WORLD
Michael Dell says AI PCs will be ‘pretty standard’ in 2025
So-called AI PCs contain neural processing units, a kind of chip that is meant to speed up artificial intelligence work like running a chatbot.
WORLD
Nvidia CEO Jensen Huang says Dell partnership is key in its push to expand AI
Dell is one of the largest providers of computing infrastructure to government agencies and businesses — a market that Nvidia doesn’t directly serve.
WORLD
Microsoft’s CEO Satya Nadella says new AI PCs will revive PC-mac rivalry
“Apple’s done a fantastic job,” Nadella said in an interview with Bloomberg Television on Monday. “We now want to bring real competition back to the Windows versus Mac.”
WORLD
Jamie Dimon says succession at JPMorgan is ‘well on the way’
The chief executive officer of JPMorgan Chase & Co. told shareholders the timetable is “not five years anymore,” in response to a question about how long he planned to remain CEO. The largest US bank is “well on the way” with its succession plans, he said during the firm’s investor day.
WORLD
Tempus AI files for US IPO touting ‘intelligent diagnostics’
The company said in its filing Monday with the US Securities and Exchange Commission that it’s creating “intelligent diagnostics” for precision medicine. Tempus AI didn’t give details of the IPO such as the offer price, which will be included in future filings.
WORLD
Scarlett Johansson hired lawyers to push back on ‘Eerily Similar’ OpenAI voice
In a statement on Monday, the actress said she received an offer from OpenAI Chief Executive Officer Sam Altman in September about voicing an audio feature for the company’s popular ChatGPT chatbot.
TECHNOLOGY
OpenAI pulls Scarlett Johansson soundalike voice from ChatGPT
The voices are also part of OpenAI’s updated GPT-4o, which debuted earlier this month and can reply to verbal questions from users with an audio response
COMPANIES-2
Chaos reigns inside Tesla as workers await next slew of job cuts
Elon Musk says Tesla still plans to grow the network, albeit at a slower pace. He rehired de Zegher, but hasn’t said how many others will be asked to return
INDIA
India shaping up as ‘big win’ for Australian trade, Don Farrell says
Canberra is currently negotiating a free trade agreement with India but the deal faces difficulties over agricultural products.
BUSINESS
India’s bond index entry not enough to lift rating, Moody’s says
Moody’s rates India at its lowest investment grade ‘Baa3’ with a stable outlook.
WORLD
China’s capital outflow surges to highest since 2016 in April
The collapse in China’s foreign direct investment inflows may be more a reflection of comparatively higher interest rates in the US than of foreign firms losing interest in China
BUSINESS
One of the last big bears on Wall Street turns bullish on US stocks
The Morgan Stanley strategist recommends a barbell approach of quality cyclicals stocks and quality growth and maintains a long exposure to certain defensive areas such as consumer staples and utilities
WORLD
Iran President Ebrahim Raisi dead in helicopter crash
Rescuers on Monday found the helicopter that had been carrying the president and other officials including Foreign Minister Hossein Amirabdollahian, who also died, the semi-official Mehr news agency reported. It crashed on Sunday near Tavil village in northwest Iran.
WORLD
Saudi Crown Prince Mohammed bin Salman postpones Japan trip over king’s health
The trip set to start Monday was to have been the crown prince’s first visit to Japan since 2019. Hayashi said at a regular news briefing in Tokyo the two nations would reschedule the visit, without indicating when.
WORLD
Chinese banks keep lending rate unchanged after PBOC hold
The one-year loan prime rate was held at 3.45% on Monday as expected by economists surveyed by Bloomberg. The five-year rate, a reference for mortgages, was kept at 3.95%, according to the People’s Bank of China, in line with forecasts.
BUSINESS
Copper surges to record as investors bet on looming shortage
Copper futures on the London Metal Exchange jumped as much as 1.7% to $10,848 a ton, exceeding the previous record set in March 2022.
WORLD
Slowing inflation primes G-7 central banks for June
Days after US data revealed cooler-than-expected consumer-price growth, the UK, Canada and Japan will all publish numbers for April that are likely to go in the same direction. A euro-zone wage report, meanwhile, will also offer key evidence sought by policymakers.
TECHNOLOGY
Snapchat CEO Evan Spiegel shifts focus to AI after reviving Ad business
“There was a recognition that we’d fallen behind the curve on the machine learning side, which, to some degree, was reflected in the business performance,” Spiegel said
BUSINESS
From Tokyo to New York, stock markets are on a record-hitting spree around the world
Looming interest rate cuts, healthy economies and corporate earnings are driving the activity.
BUSINESS
US firm becomes world's most valuable solar firm after Chinese rivals slip
First Solar Inc. becomes the world's most valuable solar manufacturer, surpassing Sungrow Power Supply Co. and ending China's dominance since 2018.
BUSINESS
A heavy monsoon season is great news for these Indian stocks
Motorcycle manufacturers, farm-equipment makers and producers of fast-moving consumer goods have rallied following forecasts of timely and above-normal monsoon rains in 2024
BUSINESS
China attempts to end property crisis with broad rescue package
The support package also includes lower down-payment requirements for homebuyers and 300 billion ($42 billion) of central bank funding to help government-backed firms buy excess inventory from developers
BUSINESS
India’s biggest junk bond faces creditor demands as delay sought
Some holders of the 143 billion rupee ($1.7 billion) note issued last year by Goswami Infratech Pvt are planning to ask the company for sweeteners in exchange for potentially accepting a company proposal to delay a payment, people familiar with the matter said.
WORLD
AI search startup adds veterans of Google, Bing as advisers
The new advisors will include former Uber Technologies Inc. executive Emil Michael, Android co-founder and Google advisor Rich Miner, and Mikhail Parakhin, the former head of Microsoft Corp.’s Bing Search, the company said.
