Finance

Sam Altman says AI needs to do more than cure cancer to win over skeptics

Sam Altman says AI needs to do more than cure cancer to win over skeptics

Finance—

Cure cancer with AI, and the doubters will understand the hype. That may be Silicon Valley’s standard pitch, but Sam Altman says it is not ambitious enough. Speaking to Bloomberg Television on Thursday, the OpenAI CEO said that the tech industry has done a “terrible job” making the positive case…

Rich New Yorkers’ incomes have soared, but it means more wealth to tax

Rich New Yorkers’ incomes have soared, but it means more wealth to tax

Finance—

The Big Apple is getting more unequal: A new report from New York City Comptroller Mark Levine found that income inequality worsened in the city from 2019 to 2024. That’s not entirely unexpected. The country’s financial capital has long had a wealth gap between its Wall Street bigwigs and everyday…

Europe is rethinking where it keeps its gold

Europe is rethinking where it keeps its gold

Finance—

Geopolitical turmoil is pushing central banks to think harder about where they keep their gold reserves. On Wednesday, the Netherlands central bank said it had reallocated about 86 metric tons of gold from New York and Ottawa to London between March and August, “in view of increasing geopolitical…