JPMorgan Chase posted third-quarter results that topped estimates for profit and revenue as the company generated more interest income than expected. Here’s what the company reported: Earnings: $4.37 a share vs. $4.01 a share LSEG estimate Revenue: $43.32 billion, vs. $41.63 billion estimate JPMorgan said profit fell 2% from a year earlier to $12.9 billion, while revenue climbed 6%…
AMD launched a new artificial intelligence chip on Thursday that is taking direct aim at Nvidia’s data center graphics processors, known as GPUs. The Instinct MI325X, as the chip is called, will start production before the end of 2024, Advanced Micro Devices said Thursday during an event announcing the new product. If AMD’s AI chips are seen by developers…
Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner Tom Brenner | Reuters Falling interest rates are usually good news for banks, especially when the cuts aren’t a harbinger of recession. That’s because lower rates will…
A TD bank stands in Brooklyn on June 04, 2024 in New York City. Spencer Platt | Getty Images TD Bank pleaded guilty Thursday to multiple criminal charges and agreed to pay a whopping $3 billion in fines and other penalties to the Department of Justice and financial regulators for failing to monitor money laundering by drug traffickers and…
The pace of price increases over the past year was higher than forecast in September while jobless claims posted an unexpected jump following Hurricane Helene and the Boeing strike, the Labor Department reported Thursday. The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased a seasonally adjusted 0.2% for the…
Delta Air Lines expects to grow earnings in the fourth quarter, thanks to resilient travel demand and strong bookings for year-end holidays. The Atlanta-based carrier on Thursday forecast fourth-quarter adjusted earnings of $1.60 to $1.85 per share, compared with Wall Street estimates of $1.71, according to LSEG, and above the adjusted $1.28 per share it reported a year earlier….
Ratan Tata speaks during an interview. Pradeep Gaur | Mint | Getty Images Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India’s Tata Sons, who passed away on Wednesday, aged 86. India’s Prime Minister Narendra Modi in a post on X called Tata “a visionary business leader, a…
An independent contractor wearing a protective mask and gloves loads Amazon Prime grocery bags into a car outside a Whole Foods Market in Berkeley, California, on October 7, 2020. David Paul Morris/Bloomberg via Getty Images Amazon said Wednesday it’s testing adding mini warehouses to Whole Foods supermarkets as part of a bid to attract more shoppers to its stores…
The Department of Justice late Tuesday made recommendations for Google’s search engine business practices, indicating that it was considering a possible breakup of the tech giant as an antitrust remedy. The remedies necessary to “prevent and restrain monopoly maintenance could include contract requirements and prohibitions; non-discrimination product requirements; data and interoperability requirements; and structural requirements,” the department said in…
SpaceX’s next-generation Starship spacecraft, atop its powerful Super Heavy rocket, lifts off on its third launch from the company’s Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. March 14, 2024. Cheney Orr | Reuters The Federal Aviation Administration may issue SpaceX its next Starship license in time for a Sunday launch attempt, CNBC has learned….