NEW YORK — A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower. Michelle Bowman was one of two Fed officials who voted a week and a half ago in…
Nvidia and AMD have agreed to share 15% of their revenue from sales to China with the U.S. government, the White House confirmed Monday, sparking debate about whether the move could affect the chip giants’ business and whether Washington might seek similar deals. In exchange for the revenue cut, the…
Disney’s ESPN and Fox Corp. are teaming up to offer their upcoming direct-to-consumer streaming services as a bundle, the companies said Monday. The move comes as media companies look to nab more consumers for their streaming alternatives, and draw them in with sports, in particular. Last week, both companies announced…
Nvidia Corp and Advanced Micro Devices Inc (AMD) have agreed to pay 15% of revenues from their Chinese artificial intelligence chip sales to the US government in exchange for export licenses, as per an FT report.The arrangement covers Nvidia’s H20 AI accelerator and AMD’s MI308 chip.The revenue-sharing deal is an…
Shares of State Bank of India (SBI) gained more than 2.2% during early trading on Monday after the country’s largest lender reported better-than-expected June quarter earnings. The stock opened at Rs 817.30 following the announcement of a 12% year-on-year increase in standalone net profit to Rs 19,160 crore in Q1FY26,…
Shares in Orsted sank more than 27% on Monday, nearing an all-time low, after the Danish renewable-energy group scrapped plans to sell a stake in a key US offshore wind project and announced a $9.4 billion rights issue to shore up its finances.The state-backed company said it would raise gross…
The global refining industry faces a pivotal moment, influenced by evolving regional demand, increasing sustainability demands, and growing energy security issues.Despite a reduction in the number of refineries, global refining capacity has increased to accommodate the growing volume of oil requiring processing, according to the latest Rystad Energy’s research.Global primary…
European nations are moving fast to influence the upcoming summit between US President Donald Trump and Russian President Vladimir Putin set for August 15, 2025, in Alaska.While the meeting is being framed as a possible turning point in the long-running Ukraine conflict, leaders in Brussels, Berlin, Paris, Warsaw, and London…
The AUD/USD exchange rate and the ASX 200 Indices held steady on Monday morning as traders waited for the upcoming Reserve Bank of Australia (RBA) interest rate decision. The ASX 200 was trading at $8,840, a few points below the all-time high of $8,860. On the other hand, the AUD/USD exchange…
Shares of State Bank of India (SBI) gained more than 2.2% during early trading on Monday after the country’s largest lender reported better-than-expected June quarter earnings. The stock opened at Rs 817.30 following the announcement of a 12% year-on-year increase in standalone net profit to Rs 19,160 crore in Q1FY26,…