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☆ Microsoft CEO says Sam Altman will be joining Microsoft
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Carlos Barria Acquire Licensing RightsCompanies Microsoft Corp FollowNov 20 (Reuters) - Microsoft CEO Satya Nadella on Monday said that ousted OpenAI CEO Sam Altman and Greg Brockman will be joining Microsoft (MSFT.O) to lead a new advanced AI research team. Nadella also appeared to confirm Emmett Shear's reported appointment as the new OpenAI CEO, saying they are "looking forward to getting to know Emmett Shear and OAI's new leadership team and working with them." Reporting by Shubham Kalia in Bengaluru, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Altman, Carlos Barria, Satya Nadella, Greg Brockman, Nadella, Emmett Shear's, Emmett Shear, Shubham, Louise Heavens Organizations: Economic Cooperation, REUTERS, Microsoft, Thomson Locations: Asia, San Francisco , California, U.S, Bengaluru

Companies Microsoft Corp FollowOpenai LLC FollowNov 20 (Reuters) - Sam Altman will not return as the CEO of OpenAI and ex-Twitch boss Emmett Shear will become the new interim boss, The Information reported on Sunday, citing board director Ilya Sutskever's statement to the company's staff. The report said distraught employees "streamed out" of OpenAI headquarters in San Francisco shortly after the decision was announced internally. [1/2]Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. The appointment of Shear also means that Murati will not stay as the interim CEO, the report said. If Altman returns to OpenAI, Microsoft (MSFT.O), its biggest backer, is considering taking a role on the board, the Information reported on Sunday, citing two people familiar with the talks.

Persons: Sam Altman, Emmett Shear, Ilya Sutskever's, Altman, Sutskever, OpenAI, Amir Cohen, Rights Altman, Greg Brockman, Mira Murati, Shear, Brockman, Szymon Sidor, Sidor, Urvi Dugar, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes Organizations: Microsoft, Reuters, Tel Aviv University, REUTERS, Rights, Sunday, Amazon.com Inc, OpenAI, Thomson Locations: San Francisco, Tel Aviv, Israel, Bengaluru, New York

☆ Djokovic eyes 'Golden Slam' in 2024
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

Djokovic, who won his seventh ATP Finals on Sunday with a straight set win over Jannik Sinner, missed out on Grand Slam this year after losing to Carlos Alcaraz in the Wimbledon final. Steffi Graf is the only player to have achieved the 'Golden Slam', winning the Australian, French and U.S. Opens, Wimbledon and a gold medal at the Seoul Olympics in 1988. "Well, you can win four slams and an Olympic gold," Djokovic said. The 24-times Grand Slam winner said he was "very, very proud" of his season.

Persons: Pala Alpitour, Serbia's Novak Djokovic, Italy's Jannik, Guglielmo Mangiapane, Novak Djokovic, Djokovic, Carlos Alcaraz, Steffi Graf, That's, I've, Chiranjit, Peter Rutherford Organizations: ATP, Wimbledon, Paris Olympics, Seoul, Thomson Locations: Turin, Italy, U.S, Wimbledon, Bengaluru

Parent Singapore Telecommunications (STEL.SI) announced the resignation of Optus CEO Kelly Bayer Rosmarin days after a network-wide outage left nearly half of Australia's 26 million people without phone or internet for 12 hours. Appointed in April 2020, Rosmarin headed Optus through two national scandals that have tarnished the reputation of the telco giant. A massive data hack last year exposed the personal data of 10 million Australians and triggered a class action lawsuit and multiple investigations from regulators. Optus executives told the parliamentary hearing on Friday the telco provider had not foreseen a network-wide outage and so had no backup plan in place. (This story has been corrected to change date of Optus network outage to earlier this month, not last week, in paragraph 7)Reporting by Himanshi Akhand in Bengaluru, and Lewis Jackson and Byron Kaye in Sydney; Editing by Lisa Shumaker and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kelly Bayer, Michael Venter, Singtel, Rosmarin, ”, telco, Yuen Kuan, Peter Kaliaropoulos, Himanshi, Lewis Jackson, Byron Kaye, Lisa Shumaker, Stephen Coates Organizations: telco Optus, Parent Singapore Telecommunications, Optus, Triple, Thomson Locations: Optus, Bengaluru, Sydney

☆ Gold ticks higher as dollar slips on Fed pause bets
▼ + stars: | 2023-11-20 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

Spot gold rose 0.1% to $1,981.79 per ounce as of 0306 GMT, after rising 2.2% last week. The dollar slipped 0.2% to a more than a 2-1/2 month low against its rivals, making gold less expensive for other currency holders. Traders now widely expect the Fed to leave rates unchanged at its Dec. 12-13 policy meeting, according to the CME FedWatch tool. Lower rates exert downward pressure on the dollar and bond yields, enhancing the appeal of non-yielding bullion. Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, rose 1.49% to 883.43 tonnes on Friday.

Persons: Alexander Manzyuk, Kyle Rodda, Brijesh Patel, Chris Reese, Rashmi Organizations: REUTERS, Federal, Fed, Traders, Holdings, SPDR, Trust, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Explainer: GM-owned Cruise's wrong turn could slow robotaxi push
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Robotaxis are autonomous self-driving cabs which require no human interaction to operate the vehicle. When did driverless cabs become a reality? Cruise followed with its first driverless ride service last year in San Francisco, and slowly expanded to include Phoenix, Arizona, and Austin, Texas. The use of driverless cabs also raises the prospect of job losses and could attract pushback from unions. Regulatory hurdles facing robotaxisCommercializing fully autonomous vehicles, especially robotaxis, has been harder than expected with tough regulations, complicated technology and heavy investments forcing some to cut jobs.

Persons: Elijah Nouvelage, Cruise, Here's, Waymo, Nathan Gomes, Devika Organizations: San, GM Bolt, REUTERS, General Motors, Companies, Technologies, Amazon.com, Ford, Volkswagen, Argo, Thomson Locations: San Francisco, San Francisco , California, U.S, United States, Phoenix , Arizona, Austin , Texas, Bengaluru

☆ Sam Altman will not return as CEO of OpenAI - The Information
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsCompanies Microsoft Corp FollowNov 20 (Reuters) - Sam Altman will not return as CEO of OpenAI despite efforts from the company's executives to bring him back, The Information reported on Sunday. Emmett Shear, co-founder of video streaming site Twitch, will take over as interim CEO, the report said, citing co-founder and board director Ilya Sutskever. Reporting by Baranjot Kaur in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Altman, Carlos Barria, Emmett Shear, Ilya Sutskever, Baranjot Kaur, Nivedita Organizations: Economic Cooperation, REUTERS, Microsoft, Thomson Locations: Asia, San Francisco , California, U.S, Bengaluru

OpenAI logo is seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - OpenAI's staff has threatened to quit the artificial intelligence startup and join former boss Sam Altman at Microsoft's (MSFT.O) new division unless the board resigns, according to a letter seen by Reuters. Apart from Chief Technology Officer Mira Murati, Chief Data Scientist Ilya Sutskever and Chief Operating Officer Brad Lightcap, about 500 members of OpenAI staff said they would resign, a person familiar with the matter told Reuters. OpenAI did not immediately respond to a Reuters request for comment. Reporting by Akash Sriram in Bengaluru; Editing by Shweta Agarwal and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Sam Altman, Mira Murati, Ilya Sutskever, Brad Lightcap, OpenAI, Akash Sriram, Shweta Agarwal, Anil D'Silva Organizations: REUTERS, Reuters, Thomson Locations: Microsoft's, Bengaluru

☆ Bayer stops blood thinner drug trial due to lack of effect, in major setback
▼ + stars: | 2023-11-20 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsNov 19 (Reuters) - Germany's Bayer (BAYGn.DE) has aborted a large late-stage trial testing a new anti-clotting drug due to lack of efficacy, dealing a fresh blow to the embattled drugmaker and throwing its most promising medium-term development project in doubt. The trial halt, which followed recommendation of independent trial supervisors, marks another setback for a company burdened by a weak herbicide business, high debt and by U.S. lawsuits over the alleged carcinogenic effect of its commonly used Roundup weedkiller. Bayer said it will further analyse the data of the discontinued trial, known as OCEANIC-AF, which was initiated in August 2022. It said the independent trial supervisors recommended the continuation of a separate phase III trial, OCEANIC-STROKE, testing asundexian to prevent repeated strokes in participants who have already suffered one.

Persons: Wolfgang Rattay, Germany's Bayer, Bill Anderson, Bayer, Stefan Oelrich, Johnson, Ludwig Burger, Jose Joseph, Miranda Murray, Christopher Cushing Organizations: Bayer AG, REUTERS, Bristol, Myers Squibb, Johnson, Thomson Locations: Wuppertal, Germany, United States, asundexian, U.S, Frankfurt, Bengaluru

☆ How close are crypto markets to first spot bitcoin, ether ETFs?
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Word "Crypto" and stock graph are seen through magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 20 (Reuters) - A spate of filings for spot bitcoin and ether exchange-traded funds (ETFs), including from traditional finance heavyweights, has revived the crypto market that had been crushed by a series of meltdowns last year. A spot crypto ETF would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. The SEC has previously denied all spot bitcoin ETF applications citing potential for fraud, but that could soon change after it lost a legal battle in August. Here is a pipeline of filings for spot bitcoin ETFs awaiting approval:Reuters GraphicsHere is a pipeline of spot ether ETFs awaiting approval:Here are some ether futures-tied ETFs that have been approved recently:Sources: filings, media reports, company statementsReporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Michelle Price and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: magnifier, Dado Ruvic, Manya Saini, Niket, Michelle Price, Shounak Organizations: REUTERS, SEC, Thomson Locations: Bengaluru

☆ Canada financial regulator seeks feedback on crypto disclosures
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Canada's financial watchdog said on Monday it was seeking feedback on the public disclosure of cryptocurrency assets by federally regulated financial institutions, joining global regulators in ramping up scrutiny on the volatile sector. The consultation by Canada's Office of the Superintendent of Financial Institutions (OSFI) comes after the agency in July proposed new guidelines for crypto assets citing a risky environment. The OSFI's consultation will be running alongside another from the Basel Committee on Banking Supervision (BCBS), a global supervisory body which has also sought feedback from internationally active banks on the disclosure of crypto-asset exposures. Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Arasu Kannagi Basil, Devika Organizations: REUTERS, Canada's Office, Banking, Thomson Locations: Basel, Bengaluru

☆ Microsoft eyes seat on OpenAI's revamped board - The Information
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, January 25, 2023. REUTERS/Gonzalo Fuentes//File Photo Acquire Licensing RightsNov 19 (Reuters) - OpenAI's biggest backer, Microsoft (MSFT.O), is considering taking a role on the board if ousted CEO Sam Altman returns to the ChatGPT developer, the Information reported on Sunday citing two people familiar with the talks. Microsoft could either take a seat on OpenAI's board of directors, or as a board observer without voting power, the report added. Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Sam Altman, Urvi, Rashmi Organizations: Microsoft, REUTERS, OpenAI's, Thomson Locations: Issy, Paris, France, Bengaluru

☆ Structural demand for US debt strong despite bond market volatility - Moody's
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNov 20 (Reuters) - The structural demand for U.S. debt which underpins the dollar-based global financial system remains strong against the backdrop of recent Treasury market volatility, Moody's Investors Service said on Monday. The firm added U.S. financial regulators have undertaken a series of measures to improve Treasury market resilience and efficiency, and that it expects the market structure will continue to evolve. "Going forward, as the Fed reduces its Treasury holdings, foreign central banks, pension funds, insurance companies and households will be stabilizing factors in the market," Moody's said in a client note. Earlier this month, Moody's lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability. Treasury yields have soared this year on expectations the Federal Reserve will keep monetary policy tight, as well as on U.S.-focused fiscal concerns.

Persons: Carlo Allegri, Moody's, Manya Saini, Shounak Dasgupta Organizations: New York Stock, REUTERS, Moody's Investors, Treasury, Reserve, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru

☆ Fisker's accounting chief Beuting resigns within two weeks of joining
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

A view of a Fisker logo during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Fisker Inc FollowNov 20 (Reuters) - Fisker (FSR.N) said on Monday its chief accounting officer Florus Beuting has resigned, within two weeks of being appointed to the role. Beuting, who expressed his intent to resign on Nov. 14, was named the accounting chief on Nov. 6 to succeed John Finnucan, who left the company in October after three years in the role. Finnucan's departure led the electric-vehicle startup to delay its quarterly results after it flagged issues relating to internal controls over financial reporting. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Florus Beuting, Beuting, John Finnucan, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: REUTERS, New York Stock Exchange, Thomson Locations: Los Angeles , California, U.S, Bengaluru

☆ Caterer Compass forecasts strong growth in 2024
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Catering group Compass Group (CPG.L) expects 2024 underlying operating profit to grow about 13%, aided by strong demand leading to high single-digit organic revenue growth and stronger margins, it said on Monday. Compass, the world's largest catering group, said adjusted operating profit rose nearly 30% to 2.12 billion pounds ($2.64 billion) for the year ended Sept. 30, in line with market expectations. "Going forward, we expect to sustain mid to high single digit organic revenue growth and ongoing margin progression leading to profit growth ahead of revenue growth and increased cash generation," CEO Dominic Blakemore said in a statement. Annual underlying revenue grew 18.8% to 31.3 billion pounds, registering growth across its markets. In financial year 2023, it signed 2.7 billion pounds of new business, with first-time outsourcing accounting for about 50%.

Persons: Dado Ruvic, Dominic Blakemore, Compass, Hofmann, Yadarisa, Rashmi Organizations: REUTERS, Compass, Manufaktur GmbH, Thomson Locations: Argentina, Angola, Bengaluru

☆ A timeline of Sam Altman's firing and dramatic return to OpenAI
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

Companies Openai LLC FollowMicrosoft Corp FollowNov 21 (Reuters) - OpenAI said late on Tuesday Sam Altman would return to the company as CEO, capping days of high drama and marathon discussions about the future of the startup at the center of the global artificial intelligence boom. [1/2]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Carlos Barria Acquire Licensing RightsFollowing his surprise dismissal on Friday, Altman had briefly joined Microsoft (MSFT.O) as the head of artificial intelligence research along with the ChatGPT maker's former President Greg Brockman and other staff. The developments come less than a year after OpenAI kicked off a generative AI frenzy with the launch of viral chatbot ChatGPT and bagged Microsoft as an investor, among other big names. Reporting by Akash Sriram in Bengaluru; Editing by Shounak Dasgupta and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: OpenAI, Sam Altman, Carlos Barria, Altman, Greg Brockman, Akash Sriram, Shounak Dasgupta, Nivedita Organizations: Microsoft, Economic Cooperation, REUTERS, Thomson Locations: Asia, San Francisco , California, U.S, Bengaluru

Fortescue approved investments in the U.S. hydrogen hub in Phoenix, Arizona; the Gladstone 50 megawatt green hydrogen project in Queensland, Australia; and the Christmas Creek green iron trial commercial plant in Western Australia. About $550 million will be used for developing an electrolyser and liquefaction facility in Phoenix, where first production of liquid green hydrogen is targeted for 2026. I think some of the market's concerns will be allayed because the capital investment required is pretty minimal in the scheme of things." Under a plan to ramp up its green energy business, Fortescue said in August it would stop allocating 10% of its net profit to that unit. Fortescue shares were up 1% on Tuesday in a strong market for iron ore miners, with peers BHP (BHP.AX) and Rio Tinto (RIO.AX) up 1.5% and 2% respectively.

Persons: Melanie Burton, Australia's Fortescue, Fortescue, David Coates, BHP, Himanshi, Richard Chang, Clarence Fernandez Organizations: Fortescue Metals Group, REUTERS, Arizona, MELBOURNE, Gladstone, Fortescue Energy, Fortescue, Rio Tinto, Thomson Locations: Pilbara, Port Hedland, Western Australia, U.S, Phoenix , Arizona, Queensland, Australia, Phoenix, Brazil, Kenya, Norway, BellPotter, Sydney, Michigan, New York, Rio, Bengaluru

☆ US FDA to delay decision on Bristol Myers-2seventy bio cancer therapy
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. The U.S. Food and Drug Administration (FDA) has not yet confirmed when the advisory panel would meet, they added. Shares of Bristol Myers Squibb fell more than 2% and those of 2seventy bio slid nearly 20% in early morning trade. The therapy was originally co-developed by bluebird bio (BLUE.O) but following its spin-off in 2021 became part of 2seventy's portfolio. Bristol Myers and 2seventy bio, however, have faced manufacturing constraints, and a month-long planned maintenance shutdown of one of Abecma's manufacturing facility in June had also negatively impacted sales.

Persons: Andrew Kelly, 2seventy bio's, Bristol Myers, Johnson, Biotech's, Khushi, Sriraj Kalluvila Organizations: Food and Drug Administration, FDA, REUTERS, Bristol Myers Squibb, U.S . Food, Drug Administration, Bristol, Johnson, Thomson Locations: White Oak , Maryland, U.S, Bengaluru

Analysts attended earnings calls in the third quarter armed with questions for healthcare and consumer companies about the potential effect on their sales from the growing popularity of these drugs, known as GLP-1 agonists. A Reuters analysis of earnings transcripts for the third quarter showed "GLP-1" or alternatives like "obesity" or "weight-loss medications" were mentioned 256 times across 29 U.S. and European healthcare and consumer companies. That's more than double the mentions for the second quarter, when those phrases came up 127 times. While some consumer companies have talked about factors such as fewer calories being consumed, "these kind of large extrapolations" seem to be a bit of a stretch, said BMO Capital analyst Evan Seigerman. For big pharma manufacturers like Pfizer (PFE.N) and Amgen (AMGN.O), analyst questions were aimed at their obesity drug candidates.

Persons: Lilly, George Frey, Jeff Jonas, it's, Eli Lilly's, John Furner, Mondelez, Eli Lilly, Evan Seigerman, LVMH, Rajesh Kumar, Jonas, Bhanvi Satija, Savyata Mishra, Arpan Varghese, David Gaffen, Shounak Organizations: Novo Nordisk, Pharmacy, REUTERS, Gabelli, Novo, Walmart, Walmart U.S, Hershey, Truist Securities, Krispy, BMO Capital, Danish, pharma, Pfizer, Devices, HSBC, Thomson Locations: Provo , Utah, U.S, United States, Novo, Bengaluru

☆ LSEG names Publicis finance chief Michel-Alain Proch as CFO
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: 1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsNov 20 (Reuters) - The London Stock Exchange Group (LSEG.L) on Monday named Michel-Alain Proch as its new finance chief, starting March 1, 2024. Proch, who currently serves as group CFO of advertising group Publicis <PUBP.PA>, takes on the role from Anna Manz, who stepped down in May. Last week, LSEG, which owns London's 300-year old stock exchange, raised its mid-term growth guidance to "mid-to-high single" digits and said it would return a billion pounds to shareholders in 2024 as it looks beyond the integration of data and analytics company Refinitiv. Reporting by Eva Mathews in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Michel, Alain Proch, Proch, Anna Manz, Eva Mathews, Sonia Cheema Organizations: London Stock Exchange, REUTERS, Thomson Locations: Canary Wharf, London, Britain, Bengaluru

☆ Indian shares set for muted opening; TCS, Cipla in focus
▼ + stars: | 2023-11-20 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBANGALORE, Nov 20 (Reuters) - Indian shares are set to open on a slightly muted note on Monday, with a focus on the global interest rate outlook after a more than 3% rally so far this month. The NSE Nifty 50 index (.NSEI) gained 1.58% last week, its best in two months, while the Sensex rose 1.37%. "Market is expected to continue its upward movement driven, by robust macro data and diminishing global concerns," SMC Global Securities said in a note. In global markets, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged up 0.3%, with investors awaiting minutes of the Fed's last meeting.

Persons: Francis Mascarenhas, Nifty, Sohini Goswami Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, U.S . Federal, SMC Global Securities, India's Tata Consultancy Services, United, United States Food, Drug Administration, CFM Mozambique, General Tax Authority, Sethuraman NR, Thomson Locations: Mumbai, India, Rights BANGALORE, Asia, Pacific, Japan, United States, Qatar, Bengaluru

☆ Microsoft emerges as big winner from OpenAI turmoil
▼ + stars: | 2023-11-20 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

[1/2] Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. The turmoil at OpenAI since Friday had raised fears about the fallout for Microsoft, which has pumped in billions of dollars and uses the pioneer's technology for most of its AI offerings. That was nearly equal to the valuation OpenAI commanded in its last fundraise. We view Microsoft now even in a stronger position with Altman and Brockman at Microsoft running AI. "The OpenAI for-profit subsidiary was about to conduct a secondary at a $80 billion+ valuation.

Persons: Satya Narayana Nadella, Lucas Jackson, Sam Altman, Altman, Dan Ives, Brockman, OpenAI, Greg Brockman, Szymon Sidor, SemiAnalysis, Mira Murati, Aditya Soni, Akash Sriram, Sriraj Organizations: Microsoft, REUTERS, Google, Wedbush Securities, Thomson Locations: Manhattan, New York City, OpenAI, Bengaluru

☆ Microsoft emerges as big winner from OpenAI turmoil with Altman on board
▼ + stars: | 2023-11-20 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

That was nearly equal to the valuation OpenAI commanded in its last fundraise. "If Microsoft lost Altman, he could have gone to Amazon, Google, Apple, or a host of other tech companies," said Wedbush Securities analyst Dan Ives. We view Microsoft now even in a stronger position with Altman and Brockman at Microsoft running AI. Altman will lead a new research team at the software giant following his surprise ouster by OpenAI that shocked the tech industry. "The OpenAI for-profit subsidiary was about to conduct a secondary at a $80 billion+ valuation.

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. The Invesco Aerospace & Defense ETF has seen net inflows of more than $100 million so far this month, according to Lipper data, adding to the nearly $180 million it raked in October. Peers like the $5.5 billion iShares US Aerospace & Defense ETF and $1.78 billion SPDR S&P Aerospace & Defense ETF have posted net inflows of $178.4 million and $163.6 million, respectively, since October. U.S. President Joe Biden has asked Congress to provide $106 billion in supplemental funding, with $61.4 billion for Ukraine and $14.3 billion for Israel. The U.S. Congress has approved $113 billion for Ukraine in 21 months since the start of the war.

Persons: Brendan McDermid, Peers, Ashish Shah, Joe Biden, Michael Ashley Schulman, Bansari Mayur, Shweta Agarwal Organizations: Wall, REUTERS, Invesco Aerospace & Defense ETF, US Aerospace & Defense, P Aerospace & Defense ETF, Goldman Sachs Asset Management, Israel, U.S, Congress, Running, Thomson Locations: New York, U.S, Europe, Ukraine, Israel, Gaza, Bengaluru

☆ Morgan Stanley appoints Jed Finn as head of wealth management - memo
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. REUTERS/Brendan McDermid//File Photo Acquire Licensing RightsNov 20 (Reuters) - Morgan Stanley (MS.N) has named Jed Finn as the head of its wealth management unit, according to an internal memo seen by Reuters on Monday. Finn, currently the chief operating officer of the division, joined the investment bank in 2011 and has held several leadership roles in the business, the memo said. The appointment, effective Jan. 1, comes weeks after the bank named Ted Pick as its new chief executive officer. The bank also appointed insiders Jacques Chappuis and Ben Huneke as co-heads of investment management, the memo said.

Persons: Morgan Stanley, Brendan McDermid, Jed Finn, Finn, Ted Pick, Andy Saperstein, Dan Simkowitz, Jacques Chappuis, Ben Huneke, Niket, Tatiana Bautzer, Shounak Dasgupta, Sonia Cheema Organizations: New York Stock Exchange, REUTERS, Reuters, Financial Times, Thomson Locations: New York City, U.S, Bengaluru, New York

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