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Microsoft’s recent high-profile deal with UAE-backed AI firm G42 could involve the transfer of sophisticated chips and tools, raising national security concerns. Microsoft President Brad Smith indicated that while the initial phase focuses on collaboration, a future phase might see the export of critical AI components, including model weights, which are essential for AI system
Germany is backing a significant overhaul of European Union import tax regulations, which could eliminate the tax exemption for low-value parcels. This exemption has allowed online retailers such as Shein and Temu to dominate the market with their low-cost products sourced from China. Critics in the United States have already raised concerns about Shein and
Britain’s National Grid (NG.L) has announced plans to raise approximately £7 billion ($8.9 billion) through a rights issue, marking the largest UK capital raising effort of this kind since 2009. This move is aimed at supporting the company’s ambitious £60 billion investment in energy networks, essential for achieving the UK’s target of decarbonizing its power
Starting Tuesday, U.S. trading will shift to a shorter settlement period, a move regulators believe will reduce risk and enhance efficiency in the world’s largest financial markets. However, this transition is expected to initially increase transaction failures for investors. To comply with a rule change adopted by the U.S. Securities and Exchange Commission (SEC) in
The number of Americans filing new claims for unemployment benefits fell last week, underscoring the ongoing strength of the labor market, which is essential for sustaining economic growth. For the week ending May 18, initial claims for state unemployment benefits decreased by 8,000 to a seasonally adjusted 215,000, according to the Labor Department. This figure
As the markets open, Nvidia’s impressive quarterly earnings have bolstered U.S. stock futures, despite concerns over hawkish Federal Reserve meeting minutes, escalating military tensions around Taiwan, and the announcement of an early UK election. Nvidia continues to thrive amid the AI boom, with its stock soaring 7% in after-hours trading. The company’s forecast for second-quarter
Global business activity saw notable improvements this month, particularly in parts of Asia and Europe, according to recent surveys. This positive momentum provides central banks with a potential reason to delay interest rate cuts. Initially, borrowing costs were increased post-COVID-19 to combat soaring inflation. Now, the conversation is shifting to when, and by how much,
Prime Minister Rishi Sunak’s decision to call a British election much earlier than anticipated has stirred strong emotions among Conservative lawmakers, ranging from tears to frustration. Many Conservative MPs, some fighting to retain their seats, feel that six weeks may not be enough to sway skeptical voters. For those planning to step down, the sudden
Argentina harbors vast ambitions for its untapped copper reserves in the Andean north, aiming to become a top 10 global producer. This potential has drawn the interest of major investors like Glencore, Lundin Mining, and First Quantum Minerals. However, realizing this potential hinges on significant economic reforms. Newly elected libertarian President Javier Milei faces the
Israeli forces intensified their operations across the Gaza Strip on Thursday, resulting in the deaths of 35 Palestinians through aerial and ground bombardments, according to health officials and Hamas media reports. The situation escalated in the southern city of Rafah, where Israeli troops engaged in close combat with Hamas-led militants. Residents reported Israeli tanks advancing
