Europe’s AI Rulebook Meets Its First Two Cases
DUBLIN — Henna Virkkunen used a speech at an artificial intelligence summit here on Wednesday to describe what the European Commission’s AI Office had been doing for the past several…
A Power Plant Built for a Single Customer
CHEYENNE, Wyo. — The generating station American Electric Power plans to build outside this city will sell its electricity to one buyer for twenty years. That contract, and the load…
Two New York Fabs, Paid For From Tokyo
MALTA, N.Y. — This town north of Albany has been making semiconductors for more than a decade. On Wednesday it became the site of an arrangement that has rarely been…
State Street’s Record Custody Book, a Revenue Miss
The asset figures State Street reported Wednesday were the largest in the company’s 234-year history. The revenue line was not large enough. The Boston-based custody bank said assets under custody…
BlackRock’s $205 Billion Quarter, With a Warning About Building
Larry Fink had a message Wednesday for the local officials and candidates campaigning against data centers in their towns, and he delivered it to a television audience rather than to…
Morgan Stanley’s Equity Desk Carries the Quarter
Ted Pick opened his remarks to investors Wednesday by pointing at a franchise rather than a forecast. Morgan Stanley’s equities traders produced $5.8 billion of revenue in the third quarter,…
A $1.2 Billion Penalty and a Trading Miss at Bank of America
Brian Moynihan told analysts in September that trading revenue would come in roughly flat for the third quarter. On Wednesday morning, the chief executive of Bank of America had to…
Netflix Cuts 1,000 Jobs as Growth Slows
Employees at Netflix learned on Wednesday morning that roughly 1,000 of them were being let go. Co-Chief Executives Ted Sarandos and Greg Peters announced the cuts, about 6% of the…
TSMC’s Sixth Straight Record Quarter Meets a Higher Bar
Taiwan Semiconductor Manufacturing has already told investors most of what it earned last quarter. What it has not told them is what it expects next, and that is the part…
Musk Backs Micron’s Memory Prices and Faults Its Rivals
The post arrived at 5:52 p.m. Eastern on Oct. 13, a reply from Elon Musk to an investor summarizing a JPMorgan note about the memory chip market. In two sentences,…
