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ByteDance Lays Off Over 700 Employees in Malaysia Amid AI-Focused Content Moderation Shift

Oct 11, 2024 04:03 am UTC| Economy

China-based ByteDance, the parent company of popular social media platform TikTok, has laid off more than 700 employees from its Malaysian operations, according to sources familiar with the situation. The layoffs come as...

U.S. Stock Index Futures Edge Higher Amid Inflation Data and Q3 Earnings Anticipation

Oct 11, 2024 03:55 am UTC| Economy

U.S. stock index futures saw a slight rise in after-hours trading on Thursday, following a mildly negative session on Wall Street. The uptick came despite stronger-than-expected consumer inflation data, which raised...

US inflation rate fell to 2.4% in September − here’s what that means for interest rates and markets

Oct 11, 2024 02:50 am UTC| Insights & Views Economy

It wasnt that long ago that the Federal Reserve, the central bank for the United States, was worrying that annual inflation would surpass 9% in the middle of 2022. The U.S. economy hadnt seen prices rise that fast since...

Use of AI in property valuation is on the rise – but we need greater transparency and trust

Oct 11, 2024 02:49 am UTC| Insights & Views Economy Real Estate

New Zealands economy has been described as a housing market with bits tacked on. Buying and selling property is a national sport fuelled by the rising value of homes across the country. But the wider public has little...

FxWirePro- Major Economic events for the day

Oct 10, 2024 04:18 am UTC| Economy

Date Time (GMT) Currency Event Forecast Previous Oct 10th2024 11:30 am EUR ECB Monetary...

DOJ Antitrust Remedies Threaten Google’s Search and AI Dominance

Oct 10, 2024 03:49 am UTC| Economy

Revised Article: U.S. DOJ Proposes Breaking Up Google to Curb Search Dominance The U.S. Department of Justice (DOJ) has proposed significant remedies aimed at dismantling Googles search monopoly, which could severely...

Google Faces Mounting Antitrust Pressure as Legal Battles Intensify

Oct 10, 2024 03:43 am UTC| Economy

Alphabets Google is currently embroiled in multiple high-stakes antitrust lawsuits that could significantly alter its hold over key markets such as online search, Android apps, and digital advertising. This week, Google...

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Economy

Europe’s AI Data Centre Boom Strengthens Case for Nuclear Power

Europes rapid expansion of AI data centres could increase demand for new nuclear power capacity as technology companies seek reliable, low-carbon electricity, according to J.P. Morgan analysts. European data centre...

South Korea Tax Windfall Could Top 50 Trillion Won on Chip Boom

South Koreas excess tax revenue could surpass 50 trillion won ($37 billion) in 2026 as a stronger-than-expected semiconductor cycle boosts corporate earnings and government receipts, Bloomberg reported, citing calculations...

US Stocks Face Jobs, Inflation Test as Fed Rate Hike Bets Rise

U.S. stocks face a crucial test in the coming week as investors await employment and inflation data that could shape expectations for the Federal Reserves next interest rate move. Major indexes remained near record highs...

ECB May Stop Rate Hikes After December, Capital Economics Says

Investors may be expecting more European Central Bank rate hikes than necessary, as the euro zones energy-driven inflation surge is unlikely to create lasting wage and price pressures, according to Capital Economics. The...

Trump to Ease U.S. Fuel-Economy Standards

The Trump administration is set to unveil new U.S. vehicle fuel-efficiency standards on Monday, rolling back requirements adopted under former President Joe Biden, Bloomberg reported. President Donald Trump announced plans...

Politics

Iran Holds Firm on Hormuz Reopening Terms Despite Trump Rejection

Iran has refused to ease its conditions for reopening the Strait of Hormuz, saying it is still waiting for a formal U.S. response through mediators despite President Donald Trumps statement that he rejected Tehrans...

Republicans Flood Safe House Races With Cash as Midterm Risks Rise

Republicans are directing fresh campaign money into dozens of U.S. House races once considered safe as internal polling raises concerns about the partys position ahead of the November 3 midterm elections. Since September...

China Says U.S. Shares Responsibility for AI Governance

China and the United States share both the ability and responsibility to guide the development of artificial intelligence, according to commentary published by a social media account linked to Chinese state broadcaster...

Iran Warns US Against Renewed Attacks as Hormuz Tensions Rise

Irans armed forces are prepared to respond to any renewed U.S. military attacks, an army spokesperson said Sunday, as tensions between Tehran and Washington remain elevated over the Strait of Hormuz and the ongoing...

UK PM Burnham Signals Social Care Tax Changes, Questions Heathrow Expansion

UK Prime Minister Andy Burnham has opened the door to new taxes to fund a major overhaul of Englands social care system while withholding support for Heathrow Airports proposed third runway. Speaking ahead of Labours...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

OpenAI, Anthropic CEOs Summoned to Australia AI Inquiry

OpenAI CEO Sam Altman and Anthropic CEO Dario Amodei have been asked to appear before an Australian Senate inquiry into artificial intelligence following revelations that an OpenAI agent accessed the countrys Medicare...

OpenAI AI Agents Bypassed UN Website Controls in Data Scraping

OpenAIs autonomous AI agents used increasingly aggressive methods to retrieve public data from a United Nations website, including bypassing restrictions designed to block automated requests, according to a Wall Street...

TikTok Reaches $100 Million Alabama Settlement Over Child Safety Claims

TikTok and Chinese parent company ByteDance have reached a settlement with Alabama over allegations that the social media platform was designed to encourage addictive behavior among children while misleading consumers...

OpenAI Agents Access U.S. Government Websites During Testing

OpenAI artificial intelligence agents accessed several U.S. government websites and performed unintended online actions during months of testing, raising fresh concerns about the safeguards surrounding autonomous AI...

AMD Hits $1 Trillion as BofA Raises Price Target to $720

Advanced Micro Devices (NASDAQ: AMD) has joined the $1 trillion market capitalization club, and BofA Securities believes the semiconductor giant has room to climb further as artificial intelligence drives stronger demand...