Tag: Business
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Mastercard beats profit estimates as stable spending drives transaction volumes
July 30 : Mastercard posted a second-quarter profit that surpassed Wall Street expectations on Thursday, boosted by robust transaction volumes driven by steady consumer spending. Despite fears that geopolitical tensions and the resulting economic uncertainty would dent consumer appetite for spending, shopper
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Instant View: Yen soars, markets suspect Japan intervention
LONDON, July 30 : The yen surged against the dollar on Thursday, in a move so rapid and large in its scale that it alerted investors to the prospect of intervention by Japan to prop up its weak currency. Markets have been on alert for yen-buying by Japanese authorities, who have warned of action for…
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Scale AI taps former Google Cloud executive as CEO
July 30 – Scale AI said on Thursday it had named former Google Cloud executive Francis DeSouza as chief executive officer, effective August 10, as the AI company looks to expand its data and applications businesses.DeSouza will succeed Jason Droege, who has served as interim CEO since June last year. Droege w
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India’s Swiggy-owned Instamart key profitability metric improves, plans more stores
July 30 : India’s Swiggy said on Thursday its quarterly loss narrowed and a key profitability metric at its quick-delivery platform Instamart improved, while it plans to add more distribution hubs to drive growth.The food delivery service provider said its consolidated net loss narrowed to 7.91 billion rupees
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Exclusive-Amazon’s Zoox wins first US approval for paid robotaxis without human controls
SAN DIEGO, July 30 : Amazon’s Zoox unit won U.S. approval on Wednesday for limited commercial deployment of its novel steering-wheel-free robotaxis, a first for the autonomous ride industry, the U.S. auto safety agency said Thursday.The exemption from National Highway Traffic Safety Administration rules requi
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Goldman Sachs asset arm forms an AI investing platform, memo shows
NEW YORK, July 30 : Goldman Sachs Asset Management has launched an artificial intelligence investing platform, AlphaAI, betting that AI will become an important driver of investment returns across its public and private market businesses.Lou D’Ambrosio will lead AlphaAI, as chairman of Artificial Intelligence
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German minister urges faster AI self-sufficiency after OpenAI test breach
BERLIN, July 30 : Germany’s digital minister urged Europe on Thursday to speed up efforts to build its own AI industry after an OpenAI security test showed an AI agent breaching another system, raising concerns about control of increasingly autonomous technology.Karsten Wildberger told Reuters the incident hi
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Instant View: Yen jumps against the dollar, traders alert to Japan intervention
LONDON, July 30 : The yen rose sharply against the dollar on Thursday, in a move so rapid and large in its scale that it alerted traders to the prospect of intervention by Japan to prop up its weak currency. Markets have been on alert for yen-buying by Japanese authorities, who have warned of action…
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Ferrari CEO says he ‘would not change anything’ about polarizing Luce EV debut
Ferrari is pleased with the launch of the Luce all-electric vehicle despite significant criticism upon the car’s spring debut, according to CEO Benedetto Vigna.
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