British pound faces further decline after worst month in a year
The British pound had its worst month against the US dollar in a year in September, and strategists aren’t showing much optimism for the rest of the year as growth expectations wane. Over the month, the pound fell 3.75% against the dollar, marking a decline not seen since the end of last summer. Back then, […]
Goldman Sachs reports surging Chinese demand for oil and copper
The investment bank has noted that China’s demand for copper has risen by 8% year-on-year, while interest in iron ore and oil increased by 7% and 6%, respectively, surpassing Goldman Sachs’ expectations for the entire year. “The strong demand growth is predominantly associated with a combination of strong growth in the green economy, completion of […]
Kneron, an AI chip manufacturer, secures $49 million and aims to compete with Nvidia
Kneron, a U.S. semiconductor startup, announced on Tuesday that it has secured another round of funding, seeking to expedite the commercialization of its artificial intelligence (AI) chips, with hopes of competing with Nvidia. The company revealed that it has raised an additional $49 million, bringing the total funding for this round to $97 million. Among […]
European markets expect lower opening due to potential long-term rate hikes
European markets are likely to retreat on Friday as the prospect of long-term higher interest rates emerges following several central bank decisions this week. Global stock markets have experienced a tumultuous week, with the pan-European Stoxx 600 falling by 1.3 percent. The U.S. Federal Reserve, on Tuesday, left interest rates unchanged but signaled that further […]
AI startup raises $100 million for corporate content creation
Writer Inc., a company that assists businesses in writing and summarizing a wide range of content, has secured $100 million in a deal that values the company at over $500 million. Led by CEO May Habib, Writer is the latest artificial intelligence startup to utilize large language models in a corporate setting. These large language […]
The world struggles with adequate Diesel production
Oil refineries worldwide are proving powerless to produce enough diesel, opening a new front in inflation and depriving economies of fuel that powers industry and transportation. On Thursday, U.S. prices surged past $140, the highest level for the year. The European equivalent has risen by 60% since summer. And the situation could worsen. Saudi Arabia […]
British digital bank Monzo, valued at $4.5 Billion, introduces new investment feature
The feature, named “Investments,” will allow customers to invest in several funds managed by asset management giant BlackRock. The launch is scheduled, enabling users to invest with a minimum amount of £1. This move puts Monzo in competition with well-established banks like Chase, which offers online investment management through its subsidiary Nutmeg, asset management firms, […]
Gold prices remain steady ahead of expected CPI data
Ceny zlata zůstaly v úterý stabilní, zatímco ceny mědi si udržely nedávné zisky na základě optimismu, že čínská ekonomika překonala nejhorší období svých obtíží. Precious metal prices experienced some relief in recent sessions as the dollar retreated from nearly a six-month high. However, the dollar stabilized during Asian trading on Tuesday and remained within reach […]
Investors turn to anticipated Arm IPO following Nvidia’s 200% stock surge
Arm is gearing up for an initial public offering (IPO) at a time when investors are showing significant interest in semiconductor and artificial intelligence companies. Arm aims to raise nearly $5 billion through its IPO, which could give it a valuation exceeding $50 billion. Demand is high, with Reuters reporting that the company may set […]
Apple launch set for Tuesday: What can we expect?
On Tuesday, Apple is gearing up to host its most important product unveiling of the year at its headquarters in Cupertino, California, where it’s expected to introduce new hardware, including the iPhone 15. Apple plans to present a slickly produced prerecorded video featuring key company members to unveil its new products. This video will be […]