Posts by Liam Redmond
China’s DeepSeek to raise fresh capital at US$74 billion valuation ahead of onshore IPO
The AI startup has started early deliberations for a potential listing on Shanghai’s Star Market, sources say Published Wed, Jul 15, 2026 · 11:57 AM [HONG KONG/BEIJING] Chinese artificial intelligence startup DeepSeek is planning to launch a fresh fundraising round at a valuation of about 500 billion yuan (US$74 billion) ahead of a potential mainland…
Read MoreCiti shares drop as CEO Fraser plans deeper job cuts this year
Published Wed, Jul 15, 2026 · 11:43 AM CITIGROUP shares slumped after the bank’s top executives said they plan to bring forward job cuts and key technology investments, moves that could increase costs later this year. After reporting record earnings that beat expectations in key business lines, chief executive officer Jane Fraser told analysts and…
Read MoreChina slashes June oil refining volumes to six-year low as crude imports collapse
Processing volumes fall 18% year on year to 51.24 million tonnes – the lowest since March 2020 Published Wed, Jul 15, 2026 · 11:11 AM CHINESE oil refiners slashed output in June to the weakest level in six years, as the industry responded to worsening demand and disruptions to crude shipments from the Persian Gulf.…
Read MoreEnergy is the new water, says climate ambassador Ravi Menon
Asean needs to come up with policy responses that allow for it to be traded in a way that all parties benefit [SINGAPORE] As energy becomes a scarce resource like water, member states of Asean need to come up with policy responses that allow for energy to be traded in a way that all parties…
Read MoreMisuse of driver-assistance systems biggest risk to road safety: survey
Published Wed, Jul 15, 2026 · 10:21 AM [MILAN/STOCKHOLM] Motorists’ misuse of driver-assistance technology and drivers being distracted by in-vehicle features, rather than mechanical problems, are the biggest risks for road safety, according to a survey of transport specialists. The survey, published on Wednesday (Jul 15), reflects industry concerns about human error as some governments…
Read MoreKuroda’s negative rate surprise shocked his own BOJ board, minutes show
Dissenters were concerned over Kuroda’s proposal to charge 0.1% interest on a portion of financial institutions’ deposits at the BOJ Published Wed, Jul 15, 2026 · 09:28 AM [TOKYO] The Bank of Japan’s shock introduction of negative rates in 2016 drew intense criticism from within the board with some blasting it as half-baked and a…
Read MoreWells Fargo beats profit on trading boom, loan growth
Published Wed, Jul 15, 2026 · 08:09 AM WELLS Fargo beat Wall Street estimates for quarterly profit, boosted by strong investment banking fees and as it doled out more loans after its regulatory shackles were removed last year. The boost in its loan book came as consumers borrowed money for cars and credit cards, while commercial and…
Read MoreOpenAI’s first device will be movable, screenless speaker built as AI companion
OPENAI’S much-anticipated push into consumer devices is slated to begin with a mobile, screen-free smart speaker designed to be a new type of home computer for the AI era, according to people familiar with the matter. The product — still under development — is meant to serve as a human-like AI companion that lives in…
Read MoreOil prices rise 2% to one-month high as US-Iran attacks deepen supply disruption
Published Wed, Jul 15, 2026 · 06:16 AM OIL prices climbed about 2 per cent to a one-month high on Tuesday (Jul 14) after the US reimposed a naval blockade on Iran, which will reduce oil flows from the region through the Strait of Hormuz. Before the Iran war, about 20 per cent of global oil supplies flowed through the…
Read MoreJPMorgan posts record profit on big gains from dealmaking, stock trading
Published Tue, Jul 14, 2026 · 10:58 PM [NEW YORK] JPMorgan Chase reported a record second-quarter profit on Tuesday (Jul 14), as a wave of big-ticket IPOs and dealmaking helped drive investment banking fees to their highest levels since 2021, while its trading desk capitalised on volatile markets. Revenue rose across all business units at…
Read MoreS&P 500 and Nasdaq open higher as CPI, bank earnings take focus
Published Tue, Jul 14, 2026 · 09:50 PM [NEW YORK] The S&P 500 and the Nasdaq opened higher on Tuesday (Jul 14) after softer-than-expected inflation data fuelled bets that the Federal Reserve could take a less hawkish stance on interest rates, while investors assessed second-quarter results from major US banks. The Dow Jones Industrial Average…
Read MoreAI investment race could turn debt-fuelled boom to bust: BIS
Published Tue, Jul 14, 2026 · 09:32 PM THE race to build infrastructure for artificial intelligence is on track to surpass previous technological booms that ended up in severe market disruptions, the Bank for International Settlements (BIS) said. Borrowing and financial ties between hyperscalers and AI developers increase the risk of broader financial turmoil, if…
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