Tag: Business
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Dollar heads for weekly drop as jobs data dims Fed hike bets
HONG KONG, July 3 : The U.S. dollar was on track for the biggest weekly drop in nearly three months on Friday, after a tepid June jobs report pushed back markets expectations for Fed rate hikes, providing some relief for the embattled yen. Softness in the greenback continued in early Asian trade, with the eur
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Japan’s services activity returns to growth in June, PMI shows
TOKYO, July 3 : Japan’s services sector returned to expansion in June after stalling the previous month, though business confidence remained subdued amid concerns over Middle East tensions and intensifying cost pressures, a private survey showed on Friday. • The S&P Global final Japan Services Purchasing M
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Exclusive-Meta’s Zuckerberg says AI agent tech progressing slower than expected
NEW YORK, July 2 : Meta Chief Executive Mark Zuckerberg acknowledged shortcomings in the company’s sweeping restructuring at an internal town hall on Thursday, saying the systems known as AI agents had not progressed as quickly as he had expected, according to a recording heard by Reuters. Zuckerberg added t
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Exclusive-Zuckerberg says AI agent tech is developing more slowly than expected
NEW YORK, July 2 : Meta Chief Executive Mark Zuckerberg told an internal town hall on Thursday that AI agent development over the last four months had not “accelerated in the way we expected,” according to a recording heard by Reuters.Zuckerberg added that a company reorganization that included major job cuts
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Crusoe in talks to raise $3 billion funding, Bloomberg News reports
July 2 : AI data center startup Crusoe is in talks to raise about $3 billion in a funding round that may triple its valuation, Bloomberg News reported on Thursday, citing people familiar with the situation.The startup has contracts to supply AI computing power for the likes of Meta and Oracle, the report said
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Kioxia readies next-gen memory mass production as AI boom fuels dramatic comeback
TOKYO, July 3 : Kioxia will on Friday hold a ceremony at its fab in northern Japan as the chipmaker, whose shares have rocketed due to the AI investment boom, prepares to mass manufacture next-generation memory.The growth of AI has fueled a remarkable turnaround for Kioxia, which was previously seen as an exa
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Blackstone’s QTS terminates Digital Gateway data center project in Virginia
July 2 : Blackstone’s QTS said on Thursday it had terminated its planned Digital Gateway data center project in Virginia and withdrawn the associated filings after years of planning and regulatory review.The data center operator has faced years of local opposition and litigation over the project, despite it b
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US Department of Homeland Security says it is probing a cyber breach at information-sharing network
WASHINGTON, July 2 : The Department of Homeland Security said on Thursday it was investigating a breach in an unnamed information-sharing network.In a statement, DHS said there had been a “recent cyber incident” involving an “unclassified legacy information sharing environment” but did not provide further de
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ElevenLabs explores employee stock sale at $22 billion valuation, Bloomberg News reports
July 2 : AI voice generation firm ElevenLabs is exploring a secondary share sale that would allow employees to sell stock, Bloomberg News reported on Thursday, citing people familiar with the matter.The proposed transaction could value the company at about $22 billion and is expected to occur by September, th
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Exclusive-Zuckerberg says AI agent development going slower than expected
NEW YORK, July 2 : Meta Chief Executive Mark Zuckerberg told an internal town hall on Thursday that AI agent development over the last four months has not “accelerated in the way we expected,” according to a recording heard by Reuters.Zuckerberg added that a company reorganization that included major job cuts
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