Markets - CybAI news

14 Aug

EON Boosts Spending on Energy Transition as Europe Electrifies

stp2y0 CommentsRAG modelsDecarbonization, Earnings, europe, germany, Government, industries, infrastructure, Leonhard Birnbaum, Markets, regulation, Taxes, Technology, Utilities

EON SE ramped up investments more than 20% in the first half as the German utility expands a massive network of cables that’s helping to drive the energy transition. As one of Europe’s largest distribution-grid operators, EON plays a key role in the economy’s electrification. The continent aims to be climate-neutral by the middle of the century, an endeavor that requires a huge build-out of grids so that millions of clean-energy generators can be connected. Source link lol

14 Aug

Dip Buyers Plow Record Cash Into Megacap Fund Dominated by Tech

stp2y0 CommentsRAG modelsAPPLE INC, artificial intelligence, ETF, Interest Rates, INVESCO LTD, Markets, META PLATFORMS INC-CLASS A, NVIDIA CORP, PLOW, S&P 500 INDEX, stocks, Technology

Investors are back lavishing millions onto megacaps as the high-flying tech stocks resume their climb, shrugging off the vestiges of last week’s market meltdown.Traders poured a net $210 million into the Invesco S&P 500 Top 50 ETF (ticker XLG) on Monday, the biggest one-day influx in the fund’s nearly 20-year history, data compiled by Bloomberg show. The record inflow — and fourth straight one — pushed the ETF’s assets up by 4% to $5.3 billion, with nearly half of that attracted in the past year alone. Source link lol

14 Aug

Tencent’s Buyback Plan in Focus as Chinese Tech Rivals Catch Up

stp2y0 CommentsRAG modelsALIBABA GROUP HOLDING-SP ADR, Earnings, finance, GOLDMAN SACHS GROUP INC, Hong Kong, JULY SARL/CAEN, Markets, MEITUAN-CLASS B, Ronald Yan, Technology, TENCENT HOLDINGS LTD

Investors will scrutinize any comments from Tencent Holdings Ltd. about its buyback plans during Wednesday’s quarterly results announcement as its competitors catch up with its spending levels.Tencent has forked out almost $8 billion this year to repurchase its Hong Kong-listed shares, more than any other company on the exchange, according to data compiled by Bloomberg. The firm is widely expected to keep spending as its total outlay this year is only about 60% of the $12.8 billion it projected for the whole of 2024. Source link lol

13 Aug

Intel, Pinched by Losses, Sells Stake in Chip Designer Arm

stp2y0 CommentsRAG modelsEarnings, Government, INTEL CORP, IPOs, japan, jobs, Markets, regulation, SOFTBANK GROUP CORP, Technology, Utilities

Intel Corp., which is slashing jobs and expenses in a bid to turn around the business, sold its holdings in chip technology creator Arm Holdings Plc during the second quarter. The company reported in a regulatory filing Tuesday that it no longer owns the 1.18 million shares it held three months earlier. Based on the average price of Arm’s stock during that period — $124.34 — the sale would have raised about $147 million for Intel. Source link lol

13 Aug

Nvidia Rebound Adds $400 Billion in Market Value Over Four Days

stp2y0 CommentsRAG modelsAMAZON.COM INC, artificial intelligence, Earnings, Hedge Funds, JULY SARL/CAEN, Markets, MICROSOFT CORP, NVIDIA CORP, retail, S&P 500 INDEX, Technology, Valuation

It’s been a rough six weeks for Nvidia Corp. shareholders. A historic dip that erased record market value from the company was followed by a four-day stretch of stomach-churning volatility. Now, though, signs are emerging the worst might be over.The chipmaker’s shares have surged nearly 17% in the past four sessions, adding more than $400 billion in market value to one of the biggest companies in the world. The rebound has propelled the broader market higher as well, with Nvidia accounting for about 22% of the S&P 500’s gain over that span, double the contribution of any other single stock.…

13 Aug

Musk’s X Ordered to Pay Compensation to Dismissed Irish Employee

stp2y0 CommentsRAG modelsBarry Kenny, Culture, Elon Reeve Musk, Employment, europe, Ireland, Markets, social media, Social Network, Technology, TWITTER INC, United States

Elon Musk’s X has been ordered to pay compensation to a former staff member of its Irish unit in an unfair dismissal case.The social network platform formerly known as Twitter was ordered to pay out over €550,000 ($602,640) to the former employee, Ireland’s Workplace Relations Commission, the state body responsible for adjudicating employment disputes, said on Tuesday. It is the largest sum the agency has ever awarded, according to Irish broadcaster RTE. Source link lol

13 Aug

Coinbase Returns to Hawaii Seven Years After Exiting Market

stp2y0 CommentsRAG modelsbitcoin, blockchain, business, COINBASE GLOBAL INC -CLASS A, cryptocurrencies, cryptocurrency, Faryar Shirzad, Hawaii, Markets, policy, regulation, SEVEN, Technology, US Securities and Exchange Commission

After a seven-year absence, Coinbase Global Inc. said it will resume offering crypto services to residents of Hawaii, the only state where it didn’t operate. The biggest US digital-asset exchange credited changes in local regulatory guidance with its decision to return to the Aloha State, which is home to about 1.4 million people. Hawaiians will now be able to trade cryptocurrencies and earn interest on their holdings through staking, a process where tokens are used to facilitate blockchain transactions, the San Francisco-based company said in a blog post Tuesday. Source link lol

13 Aug

Shein Hires Former EU Official to Bolster Lobbying as IPO Nears

stp2y0 CommentsRAG modelschina, Christian Democratic Union of Germany, environment, europe, germany, IPOs, london, Markets, PDD HOLDINGS INC, policy, regulation, Technology

Shein has enlisted a former top European Union official to bolster its lobbying efforts across the region, taking a more active stance toward potential regulatory scrutiny as it plans a stock market debut in London.The online fashion retailer hired former EU budget commissioner Günther Oettinger as a consultant to help it navigate the bloc’s policy environment, a company representative said. Shein faces a raft of issues including a debate whether to impose customs duties on cheap parcels — a potential game-changer for Shein and other low-cost online retailers like PDD Holdings Inc.’s Temu. Source link lol

13 Aug

Mercuria Adds Former IXM Lead and Zinc Chief in Metals Hiring Spree

stp2y0 CommentsRAG modelsCommodity Futures, Futures Markets, Generic 1st 'HG' Future, Markets, science, Technology

Mercuria Energy Group Ltd. is hiring the former head of lead and zinc at rival trader IXM SA, the latest senior addition in a major push into metals in recent months.Xavier-Alexandre Ortiz will join Mercuria in the same role once his gardening leave ends in the next few months, according to people familiar with the matter. He worked at IXM for almost 14 years before leaving the company in June. Source link lol

13 Aug

Mercedes, BMW Reveal Battery Makers Amid Fire Fears in Korea

stp2y0 CommentsRAG modelsBAYERISCHE MOTOREN WERKE AG, BLOOMBERGNEF, business, china, Government, hyperdrive, HYUNDAI MOTOR CO, Incheon, industries, KIA CORP, Markets, media, MERCEDES-BENZ GROUP AG, South Korea, Technology

The South Korean units of Mercedes-Benz Group AG and BMW AG disclosed the names of the companies that supply their electric-vehicle batteries for the first time after an EV explosion in the country prompted a nationwide safety investigation. The German carmakers revealed the battery suppliers for their EV models Tuesday on their websites, after Hyundai Motor Co. and Kia Corp. shared the names of their battery makers in recent days. At a meeting Tuesday, the government said it planned to advise all EV makers to voluntarily disclose the names of battery suppliers, and offer free inspections to owners. Source link…