Tag: Business
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Analysis:AI hopes and fears dominate global central bank meet
SINTRA, Portugal, July 1 : Seeping into just about every conversation at this week’s meeting of the world’s top central bankers was one big unknown: how artificial intelligence will impact the world economy and therefore their mandate to ensure financial stability.The consensus of those discussions at the ECB
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GM reports 4.2% decline in Q2 U.S. sales as EV demand falls
General Motors’ second-quarter U.S. sales fell 4.2% as year-over-year demand for its all-electric vehicles and Chevrolet Silverado pickup trucks declined.
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Swedish court orders Google to pay $1.5 billion to Klarna in antitrust damages
STOCKHOLM, July 1 : A Swedish court on Wednesday ordered Alphabet’s Google to pay about $1.5 billion in antitrust damages to PriceRunner, the price comparison business owned by payments platform Klarna.The award, equivalent to around 14.3 billion Swedish crowns, comes amid growing scrutiny of U.S. Big Tech co
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Meta building cloud business to sell excess AI capacity, Bloomberg News reports
July 1 : Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday, as tech giants seek returns on costly AI investments amid worries about overspending.The plans are still in development and it’s possible the strategy could change, the report sai
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Sony to end discs for new PlayStation releases as gaming shifts online
July 1 : Sony said on Wednesday it will stop producing physical discs for all new games released on PlayStation consoles from January 2028, marking a full shift to digital distribution as consumer purchases continue to move online.Digital downloads accounted for about 80 per cent of Sony’s full-game software
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World stocks pause after rally as focus turns to Warsh
MILAN, July 1 : World stocks edged lower on the first day of the third quarter on Wednesday after a strong rally, as investors awaited remarks from Fed Chair Kevin Warsh, while softer euro zone inflation cooled bets on further interest rate hikes.Oil prices stayed near pre-war levels as investors weighed sign
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Dollar bulls gain ground even as most FX strategists still expect weakness: Reuters poll
BENGALURU, July 1 : The U.S. dollar’s recent rebound will fade in coming months as cooling oil prices temper inflation fears and Federal Reserve rate hike bets, a majority of FX strategists said in a Reuters poll, though a sizable minority say the strength is here to stay. A brief respite from the U.S.-Isra
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Micron, GM sign semiconductor supply agreement for vehicles
July 1 : Micron Technology and General Motors have signed a supply agreement for memory and storage platforms used in vehicle production, the companies said on Wednesday.
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FactSet tops quarterly profit estimates on steady demand for data, analytics services
July 1 : Financial data firm FactSet reported third-quarter profit above Wall Street estimates on Wednesday, buoyed by growth in subscriptions.Geopolitical uncertainty owing to the U.S.-Israeli war with Iran has rattled global markets, boosting demand for FactSet’s data and analytics services as investors man
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Meta to sell excess AI computing capacity via cloud business, Bloomberg News reports
July 1 : Meta Platforms is building a cloud business to sell excess AI computing capacity, Bloomberg News reported on Wednesday citing people familiar with the matter.Shares of the company were up more than 6 per cent in premarket trading. Reuters could not independently verify the report.
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