All articles tagged with #tech dominance
A global watchdog has issued a warning about the increasing dominance of Big Tech companies and the high reliance on AI in finance, raising concerns over market control and regulatory challenges.
The article discusses the geopolitical race between the US and China over AI supremacy, highlighting how both Trump and Biden see AI as crucial to national security and economic dominance. It emphasizes China's rapid advancements and the US's strategies to counter them, including tariffs and diplomatic efforts, while warning of the risks associated with current policies and the potential for China to surpass the US in AI capabilities, which could threaten global and American dominance.
The profits of S&P 500 companies are estimated to have dropped 3.7% on average compared to a year ago, marking the second straight quarter of earnings declines for corporate America. Analysts predict a 7.3% profit slump for the April to June period, with the pinch from higher interest rates and wilting consumer demand extending into the third quarter of 2023. Margin pressures, bank headwinds, tech dominance, and China's support are among the key takeaways from the earnings season. Corporate share purchases are also waning as borrowing costs rise and cash reserves shrink.