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By Akash Sriram (Reuters) -Tesla teased an October 7 event, in which investors and analysts anticipate a more affordable model to sustain sales momentum, sending the shares of the Elon Musk-led electric automaker 4% higher on Monday. In a nine-second video posted on social media platform X on Sunday, Tesla showed a vehicle with its headlights illuminated in a dark setting, while hinting at an event set for Tuesday in a separate video that had "10/7" at the end. The teaser follows Tesla's record third-quarter deliveries, driven by a surge in EV purchases ahead of the expiration of the $7,500 U.S. EV tax credit on September 30. However, analysts expect Tesla's annual deliveries to fall for a second straight year to about 1.62 million vehicles, as expiring incentives and a demand slowdown linked to CEO Musk's polarizing politics weigh on sales. Tesla has previously delayed rolling out a lower-cost version of the Model Y in the U.S. It said in June it had made "first builds" of the vehicle, but would start selling it in the fourth quarter and ramp up output at a pace that would be slower than planned. The stripped-down version is designed to be roughly 20% cheaper to produce than the refreshed Model Y and could scale to about 250,000 units a year in the U.S. by 2026. Wall Street expects Tesla's deliveries to jump next year to 1.85 million vehicles, with the cheaper model accounting for 155,610 units in 2026, according to Visible Alpha estimates. "Tesla is teasing something big as a flurry of X posts has fans bracing for what looks like the launch of a more affordable Model Y tomorrow," said Matt Britzman, senior equity analyst, Hargreaves Lansdown, who personally owns Tesla shares. "The price tag will be the real tell, offering clues on how far Tesla has pushed cost savings and how much new demand it can unlock." The company has not introduced a new mass-market vehicle in years, relying heavily on incremental updates to the Model 3 and Model Y to drive sales. Sales of its last major launch, the Cybertruck, have struggled, with Tesla offering thousands of dollars in discounts for vehicles in inventory in the past few months.  A U.S. recall filing in March showed 46,096 Cybertrucks had been built between its introduction in November 2023 and early this year. (Reporting by Mrinmay Dey and Akash Sriram in Bengaluru; Editing by Jamie Freed, Mrigank Dhaniwala and Arun Koyyur)

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NEW YORK (Reuters) -Bitcoin hovered near its record high on Monday as the world's largest cryptocurrency by market value continued to benefit from strong demand from investors. The rally in bitcoin since the start of the year has been underpinned by flows from institutional investors, friendlier policies of the administration of U.S. President Donald Trump, and an increasing connection with global financial systems. Bitcoin climbed above $125,000 for the first time on Sunday, rising to $125,653.32. It was last up 1.88% to $125,081.85, on course for the second straight session of gains. It has gained more than 33% this year. "Bitcoin is the hurdle rate. If you can't beat it, you have to buy it. And I think the next 12 weeks are going to be very fun for bitcoin holders," wrote Anthony Pompliano, founder and CEO of Professional Capital Management, in a letter to investors on Monday. Bitcoin's ascent has coincided with the weakness of the U.S. dollar against major peers as some investors sought to diversify away from U.S. assets in the wake of uncertainty in trade tensions from Trump's tariffs. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was flat at 98.12. It is down nearly 10% this year. [FRX/] "Bitcoin has surged ever since it briefly broke below $110,000 just over a week ago. The current rally means that Bitcoin has added around 13% since 28th September," wrote David Morrison, senior market analyst at FCA-regulated fintech and financial services provider Trade Nation, in emailed comments. "Its daily MACD (Moving Average Convergence Divergence) has turned up sharply, and while this indicates a rise in upside momentum, it may be that bitcoin will need to consolidate before it has a chance to push up further."  (Reporting by Chibuike Oguh and Gertrude Chavez in New York; Editing by Chizu Nomiyama and Chris Reese)

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By Mike Scarcella WASHINGTON (Reuters) -The U.S. Supreme Court declined on Monday to hear a bid by Europe's largest software maker SAP to avoid a lawsuit by U.S. data technology company Teradata that accused it of violating American antitrust law. The justices turned away SAP's appeal of a lower court's decision that let Teradata pursue claims that its larger German rival violated U.S. antitrust law by tying sales of business-planning applications to the purchase of a key SAP database that can perform transactional and analytical functions. San Diego-based Teradata makes a rival analytics database. Teradata filed its lawsuit against SAP in federal court in California in 2018. SAP has denied any wrongdoing. A judge has scheduled an April 2026 trial on Teradata's claims, as well as on a counterclaim that SAP lodged against Teradata accusing it of patent infringement. "We are disappointed the Supreme Court has declined to review these important legal issues. We remain confident in our position, reject Teradata's claims and look forward to resolving the matter in the trial court," SAP said in a statement. Teradata declined to comment. SAP sells "enterprise resource planning" software to companies that lets them manage data used in daily activities such as finance and supply-chain operations. Teradata makes a database that can provide analytics on such a substantial amount of data. The company said SAP customers relied on other tech companies like Teradata to handle the data that SAP's applications produced. The lawsuit accused SAP of illegally tying sales of its business operations software to a new product that was developed to compete with Teradata's database.  Two key legal standards guide how judges resolve whether conduct restrains competition: the "per se rule," under which alleged conduct is presumed illegal; and the "rule of reason," under which judges balance between anticompetitive effects and a defendant's procompetitive justification. SAP won in the district court, but the San Francisco-based 9th U.S. Circuit Court of Appeals revived Teradata's case in 2024. The 9th Circuit said there was a material dispute between the companies that a jury could take up and decide. The 9th Circuit, using a version of the "per se rule," applied too stringent a standard in evaluating Teradata's claims, SAP told the Supreme Court in a filing. SAP said the 9th Circuit's ruling clashed with how another federal appeals court in Washington in 2001 resolved a landmark antitrust case against Microsoft. In its filing at the Supreme Court, SAP said its two products were integrated, and that such integration benefits consumers and allows companies to compete effectively. Teradata urged the justices to reject SAP's appeal. It disputed that SAP's two products were integrated and also denied there was any divide among the federal appeals courts about which rules judges should use to evaluate antitrust lawsuits. Meta Platforms and Microsoft jointly submitted a friend-of-the-court brief backing SAP at the Supreme Court. (Reporting by Mike Scarcella; Editing by Will Dunham)

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By Arriana McLymore and Neil J Kanatt (Reuters) -U.S. holiday online sales are expected to grow at a slower pace this year, according to projections by data firm Adobe Analytics released on Monday, as macroeconomic uncertainty continues to pressure consumer spending. Adobe expects U.S. online sales to rise 5.3% to $253.4 billion between November 1 and December 31, this year, compared with an 8.7% rise last year. Cyber Monday, a major online shopping event that takes place on the Monday after Thanksgiving, is expected to be the biggest online shopping day of the season and year, with sales rising 6.3% to $14.2 billion on the day, Adobe said. The holiday shopping period, a key driver of sales for retailers at the end of the year, will be even more critical this year as shifting trade policies under the Trump administration and persistent inflation take a toll on consumer spending. "You have consumers dealing with a lot in the broader economy," said Vivek Pandya, director at Adobe Digital Insights. "We anticipate them taking advantage of these major sales moments, and we still see them leaning on the online sector as an area to get better deals." Adobe Analytics expects shoppers to kick off some of their early holiday purchases during Amazon's October Big Deal Days, October 7 through October 8, and competing sales events. It forecasts $9 billion in spending between the two days, a 6.2% increase compared with last year. Retailers have issued mixed outlooks ahead of the holiday season. Target and Best Buy maintained their annual forecasts, while Walmart and Macy's raised theirs. Toymaker Mattel, however, reduced its expectations. Adobe's forecast, which relies on direct online transactions based on more than 1 trillion visits to U.S. retail websites, echoes similar expectations of a subdued holiday season, with shoppers prioritizing essentials, hunting for deeper discounts, and cutting back on discretionary purchases. The forecast sees shopping on mobile devices driving 56.1% of total online spending compared with desktop shopping, and a $2 billion increase in "buy now pay later" spending. Buy now, pay later services let shoppers expand their purchasing power by paying for merchandise in monthly installments spread out over as many as 36 months; however, the most common payments are four-installment plans. Adobe said discounts would likely reach up to 28%, similar to last year, as shoppers not just look for the lowest price, but trade up to higher-value items in categories, including sporting goods and electronics, as they seek more value out of their dollar. (Reporting by Arriana McLymore in New York City and Neil J Kanatt in Bengaluru; Editing by Jacqueline Wong)

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London (dpa) – Artificial intelligence (AI) not only "hallucinates" false information, but also triggers something similar among vulnerable users, say health experts from leading universities researching the emerging phenomenon of "AI psychosis". Several recently published studies have found that AI can alter perceptions of reality as part of a "feedback loop" between chatbots and mental illness, reinforcing any delusional beliefs the patient may have. "While some users report psychological benefits, concerning edge cases are emerging, including reports of suicide, violence and delusional thinking linked to perceived emotional relationships with chatbots," a University of Oxford and University College London team said in a pre-print paper. "The rapid adoption of chatbots as personalised social companions" is not being scrutinized enough, the team warned. Another paper, by researchers at King’s College London and City University of New York, pointed to 17 cases of psychosis diagnosis following engagement with bots such as ChatGPT and Copilot. "AI may mirror, validate or amplify delusional or grandiose content, particularly in users already vulnerable to psychosis, due in part to the models’ design to maximise engagement and affirmation," the second team said. According to Nature, another science journal, psychosis can include "hallucinations, delusions and false beliefs" and "can be triggered by brain disorders such as schizophrenia and bipolar disorder, severe stress and drug use." Other recently published research showed that chatbots appear to encourage people who gave it indications of contemplating suicide. AI has become notorious for "hallucinations" – generating inaccurate or exaggerated responses to queries and prompts, with still more recent research suggesting this trait cannot be eradicated from the chatbots. The following information is not intended for publication dpa spr coh

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NEW YORK (Reuters) -Bitcoin hovered near its record high on Monday as the world's largest cryptocurrency by market value continued to benefit from strong demand from investors. The rally in bitcoin since the start of the year has been underpinned by flows from institutional investors, friendlier policies of the administration of U.S. President Donald Trump, and an increasing connection with global financial systems. Bitcoin climbed above $125,000 for the first time on Sunday, rising to $125,653.32. It was last up 1.88% to $125,081.85, on course for the second straight session of gains. It has gained more than 33% this year. "Bitcoin is the hurdle rate. If you can't beat it, you have to buy it. And I think the next 12 weeks are going to be very fun for bitcoin holders," wrote Anthony Pompliano, founder and CEO of Professional Capital Management, in a letter to investors on Monday. Bitcoin's ascent has coincided with the weakness of the U.S. dollar against major peers as some investors sought to diversify away from U.S. assets in the wake of uncertainty in trade tensions from Trump's tariffs. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was flat at 98.12. It is down nearly 10% this year. [FRX/] "Bitcoin has surged ever since it briefly broke below $110,000 just over a week ago. The current rally means that Bitcoin has added around 13% since 28th September," wrote David Morrison, senior market analyst at FCA-regulated fintech and financial services provider Trade Nation, in emailed comments. "Its daily MACD (Moving Average Convergence Divergence) has turned up sharply, and while this indicates a rise in upside momentum, it may be that bitcoin will need to consolidate before it has a chance to push up further."  (Reporting by Chibuike Oguh and Gertrude Chavez in New York; Editing by Chizu Nomiyama and Chris Reese)

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By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) -Indian IT services company LTIMindtree announced on Monday that it had won its largest-ever deal, with two sources aware of the matter pegging the size at $580 million. The sixth largest software services exporter in India said the deal was with a leading global media and entertainment company, but did not disclose the name of the client. The company did not immediately respond to a request for comment on the size of the deal or the name of the client. The deal comes at a time when India's $283-billion IT sector is facing macroeconomic uncertainties, tariff-related risks and changes in U.S. immigration policy. India's IT companies will report their numbers for the September quarter starting Thursday, and analysts expect muted results. LTIMindtree had also announced its now second-largest deal of $450 million in May, which sources said was with U.S. agribusiness giant Archer-Daniels-Midland. The company's shares closed 3% higher on Monday, marking their biggest daily jump in nearly five months. LTIMindtree said it will play a role in the client's efforts "to streamline operations and modernise delivery models, incorporating automation, process optimisation, and vendor consolidation". HFS Research CEO Phil Fersht said mid-cap companies such as LTIMindtree, Coforge and Mphasis are showing momentum in large deal wins as "they're faster and more flexible in shaping AI-led value propositions". "While the large caps are still optimising legacy portfolios, these mid-caps are winning new logos and expanding into outcome-based, AI-powered deals," he added. (Reporting by Sai Ishwarbharath B and Haripriya Suresh; Editing by Vijay Kishore)

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By Mike Scarcella WASHINGTON (Reuters) -The U.S. Supreme Court declined on Monday to hear a bid by Europe's largest software maker SAP to avoid a lawsuit by U.S. data technology company Teradata that accused it of violating American antitrust law. The justices turned away SAP's appeal of a lower court's decision that let Teradata pursue claims that its larger German rival violated U.S. antitrust law by tying sales of business-planning applications to the purchase of a key SAP database that can perform transactional and analytical functions. San Diego-based Teradata makes a rival analytics database. Teradata filed its lawsuit against SAP in federal court in California in 2018. SAP has denied any wrongdoing. A judge has scheduled an April 2026 trial on Teradata's claims, as well as on a counterclaim that SAP lodged against Teradata accusing it of patent infringement. "We are disappointed the Supreme Court has declined to review these important legal issues. We remain confident in our position, reject Teradata's claims and look forward to resolving the matter in the trial court," SAP said in a statement. Teradata did not immediately respond to a request for comment. SAP sells "enterprise resource planning" software to companies that lets them manage data used in daily activities such as finance and supply-chain operations. Teradata makes a database that can provide analytics on such a substantial amount of data. The company said SAP customers relied on other tech companies like Teradata to handle the data that SAP's applications produced. The lawsuit accused SAP of illegally tying sales of its business operations software to a new product that was developed to compete with Teradata's database.  Two key legal standards guide how judges resolve whether conduct restrains competition: the "per se rule," under which alleged conduct is presumed illegal; and the "rule of reason," under which judges balance between anticompetitive effects and a defendant's procompetitive justification. SAP won in the district court, but the San Francisco-based 9th U.S. Circuit Court of Appeals revived Teradata's case in 2024. The 9th Circuit said there was a material dispute between the companies that a jury could take up and decide. The 9th Circuit, using a version of the "per se rule," applied too stringent a standard in evaluating Teradata's claims, SAP told the Supreme Court in a filing. SAP said the 9th Circuit's ruling clashed with how another federal appeals court in Washington in 2001 resolved a landmark antitrust case against Microsoft. In its filing at the Supreme Court, SAP said its two products were integrated, and that such integration benefits consumers and allows companies to compete effectively. Teradata urged the justices to reject SAP's appeal. It disputed that SAP's two products were integrated and also denied there was any divide among the federal appeals courts about which rules judges should use to evaluate antitrust lawsuits. Meta Platforms and Microsoft jointly submitted a friend-of-the-court brief backing SAP at the Supreme Court. (Reporting by Mike Scarcella; Editing by Will Dunham)

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By Mike Scarcella WASHINGTON (Reuters) -The U.S. Supreme Court declined on Monday to hear a bid by Europe's largest software maker SAP to avoid a lawsuit by U.S. data technology company Teradata that accused it of violating American antitrust law. The justices turned away SAP's appeal of a lower court's decision that let Teradata pursue claims that its larger German rival violated U.S. antitrust law by tying sales of business-planning applications to the purchase of a key SAP database that can perform transactional and analytical functions. San Diego-based Teradata makes a rival analytics database. Teradata filed its lawsuit against SAP in federal court in California in 2018. SAP has denied any wrongdoing. A judge has scheduled an April 2026 trial on Teradata's claims, as well as on a counterclaim that SAP lodged against Teradata accusing it of patent infringement. SAP sells "enterprise resource planning" software to companies that lets them manage data used in daily activities such as finance and supply-chain operations. Teradata makes a database that can provide analytics on such a substantial amount of data. The company said SAP customers relied on other tech companies like Teradata to handle the data that SAP's applications produced. The lawsuit accused SAP of illegally tying sales of its business operations software with a new product that was developed to compete with Teradata's database. Two key legal standards guide how judges resolve whether conduct restrains competition: the "per se rule," under which alleged conduct is presumed illegal; and the "rule of reason," under which judges balance between anticompetitive effects and a defendant's procompetitive justification. SAP won in the district court, but the San Francisco-based 9th U.S. Circuit Court of Appeals revived Teradata's case in 2024. The 9th Circuit said there was a material dispute between the companies that a jury could take up and decide. The 9th Circuit, using a version of the "per se rule," applied too stringent a standard in evaluating Teradata's claims, SAP told the Supreme Court in a filing. SAP said the 9th Circuit's ruling clashed with how another federal appeals court in Washington in 2001 resolved a landmark antitrust case against Microsoft. In its filing at the Supreme Court, SAP said its two products were integrated, and that such integration benefits consumers and allows companies to compete effectively. Teradata urged the justices to reject SAP's appeal. It disputed that SAP's two products were integrated and also denied there was any divide among the federal appeals courts about which rules judges should use to evaluate antitrust lawsuits. Meta Platforms and Microsoft jointly submitted a friend-of-the-court brief backing SAP at the Supreme Court. (Reporting by Mike Scarcella; Editing by Will Dunham)

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(Reuters) -Algen Biotechnologies said on Monday it had agreed to grant AstraZeneca a license to develop therapies the U.S.-based biotech discover using its AI-driven gene-editing platform, in a deal worth up to $555 million. AstraZeneca will get exclusive rights to develop and sell approved therapies, if any, that target immune system-related disorders in exchange for upfront and milestone payments to Algen. AstraZeneca has been advancing its cell and gene therapy capabilities through acquisitions and partnerships as it works towards its target of $80 billion in sales by 2030. Globally too, drugmakers are increasingly turning to artificial intelligence for drug development. The Anglo-Swedish drugmaker's respiratory and immunology portfolio generated $4.23 billion in sales, or around 15% of its total revenue, in the first half of 2025. AstraZeneca in March agreed to buy Belgian biotech EsoBiotec for up to $1 billion, gaining access to technology that modifies immune cells directly inside the body. Monday's deal, however, does not include AstraZeneca buying a stake in the company, Algen CEO and co-founder Chun-Hao Huang told Reuters in an interview. "Together with AstraZeneca's deep expertise in translational science and clinical development, we aim to uncover new biological insights to accelerate the development of novel therapies," Huang said. The company, backed by investors including Viking Global and Illumina, has raised $11 million in funding previously and is "well capitalized", Huang said, adding that the firm would consider scaling its programs at the next fundraise, without giving details. Algen was spun out from the UC Berkeley lab where biochemist Jennifer Doudna pioneered the CRISPR technology that won her the Nobel Prize. The biotech firm's AI platform, AlgenBrain, can map genes to disease outcomes, helping the companies decide their development focus for targeted therapies. The Financial Times had first reported the news. (Reporting by Raechel Thankam Job and Pushkala Aripaka in Bengaluru; Editing by Leroy Leo and Maju Samuel)

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