Day: September 26, 2024
Asia-Pacific markets set to extend gains amid China stimulus optimism; Hong Kong to rise 3% on open
Crimson clouds light up the skyline of Victoria Harbour on July 14, 2022 in Hong Kong, China. Li Zhihua | China News Service | Getty Images Asia-Pacific markets were set to rise Friday, with Chinese stocks likely capping off a week of gains on the back of Beijing’s stimulus measures aimed at boosting the economy. […]
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Morgan Stanley raises its price target for a Chinese tech giant it calls a ‘safe haven’
Of all Chinese internet stocks, one company has the “best risk-reward” for investors, Morgan Stanley says. That’s tech giant Tencent, according to the bank. The company has games, online advertising businesses and also owns chat app WeChat, among other units. It called Tencent a “safe haven” and named it its top pick in this sector. […]
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Sam Altman tells OpenAI staff there’s no plan for him to receive ‘giant equity stake’ in company
At an all-hands meeting on Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling that information “just not true,” according to a person who was in attendance. Altman and finance chief Sarah Friar both said at the meeting, conducted by video, that […]
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FDA approves Bristol Myers Squibb’s schizophrenia drug, the first new type of treatment in decades
Bristol Myers Squibb’s Cobenfy drug Courtesy: Bristol Myers Squibb The Food and Drug Administration on Thursday approved Bristol Myers Squibb‘s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades. Schizophrenia affects how a person thinks, feels and behaves, and can cause paranoia, […]
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Stock futures are little changed as traders brace for Fed’s preferred inflation reading: Live updates
Traders work on the floor of the NYSE. NYSE Stock futures traded near the flatline Thursday night as Wall Street awaits a key inflation reading. Futures tied to the Dow Jones Industrial Average were little changed, as were S&P 500 futures. Nasdaq 100 futures ticked higher by less than 0.1%. In after-hours action, Costco Wholesale […]
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Eric Adams federal probe hones in on little-known Turkish businessman
Federal prosecutors have honed in on ties between New York City Mayor Eric Adams and little-known Turkish businessman Enver Yucel, CNBC has learned from the indictment and other public records, including campaign finance documents. A federal indictment unsealed on Thursday describes a 2021 campaign fundraising scheme involving Adams, his team and a person only identified in the […]
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Trump ally Matt Gaetz says House Ethics panel issued subpoena for him in sex, drug probe
Rep. Matt Gaetz, R-Fla., leaves the U.S. Capitol after the House voted on the Spending Reduction and Border Security Act, Sept. 29, 2023. The measure failed to pass. Tom Williams | CQ-Roll Call, Inc. | Getty Images Rep. Matt Gaetz said Thursday that he has learned the House Ethics Committee will subpoena him as it […]
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Trump Media shareholder UAV dumped more than 7.5 million shares
The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker “DJT”, in New York City, U.S., March 26, 2024. Shannon Stapleton | Reuters United Atlantic Ventures LLC, a major shareholder in Trump Media, has sold or otherwise gotten rid of […]
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The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?
Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC. Anna Moneymaker | Getty Images News | Getty Images With its larger-than-normal cut last week, the Federal Reserve sent a clear message that interest rates are heading considerably lower in the future. The Treasury market, though, hasn’t been paying […]
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Conservative outlet Newsmax settles with Smartmatic in 2020 election defamation case
News anchors work at Newsmax’s booth during the second day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024. Patrick T. Fallon | Afp | Getty Images A settlement has been reached in a defamation lawsuit pitting an electronic voting machine manufacturer targeted by allies of former President […]
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