headlines...by halloapp

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01-18-2024

TECH

• Samsung has unveiled its new Galaxy S24 series smartphones, featuring AI-powered capabilities such as real-time translation and advanced camera features. The phones will be available for pre-order starting January 31.

• Apple is disabling the blood oxygen feature on its Watch Series 9 and Ultra 2 models in the US to comply with a sales ban imposed due to a patent dispute with Masimo. The ban will go into effect on January 18, 2024.

• Sheryl Sandberg, former COO of Meta, will step down from the board after 12 years but remain as an advisor.

• Google DeepMind has developed an AI system called AlphaGeometry that can solve complex geometry problems at a level comparable to a human gold medalist in the International Mathematical Olympiad.

• Verizon will take a $5.8 billion impairment charge in Q4 due to declining revenue and competitive pressure in its business services division.

• Salesforce CEO Marc Benioff calls for AI regulation to build public trust, warns of issues with generative AI tools. He also suggests standardized payments for training data and believes AI should be a human right, acknowledging its potential for both inequality and equality. Benioff emphasizes the positive impact of AI on productivity and healthcare, but warns of rising threats and stresses the need for transparency, accountability, and business involvement in addressing climate change.

• Unredacted documents from the New Mexico lawsuit against Meta reveal that the tech giant facilitated child sexual harassment on Instagram.

• Amazon is developing a paid version of its Alexa voice assistant, called “Alexa Plus” or “Remarkable Alexa,” to offer more personalized and conversational features. Early testing has revealed issues with inaccurate and lengthy responses, but Amazon is working to address them. This subscription service is seen as a crucial attempt to revive Alexa’s business model.

MEDIA

• Former President Donald Trump faces a defamation trial brought by E. Jean Carroll, who accuses him of rape and seeks damages.

• Bankrupt Diamond Sports Group has reached a restructuring deal with Amazon, securing $450 million in financing and making Prime Video its main streaming partner.

• Greta Gerwig’s ”Barbie” received 5 BAFTA nominations, while Christopher Nolan’s ”Oppenheimer” received 13 nominations, leading the pack.

• Paramount+ has partnered with Tap Digital Media Ventures in the Philippines and JioCinema in India to expand its availability in new markets.

• CNN has canceled the New Hampshire Republican debate due to lack of participation, with only one candidate, Gov. Ron DeSantis, agreeing to participate.

CONSUMER

• German luxury sandal maker Birkenstock reported strong Q4 sales, exceeding revenue expectations, and predicted higher annual revenue. However, its stock fell due to concerns about margin pressures and expansion costs. The company expects growth in fiscal year 2024.

• Gildan Activewear is in a dispute with former CEO Glenn Chamandy over alleged disengagement, risky acquisitions, and undisclosed investments.

• Target has appointed Michael Fiddelke as its new chief operating officer, effective February 4, while he continues to serve as CFO.

• Amazon has opened a delivery station in Anchorage, Alaska, to improve package delivery times for Prime customers in the area.

REAL ESTATE

• Homebuilder confidence in the US housing market rose in January due to lower mortgage rates, exceeding expectations and leading to increased customer traffic and sales.

• Redfin, Compass, and Coinbase, among other startups in crypto and real estate tech, have laid off employees due to economic challenges.

ECONOMIC

• Major US banks, including Citigroup, JPMorgan, and Bank of America, reported declines in earnings due to various factors such as increased provisions for bad loans and lower interest income. Prologis, a logistics real estate company, reported strong Q4 results, while Charles Schwab’s profit fell. Netflix’s stock declined as it faced challenges in its video game growth strategy.

• Pakistan’s stock market and dollar bonds decline as the country retaliates against Iran with missile strikes, causing investor concern.

• The Supreme Court is hearing arguments that could limit the power of executive agencies and potentially overturn the Chevron deference doctrine.

• The Biden administration is proposing a rule to lower bank overdraft fees to as low as $3, potentially saving consumers billions of dollars annually. The rule would apply to banks with over $10 billion in assets.

• ECB officials are considering interest-rate cuts in June, with 45% of respondents expecting a reduction, while the Federal Reserve is not planning cuts until Q3. The ECB faces challenges in achieving its inflation target due to rising wages. Some officials are concerned that market expectations of rate cuts may hinder inflation control efforts.

CRYPTO

• The Securities and Exchange Commission has approved eleven Bitcoin ETFs, attracting billions of dollars in investment in their first few days of trading. However, there have been mixed results in terms of inflows and outflows for different ETFs.

• Edward Snowden criticizes JPMorgan CEO Jamie Dimon for calling Bitcoin a “pet rock” and warns about illegal activities.

• VanEck is closing its bitcoin futures ETF due to factors like performance, investor interest, liquidity, and assets under management.