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OpenAI Discontinues Support for Sora, Winds Down Disney Deal
OpenAI plans to discontinue its Sora AI video generator six months after the high-profile launch of a standalone app for the service, as the company works to simplify its portfolio of artificial intelligence products. The ChatGPT maker and Walt Disney Co. are also winding down their partnership, which had centered on Sora, OpenAI said Tuesday. Disney had previously agreed to license iconic charact
US Insists Talks Ongoing Even as Iran Rejects Trump Outreach
The White House insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets. “The United States has been engaged over the last three days in productive conversations,” White House Press Secretary Karoline Leavitt told reporters on Wednesday. “
BlackRock's Rieder Renews Call for Rate Cuts
BlackRock Inc.'s Rick Rieder says the Federal Reserve should cut interest rates, renewing his call for looser monetary policy. He speaks with Bloomberg's Julie Fine in Dallas. (Source: Bloomberg)
Janus Henderson Boosts Loan, Scraps Junk Bond Tied to Buyout
Banks led by JPMorgan Chase & Co. boosted a junk loan to support the purchase of Janus Henderson Group Plc by Nelson Peltz’s Trian Fund Management and General Catalyst to $2.6 billion after scrapping a planned bond sale amid volatile markets.
Is SpaceX Worth $1.75 Trillion? Key Questions for Musk’s Big IPO
In the seven and a half years since Apple Inc.’s market capitalization broke through the $1 trillion mark, investors have become accustomed to seeing big tech companies command 13-digit valuations in public markets.
Miran Says Fed Policy Is Holding the Economy Back
Federal Reserve Governor Stephen Miran says he doesn't think Fed policy needs to be "slamming on the gas" to accelerate the economy but also doesn't need to be holding the economy back during remarks at the Digital Asset Summit in New York. (Source: Bloomberg)
War a Multi-Phase Market Event: S&P Global Energy Pres.
S&P Global Energy President Dave Ernsberger discusses the 'massive but delayed' effects the war in Iran is having on the global energy market, saying that physical markets are bearing the brunt now, but futures markets will start feeling the pressure next. He talks with Romaine Bostick and Katie Greifeld on "The Close." (Source: Bloomberg)
White House Insists Talks Are Ongoing With Iran
The White House says peace talks with Iran are ongoing, but Tehran says that's not the case. Bloomberg's Michelle Jamrisko reports. (Source: Bloomberg)
BMO's McCormick: Dollar is 'Absolutely' a Buy on Dips
BMO Chief FX Strategist Mark McCormick discusses the merits of staying long on the US Dollar, citing carry, growth, and safe-haven demand. He talks with Katie Greifeld and Romaine Bostick on "The Close." (Source: Bloomberg)
Epstein 'Wasting My Time' From The Grave, Says Apollo's Rowan
Apollo Global Management CEO Marc Rowan said he only dealt with Jeffrey Epstein in his capacity as tax adviser for the firm’s co-founder Leon Black. Also at Bloomberg Invest on March 3, Rowan reiterated that Apollo did no business with the sex offender. (Source: Bloomberg)
IMF Runs Scenarios on Which Nations May Need Aid Due to Iran War
The International Monetary Fund is running scenarios on countries to gauge which economies could be in need of fresh financing if the Iran war drags on, according to people familiar with the matter.
Stocks Rise as Truce Prospects Weighed | Closing Bell
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. (Source: Bloomberg)