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Energy Environment World

Not enough resources for EVs to be only cleaner car option, Toyota says

 A lack of resources means battery electric vehicles (BEV) cannot be the auto sector’s only answer to climate change, Toyota Motor Corp’s top scientist said Thursday, warning that focusing on BEVs could lead some drivers to hold onto polluting vehicles. Some investors and environmental groups have long criticised Toyota for being slow to embrace BEVs, saying it has […]

Technology World

India launches $2 bln incentive package to boost IT hardware production

India on Wednesday unveiled an expanded incentive scheme to attract big-ticket investments in IT hardware manufacturing, doubling the amount to $2 billion as it aims to spur domestic production of laptops and tablets. The programme, which also covers personal computers and servers, is expected to benefit global and Indian companies such as Dell, Wistron Corp, […]

Healthcare Lifestyle World

AI threatens humanity’s future, 61% of Americans say: Reuters/Ipsos poll

The swift growth of artificial intelligence technology could put the future of humanity at risk, according to most Americans surveyed in a Reuters/Ipsos poll published on Wednesday. More than two-thirds of Americans are concerned about the negative effects of AI and 61% believe it could threaten civilization. Since OpenAI’s ChatGPT chatbot became the fastest growing application of […]

Business World

Blackstone, Thomson Reuters consortium sells $3.4 bln LSEG shares at discount

An investor consortium including U.S. buyout firm Blackstone and Thomson Reuters sold 33 million shares in the London Stock Exchange Group worth about 2.7 billion pounds ($3.41 billion), a bookrunner said on Wednesday. The placing of shares, which was upsized from 28 million, was at a price of 8,050 pence per share, a discount of about 5% to LSEG’s […]

Finance World

Ex-First Republic CEO blames contagion for bank’s collapse

The former chief executive of the First Republic Bank Michael Roffler blamed the bank’s collapse on the contagion from the failures of other regional banks and said regulators did not express concerns regarding the bank’s strategy, liquidity, or management performance. A total of over $100 billion in deposits were withdrawn from the bank over the […]

Business Finance World

Analysis: Overexposed US regional banks could sell commercial property loans

Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources. Regional banks, the largest lenders to the beleaguered U.S. CRE and construction markets, have reduced their exposure to […]

Energy Environment World

First nuclear fusion plants to need $7 billion supply chain – survey

 Companies looking to harness the process that powers the sun and stars to generate electricity expect to spend about $7 billion by the time their first nuclear fusion plants come online, a survey published on Wednesday said. Fusion occurs when the nuclei of two light atoms such as hydrogen, heated to extreme temperatures, fuse into […]

Finance World

UBS says it was rushed into unwanted Credit Suisse rescue merger

 UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG (CSGN.S) in a deal it did not want, as a global bank crisis worsened the latter’s finances and prompted authorities to take swift action, a regulatory filing showed. UBS, in a Tuesday filing to the U.S. Securities and Exchange Commission, told investors it had less […]