Author: Press Room

Tippapatt/iStock via Getty Images Baidu (NASDAQ:BIDU) has launched a paid version of its generative artificial intelligence chat product Ernie Bot, Reuters reported. The Chinese tech giant is charging 59.9 yuan ($8.18) per month for the ChatGPT-like product, the report added. In October, the company launched Ernie 4.0, a potential rival to Microsoft (MSFT)-backed OpenAI’s GPT-4 model. Baidu (BIDU) was among the first list of Chinese companies — which included startups Zhipu and Baichuan — to win approval from China’s internet watchdog at the end of August for AI services to be released for public. Generative AI services have become the…

© Reuters. The Reserve Bank of India (RBI) is facing challenges in managing the volatility of the rupee due to a continuous decline in forex reserves, which fell by $2.36 billion to $583.53 billion for the week ending October 20th. This decrease occurred despite a $1.15 billion increase in the preceding week, and follows a five-month low during the week ended October 6th. On Wednesday, the rupee was trading at 83.27 against the US dollar in the pre-noon session, down from 83.25 in the previous session. The RBI has been intervening in the forex market to prevent the rupee from…

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Auto insurance costs are surging. There’s ways that you can save.getty Auto insurance rates have been rising recently, substantially outpacing inflation overall. US Department of Labor data shows the widely-adopted measure of inflation, the Consumer Price Index for All Urban Consumers, is 3.7% higher than it was a year ago. Meanwhile, the price index for motor vehicle insurance is 18.9% higher over this same period. Key contributors to auto insurance price increases are the higher costs of motor vehicle repairs and maintenance, as well as more frequent accidents and increased litigation. While consumers cannot fully control their premiums because of…

It is tax shelter season again.getty Most folks think of tax season being that period shortly before April 15 and ending on that date. Actually, that is tax return season. The true tax season usually begins on October 15 of each year after the late individual returns are filed. This is when folks who are looking to have a financially good year start thinking about reducing the taxes they will have to pay in April. Tax professionals will start meeting with clients to talk about their businesses and how things are looking for the end of the year. Most of…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The world’s largest offshore wind developer Ørsted has abandoned two key US projects and announced a higher than expected writedown of its portfolio, sending shares in the group down more than 20 per cent.The Danish group booked impairments of DKr28.4bn ($4bn), saying it had “no choice” but to stop developing its Ocean Wind 1 and 2 projects off the coast of New Jersey. The decision, which the company blamed on supply chain delays, higher interest rates and changes to its assumptions around…

© Reuters. Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) – The Bank of Japan may prefer to go slow in ending ultra-low interest rates, but the weak yen and risks of an inflation overshoot could prod it to act before year-end, former central bank official Hiromi Yamaoka told Reuters on Wednesday. Under pressure to phase out years of massive monetary stimulus amid rising inflation, the BOJ on Tuesday loosened its grip on long-term interest rates by tweaking its…

© Reuters. UK pharmaceutical giant GSK Plc has revised its financial guidance upwards for the second time this year, driven by the successful launch of Arexvy, a vaccine designed to prevent a common respiratory virus in older adults. The vaccine, which was launched in the US and other regions in August, has seen high demand, contributing to robust third-quarter sales of £700 million ($850 million). Following the impressive performance of Arexvy, GSK now anticipates up to 13% sales growth and an adjusted earnings per share increase of 17%-20%. This positive forecast comes after a strategic decision by GSK to separate…

Rise Gold announces $750,000 financing

© Reuters. Investing.com – The U.S. dollar edged higher in early European trade Wednesday ahead of the conclusion of the latest Federal Reserve meeting, while the yen remained near its one-year low.  At 04:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 106.612. Fed decision, Powell’s press conference in focus The U.S. dollar has continued to trade on the firm side as traders prepare for the conclusion of the latest policy-setting meeting later in the day.  While the central bank is expected to hold rates unchanged, it…