JPMorgan sues customers over check fraud linked to glitch that went viral

By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase, the largest U.S. bank, has begun suing customers for check fraud, saying they improperly withdrew funds by taking illegal advantage of a temporary technical glitch that went viral on TikTok. The glitch in late August let customers deposit big checks in ATMs and withdraw funds immediately before the checks could clear, even if the checks later bounced. Chase filed four lawsuits on Monday in federal courts … Read more…

Microsoft’s AI demand under scrutiny as investors seek payday

By Aditya Soni (Reuters) – Microsoft is expected to report its slowest quarterly revenue growth in a year on Wednesday, while investors await signs of AI demand amid growing worries about the slow payoff from hefty investments in the technology. The software giant is widely seen as the front-runner in the race to capitalize on generative AI, in part thanks to its investment in ChatGPT-owner OpenAI. But recent reports point to slow adoption for its … Read more…

Google to develop AI that takes over computers, The Information reports

(Reuters) – Alphabet’s Google is developing artificial intelligence technology that takes over a web browser to complete tasks such as research and shopping, The Information reported on Saturday.  Google is set to demonstrate the product code-named Project Jarvis as soon as December with the release of its next flagship Gemini large language model, the report added, citing people with direct knowledge of the product. Microsoft backed OpenAI also wants its models to conduct research by … Read more…

Are Microsoft, Meta, and Uber Headed for Post-Earnings Surprises?

Big Tech Earnings Preview for the Week: Microsoft, Meta, and Uber Set to Shape the Market This week, Microsoft (Wednesday), Meta (Wednesday), and Uber (Thursday) are each set to release their quarterly earnings, bringing with them a mix of high expectations and fresh market anxieties. As investors eagerly await, all three companies hold unique positions that could significantly impact their sectors, and the broader market. With robust YTD gains, exciting partnerships, and shifting strategic goals, … Read more…

Categories Uncategorized

If a Global Conflict Hits, Where Will Your Money Be?

On the Edge: Could Geopolitical Tensions Push Us Toward WW3? How to Prepare Your Portfolio for the Unexpected From Moscow’s saber-rattling over Ukraine to China’s rising assertiveness in Asia, and the recent surge in hostilities between Israel and Hamas, today’s geopolitical landscape is a tinderbox. Russia’s hints at heightened military action, coupled with economic strains on the West, are fueling fears that global powers may be inching toward a broader confrontation. The U.S. has ramped … Read more…

Categories Uncategorized

2024 U.S. Election: Will the Market Boom or Bust?

As the 2024 U.S. Presidential Election approaches, investors are on high alert. Historically, election cycles have triggered market volatility, but this time it feels different. With the global economy still grappling with inflation, interest rate hikes, and geopolitical tensions, the stakes have never been higher. Regardless of whether it’s Trump or Harris who emerges victorious, the election’s outcome will reverberate across the stock market, impacting sectors from tech to energy. But here’s the real question: … Read more…

Categories Uncategorized

U.S. Productivity Excels – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Last week’s market finished up again after several days of churning higher with the S&P 500 and the Dow Jones Industrial Average cresting to record new highs. The Magnificent 7 and big techs soared to new highs also, finishing the week strong. The earning parade continued with a majority of companies’ releases beating year-over-year numbers. Oil was weaker, closing down $1.45 a barrel. Gold moved steadily up hitting $2,713.70 … Read more…

Platinum Equity’s Ingram Micro valued at $6 billion as shares jump 15% in NYSE debut

By Arasu Kannagi Basil and Echo Wang (Reuters) -Ingram Micro notched a valuation of $6 billion after shares jumped 15% in their market debut on Thursday, signaling strong investor demand for one of the world’s largest technology distributors. U.S. initial public offerings have staged a comeback as investor sentiment improves and stock markets hover near record highs. With uncertainties surrounding the presidential election and future rate cuts expected to ease next year, analysts anticipate more … Read more…

Hack at UnitedHealth’s tech unit impacted 100 million people, US health dept says

(Reuters) – The February hack at UnitedHealth’s tech unit Change affected the personal information of 100 million people, the U.S. health department’s website showed, making it the largest healthcare data breach in the country. UnitedHealth has previously said that hackers potentially stole a third of Americans’ data in one of the worst hacks to hit the U.S. healthcare sector. The company began notifying affected patients in June. UnitedHealth did not immediately respond to a Reuters … Read more…

Categories Uncategorized

Exclusive-Pakistan requests $1 billion in IMF climate cash and sees reserves rising

By Karin Strohecker WASHINGTON (Reuters) -Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps lows and middle income countries mitigate climate risk, its finance minister told Reuters. “We have formally requested to be considered for this facility,” Finance Minister Muhammad Aurangzeb said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington. The International Monetary Fund had already agreed a $7 billion … Read more…

Categories Uncategorized