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Hong Kong HSBC shares leap 5% after third-quarter incomes beat estimates

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Hong Kong-recorded portions of HSBC flew on Tuesday after third-quarter benefits beat market desires.

Europe’s biggest bank by resources revealed benefit before assessment of $3.07 billion in the July-to-September quarter, 36% lower than the $4.84 billion recorded a year prior as it endeavors to recuperate from the monetary stun of the Covid pandemic.

The second from last quarter 2020 benefit was likewise in a way that is better than the $2.07 billion that experts had expected, as indicated by gauges incorporated by the bank.

Detailed income was $11.93 billion for the quarter, 11% lower than a year back.

The most recent arrangement of result recommends a lining of the credit cycle and the bank is “putting in place all of the building blocks we need to resume dividends,” HSBC’s Chief Financial Officer Ewen Stevenson told CNBC’s “Capital Connection” on Tuesday.

The bank, generally preferred by speculators for its consistent profits, has stopped such payouts as British controllers encouraged business loan specialists to protect capital.

Here are different features of the bank’s financial report card:

An extra $785 million was put aside in the second from last quarter for potential credit misfortunes, bringing arrangements for the initial nine months of 2020 to $7.64 billion. HSBC said all out arrangements for the year could be at the lower end of its $8 billion to $13 billion gauge;

Net intrigue edge, a proportion of credit benefit, was 1.2% in the quarter — down 13 premise focuses from the past quarter and 36 premise focuses lower than a year back;

Working costs declined by 1% contrasted and a year prior;

Basic value level 1 proportion was 15.6% contrasted and 15% in the past quarter.

HSBC partakes in Hong Kong hopped near 5% after the profit discharge.

Continuing profit payouts

As the standpoint lights up, HSBC said in its second from last quarter profit declaration that it will consider “whether to pay a conservative dividend for 2020.” A choice is normal in February 2021.

“We’re clearly not happy with the way the share prices perform this year. A big part of that has been the impact of Covid-19, the shift in interest rate outlook and the cutting of dividends,” Stevenson told CNBC.

“We do think today’s results (are) the first part of a journey in restoring confidence in the equity story of the bank and the share price. Paying dividends is a critical component of that,” he added.

The bank’s Hong Kong-recorded offers have plunged by 47% this year as of Friday, while its London-recorded offers jumped 45.7% over a similar period, information by Refinitiv appeared.

In a readied explanation, HSBC’s Chief Executive Noel Quinn said the outcomes were “promising” considering the “continuing impacts of Covid-19 on the global economy.”

Most noticeably awful may be finished

Before the profit discharge, Jackson Wong, resource the executives chief at Amber Hill Capital, said HSBC’s possibilities could begin to improve if Covid-19 cases far and wide don’t deteriorate.

“I think the worst probably could be over,” he told CNBC’s “Squawk Box Asia” on Tuesday.

“We haven’t seen a very bright future at this point so it could be (starting) to turn better, but it’s not very robust at this point yet,” he added.

HSBC’s money related outcomes follow that of other European banks, a considerable lot of which have beaten examiners’ desires.

A week ago, individual British moneylender Barclays announced second from last quarter net benefit that was more than twofold what experts had figure as the bank put in a safe spot less cash for possible terrible advances.

Matthew Ronald grew up in Chicago. His mother is a preschool teacher, and his father is a cartoonist. After high school Matthew attended college where he majored in early-childhood education and child psychology. After college he worked with special needs children in schools. He then decided to go into publishing, before becoming a writer himself, something he always had an interest in. More than that, he published number of news articles as a freelance author on apstersmedia.com.

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Figure AI in Talks for Major Investment, Targeting $39.5 Billion Valuation

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Figure AI in Talks for Major Investment, Targeting $39.5 Billion Valuation

Figure AI, a leading robotics startup specializing in humanoid robots, is reportedly in discussions to secure $1.5 billion in a new funding round. This investment, expected to be led by Parkway Venture Capital, could boost the company’s valuation to an impressive $39.5 billion.

Rapid growth of humanoid robotics


Founded in 2022 by Brett Adcock, Figure AI has quickly established itself as a key player in the humanoid robotics industry. Its advanced robots are designed to work alongside humans, handling dangerous and repetitive tasks while seamlessly integrating into various work environments.

The company’s innovative technology has attracted interest from multiple industries, including:

  • Manufacturing: automating production lines and reducing workplace risks.
  • Logistics: improving warehouse operations and supply chain efficiency.
  • Retail: improving customer service and store management.

Previous funding and key investors


In a previous funding round, Figure AI secured $675 million from several major tech giants including Microsoft, OpenAI, NVIDIA, and Amazon founder Jeff Bezos.

At the time, the company’s valuation was $2.6 billion, highlighting the growing demand for AI-powered robotics and automation.

Surge in AI and Robotics Investments


Figure AI’s growing valuation reflects the global expansion of AI and robotics investments.

The European Union recently announced a €200 billion AI investment initiative to keep pace with the United States and China.
🇫🇷 France has also secured €109 billion in funding commitments to boost its AI sector.

These investments highlight the growing importance of automation, robotics, and AI-powered solutions in the modern economy.

With continued expansion and innovation, Figure AI is positioning itself as a leader in humanoid robotics. If the latest round of funding is successful, the company will be able to:

  • Advance its robotic technology
  • Expand its market presence globally
  • Increase adoption of humanoid robots across multiple industries

    As AI-powered automation continues to evolve, Figure AI is on track to reshape the future of human-robot collaboration, making workplaces safer and more efficient.

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Zomato Evolves into Eternal: Redefining the Future of Digital Commerce

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Zomato Evolves into Eternal: Redefining the Future of Digital Commerce

Zomato, one of India’s leading food delivery and quick-commerce platforms, has officially rebranded as Eternal. The transformation reflects the company’s growing ambitions beyond food delivery, encompassing various business verticals, including grocery delivery, live events, and restaurant supplies. The rebranding marks a major shift in Zomato’s corporate identity, aligning with its vision of building businesses that last “beyond a lifetime.”

Why the Rebranding?

Founder and CEO Deepinder Goyal explained that the decision to rename the parent company was driven by the rapid growth of Blinkit, Zomato’s quick-commerce arm. Initially met with skepticism when Zomato acquired Blinkit in 2022, the business has since become a key driver of the company’s future.

“We thought of publicly renaming the company when something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are here,” Goyal stated.

What Changes Under Eternal?

The name Eternal will now serve as the parent brand for Zomato’s four major business units:

  1. Zomato – The core food delivery business.
  2. Blinkit – A quick-commerce service for grocery and essential deliveries.
  3. Hyperpure – A B2B platform supplying restaurants with kitchen essentials.
  4. Zomato Live (District) – A live events platform.

While the company’s corporate identity is changing, the Zomato app and branding for food delivery will remain the same. Customers will still order from the Zomato app, and Blinkit will continue to operate under its own branding.

Significance of the Name ‘Eternal’

The word Eternal symbolizes longevity and endurance, reinforcing the company’s ambition to build businesses that last beyond generations. This philosophy reflects Zomato’s long-term commitment to innovation and expansion in the digital commerce space.

Goyal had previously mentioned the Eternal name as an internal identity in 2022 but clarified that it would not replace the Zomato brand. However, with Blinkit’s massive growth and the company’s evolving focus, the name has now been publicly embraced.

Market Impact and Future Outlook

The rebranding positions Eternal as a diversified technology company rather than just a food delivery platform. The move comes at a time when quick-commerce is becoming a dominant force in India, with competitors like Swiggy Instamart, Reliance JioMart, Amazon Fresh, and Walmart-backed Flipkart entering the space.

Eternal’s strategy will likely focus on:

  • Expanding Blinkit’s footprint across India.
  • Strengthening its supply chain for Hyperpure.
  • Growing Zomato Live as a major player in the events space.
  • Continuing innovation in food delivery services.

The transition from Zomato to Eternal represents a bold step in the company’s journey, signaling a future beyond food delivery. With Blinkit’s rise, Zomato’s leadership in restaurant supplies, and its growing events business, the rebranding aligns with its ambition to create a multi-dimensional commerce platform.

As Eternal, the company aims to shape the future of digital commerce in India, staying true to its mission of building businesses that stand the test of time.

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U.S. AI Startups Eye New Opportunities Amid DeepSeek’s Rise

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U.S. AI Startups Eye New Opportunities Amid DeepSeek's Rise

Just last week, OpenAI was seen as the undisputed leader in artificial intelligence, with its cutting-edge models driving a soaring valuation. This week, however, its dominance is being questioned as Silicon Valley shifts its focus to a more cost-effective competitor: DeepSeek.

The Chinese company recently launched R1, a challenger to OpenAI’s o1 reasoning model. Early testers claim R1 matches o1’s capabilities while being significantly cheaper to operate. The announcement sent shockwaves through the market, triggering a massive stock sell-off on Monday that erased nearly $1 trillion in market value.

DeepSeek’s Disruptive Impact

Industry insiders believe DeepSeek’s approach could reshape the AI landscape. Unlike OpenAI, which focuses on Artificial General Intelligence (AGI) through increasingly complex models, DeepSeek emphasizes efficient, application-driven AI that is more accessible and cost-effective.

Roi Ginat, CEO of EndlessAI, sees this as a breakthrough for startups and smaller players.

“DeepSeek’s success represents a democratization of AI development, where smaller teams with limited resources can meaningfully compete with well-funded tech giants,” Ginat told Business Insider.

While OpenAI remains a major force, its role in the industry could shift. The competition between expansive, high-cost AI models and streamlined, purpose-built AI systems is fueling innovation on both fronts.

Cost Efficiency vs. AI Infrastructure Investments

DeepSeek’s biggest advantage is cost efficiency. If it truly reduces AI training and inference costs by tenfold, as some claim, it could accelerate AI adoption far beyond current analyst predictions. However, Pukar Hamal, CEO of SecurityPal, warns against expecting immediate disruptions.

“It’ll take more than a few tough earnings calls to make the biggest AI players reconsider the staggering GPU investments we’re seeing for 2025,” Hamal said.

Major tech firms are doubling down on AI infrastructure. Meta has committed $60 billion to AI investments, while former President Donald Trump recently announced Stargate, a $500 billion joint venture between OpenAI, Oracle, and SoftBank to expand AI capabilities across the U.S.

The Open-Source Debate: DeepSeek vs. OpenAI

A key distinction between OpenAI and DeepSeek lies in open-source accessibility. OpenAI keeps its models closed for safety and security reasons, while DeepSeek’s AI is open-source, allowing public access and modification.

Satya Nitta, CEO of Emergence AI, sees this as a significant advantage for DeepSeek.

“DeepSeek R1 broadens access to AI reasoning, highlights the power of open-source, and sets a new benchmark for AI capabilities,” he said.

However, open-source models also raise regulatory concerns. Hamal cautioned that unchecked AI development could lead to security risks, drawing parallels to the U.S. government’s scrutiny of TikTok. White House advisor David Sacks further fueled controversy by suggesting that DeepSeek may have trained its model using OpenAI’s data, a claim that could spark legal challenges.

Despite these concerns, Hamal believes the market is shifting toward openness.

“Openness typically wins in the long run. If DeepSeek forces a reset in the increasingly closed foundational model market, it could be a net positive—provided we maintain the right guardrails.”

AI Innovation: Doing More with Less

If there’s one major takeaway from DeepSeek’s rise, it’s that AI models can be developed more efficiently and affordably.

Matthew Putman, CEO of Nanotronics, sees this moment as a validation of a broader trend.

“To me, the competition itself is less significant than the realization that AI can be built at lower costs and applied beyond just large language models.”

As the AI landscape evolves, the battle between expensive, high-power AI and cost-efficient, open-source alternatives is only beginning. Whether DeepSeek emerges as a true OpenAI rival or simply pushes the industry toward greater accessibility, its impact is already undeniable.

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