“Hey Apple enthusiasts, there’s some spicy news coming your way! Our beloved tech giant, Apple (NASDAQ:AAPL), is secretly cooking up some artificial intelligence (AI) goodies that could potentially take on the likes of OpenAI, Google (NASDAQ:GOOG) (NASDAQ:GOOGL), and other heavy hitters in the field. Under the hood, Apple has been working on a…
(Reuters) -U.S. bank regulators are set to release their plans next week for a sweeping overhaul of capital rules, with the latest draft including requirements for large lenders’ residential mortgages that go beyond international standards, Bloomberg News reported on Monday. The changes would be part of the U.S. version of a global accord known as…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada on Tuesday defended its decision to push ahead with its implementation of digital services taxes starting next year, citing national interest even as Finance Minister Chrystia Freeland expressed hope in reaching an international consensus. More than 140 countries were planning to implement a 2021 deal that…
(Reuters) – Big U.S. banks on Tuesday said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth and increased deposit costs may cloud the outlook for the sector. Signs of a revival in investment banking, which has been in the…
By Saeed Azhar and Manya Saini NEW YORK (Reuters) -Bank of America’s second-quarter profit beat Wall Street estimates as it earned more from customers’ loan payments while investment banking and trading fared better than expected. The second-largest U.S. lender projected its net interest income (NII) would increase 8% this year after it rose 14% in…
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines first officer Phil Anderson has turned down opportunities to be promoted to captain as he does not want the unpredictable schedule that comes with the bigger paycheck. Anderson is one of many who have passed on that promotion at United, and analysts and union officials said…
BUENOS AIRES (Reuters) -A delegation from Argentina’s Economy Ministry traveled to Washington on Tuesday to finalize details on the goals and disbursements involved in a $44 billion International Monetary Fund (IMF) loan, a government spokesperson said. The delegation includes Deputy Economy Minister Gabriel Rubinstein, and top adviser Leonardo Madcur, they said. The IMF confirmed through…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years. Morgan Stanley shares jumped 6.45%, their biggest one-day percentage climb since Nov. 9, 2020 after…
By Herbert Lash NEW YORK (Reuters) – The dollar rebounded off a 15-month low and global stock markets rose on Tuesday as upbeat earnings on Wall Street and retail sales pointing to a resilient U.S. economy sealed expectations that the Federal Reserve will hike interest rates next week. Bank of America posted a 20% surge…
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar rose from a 15-month low against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. Headline U.S. retail sales rose less than expected in June, with a…
