(Reuters) – Microsoft Corp is developing its own artificial intelligence chip code-named “Athena” that will power the technology behind AI chatbots like ChatGPT, the Information reported on Tuesday, citing two people familiar with the matter. The company, which was an early backer of ChatGPT-owner OpenAI, has been working on the chip since 2019 and it…
BEIJING (Reuters) – China has banned senior executives of Raytheon Missiles & Defense and Lockheed Martin Corp from entering, working, staying and residing in the country since Feb. 16, the Ministry of Commerce said on Tuesday. Raytheon and Lockheed Martin have been involved in arms sales to Taiwan for a long time, the ministry said….
By Dan Peleschuk and Guy Faulconbridge KYIV/MOSCOW (Reuters) – Russian President Vladimir Putin has met his commanders in two regions of Ukraine that Moscow claims to have annexed, while Russian forces stepped up heavy artillery bombardments and air strikes on Tuesday on the devastated Ukrainian city of Bakhmut. Ukraine’s President Volodymyr Zelenskiy, meanwhile, visited troops…
(Reuters) – Bank of New York Mellon Corp beat first-quarter profit estimates on Tuesday, benefiting from the Federal Reserve’s rate hikes that boosted the lender’s interest income. Banks have been major beneficiaries of the Fed’s aggressive monetary policy aimed at curbing decades-high inflation, which has also led to heightened market volatility and credit tightening. The…
By Howard Schneider ST. LOUIS (Reuters) – The U.S. central bank should continue raising interest rates on the back of recent data showing inflation remains persistent while the broader economy seems poised to continue growing, even if slowly, St. Louis Federal Reserve President James Bullard said. In comments countering views that the U.S. is heading…
By Jack Queen (Reuters) – One of the most closely watched U.S. media trials in decades kicks off in a Delaware court on Tuesday as Fox Corp and Fox News face a $1.6 billion defamation lawsuit by Dominion Voting Systems over the network’s coverage of false claims that the ballot-counter company rigged the 2020 presidential…
(Reuters) – Electric-vehicle company Lordstown Motors Corp said on Tuesday production and deliveries of its Endurance electric pick-up truck resumed this month after a pause in February to address quality issues. EV startups have been struggling with dwindling cash balances and production challenges as access to capital tightens amid rising U.S. interest rates to tame…
By Anirban Sen NEW YORK (Reuters) – Mark Gerstein, a veteran dealmaker who stepped down from law firm Latham & Watkins in December, has joined PJT Partners Inc, the investment bank led by Paul Taubman, as a senior adviser. Gerstein, who spent 27 years at Latham & Watkins and served as the firm’s global co-chair…
ROME (Reuters) – British American Tobacco and Amazon are under investigation in Italy over what regulators say is potentially misleading advertising for the Glo Hyper X2 tobacco heater, the Italian Competition Authority said on Tuesday. “It is not made clear, or it is inadequately stated” in the advertising that Glo Hyper X2 is a nicotine-based…
TOKYO (Reuters) – Japanese automaker Nissan Motor aims to have seven electrified vehicle models by 2026 and 80% of its line-up to be electrified by 2030 in China, chief operating officer Ashwani Gupta said on the sidelines of the Shanghai auto show on Tuesday. He said that China had already passed the tipping point where…
