According to a report from the Washington Post, whistleblowers at OpenAI have taken the bold step of filing a complaint with the U.S. Securities and Exchange Commission. The complaint calls for an investigation into the artificial intelligence company’s allegedly restrictive non-disclosure agreements. The whistleblowers claim that OpenAI issued overly restrictive employment, severance, and non-disclosure agreements
Economy
Argentina is implementing a new strategy to combat inflation and stabilize its currency, the peso. Economy Minister Luis Caputo announced on Saturday that the central bank will start selling U.S. dollars in the country’s parallel foreign exchange markets. This move is aimed at freezing the country’s money supply and contributing to the disinflation process. Balance
The latest surge in the stock market saw the S&P 500 and Dow Jones Industrial Average hitting intraday record highs. This bullish performance was largely driven by optimism surrounding a potential interest rate cut by the U.S. Federal Reserve in September. Despite some mixed results from big banks, market giants like Apple and Nvidia bounced
The dollar faced a sharp decline against the yen for the second consecutive day, prompting speculation of Japanese intervention in the currency market. The global equities index, on the other hand, saw a rise as investor attention shifted towards potential interest-rate cuts by the U.S. Federal Reserve. Despite the producer price index (PPI) report showing
In the week ending July 5th, foreign investors showed a significant interest in Japanese stocks. They made substantial investments, with a net purchase of 916.05 billion yen, marking the highest weekly net purchase since January 12th. This surge in investment was attributed to the market rally and optimism regarding solid corporate earnings in the second
The recently elected Indonesian President, Prabowo Subianto, has announced a bold economic strategy that involves allowing the nation’s debt-to-GDP ratio to rise to 50%. This decision is contingent upon the administration’s ability to significantly increase tax revenues. According to Prabowo’s brother and adviser, Hashim Djojohadikusumo, Indonesia could maintain its investment-grade rating even with a higher
The dollar weakened on Wednesday as Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts in the near future. Powell expressed a desire to see further declines in inflation before making any decisions. This comes ahead of the release of the consumer price index (CPI) data which is expected to show easing prices
In a recent speech to the Asia House think tank in London, Bank of England Chief Economist Huw Pill expressed caution regarding the possibility of an interest rate cut in August. Pill highlighted the strong price pressures in Britain’s economy, stating that services inflation and wage growth displayed “uncomfortable strength.” Despite headline inflation meeting the
Turkey’s Statistical Institute (TUIK) has been under scrutiny due to credibility concerns surrounding its inflation data. The institute faced criticism earlier this year when it admitted to not having historical data on product prices beyond May 2022 and stopped sharing it. This lack of transparency raised suspicions among economists and analysts. In an attempt to
The U.S. dollar is currently trading near a multi-week low against major peers as a result of Friday’s unexpectedly soft jobs report. Traders are anxiously awaiting Federal Reserve Chair Jerome Powell’s testimony to gain insight into the future path of interest rates. This uncertainty has led to the dollar index remaining flat at 104.99 in
The recent rally in chip stocks has had a significant impact on the overall market performance, leading to record highs for both the Nasdaq and S&P 500. As investors eagerly awaited fresh inflation data, commentary from Federal Reserve Chair Jerome Powell, and the start of quarterly earnings season, chip stocks like Nvidia, Super Micro Computer,
France’s left-wing New Popular Front (NFP), a coalition of the Communist Party, the hard left France Unbowed, the Greens, and the Socialist Party, has emerged as the leading bloc in the next parliament. However, despite this achievement, they do not hold a working majority. This has raised questions about who will be chosen as the