Alon Lemel

Jensen said useful quantum computers are "decades away" - wait, so the guy who competes with quantum chips saying they aren't the next sliced bread?

Top Overnight News China unveiled some of its biggest cuts to benchmark lending rates in years as the government stepped up efforts to reboot the economy and hit its year-end target of about 5 per cent GDP growth. The PBOC said on Monday that the country’s one-year loan prime rate would be reduced to 3.1 per cent from 3.35 per cent, the biggest reduction on record, and the five-year LPR would be cut to 3.6 per cent from 3.85 per cent. FT More than 20 Chinese listed companies have announced plans to tap special central bank lending for share purchases, according to exchange filings, days after the PBOC kicked off the $42 billion funding scheme. The PBOC launched the relending program on Friday, allowing listed companies or their major shareholders to borrow cheaply to fund share buybacks or holding increases. The scheme is worth 300 billion yuan ($42.24 billion) initially. RETRS Saudi Aramco is "fairly bullish" on China's oil demand especially in light of the government's stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday. RTRS UK gov’t preparing bond markets for GBP80B in extra borrowing over the next 5 years (a formal announcement is set to arrive on 10/30), a sum investors say can be absorbed without sparking a Lizz Truss-like panic so long as specific details are provided. London Times Israel extended its bombing campaign in Lebanon, targeting financial institutions it says help fund Hezbollah. PM Benjamin Netanyahu met with top aides to discuss the next attack on Iran after a Hezbollah drone exploded near his home. BBG US banks are considering aggressive cuts to interest payments for corporate depositors as they seek to protect their profit margins after the Federal Reserve cut benchmark lending rates. FT Harris continued her blistering fundraising streak in Sept, with her campaign and allied committees raising more than $359M last month (vs. $160M for Trump). NYT Boeing has reached a tentative deal with its striking union workers that would increase compensation by 35% over four years (which is up from its original offer of 25%), with a union vote scheduled for Wednesday. WSJ Jefferies is the subject of a WSJ profile article detailing the aggressive headcount expansion undertaken by the firm over the last several years as it looks to become a top 5 investment bank by revenue (Jefferies is holding an analyst meeting Monday). WSJ