Morning Beat: PayPal Holdings Inc (PYPL), Microsoft Corporation (MSFT), and Alphabet Inc (GOOGL)
PayPal Holdings Inc (NASDAQ:PYPL) has launched PayPal credit in the UK. The service is designed to let users make purchases even with zero funds in the account. PayPal Credit is not open to all. Passing a credit check is a must to be able to use the service.
Successful applicants will enjoy zero percent interest on orders worth more than £150 for the first four months. However, anything left unpaid for after the four moths will be subject to an interest rate of 17.9%. The service also comes with a credit limit of £1,200.
PayPal Credit marks yet another attempt by PayPal Holdings Inc (NASDAQ:PYPL) to become a preferred paying option for goods and services online.
Microsoft Corporation (NASDAQ:MSFT) has launched a new online app that can read and interpret photographs and come up with captions that users can write on them. CaptionBot is the new app that leverages artificial intelligence capabilities to come up with meaningful captions.
The app combines two neural networks; one that deals with image recognition to study and understand an image and another one that deals with natural language processing. The app is not the first one to use AI to write captions. Alphabet Inc (NASDAQ:GOOGL) has already come up with some algorithms able to do the same functions. Microsoft Corporation (NASDAQ:MSFT) can, however, boast of the fact that its AI tool is well packaged compared to previous offers.
Alphabet Inc (NASDAQ:GOOGL) has added a new feature on its Google Maps for India, designed to provide accurate traffic alerts. The new navigation mode on Android and iOS will alert users of all traffic conditions on the roads.
The feature will also provide an alternative route that one can use to avoid being stuck in a jam for long. Depending on the road one is using, Google Maps will provide an estimate time that one should expect to spend in case of a jam.
Alphabet Inc (NASDAQ:GOOGL) launched the feature in the US last year as part of an effort that seeks to make it easier for people to get around towns, quicker.
The International Energy Agency expects oil markets to stabilize in the second half of the year. The sentiments come on expectations that oil surplus will dwindle to 200,000 barrels a day from the current highs of 1.5 million a day.
Supplies outside OPEC should drop by 700,000 barrels a day to 57 million barrels according to the agency’s estimates. The decline will represent the biggest drop since 1992 as production in the US shale continues to drop. The latest forecast represents a sentiment shift, IEA having warned in February that the glut in supply could last longer than initially thought.
Efforts to clamp down on a glut in supply are however being hurt by OPEC members remaining firm against initiating output freeze. Iran has been the most vocal, having reiterated it will only consider the solution on attaining it pre-sanctions production levels.
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