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By Nicole Jao NEW YORK, July 10 (Reuters) – U.S. drivers have seen prices climb again after weeks of steady declines, as renewed fighting between the U.S. and Iran lifted prices to their biggest weekly rise in eight weeks. Disruptions in the global refining system and robust U.S. fuel exports further tightened supplies, and average pump prices rose 6 cents this week to $3.88 a gallon on Friday, AAA data showed. It was the biggest weekly increase since mid-May. Renewed fighting between the U.S. and Iran over the Strait of Hormuz sent energy prices back up sharply this week. With…
The Apple Park campus stands in this aerial photograph taken above Cupertino, California, U.S., on Wednesday, Oct. 23, 2019.Sam Hall | Bloomberg | Getty ImagesApple on Friday sued OpenAI in federal court in Northern California, alleging trade secret theft, saying that the artificial intelligence lab took the iPhone maker’s intellectual property in order to develop its own consumer hardware. “This much is clear, however: at every level, from members of its Technical Staff to its Chief Hardware Officer, and in coordination with business partners, OpenAI has been stealing Apple’s trade secrets and confidential information,” the company said in a legal…
The Commerce Department on Friday moved toward easing export controls on the United Arab Emirates, including by saying it will “favorably review” export license applications for MGX, the UAE-backed investment firm that used a stablecoin linked to President Donald Trump’s family for its $2 billion investment in Binance.An unpublished version of a new 17-page rule viewable in the Federal Register includes one sentence about Commerce’s Bureau of Industry and Security favorably reviewing applications involving MGX semiconductors and servers bound for the UAE. The rule is scheduled to be officially published on Tuesday, July 14.Sen. Elizabeth Warren, a Massachusetts Democrat, quickly…
Next week promises to be a big one for markets, with investors anticipating the start of the second quarter earnings season and the release of key June inflation data — just as the U.S-Iran war threatens to reassert itself in a major way. The corporate reporting season kicking off next week is set to show a second straight quarter of earnings growth above 20%, an impressive feat that may confirm for investors that the bull case for equities remains intact. Just about all of the S & P 500’s returns year over year are tied to earnings growth, rather than…
SK Hynix CEO sees worst memory shortage in 2027, demand to outstrip supply beyond 2030 Source link
That is frankly unsurprising. But what about the more powerful Steam Machine? Valve That is frankly unsurprising. But what about the more powerful Steam Machine? Valve Well, thanks for nothing, I guess! Valve Well, thanks for nothing, I guess! Valve That is frankly unsurprising. But what about the more powerful Steam Machine? Valve Well, thanks for nothing, I guess! Valve Thus far, every such graphically unsupported Steam Deck game we’ve found on the Steam store is currently listed with an “Unknown” Steam Machine compatibility status. For all of these titles, Valve merely says it is “still learning about” the game…
A murder investigation has been launched into the death of politician Ann Widdicombe, after the 78-year-old was found with serious injuries in her Dartmoor home on Thursday. In a statement, Devon and Cornwall Police said a 26-year-old man was in custody. The Reform UK spokeswoman was last seen publicly in an interview on TalkTV on Wednesday. Read more on this story. Source link
Earnings season kicks off next week, and as usual, the big banks lead off. Here’s what the tape is telling me going in: for the past four weeks, financials’ relative rotation versus the broad market has been improving. Information technology — the market’s leader for as long as anyone can remember — flattened out four weeks ago and has been weakening over the last three. Relative strength doesn’t arrive overnight; it tends to develop over time, and sometimes it provides false signals (watch the accompanying video, and I’ll show you what I mean). But capitalizing on it does require some…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Sir Keir Starmer is next week set to sign Britain up to a €60bn EU defence loan scheme for Ukraine, as he seeks to use his last week in Number 10 to cement an improved post-Brexit relationship with Europe.The UK prime minister will commit to financial contributions to the scheme proportional to the value of the contracts awarded by Kyiv to British defence companies.Without paying, they would only be able to receive 35 per cent of the value of any contract.Downing Street…
Next week, several exchange-traded fund companies plan to hit the market with the latest ETFs offering a way to add leverage to bets on single stocks, in this case, on the South Korean chip giant SK Hynix, which began trading in the U.S. on Friday. The development should come as no surprise: similar SK Hynix portfolios are already among the most popular ETF trades in South Korea’s market. And there is nothing inherently wrong with the planned SK Hynix ETFs coming to the U.S. from companies including GraniteShares and ProShares. Demand for the stock that has effectively been off the…