Posts by Yurie Miyazawa
Oracle 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…
Read MoreEvergrande EV warns of losing key assets as local governments demand subsidy repayment
CHINA Evergrande New Energy Vehicle Group faces the risk of losing assets such as land and equipment, the company said on Tuesday (Jun 11), as local administrative bodies demand repayment of 1.9 billion yuan (S$354.4 million) in subsidies by its units. The local bodies last month sent a letter of demand asking unit Evergrande Automotive…
Read MoreSabana Reit’s tenant in Tuas Avenue 8 placed under provisional liquidation
THE tenant of Sabana Industrial Real Estate Investment Trust : M1GU 0% (Sabana Reit) at 30 and 32 Tuas Avenue 8 has been placed in provisional liquidation. The Reit’s manager said in a bourse filing on Tuesday (Jun 11) that the tenant in question, biotechnology company GDMC, accounted for about 2.4 per cent of the…
Read MoreSingapore’s Tolaram to buy Diageo’s shareholding in Guinness Nigeria
SINGAPORE-BASED consumer group Tolaram on Tuesday (Jun 11) agreed to buy Diageo’s 58.02 per cent shareholding in Guinness Nigeria and enter into long-term licence and royalty agreements, the Nigerian brewer said in a statement. Diageo, which makes Johnnie Walker Scotch and Smirnoff vodka, would retain ownership of the Guinness brand, which it will licence to…
Read MoreECB must neither rush nor dally after decisive cut, Villeroy says
THE European Central Bank (ECB) should neither rush nor procrastinate over future interest-rate cuts after a “decisive orientation” to start loosening last week, Bank of France Governor Francois Villeroy de Galhau said. With uncertainty reigning over the ECB’s next steps after its widely expected reduction to borrowing costs last week, the French central banker’s tone…
Read MoreUS plans to award US$23.9 million to Rocket Lab to boost chips for satellites, spacecraft
THE US Commerce Department said on Tuesday (Jun 11) it planned to award Rocket Lab US$23.9 million to dramatically boost compound semiconductors used in satellites and spacecraft. The award for Rocket Lab unit SolAero Technologies “would help create a more robust and resilient supply of space-grade solar cells that power spacecrafts and satellites,” the department…
Read MoreDaiwa Securities to buy Aozora Bank stake from activist fund
DAIWA Securities Group said it will increase its stake in Japan’s unprofitable Aozora Bank. The brokerage’s shares tumbled 4.6 per cent. Daiwa will buy 9.1 per cent of the bank from City Index Eleventh, a fund linked to Yoshiaki Murakami, Japan’s best-known activist investor, and Aya Nomura, who is Murakami’s daughter. Combined with an…
Read MoreSiemens Energy eyes biggest wind turbine to rival China
SIEMENS Energy has told customers it plans to produce its biggest wind turbine, potentially towards the end of the decade, as the company seeks to maintain its lead in one of the fastest-growing energy sectors. The firm aims to roll out an offshore generator that can produce around 21 megawatts of power, overpowering the biggest…
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