Markets - CybAI news

08 Aug

Xiaomi-Backed AI Chipmaker Black Sesame Falls in Hong Kong Debut as AI Frenzy Wanes

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Shares of artificial intelligence chipmaker Black Sesame International Holding Ltd. tumbled as much as 35% on their debut, dealing a blow to Hong Kong’s efforts to lure more technology listings. The Xiaomi Corp.-backed company’s shares fell to as low as HK$18.28 Thursday in the Hong Kong Stock Exchange and closed the day 27% lower. They had been priced at HK$28, the bottom of the marketed range in an initial public offering that raised HK$1.04 billion ($133 million). Source link lol

08 Aug

Deliveroo Customer Orders Rise as Demand Improves Across Markets

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Deliveroo Plc said the value of customer orders grew in the first half and that earnings for the year will be on the higher end of its forecast after demand rose at the UK food delivery platform.Gross transaction value rose 6% at constant currencies from a year earlier to £3.69 billion ($4.7 billion), the company said in a statement on Thursday. That was in line with the average estimate from analysts surveyed by Bloomberg. Source link lol

08 Aug

Rakuten Likely to Report Narrower Loss as Bond Redemptions Loom

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Rakuten Group Inc. looks set to report on Friday a narrower loss in the April-June quarter, which would shore up confidence in its ability to pay bonds due through next year.The focus is on billionaire founder Hiroshi Mikitani’s efforts to turn around his four-year-long foray into the saturated mobile market without a single profitable quarter. Investors are also seeking clarity on the Japanese online shopping mall operator’s delayed plan to combine its profit-churning financial arms. Source link lol

07 Aug

Byju’s US Judge Rejects Effort to Stop Payment to India Cricket

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A US judge refused to block a debt payment designed to free Byju’s from an insolvency case in India, telling American lenders to take their complaints about the transaction to a court in the home country of the educational tech firm.US Bankruptcy Judge Brendan Shannon rejected a lender request to block Riju Ravindran, brother of Byju’s founder, from paying more than $19 million to India’s governing board for cricket. A deal to clear the debt enabled Byju’s to win dismissal of an insolvency case in front of a judicial tribunal in India. Source link lol

07 Aug

Lumen Technologies Debt Rallies After Stock Jump, AI Demand

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Lumen Technologies Inc. debt rallied alongside a meteoric rise in the company’s stock after it announced higher demand for its services as a result of the artificial intelligence boom. The telecommunications company’s 4% bond maturing in 2027 rose 7.5 points on Tuesday to 72 cents on the dollar, according to Trace bond trading data. Notes tied to its Level 3 unit due 2028 jumped 10.5 points to 67.5 cents on the dollar the same day. Source link lol

07 Aug

Airbnb Gives Soft Outlook on ‘Signs of Slowing Demand’ From US

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Airbnb Inc. shares plunged by the most ever after the company issued yet another disappointing outlook and warned of slowing demand from US vacationers.Bookings rose 8.7% in the second quarter to 125.1 million, falling well below analysts’ estimates. And Airbnb saidBloomberg Terminal it expects “sequential moderation” of growth in bookings in the third quarter, too, signaling that results will disappoint analysts who had projected an 11% gain amid the peak summer travel season. Source link lol

07 Aug

UK Regulator Tells Online Services to ‘Act Now’ to Stop Riots

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The UK telecommunications regulator urgedBloomberg Terminal online service providers to take action to stop customers from using their platforms to incite violence, even though Ofcom’s new rules with stronger requirements to police online content aren’t yet in effect. “In a few months, new safety duties under the Online Safety Act will be in place, but you can act now – there is no need to wait to make your sites and apps safer for users,” said Gill Whitehead, Ofcom’s director for online safety, in a letter posted to the regulator’s website on Wednesday. Source link lol

07 Aug

HPE’s $14 Billion Juniper Deal Wins UK Antitrust Approval

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Hewlett Packard Enterprise Co.’s $14 billion deal to buy Juniper Networks Inc. was cleared by the UK’s antitrust watchdog, paving the way for the firm to expand its presence in networking.The Competition and Markets Authority said Wednesday it had cleared the tie-up after investigating whether it would cause a substantial lessening of competition in the UK. The EU similarly wavedBloomberg Terminal through the deal last week, saying it did not raise competition concerns in the markets examined. Source link lol

07 Aug

Micron Resumes Buybacks That Had Been Suspended Amid Downturn

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Micron Technology Inc. is resuming a stock buyback program that it had suspended nearly two years ago during an industry downturn. Shares gained on the news. The largest US maker of computer memory chips sells a vital component of artificial intelligence hardware — high-bandwidth memory — that works with processors from Nvidia Corp. to crunch data. While its earnings forecast last month failed to impress investors, the company has been hailed as one of the biggest potential beneficiaries of the generative AI boom. Source link lol

07 Aug

Disney Tops Views With First Streaming Profit; Parks Disappoint

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Walt Disney Co. gave a mixed picture as it reported third-quarter results on Wednesday, with weakness at its famed theme parks offsetting its first-ever profit in streaming. Disney’s US theme parks, which were buffeted by rising costs and tepid demand, missed Wall Street estimates for sales and profit. The company said its Disneyland Paris park suffered from a reduction in summer travel due to the Olympics, and noted some “cyclical softening in China.” Source link lol