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☆ ChatGPT ignited a new A.I. craze. What it means for tech companies and who's best positioned to benefit
▼ + stars: | 2023-02-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +8 min

Since the launch of ChatGPT late last year, no one in the tech world can seem to stop talking about artificial intelligence. CEO Sundar Pichai announced Thursday that the company will launch its LaMDA language model and new AI features "very soon ." But it's not just technology companies rethinking AI. We combed through earnings transcripts available through FactSet to find out what some of the biggest tech companies are saying about the latest craze and who could benefit the most. Preparing for an 'AI arms race' in tech There's no question that Microsoft stands to gain from ChatGPT and the AI push on Wall Street.

☆ The era of health insurance disruptors is over
▼ + stars: | 2023-02-02 | by ( ) www.businessinsider.com time to read: +10 min

Today, they're mostly the poster children of just how challenging it is to break into the insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderOscar, founded in 2012, and Bright, in 2015, set out to sell health plans to people buying coverage through the Affordable Care Act marketplace. Elevance Health, the parent company of Anthem health plans, is No. Health insurance remains overly complex and mind-numbingly frustrating. Established health insurers haven't been able to stem the rise in health costs, which are mostly determined by the prices for medical care.

☆ U.S. investors have plowed billions into China's AI sector, report shows
▼ + stars: | 2023-02-01 | by ( Alexandra Alper | ) www.reuters.com time to read: +2 min

According to the report, 167 U.S. investors took part in 401 transactions, or roughly 17% of the investments into Chinese AI companies in the period. Those transactions represented a total $40.2 billion in investment, or 37% of the total raised by Chinese AI companies in the 6-year period. According to the report, U.S. investor GSR Ventures invested alongside China's IFlytek Co Ltd (002230.SZ) in a Chinese AI company after the speech recognition firm was added to a trade blacklist. Silicon Valley Bank and Wanxiang American Healthcare investments group made investments in Chinese AI firms alongside China's Sensetime before the powerhouse in facial recognition technology was added to the same trade blacklist. Only one Chinese AI company that received funding from U.S. investors is involved in developing AI applications for military or public safety uses, according to CSET.

☆ Yellen says Russian oil price cap could save African countries $6 bln annually
▼ + stars: | 2023-01-20 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/2] U.S. Treasury Secretary Janet Yellen speaks during her interview with Reuters in New Delhi, India, November 11, 2022. Yellen said ending the war would be the best thing to help the global economy, but Treasury estimated that a Group of Seven-led price cap on Russian crude oil and refined products to limit Russia's revenues could save the 17 largest net oil-importing African countries $6 billion annually. G7 countries and Australia implemented the oil price cap on Dec. 5, banning the use of Western-supplied maritime insurance, finance and other services for cargoes priced above $60 per barrel. A further cap on Russian refined petroleum products, such as diesel and fuel oil, is due to take effect on Feb. 5. "We believe that the international community, including China, needs to provide meaningful debt relief to help countries regain their footing," she said.

☆ Crypto lender Genesis reportedly owes creditors $3 billion, and is eyeing the sale of its parent company's venture assets to raise funds
▼ + stars: | 2023-01-12 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Crypto lender Genesis owes its creditors more than $3 billion, the Financial Times reported on Thursday. Genesis' parent company DCG may sell assets in its venture portfolio to raise fresh cash. Genesis' lending arm took hits after FTX filed for bankruptcy, causing a liquidity crisis late last year. Digital Currency Group (DCG), the crypto conglomerate that oversees Genesis, is also looking to sell assets in its venture portfolio to raise fresh cash, per the Financial Times. In November, Gemini had to halt withdrawals for its interest-bearing product due to a liquidity crisis with Genesis, its lending partner.

☆ KKR's top tech exec details the firm's 3-year migration to the public cloud, and how the PE giant is leveraging the tech to streamline how deals get done
▼ + stars: | 2023-01-10 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

KKR is moving its technology and infrastructure to the public cloud by year end. The finish line is in sight for Emilia Sherifova, KKR's top tech exec who is spearheading the firm's multi-year migration to the public cloud. KKR's cloud migration has been years in the making. Under Sherifova, KKR has more than doubled its number of cloud-focused engineers, she said, declining to specify numbers. No longer are regulatory and security concerns barring finance players from moving mission-critical systems, like exchanges' matching engines and banks' core banking platforms, to the public cloud.

I used to set unrealistic New Year's resolutions, like swearing I won't eat out all year to save more money. This year, I'm setting five microsavings goals to help me save $2,750 and invest $1,050 by the end of the year. That surprise money made such an impact on me that I decided to apply it to my 2023 savings goals. To meet that savings goal, I'm saving 10% of my paycheck, roughly $200, until April 2023. After buying my laptop in April 2023, I plan on saving 5% of my paycheck, roughly $100, toward my Oaxaca trip.

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☆ Kraken's incoming CEO shares 5 major crypto trends for 2023, including what he believes will be the leading use-cases
▼ + stars: | 2022-12-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

David Ripley says crypto price drops tend to expose those that aren't following proper protocol. Earlier this year, FTX swooped in to try and save the distressed firms, posing as the blue-chip of crypto companies. David Ripley, COO at crypto exchange Kraken and incoming CEO of the firm, says price drops tend to expose those that aren't following proper protocol. It will take the crypto from being just a global payment mechanism to a fast and low-cost global payment network. As for major providers in the space, trusted and reliable crypto companies will see an increase in their market share to fill the demand, he said.

[1/7] U.S. President Joe Biden delivers keynote remarks at a U.S.-Africa Business forum at the 2022 U.S.-Africa Leaders Summit in Washington, U.S., December 14, 2022. "The United States is 'all in' on Africa's future," Biden told African leaders attending a three-day summit in Washington. Beijing has held its own high-level meetings with African leaders every three years for more than two decades. For their part, many African leaders reject the idea that they need to choose between the United States and China. "The fact that both countries have different levels of relations with African countries makes them equally important for Africa's development," Ethiopia's U.N. ambassador, Taye Atske Selassie Amde, told Reuters.

☆ India plans changes to capital gains tax structure in next budget - source
▼ + stars: | 2022-11-15 | by ( Nikunj Rajesh Ohri | ) www.reuters.com time to read: +1 min

NEW DELHI, Nov 15 (Reuters) - India is planning changes to its capital gains tax structure in the next budget, seeking to bring parity among tax rates and holding periods for investments across equity, debt and immovable property. Currently, asset classes are not taxed uniformly and have different holding periods for levying capital gains tax, which needs to be aligned, an official involved in the process said on condition of anonymity. The government has received several proposals from the industry to simplify the capital gains tax structure, and changes are expected in the Budget for 2023/24, the official said without disclosing more details as discussions are confidential. Investments in equity or equity-linked mutual funds for more than one year are considered as long-term, and attract a 10% tax on gains of more than 100,000 rupees. Investments in equity held up to one year are considered short-term and attract a 15% tax.

☆ Panasonic to start building Kansas battery plant next month
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +3 min

The conglomerate also lowered its full-year operating profit forecast to 320 billion yen ($2.16 billion) from 360 billion yen for the year ending March 31. That compares with a 349.9 billion yen average forecast by 19 analysts. Panasonic posted an 11% drop in second-quarter operating profit, but performed better than analysts' estimates. It reported 86.1 billion yen ($582.54 million) in operating profit for the three months to end-September, versus an average 81.6 billion yen profit estimated by nine analysts, according to Refinitiv data. Panasonic has said that, by 2029, it plans to expand its battery production capacity by three to four times, with most of the increase in North America.

☆ A housing crisis is upon us — but a church group in Virginia is taking a big swing at homelessness by pairing up roommates, subsidizing their rent, and offering counseling
▼ + stars: | 2022-10-30 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

A small church organization in Virginia is helping unhoused people get back into permanent homes. In addition to losing access to stable housing, Walker says, people lose access to their communities. "Homelessness can be life changing, it can be a matter of life and death," Walker told Insider. His monthly disability payment — under $800 — is less than the median Virginia Beach rent of more than $1,000 for a one-bedroom apartment. Research shows that providing housing subsidies, alongside case management and supportive services, can help people experiencing chronic homelessness achieve long-term housing stability.

☆ Inflation bonds have surged in popularity amid a flight to safety. Why they may also be a good opportunity for younger investors
▼ + stars: | 2022-10-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Investments in the U.S. Treasury's Series I savings bonds have surged this year as prices climbed and so far show few signs of easing. I bonds offer holders a standard fixed rate together with a variable rate that shifts every six months, the latter depending on the latest consumer price index numbers. Even putting a few thousand dollars in the bond could offer a decent cash cushion for times ahead, she said. While a safe haven for cash, I bonds are not an alternative to investing, McLoughlin said. Despite the market's dismal performance this year, equities offer much better returns for those with longer time horizons, she said.

☆ Yellen says chips, research investments will boost U.S. economic capacity
▼ + stars: | 2022-10-21 | by ( David Lawder | ) www.reuters.com time to read: +2 min

HERNDON, Va., Oct 21 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Friday that domestic investments in semiconductors and research would help reverse a longstanding innovation deficit and increase the productive capacity of the U.S. economy. Yellen, speaking at a business incubator in the Washington, D.C. area's Dulles technology corridor, said that the U.S. lead in technology innovation has increasingly come under threat from China and other competitors. "Our government's failure to invest in innovation has had wide-ranging impacts on our long-term economic well-being. Mobilizing capital toward semiconductors and clean energy, through a recently enacted climate and drugs package and boosting research and development will raise the U.S. economy's aggregate production capacity. "And in turn, we are raising America's long-term economic outlook," Yellen said.

☆ Yellen to tout Biden technology investments at Virginia business incubator
▼ + stars: | 2022-10-20 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 19 (Reuters) - U.S. Treasury Secretary Janet Yellen is set to resume her campaign-style promotion of President Joe Biden's economic initiatives on Friday, visiting a Virginia business incubator to tout U.S. investments in research, semi-conductors, clean energy and other technologies. The Treasury said Yellen will deliver remarks and meet with entrepreneurs at the Virginia Innovation Partnership Corp (VIPC) in Herndon, Virginia, a booming Washington suburb near Dulles International Airport. Register now for FREE unlimited access to Reuters.com RegisterLast month, Yellen made similar speeches to tout infrastructure and electric vehicle investments in Detroit and visited a solar power developer in North Carolina. The Washington Metro transit system is set to soon open a nearby stop on its Dulles line called Innovation Center. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Brembo sets up venture capital arm to invest in tech startups
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 19 (Reuters) - Premium brakes maker Brembo (BRBI.MI) said on Wednesday it had set up an internal venture capital unit, called Brembo Ventures, to accelerate the development of technologic solutions to be applied to the automotive industry. A spokesman for the group said Brembo Ventures was a unit and not set up as a proper venture capital fund with an initial financial endowment. Register now for FREE unlimited access to Reuters.com RegisterBrembo Ventures will invest in startups globally, focusing on artificial intelligence, big data, sensors, mechatronics, energy efficiency and sustainability, it said in a statement. "With Brembo Ventures, we are even more structured to seize the market opportunities that can contribute to our goal of redefining future of braking systems and mobility," Brembo's Chief Business Development Officer Roberto Grazioli said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks are giving some clues that there could be a Republican congressional sweep, Strategas says
▼ + stars: | 2022-10-15 | by ( Patti Domm | In | ) www.cnbc.com time to read: +7 min

At the same time, odds for a Republican sweep on Nov. 8 have risen. Individual solar and other renewable names are also down sharply, like First Solar, which is in the Strategas Democratic portfolio. Clifton said his portfolios are pointing to a 60% chance of a Republican sweep, while betting markets are at 50/50. Among the holdings in the Republican portfolio are companies that would benefit from distribution and transportation of oil and gas, like Enterprise Products Partners. "The market is increasingly pricing in a Republican sweep.

☆ Biden Faces South Korea Backlash Over New EV Tax-Credit Rules
▼ + stars: | 2022-09-28 | by ( Timothy W. Martin | Jiyoung Sohn | ) www.wsj.com time to read: 1 min

SEOUL—During a visit to Seoul in May, President Biden stood at a courtyard podium flanked by the head of Hyundai Motor Group. The South Korean auto maker had just pledged more than $10 billion in U.S. investments, creating thousands of new American jobs. Mr. Biden thanked Hyundai’s Euisun Chung for helping the two countries work toward an electric-vehicle future. “We will not let you down,” Mr. Biden said.

☆ As the pound tanks, Goldman and others reveal the UK stock market's likely winners and losers
▼ + stars: | 2022-09-27 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

The British pound continued its slide against the U.S. dollar this week, hitting a new record low against the greenback Monday. Goldman Sachs European strategist Sharon Bell said the bank expects the pound to trade at around $1.05 over the next three months. Winners Secker is overweight the blue-chip FTSE 100 , which he believes is "arguably the ultimate 'weak FX' play." "The losers in the U.K. are the small-and-mid cap companies that are importing raw materials, which has now become more expensive. The FTSE 250 , which is more domestic than the FTSE 100, will also tend to suffer, all else equal, as sterling falls," Bell said.

☆ U.S. lawmakers want Biden to take action on outbound investment to China
▼ + stars: | 2022-09-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Sept 27 (Reuters) - A group of lawmakers including House Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer and Republican Senator John Cornyn on Tuesday called on U.S. President Joe Biden to issue an executive order on outbound investments to China and others. Congress has been considering legislation that would give the U.S. government sweeping new powers to block billions in U.S. investment into China. White House national security official Peter Harrell earlier this month said that the Biden administration has not yet made a final decision on a potential outbound investment mechanism regulating U.S. investments in China. Harrell stressed that any measure targeting such investments should be narrowly tailored to address gaps in existing U.S. authorities and specific national security risks. "When we cede our manufacturing power and technological know-how to foreign adversaries, we are hurting our economy, our global competitiveness, American workers, industry and national security.

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See Insider's list of the best real estate investing apps»Channel-surfing these days will almost certainly lead you into some iteration of real estate, from realtors' million-dollar listings to DIY-ers house-flipping. Real estate crowdfundingReal estate crowdfunding is a strategy that allows enterprises to raise capital from large groups of individuals. Real estate investment trusts (REITs)If you want to wade into real estate, investing in a real estate investment trust (REIT) will provide exposure to the market without the time and cost commitment of buying your own property. Strategies for successful real estate investingWhatever form your real estate investment takes, certain strategies will stand you in good stead. Pure investment plays — which don't involve hands-on management from you — include real estate crowdfunding, investing in real estate limited partnerships, and buying into real estate investment trusts.

Also called managed portfolios, most robo-advisors use an algorithm to match customers with professionally designed portfolios. Some robo-advisors include the option to discuss your investments with a human financial planner, which can put worries over computer-managed investment accounts to rest. Here are seven top reasons why you might pick a robo-advisor to help you save for retirement. You'll answer questions about your age, investment goals, risk tolerance, and other factors that the algorithm needs to pick your ideal investment portfolio. Robo-advisors generally cost less than traditional advisorsMany traditional financial advisors charge based on assets under management.

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In a survey from Kiplinger and Personal Capital, Americans said that high health insurance costs, disappointing investment performance, and debt are keeping them from saving for retirement. Rising healthcare costs are a major concern of Americans of all ages. Personal finance site Kiplinger and digital wealth manager Personal Capital asked 850 Americans what stood in the way of saving for retirement. The data shows that three main factors have put a strain on Americans' ability to save for retirement: healthcare costs, poor investment performance, and debt. For many Americans, high costs of living and the resulting debt is standing in the way of saving for retirement and building long-term wealth.

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