Wall Street’s Early Read Places Debt-Cap Deadline in Mid-2025
Wall Street is already trying to handicap how long the US government has until it exhausts its borrowing authority once the debt ceiling returns in early 2025, with early forecasts focused mainly on July or August. Of course, the immediate concern centers on Congress’s need to skirt a potential government shutdown at the end of this month. […]
London Mayor Plans to Pedestrianize Busy Oxford Street
A past effort failed, but Sadiq Khan says he has the backing of the new Labour government. The Mayor of London has proposed closing Oxford Street off to traffic in a bid to boost the capital’s prime shopping destination, despite a previous failed attempt and likely opposition. The new Labour government has backed Sadiq Khan’s […]
Fed Ready to Unshackle US Economy With Soft Landing at Stake
The central bank’s first interest-rate cut is widely expected on Wednesday, but investors are more focused on what will happen immediately after the announcement. The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the […]
Race Capital Raises New $181 Million Fund Despite SVB Chaos
Alfred Chuang, general partner at Race Capital, should’ve been elated when the last bit of capital came in for his venture firm’s new $181 million fund. But there was just one problem—the limited partners had sent their wire transfers to Silicon Valley Bank right as it started to implode. Race, which specializes in early stage crypto and tech investments, […]
UBS to Buy Credit Suisse in $3.3 Billion Deal to End Crisis
UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets. The Swiss bank is paying 3 billion francs ($3.2 billion) for its rival in an all-share deal that includes extensive government guarantees and liquidity provisions. The price […]
Bill Gates Sees GPT’s AI as Revolutionary Tech Breakthrough
Microsoft Corp. co-founder Bill Gates said OpenAI’s language generation artificial intelligence tools are one of two revolutionary technologies he’s come across in his lifetime. The 67-year-old billionaire and philanthropist sees the promise of the new technology as the “most important advance in technology since the graphical user interface,” which allowed people to more easily interact with computers by […]
