News
CDL says Sherman Kwek remains group CEO, as board battle erupts
City Developments Ltd (CDL) group chief executive officer Sherman Kwek said recent changes to the board have “never been about ousting our esteemed chairman, responding to moves by his...
HSBC names Asia country, banking heads in CEO’s major revamp
HSBC Holdings gave country heads in some smaller Asian markets additional responsibilities as the lender streamlines and removes management layers. Peter Kim was appointed head of banking on top...
Alibaba makes AI model for video, image generation publicly available
CHINESE e-commerce leader Alibaba said on Wednesday (Feb 26) that its video- and image-generating artificial intelligence (AI) model Wan 2.1 is now publicly available – or open source –...
Circle says stablecoin issuers should be US registered
JEREMY Allaire, the co-founder of stablecoin issuer Circle Internet Financial, is making the case that the issuers of the US dollar-based cryptocurrencies that underpin much of the trading in...
Super Micro jumps after filing delayed financial reports
SUPER Micro Computer gained more than 20 per cent in extended trading after it submitted outstanding financial reports to become compliant with Nasdaq rules, easing concerns risks that the...
OCBC shares fall nearly 3% after Q4 earnings miss
Fourth-quarter net profit of S$1.69 billion falls short of the S$1.78 billion consensus forecastSHARES of OCBC fell in early trading on Wednesday (Feb 26) morning after the lender posted...
Lynas profit slumps 85% as low rare earths prices take toll
The miner’s performance indicates the market is still over-supplied, with rare earth oxide prices down due to strong output from China and its economic slowdownLYNAS Rare Earths’ first-half profit...
Instacart forecasts downbeat first-quarter core profit, shares fall
INSTACART on Tuesday forecast a lower-than-expected first-quarter core profit as the online grocery delivery platform expects sequential declines in advertising revenue.The company’s shares, which also missed fourth-quarter revenue estimates,...
SingPost mulls special dividend with potential S$289m disposal gain
SINGAPORE Post (SingPost) said on Wednesday (Feb 26) it will hold an extraordinary general meeting (EGM) to seek shareholders’ approval for the proposed divestment of its Australia business, Freight...
Italy extends big tech tax probe to Musk’s X social network
ITALY is claiming 12.5 million euros (S$17.4 million) from Elon Musk’s social network X following a tax probe running parallel to one into Meta, four sources with direct knowledge...
