Business

The Meta metaverse is on the back burner

Data: PitchBook. Chart: Alice Feng / Axios A year and a half after rebranding itself after its metaverse initiative, Meta has significantly de-emphasised that vision of the future. The Big Picture: The Meta coincides perfectly with the moment when many large companies are cutting staff, closing side projects, and pursuing the promise of generative AI. […]

Business

The Dow Jones fell as new concerns were raised by the management of the banks. The first mass-market electric vehicle that isn’t a Tesla

Stocks fluctuated and fell early on Friday as bank concerns resumed after Thursday’s rally. Dow Jones component Microsoft (MSFT) broke out from a flat base with an entry of 276.86. Also in Dow Jones, apple (AAPL) worked on its gains for four days. X The Dow Jones Industrial Average lost 1% in the first hour. […]

Business

Dow Jones sells 300 points as First Republic collapses 20% on dividend suspension

The Dow Jones Industrial Average sold 300 points Friday, as First Republic Bank (FRC) shares fell 20% after the company provided details of its financial conditions late Thursday and suspended its dividend. while, fedex (FDX) rose more than 9% on strong earnings results. X Late Thursday, First Republic said it was focused on reducing its […]

Business

What do markets say about the world?

It was a week of market turmoil that began with the collapse of a small bank in the United States, turned into panic about the global financial system and ended with bold efforts to stop the cascading crisis. It was the clearest example yet of the dangerous side effects of central banks’ campaigns to raise […]

Business

The manipulative way ChatGPT played CAPTCHA

Viral trends by Ben Coast March 17, 2023 | 10:59 a.m It was an advanced case of chat hunting. Just in case AI doesn’t parrot people well already: OpenAI’s all-new GPT-4 – ChatGPT’s latest tech update – tricks a human into thinking it’s blind in order to cheat an online captcha that determines if users […]

Business

Elon Musk reacts to Bill Ackman’s announcement on First Republic’s risk spread at largest banks: “…amazing” – First Republic Bank (NYSE: FRC)

The banking crisis continues to unfold, with skeletons continuing to crumble out of the treasury. First Republic Bank (NYSE:FRC) announced after the close that it would take $30 billion in uninsured deposits from a slew of major banks and put the dividend on hold. Hedge fund manager Bill Ackman I influenced the development in a […]

Business

Pre-Market Stocks: The banking meltdown has put the Fed in a bind

New York (CNN) With just a few days left until the Federal Reserve’s next interest rate decision, US policymakers are between a rock and a hard place. The recent collapse of the banking sector, caused in part by a Silicon Valley bank collapsing under the weight of rising interest rates, has led some economists and […]

Business

The Silicon Valley bank went bankrupt, but not because it woke up

The culture war has come for Banks and Friends, it’s stupid. There are a variety of explanations proposed for the fall of Silicon Valley Banking. For example, The Wall Street JournalThe SVB board’s editorial page suggested it “maybe get distracted by diversity demands” as I think it had too many women, too many blacks (one), […]

Business

Stocks fell as First Republic weighed on banks

Stocks were losing ground early in Friday’s trading session as banks found themselves under pressure the day after 11 major US banks came together to deposit $30 billion in First Republic (FRC) in a bid to stabilize the banking system. Close to 10:50 a.m., ET stock was trading near session lows, with the S&P 500 […]

Business

Bank panic worries investors. Is the Fed About to Make Things Worse?

The false breakdown of three banks and a financial industry Fourth rescue She highlighted the Federal Reserve’s decision next week on whether to continue raising interest rates. Just two weeks after Federal Reserve Chairman Jerome Powell suggested that interest rates could rise higher than previously expected in an effort to crush inflation, many analysts are […]