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EU, Google to develop voluntary AI pact ahead of new AI rules, EU’s Breton says
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Stalled US debt talks, inflation woes hit stocks
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Bank of England’s Bailey sweats over risk of ‘sticky’ summer for inflation
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Explainer-Why does the UK have such a painful inflation problem?
Oil rises as US gasoline supplies tighten, Saudi says: ‘watch out’
Date: May 23, 2023
Oil rises as US gasoline supplies tighten, Saudi says: ‘watch out’ By Shariq Khan BENGALURU (Reuters) -Oil prices rose on Tuesday on forecasts for a tighter gasoline market and a warning from the Saudi energy minister to speculators that raised the prospect of further OPEC+ output cuts. Brent crude futures rose 85 cents, or 1.1%,...
Cryptoverse: Busy bitcoin births new breed of crypto
Date: May 23, 2023
Cryptoverse: Busy bitcoin births new breed of crypto By Medha Singh and Lisa Pauline Mattackal (Reuters) – Things are heating up on the bitcoin blockchain. Daily transactions have rocketed to an all-time high of 682,000 this month, according to data from Glassnode, almost 40% higher than the previous peak in 2017. Bitcoin’s dominance, or its...
Global shares drop, benchmark US yields ease amid debt ceiling deadlock
Date: May 23, 2023
NEW YORK/LONDON (Reuters) -Global equities retreated and benchmark U.S. Treasury yields eased off two-month highs on Tuesday as talks over the U.S. debt ceiling continued without resolution. Hawkish comments from Federal Reserve officials about the possibility of further rate hikes sent the U.S. dollar to a two-month high. Oil futures extended their rally. Aides for...
Dollar higher as U.S. debt ceiling concerns keep traders nervous
Date: May 23, 2023
Dollar higher as U.S. debt ceiling concerns keep traders nervous By Karen Brettell and Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar hit a two-month high against a basket of currencies on Tuesday as a lack of progress in talks over increasing the U.S. debt limit hurt investors’ appetite for risk-taking. Representatives of...
EU, U.S. to seek stopgap standards for AI – EU tech chief
Date: May 23, 2023
EU, U.S. to seek stopgap standards for AI – EU tech chief By Philip Blenkinsop BRUSSELS (Reuters) – The European Union and the United States are set to step up cooperation on artificial intelligence with a view to establishing minimum standards before legislation enters force, the EU’s tech chief Margrethe Vestager said on Tuesday. The...
BoE’s Bailey says ‘big lessons’ to be learned from UK inflation surge
Date: May 23, 2023
BoE’s Bailey says ‘big lessons’ to be learned from UK inflation surge By William Schomberg and Andy Bruce LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Tuesday the British central bank had “very big lessons to learn”, with inflation still in double digits and food prices rising at the fastest rate since the...