Business

POLAND - 2024/11/13: In this photo illustration, the NVIDIA company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)Sopa Images | Lightrocket | Getty ImagesNvidia shares dropped in U.S. premarket trading Thursday after the tech giant's third-quarter earnings failed to impress investors.Shares of the chipmaker slumped 3.21% at around 5:03 a.m. ET, following the Wednesday release of Nvidia's quarterly results, which beat on both the top and bottom lines.Revenue came in at $35.08 billion, up 94% year-on-year and exceeding the $33.16 billion forecast by LSEG analysts. Earnings per share was 81 cents adjusted, also above analyst expectations.Other chipmakers fell on the back of the market reaction to Nvidia's third-quarte...

Former US President Donald Trump during an Economic Club of New York event in New York, US, on Thursday, Sept. 5, 2024.Bloomberg | Bloomberg | Getty ImagesFears are mounting that the U.S. could soon experience its own version of Britain's "mini-budget" crisis, with bond strategists warning that Donald Trump's return to the White House brings with it the specter of currency volatility and surging bond yields.President-elect Trump has pledged to deliver a litany of pro-growth initiatives, including tax cuts, steep tariffs, and plans to roll back corporate regulation.The former president's economic agenda has ratcheted up concerns about a surge in consumer prices, which strategists say could spark significant shifts in bond yields and investor behavior. They warn a scenario that mirrors Brita...

Gautam Adani, chairman of Adani Group, speaks during the Forbes CEO Summit in Singapore, on Tuesday, Sept. 27, 2022. India needs fossil fuels to serve large populations and getting rid of all fossil fuels instantly would not work for the nation, Adani said. Photographer: Edwin Koo/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesIndia's Adani Group on Thursday denied allegations of bribery and fraud made by U.S. authorities in relation to the group's chair Gautam Adani, saying all claims were "baseless."Shares of companies in India's Adani Group plunged after Gautam Adani, one of the world's richest people, was indicted in a New York federal court on charges regarding an alleged bribery and fraud scheme. Shares in Adani Green Energy, the firm at the center of the allegations, ...

Ofcom said it received evidence showing Microsoft makes it less attractive for customers to run its Office productivity apps on cloud infrastructure other than Microsoft Azure.Igor Golovniov | Sopa Images | Lightrocket via Getty ImagesLONDON — Britain's competition regulator is preparing remedies aimed at solving competition issues in the multibillion-pound cloud computing industry.The Competition and Markets Authority is set to unveil its provisional decision detailing "behavioral" remedies addressing anti-competitive practices in the sector following a months-long investigation into the market, two sources familiar with the matter told CNBC.The sources, who preferred to remain anonymous given the investigation's sensitive nature, said that the cloud market remedies could be announced wit...

Nvidia reported third-quarter earnings that beat expectations for sales and earnings while delivering a better-than-expected forecast for the current quarter. The results show that Nvidia is continuing to grow quickly while demand for its powerful artificial intelligence chips remains high.Shares fell 2% in extended trading.Here's how the company did, compared to LSEG analysts' expectations:Earnings per share: 81 cents adjusted vs. 75 cents expectedRevenue: $35.08 billion vs. $33.16 billion expectedNvidia said it expects about $37.5 billion plus or minus 2% in current-quarter sales, versus $37.08 billion expected by analysts polled by LSEG.The fourth-quarter forecast implies year-to-year growth of about 70% from a year earlier, a slowdown from 265% annual growth in the same period a year p...

Benefits enrollment season is here, and with it comes an opportunity for workers to tune up their workplace savings plans and sock away more money on a tax-favored basis. Traditional tax-deferred accounts, like 401(k) plans and individual retirement accounts, are just the beginning for savers. With the proliferation of high-deductible health care plans as employers aim to reduce their costs, more employees are gaining access to health savings accounts – which allow savers to contribute on a pretax or tax-deductible basis, grow on a tax-free basis and permit tax-free withdrawals if they're for qualified health expenses. In 2023, there were $123 billion in HSA assets held in more than 37 million accounts, reflecting a 19% increase in assets from the prior year, according to Devenir Group . A...

The runup in the 10-year Treasury yield is proving to be more than a short-term fluctuation, and that is starting to draw nervous looks on Wall Street. The benchmark yield was trading at about 4.41% on Wednesday. That is up from around 4.3% right before the presidential election, and well above the 3.6% level that it flirted with in September. Bond yields move opposite of price. US10Y 3M mountain The 10-year Treasury yield started to climb ahead of the election and has moved higher still after Donald Trump's victory. With the 10-year yield close to a key psychological level of 4.5%, there is concern that another move higher could lead to a downturn in the stock market. Notably, the yield moved solidly higher on Wednesday as the major equity averages struggled to gain ground, with the S &am...

After a quarter where Nvidia's sales nearly doubled, investors and analysts are wondering how long the chipmaker can keep this kind of growth going now that it has a $140 billion annual revenue run rate.Those hopes fall on Blackwell, which is Nvidia's name for a family of server products based around its next-generation AI chip.CEO Jensen Huang and CFO Colette Kress gave investors several new data points on how Blackwell's launch is shaping up on a call with analysts on Wednesday. The duo emphasized that the rollout is on track, and they signaled that Blackwell sales over the next few quarters will be limited by how many chips and systems Nvidia can make, not how much it can sell."Blackwell production is in full steam," Huang said. "We will deliver this quarter more Blackwells than we had ...

2026 Hyundai Ioniq 9 EV.HyundaioHyundai Motor's newest all-electric vehicle is the 2026 Ioniq 9 SUV — a three-row, up to seven-passenger SUV for the U.S. market.The new vehicle is Hyundai's largest EV entry to date, joining the smaller Ioniq 5 and Ioniq 6 all-electric vehicles in the carmaker's growing fleet.The Ioniq 9 is expected to arrive in U.S. dealerships in the spring. Hyundai said the vehicle will be capable of fast charging from 10% to 80% in 24 minutes, will have an estimated range of 335 miles on a single charge and will be able to achieve 0 to 60 miles per hour in as fast as 4.9 seconds.Hyundai declined to disclose pricing for the new SUV until closer to its arrival in showrooms. The Kia EV9, from Hyundai's sister brand and which is based on the same vehicle platform, currently...

Target's stock tumbled to a 52-week low on Wednesday, a day after Walmart shares soared to an all-time high — as the rival retailers' earnings reports again underscored how their performance has diverged.Target posted its biggest earnings miss in two years and cut its forecast. The company spoke about a "deceleration in discretionary demand" and blamed higher costs caused by the rush to move inventory ahead of the short-lived port strike in October.On the company's earnings call, CEO Brian Cornell described U.S. consumers who are "shopping carefully as they work to overcome the cumulative impact of multiple years of price inflation" and holding out for the best possible deal.Walmart, on the other hand, hiked its full-year forecast. It said it's gaining upper-income shoppers and seeing bett...