The digital ministers of the Group of Seven (G-7) advanced nations have agreed to adopt “risk-based” regulation on artificial intelligence (AI). This comes as European lawmakers rush to introduce the AI Act to enforce rules on emerging tools such as ChatGPT. However, the ministers also emphasized the need to “preserve an open and enabling environment”
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Deutsche Bank has reported a net profit of €1.158bn ($1.28bn) for Q1 2023, beating analyst expectations and marking an 11th consecutive quarter of profit. The bank has been implementing a sweeping restructuring plan since 2019, aimed at cutting costs and improving profitability. CEO Christian Sewing said the results demonstrate the relevance of Deutsche Bank’s Global
Opposition and activism in Russia have long been fraught with risks, but it has become almost impossible in recent years. Political analysts say that opposing the Kremlin and its leader, Vladimir Putin, is “extremely dangerous.” Anton Barbashin, a Russian political analyst and the editorial director of online journal Riddle Russia, notes that all of the
Samsung, the South Korean electronics giant, witnessed a significant decline in its Q1 operating profit as prices for its memory chips continued to fall, and demand remained weak. The company’s revenue for the quarter stood at 63.75 trillion Korean won (approximately $47.6 billion), which is on par with its own guidance. However, it fell below
After suffering from three quarters of revenue declines, Meta, formerly known as Facebook, has seen a boost in their first-quarter sales, thanks to Chinese retailers. The company’s Chief Financial Officer, Susan Li, revealed during their earnings call that the social networking giant experienced a surge in Chinese advertisers targeting users in other markets. The increase
According to the Bank of England’s Chief Economist, Huw Pill, companies and workers are reluctant to accept that they are worse off due to inflation and are trying to pass the impact of inflation onto each other. This behavior risks persistent inflation. In an episode of Columbia Law School and the Millstein Center’s “Beyond Unprecedented”
Japanese lunar exploration company, ispace, recently attempted to land its first cargo mission on the moon. The company’s Mission 1 lunar lander was expected to softly touch down around 12:40 p.m. ET in the Atlas Crater, located in the northeastern sector of the moon. ispace’s uncrewed mission carried scientific research and other payloads, making it
Kristin N. Johnson, a commissioner at the Commodity Futures Trading Commission (CFTC), has stated that the regulatory body is in talks with Binance to address concerns about the cryptocurrency exchange’s conduct. The CFTC has sued Binance, its CEO Changpeng Zhao, and its former chief compliance officer, alleging that the platform solicited US users and allowed
The ongoing conflict in Sudan may spread beyond the country’s borders and have far-reaching consequences, warn analysts, as a new ceasefire seeks to enable Sudanese citizens and foreign nationals to flee. The fighting began 10 days ago as a result of a power struggle between the Sudanese Armed Forces (SAF) under President Gen. Abdel-Fattah Burhan
UBS has reported a 52% decline in net profit for the first quarter of 2019, reaching $1.03 billion. This comes in below analyst expectations of a net profit nearing $1.75 billion for the period. Although these are the bank’s first results since announcing its takeover of rival Credit Suisse, UBS CEO Sergio Ermotti resumed his