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☆ California agency to vote on San Francisco robotaxi expansion amid heavy opposition
▼ + stars: | 2023-08-10 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +3 min

A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company's headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. REUTERS/Heather Somerville/File PhotoSAN FRANCISCO, Aug 10 (Reuters) - Amid strenuous pushback from San Francisco officials and many residents, a California state agency is set to vote on Thursday on a proposal to allow the city to be blanketed in self-driving taxis at all hours. But the vote at the meeting that begins at 11 a.m. PDT (1800 GMT) comes amid vigorous opposition from transportation and safety agencies in San Francisco. The CPUC has twice delayed the vote, in part because of the mounting opposition. Outfitted with spinning sensors, Waymo and Cruise vehicles are an arresting sight around San Francisco, particularly to visitors unaccustomed to cars with no human driver behind the wheel.

Persons: Heather Somerville, Cruise, Waymo, Greg Bensinger, Jamie Freed Organizations: General Motors Corp, REUTERS, FRANCISCO, San Francisco, Motors, California Public Utilities Commission, San Francisco Municipal Transportation Agency, Thomson Locations: San Francisco, California, U.S, San

☆ UK retailer John Lewis boosts AI capability with Google deal
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

Aug 9 (Reuters) - British retailer John Lewis Partnership has agreed a five-year deal with Alphabet Inc's (GOOGL.O) Google Cloud, enabling it to harness the latest artificial intelligence (AI) and machine learning (ML) technology. The employee-owned partnership, which runs John Lewis department stores and the Waitrose supermarket chain, said on Wednesday the new agreement, which builds on a decade-long relationship with Google Cloud, was worth 100 million pounds ($127 million). Under the expanded agreement, more of the partnership's technology will migrate to Google Cloud. Google Cloud agreed a similar deal with European home improvement retailer Kingfisher(KGF.L) last November. Zak Mian, the John Lewis Partnership's chief transformation and technology officer, said an example was customers using an image scanning feature in their John Lewis App to show its home design stylists a room they're looking to furnish.

Persons: John Lewis, Zak Mian, John Lewis Partnership's, Prerna Bedi, James Davey, Nivedita Bhattacharjee, Sachin Ravikumar Organizations: John, John Lewis Partnership, Google, Waitrose, Thomson Locations: Bengaluru, London

☆ Lebanon moves to ban 'Barbie' film for 'promoting homosexuality'
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, Aug 9 (Reuters) - Lebanon's culture minister moved to ban the film "Barbie" from cinemas on Wednesday, saying it "promotes homosexuality" and contradicts religious values. Mortada's decision said the film was found to "promote homosexuality and sexual transformation" and "contradicts values of faith and morality" by diminishing the importance of the family unit. Lebanon was the first Arab country to hold a gay pride week in 2017 and has generally been seen as a safe haven for the LGBT community in the broadly conservative Middle East. Mawlawi last year took a decision to ban events "promoting sexual perversion" in Lebanon, understood to refer to LGBT-friendly gatherings. In a speech last month, Nasrallah called on Lebanese authorities to take action against materials he deemed to be promoting homosexuality, including by "banning" them.

Persons: Mohammad Mortada, Sayyed Hassan Nasrallah, Mortada's, Bassam Mawlawi, Mawlawi, Nasrallah, Lebanon's, Bechara Boutros, Rai, Ayman Mhanna, Samir Kassir, Mhanna, Margot Robbie, Ryan Gosling, Barbie, Ken, Mattel, Laila Bassam, Gebeily, Toby Chopra, Nick Macfie Organizations: Hezbollah, Reuters, Thomson Locations: BEIRUT, Lebanon

☆ Apple’s market value drops $180 billion in less a week. Here's why Wall Street is overreacting
▼ + stars: | 2023-08-09 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Around $180 billion of Apple's (AAPL) market value has been incinerated since the tech giant reported quarterly results last week — a reaction we consider overblown for this own-it, don't-trade-it stock. Apple's market cap is now under $3 trillion after a string of losses before and after last week's earnings. AAPL YTD mountain Apple's YTD performance Late last Thursday , Apple posted strong Services sales, but missed on Products. Overall revenue for the company's fiscal third quarter of $81.8 billion fell 1% year-over-year but beat out expectations of $81.69 billion. Apple shares received a rare downgrade from Wall Street following the earnings numbers.

Persons: Apple, Barton Crockett, Crockett, Jim Cramer, Jim, Tim Cook, Morgan Stanley, Jim Cramer's Organizations: Products, Apple, Rosenblatt Securities, Big Tech, Silicon, JPMorgan, Bears, CNBC, Getty Locations: Tuesday's, U.S, Cupertino , California, Big Tech, India, Shanghai, China

☆ Warner Bros movie 'Barbie' ticket sales top $1 billion
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, Aug 6 (Reuters) - Box-office ticket sales of the movie "Barbie" topped $1 billion in the United States and worldwide since its debut more than two weeks ago, Warner Bros. Pictures, a unit of Warner Bros. Discovery (WBD.O), announced on SundayIn a statement, Warner Bros. said the movie took in $459 million from domestic theaters and another $572.1 million overseas over the weekend, for a total of $1.0315 billion. "As distribution chiefs, we're not often rendered speechless by a film's performance, but Barbillion has blown even our most optimistic predictions out of the water," said Jeff Goldstein, president of domestic distribution for Warner Bros. Pictures, and Andrew Cripps, president of international distribution. "Barbie" ticket sales ranked second this year to "The Super Mario Bros," which was released in April and raked in a total of $1.357 billion at the box office. Reporting by Gertrude Chavez-Dreyfuss; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: we're, Jeff Goldstein, Andrew Cripps, Oscar, Greta Gerwig, Margot Robbie, Ryan Gosling, Barbie, Ken, Mattel, Mario Bros, Gertrude Chavez, Dreyfuss, Leslie Adler Organizations: Warner Bros . Pictures, Warner Bros ., Warner Bros, Thomson Locations: United States

REUTERS/Heather Somerville/File PhotoAug 3 (Reuters) - Cruise, General Motors' (GM.N) robotaxi unit, said on Thursday it had signed the driverless car industry's first labor union agreements, a significant milestone as unions and robotaxi firms have historically been at odds. The company is partnering with two local San Francisco union chapters that represent electrical workers and janitors, the International Brotherhood of Electrical Workers Local 6 and Service Employees International Union Local 87. Reuters could not definitively determine if these are the driverless car industry’s first union agreements. Cruise, which offers limited service in San Francisco with a fleet of Chevrolet Bolts fitted with driverless technology, has accumulated over 3 million driverless miles, the company said. Reporting by Anna Tong in San Francisco; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Heather Somerville, ”, John Doherty, Cruise, Anna Tong, Leslie Adler Organizations: General Motors Corp, REUTERS, General Motors, San, International Brotherhood of Electrical Workers, Employees International Union Local, Reuters, United Auto Workers, Detroit Three, GM, Chevrolet Bolts, California’s Public Utilities Commission, Thomson Locations: San Francisco, California, U.S, IBEW

☆ Morning Bid: Will August retain July's heat?
▼ + stars: | 2023-07-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

August 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian stocks have closed the books on a July that ran fairly hot, and not just with respect to temperatures. On Tuesday, Australia's central bank is expected to follow in the footsteps of its global peers by hiking its policy rate by 25 basis points. Both reports should provide further clarity on the effects of the Federal Reserve's restrictive monetary policy on the world's largest economy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Stephen Culp, Wall, Deepa Babington Organizations: CSI, Asia Pacific, Nikkei, China PMI, Bank of Japan's, Caterpillar, Institute for Supply, Labor, Reserve Bank of, Global, PMI, Thomson, Reuters Locations: Japan, China, Australia's, United States, India, Korea

☆ 'Barbenheimer' box office sales keep rolling in second weekend
▼ + stars: | 2023-07-30 | by ( Nicholas P. Brown | ) www.reuters.com time to read: +2 min

July 30 (Reuters) - Warner Bros' (WBD.O) "Barbie" showed no signs of slowing down in its second weekend at the box office, and was set to haul in $93 million in ticket sales Friday through Sunday, according to estimates from media analytics firm Comscore. 1 movie, and the highest-grossing opening weekend for a film directed by a woman - has made more than $351 million in the U.S. and Canada since opening on July 21, and nearly $775 million globally, Comscore reported. The two films together have been dubbed "Barbenheimer," a nod to the relative rarity of two blockbusters opening the same weekend. Their combined sales are "absolutely mind blowing," Dergarabedian said, with second-weekend numbers that "would have been hailed as opening weekend wins." Universal's Oppenheimer has made $174 million in the U.S. and Canada so far, and $400 million worldwide.

Persons: Barbie, Greta Gerwig's, Margot Robbie, Ryan Gosling, Ken, Ynon, Oppenheimer, Christopher Nolan's, Robert Oppenheimer, Paul Dergarabedian, Dergarabedian, Universal's Oppenheimer, Robbie, Nicholas P, Brown, Peter Henderson, Aurora Ellis Organizations: Warner Bros, Mattel, Hollywood, Guild of America, SAG, Thomson Locations: U.S, Canada

☆ Waymo to focus on ride-hailing services, pushes back autonomous trucking efforts
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Alphabet Inc's (GOOGL.O) Waymo is focusing on its ride-hailing service, Waymo One, while pushing back its efforts to develop commercial autonomous trucking technology, the self-driving unit said on Wednesday. The company said it is seeing significant growth and demand for ride-hailing services in San Francisco, Phoenix and Los Angeles, and is focusing on achieving commercial success in the business. Waymo said it will continue its collaboration with strategic partner Daimler Truck North America to take its autonomous trucking platform forward. The unit's Waymo Driver technology is used in a variety of use cases, from ride-hailing to trucking. "We continue to see a significant future commercial opportunity for our trucking solution alongside other commercial applications of the Waymo Driver," Waymo said.

Persons: Waymo, Akash Sriram, Pooja Desai Organizations: Daimler Truck North, Thomson Locations: San Francisco, Phoenix, Los Angeles, Daimler Truck North America, Bengaluru

Microsoft is set to shed about $100 billion from its market capitalization if the loses hold until close of trading. "The tech earnings season has started on a mixed note," said Mark Haefele, global wealth management chief investment officer at UBS in a client note. "The tone set by quarterly results over the next week will be crucial to the performance of tech stocks through the rest of the third quarter." Large tech companies, which rely heavily on borrowed money, have been pressured since the Fed started its tightening cycle to tame inflation. However, optimism over AI and hopes that the Fed is nearing the end of its rate hiking cycle have supported tech stocks in recent months.

Persons: Lucy Nicholson, Paul Nolte, Murphy, Sylvest, Mark Haefele, Wall, Stuart Cole, Bernstein, Mark Shmulik, Meta, enviously, Shmulik, Shreyashi Sanyal, Amruta, Lucy Raitano, Johann M Cherian, Amanda Cooper, Saumyadeb Organizations: Los Angeles , California U.S, REUTERS, Microsoft, Google, UBS, Apple Inc, Amazon.com Inc, Fed, Equiti, Federal Trade Commission, Amazon, Inc, Facebook, Thomson Locations: Los Angeles , California, U.S, HK, Bengaluru, London

☆ Nidec's acquisitive CEO hails new Japan rules aimed at making takeovers easier
▼ + stars: | 2023-07-23 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +3 min

[1/2] Nidec Corp's logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. Nagamori welcomed the prospect of Japan becoming more receptive to unsolicited bids. Because unsolicited bids are seen as taboo, Nidec has typically focused on buying and turning around money-losing companies, he said, but "that takes time". In corporate Japan, unsolicited bids have been seen as too adversarial. he said, referring to Nidec's tender offer price with an 80% premium.

Persons: Kim Kyung, Shigenobu Nagamori, Nagamori, Nidec, Makiko Yamazaki, Miho Uranaka, Robert Birsel Organizations: REUTERS, Thomson Locations: Tokyo, Japan, TOKYO

[1/2] The roof of a Pfizer facility shows heavy damage after a tornado passed the area in Rocky Mount, North Carolina, U.S. July 19, 2023. ABC Affiliate WTVD via REUTERSJuly 21 (Reuters) - Most of the tornado damage at Pfizer Inc's (PFE.N) Rocky Mount, North Carolina plant was to the warehouse and not manufacturing facilities, CEO Albert Bourla said on Friday, easing concerns about long-term drug shortages from the plant. Nonetheless, Bourla told a news conference in Rocky Mount that it will be a monumental task to repair the damage. "We are moving full speed to bring this manufacturing plant into action again," Bourla said, noting that crews were working to restore power to the plant. The Rocky Mount plant is one of the largest factories for sterile injectable medicines in the world.

Persons: Albert Bourla, Bourla, Soumi Saha, Saha, Lisa Mulloy, Erin Fox, David Ljunggren, Michael Erman, Shivani Tanna, Rami Ayyub, Doina Chiacu, Cynthia Osterman, Diane Craft Organizations: Pfizer, ABC, WTVD, REUTERS, Pfizer Inc's, U.S, American Society of Health, System Pharmacists, U.S . Food, Drug Administration, FDA, Premier Inc, University of Utah Health, Thomson Locations: Rocky Mount, North Carolina, U.S, Rocky, Bengaluru

How much more will arrive in the market of last resort depends on China, which is stepping up imports of refined zinc. China's refined zinc imports, exports and net tradeCHINA FLIPS BACK TO NET IMPORTERChina imported 45,329 metric tons of refined zinc in June, the highest monthly tally since May 2021. The country exported 81,000 metric tons of zinc in 2022, including shipments of 7,800 metric tons to Mexico and 3,400 metric tons to the United States, two destinations that haven't in the past featured in China's zinc trade. The country's monthly refined zinc production has been notching double-digit growth rates since March. So far, however, there is scant evidence of a significant build of surplus metal in the mainland market.

Persons: It's, Paul Simao Organizations: London Metal Exchange, China, Shanghai Futures Exchange, Shanghai Metal, International, Study, Reuters, Thomson Locations: Singapore, Asian, contango, China, CHINA, Mexico, United States, backwardation, Shanghai, Europe, Antwerp

☆ Everything's pink: How Barbiecore fashion has fueled a movie's buzz
▼ + stars: | 2023-07-20 | by ( Lisa Richwine | ) www.reuters.com time to read: +4 min

There are Barbie sneakers, Barbie backpacks, Barbie swimsuits, and Barbie hoodies for your dog. A few months later, photos showed Barbie movie star Margot Robbie on set in a hot pink Western jumpsuit. As the style took off, fashion magazines chronicled celebrities from Kim Kardashian to Harry Styles in bright Barbiecore outfits. Barbie-inspired foods include an ice cream flavor and a Barbie burger with pink sauce sold at Burger King in Brazil. Robbie, who rotated through Barbie-inspired looks during the movie's publicity tour, even rolled pink suitcases through the airport in Sydney.

Persons: Mattel Inc's, Barbie, Barbie swimsuits, Barbie hoodies, Richard Dickson, Couture, Valentino, Margot Robbie, Madeline Hirsch, Hirsch, Kim Kardashian, Harry Styles, Kendra Scott, Dreamhouse, Robbie, Ryan Gosling, Ken, Rich Daughtridge, Christopher Nolan's, Oppenheimer, Tom Cruise's, Filmgoers, Jeff Bock, Bock, Lisa Richwine, Rollo Ross, Sarah Mills, Mary Milliken, Rosalba O'Brien Organizations: Mattel, InStyle, Balmain, Old Navy, Microsoft, Burger King, Warner Bros, Malibu, Party, Relations, Thomson Locations: ANGELES, French, Burger, Brazil, Sydney, Barbiecore, Maryland, flamingo, Los Angeles, London

☆ Anthropic CEO to testify at US Senate hearing on AI regulation
▼ + stars: | 2023-07-18 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, July 18 (Reuters) - Artificial intelligence startup Anthropic's CEO Dario Amodei will testify on July 25 at a U.S. Senate hearing on artificial intelligence as lawmakers consider potential regulations for the fast-growing technology, the Senate panel scheduling the hearing said on Tuesday. "It’s our obligation to address AI’s potential threats and risks before they become real," said Democratic Senator Richard Blumenthal, the subcommittee chair. "We are on the verge of a new era, with major consequences for workers, consumer privacy, and our society." President Joe Biden met with the CEOs of top artificial intelligence companies in May, including Amodei, and made clear they must ensure their products are safe before they are deployed. The report would help push federal financial regulators to adopt and adapt to AI changes disrupting the industry, Schumer's office said.

Persons: Dario Amodei, Amodei, Yoshua Bengio, Stuart Russell, Richard Blumenthal, Josh Hawley, Joe Biden, Chuck Schumer, David Shepardson, Leslie Adler, Chris Reese Organizations: U.S, Senate, Privacy, Technology, Google, Democratic, Republican, Thomson

☆ BridgeBio's heart disease drug meets late-stage study goal, shares soar
▼ + stars: | 2023-07-17 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

July 17 (Reuters) - BridgeBio Pharma Inc's (BBIO.O) experimental drug for a rare heart disease showed significant improvement in patients in a late-stage study, sending its shares surging 65% on Monday. BridgeBio's drug improved survival by 81% in the study patients compared to 74% on the placebo, and also reduced frequency of heart disease-related hospitalization by 50%. The California-based company also provided additional data comparing it with Pfizer's drug. Acoramidis showed 92% improvement on heart failure test, compared to patients on placebo and Pfizer's drug at 30 months. The additional data suggests that BridgeBio's drug was better than tafamidis in controlling the disease, said TD Cowen analyst Tyler Van Buren.

Persons: acoramidis, Acoramidis, Cowen, Tyler Van, Luca Issi, BridgeBio, BridgeBio's, Khushi, Nivedita Bhattacharjee Organizations: BridgeBio Pharma, Alnylam Pharmaceuticals, Ionis Pharmaceutical, RBC Capital, U.S . Food, Drug Administration, Thomson Locations: U.S, California, Tyler Van Buren, Bengaluru

The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017. A ruling is expected soon in the Musk case. The directors, including Oracle co-founder Larry Ellison, agreed to return the equivalent value of 3.1 million Tesla stock options, according to a court filing. Along with that gain in stock value, stock options awarded to the directors and to Musk rose sharply in value. Tesla had argued it used the stock options to ensure the incentives of directors were aligned with the goals of investors.

Persons: Lucy Nicholson, Tesla, Larry Ellison, Musk, coercing Tesla, Tom Hals, Nick Zieminski, David Evans Organizations: REUTERS, Elon Musk, Oracle, Police, Thomson Locations: Los Angeles , California, U.S, WILMINGTON , Delaware, Delaware, City of Detroit, Wilmington , Delaware

July 13 (Reuters) - A group of Republican U.S. state attorney generals on Thursday warned the country's largest companies that certain workforce diversity policies could be illegal in light of the U.S. Supreme Court's decision effectively striking down affirmative action in higher education. The attorney generals urged the companies to abandon race-based quotas or preferences in hiring, promotion and contracting and threatened legal action "sooner rather than later" if they do not. "Companies that engage in racial discrimination should and will face serious legal consequences," the attorney generals wrote. They were joined by the attorney generals of Indiana, South Carolina and Missouri, among others. But in Thursday's letter, the attorney generals said well-intentioned race discrimination is still illegal.

Persons: Kris Kobach, Jonathan Skrmetti, Harvard University's, Neil Gorsuch, George Floyd, Daniel Wiessner, Alexia Garamfalvi, Alistair Bell Organizations: Republican, U.S, Companies, Apple Inc, Microsoft Corp, Uber Technologies Corp, Harvard, University of North, Federal, Thomson Locations: Republican U.S, U.S ., Kansas, Tennessee, Indiana , South Carolina, Missouri, Albany , New York

☆ Hollywood actors' strike: How would it hit TV shows and movies?
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

LOS ANGELES, July 13 (Reuters) - Thousands of Hollywood film and television actors may go on strike from Thursday, joining writers who walked off the job 11 weeks ago. How would a walkout by the Screen Actors Guild and the American Federation of Television and Radio Artists (SAG-AFTRA) affect viewers' favorite shows and movies? Which films and television shows would be hit? Broadcast networks including Fox (FOXA.O) and Walt Disney Co's (DIS.N) ABC have announced fall lineups heavy with reality shows, which are not affected by the strikes. The same is true for unscripted reality shows such as "Big Brother" and "The Bachelor."

Persons: Walt Disney, Abbott, Fox, Inc's, Lisa Richwine, Dawn Chmielewski, Andrew Heavens Organizations: Screen Actors Guild, American Federation of Television, Radio Artists, Fox, Walt Disney Co's, ABC, Netflix, Thomson Locations: ANGELES, United States, Los Angeles, Korea, India

☆ Exclusive: Bonderman's Wildcat seeks to thwart $2.9 billion Consolidated Communications deal
▼ + stars: | 2023-07-12 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +3 min

Wildcat said it owned 3 million Consolidated Communications shares, equivalent to about a 2.6% stake. The offer was made on April 12 by a consortium led by private equity firm Searchlight Capital, which owns 34% of Consolidated Communications. Consolidated Communications formed a special committee to consider the offer later that month but has not provided an update since. TD Cowen analysts wrote in an April 13 note that they expected Consolidated Communications to accept the deal given its capital needs and operational challenges. But Wildcat argues that any deal should not be for less than $14 per share because the value of Consolidated Communications' investment in its business has yet to be realized.

Persons: David Bonderman, Wildcat, TD Cowen, Tom McConnon, McConnon, Anirban Sen, Greg Roumeliotis, Edwina Gibbs, Jonathan Oatis Organizations: YORK, Wildcat Capital Management LLC, TPG, Consolidated Communications Holdings Inc, Consolidated Communications, Reuters, Searchlight Capital, Consolidated Communications . Consolidated Communications, Apollo Global Management, Lumen Technologies, Sorrento Therapeutics Inc, Thomson Locations: New York, , Illinois, Sorrento

☆ Apple opens store on China's WeChat platform
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. REUTERS/Thomas Peter/File PhotoBEIJING, July 11 (Reuters) - Tencent's (0700.HK) WeChat said on Tuesday that iPhone maker Apple (AAPL.O) had opened a store on its social media platform, marking an expansion of the U.S. firm's retail channels in the world's second largest economy. The announcement by WeChat, China's dominant messaging app which also provides e-commerce, livestreaming and payment services, said users would be able to buy Apple products including iPhones, iPads and Macs from the store. The move by Apple comes as Chinese consumers increasingly turn to social media platforms such as WeChat and ByteDance's Douyin, the Chinese version of TikTok, to shop. China's smartphone sales in the first quarter fell 5% year on year, marking the lowest first-quarter sales figure for the country since 2014, according to data from Counterpoint Research.

Persons: Thomas Peter, WeChat, Tencent, ByteDance's Douyin, Sophie Yu, Brenda Goh, Jacqueline Wong, Jamie Freed Organizations: Apple, REUTERS, HK, Counterpoint Research, Beijing, Thomson Locations: Beijing, China, BEIJING

REUTERS/Amit Dave/File PhotoNEW DELHI, July 8 (Reuters) - An Indian court rejected PepsiCo Inc's appeal against an order that revoked a patent for a potato variety grown exclusively for the New York-based company's popular Lay's potato chips. The authority removed PepsiCo's patent cover after Kavitha Kuruganti, a farmers' rights activist, argued that the company cannot claim a patent over a seed variety. PepsiCo petitioned the Delhi High Court against the revocation of the patent cover. In its order dated July 5, Delhi High Court judge Navin Chawla dismissed PepsiCo's appeal against the authority's decision. In 2019, PepsiCo sued some Indian farmers for cultivating the FC5 potato variety, accusing growers of infringing its patent.

Persons: Amit Dave, Kavitha Kuruganti, Navin Chawla, Kuruganti, Mayank Bhardwaj, Sumit Khanna, Kim Coghill Organizations: REUTERS, PepsiCo, New, ' Rights, Authority, Court, Monsanto, drugmaker Bayer AG, Thomson Locations: Ahmedabad, India, DELHI, New York, Delhi, PepsiCo India, U.S

Companies Equinor ASA FollowMorningstar Inc FollowNEW YORK, July 7 (Reuters) - Oil prices climbed about 2% to a six-week high on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. "OPEC+ production cuts are expected to tighten the market, driving supply deficits in the second half of 2023, supporting higher oil prices," analysts at U.S. financial services company Morningstar said in a note. OPEC will likely maintain an upbeat view on oil demand growth for next year, sources close to OPEC said. Russia's latest pledge to reduce oil exports will not require a similar cut in production, a government source told Reuters. Higher borrowing costs could slow economic growth and reduce oil demand.

Persons: Brent, WTI, Morningstar, Russia's, Vortexa, James Knightley, Janet Yellen, Shadia Nasralla, Sudarshan, Jason Neely, David Evans, David Gregorio Our Organizations: ASA, Morningstar, . West Texas, Organization of, Petroleum, Reuters, Oil, Equinor ASA, U.S . Federal Reserve, ING, U.S . Energy Information Administration, U.S, Treasury, Thomson Locations: Brent, Saudi Arabia, Russia, OPEC, Saudi, Ain, Norway, Mexico, China, Europe, Ukraine, Germany, London, Singapore

☆ China's Alibaba unveils AI image generator to take on Midjourney and DALL-E
▼ + stars: | 2023-07-07 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, July 7 (Reuters) - Alibaba Group Holdings Ltd (9988.HK) announced on Friday an artificial intelligence (AI) image generator, initially available to enterprise customers in beta form, as it ramps up its offerings in the fast-growing AI sector. The image generator, Tongyi Wanxiang, will compete with OpenAI's DALL-E and Midjourney Inc's Midjourney, U.S.-based rivals that have gained a large following worldwide. Alibaba Cloud, recently formed from a massive overhaul that split the Chinese tech major into six units, has also released a ChatGPT-like text generator, Tongyi Qianwen, which was launched in April. Baidu Inc (9888.HK) and SenseTime Group Inc <0020.HK > also recently unveiled AI image generators, although generative AI services have yet to receive regulatory approval for wide distribution in China. The Tongyi Wanxiang image generator, which roughly translates as "truth from tens of thousands of pictures", was revealed at the World Artificial Intelligence Conference in Shanghai on Friday.

Persons: Wanxiang, OpenAI's DALL, Inc's Midjourney, OpenAI's, chatbot, Josh Ye, Edmund Klamann Organizations: Alibaba Group Holdings, HK, McKinsey, Baidu Inc, SenseTime, Artificial Intelligence, Thomson Locations: HONG KONG, U.S, China, Shanghai

HONG KONG, July 7 (Reuters) - Alibaba Group Holdings (9988.HK) and Huawei Technologies Co on Friday showcased new products, including an artificial intelligence (AI) image generator and an AI model upgrade, as Chinese companies jostle for position in the global AI race. Alibaba Cloud, an Alibaba subsidiary, presented at the World Artificial Intelligence Conference in Shanghai an image generator named Tongyi Wanxiang that will initially be available to enterprise customers in beta form. Also on Friday, Huawei demonstrated the third iteration of its Panggu AI model at the start of its three-day annual developer conference in Dongguan. Alibaba's image generator will compete with OpenAI's DALL-E and Midjourney Inc's Midjourney, U.S.-based rivals that have gained a large following worldwide. Alibaba Cloud emerged from a massive overhaul announced in March that split the Chinese tech major into six units.

Persons: OpenAI, OpenAI's DALL, Inc's Midjourney, Alibaba, Josh Ye, Edmund Klamann, Barbara Lewis Organizations: Alibaba Group Holdings, HK, Huawei Technologies, Artificial Intelligence, Huawei, McKinsey, Alibaba, Thomson Locations: HONG KONG, Shanghai, Dongguan, U.S, Shenzhen

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