The Norwegian wealth fund posts a record loss of $164 billion

The Norwegian wealth fund posts a record loss of 4 billion

The loss in 2022 surpasses the previous record set in 2008 Inflation and geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan. 31 (Reuters) – The Norwegian wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion kroner ($164.4 billion) for 2022, … Read more

US stops granting export licenses to China’s Huawei – sources

US stops granting export licenses to China’s Huawei – sources

Jan 30 (Reuters) – The Biden administration has stopped approving licenses for US companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions around items for 5G and other technologies for several years, but U.S. Department of Commerce officials have issued licenses to … Read more

China’s Baidu launches ChatGPT-like bot in March – source

China’s Baidu launches ChatGPT-like bot in March – source

BEIJING, Jan. 30 (Reuters) – Chinese internet search engine Baidu Inc (9888.HK) plans to launch an artificial intelligence (AI) chatbot service in March, similar to OpenAI’s ChatGPT, a person familiar with the matter said to Reuters. The tech company plans to launch the service as a standalone application and gradually merge it with its search … Read more

China’s 2022 smartphone shipments the lowest in 10 years, research firm says

China’s 2022 smartphone shipments the lowest in 10 years, research firm says

SHANGHAI, Jan. 29 (Reuters) – China’s smartphone sales fell 13% year on year in 2022, the industry’s biggest decline in a decade, as consumers spend cautiously, market research firm IDC said on Sunday. The total number of devices shipped was 286 million, up from 329 million in 2022. That meant total sales volume in 2022 … Read more

FTX founder Bankman-Fried objects to tougher bail, says prosecutors have him ‘sandbagged’

FTX founder Bankman-Fried objects to tougher bail, says prosecutors have him ‘sandbagged’

NEW YORK, Jan. 28 (Reuters) – Lawyers for Sam Bankman-Fried on Saturday urged a US judge not to bar the indicted FTX cryptocurrency manager from communicating with former colleagues as part of his bail. client in the ‘worst possible light’. The lawyers were responding to a Friday night request from federal prosecutors that Bankman-Fried not … Read more

Wall Street ends higher, posts weekly gains as Fed meeting looms

Wall Street ends higher, posts weekly gains as Fed meeting looms

PCE: Inflation Cools With Consumer Spending American Express, Visa move higher on strong demand Chevron falls after missing earnings estimates Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95% NEW YORK, Jan. 27 (Reuters) – Wall Street moved ahead on Friday, marking the end of a rocky week in which economic data and corporate earnings expectations … Read more

EV maker Lucid rises on report Saudi PIF to buy remaining stake

EV maker Lucid rises on report Saudi PIF to buy remaining stake

27 Jan. (Reuters) – Shares of Lucid Group (LCID.O) rose 43% on Friday, a drop in earnings after doubling market speculation that the Saudi Arabian Public Investment Fund (PIF) was looking to buy out the electric vehicle maker. The speculation stemmed from an “uncooked” warning attributed to deals website Betaville, which used the term for … Read more

Japan tightens Russian sanctions after deadly missile attacks in Ukraine

Japan tightens Russian sanctions after deadly missile attacks in Ukraine

TOKYO, Jan. 27 (Reuters) – Japan on Friday tightened sanctions against Russia following the latest wave of missile strikes in Ukraine, adding goods to a list of export bans and freezing the assets of Russian officials and entities. The decision comes after Russia launched missile strikes into Ukraine that killed at least 11 people on … Read more