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Latest Financial and Business News

  • Business
    Reuters

    UPDATE 1-AI experts disown Musk-backed campaign citing their research

    Four artificial intelligence experts have expressed concern after their work was cited in an open letter – co-signed by Elon Musk – demanding an urgent pause in research. The open letter says AI systems with "human-competitive intelligence" pose profound risks to humanity, citing 12 pieces of research from experts including university academics as well as current and former employees of OpenAI, Google and its subsidiary DeepMind. Civil society groups in the U.S. and EU have since pressed lawmakers to rein in OpenAI's research.

  • Business
    Reuters

    China's Huawei partners with more automakers to produce Aito EVs

    China's Huawei Technologies is partnering with more legacy automakers to produce Aito-branded electric cars, the company's senior executive said on Saturday, in a move to expand its presence in the auto industry. Huawei will team up with Chery Automobile, BAIC Motor and Anhui Jianghuai Automobile Group in jointly developing and manufacturing Aito-branded vehicles, Richard Yu, Huawei's Smart Car CEO, said at the China EV 100 forum in Beijing. Huawei, which has already a partnership with Seres Group to make Aito cars, plans a series of models including SUVs, sedans and multipurpose vehicles under the Aito brand, Yu added.

  • Business
    Bloomberg

    Veteran Money Managers Bail on Stock Rally With Fed Hawks Flying

    (Bloomberg) -- Optimism about imminent rate cuts is stirring animal spirits — and unease — in equal measure at the end of a turbulent quarter in markets. Most Read from BloombergParents Are Paying Consultants $750,000 to Get Kids Into Ivy League SchoolsTrump Faces Fingerprints, Mug Shot After Dramatic IndictmentGlobal Food Supply Risks Rise as Key Traders Leave RussiaSchwab Hit by Worst Month Since 1987 Amid Cash Sorting WoesChina Hits Micron With Review of Chips, Citing Security RisksProminent

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