Sam Altman, chief executive officer of OpenAI, during a fireside chat organized by Softbank Ventures Asia in Seoul, South Korea, on Friday, June 9, 2023. SeongJoon Cho | Bloomberg | Getty ImagesOpenAI on Monday announced it had closed what amounts to the largest private tech funding round on record.The $40 billion financing values the ChatGPT maker at $300 billion, including the fresh capital. It’s nearly three times the amount previously raised by a private tech company, according to PitchBook.The valuation puts OpenAI behind only SpaceX at $350 billion and even with TikTok parent ByteDance among the world’s most richly valued private…
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Hundreds of Canadian workers, primarily in the steel and aluminum industry, are facing layoffs due to tariffs imposed by US President Donald Trump. According to major unions and companies, the situation is expected to worsen if the tariffs remain in place for an extended period. Economists warn that the longer these policies persist, the broader their impact on Canada’s economy and labor market. Concern over immediate layoffs Trump’s steel and aluminum tariffs, implemented on March 12, have already resulted in significant job losses. Marty Warren, National Director of the United Steelworkers, the largest private-sector union in North America, reported that…
Carbon Streaming (OTCQB: OFSTF) reported its financial results for FY2024, revealing significant challenges and restructuring efforts. The company ended the year with $37.4 million in cash and no corporate debt, while implementing major cost-cutting measures by reducing full-time staff from 24 to 4 by January 2025.Key financial metrics include a net loss of $67.4 million for 2024, compared to $35.5 million in 2023, largely due to a $58.2 million loss on revaluation of carbon credit streaming agreements. The company generated $1.6 million in settlements from carbon credit agreements.Notable portfolio developments include: the Rimba Raya Stream facing legal challenges over license…
Getting people onto trains has never been more important.It’s simple physics. A thousand-foot commuter train can hold 1,000 people; a string of cars 1,000-feet long would hold no more than 100 people, even if each car was smaller than a Mini Cooper. Getting people back on trains and onto transit is essential to bringing our cities back to full health post-pandemic and building beyond into the future. Congestion pricing proves that reducing traffic improves quality of life and bolsters local businesses. Speeding up and expanding service is proven to grow ridership on existing routes and induce mode-change, fueling a virtuous…
In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)Sopa Images | Lightrocket | Getty ImagesAnthropic said it will start sweeping physical offices for hidden devices as part of a ramped-up security effort as the artificial intelligence race intensifies.The company, backed by Amazon, published safety and security updates in a blog post on Monday, and said it also plans to establish an executive risk council and build an in-house security team.Anthropic closed its latest funding round earlier this month at a $61.5…
The recent market decline has prompted another Wall Street strategist to revise its S&P 500 forecast lower for 2025. On Friday, UBS Global Wealth Management head of US equities David Lefkowitz predicted earnings would come in weaker than previously expected, prompting a trim to the firm’s year-end price target to 6,400 from 6,600 on the broad-based index. “We still believe that US stocks can recover and post gains for the year. However, recent economic weakness and our expectation that tariffs will be at the higher end of our base case prompts us to lower our 2025 S&P 500 EPS estimate…
Make sure you don’t owe federal or state taxes on your legal settlement. Use your settlement money to pay off credit card and other debts first. Budget any remaining funds for savings, retirement or college for your children. When you’ve taken legal action against an individual or company, you may have been awarded money for damages from a settlement where you and the other party agreed to an amount that everyone can live with without having to go to court. Or maybe you took it all the way and you won a lawsuit which resulted in a judgment in your…
The European Union is looking to prop up Europe’s steel and metals industry with a new action plan. Sector organizations welcome the plan, but say the crisis that began with spiking energy costs at the end of 2021 now needs to be addressed with urgent actions if the EU has a chance to regain at least part of its competitiveness from before the energy crisis.The high energy costs that have crippled the European metals industry have now combined with the U.S. tariffs to further undermine Europe’s steel and aluminum sectors, which have been in crisis for three years. The EU…
The Global Carbon Credit Market Carbon credits are credits that enable the trading of greenhouse gas reduction and absorption. In 2024, an estimated 290 million tons of carbon credits were created globally, with Africa contributing about 20%, or 59 million tons. Africa is expected to generate 2.4 billion tons*2 of carbon credits annually by 2030, with further market expansion also anticipated. Business Overview Sumitomo Corporation will expand its business by entering mangrove reforestation carbon credit generation initiatives in Africa, a region with growing economic potential and substantial mangrove forest resources. Madagascar Project In October 2023, Sumitomo Corporation and VNV signed…
Learn about Voluntary Carbon Emissions Offset Trailing futures and how they’re used with our educational lesson. Source link