Today: September 22, 2024
Today: September 22, 2024

Finance

Business|Finance|Technology

AMD raises forecast for AI chip revenue and sees supplies remaining tight

By Max A.

AMD raises forecast for AI chip revenue and sees supplies remaining tight
Business|Economy|Finance

Mondelez International misses quarterly revenue estimates due to weaker demand

Cadbury parent Mondelez International missed expectations for second-quarter revenue on Tuesday, as budget-conscious customers opted for lower-priced alternatives

Mondelez International misses quarterly revenue estimates due to weaker demand
Business|Economy|Finance|Technology

Microsoft's slow cloud growth signals AI payoff will take longer

Microsoft said it would spend more money this fiscal year to build out AI infrastructure even as growth slowed in its cloud business, another sign

Microsoft's slow cloud growth signals AI payoff will take longer
Business|Finance|Stock Markets|Technology

Pinterest forecasts downbeat revenue as competition grows; shares slump

Pinterest forecast current-quarter revenue below Wall Street expectations on Tuesday as the image-sharing platform faces tough competition in a stabilizing digital advertising

Pinterest forecasts downbeat revenue as competition grows; shares slump
Business|Finance|Technology

Microsoft's cloud business powers 10% growth in quarterly profits

Microsoft reported a 10% increase in quarterly profits Tuesday as it tries to maintain its position as a leader in artificial intelligence technology

Microsoft's cloud business powers 10% growth in quarterly profits
Business|Economy|Finance

Bill Ackman won’t raise anything close to what he planned for his hedge fund IPO

Bill Ackman won’t raise anything close to what he planned for his hedge fund IPO

Bill Ackman won’t raise anything close to what he planned for his hedge fund IPO
Business|Finance|Technology

Wells Fargo appoints new head of technology

Well Fargo has hired former BNY executive Bridget Engle as its new head of technology, according to a release seen by Reuters.

Wells Fargo appoints new head of technology
Economy|Europe|Finance

Malta central bank head suspends himself amid hospitals scandal

Malta Central Bank Governor Edward Scicluna has suspended himself from his duties pending the conclusion of a court case over a 2015 hospitals privatisation deal, when he was

Malta central bank head suspends himself amid hospitals scandal
Business|Economy|Finance|Health

Wells Fargo sued over employee prescription drug costs

Wells Fargo & Co was accused in a lawsuit filed on Tuesday of mismanaging its employee health insurance plan and forcing tens of thousands of U.S. employees to overpay

Wells Fargo sued over employee prescription drug costs
Africa|Economy|Finance

World Bank approves $1.5 billion in financing for Ethiopia

The World Bank's board has approved $1.5 billion in financing for its first ever budget support lending to Ethiopia, the lender said late on Tuesday as the east African nation tries to push

World Bank approves $1.5 billion in financing for Ethiopia
Economy|Finance

UK finance minister: We will need to raise taxes in October budget

New British finance minister Rachel Reeves said on Tuesday she would need to raise taxes in her Oct. 30 budget, confirming expectations of such a move after she earlier this week

UK finance minister: We will need to raise taxes in October budget
Business|Economy|Finance

Ameriprise sues LPL Financial over alleged misappropriation of client data

Ameriprise Financial said on Tuesday it had filed a lawsuit in a U.S. district court against LPL Financial, alleging it harvests and misuses confidential client information in violation of

Ameriprise sues LPL Financial over alleged misappropriation of client data
Business|Finance

US bank regulator looks to tighten control of asset managers' bank stakes

A U.S. bank regulator is considering a stricter framework for how large asset managers like Blackrock and Vanguard can prove they are not influencing banks

US bank regulator looks to tighten control of asset managers' bank stakes
Economy|Finance|News

Yellen says Harris would keep Biden's vow against middle-class US tax hikes

U.S.

Yellen says Harris would keep Biden's vow against middle-class US tax hikes
Business|Economy|Finance

Stellantis offering new round of voluntary buyouts to US salaried workers

Jeep-maker Stellantis said on Tuesday it is offering a new round of voluntary buyouts to its U.S. salaried workers, the latest in a series of

Stellantis offering new round of voluntary buyouts to US salaried workers
Economy|Finance

BOJ mulling raising short-term rates to around 0.25%, media reports

The Bank of Japan is considering raising short-term interest rates to around 0.25% from the current 0-0.1% at its two-day policy meeting that ends on Wednesday, Jiji news agency

BOJ mulling raising short-term rates to around 0.25%, media reports
Economy|Finance

Japan's new currency diplomat keeps intervention on table to stabilise yen

Japan will retain its basic approach on the yen with intervention remaining an option to tackle excessively volatile moves in the exchange rate

Japan's new currency diplomat keeps intervention on table to stabilise yen
Business|Economy|Finance

JetBlue posts a surprise Q2 profit and will delay new planes to cut costs and rebuild the business

JetBlue Airways is reporting a small but surprising profit for the second quarter

JetBlue posts a surprise Q2 profit and will delay new planes to cut costs and rebuild the business
Business|Economy|Finance

Blackstone in bid to acquire shopping center owner Retail Opportunity, sources say

Private equity firm Blackstone is in early-stage talks to acquire Retail Opportunity Investments Corp (ROIC), which owns U.S. shopping centers and has a market value of close

Blackstone in bid to acquire shopping center owner Retail Opportunity, sources say
Business|Finance

JPMorgan promotes Porretti, Novak to co-head shareholder engagement as more activist campaigns loom

JPMorgan Chase on Tuesday tapped veteran bankers Alfredo Porretti and Darren Novak to co-head its global shareholder engagement and M&A capital markets

JPMorgan promotes Porretti, Novak to co-head shareholder engagement as more activist campaigns loom
Economy|Finance

US consumer confidence rises in July; inflation expectations steady

U.S. consumer confidence unexpectedly rose in July, but remained in the tight range of the past two years amid lingering worries about inflation and higher borrowing costs.

US consumer confidence rises in July; inflation expectations steady
Economy|Finance|Stock Markets

Drop in Magnificent Seven could drag down U.S. stocks, top fund manager says

U.S. stocks could drop by between 10% and 13% this year, dragged down by a selloff in seven mega-cap stocks that previously pushed broader markets to record highs,

Drop in Magnificent Seven could drag down U.S. stocks, top fund manager says
Economy|Finance|Technology

Trump’s remarks at Bitcoin event were delayed due to security concern, Secret Service says

Trump’s remarks at Bitcoin event were delayed due to security concern, Secret Service says

Trump’s remarks at Bitcoin event were delayed due to security concern, Secret Service says
Economy|Finance|News

US home prices unchanged in May; annual gain smallest in 10 months

U.S. single-family home prices were unchanged in May and the annual increase was the smallest in 10 months as higher mortgage rates stifled demand, boosting housing supply.

US home prices unchanged in May; annual gain smallest in 10 months
Business|Economy|Finance

American Tower raises annual forecast for key profit metric on strong leasing demand

Real estate investment trust American Tower raised its forecast for annual adjusted funds from operations (AFFO) and beat second-quarter revenue estimates on Tuesday, helped by strong

American Tower raises annual forecast for key profit metric on strong leasing demand

Follow