Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
Business
Business
Higher prices boost Coca-Cola sales despite Middle East hit
Chief Executive James Quincey described consumers in North America as "holding up well," although he acknowledged "a little softening" through...
- Revenues for the soda giant rose seven percent from the year-ago level to $10.9 billion, reflecting a two percent rise in volumes and nine percent increase in price/mix
- The ongoing conflict in the Middle East dented volume growth by about one point in the fourth quarter, said Chief Financial Officer John Murphy
Business
Sony hikes net profit forecast
It now predicts full-year net profit to touch US$6.1 billion.
- The conglomerate now predicts full-year net profit of $6.1 billion
- Sony also announced it would spin off its financial services division
Opinion
CFOs at forefront of ESG integration in businesses
"The CFO's role as an ESG guardian and promoter varies significantly across organizations. CFOs with limited ESG experience should deepen...
- Integration of ESG into finance sectors highlights the evolving expectations from CFOs.
- In-house research shows 89 percent of CFOs rate communication as the most vital skill.
Business
Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.
- The company said it will support oversight from the Federal Aviation Administration after a near-catastrophic Alaska Airlines incident
- The Federal Aviation Administration grounded more than 170 MAX 9 planes for about three weeks. after the Alaska Airlines emergency
Business
UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...
- With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far surpassing the global average, say a report.
- AI and machine learning are viewed by UAE tech leaders as pivotal for reaching short-term objectives, outpacing the perceived utility of the metaverse, it adds.
Business
EU excuses Apple and Microsoft products from tougher tech curbs
Brussels, Belgium - Apple's iMessage and Microsoft's Bing search engine got a reprieve from tougher EU rules curbing how tech titans...
- "We thank the Commission for agreeing with us that iMessage should not be designated under the DMA (Digital Markets Act)," an Apple spokesperson said
- The EU has built a powerful legal arsenal to take on the internet giants, including the DMA and its sister milestone law, the Digital Services Act (DSA)
Business
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
- The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
- Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,
Business
EU adopts fallow land exemption after farmer protests
Brussels, Belgium - The European Commission on Tuesday officially extended an exemption from contested rules to leave a share of agricultural...
- The EU acknowledged that a combination of geopolitics and extreme weather meant farmers were struggling to meet the fallow land rule
- The fallow land rule was imposed as part of the bloc's common agricultural policy to promote biodiversity
Business
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...
- After dropping in reaction to last month's green light by Washington, bitcoin has rallied about 25%
- That advance saw it hit as much as $50,328, according to Bloomberg data, its highest level since late 2021
Business
Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.
- Sales by volume dropped by 4.7 percent but Michelin said this reflected its strategy of prioritizing markets and business segments
- Sales of premium and big tyres, in particular for SUVs, helped improve the company's performance, as did a drop in costs for raw materials
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
Business
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Turkish Airlines says offer to buy stake in Spain’s Air Europa accepted
Turkish Airlines on Tuesday said Air Europa had accepted its 300-million-euro ($350 million) offer to purchase a minority stake in...
Business
Google and Australia’s national newswire strike AI deal
Sydney, Australia - Australia's national newswire has agreed to provide content to Google's Gemini artificial intelligence to improve its responses,...
Business
Big-ticket events boost international tourism and economic growth
Dubai, UAE -- ‘Big-ticket’ events are playing a pivotal role in driving international tourism and accelerating economic growth, according to...
Business
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Business
Aramco signs $11bn deal
The deal involves its Jafurah gas facilities.
- Jafurah is the largest non-associated gas development in the Kingdom of Saudi Arabia, estimated to contain 229 trillion standard cubic feet of raw gas.
- It is a key component in Aramco’s plans to increase gas production capacity by 60 percent between 2021 and 2030.
Business
Larry Fink, André Hoffmann take interim helm at WEF, pledge renewed push for global cooperation
The World Economic Forum has named BlackRock CEO Larry Fink and Swiss entrepreneur André Hoffmann as interim co-chairs, with both...
- “We are honored to take on this leadership role on an interim basis at a pivotal time for the World Economic Forum,” Fink and Hoffmann said in a joint statement
- The two leaders stressed that the WEF is uniquely positioned to bridge divides a time when the world more fragmented and complex than ever
Business
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...
- Bitcoin is also winning investor support thanks to strong backing for the cryptocurrency sector from Trump.
- Most European equity indices climbed after major Asian peers ended lower.