Newsletter Feb 23, 2023

3 things you must know

Google scientists hails quantum computing breakthrough
Google scientists said Wednesday they have passed a major milestone in their quest to develop effective quantum computing, with a new study showing they reduced the rate of errors -- long an obstacle for the much-hyped technology. Quantum computing has been touted as a revolutionary advance that uses our growing understanding of the subatomic world to create a machine with powers far beyond those of today's conventional computers. However, the technology remains largely theoretical -- until now?.
SEE BIG TECH'S RACE TO MASTER QUANTUM COMPUTING

Fed meeting minutes reveal concern over interest rate hikes
At their last monetary policy meeting, Federal Reserve officials mulled financial stability risks that existed in part due to their aggressive rate rises. At the FOMC meeting held on Jan. 31-Feb. 1, officials flagged what they saw as potential vulnerabilities in things like commercial real estate and non-bank financial companies, according to meeting minutes released Wednesday.
SEE THE FED'S THINKING ABOUT NEXT ROUND OF HIKES

NPR is latest media outlet to announce layoffs with 10% cut
National Public Radio, the Washington, D.C.-based non-profit media organization, announced Wednesday that it will lay off 10% of its current workforce, making it the latest media outlet to slash employees as a cost-cutting move. Citing a loss in advertising revenue, NPR also announced the elimination of most of its vacant positions. The layoffs will affect more than 100 employees.
SEE THE GROWING LIST OF MEDIA OUTLET MAKING CUTS

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Markets

DJIA	33,045.09	-0.26%
S&P 500	3,991.05	-0.16%
Nasdaq Composite	11,507.07	0.13%
Japan: Nikkei 225	27,104.32	-1.34%
UK: FTSE 100	7,930.63	-0.59%
Crude Oil Futures	74.21	0.35%
Gold Futures	1,836.00	-0.30%
Yen	134.80	-0.09%
Euro	1.06	0.12%
* As of market close

Tesla engineering HQ staying in California

Elon Musk is not entirely abandoning California, saying on Wednesday that Tesla will make the state its global engineering home, even though the electric vehicle maker's corporate headquarters are now in Texas. Tesla in 2010 acquired a plant from a joint venture of General Motors Co and Toyota Motor Corp in Fremont, Calif., where it still operates. Wednesday's news marked something of a shift for the billionaire CEO, who had criticized California's regulations and taxes harshly after he moved Tesla's official corporate headquarters to Texas in 2021.

SEE WHAT MUSK SAID ABOUT HIS NEW DEAL WITH CALIFORNIA

Microsoft launches Bing on mobile devices

Microsoft launched its AI chatbot Bing onto mobile devices Wednesday, allowing users to experience the attention-grabbing software. Bing is now available globally on Microsoft's Edge mobile browser and dedicated Bing app on iOS and Android devices for those who have been accepted from the waitlist. Microsoft says more than one million people in 169 countries have already utilized the AI-powered chatbot.

SEE THE BUZZ SURROUNDING MICROSOFT'S NEW AI CHATBOT

Three fireballs light the sky in as many days

February has been rife with fireball events, with three such events happening in just a span of three days. The fireball free-for-all started with the discovery of an asteroid over Europe on Feb. 13, followed by a Valentine's Day event over Southern Italy and a Feb, 15 fireball in Rio Grande Valley, Texas. All three led to the discovery of meteorite pieces for further study, and their images were captured on spectacular video.

CHECK OUT VIDEO OF THE FEBRUARY FIREBALL FREE-FOR-ALL

Great balls of fire

What massive fireball awed and frightened U.S. witnesses in 1972?

Wednesday's answer: The Church of Jesus Christ of Latter-day Saints officially organized in 1830 by founder Joseph Smith in Fayette, N.Y.

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