) in a $6.4 billion deal. Elsewhere, the U.S. economy is expected to have slowed in the opening three months of 2024, but remain resilient in the face of high interest rates and persistent inflationary pressures.Stock futures in New York pointed lower on Thursday, as investors assessed earnings from big-name technology companies and looked ahead to a fresh U.S. economic growth reading.
In a call with analysts, Chief Executive Mark Zuckerberg, who previously backed strict cost-cutting measures throughout much of 2023, said that the increased investments were needed to help Meta become "the leading AI company in the world." Meanwhile, IBM also said it would buy HashiCorp for $35 per share in cash, as the company looks to take advantage of an AI-fuelled boom in demand for cloud software products. The acquisition price represents a 42.6% premium to the closing price of HashiCorp's shares on Monday.4. U.S. economic growth seen slowing in first quarter - forecasts
According to Reuters, economists have argued that American consumers moved to secure lower mortgage payments and businesses locked in refinanced debt prior to the tightening cycle, helping insulate themselves from higher rates. Firms, wary of losing workers after a period of labor shortages before and after the COVID-19 pandemic, have also been more reticent to let go of employees.
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