Tag: Business
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Yen and dollar drift as markets await Iran deal news, look towards payrolls
LONDON, Aug 6 : Currency markets drifted on Thursday with the Japanese yen retracing some intervention-led gains and the dollar pinned near a six-week low, as investors awaited more details on a proposed U.S.-Iran deal and looked ahead to Friday’s U.S. jobs report.The yen was a touch softer at 157.88 per doll
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OpenAI seeks dismissal of Apple’s trade secrets lawsuit
Aug 5 : OpenAI asked a U.S. judge on Wednesday to dismiss Apple’s lawsuit that accused the ChatGPT maker and two former Apple employees of trade-secret theft to help it expand into consumer hardware, saying it was building something “entirely new.””OpenAI has no use, need or desire for Apple’s trade secrets.
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SoftBank books lower Q1 profit, gain on Intel stake
TOKYO, Aug 6 : SoftBank Group posted a smaller-than-expected 18 per cent drop in first-quarter profit on Thursday, buoyed by a gain on its stake in chipmaker Intel, even as it recorded no valuation gain from its holdings in ChatGPT developer OpenAI.The investment and technology conglomerate booked record net
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Nintendo first-quarter net profit jumps more than 50%
TOKYO: Nintendo said on Thursday (Aug 6) net profit jumped more than 50 per cent year-on-year in the first quarter, helped by increased video game sales and a windfall connected to United States tariff refunds.The success of “The Super Mario Galaxy Movie” was also a bright point for the Japanese gaming giant,
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Japan’s Mitsubishi Electric to start industrial build-up for GCAP fighter
TOKYO, Aug 6 : Mitsubishi Electric plans to build three facilities to produce electronic systems for the advanced fighter being developed by Japan, Britain and Italy, and expects the project to contribute to profits by the end of the decade, its chief financial officer said.The Japanese company is a key part
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OpenAI asks US judge to dismiss Apple’s trade secrets case
Aug 5 : OpenAI asked a U.S. judge on Wednesday to dismiss Apple’s lawsuit accusing it and two former Apple employees of misappropriating the iPhone maker’s trade secrets to benefit the ChatGPT maker’s foray into consumer hardware.”OpenAI has no use, need or desire for Apple’s trade secrets. OpenAI is buildin
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Spain’s ‘Galactic Shepherd’ to watch total eclipse from DIY observatory
SAN AGUSTIN DEL POZO, Spain, Aug 6 : In a tiny Spanish farming village, retired shepherd Joaquin Tapioles is preparing to watch next week’s first-in-a-century total solar eclipse from the observatory he built after being inspired by the mysteries of the skies as a boy.The first total eclipse visible from the
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SoftBank reports first-quarter income slide, gain on Intel stake
TOKYO, Aug 6 : Japanese technology investor SoftBank Group booked an 18 per cent fall in first-quarter net income to 347.3 billion yen ($2.20 billion), the company said on Thursday. That beat a forecast of 148.4 billion yen by four analysts surveyed by LSEG. The fall follows record annual earnings fo
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Nintendo Q1 operating profit jumps 151%, beating analyst estimates
TOKYO, Aug 6 : Nintendo said on Thursday operating profit rose 150.5 per cent to 142.6 billion yen ($903.8 million) in the April-June quarter. That compared with an average estimate of 70.3 billion yen from 15 analysts polled by LSEG. ($1 = 157.7800 yen)
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Asian stocks mostly down with tech firms back under pressure
HONG KONG: Most Asian markets sank on Thursday (Aug 6) with tech firms back under pressure after a four-day rebound amid lingering AI worries, while oil rose even as Iran said it was finalising a deal with Oman over
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