FRANKFURT (Reuters) – The use of artificial intelligence in finance is still in its infancy but it needs to be monitored and possibly regulated to prevent harm to consumers and ensure the proper functioning of markets, the European Central Bank said on Wednesday. The ECB saw a number of opportunities from the use of generative …
AI’s use in finance may need new rules, ECB says Read More »
By Christoph Steitz and Tom Käckenhoff FRANKFURT (Reuters) -German conglomerate Thyssenkrupp cut its annual forecasts for sales and net profit for the second time in three months, blaming lower demand and prices at its steel unit and impairments at its materials trading division. Shares sank 5.7% in morning trading following its downgraded outlook. The scaled-back …
Thyssenkrupp cuts sales, profit forecasts amid gloomy market Read More »
By Jessica DiNapoli NEW YORK (Reuters) – What is missing from the Paris 2024 Olympics? A tear-jerking corporate advertising campaign from Procter & Gamble saluting the mothers of athletes. The consumer products maker, one of the world’s biggest ad spenders and a sponsor of the Olympics, is instead focusing its marketing at the Games on …
P&G plans to downplay its corporate name in ads during Paris Olympics Read More »
By Jan Strupczewski BRUSSELS (Reuters) – France and the Netherlands are seeking European Union sanctions on any financial institution in the world that helps Russia’s military pay for goods or technology for making weapons, according to a proposal seen by Reuters. The EU has been trying to prevent circumvention of 13 packages of sanctions already …
By Max A. Cherney (Reuters) – Google parent Alphabet on Tuesday unveiled a product called Trillium in its artificial intelligence data center chip family that it says is nearly five times as fast as its prior version. “Industry demand for (machine learning) computer has grown by a factor of 1 million in the last six …
Google launches Trillium chip, improving AI data center performance fivefold Read More »
(Reuters) -JPMorgan Chase on Monday pushed back against recommendations made by proxy advisor Institutional Shareholder Services (ISS) on investor proposals on severance payouts and the separation of the CEO and board chair positions. ISS had supported the proposal that two separate people hold the office of the chairman and the office of the CEO, both …
JPMorgan pushes back on ISS recommendations on severance, independent chair Read More »
By Joan Faus BARCELONA (Reuters) – Spanish drugmaker Grifols swung to a first-quarter net profit of 21 million euros ($23 million) from a year-ago loss, and said on Tuesday it was on track to meet its 2024 outlook, including cutting debt. Grifols, which has been battling a plunge in its share price this year, said …
Grifols swings to profit, says debt reduction on track Read More »
PARIS (Reuters) – The French economy is set to expand slightly in the second quarter after growing 0.2% in the first quarter, the country’s central bank said on Tuesday in its monthly business survey. The Bank of France did not offer a specific estimate for second quarter growth, saying that the outlook was particularly clouded …
French central bank sees “slight” second quarter growth Read More »
(Reuters) – Eutelsat Group, the world’s third-biggest satellite operator by revenue, on Tuesday reported third-quarter sales in line with expectations and reiterated its full-year outlook. Sales were 300.8 million euros ($325.38 million), just short of the 304 million euros forecast by analysts in a poll compiled by the company. The group formed by the September …
Eutelsat confirms guidance, with OneWeb network on track Read More »
(Reuters) – Meta Platforms will discontinue its work-focused Workplace app as the company shifts its focus on building artificial intelligence and metaverse technologies, the Facebook parent said on Tuesday. Workplace will be shuttered starting June 2026 for customers but Meta will continue to use it as its internal messaging board, the company said, adding users …
Meta to shut Workplace app to focus on AI, metaverse Read More »
