davepulis – EuroMed

From bears to bulls to AI booms

Bears did it again? The massive move lower in the AAII bull – bear spread (outlined here) has resulted in markets squeezing lately. Nothing new, but frustrating for the crowd. Source: Refinitiv Smart money Smart or not, but they missed the latest squeeze… Source: Barclays Buyback ATH 29% of global stocks are buying back their shares,…

JPMorgan Chase to spend $200 million on carbon dioxide removals

LONDON, May 23 (Reuters) – U.S. bank JPMorgan Chase & Co (JPM.N) will spend over $200 million on carbon dioxide removal credits to take away and store 800,000 tons of emissions as part of its sustainability efforts, it said on Tuesday. Even with pledges of huge reductions in emissions, many scientists believe extracting carbon dioxide (CO2) by…

Europe Agrees To Remove Energy Support Stimmies To Cut Budget Deficits

In a move that could send Europe into an even a deep recessionary tailspin and crush the continent’s long-suffering consumers, should Europe’s energy problems extend into the new year – which they almost certainly will – last Thursday Euro zone finance ministers agreed to withdraw energy support measures to their economies and use the savings to…

Amazon To Invest $100M In Generative AI Center

In Latin America, China Gets Down To Business As U.S. Dithers

Before COVID-19 raged through Chile in all its lethal power, Jorge Barrios sat in his living room using sanitation wipes to scrub a recently received package. “It’s from China,” he said. “You have to be careful with these things.” It was February 2020, and although most Chileans had heard of COVID and its ability to kill,…

Germany And The EU Are Hopelessly Behind On EVs & Artificial Intelligence

The EU is hopelessly behind the US and China on technology that will lead the future. It will stay that way… Sleepwalking Into Oblivion Eurointelligence has an interesting article on how Germany is Sleepwalking Into Oblivion. Current policy debates are rightly focused on the consequences of global bifurcation. But perhaps an even bigger danger for the EU is…

Alphabet Shares Slide On Report Samsung Abandoning Google For Bing

Shares of Alphabet slid during premarket trading in New York on Monday following a New York Times report on Sunday that revealed South Korean consumer electronics giant Samsung was considering replacing Google with Microsoft’s Bing as the default search engine on its devices. NYT said Google’s employees were “shocked” when they heard about the news in March.…

UBS May Slash 36,000 Positions Following Credit Suisse Takeover

The forced bail-in sale of Credit Suisse to UBS will lead to a staggering number of job cuts, ranging from 20% to 30%, which equates to a reduction of approximately 25,000 to 36,000 positions, as reported by SonntagsZeitung newspaper, quoting insiders. Earlier this month, UBS agreed to acquire its struggling competitor Credit Suisse for 3 billion Swiss francs ($3.3…

World Bank Warns Of ‘Lost Economic Decade’ As Turmoil Spreads

The world is in a precarious situation, with the potential for nuclear conflict. Central banks are taking aggressive measures to address decades-high inflation by raising interest rates, which in turn is causing a banking crisis in the Western world. As recession risks surge worldwide and international trade fractures, the future of the global economy appears…

The EU Will Lag On AI For The Same Reason It Lost On Phones And EVs

Let’s discuss why the EU lags on artificial intelligence, electric vehicles, cloud storage, phone technology, and nearly everything else… Eurointelligence comments Europe is Losing the AI Battle. Having missed the first stage of the digital revolution, Europe is now in danger of missing the next big phase: that of artificial intelligence, a technology that is now…