Author: Press Room

By Anjana Anil (Reuters) – Gold rallied to a record on Wednesday, building on stellar momentum driven mostly by bets for U.S. monetary easing, while autocatalyst palladium popped back above the $1,000 mark for the first time since Jan. 12. gained 0.8% to $2,145.09 per ounce as of 2:03 p.m. ET (1903 GMT) after hitting an all-time high of $2,152.09 earlier in the session. U.S. settled 0.8% higher at $2,158.2. Silver added 1.9% to $24.15. Gold got an additional fillip as the dollar fell after Fed Chair Jerome Powell indicated a rate cut later this year. [USD/] [US/] “Gold is…

WASHINGTON (Reuters) – The U.S. House of Representatives overwhelmingly passed a bill on Wednesday that would give TikTok’s Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app, or face a nationwide ban. Here is a look at the effort to ban the app, its chances in the U.S. Senate and what that would actually mean. Why are US officials trying to ban TikTok? U.S. officials warn TikTok’s management is beholden to the Chinese government. For example, China could use the social media app to influence the 2024 U.S. elections, Director of National Intelligence Avril…

If you keep an eye on the news, you might have read or heard scary headlines that the Social Security Trust Funds are projected to be exhausted in the year 2034, with the conclusion that Social Security will soon be bankrupt. While the first part of this sentence is true, the conclusion in the second part is not. Under current law, Social Security will never completely run out of money and will never be bankrupt. To learn why, let’s dig into the details. Will Social Security Ever Completely Run Out Of Money? Regarding the question whether Social Security will ever…

The Department of Justice sued Apple on Thursday, saying its iPhone ecosystem is a monopoly that drove its “astronomical valuation” at the expense of consumers, developers and rival phone makers.The lawsuit claims Apple’s anti-competitive practices extend beyond the iPhone and Apple Watch businesses, citing Apple’s advertising, browser, FaceTime and news offerings.”Each step in Apple’s course of conduct built and reinforced the moat around its smartphone monopoly,” according to the suit, filed by the DOJ and 16 attorneys general in New Jersey federal court.Apple shares fell more than 4% during trading Thursday.The Justice Department said in a release that to keep…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. U.S. stocks advanced Thursday as benchmark gauges built on their record-breaking performances in the prior session. The Nasdaq and Dow climbed 0.6% and 0.8%, respectively. The S & P 500 jumped 0.5% after the opening. The index hit above the 5,200 mark for the first time ever during Wednesday trading. All three stock benchmarks closed at new highs. Thursday’s move follows the conclusion of the Federal Reserve’s two-day policy meeting, during which central bankers left…

After four consecutive years of sales growth, sales of ultra-expensive Bentley cars and SUVs were down 11% last year. Bentley chief executive Adrian Hallmark, in a presentation to reporters, blamed “a level of emotional sensitivity” among the brand’s wealthy clientele. In particular, Bentley buyers were sensitive about high interest rates, a Bentley spokesperson explained later. Thirty percent of customers leased Bentleys last year, a figure that was “up significantly” compared to 2022, the spokesperson explained. This indicates that even rich buyers were sensitive to monthly payments on a purchased car. In general, monthly car payments have reached record levels in…

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Last updated: March 21, 2024 08:15 EDT | 2 min read In recent news, the UN stated that North Korea has been actively involved in “malicious” cyber activities and crypto theft, contributing to nearly half of its foreign currency revenue and funding its weapons programs. According to a recent report by a United Nations (UN) panel of experts, Pyongyang has been using cyber means to generate approximately 50 percent of its foreign currency income, with one member state divulging this information. Additionally, the panel’s findings indicate that 40 percent of North Korea’s weapons of mass destruction (WMD) programs are financed through illicit…

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Nvidia chips remain in high demand, especially from tech companies.Its CEO told analysts the company was trying its best to allocate them fairly.Mark Zuckerberg recently said Meta would own more than 340,000 Nvidia H100 chips by the end of 2024. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Nvidia’s CEO recently shed light on the allocation of its in-demand chips.The comments have brought Meta boss Mark Zuckerberg’s extensive stockpile back into the spotlight.Jensen Huang told investors on Wednesday that the company was doing its best to share the…