Tag: cent
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Global tech rout loses steam
ORLANDO, Florida, Oct 15 : The AI equity rout accelerated significantly in Asia on Thursday on growing fears about the murky, circular financing powering the intelligence revolution’s buildout, although its force evaporated in European and US trading hours. Still, safe-haven inflows meant US Treasuries had one of th
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CoreWeave’s slump spotlights growing burden of debt behind AI boom
Oct 15 : Shares and bonds of Nvidia-backed CoreWeave tumbled again on Thursday despite CEO assurances about its strong deal backlog, laying bare a growing crisis of confidence in an AI build-out increasingly financed with borrowed money.The loss-making AI cloud company is burdened with about $50 billion in de
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Dollar retreats from 18-month high despite strong inflation data
NEW YORK/LONDON, Oct 15 : The dollar retreated from an 18-month peak on Thursday as investors looked past strong US inflation and spending data to focus on a shakeout in the securities of AI data center firms.US producer prices rose by the most in 4-1/2 years in September as goods and services costs increas
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Wipro deal wins plunge to near four-year low, deepening turnaround worries
BENGALURU, Oct 15 : Wipro’s quarterly deal bookings plunged to an almost four-year low, deepening worries that India’s fourth-largest IT firm is ceding market share to rivals.Thursday’s news dragged down the company’s US-listed shares 4.5 per cent in premarket trading and highlighted CEO Srinivas Pallia’s str
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CoreWeave’s slump puts spotlight on debt behind AI boom
Oct 15 : Shares and bonds of Nvidia-backed CoreWeave tumbled again on Thursday despite CEO assurances about its strong deal backlog, laying bare a growing crisis of confidence in an AI build-out increasingly financed with borrowed money.The loss-making AI cloud company, burdened with about $50 billion in debt
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India’s Tech Mahindra maintains fiscal 2027 margin target after large deals drive revenue beat
Oct 15 : India’s Tech Mahindra on Thursday maintained its fiscal 2027 operating margin target after beating expectations for second-quarter revenue, helped by a ramp-up in large deals across communications and other businesses.The IT services company said it remained on track to deliver a 15 per cent operatin
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India’s Wipro beats second-quarter revenue expectations, deal bookings drop
BENGALURU, Oct 15 : Wipro, India’s fourth-largest IT company, reported higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its European clients and artificial intelligence unlocking new revenue streams.The company’s consolidated revenue rose 9.1 per cent to 247.53 billi
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CoreWeave shares, bonds slide further as AI debt fears mount
(Corrects dateline to Oct 15 from Oct 14)Oct 15 : AI cloud firm CoreWeave’s shares and bonds slumped further on Thursday despite CEO assurances about its strong deal backlog, in one of the deepest crises of investor confidence yet in an AI build-out increasingly fueled by borrowing.The company’s stock
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Dollar eases from 18-month high as Treasury yields fall; Fed hike bets ease
LONDON, Oct 15 : The dollar slipped from an 18-month peak on Thursday as a sharp drop in Treasury yields weighed on the greenback, while cautious remarks from Federal Reserve officials tempered October hike expectations despite hot inflation data. The dollar index, which measures the US currency against a ba
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Prolonged war, renewed disruptions pose biggest risk to Middle East region, IMF says
BANGKOK, Oct 15 : Prolonged war in the Middle East and further disruptions to energy production, shipping routes or critical infrastructure pose the biggest risk to economies in the Middle East and Central Asia, the International Monetary Fund said on Thursday.Jihad Azour, the IMF’s director for the Middle Ea
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