Author: News Room

Bloomberg LP has developed an AI model using the same underlying technology as OpenAI’s GPT, and plans to integrate it into features delivered through its terminal software, a company official said in an interview with CNBC.Bloomberg says that Bloomberg GPT, an internal AI model, can more accurately answer questions like “CEO of Citigroup Inc?”, assess whether headlines are bearish or bullish for investors, and even write headlines based on short blurbs.Large language models trained on terabytes of text data are the hottest corner of the tech industry. Giants such as Microsoft and Google are racing to integrate the technology into…

Some Morgan Stanley financial analysts say the commercial real estate industry could be headed for a crisis worse than the 2008 great recession. This comes after businesses have left downtowns across the country with an increase in remote work and higher interest rates.  Many downtown buildings are owned by investment firms who rely on bank loans. But with businesses not renting as much office space and rising interest rates, some worry these firms may not have the money to pay back the banks.  In downtown Minneapolis, people are returning to see the Minnesota Twins play ball, attend a concert or catch a Broadway show.  “As we sit here today, we’re really beginning to move in a…

Progressive mayors in Boston and Los Angeles have been joined by Chicago’s Brandon Johnson, all hoping not only to change criminal justice but also spend more on affordable housing, child care, education, and other progressive polices. But these progressives (along with a significant number of centrist mayors) will face serious budget and political challenges that may forestall their ambitions. Chicago’s progressive mayor-elect, Brandon Johnson, won a runoff against Paul Vallas by 2%. Vallas ran on tougher crime policies and against the city’s teachers’ union. In sharp contrast, Johnson was a teachers’ union organizer who in 2020 had supported a resolution…

I’m 38 years old with enough invested for traditional retirement. Here’s how positive peer pressure helped me, and can help you, accelerate your retirement savings. Six years ago, I found myself in $300,000 of debt — including two mortgages — and barely any retirement savings. I’m ashamed to admit the main influencer of my saving and spending habits was to keep up with what I perceived as successful in my social circles. In my twenties, I wanted to be as fashionable as my friends and co-workers. In my thirties, I wanted to have as big a house as my family…

BlackRock (NYSE: BLK) is scheduled to report its fiscal Q1 2023 results on Friday, April 14, 2023. We expect BlackRock BLK to top the consensus estimates for revenues and earnings. The company outperformed the estimates in the last quarter, despite a 15% y-o-y decrease in the total revenues to $4.3 billion. The top line suffered due to a drop in assets under management (AuM) because of lower market valuations and negative foreign exchange movement. Notably, the average AuM decreased 14% y-o-y to $8.4 trillion. We expect the same trend to continue in the first quarter. We estimate BlackRock’s valuation to…

Topline Twitter will allow users to trade stocks and cryptocurrencies as part of a new deal with social investing company eToro, CNBC reported Thursday, the latest step towards achieving owner Elon Musk’s expansive vision of transforming the platform into a multifaceted “everything app” in the vein of the Chinese behemoth WeChat. Key Facts Twitter will allow its users to view market charts and buy and sell stocks, cryptocurrencies and other assets from eToro via its mobile app, the social trading platform told CNBC. The partnership will significantly expand the kinds of real-time trading data available to Twitter users, who already…

By Howard Schneider WASHINGTON (Reuters) -Several Federal Reserve policymakers last month considered pausing interest rate increases after the failure of two regional banks and a forecast from Fed staff that banking sector stress would tip the economy into recession. But even they concluded high inflation remained so paramount they pressed on with a rate hike despite the risk. After an unexpectedly complex debate that reshaped some policy views in real time, the dramatic developments after the March 10 failure of Silicon Valley Bank ultimately did little to derail the Fed’s rate-hike campaign, with officials convinced they could battle inflation with…

By Harry Robertson and Ankur Banerjee LONDON/SINGAPORE (Reuters) – The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering hopes that the Federal Reserve’s rate-hiking campaign is either already finished or will be by May. Figures released on Wednesday showed that consumer price index (CPI) inflation came it at 5% year-on-year in March, down from 6% in February. Yet core inflation – which strips out volatile food and energy prices – picked up to 5.6%, from 5.5% the previous month. The dollar dropped after the data was released and weakened further…

By Jarrett Renshaw and Andrea Shalal WASHINGTON (Reuters) – When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for Saudi Arabia, the de facto head of the oil cartel, when it lowered output in October. The tepid response reflects, in part, the Biden administration’s view that the production cut may not have as much of an impact on the U.S. and global economy as last year’s cuts, which came as oil supplies were…

© Reuters Xpeng (XPEV) publishes 2022 ESG report By Michael Elkins Chinese electric vehicle maker, Xpeng Inc (NYSE:) published their 2022 Environmental, Social and Governance Report (the “ESG report”) on Wednesday. The report details progress the company made over 2022 for XPeng’s commitment, actions and achievements in environmental sustainability, social responsibility, and corporate governance. “At XPENG, we have established an effective environmental, social and governance management framework that is integral in our effort to deliver sustainable value for all stakeholders,” said Mr. Xiaopeng He, Chairman & CEO of XPeng. “Our 2022 ESG report demonstrates tangible progress toward heralding a green…