‘Dangerous point for investors’: Strategist warns of overconfidence about A.I.
Market participants are “overconfident” about their ability to predict the long-term effects of AI on company performance, according to Morningstar’s Mike Coop.
IEA flags risk of higher oil prices, cuts 2024 demand view
The International Energy Agency on Friday said OPEC+ supply cuts could erode inventories in the rest of this year.
U.S. sanctions 4 of Russia’s financial elite; Russian strike on hotel kills 1
The U.N. humanitarian coordinator for Ukraine said she was “appalled” by the attack, adding the hotel was frequently used by U.N. personnel and NGO workers.
With eyes on Taiwan, new China ban shows the U.S. may be learning lessons from mistakes with Russia
U.S. moves to ban certain investment in China suggest that Western allies may be learning from national security failings in Russia, according to analysts.
Chinese tech giant Huawei reports tepid consumer revenue growth for the first half of 2023
Huawei on Friday reported 2.2% year-on-year growth in its consumer business revenue for the first half of the year.
Country Garden shares hit record low after profit warning as debt fears loom
The stock reached an intra-day level of 90 Hong Kong cents after the company warned it is expecting a loss of between $6.24 billion to $7.63 billion for the six months ended June.
CNBC Daily Open: Is China a no-go for U.S. investment?
President Biden’s executive order regulating U.S. technology investment in China is the first time Washington is imposing restrictions on U.S. capital outflows.
UBS ends Credit Suisse’s government and central bank protections
UBS’ takeover of Credit Suisse was brokered in March, amid talks with the Swiss government, the Swiss National Bank and regulator FINMA.
UK economy posts surprise second-quarter growth as households kept spending
The U.K. economy recorded surprise growth in the second quarter as household consumption rose.
Acquisition of Adani Capital opens access to India’s ‘underbanked’ market, Bain says
In July, the Boston-based firm agreed to acquire 90% of Adani Capital and Adani Housing, buying out all of Indian billionaire Gautam Adani’s family’s stake in the company.
