GameStop expects first-quarter revenue to drop, shares tumble
(Reuters) -GameStop expects first-quarter net sales to drop from a year ago, as customers transition to buying video games and collectibles online, while the retailer largely relies on brick and mortar stores. Shares of the company fell 10% in premarke...
May 17, 2024
Exclusive-VW and Renault end talks to develop affordable EV, sources say
By Gilles Guillaume and Christina Amann PARIS/BERLIN (Reuters) - Volkswagen has walked away from talks with Renault to jointly develop an affordable electric version of the Twingo car, two sources familiar with the situation said, in a setback for ...
May 17, 2024
Vatican urges caution over weeping Madonnas and other supposed apparitions
By Alvise Armellini VATICAN CITY (Reuters) - The Vatican issued new guidelines on Friday recommending a cautious approach to supposed supernatural events such as weeping Madonnas and blood-dripping crucifixes that have for centuries whipped up the ...
May 17, 2024
UK's CMA says Microsoft-Mistral AI tie-up does not call for probe
(Reuters) - Britain's competition watchdog said on Friday the partnership between Microsoft and Mistral AI did not qualify for an investigation. The announcement comes after the Competition and Markets Authority (CMA) said in April it was seeking c...
May 17, 2024
EU demands clarity from Microsoft on AI risks in Bing
BRUSSELS (Reuters) -The European Commission could fine Microsoft if it doesn't provide adequate information on risks stemming from generative AI features in search engine Bing by May 27. The Commission said on Friday that it is worried about the dissem...
May 17, 2024
Reddit stock jumps after OpenAI partnership
(Reuters) - Shares of Reddit rose 14% on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to draw in more users for the social media platform with AI-enhanced experience and attract more advertising revenue....
May 17, 2024
Hong Kong allows China's digital yuan to be used in local shops
By Selena Li HONG KONG (Reuters) - Hong Kong will allow mainland China's pilot digital currency to be used in shops in the city, the head of its de facto central bank said on Friday, marking a step forward for Beijing's efforts to internationalise...
May 17, 2024
Prosus, parent group Naspers name Fabricio Bloisi as new CEO
(Reuters) -Dutch technology investor Prosus and its South African parent group Naspers on Friday named Fabricio Bloisi as the new chief executive, replacing long-time boss Bob van Dijk who stepped down last September. Bloisi, currently the CEO at iFood...
May 17, 2024
Exclusive-Shanghai compiles data list eligible for faster overseas transfer, document shows
SHANGHAI (Reuters) - Shanghai has compiled a list of data that can be transferred overseas without security assessments, according to a government document seen by Reuters, a much anticipated move as China tries to lure foreign investment to boost ...
May 17, 2024
Exclusive-Musk pushes plan for China data to power Tesla's AI ambitions
By Fanny Potkin SHANGHAI/SINGAPORE (Reuters) - Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, acc...
May 17, 2024
British grocer Sainsbury's partners with Microsoft to use AI for data insights
LONDON (Reuters) - Britain's Sainsbury's said on Friday it has agreed a five-year strategic partnership with Microsoft that will use the technology company's artificial intelligence capabilities and the supermarket group's rich data. Seeking revenu...
May 17, 2024
GM, LG agree on $150 million relief fund for Chevy Bolt EV owners over faulty batteries
(Reuters) - General Motors and South Korean battery firm LG Energy Solution reached a settlement to establish a $150 million fund to provide monetary relief to Chevrolet Bolt EV owners who were affected by defective batteries, documents filed in a ...
May 17, 2024
Stability AI in talks to raise money from investor group
(Reuters) - British artificial intelligence startup Stability AI is in talks with a group of investors for a large equity investment to inject funds into the cash-strapped firm, a company spokesperson told Reuters on Thursday. "Stability AI is enga...
May 17, 2024
Space data fuels India's farming innovation drive
By Nivedita Bhattacharjee BENGALURU (Reuters) - Lokeswara Reddy, an Indian farmer with two decades of experience, has seen his crops flourish after lean years, thanks to earth-observation satellites. Shifting climate patterns, high input costs, a s...
May 17, 2024
Crypto boom, erratic rain spark outages in Laos, Asia's clean power export hub
By Sudarshan Varadhan BANGKOK (Reuters) - Higher electricity demand in Laos due to cryptocurrency mining and erratic rainfall have led to power shortages, an advisor to its state-run utility said, revealing challenges to the nation's prospects as a...
May 17, 2024
Take-Two expects GTA VI launch in fall 2025, cuts bookings forecast
(Reuters) -Take-Two Interactive Software tempered expectations for fiscal 2025 bookings on Thursday, after setting the release of the highly anticipated "Grand Theft Auto VI" in the fall of calendar 2025. Shares of the New York-based company fell 3.5% ...
May 16, 2024
Copart's third-quarter revenue beats as vehicle sales rise
(Reuters) - Online vehicle auction services provider Copart marginally beat third-quarter revenue estimates on Thursday as vehicle sales increased. The Dallas-based company, which primarily provides services to sell damaged and total-loss vehicles ...
May 16, 2024
AI voiceover company stole voices of actors, New York lawsuit claims
By Blake Brittain (Reuters) - Two voice actors sued artificial-intelligence startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology...
May 16, 2024
OpenAI strikes deal to bring Reddit content to ChatGPT
(Reuters) -Reddit has partnered with OpenAI to bring the social media platform's content to popular chatbot ChatGPT, the companies said on Thursday, sending Reddit's shares up 12% in extended trade. The deal underscores Reddit's attempt to diversify it...
May 16, 2024
Applied Materials forecasts strong third quarter on AI boom
(Reuters) -Semiconductor equipment maker Applied Materials forecast third-quarter results largely above Wall Street estimates on Thursday, indicating robust demand fueled by an artificial intelligence boom. The company has benefited from growing demand...
May 16, 2024
Figma valued at $12.5 billion in tender offer backed by Fidelity, others
By Krystal Hu (Reuters) - Cloud-based designer platform Figma is closing a deal to allow its employees and early investors to sell their stake to new and existing investors at a valuation of $12.5 billion, the company said on Thursday. Figma, whose...
May 16, 2024
Tesla gets local council go-ahead for German factory expansion
GRUENHEIDE, Germany (Reuters) - Tesla got the go-ahead for an expansion of its German factory in Gruenheide near Berlin from the local council on Thursday despite protests against the U.S. electric vehicle maker's plans. The green light from the Gr...
May 16, 2024
Ampere Computing pairs with Qualcomm on AI, unveils new chip
By Stephen Nellis and Max A. Cherney (Reuters) - Ampere Computing on Thursday said it was pairing its chips with those from Qualcomm in a new offering aimed at lowering the power bills from operating artificial intelligence chips. Founded by Renee ...
May 16, 2024
Exclusive-Vercel completes $250 million Series E round at $3.25 billion valuation
By Anna Tong (Reuters) - Vercel, a software startup that provides a platform for building cloud-based web applications, on Thursday said it has raised $250 million in a Series E funding round that values the company at $3.25 billion. The round was ...
May 16, 2024
Cisco rises as networking equipment demand rebound takes root
(Reuters) - Cisco Systems shares rose about 4% before the bell on Thursday after an upbeat fourth-quarter forecast signaled further stabilization in networking equipment demand and benefits from its $28 billion deal for cybersecurity firm Splunk. T...
May 16, 2024