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Morgan Stanley is turning bearish on Egypt as the cash-strapped nation faces what the US bank called “mounting

Meta chief Mark Zuckerberg has said that the company’s Metaverse platform may one day help people interact with the virtual avatars of their deceased loved ones. In an interview with podcaster Lex Fridman in the Metaverse, Mr Zuckerberg shared his thoughts on the future of virtual reality and the company’s VR platform. He shared details on Meta using new technology to scan users’ faces to build their 3D virtual models, Insider first reported. Mr Fridman asked the Meta chief if there was the possibility of the technology being used to talk to dead friends and relatives. “I would love to talk to people who are no longer here that are loved ones. So if you look into the future, is that something you think about?” he asked. While acknowledging that the idea was complex, the Meta boss said there is “probably some balance” for the idea of creating a virtual version of a dead person by using VR and AI. “If someone has lost a loved one and is grieving, there may be ways in which being able to interact or relive certain memories could be helpful,” Mr Zuckerberg told the podcaster. But the Meta boss also acknowledged such a technology could become “unhealthy”. “I’m not an expert in that, so I think we’d have to study that and understand it in more detail,” he said. The tech giant’s expenses have shot up since it began investing in its futuristic virtual reality social media platform Metaverse. Data from July revealed that despite a strong rise in Meta’s advertising revenue and dramatically cutting costs as well as laying off staff, the company had increased expenses due to the development of the metaverse, its artificial intelligence projects and legal fees. At a developer conference last week, the tech giant unveiled the next version of its VR headset, the Quest 3, that would cost $499 and begin shipping 10 October. Mr Zuckerberg said Meta was “focused on building the future of human connection” where people would interact with hologram versions of their friends or colleagues with AI bots built to assist them. “Soon the physical and digital will come together in what we call the metaverse,” he said. But observers have pointed out that Meta’s transformation to build the nascent virtual-reality world has been slower than expected, costing the company billions of dollars. Experts have also highlighted that global interest for virtual reality headsets has been low. A recent survey by Piper Sandler found less than 1 per cent of US teenagers regularly used virtual reality headsets, with less than a third of the 5,690 teens polled owning a VR device. Only 7 per cent of the respondents had plans to purchase a VR headset and over half said they were either unsure or uninterested. Faced with the challenges of uncertainty around the global economy and a slump in online advertising, the tech giant slashed over 20,000 jobs. Mr Zuckerberg also dubbed 2023 to be the company’s “year of efficiency”. Meanwhile, Apple has also launched its own VR headset, the Vision Pro, which it hopes will be its most important product since the iPhone. Apple’s virtual reality tool allows people to see apps projected on top of the room they are in, enabling them to be “freed from the confines of a display”. Apple’s headset, however, is on the pricier side. It costs $3,499, while Meta’s latest one comes at around $500. Read More Apple blames Instagram for overheating iPhones Tom Hanks calls out AI version of him made without his permission: ‘Beware!’ Meta launches AI chatbots with ‘personalities’ to take on ChatGPT Meta launches AI chatbots with ‘personalities’ to take on ChatGPT Meta showcases new AR/VR tech at annual Connect conference Apple blames Instagram for overheating iPhones

Raphael Varane has won the Champions League more often than Manchester United have. Which, given Europe’s importance to United’s identity, is an indication of the Frenchman’s success in his time at Real Madrid. It ought to mean few are more qualified to discuss what it takes the secure the club game’s most prestigious prize. And, on the face of it, United scarcely look candidates. Languishing 10th in the Premier League, defeated in their last two top-flight games at Old Trafford and fortunate to only be beaten 4-3 by Bayern Munich in their Champions League opener this season, they have not reached the competition’s semi-final since Sir Alex Ferguson retired. They have only progressed to two quarter-finals in the subsequent 10 years: once under David Moyes, once with an almost surreal conclusion to a visit to Paris Saint-Germain under then caretaker Ole Gunnar Solskjaer. Neither their stuttering start to the season nor their decade of disappointment bodes well but Varane argued they can win the competition. “I think so, yes,” he said. And if he is compelled to talk up his team, a quadruple Champions League winner sounded more bullish than he needed to. “It’s not the start of the season we expected but I still believe we have the quality enough to compete with the best teams in the world,” he said. “I think we have the quality in the squad to play and to win that competition.” And if individuals’ credentials are examined, he may have a point. Varane is not even the most decorated member of the current United squad. Casemiro has five winner’s medals from his Real Madrid career. Mason Mount is proof a team does not have to start a season well to end it champions of Europe: Chelsea were ninth in England when Thomas Tuchel was appointed in January 2021 but he set up Kai Havertz’s final winner. Andre Onana’s last game for Internazionale was June’s final against City. Manager Erik ten Hag was a kick of the ball away from steering Ajax to the 2019 final. As Tottenham went through, Christian Eriksen instead played in it. Perhaps, though, that illustrates the issue with United: they can be less than the sum of their parts. That has been the case so far, in part because some of those components are missing: United have actually won four of the six games in which Varane has featured this season and lost all three he has missed. Nearly all of their finest victories under Ten Hag have come with the Frenchman partnered with Lisandro Martinez, but now the Argentinian is out until December. Varane argued a defence that has conceded 15 times in all competitions this season has not been the problem; that may flatter him and his colleagues, given that their statistics for shots against and xGA are those of a mid-table team. United scored three goals from four attempts on target in Munich but they have been profligate in the Premier League. Varane feels the key to success in Europe lies in being more clinical. “I think that competition is about details, and you have to be efficient to win that competition,” he added. “In the last weeks, I think what we can improve is to be more efficient in front of the goals, with a very low number of occasions we concede goals. We need to create a lot to score, so that’s the reality of the top level. You have to be efficient to win big trophies.” And United have not been efficient in the Premier League. They have seven goals from 109 shots this season. Marcus Rashford’s return of just one from 28 is an issue for the joint top scorer in last year’s Europa League, but he is not alone. Bruno Fernandes has two goals – one a penalty – from 20 shots, Casemiro, the top scorer in all competitions, one from 14, Alejandro Garnacho none from 10, Rasmus Hojlund none from seven, though he has also scored in Europe. Antony’s impending return may not help: the Brazilian has had 11 efforts, with only two on target and no goals. Better finishing would help; but United’s general performance level is scarcely that of a side who look the best among the best in Europe. They have overcome few elite teams in months: not since Aston Villa in April, while their last major scalp was Newcastle in February’s Carabao Cup final. And as Varane knows from personal experience, conquering Europe involves beating some of the best: in his four successful campaigns, Real eliminated Bayern Munich and Atletico Madrid three times each in the knockout stages, Juventus twice and Borussia Dortmund, Roma, Napoli, Manchester City and Liverpool once apiece. Could this United do something similar? It feels unlikely but Varane has a formula for glory. “You have to take care of every detail, but we have a team with quality, with a good mentality and we have to make some improvements,” he said. But a lot of improvements are required. Read More Marcus Rashford’s form has become the latest symptom of Manchester United’s struggles Mason Mount aware Man Utd must improve after stuttering start to the season Erik ten Hag loses signature strength as mediocre Manchester United’s revival proves a false dawn The key questions behind Manchester United’s poor start to the season Erik ten Hag concerned by Manchester United’s mounting injury problems Champions League faces future rival as Saudi Arabia looks to transform Club World Cup

British drugmaker AstraZeneca on Tuesday said it will pay $425 million to settle product liability litigations related to

(Reuters) -The Russian rouble weakened past the symbolic threshold of 100 to the dollar before recovering slightly in early trade

The homes of several journalists who work with NewsClick website have been searched.

LONDON--(BUSINESS WIRE)--Oct 3, 2023--

At Bloomberg Pursuits, we love to travel. And we always want to make sure we’re doing it right.

ZURICH--(BUSINESS WIRE)--Oct 3, 2023--

Severe Typhoon Koinu will pass over the southern tip of Taiwan in coming days before heading toward Hong

Shares in Anil Agarwal’s Vedanta Ltd. rose Tuesday, the first trading day after the Indian tycoon announced an

By Brigid Riley TOKYO The dollar reached fresh 11-month highs on Tuesday, pushing the yen down closer to