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AI finds previously undetected health risks during sleep studies
We also report on another promising experimental non-opioid pain drug for use following surgery.
Canada's Shopify forecasts revenue above estimates, shares surge
Canada's Shopify projected current-quarter revenue growth above Wall Street estimates on Wednesday, signaling the company's AI efforts were drawing more merchants to its suite of e-commerce services, sending its U.S.-listed shares up 26% premarket.
Disney's 'Toy Story 5' fuels streaming business and merchandise sales for June quarter
Disney said the blockbuster success of "Toy Story 5" extended beyond the box office for the June quarter, as the hit film fueled sales of merchandise, added to engagement on the Disney+ streaming service, and attracted more visitors to its theme parks.
SpaceX slides as AI spending worries overshadow early returns
SpaceX touted faster-than-expected returns from its AI spending on its first-ever earnings call as a public company.
Australia cuts cost of rooftop solar for businesses
Australia will accelerate its transition to renewable energy by cutting the cost to install rooftop solar panels on factories, warehouses, farms and other businesses by around one-fifth, the government said on Wednesday.
South African rand edges up ahead of business activity PMI as risk appetite improves
The South African rand edged up in early trade on Wednesday as a softer dollar and lower oil prices lent support to the risk-sensitive currency, while domestic investors awaited the release of a business conditions purchasing managers' index.
Singapore's UOB to shed asset management arm for $433.5 million to focus on wealth management
Singapore lender United Overseas Bank said on Wednesday that it had agreed to sell its asset management business to a unit of European insurer Allianz for S$555 million ($433.49 million).
India's Manipal Health jumps 10.5% in market debut, valued at $9 billion
India's Manipal Health Enterprises made its market debut at a 10.5% premium on Wednesday, valuing the hospital chain at 857.63 billion rupees ($9.03 billion).
Royals 8, Twins 2: A bad baseball game
The Twins couldn’t hit Randy Dobnak, again, and their pitching and defense was severely lacking.
A.J. Epenesa not inclined to discuss "weird situation" with Browns
Before Eagles defensive end A.J.
SpaceX quarterly revenue surges in debut results on strong growth in its Starlink business
SpaceX reported on Tuesday a 92% rise in revenue for the April-June quarter, in its first earnings since going public, buoyed by strong growth in its Starlink satellite-internet and AI businesses.
SpaceX quarterly revenue surges in debut results on strong growth in its Starlink business
SpaceX reported on Tuesday a 92% rise in revenue for the April-June quarter, in its first earnings since going public, buoyed by strong growth in its Starlink satellite-internet and AI businesses. The company's stock has declined 8% since its record-breaking initial public offering in June that valued the company at about $1.75 trillion. The stock could face additional pressure from the expiry of SpaceX's post-IPO lock-up period starting on Thursday, which may unleash a wave of insider and early-investor shares on the market.
Telegram says Apple suspension followed content norms violation by one user
Apple said its review found the content had violated guidelines prohibiting child sexual abuse material.
Tesla's China footprint complicates path to possible SpaceX merger
Tesla's electric vehicle business in China looms as a key hurdle to a potential merger between Elon Musk's automaker and SpaceX because of complications it could pose for the space firm's business with the U.S. government.
Shifting left, Democrats see universal health care, taxing the rich as 'essential,' Reuters/Ipsos poll finds
Liberal Democrats now make up a clear majority of their party and view universal healthcare, greater abortion access and higher taxes on the rich as essential political positions, underscoring how Democrats have moved leftward in recent years, according to a new Reuters/Ipsos poll.
Telegram says app restored on Apple's App Store
Telegram said on Monday its messaging app has been restored on Apple's App Store, after Reuters checks showed it was not available.
A single US measles outbreak can cost millions of dollars, study estimates
The overall cost of containing a 2025 measles outbreak in New Mexico was nearly $5.4 million, a new study estimates.
Tyson trims annual profit forecast as tight cattle supplies squeeze beef business
Tyson Foods cut its annual profit forecast on Monday, warning that losses in its beef business would widen as tight cattle supplies keep livestock costs elevated.
Emirates NBD Bank to acquire retail banking business of HSBC Egypt
Emirates NBD said on Sunday that its fully-owned subsidiary in Egypt had entered into a definitive agreement to acquire the retail banking business of HSBC Egypt.
For GLP-1 users, the in-store clothes shopping trip is back
Nora Nye, 58, is refreshing her wardrobe as she sizes down for the first time in over three decades after losing 80 pounds on weight-loss drug Mounjaro. Earlier this year, the Denver bankruptcy lawyer walked into a Macy's and found herself overwhelmed.
OPEC+ has agreement in principle for September quota increase and pause thereafter, source says
OPEC+ has agreed in principle to raise oil output targets by about 188,000 barrels per day from September and then pause for the fourth quarter, a source with knowledge of OPEC+ talks said on Sunday.
Focus: Life after Orban: Hungary Inc digs in as new political era takes hold
Hungarian firms and business magnates who leveraged ties to Viktor Orban to build sprawling empires are pivoting to smaller projects as a new ruling party moves to stamp out alleged cronyism.
What we learned as Carson Whisenhunt struggles again in Giants' loss to Padres
Carson Whisenhunt labored through a second consecutive poor outing in the San Francisco Giants' loss to the San Diego Padres on Friday at Petco Park.
Alphabet rolls back AI image generation in Google Earth over policy violations
Alphabet's Google said on Friday it was rolling back an AI image-generation feature it had introduced in Google Earth just a day ago, after users shared images that appeared to violate the company's policies.
FIFA has scrapped $20 billion World Cup sell-off plan, New York Post reports
FIFA's plan to sell a piece of its business empire to outside investors has collapsed following an open revolt by soccer officials worldwide and a major rift among top FIFA executives, the New York Post reported on Friday.
Amgen discloses data breach, says patient information was stolen
Drugmaker Amgen said on Friday hackers stole company data and patient health information in a cybersecurity breach involving cloud storage systems run by third-party providers.
India’s SEBI imposes 14.8 million rupees penalty on Zee Entertainment
July 31 (Reuters) - India's markets regulator on Friday imposed penalties totalling 14.8 million Indian rupees ($155,168.80) on Zee Entertainment Enterprises (ZEEL), Chief Executive Punit Goenka and Founder-Chairman Emeritus Subhash Chandra for secur...
India’s SEBI imposes 14.8 million rupees penalty on Zee Entertainment
July 31 (Reuters) - India's markets regulator on Friday imposed penalties totalling 14.8 million Indian rupees ($155,168.80) on Zee Entertainment Enterprises (ZEEL), Chief Executive Punit Goenka and Founder-Chairman Emeritus Subhash Chandra for secur...
India's SEBI imposes penalty of 14.8 million rupees on Zee Entertainment
India's markets regulator Securities and Exchange Board of India (SEBI) said on Friday it imposed a penalty of 14.8 million rupees ($155,168.80) on Zee Entertainment and its chief executive and chairman emeritus.
Canada's Enbridge postpones plans for second phase of Mainline oil pipeline expansion
Canadian pipeline operator Enbridge said on Friday it was postponing the 250,000-barrel-per-day second phase of its Mainline crude pipeline network, partly due to Canadian oil producers not committing to significant output increases.
India's ITC profit drops as cigarette tax hike hits core business
Indian conglomerate ITC reported a 27% slump in quarterly profit on Friday as fresh cigarette tax hikes dragged down earnings in its core cigarettes business.
Italy business and consumer confidence rise in July
Italian business and consumer confidence rose in July, data showed on Friday, in a positive sign for the prospects of the euro zone's third largest economy.
Manipal Health's $960 million India IPO fully subscribed
Temasek-backed Manipal Health Enterprises' $960.4 million initial public offering was fully subscribed on the final day of bidding on Friday, led by institutional investors.
BP launches sale process for North Sea business as CEO pushes overhaul
BP on Friday launched a formal process to market its North Sea business for a potential sale, as new Chief Executive Officer Meg O'Neill accelerates a sweeping portfolio overhaul aimed at cutting debt and simplifying the oil company.
Forvia sales fall less than expected, but China business declines
French car parts supplier Forvia reported a smaller-than-expected drop in its half-year sales on Friday, even as an unfavourable customer mix weighed on its China business.
Sony posts 40% rise in Q1 profit, beating estimates
Sony reported on Friday a 40% rise in first-quarter operating profit, beating analyst estimates, boosted by the performance of its gaming and image sensors businesses.
Tesla weighs sale of China business to pave way for potential SpaceX merger, WSJ reports
Tesla executives have been told to prepare for a separation of its China business ahead of potential merger with SpaceX , the Wall Street Journal reported on Thursday, citing a person familiar with the talks.
Tesla weighs sale of China business to pave way for potential SpaceX merger, WSJ reports
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Apple revenue, profits beat expectations on iPhone, Mac sales
Apple on Thursday reported sales and profits that beat Wall Street expectations, fueled by its customers snapping up iPhones and MacBooks amid price increases across the consumer electronics sector.
Rivian beats quarterly revenue estimates as R2 launch, software business gain traction
By Akash Sriram July 30 (Reuters) - Rivian Automotive beat quarterly revenue estimates and raised annual delivery forecast on Thursday, buoyed by optimism over the rollout of its lower-priced R2 SUV and growth in its software business as it expands b...
Rivian beats quarterly revenue estimates as R2 launch, software business gain traction
Rivian Automotive beat quarterly revenue estimates and raised annual delivery forecast on Thursday, buoyed by optimism over the rollout of its lower-priced R2 SUV and growth in its software business as it expands beyond its premium lineup.
OpenAI cuts prices on smaller models as businesses scrutinize AI spend
OpenAI slashed prices of its low- and mid-tier AI models on Thursday, a move that may intensify competition in the industry as U.S. companies battle cheaper Chinese rivals for customers increasingly wary of the technology's ballooning costs.
UK's IG Group agrees to buy sports gaming firm Underdog for up to $1.3 billion
Britain's IG Group said on Thursday it has agreed to acquire U.S. daily fantasy sports and prediction markets operator Underdog for up to $1.3 billion, in a deal that would strengthen its position in the fast-growing U.S. retail trading market.
Why Americans are leasing fewer cars
Vehicle leasing has declined in the United States in recent years, curbing what has long been a preferred route to new wheels for many car shoppers.
Cigna raises annual profit forecast on strength in health services unit
Cigna on Thursday raised its annual profit forecast, after beating quarterly earnings estimates on growth in its pharmacy and specialty drug businesses.
Sensodyne maker Haleon posts higher second-quarter organic revenue growth
British consumer health company Haleon reported second-quarter organic sales growth of 3.1% on Thursday, in line with market expectations, driven by strong demand for its oral health products and accelerating growth in North America, its largest market.
Merck, Wellcome partner with global health group to make Ebola vaccine for clinical trials
Hilleman Laboratories, a Singapore-based joint venture between Merck and the global charity Wellcome, is gearing up to manufacture doses of a promising experimental vaccine against the rare Bundibugyo strain of Ebola responsible for a fast-spreading outbreak in the Democratic Republic of Congo.
Merck, Wellcome partner with global health group to make Ebola vaccine for clinical trials
CHICAGO, July 30 (Reuters) - Hilleman Laboratories, a Singapore-based joint venture between Merck and the global charity Wellcome, is gearing up to manufacture doses of a promising experimental vaccin...
The White Sox had no business winning this game. They won anyway, 6-5
Chicago overcame a four-run first-inning deficit before Edgar Quero ended a 12-inning marathon with the club’s eighth walk-off victory of the season
Meta narrows annual capex forecast as AI buildout grows
Meta Platforms narrowed the range of its forecast for annual capital expenditure on Wednesday, as the social media giant doubles down on building a fleet of data centers to expand its AI computing power
Microsoft tops quarterly cloud growth estimates, easing spending concerns
Revenue at the company's Azure cloud-computing business rose 43%.
US FTC suing Hims & Hers for sending user health info to Meta, Snap
The U.S. Federal Trade Commission is suing Hims & Hers alleging the telehealth platform shared users' health data with online advertisers despite promising privacy and engaged in deceptive billing and cancellation practices, an FTC spokesperson said.
Prosecutors say Charlie Kirk was attacked for his politics, US judge blocks Houston's minority contracting program and more ➡️
☀️ Good morning from The Legal File! Here is the rundown of today's top legal news: 📝 EEOC stopped hearing federal workers' class action cases, union claims in lawsuit REUTERS/Andrew Kelly The U.S.
Business journalism studies took her to the White House | UNC Hussman School of Journalism and Media
The story by UNC Hussman alumni Brennan Doherty ’19 and video by John Roberts ’16 (M.A.) was originally published on unc.edu. This story is part of a four-part series on Carolina alumni working in Washington, D.C. Soon after her 2015 graduation from UNC-Chapel Hill, Megan Cassella was an intern for the Reuters news agency, eagerly awaiting and prepping for a special assignment. “Every now and then they needed an intern to run over to the White House last minute,” Cassella said. “You have to send your information the night before, so I started proactively sending my information to the White House every single night to be able to go the next day if they ever needed an intern.” Since then, she’s made many return trips to 1600 Pennsylvania Ave. in a career that’s included roles at Reuters, Politico, Barron’s and now CNBC, where she works as an on-air Washington correspondent. A longtime newswriter, Cassella made the move to TV in 2024, appearing on broadcasts multiple times daily to report on the biggest political and business stories. But the keys to doing a good job — knowing how to research, asking insightful questions, building relationships and explaining complex topics to a broad audience — remain the same. Did you know: Outside of the state of North Carolina, the Washington region is home to the largest concentration of Tar Heel alumni in the country. Cassella’s time as a Tar Heel was crucial in sharpening those skills, both in the UNC Hussman School of Journalism and Media and through roles at student-run publications like The Daily Tar Heel. She excelled in Carolina’s business journalism program with former professor Chris Roush, which led to an internship at The Charlotte Observer and helped Cassella find her journalistic niche. A data journalism course with Associate Professor Ryan Thornburg taught her how to find stories in numbers, and former professor Paul O’Connor’s reporting class took Cassella to the North Carolina Capitol weekly, where she gained invaluable experience interviewing politicians. “Those hands-on experiences that Carolina gave me really kept my interest and have really benefited me since I’ve been up here in D.C.,” said Cassella. “I have UNC to thank for the fact that I even went into business journalism in the first place.” Megan Cassella ’15 “You’ve got to thrive on adrenaline in this job. You’ve got to do well with last-minute changes, with running by the seat of your pants.” Megan Cassella ’15 ‘There’s nothing else like it’ In recent months, Cassella has reported live from the G7 Summit in Geneva, covered the latest developments in the U.S.-Iran war and followed changes to trade policy, including tariffs. “Anything in this realm that influences Wall Street, I’ll be covering,” Cassella said. Her working hours are long and variable. After waking up, Cassella immediately checks her phone to see what news broke overnight. By 8:15 a.m., she usually learns which newscasts she’ll be on, and then she heads to the newsroom, White House or wherever her assignment is. “We want you in the 9 a.m. show and the 11, and then the 3 o’clock show wants you, too,” Cassella said, referring to a hypothetical day. If Cassella gets an exclusive or major news breaks, she might be told, “We want that on TV right now.” Within five minutes, she’d be expected to get to the camera, figure out what to say and deliver the news to a live audience. “It’s exciting. It’s nerve-wracking,” Cassella said. “But there’s nothing else like it.” A well-rounded education Cassella grew up in Maryland, the youngest of four kids. Her oldest brother, Brian Cassella ’05, attended Carolina, became a photojournalist and recently won a Pulitzer Prize. She remembers visiting campus as a young child and loving it. “I just always wanted to go,” she said, and that desire grew when she, like her brother, gravitated toward journalism. But it wasn’t just the journalism school that drew Cassella to Carolina. “It was also the whole liberal arts curriculum,” she said. “Even though I always wanted to be a journalist, I got to college, and I sort of felt I had to think about other things. I had to explore my options and see if that’s what I really wanted.” Did you know: In April UNC-Chapel Hill opened its Carolina in the Capital office in Washington. She combined her journalism schooling with a global studies major and a history minor. That broad range of academic experiences in Chapel Hill molded her, preparing Cassella for a career that’s taken her to the highest levels of political journalism and inside the Oval Office. “When you sit back and remember you’re actually sitting inside the White House and asking questions of the president, it’s a cool feeling,” Cassella said. “No matter who is in office, no matter what administration or party, it’s a privilege to be there.” Megan Cassella on… Being a Tar Heel in Washington: I run into Tar Heels all the time. My husband’s a Tar Heel. We actually met here in Washington, not at Carolina, even though we were the same class. Probably most of our friends are still Tar Heels. Even up here in D.C., we all get together for games and March Madness. And through work, there’s Tar Heels all over the place. It’s often used as a connection. Favorite Franklin Street spot: When we go back, our first stop is always IP3. That’s more my husband’s doing than mine. In college, I was a huge Spanky’s fan. Felt like it was a classic spot. May it rest in peace. Advice to journalism students: Reps, reps, reps! Nothing beats the experience you’ll gain by simply starting to do the work — asking the questions, reporting and writing the stories, doing the TV hits. When you can, go places in person. Talk to more people than you think you’ll need. Read as much as you can, from different sources and on different topics. If you’re not sure how to start your story, that usually means you need more reporting. When you’re not sure, ask.
Delta to offer sports game on flights with DraftKings but no betting
Delta Air Lines said Wednesday it will offer a sports prediction game on flights in a partnership with sports betting company DraftKings , but will not allow gambling.
US lawmakers press Health Secretary Robert F. Kennedy Jr. on vaccine settlement
A group of U.S. senators has asked Health Secretary Robert F. Kennedy Jr. to disclose whether his family stands to profit from a recent legal settlement involving Merck's Gardasil vaccine, according to a letter reviewed by Reuters.
Unilever agrees two-year worker protection after $65 billion McCormick merger, memo shows
Unilever has agreed to protect employment terms of workers in its European and British food business for two years after the planned 2027 completion of its $65 billion merger of the unit with U.S. spice maker McCormick , according to a memo seen by Reuters.
India's Mahindra to transfer truck, bus business to SML Mahindra
Mahindra & Mahindra said on Wednesday it would transfer its truck and bus business to listed subsidiary SML Mahindra for 5.25 billion rupees ($54.92 million), consolidating the group's commercial vehicle operations under a single entity.
Prosecutors say Charlie Kirk was attacked for his politics, cite anti-LGBT views
Tyler Robinson, the man accused of killing Charlie Kirk, targeted the right-wing activist for his political views, prosecutors said on Tuesday, citing Kirk's opposition to gay marriage and transgender rights.
The Science Behind the AI Panic Is Shakier Than You Think
A column by Sascha Lobo Is AI making us dumb? So asked DER SPIEGEL on its cover a while ago. After a few weeks of recovery and a therapeutic intervention with the help of my AI, I feel able to respond. That’s a bit unfair, of course; the article itself is more nuanced than the loud cover, the image of a schoolkid with dull prompt questions, or the subtitle: “AI is conquering the schools, and educators fear a disaster.” The short answer to “Is AI making us dumb?” is: no. The long answer is more interesting, and even carries a preliminary glimmer of the spectacular. Unfortunately, it requires a detour into the sphere of artificial intelligence, into the mogul-field terrain of technology assessment, the attention economy, and the destructive virus of cultural pessimism. Along with narrowing the scope to AI’s effects on education and work rather than on intelligence. Because the honest version of the question would be: Does AI help us learn and work, or not? Generative AI, which set off the still-ongoing hype with ChatGPT, has only existed in relevant distribution since late 2022, early 2023. For a technology-driven transformation of people and society, that is extremely short. For that reason alone, research is still in its infancy. And technology assessment is not a fast discipline anyway. Prominent voices from Elizabeth Eisenstein to RAND to Tom Wheeler say we still cannot conclusively judge the consequences of the printing press. Its invention is a mere 580 years back, and some scholars would rather not circulate assessments that might have to be retracted in two or three hundred years. We’re Going Through Growing Pains A phenomenon that already caused upheaval in social media research makes serious assessment of AI’s consequences even harder: the “moving target” problem of LLM-ology, as the linguist Sean Trott called it in 2025. AI develops so quickly and so unpredictably that researchers often end up studying snapshots of the past. There are concepts, from morphological analysis to anticipatory governance, for keeping research, planning, and regulation halfway meaningful anyway. But even with those, universally valid statements are rare. DER SPIEGEL - The German View is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber. Subscribe We should therefore treat findings about the interplay between humans and AI as far more procedural and situational. Unfortunately, this challenge comes at the worst possible time. We are going through growing pains: AI’s everyday impact has grown very large very fast, and with it the longing for guidance. Annoyingly, the body of solid knowledge has not exploded along with it. Experts cannot be moved to broad consensus on even banal statements about AI. Sascha Lobo, born in 1975, is an author and strategy consultant focusing on the internet and digital technologies. Together with Jule Lobo, he explores the debates of the day in the podcast “Feel the News – Was Deutschland bewegt” (”What Moves Germany”). Nvidia CEO Jensen Huang says software developers are dying out. Bill Gates considers coders one of only three professions that will survive the AI tsunami. Top tech economists find virtually irrefutable arguments both for and against an AI bubble. The same naturally applies to the structurally youth-hostile debate over whether AI is good or bad for young people. The gap between the demand for insight and the supply of solid knowledge creates an orientation vacuum. This vacuum of AI cluelessness is filled, as the attention economy described by Georg Franck in 1998 would have it, with half-knowledge (funnily enough, often AI-generated), marketing, and self-marketing. After all, infinite money is at stake, along with academia’s best current shot at global fame. But this iridescent froth of interpretation operates more by the algorithmic principles of the digital public sphere than by seriously earned insight. That is why dramatized, fear-feeding claims about AI are so promising. It tempts parts of academia into distorted drivel, and parts of the media then sensationalize the published drivel once more. Was the Research Aimed at a Desired Result? How badly this can influence academia and public perception is demonstrated by one of the most-discussed studies on AI’s effects: “Your Brain on ChatGPT.” The MIT study by Nataliya Kosmyna also gets plenty of space in the SPIEGEL cover story. What was measured and interpreted: lower brain activity in people who write with AI assistance, compared to people who only google or write without any tools. As is common with preprints, the study has not yet been peer-reviewed, and it contains substantial weaknesses that experts have sharply criticized. The first round had 54 participants in three groups, the second only 18, who reportedly also came from MIT’s own orbit. There was no preregistration (committing in advance to what you want to find out with which data). In their analysis, Stanković et al. even discovered an opposite effect that the study does not further explain. Some measurement data has not (yet) been published. And the EEG analysis method used is considered too imprecise to support such far-reaching conclusions. The biggest criticism, though, is the suspicion of an activism-driven study. In an interview with Time, lead author Kosmyna said she published the study immediately, rather than after full peer review, because she feared politicians might otherwise decide to put ChatGPT in kindergartens. She considers that absolutely harmful. It is legitimate to hold such a view. It just seems unscientific to approach a study with it, and then to design the setup so that the chance of a fitting desired result remains as high as possible. Ideologies Collide It is not easy to separate genuine AI insights from studies that trivialize and weaken well-founded AI criticism. The same goes for the opposing, AI-enthusiastic narratives, because the pro-AI side works against it with billions in resources. Ideologies collide, fed by egos, PR strategies, moral posturing, and once-in-a-lifetime opportunities. Doomsday marketing makes the search even harder: AI companies can profit from warnings about the dangers of AI, whether through the notoriety of apocalypse narratives or because, in some target groups, danger translates into power. Some seemingly negative findings are therefore quite welcome in the AI industry. If you try to get at the findings presumably less influenced by interest groups, the picture in education seems relatively clear: AI can improve educational outcomes when the right AI is used the right way, namely pedagogically. Simply dumping an AI chatbot into a classroom, by contrast, accomplishes little. Huge surprise. But something else is also obvious: whether they are allowed to or not, kids use AI for school, which is why the controlled integration of AI tools into education is, in the medium term, entirely without alternative. In the world of work, the landscape of findings is more complex and requires more differentiation. A series of serious studies points to an AI effect that suits neither the alarmists, regulation fetishists, and AI opponents, nor the trillion-dollar corporations with their armada of paid scientists, PR professionals, and ecosystems: working with AI helps the inexperienced (at least for now) considerably more than it helps the pros, in certain fields of work, and provided they know how to use it correctly. Missing Domain Knowledge Among the experienced, the professionals, and the high flyers, by contrast, despite frequent time savings, partially negative effects and new problems are emerging. Take the jagged frontier problem: AI solves task A brilliantly and fails completely at task B, even though both look similar even to professionals. Or the verification-cost problem, in which AI’s greater productivity gets eaten up by the enormous effort of checking its output. Or the illusion of competence, because AI makes new domains seem easily penetrable, until you painfully discover that deep domain knowledge is missing. Taken as a whole, the effects of working with AI do lean positive. But the promise that AI works as a turbocharger for everyone and boosts practically everything simply refuses to materialize. The AI magic the world has been feeling since ChatGPT arrived in late 2022 has so far barely shown up in most companies’ numbers. The consulting firm McKinsey has coined a term for this, the “gen AI paradox,” and believes that work processes and corporate structures would have to be rebuilt quite fundamentally to realize AI’s benefits at scale. Reuters just reported that only 3.3 percent of Microsoft’s customers have subscribed to the AI package Copilot. That may be down to the product; in other areas we continue to see soaring successes and new AI triumphs. But after the first quarter of 2026, disillusionment is the word for all too many AI projects at traditional companies: because the promised revolution of AI agents has so far failed to arrive or been postponed, and because of the leveling effect that many of the studies cited here suggest. Against Inequality The societal effects, on the other hand, appear rather encouraging. Many previous technologies operated on the Matthew principle, named for the Gospel verse about giving to those who already have: they tended to reward the more competent and more privileged. AI, however, seems more often to have an equalizing effect once a threshold of access and education is crossed. Some anecdotal insights point in this direction, for example, how an unemployed man in Leipzig successfully defended himself in court in 2025 against fraud accusations from Germany’s federal employment agency — without a lawyer, armed only with ChatGPT. The AI made mistakes and cited invented court rulings, but in the end the man walked away unpunished. And a key capability of artificial intelligence is its capacity to learn: set up correctly and fed with data, it can keep getting better. It is a question of time, or more precisely of AI innovations and training data, until even free AI chatbots write better legal briefs than law graduates with perfect exam scores. Whether that will make anyone dumb is something the world’s press will surely inform us of in due time. Subscribe Leave a comment
Japan PM's political doom loop worsens her fight with markets
Japanese Prime Minister Sanae Takaichi is fighting a losing battle in the polls, making a retreat from promised tax cuts more difficult and denying her officials the political backup they need to talk down yen and bond market bears.
Cricket-IPL's business value soars above $20 billion, says report
By Amlan Chakraborty NEW DELHI, July 29 (Reuters) - The business value of the Indian Premier League, the world's richest Twenty20 series, has soared more than 11% to $20.6 billion this year, according
IPL's business value soars above $20 billion, says report
The business value of the Indian Premier League, the world's richest Twenty20 series, has soared more than 11% to $20.6 billion this year, according to U.S.-based investment bank Houlihan Lokey.
Strong quake hits Japan's production hub, disrupts business operations
A powerful earthquake centred on Kumamoto in southwestern Japan on Tuesday forced a growing number of manufacturers, retailers and service providers to suspend operations across the region, disrupting supply chains in one of the country's key production hubs.
AI race redraws Asian air cargo, replacing e-commerce as growth engine
The global race to build artificial intelligence is redrawing Asia's air cargo map, prompting airlines to redesign networks around growing semiconductor manufacturing hubs as cross-border e-commerce loses momentum.
Moments from Nancy Pelosi's four-decade career in politics
Nancy Pelosi is the first woman to serve as the Speaker of the U.S. House of Representatives with a four-decade career as a progressive Democratic icon.
Moments from Nancy Pelosi's four-decade career in politics
Nancy Pelosi is the first woman to serve as the Speaker of the U.S. House of Representatives with a four-decade career as a progressive Democratic icon.
Big Pharma gets a lesson in trusting the science
J&J reached a relatively cheap $5.5 bln settlement that could end over a decade of litigation related to talc. The healthcare giant exited Kenvue, its former consumer goods unit, partly to escape similar legal worries. In retrospect, it looks to have handed a rival a deal.
Under pressure over China backers, Mercedes CEO pledges to defend US business
Mercedes-Benz's CEO pledged on Tuesday to shield its U.S. business from a possible sales ban, as concerns in Washington over the German carmaker's Chinese investors threaten it with exclusion from one of its few remaining growth markets.
CMS Energy forecasts 2027 profit below estimates, exits non-utility renewables business
CMS Energy forecast 2027 adjusted earnings below Wall Street estimates on Tuesday and said it would exit non-utility renewables development, as the utility focuses on its regulated business while investing to meet growing electricity demand.
Amazon winds down most flagship AI models in strategy overhaul, Business Insider reports
Amazon.com is revamping its AI strategy, winding down many of its in-house AI models and sharpening focus on a new frontier-model effort, Business Insider reported on Tuesday citing people familiar with the matter.
Sports betting industry spending on US midterm elections surpasses $72 million
DraftKings, FanDuel and other online sports betting companies have ramped up election spending on the U.S. midterms to at least $72 million so far, the latest campaign election data shows, as prediction markets like Kalshi and Polymarket bring fresh scrutiny — and competition — to online betting.
Uganda's health minister declares country free of Ebola
Uganda's health authorities declared the country Ebola-free on Tuesday ending the East African nation's latest outbreak of the viral haemorrhagic disease that infected 20 people and killed two of them since it was declared in mid-May.
Poll: Only One in Three Americans Support Iran War
Reuters/Ipsos polling has shown support for military action against Iran never rising above 40% since the conflict began on February 28.
Stellantis sells car-sharing business as CEO Filosa focuses on core auto-making
Stellantis has agreed to sell its Free2move car-sharing unit to German investment company Mutares , the automaker said on Tuesday, as CEO Antonio Filosa continues efforts to sharpen the group's focus on its core vehicle production.
Incoming Apple CEO aims to build on movie and TV progress
Apple's incoming CEO, hardware chief John Ternus, said he was committed to building on the company's momentum in the entertainment business when he takes the helm of the iPhone maker in September.
Incoming Apple CEO aims to build on movie and TV progress
By Rollo Ross LOS ANGELES, July 27 (Reuters) - Apple's incoming CEO, hardware chief John Ternus, said he was committed to building on the company's momentum in the entertainment business when he takes the helm of the iPhone maker in September. The tec...
Natural gas producer Expand Energy to acquire Twin Eagle for $1.25 billion
Expand Energy said on Monday it would buy privately held natural gas marketer Twin Eagle Holdings from Five Point Infrastructure for $1.25 billion.
India's HDFC Bank finds employees' conduct in deposit pricing matter was business overreach, not misconduct
India's HDFC Bank said on Monday its board concluded employees involved in the deposit pricing of an Indian state agency had engaged in business overreach, rather than acting for personal gains or with any improper motive.
German business sentiment rises more than expected in July, Ifo survey finds
By Maria Martinez BERLIN, July 27 (Reuters) - German business morale grew more than expected in July thanks to significantly improved expectations, a survey showed on Monday. The Ifo institute said its business climate index rose to 86.6 from a s...
German business sentiment rises more than expected in July, Ifo survey finds
German business morale grew more than expected in July, a survey showed on Monday.
Audi must work with Volkswagen to realign business, CFO says
Volkswagen's premium brand Audi must work with the group towards a comprehensive restructuring, the subsidiary's finance chief said on Monday, after reporting declining sales in the first half of the year due to weakness in China and the U.S.
TotalEnergies to appeal French court decision ordering it to adapt its business to climate change
French oil major TotalEnergies will appeal a Paris court decision ordering it to bring its business in line with climate change, it said on Monday.
Germany's sick-note crackdown may be treating the symptoms, not the disease
Germany's plans to tighten sick-note rules may be mistaking the symptoms of rising absenteeism for the underlying illness, researchers say, pointing to mental health strains and deteriorating working conditions in sectors such as healthcare and education.
Oil slips more than 5% after US pauses strikes on Iran
Oil prices extended losses on Monday, falling more than 5%, after U.S. President Donald Trump paused strikes on Iran after two weeks of attacks, raising hopes of a diplomatic solution that may de-escalate the conflict in the Middle East.
After OWI arrest, Tony Romo withdraws from Texas State Open
Tony Romo has yet to say anything publicly since Thursday's arrest in Milwaukee for suspicion of operating while intoxicated.
Cuban president accuses US of 'political genocide' on anniversary of revolution
Cuban President Miguel Diaz-Canel issued a sharp condemnation of Washington's oil embargo and hardened sanctions in a speech on Sunday, calling the policy of U.S. President Donald Trump's administration "political genocide."
At least 35 killed in bus collision on Syria's Deir al-Zor-Damascus road, health ministry says
Thirty-five people were killed and 30 injured in a collision between two passenger buses on the Deir al-Zor-Damascus road, a health ministry official told state news agency SANA on Saturday.
Swiss cheesemakers try to fill hole in sales from US tariffs
The Alpine farmers who make one of Switzerland's most famous cheeses are seeking to fill the hole in sales left by U.S. import tariffs, which have caused demand to plunge in one of their most important export markets.
Focus: Michigan battles massive outbreak as state reels from Trump cuts
Two weeks before the U.S. Centers for Disease Control and Prevention issued its cyclosporiasis health warning on July 14, Michigan warned of an unusually large outbreak of parasitic disease that was causing explosive diarrhea.
Its AI agent spent days hacking a company, but sources say OpenAI did not notice for a week
The OpenAI agent that broke into tech firm Hugging Face went on a dayslong hacking spree that OpenAI didn't notice until well after the threat was contained and the FBI was alerted, according to people familiar with the investigation.
Embraer's backlog hits record $34.5 billion in the second quarter, rising 16%
Brazilian aircraft manufacturer Embraer said on Friday its firm order backlog hit a record of $34.5 billion at the end of the second quarter, up 16% from a year earlier.
F1 needs better balance between business and sport, says Norris
Formula One has been driven too much by business decisions and needs to remember it is a sport, according to McLaren's world champion Lando Norris.
U.S. small businesses file lawsuit challenging Trump's new 'forced labor' tariffs
Two U.S. small businesses on Friday challenged President Donald Trump's latest round of tariffs on goods from 60 trading partners, saying that the new policy, like most of Trump's previous tariffs, went beyond the president's authority to tax imports.
US business activity perks up in July, helped by World Cup, but trend may not last, S&P Global says
Activity in the vast U.S. services sector accelerated in July, aided in part by spending around the FIFA World Cup and the Independence Day holiday, while the pace of growth in the manufacturing sector eased to the slowest since March amid a slowdown in precautionary stock building prompted by the U.S.-Israeli-led war with Iran.
BP nears deal to sell solar business to Kuwait-backed consortium, FT reports
BP is in advanced talks to sell its solar business, Lightsource, to a consortium backed by Kuwait's sovereign wealth fund, the Financial Times reported on Friday, citing people familiar with the matter.
US summons Malaysia envoy over Israel policy
Malaysia does not have any diplomatic ties with Israel and has long maintained its support for the Palestinian cause.
China's CATL sees net profit rise 42% in first half
Chinese battery giant CATL posted a 42% year-on-year rise in first-half net profit, supported by robust growth in its energy storage business that offset softer demand in the electric vehicle market.