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Apple’s flagging AI hopes get revival from DeepSeek’s emergence
Concerns over Apple Inc.’s first-quarter results have met with 11th-hour optimism that it could eventually benefit from the same force that recently wreaked havoc on the tech sector. The emergence of Chinese artificial intelligence startup DeepSeek is seen as a positive for Apple as cheaper AI models could contribute to a long-anticipated — and so far unrealized — iPhone upgrade cycle and re-acceleration in growth. The outlook for AI and iPhones will be in focus with results due after market clo
Jan. 30, 2025 -
Tesla books $600 million boost from Bitcoin after accounting change
Tesla Inc.’s holdings of Bitcoin gave its latest quarterly results a boost, courtesy of new accounting rules for digital assets. Its net income got a $600 million mark-to-market benefit from the digital tokens due to the adoption of the accounting approach, Chief Financial Officer Vaibhav Taneja said on Tesla’s earnings call on Wednesday. The electric vehicle maker’s fourth-quarter adjusted earnings were 73 cents a share, missing analysts’ average estimates of 75 cents. But investors took heart
Jan. 30, 2025 -
Don't let AI 'rip off' artists, Beatles star McCartney warns UK government
Beatles musician Paul McCartney has warned that artificial intelligence could be used to "rip off" artists, urging the British government to make sure upcoming copyright reforms protect its creative industries. Globally the music and film industries are grappling with the legal and ethical implications of AI models that can produce their own output after being trained on popular works, without necessarily paying the creators of the original content. Britain in December proposed a way for artists
Jan. 26, 2025 -
Bitcoin tops $106,000, hopes grow for strategic reserve
Bitcoin hit a record high above $106,000 on Monday after President-elect Donald Trump suggested he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls. Bitcoin, the world's biggest and best known cryptocurrency, hit a high of $106,533 and last traded up 2.6 percent at $103,917 at 12:15 GMT (9:15 p.m. in Korea). Smaller crypto ether was up 0.4 percent at $3,918. "We're in blue sky territory here," said Ton
Dec. 16, 2024 -
SoftBank CEO to announce $100b investment in US during visit to Trump
SoftBank Group CEO Masayoshi Son will announce a $100 billion investment in the United States over the next four years during a Monday visit to US President-elect Donald Trump's residence, Mar-a-Lago, CNBC reported. Son will also promise in a joint announcement with Trump to create 100,000 jobs focused on artificial intelligence and related infrastructure, with the money to be deployed before the end of Trump's term, CNBC said, citing sources. The funding could come from various source
Dec. 16, 2024 -
Bitcoin surges to new record as Trump's election turbocharges cryptocurrencies
Bitcoin soared to a record high above $82,000 on Monday on expectations that cryptocurrencies will boom in a favorable regulatory environment following the election of Donald Trump as U.S. president and of pro-crypto candidates to Congress. The world's biggest and best-known cryptocurrency , has now more than doubled from the year's low of $38,505 and was last at $81,991, having earlier touched a record high of $82,413. Trump embraced digital assets during his campaign, promising to
Nov. 11, 2024 -
Bitcoin hits $80,000 for the first time
Bitcoin soared to a new record high on Sunday, as the cryptocurrency continues to rise following Donald Trump's presidential election win. The digital currency passed $80,000 for the first time shortly after 12:00 pm (1200 GMT). It reached $75,000 on Wednesday, topping its previous all-time peak of $73,797.98 achieved in March. (AFP)
Nov. 10, 2024 -
OpenAI's ChatGPT faces massive outage with thousands of users impacted
Microsoft-backed OpenAI said on Friday night it is facing an issue that has resulted in its popular chatbot ChatGPT being unavailable. The company said in a statement on its website that it was investigating the issue and working to restore functionality as soon as possible. Over 19,403 users had been impacted by the outage as of 7:13 p.m. ET, according to outage tracking website Downdetector.com. OpenAI did not immediately respond to a request for comment. (Reuters)
Nov. 9, 2024 -
[Graphic News] MS tops Forbes’ Best Employers List, Samsung ranks 3rd
Microsoft topped Forbes’ World’s Best Employers list for 2024, surpassing Samsung Electronics, which had previously held the top spot for four consecutive years since 2020. Alphabet, Google’s parent company, secured second place, with Samsung ranking third. The list, based on a survey conducted by Forbes in collaboration with German polling firm Statista, polled over 300,000 employees from more than 50 countries, focusing on multinational companies with over 1,000 employees o
Nov. 4, 2024 -
Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1 percent from July to August, the Commerce Department said, down from the previous month’s 0.2 percent increase. Compared with a year earlier, inflation fell to 2.2 percent, down from 2.5 percent the previous month and barely above the Fed's 2 percent inflation
Sept. 27, 2024 -
China’s biggest stock buying frenzy in years overwhelms exchange
Chinese equities capped their biggest weekly rally since 2008 with a burst of trading that overwhelmed the Shanghai stock exchange, underscoring a dramatic shift in investor sentiment after Xi Jinping’s government ramped up economic stimulus. In an echo of the rally that followed China’s massive stimulus during the global financial crisis, the CSI 300 Index of large-cap shares soared 4.5 percent on Friday — bringing this week’s gain to 16 percent. Trading activity was
Sept. 27, 2024 -
WTO to examine China complaint over US electric vehicle subsidies
The World Trade Organization agreed Monday to establish an expert panel to examine US subsidies for electric vehicles after Beijing accused Washington of unfair competition. The United States slammed China's complaint, insisting the country was seeking "to distract from its own non-market policies and practices that undermine a fair, competitive, and mutually beneficial trading system." The world's second-largest economy initially brought the case to the WTO in March, chargin
Sept. 23, 2024 -
US to propose ban on Chinese car software
WASHINGTON (Reuters) -- The US Commerce Department was expected on Monday to propose prohibiting Chinese software and hardware in connected and autonomous vehicles on American roads due to national security concerns, two sources told Reuters. The Biden administration has raised serious concerns about the collection of data by Chinese companies on US drivers and infrastructure as well as the potential foreign manipulation of vehicles connected to the internet and navigation systems. The proposed
Sept. 22, 2024 -
Global stock markets diverge after global rally
Global stock markets diverged and the dollar was mixed against main rivals Friday following an equities rally triggered by a jumbo US interest rate cut this week. In early afternoon deals, European stocks pared back hefty gains from the previous session, won after the Federal Reserve opted for a bumper 50-basis-point rate reduction and pledged further cuts as inflation cools. There had been fears the move could signal officials were worried about the economy and were behind the curve in easing p
Sept. 20, 2024 -
Boeing, union to resume talks as strike quiets Seattle plants
Negotiators from Boeing and the machinists union are scheduled to resume talks Tuesday after some 33,000 workers went on strike late last week. Members of the International Association of Machinists and Aerospace Workers District 751 have been picketing 24 hours a day following the walkout early Friday morning, shuttering Seattle-area factories that assemble the 737 MAX and 777. "Now is the moment to rise -- show Boeing that our voices aren't just loud; they are unstoppable," the
Sept. 17, 2024