headlines...by halloapp

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11-25-2023

TECH

• Black Friday and Cyber Monday 2023 offer discounts on various Apple products, including AirPods, iPads, MacBooks, and Apple Watches.

• Microsoft’s partnership with OpenAI gives it an advantage in the AI market, with language models playing a crucial role. Sam Altman was fired and rehired as CEO of OpenAI within five days, credited to his charisma and support from employees. The chaos at OpenAI may accelerate the AI arms race and open opportunities for competitors. Satya Nadella and Microsoft CTO Kevin Scott played a key role in Altman’s reinstatement. The fiasco raises questions about OpenAI’s future and potential brain drain.

• Amazon workers in Europe and the US are going on strike on Black Friday to protest against poor working conditions and low wages. The strikes are part of a global campaign demanding better pay and working conditions from the company.

• Terry Gou, founder of Foxconn, steps down from daily operations but remains involved; withdraws from Taiwan’s presidential race after failed negotiations.

• Elon Musk’s social media company X could lose $75 million in ad revenue as major brands pause campaigns due to antisemitic content.

• Nvidia’s stock struggles to surpass $500 due to high expectations and delays in launching its new AI chip in China.

• Nvidia’s Q3 earnings report shows impressive growth, with revenue increasing by 34% to $18.1bn and a promising future outlook.

• Russian President Vladimir Putin plans to endorse a national strategy for developing AI to prevent a Western monopoly. He emphasizes the need for reliable and transparent AI systems that reflect Russian culture. Putin also pledges to invest in supercomputers for AI research.

• Black Friday deals include discounts on cameras like Nikon Z6 II and Canon R5, as well as GoPro Hero 12.

MEDIA

• Oscar Pistorius, the former Paralympic star convicted of murdering his girlfriend, has been granted parole after serving half of his sentence.

• Former police officer Derek Chauvin, convicted of murdering George Floyd, has been stabbed in prison and seriously injured.

• HMV, the iconic British music store, has reopened its flagship store on London’s Oxford Street after a four-year absence. Owner Doug Putman is hopeful about the future of physical stores.

• Former executive assistant Brittany Commisso has accused former New York Governor Andrew Cuomo of continuous sexual harassment in a new court filing, made under New York’s Adult Survivors Act. Cuomo’s attorney denies the claims.

• The Milwaukee Bucks beat the Washington Wizards 131-128 behind strong performances from Lopez, Antetokounmpo, and Lillard, each scoring over 30 points.

• Sean ”Diddy” Combs is facing two new lawsuits accusing him of rape and sexual assault, including drugging and assaulting a woman in 1991.

• The Ohio State vs. Michigan college football game is highly anticipated and heavily bet on, with Ohio State as the underdog.

• Amazon Prime Video will stream the first-ever Black Friday NFL game, featuring the New York Jets, with interactive features to drive viewers to its site.

• Black Friday and Cyber Monday 2023 offer discounts and gift card offers on VR headsets like Meta Quest 3 and Sony PSVR.

• Apple is increasing its streaming content for the holidays with new shows, movies, a musical special, and seasonal episodes.

• Aitana Lopez, an AI-generated influencer created by a Barcelona design agency, earns up to 10,000 euros per month as a model on Instagram.

CONSUMER

• Black Friday sales include discounts on men’s clothing from brands like Allbirds, Bonobos, Reebok, Alo Yoga, Lululemon, Hoka, UGG, Crocs, and Birkenstock.

• Shares of iRobot, the maker of Roomba vacuums, surged nearly 40% as European regulators are expected to approve Amazon’s acquisition.

• Today is Small Business Saturday, a day to support local businesses and boost the economy during the holiday season. Shoppers spent a record $17.9 billion in 2022.

• Dyson is offering Black Friday and Cyber Monday deals on their popular hair tools, including the Airwrap and Supersonic hair dryer. The Airwrap is on sale for $480, a $120 discount, while the Supersonic is priced at $300.

• Black Friday brings discounts on luggage from brands like Calpak, Away, and Monos, along with travel deals on flights, hotels, and more.

• Minaean SP Construction Corp. and Paylocity Holding Corporation shareholders question CEO pay due to poor performance and negative share price return. Spur Corporation Ltd and Helios Energy Limited face similar hesitation despite growth in earnings per share.

• Alibaba’s Taobao and Tmall have canceled their annual Dec. 12 shopping festival and will replace it with ‘year-end good price’ in December.

• The American Dream Mall in New Jersey was evacuated on Black Friday due to a bomb threat, but no explosive devices were found. Police are investigating.

• A fire at a shopping mall in Karachi, Pakistan, has killed at least 9-11 people and injured over 20-35 others.

• Xcel Brands, Inc. missed Q3 2023 EPS expectations with -$0.15 but expects to be profitable in Q1 2024. Guess, Inc. had revenue growth in line with expectations but missed on EPS at $0.49 instead of $0.62.

• Analysts expect retail stocks like Amazon, Shopify, and Walmart to perform well during the holiday season due to strong consumer spending, but past trends suggest they may not outperform the market.

REAL ESTATE

• King Charles’s estate, the Duchy of Lancaster, will transfer over £100m into ethical investment funds following revelations about the use of funds collected from dead people. The estate had used some of the funds to renovate and profit from properties owned by the king. The Duchy of Lancaster’s charities, which have received over £40m, have also faced questions over their investments. Greater Manchester mayor Andy Burnham has called for transparency and public consent on how the funds are used.

• China’s real estate crisis has led to a $37 billion shortfall in the balance sheet of shadow bank Zhongzhi Enterprise Group, raising concerns of contagion in the financial system. The group has disclosed total liabilities of up to CNY 460 billion against assets of CNY 200 billion.

• China’s property market is experiencing a decline in home prices and outstanding property loans, prompting the need for government support. Authorities are pressuring banks to provide financing for struggling developers.

• Mortgage interest rates have decreased this week, with 30-year rates dropping 8 basis points to a two-month low of around 7.77%.

• Experts anticipate a drop in home prices as the US housing market shows signs of recovery, including rising listings, sales, and construction.

TRAVEL

• Starting December 1, China will allow citizens from France, Germany, Italy, the Netherlands, Spain, and Malaysia visa-free entry for up to 15 days.

• Winter adventures in Wales include stargazing, hiking, cycling, adrenaline activities, and glamping, along with cultural attractions like art galleries and castles.

ECONOMIC

• Brent crude futures rose in Asian trade as traders speculated on whether OPEC+ would agree on further production cuts. Japan’s private sector growth stalled in November, with the flash PMI falling to 50.0, signaling a slowdown in economic activity. US retail ETFs saw gains on Black Friday, outperforming broader market indexes. US shoppers plan to spend an average of $875 on Black Friday, with retailers offering promotions to alleviate pricing pressures. US stocks closed mixed on Black Friday as investors monitor consumer spending during the holiday shopping season.

• Intercontinental Exchange, Cintas Corp., Clorox Co., and Whirlpool Corp. stocks rose on consecutive days, outperforming the market.

• The far-right Party for Freedom, led by Geert Wilders, won 37 seats in the Dutch election, raising concerns for the EU.

• Argentina’s President-elect Javier Milei aims for dollarization in the medium term but will not immediately lift currency controls.

• Japan’s core inflation rose 2.9% in October, slightly higher than expected, putting pressure on the Bank of Japan to consider a rate hike and roll back monetary stimulus.

• Barclays and Lloyds Banking Group are both considering cutting over 2,000 jobs each to reduce costs and improve profitability.

• Chartwell Retirement Residences, Decisive Dividend Corporation, TWC Enterprises, BioSyent Inc., Whitecap Resources Inc., and Dover Corporation are going ex-dividend soon.

CRYPTO

• Montenegro court approves extradition of Terraform Labs co-founder Do Kwon; justice minister to decide his destination after prison sentence.

• Lawyers for former Binance CEO Changpeng Zhao are asking a US judge to let him leave the country before his sentencing for violating anti-money laundering rules.

• Singapore’s central bank, MAS, has introduced new regulations to protect retail investors in cryptocurrency trading, including banning credit card purchases and incentives. Borrowing to trade will also be prohibited. The measures will be implemented gradually from mid-2024.

HEALTH

• China has informed the World Health Organization that the recent surge in pneumonia cases among children is caused by known pathogens, not a novel virus like COVID-19. The WHO has requested more information from China.

• Design Therapeutics, Nuvectis Pharma, AbCellera Biologics, and Zevra Therapeutics insiders have all bought stock, showing confidence in their companies.