05/06/2023 | UPONSOFT

China Approves Safety of Gene-Edited Soybean

By Uponsci | 05/06/2023 | No Comments | Business, Science, Silicon Valley

China has approved the safety of a gene-edited soybean, its first approval of the technology in a crop, as the country increasingly looks to science to boost food production.

The soybean, developed by privately owned Shandong Shunfeng Biotechnology Co. Ltd., has two modified genes, significantly raising the level of healthy fat oleic acid in the plant.

The safety certificate has been approved for five years from April 21, according to a document published last week by the Ministry of Agriculture and Rural Affairs.

Unlike genetic modification, which introduces foreign genes into a plant, gene editing alters existing genes.

The technology is considered to be less risky than GMOs and is more lightly regulated in some countries, including China, which published rules on gene-editing last year.

“The approval of the safety certificate is a shot in the arm for the Shunfeng team,” said the firm in a statement to Reuters on Thursday.

Shunfeng claims to be the first company in China seeking to commercialize gene-edited crops.

It is currently researching around 20 other gene-edited crops, including higher yield rice, wheat and corn, herbicide-resistant rice and soybeans and vitamin C-rich lettuce, said a company representative.

United States-based company Calyxt also developed a high oleic soybean, producing a healthy oil that was the first gene-edited food to be approved in the U.S. in 2019.

Several additional steps are needed before China’s farmers can plant the novel soybean, including approvals of seed varieties with the tweaked genes.

The approval comes as trade tensions, erratic weather and war in major grain exporter Ukraine have increased concerns in Beijing over feeding the country’s 1.4 billion people.

A growing middle class is also facing a surge in diet-related disease.

China is promoting GMO crops too, starting large-scale trials of GM corn this year.

Getting gene-edited crops onto the market is expected to be faster however, given fewer steps in the regulatory process.

Aside from the United States, Japan also has approved gene-edited foods, including healthier tomatoes and faster-growing fish.
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Google Plans to Make Search More ‘Human,’ Says Wall Street Journal

By Uponsil | 05/06/2023 | No Comments | Business, Science, Silicon Valley

Google is planning to make its search engine more “visual, snackable, personal and human,” with a focus on serving young people globally, The Wall Street Journal reported on Saturday, citing documents.

The move comes as artificial intelligence (AI) applications such as ChatGPT are rapidly gaining in popularity, highlighting a technology that could upend the way businesses and society operate.

The tech giant will nudge its service further away from “10 blue links,” which is a traditional format of presenting search results and plans to incorporate more human voices as part of the shift, the report said.

At its annual I/O developer conference in the coming week, Google is expected to debut new features that allow users to carry out conversations with an AI program, a project code-named “Magi,” The Wall Street Journal added, citing people familiar with the matter.

Generative AI has become a buzzword this year, with applications capturing the public’s fancy and sparking a rush among companies to launch similar products they believe will change the nature of work.

Google, part of Alphabet Inc., did not immediately respond to Reuters’ request for comment.
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Buffett Shares Good News on Profits, AI Thoughts at Meeting

By Uponsil | 05/06/2023 | No Comments | Business, Science, Silicon Valley

Billionaire Warren Buffett said artificial intelligence may change the world in all sorts of ways, but new technology won’t take away opportunities for investors, and he’s confident America will continue to prosper over time.

Buffett and his partner Charlie Munger are spending all day Saturday answering questions at Berkshire Hathaway’s annual meeting inside a packed Omaha arena.

“New things coming along doesn’t take away the opportunities. What gives you the opportunities is other people doing dumb things,” said Buffett, who had a chance to try out ChatGPT when his friend Bill Gates showed it to him a few months back.

Buffett reiterated his long-term optimism about the prospects for America even with the bitter political divisions today.

“The problem now is that partisanship has moved more towards tribalism, and in tribalism you don’t even hear the other side,” he said.

Both Buffett and Munger said the United States will benefit from having an open trading relationship with China, so both countries should be careful not to exacerbate the tensions between them because the stakes are too high for the world.

“Everything that increases the tension between these two countries is stupid, stupid, stupid,” Munger said. And whenever either country does something stupid, he said the other country should respond with incredible kindness.

The chance to listen to the two men answer all sorts of questions about business and life attracts people from all over the world to Omaha, Nebraska. Some of the shareholders feel a particular urgency to attend now because Buffett and Munger are both in their 90s.

“Charlie Munger is 99. I just wanted to see him in person. It’s on my bucket list,” said 40-year-old Sheraton Wu from Vancouver. “I have to attend while I can.”

“It’s a once in a lifetime opportunity,” said Chloe Lin, who traveled from Singapore to attend the meeting for the first time and learn from the two legendary investors.

One of the few concessions Buffett makes to his age is that he no longer tours the exhibit hall before the meeting. In years past, he would be mobbed by shareholders trying to snap a picture with him while a team of security officers worked to manage the crowd. Munger has used a wheelchair for several years, but both men are still sharp mentally.

But in a nod to the concerns about their age, Berkshire showed a series of clips of questions about succession from past meetings dating back to the first one they filmed in 1994. Two years ago, Buffett finally said that Greg Abel will eventually replace him as CEO although he has no plans to retire. Abel already oversees all of Berkshire’s noninsurance businesses.

Buffett assured shareholders that he has total confidence in Abel to lead Berkshire in the future, and he doesn’t have a second choice for the job because Abel is remarkable in his own right. But he said much of what Abel will have to do is just maintain Berkshire’s culture and keep making similar decisions.

“Greg understands capital allocation as well as I do. He will make these decisions on the same framework that I use,” Buffett said.

Abel followed that up by assuring the crowd that he knows how Buffett and Munger have handled things for nearly six decades and “I don’t really see that framework changing.”

Although not everyone at the meeting is a fan. Outside the arena, pilots from Berkshire’s NetJets protested over the lack of a new contract and pro-life groups carried signs declaring “Buffett’s billions kill millions” to object to his many charitable donations to abortion rights groups.

Berkshire Hathaway said Saturday morning that it made $35.5 billion, or $24,377 per Class A share, in the first quarter. That’s more than 6 times last year’s $5.58 billion, or $3,784 per share.

But Buffett has long cautioned that those bottom line figures can be misleading for Berkshire because the wide swings in the value of its investments — most of which it rarely sells — distort the profits. In this quarter, Berkshire sold only $1.7 billion of stocks while recording a $27.4 billion paper investment gain. Part of this year’s investment gains included a $2.4 billion boost related to Berkshire’s planned acquisition of the majority of the Pilot Travel Centers truck stop company’s shares in January.

Buffett says Berkshire’s operating earnings that exclude investments are a better measure of the company’s performance. By that measure, Berkshire’s operating earnings grew nearly 13% to $8.065 billion, up from $7.16 billion a year ago.

The three analysts surveyed by FactSet expected Berkshire to report operating earnings of $5,370.91 per Class A share.

Buffett came close to giving a formal outlook Saturday when he told shareholders that he expects Berkshire’s operating profits to grow this year even though the economy is slowing down and many of its businesses will sell less in 2023. He said Berkshire will profit from rising interest rates on its holdings, and the insurance market looks good this year.

This year’s first quarter was relatively quiet compared to a year ago when Buffett revealed that he had gone on a $51 billion spending spree at the start of last year, snapping up stocks like Occidental Petroleum, Chevron and HP. Buffett’s buying slowed through the rest of last year with the exception of a number of additional Occidental purchases.

At the end of this year’s first quarter, Berkshire held $130.6 billion cash, up from about $128.59 billion at the end of last year. But Berkshire did spend $4.4 billion during the quarter to repurchase its own shares.

Berkshire’s insurance unit, which includes Geico and a number of large reinsurers, recorded a $911 million operating profit, up from $167 million last year, driven by a rebound in Geico’s results. Geico benefitted from charging higher premiums and a reduction in advertising spending and claims.

But Berkshire’s BNSF railroad and its large utility unit did report lower profits. BNSF earned $1.25 billion, down from $1.37 billion, as the number of shipments it handled dropped 10% after it lost a big customer and imports slowed at the West Coast ports. The utility division added $416 million, down from last year’s $775 million.

Besides those major businesses, Berkshire owns an eclectic assortment of dozens of other businesses, including a number of retail and manufacturing firms such as See’s Candy and Precision Castparts.

Berkshire again faces pressure from activist investors urging the company to do more to catalog its climate change risks in a companywide report. Shareholders were expected to brush that measure and all the other shareholder proposals aside Saturday afternoon because Buffett and the board oppose them, and Buffett controls more than 30% of the vote.

But even as they resist detailing climate risks, a number of Berkshire’s subsidiaries are working to reduce their carbon emissions, including its railroad and utilities. The company’s Clayton Homes unit is showing off a new home design this year that will meet strict energy efficiency standards from the Department of Energy and come pre-equipped for solar power to be added later.
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5 Things to Look for During King Charles III’s Coronation

By Uponent | 05/06/2023 | No Comments | Business, Entertainment

King Charles III’s coronation is a chance to unite people with the history and pageantry of the monarchy, but those traditions are also full of potential controversies as he tries to show that the monarchy still has a role to play in modern Britain.

The new king has already recognized these challenges by adjusting the coronation festivities to the realities of today.

This coronation will be shorter and more inclusive than his mother’s in 1953. Faith leaders from outside the Church of England will take an active role in the ceremony for the first time. And people from all four nations of the United Kingdom, as well as the Commonwealth, will take part.

Here are five artifacts that will play a central role in Saturday’s events.

The Coronation Chair and Stone of Scone

King Charles III will sit atop more than 1,500 years of Irish, Scottish and English history when he is crowned Saturday at Westminster Abbey.

The crown will be placed on Charles’ head as he sits in the Coronation Chair suspended over the Stone of Scone (pronounced “scoon”) — the sacred slab of sandstone on which Scottish kings were crowned. The chair has been part of every coronation since 1308.

The 2.05-meter-tall chair is made of oak and was originally covered in gold leaf and colored glass. The gold has long since worn away and the chair is now pocked with graffiti, including one message that reads “P. Abbott slept in this chair 5-6 July 1800.”

Edward I had the chair built specifically to enclose the Stone of Scone, known by Scots as the Stone of Destiny, after he forcibly took the artifact from Scotland and moved it to the abbey in the late 13th century. The stone’s history goes back much further, however. Fergus Mor MacEirc, the founder of Scotland’s royal line, reputedly brought the stone with him when he moved his seat from Ireland to Scotland around 498, Westminster Abbey said. Before that time, it was used as the coronation stone for Irish kings.

In 1996, Prime Minister John Major returned the stone to Scotland, with the understanding that it would come back to England for use in future coronations. In recent days, the stone was temporarily removed from its current home at Edinburgh Castle in a ceremony overseen by Scottish First Minister Humza Yousaf, then transported to the abbey, where a special service was held to mark its return.

Coronation spoon

The gold-plated silver coronation spoon is the only piece of the coronation regalia that survived the English Civil War. After King Charles I was executed in 1649, the rest of the collection was either melted down or sold off as Parliament sought to abolish the monarchy forever.

The spoon is central to the most sacred part of the coronation ceremony, when the Archbishop of Canterbury will pour holy oil from an eagle-shaped ampulla, or flask, into the spoon and then rub it on the king’s hands, breast and head.

The ceremony has roots in the biblical story of the anointing of King Solomon and was originally designed to confirm that the sovereign was appointed directly by God. While the monarch is no longer considered divine, the ceremony confirms his status as supreme governor of the Church of England.

The 26.7-centimeter spoon is believed to have been made during the 12th century for either King Henry II or King Richard I and may have originally been used for mixing water and wine, according to the Royal Collection Trust.

The Cullinan Diamond

Two stones cut from the Cullinan Diamond — the largest rough diamond ever found — will feature prominently in the coronation, fueling controversy the royal family would rather avoid.

For many in South Africa, where the original stone was found in 1905, the gems are a symbol of colonial oppression under British rule and they should be returned.

Cullinan I, a huge drop-shaped stone weighing 530.2 carats, is mounted in the Sovereign’s Scepter with Cross. On Saturday, the scepter will be handed to Charles as a symbol of his temporal power.

Cullinan II, a cushion-shaped gem of 317.4 carats, is mounted on the front of the Imperial State Crown that Charles will wear as he leaves Westminster Abbey.

Charles sidestepped a similar controversy when Buckingham Palace announced that his wife, Camilla, wouldn’t wear the crown of Queen Elizabeth, the queen mother, on coronation day.

That crown contains the famous Koh-i-noor diamond that India, Pakistan and Iran all claim. The gem became part of the Crown Jewels after 11-year-old Maharaja Duleep Singh was forced to surrender it after the conquest of the Punjab in 1849.

St. Edward’s Crown

The crowning moment of the coronation ceremony will occur, literally, when the Archbishop of Canterbury places St. Edward’s Crown on Charles’ head.

Because of its significance as the centerpiece of the coronation, this will be the only time during his reign that the monarch will wear the solid gold crown, which features a purple velvet cap, ermine band and criss-crossed arches topped by a cross.

After the ceremony, Charles will swap the 2.08-kilogram crown for the Imperial State Crown, which weighs about half as much, for the procession back to Buckingham Palace.

Queen Elizabeth II once said that even the lighter crown was tricky because it would fall off if she didn’t keep her head upright while reading the annual speech at the state opening of Parliament.

“There are some disadvantages to crowns, but otherwise they’re quite important things,” the late queen told Sky News in 2018, flashing a smile.

The current St. Edward’s Crown was made for the coronation of King Charles II in 1661 and has been used in every coronation since then. It is a replica of the original crown, which was created in the 11th century and melted down after the execution of Charles I in 1649.

The crown glitters with stones including tourmalines, white and yellow topazes, rubies, amethysts, sapphires, garnet, peridot, zircons, spinel and aquamarines.

Until the early 20th century, the crown was decorated with rented stones that were returned after the coronation, according to the Royal Collection Trust. It was permanently set with semi-precious stones ahead of the coronation of George V in 1911.

The Gold State Coach

King Charles III and Queen Camilla will travel back to Buckingham Palace from Westminster Abbey in the Gold State Coach, a 261-year-old relic that is renowned as much for its uncomfortable ride as its lavish decoration.

The coach was built in 1762 under the reign of King George III and it has been used in every coronation since 1831.

It is made of wood and plated with gold leaf, from the cherubs on the roof to the Greek sea gods over each wheel. About the only things that aren’t gilded are the side panels painted with Roman gods and goddesses and, of course, the interior, which is upholstered in satin and velvet.

But the coach is heavy — 4 tons — and old, meaning it only ever travels at walking speed.

And while it may look luxurious, the coach features a notoriously bumpy ride because it is slung from leather straps rather than modern metal springs.

The late queen wasn’t a fan.

“Horrible! It’s not meant for traveling in at all,” she said in 2018 in an interview with Sky News. “Not very comfortable.”

That’s one reason Charles and Camilla will ride to the coronation in the Diamond Jubilee State Coach, which is equipped with hydraulic shock absorbers, as well as heat and air conditioning.
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Factbox: Details of Some of the Crown Jewels

By Uponent | 05/06/2023 | No Comments | Business, Entertainment

The ceremony for King Charles’ coronation at Westminster Abbey in London on Saturday will involve historic regalia ranging from sceptres and maces to a ring and a spoon.

Here are details of some of the Crown Jewels that will be used during the ceremony:

St. Edward’s Crown

Charles will be crowned with the historic St. Edward’s Crown that has been used since the coronation of King Charles II in 1661 after the monarchy was restored following the 10-year republic of Oliver Cromwell. It was removed from the Tower Of London in December for modifications.

The crown, which weighs about 2.2 kilograms, is made up of a solid gold frame set with rubies, amethysts, sapphires, garnet, topazes and tourmalines and has a velvet cap with an ermine band.

It replaced an original crown believed to date back to the 11th century Anglo-Saxon king of England, Edward the Confessor.

Charles will also wear the 1-kilogram Imperial State Crown at the end of the service, the headwear regularly used by British monarchs for official occasions such as the State Opening of Parliament.

Made for the coronation of Charles’ grandfather George VI in 1937, it is set with 2,868 diamonds in silver mounts including the 105-carat Cullinan II, the second biggest stone cut from the Cullinan Diamond, which was given by the government of the Transvaal in South Africa to Edward VII on his birthday in 1907.

The crown also features the large “Black Prince’s Ruby”, along with 17 sapphires, 11 emeralds and 269 pearls, including some of which are said to have been bought as earrings by Tudor monarch Queen Elizabeth I.

Sovereign’s scepter with cross

The Cullinan 1 diamond, also known as the Star of Africa, which weighs in at 530 carats and is the world’s largest colorless cut diamond, was set in the bejeweled golden scepter which has been used in every coronation since 1661.

The scepter, which has undergone a number of alterations over the centuries, represents the sovereign’s temporal power and is associated with good governance.

Sovereign’s scepter with dove

This is the second scepter used in the ceremony, representing the sovereign’s spiritual role. It also dates from 1661. It is made from a gold rod in three sections, mounted with diamonds, rubies, emeralds, sapphires and spinels. At the top is an enameled dove with outspread wings, which represents the Holy Ghost.

The Sovereign’s Orb

The Sovereign’s Orb, another item commissioned for Charles II’s coronation, is a globe of gold with a cross mounted on top, surrounded by a band of diamonds, emeralds, rubies, sapphires and pearls with a large amethyst at the summit. It is a representation of Christian sovereignty.

Coronation ring

The coronation ring, known as “The Wedding Ring of England” and composed of a sapphire with a ruby cross set in diamonds, was made for the coronation of King William IV in 1831. Worn at every coronation since then, it symbolizes kingly dignity.

Swords and maces

A number of swords will feature in the coronation procession.

These include the Sword of State, which symbolizes royal authority and was made in about 1678, and was used at Charles’ investiture as Prince of Wales in 1969. Also to feature will be the Sword of Temporal Justice, the Sword of Spiritual Justice and the Sword of Mercy, which were first used in the coronation of Charles I in 1626.

The bejeweled Sword of Offering, made for the coronation of George IV in 1821, will be presented to Charles, with the message it is a symbol not of might or violence but for the protection of good.

Two maces, made of silver gilt over oak and date from between 1660 and 1695, will also feature. These are the ceremonial emblems of authority which are carried before the sovereign at events such as the State Opening of Parliament.

Ampulla

The golden ampulla, which dates from 1661, is a flask in the shape of an eagle that holds the holy oil, which was consecrated in Jerusalem in March and will be used to anoint the king.

Coronation spoon

The silver-gilt spoon is the oldest piece in the regalia, probably made for Henry II or Richard I in the 12th century. It was used to anoint King James 1 in 1603 and has featured at every coronation since.

Bracelets

Two armills, golden bracelets representing sincerity and wisdom, are placed on the sovereign’s wrists. They are thought to relate to ancient symbols of knighthood and military leadership.

They date back to 1661 and have been used at every coronation from King Charles II’s until King George VI’s in 1937, with new armills specially prepared for Queen Elizabeth in 1953.
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19 Horses to Tangle in Wide-Open 149th Kentucky Derby

By Uponent | 05/06/2023 | No Comments | Business, Entertainment

The cast of characters for the 149th Kentucky Derby was rewritten in the days before the race. What didn’t change: Forte is the early 3-1 favorite on Saturday in a seemingly wide-open field of 19 horses.

Four horses were scratched — Practical Move, Lord Miles, Continuar and Skinner — and three horses waiting on the also-eligible list moved into the field. They are Cyclone Mischief, Mandarin Hero and King Russell.

Last year’s Derby was a stunner: 80-1 shot Rich Strike weaved his way through traffic and came rushing up the rail to win. NBC Sports’ overhead replay of the race was viewed more than 36 million times.

A crowd of about 150,000 is expected to jam Churchill Downs to wager and watch the 1 1/4-mile Derby. Post time is 6:57 p.m. EDT.

Forte breaks from the No. 15 post, which has produced six winners. The dark brown colt is trained by two-time Derby winner Todd Pletcher, who also has the second favorite in Tapit Trice, at 5-1.

The Todd Squad includes Kingsbarns, and it’s an impressive trio.

Forte was last year’s 2-year-old champion and has six wins in seven career starts, including five in a row. Tapit Trice is 4 for 5 and Kingsbarns is 3 for 3.

“You could say it’s the deepest squad we’ve brought so far,” Pletcher said.

Louisville-born Brad Cox won his first Derby belatedly when Mandaloun was elevated to first place after Medina Spirit’s disqualification nine months after the 2021 race.

“There’s no thrill of winning the Derby through a phone call,” he said. “There’s no celebration, there’s no winning picture.”

Cox has a leading four chances to make the winner’s circle in person this year: early 8-1 third choice Angel of Empire; Hit Show; Verifying; and Jace’s Road.

“I’m sure it would be a feeling like no other,” he said.

Gary and Mary West, who own Hit Show, are seeking retribution of their own.

Their horse, Maximum Security, crossed the Derby finish line first in 2019, but was disqualified for interference after a 22-minute delay while stewards reviewed video. Country House was awarded the garland of red roses. The Wests sued unsuccessfully to have the stewards’ decision reversed.

“They would like to cross the wire first and stay up,” Cox said. “They got a really live crack. This colt is really doing well.”

A couple of jockeys are looking for similar satisfaction.

Luis Saez rode Maximum Security in 2019 and received a 15-day suspension for interfering with others; he’s seeking his first Derby win aboard Tapit Trice. Florent Geroux, who was on Mandaloun, is on Jace’s Road.

For the second straight year, the Derby is without Bob Baffert. The Hall of Fame trainer with a record-tying six victories is soon to complete a two-year ban by Churchill Downs Inc. He was punished after Medina Spirit flunked a post-race drug test.

Baffert’s shadow still looms large over the Twin Spires. A colt previously trained by him, Reincarnate, will be in the starting gate.

Trainer Saffie Joseph Jr. found himself on the sideline after being indefinitely suspended Thursday by Churchill Downs Inc. His Derby entry, Lord Miles, was scratched. Two of Joseph’s horses died after races at the track in the days leading up to the Derby. No cause of death has yet been found.

New antidoping and medication rules to be enforced by the sport’s new central governing body won’t take effect until May 22, after the Derby and the Preakness.

Japan is represented by Derma Sotogake and Mandarin Hero, giving the nation two chances to win the Derby for the first time.

Derma Sotogake and Two Phil’s are the most experienced runners in the field, having made eight career starts.

“He has a lot of experience and it has made him tougher and tougher,” said Christophe Lemaire, who will ride Derma Sotogake. “It is important to have that experience with 18 other horses in a high-level race.”

Confidence Game, a 20-1 shot, will try to win coming off an unheard of 10-week layoff.

Saturday’s forecast calls for partly sunny skies and a high of 25 Celsius.

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US Director Damien Chazelle to Head Venice Film Festival Jury

By Uponent | 05/06/2023 | No Comments | Business, Entertainment

U.S. director Damien Chazelle, best known for the Oscar-winning La La Land, will lead the jury of the upcoming Venice Film Festival, organizers announced Friday.

The 80th edition of the prestigious festival will take place from Aug. 30-Sept. 9 on the swanky, beach-lined Lido island.

“For 10 days each year this city of the arts, of Tintoretto and Titian and Veronese, becomes a city of cinema, and I am humbled and delighted to be invited to lead this year’s jury,” said Chazelle, 38, whose most recent film is Babylon.

Chazelle’s musical about making it in Hollywood, La La Land, opened the Venice festival in 2016, and went on to win six Academy Awards, including for its director, the youngest ever to win the prize.

Heading the jury for Venice’s parallel competition, Orizzonti, will be Italy’s Jonas Carpignano, director of a trilogy (Mediterranea, A Ciambra, A Chiara) based in the Calabrian port city of Gioia Tauro.

Last year, the festival’s top Golden Lion prize went to U.S. director Laura Poitras for All the Beauty and the Bloodshed. The documentary traced the campaign by photographer and activist Nan Goldin to hold the rich Sackler family accountable for the U.S. opioid crisis.

U.S. actress Julianne Moore headed last year’s jury, with Spanish director Isabel Coixet at the helm of Orizzonti.
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