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☆ Chat GPT-4: OpenAI wants to make its chatbot even more powerful
▼ + stars: | 2023-03-14 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

CNN —Nearly four months after OpenAI stunned the tech industry with ChatGPT, the company is releasing its next-generation version of the technology that powers the viral chatbot tool. GPT-4 can also read, analyze or generate up to 25,000 words of text, and write code in all major programming languages, according to the company. OpenAI described the update as the “latest milestone” for the company. GPT-4 is the latest version of OpenAI’s large language model, which is trained on vast amounts of online data to generate compelling responses to user prompts. “We are happy to confirm that the new Bing is running on GPT-4, which we’ve customized for search,” Microsoft said on Tuesday.

☆ OpenAI wants to make ChatGPT even more powerful with GPT-4
▼ + stars: | 2023-03-14 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

☆ A CIO shares the strategy behind 'The Big Short' garage hedge fund that flipped $110,000 to over $80 million — and explains how to use the same approach in today's stock market to make extremely cheap
▼ + stars: | 2023-03-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Universa Investments, a "black swan" hedge fund specializing in market shocks, sensationalized this approach after it made headlines in the first quarter of 2020 for a 4,144% return when the stock market plunged. So what we do for investors is our fund serves as protection against that sort of exogenous event, that sort of crash," Sidial said. In short, it's a bet against the odds in exchange for lofty returns, or what's known as convex payouts. However, if there's a market crash, the volatility on the VIX generally outperforms more than any other underlying securities in the US equities market, he noted. For example,Cambria Tail Risk ETF (TAIL) was up 27% from mid-feb to mid-march 2020 during the stock market crash brought about by the pandemic.

MarriottThe Marriott Bonvoy Business® American Express® Card has increased its welcome bonus to 125,000 bonus Marriott Bonvoy Points after spending $5,000 in purchases within the first three months of card membership (offer ends 5/3/23). With an annual fee of $125, the Marriott Bonvoy Business® American Express® Card is a little pricier than similar hotel credit cards. 6x Marriott Bonvoy Points on each dollar of eligible purchases at hotels participating in the Marriott Bonvoy® program. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. But even without the elevated welcome bonus offer, the Marriott Bonvoy Business Amex is well worth the annual fee.

☆ Kohl's blamed its rough quarter on a squeezed middle class, but one analyst says it's because stores are a mess
▼ + stars: | 2023-03-01 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

But one analyst blamed messy Kohl's stores and "dispiriting" stores during the holidays. Kingsbury said that Kohl's store portfolio remains healthy. Kohl's partnerships with other brands is driving sales, CEO saysKohl's and Amazon inked a deal in 2019 that allows Amazon customers to return items to Kohl's stores. Ted Shaffrey/APKingsbury also highlighted Kohl's partnership with Sephora, which operates store-in-store concepts in Kohl's locations across the US. Kohl's previously said that the Amazon partnership drew over 2 million new customers to its stores in its first year.

☆ Goldman Sachs and Citi are reportedly restricting employees' use of ChatGPT as big banks crack down on the popular AI tool
▼ + stars: | 2023-02-24 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Citigroup and Goldman Sachs are restricting use of ChatGPT by employees, according to reports on Friday. Citigroup blocked access to the chatbot as part of restrictions dealing with third-party software, Bloomberg reported. Traders at Goldman Sachs were similarly restricted, the report said, citing another unnamed source. Financial News based in London first reported on the ChatGPT restrictions at the Wall Street banks. Bloomberg reported representatives for Citi and Goldman Sachs declined to comment, and a spokesperson for OpenAI, the research firm that developed ChatGPT, didn't immediately respond to a request for comment.

☆ Revisiting JPMorgan’s innovative Cazenove deal
▼ + stars: | 2023-02-24 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +6 min

JPMorgan avoided most of these problems by structuring its deal as a joint venture with Cazenove. Though the corporate entity called JPMorgan Cazenove was quietly wound down a few years ago, the name still graces the U.S. group’s UK banking business. At the time of the JPMorgan deal, Cazenove acted as broker to almost half of the companies in the FTSE 100 Index (.FTSE). By 2009, the enlarged business reported a pre-tax profit of 280 million pounds. The Cazenove deal still stands as a case study of how to buy an investment bank without destroying it.

[1/2] A Ukrainian serviceman rides inside a truck with artillery shells, amid Russia's attack on Ukraine, near a frontline in Zaporizhzhia region, Ukraine January 5, 2023. EU foreign ministers are expected to discuss the idea of joint procurement of 155-millimetre artillery shells – badly needed by Kyiv – at a meeting in Brussels on Monday. DEPLETED STOCKPILESA joint procurement effort would aim to replenish the stockpiles of Kyiv's allies, badly depleted after a year of supplying munitions to help Ukraine fight Russia's invasion. NATO Secretary-General Jens Stoltenberg said this week Ukraine was using up artillery shells faster than its allies could currently produce them. Diplomats and officials did not specify how much the EU might spend on joint procurement.

☆ EU aims to team up with defence industry to speed up ammunition output
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

MUNICH, Feb 18 (Reuters) - The European Union aims to join forces with the bloc's defence industry to speed up and scale up the production of ammunition badly needed on the battlefield in Ukraine and to replenish military stocks at home, its chief said on Saturday. "We could think of, for example, advanced purchase agreements that give the defence industry the possibility to invest in production lines now to be faster and to increase the amount they can deliver," she said. Von der Leyen underlined that the bloc could not wait for months and years to be able to replenish its own military stocks or send munitions such as 155mm artillery shells to Ukraine. "It is now the time, really, to speed up the production, and to scale up the production of standardized products that Ukraine needs desperately, for example standardized ammunition," she said. Reporting by Sabine Siebold; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

[1/2] A Ukrainian serviceman rides inside a truck with artillery shells, amid Russia's attack on Ukraine, near a frontline in Zaporizhzhia region, Ukraine January 5, 2023. EU foreign ministers are expected to discuss the idea of joint procurement of 155-millimetre artillery shells – badly needed by Kyiv – at a meeting in Brussels on Monday. DEPLETED STOCKPILESA joint procurement effort would aim to replenish the stockpiles of Kyiv's allies, badly depleted after a year of supplying munitions to help Ukraine fight Russia's invasion. NATO Secretary-General Jens Stoltenberg said this week Ukraine was using up artillery shells faster than its allies could currently produce them. Diplomats and officials did not put a figure on how much the EU might spend on joint procurement.

☆ These are the 10 best cars for every budget from Toyota, Ford, and Tesla
▼ + stars: | 2023-02-17 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

The best cars you can buy include the Toyota Corolla, Ford Maverick, Hyundai Santa Fe, and Tesla Model 3. Under $25,000:Toyota Corolla HybridThe 2022 Toyota Corolla Hybrid. Toyota Corolla CrossThe 2022 Toyota Corolla Cross. $35,000-$45,000:Hyundai Santa Fe HybridThe Hyundai Santa Fe Hybrid. Doug Berger/NWAPAThe Kia Telluride has earned its place among Consumer Reports' Top Picks since its debut in 2020.

☆ Standard Chartered CEO says the bank has not engaged with prospective bidders
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStandard Chartered CEO says the bank has not engaged with prospective biddersBill Winters, CEO of Standard Chartered, speak to CNBC's Geoff Cutmore and Karen Tso following the global bank's earnings.

☆ Bill Winters: Standard Chartered 'absolutely not' for sale
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Winters: Standard Chartered 'absolutely not' for saleBill Winters, CEO of Standard Chartered, speaks to CNBC's Geoff Cutmore and Karen Tso following reports of a potential sale of the bank.

☆ Standard Chartered 'absolutely not' for sale, bank CEO says
▼ + stars: | 2023-02-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

LONDON — The CEO of Standard Chartered said the bank was "absolutely not" for sale following speculation of a takeover bid. Bill Winters told CNBC's Geoff Cutmore Thursday that a potential sale is not what the company is focused on. "But of course, we have a fiduciary responsibility to our shareholders and if somebody wants to come and thinks they can add a lot of value, as I've said, be my guest." The comments come after First Abu Dhabi Bank said Friday that it was not evaluating an offer for Standard Chartered. "First Abu Dhabi Bank PJSC notes the recent press speculation in relation to Standard Chartered and re-iterates that it is not evaluating a possible offer for Standard Chartered," the bank said in a statement.

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☆ Exclusive: Alphabet spinoff Sandbox AQ raises $500 mln for cyber security, other quantum work
▼ + stars: | 2023-02-14 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +3 min

OAKLAND, Calif., Feb 14 (Reuters) - Sandbox AQ, a startup spun off from Alphabet Inc (GOOGL.O) last year, said on Tuesday it raised $500 million as it helps customers prepare for a quantum computing future. Quantum computers, whose processors run based on quantum physics, could one day carry out certain calculations millions of times quicker than today's fastest super computers, yet they remain years away from making a big change, such as breaking encryption. The simulation does not currently need quantum computers to work, said Hidary. When quantum computers are ready, that work would speed up even further. Sandbox AQ is also using existing types of sensors based on quantum physics.

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☆ Brad Pitt's production company, Plan B, is not renewing its overall deal with Amazon Studios
▼ + stars: | 2023-02-07 | by ( Elaine Low | Lucia Moses | ) www.businessinsider.com time to read: +2 min

Plan B, the production company cofounded by Brad Pitt, is not renewing its overall deal with Amazon Studios. In late 2022, French company Mediawan acquired a majority stake in Plan B. Brad Pitt's production company, Plan B Entertainment, is not renewing its overall deal with Amazon Studios, Insider has learned. Prime Video's "Paper Girls," produced by Plan B and Legendary Television, was canceled after one season. The move comes in the wake of a December announcement that French media company Mediawan had taken a majority stake in Plan B, with Plan B intending to operate as an independent content creator going forward.

Cobalt has lost share to lithium as the Chinese EV market in particular pivots towards non-cobalt battery chemistry. The abrupt turnaround in both narrative and price has led to a surge in trading activity on the CME cobalt contract as producers and consumers respond to the shifting landscape. CME cobalt price, total volume and market open interestCHANGE OF GEARCobalt's fortunes are still tied to the EV sector but the relationship is changing. That eye-watering growth rate would be stronger still were it not for a shift towards non-cobalt battery chemistries, led by China, the world's largest EV market. COBALT FUTURES TAKE OFFOne beneficiary of this turnaround in cobalt market dynamics has been the CME (CME.O), which has seen activity in its cobalt contract mushroom since the middle of last year.

☆ U.S. is unlikely to face a 'run-of-the-mill' recession, says Standard Chartered
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. is unlikely to face a 'run-of-the-mill' recession, says Standard CharteredSteve Brice of Standard Chartered Wealth Management says the market has indicated since October that the U.S. Federal Reserve has "tightened too much already," but it's still doing so.

☆ Britain sets out plans to regulate crypto industry in wake of FTX collapse
▼ + stars: | 2023-02-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

In a widely-anticipated industry consultation launched Tuesday, the government proposed a number of measures aimed at bringing regulation of crypto asset businesses in line with that of traditional financial firms. A big theme that emerged in 2022 was the rise of risky loans made between multiple crypto firms and a lack of due diligence done on the counterparties involved in those transactions. The collapse of FTX has added urgency to global regulators' attempts to govern the regulation-averse crypto space. The regulatory move comes as crypto firms in both the U.K. and beyond are feeling the chill of a deep downturn known as "crypto winter." Global crypto hub ambitionsThe U.K. wants to become a leader in crypto and blockchain technology on the global stage.

☆ Expect a 50 basis point rate hike from ECB at its next meeting, strategist says
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect a 50 basis point rate hike from ECB at its next meeting, strategist saysEric Robertson of Standard Chartered says it expects further interest rate hikes from the European Central Bank over the first half of the year.

☆ These are the 11 cheapest electric cars you can buy in 2023
▼ + stars: | 2023-01-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

We've found the 11 cheapest new EVs you can buy in 2023. Chevrolet Bolt EVThe 2023 Chevrolet Bolt EV. ChevroletRetail price: $27,800EPA-estimated range: 247 milesQualifies for EV tax creditChevy recently introduced a big brother for the Bolt EV, the Bolt EUV. MazdaRetail price: $34,110EPA-estimated range: 100 milesMazda's first electric model disappoints in the all-important range department. KiaRetail price: $39,550EPA-estimated range: 253 milesThe Kia Niro gets bold new looks for the 2023 model year.

☆ A top Unilever exec breaks down the CPG giant's investments in e-commerce advertising and why it's pushing for retailers to adopt better measurement standards
▼ + stars: | 2023-01-23 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

A top Unilever ad exec told Insider the CPG giant is looking for new ways to measure digital ads. She said that the brand is also structured to account for bigger ad budgets moving to retail media. Unilever, one of the biggest spenders on e-commerce ads, is pushing for retailers to adhere to the same measurement standards. Donkada said such specifications for Unilever's retail media ads would likely look similar to standards Unilever created for brand safety and also take into account privacy. The ads team manages both national and retail media spend, meaning that one Unilever team can tweak retail media budgets to be higher or lower.

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