Posts by Stephanie Irvin
Singtel’s Optus to defend proceedings by Australian authorities
SINGTEL’S Australian unit Optus Mobile has reiterated its intention to defend proceedings filed by the Australian Communications and Media Authority (ACMA) over a cyberattack faced by Optus in 2022. On Friday (Jun 14), Optus said it was aware of only about 10,200 customers having their personal information published on the Internet due to the cyberattack.…
Read MoreStocks to watch: Singtel, Mapletree Logistics Trust, Soilbuild
THE following companies saw new developments that may affect trading of their securities on Friday (Jun 14): Singtel: Its Australian unit Optus Mobile intends to defend proceedings filed by the Australian Communications and Media Authority (ACMA) regarding a cyberattack in 2022. On Friday, Optus said it was aware of only about 10,200 customers having their…
Read MoreBitcoin miners pivot to South-east Asia after China crackdown
THE 6.9-ha cement slab in the middle of a Borneo industrial area once belonged to a logging company. Long ago that business abandoned the site to the elements, leaving just rudimentary structures and a four-story-tall concrete birdhouse made to lure swiftlets whose nests, built with saliva, fetch high prices in China. But in 2023, another industry moved in:…
Read MoreJudge likely to kill US$30 billion Visa, Mastercard swipe-fee deal
A US$30 billion settlement between Visa, Mastercard and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation. Judge Margo Brodie of the US District Court of the Eastern District of New York indicated in a hearing on Thursday that she…
Read MoreBank of Japan to keep ultra-low rates, may signal bond taper
THE Bank of Japan is likely to keep interest rates ultra-low on Friday but consider whether to start reducing its huge balance sheet in a slow but steady retreat from its massive monetary stimulus. However, the normalisation of Japan‘s still-loose monetary policy is clouded by weak consumption and doubts over the BOJ’s view that robust domestic demand will keep inflation on…
Read MoreUS dollar gains after rates-driven yoyo; yen fragile ahead of BOJ
THE US dollar edged up on Thursday (Jun 13), recovering some of the losses sparked by softer than expected US inflation data on Wednesday, after the Federal Reserve forecast just one rate cut this year. The yen remained under heavy pressure ahead of a Bank of Japan meeting on Friday and traders prepared for more…
Read MoreBYD leads Chinese car brands past Ford and Chevy in global sales
CHINA’S carmakers outsold their US counterparts for the first time last year, a testament to the shifting power dynamics in the global auto market. Brands led by BYD sold 13.4 million new vehicles last year, beating the 11.9 million units delivered by American brands such as Ford and Chevrolet, researcher Jato Dynamics said on Thursday…
Read MoreAmazon adds US$230 million in cloud credits to AI startups
AMAZON said it is investing US$230 million in the form of Amazon Web Service (AWS) credits in artificial intelligence startups, the latest example of cloud providers trying to capture AI clients from nascent stages. The credits will provide early-stage generative AI startups free access to computing power, a variety of AI models, and infrastructure, if…
Read MoreSouth Korea to extend stock short selling ban through next Mar 30
SOUTH Korea is extending a ban on stock short selling through the end of March next year as financial authorities seek to buy enough time to ready a system to detect illegal trading activities. The government banned the trade in November to root out “rampant” naked short selling – a practice of selling shares without…
Read MoreAlphabet hit with Austrian privacy complaint over alleged browser tracking
ALPHABET’S Google was hit with a complaint by Austrian advocacy group NOYB on Thursday for allegedly tracking users of its Chrome Web browser, an issue already on EU antitrust regulators’ radar. The US tech giant is phasing out the use of third-party cookies that advertisers use to track consumers in order to protect consumer privacy.…
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