Hindustan Construction Company Limited (HCC) secured a significant railway contract valued at ₹577.89 crore from the Northeast Frontier Railway. The project has been awarded to the HCC-VCCL Joint Venture, in which HCC holds a 65% stake.The scope of work includes a balance of construction for four critical tunnels — Tunnel No. 9 (600 m), Tunnel No. 11 (350 m), Tunnel No. 13 (400 m), and Tunnel No. 16 (600 m) — along with cut-and-cover works. It also covers earthwork in embankments and cuttings to form the ra ...

A resurgent yen has been the main focus for the foreign exchange market this week, particularly as its rise confounded initial expectations that a selloff in the currency could gather pace if Takaichi secured ‌a strong mandate.It ⁠was last ⁠steady at 152.86 per dollar, but was set to gain nearly 3% for the week, which would mark its largest advance since November 2024.Against the "The election outcome might be seen as marking an end to the political instability that has persisted since July last year, sugg ...

Key TakeawaysAI "Scare Trade" Hits Logistics: A former karaoke company, AlgoRhythm Holdings Inc., sparked a sell-off in the trucking sector after announcing AI-driven efficiency gains, causing the Russell 3000 Trucking Index to drop 6.6%.Rivian's Strong Outlook: Rivian Automotive Inc. (RIVN) shares jumped after reporting a smaller-than-expected Q4 loss and forecasting strong vehicle deliveries for 2026.Nvidia's Nevada Expansion: NVIDIA Corp. (NVDA) will lease a 200-megawatt data center in Nevada, financed i ...

BRAMPTON, Ontario, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Loblaw Companies Limited (TSX: L; “Loblaw”) announced today that, in connection with its previously announced transaction (the “Transaction”) involving the sale of President’s Choice Bank and certain other affiliated entities to EQB Inc. (“EQB”) and long-term strategic relationship with EQB, it has entered into an automatic share purchase plan (“ASPP”) with a broker in order to facilitate the purchase of common shares in the capital of EQB (“EQB Common Sh ...

Venezuela to grant more oil drilling blocks to Chevron, Repsol, Bloomberg News reports | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]The Chevron offices are pictured in Caracas, Venezuela, December 2, 2022. REUTERS/Gaby Oraa/File Photo [Purchase Licensing Rights, opens new tab]- Companies[Chevron Corp]Follow[Repsol SA]FollowFeb 12 (Reuters) - Venezuela plans to grant more oil-production land to Chevron [(CVX.N), opens new tab] an ...

Core Insights - Artificial intelligence (AI) is transitioning from a growth driver for technology stocks to a disruptor in traditional financial services, impacting market expectations for wealth management firms globally [1] - Major wealth management and brokerage stocks have experienced significant declines as investors assess the implications of new AI tools that automate tasks previously performed by human advisors [1] Stock Performance - The Charles Schwab Corp. (SCHW) has decreased by 10.9%, LPL Financial Holdings Inc. (LPLA) by 13.8%, and Raymond James Financial Inc. (RJF) by 8.8% in recent trading days [2] - Other firms such as Lazard and Stifel Financial have also seen declines of nearly 4% and 4.9%, respectively, while banks with substantial wealth management exposure, including JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo, have dropped more than 4% [2] Trigger for Stock Selloff - The stock market reaction was initiated by the launch of an AI-powered tax planning tool by U.S. fintech startup Altruist, which is integrated into its Hazel platform [3] - This tool can process client data to generate personalized tax strategies and financial insights that previously required extensive manual work from advisors [3] Investor Concerns - Investors view the AI tool as a potential threat to traditional revenue streams in wealth advisory, particularly in fee-based services like tax planning and portfolio strategy [4] - The ability to commoditize and scale complex financial advice rapidly raises concerns about the erosion of fee margins and business models for existing firms [4] Shift in Market Focus - The market's focus has shifted from beneficiaries of the AI boom to those who might be displaced by it, affecting asset management and private capital firms [5][6] - Executives from firms like Blackstone and Apollo Global Management have attempted to reassure stakeholders that AI is unlikely to undermine their businesses, but skepticism remains prevalent [6] Reassessment of Risks - The initial optimism surrounding AI is evolving into a reassessment of risks, as investors consider the potential for AI to compress margins and alter business models [7] - The recent selloff in wealth management stocks signifies a turning point in how investors perceive AI risk within financial services [8] Implications for Wealth Management - The declines in shares of firms like Schwab, LPL Financial, and Raymond James reflect fears that AI could diminish advisory fees and disrupt established operating models [8][9] - While it is too early to label AI as an existential threat to human-led wealth advice, the rapid advancement of tools like Altruist's Hazel platform necessitates a reevaluation of defensible areas within the value chain [10] - Success for incumbents will likely hinge on the effective integration of AI into client service, compliance, and portfolio construction, where trust and judgment remain essential [10]

Vladimir Dimitrov, CFA is a former strategy consultant within the field of brand and intangible assets valuation. During his career in the City of London he has been working with some of the largest global brands within the technology, telecom and banking sectors. He graduated from the London School of Economics and is interested in finding reasonably priced businesses with sustainable long-term competitive advantages.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of ...

AI-driven market disruption could hit loans and high-yield credit, UBS says Proactive uses images sourced from Shutterstock The recent selloff in credit markets reflects growing concern that artificial intelligence (AI) is moving faster than many expect, and its impact may extend well beyond software, according to UBS analysts. In a note to clients, the bank’s analysts said markets have only partially priced in the risk, particularly for lower-quality credit sectors in the US. Investment-grade (IG) bonds ...

Stocks have moved sharply lower over the course of the trading day on Thursday, with the major averages all showing significant moves to the downside after once again failing to sustain an initial move to the upside. Currently, the major averages are just off their lows of the session. The Dow is down 496.77 points or 1.0 percent at 49,624.63, the Nasdaq is down 341.43 points or 1.5 percent at 22,725.04 and the S&P 500 is down 68.04 points or 1.0 percent at 6,873.43.The sell-off on Wall Street partly refle ...

Join for a 100% Risk-Free trial and see if our proven method can help you too. You do not need to pay for the costly lessons from the market itself.Sensor Unlimited is an economist by training with a PhD, with a focus on financial economics. She is a quantitative modeler and for the past decade she has been covering the mortgage market, commercial market, and the banking industry. She writes about asset allocation and ETFs, particularly those related to the overall market, bonds, banking and financial secto ...