Tag: Business
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Porsche profit rebounds as luxury carmaker reduces exposure to China
Luxury German carmaker Porsche said it’s rapidly reducing its exposure to the Chinese autos market after reporting a profit recovery in the first nine months.
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UBS says it does not permit the use of external AI models for client transactions
ZURICH, Oct 27 : UBS will not allow the use of external AI models to execute actions on behalf of clients, CEO Sergio Ermotti said on Tuesday.Concerns that sophisticated AI agents could harm the financial system have risen within the banking industry. Major US banks have been blocking third-party AI agents’ a
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Nidec to file damage suit against former executives
TOKYO, Oct 27 : Japanese electric motor maker Nidec said on Tuesday it has decided to file a lawsuit for damages against several former executives including company founder Shigenobu Nagamori. A committee report looking into Nidec’s accounting irregularities said this month Nagamori fostered a corporate cultu
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Oil rises slightly as diplomacy hopes counter renewed Houthi attacks
NEW DELHI, Oct 27 : Oil prices turned positive on Tuesday after a fall of about 1 per cent, earlier in the session, as the chance of talks in Tehran eased fears of a broader Middle East supply shock, while renewed Houthi attacks on Saudi Arabia highlighted persistent risks.Brent crude futures was up 40 cents,
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Nvidia, Meta deepen AI ties with $3 billion investment deal
Oct 27 : Nvidia and Meta said on Tuesday they would deepen their partnership on the Muse AI assistant and related AI models, with Nvidia investing $3 billion in the Facebook parent’s equity offering. Here are some details:• Meta’s Muse models and agents, which run on Nvidia infrastructure, will
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Thailand’s September car production drops 6.08% on year
BANGKOK, Oct 27 : Car production in Thailand dropped 6.08 per cent in September from a year earlier to 120,319 units, the Federation of Thai Industries said on Tuesday.• The reading followed a rise of 10.93 per cent in August• Thailand is Southeast Asia’s biggest auto production centre It is an e
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Toyota to recall more than 228,000 US vehicles over unsecured seat back risk, NHTSA says
Oct 27 : Toyota is recalling 228,367 vehicles in the US over seat backs that may fail to stay secured in a crash, the US National Highway Traffic Safety Administration said on Tuesday. Here are some more details:• The recall involves certain 2022-2026 Toyota Sienna Hybrid vehicles, the auto safety
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Japan’s trend inflation index hits 3-year high, cements case for BOJ rate hike
TOKYO, Oct 27 : Japan’s core consumer price index, which strips out one-off factors, rose in September at the fastest annual pace in three years, data showed on Tuesday, a sign of broadening price pressures that cement the case for further interest rate hikes.The data comes ahead of the Bank of Japan’s two-da
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Nvidia, Meta partner on Muse agent as Nvidia invests $3 billion
Oct 27 : Nvidia and Meta on Tuesday said they will partner to expand their work on Meta’s Muse assistant and the Muse family of models.Nvidia said it will invest $3 billion in Meta’s equity offering.
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Oil slips 1% as Iran diplomacy eases supply fears
NEW DELHI, Oct 27 : Oil prices edged lower on Tuesday, falling about 1 per cent as prospects for a resolution of the US-Israeli war on Iran kept supply fears at bay with talks in Tehran, despite renewed Houthi attacks on Saudi Arabia.Brent crude futures were down $1, or 0.86 per cent, at $114.81 a…
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