Business

2024-08-03

Intel share plunge drags down global chip stocks from TSMC to Samsung

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Pat Gelsinger, chief executive officer of Intel Corp., speaks during the Computex conference in Taipei, Taiwan, on Monday, June 4, 2024. Gelsinger took the stage at the Computex show in Taiwan to talk about new products he expects will help turn back the tide of share losses to peers, including AI leader Nvidia Corp. Photographer: Annabelle Chih/Bloomberg via Getty Images Bloomberg…

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2024-08-03

Strategists urge caution on buying the dip

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Traders work on the floor of the New York Stock Exchange during morning trading on July 31, 2024 in New York City.  Michael M. Santiago | Getty Images News | Getty Images Strategists on Friday urged investors to take a cautious approach to a global stock market sell-off, warning it may be too early to buy the dip given…

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2024-08-03

Amazon says distraction of Olympics, Trump shooting hit weak guidance

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Andy Jassy, chief executive officer of Amazon.Com Inc., speaks during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021. David Ryder | Bloomberg | Getty Images Amazon is pointing to an unusually busy news cycle as one of the drivers behind its weak revenue forecast. On a call with reporters following the company’s second-quarter earnings report…

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2024-08-02

How Russian hackers stole millions from U.S. investors

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WASHINGTON — The White House announced a massive, multinational prisoner swap Thursday between the United States, Russia and other nations. As part of the historic deal, the Russian government released high-profile Americans held in captivity there, including Wall Street Journal reporter Evan Gershkovich, who had been in a Russian prison for more than a year.  Also included in the…

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2024-08-02

Apple (AAPL) earnings report Q3 2024

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Apple CEO Tim Cook attends the annual developer conference event at the company’s headquarters in Cupertino, California, U.S., June 10, 2024. Carlos Barria | Reuters Apple reported fiscal third-quarter earnings on Thursday that beat Wall Street expectations, with overall revenue rising 5%.   Apple shares were flat in extended trading. Here’s how Apple did versus LSEG consensus estimates for…

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2024-08-02

Here’s what it means for U.S. tech firms

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The European Union’s landmark artificial intelligence law officially enters into force Thursday — and it means tough changes for American technology giants. The AI Act, a landmark rule that aims to govern the way companies develop, use and apply AI, was given final approval by EU member states, lawmakers, and the European Commission — the executive body of the…

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2024-08-02

Investors weigh interest rate outlook

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Traders work on the floor of the New York Stock Exchange on July 24, 2024. Spencer Platt | Getty Images Treasury yields fell Thursday as investors digested comments from Federal Reserve Chair Jerome Powell, who suggested a September rate cut was on the table, along with a jump in U.S. jobless claims. The benchmark 10-year Treasury yield traded at…

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2024-08-01

Fed holds rates steady and notes progress on inflation

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WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit with progress. They…

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2024-08-01

Boeing taps Kelly Ortberg as new CEO to replace Dave Calhoun

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Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company’s production facility in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. Daniel Acker | Bloomberg | Getty Images Boeing has named Robert “Kelly” Ortberg to replace CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer struggles to…

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