Reported 15 days ago
Source: YAHOO
Reported 15 days ago
Freight rates are experiencing a spike as China retaliates against the US by imposing new port fees, which could significantly increase shipping costs for U.S.-related ships. Experts warn that these additional costs will ultimately be passed down to consumers, leading to higher prices on goods transported by sea, which constitutes 90% of global trade. The situation remains uncertain amid ongoing trade tensions and lack of clarity from both the US and Chinese governments.
Source: YAHOO
Reported 15 days ago
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer condemned China's recent export controls on rare earths, accusing it of economic coercion and threatening potential decoupling from the Chinese economy. Bessent indicated that the current 90-day tariff pause may be extended, although discussions will not occur before the upcoming APEC summit. He emphasized the US's commitment to protecting global supply chains from Beijing's influence and noted ongoing support for Argentina's economic situation.
Source: YAHOO
Reported 15 days ago
Anthropic, an artificial intelligence startup, is planning to nearly triple its annualized revenue run rate by 2026, bolstered by strong demand for its enterprise AI products. The company aims to exceed $20 billion in revenue next year, with projections suggesting a possible reach of $26 billion. Currently, Anthropic has around 300,000 enterprise customers driving 80% of its revenue, as it competes with OpenAI in the burgeoning AI market.
Source: YAHOO
Reported 15 days ago
Liberate, an AI startup focused on automating insurance processes, has raised $50 million in a round led by Battery Ventures, reaching a $300 million valuation. The company aims to scale its AI solutions across the insurance sector, addressing rising operational costs and customer demands. Founded in 2022, Liberate's technology has reportedly increased sales by an average of 15% while reducing costs by 23%, with over 1.3 million automated tasks handled through its AI systems. The latest funding will help expand its capabilities and support broader implementation across insurers.
Source: YAHOO
Reported 15 days ago
The ongoing government shutdown, which began on October 1, is increasingly expected to last into November, with concerns that it could affect the Thanksgiving travel season. Lawmakers are grappling with budgetary standoffs, and analysts predict a potential end around November 4, coinciding with deadlines for military paychecks and healthcare enrollment. The situation is escalating, with warnings of significant economic costs, including losses potentially reaching $15 billion per day as negotiations remain stalled.
Source: YAHOO
Reported 15 days ago
According to Vanguard's latest Retirement Outlook report, many baby boomers are struggling to secure their financial future in retirement, with only the top earners prepared for it. Conversely, younger generations, particularly workers aged 24 to 28 and millennials, are projected to be in a better position, benefiting from improved access to employer-sponsored retirement plans and features like auto-enrollment. While the outlook is bleak for some, strategies like tapping into home equity and working longer could enhance retirement readiness for older generations.
Source: YAHOO
Reported 15 days ago
U.S. stocks closed mixed on Wednesday as the market navigated choppy trading influenced by strong bank earnings and persistent U.S.-China trade tensions. The S&P 500 rose by 0.4%, while the Dow Jones remained flat and the Nasdaq recorded a modest gain of 0.6%. Expectations for interest rate cuts were buoyed by comments from Federal Reserve Chair Jerome Powell, yet concerns over trade relations, particularly regarding potential sanctions from the U.S. on China, continued to weigh on investor sentiment.
Source: YAHOO
Reported 15 days ago
Vantage Data Centers has announced an investment of over €350 million ($407 million) to establish a second campus in Italy, located near Milan. This new facility will enhance digital infrastructure capacity, featuring two data centers with a total of 32 megawatts of IT capacity, with the first phase set to begin operations in Spring 2026. The investment is part of a broader strategy to meet rising demand for digital infrastructure in Europe.
Source: YAHOO
Reported 15 days ago
US tech startup Anthropic has revamped its smallest AI model, Haiku, introducing Haiku 4.5, which is significantly more affordable than its advanced counterparts, with costs being one-third of Sonnet 4 and one-fifteenth of Opus. This move aims to make AI technology more accessible to a broader range of businesses, particularly those outside Silicon Valley, allowing them to integrate AI more economically. The company, formed by former OpenAI employees, serves over 300,000 enterprise customers and has an annual revenue run rate of nearly $7 billion.
Source: YAHOO
Reported 15 days ago
Ashutosh Garg and Varun Kacholia, co-founders of Eightfold, have launched Viven, a digital twin startup aimed at improving workplace communication when team members are unavailable. With $35 million in seed funding, Viven utilizes advanced LLMs to create digital twins for each employee, allowing coworkers to query crucial information even in their absence. The technology ensures privacy by implementing pairwise context, making it capable of discerning sensitive information. Viven is already operational with enterprise clients and aims to tackle a unique market problem that so far has seen no direct competition.
Source: YAHOO
Reported 15 days ago
Tensions between the US and China escalate as President Trump threatens a cooking oil embargo due to China's refusal to purchase US soybeans. This situation is expected to positively impact oil-seed processors like Bunge (BG) and ADM (ADM), as well as Darling Ingredients (DAR), making them the primary beneficiaries of the potential embargo.
Source: YAHOO
Reported 15 days ago
The Bank of England has stated it will remove proposed caps on stablecoin holdings only when it is confident they do not threaten financial stability. This cautious approach comes in light of concerns about rapid outflows of deposits into stablecoins, which could negatively impact credit availability. The BoE plans to set limits for individuals and businesses, with a consultation on updated proposals expected next month. According to Deputy Governor Sarah Breeden, the limits would be lifted once the transition no longer jeopardizes the provision of finance to the economy.
Source: YAHOO
Reported 15 days ago
As Halloween 2025 approaches, candy prices have risen by over 8%, largely due to skyrocketing cocoa prices, which have more than doubled since early 2024 caused by extreme weather and supply constraints. Major cocoa-producing countries like Ghana and Côte d'Ivoire have faced severe weather fluctuations that have harmed crop yields, leading to a historic supply deficit. This situation has pushed manufacturers to pass costs onto consumers, resulting in reduced chocolate availability for Halloween treats and a shift towards sugar candies instead.
Source: YAHOO
Reported 15 days ago
As Halloween 2025 approaches, candy prices have surged over 8%, largely due to skyrocketing chocolate costs driven by more than doubling cocoa prices since 2024. Extreme weather patterns and supply issues have severely impacted cocoa production in West Africa, leading to a substantial cocoa supply deficit. This situation may result in less chocolate in trick-or-treat bags as manufacturers adjust to higher costs by reducing cocoa content or adapting product sizes. Experts warn that climate change continues to threaten cocoa cultivation, making the future of chocolate less certain.
Source: YAHOO
Reported 15 days ago
Major U.S. stock indexes rose on Wednesday, driven by strong quarterly results from Bank of America and Morgan Stanley, as well as a surge in semiconductor stocks led by Advanced Micro Devices following its chip sales deal with Oracle. The market was buoyed by expectations of future Federal Reserve rate cuts, with Bunge Global performing notably well in the S&P 500 due to favorable trade conditions. However, shares of Progressive, F5, and Abbott Laboratories fell amid rising costs and cyberattack concerns.
Source: YAHOO
Reported 15 days ago
Apple has announced its new M5 chip, marking a significant enhancement in AI capabilities for its latest MacBook Pro and iPad Pro models. This evolution from the M4 chip features AI accelerators that improve performance across devices, making them more efficient for multitasking and graphics-intensive tasks. The shift to the M5 also underlines Apple’s commitment to moving away from Intel processors, promising better battery life and overall performance. Further enhancements, including the anticipated M5 Pro and Ultra versions, are expected in the near future.
Source: YAHOO
Reported 15 days ago
Gas prices in the U.S. have dropped to an average of $3.06 per gallon, the lowest since January, as oil prices slide below $60 per barrel and demand weakens. While western states like California continue to see prices above $4, many regions, especially around the Great Lakes and the Gulf Coast, are experiencing rates below $3. Analysts expect prices could potentially drop even further in certain states. The decrease is attributed to shifts in refinements to cheaper fuel blends amidst a reduction in driving demand.
Source: YAHOO
Reported 15 days ago
On Wednesday, chip stocks made significant gains, with Advanced Micro Devices (AMD) rising about 8%, making it one of the top performers in the S&P 500. Driving this increase is ongoing optimism about AI-related spending, despite concerns about a potential bubble. The PHLX Semiconductor Index also saw a rise of 2.5%. Recent partnerships, including one with Oracle, have bolstered AMD's position, while overall enthusiasm for AI investments continues to attract investor interest in the semiconductor sector.
Source: YAHOO
Reported 15 days ago
自駕車公司Pony.ai和WeRide獲得中國證券監管機構的批准，可以在香港證券交易所進行二次上市。這兩家公司均位於廣州，目前已在美國納斯達克上市。Pony.ai和WeRide的上市計劃獲得中國證券監管委員會的核准，兩家公司都計劃進行全球發行。
Source: YAHOO
Reported 15 days ago
Meta Platforms has announced a collaboration with Arm Holdings to enhance AI-driven recommendations and personalization in its applications, including Facebook and Instagram. By utilizing Arm-based data center platforms, Meta aims to improve its AI ranking systems while also investing $1.5 billion in a new Texas data center. This partnership highlights Arm's growing presence in the chip market, particularly against traditional x86 systems from Intel and AMD, as they adapt Meta’s AI infrastructure software for broader use.
Source: YAHOO
Reported 15 days ago
Nvidia, Microsoft, and BlackRock have formed a consortium to acquire Aligned Data Centers for $40 billion, marking a significant move in the AI sector. Aligned is recognized as one of the largest and fastest-growing data center firms globally, and this deal signals robust expectations for AI demand as major companies invest in next-generation cloud and AI infrastructure. BlackRock's CEO stated the acquisition aims to provide the necessary infrastructure for the future of AI while presenting growth opportunities for clients.
Source: YAHOO
Reported 15 days ago
Meta Platforms Inc. has announced a partnership with semiconductor design company Arm to improve its AI systems as part of a significant infrastructure expansion. The collaboration will transition Meta's ranking and recommendation systems to Arm's optimized Neoverse platform, aimed at scaling AI innovations for its vast user base. The partnership emphasizes efficiency in AI deployment, with Meta also investing in new data centers, including projects that will significantly boost its computational power in the coming years.
Source: YAHOO
Reported 15 days ago
Meta Platforms announced a $1.5 billion investment in a new AI data center in El Paso, Texas, marking its 29th facility globally. Expected to be operational by 2028, this site will have a capacity to power a city like San Francisco for a day. The project is seen as part of a larger trend among major tech companies investing heavily in AI infrastructure, with Meta's new center projected to create around 100 permanent jobs and employ 1,800 workers during construction. Additionally, the facility will run on 100% renewable energy and aims to restore more water than it consumes.
Source: YAHOO