Meta Won't Sign EU's AI Code of Practice, Chief Global Affairs Officer Says
The European Commission, the EU's executive arm, last week published the final version of a voluntary code of practice. Model providers can choose whether to sign the code, which EU officials said would help companies to comply with the bloc's wide-ranging legislation on AI.
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Yahoo
27 minutes ago
- Yahoo
Morning Bid: Remembering the downsides to tariffs
(Reuters) -A look at the day ahead in European and global markets from Wayne Cole. Asian markets have been quietly picking up the pieces after the U.S./EU tariff party turned into a bust. It was like being relieved because somebody only burned half your house down. Hey, at least they left the kitchen and the bathroom. European stock futures are fractionally firmer and the single currency has steadied just under $1.1600. The euro's rapid retreat was not entirely a surprise given how crowded the long euro/short dollar trade had got, and the suspicion is speculators will soon be selling the dollar again. After all, come Friday U.S. consumers will be paying a minimum of 15% on all imports into the country, and for the foreseeable future. This tax will squeeze demand and profit margins at home, while eating into export earnings across the globe. These are called beggar thy neighbour policies for a reason. There's also the rather naive notion that such "deals" guarantee a period of certainty ahead. Just look how Trump suddenly gave Russia 10 to 12 days to move on a ceasefire with Ukraine, having set a deadline of 50 days earlier this month. This did not seem in any way planned. Trump just said it off the cuff at a media conference at his golf club in Scotland. If such a deadline can be changed on a whim, who's to say anything agreed in these trade deals cannot be altered at his pleasure. Trump has seen how trade and tariffs can dominate the global news cycle; there's no way he's giving that up anytime soon. Talks with China, for instance, are set to continue in Stockholm today and everybody assumes the deadline for an agreement will be extended by another 90 days. This, entirely incidentally, will allow time for Trump to meet Chinese President Xi Jinping and personally claim yet another biggest deal of all time. For its part, Wall St remains in a world of its own, counting on upbeat results from megacaps this week to justify valuation measures that are the highest since the late 1990s. Meta and Microsoft are due on Wednesday, Apple and Amazon the day after. A slew of European companies also report earnings today. Key developments that could influence markets on Tuesday: - U.S. data on job openings, June trade balance and Conference Board consumer confidence - Fed's two-day meeting starts Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
San Francisco Chronicle
44 minutes ago
- San Francisco Chronicle
Trump caps his Scottish visit by opening a new golf course
BALMEDIE, Scotland (AP) — President Donald Trump is opening a new golf course bearing his name in Scotland on Tuesday, capping a five-day foreign trip designed around promoting his family's luxury properties and playing golf. Trump and his sons Eric and Donald Jr. are cutting the ceremonial ribbon and playing the first-ever round at the new Trump course in the village of Balmedie, on the northern coast of Scotland. Also from the country's north is the president's late mother, Mary Anne MacLeod, who was born on the Isle of Lewis, immigrated to New York and died in 2000 at age 88. 'My mother loved Scotland,' Trump said during a meeting with British Prime Minister Keir Starmer on Monday at another one of his golf courses, Turnberry, on Scotland's southern coast. 'It's different when your mother was born here.' Trump used his trip to meet with Starmer and reach a trade framework for tariffs between the U.S. and the European Union's 27 member countries — though scores of key details remain to be hammered out. The overseas jaunt let Trump escape Washington's sweaty summer humidity but also the still-raging scandal over the files related to Jeffrey Epstein. But it was mostly built around golf — and walking the new course before it officially begins selling rounds to the public on Aug. 13, adding to a lengthy list of ways Trump has used the White House to promote his brand. Trump's assets are in a trust, and his sons are running the family business while he's in the White House. But any business generated at the course will ultimately enrich the president when he leaves office. The new golf course will be the third owned by the Trump Organization in Scotland. Trump bought Turnberry in 2014 and owns another course near Aberdeen that opened in 2012. Trump golfed on Saturday as protesters took to the streets, and on Sunday. He invited Starmer, who famously doesn't golf, aboard Air Force One so the prime minister could get a private tour of his Aberdeen property before Tuesday's ceremonial opening. 'Even if you play badly, it's still good,' Trump said of golfing on his course over the weekend. 'If you had a bad day on the golf course, it's OK. It's better than other days.' Trump even found time at Turnberry to praise its renovated ballroom, which he said he'd paid lavishly to upgrade — even suggesting that he might install one like it at the White House. 'I could take this one, drop it right down there," Trump joked. 'And it would be beautiful.'
Business Insider
an hour ago
- Business Insider
Closing Bell Movers: Sarepta surges as FDA may lift Elevidys shipments pause
In the early hours of the evening session, U.S. equity futures were mixed, as investors continue to digest U.S. trade developments with the EU, China, and South Korea. Even with earnings season continuing into a new week, one of the most notable movers in Monday's postmarket session is Sarepta (SRPT), which surged after the FDA recommended the removal of a voluntary hold on the company's Elevidys for ambulatory patients. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGS – Crane (CR) up 4.75% ALSO HIGHER – Sarepta (SRPT) up 48% after the FDA told Sarepta it may lift its voluntary pause on shipments of Elevidys ScanTech (STAI) up 41.5% after securing a Letter of Intent from Visiontec Systems for multiple SENTINEL systems Cadence Design (CDNS) up 6.5% after reporting quarterly results and after the DOJ said the campaign will pay over $140M in penalties to resolve an illegal sales probe LOWER AFTER EARNINGS – Leslie's (LESL) down 28.2% Whirlpool (WHR) down 13% Exelixis (EXEL) down 12.5% VeriSign (VRSN) down 7.5% NOV Inc. (NOV) down 6.8% Nucor (NUE) down 5.8% Woodward (WWD) down 3.3% Brown & Brown (BRO) down 2.5% ALSO LOWER – Bakkt (BKKT) own 28.1% after reporting preliminary Q2 results, agreeing to sell its Loyalty business to Project Labrador Holdco, and announcing an offering of class A shares and warrants
