WASHINGTON—A group of 40 U.S. Republican members of the Senate and House of Representatives Armed Services Committees urged President Joe Biden to include a 5 percent increase above inflation for defense spending in his proposal for the fiscal 2023 U.S. budget. Biden is expected to announce his budget next week. “As you prepare your fiscal…
US Republicans Want Higher Defense Spending, Citing Ukraine and China
March 24, 2022
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Taliban Cancels Girls’ Higher Education Despite Pledges
KABUL, Afghanistan—Afghanistan’s Taliban rulers decided against opening schools to girls above the sixth grade, reneging on a previous promise and opting to appease their hardline base at the expense of further alienating the international community. The unexpected decision, confirmed by a Taliban official Wednesday, came at the start of the new school year in Afghanistan….
C3.ai Secures $500 Million Defense Department Contract
Enterprise AI software company C3.ai established a new five-year Production-Other Transaction Agreement worth $500 million with the Department of Defense (DoD). The agreement allows for an accelerated timeline to acquire C3 AI’s suite of Enterprise AI products. It enables any DoD agency to acquire C3 AI products and services for modeling and simulation. “The new…
Why Are EPAM Shares Trading Higher Premarket?
EPAM Systems Inc. will replace Kansas City Southern in the S&P 500 effective before trading on December 14. EPAM provides software product development and digital platform engineering services to global clients. Last month, EPAM reported third-quarter FY21 revenue growth of 51.6 percent year-on-year to $988.5 million, beating consensus. Non-GAAP EPS of $2.42 beat the consensus…
Wall Street Ends Higher as Investors Bet on Positive Earnings Season
October 20, 2021
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U.S. stock indexes closed higher on Tuesday with the biggest boosts from the technology and healthcare sectors as investors appeared to bet on solid quarterly reports even as some worried that it was too early to celebrate. In its fifth straight session of gains, the benchmark S&P 500 index finished just 0.4 percent below its…
Wall Street Set to Open Higher on Bargain Hunting, Merck Boost
October 1, 2021
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Wall Street’s main indexes were set to rise on Friday as steep losses in September saw investors buying into cheaper sectors, while drugmaker Merck rose on marking progress in the development of an oral COVID-19 drug. Shares of Merck & Co. Inc. jumped 8.3 percent in premarket trading after the company’s experimental oral drug for…
Oil Shrugs Off Higher US Crude Stocks, Strong Dollar
September 30, 2021
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LONDON—Oil prices held steady on Thursday after rising above $80 a barrel this week, shrugging off bearish factors such as rising U.S. crude oil inventories and a strong dollar amid consensus that a supply deficit will stay for coming months. Brent crude for November delivery was up 21 cents at $78.85 a barrel by 0856…
World Shares Mostly Higher After US Averts Shutdown
September 30, 2021
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European shares and U.S. futures climbed Thursday after U.S. lawmakers moved to avert a government shutdown. Germany’s DAX edged 0.1 percent higher to 15,378.85 while the CAC 40 in Paris added 0.5 percent to 6,593.48. In London, the FTSE 100 also gained 0.5 percent, to 7,146.51. The future for the Dow industrials was 0.7 percent…
Wall Street Ends Higher as Fed Signals Bond-Buying Taper Soon
September 23, 2021
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NEW YORK—The three major U.S. stock indexes rose 1 percent on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the central bank to reduce its monthly bond purchases soon. The S&P 500 registered its biggest daily percentage gain since July 23. While trading was…
Microsoft Shares Edge Higher on $60 Billion Buyback Program
September 15, 2021
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Microsoft Corp. shares rose 1 percent in early trading on Wednesday after the company announced a $60 billion share repurchase plan, its biggest ever. The announcement comes just days after two U.S. Senate Democrats unveiled a proposal to tax corporate stock buybacks to help fund President Joe Biden’s $3.5 trillion investment plan. The senators said…
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