Posts by Yurie Miyazawa
Gold inches higher as inflation data looms, set for fourth monthly gain
GOLD prices edged up on Friday (May 31) and were on track for a fourth straight monthly gain, while investors awaited a key US inflation reading that could provide further insights into the Federal Reserve’s policy path. Spot gold was up 0.2 per cent at US$2,346.18 per ounce, as at 0141 GMT. Bullion prices are…
Read MoreTikTok preparing a US copy of the app’s core algorithm: sources
TIKTOK is working on a clone of its recommendation algorithm for its 170 million United States users that may result in a version that operates independently of its Chinese parent and be more palatable to American lawmakers who want to ban it, according to sources with direct knowledge of the efforts. The work on splitting…
Read MoreApple plans AI-based Siri overhaul to control individual app functions
APPLE is planning to overhaul its Siri virtual assistant with more advanced artificial intelligence (AI), a move that will let users control individual app functions with their voice, according to sources with knowledge of the matter. The new system will allow Siri to take command of all the features within apps for the first time,…
Read MoreUS Steel, Nippon Steel receive all non-US approvals for merger
US Steel and Japan’s Nippon Steel have received all regulatory approvals outside of the United States for their proposed US$14.9 billion merger, the companies said on Thursday (May 30). Nippon had clinched the deal to buy US Steel last December, after edging out rivals including Cleveland-Cliffs, ArcelorMittal and Nucor. The steelmakers now need to secure…
Read MoreBig Tech develops AI networking standard but without chip leader Nvidia
MAJOR tech firms, including Meta, Microsoft, Advanced Micro Devices and Broadcom, said on Thursday (May 30) they have developed a new industry standard for networking in AI data centres, the latest effort to break the dominance of market leader Nvidia. The “Ultra Accelerator Link,” is an attempt to establish an open standard for communication between…
Read MoreMAS expands scope of fair-dealing guidelines to cover products, services of all financial institutions
ALL financial institutions will now need to apply the fair-dealing guidelines set up by the Monetary Authority of Singapore (MAS) to the products and services they offer. The updated guidelines aim to raise standards of fair dealing, and improve the experience of customers dealing with these financial institutions, MAS said on Thursday (May 30). The…
Read MoreGP Industries sinks into red with S$67.6 million H2 net loss on lower revenue
GP INDUSTRIES : G20 0% sunk into the red with a net loss of S$67.6 million for its second half ended Mar 30, compared with a net profit of S$2.2 million in the previous corresponding period. Revenue slipped 1.9 per cent to S$543.9 million, from S$554.5 million a year earlier. In FY24, the company reported…
Read MoreUS: Wall St opens lower after economic data
Wall Street’s main indexes opened lower on Thursday (May 30) as investors analysed data that showed the economy grew less than previously expected in the first quarter, stoking hopes for an earlier start to the Federal Reserve’s rate cuts. The Dow Jones Industrial Average fell 73.2 points, or 0.19 per cent, at the open to…
Read MoreGreenback dips from two-week high as US bond yields cool
THE US dollar fell slightly on Thursday (May 30) as US Treasury yields stabilised, after the currency rose to a two-week high the previous day amid easing bets on Federal Reserve interest rate cuts. The index tracking the US currency against its major peers climbed to 105.18 overnight, the highest since May 14, but was…
Read MoreAEM chief Chandran Nair resigns; Amy Leong to take over from Jul 1
SEMICONDUCTOR equipment maker AEM Holdings : AWX 0% will appoint a new chief executive officer from Jul 1, 2024. This follows the resignation of its current CEO Chandran Nair which will take effect from Jun 30, the company said on Thursday (May 30). Nair is leaving the company “to pursue other personal interests”, the company…
Read More