According to Coinbase, 1M tech jobs in the US are at risk, Microsoft places ads in ChatGPT-powered Bing search, Netflix prepares for the big transition to TV gaming: today’s top stories

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Coinbase warns that unclear crypto regulations threaten 1 million US tech jobs

  • Exchange of cryptocurrencies Coinbase Inc (NASDAQ: COIN) says a million tech jobs are at risk of being outsourced to other countries.

  • Coinbase said that “the US is embarking on a path of regulatory uncertainty,” the EU, UK, UAE, Hong Kong, Singapore, Australia and Japan are all creating “environments for crypto to thrive.”

  • Coinbase said that a recent report from a venture capital firm electrical capital shows that the US faced a significant risk of losing one million Web3 developer jobs and millions of related non-technical jobs over the next seven years if it continues with its current approach of regulation through enforcement.

ChatGPT, show me the money! Microsoft places ads in ChatGPT powered Bing search

  • microsoft corp (NASDAQ:MSFT) aims to tap the popularity of its GPT-4 by OpenAI powered Bing search engine by launching ads that help advertisers reach people in a quality and targeted environment.

  • Microsoft said there are now more than 100 million daily users of Bing. New scenarios like chat increase engagement, including more than 100 million chats.

  • Of the millions of users in Preview, a third are new to Bing, creating a new opportunity for publishers.

Credit Suisse Helped Rich Americans Hide Over $700 Million Despite 2014 DoJ Plea: Wyden Inquiry

  • The Senate Finance Committee The results of a two-year investigation, released Wednesday, uncovered serious breaches of a 2014 agreement Credit Suisse Group AG (NYSE: CS) with the Ministry of Justice for enabling tax evasion by thousands of wealthy US individuals.

  • The committee’s investigation revealed a “previously unknown, ongoing, and potentially criminal conspiracy in which nearly $100 million in secret offshore accounts belonging to a single American taxpayer family remained undisclosed.”

Viatris is among three companies licensed to manufacture a GSK/Pfizer-backed long-acting HIV prevention drug

  • ViiV Healthcare and Medicines Patent Pool (MPP) have co-signed sublicense agreements Aurobindo Pharma, Cipla LimitedAnd Viatris Inc (NASDAQ: VTRS) – through its subsidiary Mylan – to manufacture long-acting (LA) generic versions of cabotegravir for HIV pre-exposure prophylaxis (PrEP).

  • Aurobindo Pharma and Viatris will produce in India.

  • Cipla Limited will manufacture in India and plans to manufacture in South Africa.

Ford Wins Contract to Build $4.5 Billion EV Battery Material in Indonesia

  • Ford Motor Co (NYSE: F) announced an agreement with an Indonesian mining company PT Vale Indonesia Tbk and Chinese mineral supplier Zhejiang Huayou Cobalt Co.

  • According to the new agreement Valley Indonesia, Huayou cobaltand Ford will make capital investments in the Pomalaa Block High-Pressure Acid Leaching (HPAL) project in southwest Sulawesi, Indonesia.

  • The project could produce up to 120 kilotons of contained nickel per year.

Toyota February sales up 10.3% yoy, recovering from supply chain challenges

  • Toyota Motor Corp (NYSE: TM) reported higher global sales and production for February 2023 compared to the same period last year, driven by slowing semiconductor supply.

  • The Japanese automobile manufacturer recorded a worldwide increase in sales of 10.3% to 773,271 vehicles. Sales in Japan increased by 53.2% to 155,840 vehicles, including mini vehicles.

  • Global production rose 2% to 755,839, driven by an increase in production in Japan, which offset the fall in production outside the country. Domestic production increased by 11.2% to 281,521 vehicles.

Electronic Arts lays off 6% of employees to cut costs and reduce real estate presence

  • Electronic Arts Inc (NASDAQ: EA) announced a restructuring plan to reduce headcount by approximately 6% of the company’s workforce, in addition to cutting office space.

  • The company expects the restructuring to cost between $170 million and $200 million.

  • The restructuring prioritizes the company’s growth opportunities and optimizes its real estate portfolio.

Fashion retailer H&M reports Q1 sales growth of 12%; Reports of spring season start delays in many markets

  • Swedish clothing giant Hennes & Mauritz AB (OTC: HNNMY) reported a 12% year-on-year increase in revenue to SEK 54.87 billion in the first quarter of FY23.

  • Excluding Russia, Belarus and Ukraine, the increase was 16% in SEK and 7% in local currencies. The gross margin was 47.2%.

  • Sellpy, one of the largest second-hand platforms in Europe and previously an investment company, will be consolidated into the H&M group from Q1.


Netflix and Thrills: Streaming giant is reportedly gearing up for big transition to TV gaming

  • Netflix Inc (NASDAQ: NFLX) appears to be testing the idea of ​​expanding its gaming service to televisions.

  • app developer Steve Moser spotted Netflix code and discovered the streaming giant plans to expand its video gamer service beyond smartphones and tablets by bringing it to TVs for the first time.

  • The code links to games that can be played on TVs, phones, and controllers.

JetBlue joins United and Delta in parrying flights to reduce congestion and delays

  • JetBlue Airways Corp (NASDAQ:JBLU) is preparing to cut flights to New York during the upcoming summer travel season.

  • Federal regulators have asked airlines to cut flight schedules by up to 10% at some of the country’s busiest airports due to an air traffic controller crisis.

  • Delta Air Lines, Inc (NYSE:DAL) and United Airlines Holdings, Inc (NASDAQ: UAL) are also preparing to cut flights this summer to reduce congestion and delays.

  • Airlines have until April 30 to determine what flight schedules or times they will temporarily abandon at Washington and New York-area airports.

Starbucks investors vote for workers’ rights assessment

  • Starbucks Corp (NASDAQ:SBUX) Investors are urging an outsider’s evaluation of how the company is treating its workforce.

  • The non-binding proposal was approved in the face of a union surge in its coffee shops across the US

  • In the vote, more than half of the investors wanted an assessment of workers’ rights.

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Meta considers political advertising ban as part of stricter EU regulations

  • Metaplatforms Inc (NASDAQ: META) is considering a company-wide ban on political advertising in Europe.

  • The ban follows concerns about its social networking platforms like Facebook And Instagram Failure to comply with upcoming EU regulations targeting online advertising.

  • CEO Mark Zuckerberg is concerned that the plan’s definition of political advertising will be so broad that it will be easier to opt-out of all paid political campaigns on the company’s websites.


Google flags Microsoft’s cloud practices as anti-competitive

  • alphabet inc (NASDAQ:GOOG) NASDAQ:GOOGL) Google cloud slammed Microsoft for anti-competitive cloud computing practices.

  • Google Cloud also criticized Microsoft’s forthcoming deals with European cloud providers, saying they do not address broader concerns over licensing terms.

  • Google Cloud Vice President Amit Zavery told Reuters the company had raised the issue with antitrust authorities and asked the European Union antitrust authorities to take a closer look.

Philips expects recall settlements this year

  • Royal Philips NV (NYSE:PHG) intends to negotiate settlements related to its global ventilator recall this year.

  • “I think we can at least reach an agreement on the economic damage this year,” Reuters CEO Roy Jakobs quoted as saying in an interview with the Dutch financial newspaper FD.

  • According to the report, Jakobs added that he “hopes and expects” to reach a settlement with the US Food and Drug Administration this year.

Coinbase photo via company

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