Month: November 2024
Baidu posts 3% drop in third-quarter revenues, beating market expectations
Key Points Chinese tech company Baidu on Thursday reported better-than-expected revenue and profit for the third quarter. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Source
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Morgan Stanley CEO is bullish on stocks, says the U.S. economy is ‘outperforming’
Morgan Stanley CEO Ted Pick on Thursday expressed optimism about the stock market, saying that the U.S. economy will continue to outperform in 2025. “The world is still led by the U.S. consumer,” Pick told CNBC’s “Squawk Box Asia” from the Morgan Stanley summit in Singapore. “Corporate balance sheets in the U.S. are on aggregate, […]
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Adani vs. Hindenburg: How one of India’s biggest empires descended into chaos
Hindenburg Research website displayed on a laptop screen and Adani logo displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on February 2, 2023. Nurphoto | Nurphoto | Getty Images Gautam Adani, the billionaire chairman of India’s Adani Group, was indicted on Wednesday along with seven others in New […]
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Adani investor GQG Partners’ shares see worst day after Gautam Adani’s indictment
Rajiv Jain, founder and chief investment officer of GQG Partners, during an interview in New York, US, on Tuesday, April 4, 2023. Christopher Goodney | Bloomberg | Getty Images Shares of Australia-listed GQG Partners plunged on Thursday to post their worst day on record, after Adani Group Chair Gautam Adani was charged with fraud in […]
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Adani Group slams ‘baseless’ New York fraud and bribery charges
Gautam Adani, chairman of Adani Group, speaks during the Forbes CEO Summit in Singapore, on Tuesday, Sept. 27, 2022. India needs fossil fuels to serve large populations and getting rid of all fossil fuels instantly would not work for the nation, Adani said. Photographer: Edwin Koo/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images […]
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CNBC Daily Open: Could Nvidia’s greatest obstacle be itself?
There’s a concept called the “hedonic treadmill,” which theorizes as people achieve success, their expectations rise. Nvidia seems a victim of this. Source
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British regulators will soon announce competition remedies for the multibillion-pound cloud industry
Ofcom said it received evidence showing Microsoft makes it less attractive for customers to run its Office productivity apps on cloud infrastructure other than Microsoft Azure. Igor Golovniov | Sopa Images | Lightrocket via Getty Images LONDON — Britain’s competition regulator is preparing remedies aimed at solving competition issues in the multibillion-pound cloud computing industry. […]
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European stocks head for slightly higher open amid subdued market sentiment
Asian chip stocks slump as Nvidia’s slowing revenue growth worries investors Asian semiconductor-related stocks mostly slumped on Thursday after Nvidia reported an earnings forecast that failed to meet the lofty expectations of some investors. While Nvidia’s third-quarter results exceeded analysts’ expectations and delivered a strong forecast for the current quarter, its shares still shed 2.5% in extended trading to roughly $142.20 […]
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Bitcoin climbs, reaching a new all-time high above $97,000
Bitcoin breached the $95,000 level for the first time Wednesday evening as investors continued pricing in a second Donald Trump presidency. The price of the flagship cryptocurrency was last higher by more than 3% at $97,646.68, according to Coin Metrics. Earlier, it rose as high as $97,788.00. Shares of MicroStrategy, a bitcoin proxy, gained 3% […]
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DOJ pushes for Google to break off Chrome browser after antitrust case
U.S. Assistant Attorney General Jonathan Kanter speaks about the antitrust lawsuit against Live Nation Entertainment during a press conference as Attorney General Merrick Garland and Deputy Attorney General Lisa O. Monaco look on during a press conference at the Department of Justice in Washington, U.S., May 23, 2024. REUTERS/Ken Cedeno Ken Cedeno | Reuters The […]
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