Sen. Warren calls for Trump to close "loophole" allowing AI chips to be sent to overseas units of Chinese firms
WASHINGTON, June 1 : Democratic Senator Elizabeth Warren is calling on the Trump administration to close a "loophole" that has potentially allowed advanced American AI chips to be sent to overseas units of Chinese firms, according to a statement seen by Reuters. Warren, who serves as ranki ...
AI-driven labor displacement risks to remain low in near term, Bridgewater says
June 1 : Risks of widespread job losses from AI are expected to remain limited this year, according to Bridgewater Associates, with constraints on computing capacity and a resilient economy blunting the technology's near-term impact on employment.Here are more details from the research report:â ...
Seagate reaches US$175 million settlement of shareholder claims it concealed sales to China's Huawei
Seagate Technology reached a US$175 million settlement of a lawsuit claiming it defrauded shareholders by concealing it violated US export control laws by selling more than US$1.1 billion of hard disk drives to China's Huawei Technologies.A preliminary settlement of the proposed class action ag ...
Florida becomes first state to sue OpenAI over child safety risks
June 1 : Florida sued OpenAI and its CEO Sam Altman on Monday, accusing the company of misrepresenting the safety of its ChatGPT platform, which the lawsuit said has harmed children by providing information to school shooters, offering guidance on self-harm and addicting young users.Marking the firs ...
Anthropic moves toward IPO, stepping up race with OpenAI
June 1 : AI giant Anthropic has confidentially filed for a U.S. initial public offering, the company said on Monday, edging ahead of rival OpenAI in a closely watched race to reach public markets.The move sets up an early test of whether investor appetite for artificial intelligence, which has fuele ...
AI giant Anthropic confidentially files for US IPO as investors bet big on AI future
June 1 : AI giant Anthropic said on Monday it has confidentially filed for a U.S. initial public offering, teeing up what could become the watershed moment for Wall Street's AI frenzy.The move sets up a high-stakes test of whether investor appetite for the AI revolution that has reshaped white- ...
Anthropic confidentially files for US IPO, beating OpenAI
June 1 : AI giant Anthropic has confidentially filed for a U.S. initial public offering, the company said on Monday, taking an early lead over rival OpenAI in a race that will define the future business shape of artificial intelligence. The move sets up a high-stakes test of whether investor appetit ...
Stocks hold near record highs as AI optimism trumps Iran tensions
NEW YORK, June 1 : Global stocks clung to record highs on Monday as strong corporate results, fueled in part by artificial intelligence optimism, outweighed investor concerns over escalating U.S.-Iran tensions that have pushed oil prices higher.The U.S. said it struck Iranian military sites at the w ...
Nvidia to work with US, European humanoid robot makers in addition to China's Unitree
SAN FRANCISCO: Nvidia plans to work with humanoid robot makers in the US, Europe and South Korea in addition to China's Unitree to build robots for researchers, according to the AI chip company's executives.After CEO Jensen Huang's keynote address in Taiwan on Monday ahe
Oil soars after report says Iran is set to halt messages with US
Brent climbs as high as US$96.10 a barrel, while West Texas Intermediate is above US$92
Fintech Wise's shares fall on Belgian money-laundering investigationÂ
PARIS, June 1 : Money transfer company Wise's London-listed shares fell by more than 10 per cent on Monday on news that the Brussels Public Prosecutor's Office is investigating its European entity in cases the prosecutor said reportedly involve more than half a billion euros ($582.5 millio ...
EU has had productive meetings with Anthropic over possible future access to Mythos
BRUSSELS, June 1 : The European Commission has had several productive meetings with Anthropic regarding possible future access for EU bodies to Anthropic's Mythos AI product, it said on Monday.• The EU was responding after Bloomberg News reported earlier that Anthropic was set to give the EU& ...
Wall Street opens near record highs as AI optimism counters US-Iran war worries
[NEW YORK] Wall Street’s main indices opened near record highs on Monday (Jun 1) as investors weighed Nvidia’s latest artificial intelligence push...
Norway recovers porcelain, chandeliers from 18th century shipwreck
OSLO, June 1 : Archaeologists have recovered a trove of Chinese porcelain and European-made goods from a recently discovered 18th-century shipwreck off the coast of Norway, government and museum officials said on Monday.Among the goods found in the remains of the unnamed sailing ship were tightly st ...
Honeywell's Quantinuum eyes $14.3 billion valuation in upsized US IPO
June 1 : Honeywell's Quantinuum is targeting a valuation of up to $14.3 billion in its upsized U.S. initial public offering, underscoring robust investor appetite around quantum computing.The Broomfield, Colorado-based company is now seeking up to $1.46 billion by marketing 26.5 million shares ...
Thomson Medical Group names Cassandra Loh as acting CEO for its Singapore operations
Kalpana Rashiwala - She will take over from Lee Suen Ming, who will be leaving to ‘pursue personal interests’
US dollar in holding pattern as markets await progress on Middle East peace talks
BOJ governor Ueda’s upcoming speech eyed for rate hike signals
Global stocks hold near highs as AI boom outweighs Middle East tensions
Oil prices surge nearly 3% as Gulf hostilities threaten Strait of Hormuz reopening
Investment firm Permira taps Thoma Bravo veteran Mike Hoffmann as part of AI dealmaking push
NEW YORK, June 1 : Global investment firm Permira has added Thoma Bravo’s Mike Hoffmann as a partner on its technology team as the firm looks to step up large technology dealmaking ahead of an expected AI‑driven M&A wave, Permira executives exclusively told Reuters.Hoffmann will join the glo ...
Exclusive-EU cloud rules to curb Big Tech's access to strategic tenders, draft document shows
BRUSSELS/AMSTERDAM, June 1 : The European Union plans to propose strict criteria for cloud computing services in highly critical state tenders that could exclude Amazon, Microsoft and Google from such projects, according to documents seen by Reuters.The proposal is part of the European Commission� ...
Exclusive-EU cloud rules to curb Amazon, Google access to strategic tenders, draft document shows
BRUSSELS/AMSTERDAM, June 1 : Europe plans to propose strict criteria for cloud computing services in highly critical state tenders that could exclude Amazon, Microsoft and Google from such projects, according to documents seen by Reuters.The proposal is part of the European Commission's Cloud a ...
BYD sales rise for first time in 9 months on overseas demand
It is aiming to sell 1.3 million cars outside China this year, around 25% more than in 2025
Motorola targets rogue drones with $1.5 billion D-Fend deal
June 1 : Motorola Solutions said on Monday it would buy Israeli startup D-Fend Solutions for $1.5 billion as governments and critical infrastructure operators worldwide rush to defend against the growing threat of rogue drones.Shares of the company were up more than 2 per cent.Attacks on key infrast ...
Motorola Solutions bets on anti-drone tech with $1.5 billion D-Fend deal
June 1 : Motorola Solutions will buy Israeli counter-drone technology maker D-Fend Solutions for $1.5 billion to tap rising demand from governments and critical infrastructure operators to counter rising security threats. The acquisition is expected to close in the fourth quarter of 2026, the teleco ...
Crypto exchange Binance rolls out trading in US stocks, ETFs
June 1 : Crypto exchange Binance said on Monday it has launched stock and exchange-traded fund trading for customers on its platform, expanding beyond digital assets into traditional financial markets.Here are some details of the announcement: • Binance said users will have access to more than 7,0 ...
BYD snaps longest streak of sales declines
BEIJING, June 1 : Chinese electric vehicle giant BYD snapped its longest-ever eight-month sales decline streak in May, despite weakening domestic demand and intensifying competition continuing to weigh on performance..Vehicle sales globally grew 0.3 per cent from a year earlier to 383,453 units last ...
Wall Street futures gain as AI advances overshadow US-Iran tensions
June 1 : U.S. stock index futures climbed on Monday, starting June on a firm footing, as the latest AI push from Nvidia and Microsoft lifted shares, even as uncertainty over the Middle East war lingered.Nvidia rose 1.6 per cent in premarket trading after the world's most valuable company unveil ...
SoftBank Group overtakes Toyota as Japan’s most valuable company
Changing of the guard underscores how rapidly investor tastes have shifted towards companies that are benefiting from the AI build-out
Emerging market stocks hit record as investors assess factory data, Mid-East peace prospects
MSCI index of EM stocks rises 1.4% as tech-heavy bourses in Taiwan and South Korea climb to a record
China stocks dip to six-week low as tech firms drag, factory activity stalls
Shanghai Composite index drops 0.3% to 4,057.74 at market close
‘Quite alarming’: More companies must think about replacing their CEOs, boards
Jude Chan - Apac firms’ significant lack of confidence in their renewal processes may spell trouble, warns Heidrick & Struggles’ ​Terence Quek
Toyota chairman's son to take new role at automaker in August
TOKYO, June 1 : Toyota Motor subsidiary, Woven by Toyota, said on Monday that Senior Vice President Daisuke Toyoda, the son of Toyota Chairman Akio Toyoda, will move to a new role at the automaker effective August 1.Toyoda will return as a project manager to a division close to the "genba" ...
Japan must promote yen stablecoins in Asia, ruling party panel says
TOKYO, June 1 : Japan must promote usage of yen-based stablecoins for settlement in Asia and create a legal framework to allow trading of crypto exchange-traded funds (ETF), a ruling party panel said in a proposal to the government on Monday."Crypto-ETFs would provide investors with easy-to-und ...
Samsung, LG shares rally ahead of Nvidia CEO meetings with Korean executives
(Corrects to Huang in second reference in paragraph 4)SEOUL, June 1 : Shares in Samsung Electronics, LG Electronics and other South Korean tech firms rallied on Monday, as expected meetings between Nvidia CEO Jensen Huang and Korean executives boosted hopes of tie-ups in AI and robotics.Chipmaker Sa ...
