By Noel Randewich and Medha Singh (Reuters) -Wall Street closed higher on Friday, with the S&P 500 and Dow Jones Industrial Average hitting intraday record highs, on bets that the U.S. Federal…
Author: Financial Edge Daily
Take Five: Cancel Summer?
LONDON (Reuters) – Pressure on Joe Biden to step out of the U.S. presidential election race, mounting expectations of a September Fed rate cut, Q2 earnings, an ECB meeting and Britain’s king…
Meta to roll back some restrictions on Trump’s Facebook, Instagram accounts
WASHINGTON (Reuters) -Meta said on Friday it was rolling back some restrictions that had applied to former U.S. President Donald Trump’s Facebook and Instagram accounts. The social media company indefinitely suspended Trump’s…
Musk donates to group working to elect Trump, Bloomberg reports
WASHINGTON (Reuters) -Billionaire Elon Musk has donated to a political group working to elect former U.S. President Donald Trump, Bloomberg reported on Friday, citing sources. The report did not indicate how much…
IBAT launches new lithium extraction technology in Utah
(This July 11 story has been officially corrected to fix the companies’ production run rate in a bullet and in paragraphs 1-3 and corrects royalty information in paragraph 16) By Ernest Scheyder…
Intel on track for cumulative software sales of $1 billion by end 2027, exec says
By Fanny Potkin SINGAPORE (Reuters) – Intel’s push into software is going well and the company could have cumulative software revenue of $1 billion by the end of 2027, Chief Technology Officer…
JPMorgan beats profit estimates on investment banking boost
By Niket Nishant and Nupur Anand (Reuters) – JPMorgan Chase beat estimates for second-quarter profit on Friday, as its investment banking business benefited from a resurgence in dealmaking and strong capital market…
Citi profit beats on surge in investment banking, services strength
By Tatiana Bautzer and Manya Saini (Reuters) -Citigroup beat Wall Street expectations for second-quarter profit on Friday, boosted by a 60% jump in investment banking revenue and gains in its services division,…
Tesla delays robotaxi launch to October from August, Bloomberg News reports
(Reuters) -Tesla is delaying the launch of robotaxi to October from August, Bloomberg News reported on Thursday, citing people familiar with the decision. Shares of Tesla were down more than 6%, ending…
New era of private credit growth raises concerns, Moody’s says
By Matt Tracy (Reuters) – The rapid growth of private credit lending beyond its traditional market presents potential future risks to the U.S. economy due to lack of oversight and transparency, according…