Tag: Business
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ECB picks 36 payment firms for digital euro pilot
FRANKFURT, July 14 : The European Central Bank has picked 36 payment service providers, including some of the euro zone’s biggest financial firms, to join the pilot programme for its digital euro project, it said on Tuesday. The ECB has been working on the digital euro for years, partly to wean the bloc off U
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New York becomes the first state to impose a data center moratorium
July 14 : New York became the first U.S. state on Tuesday to halt construction of large new data centers, imposing a one-year moratorium as concerns grow that the facilities driving the artificial-intelligence boom are raising power costs, straining water supplies and burdening local communities.The moratoriu
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Bank earnings live updates: JPMorgan, BofA, Goldman, Citi and Wells Fargo are set to report
The five banks releasing earnings Tuesday morning are expected to report strong revenue from trading equities and fixed income.
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A French underwear brand is taking on fast fashion — with an IPO
Le Slip Français will make its stock market debut in Paris on Tuesday, betting that consumers will pay for locally made clothing amid competition from Shein.
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Google probed by Swiss regulator over Android default search feature
ZURICH, July 14 : Switzerland’s Competition Commission (COMCO) has launched a preliminary investigation into Google’s removal of a feature that allows mobile phone users to opt out of using its search engine as default, the authority said on Tuesday.The “Choice Screen” feature allows users to choose their def
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Global investors turn most bullish since February, BofA survey shows
MILAN, July 14 : Global investor sentiment has climbed to its strongest level since February, with fund managers growing more optimistic on the economic outlook, artificial intelligence-linked spending and the prospect of a dovish Federal Reserve, Bank of America’s latest Global Fund Manager Survey showed.Cas
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Samsung explores potential US listing via ADRs, Bloomberg News reports
July 14 : Samsung Electronics Co. is in the early stages of exploring a potential offering of American Depositary Receipts (ADRs), Bloomberg News reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report. Samsung declined to comment.Samsung has held
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Subaru to recall over 541,000 US vehicles over incorrect label
July 14 : Subaru is recalling 541,237 vehicles in the U.S. because they were manufactured with an incorrect Gross Axle Weight Rating (GAWR) on the certification label, the U.S. National Highway Traffic Safety Administration said on Tuesday.
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India’s LTM expects AI revenue to outpace traditional services, CEO says
BENGALURU, July 14 : Indian software services firm LTM expects AI revenue to outpace its traditional services business, CEO Venu Lambu told Reuters, betting that enterprises will need IT companies to deploy powerful large language models from firms such as Anthropic and OpenAI.Investor worries that increasing
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SoftBank’s Son says AI will need $5 trillion per year by 2040, dismisses bubble talk
TOKYO, July 14 : The development of AI will require investment of $5 trillion each year by 2040, and any talk of a bubble forming around the technology is “absurd”, SoftBank Group CEO Masayoshi Son said on Tuesday.Over the past two years, the technology investment group has embarked on an expansive investment
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