Asset manager BlackRock Inc is launching a months-long process on Tuesday to help the Federal Deposit Insurance Corp offload $114 billion of assets it picked up recently from failed banks, Bloomberg News reported on Monday, citing emails. Earlier this month, the Federal Deposit Insurance Corp (FDIC) retained BlackRock’s unit to sell the securities portfolios it […]
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Apple Inc is seeking to attract U.S. savers with a new high-yield deposit account it announced on Monday with partner Goldman Sachs Group Inc amid increased competition among financial institutions for consumer dollars. Apple said users of its Apple Card can earn 4.15% on savings accounts, or 10 times higher than the national average, citing […]
A look at the day ahead in Asian markets from Jamie McGeever. Investors’ focus on Tuesday rests squarely on China: From an economic and market perspective, eyes are on a raft of data including first-quarter GDP; while the latest twist in souring U.S.-Sino relations will do little to ease geopolitical concerns. U.S. law enforcement officials […]
Italy’s recent move to ban ChatGPT, a popular chatbot powered by artificial intelligence (AI) developed by Open AI, has sparked a heated debate among European regulators. While some argue that Italy’s ban is driven by concerns over data privacy and compliance with the General Data Protection Regulation (GDPR), others suspect geopolitical factors are at play. […]
The recent announcement of UBS Group’s acquisition of Credit Suisse Group has sent shockwaves through the Swiss banking industry. The combination of the country’s two largest banks is expected to create a dominant player in the domestic market, with a pro forma market share of about 30% of domestic deposits and 25% of domestic loans, […]
National Public Radio (NPR) will no longer post content to its 52 official Twitter feeds in protest against a label by the social media platform that implies government involvement in the U.S. organization’s editorial content. NPR said on Wednesday Twitter refused its repeated requests to remove the inaccurate label of “state-affiliated media”, now changed to […]
Italy’s data protection agency set out a list of demands on Wednesday which it said OpenAI must meet by April 30 to address the agency’s concerns over the ChatGPT chatbot and allow the artificial intelligence service to resume in the country. Almost two weeks ago Microsoft Corp-backed OpenAI took ChatGPT offline in Italy after the […]
Apple Inc is in talks with suppliers to make MacBooks in Thailand as part of the company’s ongoing efforts to expand its manufacturing presence beyond China, Nikkei reported on Thursday. Suppliers who are participating in these talks have existing manufacturing complexes in Thailand for other clients, and are discussing possible assembly and production of components […]
Apple Inc has significantly increased its production of iPhones in India, accounting for almost 7% of its total iPhone production, up from 1% in 2021, Bloomberg News reported on Thursday. The company assembled more than $7 billion worth of iPhones in the country in the last fiscal year, the report said. Apple did not immediately […]
The Republican-led U.S. House of Representatives Judiciary Committee has subpoenaed the Federal Trade Commission’s chair for documents related to the regulatory agency’s privacy probe of Twitter, the panel said on Wednesday. In a statement, the committee said its Chairman Jim Jordan and others had asked FTC Chair Lina Khan for information about the probe following […]