The world’s largest and most influential development bank said on Wednesday it would lift its longstanding ban on funding nuclear power projects.The decision by the board of the World Bank could have profound implications for the ability of developing countries to industrialize without burning planet-warming fuels such as coal and oil.The ban has been formally in place since 2013, but the last time the bank funded a nuclear power project was 1959 in Italy. In the decades since, a few of the bank’s major funders, particularly Germany, have opposed its involvement in nuclear energy, on the grounds that the risk…
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For investors looking to capitalize on the popular quantum computing space, it’s better to cast a wide net, according to Michael Farr, CEO of Farr, Miller and Washington. Farr broke down his views on the red-hot quantum computing stocks, Dave & Buster’s and Amazon on CNBC’s “Three-Stock Lunch” Wednesday. Quantum ETF The longtime investor said it’s difficult to identify true winners in the crowded space, so investors should consider exchange traded funds like the Defiance Quantum & AI ETF . Quantum computing stocks skyrocketed Wednesday after Nvidia CEO Jensen Huang said at a developers conference that the space was reaching…
It’s harder than ever to buy a home, and even those who manage to do it often have regrets about their purchase.Some 45% of homeowners have regrets about their current home, according to a recent survey from Bankrate. Their most common complaint: frustration over the price of maintenance costs and hidden fees.A typical American homeowner spends over $18,000 on non-mortgage home expenses every year, according to Bankrate’s June 2024 Hidden Cost of Homeownership Survey. In some states, such as Hawaii and California, the fees stack up even higher, reaching around $29,000 every year, per Bankrate’s estimate.These charges, such as internet…
VCV | Visual China Group | Getty ImagesGoogle on Wednesday added a Chief AI Architect to its leadership ranks as the company continues to prioritize artificial intelligence and add the technology to more of its products.The company tapped Koray Kavukcuoglu, Google DeepMind’s chief technology officer, for the new senior vice president position, the company confirmed Wednesday. Kavukcuoglu will report directly to Google CEO Sundar Pichai. Semafor first reported the executive change.Kavukcuoglu will help with product strategy and “accelerate how we bring our world-leading models into our products, with the goal of more seamless integration, faster iteration, and greater efficiency,” Sundar…
Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia, in 2018.Simon Dawson | Bloomberg | Getty ImagesU.S. crude oil futures rose more than 4% Wednesday on escalating tensions in the Middle East.Brent crude futures rose $2.90, or 4.34%, to close at $69.77 barrel. U.S. West Texas Intermediate crude gained $3.17, or 4.88%, to settle at $68.15.The U.S. is preparing a partial evacuation of its embassy in Iraq due to heightened security risks in the region, sources told Reuters. The U.S. military has authorized the “voluntary departure” of troops’ dependents from…
Under normal circumstances, moderating inflation and a weakening labor market would make an easy case for interest rate cuts. But these aren’t normal times, and a scattering of headwinds on the horizon have made Federal Reserve officials leery of easing monetary policy for fear that the inflation fight isn’t over. That sentiment is setting up an intensifying conflict between the White House and the central bank that could result in President Donald Trump taking the unusual step of naming a “shadow” chair whose responsibility it would be to watch over the Fed and Chair Jerome Powell until a permanent chief…
The American ambassador to Israel has said that it should be up to “Muslim countries” to build a Palestinian state on their territory instead of in the areas that much of the world recognizes as Palestinian lands.If the statements by Ambassador Mike Huckabee are confirmed as representing the U.S. administration’s position, it would be a sharp shift away from decades of American foreign policy on the Israel-Palestinian conflict. A State Department spokeswoman downplayed his remarks.“Muslim countries have 644 times the amount of land that are controlled by Israel,” Mr. Huckabee said in an videotaped interview with the BBC. “So maybe,…
David Paul Morris/Bloomberg via Getty ImagesThe annual inflation rate increased slightly in May as an uptick in grocery inflation somewhat offset lower prices at the gasoline pump.And while inflation was relatively tame, economists said they expect President Trump’s tariff policy to raise consumer prices in coming months — and that there was already some evidence of their impact.The consumer price index, an inflation barometer, rose 2.4% in the 12 months through May, up from 2.3% in April, the Bureau of Labor Statistics said Wednesday.’Calm before the inflation storm’That increase to the annual inflation rate was largely due to a data…
Wall Street analysts are optimistic heading into Oracle’s earnings release Wednesday after the bell. The cloud company is expected to earn $1.64 per share on revenue of $15.59 billion, LSEG said. Shares of the tech company have gained more than 7% this year. However, the highest price target on the Street suggests the stock could rise 13% from Tuesday’s close of $177.48. Most analysts have pointed to its Oracle Cloud Infrastructure, or OCI, business as a key asset in its portfolio. Strong bookings from OCI customers could continue to boost the company’s fundamentals. Here’s what analysts had to say heading…
Out of a universe of more than 10,000 tradable names, a strict technical screen we run at CappThesis recently surfaced just six stocks worth a closer look. One of them is Royalty Pharma (RPRX) , and we think the chart deserves our attention right now. There are four key reasons why RPRX stands out: 1. A bullish inverse head-and-shoulders pattern is nearing completion The first — and most importantly from our perspective — is a bullish inverse head-and-shoulders pattern has taken shape over the past several months. These patterns can mark a trend reversal or continuation of a trend. This…
