For some time now, Altman has highlighted the AI-chip supply gap in the face of overwhelming global demand. He claims that the lack of these semiconductors fetters OpenAI’s growth and a scheme should be launched to escalate global manufacturing and supply volumes. Altman took to X and posted: we believe the world needs more ai…
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Since 2017, production in Germany has traced a downward line, which is steadily gaining negative momentum. It seems that the country is losing its competitive edge as the US shifts its procurement focus and China rises in the manufacturing sector. Some experts believe that inexpensive natural gas from Russia may be the final nail in…
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Nagel emphasised the transformative nature of the recent performance, highlighting it as a manifestation of the group's new strategic direction. "Our progress has been substantial and highly efficient in generating and utilising capital," he remarked. This was underscored by the bank's core capital ratio, which stood at 15.3% of risk-weighted assets, surpassing analysts' forecasts from…
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This decision is a critical component of its newly unveiled Transition Finance Framework (TFF), introduced amid growing scrutiny from environmental advocates concerning its energy financing policies in light of rising emissions from fossil fuel combustion. Starting in 2025, the financial institution plans to limit its financing to companies that are not diversified, such as those…
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The Communist Party's central committee appointed Wu Qing as Yi's replacement, with Yi being seen by some as the fall guy for recent losses. Wu, nicknamed "Broker Butcher," is a senior official known for cracking down on brokerages. A veteran regulator with a reputation for tough actions, he previously served as the acting vice…
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Based on his LinkedIn profile, Yimwilai headed this company, which is the Thai division of the Singapore-headquartered outfit, from August 2018 to November 2023. The SEC also indicated that its investigation picked up inconsistencies in filed company reports. Zipmex received Ministry of Finance and SEC approval to operate in Thailand in 2020. On 2 February…
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Based on Yahoo Finance data, Tesla lost approximately $200bn in market value over the past six months, and this move may be one of the measures aiming to revive it. Even though the US Labour Department recorded a general upsurge in hiring new employees, tech job cuts are front and centre as companies increasingly onboard…
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The move was further supported in September when President Vladimir Putin issued a decree allowing for transactions involving these assets. In an interview with Bloomberg Television, CEO Carlo Messina revealed that Intesa has significantly reduced its exposure in Russia to a "minimal" level. Yet, the bank has struggled to wholly disentangle itself from its subsidiary…
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PBB, a part of the SDAX small-cap index that strongly emphasises real estate financing, made this reassurance in its second extraordinary disclosure in as many days as its equity and debt instruments experienced market pressure. The bank had previously characterised the current situation in the U.S. market as "the most significant real estate crisis since…
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The concerns included non-compliance with auditing and assurance standards, independence requirements, registration conditions, or being unfit to remain an SMSF auditor. ASIC took the disciplinary measures in the quarter ending 31 December 2023. Among the actions taken, ASIC disqualified five auditors and imposed additional conditions on two. Two auditors had their registrations cancelled. Notably, of…
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