Tag: billion
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HSBC restarts buybacks after rates and wealth boost H1 profit
HONG KONG/LONDON, Aug 4 : HSBC Holdings reported a better-than-expected first-half profit and raised its net interest income target, driven by revenue growth in lending and wealth management fee earnings on robust money flows.Europe’s largest bank posted a pretax profit of $19.5 billion for the first six mont
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SoftBank’s AI funding plans to face reckoning at earnings
TOKYO, Aug 4 : Technology investor SoftBank Group reports first-quarter earnings on Thursday, with analysts focused on how it will fund its ongoing investment in OpenAI and the impact of rising leverage on its balance sheet.SoftBank has become one of the biggest backers of OpenAI and its ability to keep fu
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Rabobank to spend €2 billion in AI and tech as net profit stagnates
Aug 4 : Dutch bank Rabobank said it would invest €2 billion ($2.30 billion) over the next three years in data, tech and AI, as banks around the world step up their AI investments.• “Artificial intelligence, data and other new technologies will further transform the way we work. To take full advantage of t
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Exclusive-Shein seeks $30-$40 billion valuation for August Hong Kong IPO, sources say
LONDON/HONG KONG, Aug 4 : Shein is seeking a valuation of $30 billion to $40 billion in a Hong Kong initial public offering (IPO) that the online fast-fashion retailer plans to launch as early as mid-August, three people familiar with the matter said.Shein started pre-deal investor meetings last week, one per
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Singapore’s Grab lifts 2026 forecasts on solid delivery, ride-hailing demand
The upbeat projections and a new US$750 million share buyback program pushed shares of the Nasdaq-listed company up 3 per cent in extended trading, but the stock is down more than 26 per cent this year.
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Palantir lifts annual revenue forecast on steady demand for AI-powered data analytics
Aug 3 : Palantir Technologies on Monday raised its annual revenue forecast again, signaling strong government and commercial demand for its data analytics software, sending its shares up 14 per cent in extended trading.Denver-based Palantir has increasingly been marketing military-grade AI tools to businesses
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Onsemi forecasts upbeat revenue on surging AI data center chip demand
Aug 3 : Chipmaker Onsemi on Monday forecast third-quarter revenue above Wall Street expectations, betting on surging demand for power management chips used in AI data centers.Onsemi’s results come as it looks to its biggest deal yet, a $7 billion all-stock acquisition of Synaptics announced in June, to tap in
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Palantir lifts annual revenue forecast as data analytics spending booms
Aug 3 : Palantir Technologies on Monday raised its annual revenue forecast again, signaling strong demand for its data analytics software from government and commercial clients, sending its shares up 8 per cent in extended trading.Modern warfare and geopolitical uncertainty have prompted governments to invest
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Visa beefs up cybersecurity offerings with $2.4 billion BioCatch deal
Aug 3 : Visa said on Monday it would buy fraud intelligence provider BioCatch for $2.4 billion in cash from investment firm Permira and other investors, marking the card giant’s latest effort to beef up its cybersecurity offerings.The deal would help the world’s largest payment processor further bolster its e
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Japan may have intervened in FX market by spending $36.58 billion to buy yen
TOKYO, Aug 3 : Japan may have spent as much as $36.58 billion to buy yen in the latest action aimed at strengthening the local currency, central bank data indicated on Monday, continuing an effort to bring the yen’s value back from historic lows against the U.S. dollar.The Bank of Japan’s projection for money
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