When David Ha started an AI company in Japan with his former Google colleague, they had a choice: create another huge, energy-intensive tool like ChatGPT, or go their own way. In starting the company, Ha has put down roots in Japan, which "has its problems" but remains "a leading democracy in Asia", he said.
The United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone maker's credit card. The CFPB ordered Goldman Sachs to pay at least $19.8 million in compensation and a $45 million fine, while iPhone-maker Apple was hit with a $25 million fine. elm-gc/dw
Uncertainty about the upcoming US elections had cooled economic activity across the country, the Federal Reserve said Wednesday, noting that many businesses and consumers were pausing major decisions until after Election Day.
The federal government's foreign exchange subsidy plan caused a significant loss of N13.2trn in lost revenue between 2021 and 2023, according to the World Bank.
Australian mining giant BHP on Wednesday denied responsibility for a 2015 dam collapse in Brazil, one of the country's worst environmental disasters, as it opened its defence at the High Court in London. The Australian mining giant has also said that the quality of river water contaminated by the fallout has returned to pre-disaster levels.
The European Central Bank should keep a close eye on the rise in emerging currencies like the Chinese yuan, its President Christine Lagarde said Wednesday at an event in Washington.
Sales of previously owned US homes slowed to their lowest rate in nearly 14 years last month, according to industry data released Wednesday, despite cooler mortgage rates. Part of the reason home sales have been stalling is that existing homeowners are reluctant to enter the market after having locked in lower mortgage rates previously.
Canada's central bank cut its key interest rate by half a point Wednesday, reducing it to 3.75 percent and offering borrowers further relief as it claimed the battle against inflation had proven successful.
The federal government of Nigeria is determined to find solutions to the current state of the naira in the foreign exchange markets and discuss those solutions.
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
Economy
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