headlines...by halloapp

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12-15-2023

TECH

- Intel celebrates the launch of its AI Everywhere initiative, introduces new AI chips for PCs, servers, and ultrathin laptops.

- Meta's Threads app has launched in the European Union, allowing users to browse and search the service without an Instagram account. The launch was delayed due to strict privacy laws, and Meta plans to make Threads more interoperable with other social platforms.

- Elon Musk's AI chatbot, Grok, expressed interest in collaborating with Grimes' AI toy of the same name. Grimes partnered with Curio to launch an interactive AI toy called Grok for young kids. The toy allows conversations and transcribes them to an app for parents to monitor.

- The EU's top court has ruled in favor of Amazon, overturning a €250 million tax order and sparing the company from paying back taxes.

- Pope Francis urges for a binding international treaty to regulate AI, highlighting concerns about weaponization, deepfakes, and human rights.

- Vivendi challenges €19bn sale of TIM's fixed-line network to KKR, explores options for its €1.3bn stake in Telecom Italia.

- Elon Musk has been ordered by a federal judge to testify in the SEC's investigation into his acquisition of Twitter stock.

- Google's Chrome browser will test a feature called Tracking Protection, restricting cross-site tracking and phasing out third-party cookies by 2024.

- US regulators, including the Financial Stability Oversight Council, are concerned about the potential risks of artificial intelligence in the financial system, including data controls, privacy, cybersecurity, and discriminatory bias. They plan to address these risks in 2024 and advise financial institutions to monitor AI development.

- Amazon is letting customers thank delivery drivers with a $5 tip through the app or Alexa, with additional rewards for the most-thanked drivers.

- Alphabet's Gemini AI model, powering Google's Pixie assistant, aims to give Google an edge in the tech race.

MEDIA

- Prince Harry wins phone-hacking case against Daily Mirror, awarded over £140,000 in damages for "unlawful and criminal activities."

- Scholastic Corporation reported a 4% decrease in Q2 2024 revenues and adjusted its fiscal 2024 guidance due to lower profit growth.

- Naughty Dog cancels The Last of Us Online multiplayer game to prioritize single-player narrative games due to resource concerns.

- Cevian Capital, Pearson's largest investor, suggests that the education firm should move its listing to the US for increased value.

CONSUMER

- US retail sales in November exceeded expectations, rising 0.3% from October, indicating consumer resilience and a strong start to the holiday shopping season.

- Chinese e-commerce platform Temu has filed a lawsuit against rival Shein, accusing the company of "mafia-style intimidation" and anticompetitive practices. Temu alleges copyright infringement, abuse of suppliers, and misuse of intellectual property legislation. Shein plans to defend itself.

- US officials have seized 1.4 million illegal e-cigarettes worth $18 million from the Chinese manufacturer of popular brand Elf Bar.

- The average American plans to spend $409 on holiday gifts, with over half spending about the same as last year.

- Browning West LP and Turtle Creek Asset Management are urging Gildan Activewear to reappoint CEO Glenn Chamandy and remove chairman Donald Berg.

- Chewy, the largest e-commerce pet care retailer in the U.S., will launch veterinary practices called "Chewy Vet Care" in 2024.

REAL ESTATE

- Lennar Corp expects growth in home deliveries and new orders, projecting 80,000 deliveries for fiscal year 2024. Q4 earnings beat estimates.

- Brookfield Corporation is an alternative asset manager and REIT that focuses on real estate, renewable power, infrastructure, and venture capital globally.

ECONOMIC

- The EU has agreed to open membership talks with Ukraine, despite opposition from Hungary, and Ukraine seeks aid from the US.

- Argentina's President Javier Milei plans to devalue the peso, implement shock therapy measures, and tackle fiscal deficits to rein in inflation.

- UK business growth reached a six-month high in December, potentially avoiding a recession. Eurozone business activity declined, indicating a likely recession. Germany experienced a worsening economic downturn.

- Citigroup plans to shut down its muni bond business by Q1 2024, affecting about 100 employees, to improve returns.

- Global Payments Inc. is reportedly considering acquiring Shift4 Payments Inc., a payment processing solutions provider, causing a surge in Shift4's stock.

CRYPTO

- Ledger, a crypto wallet maker, has experienced a security breach after hackers inserted malicious code into its Connect Kit software, potentially compromising users' crypto assets.

- SafeMoon, a memecoin, has filed for bankruptcy and its value has plummeted by over 50% after executives were arrested for fraud by the SEC.

- The Financial Accounting Standards Board (FASB) will implement new rules in 2024 allowing companies to record Bitcoin gains on their balance sheets, potentially increasing corporate crypto investments.