US arrests two Chinese nationals in $73 million crypto scam
(Reuters) - U.S. authorities charged two Chinese nationals in a cryptocurrency scam that laundered at least $73 million from defrauded victims, the Justice Department said on Friday. U.S. officials arrested Yicheng Zhang in Los Angeles on Thursday,...
May 17, 2024
DXC Technology tumbles as investors fret over latest restructuring plan
(Reuters) - Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates. The latest attempt comes as a sale bid failed last year and exits of top e...
May 17, 2024
US labor board will suspend case against SpaceX pending company's legal challenge
By Daniel Wiessner (Reuters) -The U.S. National Labor Relations Board told a Texas federal judge that it will suspend an administrative case accusing SpaceX of illegally firing engineers critical of CEO Elon Musk while the rocket maker pursues a lawsui...
May 17, 2024
Microsoft plans to release next Call of Duty version on subscription service, WSJ reports
(Reuters) - Microsoft plans to release the coming installment of "Call of Duty" videogame to its subscription service instead of the longtime approach of only selling it à la carte, the Wall Street Journal reported on Friday. The plans are expected...
May 17, 2024
BlackRock CEO sees 'giant issue' for Europe due to AI power needs
ROME (Reuters) - The enormous power supply required by data centres to support artificial intelligence (AI) technologies will create competitive issues among countries and put Europe at a disadvantage, the CEO of BlackRock said on Friday. "It will ...
May 17, 2024
Wipro COO Amit Choudhary quits, business operations head Jain named successor
(Reuters) - India's Wipro said on Friday that its chief operating officer Amit Choudhary is stepping down, with Sanjeev Jain, current global head of business operations named as his successor with immediate effect. This is the second-level senior e...
May 17, 2024
Nigeria court rules Binance executive can face trial on behalf of crypto exchange
By Camillus Eboh ABUJA (Reuters) - A Nigerian court on Friday ruled that Binance executive Tigran Gambaryan can stand trial on behalf of the cryptocurrency exchange in an ongoing tax evasion case. Binance and executives Gambaryan, a U.S. citizen an...
May 17, 2024
CoreWeave raises $7.5 billion debt from Blackstone, others
(Reuters) - Specialized cloud services provider CoreWeave is raising $7.5 billion in debt from financiers led by Blackstone and Magnetar to expand its infrastructure to meet rising artificial intelligence (AI) workloads, it said on Friday. The deal...
May 17, 2024
Factbox-Who is new Prosus and Naspers CEO Fabricio Bloisi?
JOHANNESBURG (Reuters) - Dutch technology investor Prosus and its South African parent group Naspers on Friday named the head of their iFood business, Fabricio Bloisi, as their new CEO, replacing long-time boss Bob van Dijk who stepped down last Se...
May 17, 2024
GameStop expects first-quarter revenue to drop, shares tumble
(Reuters) -GameStop expects first-quarter net sales to drop from a year ago, as customers transition to buying video games and collectibles online, while the retailer largely relies on brick and mortar stores. Shares of the company fell 10% in premarke...
May 17, 2024
Exclusive-VW and Renault end talks to develop affordable EV, sources say
By Gilles Guillaume and Christina Amann PARIS/BERLIN (Reuters) - Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, two sources familiar with the situation said, in a setback for ...
May 17, 2024
Vatican urges caution over weeping Madonnas and other supposed apparitions
By Alvise Armellini VATICAN CITY (Reuters) - The Vatican issued new guidelines on Friday recommending a cautious approach to supposed supernatural events such as weeping Madonnas and blood-dripping crucifixes that have for centuries whipped up the ...
May 17, 2024
UK's CMA says Microsoft-Mistral AI tie-up does not call for probe
(Reuters) - Britain's competition watchdog said on Friday the partnership between Microsoft and Mistral AI did not qualify for an investigation. The announcement comes after the Competition and Markets Authority (CMA) said in April it was seeking c...
May 17, 2024
EU demands clarity from Microsoft on AI risks in Bing
BRUSSELS (Reuters) -The European Commission could fine Microsoft if it doesn't provide adequate information on risks stemming from generative AI features in search engine Bing by May 27. The Commission said on Friday that it is worried about the dissem...
May 17, 2024
Reddit stock jumps after OpenAI partnership
(Reuters) - Shares of Reddit rose 14% on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to draw in more users for the social media platform with AI-enhanced experience and attract more advertising revenue....
May 17, 2024
Hong Kong allows China's digital yuan to be used in local shops
By Selena Li HONG KONG (Reuters) - Hong Kong will allow mainland China's pilot digital currency to be used in shops in the city, the head of its de facto central bank said on Friday, marking a step forward for Beijing's efforts to internationalise...
May 17, 2024
Prosus, parent group Naspers name Fabricio Bloisi as new CEO
(Reuters) -Dutch technology investor Prosus and its South African parent group Naspers on Friday named Fabricio Bloisi as the new chief executive, replacing long-time boss Bob van Dijk who stepped down last September. Bloisi, currently the CEO at iFood...
May 17, 2024
Exclusive-Shanghai compiles data list eligible for faster overseas transfer, document shows
SHANGHAI (Reuters) - Shanghai has compiled a list of data that can be transferred overseas without security assessments, according to a government document seen by Reuters, a much anticipated move as China tries to lure foreign investment to boost ...
May 17, 2024
Exclusive-Musk pushes plan for China data to power Tesla's AI ambitions
By Fanny Potkin SHANGHAI/SINGAPORE (Reuters) - Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, acc...
May 17, 2024
British grocer Sainsbury's partners with Microsoft to use AI for data insights
LONDON (Reuters) - Britain's Sainsbury's said on Friday it has agreed a five-year strategic partnership with Microsoft that will use the technology company's artificial intelligence capabilities and the supermarket group's rich data. Seeking revenu...
May 17, 2024
GM, LG agree on $150 million relief fund for Chevy Bolt EV owners over faulty batteries
(Reuters) - General Motors and South Korean battery firm LG Energy Solution reached a settlement to establish a $150 million fund to provide monetary relief to Chevrolet Bolt EV owners who were affected by defective batteries, documents filed in a ...
May 17, 2024
Stability AI in talks to raise money from investor group
(Reuters) - British artificial intelligence startup Stability AI is in talks with a group of investors for a large equity investment to inject funds into the cash-strapped firm, a company spokesperson told Reuters on Thursday. "Stability AI is enga...
May 17, 2024
Space data fuels India's farming innovation drive
By Nivedita Bhattacharjee BENGALURU (Reuters) - Lokeswara Reddy, an Indian farmer with two decades of experience, has seen his crops flourish after lean years, thanks to earth-observation satellites. Shifting climate patterns, high input costs, a s...
May 17, 2024
Crypto boom, erratic rain spark outages in Laos, Asia's clean power export hub
By Sudarshan Varadhan BANGKOK (Reuters) - Higher electricity demand in Laos due to cryptocurrency mining and erratic rainfall have led to power shortages, an advisor to its state-run utility said, revealing challenges to the nation's prospects as a...
May 17, 2024
Google seeks non-jury trial in US ad tech lawsuit, filing says
WASHINGTON (Reuters) - Alphabet's Google in a court filing on Thursday is seeking a non-jury trial in the U.S. Justice Department's lawsuit accusing the advertising and search giant of anticompetitive practices in the online advertising marketplace...
May 17, 2024