Author: Eka Gerona

A Succession-like feud has engulfed one of Singapore’s richest families as property tycoon Kwek Leng Beng accused his son of plotting a boardroom takeover.Mr Kwek says he has filed court papers accusing his son Sherman of trying to take control of the real estate firm City Developments Limited (CDL).He is seeking to fire his son who is chief executive of CDL. “This is necessary to deal with this attempted coup at the board level and restore corporate integrity,” said the octogenarian Mr Kwek, who is CDL’s executive chairman.CDL, Singapore’s biggest listed property developer, has halted trading in its shares on…

Instagram is reportedly considering launching its short-form video feature, Reels, as a separate app as the future of Chinese-owned TikTok remains uncertain in the US.The social media platform’s boss Adam Mosseri told staff about the potential move this week, according to technology industry–focused business publication The Information, which cited a person who heard the remarks.Instagram’s parent company Meta did not immediately respond to a BBC request for comment.In January, US President Donald Trump granted TikTok a 75-day extension to comply with a law signed by then-President Joe Biden that requires a sale or ban of the platform.At the time, he…

Tulsi Gabbard, the director of US National Intelligence, says she was not informed in advance about the UK government’s demand to be able to access Apple customers’ encrypted data from anywhere in the world.Earlier this year, the UK government asked for the right to see the data, which currently not even Apple can access.The tech giant last week took the unprecedented step of removing its highest level data security tool from customers in the UK.In a letter, Ms Gabbard said she was seeking further information from the FBI and other US agencies and said, if the reports were true, the…

ReutersUkraine’s President Zelensky first discussed a minerals deal with then presidential candidate Donald Trump last September.Ukraine says it has agreed to the terms of a major deal that would give the US access to its deposits of rare earth minerals.Kyiv hopes the deal – which would give the US a financial stake in the country – will encourage the White House to protect Ukraine if the war with Russia reignites after a potential ceasefire.US President Donald Trump said an agreement would help American taxpayers “get their money back” for aid sent to Ukraine throughout the war and would give Ukraine…

Republicans in the US House of Representatives narrowly passed a multi-trillion dollar government spending bill on Tuesday, a major boost for President Donald Trump that advances his 2025 agenda.The 217-215 vote was seen as a key early test for Republican House speaker Mike Johnson, who cancelled an earlier vote as it appeared he did not have enough support.Several Republicans wanted more fiscal discipline from a budget that includes $4.5 trillion in tax cuts, funded partially by spending cuts but also by potentially increasing the US government’s substantial debt pile.But the bill eventually passed along party lines, with all Democrats voting…

BP is expected to announce it will slash its renewable energy investments and instead focus on increasing oil and gas production.The energy giant will outline its strategy later following pressure from some investors unhappy its profits and share price have been much lower than its rivals.Shell and Norwegian company Equinor have already scaled back their plans to invest in green energy. Meanwhile US President Donald Trump’s “drill baby drill” comments have encouraged investment in fossil fuels and a move away from low carbon projects.Some shareholders and environmental groups have voiced concerns over any potential ramping up on production of fossil…

Shares in electric car maker Tesla have slumped more than 9% after EU and UK sales fell by almost half in January.The drop in Tesla shares took the company’s valuation back below $1trn for the first time since November 2024.Tesla has been facing stiff competition in the European market from Chinese and other manufacturers.In addition, Tesla owner Elon Musk has been making controversial political waves on both sides of the Atlantic, an analyst said.Tesla sales in January bucked European electric car sale trends, which grew by more than a third in the month, according to trade body Acea.Instead, Tesla sales…

Theranos founder and former chief executive Elizabeth Holmes has lost an appeal against her conviction for defrauding investors in her blood-testing company.Holmes was sentenced to more than 11 years in prison.In her appeal, she challenged trial evidence and testimony and argued that statements by her ex-business and romantic partner Ramesh “Sunny” Balwani about his level of responsibility for Theranos’ financial model should have been included. He was jailed for more than 12 years.The Ninth Circuit Court of Appeals rejected the arguments.Judge Jacqueline H Nguyen wrote that Theranos’s claim of being able to run blood tests with a drop from a…

Singapore’s biggest bank says it expects to cut 4,000 roles over the next three years as artificial intelligence (AI) takes on more work currently done by humans.”The reduction in workforce will come from natural attrition as temporary and contract roles roll off over the next few years,” a DBS spokesperson told the BBC.Permanent staff are not expected to be affected by the cuts. The bank’s outgoing chief executive Piyush Gupta also said it expects to create around 1,000 new AI-related jobs.It makes DBS one of the first major banks to offer details on how AI will affect its operations.The company…

Groups representing federal employees sued over Elon Musk’s latest actions, after the entire workforce received an email instructing them to explain their work or face being fired.The suit, filed by unions and advocacy groups, alleges that the email violates laws regarding federal workforce and that the Office of Personnel Management (OPM), which sent the email, does not have the authority to make the demand.Employees found the email in their inbox on Friday. It asked them to provide a list of five accomplishments for the past week, without revealing classified information.The message sparked confusion and alarm among workers, particularly after several…