Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday. Other lenders in the facility include Coatue and DigitalBridge, as well as BlackRock, PIMCO, and […]
Massachusetts securities regulators have opened an investigation into the ways in which investment firms use artificial intelligence in their interactions with investors, citing concerns about the technology’s potential unchecked use. Massachusetts Secretary of State Bill Galvin, the state’s top securities regulator, on Thursday announced that his office had sent letters of inquiry to a number […]
The Dow and the S&P 500 slipped in choppy trading on Thursday as a jump in bonds yields, downbeat corporate earnings and a slew of economic data pointing to stubborn inflation kept investors on edge. Market participants have been keeping a close watch on data as they fear the Federal Reserve may stick to its […]
Warner Bros Discovery warned Thursday that the dual Hollywood strikes by writers and actors could hit its flagging studio business already bruised by high-profile box office flops including “The Flash.” The strikes have disrupted most of the production for the fall TV season and halted work on films as workers battle over pay in the streaming […]
Hyundai Motor and Kia said on Thursday they are recalling more than 91,000 newer vehicles in the United States because of fire risks and urged owners to park outside and away from structures pending repairs. The recall covers Hyundai 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles and 2023-2024 Seltos and 2023 Kia Soul, Sportage vehicles. […]
Urgent solutions are needed to stem the massive destruction of natural and cultural wealth in the Amazon rainforest, with deforestation in Brazil on the rise over the past seven years, reaching levels not seen since 2008 . Stimulating the bioeconomy – economic activities that do not destroy forests, instead unlocking natural capital from standing trees – […]
Foxconn will invest $600 million in two projects in India’s Karnataka to make casing components for iPhones and chip-making equipment, signaling its growing interest in the south Asian nation as it spreads bets beyond China. Some $350 million will go towards setting up the iPhone component facility, which will generate 12,000 jobs, while Foxconn will tie […]
CVS Health said on Wednesday it has eliminated about 5,000 non customer-facing roles as it seeks to rein in costs after a recent spree of acquisitions. CEO Karen Lynch said on an earnings conference call that the $496 million restructuring charge recorded during the second quarter was related to the job cuts and certain impairment charges. […]
Deep trade agreements are widely used by governments in developing countries to boost their firms’ exports. This column combines data on firm-level exports for a large set of developing countries with detailed information on the content of trade agreements to investigate these effects. It shows that deep trade agreements boost overall firm exports, but this […]
Lumen Technologies reported a massive quarterly net loss of $8.74 billion on Tuesday, hurt by an impairment charge of nearly $9 billion in the second quarter. Shares of the Monroe, Louisiana-based company, which has lost more than 61% of their value this year, dropped more than 8% in trading after the bell. The company, whose second-quarter […]
