BUSINESS
Microsoft CEO Satya Nadella sees AI as new way to win search battle: Q&A
The Microsoft AI model for search — called Prometheus and built on some of the same technology OpenAI used for the viral ChatGPT chatbot — will allow it to make the biggest leap ever in the relevance of search results, he said. The new Bing adds the ability to chat and can even help users compose emails and other content.
BUSINESS
What to look out for in Joe Biden’s second state of the union speech
The downing of an alleged Chinese surveillance balloon that is hampering efforts to improve ties with Beijing and the specter of a US default that threatens to wreak havoc on the US economy will have investors, diplomats and lawmakers looking for reassurance as the president two challenges with international ramifications.
BUSINESS
Baidu surges as hope mounts over Chinese answer to ChatGPT
Baidu’s American depositary receipts jumped 12% at the New York open to the highest since March 2022.
WORLD
US trade gap widened to record in 2022 on imports surge
The annual shortfall in goods and services increased 12.2% to $948 billion, Commerce Department data showed Tuesday. The December gap widened to $67.4 billion from the prior month. The figures aren’t adjusted for prices.
INDIA
India rushes to long-term LNG deals to speed shift from coal
Petronet LNG Ltd., India’s biggest gas importer, wants to secure 12 million tons a year of additional supply under long-term contracts, Managing Director Akshay Kumar Singh said Tuesday in Bengaluru at India Energy Week.
BUSINESS
Microsoft Schedules Mystery Event for Tuesday as Company Accelerates AI Investments
The company didn’t disclose the content of the 10 a.m. local time event at the Redmond, Washington, headquarters in an invitation to reporters, but said it will “share some progress on a few exciting projects.”
TECHNOLOGY
OpenAI Is Drawing Competition From Fleet of Startups
“There’s obviously a whole crew of startups that are trying to chase after them — or leapfrog them,” said Guido Appenzeller, a former Intel Corp. AI executive and an Andreessen Horowitz adviser.
WORLD
US plans 200% tariff on Russian aluminium as soon as this week
The move has been contemplated for months, said the people, who asked not to be identified discussing internal deliberations
BUSINESS
China’s rising oil demand is no dead-cat bounce, says Kuwait
Energy traders are watching China closely, saying the pace of its recovery will be the single-biggest factor determining price moves this year.
BUSINESS
Dell to cut about 6,650 jobs, battered by plunging PC sales
The company is experiencing market conditions that “continue to erode with an uncertain future,” Co-Chief Operating Officer Jeff Clarke wrote in a memo viewed by Bloomberg. The reductions amount to about 5% of Dell’s global workforce, according to a company spokesperson.
BUSINESS
Tesla raises prices of its Model Y SUV in the US
The cost of the Model Y Long Range has increased by $1,500 to $54,990, while the Model Y Performance is up $1,000 to $57,990, according to the company’s website.
BUSINESS
Adani rout drags India’s weighting in EM index as Taiwan gains
As of the end of January, Taiwan’s weighting in the MSCI Emerging Markets Index rose to 14.2%, behind leader China’s 31.2%, while India’s fell to the third spot with 13%, according to Bloomberg-compiled data. India captured the second spot from Taiwan in August.
BUSINESS
Apple’s latest iPhones sell at rare $100-plus discounts in China
JD.com Inc. and state carrier China Mobile Ltd. are among the retailers taking 800 yuan ($118) off the iPhone 14 Pro range over 11 days.
BUSINESS
StanChart stops accepting Adani bonds as collateral: Report
The move follows similar actions by Citigroup Inc.’s wealth arm and Credit Suisse Group AG, as the Adani securities were roiled by allegations of fraud from US-based Hindenburg Research. The Adani group has repeatedly denied the short seller’s allegations.
HEALTH-AND-FITNESS
Evidence Is Mounting That Covid Is Bad for the Brain
Several studies have linked infections with brain fog, trouble concentrating and memory lapses.
COMMODITIES
Oil’s new map: How India turns Russia crude into the West’s fuel
India shipped about 89,000 barrels a day of gasoline and diesel to New York last month, the most in nearly four years. Daily low-sulfur diesel flows to Europe were at 172,000 barrels in January, the most since October 2021
ECONOMY
Jobs galore gives US consumers firepower to fight off recession
For much of the last two years, Americans’ pay couldn’t keep up with the rising cost of staples like food, rent or gasoline. But with price increases now slowing down, workers are finally seeing their inflation-adjusted incomes start to rise
BUSINESS
Adani Enterprises puts Rs 1,000-crore bond plan on backburner after market rout
The development is the latest in a sudden reversal of fortune for the conglomerate, after US-based short-seller Hindenburg Research late last month accused it of stock manipulation and accounting fraud.
BUSINESS
Adani rout eases, bringing some relief after turbulent week
At one point on Friday, losses for some Adani stocks including the flagship reached more than 50% since Hindenburg published its explosive report. The short seller said at that time that seven listed firms of the group are 85% overvalued even by taking the their financial metrics at face value.
LUXURY-LIFESTYLE
Independent watchmakers surge as Rolex, Patek remain unattainable
Horologer Ming is just one of the many brands that’s getting a moment in the sun among collectors who are frustrated with the big brands’ prices and availability—and who are discovering the quality of the small shops.
BUSINESS
Tesla Shipments of China-Made Cars Climbed 18% in January
The US electric vehicle maker shipped 66,051 China-built cars in January, according to preliminary data from China’s Passenger Car Association released Friday. That’s an 18% increase from December.
BUSINESS
Goldman Sachs, JPMorgan say Adani debt offers value to trading clients
Adani securities have attracted attention from opportunistic investors amid a staggering equity rout and a debt slump that took some bonds to distressed levels.
BUSINESS
Boris Johnson’s brother Jo resigns as director of Adani-linked firm
Jo Johnson resigned from the role this week, according to a regulatory filing. He was appointed in June 2022.
BUSINESS
Total says exposure to Adani is $3.1 billion of capital employed
Total owns stakes in businesses including Adani Total Gas Ltd. and Adani Green Energy Ltd., and has said its investments were undertaken in full compliance with Indian laws and its own internal governance processes.
