Posts by Yurie Miyazawa
GM China’s EV, hybrid sales top petrol cars for first time
GENERAL Motors (GM) sold more electric vehicles (EVs) and plug-in hybrids than conventional petrol cars in China for the first time last quarter, though the milestone comes as total deliveries continue to fall. The US carmaker sold more than 426,000 vehicles in the three months to September, with battery EVs and plug-in hybrids accounting for…
Read MoreSingtel launches AI cloud service; to process data locally for sensitive sectors, government
SENSITIVE sectors, such as banking and healthcare, as well as the public sector, will soon be able to tap telco giant Singtel’s artificial intelligence (AI) cloud offering. The company launched its offering, called RE:AI, on Thursday (Oct 10) at its George Street office, along with five memoranda of understanding with academia, industry players and AI…
Read MoreSpotify starts free streaming option in South Korea
SPOTIFY’S free music and podcasts service option is now available in South Korea, the audio streaming platform said on Thursday (Oct 10), as it looks to widen its audience base. The streaming giant’s freemium business model offers both a free, limited ad-supported service and an unlimited premium subscription service. Spotify said that the move will…
Read MoreUS charges 18 people, companies with cryptocurrency fraud
THREE cryptocurrency companies and 15 people have been charged with engaging in widespread fraud and market manipulation following an investigation in which the FBI for the first time directed the creation of a new digital token to help authorities ferret out crime. Federal prosecutors in Boston charged the firms Gotbit, ZM Quant, CLS Global and…
Read MoreStocks to watch: SGX, Metro, NeraTel
THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 10):
Read MorePowell’s half-point cut is hard to repeat with FOMC in no hurry
US FEDERAL Reserve chair Jerome Powell is unlikely to win another big interest-rate cut from his policy committee so long as the labour market holds up. Powell described the move as a recalibration aimed at making sure the labour market remained strong at his press conference after officials reduced the benchmark lending rate by a…
Read MoreBlackRock is among suitors exploring purchase of credit firm HPS
BLACKROCK is among firms exploring a purchase of HPS Investment Partners, according to sources with knowledge of the matter, in a deal that would push the world’s biggest asset manager into the top ranks of the private-credit market. The two firms have held talks as HPS also pursues a potential initial public offering (IPO), said…
Read MoreKiwi falls after hefty rate cut, US dollar edges up
THE New Zealand dollar slumped on Wednesday (Oct 9) after the country’s central bank cut interest rates by 50 basis points, while the US dollar nudged up against most currencies and hit a new near two-month high on a basket of peers. The kiwi tumbled 0.9 per cent on the dollar to US$0.6079 and hit…
Read MoreBiggest US banks face revenue pressure in new era of rate cuts
BIG bank investors parsing through the industry’s third-quarter results this week will face something they haven’t grappled with in nearly a half-decade: the impact of Federal Reserve rate cuts. JPMorgan Chase and Wells Fargo kick off the first bank earnings season since the Federal Reserve’s 50 basis point rate cut last month. All eyes will…
Read MoreOCBC to stop Russia-linked transactions to cut risk
OVERSea-Chinese Banking Corp (OCBC) will stop handling any transactions involving Russia as it moves to cut exposure to the nation hit with global sanctions. Singapore’s second-largest lender has told customers, including private bank clients, in recent weeks that the restrictions will kick in from Nov 1, according to a person with knowledge of the matter.…
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