To The Moon

The second-biggest bank failure in US history presents Jamie Dimon, jpmorgan chief executive, with a rare opportunity to regain some ground in a wealth management business long ceded to rivals.The largest bank is also the only one whose stability hasn’t been questioned. Its C.E.O. makes sure of that.It was well before dawn on Monday when federal regulators notified $JPMorgan Chase(JPM)$ executives that they had beaten out three smaller rivals in their bid to buy the doomed $First Republic Bank(FRCB)$ .By the time the sun rose, JPMorgan’s longtime chief executive, Jamie Dimon, was once again illuminated as the industry’s savior — and the architect of yet another government-brokered deal to help his gargantu

A man stabbed to death early Tuesday morning near downtown San Francisco was well-known tech executive Bob Lee, founder of Cash App and the former chief technology officer of $Block(SQ)$ , sources told KPIX.Officers responded at about 2:35 a.m. to a report of a stabbing in the 300 block of Main Street in the city's Rincon Hill neighborhood and arrived to find the victim, who was taken to a hospital and succumbed to his injuries there, police said.The city's medical examiner's office had not yet identified the victim as of Tuesday evening, but friends of Lee told KPIX he was the victim. The 43-year-old Lee was the Chief Product Officer of San Francisco-based cryptocurrency startup MobileCoin.bob-lee

It is important to note that FedNow, the Federal Reserve's upcoming instant-payment tool, is a major innovation in electronic payments, as well as speeding up savers' ability to move money out of their bank accounts to higher-yielding alternatives during a time of financial turmoil.Banks may be under increasing pressure to stem outflows as a result of these trends. This is especially true if they need to be forced to take down assets that have yet to realize losses.1.What is the FedNow Service?FedNow is an instant payments service being developed by the United States Federal Reserve Bank (Fed). The FedNow Service, or FedNow for short, is designed to offer uninterrupted 24/7/365 processing and will feature integrated clearing functionality, enabling financial institutions to deliver end-to-

In my lifetime, I’ve seen two demonstrations of technology that struck me as revolutionary.$Microsoft(MSFT)$ The first time was in 1980, when I was introduced to a graphical user interface—the forerunner of every modern operating system, including Windows. I sat with the person who had shown me the demo, a brilliant programmer named Charles Simonyi, and we immediately started brainstorming about all the things we could do with such a user-friendly approach to computing. Charles eventually joined Microsoft, Windows became the backbone of Microsoft, and the thinking we did after that demo helped set the company’s agenda for the next 15 years.The second big surprise came just last year. I’d been meeting with the team fromOpenAIsince 2016 and was impr

The final week of 2022 saw a sharp sell-off in US stocks. According to JP Morgan, retail investors sold a total of $3.1 billion of securities in the final week of last year. This was the third highest net sales week on record. Among individual stocks, retail investors sold off $Tesla (TSLA)$, with a net outflow of $881 million over the week, the largest single week of institutional outflows ever for the stock, as well as technology stocks such as $Nvidia (NVDA)$ and $Apple (AAPL)$.According to JP Morgan strategists, in addition to bearish sentiment, year-end tax loss selling may have been a major factor and led to significant retail outflows in December this year

With the imminent imposition of the 10% withholding tax on U.S. PTP-related securities on January 1, 2023, some securities have issued Qualiified Notices indicating that the PTP meets the exemption from withholding tax requirements of IRC Rule 1446(f)-4(b)(3), according to the latest news report.Reminder of normal trading in certain PTP products.That is, sales, transactions or transfers of these PTP-related securities from the date of the Company's announcement through the exemption period will be exempt from withholding tax of 10% of the total amount of the transaction. Normal orders can now be placed for these selected securities and securities transfers are supported. Note: The exemption period is 92 days from the date of announcement by the listed company. After the 92-day exemption pe

In the US show Silicon Valley, there is a funny scene where programmer Gilfoyle uses the AI chat software "Son of Anton" to poke fun at his best friend Dinesh, which simulates Gilfoyle's sultry humor and makes Dinesh think he's talking to Gilfoyle himself. When he found out the truth, fellow programmer Dinesh found out. After discovering the truth, Dinesh, a fellow programmer, also made an AI bot to get back at Gilfoyle. As a result, the two AI bots got into a hot chat and broke the internet ......Such a scenario has come to reality. The language modeling system GPT-3 launched by OpenAI, an American AI lab, has built a conversation between two AI's talking about how to become human, sending chills down the spine of those watching.But OpenAI did not stop there, but evolved GPT-3 into ChatGP

A December 2022 report suggested that Apple will no longer target full autonomy, include a steering wheel, and launch sometime in 2026 at the earliest.$Apple(AAPL)$ "Apple Car" features and testingSelf-Driving SystemsKept under the "Project Titan" name due to its closeness to the original car-design concept, Apple's work on self-driving vehicle systems has been the most prominent element of the entire scheme.Unlike the designs, which are brought up in patent filings and rumors, it is actively known Apple has developed and tested a self-driving system, one that has appeared in public filings with government regulators, and has even been spotted on public roads.In an early public admission of its automotive ambitions, Apple, ina statementissued to t

The US government recently announced a change in tax policy for foreigners investing in PTP-type companies, which will come into effect on 1 January 2023.Under the latest provisions of the PTP: for non-US investors holding, selling, trading or transferring PTP related securities, the following US tax costs will be incurred.● Withholding tax of 10% of the gross amount of the transaction when selling, trading or transferring PTP-related securities.● Withholding tax of 37% (for individual investors) or 21% (for corporate or institutional investors) of the gross amount of dividends distributed when a dividend distribution is received.So what exactly is PTP? This article will provide an explanation and answer to your questions.What is a PTP?PTP is a publicly traded partnership. This is a type o

$Dillard's(DDS)$ announced that its board of directors declared a quarterly cash dividend of $0.20 per share. of the Company's Class A and Class B common stock. The dividend will be paid on January 30, 2023 to shareholders of record as of December 30, 2022.The Company also announced that its Board of Directors declared a special dividend of $15.00 per share on the Company's Class A and Class B common stock. The dividend follows the Company's continued strong financial results for the first three quarters of 2022.In a joint statement, William DillardII, Dillard's Chief Executive Officer, and Alex Dillard, President, noted, "We are pleased with the Board's decision to once again pay a special dividend. Returning value to all shareholders is a real re