(Reuters) -Construction spending on U.S. data centers reached an all-time high of $40 billion at a seasonally adjusted annual rate in June, as technology giants continue pouring billions into AI infrastructure, according to a Bank of America Institute report. BY THE NUMBERS The June figure represents a 30% increase from the previous year, following a 50% surge in 2024, the report said, citing U.S. Census Bureau data. WHY IT'S IMPORTANT The boom in generative AI and machine learning is fueling demand fo ...

By Helen Reid LONDON (Reuters) -Zara owner Inditex reported a better start to its autumn sales on Wednesday, an encouraging sign as the world's biggest listed fast-fashion retailer grapples with the impact of a weak dollar and U.S. tariffs on consumer spending. Sales from August 1 to September 8 grew 9% in currency-adjusted terms compared to a year ago, picking up in pace from 5.1% growth over the first half. Shares in Inditex, which have fallen this year, gained 6% in early trading. The start to the th ...

Core Insights - Synopsys shares experienced a significant decline, dropping approximately 35% after the company reported quarterly earnings that fell short of analysts' expectations and reduced its full-year outlook due to decreased demand for its design intellectual property [2][5]. Financial Performance - Adjusted earnings per share for Synopsys in the fiscal third quarter were reported at $3.39, which was below the average analyst estimate [3]. - Revenue increased by 14% year-over-year to $1.74 billion, but this also missed projections [3]. - Sales of design intellectual property decreased by 8% to $427.6 million, representing a drop from 30.4% of overall revenue to 24.6% [3]. - Design automation sales rose by 23% to $1.31 billion [3]. Management Commentary - CEO Sassine Ghazi described the quarter as "transformational," citing a "challenging geo-political backdrop" [4]. - CFO Shelagh Glaser indicated that the company is adopting a more conservative outlook for the fourth quarter [4]. Future Outlook - The company anticipates adjusted earnings for the current quarter to be between $2.76 and $2.80, which is below analyst consensus [4]. - Full-year adjusted earnings are now projected to be in the range of $12.76 to $12.80, down from the previous outlook of $15.11 to $15.19 [4].

But you don’t have to be a multibillionaire like Ballmer to have a portfolio of dividend-paying stocks. Although Americans on the upper rungs of the economic ladder continue to own the lion’s share of stock in the United States, data from the Federal Reserve’s Survey of Consumer Finances show that 58% of U.S. families owned stocks in 2022 — the highest level ever recorded by the survey, and a sizable increase from the 32% ownership rate recorded in 1989. The data show stock ownership expanding among lower- ...

GlobalData research shows that younger consumers in the UK are more likely to hold pay-as-you-go (PAYG) or usage-based (UBI) car insurance policies. However, the latest Consumer Intelligence Car Insurance Price Index indicates that this group is facing rising premiums, with reports suggesting telematics providers are becoming less willing to offer competitive rates to younger drivers. GlobalData’s 2024 UK Insurance Consumer Survey shows that 14.4% of consumers aged 18 to 24 have a PAYG or UBI car insuranc ...

A 22-year-old Gen Z named Nick called into Dave Ramsey’s show asking the financial guru’s advice. The caller explained he was living at home with an annual income of $15,000. He also shared that he had managed to save $3,000 and had $43,000 invested — the majority in individual stocks. He asked Ramsey what kind of retirement account he should open. Instead of going over retirement account options, Ramsey advised Nick to put a pause on retirement contributions — at least temporarily. Instead, Ramsey said t ...

By Francesca Landini and Giancarlo Navach MILAN (Reuters) -Italian gas and electric utility Edison plans to replace some gas volumes from pipeline contracts with liquefied natural gas to gain more flexibility in managing demand, its CEO said on Wednesday. The company earlier announced a 15-year agreement with Shell to purchase around 0.7 million tonnes a year of U.S. LNG starting in 2028. European companies are stepping up LNG purchases to gain flexibility, so they can resell cargoes to other markets wh ...

Key Points Ripple has struggled for years to gain mainstream credibility. Ripple's reputation is changing fast, and so might adoption. 10 stocks we like better than XRP › It has been a terrific year for Ripple (CRYPTO: XRP). Since 2025 began, XRP has increased in value by more than 40%. This follows a spectacular 2024 performance that saw this crypto token nearly triple in value. There's one reason to believe that even more gains are on the way. Mass adoption may finally be on the way I have bee ...

Larry Ellison has overtaken Elon Musk as the world’s richest person after shares in his software giant Oracle soared on Wednesday. Ellison’s fortune was up $101 billion mid-morning after the company’s revenue forecasts for the next five years caused its market value to rise 44% to more than $959 billion. The increase puts Ellison’s estimated fortune at $393 billion, per Bloomberg Billionaires Index, ahead of Musk, who is worth $385 billion. The rise marks the sharpest one-day rise ever for a member of th ...

MADS CLAUS RASMUSSEN / Ritzau Scanpix / AFP / Getty Images Novo Nordisk expects the job reductions will save about $1.25 billion by the end of next year. Key Takeaways Novo Nordisk said it is laying off about about 9,000 positions or 11.5% of its workforce in a "transformation" of the drugmaker's business. The maker of Ozempic and Wegovy said the cuts are part of a plan to help the company grow its diabetes and weight-loss products. Novo Nordisk expects the job reductions will save about $1.25 billio ...