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The Federal Reserve's primary inflation gauge rose less than expected in April, though the 12-month inflation rate still rose to the highest level since late 2023. The report may have slightly calmed Wall Street's nerves over inflation as oil prices rebound early Thursday.
(Bloomberg) -- An abundance of cash in US funding markets appears to be driven by deeper structural shifts that are unlocking billions of dollars in balance-sheet capacity at the biggest banks, Wall Street strategists say. Most Read from BloombergSingapore Hands Byju's Founder His First Ever Jail TermIran’s Khamenei Says No Going Back for Middle East Rocked by WarTwo More Oil Supertankers Exit Hormuz to Help Push Up FlowsEx-President Biden Sues to Stop DOJ Sharing Interview TapesSony Takes Final
Salesforce Stock Falls After Earnings. Benioff Says AI Push Is Just Getting Started
The federal Surface Transportation Board is seeking more information on the impact of combining Union Pacific and Norfolk Southern.
Federal prosecutors in the U.S. have charged an employee of Google parent company Alphabet (NASDAQ: $GOOGL) with fr...
The IPO market is back in full force. After two years of sluggish dealmaking, investors are once again chasing the next mega-listing, and the bigger the valuation, the bigger the excitement seems to get. That enthusiasm is helping to push stock indexes to record highs as valuations across tech and AI expand with a rise ... SpaceX Is Headed for a $1.75 Trillion IPO. History Says the Stock Could Be Down 32% a Year From Now
The department store chain reports lower sales and a drop in same-store sales for its fiscal first quarter.
Investing.com - U.S. stock futures pointed lower on Thursday, as a fresh exchange of strikes in Gulf dented hopes for a U.S.-Iran peace deal and investors geared up for key inflation data closely watched by the Federal Reserve.
The market's future may be volatile, but history has good news for investors.
Investing.com -- A blockchain protocol developed by Ant Group, the Chinese fintech giant behind Alipay and an affiliate of Alibaba Group, has powered the launch of the first institutional-grade onchain vault focused on emerging-market consumer lending, Investing.com has learned.
(Bloomberg) -- Apple Inc.’s much-anticipated Siri overhaul is set to become the centerpiece of its next iPhone, iPad and Mac software updates — and Bloomberg News is offering the first peek at what the new digital assistant will look like.Most Read from BloombergSingapore Hands Byju's Founder His First Ever Jail TermIran’s Khamenei Says No Going Back for Middle East Rocked by WarTwo More Oil Supertankers Exit Hormuz to Help Push Up FlowsEx-President Biden Sues to Stop DOJ Sharing Interview Tapes
Comcast’s first big test on becoming a big player in regional theme parks begins July 1. It will feature attractions based on popular franchises such as “Minions,” “Shrek,” and “Spongebob Squarepants.” Unlike its landmark destinations in Florida and California, the theme park will compete with existing regional parks in the Dallas-Fort Worth area, including the original Six Flags park and a Peppa Pig Theme Park.
(Bloomberg) -- The talent at some of America’s hottest artificial intelligence companies often passes through Boston-area universities before heading west to build billion-dollar businesses in Silicon Valley. Massachusetts business and political leaders say California’s proposed tax on billionaires is an opportunity to change that.Most Read from BloombergSingapore Hands Byju's Founder His First Ever Jail TermIran’s Khamenei Says No Going Back for Middle East Rocked by WarTwo More Oil Supertanker
Billionaire hospitality mogul Tilman Fertitta is acquiring Caesars Entertainment for almost $6 billion, a merger that would create one of the largest casino companies in the world. Caesars became an iconic name after the opening of Caesar’s Palace on the Las Vegas Strip in 1966. Fertitta is the CEO of Fertitta Entertainment, a company that owns Las Vegas' Golden Nugget and chains like Rainforest Cafe and Morton's. Fertitta also owns the NBA team Houston Rockets, and he is the largest shareholder in Wynn Resorts as well as in DraftKings, the sports betting company.
Wall Street stocks are expected to go into reverse on Thursday as optimism about the ceasefire in the Gulf and a potential US-Iran peace deal became increasingly strained. Futures for the tech-laded Nasdaq were tipped to lead the decline, down 0.5%, while S&P 500 and Dow Jones futures...
Small biotech firms "latch onto" AI more quickly than bigger firms, the head of Chinese tech giant Tencent's healthcare division said on Thursday, as more businesses embrace AI to improve efficiency. Pharmaceutical companies are also increasingly turning to AI to accelerate research and development, betting on new modeling tools and automated labs to improve efficiency and slash costs as well as drug development timelines. Drugmakers including Novo Nordisk and Eli Lilly have announced AI-related collaborations with technology firms.
Every IPO prospectus has a risk factors section. Almost no one reads it. With SpaceX preparing to list on the NASDAQ, the document is hundreds of pages long, and the most interesting sentences are buried where retail investors rarely look. I’ve been reading space-economy filings for years now, and two admissions inside SpaceX’s pre-IPO disclosures ... Two Things SpaceX Just Admitted Ahead of Its IPO That Wall Street Doesn’t Want You to Read
May 28 (Reuters) - IBM will invest more than $10 billion over the next five years in an effort to deliver the first large-scale fault-tolerant quantum computer by 2029, according to an SEC filing on
Zscaler Inc (NASDAQ:ZS) shares plunged 31. 52% on Wednesday, May 27, marking one of the sharpest selloffs among major U.
There is always one IPO that defines a generation of investors. For people who started buying stocks in the 1990s, it was Microsoft (MSFT) and Amazon (AMZN). For millennials, it was Facebook and Tesla (TSLA). Each one arrived with the same problem, a valuation that looked impossible right up until ...
EQT has partnered with Alphabet's Google Cloud to help more than 300 companies in the Swedish private equity firm's portfolio accelerate the adoption of AI, the companies said on Thursday. Under the agreement, EQT's portfolio companies, spanning sectors from enterprise software to healthcare, will gain access to AI tools including the Gemini Enterprise Agent platform to build programs, as well as cybersecurity services. The companies will also get early access to selected Google Cloud AI products in the future, the companies said in a statement.
Inflation is taking the fun out of retirement. Rising costs are taking too big a bite out of many retirees' budgets, creating stress, sleepless nights and constant worries about money. The math isn't adding up for many retirees since their paychecks stopped, according to Schroders.
IBM will invest more than $10 billion over the next five years in an effort to deliver the first large-scale fault-tolerant quantum computer by 2029, according to an SEC filing on Thursday. The investment will go toward R&D, capital expenditures, scaling manufacturing capabilities and acquisitions, the company known for building the Watson supercomputer said. Last week, companies including IBM and GlobalFoundries announced the Trump administration will take stakes in quantum computing firms to secure leadership in the emerging technology.
Under the new project, dubbed Project Lightwell, the companies said they will deploy a global force of 20,000 engineers, supported by advanced AI, to establish a trusted enterprise clearinghouse.
May 28 () - CVS Health said on Thursday it will add Eli Lilly's weight-loss drug Zepbound back to some of its drug lists as an additional preferred option for insurance coverage. Caremark, CVS' pharmacy benefit management unit, had dropped Zepbound from coverage on July 1 last year, while continuing to reimburse for rival Novo Nordisk's Wegovy after negotiating a more favorable price from the Danish drugmaker.
<body><p>STORY: :: Chris Kirkham, Automotive enterprise reporter</p><p>"The big promise Elon Musk has made about Full Self-Driving technology is that it will soon turn every Tesla on the road into a driverless vehicle. It’s a big reason why the company is valued at about $1.5 trillion —</p><p>// ZOOM</p><p>five times that of any other automaker."</p><p>// MUSK AT ROBOTAXI EVENT</p><p>"We found after talking to 10 former Tesla employees who helped train its self-driving software that Tesla’s technology is still far off from what Musk is promising.</p><p>"Seven of those employees said they wouldn’t trust the software to drive them anywhere. While at Tesla, the employees reviewed videos showing Teslas equipped with the Full Self-Driving software striking dogs, cats and wildlife like deer, as well as close calls with pedestrians including children. Some saw Teslas using the software fail to pull over for approaching emergency vehicles, fail to stop for school buses and drive into a construction zone, nearly striking workers. The vehicles using the technology often sped. One former employee said vehicles using a Full Self-Driving mode called “Mad Max” would go 20 to 30 miles per hour over the speed limit.</p><p>"Even though Tesla, according to the employees, knew about these deficiencies, Musk pushed forward with the launch of a robotaxi network in Austin, Texas last June. Our reporting shows that employees worked to train the software on specific streets and intersections so that the demonstration would go smoothly. They said this kind of training is impossible to do on a wide scale. Yet Musk has said Tesla’s technology “works anywhere,” and doesn’t require mapping or programming the software for it to operate in specific places.</p><p>"Another interesting thing we found is that Tesla is using some fuzzy math to claim that its Full Self-Driving technology is either 10 times safer or, more recently, seven times safer than the average human driver. We found after talking to 11 traffic safety experts that Tesla is comparing apples and oranges to do this math. It’s counting only the worst of its crashes, the ones where airbags go off, and comparing them to a set of federal data that includes more minor accidents. This distorts Tesla's safety record and makes its technology look better than it actually is. </p><p>"By contrast, Waymo, the U.S. leader in driverless taxis, takes a more rigorous approach. It publishes its safety stats in peer-reviewed journals and says it adjusts for the specific roads and conditions its vehicles actually operate in. </p><p>"We sent Tesla a detailed list of questions for this report, but got no response. In the past, Tesla has defended its Full-Self Driving technology, saying it could save lives and prevent injuries. The traffic-safety researchers who spoke to Reuters said they viewed Tesla’s claims about the safety of Full-Self Driving as marketing rather than a serious investigation into a critical safety issue."</p></body>
(Bloomberg) -- Nomura Holdings Inc. raised its profit targets following a year of record earnings, as Chief Executive Officer Kentaro Okuda pushes for stable growth. Most Read from BloombergSingapore Hands Byju's Founder His First Ever Jail TermIran’s Khamenei Says No Going Back for Middle East Rocked by WarTwo More Oil Supertankers Exit Hormuz to Help Push Up FlowsEx-President Biden Sues to Stop DOJ Sharing Interview Tapes‘KPop Demon Hunters’ Studio Draws Tencent Music InvestmentJapan’s biggest
June S&P 500 E-Mini futures (ESM26) are down -0.26%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.54% this morning, pointing to a lower open on Wall Street as oil prices and bond yields rose after fresh attacks in the Middle East cast doubt on whether an end to the war is imminent.
May 28 (Reuters) - Whether they are recruiting the ideal "momfluencer" to sell diapers or trawling through reams of data to fast-track drug launches, global centers of multinational firms in India are increasingly putting AI to work in creative ways. Heads of several Global Capability Centres (GCCs) told Reuters they are deploying AI across a host of functions - from marketing and content creation to finance and human resources - to automate time-consuming, repetitive tasks that once require
BRUSSELS, May 28 (Reuters) - JD.com's acquisition of German retailer Ceconomy will not be financed by Chinese subsidies, the Chinese online retailer said on Thursday after EU antitrust regulators
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