Official version: Sam Altman, the Silicon Valley CEO behind the artificial intelligence-powered chatbots ChatGPT and GPT-4, has been abruptly fired by his company’s board of directors in a major shakeup for the tech industry. Microsoft-backed OpenAI said on Friday that…
Fidelity files for spot Ethereum ETF
Fidelity Investment has filed for a spot ether ETF, following its spot bitcoin ETF application. Asset management giant Fidelity Investment has filed for a spot ether ETF, in the footsteps of its spot bitcoin ETF application. “To this point, approval…
China wants all Israel’s nuclear sites to be placed under IAEA safeguards
China has denounced as “extremely irresponsible and disturbing” an Israeli minister’s statement that a nuclear bomb on the besieged Gaza Strip was an option, stressing that all Israel’s nuclear sites must be placed under the International Atomic Energy Agency (IAEA) safeguards. China’s deputy…
Cornell University Study: Exporting US Fracked Gas Is Far Worse for the Climate Than Coal
If all proposed export terminals are built, the climate-warming emissions would be equivalent to 532 coal plants. Fed by a glut of methane produced in the vast fracking fields of Texas and other states, the U.S. fossil fuel industry has…
The COO and CFO of wind turbine company Ørsted have resigned
The inertia of C-class management thinking is a well-known phenomenon. Two C-class managers of Danish multinational wind turbine company Ørsted, CFO Daniel Lerup and COO Richard Hunter, are stepping down from their positions. The officially communicated reason is the abandonment…
China Unveils Plan To Mass Produce Human-like Robots
China is setting out to mass produce human-like robots in two years, an ambitious plan that, according to a blueprint issued by the Ministry of Industry and Information Technology (MIIT), it hopes will make the regime in Beijing the leader…
Turkish Airlines in Talks With Airbus to Purchase 355 Planes
Order would be largest in the Turkish carrier’s history. Airline chairman talked in May of possible 600-plane order. Turkish Airlines is in talks with Airbus SE for what would be the biggest order in the carrier’s history if finalized. Management…
Germany To Bail Out Siemens’ Desperate Wind Turbine Division
As the top analyst here at the PressClub World predicted a few years ago, the Siemens wind turbine division is now a ‘hot potato’. Siemens Energy, facing significant losses, is in talks for up to 15 billion euros in guarantees,…
Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’
After a disastrous 30Y bond auction this week, a collapse in Treasury market liquidity, and an accelerating rise in the market’s perception of the United States’ credit risk, Moody’s has just cut its outlook on US credit ratings to negative from…
MBDA and PGZ sign $5 billion deal for Poland’s air defense
The U.K. arm of missile-maker MBDA and the Polish defense company PGZ have signed a contract to work on the next phase of Poland’s anti-air missile program, the two countries announced Wednesday. The deal, worth more than worth more than…
JinkoSolar’s new PV panel: Conversion Efficiency of 26.89%
JinkoSolar Holding Co., Ltd. (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that it has achieved a major technical breakthrough for its 182 mm high-efficiency N-type monocrystalline silicon solar cell. JinkoSolar…
WeWork’s collapse: A story of unchecked ambition and KCS corporate governance
January 2019 marked a high point for WeWork. Still a startup, the New York-based firm had secured funding of $10 billion from the Softbank Group and had attained an after-funding valuation of $47 billion. At the time, this made it…
Berkshire Hathaway: Investment Loss of $24.1 Billion, Cash $157 Billion
Warren Buffett’s Berkshire Hathaway reported its first quarterly loss in a year while operating earnings jumped by 40% and the firm’s cash reserves reached a record $157.2 billion. The quarterly loss has been heavily attributed to the company’s stake in…
Iran FM to UK FM: Palestinians entitled to fight Israeli occupation
As the UK, American and Czech governments are amazed why, after 75 years of Khazarian-Zionist occupation, the original Semitic population (Palestinians) decided to rise up against the Khazarian-Zionist regime’s reign of murders, terror, and ethic cleansing, the Iranian foreign minister…
FTC: Amazon made $1 billion through secret price raising algorithm
Amazon com used a series of illegal strategies to stay on top of online retailing including using an algorithm to push up prices to U.S. households by more than $1 billion, the Federal Trade Commission (FTC) said in a less-redacted…