Category: 3. Business

  • Cutting Open RAN Funds Hurts U.S. Innovation and Helps China

    Cutting Open RAN Funds Hurts U.S. Innovation and Helps China

    Congress is on the verge of hamstringing a key tool in the fight against Chinese tech dominance. Today, Chinese companies, such as Huawei and ZTE, offer full-stack radio-access gear at basement prices, using global scale and unfair government policies to lock in carriers to unsecure equipment and steer emerging standards in Beijing’s favor.

    To counter this threat, technology companies are developing “Open Radio Access Network” (Open RAN) concepts that encourage interoperable interfaces for each RAN component so that mobile networks need not be beholden to any one RAN provider. In an Open RAN framework radios, base-band units, and software can mix and match across vendors—cutting costs, boosting innovation, and diluting single-supplier security risk. But Open RAN also presents technical challenges.

    The United States has been a leader in pushing the frontier of networking components and capabilities, including a $1.5 billion investment to create the Public Wireless Supply Chain Innovation Fund as part of the Chips and Science Act of 2022. The first two rounds have already obligated $550 million across 35 projects, building U.S. testbeds and prototypes. Round 3 drew more than 90 proposals and could award up to $450 million.

    But now, just as funding is rolling out to innovators, Congress is seeking to cut it off. A section of the Senate Commerce portion of the One Big Beautiful Bill Act cuts all the remaining funds for Open RAN innovation. This move would make the United States less innovative and less competitive in the fight against Chinese dominance over wireless communications. As Congress votes on amendments to the full bill it should remove this section of the Commerce Committee’s title to fully fund the Public Wireless Supply Chain Innovation Fund, not cut it off.

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  • Boeing recruits new CFO amid turnaround campaign – Financial Times

    Boeing recruits new CFO amid turnaround campaign – Financial Times

    1. Boeing recruits new CFO amid turnaround campaign  Financial Times
    2. Boeing Announces Chief Financial Officer Transition Plan  Boeing Newsroom
    3. Boeing appoints former Lockheed Martin CFO Jay Malave as new finance chief  Reuters
    4. Boeing Names Ex-Lockheed Martin Executive to Succeed CFO Brian West  WSJ
    5. Ex-Lockheed CFO Malave Heads To Boeing For Top Financial Job  Defense Daily

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  • US Consumer Health Resilient Amid Low Leverage, Stable Labor Market – Fitch Ratings

    1. US Consumer Health Resilient Amid Low Leverage, Stable Labor Market  Fitch Ratings
    2. Consumption: Strong Start to Cooldown  Morgan Stanley
    3. US consumers are cautious but still spending: Visa economist  iHeart
    4. Bracing for a Fed Pivot: How to Play the Consumer Spending Slump and Tariffflation  AInvest
    5. U.S. consumer is going to be squeezed by looming real-income shock, economist says  MarketWatch

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  • Wolfspeed Takes Next Step to Implement Restructuring Support Agreement and Proactively Strengthen Capital Structure – Business Wire

    1. Wolfspeed Takes Next Step to Implement Restructuring Support Agreement and Proactively Strengthen Capital Structure  Business Wire
    2. Chip Supplier Wolfspeed Agrees to Cut $4.6 Billion Debt in Bankruptcy  WSJ
    3. Struggling EV semiconductor company files for bankruptcy  TheStreet
    4. Wolfspeed plans US bankruptcy filing in deal reached with creditors  Reuters
    5. Struggling Semiconductor Firm Wolfspeed Files for Bankruptcy  Mint

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  • Daniel André Stieler – Vale

    Nomination of shareholder: 

    Board of Directors in other listed companies: 

    Skills, knowledge and expertise:  

    Main experience:
     

    Mr. Daniel André Stieler graduated in Accounting Sciences from the Universidade Federal de Santa Maria (“UFSM”) in 1989, completed a postgraduate course in Financial Administration at the Getúlio Vargas Foundation – FGV in 1998, an MBA in Auditing from FGV in 2000, and an MBA in Accounting from Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras (“FIPECAFI”) in 2003. He is ICSS-certified, with an emphasis on administration, and IBGC-certified in, as a fiscal director. He is Chairman (since April/2023) and Member (since November/2021) of Vale’s Board of Directors, Coordinator (since May/2023) and Member (since December/2022) of the Nomination and Governance Committee and Member of the Capital Allocation and Projects Committee (since May/2023).  

    His main professional experience in the last 5 (five) years:  

    (i) Coordinator of the Capital Allocation and Projects Committee (December/2022 to April/2023), Member (November/2021 to May/2022), and Coordinator of the Financial Committee (May/2022 to December/2022) and Member of the Nomination Committee (January/2022 to April/2022 and May/2022 to December/2022) of Vale; (ii) Member of the Fiscal Council of Braskem (since April/2024); (iii) President of Caixa de Previdência dos Funcionários do Banco do Brasil – PREVI (June/2021 to February/2023); (iv) Member of the Deliberative Board of Associação Brasileira das Entidades Fechadas de Previdência Complementar – ABRAPP (July/2021 to March/2023); (v) Member of the Board of Directors of Tupy S. A. (April/2022 to April/2023); (vi) Member of the Board of Directors of Alelo S.A. (April/2020 to April/2022); (vii) Member of the Board of Directors of Livelo S.A. (April/2020 to October/2021); (viii) Managing Director (January/2021 to June/2021), Chairman of the Deliberative Board (July/2020 to January/2021) and Member of the Fiscal Council (June/2016 to July/2020) of Economus Social Security Institute; (ix) Member of the Deliberative Board of the Corporate University of Complementary Pension – UniAbraap (February/2021 to June/2021); (x) Statutory Controllership Officer at Banco do Brasil S.A. (July/2019 to January/2021); and (xi) Member of the Fiscal Council of Eternit S.A. (March/2023 to March/2024). 

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  • Boeing appoints former Lockheed Martin CFO Jay Malave as new finance chief – Reuters

    1. Boeing appoints former Lockheed Martin CFO Jay Malave as new finance chief  Reuters
    2. Boeing Announces Chief Financial Officer Transition Plan  Boeing Newsroom
    3. Boeing Names Ex-Lockheed Martin Executive to Succeed CFO Brian West  WSJ
    4. Ex-Lockheed CFO Malave Heads To Boeing For Top Financial Job  Defense Daily
    5. Boeing to Replace CFO Brian West With Former Lockheed Finance Chief  Bloomberg.com

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  • US judge orders Argentina to transfer YPF oil stake to former shareholders – Financial Times

    US judge orders Argentina to transfer YPF oil stake to former shareholders – Financial Times

    1. US judge orders Argentina to transfer YPF oil stake to former shareholders  Financial Times
    2. Argentina Must Turn Over Its 51% Stake in YPF, US Judge Rules  Bloomberg.com
    3. Argentina asks UK court to pause enforcement in $16 billion oil company seizure case  Global Banking | Finance | Review
    4. US judge orders Argentina, facing $16.1 billion judgment, to give up YPF stake  Reuters
    5. Argentina Claims Sovereign Immunity In $16B Oil Biz Dispute  Law360

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  • FDA eliminates REMS for approved CAR-T therapies

    FDA eliminates REMS for approved CAR-T therapies

    FDA eliminates REMS for approved CAR-T therapies | RAPS

    Regulatory NewsBiologics/ biosimilars/ vaccinesBiotechnologyCBERHuman cells, tissues, and cellular and tissue-based products (HCT/Ps)Quality Assurance and ControlRegulatory Intelligence/PolicyREMSRisk managementUnited StatesUS Food and Drug Administration (FDA)

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  • Apple weighs using Anthropic or OpenAI to power Siri in major reversal, Bloomberg News reports – Reuters

    1. Apple weighs using Anthropic or OpenAI to power Siri in major reversal, Bloomberg News reports  Reuters
    2. Apple Weighs Using Anthropic or OpenAI to Power Siri in Major Reversal  Bloomberg.com
    3. Our Testing Found That Siri Is a Search Tool, Not an AI Assistant  Deepwater Asset Management
    4. Apple up 3% at 5-week high after report of ‘major reversal’ in Siri AI strategy  TipRanks
    5. Tech evolution: Did Apple blink or think different in the race for artificial intelligence?  Mint

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  • Microsoft says AI system better than doctors at diagnosing complex health conditions | Artificial intelligence (AI)

    Microsoft says AI system better than doctors at diagnosing complex health conditions | Artificial intelligence (AI)

    Microsoft has revealed details of an artificial intelligence system that performs better than human doctors at complex health diagnoses, creating a “path to medical superintelligence”.

    The company’s AI unit, which is led by the British tech pioneer Mustafa Suleyman, has developed a system that imitates a panel of expert physicians tackling “diagnostically complex and intellectually demanding” cases.

    Microsoft said that when paired with OpenAI’s advanced o3 AI model, its approach “solved” more than eight of 10 case studies specially chosen for the diagnostic challenge. When those case studies were tried on practising physicians – who had no access to colleagues, textbooks or chatbots – the accuracy rate was two out of 10.

    Microsoft said it was also a cheaper option than using human doctors because it was more efficient at ordering tests.

    Despite highlighting the potential cost savings from its research, Microsoft played down the job implications, saying it believed AI would complement doctors’ roles rather than replace them.

    “Their clinical roles are much broader than simply making a diagnosis. They need to navigate ambiguity and build trust with patients and their families in a way that AI isn’t set up to do,” the company wrote in a blogpost announcing the research, which is being submitted for peer review.

    However, using the slogan “path to medical superintelligence” raises the prospect of radical change in the healthcare market. While artificial general intelligence (AGI) refers to systems that match human cognitive abilities at any given task, superintelligence is an equally theoretical term referring to a system that exceeds human intellectual performance across the board.

    Suleyman, the chief executive of Microsoft AI, told the Guardian the system would be operating perfectly within the next decade.

    “It’s pretty clear that we are on a path to these systems getting almost error-free in the next 5-10 years. It will be a massive weight off the shoulders of all health systems around the world,” he said.

    Explaining the rationale behind the research, Microsoft raised doubt over AI’s ability to score exceptionally well in the United States Medical Licensing Examination, a key test for obtaining a medical licence in the US. It said the multiple-choice tests favoured memorising answers over deep understanding of a subject, which could help “overstate” the competence of an AI model.

    Microsoft said it was developing a system that, like a real-world clinician, takes step-by-step measures – such as asking specific questions and requesting diagnostic tests – to arrive at a final diagnosis. For instance, a patient with symptoms of a cough and fever may require blood tests and a chest X-ray before the doctor arrives at a diagnosis of pneumonia.

    The new Microsoft approach uses complex case studies from the New England Journal of Medicine (NEJM).

    Suleyman’s team transformed more than 300 of these studies into “interactive case challenges” that it used to test its approach. Microsoft’s approach used existing AI models, including those produced by ChatGPT’s developer, OpenAI, Mark Zuckerberg’s Meta, Anthropic, Elon Musk’s Grok and Google’s Gemini.

    Microsoft then used a bespoke, agent-like AI system called a “diagnostic orchestrator” to work with a given model on what tests to order and what the diagnosis might be. The orchestrator in effect imitates a panel of physicians, which then comes up with the diagnosis.

    Microsoft said that when paired with OpenAI’s advanced o3 model, it “solved” more than eight of 10 NEJM case studies – compared with a two out of 10 success rate for human doctors.

    Microsoft said its approach was able to wield a “breadth and depth of expertise” that went beyond individual physicians because it could span multiple medical disciplines.

    It added: “Scaling this level of reasoning – and beyond – has the potential to reshape healthcare. AI could empower patients to self-manage routine aspects of care and equip clinicians with advanced decision support for complex cases.”

    Microsoft acknowledged its work is not ready for clinical use. Further testing is needed on its “orchestrator” to assess its performance on more common symptoms, for instance.

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