askST: What fresh graduates need to know about the new Graduate Industry Traineeships - The Straits Times

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askST: What fresh graduates need to know about the new Graduate Industry Traineeships  The Straits TimesView Full coverage on Google News
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2025-08-23 13:32:09Z
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LTA testing AI system that analyses bus camera footage to spot vehicles in bus lanes - CNA

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1. LTA testing AI system that analyses bus camera footage to spot vehicles in bus lanes  CNA
2. Measures to improve bus safety include stricter enforcement, technology use, driver support: Murali  The Straits Times

https://news.google.com/rss/articles/CBMikgFBVV95cUxPZU11MWk2QnpNNjk4NmhLemVhZ3V0UTFVTmVXQTF2VjFGei1wSC1PSk9FUVRBU08yNkJfU29HaFhyZDlpVVphMzhPRFA3bzVLQkZTREY0OEhfWEJmZ3FvZThEdEpJN3NKeVViTnJlbk9JTHJOSXAtOEtTaDNoWDQ3R2hjRDQ0c0pMVGd6OUNCcUxNZw?oc=5

2025-08-23 08:18:00Z
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What’s the best card to use with Amaze? - The MileLion

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What’s the best card to use with Amaze?  The MileLion
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2025-08-23 03:04:42Z
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US to take 10% equity stake in Intel, in Trump's latest corporate move - CNA

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1. US to take 10% equity stake in Intel, in Trump's latest corporate move  CNA
2. Trump says Intel has agreed to a deal for US to take 10% equity stake  The Straits Times
3. TSMC Considers Returning U.S. Government Subsidies  The Wall Street Journal
4. U.S. government takes 10% stake in Intel, as Trump expands control over private sector  CNBC
5. Intel Agrees to Sell U.S. a 10% Stake in Its Business  The New York Times

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2025-08-23 00:55:12Z
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Which Tech Company Is Uber Most Like? Its Answer May Surprise You - The New York Times

SAN FRANCISCO — Pop quiz: Which technology company does Uber, the ride-hailing giant on the cusp of an initial public offering, consider itself to be the most like?

Is it Lyft, its rival North American ride-hailing firm? Nope.

How about Didi Chuxing, Uber’s equivalent in China? Nah.

It’s Amazon, the e-commerce giant.

On the surface, the two companies have little in common. Amazon sells books, toilet paper, toys — pretty much everything, really — and it provides cloud computing services and makes artificially intelligent speakers. In contrast, Uber lets people hail rides through a mobile app.

But just as Amazon began as a modest online bookseller before growing into a digital retailing behemoth, Uber wants people to believe its ride-sharing business is the foundation for a larger “platform” spanning multiple transportation industries. Like Amazon, Uber is no stranger to taking on competitors across many areas to accelerate its growth. And also like Amazon, Uber is willing to lose geysers of cash to achieve its aims.

This Uber-is-like-Amazon argument will grow louder starting on Monday, when the ride-hailing firm’s top executives begin meeting investors on a so-called roadshow ahead of its I.P.O. next month. As part of its pitch, two people close to the company said, Uber plans to say that it is O.K. for it to lose money right now because — just like Amazon, which was unprofitable for years — it needs to burn cash to build out its business for the future.

Dara Khosrowshahi, Uber’s chief executive, has not been shy about the Amazon analogy.

“Cars are to us what books were to Amazon,” he said at a Fortune tech conference in July. “Just like Amazon was able to build this extraordinary infrastructure on the back of books and go into additional categories, you are going to see the same from Uber.”

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Amazon has always cared more about customers than Wall Street, which meant it was willing to spend aggressively to get ahead of competitors and create new businesses even if investors carped.CreditDemetrius Freeman for The New York Times

Uber declined to comment, citing the quiet period before it goes public. Amazon declined to comment on Uber.

Shawn Carolan, a venture capitalist at Menlo Ventures and an early investor in Uber, said the Amazon comparison is apt. “Because the ubiquitous need for transportation is so huge, they’re able to cross-sell different products to their existing customer base,” he said of Uber.

As it goes into its roadshow, Uber faces two main issues. One is that it needs to tell Wall Street a growth story — something to convince investors that its best and most lucrative days are still ahead of it. For years as a private company, that growth came easily as it expanded its service into more and more places across the world.

But nearly a decade later, that growth has slowed. In an amended offering prospectus on Friday, Uber said revenue growth in the first quarter was roughly 20 percent, less than half of what it was a year ago. As ride-hailing has evolved from a luxury business to a mass-market service, competitors have multiplied and the number of people using the service may be starting to max out as Uber finds fewer new locations to expand into.

Uber’s other issue is its lack of profit. The company lost $1.8 billion last year excluding onetime gains; it lost $1 billion or so in the first quarter of this year alone. Because ride-hailing is expensive to operate — Uber continually needs to spend to lure riders and bring on new drivers — some critics have wondered if it will ever be able to make money.

All of this explains why citing Amazon is so useful.

The Seattle-based retailer has always cared more about customers than Wall Street, which meant it was willing to spend aggressively to get ahead of competitors and create new businesses even if investors carped. Then just as Wall Street patience wore thin, Amazon produced profits that underlined the innovation machine that Jeff Bezos, its chief executive, had built over many years.

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“We want to kind of be the Amazon for transportation,” Mr. Khosrowshahi said.CreditAnastasiia Sapon for The New York Times

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Amazon’s chief executive, Jeff Bezos, invested in the business and made it seemingly impregnable in many areas.CreditJim Watson/Agence France-Presse — Getty Images

In 2014, for example, Amazon was hit hard by investors amid slowing sales growth and the introduction of the Fire Phone, a smartphone that landed with a thud. Then a year later, Amazon disclosed how large and profitable its cloud computing business had become. For almost a decade, Amazon had plowed money into building data centers and an army of engineers and sales people. When it finally broke out the details of the cloud business, it turned out that Amazon Web Services had $5 billion a year in sales and was growing almost 50 percent a year, with fat margins.

Now all of Amazon’s investments over time have made it seemingly impregnable in numerous areas, from logistics and delivery to cloud computing. Wall Street is not complaining about Amazon anymore, and it has become one of the world’s most valuable public companies with a market capitalization of about $960 billion.

“Uber, like Amazon, operates with an obsession on customer value over anything else,” said Mitchell Green, a venture capitalist at Lead Edge Capital, which invested in Uber.

Amazon’s experience is meaningful for Uber as it also expands into new businesses to set the stage for future growth.

Those include Uber Eats, its restaurant delivery service. Started in 2014 as an experiment, it became part of a line of thinking that Uber could one day deliver anything and everything to people whenever they wanted it, at the touch of a button. Internally, that idea was called Uber Everything.

While Uber Everything stalled, Uber Eats boomed. The division is on track to book more than $10 billion in deliveries in 2019, up from $6 billion in 2018. It is also projected to take a 27 percent share of the food delivery market by the end of 2019, up from 3 percent in 2016, according to Wedbush Securities.

Uber is also building Uber Freight, a service that matches local truck drivers with shippers in the United States and the European Union. It has contracted with more than 36,000 carriers serving more than 1,000 companies, according to filings, and the business generated more than $125 million in revenue in the final quarter of 2018.

In addition, Uber acquired Jump, an e-bike and scooter company, last year and is working on autonomous vehicles. Mr. Khosrowshahi has said he plans to make Uber the hub for many modes of transportation, from cars to bikes to scooters to cities’ public buses, trains and subway systems.

On Friday, the company also said in its filing that it was working on its payments infrastructure, which is used by more than 91 million people to pay for rides and by the company to instantly pay its drivers.

While it invests in its future, Uber will continue to lose money. So the company needs Wall Street to put up with its spending on these initiatives before they potentially pay off with profit. And it needs investors to be patient as it also works to turn its core ride-hailing business into a moneymaker.

That leads back to the Amazon comparison. If Amazon can pull it off, so the thinking goes, then Uber can, too.

“Just like Amazon sells third-party goods, we are going to also offer third-party transportation services,” Mr. Khosrowshahi said in an interview with Recode last year. “We want to kind of be the Amazon for transportation.”

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https://www.nytimes.com/2019/04/28/technology/uber-amazon-roadshow-ipo.html

2019-04-28 19:36:14Z
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China's BYD reports 632% jump in profits as rival Tesla falters - Quartz

Electric car maker BYD is speeding ahead of Tesla with respect to profitability. The Chinese company today (April 28) reported a 632% jump in profits in the first quarter from a year ago. Days earlier, the US car company led by Elon Musk announced one of its worst quarters ever.

BYD is the world’s largest electric vehicle maker (membership), though its brand isn’t widely recognized outside of China. It started out as a battery maker about 25 years ago and transitioned into the car business a little more than a decade ago, making both conventional fossil fuel-powered cars and “new energy vehicles.” The success of its first mass-produced hybrid caught the attention of legendary US investor Warren Buffett, who in 2008 bought a 10% stake in BYD for $230 million. That investment seems to be really paying off right now.

There is increased demand for electric vehicles in China, BYD says, and it expects continued growth. The company’s profits rose to about 750 million yuan ($111 million) in the first quarter, compared to 102 million yuan a year ago. BYD sold 117,578 new energy vehicles in the quarter, up 5% from a year ago. The company is now selling more electric vehicles than conventional cars.

“New energy vehicles are expected to continue to sell well in the second quarter, and new energy vehicle sales and revenues continue to maintain strong growth,” the company’s latest stock exchange filing reports. According to Reuters, BYD expects to sell 655,000 cars in 2019, a substantial portion of the 1.6 million electric vehicle total that China’s Association of Automobile Manufacturers predicts will be sold this year.

In stark contrast to this positive news for BYD, its US rival Tesla lost nearly $700 million in the first quarter. It attributed over $120 million in losses to a higher return rate than expected after it raised prices for the Model S and Model X. In its quarterly earnings call, Tesla chief financial officer Zachary Kirkhorn described the first quarter as “one of the most complicated… in the history of the company.”

Beyond its faltering quarterly profits, Tesla also had some bad news in China to contend with recently. Last week, a video that circulated widely on Chinese social media showed a parked Tesla Model S abruptly caching fire in Shanghai, where the company plans to build its first overseas factory. Earlier in the month, a parked Tesla in the US also caught fire.

The two electric vehicle makers do have something in common, however. Tesla and BYD both plan to expand into each other’s markets. China is the world’s largest car market, and the US comes second.

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https://qz.com/1606881/chinas-byd-reports-632-jump-in-profits-as-rival-tesla-falters/

2019-04-28 18:44:00Z
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Technology's $1 Trillion Rally Keeps On Rolling With ETF Inflows - Bloomberg

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Technology's $1 Trillion Rally Keeps On Rolling With ETF Inflows  Bloomberg

For technology stocks, the superlatives are endless this year. But rather than take profits and run, investors are flooding the space.

https://www.bloomberg.com/news/articles/2019-04-28/billions-keep-on-coming-after-technology-s-1-trillion-rally

2019-04-28 17:05:00Z
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