Britains Financial Conduct Authority warns of new risks as banks adopt agentic AI for customer-facing applications. This advanced AI can make decisions and take actions independently, potentially revolutionizing how people manage their money. Major banks like NatWest, Lloyds, and Starling are already testing the technology. However, concerns about financial stability, governance, and AI reliability persist, with the FCA planning to hold bank executives accountable and ensure customer protection.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
The European Union is expanding its carbon border levy to include car parts and washing machines, aiming to ensure more products contribute to its climate goals. This policy, known as the Carbon Border Adjustment Mechanism (CBAM), is the worlds first carbon border tariff, placing fees on imported items with high emissions. Despite causing friction with trading partners, the EU is determined to strengthen the levy, extending it to cover more products. Additionally, the EU plans to crack down on foreign companies under-reporting emissions, potentially applying default emissions values to their products. Since the levys announcement, countries like China, India, and Brazil have started developing or expanding their own carbon pricing systems, indicating the CBAMs impact on global climate efforts.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
HashKeys IPO struggles amidst crypto market downturn, investors question profitability; company focuses on Hong Kong market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
MoEngage, a customer engagement platform, secured $180 million in funding, valuing it at over $900 million. The company plans to use the funds for AI development, expanding tools for marketing and product teams, and potential acquisitions. This funding structure indicates MoEngages maturity and flexibility in decision-making.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Asian markets experienced a mixed day of trading, with technology shares rallying and oil prices surging due to U.S. sanctions on Venezuela. U.S. stock futures edged lower, while Tokyo and Australias markets declined. South Koreas Kospi advanced, driven by chip makers. Global markets are influenced by varying factors, including inflation concerns and geopolitical tensions.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Former Theta Labs executives file whistleblower lawsuits against CEO Mitch Liu, alleging years of deception, market manipulation, and retaliation. The complaints detail a pattern of self-dealing involving Theta Lab’s crypto tokens and NFT marketplace, with Liu accused of using the company as his personal trading vehicle and committing fraud. The lawsuits also claim false bids for NFTs linked to celebrity partnerships and schemes to inflate THETA Token prices for personal gain.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Two major railroad unions withdraw support for Union Pacific and Norfolk Southern merger, citing safety concerns, potential rate hikes, and service disruptions. The Brotherhood of Locomotive Engineers and Trainmen, along with the Brotherhood of Maintenance of Way Employes Division, join other critics like the American Chemistry Council and agricultural groups in opposing the deal. The U.S. Surface Transportation Board will review the merger under a stringent standard, requiring proof it serves the public interest and enhances competition.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Amazon potentially investing over ten billion dollars in OpenAI, following a major restructuring, could significantly reshape the AI landscape. This move comes as tech giants like Microsoft and Amazon are spreading their bets across the generative AI market, with Amazon already investing in Anthropic. The intense demand for computing power is driving these investments, with AWS and OpenAI making substantial infrastructure commitments. This period marks rapid growth and strategic maneuvering in the AI industry.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Cantor Fitzgerald predicts Hyperion DeFi and Hyperliquid Strategies could reach a staggering two hundred billion dollar valuation, positioning them as active participants in the Hyperliquid ecosystem. This comparison to Solana, a foundational layer one platform, suggests Hyperliquids fee structure could generate over five billion dollars in annual fees. With potential gains in market share from traditional venues, Hyperliquid could see hundreds of billions in additional volume and hundreds of millions in annual fees. Meanwhile, Bitcoin and Ether trade slightly higher today, while gold and Asia-Pacific markets show mixed results.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Despite the S&P 500s low dividend yield, Nike stands out with a 2.4% yield, double the average. However, Nikes stock price has struggled, peaking in late 2021 and now trading at a third of that value. Analysts predict a 23.6% earnings drop this year, but a significant rebound of over 56% in the next. Despite challenges like a slowing Chinese market and tariffs, Nike could offer higher payouts for patient investors.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Hashkey Group, a leading digital asset firm, began trading in Hong Kong after its IPO, handling over $1.7 trillion in trading volume. Despite a 26% drop in revenue, the company raised $1.6 billion. Hong Kong, with its clear regulatory framework, is seen as a bridge between Eastern and Western markets, attracting crypto companies and investors.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
The Bureau of Labor Statistics final employment report for the year reveals a stagnant job market, with unemployment above four point five percent and wage growth slowing. Job growth was uneven, with healthcare and social assistance leading the way, while manufacturing and construction showed mixed results. The report, released after a rare Tuesday release due to the government shutdown, highlights a challenging job market for many seekers, with worker confidence low and quit rates at a two-year low. Wage growth has cooled, making it harder for workers to negotiate higher pay, and the unemployment rate has risen, indicating a more difficult job search, particularly for those experiencing long-term unemployment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Monzos CEO, T. S. Anil, steps down amidst disagreements with the board over international growth plans and IPO timing. Diana Layfield, a former Google executive, takes over as CEO, aiming to expand Monzo globally and guide it towards a public listing.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Jared Kushners Affinity Partners withdraws financial backing from Paramounts Warner Brothers Discovery bid, citing changed investment dynamics. Paramounts offer still supported by Persian Gulf wealth funds, despite Trumps criticism of Ellison familys treatment by CBS News.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Optimism soars as Bank of Americas fund managers survey reveals a three-and-a-half-year high in bullishness, driven by expectations of a soft landing for the US economy and stable macroeconomic conditions. Cash levels hit record lows, indicating high investor participation and confidence. A majority anticipate a gradual economic cool-down, with global growth expectations at their most optimistic since August 2021. Corporate profit expectations also surge, but concerns linger over potential AI bubble bursts, private credit crashes, and overcrowded tech stocks.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
Robinhood is making waves in the prediction market space, introducing parlay-style bets on NFL games and real-time wagers on player performances. These enhancements, unveiled at their YES/NO keynote, aim to make Robinhood a leader in prediction markets. With prediction markets already generating significant revenue, Robinhoods expansion into this area is seen as a key growth opportunity, potentially positioning them as the new Schwab for Gen Z.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
The final three-coin sets of the U.S. penny, featuring a gold coin with the Greek letter Omega, sold for nearly seventeen million dollars at auction. This record-breaking sale marked the end of the pennys production, following President Trumps order in November. The auction, structured into 232 lots, saw immense public interest, with the final lot fetching eight hundred thousand dollars.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
HashKey Holdings, a Hong Kong-based crypto exchange, made a strong debut on the market, with shares climbing by 6.6% on their first day of trading. The company, which offers services like asset management, brokerage, and tokenization, raised $206 million in an initial public offering. The high demand for HashKeys shares, with the institutional investor portion oversubscribed by 5.5 times and the retail tranche nearly 394 times oversubscribed, reflects growing investor confidence in the regulated cryptocurrency sector in Asia.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
MetaX Integrated Circuits, founded by former AMD executive Chen Weiliang, saw its shares skyrocket by nearly six hundred percent on its Shanghai stock market debut, raising six hundred million dollars. This impressive debut follows Moore Threads strong listing, highlighting Chinas push to accelerate domestic AI chip listings. Analysts at Guotai Haitong Securities emphasize the potential of the AI chipmaking industry in China, projecting sales to reach over one hundred eighty-nine billion dollars by 2029, as the nation strives for self-sufficiency in this vital area.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
MetaX Integrated Circuits Shanghais IPO soars, with shares skyrocketing by over 560% on debut, reflecting investor confidence in the companys AI-focused GPU technology and the growing demand for AI hardware in the Chinese market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.
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