Author: Press Room

LeapXpert is a communication platform that secures messaging apps for professional use. Business communication historically has been poorly regulated. LeapXpert used this 15-page pitch deck to raise a $22 million Series A+ round. This startup is helping companies ensure the messaging channels employees use to communicate professionally are safe and in compliance with regulation.As business communication expands beyond email to messaging apps like Signal, iMessage, and WhatsApp, companies open themselves up to security risks and struggle to meet regulatory record-keeping requirements. LeapXpert allows companies to record employees’ business communications while keeping their personal messages private.LeapXpert has raised $36 million to…

Eric Schmidt said a six-month pause on AI development would “simply benefit China.” The ex-Google CEO told the Australian Financial Review that concerns about AI “could be understated.” Instead of a pause, he said leaders should collectively discuss appropriate guardrails “ASAP.” 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 Eric Schmidt says the six-month moratorium on AI development supported by Elon Musk, Steve Wozniak, and other tech leaders would “simply benefit China” and called instead for tighter regulation.The former Google CEO told the Australian…

The Q4 Earnings Season for the Gold Miners Index (GDX) is finally over and it was a disappointing earnings season overall. Not only did several miners miss output guidance, but delivery against cost guidance was not what investors were hoping for, with many gold producers forced to move the goalposts (guidance range) entirely. In fairness, the cost misses were related to stickier than expected inflationary pressures and some miners had tougher years due to supply chain headwinds. That said, the result was that average AISC margins shrunk to ~$510/oz for the year, and have declined over 30% from FY2020 levels…

Monday brought a windfall for many investors in Chinese equities. Ten companies debuted on the main exchanges in Shanghai and Shenzhen, raising a combined $3.1bn. Pops in the share prices of as much as 200 per cent reflected undervaluation rather than strong growth expectations.The 10 are the largest group to list after China overhauled listing regulations. The reforms gave its main markets a US-style registration-based public offering system. They removed daily trading limit for the first five trading days following a listing. Previously, new stocks on China’s main exchanges could rise no more than 44 per cent. Shares had to…

The remarkable pace with which President Joe Biden has sought to remake the federal bench has been put into jeopardy by dual threats: Democratic Senate absences and a Senate rule that gives Republicans the ability to veto district court nominees for courts in their home states. It’s a combination that has Democrats increasingly concerned about the fate of future nominees at a time when the party had hoped to counteract years judiciary transformation under President Donald Trump. The latest blow came last week when Biden’s choice to fill a district court vacancy in Mississippi became the second nominee to be…

As the first quarter came to a close, some company insiders bought up shares on the open market. A GameStop (ticker: GME) director just made the first open-market stock purchase this year, while the CEOs of department-store chain Kohl’s (KSS) and avocado slinger Calavo Growers (CVGW) picked up millions of dollars of stock. All three stocks turned in performances last year that fell far short of the market. GameStop, Kohl’s, and Calavo stock dropped 50%, 49%, and 31% in 2022, respectively, compared with a 19% slip in the S&P 500 index. It’s a mixed bag so far in 2023, with…

By Sabela Ojea Boeing Co. has been awarded a $1.17 billion contract to deliver canister tactical and exercise missiles, blast test vehicles and training equipment to the U.S. Navy, the Department of Defense said Friday. The U.S. aircraft maker’s contract represents a modification to a prior ordering agreement secured in April 2021. Boeing would also procure weapon station support equipment and missile spares, among other technical instruments, as well as integrated logistics support, technical publications and field service representatives and training. Work will be performed in several locations in the U.S., and is expected to be completed by March 2025,…

The U.S. economy added 236,000 jobs in March, just shy of the 238,000 forecast by economists polled by the Wall Street Journal. The unemployment rate declined to 3.5% in March from 3.6% in February. The latest data was calculated before the collapse of Silicon Valley Bank and Signature Bank last month, an event that could lead to tighter lending criteria by banks in the months ahead. (The tech sector has shed more than 168,000 jobs since the start of 2023.) The U.S. created an estimated 311,000 jobs in February and 504,000 in January. Both easily surpassed most economists’ expectations, and…

Headline consumer inflation in Europe is decelerating, data released on Thursday showed. However, bond yields reversed initial losses as traders noted German CPI not falling as much as hoped and underlying price pressures remained stubbornly high, raising concerns the European Central Bank may need to keep raising interest rates. Consumer prices in Spain, the eurozone’s fourth biggest economy, rose 3.1% in the year to March, down sharply from the 6% increase recorded in February and below forecasts of 3.7%. The 20-month low for Spanish inflation was driven by plunging energy prices as tight conditions in the natural gas market eased…

© Reuters. FILE PHOTO: The moon rises behind the skyline and financial district in Toronto, November 25, 2015. REUTERS/Mark Blinch By Maiya Keidan TORONTO (Reuters) -Canadian dealmakers are optimistic about a return to strength in the second half of the year after mergers and acquisitions in the first quarter dropped to pandemic levels, belayed by higher borrowing costs and panic around a banking crisis. The collapse of regional banks Silicon Valley Bank and Signature Bank (OTC:) in the U.S. tightened credit markets, making funding difficult for deals. As the banking crisis abates and many global central banks move to the…