Tag: TMT
-
Hindenburg shuts down Jack Dorsey’s payment firm Block, shares collapse
March 23 (Reuters) – Hindenburg Research announced short positions in Block Inc (SQ.N) on Thursday, claiming the Jack Dorsey-led payments company overstated its user numbers and underestimated its customer acquisition costs. Shares of Block fell 20% to $57.85 in premarket trading after the report. If losses continue through the session, the stock could post its […]
-
The US SEC threatens to sue Coinbase for some crypto products
March 22 (Reuters) – The US Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, straining the largely unregulated industry to stand. Shares of Coinbase fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it […]
-
GameStop’s surprise profit causes short squeeze, meme stocks soar
March 22 (Reuters) – Meme share GameStop Corp (GME.N) rose nearly 40% on Wednesday as the video game retailer’s first profitable quarter in two years squeezed bearish investors and sparked a rise in other stocks popular with retailers . AMC Entertainment Holdings Inc (AMC.N) gained 3.4%. AMC and GameStop were at the heart of a […]
-
Nvidia announces technology to accelerate chip design at AI conference
March 21 (Reuters) – Nvidia Corp. (NVDA.O) Chief Executive Jensen Huang unveiled a new product on Tuesday to accelerate semiconductor design as it rolled out a range of new artificial intelligence technologies based on its chips and software. Huang made the remarks at GTC, the company’s annual conference for software developers. Analysts look forward to […]
-
Cryptoverse: Bitcoin passes bank stress test
21 March (Reuters) – As the crisis haunts the traditional world of stocks and bonds, bitcoin suddenly looks like a safe haven. The notoriously volatile cryptocurrency seems positively healthy and savory, just as a banking collapse drives markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 […]
-
Wall St Week Ahead: Declining Bond Yields Bolster Equities Allure Ahead of Fed Meeting
NEW YORK, March 17 (Reuters) – US equities have gained an unexpected ally in recent days: a historic fall in bond yields. U.S. Treasury yields fell sharply this week, with some maturities marking the biggest declines in decades, as investors bet the Federal Reserve is likely to curb its aggressive rate hike to prevent the […]
-
China’s answer to ChatGPT? Baidu shares tumble as Ernie Bot disappoints
Ernie’s launch comes as Google, Microsoft step up AI game Baidu shares tumble as CEO gives short video presentations Analysts say scripted event, pre-recorded videos disappointed Ernie can do math, write poems, generate images and video BEIJING/HONG KONG, March 16 (Reuters) – China’s Baidu on Thursday unveiled its long-awaited AI-powered chatbot known as Ernie Bot, […]
-
Meta to cut 10,000 jobs in second round of layoffs
March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares rose 6% on the news. The widely anticipated job cuts are part of […]
-
HSBC bails out the British branch of stricken Silicon Valley Bank
US authorities support savers The UK deal puts an end to frenetic weekend talks UK Chancellor of the Exchequer: Deposits safe LONDON, March 13 (Reuters) – HSBC (HSBA.L) on Monday bought the UK branch of stricken Silicon Valley Bank for a token pound, bailing out a major lender to Britain’s technology start-ups and mitigating the […]
-
Global markets prepare for aftershocks as SVB collapse ripples out
SYDNEY, March 13 (Reuters) – Markets were in for a bumpy ride this week as the fallout from the collapse of startup-focused lender Silicon Valley Bank (SVB), the largest US bank failure since the 2008 financial crisis, coincides with major economic data and policy meetings. S&P500 futures rose 1.4% after US authorities guaranteed that SVB […]