Advanced Micro Devices (AMD) has unveiled new processors aimed at powering artificial intelligence (AI)-enabled PCs, positioning itself in the competitive AI PC market against rivals like Nvidia and Intel. These AI PCs are equipped with processors designed for AI tasks such as real-time language translation and summarization. AMD introduced the Ryzen Pro 8040 series processors… Continue reading AMD rolls out its latest chips for AI PCs as competition with Nvidia and Intel heats up

In March, despite rising inflation, consumer spending surged at a faster pace than expected, as reported by the Commerce Department. Retail sales climbed by 0.7%, surpassing the Dow Jones consensus forecast of a 0.3% increase. While the consumer price index rose by 0.4%, indicating a 3.5% annual inflation rate, consumers outpaced inflation with their spending,… Continue reading Retail sales jumped 0.7% in March, much higher than expected

Tesla, led by CEO Elon Musk, announced in a memo to its employees a significant reduction in its global workforce by more than 10% as the company prepares for its next phase of growth. Musk emphasized the necessity of cost reductions and increased productivity in every aspect of the company’s operations. The decision comes amidst… Continue reading Tesla will lay off more than 10% of global workforce: Read the Elon Musk memo

Carey Halio, currently head of strategy and investor relations at Goldman Sachs, is set to be promoted to the position of global treasurer within the bank, effective June 1, as reported by sources familiar with the matter. In her new role, Halio will wield authority over the bank’s vast $1.6 trillion balance sheet, tasked with… Continue reading Goldman Sachs promotes head of strategy and investor relations, Carey Halio, to global treasurer

In March, the producer price index (PPI) saw a modest increase of 0.2%, falling below the 0.3% estimate predicted by the Dow Jones consensus and a decrease from February’s 0.6% rise, as reported by the Labor Department’s Bureau of Labor Statistics. Nonetheless, the PPI climbed 2.1% on a 12-month basis, marking its most significant surge… Continue reading Amazon CEO Andy Jassy in shareholder letter says he’s committed to cost cutting while investing in AIWholesale prices rose 0.2% in March, less than expected

New York Community Bank (NYCB), which recently required a significant financial rescue, has unveiled the highest interest rate for a savings account in the country, offering 5.55% through its online arm, My Banking Direct. This move, according to analyst Ken Tumin, suggests the bank may be under funding pressure, as it aggressively seeks deposits. NYCB’s… Continue reading New York Community Bank’s online arm is paying the nation’s highest interest rate

In March, the consumer price index (CPI) surged unexpectedly, indicating a faster inflation rate than anticipated, which could thwart hopes for immediate interest rate cuts by the Federal Reserve. The Labor Department’s Bureau of Labor Statistics reported a 0.4% increase in the CPI for the month, pushing the 12-month inflation rate to 3.5%, exceeding economists’… Continue reading Consumer prices rose 3.5% from a year ago in March, more than expected

In the United States, there has been a surge in the number of cities where the typical home is valued at $1 million or more, reaching a record high of 550 such cities in February, according to a recent analysis by Zillow. This marks an increase of 59 cities from the previous year and surpasses… Continue reading $1 million homes are now ‘typical’ in a record number of U.S. cities, analysis finds. Here’s where they are

In March, small business confidence plummeted to its lowest level in over 11 years, signaling deep concerns among proprietors regarding persistent inflationary pressures. The National Federation of Independent Business (NFIB) reported a reading of 88.5, down nearly a point from February and marking the lowest level since December 2012. Rising costs emerged as a primary… Continue reading Small business optimism hits 11-year low as inflation fears won’t go away

The U.S. Federal Reserve’s stance on interest rates remains firm, with recent economic data suggesting that a summer rate cut is increasingly unlikely. The latest jobs report emphasized the continued strength of the U.S. labor market, further reinforcing the Fed’s cautious approach. Market observers are now closely monitoring Wednesday’s consumer price index release, following February’s… Continue reading ‘They can’t get it wrong again’: Economists are increasingly uncertain about Fed rate cuts this year

U.S. Treasury Secretary Janet Yellen, during an interview with CNBC’s Sara Eisen, expressed openness to employing various measures, including potential tariffs, on China’s green energy exports if necessary. Yellen emphasized the importance of maintaining a level playing field in the green technology sector, highlighting concerns over China’s heavy subsidies to its firms, which could undercut… Continue reading Yellen says she won’t rule out possible tariffs on China’s green exports

Disney shareholders have reelected the entire board, securing a significant win against activist investors Nelson Peltz and former Marvel CEO Ike Perlmutter, who sought change within the company. The victory reaffirms the board’s decisions, including the reinstatement of CEO Bob Iger and his efforts to revitalize the media giant. Peltz’s Trian Partners aimed to remove… Continue reading Disney wins proxy fight against activist investor Nelson Peltz, as shareholders reelect full board