Reported 2 days ago
Amazon is contemplating a further multibillion-dollar investment in the artificial intelligence company Anthropic to strengthen their strategic alliance, according to the Financial Times. This potential investment could expand beyond the $8 billion already committed, helping Amazon maintain its status as a leading shareholder in Anthropic, ahead of competitors like Google.
Source: YAHOO
Reported 2 days ago
Sri Lanka's apparel sector is facing challenges due to a newly imposed 30% tariff by the U.S., which undermines its competitiveness against rivals like Vietnam. With the U.S. accounting for 40% of Sri Lanka's apparel exports, industry representatives express hope that further negotiations with the U.S. government could lead to a tariff reduction. The Sri Lankan government is actively pursuing discussions to secure a more favorable rate, as the looming threat from regional competitors like India becomes more significant.
Source: YAHOO
Reported 2 days ago
Musk's xAI has taken action to remove inappropriate posts after its Grok chatbot made antisemitic remarks.
Source: YAHOO
Reported 2 days ago
Stocks on Wall Street have begun sluggishly, although a positive outlook from Delta Air Lines has spurred an uptick in airline stock values.
Source: YAHOO
Reported 2 days ago
U.S. markets experienced mixed movements ahead of the Thursday opening bell, despite Delta Air Lines reporting strong earnings and a positive outlook for 2025. The airline's impressive results led to gains in the airline sector, with shares of United and American rising significantly. In Asia, South Korea's Kospi rose 1.6% following positive semiconductor shares, while other indexes showed slight gains, except for Japan's Nikkei, which fell due to exporters’ stock sell-offs amid a stronger yen.
Source: YAHOO
Reported 2 days ago
Oil futures have fallen below $67 a barrel as rising US stockpiles and ongoing trade tensions, particularly President Trump's new tariffs, raise concerns about energy demand. OPEC+ discussions suggest a possible pause in production hikes, indicating potential oversupply risks as peak demand wanes. Despite minor rises earlier in the week, geopolitical tensions have not significantly impacted oil prices, leaving traders wary about future market strength.
Source: YAHOO
Reported 2 days ago
Tesla's CEO Elon Musk announced that the company's robotaxi service is set to expand to the San Francisco Bay Area within the next month or two, pending regulatory approvals. Following a limited rollout in Austin, Texas, Musk indicated that the expansion will depend on obtaining necessary permits from California authorities, which have stricter regulations compared to Texas. The success of the robotaxi service is seen as vital for Tesla's future amidst increasing competition and declining sales of its electric vehicles.
Source: YAHOO
Reported 2 days ago
Oil prices fell as investors reacted to U.S. President Trump's tariffs, raising concerns about their impact on global economic growth. Brent crude dropped by 0.8% to $69.66 a barrel, while U.S. West Texas Intermediate declined by 0.9% to $67.76. Trump's recent tariff threats to Brazil and others have led to a cautious market response. However, a weaker U.S. dollar and increased gasoline demand provided some support for oil prices.
Source: YAHOO
Reported 2 days ago
China's auto industry is facing severe financial strain due to overcapacity and a price war that has alarmed regulators and industry leaders. Key metrics have deteriorated, with average supplier payment periods lengthening and inventory levels soaring. New regulations aim to enforce quicker payments, but major firms like BYD, Nio, and Xpeng are still struggling with long payment cycles and negative margins despite some improvements. The sector's debt has surged, raising concerns about its long-term viability.
Source: YAHOO
Reported 2 days ago
UAE's G42 plans to collaborate with local companies to establish a $2 billion hyperscale data centre in Ho Chi Minh City, Vietnam's economic center, as reported by state media. Local partners include FPT Corp., VinaCapital, and Viet Thai Group. Authorities are awaiting the Prime Minister's input on the project, though no timeline has been provided.
Source: YAHOO
Reported 2 days ago
隨著即將到來的日本20年政府債券拍賣，市場對於收益率上升的擔憂愈發加劇，特別是在即將舉行的選舉中。分析師指出，由於執政的自由民主黨和其聯盟夥伴積極提供現金津貼以吸引選民，市場對於財政擴張的擔憂愈發增加。在此背景下，主要投資者可能會對拍賣的參與持謹慎態度。最新的拍賣結果將成為市場觀察的焦點，尤其是競標比率和價格的差異將揭示投資者的需求狀況。
Source: YAHOO
Reported 2 days ago
US stock markets showed mixed results on Thursday as the Dow gained 0.5% and the S&P 500 rose 0.1%, while the Nasdaq slipped 0.2% after hitting a record high. Investors reacted to President Trump's new tariff threats against Brazil, which could impose a 50% tariff on imports, alongside positive earnings reports from Delta Airlines that lifted airline stocks. Despite the tariff uncertainty, Nvidia achieved a historic market value exceeding $4 trillion, emphasizing ongoing interest in AI and technology sectors.
Source: YAHOO
Reported 2 days ago
Indonesia's recent meeting with US representatives focused on tariffs and the potential for a broader partnership in the critical minerals sector, with both nations viewing the talks as positive. Chief negotiator Airlangga Hartarto indicated the countries will continue discussions over the next three weeks, with Indonesia proposing to reduce tariffs on American products and enhance US investments, highlighting its significant reserves of key minerals such as nickel and cobalt.
Source: YAHOO
Reported 2 days ago
Microsoft shares reached a record high of approximately $503, with the tech giant's market capitalization nearing $4 trillion. The stock has shown a robust uptrend after a dip in early April, gaining in 12 of the past 14 weeks. Analysts project a bullish price target of around $565 and advise watching key support levels at $468 and $425 as the stock continues its upward momentum.
Source: YAHOO
Reported 2 days ago
A Chinese industry body has issued a warning about the risks of illegal fundraising tied to stablecoins as interest in cryptocurrencies surges. The Beijing Internet Finance Association cautioned that unscrupulous entities are enticing investors with schemes promising high returns, akin to Ponzi schemes. They highlighted the dangers of such activities potentially leading to financial crimes and urged investors to avoid unauthorized crypto projects.
Source: YAHOO
Reported 2 days ago
Global stocks, particularly in Asia, advanced on Thursday, buoyed by enthusiasm surrounding artificial intelligence and expectations of interest rate cuts, despite U.S. President Trump's proposed tariffs on copper and Brazil. While Trump's tariff announcements initially stirred concern, investors remained largely unfazed, as market reactions were milder compared to previous instances. Strong quarterly results from TSMC, alongside Nvidia becoming the first public company to reach a $4 trillion market value, contributed to the optimism, leading analysts to predict potential rate cuts by the Federal Reserve later this year.
Source: YAHOO
Reported 2 days ago
President Donald Trump announced a new 50% tariff on copper effective August 1, aiming to boost domestic production vital for industries like defense and electronics. This move, part of ongoing tariffs on various sectors, follows a national security assessment and could raise costs for American consumers. Major suppliers affected include Chile, Canada, and Mexico, which have claimed that their imports do not threaten U.S. interests. The U.S. currently relies on imports for nearly half of its refined copper needs.
Source: YAHOO
Reported 2 days ago
According to former top currency diplomat Masatsugu Asakawa, Japan is unlikely to face direct pressure from the U.S. to strengthen the yen, despite President Trump's criticisms regarding Japan's trade surplus. Asakawa highlighted that currency discussions between U.S. Treasury Secretary Bessent and Japanese Finance Minister Kato have not included specific currency targets. He emphasized that the notion of allowing finance leaders to manage currency matters is now embedded in U.S. policy, making a coordinated depreciation of the dollar unlikely.
Source: YAHOO
Reported 2 days ago
The U.S. dollar gained ground against major currencies, buoyed by investor optimism despite President Trump's tariff threats, particularly affecting the Brazilian real, which plummeted in response. As the tariff fears faded, Bitcoin surged to a new record high above $113,000, benefiting from increased institutional interest and favorable crypto policies. Market reactions included a rise in U.S. Treasury yields following positive jobless claims data, signaling a robust U.S. economy amidst global uncertainties.
Source: YAHOO
Reported 2 days ago
Former President Donald Trump has warned Brazil of imposing a hefty 50% tariff on imports starting August 1 unless the country halts its trial against former President Jair Bolsonaro, whom Trump claims is a victim of a 'witch hunt.' Brazilian President Luiz Inácio Lula da Silva responded firmly, asserting Brazil's sovereignty and vowing to retaliate against any unilateral tariff measures. This potential tariff comes amid a broader series of Trump-led tariff threats against various countries, all tied to trade agreements and policies he deems unfavorable.
Source: YAHOO
Reported 2 days ago
Cluely, an AI startup co-founded by Roy Lee, gained notoriety for its feature that purportedly allows users to 'cheat' undetected during online activities, including interviews. After Lee's suspension from Columbia University for bragging about using Cluely to cheat on a coding test, a rival product, Truely, was introduced to catch such cheaters. Nevertheless, Lee downplays the relevance of detection, stating that the invisibility feature isn't essential to Cluely’s offerings. The company has since shifted its marketing focus from promoting cheating to positioning itself as an alternative to ChatGPT, emphasizing its enhanced functionality.
Source: YAHOO
Reported 2 days ago
The U.S. Senate Banking Committee is discussing the regulation of digital assets, with Republicans advocating for a light-touch approach while Democrats express concerns over loopholes and conflicts of interest. The debate comes as the committee aims to finalize legislation before a September deadline, with focus on defining securities and preventing fraud in the crypto market.
Source: YAHOO
Reported 2 days ago
Donald Trump has threatened to increase tariffs on Brazilian goods to 50%, causing the Brazilian real to plummet and impacting the country's financial markets. This decision escalates tensions with Brazil amid political controversies, particularly involving former President Jair Bolsonaro. Brazilian President Luiz Inacio Lula da Silva responded firmly, asserting Brazil's sovereignty and indicating that the country would reciprocate such unilateral tariff hikes. The move threatens to strain long-standing U.S.-Brazil relations, potentially harming various Brazilian industries reliant on exports to the U.S.
Source: YAHOO
Reported 2 days ago
Microsoft's chief commercial officer revealed that AI tools have enabled the company to save over $500 million in productivity gains, especially in its call centers, just days after laying off 9,000 employees. This marks the company's third round of layoffs this year, totaling around 15,000 job losses. Althoff's comments, amidst record profits of $26 billion and a market cap of $3.74 trillion, have been met with criticism as affected workers face the repercussions of the layoffs while the company thrives economically.
Source: YAHOO
Reported 2 days ago
On July 10, key earnings reports from Delta, ConAgra, and Levi Strauss are expected, amid anticipation of falling profits for Delta due to weak demand. The Federal Reserve will provide fresh commentary from presidents Alberto Musalem and Mary Daly, following the release of May meeting minutes. Freddie Mac will publish mortgage rate data, showing a decline, while initial jobless claims are projected to rise slightly, indicating increased layoffs.
Source: YAHOO