Pakistan Aims to be Crypto Capital of South Asia
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
37 minutes ago
- Business Insider
Target names CEO successor, Guess to go private: Morning Buzz
The major averages were trending lower near noon as investors absorb a tech-led pullback and await pivotal catalysts, including Federal Reserve minutes and the highly anticipated Jackson Hole symposium. Meanwhile, President Trump is calling on Fed Governor Lisa Cook to resign, a move that follows a criminal referral letter from Federal Housing Agency Bill Pulte, sent last week, to Attorney General Pam Bondi alleging mortgage fraud. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Looking to commodities, gold prices are rebounding following the week's earlier declines. Oil prices are also trading higher near noon following yesterday's crude numbers. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists, and subscribe to the Fly By on YouTube. 1. STOCK NEWS: Target (TGT) reported upbeat Q2 results, reiterated its FY25 outlook, and announced CEO Brian Cornell will switch to a chair role, with COO Michael Fiddelke set to succeed him Lowe's (LOW) provided a 'beat and raise' report for Q2 and agreed to acquire Foundation Building Materials for $8.8B TJX (TJX) also provided a 'beat and raise' report for Q2 Authentic Brands will be involved in taking Guess (GES) private in a $16.75 per share acquisition Dayforce (DAY) said it is engaged in 'advanced discussions' with Thoma Bravo on an acquisition 2. WALL STREET CALLS: 3. AROUND THE WEB: Google (GOOGL) will pay $30M to settle a class action lawsuit alleging it violated kids' privacy on YouTube by collecting data without parental consent for targeted ads, Reuters reports U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel (INTC) as well as other chipmakers in exchange for CHIPS Act grants, Reuters reports McDonald's (MCD) will be lowering the cost of its combo meals after weeks of discussions with its restaurant operations, WSJ says Oracle (ORCL) is on the hook for tens of billions to build 'unprecedentedly' large data centers, including $1B per year on a gas-powered megasite in West Texas, Bloomberg reports Microsoft (MSFT) has limited Chinese companies' access to advance notifications about cybersecurity vulnerabilities after investigating a potential leak, reported Bloomberg 4. MOVERS: Shineco (SISI) gains in New York after executing a cooperation agreement with Plus Me Rocket Pharmaceuticals (RCKT) higher after announcing the clinical hold placed on RP-A501 trial was lifted Hertz (HTZ) increases after announcing shoppers will be able to browse, finance, and purchase pre-owned vehicles on Amazon (AMZN) Autos EnCore (EU) lower after announcing a $75M share offering James Hardie (JHX) falls in New York after reporting Q1 results and providing guidance for FY26 5. EARNINGS/GUIDANCE: Toll Brothers (TOL) reported Q3 results, with EPS and revenue beating consensus Baidu (BIDU) reported Q2 results, with EPS and revenue lower year-over-year La-Z-Boy (LZB) reported Q1 results, with CEO Melinda Whittington commenting, 'We were pleased to deliver sales and margin growth in our Wholesale segment for the quarter' Kanzhun (BZ) reported Q2 results and provided guidance for Q3 ZIM Integrated (ZIM) reported Q2 results and narrowed its guidance for FY25 INDEXES: Near midday, the Dow was down 0.18%, 80.64, to 44,841.63, the Nasdaq was down 1.37%, or 292.68, to 21,022.27, and the S&P 500 was down 0.74%, or 47.33, to 6,364.04.
Engadget
an hour ago
- Engadget
Oracle will reportedly power a giant data center with gas generators
Bloomberg has published a deep dive into operations at Oracle, chronicling the software giant's rise in cloud computing and current push into powering artificial intelligence projects. The publication reported that Oracle has promised to develop tens of billions of dollars in data centers, which have become a hot business. Notably, Oracle landed a deal to back operations at OpenAI, in a partnership that will give the AI company 4.5 gigawatts of computing power . According to Bloomberg , that's enough energy to power "millions of American homes." So far, Oracle has seemed willing to throw money at its AI data center projects, no matter how expensive or irresponsible the needs might be. For instance, a source said the company plans to spend more than $1 billion a year powering a single data center in Texas with gas generators rather than waiting for a utility connection to be built. When completed, this data center is expected to be one of the largest known sites, with computing power of 1.4 gigawatts. In addition to the huge monetary cost, such a project can also have negative human and environmental impact. The Elon Musk-owned xAI is under fire after a supercomputer for its artificial intelligence operations became a primary source of air pollution in Memphis thanks to methane-powered turbines. Other majors, including Google , Microsoft and Meta , have chosen to try nuclear power for their data center projects, which comes with its own potential complications and risks. Purely on the financial side, Oracle's decision to invest so much so quickly meant the company reported its first negative annual cash flow since 1990. Should the current rates of AI investment turn out to be a bubble, it could be very bad news to have many billions of dollars on the line.
Bloomberg
an hour ago
- Bloomberg
From Intern to CEO? That's the Dream — or a Nightmare
Save This is Bloomberg Opinion Today, the clever financial origami of Bloomberg Opinion's opinions. Sign up here. Normally, after an internship, you expect to walk away with a few things: a new list of bullet points to add to your resume, some cool swag with the company logo on it and — if you're lucky — a few friends that you met in the trenches. But the title of CEO? That's not in the cards, no matter how much Kool-Aid you drink.
