Author: News Room

Computers helped put into motion the revolution that powered much of the world’s digitalization in the 20th century. And now quantum computing — which uses the laws of quantum mechanics to solve problems that classical computers would find impossible — looks set to act as the engine for innovation in the 21st century.Quantum has the potential to unlock opportunities in everything from the green revolution to drug discovery and computerized simulations, reducing costs, improving efficiencies, and creating entirely new technological solutions. But as tech frontiers continue to be pushed forward, making the quantum leap requires as much expertise and innovation…

By Niket Nishant (Reuters) -Reddit’s shares opened 38% above the initial public offering price in their debut on the New York Stock Exchange on Thursday, valuing the social media platform at $8.87 billion. The San Francisco, California-based company priced its IPO at the top end of the $31 to $34 range. The IPO valued Reddit at $6.4 billion, while the company and its selling shareholders raised $748 million. Reddit’s long-awaited entry as a publicly traded company has been in the works for more than two years. It confidentially filed for an IPO in Dec. 2021, but the stock rout due…

By Valerie Volcovici WASHINGTON (Reuters) – The Biden administration says its recent decision to scale back new climate regulations meant to force emissions cuts from cars and power plants will have a negligible impact on its overarching goal to halve greenhouse gas pollution this decade. But whether that is true hinges on whether the U.S. succeeds in its parallel strategy – to use lucrative taxpayer subsidies to fuel a massive deployment of solar, wind and other renewable energy installations that Biden hopes will ultimately power America’s fleet of electric vehicles, along with its homes and businesses, according to researchers. “I…

Boeing’s production problems are reverberating through an airline industry starved for planes, making it harder for carriers to meet red-hot demand for travel and raising the prospect of even higher ticket prices. On Wednesday, Ryanair (RYAAY) CEO Michael O’Leary explained why prices have further to climb. “If you have constrained supply (and) strong demand, I think it’s inevitable that you’re going to see air fares bump again this summer… between 5 and 10%,” he told CNN’s Richard Quest. Europe’s biggest airline by passengers had expected to receive 57 Boeing planes this summer, but now anticipates getting between 35 and 40,…

GBP/JPY pulls back from extremes after the recent bout of Yen weakness.  The Pound Sterling weakens after the BoE distribution of voting shows no-one voted for a hike.  Japanese PMI data shows steady progress higher, UK data is mixed.  GBP/JPY is down over half a percent on Thursday, trading in the 192.000s, after a combination of the results of the Bank of England (BoE) policy meeting and weaker-than-expected UK PMI data, weighed on the Pound Sterling (GBP).  An improvement in Japanese data, meanwhile, may have helped staunch the recent hemorrhaging experienced by the Yen (JPY). The Jibun Bank Manufacturing Purchasing…

Bitcoin, the first and most popular cryptocurrency, has been making headlines with its recent surge to a new all-time high of over $72,000. This remarkable price increase has sparked renewed interest in Bitcoin as an investment opportunity, leaving many wondering what this means for their financial future. Investors may see this surge as a validation of Bitcoin’s potential as a long-term store of value and may allocate more of their portfolio to cryptocurrencies. However, the rapid rise in price may also raise concerns about potential volatility and the sustainability of such gains, prompting investors to carefully evaluate the risks before…

Reddit shares jumped 38% on Thursday to open at $47 in the first initial public offering for a major social media company since Pinterest’s debut in 2019.The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. Reddit and selling shareholders raised about $750 million from the offering, with the company collecting about $519 million.Trading under the ticker symbol “RDDT,” Reddit is testing investor appetite for new tech stocks after an extended dry spell for IPOs. Since the peak of the technology boom in late 2021, hardly…

Check out the companies making headlines in midday trading. Micron — The semiconductor manufacturer popped 14% after beating analyst expectations for its fiscal second-quarter earnings and revenue. Micron posted earnings of 42 cents per share on $5.82 billion of revenue. Analysts polled by LSEG expected a loss of 25 cents per share on $5.35 billion of revenue analysts had expected. The company also guided for higher third-quarter earnings and revenue than consensus had estimated. Apple — The technology stock dropped 3.2% on news that the Department of Justice was suing Apple. Regulators said that the iPhone ecosystem is a monopoly and anti-competitive practices appear in multiple…

Attorney General Merrick Garland said Thursday that it would have been “absurd” for someone in his position to edit or redact a special counsel’s final report. In response to a question about whether former special counsel Robert Hur’s characterization of President Joe Biden was inappropriate in his final report, Garland said it was his obligation to release a full and unedited report. “The idea that an attorney general would edit or redact or censor the special counsel’s explanation for why the special counsel reached the decision that the special counsel did – that’s absurd,” Garland said during a news conference…

With less than a month remaining in the NBA season, it’s time we start looking at a few of the 2023-24 award races. Let’s begin with Sixth Man of the Year, the honor that often flies under the radar. Last year, Malcolm Brogdon captured the award with the Boston Celtics by taking 60% of the first-place votes. His productivity as a driver and outside shooting threat allowed Boston to mix-and-match different lineups, which gave them ultimate flexibility. He received nearly twice as many votes as Immanuel Quickley, while Bobby Portis finished a distant third. The race is deeper this season.…