Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.
Giving AI a Voice
According to Reuters, Meta Platforms [META] is set to announce that it has secured deals with celebrities including Judi Dench, John Cena and Awkwafina to voice its Meta artificial intelligence (AI) chatbot. Users will also be able to choose from other generic options. Meta is expected to reveal this feature during its annual Connect conference starting on Wednesday, and it will launch this week in English-speaking markets across Meta’s various apps.
Crypto: Getting Closer to the Mainstream?
Coinbase [COIN] and the US Securities and Exchange Commission (SEC) met in a federal appeals court in Philadelphia on Monday. Coinbase sued the SEC last year, seeking action on a 2022 petition for greater clarity regarding digital assets. Meanwhile, a correlation study shows that digital assets and US stocks are increasingly moving in sync, Bloomberg reported, suggesting macroeconomic factors influencing equities are also impacting the crypto market.
Top Finance Firm Expands Activity in India
JPMorgan Chase and Co [JPM] plans to continue expanding its operations in India, where investor confidence remains robust, according to top executives visiting the country. “There’s definitely been a flurry of activity that makes India a super exciting place to have a large team on the ground”, Filippo Gori, Co-Head of Global Banking, told Bloomberg TV on Tuesday, highlighting strong deal activity from both global and local clients, as well as Indian firms with international ambitions.
Easy as Pi
British microcomputer maker Raspberry Pi [RPI:L] reported stronger-than-expected profits in the first half of 2024, the Financial Times reported, in its first earnings since its June debut on the London Stock Exchange. The Cambridge-based company, which joined the FTSE 250 on Monday, posted a gross profit of $34.2m for the first six months of 2024, representing a 47% increase compared to the same period in 2023. It maintained its full-year outlook unchanged.
Visa in the Dock
The US Department of Justice is poised to file an antitrust lawsuit against Visa [V], alleging anti-competitive behavior. Federal prosecutors are expected to initiate the lawsuit imminently, following a lengthy review of Visa’s business practices. The investigation has focused on Visa’s debit card operations and competition among payment networks. Visa stated it is cooperating with the DOJ and maintains that its US debit practices comply with applicable laws.
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