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Business, Economy

“Billionaire tech CEO says bosses shouldn’t ‘BS’ employees about the impact AI will have on jobs”

“Jim Kavanaugh, CEO of World Wide Technology, told CNBC that people are “too smart” to accept artificial intelligence won’t alter their work environment. Business leaders shouldn’t “BS” employees about the impact of AI on jobs, Kavanaugh said, adding that they… Continue Reading…

Cryptocurrencies

“Bitcoin and crypto stocks rise after the Fed cuts rates by half a percentage point”

“…The price of bitcoin was recently higher by 5% at $63,255.00, according to Coin Metrics, building on a rally underway before the central bank decision Wednesday. Bitcoin, similar to stocks, initially jumped and then pulled back as traders absorbed the news…” https://www.cnbc.com/2024/09/19/crypto-market-today.html… Continue Reading…

Banking

“The Fed forecasts lowering rates by another half point before the year is out”

“…The so-called dot plot indicated that 19 FOMC members, both voters and nonvoters, see the benchmark fed funds rate at 4.4% by the end of this year, equivalent to a target range of 4.25% to 4.5%. The Fed’s two remaining… Continue Reading…

Banking

“This Bank [PNC] Could Be the Next to $1 Trillion in Assets…”

“There are more than 4,500 bank subsidiaries in the U.S., according to the Federal Deposit Insurance Corporation. However, there is a wide discrepancy in size. Four banks — JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo — each have at least $1.6 trillion in… Continue Reading…

Business

“Intuitive Machines clinches $4.8 billion navigation services contract from NASA”

“Intuitive Machines (LUNR) said on Tuesday it has bagged a navigation and communication services contract of up to $4.82 billion from NASA for missions in the near space region. The group’s stock price was up over 50% in premarket trading… Continue Reading…

Banking, Business

“Apple is in talks with JPMorgan for bank to take over card from Goldman Sachs”

“Apple is in discussions with JPMorgan Chase for the bank to take over the tech giant’s flagship credit card program from Goldman Sachs, a person with knowledge of the negotiations said. The discussions are still early and could falter, and… Continue Reading…

Business

“Microsoft, BlackRock form group to raise $100 billion to invest in AI data centers and power”

“The Global Artificial Intelligence Infrastructure Investment Partnership is initially looking to raise $30 billion for new and existing data centers. The fundraising, which could total $100 billion, will also be used to invest in the energy infrastructure needed to power… Continue Reading…

Banking

“Federal Reserve lowers interest rates by 0.50 percentage points in first cut since 2020”

“The Federal Reserve on Wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease borrowing costs as inflation-weary consumers are grappling with high rates on everything… Continue Reading…

Stocks

“Why Icahn Enterprises Blasted Nearly 15% Higher on Monday” [September 16, 2024]

“On news that a potentially resource-draining lawsuit against the company had been dismissed, units of master limited partnership Icahn Enterprises (NASDAQ: IEP) leaped almost 15% in price on Monday. This occurred on a rather sleepy trading session for stocks, with the S&P 500 index only… Continue Reading…

Stocks

“Microsoft Announces $60 Billion Buyback, 10% Dividend Hike”

“…Microsoft also will increase its quarterly dividend by 8 cents, to 83 cents a share. It’s the company’s 20th straight year of increasing its dividend. Microsoft stock rose 0.9% to 435.07 on Tuesday. MSFT stock has risen for seven straight… Continue Reading…