James Mackintosh The Wall Street Journal September 15, 2023 The amount companies earn from cash in the bank is going up even as interest costs fixed during the pandemic stand still. The Federal Reserve jacked up interest rates to slow the red-hot economy. At some of the biggest and most secure companies, the moves had the opposite
Brody Ford Bloomberg May 1, 2023 International Business Machines Corp. Chief Executive Officer Arvind Krishna said the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years. Hiring in back-office functions — such as human resources — will be suspended or slowed, Krishna said in an interview. These non-customer-facing
Hannah Levitt, Jenny Surane, and Sonali Basak Bloomberg May 1, 2023 Chairman Jim Herbert helped pioneer mega loans in the 1980s Buyer JPMorgan will share any mortgage losses with the FDIC The seeds of First Republic Bank’s downfall were sown in the jumbo mortgages of Silicon Valley, where a unique strategy to loan wealthy individuals extraordinary
Hugh Son Rohan Goswami Jonathan Vanian CNBC March 10, 2023 The company’s downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet. “This was a hysteria-induced bank run caused by VCs,” Ryan Falvey, a fintech investor of Restive Ventures, told CNBC.
Eric J Savitz Barron's October 14,2022 Safra Catz is feeling feisty, and for good reason. Over the past few years, the Oracle CEO has engineered an impressive turnaround at the enterprise software giant, which has bet the future of the company on cloud computing. As we outlined in a Barron’s cover story in February 2021, Oracle (ticker: ORCL)
Arjun Kharpal CNBC October 16,2022 Meta and Qualcomm are teaming up to develop custom chipsets for virtual reality products. The two U.S. technology giants have signed a multi-year agreement “to collaborate on a new era of spatial computing,” powered by Qualcomm’s Snapdragon extended reality (XR) platforms. Since its rebrand in 2021, the Facebook parent has
Andrew Kelly Reuters September 16, 2022 Apple would fare better than other technology companies in the event of a economic downswing, according to Morgan Stanley.Analyst Erik Woodring said the broader market will feel the impacts of a weakening economy and companies’ earnings per share will see double-digit slides for the rest of the year as
Anurag Rana and Andrew Girard Bloomberg Intelligence October 14, 2022 (Bloomberg Intelligence) -- Microsoft could surpass fiscal 2024 consensus sales growth in constant currency by 300-500 bps on the back of a rebound in cloud spending after a year of slowdown. Though weak economic conditions will likely hurt the company's 2023 sales growth from a
Jordan Novet CNBC October 12, 2022 The European energy crisis is leading some organizations to quicken their pace of adopting cloud services, said Microsoft’s Scott Guthrie. One organization increasing its Microsoft Azure cloud use has seen energy costs jump over 65%. Despite an uncertain economy with looming fears of a recession, Microsoft’s top cloud executive
Weizhen Tan CNBC September 26, 2022 Analysts are once again starting to get bullish on Nvidia, after the semiconductor giant lost favor amid geopolitical tensions and a slowdown in the chip sector. Citi and JPMorgan both said last week that solid demand in PC gaming, as well as cloud adoption in data centers, were set