Tag: Business
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S&P 500 falls, yields rise following Fed announcement
NEW YORK, June 17 : Major stock indexes fell, bond yields rose and the U.S. dollar extended gains against the euro on Wednesday after the Federal Reserve held the benchmark interest rate steady and new projections showed officials expect a hike in borrowing costs later this year amid increasing inflation concerns.
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Dollar jumps as Fed holds rates but projects one hike later this year
NEW YORK, June 17 : The dollar strengthened across the board on Wednesday after the Federal Reserve held the benchmark interest rate steady and the Fed’s statement showed policymakers expect a hike in borrowing costs later this year amid growing concerns about inflation.While the central bank left the policy
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SLB looks to double digital business revenue, core profit by 2030
June 17 : SLB said on Wednesday that it aims to nearly double its annual digital revenue to $2 billion by 2030, as it expects AI-driven adoption to lift the global digital market to as much as $50 billion by the end of the decade.At its Digital Investor Day, the oilfield services provider also said…
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Chairman Warsh drastically alters Fed rate statement. Here’s what’s changed
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in April.
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AI lab Odyssey valued at $1.45 billion in latest funding round
June 17 : AI lab Odyssey said on Wednesday it has raised $310 million in a funding round that valued it at $1.45 billion.The Series B round was led by Natural Capital, with participation from Amazon, AMD Ventures, GV, EQT, IQT and others.“The last few years have seen major breakthroughs in scaling,
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Exclusive-Meta head of product for ‘AI for work’ transformation is leaving company
NEW YORK, June 17 : A Meta executive overseeing a key piece of its restructuring around AI agents is leaving the company, according to an internal announcement seen by Reuters on Wednesday.Emily Dalton Smith, who has been with the Facebook owner since 2015, previously held roles as a vice president of product
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Nippon Steel sees strong American market lifting US Steel earnings
TOKYO, June 18 : Nippon Steel, the world’s No. 3 steelmaker, expects the American market to remain buoyant, supported by import tariffs and resilient demand, which could lift earnings at U.S. Steel beyond current forecasts, Vice Chairman Takahiro Mori said.”We are confident that U.S. Steel will be able to po
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Analysis:SPACs are back, thanks to Wall Street’s mega-IPO frenzy
June 17 : SPACs are making a comeback. A flood of expected blockbuster IPOs this year is creating an opening for SPACs as smaller companies seek to capitalize on a favorable market without having to compete for investor attention against the likes of SpaceX, Anthropic and OpenAI.That is giving blank-
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CarMax shares fall after used car retailer reports earnings beats, CEO details turnaround plan
Despite the beats, questions remain about the company’s ability to grow and cut costs under the plan amid tougher market conditions, including margin pressure.
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Saudis seek EU approval for $55 billion EA deal, decision by July 22
BRUSSELS, June 17 : A group of investors including Saudi Arabia’s Public Investment Fund has sought EU antitrust approval for its $55 billion acquisition of videogame developer Electronic Arts, according to a European Commission filing on Wednesday.The Commission, which acts as the EU competition enforcer, se
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