Morning Beat: JPMorgan Chase & Co. (JPM), Microsoft Corporation (MSFT), and Alphabet Inc (GOOGL)
JPMorgan Chase & Co. (NYSE:JPM) analysts believe there are no limits as to how low central banks can go in a bid to ease monetary policy. The remarks come on European Central Bank and the Bank of Japan embracing less than zero interest rates. Denmark, Sweden, and Switzerland have also gone overboard in embracing the negative interest rates.
Bank of England Governor Mark Carney has already hinted that they could go to negative interest rates route, if need arises. However, concerns over zero interest rates remain as it would hurt profitability of lenders forcing them to pass costs to borrowers.
According to JPMorgan Chase & Co. (NYSE:JPM), Most central banks are out of ammunition which is required to deal with weak economy.
Microsoft Corporation (NASDAQ:MSFT) has acquired Groove Service from Canadian startup Zikera. With the purchase, the software giant can now use the name ‘Groove’ for its rebranded Xbox Music Service.
It is still unclear whether Groove Service creators will join the Microsoft Corporation (NASDAQ:MSFT) team. There is also now word of the amount the tech giant paid for the service. In a post, the service creators say the app will no longer be available for download and no further updates should be expected. Users, who have already downloaded the app, about 1.5 million, will however, continue to use the app as it analyzes their listening habits to personalize their playlists.
Alphabet Inc (NASDAQ:GOOGL) has confirmed that starting June it will no longer allow ad uploads on AdWords and DoubleClick built on Flash. The tech giant joins the likes of Adobe and Firefox that are slowly embracing HTML5.
YouTube has already embraced HTML5, Alphabet Inc (NASDAQ:GOOGL) having made it easier for creators to switch from Flash to the new file format. Flash popularity is slowly diminishing having accounted for a mere 5% of all mobile and videos last year.
With Google, the behemoth of advertising, pulling the plug on the same, its days could be numbered.
Alphabet Inc (NASDAQ:GOOGL) has moved a step closer to winning regulatory approval for its driverless cars after regulators endorsed its artificial intelligence system piloting its cars. Vehicle safety regulators say the system could be considered as an alternative driver under federal law.
The endorsement is a big lift, not only for Alphabet Inc (NASDAQ:GOOGL), but other participants who have raised concerns that current safety rules impend development and testing of driverless cars. Safety regulators deciding to name artificial intelligence system as an alternative to human drivers.
Google has yet to provide a response to legal obstacles previously raised by the NHTSA such as having safety equipment by the side. The tech giant has already raised concern that having such features could tempt a human to take control.
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