Pacific Perspectives
Amazon could invest up to $50 billion in OpenAI in coming weeks, source says
Amazon is in talks to invest up to $50 billion in OpenAI, CNBC confirmed on Thursday, in a significant vote of confidence from the e-commerce giant after it invested in one of the startup’s biggest rivals. Source:…
Tesla tops estimates for quarter, but wraps up first annual revenue drop on record
Tesla reported better-than-expected fourth-quarter results after the bell on Wednesday, but revenue for the year dropped 3%, the first time on record the company has recorded an annual decline. The stock rose 3% in extended trading.…
Surging Australian dollar set to keep rising as rate increases near
The Australian dollar has smashed through the US70¢ barrier for the first time in three years, as a “perfect storm” of a crumbling greenback and hot domestic inflation fuels bets of an interest rate rise…
Rate rise next week firms after surprise inflation jump
Treasurer Jim Chalmers has denied increased government spending has contributed to higher than expected inflation after a spike in the consumer price index greatly increased the prospects of a first interest rate rise in more…
Blue-chip takeovers and few IPOs put ASX on track to shrink this year
Three big takeovers could see the Australian sharemarket shrink for the first time in more than two decades and wane in relevance among global exchanges as private capital becomes more attractive to companies. A string…
S&P 500 briefly surpasses 7,000, then closes little changed as Fed keeps rates steady: Live updates
The S&P 500 reached a milestone level on Wednesday, hitting 7,000 for the first time, before pulling back as the Federal Reserve left interest rates unchanged and upped its economic growth assessment. The broad market index ended the day…
Stocks making the biggest moves midday: Amazon, Reddit, Pinterest, Sysco & more
Check out the companies making headlines in midday trading: Amazon — The e-commerce giant said it would sunset its Fresh and Go brick-and-mortar store, marking a pivot in its grocery strategy. Amazon shares rose more than 1%…
Trump shrugs off US dollar decline as $A surges 1pc
Donald Trump has shrugged off concerns about US dollar weakness, as the world’s reserve currency slid to its weakest level in nearly four years amid policy risks and a resurgent yen. “No, I think it’s…
Value stocks are back. Goldman Sachs has 13 picks as ASX rally runs
Commodity stocks, particularly gold miners, have led value stocks out of the wilderness in the past six months. But Goldman Sachs thinks the rally can broaden. Value stocks are having a moment. But this time,…
ASX to rise, $A surges to 2023 high, Ampol refiner margins soar
Australian shares are set to open higher, extending their rally from Tuesday. The S&P 500 reset its record high in morning trade in New York as tech stocks pressed higher before a raft of earnings…