(Reuters) – U.S. tech heavyweights, banks and oil majors extended losses on Friday after Beijing retaliated with additional duties of 34% on U.S. goods, amplifying investor concerns over an escalating global trade war that has stoked fears of a recession. Beijing’s tariffs are set to go into effect April 10. The country also announced controls…
BRUSSELS (Reuters) – Striking a trade deal with Latin America’s Mercosur bloc would be a “massive opportunity” for the European Union given uncertainties triggered by U.S. President Donald Trump’s decision to introduce a new round of tariffs, an EU spokesperson said on Friday. “We will be investing a lot of time and energy with member…
By Krystal Hu SandboxAQ, a startup drawing on quantum computing techniques to develop quantitative artificial intelligence models for enterprises, said it has raised $150 million from new investors including Google, Nvidia and BNP Paribas. The investment has increased SandboxAQ’s Series E round to $450 million, valuing the startup at $5.75 billion. With this, SandboxAQ’s total…
By Kalea Hall, David Shepardson DETROIT (Reuters) -Stellantis NV <STLAM.MI> said on Thursday it was temporarily laying off 900 workers at five U.S. facilities after President Donald Trump’s tariffs were announced, and temporarily pausing production at an assembly plant in Mexico and one in Canada. The maker of Ram trucks and Jeeps said the U.S….
By Hannah Lang (Reuters) – Some influential cryptocurrency executives are making a last-minute pitch to Congress to allow interest to be paid on U.S. dollar-pegged tokens as part of popular legislation establishing a regulatory framework for stablecoins. That lobbying effort has been met with mixed reactions from lawmakers, and has also raised concerns from financial…
(Reuters) – U.S. President Donald Trump’s 25% tariff on auto imports may cost American consumers more than $30 billion in higher vehicle prices and reduced car sales in the first full year, consultancy firm Anderson Economic Group said in a report on Thursday. WHY IT’S IMPORTANT Manufacturers are expected to bear some of the tariff…
(Reuters) – AI video startup Runway said on Thursday it had raised $308 million in a new funding round, led by private equity firm General Atlantic, to expand its new media ecosystem. The latest funding round valued the New York-based company at over $3 billion, Bloomberg reported, citing people familiar with the matter. Runway, however,…
By Gianluca Lo Nostro PARIS (Reuters) -Four of Europe’s biggest electric vehicle charging firms said on Wednesday they were teaming up to create the largest public charging network on the continent. Italy’s Atlante, Germany’s Ionity, the Netherlands’ Fastned and France’s Electra will create a new alliance called Spark aimed at sharing their networks. It will…
By Max A. Cherney and Stephen Nellis SAN FRANCISCO (Reuters) – Artificial intelligence group MLCommons unveiled two new benchmarks that it said can help determine how quickly top-of-the-line hardware and software can run AI applications. Since the launch of OpenAI’s ChatGPT over two years ago, chip companies have begun to shift their focus to making…
By Dawn Chmielewski (Reuters) – Amazon.com has put in a last-minute bid to buy TikTok, a U.S. administration official said on Wednesday, just days ahead of an April 5 deadline for the short-form video app to find a non-Chinese buyer or face a ban in the country. U.S. President Donald Trump is expected to discuss…
