French President Emmanuel Macron said Europe must resist eroding trade and diplomatic ties with China as he arrived for a state visit on Wednesday, seeking to refute any sense there was an “inescapable spiral” of tension between Beijing and the West. Shortly after touching down ahead of EU chief Ursula von der Leyen, who is […]
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Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March 23 on Deribit, a leading exchange for crypto-focused derivatives […]
Deutsche Telekom now holds a majority in T-Mobile U.S., the chief executive of the German telecoms company said on Wednesday. The company reached a majority stake in T-Mobile U.S late Tuesday, CEO Tim Höttges said at the company’s annual general meeting. “We have the majority and are the largest shareholder of the world’s most valuable […]
Facebook-owner Meta published an artificial intelligence model on Wednesday that can pick out individual objects from within an image, along with a dataset of image annotations that it said was the largest ever of its kind. The company’s research division said in a blog post that its Segment Anything Model, or SAM, could identify objects […]
UBS executives sought to assure investors on Wednesday that Switzerland’s largest bank can make its unexpected takeover of Swiss rival Credit Suisse work and pay off for its shareholders. While describing the biggest bank rescue since the global financial crisis as a milestone for the industry and a major challenge for the bank, Chairman Colm […]
Italy’s antitrust authority said on Wednesday it would investigate Meta Platform over the possible abuse of its position in talks over the rights to music posted on Meta’s platforms and potentially hurting competition in the sector. The dispute involved the Italian society of authors and publishers, SIAE. According to the antitrust regulator, Mark Zuckerberg’s company […]
French President Emmanuel Macron landed in China on Wednesday shortly ahead of EU chief Ursula von der Leyen as the two European leaders seek to smooth ties with a key economic partner while broaching thorny issues like Ukraine and trade risks. Macron on his first trip to China since 2019, spoke to US President Joe […]
China has urged the World Trade Organization to scrutinise US-led technology export restrictions aimed at curbing its ability to make advanced chips, state television said on Wednesday. Chinese representatives told a WTO meeting this week that Japan, the Netherlands and the United States should report their plans and subsequent measures to the body, which it […]
The U.S. dollar was stuck near two-month lows on Wednesday as weak economic data bolstered views that the Federal Reserve is near the end of its tightening cycle, while the New Zealand dollar jumped after a larger-than expected interest rate hike. New Zealand’s central bank raised interest by 50 basis points (bps) to a more […]
The Biden administration on Tuesday released final guidance on how clean energy companies can secure additional tax credits when investing in U.S. communities economically tied to fossil fuels like oil and coal. The Inflation Reduction Act (IRA) passed last year by Democrats extended a 30% tax credit for wind, solar and other green energy projects, […]