Author: Press Room

© Reuters. FILE PHOTO: Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Jamie McGeever ORLANDO, Florida (Reuters) – The rise in U.S. rate cut expectations for next year seems to have prompted hedge funds to cool their optimism on the dollar, potentially weakening a key plank of support for the currency in the coming months. The latest Commodity Futures Trading Commission (CFTC) data shows that funds cut their net long dollar position against a range of major and emerging currencies to $4.5 billion in the week ending Nov. 14 from $10 billion…

Hunter Biden has offered to testify publicly before the House Oversight Committee on Dec. 13, according to a letter obtained by Fox News.The president’s son agreed to comply with a subpoena issued by House Oversight Committee Chairman James Comer, R-Ky., according to the letter sent to the committee Tuesday, but he is demanding that the testimony be public.The subpoena was for a closed-door deposition rather than a public hearing, sources told Fox News.Comer subpoenaed the president’s son, the president’s brother James Biden and his business associated Rob Walker earlier this month as part of the Republican-led investigation into the Biden…

SHANGHAI, CHINA – NOVEMBER 05: People visit the 6th China International Import Expo (CIIE) at the … [+] National Exhibition and Convention Center (Shanghai) on November 5, 2023 in Shanghai, China. The 6th CIIE opens on November 5 in Shanghai. (Photo by Tang Ke/VCG via Getty Images)VCG via Getty Images Given its better prospects, we believe RTX Corp stock (NYSE: RTX) is a better pick than its sector peer, General Electric stock (NYSE: GE). Although both stocks trade at a similar valuation multiple of around 1.6x revenues, RTX has seen better revenue growth and superior profitability in recent years. We…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rolls-Royce said it would quadruple its profits in the next four years and sell its electric aircraft division as chief executive Tufan Erginbilgic tries to make good on his promise to turn around the UK aerospace company.The demanding profit target is the centrepiece of a long-awaited shake-up by Erginbilgic, a former BP executive who was parachuted into the top job in January to help Rolls-Royce recover from the damage inflicted by the pandemic and previous restructurings.Under the plan, the FTSE 100 group…

© Reuters. FILE PHOTO: Matteo Salvini, Italian infrastructure minister and deputy PM, attends a news conference for the government’s first budget in Rome, Italy November 22, 2022. REUTERS/Remo Casilli/File Photo ROME (Reuters) – Italian Infrastructure and Transport Minister Matteo Salvini said on Tuesday he was not necessarily against selling stakes in state-controlled railways group Ferrovie dello Stato, but at the moment, no such plans are on the table. On Monday Salvini, who is also deputy prime minister, was quoted as saying that he was against selling a stake in the company. But in comments at the Foreign Press Association in…

© Reuters. Precision BioSciences (NASDAQ:), a biotechnology firm focusing on gene editing, announced that on November 21, the company’s Compensation Committee authorized an inducement stock option for a new hire under the Nasdaq Listing Rule 5635(c)(4). The inducement, part of their Inducement Award Plan, allows the employee to purchase 160,000 shares of Precision BioSciences’ common stock at $0.42 each. The stock option comes with a vesting schedule spread over four years, with one-quarter of the shares vesting on the first anniversary of the employee’s start date and the remaining shares vesting in quarterly increments thereafter. This strategic grant aligns with…

© Reuters. FILE PHOTO: A woman picks a gold earring at a jewellery shop in the old quarters of Delhi, India, May 24, 2023. REUTERS/Anushree Fadnavis By Clyde Russell LAUNCESTON, Australia (Reuters) -The spot price of gold has climbed to a six-month high, buoyed by hopes that monetary tightening in western countries is largely done and dusted. While signs that the U.S. Federal Reserve and other western central banks have finished increasing interest rates are a definite positive for the precious metal, they’re not the only factor. China and India make up more than 50% of the physical gold market,…

Michael Vi General Motors (NYSE:GM) is expected to announce a cut in spending for the Cruise self-driving unit during an investor event on Wednesday, according to FT. The development is not a major surprise with self-driving tests paused in California while accidents in the San Francisco area are investigated. The self-driving vehicle business also lost its Chief Executive Officer and Chief Product Officer to recent resignations. GM’s (GM) Cruise had a long-term revenue target of $50B by 2030, which is likely to be revised due to the slowdown in coming to the market with a commercial service. The Cruise segment…

William J. Burns, the C.I.A. director, arrived in Doha, Qatar, on Tuesday for a new round of negotiations aimed at freeing more hostages held in Gaza, according to U.S. officials.Mr. Burns and David Barnea, the head of the Mossad, Israel’s spy service, are scheduled to meet with Qatari officials. Qatar, which hosts Hamas’s political leadership in Doha, has been a mediator in the talks between Israel and Hamas.Qatar announced on Monday that Israel and Hamas had agreed to extend a pause in fighting for two additional days to exchange more hostages and prisoners and to allow more aid to come…

Sports Illustrated published articles by fake authors with AI-generated profile pictures, Futurism reported.The magazine denied using AI but said it would take down the articles while it investigated.It’s the latest publication to get called out for apparently using AI. 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 Sports Illustrated has become the latest publication to get called out for using artificial intelligence to generate content.The magazine said it will take down several articles after a report found they were written by fake, AI-generated authors.Futurism…