Microsoft settles California probe over worker leave for $14 million
July 3, 2024 – 1:54 PM PDT Photo by David Ramos/Getty Images (Reuters) – Microsoft Corp (MSFT.O) has agreed to pay $14 million to settle a California agency’s claims that it illegally penalized workers who took medical or family-care leave, the agency said on Wednesday. Advertisement The California Civil Rights Department in filings in state court […]
Echoes of dotcom bubble haunt AI-driven US stock market
July 1, 2024 – 10:03 PM PDT REUTERS/Dado Ruvic/Illustration/File Photo NEW YORK (Reuters) – A U.S. stock rally supercharged by excitement over artificial intelligence is drawing comparisons with the dotcom bubble two decades ago, raising the question of whether prices have again been inflated by optimism over a revolutionary technology. Advertisement AI fever, coupled with […]
AI-focused tech firms see big jump in market cap in June
July 1, 2024 – 3:26 AM PDT A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Artificial intelligence-focused companies, mostly chipmakers, saw big gains in their market capitalization at the end of June, with Nvidia (NVDA.O) briefly overtaking Microsoft […]
Financial industry grappling with AI’s gifts and perils, executives say
June 28, 2024 – 5:32 AM PDT CHICAGO (Reuters) – The spread of artificial intelligence-based systems offers big opportunities for financial services firms, executives say, but asset managers also face higher stakes than other consumer-facing businesses because they manage sensitive information. Advertisement For example, AI systems could be better than humans at explaining to clients […]
The ‘BlackSuit’ hacker behind the CDK Global attack hitting US car dealers
June 27, 2024 – 3:22 AM PDT REUTERS/Kacper Pempel/Illustration/File Photo SAN FRANCISCO (Reuters) – A hack into software maker CDK Global has disrupted operations at auto dealerships across the U.S., the latest in a series of hacks where ransom-demanding cybercriminals target big companies by breaching behind-the-scenes software suppliers. Advertisement CDK makes software that is commonly […]
Wall St mixed as tech stocks attempt recovery, financials drag
June 26, 2024 – 7:26 AM PDT The Nasdaq Market site is seen in New York City, U.S., March 26, 2024. REUTERS/Brendan McDermid/File Photo (Reuters) – Wall Street’s main indexes were mixed on Wednesday, with technology stocks attempting to find a floor after recent selloff, while investors awaited a crucial inflation report this week to […]
Nvidia short sellers make $5 billion from three-day selloff, data shows
June 25, 2024 – 6:46 AM PDT (Reuters) – Nvidia (NVDA.O) short sellers have raked in nearly $5 billion in paper profits from the AI chip designer’s sharp selloff over the past three sessions, according to data analytics firm Ortex Technologies. Advertisement The stock has slumped 13% and lost $430 billion in market capitalization since […]
Apple charged with breaching EU tech rules, faces another probe
June 24, 2024 – 6:00 AM PDT AMSTERDAM (Reuters) – European Union antitrust regulators charged on Monday that Apple (AAPL.O) breached the bloc’s tech rules, a charge that could result in a hefty fine for the iPhone maker which also faces another investigation into new fees imposed on app developers. Advertisement The European Commission, which […]
Amazon mulls $5 to $10 monthly price tag for unprofitable Alexa service, AI revamp
June 21, 2024 – 6:36 AM PDT REUTERS/Elijah Nouvelage/File Photo SAN FRANCISCO (Reuters) – Amazon (AMZN.O) is planning a major revamp of its decade-old money-losing Alexa service to include a conversational generative AI with two tiers of service and has considered a monthly fee of around $5 to access the superior version, according to people […]
Biden to ban US sales of Kaspersky software over ties to Russia, source says
June 20, 2024 – 7:00 AM PDT REUTERS/Dado Ruvic/Illustration/File Photo WASHINGTON (Reuters) – The Biden administration on Thursday will announce plans to bar the sale of Kaspersky Lab’s antivirus software in the United States, a person familiar with the matter said, citing the firm’s large U.S. customers including critical infrastructure providers and state and local […]