Tag: Business
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TikTok policy chief defends safety measures amid EU push to limit children’s social media access
TikTok’s policy chief defended the platform’s safety measures as the European Union pushes ahead with restricting children’s access to social media.
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UK’s BBC warns its current funding model is not sustainable
LONDON, July 14 : The BBC warned its current funding model was not sustainable to fund its public broadcasting mission in its annual report on Tuesday, highlighting the gap between the number of users it has and those who pay for its services.The organisation, which was thrown into crisis last year over accus
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AI startup Reflection signs over $1 billion computing deal with Nebius
July 14 : AI startup Reflection said on Tuesday it has signed a more than $1 billion deal to secure computing capacity from Nebius, including access to Nvidia’s latest chips.The move builds on Reflection’s June agreement with SpaceX for computing capacity, a deal that media reports said would see the startup
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IBM forecasts preliminary Q2 revenue below estimates as spending shifts to AI
July 14 : IBM’s preliminary second-quarter revenue forecast came below Wall Street estimate on Tuesday, as customers prioritized spending on AI infrastructure, including servers, storage and memory purchases, sending its shares slumping 17 per cent in premarket trading. The results reflect an industry-wide s
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AI finance startup Flex doubles valuation to about $1.2 billion, source says
July 14 : Flex, an AI startup pitching itself as a one-stop shop for the banking needs of mid-sized business owners, said it raised $70 million in a round led by Halo Fund, a venture firm co-founded by Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney.The company did not disclose its valuation on…
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Stocks making the biggest moves premarket: JPMorgan Chase, Bank of America, IBM, Apple & more
These are the stocks posting the largest moves in early trading.
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Oil hits four-week high as US-Iran conflict escalates
July 14 : Oil prices rose on Tuesday to their highest in four weeks, after the U.S. reimposed a naval blockade of Iran and renewed attacks between Washington and Tehran heightened concerns over energy flows through the Strait of Hormuz.Brent crude rose to its highest since June 12 and WTI to its highest since
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EU approves €659 million in German aid for four chip plants
BERLIN, July 14 : The European Commission on Tuesday approved €659 million ($751 million) in German state aid to support four first-of-a-kind semiconductor facilities in Germany, saying the projects will strengthen the EU’s position and autonomy.”Today’s approval of Germany’s support for four new projects i
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Pollution from Musk’s unpermitted xAI power project hits hardest in Black communities
July 14 : Elon Musk’s artificial intelligence company xAI has installed 59 natural gas turbines for its Colossus 2 data center project in Tennessee without securing federal clean air permits, according to communications between regulators and xAI representatives.Potential emissions from the turbines are far
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Tower Semiconductor to invest $3 billion in Japan, backed by government grants
July 14 : Israeli chipmaker Tower Semiconductor said on Tuesday it will invest $3 billion to bolster chip manufacturing in Japan, including $1 billion in grants from the Japanese government.U.S.-listed shares of the company rose more than 18 per cent in premarket trading after the announcement, which is expec
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