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Fed under pressure to cut rates as market turmoil continues
The ongoing global stock sell-off has fueled calls for the US Federal Reserve to lower interest rates swiftly and decisively, with some analysts now calling for it to make an emergency cut before its September rate decision. - 'Infer too much' - While some analysts are now calling for emergency rate cuts, others have continued to voice support for a September move.
Elon Musk suing OpenAI, Altman again
Elon Musk revived a lawsuit on Monday against OpenAI, accusing its co-founders Sam Altman and Greg Brockman of betraying the artificial intelligence company's founding mission. Since leaving OpenAI, Musk has joined the chorus of critics warning that artificial intelligence could spell the end for humanity.
Turkish president slams social media 'fascism' amid Instagram battle
Turkish President Recep Tayyip Erdogan accused social media networks of "fascism" and censorship on Monday as his government blocked Instagram for a fourth day. Turkish authorities have temporarily blocked access to social media sites, including Facebook, X and Wikipedia in the past.
German chip maker Infineon to cut 1,400 jobs
German chip maker Infineon said Monday it will slash 1,400 jobs and relocate 1,400 more due to a tough market environment, as it announced falling profits and downgraded its outlook. The news comes after US chip giant Intel announced last week it will slash more than 15 percent of its workforce as it seeks to cut about $20 billion in expenses this year.
TikTok, bowing to EU, withdraws rewards programme
TikTok will permanently remove a feature in a spinoff app in France and Spain that rewards users for watching and liking videos, bowing to pressure from European regulators, the EU and the Chinese-owned company said Monday. TikTok Lite arrived in France and Spain -- the only EU countries where it is available -- in April this year.
Inbred, gibberish or just MAD? Warnings rise about AI models
When academic Jathan Sadowski reached for an analogy last year to describe how AI programs decay, he landed on the term "Habsburg AI". "I think the term Habsburg AI has aged very well," Sadowski told AFP, saying his coinage had "only become more relevant for how we think about AI systems".
Indonesian growth slows in second quarter
Indonesia's economy grew more slowly in the second quarter of 2024 despite being supported by spending on religious holidays and increased household consumption, the country's statistics agency said on Monday. Growth in Southeast Asia's largest economy was 5.05 percent in the second quarter, slightly lower than the previous quarter's 5.11 percent, Statistics Indonesia said.
Croatia mountain hideaway booms as tourists flee summer heat
Hoping to escape relentless heat waves, more tourists in Croatia are heading to an upland getaway to dodge the soaring temperatures by the sea. Like much of southeast Europe, Croatia has been hit by a string of heat waves throughout the summer, with the mercury regularly passing 37 degrees Celsius.
UK beekeepers and scientists tackle sticky problem of honey fraud
Lynne Ingram cuts a peaceful figure as she tends to a row of humming beehives in a leafy corner of Somerset, southwest England. - Lasers - Behind the closed blinds of a research laboratory at Aston University in Birmingham, central England, researchers fighting honey fraud are harnessing cutting-edge technology.
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