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Top Business Updates as of February 23, 2024


Here are top 25 business news today:

Bank Risks Management: According to Reuters, banks that partner with fintech companies to offer banking services should proactively manage the related risks, as stated by a leading U.S. bank regulator.

Global Debt Record: Global debt reached a new record high of $313 trillion in 2023, according to IIF (Institute of International Finance).

Grab Profits: Grab, a ride-hailing giant, recorded its first profitable quarter and announced a $500 million share buyback.

Standard Chartered Profits: Standard Chartered reported an 18% increase in pre-tax profits for 2023 and announced a £1 billion ($1.2 billion) share buyback.

Stock Market Performance: Nvidia’s stock price surge triggered a rally on Wall Street, setting another record high.

Japan’s benchmark index also broke its 1989 record and surged to an all-time high.

AT&T Outage: AT&T attributed a recent cellphone network outage to bad coding instead of a cyberattack.

Vice Media Shutdown: Vice Media is shutting down and laying off several hundred staff as part of a strategic shift.

Reddit Deal: Reddit signed a $60 million deal allowing Google to train AI models on its posts.

Google Suspends Gemini AI Chatbot: Google suspended Gemini AI chatbot’s ability to generate pictures of people.

Japanese Exports Surge: Japanese exports surged nearly 12% in January for the second consecutive monthly gain.

Consumer Sentiment Improves: Consumer sentiment edged higher as economic growth accelerated and inflation faded.

First Offshore Wind Farm in U.S.: The first large-scale offshore wind farm in the United States began delivering electricity.

Blackstone CEO Concerns: Blackstone CEO Stephen Schwarzman expressed concerns about “not bright” criminals gaining access to AI technology.

Intuitive Machines Stock Jump: Intuitive Machines’ stock jumped after successfully landing on the moon.

Rivian and Lucid Share Price Drop: Rivian and Lucid shares dropped after weak electric vehicle earnings reports.

Existing Home Sales Increase: Existing home sales increased in January, although higher mortgage rates were negatively impacting the housing market.

Moderna Posts Quarterly Profit: Moderna posted a surprising quarterly profit despite declining COVID-19 vaccine sales.

Novavax Settles Dispute Over Canceled COVID Vaccine Purchase Agreement: Novavax settled a dispute over a cancelled COVID-19 vaccine purchase agreement.

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