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Oracle put its cloud rival’s AI inside its business apps, and the stock jumped 8%

Oracle has just put its cloud rival’s AI at the heart of the software its customers run their businesses on. Investors cheered. The company said on Thursday it is expanding its Google Cloud partnership to bring Gemini into Oracle’s enterprise applications. Gemini will slot into Oracle AI Agent Studio for Fusion Applications. It will also […]

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The EU clears the $55bn Saudi-led buyout of EA under its subsidy rules

The European Commission approved the PIF-led take-private of Electronic Arts under its Foreign Subsidies Regulation, removing one of the last hurdles to the biggest leveraged buyout ever. The European Union has cleared the $55bn takeover of Electronic Arts by a Saudi-led consortium, removing one of the last regulatory hurdles to the largest leveraged buyout in […]

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Amazon jumps as AWS growth soothes fears over its AI spending

Amazon shares jumped more than 12% after its cloud division posted its fastest growth in over four years, easing investor fears that the company’s ballooning AI spending was running ahead of the payoff. Amazon Web Services grew 37% in the second quarter, well past the roughly 31% analysts expected, adding something like $300bn to Amazon’s […]

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Lloyds Bank bets on AI to cut £2bn in costs by 2030 as profits jump

Lloyds Banking Group is betting on artificial intelligence to strip £2bn from its costs by 2030, the clearest sign yet that Britain’s biggest high-street lender sees automation as central to its future. The target, unveiled alongside half-year results that showed pre-tax profit up 23%, lands just as Morgan Stanley warns European banks could shed a […]

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