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☆ Bank of America names 3 ETFs and a handful of stocks that will benefit from AI
▼ + stars: | 2024-08-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America has identified several stocks and exchange-traded funds (ETFs) poised to benefit from the growth in artificial intelligence. The Wall Street bank surveyed its fundamental equity team of 130 analysts, covering approximately 3,400 companies, to identify the companies that stand to gain from AI across various sectors. The bank believes the development of AI is the third major tech cycle over the past five decades. The earlier cycles are the growth of the internet and mobile phone devices. "Despite AI capital expenditure potentially reaching [$1 trillion plus] in the near term, we're only in 1996 relative to the internet," said Bank of America analysts led by Alkesh Shah, who compiled the stock picks, on Aug 5.

Persons: Alkesh Shah, — CNBC's Michael Bloom Organizations: of America, Budweiser, Anheuser, Busch InBev, ASM International, SAP Locations: U.S, Orange, British

☆ Morgan Stanley says these 3 global stocks will be 'winners' in a world where data is king
▼ + stars: | 2023-10-12 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

The analysts see Relx and Wolters Kluwer benefiting from "clear opportunities" from generative artificial intelligence. Relx and Wolters Kluwer The bank raised its forecasts for Relx and Wolters Kluwer, giving both an overweight rating. Its price target for Wolters Kluwer is 142 euros ($150.59), or around 18% upside. They like Wolters Kluwer for its software business, which generates around 45% of its revenue. Morgan Stanley has a price target of £790 on the company – giving it an 8.5% upside from its Oct. 10 close.

Persons: Morgan Stanley, George Webb, Wolters, Relx, Morgan, — CNBC's Michael Bloom Organizations: Wolters Kluwer, Relx, Nasdaq, REL, Relx's, LexisNexis Locations: Europe, WKL

☆ UBS names the stocks that will drag the European indexes down 10% this year
▼ + stars: | 2023-08-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

UBS has identified stocks at risk of dragging one of Europe's largest equities indexes lower by 10% by the end of this year. In addition, it said the consensus estimate of 11.9x for the forward price-to-earnings ratio is "too high" — another reason for stocks to fall. UBS screened for stocks with high volatility, negative earnings revisions already underway, and valuation multiples not yet in the single digits. The above table includes top performers in 2023 so far that may be both overcrowded and expensive, like luxury and semiconductor stocks, according to UBS. UBS also screened for more defensive, less volatile stocks that score well on its framework.

Persons: Gerry Fowler, — CNBC's Michael Bloom Organizations: UBS, Stocks, ASML, Siemens, Airbus, AstraZeneca, Novartis, Unilever, Iberdrola Locations: Europe, Swiss

☆ Relx, the owner of LexisNexis, tries to keep the AI bots from plundering its valuable legal data
▼ + stars: | 2023-08-10 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

The generative AI boom has sparked a race to collect data for model training. Relx, the owner of LexisNexis, recently warned customers about sharing its legal data with AI bots. I reached out to Relx and a LexisNexis spokespeople to ask whether LexisNexis has seen its legal data being scraped by bots or otherwise collected by outside companies for use in AI model training. Another AI legal startup called Casetext was recently acquired for $650 million by Thomson Reuters, the owner of Westlaw, an established legal data service that competes with LexisNexis. This offering uses AI models trained on the company's exclusive legal content, according to LexisNexis.

Persons: That's, Sean Fitzpatrick, Julie Chapman, LexisNexis spokespeople, Relx Organizations: LexisNexis, Elsevier, Ireland, Thomson Reuters Locations: North America, Sequoia

McKinsey says generative AI could add $7.3 trillion in value to the world economy each year and believes half of today's work activities could be automated between 2030 and 2060. The latest Bank of America survey in June showed 29% of global investors don't expect AI to increase profits or jobs. "There's a lot of focus on the risks that generative AI can bring. He sounded confident over the capacity of some professional information and data providers, which own proprietary data, to integrate generative AI into their products. Cristina Matti, small and midcaps portfolio manager at Amundi, said indiscriminate investing was not an option for investors seeking AI exposure.

Persons: Gilles Guibout, UK's Pearson, Chegg, Pearson, Thomas McGarrity, Andrea Scauri, Scauri, Capgemini, Cristina Matti, Danilo Masoni, Lucy Raitano, Chizu Organizations: Nvidia, McKinsey, AXA Investment, Bank of America, Microsoft, RBC Wealth Management, Accenture, Thomson Locations: MILAN, Europe, United States, Paris, Lemanik, Amundi

☆ Mattel Experiments With ChatGPT in Cybersecurity
▼ + stars: | 2023-06-08 | by ( Catherine Stupp | ) www.wsj.com time to read: +3 min

Toy maker Mattel is experimenting with generative-artificial-intelligence tools including ChatGPT to help its cybersecurity teams, but the company’s head of cybersecurity said the risk of inaccurate results from the new technology is too great to deploy it broadly. But many results from queries to the AI tools are incorrect, even if they appear convincing, he said. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. All Mattel employees using ChatGPT are receiving training on how to use generative AI tools securely, he said. German e-commerce giant Zalando plans to offer a shopping assistant using ChatGPT.

Persons: cybersecurity, Tom Le, ” Le, OpenAI, Mattel’s Le, Ilia Kolochenko, ”, Goldman Sachs, Le, Catherine Stupp Organizations: Mattel, Training, Employees, JPMorgan, Verizon, Commonwealth Bank of Australia

☆ Lawmakers press companies that collect U.S. consumer data to reveal how they buy and sell it
▼ + stars: | 2023-05-10 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In the letters, 10 lawmakers asked the companies for detailed responses on the types of sensitive information they gather, such as health, location and phone data, including apps consumers download to their devices. The companies were also asked what information they collect on minors. Last month, the subcommittee on oversight and investigations held a hearing with expert witnesses to examine "the role of data brokers in the digital economy." In that report, the regulator recommended that Congress force brokers to give consumers greater control over their data, but the "data brokers can easily circumvent existing rules and laws," the letter said. Here's the full list of data brokers who received the letter::AcxiomAtDataBabel StreetCoreLogic SolutionsEpsilon Data ManagementEquifaxExperianGravy AnalyticsInteliusKochavaLiveRampMylifeOracle AmericaPeopleConnectPlacer.aiRELXSafegraphSpokeoThomson ReutersTransUnionVerisk AnalyticsWhitepagesSubscribe to CNBC on YouTube.

☆ Privacy Regulators Step Up Oversight of AI Use in Europe
▼ + stars: | 2023-02-16 | by ( Catherine Stupp | ) www.wsj.com time to read: +6 min

European privacy regulators are intensifying their scrutiny of companies’ use of artificial intelligence, hiring experts and opening new units to crack down on data violations. “AI is appearing in all sectors,” said Kari Laumann, head of a division for research, analysis and policy at Norway’s data protection authority. The regulator’s office has worked with 64 companies to test AI initiatives under its supervision, in a program started in 2020. Regulators have fined companies for privacy failings in their AI applications in recent years, but European data protection officials and privacy analysts say it is still unclear how to apply some aspects of European privacy law to the technology. Mr. Jairaj said he expects the EU’s coming legislation to force companies to look closely at third-party suppliers of AI products.

☆ Relx sees AI driving growth as shares hit new high
▼ + stars: | 2023-02-16 | by ( Paul Sandle | ) www.reuters.com time to read: +1 min

LONDON, Feb 16 (Reuters) - Information and analytics firm Relx (REL.L) said it was using generative AI to supercharge its legal, health and science products as it forecast another year of strong growth in 2023, sending its shares to an all-time high. "Momentum remains strong across the group and we expect underlying growth rates and revenue and adjusted operating profit to remain above historical trends," he told reporters. Shares in Relx, which have risen 8% in the last 12 months, hit a record 2,551 pence on Thursday. Luff said generative AI was an opportunity rather than a threat, and Relx was already building it into products. ($1 = 0.8290 pounds)Reporting by Paul Sandle; editing by Jason Neely and William JamesOur Standards: The Thomson Reuters Trust Principles.

☆ FTSE 100 at record high on positive Centrica, StanChart earnings
▼ + stars: | 2023-02-16 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 hits record high, trading above 8,000 pointsCentrica, StanChart, Relx jump on upbeat resultsVodafone rises on report of looking at options for Africa unitFTSE 100 up 0.3%, FTSE 250 adds 0.4%Feb 16 (Reuters) - UK's FTSE 100 rose to a record high on Thursday, underpinned by corporate earnings from Centrica and Standard Chartered, while higher commodity prices drove up heavyweight miners. The blue-chip FTSE 100 (.FTSE) gained 0.3%, trading comfortably above the 8,000-point mark it had breached in the previous session. The exporter-heavy FTSE has had a stellar start to the year as positive corporate earnings and rising commodity prices supported the index. Shares of Centrica (CNA.L) jumped to top the FTSE 100, adding 4.2%, after the British gas owner's annual profit more than tripled and as it announced an extension of its share buyback programme. Standard Chartered (STAN.L) rose 1.8% after the lender reported a 28% rise in annual pretax profit and unveiled a $1 billion share buyback programme.

Adjusted earnings per share came in at 57 cents, 7 cents ahead of estimates. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones, and Wolters Kluwer (WLSNc.AS). Thomson Reuters holds a minority stake in the LSE, worth about $6.3 billion as of Friday. Thomson Reuters will be "quite a bit more aggressive in the next few quarters in looking at acquisitions," he said. Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The Toronto-based company recorded $1.57 billion in sales during the quarter, up 3%, slightly below expectations of $1.59 billion. Adjusted earnings per share came in at 57 cents, 7 cents ahead of analyst estimates. But it noted that 2023 margins were trending towards the lower end of the 39%-40% range amid heightened inflation and investments. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones and Wolters Kluwer (WLSNc.AS). Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ China to impose consumption tax on e-cigarettes from November
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Oct 25 (Reuters) - China's Ministry of Finance will impose a consumption tax on e-cigarettes from Nov. 1, according to a notice published on Tuesday. A tax rate of 36% will be placed on the production or import of e-cigarettes, while an 11% tax will be placed on the wholesale distribution of e-cigarettes. The taxation policy will further entrench China's once-scattered e-cigarette industry into the state-backed tobacco monopoly, a major generator of tax revenue. Tobacco products remain a major revenue generator for Beijing, with cigarette sales generating roughly 5% of the central government's tax revenue each year. China Tobacco, STMA's commercial arm, is a shareholder in China's state-backed investment fund for the chip industry.

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