Adidas Shares Surpass Two-year High As ‘Terrace’ Sneaker Trend Boosts Brand Heat

By Linda Pasquini (Reuters) -Shares in Adidas rose more than 8% on Wednesday, hitting their highest level in over two years after the German sportswear giant on Tuesday reported quarterly results above expectations and hiked its 2024 guidance on strong demand for its sneakers. Growth is being driven by strong demand momentum in “terrace” retro […]

Startup Rivos raises $250 million to develop RISC-V AI chips

By Max A. Cherney (Reuters) – Chip startup Rivos said on Tuesday it raised $250 million in a funding round that will enable it to manufacture its first server chip geared for artificial intelligence. Nvidia’s combination of chips and CUDA software dominates the market for AI-related computing, and Nvidia gobbled up more than 80% market […]

Asset Manager Vaneck’s Defence ETF Attracts Investors Amid Global Conflicts

By Sudip Kar-Gupta LONDON (Reuters) – Fund manager VanEck’s defence-industry focused exchange traded fund (ETF) has reached more than $550 million in net assets in its first year, VanEck said on Monday, highlighting how current, global conflicts have driven investors to the defence sector. The New York-headquartered firm launched its VanEck Defense UCITS ETF at […]

JPMorgan profit beats estimates even as interest income misses predictions

By Nupur Anand and Niket Nishant (Reuters) -JPMorgan Chase’s profit beat estimates in the first quarter, but its shares fell 6% after forecasts for interest income fell short of analysts’ expectations on Friday. The largest U.S. lender slightly increased its estimate for net interest income (NII), or the difference between what a bank earns on […]

Factbox-Brokerages shift Fed rate-cut expectations to September after consumer price data

(Reuters) -Several global brokerages have pushed back their expectations of the U.S. Federal Reserve starting to lower interest rates to September from June following a bigger-than-expected rise in March consumer prices, with some seeing a cut only in December. The consumer price index (CPI) rose 0.4% last month and increased 3.5% on an annual basis. […]

Morgan Stanley Pledges $20 Million for Children’s Mental Health Initiative

NEW YORK (Reuters) – Morgan Stanley pledged $20 million over five years to its children’s mental health initiative, bringing its commitment to $50 million since it began in 2020, the bank said in a statement on Thursday. The Morgan Stanley Alliance for Children’s Mental Health funds nonprofit groups that carry out research and programs focused […]

Fed seen cutting US interest rates later, and less, as inflation stays hot

By Ann Saphir (Reuters) -Prospects for a first Federal Reserve interest-rate cut before the end of summer — or even at all this year — took a body blow on Wednesday with another U.S. inflation report that cast into stark relief the stickiness of price pressures across the U.S. economy. After months of centering on […]

Google unveils Arm-based data center processor, new AI chip

By Max A. Cherney SAN FRANCISCO (Reuters) – Google on Tuesday revealed the details of a new version of its data center artificial intelligence chips and announced an Arm-based based central processor. WHY IT’S IMPORTANT Google’s tensor processing units (TPUs) are one of the few viable alternatives to the advanced AI chips made by Nvidia, […]

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Adidas Shares Surpass Two-year High As ‘Terrace’ Sneaker Trend Boosts Brand Heat

April 17, 2024

By Linda Pasquini (Reuters) -Shares in Adidas rose more than 8% on Wednesday, hitting their highest level in over two years after the German sportswear giant on Tuesday reported quarterly results above expectations and hiked its 2024 guidance on strong demand for its sneakers. Growth is being driven by strong demand momentum in “terrace” retro […]
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