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Alibaba Cloud, the cloud computing unit of Chinese tech giant Alibaba, announced Tuesday it will be rolling out its own ChatGPT-style product Tongyi Qianwen.Tongyi Qianwen, which possess Chinese and English language capabilities, will initially be deployed on DingTalk, Alibaba’s workplace communication software, and Tmall Genie, a provider of smart home appliances, the company said in a release.Hong Kong-listed shares of Alibaba gained further after the announcement and traded 3.12% higher. Shares of rival Baidu were down more than 4%.Stock Chart IconStock chart iconAlibaba set to release its rival to ChatGPTAt the 2023 Alibaba Cloud Summit, the company said it will…
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. It’s been one month since Silicon Valley Bank collapsed, triggering alarms throughout the halls of global finance. The initial panic has settled into a more tolerable state of tension. We can all take a deep breath, knowing our money is safe and that banks have the tools they need, courtesy of the federal government, to weather the storm. “We’re going from flashing red lights to flashing yellow lights,” Wells Fargo’s senior bank analyst Mike Mayo told…
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Swiss prosecutors have launched a probe into the UBS takeover of rival Credit Suisse. Switzerland’s Federal Prosecutor is looking into possible breaches of criminal law. The takeover has proved highly unpopular in Switzerland, with a majority wanting UBS split up. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Swiss prosecutors have launched a probe into the takeover of Credit Suisse by its arch rival UBS as scrutiny of the highly controversial acquisition intensified, according to a report.Switzerland’s Federal Prosecutor told the Financial Times it…
Twitter’s revenue per employee crashed in the years before Elon Musk’s takeover. This measure of efficiency is back in vogue in tech, according to executives and investors. The figure might explain Musk’s decision to cut thousands of jobs. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The revenue generated by each employee at Twitter collapsed in the years running up to Elon Musk’s $44 billion buyout, shedding light on why the billionaire planned to axe half of staff after taking over.Twitter’s revenue per employee…
Global Medical REIT Inc. (NYSE:GMRE) is a United States medical office building-focused healthcare real estate investment trust that offers a compelling value proposition to passive income investors seeking both income and growth. Global Medical REIT, in my opinion, provides a growing dividend, portfolio expansion, and the strong possibility of robust funds from operations growth as the trust continues to expand its medical office building footprint through acquisitions. Global Medical REIT is also undervalued in my opinion, as its stock trades at a low FFO multiple. As a result, an investment in Global Medical REIT provides yield, income, a margin of…
Stocks recovered from an early dip as US equity markets reopened from the long Easter weekend on Monday, with investors weighing up the potential for more interest rate rises from the Federal Reserve.The S&P 500 closed 0.1 per cent higher after a late pick-up, while the tech-heavy Nasdaq Composite ended the day flat despite dropping as much as 1.4 per cent in early trading. Monday marked the first opportunity traders had to respond to data released on Friday showing the continued strength of the US labour market.The US economy added 236,000 new positions last month, fewer than in February but…
President Joe Biden signed legislation Monday to end the national emergency for Covid-19, the White House said, in a move that will not affect the end of the separate public health emergency scheduled for May 11. A White House official downplayed the impact of the bill, saying the termination of the emergency “does not impact our ability to wind down authorities in an orderly way.” The bill to end the national emergency cleared the Senate last month in a bipartisan 68-23 vote and passed the House earlier this year with 11 Democrats crossing party lines to vote for the joint…
Used car dealer CarMax is stuck between a rock and a hard place, just like so many other automotive-related companies in 2023, struggling to deal with rising interest rates and declining vehicle affordability. Investors will get a chance to see how the year is developing when the company reports fiscal year 2023 fourth-quarter earnings on Tuesday, before the market opens for trading. Wall Street is looking for 20 cents in per-share earnings from $6.1 billion in sales. A year ago, CarMax (ticker: KMX) reported 98 cents in per-share earnings from $7.7 billion in sales. Things are down year over year.…
