By Daniel Wiessner (Reuters) -President Donald Trump's administration on Wednesday moved quickly to appeal a federal judge's ruling temporarily blocking Trump from taking the unprecedented step of firing Federal Reserve Governor Lisa Cook. The U.S. Department of Justice filed a brief notice that it was appealing the ruling from late Tuesday by U.S. District Judge Jia Cobb, who said Trump's claims that Cook committed mortgage fraud prior to taking office were likely not sufficient grounds for her removal. ...

Fast-growing e-commerce parcel carrier Veho on Wednesday announced the expansion of its delivery footprint to Southern California, underscoring how competition in the parcel sector is heating up. Parcel shippers have increasingly turned to alternative carriers like Veho for lower delivery costs as FedEx, UPS and the U.S. Postal Service raise rates and surcharges. Veho is now providing delivery services to much of Los Angeles, Long Beach, Orange Country and the Inland Empire, allowing e-commerce brands to ...

MILAN – Kering’s new course continues to take shape. A day after the luxury group’s combined general meeting and the first public appearance of chief executive officer Luca De Meo, the French company and Mayhoola jointly announced that the current ownership structure of the Valentino house will not change before 2028 at the earliest. More from WWD This represents an amendment to their shareholders’ agreement, inked at the time of Kering’s acquisition of a stake in Valentino in 2023. Two years ago, Kering ...

Oracle Corp. stock rocketed as much as 40% in intraday trading—a rally so dramatic, it appears to have set a record for any company valued north of $500 billion. The trigger? A bold AI strategy finally paying off. At the heart of today’s fireworks is Oracle’s up-close-and-personal pivot into artificial intelligence infrastructure. The company revealed that its Oracle Cloud Infrastructure (OCI) business now expects massive revenue growth: CEO Safra Catz said OCI revenue is expected to reach $18 billion in ...

DeepL, a German translation startup valued at $2 billion, just fired a shot across the bow of artificial intelligence giants OpenAI, Microsoft (NASDAQ:MSFT), and Anthropic. The company launched DeepL Agent on Sept. 3, marking a move beyond translation services into the rapidly expanding enterprise AI market. DeepL CEO Jarek Kutylowski told CNBC the agent represents a natural evolution from translation technology. “We found out that the technology is as capable of helping you whenever you’re doing research ...

Bitcoin's (CRYPTO: BTC) path forward hinges on the Federal Reserve's Sep. 17 decision, with markets pricing around 30 basis points of easing. What Happened: Futures point to a high probability of a quarter-point move, while odds of a larger 50 basis point cut have grown, a scenario some analysts say could propel Bitcoin closer to all-time highs. Data from CME Group's FedWatch tool shows nearly 90% probability of a 25bps reduction and roughly 10% chance of a 50bps move. Polymarket's $21 million prediction ...

Since the launch of ChatGPT, which has facilitated widespread AI adoption, there has been considerable discussion about its impact on employment. While many jobs have seen increased productivity, others may face reduced demand, leading to lower wages and job losses. A report by the Institute for Public Policy Research (IPPR) warned that up to eight million jobs in the UK could be lost due to AI integration, particularly affecting part-time, entry-level, and back-office employment. The International Monet ...

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HERE Technologies and Amazon Web Services (AWS) have introduced 'SDV Accelerator' to help car manufacturers develop software-defined vehicles (SDVs) more rapidly. This initiative provides a set of guidelines, sample code, and a selection of AWS services and partner solutions that can be found in the AWS Marketplace. The aim is to make it easier for car companies to create vehicles with advanced technology features and improve their supply chain management. The SDV Accelerator expands upon the existing p ...

Robinhood Markets (Nasdaq: HOOD), the e-trading platform that offers stocks and cryptocurrencies, recently got added to the S&P 500 index. On Sep. 9, the exchange made a major announcement for users who depend a lot on social media for exchanging trading ideas. Related: What is Crypto? Cryptocurrency explained Robinhood Social The platform said it will launch a social media feature called Robinhood Social within its app, where users can share their gains, losses, strategies and make real-time market mov ...