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☆ Intesa Sanpaolo gives clients more time to opt out of digital shift
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Intesa Sanpaolo bank logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsROME, Nov 13 (Reuters) - Italy's biggest bank Intesa Sanpaolo (ISP.MI) reopened the deadline for thousands of its customers to opt out of switching to its digital lender Isybank, a document showed, following protests from consumer associations and ruling lawmakers. The complaints prompted Italy's central bank as well as the antitrust authority to look into the way the lender was shifting the clients to the app-based unit. In a note sent to customers on Monday and seen by Reuters, the bank wrote that anyone wanting to remain with Intesa Sanpaolo had until the end of February to say so. The competition watchdog took aim at how Intesa informed account holders of the move, adding it had received more than 2,000 complaints.

Persons: Dado Ruvic, Intesa Sanpaolo, Intesa, Paolo, Letizia, Giorgia Meloni, Carlo Messina's, Giuseppe Fonte, Keith Weir Organizations: REUTERS, Rights, Reuters, Brothers, Thomson Locations: Italy

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsJAKARTA, Nov 13 (Reuters) - TikTok has been holding talks with Indonesian e-commerce companies about possible partnerships, an Indonesian minister said on Monday, a month after Southeast Asia's largest economy banned online shopping on social media platforms. "Some e-commerce companies in Indonesia have talked to TikTok," he said in an interview, citing what the companies' executives told him. It was a particular blow to TikTok, which was forced to close its e-commerce service TikTok Shop. A TikTok Indonesia spokesperson was not available to comment. Until it stopped operations, TikTok Shop was delivering about 3 million parcels a day in Indonesia, sources have said.

Persons: Dado Ruvic, Teten Masduki, TikTok, Tokopedia, Bukalapak, Blibli, Joko Widodo, Shou Zi Chew, Teten, Indonesia's, SEA's, Stanley Widianto, Ananda Teresia, Edwina Gibbs Organizations: REUTERS, Rights, Indonesian, GoTo's, TikTok, YouTube, Meta, Google, Temasek Holdings, Bain & Co, HK, Lazada, Thomson Locations: Rights JAKARTA, Indonesian, Indonesia, Southeast, Singapore

Word "Oil" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Baker Hughes Co FollowTOKYO, Nov 13 (Reuters) - Oil prices eased on Monday, reversing their rally on Friday, as renewed concerns over waning demand in the United States and China dented market sentiment. The U.S. Energy Information Administration (EIA) said last week that crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall. Weak economic data last week from China, the world's biggest crude oil importer, also increased fears of faltering demand. Additionally, refiners in China asked for less supply from Saudi Arabia, the world's largest exporter, for December.

Persons: magnifier, Dado Ruvic, Baker Hughes, Brent, Hiroyuki Kikukawa, Kikukawa, Yuka Obayashi, Shri Navaratnam Organizations: REUTERS, U.S . West Texas, NS, Nissan Securities, U.S . Energy Information Administration, Organization of, Petroleum, Thomson Locations: United States, China, U.S, Iraq, Israel, refiners, Saudi Arabia, Russia

☆ Dollar firm ahead of US inflation data; yen hovers near one-year low
▼ + stars: | 2023-11-13 | by ( Brigid Riley | ) www.reuters.com time to read: +2 min

The Japanese yen remained vulnerable, hovering not far from a one-year low against the greenback as markets remained on watch for possible intervention by Tokyo. The dollar index , which measures the dollar against a basket of currencies, was last mostly flat at 105.80. There was little relief for the yen, however, which has come under pressure from rising U.S. Treasury yields and continued dollar strength. The Japanese currency was trading around 151.58 yen against the dollar on Monday, just under a one-year low of 151.74 hit at the end of October. Elsewhere, sterling stood at $1.2228 to the dollar, firm ahead of UK average weekly earnings data on Tuesday and a CPI reading on Wednesday.

Persons: Dado Ruvic, Jerome Powell, Lenny Jin, Jin, Moody's, Tony Sycamore, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, greenback, Global FX, HSBC, U.S, CPI, Treasury, IG, Bank of Japan, Thomson Locations: United States, Tokyo, U.S, New York

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - The U.S. Treasury Department has sent notices to 30 ship management companies requesting information for more than 100 vessels it suspects of transporting Russian crude oil above the Western oil price cap, according to a source who has seen the documents. It bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap. The price cap has caused a shift in global markets as China and India purchase Russian oil, much of which had traditionally gone to Europe and other markets. A rally in global oil prices this year has meant much of Russian oil has traded above the cap. Reporting by Timothy Gardner; Editing by Richard Valdmanis and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Timothy Gardner, Richard Valdmanis, Grant McCool Organizations: REUTERS, Rights, U.S . Treasury Department, Foreign, Control, Treasury Department, European Union, Thomson Locations: Russia, United States, Washington, Moscow, Ukraine, Australia, China, India, Europe, Western

☆ Japanese yen jumps against dollar
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsNEW YORK, Nov 13 (Reuters) - Japan's yen rose sharply against the dollar on Monday at a time when traders are on red alert for signs of currency intervention by Japanese authorities. The dollar fell to 151.20 yen after hitting a one-year high of 151.92 earlier in the session. Japan intervened to boost the yen in September last year for the first time since the late 1990s when it weakened to 145.89 to the dollar. It then stepped in again in mid-October 2022 after the currency weakened further to a 32-year low of 151.94.

Persons: Yen, Dado Ruvic Organizations: REUTERS, Thomson Locations: Japan

☆ Goldman Sachs forecasts higher returns on commodities
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

[1/2] Oil, miniatures of oil barrels and U.S. dollar banknote are seen in this illustration taken, June 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 13 (Reuters) - Goldman Sachs expects increased returns on commodities over the next 12 months, buoyed by higher spot prices amid easing monetary policy and recession fears while the asset class also strengthens on hedging against geopolitical supply risks. The bank has forecast returns of 21% on commodities over a 12-month horizon on the oil-heavy S&P GSCI Commodity Index, led by returns of about 31% from energy and 17.8% from industrial metals. Commodity returns will also be bolstered by OPEC-driven declines in oil inventories and demand for so-called green metals, primarily from China, Goldman said. In metals, Goldman forecast a sharp tightening in copper and aluminium stocks into the middle of the decade, driving up prices from the second half of 2024.

Persons: Dado Ruvic, Goldman Sachs, Goldman, Brent, Harshit Verma, David Goodman Organizations: REUTERS, U.S . Federal Reserve, European Central Bank, OPEC, Energy, Thomson Locations: China, Bengaluru

☆ Nepal to ban China's TikTok, alleges damaging social impact
▼ + stars: | 2023-11-13 | by ( Gopal Sharma | ) www.reuters.com time to read: +2 min

TikTok app logo is seen in this illustration taken, August 22, 2022. TikTok has already been either partially or completely banned by other countries, with many citing security concerns. Nepal's Minister for Communications and Information Technology Rekha Sharma said the decision to ban TikTok had been made at a cabinet meeting earlier on Monday. "Colleagues are working on closing it technically," Sharma told Reuters. Nepal's neighbour India banned TikTok along with dozens of other apps by Chinese developers in June 2020, saying that they could compromise national security and integrity.

Persons: Dado Ruvic, China's, TikTok, Technology Rekha Sharma, Sharma, Purushottam Khanal, Khanal, Pradeep Gyawali, Gopal Sharma, Sakshi Dayal, Jason Neely, Alexander Smith Organizations: REUTERS, Nepal's, Communications, Technology, Reuters, Nepal Telecom, Communist Party of Nepal, Marxist, Thomson Locations: Nepal, India, Pakistan

☆ U.S. in game of "catch me if you can" with Nvidia on rules - China media
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +3 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. The chip industry newsletter SemiAnalysisas reported earlier that Nvidia plans to release new artificial intelligence chips aimed at the Chinese market less than a month after the U.S. tightened rules on selling high-end AI chips to China. The new rules put a cap on how much computing power a chip can pack into a small size. SemiAnalysis said the new Nvidia chips are called the HGX H20, L20 PCIe and L2 PCIe and the company could announce them on Nov. 16. "It is not difficult to imagine that as long as Washington remains committed to 'choking' China, the game of 'catch me if you can' will continue indefinitely," the newspaper said.

Persons: Dado Ruvic, SemiAnalysis, Robert Birsel Organizations: NVIDIA, REUTERS, Rights, Nvidia, Global Times, U.S, Shanghai, Thomson, Reuters Locations: China, U.S, Washington

☆ Police investigate 'cyber incident' at Australia ports operator
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsSYDNEY, Nov 12 (Reuters) - The Australian Federal Police said on Sunday they were investigating a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states. DP World Australia told Reuters on Saturday that operations at impacted ports were not yet restored. DP World Australia, part of Dubai's state-owned ports giant DP World, operates four container terminals in Australia in Melbourne, Sydney, Brisbane and Western Australia's Fremantle. Home Affairs Minister Clare O'Neil said on Saturday that the government was coordinating a response to the "cyber incident". According to DP World, in the Asia Pacific region it employs more than 7,000 people and has ports and terminals in 18 locations.

Persons: Dado Ruvic, We've, we're, Darren Goldie, Goldie, Clare O'Neil, Sam McKeith, David Gregorio Our Organizations: REUTERS, Rights, Australian Federal Police, Australia, DP, Reuters, Fremantle, Cyber, Twitter, Home Affairs, Thomson Locations: Dubai's, Australia, Melbourne, Sydney, Brisbane, Western, Sydney , Melbourne, Asia

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 9 (Reuters) - OpenAI's announcement on artificial intelligence "apps" do not spell the death knell for nascent startups building AI products, two OpenAI investors said at a Reuters NEXT conference on Thursday. Investors are still hunting for new AI products that could help consumers interact better with the technology and address deep tech issues such as brain computer interface, they said. We're in an intermediary step in a decades-long revolution," Konstantine Buhler, partner at Sequoia Capital, told the conference. Avery Klemmer, investor at Thrive Capital, which recently increased its investment in OpenAI, also said she sees opportunities for the rise of consumer applications beside ChatGPT. Despite recent frenzied investments into the technology by companies and venture capital firms, analysts and investors say development of AI products is still in the early stages.

Persons: Dado Ruvic, Konstantine Buhler, Avery Klemmer, ChatGPT, Klemmer, Jill Chase, Krystal Hu, Sayantani Ghosh, Deepa Babington Organizations: REUTERS, Reuters NEXT, Sequoia Capital, Sequoia, Microsoft, Thomson Locations: OpenAI, New York

☆ Booking.com settles Italian tax dispute with 94-million euro payment
▼ + stars: | 2023-11-10 | by ( Emilio Parodi | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMILAN, Nov 10 (Reuters) - Travel website Booking.com (BKNG.O) has agreed to pay about 94 million euros ($100.25 million) to settle a tax dispute in Italy, Genoa prosecutors said on Friday. Italy's Guardia di Finanza tax police alleged in June 2021 that Booking.com evaded 153 million euros of value added tax (VAT) in connection with holiday rentals from 2013 to 2019. Last November, Dutch magistrates accepted a European investigation order (OIE) sent by Italy allowing Italian prosecutors to question two former Booking.com chief financial officers as part of the investigation. Private accommodation sites which are not professionally run often have no VAT number, and Italian tax authorities believe the online travel agency should in such cases act as a withholding agent, collecting tax. In another similar case involving a company's responsibility to collect tax on behalf of tax authorities, an Italian judge on Monday seized 780 million euros from short-term rentals platform Airbnb (ABNB.O).

Persons: Dado Ruvic, Booking.com, Italy's, Toby Sterling, Alvise Armellini, Aurora Ellis Organizations: REUTERS, Apple, Facebook, Italian Revenue Agency, Prosecutors, U.S ., Holdings, Union, Thomson Locations: Italy, Genoa, Booking.com, Netherlands, Friday's, Italian, Delaware, Amsterdam

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 10 (Reuters) - EU countries and European Parliament lawmakers are set to agree on light touch rules for Airbnb (ABNB.O) next week, three people familiar with the matter said on Friday. The rules for short-term accommodation rental services, proposed by the European Commission last year, aimed to tackle the patchwork of different national laws across the 27-country zone regulating Airbnb and similar companies. Officials from EU countries and EU lawmakers will meet to thrash out the final details of the rules on Nov. 15, according to the Parliament agenda. Airbnb said EU-wide rules would be a watershed moment for short-term rental companies. Paris, Venice, Barcelona and other places popular with tourists blame Airbnb for aggravating housing shortages by pushing out lower-income residents.

Persons: Dado Ruvic, Airbnb, Nathan Blecharczyk, Foo Yun Chee, Kirsten Donovan, David Evans Organizations: REUTERS, Rights, Big Tech, European, Reuters, Thomson Locations: Rights BRUSSELS, Spain, Paris, Venice, Barcelona

☆ US bond funds rack up biggest weekly inflow in three months
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 10 (Reuters) - U.S. investors poured a massive sum into bond funds in the seven days leading to Nov. 8 on hopes of a turnaround in Treasury bond prices following the Federal Reserve's decision to keep interest rates unchanged. A report from the U.S. Labor Department indicating a slowdown in job growth in October, also lifted bond prices last week. According to LSEG data, U.S. bond funds amassed a net $3.61 billion worth of inflows during the week, the biggest amount since July 5. Reuters Graphics Reuters GraphicsU.S. high yield bond funds saw a significant boost in demand as they received a net $6.29 billion, the biggest weekly inflow since mid-April 2020. Additionally, large-cap funds saw $930 million worth of net purchases but mid-, and multi-cap funds had outflows of $661 million and $396 million.

Persons: Dado Ruvic, Gaurav Dogra, Patturaja, Toby Chopra Organizations: REUTERS, Federal, U.S . Labor Department, Treasury, Reuters Graphics Reuters Graphics U.S, Investors, Reuters Graphics Reuters, Thomson Locations: U.S, Bengaluru

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 9 (Reuters) - OpenAI's announcement on artificial intelligence "apps" do not spell the death knell for nascent startups building AI products, two OpenAI investors said at a Reuters NEXT conference on Thursday. Investors are still hunting for new AI products that could help consumers interact better with the technology and address deep tech issues such as brain computer interface, they said. We're in an intermediary step in a decades-long revolution," Konstantine Buhler, partner at Sequoia Capital, told the conference. Avery Klemmer, partner at Thrive Capital, which recently increased its investment in OpenAI, also said she sees opportunities for the rise of consumer applications beside ChatGPT. Despite recent frenzied investments into the technology by companies and venture capital firms, analysts and investors say development of AI products is still in the early stages.

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSYDNEY, Nov 9 (Reuters) - Proxy advisor CGI Glass Lewis on Thursday recommended Origin Energy (ORG.AX) shareholders vote in favour of a $10.5 billion bid from a consortium led by Canada's Brookfield (BN.TO), despite opposition from the target's largest shareholder. Brookfield and EIG Partners last week offered a "best and final" A$9.53 per share for Origin after raising a previous bid. Australia's largest pension fund AustralianSuper opposes the offer and intends to use its 15% stake to vote against the deal at a Nov. 23 shareholder meeting. Origin Energy shares traded 1.9% higher at A$8.905 at 2 p.m. AEDT (0300 GMT) and are up 5.1% since the close of trade on Nov. 2, when AustralianSuper rejected the improved offer. Reporting by Scott Murdoch and Lewis Jackson; Editing by Leslie Adler and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Glass, Canada's Brookfield, AustralianSuper, Glass Lewis, Scott Murdoch, Lewis Jackson, Leslie Adler, Jamie Freed Organizations: Brookfield, REUTERS, Rights, Energy, EIG Partners, Services, Origin Energy, Australia Pacific LNG, Thomson Locations: Brookfield, Australia

☆ Euro finds footing on hawkish policy remarks, lower energy prices
▼ + stars: | 2023-11-09 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The Australian dollar fell 0.5% overnight and was last at $0.6405, just above its 50-day moving average. It seems set for its largest weekly fall since June, as the central bank appeared to raise the bar for further hikes after lifting rates on Tuesday. In Asia, China's yuan touched a two-month high in overnight offshore trade. China's consumer prices fell in October, data showed on Thursday, stoking expectations for lower interest rates.

Persons: Dado Ruvic, Gabriel Makhlouf, Joachim Nagel, Jane Foley, Mario Draghi, Brent, Ping, Michael Wan, Jerome Powell, Tom Westbrook, Christian Schmollinger Organizations: REUTERS, Central Bank's, Bank of Japan, Rabobank, Treasury, New Zealand, Canadian, Italian, ECB, Financial, Reuters, Ping An Insurance Group, HK, MUFG, Bank of Israel, Thomson Locations: SINGAPORE, Ireland's, U.S, Asia, Europe, Singapore, East, Gaza City

A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on November 2, 2021. The Austrian law, enacted in 2021 and which obliges Big Tech to publish regular reports of illegal content, comes amid mounting concerns worldwide about hateful posts. The three companies, which have their European headquarters in Ireland, say they should only be subject to Irish rules. The Austrian court subsequently sought advice from the Court of Justice of the European Union (CJEU), which sided with the companies. We will study the judgment and continue to invest in the trust and safety of our users across our platforms," a Google spokesperson said.

Persons: Dado Ruvic, TikTok, Thursday's, Foo Yun Chee Organizations: REUTERS, Rights, Google, Austrian, Big Tech, European Union, Digital Services, Justice, Meta, Thomson Locations: Rights LUXEMBOURG, Ireland, Member State

☆ HSBC to build large personal banking business in India - country CEO
▼ + stars: | 2023-11-09 | by ( Ira Dugal | ) www.reuters.com time to read: +2 min

HSBC Bank logo is seen in this illustration taken March 12, 2023. The bank has long had a retail, or personal, banking business in India, but has not focused on building that up, Dave said. "We intend to build a very large retail, or what we call a personal, banking business." Global banking and markets and commercial banking are the largest contributors to the India business. HSBC India's wealth and personal banking segment, which includes private banking, mortgages and asset management, contributed $35 million or 4.6% to its profit before tax in the first six months of 2023.

Persons: Dado Ruvic, Hitendra Dave, Dave, Ira Dugal, Jan Harvey Organizations: HSBC Bank, REUTERS, Rights, HSBC, Reuters, Global, Thomson Locations: Rights MUMBAI, India, HSBC India

☆ Crypto lender Celsius Network cleared to exit bankruptcy
▼ + stars: | 2023-11-09 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Nov 9 (Reuters) - Crypto lender Celsius Network received U.S. bankruptcy court approval for a restructuring plan that will return cryptocurrency to customers and create a new company owned by Celsius creditors. Crypto lenders BlockFi and Voyager Digital were wiped out in bankruptcy, and cryptocurrency exchange FTX remains stuck in Chapter 11 proceedings. In addition to their stake in the new company, Celsius customers will receive a partial repayment of the cryptocurrency assets they deposited on the platform. Celsius had 600,000 customers who held about $4.4 billion in interest-bearing Celsius accounts when it filed for bankruptcy, according to court documents. The restructuring plan includes a settlement that values Celsius's proprietary crypto token, CEL, at 25 cents.

Persons: Dado Ruvic, Martin Glenn, Michael Arrington, BlockFi, Arrington, Alex Mashinsky, Mashinsky, Dietrich Knauth, Alexia Garamfalvi, Lisa Shumaker, Bill Berkrot Organizations: REUTERS, Bankruptcy, LLC, Arrington Capital, Voyager, Nasdaq, Thomson Locations: Manhattan, New Jersey, New York

☆ Taiwan monitors Chinese carrier group in sensitive Taiwan Strait
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTAIPEI, Nov 9 (Reuters) - Taiwan's military has sent forces to keep watch on a Chinese naval formation led by the aircraft carrier Shandong sailing through the sensitive Taiwan Strait, Taiwan's defence ministry said on Thursday. The Shandong participated in Chinese military drills around Taiwan in April, and again entered the Pacific last month. China says the Taiwan Strait is not an international waterway and that it alone has sovereignty there, which both Taiwan and the United States dispute. As of Thursday morning, the Chinese carrier group was continuing to sail northwards, Taiwan's defence ministry said. The Shandong, commissioned in 2019, also sailed through the Taiwan Strait in June.

Persons: Dado Ruvic, Ben Blanchard, Christopher Cushing, Simon Cameron, Moore Organizations: REUTERS, Rights, United, Thomson Locations: Rights TAIPEI, Shandong, Taiwan, China, United States, Canadian, South, Taiwan Strait

A vial labelled "Novavax V COVID-19 Vaccine" is seen in this illustration taken January 16, 2022. Still, the Maryland-based biotech, which has been banking on cost cuts and commercial sales of its retooled COVID shot to help it stay afloat, reiterated its "going concern warning". The company expects the 2023-2024 U.S. market for COVID shots to be between 30 million and 50 million doses. The company's updated COVID shot, using a more traditional technology than the mRNA-based vaccines of rivals Pfizer (PFE.N) and Moderna (MRNA.O), was authorized in the U.S. in October. Novavax missed out on the COVID vaccine windfall that benefited rivals due to manufacturing issues that delayed its filing for approval when the pandemic was raging.

Persons: Dado Ruvic, Novavax, Jim Kelly, John Jacobs, Jacobs, Bhanvi, Patrick Wingrove, Sriraj Kalluvila, Bill Berkrot Organizations: REUTERS, U.S, Department of Health, Human Services, Pfizer, Moderna, Thomson Locations: Maryland, U.S, United States, Bengaluru, New York

☆ Nvidia plans to release three new chips for China - local media
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Nov 9 (Reuters) - Nvidia (NVDA.O) is planning to release three new chips for China, local media reported on Thursday, weeks after the U.S. blocked it from selling two high-end artificial intelligence (AI) chips and one of its top gaming chips to Chinese firms. One of the company's top-of-the-line gaming chips, the L40S chip, which it announced in August, would also be affected, it said. On Oct. 24, Nvidia said those curbs would take immediate effect, as U.S. regulators had sped up an original deadline. Chinese internet giant Baidu (9888.HK) placed a sizeable order for Huawei AI chips this year, sources have said.

Persons: Dado Ruvic, Baidu, Brenda Goh, Christopher Cushing, Edwina Gibbs Organizations: NVIDIA, REUTERS, Rights, Nvidia, STAR Market, Huawei Technologies, Baidu, HK, Huawei, Thomson Locations: China, U.S, Washington

☆ OpenAI seeks partnerships to generate AI training data
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 9 (Reuters) - ChatGPT maker OpenAI said on Thursday it intends to work with organizations to produce public and private datasets for training artificial intelligence (AI) models. Popular chatbot ChatGPT, which can generate poems and prose from simple prompts, is based on large language models that are trained entirely on open-source data available on the Internet. The company's latest effort could help it produce more nuanced training data that are more conversational in style. OpenAI said it is seeking partners to help it create an open-source dataset for training language models. The company said it is also preparing private datasets for training proprietary AI models.

Persons: Dado Ruvic, OpenAI, Jaspreet Singh, Shilpi Majumdar Organizations: REUTERS, Thomson Locations: Bengaluru

☆ Telecom Italia CEO defends grid deal as top investor threatens legal challenge
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. CEO Pietro Labriola's comments follow criticism from top shareholder Vivendi (VIV.PA), which has threatened a legal challenge to the plan to sell the grid, saying it considered the decision to proceed without a shareholder vote as "unlawful". "It is not possible under the Italian law to transfer such competence to the shareholders," the CEO added. According to Vivendi, the sale required an extraordinary shareholder vote because it would change TIM's corporate purpose and therefore required a change to the company bylaws. Labriola said the deal is "no more than the strict execution of the delayering (business) plan" unanimously approved in 2022.

Persons: Dado Ruvic, Pietro Labriola's, Labriola, Agostino Nuzzolo, Elvira Pollina, Giulia Segreti, Jan Harvey Organizations: Telecom Italia, REUTERS, Rights, Telecom, KKR, Vivendi, TIM, Thomson Locations: Milan

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