Iran Threatens Gulf Technology Firms, Announces Plans for Data Authority By The Media Line Staff Iranian Parliament Speaker Mohammad Bagher Ghalibaf warned Gulf governments and investors on Sunday, October 18, against providing financial or logistical support to artificial intelligence companies tha
Oct 19 (Reuters) – Australia’s Ampol on Monday cut its fourth-quarter output forecast for higher-value products at its Lytton refinery after bringing forward maintenance work, overshadowing a surge in third-quarter refining margins and sending its shares lower. The country’s top fuel retailer said a
By Kevin Yao BEIJING, Oct 19 (Reuters) – China’s economy likely sped up slightly in the third quarter from a more than three-year low, helped by hot demand for the country’s technological goods and fresh policy support, but further stimulus may be needed to sustain the momentum. Beijing has leaned h
By Florence Tan SINGAPORE, Oct 19 (Reuters) – Oil prices slipped on Monday after US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports. Brent crude futures fell $1.94, or 1.77%, to $107.92 a barrel by 0227 GMT after settling at its highest since
Oct 19 (Reuters) – A unit of Japan’s Daiichi Life has made an indicative proposal to buy more than 79% of shares in Australian investment manager Challenger it does not already own, Challenger said on Monday. Shares of the Australian firm jumped over 15% to A$11.33 by 2305 GMT, hitting their highest
Oct 18 (Reuters) – Anthropic said on Sunday it will commit 5% of its shares to a new public benefit fund, subject to stockholder approval, with the stake potentially increasing as the artificial intelligence giant’s valuation grows. The proposed fund would be established as a wholly owned limited li
By Amanda Stephenson FORT MCMURRAY, Alberta, Oct 18 (Reuters) – Canada’s Prime Minister Mark Carney is betting a new pipeline can help revive the country’s oil industry, boost its production and exports, and reduce its dependence on the United States. Bringing back jobs will be much harder. In the A
By Andrea Shalal and David Lawder BANGKOK, Oct 19 (Reuters) – Last week’s meetings of the International Monetary Fund and World Bank yielded no new answers for the developing world to the questions posed by a spreading Middle East war, continuing war in Ukraine, rising debt payments and a potential
By Colleen Howe BEIJING, Oct 18 (Reuters) – China has proposed export controls on 12 technologies used to make solar equipment, citing national security concerns, as part of a broader revision that also covers AI and biotechnology. The ministry of commerce proposed adding the photovoltaic technologi
By David Lawder BANGKOK, Oct 17 (Reuters) – Rapidly improving artificial intelligence capabilities will bring far faster change across all fields, Anthropic co-founder Jack Clark said on Saturday, with one of the company’s internal models forecasting that under certain conditions it could increase U
(New York, NY) — Wall Street is closing in the red to end the week. Stocks slid as the AI selloff pressured markets. Chipmakers including Micron, AMD and Sandisk fell sharply as investors rotated out of artificial intelligence-related shares. At the closing bell, the Dow Jones Industrial Average los
Oct 16 (Reuters) – Air traffic controllers have reached a deal with the FAA for a 2.8% pay increase, the Wall Street Journal reported on Friday, citing people familiar with the matter. In exchange for the pay increase, controllers will now have to badge in and out as a way to prevent early departure
By Tim Hepher Oct 16 (Reuters) – Boeing jetliner sales chief Brad McMullen is retiring in December and will be succeeded in one of the industry’s most high-profile jobs by Ryan Weir, currently in charge of the North American market, according to a memo seen by Reuters. McMullen, senior vice presiden
By Mike Scarcella Oct 16 (Reuters) – A US appeals court threw out on Friday an order allowing Tesla customers in California to pursue class action claims accusing the electric vehicle maker of misleading them about the capabilities of its full self-driving technology. In its ruling, a three-judge pa
Oct 16 (Reuters) – Air Canada on Friday said it will launch new trans-border routes in partnership with United Airlines for summer 2027, expanding non-stop access to US destinations and enhancing connections across the country. The carrier will launch services from Toronto to Louisville, Montreal to
MEXICO CITY, Oct 16 (Reuters) – Mexico said on Friday that a new five-year tariff break for imported car parts will apply only to automakers that already have production facilities in the country. The clarification comes several days after industry analysts raised questions about the decree’s potent
By David Shepardson and Dan Catchpole WASHINGTON, Oct 16 (Reuters) – The Federal Aviation Administration is set to approve the long-delayed Boeing 737 MAX 10 as soon as next week, after completing a key safety review on Friday, three people familiar with the matter said. The review by the Type Certi
By Philip Blenkinsop BRUSSELS, Oct 16 (Reuters) – The European Commission will propose curbs on imports from China going beyond the safeguard measures it agreed with Beijing to halve inbound shipments of Chinese hybrid cars, European Commission President Ursula von der Leyen said on Friday. Von der
By Pritam Biswas, Arasu Kannagi Basil and Prakhar Srivastava Oct 16 (Reuters) – A clutch of US regional banks reported strong third-quarter earnings this week, powered by robust loan demand from businesses, adding to signs that the economy remained resilient despite rising borrowing costs. Earlier i
Oct 16 (Reuters) – KFC’s decision to switch from Pepsi sodas to Coca-Cola at its US restaurants could raise questions about PepsiCo’s other longstanding food service partnerships, analysts said, even as they expect the financial hit to be manageable. The loss of KFC comes as PepsiCo grapples with sl
Oct 16 (Reuters) – Private credit’s expanding role in financing AI infrastructure faced one of its clearest market tests this week as CoreWeave’s bonds fell to distressed levels, raising questions about how lenders are pricing a boom built on chips, data centres and customer contracts. CoreWeave has
By Michael S. Derby Oct 16 (Reuters) – Service sector business leaders reported widespread pricing woes in October and a downbeat outlook for activity, according to a report released Friday by the Federal Reserve Bank of New York. “The pace of input price increases remained sharp, and selling price
Oct 16 (Reuters) – Railroad operator Union Pacific said on Friday its Chief Financial Officer Jennifer Hamann will retire in early 2027, after 35 years with the company. • Hamann was appointed CFO in January 2020, making her the first woman to hold the role at Union Pacific • She joined Union Pacifi
Oct 16 (Reuters) – Wall Street’s main indexes opened largely muted on Friday as worries about cracks in the AI trade pressured semiconductor stocks, while gains in Tesla provided some support. The Dow Jones Industrial Average rose 130.6 points, or 0.25%, at the open to 52,308.28. The S&P 500 rose 1.
By Andrea Shalal BANGKOK, Oct 16 (Reuters) – The head of the IMF on Friday appealed to global leaders to cooperate in the face of multiple economic risks, including rapid advances in AI and a prolonged war in the Middle East, as Washington hailed what it sees as US-led economic momentum. Their contr
By Sheila Dang Oct 16 (Reuters) – ExxonMobil signaled on Friday that higher refining margins during the third quarter could boost its downstream profit by $4.5 billion compared with the previous three months. Refining margins have soared due to the ongoing Iran war, which has restricted energy expor
By Lucia Mutikani WASHINGTON, Oct 16 (Reuters) – US import prices increased more than expected in September, boosted by higher costs for energy products and a range of other goods, further evidence of rising inflation pressures as the Middle East conflict persists. The report from the Labor Departme
By Tharuniyaa Lakshmi and Purvi Agarwal Oct 16 (Reuters) – The benchmark S&P 500 was muted on Friday as worries about cracks in the AI trade pressured semiconductor stocks, while gains in banks limited overall declines. The S&P 500 information technology was the biggest drag on the index, down 0.9%.
By Paul Sandle and Yadarisa Shabong LONDON, Oct 16 (Reuters) – Britain’s competition watchdog proposed designating Microsoft with “strategic market status” in business software, potentially paving the way for interventions in how the US tech major bundles products such as Excel, Teams and its Copilo
Oct 16 (Reuters) – Global equity funds drew inflows for a fourth straight week through October 14 as a pullback in Treasury yields from near 2½-decade highs and hopes for strong earnings lifted sentiment, though investors pulled money from technology funds amid concerns over rising debt in the secto
