
Palantir partners to develop AI software for nuclear construction
Synopsis
Palantir and Nuclear Company will jointly create the nuclear operating system (NOS), which will simplify construction, allowing the firm to build plants faster and at lower cost. The deal follows U.S. President Donald Trump's executive orders that aimed to boost U.S. nuclear energy production amid a boom in demand from data centers and AI.

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New Indian Express
37 minutes ago
- New Indian Express
'Embracing AI': Dutch car navigation firm cuts 300 jobs
The Hague: Dutch car navigation firm TomTom said on Monday that it was slashing 300 jobs, roughly 10 percent of its workforce, as it seeks to stem financial losses and "embraces artificial intelligence". The Amsterdam-based company was an early pioneer of digital navigation in cars, but has been struggling as people no longer use a separate device to move around. TomTom announced in a statement that it was "realigning its organisation... as it embraces artificial intelligence", resulting in "organisational changes". These changes would affect "certain roles in the units working on our application layer, and in our sales and support functions, resulting in a reduction of 300 roles," the firm said. The company employs around 3,600 people worldwide. TomTom forecasts a drop in sales from 574 million euros ($674 million) in 2024 to 505-565 million this year. Chief executive Harold Goddijn told investors in April that trade tensions resulting from US President Donald Trump's tariffs made the short-term outlook for the firm "less predictable". However, he said that he remained "confident in our long-term trajectory".
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Business Standard
an hour ago
- Business Standard
Rupee ends flat in H1 2025; snaps two-day gains to close at 85.76/$
Indian Rupee snapped two days of gains on Monday, even as the dollar index and crude oil prices were trading in the red. The domestic currency closed 28 paise lower at 85.76 against the dollar, according to Bloomberg. The depreciation comes after the currency logged its best week since January 2023, driven mainly by a plunge in crude oil prices amid Iran-Israel conflicts. The unit has depreciated by around 0.21 per cent in June and has fallen by 0.18 per cent in the first six months of the calendar year. Some outflows may occur during the day due to JSW Paints' acquisition of Akzo Nobel India and HDB Financial's IPO allotment, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Meanwhile, the dollar index traded lower as trade deals are back in focus with the July 9 deadline approaching for the US reciprocal tariffs to kick in. The US dollar index, which measures the greenback against a basket of six major currencies, was down 0.18 per cent at 97.22. Last week, US President Donald Trump touted that a "very big" trade deal could be signed with India soon. India's negotiators have extended their stay in Washington to seal the deal before the deadline, according to a Bloomberg report. India's current account balance recorded a surplus of $13.5 billion (1.3 per cent of GDP) in the January-March quarter of 2024-25 as compared with $4.6 billion (0.5 per cent of GDP) in the year-ago period, RBI said on Friday. The current account was in deficit of $11.3 billion (1.1 per cent of GDP) in the December quarter of 2024-25. In commodities, oil prices extended their fall after posting their biggest weekly plunge in over two years before a likely Opec+ supply hike. Brent crude price was down 0.15 per cent at $67.67 per barrel, while WTI crude prices were higher by 0.29 per cent at 65.33, as of 3:40 PM IST.


Indian Express
an hour ago
- Indian Express
After Trump ‘terminates' trade talks, Canada scraps proposed levy: What was the Digital Services Tax, how it would hit US firms
Two days after US President Donald Trump said he was terminating all trade discussions with Canada, Ottawa on Sunday (June 29) said it was scrapping the contentious Digital Services Tax. Trump had called the tax 'a direct and blatant attack on our Country'. It was supposed to come into effect on Monday, June 30. After Canada's walk-back, its finance minister, François-Philippe Champagne, spoke to the US trade representative Jamieson Greer on Sunday, signalling that the trade deal talks might be back on track. What is Canada's Digital Services Tax, and why was it such a sticking issue with the US? What will its revocation mean for Prime Minister Mark Carney's government? We explain. The tax aimed to collect a levy of 3% of the revenue a digital services firm made from Canadian users, above $20 million in a calendar year. In one of its more controversial clauses, payments were to be retroactive, beginning 2022. While the law had been passed earlier, payments were due from today. Among those impacted would have been major Amercian technology firms, such as Google, Meta, Apple, Amazon, etc. 'The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians… While Canada was working with international partners, including the United States, on a multilateral agreement that would replace national digital services taxes, the DST was enacted to address the aforementioned taxation gap,' Canada's finance ministry said on June 29. If the law had been implemented, American companies would have had to pay roughly $2.7 billion to the Canadian government, a report in The New York Times said. Trump was vehemently opposed to the law. On Friday, he posted on Truth Social, 'We have just been informed that Canada, a very difficult Country to TRADE with… has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country… Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.' Getting a trade deal with the US is important for Canada, which, going by US Census Bureau data, exported $412.7 billion worth of goods to the US last year. At present, Trump has slapped 50% tariffs on steel and aluminum imports from Canada and 25% on auto imports, apart from the 10% base tariff he has put on most countries. Along with this, Canada and Mexico face tariffs of 25% apparently to curb fentanyl smuggling to the US. Canada, thus, agreed to scrap the tax to take trade talks forward. 'In our negotiations on a new economic and security relationship between Canada and the United States, Canada's new government will always be guided by the overall contribution of any possible agreement to the best interests of Canadian workers and businesses. Today's announcement will support a resumption of negotiations toward the July 21, 2025, timeline set out at this month's G7 Leaders' Summit in Kananaskis,' PM Carney said on Sunday. Given that Carney had come to power mainly on a platform of standing up to Trump, this fold-up could have been embarrasing for him. However, the tax wasn't too popular within Canada either, as it could have raised the cost of digital services like hailing rides and streaming movies. Robin Guy, a leader of the Canadian Chamber of Commerce, had said in July last year, 'The imposition of a retroactive discriminatory digital services tax by the federal government will not only make life more expensive for Canadian families, businesses and workers, but it will significantly harm our relationship with the United States. The government should reverse its unilateral decision that is out of step with our allies, and instead, work with our trading partners on an international solution that would better serve Canadians.' In fact, recently, many had believed that the tax's best purpose could be to use it as a bargaining chip in talks with the US.