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Major Chinese banks cut deposit rates after reduction in lending rates
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Ford profit disappoints, stock falls 11% as quality issues dog automaker
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UK car output logs fourth consecutive monthly fall in June, data shows
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Reckitt to offload homecare brands, consider nutrition options
As losses mount, CrowdStrike says bug in quality-control process led to botched update
Date: July 25, 2024
By James Pearson LONDON (Reuters) -A software bug in CrowdStrike’s quality-control system caused the software update that crashed computers globally last week, the U.S. firm said on Wednesday, as losses mount following the outage which disrupted services from aviation to banking. The extent of the damage from the botched update is still being assessed....
German cabinet agrees to expand tax relief to boost economy
Date: July 24, 2024
By Christian Kraemer BERLIN (Reuters) -Germany’s cabinet agreed on Wednesday to increase tax relief for companies and households to almost 21 billion euros per year to help bolster stuttering growth in Europe’s biggest economy. Germany was the worst performing major economy last year, with gross domestic product contracting by 0.3%. It skirted a recession at...
Rheinmetall’s profit doubles as defence spending surges
Date: July 24, 2024
By Miranda Murray BERLIN (Reuters) -German arms manufacturer Rheinmetall more than doubled operating profit in the second quarter, driven by a surge in defence spending as a result of Russia’s invasion of Ukraine. The company has been one of the main beneficiaries of the defence boom since the Ukraine war began in 2022. Its...
Meta unveils biggest Llama 3 AI model, touting language and math gains
Date: July 24, 2024
By Katie Paul NEW YORK (Reuters) -Meta Platforms released the biggest version of its mostly free Llama 3 artificial intelligence models on Tuesday, boasting multilingual skills and general performance metrics that nip at the heels of paid models from rivals like OpenAI. The new Llama 3 model can converse in eight languages, write higher-quality...
Oil prices rise as US crude, fuel inventories seen shrinking
Date: July 24, 2024
By Laila Kearney NEW YORK (Reuters) – Oil prices rebounded on Wednesday, snapping three straight sessions of decline, as falling U.S. crude inventories and growing supply risks from wildfires in Canada boosted prices. Brent crude futures for September rose 37 cents, or 0.5%, to $81.38 a barrel by 0343 GMT. U.S. West Texas Intermediate...
Tesla profit margins worst in five years as price cuts, incentives weigh
Date: July 24, 2024
By Hyunjoo Jin, Akash Sriram (Reuters) -Tesla on Tuesday reported its lowest profit margin in more than five years and missed Wall Street earnings targets in the second quarter, as the electric vehicle maker cut prices to revive demand while it increased spending on AI projects. The company said it was on track to produce...