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Federal Reserve Governor Stephen Miran said Friday that the weak February jobs report bolsters the rationale for the central bank to lower interest rates further. Responding to the drop of 92,000 in nonfarm payrolls that the Bureau of Labor Statistics reported Friday, Miran said in a CNBC interview that the Fed should be focusing more…
Asian stocks fell sharply on Thursday, tracking losses on Wall Street, as concerns mounted over the technology sector and the heavy spending on artificial intelligence cautioned investors.Hong Kong’s HSI was trading below 111 points or 0.44% at 25,357 at 10:38 AM IST. Nikkei also trimmed over 422 points to reach 49,089. Kospi also lost 1.39%…
Calling the U.S. the “crypto capital of the world,” Commodity Futures Trading Commission (CFTC) Chairman Mike Selig updated his agency’s ongoing plans to provide long-awaited regulatory clarity for decentralized finance (DeFi) developers, crypto derivatives and prediction markets. Speaking this week at the FIA Global Cleared Markets Conference in Boca Raton, Florida, Selig said the U.S….
Representative image (AI) HYDERABAD: Energy transition player AM Group (AMG), which is backed by the founders of Greenko Group, plans to set up a 1 GW (gigawatt) high performance AI infrastructure hub in Uttar Pradesh’s Greater Noida region at an investment of $25 billion.The mega project, aimed at setting up a high-performance compute hub to…
AI is infiltrating every layer of society, finance included. What began as asking ChatGPT about your deepest money worries has rapidly evolved into agents capable of reasoning, executing and coordinating across markets with minimal human intervention. The pace of change at the intersection of AI and finance is daily, not weekly. Goldman Sachs has warned…
Hyderabad & Mumbai: Silver’s unprecedented surge continued Friday. In late trades on the New York Commodity Exchange (Comex) the price of the white metal crossed the psychologically important $100-per-ounce (Oz) mark for the first time in history. Gold, which has gained at a much slower pace than silver in recent months, neared the $5,000/Oz mark.In…
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The accident in Cuddalore, Tamil Nadu (Image courtesy: TOI Chennai) NEW DELHI: At least seven people were killed on Wednesday after a government bus swerved and collided with two cars in Tamil Nadu’s Cuddalore, police said. A tyre burst caused the bus to change direction and crash head-on into the cars.“The bus collided with two…
NEW DELHI: A Delhi court on Saturday ordered the release of Christian James Michel from custody in a money laundering case linked to the AgustaWestland VVIP chopper scam, holding that he has already spent the ‘maximum period’ of incarceration prescribed for the offence.Allowing Michel’s plea seeking release in the case filed by ED, special CBI…
