Foxconn Hon Hai Technology Group signage during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Thursday, March 20, 2025. David Paul Morris | Bloomberg | Getty ImagesFoxconn on Wednesday said it is taking a stake in TECO Electric & Machinery Co., as it looks to supercharge its efforts to become a key player in building artificial intelligence data centers.The Taiwanese firm, formally known as Hon Hai, is looking to replicate the success it has had in consumer electronics in the world of AI. It’s a play that could unlock Foxconn’s access to a potential $1 trillion…
Author: usaeverydaylife
Microsoft is slated to release fiscal fourth-quarter results after the stock market’s closing bell Wednesday, and most analysts are expecting another stellar quarter from the tech old guard. An LSEG survey shows that analysts, on average, anticipate that the “Magnificent Seven” member will earn $3.37 per share on $73.807 billion revenue. Those results would correspond to earnings growth of 14.2% year over year, as well as a 14% jump in revenue when compared with the prior-year period. The anticipated gains come after Microsoft posted a major earnings and revenue beat for its fiscal third quarter, helped by outperformance at its…
U.S. President Donald Trump listens as Indian Prime Minister Narendra Modi speaks during a joint press conference in the East Room at the White House on February 13, 2025 in Washington, DC.Alex Wong | Getty Images News | Getty ImagesPresident Donald Trump said Wednesday that India will pay a tariff of 25% beginning Aug. 1, in addition to a “penalty” for what he views as unfair trade policies and for India’s purchase of military equipment and energy from Russia.The 25% tariff rate is modestly lower than what he imposed on India on “Liberation Day,” when he announced a 26% rate…
Omar Marques | Lightrocket | Getty ImagesIt’s been a decade since Ethereum’s inception, and although its native ether token has largely struggled for the last half of it, its future looks brighter than ever.Ether has become more attractive to institutions in recent weeks largely due to legislation around stablecoins – most of which are issued on Ethereum – being signed into the first-ever U.S. crypto law. There’s also the successful June IPO of Circle, the issuer of the second-largest stablecoin, new leadership at the Ethereum foundation, and, most recently, a boom in ether treasury firms and corporate entrants.Until very recently,…
In an interview with Jack Nicas of The New York Times, President Luiz Inácio Lula da Silva rejected President Trump’s demands for Brazil. Here’s how the United States and Brazil reached this point. Source link
Check out the companies making headlines before the bell. Starbucks — The coffee chain jumped more than 4% after CEO Brian Niccol said the company’s turnaround plan was ahead of schedule. On top of that, Starbucks reported fiscal third-quarter revenue of $9.5 billion, beating an LSEG consensus estimate of $9.31 billion. HSBC — Shares dipped nearly 2.6% after HSBC missed second-quarter profit expectations, mostly due to impairment charges tied to its stake in a Chinese bank and loss of income from businesses it disposed in the first half of 2024 . Novo Nordisk — Shares of the Danish pharmaceutical giant…
Concerns over Novo Nordisk’s growth path is leading Bank of America to step to the sidelines. The bank downgraded the Danish pharmaceutical giant to neutral from buy and decreased its price target to $60. That updated target still implies more than 11% upside from Tuesday’s close. “We have a Neutral rating on Novo Nordisk given c7% 2026- 31E sales CAGR with Wegovy and Ozempic trends looking tougher in 2H25 with further pressures into FY26-27 including Canada semaglutide [loss of exclusivity] and [Inflation Reduction Act] impacts,” analyst Sachin Jain wrote in a Wednesday note. NVO mountain 2025-07-28 NVO, week-to-date The downgrade…
Hiring at private companies rebounded at a stronger than expected pace in July, indicating the labor market is holding its ground, ADP reported Wednesday.Payrolls rose by a seasonally adjusted 104,000 for the month, reversing a loss of 23,000 in June and topping the Dow Jones forecast from economists for an increase of 64,000. The June number was revised up from an initially reported loss of 33,000.Though the pace of hiring is well off where it stood last year, the June total was the best since March and consistent with a slowing but still fairly vibrant jobs picture.”Our hiring and pay…
Jeffrey Epstein associate Ghislaine Maxwell listens to her sentencing from Judge Alison Nathan in a courtroom sketch in New York City, U.S. June 28, 2022. Jane Rosenberg | ReutersThe Department of Justice in late-night court filings on Tuesday gave federal judges additional information as part of its efforts to get grand jury proceedings related to notorious sex offenders Jeffrey Epstein and Ghislaine Maxwell unsealed.The DOJ told the judges that it has now notified all but one of the victims mentioned in those grand jury transcripts.Manhattan District Judge Paul Engelmayer last week had pointedly noted that the DOJ may not have…
Catastrophe bond sales are skyrocketing, underscoring the growing appeal of what was once considered a relatively niche corner of the insurance industry. The issuance of so-called catastrophe bonds, or CAT bonds, has soared to $18.2 billion so far this year, according to specialist data provider Artemis.bm. With five months to spare, that’s already more than the record of $17.7 billion set across the whole of 2024. “It is quite something. It’s really been an impressive year,” Steve Evans, owner and editor-in-chief at Artemis.bm, told CNBC by video call. “We’re definitely going to see the first ever $20 billion year. It…
