In a rare and speedy move, the Hong Kong government is pressing ahead with diesel subsidies and toll cuts for the commercial transport sector as the global oil crisis escalates. The short-term measures are timely, targeted and reasonable. They are exactly what the industries need as they grapple with soaring fuel prices fuelled by conflict in the Middle East. The two-month HK$3 (US$0.38) per litre...
In a rare and speedy move, the Hong Kong government is pressing ahead with diesel subsidies and toll cuts for the commercial transport sector as the global oil crisis escalates. The short-term measures are timely, targeted and reasonable. They are exactly what the industries need as they grapple with soaring fuel prices fuelled by conflict in the Middle East. The two-month HK$3 (US$0.38) per litre diesel subsidies for public and commercial vehicles, vessels and related industries as well as...
Significant value was unlocked in Commvault Systems (NASDAQ: CVLT) stock on the final trading day of the week. Following a media report stating that its management is seriously considering a sale of the cybersecurity and data protection company, investors fell over themselves snapping up the stock. It ended Friday more than 10% higher in price. That morning, Reuters published an article stating th...
Significant value was unlocked in Commvault Systems (NASDAQ: CVLT) stock on the final trading day of the week. Following a media report stating that its management is seriously considering a sale of the cybersecurity and data protection company, investors fell over themselves snapping up the stock. It ended Friday more than 10% higher in price. That morning, Reuters published an article stating that Commvault was mulling such a move after it drew takeover interest from several would-be suitors. Image source: Getty Images. Continue reading
Fans jeer as draw follows losses to Mallorca and Bayern Marseille go third in Ligue 1 as Paris FC stun Monaco Real Madrid had to settle for a 1-1 draw against mid-table Girona in La Liga on Friday, extending the hosts’ winless run to three games in all competitions and giving leaders Barcelona the chance to stretch their advantage at the top. Federico Valverde put Madrid ahead six minutes after ha...
Fans jeer as draw follows losses to Mallorca and Bayern Marseille go third in Ligue 1 as Paris FC stun Monaco Real Madrid had to settle for a 1-1 draw against mid-table Girona in La Liga on Friday, extending the hosts’ winless run to three games in all competitions and giving leaders Barcelona the chance to stretch their advantage at the top. Federico Valverde put Madrid ahead six minutes after half-time but Girona levelled in the 62nd minute through Thomas Lemar. Álvaro Arbeloa’s side are six points behind with league leaders Barça, who have a game in hand against Espanyol on Saturday and could move nine clear with seven games to play. Continue reading...
The S&P 500 Index ($SPX ) (SPY ) on Friday closed down -0.11%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.56%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.14%. June E-mini S&P futures (ESM26 ) fell -0.12%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) on Friday closed down -0.11%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.56%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.14%. June E-mini S&P futures (ESM26 ) fell -0.12%, and June E-mini Nasdaq futures...
Sophie Park/Getty Images News An "urgent" meeting This news hit the market unexpectedly on Friday morning: Bessent, Powell convened urgent meeting with bank CEOs about Anthropic's new AI model. So, this meeting was convened by 1) the Fed Chair, who is in charge of monetary policy with emergency powers to respond to a major financial crisis to protect the financial markets and liquidity, 2) the Tre...
Sophie Park/Getty Images News An "urgent" meeting This news hit the market unexpectedly on Friday morning: Bessent, Powell convened urgent meeting with bank CEOs about Anthropic's new AI model. So, this meeting was convened by 1) the Fed Chair, who is in charge of monetary policy with emergency powers to respond to a major financial crisis to protect the financial markets and liquidity, 2) the Treasury Department Secretary, who is in charge of fiscal policy and responsible for the US Dollar stability. The meeting included the CEOs of major financial institutions, basically in charge of the global financial system. This was not a seminar on AI, or a lower-level meeting on technology - this was the highest-level meeting, and it was "urgent", as specifically pointed out by the media . Usually, these types of highest-level urgent meetings are held in response to a major systematic risk threatening the financial system. So, what was so urgent, and important to have the highest-level policymakers and finance executives to meet? The media says it was about the new Anthropic AI model internally called Mythoss, still not released to the public. The new Anthropic model Mythoss There is definitely uncertainty why would the new AI model require an urgent meeting at the highest level. The available information suggests this is not a rogue agentic AI model, with a potential to disrupt the global economy, and it's not a cyber-attack. Mythos seems to be "an advanced large‑language/reasoning model developed by Anthropic, which is more autonomous and more capable than standard chat-style models, currently evaluated or tested for high‑stakes financial use cases (risk management, strategy, decision support, possibly trading or credit decisions)" The keyword here is "reasoning model'. Thus, Mythos is an advanced reasoning tool developed for finance, but it's not more advanced based on quantitative analysis, it's more advanced on providing a coherent narrative. So, the key is not "intell...