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Sept 6 (Reuters) - Intuit (INTU.O) launched an artificial intelligence-powered assistant on Wednesday to help clients in financial decision-making when using its products, ranging from tax-preparation tool TurboTax to bookkeeping software QuickBooks. The generative AI tool named "Intuit Assist" marks the latest effort by the financial software company to capitalize on the technology that has taken the world by storm after the rise of OpenAI's ChatGPT. The service uses the company's proprietary generative AI (GenAI) operating system designed to run with its own large language models. Chief Data Officer Ashok Srivastava told Reuters that Intuit's models "competed favorably" against sophisticated third-party rivals in accuracy tests conducted internally. The assistant is currently available to all TurboTax customers and select customers of Intuit's remaining products, with more features lined up for the 2023 tax season, the company said.
Persons: Ashok Srivastava, Arsheeya Bajwa, Akash Sriram, Shweta Agarwal Organizations: Intuit, Reuters, Thomson Locations: Bengaluru
STOCKHOLM, Aug 31 (Reuters) - Swedish electric vehicle (EV) maker Polestar's operating loss narrowed in the second quarter as the auto industry slowly recovers from pandemic-related supply chain bottlenecks. Delayed production starts, job cuts and mounting competition from new Chinese rivals have meant a tough year for the company. While some have cut prices to boost demand from consumers grappling with higher living costs, Polestar has maintained its premium pricing. The company posted a net loss per share of $0.14 in the quarter, compared with $0.12 a year ago. Cash and cash equivalents at the end of the quarter were $1.06 billion, compared with $884.3 million in the preceding three-month period.
Persons: China's Geely, Polestar, Thomas Peter Acquire, Thomas Ingenlath, Marie, Arsheeya, Alexander Smith, Mark Potter Organizations: Volvo, Beijing International Automotive, Auto, REUTERS, Reuters, U.S, Marie Mannes, Thomson Locations: STOCKHOLM, Swedish, Auto China, Beijing, China, Stockholm, Bangalore
Okta's shares rose 10% after the bell, after the company also raised its annual revenue and adjusted earnings forecast. It also raised its revenue expectations for fiscal year 2024 to $2.21 billion to $2.21 billion from $2.18 billion to $2.19 billion earlier. Subscription backlog, a measure of future revenue, rose 8% to $3.03 billion. The identification software provider's revenue rose 23% in the second quarter from a year earlier to $556 million, beating expectations of $534.5 million. Its peer Cyberark Software (CYBG.F) also topped quarterly revenue expectations in June, in a positive sign for the sector.
Persons: Dado Ruvic, Okta, Arsheeya Bajwa, Krishna Chandra Organizations: REUTERS, Microsoft, Thomson Locations: San Francisco, Asia, Bengaluru
In a damp, dungeonlike cell beneath a crumbling military fortress in northeast Queens, Dr. Waheed Bajwa and his team were counting sleeping mosquitoes and trying to divine the future. Soon the mosquitoes would awaken and secrete rafts of goo into puddles of standing water and lay hundreds of eggs onto them that would hatch into larvae that would feed and grow up and mate and lay eggs of their own — until sometime in late summer one of their great-great-great-great-great-great-great-great-great-great-granddaughters would bite a sparrow infected with West Nile virus and then, perhaps, a human. But that day was months off. On this balmy morning in mid-February, Dr. Bajwa, a mild-mannered, methodical, relentless medical entomologist who has spent 21 years heading the city Health Department’s Office of Vector Surveillance and Control, was hoping to find signs that the coming summer would be merciful. Last year saw the highest number of human West Nile cases since 1999, when the virus first appeared in the Western Hemisphere in Queens and killed four New Yorkers.
Persons: Waheed Bajwa, Bajwa Organizations: Health, Vector Locations: Queens
Aug 29 (Reuters) - Globalstar (GSAT.A) on Tuesday named former Qualcomm (QCOM.O) top boss Paul Jacobs as its CEO, sparking a near 20% surge in the shares of the satellite firm behind Apple's emergency communication services. Jacobs, 60, is also a board member of IPO-bound chip firm Arm and will replace David Kagan, who is retiring after about 5 years as CEO. It will pay XCOM licensing fees including the issuance of about 60 million common stock shares valued at around $64 million. "Some of XCOM's leaders contributed to the original Globalstar system while at Qualcomm." Iridium Comunications (IRDM.O) partnered with Qualcomm earlier in May to develop emergency SOS messaging for Android users, going head-to-head with Apple.
Persons: Paul Jacobs, Jacobs, David Kagan, Globalstar, Jay Monroe, Arsheeya, Devika Organizations: Qualcomm, XCOM Labs, Apple, Iridium, Thomson Locations: Bengaluru
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 23 (Reuters) - Analog Devices (ADI.O) forecast fourth-quarter revenue below Wall Street targets on Wednesday, in a sign that the chip industry inventory glut, fueled by weak consumer demand, might prevent fresh orders from flowing in. U.S.-based Analog Devices projected fourth-quarter revenue of $2.70 billion, plus or minus $100 million, compared with analysts' average estimate of $3.01 billion, according to Refinitiv data. Rival Texas Instruments (TXN.O) also forecast third-quarter revenue below market estimates as weak consumer demand prompted electronics makers to be cautious about buying chips. Analog Devices also forecast fourth-quarter adjusted earnings of $2 per share, plus or minus 10 cents, below analysts' estimate of $2.39 per share profit. Its third-quarter revenue fell about 1% to $3.08 billion, missing estimates, weighed by the consumer sector.
Persons: Dado Ruvic, Vincent Roche, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Research, Devices, Texas, ON Semiconductor, NXP Semiconductors, Thomson Locations: China, Vincent Roche ., Bengaluru
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 22 (Reuters) - International Business Machines (IBM.N) has agreed to sell its weather business to private equity firm Francisco Partners for an undisclosed sum, the technology services giant said on Tuesday. IBM will retain its sustainability software business. The Big Blue said Tuesday it plans to continue using The Weather Company's weather data for its software offerings focused on environmental insights. Francisco Partners did not immediately respond to a request for comment. The deal with Francisco Partners is expected to close in the first quarter of 2024 and is subject to regulatory approval.
Persons: Brendan McDermid, Rob Thomas, Arsheeya, Pooja Desai Organizations: IBM, New York Stock Exchange, REUTERS, Business Machines, Francisco Partners, Storm, NASA, Street Journal, Thomson Locations: New York, U.S, Watsonx, Bengaluru
Aug 21 (Reuters) - Axiom Space has raised $350 million in a funding round led by Saudi Arabia's Aljazira Capital and Korean healthcare firm Boryung as the startup works with NASA to develop a private space station. Axiom said the round took its total raise so far to $505 million and made it the space startup to receive the second-most funding in 2023, only behind Elon Musk's SpaceX. Axiom, which also has a $1.26 billion contract with the U.S. space agency NASA to develop spacesuits for use on the moon and other space programs, expects the first module of its private space station to launch by 2026. The company has also trained astronauts taken by SpaceX rockets to the International Space Station (ISS) as the once government-dominated space industry in the United States becomes increasingly privatized. Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Axiom, Arsheeya, Shailesh Organizations: Saudi Arabia's Aljazira, NASA, Elon, SpaceX, International Space, Thomson Locations: United States, Bengaluru
[1/4] Former Pakistani Prime Minister Imran Khan speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. Khan's political party, Pakistan Tehreek-e-Insaf (PTI), said in a statement it had already filed another appeal to the Supreme Court earlier on Saturday. Khan, 70, is a former cricket star who went on to forge a political career and who was prime minister from 2018 to 2022. Information Minister Marriyum Aurangzeb said in a broadcast statement that Khan's arrest followed a full investigation and proper legal proceedings in a trial court. Khan was convicted by the court in a case that was first investigated by the election commission, which found him guilty of unlawfully selling state gifts while prime minister.
Persons: Imran Khan, Akhtar Soomro, Shehbaz Sharif's, Intezar Panjotha, Bilal Siddique Kamiana, Khan, Marriyum Aurangzeb, Sharif, Shah Mehmood Qureshi, Khan's, Qamar Javed Bajwa, Asim Munir, Mubasher Bukhari, Gibran Naiyyar Peshimam, Charlotte, William Mallard, Simon Cameron, Moore, Frances Kerry, Giles Elgood Organizations: Pakistani, Reuters, REUTERS, Police, " Police, Central Adiala, wilfully, PTI, Thomson Locations: Lahore, Pakistan, LAHORE, Islamabad, Central, Rawalpindi, Toshakhana, Khan's, Karachi, Charlotte Greenfield
[1/2] Pakistan security forces guard a vehicle carrying former Prime Minister Imran Khan after his arrest at a court in Islamabad, Pakistan, May 9, 2023. REUTERS/StringerMay 9 (Reuters) - Former Pakistan Prime Minister Imran Khan, a cricketing hero-turned-politician who was arrested on Tuesday, whipped up popular support amid decades-high inflation and a crippling economic slowdown before his ouster last year. Khan had for months averted arrest in a number of cases registered against him that include charges of instigating crowds to violence. His rise to power in 2018 came over two decades after he first launched his political party, the Pakistan Tehreek-i-Insaf (PTI), or Pakistan Movement for Justice party, in 1996. Once in power, Khan embarked on his plan of building a "welfare" state modelled on what he said was an ideal system dating back to the Islamic world some 14 centuries earlier.
[1/3] Former Pakistani Prime Minister Imran Khan, gestures as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. Prime Minister Shehbaz Sharif's government has denied being behind the cases. Khan said there is no reason he should be arrested now, because he had bail on all his cases. The police attempt to arrest Khan led to clashes in which dozens of people were injured. The former prime minister has generated popular support among Pakistanis amid decades-high inflation and a crippling economic slowdown as the country implements painful fiscal reforms to avert default.
Pakistan's former President Musharraf buried in Karachi
  + stars: | 2023-02-07 | by ( ) www.reuters.com   time to read: +2 min
[1/4] Army vehicles escort ambulances, carrying the body of Pakistan's former President Pervez Musharraf during his funeral in Karachi, Pakistan February 7, 2023. REUTERS/Akhtar SoomroKARACHI, Feb 7 (Reuters) - Pakistani former President Pervez Musharraf, a key U.S. ally in the campaign against al Qaeda following the Sept. 11, 2001, attacks on the United States, was buried in his hometown of Karachi on Tuesday. He was buried at the Army Graveyard in Karachi. This decision contradicted Pakistan's long-standing support for the Taliban, who still controlled Afghanistan until their ouster in late 2001, and made Musharraf a target for domestic militant groups. Prime Minister Sharif, the president and the army chief did not attend.
Even when a civilian government holds power, Pakistan's generals retain a dominant influence over security matters and foreign affairs. He later headed Pakistan's two most influential intelligence agencies - Military Intelligence (MI) in 2017 and then the Inter-Services Intelligence (ISI) in 2018. WHY IT MATTERS GLOBALLYPakistan's army chief will play a key role in managing risks of conflict with nuclear-armed rival India on its eastern border, while dealing with potential instability and friction with Afghanistan on its western frontier. The incoming army chief could potentially play a key role in lowering the political temperature as Pakistan attempts to survive an economic crisis and recover from historic floods. He even summoned Pakistan's top industrialists to a meeting at army headquarters to encourage them to pay more tax.
Lt. Gen. Asim Munir will be Pakistan’s next chief of army staff, a position widely considered to be the country’s most powerful office. ISLAMABAD, Pakistan—A general who was removed from leadership of Pakistan’s spy agency by former Prime Minister Imran Khan will take over as the country’s next army chief. Lt. Gen. Asim Munir will succeed Gen. Qamar Javed Bajwa , who will retire next week, the government of Prime Minister Shehbaz Sharif announced Thursday. The chief of army staff position is widely thought to be the most powerful office in a country that has seen multiple coups, and where the military exerts massive influence over the government and policy even when not formally in power.
ISLAMABAD, Nov 24 (Reuters) - Pakistan on Thursday named Lieutenant-General Asim Munir as chief of the army, an organisation that plays an extraordinarily influential role in the governance of the nuclear-armed nation. Munir, who was also Pakistan's chief spy, will take over from outgoing General Qamar Javed Bajwa, who retires later this month after a six-year term, the defence ministry said. "It is based on merit, law and as per constitution," Defence Minister Khawaja Asif told reporters after announcing the Munir as the new chief. On Wednesday, outgoing army chief Bajwa said the military would have no role in national politics in the future, rejecting as "fake and false" Khan's claims that a U.S.-backed conspiracy topped his government. Reporting by Gibran Peshimam; Editing by Neil Fullick and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
ISLAMABAD, Nov 23 (Reuters) - Pakistan's outgoing army chief rejected on Wednesday as "fake and false" claims by ousted prime minister Imran Khan that a U.S.-backed conspiracy had toppled his government, and also said the military would play no role in national politics in future. The former premier has also alleged that the military played a role in his ousting, a charge the army has denied. "A state of hysteria was created in the country on the pretext of a fake and false narrative," the army chief said about Khan's main accusation that Washington supported his removal with the help of a local handler. Over the weekend, Khan said that even if the military had not been involved it could still have saved his government. Khan's party spokesman Fawad Chaudhry told Reuters he had no comment on the army chief's remarks.
Even when a civilian government holds power, Pakistan's generals retain a dominant influence over security matters and foreign affairs. BAJWA'S LEGACYAppointed chief in 2016, Bajwa sought to balance ties with China and the United States. He even summoned Pakistan's top industrialists to a meeting at army headquarters to encourage them to pay more tax. WHY IT MATTERS GLOBALLYPakistan's army chief will play a key role in managing risks of conflict with nuclear-armed rival India on its eastern border, while dealing with potential instability and friction with Afghanistan on its western frontier. The incoming army chief could potentially play a key role in lowering the political temperature as Pakistan attempts to survive an economic crisis and recover from historic floods.
ISLAMABAD — Pakistan’s elections commission on Friday disqualified former Prime Minister Imran Khan from holding public office for five years, accusing him of unlawfully selling state gifts and concealing assets, his spokesman and officials said. Chaudhry condemned the move and urged Khan’s supporters to protest publicly. Balkh Ser Khosa, a prominent lawyer, said the commission disqualified Khan from holding public office because he unlawfully sold state gifts given to him by other countries when he was in power. Banaras Khan / AFP via Getty ImagesLaw Minister Azam Nazir Tarar confirmed that the commission found Khan guilty of the charges. Tarar said Khan has been disqualified from holding public office for five years.
European startups like Sequence and Numeral want to establish themselves as the region's leaders. In March, the valuation of Californian startup Modern Treasury spiked to $2 billion as it established itself as an early leader in the burgeoning FinOps sector. In Europe, FinOps startups have captured the attention of a wealth of venture capital firms hoping to be an early backer in the region's own Modern Treasury. The US payments market is notoriously fragmented with some 5,000 banks and no universal real-time settlements platform. Indeed, investment into European startups plummeted by 38% in the second quarter of the year to $23.7 billion, according to Crunchbase data.
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