By Stephen Nellis (Reuters) – Intel Corp on Monday provided a handful of new details on a chip for artificial intelligence (AI) computing it plans to introduce in 2025 as it shifts strategy to compete against Nvidia Corp and Advanced Micro Devices Inc. At a supercomputing conference in Germany on Monday, Intel said its forthcoming…
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase & Co executives expect the bank’s net interest income to rise by $3 billion this year on its takeover of failed First Republic Bank, which has made the biggest U.S. bank even bigger. CEO Jamie Dimon and other top executives are presenting their strategies at an investor…
SAN FRANCISCO (Reuters) -Bill Gates, Microsoft Corp’s co-founder, on Monday said the technology race to win is the development of the top artificially intelligent agent, poised to disrupt search-engine, productivity and online shopping sites. “You’ll never go to a search site again,” he said. “You’ll never go to Amazon.” Speaking at AI Forward 2023, an…
WASHINGTON (Reuters) – Lawyers for Florida Governor Ron DeSantis, a Republican mulling a 2024 presidential run, are asking that a federal judge be disqualified from overseeing a dispute between DeSantis and Walt Disney Co, questioning the judge’s impartiality in the case. Lawyers for DeSantis, who is being sued for allegedly targeting Disney for company leadership’s…
(Reuters) – BlackRock Investment Institute on Monday said it was moving from “overweight” to “neutral” on credit, saying yields are not enough to compensate investors for tightening credit conditions. In a research note, it also said it was moving from “underweight” to “neutral” on private markets following recent weakness in the U.S. regional banking industry….
By Mike Scarcella (Reuters) – National retail pharmacy giant Walgreen Co has asked a U.S. judge to vacate an arbitrator’s award of more than $642 million to Humana Health Plan Inc in a drug-pricing dispute, calling the “staggering” sum the result of a “miscarriage of justice.” Lawyers for Walgreens made their legal challenge in a…
By David Shepardson WASHINGTON (Reuters) – President Joe Biden on Monday said he plans to nominate attorney Anna Gomez for a key fifth seat on the U.S. Federal Communications Commission (FCC), after Democrats had been stymied since 2021 from gaining a majority on the five-member telecommunications regulator. Gomez, a Democratic telecommunications attorney, currently serves as…
By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) – As the race to develop more powerful artificial intelligence services like ChatGPT accelerates, some regulators are relying on old laws to control a technology that could upend the way societies and businesses operate. The European Union is at the forefront of drafting new AI rules that…
By Tom Polansek WICHITA, Kansas (Reuters) – Farmers in Kansas, the biggest U.S. producer of wheat used to make bread, are abandoning their crops after a severe drought and damaging cold ravaged farms. They are intentionally spraying wheat fields with crop-killing chemicals and claiming insurance payouts more than normal, betting the grain is not worth…
By Michael S. Derby NEW YORK (Reuters) -San Francisco Federal Reserve President Mary Daly on Monday said it’s too soon to say whether the U.S. central bank will raise interest rates at its June 13-14 policy meeting. “We have to be extremely data-dependent, and that’s why, even three weeks in advance of the meeting, our…
