Global Market developments include ex OpenAI members advocating for regulation, Glass Lewis advising against Musk’s US pay, European bank sanctions, and China’s housing rescue faltering.
Trust issues arise as OpenAI board members advocate for third-party regulation, Tesla shareholders oppose Musk’s pay, US considers sanctions, Alibaba expands cloud computing, and Japan’s central bank considers rate hike.
Trust Issues
Former OpenAI board members Helen Toner and Tasha McCauley argue that artificial intelligence companies cannot govern themselves and require third-party regulation. They maintain their decision to remove founder Sam Altman due to allegations of psychological abuse.
Musk pay package
Glass Lewis has urged Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing concerns about the package’s excessive size, dilutive effect on exercise, concentration of ownership, and Musk’s time-consuming projects.
European banks face growing risks operating in Russia
US Treasury Secretary Janet Yellen warns European banks face increasing risks operating in Russia, and is considering intensifying secondary sanctions on banks aiding Russia’s war effort transactions. Specifics are not provided.
Alibaba and AI
Alibaba has expanded its global cloud computing availability, focusing on AI products to fuel growth. The company plans to build new data centres in key markets like Malaysia, Thailand, and South Korea over the next three years.
Japan increase its benchmark rate
Japan’s central bank could increase its benchmark rate to 0.5% by the end of the year if economic conditions remain consistent, according to a former policy board member.
People’s Bank of China relief package
People’s Bank of China has unveiled $42 billion in funding to help local governments buy excess inventory from developers. This follows smaller efforts that have struggled to stabilize property markets. If economic expectations remain, another one or two hikes could be acceptable.
Trump Trouble
Bill Gross predicts a Trump victory in the US presidential election would be more disruptive for bond markets than a Biden win, as Trump’s tax cuts and increased expenses could exacerbate US deficits.
Nvidia’s Navigators
A bipartisan group of US lawmakers and Nvidia CEO Jensen Huang visited Taiwan, marking the first congressional visit since President Lai Ching-te’s inauguration, following China’s largest military exercise in a year.
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Glass Lewis has urged Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing concerns about the package’s excessive size, dilutive effect on exercise, concentration of ownership, and Musk’s time-consuming projects.
Glass Lewis has urged Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing concerns about the package’s excessive size, dilutive effect on exercise, concentration of ownership, and Musk’s time-consuming projects.
Glass Lewis has urged Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing concerns about the package’s excessive size, dilutive effect on exercise, concentration of ownership, and Musk’s time-consuming projects.
Glass Lewis has urged Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing concerns about the package’s excessive size, dilutive effect on exercise, concentration of ownership, and Musk’s time-consuming projects. Former OpenAI board members Helen Toner and Tasha McCauley argue that artificial intelligence companies cannot govern themselves and require third-party regulation. They maintain their decision to remove founder Sam Altman due to allegations of psychological abuse.
Former OpenAI board members Helen Toner and Tasha McCauley argue that artificial intelligence companies cannot govern themselves and require third-party regulation. They maintain their decision to remove founder Sam Altman due to allegations of psychological abuse.GlFormer OpenAI board members Helen Toner and Tasha McCauley argue that artificial intelligence companies cannot govern themselves and require third-party regulation. They maintain their decision to remove founder Sam Altman due to allegations of psychological abuse.obal Market Global Market Global Market
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