US aircraft carrier arrives in South Korea for military drills

SEOUL (Reuters) – A nuclear-powered U.S. aircraft carrier, the Theodore Roosevelt, arrived in the South Korean port city of Busan on Saturday to take part in joint military exercises later this month with the host nation and Japan, naval officials said. The leaders of the three countries agreed at a summit last August to hold annual military training drills as they sought to project unity in the face of China’s growing power and nuclear threats … Read more…

Categories Uncategorized

Nvidia to launch in Middle East amid U.S. curbs on AI exports to region, Ooredoo CEO says

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…

Apple and Meta have discussed AI partnership, WSJ reports

(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…

Biden, Trump prep for presidential debate that will highlight mental fitness

By Nathan Layne and Trevor Hunnicutt (Reuters) – President Joe Biden is hunkered down with aides at Camp David for several days to get ready to debate rival Donald Trump, who is eschewing traditional preparation and instead holding informal policy discussions between campaign stops. The face-off in Atlanta, at 9 p.m. ET on Thursday (0100 GMT on Friday), will be the earliest presidential debate in modern U.S. history and a critical event for both candidates. … Read more…

Categories Uncategorized

S&P, Nasdaq end lower as Nvidia drags the tech sector for second day

By Echo Wang (Reuters) -The S&P 500 and Nasdaq closed marginally lower on Friday, weighed down by a decline in Nvidia shares for a second straight day, which dragged down the technology sector. Technology was the biggest loser among the 11 major S&P 500 sectors, down 0.84%, weighed by Nvidia, while communication services led the gain. “It’s Nvidia’s game, and the rest of us are just pretending to be here,” said Michael Green, chief strategist … Read more…

Categories Uncategorized

Under Armour to pay $434 million to settle 2017 lawsuit

(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…

US imposes sanctions on Russia’s AO Kaspersky Lab executives over cyber risks

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…

Apple to delay launch of AI-powered features in Europe, blames EU tech rules

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…

Tesla tells judge that shareholder vote should reverse Musk pay ruling

By Tom Hals WILMINGTON, Delaware (Reuters) – A Delaware judge should recognize a vote by Tesla shareholders in favor of Elon Musk’s $56 billion pay package and reverse her January ruling that voided the compensation, the company said in a filing that was made public on Friday. In addition, Chancellor Kathaleen McCormick should not consider a request for a record $6 billion legal fee by the lawyers that led the case against Musk’s 2018 pay … Read more…

Categories Uncategorized

Fisker heads toward liquidation as creditors fight over assets

By Dietrich Knauth NEW YORK (Reuters) – Electric vehicle startup Fisker is headed towards a liquidation, attorneys said in U.S. bankruptcy court on Friday, as two creditor factions previewed a battle over which group will be paid first. Fisker filed for bankruptcy protection in Delaware on Monday after burning through cash in an attempt to ramp up production of its Ocean SUVs. The company initially said it would seek additional financing and continue “reduced operations,” … Read more…

Categories Uncategorized