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Waymo to offer autonomous rides in Nashville on Lyft ride-hailing network

By Norihiko Shirouzu (Reuters) -Alphabet’s Waymo plans to start offering autonomous cab rides in Nashville next year in collaboration with ride-hailing firm Lyft, the two companies said. Riders in the Music City will initially be able to hail self-driving cabs through the Waymo app. As the service grows, riders will also be able to use …

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Groq more than doubles valuation to $6.9 billion as investors bet on AI chips

(Reuters) – Chip startup Groq said on Wednesday it has raised $750 million, more than doubling its valuation to $6.9 billion in just over a year as Wall Street bets big on the hardware that powers artificial intelligence technology. Groq, founded by a former Alphabet engineer, is among a long list of new chip players …

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US 30-year mortgage rate drops, refinances jump, MBA data shows

(Reuters) -The interest rate on the most popular U.S. home loan dropped last week to its lowest in a year, sending homeowners racing to lock in cheaper borrowing costs as slowing jobs growth and expectations for a Federal Reserve interest-rate cut drive down yields on benchmark Treasuries. The Mortgage Bankers Association on Wednesday said the …

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YouTube, new leader of US media industry, bets on AI as key for creating content

By Kenrick Cai NEW YORK (Reuters) -On its 20th birthday, YouTube is unrecognizable as the scrappy video site that began as the domain of young amateur users publishing unpolished, low-budget clips. Commanding 2.7 billion users, including celebrities like British pop star Dua Lipa who share professional-grade content, YouTube has become the most popular way for …

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Fed’s new projections to account for turbulent period as Miran joins debate

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The end of the Federal Reserve’s policy meeting on Wednesday will convey a three-part message for investors, showing how much officials have reshuffled their outlooks to account for a weakening job market, how divided the U.S. central bank is becoming over the interest rate path and whether …

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Analysis-Fed rate cuts could set stage for broader US stock gains

By Lewis Krauskopf NEW YORK (Reuters) -The resumption of monetary easing by the U.S. central bank could add to and broaden Wall Street’s rally, investors say, though such a boost might already be priced in and could depend on whether lower interest rates help the economy avoid a significant downturn. The Federal Reserve is widely expected …

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Commerzbank CEO sees likely revenue hit in ‘unfriendly’ UniCredit deal

FRANKFURT (Reuters) – Commerzbank CEO Bettina Orlopp on Wednesday labelled UniCredit’s approach for a potential merger as “unfriendly” and said that any deal would likely hurt revenue. Orlopp also said a focus on cutting costs under any deal would not be easy or free of risk. The comments underscore the scepticism by the German lender …

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Analysis-Why Trump’s push to nix quarterly reporting may succeed this time

By Douglas Gillison and Michelle Price WASHINGTON (Reuters) -President Donald Trump’s renewed push to nix quarterly corporate disclosures, a drive that went nowhere in his first administration, has a better chance this time as the White House takes more control of the Securities and Exchange Commission’s agenda. Trump on Monday called for the SEC to …

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