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On August 13th, Reuters, citing sources, reported that Alphabet, the parent company of Google (GOOG.O), is undergoing a major leadership reshuffle at Google DeepMind, with some teams moving from DeepMind to the Google corporate system, further weakening DeepMinds autonomy. Sources said that Google co-founder Sergey Brin has been urging core AI employees in recent months to "fully commit" to the Gemini model and push for AI research in areas such as "recursive self-improvement." Following this reshuffle, DeepMind head Demis Hassabis will become chairman, with his deputy Kolai Kavukuoğlu taking over leadership responsibilities. Google stated that Kavukuoğlu will have final say on major decisions at DeepMind. Sources said that Google has postponed the release of the new flagship Gemini model by two months because internal testing showed it still lags behind competitors in areas such as programming. Analysts believe that Alphabets restructuring aims to accelerate AI commercialization and regain a competitive edge in model development, but some employees worry that DeepMinds long-term research autonomy may further decline.Yemeni Presidential Leadership Council Chairman Alimi: The Houthi movement in Yemen will not go unchallenged. There is no contradiction between the governments continued deterrence operations and its pursuit of peace.On August 13th, satellite imagery showed that for the first time in weeks, a very large crude carrier (VLCC) docked at the Al-Juama port near Rastanura, Saudi Arabias main export port in the Persian Gulf, indicating that Saudi Arabia is striving to maintain crude oil exports. However, shipping activity at Saudi ports remains affected by the war with Iran, the situation in the Strait of Hormuz, and the Houthi threat. As the worlds largest oil exporter, Saudi Arabia has recently shifted some of its crude oil shipments to the Red Sea port of Yanbu and exports to the Mediterranean via the Sumed pipeline. Meanwhile, activity at Yanbu port has decreased compared to before, with only three tankers currently observed docked, carrying approximately 3.4 million barrels of crude oil. Analysts believe that Saudi Arabias export routes are shifting from the traditional Bab el-Mandeb Strait to Asian markets to an alternative route via the Red Sea and connecting to the Suez Canal, in order to reduce regional security risks. Due to the disabling of automatic positioning systems on some tankers and the intervals in satellite observations, the actual scale of Saudi crude oil shipments is still difficult to fully confirm.Sources say that Google (GOOG.O) executives held an all-hands meeting last week to discuss restructuring of the artificial intelligence division in response to employee concerns.Sources say that Google (GOOG.O) co-founder Sergey Brin has been urging employees in recent months to focus on bringing the Gemini model back to the forefront of artificial intelligence.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.