Author: Journalist

SINGAPORE – Global ratings agency S&P said on Dec 5 it has placed Singapore Post (SingPost) on CreditWatch negative, following a change in its future strategy and the sale of its Australian business. On Dec 2, the postal service provider said it has entered a share purchase agreement to divest its Australian business at an enterprise value of A$1 billion (S$870 million). This was part of the outcome of a strategic review, launched earlier in 2024, seeking to explore strategic options to enhance its business value and maximise shareholder value. S&P believes that the sale will be “transformative” for SingPost and…

The transformative potential of ML and generative AI to drive hard-hitting business outcomes, such as improved productivity and innovation, is undeniable. However, foundational data issues are limiting these opportunities. Gartner predicts that at least 30% of generative AI projects will be abandoned due to issues such as poor data quality, among other factors. With more data being produced than ever before and new sources of data emerging daily, organisations are finding it harder to derive value from critical information dispersed across the cloud, the edge, data centres, mainframes, and end-user devices. IT leaders agree: 73% recognise that some of their…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldPresident-elect Donald Trump has named venture capitalist David Sacks as the White House’s artificial intelligence and cryptocurrency tsar, the latest confidant of Elon Musk to receive a top appointment in the new government.Sacks, who was an early employee alongside Musk at PayPal, is a co-host of the All-In podcast and emerged as one of the earliest and most vocal Silicon Valley supporters of Trump, hosting a fundraiser for the candidate in San Francisco in June.“David has the knowledge, business experience,…

Zenefits CEO David Sacks speaks at the TechCrunch Disrupt conference in San Francisco, Calif.Paul Chinn | San Francisco Chronicle | Hearst Newspapers via Getty ImagesVenture investor and podcaster David Sacks will join the Trump administration as the “White House A.I. & Crypto Czar,” President-elect Donald Trump announced on Truth Social on Thursday.Sacks will guide the administration’s policies for artificial intelligence and cryptocurrency, Trump wrote. Some of that work includes creating a legal framework for crypto, as well as leading a presidential council of advisors on science and technology.”David will focus on making America the clear global leader in both areas,”…

Stock Market News Today Live Updates: In an ever-evolving financial world, staying informed about stock market trends is crucial. Our Stock Market News provides real-time updates, insightful analysis, and in-depth coverage of the global financial landscape. From major index movements and corporate earnings to economic indicators and geopolitical events, we deliver the latest information impacting your investments and the broader economy. Our goal is to empower you with a clear understanding of market dynamics, investor sentiment, and potential opportunities, keeping you connected to the essential developments shaping the world of finance. Stay ahead with timely updates and expert perspectives on…

A market in Tokyo in June 2023.Richard A. Brooks | Afp | Getty ImagesChina stocks gained Friday ahead of a key policy meeting reportedly set for next week, while other Asia markets tracked Wall Street declines overnight.Hong Kong’s Hang Seng index was up 1.5% in its final hour of trade, while mainland China’s CSI 300 gained 1.31% to close at 3,973.14.China’s top leaders are reportedly kicking off an annual economic planning meeting next week, where the authorities will discuss economic targets and additional stimulus plans for 2025.Market participants are hoping for announcements of measures to shore up the faltering economy and…

Traders work on the floor of the New York Stock Exchange during morning trading on November 26, 2024 in New York City.Michael M. Santiago | Getty ImagesStocks rose after November jobs data came in slightly better than expected on Friday, but not so hot as to deter the Federal Reserve from cutting rates again later this month.The Dow Jones Industrial Average gains 90 points, or 0.2%. The S&P 500 climbed 0.4%, and the Nasdaq Composite advanced 0.6%.The November labor report, released on Friday morning, revealed that nonfarm payrolls increased by 227,000 in November, above the Dow Jones estimate of 214,000…

European markets offer relative value European equities present a more compelling valuation picture in late 2024, with the United Kingdom (UK) CAPE ratio at 18.64 and Germany’s at 20.07. Both readings sit well below US levels. The broad European market trades at a significant discount to the US, with sector-adjusted price-to-earnings ratios roughly 18% below American counterparts. This gap has widened in recent years. UK equities, in particular, appear attractively valued, with the FTSE 100 trading at historically low multiples. This could present opportunities for long-term investors seeking value. While European markets face their own challenges, including slower growth and…

Cryptocurrency prices and stocks pared their early gains from Thursday after bitcoin hit a record high and finally cleared the highly-anticipated $100,000 threshold. The fresh all-time high comes after President-elect Donald Trump on Wednesday announced his nominee to lead the Securities Exchange Commission and a positive comparison from Federal Reserve Chair Jerome Powell. ↑ X NOW PLAYING Bitcoin’s $100,000 Milestone: What Does It Mean For Investors? Bitcoin spiked to $103,900 early Thursday, CoinMarketCap data shows, surpassing its previous high of $99,768 from early November. Bitcoin slid back near $99,200 by Thursday afternoon. The cryptocurrency has steadily tested new records in…

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