BUSINESS

Google To Invest $2 Bn In Malaysia: Government

Google's investment comes after Microsoft said it would pump billions into Malaysia and other countries in Southeast Asia
The government said the cash would support 26,500 jobs across various sectors in Malaysia, including healthcare, education, and finance, and comes days after Prime Minister Anwar Ibrahim targeted at least $107 billion in investments for the semiconductor industry.

Pharma Firm Urged To Share New 'Game-changer' HIV Drug

Pharma firm Gilead has been called on to allow for generic versions of its new HIV drug
The drug Lenacapavir could be a "real game-changer" in the fight against HIV, according to an open letter to Gilead CEO Daniel O'Day signed by a range of former world leaders, AIDS groups, activists, actors and others.
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Nvidia says nations interested in building their own 'sovereign AI' are among the customers driving demand for its chips

Nvidia Profits Soar On Demand For AI Power

The California-based company reported a net profit of $14.9 billion, while its revenue of $26 billion was almost four times what it took in during the same fiscal quarter last year.
AFP news May 23, 2024
Defenders of digital currencies say regulators are stuck in the past

US Lawmakers Seek To Clean Up Crypto Regulation 'Food Fight'

The Republican-backed Financial Innovation and Technology for the 21st Century Act -- known as FIT21 -- would split responsibility for cryptocurrency regulation between the Securities and Exchange Commission and the Commodities Futures Trading Commission.
AFP news May 23, 2024
OpenAI and its chief executive Sam Altman have been making alliances with news organizations to get access to data needed to train generative artificial intelligence models to think as well as or better than people

News Corp Makes Deal To Let OpenAI Use Its Content

OpenAI will get access to current and archived content from News Corp properties including The Wall Street Journal, Barron's, MarketWatch, and The New York Post, according to a joint release.
AFP news May 23, 2024
News of sharply lower inflation sets the scene for this year's general election, as beleaguered British Prime Minister Rishi Sunak's Conservatives trail the main opposition Labour Party at opinion polls.

UK Inflation Slows To Near Three-year Low

Britain's annual inflation rate slowed to a near three-year low in April as energy prices cooled further, official data showed Wednesday, easing a cost-of-living crunch before this year's general election.
AFP news May 22, 2024
BHP's bid for Anglo American comes as it looks to secure a reliable copper supply

Crunch Time Looms For BHP's Bid Buy Anglo American

Any deal between two of the world's largest resources companies would fundamentally reshape the sector, with far-reaching consequences for commodities markets and the global energy transition.
AFP news May 20, 2024
Along with accessing 'subreddit' posts in real time, OpenAI will provide artificial intelligence powered features at Reddit under the terms of a new partnership

Reddit Gives OpenAI Access To Its Wealth Of Posts

Reddit, which debuted on the New York Stock Exchange earlier this year, has been seeking to capitalize on the value of exchanges in its varied discussion groups as it seeks to improve revenues.
AFP news May 17, 2024
Elon Musk has repeatedly used the letter X in the branding of his companies, starting in 1999 with his attempt to set up an online financial superstore called X.com.

Musk Confirms Twitter Has Become X.com

The billionaire head of Tesla, SpaceX and other companies bought Twitter for $44 billion in late 2022 and announced the rebrand to X last July.
AFP news May 17, 2024
The probe is the second looking into Meta's Facebook and Instagram under the EU's new Digital Services Act

EU Probes Facebook, Instagram Over Child Protection

The probe is under a mammoth law known as the Digital Services Act (DSA) that forces the world's largest tech firms to do more to protect European users online and clamp down on illegal content.
AFP news May 16, 2024
Siemens, whose products range from trains to factory equipment, announced a 38 percent fall in second-quarter net profit to 2.2 billion euros.

Siemens To Sell Electrical Motors Business To KPS

Innomotics, a subsidiary whose motors and other systems are used in a variety of industries including chemicals, oil, utilities and automotive, employs around 15,000 people.
AFP news May 16, 2024
Faced with numerous challenges in the wake of scandal and setback, Boeing is searching for a new CEO

Mission Impossible? Next Boeing CEO Faces Pile Of Problems

In the ensuing weeks, Boeing has endured troubling congressional hearings with whistleblowers and safety experts, repeat delays to a space launch, and a steep decline in commercial plane deliveries that has deepened financial losses.
AFP news May 16, 2024

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