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5 things to know before the stock market opens Friday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street turns decisively lower after another hot inflation report Traders work on the floor of the New York Stock Exchange NYSE U.S. stock futures turned sharply lower after Friday’s before-the-bell inflation report showed a bigger-than-expected increase. […]
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A.I. gurus are leaving Big Tech to work on buzzy new start-ups
DeepMind co-founder Mustafa Suleyman, who recently left his VP of AI product management and AI policy role at Google, also co-founded the machine learning start-up Inflection AI. Suleyman has already hired several of his former colleagues. Bloomberg | Getty Images Artificial intelligence gurus are quitting top jobs at companies like Google, Meta, OpenAI and DeepMind […]
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Stick with profitable, recession-proof stocks to avoid a ‘crisis,’ Jim Cramer says
CNBC’s Jim Cramer reminded investors to own profitable, recession-proof stocks rather than conceptual ones after major tech stocks tumbled on Thursday. He noted that while the stocks took a hit, they’re still “terrific” and stand out from uninvestable names for two main reasons. Investable stocks “have a defined downside because of that dividend and their […]
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Stripe co-founder hits back at rivals accusing the company of unfair competition
John Collison, president and co-founder of Stripe. Christophe Morin | IP3 | Getty Images AMSTERDAM — The co-founder of $95 billion fintech giant Stripe defended the company’s business practices after complaints from rivals that it engages in unfair competition. John Collison, Stripe’s president, said Tuesday he is “pretty unapologetic” about the company’s decisions to launch […]
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Citi names the ‘attractive’ oversold stocks to buy right now
Market watchers have been reluctant to call the bottom on the brutal Wall Street sell-off this year, but Citi thinks a slew of stocks are now oversold and investors should buy the dip. The bank’s analysts, led by Hong Li, said that — given the “continued high macro risk and market volatility” — investors should […]
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Google ordered to pay Australian politician over defamatory YouTube videos
The logo of Google is seen on a building at La Defense business and financial district in Courbevoie near Paris, France, September 1, 2020. Charles Platiau | Reuters An Australian court on Monday ordered Google to pay a former lawmaker A$715,000 ($515,000), saying its refusal to remove a YouTuber’s “relentless, racist, vilificatory, abusive and defamatory” […]
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Crypto enthusiasts want to remake the internet with ‘Web3.’ Here’s what that means
Some crypto enthusiasts want a new kind of internet that yanks power away from Big Tech and hands it to people. Can they succeed? Remember AOL chatrooms and downloading songs through Napster? The internet has come a long way.Today, it’s dominated by Meta, Google and a handful of other tech giants whose services have made […]
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Lawmaker who wrote New York crypto mining bill explains: ‘It’s not a ban’
Bitcoin offices in Istanbul, Turkey, on May 11, 2022. Umit Turhan Coskun/NurPhoto via Getty Images New York State Assemblymember Anna Kelles is tired of all the fear-mongering about the bill she wrote — and sponsored — to place a two-year moratorium on certain types of new cryptocurrency mines in the state. The fate of the […]
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Amazon CEO of Worldwide Consumer Dave Clark resigns
Dave Clark, Amazon’s senior vice president of worldwide operations. Lindsey Wasson | Reuters Dave Clark, CEO of Amazon’s worldwide consumer business and a top lieutenant of Andy Jassy, will resign July 1 after 23 years at the company, Amazon announced in a regulatory filing Friday. Clark is one of a handful of the most important […]
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Musk’s Twitter deal faces backlash from advocacy groups that are seeking to block it
Pavlo Gonchar | Lightrocket | Getty Images A dozen advocacy groups are launching a new campaign Friday aimed at blocking Tesla CEO Elon Musk’s $44 billion purchase of Twitter, warning he will degrade important safeguards on the platform if he’s allowed to take control. The Stop the Deal campaign, shared exclusively with CNBC, includes plans […]
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