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CNN —Ukrainian pilots have started joint training on F-16 fighter jets with US instructors in Ukraine, according to Kyiv. It landed at our airfields, we conducted joint training with F-16 pilots … A day ago two of my pilots were tested by US instructors,” Ukrainian Air Force Commander Oleksandr Oleshchuk told Ukrainian state TV on Saturday. An F-16 fighter jet performs at an air show in Houston, the United States, on Oct. 10, 2020. Denmark and the Netherlands have taken the lead in preparing a program to train Ukrainian pilots on the American jet, but the US is still working with other countries to see who may provide F-16s to the Ukrainian Air Force. Denmark said Ukrainian pilots would begin training on F-16 jets later this month, part of a coalition of 11 countries that will be involved in the training program.
Persons: , Oleksandr Oleshchuk, Oleshchuk, Oleksii Reznikov, Reznikov, , Lao Chengyue, Volodymyr Zelenskiy, Ulf Kristersson, Jonas Ekstromer, Reuters Archer, Volodymyr Zelensky, “ Archer, ” Zelensky, Archer, , Zelensky Organizations: CNN, Ukrainian, Ukrainian Air Force, Ukrainian Defense, Getty, NATO, Swedish, TT, Agency, Reuters, Sweden Ukrainian, Archer, Sweden’s, Swedish Archers, Gripen Locations: Ukraine, Kyiv, Ukrainian, Houston, United States, Xinhua, Denmark, Netherlands, Harpsund, Sweden, Swedish
Since launching Wayve in 2017, CEO Alex Kendall has often felt like the self-driving car industry's mostly ignored little brother. In 2017, Kendall got a Ph.D. in deep learning and computer vision at the University of Cambridge. While there, he helped develop a deep learning algorithm for a computer vision concept called "semantic segregation." A delivery van outfitted with Wayve's autonomous driving software is part of the fleet of vehicles making grocery deliveries across London. When he and Kendall launched Wayve, "many of the big technology giants had just put billions of dollars of funding into building autonomous vehicles," Kendall says.
Persons: Alex Kendall, Kendall, Amar Shah, Wayve, Bill Gates, we've, it's, Shah, I've Organizations: Microsoft, Virgin, CNBC, University of Cambridge, PACE, Eclipse Ventures Locations: London, South, Cambridge, Asda, Kendall
Hong Kong CNN —Intel has pulled out of a major acquisition of an Israeli chipmaker after failing to obtain the required regulatory approval. The US tech giant said in a Wednesday statement it would scrap its planned $5.4 billion purchase of Tower Semiconductor (TSEM), saying it had not received the necessary sign-off from regulators in time. While Intel (INTC) did not specifically mention which jurisdiction it was waiting on, it had previously outlined efforts to clear the deal with authorities in China. Both Intel and Tower said in their respective statements that the deal had been canceled based on mutual agreement. To walk away, Intel will now pay Tower a termination fee of $353 million, the California-based company said in the statement.
Persons: Pat Gelsinger, ” Gelsinger, Joe Biden, won’t, Gelsinger, Russell Ellwanger, Organizations: Hong Kong CNN, Intel, Tower Semiconductor, Financial Times, Administration of, CNN, Companies, Tower’s Nasdaq Locations: Hong Kong, China, United States, Europe, Asia, California, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRather than big US tech stocks, look at small and mid-sized Chinese tech firms to play the AI gamePaul Gambles of MBMG Family Office Group explains why he is no longer as bearish on Chinese tech firms.
Persons: Paul Gambles Organizations: Family
"If you don't think there are opportunities with AI, then in my mind you are a complete moron." That comes from the head of Norway's sovereign wealth fund, which is the world's biggest stock investor. "If you don't think there are opportunities with AI, then in my mind you are a complete moron," Nicolai Tangen, the fund's chief executive, told the Financial Times. Meanwhile, he warned that regulating AI will be difficult because the US-China rivalry has made the technology critical to the "weapons race, medical race, self-driving race, financial race." "We are always conscious and worried about the biggest exposures of the fund," Tangen told Reuters separately.
Persons: Nicolai Tangen, Tangen, wouldn't Organizations: Service, Apple, Meta, Microsoft, Nvidia, Tesla, Financial Times, Reuters Locations: Wall, Silicon, China
Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. The drill is the latest in a flurry of Chinese activity in the Middle East, traditionally seen as the US’ backyard. According to the Wall Street Journal, the US wants Saudi Arabia to distance itself economically and militarily from Beijing in return. Four of the top 10 importers of US arms are Gulf Arab states: Saudi Arabia, Qatar, Kuwait and the UAE. Some of these purchases were driven by US restrictions on selling arms to Gulf states under the Biden administration, according to Alhasan.
Persons: ” Hasan Alhasan, , Barack Obama’s, , Mohammed Baharoon, John Calabrese, , ” Calabrese, CNN’s Becky Anderson, Reema bint Bandar Al Saud, Washington, Biden, Alhasan, China’s, Xi Jinping, ” Yun Sun, ” Alhasan, ” Baharoon Organizations: UAE CNN, United Arab Emirates, American, Washington, UAE, Middle East, International Institute for Strategic Studies, CNN, Asia Experts, East ., US, Dubai Public Policy Research Center, Middle East Institute, Wall Street Journal, China Program, China, Stimson Center Locations: Abu Dhabi, UAE, United States, China, China’s, Xinjiang, Ukraine, Gulf, Asia, Saudi Arabia, Iran, Yemen, Washington, Dubai, Russia, Saudi, Riyadh, Israel, Beijing, Europe, Arab, Qatar, Kuwait, Sun,
On Thursday, California regulators voted in favor of expanding robotaxi services across the city. On Thursday, regulators at the California Public Utilities Commission voted 3-to-1 in favor of greenlighting the expansion of robotaxi services across the entirety of San Francisco. This signaled their confidence in the safety of driverless vehicles for more than 800,000 citizens. It is this that will linger in the minds of San Francisco's residents as robotaxis go mainstream in the city. This does, of course, pale in comparison with the number of accidents that take place daily in regular vehicles, but it highlights challenges for driverless vehicles nonetheless.
Persons: Cruise, Prashanthi Raman, hasn't, robotaxis Organizations: Morning, Golden, Traffic Safety Administration, California Public Utilities Commission, General Motors, EV, Cruise, LinkedIn, Reuters Locations: Francisco's, California, San Francisco, Silicon Valley
CNN —US consumer prices rose 3.2% for the 12 months ending in July, according to the latest Consumer Price Index, which landed Thursday. “Don’t be fooled by the uptick in [year-over-year] inflation,” noted Julia Pollak, chief economist for ZipRecruiter. Gimme (cheaper) shelter: Shelter (i.e. “Our baseline forecast suggests that year-over-year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-2024,” the researchers wrote. Uncooked beef steak prices rose 2.3% and uncooked ground beef rose 1.5%.
Persons: It’s, Don’t, , Julia Pollak, Joe Brusuelas, ” Brusuelas, , Anna Bahney, Danielle Wiener, Bronner, That’s, Douglas Elliman, Miller Samuel, Spencer Platt, Jonathan Miller, , Read, Biden, Michelle Toh Organizations: CNN Business, Bell, CNN, ZipRecruiter, RSM US, Federal Reserve, Commerce Department, San Francisco, Big Apple, Getty Locations: Manhattan, New York, New York City, China, Silicon
The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. China said on Thursday it is "gravely concerned" about the order and that it reserves the right to take measures. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data.
Persons: Joe Biden, Elizabeth Frantz, Biden's, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Liz Lee, Lincoln, Jonathan Oatis, Cynthia Osterman, Michael Perry Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Chinese Commerce Ministry, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington, Beijing
[1/2] The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. Maksut Shadaev, the head of Russia's ministry of digital affairs, told parliament in December that around 100,000 IT specialists had left Russia in 2022. It is not yet clear whether Volozh's comments may have any bearing on how Russia decides to proceed with the company. One of the sources said "hawks" in state companies believed nothing at all should be paid to foreigners. Two sources said VTB had never been a serious option as a buyer, given sanctions on the state lender.
Persons: Yandex, Maksut Shadaev, Ramzan Kadyrov, Arkady Volozh, Andrei Kostin, VTB, Alexei Kudrin, Alexander Marrow, Polina Devitt, Mike Collett, White, Susan Fenton Organizations: REUTERS, nationalising Nasdaq, Reuters, Yandex NV, Yandex, U.S, Kremlin, Thomson Locations: Moscow, Russia, nationalising, Ukraine, Serbia, Yandex
BRUSSELS, Aug 10 (Reuters) - The European Commission will analyse the U.S. ban on new U.S. investment in China in sensitive technologies as the issue is also important to the European Union's economic security, the EU executive said on Thursday. U.S. President Joe Biden on Wednesday signed an executive order to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems. "We will be analysing the Executive Order closely. We are in close contact with the US administration and look forward to continued cooperation on this topic," a Commission spokesperson said in an email. "We recognise the significance of the topic, which was an important element in the recent Joint Communication on economic security."
Persons: Joe Biden, Foo Yun Chee, Andreas Rinke, Rachel More, Jason Neely, Matthias Williams, Christina Fincher Organizations: European, Wednesday, EU, Member States, Reuters, Thomson Locations: BRUSSELS, China, Russia, Berlin, Brussels
REUTERS/Mike Blake/File PhotoWASHINGTON, Aug 7 (Reuters) - Two tech groups on Monday backed TikTok in its lawsuit seeking to block enforcement of a Montana state ban on use of the short video sharing app before it takes effect on Jan. 1. TikTok, which is owned by Chinese tech giant ByteDance, filed a suit in May seeking to block the first-of-its-kind U.S. state ban, arguing it violates the First Amendment free speech rights of the company and users. TikTok says it "has not shared, and would not share, U.S. user data with the Chinese government, and has taken substantial measures to protect the privacy and security of TikTok users." The law does not impose penalties on individual TikTok users. TikTok estimates 380,000 people in Montana use the video service, or more than a third of the state's 1.1 million people.
Persons: Mike Blake, TikTok, Donald Trump, David Shepardson, Muralikumar Anantharaman, Edwina Gibbs Organizations: REUTERS, Thomson Locations: U.S, Culver City , California, Montana
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUS tech stocks too expensive, portfolio manager sees good value in healthcare and utilities stocksBrian Arcese of Foord Asset Management shares his portfolio positioning and explains why he is cautious on big tech and AI
Persons: Arcese Organizations: Foord Asset Management
"Definitely the moon is going to be a big business," said Prachi Kawade, a senior analyst at NSR, a research-and-consulting company focused on the space market. At first, lunar missions could be limited to a couple of weeks or months in a lunar base camp. Another lead for moon mining is the rare-earth elements that millennia of meteorites crashing into the moon may have left behind. Fly me to the moonHowever, the most lucrative part of the moon market by far is rocket development, said Kawade, who leads NSR's lunar-market report. NASA built its own system for its upcoming Artemis moon missions, the Space Launch System (SLS) mega-rocket with its Orion spacecraft.
Persons: Artemis, Brendan Rosseau, Lockheed Martin, Prachi Kawade, that's, Rosseau, Steve Creech, Creech, Kawade, NASA We're, George W, Bush, Rousseau, landers, Per, NASA's, NASA Ames, Daniel Rutter, Elon Musk's, Artemis III, Musk, NASA isn't, Glenn, III, VIII, Bill Nelson, Svetla Ben, Itzhak, Ben Organizations: NASA, Service, Harvard Business School, SpaceX, Origin, Nokia, Lockheed, General Motors, NSR, Apollo, ESA, Payload, Astrobotic Technology, Rover, Exploration Rover, Polar Resources, Mining, Orion, Elon, Elon Musk's SpaceX, Politico, Artemis, China, Air University Locations: Wall, Silicon, China, Pittsburg, Texas, California, Colorado, Japan, Russia, Latin America, Central Asia, Pakistan
July 28 (Reuters) - U.S. President Joe Biden is planning to sign an executive order to limit critical U.S. technology investments in China by mid-August, Bloomberg news reported on Friday, citing people familiar with the internal deliberations. The order would focus on semiconductors, artificial intelligence and quantum computing, Bloomberg reported, adding that it would not affect any existing investments and would only prohibit certain transactions. Reporting by Ismail Shakil in Ottawa; Editing by Tim AhmannOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Biden, Ismail Shakil, Tim Ahmann Organizations: Bloomberg, Thomson Locations: China, Ottawa
The U.S. tech giant has racked up 2.2 billion euros ($2.5 billion) in EU antitrust fines in the previous decade for practices in breach of EU competition rules, including tying or bundling two or more products together. Teams, which Microsoft added to Office 365 in 2017 for free to eventually replace Skype for Business, soared in popularity during the pandemic especially after it offered video conferencing. Reuters reported earlier this month that the EU antitrust watchdog was set to open a probe after Microsoft declined to offer bigger price cuts on its Office without Teams. German rival alfaview, which last week filed a complaint similar to Slack's with the EU executive, welcomed the EU investigation. EU fines for antitrust violations can go as high as 10% of a company's global turnover.
Persons: Margrethe Vestager, Niko Fostiropoulos, Foo Yun Chee, Sudip Kar, Gupta, David Evans, Jane Merriman Organizations: Microsoft, European Union, European Commission, Salesforce, Skype, Business, Reuters, EU, Commission, Thomson Locations: BRUSSELS, U.S, Europe
When Musk bought Twitter late last year, he laid out a vision for an “everything” app called X, where users could communicate, shop, consume entertainment and more. Musk — who bought Twitter with a company called X Corp. — tweeted on Sunday that X.com now redirects to Twitter. Musk even told followers that tweets should instead be called “x’s.”On Sunday, CEO Linda Yaccarino seemed to confirm Musk’s vision for the company. Elon Musk has officially rebranded Twitter as "X," as he seeks to turn the platform into an "everything" app. And until Musk rolls out significant changes to the platform, observers of the company say ditching Twitter’s well-known brand is a risky move.
Persons: New York CNN — Elon Musk’s, Musk, — Musk, , , It’s, ” Mike Proulx, Forrester, Proulx, , Linda Yaccarino, ” Yaccarino, Elon Musk, Jonathan Brady, Walter Isaacson, texted Isaacson, ” “, ” Musk, he’s, WeChat, Deloitte, Instagram, Joshua White Organizations: New, New York CNN, Twitter, PayPal, Musk —, X Corp, SpaceX, Facebook, Vanderbilt University Locations: New York, China, Arizona, Michigan
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) slipped 0.5%, heading for a weekly loss of 1.8%. Shares of Taiwanese chipmaker TSMC (2330.TW) slumped 3.3%, after the world's largest contract chipmaker flagged a 10% drop in 2023 sales. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents. Brent crude futures were up 0.8% at $80.27 per barrel and U.S. West Texas Intermediate crude futures rose 0.8% to $76.25.
Persons: BOJ, TSMC, HSI, Wanda, Betty Wang, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Tesla, Treasury, Nasdaq, U.S . Federal Reserve, European Central Bank, Bank of Japan, Japan's Nikkei, HK, ANZ, U.S, Australian, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan, China, Beijing, Europe
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.5%, heading for a weekly loss of 1.8%. China's bluechips (.CSI300) dipped 0.2% while Hong Kong's Hang Seng index (.HSI) bucked the trend with a gain of 0.4%. The onshore yuan was 0.2% higher at 7.1674 per dollar after the central bank set a much stronger guidance rate than expected. The U.S. dollar index was little changed at 100.78, after advancing 0.5% overnight, the biggest one-day gain since mid-May. The Australian dollar gave up almost all of its gains made after a strong local jobs data release to hover below 68 cents.
Persons: BOJ, Tesla, TSMC, China's, Wanda, Tony Sycamore, Stella Qiu, Lincoln Organizations: Netflix, Fed, ECB, Treasury, U.S . Federal Reserve, Bank of Japan, Japan's Nikkei, Authorities, Nasdaq, Tesla, IG, Microsoft, Apple, Meta, Federal Reserve, U.S, Australian, European Central Bank, TD Securities, Brent, . West Texas, Thomson Locations: SYDNEY, U.S, Asia, Pacific, Japan
[1/2] Miniatures of people with computers are seen in front of North Korea flag in this illustration taken July 19, 2023. North Korea has previously denied organizing digital currency heists, despite voluminous evidence - including U.N. reports - to the contrary. “North Korea in my opinion is really stepping up their game,” said Hegel, who works for U.S. firm SentinelOne. The cybersecurity-focused podcast Risky Business earlier this week cited two sources as saying that North Korea was a suspect in the intrusion. "I don't think this is the last we'll see of North Korean supply chain attacks this year," he said.
Persons: Dado Ruvic, , JumpCloud, CrowdStrike, Adam Meyers, Tom Hegel, wasn't, Hegel, cryptocurrency, Chainalysis, CrowdStrike's Meyers, Christopher Bing, Raphael Satter, James Pearson, Michelle Nichols, Anna Driver, Bernadette Baum Organizations: REUTERS, WASHINGTON, American IT, Reuters, CrowdStrike Holdings, North, United Nations, U.S, FBI, Thomson Locations: North Korea, Korean, American, Louisville , Colorado, North Korean, New York, Korea, “ North Korea, The U.S, Washington, London
Elon Musk floated an idea for a new line of Tesla products on Wednesday: robotic limbs. While updating investors on Tesla's second-quarter performance on Wednesday, the billionaire entrepreneur floated an idea for a new line of Tesla products: robotic limbs. The Tesla Bot would be 5-foot-8, walk 5 miles-per-hour, be powered by AI and cameras, and be able to relieve humans of the drudgery of factory work and other manual labor, Musk said. A Tesla Bot rendering. As for Optimus, Musk said on Wednesday that he's confident that the robots will be doing "something useful" in Tesla factories come next year.
Persons: Elon Musk, Tesla, Musk, Neuralink, he's Organizations: SpaceX, Twitter, Reuters, Optimus, Tesla
WASHINGTON, July 19 (Reuters) - China does not want a trade or tech war but will definitely respond if the United States imposes more curbs on its chip sector, China's ambassador to Washington said on Wednesday. Xie referred to reports that Washington is considering an outbound investment review mechanism, and further prohibition on the export of AI chips to China. "China, definitely ... will make our response. We don't want ... a trade war, technological war, we want to say goodbye to the Iron Curtain as well as the Silicon Curtain." She said the order would enacted in a transparent way, through a rule-making process that would allow public input.
Persons: Xie Feng, Xie, There's, Biden, Janet Yellen, David Brunnstrom, Grant McCool Organizations: Aspen Security, China, Labor Day, Micron Technology, Cybersecurity Administration, Micron, Treasury, Thomson Locations: China, United States, Washington, U.S
BASRA, Iraq, July 19 (Reuters) - Iraq secured its $27 billion oil deal with France's TotalEnergies (TTEF.PA) last week by offering quicker, less risky payback through greater revenue-sharing, a model it could replicate in the future to lure investors. The new deal is designed to allow Total to take a portion of revenues from the Ratawi oil field in Iraq's oil-rich Basra region and use them to help finance three other projects, two senior Iraqi oil officials said. In the end, Total took a 45% share while the state-owned Basra Oil Company took 30% and QatarEnergy 25%. Revenues will be split according to those stakes, one of Iraq's senior oil officials said. Iraq's oil officials said the model could be replicated in the future but that would be considered on a project-by-project basis.
Persons: France's, Aref Mohammed, Silvia Aloisi, Timour Azhari, Elaine Hardcastle Organizations: Exxon Mobil, Shell, BP, Total, Reuters, Basra Oil Company, Thomson Locations: BASRA, Iraq, U.S, Basra, Ratawi, Saudi, Iraqi, Timour Azhari, Baghdad, Paris
The Artemis program marks the first time since the Apollo program that an effort to send humans to the moon has been supported by two successive US presidents. Some, like Japan-based iSpace and US-based Astrobotic, are developing commercial lunar landers and have plans to eventually collect lunar resources, such as water or minerals. Just as the United States is leveraging commercial developments, the US is working with international partners, as well. The United States is also seeking international support for the Artemis Accords, a set of principles for responsible lunar exploration and development. It's worth noting that China's lunar program also emphasizes international engagement.
Persons: it's, Artemis, Christina Hammock Koch, Reid Wiseman, Victor Glover, Jeremy Hansen, Wang Yaping, Gene Kim, Bill Nelson Organizations: Service, NASA, European Space Agency, SpaceX, Companies, Canadian Space Agency, United Nations, US Space Force, Air Force Research Laboratory, Oracle, Military, Artemis Accords, United, United Arab Emirates, Lunar Research Locations: China, Wall, Silicon, Japan, United States, Soviet, Europe, Canada, United Kingdom, Rwanda, Nigeria, United Arab, India, Russia, Sweden, France, Italy, Pakistan, United Arab Emirates
New York CNN —Bulls and bears have always engaged in battle on Wall Street. Before the Bell: Why is there a growing division between bulls and bears? If a rally continues, the bulls will say that the bears missed it. If it moves in the other direction, in a swift fashion, then the bears will say that the bulls were overly optimistic. “I don’t know if it’s going to lead to a soft landing, a mild recession or a hard recession,” Dimon said during the call.
Persons: Liz Young, Bell, Young, we’re, Jamie Dimon, I’ve, Matt Egan, Dimon, JPMorgan Chase, “ tailwinds, ” Dimon, ” Jeremy Barnum, ” Barnum, Coco Chanel ’, Ellie Stevens, Shein, , Coco Chanel, Yves Saint Laurent, Xu Yangtian, Chris Xu, “ SHEIN, Organizations: CNN Business, Bell, New York CNN — Bulls, Big Tech, JPMorgan, CNN, JPMorgan Chase, First Locations: New York, Ukraine, First Republic, California
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