BUSINESS
Humanity Protocol becomes crypto’s new digital identity unicorn
The startup is building a blockchain-based identity system that recognizes individuals by using scans of people’s palms. It plans to announce Wednesday that it raised $30 million at a $1 billion valuation
BUSINESS
Global funds are making a bet on India’s longer-maturity bonds
The proportion of foreign money allocated to local bonds due in 10 years or more climbed to 17% last week, up from just 11% in September, while that in debt maturing in five years of less slipped 10 percentage points to 44% over the same period, according to calculations by Bloomberg.
WORLD
China mulls government purchases of unsold homes to ease glut
The State Council is seeking feedback from several provinces and government entities on the preliminary plan, said the people, asking not to be identified discussing a private matter.
WORLD
Making ChatGPT 'sexy' might not end well for humans
The most impressive thing about the new GPT-4o (the “o” stands for omni) is that it can discuss what it “sees” through your phone camera in real time, a skill that Google faked in a demo for its AI model last December. More startling was that it didn’t just sound human but … strangely seductive.
BUSINESS
Traders set up for post-CPI pop, targeting US 10-year yield at 4.3%
Heavy buying over the past week has centered on options that would stand to benefit from US 10-year yields dropping to roughly 4.3%, some 15 basis points below where they are now and the lowest in more than a month.
WORLD
Bitcoin-proxy MicroStrategy added to key MSCI world stock index
The Tysons Corner, Virginia-based enterprise software maker is one of the three largest additions to the MSCI World Index based on market capitalization, MSCI Inc. said in a statement on Tuesday.
WORLD
Bill Gross sells GameStop, AMC options to cash in on meme mania
Bill Gross is making a habit of selling options on meme stocks, and his latest trades center on GameStop Corp. and AMC Entertainment Holdings Inc.
WORLD
Brazil President Lula fires Petrobras CEO after dividend dispute
The firing was confirmed by people familiar with the matter, who asked not to be identified discussing private matters. Petrobras, as the company is also known, said late Tuesday in a statement that Prates is expected to officially resign at an upcoming board meeting.
WORLD
AI Startup co-founded by David Sacks officially launches
Founded in 2021, the startup formally debuted its service on Tuesday after months of private testing. The idea is to let AI services to join in specific chats, allowing employees to “invite” Glue’s tool to conversations in apps like Google Meet and Zoom.
WORLD
Google executives hint that AR glasses are poised for a comeback
Alphabet Inc.’s Google has struggled for years to get AR spectacles to work. After the initial headset was phased out in 2015, the company sold enterprise versions for businesses, but those too were discontinued last year.
WORLD
Asia’s killer April heat wave was made much worse by climate change
Extreme heat affected hundreds of millions across the region last month, adding to the plight of 1.7 million people displaced by the war in Gaza as well as those without access to cooling. Hundreds of people died from heat-related causes, although more fatalities were likely to have gone unreported, according to the researchers.
WORLD
Sam Altman, Suzuki back Robocar startup to chase growth in Asia
The Series B round values Glydways, which is building a robocar network in San Jose, at $350 million to $400 million, people familiar with the matter said.
WORLD
Ex-Jane street traders cite pay letdown in secrets countersuit
Douglas Schadewald and Daniel Spottiswood said in counterclaims filed Tuesday in Manhattan federal court that they led the growth of Indian options trading at Jane Street from a “relatively small operation” at the beginning of the year to a highly profitable business by the end of 2023.
WORLD
OpenAI chief scientist Ilya Sutskever is leaving the company
Ilya Sutskever, part of the founding team at the company, was also a key player in the brief but dramatic ouster of OpenAI Chief Executive Officer Sam Altman in November.
WORLD
Record $4.3 million watch auctions Vault Rexhepi to top tier
A unique ‘Chronomètre Antimagnetique’ fetched 2.1 million Swiss francs ($2.3 million) at the Only Watch charity auction on Friday.
WORLD
Qatar to ‘liberate’ tourism sector to extend post-world cup boom
The Persian Gulf nation’s tourism industry has defied predictions of a hard landing after the quadrennial tournament on which it splurged more than $300 billion. It welcomed four million visitors in 2023, a 39% increase over the World Cup year.
WORLD
China’s $4 billion lychee harvest devastated by extreme weather
The nation is both the world’s largest producer and consumer of the fruit, and a significant exporter.
BUSINESS
Fraud concerns raise red flags for India’s booming SME IPOs
The crackdown comes after the regulator issued warnings earlier this year of price manipulation in tiny IPOs. Analysts say the development presages greater regulatory action, which may temper further gains in the S&P BSE SME IPO Index of micro listings that has soared more than 5,000% since the start of 2021.
BUSINESS
US money manager cuts China debt holding to buy India bonds
China’s bonds have rallied “so far that we’re moving out of it,” David Hoffman, chairman and head of global fixed income at the US-based money manager, said in an interview.
BUSINESS
Indian bonds among least vulnerable in Asia to treasury swings
For every one basis-point gain in the 10-year US paper, yields on benchmark Indian notes rose by an average 0.23 basis points, according to a Bloomberg analysis of the moves since 2022. For a similar drop in the US debt, Indian bond yields fell by 0.32 basis points.
WORLD
Nvidia rivals gold as shield against inflation: Survey
Gold, the haven of choice for decades, is still seen as the best safeguard against the risk of rising prices, according to 46% of survey participants. But nearly a third said the tech behemoths are their first pick for the role.
WORLD
Read the full transcript of Bloomberg’s interview with Emmanuel Macron
Following is a transcript of French President Emmanuel Macron’s interview with Bloomberg Editor-in-Chief John Micklethwait.
WORLD
Emmanuel Macron puts French banks in play with plan to transform Europe
“Dealing as Europeans means you need consolidation as Europeans,” Macron said in an interview with Bloomberg Editor-in-Chief John Micklethwait on the sidelines of the Choose France investment summit in Versailles near Paris.
WORLD
AI pioneer Kai-Fu Lee aims to bring China its ChatGPT moment
Lee’s firm, 01.AI, is launching a free productivity assistant called Wanzhi, the latest in a series of AI products it’s developing.
