Editor

AI stocks battered heading into make-or-break Nvidia earnings

By Shashwat Chauhan (Reuters) – Artificial intelligence-linked shares fell on Tuesday, in lead-up to AI bellwether Nvidia’s quarterly earnings, which could offer clarity on demand and justify the sector’s lofty valuations. Technology stocks globally sold off this week after a TD Cowen analyst note said Microsoft has canceled leases for sizeable data center capacity in the U.S., with at least two private data-center operators. AI-darling Nvidia dropped 2.1% ahead of its highly anticipated quarterly earnings … Read more…

Categories Uncategorized

US bank profits climb as regulator adjusts ‘problem bank’ tracking

By Pete Schroeder WASHINGTON (Reuters) – U.S. banking sector profits rose 2.3% to $66.8 billion in the fourth quarter of 2024, a bank regulator reported on Tuesday, as it also announced moves to update how so-called problem banks are tracked. In its latest quarterly report, the Federal Deposit Insurance Corporation said it is revising its “problem bank” list to say only how many banks have been downgraded by regulators. The FDIC will no longer disclose … Read more…

Meta must face lawsuit claiming it prefers cheaper foreign workers

By Jonathan Stempel (Reuters) – A federal judge on Tuesday said Meta Platforms must face a lawsuit claiming that the Facebook and Instagram parent prefers to hire foreign workers because it can pay them less than American workers. U.S. Magistrate Judge Laurel Beeler in San Francisco said three U.S. citizens who accused Meta of refusing to hire them though they were qualified may pursue a proposed class action. Meta and its lawyers did not immediately … Read more…

Categories Uncategorized

Trump blocked from imposing sweeping federal funding freeze

By Nate Raymond (Reuters) – A U.S. judge on Tuesday extended an order blocking President Donald Trump’s administration from instituting a sweeping freeze on trillions of dollars in federal funding by pausing grants, loans and other financial support.  U.S. District Judge Loren AliKhan in Washington wrote that while some funds had become unfrozen since she first temporarily blocked the administration’s spending pause, there remained a risk the administration might again try to shut off funding. … Read more…

Categories Uncategorized

Trump policy concerns send US consumer confidence plummeting to eight-month low

By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February while 12-month inflation expectations surged, offering further signs that Americans were growing anxious about the potential negative economic impact of the policies of President Donald Trump’s administration. The Conference Board survey on Tuesday noted that “comments on the current administration and its policies dominated the responses.” It followed on the heels of surveys last week showing steep … Read more…

Categories Uncategorized

Nvidia takes EU antitrust regulators to court for probing AI startup Run:ai bid

By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Nvidia has sued EU antitrust regulators for accepting an Italian request last year to scrutinise its acquisition of AI startup Run:ai, saying they had flouted an earlier court ruling restricting their merger powers on minor deals. While the case does not have any impact on the Run:ai deal which was eventually approved by the EU competition watchdog in December last year, a ruling favouring Nvidia may … Read more…

JPMorgan CEO Jamie Dimon reaffirms DEI commitment despite industry shift, CNBC reports

(Reuters) – JPMorgan Chase will continue its diversity efforts, its CEO Jamie Dimon said in an interview with CNBC on Monday, despite a broader corporate retreat from such initiatives. The bank will continue its outreach to Black, Hispanic, LGBT, veteran and disabled communities, Dimon said. Earlier this month, the largest U.S. bank said it expects “to be criticized by activists, politicians and other members of the public” concerning business practices or positions it takes with … Read more…

Oil trade group pushes US for national ethanol policy after EPA okays Midwest expansion

By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) – The American Petroleum Institute trade group on Monday pressed for a nationwide policy on higher-ethanol blends of gasoline after the President Donald Trump’s administration said on Friday it would move ahead with expanded sales of the product in certain Midwestern states. The U.S. Environmental Protection Agency said on Feb. 21 it would uphold an April 28 implementation date for a request from eight Midwest governors … Read more…

AI startup Anthropic finalizing $3.5 billion funding round, WSJ reports

(Reuters) – AI startup Anthropic is looking to raise $3.5 billion in its latest funding round which would value the startup behind the chatbot Claude at $61.5 billion, the Wall Street Journal reported on Monday. Investors in the latest round include venture firms Lightspeed Venture Partners, General Catalyst and Bessemer Venture Partners, WSJ said. Abu Dhabi-based investment firm MGX is also in talks, according to the report. Anthropic did not immediately respond to a Reuters … Read more…

Microsoft shelves AI data-center deals in sign of potential oversupply, brokerage says

By Aditya Soni (Reuters) – Microsoft has scrapped leases for sizeable data center capacity in the U.S., suggesting a potential oversupply at the tech giant as it builds out artificial intelligence infrastructure to meet a possible surge in demand, TD Cowen said. Skepticism has been growing among investors over the billions of dollars U.S. tech firms have been channeling into AI infrastructure due to slow payoffs and breakthroughs at Chinese startup DeepSeek, which has showcased … Read more…

Categories Uncategorized