Tag: business news

2024-08-05

Trump White House officials endorse Kamala Harris

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Business

US Vice President Kamala Harris speaks at a moderated conversation with former Trump administration national security official Olivia Troye and former Republican voter Amanda Stratton on July 17, 2024 in Kalamazoo, Michigan. Chris Dumond | Getty Images News | Getty Images Vice President Kamala Harris’ campaign on Sunday flaunted over two dozen presidential endorsements from Republican party members, including…

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2024-08-05

Berkshire Hathaway earnings 2024 Q2

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Business

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.  David A. Grogan Berkshire Hathaway‘s cash pile swelled to a record $276.9 billion last quarter as Warren Buffett sold big chunks in stock holdings including Apple. The Omaha-based conglomerate’s cash hoard jumped significantly higher from the previous…

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2024-08-05

Tech stocks see steep three-week slump, led by Amazon, Intel

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Business

Signage outside the Nasdaq MarketSite in New York on March 23, 2023. Stephanie Keith | Bloomberg | Getty Images With quarterly earnings from tech’s mega-cap companies largely in the rearview mirror, one thing is clear: Wall Street is nervous. The Nasdaq Composite slumped 3.4% this week, bringing its three-week slide to 8.8%. That’s the worst performance for the tech-heavy…

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2024-08-04

Google pulls AI ad for Olympics following backlash

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Business

Google pulled an ad it showed during the Olympics that touted its AI chatbot Gemini writing a fan letter to an athlete. Google has pulled an Olympics ad for its chatbot Gemini from airwaves following backlash for the way it depicts a little girl using artificial intelligence to write a fan letter. The ad, titled “Dear Sydney,” showed a…

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2024-08-04

Kamala Harris raised $310 million for Trump election contest

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Business

Vice President Kamala Harris speaks at a campaign event in Atlanta on July 30, 2024. Elijah Nouvelage | Afp | Getty Images The presidential campaign of Vice President Kamala Harris said Friday that its political operation raised $310 million in July, dwarfing the tally raised for the Republican nominee Donald Trump in the same month. Harris’ team raised the…

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2024-08-04

Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

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Business

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged…

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2024-08-04

Microsoft touts cloud momentum from Y Combinator startups

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Business

EzDubs founders Amrutavarsh Kinagi (left), Kareem Nassar and Padmanabhan Krishnamurthy pose for a photo in Palo Alto, California, in August 2023. EzDubs, a developer of language-translation technology, got started the way many tech startups get off the ground. It launched on public clouds from Amazon and Google. However, after EzDubs went through the Y Combinator startup program last year,…

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2024-08-03

How Japan’s yen could be ripping through U.S. stocks

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Business

A man walks past an electronic quotation board displaying the exchange rate for the Japanese yen against the US dollar in Tokyo on August 2, 2024 Kazuhiro Nogi | Afp | Getty Images The key driver of global markets is the yen exchange rate, according to one financial historian, who warned the trend should concern those “entirely focused on…

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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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Business

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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