By David Shepardson WASHINGTON (Reuters) – A bipartisan group of six senators and two members of the House of Representatives on Wednesday introduced legislation to protect Americans’ data from being used by U.S. adversaries. The bill is the latest in a series of proposals aimed at addressing concerns about the data of Americans using foreign-owned…
By Katie Paul (Reuters) – Two U.S. senators introduced legislation on Wednesday that would allow social media companies to be sued for spreading harmful material created with artificial intelligence. The law would open the door for lawsuits to proceed against social media companies for claims based on emerging generative AI technology, including fabricated but strikingly…
BERLIN (Reuters) -Volkswagen’s passenger car brand will implement savings and cost-cutting measures amounting to 10 billion euros ($10.83 billion) by 2026 to hit a return on sales target of 6.5%, a spokesperson said on Wednesday. Chief Financial Officer Arno Antlitz posted on LinkedIn earlier on Wednesday that the company would improve production efficiency across the…
By Leah Douglas (Reuters) -California’s Upside Foods said on Wednesday it received regulatory approval from the U.S. Department of Agriculture for the label on its cell-cultivated chicken, making it the second company in the United States to secure that approval. Several companies are seeking approval from U.S. regulators for cultivated meat and fish products, hoping…
OTTAWA (Reuters) – Canada, which has been renegotiating its support for a Stellantis-LGES electric vehicle battery plant, is confident that the investment is good for the country and “is coming,” Finance Minister Chrystia Freeland said on Wednesday, hinting that a new deal may have been reached. “We’re very confident in the value of the Stellantis…
By Emilio Parodi and Giulio Piovaccari MILAN (Reuters) -Italy bade farewell to four-times prime minister Silvio Berlusconi on Wednesday at a funeral befitting the business tycoon’s colourful life, with mourners bellowing football chants and politicians arguing over a day of national mourning. Crowds waving the flags of the AC Milan soccer club Berlusconi used to…
By Siddharth Cavale NEW YORK (Reuters) – Walmart’s Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer’s chief financial officer said on Wednesday at an investor conference. Walmart does not break out sales of Flipkart and PhonePe but over the past few months, executives have…
By Carolina Mandl and Davide Barbuscia NEW YORK (Reuters) – BlackRock Inc chairman and Chief Executive Officer Larry Fink said on Wednesday he is not planning to leave the world’s biggest asset manager “any time soon,” while his team unveiled plans for revenue growth. Fink, 70, said he has no plans to retire, but BlackRock…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) – European shares rose on Wednesday, supported by banks and miners, ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve. The pan-European STOXX 600 index closed 0.4% higher. Banks, which tend to benefit from higher rates, rose 1.1%. Italy and Spain’s…
MEXICO CITY (Reuters) – The former chief executive of SoftBank Group International, Marcelo Claure, on Wednesday launched a fund focused on Latin America with initial commitments of around $440 million. The fund, named Bicycle I from growth equity firm Bicycle Capital, targets a total size of $500 million and aims to partner with startups across…
