AFP
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Author's articles
Meta expands AI glasses line in a bet on the future
Meta showed off new smart glasses on Wednesday as it continued to bank on a lifestyle shift toward blending reality and virtual space despite the efforts inflicting heavy financial losses. But Reality Labs -- Meta's virtual and augmented reality unit -- has consistently posted big losses.
New York officials sink Times Square casino bid
A well-financed campaign to build a casino in the heart of New York's theater district collapsed Wednesday as a government-appointed panel voted down the proposal. Other Caesars supporters included the Reverend Al Sharpton, whose organization was poised to oversee a new $15 million civil rights museum financed by the casino coalition if the Times Square proposal had been built.
US stocks end mixed as Fed rate cut sparks volatility
Wall Street stocks finished mixed after the Federal Reserve announced its first interest rate cut of 2025 and signaled it could enact two more cuts this year. Based on the projections released Wednesday, Hogan said Fed policy makers appeared to be close to evenly split between those who expect at least two interest rate cuts later this year and those who anticipate one or fewer.
Louboutin taps Jaden Smith to lead well-heeled shoemaker's men's line
Christian Louboutin of scarlet-stiletto fame on Wednesday named Jaden Smith, who has followed in his superstar father Will's footsteps as an actor and rapper, as artistic director of the French shoemaker's men's collection. "Jaden Smith will unveil four collections per year, including shoes, leather goods, and accessories," the brand said in a statement.
Canada central bank cuts key lending rate citing Trump tariffs
Canada's central bank cut its key lending rate on Wednesday, offering a boost to borrowers in an economy squeezed by US President Donald Trump's trade war. - Trump has so far maintained tariff exemptions on goods compliant with an existing North American free trade agreement, partly muting the damage to Canada's economy.
US Treasury official expected to be named IMF's second-in-command: source
The US Treasury Department's chief of staff is anticipated to join the International Monetary Fund (IMF) in a key role as its number-two official, a source told AFP on Wednesday. Katz, who is chief of staff at the Treasury, was a senior official in the department during US President Donald Trump's first administration as well.
EU says India's Russia links jeopardise closer ties
The European Union's top diplomat warned Wednesday that its push for closer ties with India could be hampered by New Delhi's purchases of Russian oil and involvement in military drills with Moscow. US-India ties have been strained since Trump raised tariffs on most Indian exports to 50 percent last month in retaliation for New Delhi's continued purchases of Russian oil.
Nvidia CEO disappointed over China chip ban report
Nvidia chief executive Jensen Huang on Wednesday said he was disappointed by a report that Beijing has barred major Chinese tech companies from buying his company's world-leading chips, a crucial component in the generative AI revolution. Beijing has responded by expressing national security concerns about Nvidia chips and urging Chinese businesses to rely on local semiconductor suppliers instead.
AI may boost global trade value by nearly 40%: WTO
Artificial intelligence could boost the value of global trade by almost 40 percent by 2040 thanks to cost reductions and productivity gains, the World Trade Organization said Wednesday. "AI holds major promise to boost trade by lowering trade costs and reshaping the production of goods and services," WTO chief Ngozi Okonjo-Iweala said while presenting the report.
AFP
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