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Asian traders cheer US rate cut but gains tempered by outlook
Asian traders cheer US rate cut but gains tempered by outlook
by  AFP

Most Asian markets rose Thursday as traders welcomed the Federal Reserve's third straight interest rate cut, though the euphoria was tempered by an indication officials could hold off another reduction any time soon. However, traders have lowered their expectations for a string of further cuts in 2026 after the bank's statement used language used in late-2024 to signal a pause in more rate cuts.

AI's $400 bn problem: Are chips getting old too fast?
AI's $400 bn problem: Are chips getting old too fast?
by  AFP

In pursuit of the AI dream, the tech industry this year has plunked down about $400 billion on specialized chips and data centers, but questions are mounting about the wisdom of such unprecedented levels of investment. Building data centers requires raising significant capital, Luria points out.

Oracle shares dive as revenue misses forecasts
Oracle shares dive as revenue misses forecasts
by  AFP

Shares in business computing giant Oracle fell more than 10 percent on Wednesday on word its revenue missed heady expectations, dampening artificial intelligence euphoria in the market. Oracle's cloud and business computing unit accounted for $8 billion of that revenue, an increase of 34 percent from the same quarter in 2024, according to the earnings report.

Veggie 'burgers' remain on table as EU talks stall
Veggie 'burgers' remain on table as EU talks stall
by  AFP

EU wrangling over whether to give plant-based "sausages" and veggie "burgers" the chop and restrict such labels to meat products will grind on into next year after countries and lawmakers failed to reach a deal on Wednesday. Lawmakers at the European Parliament in October backed a proposal to reserve a list of labels including burger and sausage for foods containing meat.

Not lovin' it: McDonald's pulls Dutch AI Christmas ad
Not lovin' it: McDonald's pulls Dutch AI Christmas ad
by  AFP

US burger chain McDonald's said on Wednesday it had removed an AI-generated Christmas advert in the Netherlands after it was filleted online. McDonald's Netherlands said in a statement to AFP: "The Christmas commercial was intended to show the stressful moments during the holidays in the Netherlands.

Instagram users given new algorithm controls
Instagram users given new algorithm controls
by  AFP

Instagram on Wednesday unveiled a new AI-powered feature that lets users view and adjust the algorithm shaping their Reels feed, calling it a pioneering move toward greater user control.