Heather Erickson

Musk’s Neuralink Receives FDA Go Signal for Human Trials

Elon Musk’s US brain-microchip firm Neuralink Corp. has received authorization from the Food and Drug Administration (FDA) to conduct its first human clinical trials for its prototype brain-computer interface (BCI), Link. The company said the FDA’s approval marked a crucial first step that would someday enable their technology to help many people. California-based Neuralink is …

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Lenovo Reports 24% Drop in Revenue on Weaker PC Demand

Chinese computer giant Lenovo Group Ltd. posted its third straight on-year revenue drop on Wednesday as the company continued to see weaker demand for personal computers (PCs). Lenovo stated that revenue for the fourth quarter ending March 31 fell 24% year-over-year to $12.63 billion from $15.30 billion generated in the same period a year ago. …

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Crude

Oil Prices Fall on Concerns Over US Debt Default

Oil prices fell on Tuesday as concerns over a debt default in top consumer US offset optimism on expectations for a tight crude market due to a seasonal increase in gasoline demand and supply cuts from the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Global benchmark Brent crude oil futures traded 0.09% …

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Amazon

Amazon Plans $12.7B Investment in India for AWS Expansion

US e-commerce giant Amazon.com Inc. on Thursday announced plans to make a ₹1.06 trillion ($12.7 billion) investment in India by 2030 as it proceeds with expanding the Amazon Web Services (AWS) infrastructure in the country to meet higher demand for cloud computing services. AWS stated that spending is intended for setting up its cloud infrastructure …

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Morgan Stanley Considers 7% Cut in Asia Investment Bank Jobs

US investment bank Morgan Stanley on Tuesday is reportedly considering slashing 7% of investment bank jobs in the Asia-Pacific region, with China expected to deal the most significant blow. Citing people with knowledge of the matter, the report stated that the layoffs could comprise 40 jobs, including those in the capital markets division. New York-based …

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Crude

Oil Prices Rise But Economic Concerns Limit Gains

Oil prices edged higher on Monday, having posted losses earlier as the demand outlook of the US and China remained dim, offsetting optimism over tighter supplies from output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and the resumption of US fuel reserves buyback. Brent crude oil futures gained 0.15% to $74.28 per …

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TMN - Coffee

Coffee Prices Retreat on Falling Demand and High Supply

On Thursday, coffee prices are being weighed down due to weaker demand after US economic data showed higher weekly jobless claims. Coffee futures for July exports declined by -1.92% to $182.38 a pound on May 11’s Asian afternoon session. Prices are struggling amid a rally in the dollar index into a week high. Also, the …

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