The Daily Upside

Banking

Fed Majorly Backtracks on Proposed Bank-Capital Hike

Photo by Thomas Belknap via CC BY-SA 1.0

The proposal to hike holdings for the biggest lenders to buttress market shocks was sliced more than in half.

2 min read

Today’s Upside

Recent News

International Economics

With Dollar Reserves Running Out and Ratings Downgrades, Maldives Stares at a Crisis

Photo by Ishan @seefromthesky via CC0 1.0

Fitch Ratings downgraded the debt of the Maldives for the second time in just over two months, suggesting it’s likely to default on bonds.

1 min read
Artificial Intelligence

The US Government is Ready to Regulate AI

Photo by Jernej Furman via CC BY 2.0

The US Artificial Intelligence Safety Institute announced OpenAI and Anthropic agreed to allow it to test and evaluate new models for safety.

2 min read
Patent Drop

Nvidia Patent Reels In Data Centers’ Energy Usage as AI Chips Skyrocket

Photo via U.S. Patent and Trademark Office

The tech could signal that the company is reading the tea leaves on data center architecture.

2 min read
Patent Drop

Google Image Patent Highlights Potential of Consumer AI Tools

Photo via U.S. Patent and Trademark Office

As the company builds AI image editing tools, it may be seeking to normalize the tech for the average consumer.

2 min read
Patent Drop

Snap Patent Adds to AR Ad Bet as Meta Shuts Down Spark AR Studio

Photo via U.S. Patent and Trademark Office

Snap may want to use AR to help you redeem your next free coffee.

2 min read
Consumer

Lego Thrives Amid Higher Business Cost and a Slowing Toy Market

Image Credit: Lego.com

Danish company Lego reported generating $4.65 billion in revenue for the first half of 2024, up 13% from a year earlier.

1 min read
Technology

Nvidia Beats Revenue and Profit Expectations, But Was It Enough?

Photo via NVIDIA Media Assets.

Yesterday was Nvidia Day: The AI giant handily beat revenue and profit forecasts, and issued third-quarter guidance that beat expectations.

2 min read
Autos

China EVs Stay Strong Despite Domestic, International Headwinds

Photo by EEYAUT Waihung via CC BY-SA 4.0

A couple of China-based EV giants had good news to share in spite of a weakened consumer at home and fresh tariffs from the EU and Canada.

2 min read
FA Upside

Advisors Key in on Fixed Income Ahead of Interest Rate Cuts

Photo by Federal Reserve Board of Governors via Public Domain Mark 1.0

With the Fed primed to begin the next cutting cycle, advisors are looking for fresh places to park clients’ cash.

2 min read
FA Upside

Ether ETFs Struggle to Impress in Opening Act

Photo by Kanchanara via Unsplash

The funds that track the second-largest cryptocurrency were off to the races in late July, but have been stuck in the ether ever since.

2 min read
FA Upside

Why Women Have Less Money Saved for Retirement than Men

Photo by Mikhail Nilov via Pexels

While saving for retirement, women have less than a third the median assets as men and face unique challenges, according to a new survey.

2 min read
Private Equity

Private Equity Firms to Commit $12 Billion for NFL Team Stakes After League Vote

Photo by Sandro Schuh via Unsplash

As the price of franchises soar, shrinking the pool of would-be acquirers, NFL owners are rethinking their aversion to private equity.

2 min read
Big Tech

Google’s AI Energy Thirst Runs into a Problem in Ireland

Photo by Pawel Czerwinski via Unsplash

Google’s hopes for a new data center just outside Dublin were dashed this week when South Dublin County Council refused planning permission.

2 min read
Technology

Klarna Proves it Can Win Even With High Interest Rates

Photo by DealDrop via CC BY 2.0

Klarna, which is planning a US public debut as soon as early 2025, announced stellar first-half results for 2024.

2 min read
FA Upside

How Do Active ETFs Work?

Photo by Photo by Tima Miroshnichenko via Pexels

The number of active ETF launches in the US has outpaced passive ETF product launches every year since 2020.

4 min read
FA Upside

BlackRock Tops Grayscale for Digital Asset Dominance

Photo by David Tran via iStock

The shift highlights the growing footprint of traditional firms in the digital asset industry, and signals renewed confidence in crypto.

2 min read
Consumer

Economic Strains Starting to Hit Wealthier Americans, Survey Finds

Photo by Ashlyn Ciara via Unsplash

Mizuho found that both low- and high-income Americans alike are trying to get as thrifty as possible, reducing spend.

1 min read
Energy

Exxon Sees Oil Demand in 2050 Unchanged, Testing Net Zero Goals

Photo by Harrison Keely via CC BY 4.0

ExxonMobil forecast that oil demand will remain above 100 million barrels per day in 2050, roughly the same as current levels.

2 min read
Big Tech

IBM Shutters Its China R&D Division

Photo by Mark Ahsmann via CC BY-SA 3.0

IBM announced it would be shutting down its Chinese research and development team, shifting some operations to other locations.

2 min read
FA Upside

Nobel Heir Invests in US Wealth Manager

Photo by Osama Shukir Muhammed Amin FRCP(Glasg) via CC BY-SA 4.0

Peter Nobel is among a group of investors partnering with the wealth manager Cardea to create a rebranded firm Fourcore Capital.

2 min read