Posts by Yurie Miyazawa
Samsung hikes prices, bets on AI to reclaim foldables lead
SAMSUNG Electronics sees the addition of artificial intelligence (AI) features as the key to reclaiming its title as the world’s leading maker of foldables, mobile chief TM Roh said on the eve of unveiling its latest models. The company that pioneered the foldables segment in 2019 staged a gala event in Paris on Wednesday (Jul…
Read MoreArchegos founder Bill Hwang convicted at fraud trial over fund’s collapse
ARCHEGOS Capital Management founder Sung Kook “Bill” Hwang was convicted of fraud and other charges by a jury in Manhattan federal court on Wednesday at a criminal trial in which prosecutors accused him of market manipulation ahead of the 2021 collapse of his US$36 billion private investment firm. The jury, which began deliberations on Tuesday,…
Read MoreAbu Dhabi draws energy majors to LNG project as competition grows
ABU Dhabi National Oil Company (Adnoc) on Wednesday (Jul 10) awarded stakes in its Ruwais liquefied natural gas (LNG) expansion project to four international companies, as competition intensifies among Gulf states to produce the fuel. Energy companies are betting on rising demand for the super-chilled fuel in coming decades, as Asian economies grow and after…
Read MoreUS dollar dithers on Powell’s caution
THE greenback traded near three-week lows on Wednesday (Jul 10) as a cautious tone from Federal Reserve chair Jerome Powell kept risk sentiment in check, while the New Zealand dollar fell after the country’s central bank signalled it saw potential for rate cuts. Powell acknowledged the cooling labour market and improving inflation, and noted that…
Read MoreBMW pulls away from Mercedes and Audi in electric-car race
BMW is bucking the trend in Europe, where sales of battery-powered cars have flattened or diminished BMW extended its lead over German rivals in the shift to electric vehicles with a jump in the second quarter as Mercedes-Benz and Audi struggled. Deliveries of BMW’s battery-powered models such as the i4 and iX1 surged 22 per…
Read MoreBanks catapult STI to 6-year high as Singapore stocks extend gains
THE Straits Times Index (STI) hit a six-year high on Wednesday (Jul 10), after the blue-chip gauge surged 33.84 points or 1 per cent to 3,459.93. Across the broader market, gainers beat decliners 324 to 231, with some 1.1 billion securities valued at S$1.3 billion changing hands. Glenn Thum, research analyst at Phillip Securities, noted…
Read MoreSouth Korea Samsung union declares ‘indefinite’ strike
A union representing tens of thousands of workers at Samsung Electronics in South Korea said on Wednesday (Jul 10) it would extend a three-day strike indefinitely in a bid to force management to negotiate. The strike is the biggest labour action in the tech giant’s history and steps up pressure on the chipmaker’s management, who…
Read MoreSingapore to stop registration of new diesel cars and taxis from Jan 1, 2025
NEW diesel cars and taxis will no longer be registered in Singapore starting Jan 1, 2025, as part of a push by the government to have all vehicles on the streets of the Republic running on cleaner energy by 2040. The move to phase out the more pollutive vehicles was announced in Parliament three years…
Read MoreBaidu surges with bullish options as robotaxi orders climb
BAIDU’S shares jumped by the most in more than a year and bullish options bets surged to a record on signs of growing popularity for its Apollo Go robotaxi in China. The stock rose as much as 13 per cent in Hong Kong, following an 8.5 per cent advance in the US on Tuesday (Jul…
Read MoreAsia: Markets mixed after Wall Street records
ASIAN markets diverged on Wednesday after fresh records on Wall Street and remarks by the Fed chief that hinted the US central bank would cut interest rates later this year, without offering a clear timeframe. While Europe’s main stock markets were dragged down on Tuesday by political uncertainty in France, the S&P 500 and Nasdaq…
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