Anthropic announces massive AI chip deal with Google
San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...Technology
Gold falls again as rally comes to halt, Asian markets drop
Gold and silver tumbled for a second day Wednesday, bringing a rally in the precious metals to a juddering halt,...Economy
BRICS nations voice ‘serious concerns’ over Trump tariffs
Rio de Janeiro, Brazil -- BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry US President...Since coming to office in January, Trump has threatened allies and rivals alike with a slew of punitive duties.
His latest salvo comes in the form of letters informing trading partners of new tariff rates that will soon enter into force.
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...OpenAI CEO Sam Altman recently complained that Meta has offered $100 million bonuses to lure engineers away from his company.
Several OpenAI employees have accepted Meta's offers, prompting executives at the ChatGPT maker to scramble to retain their best talent.
Trump metal tariffs wreak havoc on US factory
Belcamp, United States -- In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...At Independent Can's factory in Belcamp, Maryland northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14.
Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task.
G7 to exempt US multinationals from global minimum tax
The deal will see US companies benefit from a "side-by-side" solution under which they will only be taxed at home,...Nearly 140 countries struck a deal in 2021 to tax multinational companies, an agreement negotiated under the auspices of he Organization for Economic Co-operation and Development.
That agreement, deeply criticized by Trump, includes two "pillars," the second of which sets a minimum global tax rate of 15 percent.
World Bank announces Lebanon, Syria reconstruction projects
Beirut, Lebanon -- The World Bank announced on Wednesday it had approved $250 million to support Lebanon's post-war reconstruction and...Lebanon is reeling from last year's devastating war between Israel and Iran-backed Hezbollah, while Syria faces massive needs after the fall of Bashar al-Assad regime.
The grant comes after Saudi Arabia and Qatar said they would pay off Syria's World Bank debt, and as the country's new rulers press reconstruction efforts.
US Fed chair signals no rush for rate cuts despite Trump pressure
The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal...The Fed has held the benchmark lending rate steady since its last reduction in December, bringing the level to a range between 4.25 percent and 4.50 percent.
Last week, Powell told reporters that it would make smarter decisions if it waited to understand how Trump's tariffs impact the economy.
Oil slides, stocks rise as Iran-Israel ceasefire holds
The main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of...Prices were also brought down by Trump saying that China could continue to buy oil from Iran, in what appeared to be relief from sanctions Washington had previously imposed.
There was also relief that Iran has refrained from closing the strategic Strait of Hormuz, a chokepoint for about one-fifth of the world's oil supply.
Oil prices seesaw as investors await Iran response to US strikes
US stocks edged higher while European markets retreated and Asian equities were mixed, with markets keeping a close eye on...They later dipped briefly into the red and then wobbled, standing down around one percent as European markets closed.
Iran is the world's ninth-biggest oil-producing country, exporting just under half of the 3.3 million barrels it produces per day.
Oil prices spike after US strikes on Iran nuclear sites
Economists at MUFG warned of "high uncertainty of the outcomes and duration of this war", giving a "scenario analysis" of...Asian stocks were lower as traders digested the weekend's events, with Iran threatening US bases in the Mideast
Iran is the world's ninth-biggest oil-producing country, with output of about 3.3 million barrels per day
Tesla to build first grid-scale power plant in China
New York, United States - Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage...The project will help with the flexible adjustment of grid resources, and "effectively solve pressures relating to urban power supply," Tesla said
Chinese media outlet Yicai reported that Tesla Shanghai, Shanghai authorities and China Kangfu International Leasing Co. held a signing ceremony Friday for the project
