Posts by Yurie Miyazawa
Australian wine exports to China rocket after Beijing drops tariffs
AUSTRALIAN wine makers shipped wine worth A$86 million (S$77 million) to China in the month after Beijing lifted tariffs and should be confident of bumper sales going forward, the trade minister said on Wednesday (Jun 12). Australia exported wine worth US$800 million to China in the year to November 2020, when Beijing blocked imports, collapsing…
Read MoreAsia: Markets stutter as investors fret ahead of US releases
WORRIES about upcoming US inflation data and the Federal Reserve’s outlook for interest rates permeated Asian trading floors on Wednesday, while the euro continued to struggle owing to political uncertainty in Europe fuelled by shock EU election results. While a surge in Apple helped Wall Street reach another record, investors are growing increasingly nervous that…
Read MoreGold dips on firmer dollar; US inflation data, Fed policy eyed
GOLD prices edged lower on Wednesday (Jun 12), weighed down by a stronger US dollar, as investors awaited key US inflation data and the Federal Reserve’s updated interest rate projections due later in the day. Spot gold was down 0.2 per cent at US$2,311.80 per ounce, as at 0128 GMT. US gold futures rose 0.1…
Read MoreSouth Korea’s jobs growth cools to slowest pace since 2021
SOUTH Korea’s labour market showed signs of cooling in May as employment growth slowed to its slowest pace in more than three years, a weak outcome that may support the case for authorities to consider adjusting policy. The number of new jobs increased by 80,000 in May, compared with 261,000 a month earlier, according to…
Read MoreGoogle to test anti-theft AI feature for phones in Brazil
ALPHABET’S Google said on Tuesday (Jun 11) that Brazil will be the first country to test an anti-theft feature for Android phones that uses artificial intelligence (AI) to identify when a phone has been stolen and lock the device’s screen. Three types of lock will be available in the initial test phase. In one of…
Read MoreTesla shareholder sues Musk to return billions in alleged unlawful profits
ELON Musk made billions of dollars by selling Tesla stock using insider information, an institutional shareholder accused in a lawsuit filed on Tuesday, asking the court to direct the Tesla CEO to return “unlawful profits.” The lawsuit comes two days before a critical vote by Tesla shareholders on whether to reinstate Musk’s US$56 billion pay…
Read MoreNFTs fail to regain appeal as investors turn to new Ether ETFs
MANY investors are betting that Bitcoin and Ether will set fresh highs this year, but there’s one corner of the cryptocurrency market that is getting the cold shoulder: non-fungible tokens (NFTs). The tokens, better known as NFTs, which can be digital artwork of apes or other collectibles recorded on blockchains, are losing even more of…
Read MoreOracle expects double-digit revenue growth for fiscal 2025 on strong AI demand
ORACLE on Tuesday (Jun 11) forecast its revenue for fiscal 2025 to grow in double digits, in a sign of strong demand for its artificial intelligence (AI) powered cloud services as clients ramp up spending, sending the company’s shares up 8 per cent after the bell. The company also announced a partnership with ChatGPT-maker OpenAI…
Read MoreUS: Nasdaq, S&P 500 end at records as Apple surges on AI plans
THE Nasdaq and S&P 500 rallied to fresh records on Tuesday, following a surge in Apple shares after Wall Street cheered the tech giant’s plans for artificial intelligence. The highs came one day after Apple unveiled “Apple Intelligence” and said it was partnering with OpenAI. Company officials added that the offering would give iPhone users…
Read MoreRed Sea ships attacks push 47% more crude oil, fuels around Africa
GLOBAL crude oil and oil products shipments taking the long route between Asia, the Middle East and the West is up 47 per cent since attacks began on vessels using the shorter Red Sea route, the Energy Information Administration (EIA) said on Tuesday (Jun 11). The longer route around the Cape of Good Hope to…
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