Jaque Silva | SOPA Images | Lightrocket | Getty ImagesIn late 2022, OpenAI’s launch of ChatGPT spurred an explosion of interest in the possibilities for artificial intelligence.Within months, some of the biggest tech companies in the world, including Microsoft, Meta and Google, joined the party, launching their own AI chatbots and generative AI tools. By the end of 2023, Nvidia proved it was the only company in the world positioned to make huge amounts of money by powering those services.Fast-forward to 2024, and a big theme in AI involves our consumer favorite gadgets, with tech companies trying to bring AI…
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The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. Nurphoto | Getty ImagesSome employees of British pharmaceutical giant AstraZeneca have been detained by police in China as part of an investigation, the company confirmed Thursday.”We are aware a small number of our employees in China are under investigation and we have no further information to share at this point,” an AstraZeneca spokesperson told CNBC by email, without disclosing details on what the investigation concerns.The confirmation came in response to reports earlier Thursday from Bloomberg News, which said that there were five current and…
Alvaro Gonzalez | Moment | Getty ImagesLayoffs soared in August, hitting their highest total for the month in 15 years, while year-to-date hiring reached a historic low, outplacement firm Challenger, Gray & Christmas reported Thursday.Announced job cuts totaled 75,891 for the month, lurching 193% higher than July. Though the total was just 1% higher than the same month in 2023, it was the highest number for August going back to 2009, as the economy was still escaping the worst of the global financial crisis.On the hiring front, companies said they were adding just 6,101 new workers, up by nearly 2,500…
A Tesla Model S car equipped with Autopilot.David Paul Morris | Bloomberg | Getty ImagesTesla said it will launch its “Full Self Driving” driver assistance product in Europe and China early next year.In a post on the X social media platform, Elon Musk’s electric vehicle company on Thursday said that the service — which comes as a paid add-on feature for Tesla customers — is slated for launch in the two regions in the first quarter of 2025, “pending regulatory approval.”Tesla is yet to receive regulatory permission to launch its FSD product in Europe and China, but Musk in July…
As September kicks off, Wolfe Research is spotlighting some key stocks to watch for the month ahead. Though August closed out with stocks rebounding from the global sell-off earlier that month, the major averages have been off to a rocky start in September. In fact, the month began with all three indexes suffering their worst days since the Aug. 5 rout. As investors brace for more potential turmoil, Wolfe updated its Alpha List, which is an inventory of the firm’s high-conviction stock picks that it thinks are set to break out over the next year. In its September update, Wolfe…
A Verizon telecommunications truck is parked on a street in Washington, DC June 11, 2019.Eva Hambach | AFP | Getty ImagesVerizon said on Thursday it would buy Frontier Communications in an all-cash deal valued at $20 billion, as the U.S. wireless carrier looks to boost its fiber network.Shares of Frontier Communications fell more than 9% in premarket trading. Verizon climbed about 1%.Verizon has offered $38.50 per Frontier share held, a premium of 37.3% to Frontier’s closing price on Sept. 3, before reports of a potential acquisition emerged.The acquisition, which is expected to close in about 18 months, will help Verizon better…
A ‘Now Hiring’ sign posted on the window of a business looking to hire workers on May 05, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todaySecond-day dropOn Wednesday, the S&P 500 and Nasdaq Composite fell for a second day, but the Dow Jones Industrial Average managed to buck the trend with a slight rise.…
(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A chipmaker and an auto giant were among the stocks being talked about by analysts on Thursday. Bank of America reiterated Nvidia as a top pick, noting the recent decline in the stock creates a buying opportunity. Meanwhile, Wolfe Research downgraded General Motors to peer perform. Check out the latest calls and chatter below. All times ET. 5:42 a.m.: Wolfe downgrades General Motors Wolfe Research is moving to the sidelines on General Motors given the automaker’s…
China’s President Xi Jinping (C) and his wife Peng Liyuan pose for a group photograph with leaders from African nations ahead of a dinner reception during the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing on September 4, 2024. Ken Ishii | Afp | Getty ImagesChinese President Xi Jinping said Thursday that China will provide 360 billion yuan (more than $50 billion) in financial support to Africa over the next three years.Xi spoke on the second day of the ninth Forum on China-Africa Cooperation Summit, which is expected to deliver new policies and cooperation agreements…
Federal Reserve Chair Jerome Powell announces interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin Building in Washington, D.C., on June 12, 2024.Kevin Dietsch | Getty ImagesA deeper interest rate cut from the Federal Reserve this month could spook financial markets and send the wrong message about an imminent risk of recession, according to one economist.It comes as policymakers at the U.S. central bank are widely expected to start lowering interest rates when they meet on Sept. 17-18, with investors closely monitoring economic data for clues on just how big a rate cut…
