Business

By Isabelle Yr Carlsson and Maggie Fick COPENHAGEN/LONDON (Reuters) – Obesity drug-maker Novo Nordisk will spend $4.1 billion to build a U.S. facility to fill injection pens for its hugely popular weight-loss treatment Wegovy and diabetes drug Ozempic, it said on Monday. Construction of the plant at Novo’s existing main U.S. manufacturing site in Clayton, North Carolina, will be completed between 2027 and 2029, and will add 1,000 workers to the 2,500 already employed there, … Read more…

By Andrew Mills DOHA (Reuters) – Nvidia has signed a deal to deploy its artificial intelligence technology at data centres owned by Qatari telecoms group Ooredoo in five Middle Eastern countries, Ooredoo’s CEO told Reuters.     The agreement marks Nvidia’s first large-scale launch in a region to which Washington has curbed the export of sophisticated U.S. chips to stop Chinese firms from using Middle Eastern countries as a back door to access the newest AI technology. … Read more…

(Reuters) -Facebook parent Meta Platforms has discussed integrating Meta’s generative AI model into Apple Inc’s recently announced AI system for iPhones, the Wall Street Journal reported on Sunday. Apart from Google and Meta, AI startups Anthropic and Perplexity have also been in discussions with Apple to bring their generative AI to Apple Intelligence, the Journal reported, citing people familiar with the matter. Apple, Meta, Perplexity and Anthropic did not respond immediately to requests for comment … Read more…

(Reuters) – Under Armour said on Friday it would settle a 2017 shareholder class action lawsuit that accused the apparel maker and CEO Kevin Plank of intentionally misleading them about the company’s financial health. Under Armour said it intends to pay the settlement amount of $434 million through cash on hand as well as by drawing on its $1.1 billion revolving credit facility. Under Armour added it has consistently denied the accusations and entered into this agreement … Read more…

WASHINGTON (Reuters) – The United States slapped sanctions on 12 people in senior leadership roles at AO Kaspersky Lab on Friday, citing cybersecurity risks a day after the Biden administration announced plans to bar the sale of the Russian company’s antivirus software. The sanctions targeted company leadership including the chief business development officer, chief operating officer, legal officer, corporate communications chief and others. The Treasury Department did not designate Kaspersky Lab, its parent or subsidiary … Read more…

By Foo Yun Chee BRUSSELS (Reuters) – Apple will delay launching three new artificial intelligence features because landmark European Union tech rules require it to ensure that rival products and services can function with its devices, the U.S. tech group said on Friday. Apple underscored its AI push earlier this month with a slew of new features and software enhancements for its iPhone and other devices to bolster sagging sales. It said Apple Intelligence, which … Read more…

By Shariq Khan and Seher Dareen NEW YORK (Reuters) – U.S. refiners pumped out jet fuel last week at the fastest pace since the pandemic, government data showed, as they look to keep up with forecasts of record air travel this summer. U.S. refiners’ net production of jet fuel hit about 1.9 million barrels per day (bpd) last week, 8% higher than the same time last year and the highest weekly total since January 2020, … Read more…

By Jeffrey Dastin (Reuters) – Anthropic, a startup backed by Google and Amazon.com, on Thursday released an updated artificial intelligence model and a new layout to boost user productivity, continuing an industry sprint to push technology’s frontier. Three months after rolling out its Claude 3 family of AI models, Anthropic said it was launching Claude 3.5 Sonnet. Compared with Claude 3 Opus – which CEO Dario Amodei in March called the “Rolls-Royce of models” – … Read more…

(Reuters) – Oracle on Thursday said it will invest more than $1 billion over the next 10 years in artificial intelligence and cloud computing in Spain, as it looks to meet increasing demand for its services in the country. The investment will be used to set up a new cloud region that will allow customers to move workloads from their data centers to Oracle Cloud Infrastructure, while also helping them address regulations like the European … Read more…

(Reuters) – Apple has suspended work on its next high-end Vision headset, the Information reported on Tuesday, citing an employee at a manufacturer that makes key components for the Vision Pro. The iPhone maker is still working on releasing a more affordable Vision product with fewer features before the end of next year, the report said, citing a person involved in its supply chain and one person in the manufacturing of the headsets. Apple did … Read more…