Tag: Business
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Oil jumps after settlement as US revokes general license for Iran oil sales
NEW YORK, July 7 : Oil prices settled 3 per cent higher on Tuesday and then extended gains post-settlement, after the U.S. revoked the general license that authorized the sale of Iranian crude oil. Reports of attacks on vessels near the Strait of Hormuz also revived fears of disruptions to tanker shipping.Bre
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Dollar edges higher after data as yen holds near 40-year low
NEW YORK, July 7 : The dollar rose modestly on Tuesday following consecutive sessions of slight declines while the yen held near a four-decade low, as investors continued to watch for signs of possible intervention by Japanese authorities to support the currency.The greenback showed a muted reaction to report
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Meta expands generative AI tools with Muse Image rollout
July 7 : Meta Platforms said on Tuesday it is rolling out Muse Image, its first image-generation model from Meta Superintelligence Labs, as the Facebook owner expands generative AI tools across its apps.The company said Muse Image, which is integrated into its Meta AI chatbot, can interpret complex prompts, u
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Judge approves $46.75 million payout for 23andMe data breach victims
July 7 : A U.S. bankruptcy judge on Tuesday approved a $46.75 million settlement for victims of a 2023 data breach at the genetic testing company 23andMe, which exposed genetic and other personal information of an estimated 6.9 million customers.U.S. Bankruptcy Judge Brian Walsh in St. Louis said the settleme
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US power use to beat record highs in 2026 and 2027 as AI use surges, EIA says
NEW YORK, July 7 : U.S. power consumption, which hit its second straight annual record high in 2025, will rise further in 2026 and 2027, driven by AI-hungry data centers and electrification, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday.The EIA projected p
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AI startup CEO pleaded guilty in US to trading on insider tips from lawyers
BOSTON, July 7 : The founder and chief executive of an AI startup secretly pleaded guilty last year to participating in a vast scheme in which attorneys at major law firms tipped traders about mergers their employers were advising on.Court records unsealed on Monday show that Arya Bolurfrushan, a former Goldm
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Dollar higher after data as yen holds near 40-year low
NEW YORK, July 7 : The dollar advanced on Tuesday, following two straight sessions of slight declines, while the yen held near a four-decade low, as investors continued to watch for signs of possible intervention by Japanese authorities to support the currency.The greenback showed little reaction to reports t
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Stellantis to sell small Fiat Topolino EV for $13,995 in U.S.
While the Topolino resembles a small car such as the Fiat 500, the EV is actually a quadricycle that functions more like a golf cart.
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ECB tells banks to bolster AI cyber defences as peers take lighter approach
FRANKFURT, July 7 : The European Central Bank on Tuesday gave euro zone banks four months to draw up plans to counter AI-enabled cyber threats, taking a more prescriptive approach than other major central banks to risks posed by advanced AI models.The U.S. Federal Reserves and Bank of England struck softer to
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Stocks slip; Samsung’s record profit revives jitters on AI outlook
LONDON, July 7 : Global stocks fell on Tuesday as technology shares slid despite blockbuster results from Samsung Electronics, with investors remaining concerned about the sustainability of the AI-driven rally, while oil prices rose on renewed Middle East tensions.Samsung Electronics forecast a 19-fold jump i
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