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☆ Chinese state media, AI companies warn of risks in ChatGPT stock frenzy
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Feb 9 (Reuters) - Chinese state media on Thursday cautioned against risks in chasing ChatGPT-concept stocks, while artificial intelligence (AI) companies urged investors to be rational after their soaring share prices caught regulators' attention. Frenzy around the ChatGPT chatbot has spurred speculative bets in China's stock market, pumping up AI firms such as TRS Information Technology Co Ltd (300229.SZ), Hanwang Technology Co Ltd (002362.SZ) and CloudWalk Technology Co Ltd (688327.SS). ChatGPT, developed by OpenAI and backed by Microsoft Corp (MSFT.O), gives strikingly human-like responses to user queries. The Securities Times in a front-page editorial highlighted several technological concepts that spurred stock buying in China, such as fifth-generation telecommunications networks (5G), augmented reality (AR), virtual reality (VR) and anti-virus garments - the excitement for which has died down. Companies developing ChatGPT-like concepts have also flagged risks at the request of regulators after their prices shot up amid intense interest in generative AI - technology that can generate new data and media such as text and images.

☆ As natural gas prices tumble, new worries for U.S. shale patch
▼ + stars: | 2023-02-09 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - A 46% drop in natural gas prices this year is rippling across the U.S. shale patch, threatening to slow drilling and chill deal-making in a move unthinkable six months ago as global demand soared. Analysts are chopping their outlook for gas prices this year, and for production and earnings. Such moves were unfathomable six months ago as Russia reduced its gas flows to Europe and U.S. gas became a hot commodity. Analysts expect gas drilling rigs to fall beginning this month. Prices will remain around $2.50 per mmBtu this summer, down from an earlier $3.50 per mmBtu outlook, predicts energy technology firm Enverus.

Analysts said the new cash may afford Bed Bath only a few quarters to revive its business, and a weakening economy would diminish any chance of a successful turnaround. Bed Bath declined to comment on Hudson Bay Capital's role in the share sale. "All is on hold," a maker of children's apparel said last week, adding that it had stopped shipping products to Bed Bath since early January. A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. Reuters reported late last month that Bed Bath had lined up liquidators to close additional stores unless a last-minute buyer emerged.

☆ Twitter outage leaves some users unable to tweet
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Feb 8 (Reuters) - Some Twitter users were unable to tweet on Wednesday, prematurely encountering a message that said "You are over the daily limit for sending Tweets." Twitter was down for about 9,000 users in the United States at 5 p.m. Eastern time, according to outage tracking website Downdetector.com. "Twitter may not be working as expected for some of you. read moreThe Information reported Musk told Twitter employees on Wednesday to pause on new feature development "in favor of maximizing system stability and robustness, especially with the Super Bowl coming up." Reporting by Khushi Mandowara in Bengaluru and Sheila Dang in Dallas; Editing by Anil D'Silva and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Holcim to acquire U.S. roofing systems firm Duro-Last for $1.29 bln
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Feb 7 (Reuters) - Holcim AG (HOLN.S) on Tuesday said it has agreed to acquire U.S. roofing systems manufacturer Duro-Last. The Swiss cement maker said the transaction is valued at $1.29 billion and that, as a result, Holcim roofing systems will exceed $4 billion in net sales ahead of schedule. Reporting by Noele Illien; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Baidu to finish testing ChatGPT-style project 'Ernie Bot' in March
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Feb 7 (Reuters) - China's Baidu Inc (9888.HK) said on Tuesday it would complete internal testing of a ChatGPT-style project called "Ernie Bot" in March, joining a global race as interest in generative artificial intelligence (AI) gathers steam. It has gradually grown to be able to perform tasks including language understanding, language generation, and text-to-image generation, it added. Search engine giant Baidu's Hong Kong-listed shares jumped as much as 13.4% on the news. The company has also worked to add OpenAI's image-generation software to its Bing search engine in a new challenge to Alphabet Inc's (GOOGL.O) Google. The company has been investing heavily in AI technology, including in cloud services, chips and autonomous driving, as it looks to diversify its revenue sources.

☆ China's Baidu to finish testing ChatGPT-style project 'Ernie Bot' in March
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Feb 7 (Reuters) - Chinese search engine giant Baidu Inc (9888.HK) on Tuesday said it would complete internal testing of ChatGPT-style project "Ernie Bot" in March. Baidu plans to launch an artificial intelligence chatbot service similar to OpenAI's ChatGPT in March, a person familiar with the matter told Reuters last week. The person said Baidu aims to make the service available as a standalone application and gradually merge it into its search engine. Reporting by Yingzhi Yang and Brenda Goh; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Feb 6 (Reuters) - A U.S. judge on Monday ordered regulators to reconsider part of the permit approving Lithium Americas Corp's (LAC.TO) Thacker Pass lithium mine project in Nevada, though the mixed ruling rejected claims that the project would cause unnecessary harm to the environment or wildlife. Chief Judge Miranda Du of the federal court in Reno, Nevada, ordered the U.S. Bureau of Land Management to determine whether the company has the right to dump waste rock at the site, a ruling based on a complex set of case law. Du's ruling can be appealed. Reporting by Ernest Scheyder; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Five dead in Israeli raid on Palestinian militants in W.Bank
▼ + stars: | 2023-02-06 | by ( Ali Sawafta | ) www.reuters.com time to read: +2 min

[1/3] Bullet holes are pictured on a door at the scene where Israeli forces killed a number of armed fighters during a raid at a refugee camp near the city of Jericho in the Israeli-occupied West Bank, February 6, 2023. REUTERS/Mohamad TorokmanJERICHO, West Bank, Feb 6 (Reuters) - Israeli forces killed a number of armed fighters on Monday during a raid on a refugee camp near the occupied West Bank city of Jericho aimed at capturing suspected Hamas militants, the Israeli military said in a statement. Five people were killed, governor of Jericho Jihad Abu al-Assal said, in the raid in Aqbat Jabr refugee camp in southern Jericho and eight were arrested, according to a statement published by official Palestinian news agency WAFA. The Palestinian health ministry said three people had been wounded, one critically, but gave no details on any dead. Ahead of discussions in Cairo with Egyptian officials hoping to prevent further escalation, Haniyeh indicated the raid could impact the talks.

☆ China's finance minister, central-bank governor to attend debt roundtable in India, IMF says
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 5 (Reuters) - China's finance minister and its central bank governor will attend a roundtable with other creditors and some borrowing countries in February in India, IMF Managing Director Kristalina Georgieva said in a CBS' 60 Minutes interview on Sunday. "China has to change its policies because low income countries cannot pay," she said. Georgieva said last month the first such gathering will take place on the sidelines of a meeting of Group of 20 finance officials in India. "China is going to participate at the level of minister of finance and the governor of People's Bank of China," she told 60 Minutes. Reporting by Costas Pitas in Los Angeles and David Lawder in Washington; Editing by Christopher Cushing and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Australia retail sales volumes dip in Q4, price growth slows
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Feb 6 (Reuters) - Australian retail sales volumes fell for the first time in a year last quarter as shoppers trimmed spending on goods, a sign higher borrowing costs are finally working to curb spending. Data from the Australian Bureau of Statistics on Monday showed real retail sales dipped 0.2% in the December quarter to A$96.9 billion ($66.99 billion). That was still better than market forecasts of a 0.6% fall and will make a slight drag on economic growth. The central bank meets on Tuesday as is widely expected to hike rates by a quarter point to 3.35%. Reporting by Wayne Cole; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ China willing to restart trade dialogue with Australia after talks
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

The virtual meeting "represents another important step in the stabilisation of Australia's relations with China," Farrell said after the first talks between the trade ministers of the two countries since 2019. Wang said China is willing to restart the mechanism facilitating dialogue with Australia on economic and trade issues and to expand cooperation in emerging areas including climate change and the new energy sectors. China's top economic planner in May 2021 suspended all activity under a China-Australia Strategic Economic Dialogue which was an important forum for Australia and China to work through issues relevant to bilateral economic partnership. The Chinese statement said Australia was also willing to work with China to enhance mutual trust and resolve differences through candid dialogue. Wang described China and Australia as important economic and trade partners, with a highly complementary economic structure, making cooperation mutually beneficial.

☆ Ukraine's forces still hold Bilohorivka, last part of Luhansk region - governor
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

Feb 5 (Reuters) - Ukrainian forces remained in control of the village of Bilohorivka, the Luhansk region governor Serhiy Haidai said on Sunday, adding that the situation there is tense, but under control. "Our troops remain in their positions, nobody has captured Bilohorivka, nobody has entered there, there is no enemy there." Some Moscow-installed officials and pro-Russian military bloggers have recently claimed Russian advances in the direction of Bilohorivka, the last part of Luhansk held by Ukrainian forces. "The situation at the front is tense, but controlled by Ukrainian forces," Haidai said. "The number of Russian attacks has ... increased, but all of them have been repulsed by our troops, who remain in their positions."

☆ Reactions to Pakistan ex-President Musharraf's death
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

Feb 5 (Reuters) - Pakistani former President Pervez Musharraf died on Sunday following a prolonged illness at a hospital in Dubai, after years in self-imposed exile. SHASHI THAROOR, INDIAN POLITICIAN, SAID ON TWITTER"Once an implacable foe of India, he became a real force for peace 2002-2007. I met him annually in those days at the UN & found him smart, engaging & clear in his strategic thinking. RIP"MOSHARRAF ZAIDI, CEO OF TABADLAD, AN ISLAMABAD-BASED THINK TANK"The most important legacy Gen. Musharraf leaves behind predates his time as president. The 1999 Kargil War permanently altered ...

☆ Famed California mountain lion celebrated at Los Angeles event
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

Feb 4 (Reuters) - A famed California mountain lion was celebrated at a sold-out event at the Greek Theater in Los Angeles on Saturday, with thousands of fans honoring the big cat's life and contribution to urban wildlife. The mountain lion, called P-22 and thought to be about 12 years old, became a Los Angeles celebrity after living in the shadow of the Hollywood Hills for over a decade, traversing busy highways to take up residence in and around Griffith Park. Among the crowds who attended the celebration, many sporting P-22 memorabilia, Los Angeles resident Paul Aguayo recounted an encounter with P-22 near Burbank in 2012. Mountain lions like P-22 are threatened by habitat loss and fragmentation, with highway deaths taking an increasing toll. Officials and advocates have called for the construction of more wildlife crossings in urban areas and well-planned spaces for them to roam.

☆ Pakistan ex-President Pervez Musharraf dies in Dubai after years in exile
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

[1/7] Pakistan's General Pervez Musharraf salutes during the playing of Pakistan's national anthem at the Joint Staff Headquarters in Rawalpindi November 27, 2007. REUTERS/Mian KhursheedISLAMABAD, Feb 5 (Reuters) - Pakistani former President Pervez Musharraf died on Sunday following a prolonged illness at a hospital in Dubai, after years in self-imposed exile. Musharraf joined what Washington called its "war on terror" after the Sept. 11, 2001, attacks on the United States. This made Musharraf a target for militants in Pakistan as well as causing him to lose support among conservative elements in Pakistan. Allowed abroad for medical treatment even as he faced a treason case in Pakistan, Musharraf last flew to Dubai in 2016.

☆ Big Tech earnings show digital ads market not out of the woods
▼ + stars: | 2023-02-03 | by ( Sheila Dang | ) www.reuters.com time to read: +2 min

[1/2] A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on November 2, 2021. Google-owner Alphabet Inc (GOOGL.O) on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world's largest digital ad platform has traditionally been resilient compared to smaller rivals. Meta Platforms Inc (META.O), the second-largest digital ad platform, lifted Wall Street on Wednesday with its cost cuts and big share buyback, though it posted its third consecutive quarter of year-over-year revenue decline. Lower ad spending from brands in the financial services and technology sector was one reason for the revenue decline, the company said. Reporting by Sheila Dang in Dallas; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Cargo airlines have until July to move flights from Mexico's capital airport
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Feb 2 (Reuters) - Cargo airlines operating out of Mexico's busiest airport will have until July to leave the hub, a decree published in the country's national gazette Thursday evening said. The decree comes from President Andres Manuel Lopez Obrador, who has said he would have cargo flights moved due to lack of space at the Benito Juarez International Airport in Mexico City. Around 3% of flights at the airport in 2022 were for cargo, according to flight data. The closest airport is the Felipe Angeles International Airport on the northern outskirts of the city, one of Lopez Obrador's flagship public works projects opened last March. The decree will still allow flights carrying both cargo and passengers to operate out of the Benito Juarez airport.

☆ India's Adani shares nosedive as investors fret about Hindenburg fallout
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +3 min

Hindenburg in its report said key listed Adani companies had "substantial debt" and that shares in seven Adani listed firms have an 85% downside due to what it called sky-high valuations. The Adani Group said the allegation of stock manipulation had "no basis" and stemmed from ignorance of Indian law. Its response stated that over the past decade, group companies have "consistently de-levered". In total, the seven listed Adani Group companies now have a market capitalisation of $99 billion, versus $218 billion before the Hindenberg report. The prices of U.S. dollar bonds issued by Adani Group entities edged higher on Friday after diving on Thursday.

☆ Investor Ryan Cohen takes stake in Nordstrom - WSJ
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

The billionaire investor believes it is inappropriate for Tritton, who used to work at Nordstrom from 2009 to 2016, to be deciding compensation for Nordstrom family members who are executives at the company, as he used to work around them, according to WSJ. Cohen has previously traveled to Seattle, where Nordstrom is based, to meet with members of the family and learn more about the business, WSJ said. Both Cohen and Nordstrom did not immediately respond to Reuters requests for comment. The department store chain in September last year adopted a "poison pill" to prevent investors from amassing 10% or more of its shares, after Mexican department store chain Liverpool (LIVEPOLC1.MX) disclosed a 9.9% passive stake in Nordstrom. Cohen also had a 9.8% stake in Bed Bath & Beyond, which he sold in August, following a stunning rally in the stock.

Several of this year's Grammy nominees, including "abcdefu" singer Gayle and R&B artist Muni Long, rose in popularity after influencers and everyday users posted TikTok videos with their music. Even as the music industry gathers in Los Angeles to celebrate artists and their songs at Sunday's Grammy awards, the relationship between hitmaker TikTok and music labels is showing signs of strain. As deals with the major music companies expire, the labels are looking to receive some of TikTok's ad revenue, according to Tatiana Cirisano, music industry analyst for Midia Research. One music industry insider, who spoke on condition of anonymity, said "it’s open to interpretation" why this is happening now. "TikTok has become really integral to the way that younger people relate to music, discover music and consume it,” Cirisano said.

China's imports were assessed at 10.98 million bpd in January, down from December's 11.37 million bpd and November's 11.42 million bpd. Asia's crude oil imports vs Brent priceFUEL EXPORTSAnother factor is the price of crude oil and the interplay between China's inventories and its exports of refined products. INDIA RECORDIndia, the region's second-biggest importer, saw January arrivals hit a record high of 5.29 million bpd, up from December's 4.78 million bpd. Other major Asian oil buyers also saw gains in January, with South Korea importing 3.11 million bpd, up from 2.85 million bpd in December, while Singapore imported 1.65 million bpd, up from 910,000 bpd. Japan was the exception, with January imports dropping to 2.83 million bpd from December's 2.96 million bpd.

☆ CIA chief warns against underestimating Xi's ambitions toward Taiwan
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 2 (Reuters) - U.S. Central Intelligence Agency Director William Burns said on Thursday that Chinese President Xi Jinping's ambitions toward Taiwan should not be underestimated, despite him likely being sobered by the performance of Russia's military in Ukraine. Burns said that the United States knew "as a matter of intelligence" that Xi had ordered his military to be ready to conduct an invasion of self-governed Taiwan by 2027. The Russian invasion had fueled concerns in the West of China possibly making a similar move on Taiwan, a democratic island Beijing says is its territory. Burns said the next six months will be "critical" for Ukraine, where Moscow has been making incremental gains in recent weeks. Reporting by Michael Martina, Rami Ayyub, David Brunnstrom and Phil Stewart; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Macau casino revenues surge in Jan after COVID rules lifted
▼ + stars: | 2023-02-01 | by ( Farah Master | ) www.reuters.com time to read: +3 min

Still investors took cheer, sending shares in Macau casinos up between 3% to 5%, while executives and analysts said it was an encouraging sign of a solid recovery to come. A special administrative region of China, Macau has seen a resurgence of tourists from the mainland since Jan. 8 after the territory dropped all COVID-19 testing requirements for inbound travellers from the mainland, Hong Kong and Taiwan. January's revenues were the first for Sands China (1928.HK), Wynn Macau (1128.HK), MGM China (2282.HK), Galaxy Entertainment (0027.HK), MGM China (2282.HK) and SJM Holdings (0880.HK) under new 10-year contracts. Visitors pose for photos outside the Grand Lisboa casino operated by SJM Holdings during Lunar New Year in Macau, China, January 24, 2023. REUTERS/Lam Yik/File PhotoThe new contracts, with more government oversight and control, were struck after COVID-19 restrictions decimated Macau's gambling revenues and sent net debt soaring.

☆ Intel slashes employee, exec pay amid PC market downturn
▼ + stars: | 2023-02-01 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - Intel Corp (INTC.O) said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. Intel last week said its profit margins were plunging as the PC market cools after several years of growth during the pandemic. The company has also lowered its 401(k) matching program from 5% to 2.5% and suspended merit raises and quarterly performance bonuses, the person said. Annual performance bonuses based Intel's overall financial performance will remain but those bonuses have been smaller in recent years as the company has lost ground to rivals, the person added. Reporting by Stephen Nellis in San Francisco; Editing by Christopher Cushing and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

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