Author: Press Room
California Gov. Gavin Newsom has canceled the public capitol’s annual Christmas tree lighting, instead opting to host a virtual event amid planned pro-Palestinian protests, according to a report.According to KCRA, Wednesday’s 92nd Annual California State Capitol Tree Lighting was initially expected to be an in-person event in Sacramento, but a decision was made to make the event virtual because of planned protests.An announcement posted on Tuesday by the governor’s office states that a pre-recorded virtual ceremony will be released on Wednesday at 6 p.m.The California Highway Patrol barricaded most of the capitol building’s west side lawn, where the tree is…
Bill Ackman has had it with the presidents of Harvard, MIT and UPenn.The presidents were grilled by Congress over their colleges’ response to the Israel-Hamas war.Ackman said all three should “resign in disgrace” for saying that “genocide depends on the context.” Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Bill Ackman has called for the resignation of Harvard, MIT, and the University of Pennsylvania’s presidents following their congressional hearing on antisemitism on Tuesday.The billionaire singled out the three college presidents in a post written on X,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Who loses if artificial intelligence wins? Software developers rank highly on the list of jobs considered most at risk of obsolescence. Software development companies must therefore convince investors and customers that AI will enhance existing services, not replace them.San Francisco-based GitLab is doing a good job of that. On Tuesday, the company’s share price rose 11 per cent following earnings that showed revenues up nearly a third over last year plus a bump in the full-year outlook. GitLab pointed to the popularity…
© Reuters. Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo SHANGHAI (Reuters) -China’s major state-owned banks were selling U.S. dollars in the onshore spot foreign exchange market for a second day on Wednesday to support the yuan currency, three sources with knowledge of the matter said. The yuan has come under renewed depreciation pressure after rating agency Moody’s (NYSE:) on Tuesday cut its outlook on China’s government credit ratings to negative from stable, citing expectations of slower economic growth and property market risks. State banks were busy buying the yuan…
© Reuters. FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo SINGAPORE (Reuters) -Nvidia will continue to develop a new set of products that comply with U.S. government regulations involving exports of high-end chips to China, its CEO Jensen Huang said on Wednesday. The California-based artificial intelligence chip designer has commanded more than a 90% share of China’s $7 billion AI chip market, but analysts have said tightening U.S curbs on chip exports are likely to create opportunities for Chinese rivals to make inroads.…
© Reuters. Investing.com– Oil prices moved little in Asian trade on Wednesday, sticking to near five-month lows after a warning on China’s economy rattled markets, while signs of an unexpected build in stockpiles also added to pressure on prices. Crude prices plummeted over the past six weeks, with a bulk of losses coming in recent sessions after the Organization of Petroleum Exporting Countries and allies largely underwhelmed markets with its plans to cut production further in 2024. The middling cuts indicated that oil markets will not be as tight as initially anticipated in early-2024. They also came amid growing concerns…
Alistair Berg/DigitalVision via Getty Images Five9 (NASDAQ:FIVN) dropped 5% in after-hours trading after the call center software provider said it’s not pursuing any deal after a report on Monday that it was exploring a sale. “Although Five9’s general policy is not to comment on market rumors or media speculation, Five9 was approached with such an opportunity; however, Five9 is not pursuing any such acquisition,” Five9 said in the statement. Five9 (FIVN) shares rose 7.4% on Monday after a Bloomberg report said the company was exploring a sale a little bit more than two years after it scuttled its planned sale…
Mr. Biden and Mr. Netanyahu are at odds over the day-after question. While Mr. Biden agrees that Hamas must be removed from power in Gaza, he opposes an Israeli re-occupation of the coastal enclave. Instead, he favors what he calls a “revitalized” Palestinian Authority taking over Gaza as well. But Mr. Netanyahu has resisted that and on Tuesday said only Israel can ensure that Gaza will remain demilitarized after Hamas is destroyed. “I’m not ready to close my eyes and accept any other arrangement,” he said.For all their differences, Biden administration officials argue that the president’s strategy has paid dividends.…
Rosemarie Miller and Dr. Heavenly Kimes discuss household values, what inspired her to pursue dentistry, and what’s next for her career.
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Wells Fargo is setting aside as much as $1bn for “unanticipated” severance costs in the fourth quarter of this year, as the US bank seeks to lower expenses and with fewer employees leaving voluntarily.Chief executive Charlie Scharf, who announced the job reduction expense on Tuesday morning at an industry conference, did not say how many positions would be eliminated and when.“We have seen turnover come down,” Scharf said. “And with turnover dropping, unfortunately, we’re going to have to be more aggressive about…