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Meta CEO Mark Zuckerberg attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 9, 2026. Brendan McDermid | ReutersMeta shares rallied on Friday, lifting their gains for the week to 15%, on pace for the best weekly performance since early 2024, as optimism builds around CEO Mark Zuckerberg’s artificial intelligence strategy. Three months after introducing Muse Spark, its first proprietary foundation AI model, Meta made two significant announcements this week. On Tuesday, Meta released Muse Image, a new AI model for creating images, and part of an…

U.S. President Donald Trump speaks to members of the press aboard the new Air Force One on July 8, 2026. Win Mcnamee | Getty ImagesPresident Donald Trump ousted the three remaining members of the Election Assistance Commission, with less than four months before midterm elections, the White House confirmed Friday.Democrats blasted Trump’s gutting of the EAC, an independent federal agency that helps administer election funds, calling it just the latest example of Trump’s efforts to subvert U.S. elections.Two Democratic commissioners — Thomas Hicks and Benjamin Hovland — were fired by email on Thursday, according to VoteBeat, which first reported the…

Kraken is preparing to reintroduce its app with agentic trading at its core, a development that could mark the next major competitive battleground for crypto exchanges, the company told CNBC exclusively.Agentic trading is when AI agents autonomously make trading decisions, execute transactions and potentially manage portfolios, based on human inputs. Unlike traditional automated systems that follow fixed rules, agentic platforms can evaluate multiple variables, learn from new information and pursue objectives defined by the human prompting it, within set parameters.Kraken said its platform will give users access to agents capable of continuously monitoring markets, identifying investing opportunities and executing trades…

Investing.com — SK Hynix’s American depositary receipts jumped 14% in their Nasdaq debut on Friday, extending investor enthusiasm for AI-linked chipmakers after the company raised $26.5 billion in a record U.S. share sale. ADR shares opened at $170, well above their offering price of $149. The ADRs traded roughly 17% premium to the Seoul-listed shares, partly due to limits on converting the South Korean stock into ADRs. The Nasdaq listing comes as semiconductor stocks have lost momentum in recent weeks amid concerns that spending on AI infrastructure could slow after a prolonged rally. Despite the recent weakness, SK Hynix shares remain up…

But that number had scaled up to 50,000 by this March, as the extent of its problems continued to grow. Then in late June, a German magazine reported that now, 100,000 jobs would go by 2030, along with the unthinkable: closing four German factories, something that has never been done in its history. But Volkswagen’s public statement on the restructuring plan makes no mention of job losses or factory closures—at least not directly. But it does call for a heavily edited model lineup, with half as many vehicles offered across all its brands. These will be “concentrated on the most…

A murder investigation has been launched into the death of Ann Widdecombe, police have confirmed. Devon and Cornwall Police said they are looking for the person responsible who they believe to be a white male. Police officers were called by the ambulance service to the home of the 78-year-old former Conservative and Reform UK politician on Dartmoor in Devon at about 11:40 BST on Thursday.Widdecombe was found dead within the property with serious injuries, police said.Det Ch Insp Ilona Rosson said: “This is an extremely tragic incident and our thoughts are very much with the family and friends of Ann…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Brussels has warned Meta that Instagram and Facebook’s endlessly scrolling feeds may breach the EU’s new content rules, as regulators intensify scrutiny of social media’s impact on children.In preliminary findings issued on Friday, the European Commission said it believed the group had failed to adequately assess and mitigate the risks posed by addictive design features that could have an impact on the physical and mental wellbeing of users, particularly children.The warning comes amid a growing global backlash against Big Tech and the…

Federal Reserve Chairman Kevin Warsh, who is making a point of getting to the point in his new role, did just that in his first news conference as chairman on June 17. “Persistently high prices are a burden for the American people,” he said. But one thing he left out about nationwide inflation is that in some states, prices are much less of a burden than they are in others. The cost of living is an important consideration when companies decide where to do business. A low cost of living can help them attract workers. It also means they might be able to…

Wall St steadies ahead of South Korean chip bellwether SK Hynix’s debut Source link

SK Hynix is set to debut on the Nasdaq on Friday, giving U.S. investors an opportunity to invest directly in South Korea’s second most valuable company. The stock will trade under the ticker symbol SKHYV, and SKHY as of Tuesday. The company’s American depositary receipts, or ADRs, were priced at $149, raising $26.5 billion for its aggressive expansion plans, which includes investing in new factories and equipment.”It’s a kind of dream, and now it’s a dream come true,” SK Hynix Chairman Chey Tae-won told CNBC’s Kristina Partsinevelos on Friday.SK Hynix trails only Samsung by market cap in its home country.…