Month: September 2024
German media empire Axel Springer to split in deal with KKR
Passers-by walk in front of the main entrance to the Axel Springer high-rise. Carsten Koall | Picture Alliance | Getty Images German media empire Axel Springer will be split in two under a deal between CEO Mathias Doepfner and private equity firm, the company said on Thursday, securing the billionaire chief executive’s control over news […]
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One of London’s most popular arts attractions is crumbling and needs a $200 million fix
The exterior of the Hayward Gallery, part of the Southbank Centre. The brutalist-style building was designed by a team led by Norman Engleback in the late 1960s. Universal Images Group | Getty Images LONDON — From Michelle Obama to Anish Kapoor and Tracey Emin to Nina Simone, London’s Southbank Centre has featured them all, and […]
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China’s Alibaba launches over 100 new open-source AI models, releases text-to-video generation tool
The Alibaba office building is seen in Nanjing, Jiangsu province, China, Aug 28, 2024. CFOTO | Future Publishing | Getty Images Alibaba on Thursday released more than 100 open-source artificial intelligence models and boosted the capabilities of its proprietary technology as it looks to ramp up competition with rivals. The newly-released models, known as Qwen […]
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‘Fertile hunting ground’: Portfolio manager names 9 stocks to cash in on India’s growth
India is becoming a hot market for investment thanks to its booming economy, stable currency, strong stock market and growing working age population. Franklin Templeton’s Yi Ping Liao describes the South Asian country as “a fertile hunting ground to identify stocks.” “India has much more stable sort of macro environment compared to other emerging market […]
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CNBC Daily Open: Markets need time to digest the 50-point cut
Federal Reserve Chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC […]
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Hong Kong central bank cuts interest rate, tracks Fed move
People wearing face masks walk by the Hong Kong Monetary Authority on March 4, 2020 in Hong Kong. The Hong Kong Monetary Authority bought HK$1.586 billion ($202 million) from the market on Thursday to stop the local currency weakening and breaking its peg to the U.S. dollar, the de-facto central bank’s first intervention in 18 […]
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Billionaire tech CEO says bosses shouldn’t ‘BS’ employees about the impact AI will have on jobs
Demaerre | Istock | Getty Images Corporate leaders can’t “bulls—” their employees about the impact of artificial intelligence on the workforce and the ways in which the technology will affect jobs more broadly, according to one tech billionaire. Jim Kavanaugh, the CEO of World Wide Technology (WWT), told CNBC that people are “too smart” to […]
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China would love a domestic Nvidia rival — but that’s proving quite the challenge
The flags of China and the USA are being displayed on a smartphone, with an NVIDIA chip visible in the background. Raa | Nurphoto | Getty Images Chinese companies are ramping up efforts to produce a viable alternative to Nvidia’s chips that power artificial intelligence as Beijing continues its efforts to wean itself off American […]
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What buying Commerzbank would mean for UniCredit — and the banking sector
Key Points Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. UniCredit continues to surprise markets with some stellar quarterly profit beats. It earned 8.6 billion euros last year (up 54% year-on-year), also pleasing investors via share buybacks and dividends. Analysts are hoping […]
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Indian public sector firm NTPC’s green energy arm files for $1.2 billion IPO
This photograph taken on April 6, 2022, shows a general view of the National Thermal Power Corporation (NTPC) plant in Dadri. The mounds of jet-black coal shimmering under the afternoon sun at the Dadri power plant are a raw illustration of India’s coal dependence — a habit that despite increasing pressure, the country is finding […]
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