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Amazon, Microsoft, and Google are increasingly investing in nuclear energy to meet the rising electricity demands of AI technologies. Amazon has signed agreements to develop small modular reactors (SMRs) and purchase nuclear power, while Google has partnered with Kairos Power for a groundbreaking energy deal. Microsoft is reviving the Three Mile Island reactor.
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HSBC's new CEO, Georges Elhedery, has announced a significant restructuring plan, dividing the bank into four key units and establishing geographical divisions to enhance efficiency and navigate geopolitical tensions. The changes will take effect on January 1, 2025, and include the appointment of Pam Kaur as the first female CFO.
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Recent reports highlight a surge in illegal migration routes from Asia and Africa to the U.S., with organized crime playing a significant role. New U.S. policies and increased enforcement in Mexico have led to a notable decline in border arrests, raising concerns about the effectiveness of current immigration strategies.
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Standard Chartered has reported a 37% increase in underlying pre-tax profits for Q3 2024, reaching $1.81 billion. The bank has raised its full-year operating income growth forecast to nearly 10% and plans to double investments in its wealth management sector, while also restructuring its retail business.
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HSBC's pre-tax profits rose to $8.5 billion in Q3 2024, exceeding expectations. This comes as new CEO Georges Elhedery announced a major restructuring, reducing geographical units and potentially cutting senior roles to streamline operations. The bank also plans a $3 billion stock buyback, reflecting confidence in its strategy.
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Following Donald Trump's election victory, economic experts are reassessing potential impacts on U.S. and global economies. While some anticipate a larger stimulus package in China, others emphasize the need for structural reforms to enhance competitiveness amid ongoing U.S.-China tensions. The Federal Reserve remains cautious amid Trump's promises.