OpenAI to appeal New York Times suit demand asking to not delete any user chats
OpenAI
said on Thursday that it is appealing The New York Times' lawsuit demanding that the ChatGPT-maker retain consumer
ChatGPT
and API customer data indefinitely.
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Economic Times
2 hours ago
- Economic Times
Donald Trump says China's Xi Jinping agreed to let rare earth minerals flow to US
NYT News Service FILE - President Donald Trump meets with President Xi Jinping of China at the G20 Summit in Osaka, Japan, June 29, 2019. China and the United States on June 5, 2025 agreed to hold more trade talks in hopes of breaking an impasse over tariffs and global supplies of rare earth minerals, a move that came after Trump and Xi spoke by phone. (Erin Schaff/The New York Times) U.S. President Donald Trump said on Friday that Chinese President Xi Jinping agreed to let rare earth minerals and magnets flow to the United States, a move that could lower tensions between the world's biggest economies. Asked by a reporter aboard Air Force One whether Xi had agreed to do so, Trump replied: "Yes, he did." The Chinese embassy in Washington did not immediately respond to a request for comment. Trump's comment came one day after a rare call with Xi aimed at resolving trade tensions that have been brewing over the topic for weeks. At that time, Trump said there had been "a very positive conclusion" to the talks, adding that "there should no longer be any questions respecting the complexity of Rare Earth products." In another sign of easing tensions over the issue, China has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter said. The U.S. president's top aides are set to meet their Chinese counterparts in London on Monday for further talks. "We're very far advanced on the China deal," Trump told reporters on Friday. The countries struck an agreement on May 12 in Geneva, Switzerland, to roll back for 90 days most of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump's January inauguration. Financial markets that had worried about trade disruptions rallied on the news. But China's decision in April to suspend exports of a wide range of critical minerals and magnets has continued to disrupt supplies needed by automakers, computer chip manufacturers and military contractors around the world. Trump had accused China of violating the Geneva agreement and ordered curbs on chip-design software and other shipments to China. Beijing rejected the claim and threatened counter measures. Rare earths and other critical minerals are a source of leverage for China as Trump could come under domestic political pressure if economic growth sags because companies cannot make mineral-powered products. Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives.
Time of India
2 hours ago
- Time of India
China okays rare earth licences to suppliers of top three US auto companies
China has granted temporary export licenses to rare-earth suppliers of the top three US automakers, two sources familiar with the matter said, as supply chain disruptions begin to surface from Beijing's export curbs on those materials. At least some of the licenses are valid for six months, the two sources said, declining to be named because the information is not public. It was not immediately clear what quantity or items are covered by the approval or whether the move signals China is preparing to ease the rare-earths licensing process, which industry groups say is cumbersome and has created a supply bottleneck. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with US President Donald Trump . China produces around 90% of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts. Suppliers of three big US automakers, General Motors , Ford and Jeep-maker Stellantis got clearance for some rare earth export licenses on Monday, one of the two sources said. GM and Ford each declined to comment. Stellantis said it is working with suppliers "to ensure an efficient licensing process" and that so far the company has been able to "address immediate production concerns without major disruptions." China's Ministry of Commerce did not immediately respond to a faxed request for comment. China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions. On Thursday, Trump and Chinese President Xi Jinping had a lengthy phone call to iron out trade differences. Trump said in social-media post that "there should no longer be any questions respecting the complexity of Rare Earth products." Both sides said teams will meet again soon. US auto companies are already feeling the impact of the restrictions. Ford shut down production of its Explorer SUV at its Chicago plant for a week in May because of a rare-earth shortage, the company said.
Time of India
6 hours ago
- Time of India
India will need 50L new CAs by 2050, says ICAI president
Vadodara: By 2050, India will require 50 lakh new chartered accountants (CAs) to support its rapidly expanding economy, said Charanjot Singh Nanda, president of the Institute of Chartered Accountants of India (ICAI), on Friday. Nanda was speaking at the inaugural session of a two-day national conference titled 'Veda Excellence', hosted by the Vadodara branch of ICAI's Western India Regional Council in collaboration with the Anand and Bharuch branches. "Currently, India has around 4.85 lakh registered CAs. With economic growth, the demand for qualified professionals will increase significantly," Nanda said. Highlighting ICAI's digital initiatives, he said the institute has provided students free access to ChatGPT and launched CA-GPT, an AI-powered tool that sources answers exclusively from ICAI's internal resources. "This tool has been widely appreciated for aiding professionals in areas like accounting, auditing, and taxation," he noted. Responding to the move by company secretary and cost accountant bodies seeking inclusion of their members in the definition of 'accountants', Nanda maintained that tax and other audits should remain the domain of CAs, as they are best equipped and trained for these responsibilities. Nanda also announced the launch of a certificate course on artificial intelligence — AI for CAs (Level 1) — aimed at helping professionals adapt to emerging technologies. The second level of the course will be launched soon, he added. The two-day conference in Vadodara will cover eight sessions, including those on technical and non-technical topics like direct and indirect taxes, capital market, and even work-life balance. Around 650 participants from across the country are participating in the conference. Vadodara: By 2050, India will require 50 lakh new chartered accountants (CAs) to support its rapidly expanding economy, said Charanjot Singh Nanda, president of the Institute of Chartered Accountants of India (ICAI), on Friday. Nanda was speaking at the inaugural session of a two-day national conference titled 'Veda Excellence', hosted by the Vadodara branch of ICAI's Western India Regional Council in collaboration with the Anand and Bharuch branches. "Currently, India has around 4.85 lakh registered CAs. With economic growth, the demand for qualified professionals will increase significantly," Nanda said. Highlighting ICAI's digital initiatives, he said the institute has provided students free access to ChatGPT and launched CA-GPT, an AI-powered tool that sources answers exclusively from ICAI's internal resources. "This tool has been widely appreciated for aiding professionals in areas like accounting, auditing, and taxation," he noted. Responding to the move by company secretary and cost accountant bodies seeking inclusion of their members in the definition of 'accountants', Nanda maintained that tax and other audits should remain the domain of CAs, as they are best equipped and trained for these responsibilities. Nanda also announced the launch of a certificate course on artificial intelligence — AI for CAs (Level 1) — aimed at helping professionals adapt to emerging technologies. The second level of the course will be launched soon, he added. The two-day conference in Vadodara will cover eight sessions, including those on technical and non-technical topics like direct and indirect taxes, capital market, and even work-life balance. Around 650 participants from across the country are participating in the conference. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
