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Business

Opinion: AI is a multibillion-dollar industry underpinned by an invisible and exploited workforce

In dusty factories, cramped internet cafes and makeshift home offices around the world, millions of people sit at computers tediously labeling data.

Business

Canadian urban mobility is woefully lacking, but building a better future is still possible

Canadian cities are falling behind globally when it comes to efficiently moving people. Long commute times, high congestion rates and infrastructure that is vulnerable to climate change are symptoms of a mobility crisis.

Business

Federal judge orders Google to open its Android app store to competition

A federal judge on Monday ordered Google to tear down the digital walls shielding its Android app store from competition as punishment for maintaining an illegal monopoly that helped expand the company's internet empire.

Business

Samsung third-quarter forecast misses expectations

Samsung Electronics said Tuesday it expected third-quarter profits to jump almost three-fold, but fell short of market expectations as it struggled to leverage robust demand for chips used in artificial intelligence servers.

Business

US industrial policy may strengthen EV battery supply chain

Vehicle electrification is an important pathway to reducing global greenhouse gas emissions. The supply chain for electric vehicle battery materials relies heavily on China, a dependency that can leave the US vulnerable 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

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

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

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

Industrial clusters for deep decarbonization

Perhaps no sector of the global economy is in greater need of concerted efforts toward deep decarbonization than industry, which includes energy-intensive sectors such as chemicals, iron and steel, cement, and aluminum.

Business

Senators to FTC: Probe Twitter security, take needed action

Reacting to the tumult and mass layoffs at Twitter under its new owner Elon Musk, a group of Democratic senators on Thursday asked federal regulators to investigate any possible violations by the platform of consumer-protection ...

Business

Twitter risks fraying as engineers exit over Musk upheaval

Elon Musk's managerial bomb-throwing at Twitter has so thinned the ranks of software engineers who keep the world's de-facto public square up and running that industry insiders and programmers who were fired or resigned this ...

Business

What's the business potential of the metaverse?

Robert Brunner is the associate dean for innovation and chief disruption officer at the Gies College of Business at the University of Illinois Urbana-Champaign. Brunner spoke with News Bureau business and law editor Phil ...

Business

FTX had 'complete failure' of controls, new CEO says

Collapsed cryptocurrency exchange FTX suffered a "complete failure of corporate controls" under founder Sam Bankman-Fried, the company's new chief executive said Thursday, calling the situation "unprecedented."

Business

Alibaba posts loss, slower revenue amid lower consumption

Chinese e-commerce company Alibaba Group on Thursday posted net losses and missed market expectations for revenue in its quarter ended September amid a slowing economy and depressed consumer sentiment.

Business

Salvadoran president vows to buy "one #Bitcoin every day'

President Nayib Bukele of El Salvador, the first country to make bitcoin legal tender, said Thursday the nation would buy one unit of the currency every day, doubling down in the face of public criticism of his embrace of ...