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Amazon announces new slate of AI models

By Greg Bensinger LAS VEGAS (Reuters) -Amazon announced a new slate of artificial intelligence platforms, known as foundation models, at its annual AWS conference, allowing for text, image and video generation among other things. The new offerings pit it against rivals like Adobe and Meta that are racing to serve customers who want to automate more of their services. Amazon’s CEO Andy Jassy announced the new “Nova” models on Tuesday. Developers, Jassy said, had a … Read more…

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Factbox-From Boeing to Intel: CEO exits at major global companies in 2024

(Reuters) – Several global companies, including aircraft manufacturer Boeing and struggling chipmaker Intel, have witnessed the departure of their CEO’s this year, with a handful of firms opting for seasoned executives to fill these leadership voids. The following is a list of top-management shake ups announced at major companies this year: INTEL – PAL GELSINGER Intel CEO Pat Gelsinger stepped down from his role on Dec. 1, less than four years after taking the helm … Read more…

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Bumble CFO to step down next year amid growth challenges

(Reuters) – Bumble said on Monday Anu Subramanian will step down as chief financial officer, effective March 14, 2025. Subramanian, who joined the dating app operator as CFO in 2020, played a key role in the company’s initial public offering in 2021. Bumble has begun searching for Subramanian’s successor. Shares of the company fell 1.7% in early morning trading. In other leadership changes, Bumble’s Chief Marketing Officer, Selby Drummond, is also departing in January next … Read more…

Amazon to pilot AI-designed material for carbon removal

By Jeffrey Dastin (Reuters) – Amazon.com Inc plans to pilot a new carbon-removal material for data centers, which are at risk of worsening emissions from artificial intelligence systems they power, a startup behind the deal said on Monday. In a twist, AI itself, from the startup Orbital Materials, is what designed the carbon-filtering substance, its Chief Executive Jonathan Godwin said. “It’s like a sponge at the atomic level,” Godwin told Reuters. “Each cavity in that … Read more…

US proposes $7.54 billion loan to Stellantis, Samsung SDI battery joint venture

By David Shepardson WASHINGTON (Reuters) -The U.S. Energy Department said Monday it is planning to loan up to $7.54 billion to a joint venture of Chrysler parent Stellantis and Samsung SDI to help build two electric vehicle lithium-ion battery plants in Indiana. The conditional commitment award must still be finalized and includes $6.85 billion in principal and $688 million in capitalized interest for the StarPlus Energy joint venture. The venture will build batteries in Kokomo, … Read more…

The Armored Bull – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) The indexes were all up Friday after a week of daily gains. The market was up in a majority of sectors, including the cryptocurrencies. The Dow Jones Industrial Average surged, up 426 points on Friday as all indexes finished positive. Bitcoin tickled $100,000, ending the day hovering in the $99,000 area. The Dollar was strong against the Euro and British Pound as both currencies weakened on fears of massive … Read more…

JPMorgan sees Latam company earnings rebounding 16% in 2025

By Siddarth S (Reuters) – After a disappointing 2024, Latin American companies are expected to see earnings rebound around 16% next year, JPMorgan calculations showed, with almost all countries except Colombia set for double-digit growth. This year, earnings at companies in the region are estimated to have contracted by 24%, JPMorgan analyst Cinthya Mizuguchi said in a note to clients. “For 2024, LatAm stands as the worst region both in terms of performance but also … Read more…

Trump’s tariffs could cost carmakers up to 17% of combined core profits, S&P says

(Reuters) – European and American carmakers are set to lose up to 17% of their combined annual core profits if the U.S. imposes import tariffs on Europe, Mexico and Canada, S&P Global said in a report on Friday, warning of potential credit downgrades. Premium automakers Volvo and Jaguar Land Rover, who mostly produce in Europe, and groups General Motors and Stellantis, who assemble high volumes of cars in Mexico and Canada, are most exposed to … Read more…

Drone drops paint over Russian embassy in Sweden

STOCKHOLM (Reuters) -An unidentified drone flew over the Russian embassy in Stockholm early on Friday, dropping paint on the grounds of the diplomatic compound, Swedish police said. No arrests have been made and no suspects identified, a police spokesperson added. “We insist that all incidents against the Russian embassy be thoroughly and impartially investigated and that the perpetrators be found and brought to justice,” Russia’s embassy in Sweden said in a statement. Investigators will look … Read more…

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Oil faces uphill fight as demand woes, oversupply challenge OPEC efforts: Reuters poll

By Anmol Choubey and Brijesh Patel (Reuters) – Oil prices could stall in 2025 as economic weakness in China clouds the demand picture and ample global supplies outweigh support from an expected delay to a planned OPEC+ output hike, a Reuters monthly poll showed on Friday. The survey of 41 economists and analysts predicted that Brent crude would average $74.53 per barrel in 2025, down from a forecast of $76.61 in October. That is the … Read more…