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☆ F.A.A. Spells Out Needed Fixes for SpaceX’s Starship Rocket
▼ + stars: | 2023-09-08 | by ( Kenneth Chang | More About Kenneth Chang | ) www.nytimes.com time to read: +2 min

A Number That Sums It Up: 63 Corrective ActionsThe first Starship test flight successfully lifted off on April 20. said the 63 corrective actions described in the final investigation report included redesigns of the rocket to prevent leaks and fires and additional analysis and testing of safety systems including the flight termination system. The investigation report is not being released publicly because it includes propriety information belonging to SpaceX and also data restricted by United States export controls, the F.A.A. reviewed the SpaceX report and concurred with the company’s findings and closed the investigation. What the Last Launch Looked LikeVideo by SpaceX captured the massive rocket’s liftoff and the moment when the rocket began to tumble out of control before it blew up.

Organizations: SpaceX, Super, United Locations: of Mexico, United States

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The price range, which has not been previously reported, would translate into a valuation for Arm of roughly between $50 billion and $54 billion, and an offering of $5 billion to $5.4 billion. It would make Arm the most valuable company to list in New York since electric car maker Rivian Automotive (RIVN.O) debuted in 2021. The valuation Arm is currently seeking represents a climb-down from the $64 billion valuation at which SoftBank acquired the 25% stake in the company it did not already own from its $100 billion Vision Fund last month. Arm has already signed up many of its major clients as investors in its IPO, Reuters reported on Friday.

Persons: Dado Ruvic, SoftBank, Echo Wang, Greg Roumeliotis, Matthew Lewis, Chizu Organizations: REUTERS, Arm Holdings, SoftBank Group Corp, Rivian, Reuters, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, Thomson Locations: New York

☆ Exclusive: Arm signs up big tech firms for IPO at $50 billion-$55 billion valuation
▼ + stars: | 2023-09-01 | by ( Echo Wang | Thomson Reuters | Echo Wang Is A Correspondent At Reuters Covering U.S. Equity Capital Markets | ) www.reuters.com time to read: +3 min

The talks are ongoing and some other potential investors are also in discussions to invest in the IPO, the sources added. SoftBank Group Corp (9984.T), which owns Britain-based Arm, is targeting a valuation between $50 billion and $55 billion, Reuters reported earlier on Friday. Arm's clients have agreed to invest in that valuation range, the sources said. Arm and SoftBank have set aside 10% of the shares to be sold in the IPO for its clients, Reuters has previously reported. The Wall Street Journal reported on Arm's valuation target earlier on Friday.

Persons: Dado Ruvic, SoftBank, Echo Wang, Anirban Sen, Rosalba O'Brien Organizations: REUTERS, Arm Holdings, Apple Inc, Nvidia Corp, Inc, Devices Inc, Intel Corp, Samsung Electronics Co, Cadence Design Systems, Synopsys Inc, SoftBank Group Corp, Reuters, Apple, Nvidia, Amazon.com Inc, AMD, Intel, Samsung, Cadence, Street, Thomson Locations: Britain, New York

☆ Exclusive: Arm signs up big tech firms for IPO at $50 bln-$55 bln valuation -sources
▼ + stars: | 2023-09-01 | by ( Echo Wang | Thomson Reuters | Echo Wang Is A Correspondent At Reuters Covering U.S. Equity Capital Markets | ) www.reuters.com time to read: +3 min

☆ Tesla ordered by auto regulators to provide data on 'Elon mode' Autopilot configuration
▼ + stars: | 2023-08-30 | by ( Lora Kolodny | ) www.cnbc.com time to read: +5 min

Tesla has received a special order from federal automotive safety regulators requiring the company to provide extensive data about its driver assistance and driver monitoring systems, and a once secret configuration for these known as "Elon mode." If the driver leaves the steering wheel unattended for too long, the "nag" escalates to a beeping noise. As CNBC previously reported, with the "Elon mode" configuration enabled, Tesla can allow a driver to use the company's Autopilot, FSD or FSD Beta systems without the so-called "nag." Tesla CEO Elon Musk who also owns and runs the social network X, formerly Twitter, often implies Tesla vehicles are self-driving. His use of Tesla's systems would likely comprise a violation of the company's own terms of use for Autopilot, FSD and FSD Beta, according to Greg Lindsay, an Urban Tech fellow at Cornell.

Persons: Elon Musk, Porte, Tesla, Elon, John Donaldson, Philip Koopman, Koopman, Ann Carlson, Ashok Elluswamy, Greg Lindsay, Grep, Bruno Bowden, Musk Organizations: SpaceX, Twitter, Porte de, CNBC, Traffic Safety Administration, Bloomberg, NHTSA, Automotive, Carnegie Mellon University, California DMV, FSD, Urban Tech, Cornell Locations: Paris, California

☆ A hedge fund manager shares 2 ChatGPT prompts and the AI plugin he used to filter top stock picks
▼ + stars: | 2023-08-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

He fed the LLM data from a terminal and asked it to filter its findings through top academic literature and fund managers. Building on the knowledgeIn his earlier experiments, Patel and his team manually pasted increments of stock data into ChatGPT's text box. Using Julius AI, Patel was able to input data for over 6,800 stocks to see if the outcomes or accuracy would change. The metrics Patel chose to input were based on company fundamentals that he felt were important when picking stocks. Patel concluded that whether it's a human analyst or AI that's picking stocks, there are no guarantees in the stock market.

Persons: Alpesh Patel, it's, Patel, Julius AI, Julius, Price, ChatGPT's, Warren Buffett, Cisco Systems Inc Patel, Johnson, Eli Lilly, Rahul Sonwalkar, you've Organizations: NYSE, Nasdaq, US Securities and Exchange Commission, FTSE, New York Stock Exchange, Alpha, Broadcom, Cisco Systems Inc, Apple Inc UnitedHealth, Johnson, Johnson Exxon Mobil Corp Visa Inc Tesla, Walmart, Taiwan Semiconductor Manufacturing Procter, Gamble, Chevron Corp Mastercard, Depot Inc, Pfizer, AbbVie Inc Merck, Co Inc, Cola Co, Pepsico, Broadcom Inc Alibaba

The project launched on Monday, with eyeball scans taking place in countries including Britain, Japan and India. Applicants lined up to have their irises scanned by the device, before waiting for the 25 free Worldcoin tokens the company says verified users can claim. Worldcoin's data-collection is a "potential privacy nightmare," said the Electronic Privacy Information Center, a U.S. privacy campaigner. Worldcoin tokens were trading around $2.30 on the world's largest exchange, Binance, on Tuesday. For many users, the promise of financial gains from the crypto coins was enough to make them hand over personal data.

Persons: Sam Altman, Saeki Sasaki, Worldcoin, Ali, Madeleine Stone, Sujith, Elizabeth Howcroft, Medha, Mark Potter Organizations: Reuters, Privacy, Big Brother Watch, Thomson Locations: TOKYO, BENGALURU, Britain, Japan, India, Tokyo, U.S, London, Bengaluru, Medha Singh, Anton

July 24 (Reuters) - Cadence Design Systems Inc (CDNS.O) on Monday raised its full-year revenue forecast to slightly above Wall Street estimates, as a surge in artificial intelligence (AI) innovation fueled demand for custom semiconductor design. But the company's current quarter forecast had a midpoint slightly below analyst estimates, sending shares down 4.4% at $230.60 in after-hours trading. Cadence forecast full-year revenue between $4.05 billion and $4.09 billion, largely above analysts' average estimate of $4.06 billion, according to Refinitiv data. But the company gave a revenue forecast of $995.5 million in the current quarter, below Refinitiv estimates of $1.01 billion. Chief Executive Anirudh Devgan said one of the company's large customers recently used its AI software to improve chip power efficiency.

Persons: Anirudh Devgan, Devgan, Tanya Jain, Akash Sriram, Devika Syamnath, Chris Reese Organizations: Cadence Design Systems, Nvidia, Devices, Cadence, Revenue, Synopsys Inc, Thomson Locations: Bengaluru

☆ How to invest in the massive and urgent demand for infrastructure, according to the manager of a $40 billion firm that does just that
▼ + stars: | 2023-07-20 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +8 min

It's not investing in infrastructure directly," Wahba told CNBC. "All the technology around infrastructure services, I think is an area which is going to grow exponentially," Wahba told CNBC. More infrastructure systems are going to become digitized, which means those systems increasingly become vulnerable to cybersecurity attacks. The danger of hackers with bad intentions getting into infrastructure systems is especially scary. Otherwise, privatizing infrastructure "is a recipe for disaster," Wahba told CNBC.

Persons: Sadek Wahba, Wahba, It's, Burger, Charles, Gaulle Organizations: Squared Capital Advisors, P Global, Bloomberg, Getty, Squared, Biden's, Infrastructure Advisory Council, CNBC, Companies Locations: Houston , Texas, New York City, Manhattan, cybersecurity, United States, United Kingdom, Paris, JFK, U.S

☆ Broadcom to invest in a $1 billion EU-funded chip programme in Spain
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

MADRID, July 7 (Reuters) - U.S. chipmaker Broadcom (AVGO.O) will invest in a European Union-funded programme to develop a semiconductor industry in Spain, Chief Executive Charlie Kawwas said late on Thursday. "Excited to announce our decision to invest in Spain's semiconductor ecosystem under their semiconductor support program," Kawwas said on his Twitter account. The project in which Broadcom would be involved could be worth $1 billion, the Spanish economy ministry said in an emailed statement. Broadcom did not say how much it would invest. Prior to Broadcom, the Spanish government had said U.S. tech giant Cisco Systems Inc. (CSCO.O) was planning to open a new chip design centre in the northeastern Spanish city of Barcelona.

Persons: Charlie Kawwas, Kawwas, Inti Landauro, Belen, Mark Potter Organizations: chipmaker Broadcom, Broadcom, Cisco Systems Inc, EU, Thomson Locations: MADRID, Union, Spain, Spanish, Europe, Barcelona

☆ Mercury Systems rebuffs former CEO's unusual pay demand
▼ + stars: | 2023-06-28 | by ( David Carnevali | ) www.reuters.com time to read: +5 min

The value of the change-in-control payout hinges on Aslett's unvested shares and Mercury's stock price. In his resignation letter, Aslett said he was entitled to the change-in-control payout even though that change did not occur. Mercury said its board of directors disputed Aslett's claim to the change-in-control payout. Without it, Aslett would be entitled only to a $2.4 million severance package, a Mercury regulatory filing shows. But the contract stipulates that to be eligible for the change-in-control payout, Aslett also needed to resign for "good reason."

Persons: Mark Aslett, Marc Hodak, Aslett, Mercury, Charles Elson, William Ballhaus, Elliott, I've, Francis Byrd, David Carnevali, Svea Herbst, Bayliss, Greg Roumeliotis, Matthew Lewis Organizations: YORK, Mercury Systems Inc, Mercury, Reuters, University of Delaware, Elliott Investment Management, Alchemy, Partners, Svea, Thomson Locations: Andover , Massachusetts, New York

☆ Janitor heard ‘annoying alarms’ and turned off freezer, ruining 20 years of school research worth $1 million, lawsuit says
▼ + stars: | 2023-06-27 | by ( Jessica Xing | ) edition.cnn.com time to read: +3 min

CNN —A university janitor who turned off a freezer after hearing multiple “annoying alarms,” ruined more than 20 years of research, according to a lawsuit filed against his employer by Rensselaer Polytechnic Institute in upstate New York. The school is seeking more than $1 million in damages and legal fees from Daigle Cleaning Systems as a result of the incident. The college does not believe the janitor is at fault but instead blames Daigle Cleaning Systems for failing to properly train and supervise him, according to the suit. CNN reached out to attorneys for Daigle Cleaning Systems and the Rensselaer Polytechnic Institute for comment. A warning was posted on the freezer, according to the court filing.

Persons: Lakshmi, Baruch ’ Organizations: CNN, Rensselaer Polytechnic Institute, Daigle, Systems Inc, Systems, Supreme, Biochemical Solar Energy Research, AS IT Locations: New York, Troy , New York, Rensselaer, “

☆ Spirit Aero to continue contract talks with union as strike looms
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit TessierJune 23 (Reuters) - Spirit AeroSystems Inc (SPR.N) said it will meet with the U.S. machinists union on Saturday to continue negotiations for a new contract, after workers rejected a proposed four-year deal and announced a strike. Shares of Spirit were up 4.8% in afternoon trade on Friday. The union did not immediately respond to a Reuters request for comment. Reporting by Aishwarya Nair in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Aishwarya Nair, Devika Organizations: Boeing, International Paris Air, Le, REUTERS, AeroSystems, U.S, Airbus, International Association of Machinists, Aerospace Workers, Thomson Locations: Le Bourget, Paris, France, Wichita, Bengaluru

Recessions haven't always resulted in declining stock markets, and good opportunities can be found amid them. Sectors for recession naysayersThe best sectors for recession disbelievers are the most economically sensitive ones: industrials, materials and financials. Well-positioned companies with good growth prospects currently include: Corteva, Dow Chemical, Ecolab, Linde plc, Martin Marietta Materials, Nucor Corp., PPG Industries and Sherwin-Williams. Currently buyable names include: Campbell Soup Co., General Mills, The Hershey Co., Kellogg's, Kimberly-Clark Corp., Kroger, Procter & Gamble and Walmart. Sector names with reasonable risk levels and good growth prospects include: Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc., Veeva Systems Inc., IQVIA Holdings Inc., Cigna Group and Zoetis Inc.

Persons: Sherwin, Williams, Mayur, Martin Marietta, JPMorgan Chase, Rowe Price, Willis Towers Watson, Campbell, General Mills, Clark, Willie B, Thomas, Digitalvision Organizations: Westend61, University of Michigan Consumer, Investors, Westinghouse Air Brake Co, Cummins Inc, CSX, Emerson Electric, Otis Worldwide, Carrier, Caterpillar, Honeywell, Illinois Tool, Lockheed Martin Corp, Dow Chemical, Ecolab, Linde plc, Martin, Martin Marietta Materials, Nucor Corp, PPG Industries, XLF, JPMorgan, Rowe Price Group Inc, American International Group, Allstate, The, McLennan, Sectors, Co, Hershey Co, Clark Corp, Kroger, Procter, Gamble, Walmart, Getty Images Health, iShares U.S, Medical Devices, Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc, Veeva Systems Inc, IQVIA Holdings Inc, Cigna, Zoetis Inc Locations: American, The Hartford, Marsh, Kimberly

Dow Jones Industrial Average (.DJI) constituent Cisco Systems Inc's (CSCO.O) shares fell 4.3% in premarket trading after it said a large backlog of products weighed on demand for new orders from customers. Shares of Walmart Inc (WMT.N) rose 1.7% after the retailer raised its annual sales and profit targets, befitting from inflation-wary consumers trading down to cheaper groceries. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were up 15 points, or 0.11%. Bath & Body Works Inc (BBWI.N) gained 13% after the beauty and skincare firm raised its annual profit forecast. Japan's Prime Minister Fumio Kishida said he welcomed and expected more investment from global chipmakers in the country.

Dow Jones Industrial Average (.DJI) constituent Cisco Systems Inc (CSCO.O) slipped 1.7% after it said a large backlog of products weighed on demand for new orders from customers. Shares of Walmart Inc (WMT.N) rose 2.8% after the retailer raised its annual sales and profit targets, benefiting from inflation-wary consumers trading down to cheaper groceries. And you got a little follow through from the optimism around getting a (debt ceiling) deal done," said Thomas Hayes, chairman at Great Hill Capital LLC. Bath & Body Works Inc (BBWI.N) gained 8.7% after the beauty and skincare firm raised its annual profit forecast. Declining issues outnumbered advancers for a 2.30-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq.

☆ Cisco's orders hit by sluggish demand, shares fall
▼ + stars: | 2023-05-17 | by ( Richardrohan Francis | ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Cisco Systems Inc (CSCO.O) said on Wednesday a large backlog of products due to supply chain constraints has hit demand for new orders from customers, sending the company's shares down 4% in extended trading. Cisco's product orders fell 23% in the third quarter, even as the maker of routers, security services and software products reported a quarterly profit that beat estimates, helped by its aggressive steps to resolve supply chain bottlenecks. But the backlog, combined with "macroeconomic conditions", hit demand for new products, company executives said on a post-earnings conference call. "Increase in product shipments is often leading customers and partners to absorb these shipments prior to placing new orders," Cisco CEO Chuck Robbins said. Cisco also forecast full-year revenue to rise between 10.0% and 10.5% and now expects annual adjusted earnings per share between $3.80 and $3.82.

☆ Cisco raises full-year profit forecast
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

May 17 (Reuters) - Cisco Systems Inc (CSCO.O) on Wednesday raised its full-year profit forecast, betting that demand will stay strong for its networking infrastructure even in a slowing economy. Cisco also forecast fiscal 2023 revenue to rise between 10.0% and 10.5%, compared with its previous outlook of an increase of 9.0% to 10.5%. The maker of routers, security services and software products has also benefited from resilience in cloud spending, which has been a bright spot in the wider tech slowdown. Cisco posted revenue of $14.57 billion in the third quarter, compared with analysts' estimates of $14.39 billion, according to Refinitiv. Reporting by Richard Rohan Francis in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Last week Britain became the first country to start supplying Ukraine with long-range cruise missiles, which will allow its forces to hit Russian troops and supply dumps deep behind the front lines. Zelenskiy visited Berlin, Rome and Paris over the weekend to meet with European leaders as he seeks to drum up further military and financial support for Ukraine. The British government said Zelenskiy had arrived in Britain and would meet Sunak at his Chequers country residence. After the United States, Britain has been one of the largest suppliers of military aid to Ukraine, contributing 2.3 billion pounds ($2.9 billion) worth of support last year and pledging a similar amount for 2023. In January, Britain said it would send 14 of its battle tanks to Ukraine, a pledge that was followed by other nations including the United States and Germany.

☆ Britain to send long-range attack drones to Ukraine
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

LONDON, May 15 (Reuters) - Britain will send hundreds of new long-range attack drones with a range of over 200km to Ukraine, the government said on Monday after President Volodymyr Zelenskiy arrived in the country for talks with Prime Minister Rishi Sunak. "Today the Prime Minister will confirm the further UK provision of hundreds of air defence missiles and further unmanned aerial systems including hundreds of new long-range attack drones with a range of over 200km," the government said in a statement. "These will all be delivered over the coming months as Ukraine prepares to intensify its resistance to the ongoing Russian invasion." Reporting by Kylie MacLellan; editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St Week Ahead Amid banking woes, faltering US small-caps offer ominous economic sign
▼ + stars: | 2023-05-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

NEW YORK, May 12 (Reuters) - A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. "Typically in a recession, small caps underperform." Last month it downgraded its view on U.S. small caps from "unfavorable" to "most unfavorable." Some investors are more upbeat about the outlook for small caps, particularly when looking beyond the next several months. One reason is that small caps, being sensitive to economic fluctuations, tend to shine early in a market recovery.

☆ Factbox: Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +8 min

read moreSpotify Technology SA (SPOT.N):Music streaming service Spotify is cutting 6% of its workforce, or roughly 600 roles. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Workday Inc (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse is planning to cut about 3,000 jobs in the second quarter, Reuters reported. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

☆ Coding Tools for Novice Programmers and Business Users Get ChatGPT Tech Boost
▼ + stars: | 2023-04-20 | by ( Belle Lin | ) www.wsj.com time to read: 1 min

Since implementing new AI-based features in preview last October, users of Power Automate, part of Microsoft’s low-code Power Platform, have reduced the time it takes to build a workflow by 50%, according to the company. Photo: Microsoft Corp.Companies that offer low-code and no-code platforms—tools once billed as disruptive due to their ability to make software and application development accessible to anyone without coding experience—are preparing to be disrupted. As artificial-intelligence-based technologies like the viral chatbot ChatGPT become more prominent, low-code tool providers such as OutSystems Inc. are racing to add AI to stay ahead of the competition—and potential future irrelevance. Many are aiming to keep pace with Microsoft Corp., which last month said its low-code product, Power Platform, is being further augmented with generative AI capabilities.

☆ IBM earnings top estimates as margins expand
▼ + stars: | 2023-04-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

IBM Chairman and CEO Arvind Krishna appears on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. IBM issued stronger-than-expected first-quarter earnings on Wednesday even as the technology and consulting company reported disappointing revenue. IBM's consulting unit delivered $4.96 billion in revenue, up almost 3% but lower than the StreetAccount consensus of $5.01 billion. During the quarter, IBM said its technology was powering artificial intelligence-powered commentary on videos in the Masters Tournament golf app. WATCH: Technology is a deflationary answer to today's macro struggles, says IBM CEO Arvind Krishna

☆ China's Xpeng aims to cut costs with new vehicle manufacturing platform
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +2 min

[1/5] He Xiaopeng, the co-founder, chairman and CEO of XPeng Motors attends a news conference ahead of the Shanghai Auto Show, in Shanghai, China April 16, 2023. REUTERS/Aly SongSHANGHAI, April 16 (Reuters) - China's electric vehicle (EV) maker Xpeng (9868.HK) unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company's upcoming models. He said that these cost reductions would give Xpeng an edge against its rivals in an increasingly competitive market. Xpeng will build its G6 SUV, which will debut at the Shanghai auto show starting on Tuesday, as the first model to be built on the SEPA 2.0, according to the company. Xpeng's rival Tesla (TSLA.O) uses massive casting machines, also known as gigapresses, to make large single pieces of vehicle underbodies.

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