General News

Wells Fargo advised investors to move away from the reflation trade, which has been a common strategy following GDP growth and Federal Reserve policy adjustments.

 The firm also suggests a strategic blend of Communications and Healthcare sectors, coupled with Utilities, to stay engaged in the market while maintaining some protection. 

According to Wells Fargo, the period of significant upward revisions to GDP growth forecasts is likely over, as 2024 projections have... (continue reading...)

(Please note language in paragraph 6 that readers may find offensive)

By Suzanne McGee and Saqib Iqbal Ahmed

(Reuters) - A report on Monday that online broker E*Trade may consider banning Keith Gill, the meme-stock influencer who ignited frenzied trading in shares of GameStop in 2021, has triggered a backlash on social media sites.

The Wall Street Journal on Monday reported that E*Trade is considering banning Gill, who... (continue reading...)

(Reuters) -Buyout firm Apollo Global Management will acquire a 49% equity interest in Intel's manufacturing facility in Ireland for $11 billion, the companies said on Tuesday.

Apollo will acquire the stake in the Fab 34 facility in Leixlip, Ireland, the U.S. chipmaker's first high-volume location for its Intel 4 manufacturing process using extreme ultraviolet lithography machines.

The deal, expected to close in the second quarter, would allow... (continue reading...)

(Reuters) -Tesla will likely spend between $3 billion and $4 billion on its purchases of chip company Nvidia's hardware this year, CEO Elon Musk said in a post on X on Tuesday.

Musk also said that out of the $10 billion in artificial intelligence-related capital expenditure this year, around half would be internal spend.

"For building the AI training superclusters, NVidia (sic) hardware is about 2/3 of the cost," he said on X.

By Rajesh Kumar Singh

CHICAGO (Reuters) - United Airlines will hire fewer-than-expected employees this year due to delays in aircraft deliveries from Boeing, a company executive said on Tuesday.

Kate Gebo, head of United's human resources and labor relations, told reporters the airline currently expects to hire close to 10,000 new employees in 2024 compared with 13,000 to 15,000 employees planned earlier.

Since January, the... (continue reading...)