Posts by Liam Redmond
OpenAI to share 8% of its revenue with Microsoft, partners, The Information reports
[BENGALURU] OpenAI has projected that by the end of the decade it will be sharing about 8 per cent of its revenue with commercial partners, namely Microsoft, down from the current 20 per cent, The Information reported on Friday (Sep 12). The difference between those figures adds up to more than US$50 billion in additional…
Read MoreEmerging market investor inflows are a 2026 story, BOA says
[HONG KONG] Emerging markets are likely to receive heavier inflows early next year as more evidence on the resilience of these economies fuels a further shift from US assets, according to Bank of America (BOA). “People will become much more bullish early next year when they get the confirmation that impact of trade tensions on…
Read MoreMissouri passes Trump-backed redistricting plan that may give Republicans another House seat
JEFFERSON CITY, Mo. — Missouri Republicans handed President Donald Trump a political victory Friday, giving final legislative approval to a redistricting plan that could help Republicans win an additional U.S. House seat in next year’s elections. The Senate vote sends the redistricting plan to Republican Gov. Mike Kehoe, who said he will sign it into law soon.…
Read MoreDrugmakers fall on report US to claim Covid shot killed kids
[WASHINGTON] Vaccine makers’ shares fell after a report that US President Donald Trump health officials plan to link Covid shots to the deaths of around two dozen children in a presentation to advisers to the Centers for Disease Control and Prevention (CDC) next week. The Washington Post reported Friday (Sep 12) that a group of…
Read MoreOil gains weighed down by US demand worries
[HOUSTON] Oil prices rose on Friday (Sep 12) after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about US demand. Brent crude futures settled at US$66.99 a barrel, up 62 cents or 0.9 per cent. US West Texas Intermediate crude finished at US$62.69, a…
Read MoreEurope: Stoxx 600 slips as French rating review looms; still ends week higher
[GDANSK] European shares ended the week on a strong note, but were a little lower on Friday (Sep 12) as investors turned cautious ahead of Fitch’s credit rating decision on France later in the day. The pan-European Stoxx 600 ended 0.1 per cent lower at 554.74 points, as healthcare led sector losses with an over…
Read MoreUkraine strikes key Russian oil terminal in largest drone attack in months
Ukraine set fire to Russia’s largest oil terminal and two tankers overnight Friday in its largest drone attack against the Kremlin in months. The port of Primorsk, which has the ability to load about 1 million barrels of crude oil per day, was for the first time in its war forced to suspend loadings, two industry…
Read MoreSwatch sells watch lampooning Trump’s 39% tariffs on Switzerland: ‘A huge success’
Swiss watchmaker Swatch has begun selling a special edition watch with the numbers three and nine reversed on its face in a play on the 39% tariffs President Trump imposed on US imports from Switzerland last month. The tariffs — among the highest set by Trump worldwide — were met with shock and dismay in Switzerland, a leading producer of…
Read MoreGunvor hires Singapore specialists as it expands precious metals business into physical trading
[LONDON] Global commodity trading house Gunvor is expanding its precious metals business from trading derivatives into physical metal and has hired specialists in the London and Singapore trading hubs, the company told Reuters. Gunvor’s expansion in the sector coincides with a rally that has seen gold prices rise twofold since late 2022, as investors sought…
Read MorePC Partner proposes delisting from Hong Kong to strengthen operations, lower costs
This will leave the company with just its primary listing on the Singapore Exchange [SINGAPORE] Electronic company PC Partner Group has proposed a voluntary delisting from the mainboard of the Stock Exchange of Hong Kong (HKEX) to reduce dual-listing costs and support operational flexibility. The decision was approved by the board on Friday (Sep 12),…
Read MoreUK announces £400m Google Cloud info contract
[LONDON] The UK government has agreed a £400 million (S$695.6 million) contract with Google Cloud, days before President Donald Trump’s visit, saying on Friday (Sep 12) it will allow it to “deploy the same technology” as the US and strengthen cooperation. The deal “will strengthen secure communication links between the UK and US, in addition…
Read MoreSeatrium loses appeal to block US$126.6 million rig contract payment
The group will continue with arbitration to resolve dispute and seek recovery of payment [SINGAPORE] Seatrium on Friday (Sep 12) said its appeal in the Singapore court to block a US$126.6 million standby letter of credit payment related to a rig contract with a customer has been dismissed. The offshore and marine energy solutions company…
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