Author: Press Room

2/2 © Reuters. FILE PHOTO: Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo 2/2 SHANGHAI (Reuters) – Chinese search engine giant Baidu (NASDAQ:) has filed lawsuits against “relevant” app developers and Apple Inc (NASDAQ:) over fake copies of its Ernie bot app available on Apple’s app store. The company’s artificial intelligence powered Ernie bot, launched last month, has been touted as China’s closest answer to the U.S.-developed chatbot ChatGPT. Baidu said it had lodged lawsuits in Beijing Haidian People’s Court against the developers behind the counterfeit…

By Ambar Warrick Investing.com — Gold prices rose in Asian trade on Thursday as softer-than-expected U.S. inflation data spurred bets on an early rate-hike pause by the Federal Reserve, while growing fears of a recession also supported safe haven buying. The yellow metal pushed further above the $2,000 mark this week, and was now about $50 away from a 2020 record high. Softer-than-expected U.S. was the trigger for gold’s latest rally, as markets began pricing in the possibility that will pause its rate hike cycle as soon as June. The showed that policymakers were considering a pause in rate hikes.…

TOKYO (Reuters) – Following the Bank of Japan’s launch this month of a pilot programme to test the use of a digital yen, the Ministry of Finance plans to convene a meeting of experts on April 21 to discuss the way forward. The nine experts, who include academics, economists, a lawyer and a consumer group representative, will meet regularly, and compile a report by the end of this year. Central banks around the world have scrambled to develop digital currencies to modernize financial systems and facilitate domestic and cross-border payments. But Japan remains undecided on whether to issue a central…

By Leika Kihara TOKYO (Reuters) – New Bank of Japan Governor Kazuo Ueda’s main challenge will be to phase out its controversial yield curve control policy, which has come under criticism for distorting markets by keeping long-term interest rates from rising. Ueda, who took office on Sunday, chairs his first policy meeting on April 27-28. In parliamentary hearings in February, Ueda stressed the need to maintain ultra-low interest rates, but said he had ideas on how to exit the bank’s massive stimulus. Here are options the BOJ could take to change its yield curve control (YCC) policy, which applies a…

Topline Shares of Chinese internet giant Alibaba plummeted on Thursday following a report Japanese tech investor SoftBank has sold almost all of its remaining stake, further paring a formerly lucrative and expansive partnership as the Chinese group explores a radical shakeup amid increasing government scrutiny. Key Facts SoftBank has sold around $7.2 billion worth of Alibaba shares this year via prepaid forward contracts, the Financial Times reported on Wednesday. The sales, uncovered through an analysis of the Japanese tech investor’s regulatory filings, will reduce SoftBank’s stake in Alibaba from almost 15% to just 3.8%, the FT reported. SoftBank declined to…

The marital home is often a couple’s largest asset and can also be their largest debt. It is where families are started, children are raised, and memories are shared. There are typically strong feelings about the marital home post-divorce given it is commonly the asset with the most emotional ties for the family. Besides all the emotions and memories wrapped up in the property, there are several financial and social implications to consider when deciding whether it is in your best interest to keep your marital home after divorce. Affordability Likely the most important consideration when weighing your housing options…

The IRS may have your money. The tax agency has announced that more than $1.5 billion in outstanding refunds remain unclaimed from the 2019 tax year. The agency estimates that more than 1.5 million taxpayers might have qualified for a refund but did not file a federal income tax return for the 2019 tax year. Tax Refund Deadline If you are due a refund, you must file a federal income tax return to get your money. Taxpayers usually have three years to file and claim their tax refunds—if you don’t file within three years, the money becomes the property of…

The European Union will launch an 11th wave of sanctions on Russia and seek to crack down on efforts to evade economic penalties introduced in the wake of its full-scale invasion of Ukraine, a top EU official told CNBC Thursday.”Europe has rolled out 10 packages of sanctions. We will have another package,” Mairead McGuinness, EU commissioner for financial stability, financial services and capital markets union, told CNBC’s Joumanna Bercetche at the International Monetary Fund’s spring meeting in Washington, D.C.EU countries have been in talks about drawing up a fresh round of sanctions against Russia in recent weeks and McGuinness confirmed…

A settlement that will allow thousands of student loan debts to be canceled will go into effect after the Supreme Court on Thursday declined to block it.The Supreme Court in a brief order rejected a request made by colleges challenging the settlement.The class-action settlement concerns loans that borrowers claim should be canceled because they were taken out based on misrepresentation made by their schools, many of which are for-profit. The settlement could be worth more than $6 billion.The case arises from a settlement that California-based U.S. District Judge William Alsup approved in November in a case brought by borrowers. The government has already started…

A former Fox News producer who claims the right-wing network pressured her to give false testimony escalated her own lawsuit against the company, adding CEO Suzanne Scott as defendant and accusing Fox’s lawyers of deleting messages from her phone. In explosive lawsuits filed last month, Abby Grossberg claimed Fox lawyers bullied her into protecting the network and its on-air personalities in her deposition for the Dominion Voting Systems’ case. Grossberg now accuses Scott of being complicit in the alleged coercion, according to her amended lawsuit. Fox News has previously said her lawsuits are “riddled with false allegations” and says its…