Month: October 2024
French budget surprises with focus on tax hikes as analysts warn of ratings downgrades
France’s newly-installed government on Thursday presented a draft budget containing 60 billion euros ($65.6 billion) in tax hikes and spending cuts, as analysts warned the package may not be enough to stave off ratings downgrades for the economy. The 2025 budget features a greater focus on tax-raising measures than some were expecting. Analysts also flagged […]
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Saudi sovereign wealth fund allocates $5.2 billion in green bonds project amid diversification push
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM Saudi Arabia’s Public Investment Fund (PIF) has allocated $5.2 billion out of $8.5 billion raised through green bonds to projects as of June 2024, according to its Allocation and Impact Report released on Friday. This allocation figure is up from $1.3 billion […]
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Cerebras IPO has ‘too much hair’ as AI chipmaker tries to sell Wall Street on Nvidia alternative
Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024. Ramsey Cardy | Sportsfile | Collision | Getty Images AI chipmaker Cerebras is trying to be the first major venture-backed tech company to go public in the U.S. since April and to capitalize on investors’ insatiable […]
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Jamie Dimon says geopolitical risks are surging: ‘Conditions are treacherous and getting worse’
Key Points JPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East and with Russia’s invasion of Ukraine showing no signs of abating. “We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse,” Dimon said […]
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Stocks making the biggest moves premarket: Wells Fargo, JPMorgan, Tesla, Stellantis and more
Check out the companies making headlines in premarket trading. Wells Fargo — Shares of the San Francisco-based lender rose 3%, helped by better-than-expected earnings. Adjusted earnings came in at $1.52 per share, above the consensus estimate of $1.28 based on a survey of analysts by LSEG. However, the bank’s revenue of $20.37 billion came in […]
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Pharmacy deserts are appearing across U.S. as drug stores closures spread
A shuttered Rite Aid store in New Lebanon, Ohio. Kevin Williams New Lebanon, Ohio, population 3,756, has three dollar stores, a Groceryland grocery store, a few fast-food restaurants, a public library branch, and a spirit-filled school system. What it doesn’t have is a pharmacy. As part of Rite Aid’s bankruptcy filing in October 2023, the chain announced […]
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Wells Fargo posts lower earnings and revenue amid an 11% decline in net interest income
watch now VIDEO1:5901:59 Wells Fargo posts lower earnings and revenue amid an 11% decline in net interest income Squawk Box Wells Fargo reported lower earnings and revenue for the third quarter than a year ago on Friday amid a sizable decline in net interest income. Here’s what the bank did compared with Wall Street estimates, […]
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Nvidia-backed CoreWeave gets $650 million credit line from top Wall Street banks
In this photo illustration, a Core Weave logo is displayed on a smartphone with stock market percentages on the background. Omar Marques | SOPA Images | Lightrocket | Getty Images CoreWeave, an Nvidia-backed artificial intelligence startup that rents out chips to other companies, announced Friday that it has a new $650 million credit line to […]
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Stock futures are flat as traders await inflation reading, evaluate bank earnings: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on January 11, 2024 in New York City. Angela Weiss | AFP | Getty Images Stock futures were little changed on Friday morning, as investors looked ahead to a wholesale inflation reading. JPMorgan Chase shares rose as the bank kicked […]
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Jeff Shell is about to lead Paramount. He may have runway to make bold changes he couldn’t at NBC
Jeff Shell, CEO of NBCUniversal, speaks during a conference at the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. Eric Gaillard | Reuters Less than two years after NBCUniversal fired Jeff Shell for alleged sexual harassment, the former CEO is close to finding himself back in the saddle leading a storied […]
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