Maeve Turner
Google fined $1 billion by EU over search and Play Store antitrust rules
The European Commission has fined Google €890 million for anti-competitive practices in its search engine and app store. The ruling requires the company to treat third-party services fairly and allow developers to promote alternative payment methods.
Singapore core inflation rises to 1.6 percent in June
Singapore's core inflation increased to 1.6 percent in June as consumer prices rose across food, services, and retail sectors. Analysts are currently weighing these figures against the central bank's potential policy outlook.
Labor avoids deep economic debate at national conference amid party unity
The Labor Party's national conference focused on maintaining a disciplined front, sidestepping contentious economic debates to prioritize targeted relief.
Ride-hailing platforms extend temporary fees on rides until Sep 30
Major ride-hailing operators in Singapore are maintaining driver-fee surcharges to support drivers as fuel prices remain elevated due to global instability.
Business rates to be cut by 20% for pubs, clubs and music venues in England
The government is introducing a 20% business rates reduction for nearly 32,000 hospitality businesses to help alleviate rising financial pressures.
Macquarie Group names Greg Ward CEO as Shemara Wikramanayake to retire
Greg Ward will become Macquarie Group's next CEO when Shemara Wikramanayake steps down in November 2026. The move follows Wikramanayake's 40-year career at the bank, during which the firm's market valuation grew significantly.
Moonshot AI accused of stealing US technology and using banned Nvidia chips
White House officials allege that Moonshot AI utilized distillation to train its system and acquired restricted Nvidia servers to bypass trade controls. These claims arrive as the administration considers potential sanctions ahead of planned diplomatic meetings.
Macquarie's high profile CEO Wikramanayake to retire, replaced by bank veteran
Shemara Wikramanayake is stepping down as Macquarie CEO, with internal veteran Greg Ward appointed to succeed her to provide continuity in the firm's strategy.
Florida teen drops Meta lawsuit days before Los Angeles trial
The plaintiff dropped his case against Meta following settlements with YouTube, TikTok, and Snap. His attorneys cited concerns about a grueling trial.
Meta lawsuit over teen social media addiction withdrawn days before trial
The plaintiff dropped his case against Meta without receiving any payment, shifting focus to ongoing state-level legal battles over platform safety.
Oil prices climb 3 percent as market reaction to Iran war persists
Brent crude oil prices have reached $94.07 as military conflict in the Strait of Hormuz disrupts global energy transit. This escalation threatens shipping routes and contributes to rising inflationary pressures.
UK Prime Minister Andy Burnham scraps electricity tax to spark growth
U.K. Prime Minister Andy Burnham has announced the removal of the tax on home electricity to provide cost-of-living relief. The government will fund this by cancelling plans for a digital ID to maintain fiscal discipline.
AMD strikes multi-billion dollar AI server deal with Anthropic
AMD has entered a multi-billion dollar agreement to supply Anthropic with Instinct MI450 chips to help the firm scale its AI infrastructure and diversify hardware.
Taylor Farms linked to Cyclospora outbreak amid questions over FDA delay
A widespread cyclosporiasis outbreak has sickened thousands across the U.S., with investigations focusing on Taylor Farms and federal surveillance challenges.
Supermicro shares surge 16% as margin outlook lifts on $60bn backlog
Supermicro shares climbed after the company disclosed a sharper-than-expected margin outlook and a record-size order backlog. The results showed quarterly profit growth alongside a major upgrade to the company's gross margin projections.
Global stocks rise as energy surge offsets yen hitting 40-year low
Global markets show resilience as an energy sector rally offsets the Japanese yen's decline to its weakest level since 1986. Investors are now closely watching upcoming tech earnings and central bank policy for signals on inflation.
Nehal Gandhi book exposes power imbalances in donor-grantee relationships
Nehal Gandhi argues that philanthropic 'shape-shifting' to satisfy donor expectations often undermines community-rooted needs. She calls for a shift toward reciprocity and collaboration to replace traditional, transactional funding models.
Supermarkets are not responsible for rising global grocery prices
Economic analysis suggests that global grocery price hikes are driven by supply chain costs and commodities rather than retail profit-taking. Experts warn that proposed state-run supermarket initiatives may destabilize markets without addressing fundamental inflation drivers.
Trump announces 100% tariff on generic drug imports, two‑year grace period
The U.S. will impose significant tariffs on generic drugs produced outside the country, providing a two-year window for firms to shift production stateside.
IRAS imposes $6.8m in taxes and penalties on nightclubs over flower garlands
Singapore’s tax authority has penalized eight nightclubs for failing to correctly declare income from flower garland sales. The enforcement action follows audits that uncovered systematic under-reporting of GST and income for non-resident performers.