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Ponzi case: US appeals court voids $564 mn verdict against Bank of Montreal

The 3-0 decision by the St. Paul, Minnesota-based court overturned a November 2022 jury verdict, and directed that trustee Douglas Kelley's case against BMO be dismissed

Tech, US officials discuss AI development, power needs at White House

OpenAI CEO Sam Altman, Google senior executive Ruth Porat and Anthropic CEO Dario Amodei were among the tech company representatives who attended the meeting

Major countries must lead in safeguarding global security: China's minister

Dong's remarks come as communications ease between the US and Chinese militaries

Will end all taxes on overtime pay if elected president, says Donald Trump

At a campaign event this month with union workers, Harris accused Trump of "blocking" overtime from millions of workers during his 2017-2021 presidency

US Gulf of Mexico oil firms begin hurricane damage checks, ports reopen

The storm likely disrupted about 1.5 million barrels of Gulf of Mexico production, analysts at UBS estimated, and will reduce the region's monthly oil production by 50,000 bpd

Pope Francis urges leaders in S'pore to seek fair wages for foreign workers

These workers contribute a great deal to society and should be guaranteed a fair wage, he said

USFDA approves injectable version of Roche's multiple sclerosis therapy

The therapy is already approved as an infusion or IV therapy for multiple sclerosis, which is given twice a year, under the brand name Ocrevus

Microsoft names former GE CFO Dybeck as operations chief amid AI push

The appointment comes at a time when Microsoft is aggressively pursuing the lead in the cloud services market and trying to close the gap with Amazon's Amazon Web Services

Top EU privacy regulator opens investigation into Google's AI compliance

A spokesperson for Google said it takes its obligations under the EU's General Data Protection Regulation (GDPR) seriously and will work constructively with the DPC to answer their questions

OpenAI presents new series of AI models with 'reasoning' abilities

The models, dubbed o1 and o1-mini, can reason through complex tasks and solve harder problems than previous models in science, coding and math, the AI firm said

US household wealth rises in Q2 to record $163.8 trn on real estate gains

The snapshot of households' financial wellbeing comes less than a week before the Federal Reserve is widely expected to reduce borrowing costs for the first time since the pandemic recession

Cloud-based productivity software suite recovering after outage: Microsoft

Microsoft's Azure cloud platform had said on X it was probing customer reports of a potential issue connecting Microsoft's services from AT&T networks

GM, Hyundai Motor agree to explore joint vehicle development projects

The US and Korean automakers said they had signed a non-binding memorandum of understanding to consider ways to leverage their complementary scale and strengths to reduce costs

Nokia denies report on moves to replace president, CEO Pekka Lundmark

"The Board fully supports President and CEO Pekka Lundmark and is not undergoing a process to replace him," Nokia said in a statement

Struggling Maldives sovereign bond rallies as country vows to avoid default

Concerns that cash-strapped Maldives could become 1st country to default on Islamic sovereign debt had pushed bond - its only listed international fixed-income instrument - to a record low last month

European Commission rejects minimum price offers from Chinese EV exporters

The Commission declined to give details of the offers, but said it had thoroughly reviewed them to see if they met World Trade Organization and EU anti-subsidy rules

US Treasury reports $380 billion federal budget deficit in August

The deficit for the first 11 months of the 2024 fiscal year reached $1.897 trillion, a 24 per cent increase from a gap of $1.525 trillion in the year-ago period

CCI investigation finds Amazon, Walmart's Flipkart breached antitrust laws

The Competition Commission of India (CCI) in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements

Cloud-based productivity software suite recovering after outage: Microsoft

Microsoft's Azure cloud platform had said on X it was probing customer reports of a potential issue connecting Microsoft's services from AT&T networks

Samsung Electronics workers to continue strike after talks end without deal

Appliances including televisions, refrigerators and washing machines are made at the plant, which contributes 20 per cent to 30 per cent of Samsung Electronics' annual revenue of $12 billion in India