US

News

Retailer Party City Files for Bankruptcy

Retailer Party City, which has been facing difficulties since the coronavirus pandemic, filed for Chapter 11 bankruptcy protection in the United States last weekend for the second time in two years.

Finance & Economics

Nordstrom to Go Private

Nordstrom, the luxury department store chain, announced on Monday, December 23, that it would become a private company after it agreed to a buyout deal valued at approximately $6.25 billion from Nordstrom’s founding family and Mexican department store El Puerto de Liverpool.

Science & Technology

Xerox to Buy Printer Maker Lexmark

Xerox will acquire Lexmark International, a Chinese-owned company specializing in printer-making and printing software development.

Science & Technology

Apple Approaches $4 Trillion Valuation

Apple is currently approaching its historical market capitalization indicator of $4 trillion.

News

Fed’s Beth Hammack Says Economic Strength Argues Against Rate Cut

Federal Reserve Bank of Cleveland President Beth Hammack said this week she voted against cutting interest rates by the United States financial regulator, as the strengthening of the US economy and inflation outlook do not indicate expediency of further easing of monetary policy.

Finance & Economics

Wells Fargo Leaves Climate-Banking Group

Wells Fargo & Co., one of the largest financial institutions in the United States, has announced that it is leaving the world’s largest banking climate alliance.

Science & Technology

US Finalizes $458 Million Award to SK Hynix

The United States Commerce Department on Thursday, December 19, finalized an award for South Korean semiconductor manufacturer SK Hynix in the form of government grants worth up to $458 million.

News

Micron Shares Fall

The value of Micron Technology shares fell by about 12% on premarket trading on Thursday, December 19, as this chip manufacturer published disappointing earnings guidance for the second quarter of fiscal 2025, indicating sluggish consumer demand for personal computers and smartphones, despite strong sales growth of microcircuits used for the operation of artificial intelligence systems.

Finance & Economics

Fed Cuts Interest Rates by Quarter Point

On Wednesday, December 18, Federal Reserve officials made the third decision in the current year to cut their benchmark interest rate, but at the same time decreased the scale of expectations for continued monetary easing next year.

Science & Technology

AWS to Invest $10B in AI Infrastructure in Ohio

AWS plans to strengthen its commitment to Ohio with a $10 billion investment supporting the surging demand for cloud computing and AI.

Science & Technology

AI Startup Basis Raises $34 Million

The startup Basis, which operates in the space of the artificial intelligence industry, on Tuesday, December 17, announced that it managed to raise investments for $34 million as part of the Series A funding round.

Finance & Economics

US Economy Faces Threat of Negative Scenario Amid Donald Trump’s Tariffs

Jamie Dimon, chief executive officer of JPMorgan Chase, the largest financial institution in the structure of the United States banking sector, has repeatedly made some kind of warning statements over the past year that the US economy faces a high level of risk that a negative stagflation scenario will be implemented in its space, repeating […]

Science & Technology

OpenAI Launches ChatGPT Search Features to All Users

On Monday, December 16th, OpenAI rolled out the search product for all users of its chatbot ChatGPT.

News

Visa Direct to Launch Instant Fund Transfers for U.S. Bank Accounts in 2025

Visa Direct is planning to introduce a feature that allows funds to be transferred and made available in U.S. bank accounts within one minute or less.

News

Intel Executives Say About Possibility of Manufacturing Spinoff

The two executives leading Intel this week acknowledged that the company may be forced to sell its manufacturing operations.

Finance & Economics

Flushing Financial Seeks to Raise $70 Million

The media published information according to which Flushing Financial, a New York-based commercial real estate lender, is currently seeking to raise $70 million.