- Grok Imagine now dominates video creation, outpacing rivals’ single-image speeds: Musk samaa tv
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Category: 3. Business
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Grok Imagine now dominates video creation, outpacing rivals' single-image speeds: Musk – samaa tv
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Report: Kering in Talks with Qatar to Offload Milan Property
Kering is holding advanced talks with Qatar’s royal family to sell a Milan luxury property, Italian newspaper Il Corriere della Sera said.
Kering may sell a majority stake in the company that owns the building it bought in 2024 for €1.3 billion ($1.5 billion), the newspaper reported, without saying where it obtained the information.
Kering declined to comment on the report. Qatar Investment Authority wasn’t able to comment immediately. In April, it had been reported to be interested though the sovereign wealth fund denied the reports at the time.
The French luxury company is working to sell properties in New York, Milan and Paris, it said in July as it announced a 15 percent sales plunge in the second quarter.
Kering is beginning a new era with the scheduled arrival in mid-September of Chief Executive Officer Luca de Meo, who previously held the same role at automaker Renault. Francois-Henri Pinault, son of Kering’s billionaire founder Francois Pinault, will stay on as chairman after handing over the CEO reins when de Meo arrives.
By Tara Patel and Tommaso Ebhardt
Learn more:
Why Kering Picked a Fashion Outsider to Be Its Next CEO
The Gucci and Saint Laurent owner is splitting its chairman and CEO roles, bringing in Luca de Meo, a turnaround expert who has revived multiple automotive brands, to support the Pinault family.
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Baker Hughes Says 230 Drilling Rigs Are Working in Saudi Arabia
There are more than 230 drilling rigs across Saudi Arabia, Baker Hughes said.
“Baker Hughes has established that as of today, more than 230 rigs are working across operations in Saudi Arabia,” the Houston-based company said in a statement on its website Sunday. “The operations related to drilling rigs, including production testing, non-rotational rigs, completions or workovers rigs, rigs under mobilization, have not historically been reflected in worldwide rig counts,” Baker Hughes added.
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SAP is acquiring SmartRecruiters | TechCrunch
SAP announced Friday that it has reached an agreement to acquire recruiting software company SmartRecruiters.
In a press release, the European software giant said that SmartRecruiters “powerful, user-friendly interfaces and seamless workflows” will complement SAP’s existing HR tools.
Muhammad Alam, the SAP executive board member who leads product and engineering, said in a statement that with this acquisition, “Customers will be able to manage the entire candidate lifecycle — from sourcing and interviewing to onboarding and beyond — all in a single system to streamline the experience for recruiters, hiring managers and, in particular, candidates.”
The terms of the acquisition were not disclosed. The deal is expected to close in the fourth quarter of this year.
SmartRecruiters’ last announced round of funding was a $110 million Series E in 2021, which valued the company at $1.5 billion.
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See latest inflation, jobs numbers and more
We learned a lot about the U.S. economy during the past week, but what we learned may leave us asking more questions. Consider a few of the most telling numbers:
The encouraging news
◾ GDP grew 3%: The economy rebounded in Q2 after a -0.5% drop in Q1. The first quarter decline was driven by companies rushing to import goods ahead of new tariffs from President Donald Trump. Imports are subtracted from U.S. growth.
◾ Consumers are happier: Both consumer confidence and sentiment continued to climb in July, recovering from their April lows. Consumer spending is the largest part of the U.S. economy.
The less encouraging news
◾ Inflation is rising: The Fed’s preferred inflation gauge — the personal consumption expenditures (PCE) index — rose 0.3% from May. Economists say the increase may be one of the early signs that tariffs are starting to push up prices.
◾ Job revisions surprise: July’s job gains came in at 73,000 — well below the expected 102,000. More concerning, however, were downward revisions to April and May’s numbers, suggesting the labor market may be weaker than previously thought.
Unable to view our graphics? Click here to view them.
One thing that didn’t change this week: The Federal Reserve’s stance on interest rates. Chair Jerome Powell and the policymaking committee kept the short-term rate range steady at 4.25% to 4.5%. But, that range may not hold for long.
“The weak July jobs report increases pressure on the Fed to cut rates later this year,” said Bill Adams, Comerica Bank chief economist. “The decision isn’t a slam dunk, since labor supply also fell in July” because the number of foreign-born workers declined.
Interest rate traders appear more confident that a rate cut is coming. Their latest bets suggest a 90% chance the Fed will lower rates in September — a sharp jump from the 45% percent chance shortly after the Fed’s meeting on Wednesday.
Bernard Yaros, Oxford Economics’ lead U.S. economist, doesn’t think Fed’s first cut of the year will come until the December meeting. He said in a note Saturday, “Joblessness ticked higher, but … there’s little reason to expect a sharp increase in the unemployment rate over the next months.”
Will the Fed cut interest rates?
How is the U.S. economy doing?
What is the U.S. unemployment rate?
U.S. unemployment rate rose to 4.2% in July. The monthly number represents the percentage of people who are unemployed and looking for work.
What the data shows: The unemployment rate has been relatively steady for the past year, hovering around the 10-year monthly median rate of 4.1%. Economists such as Nancy Vanden Houten at Oxford Economics have speculated that corporate decision makers have been stymied by the uncertainty surrounding tariffs: “The June (Job Openings and Labor Turnover Survey) painted a familiar picture of the labor market: Hiring remains quite low, but so do layoffs.”
Hiring had held stead throughout the year – although it was well below the 10-year median rate of 226,000 jobs per month. Analysts expected Friday’s jobs report would show the economy added about 100,002 jobs in July. Stock prices and bond yields fell following the disappointing report.
How big is the U.S. economy?
The U.S. economy produced about $30 trillion of goods on an inflation-adjusted annualized basis in the first quarter, but real GDP, the value of goods adjusted for inflation, fell 0.5% in the quarter because imported goods – which subtract from GDP – jumped more than 50%.
What the data shows: The Bureau of Labor Statisics report Wednesday morning showed the economy grew 3% in the second quarter – significantly higher than the 2.3% increase analysts expected. Much of the “growth” came from reduced spending on imports.
How high is inflation?
Inflation, a sustained increase in prices throughout the economy, touched its 10-year median of 2.3% in April – the first time since pandemic spending set off 40-year high inflation. The Fed policymakers say they prefer inflation at 2%, or “low and stable,” so we can “make sound decisions regarding saving, borrowing, and investment.”
What the data shows: Inflation has fallen significantly but remains above the 2% that the Fed targets. The annual inflation rate as measured by the consumer price index rose to 2.7% in June from 2.4% in May. The July CPI report will be released Aug. 12.
Are consumers still making purchases?
U.S. consumers account for $7 of every $10 spent in the U.S. economy. Retail sales’ median monthly increase has been about 0.4% for the past 10 years. That doesn’t sound like much until you consider a 0.6% increase in June amounted to an extra $4.6 billion of spending.
What the data shows: As the primary engine of the U.S. economy, we bought $720 billion worth of stuff on a seasonally adjusted basis in June. That was a big swing from the -0.9% decline in May. We’ll find out Aug. 15 if we continued to spend in July.
Gas prices are holding steady
Our gasoline purchases aren’t a large part of most of our budgets, but it’s hard to miss the big numbers outside every station and not have some emotional reaction to their swings. That can have a psychological impact on our spending. One report showed a recent improvement in consumer sentiment closely correlated with lower gas prices.
What the data shows: We’re in the midst of the summer driving season where gasoline prices typically peak, but a gallon of regular gas has held steady throughout the summer and several cents below last year’s prices.
So how confident are U.S. consumers now?
The University of Michigan measures U.S. consumer sentiment on a monthly basis. The index been as high as 101 ahead of the pandemic in February 2020 and as low as 50 when inflation peaked at 9.1% in June 2022.
What the data shows: Consumer sentiment has been rising haltingly since bottomed out in May.
Current mortgage rates still elevated
While the Fed’s interest-rate decisions don’t directly affect mortgage rates, they do ripple through the economy and have made the math more difficult for homebuyers.
What the data shows: Since November, mortgage rates have moved in a relatively narrow range – between 6.6% and 7% – and well above the 10-year median, according to Freddie Mac’s weekly mortgage rate survey. Rates are down significantly from the November 2023 peak of 7.8%.
Higher mortgage rates weigh on home sales
Existing home sales are the lion’s share of homes sold each month. The NAR reports each month’s sales at a seasonally adjusted annual rate. Annual home sales peaked in 2005 at 7.08 million units. In September 2024, that number fell to 3.9 million units – lower than sales during any year following the financial crisis.
What the data shows: Not surprisingly as mortgage rates have risen, existing home sales have tumbled. At the same time, average home prices are also rising because fewer homes are on the market. Speculation has been that homeowners are unwilling to sell and give up their low-rate mortgages.
So how are investors looking at this information?
The nation’s stock markets are not the economy, but their movements reflect the combined bets investors are making on the economy. Investors have a keen eye on data points like in the charts above. Significant swings in our spending, or even our thinking, might potentially impact corporate profits in coming quarters.
What the data shows: After a dip in early April because of tariff-related uncertainty, the S&P 500 has steadily climbed, reaching several new highs since June. The upward trend could suggest that investors are increasingly confident the final tariff agreements won’t weigh on the economy as heavily as once feared, but following the employment report Friday all three major U.S. index fell more than 1%. The tech-heavy Nasdaq Composite fell 2.2%.
Contributing: Bailey Schulz
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Experts urge rethink on renewable energy and its environmental impact – Euronews.com
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AI Twins Could Help Save the Planet, But Only If We Fix Them First – SciTechDaily
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Apple CEO: AI Is 'As Big or Bigger' Than the Internet, Smartphones – PCMag
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Phase 3 Study Results of Obicetrapib on Alzheimer Disease Biomarker Progression: Philip Scheltens, MD, PhD
WATCH TIME: 3 minutes
“We had a very significant influence of obicetrapib on the p-tau217 evolution over time. In the placebo group, it increased and in the obicetrapib group, it decreased. So, a very significant result that shows us that obicetrapib is able to influence AD biomarkers, and that may offer a potential for prevention in the future.”
Researchers assessed the investigational cholesteryl ester transfer protein (CETP) inhibitor obicetrapib (NewAmsterdam Pharma) in the phase 3 BROADWAY study (NCT05142722) in atherosclerosis cardiovascular disease. BROADWAY is a phase 3, double-blind, placebo-controlled trial that randomized participants (n = 1,727; mean age, 65 years; women, 33%) 2:1 to receive 10-mg daily versus placebo over 12 months. Results from trial revealed that obicetrapib significantly slowed the progression of Alzheimer disease (AD) biomarkers over 1 year, with most pronounced effects observed in older carriers of the APOE4 allele.1
In the study, obicetrapib significantly lowered low-density lipoprotein by 33% and increased high-density lipoprotein by 125% in comparison with placebo. Notably, obicetrapib displayed significant attenuation of increase in the median plasma p-tau217 (obicetrapib, 1.1%; placebo, 4.8%; P = .01) and p-tau217/Aβ42:Aβ40 ratio (obicetrapib, 2.7%; placebo, 6.5%; P = .006). At baseline, p-tau217 levels were higher in ApoE4 carriers (n = 367) compared with noncarriers (0.47 pg/ml vs 0.39 pg/ml; P <0.0001). ApoE4 carriers also demonstrated greater benefit compared with placebo, with obicetrapib stabilizing p-tau217 levels (0% increase vs. 5.7%; P = .03) and limiting increases in the p-tau217/Aβ42:Aβ40 ratio (2.1% vs. 10.2%; P = .005).
Primary investigator Philip Scheltens, MD, PhD, presented these findings at the recently concluded 2025 Alzheimer’s Association International Conference, held July 27-30, in Toronto, Canada. During the conference, Scheltens, Emeritus Professor of Cognitive Neurology at VU University Medical Center, had a brief discussion with NeurologyLive® on the recently presented results of the BROADWAY study. In the conversation, Scheltens, who also serves as the head of the EQT Life Sciences Dementia Fund, highlighted that these data may support the dual therapeutic potential of obicetrapib to treat both cardiovascular and neurodegenerative diseases.
Click here for more coverage of AAIC 2025.
REFERENCES
1. Davidson M, Szarek M, Nicholls S, et al. Effects of Obicetrapib, a Potent Oral CETP Inhibitor, on Alzheimer’s Disease Biomarkers in 1727 Patients with cardiovascular disease. Presented at: 2025 Alzheimer’s Association International Conference; July 27-31; Toronto, Canada. Abstract 108443.Continue Reading
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Switzerland could revise offer on Trump tariffs, business minister says
By John Revill
ZURICH (Reuters) -The Swiss government is open to revising its offer to the United States in response to planned heavy tariffs, Business Minister Guy Parmelin said, as experts warned the 39% import duties announced by President Donald Trump could trigger a recession in Switzerland.
Switzerland was left stunned on Friday after Trump hit the country with one of the highest tariffs in his global trade reset, with industry associations warning of tens of thousands of jobs being put at risk.
The country’s cabinet will hold a special meeting on Monday to discuss its next steps, with Parmelin telling broadcaster RTS that the government would move quickly before the U.S. tariffs are imposed on August 7.
“We need to fully understand what happened, why the U.S. president made this decision. Once we have that on the table, we can decide how to proceed,” Parmelin said.
“The timeline is tight, it may be hard to achieve something by the 7th, but we’ll do everything we can to show goodwill and revise our offer,” he added.
Parmelin said Trump was focused on the U.S. trade deficit with Switzerland, which stood at 38.5 billion Swiss francs ($48 billion) last year, with Switzerland buying U.S liquefied natural gas (LNG) among the options under consideration.
Another option could be further investments by Swiss companies in the United States, Switzerland’s biggest export market for its pharmaceuticals, watches and machinery.
“Look at the European Union, they promised to buy LNG. Switzerland imports LNG too — maybe that’s one path,” Parmelin said.
“Maybe more investments. But to be sure it’s a strong enough basis for continuing talks, we have to fully understand what the U.S. expects.”
Both Parmelin and Swiss President Karin Keller-Sutter were also ready to travel to Washington to pursue talks if necessary, he added.
Swiss officials rejected reports that the higher than expected tariffs were imposed after a bad-tempered telephone call between Keller-Sutter and Trump late on Thursday.
“The call was not a success, there was not a good outcome for Switzerland,” a government source told Reuters. “But there was not a quarrel. Trump made it clear from the very beginning that he had a completely different point of view, that 10% tariffs were not enough.
“We are working hard to find a solution and are in contact with the American side,” the source added. “We hope we can find a solution before August 7.”
Tariffs would have a huge impact on Switzerland’s export-orientated economy and raised the risk of a recession, said Hans Gersbach, an economist at ETH, a university in Zurich.
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