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5 Top Stories

Can Apple Win Over Doubters on AI?

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Can Apple Win Over Doubters on AI?

Apple’s [AAPL] flagship Worldwide Developers Conference started Monday. Expectations were that the Cupertino company would use the conference to showcase its pivot towards AI and demonstrate that it can adapt to the new technological era, Bloomberg reported. It is set to lay out a new AI suite called Apple Intelligence, which will be integrated across its product line going forward, as well as a chatbot partnership with OpenAI.

A New Era of AI

“We are on the cusp of the next era” of artificial intelligence (AI), Clare Barclay, CEO of Microsoft UK [MSFT], told London Tech Week on Monday morning. Barclay detailed three areas in which she believes AI will have a transformational impact on businesses: employee experience, customer engagement and reshaping business processes. On employee experience, Barclay observed that “the primary concern from employers right now is that they won’t have enough talent in critical jobs”.

Microsoft Showcases New Doom, Call of Duty

The annual Xbox Games Showcase started on Sunday, with Microsoft showcasing new, all-digital versions of its Xbox Series X and S consoles. It also teased more than a dozen games, among them the latest in its Doom, Call of Duty and Gears of War series. Several of these titles will be available on Xbox Game Pass on the day of launch, in an indication that Microsoft is betting on its subscription service, Reuters reported.

India’s Space Race

The country’s two biggest telecom firms are set to launch satellite internet services. In a joint venture with Anglo-French satellite communications group Eutelsat OneWeb [ETL:PA], Bharti Airtel [BHARTIARTL:NS] could begin providing services as soon as this month; meanwhile, Mukesh Ambani’s JioSpaceFiber could launch later this year, the Financial Times reported. Elsewhere in space, Germany is set to buy three satellites for its armed forces from OHB [OHB:DE], at a cost of €2.1bn, according to Bloomberg.

What’s New in EVs?

Reuters reported that the European Commission will this week reveal what tariffs it is imposing on Chinese electric vehicles (EVs). While Brussels’ tariffs will probably be lower than the 100% duty imposed by Washington last month, the move will likely earn the ire of Beijing. Majority-owned by China’s Geely [0175.HK], Volvo [VOLV-B:ST] has already started to shift production to Belgium. Lastly, Elon Musk has said on X that Tesla’s [TSLA] Model Y will not see a “refresh” this year.

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