Tag: Business
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Chip stocks plunge, but bargain-hunters stem losses in other tech names
June 23 : U.S. chip stocks stumbled on Tuesday, but the broader market’s initial slump brought out bargain-hunting investors, stemming the falloff in other companies central to the AI infrastructure rally that have powered the market over the last few years.The tech-heavy Nasdaq Composite index was still down
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Meta launches cheaper range of AI smart glasses starting at $299
June 23 : Meta Platforms and EssilorLuxottica on Tuesday announced a new range of lower-cost AI smart glasses, building on the success of their Ray-Ban wearable devices. The new Meta Glasses start at $299, making them far more affordable than the $800 Ray-Ban Display glasses launched last year. The Fac
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India’s Bajaj Auto says ransomware attack hits systems
June 23 : India’s Bajaj Auto on Tuesday said a ransomware attack earlier in the day impacted the automaker and its unit Bajaj Auto Technology’s systems.The company said it initiated necessary precautionary actions and protocols to mitigate the impact of the incident, adding that these measures have so far bee
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Stocks drop as Fed rate bets hit tech royalty; dollar gains
LONDON, June 23 : Global stocks fell on Tuesday, led by broad-based declines in technology shares, including SpaceX, as growing expectations for the Federal Reserve to be more aggressive in tackling inflation drove investors into bonds and the dollar.Futures on the Nasdaq were down more than 2.5 per cent, sug
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SpaceX extends losses after $600 billion wipeout, tech stocks slide again
June 23 : Shares of Elon Musk’s SpaceX slipped further on Tuesday following a three-session selloff that wiped out more than $600 billion from the company’s market value, with the highly valued technology sector on track to extend the rout.The rocket and AI company’s shares fell 1.9 per cent to $151.6 earlie
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UK tribunal gives go ahead for $4 billion lawsuit against Apple over iCloud services
LONDON, June 23 : Britain’s competition tribunal has approved a £3 billion ($4 billion) lawsuit against Apple over its iCloud storage service, consumer group Which? said on Tuesday, clearing the way for tens of millions of consumers to join a collective action.The Competition Appeal Tribunal granted earlier
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Iran says card-based banking hit by cyberattack on three lenders
DUBAI, June 23 : Iran’s state-owned banking technology provider said on Tuesday that cyberattacks disrupted card-based banking services at Bank Melli, Bank Saderat and Bank Tejarat.This had prompted a temporary suspension of all card-related operations at the three banks to prevent further unauthorized access
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Finland may approve Tesla’s supervised self-driving software before EU vote
HELSINKI, June 23 : Finland may approve Tesla’s self-driving assistance system earlier than a European Union-wide decision expected in October, the country’s transport authority said on Tuesday.The Netherlands in April became the first European country to grant provisional approval for Tesla’s Full Self-Drivi
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French mid-sized firms adopt AI but see few gains, survey shows
June 23 : Generative AI use is spreading quickly among French mid-sized companies, but most have yet to report clear productivity benefits, according to a survey by state-backed investment bank Bpifrance.Bpifrance said in its annual barometer of Entreprises de Taille Intermédiaire, or ETIs, that 77 per cent
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Meta announces new range of smart glasses starting at $299
June 23 : Meta Platforms on Tuesday announced a new range of AI smart glasses in partnership with EssilorLuxottica, starting at $299.
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