Ucare.ai, a Singapore-based startup, has raised $8.2 million to move ahead with its work using artificial intelligence to increase the efficiency of health care systems. The startup's clients include Parkway Shenton, which manages more than 1,000 clinics.
Semantic Machines, a startup developing chatbots capable of natural speech, has been acquired by Microsoft. Financial information on the deal wasn't released, but Microsoft says it is supporting a new conversational artificial intelligence facility in Berkeley, Calif.
The rise and fall of blood-testing startup Theranos has received a lot of attention, most of it focused on founder Elizabeth Holmes. Reporter John Carreyrou explains the little-noticed role of Ramesh "Sunny" Balwani, who was president and chief operating officer for seven years, leaving the post in 2016.
Technical analyst Frank Cappelleri, CMT, contends Walmart has underperformed this year but says its low valuation provides an attractive investment opportunity, as the stock's chart suggests a rebound is due. Walmart has a history of strong comebacks, after a decline of almost 20% over four months, and the stock is approaching a support line that could propel it upward, Cappelleri says.
The Standard & Poor's 500 index is likely to decline early this week to about 2,680 before rising to previous levels, technical analyst Steve Miller writes, but more risk is expected next week as a cycle starts. The index declined 0.6%, or 16 points, last week to 2,712.
Passive investing brings a lack of diversity, Rick Bookstaber writes, and the more investors choose to follow it, the higher the likelihood of turbulence. Bookstaber previously has outlined the perils of passive investing, citing risks that are often overlooked.
Coinbase reportedly has approached the US Office of the Comptroller of the Currency about obtaining a banking license, while ivyKoin has met with the Federal Deposit Insurance Corp. The cryptocurrency firms wish to offer a wider range of services, a source says.
Cboe Global Markets is preparing to introduce the first broad-based US corporate-bond index futures. The futures are waiting approval from the Commodity Futures Trading Commission.
General Electric has almost completed negotiations to merge its transportation unit with rail-equipment supplier Wabtec, sources say. The deal would be the biggest so far for John Flannery, named CEO in August with a mandate to increase the company's stock price and to cut costs.