US TECH
Amazon Fourth of July Sales 2024: Steep discounts on hundreds of items: Kitchen equipment, luggage essentials, Apple tech and more
The retail giant has come out with Amazon's Fourth of July Sales 2024, which spans every category, including home and kitchen items, luggage essentials, Apple tech and more. Buyers can find all their favorite Fourth of July sales on Amazon. Amazon has offered discounts on hundreds of items ranging from cosmetic products and household equipment to electronic gadgets.
Japan's Nikkei rises as tech stocks track US growth shares
The machinery sector outperformed all other segments, leading as the top performer among TSE's 33 industry sub-indexes.
Echoes of dotcom bubble haunt AI-driven US stock market
AI enthusiasm, along with a robust economy and improved earnings, has driven the S&P 500 index to new highs this year, surging over 50% since October 2022. The Nasdaq Composite, heavily influenced by technology stocks, has soared more than 70% since the end of 2022. While several internet stocks such as Amazon survived and eventually thrived, others never recovered.
Who is Rishi Shah: The man who defrauded Goldman Sachs, Google of $1 billion
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for orchestrating a $1 billion fraud scheme involving his healthcare advertising startup. The case has impacted major investors and drawn attention to corporate accountability.
As AI gains a workplace foothold, US trying to make sure workers don't get left behind
Bridging the digital equity gap through AI education is crucial. Marvin Venay stresses the importance of inclusive initiatives for overcoming barriers. Accessible internet and affordable technology are essential components for empowering individuals with AI knowledge and skills.
Elon Musk says X saw record usage during US presidential debate
President Biden's debate performance satisfaction contrasts with Democrats' doubts about his competitiveness against Trump, reflecting uncertainties in the upcoming election.
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Tech boom leads global markets through first half of 2024
The first half of 2024 was marked by soaring mega caps, political uncertainties, and remarkable movements in commodities and emerging markets. From Nvidia's market value surge to Japan's weakening yen and the rise of cryptocurrencies, the period reflected a mix of challenges and opportunities shaping the global economy.
US-India held frank talks on Delhi's defence tech ties with Russia, says US Dy Secy of State Campbell
US Deputy Secretary of State Kurt Campbell emphasized the importance of frank dialogue with India regarding New Delhi's ties with Russia, particularly in the technology sector, including defense. Despite US concerns about potential technology leakage to Russia due to India's use of Russian defense equipment, Campbell expressed trust and confidence in India's capabilities. He noted that while there are disagreements, both countries maintain respectful discussions. Campbell also highlighted discussions on the Quad initiative during recent meetings between US National Security Advisor Jake Sullivan and India's NSA Ajit Doval, affirming strong commitment to hold the Quad summit by year-end.
US stocks struggle for direction as investors evaluate tech trade
Financial markets experience shifts as key tech and retail companies show varied performance. Wall Street awaits crucial inflation data. Analysts predict possible sector rotation based on earnings and inflation trends.
European tech must keep pace with US, China: Meta's Nick Clegg
Europe is lagging behind both the United States and China when it comes to technology and innovation, top executive with US firm Meta Nick Clegg has told AFP. Clegg, president of global affairs at the parent company of Facebook, Instagram and WhatsApp, said Europe had a "real problem". Clegg has spearheaded previous efforts by Meta to invest in tech in Europe, announcing in 2021 that the US firm would create 10,000 jobs there to help build the "metaverse".
Apple stops Buy Now Pay Later in US: How will it affect new users?
'Buy Now Pay Later' scheme by Apple Pay Later has now been stopped in the United States, an initiative that was launched only last year. This may now pose a new challenge for Apple enthusiasts planning to purchase products on installment. In the coming days, it will get reflected whether this call by Apple has created any effect on its device purchase ratio.
Wall St Week Ahead: Rally in US big tech stocks may be getting stretched
The blistering rally in U.S. big tech stocks, particularly in the S&P 500, may be due for a breather amidst concerns of overheating, especially with Nvidia Corp's significant gains. Market segments like utilities are lagging behind tech stocks, prompting investors to consider value stocks as potential bargains.
US proposes targeted restrictions for AI, tech investment in China
The U.S. proposed rules to regulate investments in China to prevent sensitive technology development, supported by Treasury Assistant Secretary Paul Rosen.
US billionaire eyes TikTok takeover to save internet from Big Tech
Frank McCourt, a US real estate billionaire, aims to buy TikTok to rescue the internet from the clutches of major platforms that he firmly believes are destroying society and endangering children. To address the problem, McCourt is campaigning for a "new internet" which, he claims, would wrest control of the web away from major platforms like Instagram, YouTube, TikTok, or X. "These platforms have hundreds of thousands of individual attributes about each of us.
Indian IT engineers are a cricket craze in the US
Indian IT professionals from companies like Cognizant, ServiceNow, and Cigniti are actively involved in promoting cricket in the USA during the T20 World Cup matches. The IT industry's role includes owning cricket franchises, sponsoring leagues, and even participating in matches. They are contributing to the growth of cricket in North America, with Indian origin players like Saurabh Netravalkar and Nosthush Kenjige playing for the USA team.
Asian stocks rise on tech rally, Fed rate cut wagers
Asian shares rose to a three-week high driven by tech stock rally as the dollar struggled post soft U.S. retail sales data, hinting at potential Fed rate cuts.
US, India must stay at tech forefront, says Ajit Doval
India and the US must remain at the forefront of technology to protect and defend their value systems and strategic interests. National Security Advisor Ajit Doval and American counterpart Jake Sullivan attended the Initiative for Critical and Emerging Technology (iCET) Industry Roundtable. They discussed the importance of innovation, production, and deployment in technology partnerships.
US sues Adobe over hard-to-cancel subscriptions
The Justice Department said in its lawsuit that Adobe hid details of an expensive cancellation fee from consumers "in fine print and behind optional text boxes and hyperlinks." Adobe's website and customer service representatives made canceling additionally challenging, according to allegations in the suit.
US as many as 15 years behind China on nuclear power, report says
China has 27 nuclear reactors under construction with average construction timelines of about seven years, far faster than other countries, said the study by Information Technology & Innovation Foundation, a Washington-based nonpartisan research institute.
Google loses bid to end US antitrust case over digital advertising
Google had argued for a win without a trial, saying that antitrust laws do not block companies from refusing to deal with rivals and that regulators had not accurately defined the ad tech market.
Global traders flood American markets in search for safety
International investors are flooding American markets with $30 billion in stock funds, mainly targeting US tech shares. The S&P 500 and long-dated Treasuries are outperforming global markets amid economic and political uncertainties.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
Judge rules Google will not face jury trial in US digital ads case
Google avoids jury trial by paying $2.3 million to U.S. government for alleged digital advertising dominance, preventing the first-ever civil antitrust case jury trial by the Justice Department and states suing the tech giant.
Explainer: Why the few big AI players worry US antitrust regulators
U.S. antitrust enforcers are investigating Big Tech's impact on the AI sector, looking into potential competition issues. Key concerns include data access advantages, impact on workers, and partnerships with Big Tech firms.
What should investors do with defence stocks? Mayuresh Joshi answers
However, I think for markets with India perspective we are very-very light right now, we still like to see over the next couple of days of what transpires on the political front and therefore the initiatives that will be taken over the next few days and specifically in the budget in terms of allocations are going to be extremely critical.
European stocks at record on tech and ECB bets
The pan-European STOXX 600 benchmark rose by 0.7%, with the technology subindex surging 2.6%, driven by significant gains from Wall Street's tech giants.
Donald Trump joins the TikTok video platform he once sought to ban
Politico, which first reported the news, said he posted a launch video on his account on Saturday night. The video showed Trump greeting fans at an Ultimate Fighting Championship fight in Newark, New Jersey.
Nasdaq falls 1%; Salesforce shares weigh on tech
Nasdaq dropped due to tech and communication services sector declines, and slower Q1 growth per Commerce Dept. report.
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