Reported about 1 month ago
Pavel Durov, the founder of Telegram, is under formal investigation in France for alleged complicity in facilitating illicit activities on the platform. His lawyer, David-Olivier Kaminski, criticized the investigation as 'totally absurd,' arguing that a social network head cannot be responsible for all content on the platform. Durov was arrested near Paris and later released on bail, sparking discussions about the limits of legal accountability for tech companies regarding user-generated content.
Source: YAHOO
Reported about 1 month ago
Binghatti Properties, a Dubai developer, is experiencing a surge in demand for properties from affluent Turkish and Egyptian buyers seeking refuge from currency instability. The firm plans to build approximately 12,000 homes over the next two years, building on the existing 9,000 in progress. With property prices in Dubai rising significantly, these international buyers are increasingly attracted to the emirate's real estate market, contributing to the ongoing construction and expansion of luxury offerings.
Source: YAHOO
Reported about 1 month ago
South Korea's Constitutional Court has ordered the government to create detailed plans for reducing carbon emissions through 2049, following climate cases brought by 254 plaintiffs, including many young people. The court acknowledged that the current goal to cut emissions by 35% from 2018 levels by 2030 is insufficient, and stressed the need for strategies beyond 2031, despite upholding other aspects of the government's climate legislation.
Source: YAHOO
Reported about 1 month ago
Google is exploring the establishment of a large 'hyperscale' data centre near Ho Chi Minh City, marking the first significant investment by a major U.S. tech company in Vietnam. This move is seen as a response to the country's growing digital economy and its potential as a market for cloud services, despite challenges like inadequate infrastructure and energy supply issues that have deterred other foreign investments.
Source: YAHOO
Reported about 1 month ago
The far-right Alternative for Germany (AfD) party is poised to potentially become the strongest party in upcoming state elections in Saxony and Thuringia, reflecting the discontent with the national government. While the ruling coalition faces declining support due to internal conflicts and economic stagnation, the AfD capitalizes on anti-immigration sentiments. Additionally, a new leftist party, Sahra Wagenknecht Alliance, aims to alter the political landscape, complicating the coalition prospects for the traditional parties.
Source: YAHOO
Reported about 1 month ago
Fermat Capital Management, a major player in the catastrophe bond market, experienced a decline in returns this year due to widespread fears over a potentially severe hurricane season. While their returns aligned with the 5.8% increase of the Swiss Re Global Cat Bond Performance Index, it was significantly lower than the previous year’s performance. Investors reacted to forecasts of an active hurricane season, leading to increased selling pressure in the secondary market, marked by a notable drop in returns during May.
Source: YAHOO
Reported about 1 month ago
Nvidia's shares fell 7% in Frankfurt following disappointing quarterly forecasts that did not meet investors' expectations, despite reporting strong second-quarter revenue and announcing a $50 billion share buyback. The decline reflects a broader trend observed in after-hours trading in the U.S. markets.
Source: YAHOO
Reported about 1 month ago
Government bond markets, having enjoyed significant gains over the summer, are now confronted with challenges due to expectations for rapid central bank rate cuts and uneven inflation. With U.S. Treasury yields experiencing their largest monthly decline this year, investors remain cautious amid economic data signaling a soft landing, contrasting with bullish sentiment in the bond markets. The upcoming U.S. jobs report could further determine the trajectory of bond yields, while the approaching U.S. presidential election adds an additional layer of uncertainty.
Source: YAHOO
Reported about 1 month ago
Oil prices remained steady as the U.S. reported a smaller-than-expected decline in crude inventories, countering supply disruptions from Libya. Brent crude dipped slightly, while West Texas Intermediate rose marginally. Concerns over political strife in Libya, which has led to significant drops in oil production, alongside expectations of upcoming interest rate cuts in the U.S., have kept market dynamics tense.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Yelp has launched an antitrust lawsuit against Google, accusing the tech giant of using its monopoly power to manipulate local search results in its favor, thus stifling competition from smaller platforms like Yelp. The lawsuit follows a recent federal ruling that deemed Google a monopolist, with Yelp claiming that Google intentionally suppresses access to better-quality reviews on competing sites. Yelp seeks financial damages and a court order to halt Google's alleged anti-competitive practices.
Source: YAHOO
Reported about 1 month ago
J.D. Power has revised its U.S. electric vehicle sales forecast down to 9% for this year, citing a slower growth rate and increased competition from gasoline vehicles. This adjustment follows Ford's decision to abandon a planned electric SUV and delay the launch of an electric version of its popular F-150 pickup. Despite this slowdown, J.D. Power anticipates that EV sales will rise to 36% of the total U.S. retail market by 2030.
Source: YAHOO
Reported about 1 month ago
Yelp Inc. has filed a lawsuit against Google, claiming it holds an illegal monopoly in local search and advertising markets. This move comes shortly after a federal court ruled against Google for monopolistic practices. Yelp argues that Google's self-preferencing of its own reviews hinders competition, harming both consumers and businesses reliant on local search advertising. Google has dismissed Yelp's claims as baseless and plans to appeal the recent ruling.
Source: YAHOO
Reported about 1 month ago
SK Hynix has developed the first sixth-generation 10-nanometre DRAM chip, called 16Gb 1c DDR5, with over 9% improved power efficiency compared to its predecessor. This advancement can potentially reduce electricity costs in data centres by up to 30% amidst the ongoing AI boom. The company plans to begin mass shipments of this innovative chip next year.
Source: YAHOO
Reported about 1 month ago
Salesforce reported better-than-expected earnings, with a notable increase in sales across regions. CEO Marc Benioff highlighted new AI initiatives, including the upcoming launch of AgentForce, which aims to enhance customer service efficiency. Despite past struggles, the company remains optimistic about profitability and its future role in AI, contrasting with criticisms of Microsoft's approach.
Source: YAHOO
Reported about 1 month ago
China approved $4.61 billion in loans to Africa last year, marking the first increase since 2016, as Chinese lenders shift strategies to manage risks associated with indebted economies. This represents a significant rebound from 2022, influenced by projects like the Kaduna-to-Kano Railway in Nigeria. The study from Boston University's Global Development Policy Centre indicates China is focusing more on regional financial institutions and renewable energy projects, although lending patterns remain uncertain.
Source: YAHOO
Reported about 1 month ago
Nvidia's quarterly forecast failed to meet investor expectations, leading to a 6% drop in its shares and affecting other chip manufacturers. The company's growth rate remains strong at 122%, but the smaller-than-anticipated revenue forecast for the current quarter has raised concerns about the future of generative AI investments. Despite a $50 billion share buyback and a recent history of exceeding forecasts, the company faces scrutiny from regulators and investor jitters regarding the long-term viability of the AI market.
Source: YAHOO
Reported about 1 month ago
Nvidia's Q2 2025 earnings call revealed a record revenue of $30 billion, marking a 122% year-over-year increase, primarily driven by a 154% surge in Data Center revenue. The company highlighted strong demand for its Hopper architecture and anticipation for its upcoming Blackwell products, alongside growing applications in generative AI across various sectors. With the introduction of innovative AI tools and partnerships, Nvidia continues to expand its influence in the tech industry as it pushes for modernization of computing infrastructure.
Source: YAHOO
Reported about 1 month ago
Nvidia's stock dropped despite reporting impressive fiscal Q2 results, which included record revenues of $30 billion, a 122% year-over-year increase, and a resounding demand for its AI chips. Although the company delivered significant financial performance and announced robust cash flow and shareholder returns, investor concerns about the sustainability of its rapid growth led to a 7% decline in after-hours trading.
Source: YAHOO
Reported about 1 month ago
A report by Global Energy Monitor highlights that gas turbine manufacturers may be taking significant risks by investing heavily in hydrogen technology for energy production. Concerns arise regarding hydrogen's suitability for decarbonization, coupled with inadequate supply, pipeline infrastructure, and storage capacity. Major players in the market, such as GE Vernova and Siemens Energy, are focusing on flexible power generation that incorporates hydrogen, with Asia leading in capacity construction. However, experts warn that manufacturers might be misjudging the market, potentially leading to poor investment decisions.
Source: YAHOO
Reported about 1 month ago
Sumitomo Corp. has filed a debt restructuring plan with a UK court for its Ambatovy nickel and cobalt project in Madagascar. This plan aims to address equipment malfunctions and facilitate improvements, following an impairment of 89 billion yen ($617 million) on the asset. The company, which holds a 54% stake in the project, is responding to a significant drop in nickel prices due to increased supply from Indonesia.
Source: YAHOO
Reported about 1 month ago
Salesforce reported strong second-quarter earnings that surpassed analyst expectations, with positive guidance for the fiscal year boosting share prices. CEO Marc Benioff emphasized their impressive operating margins and profitability focus amidst slowing growth, while also announcing the departure of CFO Amy Weaver.
Source: YAHOO
Reported about 1 month ago
California's state Assembly has approved a contentious AI safety bill, SB 1047, aimed at requiring companies to prevent severe harm from their technologies. The legislation mandates rigorous safety measures and third-party testing for AI models, stirring both praise and opposition. Proponents argue it ensures public safety, while critics, including major tech firms and politicians, warn it may hinder state innovation in AI. The bill proceeds to the Senate for amendments before reaching Governor Newsom for final approval.
Source: YAHOO
Reported about 1 month ago
California has made significant progress in establishing the first major safety regulations for large artificial intelligence systems, with a bill that requires companies to test their models and disclose safety measures to prevent potential misuse. The proposal, which targets AI models trained on over $100 million of data, received a critical vote in the Assembly and awaits a final Senate vote before reaching Governor Gavin Newsom. Despite facing opposition from major tech companies and some lawmakers, supporters argue it sets essential standards as AI technology rapidly evolves.
Source: YAHOO
Reported about 1 month ago
Brazil's Supreme Court has given Elon Musk 24 hours to appoint a legal representative for his messaging platform X, or the service will be suspended in the country. This decision follows X's announcement of shutting down operations in Brazil due to alleged censorship. The court emphasizes adherence to Brazilian law regarding internet regulations and the protection of private information.
Source: YAHOO