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By Lewis Krauskopf NEW YORK (Reuters) – The stock market faces its first major test of the year in the coming week, with investors counting on the U.S. jobs report to show a stable but not overheated economy that underpins expectations for equity gains in 2025. Stocks wobbled at the end of December and the start of January, cooling off after a torrid run. The benchmark S&P 500 closed 2024 with a 23% rise and … Read more…
By Jonathan Stempel NEW YORK (Reuters) – PayPal has been sued by an Asian American businesswoman who accused the digital payments company of racial bias for restricting part of a $535 million investment program to Black and Hispanic applicants, costing her millions of dollars. Thursday’s complaint by Nisha Desai and her New York-based venture capital firm Andav Capital is part of a growing push among some conservatives to curtail diversity, equity and inclusion initiatives in … Read more…
By Joey Roulette WASHINGTON (Reuters) -Elon Musk’s SpaceX said on Friday its upcoming Starship test flight would include the rocket’s first attempt to deploy payloads in space by releasing 10 model Starlink satellites, a key demonstration for Starship’s potential in the satellite launch market. “While in space, Starship will deploy 10 Starlink simulators, similar in size and weight to next-generation Starlink satellites as the first exercise of a satellite deploy mission,” SpaceX said in a … Read more…
(This Dec. 23 story has been corrected to fix the spelling of ‘Jonah Crane’ in paragraphs 15 and 18) By Hannah Lang (Reuters) – The cryptocurrency industry is pushing President-elect Donald Trump’s team to kick start his promised crypto policy overhaul when he takes office next month with executive orders that would help push tokens mainstream, according to industry officials. Trump plans to issue a flurry of executive orders and directives on everything from immigration … Read more…
(Reuters) – Nvidia emerged as the biggest global gainer in market capitalization for 2024, driven by surging interest in artificial intelligence and the robust demand for its AI-centric chips across various industries. The chipmaker’s market value increased by over $2 trillion last year, reaching $3.28 trillion at the close of 2024, making it the second-most valuable listed company in the world. Its market value was $1.2 trillion at the end of 2023. Meanwhile, Apple continued … Read more…
By Aditya Soni, Arsheeya Bajwa, Krystal Hu (Reuters) -OpenAI on Friday outlined plans to revamp its structure, saying it would create a public benefit corporation to make it easier to “raise more capital than we’d imagined,” and remove the restrictions imposed on the startup by its current nonprofit parent. The acknowledgement and detailed rationale behind its high-profile restructuring confirmed a Reuters report in September, which sparked debate among corporate watchdogs and tech moguls including Elon … Read more…
TAIPEI (Reuters) -Taiwan’s defence ministry said on Thursday that Chinese warplanes and warships had carried out the first “combat patrol” around the island of the New Year, after Taiwan President Lai Ching-te again expressed willingness to talk to Beijing. China, which views democratically governed Taiwan as its own territory, sends its military into the skies and waters near the island on an almost daily basis, and holds what Taiwan calls “joint combat readiness patrols” several … Read more…
By Johann M Cherian and Pranav Kashyap (Reuters) – Wall Street’s main indexes slipped in the last trading session of 2024 as Treasury yields rose, but the benchmark S&P 500 remained on course to notch its biggest two-year rally in more than two decades. The index has surged more than 50% in the past two years and is trading near record highs, while the Dow and the Nasdaq are also set for their second consecutive … Read more…
By Nathan Layne WEST PALM BEACH, Florida (Reuters) – Washington Mayor Muriel Bowser said she had a great meeting with President-elect Donald Trump at his Florida resort and voiced optimism that they would find common ground despite their past clashes. Bowser met Trump at his Mar-a-Lago home for about 45 minutes on Monday, a spokesperson for the mayor’s office said on Tuesday. The meeting was arranged at Bowser’s request, the spokesperson said. The three-term Democratic … Read more…
(Reuters) -The Ukrainian military said on Tuesday its forces had hit a Russian oil depot in the western Smolensk region, setting fire to tanks storing oil products. Ukraine’s general staff said on the Telegram app that the depot was used for military purposes. It did not specify the weapon used for the strike but said it was carried out in cooperation with drone forces. Smolensk region governor Vasily Anokhin said that the attack caused a … Read more…