U.S. President Joe Biden delivers a speech at the State Department in Washington, U.S. Jan. 13, 2025. Evelyn Hockstein | ReutersPresident Joe Biden issued an executive order Thursday aimed at speeding domestic construction of artificial intelligence infrastructure and shoring up the national security risk involved in the technology.The move empowers the U.S. Department of Defense and Department of Energy to lease federal sites for gigawatt-scale AI data centers.”AI is poised to have large effects across our economy, including in health care, transportation, education, and beyond, and it is too important to be offshored,” the White House said in a release.The order…
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Israel and Hamas appeared close to an agreement to declare a cease-fire in Gaza and release hostages held there, the Qatari government, a key broker in the talks, said on Tuesday, raising hopes after more than 15 months of war for some respite in the fighting.The latest round of negotiations comes after repeated failed attempts to achieve a breakthrough. In recent weeks, though, officials familiar with the talks have voiced mounting hopes that one was possible, spurred by a looming deadline: the end of President Joe Biden’s term and President-elect Donald J. Trump’s inauguration on Jan. 20.Mediators had “managed to…
Check out the companies making headlines in premarket trading. Technology stocks — The group that was under pressure in Monday’s session bounced before the bell, trying to regain some of the lost ground. Nvidia and Palantir climbed more than 1% in Tuesday premarket trading, while AppLovin gained 0.7%. The three names were among the best performers of 2024. KB Home — Shares of the homebuilder jumped by more than 9% after fourth-quarter results topped estimates. KB Home reported $2.52 in earnings per share on $2 billion of revenue. Analysts surveyed by LSEG were expecting $2.45 per share on $1.99 billion…
BTIG is betting on Maplebear , which does business as Instacart, as a strong play in one of the few growth areas of the consumer space: grocery delivery. Analyst Jake Fuller upgraded the stock to buy from neutral and initiated a 12-month price target of $58, which suggests shares can gain 30% from Monday’s close. “Our tracking points to accelerating order growth, and we are taking 4Q and 2025 estimates above-Street. Finally, with estimates up and the stock down since the 3Q print, we see valuation as attractive and are finally pulling the trigger,” Fuller said in a Tuesday note…
A measure of wholesale prices increased less than expected in December, providing indication that pipeline inflation pressures eased to close the year.The producer price index rose just 0.2% on the month, less than the 0.4% increase in November and below the Dow Jones consensus estimate for 0.4%, according to a Bureau of Labor Statistics report Tuesday.Excluding food and energy, so-called core PPI was flat compared to the forecast for a 0.3% rise. Excluding food, energy and trade services, the measure rose just 0.1%.This is breaking news. Please check back for updates. Source link
Defense secretary nominee Pete Hegseth meets with Senator-elect Jim Banks (R-IN) on Capitol Hill in Washington, U.S., December 5, 2024.Evelyn Hockstein | ReutersSecretary of Defense hopeful Pete Hegseth is set to appear for a high-stakes Senate confirmation hearing Tuesday, as he seeks to overcome an expected grilling from Democrats about his qualifications to lead the Pentagon, the nation’s largest government agency.The hearing before the Senate Armed Services Committee is also likely to put a spotlight on recently surfaced allegations of past sexual impropriety and alcohol abuse by Hegseth.The 44-year-old Army veteran and former Fox News host may also have to…
A Southwest Airlines Boeing 737 passenger plane taxis along the tarmac at the Ronald Reagan Washington National Airport (DCA) in Arlington, Virginia on December 13, 2024. Daniel Slim | Afp | Getty ImagesSouthwest Airlines is pausing corporate hiring and promotions, suspending most of its summer internships and going without some employee team-building events that date back to the 1980s in order to cut costs and improve margins, CEO Bob Jordan told staff Monday.”Every single dollar matters as we continue to fight to return to excellent financial performance,” Jordan said in the note, which was seen by CNBC.He said the company will delay…
The wind whips embers while firefighters battle the fire in the Angeles National Forest near Mt. Wilson as the wildfires burn in the Los Angeles area, during the Eaton Fire in Altadena, California, U.S. January 9, 2025. Ringo Chiu | ReutersFor almost two years, Viktor Makarskyy has been working on an app that serves as a digital survival kit to help people in disaster zones, which are getting more numerous seemingly by the day given the pace of climate change.He never imagined his work and personal life would collide in such a profound way.On Wednesday night, Makarskyy was flying home to…
“Buy-now, pay-later” firm Klarna aims to return to profit by summer 2023.Jakub Porzycki | NurPhoto | Getty ImagesKlarna has agreed a major new distribution partnership with fellow fintech unicorn Stripe, in a bid to expand reach and add more merchants in the lead-up to its upcoming listing in the U.S.Klarna’s buy now, pay later (BNPL) service will become available as a payment option for merchants using Stripe’s payment tools in 26 countries, the two companies told CNBC Tuesday.This isn’t the first time Klarna and Stripe have partnered. In 2021, at the height of the Covid-19 pandemic-fueled fintech craze, Stripe announced…
Loop Capital thinks Advanced Micro Devices can rally from current levels and take advantage of Intel’s troubles and gain ground in the desktop and sever markets. Analyst Gary Mobley initiated coverage of the semiconductor company with a buy rating and $175 price target, which implies shares can jump 49.2%. Mobley pointed out that AMD shares vastly underperformed the PHLX Semiconductor Sector index last year and are trading more closely with companies more exposed to markets such as PCs and smartphones. The SOX index rose nearly 20% in 2024, while AMD fell 18%. This only increased the analyst’s conviction on the…
