Author: Daniel snow

[ad_1] Euro zone inflation rose slightly to 2% in June, according to flash data from statistics agency Eurostat, meaning consumer prices in the single currency area are now in line with the European Central Bank’s target of 2%.Economists polled by Reuters had expected the reading to come in at 2% in the twelve months to June. Euro zone inflation had fallen by more than expected to 1.9% in May.Core inflation, which excludes energy, food, tobacco and alcohol prices, was unchanged at 2.3% in June.The closely watched services inflation print picked up to 3.3% in June, after cooling significantly in May to…

Read More

[ad_1] Elon Musk announced his new company xAI, which he says has the goal to understand the true nature of the universe.Jaap Arriens | Nurphoto | Getty ImagesXAI, the artificial intelligence startup run by Elon Musk, raised a combined $10 billion in debt and equity, Morgan Stanley said.Half of that sum was clinched through secured notes and term loans, while a separate $5 billion was secured through strategic equity investment, the bank said on Monday.The funding gives xAI more firepower to build out infrastructure and develop its Grok AI chatbot as it looks to compete with bitter rival OpenAI, as…

Read More