Even though its quarterly earnings decreased, JPMorgan Chase announced its highest-ever annual profit and projected higher-than-expected interest income for 2024. In addition, the biggest US lender paid about $3 billion to top up a government fund that insures deposits. After purchasing the bankrupt First Republic Bank in May, JPMorgan was able to increase its net…
In posts on social networking site X on Friday, EU antitrust commissioner Margrethe Vestager claimed she met with CEOs of Qualcomm, Apple, and Alphabet to talk about compliance with regulations and competition policies. Vestager’s communications advisor said last week that she would address US CEOs of Apple, Alphabet, Broadcom, and Nvidia on European digital legislation,…
With prices rising over 200% last year—the greatest level in three decades—Argentina has unsulliedly surpassed Venezuela to become the Latin American nation with the highest inflation rate in 2023. The South American grain producer said on Thursday that prices had increased by 25.5% in December alone, for an annual inflation rate of 211.4%. The Venezuelan…
For the first time since 2021, Microsoft momentarily surpassed Apple (AAPL.O) as the most valuable corporation in the world after the latter’s stock had a poor start to the year due to mounting demand fears. Because Microsoft invested in ChatGPT producer OpenAI and took an early lead in generative artificial intelligence, the company’s shares have…
Honda Motor, the Japanese carmaker, has announced intentions to launch a new electric vehicle series in 2026, as it catches up with worldwide competitors in the transition to battery-powered vehicles. Japan’s second-largest automaker has been reluctant to ramp up EV sales, trailing European and American competitors like General Motors and Volkswagen while facing competition from…
Will they, or will they not? US regulators are putting crypto investors on edge as they decide whether to approve bitcoin exchange-traded funds (ETFs). Derivatives traders are already jumping in, wagering that the Securities and Exchange Commission will approve numerous ETFs this week, electrifying the market. Open interest, or the amount invested in bitcoin futures,…
Samsung Electronics Co Ltd announced a likely 35% loss in fourth-quarter operating profit on Tuesday, considerably worse than experts expected, as sluggish consumer demand remained in many of its businesses despite rising memory chip prices. The world’s top memory chip, smartphone, and TV maker said its operating profit decreased to 2.8 trillion won ($2.13 billion)…
US chipmaker Nvidia intends to start mass producing an artificial intelligence (AI) chip it created for China in the second quarter of 2024 in order to comply with US export regulations, according to two people with knowledge of the situation. Of the three processors Nvidia designed specifically for China to comply with regulations that were…
Google has started testing changes to the way companies can track people online. A new feature in the Chrome browser removes third-party cookies, which are little files that are stored on your device to collect analytics data, customise online adverts, and track browsing activity. It will first be offered to 1% of all global users,…
The desire for Ford Motor’s pickup trucks and crossover SUVs continued to drive the carmaker to its best annual auto sales performance since 2020 on Thursday, the day after many of its competitors announced double-digit increases in new vehicle sales. Sales of cars increased 7.1% to 1.99 million units in 2023, according to the Detroit…
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