Latest news with #bloc
Wall Street Journal
12 hours ago
- Business
- Wall Street Journal
Japan Trade Deal and European Talks Send U.S. Stocks Higher
The S&P 500 index notched its third consecutive record high Wednesday, with a U.S.-Japan tariff deal and signs of progress with other trade partners lifting the Dow Jones Industrial Average more than 500 points. Stock indexes started the day higher after the Japan pact was disclosed late Tuesday, then climbed to new highs after reports that the European Union is negotiating a trade agreement with the Trump administration that would see the bloc accept 15% tariffs on most exports to the U.S.
Yahoo
2 days ago
- Politics
- Yahoo
Moldova's pro-Russian parties unite to seek September election win
CHISINAU (Reuters) -Four pro-Russian parties in Moldova said on Tuesday they will form a bloc in order to secure victory in September's parliamentary election and beat the current pro-European government. The vote, scheduled for September 28, could see President Maia Sandu's Party of Action and Solidarity unable to secure a majority in the ex-Soviet state lying between Ukraine and Romania. The bloc will merge the Party of Socialists, headed by former president Igor Dodon, the Heart of Moldova and Future of Moldova parties, as well as the Communist Party. "We are in favour of re-establishing strategic ties with Russia. We want peace, not war ... Our bloc will put an end to foreign interests and NATO," Dodon told a press conference as he introduced the new union. Sandu won re-election last year by a razor-thin margin over a Socialist challenger and a referendum asking voters to back the drive for EU membership only just cleared a 50% majority. On July 19, Moldova's election committee refused to register the bloc Victory, formed in 2024 and backed by pro-Kremlin fugitive oligarch Ilan Shor, for the vote. Moldovan officials have said that Shor has played a leading role in Russian-backed interference aimed at derailing Moldova's EU course. Shor denies the allegations and dismissed the decision as absurd. Solve the daily Crossword
Bloomberg
6 days ago
- Business
- Bloomberg
Europe's Russia Sanctions Pile Pressure on Tight Diesel Market
The European Union's latest round of Russian sanctions have added yet more pressure on an already tight diesel market in the region that is a large importer of the fuel. The EU confirmed on Friday that it would press ahead with a ban on the import of diesel that is made from Russian crude. Prior to the decision, some traders had been skeptical that the the bloc would go through with such a step.
TechCrunch
6 days ago
- Business
- TechCrunch
Meta refuses to sign EU's AI code of practice
Meta has refused to sign the European Union's code of practice for its AI Act, weeks before the bloc's rules for providers of general-purpose AI models take effect. 'Europe is heading down the wrong path on AI,' wrote Meta's chief global affairs officer Joel Kaplan in a post on LinkedIn. 'We have carefully reviewed the European Commission's Code of Practice for general-purpose AI (GPAI) models and Meta won't be signing it. This Code introduces a number of legal uncertainties for model developers, as well as measures which go far beyond the scope of the AI Act.' The EU's code of practice — a voluntary framework published earlier this month — aims to help companies implement processes and systems to comply with the bloc's legislation for regulating AI. Among other things, the code requires companies to provide and regularly update documentation about their AI tools and services; bans developers from training AI on pirated content; and comply with content owners' requests to not use their works in their data sets. Calling the EU's implementation of the legislation 'over-reach,' Kaplan claimed that the law will 'throttle the development and deployment of frontier AI models in Europe, and stunt European companies looking to build businesses on top of them.' A risk-based regulation for applications of artificial intelligence, the AI Act bans some 'unacceptable risk' use cases outright, such as cognitive behavioral manipulation or social scoring. The rules also define a set of 'high-risk' uses, such as biometrics and facial recognition, and in domains like education and employment. The act also requires developers to register AI systems and meet risk and quality management obligations. Tech companies from across the world, including those at the forefront of the AI race like Alphabet, Meta, Microsoft and Mistral AI have been fighting the rules, even urging the European Commission to delay its roll out. But the Commission held firm, saying it will not change its timeline. Also on Friday, the EU published guidelines for providers of AI models ahead of rules that will go into effect on August 2. These rules would affect providers of 'general-purpose AI models with systemic risk,' like OpenAI, Anthropic, Google, and Meta. Companies that have such models on the market before August 2 will have to comply with the legislation by that date.
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
Meta Won't Sign EU's AI Code of Practice, Chief Global Affairs Officer Says
Meta Platforms won't sign the European Union's code of practice for general-purpose artificial intelligence because it adds legal uncertainty and brings in measures that go beyond the scope of AI legislation in the bloc, Chief Global Affairs Officer Joel Kaplan said. 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.
