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According to the Daily Mail

OpenAi's CEO issues with firing then re-hiring Sam Altman

Elon Musk, a founder of OpenAI, had previously criticized Altman and co-founder Greg Brockman, alleging a hostile work environment and unethical practices.

  • Controversies around Altman's firing included concerns about downplaying AI dangers and internal tensions within the company.

  • 700+ employees threatened to quit; Altman re-hired with Microsoft's support.

  • OpenAI is accused of shifting from non-profit to profit-driven, controlled by Microsoft.

  • Despite criticism, Microsoft provides substantial financial support, highlighting ongoing investments in OpenAI.

According to the NY Times

OpenAI CEO Sam Altman, firing reasons were cited as a communication breakdown with the board.

  • The board is concerned about the pace of commercialization, contracts, and promises not aligned with OpenAI's mission.

  • Microsoft's CEO Satya Nadella announces a new division led by Altman, influencing Altman's reinstatement.

  • Over 90% of OpenAI employees threaten to quit unless Altman is reinstated; the board resigns, and Altman returns.

  • Controversy surrounds OpenAI's shift from a non-profit to a for-profit model, raising questions about mission integrity.

  • The firing and subsequent reinstatement underscore challenges in governing powerful AI entities.

  • Amidst these events, global governments, including the Biden administration, are taking steps to regulate AI development.

  • Regulatory efforts aim to ensure the safe and trustworthy development of AI, but face resistance from some in the tech industry.

  • The evolving landscape prompts considerations of global competition in AI development and regulation.

The Issue with Binance

Binance temporarily halts USD Coin (USDC) withdrawals, triggering concerns and high fund withdrawals.

  • Binance faces record $4.3 billion payout to US authorities, and CEO Changpeng Zhao resigns, pleading guilty to money laundering charges.

  • US authorities accuse Binance of enabling transactions linked to child abuse, narcotics, and terrorist financing.

  • Binance claims stabilization and a temporary halt due to a "token swap," emphasizing increased withdrawal volume and routing through a New York-based bank.

  • Market concerns about Binance's transparency, compliance with anti-money laundering laws, and proof-of-reserves.

  • Binance's future is uncertain as it grapples with legal challenges, diminished trust, and a rapidly changing crypto industry.

  • Binance faces European euro withdrawal issues, prompting a former SEC official to call for investigation and caution.

  • Recent incidents, including FTX's collapse, contribute to growing worries about the trustworthiness of centralized exchanges.

According to Forbes and CNN

What happened on Black Friday this year?

RBC's consumer spending tracker shows a 10% increase in spending on essentials, such as groceries, gasoline, and utilities.

  • Families offset increased essential spending by cutting back on non-essential services like vacations and restaurant outings.

  • Retailers, including Staples, adjust Black Friday strategies, offering planned sales with price guarantees until Christmas.

  • Despite strong demand for tech and gadgets, shoppers express caution, with some finding deals that could be more affordable in the current economic climate.

  • Consumers become more selective, emphasizing the impact of rising costs on their purchasing decisions.

  • Black Friday shows a change in consumer behaviour amid inflation concerns.

  • U.S. holiday spending is expected to grow at the slowest pace in five years.

  • Shoppers are cautious, prompting retailers to offer early discounts.

  • Despite an estimated 130.7 million shoppers, the in-store atmosphere was reported as quieter.

  • Online spending increased by 7.4% to $7.3 billion on Black Friday.

  • Retailers closely monitoring consumer reactions amid economic challenges.

According to CBC and Reuters

TwitLoss: Elon's Impact on X's Bottom Line

X (formerly Twitter) could lose $75 million in advertising revenue by year-end after Elon Musk endorsed an antisemitic theory.

  • Over 200 ad units from significant brands like Airbnb, Amazon, Coca-Cola, and Microsoft are considering pausing or pausing ads.

  • X disputes figures, citing $11 million at risk, with fluctuating numbers as some advertisers return.

  • Musk's controversial statements and content moderation decisions impact brands advertising on X since his acquisition last year.

  • X is involved in a lawsuit against Media Matters, blaming the group for declining ad sales.

  • Musk announces a revenue donation from ads associated with the Gaza conflict to hospitals in Israel and the Red Cross/Crescent in Gaza.

  • Despite challenges, X aims to maintain a stance on free speech, emphasizing its commitment to a thriving democracy.

According to the NY Times

Issues on Inflation in Canada

Canada's inflation, measured by the Consumer Price Index (CPI), was 3.1% in October, down from the previous month's 3.8%, driven by a decrease in gasoline prices.

  • Excluding gasoline, the inflation rate would have been 3.6%.

  • Food prices increased by 5.4% annually, showing a slowdown in grocery prices for four consecutive months.

  • Shelter costs rose by over 6% in the past year, primarily due to an 8.2% increase in rent and a 30% surge in mortgage interest costs.

  • Property taxes also increased by 4.9%, the largest one-year increase since 1992.

  • Removing mortgage costs would result in a 2.2% inflation rate, and excluding shelter costs, it would be 1.9%.

  • Rising shelter costs impact household budgets, potentially influencing the Bank of Canada's decisions on rate hikes.

According to CBC News

Navigating Vancouver's Job Horizon

Over the next decade, 75% of the one million jobs in British Columbia will require post-secondary education or training.

  • Six hundred fifty thousand of these jobs will replace retirees, while others will be created through economic growth.

  • Job opportunities for degree or diploma holders include nurses, teachers, software engineers, social workers, and police officers.

  • Skilled trades in demand are cooks, carpenters, building superintendents, hairstylists, and heavy equipment operators.

  • The government launched "Find Your Path," a digital tool to guide education and career planning for future jobs.

According to the Vancouver Sun

A Mortgage Shake-Up

Variable-rate mortgagors could face an 84% payment shock by 2026 if interest rates do not decline, creating challenges for borrowers and impacting retail banking at Canadian banks. 

  • RBC warns of a "payment shock" for Canadian homeowners, with up to a 48% increase in monthly mortgage payments by 2026, posing a potential risk to banks.

  •  A significant number of mortgages are set to renew in the next three years, and unless interest rates decline, credit losses may rise, according to RBC Capital Markets analyst Darko Mihelic. 

  • Variable-rate mortgagors could face an 84% payment shock by 2026 if interest rates do not decline, creating challenges for borrowers and impacting retail banking at Canadian banks.

According to the Vancouver Sun