Tag: Business
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Stocks rise despite Iran tensions, oil up, yen eases
Aug 4 : European stocks climbed alongside U.S. futures on Tuesday, although a rebound in oil prices underscored market scepticism that the U.S.-Iran war would be resolved quickly through diplomacy.Meanwhile the yen eased slightly, but held on to most of its intervention-driven gains after last week’s joint ac
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Telegram says Apple suspension followed content norms violation by one user
Aug 3 : Telegram was briefly removed from Apple’s App Store globally after the iPhone maker reported one user had shared “child sexual abuse material,” the messaging app said on Tuesday.The incident follows a similar suspension in 2018, when Apple temporarily pulled Telegram for material the app’s founder Pav
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South Korea vows to soothe stock market volatility as ETF boom slows
SEOUL, Aug 4 : South Korea will take steps to curb stockmarket volatility, the finance minister said on Tuesday, amid signs of a slowdown in retail investment in single-stock leveraged exchange-traded funds (ETFs).A cap that could limit such ETFs to 20 per cent of an individual’s total investment assets was a
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Apple seeks preliminary injunction against OpenAI in trade secrets case
Aug 3 : Apple on Monday asked a U.S. judge for a preliminary injunction barring two former employees and OpenAI from accessing, acquiring, using or disclosing alleged confidential information as it moves ahead with its trade secrets case.Apple last month sued OpenAI and the two former employees, both now work
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Japan, US likely to intervene again if yen resumes slide, ex-BOJ official says
TOKYO, Aug 4 : Japan and the United States will “certainly” conduct joint intervention again if the yen shows signs of resuming its downtrend, said Atsushi Takeuchi, a former central bank official involved in Tokyo’s market forays more than a decade ago.The yen held gains above recent 40-year lows on Monday a
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SoftBank’s AI funding plans to face reckoning at earnings
TOKYO, Aug 4 : Technology investor SoftBank Group reports first-quarter earnings on Thursday, with analysts focused on how it will fund its ongoing investment in OpenAI and the impact of rising leverage on its balance sheet.SoftBank has become one of the biggest backers of OpenAI and its ability to keep fu
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Rabobank to spend €2 billion in AI and tech as net profit stagnates
Aug 4 : Dutch bank Rabobank said it would invest €2 billion ($2.30 billion) over the next three years in data, tech and AI, as banks around the world step up their AI investments.• “Artificial intelligence, data and other new technologies will further transform the way we work. To take full advantage of t
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BP profit more than doubles as Trump blasts Big Oil for ‘making too much money’
The result come after U.S. President Donald Trump lashed out at Big Oil for making “too much money” off higher fuel prices amid the Iran war.
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Exclusive-Shein seeks $30-$40 billion valuation for August Hong Kong IPO, sources say
LONDON/HONG KONG, Aug 4 : Shein is seeking a valuation of $30 billion to $40 billion in a Hong Kong initial public offering (IPO) that the online fast-fashion retailer plans to launch as early as mid-August, three people familiar with the matter said.Shein started pre-deal investor meetings last week, one per
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Morning Bid: Yen clings to gains but bond pressure builds
A look at the day ahead in European and global markets from Gregor Stuart HunterIf U.S. Treasury Secretary Scott Bessent was hoping for a reprieve from his to-do list, this might be as good as it gets.The Japanese currency weakened for the first time in five sessions on Tuesday, as the dust settled fro
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