headlines... by halloapp

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01-30-2024

TECH

• iRobot's stock tumbled after Amazon abandoned its $1.7 billion acquisition due to regulatory concerns, resulting in layoffs and uncertainty.

• Elon Musk's Neuralink has successfully implanted its brain-computer interface in a human, achieving promising results in neuron spike detection.

• Amazon is expected to report Q4 2023 earnings with net sales between $160 billion and $167 billion on February 1. Apple's Q1 earnings may be impacted by weaker iPhone sales in China, but the services segment is expected to sustain growth. UPS stock dropped after reporting lower-than-expected Q4 sales and a disappointing 2024 outlook due to weak demand and higher labor costs.

• Apple has reportedly sold over 200,000 Vision Pro headsets, launching this Friday. The headset offers crisp screens and work productivity, but has limitations for gaming and lacks certain apps. Xreal, a Chinese AR glasses maker, raised $60 million to compete with Apple and Meta. Zoom is launching a collaboration app for the Vision Pro headset, offering immersive meetings and avatars.

• Elon Musk's social media platform X blocked searches for Taylor Swift due to explicit deepfake images but has since lifted the ban and plans to hire 100 moderators to combat child abuse content. Microsoft has updated its AI image generator to prevent explicit deepfakes.

• Generative AI, like OpenAI's ChatGPT, has economic potential but raises concerns about privacy, bias, legal risks, and cybersecurity threats.

• South Korean startup Rebellions Inc. has raised $124 million in a Series B funding round led by KT Corp. The funds will be used to develop their next-generation AI chip, Rebel, and ramp up production of their data center-focused chip, Atom. Rebellions aims to challenge Nvidia's dominance in the AI chip market by offering more versatile technology.

• Italy's data protection authority has accused OpenAI of violating EU privacy regulations with its AI chatbot, ChatGPT, and has given the company 30 days to respond.

• C3.ai, a leading enterprise AI company, has seen an 84% drop from its peak, making it an attractive investment with promising revenue growth and customer engagements.

MEDIA

• Former President Donald Trump has been ordered to pay writer E. Jean Carroll $83.3 million in a defamation case. Carroll plans to donate the money to causes that Trump hates, potentially including a fund for women sexually assaulted by him. Trump may owe over $400 million in damages from two separate cases.

• Flutter Entertainment, the parent company of FanDuel, plans to shift its main listing to the New York Stock Exchange, boosting its presence in the US market.

• Taylor Swift's relationship with Travis Kelce has boosted the Kansas City Chiefs' brand value by $331.5 million. She may attend the Super Bowl despite having a concert in Tokyo the day before.

• Amazon Prime Video has launched an ad-supported tier, with limited ads and an option for an ad-free experience at an additional cost.

CONSUMER

• Walmart is offering store managers in the US annual stock grants worth up to $20,000 to improve retention and attract new leaders.

• Superdry is facing declining sales and considering store closures, job cuts, and cost-saving measures to salvage the business.

• REDcycle, a soft plastics recycling program in Australia, has collapsed, causing confusion for customers. Coles and Woolworths gave incorrect information about returning packaging. The Soft Plastics Taskforce will conduct a trial collection, but the larger issue of plastic waste management remains.

• Alibaba's undervalued stock presents a buying opportunity with strong business expansion, profitability, and a strong position in China's e-commerce industry.

REAL ESTATE

• The Hong Kong court has ordered the liquidation of Evergrande, the world's most indebted developer, due to its failure to present a viable restructuring plan.

• Swiss construction material company Holcim plans to spin off its profitable North American division, potentially valuing it at over $30 billion, and list it on the New York Stock Exchange next year. The move was well-received by investors, with shares of Holcim rising significantly.

• Refinancing rates for 30-year, 15-year, and 20-year fixed mortgages range from 6.45% to 7.30%, while rates on student and personal loans have increased slightly.

ECONOMIC

• Eurozone bond yields increase as Spanish inflation rises by 3.5%. Germany's economy shrinks by 0.3% in Q4 2023, signaling a potential recession.

• HSBC has been fined £57.4 million by UK regulators for serious failings in protecting customer deposits dating back to 2015.

• The IMF has upgraded Russia's growth prospects for 2024 to 2.6% due to increased military spending in Ukraine.

• Jim Esposito, co-head of Goldman Sachs' global banking and markets division, is retiring after almost 30 years with the firm.

• Ukraine and Hungary discuss minority rights ahead of EU aid summit. Hungary faces backlash for opposing aid package to Ukraine.

CRYPTO

• The European Securities and Markets Authority (ESMA) is proposing rules to limit cryptocurrency firms outside the EU from serving customers within the bloc to prevent unfair competition. The proposal is open for public consultation until April.

• Invesco and Galaxy Asset Management have lowered the fee of their Bitcoin ETF, Invesco Galaxy Bitcoin ETF (BTCO), to 0.25% to attract investors.

• PayPal Ventures has invested $6.5 million in Mesh, a startup enabling businesses to integrate crypto transfers and payments using stablecoin PYUSD.