Tag: Business
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A pension shift in Japan may hurt some foreign money managers
HONG KONG, July 13 : Global asset managers such as State Street and Legal & General face a potential hit of tens of millions of dollars in money management fees after Japan signaled a goal to channel more state retirement funds into domestic assets.Investors bet that billions of dollars could be shifted into
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Meta expands Louisiana data center to 5 gigawatts compute capacity
July 13 : Meta said on Monday its data center in Richland Parish, Louisiana will expand to 5 gigawatts of compute capacity, in a bid to support the social media company’s AI ambitions. Since breaking ground in December 2024, local Louisiana businesses have received more than $1.6 billion in contracts from Met
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Strategy bitcoin sales shine light on faltering crypto hoarding companies
NEW YORK, July 13 : A move by Michael Saylor’s bitcoin stockpiling company Strategy to authorize more bitcoin sales has once again shone a spotlight on a clutch of public crypto hoarding companies, which have been buffeted by falling token prices. Strategy’s shares briefly bounced on Friday after analysts ble
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White House to rally utilities, data centers over AI power costs
WASHINGTON, July 13 : The White House plans to bring together utility companies and data center developers for a voluntary pledge designed to ensure rapid growth in electricity demand from artificial intelligence does not drive up power bills for households and businesses, according to three people familiar with the
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SK hynix plunges after NASDAQ debut amid profit-taking, diminishing earnings optimism
The South Korean chip giant plunged more than 15 per cent on Monday (Jul 13).
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Oil prices spike on fresh US-Iran attacks, tech hammers on stocks again
Seoul led losses in most Asian stocks, dragged down by market heavyweight SK hynix’s plunge of more than 15 per cent.
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Korean Air Q2 profit falls 34% on higher fuel costs, revenue hits record high
HONG KONG, July 13 : Korean Air Lines reported a 34 per cent drop in second-quarter operating profit on Monday, as surging fuel costs weighed on earnings despite the carrier posting record revenue for the quarter.• The South Korean flag carrier said operating profit for the April-June period fell to 261.8 b
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India’s TCS bags multi-million contract from industrial giant ABB
BENGALURU, July 13 : Tata Consultancy Services has secured a multi-million contract from Swiss-Swedish industrial technology firm ABB, India’s top software services firm said on Monday.Here are some details:• TCS will design and run ABB’s global network ecosystem as an AI-driven service and secure it
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EU to propose limit on kids’ social media access, von der Leyen says
BRUSSELS, July 13 : The European Commission will present a proposal to limit children’s access to social media platforms after the summer, Commission President Ursula von der Leyen said on Monday.”Our children need time in the real world. Time to play, time to build friendships, time to make mistakes. Time to
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Shein scheduled for Hong Kong IPO hearing on Thursday, sources say
LONDON/HONG KONG, July 13 : Fast-fashion retailer Shein is scheduled for a Hong Kong initial public offering hearing with the city’s stock exchange on Thursday, two sourceS with knowledge of the matter said, a step which will bring it closer to its much-awaited market debut. The fast-growing commerce company
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