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Wall Street set to resume record run after Fed rate cut
LONDON, Sept 18 (Reuters) - Wall Street futures and the dollar nudged higher on Thursday after the Federal Reserve's first interest rate cut of the year, while French politics kept its markets jittery and the pound held its ground after UK rates were left unchanged.
Thu, Sep 18
China's DeepSeek says its hit AI model cost just $294,000 to train
BEIJING, Sept 18 (Reuters) - Chinese AI developer DeepSeek said it spent $294,000 on training its R1 model, much lower than figures reported for U.S. rivals, in a paper that is likely to reignite debate over Beijing's place in the race to develop artificial intelligence.
Thu, Sep 18
Cracker Barrel shares slump as logo change blowback dents restaurant traffic
Sept 18 (Reuters) - Cracker Barrel CBRL.O shares fell nearly 10% before the bell on Thursday, after social media backlash around the restaurant chain's short-lived decision to change its decades-old logo hit customer traffic and prompted it to scrap store remodel plans.
Thu, Sep 18
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GE Healthcare exploring stake sale in China unit, Bloomberg News reports
Sept 18 (Reuters) - Medical device maker GE Healthcare GEHC.O is working with advisers to explore options including the sale of a stake in its China unit, Bloomberg News reported on Thursday, citing people familiar with the matter.A potential transaction may value the assets at several billion dolla...
Thu, Sep 18
Dollar choppy after Fed decision; pound steady after BoE keeps rates steady
TOKYO/LONDON, Sept 18 (Reuters) - The U.S. dollar was choppy on Thursday as traders parsed the Federal Reserve's measured stance on further interest rate cuts, while sterling held steady as the Bank of England kept rates steady and slowed the pace of its government bond sales.
Thu, Sep 18
China's Huawei hypes up chip and computing power plans in fresh challenge to Nvidia
SHANGHAI, Sept 18 (Reuters) - Huawei outlined its long-term chip plans for the first time on Thursday and said it would launch some of the world's most powerful computing systems - underscoring China's drive to wean itself off foreign semiconductor suppliers like Nvidia NVDA.O.
Thu, Sep 18
SoftBank, OpenAI Japan AI joint venture is delayed, source says
By Yusuke OgawaTOKYO, Sept 18 (Reuters) - SoftBank's 9984.T plans to set up a joint venture with OpenAI to bring artificial intelligence services to corporate customers in Japan are significantly behind schedule, according to a source familiar with the matter. The joint venture was supposed to ...
Thu, Sep 18
Candy maker Mars plans $1.2 billion investment to boost EU operations
Sept 18 (Reuters) - Mars, the maker of M&M's and Skittles, said on Thursday it will invest 1 billion euros ($1.18 billion) in its European Union operations by the end of 2026 to boost manufacturing, sustainability and innovation pipeline in the region.The new investment builds on more than 1...
Thu, Sep 18
Hong Kong central bank cuts interest rate, tracking Fed; banks follow
HONG KONG, Sept 18 (Reuters) - Hong Kong's central bank on Thursday lowered its base interest rate by 25 basis points to 4.50%, tracking a cut by the U.S. Federal Reserve.It was the first easing by the Hong Kong Monetary Authority since a 25 basis point cut last December. The rate is charged via...
Thu, Sep 18
Meta launches smart glasses with built-in display, reaching for 'superintelligence'
Meta's $800 price tag on new glasses may deter buyers - analystsMeta is ahead of rivals in easy-to-wear smart glasses New Display glasses have wristband controllerMeta faces scrutiny over child safety on social media platforms By Aditya Soni and Echo WangMENLO PARK, California, Sept 17 (Reuters)...
Thu, Sep 18
U.S. state visit yields record 150 billion pounds of investment, UK says
LONDON, Sept 17 (Reuters) - U.S. President Donald Trump's state visit to Britain has generated 150 billion pounds ($204.87 billion) of inward investment, the British government said on Wednesday citing its own data which compiled new and previously announced pledges.The figure, which Britain sai...
Thu, Sep 18
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Fed's Standing Repo Facility on track for big test at end of September
Fed's liquidity facilities face prospect of heavy usage into close of monthFed's Standing Repo Facility on track for first real-world test of noteQT process may stop if SRF usage extends beyond September, experts suggestBy Michael S. Derby WASHINGTON, Sept 17 (Reuters) - Federal Reserve i...
Thu, Sep 18
[Reuters Analysis] Fed lowers rates by a quarter of a point; Powell says was a risk management cut
NEW YORK, Sept 17 (Reuters) - The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year, as policymakers responded to concerns about weakness in the job market in a move that won support from
Thu, Sep 18
[Reuters Analysis] Fed easing a mixed blessing for rest of the world: McGeever
By Jamie McGeeverORLANDO, Florida, Sept 17 (Reuters) - We're about to see a rare phenomenon in global central banking: the U.S. Federal Reserve is set to embark on an interest rate-cutting cycle just as many of its peers are winding theirs down. Strictly speaking, the Fed is resuming its easing ...
Thu, Sep 18
Dollar steady after rebound from 3-1/2-year low in post-Fed rollercoaster ride
Fed's rate cut leads to dollar's initial plunge, then reboundFed Chair Powell describes rate cut as risk-management measureBoE expected to keep rates steady amid stable inflationBy Kevin Buckland TOKYO, Sept 18 (Reuters) - The U.S. dollar was steady early on Thursday following its plunge ...
Thu, Sep 18
Gold falls after scaling record peak as markets digest Fed Chair Powell's comments
Spot gold scaled record high of $3,707.40/oz Fed delivers normal-sized rate cutDeutsche Bank raises average gold price forecasts for next year to $4,000/ozSilver, platinum, palladium each down over 2% By Ashitha Shivaprasad and Anjana Anil Sept 17 (Reuters) - Gold prices fell nearly 1% on Wednesd
Thu, Sep 18
Fed's Powell explains how central bank moderate rates mandate works
Powell explains third mandate as derivative of dual mandateFed's QE aimed to lower long-term rates, impact debatedQE's effect on government borrowing costs raises political concernsBy Michael S. Derby Sept 17 (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday explained why the t...
Thu, Sep 18
US Treasury's Bessent made contradictory mortgage pledges, Bloomberg reports
Bloomberg reports Bessent arrangement resembles Cook'sTrump has tried to fire Cook for alleged mortgage fraudCook denies fraud claims and has contested firingBessent's lawyer says paperwork done properly WASHINGTON, Sept 17 (Reuters) - U.S. Treasury Secretary Scott Bessent previously agre...
Thu, Sep 18
Big US banks lower prime lending rates after Fed rate cut
By Ateev Bhandari Sept 17 (Reuters) - Major U.S. lenders lowered a key interest rate on Wednesday, providing U.S. consumers a reprieve on borrowing costs, after the Federal Reserve cut interest rates for the first time this year. JPMorgan Chase JPM.N, Citigroup C.N, Wells Fargo WFC.N and Bank of
Thu, Sep 18
US House advances stopgap bill to avert government shutdown
House approves debate on stopgap funding to prevent shutdownDemocrats propose alternative funding bill with healthcare focusSenate needs bipartisan support to pass stopgap measureBy David Morgan and Richard CowanWASHINGTON, Sept 17 (Reuters) - The Republican-controlled U.S. House of Representatives
Thu, Sep 18
