it s far from the first time an association of creative professionals. this time, it s the recording industry association of america accused ai companies of stealing their material and have sought to stop them in court. back in april, some 200 artists, including billie eilish and nicki minaj, signed a letter calling the use of ai in the music industry predatory and saying it should be stopped. staying with artificial intelligence, shares of nvidia fell by around 7% on wall street on monday. the chip firm has lost more than $500 billion in market value since last week when it briefly overtook microsoft as the world s most valuable company. nvidia has benefited from the booming demand for chips by train and run generative ai models like open ais chatgpt. european union regulators have accused apple of breaking rules designed to rein in big tech companies, the european commission which regulates competition in the year you said apple s app store squeezes out rival marketplaces a
it also tops the stock market value of france, those are some of the world s largest economies. deutsche bank research crunch to the data. nvidia has enjoyed a meteoric rise, adding a full $1 trillion in market cap injust about a month this spring. the firm has been capitalising on the fever around artificial intelligence. the chips made by the company are used to power the ai applications that are in use and in development now and companies are betting they ll be instrumental in the future. shares of nvidia are up around 170% this year. in other news now chinese car companies are called on the government to hit european union rivals with import taxes of up to 25% if the trading bloc imposes tariffs on vehicles from china. that is the country s state media according to the state millionaire. there. that amount was reportedly made a closed door meeting made at the chinese industry of commerce which was attended by representatives of european car firms. the measures would t
those are some of the world s largest economies. deutsche bank research crunched the data. nvidia has enjoyed a meteoric rise, adding a full $1 trillion in market cap injust about a month this spring. the firm has been capitalising on the fever around artificial intelligence. the chips made by the company are used to power the ai applications that are in use and in development now and companies are betting they ll be instrumental in the future. shares of nvidia are up around 170% this year. in other news now chinese car companies are called in other news now chinese car companies have called on their government to hit european union rivals with import taxes of up to 25% if the trading bloc imposes tariffs on vehicles from china. that is the country s state media view. that amount was reportedly made a closed door meeting made at the chinese industry of commerce which was attended by representatives of european car firms. the measures would target guards from the european un
those are some of the world s largest economies. deutsche bank research crunch to the data. nvidia has enjoyed a meteoric rise, adding a full $1 trillion in market cap injust about a month this spring. the firm has been capitalising on the fever around artificial intelligence. the chips made by the company are used to power the company are used to power the ai applications that are in use and in development now and companies are betting they ll be instrumental in the future. shares of nvidia are up around 170% this year. over 70 million people in the us are under heat alerts this week, with extreme temperatures as high as 41 celsius forecast in some areas. scientists say many extreme weather events are becoming more frequent and intense as a result of climate change and it s coming at a cost not just to human lives, but also to businesses. i have been speaking with professor illan noy, who suggests that climate change could be costing the world around $16 million per hour
shareholders are in favour. welcome to business today. i m sally bundock. we start in the us where the cost of borrowing will be staying higher for a while longer. the us federal reserve left its key interest rate unchanged on wednesday at its highest in more than two decades and signalled it only expects to make one cut this year. the fed though is predicting four more cuts in 2025. the decision came just hours after some encouraging news on its battle to control inflation. america s official consumer price index showed prices rising at an annual rate of 3.3% in may. that was down 0.1% on april s rate and was lower than expected. but it s still way above the fed s inflation target of 2%. erin delmore in new york has all the details. economic datasets can feel abundant, these are two big deal events. we ve only seen them happen on the same day seven times in the last decade. to start, the consumer price index. that s the key inflation gauge that held good news wednesday morni