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☆ Swan, a French embedded-finance startup, just raised $39.2 million using this 15-slide pitch deck
▼ + stars: | 2023-09-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: 1 min

Paris-based Swan has raised $39.2 million in Series B funding from Lakestar. Founded in 2019, the company offers banking-as-a-service and embedded finance products via an API. The startup will use its new funding to expand into new European markets. Swan, a banking-as-a-service fintech startup, has raised $39.2 million in new funding, which it plans to invest into its expansion into new European markets. Paris-based Swan provides a banking-as-a-service (BaaS) and embedded finance platform allowing companies to offer banking services to their customers.

Persons: Swan Organizations: Carrefour Locations: Paris, Lakestar

November Brent crude futures rose 28 cents to $90.92 a barrel at 0300 GMT, while U.S. West Texas Intermediate crude futures for October edged 35 cents higher to $87.64. The U.S. Federal Reserve is widely expected to leave interest interest rates unchanged at a policy meeting next week, though views are split over whether the Fed will raise rates or pause again in November. The European Commission on Monday forecast the euro zone to grow more slowly than previously expected in 2023 and 2024. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lackluster macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast for 2024 unchanged.

Persons: Nathan Frandino, Brent, Tina Teng, Teng, OPEC's, Jeslyn Lerh, Stephanie Kelly, Jamie Freed Organizations: Phillips, American West, REUTERS, bbl, Brent, U.S, West Texas, Traders, CMC, U.S . Federal Reserve, European Central Bank, European, Investors, International Energy Agency, Organization of, Petroleum, IEA, Thomson Locations: Rodeo , California, American, U.S, SINGAPORE, Europe, Saudi Arabia, Russia, China, OPEC, Singapore, New York

☆ AI expert is a hot new position in the freelance jobs market
▼ + stars: | 2023-09-10 | by ( Ophelia Anwah | ) www.cnbc.com time to read: +6 min

Three years ago, becoming an AI expert would involve "deep knowledge in machine learning algorithms, deep learning AI in general, and a lot of technical things," said Hu, who works through Fiverr on chatbot implementation projects. The rise of generative AI is rapidly reshaping the freelance tech job market, with AI-related job posts from employers and searches among job seekers surging across career and freelance job platforms, including LinkedIn, Upwork and Fiverr. There is opportunity for freelancers expert in AI to take advantage of the lack of AI skills among existing industry professionals, across sectors of the economy. She added that independent methods of education, including YouTube videos or blogs focused on AI skills, are becoming more sought after in the workforce. Hu said to start with the basics, including use of OpenAI tools, like ChatGPT, ChatGPT API, Dall-E, and davinci.

Persons: —, Hu, Vlad Hu, Hu isn't, Fiverr, Karin Kimbrough, we've, Margaret Lilani, Lilani, Victoria Papalian Organizations: LinkedIn, Microsoft, Freelance Locations: Fiverr, U.S

☆ Oil falls as concerns about China outweigh extended cuts
▼ + stars: | 2023-09-07 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. Both benchmarks had spiked earlier in the week after Saudi Arabia and Russia, the world's top two oil exporters, extended voluntary supply cuts to the year-end. But crude imports surged 30.9%. "The wind has been taken out of the bulls' sail overnight by rising Chinese product exports last month albeit crude oil imports rose," PVM Oil analyst Tamas Varga said. Concerns about rising oil output from Iran and Venezuela, which could balance out a portion on cuts from Saudi and Russia, kept a lid on the market as well.

Persons: Agustin Marcarian, Brent, Tamas Varga, Leon Li, Trixie Yap, Jason Neely Organizations: REUTERS, U.S, West Texas, Markets, American Petroleum Institute, U.S . Energy, Administration, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, China, Saudi Arabia, Russia, Iran, Venezuela, Saudi, Shanghai, Singapore

☆ Oil falls on concerns about China, winter demand
▼ + stars: | 2023-09-07 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. Brent crude futures fell 36 cents to $90.24 a barrel by 0645 GMT, after a nine-session winning streak. U.S. West Texas Intermediate crude (WTI) futures fell 37 cents to $87.17 a barrel after seven sessions of gains. Concerns about rising oil output from Iran and Venezuela, which could balance out a portion on cuts from Saudi and Russia, kept a lid on the market as well. Helping support prices, U.S. crude oil inventories were projected to have fallen by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures.

Persons: Agustin Marcarian, Brent, Leon Li, Li, Trixie Yap, Stephanie Kelly, Jacqueline Wong, Muralikumar Anantharaman, Edwina Gibbs Organizations: REUTERS, . West Texas, Markets, U.S, American Petroleum Institute, U.S . Energy, Administration, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, SINGAPORE, China, Saudi Arabia, Russia, Shanghai, Iran, Venezuela, Saudi, OPEC, Caracas, Singapore, New York

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. U.S. crude oil inventories were projected to fall by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures released after market settlement. Brent crude futures edged up 12 cents to $90.72 a barrel by 0019 GMT, while U.S. West Texas Intermediate crude (WTI) futures gained 11 cents to $87.65. Prices spiked on Tuesday after Saudi Arabia and Russia extended voluntary oil supply cuts to the year-end. The Saudi cuts were by 1 million barrels per day (bpd) while Russia has cut 300,000 bpd.

Persons: Agustin Marcarian, Stephanie Kelly, Jacqueline Wong Organizations: REUTERS, American Petroleum Institute, U.S . Energy, Administration, Brent, U.S, West Texas, Saudi, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, New York

☆ One of the most successful VCs in cybersecurity, Ted Schlien, names 3 new trends to watch
▼ + stars: | 2023-09-07 | by ( Julie Bort | ) www.businessinsider.com time to read: +5 min

One of Kleiner Perkins longest-serving investors quietly launched a firm to specialize in security startups. Schlein sees three big new security markets, including an area he's "most scared about." That's partly because strong security startups tend to command higher-than-typical prices when acquired, Schlein says. Security startup trendsSchlein says he currently sees three big trends for next-gen cybersecurity startups. While at Kleiner, Schlein backed startup Apurio, and wrote a check at Ballistic for ArmorCode.

Persons: Kleiner Perkins, Ted Schlein, Schlein, It's, he's Organizations: Ballistic Ventures, Symantec, Security, Companies, Cequence, IT, Software, Hewlett, Packard, ArmorCode Locations: Kleiner

☆ South Korea is working on an 'arsenal ship' in case it has to shower North Korea with missiles
▼ + stars: | 2023-08-31 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

If completed, they would be the first arsenal ships ever built and would mark another accomplishment for South Korea's burgeoning defense industry. AdvertisementAdvertisementThe arsenal shipAn illustration of a possible arsenal ship published in the US Navy's All Hands magazine in May 1995. South Korean interestA North Korean Hwasong ICBM in March 2022. Given the number and types of missiles South Korea's arsenal ships would carry, they could be involved in all three axes — all while staying mobile. AdvertisementAdvertisementHanwha Ocean's arsenal shipFew details about South Korea's arsenal ship program have been released.

Persons: Shoup, Neil Mabini, Haeseong Organizations: South, North, Service, International Maritime Defense Industry, South Korean, South Korea's Ministry of National Defense, US Navy, US, Russian Navy, Navy, RIM, MGM, Tactical Missile System, Air Force, Getty, Korea Air and Missile Defense, Korean, Daewoo Shipbuilding, Marine Engineering, Naval News, South Korea Defense Ministry, NUR Locations: North Korean, Wall, Silicon, South Korean, Busan, Soviet Union, Korean, Korea, Seoul, South Korea

Analysts polled by Reuters prior to the data had estimated on average a draw of 3.3 million barrels. The offshore Gulf of Mexico accounts for about 15% of U.S. oil output and about 5% of natural gas production, according to the Energy Information Administration (EIA). Oil major Chevron Corp CVX.N evacuated some staff from the region, but production was continuing at the sites its operates in the Gulf of Mexico. Oil supply is expected to remain tight as analysts expect Saudi Arabia, the world's biggest oil exporter, will extend its voluntary output cut into October. However, worries about fuel demand and the mixed economic situation in China, the world's biggest oil importer, kept a lid on prices.

Persons: Lucy Nicholson, Toshitaka Tazawa, Yuka Obayashi, Trixie Yap, Christian Schmollinger, Kim Coghill Organizations: REUTERS, Brent, . West Texas, U.S, American Petroleum Institute, Reuters, Fujitomi Securities Co, Hurricane, Energy Information Administration, . Oil, Chevron Corp CVX.N, Capital, Thomson Locations: Bakersfield , California, SINGAPORE, U.S, Gulf, Mexico, Gulf of Mexico, Saudi Arabia, Asia, Gabon, China, Tokyo, Singapore

☆ Oil prices rise on large U.S. stockpile draw, hurricane jitters
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: +2 min

Malo deepwater oil platform stands in the Gulf of Mexico in the aerial photograph taken off the coast of Louisiana, on Friday, May 18, 2018. Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge. Analysts polled by Reuters prior to the data had estimated on average a draw of 3.3 million barrels. Oil major Chevron Corp evacuated some staff from the region, but production was continuing at the sites its operates in the Gulf of Mexico. Official crude stockpile data from the EIA is due at 1430 GMT on Wednesday.

Persons: St, Toshitaka Tazawa Organizations: Chevron Corp, Brent, . West Texas, U.S, greenback, American Petroleum Institute, Reuters, Fujitomi Securities Co, Hurricane, Energy Information Administration, Oil Locations: Malo, Gulf of Mexico, Louisiana, U.S, Gulf, Mexico

The weather system is not expected to hit major oil producing platforms in the U.S. Gulf of Mexico. However, oil major Chevron Corp (CVX.N) evacuated some staff from three platforms in the region. Expectations of a steep decline in U.S. crude oil stockpiles have also benefited oil prices, UBS analyst Giovanni Staunovo said. U.S. crude oil inventories are expected to have dropped by 3.3 million barrels in the latest week, according to an extended Reuters poll on Tuesday. "Even with the potential for some demand destruction (from hurricane Idalia), the coming crude oil supply squeeze is becoming more painfully obvious," said Price Futures Group analyst Phil Flynn.

Persons: Hurricane Idalia, Idalia, Robert Yawger, Yawger, Giovanni Staunovo, Baker Hughes, Phil Flynn, Shariq Khan, Natalie Grover, Emily Chow, Josie Kao, Nick Zieminski Organizations: Kyodo, REUTERS Acquire, Companies, Florida U.S, Hurricane, Brent, U.S, West Texas, Federal Reserve, Hurricane Center, Labor, Chevron Corp, Chevron, UBS, American Petroleum Institute, Futures, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, BENGALURU, Florida, Miami, U.S . Gulf of Mexico, Mexico, Gulf of Mexico, Bengaluru, London, Singapore, Houston

Meanwhile, Hurricane Idalia is expected to strengthen into a major hurricane with maximum sustained winds of 125 miles per hour (201 kilometers per hour) before hitting the northwest coast of Florida early on Wednesday, according to the U.S. National Hurricane Center (NHC). The weather system is not expected to hit major oil producing platforms in the U.S. Gulf of Mexico. However, oil major Chevron Corp (CVX.N) evacuated some staff from three platforms in the region. Production was continuing at Chevron-operated Gulf of Mexico oil and gas facilities. U.S. crude oil inventories are expected to have dropped in the latest week, according to a preliminary Reuters poll on Monday.

Persons: Brent, Hurricane Idalia, Idalia, Robert Yawger, Yawger, Shariq Khan, Natalie Grover, Emily Chow, David Goodman, Mike Harrison, Josie Kao Organizations: Kyodo, REUTERS Acquire, bbl U.S, Hurricane, . West Texas, Brent, U.S, Federal Reserve, National Hurricane Center, Labor, Chevron Corp, Chevron, Marathon Petroleum, American Petroleum Institute, Thomson Locations: Idemitsu, Ichihara, Tokyo, Japan, Florida, BENGALURU, U.S . Gulf of Mexico, Mexico, Gulf of Mexico, Garyville , Louisiana, United States, Bengaluru, London, Singapore, Houston

☆ OpenAI on track to generate more than $1 bln revenue over 12 months - The Information
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

OpenAI logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 29 (Reuters) - OpenAI is on track to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and computing capacity that powers it, the Information reported on Tuesday. Earlier, the ChatGPT maker projected $200 million in revenue for this year. The Microsoft-backed company is generating more than $80 million in revenue per month, compared to just $28 million in the entire last year, the report added. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, OpenAI, ChatGPT, Kanjyik Ghosh, Maju Samuel Organizations: REUTERS, Microsoft, Thomson Locations: Silicon Valley, Bengaluru

☆ OpenAI launches ChatGPT Enterprise, the company's biggest announcement since ChatGPT's debut
▼ + stars: | 2023-08-28 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

OpenAI on Monday announced its biggest news since ChatGPT's debut: It's launching ChatGPT Enterprise, the AI chatbot's business tier, available starting Monday. ChatGPT Enterprise includes access to GPT-4 with no usage caps, performance that's up to two times faster than previous versions, and API credits. One key differentiator between ChatGPT Enterprise and the consumer-facing version: ChatGPT Enterprise will allow clients to input company data to train and customize ChatGPT for their own industries and use cases, although some of those features aren't yet available in Monday's debut. When asked how ChatGPT Enterprise compares with Bing Chat Enterprise, Microsoft's enterprise AI chatbot, an OpenAI representative told CNBC, "This is an OpenAI product independent of Microsoft. The biggest obstacle to ChatGPT Enterprise's development was figuring out how to prioritize features, Lightcap told CNBC.

Persons: OpenAI, Brad Lightcap, Lightcap, Estée Lauder Cos, Andreessen Horowitz, Brian Burke, ChatGPT, Bard chatbot, Bing, Claude 2, Sam Altman, — Organizations: Monday, ChatGPT, CNBC, ChatGPT Enterprise, Beta, Microsoft, Sequoia Capital, Gartner, Fortune, Google

☆ Google to begin selling maps data to companies building solar products, hopes to generate $100 million in first year
▼ + stars: | 2023-08-28 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

Among the new offerings will be a Solar API, which could be used by solar installers like SunRun and Tesla Energy and solar design companies like Aurora Solar, according to a list of example customers viewed by CNBC. Some of the data from the Solar API will come from a consumer-focused pilot called Project Sunroof, a solar savings calculator that originally launched in 2015. It also offers 3D modeling of the roofs of buildings and nearby trees based on Google Maps data. At the time, Morgan Stanley had estimated Google Maps would earn $11.1 billion by this year as new travel products and promoted pins began to increase ad revenue. In June, CNBC found the company was laying off employees at traffic-reporting app Waze, which it acquired in 2013, and combining it with the Google Maps team.

Persons: There's, it's, Morgan Stanley, Brian Nowak Organizations: CNBC, Tesla Energy, Google, Marriott, Amazon, Microsoft

☆ Oil companies sue U.S. over Gulf auction changes meant to protect whale
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Unused oil rigs sit in the Gulf of Mexico near Port Fourchon, Louisiana August 11, 2010. The suit is the latest dispute between the oil and gas industry and the administration of President Joe Biden over leasing federal lands and waters for energy development. The final sale notice included new restrictions on development meant to protect the endangered Rice's whale. Lease Sale 261 will be held on Sept. 27 and will offer approximately 12,395 blocks on approximately 67 million acres (27 million hectares) on the U.S. Outer Continental Shelf in the Western, Central, and Eastern Planning Areas in the Gulf of Mexico.

Persons: Lee Celano, Joe Biden, Biden, Ryan Meyers, Mrinmay Dey, Nichola, Michael Perry Organizations: REUTERS, Chevron, Biden, Western, Western District of, Interior Department's, of Ocean Energy Management, American Petroleum Institute, Interior Department, U.S . Outer Continental, Thomson Locations: Gulf of Mexico, Port Fourchon , Louisiana, Louisiana, Gulf, Mexico, Western District, Western District of Louisiana, Central

☆ Portkey.ai makes it easier to build generative AI apps. Check out the 14-slide deck it used to raise $3 million from Lightspeed.
▼ + stars: | 2023-08-23 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

The San Francisco-based startup allows businesses to create generative AI apps quickly. Check out the 14-slide pitch deck used to secure the fresh funding. A startup that enables businesses to build their own generative AI apps has just raised $3 million from Lightspeed. San Francisco-based Portkey.ai — launched in January this year — aims to help companies deploy "very complex applications" on top of generative AI infrastructures, said cofounder and CEO Rohit Agarwal. The startup targets engineering teams in midmarket and enterprise companies, that are adopting generative AI, as well as generative AI startups.

Persons: Portkey.ai, —, Rohit Agarwal, Portkey, Agarwal Organizations: US, Lightspeed, Amazon Web Services Locations: San Francisco, Francisco, midmarket, Portkey

☆ TikTok is killing its Shopify storefront integration as it moves to control all aspects of in-app e-commerce
▼ + stars: | 2023-08-22 | by ( Dan Whateley | Madeline Stone | ) www.businessinsider.com time to read: +4 min

TikTok is shutting down its Shopify-integrated "storefronts" feature next month as it looks to control all aspects of in-app shopping and drive sellers to use its e-commerce platform, TikTok Shop. The tool let Shopify sellers sync product catalogs to TikTok where users could click on linked items to purchase them on Shopify. Purchases that happen on TikTok Shop aren't redirected to third-party platforms like Shopify, which means TikTok will have primary visibility into all aspects of the customer journey. Since TikTok Shop does not currently integrate with Shopify, Shopify could miss out on revenue if its merchants choose to set up shop with TikTok and direct sales there instead of their main Shopify store. However, Rick Watson, the CEO and founder of RMW Commerce Consulting, doesn't consider TikTok Shop too much of a threat to Shopify.

Persons: TikTok, Kylie Cosmetics, it's, It's, ByteDance, Shopify, influencers, Rick Watson, doesn't, Watson Organizations: Manly Bands, RMW Commerce Locations: China

☆ Oil falls on China worries despite tighter US supply
▼ + stars: | 2023-08-16 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. "Concerns that China's faltering economy will weigh on demand offset tight supply in the oil market," ANZ analysts said in a client note. "Crude inventories at the Cushing hub are seen to be falling to their lowest level since April. U.S. crude stocks dropped by about 6.2 million barrels last week, according to market sources citing American Petroleum Institute figures. Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, have pushed up oil prices over the past seven weeks.

Persons: Chen Aizhu, Cushing, Rystad, Claudio Galimberti, Arathy Somasekhar, Trixie Yap, Sonali Paul Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Brent, U.S, West Texas, ANZ, American Petroleum Institute, Reuters, National Australia Bank, of, Petroleum, Thomson Locations: China, Dalian, Liaoning province, Beijing, Saudi, Saudi Arabia, Russia, OPEC, Houston, Singapore

☆ Marqo, a startup using AI and machine learning to improve search, just raised $5.2 million with this 14-slide pitch deck
▼ + stars: | 2023-08-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Vector search startup Marqo has raised $5.2 million in seed funding from Blackbird Ventures. "There's a huge opportunity to improve search," Tom Hamer, Marqo's cofounder and CEO said. Marqo, a startup that helps e-commerce businesses and marketplaces improve their search functionality, has raised $5.2 million. Its vector search uses machine learning (ML) and AI to capture the meaning and context of data such as text and images, transforming it into a numeric representation that can then be queried by users through an API. While vector search models have been around for a while, improved AI technology has made the sector more accessible.

Persons: Tom Hamer, Marqo's, Marqo, Hamer, Cohere's, Ivan Zhang, Aidan Gomez Organizations: Blackbird Ventures, Amazon, Fund Locations: London, Melbourne, Canadian

☆ Who is Fernando Villavicencio, the anti-corruption candidate shot dead in Ecuador?
▼ + stars: | 2023-08-10 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Ecuadorian presidential candidate Fernando Villavicencio, shot dead on the campaign trail on Wednesday, was known as a tireless anti-corruption campaigner and investigative journalist. Villavicencio’s campaign promised a crackdown on crime and corruption amid a deadly escalation of violence that has gripped Ecuador in recent years. Villavicencio was shot as he left the campaign event pictured here. Correa filed a defamation lawsuit against Villavicencio, and he was later convicted to 18 months in prison as a result. Villavicencio went on the run to avoid detention, and gave an interview to the Committee to Protect Journalists (CPJ) in 2014.

Persons: Fernando Villavicencio, CNN En, Villavicencio, Rafael Correa, Correa, “, ”, ” Villavicencio Organizations: CNN, Ecuadorian, National Assembly, CNN En Español, Prensa, Workers Press, Villavicencio, Protect Journalists, TV Locations: Ecuador, Peru, Peruvian, TV Peru

☆ Oil hits new highs as tighter supply offsets China demand concern
▼ + stars: | 2023-08-09 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. Brent crude was 54 cents, or 0.6%, higher at $86.71 by 1110 GMT having touched $87.09, the highest since April 13. Crude posted its sixth consecutive weekly gain last week helped by a reduction in OPEC+ supplies and hopes of stimulus boosting oil demand recovery in China. "There is no doubt that there is plenty of momentum here," said Naeem Aslam, chief investment officer at Avatrade. On Tuesday, oil also came under pressure from Chinese data showing crude oil imports in July fell 18.8% from the previous month to their lowest daily rate since January, although they were up 17% from a year earlier.

Persons: Brent, Charalampos Pissouros, Naeem Aslam, Yuka Obayashi, Andrew Hayley, Bernadette Baum, Kirsten Donovan Organizations: Saudi, XM, . West Texas, Organization of, Petroleum, American Petroleum Institute, Official U.S . Energy, Thomson Locations: Zhoushan, Zhejiang province, China, Saudi, Russian, Saudi Arabia, Russia, U.S, OPEC, Tokyo, Beijing

☆ Under Biden, US oil production is poised to break Trump-era records
▼ + stars: | 2023-08-09 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

And yet, on his watch, US oil production is poised to shatter all-time records set during the Trump administration. If anything, the outlook for US oil production has brightened recently – in large part because oil prices have rebounded from recession fears and drillers have become more efficient. Climate vs. inflationWhen and if the oil production record falls, don’t expect any fireworks from the White House. Last week, Saudi Arabia vowed to extend its oil production cut for at least another month. It’s also true that domestic oil production -— unlike prices -— has been slow to recover from the Covid-19 crash.

Persons: Joe Biden, Trump, It’s, Biden, ”, Hunter Kornfeind, it’s, Mike Pence, Joe Biden’s, Pence, Barack Obama, “, Matt Smith, ” Biden, That’s, Kornfeind Organizations: New York CNN Business, Rapidan Energy, drillers, US Energy Information Administration, Strategic Petroleum Reserve, EIA, Exxon, Rapidan Energy Group, American Petroleum Institute, Biden, CNN, “ Locations: Saudi Arabia, Texas, Americas, Russia

☆ AI Scams, Spam, Hacking, Are Ruining the Internet
▼ + stars: | 2023-08-08 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

A report from Europol expects a mind-blowing 90% of internet content to be AI-generated in a few years. A report from Europol, the European Union's law-enforcement agency, expects a mind-blowing 90% of internet content to be AI-generated in a few years. And while AI bots have telltale signs now, experts indicate that they will soon get better at mimicking humans and evading the detection systems developed by Menczer and social networks. While misinformation has long been a problem with the internet, AI is going to blow our old problems out of the water. But security researchers have discovered that the AI bots in your apps and devices might steal sensitive information for the hackers.

Persons: HBO Max, haven't, ChatGPT, Christian Selig, Reddit, Martijn Pieters, He'd, NewsGuard, Gordon Crovitz, NewsGuard's, Filippo Menczer, NewsGuard's Crovitz, Christopher Cowell, Cowell, John Licato, Bing, Florian Tramèr, Toby Walsh, Walsh, Shubham Agarwal Organizations: HBO, Europol, Market, Indiana University's Observatory, Social Media, Facebook, Microsoft, Google, University of South, ETH Zürich, University of New, University of Oxford, Wired, Company Locations: Cambridge, Europol, Portland , Oregon, Etsy, University of South Florida, University of New South Wales, Ahmedabad, India

☆ In a desperate scramble for ammo, Russia's defense chief flew all the way to North Korea to beg for some of theirs
▼ + stars: | 2023-08-04 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Russia's defense chief traveled to North Korea recently to try and secure more ammunition. Shoigu went to Pyongyang "in a bid to convince North Korea to sell munitions to Russia to support Russia's war," Kirby added. Kirby said on Thursday that any arms deal between Russia and North Korea would be in violation of United Nations Security Council resolutions. North Korean leader Kim Jong Un walks with Russian Defense Minister Sergei Shoigu in Pyongyang, North Korea, on July 27, 2023. Iran has outfitted Russia's military with explosive drones that Moscow has used for nearly a year to attack Ukrainian cities and the country's civil infrastructure.

Persons: Vladimir Putin's, Biden, Vladimir Putin, Sergei Shoigu, Shoigu, Kim Jong Un, John Kirby, Kirby, Li Hongzhong, Kim, Kim Jong, Putin, he's, Volodymyr Zelenskyy, there's Organizations: White, US, Service, Russian, North, DPRK, Ukraine, National Security, Democratic People's, Chinese Communist Party, Russia's, Korean Central News Agency, KCNA, REUTERS, Korean, Wagner Group, US Treasury Department, Slovakian, United Nations, Russian Defense Locations: North Korea, Ukraine, Russia, Wall, Silicon, Moscow, North Korean, Democratic People's Republic of Korea, Pyongyang, REUTERS North Korea, Korea, Iran, China, Washington, Beijing

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