Tag: dollars

Vendors sue Twitter for thousands of dollars in unpaid bills

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San Francisco: Elon Musk-run Twitter has been sued by a group of vendors who allege that the micro-blogging platform has failed to pay tens of thousands of dollars in unpaid bills, the media reported.
White Coat Captioning, YES Consulting and public relations firms Cancomm and Dialogue Mexico alleged in the proposed class-action lawsuit that Twitter is yet to pay bills ranging from around $40,000 to $140,000 for their services, reports CNN.
The lawsuit has been filed in the California Northern District Court.

Shannon Liss-Riordan, who has also filed four proposed class-action lawsuits and hundreds of arbitration demands on behalf of laid off Twitter workers, said that “Musk told Twitter vendors that, if they want to get paid, then sue”.
“He is now getting his wish. Businesses, like employees, should not have to sue to get paid what they are owed,” Liss-Riordan was quoted as saying in the report late on Tuesday.
Meanwhile, Twitter has also been sued by laid off contract workers who allege they should be treated at par with regular employees.
The proposed class-action lawsuit claims that Twitter in November laid off numerous workers employed by staffing firm TEKsystems Inc without any advance notice.
The micro-blogging platform is also facing a lawsuit from a landlord in San Francisco claiming the company has missed rent payments, along with a couple of other lawsuits since Musk took over.

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( With inputs from www.siasat.com )

April 5, 2023
Economy – World Bank: earthquakes in Turkey caused damages of 34.2 billion dollars

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First modification: 02/28/2023 – 02:59
The World Bank estimated the economic cost of the damage caused in Turkey by the strong earthquakes that affected the southeast of the country at the beginning of the month at more than 34,000 million dollars, while warning that reconstruction could cost twice that amount.
The number could double. The World Bank estimated the economic costs of the February 6 earthquakes in Turkey at $34 billion, mainly affecting the southeast of the country.
“The report acknowledges that the costs of salvage and reconstruction will be much higher (than those caused by the damage), potentially twice as large, and that the associated Gross Domestic Product (GDP) losses will add to this cost,” the report explained. institution in a statement.
Humberto López, director of the World Bank for Turkey, declared that the earthquakes discounted at least half a percentage point in the expected GDP growth of Turkey, which would be between 3.5% and 4% for this year.
Of the cataloged damages, some 18,000 million dollars, more than half were in damages caused to residential buildings. The World Bank estimates that around 1.25 million people were temporarily left homeless due to damage to their homes.
The institution already announced on February 9 an initial aid package of 1,780 million dollars for the reconstruction and rescue efforts.
People look at the debris left behind by flooding in the town of Bozkurt, in Kastamonu province, Turkey. August 13, 2021. © Can Erok / Demiroren Visual Media via Reuters
On the other hand, the situation in Syria was “really catastrophic,” said Anna Bjerde, World Bank Group vice president for Europe and Central Asia. The Bank will publish a separate estimate of the damage in Syria on Tuesday.

The earthquakes, measuring 7.7 and 7.6, caused more than 44,000 deaths in Turkey alone. In Syria, almost 6,000 deaths have been registered. According to the World Bank report, more than 7,500 aftershocks occurred after the movements, which is the largest catastrophe of its kind in Turkey in more than 80 years.
with Reuters
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( With inputs from : pledgetimes.com )

February 28, 2023
Microsoft invests billions of dollars in ChatGPT developer OpenAI

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San Francisco: Microsoft on Monday announced a multi-year, multi-billion-dollar investment in OpenAI, the developer behind AI-driven ChatGPT which has become a rage.
The tech giant, which infused $1 billion in OpenAI in 2019, did not divulge the investment amount in the “third phase of our long-term partnership with OpenAI”. Earlier reports had claimed Microsoft may infuse up to $10 billion in OpenAI.
“We formed our partnership with OpenAI around a shared ambition to responsibly advance cutting-edge AI research and democratise AI as a new technology platform,” said Satya Nadella, Chairman and CEO, Microsoft.
“In this next phase of our partnership, developers and organisations across industries will have access to the best AI infrastructure, models, and toolchain with Azure to build and run their applications,” Nadella added.
Microsoft will now increase its investments in the development and deployment of specialised supercomputing systems to accelerate OpenAI’s groundbreaking independent AI research.
It will deploy OpenAI’s models across its consumer and enterprise products and introduce new categories of digital experiences built on OpenAI’s technology.
This includes Microsoft’s Azure OpenAI Service which empowers developers to build cutting-edge AI applications through direct access to OpenAI models, said the tech giant.
“The past three years of our partnership have been great,” said Sam Altman, CEO of OpenAI.

“Microsoft shares our values and we are excited to continue our independent research and work toward creating advanced AI that benefits everyone,” he added.
As OpenAI’s exclusive cloud provider, Azure will power all OpenAI workloads across research, products and API services.
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( With inputs from www.siasat.com )

January 23, 2023