Tag: Business
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India’s TCS partners with Anthropic to drive enterprise AI scaling
June 11 : India’s Tata Consultancy Services has partnered with Anthropic to launch an alliance to drive enterprise AI scaling, the country’s largest software services exporter said on Thursday.The partnership comes at a time when investors are concerned that AI tools will disrupt the traditional, labour-inten
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Stocks drop, oil rises as Iran worries traders
HONG KONG: Fresh worries about the Middle East ceasefire and the prospect of a US interest rate hike hit stocks and oil prices Thursday (Jun 11), following a rollercoaster week for markets that has sent shivers through trading floors.Investors took a little heart from closely watched data Wednesday that showe
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Analysis:Japan governance reforms set to prise open $1.8 trillion cash hoard
TOKYO, June 11 : Proposed revisions to Japan’s governance code that stress the need for efficient use of cash have raised expectations among investors that corporate hoarders will start to mobilise their $1.8 trillion money mountain.The revisions, to be finalised in the summer, could see companies return more
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Maybank says it is not under investigation in Indonesia after staff questioned
KUALA LUMPUR, June 11 : Malayan Banking Berhad said it was not the subject of any investigation in Indonesia, after Bloomberg had reported that some of its bankers were being questioned by authorities in connection with a probe involving the Salim Group. Bloomberg reported on Wednesday, citing people familia
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Shares retreat as techs extend losses, US strikes on Iran lift oil
SINGAPORE: Asian stocks fell on Thursday (Jun 11), weighed down by a Wall Street selloff after a hotter-than-expected US inflation reading, while renewed US strikes on Iran fuelled a rise in oil prices.MSCI’s broa
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OpenAI considers drastic price cuts, anticipating war for users with Anthropic, WSJ reports
June 10 : OpenAI is considering drastically reducing the prices it charges users as it seeks to win customers from its competitor Anthropic, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.The company might lower prices for tokens, the central unit for gauging AI costs, t
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Oil rises $2 as Iran announces closure of Strait of Hormuz following US strikes
June 11 : Oil prices climbed more than $2 a barrel Thursday as Iran declared the critical energy chokepoint, the Strait of Hormuz, closed after the U.S. launched additional strikes against Iran.Brent futures rose $2.30, or 2.47 per cent, to $95.40 a barrel, while U.S. West Texas Intermediate (WTI) crude climb
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Japan business mood sours in April-June as Middle East war hits
TOKYO, June 11 : Japanese business sentiment soured in April-June for the first time in four quarters, a government survey showed on Thursday, a sign of growing economic pain from the Middle East conflict.An index measuring big companies’ sentiment fell to -0.5 per cent point in the second quarter following a
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Oracle’s AI spending blows past estimates, raising worries over growing debt
June 10 : Oracle on Wednesday forecast capital spending plans for fiscal 2027 above Wall Street estimates, as the cloud computing company said it will also raise more debt in 2027, reflecting the staggering scale of cash burn needed to build out its AI infrastructure.Its shares fell 8.9 per cent in extended t
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South Korea presses EU for fair treatment on new steel import duties
SEOUL, June 11 : South Korean President Lee Jae Myung asked the European Union to give Korean steel makers “favorable consideration” as the bloc gets set to raise import tariffs on July 1, his office said on Thursday. Lee made the request during a summit with European Council President Antonio Costa and Europ
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