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August 24th - According to Business Insider, the next blockbuster acquisition in the AI industry may not come from yet another model developer. AI model aggregation platform Hugging Face is currently exploring a sale, with a potential deal valuing the company at $13 billion or higher. Sources familiar with the matter revealed that the startup is working with a bank to gauge the interest of potential bidders, but no deal has yet been finalized.On August 24, the Russian Ministry of Defense announced that between 8:00 a.m. and 8:00 p.m. Moscow time, Russian air defense forces intercepted and shot down 269 Ukrainian drones in multiple locations across Russia, including Arkhangelsk, Belgorod, Bryansk and the Moscow region.According to Business Insider, the open-source AI community Hugging Face is currently receiving multiple acquisition offers, with a potential deal value of $13 billion.On August 24, Irans Persian Gulf Straits Authority announced that any vessel violating Iranian regulations while transiting the Strait of Hormuz will face restrictions including fines, impoundment, or confiscation in subsequent passages. The agency requires cargo owners at their destination or origin in the Persian Gulf to check its website for the latest list of violating vessels before chartering them. Furthermore, vessels cooperating with those on this list through ship-to-ship transshipment, transshipment, or other means, effective immediately, will also be added to the list of violators.Irans Supreme National Security Council Secretary Rezaei stated: "If the economic war continues, not a single drop of oil will be exported from the Strait of Hormuz or anywhere else in the Persian Gulf. Iran will consider any countrys participation in or support of the US-led economic war against the Iranian people as an act of war."

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.

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