Day: September 16, 2024
India’s central bank chief plays down fears of a deposit crunch
Despite widespread bullishness on India, with its stock market highs and healthy bank balance sheets, a shortage of deposits is causing some uneasiness in the country’s financial sector. Speaking to CNBC in an exclusive interview, Reserve Bank of India (RBI) Governor Shaktikanta Das discussed the issue of slowing growth in bank deposits underperforming an expansion […]
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Looking for tech stocks? CIO names 3 to buy — and says Nvidia is still ‘reasonably valued’
Tech stocks may have had a volatile past few weeks , but one chief investment officer is still bullish. Albion Financial Group’s Jason Ware says that’s thanks in part to the capital expenditure of large tech companies like Amazon , Microsoft , Nvidia and Alphabet ‘s Google that’s “providing a bit of growth support as […]
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Cooling needs and more: Jefferies names global stocks to buy driven by AI data center demand
Tech companies have been capitalizing on the artificial intelligence boom, driving the development of products and services in that area. That also means that AI data centers are growing fast — as is the demand for them. Data centers house vast amounts of computing power needed for AI workloads. That in turn is set to […]
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Biden administration awards Intel up to $3 billion under the CHIPS Act
Intel CEO Pat Gelsinger delivers a speech at Taipei Nangang Exhibition Center during Computex 2024, in Taipei on June 4, 2024. I-Hwa Cheng | AFP | Getty Images The Biden administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the “Secure Enclave” program, which is designed […]
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Ohio GOP Gov. DeWine says ‘at least 33’ bomb threats prompt Springfield to begin daily school sweeps
People watch as Springfield Police Department officers investigate the Springfield City Hall after bomb threats were made against buildings earlier in the day in Springfield, Ohio on September 12, 2024. Roberto Schmidt | AFP | Getty Images Ohio state police will conduct daily sweeps of schools in Springfield after authorities have been forced to investigate […]
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OpenAI announces new independent board oversight committee focused on safety
OpenAI CEO Sam Altman speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. Jason Redmond | AFP | Getty Images OpenAI on Monday said its Safety and Security Committee, which the company introduced in May as it dealt with controversy over security processes, will become an independent board […]
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Don’t expect much from stocks for the next decade, says JPMorgan
As investors are navigating all the buzz about this week’s potential rate cut and the upcoming presidential election, JPMorgan is forecasting a serious risk to long-term stock returns. The market appears to be too expensive relative to history, according to the firm, which is projecting a 5.7% annual return from the S & P 500 […]
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Intel stock jumps on plan to turn foundry business into subsidiary and allow for outside funding
Intel CEO Pat Gelsinger holds a sample of a wafer during his keynote speech at the Computex conference in Taipei on June 4, 2024. I-hwa Cheng | AFP | Getty Images Intel shares jumped 8% in extended trading on Monday after the company said it plans to turn its foundry business into an independent unit […]
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UAW union files unfair labor charges against Stellantis, accuses automaker of violating contract
United Automobile Workers (UAW) President Shawn Fain speaks on the first day of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, on August 19, 2024. Mandel Ngan | AFP | Getty Images DETROIT — The United Auto Workers union on Monday said it had filed federal unfair labor practice charges against […]
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In federal trial, Michael Kors says it’s harder to sell handbags in TikTok and Taylor Swift era
NEW YORK CITY — In a federal courtroom on Monday, storied fashion designer Michael Kors spoke about the steep challenge of staying relevant in a world where brands can rise and fall based on viral TikTok videos and photos of handbags on the arms of celebrities such as Taylor Swift and Beyoncé. Kors kicked off […]
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