By Anna Tong SAN FRANCISCO (Reuters) – In a frenzy unseen since the birth of social media in the early 2000s, investors are pouring billions into generative AI and fueling a startup boom in San Francisco. At the same time, they are fueling hopes that the nascent AI sector will help revive the city’s decaying downtown…
By Steve Holland and Essi Lehto HELSINKI (Reuters) – President Joe Biden on Thursday gave his assurance that the United States would stay committed to NATO despite “extreme elements” of the Republican Party, in remarks during a visit to Finland to welcome it as the alliance’s latest member. “I absolutely guarantee it,” Biden told a…
By David Lawder WASHINGTON (Reuters) – The U.S. government posted a $228 billion budget deficit for June, up 156% from a year earlier as revenues continued to weaken and July benefit payments were accelerated into June, the U.S. Treasury Department said on Thursday. The deficit compares to a June 2022 budget gap of $89 billion….
(Reuters) -COVID vaccine makers should price their updated shots for the fall at a reasonable rate that would reflect the benefits they received through government investments, the U.S. Department of Health and Human Services (HHS) said on Thursday. The U.S. government will also launch a $1 billion “Bridge Access Program” for this fall, to help…
By Borja Suarez LA PALMA, Spain (Reuters) – Living in rows of look-alike makeshift homes as hardened black lava covers the once-bucolic valleys where they used to dwell, many residents of the Spanish island of La Palma feel resentment and yearn for political change in this month’s general election. The eruption of the Cumbre Vieja…
By Diane Bartz and David Shepardson WASHINGTON (Reuters) -Lina Khan, the progressive head of the U.S. Federal Trade Commission (FTC), faced tough questions on Thursday from a Republican-led House committee about court fights over multi-billion dollar mergers the agency opposed and lost. The hearing before the House Judiciary Committee came just two days after a…
(Reuters) – Goldman Sachs will report its worst quarterly earnings in years next week, with a return on equity in the low single digits, Semafor reported on Thursday citing people familiar with the matter. Writedowns on Goldman’s GreenSky consumer-lending business and on holdings of commercial real estate, are likely to exceed $2 billion, the report…
By Sarah N. Lynch WASHINGTON (Reuters) -The U.S. Justice Department on Thursday launched a civil rights probe into conditions at the Fulton County jail in Atlanta, Georgia that will examine whether the facility is discriminating against incarcerated people with mental illnesses, a top department official said on Thursday. The probe will examine a wide range…
By Aidan Lewis CAIRO (Reuters) -Egypt on Thursday embarked on a fresh bid to halt fighting between Sudan’s warring factions and contain the humanitarian crisis it has unleashed, using a summit of neighbouring states to try to revive international efforts to contain the war. The leaders of Sudan’s seven neighbours in a joint statement called…
WASHINGTON (Reuters) -U.S. President Joe Biden will meet Israeli President Isaac Herzog at the White House on Tuesday when they will discuss Israel’s regional integration and Russia’s military ties with Iran, the White House said on Thursday. “Biden will stress the importance of our shared democratic values, and discuss ways to advance equal measures of…
