(Reuters) -Hyundai’s electric air taxi startup Supernal has paused work on its aircraft program after recent staff cuts and the departure of its CEO and chief technology officer, TechCrunch reported on Sunday, citing two people familiar with the matter. Supernal announced the departure of CEO Jaiwon Shin late last week. David McBride, the CTO, has…
(Reuters) -Nvidia said on Friday the AI GAIN Act would restrict global competition for advanced chips, with similar effects on the U.S. leadership and economy as the AI Diffusion Rule, which put limits on the computing power countries could have. Short for Guaranteeing Access and Innovation for National Artificial Intelligence Act, the GAIN AI Act…
By Ankita Yadav (Reuters) -Financial markets may be looking at another bout of volatility over the next six months, economists cautioned, as U.S. President Donald Trump clashes with the Federal Reserve to exert influence on monetary policy. Trump’s persistent criticism of the Fed board and Chair Jerome Powell for not lowering interest rates, his attempt…
By Caroline Valetkevitch NEW YORK (Reuters) -The S&P 500 posted a closing record high on Thursday as labor market data did not change expectations for an interest rate cut by the Federal Reserve, a day ahead of the key U.S. monthly jobs report. Also boosting the market were shares of Broadcom, Amazon and Meta Platforms….
(Reuters) -Gap said on Thursday it would expand into the fast-growing beauty and personal care segment this fall season, including some sold under the Old Navy brand. The move by the Banana Republic parent marks a shift in strategy to diversify revenue streams beyond its core apparel business at a time of tariff costs and…
By Doyinsola Oladipo NEW YORK (Reuters) -JetBlue Airways said on Thursday it will partner with Amazon subsidiary Project Kuiper, a low Earth orbit satellite broadband internet network, to improve its onboard Wi-Fi starting in 2027. U.S. air carriers, seeking ways to win over consumers, are broadly investing in onboard Wi-Fi. JetBlue, Kuiper’s first airline partner,…
By Mike Scarcella (Reuters) -Billionaire entrepreneur Elon Musk’s artificial intelligence startup xAI sued Apple and ChatGPT maker OpenAI in U.S. federal court in Texas on Monday, accusing them of illegally conspiring to thwart competition for artificial intelligence. Apple and OpenAI have “locked up markets to maintain their monopolies and prevent innovators like X and xAI…
By David Shepardson and Arsheeya Bajwa WASHINGTON (Reuters) -Intel said on Monday that the U.S. government’s 9.9% stake in the chipmaker could pose risks to its business, from potentially harming international sales to limiting its ability to secure future government grants. The company laid out new risk factors in a securities filing after the government decided…
By Frank Pingue (Reuters) -The NFL has tapped its roster of retired players to help keep the current crop from fumbling away their careers over gambling violations — enlisting former gridiron veterans to deliver the message that betting and football simply do not mix. Sabrina Perel, the NFL’s vice president and chief compliance officer, said…
By Diana Novak Jones (Reuters) -Kraft, Mondelez, Coca-Cola, and several other major food companies have beaten a lawsuit accusing them of designing “ultra-processed” foods to be addictive to children, causing chronic disease. U.S. District Judge Mia Perez in Philadelphia granted the companies’ motion to dismiss on Monday after finding that the plaintiff in the case,…
