headlines...by halloapp

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12-28-2023

TECH

• The US has temporarily lifted the ban on the import and sale of certain Apple Watch models following a patent dispute with medical technology company Masimo. Apple can continue selling the watches while the appeals court considers a longer-term pause.

• Former Apple design executive Tang Tan is leaving the company to join Jony Ive’s design firm LoveFrom and work on an AI hardware project with OpenAI CEO Sam Altman.

• In 2024, AI is expected to continue playing a larger role in our lives, with companies like Google challenging OpenAI’s dominance. OpenAI faces issues with its ChatGPT chatbot and plans to launch a GPT store. The AI industry also faces legal uncertainties and the need for regulatory oversight. Generative AI companies will face uncertainty, multimodal models will redefine AI capabilities, and advancements in healthcare and real-time diffusion applications are expected. Brands are reimagining the customer journey through conversational lenses using generative AI. The intersection of AI and healthcare is projected to have a significant impact, improving efficiency and patient care. The venture capital industry will see an explosion of AI startups and a resurgence of San Francisco as a tech hub. Concerns about misuse, biases, and copyright infringement lawsuits in the AI industry have emerged. The role of social media in the U.S. election, the use of AI in social media, and the lack of AI regulations are major concerns for tech in 2024.

• SoftBank will receive $7.6 billion worth of T-Mobile US shares as part of the 2020 Sprint sale agreement, boosting its stake.

• Micron Technology and Taiwan Semiconductor (TSMC) are both expected to benefit from the growing demand for AI chips, with revenue and stock performance projected to increase in 2024.

• Apple has been pressured by the Indian government to downplay its warnings about state-sponsored attacks on journalists and opposition figures.

MEDIA

• The New York Times has filed a copyright infringement lawsuit against OpenAI and Microsoft, claiming they used its articles without permission to train AI chatbots. The lawsuit seeks billions of dollars in damages.

• South Korean actor Lee Sun-kyun, known for his role in ”Parasite,” has died at 48 during a drug investigation.

• The NBA has approved the sale of the Dallas Mavericks for $3.5 billion to the family of Miriam Adelson, while Mark Cuban retains control of basketball operations.

CONSUMER

• Seattle-based online retailer Zulily is shutting down and undergoing liquidation due to financial instability, laying off hundreds of workers.

• Footfall on Boxing Day in central London increased by nearly 11%, while overall UK retail footfall rose by 4%.

• Alibaba’s attempt to dismiss a lawsuit over alleged counterfeit toy sales has been rejected by a US judge.

• The US Federal Trade Commission has sued Grand Canyon University for deceptive advertising, illegal telemarketing, and misrepresentation as a nonprofit entity.

REAL ESTATE

• DoubleLine Capital’s Ken Shinoda believes that if mortgage rates drop to around 5%, it could unfreeze the US housing market and potentially cause prices to fall. Other analysts expect rates to remain in the 6%-7% range through 2024.

• Experts predict a 20% decline in American commercial real estate prices by 2024, with potential loan defaults and a 43% decline in office values.

ECONOMIC

• Malaysia’s KLCI index rose 0.2% for the second consecutive day, led by Hong Leong Bank in the financial sector. Hong Kong stocks rose 2.5%, while the Nikkei 225 in Japan fell 0.4%. Asian stock markets are trading mostly higher on Thursday, following positive cues from global markets and optimism over interest rates. Foreign investors are pulling out of China stocks, with foreign investment in China-listed stocks down 87% to $4.35B since August. Chinese stocks have rallied as foreign investors bought onshore equities worth $1.9 billion, with industrial stocks surging the most.

• ClearBridge Investments’ ”ClearBridge Sustainability Leaders Strategy” underperformed in Q3 2023, highlighting various stocks including Ecolab, Home Depot, CVS Health, Hologic, and The Travelers Companies. The strategy sold its holdings in The Progressive Corporation, while Brookfield Renewable Partners stock fell.

• The Canadian Imperial Bank of Commerce (CIBC) is a diversified financial institution offering a range of products and services in Canada and internationally, including banking, investment, and insurance.

CRYPTO

• MicroStrategy invests $615.7 million to buy 14,620 Bitcoins, resulting in double-digit gains for crypto mining stocks and a surge in company stock.

• Crypto hedge funds, including Pantera Capital and Chainview Capital, are recovering from a challenging 2022 and anticipating a strong performance in 2023.