Author: Press Room

ChatGPT and AI have exploded in popularity. (Photo by Lionel Bonaventure)AFP via Getty Images ChatGPT and generative AI have exploded in popularity. You can use ChatGPT to recommend movies, offer travel plans, and even write songs in the style of Dolly Parton or Taylor Swift. But should you use ChatGPT to help with your investing decisions? ChatGPT has an extensive knowledge of niche finance topics and can explain them with surprising accuracy — most of the time. So why not use it to help make decisions when you construct your personal portfolio? Investors who are considering using ChatGPT should be…

529 College Savings Plan Formgetty Thanks to a new provision in the Secure Act 2.0, which was passed by Congress at the end of 2022, money held in 529 college savings accounts will become more flexible overall beginning in 2024. Specifically, up to $35,000 in funds kept in 529 accounts will be eligible for conversion into a Roth IRA account owned by the beneficiary, although several limitations apply. Many have praised this change as a good reason to start saving for college in a 529 plan in the first place, with some experts saying it also makes sense to overfund…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Italy has thrown a spanner in the works of French jet engine maker Safran’s planned $1.8bn acquisition of the flight controls business of Collins Aerospace over concerns the deal could affect key supply contracts for the Eurofighter programme.Safran said in a statement on Monday it had been informed that the Italian government had exercised its “golden power” to oppose its acquisition of Microtecnica, Collins Aerospace’s Italian subsidiary. Collins is a subsidiary of US-based Raytheon Technologies, now known as RTX.According to the decree…

Amid recent data showing a decrease in inflation to a two-year low of 4.6%, Bank of England Governor Andrew Bailey has issued a cautionary note on the state of the economy. In his latest remarks today, Bailey warned against any premature celebration over the reduction in inflation, emphasizing that the current rate still exceeds the Bank’s target of 2%. Despite the positive trend aligning with Prime Minister Rishi Sunak’s commitment to halve the initial near-11% inflation rate, Bailey insists that high interest rates are crucial to maintain in order to keep inflation in check. The possibility of further rate increases…

© Reuters. The Australian stock market closed higher today, with the gaining 0.28% to end at 7078 points, propelled by a strong performance in the Materials sector. The sector’s rise was notably influenced by a substantial investment announcement from Fortescue Metals Group (OTC:) Ltd (ASX:FMG), which is channeling $US750 million into hydrogen projects, marking a significant shift towards renewable energy initiatives. The Australian dollar saw an appreciation, climbing to 65.77 US cents. This uptick was attributed to expectations of upcoming US interest rate cuts, which contrasted with China’s economic outlook and recent minutes from the Reserve Bank of Australia that…

gorodenkoff/iStock via Getty Images India will provide subsidies to 27 tech companies, including Dell (NYSE:DELL), HP (NYSE:HPQ), Lenovo (OTCPK:LNVGY), Foxconn (OTCPK:FXCOF), Asus (OTCPK:ASUUY) and Acer (OTC:ACEYY), under a production-linked incentive scheme for IT hardware aimed at boosting domestic manufacturing. These 27 companies are expected to invest ~$359.9M, according to a government statement, with the value of IT hardware production estimated at $42B. India’s minister for electronics and IT Ashwini Vaishnaw said 23 companies are ready to start manufacturing from day-zero. The move is part of Prime Minister Narendra Modi’s push to make India a global hi-tech manufacturing hub. The PLI…

© Reuters. SINGAPORE – The International Monetary Fund (IMF) has thrown its weight behind Central Bank Digital Currencies (CBDCs), with Managing Director Kristalina Georgieva highlighting their potential to enhance financial inclusion and fintech development. Speaking at a Singapore event, Georgieva underscored that while current adoption levels are low, more than half of the countries worldwide are exploring the feasibility of CBDCs. Georgieva pointed out that CBDCs could address the costly distribution challenges of cash, especially in island nations, and improve financial resilience in mature economies. They also promise to expand access in regions where traditional banking services are limited. The…

New Hampshire should be spending at least 80% more per pupil on public schools, a judge said Monday in one of two rulings that could force significant changes to education funding.Lawmakers have been grappling with the issue for decades after the state Supreme Court ruled in the 1990s that the state is required to provide and pay for an adequate education. In response, the Legislature began sending each school district a set amount of aid per pupil — currently $4,100. Actual costs are much higher, however, and local property taxpayers make up the difference, with wide disparities due to differences…

Salesforce CEO Marc Benioff is trying to get ahead of the race to poach OpenAI’s talent.But his pitch is drawing more interest from internet trolls than OpenAI employees.One OpenAI employee wrote in response, “the company that builds tableau isn’t going to build AGI.” 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 After the weekend of chaos at OpenAI, Salesforce CEO Marc Benioff is eyeing an opportunity for new talent.In a post on X published Monday, the software company CEO offered immediate employment and matching…

Woman in nursing home with an aide. getty The U.S. is desperately short of nurses, personal care aides, and other direct care workers who help frail older adults and younger people with disabilities manage their days. Instead of dealing with the problem, policymakers have, predictably, devolved into their usual partisan blame-mongering. Watch, if you can, this recent hearing of the House Energy and Commerce Committee on the worker shortage. Minimum staffing requirements recently proposed by the federal government never will succeed without a sufficient pool of willing workers. Fundamentally fixing the problem will require more money—lots more—along with immigration reform,…