Author: Press Room

Google’s much-lauded demo of Gemini showed the AI responding in real-time to events on screen.However, the company confirmed it edited out the human intervention that made Gemini work.”We made it to inspire developers,” said Google DeepMind’s head of research. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app An “incredible” demonstration of Gemini released by Google was edited to remove the human intervention that made the AI look slick and intuitive.In the video, Gemini appeared to be responding in real-time to what it could see…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Pension Protection Fund’s Purple Book — the UK’s almanack of private sector defined benefit pensions — dropped on Wednesday. While it is always worth a read in full, we’ve pulled out some key parts.The big headline is that DB pensions are pretty much done. Yes, done in the sense that they are almost all closed to new entrants — that’s not really news. What’s more remarkable is that they are pretty much done in the sense of job done, mission complete.…

© Reuters. FILE PHOTO: A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo By William Schomberg LONDON (Reuters) – The Bank of England looks set to stick to its tough line against talk of interest rate cuts in Britain, even as other leading central banks signal that they might be approaching a turning point in their fight against inflation. The BoE is forecast to keep borrowing costs at a 15-year high on Dec. 14, according to economists in a Reuters poll. It is also expected to restate that rates…

© Reuters. FILE PHOTO: The camera that belonged to Reuters journalist Issam Abdallah who was killed on October 13 by what a Reuters investigation has found was an Israeli tank crew, is displayed during a press conference by Amnesty International and Human Rights Wat JERUSALEM (Reuters) -The Israeli military, responding on Friday to a Reuters investigation that determined its forces killed a Reuters journalist in southern Lebanon on Oct. 13, said the incident took place in an active combat zone and was under review. Without directly addressing the death of Issam Abdallah, a military statement said that at the time…

The Japanese economy shrank 0.7% Q/Q in Q3 of 2023, compared with a flash figure of a 0.5% contraction and after a downwardly revised 0.9% growth in Q2. The economy contracted 2.9% on an annualized basis during the third quarter of 2023, compared with preliminary data of a 2.1% fall and after a downwardly revised 3.6% growth in Q2. Japan’s current account surplus stood at JPY 2,582.8 billion in October 2023, remaining positive for the ninth consecutive month and exceeding forecasts of JPY 1,901.2 billion. ETFs: (JEQ), (EWJ), (DXJ), (FXY). Currency: (USD:JPY)

© Reuters. MUMBAI – The Indian rupee experienced slight fluctuations this week as traders anticipated the Reserve Bank of India’s monetary policy announcement. On Friday, the currency appreciated by two paise to trade at 83.34 against the US dollar, buoyed by positive equity trends. Finrex Treasury Advisors noted that the rupee is expected to fluctuate narrowly due to balanced inflows and outflows. In contrast, Thursday saw the rupee settle at 83.36 versus the dollar following significant share sales by Foreign Institutional Investors (FIIs), amounting to ₹1,564.03 crore (INR100 crore = approx. USD12 million). The Monetary Policy Committee (MPC), led by…

California is facing a major budget crisis due to a “severe revenue decline,” and a record $68 billion budget deficit, likely forcing Democrats running the state to cut spending as the mass exodus of people and businesses moving to Republican-run states continues.According to California’s non-partisan Legislative Analyst’s Office (LAO) report released Thursday, the state’s budget deficit has grown exponentially in just a few months’ time, up more than $54 billion from just $14.3 billion in June.The deficit isn’t the largest to ever face the state as a percentage of overall spending, but it is the largest in terms of real…

Just over $27 billion in venture funding was raised by startups that failed this year, per NY Times.That figure is close to the amount raised by startups in the third quarter of 2023, according to EY.The cash burn figure excludes public companies and acquisitions. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Startups are having a pretty grim year.Just over $27 billion in venture funding was raised by the 3,200 startups that failed in 2023, The New York Times reported, citing figures from startup…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Companies in long-term run-off sectors such as oil or tobacco face a stark strategic choice. They either extract as much value as possible from legacy assets and liquidate their stock, or they seek to build new sustainable businesses. Trying to do both carries execution risk. British American Tobacco risks falling between the two stools. Its traditional business — which accounts for more than 85 per cent of sales and all of the profits — is struggling. BAT prefers to refer to it…

© Reuters. FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo A look at the day ahead in European and global markets from Tom Westbrook Nine of the G10 central banks are expected to cut interest rates next year. Not Japan. Bank of Japan Governor Kazuo Ueda’s open discussion of a difficult policy year ahead and of possible paths out of negative interest rates has jolted short sellers out of the yen, afraid that the long-awaited yen rally may have begun. The yen is up four…