- A + A WASHINGTON (Oct 6): President Joe Biden on Thursday will tout IBM Corp's plans to invest US$20 billion in New York over the next decade in development and manufacturing of semiconductors, mainframe technology, artificial intelligence and quantum computing. The announcement is the latest in a string of investments unveiled since Biden signed the Chips and Science bill in August that funded US$52 billion to subsidize semiconductor chips manufacturing and research. The administration says hefty subsidies for private businesses are necessary because China and the European Union had been awarding billions in incentives to chip companies. Biden has sought to capitalize on the investment announcements ahead of next month's midterm congressional elections. Last month, he traveled to Ohio to speak at the site of Intel Corp's planned US$20 billion semiconductor manufacturing facility. New York's Hudson Valley, home of IBM's Poughkeepsie site, was a manufacturing … [Read more...] about Biden visits New York IBM amid US$20 billion investment
Softbank 100 billion vision fund
Share to Twitter Share to Linkedin The plan to starve the beast might not go quite as expected. The latest parry in the skirmish over the IRS’s expanded funding in the Inflation Reduction Act (IRA, P.L. 117-169) would rescind the bulk of the appropriated amounts. But a better approach would be for Congress to be more precise about what exactly it wants the IRS to do with added funds every time it doles them out, however much the agency ultimately receives. And recently Congress has at least made some efforts at insisting on transparency, even if they are tardy. House Ways and Means Committee member Adrian Smith, R-Neb., and Rep. Michelle Steel, R-Calif., along with 48 cosponsors, recently introduced the very brief Family and Small Business Taxpayer Protection Act. The bill would renege on any unobligated balances appropriated in the IRA for the IRS in these categories: $45.6 billion for enforcement; $25.3 billion for operations support; $15 … [Read more...] about What Gets Removed If The Bill To Rescind Added IRS Funding Passes?
Microsoft CEO Satya Nadella just announced he is buying the "motherload" of software repositories, GitHub . The strike price is $7.5 billion in stock on a company used by 27 million developers. Open is now the new closed, Microsoft style "Our business strategy is to have an open platform and an open community," Nadella said in an interview quoted by The Wall Street Journal . Chris Wanstrath , the GitHub co-founder, echoed that sentiment in a blog post about the acquisition. "Git is far and away the most popular version control system, clouds are mostly computers, and Microsoft is the most active organization on GitHub in the world. Their VS Code project alone is beloved by millions of developers, entirely open source, and built using GitHub's Electron platform. Beyond that, today major enterprises regularly embrace open source," he wrote. 27 million fresh users for Microsoft's mega cloud This acquisition of the largest code repository site in the world--with … [Read more...] about 3 Big Takeaways From Microsoft’s $7.5 Billion Deal to Buy GitHub
- A + A BENGALURU (Oct 6): Twitter Inc's shares retreated further from Elon Musk's offer price on Thursday as investors fretted over financing for the proposed US$44-billion buyout of the social media firm against the backdrop of growing economic uncertainty. Apollo Global Management Inc and Sixth Street Partners, which had been looking to provide financing for the deal, are no longer in talks with the billionaire entrepreneur, two sources familiar with the matter told Reuters . Shares of the microblogging site were down marginally at US$51.12, after rising 20% since Musk this week proposed to go ahead with the April bid of US$54.20 per share to take Twitter private. "There's still some uncertainty based on whether or not Elon can find the actual financing to do the deal," said Randy Frederick, managing director of trading and derivatives for the Schwab Center. Major banks that committed to fund US$12.5 billion, or about 28% of the deal, could be facing hefty … [Read more...] about Twitter slips as investors await funding details on Musk’s US$44b deal
- A + A WASHINGTON (Oct 7): The International Monetary Fund should issue $650 billion in new emergency reserves to help its member countries grapple with overlapping health, food, energy and inflation crises, 140 civil society groups said in a letter to the IMF's board on Thursday. IMF officials in July said a fresh issuance of Special Drawing Rights (SDR) reserves was among the options for aiding countries struggling with spillovers from Russia's war in Ukraine, but there were no active discussions on the matter. The World Bank warned last month of the growing risk of a global recession as a result of the war, and said on Wednesday nearly 600 million people would still be living in extreme poverty - with income of just $2.15 a day - by 2030. The groups' plea for a second major SDR allocation in just over a year comes as global finance officials prepare to meet in Washington for the annual meetings of the IMF and World Bank. Similar calls have come from lawmakers … [Read more...] about IMF should issue new reserves to help countries tackle overlapping crises – groups
Share to Twitter Share to Linkedin Key Takeaways With the Inflation Reduction Act being passed in August, there are many opportunities for consumers to save money by going solar. Sunrun brought in total revenue of $584.6 million during the second quarter of 2022, with the addition of 34,403 new customers. Sunrun brings in substantial revenue from offering leasing plans to consumers who want to go solar without spending any money upfront. Sunrun Inc. (RUN) is the self-proclaimed #1 residential solar panel company. Sunrun focuses on providing residential solar, battery storage, and energy services nationwide. The company also offers home solar service plans to make clean energy accessible for people without spending any money upfront. Sunrun was established in 2007, and the company services its customers through direct-to-consumer sales, solar partnerships, and strategic partnerships. With only 4% of the 77 million addressable homes in the … [Read more...] about Sunrun Stock: Is This Solar Stock A Winner Or Going Dark?
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Adani Enterprises, the flagship entity of Adani Group and an incubator focusing on establishing diverse new businesses, is all set to be the newest entrant in the Nifty 50 index from September 30 replacing Shree Cements . This is the second Adani Group entity that will be a part of Nifty after Adani Ports & SEZ even as seven companies from the group feature among the 50 biggest companies in India. Even among Adani Group companies, Adani Enterprises is the less flashy sibling that does not draw as much attention. However, the returns it has delivered is no less than other siblings. Following its superb run in the last three years, when it delivered around 2,400 percent returns, Adani Enterprises is now the 11th biggest listed company in India with a market cap of Rs 4.1 lakh crore. In … [Read more...] about Adani Enterprises joins Adani Ports in Nifty50; expect ETF buying worth Rs 1,750 crore
Share to Twitter Share to Linkedin Founder & CEO at Ephesoft . Passionate tech innovator, speaker and obsessed with hyperautomation and providing IDP solutions to customers. With artificial intelligence (AI) surrounding and affecting most of us in many aspects of our daily lives, it raises a question: How will it change leadership for businesses around the world? Gartner, Inc. forecasts that the worldwide AI software market will reach $62 billion this year and that "the top five use case categories for AI software spending in 2022 will be knowledge management, virtual assistants, autonomous vehicles, digital workplace and crowdsourced data." PwC reports that by 2030, AI will potentially contribute $15.7 trillion to the global economy. The colossal potential for AI technology will sweep across the world and change the needs and requirements of businesses and employees. CEO The CEO is the captain of the metaphorical ship and is … [Read more...] about How Will AI Technology Change Leadership In The Future?
Share to Twitter Share to Linkedin A report issued last week revealed that, worldwide, migratory freshwater fish have declined by 76% since 1970. This result joins a growing and dispiriting list of dramatic declines for biodiversity and wildlife . However, it also highlights a continuing threat to food security for many regions of the world. Freshwater fish provide the primary source of protein for at least 200 million people globally—particularly in rural communities in Asia and Africa—and migratory fish are often a major component of freshwater fish harvests. For example, migratory fish represent approximately one-third of the harvest from the Mekong River basin, the world’s largest freshwater fishery at over 2 million tons annually, nearly 20% of global freshwater fish harvests. But what does this decline in migratory fish have to do with energy? Quite a lot, actually. Hydropower dams are one of the primary reasons for the decline of … [Read more...] about Solar Power Can Help Halt Dramatic Decline Of Migratory Fish
TOKYO – Japanese households increased spending in August compared with a year earlier as the economy continued to recover from COVID-19 restrictions, but rising prices are clouding the outlook for further gains. Separate data on Friday showed real wages falling for a fifth month, underscoring growing pressure on Japanese consumer spending, which accounts for more than half of the country’s gross domestic product (GDP). Household spending rose 5.1 percent in August from a year earlier, government data showed on Friday. The reading was lower than economists’ median estimate for a 6.7 percent gain and followed a 3.4-percent rise in July. While there are clear signs that activity is slowly picking up, gains last month may have been flattered by the comparison with August 2021, when the country was battling a resurgence of COVID cases. On a seasonally-adjusted, month-on-month basis, household spending slid 1.7 percent in August, bigger than a 1.4 percent decline in July. It was a … [Read more...] about Japan Aug household spending rises annually on reopening