The failures of Silicon Valley Bank (SVB), Silvergate, and Signature Bank last week served as stark reminders of the banking sector’s vulnerability to rising interest rates and a fragile economy. However, community banks in the country are trying to reassure in general that the overall health of regional banks remains strong. The Independent Community Bankers of America (ICBA),…
Small Banks in Good Shape Despite SVB Collapse, Says Community Bankers of America
New AI Chatbot Released That Can See Images, Produce More Advanced Responses
The artificial intelligence firm OpenAI has released the latest version of its GPT chatbot, which the firm says includes the ability to respond to image prompts. On Tuesday, OpenAI announced that it was rolling out the new chat bot, known as GPT-4. In a blog post previewing the new program, OpenAI touted GPT-4’s ability to…
Honda Recalling 500,000 Vehicles to Fix Seat Belt Problem
DETROIT—Honda is recalling a half-million vehicles in the U.S. and Canada because the front seat belts may not latch properly. The recall covers some of the automaker’s top-selling models including the 2017 through 2020 CR-V, the 2018 and 2019 Accord, the 2018 through 2020 Odyssey, and the 2019 Insight. Also included is the Acura RDX…
H&M Slips Out of Fashion as 1st-Quarter Sales Lag
STOCKHOLM—H&M, the world’s second-biggest fashion retailer, reported on Wednesday a smaller-than-expected increase in sales in the latest sign it is struggling to compete with Zara-owner Inditex. Shares in H&M were down 6 percent in early trade, underperforming the wider Swedish market. The Swedish group said sales measured in local currencies for the period, its fiscal…
Samsung to Invest $300 Billion in Construction of South Korean Chip Center
Samsung Electronics will invest 300 trillion won ($227 billion) over the next 20 years to build five new chip plants in South Korea as part of the government’s goal to establish “the world’s largest” chip center by 2042. The plans were unveiled by the South Korean Ministry of Trade, Industry, and Energy on March 15….
Investor Carl Icahn Issues Grim Warning on US Economy ‘Breaking Down’
Billionaire investor Carl Icahn said that the U.S. economy is at a breaking point, blaming “worse than mediocre” leadership and warning that soaring inflation threatens to topple America’s position on the world stage. Icahn made the remarks during an interview on CNBC’s “Closing Bell” program on Tuesday. “The system is breaking down, and we absolutely…
Investor Carl Icahn Issues Grim Warning on US Economy
Billionaire investor Carl Icahn said that the U.S. economy is at a breaking point, blaming “worse than mediocre” leadership and warning that soaring inflation threatens to topple America’s position on the world stage. Icahn made the remarks during an interview on CNBC’s “Closing Bell” program on Tuesday. “The system is breaking down, and we absolutely…
Illinois Businesses Must Give Workers Time Off ‘For Any Reason’
March 15, 2023
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Illinois has passed a law ordering businesses to give workers paid leave for any reason. The state becomes one of three that requires employers to offer the generous leave benefits, after Governor J.B. Pritzker signed the law on Mar. 14, which will take effect next year on Jan. 1, reported the Associated Press. “Too many…
Wall Street Opens Lower as Credit Suisse Renews Bank Worries
Wall Street’s main indexes opened lower on Wednesday as turbulence at Credit Suisse renewed fears of a banking crisis, while U.S. economic data kept alive hopes of a less aggressive monetary policy move by the Federal Reserve next week. The Dow Jones Industrial Average fell 395.53 points, or 1.23 percent, at the open to 31,759.87….
Major Drugmaker to Drastically Reduce Insulin Prices in United States
March 15, 2023
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affordable insulinBusiness & MarketsCompaniesHealth & SafetyinsulinLifestyleSocial Issuestype 1 diabetestype 2 diabetesUSUS News
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Drugmaker Novo Nordisk has announced that it will significantly reduce insulin prices in the United States beginning next year—a relief for Americans struggling with high prices. Denmark-based Novo Nordisk will lower U.S. prices of several pre-filled insulin pens and vials by up to 75 percent for people living with Type 1 and Type 2 diabetes,…
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