Category: United States

OpenAI has reached an “agreement in principle” for Sam Altman to return to his post as chief executive officer alongside a new board, just days after his ousting, the company said on Wednesday. In a posting on X, the tech group behind ChatGPT said former Salesforce CEO Bret Taylor will serve as chair, joined on […]

Nvidia Corp. easily topped revenue and earnings expectations for the latest quarter Tuesday, setting a new top-line record of $ 18 billion in the process. The company also forecast revenue of $ 20 billion at the midpoint for the ongoing quarter, above the $ 18 billion consensus view but in line with what some analysts […]

Hipster-leaning clothing retailer Urban Outfitters Inc. on Tuesday reported third-quarter results that beat expectations, helped by wealthier shoppers at its Anthropologie and Free People stores. Executives signaled optimism for the holidays and rebounding demand that has kept it from selling clothing at deeper discounts. But during the company’s earnings call, executives noted what they said […]

HP Inc.’s stock initially dipped more than 3% in extended trading Tuesday after the computing giant reported generally solid results and vowed to introduce its first AI-powered PCs in the second half of 2024. “It was a tough year… but we are on track to deliver AI PCs next year [in the second half of […]

It was a tip from an analyst at an investment firm roughly a decade ago that first pushed Kevin Kinser, an education professor at Penn State University, to start looking into companies that work with colleges to create online degree programs.  Back then, the typical model for these online program managers, or OPMs as they’re […]

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While falling bond-yield heroes helped drag the S&P 500 SPX out of a quick and dirty correction, we’re about to find out how much earnings still matter for markets, with mega performer Nvidia releasing results later. Many investors may have been wrong-footed by the market this year, girding for a recession that never came, and […]

U.S. stock futures on Tuesday showed the November rally stalling ahead of results from AI chipmaker Nvidia. How are stock-index futures trading On Monday, the Dow Jones Industrial Average DJIA rose 204 points, or 0.58%, to 35151, the S&P 500 SPX increased 33 points, or 0.74%, to 4547, and the Nasdaq Composite COMP gained 159 […]

The global supply of platinum is expected to significantly fall short of demand this year, with the World Platinum Investment Council forecasting a record deficit, along with a rise in industrial demand to an all-time high. The global platinum market is expected to post a deficit of 1.071 million ounces for 2023, with total year-on-year […]

It might be easy to conclude from the past four days of Silicon Valley’s ongoing soap opera at OpenAI that Microsoft Corp. is set to emerge as the victor in artificial intelligence, ready to quash all rivals, large and small. Microsoft MSFT has seemingly gained the most from the abrupt ouster of OpenAI Chief Executive […]

News that hundreds of OpenAI staff are threatening to leave in the wake of Sam Altman’s shock ouster from the ChatGPT maker marks the latest twist in a still-unfolding drama. The soap opera began Friday when OpenAI fired Altman following a power struggle with the board, sending shock waves through Silicon Valley. Hours later, the […]

Multiple high-profile companies have suspended advertising on X, the company formerly known as Twitter, following Elon Musk’s apparent endorsement of antisemitic conspiracy theories last week. Musk posted to X, “you have said the actual truth,” in response to a post that claimed Jewish communities support “dialectical hatred against whites.” Musk and X CEO Linda Yaccarino […]

The U.S. initial public offering calendar is empty this holiday-shortened week, but some recent additions to the pipeline suggest December could be livelier and welcome deals from some profitable, decent-sized companies. The IPO market has been limping of late, after a flurry of recent deals flopped either from day one or in the aftermarket. The […]

In recent years, a wide variety of businesses have turned “junk fees” into a common scourge for consumers. These charges, such as “resort fees,” “convenience fees” or “overdraft fees,” often are hidden from customers until the transaction is almost over — for example, when you’re checking out of a hotel or website. Sometimes, it’s difficult […]

Capping a tumultuous weekend, Microsoft said it’s hiring Sam Altman to lead a new advanced artificial-intelligence research team as OpenAI turned to Emmett Shear to run the organization. The news comes as ChatGPT maker OpenAI considered bringing Altman back into the fold, before deciding on Shear, the former chief executive of the video game service […]

After six years in its eighth generation, the trusty Toyota Camry has received a redesign that ushers in major changes for the nameplate — some expected, others more successful in eluding the soothsayers of the automotive press leading up to its release at the 2023 Los Angeles International Auto Show. The news? The 2025 Camry […]

It hasn’t been smooth sailing for retirement savers this year, as evidenced by Fidelity Investment’s latest retirement data.  Investors are reeling from a mix of higher inflation and market volatility, the company said, and that has resulted in retirement-account balances declining from last quarter and the number of loans and withdrawals increasing. Fidelity uses data […]

Kyle Vogt resigned as chief executive of autonomous-vehicle company Cruise late Sunday, following the recent suspension of Cruise’s operations on public roads. “Today I resigned from my position as CEO of Cruise,” Vogt, who co-founded Cruise and oversaw its 2016 acquisition by General Motors Co. GM, tweeted Sunday night. “The last 10 years have been […]

Over the summer months, as reporters and the markets were pondering how many more times the Federal Reserve would hike interest rates this year, New York Fed President John Williams mentioned one reason the central bank might actually start cutting rates in 2024. In an interview, Williams explained that, assuming inflation comes down, if the […]

The highlight for markets and economists this coming week will be the summary of the discussion at the Federal Reserve’s last policy meeting on Oct. 31 – Nov. 1. Markets will be alert for any comments that might give credence to new hopes that the Fed might cut interest rates as soon as the May […]