By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to seven-week peaks on Thursday as another round of solid economic data further pared back bets on easing by the Federal Reserve, with the greenback also boosted by expectations of a U.S. debt ceiling deal to a avert potential default. The dollar index, a measure…
By Katie Paul and Stephen Nellis NEW YORK (Reuters) -Meta Platforms on Thursday shared new details on its data center projects to better support artificial intelligence work, including a custom chip “family” being developed in-house. The Facebook and Instagram owner said in a series of blog posts that it designed a first-generation chip in 2020…
By Jonathan Stempel and Luc Cohen NEW YORK (Reuters) -The young entrepreneur Charlie Javice has been indicted on charges of defrauding JPMorgan Chase & Co, the largest U.S. bank, into buying her now-shuttered college financial aid startup Frank. A four-count grand jury indictment made public on Thursday in Manhattan federal court charges Javice with securities…
(Reuters) -Chip tools maker Applied Materials Inc forecast third-quarter revenue above market estimates on Thursday, as chipmakers expand production plans to meet a global shortage felt by electronics and auto manufacturers. Even though consumer-driven markets, including PCs and smartphones remain weak, demand from artificial intelligence and automotive sectors is giving Applied Materials the much-needed boost…
By Devayani Sathyan BENGALURU (Reuters) – The Reserve Bank of New Zealand will hike interest rates by a final quarter point on Wednesday then end its most aggressive tightening cycle since adopting the cash rate in 1999, according to a Reuters poll which then showed a pause until year-end. After surprising financial markets with a…
MEXICO CITY (Reuters) -The Bank of Mexico, in a unanimous decision by its five-member board, kept its benchmark interest rate steady at 11.25% on Thursday, ending a nearly two-year rate-hike cycle, and said it would keep the rate at that level for an extended period. The decision was in line with analysts’ expectations. To get…
By Timothy Aeppel CHICAGO (Reuters) -For Matthew Prange, it’s easy to see why the inflation surge of the last two years has proven so difficult for the Federal Reserve to tame. “When prices go up, it tends to stick,” said Prange, who oversees $3 billion worth of purchases of electronic parts, plastics, and metal as…
(Reuters) – More than 200 Russian athletes have been sanctioned following the ‘Operation LIMS’ investigation into Moscow’s anti-doping laboratory with more bans to come, the World Anti-Doping Agency said on Thursday. The suspensions are the result of data and samples retrieved by WADA’s Intelligence and Investigations team into the Moscow Laboratory Information Management System (LIMS)….
By Medha Singh (Reuters) – The New York Stock Exchange and the Nasdaq said on Thursday they would cancel erroneous trades in the shares of IT solutions provider CDW Corp, which briefly plunged as much as 96% to $7 in premarket trading. They would bust all trades in the stock between 04:00 a.m. ET and…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen reaffirmed the strength and soundness of the country’s banking system in a meeting with bank CEOs on Thursday, a Treasury Department statement said. During the meeting with more than two dozen CEOs and executives convened by the Bank Policy Institute, Yellen also discussed the “urgent need” for…
