Tag: Business
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EU targets Big Tech dependence with ‘made-in-Europe’ drive
BRUSSELS, June 3 : The European Commission proposed new laws on Wednesday to boost domestic cloud, AI and semiconductor industries, aiming to cut reliance on U.S. Big Tech in a move that could ratchet up transatlantic tensions.The Cloud and AI Development Act and Chips Act 2.0 form part of Europe’s push for t
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EU plans energy standards for data centres amid concerns over soaring power use
BRUSSELS, June 3 : The European Union will develop minimum energy-efficiency standards for data centres, it said on Wednesday, as concerns grow over their rapidly rising power use.EU data centre capacity is expected to more than double in the coming years, reaching 28 gigawatts by 2030 from 12 GW last year. T
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Stocks making the biggest moves premarket: Blackstone, Marvell Technology, Palo Alto Networks & more
These are the stocks posting the largest moves premarket.
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Macy’s posts strongest Q1 growth in four years, raises guidance despite consumer worries
Macy’s has been in the midst of a turnaround under CEO Tony Spring, who has worked to close underperforming stores and reinvest in ones worth keeping open.
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Yen falls to 160 level, prompting warnings from Japanese officials
LONDON, June 3 : Renewed strength in the dollar pushed the Japanese yen back to the key 160 level on Wednesday, prompting verbal warnings from authorities and keeping traders on alert for intervention, as fresh Gulf hostilities bolstered demand for the greenback.The U.S. said Iran launched ballistic missiles
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Private infra, real estate capital to play larger financing role in AI data center boom, Goldman says
June 3 : Private infrastructure and real estate capital are expected to play a larger role in financing the AI-driven data-center boom, as companies move beyond traditional forms of funding, Goldman Sachs said in a note on Tuesday.• Goldman increased its combined capex forecast for the four largest hypersca
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France fines Shein $26 million over consumer rule breaches; Shein to challenge
PARIS, June 3 : France has fined fast-fashion firm Shein about €22 million ($26 million) over issues with returns, product information and order confirmations, a penalty the company described as disproportionate and vowed to challenge.The Directorate General for Competition, Consumer Affairs, and Fraud Cont
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When IPOs go wrong: SpaceX, AI firms face a delicate process
SAN FRANCISCO, June 3 : Beware the ghosts of IPOs past.SpaceX and Anthropic are preparing for what may be the biggest public-market launches in U.S. history, with OpenAI rumored to be close behind. That will put the companies’ chiefs in the sights of the buttoned-down world of Wall Street, even as the
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Analysis:US tech stocks’ market dominance reaches new heights and presents new risks
NEW YORK, June 3 : The charge higher in U.S. technology stocks has made broader indexes as reliant as ever on the group – and more vulnerable should those market leaders trip up.With stunning gains over the past two months, the S&P 500 technology sector now accounts for more than 39 per cent of the…
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