Microsoft Corp has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported on Friday. The company has told at least two customers that using its Bing search index - a map of the internet that can be scanned in real time - to feed their AI chat tools violates the terms of their contract, the news agency said, citing people familiar with the dispute. Redmond, Washington-based Microsoft may also terminate licenses providing access to its search index, Bloomberg added. Microsoft did not immediately respond to a request for a comment. The maker of the Windows operating system had said in February it was revamping its Bing search engine and Edge Web browser with artificial intelligence, signaling its ambition to retake the lead in consumer technology markets where it has fallen behind. The upgraded Bing search … [Read more...] about Microsoft threatens to restrict data from rival AI search tools: Bloomberg News
Bloomberg
Asian markets extend global rally as banking sector fears ease
Asian markets rose Friday, tracking New York and European equities, as traders welcomed multi-billion-dollar shows of support for troubled banks aimed at soothing concerns about contagion in the sector. A rollercoaster week was on course to end on a positive note after several Wall Street titans including JP Morgan, Bank of America and Citigroup stumped up $30 billion to deposit into troubled First Republic. The move came as investors feared the lender could suffer a run of withdrawals by customers worried it would follow Silicon Valley bank and Signature Bank, which went under last week and fuelled fears of another financial crisis. "The actions of America's largest banks reflect their confidence in the country's banking system," the group of 11 banks said of a plan that was coordinated by US regulators. Earlier, European giant Credit Suisse said it would borrow nearly $54 billion made available by the Swiss central bank to "support" the group. Markets welcomed the measures, … [Read more...] about Asian markets extend global rally as banking sector fears ease
Banks continue with consolidation game
VPBank last week was rumoured to be close to an agreement to sell 15 per cent of stakes to Sumitomo Mitsui Financial Group, one of Japan’s largest financial companies. The estimated agreement is valued at around $1.4 billion, cited Bloomberg. “The Vietnamese bank will sell more than one billion shares to SMBC Consumer Finance, a unit of the Japanese megabank, for $1.35-1.39 each,” the newswire noted. Banks continue with consolidation game, illustration photo/ Source: Shutterstock VNDirect Securities told VIR that due to a high capital adequacy ratio of 20.5 per cent in 2022, VPBank could receive a higher credit limit from the State Bank of Vietnam this year. In addition, the brokerage predicted that the bank would invest significantly to diversify its products and expand its footprint in other segments, such as VPBank Securities in the securities market or OPES – its new non-life insurance arm. With the 15 per cent stake sale to SMBC, VPBank would consolidate and … [Read more...] about Banks continue with consolidation game