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Japans SoftBank Acquires British AI Chipmaker Graphcore

LONDON, July 12 Reuters Japan39;s SoftBank Group has bought artificial intelligence chipmaker Graphcore for an undisclosed sum, ending longrunning speculation over the company39;s future. Once touted as a rival to Nvidia, which has seen its own valuation skyrocket thanks to soaring demand for AI computer chips, Britain39;s Graphcore has struggled to secure the investment needed to compete. Valued at 2.77 […]
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Oil Rises as US Inflation Eases; Brent Heads for Weekly Dip

SINGAPORE, July 12 Reuters Oil prices inched up on Friday amid signs of easing inflationary pressures in the United States, the world39;s biggest oil consumer, although Brent crude was set for a weekly decline. Brent crude futures rose 49 cents, or 0.6, to 85.89 a barrel by 0630 GMT. U.S. West Texas Intermediate crude futures […]
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China Cbank Seen Holding MediumTerm Lending Rate Steady Monday

SHANGHAISINGAPORE, July 12 Reuters China39;s central bank is widely expected to leave a mediumterm interest rate unchanged and drain some cash from the banking system when rolling over such maturing loans on Monday, a Reuters survey showed. While the economy continues to sputter, a weak Chinese currency has remained the key constraint limiting Beijing39;s monetary […]
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Irish Domestic Economy Grew much Faster than Estimated in 2023

DUBLIN, July 12 Reuters Ireland39;s domestic economy last year grew much faster than initially estimated, with growth revised sharply higher to 2.6 from 0.5 and momentum continuing into the first quarter of this year, official data showed on Friday. With Ireland39;s large multinational sector often distorting gross domestic product GDP, the government and statisticians prefer […]
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June Price Drop may Shorten the Feds Last Mile on Inflation

CHICAGO, Reuters The last mile of the Federal Reserve39;s battle against inflation may have shortened to a last lap after U.S. consumer prices unexpectedly fell in June, shoring up policymakers39; confidence that they are winning the fight and paving the way to interestrate cuts in coming months. The consumer price index slid 0.1 last month after being unchanged […]
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Shunned UK Markets Emerge as Haven from Global Storms

Stable UK eyed as haven vs heightened uncertainty elsewhere UK listings and inflows revival likely bankers But haven status needs solid longterm growth investors LONDON, July 12 Reuters Investors are looking at UK markets as a potential haven as political uncertainty rises in the U.S. and elsewhere in Europe, in what could mark a stunning […]
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