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Visa, Mastercard and 140 firms launch Open USD, a stablecoin built to undercut Circle

Aconsortium of more than 140 financial and technology companies, among them Visa, Mastercard, Stripe and Coinbase, launched a new dollar-pegged stablecoin on Tuesday called Open USD. The venture, run by an independent company named Open Standard, is a direct swipe at the economics that have made Circle and Tether the dominant issuers in the sector. […]

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TikTok settles second addiction case, leaving Meta and Snap to face a jury alone

TikTok has reached a confidential settlement with a Florida teenager who accused the platform of contributing to his mental health problems, removing itself from a jury trial scheduled to begin on July 27 in Los Angeles. The deal, first reported by Bloomberg on Tuesday, makes TikTok the second defendant to exit the case in recent […]

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Google releases Nano Banana 2 Lite, its fastest and cheapest AI image generator yet

Google on Tuesday released Nano Banana 2 Lite, the fastest and cheapest model in its Nano Banana family of AI image generators. The model produces images in four seconds and costs under four cents per thousand images, making it the company’s most aggressive play yet for developers who need to generate visuals at scale. It […]

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Clicks shows off its BlackBerry-inspired Communicator phone in new hands-on video

Clicks Technology released a video on Tuesday showing the pre-production hardware and internal software of its Communicator, a $499 smartphone with a physical keyboard that is the closest thing to a new BlackBerry anyone has built in years. The phone was first unveiled at CES in January and is scheduled to ship in the fourth […]

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Nvidia rival Etched raises $800M with backing from Jane Street and a TSMC-linked fund

AI chip startup Etched has raised $800 million and revealed that its backers include trading firm Jane Street and VentureTech Alliance, a venture firm with a strategic partnership with TSMC. The company, which designs chips specifically for running AI models rather than training them, says it has signed one billion dollars in sales contracts and […]

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Bank of England’s Breeden warns AI agents could trigger market meltdowns

Deputy governor Sarah Breeden says autonomous trading agents could amplify volatility if they all react the same way at once, and may demand new rules. The nightmare a central banker describes is rarely a crash. It is a feedback loop. Speaking at the European Central Bank’s annual forum in Sintra, Portugal, the Bank of England’s […]

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Marc Andreessen joins the Pentagon’s board, and the old line blurs

Andreessen now advises the Pentagon’s leadership on the very decisions his firm has invested billions around. It is legal, and it raises a question the rules were built to answer. Pete Hegseth announced the membership of a freshly cleared-out Defense Policy Board, the advisory panel that counsels the Pentagon’s civilian leadership on force structure, modernisation, […]

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SAP hands AI product oversight to its CEO and COO in a reshuffle

Europe’s largest software company is redistributing product and engineering responsibilities in its second top-level reorganisation of the year, with AI at the centre. When a company reorganises its leadership once in a year, it is housekeeping. When it does so twice, with the same word at the centre of both, it is a strategy under […]

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Panasonic to localise US data-centre battery production, CEO says

The Japanese group plans to mass-produce data-centre battery cells in Kansas by fiscal 2028, redirecting a large slice of its AI infrastructure investment toward storage. The companies that built batteries for electric cars are discovering a new and hungrier customer: the data centre. Panasonic plans to localise production of data-centre battery cells in the United […]

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US House passes kids online safety package, setting up a Senate fight

After years in which children’s online safety bills passed the Senate and then died quietly in the House, the House moved first this time, and immediately reopened the argument that has stalled the effort for half a decade. On Monday it passed a sweeping youth online safety package by 267 to 117, the first time […]

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