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Mike Gallagher, a former Republican Congressman from Wisconsin, is taking on a significant role at Palantir Technologies Inc. as the head of defense, marking a strategic addition to the company’s leadership as it aggressively pursues government contracts. Gallagher, known for his strong stance on China and his leadership in legislative efforts to push TikTok’s Chinese
A stringent immigration policy introduced by former UK Prime Minister Rishi Sunak’s Conservative government has led to a significant drop in the number of visas issued to overseas health workers, according to recent data from the Home Office. This development represents a complex legacy on immigration that the new Labour government must now navigate. Between
As the excitement of the Paris Olympics begins to fade and the city prepares for the upcoming Paralympics, early indicators suggest that the Games have provided a significant short-term boost to the French economy. In August, services in France experienced their fastest expansion in over two years, according to S&P Global’s Purchasing Managers’ Index (PMI).
Bond yields climbed and stocks pulled back as investors prepared for Federal Reserve Chair Jerome Powell’s upcoming speech, anticipating that he may signal rate cuts, albeit at a measured pace. This outlook suggests that market expectations for a full percentage point of rate cuts by the end of the year might be overly optimistic. Treasury
A small but innovative startup, Black Forest Labs, is making waves by helping power Grok, Elon Musk’s artificial intelligence chatbot developed by xAI. Recently, images of popular characters like Elmo, Mickey Mouse, and Pikachu in unusual scenarios, such as wielding weapons, have flooded social media platform X, formerly known as Twitter. These images were likely
Zomato Ltd. has announced its agreement to acquire Paytm’s movie and events ticketing business for 20.5 billion rupees ($244 million) in cash, marking a significant expansion beyond its core food and grocery delivery services. Under the terms of the deal, Paytm’s parent company, One97 Communications Ltd., will transfer its entire stake in the ticketing business
Pakistan is set to roll out new designs for currency notes across all denominations next year, aiming to enhance security features, according to Jameel Ahmad, Governor of the State Bank of Pakistan. The central bank is expected to finalize the designs by December, with the new notes being issued in stages, Ahmad informed a parliamentary
China’s technology stocks took a significant hit as concerns over the country’s consumption outlook deepened, following Walmart Inc.’s decision to sell its stake in JD.com Inc. and disappointing earnings reports from key industry players. The Hang Seng Tech Index fell by 1.8% in Hong Kong, driven by an 8.7% drop in JD.com and a 9.9%
Amazon.com Inc. is facing investor concerns over its renewed focus on heavy spending, particularly in artificial intelligence (AI), which is seen as impacting profitability. This shift has caused Amazon’s stock to underperform compared to its megacap technology peers, following its earnings report in early August where the company indicated a pivot back to investment after
Alimentation Couche-Tard Inc., the Quebec-based convenience store giant, faces a complex financial challenge in its bid to acquire global competitor Seven & i Holdings. Analysts suggest that completing this ambitious transaction will require a combination of substantial cost reductions, a significant equity raise, and potentially a U.S. listing to secure the necessary financing. To manage
