In a shocking revelation, Banque Pictet, the private banking division of the well-established Pictet Group, has admitted to colluding with U.S. taxpayers to hide a staggering $5.6 billion from the Internal Revenue Service (IRS). This revelation has sent shockwaves through the financial industry, raising questions about the trustworthiness of major banks and emphasizing the urgent
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The revelation that the COP28 president, Sultan Al-Jaber, dismissed the science behind calls for a phase-out of fossil fuels has caused an uproar among climate scientists and activists. In response, U.S. climate envoy John Kerry emphasized the importance of prioritizing the fight against global warming and keeping the temperature rise to 1.5 degrees Celsius. This
New Gap CEO Richard Dickson recently shared his thoughts on the struggling company, shedding light on his experience since joining from toy business Mattel. Acknowledging the lack of clarity in Gap’s message, Dickson emphasized the need for an edit and a renewed focus on the company’s great products. Speaking at the Voices conference in Oxfordshire,
Microsoft’s commitment to OpenAI has reached a new level of dedication as the tech giant secures a non-voting board seat at the company. This comes as a significant development after a period of uncertainty within the startup, triggered by the controversial firing and subsequent re-hiring of CEO Sam Altman. With Microsoft investing a staggering $13
Meta, formerly known as Facebook, recently unveiled its updated policies on political ads. The company, led by Nick Clegg, President of Global Affairs, aims to address the growing concern of misleading content by requiring advertisers to disclose when artificial intelligence (AI) is employed to manipulate images and videos. While Meta claims these policies are consistent
Amazon announced on Tuesday that it had achieved “record-breaking” sales in the days leading up to Cyber Monday. As consumers continue to feel the pinch of inflation, they have turned to online platforms in search of discounts. This year’s holiday shopping event, which ran from November 17th to Cyber Monday, marked Amazon’s “biggest ever” compared
Shares of iRobot plunged by as much as 19% on Monday following a warning issued by the European Union’s antitrust watchdog regarding Amazon’s proposed $1.7 billion acquisition of the Roomba maker. The European Commission, which initiated an in-depth probe into the purchase in July, expressed concerns that the deal may restrict competition in the market
In the face of persistently high interest rates and stubborn inflation, many investors have turned to fixed income products as a safe haven for their money. However, as October’s cooler-than-expected CPI print hinted at a possible end to the Federal Reserve’s interest rate hiking campaign, two experts suggest that it is time for investors to
Las Vegas is renowned for its glitz and glamor, and when Formula One arrived in the city, it brought a level of excitement that rivaled even Monaco. However, what many people may not realize is that the presence of Formula One inadvertently empowered tens of thousands of hospitality workers, leading to improved wages and benefits.
In the aftermath of Sam Altman’s tumultuous departure from, and subsequent return to, OpenAI, the tech industry has been abuzz with debates over who emerged as the winners and losers in the executive saga. While some experts believe that Microsoft and its CEO Satya Nadella emerged victorious, the OpenAI board members who initially fired Altman