Reported 35 minutes ago
Source: YAHOO
Reported about 2 hours ago
In recent stock market news, Novo Nordisk (NVO) sees a surge after positive trial results for its Ozempic drug, showing greater reductions in heart attack and stroke risk compared to Eli Lilly's product. Alphabet's (GOOG) Android benefits from China dropping its antitrust investigation, providing a boost in the competitive smartphone market, while GE Healthcare (GEHC) is contemplating a sale of its Chinese business, highlighting its financial strategies amidst market fluctuations.
Source: YAHOO
Reported about 3 hours ago
China has concluded its antitrust investigation into Google, positively impacting the tech giant amid US-China trade negotiations. Meanwhile, Donald Trump's state visit to the UK is focused on trade discussions, including tariff negotiations that could affect British steel and aluminum. Additionally, the Federal Reserve has cut interest rates for the first time this year, with indications of more cuts ahead.
Source: YAHOO
Reported about 4 hours ago
US stock futures surged on Thursday after the Federal Reserve hinted at more interest rate cuts, while Nvidia announced a $5 billion investment in Intel, boosting the latter's shares by nearly 30% in premarket trading. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures climbed as investors reacted positively to these developments, shaking off initial concerns from the Fed's recent rate reduction. Analysts are also watching upcoming jobless claims data and corporate earnings, including FedEx's quarterly results, amid ongoing economic adjustments.
Source: YAHOO
Reported about 4 hours ago
Nvidia announced a $5 billion investment in Intel, becoming one of its largest shareholders after a tumultuous period for the chipmaker. This partnership will focus on developing combined chip solutions for PCs and data centers, enhancing the speed of communication between Intel and Nvidia products. The deal follows a series of governmental interests in Intel, indicating a shift in support for the struggling company, while also presenting potential challenges for competitors like AMD and TSMC.
Source: YAHOO
Reported about 4 hours ago
The Federal Reserve's recent decision to cut interest rates by 25 basis points is explored by economist Gregory Daco, who explains how these changes affect everyday consumers and businesses. He highlights that long-term interest rates significantly influence borrowing for major purchases, such as homes and cars. Daco warns that anticipated increases in long-term rates could limit economic stimulation, underscoring the need for a balanced policy approach to support the labor market.
Source: YAHOO
Reported about 4 hours ago
American Express has announced significant upgrades to its U.S. Platinum cards, including new benefits valued at over $3,500 annually while increasing the annual fee from $695 to $895. This strategy aims to leverage the affluence of its clientele and maintain competitiveness in the premium credit card market. The enhancements include dining credits, purchases at lululemon, Uber One memberships, and expanded hotel perks, catering particularly to younger cardholders who view fees as a valuable investment in experiences.
Source: YAHOO
Reported about 4 hours ago
China has halted its antitrust investigation into Google as trade discussions with the US intensify, especially concerning TikTok and Nvidia. This shift aims to refine China's retaliation strategies during the delicate trade talks, while also enhancing pressure on domestic Nvidia chip purchases. Concurrently, US officials express optimism about nearing a trade agreement with China amid ongoing tariff implications affecting various sectors, including pharmaceuticals and agriculture.
Source: YAHOO
Reported about 5 hours ago
Huawei Technologies plans to launch the world's most powerful AI computing clusters over the next two years, aiming to outperform global leaders despite relying on less powerful domestic semiconductors. Amidst the backdrop of U.S. restrictions on advanced chip sales to China, Huawei emphasizes a strategy focused on self-reliance, announcing the upcoming release of its Atlas 950 and 960 superpods, which will leverage many interconnected chips to compete in the AI sector.
Source: YAHOO
Reported about 5 hours ago
Meta Platforms is in discussions with media giants like Axel Springer, Fox Corp, and News Corp to license news content for its AI products, according to the Wall Street Journal. While some talks are still in preliminary stages and may not lead to agreements, these efforts are part of Meta's broader reorganization of its AI initiatives under Superintelligence Labs. Other firms, such as OpenAI and Amazon, have also sought similar partnerships with news organizations.
Source: YAHOO
Reported about 5 hours ago
India's Chief Economic Adviser, V. Anantha Nageswaran, indicated that the U.S. may soon eliminate its 25% penal tariff on Indian imports and reduce the reciprocal tariff to between 10-15%. This follows positive trade discussions between the two nations, which hope to resolve trade tensions exacerbated by recent punitive tariffs imposed by former President Trump.
Source: YAHOO
Reported about 5 hours ago
US stock markets are rallying as Nasdaq futures lead the gains following the Federal Reserve's decision to cut interest rates for the first time this year, with further cuts expected in the coming months. The Dow Jones and S&P 500 are also on the rise, with the S&P 500 poised to cross 6,700 at the market's open. Investors are anticipating more job market insights as weekly unemployment claims are released, amidst concerns over the economic implications of the Fed's recent rate decisions.
Source: YAHOO
Reported about 5 hours ago
Huawei Technologies has outlined its strategy to challenge Nvidia's dominance in the AI chip market, introducing SuperPod technology that can connect up to 15,488 Ascend neural processing units. This move comes amidst ongoing U.S. export restrictions, pushing Huawei to enhance its system designs and local fabrication capabilities. The company plans to release a new series of Ascend chips in the coming years, aiming for increased computing power and resilience in the face of trade challenges.
Source: YAHOO
Reported about 5 hours ago
Turkish Airlines' unexpected acquisition of a stake in Spanish airline Air Europa has been attributed to its willingness to share control with the airline's current owners, unlike rival bidders Lufthansa and Air France-KLM, who sought greater control. Turkish Airlines plans to invest €300 million for a 25-27% stake, focusing on expanding its reach into key markets like Latin America. This deal represents a significant move by a non-European airline in a fragmented European market, highlighting Turkish Airlines' strategic approach to bolster connectivity despite its minority stake challenges.
Source: YAHOO
Reported about 5 hours ago
Cracker Barrel Old Country Store Inc. experienced a significant decline in stock price following a sales forecast that fell short of expectations, largely attributed to backlash over a controversial logo change. The restaurant chain anticipates revenue between $3.35 billion and $3.45 billion for fiscal 2026, lower than the $3.52 billion analysts had projected. This decline in sales is coupled with a significant decrease in foot traffic—down approximately 8% since the logo change, prompting the company to revert to its traditional branding.
Source: YAHOO
Reported about 5 hours ago
Huawei has revealed its product roadmap for AI chips and computing systems, aiming to compete with Nvidia. Key highlights include the Ascend series, with upcoming models 950, 960, and 970, and the introduction of proprietary high-bandwidth memory technology. The company also showcased its cluster computing systems, like the Atlas 900 and upcoming Atlas 950 SuperPod, promising significantly higher computing power than Nvidia's offerings. Additionally, Huawei plans to expand its Kunpeng CPU line with new models in the coming years.
Source: YAHOO
Reported about 5 hours ago
U.S. stock index futures surged, with the S&P 500 and Nasdaq reaching record highs after the Federal Reserve announced its first interest rate cut of the year. Fed Chair Jerome Powell highlighted concerns over the softening job market, signaling potential further cuts in upcoming meetings. Despite a tempered outlook on aggressive easing, investor optimism remained buoyed by expectations of ongoing monetary policy support, contributing to a recent rally in U.S. equities.
Source: YAHOO
Reported about 5 hours ago
Automakers have managed to keep car prices stable despite the financial burden of U.S. tariffs, absorbing billions in costs since their implementation. Currently, the average price of new vehicles has only seen a slight increase, but with tariffs likely to persist, pressures to raise prices are mounting. Analysts expect gradual price hikes later this year as companies navigate the fine line between maintaining competitive pricing and protecting their profit margins, all while considering consumer tolerance for higher costs following a surge in vehicle prices during the pandemic.
Source: YAHOO
Reported about 5 hours ago
In the wake of President Trump's trade war, U.S. footwear and apparel mergers have surged to unprecedented highs, driven by a need to offset tariffs. Major brands like Skechers and Foot Locker are leading the charge, with Skechers recently announcing a $9.42 billion deal to go private and Foot Locker accelerating a $2.4 billion sale to Dick's Sporting Goods. The industry is seeing over $21 billion in deal announcements this year alone, highlighting the importance of scale in navigating the current chaotic economic landscape.
Source: YAHOO
Reported about 5 hours ago
Swiss exports to the United States fell by over 22% in August, after President Trump's implementation of 39% tariffs. Despite overall exports dipping only slightly, the tariffs have caused significant concern among Swiss export-oriented businesses, marking the lowest export levels to the U.S. since late 2020. This decline was somewhat mitigated by increased exports to EU countries and Canada, with Germany surpassing the U.S. as Switzerland's largest export market.
Source: YAHOO
Reported about 5 hours ago
Fed Chair Jerome Powell warned that there are now 'no risk-free paths' for economic policy as the central bank shifts focus towards balancing maximum employment and inflation control. With the labor market weakening and rising unemployment, the Fed plans to ease restrictions, forecasting two additional rate cuts this year. Powell emphasized the unusual tension between the Fed’s dual goals and reassured that the institution remains resilient against external influences.
Source: YAHOO
Reported about 6 hours ago
Swiss watch exports saw a significant decline of about 17% in August, primarily due to weak demand in China, which dropped by 36%, and the implementation of high US tariffs that began on August 7. The downturn highlights challenges faced by major Swiss watchmakers including Richemont and Swatch Group, with analysts indicating that the adverse conditions outweigh any signs of a recovery in the US market. As a response, brands like Swatch have creatively addressed the tariff issue while awaiting more favorable trade agreements between Switzerland and the US.
Source: YAHOO
Reported about 6 hours ago
Indian edtech startup upGrad is shifting focus towards establishing more partnerships with universities in the Middle East and Asia-Pacific due to a decline in students choosing to study in the U.S. and U.K. This change comes in response to increasing visa restrictions and costs that deter potential international students. UpGrad, which collaborates with around 80 universities to provide online education, is exploring opportunities in countries like Dubai, Malaysia, Vietnam, and Sri Lanka as alternatives for students facing challenges in traditional Western destinations.
Source: YAHOO
Reported about 6 hours ago
Nestle's new CEO, Philipp Navratil, is calling for the company to adopt a faster pace and embrace innovative ideas, as he outlines his commitment to enhancing Nestle's operational efficiency and achieving its 2025 goals. In his first public statement, Navratil urged staff to collaborate on making the company 'better, smarter, and faster', following his appointment to lead the Swiss food giant after the dismissal of his predecessor.
Source: YAHOO
Reported about 6 hours ago
The president of the Petroleum Association of Japan, Shunichi Kito, emphasizes the need for Japan to diversify its crude oil sources beyond the Middle East. However, he notes that importing Canadian oil may prove difficult due to its heavy characteristics. Meanwhile, Alberta is looking to invest in Japan's refining sector to reduce its dependence on the U.S. for oil exports.
Source: YAHOO