The U.S. Federal Deposit Insurance Corp has asked banks including JPMorgan Chase & Co and PNC Financial Services Group to submit final bids for First Republic Bank by Sunday after gauging their initial interest earlier in the week, Bloomberg News reported. The banking regulator reached out to banks late on Thursday seeking indications of interest, including a proposed price […]
As UBS’s takeover of former rival Swiss bank Credit Suisse nears completion, details are emerging of what the new merged bank will look like. UBS is working towards spinning off the Swiss part of Credit Suisse and having the business’s current head, Andre Helfenstein, run it, NZZ am Sonntag reported on Sunday. The Swiss newspaper cited a […]
As Canada’s largest strike by federal workers approaches its third week, thousands of people are in immigration limbo amid canceled hearings and stalled applications, which could make it harder for the country to compete for global talent as employers face a tight labour market. About 155,000 federal public servants have been on strike since April […]
Britain on Monday announced 100 million pounds ($124.5 million) in initial funding for a taskforce to help develop foundation models – a type of artificial intelligence used by chatbots like ChatGPT – for use in fields like healthcare and education. “Harnessing the potential of AI provides enormous opportunities to grow our economy, create better-paid jobs, […]
U.S. tech giants will emphasize how artificial intelligence can be the next growth driver when they report quarterly results this week, while investors scrutinize if cost cuts have boosted profits to their satisfaction. Microsoft Corp and Google parent Alphabet Inc kick off earnings for the companies on Tuesday, with Instagram owner Meta Platforms Inc and Amazon.com Inc set to […]
The European Consumer Organisation (BEUC) has joined the chorus of concern about ChatGPT and other artificial intelligence chatbots, calling on EU consumer protection agencies to investigate the technology and the potential harm to individuals. The growing popularity of Microsoft-backed Open AI’s ChatGPT, which can mimic humans and create text and images based on prompts, has spurred […]
Thyssenkrupp said on Monday its chief executive Martina Merz, who launched a major overhaul of the German industrial conglomerate, is leaving, causing shares to plunge. Merz took over as CEO in 2019 after a string of profit warnings and a failed steel merger that brought Thyssenkrupp to the brink of collapse and triggered the sale of […]
Tesla has begun producing in Shanghai a version of the Model Y to be sold in Canada this year, the first time it will ship cars to North America from China, according to a person with direct knowledge of the plan and a production memo seen by Reuters. The move would connect Tesla’s biggest and most […]
In Argentina’s mountainous north, a strong pipeline of lithium projects close to coming online looks set to unlock a wave of production that could see its output of the key electric vehicle battery metal as much as triple within the next two years. The world’s fourth largest producer of the silvery-white metal sits within the […]
Kenyan police have recovered 58 bodies, mostly from mass graves in a forest in eastern Kenya, thought to be followers of a Christian cult who believed they would go to heaven if they starved themselves, the country’s police chief said on Monday. The death toll, which has repeatedly risen as exhumations have been carried out, […]
