Author: Arabian Media staff
A sharp rise in homeowners-insurance premiums is connected to rising levels of financial distress, especially among first-time buyers. Source link
Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.Mira Murati’s secretive artificial intelligence start-up has named chip giants Nvidia and AMD among its new investors, as the former OpenAI chief technology officer closes one of the largest initial funding rounds in Silicon Valley history.Thinking Machines Lab raised $2bn at a $12bn post-money valuation in a “seed” round, previously reported by the Financial Times, despite saying little about what it is working on.Murati said the company would share a product in the next “couple [of] months”, which would have an “open…
BofA analysts said Chewy’s pharmacy segment and vet clinics stand to benefit from a rebound in pet adoptions. Source link
Stay informed with free updatesSimply sign up to the UK energy myFT Digest — delivered directly to your inbox.Developers of UK wind and solar farms will be offered longer subsidy contracts as ministers try to boost investment into renewable projects in a bid to meet the country’s clean power targets. The government on Tuesday announced an extension to the “contracts for difference” scheme, raising the contract duration to 20 years from the 15-year term that has been in place since 2013. It argued the move would spread the costs of building the infrastructure over a longer period of time and…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Wall Street bank earnings, which kicked off on Tuesday, reveal a truth about volatility. Fluctuating asset prices are great for Wall Street trading desks but less so for businesses that need to make investment decisions, or consumers looking to make big-ticket purchases.JPMorgan and Citigroup both reaped bumper gains from their bond and stock-flipping businesses during the second quarter. But Wells Fargo, the country’s fourth-biggest bank by deposits, relies more on traditional kinds of banking. It lowered its full-year interest income target, as…
The iPhone maker is committing $500 million to buying rare-earth magnets from the company’s flagship facility in Texas, which Apple is helping to build out. Source link
Stay informed with free updatesSimply sign up to the Automobiles myFT Digest — delivered directly to your inbox.French carmaker Renault has named finance chief Duncan Minto as interim chief executive as it lowered its annual guidance, citing weaker than expected sales in June. In a statement on Tuesday, the company said the selection process for a permanent successor to Luca de Meo was “already well under way”. One person familiar with the matter said a new chief executive could be announced by the end of the month. Renault said it now expected an operating margin of around 6.5 per cent…
The U.S. bond market was in the process of selling off on Tuesday in a manner that tends to spell fresh trouble for many stock investors. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Chancellor Rachel Reeves will tell a City of London audience on Tuesday that Britain’s safety-first regulatory culture is acting as “a boot on the neck of business”, as she promises to sweep away red tape across the economy.Reeves will use her annual Mansion House speech to announce what she claims is the biggest cut to financial services regulation in a decade, arguing that Britain has engaged in a corrosive attempt to eliminate risk from the economy.She will say that the drive against…
Inflation in June showed scattered signs of rising costs tied to the Trump tariffs, but Americans simply aren’t paying sharply higher prices because of U.S. trade wars. Here are four things we learned from the latest consumer-price index report. Source link