Page 384 - Bloomberg

Intel, Micron plans to spend billions on new chip plants outside US

Washington is seeking to strengthen key supply chains outside of China as it works to contain Beijing's geopolitical ambitions

Micron Tech nears $1 billion investment in India's chip packaging plant

An announcement could be made as soon as when Prime Minister Narendra Modi visits the US next week, said the people, who asked not to be identified because the details are private

Shanghai power plant burns 800 tons of coal an hour to keep city cool

A heat wave is scorching China, killing livestock and straining electricity grids across the country. Temperatures in Beijing soared to as high as 39C (102F) on Thursday

China snips key lending rate as economy tumbles; retail sales jump

The People's Bank of China lowered the rate on its one-year loans

AI may add $4.4 trillion annually to global economy, says McKinsey

The research studied 63 use cases for generative AI, the type of tools that can generate content such as text or images based on a prompt, across some 850 occupations

Go First hopes to resume ops by month-end and restore 94% of daily flights

The carrier is also waiting for creditors to approve additional funding, the person said, declining to specify the amount of investment needed

Reliance in talks with lenders for $2 billion loan to fuel expansion

Ambani is raising funds as he continues to build out the telecoms and consumer-facing arms of an empire based on a bedrock of crude-oil refining

Unlikely that the RBI will precede the US Fed in pivoting to a rate cut

RBI Guv Das needs to keep financing conditions easier to aid growth, while also maintaining adequate rate differential to attract foreign portfolio flows

India considers rule changes to bolster $731 billion insurance sector

Insurance penetration remains abysmally low at less than 5% in the country of 1.4 billion people, signaling growth potential for investors

Workers resisting office grind suddenly finding themselves lonely at home

Few companies are insisting on a full-time return to the office, with most preferring hybrid models that allow some flexibility

Biggest fund manager in India expects rupee to end its five-year slide

The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund

India needs better defences to be a digital superpower after data breach

I suspect the government is right and CoWIN is not currently being accessed by hackers. Even so, it seems likely that outsiders have penetrated some aspect of India's digital public infrastructure

Indian among contenders for Dubai's most expensive house for sale

Two people have viewed the home in past three weeks. One is an Indian client who already owns three properties in Emirates Hills; his wife is on the fence, leaning toward something more contemporary

Federal Reserve to pause, keep option to raise interest rates in July

The rate decision and committee forecasts will be released at 2 pm in Washington. Chair Jerome Powell will hold a press conference 30 minutes later

Watch & eat: Netflix's next move is to bring food from screen to table

Fans of Netflix 's culinary shows will soon be able to taste some of their favorite on-screen dishes when the streaming service opens its first pop-up restaurant in Los Angeles later this month

European Parliament passes AI Act, challenging tech giants' power

Lawmakers also passed additional measures for general purpose AI and foundational models like GPT-4

Goldman Sachs sees India holding its own even if China stocks rebound

India has been seen as one of the key beneficiaries as global sentiment toward Chinese equities soured due to a slower-than-expected recovery

Knowledge workers biggest losers of generative AI boom, says McKinsey

Generative AI will give humans a new "superpower", and the economy a much-needed productivity injection, said McKinsey report

India's frequent internet shutdowns hurt its most impoverished, says report

Officials often resort to such closures to stem protests, check communal violence, maintain law and order and even to prevent cheating in school and university exams

Putin admits Russia's shortcomings as Ukraine presses counteroffensive

In the past, Moscow has frequently been accused of exaggerating its battlefield successes, and western officials were quick to portray the Ukrainian push as far more successful