World
OpenAI gets $4 billion revolving credit line, giving it more than $10 billion in liquidity
OpenAI has a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion, CNBC has learned. It follows news on Wednesday that OpenAI closed its recent funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big […]
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Sterling plunges more than 1% against the dollar, euro after Bank of England governor’s comments on rates
Andrew Bailey, Governor of the Bank of England, gestures as he addresses the media during a press conference at the Bank of England in London on Aug. 1, 2024. Alberto Pezzali | Via Reuters LONDON — The British pound tumbled more than 1% against the U.S. dollar and euro on Thursday after Bank of England […]
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Oil market faces a rude awakening if Iran’s energy infrastructure is targeted, analysts say
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Anadolu | Anadolu | Getty Images Oil markets are being too complacent given the risk of major supply disruptions in the Middle East, […]
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Tesla to recall over 27,000 Cybertruck vehicles over rear-view image delay
New Tesla Cybertruck vehicles parked at a logistics drop zone in Seattle, Washington, US, on Thursday, Aug. 22, 2024. M. Scott Brauer | Bloomberg | Getty Images Tesla said on Thursday it would recall most Cybertrucks in the U.S. due to delayed rear-view camera images that could impair driver visibility and increase crash risks, adding […]
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UK house sales rise at fastest pace since Covid-19 boom as lower mortgage rates spur activity
A pedestrians looks at residential properties displayed for sale in the window of an estate agents’ in Windsor, west of London. Justin Tallis | Afp | Getty Images LONDON — Lower mortgage rates are sparking an uptick in the U.K. housing market, with home sales last month rising at the fastest pace since the post-lockdown […]
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Auto giants are getting nervous about the prospect of mega fines as EV demand falters
Workers producing pure electric vehicles at a Volkswagen (Anhui) workshop in Hefei, China, on Sept. 25, 2024. Cfoto | Future Publishing | Getty Images Europe’s top car giants appear to be increasingly concerned about the prospect of massive fines, particularly as electric vehicle demand falters ahead of the next tightening of carbon regulations. Automakers operating […]
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CNBC Daily Open: Buffeted by Middle East, propelled by China
Customers at a restaurants on Nanjing East Road in Shanghai, China, on Wednesday, Oct. 2, 2024. Qilai Shen | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like […]
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U.S. bans Chinese firms in Uyghur region as Beijing fights forced labor claims
U.S. Department of Homeland Security emblem. Gwengoat | Istock | Getty Images The U.S. has added two new Chinese companies to a Xinjiang trade blacklist over forced labor accusations. The move comes just one week after Beijing retaliated against claims of human rights violations in the region and related “discriminatory measures” from American companies. The […]
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Japan still expected to stick to hiking cycle despite PM Ishiba’s dovish turn
Japanese 10,000 yen banknotes arranged in Tokyo, Japan, on Saturday, Oct. 7, 2023. Shoko Takayasu, Bloomberg | Bloomberg | Getty Images Despite dovish comments from Japanese Prime Minister Shigeru Ishiba leading to a sharp plunge in the yen, market analysts aren’t budging from their Bank of Japan policy expectations for the longer term. The yen […]
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Philippines levies 12% VAT tax on digital services by Amazon, Netflix and Disney
Chesnot | Getty Images News | Getty Images The Philippines will impose a 12% value-added tax on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that will level the playing field with domestic brick and mortar players, the internal revenue agency said on Thursday. President Ferdinand Marcos Jr signed into law on Wednesday the imposition of VAT on non-resident digital service providers […]
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