🐳 WhalePool Traders Journal

The boom in artificial intelligence will increase banks' dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said. Excitement around using artificial intelligence (AI) in financial services - widely used already for detecting fraud and money-laundering - has soared since the launch of OpenAI's viral chatbot ChatGPT in late 2022 as banks examine ways to deploy generative AI. But at a gathering of fintech executives in Amsterdam this week, some expressed concerns that the amount of computing power needed to develop AI capabilities would make banks rely even more on small number of tech providers.

(Bloomberg) -- Foreigners’ short positions in Indian stocks held near a record high, underscoring continued caution even after Prime Minister Narendra Modi won crucial backing from allies to form a government. Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansVietnam Tycoon Sentenced to Death Faces New Charges: MediaBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Struggling Busi

(Bloomberg) -- Going against the tide and still winning has worked for Dmitry Solomakhin, a Fidelity International Ltd. fund manager. His next bet is on stocks that have been crushed by the rise of artificial intelligence.Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansVietnam Tycoon Sentenced to Death Faces New Charges: MediaBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Str

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co.’s May sales rose 30% to NT$229.6 billion ($7.1 billion), helped by booming demand for artificial intelligence and a recovery in some consumer electronics.Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansVietnam Tycoon Sentenced to Death Faces New Charges: MediaBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Struggling Busine

The lawmakers called for CATL and Gotion, which have ties to Ford and Volkswagen, to be added to what is known as the entity list under the Uyghur Forced Labor Prevention Act, the report said. In an emailed statement to Reuters, Gotion said any allegation the company "uses or is related to forced labor is baseless and absolutely false,", adding the selection of partners is based on "strict review mechanisms and evaluation criteria."

(Bloomberg) -- Hong Kong plans to stop shutting the stock market during severe weather as soon as September to allow trading in such conditions like in other advanced economies, according to people familiar of the matter.Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansVietnam Tycoon Sentenced to Death Faces New Charges: MediaBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Stru

(Bloomberg) -- India’s top money managers, overseeing nearly $120 billion of equity assets, are now favoring shares of large firms with strong fundamentals as this week’s election upset dims the appeal of past winners with sky-high valuations.Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansVietnam Tycoon Sentenced to Death Faces New Charges: MediaBillionaire-Friendly Modi Humbled by Indians W

(Bloomberg) -- China’s exports jumped more than expected in May, boosting the growth outlook in the world’s second-biggest economy.Most Read from BloombergBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansVietnam Tycoon Sentenced to Death Faces New Charges: MediaBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Struggling Business Park Deals a Blow to Singapore's Regional Hub AmbitionsExports rose 7.6% i