San Francisco Financial News

San Francisco Federal Reserve Bank President Mary Daly said on Monday there is no urgency to cut U.S. interest rates, with the economy and labor market strong, and inflation still above the Fed's 2% target. «The worst thing to do is act urgently when urgency is not required,» Daly said at the Stanford Institute for Economic Policy Research. Daly is one of 19 U.S. central bankers who set U.S. monetary policy.

Salesforce is in advanced talks to acquire data-management software provider Informatica, the Wall Street Journal reported on Friday, citing people familiar with the matter. The price of the deal being discussed is below Informatica's current stock price of $38.48, which is a potential complication factor, the Journal said.

GPT-4 Turbo is now available to paid ChatGPT users. We’ve improved capabilities in writing, math, logical reasoning, and coding" The company also stated that the GPT-4 Turbo update will lead to ChatGPT responses becoming “more direct, less verbose, and use more conversational language." Moreover, ChatGPT with GPT-4 Turbo has been trained on data up to April 2024, a major upgrade over its previous iteration which was only updated till April 2023.

tech companies in the US added an estimated 6,000 workers last month. Indian IT giants have established a robust presence in the US, with Tata Consultancy Services (TCS) employing 50,000 people, Infosys 35,000, HCL Technologies 24,000, Wipro 20,000, and LTI Mindtree 6,500. Together, these companies contribute around 2% to the US tech industry workforce, as per an HDFC Securities report. The widespread presence of these firms across various US locations positions them advantageously for the ongoing demand recovery. The surge in job growth has been primarily driven by hiring in technology services, software development, and cloud infrastructure. In March, US employers posted 191,000 new job openings for tech positions, marking an increase of 8,000 from the previous month and the highest volume since August 2023.

Amazon is adding artificial intelligence visionary Andrew Ng (EE-ng) to its board of directors

Oakland's airport is considering a name-change to include “San Francisco” to attract more passengers

The California homeless charity that received $53 million over the years from investors who wanted a private lunch with billionaire Warren Buffett has found a new business executive to auction off a meal with

Artificial intelligence firm Sapien AI has raised $5 million in a seed funding round with participation from Primitive Ventures, Animoca Ventures, Ravikant Capital, and Yield Guild Games.

Tesla has settled a lawsuit brought by the family of a Silicon Valley engineer who died in a crash while relying on the company’s semi-autonomous driving software

A Senate subcommittee has opened an investigation into the safety of Boeing jetliners, intensifying concerns about the airworthiness of the company’s aircraft

General Motors’ Cruise subsidiary will be restarting its manual driving to create maps and gather road information in select cities as the robotaxi service looks to resume driverless operations

Marc Benioff. The San Francisco-based charity helps the homeless and those in poverty in the same city where Benioff oversees a software empire. The final auction of a lunch with Buffett two years ago attracted a record $19 million price that isn't likely to be matched.

California-based 99 Cents Only Stores says it will close all 371 of its outlets effective Friday

The Rafaels co-owner and Vice President David Rafael argues San Franciscos progressive ideology creates crime and brings in the homeless on Varney & Co.

Both Citi and Barclays may have been seen recently trimming headcount across their investment banks, but Barclays is also hiring. Its new recruits include a Morten Eikebu, who is fresh from a 15 and a half year stint at Citi in London.

Elon Musk revealed Friday that Tesla will pull back the curtain on a robotaxi this summer, news that comes as the adoption of self-driving vehicles hits speed bumps over safety concerns. The billionaire boss of the electric car maker did not provide details, saying only in his post on X that the "Tesla Robotaxi unveil" will come on August 8.

OpenAI is aiming to use its popular chatbot ChatGPT—it said 600,000 individuals pay for business versions of it—as a way to gain an entry into businesses and sell them its enterprise artificial-intelligence services. Those individuals are paying for ChatGPT Enterprise or ChatGPT Team, which make up what OpenAI calls its “business products," according to OpenAI Chief Operating Officer Brad Lightcap.

Reuters as saying. The earthquake centred near Whitehouse Station, was reportedly the third largest in the last 50 years and the 10th-strongest of all time in the Northeast. According to the data cited by CNN, the largest earthquake of 5.3 magnitude quake took place in Au Sable Forks, New York, in 2002.

Circle Squared Alternative Investments founder Jeff Sica discusses the DOJ antitrust lawsuit against Apple that claims the tech giant monopolized smartphone markets, on 'Varney & Co.' 

An environmental group is challenging the U.S. Energy Department's decision to award over $1 billion to help keep California’s last nuclear power plant running beyond 2025

Daily lives are noisier than ever, and many travelers are seeking relief in silence