Mark Zuckerberg has announced his social media empire is building what he claims is the world’s fastest artificial intelligence supercomputer as part of plans to build a virtual metaverse. The Facebook founder said in a blogpost that the metaverse, a concept that blends the physical and digital world via virtual and augmented reality, will require “enormous” computing power. The AI supercomputer, dubbed AI Research SuperCluster (RSC) by Zuckerberg’s Meta business, is already the fifth fastest in the world, the company said.
All eyes will be on the US central bank in the middle of the week as it signals the start of normalising the extraordinary emergency measures put in place in the wake of the pandemic.
US close: Stocks end session in the red as earnings and IMF global growth downgrade take centre stage
Wall Street stocks closed lower on Tuesday as corporate earnings, geopolitical tensions and a downgrade in global growth forecasts were all in focus throughout the session.
European shares put in a slight bounce on the back of a big bounce on Wall Street overnight from its session lows despite the still extremely heightened tensions over Ukraine.
London stocks managed a positive finish on Tuesday, maintaining their momentum from a positive close on Wall Street, with Royal Mail pacing the advance after a well-received update.
A record surge in US home prices barely slowed towards the end of November, the results of a closely-followed survey revealed.
Moonpig disclosed a purchase of almost £0. 1m worth of shares by one of its directors on Tuesday, in what was a day of relatively low-value director dealings.
London’s FTSE 250 was 0. 7% firmer in afternoon trade on Tuesday at 21,598. 73.
London’s FTSE 100 was up 0. 9% at 7,364. 29in afternoon trade on Tuesday.
RBC Capital Markets downgraded fast-fashion retailer Boohoo to 'sector perform' from 'outperform' on Tuesday, slashing the price target to 150. 0p from 330. 0p.
US tech company Nvidia was said on Tuesday to be preparing to abandon its purchase of chip maker Arm from Softbank after making little to no progress in winning approval for the $40bn deal.
US consumer confidence deteriorated in January as short-term expectations weakened, according to a survey released on Tuesday.
Enterprise management software and service provider Sopheon said in a trading update on Tuesday that revenue for 2021 would exceed $34m, up from $30m in 2020.
The International Monetary Fund cut global growth forecasts on Tuesday, citing a number of threats to the world's economic recovery from the Covid-19 pandemic.
Wall Street stocks were firmly in the red early on Tuesday as corporate earnings, geopolitical tensions and a downgrade in global growth forecasts were all in focus at the bell.
Construction software company Eleco said in a trading update on Tuesday that its unaudited revenue for 2021 was expected to be £27. 3m, an increase of 8% year-on-year, and above market expectations.
General Electric saw earnings dip in the fourth quarter, the industrial giant reported on Tuesday, sending its shares sharply lower as trading got under way.
UK manufacturers are poised to ramp up prices as they battle rising costs and labour shortages, a closely-watched survey showed on Tuesday.
Specialist treatment and vaccine delivery system developer N4 Pharma updated the market on its work plan on Tuesday, following “encouraging data” from its oncology research as announced on 13 December.
Mobile payments and messaging provider Fonix Mobile said in a trading update on Tuesday that gross profit and adjusted EBITDA in the first half had grown ahead of management expectations.
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