Bloomberg

The Fed's last rate hike will come in January, but stocks will still be under pressure from dismal earnings in 2023, Morgan Stanley strategist says

4 days ago   |   By Business Insider

Federal Reserve Board Chairman Jerome Powell. Alex Wong/Getty Images
The Fed could stop hiking rates as soon as January of next year, according to Morgan Stanley's Andrew Sheets.
Sheets pointed to evidence of falling inflation, though he noted central bankers would likely keep monitoring the economy after pausing rate hikes.
But while investors are hoping a pause could spark a new rally, stocks will still be under pressure next year on poor earnings, he warned.
The Federal Reserve's last rate hike could come as soon as January, but stocks will still be under pressure from dismal earnings...
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Nigeria hopes new currency notes curb inflation, corruption

Nigeria hopes new currency notes curb inflation, corruption

4 days ago   |   By Stl Today

Nigeria has unveiled newly designed currency notes that the West African nation's central bank says will help curb inflation and money laundering. At the unveiling of the notes Wednesday, Central Bank of Nigeria Gov. Godwin Emefiele said the new notes...
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Nigeria hopes new currency notes curb inflation, corruption

4 days ago   |   By Chron

ABUJA, Nigeria - Nigeria on Wednesday launched newly designed currency notes, a move that the West African nation's central bank says will help curb inflation and money laundering.
The newly designed denominations of 200 , 500 and 1,000 naira also would drive financial inclusion and economic growth, said Godwin Emefiele, governor of the Central Bank of Nigeria.
Experts, however, are skeptical about such results in a country that has battled chronic corruption for decades, with government officials known to loot public funds that has caused more hardship for the many struggling with...
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2023 will be year of ‘hope and focus' for AI, says PepsiCo transformation leader

2023 will be year of ‘hope and focus' for AI, says PepsiCo transformation leader

4 days ago   |   By Venture Beat

The year in AI has been aspirational but ultimately unsuccessful, says PepsiCo's Athina Kanioura. But she has high hopes for 2023.
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Cyber Monday deals lure in consumers amid high inflation

Cyber Monday deals lure in consumers amid high inflation

Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price... Read more ...

V7 snaps up $33M to automate training data for computer vision AI models

V7 snaps up $33M to automate training data for computer vision AI models

Artificial intelligence promises to help, and maybe even replace, humans to carry out everyday tasks and solve problems that humans have been unable to tackle, yet ironically... Read more ...

'Gaslighting' is Merriam-Webster's word of the year for 2022

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Merriam-Webster has chosen “gaslighting” as its word of the year for 2022. Lookups for “gaslighting” on the dictionary company's website increased this year by 1,740% over... Read more ...

Online Black Friday sales set a new record

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Online Black Friday sales in the U.S. topped a record-breaking $9.12 billion this year, kicking off a solid start to the holiday shopping season despite inflation and other... Read more ...

Houston residents told to boil their water until at least late Monday

Schools are closed, but officials say they believe it to be largely precautionary. Read more ...

Google, Microsoft-backed VerSe Innovation cuts 5% of workforce, reduces salaries

India's VerSe Innovation - the $5 billion Indian startup behind news aggregator Dailyhunt, short-video platform Josh, and hyperlocal video app PublicVibe - has cut 150... Read more ...

BlockFi files for Chapter 11 bankruptcy

This past year has been hectic for the crypto lending platform BlockFi and today is no different as the company shared an announcement that it filed for voluntary Chapter 11... Read more ...

Irish watchdog fines Meta 265M euros in latest privacy case

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Irish regulators have slapped Facebook parent Meta with a 265 million euro fine in what is the company's latest punishment for breaching strict European Union data privacy... Read more ...

Santa's back in town with inflation, inclusion on his mind

Santa's back in town with inflation, inclusion on his mind

Don't look for plastic partitions or faraway benches when visiting Santa Claus this year. The jolly old elf is back, pre-pandemic style. Santa booker HireSanta.com has logged a... Read more ...

Inflation around the world

Inflation around the world

Inflation is a concern for many these days, so the FRED Blog looks at what we know and can show about this economic phenomenon. Inflation has complex roots and is treated with... Read more ...