December 16, 2024

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Latest December 16, 2024

SoftBank CEO Masayoshi Son to Announce $100 Billion US Investment in AI During Trump Meeting

Key Points SoftBank CEO Masayoshi Son will announce a $100 billion U.S. investment in AI and infrastructure. The initiative aims to create 100,000 jobs within four years, aligned with Trump’s presidential term. Son has invested in AI-focused ventures, including OpenAI and chip startup Graphcore. The announcement reinforces Son’s belief in artificial superintelligence and its transformative...

UK Enforces Online Safety Act, Introducing Tough Regulations for Tech Giants

Key Points The U.K.'s Online Safety Act officially took effect, imposing strict regulations on tech companies. Ofcom set a March 2025 deadline for platforms to complete risk assessments and implement safety measures. Violators face fines of up to 10% of global revenue, service blocks, and potential jail time for executives. Additional updates, including AI tools...

European Stocks Decline as China Retail Data Disappoints

Key Points European stocks declined, with Stoxx 600 down 0.19%, as China’s retail sales missed expectations. China’s 3% retail sales growth fell short of the 5% forecast, adding to economic concerns. French bonds suffered amid political instability and Moody’s unscheduled credit downgrade. German Chancellor Olaf Scholz faced a potential confidence vote loss, delaying fiscal support....