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Meta Platforms Inc said this past week it was releasing a new large-language model, the main software behind its artificial intelligence (AI) system. It signals a heating up of the AI “arms” race as technology companies scramble to integrate AI into...

Scammers are taking advantage of the recent craze surrounding artificial intelligence (AI) chatbots by launching and selling fake crypto coins named after Microsoft’s chatbot ChatGPT. Blockchain analysis firm Peckshield reported that in the firs...

Hong Kong’s COVID-ravaged economy will return to positive growth territory this year and expand by between 3.5% and 5.5%, as the city opens up and its major trading partner China’s economic prospects improve.The Asian financial hub was buffeted by a...

January retail sales in the US jumped by the most in almost two years, after two straight monthly declines. According to the Commerce Department, retail sales bolted 3% last month, the biggest increase since March 2021.Data reveals that American cons...

The tech industry is reeling from an economic downturn, with many major firms announcing significant layoffs. With two months of 2023 yet to be completed, 108,346 employees from 380 tech companies have been cut in widespread layoffs. This figure alre...

Natural gas prices in Europe have slid to their lowest levels in almost a year and a half, a clear sign that the region has avoided a much-feared energy crisis.Benchmark wholesale gas prices dropped nearly 5% last week to hit $52 per megawatt hour, t...

The UK’s annual inflation rate slid for a third month in a row, with January’s figure relieving pressure on the Bank of England (BOE) to raise interest rates, even though inflation remains in double digits and is close to the highest it has been in f...

In welcome news for crypto investors starved of positive stories, Tether Limited Inc. reported impressive final quarter earnings for 2022. The stablecoin recorded a $700 million net profit.The company had promised to rid itself of all commercial pape...

The Consumer Price Index (CPI) in the US climbed 6.4% in January from a year ago.  This reading showed a marginal slowdown from December's figure, making it the smallest annual increase since October 2021.A rebound in rent and gasoline prices ha...

Tesla stock has skyrocketed 70% in the past month, crushing short sellers who bet against it. Hedge funds that traded against Tesla lost $7.6 billion over the past 30 days, making it the least profitable short of the year so far.In share investing, s...

Major crypto exchange Kraken has agreed to close its US cryptocurrency staking division and pay a $30 million fine to the Securities and Exchange Commission (SEC), which lodged enforcement action against the firm, saying it was selling unregistered s...

Returning Brazilian President Luiz Inácio Lula da Silva has once again raised his concerns about Brazil's benchmark interest rate level, which stands at 13.75%, claiming it is a major drag on the country’s growth prospects.Elected on promises of grea...

China’s economy will expand by 5% in 2023, according to ratings agency Fitch, an improved forecast from the growth forecast of 4.1% the agency had made in December.New data reveals that consumption and activity in China are recovering faster than ini...

Bitcoin edged above $23,000 after Federal Reserve Chair Jerome Powell, speaking at an economics forum, said that inflation was lowering.The world’s biggest cryptocurrency climbed 1% to $23,236.80 while Ethereum rose 1.3% to $1,667.63. Bitcoin had bee...

The EU has slapped a ban on Russian diesel fuel and other refined oil products in a move designed to cut energy dependency on Moscow while also reducing the Kremlin’s fossil-fuel earnings.The ban comes as punishment over Russia’s invasion of Ukraine...