Tag: Bloomberg

Intel to Sell Nearly Half of Irish Venture Stake to Apollo for $11 Billion

Intel Corp. has agreed to sell a stake in a venture that controls a plant in Ireland to Apollo Global Management Inc. for $11 billion, in a strategic move to bring in external funding for its massive expansion of factory network. This deal marks a significant step for Intel as it navigates its transformation strategy […]

Oil Prices Fluctuate Following OPEC+ Announcement of Increase in Production

The recent decision by OPEC+ to gradually increase oil production starting in October has sparked mixed reactions in the market. Despite concerns over the demand outlook and ample supply from non-OPEC countries, the alliance has agreed to ease production cuts that were implemented in response to the pandemic-induced demand shock. Some analysts, like Goldman Sachs […]

“Apple to Reveal AI-Generated Emojis and OpenAI Partnership at WWDC 2024”

“Apple is set to unveil AI-generated emojis, advanced AI tools, and a strategic partnership with OpenAI at WWDC 2024. Discover how Project Greymatter and other innovations will enhance user experience in iOS 18 and macOS 15.” Apple is set to unveil a slew of innovations related to artificial intelligence (AI) at its upcoming Worldwide Developers […]

Federal Reserve’s preferred inflation measure expected to decrease

The Federal Reserve’s cautious approach to interest rate cuts is supported by the upcoming release of the personal consumption expenditures price index minus food and energy. Economists expect this index to rise by only 0.2% in April, the smallest increase so far this year and a sign of relief from stubborn price pressures. This data […]

Tech Bulls Return, US Futures Rise: Market Update

US equity futures and Treasuries edged higher on Friday, partially recovering from the losses experienced the previous day. This drop was triggered by expectations that the Federal Reserve’s first interest rate cut would be delayed to December. Contracts for the S&P 500 and Nasdaq 100 indexes rose about 0.3%, with premarket gains seen in Micron […]

Gold prices surge to all-time high due to Federal Reserve rate-cut speculations and increasing demand for safe-haven assets

Gold Surges to All-Time High on Fed Policy Optimism and Geopolitical Tensions Gold prices soared to record levels on Monday, driven by increasing optimism that the Federal Reserve will implement monetary policy easing and escalating geopolitical tensions in the Middle East. The precious metal rose by as much as 1.4% to reach $2,450.07 an ounce […]

Markets Wrap: Global Stocks Surge as Investors Brace for US Inflation Data

Global equities are on the rise as a tech-led rally on Wall Street boosts optimism among investors. The market is heading for a fresh record, with many anticipating that Wednesday’s key US inflation report will not undermine the case for Federal Reserve interest-rate cuts. European stocks saw gains, while US equity futures remained steady. The […]

Novavax sees significant rise as it secures $1.2 billion licensing deal with Sanofi for vaccine

Novavax Inc. shares saw a significant surge following the announcement of a $1.2 billion licensing agreement with Sanofi, which includes the commercialization of a combined Covid-19 and flu shot. The agreement entails a substantial upfront payment of $500 million to Novavax, with an additional $700 million contingent on meeting development, regulatory, and launch milestones. Furthermore, […]

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