Finance

Bank of America, the second-largest U.S. bank by assets, has topped expectations for earnings per share for 23 consecutive quarters.

Hermes said wholesale activity was “significantly affected” in the first quarter by lower sales to concession stores, particularly in the Middle East and in airports.

Ride-hailing company Didi plans to begin its first overseas robotaxi test in the United Arab Emirates later this year.

The White House has been signaling a diplomatic solution to the conflict in the Middle East, as discussions around continuing negotiations with Tehran are underway.

The investment bank said volumes will reach an estimated $240 billion in 2026 and grow at a 80% compound annual rate between 2025 and 2030.

The remarks show how a technology welcomed by corporations as a productivity boon can also pose serious threats, like uncovering new ways to hack into systems.

“It probably won’t surprise anyone that we are again putting capital preservation at the top of our priorities,” Einhorn said in his latest investor letter.

Panelists at the Semafor World Economy conference said artificial intelligence can supplement the work that’s already done, improving its quantity and quality.

CNBC’s Robert Frank reports the latest on Blackstone.

A prolonged blockage of the Strait of Hormuz for the next six to 12 months will mean an unavoidable recession, the billionaire investor said.