Reed’s view OpenAI is chaotic, even by Silicon Valley startup standards, so the palace intrigue chronicled by The New Yorkers’ 10,000-word opus is table stakes. What really matters though, as we approach one of the world’s largest IPOs, is how OpenAI is performing. Slowing revenue growth, which The Information first ...
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UK Navy deploys anti-drone weapons amid global scrambleUK Navy deploys anti-drone weapons amid global scramble
Britain’s Royal Navy confirmed that it would deploy new anti-drone laser weapons on its ships from next year. The DragonFire system can target 400 mph drones and, while the weapon itself costs around $200 million, each shot is only $13, compared to hundreds of thousands of dollars for a high-tech ...
China’s graft drive ‘has not worked,’ analysts sayChina’s graft drive ‘has not worked,’ analysts say
Chinese leader Xi Jinping’s purging of a third Politburo member points to the failure of his long-running anti-corruption program, as well as that of the Communist Party’s promotions system, analysts said. Authorities said this week that Ma Xingrui was being probed for graft, confirming experts’ suspicion that he was in ...
Cuba launches new banknotes to help ease transactionsCuba launches new banknotes to help ease transactions
Cuba introduced two new banknotes in a bid to simplify transactions amid runaway inflation. Cubans have long been accustomed to shopping with wads of cash stuffed into bags after compounding bouts of soaring inflation. But a tightened US embargo — including restrictions on oil imports, which generate the vast majority ...
Democracy improves globally though gains are uneven, report saysDemocracy improves globally though gains are uneven, report says
Democracy is strengthening worldwide, according to a leading index, but the improvement is far from universal. Nearly 75% of countries held firm or saw measures of democracy improve, according to the research firm EIU. The most marked growth has been in Latin America and the Caribbean, while current trends bode ...
Hormuz closure turns truckers into logistics saviorsHormuz closure turns truckers into logistics saviors
The News UAE trucking company TruKKer was enabling the movement of more than 1,200 loads a day for petrochemical producers, steel manufacturers, and consumer goods companies when Iran closed the Strait of Hormuz at the start of the war. Since then, it has seen volumes surge by 30%, CEO Gaurav ...
OpenAI goes after Ari Emanuel’s WME in Musk legal dramaOpenAI goes after Ari Emanuel’s WME in Musk legal drama
The Scoop OpenAI is expanding its bitter legal dispute with Elon Musk to sweep in Hollywood mogul Ari Emanuel and his talent agency WME. OpenAI’s lawyers have instructed the firm to preserve communications about the ChatGPT-maker and explain the work it has done for Musk and his lawyers, according to ...
US targets pillars of Iran economyUS targets pillars of Iran economy
Donald Trump’s grave threat against Iran shows how the US and Israeli campaign has expanded to target the cornerstones of Tehran’s economy. Widespread attacks on Tuesday hit Iran’s railroads, bridges, and its energy hub, a sign the US and Israel aim to “impoverish Iran as a country and break the ...
Global hedge funds respond to war shocksGlobal hedge funds respond to war shocks
Global hedge funds, pressured by the conflict in Iran, are shaking up their trading strategies. Investment managers on the whole posted their worst monthly drawdowns in four years last month. They’re now shorting European equities at record levels, betting that the continent will be hit hard by the war’s economic ...
More airlines cut flights, raise costsMore airlines cut flights, raise costs
More airlines are cutting flights and raising costs as jet fuel prices surge because of the Iran war. Air India and Air New Zealand announced reduced schedules, while Delta on Tuesday became the latest US carrier to hike fees for checked bags. Some Asian airlines, which have been worst hit, ...