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IBM warns AI boom is squeezing software budgets; shares sink in sector rout
IBM warns that ai infrastructure spending is cutting into software budgets, forecasting weaker revenue growth and causing shares to fall sharply.
Fed’s Waller says rate hike may be needed if core inflation stays hot
Federal Reserve Governor Christopher Waller warns of a possible near-term rate hike if core inflation remains above the 2% target amid rising price pressures.
Oil up 9% to one-month high as US says it will blockade entire Iranian coastline, all vessels
HOUSTON, July 13 (Reuters) – Oil prices settled up more than 9% on Monday at a one-month high after news that a United States’ naval blockade due to begin on Tuesday will cover Iran’s entire coastline, ports and oil terminals, as well as all vessels regardless of flag, reigniting concerns over energy shipments [...]
White House to rally utilities, data centers for AI power cost pledge, sources say
WASHINGTON, July 13 (Reuters) – The White House plans to bring together utility companies and data center developers to make a voluntary pledge designed to ensure that rapid growth in electricity demand from artificial intelligence does not drive up power bills for households and businesses, according to three people famil[...]
California, 11 states suing to block Paramount’s $110B Warner Bros deal
NEW YORK/LOS ANGELES, July 13 (Reuters) – California and 11 states are suing to block Paramount’s $110 billion acquisition of Warner Bros. Discovery, alleging the deal would lessen competition in film distribution and cable television, harming theaters and TV distributors. The lawsuit is a serious threat to Paramount[...]
Trump: Iran blockade reinstated, US to charge 20% on Strait of Hormuz cargo
WASHINGTON, July 13 (Reuters) – President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway. “The Hormuz Strait is OPEN, and will remain OPEN, w[...]
OpenAI’s AGI deployment chief Fidji Simo to step down after medical leave
After an extended medical leave for a neuroimmune condition, OpenAI CEO of AGI deployment Fidji Simo will step down from her full-time role.
SK Hynix’s marquee US debut to test AI appetite
SK Hynix's $26.5 billion U.S. share sale debut tests investor confidence in the ai chip boom amid recent semiconductor stock pullback.
Fed’s Warsh taps broad group of Fed outsiders to oversee review
Five task forces will review the U.S. central bank's operations, including impact of artificial intelligence.
Fed’s Williams expects energy prices to abate even as Iran war flares
New York Federal Reserve President John Williams doesn't expect sustained rise in energy prices.
Apple to spend $30B on Broadcom chips as it boosts US sourcing
Apple plans to spend over $30 billion on Broadcom chips through 2031, expanding U.S. sourcing and supporting domestic chip manufacturing efforts.
Bezos’ Blue Origin seeks first outside funding at $130B valuation, NYT DealBook reports
Blue Origin aims to raise $10 billion in its first outside funding round at a $130 billion valuation, competing with SpaceX's growing market presence.
