Business
Microsoft-backed Builder.ai set for bankruptcy after cash seized
Builder.ai, the British artificial intelligence startup backed by Microsoft and the Qatar Investment Authority, is filing for bankruptcy…
Section
Business
Business
STI closes flat amid a mixed regional showing, overnight Wall Street declines
Gainers beat decliners 273 to 205 across the broader market, with 982.2 million of securities valued at S$1.2 billion changing hands The…
Business
Bloomberg terminal outage disrupts bond sales across Europe
— News and data company Bloomberg suffered an outage to its terminal for financial professionals on Wednesday (May 21), disrupting numerous…
Business
Bloomberg terminal back up after outage affects European bond sales
— News and data company Bloomberg said its systems were returning to normal on Wednesday (May 21) after a brief disruption earlier in the…
Business
TikTok Shop US Employees told to work from home as layoffs loom
TikTok told US e-commerce staff to work from home on Wednesday (May 21) while awaiting emails regarding “difficult decisions,” suggesting…
Business
Should SingPost divest its headquarters building?
The share price of Singapore Post (SingPost) said it all about investors’ attitude towards the national postal service provider’s latest…
Business
Time’s not ripe for SingPost to sell its flagship building
The share price of Singapore Post (SingPost) said it all about investors’ attitude towards the national postal service provider’s latest…
Business
CATL’s 1.8-billion euro German plant boosts China’s invest-abroad bet
[SINGAPORE/BERLIN] More than two years ago on the outskirts of a medieval German town, China’s biggest EV battery company placed a…
Business
Yoma Strategic’s H2 profit falls 12.4% to US$18.3 million
Yoma Strategic Holdings posted a 12.4 per cent decline in net profit for the second half-year ended Mar 31 to US$18.3 million, from…
Business
Julius Baer faces US$156 million loan loss charge
Julius Baer Group said it’s booking another large loss from property developments it helped finance, just as the Swiss wealth manager is…
Business
Britain's M&S says cyberattack to cost US$400 million
British retailer Marks & Spencer said on Wednesday (May 21) a “highly sophisticated cyber” attack would cost it about US$403 million in…
Business
Singapore’s ultra-rich among wealthy Asians snapping up property in Dubai
Property cooling measures may have dampened housing demand here, but Singapore’s ultra-rich are among high net-worth individuals (HNWI)…
Business
Covid-19 testing demand surges as cases spike across Asia
Phase Scientific has developed the world’s first urine-based human papillomavirus test, and is planning to expand that business globally…
Business
Labubu maker Popmart flagged for global expansion potential; CGSI initiates coverage
[Hong Kong] CGS International (CGSI) has initiated coverage on Pop Mart’s stock with an “add” rating, citing the group’s transformation…
Business
Labubu maker Pop Mart flagged for global expansion potential; CGSI initiates coverage
CGS International (CGSI) has initiated coverage on Pop Mart’s stock with an “add” rating, citing the group’s transformation from a toy…
Business
Nvidia says US export controls on AI chips to China were ‘a failure’
The world’s second-largest economy to invest aggressively to develop a supply chain that does not rely on manufacturers outside the…
Business
Nvidia CEO praises Trump move to scrap some AI export curbs
US export controls on artificial intelligence (AI) chips to China were “a failure” as they have cost American companies billions of US…
Business
Toyota takes all-hybrid plunge with its best-selling US vehicle
Toyota Motor is scrapping the gas-powered version of its best-selling vehicle in the US as the Japanese carmaker doubles down on its push…
Business
Vietnam approves establishment of Sun PhuQuoc Airways
Vietnam’s Prime Minister, Pham Minh Chinh, has approved the establishment of a new airline, Sun PhuQuoc Airways, the official Vietnam News…
Business
Former Citigroup traders drop Hong Kong lawsuit on cost concerns
Two former Citigroup traders in Hong Kong abandoned their employment lawsuits after weighing the costs and difficulties of taking it to a…
Business
Temasek’s SeaTown to invest up to S$115 million in Singapore healthcare firm AddVita
SeaTown Holdings, an investment manager indirectly owned by Temasek, said on Wednesday (May 21) it is committing up to S$115 million in…
Business
SingPost names Teo Swee Lian as chairman-designate
Singapore Post (SingPost) appointed Teo Swee Lian, 65, as chairman-designate and non-independent, non-executive director with effect from…
Business
Singapore central bank chief says US dollar assets irreplaceable
Factors that the market are paying attention to include any prospect for slower growth and higher inflation in America as well as cues on…
Business
Monetary Authority of Singapore MD says US$ assets irreplaceable
Factors that the market are paying attention to include any prospect for slower growth and higher inflation in America as well as cues on…