Business news

Business

AI bubble or 'revolution'? OpenAI's big payday fuels debate

Fear of missing out has rocketed the value of artificial intelligence companies, despite few signs as to when the technology will turn a profit, raising talk of AI overenthusiasm.

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

Amazon plans to hire 250,000 warehouse workers for holiday season

Amazon plans to hire 250,000 seasonal employees to staff its U.S. warehouses and fulfillment network for the holiday season.

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

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

PFF adds an in-game grading feature to its NFL analysis

Pro Football Focus changed how many fans followed the NFL by providing grades and advanced statistics to help quantify how every player performed on a play-by-play basis from high-profile quarterbacks like Patrick Mahomes ...

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

Dutch airline KLM unveils 'firm' cost-cutting measures

Dutch airline KLM on Thursday announced a sweeping package of "firm" cost-cutting measures it hopes will lead to a boost in operating profits of around 450 million euros ($496 million) "in the short term."

Business

Historic funding round values OpenAI at $157 billion

OpenAI, the company behind ChatGPT, secured $6.6 billion in new funding, propelling its valuation to $157 billion and cementing its position as the world leader in artificial intelligence.

Business

Oracle to invest $6.5 bn in Malaysian cloud services region

Tech giant Oracle on Wednesday said it plans to invest more than $6.5 billion on cloud services data centers in Malaysia, joining a list of US titans rushing to build up their AI infrastructure in Southeast Asia.

Business

Zuckerberg and Musk throw verbal jabs over proposed cage match

Billionaires and social media business rivals Mark Zuckerberg and Elon Musk threw new online jabs at each other Sunday, with the Meta founder declaring the owner of X—formerly known as Twitter—was not treating a proposed ...

Business

Agnelli family buys 15-percent stake in Philips

Italy's Agnelli family has acquired a 15-percent stake in Dutch medical technology firm Philips, the latest move into the health sector for the storied industrial dynasty, the two groups said Monday.

Business

Foxconn boss sees potential to invest billions in India

Taiwanese tech giant and key Apple supplier Foxconn said Monday it sees the potential to invest "several billion dollars" in India, with the firm looking to diversify its manufacturing away from China.

Business

Offices: How bad will the property crunch be?

There has been much talk about offices heading for the buffers. The nightmare scenario is many thousands of office buildings being deemed virtually worthless as leases come up for renewal, leaving owners and even lenders ...

Business

FTX founder Sam Bankman-Fried jailed after bail revoked

A US federal judge on Friday ordered FTX founder Sam Bankman-Fried back to prison less than two months before his trial on fraud charges, revoking the disgraced cryptocurrency tycoon's bail over alleged attempts to tamper ...

Business

Angry Birds maker Rovio's shareholders accept Sega's bid

Shareholders of Finland's Rovio, creator of the Angry Birds franchise, have overwhelmingly accepted Japanese Sega's offer to buy the company, allowing the deal to go through, the Finnish company said Thursday.