Skip to main contentSkip to main content
Updating results

Technology

Jesse A. Varela, Milwaukee, Wisconsin, operate motor vehicle while revoked, misdemeanor bail jumping.

  • Updated

Amazon CEO Andy Jassy is telling employees in a memo that the company plans to eliminate 9,000 more jobs in the next few weeks. The job cuts would mark the second largest round of layoffs in the company’s history. Amazon had already cut 18,000 in the past few months. In the memo on Monday, Jassy said the second phase of the company’s annual planning process completed this month and led to the additional job cuts. This time around, the job cuts will hit profitable areas for the company including its cloud computing unit AWS and its burgeoning advertising business. Twitch, the gaming platform Amazon owns, will also see some layoffs.

The majority of developing nations are set to miss out on the economic benefits of booming green technologies, slowing progress toward their climate goals and widening the inequality gap between rich and poor countries, a United Nations report warns.

  • Updated

In a scene reminiscent of the last financial crisis, the federal government turned to Wall Street this week for help with a blossoming emergency in the banking sector. The anxiety centered on First Republic Bank in San Francisco, which was reeling after customers withdrew billions of dollars. The result was a swift agreement among the nation’s leading banks to lay aside competitive instincts to come to First Republic’s aid. With Washington greasing the wheels, a coalition of lenders put $30 billion in uninsured deposits into the California-based bank as a show of support. The money gives First Republic a lifeline while it reportedly seeks a buyer.

  • Updated

Microsoft is infusing artificial intelligence tools into its suite of office software, including Word, Excel and Outlook emails. The company says the new feature, named Copilot, is a processing engine that will allow users to do things like summarize long emails, draft stories in Word and animate slides in PowerPoint. It will also add a chat function called Business Chat, which takes commands from users. The announcement came two days after OpenAI rolled out its latest artificial intelligence model, GPT-4. OpenAI powers the generative AI technology Microsoft is relying on. Microsoft rival Google has also been integrating generative AI tools into its own Workspace applications.

  • Updated

TikTok is dismissing calls for its Chinese owners to sell their stakes in the popular video-sharing app, saying such a move wouldn’t help protect national security. The company is responding to a report in The Wall Street Journal that said the Committee on Foreign Investment in the U.S., part of the Treasury Department, was threatening a U.S. ban on the app unless its owners, Beijing-based ByteDance Ltd., divested. TikTok spokesperson Maureen Shanahan says, “The best way to address concerns about national security is with the transparent, U.S.-based protection of U.S. user data and systems, with robust third-party monitoring."

  • Updated

The company behind the ChatGPT chatbot has rolled out its latest artificial intelligence model, called GPT-4, in the next step for a technology that’s caught the world’s attention. San Francisco-based OpenAI says GPT-4 is more reliable, creative and can handle “more nuanced instructions” than its predecessor, GPT-3.5, which is the system that ChatGPT was built on. GPT-4 can be fed both text and images that it uses to come up with answers. Unlike ChatGPT’s fixed tone, users can customize GPT-4 by asking for responses in the style of a Shakespearean pirate, for example. OpenAI have warned users to be careful, saying GPT-4 is “still not fully reliable” because it “hallucinates” facts and makes reasoning errors.

  • Updated

Silicon Valley Bank’s collapse has rattled the technology industry that had been the bank’s backbone. It's left shell-shocked entrepreneurs thankful for the government reprieve that saved their money, while they mourn the loss of a place that served as a chummy club of innovation. Tech startups are feeling relief for the deposit guarantees that will allow them to continue to pay their workers and other bills. But startup CEOs and the venture capitalists who back them worry that it may be more difficult to finance risky ideas in the future without the presence of an institution that had been a reliable partner for the past 40 years.

Can Washington come to the rescue of Silicon Valley Bank's depositors? If it even politically possible? That was one of the questions growing in Washington Sunday as policymakers tried to figure out whether the U.S. government _ and taxpayers _ should bail out a failed bank that largely served Silicon Valley, with all its wealth and power. Meanwhile, prominent Silicon Valley personalities and executives have been hitting the giant red ‘panic’ button, saying that if Washington doesn't come to the rescue of depositors, more bank runs are likely this week.

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News