Tag: cent
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IMF warns of slowing Asian growth, spillover from rising yields
BANGKOK, Oct 15 : The International Monetary Fund on Thursday projected Asia’s economic growth would moderate next year and warned of heightening risks from the Iran war-induced energy shock, a potential correction in the AI boom and spillovers from rising global bond yields.In a report on the outlook for the
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Japan to invest $21 billion in up to two GlobalFoundries chip factories in New York
NEW YORK/WASHINGTON, Oct 14 : Japan will invest about $21 billion to build up to two chip factories in New York State that will be jointly owned by the US government and Japanese interests and operated by GlobalFoundries, the company said on Wednesday.The initiative is part of a Trump administration deal str
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Red hot CPI report fuels AI rout
NEW YORK, Oct 14 : Major AI stocks slumped on Wednesday following the latest hot US inflation report, highlighting investor concern about the risks posed by rising borrowing costs in this capital-intensive sector.Among the leading decliners were data center operator CoreWeave, which fell 16 per cent, AI infra
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US inflation heats up in September; Fed rate hike this month back on table
WASHINGTON: US consumer prices accelerated in September as the cost of gasoline surged, dealing another blow to US President Donald Trump and his Republican Party ahead of the Nov 3 midterm elections and putting an interest rate increa
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AI-powered stock funds bet bots can pick stocks faster and better than humans
PROVIDENCE, Rhode Island, Oct 14 : A handful of fund managers are betting that exchange traded funds run by AI stock-picking models can crunch data quicker and make better investment decisions than humans, even as many people remain wary or even fearful of artificial intelligence.So far, fewer than half-a-doz
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AI infrastructure firms slump as US rate hike bets rise
Oct 14 : Shares of debt-heavy AI firms tumbled on Wednesday as prospects of higher interest rates intensified concerns over the financing of the industry’s massive buildout.Companies whose shares had rallied earlier this year on AI optimism were some of the worst performers on the main benchmarks.Here
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Thailand can return to 3% growth within 2-3 years, central bank official says
BANGKOK, Oct 14 : Thailand’s return to economic growth of about 3 per cent is “definitely possible” within three years if it can tackle some of its structural issues, a deputy central bank governor said on Wednesday, signalling alignment with the government’s stance.The Bank of Thailand’s monetary policy will
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IMF dials up calls for urgent fiscal consolidation
BANGKOK, Oct 14 : The International Monetary Fund on Wednesday issued an urgent call for advanced economies and others to reduce government spending, cut deficits and lower debt levels, warning that delays would only make the job harder in coming years.Rodrigo Valdes, head of the IMF’s Fiscal Affairs departme
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Televisa, Fintech to take on America Movil with $2 billion purchase of AT&T’s Mexican unit
MEXICO CITY, Oct 13 : Grupo Televisa and Fintech Holdings have agreed to buy AT&T’s Mexican unit for $2 billion in cash, setting up a showdown with telecoms giant America Movil and marking one of Mexico’s biggest M&A deals in recent years.News of the deal, described as a “bargain” by Scotiabank, sent shares i
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Dollar languishes as focus turns to CPI, Fed speakers
TOKYO, Oct 14 : The dollar languished on Wednesday as traders awaited fresh signals on the timing for interest rate hikes to contend with persistent inflation.The greenback weakened from an 18-month high in the previous session as oil prices eased and investors reassessed the AI-fueled rally that has supporte
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