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Oil prices little changed ahead of Fed rate decision

Oil prices traded in a narrow range early on Wednesday as investors remained cautious ahead of an expected interest rate cut by the U.S. Federal Reserve. The Fed on Wednesday is widely expected to cut interest rates for the third time since its policy easing cycle began. More important for the oil market will be any comments on interest rate moves in 2025, analysts say.

Reuters 50 minutes ago

Salesforce closes 1,000 paid 'Agentforce' deals, looks to robot future

Salesforce has closed more than 1,000 paid deals for "Agentforce," its platform for creating virtual representatives powered by artificial intelligence, its CEO Marc Benioff said on Tuesday. At a company event in San Francisco, Salesforce previewed improvements for how businesses could build bots for recruiting, customer service and other specific tasks on its platform and in its messaging app Slack. Salesforce has done as much for its own operations, said Benioff.

Databricks to Hit $62 Billion Valuation in New Funding Round

(Bloomberg) -- Databricks Inc. is raising $10 billion in new funding, a massive cash injection that will bring the software maker’s valuation to $62 billion.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearThe startup, which is among the world’s most highly valued closely held companies, “intends to invest this capital towards new AI products, acquisitions, and significant e

Harvard Duo Powers Bangladesh’s Rickshaws With Battery Startup

(Bloomberg) -- A young company created by chance is trying to transform urban transportation in the world’s most populous region.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearHarvard graduate students Nicole Mao, 33, and Yiwei Zhu, 32, have been building one of Bangladesh’s hottest startups for three years after getting stuck in the country during the pandemic. Their batt

Flight From Chip Risks Boosts Japan’s Gaming Stocks Ahead of Trump

(Bloomberg) -- Japanese gaming stocks are emerging as unlikely winners from Donald Trump’s election, as tech investors seek less exposure to trade uncertainties swirling around China-dependent chipmaking gear companies.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearShares of console and software makers like Sony Group Corp., Nintendo Co. and Capcom Co. have seen double-dig

TikTok’s long-shot strategy to escape US ban is down to SCOTUS and Trump

TikTok is making two emergency appeals to save its social media app from a countrywide ban before the Supreme Court and President-elect Donald Trump. Neither is guaranteed to work.

Eutelsat announces contract with Airbus for 100 satellites

French satellite company Eutelsat has chosen aerospace giant Airbus to build 100 small satellites for its OneWeb constellation extension, with deliveries to begin around the end of 2026. OneWeb is a European constellation of low Earth orbit (LEO) communications satellites acquired by Eutelsat in 2023 to rival the likes of Elon Musk-owned SpaceX's Starlink and Amazon's Project Kuiper. Airbus has so far built built 648 small satellites for OneWeb.

US watchdog finalizes new rule on solar panel, home equity loans

The U.S. watchdog agency for consumer finance on Tuesday finalized new regulations it said would protect home improvement borrowers who finance solar panels and other purchases through their property taxes, the agency said. The announcement from the U.S. Consumer Financial Protection Bureau came amid continued Republican demands from Capitol Hill that President Joe Biden's administration cease adopting new regulations prior to President-elect Donald Trump's inauguration next month. "Today's rule stops unscrupulous companies and salespeople from luring homeowners into unaffordable loans based on false promises of energy savings," said CFPB Director Rohit Chopra.

Broadcom’s ‘Nvidia Moment’ Has Arrived. Now It Needs to Deliver

(Bloomberg) -- Broadcom Inc.’s massive rally after last week’s earnings report is reminiscent of when Nvidia Corp. shares first started to take off back in 2023. The chipmaker now needs to prove it can follow through to become another giant of the artificial intelligence era.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearBroadcom shares have soared 38% through Monday’s clo

Crypto.com CEO Met Trump at Mar-a-Lago as Industry Seeks Influence in New Administration

(Bloomberg) -- Executives in the digital-asset industry are joining the ranks of tech CEOs making the pilgrimage to Mar-a-Lago to meet with President-elect Donald Trump before his impending return to the White House.Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearKris Marszalek, Chief Executive Officer of crypto exchange Crypto.com, met with Trump at the Florida golf resort

Morning Bid: Bonds agitated as Fed meets, G7 politics rumble

Even with another Federal Reserve interest rate cut this week baked in to market pricing, U.S. Treasury bonds appear anxious again about the year ahead - with political upheavals in Germany and Canada clouding the overseas picture. As the Fed meets for the last time this year, there's little doubt in futures markets that it will cut another quarter point off its policy rate. But with the sort of roaring growth in the dominant U.S. services sector seen in this week's December surveys, record high stock markets and likely tax cuts ahead, barely two more cuts are expected next year and Fed policymakers are expected to lift their estimate of long-run neutral rates above 3%.