Posts by Stephanie Irvin
South Korea wealth fund to boost bets on AI startups, eyes China tech
[SEOUL] South Korea’s sovereign wealth fund plans to increase allocations to tech startups and venture capital funds (VCs) as part of its broader push to deepen exposure to artificial intelligence (AI) and other disruptive technologies. Korea Investment Corporation (KIC), which manages US$206.5 billion in assets, is expanding its allocation to alternative assets to enhance returns,…
Read MoreCircle applies for US trust bank license after bumper IPO
[NEW YORK] Stablecoin firm Circle is applying to create a national trust bank in the US, a major move after its blockbuster initial public offering (IPO) valued the company at nearly US$18 billion earlier this month. If the charter is granted by the US Office of the Comptroller of the Currency (OCC), it would enable…
Read MoreStruggling semiconductor firm Wolfspeed files for bankruptcy
[NEW YORK] Wolfspeed, a chipmaker caught in US President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a creditor-backed plan to slash US$4.6 billion in debt. The North Carolina-based company filed petitions for reorganisation under Chapter 11, according to a statement released on Monday (Jun 30). It expects to emerge out…
Read MoreApple weighs using Anthropic or OpenAI to power Siri in major reversal
[LOS ANGELES] Apple is considering using artificial intelligence (AI) technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort. The iPhone maker has talked with both companies about using their large language models for…
Read MoreOracle inks cloud deal worth US$30 billion a year
That revenue alone would represent nearly three times the size of Oracle’s current infrastructure business Published Tue, Jul 1, 2025 · 06:00 AM [AUSTIN] Oracle said it has signed a single cloud deal worth US$30 billion in annual revenue – more than the current size of its entire cloud infrastructure business. That revenue is expected…
Read MoreBoeing’s US$4.7 billion Spirit deal faces UK antitrust probe
The probe will determine if the deal raises the risk of substantial lessening of competition in the UK Published Mon, Jun 30, 2025 · 09:54 PM [NEW YORK] Boeing’s US$4.7 billion deal to buy Spirit AeroSystems Holdings will face UK antitrust investigation, the country’s antitrust watchdog said. The Competition and Markets Authority will decide whether…
Read MoreChina urges Canada to ‘correct wrongdoing’ over Hikvision shutdown
Published Mon, Jun 30, 2025 · 08:35 PM [BEIJING] China’s commerce ministry on Monday (Jun 30) urged Canada to “immediately correct its wrongdoings” after Ottawa ordered the Chinese surveillance camera manufacturer Hikvision to cease operation in the country, citing national security concerns. In a statement published on its website, the Chinese ministry vowed to take…
Read MoreECB tweaks strategy to counter sustained inflation swings, either up or down
[SINTRA, Portugal] The European Central Bank pledged on Monday (Jun 30) to react with equal vigour when inflation was too high as when it was too low, tweaking its overarching strategy after being blind-sided by a surge in prices in recent years. The ECB’s new five-year strategy follows a rollercoaster period in which it went…
Read MoreMice design-and-build specialist Dezign Format eyes Catalist IPO, lodges preliminary prospectus
[SINGAPORE] A second company in two weeks is preparing to list on the Singapore Exchange’s Catalist board, with Dezign Format Group lodging its preliminary prospectus on Monday (Jun 30). This follows a similar move by Lum Chang Creations on Jun 23, as part of its spin-off from mainboard-listed Lum Chang Holdings. In its offer document,…
Read MoreSingaporeans fuel Quayside JBCC sell-out amid Johor’s RTS boom
[KUALA LUMPUR] Singaporean buyers have taken up the lion’s share of all 482 serviced apartments at Quayside JBCC – a new mixed-use project in Johor Bahru – as cross-border demand rises ahead of the 2026 Johor Bahru-Singapore Rapid Transit System (RTS) Link and the buzz of a potential real estate investment trust (Reit) listing. “The…
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