Author: News Room

The Australian Dollar appreciates after the release of the lower-than-expected GDP data on Wednesday. Australia’s GDP grew 0.1% QoQ in the first quarter, falling short of the expected 0.2% reading. The US Dollar could rebound due to the higher US Treasury yields. The Australian Dollar (AUD) gains ground, possibly due to improved risk sentiment on Wednesday. The upside of the Aussie Dollar could be limited due to the lower-than-expected Gross Domestic Product data, which grew 0.1% QoQ in the first quarter, against the expected 0.2% reading. On an annual basis, the economy grew 1.1%, slightly below the expected 1.2%. The…

Google released a new policy working paper on June 4 titled “Generative AI and Privacy,” emphasizing the critical need for privacy protections in the development and deployment of artificial intelligence (AI) technologies. The paper, authored by Google’s Global Director of Privacy Safety and Security Policy, Kate Charlet, outlines the company’s approach to embedding privacy safeguards in AI products from the outset. According to Chartlet: “AI has the potential to tackle a wide range of tasks, from mundane chores to groundbreaking medical discoveries. However, to fully harness its potential, we must ensure that AI is developed with strong privacy protections.” Privacy-by-design…

“A diamond is forever,” but perhaps not for the increasing number of consumers spurning the gemstone for lab-grown counterparts, gold and even other colored gemstones.The slogan was coined by diamond giant De Beers in 1948, capturing the impression of security and romance. But not all relationships withstand the test of time.The company’s largest shareholder Anglo American plans to divest De Beers as it restructures its business after rejecting a takeover bid from BHP. Anglo American CEO Duncan Wanblad told the Financial Times that selling De Beers will be “the hardest part” of the company’s radical restructuring.”Diamonds don’t really fit in…

Comey says Trump is ‘begging’ for a jail sentence. Hear why Former FBI director James Comey weighs in on whether former president Donald Trump should receive a jail sentence after a guilty verdict in his historic hush money criminal trial. 

A six-year synthetic diamond experiment by De Beers is being abandoned in the first aftershock of the failed $49 billion attempt by BHP to buy mining rival Anglo American, the current owner of the diamond industry leader. The controversial decision to make and market synthetic, or laboratory grown diamonds, was an attempt by De Beers to be a player at the cheap end of the gem business, a place in which it has never been comfortable. Lured by the opportunity to sell man-made gems to a mass audience there was always the risk that De Beers would get trapped in…

It’s a significant victory for the younger Menendez, who had found himself in the fight of his life amid his father’s lurid corruption scandal. Sen. Menendez has been accused of accepting bribes in the form of wads of cash and gold bars in exchange for, among other things, acting as a foreign agent. His trial began last month and remains ongoing.The congressman had been challenged by Hoboken Mayor Ravi Bhalla, who waged a campaign largely based around the elder Menendez. Though the congressman has not been linked to his father’s alleged misdeeds, he has defended him amid the charges, and…

Three boys in North Dakota were out on a family hike when they came across something many adventurous kids only dream of finding: dinosaur bones.The T. rex skeleton was discovered in 2022, when brothers Jessin and Liam Fisher, their dad, and their cousin Kaiden Madsen, were hiking in the Badlands near Marmarth and looking for fossils, according to a statement issued Monday by the Denver Museum of Nature & Science, which is set to display the skeleton this summer. The boys, who were aged 10, 9, and 7 at the time of the discovery, said in a press conference they…

SINGAPORE (Reuters) – The dollar steadied on Wednesday as traders pared back on riskier bets in emerging markets while waiting on an interest rate decision in Canada and on U.S. services data. The Swiss franc and yen were also beneficiaries of the sentiment, with the yen receiving an extra boost after Bloomberg News reported the Bank of Japan was likely to mull cuts to bond buying at its policy meeting next week. The yen eased 0.2% to 155.27 in early trade in the Asia session, and hovered at 168.74 to the euro after making 1% jump on the common currency…

Investing.com– Oil prices fell slightly in Asian trade on Wednesday, remaining at four-month lows after industry data pointed to an unexpected, bumper build in U.S. inventories.  The data, which came after a string of weak U.S. economic prints, added to concerns over slowing demand as economic growth cools. expiring in August fell 0.1% to $77.44 a barrel, while fell 0.1% to $72.98 a barrel by 20:53 ET (00:53 GMT). Both contracts extended losses into a sixth consecutive session, and were close to their weakest levels since early-February. US inventories see bumper build- API  Data from the showed inventories saw a…

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Bill Ackman, the Wall Street agitator who’s become an armchair political crusader for the put-upon billionaire class, is cashing in on his social media clout in a deal that could make him boatloads more money. See here: On Monday, Ackman announced that he’s selling a 10% stake — valued at more than $1 billion — in his Pershing Square hedge fund to a group of investors. Basically, all that means is that he’s raising a ton of…