Tag: Business
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Meta India head named in police case over Facebook videos targeting Modi
NEW DELHI, July 31 : Police in the southern Indian city of Hyderabad have registered a case against the head of Meta India, Arun Srinivas, over multiple videos posted on the company’s Facebook platform that depicted Prime Minister Narendra Modi in an “abusive manner,” a senior police officer said on Friday.Th
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Study shows prehistoric people targeted female mammoths
July 31 : Woolly mammoths were a favorite hunting target for Ice Age people in Eurasia and North America for many reasons. A single animal would provide a large amount of meat and fat. Its hide could be used for clothing. Its bones and tusks could be shaped into tools, weapons and art. And the…
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Amazon jumps as AWS growth soothes fears over rising AI spending
July 31 : Amazon shares jumped more than 12 per cent before the bell on Friday after the e-commerce and cloud giant posted its strongest cloud growth in over four years, bolstering investor confidence that its multibillion-dollar AI bets are driving a fresh wave of demand.The rally put Amazon on track to add
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Oil falls on slightly improved flows through Gulf; set for monthly gain
July 31 : Oil prices fell more than 1 per cent on Friday as more supplies flowed through crucial maritime chokepoints, despite a lack of major breakthroughs in talks between the United States and Iran.Oil prices, however, remained on track for a monthly rise.Brent futures were down $1.28, or 1.44 per c
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Tech rebound fuels record-breaking rally in South Korean stocks
HONG KONG: South Korean stocks soared a record 17.9 per cent on Friday (Jul 31) as Asian tech firms performed a blistering recovery from an extended sell-off, with beaten-down chip giant SK Hynix rocketing almost a third as the AI boom roared back.After four weeks of blood-letting fuelled by worries over the
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German court rules AI music firm Suno broke copyright rules
MUNICH, July 31 : A German court ruled on Friday that AI music firm Suno has violated copyrights and has to provide information on illicit revenue, part of a wider legal battle by artists and publishers against technology firms.The Munich-based regional court said Suno did not have the right to process the mu
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Seven & i agrees strategic partnership, $620 million investment with SoftBank, SMFG units
TOKYO, July 31 : Japan’s Seven & i Holdings has formed a strategic partnership with SoftBank Corp, PayPay and Sumitomo Mitsui Card, which will each invest 100 billion yen ($620 million) into the 7-Eleven operator, a filing showed on Friday. Each of the three will acquire a 2.27 per cent stake in Seven & i,…
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Apple slides as supply snags cloud outlook, putting iPhone demand in focus
July 31 : Apple shares dropped 7.3 per cent before the bell on Friday as the tech giant warned that supply constraints would hurt growth, prompting investors to look beyond near-term shortages to gauge the hit from an expected iPhone price hike.The decline puts Apple on track to shed roughly $361.6 billion in
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Japan bank SMFG’s Q1 profit jumps 33% on robust loan demand
TOKYO, July 31 : Sumitomo Mitsui Financial Group recorded a 33 per cent rise in first-quarter profit, marking the latest Japanese financial institution to weather huge swings in global markets and trade and stay on track for record profits.Strong loan demand from SMFG’s clients, which are primarily made of up
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BOJ Governor Ueda’s comments at news conference
July 31 : The Bank of Japan kept interest rates steady on Friday but signaled its resolve to continue pushing up borrowing costs, in the wake of the government’s yen-buying intervention overnight that failed to give the sagging currency lasting support.Board member Hajime Takata was the sole dissenter to the
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