SYDNEY (Reuters) – The Australian government said on Tuesday it would limit tax breaks for members with pension balances of more than A$3 million ($2 million) in the face of mounting pressure on the federal budget and protracted deficits. The decision comes just days after the centre-left Labor government launched a consultation on reforming superannuation…
By Kantaro Komiya TOKYO (Reuters) -Japan’s factory output shrank at the fastest pace in eight months in January as declining overseas demand took a heavy toll on key industries such as auto and semiconductor equipment. In contrast, retail sales posted their fastest growth in nearly two years, separate data showed, highlighting the divergent paths between…
(Reuters) – Elon Musk has approached AI researchers in recent weeks about forming a new research lab to develop an alternative to ChatGPT, the Information reported on Monday, citing people with direct knowledge of the effort. (Reporting by Yana Gaur in Bengaluru; Editing by Rashmi Aich)
By Lucia Mutikani WASHINGTON (Reuters) – New orders for key U.S.-manufactured capital goods increased by the most in five months in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter. Some of the larger-than-expected rise in core capital goods orders…
By Helen Coster and Jack Queen (Reuters) – Fox Corp Chairman Rupert Murdoch acknowledged under oath that some Fox hosts “endorsed” the notion that the 2020 U.S. presidential election was stolen, according to a court filing unsealed Monday. Documents in the case in Delaware State Court show Murdoch and other Fox executives believed Joe Biden…
(Reuters) -Meta Platforms Inc is creating a new top-level product group focused on generative artificial intelligence (AI), Chief Executive Mark Zuckerberg said on Monday, as the AI race among Big Tech firms heats up. AI has emerged as a bright spot for investments in the tech industry, which has been struggling with slowing growth, and…
(Reuters) – Zoom Video Communications Inc on Monday forecast annual revenue below Wall Street estimates, as demand for its video-conferencing services slows down in the face of economic uncertainty. The company expects revenue between $4.44 billion and $4.46 billion for fiscal 2024, compared with analysts’ average estimate of $4.6 billion, according to Refinitiv IBES data….
(Reuters) – The U.S. Federal Trade Commission is expected to challenge Intercontinental Exchange Inc’s $13 billion deal for mortgage software company Black Knight, Politico reported on Monday citing three people with direct knowledge of the matter. (Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
BRASILIA (Reuters) – The Brazilian government is set to resume the collection of federal taxes on fuels this week, the Finance Ministry said on Monday. According to the ministry, the tax revenues from fuels will be 100% recovered with the end of the waiver. The rate on fossil fuels will be higher than biofuels, as…
WASHINGTON (Reuters) – Standard General on Monday said it would press on with its plan to buy television station operator Tegna for $5.4 billion despite a decision by the Federal Communications Commission Media Bureau to hold hearings on the proposed deal. Hedge fund Standard General said the decision to hold hearings was “tantamount to denying”…
