Nvidia, a chipmaker, experienced a nearly 5% decrease in its stock price as it took a breather from its recent winning streak. Despite hitting a new 52-week high earlier in the session, the company has gained 7% week to date and is on track for its ninth-straight winning week. Marvell Technology saw a significant decline
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UnitedHealth Group has announced that it anticipates restoring Change Healthcare’s systems by mid-March following a ransomware attack that disrupted vital operations in the U.S. healthcare system. The cyber threat actor breached part of Change Healthcare’s information technology network on February 21, prompting UnitedHealth to isolate and disconnect the impacted systems upon detection. This action temporarily
Boeing, a leading aerospace company, is making significant changes to how it compensates its employees in order to shift the focus towards safety and quality. This decision comes after the company faced production issues, particularly highlighted by the recent incident involving an Alaska Airlines door plug blowout. According to a report by the Wall Street
International Monetary Fund Managing Director Kristalina Georgieva is actively seeking a second term to continue leading the global lender. Sources familiar with her plans have indicated that she is likely to secure sufficient support among member countries. This news comes as her current term is set to end on September 30. French Finance Minister Bruno
As tensions rise in Ukraine, House Democrats Robert Garcia, D-Calif. and Jamie Raskin, D-Md., have sent a letter to SpaceX demanding transparency from the defense contractor. This request comes after reports surfaced of potentially illegal purchases and use of Starlink satellite internet equipment by Russia in occupied territories of Ukraine. The congressmen have also announced
Broadcom, a semiconductor company, saw its shares dip by 3% after posting a full-year revenue guidance that met analysts’ expectations. The company reported adjusted earnings of $10.99 per share for the fiscal first quarter, exceeding analysts’ expectations of $10.29 per share. Additionally, Broadcom’s revenue came in at $11.96 billion, higher than the forecasted $11.72 billion.
Sonali Pier, the daughter of Indian immigrants, graduated from Princeton University in 2003 and embarked on a career in finance on Wall Street. Starting as a credit trader at JPMorgan, Pier made a move to Pimco in California in 2013. She noted the lack of women in the finance field but has seen a shift
New York Community Bank (NYCB) recently announced a significant loss in deposits, with a 7% decrease in the month preceding a capital injection of over $1 billion from investors, including former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital. The bank reported a total of $77.2 billion in deposits as of March 5, down from $83
Financial institutions facing challenges have often turned to private equity players for much-needed support. The recent announcement of a $1 billion-plus injection from New York Community Bank highlights this trend. Led by ex-Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital, a group of private investors came to the aid of NYCB, boosting market confidence and stabilizing
Meta, previously known as Facebook, is making significant strides in the realm of artificial intelligence with the development of a revolutionary AI system to power its entire video recommendation engine. Tom Alison, the head of Meta, revealed that the company’s ambitious “technology roadmap that goes to 2026” includes the creation of an AI recommendation model