Business news

Business

Taiwan's Foxconn says building world's largest 'superchip' plant

Taiwanese tech giant Foxconn said on Tuesday it is building the world's largest production plant for US hardware leader Nvidia's GB200 "superchips" that power artificial intelligence servers.

Internet

'Appeals Center' to referee EU social media disputes

An independent appeals panel was unveiled Tuesday to decide disputes between social media firms and their users in the European Union over content posted on their platforms.

Business

Study finds electric vehicle subsidies help the climate and automakers—but at a cost

A new study shows that electric vehicle tax credits under the Inflation Reduction Act reduced pollution and boosted U.S. automakers, but largely benefited buyers who would have purchased EVs without subsidies.

Business

Psychosocial risks of collaborative robots: Emphasizing the need for worker engagement

The growing use of collaborative robots in the workplace may pose significant psychosocial risks to workers' mental health and their job security, but there are ways for organizations to smooth the transition, according to ...

Business

EU states greenlight extra tariffs on EVs from China

EU countries gave a definitive green light on Friday to hefty additional tariffs on electric cars made in China, despite strong German opposition and fears it will trigger a trade war with Beijing.

Business

Meta must limit data use for targeted ads: EU court

Social media platforms such as Meta's Facebook must limit the use of personal data including someone's sexual orientation for targeted advertising, the European Union's top court ruled Friday.

Business

What next for OpenAI after $157 billion bonanza?

ChatGPT-maker OpenAI has become an AI powerhouse after securing Silicon Valley's largest-ever funding round. The company now faces the challenge of delivering on its promise to become the next Apple or Google.

Business

Irish regulator to probe Ryanair use of facial recognition

Ireland's data watchdog said Friday it will probe whether budget airline Ryanair's use of facial recognition to check the identity of customers booking through third-party websites violates EU privacy laws.

Business

Green subsidies may have hidden costs, experts warn

Government subsidies for business practices and processes should be approached with caution, even when they seem to be environmentally friendly, writes a group of scientists and economists in this week's Policy Forum in the ...

Business

Google is working on reasoning AI, chasing OpenAI's efforts

Google is working on artificial intelligence software that resembles the human ability to reason, similar to OpenAI's o1, marking a new front in the rivalry between the tech giant and the fast-growing startup.

Business

Revolut urges Meta to step up on cyber fraud reimbursement

British online bank Revolut on Thursday urged Facebook owner Meta to reimburse victims of password security breaches, blasting the US tech giant's data-sharing partnership with several UK banks as "woefully" inadequate.

Business

Southwest's strong 2022 rebound soured by holiday debacle

Southwest Airlines is anticipating a money-losing fourth quarter after a winter storm and technology meltdown led to nearly 17,000 canceled flights and stranded hundreds of thousands of holiday travelers.

Business

Southwest starts on reputation repair after cancellations

With its flights running on a roughly normal schedule, Southwest Airlines is now turning its attention to repairing its damaged reputation after it canceled 15,000 flights around Christmas and left holiday travelers stranded.

Consumer & Gadgets

CES gadget gala looks to shake off economic gloom

The annual CES consumer electronics extravaganza throws open its doors in Las Vegas on Thursday as the industry looks to the latest innovations to help cure the pain from an ailing global economy.

Business

CES tech gala looks to shake off economic gloom

The annual CES consumer electronics extravaganza threw open its doors in Las Vegas on Thursday as the industry looks to the latest innovations to help cure the pain from an ailing global economy.

Business

'Gut punch': Meta bruised in EU data fight

European regulators have laid down one of the biggest challenges so far to the multibillion-dollar business model of Facebook owner Meta, analysts said on Thursday.

Business

Amazon to cut more than 18,000 jobs, CEO says

Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact the online retail giant had "hired rapidly" during the pandemic.

Business

CES startups face cautious investors amid economic woes

More than a thousand startups are showcasing their products at the annual CES tech show in Las Vegas, hoping to create some buzz around their gadgets and capture the eyes of investors who can help their businesses grow.

Business

Coinbase to pay $100M in settlement with New York regulators

New York announced a $100 million settlement with Coinbase on Wednesday over what state officials called significant failures in the cryptocurrency trading platform's systems for spotting potential criminal activity.

Business

Elon Musk cuts Twitter expenses by falling behind on bills

Elon Musk is trying to slash expenses at Twitter as close to zero as possible while his personal wealth shrinks—and this apparently has included falling behind on rent payments at the company's offices.

Business

Meta fined 390M euros in latest European privacy crackdown

European Union regulators on Wednesday hit Facebook parent Meta with hundreds of millions in fines for privacy violations and banned the company from forcing users in the 27-nation bloc to agree to personalized ads based ...

Business

Salesforce to lay off 8,000 workers in latest tech purge

Business software maker Salesforce is laying off about 8,000 employees, or 10% of its workforce, as major technology companies continue to prune payrolls that rapidly expanded during the pandemic lockdown.

Business

War-themed video game fuels wave of misinformation

Troops battle through burning streets. Missiles take down fighter jets. Drones pulverize tanks. The dramatic visuals have the trappings of real-life combat, but they are clips from video games fuelling misinformation.