By Aditya Soni and Zaheer Kachwala (Reuters) – Chinese startup DeepSeek’s cheaper AI is sharpening investor scrutiny of the billions U.S. tech giants are pouring to develop the technology and analysts say it will dominate this week’s much-awaited results from industry bellwethers. DeepSeek has claimed it took just two months and cost under $6 million…
By Jonathan Stempel NEW YORK (Reuters) – Citigroup can force military personnel to arbitrate claims that its Citibank unit charged unfairly high interest rates on their credit card balances after they returned to civilian life, a federal appeals court panel ruled on Monday. Reversing a trial judge, the 4th U.S. Circuit Court of Appeals in…
(Reuters) – Amazon’s Prime Video has shifted its strategic focus towards live sports and away from original television shows and movies, seeking to meet internal corporate profit targets, The Information reported on Friday. Amazon’s reported move marks a pivotal moment for the tech giant as it looks beyond its traditional focus on original content for…
By Helen Reid and James Davey LONDON (Reuters) -Online fast-fashion retailer Shein requires its contract manufacturers to only source cotton from approved regions, which do not include China, for products it sells in the United States, its biggest market, the company said on Friday. Approved cotton sources include Australia, Brazil, India, the United States and,…
By Daniel Wiessner (Reuters) – A federal judge on Friday granted the U.S. Department of Justice’s request to pause a lawsuit by Elon Musk’s SpaceX claiming the agency lacks the power to pursue claims that the space technology company refused to hire certain immigrants. U.S. Magistrate Judge Ignacio Torteya in Brownsville, Texas, made the decision…
By Dietrich Knauth NEW YORK (Reuters) -Purdue Pharma and its Sackler family owners have reached a new $7.4 billion settlement to resolve thousands of lawsuits alleging that the pain medication OxyContin caused a widespread opioid addiction crisis in the U.S., several state attorneys general said Thursday. The settlement was announced nearly seven months after the…
By Stephen Nellis and Anna Tong SAN FRANCISCO (Reuters) – – This week’s announcement by President Donald Trump of a massive private-sector investment to build more AI data centers casts a spotlight on a relatively small and nimble class of cloud computing firms positioned to play a bigger role in the tech sector. On Tuesday,…
By Nate Raymond (Reuters) – The U.S. Supreme Court cleared the way on Thursday for the enforcement of an anti-money laundering federal law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S. Treasury Department. The justices put on hold a nationwide injunction issued on Dec. 3 by a…
By Catarina Demony LONDON (Reuters) – One of Britain’s biggest anti-racism organisations, Stand Up to Racism, said on Wednesday its Facebook page had been shut down for allegedly breaching the social media platform’s community standards on impersonation, though it was later reinstated. Facebook’s owner, Meta Platforms, said the page had been removed in error and…
By Echo Wang, Curtis Williams and David French (Reuters) – Venture Global LNG was forced to nearly halve the valuation it is seeking in its U.S. initial public offering (IPO) after investors balked at the company’s estimated long-term profit for liquefying gas for export, investors told Reuters. The company is the second-largest exporter of liquefied…
