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LONDON (AP) — U.K. Prime Minister Keir Starmer is facing a battle for his job after his Labour Party suffered a calamitous set of results in local elections last week that if repeated at a general election would see it comprehensively ejected from power. Despite winning a landslide election victory in July 2024, Labour’s popularity has sunk and Starmer is getting much of the blame. The reasons why are varied, […]

FRANKFURT, May 12 (Reuters) – Germany’s banking regulator BaFin warned on Tuesday that cyber risks were “growing” and “substantial” due to advances in artificial intelligence, and announced a new division will conduct targeted inspections at financial firms. The emergence of Anthropic’s Mythos has set up a scramble from the global banking industry to gain access and test ​the technology as regulators rush to examine the cybersecurity risks the new artificial […]

By Foo Yun Chee LUXEMBOURG, May 12 (Reuters) – Meta Platforms on Tuesday lost its fight against an Italian regulatory order that it should compensate publishers for using snippets of their news articles after Europe’s top court sided with the Italian telecoms watchdog. The case underscores the ongoing copyright battle between publishers and creators and tech companies over the use of newspaper articles or authors’ work for AI training that […]

LeBron James wasn’t ready to make a decision about his NBA future in the wake of the Los Angeles Lakers’ season-ending loss to the Oklahoma City Thunder on Monday. The visiting Thunder prevailed 115-110 to sweep a Western Conference semifinal series despite James registering 24 points and a game-high 12 rebounds. James, 41, just completed his record-setting 23rd NBA season, and the league’s all-time leading scorer is heading into unrestricted […]

BRUSSELS, May 12 (Reuters) – The European Union is working on regulations to reign in on social media’s business models to protect children and youth, European Commission’s President Ursula von der Leyen said on Tuesday. The many damages caused to children and youth by exposure to social media are no accident “but the result of business models that treat our children’s attention as a commodity,” she said in a speech […]

FRANKFURT, May 12 (Reuters) – Thyssenkrupp Nucera has implemented a hiring freeze in high-cost countries as part of broader saving measures, it said on Tuesday, after its second-quarter loss widened due to higher costs for hydrogen projects and the termination of a U.S. pilot project. Finance chief Stefan Hahn said during a conference call that cost measures were expected to deliver around 25 million euros ($29 million) in annual savings […]

TOKYO, May 12 (Reuters) – Japan’s Panasonic Holdings said on Tuesday it expected full-year profit at its energy unit, which supplies batteries to Tesla, to more than double, recovering after posting a quarterly loss. Operating income for the key segment is expected to total 171 billion yen ($1.09 billion) in the year ending March 2027, versus 69.8 billion yen in the year just ended. The business, which posted a 3.8-billion-yen […]

SYDNEY, May 12 (Reuters) – An Australian court on Tuesday ordered miner Fortescue to pay A$150 million ($108 million) in compensation to an Indigenous group for cultural loss caused by iron ore mining on their land without their permission. The decision marks one of the largest ever payouts in Australia’s history brought under native title laws recognising Indigenous rights and interests in certain parcels of land. Federal Court Judge Stephen […]

By Kane Wu HONG KONG, May 12 (Reuters) – Carlyle Group and Yum China Holdings are among suitors vying for a Jardine Matheson restaurant unit that runs KFC and Pizza Hut chains in Hong Kong, Taiwan and other Asian markets, said two sources with knowledge of the sale. The deal, which could fetch around $400 million, has also attracted interest from Taiwanese food conglomerate Uni-President as well as other private […]