Latest news with #Rincon
Time of India
23-05-2025
- Business
- Time of India
Rio Tinto CEO Jakob Stausholm to step down in surprise move
This is a representative AI image (Pic credit: Lexica) Jakob Stausholm, the CEO of mining giant Rio Tinto, will step down later this year, the company announced on Thursday, marking a surprise move. Stausholm, who led the company through a period of significant cultural and strategic transformation, will remain in his role until a successor is named. Rio Tinto did not specify the reason for Stausholm's departure, saying only that the succession process is already underway and this was deemed "a natural moment" for leadership change. Analysts, however, expressed surprise at the timing and lack of a clear rationale. "This news comes as a big surprise, and in our view was not expected," said Richard Hatch , an analyst at Berenberg. "It does not feel that natural to us." Stausholm took the helm in late 2020 following the destruction of the Juukan Gorge Aboriginal heritage site in Western Australia, an incident that triggered widespread condemnation and led to the resignation of his predecessor. One of his first major actions as CEO was to commission a comprehensive review of the company's workplace culture, which exposed systemic issues, including racism, bullying and harassment. Under his leadership, Rio Tinto committed to improving its environmental, social and governance (ESG) standards and pivoted toward future-facing minerals, most notably lithium. The company has made several strategic investments in battery metal, including the Rincon project in Argentina, a $6.7 billion acquisition of US-based Arcadium Lithium, and a $900 million investment in the Maricunga lithium project in Chile through a partnership with Codelco. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo "We had expected Mr Stausholm to remain with the company and drive the integration of the lithium business, so his exit comes as a surprise," Hatch added. The company has yet to name a successor, but internal candidates reportedly include chief commercial officer Bold Baatar, head of iron ore Simon Trott, and aluminium division head Jerome Pecresse. However, the board is also expected to conduct an external search. The process may be further complicated by speculation that BHP CEO Mike Henry could also be stepping down soon. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
22-05-2025
- Yahoo
Knife-wielding man arrested in attempted robbery outside San Carlos Taco Bell: deputies
(KRON) — An East Palo Alto man is accused of brandishing a knife in an attempted robbery outside of a Taco Bell in San Carlos on Monday afternoon. Oakland couple jailed after Amber Alert for 2-year-old girl The San Mateo County Sheriff's Office said its deputies were able to quickly locate and arrest the suspect following the incident at 3:30 p.m. in the 200 block of El Camino Real. The victim told deputies that he was standing outside of the restaurant when the suspect — later identified as Alexis Rincon — walked up to him and 'demanded to see his belongings.' When the victim refused, Rincon allegedly pulled out a knife then fled. The knife believed to be used in the incident was later recovered by investigators, SMCSO said. Rincon faces several charges, including attempted second-degree robbery, brandishing a deadly weapon and a probation violation, said SMCSO. Anyone with additional information on this case is encouraged to call the San Mateo County Sheriff's Office at (650) 363-4911 or leave an anonymous tip at 1-800-547-2700. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business of Fashion
20-05-2025
- Business
- Business of Fashion
AI Shopping Is Coming to Google
Google is looking to further integrate artificial intelligence into how people discover and buy products online, including a feature that can complete checkout on a user's behalf. The search company announced a set of shopping-related updates at its annual I/O developer conference Tuesday. Shopping will be a key capability of its new AI mode, which Google plans to roll out to all US users in the coming weeks after testing it in its experimental platform, Search Labs. AI mode expands the AI-generated overviews Google provides at the top of search results and gives summarised answers to queries rather than lists of links, similar to the AI experiences offered by competitors such as ChatGPT. Shoppers will be able to ask complex questions, such as what pairs well with a particular item or what's a good travel bag for rainy weather, and the AI will respond with answers and relevant product listings that the shopper can further refine with additional questions. Shopping in Google's AI Mode. (Google) Users of Google's payment service, Google Pay, will additionally get the ability to have AI purchase products for them. The feature, which Google will make available in the months ahead, allows users to be notified when an item they've selected, down to specifications such as size and colour, falls to a price they've set. If they click the option to buy within the notification, Google's AI will go to the product listing, add it to cart and purchase it for the user. Google will also begin testing a feature on Tuesday that for the first time will allow users to apply its virtual try-on technology to pictures of themselves. Where previously they could only see how products would appear on different models Google selected, now they'll be able to upload a full-length photo of themselves to see how any of millions of apparel items in Google's shopping listings might look on them. The option will only be available in Search Labs, but Lilian Rincon, vice president of product for Google Shopping, said the company is always evaluating whether it can roll out features it's testing to all users. 'Over the last few years, we have really been trying to transform Google shopping with AI,' Rincon said. Shopping has become an active new frontier in AI. In April, OpenAI announced it would launch shopping within ChatGPT, following AI company Perplexity's release of its own shopping feature late last year. Tech companies and fashion executives alike are hoping AI could improve online shopping by making it easier for shoppers to sift through the often-overwhelming number of options available and find the right product. Half of executives identified search and discovery as the area where generative AI held the most potential in the State of Fashion 2025 by The Business of Fashion and McKinsey. Agentic checkout with Google Pay. (Google) At the same time, the volume of search traffic to retailers from AI sites is quickly growing. Adobe Analytics found that, during the 2024 holiday season, traffic from generative-AI sources grew 1,300 percent compared to the previous year, and in February, after the holiday season had ended, traffic was still up 1,200 percent compared to July 2024. Rincon said Google sees shopping in AI mode as just another way for consumers to find and buy products, not as a replacement for Google's traditional search and shopping options. Shoppers who are logged into Google will also see results that are more personalised based on their past activity. 'This is finally a way to be able to have a tailored conversation with Google to get at exactly what you want,' she said. Generative AI hasn't been without its stumbles. One of the biggest challenges for the technology, rooted in making statistically probable inferences rather than genuine understanding, is hallucinations where it provides inaccurate information. Google's AI overviews, for instance, occasionally contain incorrect details. It raises the question of whether an AI agent could show you the wrong price for a product and then complete a purchase that you authorised at a cost you wouldn't have accepted otherwise. Google is being very cautious with its agentic checkout and the issue of hallucinations more broadly, according to Rincon. If the product is priced higher than a user agrees to pay, the AI wouldn't buy it, she said. The information it uses is drawn from Google's shopping graph, the company's data set of more than 50 billion product listings, about 2 billion of which are refreshed every hour. Rincon also noted that Google doesn't share any photos users upload for virtual try-on with other services. Users will for the first time be able to upload photos of themselves to see how items might look on them. (Google) While some brands might welcome the growth of AI shopping, others could be worried that their products won't be surfaced in the results users see. Rincon's advice is the same they've given to brands looking to keep their items at the top of Google Shopping: Make sure all your product information is up to date on your sites and in Google's Merchant Center. 'We're just continuously listening to feedback from users and from merchants to bring shopping to this new era,' she said.
Reuters
20-05-2025
- Business
- Reuters
Argentina approves $2.5 bln Rio Tinto lithium mining project
BUENOS AIRES, May 20 (Reuters) - Argentina's government on Tuesday approved a $2.5 billion lithium mining project by Anglo-Australian giant Rio Tinto, marking the first mining project under a new investment incentive regime. The approval of Rio Tinto's Rincon project under the RIGI incentive scheme was announced by the country's mining and energy coordination secretary Daniel Gonzalez at a conference in the capital Buenos Aires.
Yahoo
20-05-2025
- Business
- Yahoo
Argentina approves $2.5 billion Rio Tinto lithium mining project
BUENOS AIRES (Reuters) - Argentina's government on Tuesday approved a $2.5 billion lithium mining project by Anglo-Australian giant Rio Tinto, marking the first mining project under a new investment incentive regime. The approval of Rio Tinto's Rincon project under the RIGI incentive scheme was announced by the country's mining and energy coordination secretary Daniel Gonzalez at a conference in the capital Buenos Aires. Sign in to access your portfolio
