US cyber watchdog says no indication breach at Treasury hit other federal agencies

By Raphael Satter WASHINGTON (Reuters) – The U.S. cyber watchdog agency CISA said on Monday there was “no indication” the recently reported breach at the U.S. Treasury Department had affected any other federal agency. Late last month the U.S. Treasury reported that an unspecified number of computers had been compromised by Chinese hackers following a breach at contractor BeyondTrust, which provides cybersecurity services. BeyondTrust said last month that a limited number of clients were affected … Read more…

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Will the Bull Stay Charged – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Stocks soared in 2024…with the indexes marching to record yearly highs. The S&P 500 finished up 24% (with “57 record closes”), with the Dow Jones Industrial Average gaining 14%. The heavy-tech Nasdaq Composite soared a dazzling 31%, reflecting its powerful make-up of the Magnificent 7, chip and AI stocks as the exchange, after a few hiccups, continued moving upward. The Russell 2000 (the forgotten index, made up of smaller … Read more…

Wells Fargo names Citi ‘dominant pick’, predicts stock to double in three years

By Manya Saini (Reuters) – Citigroup’s stock could double in value over the next three years as the Wall Street lender’s profits surge, Wells Fargo analysts wrote in a client note on Friday, naming it the brokerage’s top pick in the large-cap banking sector. CEO Jane Fraser implemented a sweeping overhaul in 2024 to improve the bank’s performance, cut costs, and simplify its sprawling businesses. As part of the turnaround, Citi plans to cut 20,000 … Read more…

US jobs report poses first big stocks test of 2025

By Lewis Krauskopf NEW YORK (Reuters) – The stock market faces its first major test of the year in the coming week, with investors counting on the U.S. jobs report to show a stable but not overheated economy that underpins expectations for equity gains in 2025. Stocks wobbled at the end of December and the start of January, cooling off after a torrid run. The benchmark S&P 500 closed 2024 with a 23% rise and … Read more…

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PayPal accused of racial bias against Asian Americans in funding program

By Jonathan Stempel NEW YORK (Reuters) – PayPal has been sued by an Asian American businesswoman who accused the digital payments company of racial bias for restricting part of a $535 million investment program to Black and Hispanic applicants, costing her millions of dollars. Thursday’s complaint by Nisha Desai and her New York-based venture capital firm Andav Capital is part of a growing push among some conservatives to curtail diversity, equity and inclusion initiatives in … Read more…

SpaceX’s Starship to deploy mock satellites in next test

By Joey Roulette WASHINGTON (Reuters) -Elon Musk’s SpaceX said on Friday its upcoming Starship test flight would include the rocket’s first attempt to deploy payloads in space by releasing 10 model Starlink satellites, a key demonstration for Starship’s potential in the satellite launch market. “While in space, Starship will deploy 10 Starlink simulators, similar in size and weight to next-generation Starlink satellites as the first exercise of a satellite deploy mission,” SpaceX said in a … Read more…

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US crypto industry eyes possible day-one Trump executive orders

(This Dec. 23 story has been corrected to fix the spelling of ‘Jonah Crane’ in paragraphs 15 and 18) By Hannah Lang (Reuters) – The cryptocurrency industry is pushing President-elect Donald Trump’s team to kick start his promised crypto policy overhaul when he takes office next month with executive orders that would help push tokens mainstream, according to industry officials. Trump plans to issue a flurry of executive orders and directives on everything from immigration … Read more…

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Nvidia’s market value gets $2 trillion boost in 2024 on AI rally

(Reuters) – Nvidia emerged as the biggest global gainer in market capitalization for 2024, driven by surging interest in artificial intelligence and the robust demand for its AI-centric chips across various industries. The chipmaker’s market value increased by over $2 trillion last year, reaching $3.28 trillion at the close of 2024, making it the second-most valuable listed company in the world. Its market value was $1.2 trillion at the end of 2023. Meanwhile, Apple continued … Read more…

OpenAI outlines new for-profit structure in bid to stay ahead in costly AI race

By Aditya Soni, Arsheeya Bajwa, Krystal Hu (Reuters) -OpenAI on Friday outlined plans to revamp its structure, saying it would create a public benefit corporation to make it easier to “raise more capital than we’d imagined,” and remove the restrictions imposed on the startup by its current nonprofit parent.  The acknowledgement and detailed rationale behind its high-profile restructuring confirmed a Reuters report in September, which sparked debate among corporate watchdogs and tech moguls including Elon … Read more…

Taiwan reports first Chinese ‘combat patrol’ of the New Year

TAIPEI (Reuters) -Taiwan’s defence ministry said on Thursday that Chinese warplanes and warships had carried out the first “combat patrol” around the island of the New Year, after Taiwan President Lai Ching-te again expressed willingness to talk to Beijing. China, which views democratically governed Taiwan as its own territory, sends its military into the skies and waters near the island on an almost daily basis, and holds what Taiwan calls “joint combat readiness patrols” several … Read more…

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