By Rachel Nostrant (Reuters) – The U.S. Powerball jackpot has reached a whopping $1 billion for only the third time in the game’s history after another Monday night drawing produced no winning ticket. The Monday drawing was the 38th in a row without someone winning the top prize, which increases every time the jackpot goes…
By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistan must continue its monetary tightening cycle, the International Monetary Fund (IMF) said in a staff report on Tuesday, a week after the lender approved a new bailout arrangement and less than two weeks before the country’s central bank holds its next policy meeting. “The recent policy rate…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s annual inflation rate dropped more than expected to a 27-month low of 2.8% in June led by lower energy prices, data showed on Tuesday, though food and shelter cost increases persisted despite 10 interest rate hikes in less than 18 months. Analysts polled by Reuters had…
By Katie Paul NEW YORK (Reuters) -Meta is releasing a commercial version of its open-source artificial intelligence model Llama, the company said on Tuesday, giving start-ups and other businesses a powerful free-of-charge alternative to pricey proprietary models sold by OpenAI and Google. The new version of the model, called Llama 2, will be distributed by…
OTTAWA (Reuters) – The Canadian government, under pressure over images showing asylum seekers sleeping on the streets of Toronto, on Tuesday said it would give the city an extra C$97 million ($73.6 million) to help meet the demand for housing. The money is part of a C$212 million ($160.9 million) one-time injection to help major…
By Lisa Richwine LOS ANGELES (Reuters) – Major film and television studios offered Hollywood actors more than $1 billion in higher compensation and enhanced benefits before the SAG-AFTRA union called a strike last week, a group that represents media companies said on Monday. The Alliance of Motion Picture and Television Producers (AMPTP), which negotiates on…
(Reuters) – Warner Music Group, the record label conglomerate behind artists such as Radiohead, AC/DC and Madonna, has signed a licensing deal with Chinese short-video app TikTok to boost its social media revenues. The multi-year deal will help Warner Music’s artists and songwriters unlock new revenue and marketing opportunities from TikTok’s more than 1 billion…
(Reuters) -U.S. drugmaker Pfizer and venture firm Flagship Pioneering on Tuesday said they would invest $100 million together to develop up to 10 new potential drugs for areas including internal medicine, oncology, infectious diseases and immunology. Flagship, which has incubated biotech companies, most famously Moderna Inc , and Pfizer will each invest $50 million. Flagship’s…
ODESA, Ukraine (Reuters) – U.S. aid chief Samantha Power on Tuesday pledged $250 million in new funding to help Ukrainian farmers reeling from blocked Black Sea grain shipments since Russia’s invasion last year. Moscow on Monday pulled out of a U.N.-brokered deal allowing the safe passage of Ukrainian grain through the Black Sea in a…
WASHINGTON (Reuters) – The Biden administration is confident about reaching a strategic agreement with the Marshall Islands, the State Department’s senior official for East Asia and the Pacific told Congress on Tuesday. The Pacific nation’s foreign minister last week called for more U.S. money to deal with the legacy of massive U.S. nuclear testing to…
