Author: Press Room
LONDON — The U.K. economy flatlined in February as widespread industrial action and persistently high inflation stymied activity.Data on Thursday showed a steady GDP in February, missing consensus expectations of 0.1% growth. Both the services and production sectors contracted, partly offset by a record 2.4% expansion in construction. This followed an upwardly revised 0.4% expansion in GDP in January, which means output grew by 0.1% in the three months to the end of February.Large-scale strike action has been carried out in recent months by teachers, doctors, civil servants and rail workers, among others — members of the sectors that were the…
Everything old is new again. Warner Bros. Discovery unveiled its super-streamer, Max, to the world on Wednesday, with Chief Executive David Zaslav touting the platform as a service “every member of the household” can go to for their television needs. Max unites some of the industry’s most storied brands under one roof, giving consumers access to a library of programming across WBD’s sprawling portfolio: films by Warner Bros., children’s content from Cartoon Network, premium shows by HBO and unscripted programming from HGTV, TLC, Food Network and many others. Zaslav signaled the package will also at some point be infused with…
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Bitcoin and Ethereum, along with gold and the euro, will outperform other investments as the US Federal Reserve (Fed) starts easing its interest-rate increases, argued Michael Novogratz, the founder of the US-based crypto financial services firm Galaxy Digital Holdings.A string of recent regional bank failures may lead to a potential credit crunch, as lenders take on fewer borrowers – in which case, the economy would slow down. As a response, the Fed would move to cut interest rates more aggressively than expected, Novogratz said to Bloomberg.Therefore, he argued,”The clearest trades have been and will continue to be long gold, long…
The news: Bloomberg has unveiled a generative artificial intelligence model aimed at using machine learning to carry out tasks in the finance industry.Here’s how it works: The company claims that BloombergGPT outperforms rival models on financial natural language processing tasks by “significant margins.” The AI platform is trained on a wide range of financial data based on Bloomberg’s extensive proprietary data sources. BloombergGPT is aimed at helping with tasks including analysis, news classification, and answering questions. It will be built into Bloomberg Terminals, assisting users with searching for and understanding data. In an accompanying research paper, Bloomberg outlined how the…
Florida researchers asked ChatGPT to analyze the sentiment of news headlines to forecast resulting stock moves. They said their study “demonstrates the value of ChatGPT in predicting stock market returns.” But ChatGPT still has flaws, and the researchers advise investors to not rely on it for investment decisions. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app ChatGPT can’t see the future, but it already has value for investors looking to predict future moves in the stock market. That’s according to a new research paper published…
Company description: US Foods Holding Corp. (NYSE:USFD) is a leading food service distributor in the United States, providing fresh, frozen, and dry food and non-food products to a wide range of customers. Its client base includes a range of establishments, including restaurants, hospitals, nursing homes, hotels, and retail locations, among others. US Foods operates distribution facilities and cash and carries. Share price: Data by YCharts US Food’s share price performance has been uneventful in the decade, with a monumental decline as a result of the COVID-19 pandemic. This is logical as based on the company’s clients, it was expected that…
SoftBank’s decision to sell its Korea-based venture capital arm to a company recently founded by the brother of its chief executive Masayoshi Son has drawn criticism from analysts over governance standards at the tech conglomerate.The Japanese group has denied any conflict of interest over the deal, but sellside analysts and governance experts have taken issue with the fact that the latest sale, despite its small size, is just one of several transactions at SoftBank involving its founder and his family.On Wednesday, the Japanese group said The Edgeof, a company established last month by entrepreneur Taizo Son, would buy SoftBank Ventures…
A trove of leaked classified Pentagon documents highlight US anxieties over growing Chinese and Russian influence in Latin America and Africa. Among the details are references to Russian mercenary group Wagner exploring a contract to fight criminal gangs in Haiti, and a Chinese company negotiating to build a deep water port in Nicaragua. One US military document describes a sweeping propaganda plan by Russian intelligence to shape public opinion in Africa, including peddling conspiracy theories about US biological labs with the goal of “realigning” African countries with Russia. Another document mentions Russian support for a Brazilian effort to establish a…
Shares of Tesla Inc. TSLA shed 3.35% to $180.54 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the NASDAQ Composite Index COMP falling 0.85% to 11,929.34 and Dow Jones Industrial Average DJIA falling 0.11% to 33,646.50. Tesla Inc. closed $183.53 short of its 52-week high ($364.07), which the company achieved on April 21st. Trading volume (149.0 M) remained 14.6 million below its 50-day average volume of 163.6 M. … Read the full article here
