Year: 2023
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Explainer-What’s next for the EU AI Act?
By Supantha Mukherjee, Martin Coulter and Foo Yun Chee STOCKHOLM/BRUSSELS/LONDON (Reuters) – European Union countries and lawmakers last week agreed a provisional deal for artificial intelligence rules aimed at establishing guardrails for the rapid development of AI and setting a global standard in technology regulation. The long road to the EU AI Act started in…
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Disney prepares for bitter battle as activist Peltz seeks two board seats
By Dawn Chmielewski and Svea Herbst-Bayliss (Reuters) -Walt Disney is bracing for a bitter proxy battle as activist investor Nelson Peltz nominated himself and an ally to Disney’s board, his second attempt this year to gain sway over the company’s strategy. The looming battle comes at a pivotal time for Disney, as the company is…
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Germany lifts spending freeze after budget deal clinched, document shows
BERLIN (Reuters) – Germany’s finance ministry has lifted a freeze on new spending that was imposed more than three weeks ago, according to a letter seen by Reuters on Thursday. The move comes a day after Germany’s government clinched a last-minute deal on its 2024 budget following weeks of tense talks. The letter dated Dec.…
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Musk’s X receives Pennsylvania money license in push toward payment features
By Sheila Dang and Pete Schroeder (Reuters) – Elon Musk’s social media platform X, formerly known as Twitter, took a step closer to offering payment features after receiving a money-transmitter license from a 13th U.S. state this week. The approval by Pennsylvania, which occurred on Monday according to a public licensing database, has not been…
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Wyndham franchisees question possible Choice merger, association says
By Doyinsola Oladipo NEW YORK (Reuters) – A major U.S. hotel owners association said its Wyndham Hotels & Resorts franchisee members are worried an acquisition by budget operator Choice Hotels International could hurt their business. Choice on Tuesday launched a hostile bid for Wyndham to bring Wyndham to the negotiating table. The deal, initially valued…
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Nordic investors urge Tesla to back down in Swedish labour dispute
STOCKHOLM (Reuters) -A group of Nordic institutional investors said in a letter to Tesla on Thursday they were deeply concerned by the conflict between the company and labour unions in Sweden, and asked it to reconsider its approach to collective bargaining. Tesla is facing a backlash from unions and some pension funds in the region…
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Etsy shares dive after e-commerce company cuts workforce
By Chibuike Oguh NEW YORK (Reuters) – Shares of Etsy Inc dropped on Wednesday after the e-commerce platform announced it would slash 11% of its workforce as it seeks to cut costs, pressured by weakening demand for handcrafted goods. Etsy will lay off 225 people, about 11% of total staff, and will incur financial charges…
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Tesla recalls nearly all vehicles on US roads over lack of Autopilot safeguards
By David Shepardson WASHINGTON (Reuters) -Tesla is recalling over 2 million vehicles in the U.S. to install new safeguards in its Autopilot advanced driver-assistance system, after a federal safety regulator cited safety concerns. The largest-ever Tesla recall appears to cover nearly all vehicles on U.S. roads to better ensure drivers pay attention when using the…
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Explainer-What does Argentina’s ‘shock therapy’ economic package involve?
By Valentine Hilaire (Reuters) – Argentina’s government under libertarian President Javier Milei has unveiled a “shock therapy” economic plan, a radical and likely painful blueprint to stabilize the South American country’s economy which faces its worst crisis in decades. The plan included a devaluation of the peso currency by more than 50%, which took effect…
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Disney, Comcast increase US ad spending on Instagram after dropping Musk’s X – report
By Jaspreet Singh (Reuters) – Big U.S. companies including Walt Disney and Comcast increased advertising spending on Instagram after pausing commercials on X last month, according to Sensor Tower, as marketers flee the Elon Musk-owned social media platform over antisemitic content. Disney and Comcast lifted their U.S. spending on the app owned by Meta by…