India Enters 5G Era as Debt-Laden Carriers Gird to Spend Billions

To capitalize on 5G, China has been rolling out smartphone apps and industrial projects such as super high-definition live streaming, remote manufacturing, virtual reality and robotic surgery arms. The country’s three state-owned carriers have introduced more than 25,000 such applications, according to a news article posted by the State Council on its website in August. … Read more

Intel’s Mobileye files for listing in first sign of thawing tech IPO market

Sept 30 (Reuters) – Intel Corp’s (INTC.O) self-driving unit Mobileye on Friday unveiled its filing for a US initial public offering, testing support for a high profile stock debut even as the market for new issues has virtually collapsed. The tech IPO market globally is in the middle of its worst drought in almost two … Read more

Ten Things Elon Musk’s Texts Reveal About the Twitter Deal

10. In March, Sam Bankman-Fried, the crypto billionaire, tried to get in touch with Musk through an associate to discuss joining in a deal for Twitter. Musk appeared uninterested — and unaware of Bankman-Fried’s wealth, asking, “Does he have huge amounts of money?”

Exclusive: JPMorgan to hire about 2,000 engineers even as the economy softens

PLANO, Texas, Sept 30 (Reuters) – JPMorgan Chase & Co plans to hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, its global chief information officer, Lori Beer, said on Wednesday. The biggest US lender added a net more than 5,000 software developers and data scientists last year and … Read more

SNAPSHOT Wall St opens lower as inflation data adds to rate-hike worries

Sept 30 (Reuters) – Wall Street’s main indexes opened lower on Friday as resilient core inflation in August stoked fears of more big-sized interest-rate hikes denting a rebound in consumer spending. The Dow Jones Industrial Average (.DJI) fell 102.58 points, or 0.35%, at the open to 29,123.03. The S&P 500 (.SPX) opened lower by 6.99 … Read more

Meta to Cut Headcount for First Time, Slash Budgets Across Teams

He announced the freeze during a weekly Q&A session with employees, according to a person in attendance. He added that the company would reduce budgets across most teams, even those that are growing, and that individual teams will sort out how to handle headcount changes. That could mean not filling roles that employees leave, shifting … Read more

Audit breakthrough fails to lure investors into China ADRs

HONG KONG, Sept 29 (Reuters) – Global fund managers have been selling US-listed Chinese stocks and the index tracking them is sagging badly, suggesting progress toward resolving disputes over their accounts has not been enough to shake investors’ fears about the sector’s outlook . As of last Friday, US long-only funds – or funds that … Read more

S&P 500 ends near two-year low as bear market deepens

S&P 500 closes at lowest since November 2020 Utility, consumer discretionary sectors weigh heavily Investors worry about shrinking corporate profit growth Indexes: Dow -0.43%, S&P 500 -0.21%, Nasdaq +0.25% Sept 27 (Reuters) – Wall Street sank deeper into a bear market on Tuesday, with the S&P 500 recording its lowest close in almost two-years as … Read more

UK’s Labor party surges to largest poll lead over Conservatives – The Times

Britain’s Labor Party leader Keir Starmer attends Britain’s Labor Party’s annual conference in Liverpool, Britain, September 26, 2022. REUTERS/Henry Nicholls Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Britain’s Labor party rose to its largest poll lead in over two decades over the Conservative party, The Times reported on Monday, … Read more

UK’s Labor party surges to largest poll lead over Conservatives – The Times

Britain’s Labor Party leader Keir Starmer attends Britain’s Labor Party’s annual conference in Liverpool, Britain, September 26, 2022. REUTERS/Henry Nicholls Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Britain’s Labor party rose to its largest poll lead in over two decades over the Conservative party, The Times reported on Monday, … Read more