Technology
Bitcoin plunges, Ether has worst drop since 2021 as crypto sinks
CRYPTOCURRENCIES reeled from a bout of risk aversion in global markets on Monday (Aug 5), at one point sending Bitcoin down more than 16 per cent and saddling second-ranked...
US 2-year yield below 10-year for first time since July 2022
THE US two-year yield became lower than the 10-year yield for the first time since July 2022 as fears of an economic downturn led traders to bet on sharp...
Japanese yen surges to 7-month high as US economy worries mount
THE Japanese yen surged to seven-month highs against the US dollar on Monday (Aug 5) as traders aggressively unwound carry trades after a slew of economic data last week...
BioNTech counts on shift to cancer drugs after second quarter losses quadruple
LOSSES at German drugmaker BioNTech quadrupled in the second quarter from a year earlier, the company said on Monday (Aug 5), as it banks on a strategy shift towards...
Tencent joins US$300 million financing for China’s AI unicorn
TENCENT Holdings has contributed to a US$300-plus million round Chinese generative AI startup Moonshot just closed, emulating its arch-rival Alibaba Group Holding in fostering several hopefuls in the highly...
UK car industry body cuts 2024 sales forecast on weak EV demand
BRITAIN’S auto industry body cut its 2024 forecast for new car sales on Monday (Aug 5), saying weak private retail demand for electric vehicles (EVs) is an overriding concern.
New...
L’Oreal to acquire 10% stake in Swiss skin care company Galderma
L’OREAL will acquire a 10 per cent stake in Swiss skin care firm Galderma from a group of major shareholders, the two companies said on Monday (Aug 5), as...
Infineon adjusts revenue outlook after missing quarterly forecast
GERMAN chipmaker Infineon adjusted its full-year revenue outlook for the third time in the space of a few months on Monday (Aug 5) after missing expectations in its third...
