Author: Jeffery Carter
Alibaba’s stock price had been in a prolonged slump following Beijing’s regulatory crackdown on Big Tech. Jack Ma, Alibaba’s high-profile cofounder, also disappeared from public view.AP Images Alibaba shares surged in Hong Kong after news of an AI partnership with Apple. Alibaba’s stock had been in a prolonged slump following Beijing’s regulatory crackdown on Big Tech. Analysts see potential in Chinese tech stocks amid US tariffs and economic pressures. Once the most high-profile name in Chinese tech, Alibaba had several difficult years in the stock market — but the e-commerce giant could be headed for a turnaround. On Wednesday, Alibaba…
Booming AI budgets seemed at risk last week when DeepSeek crashed Nvidia’s stock based on speculation that its cheaper AI models would lower demand for AI chips and data centers. Alphabet CEO Sundar Pichai has certainly noticed the Chinese AI company, praising its work as “tremendous” in Alphabet’s latest earnings call (while adding that some of Gemini’s models are just as efficient). But just like Meta, Alphabet isn’t throwing down the towel in Big Tech’s AI spending wars. In its latest earnings report, Alphabet announced it would boost capital expenditures to $75 billion this year — a whopping 42% increase — to accelerate its…
Former Office of Management and Budget (OMB) Director Russell Vought takes his seat as he arrives to testify before a US Senate Homeland Security and Governmental Affairs Committee hearing on his second nomination to be OMB director, on Capitol Hill in Washington, DC, on Jan. 15, 2025.Jemal Countess | AFP | Getty ImagesTwo senior leaders at the Consumer Financial Protection Bureau announced their resignations the day after acting Director Russell Vought instructed all staff to cease working.In separate memos sent early Tuesday, Lorelei Salas, supervision director for the agency, and Eric Halperin, enforcement director, said they could no longer serve…
New York City Mayor Eric Adams leaves the federal court after being charged with bribery and illegally soliciting a campaign contribution from foreign nationals, in New York City, U.S., October 2, 2024. Shannon Stapleton | ReutersNew York City Mayor Eric Adams on Friday denied offering the Trump administration a quid pro quo deal in an effort to have his criminal corruption case dismissed, as a top federal prosecutor alleged before they resigned in protest.”I want to be crystal clear with New Yorkers: I never offered — nor did anyone offer on my behalf — any trade of my authority as your…
The International Cricket Council’s (ICC) Champions Trophy is back after an eight-year hiatus. The elite one-day international (ODI) tournament’s last winners, Pakistan, are playing host to their first ICC event since the 50-over World Cup in 1996. The world’s top eight men’s teams will compete in the 19-day tournament (February 19 until March 9), which will also see archrivals Pakistan and India face-off in the group stage. Here’s a lowdown on how the tournament will be played and the full match schedule: Which teams are playing in the ICC Champions Trophy? Group A: Pakistan, India, Bangladesh, New Zealand Group B:…
Check out the companies making headlines after the bell : GameStop — The video game retailer and meme-stock favorite jumped 7% in extended trading. GameStop is considering investing in bitcoin and other cryptocurrencies, sources familiar with the matter told CNBC. The company is still figuring out whether the move would make sense for GameStop’s business, a source said. Roku — The streaming service provider surged 10% after posting a fourth-quarter loss of 24 cents per share, which was narrower than the 40-cent loss analysts polled by LSEG had expected. Roku’s $1.20 billion in revenue exceeded the anticipated $1.15 billion. The…
Nurphoto | Nurphoto | Getty ImagesSorry, lovebirds, but that chocolate you’re buying for your sweetie this Valentine’s Day probably comes with a bigger price tag.Candy is the most popular Valentine’s Day gift, beating out other tokens of affection like flowers, cards and jewelry, according to the National Retail Federation. Additionally, chocolate accounts for more than half of all confectionery sales, according to the National Confectioners Association, a trade group.But chocolate makers have been raising prices to offset record costs for cocoa, company officials and agricultural economists said.Consumers will likely pay about 10% to 20% more for chocolate this Valentine’s Day…
A Montana man linked to the case of Alicia Navarro, a teenager who was missing for four years after she vanished from her home in Arizona, was sentenced to 100 years in prison in an unrelated child sex abuse case, authorities said Tuesday.Edmund Davis, 38, was sentenced to 100 years at the Montana State Prison with 50 years suspended, Attorney General Austin Knudsen said in a news release Tuesday. Davis will not be eligible for parole for 25 years.Davis pleaded guilty to one count of sexual abuse of children in September after authorities discovered illicit material on his electronic devices while searching…
The Zelle icon is displayed on a phone screen.Jakub Porzycki | Nurphoto | Getty ImagesZelle, the payments network run by banks-owned Early Warning Services, crossed $1 trillion in total volumes last year, which it said was the most ever for a peer-to-peer platform.The firm said Wednesday that its user base jumped 12% to 151 million accounts in 2024, and that the total dollars sent on the platform jumped 27% from the year earlier.Last year’s payment volumes were “by far the most money ever moved by a P2P payments service in a single year,” Denise Leonhard, general manager of Zelle, told…
Rachel Reeves could change rules which allow savers to protect up to £20,000 from tax – Kirsty O’Connor/Treasury Are you moving money into a cash Isa? Let us know in the comments or email money@telegraph.co.uk Panicked savers are rushing to open cash Isas amid speculation that Rachel Reeves could scrap their tax-free benefits, advisers have said. Since the news broke at the end of January that the Chancellor had been urged to reconsider the lucrative tax breaks, 56pc of accounts opened with Hargreaves Lansdown have been cash Isas. Payments into cash Isas, which allow savers to hold up to £20,000…