From Headlines From Clear Law…

In today’s news, I bring to you the Top 5 news:

1. Oil traders bet Iran will want to keep its exports flowing;

2. Microsoft to invest $1.5bn in Abu Dhabi AI group G42;

3. Booming AI demand threatens global electricity supply;

4. Amazon’s Secret Operation to Gather Intel on Rivals; and

5. Electric cars sales stall in Germany.

and much more to stay tuned for.

Detailed Report for the Day consists of:

Oil Traders bet Iran will want to keep its exports flowing

Oil markets have remained remarkably calm despite recent geopolitical developments in the Middle East and Ukraine - because markets are coming off the boil due to interest rate cut hopes fading and because Iran will want to continue to keep exporting oil to China, its biggest customer.

Military briefing: Israel’s options to strike Iran

The article looks at the options available to Israel for its next move. It could target “offshore” Iranian targets, cyber attacks and assassinations, direct strikes against Iranian military targets either using drones or an all-out air assault - or indeed a combination of some or all of the above.

This means: that the reason why oil prices did not get affected is because Iran’s attack was very well telegraphed beforehand, so most of the missiles were destroyed.

Microsoft to Invest $1.5bn in Abu Dhabi AI group G42

The Big Tech giant announced a big investment - its latest in the growing area of AI. This will get Microsoft a minority stake in G42 and its vice-chair and president Brad Smith a seat on the board. G42 to cut links to Chinese hardware suppliers at the end of last year. It will also bolster Abu Dhabi’s bid to be an Ai hub.

Tesla Delays Cybertrucks Deliveries, Leaving Buyers Confused

We see that Tesla has delayed deliveries in recent days, just as demand for EVs continues to weaken. No reasons were given. Tesla drivers will be used to delays but this isn't good news.

Booming AI demand threatens global electricity supply

The electricity supply could be the next thing to limit the rate of growth for AI, according to leading tech industry leaders. More AI requires more data centres and more data centres require more chips and electricity to power them.

OpenAI’s model all but matches doctors in assessing eye problems

This highlights the current state of affairs with OpenAI’s latest mode - GPT-4. It has now almost equalled expert doctors in analysing eye conditions, according to the latest research!

Meta unveils less sanctimonious AI models as tech rivalry heats up

Release of a new version of its AI model, Llama 3. Meta says that it has vastly improved capabilities, edging it closer to human-level intelligence. Llama 3 differs from models from Google to OpenAI in that it will be open source. Llama 3 will be integrated into Meta AI, the chatbot that works across all of its platforms.

This means: that the IEA says that US data centre electricity consumption is projected to rise from 4% to 6% of total demand by 2026 while AI’s exponential expansion is predicted to consume at least 10 times its 2023 demand by 2026.

Inside Amazon’s Secret Operation to Gather Intel on Rivals

Amazon managed to spy on the competition as its Seattle-based secret operation, called Big River Services International, sold around $1m worth of products via the e-commerce marketplaces including eBay, Shopify, Walmart and Amazon! This division of Amazon collected pricing data, logistics information and other details about its rival which is then shared with Amazon itself and fed into the decision-making process.

Asos faces a fight to keep Topshop as Shein rekindles interest

The British online retailer is facing pressure from several other retailers to sell them Topshop. Asos bought Topshop, Topman and Miss Selfridge from Arcadia Group for £330m in 2021 but given its current difficulties, it said last year that it was considering selling it off to reduce its debt pile and losses.

This means: that although most big companies keep an eye on their competitors to try to improve their businesses the lengths that Big River Services went to were pretty impressive.

Electric car sales stall in Germany

the latest stats from the European Automobile Manufacturers’ Association show that sales of EVs in Germany fell by 29% year-on-year in March. This is way higher than the average for the EU which saw a sales fall of 11% over the same time period. Interestingly, new regulations for zero-emission cars have almost halved in Norway, the fourth biggest EV market in Europe.

UK car insurance prices fall for the first time in two years

Shows that UK car insurance prices dropped at the start of 2024 for the first quarter-on-quarter fall in over two years, according to an index of price comparison site quotes published by Confused.com and insurance broker WTW. The £941 average annual premium quoted in Q1 is up by a chunky 43% vs Q1 last year but is less than the £995 average between October and December last year.

This means: that the UK has now become Europe’s biggest market for electric cars as sales in March rose by 4% - but over the first quarter they were up by 10%.

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