Meta Seeks to Realize Metaverse Dreams With a New “World Fastest” Supercomputer
(Meta) Meta has come up with an “AI Research SuperCluster,” which the company says will be key in its pursuit of the metaverse. Meta claims that the RSC will be…
US Composite Output Hits an 18-Month Low in January as Omicron Hurt Activity
(IHS Markit) The US posted a Composite Output Index of 50.8, an eighteen-month low and down from 57.0 in December. Services Business Activity Index was at an eighteen-month low of…
China Turns to Strategic Tech Startups to Counter Silicon Valley Dominance
(Bloomberg) Beijing is turning into a new generation of disruptive startups in a new government program escalating tech war with the US to counter Silicon Valley. In a government program…
Nato Calls for More Forces as it Readies Troops Against Russia on Ukraine
(FT) Nato alliance secretary-general, Jens Stoltenberg, has called for more allies to contribute additional military forces, as troops remain on standby to counter potential attack on Ukraine by Moscow. Nato…
Kohl’s Soars on Premium $9B Takeover Bid Reports by Sycamore
(Reuters) Shares of Kohl’s Corp jumped 29% in premarket on Monday on reports that private equity firm Sycamore had submitted a $9 billion takeover offer. Sycamore is said to have…
Amigo Halves in Value as Investors Took Cover Over Difficulties in Rescue Plan
(Reuters) British subprime lender Amigo Holdings fell up to 58% on Monday after the company warned of insolvency following doubts of a business rescue plan of $131.18 million. The fall…
Eurozone Growth Falters to an 11-Month Low in January
(IHS Markit) Eurozone recorded a Composite Output Index of 52.4 in January, reflecting an eleven-month low as the service activity slowed due to Omicron impacts. Services activity took a hit,…
PBOC’s Liquidity Boost Continues as 14-Day Reverse Repo Is Cut by 10 Basis Points
(CNBC) The People’s Bank of China has reduced the 14-day reverse repo rate by 10 basis points to 2.25% in additional measures to inject liquidity into the banking system. Following…
Consumer Confidence Falls in the EU and Euro Area in January
(European Commission) Consumer confidence in the EU fell by 0.4 points in January from the previous month and was 0.1 points down in the euro area. Following the decline, the…
PBOC Lowers Rate Again, Overnight Lending Facility Reduced by 10 Basis Points
(Bloomberg) China’s central bank has reduced the rate on the shorter-term emergency policy loan or standing lending facility by 10 basis points to 2.9%. The central bank also cut the…
Peloton Stock Jumps as Preliminary Q2 2022 Revenue of $1.14B Meet Expectations
(Peloton) Peloton Interactive Inc. shares rose 5% on Friday after its preliminary second quarter of 2022 revenue hit $1.14 billion, within the guidance of $1.1 billion to $1.2 billion. The…
Intel Plans to Bolster Chip Production in $20 Billion Ohio Plant
(WSJ) Intel Corp. is reportedly seeking to invest more than $20 billion in Ohio’s new chip making facility. The plans come amid heightened demand for digital products and chip shortages…
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