Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley’s artificial intelligence darlings. Oil-rich nations like Saudi Arabia, United Arab Emirates, Kuwait and Qatar have been looking to diversify their economies, and are turning to tech investments as a hedge. In the past year, funding for AI companies by … Read more
Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week’s meeting because inflation is falling even faster than he had expected. Citing recent data on consumer and producer prices, Waller told CNBC that the data is showing core inflation, excluding food and energy, in the Fed’s preferred … Read more
The Masimo logo is displayed at Masimo headquarters in Irvine, California, on Dec. 27, 2023. Mario Tama | Getty Images Activist investor Politan Capital won the two board seats it was seeking at medical technology company Masimo, defeating founder and CEO Joe Kiani and another director, Chris Chavez, at the shareholder vote. Masimo shares rose … Read more
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the … Read more
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market … Read more
Intel CEO Pat Gelsinger holds a sample of a wafer during his keynote speech at the Computex conference in Taipei on June 4, 2024. I-hwa Cheng | AFP | Getty Images Intel shares jumped 8% in extended trading on Monday after the company said it plans to turn its foundry business into an independent unit … Read more
US Federal Reserve Chair Jerome Powell arrives to testify before the Senate Banking, Housing, and Urban Affairs Hearings to examine the Semiannual Monetary Policy Report to Congress at Capitol Hill in Washington, DC, on July 9, 2024. Chris Kleponis | AFP | Getty Images Federal Reserve officials head into their policy meeting Tuesday closer to … Read more
A Clemson Tigers helmet on the field of last season’s College Football Playoff National Championship Game. Clemson is among the NCAA Division I major conference programs to recently have football players test positive for Covid-19, adding more uncertainty to the planned start of college football season. Alika Jenner | Getty Images DirecTV and Disney have … Read more
Pfizer‘s experimental drug for a common, life-threatening condition that causes cancer patients to lose their appetite and weight showed positive results in a midstage trial, the drugmaker said Saturday. Patients with the condition, called cancer cachexia, who took Pfizer’s treatment saw improvements in body weight, muscle mass, quality of life and physical function, according to … Read more
Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019. Smith Collection | Gado | Archive Photos | Getty Images Activist investor Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing for a shakeup to the company’s board. In … Read more
