Posts by Stephanie Irvin
Boeing’s Starliner return to Earth postponed, Nasa says no new date set
BOEING Starliner’s return to Earth from the International Space Station (ISS) with its first crew of astronauts has been postponed, Nasa said on Friday (Jun 21). Nasa did not provide a new date, raising questions about when the mission’s two astronauts will return as more testing and technical issues have created more delays. The return…
Read MoreTata Steel workers in Britain to begin indefinite strike next month
AROUND 1,500 Tata Steel workers in Britain will begin an indefinite strike from Jul 8 over the company’s plans to close two blast furnaces and cut up to 2,800 jobs, the trade union Unite said on Friday (Jun 21). The strike action, described by Unite as the first strikes by British steel workers in 40…
Read MoreVanEck sets 0.2% fee for proposed spot Ethereum ETF
INVESTMENT management firm VanEck plans to charge a fee of 0.2 per cent on its proposed spot Ethereum exchange-traded fund (ETF), according to a US Securities and Exchange Commission (SEC) filing on Friday (Jun 21). The SEC approved applications from Nasdaq, CBOE and NYSE last month to list ETFs tied to the price of ether,…
Read MoreApple to delay launch of AI-powered features in Europe, blames EU tech rules
APPLE will delay launching three new artificial intelligence (AI) features because landmark European Union tech rules require it to ensure that rival products and services can function with its devices, the US tech group said on Friday (Jun 21). Apple underscored its AI push earlier this month with a slew of new features and software…
Read MoreHedge fund Arrowpoint lures CPPIB, Temasek as anchor investors
FORMER Millennium Management Asia executive Jonathan Xiong’s new hedge fund pod-shop has signed up Canada Pension Plan Investment Board (CPPIB) and a unit of Singapore’s Temasek Holdings as additional backers, according to people familiar with the matter. Canada’s largest pension plan and Seviora Capital, a wholly-owned unit of the Singapore state-owned investor, will join Blackstone…
Read MoreAmazon mulls US$5 to US$10 monthly price tag for unprofitable Alexa service, AI revamp
AMAZON is planning a major revamp of its decade-old money-losing Alexa service to include a conversational generative AI with two tiers of service and has considered a monthly fee of around US$5 to access the superior version, according to people with direct knowledge of the company’s plans. Known internally as “Banyan,” a reference to the…
Read MoreJPMorgan wealth head sees China’s economic outlook improving
JPMORGAN Chase is seeing signs of an improving economy in China that will bolster the bank’s business in the country after a sluggish period, its CEO of asset and wealth management Mary Erdoes said. US companies are assessing their prospects in China as its economy recovers unevenly and relations worsen between the two nations. For…
Read MoreSingPost appoints financial adviser for strategic review of Australia businesses
This is part of the national postal service provider’s plans to achieve scale in the country SINGAPORE Post (SingPost) announced on Friday (Jun 21) that it appointed Merrill Lynch Markets Australia the day prior as a financial adviser to its board. SingPost said that the adviser will work with its board to “formulate optionalities for…
Read MoreEurope: Shares rise after Swiss rate cut, Bank of England decision
EUROPEAN shares advanced on Thursday with broad-based gains as markets tracked a global upbeat sentiment, while shares of British, Swiss and Norwegian stocks were in focus after their respective central bank decisions. The pan-European Stoxx 600 ended up 0.9 per cent to hit a week’s high, led by a 1.8 per cent rise in technology…
Read MoreBMW cancels 2 billion euros battery cells contract with Northvolt
German premium carmaker BMW said on Thursday (Jun 20) it had cancelled a two billion euros (S$2.9 billion) order for battery cells for its electric vehicles with Northvolt. German media, including manager magazin, reported that the Swedish company could not deliver on time on a long-term supply contract for battery cells signed in 2020. “Northvolt…
Read More