AFP
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AI stock boom delivers bumper quarter for Japan's SoftBank
Japan's SoftBank Group reported Tuesday that net profit more than doubled in the second quarter thanks to a boom in AI-related share prices that has fuelled fears of a market bubble. But that has fed concerns of a market bubble that could eventually burst, like the dot-com boom that imploded at the turn of the millennium.
Burger King to enter China joint venture, plans to double stores
US fast-food chain Burger King will rapidly expand its China operations in coming years, its parent company said, selling its controlling stake to form a new joint venture powered by hundreds of millions of dollars in local investment. The latest shake-up follows an announcement last week by Starbucks that it will sell a controlling stake in its China retail operations.
'Demon Slayer' helps Sony hike profit forecasts
Shares in Japanese giant Sony jumped more than five percent Tuesday after it hiked full-year profit forecasts thanks to the latest "Demon Slayer" anime blockbuster. Japanese auto giant Toyota last week also hiked its operating income and net profit forecasts for the current fiscal year.
Sony hikes profit forecasts on strong gaming, anime sales
Japanese giant Sony hiked its full-year revenue and profit forecasts Tuesday on the back of the huge global success of the latest "Demon Slayer" anime blockbuster. "Demon Slayer: Kimetsu No Yaiba -- Infinity Castle: Part 1," the first title in a new trilogy based on the popular manga series, has been a huge hit.
'Western tech dominance fading' at Lisbon's Web Summit
Global tech leaders will pack Lisbon's annual Web Summit from Tuesday to talk Artificial Intelligence, robots and startups -- all under the shadow of tensions over cutting-edge tech and the natural resources needed to build it. Beyond the glossy tech products, global tensions over hi-tech trade, competition and sovereignty will weigh on discussions.
Asian stocks rise as record US shutdown nears end
Most Asian markets rose for the second day in a row Tuesday as US lawmakers edged towards ending a record government shutdown. The prospect of an end to the Washington standoff, which moved into its 41st day Monday, came amid a revival of demand for tech giants despite growing fears of an AI-fuelled bubble.
Concentration of corporate power a 'huge' concern: UN rights chief
A few tech giants accumulating massive power coupled with artificial intelligence is posing huge global rights challenges and needs regulation, the UN human rights chief told AFP in an interview. The fact that tech titans are racing to roll out generative artificial intelligence tools adds to the concern of many experts.
Ukraine, China's critical mineral dominance, on agenda as G7 meets
G7 foreign ministers gather in Canada Tuesday for meetings expected to focus on Ukraine and find consensus on a path forward to end the four-year-old conflict. Trump abruptly ended trade talks with Canada last month -- just after an apparently cordial White House meeting with Prime Minister Mark Carney.
AI agents open door to new hacking threats
Cybersecurity experts are warning that artificial intelligence agents, widely considered the next frontier in the generative AI revolution, could wind up getting hijacked and doing the dirty work for hackers. AI agents are programs that use artificial intelligence chatbots to do the work humans do online, like buy a plane ticket or add events to a calendar.
AFP
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