Category: Business
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US startup funding drops 30% in 2023 despite AI frenzy
By Krystal Hu (Reuters) – U.S. investors injected $170.6 billion into startups in 2023, a decrease of nearly 30% from the $242.2 billion recorded in 2022, as the venture capital funding market continues to grapple with valuation resets amid rising interest rates, according to PitchBook data released on Thursday. The latest data, from a year…
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Amazon has not offered remedies to EU concerns over iRobot deal
By Foo Yun Chee BRUSSELS (Reuters) -Amazon has not offered remedies to address concerns of EU antitrust regulators over its $1.4 billion acquisition of robot vacuum maker iRobot, according to an update on the European Commission website. The U.S. e-commerce giant had until Wednesday to do so. The European Commission’s competition officials in November sent…
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Walmart temporarily shuts a dozen stores following winter storm in the East Coast
(Reuters) -Walmart on Wednesday said it had temporarily closed about a dozen stores due to scattered power outages on the East Coast following a massive winter storm that has put more than 90 million people under high wind and flooding advisories. A company spokesperson said the store closure number fluctuates and the winter storm has…
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OpenAI launches GPT Store to capitalize on ChatGPT’s consumer success
By Anna Tong SAN FRANCISCO (Reuters) – Artificial intelligence lab OpenAI has launched its GPT Store, a marketplace for personalized artificial intelligence (AI) applications, the company said in a blog post on Wednesday. The GPT Store is located within the popular ChatGPT chatbot, and is a place for users to discover and build GPTs, or…
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BlackRock announces cuts of roughly 600 jobs
By David Randall and Jaiveer Shekhawat NEW YORK (Reuters) – BlackRock, the world’s largest asset manager, on Tuesday said it will cut about 3% of its current workforce, though it expects to have a larger headcount by the end of 2024. The job cuts would amount to roughly 600 positions based on BlackRock’s workforce of…
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Rite Aid gets court approval for $575 million Elixir sale
By Dietrich Knauth NEW YORK (Reuters) – Pharmacy chain Rite Aid Corp on Tuesday received bankruptcy court approval to sell its Elixir pharmacy benefit manager business for $575 million. Rite Aid filed for bankruptcy in October with an agreement to sell the Elixir business to pharmacy benefit manager (PBM) MedImpact Healthcare Systems for that price.…
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United, Alaska find loose parts on 737 MAX planes, raising pressure on Boeing
By Valerie Insinna, David Shepardson and Rajesh Kumar Singh WASHINGTON/CHICAGO (Reuters) -Boeing’s latest 737 MAX crisis deepened after United Airlines and Alaska Airlines said they had found loose parts on multiple grounded MAX 9 aircraft, raising new concerns among industry experts about how its best-selling jet family is manufactured. U.S. regulators grounded 171 MAX 9…
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AI to dominate this year’s CES, even without OpenAI’s Altman on hand
By Max A. Cherney and Abhirup Roy SAN FRANCISCO (Reuters) – (This Jan. 4 story has been corrected to say that Bosch is scheduled to speak at CES on AI and cybersecurity, not that Bosch is expected to showcase a gun-detection system, in paragraph 9 and fixes executive’s name to Aakash Arora in paragraph 11)…
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VW vehicles to converse with drivers via ChatGPT by mid-year
By Abhirup Roy and Victoria Waldersee LAS VEGAS (Reuters) -Volkswagen’s voice assistant integrating ChatGPT into its cars will be able to converse with users in a back-and-forth dialogue by the middle of the year, the carmaker said on Monday as it presented the technology in Las Vegas. Volkswagen presented its first vehicles featuring ChatGPT, to…
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Oil falls over 3% as Saudi price cuts add to demand doubts
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell over 3% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output that offset supply concerns generated by escalating geopolitical tension in the Middle East. Brent crude settled down $2.64, or 3.4%, at $76.12 a barrel, while U.S. West…