MidOcean Leads Bidding for Stake in Petronas Canada Unit
Petronas, as the Malaysian state energy firm is known, has picked MidOcean as the preferred bidder, according to the people. The companies are in advanced talks to hammer out details of a transaction for the stake, which could be valued at several billion dollars, the people said.
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Yahoo
20 minutes ago
- Yahoo
Big Tech's huge AI spending spree: A closer look post-earnings
Big Tech is ramping up artificial intelligence (AI) spending, with Amazon (AMZN), Alphabet (GOOG, GOOGL), Microsoft (MSFT), and Meta (META) now expected to pour $364 billion into AI this fiscal year. Yahoo Finance Senior Reporter Allie Canal joins Market Domination to break down what that surge in investment means for the broader market and upcoming Nvidia (NVDA) results. To watch more expert insights and analysis on the latest market action, check out more Market Domination. Hi, Josh. That's right. Big Tech AI spending spree is on a roll here and only getting bigger. We heard from Amazon, Alphabet, Microsoft, Meta, all now expecting to spend a combined $364 billion in their 2025 fiscal year. That's a sharp increase from earlier estimates of around $325 billion. Wall Street certainly cheering this news. We saw Meta and Microsoft shares soar after earnings. Microsoft actually briefly topped that $4 trillion market cap. Alphabet also rallied. Amazon was the lone exception here. Its stock slumped after a weak AWS guidance, spooking some investors there when it comes to where Amazon actually stands in this AI race. Now these companies have said that spending is essential in order to meet a lot of that surging AI demand, and that includes building data centers, expanding cloud infrastructure. Microsoft alone plans to spend nearly $30 billion in the first quarter of its new fiscal year. Analysts are certainly buying in as well. RBC Capital Markets calling Microsoft's AI footprint underappreciated, Needham saying that Google is leading GenAI innovation. Wedbush hiking its price target on Meta to a whopping $920 a share. So, there's just a lot of optimism on the street. There is some speculation on whether or not these are bubble-like numbers, whether or not the valuation can really be justified, especially as AI returns are still a bit murky and monetization remains unclear. But for now, investors are paying, are betting, I should say, that the payoff is just a matter of time here. So, just across the board, very solid results, and this all sets us up for Nvidia earnings at the end of the month. But, Josh, judging from what we saw from a lot of these hyperscalers, I think we're poised for a really strong Nvidia report. So, a lot of important crosscurrents there, Allie. Generally, how do strategists, market strategists, feel about Big Tech? Very positive and very bullish. You can just look at the sector action that we've seen throughout the course of the year to really tell that story. Tech is one of the top leading sectors, and conversely, if you look at the biggest laggards this year, that's Consumer Discretionary, Consumer Staples. So, a lot of these companies that are exposed to the consumer, particularly lower income consumers, they've seen a lot of pain on the tariff front. We know that inflation is edging up a little bit. We got that jobs data earlier this morning that points to a potential weaker labor market than we saw heading into this month. So, all of that is really insulated from Big Tech, or I should say Big Tech is insulated from a lot of those concerns. Of course, Apple did say they expect to take a $1.1 billion hit when it comes to tariffs in the current quarter, but investors weren't really concerned about that. They shrugged a lot of that off. They're looking at iPhone demand, they're looking at China, there's just different guidelines and different set of rules for a lot of these Big Tech companies. So, that's why it's really been leading a lot of the gains and leading the rally that we've seen this year. All right. Thank you, Allie. Appreciate it. Related Videos Berkshire Hathaway earnings: 'Perfect' stock to own when 'worried' Fed Governor Adriana Kugler to resign Dow falls more than 500 points on jobs report, tariffs Colgate-Palmolive, Rocket, Regeneron: Trending Tickers Sign in to access your portfolio
Associated Press
22 minutes ago
- Associated Press
Goldgroup Retains VLP for Market-Making Services
VANCOUVER, BC / ACCESS Newswire / August 1, 2025 / Goldgroup Mining Inc. ('Goldgroup' or the 'Company') (TSX-V:GGA)(OTCQX:GGAZF) is pleased to announce that Goldgroup has, subject to regulatory approval, retained Venture Liquidity Providers Inc. ('VLP') to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company. The market-making services will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange (the 'TSX-V') and other applicable laws. For its services, the Company has agreed to pay VLP $5,000 per month for a period of 3 months. Following the initial term of 3 months, the agreement will automatically renew for successive additional 1-month terms and the agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only. VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers. About Goldgroup Goldgroup is a Canadian-based mining Company with two high-growth gold assets in Mexico. The Company has a 100% interest in the producing Cerro Prieto heap-leach gold mine located in the State of Sonora. An optimization and exploration program is underway at Cerro Prieto to significantly increase existing production and resources. In addition, the Company holds a 100% interest in the Pinos underground gold development project in Zacatecas State. Pinos is an advanced PEA level development project. Formerly a producing mine, the Company is commissioning an updated PEA with a view to re-starting mining operations. Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico. For further information, please contact Sophia Shane at [email protected] or +1 604 306 6867 or visit the Company's website at On behalf of the Board of Directors Ralph Shearing CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Certain information contained in this news release, including any information relating to future financial or operating performance, may be considered 'forward-looking information' (within the meaning of applicable Canadian securities law) and 'forward-looking statements' (within the meaning of the United States Private Securities Litigation Reform Act of 1995). These statements relate to the Company's plans in respect of its Cerro Prieto and Pinos projects and the retaining of VLP to provide market-making services subject to regulatory approval. These forward-looking statements reflect Goldgroup's current internal projections, expectations or beliefs and are based on information currently available to Goldgroup. In some cases forward-looking information can be identified by terminology such as 'may', 'will', 'should', 'subject to', 'intend', 'plan', 'anticipate', 'believe', or the negative of those terms or other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors including, without limitation: receipt of all required stock exchange and regulatory approvals in connection with the engagement of VLP, as well as the risk factors disclosed in Goldgroup's Annual Information Form and MD&A. Any and all of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Goldgroup believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Goldgroup expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except as may be required by, and in accordance with, applicable securities laws. SOURCE: Goldgroup Mining, Inc. press release
Wall Street Journal
22 minutes ago
- Wall Street Journal
Weak Jobs Report and Tariff Blitz Push U.S. Stocks Lower - Minute Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Charlotte Gartenberg: Here's your closing bell brief for Friday, August 1st, I'm Charlotte Gartenberg for the Wall Street Journal. US markets were lower across the board today. The Dow Industrials fell 1.2% while the Nasdaq composite led losses with a drop of 2.2%. The declines were fueled by a weaker than expected July jobs report and President Trump's new tariff plan. The new tariffs affect a number of countries, including Canada, Switzerland, and Taiwan. The weak jobs report increased investor bets that the Federal Reserve will cut rates. After the report, President Trump said he directed his team to fire the top Bureau of Labor Statistics official. Among individual companies, shares of Amazon ended down 8.3% after the company's cloud computing arm reported disappointing growth. The industrial supplies company WW Grainger slid over 10% after cutting its profit outlook due to tariff related factors. The Solar Energy Company, First Solar rallied 5.3% on earnings and revenue guidance that beat expectations. Shares of Reddit jumped more than 17% after the social media platform swung to a quarterly profit driven by AI improvements. And the software company, Figma moved 5.6% higher after soaring 250% in its stock market debut yesterday. Heads Up, an artificial intelligence tool. Helped us make this episode by creating summaries that were based on WSJ Reporting and then reviewed and adapted by an editor. We'll have a lot more coverage of the day's news on the Wall Street Journal's. What's News Podcast? You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.
