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By Arsheeya Jajwa for Reuters Nvidia headquarters on May 21, 2024 in Santa Clara, California. Photo: AFP Nvidia's quarterly forecast on Wednesday failed to meet the lofty expectations of investors who have driven a dizzying rally in its stock as they bet billions on the future of generative artificial intelligence. Shares of the chipmaker fell 6 percent in after-hours trading, weighing on shares of chipmakers including Advanced Micro Devices and Broadcom, as well as other tech behemoths. The report has been seen as a day of reckoning for the tech sector and the results were treated as mixed, despite heady growth and profit. "Here's the issue," said Ryan Detrick, chief market strategist at the Carson Group. "The size of the beat this time was much smaller than we've been seeing." He a...

A Paris prosecutor said Pavel Durov had been placed under formal investigation after four days of custody. Photo: Public Domain By Gabriel Stargardter and Tassilo Hummel, Reuters A French judge put Telegram boss Pavel Durov under formal investigation in a probe into organized crime on the messaging app, but granted the entrepreneur bail on condition he pays 5 million euros, reports twice a week to police and does not leave French territory. Paris prosecutor Laure Beccuau said in a statement the judge found there were grounds to formally investigate Durov on all the charges for which he was initially arrested four days ago. They include suspected complicity in running an online platform that allows illicit transactions, images of child sex abuse, drug trafficking and fraud, as well as th...

Liam Newman, 25, died in a skydiving event in Queensland. Photo: Supplied / iFLY / Facebook A New Zealand sky diver has died in Australia after taking part in a sky diving event in Western Queensland. Australian media are reporting 25-year-old Liam Newman died after he over corrected his landing and hit the ground at speed. His workplace iFly Brisbane Indoor Skydiving took to social media confirming his death. The post said he was a much loved staff member of their team and their thoughts were with his family at this difficult time. Tributes have been pouring in on social media remembering Newman. Emergency crews were called to a rural area at Tarawera near Goondiwindi about 8am on Tuesday, the ABC has reported. The Australian Parachute Federation (APF), which is investigating the death...

File photo. A gas rig off Taranaki. Photo: Supplied Spending hundreds of millions on building an liquefied natural gas import terminal will not reduce New Zealand's emissions compared with burning coal, says an energy expert. Falling production from offshore gas fields, along with low hydro lake levels, have been blamed for burning more coal at the Huntly power station and increasing New Zealand's emissions. But Sustainable Energy Professor Ralph Sims of Massey University says by the time gas is extracted, cooled, stored and shipped in the form of liquefied natural gas (LNG), any climate benefits over burning coal will disappear. The government on Monday announced steps to address an energy crisis which has seen gas and electricity prices spike for many large commercial users and some c...

The British-flagged Bayesian capsized and sunk on 19 August killing seven people. Photo: VesselFinder Italian prosecutors are investigating two more crew members from British tech tycoon Mike Lynch's yacht, along with its captain, in connection with the vessel's sinking over a week ago, a judicial source said. Being investigated does not imply guilt and does not mean formal charges will follow. Lynch and six other people were killed when the British-flagged Bayesian, a 56-metre-long yacht, capsized and went down on 19 August within minutes of being hit by a pre-dawn storm while anchored off northern Sicily. On Monday, the boat's 51-year-old captain James Cutfield, a New Zealander, was put under investigation for manslaughter and shipwreck. Cutfield declined to respond to prosecutors dur...