Posts by Yurie Miyazawa
Big Tech wants AI to be regulated. Why do they oppose a California AI bill?
CALIFORNIA legislators are set to vote on a bill as soon as this week that would broadly regulate how artificial intelligence is developed and deployed in California even as a number of tech giants have voiced broad opposition. Here is background on the bill, known as SB 1047, and why it has faced backlash from…
Read MoreExxonMobil seeks to sell conventional Permian assets for US$1 billion
EXXONMOBIL is looking to sell a package of conventional oil assets in the Permian Basin as the company focuses on growing shale production after buying Pioneer Natural Resources earlier this year. The package includes older wells in the Permian’s Central Basin that produce small but stable amounts of oil, according to sources familiar with the…
Read MoreMeta shuttering augmented reality studio amid pivot to AI
META Platforms will close an augmented reality (AR) studio to prioritise investments in other areas, including a burgeoning artificial intelligence (AI) business. The studio, called Meta Spark, allows developers to make digital filters that are overlaid onto videos in the company’s Facebook, Instagram and Messenger apps. It was first launched to compete with the photo-sharing…
Read MoreChina Evergrande’s EV arm warns of bigger first-half loss on impairment provisions
THE electric vehicle unit of embattled real estate developer China Evergrande said on Tuesday (Aug 27) it expected to report a bigger loss for the first half of 2024, reflecting an increase in provision for impairments. China Evergrande New Energy Vehicle estimated a consolidated net loss of about 20.25 billion yuan (S$3.7 billion) for the…
Read MoreUS: Wall Street opens lower on caution ahead of Nvidia results, economic data
Wall Street’s main indexes opened lower on Tuesday (Aug 27) as caution prevailed ahead of highly anticipated results from Nvidia and crucial economic data expected later in the week. The Dow Jones Industrial Average fell 54.24 points, or 0.13 per cent, at the open to 41,186.28. The S&P 500 opened lower by 13.95 points, or…
Read MoreECB can gradually cut rates but jury still out on September, Knot says
THE European Central Bank can gradually lower interest rates if inflation continues to fall but more data is needed before a September cut can be decided, Dutch policymaker Klaas Knot said on Tuesday (Aug 27). With the next policy meeting just two weeks away, a growing number of ECB policymakers are lining up behind another…
Read MoreSony hikes PlayStation 5 price in Japan citing cost volatility
The surprise move comes even as PS5 sales have slowed and Sony is widely expected to refresh its offering with a more powerful, mid-cycle revamp of the console Sony Group is raising the price of its PlayStation 5 in Japan by 19 per cent to nearly 80,000 yen (S$720.14) almost four years into the console’s…
Read MoreHilleman-Bharat partnership brings new oral cholera vaccine to market
Hillchol utilises a single, genetically engineered inactivated strain delivered that significantly reduces production costs HILLEMAN Laboratories and Indian drugmaker Bharat Biotech have announced the launch of oral cholera vaccine Hillchol, which both parties deem a “significant global public health milestone”. Singapore-based Hilleman is a joint venture between US drugmaker MSD and British charitable foundation Wellcome…
Read MoreHilleman-Bharat Biotech partnership brings new oral cholera vaccine to market
Hillchol utilises a single, genetically engineered inactivated strain that significantly reduces production costs HILLEMAN Laboratories and Indian drugmaker Bharat Biotech have announced the launch of oral cholera vaccine Hillchol, which both parties deem a “significant global public health milestone”. Singapore-based Hilleman is a joint venture between US drugmaker MSD and British charitable foundation Wellcome Trust.…
Read MoreMAS review group identifies priority areas for workstreams
THE Monetary Authority of Singapore’s (MAS) new review group has identified priority areas for two workstreams amid its ongoing review of local equity markets. Called the Equities Market Review Group, the panel was set up earlier this month to recommend measures to aid in the development of equities in Singapore. It is chaired by Second…
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