The United States and the European Union need to produce clear results next month from their forum on trade and technology and forge closer ties on green products and technology, European Trade Commissioner Valdis Dombrovskis said on Wednesday. Sweden will host a fourth ministerial-level meeting of the Trade and Technology Council (TTC) on May 30-31, […]
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European Union plans, due next week, will seek to speed up handling of failing banks to ensure they are not bailed out by taxpayers but “bailed in” using their own resources, EU documents seen by Reuters showed. The draft plans would have a requirement for EU authorities, including the European Central Bank, to give an […]
Intel Corp on Wednesday said its chip contract manufacturing division will work with U.K.-based chip designer Arm Ltd to ensure that mobile phone chips and other products that use Arm’s technology can be made in Intel’s factories. Once the biggest name in chips known as central processing units (CPUs), Intel has seen long seen its […]
Nvidia Corp said on Wednesday it is packing one of its mid-range chips for gamers with more artificial intelligence features to improve graphics, underscoring the importance of gaming for the company despite the segment’s slowing revenue. The new RTX 4070 chip, which Nvidia will start shipping on Thursday, will cost $599, putting it near the […]
Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion) in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, cannot be overturned. Although parliament’s upper house earlier on Wednesday retrospectively approved the measures, the lower house rejected them for the […]
Major global currencies including the U.S. dollar were steady on Wednesday ahead of U.S. inflation data which investors will scrutinise for clues as to when the Federal Reserve could end its rate hiking cycle. The March inflation reading, due at 1230 GMT, is forecast to come in at 5.2% year on year, down from 6.0% […]
European stock indexes hit new highs on Wednesday as markets anticipated crucial U.S. inflation data which could give signals on how soon the Federal Reserve will end its aggressive rate hikes. After Friday’s jobs report showed a resilient U.S. labour market, emboldening bets of a 25 basis point hike at the Fed’s next meeting in […]
Deutsche Bank is looking for ways to minimise business disruption as it reduces risks from its Russian technology operations in line with the law, Germany’s biggest lender said on Wednesday. The comments by a bank spokesperson followed a report in the Financial Times that the bank was winding down its remaining software technology operations in […]
French officials were in damage control mode on Tuesday as they tried to contain anger, division and confusion sparked by President Emmanuel Macron’s comments on Europe’s dependence on the United States and its relations with China and Taiwan. Macron’s comments came in an interview on a trip to China that was meant to showcase European […]
The Biden administration said Tuesday it is seeking public comments on potential accountability measures for artificial intelligence (AI) systems as questions loom about its impact on national security and education. ChatGPT, an AI program that recently grabbed the public’s attention for its ability to write answers quickly to a wide range of queries, in particular […]