Month: August 2024
Elon Musk’s X AI shared false election information after Biden dropped out, officials say
Muhammed Selim Korkutata | Anadolu | Getty Images Five secretaries of state on Monday urged Elon Musk to fix his social media platform X’s artificial intelligence search assistant after it allegedly shared false information about the 2024 presidential election. The secretaries in a letter to Musk said that X’s AI chatbot Grok misled users about […]
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I’m prepared to ‘start buying Japan,’ Monex Group’s Jesper Koll says despite major stock sell-off
Monex Group’s Jesper Koll says he is prepared to “start buying Japan” on the back of fundamentals still being “solid” in the country, even as Japanese markets on Monday experienced a major stock-sell off. Earnings may be revised downwards due to the movement of the Japanese yen, but there have been improvements in corporate governance, […]
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Everyone is talking about the Sahm recession indicator. Here’s what you need to know
Global stock markets are in the grip of a deepening rout, prompting investors to turn to one of the most historically accurate indicators to determine whether the U.S. economy is in recession. The so-called “Sahm rule” has observed without fail that the initial phase of a recession has started when the three-month moving average of […]
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UK’s Starmer to hold emergency meeting as riots intensify
PA Video grab of Prime Minister Sir Keir Starmer filming a broadcast clip in Downing Street, central London. The Prime Minister vowed to “ramp up criminal justice” after an emergency Cobra meeting was called in the wake of a sixth day of disorder which saw rioters storm hotels housing asylum seekers. Picture date: Monday August […]
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$1 trillion wipeout: Market rout punishes mega-cap tech
Traders work on the floor of the New York Stock Exchange during morning trading on July 31, 2024. Michael M. Santiago | Getty Images As U.S. markets opened for trading on Monday, tech’s mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia […]
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Investors are unwinding the biggest ‘carry trade’ the world has ever seen, SocGen strategist says
A pedestrian walks past a display board showing the morning numbers on the Tokyo Stock Exchange along a street in Tokyo on August 5, 2024. Richard A. Brooks | Afp | Getty Images A rapid unloading of “carry trades” extended on Monday, with market participants seeking to roll back on the popular strategy amid a […]
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SoftBank shares tank near 19%, wiping off $4.6 billion from founder Masayoshi Son’s fortune
Masayoshi Son, CEO of SoftBank, speaks during the company’s annual general meeting in Tokyo on June 20, 2024. Kosuke Okahara | Bloomberg | Getty Images SoftBank Group shares tanked nearly 19% on Monday amid a global sell-off, wiping off billions of dollars from founder Masayoshi Son’s fortune. Shares of the Japanese giant, known as one […]
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Chicago Fed President Goolsbee says if economy deteriorates, Fed will ‘fix it’
Key Points Chicago Federal Reserve President Austan Goolsbee said Monday on CNBC that the central bank would react to signs of weakness in the economy. “I’m not going to bind our hands of what should happen going forward because we’re still going to get more information. But if we are not overheating, we should not […]
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Apple shares drop 7% after Warren Buffett’s Berkshire Hathaway slashes stake by half
In this article AAPL BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. David A. Grogen | CNBC Warren Buffett sent shockwaves through the investing world over the weekend by slashing his big Apple stake by half, […]
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Elon Musk revives lawsuit against OpenAI, Sam Altman in federal court
In this photo illustration, the logo of ‘OpenAI’ is displayed on a mobile phone screen in front of a computer screen displaying the photographs of Elon Musk and Sam Altman in Ankara, Turkiye on March 14, 2024. Muhammed Selim Korkutata | Anadolu | Getty Images Elon Musk has revived a lawsuit against Sam Altman in […]
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