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EU Investigates AI Deals Between Microsoft and OpenAI, Google and Samsung

BRUSSELS – The European Union is considering an antitrust investigation into Microsoft’s partnership with OpenAI and Google’s artificial intelligence agreement with Samsung, citing concerns over exclusivity clauses. This scrutiny reflects global regulatory apprehension about Big Tech extending its market dominance into new technologies. EU competition chief Margrethe Vestager announced that additional third-party opinions would be…

SK Hynix to Invest $75 Billion by 2028 in AI and Semiconductor Development

Sumit Vishe4 days ago4 days ago03 mins

By Sumit Vishe SEOUL – South Korea’s SK Hynix, the world’s second-largest memory chip maker, will invest 103 trillion won ($74.6 billion) by 2028 to enhance its semiconductor business with a focus on artificial intelligence (AI), according to an announcement from its parent company, SK Group. SK Group also revealed plans to secure 80 trillion…

Amazon Recruits Cofounders from AI Startup Adept to Strengthen AI Initiatives

Sumit Vishe4 days ago4 days ago04 mins

Amazon.com (AMZN.O) has successfully recruited cofounders and key team members from the artificial intelligence startup Adept, a strategic move to bolster its AI capabilities. This recruitment drive is similar to a previous one by Microsoft (MSFT.O), underscoring Amazon’s efforts to catch up in the AI race. Adept announced in a blog post on Friday that…

China’s June Factory Activity Contracts Again as Services Slow Down

Sumit Vishe4 days ago4 days ago05 mins

By Sumit Vishe BEIJING – China’s manufacturing sector experienced a contraction for the second consecutive month in June, while the services sector saw its slowest growth in five months, according to an official survey released on Sunday. This has fueled ongoing calls for further economic stimulus as the country grapples with its recovery. The National…

Texas Judge Halts Biden Administration’s Expanded Overtime Pay Rule

Sumit Vishe4 days ago4 days ago05 mins

A federal judge in Texas has issued a temporary block on a Biden administration rule that would have extended mandatory overtime pay to approximately 4 million salaried workers across the United States. U.S. District Judge Sean Jordan, based in Sherman, Texas, halted the implementation of the rule just days before it was set to take…

France Begins Voting in Crucial Parliamentary Election with Far-Right Surge

Sumit Vishe5 days ago5 days ago06 mins

By Sumit Vishe French voters commenced voting on Sunday in the first round of a sudden parliamentary election that could mark a significant shift in the country’s political landscape, potentially ushering in its first far-right government since World War Two. This election carries profound implications not only for France but also for its role within…

U.S. Prosecutors Meet with Boeing, Families of Crash Victims Amid Looming Deadline

Sumit Vishe5 days ago5 days ago05 mins

By Sumit Vishe U.S. prosecutors are engaged in crucial discussions with Boeing and the families of victims from fatal crashes as a pivotal July 7 deadline approaches for the Justice Department to decide on potential criminal charges against the aircraft manufacturer. This information comes from sources familiar with the matter and correspondence reviewed by Reuters….

Stocks Decline as Investors React to Stable U.S. Inflation; Dollar Also Dips

Sumit Vishe5 days ago5 days ago04 mins

Global stock markets faced downward pressure on Friday, erasing early gains, while U.S. Treasury yields climbed and the dollar weakened following news of unchanged U.S. monthly inflation in May. The flat reading in the U.S. Personal Consumption Expenditures (PCE) price index for May, as reported by data, marked no change from the 0.3% increase observed…

U.S. Monthly Inflation Stable in May, Fed Rate Cut Prospects Rise

Sumit Vishe5 days ago5 days ago06 mins

In May, U.S. monthly inflation held steady as a slight uptick in service costs countered the largest drop in goods prices in six months, a Commerce Department report revealed on Friday. This development nudged the Federal Reserve closer to contemplating interest rate cuts later in the year. Consumer spending saw marginal growth during the same…

Cyberattack Disrupts Immigration Checks at Indonesian Airports, Demands $8 Million Ransom

Shailja Ojha1 week ago1 week ago03 mins

Indonesia’s national data center faced a significant cyberattack, disrupting immigration checks at airports and resulting in a demand for an $8 million ransom, the country’s Communications Minister revealed on Monday. The breach caused considerable disruptions to government services, particularly at airports, where long lines formed at immigration desks. Automated passport machines have since been restored,…

Music Labels Sue AI Companies Suno and Udio for Copyright Infringement

Samsung Q2 Profit Expected to Surge 13-Fold Amid AI Boom

Noventiq and Corner Growth Acquisition Terminate SPAC Deal for Nasdaq Listing

Google to Unveil AI Features and New Pixel Devices at August Event

Northern Data Considers US IPO for AI Unit with Potential $16 Billion Valuation

AI Coding Startup Magic Aims for $1.5 Billion Valuation in New Funding Round

EU Investigates AI Deals Between Microsoft and OpenAI, Google and Samsung

SK Hynix to Invest $75 Billion by 2028 in AI and Semiconductor Development

Amazon Recruits Cofounders from AI Startup Adept to Strengthen AI Initiatives

China’s June Factory Activity Contracts Again as Services Slow Down

Texas Judge Halts Biden Administration’s Expanded Overtime Pay Rule

France Begins Voting in Crucial Parliamentary Election with Far-Right Surge

U.S. Prosecutors Meet with Boeing, Families of Crash Victims Amid Looming Deadline

Stocks Decline as Investors React to Stable U.S. Inflation; Dollar Also Dips

U.S. Monthly Inflation Stable in May, Fed Rate Cut Prospects Rise

Cyberattack Disrupts Immigration Checks at Indonesian Airports, Demands $8 Million Ransom

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