Tesla Inc’s steep sell-off is proving to be an ongoing nightmare for fund managers that have bet heavily on the Elon Musk-led electric vehicle manufacturer. Overall, 50 actively-managed U.S. equity funds have more than 5 percent of their assets in the company, exceeding the barrier that many portfolio managers will not cross for one equity […]
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The S&P 500 finished higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve’s last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their interest rate hiking pace. Officials at the Fed’s Dec. 13-14 policy meeting agreed the U.S. […]
It’s now less than three years until the Public Switched Telephone Network (PSTN) is switched off in the UK, which means businesses must switch to digital now. With so much misinformation around how to navigate this switch off, Kristian Torode, Director and Co-Founder of business telecoms services provider, Crystaline, busts some of PSTN switch off […]
U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 […]
Microsoft Corp is in advanced talks to invest in Gatik, a California-based autonomous driving startup, as part of its cloud partnership with the company, two people familiar with the discussions told Reuters. Microsoft plans to invest over $10 million in a financing round that values Gatik at more than $700 million, the sources added. As […]
Microsoft Corp is in the works to launch a version of its search engine Bing using the artificial intelligence behind OpenAI-launched chatbot ChatGPT, The Information reported on Tuesday, citing two people with direct knowledge of the plans. Microsoft could launch the new feature before the end of March, and hopes to challenge Alphabet-owned search engine […]
More U.S. consumers want to buy an electric vehicle (EV) but are concerned about rising prices, while fewer aimed to purchase gasoline-powered vehicles, a survey by consulting firm Deloitte showed on Wednesday. Nearly 7 in 10 prospective EV buyers in the United States expect to pay less than $50,000 for their next vehicle, according to […]
Wall Street’s main indexes closed lower on the first trading day of 2023 with the biggest drags from Tesla and Apple, while investors worried about the Federal Reserve’s interest-rate hiking path as they awaited minutes from its December meeting. Shares in electric vehicle maker Tesla Inc closed down 12 percent after hitting their lowest level […]
Africa is a hub of digitalization. Over the last decade, the continent has proven itself a worthy opponent in the technology race by rapidly adopting technology and innovations. As a result, it implemented practical solutions for the challenges its governments and industries face to better efficiencies, remove barriers, and explore new products or services. The […]
Shopify Technologies Inc on Tuesday launched a new service aimed at big retailers that will allow them to select tools and services the Canadian tech giant offers and integrate it with their own online platform. The company said it had signed up toymaker Mattel Inc for the product, and was looking to bring other enterprise […]