Bank shares in the US witnessed a steep fall on Tuesday after ratings firm Moody’s Corporation (MCO) cut the ratings of various US bankers. Moody’s downgraded the credit ratings of multiple small-and medium-sized US banks and issued similar warnings to various big Wall Street lenders. The agency lowered the ratings of ten banks, including Pinnacle …
Continue reading “Moody’s Cuts 10 US Bank Ratings, Warns Others of Potential Downgrade”
A senior Audi executive has released warnings claiming the semiconductor shortages in Germany’s car industry will take years to alleviate despite chipmakers establishing factors in the country. The automotive industry took a hit during the global COVID-19 pandemic, as it led to chip shortages. Since cars use large amounts of chips, from brake sensors and …
Continue reading “Chip Shortage in Germany Will Take Years to Overcome”
Preliminary findings from a landmark Swedish trial indicate that artificial intelligence (AI) is aiding radiologists in more efficiently detecting breast cancer cases. Scientists discovered that AI-supported breast screening detected 20% more cancers than the traditional method of two radiologists double-reading mammograms. Derived from a study of over 80,000 women, these results were recently published in …
Continue reading “Breast Screenings Using AI Boost Cancer Detection”
Amidst rising geopolitical rivalry, President Joe Biden signed an executive order on August 9 to curtail U.S.-based investments in select Chinese technology sectors. The move, while targeted, highlights an intensifying rivalry between the world’s leading superpowers. The order primarily encompasses advanced computer chips, microelectronics, quantum information technologies, and artificial intelligence. Senior U.S. officials have framed …
Continue reading “Biden’s New Order Limits U.S. Investments in Chinese Tech”
OpenAI is staring at a looming financial crisis. A report from Analytics India Magazine states that the company is on the brink of bankruptcy, primarily because of the overwhelming operating costs of its flagship AI chatbot, ChatGPT. Sam Altman’s AI development studio invests $700,000 daily to support ChatGPT’s ongoing mission to advance generative AI. This …
Continue reading “OpenAI’s $700K Daily Drain – Bankruptcy Looms?”
In a twist that could reshape the tech landscape, Microsoft has come under the scrutiny of European antitrust authorities. The European Commission’s announcement comes after a formal complaint from Slack, now a part of Salesforce, back in 2020. It’s a classic tale of rivalry and intrigue, where accusations of unfair competition are now under the …
Continue reading “Microsoft Faces European Antitrust Investigation Over Teams Software”
EU countries unite to curtail the power of Big Tech companies through a pioneering agreement known as the ‘Data Act.’ Following seven hours of intense negotiations between EU lawmakers, this groundbreaking pact seeks to safeguard European consumer and corporate data, aiming to level the playing field and rein in the dominance of US tech giants. …
Continue reading “Eu Countries Agree on the New ‘Data Bill’ to Curb Power of Big Tech Companies”
In a quest for a more sustainable tomorrow, the US government is putting the pedal to the metal, steering the automotive industry towards a revolutionary transformation. Proposing sweeping changes in auto emissions standards, the stage is set for electric vehicles (EVs) to take the limelight, propelling toward a greener and cleaner future. By 2032, a …
Continue reading “The US Government’s Ambitious Emission Rules May Boost EV Sales”
In today’s interconnected world, where lives revolve around smartphones and digital devices, safeguarding personal information has become more critical than ever. Recognizing this, the Federal Bureau of Investigation (FBI) has issued a vital warning to consumers, shedding light on the potential risks linked to using public phone charging stations. These public USB stations, commonly found …
Continue reading “FBI Issues Warning About Public Phone Charging Stations”
Elon Musk’s announcement of the rebranding of the world-renowned social media platform ‘Twitter’ as ‘X’ sent shockwaves across the world. Stepping away from the iconic blue bird logo and the platform’s well-established name, Musk aspires to create an innovative ‘everything app’ that transcends traditional social networking boundaries. Musk’s ambitious vision for X extends far beyond …
Continue reading “Twitter to X: The ‘Everything App’ of the Future”
