Reuters Financial News

By Steve Scherer and Ismail Shakil

Despite the Fed’s best efforts, the U.S. economy has maintained its momentum throughout this year, shattering expectations of a potential downturn. Although employment growth was slower in June, robust figures continued to pressure the fed for further rate rises, even though consumer expenditure experienced a slight chill in May relative to the preceding month.

MILAN (Reuters) — European shares, currencies and bonds rallied on Wednesday after U.S. inflation slowed in June, feeding bets the Federal Reserve is nearing the end of a series of steep interest rate rises.

Gujarat government is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India's Vedanta. «We are in touch with multiple prospective investors, including Foxconn… Gujarat is uniquely positioned to attract top chipmakers,» said Vijay Nehra, secretary of the science and technology department in Gujarat. Foxconn this week exited its project with Vedanta, which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress.

OpenAI’s popular Artificial Intelligence (AI) chatbot ChatGPT suffered an outage for a second day running on Wednesday. The service had been down for a couple of hours globally on Tuesday as well. Several users took to microblogging platform Twitter to report the issue.

By Amanda Cooper

BENGALURU (Reuters) -India's Vedanta (NYSE:VEDL) will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the $19.5 billion chipmaking project.

Reuters. Though the resolution was opposed by the United States and the European Union who opined that it would conflict with their view on human rights and freedom of expression.

OpenAI in June. Clarkson's firm asked the court to allow the plaintiffs to remain anonymous in both cases, citing violent threats reportedly received by individuals filing similar lawsuits The lawsuit filed on Tuesday claims that the company could owe at least $5 billion.

leadership role at UBS. The reshuffling of positions is a result of the ongoing aftermath of the Swiss authorities' intervention to rescue Credit Suisse through a shotgun merger with UBS, leading to new management taking charge. Jacques de Vaucleroy, a Belgian executive who previously held management positions at French insurer AXA and Dutch bank ING, has been serving as the acting chairman since Ermotti stepped down in April.

engineers and marketers at the stock exchange operator Nasdaq are embracing newer artificial intelligence, while its lawyers are treading more cautiously, its chief technology and chief information officer said on Tuesday. Inside Nasdaq, which also sells technology for global markets, workers across different departments are exploring how to use so-called generative AI, Brad Peterson said at the Reuters MOMENTUM conference in Austin. Like the viral chatbot, this technology can be prompted to produce text or other new content, based on past data.

British Prime Minister Rishi Sunak and Australian PM Anthony Albanese engaged in a good-natured banter revolving around the Ashes series when the duo met during the NATO summit in Lithuania The friendly encounter between the two politicians comes in the wake of a week-long dispute between England and Australia over a regulation crease stumping that was deemed against the spirit of the game. The video that went viral shows Albanese playfully displaying a paper indicating the scoreline of 2-1 in Australia's favour, while Sunak countered with a picture of England batsmen Mark Woods and Chris Woakes celebrating their recent Test match victory at Headingley. Taking it further, Albanese produced a photo of England wicketkeeper Jonny Bairstow being controversially stumped in the previous match at Lord’s.

Asian shares nudged higher and the dollar was at a two-month low on Wednesday ahead of crucial U.S. inflation data that will help gauge whether the Federal Reserve is at the end of its aggressive rate hike policy. The Japanese yen strengthened against most major currencies and last fetched 139.43 against the dollar, its highest in a month.

Gold prices edged higher on Wednesday after the greenback and bond yields retreated as investors cautiously awaited U.S. inflation data that could offer more cues on the Federal Reserve's rate-hike policy path. * Spot gold rose 0.2% to $1,935.39 per ounce by 0053 GMT.

Donald Trump's immunity in E. Jean Carroll's defamation lawsuit, clearing the way for the case to proceed to trial in January. Trump had previously denied Carroll's accusation of sexual assault and claimed immunity as the president.

inflation data from India and the US to be released later today. US stock futures were little changed in early Asian trade, while Japanese and South Korean markets fell. Investors await the inflation data for further cues on the outlook for interest rates in the US and India.

Reuters reported. The statement, released on Tuesday, stated that China rejects the references to China in NATO's joint communique from the summit held in Vilnius, Lithuania. It further emphasized China's commitment to firmly protect its sovereignty, security, and development interests.

Also read: OECD says 27% of jobs at high risk from artificial intelligence The FCA intends to take a strong stance on this matter, supporting beneficial innovation while implementing proportionate protections. Rathi will emphasise the agency's commitment to maintaining vigilance in mitigating cyber risks and fraud, as these threats are expected to rise with the increased adoption of AI.

Reddit. The founder, Jaime Rogozinski, had accused Reddit of unjustly banning him from moderating the community and infringing on his trademark rights, Reuters reported.  According to Rogozinski, Reddit removed him in April 2020 to prevent him from controlling the renowned brand that contributed to Reddit's substantial valuation of $10 billion by late 2021.

Washington | Saudi Arabia’s sovereign wealth fund has agreed to invest more than $US1 billion ($1.5 billion) in a new commercial entity controlled by the PGA Tour, and Greg Norman will be ousted as the CEO of LIV Golf if the business deal between the Saudis and the tour is finalised, a tour executive told US Congress on Tuesday (Wednesday AEST).

By Ana Isabel Martinez