economy – Page 2 – pressnews

SoftBank forms JV to build AI-powered warehouses with Symbotic

25Jul

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Technology

SoftBank forms JV to build AI-powered warehouses with Symbotic

[ad_1] SoftBank Group is forming a joint venture with supply-chain services provider Symbotic to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday.The firms are investing a total of $100 million in the venture, which will be called GreenBox Systems. The unit has also signed a contract to buy AI-powered systems worth $7.5 billion for its warehouses from Symbotic. The deal will give SoftBank, already an investor in Symbotic, warrants representing about 2% of the U.S. company's outstanding shares. The Japanese firm said it had also bought 17.8 million shares of Symbotic from CEO Rick Cohen. Shares of Symbotic rose 1.3% on Monday, while SoftBank closed 1.2% higher on the Tokyo bourse before the news.The move comes at a ...

Apple Aims to Keep iPhone Shipments Steady Despite 2023 Turmoil

24Jul

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Technology

Apple Aims to Keep iPhone Shipments Steady Despite 2023 Turmoil

[ad_1] Apple Inc. is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, according to people familiar with the matter.The Cupertino, California-based company is aiming to hold shipments steady despite tumult in the global economy and a projected decline in the overall smartphone market. It's likely to increase revenue overall because Apple is considering raising the price for Pro models, said the people, asking not to be named because the targets aren't public. The fortunes of Apple, the world's most valuable company, reverberate through the global economy, driving business for thousands of suppliers and fueling employment for millions from the US and China to Vietnam and India. Its shares have surged almost 50% this year,...

Apple joins Acumen to boost clean energy innovation in India

13Jul

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Technology

Apple joins Acumen to boost clean energy innovation in India

[ad_1] Apple will expand its social initiatives in India to boost clean energy innovation. The tech giant has joined Acumen, a global non-profit organization, for an initiative that aims to transform the lives of people living in poverty and also focus on protecting the environment. The organization has designed an Energy for Livelihoods Accelerator program for social entrepreneurs which will continue for 12 weeks starting in September.“Apple is committed to helping ensure everyone can share in the benefits of a greener economy. We're demonstrating the transformative potential of clean energy in everything we do, and excited to support social innovators who share that goal,” said Sarah Chandler, Apple's vice president of Environment and Supply Chain Innovation. About the initiativeThis ...

A second life for EV batteries? Depends how long the first is

26Jun

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Technology

A second life for EV batteries? Depends how long the first is

[ad_1] Global automakers have touted plans to re-use electric vehicle (EV) batteries when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy.An array of startups offers second-life energy storage using old EV batteries. But creating the viable industry envisioned by carmakers such as Nissan would mean fighting off competition from recyclers, refurbishers and the needs of drivers squeezed by the cost-of-living crisis. "The assumption that EV batteries are only going to last eight-to-10 years and then owners will swap them out is just not true," Hans Eric Melin, founder of consultancy Circular Energy Storage (CES), which tracks battery volumes and prices, said. "It's going to be tricky...

Blue Origin to SpaceX, NASA partners 7 space companies for commercial and govt needs

16Jun

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Technology

Blue Origin to SpaceX, NASA partners 7 space companies for commercial and govt needs

[ad_1] US space agency NASA is taking collaboration with private agencies to the next level to meet its growing commercial and government requirements and for that it has roped in and tied-up with as many as 7 companies. Among them are Jeff Bezos led Blue Origin and Elon Musk led SpaceX. The ultimate goal, as per NASA is to benefit human spaceflight and the US commercial low Earth orbit economy.Notably, these Space Act Agreements are unfunded. Also, the second Collaborations for Commercial Space Capabilities-2 initiative (CCSC-2) is designed to advance commercial space-related efforts. This will be done by NASA sharing of technical expertise, assessments, technologies, and data in ways that will expend minimal government resources. However, it will foster development of capabilities to ...

AI will supercharge productivity. Will workers benefit?

26May

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Technology

AI will supercharge productivity. Will workers benefit?

[ad_1] Productivity growth, or the ability to produce more per hour, is supposed to make everyone richer. The idea is that greater productivity allows companies to make more money, which workers and owners share through higher wages and more valuable businesses. But since the 1980s, productivity gains have gone almost exclusively to executives and owners of companies, leaving average workers behind and fueling the widest wage and wealth gaps on record. Enter artificial intelligence, which promises greater productivity growth than any technology before it. If AI delivers, and those productivity gains continue to elude everyday workers, wage and wealth gaps will widen further, perhaps significantly, adding to the burdens that high rates of economic inequality are already placing on the e...

23May

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Technology

China Is Jumping at Digital Shadows

[ad_1] “Survival is an infinite capacity for suspicion,” goes the line from John Le Carre's classic Cold War-era novel Tinker, Tailor, Soldier, Spy. And right now, in the technology realm, China is fighting hard just to stay in the game.Three brief paragraphs posted by the Cyberspace Administration of China to its website on Sunday night outlined the latest round of digital paranoia between Beijing and Washington, with Boise-based Micron Technology Inc. the most-recent victim. “Micron products have relatively serious potential network security issues,” the CAC said without elaborating. “Operators of national critical information infrastructure should stop purchasing Micron products.” We ought not to make too much of Beijing's decision to keep details of its security review under wraps; ...

Paytm, SBI Card and NPCI to launch co-branded RuPay credit cards to drive credit inclusion

18May

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Technology

Paytm, SBI Card and NPCI to launch co-branded RuPay credit cards to drive credit inclusion

[ad_1] One97 Communications Limited (OCL), which owns the brand Paytm, today announced that it has partnered with India's largest pure-play credit card issuer SBI Card, to launch Paytm SBI Card on the RuPay network. The three homegrown brands, Paytm, SBI Card and NPCI, have joined forces to drive credit inclusion. They bring benefits, spend-based cashback points and milestone benefits for the most rewarding experience. Apart from that, the new product drives convenience by enabling customers to use the Paytm SBI Card on RuPay network, where UPI payments through credit cards will be live shortly. Above all, it looks to expand access to credit and foster financial inclusion by bringing ‘new to credit' users into the formal economy The Paytm and SBI Card partnership is expanding with the ...

AI jobs loss: 3 big industries that will be hit

12May

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Technology

AI jobs loss: 3 big industries that will be hit

[ad_1] In recent years, the rapid advancement of artificial intelligence (AI) has left many considering the potential impact on the job market. As automation and machine learning continue to evolve, concerns over job losses have gained significant attention. The rise of AI technology has undoubtedly brought about changes in various industries, and while some jobs may be at risk, it is crucial to understand the extent and nature of these potential losses.“The impact of AI on job losses is a complex and multifaceted issue. While it is true that certain job roles may become redundant or automated, the overall effect on employment remains uncertain,” according to a report published in IoT For All. The report suggests that AI may lead to the creation of new job opportunities, as it has the p...

For Netflix, a Poorer Consumer Isn’t Necessarily Bad

10May

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Technology

For Netflix, a Poorer Consumer Isn’t Necessarily Bad

[ad_1] For Netflix Inc., a mild deterioration in the consumer economy is a potential blessing in disguise. To start with, the less money people have, the more likely they are to stay home, where movie-streaming became such a popular form of entertainment during the pandemic.Then there's the impact on competitors who have been striving to make inroads into Netflix's lead. Having plowed big money into streaming services in recent years, the likes of Walt Disney Co. and Paramount Global are now making cuts in the area, deterred by the tougher conditions. Streaming viewership “should pick up nicely” as people stop going out if the economy slips into a recession later this year, said Matthew Maley, chief market strategist at Miller Tabak Co. LLC. And Netflix should “definitely be a beneficia...