Author: News Room

Generative Artificial Intelligence (AI) — epitomized by ChatGPT — is the high tech story of 2023. I’m curious whether Microsoft’s $13 billion investment in ChatGPT’s parent, OpenAI, would add meaningful value to the tech giant’s revenue. This week I learned analysts estimate OpenAI will add between $30 billion and $40 billion to Microsoft’s top line. But is that amount significant enough to propel Microsoft‘s stock — which is up 19% this year (more than the S&P 500’s 6.6%)? I see two reasons why ChatGPT could add significantly to Microsoft’s revenues: The generative AI market is growing at a 31% average…

By Devjyot Ghoshal and Napat Wesshasartar BANGKOK (Reuters) – Thailand’s decriminalisation of cannabis has delighted its fans, alarmed some health experts and has increasingly disappointed farmers who have been undercut by illegal imports, sending a promise of a new bonanza crop up in smoke. Marijuana has also become an election football with the opposition criticising the ruling pro-military coalition in the run-up to May 14 polls for rushing through decriminalisation last year to what they say is the detriment of society, youngsters in particular. Thousands of cannabis shops and businesses have sprung up, especially in Bangkok and tourist spots, since…

By Leika Kihara TOKYO (Reuters) – The Bank of Japan must be ready to issue central bank digital currencies (CBDC) that coexist with various other forms of money to offer the public a safe digital payment system, its governor Haruhiko Kuroda said on Tuesday. The central bank will start a pilot programme in April to test the use of a digital yen, joining a growing number of countries seeking to catch up with front-runner China in launching a CBDC. “Ensuring the coexistence of CBDC with various other forms of money … is something that we need to and will in…

By Barani Krishnan Investing.com — OPEC+ appears to have hit bull’s-eye with its to recapture $80 and above for a barrel. The oil cartel, however, isn’t the only one capable of delivering a surprise: U.S. factories are too, with a weaker-than-expected manufacturing report for March. As crude prices posted their the largest one day gain in a year on Monday, the so-called ISM manufacturing report countered OPEC+’s surprise production cut that triggered inflation jitters. The preliminary reading for last month came in at 46.3 versus a forecast 47.5 and the February reading of 47.7. “This is the fifth month in…

© Reuters. Deutsche Bank initiates coverage on Toast with Hold & Marqeta with Buy rating By Davit Kirakosyan Deutsche Bank initiated coverage on Toast Inc (NYSE:) with a Hold rating and a price target of $20.00, noting the company is well-positioned to increase its market share in the restaurant vertical with its specialized software, payment offerings, and financial services product like Toast Capital. The firm expects Toast to achieve a steady ~25% growth rate, with potential for higher growth from increased penetration, expansion into new sub-verticals, international markets, and strategic acquisitions. Although the company is currently unprofitable, the firm appreciates…

Treasury yields advanced on Monday, led by the 3-month T-bill rate, as traders priced in a better-than-not chance of the fed-funds rate going a bit above 5% next month and staying there until at least June.What happened The 3-month yield TMUBMUSD03M, 4.980% rose 13 basis points to 4.985%, according to FactSet data. The yield on the 2-year Treasury note TMUBMUSD02Y, 4.011% rose 3.4 basis points to 4.004% from 3.970% on Friday. The yield on the 10-year Treasury note TMUBMUSD10Y, 3.421% advanced 3.2 basis points to 3.414% from 3.382% on Friday. The 2- and 10-year rates were each up for the…

I’ve inherited a house in San Francisco from my aunt.My aunt had rented her basement to an older couple (probably illegally) for a few years for below market rates. I don’t believe there was a lease, and it is probably against the building code to have tenants in the basement. The couple’s family is living nearby.    I really prefer not to continue with the leasehold because I live out-of-state, and because of the tough rental laws in San Francisco.  What should I do if I don’t want to be a landlord? Can I just give them notice to terminate the…

Gold prices ended lower on Thursday for a second day in a row, but posted a sixth straight weekly gain for the holiday-shortened week and remained within striking distance of the yellow metal’s all-time closing high for a most-active futures contract.Price action The June gold contract   GC00, -0.94% GCM23, -0.94% declined by $9.20, or nearly 0.5%, to settle at $2,026.40 per ounce on Comex, with prices for the most-active contract up 2% for the holiday shortened week, according Dow Jones Market Data. Prices settled at $2,038.20 on Tuesday, the highest finish since March 2022. Silver futures for May delivery SI00,…

Bitcoin and other cryptocurrencies edged higher Monday, remaining at some of the highest levels for digital assets since last summer, as traders eye inflation data in the coming days as possible catalysts for the next leg upward. The price of Bitcoin has risen 1.5% over the past 24 hours to $28,325. The largest digital asset has been hovering around $28,000 for weeks now, spiking as high as near $29,500 amid bouts of enthusiasm—representing the highest point since the crypto crash accelerated into a brutal bear market last June. Up some 70% so far this year, Bitcoin’s rally has spurred calls…

The Justice Department and a manufacturer of medication abortion drugs asked a federal appeals court on Monday to put on hold a judge’s ruling that could make the drug unavailable nationwide starting Friday at midnight. The requests, filed on Monday before the US 5th Circuit Court of Appeals, are seeking a short-term administrative stay as well as a long-term stay pending appeal on a lower court ruling from US District Judge Matthew Kacsmaryk, who ordered the Food and Drug Administration’s approval of the drug to be suspended. An administrative stay would give the appellate court more breathing room to consider…