GENEVA (Reuters) – The bank created by the UBS takeover of Credit Suisse is poised to reduce its workforce by 20-30%, Swiss daily Tages-Anzeiger reported on Sunday, citing an unnamed senior UBS manager. UBS agreed to buy Zurich rival Credit Suisse for 3 billion Swiss francs ($3.3 billion) in a deal engineered by the Swiss …
Up to 30% of jobs to be cut by enlarged UBS, Tages-Anzeiger reports Read More »
By Tom Hals and Blake Brittain (Reuters) – Last year, Kris Kashtanova typed instructions for a graphic novel into a new artificial-intelligence program and touched off a high-stakes debate over who created the artwork: a human or an algorithm. “Zendaya leaving gates of Central Park,” Kashtanova entered into Midjourney, an AI program similar to ChatGPT …
Humans vs. machines: the fight to copyright AI art Read More »
CERNOBBIO, Italy (Reuters) – The EU’s Economy Commissioner is confident that Italy will get the latest instalment of post-pandemic funds despite questions over the meeting of targets to unlock the money, he said on Saturday. “I believe that the points that need to be clarified will be clarified, I see great goodwill on the part …
EU Commissioner confident Italy will not miss out on recovery funds Read More »
By Sheila Dang (Reuters) -Twitter on Friday made public parts of the computer code that decides how the social media site recommends content, with its owner Elon Musk adding that the entirety of the code will be available in the next few weeks. The announcement will allow users and programmers a peek into its workings …
Twitter makes some of its source code public, promises more Read More »
(This March 31 story has been corrected to say car data ownership not clearly defined in EU law) By Foo Yun Chee BRUSSELS (Reuters) – Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from U.S. and Chinese tech …
Car services groups warn of unfair competition as EU data plan stalls Read More »
By Federico Maccioni CERNOBBIO, Italy (Reuters) – The outlook for the Italian economy is improving but higher interest rates designed to curb inflation could pose a threat to growth, Italy’s economy minister said on Saturday, sending a warning to the European Central Bank (ECB). “Fighting inflation with monetary policy is not enough, recession cannot be …
Italian minister warns ECB of risk from higher interest rates Read More »
By Giancarlo Navach CERNOBBIO, Italy (Reuters) – The European Central Bank (ECB) is monitoring broad risks across the financial sector and will act to preserve stability in the euro area, ECB vice-president Luis de Guindos said in a speech on Saturday. De Guindos provided reassurance on the established banking sector in the single currency zone, …
ECB’s De Guindos warns of broad risks in financial sector Read More »
(Reuters) – Incoming UBS Chief Executive Sergio Ermotti has sought to ease worries about the size of the new bank being created by its takeover of Credit Suisse. Critics have voiced concern about the forced deal, designed to help secure financial stability globally during a period of turmoil, which will create a new Swiss bank …
New UBS CEO plays down concerns over size of Swiss bank combination Read More »
By Blake Brittain (Reuters) – Apple Inc on Friday convinced a U.S. appeals court to throw out a $502 million verdict for patent licensing company VirnetX Inc in a long-running fight over internet privacy technology. The U.S. Court of Appeals for the Federal Circuit said the verdict could not stand after the U.S. Patent Trial …
Apple wins reversal of $502 million VirnetX patent infringement verdict Read More »
(Reuters) -Recharge Industries Pty Ltd’s attempt to buy the Britishvolt site is at risk of collapsing due to a dispute with administrator EY over a power supply contract signed by the failed battery startup, the Financial Times reported on Friday. Australia-based Recharge Industries and the British accounting firm hit an impasse over payments related to …
Britishvolt deal at risk of collapse over power supply contract – FT Read More »
