Tag: Business
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Meta has strong chance of getting $25 billion New Mexico penalty slashed on appeal, experts say
Oct 22 : Meta Platforms has a strong basis for arguing that the $25 billion penalty New Mexico secured this week in a case stemming from allegations the firm mishandled user data should be reduced on appeal, legal experts said. The judgment was one of the largest state verdicts against a company in US histor
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Stocks fall, bonds gain as Meta dents tech optimism
LONDON, Oct 22 : Global stocks retreated on Thursday, as tech earnings’ optimism provided only fleeting support and was offset by nagging concern over the outlook for AI, while stalemate in the Gulf pushed up oil prices.MSCI’s All-World index was set for its largest daily fall in two weeks, down 0.4 per cent,
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Philippine central bank delivers larger-than-expected 50 bps hike to combat inflation
MANILA, Oct 22 : The Philippine central bank raised its key policy rate by a larger-than-expected 50 basis points (bps) to 5.5 per cent on Thursday, calling it a “decisive” move to combat price pressures while saying it was ready to tighten policy more to cool inflation.”The Monetary Board recognized the need
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Besi says ASML is not hybrid bonding rival as AI demand drives orders
Oct 22 : BE Semiconductor Industries on Thursday beat market expectations for third-quarter orders on strong AI data-centre demand and dismissed analyst reports that ASML could challenge it in hybrid bonding.Order intake, the industry’s most closely watched metric, was €342.6 million ($385.2 million), risin
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Philippine central bank raises key interest rate by 50 basis points
MANILA, Oct 22 : The Philippine central bank raised its key interest rate by 50 basis points to 5.50 per cent on Thursday, its fourth consecutive increase and larger than the market expected. All 27 economists in a Reuters poll expected the Bangko Sentral ng Pilipinas to hike its benchmark rate by a quart
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Japanese investors sell foreign bonds for fifth straight week, eye home market
Oct 22 : Japanese investors sold foreign bonds for a fifth straight week, their longest selling streak in four years, marking the latest sign of a potential shift in allocation strategy as rising yields at home spur buying in Japanese government bonds.The surge in the benchmark Japanese 10-year bond yield, up
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Cash-rich Reform UK launches fightback with new media platform
LONDON, Oct 22 : Flush with money from billionaire donors, Nigel Farage’s Reform UK has started hiring staff for a YouTube-based TV channel to bypass established broadcasters and capitalise on fundraising unrivalled by any major political party in Europe.After weeks of bruising headlines over donations and ra
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Japan’s biggest labour group seeks midpoint target of 6% for 2027 wage increase talks
TOKYO, Oct 22 : Japan’s largest labour union group Rengo unveiled a more ambitious wage bargaining policy for next year’s annual labour negotiations on Thursday, setting a target centred at a pay hike of 6 per cent while maintaining a minimum benchmark of 5 per cent or more. The move marks a shift from previ
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Samsung Electro-Mechanics gets $2.8 billion chip investment from Tesla, Nvidia, report says
SEOUL, Oct 22 : South Korea’s Samsung Electro-Mechanics will receive investment valued at 3.7 trillion won ($2.8 billion) from Tesla and Nvidia to build facilities making advanced chip substrates, known as FC-BGA for AI semiconductors, the Maeil Business Newspapera reported on Thursday.Tesla will invest 1.1 t
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Palantir says it cannot shut off NATO AI system as Europeans fear US tech dependence
BRUSSELS, Oct 22 : US software company Palantir sought to reassure Europeans that its military AI system used by NATO has no “kill switch”, after disruptions to Ukraine’s Starlink services heightened concerns about reliance on US tech firms.Ukraine reported last week that its use of military-grade satellite
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