Tag: Business
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Analysis:High-profile Instagram AI chatbot breach spotlights security risks of automation
June 3 : An Instagram hack that saw attackers talk Meta’s AI support chatbot into handing over access to high-profile accounts has exposed a critical flaw at the heart of the company’s push to automate sensitive user functions.The breach allowed hackers to seize accounts including the dormant Obama White Hous
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Macy’s posts strongest Q1 growth in four years, raises guidance despite consumer worries
Macy’s has been in the midst of a turnaround under CEO Tony Spring, who has worked to close underperforming stores and reinvest in ones worth keeping open.
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Yen falls to 160 level, prompting warnings from Japanese officials
LONDON, June 3 : Renewed strength in the dollar pushed the Japanese yen back to the key 160 level on Wednesday, prompting verbal warnings from authorities and keeping traders on alert for intervention, as fresh Gulf hostilities bolstered demand for the greenback.The U.S. said Iran launched ballistic missiles
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Private infra, real estate capital to play larger financing role in AI data center boom, Goldman says
June 3 : Private infrastructure and real estate capital are expected to play a larger role in financing the AI-driven data-center boom, as companies move beyond traditional forms of funding, Goldman Sachs said in a note on Tuesday.• Goldman increased its combined capex forecast for the four largest hypersca
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France fines Shein $26 million over consumer rule breaches; Shein to challenge
PARIS, June 3 : France has fined fast-fashion firm Shein about €22 million ($26 million) over issues with returns, product information and order confirmations, a penalty the company described as disproportionate and vowed to challenge.The Directorate General for Competition, Consumer Affairs, and Fraud Cont
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When IPOs go wrong: SpaceX, AI firms face a delicate process
SAN FRANCISCO, June 3 : Beware the ghosts of IPOs past.SpaceX and Anthropic are preparing for what may be the biggest public-market launches in U.S. history, with OpenAI rumored to be close behind. That will put the companies’ chiefs in the sights of the buttoned-down world of Wall Street, even as the
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Analysis:US tech stocks’ market dominance reaches new heights and presents new risks
NEW YORK, June 3 : The charge higher in U.S. technology stocks has made broader indexes as reliant as ever on the group – and more vulnerable should those market leaders trip up.With stunning gains over the past two months, the S&P 500 technology sector now accounts for more than 39 per cent of the…
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Analysis:Software stocks bounce back – now comes the hard part
June 3 : Software stocks have rebounded from a punishing selloff as investors are betting that AI may boost the sector rather than leaving it for dead.The iShares Expanded Tech-Software Sector ETF has surged nearly 42 per cent from its April low, turning fears that AI would rip the heart out of the industry i
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India’s IT stocks head for worst day in 4 months on AI disruption worries; TCS plunges 9%
June 3 : India’s information technology stocks were headed for their worst day in four months on Wednesday as renewed concerns that artificial intelligence could disrupt traditional software services rattled investors.The IT index was down 5.8 per cent at 29,310.25 points. If losses hold, this would be its wo
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EU court backs Meta fight against gatekeeper label for Marketplace, but not for Messenger
BRUSSELS, June 3 : Europe’s second-highest court on Wednesday backed Meta Platforms’ fight against the labelling of its Marketplace platform as a gatekeeper under EU rules but rejected its challenge against the same designation for its messaging app Messenger.”The decision does not satisfy the requirements in
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