Amazonreported quarterly results above Wall Street’s expectations on Tuesday, as interest in artificial intelligence helped drive cloud-computing growth. Shares of the Seattle-based e-commerce and tech company climbed almost 3% in extended trade, even after its current-quarter revenue forecast came in below expectations. The stock closed down 3.3% in the regular session. Chief Financial Officer Brian
Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US money-laundering laws at the world’s largest cryptocurrency exchange. The sentence was imposed by US District Judge Richard Jones in Seattle, who rejected prosecutors’ request that the 47-year-old Zhao serve a three-year term, twice the maximum
Elon Musk’s abrupt decision to lay off employees who ran Tesla’s electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday. For now, General Motors, Ford and other automakers which struck deals last year to give customers access to the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Who will be the big beasts in what we assume will be the next Labour government? This question matters as the country tries to work out where power will lie in a Keir Starmer administration.
An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages. These loans offer lower interest rates than their fixed-rate counterparts but
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. America is in knots over the foolishness — or worse — of its campus protesters. But it is adults who are making the biggest dunces of themselves. The role of grown-ups facing student unrest is
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. New York City police stormed Columbia University’s campus on Tuesday night, arresting dozens of pro-Palestinian protesters in an attempt to quash unrest that has spread to campuses across the nation and inflamed US divisions over
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer’s Labour party is set to unveil a weakened package of workers’ rights in the coming weeks in its latest softening of radical policies ahead of the upcoming general election, the Financial Times
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. If at first you don’t succeed, try again. And again. And again. So far, the Norwegian government has been asked whether it would place some of its vast pot of national oil-derived wealth in to
Warren Buffett’s deputies are trailing both the legendary investor and the S&P 500 index, according to a Financial Times analysis that examined the performance of the two men set to take over Berkshire Hathaway’s $354bn stock portfolio. Berkshire will hold its annual meeting on Saturday without vice-chair Charlie Munger, whose death in November aged 99
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Conservative candidates are distancing themselves from Rishi Sunak and his party’s brand in the run-up to local elections in England and Wales this week, in a sign of concerns over the party’s tarnished national reputation.
At a Windsor retreat for senior HSBC employees in early December, chief executive Noel Quinn made it clear he had no intention to leave the bank, three people who attended told the Financial Times. Yet during the Christmas break just weeks later, Quinn had made a decision to retire after five years in the role.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. You know stocks are getting pricey when investors get jumpy about even the slightest change in earnings expectations. This can be seen in the sharp moves in AI-related stocks in recent weeks, especially the sector’s
Server maker Super Micro Computer lifted its fully year sales outlook, signalling growing demand for AI chips. The company, which works closely with Nvidia, now expects $14.7bn to to $15.1bn in sales for its fiscal year that will end in June, better than the $14.6bn analysts expect. Revenues rose 200 per cent from a year
An Amazon worker walks past his Amazon Prime delivery truck in Washington, DC, on February 19, 2022. Stefani Reynolds | Afp | Getty Images Check out the companies making headlines in extended trading. Amazon — Shares gained nearly 2% after the company beat on both top and bottom lines. Amazon posted earnings of 98 cents
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A man has been sent to Rwanda under a voluntary relocation scheme for failed asylum seekers set up by the UK government, in what officials are keen to present as a “proof of concept” for
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Demand for artificial intelligence lent momentum to sales growth in Amazon’s cloud computing division, the company said on Tuesday, in the latest sign of the fast-growing technology reshaping the fortunes of Big Tech. Amazon Web
Bondholders opposed to the proposed Puerto Rico Electric Power Authority plan of adjustment asked the bankruptcy judge to hear new evidence the authority will have a greater than anticipated ability to pay off its debt. The bondholders submitted their “urgent motion” to U.S. District Court Judge Laura Taylor Swain Monday evening. They are calling for
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. Jeremy Hunt has warned the Financial Conduct Authority against its plan to “name and shame” companies under investigation in an unusual broadside against the UK’s top financial regulator. “I hope the FCA re-look at