Reported about 1 month ago
Italian company Eni and British oil firm BP have resumed onshore drilling in Libya after a decade-long pause, as announced by Libya's National Oil Corporation. Eni initiated its drilling activities in the Ghadames basin area over the weekend.
Source: YAHOO
Reported about 1 month ago
The French Caribbean island of Guadeloupe has imposed a curfew following a worker strike that left 370,000 residents without power for nearly 24 hours. While electricity has been restored to 160,000 people, efforts continue to reconnect the remaining households. The government has advised residents on generator safety and emphasized the importance of maintaining public order during this recovery phase.
Source: YAHOO
Reported about 1 month ago
Jin Liqun, the head of the Asian Infrastructure Investment Bank (AIIB), criticized advanced economies for imposing trade barriers, particularly against renewable energy products, asserting that free trade no longer exists globally. He highlighted the recent tariff hikes by the U.S. and Canada on Chinese electric vehicles, attributing rising trade tensions to increased competitiveness among emerging economies. Jin expressed concern over the growing obstacles to low carbon goods and emphasized the importance of free trade for global prosperity.
Source: YAHOO
Reported about 1 month ago
As the Artificial Intelligence (AI) market is projected to reach $826 billion by 2030, two companies stand out for their potential growth in this space: Nvidia and Meta. Nvidia continues to dominate the semiconductor sector, with strong demand for its AI chips and new product releases expected to enhance its strong market position. Meanwhile, despite challenges in its metaverse division, Meta is heavily investing in AI and remains profitable, suggesting future opportunities for innovation and efficiency in its advertising model.
Source: YAHOO
Reported about 1 month ago
At 67, facing uncertainty with a 2% fee financial adviser managing $500K, plus past investment in high-cost funds, raises concerns, especially with Social Security income of $2.2K/month. Despite a 26% return last year, doubts persist regarding the adviser's practices. Options include seeking a fiduciary adviser, using robo-advisors for lower costs, or managing investments through platforms like Vanguard or Fidelity. Understanding fees and potential conflicts of interest is crucial as retirement approaches.
Source: YAHOO
Reported about 1 month ago
Taiwan Semiconductor Manufacturing Company (TSMC) has suspended shipments to Chinese chip designer Sophgo after a chip it manufactured was found in Huawei's AI processor, the Ascend 910B. This discovery raises concerns about compliance with U.S. export controls, and both Sophgo and TSMC have stated their commitment to adhering to legal requirements. Sophgo insists it has no ties to Huawei, while TSMC has communicated with U.S. authorities following this incident.
Source: YAHOO
Reported about 1 month ago
The U.S. is solidifying its position as the leading market for luxury Swiss watches, as recent reports show a 2.4% increase in imports despite an overall industry decline. Events such as WatchTime NY showcase the importance of the American market for high-end brands like Ulysse Nardin and Urwerk, which see the U.S. as a crucial foundation for their sales. Despite a recent dip in growth, industry experts remain optimistic about the market's resilience and ongoing consumer interest in luxury timepieces.
Source: YAHOO
Reported about 1 month ago
Elon Musk has impressed Nvidia's CEO, Jensen Huang, with the construction of 'Colossus,' one of the fastest AI-training supercomputers, completed in just months thanks to the installation of 100,000 Nvidia H100 chips. This achievement reflects Musk's capability to mobilize vast resources for ambitious projects, further emphasizing the competitive landscape of the AI industry, where companies are willing to invest billions to stay ahead.
Source: YAHOO
Reported about 1 month ago
Qualcomm and Google are partnering to integrate artificial intelligence into vehicles, combining Qualcomm's Snapdragon Digital Chassis with Google's Android Automotive OS to create a 'digital cockpit'. This collaboration is expected to enhance in-car experiences with intuitive voice assistants, immersive mapping, and real-time updates, catering to driver needs. The technology will be initially adopted by Mercedes Benz and China's Li Auto, enabling features such as autonomous parking and seamless integration with users' digital lives, including connections to mobile devices and accounts.
Source: YAHOO
Reported about 1 month ago
Flood insurance is costly and often comes with significant coverage restrictions, yet it has become crucial amidst increasing flooding risks caused by climate change, affecting even non-coastal regions. Many homeowners remain uninsured or underinsured, facing potentially devastating financial burdens after disasters like Hurricane Helene. With traditional homeowners insurance rarely covering floods and only 4% of U.S. households having flood insurance, the need for better awareness and updated flood maps is urgent. Despite the challenges of understanding risk perception, especially after disasters, flood insurance payouts can be substantial, highlighting the importance of securing coverage.
Source: YAHOO
Reported about 1 month ago
As excitement over artificial intelligence drives market valuations higher, Wall Street analysts recommend selling Lumen Technologies while holding Super Micro Computer. Lumen, despite a significant rise in stock value, faces scrutiny over its ability to capitalize on AI demand, leading to negative ratings from analysts. In contrast, Super Micro has seen robust support due to its products’ potential in the AI sector, although concerns around past accounting practices persist. Investors are advised to proceed cautiously with both companies.
Source: YAHOO
Reported about 1 month ago
Uruguayans are preparing to vote in a presidential election dominated by a controversial pension overhaul, as the opposition Broad Front candidate, Yamandu Orsi, leads in the polls against incumbent Alvaro Delgado. While many voters grapple with economic concerns and increasing crime rates, tension surrounds a proposed amendment to the social security system that has left investors wary of potential fiscal ramifications. The voting will also include optional plebiscites on significant changes to the social security framework, with analysts predicting possible repercussions for the currency and government bonds based on the outcomes.
Source: YAHOO
Reported about 1 month ago
Reuters has reinstated its investigation into mercenary hacking on its website after an Indian court lifted a takedown order. The report, originally published in November 2023, explored how the New Delhi-based cybersecurity firm Appin evolved into a hack-for-hire entity. A lawsuit filed by a group associated with Appin claimed the article harmed their reputations, but the court found insufficient grounds for the injunction, leading to the restoration of the article while the lawsuit continues.
Source: YAHOO
Reported about 1 month ago
Gabriel Makhlouf, the chief of Ireland's central bank, emphasized the enduring appeal of Europe as the most livable region in the world, urging a focus on its strengths rather than solely on its problems. Speaking at a Washington event, he expressed confidence in Europe's sense of togetherness and potential, even amidst current economic struggles characterized by slow growth and investment hesitancy.
Source: YAHOO
Reported about 1 month ago
This week explores the psychological factors influencing voter perceptions of inflation as the 2024 presidential election approaches. While inflation rates have decreased from a peak of 9% to 2.4%, prices have risen cumulatively by 20% since Biden took office, impacting public sentiment. Analysis suggests that swing voters in key states may determine outcomes based on their inflation experiences, with differing models forecasting varied results. Despite economic indicators showing Biden's economy performing slightly better than Trump's, the lingering effects of inflation could significantly sway the election.
Source: YAHOO
Reported about 1 month ago
Nvidia is set to announce its third-quarter earnings for fiscal 2025 on November 20, with analysts optimistic about the company's strong demand in the AI sector. Goldman Sachs' Toshiya Hari highlights robust market demand driven by various enterprises beyond just hyperscalers. Despite concerns about competition in AI inference, Nvidia's consistent innovation positions it strongly in the market. Analysts remain bullish on Nvidia's growth prospects, anticipating further gains ahead of the earnings report.
Source: YAHOO
Reported about 1 month ago
Thieves posing as a wholesale distributor have stolen 22 metric tons of award-winning cheddar from Neal’s Yard Dairy in London, valued at £300,000 ($390,000). The scam was discovered when the company reported the theft, which involved nearly 1,000 wheels of cheese from various producers. In response, the dairy has urged international cheesemongers to be vigilant for the stolen products.
Source: YAHOO
Reported about 1 month ago
A significant number of individuals in the U.S. who earn over $175,000 a year consider themselves 'poor,' despite being among the top 10% of earners. They report feeling financially stressed due to high living costs and expenses that often overshadow their incomes. As inflation rises, many worry about their financial futures, with social media comparisons exacerbating feelings of inadequacy. This highlights that true wealth is not only a matter of income but also one's mindset and financial management.
Source: YAHOO
Reported about 1 month ago
As the presidential election season approaches, former AT&T Business CEO Anne Chow emphasizes the need for leaders to understand the importance of diversity, equity, and inclusion (DEI) beyond surface-level representation. Chow argues that DEI should be viewed as strategic imperatives involving fairness and a broadening of perspectives, rather than being politicized. With a background as a second-generation immigrant, she stresses that effective leadership transcends politics and titles, focusing instead on values and cultural impact.
Source: YAHOO
Reported about 1 month ago
Klaas Knot, a member of the European Central Bank's Governing Council, emphasized the need for flexibility in interest rates due to uncertainties in the economy. Speaking in Washington, he noted that recent data suggests balanced risks for inflation, but also raised concerns about disappointing growth in the euro area. Policymakers are divided on the pace of potential interest rate cuts as inflation drops unexpectedly fast and economic indicators signal stagnation. Knot expects a soft landing rather than a recession in the euro zone.
Source: YAHOO
Reported about 1 month ago
Cathie Wood, the founder of Ark Invest, recently sold $22.3 million worth of Tesla shares as part of her strategy to lock in profits amid fluctuating tech stock performance. Despite her aggressive investment style focusing on disruptive technologies, Wood faces scrutiny for the lack of consistent long-term returns from her flagship Ark Innovation ETF, which has seen significant outflows recently. While she remains a strong advocate for Tesla and its innovations, this latest move highlights ongoing debates about her investment approach and the ETF's overall performance.
Source: YAHOO
Reported about 1 month ago
In a discussion marking the 50th anniversary of the Equal Credit Opportunity Act, experts including Bank of America's Lorna Sabbia highlight the progress women have made in financial access and education since the act's implementation. While women now surpass men in earning college degrees, the gender pay and savings gaps persist, emphasizing that further efforts are needed to achieve true financial equality.
Source: YAHOO
Reported about 1 month ago
The US stock market continues its upward trend, even as gains extend beyond the struggling tech sector to other industries like real estate. However, corporate profits show a different picture, with significant reliance on major tech companies for growth. Excluding the so-called Magnificent Seven, earnings growth for S&P 500 firms could turn negative, raising concerns about the sustainability of the rally. Analysts predict a strong outlook for Big Tech, but the broader market must also improve to maintain momentum.
Source: YAHOO
Reported about 1 month ago
A recent analysis indicates that Donald Trump's proposed tariffs, which include a 60% tax on Chinese imports and 10% to 20% on goods from other nations, would significantly affect states with strong Republican support, such as Indiana, Kentucky, Tennessee, and Mississippi. The Tax Policy Center's report highlights that these tariffs could reduce GDP in the hardest-hit states by over 4%, revealing that while imports account for 11% of the U.S. GDP, their impact varies greatly by state, with some states like Kentucky experiencing a near 5% share. The analysis underscores the intricate relationship between tariffs and local economies, suggesting potential higher consumer prices and business challenges in these regions.
Source: YAHOO
Reported about 1 month ago
Italian police have placed four individuals under house arrest in connection with a probe into unauthorized access to state databases. The investigation is focused on a private intelligence firm allegedly run by a former policeman, and among those being investigated is Leonardo Maria Del Vecchio, son of the late Luxottica founder. The illicit access, reportedly used for blackmail and selling confidential data, dates back to 2019. Prosecutors highlight concerns about a burgeoning market for confidential information.
Source: YAHOO