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Nvidia to invest up to $100b in OpenAI, linking two AI titans
Nvidia will invest up to $100 billion in OpenAI and supply it with data center chips, the companies said Monday, marking a tie-up between two of the highest-profile players in the global artificial intelligence race. The move underscores the increasingly overlapping interests of the various tech giants developing advanced AI systems. The deal gives chipmaker Nvidia a financial stake in the world's most prominent AI company, which is already an important customer. At the same time, the investment
Sept. 23, 2025 -
Independence of central banks tested by Trump attacks on US Fed
FRANKFURT, Germany (AFP) -- For months, US President Donald Trump has been piling pressure on the Federal Reserve over delayed cuts to interest rates, casting the institution's independence into doubt. Trump's recent attacks have caused quite a stir as central bank independence is considered a key factor in protecting price stability and investor confidence in a country's economy. Trump has repeatedly called out Fed chair Jerome Powell for not lowering interest rates quickly enough to support th
Sept. 21, 2025 -
TikTok deal gives Americans 6 of 7 board seats: White House
WASHINGTON (AP) — An emerging TikTok deal with China will ensure that US companies control the algorithm that powers the app's video feed and Americans will hold a majority of seats on a board overseeing US operations, the White House said Saturday. A central question to the tug of war between Washington and Beijing has been whether the popular social video platform would keep its algorithm after the potential divestment of Chinese parent company ByteDance. Congress passed legislation calling fo
Sept. 21, 2025 -
Trump's 'inconsistent, regressive' tariff policy will hurt US most: Anne Krueger
US President Donald Trump's inconsistent and regressive tariff policy could hurt the United States the most and undermine its status as a global hegemon, a former senior International Monetary Fund official has said. Anne Krueger, former IMF deputy managing director and former World Bank chief economist, made the remarks during a meeting with reporters in Seoul on Thursday, emphasizing the need for South Korea and other countries to maintain open economies to ensure future growth. "In the short
Sept. 19, 2025 -
Meta unveils AI-powered smart glasses
MENLO PARK, California (Reuters) -- Meta on Wednesday launched $499 Oakley-branded smart glasses for athletes that come with a centered action camera, louder speakers and better water resistance, expanding its wearables beyond the Ray-Ban line that has been an early AI-era hit. Dubbed Oakley Meta Vanguard, the glasses integrate with Meta's AI app and fitness platforms such as Garmin and Strava to deliver real-time training stats and post-workout summaries. They will come with nine hours of batte
Sept. 18, 2025 -
US Fed announces rate cut for 1st time this year, signals 2 more ahead
The US Federal Reserve on Wednesday lowered its benchmark interest rate by a quarter percentage point in the first reduction since December, and signaled two more cuts this year, amid mounting pressure from President Donald Trump to bring it down to help boost the economy. Following the two-day Federal Open Market Committee meeting, the central bank decided to lower the key rate to the 4-4.25 percent range. The cut put the gap between the key rates of South Korea and the United States at up to 1
Sept. 18, 2025 -
US nearly doubles application fee for visa waiver program
The United States will raise the application fee for its electronic travel authorization required for short-term travelers under its visa waiver program starting later this month, the US Embassy in Seoul said Wednesday. The fee for the Electronic System for Travel Authorization will increase from $21 to $40, effective Sept. 30, the embassy said in a posting on X. The measure comes as US authorities tighten visa policies for foreigners, including international students, amid the Trump administrat
Sept. 17, 2025 -
Trump sues The New York Times for defamation, seeks $15b
US President Donald Trump sued the New York Times, four of its reporters, and publisher Penguin Random House for at least $15 billion Monday, claiming defamation and libel, and citing reputational damage, a Florida court filing showed. Trump's suit cites a series of New York Times articles, one an editorial prior to the 2024 presidential election, which said he was unfit for office, and a 2024 book published by Penguin titled "Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Cre
Sept. 16, 2025 -
In trade warning to US, China says Nvidia violated anti-monopoly law
BEIJING (Reuters) -- China on Monday accused Nvidia of violating the country's anti-monopoly law, the latest escalation in its trade war with the United States that has claimed the chipmaker as collateral damage. The statement from China's market regulator was made after what it said was a preliminary probe into Nvidia's business practices, and comes as the two countries hold trade talks in Madrid, where chips are expected to be on the agenda. US Treasury Secretary Scott Bessent called the annou
Sept. 16, 2025 -
US to begin applying 15% tariff on Japanese cars; Korea still faces 25%
US President Donald Trump's administration said Monday it will start implementing a lowered tariff of 15 percent on Japanese automobiles this week in line with a bilateral trade deal. In a notice posted on the Federal Register, the International Trade Administration under the Commerce Department said that the reduced tariff rate will go into effect Tuesday -- an enactment after Trump's signing of an executive order earlier this month to officially implement the deal with Japan. Under the deal, t
Sept. 16, 2025 -
Trump seen again pushing deadline on TikTok sale or divestment
WASHINGTON (Reuters) -- The Trump administration is expected to again extend a Sept. 17 deadline for China's ByteDance to divest the US assets of short-video app TikTok or shut it down, a source familiar with the matter told Reuters. It would be the fourth reprieve granted by President Donald Trump from federal enforcement of a law that originally gave ByteDance until January 2025 to sell or shut down the popular social media platform. Last month, Trump said he had US buyers lined up for the app
Sept. 15, 2025 -
Trump says he does not want to 'frighten off' or 'disincentivize' foreign investments
US President Donald Trump said Sunday that he does not want to "frighten off" or "disincentivize" foreign investments, reiterating he wants foreign firms, which are building semiconductors, ships and other "complex" products, to bring their workers into the United States to train American workers. Trump made the remarks in a social media post amid questions over US credibility as a reliable investment destination as more than 310 South Korean workers returned home on Friday following a week of d
Sept. 15, 2025