By Stephanie Kelly NEW YORK (Reuters) – Oil prices rose over 1% on Thursday to their highest in nearly three months after U.S. inflation data suggested interest rates in the world’s biggest economy were close to their peak. Brent crude futures rose $1.25, or 1.6%, to settle at $81.36 per barrel. The session peak was…
By Jane Lanhee Lee and Eduardo Baptista (Reuters) – The sale of struggling Silicon Valley startup zGlue’s patents in 2021 was unremarkable except for one detail: The technology it owned, designed to cut the time and cost for making chips, showed up 13 months later in the patent portfolio of Chipuller, a startup in China’s…
By Chris Helgren VANCOUVER, British Columbia (Reuters) -Dock workers at ports along Canada’s Pacific coast and their employers accepted a tentative wage deal on Thursday, ending a 13-day strike that disrupted trade at the country’s busiest ports and risked worsening inflation. “The British Columbia Maritime Employers Association (BCMEA) and International Longshore and Warehouse Union (ILWU)…
(Reuters) -Elon Musk, the billionaire entrepreneur, launched his long-teased artificial intelligence startup xAI on Wednesday, unveiling a team comprised of engineers from the same big U.S. technology firms that he hopes to challenge in his bid to build an alternative to ChatGPT. The startup will be led by Musk, already the CEO of electric car…
By Camillus Eboh and Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s Senate on Thursday speedily approved a request by President Bola Tinubu to borrow $800 million from the World Bank to help cushion the impact of high fuel prices after ending a popular but costly petrol subsidy. Tinubu had requested the Senate’s consent earlier on Thursday for…
By Jennifer Rigby and Richa Naidu LONDON (Reuters) – (This June 29 story has been corrected to drop the reference to aspartame being removed from PepsiCo products in 2020, in paragraph 25. A PepsiCo spokesperson corrected an earlier statement from an outside company spokesperson) One of the world’s most common artificial sweeteners is set to…
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…
