By Julie Zhu and Josh Ye HONG KONG (Reuters) -Ant Group on Saturday announced a surprise share buyback that values the fintech giant at $78.54 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit after a lengthy regulatory overhaul of the firm….
By Emma Farge GENEVA (Reuters) -Robots presented at an AI forum said on Friday they expected to increase in number and help solve global problems, and would not steal humans’ jobs or rebel against us. But, in the world’s first human-robot press conference, they gave mixed responses on whether they should submit to stricter regulation….
By Jonathan Stempel (Reuters) – Elon Musk has sued the elite law firm Wachtell, Lipton, Rosen & Katz to recover most of a $90 million fee it received from Twitter for defeating his bid to walk away from his $44 billion buyout of the social media company. The complaint by Musk’s X Corp, which owns…
By Jody Godoy (Reuters) – Twitter’s claim that Meta Platforms stole trade secrets to build its new microblogging site may be the first volley in a legal battle between the social media giants, but experts say Twitter would have to clear a high hurdle if it sues. In a letter sent on Wednesday, Twitter alleged…
By Julie Zhu and Jane Xu HONG KONG (Reuters) -Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector. China’s central bank said that financial regulators would…
By Yuvraj Malik (Reuters) – Researchers at India’s AI4Bharat are raising $12 million from venture capital firms Peak XV and Lightspeed Venture for an artificial intelligence startup, according to three people familiar with the matter. The larger-than-usual seed funding round underscores the growing interest in generative AI, after OpenAI’s ChatGPT dazzled users with its ability…
By David Shepardson WASHINGTON (Reuters) -Tesla wants the Biden administration to finalize more stringent vehicle emissions limits than those proposed in April by the Environmental Protection Agency (EPA), putting the automaker at odds with other manufacturers. The EPA in April proposed 2027-2032 vehicle standards that would cut emissions by 56% and result in an estimated…
By Marc Jones LONDON (Reuters) – The central bankers’ central bank, the Bank for International Settlements (BIS), has laid out a seven-point plan designed to help countries prevent cyber hacks on the new wave of digital national currencies under development. Around 130 countries are now exploring central bank digital currencies (CBDC) to keep up with…
By Chibuike Oguh NEW YORK (Reuters) -Shares of Rivian Automotive surged more than 18% on Friday as it continued to rally after the electric vehicle (EV) maker reported better-than-expected quarterly deliveries early this week. Rivian said on Monday it delivered 12,640 vehicles in the second quarter on steady demand from customers, beating market estimates. That…
By Niket Nishant and Hannah Lang (Reuters) -Cryptocurrency exchange Gemini, the largest creditor of bankrupt crypto lending firm Genesis, sued parent company Digital Currency Group (DCG) and its CEO, the day after DCG missed the exchange’s deadline for agreeing to a restructuring deal for the venture capital firm’s troubled unit. DCG and Gemini, two prominent…
