Category: Articles of the week

English E-Zine

Articles of the Week 

Click on Continue Reading to open the full article.

To help you build your vocabulary just slide your cursor over the underlined word to have the French translation.

Click on Archives to open previous articles on Business, Management, Innovation & Lifestyle.

Bank survey shows Japan’s businesses turning pessimistic

natixis-ezine

Read time : 2 mins

Level : Intermediate

People walk at a pedestrian crossing in Ginza shopping district Friday, March 31, 2023, in Tokyo. Business sentiment among big Japanese manufacturers worsened in the first quarter of this year, marking the fifth straight decline, according to a closely watched central bank survey of business sentiments called “tankan.” (AP Photo/Eugene Hoshiko)

By YURI KAGEYAMA AP Business Writer

TOKYO (AP) — Business sentiment among big Japanese manufacturers worsened in the first quarter of this year in the fifth straight decline, according to a central bank survey released Monday.

The headline measure in the Bank of Japan quarterly survey called “tankan” found such sentiments stood at plus 1, down from plus 7 in December. It’s the worst quarterly result since December 2020.

Sentiments among major non-manufacturers rose one point to plus 20, its the fourth straight quarter of improvement.

The Japanese economy has tended to stagnate in recent years, with slow wage increases, and has recently been hit by inflationary pressures, even as some parts of the nation’s economy continue to experince deflation, the opposite trend in which prices continually decrease. Continue reading

The US leads the world in weather catastrophes. Here’s why

natixis-ezine

Read time : 3 mins

Level : Advanced

FILE – People walk through damage from a late-night tornado in Sullivan, Ind., April 1, 2023. (AP Photo/Doug McSchooler, File)

By SETH BORENSTEIN AP Science Writer

The United States is Earth’s punching bag for nasty weather.

Blame geography for the U.S. getting hit by stronger, costlier, more varied and frequent extreme weather than anywhere on the planet, several experts said. Two oceans, the Gulf of Mexico, the Rocky Mountains, jutting peninsulas like Florida, clashing storm fronts and the jet stream combine to naturally brew the nastiest of weather.

That’s only part of it. Nature dealt the United States a bad hand, but people have made it much worse by what, where and how we build, several experts told The Associated Press.

Then add climate change, and “buckle up. More extreme events are expected,” said Rick Spinrad, head of the National Oceanic and Atmospheric Administration. Continue reading

New Starbucks CEO plans to work in stores monthly

natixis-ezine

Read time : 3 mins

Level : Intermediate

FILE – Incoming CEO Laxman Narasimhan speaks during Starbucks Investor Day 2022, Sept. 13, 2022, in Seattle. Starbucks officially has a new CEO. The Seattle coffee giant said Monday, March 20, 2023 that Laxman Narasimhan has assumed the role of CEO and joined the company’s board of directors. (AP Photo/Stephen Brashear, file)

By DEE-ANN DURBIN AP Business Writer

Starbucks’ new CEO Laxman Narasimhan says he plans to work a half-day shift once a month in one of the company’s stores in an effort to stay close to its culture and customers.

Narasimhan, who took the reins as CEO earlier this week, said in a letter to Starbucks’ employees Thursday that he also expects the company’s leadership team to be connected and engaged in stores.

“While our performance is strong, our health needs to be stronger,” Narasimhan wrote in the letter. “We must care for the artists and the theater in the front of our stores and the factory in the back.” Continue reading

Deal to buy Silicon Valley Bank calms bank fears, for now

natixis-ezine

Read time : 3 mins

Level : Advanced

A First Citizens Bank sign is seen in Durham, North Carolina, on Monday March 27, 2023. North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. (AP Photo/Jonathan Drew)

By STAN CHOE AP Business Writer

NEW YORK (AP) — First Citizens Bank is buying much of Silicon Valley Bank, the tech-focused financial institution whose failure this month set off a chain reaction that helped rattle faith in banks around the world.

The Federal Deposit Insurance Corp. and other regulators had already taken extraordinary steps to head off a wider crisis by guaranteeing all depositors in SVB and another failed institution, Signature Bank, could get their money, even if they had more than the $250,000 limit insured by the FDIC.

The First Citizens deal announced late Sunday, at least initially, seemed to achieve what regulators have sought: a shoring up of trust in other regional banks across the country.

Stock prices strengthened for First Republic, PacWest Bancorp. and other banks that investors have spotlighted as most at risk for a sudden exodus of nervous customers, similar to the run that caused Silicon Valley Bank’s failure. Continue reading

Beyond the Screen: Traveling to TV-Inspired Destinations

natixis-ezine

Read time : 3 mins

Level : Intermediate

By Alexandrea Sumuel

Travelers are being inspired to visit destinations they have seen on screen. According to a travel trends report, 66% of travelers have considered trips to destinations based on a movie or TV show they’ve streamed. Thirty-nine percent already have their trips booked.

The travel trends report by Expedia also reported that advice from friends and family topped streaming services by only 2%. And with such a significant impact on travel decisions, tourism agencies are dedicating more of their advertising dollars to streaming services.

TV tourism is not a new trend. Some 96% of Americans report they’ve already visited places associated with their favorite TV show at least once in their lifetime. The same study revealed that 78% of Americans would likely go on a TV or movie-themed trip in 2023. Continue reading

Army of lobbyists helped water down banking regulations

natixis-ezine

Read time : 3 mins

Level : Advanced

FILE – The Silicon Valley Bank logo is seen at an open branch in Pasadena, Calif., on March 13, 2023. A handful of red state Democrats were instrumental helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018. Now those changes are being blamed for contributing to the recent collapse of Silicon Valley Bank and Signature Bank that prompted a federal rescue and stoked anxiety about a broader banking contagion. (AP Photo/Damian Dovarganes, File)

By BRIAN SLODYSKO and KEN SWEET Associated Press

WASHINGTON (AP) — It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party.

That unlikely coalition voted in 2018 to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis. But those changes are now are being blamed for contributing to the recent collapse of Silicon Valley Bank and Signature Bank that prompted a federal rescue and stoked anxiety about a broader banking contagion.

The rollback was was leveraged with a lobbying campaign that cost tens of millions of dollars and drew an army of hundreds of lobbyists into the effort. It also was seeded with ample campaign contributions.

The episode offers a fresh reminder of the power that bankers wield in Washington, where the industry spends prodigiously to fight regulation and often hires former members of Congress and their staff to make the case that they are not a source of risk to the economy. Continue reading

What can ChatGPT maker’s new AI model GPT-4 do?

natixis-ezine

Read time : 5 mins

Level : Intermediate

FILE – Text from the ChatGPT page of the OpenAI website is shown in this photo, in New York, Feb. 2, 2023. The company behind the ChatGPT chatbot has on Wednesday, March 15 rolled out its latest artificial intelligence model, GPT-4, in a new advance for the technology that’s caught the world’s attention. (AP Photo/Richard Drew, File)

By KELVIN CHAN AP Business Writer

LONDON (AP) — The company behind the ChatGPT chatbot has rolled out its latest artificial intelligence model, GPT-4, in the next step for a technology that’s caught the world’s attention.

The new system can figure out tax deductions and answer questions like a Shakespearan pirate, for example, but it still “hallucinates” facts and makes reasoning errors.

Here’s a look at San Francisco-based startup OpenAI’s latest improvement on the generative AI models that can spit out readable text and unique images:

WHAT’S NEW?

OpenAI says GPT-4 “exhibits human-level performance.” It’s much more reliable, creative and can handle “more nuanced instructions” than its predecessor system, GPT-3.5, which ChatGPT was built on, OpenAI said in its announcement.

In an online demo Tuesday, OpenAI President Greg Brockman ran through some scenarios that showed off GPT-4’s capabilities that appeared to show it’s a radical improvement on previous versions. Continue reading

Oil giant Saudi Aramco makes a historic $161B profit in 2022

natixis-ezine

Read time : 3 mins

Level : Advanced

FILE – Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Oil giant Saudi Aramco said Sunday, March 12, 2023, it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices.(AP Photo/Amr Nabil, File)

By JON GAMBRELL Associated Press

DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco reported Sunday earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists.

The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war on Ukraine in February 2022, with sanctions limiting the sale of Moscow’s oil and natural gas in Western markets.

Aramco also hopes to increase its production to take advantage of market demand as China reenters the global market after lifting its coronavirus restrictions. That could raise the billions needed to pay for Crown Prince Mohammed bin Salman’s plans to develop futuristic cityscapes to pivot Saudi Arabia away from oil. Continue reading

Tesla price cuts: Flagging demand or tactic to boost sales?

natixis-ezine

Read time : 4 mins

Level : Intermediate

FILE – A Tesla logo is seen on a vehicle on display in Austin, Texas, Wednesday, Feb. 22, 2023. On Wednesday, March 1, Tesla executives said the company will use innovative manufacturing techniques and smaller factories to cut the cost of its next generation of vehicles by as much as half of the ones it now builds. (AP Photo/Eric Gay, File)

By TOM KRISHER AP Auto Writer

DETROIT (AP) — In explaining why Tesla Inc. keeps cutting prices on its electric vehicles, the auto industry is pretty much divided into two camps.

On one side are analysts who see an aggressive move by the leading manufacturer of EVs to gobble up sales and market share from its competitors just as they’re beginning to bring more vehicles to market.

On the other side are critics who argue that with demand for Tesla’s older vehicles beginning to wane, the company feels forced to slash prices to attract buyers.

Over the weekend, Tesla cut the prices of its two costliest vehicles, from $5,000 to $10,000, or from 4.3% to just over 9%. A Model S two-motor sedan now starts at $89,990, with the Plaid “performance” version beginning at $109,990. A Model X SUV dual motor starts at $99,990, the performance version at $109,990. Continue reading

In Britain, ‘warm hubs’ emerge to beat soaring energy costs

natixis-ezine

Read time : 3 mins

Level : Advanced

Anne Bolger, right, works at the Other Place theater, in Stratford-upon-Avon, Warwickshire, England, Tuesday, Feb. 28, 2023. The foyer of the Other Place theater in Shakespeare’s birthplace of Stratford-upon-Avon is a cozy refuge from winter. One day a week the theater becomes a “warm hub,” set up by the Royal Shakespeare Company to welcome people who may be struggling to heat their homes because of sky-high energy prices. (AP Photo/Kin Cheung)

By JILL LAWLESS Associated Press

STRATFORD-UPON-AVON, England (AP) — On a blustery late-winter day in Shakespeare’s birthplace, the foyer of the Other Place theater is a cozy refuge. Visitors are having meetings over coffee, checking emails, writing poetry, learning to sew.

It looks and feels like an arty café in the pictureque streets of Stratford-upon-Avon, but it’s a “warm hub” set up by the Royal Shakespeare Company drama troupe to welcome people struggling to heat their homes because of sky-high energy prices.

Warm hubs have sprouted across Britain by the thousands this winter as soaring food and energy prices drive millions to turn down the thermostat or skimp on hot meals. Research by the opposition Labour Party counted almost 13,000 such hubs, funded by a mix of charities, community groups and the government and nestled in libraries, churches, community centers and even a tearoom at King Charles III’s Highgrove country estate. Continue reading