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ChatGPT sets record for fastest-growing user base – analyst note

Feb 1 (Reuters) – ChatGPT, the popular chatbot from OpenAI, is estimated to have reached 100 million monthly active users in January, just two months after launch, making it the fastest-growing consumer application in history, according to a UBS study on Wednesday. The report, citing data from analytics firm Similarweb, said an average of about …

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Blackstone REIT blocks investor withdrawals in January

Feb 1 (Reuters) – Blackstone Inc (BX.N) said on Wednesday it had blocked withdrawals from its $69 billion real estate income trust (BREIT) in January, as the private equity firm faced a surge in redemption requests from investors looking for cash out. BREIT said it fulfilled redemption requests of about $1.3 billion in January, representing …

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Adani market losses snowball to $100 bln on shelved share sale

NEW DELHI, Feb 2 (Reuters) – India’s Adani group shares sank on Thursday after market turmoil forced the conglomerate to ax a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marked a dramatic …

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Honda to start producing new hydrogen fuel cell system co-developed with GM

TOKYO, Feb 2 (Reuters) – Japan’s Honda Motor Co (7267.T) said it will start producing a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) this year and gradually step up sales this decade, in a bid to expand its hydrogen business. Honda will target annual sales of around 2,000 units of …

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As Tesla ignites an EV price war, suppliers brace for Musk seeking givebacks

SAN FRANCISCO, Feb 1 (Reuters) – Tesla Inc (TSLA.O) suppliers are bracing for pressure from Chief Executive Elon Musk and his team to cut their prices further after the electric car leader aggressively slashed vehicle prices in a slowing economy, industry officials. who worked with the automaker and its suppliers said. The suppliers saw as …

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Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb 1 (Reuters) – Airbus (AIR.PA) and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends with a $2 billion …

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Hindenburg bet against India’s Adani puzzles rival US short sellers

Feb 1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners to bet against companies there. Hindenburg’s house has been lucrative so far. Its allegations, which the …

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Wall Street down but off session lows after Fed rate hike, trading choppy

Fed raises interest rates, sees “ongoing increases” Indexes down: Dow 0.96%, S&P 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – US stock indexes were lower on Wednesday in choppy trade, bouncing off session lows hit when the Federal Reserve increased interest rates by a quarter of a percentage point and said it expects “ongoing increases” in …

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Exclusive: EV maker Rivian to cut 6% of jobs amid price war -internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching …

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