Author: Daniel snow

Wall Street, Manhattan, New YorkAndrey Denisyuk | Moment | Getty ImagesIn the feverish race to adopt artificial intelligence, the financial world stands at a critical juncture. The allure of general-purpose AI, the kind championed by tech giants, is undeniable. But for finance, a realm of intricate regulations and specialized jargon, this approach is a dangerous mirage.It’s time for a reality check: finance needs its own AI, not a one-size-fits-all solution.The idea that a generalized large language model (LLM) can seamlessly navigate the complexities of wealth management, asset management, or insurance is fundamentally flawed. These are domains with their own jargon,…

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FanDuel is upping the ante in Illinois with a new 50-cent surcharge on all wagers, and DraftKings may be next.Flutter-owned FanDuel is introducing the charge to mitigate the impact of new taxes that the state instituted with its new budget, which disproportionately affect the two leading sportsbooks.The new tax is applied to each wager that a sportsbook accepts — 25 cents per bet for the first 20 million wagers, 50 cents per wager after that.”Should the state reverse its decision at any point in the future, FanDuel will immediately remove the $0.50 transaction fee,” Flutter said in a press release.DraftKings…

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U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr. leaves the stage after discussing the findings of the Centers for Disease Control and Prevention’s (CDC) latest Autism and Developmental Disabilities Monitoring (ADDM) Network survey, at the Department of Health and Human Services in Washington, D.C., U.S., April 16, 2025. Elizabeth Frantz | ReutersHealth and Human Services Secretary Robert F. Kennedy Jr. has gutted a key government panel of vaccine advisors, saying he wants to “re-establish public confidence” in shots.Some health policy experts say firing the committee members will do the opposite. “Rather than restoring public trust, his actions are…

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Cargo shipping containers are loaded with cranes on container ships at the Burchardkai container terminal at the harbour of Hamburg, northern Germany, on June 3, 2025.Fabian Bimmer | Afp | Getty ImagesThe World Bank sharply cut its global economic growth projections Tuesday, citing disruption from trade uncertainty in particular.It now expects the global economy to expand by 2.3% in 2025, down from an earlier forecast of 2.7%.”This would mark the slowest rate of global growth since 2008, aside from outright global recessions,” the Bank said in its Global Economic Prospects report.Trade uncertainty, especially, has weighed on the outlook, the World…

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Arvind Jain, CEO of Glean, on SaaS Monster stage during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal, on Nov. 2, 2022.Harry Murphy | Sportsfile | Getty ImagesGenerative AI enterprise search startup Glean announced on Tuesday that it raised $150 million in a Series F financing, pushing up its valuation from investors by billions of dollars in less than a year, to $7.2 billion. The company’s last fundraising in September 2024 valued Glean at $4.6 billion.On Tuesday, Glean was also named to the CNBC Disruptor 50 list for the second-consecutive year.Glean reported that its annual recurring…

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