1,300 employees of Lucid Motors will be informed of their job losses by the end of this week. The manufacturer of the Air luxury car announced a production prediction for 2023 last month that was significantly below analyst expectations and revealed a significant decline in orders during the fourth quarter.Continue Reading
The latest week saw a 2.9% increase in mortgage applications, according to the Mortgage Bankers Association. According to the seasonally adjusted index from the Mortgage Bankers Association, the number of mortgage applications to buy a home fell by 6% last week compared to the week before. Volume is currently atContinue Reading
Among the 30 banks considered to be internationally systematically important was Credit Suisse, one of Switzerland’s top financial institutions since its progenitor Schweizerische Kreditanstalt was established in 1856. A full collapse could have completely destroyed the world’s financial system. Credit Suisse was divided into five divisions as of 2023: CapitalContinue Reading
OpenAI released plugins for ChatGPT that increase the capability of the bot by giving it access to external knowledge bases and databases, such as the internet. In a word, ChatGPT is an open-source, currently still-free artificially intelligent chatbot system that you may access by creating an account on the OpenAIContinue Reading
Sam Bankman-Fried, a co-founder of FTX, was charged with sending tens of millions of dollars in bribes to at least one member of the Chinese government, according to federal prosecutors in a fresh indictment released on Tuesday. The superseding indictment, which the Southern District Court of New York released onContinue Reading
Apple Pay Later, the company’s version of the buy now, pay later (BNPL) business, is now officially available. Users will be able to apply for Pay Later loans between $50 and $1,000 via the program, and they will be able to return those loans in four equal payments over theContinue Reading
The largest e-commerce company in the world, Alibaba, has declared plans to divide itself into six business groups, each of which will be able to raise outside capital and go public. On Tuesday in New York, Alibaba stock increased by more than 14%, and on Wednesday, it increased by moreContinue Reading
After recently acquiring Credit Suisse, UBS on Wednesday named Sergio Ermotti as its new Group CEO. Providing financial services is the primary activity of holding firm Credit Suisse Group AG. The following divisions make up its business: Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment BankingContinue Reading
Alphabet was sued back in January 2023 with concerns of monopolizing the digital marketing space. With regard to suspected illegal monopolization of the digital advertising market, the U.S. Justice Department and eight states filed a lawsuit against Alphabet’s Google, demanding the division of the search engine’s ad-technology company. Under theContinue Reading