Alphabet’s cloud unit revenue surged 63% to $20 billion, exceeding estimates and driven by strong enterprise spending on AI infrastructure. The company’s overall revenue also beat expectations, with its cloud backlog nearly doubling. This performance highlights Alphabet’s significant gains in the competitive AI market, bolstered by its Gemini models and a key partnership with Apple.Read More
Federal Reserve Chair Jerome Powell emphasized the critical need for the Fed to operate free from political influence to effectively serve the American people. He congratulated his likely successor, Kevin Warsh, on advancing through the Senate Banking Committee.Read More
Wall Street saw mixed trading as investors weighed rising crude prices, the Federal Reserve’s decision to hold interest rates steady amid a divided vote, and upcoming earnings from tech giants. Geopolitical tensions in the Middle East fueled oil price spikes, raising inflation concerns. Investors also anticipated earnings reports from Amazon, Alphabet, Meta, and Microsoft.Read More
The Federal Reserve held interest rates steady for the third time, citing global risks like rising energy prices and supply disruptions. Policymakers are balancing inflation concerns with the potential impact of aggressive hikes on economic growth. This pause offers near-term stability for Indian markets, though elevated crude oil prices remain a significant worry.Read More
Emcure Pharmaceuticals saw a significant block deal where BC Investments IV Limited sold 18 lakh shares for Rs 289 crore to Norges Bank. The pharma company, which manufactures APIs and formulations, has shown strong performance with a 67% return in the past 12 months and a 50% YoY growth in net profit.Read More
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