India’s rupee advanced the most in Asia on Thursday as the central bank stepped in to defend the currency, which fell to a record low the day before. The currency gained as much as 0.7% to 91.5112 per dollar after the Reserve Bank of India sold the greenback in both offshore and onshore markets, according to people familiar with the developments. Read: Indonesia, India Support Local Currencies as ...
India’s rupee advanced the most in Asia on Thursday as the central bank stepped in to defend the currency, which fell to a record low the day before. The currency gained as much as 0.7% to 91.5112 per dollar after the Reserve Bank of India sold the greenback in both offshore and onshore markets, according to people familiar with the developments. Read: Indonesia, India Support Local Currencies as Iran War Hits EMs
Key Points Adobe recently reported record quarterly revenue of $6.2 billion, up more than 10% year over year. The company has been spending massive sums on share repurchases recently. The stock's valuation is looking downright cheap. 10 stocks we like better than Adobe › Shares of Adobe (NASDAQ: ADBE) tumbled immediately following the company's fourth-quarter earnings release in December, contribu...
Key Points Adobe recently reported record quarterly revenue of $6.2 billion, up more than 10% year over year. The company has been spending massive sums on share repurchases recently. The stock's valuation is looking downright cheap. 10 stocks we like better than Adobe › Shares of Adobe (NASDAQ: ADBE) tumbled immediately following the company's fourth-quarter earnings release in December, contributing to a massive 38% decline over the past 12 months. Yet the company is actually doing quite well. Its fiscal fourth-quarter update featured 10.5% year-over-year revenue growth and record cash flow from operations. Even more, the company continued repurchasing its shares in droves, suggesting management thinks its shares are undervalued. Still, investors are increasingly concerned that the proliferation of generative artificial intelligence (AI) will cannibalize the company's legacy design tools. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Ahead of Adobe's earnings report next week, it's a good time to take a look at the stock. With shares down sharply over the last 12 months, is now a good time to buy? Adobe's underlying business remains strong Overall, Adobe's fourth quarter was exceptional. The company reported a 10.5% year-over-year increase in revenue, putting its top line at $6.2 billion. This capped off a robust fiscal 2025, with total revenue expanding 11% to $23.8 billion. Key to the company's business, of course, is its subscription revenue from creative software, including photo- and video-editing, document design, and more. Adobe exited the fiscal year with its digital media annualized recurring revenue (ARR) -- the annualized value of active subscription contracts -- near $19.2 billion, up 11.5% year over year. Contrary to investor fears, generative AI is currently acting as a catalyst ...
Chinese overcapacity in steelmaking and oil refining is once again in the government’s crosshairs. Economic planners singled out the two sectors at the opening of the National People’s Congress on Thursday with promises of orderly reductions in capacity, having made similar pledges at the 2025 meeting with mixed results. China’s softer GDP target this year might suggest there’s leeway to make more...
Chinese overcapacity in steelmaking and oil refining is once again in the government’s crosshairs. Economic planners singled out the two sectors at the opening of the National People’s Congress on Thursday with promises of orderly reductions in capacity, having made similar pledges at the 2025 meeting with mixed results. China’s softer GDP target this year might suggest there’s leeway to make more decisive cuts. Although steel output last year dropped below 1 billion tons for the first time since 2019, analysts have questioned the accuracy of the official figures. Oil refiners, meanwhile, churned through more barrels than ever. Both industries are struggling to accommodate the turn in the Chinese economy away from investment led by property and public works toward greener, higher-tech growth. Parsing the language used this year, the stance on steel capacity “is marginally stricter,” said He Jianhui, an analyst at SDIC Futures Co. “But it still depends on how the policy will be implemented on the ground.” For oil, Beijing clearly wants to stay on track with its program of raising petrochemicals output at the expense of refining diesel and gasoline, said Liao Na, founder of GL Consulting. But the short-term is complicated by the war in Iran and other geopolitical concerns, which means keeping fuel stockpiles elevated. The longstanding effort to deal with excessive industrial production shifted into higher gear in July with the launch of the government’s anti-involution campaign. But planners avoided hard targets, relying instead on policy signaling and regulatory fixes that would take time to play out. Those included tougher rules on adding or maintaining capacity rather than ordering up sweeping cuts, a reflection of competing goals to support employment and regional economies.
Japan’s 30-year government bond auction Thursday saw demand that was stronger than the 12-month average, as investor appetite remained robust despite escalating tensions in the Middle East. The bid-to-cover ratio was 3.66, compared with 3.64 at the previous sale, and a 12-month average of 3.34. The tail, or gap between average and lowest-accepted prices, was 0.12, compared with 0.11 last month. Tr...
Japan’s 30-year government bond auction Thursday saw demand that was stronger than the 12-month average, as investor appetite remained robust despite escalating tensions in the Middle East. The bid-to-cover ratio was 3.66, compared with 3.64 at the previous sale, and a 12-month average of 3.34. The tail, or gap between average and lowest-accepted prices, was 0.12, compared with 0.11 last month. Traders are gauging the inflationary impact from rising oil prices tied to the conflict in Iran, a particular concern for Japan as a major net energy importer. Persistent yen weakness is compounding the risk as it pushes up import costs. A sale of 10-year government bonds earlier this week passed smoothly , though it failed to lift the broader market. The 30-year yield remains elevated and was last trading around 3.4%. It remains to be seen how Middle East tensions will feed into the Bank of Japan’s policy path and Prime Minister Sanae Takaichi’s fiscal agenda. Higher energy costs could renew pressure for additional support measures if household purchasing power comes under strain. Governor Kazuo Ueda on Wednesday warned that the Middle East conflict could have a significant impact on Japan’s economy, reinforcing expectations that the central bank may keep policy steady when it meets later this month. Overnight index swaps imply roughly a 60% probability of a rate hike by April, with a 25-basis-point increase fully priced in by July.
Torsten Asmus/iStock via Getty Images Market review The US municipal bond market recorded positive returns for 4Q25, driven primarily by strong performance in October. The US economy showed signs of slowing, as it had in previous quarters, resulting in monetary easing. Additionally, political uncertainty and fiscal policy influenced the market. The municipal market contended with a technical headw...
Torsten Asmus/iStock via Getty Images Market review The US municipal bond market recorded positive returns for 4Q25, driven primarily by strong performance in October. The US economy showed signs of slowing, as it had in previous quarters, resulting in monetary easing. Additionally, political uncertainty and fiscal policy influenced the market. The municipal market contended with a technical headwind of heavy issuance, which was a theme all year. Demand was strong, however, as municipal mutual funds experienced inflows. The Bloomberg Municipal Bond Index returned 1.56%. The intermediate segment of the yield curve outperformed while the investment grade segment outperformed high yield segments. Increased trade tensions between the US and China, giving way to a truce, marked the beginning of the last quarter of 2025. Economic indicators continued to show resilience with 3Q gross domestic product ('GDP') growth tracking close to 3.5%, maintaining the pace of 2Q (based on the Atlanta Federal Reserve's GDPNow forecast). Government fiscal deficits and artificial intelligence ('AI') spending remained tailwinds. Investors mostly shrugged off the US government shutdown during the quarter, viewing it as unlikely to significantly impact growth. The lack of important data releases was the larger concern. Labor markets showed some softness with the unemployment rate rising to 4.6%, while inflation appears to be moderating with November's Consumer Price Index ('CPI') reported at 2.7% versus an expected 3.1%. However, the impact of the government shutdown on data quality was visible with some parts of the CPI report in particular reflecting missing October data. The reported disinflation, while welcome, will need to hold up in coming months before the US Federal Reserve (Fed) and investors are convinced that further easing is likely. The economy and the markets were also supported by policy stimulus – deficit spending and Fed easing. The fiscal impulse is widely expected to contin...
March 4 (Reuters) - Artificial intelligence startup OpenAI topped $25 billion in annualized revenue as of the end of last month, The Information reported on Wednesday, citing a person familiar with the figure. This is a 17% increase from the $21.4 billion in annualized revenue that the company generated at the end of the year, the report said. Reuters could not verify the report. OpenAI did no...
March 4 (Reuters) - Artificial intelligence startup OpenAI topped $25 billion in annualized revenue as of the end of last month, The Information reported on Wednesday, citing a person familiar with the figure. This is a 17% increase from the $21.4 billion in annualized revenue that the company generated at the end of the year, the report said. Reuters could not verify the report. OpenAI did not immediately respond to a request for comment. OpenAI is expanding into the enterprise market by teaming up with four of the world’s largest consulting firms, betting that a more hands-on approach will help corporate clients move beyond pilot projects to full-scale AI deployments. In the enterprise race, OpenAI faces competition from rivals such as Anthropic and giants like Google that are selling AI capabilities to enterprises. Since late 2022, OpenAI has gone from effectively zero revenue to more than $20 billion in annualized revenue in 2025. Its rival Anthropic has followed a similar trajectory, climbing to roughly $9 billion in annualized revenue. OpenAI is targeting roughly $600 billion in total compute spending through 2030, as the ChatGPT maker lays the groundwork for an IPO that could value it at up to $1 trillion. (Reporting by Preetika Parashuraman in Bengaluru; Editing by Mrigank Dhaniwala and Sonia Cheema)
Add Decrypt as your preferred source to see more of our stories on Google. In brief Seven major tech companies signed a White House pledge to pay for energy tied to AI data centers. Companies agreed to build or buy a new electricity supply and fund grid upgrades for their facilities. The move comes amid growing concern that AI infrastructure could strain power grids and raise energy costs. Seven o...
Add Decrypt as your preferred source to see more of our stories on Google. In brief Seven major tech companies signed a White House pledge to pay for energy tied to AI data centers. Companies agreed to build or buy a new electricity supply and fund grid upgrades for their facilities. The move comes amid growing concern that AI infrastructure could strain power grids and raise energy costs. Seven of the leading companies behind the AI boom have agreed to pay for the electricity it requires. On Wednesday, Amazon, Google, Meta, Microsoft, OpenAI, Oracle, and xAI signed the White House’s Ratepayer Protection Pledge, committing to cover the cost of electricity generation and grid upgrades needed to power new AI data centers. During a press conference at the White House, President Donald Trump said the agreement is intended to prevent AI infrastructure from raising electricity costs for households and address concerns that expanding AI infrastructure could increase power costs. “First, these companies are committing to provide or pay for all power generation and electricity needed for their AI projects,” Trump said. “Second, they'll cover the costs of upgrading existing power delivery infrastructure.” The pledge comes as local opposition to new AI data centers grows across the U.S. over concerns about electricity demand, water use, and the public costs of expanding the infrastructure needed to power them. While Trump did not link the pledge to the ongoing conflict in the Middle East, it comes as global energy markets tighten following U.S. strikes on Iran, which controls the Strait of Hormuz, a major shipping route for global oil supplies. Rising oil prices have renewed attention on energy affordability as electricity demand grows alongside AI development. Under the Ratepayer Protection Pledge, companies must build, bring, or buy the electricity needed for their AI data centers, pay for transmission lines, substations, and other grid upgrades, and cover those costs whet...
The US-Israel war on Iran has entered a sixth day, with US forces reportedly ready to provide air support to Kurdish fighters if they enter the conflict. Kurdish officials told the Associated Press that Kurdish Iranian dissident groups based in northern Iraq were preparing for a potential cross-border military operation in Iran, and the US has asked Iraqi Kurds to support them. Intense waves of ai...
The US-Israel war on Iran has entered a sixth day, with US forces reportedly ready to provide air support to Kurdish fighters if they enter the conflict. Kurdish officials told the Associated Press that Kurdish Iranian dissident groups based in northern Iraq were preparing for a potential cross-border military operation in Iran, and the US has asked Iraqi Kurds to support them. Intense waves of airstrikes have hit dozens of military positions, frontier posts and police stations along northern parts of Iran’s border with Iraq in what appears to be preparation by US and Israel for a new front in their war. Experts predicted that backing armed groups from Iran’s ethnic communities would “open up a hornet’s nest”, aggravating divisions within the diverse country and increasing the risk of a chaotic civil war if the current regime collapses. Mojtaba Khamenei, the second son of the assassinated Ali Khamenei, is being heavily tipped to succeed his father as supreme leader of Iran, which would pitch a hardliner into the task of steering the Islamic republic through the most turbulent period in its 48-year history and offer a powerful signal that, for now, it has no intention of changing course. A torpedo fired by a US submarine sank an Iranian warship off the south coast of Sri Lanka. At least 87 Iranian sailors were killed in the attack on the Iris Dena on Wednesday. The frigate was sailing in international waters as it returned from a naval exercise organised by India in the Bay of Bengal. The torpedo strike prompted questions from former US officials about whether Washington’s aim of eliminating all of Iran’s military breached international law. Iran launched missiles at Israel early Thursday. Air sirens sounded in Tel Aviv and Jerusalem shortly after the Israeli military said it had begun new strikes in Lebanon targeting the Iranian-backed Hezbollah militant group in Beirut’s southern suburbs. Air traffic appeared to be picking up slightly, even as travel across the reg...