Railroad operator Norfolk Southern's quarterly profit rises
The East Coast railroad operator's quarterly profit rose to $3.29 per share, from $3.06 per share a year earlier.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Telegraph
6 minutes ago
- Telegraph
AI researcher ‘turns down $1bn pay offer from Mark Zuckerberg'
A tech worker has reportedly turned down a $1bn (£750m) pay deal to join Mark Zuckerberg's artificial intelligence (AI) unit amid an escalating war for talent in Silicon Valley. Mr Zuckerberg's Meta reportedly offered several researchers who work at Thinking Machines, a San Francisco-based AI start-up, packages worth hundreds of millions of dollars to join the social media giant. One of those packages would have been worth as much as $1bn over several years, according to a report from Wired, while some researchers were also offered between $200m and $500m over a four-year period. Most deals included an award worth $50m to $100m in the first year. So far, no staff at the start-up have taken up an offer from Meta. Last month, Thinking Machines raised $2bn at a $12bn valuation, despite having no product. A spokesman for Meta disputed the claims, although confirmed it had made a 'handful' of offers to staff at Thinking Machines. 'We made offers only to a handful of people at Thinking Machines and while there was one sizeable offer, the details are off,' the spokesman said. Thinking Machines was founded by 36-year-old Mira Murati, a former OpenAI executive who has become one of the powerful women in tech since launching the company. AI arms race The eye-watering pay offers come amid an AI arms race, with tech giants trying to tempt leading AI scientists and programmers to join their efforts over those of rivals. Sam Altman, the chief executive of OpenAI which owns ChatGPT, previously claimed Meta had offered his staff deals worth as much as $100m. Mr Zuckerberg has been personally leading a recruitment drive to attract leading scientists and developers to a new lab within Meta in a race against rivals to build highly powerful AI tools. The Meta chief executive has reportedly been reaching out to dozens of targets with personalised WhatsApp messages and bumper pay deals. Meta is spending tens of billions of dollars on AI data centres that will be used to help create more powerful machine-learning tools that Mr Zuckerberg has claimed could soon transform the economy and society. He has also already recruited around 50 leading researchers and experts for a new 'superintelligence' lab within Meta, after growing frustrated at the lack of progress by his own engineers. Earlier this year, Meta delayed a major update to its AI technology, dubbed Behemoth. Mr Zuckerberg also engineered a $14.3bn deal to poach Alexandr Wang, the founder of AI business Scale AI, to lead his new team, acquiring a 49pc stake in the start-up in the process.
Reuters
6 minutes ago
- Reuters
Insurer Humana raises annual profit forecast as medical costs stabilize
July 30 (Reuters) - Humana (HUM.N), opens new tab raised its annual profit forecast on Wednesday, as the U.S. health insurer bets on its efforts to rein in higher medical costs that have plagued the sector, sending its shares up nearly 5% in premarket trading. The company is a top provider of Medicare Advantage plans under which the U.S. government pays private insurers a set rate to manage healthcare for people aged 65 and older, and those with disabilities. The industry has been battling with persistently high costs for the last two years due to increased use of healthcare services across government-backed plans. However, Humana said its medical costs were in line with its expectations. "We feel good about our solid performance in the first half of the year," CEO Jim Rechtin said in a statement. It reported a quarterly medical cost ratio - the percentage of premiums spent on medical care- of 89.7%, up from 88.9% a year earlier, but in line with analysts' estimates of 89.71%. The company said its quarterly performance was partly driven by better-than-expected membership in its individual Medicare Advantage (MA) plans, as well as strength in its primary care segment CenterWell. Humana expects membership decline in its MA plans to be lower than previously anticipated and said it remains confident that its insurance pricing will drive margin improvement. The company on Wednesday projected full-year profit to be about $17 per share, compared with its previous estimate of about $16.25. Analysts on average were expecting a profit of $16.38 per share, as per data compiled by LSEG. For the quarter, Humana earned a profit of $6.27 per share, compared to estimates of $5.92.
Reuters
6 minutes ago
- Reuters
Indian airline IndiGo posts lower first-quarter profit as forex losses widen
July 30 (Reuters) - IndiGo airline operator Interglobe Aviation ( opens new tab reported a drop in first-quarter profit on Wednesday, hurt by higher costs as foreign exchange losses ballooned. India's biggest airline by market share reported a profit of 21.61 billion rupees ($247.2 million) for April-June period, down from 27.27 billion rupees a year ago. ($1 = 87.4230 Indian rupees)
