Google has partnered with with French telecommunications firm Orange through its corporate venture fund to invest in start-ups in Europe, the Middle East and Africa. Orange said Thursday that its 350 million euro ($409 million) venture capital fund, called Orange Digital Ventures, would jointly assess investment opportunities in industries like network connectivity, cybersecurity, cloud, artificial […]
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Renewed favor for safe haven assets in May has pushed the U.S. dollar to trade at its highest level of the year. Its steep run-up has set it up for a pullback, says one market watcher. “The dollar has become very overbought,” Matt Maley, equity strategist at Miller Tabak, told CNBC’s “Trading Nation” on Wednesday. […]
Read more“How can I contact Silvergate?” a young, dark-haired man in a black hoodie asked frantically at last month’s Consensus conference, a massive gathering in New York City for those interested in bitcoin and its underlying blockchain technology. It was after hours, and Silvergate’s exhibit booth had closed for the day. The man, one of thousands […]
Read moreGeneral Motors said Thursday SoftBank Vision Fund plans to invest $2.25 billion in GM Cruise Holdings, further boosting the automaker’s efforts with autonomous vehicle technology. The news sent GM shares soaring premarket trading, rising more than 8 percent. GM also will make a $1.1 billion investment in GM Cruise once the deal has closed. The […]
Read moreOne top Wall Street firm is getting less bullish on Micron after the stock’s stunning performance so far this year. Morgan Stanley lowered its rating to equal-weight from overweight for the chipmaker, citing the company’s fully priced valuation. “After being bullish on memory for the last two years, we are moving to a neutral stance. […]
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US metal tariffs are ‘99.9%’ done and will impact Mexico, Canada and the EU: Source
The United States is likely to impose steel and aluminum tariffs on Canada, Mexico and the EU Thursday, according to a source familiar with the decision. The source, who preferred to remain anonymous due to the sensitivity of the situation, said the tariff decision is coming this morning and is “99.9” percent done. The U.S. […]
Read moreEuro zone inflation jumped by far more than expected in May on higher energy costs, bringing relief to the European Central Bank after market turbulence that has jeopardized its planned exit from a lavish stimulus program. Inflation in the 19 countries sharing the euro rose to 1.9 percent from 1.2 percent in April, EU statistics […]
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Italy's populists launch fresh attempt at forming a government amid political chaos
Italian assets were on the rise Thursday on the back of hopes that the country is close to forming a government. Technocrat politician Carlo Cottarelli, who at one stage was himself prime minister-designate, said in a statement that “new possibilities for the birth of a political government have emerged.” This has been taken as an […]
Read moreUber is in discussions with Alphabet’s Waymo to add the latter’s self-driving cars to its platform, Chief Executive Dara Khosrowshahi said Wednesday. Speaking at the Code Conference in Rancho Palos Verdes, California, Khosrowshahi said that Uber’s relationship with Alphabet-owned Google was improving and that Uber was “having discussions” with Waymo. “You build relationships slowly but […]
Read moreDannon has settled its lawsuit against a former senior sales executive it accused of stealing confidential business strategies and employee salary data before jumping to yogurt-making rival Chobani. The confidential settlement between Dannon, a unit of France’s Danone, and Federico Muyshondt, who oversaw sales in the eastern U.S. and to supermarket chain Kroger, was disclosed […]
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