Posts by Yurie Miyazawa
Meta delays AI chatbot launch in Europe after regulator pushback
Facebook parent company Meta Platforms will delay its launch of the Meta artificial intelligence (AI) chatbot in Europe after regulators on the continent requested the company pause its plan to train its large language models with posts from users there. On Monday (Jun 10), Meta announced its intention to start training its LLM, called Llama,…
Read MoreFirst Bitcoin ETF to list on Australia’s bourse in global wave
An exchange-traded fund (ETF) investing directly in Bitcoin will list on Australia’s main stock market for the first time, kicking off another wave of such listings after similar products began trading in the US and Hong Kong. Exchange operator ASX, which handles the bulk of the country’s stock trading, has approved the VanEck Bitcoin ETF…
Read MoreGoldman Sachs boosts S&P 500 target on upbeat profit outlook
Goldman Sachs Group strategists have boosted their year-end target for the S&P 500 Index for a third time, reflecting Wall Street’s optimistic outlook for earnings growth and the US economy. The bank’s equity strategists led by David Kostin now see the US stock benchmark index finishing the year at 5,600, up from a 5,200 level…
Read MoreFed’s Mester sees inflation risks to upside despite better data
Federal Reserve Bank of Cleveland President Loretta Mester said she still sees inflation risks as tilted to the upside despite welcome news in the latest data. Mester, speaking in print and television interviews Friday at Bloomberg’s New York office, also said the median projection of policymakers’ latest forecasts – which signalled just one interest-rate cut…
Read MoreOil dips, but posts weekly gain on solid 2024 demand outlook
Oil futures prices settled slightly lower on Friday (Jun 14) after a survey showed deteriorating US consumer sentiment, but prices rose 4 per cent for the week as investors weighed forecasts for solid demand for crude oil and fuel in 2024. Brent crude futures settled down 13 cents at US$82.62 a barrel, while West Texas…
Read MoreShanghai allows Tesla to carry out Full Self-Driving pilot
SHANGHAI is allowing 10 Tesla vehicles to carry out tests of the company’s most advanced autonomous driving software to pave way for its rollout in China, local-government-backed The Shanghai Observer said on Friday (Jun 14). A successful rollout of its Full Self-Driving (FSD) software would allow Tesla to better compete with local rivals in China,…
Read MoreUS: Stocks slip as markets eye cautious Fed
WALL Street’s main indexes opened lower on Friday (Jun 14), with investors pausing after strong rallies on the S&P 500 and the Nasdaq, as they weighed hawkish Federal Reserve projections against the backdrop of a cooling economy.
Read MoreGreat Eastern privatisation deal deemed ‘not fair but reasonable’; OCBC says offer price ‘final’
OCBC’s privatisation bid for its insurance arm Great Eastern Holdings (GEH) is not fair but reasonable, the independent financial adviser (IFA) to the deal said on Friday (Jun 14). The IFA said the financial terms of the offer are “on balance, not fair but reasonable”, and advises the independent directors to recommend that shareholders accept…
Read MoreChina sells 50-year bonds at record-low yield as demand swells
THE frenzy for Chinese bonds is showing no signs of fading, with the nation’s longest-dated special government notes receiving stronger-than-expected demand at an auction. China sold 35 billion yuan (S$6.5 billion) of 50-year special government bonds at a yield of 2.53 per cent, according to traders. That compares with an estimate of 2.58 per cent…
Read MoreTesla CEO Musk’s pay package gets support from 77% of votes at investor meet
ELON Musk’s US$56 billion pay package won an overwhelming 77 per cent of votes cast by Tesla investors at its annual meeting, a company filing showed on Friday (Jun 14), despite vocal opposition from a number of institutional investors and proxy advisory firms. The filing did not break down the vote based on the type…
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