By Michael S. Derby NEW YORK (Reuters) – The official responsible for implementing Federal Reserve monetary policy said in a speech on Wednesday that the recent announcement to slow the pace of contracting the central bank balance sheet reduces the prospect of market stress, in remarks that also laid out metrics for measuring when liquidity …
NY Fed’s Perli offers guideposts to measure market liquidity levels Read More »
By Martin Coulter LONDON (Reuters) – Google Deepmind has unveiled the third major version of its “AlphaFold” artificial intelligence model, designed to help scientists design drugs and target disease more effectively. In 2020, the company made a significant advance in molecular biology by using AI to successfully predict the behaviour of microscopic proteins. With the …
Google DeepMind unveils next generation of drug discovery AI model Read More »
(Reuters) -Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal. The agreements cover cases in U.S. state courts but don’t completely resolve the company’s exposure to Zantac claims, the report said, adding that …
Pfizer agrees to settle over 10,000 Zantac lawsuits, Bloomberg News reports Read More »
By Howard Schneider WASHINGTON (Reuters) – Through a tumultuous period of high inflation, aggressive interest rate hikes, and global instability, the U.S. Federal Reserve received relatively high marks for its monetary policy communications despite the thicket of uncertainty it has been navigating, according to a survey of academic and private-sector analysts released on Thursday. Responses …
Fed’s communications style scores well with analysts but not public Read More »
By Nupur Anand NEW YORK (Reuters) – Sung Kook “Bill” Hwang, founder of the $36 billion private investment firm Archegos Capital Management which collapsed spectacularly in 2021, arrived in court on Wednesday for the start of his criminal trial. Here is a timeline of the fund’s blow up – one of the biggest in years …
The rise and fall of Bill Hwang’s Archegos Capital Management Read More »
ISTANBUL (Reuters) – Turkey’s competition board fined Meta Platforms 1.2 billion lira ($37.20 million) on Wednesday after concluding two separate investigations on data-sharing in its Facebook, Instagram, WhatsApp and Threads platforms. The board launched an investigation into Meta in December over a possible violation of competition law by linking its social media platforms Threads and …
Turkey’s competition board to fine Meta $37.2 million in data-sharing probe Read More »
(Reuters) – Tripadvisor shares slumped 38% and were on track for their worst day ever on Wednesday, after the online travel agency ruled out a possible sale at this time and posted a surprise quarterly loss. Tripadvisor first disclosed in February that Liberty TripAdvisor Holdings, its controlling shareholder, had been approached by at least one …
Tripadvisor stock sinks as panel rules out sale for now Read More »
(Reuters) -Crypto exchange FTX will have between $14.5 billion to $16.3 billion to pay its creditors and customers, according to an amended reorganization plan filed by the company on Tuesday in a U.S. bankruptcy court. FTX said it has anticipated the figure based on monetizing assets, most of which were investments owned by Alameda Research, …
By Andrea Shalal RACINE, Wisconsin (Reuters) -U.S. President Joe Biden on Wednesday unveiled plans by Microsoft Corp to build a $3.3 billion data center in southeastern Wisconsin, drawing a sharp contrast to his Republican predecessor who had backed a previous $10 billion project at the same site that was significantly scaled back. Biden, on his …
Biden touts new $3.3 billion Microsoft data center at failed Foxconn site Trump backed Read More »
(Reuters) -Online trading app Robinhood Markets beat estimates for first-quarter profit thanks to strong trading volumes and rate hikes that boosted its net interest revenue and sent shares up about 6% after the bell on Wednesday. The company reported a profit of $157 million or 18 cents per share for the three months ended March …
Robinhood beats profit estimates on interest income strength Read More »
