Posts by Stephanie Irvin
Oil and gas industry hops on generative AI bandwagon
AWAY from the Microsoft and Googles of the world, a century-old industry – oil and gas – is hoping that generative artificial intelligence will make producing petroleum more efficient and easier on its workforce. Long before the current craze surrounding generative AI (Gen AI), the energy sector employed traditional artificial intelligence through its use of…
Read MoreBritish PC maker Raspberry Pi soars in London trading debut
BRITISH personal computer (PC) maker Raspberry Pi shares jumped on its first day as a public company, offering a boost to London’s struggling market for new stock listings. Shares of the Cambridge-based company closed on Tuesday‘s (Jun 11) session at 385 pence each, a 38 per cent surge from its initial public offering price (IPO)…
Read MoreManulife Financial Corporation prices S$500 million subordinated notes at 4.275%
MANULIFE Financial Corporation priced S$500 million worth of subordinated notes, which are expected to qualify as Tier 2 capital of Manulife, said the company on Wednesday (Jun 12). The notes will bear an annual coupon rate of 4.275 per cent up until Jun 19, 2029. If the notes are not redeemed by then, they…
Read MoreJohnson & Johnson reaches US$700 million talc case settlement
US PHARMACEUTICAL and cosmetics giant Johnson & Johnson has agreed to pay US$700 million to settle allegations it misled customers about the safety of its talcum-based powder products, New York’s attorney general announced on Tuesday. In its settlement with 42 states and the District of Columbia, Johnson & Johnson did not admit wrongdoing, even though…
Read MoreApple hits record as AI features promise boost in iPhone sales
APPLE shares surged over 7 per cent to a record high on Tuesday (Jun 11), nearly regaining from Microsoft its crown as the world’s most valuable company a day after it unveiled new artificial intelligence (AI) features meant to rekindle demand for iPhones. Tuesday’s rally came as Apple trails the S&P 500 in 2024 due…
Read MoreElon Musk drops lawsuit against OpenAI and Sam Altman
ELON Musk on Tuesday dropped his lawsuit against OpenAI and its co-founders Sam Altman and Greg Brockman for betraying the startup’s founding mission. In a California court, Musk had accused the AI firm he helped set up in 2015 of breaching a commitment to creating artificial intelligence that benefits society when it became a for-profit…
Read MoreOil settle slightly up on forecasts for strong global demand
OIL prices edged up to settle slightly higher on Tuesday as the US Energy Information Administration (EIA) raised its global oil demand growth forecast for the year, while Opec stuck to its forecast for relatively strong growth in 2024. Brent crude futures rose 29 cents, or 0.4 per cent, to settle at US$81.92 a barrel, continuing a sharp…
Read MoreUS weighs more limits on China’s access to chips needed for AI
THE Biden administration is considering further restrictions on China’s access to chip technology used for artificial intelligence (AI), targeting new hardware that’s only now making its way into the market, sources familiar with the matter said. The measures being discussed would limit China’s ability to use a cutting-edge chip architecture known as gate all-around, or…
Read MoreTemu lures more repeat customers than EBay, pressures Amazon
LESS than two years after its US debut, Chinese e-commerce upstart Temu is attracting more repeat shoppers than eBay, an e-commerce pioneer that has been around for almost three decades. An April survey of 1,000 consumers found that 34 per cent of respondents buy something from Temu at least once a month, edging out eBay’s…
Read MoreCustomer refunds, business suspension send Cordlife S$11.6 million into the red in Q1
BELEAGUERED private cord-blood bank Cordlife Group : P8A 0% reported a net loss of S$11.6 million for the three months ended Mar 31, reversing a net profit of S$1.2 million in the corresponding quarter the year before. The group announced in a bourse filing on Tuesday (June 11) that its revenue was minus S$0.2 million…
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