Author: Press Room
The writer is founder of Sifted, an FT-backed site about European start-upsThe British mathematician IJ Good was among the first to speculate about what would happen when computers outsmarted humans. One day, he wrote, we would build an ultra-intelligent machine that could design an even more intelligent machine by itself, triggering an “intelligence explosion”. “Thus the first ultra-intelligent machine is the last invention that man need ever make, provided that the machine is docile enough to tell us how to keep it under control.”Good’s speculations seemed fantastical when they appeared in 1964. They do not seem so fantastical today. Recent…
Sen. John Fetterman, who returned to Congress this week after receiving treatment for clinical depression, is speaking out about how his tough Senate race last year worsened his mental health. Fetterman, a Democrat from Pennsylvania, shared with People magazine in an interview published Wednesday that criticism about whether he could serve effectively following his stroke was particularly painful. “These kinds of personal things accelerated the depression,” Fetterman said. Fetterman checked himself into Walter Reed National Military Medical Center in February. A statement released by his office at the time said the freshman senator had dealt with “depression off and on…
The Anheuser-Busch InBev S.A. ADR BUD, -0.32% advanced 2.50% to $65.97 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX, -0.64% falling 0.01% to 4,154.52 and Dow Jones Industrial Average DJIA, -0.45% falling 0.23% to 33,897.01. Anheuser-Busch InBev S.A. ADR closed $1.12 below its 52-week high ($67.09), which the company reached on March 31st. The ADR demonstrated a mixed performance when compared to some of its competitors Wednesday, as Kirin Holdings Co. Ltd. ADR KNBWY, -1.00% fell 1.00% to $15.78, San Miguel Corp. SMGBF, +6.82% rose 6.82% to…
By Sabela Ojea Avenue Therapeutics Inc. on Monday said it received meeting minutes from the Food and Drug Administration for the development of intravenous Tramadol, a pain killer. Shares of the specialty pharmaceutical company jumped 16% to $1.34 in after-hours trading. Digital Brands Group Inc. posted a wider loss in its latest quarter. Shares of the manufacturer and seller of apparel dropped 16% to $1.22 in after-hours trading. Write to Sabela Ojea at [email protected]; @sabelaojeaguix Read the full article here
The U.S. Supreme Court on Wednesday extended access to an abortion pill through Friday. Abortion opponents are seeking to roll back federal government approval of the drug, mifepristone. The Biden administration and drug maker Danco Laboratories want the high court to reject limits on the drug’s use. In an order last Friday, the Supreme Court put restrictions on hold through today to consider an emergency appeal. Read the full article here
© Reuters. FILE PHOTO: A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly//File Photo/File Photo -Bed Bath & Beyond Inc is preparing to file for bankruptcy as early as this weekend, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Shares of the company tumbled nearly 23% to 38 cents in after hours trading. They are down about 86% since the company said in January that it was exploring options including bankruptcy. Once considered a category killer in home goods, the Union,…
By Clark Mindock NEW YORK (Reuters) -Berkeley, California, cannot ban hookups in new buildings because a U.S. federal law preempts its rule, a federal appeals court said Monday, siding with a challenge the state’s restaurant industry made. The 9th U.S. Circuit Court of Appeals in San Francisco said Berkeley’s 2019 ban on new gas hookups effectively barred appliances that use the fuel, and that the U.S. Energy Policy Conservation Act preempts such a move. The federal appeals court is the first to weigh in on bans against new natural gas hookups. New York City, San Francisco, San Jose and Seattle…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Stocks may be treading water as investors digest a mixed flow of U.S. earnings and red hot UK inflation is pushing up global bond yields, but investors in Asia with a glass half full outlook on Thursday might want to latch on Wall Street’s volatility. Or rather, lack of it. The , also known as Wall Street’s fear gauge, fell on Wednesday to its lowest point since November 2021, and is below the average of the last 5, 10, 15 and 20 years.…
Homebuyers and real estate investors are hoping that interest rates come down. But is that what they really want? The average 30-year mortgage is 6.27%, a healthy decline from being north of 7% in November, but if interest rates go down materially in the next few months it will most likely be because the U.S. economy has fallen into an unattractive recession that reduces the demand for real estate. There has not been demand destruction for real estate overall since the Great Financial Crisis. With the exception of the gut punch the office market took because of COVID-19 and the…
We believe that Boeing stock (NYSE: BA) is currently a better pick than General Dynamics stock (NYSE: GD), given its better prospects. Boeing BA is trading at a slightly higher valuation multiple of 2.0x trailing revenues, vs. 1.6x for General Dynamics GD . Looking at stock returns, BA has outperformed GD and the broader indices. While BA is up 12% in the last twelve months, GD is down 7%, and the S&P500 index is down 7%. There is more to the comparison, and in the sections below, we discuss why we believe BA stock will offer better returns than GD…
