Microsoft kept its capex forecast unchanged on Wednesday, becoming one of the first data center giants to hold the line on the industry’s runaway AI spending spree. The stock surged about 8% on the news. Earlier this year, the company said it planned to spend $190 billion on capital expenditures this calendar year. On Wednesday’s […]
Heading into today’s Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there’s a catch. Rates exist on a spectrum defined by “duration.” Specifically, there are different rates for different lengths of […]
The Fed’s widely expected decision to leave the benchmark interest rate in the 3.50%-3.75% range drew dissents from three of the 12 members of the policy-setting Federal Open Market Committee who “preferred” a quarter-percentage-point hike at this meeting. The benchmark S&P 500 hit its lowest level in a month, while the tech-heavy Nasdaq was down […]
An artificial intelligence (AI)-powered homeownership platform co-founded by Martha Stewart launched in the United States Wednesday (July 29). Hint, whose co-founders also include Yih-Han Ma and Kyle Rush, is now available on Apple’s App Store, the company said in a Wednesday (July 29) press release. The home intelligence platform builds a profile of the user’s house based on public records, environmental and utility […]
“There was a range of views among Governing Council members about the sustainability of the rebound beyond the near term,” the Bank stated, adding that “members agreed they would need to monitor the data closely for signs that growth was broadening as projected in the July Report.” Inflation risks linger as oil stays volatile Oil […]
Canada would need to roughly double investment in new residential construction over the next decade, potentially intensifying competition for capital and keeping borrowing costs higher.
Recording devices in use during home showings is a common occurrence in today’s home-selling environment, and according to new research from LendingTree, it may be adding more stress to the buying process. LendingTree said it surveyed 2,000 U.S. consumers. According to the survey, a significant 56% of recent home sellers said recording devices were active […]
Jammu and Kashmir Bank reported a 12.6% drop in first quarter net profit at Rs 424 crore against Rs 485 crore in the year-ago period, on account of higher provisions, prompting a near 13% plunge in share price. The fall in net profit was despite a Rs 56 crore gain due to change in accounting […]
Featuring Jake Bannister, senior regional sales manager for Western Canada at Glasslake Funding, the session addresses credit, income, and debt-servicing complexities that sit between traditional prime underwriting and the alt-B market. Communication strategies that close deals Denise Laframboise, mortgage broker and principal of Laframboise Mortgage in Canada, leads a Day 1 Insights Stage session on […]
Lilian Weng, a cofounder of the AI startup Thinking Machines Lab who stepped down this week, is rejoining OpenAI. The researcher will lead a team focused on accelerating internal research at the ChatGPT maker, as part of OpenAI’s bid to develop AI that can improve itself, a company spokesperson told Business Insider. Weng had shared […]