HSBC Holdings PLC
HSBC exec says there’s a lot of AI ‘success theater’ happening in finance
Big technology companies are betting that a new wave of smaller, more precise AI models will be more effective when it comes to the needs of businesses in sectors like law, finance, and health care. Jaap Arriens | NurPhoto via Getty Images LONDON — Increasingly many financial services firms are touting the benefits of artificial […]
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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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Meet the ex-Goldman wealth advisor who quit to solve Britain’s £567 billion gender investment gap
Ayesha Ofori, founder and CEO of Propelle. Propelle Ayesha Ofori is a former Goldman Sachs wealth advisor who quit her high-profile job to resolve Britain’s gender wealth gap, after realizing she had spent her career making rich men even richer. Ofori is the 40-year-old founder and CEO of female-focused financial investment platform, Propelle, which launched […]
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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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Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
Check out the companies making headlines before the bell. Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. Piper Sandler believes gross margin expansion and efficiency gains are upside catalysts for the stock. Peloton — Shares of the connected fitness company slid about 2.4%, […]
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Goldman Sachs jumps into bitcoin ETFs while rivals retreat, and one hedge fund gets bullish on miners
When the SEC opened the door in January for bitcoin exchange-traded funds to hit the mainstream, many traditional financial institutions across Wall Street and beyond finally had the opportunity to buy into crypto. Since then, money has poured in, but in fits and starts. On Wednesday, banks and hedge funds with more than $100 million […]
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The popular ‘carry trade’ is unwinding — and economists fear Fed rate cuts could make matters worse
Pedestrians walk past a currency exchange shop in central Tokyo on April 17, 2024. Richard A. Brooks | Afp | Getty Images Rapid interest rate cuts from the Federal Reserve could make matters worse for the global “carry trade” unwind, according to economists at TS Lombard. The warning comes as market participants seek to aggressively […]
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Europe stocks slide 2%, extending losses after weaker-than-expected U.S. jobs report
The lights of Frankfurt am Main’s banking skyline glow in the last light of day. Boris Roessler | Picture Alliance | Getty Images LONDON — European stocks extended losses on Friday amid a global downturn, as weak U.S. economic data sparked fears of a recession. The regional Stoxx 600 index shed as much as 2.3% […]
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UK lenders slash mortgages as Bank of England rate cut brings relief to homeowners
A row of traditional houses on a street in London’s Muswell Hill suburb, located to the north of London, with views of the Canary Wharf on the horizon. Georgeclerk | Istock | Getty Images LONDON — Britain’s major high street lenders have begun slashing their mortgage rates in a sign that financial pressure on households […]
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