Emmett Shear Named Interim CEO of OpenAI: An Analysis of the Move and its Implications It was a surprising move when former CEO of OpenAI, Sam Altman, was ousted from his role last week. However, the shock did not last long, as his replacement has already been named. After much speculation and rumors over the…
Mastercard collaborates with Feedzai to combat crypto fraud In a bid to prevent and detect fraud in the cryptocurrency space, Mastercard has teamed up with Feedzai, a leading regulatory technology platform. This partnership aims to utilize artificial intelligence to combat money laundering and financial scams reaching over 6,000 crypto exchanges. The collaboration involves Feedzai integrating…
Kyle Vogt, the CEO and co-founder of Cruise, an autonomous vehicle venture owned by General Motors, has resigned from his position. The announcement was made in a company statement sent to CNBC on Sunday. Mo Elshenawy, former executive VP of engineering at Cruise, will now take over as president and CTO for the company. Vogt…
U.S. Stocks Set to Open Steady as Third Consecutive Winning Performance Ends U.S. equity futures are preparing to open steady on Sunday evening, with all major averages coming off of their third consecutive winning performance. Futures tied to the Dow Jones Industrial Average fell slightly, along with S&P 500 futures and Nasdaq 100 futures. The…
In 2023, the idea of diversifying your stock portfolio to minimize risk proved to be a disappointing strategy. A wide array of sectors such as financials, retailers, drugs, foods, utilities, autos, airlines, and oils saw steep declines if the timing of investments was not perfect. This reality challenges the classic investment rule of not putting…
Legendary value investor Jeremy Grantham has launched his firm’s first active ETF called the GMO U.S. Quality ETF. He has put GMO partner Tom Hancock in charge of it. According to Hancock, interest in active ETFs has increased in recent years, especially among institutional clients, due to tax advantages and ease of trading. The new…
Boston Fed President Susan Collins: More rate hikes may be needed despite recent inflation signs Boston Federal Reserve President Susan Collins cautioned that despite recent positive signs on inflation, more interest rate hikes could still be necessary. In an interview with CNBC, Collins emphasized the importance of appreciating the good news but also staying the…
Midday Trading Update: Gap, Spectrum Brands, and ChargePoint Make Headlines In the latest midday trading update, several companies are making headlines with significant stock movements. Gap, the apparel retailer, saw shares surge by 30.6% after posting fiscal third-quarter results that beat Wall Street’s estimates. The strong sales at Old Navy and improvements at its namesake…
Several companies are making headlines in premarket trading, especially Alibaba and BJ’s Wholesale Club. Alibaba’s U.S.-listed shares slipped 3.2% after announcing it would no longer spin off its cloud computing business, citing U.S. export restrictions on advanced chips. BJ’s Wholesale Club saw its shares retreat 4.6% after revising its expectation for comparable store sales in…
Volvo Cars Shares Plummet 14% as Parent Company Geely Holding Group Begins Sale of 100 Million Shares Volvo Cars found itself in a turbulent position as its shares plummeted by as much as 14% on Friday morning. This drop came after its parent company, Zhejiang Geely Holding Group, initiated a sale of approximately 100 million…
