Day: August 2, 2024
Tech stocks wrap up steepest three-week slump in two years, led by plunge in Amazon and Intel
Signage outside the Nasdaq MarketSite in New York on March 23, 2023. Stephanie Keith | Bloomberg | Getty Images With second-quarter earnings from tech’s mega-cap companies largely in the rearview mirror, one thing is clear: Wall Street is nervous. The Nasdaq slumped 3.4% this week, bringing its three-week slide to 8.8%. It’s the worst performance […]
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Eli Lilly’s Zepbound and Mounjaro now available in U.S. after shortages, FDA says
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. Brendan McDermid | Reuters All doses of Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now available in the U.S., according to an update on the U.S. Food and Drug […]
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Ex-Google engineers who founded Character.AI rejoin company with new AI partnership
Pavlo Gonchar | Lightrocket | Getty Images Founders of one of the hottest artificial intelligence startups Character.AI are rejoining Google along with other team members. Noam Shazeer and Daniel De Freitas, in addition to certain members of Character.AI’s research team, are joining Google’s AI unit DeepMind, the companies said Friday. Character.AI uses large language models […]
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Perspective: There’s typically one correction every year — and this could be it
A one-day market crush of this magnitude is unnerving for sure, especially on the back of the aggressive tech selling seen in July, but traders are trying to keep some perspective. The S & P 500 is down 5.7% from its all-time high following Friday’s losses, making this the second decline of greater than 5% […]
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Hunter Biden criminal gun case sentencing set for Nov. 13, after presidential election
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden arrive at the federal court during his trial on criminal gun charges in Wilmington, Delaware, U.S., June 5, 2024. Kevin Lamarque | Reuters Hunter Biden will be sentenced in his criminal gun case in Delaware eight days after the 2024 presidential […]
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Mortgage rates plunge to the lowest level in over a year after weak employment report
A “For Sale” sign in front of a home in Arlington, Virginia, on Aug. 22, 2023. Andrew Caballero-Reynolds | AFP | Getty Images The average rate on the popular 30-year fixed mortgage dropped 22 basis points to 6.4% Friday, according to Mortgage News Daily. That is the lowest rate since April 2023. The 15-year fixed […]
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Google pulls AI ad for Olympics following backlash
Google pulled an ad it showed during the Olympics which 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 […]
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Kamala Harris’ tax records reveal ‘fairly basic’ approach that may have missed savings, advisor says
U.S. Vice President Kamala Harris and second gentleman Douglas Emhoff descend from Air Force Two in Wilmington, DE, U.S., July 22, 2024. Erin Schaff | Via Reuters Vice President Kamala Harris’ personal financial records are under fresh scrutiny now that she is running for the highest office in the United States. Experts say recent tax […]
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Jeff Bezos’ family office is making big investments in AI
Jeff Bezos at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 10, 2024. David Grogan | CNBC A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your […]
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Delta CEO offers employees free flights after CrowdStrike-Microsoft chaos
Ed Bastian, chief executive officer of Delta Air Lines Inc., speaks during a keynote at CES 2020 in Las Vegas, Nevada, U.S., on Tuesday, Jan. 7, 2020. Bridget Bennett | Bloomberg | Getty Images Delta Air Lines CEO Ed Bastian on Friday offered employees two free travel passes to thank staff members who were caught […]
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