OpenAI is in early talks to raise a fresh round of funding at a valuation at or above $100 billion, Bloomberg News reported on Friday, citing people with knowledge of the matter. The terms, valuation and timing of the funding round have not yet been finalized and could still change, […]
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Apple has opened negotiations in recent weeks with major news and publishing organizations, seeking permission to use their material in the company’s development of generative artificial intelligence systems, the New York Times reported on Friday. The iPhone maker has floated multiyear deals worth at least $50 million to license the […]
BEIJING: Nissan Motor said on Sunday it would establish a joint research centre with China’s leading Tsinghua University next year, focussing on research and development of electric vehicles (EVs), including charging infrastructure and battery recycling. Nissan and other Japanese automakers have faced a severe sales challenge this year in China, […]
SINGAPORE/NEW YORK/LONDON : Oil investors will usher in 2024 with gnawing concerns about oversupply, slowing economic growth and simmering Middle East tension that could spark price volatility. Benchmark Brent averaged around $80 a barrel this year, after a volatile 2022 in which prices surged above $100 after Russian supplies were […]
SEOUL : South Korea will provide 38 trillion won ($29 billion) in financing to strengthen its battery industry over the next five years, as global competition to secure battery supply chains remains fierce, the government said on Wednesday. South Korean battery firms like LG Energy Solution, Samsung SDI and SK […]
BEIJING : Oil prices consolidated losses on Wednesday in Asian trade, after falling by more than 3 per cent to six-month lows in the previous session on oversupply and demand concerns. Brent crude futures for February inched down 1 cent to $73.23 a barrel by 0207 GMT. U.S. West Texas […]
SINGAPORE : Japanese markets were reeling on Friday, with the Nikkei heading for its biggest weekly drop since October, bonds battered and the yen surging toward its largest weekly gain for five months as investors rushed out of bets on Japanese rates staying low. Beyond Japan MSCI’s broadest index of […]
HONG KONG : Shares in Chinese property developer Shimao Group were flat on Friday after it issued a restructuring plan to reduce up to $7 billion in offshore debt, becoming the latest developer in China to try to revamp its debt. The developer, with around $11.7 billion in offshore notes, […]
BEIJING : Declines in China’s exports likely slowed in November, a Reuters poll showed on Wednesday, amid mixed signs factories in the world’s second-largest economy may be finding their footing after a bruising slump in demand. Outbound shipments from China are expected to show a 1.1 per cent drop in […]
SHENZHEN: Toyota Motor has halted production on some ageing lines at a joint venture in China while operations continue as normal, the Japanese automaker said on Saturday (Dec 2) after a media report that it was partially suspending production due to weak sales. The production halt at the Tianjin venture […]