Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Ashtead has warned that annual profits will fall short of forecasts, as fewer natural disasters in the US and the Hollywood writers’ strike hit demand for the equipment rental company’s services.Shares in the FTSE 100 group tumbled 14 per cent in early trading on Monday following the warning.The group said full-year revenues would now grow between 11 per cent and 13 per cent, below a previous prediction of between 13 per cent and 16 per cent.As a result of the slower than anticipated…
Anticipating a robust economic outlook for India, Goldman Sachs has projected the country’s GDP growth to stand at 6.2% for the fiscal year 2024. The forecast credits the government’s proactive measures to curb food inflation, particularly significant in an election year, as a key factor in maintaining economic stability. Notably, these efforts are expected to postpone any potential rate cuts until the fourth quarter. Following the elections, there’s an expectation that private investment will play a crucial role in revitalizing India’s economic growth. Despite the challenges posed by an over-target average inflation rate of 5.1%, driven by supply-side pressures, there…
© Reuters WASHINGTON – The House Judiciary Committee and its Weaponization Select Subcommittee, led by Chairman Jim Jordan, escalated their ongoing inquiry into privacy violations stemming from unauthorized data sharing practices between private entities and federal law enforcement agencies. This escalation came in the form of a subpoena issued to Bank of America and CEO Brian Moynihan, demanding information regarding the bank’s provision of sensitive customer financial data to the FBI without legal orders or customer consent. The transactions under scrutiny are related to events at the U.S. Capitol on January 6. On Thursday, Chairman Jordan had subpoenaed Bank of…
Justin Sullivan It’s a classic tale in Silicon Valley, but the reverberations are still being heard across the investing world. Sam Altman’s bid to return to OpenAI after being ousted late on Friday has failed after the board did not agree to proposed terms of his reinstatement in negotiations that took place over the weekend. Emmett Shear, the former CEO of Twitch and a prior partner to Sam Altman’s startup accelerator Y Combinator, has been named as interim CEO. Check back for updates…
Brigitte Macron waited 10 years to marry the French President because her children were around his age.She spoke about her relationship with Emmanuel Macron to news magazine Paris Match, per The Times.The couple first started dating when he was 15 and she was his drama teacher. 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 Brigitte Macron says she waited a decade to marry French President Emmanuel Macron to avoid ruining the lives of her children, who were around his age.The French first lady, 70,…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.OpenAI’s board has selected Emmett Shear, co-founder of video streaming service Twitch, as its interim chief executive, according to two people briefed on the matter.The unexpected move is set to deepen rifts at the company, which were exposed by the sacking of co-founder Sam Altman on Friday.Shear is the second interim appointment in three days, after the board initially replaced Altman with chief technology officer Mira Murati on Friday afternoon, a decision that plunged the leading generative artificial intelligence company into crisis.OpenAI’s…
© Reuters. FILE PHOTO: The logo for Citibank is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly By Saeed Azhar, Isla Binnie and Tatiana Bautzer NEW YORK (Reuters) – Citigroup employees expect the bank to announce layoffs and senior management changes on Monday as part of its biggest reorganization in decades, according to five sources with knowledge of the matter. The job cuts could affect thousands of staff, according to a source familiar with the situation who was not authorized to speak publicly. Executives are…
© Reuters. Union Bank of India announced the appointment of Avinash Vasant Prabhu as its new Chief Financial Officer (CFO), effective today. Following the news, the bank’s shares experienced a notable increase, reaching an intraday high of ₹111.45, which is a 2.57% rise. Prabhu, taking over the reins from his predecessor CA Prafulla Kumar Samal, brings to the table a wealth of experience spanning over 25 years. His career includes prominent roles in transformation leadership at Deutsche Bank India and managerial duties at Arthur Andersen. He has also held significant positions at Credit Agricole (OTC:) CIB in India. Prabhu’s expertise…
© Reuters. Investing.com– Gold prices were muted on Monday, but retained a bulk of last week’s gains as easing concerns over rising U.S. interest rates pulled down the dollar. Industrial metals saw strong gains, with copper prices rising 0.6% to a 1-½ month high on the prospect of more stimulus measures in major importer China. A weaker dollar helped commodity prices across the board, as a string of weak labor and inflation readings over the past week saw traders betting that the Federal Reserve was done raising interest rates. This notion pushed the to an over two-month low, and also…
Last week, Chinese President Xi Jinping and US President Joe Biden agreed to resume high-level military communication amid efforts to ease growing geopolitical tensions in Asia. ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE), (CHIX). Currency: (CNY:USD) More on China economy: