Sunday☕️

Time Is Money

Nov 26, 2023 • 7 min read

Trending:

Israel & Hamas’s Ceasefire
Black Friday Sales

Week Recap:

Alibaba, a leading Chinese e-commerce company, has reversed its decision to separate its cloud service division and make it public. The company attributes this decision to U.S. restrictions on Chinese exports of semiconductor technology. These curbs impact China’s artificial intelligence applications and have raised concerns about Alibaba's ability to upgrade its hardware.
Truepill, an online pharmacy service also known as Postmeds, has reported a data breach affecting over 2.3 million patients. This breach compromised personal details including patient names, types of medication, and in some cases, demographic data and prescribing doctors' names. The company began notifying affected patients on October 30.
In Argentina's presidential election, Javier Milei, who identifies as an anarcho-capitalist and libertarian economist, emerged victorious. His win comes at a time when Argentina is grappling with significant economic challenges, including a staggering 142% inflation rate and about 40% of its population living in poverty.
Israel and Hamas have reached an agreement to release hostages, with Israel freeing 150 Palestinians from jail in exchange for 50 women and children hostages held in Gaza. This agreement is part of a four-day ceasefire, announced on Wednesday, with the potential for extension based on the number of additional hostages released.
Changpeng Zhao, CEO of Binance, the world's largest cryptocurrency exchange, has agreed to a $4 billion settlement with U.S. authorities, resolving a prolonged investigation into violations of anti-money laundering laws. As part of the settlement, Zhao will plead guilty to these violations in a Seattle federal court, step down as CEO, and pay substantial fines to various U.S. Treasury units.
Sam Altman has returned as the CEO of OpenAI following a significant shakeup within the organization. Last week, Altman was unexpectedly ousted from his role by the board of OpenAI, a decision that led him to join Microsoft briefly. This move came as a shock to OpenAI's staff and investors, sparking a strong demand for his reinstatement. In response to the widespread discontent, with 95% of OpenAI's staff threatening to resign unless Altman was brought back, the company decided to reinstate him. Alongside Altman's return, OpenAI will undergo a major board restructuring.
Nvidia reported fiscal third-quarter results surpassing Wall Street predictions. Despite these strong results, Nvidia is anticipating a decrease in sales for the next quarter due to export restrictions affecting business in China and other regions. For the quarter, Nvidia's revenue saw a significant increase, reaching $18.12 billion. The company's net income also rose notably to $9.24 billion.
At the season-ending Abu Dhabi Grand Prix, Formula One is testing artificial intelligence (AI) to address track limit violations. The FIA, Formula One's governing body, is utilizing 'Computer Vision' technology for this trial. This technology analyzes the shape and number of pixels crossing the track's edge, aiding in identifying genuine breaches where drivers cross the white line with all four wheels.
Palantir, a U.S.-based data analytics company, has won a contract from NHS England valued at approximately £330 million for the development of a new patient data platform. This platform, named the Federated Data Platform, aims to streamline staff access to patient data to enhance care quality and timeliness. Scheduled to launch next year, the platform will integrate various existing patient data sets.
Hamas released 24 Israeli hostages, marking a significant diplomatic development following seven weeks of conflict in Gaza. This step is part of a broader deal facilitated by Qatar, Egypt, and the U.S., aiming to sustain the current fragile ceasefire. The release brought relief to the families of the hostages, who had been anxiously awaiting their return since they were captured during an attack by Hamas and other Palestinian factions on October 7, resulting in numerous casualties. In exchange, Israel freed 39 Palestinian prisoners, including women and teenagers.
Nissan Motor is significantly boosting its investment in the electric vehicle (EV) and battery sector in the United Kingdom, committing up to 3.0 billion pounds (around $2.39 billion). This investment aims to expand its EV manufacturing capabilities, including the addition of a third gigafactory and the production of two new models at its Sunderland EV hub.

Israel & Hamas’s Ceasefire:

During the second day of a ceasefire in Gaza, Hamas released an additional 13 Israeli hostages and four foreign nationals. This release, confirmed by Qatar's foreign ministry, keeps the fragile ceasefire agreement on track. The hostages were handed over to the International Committee of the Red Cross and transferred to the Rafah border crossing with Egypt.
The exchange is part of a broader deal brokered by Qatar and Egypt, with assistance from the U.S. It includes the release of 39 Palestinian civilians from Israeli prisons. Among the Israeli hostages were eight children and five women. The Palestinians released were mainly children and women.
The U.S. President Joe Biden had discussions with the Qatar Emir about the temporary delay in the hostage release, which was resolved through diplomatic efforts. The ceasefire agreement stipulates the release of 50 hostages over four days in exchange for 150 Palestinian prisoners. The truce, which marks the first break in seven weeks of conflict, began at 7 a.m. local time on Friday.
Despite initial disputes over the truce's terms, particularly regarding aid supply to northern Gaza and the release of Palestinian prisoners, the agreement was eventually upheld. The deal has brought relief to families, contrasting with scenes of distress and raids related to prisoner releases. The ceasefire could be extended if more hostages are released.

Black Friday Sales:

On Black Friday, online sales in the U.S. hit a record of $9.8 billion, showing a 7.5% increase from last year. This growth was driven by deep discounts and flexible payment options. The figures not only surpassed the sales on Thanksgiving Day, which amounted to $5.6 billion, but also exceeded the $9.6 billion sales prediction by Adobe Analytics for Black Friday.
According to Salesforce, which analyzes sales data differently from Adobe, Black Friday's online sales in the U.S. reached $16.4 billion. This is part of a global total of $70.9 billion. Moreover, a significant 79% of all online shopping, including browsing and buying, was done through mobile devices.
Black Friday is traditionally seen as the start of the holiday shopping season, a crucial period for retailers. This year's record sales came as a positive surprise, especially considering the overall slow growth in retail sales. As reported by the U.S. Census Bureau, retail sales only grew by 2.3% in the last quarter compared to the same period the previous year. In contrast, e-commerce, which makes up about 15% of all sales, is growing faster, with a 7% increase in the last quarter.

Statistic: