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 […]
Elon Musk
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 […]
China’s exports unexpectedly surged in March, with officials flagging rising demand for electric vehicles, but analysts cautioned the improvement partly reflects suppliers catching up with unfulfilled orders after last year’s COVID-19 disruptions. Exports in March shot up 14.8% from a year ago, snapping five straight months of declines and stunning economists who predicted a 7.0% […]
Twitter Inc CEO Elon Musk said on Wednesday the social media company is “roughly breaking even,” as most of its advertisers have returned and its aggressive cost-cutting efforts have started bearing fruit after massive layoffs. Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp […]
Tesla Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China’s Premier Li Qiang, two people with knowledge of planning for the trip told Reuters. The exact timing of the visit is subject to Li Qiang’s availability, one of the sources said. Tesla and […]
Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in developing systems more powerful than OpenAI’s newly launched GPT-4, in an open letter citing potential risks to society and humanity. Earlier this month, Microsoft-backed OpenAI unveiled the fourth iteration of its GPT (Generative Pre-trained Transformer) AI […]
Activity at Binance was a pretty clear case of evasion and U.S. authorities needed to step in aggressively and as quickly as possible, the chairman of the Commodity Futures Trading Commission said on Tuesday. The U.S. agency sued Binance, the world’s largest crypto exchange, on Monday. “This seemed to be a pretty clear case of […]
Shares of First Citizens BancShares Inc climbed to a record high on Tuesday, extending gains for a second day after scooping up the assets of failed peer Silicon Valley Bank. First Citizens BancShares rebounds to record high, https://fingfx.thomsonreuters.com/gfx/mkt/gdvzqkemmpw/Pasted%20image%201680024643514.png First Citizens rallied as much as 7.2%, briefly hitting an all-time peak of $959.99 before paring gains. […]
A trial kicks off in San Francisco federal court on Monday to determine how much money Tesla Inc must pay to a Black elevator operator who a jury determined was subjected to severe racial harassment while working at the electric auto maker’s flagship assembly plant. The trial is scheduled to last five days. Last year, […]
Elon Musk’s brain implant company Neuralink has approached one of the biggest U.S. neurosurgery centers as a potential clinical trials partner as it prepares to test its devices on humans once regulators allow for it, according to six people familiar with the matter. Neuralink has been developing brain implants since 2016 it hopes will eventually […]