Business

By Sheila Dang (Reuters) – Alphabet’s Google will infuse artificial intelligence into the U.S. broadcast of the Paris Olympics, allowing sports commentators to use AI to explain competitions, the tech company said on Thursday alongside NBCUniversal and the U.S. Olympic and Paralympic Committee. Google will be named the official search AI partner of Team USA, marking the first time a tech company has partnered with the sports nonprofit, the three organizations said in a statement. … Read more…

By Amy-Jo Crowley and Oliver Hirt LONDON (Reuters) – Apax Partners, Bain Capital and CVC are each exploring potential bids for SoftwareOne, two people with knowledge of the situation said, three months after the ouster of the Swiss software company’s board. Talks with interested funds are ongoing, one of the people said. Four sources mentioned Bain and CVC and two of them also named Apax. SoftwareOne’s board was ousted in April after it rejected a … Read more…

By Yadarisa Shabong and Martin Coulter (Reuters) – Britain’s competition regulator has started a formal investigation into Microsoft’s hiring of some former staff of Inflection AI and its partnership with the startup, it said on Tuesday. Over the past 18 months, regulators around the world have increasingly focused on potentially anti-competitive behaviour in the AI industry, with Microsoft’s various deals with smaller startups facing mounting scrutiny. In March, the tech giant hired Mustafa Suleyman, co-founder … Read more…

By Ananya Mariam Rajesh and Arriana McLymore (Reuters) – Shoppers are likely to spend roughly $14 billion during Amazon’s Prime Day two-day shopping event this week, according to projections from Adobe Analytics, a firm that studies e-commerce transaction data. Spending at Amazon on Tuesday and Wednesday could rise 10.5% from Prime Day 2023, Adobe said. The online retailer began holding Prime Day a decade ago, typically in July. Prime Day accounts for 1% to 2% … Read more…

(Reuters) – Shares of Warner Bros Discovery rose more than 6% on Tuesday after Bank of America (BofA) Global Research said the company could create more value for its shareholders if it explored strategic options, including a potential sale. The loss-making media conglomerate has been reeling from the effects of subdued advertising in the U.S. and certain international markets. The fallout of last year’s Hollywood strikes have also impacted the company’s studio segment. Warner could … Read more…

By Arasu Kannagi Basil and Davide Barbuscia (Reuters) – Assets managed by BlackRock hit a record $10.65 trillion in the second quarter thanks to rising client asset values and as investors pumped money into the company’s exchange-traded funds, the world’s largest asset manager said on Monday. Stock markets have scaled record highs in the last few months amid rising expectations of a soft landing for the U.S. economy and an investor frenzy around artificial intelligence-linked … Read more…

By Jonathan Stempel (Reuters) -Berkshire Hathaway’s share price hit a record high on Monday, reflecting investors’ confidence in Warren Buffett’s company, which is often regarded as a microcosm of the broader American economy. The price of Berkshire’s Class A shares rose 1.5% to $649,000 in late morning trading, surpassing the $647,039 price reached on Feb. 26. Berkshire’s more widely held Class B shares are worth about 1/1,500th as much. Monday’s gain boosted the market value … Read more…

(Reuters) -Private equity firm Bain Capital will buy Envestnet in a $4.5 billion deal, with backing from a cohort of investors, including BlackRock and Fidelity Investments, the financial software vendor said on Thursday. Berwyn, Pennsylvania-based Envestnet offers software for wealth managers and data for financial institutions and investment research firms. Its clients include 16 of the 20 biggest U.S. banks and 48 of the 50 largest wealth management and brokerage firms. Reuters exclusively reported earlier … Read more…

(Reuters) – The U.S. Federal Trade Commission plans to delay its decision whether to block Chevron’s $53 billion takeover of Hess until after an arbitration case with Exxon Mobil is settled, Bloomberg News reported on Thursday. The signal from the U.S. regulator is another hurdle for Chevron’s proposed acquisition of Hess. The deal, which was initially planned to close in the first half of the year, stalled after Exxon in March filed for arbitration, claiming … Read more…

By Joyce Lee SEOUL (Reuters) – Samsung Electronics unveiled its latest foldable smartphones on Wednesday, making its priciest flagship model lighter and slimmer and bolstering AI functions as it challenges Apple’s dominance in the premium market. Samsung is also offering more sophisticated health monitoring functions to drive new demand for accessories such as its smartwatch, as well as a new ring for easy health monitoring and screen control. The world’s largest smartphone maker pioneered the … Read more…