Posts by Kim Browne
TSMC says tariffs have some impact but AI demand robust
Published Tue, Jun 3, 2025 · 10:43 AM [HSINCHU, Taiwan] US tariffs are having some impact but demand for artificial intelligence (AI) remains strong and continues to outpace supply, the chief executive of Taiwanese chipmaker TSMC said on Tuesday. US President Donald Trump’s trade policies have created much uncertainty for the global chip industry and…
Read MoreBank of Japan urged to keep or slow bond taper pace from fiscal 2026
[TOKYO] The Bank of Japan (BOJ) received a sizeable number of requests to maintain or slightly slow the pace of tapering in its bond purchases from fiscal year 2026 onward, minutes of a meeting between the bank and financial institutions showed on Monday (Jun 2). Despite a recent spike in super-long yields, a significant number…
Read MoreAustralia cracks down on crypto ATMs as scams, fraud uncovered
There are now more than 1,800 machines in the country compared to just 23 in 2019, according to Austrac data Published Tue, Jun 3, 2025 · 10:03 AM [MELBOURNE] Australia’s financial crimes agency placed curbs on cryptocurrency automatic teller machines (ATMs) as the surging number of kiosks increasingly attract fraudsters and scammers. The Australian Transaction…
Read MoreGold hovers near four-week peak on weaker US dollar, trade concerns
Published Tue, Jun 3, 2025 · 09:36 AM [BENGALURU] Gold edged up to hit a near four-week high on Tuesday (Jun 3), as a weaker US dollar and rising uncertainty over the US-China trade deal boosted demand for the safe-haven asset. Spot gold inched up 0.1 per cent at US$3,381.13 an ounce, as at 0038…
Read MoreWidjaja family’s Sinarmas Land offer closes with 98.65% resultant shareholding
[SINGAPORE] Property development group Sinarmas Land requested the Singapore Exchange (SGX) to suspend trading of its shares with effect from 9 am on Tuesday (June 3) after the Widjaja family-controlled Lyon Investments’ privatisation offer for all its shares closed on Monday. At the close of the offer at 5.30 pm on Monday, the offeror’s resultant…
Read MoreUS airlines oppose credit card fee crackdown they say could imperil free flight offers
[WASHINGTON] Major airlines said on Monday (Jun 2) that they oppose a new effort to advance legislation that would reduce fees charged by Visa and Mastercard on transactions, adding it could force them to stop offering rewards credit cards that give consumers frequent flyer miles for making transactions. American Airlines, United Airlines, Southwest Airlines and…
Read MoreStocks to watch: CapitaLand Ascendas Reit, Sinarmas Land, Oxley Holdings
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 3): CapitaLand Ascendas Reit (Clar): The manager said on Tuesday that it received in-principle approval for the listing and quotation of up to 202.4 million new units of Clar on the mainboard of the Singapore Exchange on Monday. The…
Read MoreMerck held talks to buy biotech MoonLake for over US$3 billion: FT
Published Tue, Jun 3, 2025 · 07:45 AM MERCK has held talks to buy Swiss biotech MoonLake Immunotherapeutics for more than US$3 billion, the Financial Times reported on Monday, citing three people familiar with the matter. MoonLake’s shares rose 19 per cent in extended trading. Merck submitted a nonbinding offer for MoonLake earlier this year,…
Read MoreChina’s rare earths grip gives Xi leverage in US trade duel
AFTER the US and China agreed in Geneva to lower tariffs from astronomical heights, tensions are now surging over access to chips and rare earths. And Beijing increasingly appears to have an edge. US President Donald Trump on Friday (May 30) accused China of violating the agreement struck last month, and sought a call with…
Read MoreGoogle Deepmind CEO says global AI cooperation ‘difficult’
[LOS ANGELES] Artificial intelligence pioneer and head of Google’s Deepmind, Demis Hassabis on Monday said that greater international cooperation around AI regulation was needed but “difficult” to achieve “in today’s geopolitical context”. At a time when AI is being integrated across all industries, its uses have raised major ethical questions, from the spread of misinformation…
Read MoreOil gains on supply concerns as wildfires disrupt Canada supply, Opec+ keeps output plans unchanged
[NEW YORK] Oil prices climbed nearly 3 per cent on Monday on supply concerns as producer group Opec+ decided not to accelerate plans to hike output and wildfires in Canada’s oil-producing province disrupted production. Brent crude futures settled US$1.85, or 2.95 per cent, higher at US$64.63 a barrel. US West Texas Intermediate crude gained US$1.73, or 2.85 per…
Read MoreDisney lays off hundreds in film, TV as industry woes linger
[LOS ANGELES] Walt Disney is laying off several hundred employees across its film and TV businesses, cuts that underscore the entertainment industry’s contraction is far from over. The staff reductions began on Monday (Jun 2) and are falling on employees in marketing, publicity, casting and development, along with corporate financial operations, according to the company. …
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