Tag: Business
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StanChart lifts income target after wealth boom powers earnings beat; shares jump
HONG KONG/LONDON, July 29 : Standard Chartered reported on Wednesday a better-than-expected 9 per cent rise in first-half pretax profit and lifted its full-year income target, as wealth and global banking revenue surged and credit charges tied to the Iran war held steady.The bank’s Hong Kong-traded shares ros
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Why America’s super rich have embraced the appeal of British soccer teams
American investors now control more than half the Premier League. CNBC examines why U.K. soccer clubs have become attractive long-term assets.
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StanChart first-half profit rises 9%, beating estimates on strong wealth growth
HONG KONG/LONDON, July 29 : Standard Chartered (StanChart) reported on Wednesday that first-half pretax profit rose 9 per cent, bolstered by surging wealth and global banking revenue, helping the emerging markets lender offset ongoing credit charges tied to the Iran war.StanChart, which earns most of its reve
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Gold holds steady ahead of Fed’s rate decision
July 29 : Gold prices were largely steady on Wednesday as investors awaited the U.S. Federal Reserve’s policy decision and comments from Fed Chairman Kevin Warsh for clues on inflation and interest rate outlooks.Spot gold was little changed at $4,029.08 per ounce by 0301 GMT. U.S. gold futures for August deli
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Meta’s Zuckerberg warns against curbs on Chinese AI models, FT reports
July 28 : The U.S. government should not block Chinese models to gain an edge in the AI race, Meta Platforms CEO Mark Zuckerberg told the Financial Times in an interview published on Tuesday, as Washington warns that Chinese companies could face penalties over the alleged theft of U.S. technology.Zuckerberg
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AI industry slowdown may be needed after security scare, leaders warn
NEW YORK: Over 1,000 employees at cutting-edge artificial intelligence companies, including Anthropic CEO Dario Amodei, signed a petition on Tuesday (Jul 28) calling on the United States government to help slow down the release of the most advanced AI models.The petition, titled “Pacing the Frontier”, request
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SK hynix posts 1,200% net profit boost on AI chip boom
SEOUL: South Korea’s SK hynix said on Wednesday (Jul 29) that second-quarter net profit soared a whopping 1,242 per cent year-on-year, driven by the artificial intelligence industry’s explosive demand for its advanced memory chips.SK hynix is a specialist supplier of high-bandwidth memory chips to US industry
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Australia’s Meteoric Resources ties up with Posco for Brazil rare earths project
July 29 : Australia’s Meteoric Resources said on Wednesday it had signed an agreement with South Korea’s Posco International to support development and financing for its Caldeira rare earths project in Brazil, sending its shares sharply higher.Here are the details:• Under the memorandum of understand
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Gold edges lower ahead of Fed decision on interest rates
July 29 : Gold prices inched lower on Wednesday as the dollar held firm and market participants awaited the Federal Reserve’s policy decision for clues on inflation and the path of U.S. interest rates.FUNDAMENTALS* Spot gold fell 0.1 per cent to $4,021.87 per ounce by 0052 GMT. U.S. gold futures for Au
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Exclusive-OpenAI’s rogue agent compromised a customer at a second tech firm, executive says
WASHINGTON, July 28 : The rogue agent that escaped from OpenAI and went on a days-long hacking spree at the AI firm Hugging Face also compromised a customer at a second tech company — New York-based Modal Labs — according to a Modal executive and two other sources familiar with the matter.Modal executive
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