News
Exxon restarts FCCU at Texas refinery, sources say
[HOUSTON] Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday (Oct 9) at its 612,000-barrel-per-day refinery in Beaumont, Texas, people familiar with plant operations said.The 120,000-bpd FCCU...
Crypto sees more than US$6 billion in liquidations
(Bloomberg) – Cryptocurrency prices tumbled after US President Donald Trump said he would impose an additional 100 per cent tariff on China and export controls on software. Traders saw...
Morgan Stanley seeks to redeem cash from Jefferies’ Point Bonita fund, source says
[NEW YORK] Morgan Stanley’s asset management unit asked investment bank Jefferies to return some money it invested in the latter bank’s Point Bonita Capital fund, according to a person...
Europe: Trump’s fresh tariff threats knock Europe stocks to weekly loss in last-minute slide
[BENGALURU] European shares tanked on Friday (Oct 10), erasing weekly gains in a last-minute slide as renewed trade war fears sparked by fresh threats from US President Donald Trump...
Tesla’s China shipments rise at start of busy sales season
The carmaker shipped 90,812 units from the plant last month, up 2.8% from a year earlierSHIPMENTS from Tesla’s Shanghai factory increased in September as China’s car market kicks off...
China’s state banks ramp up US dollar buying to stabilise renminbi: sources
The combined actions of the lenders mark a reversal from last year’s efforts to defend the weakening renminbi[SHANGHAI/BEIJING] China’s major state-owned banks ramped up US dollar buying in the...
Tata Consultancy Services slashes 19,755 jobs in biggest workforce cut amid AI, US strains
[MUMBAI] Tata Consultancy Services (TCS) made its steepest-ever job cuts as strained ties with the US and a rapid shift towards artificial intelligence reshape the country’s US$280 billion IT...
ComfortDelGro’s quiet tech play and why it’s not sweating GrabCab
Grab says it won’t poach rival drivers, but its entry may intensify Singapore’s tight market[SINGAPORE] Within just a decade, Grab has gone full circle from an entrant challenging incumbent...
AI jobs shock is coming and firms aren’t ready: Klarna CEO
The CEO sees the AI boom spelling the end to what he calls “excess profits” in both the banking and software industries[LONDON] From technology firms to translators, the world...
Thailand’s Delta shares set to drop as exchange imposes curbs
The stock has more than tripled in price from its April low, boosted by optimism over its role as maker of components for artificial-intelligence data centres[BANGKOK] Shares of Delta...
