AI companies lose $190 billion in market cap after Alphabet and Microsoft report
AI companies lost $190 billion in stock market value late Tuesday after quarterly results from Microsoft, Alphabet and Advanced Micro Devices failed to impress investors who sent their shares soaring. . The tech giant’s reported selloff after the bell comes after hopes of embedding technology throughout the company pushed its stock to record highs following […]
Banks slam Biden administration plan to cap overdraft fees
Banking industry groups on Wednesday condemned the Biden administration's latest proposal to limit overdraft fees, dismissing it as a “false proposal” and an “effort to score political points.” A rule proposed by the Consumer Financial Protection Bureau (CFPB) would require large banks to limit overdraft fees using a “break-even standard,” or benchmark fee, and remove […]