WASHINGTON (AP) – Five of the biggest U.S. banks reported record profits on Tuesday, boosted by their trading desks and a remarkably resilient American consumer amid persistent global economic uncertainty.
Warsh says Fed has ‘no tolerance’ for high inflation but provides no hints on next move
HONG KONG (AP) – China’s exports accelerated in June, jumping 27% from a year earlier thanks partly to the boom in artificial intelligence, the customs agency said Tuesday.
DUBAI, United Arab Emirates (AP) – U.S. President Donald Trump on Tuesday backtracked on plans to charge ships for using the Strait of Hormuz, saying Gulf countries would instead invest in the United States. Another wave of U.S. strikes on Iran, and Iranian attacks on shipping and American allies, left an interim peace deal in tatters.
NEW YORK (AP) – No large data centers can be built in New York for up to a year as the state creates rules to protect the environment and its energy grid from the power-hungry facilities fueling artificial intelligence.
BRUSSELS (AP) – A top European Union official on Monday called for limits to be placed on children using social media as a special EU panel looking into the challenge recommended forbidding access for those under 13 until tech companies can prove their platforms are safe.
Excerpts from recent editorials in the United States and abroad:
NEW YORK (AP) – Twelve states challenged Paramount’s takeover of Warner Bros. Discovery on Monday, filing a lawsuit that argues the $81 billion mega merger would “extinguish competition” in Hollywood and threaten jobs across the industry.
SAN FRANCISCO (AP) – Hundreds of economists say in an open letter that institutions “must act now” to address how artificial intelligence could transform the economy and could put many people out of work.
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