headlines...by halloapp

To provide feedback, please reply to this email.

Forwarded this email? Subscribe here for more.

12-10-2023

TECH

• The European Union has reached a preliminary deal on comprehensive regulations for artificial intelligence, including models like ChatGPT.

• Apple has blocked third-party apps like Beeper Mini that allowed Android users to access iMessage due to security risks.

• Elon Musk plans to reinstate conspiracy theorist Alex Jones’ account on social media platform X following a poll with 70% support.

• OpenAI’s release of ChatGPT last year caused concern among tech giants, leading to Google’s introduction of Gemini, an AI technology that outperforms OpenAI’s GPT-4 in knowledge and problem-solving skills. Gemini is expected to drive product innovation and AI integration across platforms.

• Officials from the US, South Korea, and Japan vow to enhance security cooperation and address North Korea’s cyber activities, nuclear threats, and missile provocations.

• White Brook Capital Partners’ investor letter shows Alphabet ranks 7th among hedge funds despite a -3.16% return. Microsoft and Meta Platforms are also popular stocks.

MEDIA

• University of Pennsylvania President Liz Magill resigned after facing backlash for her testimony on antisemitism at a congressional hearing.

• Shohei Ohtani signs a historic $700 million, 10-year contract with the Los Angeles Dodgers, becoming the highest-paid player in sports history. This deal may benefit his corporate sponsors.

• Hong Kong’s first district council elections under new rules excluding pro-democracy candidates lead to low turnout and arrests.

• Manchester United manager Erik Ten Hag admits squad is not good enough after a shocking 3-0 loss to Bournemouth.

• Three university presidents from Harvard, MIT, and the University of Pennsylvania face criticism for their vague responses on calls for genocide against Jews, with some donors pulling funding and lawmakers calling for their removal.

• Liverpool defeated Crystal Palace 2-1, with Mo Salah scoring his 200th goal for the club, putting them at the top of the Premier League. Manchester United lost 3-0 to Bournemouth.

• 14 people were killed in a clash between a criminal gang and a farming community in central Mexico, leaving 7 injured.

• Columbus Crew SC, led by Wilfried Nancy, won their second MLS Cup in four seasons by defeating Los Angeles FC 2-1 in a rain-soaked final.

• Former hostages held by Hamas in Gaza share their stories in Tel Aviv, urging for the release of remaining captives. Thousands gather to demand freedom for all hostages, some recounting harsh conditions. Youngest Israeli hostages face challenges in recovering from malnutrition and emotional abuse.

CONSUMER

• SKP Resources Bhd, Berjaya Land Berhad, InNature Berhad, and Burlington Stores have all experienced a decline in return on capital employed (ROCE), indicating potential profitability concerns.

• The U.S. Consumer Product Safety Commission warns of deaths and ER visits linked to small magnetic balls found in toys, issuing a recall.

• LVMH has sold a majority stake in its cruise retail business to a group led by Jim Gissy, with LVMH retaining a minority share.

• The BRICS+ Fashion Summit 2023 took place in Moscow, showcasing designers from Brazil, China, India, South Africa, and more.

• Global-e, a growth stock, experienced a 75% surge in its stock in 2023 thanks to strong performances from Shopify and Amazon.

REAL ESTATE

• Australia plans to triple fees on purchases of existing homes by foreign buyers to increase affordable housing supply and raise half a billion dollars.

• Immigrants in Canada are leaving due to high living costs and rental shortages, causing a surge in reverse immigration.

• The Sitzer/Burnett class-action suit against the NAR has led to copycat suits and uncertainty in the real estate industry. Maine agents are concerned about potential changes to home sales commissions after a federal court ruling accused NAR of conspiring to keep commissions high.

• Moderate Democrat John Whitmire wins Houston mayoral election, defeating Sheila Jackson Lee, focusing on crime reduction and infrastructure improvement.

ECONOMIC

• Range Resources Corporation, C&F Financial Corporation, Enterprise Financial Services Corp, First Savings Financial Group, and Community Trust Bancorp are all set to trade ex-dividend on December 14th, with various dividend payments per share. Chubb Limited, United Community Banks, Huntington Bancshares, ChoiceOne Financial Services, Hawthorn Bancshares, Huntsman Corporation, and Citizens Financial Services are also set to trade ex-dividend in the coming days, with different dividend payments per share.

• Central banks, including the Bank of England and Federal Reserve, are expected to keep interest rates unchanged despite concerns about high inflation.

• Rishi Sunak faces criticism and potential electoral consequences for his Rwanda asylum plan amid legal challenges and internal conflicts within the Conservative party.

• China’s consumer prices fell by 0.5% in November, the steepest decline in three years, while producer prices dropped 3%, highlighting deflationary risks and the challenges facing the economic recovery.

• Javier Milei, Argentina’s newly inaugurated far-right president, plans to implement austerity measures, reduce ministries, and has controversial stances on the environment.

CRYPTO

• Bitcoin’s price could reach $50,000 next week, but analysts warn of possible overheating. The breach of $44,000 mark sparks optimism.

• The SEC will pursue its case against Binance despite the $4.3 billion settlement between Binance and the DOJ.