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By Andreas Rinke and Miranda Murray BERLIN (Reuters) -German Chancellor Olaf Scholz on Tuesday sought to reassure the public and businesses that his government would modernise the economy and support vital industries such as chip factories, despite a court ruling that tore a hole in the federal budget. A constitutional court ruling nearly two weeks …

Germany’s Scholz vows to modernise economy, back Ukraine, despite budget woes Read More »

WASHINGTON (Reuters) -Meta Platforms, which owns WhatsApp, Instagram and Facebook, said on Tuesday it would appeal a judge’s ruling that a U.S. regulator can seek to reduce the amount of money the social media company makes from users under 18. Judge Timothy Kelly of the U.S. District Court for the District of Columbia denied a …

Meta says it will appeal US judge’s ruling in privacy fight with FTC Read More »

By Greg Bensinger (Reuters) -Amazon is trying to lure big corporate customers to it AWS cloud computing service with a new chatbot for businesses, and by offering to guard them against legal and reputational damage that can come from the output of artificial intelligence. The new chatbot, called Q, is designed to help with productivity …

Amazon’s AWS appeals to corporate customers with new chatbot, AI safety measures Read More »

ZURICH (Reuters) – UBS Chairman Colm Kelleher has called for the Swiss financial industry regulator FINMA to be given more powers after the downfall of Credit Suisse showed the authority lacked sufficient “teeth.” “People should be looking at giving the regulators more teeth,” Kelleher said at the Global Banking Summit in London on Tuesday. “It …

UBS Chairman says Swiss financial regulator needs more teeth Read More »

By Joanna Plucinska LONDON (Reuters) -EasyJet on Tuesday reported 2023 earnings slightly ahead of analysts’ expectations after a year of robust travel demand and forward bookings, but the British carrier said geopolitical instability would weigh on the current quarter. European airlines have been reporting strong results in recent months but war in the Middle East, …

EasyJet delivers robust full-year results, Israel war hurts outlook Read More »

By Ludwig Burger FRANKFURT (Reuters) -Novartis has dialled up its sales growth target to 5% per year until 2027, citing demand for innovative drugs after the spin off of its generics business. The medium-term target, which excludes any foreign exchange effects, is mainly driven by six drugs, led by Kisqali, the Swiss drugmaker said in …

Novartis raises sales growth target to 5% a year through 2027 Read More »

MILAN (Reuters) – Pay TV operator Sky Italia is teaming up with Swisscom’s Fastweb to start offering mobile connectivity services in Italy in early 2024, the two firms said in a joint statement on Tuesday. Under the multi-year partnership, Comcast unit Sky Italia and Fastweb will provide an offer including 5G mobile networks and covering …

Pay Tv firm Sky teams up with Fastweb to launch mobile phone offer in Italy Read More »

FRANKFURT (Reuters) – Lending to euro zone firms dipped into negative territory for the first time since 2015, data from the European Central Bank showed on Tuesday, as the bloc was likely in recession and facing a protracted recovery. Bank lending to businesses shrunk by 0.3% in October after a 0.2% expansion a month earlier …

Euro zone corporate lending contracts as economy shrinks: ECB data Read More »

By Foo Yun Chee BRUSSELS (Reuters) – Rules governing the use of artificial intelligence should support innovation, Google’s chief legal officer Kent Walker said on Tuesday, echoing pleas by a wide swath of businesses and tech groups as the European Union races to agree AI rules next month. EU countries and EU lawmakers are now …

AI legal framework needs to promote innovation, senior Google executive says Read More »