U.S. June budget deficit shrinks to $66 billion after calendar shifts

WASHINGTON (Reuters) – The U.S. government recorded a $66 billion budget deficit for June that was reduced sharply by a shift of benefit payments into May that ballooned that month’s deficit to $347 billion, the Treasury Department said on Thursday. The Treasury said that the $66 billion June deficit nominally fell 71% from the $228 billion deficit recorded in June 2023. Without the June calendar adjustments in both years, the Treasury said the June 2024 … Read more…

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Samsung bolsters AI in foldable phones, health monitoring in smartwatch, ring

By Joyce Lee SEOUL (Reuters) – Samsung Electronics unveiled its latest foldable smartphones on Wednesday, making its priciest flagship model lighter and slimmer and bolstering AI functions as it challenges Apple’s dominance in the premium market. Samsung is also offering more sophisticated health monitoring functions to drive new demand for accessories such as its smartwatch, as well as a new ring for easy health monitoring and screen control. The world’s largest smartphone maker pioneered the … Read more…

Google parent Alphabet shelves interest for HubSpot, Bloomberg News reports

(Reuters) -Google-parent Alphabet has abandoned its plans to buy online marketing software company HubSpot, Bloomberg News reported on Wednesday, citing people familiar with the matter. HubSpot shares fell nearly 12% in afternoon trading while Alphabet shares were up 1.2%. In April, Reuters had reported, citing sources, that Alphabet was in talks with advisers about making an offer for HubSpot. Alphabet had communicated its interest in a potential deal with HubSpot earlier this year, but the … Read more…

Musk’s Neuralink working on new brain implant device

(Reuters) -Neuralink, Elon Musk’s brain-chip company, is working on a new device that it believes will require half the number of electrodes to be implanted in the brain to make it more efficient and powerful, the company’s executives said. The company is also taking risk mitigation measures such as skull sculpting and reduce the carbon dioxide concentration in the blood to normal level in patients, the executives said in a live stream on social media … Read more…

Global lithium sector eyes Argentina’s salt flats on tech test run

By Daina Beth Solomon and Ernest Scheyder SALAR CENTENARIO, Argentina (Reuters) – In a dusty plain in northern Argentina’s mountains, black tubes stretching two stories high fill a massive tank with salty brine sucked from deep below ground. The brine contains lithium, a silvery white metal essential for making electric vehicle batteries and in high demand as the world shifts to green energy. French miner Eramet is attempting to use an innovative technique, known as … Read more…

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Musk’s xAI, Oracle end talks on $10 billion server deal, The Information reports

(Reuters) -Billionaire Elon Musk’s artificial intelligence startup xAI and tech giant Oracle have ended talks on a potential $10 billion server deal, The Information reported on Tuesday. The startup and Oracle have ended talks to expand an existing arrangement under which xAI has been renting Nvidia’s AI chips from the cloud provider, the report said, citing several people involved in the talks. The AI startup is building a system using Nvidia’s H100 graphics processing units … Read more…

Chile will consider 81 lithium projects proposals from private sector

SANTIAGO (Reuters) – Chilean officials on Tuesday said they will consider 81 proposals for lithium projects across the South American country, putting the country on track to surpass a goal of launching four new projects by the end of 2026. Chile in April called for proposals in more than two dozen salt flats that contain the battery metal, in line with the government’s aims to boost production. It is currently the world’s No. 2 producer. … Read more…

Nasdaq and S&P 500 hit records, fueled by Nvidia

By Noel Randewich and Lisa Pauline Mattackal (Reuters) -The S&P 500 and Nasdaq hit record highs on Tuesday, propelled by gains in Nvidia and other megacaps after U.S. Federal Reserve Chair Jerome Powell told lawmakers that more “good” economic data would strengthen the case for rate cuts. AI heavyweight Nvidia climbed 1.4%, offsetting declines in other chip stocks, leaving the S&P 500 and Nasdaq with marginal gains for the session. Microsoft dipped 1.4%, leaving the … Read more…

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NATO agency orders Stinger anti-aircraft missiles for $700 million, Stoltenberg says

WASHINGTON (Reuters) – NATO has placed an order for Stinger anti-aircraft missiles worth almost $700 million dollars in the name of several member states, the alliance’s Secretary-General Jens Stoltenberg said on Tuesday. “Just today, the (NATO procurement agency) NSPA signed a new multinational contract for Stinger missiles worth almost 700 million dollars,” he told a gathering of defence industry leaders on the sidelines of the NATO summit in Washington. (Reporting by Sabine Siebold and Mike … Read more…

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Exclusive-Satellite photos show Iran expanding missile production, sources say

By Jonathan Landay and Parisa Hafezi WASHINGTON/DUBAI (Reuters) – Recent satellite imagery shows major expansions at two key Iranian ballistic missile facilities that two American researchers assessed are for boosting missile production, a conclusion confirmed by three senior Iranian officials. The enlargement of the sites follows an October 2022 deal in which Iran agreed to provide missiles to Russia, which has been seeking them for its war against Ukraine. Tehran also supplies missiles to Yemen’s … Read more…

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