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Major firms warn EU over AI regulation risks
More than 150 leading companies warned the EU's plans to regulate artificial intelligence risk harming Europe's competitiveness and do not go far enough to tackle challenges, in a letter seen by AFP Friday.
EU eyes 3 bn euros a year for Ukraine from Russian asset tax
The European Union could raise three billion euros a year for Ukraine's reconstruction by taxing the interest earned by Russian central bank assets frozen in the bloc, Belgium's prime minister said Friday. EU diplomats say that about 100 billion euros of the Russian central bank assets is in cash, earning roughly 3 percent, and that is what would be subject to the tax.
US Fed's favored inflation gauge declined sharply in May
The US inflation measure most closely watched by the Federal Reserve declined sharply in May, official figures showed Friday, returning to a downward trend after a jump a month earlier. The personal consumption expenditures (PCE) index measure of inflation eased to 3.8 percent year-on-year in May, a significant drop from 4.3 percent a month earlier, the Commerce Department said in a statement.
Orchestra-conducting robot wows audience in S. Korean capital
A South Korean-made robot made its debut as an orchestra conductor before a sell-out crowd in Seoul on Friday, wowing the audience with a flawless performance in place of a human maestro.
IMF and Pakistan reach $3 billion deal
Pakistan could get temporary relief for its ballooning foreign debt with a new deal worth $3 billion, the IMF has announced in Washington. Pakistan needs billions of dollars in financing to service external debt, and foreign exchange reserves have dwindled to just $3.5 billion, roughly enough for three weeks of imports.
Falling energy prices push eurozone inflation down
Eurozone inflation eased further in June as energy costs slid but those of food and drinks remained elevated as underlying price pressures persist, official data showed Friday. According to other Eurostat data published Friday, the unemployment rate in the eurozone remained stable in May at 6.5 percent. raz/rmb/lth
Pokemon Go firm Niantic slashes staff
The maker of mobile game Pokemon Go has said it will slash 230 jobs, almost one-third of its staff, in another blow to the tech industry. Hundreds of thousands of people have lost their jobs in the tech sector over the past year, with firms often blaming over-hiring during the pandemic.
Indian court dismisses Twitter plea on takedown orders
An Indian court on Friday fined Twitter $61,000 after dismissing its plea challenging orders to remove tweets and accounts critical of Prime Minister Narendra Modi's government. At the peak of the coronavirus pandemic in 2021, the government ordered Twitter and Facebook to remove dozens of posts critical of the government's handling of the outbreak.
Strike grounds flights at Geneva airport
A strike paralysed Geneva airport on Friday, grounding flights for two days at Switzerland's second-busiest airport at the start of the busy summer travel season. A number of international flights from North America and the Middle East had been delayed in order to arrive after the initial strike was due to end, according to a tweet by the airport on Friday.
AFP
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