Morgan Stanley – pressnews

Corporate Talent Wars! Wall Street Banks Are Poaching Goldman Sachs Group’s AI Talent

29Nov

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Technology

Corporate Talent Wars! Wall Street Banks Are Poaching Goldman Sachs Group’s AI Talent

[ad_1] For months, banks have been jockeying to lure the best AI talent to their ranks — and Goldman Sachs Group Inc. has been on the losing end of that fight. The Wall Street giant has seen a net outflow of 60 people to rivals such as Morgan Stanley and Citigroup Inc. in the 12 months through September, the most of any of its biggest rivals, according to data compiled by the consultancy Evident. Bank of America, which is down 55 staffers, suffered the second-biggest exodus, while Wells Fargo & Co. had the biggest net increase with 130 people. “It's not just about hiring people, but nurturing and retaining them,” Alexandra Mousavizadeh, Evident's chief executive officer, said in an interview. “They have a lot of other places to go.” While the departures represent a small amount of ...

Ford Cuts Price on Electric Version of F-150 Truck by Up to 17%

18Jul

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Technology

Ford Cuts Price on Electric Version of F-150 Truck by Up to 17%

[ad_1] Ford Motor Co. is slashing prices on the electric version of its best-selling F-150 pickup by as much as 17%, as it moves to fend off new competition coming from Tesla Inc. and General Motors Co.The F-150 Lightning Pro, the cheapest version of the electric truck aimed at commercial buyers, now starts at $49,995. That's down about $10,000 but still above the original starting price of $39,974 when it went on sale in April 2022. The lowest priced model aimed at consumers, the XLT, was also cut about $10,000 and now starts at $54,995. The cuts Monday reverse roughly half the price hikes Ford had implemented on its battery-powered truck over the last year. Chief Executive Officer Jim Farley previously boasted that Ford was raising prices on the Lightning while Tesla cut prices on its...

GPT-4 Could Turn Work Into a Hyperproductive Hellscape

17Mar

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Technology

GPT-4 Could Turn Work Into a Hyperproductive Hellscape

[ad_1] OpenAI has announced a major upgrade to the technology that underpins ChatGPT, the seemingly magical online tool that professionals have been using to draft emails, write blog posts and more. If you think of ChatGPT as a car, the new language model known as GPT-4 adds a more powerful engine. The old ChatGPT could only read text. The new ChatGPT can look at a photo of the contents of your fridge and suggest a dinner recipe. The old ChatGPT scored in the 10th percentile on the bar exam. The new one was in the 90th. In the hours since its release, people have used it to create a website from a hand-drawn sketch or look through a dating website for an ideal partner.But this is the fun part of unleashing a powerful language model to the public. The honeymoon period. What are the long...

Musk’s banks to book Twitter loan losses -sources

14Dec

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Technology

Musk’s banks to book Twitter loan losses -sources

[ad_1] Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans. Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans this quarter, but they are likely to do so in a way that it does not become a major drag on their earnings, according to three sources with direct knowledge of the situation. Banks typically sell such loans to investors at the time of the deal. But Twitter's lenders, led by Morgan Stanley, could face billions of dollars in losses if they tried to do so now, as investors shy away from buying risky debt during a period of economic uncertainty, market participants said. In addition, Twitter has seen advertisers flee amid worries about Musk's approach to policing twee...