Saudi Arabia reportedly in talks with VC firms like Andreessen Horowitz to create mammoth $40 billion AI fund
Saudi Arabia’s PIF has been on a buying spree as it seeks to diversify the kingdom’s revenues away from oil.
European Central Bank’s Lagarde signals June cut but says future rate path uncertain
“By June we will have a new set of projections that will confirm whether the inflation path we foresaw in our March forecast remains valid,” the ECB chief said.
French competition watchdog hits Google with 250 million euro fine
Google has pledged not to contest the facts as part of settlement proceedings, the watchdog said.
China’s Tencent posts weak revenue growth, plans to double buybacks
China’s Tencent Holdings posted a 7% rise in fourth-quarter revenue on Wednesday, trailing analysts’ expectations.
Intel awarded up to $8.5 billion in CHIPS Act grants, with billions more in loans available
The White House said on Wednesday that Intel has been awarded up to $8.5 billion as part of the CHIPS Act.
Bitcoin turns higher after Fed meeting, reclaiming $65,000
Bitcoin reversed course on Wednesday as investors took a pause from the recent pullback and weighed the Federal Reserve’s latest policy decision.
Gucci owner Kering tanks 14% after Asia profit warning, dragging down Europe luxury brands
French luxury group Kering warned Tuesday that Gucci sales look set to fall 20% in the first quarter as declining Asia sales continue to weigh on the fashion brand.
CNBC Daily Open: Inflation fight gets harder in final stretch
The final leg of the inflation fight is proving to be difficult for the Fed.
Hong Kong’s national security law has analysts divided on its social and economic ramifications
Hong Kong passed the Safeguarding National Security Bill that seeks to “prevent, suppress and punish espionage activities” in a special session on Tuesday.
UK inflation falls more than expected, hits lowest in nearly two-and-a-half years
U.K. inflation came in lower than expected at 3.4% year-on-year in February, official figures showed Wednesday, down from 4% in January.
