JPMorgan Chase, Bank of America, and Citigroup are preparing to launch a shared tokenized deposit network that is expected to go live in 2027, marking one of the most significant coordinated moves by major US banks into blockchain-based settlement infrastructure. According to a WSJ report, the project is being developed alongside other large financial institutions,
OpenAI has confirmed that it will comply with an executive order signed by US President Donald Trump that calls on artificial intelligence companies to allow the federal government to assess the capabilities of their AI models before they are released. Speaking to CNBC’s Arjun Kharpal, George Osborne, OpenAI’s head of countries, said the company would
The US labor market delivered another upside surprise in May, with employers adding far more jobs than economists had expected. The stronger-than-anticipated hiring came despite rising energy costs, persistent inflation concerns, and uncertainty surrounding the ongoing conflict in Iran. The Bureau of Labor Statistics reported on Friday that nonfarm payrolls increased by a seasonally adjusted
The UK’s FTSE 100 rose on Friday, outperforming several global markets amid a broader risk-off sentiment, as investors found reassurance in fresh data indicating that inflationary pressures linked to the Middle East conflict may be less severe than previously feared. The blue-chip FTSE 100 index gained 0.45% by 12:48 pm GMT, while the mid-cap FTSE
US stocks moved lower on Friday as a stronger-than-expected May jobs report dampened expectations for interest rate cuts and triggered renewed selling across semiconductor stocks. The Dow Jones Industrial Average was up 20 points while the S&P 500 fell about 0.6%, and the Nasdaq Composite dropped 1.07%. The market reaction followed fresh labor market data
Lululemon Athletica LULU shares fell sharply on Friday after the athletic apparel retailer lowered its annual profit outlook and issued weaker-than-expected sales guidance, deepening investor concerns about the pace of its turnaround efforts. The stock dropped nearly 9% in early trading after the company projected flat to slightly lower revenue for the full year. The
Shares of ServiceTitan TTAN climbed sharply on Friday after the software company delivered stronger-than-expected quarterly results and raised its full-year outlook. The results drew a fresh round of bullish commentary from Wall Street analysts. The stock rose more than 7% in trading. The rally marked a sharp reversal for the shares, which had fallen about
The number of Americans filing new applications for unemployment benefits increased last week, but the overall level of claims remained consistent with a labour market that continues to show resilience despite signs of slowing economic momentum. Data released by the Labor Department on Thursday showed initial jobless claims rose to 225,000 in the week ended
The price of Helium’s native token, HNT, experienced a sharp short-term rally before quickly retreating, as the market reacted to the acquisition of Helium Mobile by Noble Mobile. The token briefly climbed to an intraday high of $0.7874 before pulling back toward the mid-$0.65 range. Helium Mobile acquired by Noble Mobile Helium’s ecosystem received a
Top space stocks are in a freefall this week, with Virgin Galactic (NYSE: SPCE) falling to $4.25, its lowest level since May 28. It has slumped by over 53% from its highest point last week. Intuitive Machines (LUNR) stock has dropped by 30% from its highest point last week, while Rocket Lab (RKLB) has fallen