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Good morning.
I was in Abu Dhabi this morning and we were there Just announced that the 2023 Fortune Global Forum will be held Later this year, the CEOs of the world’s largest companies as well as many of the most exciting startups will gather here to share their ideas and plans new era of business just in front. November 27-29. Mark your calendar. This one is not to be missed.
Why choose Abu Dhabi? CEOs are grappling with three major changes that will shape business and society for decades to come. The city is an ideal location to explore all three.
—First, the reimagining of globalization. Companies are rethinking their supply chains and global footprints to improve resilience and reduce geopolitical risk. The UAE is a natural bridge between east, west, north and south. It has a well-developed commercial and transport infrastructure. It’s moving in a more tolerant and open direction, making it high on the list of potential investments.
—Second, restructuring the economy to meet the climate challenge. While the UAE is built on petrodollars, leaders here have taken the long view to invest in reducing emissions and increasing renewable energy. As a sign of this, Dubai will begin hosting this year’s COP28 on the same day that the Fortune Global Forum closes.
—3. Technological revolutionAbu Dhabi has invested heavily in this area, opening its first university dedicated solely to the development of artificial intelligence: the Mohamed bin Zayed University of Artificial Intelligence.Significantly, the UAE’s signing of the historic Abraham Accords means wealth It will be able to take advantage of nearby Israel’s vibrant tech community when gathering audiences and shows.
wealth Global forums have been held in major cities around the world since 1995, including Singapore, Beijing, Shanghai, Rome, Paris and other places. We do so on the belief that business can and should be a force for positive change in society.If you are interested in joining this effort, you can find more information here.
Also, CEO Daily reported yesterday Ken Griffin’s Citadel shines in 2023, netting $16 billion in profits for its clients, making it the most successful year for a hedge fund on record. Two weeks ago, I interviewed Griffin and New York Mayor Eric Adams at the Partnerships in New York City conference about his decision to increase his office footprint in New York, even as he was pulling out of Chicago. At that meeting, Griffin gave what he said was a big reason for his success in 2023: His employees are all back in the office full-time.
As he said this, many other financial CEOs in the room nodded in agreement. If you’re part of the NYC financial community and haven’t heard back to the office yet, stay tuned!
Other news follows.
Alan Murray
@alansmurray
alan.murray@fortune.com
headline News
SEC and cryptocurrencies
SEC filibusters prevented several cryptocurrency-focused companies from going public last year, according to a report Magazine Report. These companies include Circle Internet Financial, eToro Group and Bullish Global. SEC Chairman Gary Gensler believes that many cryptocurrency institutions do not comply with investor protection rules. wall street journal
Clean Technology jobs
Officials in U.S. states including Ohio, Michigan and Georgia are trying to get European clean energy companies to move to their turf. Carrot: Fat tax break in the Inflation Reduction Act. The EU is already annoyed by the way the law incentivizes Americans to “buy American” when it comes to green technology; this will no doubt cause more outrage, while also forcing the EU to do something similar. Financial Times
Microsoft and OpenAI
Microsoft is investing again in OpenAI, the company behind the super-hit ChatGPT chatbot. This time it’s up to $10 billion, reportedly over the course of several years; Microsoft’s Azure cloud will continue to exclusively support ChatGPT. ChatGPT has been touted by some as a potential threat to Google Search, possibly including Google itself, which has reportedly drafted co-founders Sergey Brin and Larry Page to help chart some next steps. wealth
Around the drinking fountain
OnlyFans’ CEO Wants You To Know Her $1 Billion-A-Year Business Is Not Just About Sex AnymoreEmma Hinchliffe
Twitter sued by British royal for failing to pay office rentOrianna Rosa Royle
Creators report minimal revenue from TikTok’s ad revenue-sharing programAlexandra Sternlichter
An FBI agent who led an investigation into Russian oligarchs during the Trump administration is secretly working for one: indictmentAssociated Press
From Planning to Execution: A Step-by-Step Guide to Executing a Layoff Rightjeff colvin
current issue President’s Daily Edited by David Meyer.
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