Today's briefing. Google Vs Microsoft, 2nd Chinese balloon, Stock flew 92%
More Spy balloon in Trump Admin, 2nd spy balloon, BBBY stock raise up 92%, Binance US stop, Microsoft ChatGPT vs Google Brad.
02/06/2023
Monday
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POLITICS
Top general says Trump-era spy balloons flew over the U.S. undetected
The military did not detect previous flights of Chinese spy balloons over the U.S. that took place during the Trump administration, Gen. Glen VanHerck, head of North American Aerospace Defense Command, cited the issue as the reason that at least three spy balloon flights were not briefed to senior Trump officials at the time.
China Confirms Second Balloon Over Latin America
Pentagon officials over the weekend said the second balloon was seen transiting across Central and South America and characterized it as a fleet of surveillance balloons operated by China.
Chinese Foreign Ministry spokeswoman Mao Ning on Monday described the balloon over Latin America as an unmanned airship for research purposes that had been blown off course by bad weather—an explanation virtually identical to the one-China gave for the balloon that flew over the U.S. Beijing has pledged to protect the rights of a Chinese company involved in the U.S. incident, although it hasn’t identified that company.
Fearing an explosion, officials release toxic chemical after Ohio train derailment
Officials on Monday completed the release of toxic chemicals that had been carried on a train that derailed over the weekend in eastern Ohio. Officials had warned that the chemical could be deadly if inhaled.
BUSINESS
CVS Nearing $10.5 Billion Deal for Primary-Care Provider Oak Street Health
CVS is close to an agreement to acquire Oak Street Health Inc. red down-pointing triangle for about $10.5 billion including debt, a deal that would rapidly expand the big healthcare company’s footprint of primary-care doctors with a large network of senior-focused clinics, according to people with knowledge of the matter.
Read more… (link of the official source)
Bed Bath & Beyond reportedly raises $1 billion in the stock deal to get out of loan default
Bed Bath & Beyond Inc. led a revenge of the meme stocks Monday, with shares rallying 92%, but the stock turned around hard in after-hours trading as executives announced plans to sell convertible shares to get out of loan default and stave off bankruptcy.
TECHNOLOGY
Crypto exchange Binance will suspend U.S. dollar transfers
Binance will suspend U.S. dollar deposits and withdrawals, the company said Monday, without providing a reason for the decision.
“We are temporarily suspending USD bank transfers as of February 8th,” a Binance spokesperson told CNBC. “Affected customers are being notified directly.” The company said “0.01% of our monthly active users leverage USD bank transfers” and added that “we are working hard to restart service as soon as possible.”
Google launching its own artificial intelligence bot, known as Bard
In a blog post-Monday, the California-based company says it will soon give a select number of "trusted testers" access to the artificial intelligence prototype it has been working on in some form for the last six years.
The company says it plans to make the service "more widely available to the public in the coming weeks."