Category: Business
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Google aims to relaunch Gemini AI image tool in a few weeks
By Joan Faus BARCELONA (Reuters) -Google plans to relaunch in the next few weeks its AI tool that creates images of people, which it paused last week after inaccuracies in some historical depictions, Google DeepMind CEO Demis Hassabis said on Monday. Alphabet’s Google began offering image generation through its Gemini AI models earlier this month.…
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Analysis-Top global energy traders face multi-billion cash quandary
By Dmitry Zhdannikov and Julia Payne LONDON (Reuters) – As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their…
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Global equity funds see outflows amid inflation concerns
(Reuters) – Investors reduced their holdings in global equity funds in the seven days up to Feb. 21 as unexpected robust inflation data tempered expectations for an imminent Federal Reserve rate cut. According to data from LSEG, investors sold global equity funds of a net $2.64 billion during the week after about $10.32 billion worth…
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Investors still flock to cash as stocks hit record highs
LONDON (Reuters) – Investors poured cash into money market funds at the fastest pace on record in the first weeks of the year, and funnelled another $15 billion into equities in the week to Wednesday, Bank of America Global Research said on Friday. The BofA report showed the equity market rally is broadening beyond the…
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Beer time? Investors tempted by brewers as spirits sales falter
By Emma Rumney LONDON (Reuters) -Investors are warming to beer stocks as a relatively cheap way to benefit from growth in alcohol brands, particularly in emerging markets, as easing cost pressures help brewers close the gap on the spirits giants that have outshone them for years. While spirits companies enjoyed record growth during a post-pandemic…
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AT&T restores service after hours of outage
By Aditya Soni and David Shepardson (Reuters) -AT&T said late on Thursday an outage that disrupted calls and text messages for thousands of U.S. users and prompted federal investigations was not caused by a cyberattack. The carrier had restored wireless service for all affected customers, several hours after an outage that affected more than 70,000…
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Rising credit card interest costs consumers extra $25 billion, CFPB says
(Reuters) -The Consumer Financial Protection Bureau (CFPB) said on Thursday credit card companies’ interest on loans was at an all-time high, costing customers about $25 billion extra each year. Typically, the interest on credit card debt comprises borrowing cost determined by the U.S. Federal Reserve and an additional rate charged by the lender. The additional…
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EV sector grapples with layoffs, production cuts and altered plans
By Akash Sriram (Reuters) – A global slowdown in electric-vehicle demand is rippling through the industry, costing jobs and leading to changes in strategic plans, layoffs and production cuts, suggesting pain in the near term could slow the transition away from gasoline-powered combustion engines. On Thursday, German luxury carmaker Mercedes toned down expectations on EV…
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Aerospace giants form coalition to stop unauthorized parts from entering supply chain
(Reuters) – Aerospace giants including Airbus, Boeing and GE Aerospace on Thursday announced the formation of a coalition that would aim to prevent unauthorized parts from entering the global supply chain. The move comes after jet engine maker CFM International, co-owned by GE Aerospace and France’s Safran, last year said thousands of engine components may…
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Google upgrades AI product for advertisers with Gemini models
By Sheila Dang (Reuters) – Alphabet’s Google said on Thursday it will integrate its Gemini artificial intelligence models into an existing product for advertisers, bringing its advanced AI capabilities to more of the tech giant’s customers. The integration is part of an ongoing effort by Google to infuse generative AI, which can produce conversational text…