By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. Inflation data from the world’s three largest economies – China, the United States and euro zone – sets the tone for world markets this week, and Asia gets the ball rolling on Monday following the April figures out of Beijing at…
(Reuters) -SoftBank Group’s Arm Holdings plans to develop artificial-intelligence (AI) chips, seeking to launch the first products in 2025, Nikkei Asia reported on Sunday. UK-based Arm will set up an AI chip division and aim to build a prototype by spring 2025, the report said. Mass production will be handled by contract manufacturers and is…
(Reuters) -Billionaire investor Kenneth Griffin called on his alma mater Harvard University on Saturday to embrace “Western values”, saying that the turmoil across college campuses was the product of a “cultural revolution” in U.S. education. Griffin, founder of U.S. hedge fund Citadel, told the Financial Times in an interview that the U.S. had “lost sight…
(Reuters) -Tesla will spend more than $500 million this year to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business. “Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year,” Musk said…
(Reuters) – The United States is preparing a $400 million military aid package for Ukraine, as the U.S. returns to a regular pace of supplying weapons to Kyiv after lawmakers passed a $95 billion bill, the White House said on Friday. The Ukraine aid package includes artillery, munitions for NASAMS air defenses, anti-tank munitions, armored…
By Niket Nishant and Manya Saini (Reuters) – Robinhood Markets’ suite of new products, including its credit card and futures trading platform, will be crucial to drive growth as market fluctuations and regulatory risks cloud the near-term outlook for its legacy business, analysts said. The expanded offerings show that the 11-year old trading app, best…
By Zaheer Kachwala (Reuters) -Roblox cut its annual bookings forecast on Thursday, fanning concerns about a slump in the videogame industry and sending its shares down 23% to mark their worst day in more than two years. The move signaled that people were dialing back on spending within Roblox’s video-gaming platform amid an uncertain economic…
(This May 8 story has been corrected to clarify that nights and experiences booked rose to 133 million, not $133 million, in paragraph 3) By Doyinsola Oladipo and Aishwarya Jain (Reuters) – Airbnb reported a higher quarterly profit on Wednesday but forecast second-quarter revenue below Wall Street expectations, sending shares of the vacation rental company…
By Clyde Russell SINGAPORE (Reuters) -It’s time for a reality check about decarbonising Asia’s vast and growing steel sector. Reducing the carbon footprint is possible, but only in stages, and over a far longer than ideal time period, and only if incentives to do so are available. Steel is the biggest industrial contributor to global…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) -President Joe Biden decided to hold back delivery of high payload munitions to Israel because Washington believes a possible Israeli offensive in the Gaza city of Rafah could put civilians at risk, Defense Secretary Lloyd Austin said on Wednesday. Austin added that the administration was also reviewing…