Dollar jumps, yen weakest since 1990 after strong U.S. retail sales

By Karen Brettell NEW YORK (Reuters) -The dollar reached its highest since early November against a basket of currencies on Monday and sent the yen to its lowest level since 1990, after U.S. retail sales increased more than expected in March. Retail sales rose 0.7% last month and data for February was revised higher to […]

Reuters | April 15, 2024

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Citi profit falls on severance costs from reorganization while stock slides

By Manya Saini and Tatiana Bautzer (Reuters) -Citigroup’s first-quarter profit fell 27% as the bank took charges related to its reorganization, although it beat expectations as revenues grew in key divisions. The bank’s shares were volatile, wiping out an earlier gain to slide 2% while other bank stocks also weakened. Citi’s net income fell to […]

Reuters | April 12, 2024

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Amazon adds AI expert Andrew Ng to board as GenAI race heats up

(Reuters) -Amazon.com on Thursday added Andrew Ng, the computer scientist who led artificial intelligence projects at Alphabet’s Google and China’s Baidu, to its board amid rising competition among Big Techs to add users for their GenAI products. Amazon’s cloud unit is facing pressure from Microsoft’s early pact with ChatGPT-maker OpenAI and integration of its technology […]

Reuters | April 11, 2024

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Goldman Sachs Lifts China 2024 Growth Forecast To 5.0%

BEIJING (Reuters) -Goldman Sachs has raised its forecasts for China’s year-on-year economic growth for the first quarter and the full year of 2024 due to the country’s manufacturing strength, the investment bank said in a note on Wednesday. It raised its forecast for China’s year-on-year gross domestic product (GDP) growth this year to 5.0% from […]

Reuters | April 10, 2024

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EV maker Lucid beats first-quarter delivery estimates as price cuts boost demand

By Zaheer Kachwala (Reuters) -Lucid reported first-quarter deliveries above market expectations on Tuesday as price cuts helped boost demand for its luxury electric sedans, sending its shares up about 3%. The electric-vehicle startup handed over 1,967 vehicles in the first quarter, compared with estimates of 1,745, according to eight analysts polled by Visible Alpha. Lucid […]

Reuters | April 9, 2024

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Mastercard Set to Increase Credit Card Fees, Adding Millions in Costs for Retailers After Visa Settlement

April 4, 2024

Mastercard Inc (NYSE:MA) looks to raise specific credit card fees starting April 15, a move that comes shortly after announcing a $30 billion settlement with Visa Inc (NYSE:V) over swipe fees aimed at providing financial relief to retailers. The network “assessment” fee will increase to 0.14% from 0.13%, which translates to an additional $259.1 million in fees based on last […]

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Dollar jumps, yen weakest since 1990 after strong U.S. retail sales

Citi profit falls on severance costs from reorganization while stock slides

Amazon adds AI expert Andrew Ng to board as GenAI race heats up

Goldman Sachs Lifts China 2024 Growth Forecast To 5.0%

EV maker Lucid beats first-quarter delivery estimates as price cuts boost demand

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Mastercard Set to Increase Credit Card Fees, Adding Millions in Costs for Retailers After Visa Settlement