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Sunil Mittal, founder of India's second-largest telco Airtel, says Airtel-backed OneWeb can build a satellite-internet network independent of the US and China (Aryan Gupta/Bloomberg)

5 days 6 hours ago

Aryan Gupta / Bloomberg:
Sunil Mittal, founder of India's second-largest telco Airtel, says Airtel-backed OneWeb can build a satellite-internet network independent of the US and China  —  Indian billionaire Sunil Bharti Mittal is betting he can build a global satellite-internet network independent of both the US and China …

UBS Cuts London Jobs, European Stocks Hit Fresh Record

5 days 6 hours ago
UBS has slashed about two hundred positions in London in recent weeks as the integration of Credit Suisse nears its end. The cuts were announced internally in recent weeks, according to people familiar with the matter. The reductions were carried out across the bank’s units, including wealth management and investment banking, they said. European stocks surpassed their prior closing record high as the region extended an outperformance driven by a rotation out of the artificial intelligence trade and a strong earnings season. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)

Big Tech’s big AI buildout will not end until someone stops it

5 days 6 hours ago
After four of the biggest competitors in the AI race held quarterly earnings calls late last month, two things are clear: Big Tech is not done spending record amounts on the AI data center buildout, and the AI data center buildout is not any closer to yielding its promised returns. A third thing is also […]