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☆ Microsoft aims for AI-powered version of Bing - The Information
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

Jan 3 (Reuters) - Microsoft Corp (MSFT.O) is in the works to launch a version of its search engine Bing, using the artificial intelligence behind OpenAI-launched chatbot ChatGPT, The Information reported on Tuesday, citing two people with direct knowledge of the plans. Microsoft said in a blog post last year that it planned to integrate image-generation software from OpenAI, known as DALL-E 2, into Bing. OpenAI declined to comment, while Microsoft did not immediately respond to Reuters' request for comment. The San Francisco-based artificial intelligence company OpenAI was backed by Microsoft with $1 billion in funding in 2019. The two had formed a multi-year partnership to develop artificial intelligence supercomputing technologies on Microsoft's Azure cloud computing service.

Interest in this niche breed of cryptocurrencies, typically linked to sports teams like Barcelona or Brazil, has been charged up by the soccer World Cup which began on Nov. 20. The token of Lionel Messi's Argentina side slumped 25% to $5.26 following the team's shock defeat by Saudi Arabia in their opening World Cup game. The broader crypto market malaise is partly to blame for price drops, according to researchers who said the flighty assets were wilting as investors shunned risk. "But the first perception should never be that you're buying the fan token from a profit-generating standpoint." It facilitates trading of most fan coins, describing buying such tokens as joining a loyalty scheme with exclusive benefits and prizes.

NEW YORK/LONDON, Nov 22 (Reuters) - FTX has a total cash balance of $1.24 billion, a court filing by advisers on the stricken crypto exchange's restructuring showed ahead of U.S. bankruptcy hearings set for later on Tuesday. Its cash balance as of Sunday was "substantially higher" than previously thought, Monday's filing by Edgar Mosley of Alvarez & Marshal, a consultancy firm advising FTX, said. The details of FTX's cash balances came ahead of a hearing in Delaware on FTX's so-called first-day motions. FTX, led since the bankruptcy filing by new CEO John Ray, has accused Bankman-Fried of working with Bahamian regulators to "undermine" the U.S. bankruptcy case and shift assets overseas. Since the implosion of FTX, some crypto players are taking to decentralized exchanges known as "DEXs" where investors trade peer-to-peer on the blockchain.

☆ Crypto lender Genesis says no immediate plans to file for bankruptcy
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

Nov 21 (Reuters) - Cryptocurrency lender Genesis said on Monday it has no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX forced it to suspend customer redemptions. "We have no plans to file bankruptcy imminently. Also, the Wall Street Journal reported, citing sources that the company approached crypto exchange Binance seeking an investment but Binance decided against it, fearing a conflict of interest down the line. Last week, Genesis Global Capital suspended customer redemptions in its lending business, citing the sudden failure of Sam Bankman-Fried's crypto exchange FTX. Crypto exchange Gemini, which runs a crypto lending product in partnership with Genesis, tweeted on Monday that it was continuing to work with the company to enable its users to redeem funds from its yield-generating "Earn" programme.

☆ Russia's Lukoil rejects U.S. private equity firm's offer to buy its Sicily refinery - FT
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

The report added that Lukoil remains reluctant to sell its Italian refinery to Crossbridge, a decision that could risk thousands of jobs as well as potentially bankrupt the refinery. Lukoil's ISAB refinery in Sicily accounts for around 20% of Italian refining capacity. ISAB has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees needed to buy oil from alternative suppliers. Lukoil and Crossbridge Energy did not immediately respond to Reuters' request for comment. ($1 = 1.0063 euros)Reporting by Rishabh Jaiswal in Bengaluru; Editing by Chris Reese and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Judge asks Rogers, Shaw and competition bureau to convene for talks on Tuesday
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Canada Federal Court Chief Justice Paul Crampton has directed counsel for Rogers Communication Inc (RCIb.TO), Shaw Communications Inc (SJRb.TO) and the Competition Bureau to convene for a further case management conference on Tuesday. Chief Justice Crampton, who is presiding over an antitrust case against Rogers' takeover of Shaw, also asked all the parties to "reflect" about the deal, according to a notice posted on the Competition Tribunals's website. The mediation between Rogers and Shaw and Canada's competition bureau over the companies' C$20 billion ($14.69 billion) merger failed on Thursday, as the parties did not agree on the terms put forward by the tribunal. read moreRogers declined to comment when Reuters reached out to the company about the ruling, while Shaw and the Competition Bureau did not respond to requests for comment. read more($1 = 1.3612 Canadian dollars)Reporting by Rishabh Jaiswal and Juby Babu in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Credit Suisse nears sale of securitized-products group to Apollo, Pimco - source
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 26 (Reuters) - Credit Suisse (CSGN.S) is nearing a deal to sell its securitized-products group to investors Apollo Global Management (APO.N) and Pacific Investment Management Co, a person familiar with the matter told Reuters on Wednesday. The Wall Street Journal, which first reported about the development, said Credit Suisse will give details of the sale and other measures for a planned strategy change on Thursday. The consortium including Pimco, a big bond manager, and Apollo, a large alternative asset manager, beat out a group comprised of Centerbridge Partners and Martello Re Ltd., a life and reinsurance company, the WSJ report added. Credit Suisse and Pimco declined to comment, while Apollo, Centerbridge and Martello did not immediately respond to Reuters' requests for comment. Last week, Reuters reported that money managers Janus Henderson Group (JHG.N) and investment firms including Blue Owl Capital Inc (OWL.N) are weighing potential offers for the Swiss bank's U.S. asset management unit.

☆ UK's Hunt to propose 'stealth' income tax rise to fill 40 bln pound fiscal hole-FT
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

Oct 21 (Reuters) - UK Chancellor Jeremy Hunt is set to propose a stealth rise in income tax after the next elections to fill a fiscal hole of 40 billion pounds ($45.21 billion), the Financial Times reported on Friday, citing two government sources briefed on his plan. Hunt will extend the current freeze on income tax thresholds and allowances into the next UK parliament, raising around five billion pounds per year by 2027-28, the FT report said, citing government sources. The chancellor is also expected to put off capital projects and squeeze public spending after the next election, which must be held by January 2025, the FT added, citing people briefed on his plans. Register now for FREE unlimited access to Reuters.com RegisterContacted by Reuters, the UK Treasury said it does "not comment on speculation around tax changes outside of fiscal events." Hunt reiterated on Friday that the government will do "whatever is necessary to get drive down debt in the medium term."

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