Author: theparknews

(Reuters) – IBM on Monday released the latest version of its artificial intelligence model for enterprises, aiming to take advantage of the surge in companies adopting generative AI technology.The Granite 3.0 model, like other versions of IBM’s Granite family of AI models, will be open source. This approach differs from competitors such as Microsoft, which charges customers for access to their models.On the other hand, IBM offers a paid tool called Watsonx that helps you run your models within your data center after customization.Some variants of the new Granite model will be commercially available on the Watsonx platform starting Monday.…

Written by Casey HallSHANGHAI (Reuters) – China’s second-hand and gray market for luxury goods is booming, with soaring prices for luxury brands due to the economic downturn as some shoppers look for ways to buy cheaper, and LVMH There are growing concerns about this.LVMH, the world’s largest luxury goods group, reported a 3% drop in quarterly sales last week, the first quarterly sales decline since the pandemic that was weaker than expected as demand fell in China and Japan.Italy’s Salvatore Ferragamo also reported a drop in quarterly sales due to slowing demand from China.”The problem is that as long as…

Written by Hakan Elsen FRANKFURT (Reuters) – SAP shares rose 5% to 221 euros ($239.21) at market open on Tuesday after the German software company raised its full-year target for its strong cloud business in the third quarter. ) reached an all-time high. . Third-quarter cloud revenue rose 27% to €4.35 billion ($4.71 billion), adjusted for currency effects. This was driven by a 36% increase in sales of Cloud ERP Suite resource planning software. According to CEO Christian Klein, artificial intelligence was a key growth driver. “About 30% of cloud contracts in the third quarter included AI usage scenarios,” he…

Andrei Shchev (Reuters) – German luxury carmaker Mercedes-Benz on Friday reported a 64% drop in third-quarter profit at its core auto division, as Chinese consumers continued to hold back on luxury purchases amid the economic downturn, and analysts reported a 64% decline in third-quarter profit. The list was announced to be significantly lower than expected. “The results for the third quarter did not meet our targets,” Chief Financial Officer Harald Wilhelm said in a statement, adding that the group would step up its cost-cutting efforts. Mercedes added that revenue in the July-September period was hit by model refresh costs as…

Written by Lei Wee SINGAPORE (Reuters) – After a cautious start to the week in financial markets, currency trends were in the spotlight on Monday ahead of a busy week ahead of the decisive U.S. presidential election. This week will also provide investors with a global monetary policy catalyst with interest rate decisions by the Federal Reserve, Bank of England (BoE), Reserve Bank of Australia (RBA), Riksbank and Norges Bank. The Standing Committee of China’s National People’s Congress (NPC) will convene from November 4 to November 8, and will focus on further details of a number of recently announced economic…

Written by David Shepherdson WASHINGTON (Reuters) – The National Highway Traffic Safety Administration has expressed concern about social media posts suggesting Tesla’s fully self-driving software could be used as robotaxis and do not require driver attention. In October, NHTSA announced that 2.4 million Tesla vehicles equipped with FSD software would be subject to four crashes in 2023, including a fatal crash, in conditions such as sun glare, fog, and airborne dust. An investigation has begun. In a May 14 email published Friday, NHTSA told Tesla that the company’s social media posts had warned people that FSD “requires sustained attention and…

NEW YORK & ATLANTA, September 30, 2024–(BUSINESS WIRE)–Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today completes the acquisition of Veritas’ digital banking business. It was announced that. NCR Voyix Corporation (NYSE: VYX) (“NCR Voyix”) is a leading global provider of cloud-based digital commerce solutions. Upon completion of the transaction, the digital banking business will be rebranded as Candescent and will now be a privately held company.Candescent is the largest platform of its kind in the United States and continues to serve more than 1,300 financial institutions and more than 29 million registered users.As an…

MADISON, Wis., October 8, 2024–(BUSINESS WIRE)–First Business Financial Services, Inc. (the “Company” or “First Business Bank”) (Nasdaq: FBIZ) discusses our efforts We invite you to join us for a conference call. Conference calls and webcasts may contain forward-looking statements and other important information.event:Earnings Conference Call – Q3 2024when:Friday, October 25, 2024, 1:00 PM Central Timehow:via conference call or simultaneous webcastaccess:Conference call dial-in:800-343-4849 (toll free)203-518-9848 (International) Teleconference access code:FBIZ Webcast:https://events.q4inc.com/attendee/456665235 Corey A. Chambas, Chief Executive Officer, David R. Seiler, President and Chief Operating Officer, and Brian D. Spielman, Chief Financial Officer, present their results for the third quarter of 2024. I’ll…

LOS ANGELES, Oct. 10, 2024–(BUSINESS WIRE)–The following is a statement provided by the Los Angeles Business Council.“Los Angeles has launched the city’s new ProCure LA initiative to provide local businesses with the support and resources they need to take advantage of the opportunities presented by major sporting events such as the 2026 FIFA World Cup and the 2028 Olympic and Paralympic Games. Kudos to Mayor Karen Bass, LA Region.“Global events can create meaningful opportunities for local small businesses, but only if businesses are well-equipped to access and capture fair contracting opportunities.“To ensure that local small businesses are not left behind,…

OLDWICK, N.J., October 22, 2024–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating (FSR) of A+ (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of ‘aa-‘. Assigned. (Top) for Berkley Luxury Insurance Company (Berkley Luxury), Urbandale, Iowa. The outlook assigned to FSR is stable, while the outlook assigned to long-term ICR is positive. Barclay Luxury is a new subsidiary of the Ratings Division of WR Barclay Corporation (WR Barclay). The credit rating (rating) reflects Barclay Luxury’s inclusion as a member of the Principal Rating Unit, and the company has a strong balance sheet, which AM Best rates as the…