Posts by Stephanie Irvin
Foxconn eyes 40% global AI server market share
TAIWANESE tech giant Foxconn said on Friday (May 31) that its global market for artificial intelligence (AI) servers is expected to increase to 40 per cent this year, with AI products being the main driver for growth. Foxconn – known officially as Hon Hai Precision Industry – is the world’s biggest contract electronics maker and…
Read MoreThai central bank says current inflation goal ‘appropriate’ for economy
THE Bank of Thailand (BOT) defended its goal to keep inflation within a band of 1 to 3 per cent as “appropriate” for the prevailing economic conditions, after the government sought a review over concerns the current target may be too low. The existing band, which the law mandates should be reviewed every year, can…
Read MoreAmazon is expanding US drone service after regulator’s nod
AMAZON.COM’S Prime Air drone programme has been cleared by US regulators to fly devices beyond the visual line of sight of pilots, increasing range and giving more customers access to the service. The approval, which means pilots will not need to be able to see the drones with their own eyes, will allow Prime Air…
Read MoreMixed inflation data, soft output raise uncertainty on BOJ’s rate-hike timing
CORE consumer inflation in Japan’s capital accelerated in May on rising electricity bills but price growth excluding the effect of fuel eased, data showed on Friday (May 31), heightening uncertainty on the timing of the Bank of Japan’s (BOJ) next interest rate hike. Separate data showed factory output unexpectedly fell in April, highlighting the fragile…
Read MoreStocks to watch: MPACT, GP Industries, Azeus, Unusual, Old Chang Kee
THE following companies saw new developments that may affect trading of their securities on Friday (May 31):
Read MoreDell shares tumble as weak margin forecast clouds upbeat quarter
DELL Technologies said on Thursday (May 30) it expects its adjusted gross margin rate to decline about 150 basis points in fiscal 2025, sending its shares down 18 per cent after the bell despite an upbeat quarterly earnings report. “Given inflationary input costs, the competitive environment and higher mix of AI (artificial intelligence) optimised servers,…
Read MoreEurope: Shares bounce back as government bond yields take breather
EUROPEAN shares closed higher on Thursday (May 30) as a drop in government bond yields offered some respite while investors awaited global data in the next few days that could offer more clues on where major central banks stand on monetary policy easing. The pan-European Stoxx 600 index closed 0.6 per cent higher after falling…
Read MoreUS: Stocks fall as several large tech names retreat
WALL Street stocks fell for a second straight session on Thursday (May 30) following a downgrade in a US growth report as several large tech shares tumbled. The world’s biggest economy expanded at an annual rate of 1.3 per cent in the January to March period, the Commerce Department said, below the 1.6 per cent…
Read MoreNike layoffs hit its secret sneaker archive department
NIKE has cut some staff from its secret sneaker archives as part of a multiyear cost-cutting plan, according to people familiar with the matter. The division, known as the Department of Nike Archives – or DNA, as it’s referred to internally – is a small team of employees who collect, catalogue and store more than…
Read MoreOld Chang Kee’s H2 net profit up 50% to S$5.3 million on higher revenue
CURRY puff specialist Old Chang Kee on Thursday (May 30) posted a 50 per cent rise in net profit to S$5.3 million for its second half ended March 2024, from S$3.5 million in the same period a year ago. Revenue for the half-year rose 10 per cent to S$50.7 million, from S$46.1 million the year…
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