Author: Press Room

By Jamie McGeever ORLANDO, Florida (Reuters) – The Federal Reserve could be set to follow its historic interest rate-hiking campaign with another policy milestone – ending a tightening cycle with negative real rates. There are a few variables at play – not least incoming economic and inflation data – but it is not unreasonable to think the Fed’s most aggressive rate-hiking campaign in 40 years could end with the real policy rate still below zero. This is what interest rate futures markets are currently indicating. If it comes to pass, it will be the first time in at least 50…

Generative Artificial Intelligence (AI) — epitomized by ChatGPT — is the high tech story of 2023. I’m curious whether Microsoft’s $13 billion investment in ChatGPT’s parent, OpenAI, would add meaningful value to the tech giant’s revenue. This week I learned analysts estimate OpenAI will add between $30 billion and $40 billion to Microsoft’s top line. But is that amount significant enough to propel Microsoft‘s stock — which is up 19% this year (more than the S&P 500’s 6.6%)? I see two reasons why ChatGPT could add significantly to Microsoft’s revenues: The generative AI market is growing at a 31% average…

The 2023 banking crises unfolded at lightning speed, exposing how risk can quickly emerge from unsuspected nooks of the financial system. Silicon Valley Bank (SVB VB ), Signature Bank, and Credit Suisse folded within a couple of weeks, while First Republic Bank is teetering at the brink. The hasty failures shook confidence and brought a sense of déjà vu – flashback to the financial meltdown of 2008-2209. During financial turmoils, governments have repeatedly stepped forward as the savior of last resort, recently as in 2008-2009 and now in 2023. For decades, Traditional Finance (TradFi)infrastructure and the surrounding regulatory oversight environment…

Walmart has filed a lawsuit against credit card partner Capital One. In a Friday filing in the U.S. District Court for the Southern District of New York, Walmart said it did so in a move to request a “judicial declaration of its right to terminate the contract” it has with Capital One for the bank exclusively issuing its private label and co-branded credit cards. Walmart had given Capital One a contract termination notice the prior day, according to both the Arkansas-based retailer’s court document and a Securities and Exchange Commission (SEC) filing from Capital One. A Walmart spokesperson told FOX Business on…

Attorneys for former President Donald Trump are trying to block ex-Vice President Mike Pence from testifying in a special counsel investigation of Trump’s efforts to overturn the 2020 election, NBC News reported Monday.The latest move in the sealed court proceedings came less than a week after Pence said he would not fight a judge’s order for his testimony before the federal grand jury involved in the probe.Trump’s legal team has appealed that order from U.S. District Judge James Boasberg in Washington, D.C., NBC reported, citing a source familiar with the litigation. The notice to the U.S. Court of Appeals for…

This story is part of CNBC Make It’s Millennial Money series, which details how people around the world earn, spend and save their money.Chi Baik has never earned as little income as she does today — or had higher living expenses.The 26-year-old recently halved her $60,000 salary as a teacher outside Washington, D.C., to move to Seattle for a Ph.D. program, where she lives on a roughly $27,000 in yearly income. She used to pay $800 to split a townhouse with friends, but now spends $1,157 for 240-square-foot micro-studio.”I didn’t even know they made apartments this tiny,” Baik tells CNBC Make It.Money…

Under Elon Musk, Twitter has antagonized multiple major news organizations by labeling them state-funded media, appears to have eased restrictions on Russian government accounts and made crude jokes on the front of its headquarters and on Musk’s own Twitter display name. And that’s just this weekend. Musk’s antics, which only seem to have escalated this month, threaten to further erode Twitter’s brand value. For months, the company has struggled to retain advertisers and supplement its declining ad business — which previously comprised 90% of its annual revenue — by convincing users to pay up for its Twitter Blue subscription service.…

Watch full video on YouTube

The Bitcoin price jumped back into the $29,000s on Monday and, according to some exchanges, hit its highest level since June 2022 in the $29,300s (some exchanges had the BTC price remaining just below its February 24 high).Though volumes remain lower than usual for a Monday given the closure of most major traditional asset markets in Europe and the Americas for the Easter holiday, Bitcoin is nonetheless on course to post its largest one-day gain in nearly two weeks.At the time of writing, BTC was last changing hands in the $29,200s, up over 3% on the day with slightly over…

Governments and investors in the Middle East are pouring money into Western media and entertainment. US investors are eager to take the money as other funding sources have dried up.  Insider broke down the sources of funding from Saudi Arabia, Qatar, and United Arab Emirates. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they’re finding plenty of takers.Attention has focused on investments from Saudi Arabia, which is pumping money into entertainment, tourism, and other industries to diversify its economy and present itself as a cultural reformer. Many…