Tuesday☕️

Apr 18, 2023 • 4 min read

Trending:

Markets/Economies:

Apple Savings:

Apple introduced the Apple Card savings account, offering a 4.15% annual percentage yield (APY) with no minimum deposit or balance required.
Users can create an account via the Wallet app on their iPhones. Daily Cash rewards from the Apple Card will be automatically deposited into the savings account, and users can adjust the deposit settings or add funds from their bank accounts.
The Apple Card savings account, launched in partnership with Goldman Sachs, offers a significantly higher APY than the national average of 0.35%.
With a 4.15% APY and no minimum deposit or balance required, Apple's savings account stands out as a competitive option in the financial market.

AI CFO:

Denver-based software company Sturppy introduced ChatCFO, a ChatGPT-4 tool integrated into their Sturppy Plus FP&A platform. In alpha testing, this AI chatbot uses natural language processing to analyze financial data and functions as a 24/7 AI-based CFO.
Glenn Hopper, director at Eventus Advisory Group, described ChatCFO as a pioneering AI chatbot in finance. Although not yet as capable as a human CFO or junior analyst, it represents the beginning of AI's integration into finance roles.
As finance-focused AI chatbots like ChatCFO emerge, questions arise about how financial professionals should adapt and prepare for the changes this technology will introduce.

Income-Based Electricity:

California's top three power companies have suggested income-based electricity fees. Typically, U.S. utilities charge customers based on their electricity usage measured in kilowatt-hours.
However, California recently passed a law requiring a fixed monthly rate. The proposed plan splits households into four income groups below:
$0-$28,000, $28,000-$69,000, $69,000-$180,000, and above $180,000. Monthly fees would range from $15 to $128, depending on income and location.

Business:

Walmart revealed plans to significantly grow its EV charging network by installing chargers at thousands of Walmart and Sam's Club locations across the U.S. by 2030. This expansion builds on Walmart's existing network of approximately 1,300 EV charging stations at 280 facilities nationwide.

Statistic:

A modern fighter jet requires around 24 million lines of code to function, as highlighted by a recent strategic partnership announcement between BAE Systems and Microsoft's Azure Cloud.

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