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…
BEIJING (Reuters) – Sales of U.S. automaker Tesla’s China-made electric vehicles grew 3% in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Monday. Deliveries of China-made Model 3 and Model Y vehicles rose 17% from the previous month. Chinese rival BYD, with its Dynasty and Ocean series of…
(Reuters) – Market values of major tech firms declined in August amid concerns over escalating artificial intelligence infrastructure costs and rising recession risks that would make the stocks particularly vulnerable during a market correction. Last month, Alphabet Inc’s lost 4.7% of its market value as a slowdown in YouTube’s advertising sales fuelled concerns about its…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Friday that billionaire Elon Musk must respect the rulings of the country’s Supreme Court, amid an ongoing feud that left social media giant X on the brink of being taken down in Brazil. X was still working normally in Brazil on Friday…
(Reuters) -The U.S. Food and Drug Administration granted expanded approval to Emergent BioSolutions’ smallpox vaccine for use by people at high risk of mpox infection, sending the drugmaker’s shares surging 20% before the bell on Friday. The FDA clearance, announced late Thursday by the company, makes the vaccine, called ACAM2000, the second approved shot against…
