Tag: Business
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Meta, Anthropic in talks for potential $10 billion compute lease deal, NYT reports
July 17 : Meta Platforms is in talks to lease computing power to Anthropic in a potential deal worth as much as $10 billion over two years, the New York Times reported on Friday, citing three people with knowledge of the discussions.Shares of the social media giant slightly pared losses on the news to trade…
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Dollar steadies on safe-haven demand but set for weekly decline
LONDON/NEW YORK, July 17 : The dollar was flat on Friday, on track for a weekly decline as tame U.S. inflation data led traders to cut bets on imminent rate hikes from the Federal Reserve. Iran and the United States exchanged intensifying fire in a week-long escalation that has largely unravelled last mon
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Musk’s X, major labels end dispute over music on social-media platform
July 17 : A group of major music publishers including Universal Music Group and Sony Music have agreed to end a legal dispute with Elon Musk’s X Corp over the use of their music on the X social-media platform, according to federal court filings.X Corp and the music labels asked a Tennessee federal court on…
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BofA names senior executives to drive AI adoption in global markets-memo
NEW YORK, July 17 : Bank of America has announced senior appointments to drive AI adoption and implementation across its global markets group, according to an internal memo seen by Reuters on Friday.The bank named Kevin Milsom as head of platforms AI transformation, according to the memo by Ashok Krishnan, he
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Zoox recalls self-driving cars because they may not detect smoke
WASHINGTON, July 17 : Amazon.com self-driving car unit Zoox said Friday it will recall its fleet of 105 autonomous vehicles because they may not detect heavy smoke and could impede emergency personnel.Last week, the top U.S. auto safety official said self-driving car companies must quickly address a “clear
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US import prices unexpectedly rise in June
WASHINGTON, July 17 : U.S. import prices unexpectedly rose in June as declines in the costs of food and energy products were more than offset by higher prices for capital and consumer goods, leading to the largest annual increase in imported inflation in nearly four years.Import prices increased 0.3 per cent
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Apple unseats Nvidia to become world’s most valuable company as AI bets shift
July 17 : Apple overtook Nvidia on Friday to become the world’s most valuable company, reshuffling the top ranks of tech heavyweights as investors reassess the outlook for artificial intelligence.Apple was last valued at $4.88 trillion as its shares held steady, while Nvidia was roughly at $4.86 trillion, fol
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Netflix tumbles as slowing growth, less viewership data spook investors
July 17 : Netflix shares sank more than 10 per cent premarket on Friday after the streaming giant forecast another quarter of slower revenue gains and scaled back viewership data, fueling fears that its industry-beating growth may have peaked.In its latest disclosure pullback, the company cut the frequency of
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Exclusive-Saudi PIF set to win EU nod for Electronic Arts deal under subsidy rules, sources say
BRUSSELS, July 17 : A group of investors including Saudi Arabia’s Public Investment Fund is set to secure European Union approval for its $55 billion acquisition of video game developer Electronic Arts under EU subsidy rules, people familiar with the matter said. Saudi Arabia’s $1 trillion wealth fund, Jared
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Indian regulator warns of ‘boss scam’, a cyber fraud targeting top executives
MUMBAI, July 17 : Indian markets regulator on Friday issued a warning against a cyber fraud involving impersonation of CEOs and other senior executives of companies to trick employees into transferring funds. The Securities and Exchange Board of India (SEBI), while referring to this as ‘boss scam’, said the w
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