Tag: Business
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Nissan CEO’s US mission: shed rental-car image
July 1 : Nissan CEO Ivan Espinosa was pleased when the automaker reported Wednesday that its second-quarter U.S. vehicle sales ticked higher. But he knows there’s still a long way to go. Espinosa, who took the top job at the Japanese automaker in April 2025, has made the U.S. a core piece of his revival…
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Bridgewater’s flagship macro fund gains 8.1% in first half amid market volatility, sources say
NEW YORK, July 1 : Bridgewater Associates’ flagship Pure Alpha macro fund posted a gain of 8.1 per cent after braving a volatile market backdrop during the first half of the year, people familiar with the matter said on Wednesday. Top hedge funds have grappled with turbulence in financial markets this year o
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Chip stocks that notched record rallies in second quarter start Q3 with a dud
Memory maker Micron, which jumped over 240% in the second quarter, dropped 11% on Wednesday, wiping out nearly $200 billion of market capitalization.
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Alibaba, AUS Merchant Services to pay $600 million to resolve alleged illegal pharmaceuticals sales, DOJ says
WASHINGTON, July 1 : The U.S. Justice Department said on Wednesday that Alibaba and AUS Merchant Services have agreed to pay $600 million to resolve allegations that they failed to prevent illegal sales of pharmaceuticals.Alibaba did not immediately respond to a request for comment.
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Musk denies WSJ report that SpaceX showed AI handset prototype before IPO
July 1 : Elon Musk on Wednesday denied a Wall Street Journal report that SpaceX showed investors and other stakeholders a prototype of an AI-focused device ahead of its blockbuster IPO.”Utterly false,” Musk said in a post on X, without elaborating.The Journal had reported, citing people familiar with t
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Valar nuclear startup partners with Nvidia on data center aiming to conserve water
July 1 : Valar Atomics, a nuclear power startup, said on Wednesday it is partnering with Nvidia to develop a small data center in Utah that the companies claim will show how computing facilities needed for AI can conserve water.California-based Valar announced the partnership in Utah at the site of its small
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US FTC says AI bias safeguards may run afoul of consumer law
WASHINGTON, July 1 : The Federal Trade Commission on Wednesday said AI companies whose chatbots produce responses that reflect “ideological objectives” may violate federal law, as part of a proposed policy on how the FTC will apply its authority to the sector.The FTC said AI companies that train their chatbot
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US LNG exports to Europe decline as Asia prices surge
HOUSTON, July 1 : For the first time in nearly two years, less than half of U.S. LNG exports last month went to Europe as stronger prices in Asia and record imports by Egypt diverted cargoes, according to preliminary ship-tracking data from LSEG.The shift marks the first time since July 2024 that Europe has n
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Russia warns Apple of $52 million fine over alleged bias against local apps
MOSCOW, July 1 : Russia’s anti-monopoly watchdog has issued a warning to iPhone maker Apple, urging the company to address what it described as discriminatory practices against Russian search engines and software.The Federal Antimonopoly Service said Apple must ensure Russian software, including search engine
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Fed’s Warsh plans to harness better economic data within a year
SINTRA, Portugal, July 1 : Federal Reserve Chairman Kevin Warsh set an ambitious timeline on Wednesday for the U.S. central bank to “discover” and start relying on real-time economic data that’s superior to what he described as problematic government reports.”My aspiration is that nine to 12 months from now w
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