
OpenAI executives have discussed accusing Microsoft of anticompetitive behavior, WSJ reports
Executives at OpenAI have discussed accusing the company's major backer, Microsoft, of anticompetitive behavior during their partnership, the Wall Street Journal reported on Monday, citing people familiar with the matter.
OpenAI's effort could involve seeking a federal regulatory review of the terms of its contract with Microsoft for potential violations of antitrust law, as well as a public campaign, the report said.
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Money Talks - When to get the best exchange rates for foreign currencies
Money Talks Play If the US dollar weakens against the Singdollar, should you buy it even if you're not traveling to the US anytime soon? And what happens if the rate drops drastically? In this week's Money Talks episode, Khoon Goh, head of Asia research for ANZ gives a run down the basics of currency exchange.


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an hour ago
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Money Talks Podcast: When to get the best exchange rates for foreign currencies
If the US dollar weakens against the Singdollar, should you buy it even if you're not traveling to the US anytime soon? And what happens if the rate drops drastically? In this week's Money Talks episode, Khoon Goh, head of Asia research for ANZ gives a run down the basics of currency exchange. Here is an excerpt from the conversation: Andrea Heng, host: One of our guests in a previous Money Talks episode told us that when he saw the Japanese yen dropping, he immediately went and changed a large sum of money and kept it in his multi-currency app. What are the pros and cons of doing this? Khoon Goh, head of Asia research for ANZ: It makes sense to look at a very favourable rate, particularly if a trip is coming up, and you know you're going to utilise that. So it makes sense to convert ... But the downside is that potentially that rate could get even better. Secondly, in terms of these multi-currency wallets, bear in mind you're not actually earning any interest when you convert into it. If you still retain your Sing dollars in your savings account, at least you're earning something, not much, but at least something. So there is that opportunity cost of lost interest that has to be borne. It's not going to be a large amount obviously, but it's really around the potential for the rates getting better. So if you're converting, say, the whole amount, then you're missing out on any potential better rates. But on the other hand, it could also revert, and therefore in my mind, let's not have any regrets, because whatever rate that you are changing is obviously a rate that you're happy with, and you're going to spend that amount anyway. Andrea: But that's the thing, right? I've always often wondered, when do you know it's a good time to change? Is it when everyone goes: 'Hey, the US dollar has come down. I think better change now.' Or is there something that we can refer to as a gauge? Khoon: There's a lot of things that affect currency movements, but if you're already committed, or you've already made a decision to travel or go on a holiday to a certain destination, then even a two to five per cent currency move is not going to be material.
Business Times
2 hours ago
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OpenAI executives have discussed accusing Microsoft of anticompetitive behavior: WSJ
EXECUTIVES at OpenAI have discussed accusing the company's major backer, Microsoft, of anticompetitive behaviour during their partnership, the Wall Street Journal reported on Monday, citing people familiar with the matter. OpenAI's effort could involve seeking a federal regulatory review of the terms of its contract with Microsoft for potential violations of antitrust law, as well as a public campaign, the report said. Such a move could unravel one of the most pivotal tech partnerships in the fast-growing field of artificial intelligence. OpenAI needs Microsoft's approval to complete its transition into a public-benefit corporation. But the two have not been able to agree on details even after months of negotiations, sources said. The companies are discussing revising the terms of Microsoft's investment, including the future equity stake it will hold in OpenAI, according to the sources. 'Talks are ongoing and we are optimistic we will continue to build together for years to come,' representatives for the two companies told the WSJ in a joint statement. They did not immediately respond to Reuters requests for comment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Microsoft invested US$1 billion in OpenAI in 2019 to support the startup's development of AI technologies on its Azure cloud platform. The early bet gave it a front-row seat in the AI race and helped propel both companies to the forefront of the industry. Since then, however, OpenAI has been looking for ways to reduce its reliance on the tech heavyweight. The company plans to add Alphabet's Google Cloud service to meet its growing needs for computing capacity, Reuters reported earlier this month. Microsoft has also been laying the groundwork for greater independence. It has been working on adding internal and third-party AI models to power its flagship AI product, Microsoft 365 Copilot, which relies heavily on OpenAI, Reuters reported last year. Previous regulatory concerns have already prompted Microsoft to make concessions. Last year, it gave up its board observer seat at OpenAI to address antitrust scrutiny in the US and the UK over its influence on the startup. REUTERS