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Meta share price surges as Facebook’s parent company announces dividend for first time | Business News
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Shares in Facebook’s parent company Meta have soared after it was announced that dividends will be paid to investors for the first time. Stock in the tech giant surged by more than 15% – adding more than £110bn to its valuation. To put this into context, that rise alone is five times higher than the…
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Merger between Amazon and Roomba maker iRobot abandoned over competition concerns | Business News
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Plans by Amazon and vacuum cleaner maker iRobot to merge have been abandoned following concerns that the move would harm competition. The $1.4bn (£1.1bn) deal, which was first announced in August 2022, had previously been approved by UK regulators. But in November the European Commission expressed concerns the online retailer might give iRobot’s products preferential…
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Netflix subscribers surge after crackdown on password sharing | Business News
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Netflix saw a surge in new subscribers at the end of last year, attributed in part to the streaming giant bringing in a ban on password sharing. The crackdown on password sharing, which started last May in a number of countries, hindered people in different households from using the same account. It appears to be…
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Artificial intelligence will affect up to 40% of jobs worldwide, IMF warns | Business News
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Artificial intelligence will affect up to 40% of jobs worldwide, the International Monetary Fund (IMF) has warned. This could rise to 60% of roles in advanced economies like the UK – but it is believed that, in half of these cases, AI will benefit the workforce. In a new report, the IMF warned that AI’s…
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Microsoft briefly overtakes rival Apple as world’s most valuable company | Business News
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Two tech giants are battling it out for the title of the world’s most valuable company. Microsoft had overtaken Apple for the first time since 2021 to become the world’s most valuable firm by market capitalisation – which measures the value and number of a company’s shares. Money latest:‘Huge announcement’ on car finance could see…
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Bitcoin jumps on regulator’s ‘unauthorised’ X post | Business News
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Questions are being raised over security measures at X after hackers were blamed for a fake post on the US financial market regulator’s account that prompted a jump in the value of Bitcoin. Crypto investors were widely anticipating confirmation from the US Securities and Exchange Commission (SEC) this week that it had approved a Bitcoin…
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Music streaming service SoundCloud tunes up for sale | Business News
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The owners of SoundCloud, one of the world’s largest music streaming services, are preparing for a sale that could fetch in excess of $1bn. Sky News has learnt that Raine Group and Temasek Holdings, the Singaporean state investment fund, have begun interviewing investment banks about a prospective auction of the company. Founded in 2007, SoundCloud…
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The New York Times sues OpenAI and Microsoft over copyright infringement | Business News
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The New York Times has become the first major news organisation to sue the makers of the groundbreaking generative artificial intelligence (AI) chatbot, ChatGPT. In a lawsuit filed on Wednesday morning in Manhattan, lawyers for the New York Times alleged Open AI, and its biggest investor Microsoft, unlawfully used its articles to train and create…
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Amazon to launch AI business chatbot named Q | Science & Tech News
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Amazon says it will launch a business chatbot named Q powered by generative artificial intelligence (AI). The announcement, made in Las Vegas at an annual conference the company hosts for its AWS cloud computing service, represents Amazon’s response to rivals who have rolled out chatbots that have captured the public’s attention. San Francisco start-up OpenAI’s…
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Amazon Black Friday strike: Workers in Coventry to walk out as part of international action against retailer | Business News
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Amazon workers in the UK are to go on strike today to coincide with Black Friday – one of the company’s busiest shopping days of the year. More than 1,000 staff at the firm’s warehouse in Coventry are expected to take part in the walkout, the GMB union said, amid a long-running dispute over pay…