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Nvidia's stock plummeted in after-hours trading following reports that Huawei is testing a competing AI processor. The company faces new restrictions on H100 chip sales in China, raising concerns about potential sales slowdowns in a market that remains crucial for Nvidia. As tariffs escalate in the ongoing U.S.-China trade war, investor confidence has waned amid decreasing demand for intensive computing in AI models.
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Vodafone Idea shares are in focus as Goldman Sachs acquired a 0.55% stake through a bulk deal, purchasing shares worth Rs 457.96 crore at Rs 7.65 each. This transaction follows Nokia Solutions and Networks India selling a 0.95% stake, raising Rs 785.67 crore. The government's recent conversion of Rs 36,950 crore in spectrum dues into equity has increased its stake in Vodafone Idea to nearly 49%, providing significant financial relief to the telecom operator.
Saudi Arabia and Qatar have jointly settled Syria's World Bank arrears with a payment of $15 million. This financial support aims to alleviate Syria's economic challenges and facilitate its engagement with international financial institutions.
The Wells Fargo Class Action Settlement 2025, totaling $3.7 billion, addresses widespread misconduct affecting over 16 million customer accounts from 2011 to 2022. Customers with accounts, loans, or mortgages during this period may receive compensation ranging from $100 to over $4,000, with most payments processed automatically throughout 2025. Wells Fargo has since implemented reforms to enhance compliance and transparency while federal agencies continue to monitor the bank's practices.
Top British bank chiefs, including those from HSBC, Lloyds, NatWest, and Santander UK, have urged the finance minister to abolish bank ring-fencing, arguing it hinders economic growth and is now unnecessary. They believe removing these constraints would enhance banks' ability to support businesses amid global economic challenges. The government has indicated a willingness to reconsider regulations to foster growth while balancing financial stability concerns.
Top UK bank chiefs, including those from HSBC, Lloyds, NatWest, and Santander, have urged Finance Minister Rachel Reeves to abolish bank ring-fencing, arguing it hinders their ability to support businesses and is now unnecessary. They believe removing these constraints would enhance the banking sector's capacity to foster economic growth. Reeves has acknowledged the need for reform but emphasized the importance of maintaining financial stability in light of past crises.
The U.S. budget deficit is projected to narrow to $1.70 trillion in the 2025 fiscal year, aided by increased tariff revenues and spring tax collections, according to Wells Fargo analysts. Despite current tariffs not yet boosting customs receipts significantly, expectations are for revenues to rise to $20 billion per month by May. However, concerns remain about the tariffs' impact on inflation and economic activity, with a forecasted deficit widening to $2.0 trillion in the following year due to a weaker economy and proposed tax cuts.
The chief executives of HSBC, Lloyds, NatWest, and Santander UK are urging the chancellor to abolish bank ring-fencing, arguing it hinders economic growth and imposes unnecessary constraints on lending. They claim the regulation, designed post-2008 crisis to enhance safety, is now redundant and detrimental to UK competitiveness. The bank leaders advocate for reform to better support businesses and attract investment, emphasizing the need for a clear commitment to abolish ring-fencing during the current Parliament.
Indonesia's QR code payment system is gaining traction across the region, showcasing its potential for growth despite facing criticism from the United States. This expansion highlights the increasing adoption of digital payment solutions in Southeast Asia, reflecting a shift in consumer behavior and financial technology trends.
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Nvidia faces challenges as Huawei tests competing AI processor in China
06:47 28.04.2025
US China trade conflict triggers supply chain disruptions and economic concerns
06:13 28.04.2025
Goldman Sachs acquires 0.55 percent stake in Vodafone Idea through bulk deal
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05:46 28.04.2025
Saudi Arabia and Qatar clear Syria's World Bank debts with 15 million payment
15:41 27.04.2025
wells fargo class action settlement offers billions in customer compensation
06:26 27.04.2025
bank chiefs call for removal of ring-fencing to boost economic growth
16:49 26.04.2025
bank chiefs call for removal of ring-fencing to boost economic growth
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15:12 26.04.2025
us budget deficit projected to narrow in 2025 amid rising tariff revenues
11:12 26.04.2025
bank chiefs urge government to abolish ring-fencing to boost economy
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09:32 26.04.2025
Indonesia's QR code payment system gains regional traction amid US concerns
06:40 26.04.2025
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