Business

Nvidia’s AI unit poised for big growth in 2017
Business

Nvidia’s AI unit poised for big growth in 2017

by Jonathan Sperling

Nvidia Corp. has experienced a boom in earnings recently, boasting a record revenue climb in its latest quarter. The California-based technology company stated earlier this month that its revenue from the latest quarter increased by 55 percent, setting a record for a three-month period. Nvidia’s revenue rise can perhaps be attributed to the corporation’s recent…

Bitcoin exchanges halt withdrawal after China issues warning
Business

Bitcoin exchanges halt withdrawal after China issues warning

by Yelena Dzhanova

For years, bitcoin has attracted a huge market base in China, which churns out over 90 percent of trade within the global bitcoin market. Following the meeting, the price of bitcoin fell drastically, despite the fact that bitcoin profits had peaked last month. The price of bitcoin fell by more than $250 a few hours…

Business

Investors’ approval of Trump-Abe meeting relieves trade worries

by Paul Joh

In his latest visit to the United States, Prime Minister Shinzo Abe sought to strengthen Japan’s ties with the new U.S. administration and dispel any distrust in his government’s motives. Japan’s economy expanded at a modest pace in 2016 as a weaker yen continued to fuel the country’s export-driven recovery for the fourth straight quarter….

Takeover news boost Macy’s shares
Business

Takeover news boost Macy’s shares

by Amit Agrawal

Shares of Macy’s, the United States’ largest department store chain and one of the most iconic chains across the world, jumped as much as 12 percent amid speculation that Hudson’s Bay approached the retail chain for a takeover. Those close to the matter said the talks are in the preliminary stages. Hudson’s Bay, which has…

Business

US trade deficit widens to $504 billion

by Paul Joh

The U.S. trade deficit rose to a four-year high in 2016, due in part to a stronger dollar and weaker global economies. Despite the overall increase of 0.4 percent over the year to $502.3 billion, the trade deficit, as reported by the U.S. Census Bureau, actually decreased for the month of December by 3.2 percent…

Business

Bank of England keeps rates unchanged, raises growth outlook

by Yelena Dzhanova

The Bank of England’s Monetary Policy Committee concluded its February meeting by keeping interest rates unchanged and raising the country’s growth outlook. The Committee, which also decided to continue its bond-purchasing program, reiterated that the implications for monetary policy would not be automatic and will continue to tolerate higher inflation. The BoE’s decision came a…

Business

Executive order fulfills Trump’s promise to weaken Dodd-Frank

by Maria Markowicz

After spending the campaign trail promising to weaken or repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act, President Donald Trump signed two executive orders aimed at giving more financial freedom to Wall Street banks. The two executive orders were signed on Feb. 3, 2017. According to ABC, one of the two executive orders…

Disappointing 4Q US economic data show lackluster growth
Business

Disappointing 4Q US economic data show lackluster growth

by Yelena Dzhanova

In the fourth quarter of 2016, the U.S. gross domestic product rose 1.9 percent and consumer spending went up by 2.5 percent. In the previous quarter, however, the GDP rose by a substantial 3.5 percent, an impressive figure considering it was the most significant increase in two years. Overall, the fourth-quarter growth was slight and…

Business

Microsoft surprises markets with booming cloud business Azure

by Amit Agrawal

Microsoft surprised Wall Street positively after it announced results for the quarter that ended in December by blowing past the consensus estimates in almost all of its business divisions. The company posted pro-forma earnings per share of 83 cents on revenues of $26.07 billion. According to Thomson Reuters consensus estimates, analysts had projected pro-forma earnings…

Business

Pressure builds up in Athens to fix deal

by Paul Joh

Despite showing promising signs of a recovery in its economy, Greece was unable to finalize the terms for its third bailout program in a recent meeting with its creditors. Talks between the two sides fell apart after Europe’s most indebted country reported that only one-third of the prerequisites required for the bailout were implemented. In…

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