Business

Consumer prices in the United States cooled last month, rising just 0.1 per cent from April to May and extending the past year’s steady easing of inflation. At the same time, some measures of underlying price pressures remained high.  Less volatile core rate coming down, but not as quickly. Consumer …

STRASBOURG, France: European Parliament lawmakers will vote on Wednesday to kick-start talks to approve the world’s first sweeping rules on artificial intelligence (AI) systems like ChatGPT, aiming to curb potential harms while nurturing innovation. Although the European Union’s plans date back to 2021, the draft rules took on greater urgency …

TOKYO: Toyota plans to make an all solid-state battery as part of its ambitious plans for battery electric vehicles (EVs), the company said on Tuesday, amid mounting criticism Japan’s top automaker needs to do more to fight climate change. Toyota Motor Corp. aims for a commercial solid-state battery as soon …

Tuesday will be the final day for all 13 Nordstrom and Nordstrom Rack stores across Canada, the retailer has announced.  Liquidation sales underway but will stop by end of day. Tuesday will be the final day for all 13 Nordstrom and Nordstrom Rack stores across Canada, the retailer has announced. …

ZURICH: UBS is poised to complete on Monday its takeover of Credit Suisse, but integrating the former rival is a Herculean task that clients, employees and Swiss political leaders will closely watch. The coming months are likely to be “bumpy,” warned UBS chief Sergio Ermotti on Friday, adding the integration …

Reddit, the website known as the “front page of the internet,” is making front-page news today, as many communities there have gone private to protest recent changes that would charge third-party apps to access the site’s content — a move developers say would put their applications out of business.  Thousands …

SHIYAN, China: Sales of Yizhuan Automobile Co.’s trash trucks picked up after China ended antivirus controls in December, but their growth is in low gear as managers struggle to rebuild business lost during the pandemic. China’s economy rebounded at the start of 2023, but after a good first quarter, factory …

LONDON: Representatives from business associations and enterprises in the United Kingdom have expressed their strong interest and unwavering confidence in China’s Hainan Free Trade Port (FTP). Speaking at a promotion conference of Hainan FTP held here on Friday, Chinese Ambassador to Britain Zheng Zeguang highlighted that building Hainan FTP is …

BARCELONA, Spain: Shanghai is “the best place in Asia” to host the Mobile World Congress (MWC), a prominent mobile technology fair, Francesc Fajula, chief executive officer of the Mobile World Capital Barcelona Foundation (MWCapital) said here on Friday. MOBILE TECHNOLOGY FAIR Photo taken on Feb. 23, 2021 shows a view …

ISLAMABAD: The Suki Kinari Hydropower project in northwest Pakistan achieved the hoisting of a core component on Saturday, as a 413-ton rotor, crucial to turning water into electricity, was smoothly installed on the last of four generating units. The successful hoisting of the last rotor will help advance the construction …