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OpenAI is transitioning to a for-profit company so it can raise billions more in funding.The company has operated under a nonprofit board since its launch, adding a for-profit arm in 2019.It’ll need to take several steps as part of this change. OpenAI took the tech world by surprise — again…
Investing.com — The time may have come for investors to make key decisions about their cash alternative allocations and fixed income positions as the Federal Reserve embarks on a campaign of policy easing, according to analysts at Wells Fargo. In a note to clients, the analysts said carrying cash has…
Eric Adams has become the first mayor in modern New York City history to be indicted while in office.Adams was indicted following a corruption probe that led to chaos in his office and a series of resignations, The New York Times first reported on Wednesday.Details of the charges have not…
(Reuters) – Microsoft-backed OpenAI is planning to restructure its core business into a for-profit benefit corporation no longer controlled by its non-profit board, Reuters reported on Wednesday, even as another senior executive departed. The ChatGPT-maker could be worth $150 billion after the restructuring, and CEO Sam Altman will also receive…
US consumers are flashing a key signal that has typically preceded a recession — and investors have reason to be on high alert for more signs of weakness, according to Société Générale.The bank pointed to the decline in the personal savings rate in the US, with households saving less than…
Investing.com — UBS strategists predict that major commodity sectors will bottom out in the coming months, as current market challenges start to ease. Despite weak performance in most commodity categories—except precious metals—the outlook remains positive, with expected sector-wide recovery and growth into 2025. “Over 6-12 months, we forecast total returns…
(Refiles to fix typo in ‘companies’ in paragraph three) (Reuters) -Constellation Energy and Microsoft (NASDAQ:) have signed a power deal to help resurrect a unit of the Three Mile Island nuclear plant in Pennsylvania in what would be the first-ever restart of its kind, the companies said on Friday. Key…
The group will consist only of independent board members, providing relief to critics who questioned if the committee could really serve its function as a watchdog if its CEO was part of it. Bret Taylor, OpenAI’s chair, has also stepped down from the committee.The committee was first formed in May,…
Investing.com – European stock markets edged lower Monday, as investors prepared for important policy-setting meetings from both the U.S. Federal Reserve and the Bank of England. At 03:05 ET (07:05 GMT), the in Germany traded 0.2% lower, the in France fell 0.2% and the in the U.K. dropped 0.1%. Fed…
Inversting.com — The luxury sector is currently facing a series of key debates among investors, shaped by the sector’s performance, consumer behavior, and macroeconomic factors. As per analysts at Morgan Stanley, several major themes have emerged that define these investor debates, centered around demand trends, pricing strategies, regional market dynamics,…
