Day: September 27, 2024
Elon Musk’s X will be allowed back online in Brazil after paying one more fine
The Federal Supreme Court (STF) in Brazil suspends Elon Musk’s social network after it fails to comply with orders from Minister Alexandre de Moraes to block accounts of those being investigated by the Brazilian justice system. Cris Faga | Nurphoto | Getty Images X has to pay one last fine before the social network owned […]
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OpenAI sees roughly $5 billion loss this year on $3.7 billion in revenue
Sam Altman, CEO of OpenAI, at the Hope Global Forums annual meeting in Atlanta on Dec. 11, 2023. Dustin Chambers | Bloomberg | Getty Images OpenAI, the creator of ChatGPT, expects about $5 billion in losses on $3.7 billion in revenue this year, CNBC has confirmed. The company generated $300 million in revenue last month, […]
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WNBA viewership soars to new record, while attendance hits more than two-decade high
Indiana Fever guard Caitlin Clark, #22, drives to the basket against Atlanta Dream guard Destanni Henderson, #33, during a WNBA preseason game at Gainbridge Fieldhouse in Indianapolis, Indiana, on May 9, 2024. Brian Spurlock | Icon Sportswire | Getty Images The Women’s National Basketball Association’s viewership and attendance boomed during the 2024 season, as the […]
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EchoStar nears deal to sell Dish to DirecTV with $2 billion debt payment looming
Charlie Ergen, chairman and co-founder of Dish Network Corp. Jonathan Alcorn | Bloomberg | Getty Images Charlie Ergen is getting close to selling the pay-TV business he founded more than 40 years ago. EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, the closely held pay TV operator owned […]
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Volkswagen cuts 2024 outlook as car demand falters
A VW Golf GTI stands in a parking lot within sight of the brand tower on the grounds of the VW plant in Wolfsburg, Germany. Julian Stratenschulte| Picture Alliance | Getty Images Volkswagen cut its annual outlook for the second time in less than three months on Friday, citing a weaker-than-expected performance at its passenger car division as […]
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Morgan Stanley’s shopping list for commodity stocks to get a boost from China stimulus
These commodity stocks could win big as China moves to boost its struggling real estate sector and economy, according to Morgan Stanley. The picks from the investment firm come after China’s central bank laid out plans to support a lagging housing market and said it would slash the amount of cash needed on reserve for […]
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Trump calls for prosecution of Google over search results he says favor Harris
Republican presidential nominee and former U.S. President Donald Trump speaks to the press at Trump Tower in New York City, U.S., September 26, 2024. REUTERS/David Dee Delgado David Dee Delgado | Reuters Donald Trump on Friday called for Google to be criminally prosecuted for what the Republican presidential nominee called the company’s bias toward his […]
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Trump Media stock jumps in heavy trading after co-founders dump DJT shares
Omar Marques | Lightrocket | Getty Images Shares of Trump Media were trading more than 6% higher as of 2 p.m. ET on Friday after major shareholder United Atlantic Ventures, LLC, sold nearly 11 million of their shares in the company Thursday. UAV, an investment partnership of former “Apprentice” contestants Andrew Litinsky and Wes Moss, […]
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Wall Street braces for a turbulent October with jobs report on deck next week
It’s going to be hard to count on another strong month for stocks after September’s performance. The final month of the third quarter has been surprisingly good for investors. Often regarded as the weakest month of the year for stocks, the major market averages were on track as of Friday to close it out with […]
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Today’s market is a ‘bubble dream’ with rate cuts, China inflating economy, Bank of America says
Massive stimulus from central banks in the U.S., China and elsewhere is driving bubble-like stock returns and could head off a global recession, according to Bank of America. “It’s the bubble dream,” BofA chief investment strategist Michael Hartnett wrote in his weekly “Flow Show” breakdown of where investors are putting their money. “Fed slashing, oil […]
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