Microsoft CFO says OpenAI investment will cut into profit this quarter

Microsoft has invested over $13 billion in OpenAI, a bet that's weighing on the company's profitability.

Business - CNBC - 5 hours ago

Volkswagen CFO says 64% drop in profits shows ‘urgent need’ for cost cuts

The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expenses

Business - MarketWatch - 21 hours ago

Google's new CFO makes earnings call debut, says company can 'push a little further' on cost cuts

In her first earnings call as Alphabet CFO, Anat Ashkenazi said more streamlining will be needed so the company can invest in AI.

Business - CNBC - Yesterday

What’s at Stake in a Strained Microsoft-OpenAI Partnership

The alliance between the technology giant and the company behind OpenAI has been hugely consequential — but a disruption could shake up the A.I. race.

Business - The New York Times - October 18

Microsoft and OpenAI’s Close Partnership Shows Signs of Fraying

The “best bromance in tech” has had a reality check as OpenAI has tried to change its deal with Microsoft and the software maker has tried to hedge its bet on the start-up.

Tech - The New York Times - October 21

Deutsche Bank shares shed 3% as lender's swing back to profit fails to impress

The partial release of 440 million euros of litigation provisions in the third quarter helped boost profit, Deutsche Bank said.

Business - CNBC - October 23

Amazon, Google and Microsoft Are Investing in Nuclear Power

Large technology companies are investing billions of dollars in nuclear energy as an emissions-free source of electricity for artificial intelligence and other businesses.

Business - The New York Times - October 16

Iberdrola Profit Lifted by Record Investments

Spain’s energy giant Iberdrola posted a 50% rise in net profit for the first nine months of the year helped by record-high investments in its U.S. and U.K. networks.

Business - The Wall Street Journal - October 23

StanChart to double investment in wealth management as profits rise

Wealth business had record quarter as revenues rose 32%

Business - Financial Times - 20 hours ago

Amazon-backed Anthropic debuts AI agents that can do complex tasks, racing against OpenAI, Microsoft and Google

Anthropic, the Amazon-backed AI startup founded by former OpenAI research executives, announced AI agents that can use a computer to complete complex tasks.

Business - CNBC - October 22

Microsoft's GitHub expands beyond OpenAI, lets developers use AI models from Anthropic, Google

GitHub is giving software developers more choices for its popular coding assistant, meaning they won't be limited to models from OpenAI.

Business - CNBC - Yesterday

Goldman Sachs beats on profit and revenue as stock trading and investment banking boost results

Wall Street trading and investment banking has helped the big banks this quarter, and Goldman Sachs results showed why they are a leader in those areas.

Business - CNBC - October 15

Charles Schwab is profiting from customers who want professional help with investing

The brokerage said it is seeing increased inflows into its wealth-management offerings.

Business - MarketWatch - October 15

Deutsche Bank's Investment Bank Performance, Provision Releases Lift Profit

Deutsche Bank reported a better-than-expected rise in its third-quarter profit on growth in its investment-banking division and the partial release of provisions linked to litigation over its ...

Business - The Wall Street Journal - October 23

Foreign Election Interference May Escalate, Microsoft Says

Efforts by Russia, Iran and China to sway U.S. voters could intensify, according to a new report from the tech giant.

Business - Inc. - 6 days ago

Former OpenAI Researcher Says Company Broke Copyright Law

Suchir Balaji helped gather and organize the enormous amounts of internet data used to train the startup’s ChatGPT chatbot.

Tech - The New York Times - October 23

Reeves cuts National Wealth Fund budget despite UK investment drive

Chancellor’s decision comes as government seeks to work with private sector to decarbonise economy

Business - Financial Times - October 14

Saudi Arabia’s wealth fund pivots from international investments

Public Investment Fund will focus more of its financial firepower on domestic projects

Business - Financial Times - Yesterday

Tesla Surprises Wall Street With Strong Third-Quarter Results

The robust performance comes after a tumultuous start to the year in which Tesla’s profit fell for two straight quarters.

Business - The Wall Street Journal - October 24

NatWest profits rise by a quarter as lending and deposits grow

Bank also sets aside £245mn in provisions for bad loans, higher than expectations of £173mn

Business - Financial Times - 5 days ago

Clariant Third-Quarter Profits Miss Expectations

The chemicals company reported weaker results for the three months through September and cautioned that it didn’t expect a significant economic recovery in 2024 due to persistent economic challenges.

Business - The Wall Street Journal - 2 days ago

Eni Cuts Profit Outlook on Weak Prices, Lifts Buybacks

Eni lowered its guidance for the year due to a decline in oil prices which also hit the Italian energy major’s third-quarter profits, but said it planned to increase its share buy backs.

Business - The Wall Street Journal - 6 days ago

DoorDash keeps investing in expansion, as more consumers use platform in third quarter

DoorDash Inc. on Wednesday reported third-quarter results and a fourth-quarter demand outlook that topped expectations, as the company continues to invest in expansion and improving service.

Business - MarketWatch - 6 hours ago

Microsoft and these other stocks are the way to play AI now, says Goldman Sachs

So-called “platform” stocks, such as Microsoft and Snowflake are the most attractive part of the AI sector according to Goldman Sachs.

Business - MarketWatch - October 14

Cyber criminals increasingly helping Russia and China target the US, Microsoft says

Russia, China and Iran are expanding their partnerships with cyber criminals to conduct cyberespionage and cyberattacks against the U.S. and other nations, according to a new report from Microsoft

Tech - ABC News - October 15

Russia, Iran and China are trying to interfere with the U.S. election, Microsoft says

Microsoft issued a seven-page report on how Russia, Iran and China are trying to interfere with the 2024 U.S. elections. The company's threat analysis center is warning deepfake videos and other ...

Microsoft says Russia trying to smear Harris with deepfake video, AI

Russia is attempting to “undermine” Vice President Harris’s campaign using artificial intelligence (AI) generated videos while China has begun targeting a series of GOP congressional candidates ...

Politics - The Hill - October 23

Bots Linked to China Target Republican House and Senate Candidates, Microsoft Says

Chinese influence operations have focused less on this year’s presidential race and more on down-ballot races.

Tech - The New York Times - October 23

Chinese influence operation targets U.S. down-ballot races, Microsoft says

Affected lawmakers — all Republicans — include Rep. Barry Moore of Alabama, Rep. Michael McCaul of Texas and Sen. Marsha Blackburn of Tennessee.

Microsoft says Google is running 'shadow campaigns' in Europe to influence regulators

Microsoft suggested Google has a pattern of funding organizations with the mission of discrediting the software company with regulators.

Business - CNBC - 2 days ago

Wall Street banks enjoy bumper fees as debt issuance and deals activity rebound

Morgan Stanley rounds off strong earnings season

Business - Financial Times - October 16

Deutsche Bank warns of rising bad loan provisions

German lender posts record third-quarter profits but tells investors to brace again for credit risks

Business - Financial Times - October 23

Tesla’s Shares Surge 20% After Strong Earnings and Outlook

The company said profits climbed 17 percent in the third quarter. It expects car sales to rise up to 30 percent next year when it plans to begin selling new models.

Business - The New York Times - 6 days ago

Barclays shares hit nine-year high after third quarter profit jumps 23%, beating expectations

British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations.

Business - CNBC - 6 days ago

Hyundai Motor Net Profit Fell in Third Quarter, Missing Estimates

The South Korean carmaker said wholesale car sales fell 3.2% globally as vehicle demand remained sluggish in most major markets, while North America remained a bright spot.

Business - The Wall Street Journal - October 24

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