By Laura Matthews NEW YORK (Reuters) – A shift to shorter settlement for U.S. securities transactions earlier this year had a greater-than-anticipated impact on market participants across the board, with Europe reporting the greatest hit, a Citigroup survey showed. The U.S. sped up its settlement cycle in May, requiring that equities, corporate and municipal bonds…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against most major currencies on Wednesday after July U.S. job openings data signaled a softening labor market, tilting the odds further in favor of larger interest rate cuts by the Federal Reserve. Traders boosted bets that the Fed will deliver a half-a-percentage-point reduction at its…
By Kenrick Cai, Krystal Hu, Anna Tong SAN FRANCISCO/NEW YORK -Safe Superintelligence (SSI), newly co-founded by OpenAI’s former chief scientist Ilya Sutskever, has raised $1 billion in cash to help develop safe artificial intelligence systems that far surpass human capabilities, company executives told Reuters. SSI, which currently has 10 employees, plans to use the funds…
By Jeff Mason WASHINGTON (Reuters) -U.S. President Joe Biden is preparing to block Nippon Steel’s acquisition of U.S. Steel, a source said on Wednesday. The move by Biden would deal a blow to the proposed $14.9 billion deal. The president has previously expressed concern over Nippon’s deal to buy the 122-year-old iconic U.S. steelmaker. U.S….
By Yoruk Bahceli and Tom Westbrook (Reuters) – World stocks steadied on Tuesday and the dollar remained near a two-week high as investors turned cautious awaiting a raft of economic data that may determine how deeply the U.S. will cut interest rates. Focus was on the U.S. ISM manufacturing activity survey due later in the…
By Ricardo Brito and Luciana Magalhaes BRASILIA/SAO PAULO (Reuters) -Tensions between Brazil and Elon Musk’s business empire ratcheted up further as the country’s telecoms regulator threatened to sanction his satellite broadband company Starlink hours after its top court stood behind a controversial decision to ban social network X from the country. Brazil’s President Luiz Inacio Lula da…
(Reuters) – Artificial intelligence could hurt oil prices over the next decade by boosting supply by potentially reducing costs via improved logistics and increasing the amount of profitably recoverable resources, Goldman Sachs said on Tuesday. WHY IT’S IMPORTANT The impact of AI on energy and metals has mostly focused on the demand side given the…
By Noel Randewich (Reuters) – Shares of AI heavyweight Nvidia tumbled on Tuesday, with Wall Street’s chip index slumping 7% as investors softened their optimism about AI in a broad market sell-off following tepid economic data. Nvidia, viewed as Wall Street’s biggest winner in a race to dominate emerging AI technology, dropped over 8%, while…
(Reuters) – TikTok-owner ByteDance is tapping banks for a $9.5 billion loan that would be the biggest dollar-denominated corporate facility in Asia ex-Japan, two sources with knowledge of the matter said on Monday. Citigroup, Goldman Sachs and JPMorgan are the coordinators of the financing, which carries a tenor of three years and can be extended…
TAIPEI (Reuters) – Former U.S. President Donald Trump “has a lot on his plate” and misunderstands Taiwan’s role in the semiconductor industry, possibly because others have misinformed him, the island’s Economy Minister Kuo Jyh-huei said on Monday. Trump, the Republic nominee in November’s presidential election, unnerved democratically governed Taiwan, which is claimed by China, by…
