Nippon Steel would move its U.S. headquarters to Pittsburgh where its acquisition target U.S. Steel is based if the deal goes through, an executive said, adding to the pledges from the Japanese steelmaker to secure the transaction. Nippon Steel's proposed $15-billion takeover of U.S. Steel has drawn sharp criticism in the United States where President Joe Biden said last week the asset should remain domestically owned while his opponent in November presidential vote, Donald Trump, promised to block the deal if he is re-elected. The Japanese company, the world's fourth biggest steelmaker, has been in talks with the United Steelworkers (USW), a labour union key for Biden and Trump in the upcoming November elections and which so far was opposing the deal.
(Bloomberg) -- Asian shares marginally fell before a Bank of Japan policy decision where authorities are likely to bring an end to the world’s last negative rates regime.Most Read from BloombergApple Is in Talks to Let Google Gemini Power iPhone AI FeaturesMusk Says His Ketamine Prescription Is in Investors’ Best InterestsPutin Warns Russia Won’t Stop After Predictable Election WinNvidia Unveils Successor to Its All-Conquering AI ProcessorTrump Rules Out Vivek Ramaswamy as Running Mate as He Eye
(Bloomberg) -- Gunvor Group Ltd. Chief Executive Officer Torbjörn Törnqvist estimates about 600,000 barrels of Russia’s daily oil-refining capacity has been knocked out by Ukrainian drone strikes.Most Read from BloombergApple Is in Talks to Let Google Gemini Power iPhone AI FeaturesMusk Says His Ketamine Prescription Is in Investors’ Best InterestsPutin Warns Russia Won’t Stop After Predictable Election WinNvidia Unveils Successor to Its All-Conquering AI ProcessorTrump Rules Out Vivek Ramaswamy
Nvidia on Monday unveiled software aimed at making it easier for businesses to incorporate artificial intelligence systems into their work, broadening the chipmaker's offerings. The release highlights Nvidia's push to expand its presence in the AI application execution sector, called inference, where the company's chips don't dominate the market, said Joel Hellermark, CEO of Sana, a maker of AI assistants for companies. Nvidia is best known for providing the chips used to train so-called foundation models like OpenAI's GPT-4.
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