diff --git "a/news_db/merged_news_data_2024-04-12.csv" "b/news_db/merged_news_data_2024-04-12.csv" deleted file mode 100644--- "a/news_db/merged_news_data_2024-04-12.csv" +++ /dev/null @@ -1,5898 +0,0 @@ -title,url,timestamp,content,source,clean_date,clean_content,arti_score,pos_sent,neg_sent,rnn_arti_score,rnn_pos_sent,rnn_neg_sent,date_extracted -Did your car insurance rate go up a lot even though you don’t drive much?,https://edition.cnn.com/2024/04/12/business/car-insurance-rate-go-up/index.html," - Published - 3:39 PM EDT, Fri April 12, 2024 - ","Drivers nationwide are facing the biggest car insurance rate increases since 1976. - - Up more than 22% compared to last year, rising car insurance rates are one of the biggest contributors to overall inflation, which hit a new six-month high last month, according to the Consumer Price Index. - - It represents one of many obstacles standing in the way of the Federal Reserve’s 2% inflation goal and continues to be a pain point for Americans struggling with some of the highest prices in decades. - - Car insurers are raising rates higher for a number of reasons. For instance, the cost of repairing cars has gone up as car parts have become increasingly more expensive. There’s also been an uptick in car accidents. - - But if you don’t drive a lot, you may be wondering why you’re being subjected to such high rates given insurers typically base rates off of how much you drive, among other factors. - - If that applies to you, we’d love to hear from you for possible inclusion in a future story. Please fill out the form below to share more details. We will not include anything in an upcoming article, though, without first reaching out to you and interviewing you.",CNN,12/04/2024,"['Drivers nationwide are facing the biggest car insurance rate increases since 1976.', 'Up more than 22% compared to last year, rising car insurance rates are one of the biggest contributors to overall inflation, which hit a new six-month high last month, according to the Consumer Price Index.', 'It represents one of many obstacles standing in the way of the Federal Reserve’s 2% inflation goal and continues to be a pain point for Americans struggling with some of the highest prices in decades.', 'Car insurers are raising rates higher for a number of reasons.', 'For instance, the cost of repairing cars has gone up as car parts have become increasingly more expensive.', 'There’s also been an uptick in car accidents.', 'But if you don’t drive a lot, you may be wondering why you’re being subjected to such high rates given insurers typically base rates off of how much you drive, among other factors.', 'If that applies to you, we’d love to hear from you for possible inclusion in a future story.', 'Please fill out the form below to share more details.', 'We will not include anything in an upcoming article, though, without first reaching out to you and interviewing you.']",-0.0039935355227049,"If that applies to you, we’d love to hear from you for possible inclusion in a future story.",It represents one of many obstacles standing in the way of the Federal Reserve’s 2% inflation goal and continues to be a pain point for Americans struggling with some of the highest prices in decades.,-0.3723416924476623,"Up more than 22% compared to last year, rising car insurance rates are one of the biggest contributors to overall inflation, which hit a new six-month high last month, according to the Consumer Price Index.",It represents one of many obstacles standing in the way of the Federal Reserve’s 2% inflation goal and continues to be a pain point for Americans struggling with some of the highest prices in decades.,2024-04-12 -Why there's a revolution on the way in glass making,https://www.bbc.co.uk/news/business-68429393,2024-04-01T23:03:38.000Z,"I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck. Despite being empty, it's heavy. I ask how much the bottle costs. ""About £270,"" I'm told. I hand the bottle back - very carefully. The bottle, designed for a rare whisky, is one of the creations of Stoelzle Flaconnage, based in Knottingley, West Yorkshire. Glassware has been made on this site since 1871. In 1994 the factory was taken over by Austria's Stoelzle Glass Group, which has focused the plant on making bottles for the spirits industry. It can handle the design, bottle making and decoration all on one site. Demand is strong, helped by the boom in gin making and demand for whisky in Asia. When I visit, the plant is busy, lumps of molten glass are dropping into dozens of moulds, the glass still glowing orange from the heat of the furnace. To stand out in a crowded market, customers want distinctive bottles, with patterned and sometimes coloured glass, elaborate labels and artwork. ""What our clients are looking for is to have their product presented in an outstanding - sometimes iconic - way,"" says Thomas Riss, chief executive of Stoelzle Flaconnage. While business is brisk, Stoelzle Flaconnage - and other glassmakers - are having to make some big decisions about the way they make glass containers. The European Union is cracking down on packaging waste. It wants packaging to be lighter so less material is needed and less fuel is needed for transportation. It has been working on the Packaging & Packaging Waste Regulation (PPWR), which is in the final stages of approval. Under the rules, member states would have to cut back on packaging weight and would have to introduce measures to meet targets. There is concern in the glass container industry that it will be unfairly targeted as glass is relatively heavy, compared with plastic or aluminium. ""Light doesn't mean sustainable,"" points out Vanessa Chesnot, from FEVE, the industry body which represents European glass container makers. ""Glass is 100% and infinitely recyclable... so, you can recycle a whisky bottle into another bottle, forever basically."" While it's true that glass recycling is an established process, making glass, even using recycled materials, is energy intensive. Most glass making involves burning natural gas to heat the raw materials in a furnace to 1,500C. Burning gas and heating the raw materials both produce CO2. The furnace I saw in action at Stoelzle Flaconnage uses about 191,000 kWh of energy per day - that's enough to supply the average UK household with energy for 12 years, the company says. It is considered a relatively small furnace; bigger plants would have furnaces twice the size. What's more, glass furnaces are never turned off, as it takes 12 days for a furnace to reach its operating temperature. Essentially a furnace will run all day, every day for its operational life - typically between ten and 12 years. So the glass industry is looking at switching from gas-fired furnaces to electricity. If the electricity comes from a sustainable source then the carbon footprint is slashed, which could go a long way to helping glass firms meet their goal to become net zero by 2050. Until recent years, running a furnace on electricity was considered too expensive. But electricity prices have become more competitive, so glass makers are looking at making the switch. Stoelzle Flaconnage, plans to have an electric furnace running in Knottingley by 2026. ""When I talked with my engineers, five years back, none of them would have ever come up with the idea of electric furnaces, because the mathematics didn't make sense. But this has changed now,"" says Mr Riss. However, electric furnaces might not be an option for companies that mass produce containers, like beer bottles. Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. ""For the time being it [electric furnace tech] is mainly being developed for niche markets or small furnaces producing high added value products,"" says FEVE's director of environment, health and safety, Fabrice Rivet. An extra challenge for electric glass furnaces is plugging them in. Connections to the electricity grid often have to be upgraded, to cope with the extra electricity supply. But the glass industry is attempting to clear some of those hurdles. In Obernkirchen, in northern Germany the world's most advanced hybrid glass furnace is undergoing trials, at Ardagh Glass Packaging (AGP). Partly funded by the German government and the EU, and made by Germany company Sorg, it is a large furnace with a capacity of 350 tonnes - enough to make about a million beer bottles a day. When fully operational it will run on 80% sustainable electricity and 20% gas, which AGP says will save 45,000 tonnes of CO2 per year. Engineers at AGP are giving the furnace the ultimate test - making amber-coloured glass, which involves tricky chemistry and is more difficult to control than making clear glass. ""There has been no successful demonstration of full-scale amber glass production in full electric melting. And if you wanted to combine the maximum of carbon footprint reduction with high cullet (recycled glass) and amber glass, then the hybrid is the logical choice,"" says Joris Goossens, research and development project manager at AGP. AGP says that once the hybrid furnace has proved itself, then the next step could be replacing the natural gas with hydrogen. Even if the industry does make the switch to electric or hybrid furnaces, it still has other problems to solve. The raw materials needed to make glass, including sand, soda ash and limestone, emit CO2 while they are being heated. They account for about 20% of the carbon emissions of the glass making process. The industry hopes that using more recycled glass in the production process will cut those emissions, but getting enough unwanted glass is a challenge. One academic who has studied the packaging industry says the answer might be just to use less glass. In a paper published in 2020, Alice Brock, a PhD researcher at Southampton University, compared the environmental impact of glass, plastic and aluminium containers and found that glass had the most detrimental impact on the environment. ""Even recycled glass has an incredibly high energy demand,"" she points out. ""The waste hierarchy is reduce, reuse, recycle. We should have less packaging, or we should be reusing packaging, or we should recycle if we have to,"" she says. More technology of business ",BBC,01/04/2024,"[""I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck."", ""Despite being empty, it's heavy."", 'I ask how much the bottle costs. ""', 'About £270,"" I\'m told.', 'I hand the bottle back - very carefully.', 'The bottle, designed for a rare whisky, is one of the creations of Stoelzle Flaconnage, based in Knottingley, West Yorkshire.', 'Glassware has been made on this site since 1871.', ""In 1994 the factory was taken over by Austria's Stoelzle Glass Group, which has focused the plant on making bottles for the spirits industry."", 'It can handle the design, bottle making and decoration all on one site.', 'Demand is strong, helped by the boom in gin making and demand for whisky in Asia.', 'When I visit, the plant is busy, lumps of molten glass are dropping into dozens of moulds, the glass still glowing orange from the heat of the furnace.', 'To stand out in a crowded market, customers want distinctive bottles, with patterned and sometimes coloured glass, elaborate labels and artwork. ""', 'What our clients are looking for is to have their product presented in an outstanding - sometimes iconic - way,"" says Thomas Riss, chief executive of Stoelzle Flaconnage.', 'While business is brisk, Stoelzle Flaconnage - and other glassmakers - are having to make some big decisions about the way they make glass containers.', 'The European Union is cracking down on packaging waste.', 'It wants packaging to be lighter so less material is needed and less fuel is needed for transportation.', 'It has been working on the Packaging & Packaging Waste Regulation (PPWR), which is in the final stages of approval.', 'Under the rules, member states would have to cut back on packaging weight and would have to introduce measures to meet targets.', 'There is concern in the glass container industry that it will be unfairly targeted as glass is relatively heavy, compared with plastic or aluminium. ""', 'Light doesn\'t mean sustainable,"" points out Vanessa Chesnot, from FEVE, the industry body which represents European glass container makers. ""', 'Glass is 100% and infinitely recyclable... so, you can recycle a whisky bottle into another bottle, forever basically.""', ""While it's true that glass recycling is an established process, making glass, even using recycled materials, is energy intensive."", 'Most glass making involves burning natural gas to heat the raw materials in a furnace to 1,500C. Burning gas and heating the raw materials both produce CO2.', ""The furnace I saw in action at Stoelzle Flaconnage uses about 191,000 kWh of energy per day - that's enough to supply the average UK household with energy for 12 years, the company says."", 'It is considered a relatively small furnace; bigger plants would have furnaces twice the size.', ""What's more, glass furnaces are never turned off, as it takes 12 days for a furnace to reach its operating temperature."", 'Essentially a furnace will run all day, every day for its operational life - typically between ten and 12 years.', 'So the glass industry is looking at switching from gas-fired furnaces to electricity.', 'If the electricity comes from a sustainable source then the carbon footprint is slashed, which could go a long way to helping glass firms meet their goal to become net zero by 2050.', 'Until recent years, running a furnace on electricity was considered too expensive.', 'But electricity prices have become more competitive, so glass makers are looking at making the switch.', 'Stoelzle Flaconnage, plans to have an electric furnace running in Knottingley by 2026. ""', ""When I talked with my engineers, five years back, none of them would have ever come up with the idea of electric furnaces, because the mathematics didn't make sense."", 'But this has changed now,"" says Mr Riss.', 'However, electric furnaces might not be an option for companies that mass produce containers, like beer bottles.', 'Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. ""', 'For the time being it [electric furnace tech] is mainly being developed for niche markets or small furnaces producing high added value products,"" says FEVE\'s director of environment, health and safety, Fabrice Rivet.', 'An extra challenge for electric glass furnaces is plugging them in.', 'Connections to the electricity grid often have to be upgraded, to cope with the extra electricity supply.', 'But the glass industry is attempting to clear some of those hurdles.', ""In Obernkirchen, in northern Germany the world's most advanced hybrid glass furnace is undergoing trials, at Ardagh Glass Packaging (AGP)."", 'Partly funded by the German government and the EU, and made by Germany company Sorg, it is a large furnace with a capacity of 350 tonnes - enough to make about a million beer bottles a day.', 'When fully operational it will run on 80% sustainable electricity and 20% gas, which AGP says will save 45,000 tonnes of CO2 per year.', 'Engineers at AGP are giving the furnace the ultimate test - making amber-coloured glass, which involves tricky chemistry and is more difficult to control than making clear glass. ""', 'There has been no successful demonstration of full-scale amber glass production in full electric melting.', 'And if you wanted to combine the maximum of carbon footprint reduction with high cullet (recycled glass) and amber glass, then the hybrid is the logical choice,"" says Joris Goossens, research and development project manager at AGP.', 'AGP says that once the hybrid furnace has proved itself, then the next step could be replacing the natural gas with hydrogen.', 'Even if the industry does make the switch to electric or hybrid furnaces, it still has other problems to solve.', 'The raw materials needed to make glass, including sand, soda ash and limestone, emit CO2 while they are being heated.', 'They account for about 20% of the carbon emissions of the glass making process.', 'The industry hopes that using more recycled glass in the production process will cut those emissions, but getting enough unwanted glass is a challenge.', 'One academic who has studied the packaging industry says the answer might be just to use less glass.', 'In a paper published in 2020, Alice Brock, a PhD researcher at Southampton University, compared the environmental impact of glass, plastic and aluminium containers and found that glass had the most detrimental impact on the environment. ""', 'Even recycled glass has an incredibly high energy demand,"" she points out. ""', 'The waste hierarchy is reduce, reuse, recycle.', 'We should have less packaging, or we should be reusing packaging, or we should recycle if we have to,"" she says.', 'More technology of business']",0.1202638344950185,I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck.,So the glass industry is looking at switching from gas-fired furnaces to electricity.,0.451889619231224,"Demand is strong, helped by the boom in gin making and demand for whisky in Asia.","Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. """,2024-04-12 -Jamie Dimon: Bank boss warns US interest rates could rise to 8%,https://www.bbc.co.uk/news/business-68769561,2024-04-09T09:44:35.000Z,"The boss of one of the world's biggest banks has warned US interest rates could climb to 8%. Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of ""persistent inflationary pressures"". Central banks around the world have been busy raising rates in a bid to dampen rising prices. But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year. Markets are pricing in two quarter-point rate cuts in 2024. In his annual letter to shareholders, Mr Dimon said that the bank was ready for a ""very broad range"" of rates, from 2% to 8% or even higher, potentially pushed up because of high government spending and the need to curb price rises. Mr Dimon's comments come as US interest rates rest in the range of 5.25% to 5.5% - higher than they have been for more than 20 years. By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices. Mr Dimon has long warned that investors may be overly confident in their bet that interest rates will rapidly fall back to lower levels. Last year he suggested rates could hit 7%. ""All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year's letter. The US Federal Reserve will make its next decision on which way interest rates will move at the end of the month. The expectation is that it will hold rates at the current level with the first cut potentially coming in June. The European Central Bank is also expected to make its first cut in June. On Tuesday, some analysts questioned, however, whether rate cuts lie in store for the summer in the US. To date, higher borrowing costs have not been the big drag on the US economy that they were expected to be. Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace. The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts. In a speech delivered at Stanford University at the beginning of April, the Federal Reserve chair Jay Powell said: ""If the economy evolves broadly as we expect, most Federal Open Market Committee participants see it as likely to be appropriate to begin lowering the policy rate at some point this year."" Mr Dimon has been chief executive of JPMorgan Chase since the end of 2005. One year later he also became chairman and president of the bank. He is the longest-serving chief executive of a major investment bank. In his letter to shareholders, he also said that he sees the United States as being at a ""pivotal moment"" in the midst of global uncertainty. ",BBC,09/04/2024,"[""The boss of one of the world's biggest banks has warned US interest rates could climb to 8%."", 'Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of ""persistent inflationary pressures"".', 'Central banks around the world have been busy raising rates in a bid to dampen rising prices.', 'But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year.', 'Markets are pricing in two quarter-point rate cuts in 2024.', 'In his annual letter to shareholders, Mr Dimon said that the bank was ready for a ""very broad range"" of rates, from 2% to 8% or even higher, potentially pushed up because of high government spending and the need to curb price rises.', ""Mr Dimon's comments come as US interest rates rest in the range of 5.25% to 5.5% - higher than they have been for more than 20 years."", 'By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices.', 'Mr Dimon has long warned that investors may be overly confident in their bet that interest rates will rapidly fall back to lower levels.', 'Last year he suggested rates could hit 7%. ""', 'All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year\'s letter.', 'The US Federal Reserve will make its next decision on which way interest rates will move at the end of the month.', 'The expectation is that it will hold rates at the current level with the first cut potentially coming in June.', 'The European Central Bank is also expected to make its first cut in June.', 'On Tuesday, some analysts questioned, however, whether rate cuts lie in store for the summer in the US.', 'To date, higher borrowing costs have not been the big drag on the US economy that they were expected to be.', 'Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace.', 'The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts.', 'In a speech delivered at Stanford University at the beginning of April, the Federal Reserve chair Jay Powell said: ""If the economy evolves broadly as we expect, most Federal Open Market Committee participants see it as likely to be appropriate to begin lowering the policy rate at some point this year.""', 'Mr Dimon has been chief executive of JPMorgan Chase since the end of 2005.', 'One year later he also became chairman and president of the bank.', 'He is the longest-serving chief executive of a major investment bank.', 'In his letter to shareholders, he also said that he sees the United States as being at a ""pivotal moment"" in the midst of global uncertainty.']",0.041136728252818,"By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices.","Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace.",0.376718323964339,"The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts.","All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year's letter.",2024-04-12 -The rise of magnets – from surgery to outer space,https://www.bbc.co.uk/news/business-68629800,2024-04-04T23:09:15.000Z,"The tiny, tweezer-like set of metal jaws was in place. Gently gripping the patient's gall bladder. But the grasping device was not physically connected to anything - it appeared to be levitating inside the person's body. In reality, the jaws were being controlled remotely by a robot arm wielding a special magnet. ""We could see the critical structures, the blood vessels,"" says Dr Matthew Kroh of the Cleveland Clinic in Ohio. It wasn't long before he had removed the troublesome gall bladder with the help of his robotic assistant. This was one of two dozen or so similar surgeries he and his team have performed in recent months using their high-tech system. ""It allows us to do a very common operation in a less invasive way,"" he says, explaining that fewer incisions are now required for procedures such as this. But there are many other emerging applications that also use carefully manufactured magnets. Permanent magnets, the kind that keep colourful souvenirs stuck to the door of your fridge, might seem a fairly mature, well-established technology. They've been used for centuries, after all. And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before. This is because, increasingly, magnets are used in all kinds of ascendant technologies - including EV motors and wind turbines. They are, therefore, crucial for electrification. However, magnets are generally made using rare earth elements, the products of dirty mining operations. And, at present, China massively dominates global permanent magnet production, with more than 90% market share. Many argue that we need cleaner and more widely distributed magnet manufacturing facilities. The future, they say, depends on it. ""My job is brilliant,"" says Matthew Swallow, technical product manager for Bunting Magnetics in the UK. ""Nobody else, I don't think, gets involved in so many things."" His firm makes magnets that are used in all kinds of systems - from cochlear implants, to emergency brakes on rollercoasters, including at Alton Towers. Bunting Magnetics has even supplied magnets to Nasa. Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved. For such magnets designed to cope with temperatures up to 200C, a grade of N35 used to be the maximum. But now N52 grade versions are commercially available. ""You can literally make the magnet 60% less massive and get the same level of performance,"" explains Mr Swallow. In an electric motor, a magnetic field helps an internal coil to spin. This might be used to drive an axle and turn the wheels of an electric car, for example. Higher grade magnets mean motors that run more efficiently and cars that weigh slightly less overall. The careful addition of a small amount of dysprosium, another rare earth element, is one way to improve a magnet's efficiency. One reason why China dominates global production of these magnets is financial incentives, says Ross Embleton, senior analyst for metals & mining - rare earths at Wood Mackenzie. Rare earth permanent magnet material is subject to a 13% VAT discount on export from the country, and provincial governments give support on energy costs, for example, which also helps buoy up magnet-making facilities. ""It's a really, really challenging industry to compete in if you're outside of China,"" says Mr Embleton. That hasn't stopped some from trying. US firm Niron Magnetics says it has managed to make good quality magnets without rare earths. Instead, they use iron and nitrogen to make iron nitride magnets. This relies on getting the iron nitride to take on a specific crystalline structure, which generates magnetic fields. Chief executive Jonathan Rowntree declines to explain his company's production techniques in detail, but he says Niron has already produced working magnets. The first of these will be used in speakers. Magnetic field strength is measured in terms of teslas, and Niron's magnets are currently at one tesla. Mr Rowntree says it should be possible to make significantly more powerful magnets, up to 2.4 teslas, with iron nitride. Alternatively, recycling magnets would also be much better for the environment compared with making new rare earth magnets from scratch. In the UK, the University of Birmingham has developed a method for extracting rare earth alloys from old electric motors and computer hard drives, for example. A spin out company, HyProMag, has now successfully extracted rare earths using the technology, and aims to begin commercial production of magnets using such material later this year. Meanwhile, US firm Noveon Magnetics says it has developed its own method for magnet recycling. When asked about the process, and the grades of magnets produced, chief commercial officer Peter Afiuny declined to go into details, except to say that a small amount of alloy is mixed with recovered material to achieve the desired result. The whole process is about 40% more efficient than traditional virgin magnet production. It can be difficult to know the quality of an old magnet from a disused consumer electronics device, however, says Mr Embleton. And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove. But gradually, as early generations of EV motors and wind turbines reach the end of their lifespans in the coming years, more magnetic material is expected to become available for recycling. ""There's a bit of a delay there waiting for that material to come back again,"" says Mr Embleton. Companies have an opportunity to perfect their recycling processes in the meantime. More technology of business Niron's targeting of the audio speakers market is interesting, says Nicola Morley at the University of Sheffield. ""It means they think they can produce them cheaply - that market has other cheap permanent magnets in it,"" she explains. Within the last decade, the development of magnet technology has really begun to accelerate, adds Prof Morley. And Mr Swallow cites other emerging applications that sound quite sci-fi - including magnets mounted on satellites to scoop up space debris orbiting Earth. Dr Kroh says he is looking forward to even more sophisticated magnets that will make other surgeries less invasive than before. Chest surgery involving the lungs, or endoscopies, for instance, could one day be performed with the help of such technology. ""It's almost limitless,"" he says. ""This is just the beginning."" ",BBC,04/04/2024,"['The tiny, tweezer-like set of metal jaws was in place.', ""Gently gripping the patient's gall bladder."", ""But the grasping device was not physically connected to anything - it appeared to be levitating inside the person's body."", 'In reality, the jaws were being controlled remotely by a robot arm wielding a special magnet. ""', 'We could see the critical structures, the blood vessels,"" says Dr Matthew Kroh of the Cleveland Clinic in Ohio.', ""It wasn't long before he had removed the troublesome gall bladder with the help of his robotic assistant."", 'This was one of two dozen or so similar surgeries he and his team have performed in recent months using their high-tech system. ""', 'It allows us to do a very common operation in a less invasive way,"" he says, explaining that fewer incisions are now required for procedures such as this.', 'But there are many other emerging applications that also use carefully manufactured magnets.', 'Permanent magnets, the kind that keep colourful souvenirs stuck to the door of your fridge, might seem a fairly mature, well-established technology.', ""They've been used for centuries, after all."", 'And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before.', 'This is because, increasingly, magnets are used in all kinds of ascendant technologies - including EV motors and wind turbines.', 'They are, therefore, crucial for electrification.', 'However, magnets are generally made using rare earth elements, the products of dirty mining operations.', 'And, at present, China massively dominates global permanent magnet production, with more than 90% market share.', 'Many argue that we need cleaner and more widely distributed magnet manufacturing facilities.', 'The future, they say, depends on it. ""', 'My job is brilliant,"" says Matthew Swallow, technical product manager for Bunting Magnetics in the UK. ""', 'Nobody else, I don\'t think, gets involved in so many things.""', 'His firm makes magnets that are used in all kinds of systems - from cochlear implants, to emergency brakes on rollercoasters, including at Alton Towers.', 'Bunting Magnetics has even supplied magnets to Nasa.', 'Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved.', 'For such magnets designed to cope with temperatures up to 200C, a grade of N35 used to be the maximum.', 'But now N52 grade versions are commercially available. ""', 'You can literally make the magnet 60% less massive and get the same level of performance,"" explains Mr Swallow.', 'In an electric motor, a magnetic field helps an internal coil to spin.', 'This might be used to drive an axle and turn the wheels of an electric car, for example.', 'Higher grade magnets mean motors that run more efficiently and cars that weigh slightly less overall.', ""The careful addition of a small amount of dysprosium, another rare earth element, is one way to improve a magnet's efficiency."", 'One reason why China dominates global production of these magnets is financial incentives, says Ross Embleton, senior analyst for metals & mining - rare earths at Wood Mackenzie.', 'Rare earth permanent magnet material is subject to a 13% VAT discount on export from the country, and provincial governments give support on energy costs, for example, which also helps buoy up magnet-making facilities. ""', 'It\'s a really, really challenging industry to compete in if you\'re outside of China,"" says Mr Embleton.', ""That hasn't stopped some from trying."", 'US firm Niron Magnetics says it has managed to make good quality magnets without rare earths.', 'Instead, they use iron and nitrogen to make iron nitride magnets.', 'This relies on getting the iron nitride to take on a specific crystalline structure, which generates magnetic fields.', ""Chief executive Jonathan Rowntree declines to explain his company's production techniques in detail, but he says Niron has already produced working magnets."", 'The first of these will be used in speakers.', ""Magnetic field strength is measured in terms of teslas, and Niron's magnets are currently at one tesla."", 'Mr Rowntree says it should be possible to make significantly more powerful magnets, up to 2.4 teslas, with iron nitride.', 'Alternatively, recycling magnets would also be much better for the environment compared with making new rare earth magnets from scratch.', 'In the UK, the University of Birmingham has developed a method for extracting rare earth alloys from old electric motors and computer hard drives, for example.', 'A spin out company, HyProMag, has now successfully extracted rare earths using the technology, and aims to begin commercial production of magnets using such material later this year.', 'Meanwhile, US firm Noveon Magnetics says it has developed its own method for magnet recycling.', 'When asked about the process, and the grades of magnets produced, chief commercial officer Peter Afiuny declined to go into details, except to say that a small amount of alloy is mixed with recovered material to achieve the desired result.', 'The whole process is about 40% more efficient than traditional virgin magnet production.', 'It can be difficult to know the quality of an old magnet from a disused consumer electronics device, however, says Mr Embleton.', 'And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove.', 'But gradually, as early generations of EV motors and wind turbines reach the end of their lifespans in the coming years, more magnetic material is expected to become available for recycling. ""', 'There\'s a bit of a delay there waiting for that material to come back again,"" says Mr Embleton.', 'Companies have an opportunity to perfect their recycling processes in the meantime.', 'More technology of business Niron\'s targeting of the audio speakers market is interesting, says Nicola Morley at the University of Sheffield. ""', 'It means they think they can produce them cheaply - that market has other cheap permanent magnets in it,"" she explains.', 'Within the last decade, the development of magnet technology has really begun to accelerate, adds Prof Morley.', 'And Mr Swallow cites other emerging applications that sound quite sci-fi - including magnets mounted on satellites to scoop up space debris orbiting Earth.', 'Dr Kroh says he is looking forward to even more sophisticated magnets that will make other surgeries less invasive than before.', 'Chest surgery involving the lungs, or endoscopies, for instance, could one day be performed with the help of such technology. ""', 'It\'s almost limitless,"" he says. ""', 'This is just the beginning.""']",0.1639147133339751,"And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before.","And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove.",0.988849639892578,"Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved.",,2024-04-12 -Ex-Post Office Alan Cook boss regrets 'hand in the till' email about sub-postmasters,https://www.bbc.co.uk/news/business-68792632,2024-04-12T11:14:46.000Z,"Former Post Office managing director Alan Cook has said he will ""regret for the rest of my life"" an email in which he wrote that subpostmasters had their ""hands in the till"". ""What I wrote in that email was unacceptable"", Mr Cook told an inquiry into the Horizon IT scandal. The email, sent in 2009 to the Royal Mail Group's press officer, said the IT was ""stable and reliable"". More than 900 sub-postmasters were wrongly prosecuted due to the software. Mr Cook was in charge of the Post Office from 2006 to 2010. Writing to Mary Fagan, he had said: ""For some strange reason, there is a steadily building nervousness about the accuracy of the Horizon system and the press are on it now as well."" He wrote that the system had been stable and reliable for many years and there was ""absolutely no logical reason why these fears should now develop"". ""My instincts tell me that, in a recession, subbies [sub-postmasters] with their hand in the till choose to blame the technology when they are found to be short of cash."" During the inquiry, Mr Cook also said that he did not realise the organisation itself was prosecuting victims of the Horizon IT scandal. Instead, he thought it was the police or CPS, he told the inquiry into the wrongful prosecutions of hundreds of sub-postmasters due to faulty software. He told the inquiry he did not know that prosecutions were being brought solely by the Post Office until 2009. He said when he was told cases ""went to court"" he presumed that the police had been involved, and only found out later that roughly two thirds of cases against Horizon victims had been brought by the Post Office. ""One of my regrets is that I didn't pick up on that earlier,"" he said. The involvement of the Post Office in prosecuting its own staff created a risk that it wasn't taking independent decisions, he said. Mr Cook added that there would have been a ""higher bar"" that needed to be reached had the prosecutions been independent. He said it was a ""regret"" that he had misunderstood notes and minutes that had made it clear that the Post Office carried out its own prosecutions. ""It never occurred to me that the Post Office was the sole arbiter of whether or not that criminal prosecution would proceed,"" he said. During Mr Cook's time at the top, the Post Office secured 292 Horizon convictions in England and Wales. These years saw some of the highest numbers of convictions using Horizon data, according to evidence submitted to the inquiry by Simon Recaldin, director of the Post Office's remediation unit. More than 900 sub-postmasters were wrongly prosecuted for offences including theft and false accounting after their books didn't balance due to errors in the Horizon software. Between 1999 and 2015 the Post Office itself took many cases to court, prosecuting 700 people. Similarly to Mr Cook, former chief executive of the Royal Mail Group Adam Crozier also said he was not aware that lawyers within the group conducted prosecutions. He told the inquiry he did not have a ""developed understanding"" of how Royal Mail carried out prosecutions. Adam Crozier was appointed chief executive officer of Royal Mail on 1 Feb 2003, and left on 31 March 2010. Royal Mail was the owner of the Post Office during that time. According to evidence submitted to the Horizon Inquiry by Simon Recaldin, Director of the Post Office's remediation unit, these years saw some of the highest numbers of convictions using Horizon evidence. He was asked: ""Is the truth of the matter that in your position you did not have a developed understanding of the extent to which Royal Mail prosecuted or the way in which things were or were not carried into effect?"" Mr Crozier responded: ""I'm not a lawyer. I would not claim it is my area of expertise"". He also said he was ""not in the slightest"" involved in the procurement of Horizon as the Post Office's IT system. Former sub-postmaster Janet Skinner was given a nine-month sentence in 2007 over an alleged shortfall of £59,000 from her Post Office branch in Bransholme, Hull. She served three months in prison before being released with an electronic tag, but eventually had her conviction quashed by the Court of Appeal in April 2021. Ms Skinner told the BBC executives like Alan Cook should have been aware of what was happening in the business. ""He had a high position, and you're telling me that he wasn't aware of what was going on in the business?"" She said if Mr Cook didn't understand that the Post Office had been bringing prosecutions ""he shouldn't have had the position he was in"". ""He was getting paid a lot of money to overview what was going on in the business, and therefore he should have known what was going on,"" she added. ",BBC,12/04/2024,"['Former Post Office managing director Alan Cook has said he will ""regret for the rest of my life"" an email in which he wrote that subpostmasters had their ""hands in the till"". ""', 'What I wrote in that email was unacceptable"", Mr Cook told an inquiry into the Horizon IT scandal.', 'The email, sent in 2009 to the Royal Mail Group\'s press officer, said the IT was ""stable and reliable"".', 'More than 900 sub-postmasters were wrongly prosecuted due to the software.', 'Mr Cook was in charge of the Post Office from 2006 to 2010.', 'Writing to Mary Fagan, he had said: ""For some strange reason, there is a steadily building nervousness about the accuracy of the Horizon system and the press are on it now as well.""', 'He wrote that the system had been stable and reliable for many years and there was ""absolutely no logical reason why these fears should now develop"". ""', 'My instincts tell me that, in a recession, subbies [sub-postmasters] with their hand in the till choose to blame the technology when they are found to be short of cash.""', 'During the inquiry, Mr Cook also said that he did not realise the organisation itself was prosecuting victims of the Horizon IT scandal.', 'Instead, he thought it was the police or CPS, he told the inquiry into the wrongful prosecutions of hundreds of sub-postmasters due to faulty software.', 'He told the inquiry he did not know that prosecutions were being brought solely by the Post Office until 2009.', 'He said when he was told cases ""went to court"" he presumed that the police had been involved, and only found out later that roughly two thirds of cases against Horizon victims had been brought by the Post Office. ""', 'One of my regrets is that I didn\'t pick up on that earlier,"" he said.', ""The involvement of the Post Office in prosecuting its own staff created a risk that it wasn't taking independent decisions, he said."", 'Mr Cook added that there would have been a ""higher bar"" that needed to be reached had the prosecutions been independent.', 'He said it was a ""regret"" that he had misunderstood notes and minutes that had made it clear that the Post Office carried out its own prosecutions. ""', 'It never occurred to me that the Post Office was the sole arbiter of whether or not that criminal prosecution would proceed,"" he said.', ""During Mr Cook's time at the top, the Post Office secured 292 Horizon convictions in England and Wales."", ""These years saw some of the highest numbers of convictions using Horizon data, according to evidence submitted to the inquiry by Simon Recaldin, director of the Post Office's remediation unit."", ""More than 900 sub-postmasters were wrongly prosecuted for offences including theft and false accounting after their books didn't balance due to errors in the Horizon software."", 'Between 1999 and 2015 the Post Office itself took many cases to court, prosecuting 700 people.', 'Similarly to Mr Cook, former chief executive of the Royal Mail Group Adam Crozier also said he was not aware that lawyers within the group conducted prosecutions.', 'He told the inquiry he did not have a ""developed understanding"" of how Royal Mail carried out prosecutions.', 'Adam Crozier was appointed chief executive officer of Royal Mail on 1 Feb 2003, and left on 31 March 2010.', 'Royal Mail was the owner of the Post Office during that time.', ""According to evidence submitted to the Horizon Inquiry by Simon Recaldin, Director of the Post Office's remediation unit, these years saw some of the highest numbers of convictions using Horizon evidence."", 'He was asked: ""Is the truth of the matter that in your position you did not have a developed understanding of the extent to which Royal Mail prosecuted or the way in which things were or were not carried into effect?""', 'Mr Crozier responded: ""I\'m not a lawyer.', 'I would not claim it is my area of expertise"".', 'He also said he was ""not in the slightest"" involved in the procurement of Horizon as the Post Office\'s IT system.', 'Former sub-postmaster Janet Skinner was given a nine-month sentence in 2007 over an alleged shortfall of £59,000 from her Post Office branch in Bransholme, Hull.', 'She served three months in prison before being released with an electronic tag, but eventually had her conviction quashed by the Court of Appeal in April 2021.', 'Ms Skinner told the BBC executives like Alan Cook should have been aware of what was happening in the business. ""', 'He had a high position, and you\'re telling me that he wasn\'t aware of what was going on in the business?""', 'She said if Mr Cook didn\'t understand that the Post Office had been bringing prosecutions ""he shouldn\'t have had the position he was in"". ""', 'He was getting paid a lot of money to overview what was going on in the business, and therefore he should have known what was going on,"" she added.']",-0.0987238046257799,"It never occurred to me that the Post Office was the sole arbiter of whether or not that criminal prosecution would proceed,"" he said.",More than 900 sub-postmasters were wrongly prosecuted for offences including theft and false accounting after their books didn't balance due to errors in the Horizon software.,-0.1382952988147735,"He wrote that the system had been stable and reliable for many years and there was ""absolutely no logical reason why these fears should now develop"". ""","Writing to Mary Fagan, he had said: ""For some strange reason, there is a steadily building nervousness about the accuracy of the Horizon system and the press are on it now as well.""",2024-04-12 -Big Tech’s grip on social media is a growing problem,https://edition.cnn.com/2024/04/09/tech/meta-social-media-nightcap/index.html," - Published - 8:00 AM EDT, Tue April 9, 2024 - ","A single trillion-dollar company controls Facebook, Instagram, Threads and WhatsApp. That concentration of digital ownership can create real-world harm, as a recent censorship dispute with Meta lays bare. - - Last week, Meta apologized after blocking links by a nonprofit newspaper and an independent journalist who published a report that criticized Facebook and accused it of suppressing posts related to climate change. Meta denied that it was censoring content and blamed an unspecified “security issue.” - - Every single link — about 6,000 stories — that the Kansas Reflector had ever posted to Facebook disappeared from the platform on Thursday. For seven hours, anyone trying to post a Reflector link was met with a warning that the the site posed a security risk. - - That’s seven hours during which the Reflector staff had no idea why Meta — a tech behemoth no major publisher can ignore, given its grip on the most world’s most popular social sites — had blown up not only years worth of digital labor but also dinged the credibility of the local paper, whose audience was told, erroneously, that its links contained potential malware. - - By the end of the day, almost all of the Reflector’s links had come back online, save for one: an opinion piece that criticized Facebook’s policies around paid promotions. - - To test theory that that the Reflector’s domain had some kind of security issue, a Brooklyn-based journalist, Marisa Kabas, asked for permission to republish the text of that column on her own website. - - But sure enough, when Kabas posted her own link to the column on Threads, Meta flagged it as malicious content and took it down. Then Meta nuked everything her website had ever published on its platforms, a block that lasted at least two hours, Kabas told CNN. - - Meta didn’t respond CNN’s request for more information about the security issue. The editor-in-chief of the Kansas Reflector, Sherman Smith, wrote on Friday that Facebook spokesperson Andy Stone “wouldn’t elaborate on how the mistake happened and said there would be no further explanation.” - - “What was the security error? We don’t know,” Kabas wrote in her recounting of the situation. “What caused the links to be blocked? We don’t know.” And while all of the links have been restored “our trust has been undermined at a time when people need little reason to distrust the news.” - - The debacle helps illustrate one of the more pernicious issues of our Extremely Online Era that’s often glossed over in a morass of boring regulatory jargon: the concentration of power in social media. - - One of the ironies of the situation is that the first public statement from Meta came Thursday evening on X, site formerly known as Twitter. Naturally, Kabas and the Reflector staff had to move their complaints to one of the few public platforms not operated by Meta, which left mostly X and its smaller rival Bluesky. - - “Anyone involved this past week now understands that putting our civic conversation into the hands of a single for-profit business generates profound risks for society as a whole,” wrote Clay Wirestone, the Reflector’s opinion editor. - - Of course, Meta is regularly accused of censoring content by people across the political spectrum — people who often misunderstand that Meta is a business and not the Free Speech Police. The difference here is that Meta acknowledged it made a mistake and ultimately fixed it, albeit in a frustratingly opaque way that left content creators with a lot of questions. - - Meta controls a whole bunch of the social media ecosystem, and that means there aren’t a lot of competitors to keep it honest. Meanwhile, all of media relies on it because content creators have to get in front of readers if they want to survive. - - With nearly 4 billion monthly active users on its platforms — Facebook alone accounts for 3 billion — it’s not hard to see why some folks want to break Meta up, or at the very least create stronger regulations keep it from elbowing everyone else out the market. - - Of course, others argue that breaking up Meta wouldn’t necessarily solve the biggest problems with social media — namely that it perpetuates misinformation at an unprecedented speed and scope, wrecks teens’ mental health and creates toxic echo chambers that undermine the promise of democracy. And if you bust up Meta, there may be no stopping another tech giant from filling the void. - - We don’t know what happened within Meta to trigger an erroneous block of legitimate news sources last week. But what we do know is that the company’s control over what we see online can have profound effects on the real world. When Meta decides to dramatically reduce referral traffic to media outlets, as it did last year, there’s little anyone outside of Meta can do to push back.",CNN,09/04/2024,"['A single trillion-dollar company controls Facebook, Instagram, Threads and WhatsApp.', 'That concentration of digital ownership can create real-world harm, as a recent censorship dispute with Meta lays bare.', 'Last week, Meta apologized after blocking links by a nonprofit newspaper and an independent journalist who published a report that criticized Facebook and accused it of suppressing posts related to climate change.', 'Meta denied that it was censoring content and blamed an unspecified “security issue.”', 'Every single link — about 6,000 stories — that the Kansas Reflector had ever posted to Facebook disappeared from the platform on Thursday.', 'For seven hours, anyone trying to post a Reflector link was met with a warning that the the site posed a security risk.', 'That’s seven hours during which the Reflector staff had no idea why Meta — a tech behemoth no major publisher can ignore, given its grip on the most world’s most popular social sites — had blown up not only years worth of digital labor but also dinged the credibility of the local paper, whose audience was told, erroneously, that its links contained potential malware.', 'By the end of the day, almost all of the Reflector’s links had come back online, save for one: an opinion piece that criticized Facebook’s policies around paid promotions.', 'To test theory that that the Reflector’s domain had some kind of security issue, a Brooklyn-based journalist, Marisa Kabas, asked for permission to republish the text of that column on her own website.', 'But sure enough, when Kabas posted her own link to the column on Threads, Meta flagged it as malicious content and took it down.', 'Then Meta nuked everything her website had ever published on its platforms, a block that lasted at least two hours, Kabas told CNN.', 'Meta didn’t respond CNN’s request for more information about the security issue.', 'The editor-in-chief of the Kansas Reflector, Sherman Smith,wrote on Fridaythat Facebook spokesperson Andy Stone “wouldn’t elaborate on how the mistake happened and said there would be no further explanation.”', '“What was the security error?', 'We don’t know,” Kabas wrote in her recounting of the situation. “', 'What caused the links to be blocked?', 'We don’t know.”', 'And while all of the links have been restored “our trust has been undermined at a time when people need little reason to distrust the news.”', 'The debacle helps illustrate one of the more pernicious issues of our Extremely Online Era that’s often glossed over in a morass of boring regulatory jargon: the concentration of power in social media.', 'One of the ironies of the situation is that the first public statement from Meta came Thursday evening on X, site formerly known as Twitter.', 'Naturally, Kabas and the Reflector staff had to move their complaints to one of the few public platforms not operated by Meta, which left mostly X and its smaller rival Bluesky.', '“Anyone involved this past week now understands that putting our civic conversation into the hands of a singlefor-profit businessgenerates profound risks for society as a whole,” wrote Clay Wirestone, the Reflector’s opinion editor.', 'Of course, Meta is regularly accused of censoring content by people across the political spectrum — people who often misunderstand that Meta is a business and not the Free Speech Police.', 'The difference here is that Meta acknowledged it made a mistake and ultimately fixed it, albeit in a frustratingly opaque way that left content creators with a lot of questions.', 'Meta controls a whole bunch of the social media ecosystem, and that means there aren’t a lot of competitors to keep it honest.', 'Meanwhile, all of media relies on it because content creators have to get in front of readers if they want to survive.', 'With nearly 4 billion monthly active users on its platforms — Facebook alone accounts for 3 billion — it’s not hard to see why some folks want to break Meta up, or at the very least create stronger regulations keep it from elbowing everyone else out the market.', 'Of course, others argue that breaking up Meta wouldn’t necessarily solve the biggest problems with social media — namely that it perpetuates misinformation at an unprecedented speed and scope, wrecks teens’ mental health and creates toxic echo chambers that undermine the promise of democracy.', 'And if you bust up Meta, there may be no stopping another tech giant from filling the void.', 'We don’t know what happened within Meta to trigger an erroneous block of legitimate news sources last week.', 'But what we do know is that the company’s control over what we see online can have profound effects on the real world.', 'When Meta decides to dramatically reduce referral traffic to media outlets, as it did last year, there’s little anyone outside of Meta can do to push back.']",-0.1238192958235111,"With nearly 4 billion monthly active users on its platforms — Facebook alone accounts for 3 billion — it’s not hard to see why some folks want to break Meta up, or at the very least create stronger regulations keep it from elbowing everyone else out the market.","Of course, Meta is regularly accused of censoring content by people across the political spectrum — people who often misunderstand that Meta is a business and not the Free Speech Police.",-0.7324832826852798,And while all of the links have been restored “our trust has been undermined at a time when people need little reason to distrust the news.”,"That’s seven hours during which the Reflector staff had no idea why Meta — a tech behemoth no major publisher can ignore, given its grip on the most world’s most popular social sites — had blown up not only years worth of digital labor but also dinged the credibility of the local paper, whose audience was told, erroneously, that its links contained potential malware.",2024-04-12 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-04-12 -Americans’ attitudes toward the economy hold steady despite disappointing inflation reports,https://edition.cnn.com/2024/04/12/economy/us-consumer-sentiment-april/index.html," - Updated - 11:01 AM EDT, Fri April 12, 2024 - ","Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. That’s striking because disappointing inflation reports have thrown Wall Street into a tailspin. - - The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading, edging lower to a reading of 77.9 from 79.4. Sentiment is well above the record lows seen in the summer of 2022, when inflation reached 40-year highs, though it remains below pre-pandemic levels. - - “Sentiment moved sideways for the fourth straight month, as consumers perceived few meaningful developments in the economy,” said Joanne Hsu, the university’s Surveys of Consumers director, in a release. - - “Overall, consumers are reserving judgment about the economy in light of the upcoming election, which, in the view of many consumers, could have a substantial impact on the trajectory of the economy,” she added. - - Meanwhile, US consumers’ expectations of inflation rates remains mostly in check, ticking up only slightly in April. The Federal Reserve cares whether or not Americans have faith that inflation will eventually return to levels they’re used to. Still, firmer-than-expected inflation readings did have some impact on Americans’ perceptions, albeit modest. - - “Greater dissatisfaction with the pace of disinflation weighed on consumers’ assessments of current and future economic conditions. This is partly due to higher gasoline prices, but also the slower broader progress as seen in the recent CPI reports,” Oren Klachkin, financial market economist at Nationwide, said in a note Friday. - - At the end of last year, investors were full of hope that the Fed would end up cutting rates as many as six times in 2024, starting in March. Then the Consumer Price Index for January came in hotter than expected, triggering a selloff that week and pushing back the market’s expectations for the first rate cut. - - It was the same story for February’s CPI. Then it happened again this week for the March report. Consumer prices were 3.5% higher in March from a year earlier, a much bigger increase than February’s 3.2% and above what economists were forecasting. On a monthly basis, consumer prices rose 0.4%, also above expectations. - - That sent a shiver up Wall Street’s spine. Stocks dropped sharply after the March CPI was released Wednesday as bond yields spiked to the highest level since November. Major Wall Street banks also recalibrated their forecasts on rate cuts. - - Goldman Sachs now estimates that the first rate cut will come in July, instead of June; and Bank of America now expects the first cut in December instead of June. - - “We continue to expect cuts at a quarterly pace after that, which now implies two cuts in 2024 in July and November,” Goldman Sachs’s chief economist, Jan Hatzius, said in a note. - - Everyday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling. Still, they’re not feeling any peppier about it, either. - - Pessimistic moods about the economy have been a persistent headache for President Joe Biden as he campaigns for reelection. Biden is preparing a campaign swing through Pennsylvania next week to make his case for voters on how he plans to tackle economic issues. - - Biden kicks off his tour through the state Tuesday with a major speech on the economy in his hometown of Scranton, Pennsylvania, campaign officials told CNN. - - “The address will drive home a simple question: Do you think the tax code should work for rich people or for the middle class?” a campaign official told CNN. “The president has made it clear what he thinks the answer is, and so has Donald Trump.”",CNN,12/04/2024,"['Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either.', 'That’s striking because disappointing inflation reports have thrown Wall Street into a tailspin.', 'The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading, edging lower to a reading of 77.9 from 79.4.', 'Sentiment is well above the record lows seen in the summer of 2022, when inflation reached 40-year highs, though it remains below pre-pandemic levels.', '“Sentiment moved sideways for the fourth straight month, as consumers perceived few meaningful developments in the economy,” said Joanne Hsu, the university’s Surveys of Consumers director, in a release.', '“Overall, consumers are reserving judgment about the economy in light of the upcoming election, which, in the view of many consumers, could have a substantial impact on the trajectory of the economy,” she added.', 'Meanwhile, US consumers’ expectations of inflation rates remains mostly in check, ticking up only slightly in April.', 'The Federal Reserve cares whether or not Americans have faith that inflation will eventually return to levels they’re used to.', 'Still, firmer-than-expected inflation readings did have some impact on Americans’ perceptions, albeit modest.', '“Greater dissatisfaction with the pace of disinflation weighed on consumers’ assessments of current and future economic conditions.', 'This is partly due to higher gasoline prices, but also the slower broader progress as seen in the recent CPI reports,” Oren Klachkin, financial market economist at Nationwide, said in a note Friday.', 'At the end of last year, investors were full of hope that the Fed would end up cutting rates as many as six times in 2024, starting in March.', 'Then the Consumer Price Index for January came in hotter than expected, triggering a selloff that week and pushing back the market’s expectations for the first rate cut.', 'It was the same story for February’s CPI.', 'Then it happened again this week for the March report.', 'Consumer prices were 3.5% higher in March from a year earlier, a much bigger increase than February’s 3.2% and above what economists were forecasting.', 'On a monthly basis, consumer prices rose 0.4%, also above expectations.', 'That sent a shiver up Wall Street’s spine.', 'Stocks dropped sharply after the March CPI was released Wednesday as bond yields spiked to the highest level since November.', 'Major Wall Street banks also recalibrated their forecasts on rate cuts.', 'Goldman Sachs now estimates that the first rate cut will come in July, instead of June; and Bank of America now expects the first cut in December instead of June.', '“We continue to expect cuts at a quarterly pace after that, which now implies two cuts in 2024 in July and November,” Goldman Sachs’s chief economist, Jan Hatzius, said in a note.', 'Everyday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling.', 'Still, they’re not feeling any peppier about it, either.', 'Pessimistic moods about the economy have been a persistent headache for President Joe Biden as he campaigns for reelection.', 'Biden is preparing a campaign swing through Pennsylvania next week to make his case for voters on how he plans to tackle economic issues.', 'Biden kicks off his tour through the state Tuesday with a major speech on the economy in his hometown of Scranton, Pennsylvania, campaign officials told CNN.', '“The address will drive home a simple question: Do you think the tax code should work for rich people or for the middle class?”', 'a campaign official told CNN. “', 'The president has made it clear what he thinks the answer is, and so has Donald Trump.”']",0.011416115569431,"Everyday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling.","“We continue to expect cuts at a quarterly pace after that, which now implies two cuts in 2024 in July and November,” Goldman Sachs’s chief economist, Jan Hatzius, said in a note.",-0.2579779311230308,"On a monthly basis, consumer prices rose 0.4%, also above expectations.",Pessimistic moods about the economy have been a persistent headache for President Joe Biden as he campaigns for reelection.,2024-04-12 -US airlines ask Biden administration to block additional flights to China,https://edition.cnn.com/2024/04/12/business/us-airlines-letter-china-flights-disadvantage-intl-hnk/index.html," - Updated - 4:56 AM EDT, Fri April 12, 2024 - ","The US aviation industry has asked the Biden administration to pause approval of additional flights to and from China, saying Beijing’s “existing harmful anti-competitive policies” hurt American airlines and workers. - - “The competitive disadvantage is harmful to the approximately 315,000 workers employed by US passenger airlines that serve China,” according to a letter published Thursday addressing Secretary of State Antony Blinken and Transportation Secretary Pete Buttigieg. - - The letter was signed by industry lobby group Airlines for America — whose members include American Airlines (AAL), Delta (DAL) and United (UAL) — and other unions representing aviation workers, including the Air Line Pilots Association. - - “If the growth of the Chinese aviation market is allowed to continue unchecked and without concern for equality of access in the market, flights will continue to be relinquished to Chinese carriers at the expense of US workers and businesses,” it added. - - In February, Washington said it will allow Chinese airlines to further increase their direct passenger flights to the United States, in an effort to gradually restore aviation services that had been affected by the Covid-19 pandemic. - - Chinese carriers were given approval by US officials to make 50 weekly round trips to and from the United States, up from 35, from March 31. - - But the increased number is still only a fraction of the more than 150 weekly round trips allowed by each side before curbs were imposed in early 2020. - - In the letter, American carriers said China implemented strict limits to market access during the pandemic and imposed challenging rules affecting operations, customers and the treatment of US airline crew. - - The “anti-competitive disadvantage” with China worsened in 2022, the letter said, when the Asian country’s airlines continued to access Russian airspace, while US carriers stopped using it as a result of Moscow’s invasion of Ukraine in February of that year. - - Having to avoid Russian airspace adds time and costs to flights. - - “These actions demonstrated the clear need for the US government to establish a policy that protects US aviation workers, industry and air travelers,” it said. - - China’s Foreign Ministry said on Friday that increasing direct flights was the “consensus reached” when Chinese leader Xi Jinping and US President Joe Biden met in San Francisco in November. - - “It [boosting flights] will help the two peoples strengthen exchanges and enhance mutual understanding,” the ministry added. - - — Hassan Tayir contributed reporting.",CNN,12/04/2024,"['The US aviation industry has asked the Biden administration to pause approval of additional flights to and from China, saying Beijing’s “existing harmful anti-competitive policies” hurt American airlines and workers.', '“The competitive disadvantage is harmful to the approximately 315,000 workers employed by US passenger airlines that serve China,” according to a letter published Thursday addressing Secretary of StateAntony Blinkenand Transportation SecretaryPete Buttigieg.', 'The letter was signed by industry lobby groupAirlines for America — whose members include American Airlines (AAL), Delta (DAL) and United (UAL) — and other unions representing aviation workers, including the Air Line Pilots Association.', '“If the growth of the Chinese aviation market is allowed to continue unchecked and without concern for equality of access in the market, flights will continue to be relinquished to Chinese carriers at the expense of US workers and businesses,” it added.', 'In February, Washington said it will allow Chinese airlines to further increase their direct passenger flights to the United States, in an effort to gradually restore aviation services that had been affected by the Covid-19 pandemic.', 'Chinese carriers were given approval by US officials to make 50 weekly round trips to and from the United States, up from 35, from March 31.', 'But the increased number is still only a fraction of the more than 150 weekly round trips allowed by each side before curbs were imposed in early 2020.', 'In the letter, American carriers said China implemented strict limits to market access during the pandemic and imposed challenging rules affecting operations, customers and the treatment of US airline crew.', 'The “anti-competitive disadvantage” with China worsened in 2022, the letter said, when the Asian country’s airlines continued to access Russian airspace, while US carriers stopped using it as a result of Moscow’s invasion of Ukraine in February of that year.', 'Having to avoid Russian airspace adds time and costs to flights.', '“These actions demonstrated the clear need for the US government to establish a policy that protects US aviation workers, industry and air travelers,” it said.', 'China’s Foreign Ministry said on Friday that increasing direct flights was the “consensus reached” when Chinese leader Xi Jinping and US President Joe Biden met in San Francisco in November.', '“It [boosting flights] will help the two peoples strengthen exchanges and enhance mutual understanding,” the ministry added.', '— Hassan Tayir contributed reporting.']",0.1872266796436992,"In February, Washington said it will allow Chinese airlines to further increase their direct passenger flights to the United States, in an effort to gradually restore aviation services that had been affected by the Covid-19 pandemic.","The “anti-competitive disadvantage” with China worsened in 2022, the letter said, when the Asian country’s airlines continued to access Russian airspace, while US carriers stopped using it as a result of Moscow’s invasion of Ukraine in February of that year.",-0.0860828703100031,"“It [boosting flights] will help the two peoples strengthen exchanges and enhance mutual understanding,” the ministry added.","The “anti-competitive disadvantage” with China worsened in 2022, the letter said, when the Asian country’s airlines continued to access Russian airspace, while US carriers stopped using it as a result of Moscow’s invasion of Ukraine in February of that year.",2024-04-12 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-04-12 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-04-12 -How OJ Simpson’s ‘trial of the century’ opened the door to Trump’s presidency,https://edition.cnn.com/2024/04/12/media/oj-simpson-trial-reshaped-media-trump-presidency/index.html," - Updated - 8:47 AM EDT, Fri April 12, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - O.J. Simpson gripped the nation’s attention for a final time Thursday. - - As breaking news banners and push alerts crashed onto screens from coast to coast, stunning millions with news of the former National Football League star’s death, the moment produced one last Simpson-centric collective event for the national consciousness. - - But the impact the former Heisman Trophy-winning running back, who spellbound the nation as he was tried and ultimately acquitted for the gruesome murder of his ex-wife, left imprinted on America’s media environment will endure long beyond his death. - - In fact, it is not out of the question to wonder: Would Donald Trump have ever risen to political power and become president without Simpson? - - On its surface, that might seem far-fetched. But the impression that Simpson’s all-consuming trial had on shaping the modern media environment cannot be overstated. From the moment Simpson led police on a low-speed chase down a Los Angeles freeway after being charged with the murders of Nicole Brown Simpson and her friend Ronald Goldman, the media landscape was never the same. - - Simpson’s ensuing trial in 1995 drew astonishing audience interest, with an unprecedented 150 million people tuning in on October 3 to watch the stunning verdict delivered live on television. The extraordinary attention the case generated helped launch the careers of a generation of household media stars, including Jeffrey Toobin, Nancy Grace, Greta Van Susteren, Dan Abrams, Harvey Levin, Gregg Jarrett and scores of others. - - The trial was also a milestone for the use of live TV cameras in the courtroom, transforming a typically closed-to-the-public process of justice into a cultural and entertainment spectacle that is still widely known as the Trial of the Century. Judge Lance Ito’s decision still resonates to this day, with judges often criticizing the “circus” atmosphere created by the trial as they weigh whether to allow the public to view such proceedings. - - But the most consequential effects the trial had on American life were far broader. Simpson’s trial gave way to a media landscape dominated by salacious reality television and talking head-driven cable news. - - Not only did Simpson’s trial catapult Robert Kardashian (and thus the entire Kardashian family) to fame, it also served as the first major reality television show to hypnotize the nation, giving way in later years to a number of programs aimed at capitalizing off unscripted high-drama. - - Meanwhile, the wall-to-wall coverage of Simpson’s legal showdown, having entranced the nation, delivered a hefty viewership boost to outlets such as CNN and Court TV, helping to cement cable’s role as a destination for live news. Prior to the legal drama, Americans generally relied on the nightly newscasts for their daily dose of headlines. But the Simpson trial produced endless hours of courtroom theater, prompting viewers to tune in before the likes of Peter Jennings and Tom Brokaw made their way to air. - - In fact, according to a 1995 report in The New York Times, the surge in cable television viewership was so significant that it actually reduced the audience for the three broadcast nightly news programs. Andy Lack, then president of NBC News, said the impact was so pronounced that he worried about the Peacock network taking a “significant economic hit.” - - The Simpson trial’s footprint on cable news did not stop there. According to media historian and University of Maine Communications and Journalism professor Michael Socolow, the trial helped persuade Rupert Murdoch into launching Fox News. Socolow said the Australian media mogul “grew enraged” watching CNN founder Ted Turner “rake in” an estimated $200 million from the live coverage of Simpson’s trial. And, to that end, Socolow said Murdoch was energized to launch his right-wing alternative in 1996 to grab his own slice of the lucrative pie. - - It’s difficult to imagine Trump being elected to the White House without the three-legged stool that Simpson’s trial played a crucial role in building. Is there a Trump presidency without reality television? Or cable news? Or, especially, Fox News? - - Trump exploited each of those branches of the post-Simpson media environment to gain fame. And then he ultimately used them to seek — and hold onto — political power. - - “Simpson proved enormous profits could be generated from high ratings from programming that did not require actors and writers and sets. Reality TV had started earlier, but after Simpson there was a massive profusion of ‘Reality TV,’” Socolow said in an email. “That’s how ‘The Apprentice’ gave Donald Trump a comeback in American culture, and he rode his reality TV stardom to the White House.”",CNN,12/04/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'O.J. Simpsongripped the nation’s attention for a final time Thursday.', 'As breaking news banners and push alerts crashed onto screens from coast to coast, stunning millions with news of the formerNational Football Leaguestar’s death, the moment produced one last Simpson-centric collective event for the national consciousness.', 'But the impact the formerHeisman Trophy-winning running back, who spellbound the nation as he was tried and ultimately acquitted for the gruesome murder of his ex-wife, left imprinted on America’s media environment will endure long beyond his death.', 'In fact, it is not out of the question to wonder: WouldDonald Trumphave ever risen to political power and become president without Simpson?', 'On its surface, that might seem far-fetched.', 'But the impression that Simpson’s all-consuming trial had on shaping the modern media environment cannot be overstated.', 'From the moment Simpson led police on a low-speed chase down aLos Angelesfreeway after being charged with the murders ofNicole Brown Simpsonand her friendRonald Goldman, the media landscape was never the same.', 'Simpson’s ensuing trial in 1995 drew astonishing audience interest, with an unprecedented 150 million people tuning in on October 3 to watch the stunning verdict delivered live on television.', 'The extraordinary attention the case generated helped launch the careers of a generation of household media stars, includingJeffrey Toobin,Nancy Grace,Greta Van Susteren,Dan Abrams,Harvey Levin,Gregg Jarrett and scores of others.', 'The trial was also a milestone for the use of live TV cameras in the courtroom, transforming a typically closed-to-the-public process of justice into a cultural and entertainment spectacle that is still widely known as the Trial of the Century.', 'Judge Lance Ito’sdecision still resonates to this day, with judges often criticizing the “circus” atmosphere created by the trial as they weigh whether to allow the public to view such proceedings.', 'But the most consequential effects the trial had on American life were far broader.', 'Simpson’s trial gave way to a media landscape dominated by salacious reality television and talking head-driven cable news.', 'Not only did Simpson’s trial catapultRobert Kardashian(and thus the entire Kardashian family) to fame, it also served as the first major reality television show to hypnotize the nation, giving way in later years to a number of programs aimed at capitalizing off unscripted high-drama.', 'Meanwhile, the wall-to-wall coverage of Simpson’s legal showdown, having entranced the nation, delivered a hefty viewership boost to outlets such asCNNandCourt TV, helping to cement cable’s role as a destination for live news.', 'Prior to the legal drama, Americans generally relied on the nightly newscasts for their daily dose of headlines.', 'But the Simpson trial produced endless hours of courtroom theater, prompting viewers to tune in before the likes ofPeter JenningsandTom Brokawmade their way to air.', 'In fact,according to a 1995 report inThe New York Times, the surge in cable television viewership was so significant that it actually reduced the audience for the three broadcast nightly news programs.', 'Andy Lack, then president ofNBC News, said the impact was so pronounced that he worried about the Peacock network taking a “significant economic hit.”', 'The Simpson trial’s footprint on cable news did not stop there.', 'According to media historian andUniversity of MaineCommunications and Journalism professorMichael Socolow, the trial helped persuadeRupert Murdochinto launchingFox News.', 'Socolow said the Australian media mogul “grew enraged” watching CNN founderTed Turner“rake in” an estimated $200 million from the live coverage of Simpson’s trial.', 'And, to that end,Socolow said Murdoch was energized to launch his right-wing alternative in 1996 to grab his own slice of the lucrative pie.', 'It’s difficult to imagine Trump being elected to the White House without the three-legged stool that Simpson’s trial played a crucial role in building.', 'Is there a Trump presidency without reality television?', 'Or cable news?', 'Or, especially, Fox News?', 'Trump exploited each of those branches of the post-Simpson media environment to gain fame.', 'And then he ultimately used them to seek — and hold onto — political power.', '“Simpson proved enormous profits could be generated from high ratings from programming that did not require actors and writers and sets.', 'Reality TV had started earlier, but after Simpson there was a massive profusion of ‘Reality TV,’” Socolow said in an email. “', 'That’s how‘The Apprentice’gave Donald Trump a comeback in American culture, and he rode his reality TV stardom to the White House.”']",0.1077200649454672,"Simpson’s ensuing trial in 1995 drew astonishing audience interest, with an unprecedented 150 million people tuning in on October 3 to watch the stunning verdict delivered live on television.","From the moment Simpson led police on a low-speed chase down aLos Angelesfreeway after being charged with the murders ofNicole Brown Simpsonand her friendRonald Goldman, the media landscape was never the same.",0.4499185735529119,"Meanwhile, the wall-to-wall coverage of Simpson’s legal showdown, having entranced the nation, delivered a hefty viewership boost to outlets such asCNNandCourt TV, helping to cement cable’s role as a destination for live news.","In fact,according to a 1995 report inThe New York Times, the surge in cable television viewership was so significant that it actually reduced the audience for the three broadcast nightly news programs.",2024-04-12 -Rishi Sunak's five promises: What progress has he made?,https://www.bbc.co.uk/news/65647308,2023-07-04T00:44:37.000Z,"On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities. ""I fully expect you to hold my government and I to account on delivering those goals,"" he said. What progress has he made? The government's top priority was halving inflation - the increase in prices over time - by the end of 2023. Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023. The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods. The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge. The government has never publicly said what measure should be used to assess if it had met the prime minister's pledge to ""grow the economy"", despite repeated requests. In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September). That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession. Overall the economy grew by only 0.1% in the whole of 2023. Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals. On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth. He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy. I don't think any of us were expecting the economy to actually grow last year."" The pledge to grow the economy was made more difficult by the government's promise to halve inflation. The Bank of England put up interest rates 14 times to stop prices rising so quickly. However, this also reduced spending, and slowed economic growth. When governments talk about reducing debt, it almost always mean as a proportion of GDP. The idea is that debt is coming down if it is growing more slowly than the economy. In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out. The latest figures for February showed that government debt stood at 97.1% of the size of the economy. That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"". But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29). In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29. But it is going to be tight and will involve challenging spending restraint for some government departments. When will we know? The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024. Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly."" His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems. The overall number of waits for non-emergency treatment in England was 7.5 million in February. This was the sixth monthly fall in a row and about 200,000 down from August, but about 600,000 higher than it was when Mr Sunak came to office. The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have."" He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact."" Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000. When will we know?: Monthly waiting list figures are published about six weeks after the end of each month. The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022. The prime minister proposed to do this through new legislation.The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally. The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court. In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring that Rwanda is a safe country. The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024. Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"". In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year. In the first three months of 2024, 5,435 people crossed the English Channel - a new record for arrivals between January and March. Since then another 82 people made the crossing, bringing the total this year to 5,517. When will we know? Figures on arrivals in small boats are collected daily. What do you want BBC Verify to investigate? ",BBC,04/07/2023,"['On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities. ""', 'I fully expect you to hold my government and I to account on delivering those goals,"" he said.', 'What progress has he made?', ""The government's top priority was halving inflation - the increase in prices over time - by the end of 2023."", 'Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023.', 'The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods.', 'The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge.', 'The government has never publicly said what measure should be used to assess if it had met the prime minister\'s pledge to ""grow the economy"", despite repeated requests.', 'In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September).', 'That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession.', 'Overall the economy grew by only 0.1% in the whole of 2023.', 'Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals.', 'On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth.', 'He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy.', 'I don\'t think any of us were expecting the economy to actually grow last year.""', ""The pledge to grow the economy was made more difficult by the government's promise to halve inflation."", 'The Bank of England put up interest rates 14 times to stop prices rising so quickly.', 'However, this also reduced spending, and slowed economic growth.', 'When governments talk about reducing debt, it almost always mean as a proportion of GDP.', 'The idea is that debt is coming down if it is growing more slowly than the economy.', 'In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out.', 'The latest figures for February showed that government debt stood at 97.1% of the size of the economy.', 'That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"".', 'But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).', 'In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29.', 'But it is going to be tight and will involve challenging spending restraint for some government departments.', 'When will we know?', 'The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024.', 'Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly.""', 'His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems.', 'The overall number of waits for non-emergency treatment in England was 7.5 million in February.', 'This was the sixth monthly fall in a row and about 200,000 down from August, but about 600,000 higher than it was when Mr Sunak came to office.', 'The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have.""', 'He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact.""', 'Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000.', 'When will we know?:', 'Monthly waiting list figures are published about six weeks after the end of each month.', 'The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022.', 'The prime minister proposed to do this through new legislation.', 'The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally.', 'The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.', 'In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring that Rwanda is a safe country.', 'The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024.', 'Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"".', 'In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year.', 'In the first three months of 2024, 5,435 people crossed the English Channel - a new record for arrivals between January and March.', 'Since then another 82 people made the crossing, bringing the total this year to 5,517.', 'When will we know?', 'Figures on arrivals in small boats are collected daily.', 'What do you want BBC Verify to investigate?']",-0.0229057717906215,The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.,But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).,0.0905166392525037,"He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy.","This was the sixth monthly fall in a row and about 200,000 down from August, but about 600,000 higher than it was when Mr Sunak came to office.",2024-04-12 -"Robert MacNeil, legendary PBS News anchor, dies at age 93",https://edition.cnn.com/2024/04/12/business/robert-macneil-pbs-news-death/index.html," - Published - 3:49 PM EDT, Fri April 12, 2024 - ","Longtime broadcast journalist Robert MacNeil, who covered some of the biggest headlines of the 20th century and co-anchored PBS nightly news for two decades, died on Friday, PBS announced. He was 93. - - MacNeil “was an incredibly erudite reporter, anchor and writer who raised the bar for serious journalism in America,” Sharon Percy Rockefeller, president of NewsHour Productions, said Friday in a news release. “Principled, incisive and tenacious, he and Jim Lehrer set the high standards for NewsHour journalism that remain the core ethos of the program to this day.” - - A native of Montreal, Canada, MacNeil was raised in Nova Scotia and began his television career as a London-based correspondent for NBC in 1960, according to public broadcaster WETA. He reported on international stories such as the building of the Berlin Wall and the Cuban Missile Crisis before shifting to a US-based role out of Washington, DC. In November 1963, he was covering President John F. Kennedy in Dallas the day the president was assassinated, according to WETA. - - Arriving at PBS in the early 1970’s, MacNeil began a decades-long partnership with fellow journalist Jim Lehrer, according to PBS The two led PBS coverage of the Senate’s Watergate Hearings in 1973. In 1975, the pair co-founded the MacNeil/Lehrer Report, a show that would later become PBS NewsHour. The broadcast won more than 30 journalism awards in its two-decade-long run, including two Emmys and a 1994 Radio and Television Correspondents Association Award for congressional reporting, according to PBS and WETA. - - MacNeil sat at the helm alongside Lehrer before leaving in 1995, according to PBS. - - In his farewell address to audiences, he thanked viewers and public television “for the opportunity you’ve given me to work in a manner I could be proud of when I went home every night.” - - After his retirement, he returned to PBS periodically to assist with special coverage. One of his many books, “Do You Speak American?” which detailed the development of English in the United States, was turned into a PBS documentary in 2005. - - Holding a reputation for unimpeachable journalistic integrity, MacNeil was known for refusing to play into sensationalist news practices and is often considered a quintessential hallmark of American broadcast media culture prior to the relaxation of the Fairness Doctrine in 1987 and the factionalism of today’s news media. - - Reflecting on his career at the 2005 Sun Valley Writers’ Conference, MacNeil said, “I don’t know what’s going to happen (regarding nightly news). They have got fluffier and often sillier and certainly softer under the pressure from cable news. The future is a bit uncertain … it’s such a different context for television news than it used to be 40 years ago when I first began.”",CNN,12/04/2024,"['Longtime broadcast journalist Robert MacNeil, who covered some of the biggest headlines of the 20th century and co-anchoredPBS nightly news for two decades, died on Friday, PBS announced.', 'He was 93.', 'MacNeil “was an incredibly erudite reporter, anchor and writer who raised the bar for serious journalism in America,” Sharon Percy Rockefeller, president of NewsHour Productions, said Friday in a news release. “', 'Principled, incisive and tenacious, he and Jim Lehrer set the high standards for NewsHour journalism that remain the core ethos of the program to this day.”', 'A native of Montreal, Canada, MacNeil was raised in Nova Scotia and began his television career as a London-based correspondent for NBC in 1960, according to public broadcaster WETA.', 'He reported on international stories such as the building of the Berlin Wall and the Cuban Missile Crisis before shifting to a US-based role out of Washington, DC.', 'In November 1963, he was covering President John F. Kennedy in Dallas the day the president was assassinated, according to WETA.', 'Arriving at PBS in the early 1970’s, MacNeil began a decades-long partnership with fellow journalist Jim Lehrer, according to PBS The two led PBS coverage of the Senate’s Watergate Hearings in 1973.', 'In 1975, the pair co-founded the MacNeil/Lehrer Report, a show that would later become PBS NewsHour.', 'The broadcast won more than 30 journalism awards in its two-decade-long run, including two Emmys and a 1994 Radio and Television Correspondents Association Award for congressional reporting, according to PBS and WETA.', 'MacNeil sat at the helm alongside Lehrer before leaving in 1995, according to PBS.', 'In his farewell address to audiences, he thanked viewers and public television “for the opportunity you’ve given me to work in a manner I could be proud of when I went home every night.”', 'After his retirement, he returned to PBS periodically to assist with special coverage.', 'One of his many books, “Do You Speak American?”', 'which detailed the development of English in the United States, was turned into a PBS documentary in 2005.', 'Holding a reputation for unimpeachable journalistic integrity, MacNeil was known for refusing to play into sensationalist news practices and is often considered a quintessential hallmark of American broadcast media culture prior to the relaxation of the Fairness Doctrine in 1987 and the factionalism of today’s news media.', 'Reflecting on his career at the 2005 Sun Valley Writers’ Conference, MacNeil said, “I don’t know what’s going to happen (regarding nightly news).', 'They have got fluffier and often sillier and certainly softer under the pressure from cable news.', 'The future is a bit uncertain … it’s such a different context for television news than it used to be 40 years ago when I first began.”']",0.1035249651815082,"The broadcast won more than 30 journalism awards in its two-decade-long run, including two Emmys and a 1994 Radio and Television Correspondents Association Award for congressional reporting, according to PBS and WETA.","He reported on international stories such as the building of the Berlin Wall and the Cuban Missile Crisis before shifting to a US-based role out of Washington, DC.",-0.107140302658081,"In his farewell address to audiences, he thanked viewers and public television “for the opportunity you’ve given me to work in a manner I could be proud of when I went home every night.”",They have got fluffier and often sillier and certainly softer under the pressure from cable news.,2024-04-12 -"Turkey restricts exports to Israel, saying its request to airdrop aid to Gaza was denied",https://edition.cnn.com/2024/04/09/business/turkey-restricts-exports-israel-gaza/index.html," - Published - 8:30 AM EDT, Tue April 9, 2024 - ","Turkey has announced restrictions on exports to Israel after the Turkish foreign minister accused Israel of denying a request to airdrop aid to Gaza. - - In a statement Tuesday, the Turkish Ministry of Trade condemned Israel’s actions preventing access to “the most basic food, medical care and supplies” for the people of Gaza and said it had placed a ban on the export of 54 products, including many that could be used for military purposes or construction. - - “This decision will remain in effect until Israel, within the framework of its obligations arising from international law, declares an immediate ceasefire in Gaza and allows a sufficient and uninterrupted flow of humanitarian aid to the Gaza Strip,” the ministry said. - - Among the items listed in the statement are steel, aluminum, cement and electrical cables. - - Speaking at a press conference in Ankara late Monday, the Turkish foreign minister said Turkey was taking “a series of new measures against Israel” after Israel had denied its request to join a Jordanian aid operation. “Today we learned that our request, which was welcomed by the Jordanian authorities, was rejected by Israel,” Hakan Fidan said. - - “There is no excuse for Israel to block our attempt to airlift aid to starving Gazans,” he continued. - - Israel’s Coordinator of Government Activities in the Territories, the agency that controls access to Gaza, has not responded to CNN’s request for comment on Turkey’s allegations. - - Meanwhile, Israeli Foreign Minister Israel Katz said in a statement Tuesday that Turkish President Recep Tayyip Erdogan was “once again sacrificing the economic interests of the people of Turkey for his support of Hamas.” - - Katz said he had ordered Israel’s foreign ministry to prepare an “extensive list” of Turkish products that Israel would ban in response. Israel will also ask the United States and other allies to “stop investments in Turkey and prevent the import of products from Turkey.” Furthermore, it will appeal to the US Congress to “impose sanctions accordingly.” - - “Israel will not submit to violence and blackmail and will not keep quiet about the unilateral violation of the trade agreements,” Katz said. - - Along with the United Arab Emirates, Turkey is the biggest donor of aid to Gaza, according to Israel’s Coordinator of Government Activities in the Territories. - - In the view of Turkey’s main opposition party, the Republican People’s Party (CHP), the newly announced export curbs do not go far enough. In a statement Tuesday, the CHP criticized the Turkish government for continuing to trade with Israel despite publicly condemning its attacks on Gaza. - - “We call on the government to immediately stop doing business with a country that supports … attacks on Gaza and turns a blind eye to injustice and oppression,” Volkan Demir, CHP’s deputy chairman of trade policies, said in the statement. - - Lauren Izso in Tel Aviv and Anna Cooban in London contributed to this article.",CNN,09/04/2024,"['Turkey has announced restrictions on exports to Israel after the Turkish foreign minister accused Israel of denying a request to airdrop aid to Gaza.', 'In a statement Tuesday, the Turkish Ministry of Trade condemned Israel’s actions preventing access to “the most basic food, medical care and supplies” for the people of Gaza and said it had placed a ban on the export of 54 products, including many that could be used for military purposes or construction.', '“This decision will remain in effect until Israel, within the framework of its obligations arising from international law, declares an immediate ceasefire in Gaza and allows a sufficient and uninterrupted flow of humanitarian aid to the Gaza Strip,” the ministry said.', 'Among the items listed in the statement are steel, aluminum, cement and electrical cables.', 'Speaking at a press conference in Ankara late Monday, the Turkish foreign minister said Turkey was taking “a series of new measures against Israel” after Israel had denied its request to join a Jordanian aid operation. “', 'Today we learned that our request, which was welcomed by the Jordanian authorities, was rejected by Israel,” Hakan Fidan said.', '“There is no excuse for Israel to block our attempt to airlift aid to starving Gazans,” he continued.', 'Israel’s Coordinator of Government Activities in the Territories, the agency that controls access to Gaza, has not responded to CNN’s request for comment on Turkey’s allegations.', 'Meanwhile, Israeli Foreign Minister Israel Katz said in a statement Tuesday that Turkish President Recep Tayyip Erdoganwas “once again sacrificing the economic interests of the people of Turkey for his support of Hamas.”', 'Katz said he had ordered Israel’s foreign ministry to prepare an “extensive list” of Turkish products that Israel would ban in response.', 'Israel will also ask the United States and other allies to “stop investments in Turkey and prevent the import of products from Turkey.', '”Furthermore, it will appeal to the US Congress to “impose sanctions accordingly.”', '“Israel will not submit to violence and blackmail and will not keep quiet about the unilateral violation of the trade agreements,” Katz said.', 'Along with the United Arab Emirates, Turkey is the biggest donor of aid to Gaza, according to Israel’s Coordinator of Government Activities in the Territories.', 'In the view of Turkey’s main opposition party, the Republican People’s Party (CHP), the newly announced export curbs do not go far enough.', 'In a statement Tuesday, the CHP criticized the Turkish government for continuing to trade with Israel despite publicly condemning its attacks on Gaza.', '“We call on the government to immediately stop doing business with a country that supports … attacks on Gaza and turns a blind eye to injustice and oppression,” Volkan Demir, CHP’s deputy chairman of trade policies, said in the statement.', 'Lauren Izso in Tel Aviv and Anna Cooban in London contributed to this article.']",-0.1378316322288826,"In the view of Turkey’s main opposition party, the Republican People’s Party (CHP), the newly announced export curbs do not go far enough.","“We call on the government to immediately stop doing business with a country that supports … attacks on Gaza and turns a blind eye to injustice and oppression,” Volkan Demir, CHP’s deputy chairman of trade policies, said in the statement.",-0.436771422624588,"Today we learned that our request, which was welcomed by the Jordanian authorities, was rejected by Israel,” Hakan Fidan said.",Turkey has announced restrictions on exports to Israel after the Turkish foreign minister accused Israel of denying a request to airdrop aid to Gaza.,2024-04-12 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-04-12 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-04-12 -UK passport: How much does it cost to get or renew and what is the 10-year rule?,https://www.bbc.co.uk/news/business-68675348,2024-03-28T09:28:04.000Z,"The price of a getting or renewing a UK passport has risen for the second time in 14 months. Meanwhile, UK holidaymakers travelling to the EU are being warned not to get caught out by the ""10-year rule"". It now costs £88.50 to get, renew or replace your passport if you apply online, up from £82.50, or £100 for a postal application, up from £93. An online application for a child's passport costs £57.50, up from £53.50, or £69 via post, up from £64. It costs more if you apply from abroad, or if you require a passport urgently. Passports are free for people born on or before 2 September 1929. The increased fees apply to both new passport applications and renewals. You must renew your passport before you travel if either: How much time you need on your passport depends on where you are going. You can check entry requirements for individual countries on the UK government's website. You can renew online at HM Passport Office or by filling in a paper application from certain Post Offices. You'll need your old passport and any valid passports you hold from a different country. For online applications, you'll also need a digital photo that meets specific requirements. For paper applications, you need two identical printed photos. The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details. It should take up to three weeks to renew a passport in the UK, but it can take longer during periods of high demand, such as before school holidays. To get a passport issued urgently in the UK, you can book an appointment at your nearest passport office, subject to availability. It then takes up to a week to be issued. You can get more information on the Passport Office website or you can call the helpline on 0300 222 0000. The line is open 08:00 to 20:00, Monday to Friday, and 09:00 to 17:30 on Saturday, Sunday and UK bank holidays. Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel. UK travellers used to be able to carry up to nine months left on an old passport over to a new one. This meant that a passport could be valid for more than 10 years. But the rules changed after Brexit, and the majority of EU countries no longer accept British passports that were issued more than 10 years before the date of travel. This is known as the ""10-year rule"". To enter those countries now, your UK passport must: If your passport does not meet these requirements, you will be refused entry. The rules apply in all 27 EU countries, except Ireland, which has its own separate travel arrangements with the UK. They also apply to passengers traveling to Iceland, Norway and Liechtenstein - which are part of the European Economic Area (EEA) - and Switzerland. ",BBC,28/03/2024,"['The price of a getting or renewing a UK passport has risen for the second time in 14 months.', 'Meanwhile, UK holidaymakers travelling to the EU are being warned not to get caught out by the ""10-year rule"".', 'It now costs £88.50 to get, renew or replace your passport if you apply online, up from £82.50, or £100 for a postal application, up from £93.', ""An online application for a child's passport costs £57.50, up from £53.50, or £69 via post, up from £64."", 'It costs more if you apply from abroad, or if you require a passport urgently.', 'Passports are free for people born on or before 2 September 1929.', 'The increased fees apply to both new passport applications and renewals.', 'You must renew your passport before you travel if either: How much time you need on your passport depends on where you are going.', ""You can check entry requirements for individual countries on the UK government's website."", 'You can renew online at HM Passport Office or by filling in a paper application from certain Post Offices.', ""You'll need your old passport and any valid passports you hold from a different country."", ""For online applications, you'll also need a digital photo that meets specific requirements."", 'For paper applications, you need two identical printed photos.', 'The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details.', 'It should take up to three weeks to renew a passport in the UK, but it can take longer during periods of high demand, such as before school holidays.', 'To get a passport issued urgently in the UK, you can book an appointment at your nearest passport office, subject to availability.', 'It then takes up to a week to be issued.', 'You can get more information on the Passport Office website or you can call the helpline on 0300 222 0000.', 'The line is open 08:00 to 20:00, Monday to Friday, and 09:00 to 17:30 on Saturday, Sunday and UK bank holidays.', 'Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel.', 'UK travellers used to be able to carry up to nine months left on an old passport over to a new one.', 'This meant that a passport could be valid for more than 10 years.', 'But the rules changed after Brexit, and the majority of EU countries no longer accept British passports that were issued more than 10 years before the date of travel.', 'This is known as the ""10-year rule"".', 'To enter those countries now, your UK passport must: If your passport does not meet these requirements, you will be refused entry.', 'The rules apply in all 27 EU countries, except Ireland, which has its own separate travel arrangements with the UK.', 'They also apply to passengers traveling to Iceland, Norway and Liechtenstein - which are part of the European Economic Area (EEA) - and Switzerland.']",0.0223004154792272,Passports are free for people born on or before 2 September 1929.,"The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details.",0.5654839724302292,"An online application for a child's passport costs £57.50, up from £53.50, or £69 via post, up from £64.",Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel.,2024-04-12 -Real Bedford gets £3.6m cryptocurrency investment,https://www.bbc.co.uk/news/articles/cv27e9qn4qno,2024-04-12T19:29:38.293Z,"A non-league football club has received an injection of $4.5m (about £3.6m) from a pair of cryptocurrency investors. Real Bedford FC (RBFC) received the Bitcoin investment from Winklevoss Capital, an investment firm owned by Gemini founders Cameron and Tyler Winklevoss. Podcaster Peter McCormack bought the side, currently in the ninth tier of English football, in 2021 with the goal of turning it into a Premier League club. Following the investment the twins will assume the role of co-owners of the club alongside the cryptocurrency podcaster. Gemini started its sponsorship of the club in January 2022. The investment will be used for the development of a new training centre, the launch of a football academy for new talent and to continue supporting girls and youth football. The club said the funds would also be used to establish ""a Bitcoin treasury to secure the club’s long-term ambitions"". Tyler Winklevoss said he was excited to work alongside Mr McCormack as a co-owner. “We share in Peter’s deep conviction in Bitcoin and its ability to supercharge RBFC’s quest to make it into the Premier League,"" he said. His brother added: ""We’re not just investing in a football club. We’re investing in a dream to bring Premier League football to Bedford."" RBFC currently sit at the top of the Spartan South Midlands Football League Premier Division. Mr McCormack said: ""The backing from Tyler and Cameron will allow us to continue investing in Bedford and the local community."" Follow East of England news on Facebook, Instagram and X. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830 ",BBC,12/04/2024,"['A non-league football club has received an injection of $4.5m (about £3.6m) from a pair of cryptocurrency investors.', 'Real Bedford FC (RBFC) received the Bitcoin investment from Winklevoss Capital, an investment firm owned by Gemini founders Cameron and Tyler Winklevoss.', 'Podcaster Peter McCormack bought the side, currently in the ninth tier of English football, in 2021 with the goal of turning it into a Premier League club.', 'Following the investment the twins will assume the role of co-owners of the club alongside the cryptocurrency podcaster.', 'Gemini started its sponsorship of the club in January 2022.', 'The investment will be used for the development of a new training centre, the launch of a football academy for new talent and to continue supporting girls and youth football.', 'The club said the funds would also be used to establish ""a Bitcoin treasury to secure the club’s long-term ambitions"".', 'Tyler Winklevoss said he was excited to work alongside Mr McCormack as a co-owner. “', 'We share in Peter’s deep conviction in Bitcoin and its ability to supercharge RBFC’s quest to make it into the Premier League,"" he said.', 'His brother added: ""We’re not just investing in a football club.', 'We’re investing in a dream to bring Premier League football to Bedford.""', 'RBFC currently sit at the top of the Spartan South Midlands Football League Premier Division.', 'Mr McCormack said: ""The backing from Tyler and Cameron will allow us to continue investing in Bedford and the local community.""', 'Follow East of England news on Facebook, Instagram and X. Got a story?', 'Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830']",0.184616947660479,"The investment will be used for the development of a new training centre, the launch of a football academy for new talent and to continue supporting girls and youth football.",,0.9263587832450868,"Mr McCormack said: ""The backing from Tyler and Cameron will allow us to continue investing in Bedford and the local community.""",,2024-04-12 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-04-12 -Apple sparks Palestinian flag emoji controversy,https://www.bbc.co.uk/news/technology-68778830,2024-04-10T15:12:08.000Z,"Apple has been criticised after the Palestinian flag emoji was automatically suggested to iPhone users who type ""Jerusalem."" Both Israel and the Palestinians hold competing claims to the ancient city. TV presenter Rachel Riley, who is Jewish, noted on social media that national flags were not suggested for other capitals. Apple has told the BBC that the change - which followed a recent software update - was not intentional. The issue will be remedied in a future software update, Apple says, but it is not known how rapidly this will happen. Writing on X (formerly Twitter), Ms Riley demanded that Apple explain what had happened. ""Showing double standards with respect to Israel is a form of antisemitism"", she argued. The issue, according to Apple, relates to a feature called predictive emoji. iPhones can suggest emojis when words are typed in messages, and other apps. The notes accompanying the latest iOS update say that it includes ""new emojis."" The status of Jerusalem is one of the thorniest disputes in the conflict between Israel and the Palestinians. Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state. East Jerusalem, along with the West Bank and Gaza Strip, were captured by Israel from Jordan and Egypt in a war in 1967, and have since been viewed internationally as occupied Palestinian territory. This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians. Last year rival tech giant Meta had to apologise after a bug resulted in it adding ""terrorist"" to the biographies of some Instagram users describing themselves as Palestinian. Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products. ",BBC,10/04/2024,"['Apple has been criticised after the Palestinian flag emoji was automatically suggested to iPhone users who type ""Jerusalem.""', 'Both Israel and the Palestinians hold competing claims to the ancient city.', 'TV presenter Rachel Riley, who is Jewish, noted on social media that national flags were not suggested for other capitals.', 'Apple has told the BBC that the change - which followed a recent software update - was not intentional.', 'The issue will be remedied in a future software update, Apple says, but it is not known how rapidly this will happen.', 'Writing on X (formerly Twitter), Ms Riley demanded that Apple explain what had happened. ""', 'Showing double standards with respect to Israel is a form of antisemitism"", she argued.', 'The issue, according to Apple, relates to a feature called predictive emoji.', 'iPhones can suggest emojis when words are typed in messages, and other apps.', 'The notes accompanying the latest iOS update say that it includes ""new emojis.""', 'The status of Jerusalem is one of the thorniest disputes in the conflict between Israel and the Palestinians.', 'Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state.', 'East Jerusalem, along with the West Bank and Gaza Strip, were captured by Israel from Jordan and Egypt in a war in 1967, and have since been viewed internationally as occupied Palestinian territory.', 'This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians.', 'Last year rival tech giant Meta had to apologise after a bug resulted in it adding ""terrorist"" to the biographies of some Instagram users describing themselves as Palestinian.', 'Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products.']",-0.1742546137985572,"Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state.",This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians.,-0.827385405699412,,"Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products.",2024-04-12 -Jessica Alba steps down as chief creative officer at The Honest Company,https://edition.cnn.com/2024/04/09/business/jessica-alba-steps-down-as-chief-creative-officer-honest-company/index.html," - Published - 6:20 PM EDT, Tue April 9, 2024 - ","Jessica Alba is stepping down as chief creative officer at The Honest Company, the baby products and personal care business founded by the actress in 2012. - - In a statement Tuesday, the company said Alba’s move away from her position will allow her to “shift her creative energy to new endeavors.” The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors. - - The Honest Company posted a strong fourth quarter in March. Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases. The earnings report said its diaper and baby clothing businesses performed especially well. - - The company — which went public and began trading on Nasdaq in 2021 — markets an aspirational “clean” lifestyle through its baby products and clothing, as well as skin and personal care. - - “When I created The Honest Company, I set out to change the consumer product industry and I can proudly say, we did just that,” Alba said in a statement Tuesday. “Honest has been a true labor of love for me - one that showed me what’s possible when you infuse purpose into business.”",CNN,09/04/2024,"['Jessica Alba is stepping down as chief creative officer at The Honest Company, the baby products and personal care business founded by the actress in 2012.', 'In a statement Tuesday, the company said Alba’s move away from her position will allow her to “shift her creative energy to new endeavors.”', 'The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors.', 'The Honest Company posted a strong fourth quarter in March.', 'Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases.', 'The earnings report said its diaper and baby clothing businesses performed especially well.', 'The company — which went public and began trading on Nasdaq in 2021 — markets an aspirational “clean” lifestyle through its baby products and clothing, as well as skin and personal care.', '“When I created The Honest Company, I set out to change the consumer product industry and I can proudly say, we did just that,” Alba said in a statement Tuesday. “', 'Honest has been a true labor of love for me - one that showed me what’s possible when you infuse purpose into business.”']",0.7406218711732586,"The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors.",,0.9996504386266072,"Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases.",,2024-04-12 -The Fed might not be done raising interest rates just yet,https://edition.cnn.com/2024/04/11/economy/fed-interest-rate-hike-probability/index.html," - Published - 2:02 PM EDT, Thu April 11, 2024 - ","Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates. But stubborn inflation now has some investors wondering about the exact opposite: a rate hike. - - Inflation slowed substantially in 2023 as the Fed lifted rates to nearly a quarter-century high and held them at that level since July. But recent economic data shows there hasn’t been much improvement this year. - - Then came March’s Consumer Price Index report, which showed prices rose 3.5% last month from a year earlier, up considerably from February’s 3.2% and higher than economists’ expectations. That also marked the highest reading in half a year. - - Surging gas prices and still-high housing costs drove the hotter-than-expected reading. The report spooked Wall Street, triggering a mass selloff on Wednesday and reducing the odds of a June rate cut, according to futures. - - Still, most Fed officials have signaled that they plan to cut rates this year if the economy evolves as expected. But disappointing inflation readings like Wednesday’s are likely giving them pause. And if the inflation situation worsens even further, the Fed may even have to consider raising rates. - - Fed Governor Michelle Bowman, arguably the central bank’s most hawkish voice, recently said that she would favor a rate hike “should progress on inflation stall or even reverse.” - - Minneapolis Fed President Neel Kashkari last week floated the possibility of not cutting rates at all this year. He also said rate hikes are “certainly not off the table.” But he said they aren’t likely. Kashkari is not voting on monetary policy decisions this year. - - Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook. But he said he’s not even remotely considering a rate increase at the moment. - - “I don’t see any signs that we’re not having the desired restricted effect on demand that’s helping us achieve our goals,” Williams said in response to a question posed by CNN at a Thursday discussion with reporters. There are “definitely circumstances” that would merit raising interest rates, he added, such as inflation moving materially higher, but the current trajectory doesn’t fit that, he said. - - Williams, a top adviser to Fed Chair Jerome Powell, still believes it will be appropriate to cut rates later this year, but declined to specify the quantity and timing. - - Boston Fed President Susan Collins said Thursday: “Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience — recognizing that disinflation may continue to be uneven,” - - Last month’s shockingly strong job report — the economy added 303,000 jobs in March, blowing past expectations of 205,000 positions added — is more of a reason for the central bank to be patient with cutting rates, she said, adding that it may mean fewer cuts this year “than previously thought may be warranted.” Collins, who isn’t voting on policy decisions this year, said at the end of last year, when CPI was lower than it is currently, that more rate hikes weren’t off the table. - - Powell, meanwhile, hasn’t recently addressed the potential need to raise interest rates. He said last month that the hotter-than-expected inflation reports for the beginning of the year might have been due to “seasonal factors.” - - But not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to meeting minutes released Wednesday. - - For now, officials generally expect to cut rates at some point this year. Officials’ latest economic projections show that they mostly expect to cut rates this year, though they were split on how aggressive the cutting should be, with 10 expecting three or more quarter-point cuts and nine estimating two or fewer. - - Former Treasury Secretary Larry Summers said Wednesday the March CPI report raises the odds that the Fed will hike rates. - - “You have to take seriously the possibility that the next rate move will be upwards rather than downwards,” Summers said in a Bloomberg TV interview Wednesday. - - Summers was one of a handful of economists who correctly argued back in 2021 that inflation wasn’t transitory, as Fed officials had categorized it, and rather was more widespread and would prove to not be temporary. - - Since Wednesday’s CPI report, economists from major banks including UBS, Barclays, Goldman Sachs and Bank of America have all pushed back their forecasts as to the timing of the first rate cut. - - Bank of America economists, for instance, are now predicting only one rate cut this year, in December. Previously they called for as many as four, with the first coming as soon as March. - - “2024 is starting to look like 2015, but in reverse. Then the Fed signaled hikes it could not deliver; now the Fed may be signaling cuts that the inflation data do not justify,” they said in a note Thursday. - - The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level. If the central bank cuts too late, it could unnecessarily damage the economy. That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled.",CNN,11/04/2024,"['Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates.', 'But stubborn inflation now has some investors wondering about the exact opposite: a rate hike.', 'Inflation slowed substantially in 2023 as the Fed lifted rates to nearly a quarter-century high and held them at that level since July.', 'But recent economic data shows there hasn’t been much improvement this year.', 'Then came March’s Consumer Price Index report, which showed prices rose 3.5% last month from a year earlier, up considerably from February’s 3.2% and higher than economists’ expectations.', 'That also marked the highest reading in half a year.', 'Surging gas prices and still-high housing costs drove the hotter-than-expected reading.', 'The report spooked Wall Street, triggering a mass selloff on Wednesday and reducing the odds of a June rate cut, according to futures.', 'Still, most Fed officials have signaled that they plan to cut rates this year if the economy evolves as expected.', 'But disappointing inflation readings like Wednesday’s are likely giving them pause.', 'And if the inflation situation worsens even further, the Fed may even have to consider raising rates.', 'Fed Governor Michelle Bowman, arguably the central bank’s most hawkish voice, recently said that she would favor a rate hike “should progress on inflation stall or even reverse.”', 'Minneapolis Fed President Neel Kashkari last week floated the possibility of not cutting rates at all this year.', 'He also said rate hikes are “certainly not off the table.”', 'But he said they aren’t likely.', 'Kashkari is not voting on monetary policy decisions this year.', 'Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook.', 'But he said he’s not even remotely considering a rate increase at the moment.', '“I don’t see any signs that we’re not having the desired restricted effect on demand that’s helping us achieve our goals,” Williams said in response to a question posed by CNN at a Thursday discussion with reporters.', 'There are “definitely circumstances” that would merit raising interest rates, he added, such as inflation moving materially higher, but the current trajectory doesn’t fit that, he said.', 'Williams, a top adviser to Fed Chair Jerome Powell, still believes it will be appropriate to cut rates later this year, but declined to specify the quantity and timing.', 'Boston Fed President Susan Collins said Thursday: “Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience — recognizing that disinflation may continue to be uneven,” Last month’s shockingly strong job report — the economy added 303,000 jobs in March, blowing past expectations of 205,000 positions added — is more of a reason for the central bank to be patient with cutting rates, she said, adding that it may mean fewer cuts this year “than previously thought may be warranted.”', 'Collins, who isn’t voting on policy decisions this year, said at the end of last year, when CPI was lower than it is currently, that more rate hikes weren’t off the table.', 'Powell, meanwhile, hasn’t recently addressed the potential need to raise interest rates.', 'He said last month that the hotter-than-expected inflation reports for the beginning of the year might have been due to “seasonal factors.”', 'But not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to meeting minutes released Wednesday.', 'For now, officials generally expect to cut rates at some point this year.', 'Officials’ latest economic projections show that they mostly expect to cut rates this year, though they were split on how aggressive the cutting should be, with 10 expecting three or more quarter-point cuts and nine estimating two or fewer.', 'Former Treasury Secretary Larry Summers said Wednesday the March CPI report raises the odds that the Fed will hike rates.', '“You have to take seriously the possibility that the next rate move will be upwards rather than downwards,” Summers said in a Bloomberg TV interview Wednesday.', 'Summers was one of a handful of economists who correctly argued back in 2021 that inflation wasn’t transitory, as Fed officials had categorized it, and rather was more widespread and would prove to not be temporary.', 'Since Wednesday’s CPI report, economists from major banks including UBS, Barclays, Goldman Sachs and Bank of America have all pushed back their forecasts as to the timing of the first rate cut.', 'Bank of America economists, for instance, are now predicting only one rate cut this year, in December.', 'Previously they called for as many as four, with the first coming as soon as March.', '“2024 is starting to look like 2015, but in reverse.', 'Then the Fed signaled hikes it could not deliver; now the Fed may be signaling cuts that the inflation datado not justify,” they said in a note Thursday.', 'The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level.', 'If the central bank cuts too late, it could unnecessarily damage the economy.', 'That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled.']",-0.0485194295901481,"There are “definitely circumstances” that would merit raising interest rates, he added, such as inflation moving materially higher, but the current trajectory doesn’t fit that, he said.","The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level.",-0.2453144067212155,That also marked the highest reading in half a year.,But disappointing inflation readings like Wednesday’s are likely giving them pause.,2024-04-12 -Citigroup tops estimates for first-quarter revenue on better-than-expected Wall Street results,https://www.cnbc.com/2024/04/12/citigroup-c-earnings-q1-2024.html,2024-04-12T17:20:02+0000,"In this articleCitigroup on Friday posted first-quarter revenue that topped analysts' estimates, helped by better-than-expected results in the bank's investment banking and trading operations.Here's how the company performed, compared with estimates from LSEG, formerly known as Refinitiv:The bank said profit fell 27% from a year earlier to $3.37 billion, or $1.58 a share, on higher expenses and credit costs. Adjusting for the impact of FDIC charges as well as restructuring and other costs, Citi earned $1.86 per share, according to LSEG calculations.Revenue slipped 2% to $21.10 billion, mostly driven by the impact of selling an overseas business in the year-earlier period.Investment banking revenue jumped 35% to $903 million in the quarter, driven by rising debt and equity issuance, topping the $805 million StreetAccount estimate.Fixed income trading revenue fell 10% to $4.2 billion, edging out the $4.14 billion estimate, and equities revenue rose 5% to $1.2 billion, topping the $1.12 billion estimate.The bank also posted an 8% gain to $4.8 billion in revenue in its Services division, which includes businesses that cater to the banking needs of global corporations, thanks to rising deposits and fees.Shares of the bank fell 2% after posting gains earlier. Citigroup CEO Jane Fraser previously said that her sweeping corporate overhaul would be complete by March, and that the firm would give an update to severance expenses along with first-quarter results.""Last month marked the end to the organizational simplification we announced in September,"" Fraser said in the earnings release. ""The result is a cleaner, simpler management structure that fully aligns to and facilitates our strategy.Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets. The bank on Friday reiterated its medium term targets for returns hitting at least 11% and generating at least $80 billion in revenue this year. JPMorgan Chase reported results earlier Friday, and Goldman Sachs reports on Monday.",CNBC,12/04/2024,"[""In this articleCitigroup on Friday posted first-quarter revenue that topped analysts' estimates, helped by better-than-expected results in the bank's investment banking and trading operations."", ""Here's how the company performed, compared with estimates from LSEG, formerly known as Refinitiv:The bank said profit fell 27% from a year earlier to $3.37 billion, or $1.58 a share, on higher expenses and credit costs."", 'Adjusting for the impact of FDIC charges as well as restructuring and other costs, Citi earned $1.86 per share, according to LSEG calculations.', 'Revenue slipped 2% to $21.10 billion, mostly driven by the impact of selling an overseas business in the year-earlier period.', 'Investment banking revenue jumped 35% to $903 million in the quarter, driven by rising debt and equity issuance, topping the $805 million StreetAccount estimate.', 'Fixed income trading revenue fell 10% to $4.2 billion, edging out the $4.14 billion estimate, and equities revenue rose 5% to $1.2 billion, topping the $1.12 billion estimate.', 'The bank also posted an 8% gain to $4.8 billion in revenue in its Services division, which includes businesses that cater to the banking needs of global corporations, thanks to rising deposits and fees.', 'Shares of the bank fell 2% after posting gains earlier.', 'Citigroup CEO Jane Fraser previously said that her sweeping corporate overhaul would be complete by March, and that the firm would give an update to severance expenses along with first-quarter results.', '""Last month marked the end to the organizational simplification we announced in September,"" Fraser said in the earnings release. ""', 'The result is a cleaner, simpler management structure that fully aligns to and facilitates our strategy.', 'Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets.', 'The bank on Friday reiterated its medium term targets for returns hitting at least 11% and generating at least $80 billion in revenue this year.', 'JPMorgan Chase reported results earlier Friday, and Goldman Sachs reports on Monday.']",0.2002210482056794,"Here's how the company performed, compared with estimates from LSEG, formerly known as Refinitiv:The bank said profit fell 27% from a year earlier to $3.37 billion, or $1.58 a share, on higher expenses and credit costs.","Investment banking revenue jumped 35% to $903 million in the quarter, driven by rising debt and equity issuance, topping the $805 million StreetAccount estimate.",0.1999220848083496,"Investment banking revenue jumped 35% to $903 million in the quarter, driven by rising debt and equity issuance, topping the $805 million StreetAccount estimate.","Here's how the company performed, compared with estimates from LSEG, formerly known as Refinitiv:The bank said profit fell 27% from a year earlier to $3.37 billion, or $1.58 a share, on higher expenses and credit costs.",2024-04-12 -"Mattel launches new, less ‘intimidating’ version of Scrabble",https://edition.cnn.com/2024/04/09/business/scrabble-together-game-scli-intl-gbr/index.html," - Updated - 12:12 PM EDT, Tue April 9, 2024 - ","Scrabble, one of the world’s best-loved word games, is to get a new “collaborative” and “accessible” version. - - The game has been around for more than 75 years, entertaining and infuriating players in equal measure with the simple premise of competing to see who can make the highest scoring words from a random selection of letters. - - Now, an updated game named Scrabble Together adds “a second side to the board that is collaborative and faster-paced to make gameplay more accessible for anyone who finds word games intimidating,” according to a statement from Mattel published Tuesday. - - Instead of competing, players collaborate to complete goal cards, and there are helper cards if assistance is required. - - The aim is that the new game mode “brings people together,” Ray Adler, Global Head of Games at the company, said in the statement. - - “Scrabble has truly stood the test of time as one of the most popular board games in history, and we want to ensure the game continues to be inclusive for all players,” he said. “For anyone who’s ever thought, ‘word games aren’t for me’, or felt a little intimidated by the Classic game, Scrabble Together Mode is an ideal option.” - - Mattel said it conducted research among British board-gamers that shows that competitiveness is perceived as declining in younger generations. Of the 2,000 people surveyed, 35% believed baby boomers are the most competitive, followed by millennials on 31% and Gen-Z on 29%. - - “The game speaks to a trend in younger people who want to avoid competitive games, instead favouring teamwork and collaboration working towards a fun goal together,” Brett Smitheram, the current UK number one Scrabble player and 2016 World Scrabble Champion, said in the statement. - - Scrabble Together will be available across Europe, a Mattel spokesperson told CNN on Tuesday. - - The updated version of the game won’t be available in the United States, however, as Mattel does not hold the license there. - - While this is the first major change to the look of the Scrabble board, the game regularly adds new words to its official dictionary in order to keep up as the English language evolves. - - In November 2022, more than 500 new words were added to the seventh edition of the dictionary, which now includes words that weren’t commonly used when the game was first created in the 1930s, like “adorbs,” “dox” or “zoodle.”",CNN,09/04/2024,"['Scrabble, one of the world’s best-loved word games, is to get a new “collaborative” and “accessible” version.', 'The game has been around for more than 75 years, entertaining and infuriating players in equal measure with the simple premise of competing to see who can make the highest scoring words from a random selection of letters.', 'Now, an updated game named Scrabble Together adds “a second side to the board that is collaborative and faster-paced to make gameplay more accessible for anyone who finds word games intimidating,” according to a statement from Mattel published Tuesday.', 'Instead of competing, players collaborate to complete goal cards, and there are helper cards if assistance is required.', 'The aim is that the new game mode “brings people together,” Ray Adler, Global Head of Games at the company, said in the statement.', '“Scrabble has truly stood the test of time as one of the most popular board games in history, and we want to ensure the game continues to be inclusive for all players,” he said. “', 'For anyone who’s ever thought, ‘word games aren’t for me’, or felt a little intimidated by the Classic game, Scrabble Together Mode is an ideal option.”', 'Mattel said it conducted research among British board-gamers that shows that competitiveness is perceived as declining in younger generations.', 'Of the 2,000 people surveyed, 35% believed baby boomers are the most competitive, followed by millennials on 31% and Gen-Z on 29%.', '“The game speaks to a trend in younger people who want to avoid competitive games, instead favouring teamwork and collaboration working towards a fun goal together,” Brett Smitheram, the current UK number one Scrabble player and 2016 World Scrabble Champion, said in the statement.', 'Scrabble Together will be available across Europe, a Mattel spokesperson told CNN on Tuesday.', 'The updated version of the game won’t be available in the United States, however, as Mattel does not hold the license there.', 'While this is the first major change to the look of the Scrabble board, the game regularly adds new words to its official dictionary in order to keep up as the English language evolves.', 'In November 2022, more than 500 new words were added to the seventh edition of the dictionary, which now includes words that weren’t commonly used when the game was firstcreatedin the 1930s, like “adorbs,” “dox” or “zoodle.”']",0.2532435531654782,"“The game speaks to a trend in younger people who want to avoid competitive games, instead favouring teamwork and collaboration working towards a fun goal together,” Brett Smitheram, the current UK number one Scrabble player and 2016 World Scrabble Champion, said in the statement.","Now, an updated game named Scrabble Together adds “a second side to the board that is collaborative and faster-paced to make gameplay more accessible for anyone who finds word games intimidating,” according to a statement from Mattel published Tuesday.",0.4712965935468673,"“Scrabble has truly stood the test of time as one of the most popular board games in history, and we want to ensure the game continues to be inclusive for all players,” he said. “",Mattel said it conducted research among British board-gamers that shows that competitiveness is perceived as declining in younger generations.,2024-04-12 -Energy stocks are hot again. The rally could have more fuel to burn,https://edition.cnn.com/2024/04/12/investing/premarket-stocks-trading-energy-rates/index.html," - Published - 7:00 AM EDT, Fri April 12, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - Energy stocks are back in vogue. - - The S&P 500 index’s energy sector has popped roughly 17% this year, making it the second-best performing category of the benchmark index behind communication services. Shares of Marathon Petroleum have climbed 43%, Exxon Mobil shares have added 22%, Occidental Petroleum shares have gained 16% and Halliburton shares have jumped 13%. - - These robust gains come after a lackluster year for energy stocks. The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand. That was a reversal from the prior year, when energy stocks soared more than 59% after Russia’s invasion of Ukraine sent crude prices well above $100 a barrel. - - A surge in oil prices this year, driven in part by escalating tensions in the Middle East, has also helped prop up energy stocks. West Texas Intermediate crude futures, the US benchmark, settled at $85.02 a barrel on Thursday. Brent crude futures, the international benchmark, settled at $89.74 a barrel. - - Some investors say that energy stocks are poised for more gains, given the continued geopolitical turmoil and the US economy’s resilience. Energy stocks often do well when the economy is strong, since there’s more energy demand to fuel goods- and services production. - - Nancy Curtin, global chief investment officer at AlTi Tiedemann Global, says that energy stocks look attractive right now, in part because they are cheap relative to the rest of the market. The energy sector trades at about 13 times its expected earnings over the next 12 months, lower than the benchmark index’s multiple of 21. - - Hot inflation data, a scorching jobs market and a resilient economy have led traders to wager that the Federal Reserve likely won’t cut interest rates until the second half of the year. Elevated rates are usually bad news for stocks, since they raise the cost of borrowing capital and bump up consumer costs from gas at the pump to food at the grocery store. - - But shares of oil and gas companies tend to do well when rates are elevated. Energy is the S&P 500 sector with the highest propensity to outperform when rates are high, according to RBC Capital Markets data going back to 2010. - - “When the market is expensive and the [economic] environment is questionable, cash flow will be key, and energy has plenty of it,” said Bob Doll, chief executive of Crossmark Global Investments. - - Production cuts by the Organization of the Petroleum Exporting Countries and its allies are also expected to help lift crude prices. Several OPEC+ countries announced in March that they have agreed to extend their voluntary production cut of 2.2 million barrels per day during the second quarter of 2024. - - But not all energy stocks are expected to rise. Shares of clean energy companies, many of which are growing companies trying to load up on capital, were hammered in 2023 by high borrowing costs. - - That trend has continued in 2024. The iShares Global Clean Energy exchange-traded fund, which tracks the performance of sectors from renewable electricity to semiconductors to solar energy, has slid roughly 11% this year. Plug Power shares have slipped 34% this year, SolarEdge Technologies shares have tumbled 25% and Enphase Energy shares have slid 8%. - - Tariff Man could be back in the White House next year – and he’s promising the sequel will be even bigger than the original. - - Former President Donald Trump, who labeled himself “Tariff Man” in 2018, has made clear he wants to pursue a more aggressive trade strategy if he’s elected in November. Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico. - - Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too, reports my colleague Matt Egan. - - Some economists are warning that Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors. - - In a worst-case scenario, economists fear these policies could set the stage for a recession. - - “The policy is very bad. Tariffs make consumers poorer. They shrink the economy,” Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN in a phone interview. “This would probably be the most damaging part of a Trump 2.0 economic agenda.” - - Read more here. - - A key US inflation gauge increased last month at its fastest pace since April 2023, showing that underlying price pressures remain persistent, reports my colleague Alicia Wallace. - - The Producer Price Index, a closely watched measure of inflation at the wholesale level, rose 2.1% for the 12 months ended in March, up from a 1.6% gain in February, according to Bureau of Labor Statistics data released Thursday. - - While the increase was lower than expected — FactSet consensus estimates had the annual increase at 2.3% — the acceleration in the prices producers pay for goods and services highlights the persistence of inflation, the bumpy path to bring it lower, and supports fears that interest rates will stay higher for longer. - - On a monthly basis, US wholesale prices rose 0.2%, markedly slower than the 0.6% gain in February. - - When stripping out the more volatile components of food and energy, the closely watched “core” index moved higher for the third consecutive month, rising to 2.4% annually, up from 2.1% the month before. On a monthly basis, the core PPI slowed in line with expectations to 0.2% from 0.3%. - - Economists had projected that core PPI would rise 2.3% annually. - - Read more here.",CNN,12/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'Energy stocks are back in vogue.', 'The S&P 500 index’s energy sector has popped roughly 17% this year, making it the second-best performing category of the benchmark index behind communication services.', 'Shares of Marathon Petroleum have climbed 43%, Exxon Mobil shares have added 22%, Occidental Petroleum shares have gained 16% and Halliburton shares have jumped 13%.', 'These robust gains come after a lackluster year for energy stocks.', 'The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand.', 'That was a reversal from the prior year, when energy stocks soared more than 59% after Russia’s invasion of Ukraine sent crude prices well above $100 a barrel.', 'A surge in oil prices this year, driven in part by escalating tensions in the Middle East, has also helped prop up energy stocks.', 'West Texas Intermediate crude futures, the US benchmark, settled at $85.02 a barrel on Thursday.', 'Brent crude futures, the international benchmark, settled at $89.74 a barrel.', 'Some investors say that energy stocks are poised for more gains, given the continued geopolitical turmoil and the US economy’s resilience.', 'Energy stocks often do well when the economy is strong, since there’s more energy demand to fuel goods- and services production.', 'Nancy Curtin, global chief investment officer at AlTi Tiedemann Global, says that energy stocks look attractive right now, in part because they are cheap relative to the rest of the market.', 'The energy sector trades at about 13 times its expected earnings over the next 12 months, lower than the benchmark index’s multiple of 21.', 'Hot inflation data, a scorching jobs market and a resilient economy have led traders to wager that the Federal Reserve likely won’t cut interest rates until the second half of the year.', 'Elevated rates are usually bad news for stocks, since they raise the cost of borrowing capital and bump up consumer costs from gas at the pump to food at the grocery store.', 'But shares of oil and gas companies tend to do well when rates are elevated.', 'Energy is the S&P 500 sector with the highest propensity to outperform when rates are high, according to RBC Capital Markets data going back to 2010.', '“When the market is expensive and the [economic] environment is questionable, cash flow will be key, and energy has plenty of it,” said Bob Doll, chief executive of Crossmark Global Investments.', 'Production cuts by the Organization of the Petroleum Exporting Countries and its allies are also expected to help lift crude prices.', 'Several OPEC+ countries announced in March that they have agreed to extend their voluntary production cut of 2.2 million barrels per day during the second quarter of 2024.', 'But not all energy stocks are expected to rise.', 'Shares of clean energy companies, many of which are growing companies trying to load up on capital, were hammered in 2023 by high borrowing costs.', 'That trend has continued in 2024.', 'The iShares Global Clean Energy exchange-traded fund, which tracks the performance of sectors from renewable electricity to semiconductors to solar energy, has slid roughly 11% this year.', 'Plug Power shares have slipped 34% this year, SolarEdge Technologies shares have tumbled 25% and Enphase Energy shares have slid 8%.', 'Tariff Man could be back in the White House next year – and he’s promising the sequel will be even bigger than the original.', 'Former President Donald Trump, who labeled himself “Tariff Man” in 2018, has made clear he wants to pursue a more aggressive trade strategy if he’s elected in November.', 'Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico.', 'Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too, reports my colleague Matt Egan.', 'Some economists are warning that Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors.', 'In a worst-case scenario, economists fear these policies could set the stage for a recession.', '“The policy is very bad.', 'Tariffs make consumers poorer.', 'They shrink the economy,” Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN in a phone interview. “', 'This would probably be the most damaging part of a Trump 2.0 economic agenda.”', 'Read more here.', 'A key US inflation gauge increased last month at its fastest pace since April 2023, showing that underlying price pressures remain persistent, reports my colleague Alicia Wallace.', 'The Producer Price Index, a closely watched measure of inflation at the wholesale level, rose 2.1% for the 12 months ended in March, up from a 1.6% gain in February, according to Bureau of Labor Statistics data released Thursday.', 'While the increase was lower than expected — FactSet consensus estimates had the annual increase at 2.3% — the acceleration in the prices producers pay for goods and services highlights the persistence of inflation, the bumpy path to bring it lower, and supports fears that interest rates will stay higher for longer.', 'On a monthly basis, US wholesale prices rose 0.2%, markedly slower than the 0.6% gain in February.', 'When stripping out the more volatile components of food and energy, the closely watched “core” index moved higher for the third consecutive month, rising to 2.4% annually, up from 2.1% the month before.', 'On a monthly basis, the core PPI slowed in line with expectations to 0.2% from 0.3%.', 'Economists had projected that core PPI would rise 2.3% annually.', 'Read more here.']",0.0899054733401128,"Shares of Marathon Petroleum have climbed 43%, Exxon Mobil shares have added 22%, Occidental Petroleum shares have gained 16% and Halliburton shares have jumped 13%.","Some economists are warning that Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors.",0.2025326010253694,Economists had projected that core PPI would rise 2.3% annually.,"The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand.",2024-04-12 -Taylor Swift’s music is back on TikTok ahead of her latest album’s release,https://edition.cnn.com/2024/04/11/business/taylor-swift-tiktok-return-universal-dispute/index.html," - Published - 1:05 PM EDT, Thu April 11, 2024 - ","Taylor Swift’s music is back on TikTok following an ongoing dispute with her music distributor Universal Music Group over royalties. - - The return of her songs on the popular social platform comes as she is set to release her latest and much-anticipated album, “The Tortured Poets Department,” next week. On Thursday, CNN was able to locate Swift’s songs in TikTok’s music catalog, which can be used for anyone creating new videos. - - In January, Universal Music Group pulled music from its various artists, including Taylor Swift, Ariana Grande, Camila Cabello and Rihanna, after releasing a statement titled, “An open letter to the artist and songwriter community — why we must call time out on TikTok,” in which it said its licensing agreement with the platform was expiring. - - As a result, Universal artists’ music was removed from any TikTok videos with a notice that stated it had been removed due to copyright violation. - - Universal Music Group said at the time TikTok proposed paying its artists and songwriters “a fraction of the rate that similarly situated major social platforms pay.” - - “Ultimately TikTok is trying to build a music-based business, without paying fair value for the music,” it said in a statement. - - Still, Universal said TikTok accounts for only about 1% of its total revenue. - - The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.” - - It’s unclear what terms have been met upon Swift’s return to TikTok. Universal Music Group, TikTok and Taylor Swift’s spokesperson did not respond to a request for comment. Music from other Universal artists’ is still not listed on the platform. - - Swift announced her latest album while accepting her 13th Grammy award in February. Since then, she’s been teasing album covers, song titles and a countdown to its Friday April 19 release on social platforms. It will be her 11th studio album.",CNN,11/04/2024,"['Taylor Swift’s music is back on TikTok following an ongoing dispute with her music distributor Universal Music Group over royalties.', 'The return of her songs on the popular social platform comes as she is set to release her latest and much-anticipated album, “The Tortured Poets Department,” next week.', 'On Thursday, CNN was able to locate Swift’s songs in TikTok’s music catalog, which can be used for anyone creating new videos.', 'In January, Universal Music Group pulled music from its various artists, including Taylor Swift, Ariana Grande, Camila Cabello and Rihanna, after releasing a statement titled, “An open letter to the artist and songwriter community — why we must call time out on TikTok,” in which it said its licensing agreement with the platform was expiring.', 'As a result, Universal artists’ music was removed from any TikTok videos with a notice that stated it had been removed due to copyright violation.', 'Universal Music Group said at the time TikTok proposed paying its artists and songwriters “a fraction of the rate that similarly situated major social platforms pay.”', '“Ultimately TikTok is trying to build a music-based business, without paying fair value for the music,” it said in a statement.', 'Still, Universal said TikTok accounts for only about 1% of its total revenue.', 'The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.”', 'It’s unclear what terms have been met upon Swift’s return to TikTok.', 'Universal Music Group, TikTok and Taylor Swift’s spokesperson did not respond to a request for comment.', 'Music from other Universal artists’ is still not listed on the platform.', 'Swift announced her latest album while accepting her 13th Grammy award in February.', 'Since then, she’s been teasing album covers, song titles and a countdown to its Friday April 19 release on social platforms.', 'It will be her 11th studio album.']",0.0779910115756178,"The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.”","As a result, Universal artists’ music was removed from any TikTok videos with a notice that stated it had been removed due to copyright violation.",-0.945285975933075,,"The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.”",2024-04-12 -Even in peaceful countries be ready for a siren blast,https://www.bbc.co.uk/news/business-68761255,2024-04-11T23:13:02.000Z,"I was halfway through my morning run when I heard it. The sound of the apocalypse. An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT. I glanced at the sky. But nobody else nearby seemed to be taking any notice. My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out. It was the same at the supermarket on the way home. The din of the siren was audible across East Belfast, and yet, life continued as normal. The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour. It is a fire alarm and has to be so loud partly because of the large size of the facility in question. This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids. Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories. Just in case. ""That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""You need to get people's attention."" He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits. It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions. These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free. He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades. In the UK, there are air raid-style sirens in a number of locations. Notably, at the Royal Navy base in Portsmouth. This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there. A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored. There are no plans to change the emergency alarm system."" Some siren locations are, perhaps, less obvious. Take The State Hospital, a psychiatric hospital in Carstairs, Scotland. Its siren system was sounded, for example, when two murderers escaped in the 1970s. Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message. Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems. Take Hampton Water Treatment Works in West London - even it has a siren. In Bradford, there is a siren at a large chemical plant owned by Solenis. In information sent to locals, the company explains why an accident might be harmful. A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries."" Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"". More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products. It too has a siren system in place to warn people in the event of a chemical emergency . These are just some examples. There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren. One siren aficionado has even marked the locations of these systems on an online map. The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour. But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard. H&W confirms that this was not the case. The incident raises the question: Would people react appropriately during a real emergency? People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management. ""So [they] are familiar - 'Hey, I know this sound, it's not a scary sound, it's an action sound - I need to do something',"" she explains. Failing to activate a siren during an emergency could also be harmful. Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023. Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response. ""We need a series of pieces of information or else it's difficult to prompt people to act,"" she says. The range of situations that might require a siren around the world are extremely varied. Sentry Siren, for instance, recently shipped five of its units to Iceland. They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months. And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems. Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat."" Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise. But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements. The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood. Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency. These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally. Most of the time, thankfully, there's no emergency. There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts. Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn't you use all the tools available to you?"" ",BBC,11/04/2024,"['I was halfway through my morning run when I heard it.', 'The sound of the apocalypse.', 'An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT.', 'I glanced at the sky.', 'But nobody else nearby seemed to be taking any notice.', ""My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out."", 'It was the same at the supermarket on the way home.', 'The din of the siren was audible across East Belfast, and yet, life continued as normal.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour.', 'It is a fire alarm and has to be so loud partly because of the large size of the facility in question.', 'This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids.', 'Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories.', 'Just in case. ""', 'That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""', 'You need to get people\'s attention.""', 'He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits.', ""It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions."", 'These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free.', 'He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades.', 'In the UK, there are air raid-style sirens in a number of locations.', 'Notably, at the Royal Navy base in Portsmouth.', 'This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.', 'A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored.', 'There are no plans to change the emergency alarm system.""', 'Some siren locations are, perhaps, less obvious.', 'Take The State Hospital, a psychiatric hospital in Carstairs, Scotland.', 'Its siren system was sounded, for example, when two murderers escaped in the 1970s.', 'Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message.', 'Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems.', 'Take Hampton Water Treatment Works in West London - even it has a siren.', 'In Bradford, there is a siren at a large chemical plant owned by Solenis.', 'In information sent to locals, the company explains why an accident might be harmful.', 'A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries.""', 'Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"".', 'More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products.', 'It too has a siren system in place to warn people in the event of a chemical emergency .', 'These are just some examples.', 'There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren.', 'One siren aficionado has even marked the locations of these systems on an online map.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour.', ""But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard."", 'H&W confirms that this was not the case.', 'The incident raises the question: Would people react appropriately during a real emergency?', 'People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management. ""', 'So [they] are familiar - \'Hey, I know this sound, it\'s not a scary sound, it\'s an action sound - I need to do something\',"" she explains.', 'Failing to activate a siren during an emergency could also be harmful.', 'Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023.', 'Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response. ""', 'We need a series of pieces of information or else it\'s difficult to prompt people to act,"" she says.', 'The range of situations that might require a siren around the world are extremely varied.', 'Sentry Siren, for instance, recently shipped five of its units to Iceland.', ""They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months."", ""And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems."", 'Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat.""', 'Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise.', 'But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements.', ""The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood."", 'Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency.', 'These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally.', ""Most of the time, thankfully, there's no emergency."", ""There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts."", 'Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn\'t you use all the tools available to you?""']",-0.1702984417179804,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""","There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts.",0.2383095145225525,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. """,Failing to activate a siren during an emergency could also be harmful.,2024-04-12 -"Macy's settles proxy fight with activist Arkhouse, adds two of the firm's nominees as directors",https://www.cnbc.com/2024/04/10/macys-settles-proxy-fight-with-activist-arkhouse-adds-two-directors.html,2024-04-10T18:59:22+0000,"In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board.Ric Clark and Rick Markee will join Macy's board effective immediately. They'll be part of the committee that's in charge of overseeing and evaluating Arkhouse's bid to take the department store private and making recommendations to the board on its acquisition proposal. ""The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously,"" Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane said. ""We appreciate the Board's engagement and look forward to working with them to unlock shareholder value.""Clark has spent nearly 40 years in the real estate industry and previously served as chairman and CEO of Brookfield Property Group, Brookfield Property Partners and Brookfield Office Properties. Markee brings retail chops to Macy's board: He previously served as the CEO of Vitamin Shoppe and currently sits on the board of discount retailer Five Below.Macy's shares fell slightly in intraday trading Wednesday.The reshuffle comes as Arkhouse makes strides in its efforts to take the 165-year-old department store private, a deal that Macy's had previously resisted. The department store has provided the Arkhouse-led investor group with confidential business information as the two sides continue to negotiate the terms of a possible sale. ""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders,"" Macy's said in a statement. Arkhouse first submitted an offer to take the retailer private in 2023. The investor, which is working in concert with Brigade Management, has since increased its offer multiple times. The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.The storied retailer has struggled to hold on to its market share as it faces increased competition from retailers like TJX Companies, the owner of TJ Maxx, and Target. Department stores have had to work harder to differentiate themselves and entice customers as brands move away from wholesalers and work to drive sales through their own website and stores. Macy's said in February that it would close around 150 of its roughly 500 stores, just weeks after CEO Tony Spring stepped into the top job, and has laid off thousands of workers in recent years. Macy's has attracted activist attention before. Starboard Value, a well-established investor in the space, took a position in the retailer in 2015, only to sell it off two years later after a potential acquisition fizzled.Arkhouse's bid differs from past engagements at the company. The real estate investor seeks to take the company private, remove it from the rigors of the public market and monetize its real estate assets. During a meeting with JPMorgan retail analysts, Arkhouse said it views Macy's as a ""real estate company with an Adjacent Retail Business"" because it thinks the department store's owned real estate is worth more than the current enterprise value of the company, according to a March research note. ""The key distinction stated in Arkhouse's thesis is to run the organization as a real estate operator with a focus on improving the fundamental creditworthiness of Macy's as a tenant driven by EBITDA dollar growth as a private company,"" the research note stated. ""To be clear, Arkhouse does not believe in selling Macy's real estate assets in short order, but intends to own the assets and monetize on the real estate via financing (not outright asset sales) to provide cash for shareholder returns or for business reinvestments.""In a subsequent meeting with Macy's brass, CEO Tony Spring disagreed with Arkhouse's view. ""We do not believe we are a real estate company first and that all decisions should be looked at through the prism of real estate,"" Spring said, according to a JPMorgan research note. The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.",CNBC,10/04/2024,"[""In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board."", ""Ric Clark and Rick Markee will join Macy's board effective immediately."", ""They'll be part of the committee that's in charge of overseeing and evaluating Arkhouse's bid to take the department store private and making recommendations to the board on its acquisition proposal."", '""The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously,"" Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane said. ""', ""We appreciate the Board's engagement and look forward to working with them to unlock shareholder value."", '""Clark has spent nearly 40 years in the real estate industry and previously served as chairman and CEO of Brookfield Property Group, Brookfield Property Partners and Brookfield Office Properties.', ""Markee brings retail chops to Macy's board: He previously served as the CEO of Vitamin Shoppe and currently sits on the board of discount retailer Five Below."", ""Macy's shares fell slightly in intraday trading Wednesday."", ""The reshuffle comes as Arkhouse makes strides in its efforts to take the 165-year-old department store private, a deal that Macy's had previously resisted."", 'The department store has provided the Arkhouse-led investor group with confidential business information as the two sides continue to negotiate the terms of a possible sale.', '""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy\'s, Inc. shareholders,"" Macy\'s said in a statement.', 'Arkhouse first submitted an offer to take the retailer private in 2023.', 'The investor, which is working in concert with Brigade Management, has since increased its offer multiple times.', 'The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.', 'The storied retailer has struggled to hold on to its market share as it faces increased competition from retailers like TJX Companies, the owner of TJ Maxx, and Target.', 'Department stores have had to work harder to differentiate themselves and entice customers as brands move away from wholesalers and work to drive sales through their own website and stores.', ""Macy's said in February that it would close around 150 of its roughly 500 stores, just weeks after CEO Tony Spring stepped into the top job, and has laid off thousands of workers in recent years."", ""Macy's has attracted activist attention before."", 'Starboard Value, a well-established investor in the space, took a position in the retailer in 2015, only to sell it off two years later after a potential acquisition fizzled.', ""Arkhouse's bid differs from past engagements at the company."", 'The real estate investor seeks to take the company private, remove it from the rigors of the public market and monetize its real estate assets.', 'During a meeting with JPMorgan retail analysts, Arkhouse said it views Macy\'s as a ""real estate company with an Adjacent Retail Business"" because it thinks the department store\'s owned real estate is worth more than the current enterprise value of the company, according to a March research note.', '""The key distinction stated in Arkhouse\'s thesis is to run the organization as a real estate operator with a focus on improving the fundamental creditworthiness of Macy\'s as a tenant driven by EBITDA dollar growth as a private company,"" the research note stated.', '""To be clear, Arkhouse does not believe in selling Macy\'s real estate assets in short order, but intends to own the assets and monetize on the real estate via financing (not outright asset sales) to provide cash for shareholder returns or for business reinvestments.', '""In a subsequent meeting with Macy\'s brass, CEO Tony Spring disagreed with Arkhouse\'s view.', '""We do not believe we are a real estate company first and that all decisions should be looked at through the prism of real estate,"" Spring said, according to a JPMorgan research note.', ""The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.""]",0.245258692028108,"""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders,"" Macy's said in a statement.","In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board.",0.3982523571361195,"The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.",Macy's shares fell slightly in intraday trading Wednesday.,2024-04-12 -"Nike CEO blames remote work for innovation slowdown, saying it's hard to build disruptive products on Zoom",https://www.cnbc.com/2024/04/12/nike-ceo-blames-remote-work-for-innovation-slowdown.html,2024-04-12T18:07:18+0000,"In this articleNike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home. In an interview with CNBC's Sara Eisen from Paris, Donahoe was asked about the company's lack of fresh new products in its assortment, which had been a concern among investors. ""What's been missing is the kind of bold, disruptive innovation that Nike's known for and when we look back, the reasons are fairly straightforward,"" said Donahoe.He pointed out that footwear factories in Vietnam were forced to shutter during the Covid-19 pandemic but said ""even more importantly,"" Nike's employees worked from home for 2.5 years.""In hindsight, it turns out, it's really hard to do bold, disruptive innovation, to develop a boldly disruptive shoe on Zoom,"" Donahoe said. ""Our teams came back together 18 months ago in person, and we recognize this. So we realigned our company, and over the last year we have been ruthlessly focused on rebuilding our disruptive innovation pipeline along with our iterative innovation pipeline."" Donahoe said Nike's innovation pipeline ""is as strong as ever,"" and consumers can expect to start seeing new product drops each season, as well as the fresh storytelling the brand has long been known for. The chief executive's comments come at a tough time for the company. Some analysts and investors have criticized the sneaker giant for falling behind on innovation and losing market share to upstarts like On Running and Hoka, which have won over a new generation of runners and have grown rapidly in recent years. In December, Nike announced a broad restructuring plan to reduce costs by about $2 billion over the next three years. It also cut its sales guidance as it warned of softer demand in the quarters ahead. Two months later, it said it was shedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand.Donahoe insisted Friday that Nike is still ""gaining share"" and remains a dominant force in running and all things sport. ""We've done more to advance running than any brand in the world over the last 50 years and we continue to lead with elite runners,"" said Donahoe when asked about On Running and Hoka.  ""Innovation has always been what's marked Nike in running, as in other categories and so we're not just going to copy what other people do, we're gonna bring innovation.""",CNBC,12/04/2024,"[""In this articleNike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home."", ""In an interview with CNBC's Sara Eisen from Paris, Donahoe was asked about the company's lack of fresh new products in its assortment, which had been a concern among investors."", '""What\'s been missing is the kind of bold, disruptive innovation that Nike\'s known for and when we look back, the reasons are fairly straightforward,"" said Donahoe.', 'He pointed out that footwear factories in Vietnam were forced to shutter during the Covid-19 pandemic but said ""even more importantly,"" Nike\'s employees worked from home for 2.5 years.', '""In hindsight, it turns out, it\'s really hard to do bold, disruptive innovation, to develop a boldly disruptive shoe on Zoom,"" Donahoe said.', '""Our teams came back together 18 months ago in person, and we recognize this.', 'So we realigned our company, and over the last year we have been ruthlessly focused on rebuilding our disruptive innovation pipeline along with our iterative innovation pipeline.', '""Donahoe said Nike\'s innovation pipeline ""is as strong as ever,"" and consumers can expect to start seeing new product drops each season, as well as the fresh storytelling the brand has long been known for.', ""The chief executive's comments come at a tough time for the company."", 'Some analysts and investors have criticized the sneaker giant for falling behind on innovation and losing market share to upstarts like On Running and Hoka, which have won over a new generation of runners and have grown rapidly in recent years.', 'In December, Nike announced a broad restructuring plan to reduce costs by about $2 billion over the next three years.', 'It also cut its sales guidance as it warned of softer demand in the quarters ahead.', ""Two months later, it said it was shedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand."", 'Donahoe insisted Friday that Nike is still ""gaining share"" and remains a dominant force in running and all things sport.', '""We\'ve done more to advance running than any brand in the world over the last 50 years and we continue to lead with elite runners,"" said Donahoe when asked about On Running and Hoka. ""', 'Innovation has always been what\'s marked Nike in running, as in other categories and so we\'re not just going to copy what other people do, we\'re gonna bring innovation.""']",0.2379259423825198,"""Donahoe said Nike's innovation pipeline ""is as strong as ever,"" and consumers can expect to start seeing new product drops each season, as well as the fresh storytelling the brand has long been known for.","In this articleNike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home.",-0.1813050210475921,"""Donahoe said Nike's innovation pipeline ""is as strong as ever,"" and consumers can expect to start seeing new product drops each season, as well as the fresh storytelling the brand has long been known for.",It also cut its sales guidance as it warned of softer demand in the quarters ahead.,2024-04-12 -"Ford prepares to resume F-150 Lightning shipments, drops prices on some models",https://www.cnbc.com/2024/04/11/f-150-lightning-ford-prepares-to-resume-shipments-drops-some-prices.html,2024-04-11T20:35:02+0000,"In this articleDEARBORN, Mich. — Ford Motor is lowering the starting prices of some all-electric F-150 Lightning pickup trucks as it prepares to resume shipping the vehicles after quality issues.The included models are expected to ship later this month for between $2,000 and $5,500 less than before the automaker halted shipments for undisclosed quality issues in early February.The biggest price decrease is on the pickup's mid-level Flash trim, now priced $5,500 lower at $67,995. That was followed by $2,500 off Lariat models, now priced at $74,995, as well as a $2,000 reduction for XLT models, with a new price of $62,995.Prices on the $54,995 entry-level Pro model and an $84,995 top-end Platinum model were unchanged.The cost reductions are the latest electric vehicle price changes for the broader automotive industry amid slower-than-expected consumer adoption. Ford's cuts come three months after it adjusted Lightning prices, including increasing some model prices.""It's part of the normal response to both where the market place is, our supply and where our inventory sits ... which we do all the time,"" Ford Chief Operating Officer Kumar Galhotra told reporters on the sidelines of an event at its F-150 plant in Dearborn, Michigan. ""New technology like electric vehicles takes some time to find the right sweet spot and the balance.""Galhotra declined to comment on the nature of the problems that caused the stop-shipment as well as on why gas and diesel versions of the F-150 were held for months after production started. He broadly said engineers constantly write software onto modules for the vehicles, which are all connected with modems, to detect any anomalies and determine defects.""There were some several small issues,"" Galhotra said. ""Once we find the solution to them, we fix them and then we ship. … We try to find every single thing that we can.""In media materials released on Thursday, Ford referred to what it called an ""unprecedented truck offensive,"" saying it assembled 144,000 F-150 full-size and Ranger midsize pickups during the first quarter of the year that are making their way to dealers and customers. Roughly 92% of the pickups built were F-150 pickups.Having a large number of vehicles is not a good thing for an automaker. It means more costs on their books and delayed deliveries to dealers and customers.Automotive News on April 4 reported that Ford has revived a controversial practice of goal-based incentives for dealers called stair-step programs to increase sales for the vehicles. Since February, the automaker, which did not immediately respond to a request for comment on the program, has been offering retailers escalating cash bonuses if they reach and exceed monthly F-150 sales targets, Automotive News reported.Ford last year also delayed shipments of its larger Super Duty pickups, which are siblings to the F-150, for months to do additional quality checks and inspections following issues with recent launches that led to recalls and high warranty costs.""We're going to prioritize quality, always. These are very complex vehicles with complex launches. We want to take the time to make sure everything is good, everything is perfect,"" Galhotra said. ""And when we're satisfied with the level of quality, then and only then we'll start shipping to our customers.""Ford has said its warranty costs contribute to a cost disadvantage of $7 billion to $8 billion annually compared to its traditional competitors.Correction: Automotive News released its report on Ford's goal-based incentives on April 4. A previous version of this article misstated the date.",CNBC,11/04/2024,"['In this articleDEARBORN, Mich. — Ford Motor is lowering the starting prices of some all-electric F-150 Lightning pickup trucks as it prepares to resume shipping the vehicles after quality issues.', 'The included models are expected to ship later this month for between $2,000 and $5,500 less than before the automaker halted shipments for undisclosed quality issues in early February.', ""The biggest price decrease is on the pickup's mid-level Flash trim, now priced $5,500 lower at $67,995."", 'That was followed by $2,500 off Lariat models, now priced at $74,995, as well as a $2,000 reduction for XLT models, with a new price of $62,995.Prices on the $54,995 entry-level Pro model and an $84,995 top-end Platinum model were unchanged.', 'The cost reductions are the latest electric vehicle price changes for the broader automotive industry amid slower-than-expected consumer adoption.', ""Ford's cuts come three months after it adjusted Lightning prices, including increasing some model prices."", '""It\'s part of the normal response to both where the market place is, our supply and where our inventory sits ... which we do all the time,"" Ford Chief Operating Officer Kumar Galhotra told reporters on the sidelines of an event at its F-150 plant in Dearborn, Michigan. ""', 'New technology like electric vehicles takes some time to find the right sweet spot and the balance.', '""Galhotra declined to comment on the nature of the problems that caused the stop-shipment as well as on why gas and diesel versions of the F-150 were held for months after production started.', 'He broadly said engineers constantly write software onto modules for the vehicles, which are all connected with modems, to detect any anomalies and determine defects.', '""There were some several small issues,"" Galhotra said. ""', 'Once we find the solution to them, we fix them and then we ship. …', 'We try to find every single thing that we can.', '""In media materials released on Thursday, Ford referred to what it called an ""unprecedented truck offensive,"" saying it assembled 144,000 F-150 full-size and Ranger midsize pickups during the first quarter of the year that are making their way to dealers and customers.', 'Roughly 92% of the pickups built were F-150 pickups.', 'Having a large number of vehicles is not a good thing for an automaker.', 'It means more costs on their books and delayed deliveries to dealers and customers.', 'Automotive News on April 4 reported that Ford has revived a controversial practice of goal-based incentives for dealers called stair-step programs to increase sales for the vehicles.', 'Since February, the automaker, which did not immediately respond to a request for comment on the program, has been offering retailers escalating cash bonuses if they reach and exceed monthly F-150 sales targets, Automotive News reported.', 'Ford last year also delayed shipments of its larger Super Duty pickups, which are siblings to the F-150, for months to do additional quality checks and inspections following issues with recent launches that led to recalls and high warranty costs.', '""We\'re going to prioritize quality, always.', 'These are very complex vehicles with complex launches.', 'We want to take the time to make sure everything is good, everything is perfect,"" Galhotra said. ""', ""And when we're satisfied with the level of quality, then and only then we'll start shipping to our customers."", '""Ford has said its warranty costs contribute to a cost disadvantage of $7 billion to $8 billion annually compared to its traditional competitors.', ""Correction: Automotive News released its report on Ford's goal-based incentives on April 4."", 'A previous version of this article misstated the date.']",0.0526874844165953,"We want to take the time to make sure everything is good, everything is perfect,"" Galhotra said. ""","""In media materials released on Thursday, Ford referred to what it called an ""unprecedented truck offensive,"" saying it assembled 144,000 F-150 full-size and Ranger midsize pickups during the first quarter of the year that are making their way to dealers and customers.",0.0059821605682373,Automotive News on April 4 reported that Ford has revived a controversial practice of goal-based incentives for dealers called stair-step programs to increase sales for the vehicles.,"Ford last year also delayed shipments of its larger Super Duty pickups, which are siblings to the F-150, for months to do additional quality checks and inspections following issues with recent launches that led to recalls and high warranty costs.",2024-04-12 -Barstool's Dave Portnoy won $2.7 million betting on UConn in NCAA men's final,https://www.cnbc.com/2024/04/09/barstools-dave-portnoy-won-2point7-million-on-uconn-ncaa-bet.html,2024-04-09T16:13:07+0000,"In this articleBarstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue on Monday night in the NCAA men's championship game.Portnoy tweeted the massive score off a March 20 $600,000 wager on the Huskies winning the national championship. Portnoy's bet was a moneyline wager placed right before the NCAA tournament began, and required UConn to win six straight games for it to pay off for him. The bet paid off at 3.6-to-1.DraftKings confirmed to CNBC it took the bet.""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.""Barstool signed a multiyear deal with DraftKings in February. The sports media company was previously owned by Penn Entertainment.DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C. — five additional states since this time last year.The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year. That's equivalent to 2.2% of the total handle wagered on any sporting events last year.Geolocation tracking company GeoComply, which operators use to police bettors' locations, told CNBC it saw a 42% increase in checks over the 2023 tournament.DraftKings said Monday's game was the most bet-on college basketball game of all time for the sportsbook.FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle.At Caesars Sportsbook, Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game.""It was a tournament for the customers as favorites covered the spread 61% of the time,"" Craig Mucklow, Caesars Sportsbook's vice president of trading, said in an email.Betting on the women's tournament was particularly lucrative for the sportsbooks.South Carolina's undefeated season and the heroics of superstar Caitlin Clark fueled a massive influx of bets. FanDuel, BetMGM and Fanatics say the championship game was their single biggest betting event on women's sports. Caesars said the women's championship saw double the previous handle record for a women's college basketball game.""We could only imagine the handle if the game was given a proper primetime slot,"" Mucklow said of the women's final.— CNBC's Dan Mangan contributed to this report.",CNBC,09/04/2024,"[""In this articleBarstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue on Monday night in the NCAA men's championship game."", 'Portnoy tweeted the massive score off a March 20 $600,000 wager on the Huskies winning the national championship.', ""Portnoy's bet was a moneyline wager placed right before the NCAA tournament began, and required UConn to win six straight games for it to pay off for him."", 'The bet paid off at 3.6-to-1.DraftKings confirmed to CNBC it took the bet.', '""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.', '""Barstool signed a multiyear deal with DraftKings in February.', 'The sports media company was previously owned by Penn Entertainment.', 'DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C. — five additional states since this time last year.', 'The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year.', ""That's equivalent to 2.2% of the total handle wagered on any sporting events last year."", ""Geolocation tracking company GeoComply, which operators use to police bettors' locations, told CNBC it saw a 42% increase in checks over the 2023 tournament."", ""DraftKings said Monday's game was the most bet-on college basketball game of all time for the sportsbook."", ""FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle."", ""At Caesars Sportsbook, Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game."", '""It was a tournament for the customers as favorites covered the spread 61% of the time,"" Craig Mucklow, Caesars Sportsbook\'s vice president of trading, said in an email.', ""Betting on the women's tournament was particularly lucrative for the sportsbooks."", ""South Carolina's undefeated season and the heroics of superstar Caitlin Clark fueled a massive influx of bets."", ""FanDuel, BetMGM and Fanatics say the championship gamewas their single biggest betting event on women's sports."", ""Caesars said the women's championship saw double the previous handle record for a women's college basketball game."", '""We could only imagine the handle if the game was given a proper primetime slot,"" Mucklow said of the women\'s final.—', ""CNBC's Dan Mangan contributed to this report.""]",0.3113093424054897,"""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.",The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year.,0.9950777232646942,FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle.,,2024-04-12 -"StubHub eyes summer IPO, seeks $16.5 billion valuation",https://www.cnbc.com/2024/04/12/stubhub-eyes-summer-ipo-seeks-16point5-billion-valuation.html,2024-04-12T19:27:32+0000,"In this articleStubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC.The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued at in late 2021 during its latest round of private funding.The company has been working with JPMorgan and Goldman Sachs over the past two years on the IPO. The Information was the first to report the news.StubHub has been a longtime player in the ticketing industry since its launch in 2000. It was purchased by eBay for $310 million in 2007, but reacquired by its co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.Online ticketing rival SeatGeek has also reportedly been evaluating a potential IPO this year. If StubHub does enter the public market, it will trade alongside competitors Vivid Seats and Live Nation. Vivid Seats has a market cap of $1.2 billion and Live Nation is valued at just under $24 billion, according to FactSet.The live events marketplace has bloomed in the wake of the Covid-19 pandemic, as people have gravitated toward out-of-home entertainment and experiences. Record-breaking concert ticket sales, such as those seen for Taylor Swift's Eras Tour and Beyoncé's Renaissance Tour, have fueled revenues for ticketing companies across the board.StubHub, JPMorgan and Goldman Sachs all declined to comment about potential timing for an IPO.",CNBC,12/04/2024,"['In this articleStubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC.The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued at in late 2021 during its latest round of private funding.', 'The company has been working with JPMorgan and Goldman Sachs over the past two years on the IPO.', 'The Information was the first to report the news.', 'StubHub has been a longtime player in the ticketing industry since its launch in 2000.', 'It was purchased by eBay for $310 million in 2007, but reacquired by its co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.', 'Online ticketing rival SeatGeek has also reportedly been evaluating a potential IPO this year.', 'If StubHub does enter the public market, it will trade alongside competitors Vivid Seats and Live Nation.', 'Vivid Seats has a market cap of $1.2 billion and Live Nation is valued at just under $24 billion, according to FactSet.', 'The live events marketplace has bloomed in the wake of the Covid-19 pandemic, as people have gravitated toward out-of-home entertainment and experiences.', ""Record-breaking concert ticket sales, such as those seen for Taylor Swift's Eras Tour and Beyoncé's Renaissance Tour, have fueled revenues for ticketing companies across the board."", 'StubHub, JPMorgan and Goldman Sachs all declined to comment about potential timing for an IPO.']",0.1384561226075203,"In this articleStubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC.The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued at in late 2021 during its latest round of private funding.",,0.969626635313034,"Record-breaking concert ticket sales, such as those seen for Taylor Swift's Eras Tour and Beyoncé's Renaissance Tour, have fueled revenues for ticketing companies across the board.",,2024-04-12 -What to expect from bank earnings as high interest rates pressure smaller players,https://www.cnbc.com/2024/04/11/bank-earnings-high-interest-rates-set-to-pressure-small-players.html,2024-04-11T18:25:51+0000,"In this articleThe benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday.Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones. That trend is set to continue, especially as expectations for the magnitude of Federal Reserve interest rates cuts have fallen sharply since the start of the year.The evolving picture on interest rates — dubbed ""higher for longer"" as expectations for rate cuts this year shift from six reductions to perhaps three – will boost revenue for big banks while squeezing many smaller ones, adding to concerns for the group, according to analysts and investors.JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week. On Monday, M&T Bank posts results, one of the first regional lenders to report this period.The focus for all of them will be how the shifting view on interest rates will impact funding costs and holdings of commercial real estate loans.""There's a handful of banks that have done a very good job managing the rate cycle, and there's been a lot of banks that have mismanaged it,"" said Christopher McGratty, head of U.S. bank research at KBW.Take, for instance, Valley Bank, a regional lender based in Wayne, New Jersey. Guidance the bank gave in January included expectations for seven rate cuts this year, which would've allowed it to pay lower rates to depositors.Instead, the bank might be forced to slash its outlook for net interest income as cuts don't materialize, according to Morgan Stanley analyst Manan Gosalia, who has the equivalent of a sell rating on the firm.Net interest income is the money generated by a bank's loans and securities, minus what it pays for deposits.Smaller banks have been forced to pay up for deposits more so than larger ones, which are perceived to be safer, in the aftermath of the Silicon Valley Bank failure last year. Rate cuts would've provided some relief for smaller banks, while also helping commercial real estate borrowers and their lenders.Valley Bank faces ""more deposit pricing pressure than peers if rates stay higher for longer"" and has more commercial real estate exposure than other regionals, Gosalia said in an April 4 note.Meanwhile, for large banks like JPMorgan, higher rates generally mean they can exploit their funding advantages for longer. They enjoy the benefits of reaping higher interest for things like credit card loans and investments made during a time of elevated rates, while generally paying low rates for deposits.JPMorgan could raise its 2024 guidance for net interest income by an estimated $2 billion to $3 billion, to $93 billion, according to UBS analyst Erika Najarian.Large U.S. banks also tend to have more diverse revenue streams than smaller ones from areas like wealth management and investment banking. Both should provide boosts to first-quarter results, thanks to buoyant markets and a rebound in Wall Street activity.Furthermore, big banks tend to have much lower exposure to commercial real estate compared with smaller players, and have generally higher levels of provisions for loan losses, thanks to tougher regulations on the group.That difference could prove critical this earnings season.Concerns over commercial real estate, especially office buildings and multifamily dwellings, have dogged smaller banks since New York Community Bank stunned investors in January with its disclosures of drastically larger loan provisions and broader operational challenges. The bank needed a $1 billion-plus lifeline last month to help steady the firm.NYCB will likely have to cut its net interest income guidance because of shrinking deposits and margins, according to JPMorgan analyst Steven Alexopoulos.There is a record $929 billion in commercial real estate loans coming due this year, and roughly one-third of the loans are for more money than the underlying property values, according to advisory firm Newmark.""I don't think we're out of the woods in terms of commercial real estate rearing its ugly head for bank earnings, especially if rates stay higher for longer,"" said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.""If there's even a whiff of problems around the credit experience with your commercial lending operation, as was the case with NYCB, you've seen how quickly that can get away from you,"" he said.",CNBC,11/04/2024,"['In this articleThe benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday.', ""Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones."", 'That trend is set to continue, especially as expectations for the magnitude of Federal Reserve interest rates cuts have fallen sharply since the start of the year.', 'The evolving picture on interest rates — dubbed ""higher for longer"" as expectations for rate cuts this year shift from six reductions to perhaps three – will boost revenue for big banks while squeezing many smaller ones, adding to concerns for the group, according to analysts and investors.', ""JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week."", 'On Monday, M&T Bank posts results, one of the first regional lenders to report this period.', 'The focus for all of them will be how the shifting view on interest rates will impact funding costs and holdings of commercial real estate loans.', '""There\'s a handful of banks that have done a very good job managing the rate cycle, and there\'s been a lot of banks that have mismanaged it,"" said Christopher McGratty, head of U.S. bank research at KBW.Take, for instance, Valley Bank, a regional lender based in Wayne, New Jersey.', ""Guidance the bank gave in January included expectations for seven rate cuts this year, which would've allowed it to pay lower rates to depositors."", ""Instead, the bank might be forced to slash its outlook for net interest income as cuts don't materialize, according to Morgan Stanley analyst Manan Gosalia, who has the equivalent of a sell rating on the firm."", ""Net interest income is the money generated by a bank's loans and securities, minus what it pays for deposits."", 'Smaller banks have been forced to pay up for deposits more so than larger ones, which are perceived to be safer, in the aftermath of the Silicon Valley Bank failure last year.', ""Rate cuts would've provided some relief for smaller banks, while also helping commercial real estate borrowers and their lenders."", 'Valley Bank faces ""more deposit pricing pressure than peers if rates stay higher for longer"" and has more commercial real estate exposure than other regionals, Gosalia said in an April 4 note.', 'Meanwhile, for large banks like JPMorgan, higher rates generally mean they can exploit their funding advantages for longer.', 'They enjoy the benefits of reaping higher interest for things like credit card loans and investments made during a time of elevated rates, while generally paying low rates for deposits.', 'JPMorgan could raise its 2024 guidance for net interest income by an estimated $2 billion to $3 billion, to $93 billion, according to UBS analyst Erika Najarian.', 'Large U.S. banks also tend to have more diverse revenue streams than smaller ones from areas like wealth management and investment banking.', 'Both should provide boosts to first-quarter results, thanks to buoyant markets and a rebound in Wall Street activity.', 'Furthermore, big banks tend to have much lower exposure to commercial real estate compared with smaller players, and have generally higher levels of provisions for loan losses, thanks to tougher regulations on the group.', 'That difference could prove critical this earnings season.', 'Concerns over commercial real estate, especially office buildings and multifamily dwellings, have dogged smaller banks since New York Community Bank stunned investors in January with its disclosures of drastically larger loan provisions and broader operational challenges.', 'The bank needed a $1 billion-plus lifeline last month to help steady the firm.', 'NYCB will likely have to cut its net interest income guidance because of shrinking deposits and margins, according to JPMorgan analyst Steven Alexopoulos.', 'There is a record $929 billion in commercial real estate loans coming due this year, and roughly one-third of the loans are for more money than the underlying property values, according to advisory firm Newmark.', '""I don\'t think we\'re out of the woods in terms of commercial real estate rearing its ugly head for bank earnings, especially if rates stay higher for longer,"" said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.', '""If there\'s even a whiff of problems around the credit experience with your commercial lending operation, as was the case with NYCB, you\'ve seen how quickly that can get away from you,"" he said.']",0.1279489506133157,"They enjoy the benefits of reaping higher interest for things like credit card loans and investments made during a time of elevated rates, while generally paying low rates for deposits.","Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones.",0.2527938265549509,"JPMorgan could raise its 2024 guidance for net interest income by an estimated $2 billion to $3 billion, to $93 billion, according to UBS analyst Erika Najarian.","Concerns over commercial real estate, especially office buildings and multifamily dwellings, have dogged smaller banks since New York Community Bank stunned investors in January with its disclosures of drastically larger loan provisions and broader operational challenges.",2024-04-12 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-04-12 -Motor finance: Firms warned to hold cash back for probe,https://www.bbc.co.uk/news/business-68797646,2024-04-12T10:41:07.000Z,"The UK's financial watchdog has warned motor finance firms to hold back cash for potential payouts as it continues an investigation into the sector. The Financial Conduct Authority (FCA) also revealed that firms ""are struggling to promptly provide"" data for the probe. About 17,000 people have made already made complaints to an ombudsman. The cases surround commission arrangements between lenders and car dealers. Some lenders had allowed dealers to adjust interest rates, which would improve the commission they received. As a result, these arrangements created an incentive for brokers to increase how much people were charged for their car loan. In 2021, the FCA banned these discretionary commission arrangements, following a review, claiming it would collectively save drivers £165m a year, or about £100-£200 on a loan. The potential cost of compensation has raised some comparisons to the amount paid out during the payment protection insurance (PPI) mis-selling scandal, which cost banks tens of billions of pounds. In February, banking giant Lloyds said it had set aside £450m to cover the potential cost of the investigation. Lloyds is seen as the most exposed of the major banks to any claims as it owns one of the UK's largest motor finance providers, Black Horse. Speaking to the BBC's Today programme at the time, Lloyds chief executive Charlie Nunn said: ""The extent of any misconduct or loss on behalf of customers, if any, remains very unclear so we welcome the FCA's announcement a few weeks ago to look into this to provide clarity for customers and the industry."" Barclays, meanwhile, is challenging a ruling that it unfairly paid commission to a car finance broker. When the FCA first announced its probe in January, it cited two cases, including that of a ""Miss L"", who was found to have been mis-sold car finance by Barclays Partner Finance. The Financial Ombudsman ruled that the bank ""had failed to act fairly"" as the customer had not been made aware that her package included a £1,600 commission to a credit broker. Barclays is appealing the decision, although according to Sky News reports, it has complied with the award required by the ombudsman. In the update on Friday, the FCA also said it had faced issues getting the necessary information from various companies to conduct its investigation. ""Firms involved in our review have engaged with us constructively. However, many firms are struggling to promptly provide the data we need,"" it said. Claims for compensation can be made if you bought a motor vehicle on finance before 28 January 2021 and the finance provider and car dealer had a discretionary commission arrangement. You can read guidance on motor finance complaints on the Financial Ombudsman site here, and guidance from the Financial Conduct Authority here. ",BBC,12/04/2024,"[""The UK's financial watchdog has warned motor finance firms to hold back cash for potential payouts as it continues an investigation into the sector."", 'The Financial Conduct Authority (FCA) also revealed that firms ""are struggling to promptly provide"" data for the probe.', 'About 17,000 people have made already made complaints to an ombudsman.', 'The cases surround commission arrangements between lenders and car dealers.', 'Some lenders had allowed dealers to adjust interest rates, which would improve the commission they received.', 'As a result, these arrangements created an incentive for brokers to increase how much people were charged for their car loan.', 'In 2021, the FCA banned these discretionary commission arrangements, following a review, claiming it would collectively save drivers £165m a year, or about £100-£200 on a loan.', 'The potential cost of compensation has raised some comparisons to the amount paid out during the payment protection insurance (PPI) mis-selling scandal, which cost banks tens of billions of pounds.', 'In February, banking giant Lloyds said it had set aside £450m to cover the potential cost of the investigation.', ""Lloyds is seen as the most exposed of the major banks to any claims as it owns one of the UK's largest motor finance providers, Black Horse."", 'Speaking to the BBC\'s Today programme at the time, Lloyds chief executive Charlie Nunn said: ""The extent of any misconduct or loss on behalf of customers, if any, remains very unclear so we welcome the FCA\'s announcement a few weeks ago to look into this to provide clarity for customers and the industry.""', 'Barclays, meanwhile, is challenging a ruling that it unfairly paid commission to a car finance broker.', 'When the FCA first announced its probe in January, it cited two cases, including that of a ""Miss L"", who was found to have been mis-sold car finance by Barclays Partner Finance.', 'The Financial Ombudsman ruled that the bank ""had failed to act fairly"" as the customer had not been made aware that her package included a £1,600 commission to a credit broker.', 'Barclays is appealing the decision, although according to Sky News reports, it has complied with the award required by the ombudsman.', 'In the update on Friday, the FCA also said it had faced issues getting the necessary information from various companies to conduct its investigation. ""', 'Firms involved in our review have engaged with us constructively.', 'However, many firms are struggling to promptly provide the data we need,"" it said.', 'Claims for compensation can be made if you bought a motor vehicle on finance before 28 January 2021 and the finance provider and car dealer had a discretionary commission arrangement.', 'You can read guidance on motor finance complaints on the Financial Ombudsman site here, and guidance from the Financial Conduct Authority here.']",0.0361356399031953,"Some lenders had allowed dealers to adjust interest rates, which would improve the commission they received.","The potential cost of compensation has raised some comparisons to the amount paid out during the payment protection insurance (PPI) mis-selling scandal, which cost banks tens of billions of pounds.",-0.3158918420473735,"Some lenders had allowed dealers to adjust interest rates, which would improve the commission they received.","The potential cost of compensation has raised some comparisons to the amount paid out during the payment protection insurance (PPI) mis-selling scandal, which cost banks tens of billions of pounds.",2024-04-12 -It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion," - - 11:21 AM EST, Wed February 14, 2024 - ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point. - - Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower. - - This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it. - - With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon. - - To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story. - - Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added. - - Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion. - - But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so. - - If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible. - - But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply. - - When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel. - - However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer. - - To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order. - - Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer. - - Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment. - - With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax. - - Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer. - - Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back. - - Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access. - - Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year. - - Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon. - - Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points.,-0.0578339397907257,"Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.",But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.,2024-04-12 -Denver-Boulder area stakes a claim in space with a burgeoning aerospace industry,https://www.cnbc.com/2024/04/11/denver-boulder-area-benefits-from-burgeoning-aerospace-industry.html,2024-04-12T14:11:07+0000,"This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses.It might not be obvious to someone driving around Denver and Boulder that there are hundreds of companies actively working on some of America's most complex national security needs and building innovative products like those that might be seen in a sci-fi film.But the local industry's liftoff has been undeniable: Aerospace grew 88% over the past two decades, more than any other emerging industry in the Denver and Boulder metro areas during that time period, according to a CNBC analysis. Now, 191 aerospace businesses are supporting 29,000 jobs in the region, the Colorado Space Coalition reports.""When we were creating Voyager and thinking through the best growth markets where we could have access to talent ... Denver really rose to the top,"" Dylan Taylor, chairman and chief executive of Voyager Space, told CNBC's Morgan Brennan in an interview on CNBC's ""Manifest Space"" podcast. He founded the privately held multinational space conglomerate in 2019 in Denver.""I think talent coupled with alignment from the government were really important considerations, and then also if you look at other elements of Denver, whether it's access to capital, this is an emerging venture capital market, especially the Boulder corridor,"" he added.The region's corporate roster ranges from the biggest, oldest, prime contractors such as Lockheed Martin, Boeing and Northrop Grumman to the newest commercial space and defense tech startups such as Ursa Major and True Anomaly. United Launch Alliance, BAE Systems and RTX also have a presence in the area, as do private space stalwarts in addition to Voyager such as Sierra Space and Jeff Bezos' Blue Origin, which has been expanding its local footprint aggressively in recent years.Follow and listen to CNBC's ""Manifest Space"" podcast, hosted by Morgan Brennan, wherever you get your podcasts.""I think aerospace has become a fulcrum of our whole economy now,"" said U.S. Sen. John Hickenlooper, D-Colo., who previously served as Colorado's governor and before that as mayor of Denver.""It's a community that works together in terms of aerospace,"" said Hickenlooper, who is cited by local business executives as being a key space proponent for the region and the state. ""It's not dog eat dog. It's all dogs working together. It's hunting like wolves.""For Voyager, that's been true. The company has so far made seven acquisitions — the first two of which were local startups. ""We're circa 700 employees now and, you know, quite a bit of revenue, looking to enter in the public markets at some point,"" Taylor said.Its most high-profile project, Starlab, is an effort to replace the aging International Space Station. Voyager has teamed up with Airbus in a joint venture to build the commercial space station, with Mitsubishi recently announced as a strategic partner and equity owner. The space station is expected to launch to orbit on SpaceX's powerful Starship rocket system, which is under development.For Taylor, who has been to space himself after a trip on Blue Origin's New Shepard, the Denver-Boulder space story extends beyond Voyager too. He's spent years investing in the sector personally, as an early backer in more than 50 startups, including Orbit Fab.Backed by neighboring Lockheed Martin and Northrop Grumman, Orbit Fab moved into a roughly 60,000-square-foot manufacturing facility after relocating from California in 2021.""We started the company in Silicon Valley. We moved to Colorado mainly because of the workforce. There's a bigger aerospace workforce here,"" said Daniel Faber, Orbit Fab's CEO and founder.Since making the move, the company has grown from six to 60 employees, and is focused on building ""gas stations"" in space to refuel satellites. Historically, many satellites have been decommissioned not because their payloads or hardware no longer work, but because they have run out of power.""If you ran out of fuel on a highway, AAA can come and deliver you fuel. That's actually the typical way that we'll do it in space,"" Faber said. The startup recently revealed a refueling port — or gas cap — that's been flight qualified and is commercially available for $30,000 per unit.Like many companies in the area, Orbit Fab counts the U.S. military, specifically the Space Force, among its biggest customers. One thing that makes the broader Denver-Boulder region so unique is its robust military presence, including three separate U.S. Space Force bases, the U.S. Space Operations Command and the U.S. Air Force Academy in nearby Colorado Springs.""I think the location matters greatly,"" said Col. Heidi Dexter, commander of Space Base Delta 2 at Buckley Space Force Base in Aurora, Colorado. ""The partnership that we have with all of the local defense contractors and the startups allow us the opportunity to drive down the cost of space operations, as well as innovate very quickly so that it's crucial to national defense.""Colorado now boasts more private aerospace employees per capita than any other state, according to the Metro Denver Economic Development Corporation.""What an executive, a CEO for a rapidly growing company, wants to hear is that young people will be attracted,"" Hickenlooper said. ""Once you attract young people, eventually the entrepreneurs come, the businesses start.""",CNBC,12/04/2024,"[""This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", ""In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses."", ""It might not be obvious to someone driving around Denver and Boulder that there are hundreds of companies actively working on some of America's most complex national security needs and building innovative products like those that might be seen in a sci-fi film."", ""But the local industry's liftoff has been undeniable: Aerospace grew 88% over the past two decades, more than any other emerging industry in the Denver and Boulder metro areas during that time period, according to a CNBC analysis."", 'Now, 191 aerospace businesses are supporting 29,000 jobs in the region, the Colorado Space Coalition reports.', '""When we were creating Voyager and thinking through the best growth markets where we could have access to talent ... Denver really rose to the top,"" Dylan Taylor, chairman and chief executive of Voyager Space, told CNBC\'sMorgan Brennanin an interview onCNBC\'s ""Manifest Space"" podcast.', 'He founded the privately held multinational space conglomerate in 2019 in Denver.', '""I think talent coupled with alignment from the government were really important considerations, and then also if you look at other elements of Denver, whether it\'s access to capital, this is an emerging venture capital market, especially the Boulder corridor,"" he added.', ""The region's corporate roster ranges from the biggest, oldest, prime contractors such as Lockheed Martin, Boeing and Northrop Grumman to the newest commercial space and defense tech startups such as Ursa Major and True Anomaly."", ""United Launch Alliance, BAE Systems and RTX also have a presence in the area, as do private space stalwarts in addition to Voyager such as Sierra Space and Jeff Bezos' Blue Origin, which has been expanding its local footprint aggressively in recent years."", 'Follow and listen to CNBC\'s""Manifest Space"" podcast, hosted by Morgan Brennan, wherever you get your podcasts.', '""I think aerospace has become a fulcrum of our whole economy now,"" said U.S. Sen. John Hickenlooper, D-Colo., who previously served as Colorado\'s governor and before that as mayor of Denver.', '""It\'s a community that works together in terms of aerospace,"" said Hickenlooper, who is cited by local business executives as being a key space proponent for the region and the state. ""', ""It's not dog eat dog."", ""It's all dogs working together."", ""It's hunting like wolves."", '""For Voyager, that\'s been true.', 'The company has so far made seven acquisitions — the first two of which were local startups. ""', 'We\'re circa 700 employees now and, you know, quite a bit of revenue, looking to enter in the public markets at some point,"" Taylor said.', 'Its most high-profile project, Starlab, is an effort to replace the aging International Space Station.', 'Voyager has teamed up with Airbus in a joint venture to build the commercial space station, with Mitsubishi recently announced as a strategic partner and equity owner.', ""The space station is expected to launch to orbit on SpaceX's powerful Starship rocket system, which is under development."", ""For Taylor, who has been to space himself after a trip on Blue Origin's New Shepard, the Denver-Boulder space story extends beyond Voyager too."", ""He's spent years investing in the sector personally, as an early backer in more than 50 startups, including Orbit Fab."", 'Backed by neighboring Lockheed Martin and Northrop Grumman, Orbit Fab moved into a roughly 60,000-square-foot manufacturing facility after relocating from California in 2021.""We started the company in Silicon Valley.', 'We moved to Colorado mainly because of the workforce.', 'There\'s a bigger aerospace workforce here,"" said Daniel Faber, Orbit Fab\'s CEO and founder.', 'Since making the move, the company has grown from six to 60 employees, and is focused on building ""gas stations"" in space to refuel satellites.', 'Historically, many satellites have been decommissioned not because their payloads or hardware no longer work, but because they have run out of power.', '""If you ran out of fuel on a highway, AAA can come and deliver you fuel.', 'That\'s actually the typical way that we\'ll do it in space,"" Faber said.', ""The startup recently revealed a refueling port — or gas cap — that's been flight qualified and is commercially available for $30,000 per unit."", 'Like many companies in the area, Orbit Fab counts the U.S. military, specifically the Space Force, among its biggest customers.', 'One thing that makes the broader Denver-Boulder region so unique is its robust military presence, including three separate U.S. Space Force bases, the U.S. Space Operations Command and the U.S. Air Force Academy in nearby Colorado Springs.', '""I think the location matters greatly,"" said Col.', 'Heidi Dexter, commander of Space Base Delta 2 at Buckley Space Force Base in Aurora, Colorado. ""', ""The partnership that we have with all of the local defense contractors and the startups allow us the opportunity to drive down the cost of space operations, as well as innovate very quickly so that it's crucial to national defense."", '""Colorado now boasts more private aerospace employees per capita than any other state, according to the Metro Denver Economic Development Corporation.', '""What an executive, a CEO for a rapidly growing company, wants to hear is that young people will be attracted,"" Hickenlooper said. ""', 'Once you attract young people, eventually the entrepreneurs come, the businesses start.""']",0.2409383385711866,"""When we were creating Voyager and thinking through the best growth markets where we could have access to talent ... Denver really rose to the top,"" Dylan Taylor, chairman and chief executive of Voyager Space, told CNBC'sMorgan Brennanin an interview onCNBC's ""Manifest Space"" podcast.","In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses.",0.967477884557512,"But the local industry's liftoff has been undeniable: Aerospace grew 88% over the past two decades, more than any other emerging industry in the Denver and Boulder metro areas during that time period, according to a CNBC analysis.",,2024-04-12 -JPMorgan Chase shares drop after bank gives disappointing guidance on 2024 interest income,https://www.cnbc.com/2024/04/12/jpmorgan-chase-jpm-earnings-q1-2024.html,2024-04-12T17:13:40+0000,"In this articleJPMorgan Chase on Friday posted profit and revenue that topped Wall Street estimates as credit costs and trading revenue came in better than expected.Here's what the company reported compared with estimates from analysts surveyed by LSEG, formerly known as Refinitiv:The bank said first-quarter profit rose 6% to $13.42 billion, or $4.44 per share, from a year earlier, boosted by its takeover of First Republic during the regional banking crisis last year. Per-share earnings would've been 19 cents higher excluding a $725 million boost to an FDIC fee covering costs from last year's bank failures.Revenue climbed 8% to $42.55 billion as the bank generated more interest income thanks to higher rates and larger loan balances.But in guidance for 2024, the bank said it expected net interest income of around $90 billion, which is essentially unchanged from previous wording.That appeared to disappoint investors, some of whom expected JPMorgan to raise its guidance by $2 billion to $3 billion for the year. Shares of JPM fell more than 5%.While the NII guidance ""strikes us as ultra-conservative (and now leaves room to be revised upward later on), we suspect the unchanged outlook will disappoint investors,"" Piper Sandler analyst Scott Siefers said Friday in a note.JPMorgan posted a $1.88 billion provision for credit losses in the quarter, far below the $2.7 billion expected by analysts. The provision was 17% smaller than a year ago, as the firm released some reserves for loan losses, rather than building them as it did a year earlier.While trading revenue overall was down 5% from a year earlier, fixed income and equities results topped analysts' expectations by more than $100 million each, coming in at $5.3 billion and $2.7 billion, respectively.JPMorgan CEO Jamie Dimon called his company's results ""strong"" across consumer and institutional areas, helped by a still-buoyant U.S. economy, though he struck a note of caution about the future.""Many economic indicators continue to be favorable,"" Dimon said. ""However, looking ahead, we remain alert to a number of significant uncertain forces"" including overseas conflict and inflationary pressures.Though the biggest U.S. bank by assets has navigated the rate environment well since the Federal Reserve began raising rates two years ago, smaller peers have seen their profits squeezed.The industry has been forced to pay up for deposits as customers shift cash into higher-yielding instruments, squeezing margins. Concern is also mounting over rising losses from commercial loans, especially on office buildings and multifamily dwellings, and higher defaults on credit cards.When asked about commercial real estate during a media call Friday, CFO Jeremy Barnum said that while JPM built its reserves last year for the asset class, he saw no signs of improvement.""Especially in office, the story is well known, and as far as we can see, it's not getting better,"" Barnum said. ""There's  no light at the end of the tunnel there from what we can see.""Large banks are expected to outperform smaller ones, which tend to have larger exposures to commercial real estate, this quarter.Shares of JPMorgan have jumped 15% this year through Thursday, outperforming the 3.9% gain of the KBW Bank Index.Wells Fargo and Citigroup also report quarterly results Friday, while Goldman Sachs, Bank of America and Morgan Stanley report next week.",CNBC,12/04/2024,"['In this articleJPMorgan Chase on Friday posted profit and revenue that topped Wall Street estimates as credit costs and trading revenue came in better than expected.', ""Here's what the company reported compared with estimates from analysts surveyed by LSEG, formerly known as Refinitiv:The bank said first-quarter profit rose 6% to $13.42 billion, or $4.44 per share, from a year earlier, boosted by its takeover of First Republic during the regional banking crisis last year."", ""Per-share earnings would've been 19 cents higher excluding a $725 million boost to an FDIC fee covering costs from last year's bank failures."", 'Revenue climbed 8% to $42.55 billion as the bank generated more interest income thanks to higher rates and larger loan balances.', 'But in guidance for 2024, the bank said it expected net interest income of around $90 billion, which is essentially unchanged from previous wording.', 'That appeared to disappoint investors, some of whom expected JPMorgan to raise its guidance by $2 billion to $3 billion for the year.', 'Shares of JPM fell more than 5%.While the NII guidance ""strikes us as ultra-conservative (and now leaves room to be revised upward later on), we suspect the unchanged outlook will disappoint investors,"" Piper Sandler analyst Scott Siefers said Friday in a note.', 'JPMorgan posted a $1.88 billion provision for credit losses in the quarter, far below the $2.7 billion expected by analysts.', 'The provision was 17% smaller than a year ago, as the firm released some reserves for loan losses, rather than building them as it did a year earlier.', ""While trading revenue overall was down 5% from a year earlier, fixed income and equities results topped analysts' expectations by more than $100 million each, coming in at $5.3 billion and $2.7 billion, respectively."", 'JPMorgan CEO Jamie Dimon called his company\'s results ""strong"" across consumer and institutional areas, helped by a still-buoyant U.S. economy, though he struck a note of caution about the future.', '""Many economic indicators continue to be favorable,"" Dimon said. ""', 'However, looking ahead, we remain alert to a number of significant uncertain forces"" including overseas conflict and inflationary pressures.', 'Though the biggest U.S. bank by assets has navigated the rate environment well since the Federal Reserve began raising rates two years ago, smaller peers have seen their profits squeezed.', 'The industry has been forced to pay up for deposits as customers shift cash into higher-yielding instruments, squeezing margins.', 'Concern is also mounting over rising losses from commercial loans, especially on office buildings and multifamily dwellings, and higher defaults on credit cards.', 'When asked about commercial real estate during a media call Friday, CFO Jeremy Barnum said that while JPM built its reserves last year for the asset class, he saw no signs of improvement.', '""Especially in office, the story is well known, and as far as we can see, it\'s not getting better,"" Barnum said. ""', ""There's no light at the end of the tunnel there from what we can see."", '""Large banks are expected to outperform smaller ones, which tend to have larger exposures to commercial real estate, this quarter.', 'Shares of JPMorgan have jumped 15% this year through Thursday, outperforming the 3.9% gain of the KBW Bank Index.', 'Wells Fargo and Citigroup also report quarterly results Friday, while Goldman Sachs, Bank of America and Morgan Stanley report next week.']",0.1570443454946614,In this articleJPMorgan Chase on Friday posted profit and revenue that topped Wall Street estimates as credit costs and trading revenue came in better than expected.,"Shares of JPM fell more than 5%.While the NII guidance ""strikes us as ultra-conservative (and now leaves room to be revised upward later on), we suspect the unchanged outlook will disappoint investors,"" Piper Sandler analyst Scott Siefers said Friday in a note.",0.0476763436668797,Revenue climbed 8% to $42.55 billion as the bank generated more interest income thanks to higher rates and larger loan balances.,"Shares of JPM fell more than 5%.While the NII guidance ""strikes us as ultra-conservative (and now leaves room to be revised upward later on), we suspect the unchanged outlook will disappoint investors,"" Piper Sandler analyst Scott Siefers said Friday in a note.",2024-04-12 -"The rich are getting second passports, citing risk of instability",https://www.cnbc.com/2024/04/10/rich-americans-get-second-passports-citing-risk-of-instability.html,2024-04-10T12:44:24+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.The wealthy are building these ""passport portfolios"" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country. Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.""The U.S. is still a great country, it's still an amazing passport,"" said Dominic Volek, group head of private clients at Henley & Partners. ""But if I'm wealthy, I would like to hedge against levels of volatility and uncertainty. The idea of diversification is well understood by wealthy individuals around what they invest. It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.""Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.Of course, the wealthy aren't packing up en masse and ditching their American citizenship. While a relatively small number of Americans do renounce their citizenship every year to declare a new home country, mainly due to tax-filing requirements, the so-called ""exit tax"" required to renounce citizenship makes it financially prohibitive for most except the ultra-wealthy to simply renounce and declare a new citizenship.Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport.According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy. Portugal's ""Golden Visa"" program is especially popular since it provides a path to residency and citizenship — with visa-free travel in Europe — in exchange for an investment of 500,000 euros (roughly $541,000) in a fund or private equity. Malta offers a Golden Visa for 300,000 euros invested in real estate, which Volek said has become ""especially popular with Americans.""""With Malta you become a European citizen, with complete settlement rights across Europe,"" he said. ""So you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.""There are three main reasons for the rise of American passport portfolios, or ""domicile diversification."" An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""With rising global instability, holding citizenship in another country, particularly one that is considered more neutral or politically benign, now provides a valuable back-up or alternative option.""Another reason is business travel, which can be safer and less conspicuous with a non-U.S. passport in many countries. U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.Using a secondary passport can also help cross-border financial transfers or deals within the new country.Finally, some wealthy Americans simply want a back-up residency for possible retirement, to be closer to their families who live abroad or for lifestyle reasons in the new age of remote work. For others, U.S. politics is the driver.  ""We all live in uncertain times, not just in the U.S., but in all nations globally,"" Volek said. ""Who knows what's going to happen next. It's really about having not only a Plan B but Plan C and D in place as well.""Globally, millionaire migration is expected to hit a new high in 2024, as wars, government crackdowns on wealth, and political uncertainty drive more wealthy residents to other countries. An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.The U.S. remains a top destination for global millionaires leaving other countries, with a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to Henley.China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.""The wealth-creation opportunities in the U.S. are second to none globally,"" Volek said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,10/04/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.', 'The wealthy are building these ""passport portfolios"" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country.', 'Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.', '""The U.S. is still a great country, it\'s still an amazing passport,"" said Dominic Volek, group head of private clients at Henley & Partners. ""', ""But if I'm wealthy, I would like to hedge against levels of volatility and uncertainty."", 'The idea of diversification is well understood by wealthy individuals around what they invest.', 'It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.', '""Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.', ""Of course, the wealthy aren't packing up en masse and ditching their American citizenship."", 'While a relatively small number of Americans do renounce their citizenship every year to declare a new home country, mainly due to tax-filing requirements, the so-called ""exit tax"" required to renounce citizenship makes it financially prohibitive for most except the ultra-wealthy to simply renounce and declare a new citizenship.', 'Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport.', 'According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy.', 'Portugal\'s ""Golden Visa"" program is especially popular since it provides a path to residency and citizenship — with visa-free travel in Europe — in exchange for an investment of 500,000 euros (roughly $541,000) in a fund or private equity.', 'Malta offers a Golden Visa for 300,000 euros invested in real estate, which Volek said has become ""especially popular with Americans.', '""""With Malta you become a European citizen, with complete settlement rights across Europe,"" he said. ""', 'So you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.', '""There are three main reasons for the rise of American passport portfolios, or ""domicile diversification.""', 'An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""', 'With rising global instability, holding citizenship in another country, particularly one that is considered more neutral or politically benign, now provides a valuable back-up or alternative option.', '""Another reason is business travel, which can be safer and less conspicuous with a non-U.S. passport in many countries.', 'U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.', 'Using a secondary passport can also help cross-border financial transfers or deals within the new country.', 'Finally, some wealthy Americans simply want a back-up residency for possible retirement, to be closer to their families who live abroad or for lifestyle reasons in the new age of remote work.', 'For others, U.S. politics is the driver. ""', 'We all live in uncertain times, not just in the U.S., but in all nations globally,"" Volek said. ""', ""Who knows what's going to happen next."", ""It's really about having not only a Plan B but Plan C and D in place as well."", '""Globally, millionaire migration is expected to hit a new high in 2024, as wars, government crackdowns on wealth, and political uncertainty drive more wealthy residents to other countries.', 'An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.', 'The U.S. remains a top destination for global millionaires leaving other countries, with a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to Henley.', 'China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.', '""The wealth-creation opportunities in the U.S. are second to none globally,"" Volek said.', ""Sign up to receive future editions of CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.2671963679040812,"An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""","U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.",0.6473015944163004,"An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.","China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.",2024-04-12 -GM's Cruise to relaunch vehicles with human drivers in Phoenix,https://www.cnbc.com/2024/04/09/gms-cruise-to-relaunch-vehicles-with-human-drivers-in-phoenix.html,2024-04-09T17:38:49+0000,"In this articleGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways Tuesday for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said.The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.The redeployed vehicles will not operate as they previously did — as robotaxis — but will ""create maps and gather road information in select cities, starting in Phoenix,"" the company said.Cruise said its ""goal is to resume driverless operations,"" however it did not provide a timeline for doing so. It also did not announce a timetable for expanding human-driven vehicles to other cities.""We have not yet made a commitment to where or when we will start supervised or driverless operations,"" a spokesperson said in a statement to CNBC.Still, the company called the relaunched fleet with human drivers ""a critical step for validating our self-driving systems as we work towards returning to our driverless mission.""""In October 2023, we paused operations of our fleet to focus on rebuilding trust with regulators and the communities we serve, and to redesign our approach to safety,"" Cruise said in a blog post. ""We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate. We are committed to this improvement as a continuous effort.""A third-party probe into the October incident and subsequent fallout, which was ordered by GM and Cruise, found culture issues, ineptitude and poor leadership were at the center of regulatory oversights that led to the accident. The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims.Cruise said in January that it ""accepts"" the conclusions found in the report. The San Francisco-based company, of which GM owns about 80%, said it will ""act on all"" recommendations and is ""fully cooperating"" with investigations by state and federal agencies following the Oct. 2 accident.The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market where the majority of its vehicles operated.In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted. The venture also laid off 24% of its workforce as well as a round of contractors.",CNBC,09/04/2024,"[""In this articleGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways Tuesday for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said."", 'The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.', 'The redeployed vehicles will not operate as they previously did — as robotaxis — but will ""create maps and gather road information in select cities, starting in Phoenix,"" the company said.', 'Cruise said its ""goal is to resume driverless operations,"" however it did not provide a timeline for doing so.', 'It also did not announce a timetable for expanding human-driven vehicles to other cities.', '""We have not yet made a commitment to where or when we will start supervised or driverless operations,"" a spokesperson said in a statement to CNBC.Still, the company called the relaunched fleet with human drivers ""a critical step for validating our self-driving systems as we work towards returning to our driverless mission.', '""""In October 2023, we paused operations of our fleet to focus on rebuilding trust with regulators and the communities we serve, and to redesign our approach to safety,"" Cruise said in a blog post. ""', ""We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate."", 'We are committed to this improvement as a continuous effort.', '""A third-party probe into the October incident and subsequent fallout, which was ordered by GM and Cruise, found culture issues, ineptitude and poor leadership were at the center of regulatory oversightsthat led to the accident.', 'The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims.', 'Cruise said in January that it ""accepts"" the conclusions found in the report.', 'The San Francisco-based company,of which GM owns about 80%, said it will ""act on all"" recommendations and is ""fully cooperating"" with investigations by state and federal agencies following the Oct. 2 accident.', 'The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.', 'Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market where the majority of its vehicles operated.', 'In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted.', 'The venture alsolaid off 24% of its workforce as well as a round of contractors.']",0.1384270886543398,"The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.",The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.,0.1824014902114868,"We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate.","In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted.",2024-04-12 -Why car insurance costs are skyrocketing and leading to higher inflation,https://www.cnbc.com/2024/04/11/why-car-insurance-costs-are-skyrocketing-leading-to-higher-inflation.html,2024-04-11T19:21:02+0000,"DETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners.On a monthly basis, car insurance prices as part of the consumer price index rose by an unadjusted 2.7%, while the year-over-year increased by 22.2%, according to data released Wednesday. The index is a key inflation gauge and a broad measure of the cost of goods and services across the economy.Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. Since then, costs have increased by 45.8%, according to U.S. Bureau of Labor Statistics. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting.The uptick comes on top of historically high prices for new and used vehicles since the coronavirus pandemic. It's also become increasingly more expensive to repair vehicles due to supply chain shortages, mechanic wage increases and additional technologies in vehicles such as microprocessors, cameras and other sensors — all of which contribute to higher vehicle and insurance costs.""There's not a single factor, but I think the biggest factor is a combination of new cars and more expensive, so if you total your car the replacement cost is really high and a fender bender is very expensive right now,"" said Sean Tucker, senior editor at vehicle valuation and automotive research company Kelley Blue Book. ""The technology in the cars, it's a very specific problem.""Instead of having to replace a plastic or steel bumper on many vehicles, a simple fender bender can now damage cameras, proximity sensors and varying other technologies used for newer safety features and tools such as cruise control, parking and emergency braking.""Premiums have been on the rise because the cost of what goes into auto insurance has been rising,"" David Sampson, CEO and president of the American Property Casualty Insurance Association, told CNBC. ""There's a long lag time between when the trends emerge and companies see these loss trends existing. It then takes time for them to build that into their rate application filings.""Earlier this year, Sampson himself had slight damage to a bumper on a 2024 pickup truck on his property that he says was quoted to cost him $1,800 to repair or replace.""All of the technology that we've come to rely on makes makes the replacement or repair of these vehicles really, really, costly,"" said Sampson, whose organization is the primary national trade association for home, auto and business insurers.The insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022.Mitchell, an automotive software provider specializing in collision repair and auto insurance sectors, said repair costs were increasing at an annual rate of about 3.5% to 5% prior to the coronavirus pandemic. As of 2022, the increases have been at 10% or above, with the average repairable estimate for a vehicle at $4,721 in 2023.Consumers and companies alike aren't happy with the increases. J.D. Power in June reported auto insurers lost an average of 12 cents on every dollar of premium they collected in 2022 — the worst performance in more than 20 years — leading them to raise rates at the expense of customer satisfaction.""What I always remind folks is that insurance is based on actuarial science, so it's not a case of insurers just deciding that they want to increase premiums,"" Sampson said. ""The filings have to be based on actuarial loss trends in their rate applications in each state.""The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location. Nearly all states have minimum requirements for liability coverage, but there are a number of other coverages that may or may not be required in a specific state, according to insurance provider Progressive.The list of optional and mandatory coverage areas can be quite long and expensive for drivers, which has led many insurance companies to offer usage-based insurance, or UBI, programs that base the cost of a policy on a driver's behaviors using telematics data.Customers who are new to an insurer have a UBI participation rate of 26%, according to the J.D. Power's U.S. Auto Insurance Study from June.The study, in its 24th year, found UBI usage more than doubled from 2016 to 2023, with 17% of auto insurance customers participating in such programs. Price satisfaction among customers participating in these programs is 59 points higher on average than among non-participants, according to J.D. Power.Usage in such programs is only expected to increase as costs rise and insurers offer discounts or special prices for safer drivers, according to insurance companies.Based on J.D. Power's survey, UBI programs from Geico, Progressive, State Farm and Liberty Mutual were ranked above average by customers. USAA, which services all branches of the military and their families, ranked the highest.J.D. Power's study also found the cost increases have led to a more than 20-year low in customer satisfaction with auto insurance companies.""Overall customer satisfaction with auto insurers has plummeted this year, as insurers and drivers come face to face with the realities of the economy,"" Mark Garrett, director of insurance intelligence at J.D. Power, said in a June release.— CNBC's Robert Ferris and Jeff Cox contributed to this article.",CNBC,11/04/2024,"['DETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners.', 'On a monthly basis, car insurance prices as part of the consumer price index rose by an unadjusted 2.7%, while the year-over-year increased by 22.2%, according to data released Wednesday.', 'The index is a key inflation gauge and a broad measure of the cost of goods and services across the economy.', 'Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021.', 'Since then, costs have increased by 45.8%, according to U.S. Bureau of Labor Statistics.', 'However, auto insurance remains a small portion of the CPI, with a 2.85% weighting.', 'The uptick comes on top of historically high prices for new and used vehicles since the coronavirus pandemic.', ""It's also become increasingly more expensive to repair vehicles due to supply chain shortages, mechanic wage increases and additional technologies in vehicles such as microprocessors, cameras and other sensors — all of which contribute to higher vehicle and insurance costs."", '""There\'s not a single factor, but I think the biggest factor is a combination of new cars and more expensive, so if you total your car the replacement cost is really high and a fender bender is very expensive right now,"" said Sean Tucker, senior editor at vehicle valuation and automotive research company Kelley Blue Book. ""', ""The technology in the cars, it's a very specific problem."", '""Instead of having to replace a plastic or steel bumper on many vehicles, a simple fender bender can now damage cameras, proximity sensors and varying other technologies used for newer safety features and tools such as cruise control, parking and emergency braking.', '""Premiums have been on the rise because the cost of what goes into auto insurance has been rising,"" David Sampson, CEO and president of the American Property CasualtyInsurance Association, told CNBC. ""', ""There's a long lag time between when the trends emerge and companies see these loss trends existing."", 'It then takes time for them to build that into their rate application filings.', '""Earlier this year, Sampson himself had slight damage to a bumper on a 2024 pickup truck on his property that he says was quoted to cost him $1,800 to repair or replace.', '""All of the technology that we\'ve come to rely on makes makes the replacement or repair of these vehicles really, really, costly,"" said Sampson, whose organization is the primary national trade association for home, auto and business insurers.', 'The insurance cost increases on inflation come more than two years after the Biden administration largelyblamed used car pricesfor pushing inflation higher in January 2022.Mitchell, an automotive software provider specializing in collision repair and auto insurance sectors, said repair costs were increasing at an annual rate of about 3.5% to 5% prior to the coronavirus pandemic.', ""As of 2022, the increases have been at 10% or above, with the average repairable estimate for a vehicle at $4,721 in 2023.Consumers and companies alike aren't happy with the increases."", 'J.D. Power in June reported auto insurers lost an average of 12 cents on every dollar of premium they collected in 2022 — the worst performance in more than 20 years — leading them to raise rates at the expense of customer satisfaction.', '""What I always remind folks is that insurance is based on actuarial science, so it\'s not a case of insurers just deciding that they want to increase premiums,"" Sampson said. ""', 'The filings have to be based on actuarial loss trends in their rate applications in each state.', '""The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.', 'Nearly all states have minimum requirements for liability coverage, but there are a number of other coverages that may or may not be required in a specific state, according to insurance provider Progressive.', ""The list of optional and mandatory coverage areas can be quite long and expensive for drivers, which has led many insurance companies to offer usage-based insurance, or UBI, programs that base the cost of a policy on a driver's behaviors using telematics data."", ""Customers who are new to an insurer have a UBI participation rate of 26%, according to the J.D. Power's U.S. Auto Insurance Study from June."", 'The study, in its 24th year, found UBI usage more than doubled from 2016 to 2023, with 17% of auto insurance customers participating in such programs.', 'Price satisfaction among customers participating in these programs is 59 points higher on average than among non-participants, according to J.D. Power.', 'Usage in such programs is only expected to increase as costs rise and insurers offer discounts or special prices for safer drivers, according to insurance companies.', ""Based on J.D. Power's survey, UBI programs from Geico, Progressive, State Farm and Liberty Mutual were ranked above average by customers."", 'USAA, which services all branches of the military and their families, ranked the highest.', ""J.D. Power's study also found the cost increases have led to a more than 20-year low in customer satisfaction with auto insurance companies."", '""Overall customer satisfaction with auto insurers has plummeted this year, as insurers and drivers come face to face with the realities of the economy,"" Mark Garrett, director of insurance intelligence at J.D. Power, said in a June release.—', ""CNBC's Robert Ferris and Jeff Cox contributed to this article.""]",0.0375489671697234,"Usage in such programs is only expected to increase as costs rise and insurers offer discounts or special prices for safer drivers, according to insurance companies.",There's a long lag time between when the trends emerge and companies see these loss trends existing.,-0.4125405769599111,"On a monthly basis, car insurance prices as part of the consumer price index rose by an unadjusted 2.7%, while the year-over-year increased by 22.2%, according to data released Wednesday.","""Overall customer satisfaction with auto insurers has plummeted this year, as insurers and drivers come face to face with the realities of the economy,"" Mark Garrett, director of insurance intelligence at J.D. Power, said in a June release.—",2024-04-12 -"EU probe of weight loss and diabetes drugs like Wegovy, Ozempic finds no link to suicidal thoughts",https://www.cnbc.com/2024/04/12/weight-loss-diabetes-drugs-not-linked-to-suicidal-thoughts-eu-probe.html,2024-04-12T16:00:50+0000,"In this articleEuropean Union drug regulators found no evidence that highly popular weight loss and diabetes drugs such as Wegovy and Ozempic are linked to an increased risk of suicidal thoughts and self-injury, the regulator said Friday. The European Medicines Agency conducted a nine-month investigation into so-called GLP-1s, a blockbuster class of treatments that mimic a hormone produced in the gut to suppress a person's appetite. Those drugs have skyrocketed in demand over the last year despite their hefty price tags and spotty insurance coverage.The review examined several drugs from Novo Nordisk, including Wegovy and Ozempic. It did not include Eli Lilly's Zepbound and Mounjaro, two versions of the same drug sold for weight loss and diabetes. But the probe did include the active ingredient in an older diabetes treatment from Eli Lilly called Trulicity. In a statement to CNBC, Novo Nordisk confirmed the findings of the EMA's investigation and said it will continue to monitor reports of adverse reactions to its GLP-1s, including suicide and suicidal ideation. The agency's verdict is the latest in a series of reassuring reports on suicide risk for GLP-1s. The U.S. Food and Drug Administration came to a similar conclusion in January but said agency officials couldn't definitively rule out that a ""small risk may exist."" Clinical trials from Novo Nordisk and Eli Lilly have not demonstrated a link between GLP-1s and suicidal thoughts. Still, researchers and doctors have been on the lookout for any new unwanted side effects or added risks as thousands of new patients start taking the drugs. The EMA first launched its investigation in July after the Icelandic Medicines Agency flagged three cases of suicidal thoughts and self-injury in patients taking drugs containing liraglutide and semaglutide, the active ingredients in the popular treatments.Semaglutide is the active ingredient used in Wegovy, Ozempic and Novo Nordisk's diabetes pill Rybelsus. Liraglutide is the active ingredient in Novo Nordisk's older weight loss drug Saxenda. The probe also included other active ingredients in older weight loss and diabetes drugs, including dulaglutide, exenatide and lixisenatide. The EMA on Friday said it analyzed results from a large U.S. study and did not find a direct association between the use of semaglutide and suicidal thoughts. Results from another study conducted by the agency also did not support a link between GLP-1 drugs and the risk of suicidal thoughts. Both the studies were based on electronic health records.If you are having suicidal thoughts or are in distress, contact the Suicide & Crisis Lifeline at 988 in the U.S. or the Samaritans in the U.K. at 116 123 for support and assistance from a trained counselor.",CNBC,12/04/2024,"['In this articleEuropean Union drug regulators found no evidence that highly popular weight loss and diabetes drugs such as Wegovy and Ozempic are linked to an increased risk of suicidal thoughts and self-injury, the regulator said Friday.', ""The European Medicines Agency conducted a nine-month investigation into so-called GLP-1s, a blockbuster class of treatments that mimic a hormone produced in the gut to suppress a person's appetite."", 'Those drugs have skyrocketed in demand over the last year despite their hefty price tags and spotty insurance coverage.', 'The review examined several drugs from Novo Nordisk, including Wegovy and Ozempic.', ""It did not include Eli Lilly's Zepbound and Mounjaro, two versions of the same drug sold for weight loss and diabetes."", 'But the probe did include the active ingredient in an older diabetes treatment from Eli Lilly called Trulicity.', ""In a statement to CNBC, Novo Nordisk confirmed the findings of the EMA's investigation and said it will continue to monitor reports of adverse reactions to its GLP-1s, including suicide and suicidal ideation."", ""The agency's verdict is the latest in a series of reassuring reports on suicide risk for GLP-1s."", 'The U.S. Food and Drug Administration came to a similar conclusion in January but said agency officials couldn\'t definitively rule out that a ""small risk may exist.', '""Clinical trials from Novo Nordisk and Eli Lilly have not demonstrated a link between GLP-1s and suicidal thoughts.', 'Still, researchers and doctors have been on the lookout for any new unwanted side effects or added risks as thousands of new patients start taking the drugs.', 'The EMA first launched its investigation in July after the Icelandic Medicines Agency flagged three cases of suicidal thoughts and self-injury in patients taking drugs containing liraglutide and semaglutide, the active ingredients in the popular treatments.', ""Semaglutide is the active ingredient used in Wegovy, Ozempic and Novo Nordisk's diabetes pill Rybelsus."", ""Liraglutide is the active ingredient in Novo Nordisk's older weight loss drug Saxenda."", 'The probe also included other active ingredients in older weight loss and diabetes drugs, including dulaglutide, exenatide and lixisenatide.', 'The EMA on Friday said it analyzed results from a large U.S. study and did not find a direct association between the use of semaglutide and suicidal thoughts.', 'Results from another study conducted by the agency also did not support a link between GLP-1 drugs and the risk of suicidal thoughts.', 'Both the studies were based on electronic health records.', 'If you are having suicidal thoughts or are in distress, contact the Suicide & Crisis Lifeline at 988 in the U.S. or theSamaritansin the U.K. at 116 123 for support and assistance from a trained counselor.']",-0.2755018867305918,"The European Medicines Agency conducted a nine-month investigation into so-called GLP-1s, a blockbuster class of treatments that mimic a hormone produced in the gut to suppress a person's appetite.","If you are having suicidal thoughts or are in distress, contact the Suicide & Crisis Lifeline at 988 in the U.S. or theSamaritansin the U.K. at 116 123 for support and assistance from a trained counselor.",0.1237466633319854,Those drugs have skyrocketed in demand over the last year despite their hefty price tags and spotty insurance coverage.,"The EMA first launched its investigation in July after the Icelandic Medicines Agency flagged three cases of suicidal thoughts and self-injury in patients taking drugs containing liraglutide and semaglutide, the active ingredients in the popular treatments.",2024-04-12 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-04-12 -Minneapolis gives Uber and Lyft a reason to stick around — at least until July,https://edition.cnn.com/2024/04/11/business/uber-lyft-minneapolis-date-change/index.html," - Updated - 12:56 PM EDT, Thu April 11, 2024 - ","Lyft and Uber have reversed plans to leave Minneapolis on May 1 after a new minimum wage for rideshare drivers, originally set to go into effect that day, was delayed two months after the city council passed a measure Thursday to extend the deadline. - - The issue stems from a March decision by the city council to override the mayor’s veto of a minimum wage for rideshare drivers, set at the local rate of $15.57 an hour. That prompted Uber and Lyft to announce they’re ending operations in the city. - - Minneapolis City Council unanimously passed an extension at this morning’s meeting to push the effective date to July 1, allowing time for lawmakers to hammer out a compromise in the minimum wage law and give more time for new ride-hailing services to start. - - Uber said in a statement Thursday that the council’s action “paves the way for all stakeholders to work with [Minnesota] leaders on a statewide solution that raises pay at the state level, protects flexibility and keeps rides affordable.” It will operate in the state until at least July 1. - - Lyft, which also confirmed it will continue operating until July 1, said in a statement Thursday that it was “encouraged the Council is recognizing the flaws in their incredibly damaging ordinance.” - - Mayor Jacob Frey, a Democrat, said he supported a minimum wage for rideshare drivers but opposed the ordinance because it didn’t factor in a Minnesota state study that analyzed how much drivers should be paid. - - The ordinance mandates rideshare drivers make at least $1.40 per mile and $0.51 per minute within Minneapolis. However, the analysis Frey referred to showed lower numbers — $0.89 per mile and $0.49 per minute. - - Now some council members want to amend the ordinance and lower the per-mile rate to $1.21, but maintain the proposed per-minute rate of $0.51. - - “Leadership in decision-making entails gathering information, consulting stakeholders, and making informed choices, while also embracing uncertainty and adapting to new information,” the statement from the council members said, according to CNN affiliate KARE-TV. - - “Our goals have and continue to be to ensure fair wages for drivers, stability for drivers and riders, and a healthy, competitive market. With this amendment, we can accomplish those goals.” - - The statement was released by Council President Elliott Payne and Council Members Katie Cashman and Aurin Chowdhury. - - This story has been updated with the latest details.",CNN,11/04/2024,"['Lyft and Uber have reversed plans to leave Minneapolis on May 1 after a new minimum wage for rideshare drivers, originally set to go into effect that day, was delayed two months after the city council passed a measure Thursday to extend the deadline.', 'The issue stems from a March decision by the city council to override the mayor’s veto of aminimum wagefor rideshare drivers, set at the local rate of $15.57 an hour.', 'That prompted Uber and Lyft to announce they’re ending operations in the city.', 'Minneapolis City Council unanimously passed an extension at this morning’s meeting to push the effective date to July 1, allowing time for lawmakers to hammer out a compromise in the minimum wage law and give more time for new ride-hailing services to start.', 'Uber said in a statement Thursday that the council’s action “paves the way for all stakeholders to work with [Minnesota] leaders on a statewide solution that raises pay at the state level, protects flexibility and keeps rides affordable.”', 'It will operate in the state until at least July 1.', 'Lyft, which also confirmed it will continue operating until July 1, said in a statement Thursday that it was “encouraged the Council is recognizing the flaws in their incredibly damaging ordinance.”', 'Mayor Jacob Frey, a Democrat, said he supported a minimum wage for rideshare drivers but opposed the ordinance because it didn’t factor in a Minnesota state study that analyzed how much drivers should be paid.', 'Theordinancemandates rideshare drivers make at least $1.40 per mile and $0.51 per minute within Minneapolis.', 'However, theanalysisFrey referred to showed lower numbers — $0.89 per mile and $0.49 per minute.', 'Now some council members want to amend the ordinance and lower the per-mile rate to $1.21, but maintain the proposed per-minute rate of $0.51.', '“Leadership in decision-making entails gathering information, consulting stakeholders, and making informed choices, while also embracing uncertainty and adapting to new information,” the statement from the council members said, according to CNN affiliate KARE-TV.', '“Our goals have and continue to be to ensure fair wages for drivers, stability for drivers and riders, and a healthy, competitive market.', 'With this amendment, we can accomplish those goals.”', 'The statement was released by Council President Elliott Payne and Council Members Katie Cashman and Aurin Chowdhury.', 'This story has been updated with the latest details.']",0.0891374273855298,"“Our goals have and continue to be to ensure fair wages for drivers, stability for drivers and riders, and a healthy, competitive market.","“Leadership in decision-making entails gathering information, consulting stakeholders, and making informed choices, while also embracing uncertainty and adapting to new information,” the statement from the council members said, according to CNN affiliate KARE-TV.",0.4121132237570626,"Uber said in a statement Thursday that the council’s action “paves the way for all stakeholders to work with [Minnesota] leaders on a statewide solution that raises pay at the state level, protects flexibility and keeps rides affordable.”","However, theanalysisFrey referred to showed lower numbers — $0.89 per mile and $0.49 per minute.",2024-04-12 -Biden urged to ban China-made electric vehicles from the US,https://www.bbc.co.uk/news/articles/cyerg64dn97o,2024-04-12T03:51:41.337Z,"President Joe Biden has been urged to ban imports of Chinese-made electric cars to the US. The chair of the Senate Banking Committee, Senator Sherrod Brown, wrote ""Chinese electric vehicles are an existential threat to the American auto industry"". His comments are the strongest yet by any US lawmaker on the issue, while others have called for steep tariffs to keep Chinese electric vehicles (EV) out of the country. In February, the White House said the US was opening an investigation into whether Chinese cars pose a national security risk. ""We cannot allow China to bring its government-backed cheating to the American auto industry"", Senator Brown said in a video on the social media platform X, formerly Twitter. Senator Brown, who is a Democrat from the the car-producing state of Ohio, is seeking to win a fourth term in office in November's election. The White House did not immediately respond to a BBC request for comment. In February, President Biden said that China's policies ""could flood our market with its vehicles, posing risks to our national security"" and that he would ""not let that happen on my watch."" Washington could impose restrictions over concerns that the technology in Chinese-made cars could ""collect large amounts of sensitive data on their drivers and passengers"", the White House said. It warned cars that are connected to the internet ""regularly use their cameras and sensors to record detailed information on US infrastructure; interact directly with critical infrastructure; and can be piloted or disabled remotely"". China is the world's largest producer of cars and vying with Japan to be the biggest exporter of vehicles. The number of Chinese cars on US roads is, however, extremely low due to the fact the latter currently imposes a 27.5% tariff on the vehicles. This week, while on a trip to China, US Treasury Secretary Janet Yellen warned Beijing that Washington would not allow a repeat of the ""China shock"" of the early 2000s, when Chinese imports flooded into America. In response, China's vice finance minister, Liao Min, expressed ""grave concern"" over restrictions the US has imposed on trade and investment. Mr Liao said China's competitive advantages are due to its ""large-scale market, complete industrial system and abundant human resources"". Also on Thursday, America's biggest airlines asked the Biden administration to halt approvals of new flights between the US and China. In a letter to Secretary of State Antony Blinken and Transportation Department Secretary Pete Buttigieg they said China's “damaging anti-competitive policies” put US carriers at a disadvantage. “If the growth of the Chinese aviation market is allowed to continue unchecked and without concern for equality of access in the market, flights will continue to be relinquished to Chinese carriers at the expense of US workers and businesses.” The world's two biggest economies have been locked in a trade war since 2018 when the then-Trump administration imposed tariffs on more than $360bn (£287bn) of Chinese goods. Beijing retaliated with tariffs on more than $110bn of US products. President Joe Biden has largely kept those tariffs in place. Last year the value of goods the US bought from China fell by just over 20% to $427bn. At the same time, US exports to China dipped by 4% to just under $148bn. ",BBC,12/04/2024,"['President Joe Biden has been urged to ban imports of Chinese-made electric cars to the US.', 'The chair of the Senate Banking Committee, Senator Sherrod Brown, wrote ""Chinese electric vehicles are an existential threat to the American auto industry"".', 'His comments are the strongest yet by any US lawmaker on the issue, while others have called for steep tariffs to keep Chinese electric vehicles (EV) out of the country.', 'In February, the White House said the US was opening an investigation into whether Chinese cars pose a national security risk. ""', 'We cannot allow China to bring its government-backed cheating to the American auto industry"", Senator Brown said in a video on the social media platform X, formerly Twitter.', ""Senator Brown, who is a Democrat from the the car-producing state of Ohio, is seeking to win a fourth term in office in November's election."", 'The White House did not immediately respond to a BBC request for comment.', 'In February, President Biden said that China\'s policies ""could flood our market with its vehicles, posing risks to our national security"" and that he would ""not let that happen on my watch.""', 'Washington could impose restrictions over concerns that the technology in Chinese-made cars could ""collect large amounts of sensitive data on their drivers and passengers"", the White House said.', 'It warned cars that are connected to the internet ""regularly use their cameras and sensors to record detailed information on US infrastructure; interact directly with critical infrastructure; and can be piloted or disabled remotely"".', ""China is the world's largest producer of cars and vying with Japan to be the biggest exporter of vehicles."", 'The number of Chinese cars on US roads is, however, extremely low due to the fact the latter currently imposes a 27.5% tariff on the vehicles.', 'This week, while on a trip to China, US Treasury Secretary Janet Yellen warned Beijing that Washington would not allow a repeat of the ""China shock"" of the early 2000s, when Chinese imports flooded into America.', 'In response, China\'s vice finance minister, Liao Min, expressed ""grave concern"" over restrictions the US has imposed on trade and investment.', 'Mr Liao said China\'s competitive advantages are due to its ""large-scale market, complete industrial system and abundant human resources"".', ""Also on Thursday, America's biggest airlines asked the Biden administration to halt approvals of new flights between the US and China."", ""In a letter to Secretary of State Antony Blinken and Transportation Department Secretary Pete Buttigieg they said China's “damaging anti-competitive policies” put US carriers at a disadvantage. “"", 'If the growth of the Chinese aviation market is allowed to continue unchecked and without concern for equality of access in the market, flights will continue to be relinquished to Chinese carriers at the expense of US workers and businesses.”', ""The world's two biggest economies have been locked in a trade war since 2018 when the then-Trump administration imposed tariffs on more than $360bn (£287bn) of Chinese goods."", 'Beijing retaliated with tariffs on more than $110bn of US products.', 'President Joe Biden has largely kept those tariffs in place.', 'Last year the value of goods the US bought from China fell by just over 20% to $427bn.', 'At the same time, US exports to China dipped by 4% to just under $148bn.']",-0.1262775858008442,"Senator Brown, who is a Democrat from the the car-producing state of Ohio, is seeking to win a fourth term in office in November's election.",In a letter to Secretary of State Antony Blinken and Transportation Department Secretary Pete Buttigieg they said China's “damaging anti-competitive policies” put US carriers at a disadvantage. “,-0.8112587213516236,"Mr Liao said China's competitive advantages are due to its ""large-scale market, complete industrial system and abundant human resources"".","At the same time, US exports to China dipped by 4% to just under $148bn.",2024-04-12 -New York Community Bank’s online arm is paying the nation’s highest interest rate,https://www.cnbc.com/2024/04/10/nycb-is-paying-the-nations-highest-interest-rate-apy.html,2024-04-10T11:12:40+0000,"In this articleNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account.NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts.The standout rate could be a sign that NYCB is facing funding pressure, Tumin said.""It looks like they're trying really hard to attract deposits,"" Tumin said. ""My Banking Direct has been around for a long time, more than 10 years, so them having an aggressive rate could be a sign of neediness"" for funding.NYCB's woes began in January, when it said it was preparing for far greater losses on commercial real estate loans than analysts had expected. That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes. The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation.During a conference call held after the capital raise, analysts asked how NYCB managed to retain so much of its deposits during the tumultuous period.""We didn't do anything crazy relative to deposit pricing,"" NYCB chairman Sandro DiNello replied. ""We didn't go out and offer 6% CDs or something like that in order to make the numbers look good, if that's what you're concerned with.""NYCB didn't return a call for comment on its funding strategy.Joseph Otting, a former comptroller of the currency, took over as the bank's CEO on April 1, about a week before the rate increase.Despite the turnaround plan, shares of NYCB still trade for under $4 apiece and are off more than 68% year to date.Other banks offering rates higher than 5% right now tend to be newer or smaller players than NYCB, according to Tumin.Among established banks, the average high-yield savings rate is about 4.4%, and several of them (including American Express, Goldman Sachs and Ally) have dropped rates in the past month, he said. The NYCB rate also tops accounts listed on NerdWallet and Bankrate.Customer deposits at My Banking Direct are insured by the FDIC up to the standard $250,000.Over the past two years, savings account rates have broadly been on the rise.Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.""When a bank has to go out and advertise a much higher rate, it's typically because they have a deposit problem,"" Stucky said. ""It's not hard for customers to switch banks anymore.""",CNBC,10/04/2024,"[""In this articleNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account."", ""NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts."", 'The standout rate could be a sign that NYCB is facing funding pressure, Tumin said.', '""It looks like they\'re trying really hard to attract deposits,"" Tumin said. ""', 'My Banking Direct has been around for a long time, more than 10 years, so them having an aggressive rate could be a sign of neediness"" for funding.', ""NYCB's woes began in January, when it said it was preparing for far greater losses on commercial real estate loans than analysts had expected."", 'That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes.', ""The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation."", 'During a conference call held after the capital raise, analysts asked how NYCB managed to retain so much of its deposits during the tumultuous period.', '""Wedidn\'tdoanythingcrazyrelativetodepositpricing,"" NYCB chairman Sandro DiNello replied. ""', ""Wedidn't go out and offer 6% CDs or something like that in order to make the numbers look good, if that's what you're concerned with."", '""NYCB didn\'t return a call for comment on its funding strategy.', ""Joseph Otting, a former comptroller of the currency, took over as the bank's CEO on April 1, about a week before the rate increase."", 'Despite the turnaround plan, shares of NYCB still trade for under $4 apiece and are off more than 68% year to date.', 'Other banks offering rates higher than 5% right now tend to be newer or smaller players than NYCB, according to Tumin.', 'Among established banks, the average high-yield savings rate is about 4.4%, and several of them (including American Express, Goldman Sachs and Ally) have dropped rates in the past month, he said.', 'The NYCB rate also tops accounts listed on NerdWallet and Bankrate.', 'Customer deposits at My Banking Direct are insured by the FDIC up to the standard $250,000.Over the past two years, savings account rates have broadly been on the rise.', 'Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.', '""When a bank has to go out and advertise a much higher rate, it\'s typically because they have a deposit problem,"" Stucky said. ""', 'It\'s not hard for customers to switch banks anymore.""']",0.0767157870111379,"The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation.","Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.",-0.4568496563217856,"NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts.","That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes.",2024-04-12 -Toyota's first new 4Runner SUV in 15 years will offer a hybrid engine,https://www.cnbc.com/2024/04/09/2025-toyota-4runner-new-off-road-suv-will-include-a-hybrid-engine.html,2024-04-10T02:42:40+0000,"In this articleToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs.Aside from its new looks, which are similar to the recently redesigned Toyota Tacoma pickup, the 2025 4Runner will be offered with a hybrid engine for the first time as well as new ""Platinum"" and ""Trailhunter"" high-end trims.""This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family,"" Dave Christ, Toyota group vice president and general manager, said in a release. ""We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon.""Toyota's ""truck family"" is also known as the ""five brothers"": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs. The 4Runner is the last to be redesigned and built on Toyota's global truck platform, which debuted with the Land Cruiser and Tundra in 2021.Toyota said pricing of the 2025 4Runner will be released closer to its on-sale date. Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings. The current 4Runner has been on sale, with some updates, since 2010.Toyota said miles per gallon ratings for the new 4Runner will be released closer to the vehicle arriving in showrooms in the fall. Toyota's other redesigned trucks and SUVs have notably improved fuel economy.Jack Hollis, executive vice president of Toyota Motor North America, last month told CNBC that the company continues to balance out its truck and SUV portfolio, including potential hybrid, plug-in hybrid and all-electric models.""Those brothers, they all have a lot of similarities, and they have a lot of differences,"" he said. ""How do we curb carbon emissions fastest with everyone, everywhere? It's having the right mix between those five products.""The 4Runner's available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque. The vehicle's standard turbocharged 2.4-liter engine produces 278 horsepower and 317 foot-pounds of torque.The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.The new Trailhunter model features additional off-road styling and equipment including rock rails and high strength steel skid plates, while the Platinum model is geared toward more convenience and luxury features.Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan.Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years. A previous version of the article misstated how many years it had been.",CNBC,10/04/2024,"[""In this articleToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs."", 'Aside from its new looks, which are similar to the recently redesigned Toyota Tacoma pickup, the 2025 4Runner will be offered with a hybrid engine for the first time as well as new ""Platinum"" and ""Trailhunter"" high-end trims.', '""This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family,"" Dave Christ, Toyota group vice president and general manager, said in a release. ""', ""We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon."", '""Toyota\'s ""truck family"" is also known as the ""five brothers"": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs.', ""The 4Runner is the last to be redesigned and built on Toyota's global truck platform, which debuted with the Land Cruiser and Tundra in 2021.Toyota said pricing of the 2025 4Runner will be released closer to its on-sale date."", 'Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings.', 'The current 4Runner has been on sale, with some updates, since 2010.Toyota said miles per gallon ratings for the new 4Runner will be released closer to the vehicle arriving in showrooms in the fall.', ""Toyota's other redesigned trucks and SUVs have notably improved fuel economy."", 'Jack Hollis, executive vice president of Toyota Motor North America, last month told CNBC that the company continues to balance out its truck and SUV portfolio, including potential hybrid, plug-in hybrid and all-electric models.', '""Those brothers, they all have a lot of similarities, and they have a lot of differences,"" he said. ""', 'How do we curb carbon emissions fastest with everyone, everywhere?', ""It's having the right mix between those five products."", '""The 4Runner\'s available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque.', ""The vehicle's standard turbocharged 2.4-liter engine produces 278 horsepower and 317 foot-pounds of torque."", 'The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.', 'The new Trailhunter model features additional off-road styling and equipment including rock rails and high strength steel skid plates, while the Platinum model is geared toward more convenience and luxury features.', ""Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan."", 'Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years.', 'A previous version of the article misstated how many years it had been.']",0.1106137197191722,"We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon.","The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.",0.3299002846082051,Toyota's other redesigned trucks and SUVs have notably improved fuel economy.,"Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings.",2024-04-12 -Ohtani translator accused of stealing $16 million from Dodgers star,https://www.cnbc.com/2024/04/11/ohtani-translator-accused-of-stealing-16-million-from-dodgers-star.html,2024-04-12T00:57:20+0000,"Shohei Ohtani's former translator Ippei Mizuhara allegedly stole more than $16 million from the Los Angeles Dodgers star to cover millions of dollars of gambling debts, the U.S. attorney's office announced Thursday.The office, which filed a criminal complaint against Mizuhara alleging bank fraud on Thursday, also said Ohtani had no knowledge of the fraud and is considered a victim in the case.The bets were not placed on baseball games, the office said.Mizuhara had been Ohtani's translator for years. During that time, the attorney's office discovered Mizuhara had full access to Ohtani's bank accounts. Phone records indicate he accessed them online and lied to the bank, pretending to be Ohtani, the office said. He refused to give access to the accounts to Ohtani's agent and other advisors.On March 20, 2024, Mizuhara admitted to a bookmaker in an encrypted text message that he had stolen the money from Ohtani, according to the complaint. ""Technically I did steal from him. It's all over for me,"" he wrote.Mizuhara has been the subject of a federal investigation surrounding millions of dollars in wire transfers originating from Ohtani's bank account to an illegal bookmaker beginning in November 2021.""Due to the position of trust, he had unique access to his finances and he used and abused that place of trust to take advantage of Mr. Ohtani,"" said U.S. Attorney Martin Estrada.Attorneys for Ohtani, Mizuhara and the Dodgers declined to comment on the charges.The Ohtani fraud was first discovered as the U.S. Department of Justice was looking into illegal sports bookmaking operations in Southern California and the laundering of the proceeds of those operations through casinos in Las Vegas. The investigations have led to criminal charges and/or convictions of 12 criminal defendants, the complaint said.While sports gambling is legal in 38 states and Washington, D.C., it is illegal in California, which has driven some bettors to illegal operations.Mizuhara faces a maximum sentence of 30 years in prison for the charges and is expected to make a court appearance in the next couple of days.Estrada said Mizuhara kept his winnings in his own bank account.Despite owing bookmakers millions of dollars in losses, Mizuhara repeatedly asked them to increase his betting limits.""Bad run,"" he texted a bookmaker. ""Any chance you can bump me again?? As you know, you don't have to worry about me not paying!!""By November 2023, Mizuhara's debts had become crippling. He messaged the same bookmaker saying he ended up losing a lot of money on crypto investments in the past couple of years and took huge hits with the sports betting, too.""Is there any way to settle on an amount? I've lost way too much on the site already … of course I know it's my fault,"" he said.Law enforcement officials said Ohtani has been fully cooperating and allowed them access to his electronic devices.Ohtani told officials he believed his accountants and financial advisors were monitoring his accounts and because he received income from both foreign and domestic sources, he would generally not ask about specific accounts, but rather, an overall picture of his investment profile. Yet, due to the language barrier, financial agents and advisors communicated through Mizuhara to translate to their client.In a March 25 press conference, Ohtani said he had just learned about the theft and said he felt sad, shocked and betrayed by someone he had trusted.""I've never bet on baseball, any other sports or never asked somebody to do it on my behalf,"" Ohtani said through another translator.Previously, Mizuhara had said Ohtani knew about the debts and was helping him pay them off. He later backtracked from those statements.Ohtani is one of the biggest stars in Major League Baseball. The 29-year-old Japanese-born pitcher joined the Dodgers on Dec. 9 with a record 10-year, $700 million contract following six seasons with the Los Angeles Angels.Ohtani is the only MLB player to win the American League MVP by unanimous vote twice and the first Japanese-born player to lead the major league in home runs.If Ohtani was found to be involved, he could be in violation of the MLB's gambling policy. Punishments range from suspension of a season to being permanently ineligible.Correction: This story has been updated to correct the spelling of Shohei Ohtani's first name.",CNBC,12/04/2024,"[""Shohei Ohtani's former translator Ippei Mizuhara allegedly stole more than $16 million from the Los Angeles Dodgers star to cover millions of dollars of gambling debts, the U.S. attorney's office announced Thursday."", 'The office, which filed a criminal complaint against Mizuhara alleging bank fraud on Thursday, also said Ohtani had no knowledge of the fraud and is considered a victim in the case.', 'The bets were not placed on baseball games, the office said.', ""Mizuhara had been Ohtani's translator for years."", ""During that time, the attorney's office discovered Mizuhara had full access to Ohtani's bank accounts."", 'Phone records indicate he accessed them online and lied to the bank, pretending to be Ohtani, the office said.', ""He refused to give access to the accounts to Ohtani's agent and other advisors."", 'On March 20, 2024, Mizuhara admitted to a bookmaker in an encrypted text message that he had stolen the money from Ohtani, according to the complaint. ""', 'Technically I did steal from him.', 'It\'s all over for me,"" he wrote.', 'Mizuhara has been the subject of a federal investigation surrounding millions of dollars in wire transfers originating from Ohtani\'s bank account to an illegal bookmaker beginning in November 2021.""Due to the position of trust, he had unique access to his finances and he used and abused that place of trust to take advantage of Mr. Ohtani,"" said U.S. Attorney Martin Estrada.', 'Attorneys for Ohtani, Mizuhara and the Dodgers declined to comment on the charges.', 'The Ohtani fraud was first discovered as the U.S. Department of Justice was looking into illegal sports bookmaking operations in Southern California and the laundering of the proceeds of those operations through casinos in Las Vegas.', 'The investigations have led to criminal charges and/or convictions of 12 criminal defendants, the complaint said.', 'While sports gambling is legal in 38 states and Washington, D.C., it is illegal in California, which has driven some bettors to illegal operations.', 'Mizuhara faces a maximum sentence of 30 years in prison for the charges and is expected to make a court appearance in the next couple of days.', 'Estrada said Mizuhara kept his winnings in his own bank account.', 'Despite owing bookmakers millions of dollars in losses, Mizuhara repeatedly asked them to increase his betting limits.', '""Bad run,"" he texted a bookmaker. ""', 'Any chance you can bump me again??', 'As you know, you don\'t have to worry about me not paying!!""By November 2023, Mizuhara\'s debts had become crippling.', 'He messaged the same bookmaker saying he ended up losing a lot of money on crypto investments in the past couple of years and took huge hits with the sports betting, too.', '""Is there any way to settle on an amount?', 'I\'ve lost way too much on the site already … of course I know it\'s my fault,"" he said.', 'Law enforcement officials said Ohtani has been fully cooperating and allowed them access to his electronic devices.', 'Ohtani told officials he believed his accountants and financial advisors were monitoring his accounts and because he received income from both foreign and domestic sources, he would generally not ask about specific accounts, but rather, an overall picture of his investment profile.', 'Yet, due to the language barrier, financial agents and advisors communicated through Mizuhara to translate to their client.', 'In a March 25 press conference, Ohtani said he had just learned about the theft and said he felt sad, shocked and betrayed by someone he had trusted.', '""I\'ve never bet on baseball, any other sports or never asked somebody to do it on my behalf,"" Ohtani said through another translator.', 'Previously, Mizuhara had said Ohtani knew about the debts and was helping him pay them off.', 'He later backtracked from those statements.', 'Ohtani is one of the biggest stars in Major League Baseball.', 'The 29-year-old Japanese-born pitcher joined the Dodgers on Dec. 9 with a record 10-year, $700 million contract following six seasons with the Los Angeles Angels.', 'Ohtani is the only MLB player to win the American League MVP by unanimous vote twice and the first Japanese-born player to lead the major league in home runs.', ""If Ohtani was found to be involved, he could be in violation ofthe MLB's gambling policy."", 'Punishments range from suspension of a season to being permanently ineligible.', ""Correction: This story has been updated to correct the spelling of Shohei Ohtani's first name.""]",-0.2061435279373148,Ohtani is the only MLB player to win the American League MVP by unanimous vote twice and the first Japanese-born player to lead the major league in home runs.,"The office, which filed a criminal complaint against Mizuhara alleging bank fraud on Thursday, also said Ohtani had no knowledge of the fraud and is considered a victim in the case.",-0.7496014634768168,Law enforcement officials said Ohtani has been fully cooperating and allowed them access to his electronic devices.,"He messaged the same bookmaker saying he ended up losing a lot of money on crypto investments in the past couple of years and took huge hits with the sports betting, too.",2024-04-12 -"Bank of England: 'Serious deficiencies' in economy forecasts, review finds",https://www.bbc.co.uk/news/business-68797651,2024-04-12T11:35:39.000Z,"The Bank of England's economic forecasting system has ""serious deficiencies"" that need to be modernised, according to a review. The independent report by Dr Ben Bernanke, former head of the US central bank, found staff used outdated systems that should be overhauled or replaced. He found there had been serious under-investment in the Bank's software. But Governor Andrew Bailey said updating the Bank's systems was a ""high priority"". The former head of the Federal Reserve, said that a ""material degree"" of under-investment had led to staff using a ""complicated and unwieldy system"". This holds staff back from producing useful analysis on what might happen to the economy, he said. Updating and modernising how its system handles economic data should be completed ""with high priority"" and ""as rapidly as feasible"", Dr Bernanke said in the critical review. He was asked to carry out the review last July after the UK's central bank came under fire from MPs for failing to anticipate the scale or duration of inflation - which measures how prices rise over time - over the past two years. Responding for the Bank of England, Governor Andrew Bailey said: ""Substantial investment is being made to develop our infrastructure and to update our system. It's a high priority."" Governor Bailey was criticised by members of Parliament and independent economists for allowing a surge in inflation worse than both the US and eurozone. However, Dr Bernanke said central banks across the world faced the same problems with forecasting models being disrupted by unprecedented economic shocks. Inflation began to rise above the Bank of England's 2% target in the summer of 2021 as the global economy bounced back from the pandemic and the supply of commodities from petrol to food struggled to keep up with resurgent demand. That was made worse by Russia's invasion of Ukraine, which cut the supply of commodities from gas to sunflower oil and forced up prices further. In the UK, inflation hit a peak of 11.1% in October 2022, placing serious pressure on the budgets of both businesses and households. Mr Bailey said repeatedly throughout late 2021 and early 2022 that the Bank's Monetary Policy Committee (MPC), which sets interest rates, believed the surge in inflation was ""transitory"". However, the spike in inflation proved more sustained than expected and started to translate into higher pay rises. Between December 2021 and August 2022, the central bank raised interest rates 14 times in a row to try to bring inflation under control. Higher interest rates have led millions of mortgage borrowers to face a ""payment shock"", where their monthly payments jump to a much higher level as they come to the end of fixed-rate mortgage deals. Further upward pressure on inflation came from an unexpected shortage of available workers, partly due to the effects of long-term sickness such as long Covid. That led employers in the private sector to increase wages to attract and retain staff. Governor Bailey has admitted the Bank's forecasting models failed to anticipate this, which led to a tighter labour market and therefore a greater susceptibility to inflation. Dr Bernanke's review recommends the Bank must thoroughly update its whole framework for forecasting the economy, overhauling or scrapping its existing software, known as Compass (Central Organising Model for Projection Analysis and Scenario Simulation). He said the models should take into account how higher prices can cause higher wages - as well as vice versa. He also said the Bank of England's forecasting models should pay greater attention to factors like the supply of labour and supply chain disruptions. And he said the Bank should lay less emphasis on its ""central forecast"", where it justifies moves in interest rates based on what it regards as the most likely path for inflation over the next one or two years. Scenarios should also be published which might prove its forecast wrong, he said, such as disruptions to supply chains, as well as relying on its own forecasters more instead of City traders. Sanjay Raja, chief UK economist at Deutsche Bank Research, suggested that more work would be needed to get the Bank's forecasting systems up to scratch. He pointed out some tweaks to the MPC's communications would be coming in to improve transparency around how it makes interest rate decisions. But, the review would not be ""a game change for how policy is conducted"", he added. Tackling It Together: More tips to help you manage debt ",BBC,12/04/2024,"['The Bank of England\'s economic forecasting system has ""serious deficiencies"" that need to be modernised, according to a review.', 'The independent report by Dr Ben Bernanke, former head of the US central bank, found staff used outdated systems that should be overhauled or replaced.', ""He found there had been serious under-investment in the Bank's software."", 'But Governor Andrew Bailey said updating the Bank\'s systems was a ""high priority"".', 'The former head of the Federal Reserve, said that a ""material degree"" of under-investment had led to staff using a ""complicated and unwieldy system"".', 'This holds staff back from producing useful analysis on what might happen to the economy, he said.', 'Updating and modernising how its system handles economic data should be completed ""with high priority"" and ""as rapidly as feasible"", Dr Bernanke said in the critical review.', ""He was asked to carry out the review last July after the UK's central bank came under fire from MPs for failing to anticipate the scale or duration of inflation - which measures how prices rise over time - over the past two years."", 'Responding for the Bank of England, Governor Andrew Bailey said: ""Substantial investment is being made to develop our infrastructure and to update our system.', 'It\'s a high priority.""', 'Governor Bailey was criticised by members of Parliament and independent economists for allowing a surge in inflation worse than both the US and eurozone.', 'However, Dr Bernanke said central banks across the world faced the same problems with forecasting models being disrupted by unprecedented economic shocks.', ""Inflation began to rise above the Bank of England's 2% target in the summer of 2021 as the global economy bounced back from the pandemic and the supply of commodities from petrol to food struggled to keep up with resurgent demand."", ""That was made worse by Russia's invasion of Ukraine, which cut the supply of commodities from gas to sunflower oil and forced up prices further."", 'In the UK, inflation hit a peak of 11.1% in October 2022, placing serious pressure on the budgets of both businesses and households.', 'Mr Bailey said repeatedly throughout late 2021 and early 2022 that the Bank\'s Monetary Policy Committee (MPC), which sets interest rates, believed the surge in inflation was ""transitory"".', 'However, the spike in inflation proved more sustained than expected and started to translate into higher pay rises.', 'Between December 2021 and August 2022, the central bank raised interest rates 14 times in a row to try to bring inflation under control.', 'Higher interest rates have led millions of mortgage borrowers to face a ""payment shock"", where their monthly payments jump to a much higher level as they come to the end of fixed-rate mortgage deals.', 'Further upward pressure on inflation came from an unexpected shortage of available workers, partly due to the effects of long-term sickness such as long Covid.', 'That led employers in the private sector to increase wages to attract and retain staff.', ""Governor Bailey has admitted the Bank's forecasting models failed to anticipate this, which led to a tighter labour market and therefore a greater susceptibility to inflation."", ""Dr Bernanke's review recommends the Bank must thoroughly update its whole framework for forecasting the economy, overhauling or scrapping its existing software, known as Compass (Central Organising Model for Projection Analysis and Scenario Simulation)."", 'He said the models should take into account how higher prices can cause higher wages - as well as vice versa.', ""He also said the Bank of England's forecasting models should pay greater attention to factors like the supply of labour and supply chain disruptions."", 'And he said the Bank should lay less emphasis on its ""central forecast"", where it justifies moves in interest rates based on what it regards as the most likely path for inflation over the next one or two years.', 'Scenarios should also be published which might prove its forecast wrong, he said, such as disruptions to supply chains, as well as relying on its own forecasters more instead of City traders.', ""Sanjay Raja, chief UK economist at Deutsche Bank Research, suggested that more work would be needed to get the Bank's forecasting systems up to scratch."", ""He pointed out some tweaks to the MPC's communications would be coming in to improve transparency around how it makes interest rate decisions."", 'But, the review would not be ""a game change for how policy is conducted"", he added.', 'Tackling It Together: More tips to help you manage debt']",-0.0328864426302113,He pointed out some tweaks to the MPC's communications would be coming in to improve transparency around how it makes interest rate decisions.,"That was made worse by Russia's invasion of Ukraine, which cut the supply of commodities from gas to sunflower oil and forced up prices further.",-0.3605883181095123,"However, the spike in inflation proved more sustained than expected and started to translate into higher pay rises.","In the UK, inflation hit a peak of 11.1% in October 2022, placing serious pressure on the budgets of both businesses and households.",2024-04-12 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-04-12 -Healthy Returns: J&J cell therapy gains new edge over Bristol Myers rival,https://www.cnbc.com/2024/04/09/healthy-returns-jj-cell-therapy-gains-edge-over-bristol-myers-rival.html,2024-04-11T20:54:08+0000,"In this articleThink a friend or colleague should be getting this newsletter? Share this link with them to sign up.Hi folks! Two competing cell therapies from Bristol Myers Squibb and Johnson & Johnson both got good news from the Food and Drug Administration last week. But J&J's drug is walking away with a notable edge over its rival.The FDA expanded the approvals of both therapies, allowing patients to use them as earlier lines of treatment for a type of blood cancer called multiple myeloma. That can damage the bones, immune system, kidneys and red blood cell count.Before that decision, J&J's drug Carvykti and Bristol Myers's treatment Abecma were both only available to people who previously received at least four specific drug regimens for the incurable blood cancer. First and foremost, the expanded approvals are a major step for patients. They add more options to a growing arsenal of treatments that have helped improve outcomes for people with multiple myeloma. People with the disease often relapse or their cancer becomes resistant to one treatment, requiring them to switch to different drug regimens. There's no doubt that the approvals will expand the reach of both treatments to thousands of eligible patients. New cases of multiple myeloma crop up each year: More than 35,000 new cases will be diagnosed in 2024 in the U.S., according to J&J's estimates. But the new approvals also give J&J's therapy, which was developed with Legend Biotech, a clear advantage over Bristol Myers's drug. The FDA's expanded approval says patients can use Carvykti after just one prior line of therapy for multiple myeloma and if certain conditions apply. J&J has said that earlier access to the drug may provide patients with the potential for a treatment-free period earlier in the progression of the disease.Bristol Myers's Abecma, which is co-marketed by 2seventy bio, can be administered after at least two drug regimens for multiple myeloma, under the new FDA approval. Here's what some analysts are saying: The product label difference between the two drugs offers a ""significant commercial advantage for Carvykti,"" Jefferies analyst Kelly Shi wrote in a Sunday note. Carvykti's eligibility as a second-line treatment for multiple myeloma ""should limit the use"" of other similar cell therapies in the following lines of therapy, Shi said. Both Carvykti and Abecma belong to a class of personalized treatments known as chimeric antigen receptor T-cell – or CAR-T – therapies that work by modifying white blood cells known as T-cells to attack cancer. J&J's drug has gradually gained ground over Abecma in the CAR-T market for multiple myeloma, even though it first entered the market a year later. With the new approval on Friday, Jefferies' Shi expects J&J's drug to win the majority of that market share. The firm believes Carvykti is ""well positioned"" to eventually reach more than 80,000 patients in the U.S., EU and Japan as a second, third or fourth line of therapy. The FDA's expanded approval of Carvykti could also put it on track to be a blockbuster product for J&J. Last year, the drug pulled in just $500 million in worldwide sales, according to Legend Biotech. The drug's long-term opportunity could be around $8 billion a year, and the expansion as a second-line treatment for multiple myeloma makes for a ""key market segment for achieving this revenue,"" Cantor Fitzgerald analyst Rick Bienkowski wrote in a Wednesday note ahead of the approval. Guggenheim analyst Kelsey Goodwin said Abecma's peak annual sales could be around $450 million a year, according to a Reuters interview last week. Bristol Myers's drug brought in $472 million in worldwide sales in 2023. But even with new approvals under their belts, the two companies are grappling with the same long-term issue: supply constraints. Both J&J and Bristol Myers have outlined plans to boost production of their respective drugs. I'll be watching to see how that part of the story plays out later this year, so stay tuned.Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.On Monday, I visited part of the Mount Sinai Health System, which spans eight hospital campuses and a medical school, to learn about how it's using generative artificial intelligence. In a small corner of The Mount Sinai Hospital that currently serves as the med school's AI department, I spoke with executives about current initiatives and plans for the future – including plans to move that very department to a much larger, brand new building in June.While Mount Sinai has been exploring applications of more traditional machine learning models for years, like many health systems, the organization has been looking closely at generative AI since OpenAI's ChatGPT exploded onto the scene at the end of 2022.Dr. Bruce Darrow, the health system's interim chief digital and information officer, said Mount Sinai is evaluating use cases across patient care, education and research. Within patient care, anything the health system can do to safely help clinicians and staff speed up decision making is important, he said. For instance, Mount Sinai's radiologists (doctors who use medical images like CT scans, MRIs and X-rays to identify and treat conditions) are already working with a number of new AI tools. Dr. Laurie Margolies, director of breast imaging at Mount Sinai, said she is exposed to three different AI software tools in her day-to-day work. One tool can evaluate an entire mammogram, another can evaluate a breast ultrasound and the third evaluates image quality, which radiologists can use to check on their technique and positioning, Margolies said. While radiologists don't ever just defer to the computer, she said, AI can help provide an extra layer of assurance.   ""I think it's a wellness tool,"" Margolies said. ""I think it's making me much more relaxed. When I think a mammogram is normal, and the AI thinks it's normal, I'm more confident hitting that normal button.""Despite the ongoing hype and excitement around generative AI's potential in health care, Mount Sinai is trying to take a measured approach to its implementation. Dr. David Reich, president at The Mount Sinai Hospital and Mount Sinai Queens, said a lot of the initial use cases have been rather quiet. One of the first places the technology was introduced, for instance, was in Mount Sinai's financial departments, where Reich said people are now processing bills more effectively. ""We'd rather be a little bit more slow and plodding and workflow-focused because we're in a very serious business,"" he said. Reich said it can be challenging to determine which AI solutions are actually worthwhile, so Mount Sinai has established a governance structure to help assess whether a tool is safe, feasible, practical and ethical to use. Above all else, the software needs to help address real problems, he said. ""A lot of people just want to sell an algorithm,"" Reich said.Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.Correction: An earlier version of this newsletter misstated the timing of Food and Drug Administration approval for Bristol Myers Squibb's Abecma and Johnson & Johnson's Carvykti.",CNBC,11/04/2024,"['In this articleThink a friend or colleague should be getting this newsletter?', 'Share this link with them to sign up.', 'Hi folks!', 'Two competing cell therapies from Bristol Myers Squibb and Johnson & Johnson both got good news from the Food and Drug Administration last week.', ""But J&J's drug is walking away with a notable edge over its rival."", 'The FDA expanded the approvals of both therapies, allowing patients to use them as earlier lines of treatment for a type of blood cancer called multiple myeloma.', 'That can damage the bones, immune system, kidneys and red blood cell count.', ""Before that decision, J&J's drug Carvykti and Bristol Myers's treatment Abecma were both only available to people who previously received at least four specific drug regimens for the incurable blood cancer."", 'First and foremost, the expanded approvals are a major step for patients.', 'They add more options to a growing arsenal of treatments that have helped improve outcomes for people with multiple myeloma.', 'People with the disease often relapse or their cancer becomes resistant to one treatment, requiring them to switch to different drug regimens.', ""There's no doubt that the approvals will expand the reach of both treatments to thousands of eligible patients."", ""New cases of multiple myeloma crop up each year: More than 35,000 new cases will be diagnosed in 2024 in the U.S., according to J&J's estimates."", ""But the new approvals also give J&J's therapy, which was developed with Legend Biotech, a clear advantage over Bristol Myers's drug."", ""The FDA's expanded approval says patients can use Carvykti after just one prior line of therapy for multiple myeloma and if certain conditions apply."", 'J&J has said that earlier access to the drug may provide patients with the potential for a treatment-free period earlier in the progression of the disease.', ""Bristol Myers's Abecma, which is co-marketed by 2seventy bio, can be administered after at least two drug regimens for multiple myeloma, under the new FDA approval."", 'Here\'s what some analysts are saying: The product label difference between the two drugs offers a ""significant commercial advantage for Carvykti,"" Jefferies analyst Kelly Shi wrote in a Sunday note.', 'Carvykti\'s eligibility as a second-line treatment for multiple myeloma ""should limit the use"" of other similar cell therapies in the following lines of therapy, Shi said.', 'Both Carvykti and Abecma belong to a class of personalized treatments known as chimeric antigen receptor T-cell – or CAR-T – therapies that work by modifying white blood cells known as T-cells to attack cancer.', ""J&J's drug has gradually gained ground over Abecma in the CAR-T market for multiple myeloma, even though it first entered the market a year later."", ""With the new approval on Friday, Jefferies' Shi expects J&J's drug to win the majority of that market share."", 'The firm believes Carvykti is ""well positioned"" to eventually reach more than 80,000 patients in the U.S., EU and Japan as a second, third or fourth line of therapy.', ""The FDA's expanded approval of Carvykti could also put it on track to be a blockbuster product for J&J. Last year, the drug pulled in just $500 million in worldwide sales, according to Legend Biotech."", 'The drug\'s long-term opportunity could be around $8 billion a year, and the expansion as a second-line treatment for multiple myeloma makes for a ""key market segment for achieving this revenue,"" Cantor Fitzgerald analyst Rick Bienkowski wrote in a Wednesday note ahead of the approval.', ""Guggenheim analyst Kelsey Goodwin said Abecma's peak annual sales could be around $450 million a year, according to a Reuters interview last week."", ""Bristol Myers's drug brought in $472 million in worldwide sales in 2023.But even with new approvals under their belts, the two companies are grappling with the same long-term issue: supply constraints."", 'Both J&J and Bristol Myers have outlined plans to boost production of their respective drugs.', ""I'll be watching to see how that part of the story plays out later this year, so stay tuned."", 'Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.', ""On Monday, I visited part of the Mount Sinai Health System, which spans eight hospital campuses and a medical school, to learn about how it's using generative artificial intelligence."", ""In a small corner of The Mount Sinai Hospital that currently serves as the med school's AI department, I spoke with executives about current initiatives and plans for the future – including plans to move that very department to a much larger, brand new building in June."", ""While Mount Sinai has been exploring applications of more traditional machine learning models for years, like many health systems, the organization has been looking closely at generative AI since OpenAI's ChatGPT exploded onto the scene at the end of 2022.Dr."", ""Bruce Darrow, the health system's interim chief digital and information officer, said Mount Sinai is evaluating use cases across patient care, education and research."", 'Within patient care, anything the health system can do to safely help clinicians and staff speed up decision making is important, he said.', ""For instance, Mount Sinai's radiologists (doctors who use medical images like CT scans, MRIs and X-rays to identify and treat conditions) are already working with a number of new AI tools."", 'Dr. Laurie Margolies, director of breast imaging at Mount Sinai, said she is exposed to three different AI software tools in her day-to-day work.', 'One tool can evaluate an entire mammogram, another can evaluate a breast ultrasound and the third evaluates image quality, which radiologists can use to check on their technique and positioning, Margolies said.', ""While radiologists don't ever just defer to the computer, she said, AI can help provide an extra layer of assurance."", '""I think it\'s a wellness tool,"" Margolies said. ""', ""I think it's making me much more relaxed."", ""When I think a mammogram is normal, and the AI thinks it's normal, I'm more confident hitting that normal button."", '""Despite the ongoing hype and excitement around generative AI\'s potential in health care, Mount Sinai is trying to take a measured approach to its implementation.', 'Dr. David Reich, president at The Mount Sinai Hospital and Mount Sinai Queens, said a lot of the initial use cases have been rather quiet.', ""One of the first places the technology was introduced, for instance, was in Mount Sinai's financial departments, where Reich said people are now processing bills more effectively."", '""We\'d rather be a little bit more slow and plodding and workflow-focused because we\'re in a very serious business,"" he said.', 'Reich said it can be challenging to determine which AI solutions are actually worthwhile, so Mount Sinai has established a governance structure to help assess whether a tool is safe, feasible, practical and ethical to use.', 'Above all else, the software needs to help address real problems, he said.', '""A lot of people just want to sell an algorithm,"" Reich said.', 'Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.', ""Correction: An earlier version of this newsletter misstated the timing of Food and Drug Administration approval for Bristol Myers Squibb's Abecma and Johnson & Johnson's Carvykti.""]",0.27181900772315,"Reich said it can be challenging to determine which AI solutions are actually worthwhile, so Mount Sinai has established a governance structure to help assess whether a tool is safe, feasible, practical and ethical to use.",Both Carvykti and Abecma belong to a class of personalized treatments known as chimeric antigen receptor T-cell – or CAR-T – therapies that work by modifying white blood cells known as T-cells to attack cancer.,0.7903719199331183,"J&J's drug has gradually gained ground over Abecma in the CAR-T market for multiple myeloma, even though it first entered the market a year later.","That can damage the bones, immune system, kidneys and red blood cell count.",2024-04-12 -Paralympians urge Nike to allow single shoe sales,https://www.bbc.co.uk/news/newsbeat-68739752,2024-04-11T10:08:25.000Z,"A Paralympian has criticised Nike for using amputee mannequins to promote its products when it doesn't sell single trainers. Stef Reid, a single-leg amputee, said she was only able to buy the company's running shoes in pairs. She told BBC Newsbeat companies that portray ""an image of diversity and inclusion"" should back it with action. Nike thanked her for raising the issue and said it was ""exploring opportunities"". It added that it hoped to learn from its One Shoe Bank programme, currently only available in the US. The scheme provides single-leg amputees with one free trainer each year free of charge. Stef, who has competed at Beijing 2008, London 2012 and Rio 2016, lost part of her right leg in an accident when she was a teenager. After spotting a pair of Nike trainers in one of the brand's own stores, Stef, who has competed for Great Britain, says she was told she had to buy both shoes. When Stef explained her situation, and pointed out that the shop was using one-blade, one-shoe mannequins, she says she was offered ""a one-time discount"". The retired athlete says she has ""no problem paying"" for her hobby, but can't understand why she's paying for a product when she has to ""chuck the other half out"". ""I'm still only going to have one foot, so this isn't a solution. And it's bigger than me,"" she says. Stef says she doesn't want ""a one-time solution"", but wants to be heard. ""This isn't just about me. They said they were going to take it to higher up. ""I just want a conversation with Nike."" British Paralympic athlete Sophie Kamlish also feels ""companies should do more"". ""Nike are using the image of inclusion, which is really cool. You wouldn't have seen that a few years ago, but they're not being as helpful when it comes to buying one shoe,"" the 27-year-old tells Newsbeat. Sprinter Sophie has competed in T44 events and represented Great Britain at London 2012 and Rio 2016. ""It's irritating and annoying because I've got these perfectly good shoes just hanging around my house that I have to throw in the bin, or not use at all,"" she says. Sophie, who lives in Bath, says she's ""been very lucky"" to find a shoe-swap partner with someone who had an opposite side amputation. ""But it's quite a rarity to be able to find that sole-mate,"" she says. Josephine Bridges, founder of charity Positive Bones, adds that one-shoe could benefit everyone, including people who aren't amputees. ""There are people who have shoe sizes that are slightly different on each foot. And so if we're able to buy one shoe, there's a real benefit there. ""Sometimes you have one shoe that wears out much faster than the other. ""It could mean that people could be less wasteful by getting that one shoe replacement."" Josephine had her amputation in 2018, and agrees ""more representation"" is a good thing. But when it's not followed up with actions, ""it can it can kind of cut a bit in the gut,"" she says. Stef feels it's not a case of companies being ""intentionally non-inclusive"", but more a case of ""nobody's asked the question"". ""Often I think it's an oversight,"" she says. ""I don't have an expectation that every company is going to cater to me as an amputee, at a financial loss to them. ""But diverse and inclusive thinking can lead to a better way of doing business."" In a TikTok video, Stef, who won T44 bronze in 2008 when previously representing Canada, also spoke about other companies - Decathlon and Brooks Running - having similar policies. Brooks told Newsbeat it's ""a brand that believes in the power of a diverse running community"" and was ""looking into solutions to fill"" requests for single shoes. Decathlon has not yet responded to Newsbeat's request for comment. Listen to Newsbeat live at 12:45 and 17:45 weekdays - or listen back here. ",BBC,11/04/2024,"[""A Paralympian has criticised Nike for using amputee mannequins to promote its products when it doesn't sell single trainers."", ""Stef Reid, a single-leg amputee, said she was only able to buy the company's running shoes in pairs."", 'She told BBC Newsbeat companies that portray ""an image of diversity and inclusion"" should back it with action.', 'Nike thanked her for raising the issue and said it was ""exploring opportunities"".', 'It added that it hoped to learn from its One Shoe Bank programme, currently only available in the US.', 'The scheme provides single-leg amputees with one free trainer each year free of charge.', 'Stef, who has competed at Beijing 2008, London 2012 and Rio 2016, lost part of her right leg in an accident when she was a teenager.', ""After spotting a pair of Nike trainers in one of the brand's own stores, Stef, who has competed for Great Britain, says she was told she had to buy both shoes."", 'When Stef explained her situation, and pointed out that the shop was using one-blade, one-shoe mannequins, she says she was offered ""a one-time discount"".', 'The retired athlete says she has ""no problem paying"" for her hobby, but can\'t understand why she\'s paying for a product when she has to ""chuck the other half out"". ""', ""I'm still only going to have one foot, so this isn't a solution."", 'And it\'s bigger than me,"" she says.', 'Stef says she doesn\'t want ""a one-time solution"", but wants to be heard. ""', ""This isn't just about me."", 'They said they were going to take it to higher up. ""', 'I just want a conversation with Nike.""', 'British Paralympic athlete Sophie Kamlish also feels ""companies should do more"". ""', 'Nike are using the image of inclusion, which is really cool.', 'You wouldn\'t have seen that a few years ago, but they\'re not being as helpful when it comes to buying one shoe,"" the 27-year-old tells Newsbeat.', 'Sprinter Sophie has competed in T44 events and represented Great Britain at London 2012 and Rio 2016. ""', 'It\'s irritating and annoying because I\'ve got these perfectly good shoes just hanging around my house that I have to throw in the bin, or not use at all,"" she says.', 'Sophie, who lives in Bath, says she\'s ""been very lucky"" to find a shoe-swap partner with someone who had an opposite side amputation. ""', 'But it\'s quite a rarity to be able to find that sole-mate,"" she says.', 'Josephine Bridges, founder of charity Positive Bones, adds that one-shoe could benefit everyone, including people who aren\'t amputees. ""', 'There are people who have shoe sizes that are slightly different on each foot.', 'And so if we\'re able to buy one shoe, there\'s a real benefit there. ""', 'Sometimes you have one shoe that wears out much faster than the other. ""', 'It could mean that people could be less wasteful by getting that one shoe replacement.""', 'Josephine had her amputation in 2018, and agrees ""more representation"" is a good thing.', 'But when it\'s not followed up with actions, ""it can it can kind of cut a bit in the gut,"" she says.', 'Stef feels it\'s not a case of companies being ""intentionally non-inclusive"", but more a case of ""nobody\'s asked the question"". ""', 'Often I think it\'s an oversight,"" she says. ""', 'I don\'t have an expectation that every company is going to cater to me as an amputee, at a financial loss to them. ""', 'But diverse and inclusive thinking can lead to a better way of doing business.""', 'In a TikTok video, Stef, who won T44 bronze in 2008 when previously representing Canada, also spoke about other companies - Decathlon and Brooks Running - having similar policies.', 'Brooks told Newsbeat it\'s ""a brand that believes in the power of a diverse running community"" and was ""looking into solutions to fill"" requests for single shoes.', ""Decathlon has not yet responded to Newsbeat's request for comment."", 'Listen to Newsbeat live at 12:45 and 17:45 weekdays - or listen back here.']",0.1763248509767725,"Josephine Bridges, founder of charity Positive Bones, adds that one-shoe could benefit everyone, including people who aren't amputees. ""","Stef, who has competed at Beijing 2008, London 2012 and Rio 2016, lost part of her right leg in an accident when she was a teenager.",0.2441350519657135,"And so if we're able to buy one shoe, there's a real benefit there. ""","You wouldn't have seen that a few years ago, but they're not being as helpful when it comes to buying one shoe,"" the 27-year-old tells Newsbeat.",2024-04-12 -Post Office scandal explained: What the Horizon saga is all about,https://www.bbc.co.uk/news/business-56718036,2021-04-21T23:08:36.000Z,"New legislation will clear and compensate sub-postmasters who were the victims of what has been called the UK's most widespread miscarriage of justice. Hundreds were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts. More than 900 sub-postmasters were wrongly prosecuted for stealing because of incorrect information from a computer system called Horizon. The Post Office itself took many cases to court, prosecuting 700 people between 1999 and 2015. Another 283 cases were brought by other bodies, including the Crown Prosecution Service (CPS). Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined. In 2017, a group of 555 sub-postmasters took legal action against the Post Office. In 2019, it agreed to pay them £58m in compensation, but much of the money went on legal fees. A draft report uncovered by the BBC showed the Post Office spent £100m fighting the group in court despite knowing its defence was untrue. The Post Office said it would be ""inappropriate"" to comment on the report. Although campaigners won the right for their cases to be reconsidered, only 95 convictions had been overturned by mid-January 2024. The Criminal Cases Review Commission said the scandal was ""the most widespread miscarriage of justice"" it had seen. The Metropolitan Police is also investigating the Post Office over potential fraud offences. Horizon was developed by the Japanese company Fujitsu, for tasks such as accounting and stocktaking. It was introduced by the Post Office in 1999. Sub-postmasters quickly complained about bugs in the system after it falsely reported shortfalls - often for many thousands of pounds - but their concerns were dismissed. The Horizon system is still used by the Post Office, which describes the latest version as ""robust"". A public inquiry began in February 2021 and has heard evidence from Post Office and Fujitsu employees. It resumed on Tuesday 9 April, with campaigner Alan Bates the first to appear. This fifth phase of the inquiry is expected to last several weeks, with former Post Office chief executives Paula Vennells and Adam Crozier set to give evidence. The inquiry will also hear from Lord Arbuthnot, who is a member of the Horizon Compensation Advisory Board, as well as several politicians who have overseen the work of the Post Office. Mr Bates was the inspiration for the ITV drama series Mr Bates vs The Post Office, which was broadcast in January 2024. Days later, the government announced new plans to clear and compensate those affected. Mr Bates told the inquiry that the Post Office has spent 23 years trying to ""discredit and silence"" him. Many former sub-postmasters and sub-postmistresses say the scandal ruined their lives. Some used their own money to cover non-existent shortfalls because their contracts said they were responsible for unexplained losses. Many faced bankruptcy or lost their livelihoods. Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death. In January, the government said it would ""swiftly exonerate and compensate"" those affected. New legislation was introduced on 13 March to speed up clearing victims' names and paying compensation. The law, which applies to convictions in England and Wales, is expected to clear most victims by the end of July. Convictions will be automatically quashed if they were: The government said a new scheme will process compensation applications ""as soon as possible"" for those whose convictions are quashed. Affected sub-postmasters will receive an interim payment, or can instead accept a fixed and final offer of £600,000. Downing Street previously said it would work with Scotland and Northern Ireland to ensure people wrongly accused in those nations would also be cleared. Post Office Minister Kevin Hollinrake previously said the government has budgeted £1bn for compensation. More than 4,000 people were told they are eligible, under three schemes: Prof Chris Hodges, chair of the the independent Horizon Compensation Advisory Board, told the BBC that some individual compensation claims were ""well over £1m"". Former Post Office chief executive Ms Vennells resigned in 2019 over the scandal. In January 2024, she said she would hand back her CBE. In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry. Fujitsu Europe director Paul Patterson previously told the Post Office inquiry that the firm had a ""moral obligation"" to help fund compensation payments. Lib Dem leader Sir Ed Davey has been criticised for refusing to meet Mr Bates when he was postal affairs minister in May 2010. He says he was ""deeply misled by Post Office executives"". The BBC discovered that former Prime Minister David Cameron's government knew the Post Office had dropped a secret investigation that might have helped postmasters prove their innocence. Separately, Business Secretary Kemi Badenoch denied claims from former Post Office chairman Henry Staunton that he was told to delay compensation payments to allow the government to ""limp into the [next] election"". ",BBC,21/04/2021,"[""New legislation will clear and compensate sub-postmasters who were the victims of what has been called the UK's most widespread miscarriage of justice."", 'Hundreds were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts.', 'More than 900 sub-postmasters were wrongly prosecuted for stealing because of incorrect information from a computer system called Horizon.', 'The Post Office itself took many cases to court, prosecuting 700 people between 1999 and 2015.', 'Another 283 cases were brought by other bodies, including the Crown Prosecution Service (CPS).', 'Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined.', 'In 2017, a group of 555 sub-postmasters took legal action against the Post Office.', 'In 2019, it agreed to pay them £58m in compensation, but much of the money went on legal fees.', 'A draft report uncovered by the BBC showed the Post Office spent £100m fighting the group in court despite knowing its defence was untrue.', 'The Post Office said it would be ""inappropriate"" to comment on the report.', 'Although campaigners won the right for their cases to be reconsidered, only 95 convictions had been overturned by mid-January 2024.', 'The Criminal Cases Review Commission said the scandal was ""the most widespread miscarriage of justice"" it had seen.', 'The Metropolitan Police is also investigating the Post Office over potential fraud offences.', 'Horizon was developed by the Japanese company Fujitsu, for tasks such as accounting and stocktaking.', 'It was introduced by the Post Office in 1999.', 'Sub-postmasters quickly complained about bugs in the system after it falsely reported shortfalls - often for many thousands of pounds - but their concerns were dismissed.', 'The Horizon system is still used by the Post Office, which describes the latest version as ""robust"".', 'A public inquiry began in February 2021 and has heard evidence from Post Office and Fujitsu employees.', 'It resumed on Tuesday 9 April, with campaigner Alan Bates the first to appear.', 'This fifth phase of the inquiry is expected to last several weeks, with former Post Office chief executives Paula Vennells and Adam Crozier set to give evidence.', 'The inquiry will also hear from Lord Arbuthnot, who is a member of the Horizon Compensation Advisory Board, as well as several politicians who have overseen the work of the Post Office.', 'Mr Bates was the inspiration for the ITV drama series Mr Bates vs The Post Office, which was broadcast in January 2024.', 'Days later, the government announced new plans to clear and compensate those affected.', 'Mr Bates told the inquiry that the Post Office has spent 23 years trying to ""discredit and silence"" him.', 'Many former sub-postmasters and sub-postmistresses say the scandal ruined their lives.', 'Some used their own money to cover non-existent shortfalls because their contracts said they were responsible for unexplained losses.', 'Many faced bankruptcy or lost their livelihoods.', 'Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.', 'In January, the government said it would ""swiftly exonerate and compensate"" those affected.', ""New legislation was introduced on 13 March to speed up clearing victims' names and paying compensation."", 'The law, which applies to convictions in England and Wales, is expected to clear most victims by the end of July.', 'Convictions will be automatically quashed if they were: The government said a new scheme will process compensation applications ""as soon as possible"" for those whose convictions are quashed.', 'Affected sub-postmasters will receive an interim payment, or can instead accept a fixed and final offer of £600,000.', 'Downing Street previously said it would work with Scotland and Northern Ireland to ensure people wrongly accused in those nations would also be cleared.', 'Post Office Minister Kevin Hollinrake previously said the government has budgeted £1bn for compensation.', 'More than 4,000 people were told they are eligible, under three schemes: Prof Chris Hodges, chair of the the independent Horizon Compensation Advisory Board, told the BBC that some individual compensation claims were ""well over £1m"".', 'Former Post Office chief executive Ms Vennells resigned in 2019 over the scandal.', 'In January 2024, she said she would hand back her CBE.', 'In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.', 'Fujitsu Europe director Paul Patterson previously told the Post Office inquiry that the firm had a ""moral obligation"" to help fund compensation payments.', 'Lib Dem leader Sir Ed Davey has been criticised for refusing to meet Mr Bates when he was postal affairs minister in May 2010.', 'He says he was ""deeply misled by Post Office executives"".', ""The BBC discovered that former Prime Minister David Cameron's government knew the Post Office had dropped a secret investigation that might have helped postmasters prove their innocence."", 'Separately, Business Secretary Kemi Badenoch denied claims from former Post Office chairman Henry Staunton that he was told to delay compensation payments to allow the government to ""limp into the [next] election"".']",-0.0503384031934611,"In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",-0.7225653827190399,"In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",2024-04-12 -Nike CEO says focus on its own website and stores went too far as it embraces wholesale retailers again,https://www.cnbc.com/2024/04/12/nike-ceo-acknowledges-it-went-too-far-in-direct-push.html,2024-04-12T18:55:19+0000,"In this articleNike CEO John Donahoe acknowledged Friday that the company moved too far away from wholesale partners like Macy's and DSW in its quest to become a retailer that primarily sells merchandise to shoppers through its own stores and website. ""We recognize that in our movement toward digital, we had over-rotated away from wholesale a little more than we intended,"" Donahoe told CNBC's Sara Eisen from Paris. ""We've corrected that. We're investing heavily with our retail partners. They were all here over the last couple of days; they're very excited about the innovation pipeline."" Over the past several years, Nike has worked to transform its business from a brand that primarily sold its sneakers and clothes in department stores and specialty athletic shops to one that does the bulk of its sales direct to consumers. The strategy allowed Nike to earn far more from its sales and gain better insights about its customers through data collection. Over the last four years, Donahoe said Nike tripled its mobile and digital business from about 10% of overall sales to 30%.However, it's a tough strategy to pull off and one that can pressure margins in the short term. Shifting to a direct model is capital-intensive and saddled Nike with the headaches of returns and owned inventory, which had typically fallen on wholesale partners.On top of that, department stores and specialty shops are massive customer acquisition engines. Without them, brands have to spend more on marketing, which has become more expensive and challenging to do online. Some analysts have said Nike's decision to shun wholesale partners was a mistake. They argued it set the company back and is part of the reason why it fell behind on innovation and products. It also had a negative impact on Foot Locker, which has long relied on Nike to drive sales and now doesn't receive the same assortment of products that it once did. In its push toward a direct model, Nike temporarily cut ties with retailers like Macy's and DSW, but it restored those partnerships last year as it began to shift its tone on wholesalers. The change comes at a difficult time for Nike, which has faced criticism over its product assortment and losing market share to upstarts like On Running and Hoka. In December, it announced a broad restructuring plan to reduce costs by about $2 billion over the next three years. It also cut its sales guidance as it warned of softer demand in the quarters ahead. Two months later, Nike said it was shedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand.During Friday's interview, Donahoe reiterated that consumers today ""want to get what they want, when they want it, how they want it"" — a refrain he has used over the past year when discussing Nike's shifting sales strategy. ""There's not digital shoppers versus physical retail shoppers. There's not shoppers who only shop in mono-brand stores versus multibrand shoppers,"" Donahoe said. ""Consumers want to get what they want across multiple channels. … The consumer will have a choice to come to Nike directly digitally, to come to a Nike door or to go to one of our wholesale [partners].""",CNBC,12/04/2024,"[""In this articleNike CEO John Donahoe acknowledged Friday that the company moved too far away from wholesale partners like Macy's and DSW in its quest to become a retailer that primarily sells merchandise to shoppers through its own stores and website."", '""We recognize that in our movement toward digital, we had over-rotated away from wholesale a little more than we intended,"" Donahoe told CNBC\'s Sara Eisen from Paris.', '""We\'ve corrected that.', ""We're investing heavily with our retail partners."", ""They were all here over the last couple of days; they're very excited about the innovation pipeline."", '""Over the past several years, Nike has worked to transform its business from a brand that primarily sold its sneakers and clothes in department stores and specialty athletic shops to one that does the bulk of its sales direct to consumers.', 'The strategy allowed Nike to earn far more from its sales and gain better insights about its customers through data collection.', ""Over the last four years, Donahoe said Nike tripled its mobile and digital business from about 10% of overall sales to 30%.However, it's a tough strategy to pull off and one that can pressure margins in the short term."", 'Shifting to a direct model is capital-intensive and saddled Nike with the headaches of returns and owned inventory, which had typically fallen on wholesale partners.', 'On top of that, department stores and specialty shops are massive customer acquisition engines.', 'Without them, brands have to spend more on marketing, which has become more expensive and challenging to do online.', ""Some analysts have said Nike's decision to shun wholesale partners was a mistake."", 'They argued it set the company back and is part of the reason why it fell behind on innovation and products.', ""It also had a negative impact on Foot Locker, which has long relied on Nike to drive sales and now doesn't receive the same assortment of products that it once did."", ""In its push toward a direct model, Nike temporarily cut ties with retailers like Macy's and DSW, but it restored those partnerships last year as it began to shift its tone on wholesalers."", 'The change comes at a difficult time for Nike, which has faced criticism over its product assortment and losing market share to upstarts like On Running and Hoka.', 'In December, it announced abroad restructuring planto reduce costs by about $2 billion over the next three years.', 'It also cut its sales guidance as it warned of softer demand in the quarters ahead.', ""Two months later, Nike said it wasshedding 2% of its workforce, or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand."", 'During Friday\'s interview, Donahoe reiterated that consumers today ""want to get what they want, when they want it, how they want it"" — a refrain he has used over the past year when discussing Nike\'s shifting sales strategy.', '""There\'s not digital shoppers versus physical retail shoppers.', 'There\'s not shoppers who only shop in mono-brand stores versus multibrand shoppers,"" Donahoe said. ""', 'Consumers want to get what they want across multiple channels. …', 'The consumer will have a choice to come to Nike directly digitally, to come to a Nike door or to go to one of our wholesale [partners].""']",0.03257427102528,The strategy allowed Nike to earn far more from its sales and gain better insights about its customers through data collection.,"It also had a negative impact on Foot Locker, which has long relied on Nike to drive sales and now doesn't receive the same assortment of products that it once did.",-0.1553886532783508,The strategy allowed Nike to earn far more from its sales and gain better insights about its customers through data collection.,It also cut its sales guidance as it warned of softer demand in the quarters ahead.,2024-04-12 -"Goldman Sachs promotes head of strategy and investor relations, Carey Halio, to global treasurer",https://www.cnbc.com/2024/04/11/goldman-sachs-promotes-carey-halio-to-global-treasurer.html,2024-04-11T15:17:54+0000,"In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter. Her new role, effective June 1, encompasses authority over the firm's more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm's liquidity, funding and capital. She will report to Denis Coleman, Goldman Sachs' chief financial officer. Philip Berlinski, the previous global treasurer, is leaving the bank to become co-chief operating officer of Millennium Management, a $62 billion hedge fund, according to the Financial Times. As part of her new role, Halio will oversee a team of about 900 people, the people familiar said. She will also serve on the management committee.""As a tenured leader of the firm with experience working in several of our divisions and partnering with leaders across the organization to drive our strategic priorities forward, Carey will bring important expertise and perspectives to her new role,"" Goldman Sachs CEO David Solomon said in a memo, obtained by CNBC. ""Carey will continue to oversee our Firmwide Strategy team on an interim basis.""Before running strategy and investor relations, Halio was the CEO of Goldman Sachs Bank USA and deputy treasurer of Goldman Sachs. She joined the firm in 1999 as a summer associate in credit risk and rejoined the following year, ultimately becoming the head of the Americas Financial Institutions team in credit risk. Jehan Ilahi, who worked with Halio for years in strategy and investor relations, will become head of investor relations. Goldman Sachs is slated to report first-quarter earnings Monday.",CNBC,11/04/2024,"[""In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter."", ""Her new role, effective June 1, encompasses authority over the firm's more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm's liquidity, funding and capital."", ""She will report to Denis Coleman, Goldman Sachs' chief financial officer."", 'Philip Berlinski, the previous global treasurer, is leaving the bank to become co-chief operating officer of Millennium Management, a $62 billion hedge fund, according to the Financial Times.', 'As part of her new role, Halio will oversee a team of about 900 people, the people familiar said.', 'She will also serve on the management committee.', '""As a tenured leader of the firm with experience working in several of our divisions and partnering with leaders across the organization to drive our strategic priorities forward, Carey will bring important expertise and perspectives to her new role,"" Goldman Sachs CEO David Solomon said in a memo, obtained by CNBC. ""', 'Carey will continue to oversee our Firmwide Strategy team on an interim basis.', '""Before running strategy and investor relations, Halio was the CEO of Goldman Sachs Bank USA and deputy treasurer of Goldman Sachs.', 'She joined the firm in 1999 as a summer associate in credit risk and rejoined the following year, ultimately becoming the head of the Americas Financial Institutions team in credit risk.', 'Jehan Ilahi, who worked with Halio for years in strategy and investor relations, will become head of investor relations.', 'Goldman Sachs is slated to report first-quarter earnings Monday.']",0.1468204608308511,"In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter.",,0.9427096843719482,"In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter.",,2024-04-12 -"Former Bowlero exec says company threatened to report him to FBI in proposed extortion, retaliation suit",https://www.cnbc.com/2024/04/09/former-bowlero-exec-says-company-threatened-to-report-him-to-fbi.html,2024-04-09T19:02:18+0000,"In this articleA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversation filed in court.The allegations by Bowlero's former chief information officer, Thomas Tanase, filed Wednesday in a proposed countersuit in Virginia federal court, come after he and dozens of others filed discrimination claims with the U.S. Equal Employment Opportunity Commission alleging they were fired based on their age or out of retaliation, according to company securities filings and the proposed countersuit. Bowlero denies the claims.The company, which went public in late 2021 through a special purpose acquisition company, or SPAC, was among the select successful stocks to emerge from the SPAC boom. It owns two of the biggest brands in bowling — AMF and Lucky Strike — and operated more than 300 bowling centers across North America as of July. Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.Tanase started with the company's information technology department in 2001 before climbing his way up to the C-suite, where he worked closely with the company's CEO and frequently had access to sensitive information contained in the CEO's email accounts, he said in court filings. He says the company fired him in May because of his age, and in August, he filed a discrimination claim with the EEOC, according to a copy of the claim, which was included as an exhibit to the proposed countersuit.Bowlero says that Tanase resigned and then had a change of heart when he realized he wouldn't get severance pay. In July, the company sued him, alleging he hacked into the email account of CEO Thomas Shannon, copied company documents onto a personal USB drive and refused to hand over his company-issued devices. Tanase denies the claims.Now, Tanase is seeking the court's permission to countersue Bowlero and the company's executive vice chairman, Brett Parker. Federal rules require Tanase to get permission to countersue given the timing of the filings.In the proposed countersuit, Tanase alleges that Parker threatened to report him to the FBI if he didn't admit to accessing Shannon's emails and ""come clean"" about information he shared with Daniel Dowe, the attorney representing the EEOC complainants, and with CNBC, which has previously written about the discrimination allegations against Bowlero. During a March deposition, Tanase testified that he hadn't spoken with CNBC, or any other media outlet, about the company.In a phone conversation between Tanase and Parker that Tanase recorded in June 2023, Bowlero's vice chairman and former finance chief allegedly asked Tanase numerous times to reveal what he'd said and told him that if he did, all would be forgiven, according to a transcript attached as an exhibit to the proposed counterclaim.""If you come clean there is a path where you are our friend ... You tell us everything that's transpired ... You tell us everything you know about Dowe everything that's ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.""Then there can be a number and there can be a go away and we can move on. But we have to get the truth and full clarity,"" Parker said, according to the transcript. ""You can ... Fall back into our good graces and be our friend in this matter and you will get paid to do that, but it has to start with the truth.""According to the transcript, Parker told Tanase if he explained everything and shared what information he had disclosed, the company could give him a ""severance,"" but ""you really don't want this to start with the police."" ""I'm not going to be able to fight this internally, and you're going to be trying to explain to the FBI that some device did this and I don't want you to be in that position,"" Parker said, according to the transcript. ""You gotta help me help you,"" he added.In response, Tanase repeatedly told Parker he didn't share any information with anyone and had been in the hospital when Shannon's email account was allegedly breached, according to the transcript. As Bowlero's former CIO, he previously had access to the CEO's account and said it may have still been logged in on another device.  ""I haven't done anything illegal ... I haven't done anything malicious either. I haven't talked to anything or given out any information to anybody. I've told you this before,"" said Tanase, according to the transcript.  Bowlero said the transcript simply shows the company trying to extend an ""olive branch"" to Tanase if he were to confess to the hacking allegations. ""Far from wrongfully seeking to obtain a benefit from Tanase, Mr. Parker ... acknowledges that he is 'trying to help.' These are all actions which, in the face of Tanase's hacking of Bowlero computer systems, neither Bowlero nor Mr. Parker were required to do,"" Bowlero said in filings.  ""Indeed, what Tanase suggests is 'extortion' is obviously no such thing. Hence, even if Tanase had a private right of action for an extortion claim, the elements of such a claim are not met here,"" the company said.Tanase further alleges that Bowlero's suit against him was brought in retaliation for his refusal to sign a termination agreement that required him to waive his right to pursue legal action against the company. He also claims Bowlero sued him to deter him from filing a complaint with the EEOC or serving as a witness in its investigation into Bowlero.Tanase's attorneys are seeking around $8 million in damages from Bowlero on the extortion claim and more than $27 million on the retaliation claim.Late Thursday, Bowlero asked the judge overseeing the case to deny the request to countersue and to sanction Tanase by either issuing a default judgment in the company's favor or precluding Tanase from further testimony. In court filings, the company said Tanase admitted he misstated facts in an earlier court affidavit, which he later corrected, and pointed out that he has hired at least three different law firms since the onset of the case.""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions. Bowlero's attorney Alex Spiro at law firm Quinn Emanuel, who has also represented A-listers such as Elon Musk and Alec Baldwin, said in a statement to CNBC Tanase ""will lose"" his request to file a countersuit, and that it ""is almost certainly going to be denied."" ""Mr. Tanase is now seeking the court's permission to file baseless counterclaims against Bowlero, five months after the deadline and five days before fact discovery will close. This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.""His counterclaims are completely frivolous and we are seeking fees for responding to his motion,"" he said.In response, Tanase's attorney Scott Pickus told CNBC if the court doesn't permit Tanase to move forward with his counterclaim in the case, the suit can and ""likely will"" be filed as a new action. He said he ""very much"" disagrees that the assertions made in the proposed counterclaim are frivolous. He said he won't comment on remarks Tanase made about misstating facts.""Suffice it to say that we disagree with Bowlero's interpretation of the law, disagree with Bowlero's recitation of the facts, and look forward to the trial of this matter,"" Pickus said.Bowlero has been embroiled in an EEOC investigation since 2016 involving more than 70 former employees who claim they were unlawfully fired. They allege that Bowlero fired them for being too old as it worked to transform its hundreds of locations from what the company has referred to as ""dingy"" bowling alleys to upmarket experiences with elevated food and drink offerings. Complaints and an affidavit filed by three former employees, including Tanase, say Shannon hosted ""beauty contests"" with prospective hires over brief video calls to evaluate a candidate's appearance as part of the hiring process. Tanase's complaint accused Shannon of making ""racial and especially inappropriate 'blonde women' jokes"" and ""always treated wom[e]n as an inferior class to men."" Tanase also alleged that the company's policies banning Timberland boots and ball caps worn backward were ""designed to deter African American males from using"" the company's bowling centers.The EEOC has found reasonable cause in the majority of the complaints brought against Bowlero, including Tanase's, while the rest remain under investigation, according to Tanase's complaint and company reports. When the EEOC finds reasonable cause in a complaint, it means it believes discrimination occurred.The EEOC previously tried to settle the complaints with Bowlero for $60 million in January 2023, but those efforts failed last April, CNBC previously reported. The agency now has the ability to file a federal lawsuit against the company, but it's unclear if it will. Before the agency can sue Bowlero in federal court, the EEOC's commissioners need to vote on the matter. Spiro, Bowlero's attorney, told CNBC the employment discrimination claims ""are without merit.""""The so-called eeoc issues are age based discrimination claims, some of which date back to nearly a decade ago and no civil nor eeoc suit has ever even occurred with respect to those claims,"" Spiro wrote in an email. Pickus, Tanase's attorney, said the EEOC's reasonable cause findings that Bowlero engaged in discriminatory practices dating back to 2013 ""would seem to belie Mr. Spiro's assertions"" that his client's counterclaims are ""frivolous.""""Those findings by the EEOC may well be why Bowlero has sued Mr. Tanase. Bowlero's actions remind me of a sports cliche: the best defense is a good offense,"" Pickus added.""We look forward to proving both claims,"" he said.Still at issue is whether Tanase resigned or was fired from his position — a dispute that's at the center of Bowlero's lawsuit, Tanase's proposed countersuit and his EEOC claim, which are all separate but related actions.In the leadup to his separation from Bowlero, Tanase said, the company began micromanaging him and harassing him by closely supervising his work so they could find a reason to fire him — a process he described as ""managing out,"" according to his EEOC complaint and proposed counterclaim. ""Although Tanase suspected for several months that his employment might be in jeopardy, at no time did he seek to secure confidential information, remove property, or engage in any other self-serving conduct while having full access to Bowlero's offices, office files, and computer servers,"" Tanase's attorneys wrote in the proposed counterclaim.In the EEOC's determination letter ruling that Tanase's claims of age discrimination had cause, Director Rosemarie Rhodes wrote that the conduct of Tanase's then-supervisor, current Bowlero President Lev Ekster, ""included unwarranted hostility, frequent criticism, unnecessary correction of his work, and undermining his authority and role vis-a-vis subordinates and vendors."" Bowlero alleged that following Tanase's separation from the company, he vowed to get ""revenge"" on his former employer and ""bury"" its CEO, according to its lawsuit against Tanase. The company alleged in its suit that Tanase told Bowlero Vice President of Human Resources Heather Webb that he had spoken with CNBC and several lawyers, including Dowe, about the company.""Mr. Tanase said he would 'walk away', which Ms. Webb understood to mean that he would no longer attempt to seek revenge or retribution on Bowlero or Mr. Shannon, if Bowlero were to pay him a $1.2 million 'severance' payment. Bowlero refused to make the payment,"" Bowlero's lawsuit said. Tanase denies the claims.",CNBC,09/04/2024,"[""In this articleA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversationfiled in court."", ""The allegations by Bowlero's former chief information officer, Thomas Tanase, filed Wednesday in a proposed countersuit in Virginia federal court, come after he and dozens of others filed discrimination claims with the U.S. Equal Employment Opportunity Commission alleging they were fired based on their age or out of retaliation, according to company securities filings and the proposed countersuit."", 'Bowlero denies the claims.', 'The company, which went public in late 2021 through a special purpose acquisition company, or SPAC, was among the select successful stocks to emerge from the SPAC boom.', 'It owns two of the biggest brands in bowling — AMF and Lucky Strike — and operated more than 300 bowling centers across North America as of July.', 'Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.', ""Tanase started with the company's information technology department in 2001 beforeclimbing his way up to the C-suite, where he worked closely with the company's CEO and frequently had access to sensitive information contained in the CEO's email accounts, he said in court filings."", 'He says the company fired him in May because of his age, and in August, he filed a discrimination claim with the EEOC, according to a copy of the claim, which was included as an exhibit to the proposed countersuit.', ""Bowlero says that Tanase resigned and then had a change of heart when he realized he wouldn't get severance pay."", 'In July, the company sued him, alleging he hacked into the email account of CEO Thomas Shannon, copied company documents onto a personal USB drive and refused to hand over his company-issued devices.', 'Tanase denies the claims.', ""Now, Tanase is seeking the court's permission to countersue Bowlero and the company's executive vice chairman, Brett Parker."", 'Federal rules require Tanase to get permission to countersue given the timing of the filings.', 'In the proposed countersuit, Tanase alleges that Parker threatened to report him to the FBI if he didn\'t admit to accessing Shannon\'s emails and ""come clean"" about information he shared with Daniel Dowe, the attorney representing the EEOC complainants, and with CNBC, which has previously written about the discrimination allegations against Bowlero.', ""During a March deposition, Tanase testified that he hadn't spoken with CNBC, or any other media outlet, about the company."", ""In a phone conversation between Tanase and Parker that Tanase recorded in June 2023, Bowlero's vice chairman and former finance chief allegedly asked Tanase numerous times to reveal what he'd said and told him that if he did, all would be forgiven, according to a transcript attached as an exhibit to the proposed counterclaim."", '""If you come clean there is a path where you are our friend ... You tell us everything that\'s transpired ... You tell us everything you know about Dowe everything that\'s ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.', '""Then there can be a number and there can be a go away and we can move on.', 'But we have to get the truth and full clarity,"" Parker said, according to the transcript.', '""You can ... Fall back into our good graces and be our friend in this matter and you will get paid to do that, but it has to start with the truth.', '""According to the transcript, Parker told Tanase if he explained everything and shared what information he had disclosed, the company could give him a ""severance,"" but ""you really don\'t want this to start with the police.', '""""I\'m not going to be able to fight this internally, and you\'re going to be trying to explain to the FBI that some device did this and I don\'t want you to be in that position,"" Parker said, according to the transcript.', '""You gotta help me help you,"" he added.', ""In response, Tanase repeatedly told Parker he didn't share any information with anyone and had been in the hospital when Shannon's email account was allegedly breached, according to the transcript."", 'As Bowlero\'s former CIO, he previously had access to the CEO\'s account and said it may have still been logged in on another device. ""', ""I haven't done anything illegal ... I haven't done anything malicious either."", ""I haven't talked to anything or given out any information to anybody."", 'I\'ve told you this before,"" said Tanase, according to the transcript.', 'Bowlero said the transcript simply shows the company trying to extend an ""olive branch"" to Tanase if he were to confess to the hacking allegations.', '""Far from wrongfully seeking to obtain a benefit from Tanase, Mr. Parker ... acknowledges that he is \'trying to help.\'', 'These are all actions which, in the face of Tanase\'s hacking of Bowlero computer systems, neither Bowlero nor Mr. Parker were required to do,"" Bowlero said in filings.', '""Indeed, what Tanase suggests is \'extortion\' is obviously no such thing.', 'Hence, even if Tanase had a private right of action for an extortion claim, the elements of such a claim are not met here,"" the company said.', ""Tanase further alleges that Bowlero's suit against him was brought in retaliation for his refusal to sign a termination agreement that required him to waive his right to pursue legal action against the company."", 'He also claims Bowlero sued him to deter him from filing a complaint with the EEOC or serving as a witness in its investigation into Bowlero.', ""Tanase's attorneys are seeking around $8 million in damages from Bowlero on the extortion claim and more than $27 million on the retaliation claim."", ""Late Thursday, Bowlero asked the judge overseeing the case to deny the request to countersue and to sanction Tanase by either issuing a default judgment in the company's favor or precluding Tanase from further testimony."", 'In court filings, the company said Tanase admitted he misstated facts in an earlier court affidavit, which he later corrected, and pointed out that he has hired at least three different law firms since the onset of the case.', '""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions.', 'Bowlero\'s attorney Alex Spiro at law firm Quinn Emanuel, who has also represented A-listers such as Elon Musk and Alec Baldwin, said in a statement to CNBC Tanase ""will lose"" his request to file a countersuit, and that it ""is almost certainly going to be denied.', '""""Mr.', ""Tanase is now seeking the court's permission to file baseless counterclaims against Bowlero, five months after the deadline and five days before fact discovery will close."", 'This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.', '""His counterclaims are completely frivolous and we are seeking fees for responding to his motion,"" he said.', 'In response, Tanase\'s attorney Scott Pickus told CNBC if the court doesn\'t permit Tanase to move forward with his counterclaim in the case, the suit can and ""likely will"" be filed as a new action.', 'He said he ""very much"" disagrees that the assertions made in the proposed counterclaim are frivolous.', ""He said he won't comment on remarks Tanase made about misstating facts."", '""Suffice it to say that we disagree with Bowlero\'s interpretation of the law, disagree with Bowlero\'s recitation of the facts, and look forward to the trial of this matter,"" Pickus said.', 'Bowlero has been embroiled in an EEOC investigation since 2016 involving more than 70 former employees who claim they were unlawfully fired.', 'They allege that Bowlero fired them for being too old as it worked to transform its hundreds of locations from what the company has referred to as ""dingy"" bowling alleys to upmarket experiences with elevated food and drink offerings.', 'Complaints and an affidavit filed by three former employees, including Tanase, say Shannon hosted ""beauty contests"" with prospective hires over brief video calls to evaluate a candidate\'s appearance as part of the hiring process.', 'Tanase\'s complaint accused Shannon of making ""racial and especially inappropriate \'blonde women\' jokes"" and ""always treated wom[e]n as an inferior class to men.""', 'Tanase also alleged that the company\'s policies banning Timberland boots and ball caps worn backward were ""designed to deter African American males from using"" the company\'s bowling centers.', ""The EEOC has found reasonable cause in the majority of the complaints brought against Bowlero, including Tanase's, while the rest remain under investigation, according to Tanase's complaint and company reports."", 'When the EEOC finds reasonable cause in a complaint, it means it believes discrimination occurred.', 'The EEOC previously tried to settle the complaints with Bowlero for $60 million in January 2023, but those efforts failed last April, CNBC previously reported.', ""The agency now has the ability to file a federal lawsuit against the company, but it's unclear if it will."", ""Before the agency can sue Bowlero in federal court, the EEOC's commissioners need to vote on the matter."", 'Spiro, Bowlero\'s attorney, told CNBC the employment discrimination claims ""are without merit.', '""""The so-called eeoc issues are age based discrimination claims, some of which date back to nearly a decade ago and no civil nor eeoc suit has ever even occurred with respect to those claims,"" Spiro wrote in an email.', 'Pickus, Tanase\'s attorney, said the EEOC\'s reasonable cause findings that Bowlero engaged in discriminatory practices dating back to 2013 ""would seem to belie Mr. Spiro\'s assertions"" that his client\'s counterclaims are ""frivolous.', '""""Those findings by the EEOC may well be why Bowlero has sued Mr. Tanase.', 'Bowlero\'s actions remind me of a sports cliche: the best defense is a good offense,"" Pickus added.', '""We look forward to proving both claims,"" he said.', ""Still at issue is whether Tanase resigned or was fired from his position — a dispute that's at the center of Bowlero's lawsuit, Tanase's proposed countersuit and his EEOC claim, which are all separate but related actions."", 'In the leadup to his separation from Bowlero, Tanase said, the company began micromanaging him and harassing him by closely supervising his work so they could find a reason to fire him — a process he described as ""managing out,"" according to his EEOC complaint and proposed counterclaim.', '""Although Tanase suspected for several months that his employment might be in jeopardy, at no time did he seek to secure confidential information, remove property, or engage in any other self-serving conduct while having full access to Bowlero\'s offices, office files, and computer servers,"" Tanase\'s attorneys wrote in the proposed counterclaim.', 'In the EEOC\'s determination letter ruling that Tanase\'s claims of age discrimination had cause, Director Rosemarie Rhodes wrote that the conduct of Tanase\'s then-supervisor, current Bowlero President Lev Ekster, ""included unwarranted hostility, frequent criticism, unnecessary correction of his work, and undermining his authority and role vis-a-vis subordinates and vendors.', '""Bowlero alleged that following Tanase\'s separation from the company, he vowed to get ""revenge"" on his former employer and ""bury"" its CEO, according to its lawsuit against Tanase.', 'The company alleged in its suit that Tanase told Bowlero Vice President of Human Resources Heather Webb that he had spoken with CNBC and several lawyers, including Dowe, about the company.', '""Mr.', ""Tanase said he would 'walk away', which Ms. Webb understood to mean that he would no longer attempt to seek revenge or retribution on Bowlero or Mr. Shannon, if Bowlero were to pay him a $1.2 million 'severance' payment."", 'Bowlero refused to make the payment,"" Bowlero\'s lawsuit said.', 'Tanase denies the claims.']",-0.0728504854179812,"""If you come clean there is a path where you are our friend ... You tell us everything that's transpired ... You tell us everything you know about Dowe everything that's ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.","This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.",-0.2596658955920826,"Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.","""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions.",2024-04-12 -"Boulder, a natural food haven, fosters a new generation of wellness entrepreneurs",https://www.cnbc.com/2024/04/09/boulder-colorado-fosters-a-new-generation-of-wellness-entrepreneurs.html,2024-04-12T14:30:15+0000,"This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.Nestled against the Rocky Mountains, Boulder, Colorado, has blossomed into a thriving hub for the natural products and wellness industry. Here, companies generate billions in revenue, all stemming from a deep appreciation for entrepreneurship, the outdoors and healthy living.The industry's roots trace back to local hikers who, in 1969, hand-picked wild herbs on the foothills of the Rockies, inspiring the creation of tea company Celestial Seasonings, a pioneer of the natural foods movement, according to a local industry group. The tea company was later acquired by Hain Food Group — now Hain Celestial Group — in 2000 for $390 million. ""This [region] is the epicenter of natural and organic,"" Hain Celestial Group President and CEO Wendy Davidson told CNBC in a recent interview for the upcoming primetime special ""Cities of Success,"" which airs April 11 at 10 p.m. EDT. ""If you want to drive growth, if you want to be in the industry in an authentic way, Boulder is the place to be.""Today, Celestial Seasonings, still headquartered in Boulder, brews over 1.6 billion cups of tea annually, with sales exceeding $150 million. Its success story serves as an inspiration for countless entrepreneurs in the area.""It's the people. It's the environment – the entrepreneurial environment and the focus on natural and organic and wellness has allowed us to scale and grow one of our largest and most profitable brands in the company,"" Davidson said.The Boulder region's emphasis on healthy living has fueled a booming industry, generating a whopping $2.1 billion annually for Colorado's economy, according to an October 2020 study by the Leeds School of Business at the University of Colorado Boulder. That contribution translates to over 22,000 jobs and a significant impact on production, supply chains and consumer spending, according to the study.The Boulder County Farmers Market, a vibrant incubator since 1987, exemplifies the region's thriving ecosystem.From April to November, the market transforms into a testing ground for aspiring food entrepreneurs. Over 100 small businesses showcase their products to a hungry crowd of 100,000 shoppers annually. Sales at the market have skyrocketed 400% since 2013, reaching a cool $5.7 million in 2023, according to the nonprofit organization Behind the Markets.It's also here that a simple jar of nut butter can become pure gold.In 2004, Justin Gold, armed with his homemade peanut and almond butters, started ""slinging jars"" to the local Boulder community at the farmers market. What began as free samples quickly grew into a hit product. The unique, all-natural flavors resonated with health-conscious consumers, and jars of Justin's, as they were branded, became a familiar sight at the market.But this wasn't enough for Gold — he ultimately leveraged his popularity to convince local retailers to stock his brand on their shelves. Slowly but surely, the business grew, eventually culminating in a landmark deal with Whole Foods. Justin's products can now be found at health stores and coffee shops across the country.""What we accomplished just blew out my wildest dreams,"" Gold told CNBC.The journey from a single farmer's market stall to a $281 million sale to Hormel Foods in 2016 is a testament to both Gold's vision and the unique environment that Boulder fosters. Gold said the city's vibrant community of entrepreneurs, its focus on health and wellness, and the beautiful natural surroundings are the key ingredients of his success story.""Everybody here is up to something really interesting,"" he said. ""You don't have to be in an office environment to be creative, you can be outside. And I think the confluence of all these great things breed some really extraordinary outcomes.""Inspired by Gold's success, Juan Stewart launched his Latin American sparkling fruit drink, Frescos Naturales, at the Boulder County Farmers Market in 2021. Stewart quickly recognized the market's power, calling it ""the hub of the natural food industry"" where many brands have achieved national success.His gamble paid off. Within its first year, Frescos raked in over $40,000 in sales and secured a distribution deal with grocery chain Kroger. ""I was very lucky to be in Boulder when I launched this brand,"" Stewart reflected.Naturally Boulder, a group founded in 2005, is proving to be a breeding ground for success in the natural and organic food industry. By supporting entrepreneurs and connecting startups with local investors, the group has fostered a powerful cluster of companies that's attracting businesses from across the country.""Companies that started here, like a Celestial [Seasonings] they had success. So other people started coming here,"" said Kristine Carey, executive director at Naturally Boulder. ""Companies are still moving here... there's a resurgence of energy.""This energy is evident in the story of Kristy Lewis, founder of Quinn Snacks. In 2010, Lewis built her business to $2 million in sales just outside Boston, but to reach the next level, she knew she needed to make a big move.""I had this gut feeling that if we were going to be truly successful, that we had to be in Boulder,"" Lewis said.After that move 10 years ago, Lewis saw her brand explode. Quinn Snacks' annual sales, she says, are now north of $30 million.""I definitely don't think we would have succeeded without this group of people backing us,"" Lewis said, referring to the Boulder community. ""We knew it was exactly where we needed to be.""Correction: This article has been updated to reflect the final purchase price of Justin's Nut Butter by Hormel Foods. It was $281 million.",CNBC,12/04/2024,"[""This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", 'Nestled against the Rocky Mountains, Boulder, Colorado, has blossomed into a thriving hub for the natural products and wellness industry.', 'Here, companies generate billions in revenue, all stemming from a deep appreciation for entrepreneurship, the outdoors and healthy living.', ""The industry's roots trace back to local hikers who, in 1969, hand-picked wild herbs on the foothills of the Rockies, inspiring the creation of tea company Celestial Seasonings, a pioneer of the natural foods movement, according to a local industry group."", 'The tea company was later acquired by Hain Food Group — now Hain Celestial Group — in 2000 for $390 million.', '""This [region] is the epicenter of natural and organic,"" Hain Celestial Group President and CEO Wendy Davidson told CNBC in a recent interview for the upcoming primetime special ""Cities of Success,"" which airsApril 11 at 10 p.m. EDT. ""', 'If you want to drive growth, if you want to be in the industry in an authentic way, Boulder is the place to be.', '""Today, Celestial Seasonings, still headquartered in Boulder, brews over 1.6 billion cups of tea annually, with sales exceeding $150 million.', 'Its success story serves as an inspiration for countless entrepreneurs in the area.', '""It\'s the people.', 'It\'s the environment – the entrepreneurial environment and the focus on natural and organic and wellness has allowed us to scale and grow one of our largest and most profitable brands in the company,"" Davidson said.', ""The Boulder region's emphasis on healthy living has fueled a booming industry, generating a whopping $2.1 billion annually for Colorado's economy, according to an October 2020 study by the Leeds School of Business at the University of Colorado Boulder."", 'That contribution translates to over 22,000 jobs and a significant impact on production, supply chains and consumer spending, according to the study.', ""The Boulder County Farmers Market, a vibrant incubator since 1987, exemplifies the region's thriving ecosystem."", 'From April to November, the market transforms into a testing ground for aspiring food entrepreneurs.', 'Over 100 small businesses showcase their products to a hungry crowd of 100,000 shoppers annually.', 'Sales at the market have skyrocketed 400% since 2013, reaching a cool $5.7 million in 2023, according to the nonprofit organization Behind the Markets.', ""It's also here that a simple jar of nut butter can become pure gold."", 'In 2004, Justin Gold, armed with his homemade peanut and almond butters, started ""slinging jars"" to the local Boulder community at the farmers market.', 'What began as free samples quickly grew into a hit product.', ""The unique, all-natural flavors resonated with health-conscious consumers, and jars of Justin's, as they were branded, became a familiar sight at the market."", ""But this wasn't enough for Gold — he ultimately leveraged his popularity to convince local retailers to stock his brand on their shelves."", 'Slowly but surely, the business grew, eventually culminating in a landmark deal with Whole Foods.', ""Justin's products can now be found at health stores and coffee shops across the country."", '""What we accomplished just blew out my wildest dreams,"" Gold told CNBC.The journey from a single farmer\'s market stall to a $281 million sale to Hormel Foods in 2016 is a testament to both Gold\'s vision and the unique environment that Boulder fosters.', ""Gold said the city's vibrant community of entrepreneurs, its focus on health and wellness, and the beautiful natural surroundings are the key ingredients of his success story."", '""Everybody here is up to something really interesting,"" he said. ""', ""You don't have to be in an office environment to be creative, you can be outside."", 'And I think the confluence of all these great things breed some really extraordinary outcomes.', '""Inspired by Gold\'s success, Juan Stewart launched his Latin American sparkling fruit drink, Frescos Naturales, at the Boulder County Farmers Market in 2021.Stewart quickly recognized the market\'s power, calling it ""the hub of the natural food industry"" where many brands have achieved national success.', 'His gamble paid off.', 'Within its first year, Frescos raked in over $40,000 in sales and secured a distribution deal with grocery chain Kroger.', '""I was very lucky to be in Boulder when I launched this brand,"" Stewart reflected.', 'Naturally Boulder, a group founded in 2005, is proving to be a breeding ground for success in the natural and organic food industry.', ""By supporting entrepreneurs and connecting startups with local investors, the group has fostered a powerful cluster of companies that's attracting businesses from across the country."", '""Companies that started here, like a Celestial [Seasonings] they had success.', 'So other people started coming here,"" said Kristine Carey, executive director at Naturally Boulder. ""', ""Companies are still moving here... there's a resurgence of energy."", '""This energy is evident in the story of Kristy Lewis, founder of Quinn Snacks.', 'In 2010, Lewis built her business to $2 million in sales just outside Boston, but to reach the next level, she knew she needed to make a big move.', '""I had this gut feeling that if we were going to be truly successful, that we had to be in Boulder,"" Lewis said.', 'After that move 10 years ago, Lewis saw her brand explode.', ""Quinn Snacks' annual sales, she says, are now north of $30 million."", '""I definitely don\'t think we would have succeeded without this group of people backing us,"" Lewis said, referring to the Boulder community. ""', 'We knew it was exactly where we needed to be.', '""Correction: This article has been updated to reflect the final purchase price of Justin\'s Nut Butter by Hormel Foods.', 'It was $281 million.']",0.4112098228060428,"Gold said the city's vibrant community of entrepreneurs, its focus on health and wellness, and the beautiful natural surroundings are the key ingredients of his success story.",,0.987489710683408,"The Boulder region's emphasis on healthy living has fueled a booming industry, generating a whopping $2.1 billion annually for Colorado's economy, according to an October 2020 study by the Leeds School of Business at the University of Colorado Boulder.",,2024-04-12 -Buffalo Wild Wings leans into Go takeout format as a third of sales move off premises,https://www.cnbc.com/2024/04/11/buffalo-wild-wings-go-format-off-premise-sales.html,2024-04-11T14:29:51+0000,"In this articleBuffalo Wild Wings opened its 100th Go location on Wednesday in New York City, four years after unveiling the quick-service offshoot of its sports bar chain.BWW Go sells the chain's famous chicken wings and other classic menu items, but its locations are smaller and limited to delivery and takeout orders. For the sports bar chain, it's a way to make its brand even more ubiquitous, while offering customers more convenience.Since 2018, Buffalo Wild Wings has been a part of Inspire Brands, which is backed by private equity firm Roark Capital. Initially formed after a merger between BWW and Arby's, Inspire has since added other chains including Sonic Drive-In, Jimmy John's, Dunkin' and Baskin-Robbins.Inspire is reportedly considering going public in late 2024 or 2025 and seeking a valuation of $20 billion.BWW is the second-largest U.S. casual-dining chain in the bar and grill category with a market share of 14.4%, trailing only Dine Brands' Applebee's, according to Barclays research. It's carved out a chicken wing dominance among its closest competitors, serving more than 3 million gallons of ranch and blue cheese dressing in 2023.But the casual-dining segment has struggled, with publicly traded rivals like Chili's and Red Robin perpetually stuck in turnaround mode.Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents. A fast-growing spinoff like Go could make Inspire more enticing to potential public market investors.Opening a traditional Buffalo Wild Wings location requires anywhere from $2.44 million to $4.83 million in initial investment, depending on the restaurant's location and other factors, according to franchise disclosure documents. In comparison, a Go location will set a franchisee back roughly $560,000 to $1.05 million.While a BWW sports bar is around 6,000 square feet on average, a Go location is roughly 1,500 square feet. That means cheaper real estate that's faster to build and easier to operate.""With the ability to fit into smaller footprints, it has the recognition of an established brand with the unlimited potential of an emerging one,"" said Jack Litman, president of the Munson Group and franchisee of the 100th Go location.The Go format is primarily meant to reach the customers who sometimes don't want to ditch their couches for a sports bar.Before the pandemic, off-premise orders accounted for 15% of Buffalo Wild Wings sales, according to John Bowie, brand president at BWW. Now, takeout and delivery make up roughly a third of the BWW's sales.""This was an opportunity for us to take the takeout portion of the business, put it inside a freestanding unit and put it very conveniently located to where our customer is,"" Bowie told CNBC.As of Wednesday, BWW has branded its entire off-premise business under the Go name, too.BWW's off-premise growth mirrors that of the broader chicken wing category, which soared in popularity during the pandemic. Like pizza, chicken wings travel well when delivered, but they also offer more variety, with an array of sauces and rubs to switch up the flavor.While pizza chains like Domino's and Pizza Hut have seen their sales struggle since the pandemic as pizza fatigue sets in, chicken wings haven't slowed down in the same way.For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends. Bernstein analyst Danilo Gargiulo wrote in a February research note that Wingstop has the potential to be ""the next Domino's."" (Roark Capital previously owned Wingstop but exited its investment a year and a half after the chain's IPO.)Other chains are now also looking to chicken wings to bolster their sales. Restaurant Brands International's Popeyes added chicken wings to its menu permanently last year.BWW Go also gives the chain the opportunity to compete better with its fast-food rivals. The chain can tweak its limited menu to appeal to the customers looking for a convenient dinner.BWW Chief Marketing Officer Tristan Meline told CNBC in the future the chain may lean into offering more special sauces, menu items or deals to Go customers.BWW plans to keep adding to its current footprint of more than 1,300 sports bars, but Go will be opening locations at a much faster rate, according to Bowie.""It takes a long time to get a sports bar approval and to build a sports bar, but we've already seen with the 60 franchisees we have now that they can start stamping these out, and the growth will be very exciting,"" he said.BWW already has nearly 600 commitments from franchisees to open additional Go locations. About 85% of its operators also franchise with other chains owned by Inspire, like Dunkin' or Arby's.But the calls to franchise are also coming from outside of Inspire; Bowie said that he's been hearing from large franchisees that already operate multiple concepts.The chain plans to open another 50 Go locations by the end of the year.",CNBC,11/04/2024,"['In this articleBuffalo Wild Wings opened its 100th Go location on Wednesday in New York City, four years after unveiling the quick-service offshoot of its sports bar chain.', ""BWW Go sells the chain's famous chicken wings and other classic menu items, but its locations are smaller and limited to delivery and takeout orders."", ""For the sports bar chain, it's a way to make its brand even more ubiquitous, while offering customers more convenience."", 'Since 2018, Buffalo Wild Wings has been a part of Inspire Brands, which is backed by private equity firm Roark Capital.', ""Initially formed after a merger between BWW and Arby's, Inspire has since added other chains including Sonic Drive-In, Jimmy John's, Dunkin' and Baskin-Robbins."", 'Inspire is reportedly considering going public in late 2024 or 2025 and seeking a valuation of $20 billion.', ""BWW is the second-largest U.S. casual-dining chain in the bar and grill category with a market share of 14.4%, trailing only Dine Brands' Applebee's, according to Barclays research."", ""It's carved out a chicken wing dominance among its closest competitors, serving more than 3 million gallons of ranch and blue cheese dressing in 2023.But the casual-dining segment has struggled, with publicly traded rivals like Chili's and Red Robin perpetually stuck in turnaround mode."", ""Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents."", 'A fast-growing spinoff like Go could make Inspire more enticing to potential public market investors.', ""Opening a traditional Buffalo Wild Wings location requires anywhere from $2.44 million to $4.83 million in initial investment, depending on the restaurant's location and other factors, according to franchise disclosure documents."", 'In comparison, a Go location will set a franchisee back roughly $560,000 to $1.05 million.', 'While a BWW sports bar is around 6,000 square feet on average, a Go location is roughly 1,500 square feet.', ""That means cheaper real estate that's faster to build and easier to operate."", '""With the ability to fit into smaller footprints, it has the recognition of an established brand with the unlimited potential of an emerging one,"" said Jack Litman, president of the Munson Group and franchisee of the 100th Go location.', ""The Go format is primarily meant to reach the customers who sometimes don't want to ditch their couches for a sports bar."", 'Before the pandemic, off-premise orders accounted for 15% of Buffalo Wild Wings sales, according to John Bowie, brand president at BWW.', ""Now, takeout and delivery make up roughly a third of the BWW's sales."", '""This was an opportunity for us to take the takeout portion of the business, put it inside a freestanding unit and put it very conveniently located to where our customer is,"" Bowie told CNBC.As of Wednesday, BWW has branded its entire off-premise business under the Go name, too.', ""BWW's off-premise growth mirrors that of the broader chicken wing category, which soared in popularity during the pandemic."", 'Like pizza, chicken wings travel well when delivered, but they also offer more variety, with an array of sauces and rubs to switch up the flavor.', ""While pizza chains like Domino's and Pizza Hut have seen their sales struggle since the pandemic as pizza fatigue sets in, chicken wings haven't slowed down in the same way."", 'For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends.', 'Bernstein analyst Danilo Gargiulo wrote in a February research note that Wingstop has the potential to be ""the next Domino\'s."" (', ""Roark Capital previously owned Wingstop but exited its investment a year and a half after the chain's IPO.)Other chains are now also looking to chicken wings to bolster their sales."", ""Restaurant Brands International's Popeyes added chicken wings to its menu permanently last year."", 'BWW Go also gives the chain the opportunity to compete better with its fast-food rivals.', 'The chain can tweak its limited menu to appeal to the customers looking for a convenient dinner.', 'BWW Chief Marketing Officer Tristan Meline told CNBC in the future the chain may lean into offering more special sauces, menu items or deals to Go customers.', 'BWW plans to keep adding to its current footprint of more than 1,300 sports bars, but Go will be opening locations at a much faster rate, according to Bowie.', '""It takes a long time to get a sports bar approval and to build a sports bar, but we\'ve already seen with the 60 franchisees we have now that they can start stamping these out, and the growth will be very exciting,"" he said.', 'BWW already has nearly 600 commitments from franchisees to open additional Go locations.', ""About 85% of its operators also franchise with other chains owned by Inspire, like Dunkin' or Arby's."", ""But the calls to franchise are also coming from outside of Inspire; Bowie said that he's been hearing from large franchisees that already operate multiple concepts."", 'The chain plans to open another 50 Go locations by the end of the year.']",0.2747050126824321,"For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends.","BWW Go sells the chain's famous chicken wings and other classic menu items, but its locations are smaller and limited to delivery and takeout orders.",0.5683647394180298,"For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends.","Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents.",2024-04-12 -"Department stores face another squeeze. This time, with store credit card revenue",https://www.cnbc.com/2024/04/10/store-credit-cards-deal-department-stores-another-revenue-squeeze.html,2024-04-10T15:33:01+0000,"In this articleDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash. Starting this spring, though, those cards will become less lucrative. Late fees for customers will be capped at $8, down from an industry average of around $32, under a new rule from the Consumer Financial Protection Bureau. The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.Specialty retailers with store cards, such as Gap, will feel the pinch, but it'll be the most significant at department stores since their revenue is already under pressure, according to Jane Hali, CEO and retail analyst at equity research firm Jane Hali & Associates.""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.For fiscal 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom.Kohl's reported $924 million in ""other"" revenue in 2023, a broader category that includes unused gift cards and third-party advertising on its website, though Fitch Ratings estimates the majority of that revenue category is from credit cards.The three companies do not break out how much of total credit card revenue comes from late fees.Store-branded credit cards are a clear boon for retailers: They encourage purchases and come with virtually no overhead, said David Silverman, a retail analyst at Fitch Ratings.They're typically issued through financial services companies and banks, such as Synchrony Financial, TD Bank or Capital One. And they often come with extra perks for shoppers, such as additional discounts or rewards for repeat purchases.For retailers, the branded cards provide insights into customer behavior, since they track purchases, and can amount to a perpetual advertisement, right in customers' wallets, Silverman said.""If I'm constantly using my Macy's card or my Home Depot card or whatever it is, that brand is even more so part of my daily life,"" he said.Even before the CFPB ruling, retailers' credit cards faced challenges.Shoppers, particularly those who are younger, are paying in new ways like buy now, pay later, which allows a customer to pay back a purchase in installments. Use of buy now, pay later with online purchases between January and March totaled $19.2 billion, an increase of 12.3% from the year-ago period, according to Adobe Analytics, which analyzes online transactions across retail sites.Some customers are opting for credit cards that offer experience-based perks, such as access to airport lounges or early purchases of high-demand concert tickets.Plus, in a higher interest rate environment, getting customers to sign up for store cards or use them may be a trickier proposition. For retailer-issued credit cards, interest rates — also called APRs, or annual percentage rates — were about 29.33% on average as of early April, according Bankrate. That compares with an average of 20.75% for all U.S. credit cards.All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further.For all the millions brought in by private-label cards, they drive a small portion of retailers' net sales. The retailers' credit cards accounted for nearly 3% of Macy's net sales and a little over 3% of Nordstrom's net sales in the most recent fiscal year.Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies.Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year. Chief Operating Officer Michael Fiddelke said at an investor meeting in March that the discounter has seen softer spending on credit cards, but has been able to make it up with growth of its advertising business, Roundel.The big-box retailer recently relaunched its loyalty program as a three-tiered offering that includes a free tier, a paid annual membership and a credit card that's now called the Target Circle Card.Macy's, too, has dealt with falling credit card revenue. The segment's $619 million during the most recent fiscal year was a decline of about 28%. And the company said it expects that to tumble even further to between $475 million and $490 million for this fiscal year as net sales fall.That outlook doesn't take into account the credit card late fee ruling.Adrian Mitchell, chief operating officer and chief financial officer, told investors on the company's earnings call that Macy's is working with Citi, its financial partner, to try to offset the late fee ruling. It's also looking for strategies to increase customers' use of Macy's and Bloomingdale's credit cards, he said.Nordstrom, for its part, has reported year-over-year gains in credit card revenue for each of the past three years, though its haul is smaller than that of Kohl's, Macy's and Target. It downplayed the CFPB change, saying the average credit quality of its portfolio tends to be higher than other retailers, meaning it relies less on late fees.Gap does not disclose credit card revenue, but its chief financial officer, Katrina O'Connell, said on an earnings call that losses from late fees will be ""largely offset in 2024 by other levers within our credit card program."" The company declined to share specifics about those offsets.Some card issuers, such as Synchrony, have said they will make changes in the coming months, such as increasing APRs, to try to blunt the federal rule's effect. Synchrony is a major issuer of store cards, including the cards for Sam's Club and Lowe's.At Kohl's, it's a bit of a different story.Kohl's customers typically have lower household incomes than those of other retailers, such as Nordstrom, which makes them more likely to miss a payment and be subject to a late fee, said Lorraine Hutchinson, a research analyst at Bank of America.And, off-mall department store retailer Kohl's is chasing a turnaround under CEO Tom Kingsbury, the former chief of off-price chain Burlington, and is leaning in part on co-branded cards to pull it off.To offset losses, Kohl's has been working to get customers to switch from store-branded credit cards, which can only be used in its stores and on its website, to co-branded Capital One cards that can be used to pay for other purchases, too.In an interview with CNBC in mid-March, Kingsbury said the company had previously planned to introduce the co-branded cards, but accelerated its plans because of the impending CFPB late fee cap.Co-branded cards ""will help offset any late fee changes that we have,"" he said.Kingsbury said as of March that Kohl's has converted nearly 700,000 private-label cardholders. It plans to convert about 5 million more later this year, covering more than a quarter of its 20 million active cardholders.He also underscored why Kohl's — and other retailers — want to be in the credit card business.On average, Kohl's credit customers spend six times more per year than shoppers who don't belong to its loyalty program, Kingsbury said. Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.— CNBC's Gabrielle Fonrouge contributed to this report.",CNBC,10/04/2024,"[""In this articleDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash."", 'Starting this spring, though, those cards will become less lucrative.', 'Late fees for customers will be capped at $8, down from an industry average of around $32, under a new rule from the Consumer Financial Protection Bureau.', ""The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances."", ""Specialty retailers with store cards, such as Gap, will feel the pinch, but it'll be the most significant at department stores since their revenue is already under pressure, according to Jane Hali, CEO and retail analyst at equity research firm Jane Hali & Associates."", '""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.', ""For fiscal 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom."", 'Kohl\'s reported $924 million in ""other"" revenue in 2023, a broader category that includes unused gift cards and third-party advertising on its website, though Fitch Ratings estimates the majority of that revenue category is from credit cards.', 'The three companies do not break out how much of total credit card revenue comes from late fees.', 'Store-branded credit cards are a clear boon for retailers: They encourage purchases and come with virtually no overhead, said David Silverman, a retail analyst at Fitch Ratings.', ""They're typically issued through financial services companies and banks, such as Synchrony Financial, TD Bank or Capital One."", 'And they often come with extra perks for shoppers, such as additional discounts or rewards for repeat purchases.', ""For retailers, the branded cards provide insights into customer behavior, since they track purchases, and can amount to a perpetual advertisement, right in customers' wallets, Silverman said."", '""If I\'m constantly using my Macy\'s card or my Home Depot card or whatever it is, that brand is even more so part of my daily life,"" he said.', ""Even before the CFPB ruling, retailers' credit cards faced challenges."", 'Shoppers, particularly those who are younger, are paying in new ways like buy now, pay later, which allows a customer to pay back a purchase in installments.', 'Use of buy now, pay later with online purchases between January and March totaled $19.2 billion, an increase of 12.3% from the year-ago period, according to Adobe Analytics, which analyzes online transactions across retail sites.', 'Some customers are opting for credit cards that offer experience-based perks, such as access to airport lounges or early purchases of high-demand concert tickets.', 'Plus, in a higher interest rate environment, getting customers to sign up for store cards or use them may be a trickier proposition.', 'For retailer-issued credit cards, interest rates — also called APRs, or annual percentage rates — were about 29.33% on average as of early April, according Bankrate.', 'That compares with an average of 20.75% for all U.S. credit cards.', 'All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further.', ""For all the millions brought in by private-label cards, they drive a small portion of retailers' net sales."", ""The retailers' credit cards accounted for nearly 3% of Macy's net sales and a little over 3% of Nordstrom's net sales in the most recent fiscal year."", ""Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies."", ""Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year."", 'Chief Operating Officer Michael Fiddelke said at an investor meeting in March that the discounter has seen softer spending on credit cards, but has been able to make it up with growth of its advertising business, Roundel.', ""The big-box retailer recently relaunched its loyalty program as a three-tiered offering that includes a free tier, a paid annual membership and a credit card that's now called the Target Circle Card."", ""Macy's, too, has dealt with falling credit card revenue."", ""The segment's $619 million during the most recent fiscal year was a decline of about 28%."", 'And the company said it expects that to tumble even further to between $475millionand $490million for this fiscal year as net sales fall.', ""That outlook doesn't take into account the credit card late fee ruling."", ""Adrian Mitchell, chief operating officer and chief financial officer, told investors on the company's earnings call that Macy's is working with Citi, its financial partner, to try to offset the late fee ruling."", ""It's also looking for strategies to increase customers' use of Macy's and Bloomingdale's credit cards, he said."", ""Nordstrom, for its part, has reported year-over-year gains in credit card revenue for each of the past three years, though its haul is smaller than that of Kohl's, Macy's and Target."", 'It downplayed the CFPB change, saying the average credit quality of its portfolio tends to be higher than other retailers, meaning it relies less on late fees.', 'Gap does not disclose credit card revenue, but its chief financial officer, Katrina O\'Connell, said on an earnings call that losses from late fees will be ""largely offset in 2024 by other levers within our credit card program.""', 'The company declined to share specifics about those offsets.', ""Some card issuers, such as Synchrony, have said they will make changes in the coming months, such as increasing APRs, to try to blunt the federal rule's effect."", ""Synchrony is a major issuer of store cards, including the cards for Sam's Club and Lowe's."", ""At Kohl's, it's a bit of a different story."", ""Kohl's customers typically have lower household incomes than those of other retailers, such as Nordstrom, which makes them more likely to miss a payment and be subject to a late fee, said Lorraine Hutchinson, a research analyst at Bank of America."", ""And, off-mall department store retailer Kohl's is chasing a turnaround under CEO Tom Kingsbury, the former chief of off-price chain Burlington, and is leaning in part on co-branded cards to pull it off."", ""To offset losses, Kohl's has been working to get customers to switch from store-branded credit cards, which can only be used in its stores and on its website, to co-branded Capital One cards that can be used to pay for other purchases, too."", 'In an interview with CNBC in mid-March, Kingsbury said the company had previously planned to introduce the co-branded cards, but accelerated its plans because of the impending CFPB late fee cap.', 'Co-branded cards ""will help offset any late fee changes that we have,"" he said.', ""Kingsbury said as of March that Kohl's has converted nearly 700,000 private-label cardholders."", 'It plans to convert about 5 million more later this year, covering more than a quarter of its 20 million active cardholders.', ""He also underscored why Kohl's — and other retailers — want to be in the credit card business."", ""On average, Kohl's credit customers spend six times more per year than shoppers who don't belong to its loyalty program, Kingsbury said."", 'Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.—', ""CNBC's Gabrielle Fonrouge contributed to this report.""]",0.2639977157326827,"The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.","""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.",-0.0032207988775693,"Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.—","Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies.",2024-04-12 -Quantum rush: Denver-Boulder area aims to be the Silicon Valley of the future,https://www.cnbc.com/2024/04/09/quantum-rush-denver-boulder-aims-to-be-silicon-valley-of-the-future.html,2024-04-12T14:11:34+0000,"This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.Imagine a world where computers solve problems billions of times faster than today's machines can, ushering in a new era of scientific discovery.That's the promise of quantum technology — and a fierce race is underway to unlock its potential. In the shadow of the Rocky Mountains, the Denver-Boulder region is emerging as a global leader in this revolution.Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem.""The future looks really bright for us here. … We've built two of the largest quantum computers on the planet,"" Hays said in CNBC's primetime special ""Cities of Success: Denver & Boulder,"" which airs April 11 at 10 p.m. ET. ""The fact that we've been able to do that in 18 months is pretty remarkable.""In Denver, Maybell Quantum, another key player in the industry, is building a super refrigerator that chills atoms to extreme temperatures — more than 100,000 times colder than the coldest part of Antarctica.""It's 10 millikelvin,"" said Maybell Quantum CEO Corban Tillemann-Dick. That equates to negative 459.652 degrees Fahrenheit.Why so cold? The frigid conditions are essential for quantum computers to operate. The supercooled environment helps minimize even the tiniest vibrations that can disrupt a quantum chip's delicate subatomic calculations.Just like semiconductors fueled powerful computers and networking devices that made today's complex internet possible, Tillemann-Dick said the next big thing could be quantum technology. ""This technology is going to be as important to the next 100 years as semiconductors [were to] the internet or cellular technology. It'll transform everything from medicine to defense to agriculture,"" he said.The CEO said he envisions data centers filled with rows of quantum computers tackling the world's most pressing problems.""There will come a time not too far in the future … you will walk into a data center and there will be thousands of [quantum computers] lined up just like you have servers today, working on workloads from all over the world to solve these critical problems,"" he said.Physicist Richard Feynman is credited with pioneering the idea of quantum computing in the 1980s. It's come a long way since then. According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States. This designation is part of a program to invest in regions with high potential for growth in key technology sectors.Leading the charge to solidify Colorado's position as a quantum leader is Elevate Quantum Colorado, a private-public consortium of more than 100 organizations including the University of Colorado Boulder and other higher education institutions, state and local governments, federal labs and private companies.""The idea is to create Silicon Valleys where there aren't Silicon Valleys today against the most important technologies of our time,"" said Zachary Yerushalmi, Elevate Quantum Colorado's CEO. Yerushalmi noted that federal designation positions the state to become one of only a handful of quantum hubs nationwide.""We competed against 400 applicants across the nation, and we're fortunate to be selected as one of 31,"" Yerushalmi explained. ""This is where things really get hot … we're competing for $70 million from the federal government.""Only a handful of hubs will be selected to receive the funding — and Yerushalmi says he's optimistic of their chances, expecting a decision later this year.Meanwhile, Colorado Gov. Jared Polis, a firm believer in quantum's potential, is upping the stakes. In February, his administration unveiled plans to invest an additional $74 million into the quantum industry over five to nine years if Colorado is one of the regions selected to receive federal funding.""I'm bullish on quantum tech,"" Polis told CNBC in a recent interview. ""I think its time has come.""Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica. An earlier version of this story misstated the metric.",CNBC,12/04/2024,"[""This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", ""Imagine a world where computers solve problems billions of times faster than today's machines can, ushering in a new era of scientific discovery."", ""That's the promise of quantum technology — and a fierce race is underway to unlock its potential."", 'In the shadow of the Rocky Mountains, the Denver-Boulder region is emerging as a global leader in this revolution.', ""Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem."", '""The future looks really bright for us here. …', 'We\'ve built two of the largest quantum computers on the planet,"" Hays said in CNBC\'s primetime special ""Cities of Success: Denver & Boulder,"" which airs April 11 at 10 p.m. ET. ""', ""The fact that we've been able to do that in 18 months is pretty remarkable."", '""In Denver, Maybell Quantum, another key player in the industry, is building a super refrigerator that chills atoms to extreme temperatures — more than 100,000 times colder than the coldest part of Antarctica.', '""It\'s 10 millikelvin,"" said Maybell Quantum CEO Corban Tillemann-Dick.', 'That equates to negative 459.652 degrees Fahrenheit.', 'Why so cold?', 'The frigid conditions are essential for quantum computers to operate.', ""The supercooled environment helps minimize even the tiniest vibrations that can disrupt a quantum chip's delicate subatomic calculations."", ""Just like semiconductors fueled powerful computers and networking devices that made today's complex internet possible, Tillemann-Dick said the next big thing could be quantum technology."", '""This technology is going to be as important to the next 100 years as semiconductors [were to] the internet or cellular technology.', 'It\'ll transform everything from medicine to defense to agriculture,"" he said.', ""The CEO said he envisions data centers filled with rows of quantum computers tackling the world's most pressing problems."", '""There will come a time not too far in the future … you will walk into a data center and there will be thousands of [quantum computers] lined up just like you have servers today, working on workloads from all over the world to solve these critical problems,"" he said.', 'Physicist Richard Feynman is credited with pioneering the idea of quantum computing in the 1980s.', ""It's come a long way since then."", 'According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.', 'This designation is part of a program to invest in regions with high potential for growth in key technology sectors.', ""Leading the charge to solidify Colorado's position as a quantum leader is Elevate Quantum Colorado, a private-public consortium of more than 100 organizations including the University of Colorado Boulder and other higher education institutions, state and local governments, federal labs and private companies."", '""The idea is to create Silicon Valleys where there aren\'t Silicon Valleys today against the most important technologies of our time,"" said Zachary Yerushalmi, Elevate Quantum Colorado\'s CEO.Yerushalmi noted that federal designation positions the state to become one of only a handful of quantum hubs nationwide.', '""We competed against 400 applicants across the nation, and we\'re fortunate to be selected as one of 31,"" Yerushalmi explained. ""', ""This is where things really get hot … we're competing for $70 million from the federal government."", '""Only a handful of hubs will be selected to receive the funding — and Yerushalmi says he\'s optimistic of their chances, expecting a decision later this year.', ""Meanwhile, Colorado Gov. Jared Polis, a firm believer in quantum's potential, is upping the stakes."", 'In February, his administration unveiled plans to invest an additional $74 million into the quantum industry over five to nine years if Colorado is one of the regions selected to receive federal funding.', '""I\'m bullish on quantum tech,"" Polis told CNBC in a recent interview. ""', 'I think its time has come.', '""Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica.', 'An earlier version of this story misstated the metric.']",0.167181091325913,"According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.","Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem.",0.7769354701042175,"According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.",That equates to negative 459.652 degrees Fahrenheit.,2024-04-12 -4-day workweeks may be around the corner. A third of America’s companies are exploring them,https://edition.cnn.com/2024/04/12/business/four-day-workweek-survey/index.html," - Updated - 10:54 AM EDT, Fri April 12, 2024 - ","Burnout is such a problem for workers that some bosses are considering shrinking the length of the workweek. - - Nearly one-third (30%) of large US companies are exploring new work schedule shifts such as four-day or four-and-a-half-day workweeks, according to a KPMG survey of CEOs released this week. - - The findings show how some executives are searching for ways to attract and retain talent in a red hot job market where many employees feel over-worked and underpaid. - - “We are all working to figure out what is optimal, and we will continue to experiment and pivot,” Paul Knopp, chair and CEO of KPMG US, told CNN in an interview. - - Many workers say they would love a shorter work week. - - A full 77% of US workers said a four-day, 40-hour workweek would have a positive impact on their wellbeing, according to a Gallup poll released in November. That includes 46% who said it would have an “extremely positive” effect. - - The good news for workers is that some studies of four-day workweeks in the United States and Europe have found positive results for well-being and productivity among workers. - - However, Knopp said it would be premature to definitively say this approach is gaining traction. - - “It’s way too early to declare the four-day work week part of the future. It’s still in the experimentation phase,” he said. - - CEOs are still trying to understand how such an approach would work, how it would impact the mental and physical health of employees and whether it drives down costs by creating healthier environments. - - Some companies that have experimented with shorter workweeks are sticking with it. - - In the United Kingdom, a large majority of companies that took part in the world’s biggest trial of a four-day workweek were still letting employees work a shorter week a year later. More than half had even made the change permanent. - - Of course, a shorter workweek may not work everywhere. - - Knopp said that while a four-day workweek could make sense in finance, marketing and some other office jobs, it may not in industries like healthcare where there are labor shortages. - - “My guess is a widespread four-day workweek could be years away – if ever,” he said. “You’ll see companies quietly experimenting with it, but I don’t personally foresee widespread adoption in the next couple of years.” - - However, Knopp said artificial intelligence may allow bosses to embrace shorter workweeks because the technology should make workers more efficient. - - Not only can AI automate mundane and routine tasks such as building presentations, crafting emails and writing reports, in the future it will get better at even more complex activities. - - “It’s possible that generative AI might make the four-day workweek more realistic,” Knopp said. - - In fact, the KPMG survey found that 61% of US CEOs are encouraging employees to use generative AI to automate mundane tasks to relieve stress and manage their workloads. - - Billionaire investor Steve Cohen told CNBC this month that he’s confident a four-day workweek is coming – especially with the advent of AI. Cohen said he invested in a startup golf league partly on the belief that people will have more time on Fridays. - - “I think I would have done the golf investment anyway, because I think there’s a longer-term thought, but my belief is a four-day work week is coming,” he said. - - And in a win for workers, bosses appear to be dialing back their demands for workers to return to full-time in-office work. - - Just 34% of the US CEOs polled by KPMG said they envision corporate employees who were traditionally based in the office to be back in the physical workplace five days a week in the next three years. That’s down from 62% just a year ago. - - Instead, 46% of CEOs see these roles being hybrid (up from 34% in 2023), and 3% expect them to be fully remote, KPMG said. - - “The views of employees haven’t changed. They want more flexibility. Now there is more recognition from CEOs that hybrid is here to stay,” Knopp said.",CNN,12/04/2024,"['Burnout is such a problem for workers that some bosses are considering shrinking the length of the workweek.', 'Nearly one-third (30%) of large US companies are exploring new work schedule shifts such as four-day or four-and-a-half-day workweeks, according to a KPMG survey of CEOs released this week.', 'The findings show how some executives are searching for ways to attract and retain talent in a red hot job market where many employees feel over-worked and underpaid.', '“We are all working to figure out what is optimal, and we will continue to experiment and pivot,” Paul Knopp, chair and CEO of KPMG US, told CNN in an interview.', 'Many workers say they would love a shorter work week.', 'A full 77% of US workers said a four-day, 40-hour workweek would have a positive impact on their wellbeing, according to a Gallup poll released in November.', 'That includes 46% who said it would have an “extremely positive” effect.', 'The good news for workers is that some studies of four-day workweeks in the United States and Europe have found positive results for well-being and productivity among workers.', 'However, Knopp said it would be premature to definitively say this approach is gaining traction.', '“It’s way too early to declare the four-day work week part of the future.', 'It’s still in the experimentation phase,” he said.', 'CEOs are still trying to understand how such an approach would work, how it would impact the mental and physical health of employees and whether it drives down costs by creating healthier environments.', 'Some companies that have experimented with shorter workweeks are sticking with it.', 'In the United Kingdom, a large majority of companies that took part in the world’s biggest trial of a four-day workweek were still letting employees work a shorter week a year later.', 'More than half had even made the change permanent.', 'Of course, a shorter workweek may not work everywhere.', 'Knopp said that while a four-day workweek could make sense in finance, marketing and some other office jobs, it may not in industries like healthcare where there are labor shortages.', '“My guess is a widespread four-day workweek could be years away – if ever,” he said. “', 'You’ll see companies quietly experimenting with it, but I don’t personally foresee widespread adoption in the next couple of years.”', 'However, Knopp said artificial intelligence may allow bosses to embrace shorter workweeks because the technology should make workers more efficient.', 'Not only can AI automate mundane and routine tasks such as building presentations, crafting emails and writing reports, in the future it will get better at even more complex activities.', '“It’s possible that generative AI might make the four-day workweek more realistic,” Knopp said.', 'In fact, the KPMG survey found that 61% of US CEOs are encouraging employees to use generative AI to automate mundane tasks to relieve stress and manage their workloads.', 'Billionaire investor Steve Cohen told CNBC this month that he’s confident a four-day workweek is coming – especially with the advent of AI.', 'Cohen said he invested in a startup golf league partly on the belief that people will have more time on Fridays.', '“I think I would have done the golf investment anyway, because I think there’s a longer-term thought, but my belief is a four-day work week is coming,” he said.', 'And in a win for workers, bosses appear to be dialing back their demands for workers to return to full-time in-office work.', 'Just 34% of the US CEOs polled by KPMG said they envision corporate employees who were traditionally based in the office to be back in the physical workplace five days a week in the next three years.', 'That’s down from 62% just a year ago.', 'Instead, 46% of CEOs see these roles being hybrid (up from 34% in 2023), and 3% expect them to be fully remote, KPMG said.', '“The views of employees haven’t changed.', 'They want more flexibility.', 'Now there is more recognition from CEOs that hybrid is here to stay,” Knopp said.']",0.2221596142445133,The good news for workers is that some studies of four-day workweeks in the United States and Europe have found positive results for well-being and productivity among workers.,"Knopp said that while a four-day workweek could make sense in finance, marketing and some other office jobs, it may not in industries like healthcare where there are labor shortages.",0.6255031789050383,The good news for workers is that some studies of four-day workweeks in the United States and Europe have found positive results for well-being and productivity among workers.,That’s down from 62% just a year ago.,2024-04-12 -TV networks prepare letter to Biden and Trump campaigns urging them to commit to 2024 election debates,https://edition.cnn.com/2024/04/09/media/tv-networks-letter-to-biden-and-trump-campaigns-2024-election-debates/index.html," - Updated - 4:30 PM EDT, Tue April 9, 2024 - ","Five of the major US television networks have banded together to draft a letter urging President Joe Biden and former President Donald Trump to commit to participating in televised debates ahead of the 2024 election. - - According to a draft of the letter shared with CNN, which is also a signatory on the letter, NBC, CBS, ABC, Fox News and CNN urged the presumptive nominees “to publicly commit to participating in general election debates before November’s election.” - - The television networks are seeking additional news organizations to sign the letter, which has not yet been sent to the campaigns, a person familiar with the matter said. The New York Times was first to report on the existence of the letter. - - The letter, which has not been finalized, notes that general election debates have “played a vital role in every presidential election of the past 50 years, dating to 1976” with “tens of millions” tuning in to watch a competition of ideas for the votes of American citizens. - - “Though it is too early for invitations to be extended to any candidates, it is not too early for candidates who expect to meet the eligibility criteria to publicly state their support for - and their intention to participate in - the Commission’s debates planned for this fall,” the letter states. - - Frank Fahrenkopf, co-chair for the nonpartisan Commission on Presidential Debates, told CNN he has not yet seen the letter. - - Biden has not publicly committed to debating Trump, although he has not ruled it out. - - “It depends on his behavior,” Biden said in early March. - - Trump has posted on social media that he will debate “anytime, anywhere anyplace” despite the Republican National Committee voting unanimously in 2022 to withdraw from the Commission on Presidential Debates. - - While historically debates were confined to good-spirited discussions on public policy issues, Trump over the last two presidential cycles has deformed the tradition with uncontrolled outbursts and an avalanche of lies. - - The presumptive Republican Party nominee has a proven track record of flagrantly violating debate rules and using the sizable national platform to lob nasty personal insults at his political opponents. His behavior became so unruly that in 2020 the commission took the extraordinary step of muting the microphones of Biden and Trump during portions of debates after Trump’s repeated outbursts caused the first debate to devolve into chaos. - - Trump’s behavior and loose relationship with the facts have given Biden aides pause on whether it would be strategically wise to engage with him on such a platform. - - “If there is one thing Americans can agree on during this polarized time, it is that the stakes of this election are exceptionally high,” the TV networks stated in the letter. “Amidst that backdrop, there is simply no substitute for the candidates debating with each other, and before the American people, their visions for the future of our nation.”",CNN,09/04/2024,"['Five of the major US television networks have banded together to draft a letter urging President Joe Biden and former President Donald Trump to commit to participating in televised debates ahead of the 2024 election.', 'According to a draft of the letter shared with CNN, which is also a signatory on the letter, NBC, CBS, ABC, Fox News and CNNurgedthe presumptive nominees “to publicly commit to participating in general election debates before November’s election.”', 'The television networks are seeking additionalnewsorganizations to sign the letter, which has not yet been sent to the campaigns,a person familiar with the matter said.', 'The New York Times wasfirst to reporton the existence of the letter.', 'The letter, which has not been finalized, notes that general election debates have “played a vital role in every presidential election of the past 50 years, dating to 1976” with “tens of millions” tuning in to watch a competition of ideas for the votes of American citizens.', '“Though it is too early for invitations to be extended to any candidates, it is not too early for candidates who expect to meet the eligibility criteria to publicly state their support for - and their intention to participate in - the Commission’s debates planned for this fall,” the letter states.', 'Frank Fahrenkopf, co-chair for the nonpartisan Commission on Presidential Debates, told CNN he has not yet seen the letter.', 'Biden has not publicly committed to debating Trump, although he has not ruled it out.', '“It depends on his behavior,” Biden said in early March.', 'Trump has posted on social media that he will debate “anytime, anywhere anyplace” despite the Republican National Committee votingunanimouslyin 2022 to withdraw from the Commission on PresidentialDebates.', 'While historically debates were confined to good-spirited discussions on public policy issues, Trump over the last two presidential cycles has deformed the tradition with uncontrolled outbursts and anavalanche of lies.', 'The presumptive Republican Party nominee has a proven track record of flagrantly violating debate rules and using the sizable national platform to lob nasty personal insults at his political opponents.', 'His behavior became so unruly that in 2020 the commission took the extraordinary step ofmuting the microphonesof Biden and Trump during portions of debates after Trump’s repeated outbursts caused the first debate to devolve into chaos.', 'Trump’s behavior and loose relationship with the facts have given Biden aides pause on whether it would be strategically wise to engage with him on such a platform.', '“If there is one thing Americans can agree on during this polarized time, it is that the stakes of this election are exceptionally high,” the TV networks stated in the letter. “', 'Amidst that backdrop, there is simply no substitute for the candidates debating with each other, and before the American people, their visions for the future of our nation.”']",0.0712156336537331,"According to a draft of the letter shared with CNN, which is also a signatory on the letter, NBC, CBS, ABC, Fox News and CNNurgedthe presumptive nominees “to publicly commit to participating in general election debates before November’s election.”",The presumptive Republican Party nominee has a proven track record of flagrantly violating debate rules and using the sizable national platform to lob nasty personal insults at his political opponents.,-0.9832318723201752,,Trump’s behavior and loose relationship with the facts have given Biden aides pause on whether it would be strategically wise to engage with him on such a platform.,2024-04-12 -Elon Musk: Tesla boss to visit India for meeting with PM Modi,https://www.bbc.co.uk/news/articles/c4n1ldx5klwo,2024-04-11T05:30:59.021Z,"Elon Musk has announced on his social media platform X, formerly Twitter, that he will visit India to meet Prime Minister Narendra Modi without giving a date. The Tesla boss is expected to announce major investment plans in the country soon. Last month, India cut import taxes on electric vehicles (EV) for global carmakers which commit to investing $500m (£399m) and starting local production within three years. In 2021, the Tesla boss said that India's high import duties had prevented the firm from launching its cars in the world's fastest-growing major economy. Mr Musk wrote in a post on Wednesday: ""Looking forward to meeting with Prime Minister Narendra Modi in India!"" A senior Indian government official told the BBC that the meeting is scheduled for the last week of April and will take place at Mr Modi’s official residence in New Delhi. The BBC understands that Tesla’s plans for starting manufacturing in India will feature in the talks. Tesla did not immediately respond to a BBC request for comment. Mr Musk's visit comes just as the country begins voting in marathon, six-week-long elections on 19 April. Mr Modi's Hindu-nationalist Bharatiya Janata Party (BJP) is widely expected to win a third term in power. A Tesla investment announcement during the election would bolster the business-friendly credentials of Mr Modi, who has courted foreign companies to set up manufacturing operations in India and create jobs. The two men met last June in New York when the technology multi-billionaire said Mr Modi had been ""pushing us to make significant investments in India, which is something that we intend to do"". Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China. Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition. Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen. Tesla's shares have lost almost a third of their value since the start of this year. India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector. ",BBC,11/04/2024,"['Elon Musk has announced on his social media platform X, formerly Twitter, that he will visit India to meet Prime Minister Narendra Modi without giving a date.', 'The Tesla boss is expected to announce major investment plans in the country soon.', 'Last month, India cut import taxes on electric vehicles (EV) for global carmakers which commit to investing $500m (£399m) and starting local production within three years.', ""In 2021, the Tesla boss said that India's high import duties had prevented the firm from launching its cars in the world's fastest-growing major economy."", 'Mr Musk wrote in a post on Wednesday: ""Looking forward to meeting with Prime Minister Narendra Modi in India!""', 'A senior Indian government official told the BBC that the meeting is scheduled for the last week of April and will take place at Mr Modi’s official residence in New Delhi.', 'The BBC understands that Tesla’s plans for starting manufacturing in India will feature in the talks.', 'Tesla did not immediately respond to a BBC request for comment.', ""Mr Musk's visit comes just as the country begins voting in marathon, six-week-long elections on 19 April."", ""Mr Modi's Hindu-nationalist Bharatiya Janata Party (BJP) is widely expected to win a third term in power."", 'A Tesla investment announcement during the election would bolster the business-friendly credentials of Mr Modi, who has courted foreign companies to set up manufacturing operations in India and create jobs.', 'The two men met last June in New York when the technology multi-billionaire said Mr Modi had been ""pushing us to make significant investments in India, which is something that we intend to do"".', ""Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China."", 'Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.', 'Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen.', ""Tesla's shares have lost almost a third of their value since the start of this year."", ""India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector.""]",0.0403476979370383,Mr Modi's Hindu-nationalist Bharatiya Janata Party (BJP) is widely expected to win a third term in power.,Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China.,-0.1105813052919175,"India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector.","Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.",2024-04-12 -Fifteen jobs saved as century-old machinery firm sold,https://www.bbc.co.uk/news/articles/cw591lvd539o,2024-04-12T14:53:15.463Z,"Fifteen jobs have been saved after an Aberdeenshire agricultural machinery business was sold out of administration. It was announced in March that Balgownie Ltd and Balgownie Rentals Ltd - which had traded for 117 years - had entered administration. Administrators Johnston Carmichael said ""cashflow difficulties"" were to blame for the closure of the firm. Twenty four employees lost their jobs with immediate effect, with 17 workers retained to help try to sell the assets. Johnston Carmichael said the business and assets had now been sold to MacGregor Industrial Supplies Ltd, preserving 15 jobs. The sale includes the Inverurie and Turriff trading sites. ",BBC,12/04/2024,"['Fifteen jobs have been saved after an Aberdeenshire agricultural machinery business was sold out of administration.', 'It was announced in March that Balgownie Ltd and Balgownie Rentals Ltd - which had traded for 117 years - had entered administration.', 'Administrators Johnston Carmichael said ""cashflow difficulties"" were to blame for the closure of the firm.', 'Twenty four employees lost their jobs with immediate effect, with 17 workers retained to help try to sell the assets.', 'Johnston Carmichael said the business and assets had now been sold to MacGregor Industrial Supplies Ltd, preserving 15 jobs.', 'The sale includes the Inverurie and Turriff trading sites.']",0.056318158027072,Fifteen jobs have been saved after an Aberdeenshire agricultural machinery business was sold out of administration.,"Administrators Johnston Carmichael said ""cashflow difficulties"" were to blame for the closure of the firm.",0.0019572675228118,Fifteen jobs have been saved after an Aberdeenshire agricultural machinery business was sold out of administration.,"Administrators Johnston Carmichael said ""cashflow difficulties"" were to blame for the closure of the firm.",2024-04-12 -Ohtani interpreter charged with stealing over $16m from baseball star,https://www.bbc.co.uk/news/world-us-canada-68794204,2024-04-11T18:45:57.000Z,"US officials have charged baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, with stealing millions from the sports star. The lead prosecutor in California accused Mr Mizuhara of impersonating Mr Ohtani to banks and to place wagers. ""Mr Ohtani is considered a victim in this case,"" US Attorney Martin Estrada told reporters at a news conference in Los Angeles on Thursday. Mr Mizuhara, 39, was fired last month as news of the alleged theft emerged. Prosecutors claim that the interpreter used Mr Ohtani's money to place bets and deposited his winnings into an account that he controlled. Between November 2021 and January 2024, officials said he wired more than $16m (£13m) in unauthorised transfers from Mr Ohtani's account. ""Mr Mizuhara did all this to feed his insatiable appetite for illegal sports gambling,"" Mr Estrada said. The charging document alleges that Mr Mizuhara, who acted as Mr Ohtani's de facto manager, took advantage of the fact that the Japanese sports star does not speak English. It said he called bank officials and ""falsely identified himself as [Mr] Ohtani to trick employees into authorizing wire transfers from [Mr] Ohtani's bank account to associates of the illegal gambling operation"". From January to March 2024, Mr Mizuhara also allegedly purchased $325,000 in baseball cards using money taken from Mr Ohtani's account. An LA-based defence lawyer representing Mr Mizuhara declined to comment on the charges on Thursday. Last week, Mr Ohtani sat for an interview with prosecutors and denied that he allowed the interpreter access to his finances. ""[Mr] Ohtani provided his cellphone to law enforcement, who determined that there was no evidence to suggest that [Mr] Ohtani was aware of, or involved in, [Mr] Mizuhara's illegal gambling activity or payment of those debts,"" according to the prosecutor's statement. The criminal charge of bank fraud carries a sentence of 30 years in federal prison. The New York Times reports he is negotiating a plea deal with prosecutors. Sports betting is legal in 38 states in America but it remains illegal in California. Major League Baseball has its own policy that bans ""any player, umpire, or Club or League official or employee"" from betting on baseball games and placing bets with illegal bookmakers. Mr Estrada on Thursday told reporters that there is no evidence to suggest that Mr Mizuhara placed any bets on baseball games. Ohtani signed a record 10-year, $700m contract with the Dodgers before this season, becoming the face of the sports franchise. He had just won his second unanimous American League MVP award. His stint in the US started in 2018, and Mr Mizuhara had been a constant companion. He and his wife were recently seen in a picture that revealed Mr Ohtani's wife, Mamiko Tanaka, after weeks of speculation. Last month, Mr Ohtani told reporters at an LA Dodgers news conference: ""I'm very saddened and shocked that someone who I trusted has done this. ""Ippei has been stealing money from my account and has told lies,"" he said, speaking with the help of a different interpreter. ",BBC,11/04/2024,"[""US officials have charged baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, with stealing millions from the sports star."", 'The lead prosecutor in California accused Mr Mizuhara of impersonating Mr Ohtani to banks and to place wagers. ""', 'Mr Ohtani is considered a victim in this case,"" US Attorney Martin Estrada told reporters at a news conference in Los Angeles on Thursday.', 'Mr Mizuhara, 39, was fired last month as news of the alleged theft emerged.', ""Prosecutors claim that the interpreter used Mr Ohtani's money to place bets and deposited his winnings into an account that he controlled."", 'Between November 2021 and January 2024, officials said he wired more than $16m (£13m) in unauthorised transfers from Mr Ohtani\'s account. ""', 'Mr Mizuhara did all this to feed his insatiable appetite for illegal sports gambling,"" Mr Estrada said.', ""The charging document alleges that Mr Mizuhara, who acted as Mr Ohtani's de facto manager, took advantage of the fact that the Japanese sports star does not speak English."", 'It said he called bank officials and ""falsely identified himself as [Mr] Ohtani to trick employees into authorizing wire transfers from [Mr] Ohtani\'s bank account to associates of the illegal gambling operation"".', ""From January to March 2024, Mr Mizuhara also allegedly purchased $325,000 in baseball cards using money taken from Mr Ohtani's account."", 'An LA-based defence lawyer representing Mr Mizuhara declined to comment on the charges on Thursday.', 'Last week, Mr Ohtani sat for an interview with prosecutors and denied that he allowed the interpreter access to his finances. ""[', 'Mr] Ohtani provided his cellphone to law enforcement, who determined that there was no evidence to suggest that [Mr] Ohtani was aware of, or involved in, [Mr] Mizuhara\'s illegal gambling activity or payment of those debts,"" according to the prosecutor\'s statement.', 'The criminal charge of bank fraud carries a sentence of 30 years in federal prison.', 'The New York Times reports he is negotiating a plea deal with prosecutors.', 'Sports betting is legal in 38 states in America but it remains illegal in California.', 'Major League Baseball has its own policy that bans ""any player, umpire, or Club or League official or employee"" from betting on baseball games and placing bets with illegal bookmakers.', 'Mr Estrada on Thursday told reporters that there is no evidence to suggest that Mr Mizuhara placed any bets on baseball games.', 'Ohtani signed a record 10-year, $700m contract with the Dodgers before this season, becoming the face of the sports franchise.', 'He had just won his second unanimous American League MVP award.', 'His stint in the US started in 2018, and Mr Mizuhara had been a constant companion.', ""He and his wife were recently seen in a picture that revealed Mr Ohtani's wife, Mamiko Tanaka, after weeks of speculation."", 'Last month, Mr Ohtani told reporters at an LA Dodgers news conference: ""I\'m very saddened and shocked that someone who I trusted has done this. ""', 'Ippei has been stealing money from my account and has told lies,"" he said, speaking with the help of a different interpreter.']",-0.249301004809418,He had just won his second unanimous American League MVP award.,The criminal charge of bank fraud carries a sentence of 30 years in federal prison.,-0.2954469919204712,He had just won his second unanimous American League MVP award.,"Last month, Mr Ohtani told reporters at an LA Dodgers news conference: ""I'm very saddened and shocked that someone who I trusted has done this. """,2024-04-12 -Boeing's quarterly airplane deliveries drop to 83 amid safety crisis,https://www.cnbc.com/2024/04/09/boeing-airplane-deliveries-drop-during-q1-amid-safety-crisis.html,2024-04-09T17:21:00+0000,"In this articleBoeing airplane deliveries dropped in the first quarter to the lowest number since mid-2021 as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period. Solely in March, Boeing delivered 29 planes. Airbus said Tuesday that it delivered 142 planes in the first three months of the year, 63 of them in March.Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large jetliner market. The company logged orders for 111 for new planes last month when stripping out two cancellations, 85 of them 737 Max aircraft for American Airlines, which the carrier announced in early March.The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe. Federal accident investigators said the door plug was missing bolts that hold it in place. Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing output of the jets until it signs off on its quality control procedures.Boeing executives have said the company is slowing down its production to improve quality control and avoid so-called traveled work, when repairs or other tasks occur out of sequence.""We won't rush or go too fast,"" Boeing CFO Brian West said at a Bank of America conference last month. ""In fact, we're deliberately going to slow to get this right. And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready. And we'll feel the impact of that over the next several months.""Aircraft delivery delays sparked criticism from the CEOs of some of Boeing's biggest airline customers, and in its wake, CEO Dave Calhoun last month announced he will step down by year's end. Boeing also replaced its board chair and the head of its commercial airplane unit.Alaska Airlines said last week it received $160 million in compensation from Boeing in the first quarter stemming from a brief grounding of the plane after the accident.Boeing is scheduled to report first-quarter results and update investors on April 24.",CNBC,09/04/2024,"['In this articleBoeing airplane deliveries dropped in the first quarterto the lowest number since mid-2021as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.', 'The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period.', 'Solely in March, Boeing delivered 29 planes.', 'Airbus said Tuesday that it delivered 142 planes in the first three months of the year, 63 of them in March.', 'Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large jetliner market.', 'The company logged orders for 111 for new planes last month when stripping out two cancellations, 85 of them 737 Max aircraft for American Airlines, which the carrier announced in early March.', 'The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe.', 'Federal accident investigators said the door plug was missing bolts that hold it in place.', ""Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing output of the jets until it signs off on its quality control procedures."", 'Boeing executives have said the company is slowing down its production to improve quality control and avoid so-called traveled work, when repairs or other tasks occur out of sequence.', '""We won\'t rush or go too fast,"" Boeing CFO Brian West said at a Bank of America conference last month. ""', ""In fact, we're deliberately going to slow to get this right."", ""And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready."", ""And we'll feel the impact of that over the next several months."", '""Aircraft delivery delays sparked criticism from the CEOs of some of Boeing\'s biggest airline customers, and in its wake, CEO Dave Calhoun last month announced he will step down by year\'s end.', 'Boeing also replaced its board chair and the head of its commercial airplane unit.', 'Alaska Airlines said last week it received $160 million in compensation from Boeing in the first quarter stemming from a brief grounding of the plane after the accident.', 'Boeing is scheduled to report first-quarter results and update investors on April 24.']",-0.1149832774170058,And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready.,The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe.,-0.1954715847969055,"The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period.",In this articleBoeing airplane deliveries dropped in the first quarterto the lowest number since mid-2021as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.,2024-04-12 -Norfolk Southern reaches $600 million settlement to settle East Palestine derailment suit,https://edition.cnn.com/2024/04/09/investing/norfolk-southern-settlement/index.html," - Updated - 10:18 AM EDT, Tue April 9, 2024 - ","Norfolk Southern has reached a $600 million settlement that, if approved by a court, will resolve all lawsuits covering thousands of residents within 20 miles of the 2023 East Palestine, Ohio, derailment that spilled more than a million pounds of hazardous chemicals into the soil, water and air. - - The rail company said the settlement is intended to offset costs related to the spill that sent a plume of toxic smoke into the air and displaced many residents and businesses. But Norfolk Southern didn’t admit to any liability or wrongdoing as a result of the settlement. - - “Individuals and businesses will be able to use compensation from the settlement in any manner they see fit to address potential adverse impacts from the derailment,” the company said in a statement. “This could include healthcare needs and medical monitoring, property restoration and diminution, and compensation for any net business loss.” - - The settlement of the class-action lawsuit, which subsumed 31 separate cases, also allows residents within 10 miles of the derailment to receive additional compensation. - - In a court filing Tuesday, the plaintiffs said they expected to file a motion for the judge to approve the settlement within 10 days. Attorneys representing the claimants said they hope to make the claims process easy and efficient and to begin sending out payments by the end of 2024. - - “We believe this is a fair, reasonable and adequate result for the community on a number of levels, not the least of which is the speed of the resolution, and the overall amount of the awards residents can expect, which will be significant for those most impacted by the derailment,” said Seth Katz of Burg Simpson Eldredge Hersh & Jardine, M. Elizabeth Graham of Grant & Eisenhofer, Jayne Conroy of Simmons Hanly Conroy and T. Michael Morgan of Morgan & Morgan, in a combined statement. - - Following the February 3, 2023, Norfolk Southern freight train derailment, residents were ordered to evacuate temporarily. State and federal environmental officials say testing shows the air and water in the town is now safe, but some residents still complain of health problems, including burning sensations in their eyes, tingling in their lips, heaviness in their chest and swelling of lymph nodes in their necks and groins. - - Since then, the company says it has spent $104 million in community assistance to East Palestine and the surrounding areas, $4.3 million to upgrade the area’s drinking water infrastructure and $500,000 for economic development, among other contributions. East Palestine has a population of 5,000. - - But several class-action lawsuits say the company hasn’t done enough to remediate the toxic chemicals released into the area. They also blamed Norfolk Southern for negligence. - - The EPA’s latest update on the aftermath of the derailment notes that among several changes in the region’s environment, “deceased fish were observed by response staff in a sulfur run during routine stream monitoring” on April 5. The investigation determined that the fish were killed when swimming through pumps that are diverting water out of the sulfur run, and the EPA required Norfolk Southern to remediate the stream and determine a better plan. - - Among the questionable decisions the company made was a massive, controlled burn that released toxic chemicals into the air three days after the derailment. The rail company said there was an imminent risk of an uncontrolled explosion if the chemicals were not released and burned off. The officials on the ground who authorized the controlled burn were told they had only minutes to make the decision before an explosion. - - But the chair of the National Transportation Safety Board testified last month at a Senate hearing that the controlled burn was unnecessary. - - Shares of Norfolk Southern (NSC) fell 1.5%. - - This story has been updated with additional context and developments.",CNN,09/04/2024,"['Norfolk Southern has reached a $600 million settlement that, if approved by a court, will resolve all lawsuits covering thousands of residents within 20 miles of the 2023 East Palestine, Ohio, derailment that spilled more than a million pounds of hazardous chemicals into the soil, water and air.', 'The rail company said the settlement is intended to offset costs related to the spill that sent a plume of toxic smoke into the air and displaced many residents and businesses.', 'But Norfolk Southern didn’t admit to any liability or wrongdoing as a result of the settlement.', '“Individuals and businesses will be able to use compensation from the settlement in any manner they see fit to address potential adverse impacts from the derailment,” the company said in a statement. “', 'This could include healthcare needs and medical monitoring, property restoration and diminution, and compensation for any net business loss.”', 'The settlement of the class-action lawsuit, which subsumed 31 separate cases, also allows residents within 10 miles of the derailment to receive additional compensation.', 'In a court filing Tuesday, the plaintiffs said they expected to file a motion for the judge to approve the settlement within 10 days.', 'Attorneys representing the claimants said they hope to make the claims process easy and efficient and to begin sending out payments by the end of 2024.', '“We believe this is a fair, reasonable and adequate result for the community on a number of levels, not the least of which is the speed of the resolution, and the overall amount of the awards residents can expect, which will be significant for those most impacted by the derailment,” said Seth Katz of Burg Simpson Eldredge Hersh & Jardine, M. Elizabeth Graham of Grant & Eisenhofer, Jayne Conroy of Simmons Hanly Conroy and T. Michael Morgan of Morgan & Morgan, in a combined statement.', 'Following the February 3, 2023, Norfolk Southern freight train derailment, residents were ordered to evacuate temporarily.', 'State and federal environmental officials say testing shows the air and water in the town is now safe, but some residentsstill complain of health problems, including burning sensations in their eyes, tingling in their lips, heaviness in their chest and swelling of lymph nodes in their necks and groins.', 'Since then, the company says it has spent $104 million in community assistance to East Palestine and the surrounding areas, $4.3 million to upgrade the area’s drinking water infrastructure and $500,000 for economic development, among other contributions.', 'East Palestine has a population of 5,000.', 'But several class-action lawsuits say the company hasn’t done enough to remediate the toxic chemicals released into the area.', 'They also blamed Norfolk Southern for negligence.', 'The EPA’s latest updateon the aftermath of the derailment notes that among several changes in the region’s environment, “deceased fish were observed by response staff in a sulfur run during routine stream monitoring” on April 5.', 'The investigation determined that the fish were killed when swimming through pumps that are diverting water out of the sulfur run, and the EPA required Norfolk Southern to remediate the stream and determine a better plan.', 'Among the questionable decisions the company made was a massive, controlled burn that released toxic chemicals into the air three days after the derailment.', 'The rail company said there was an imminent risk of an uncontrolled explosion if the chemicals were not released and burned off.', 'The officials on the ground who authorized the controlled burn were told they had only minutes to make the decision before an explosion.', 'But the chair of the National Transportation Safety Board testified last month at a Senate hearing that the controlled burn was unnecessary.', 'Shares of Norfolk Southern (NSC) fell 1.5%.', 'This story has been updated with additional context and developments.']",0.0182368879056844,"“We believe this is a fair, reasonable and adequate result for the community on a number of levels, not the least of which is the speed of the resolution, and the overall amount of the awards residents can expect, which will be significant for those most impacted by the derailment,” said Seth Katz of Burg Simpson Eldredge Hersh & Jardine, M. Elizabeth Graham of Grant & Eisenhofer, Jayne Conroy of Simmons Hanly Conroy and T. Michael Morgan of Morgan & Morgan, in a combined statement.","State and federal environmental officials say testing shows the air and water in the town is now safe, but some residentsstill complain of health problems, including burning sensations in their eyes, tingling in their lips, heaviness in their chest and swelling of lymph nodes in their necks and groins.",0.142910361289978,Attorneys representing the claimants said they hope to make the claims process easy and efficient and to begin sending out payments by the end of 2024.,Shares of Norfolk Southern (NSC) fell 1.5%.,2024-04-12 -3G Capital quietly exited its Kraft Heinz investment last year,https://www.cnbc.com/2024/04/09/3g-capital-quietly-exited-its-kraft-heinz-investment-last-year.html,2024-04-09T13:05:13+0000,"In this articleBrazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.The sale marks the end of an era for 3G. The firm's influence over Kraft Heinz had been dwindling in recent years as its number of board seats slipped from three to none by July 2022.""3G has not been involved in the management of Kraft Heinz, nor have they been on the Board for several years. They had continued to be an investor and were treated as we do any investor,"" Kraft Heinz said in a statement to CNBC. ""We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023.""The company added that Buffett's Berkshire Hathaway, its largest shareholder with a 26.8% stake, is a committed long-term owner.3G did not immediately respond to a request for comment from CNBC.Berkshire and 3G's doomed romance began on Valentine's Day in 2013 when the two firms announced they were teaming up to take Heinz private. The merger with Kraft Foods followed two years later.The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.But the packaged food business presented new challenges. Consumers were shifting to eating more fresh food. Plus, retailers' private-label brands and newcomers touting themselves as a healthier option were stealing Big Food's shoppers. Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer.Then a disastrous quarter came for Kraft Heinz in 2019. In a single earnings report, the company slashed its dividend, disclosed a Securities and Exchange Commission investigation into its accounting practices and wrote down its brands by $15 billion.Several months later, Buffett told CNBC that Berkshire and 3G overpaid for Kraft Heinz, buoyed by optimism that its brands were more valuable than they actually were. Still, he stood by both 3G and Kraft Heinz. Other investors blamed 3G's aggressive cost cutting for the company's troubles.To reverse the company's downward spiral, 3G handpicked the food giant's new chief executive, an AB InBev veteran, and Kraft Heinz went into turnaround mode. The company announced plans to ramp up its marketing and advertising spending and shift its strategy for making new products. To reduce its exposure to private-label competition, it also sold its cheese business to Lactalis, a French dairy giant, and its Planters nuts brand to Hormel.In 2021, 3G founding partner Jorge Paulo Lemann stepped down from Kraft Heinz's board. The following year, fellow founding partner Alexandre Behring left the board. And two months after Behring's departure, 3G's final board member, former AB InBev CEO Joao Castro-Neves, also stepped down. Kraft Heinz disclosed his departure in a regulatory filing but no press release — or fanfare — accompanied it.3G had been periodically trimming its stake in Kraft Heinz since 2018. When it sold 25 million shares in 2019, at the height of the company's troubles, the stock fell 4% in response to the disclosure. In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.Last year, Kraft Heinz tapped Carlos Abrams-Rivera as its new chief executive. While he's been with the company since 2020, he's notably the company's first CEO without ties to 3G.",CNBC,09/04/2024,"['In this articleBrazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.', 'The sale marks the end of an era for 3G. The firm\'s influence over Kraft Heinz had been dwindling in recent years as its number of board seats slipped from three to none by July 2022.""3G has not been involved in the management of Kraft Heinz, nor have they been on the Board for several years.', 'They had continued to be an investor and were treated as we do any investor,"" Kraft Heinz said in a statement to CNBC. ""', 'We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023.""The company added that Buffett\'s Berkshire Hathaway, its largest shareholder with a 26.8% stake, is a committed long-term owner.3G did not immediately respond to a request for comment from CNBC.Berkshire and 3G\'s doomed romance began on Valentine\'s Day in 2013 when the two firms announced they were teaming up to take Heinz private.', 'The merger with Kraft Foods followed two years later.', 'The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.', 'But the packaged food business presented new challenges.', 'Consumers were shifting to eating more fresh food.', ""Plus, retailers' private-label brands and newcomers touting themselves as a healthier option were stealing Big Food's shoppers."", 'Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer.', 'Then a disastrous quarter came for Kraft Heinz in 2019.', 'In a single earnings report, the company slashed its dividend, disclosed a Securities and Exchange Commission investigation into its accounting practices and wrote down its brands by $15 billion.', 'Several months later, Buffett told CNBC that Berkshire and 3G overpaid for Kraft Heinz, buoyed by optimism that its brands were more valuable than they actually were.', 'Still, he stood by both 3G and Kraft Heinz.', ""Other investors blamed 3G's aggressive cost cutting for the company's troubles."", ""To reverse the company's downward spiral, 3G handpicked the food giant's new chief executive, an AB InBev veteran, and Kraft Heinz went into turnaround mode."", 'The company announced plans to ramp up its marketing and advertising spending and shift its strategy for making new products.', 'To reduce its exposure to private-label competition, it also sold its cheese business to Lactalis, a French dairy giant, and its Planters nuts brand to Hormel.', ""In 2021, 3G founding partner Jorge Paulo Lemann stepped down from Kraft Heinz's board."", 'The following year, fellow founding partner Alexandre Behring left the board.', ""And two months after Behring's departure, 3G's final board member, former AB InBev CEO Joao Castro-Neves, also stepped down."", 'Kraft Heinz disclosed his departure in a regulatory filing but no press release — or fanfare — accompanied it.3G had been periodically trimming its stake in Kraft Heinz since 2018.', ""When it sold 25 million shares in 2019, at the height of the company's troubles, the stock fell 4% in response to the disclosure."", 'In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.', 'Last year, Kraft Heinz tapped Carlos Abrams-Rivera as its new chief executive.', ""While he's been with the company since 2020, he's notably the company's first CEO without ties to 3G.""]",-0.0180330622793108,"The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.",Other investors blamed 3G's aggressive cost cutting for the company's troubles.,0.1386075570033146,"The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.",Then a disastrous quarter came for Kraft Heinz in 2019.,2024-04-12 -"Delta forecasts quarterly earnings ahead of expectations, focuses on efficiency as growth steadies",https://www.cnbc.com/2024/04/10/delta-air-lines-dal-q1-2024-earnings.html,2024-04-10T15:28:18+0000,"In this articleDelta Air Lines swung to a profit in the first quarter, and CEO Ed Bastian said bookings for both leisure and business travel are strong as the peak travel season approaches, despite persistent inflation.""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Bastian said in an interview.Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG, formerly known as Refinitiv. It said revenue in the current period could rise as much as 7%, ahead of analysts' estimates. Delta also reiterated its full-year forecast for $6 to $7 a share and free cash flow of between $3 billion and $4 billion.Business travel improved in the last quarter and solid demand is likely to continue, executives said, citing 14% growth in corporate travel sales. They called out the technology, consumer and financial services sectors as particularly strong.Delta has slowed hiring, like other carriers, after a massive spree in the wake of the pandemic, and is focusing more on efficiency. Bastian told CNBC that the company's headcount will likely be up low single digits this year compared with 2023.Here's how the company performed in the three months ended March 31, compared with Wall Street expectations based on consensus estimates from LSEG:The carrier made $37 million, or 6 cents per share, in the first three months of the year, up from a loss of $363 million, or 57 cents per share, in the year-earlier period, it said Wednesday. Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023.Revenue of $12.56 billion, adjusted to strip out refinery sales, was up 6% from last year, and slightly below analysts' expectations.Delta's unit cost, when stripping out fuel, rose 1.5% on the year. Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel. Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report.""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.",CNBC,10/04/2024,"['In this articleDelta Air Lines swung to a profit in the first quarter, and CEO Ed Bastian said bookings for both leisure and business travel are strong as the peak travel season approaches, despite persistent inflation.', '""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Bastian said in an interview.', 'Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG, formerly known as Refinitiv.', ""It said revenue in the current period could rise as much as 7%, ahead of analysts' estimates."", 'Delta also reiterated its full-year forecast for $6 to $7 a share and free cash flow of between $3 billion and $4 billion.', 'Business travel improved in the last quarter and solid demand is likely to continue, executives said, citing 14% growth in corporate travel sales.', 'They called out the technology, consumer and financial services sectors as particularly strong.', 'Delta has slowed hiring, like other carriers, after a massive spree in the wake of the pandemic, and is focusing more on efficiency.', ""Bastian told CNBC that the company's headcount will likely be up low single digits this year compared with 2023.Here's how the company performed in the three months ended March 31,compared with Wall Street expectations based on consensus estimates from LSEG:The carrier made $37 million, or 6 cents per share, in the first three months of the year, up from a loss of $363 million, or 57 cents per share, in the year-earlier period, it said Wednesday."", ""Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023.Revenue of $12.56 billion, adjusted to strip out refinery sales, was up 6% from last year, and slightly below analysts' expectations."", ""Delta's unit cost, when stripping out fuel, rose 1.5% on the year."", 'Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel.', ""Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report."", '""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.']",0.3776985509568563,"""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.",,0.6383908661929044,"Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel.","Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report.",2024-04-12 -US Steel’s shareholders just voted to end more than a century of American ownership. It may not matter,https://edition.cnn.com/2024/04/12/business/us-steel-nippon-steel-deal/index.html," - Updated - 2:48 PM EDT, Fri April 12, 2024 - ","US Steel shareholders Friday overwhelmingly approved a deal for the iconic American manufacturer to be purchased by Japan’s Nippon Steel. But the outlook for the controversial merger has never looked so bad. - - The deal is significant, not just for the future of what is still a key US industry central to building everything from cars to appliances to roads and bridges, it is also at the center of election year politics and relations between the United States and Japan, a major ally. - - The company announced that 98% of shares voted on the measure were in favor of the $14 billion deal. - - “The overwhelming support from our stockholders is a clear endorsement that they recognize the compelling rationale for our transaction with Nippon Steel,” said US Steel CEO David Burritt. “This is an important milestone. This transaction truly represents the best path forward for all of US Steel’s stakeholders – union and non-union employees, customers, communities and stockholders – and for the United States.” - - But the deal faces signficant opposition from the United Steelworkers union and politicians on both sides of the aisle. And for the deal to close, it needs approval from both the Justice Department, which enforces antitrust laws, and the normally low profile but powerful Committee on Foreign Investment in the United States, made up of members of the President Joe Biden’s cabinet, including the secretaries of Treasury, Commerce, Defense, State, Homeland Security and the Attorney General. - - And last month Biden came out publicly against the proposed deal. - - “It is important that we maintain strong American steel companies powered by American steelworkers,” he said. “US Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.” - - Experts said opposition from Biden and other politicians — both Republican and Democrats — make it unlikely the deal will win approval. - - “It’s readily apparent … that electoral politics has overwhelmed any serious evaluation of this deal’s national security risk,” said Michael Leiter, head of the CFIUS and national security practices at law firm Skadden, Arps, Slate, Meagher & Flom. “That’s regrettable, but if you’re a US Steel shareholder it is impossible to ignore when evaluating the diminishing likelihood of a successful sale.” - - Biden and Japanese Prime Minister Kishida Fumio, who is on a state visit to the United States this week, both dodged questions about the deal at a joint press conference Wednesday. - - “We understand that discussions are underway between the parties,” said Kishida. “We hope that discussion will unfold in a direction that will be positive for both sides. Japan believes that appropriate procedures based on law is being implemented by the US government.” - - “I stand by my commitment to American workers,” said Biden. “I’m a man of my word. I’m going to keep it. And in regards to that, I stand by our commitment to our alliance. This is exactly what we’re doing with a strong alliance as well.” - - A senior administration official, in a briefing with journalists before the prime minister’s visit, said the administration’s opposition to the deal shouldn’t hurt relations between the countries. - - “The relationship between the United States and Japan is far bigger and more significant than a single commercial deal,” said the official, who spoke on background. “Six weeks ago, the United States gave Mitsui, a Japanese company, a $20 billion deal to build a crane factory here in the United States and replace all our port cranes throughout the United States. Nothing says ‘trusted ally’ like a $20 billion contract with a Japanese company. - - “Everybody understands where we are,” the senior official continued. “We’re in a different place fundamentally. And I just think that this single commercial transaction does not define not only the visit, but the relationship.” - - In his statement last month, Biden acknowledged that opposition to the deal by the United Steelworkers union was part of the reason for his decision. - - “I told our steelworkers I have their backs, and I meant it,” he said. - - And a week after Biden came out against the deal, the USW endorsed Biden for re-election. - - It’s not just Biden opposing the deal. Numerous Republicans, including Ohio Senator JD Vance, have also denounced the deal, and this week charged that US Steel misled shareholders when seeking support for the deal because it failed “to accurately convey the significant political obstacles and regulatory risks the merger faces.” - - Shares of US Steel stock plunged Thursday in the wake of Biden’s comment, closing 23% below Nippon’s $55 a share asking price. It made shareholder approval a virtual certainty ahead of the vote, said Phil Gibbs, steel analyst with KeyBanc, even if the deal is eventually blocked. Share were down nearly 3% in afternoon trading Friday even after the vote. - - “The stock was trading at $20 a share not long ago. Of course they they think it’s a great deal,” he said. - - If the deal ends up being blocked, it’s not clear what happens next. - - The nation’s automakers wrote to the White House after Biden announced his opposition to the Nippon-US Steel deal to say a Cleveland Cliffs-US Steel deal would place 65% to 90% of steel used in vehicles under the control of a single company. It said it therefore supported the Nippon deal for US Steel instead. - - US Steel rival Cleveland Cliffs, the nation’s other major unionized steelmaker, tried to buy US Steel last summer, only to have its $32.53 a share cash-and-stock offer rejected by the company. And Gibbs said despite the support such a deal would have from the USW, it’s not clear it would be able to win approval from antitrust regulators. - - “American jobs … rely on a fair and competitive steel industry too,” the auto industry trade group said in its letter to the White House. “If the administration has concerns about the Nippon Steel deal, it must seriously consider alternative outcomes. One option that should not be on the table is an arrangement that creates a market concentration of domestic steel production in a single company.” - - Neither US Steel nor Cleveland Cliffs are the largest American steel company today. That would be Nucor, which makes steel with electric furnaces that melt scrap and other raw materials, rather than with the massive blast furnaces used by US Steel and Cleveland Cliffs. - - Electric furnaces are more efficient, both in energy use and labor needed, than traditional integrated steel mills that use blast furnaces to make steel from raw materials like iron ore. But Nucor and other steelmakers using electric furnaces have been unable to produce the quality of steel needed by the auto industry — despite decades of trying — partly because their business model means its more profitable to make mass quantities of lower grade steel, said Gibbs. - - “Auto steel is still a relatively niche product,” he said. “I think new mills are working in that direction. But it’s not something they can do overnight. Nucor has been working on this for a long time.” - - He said Nucor could make automotive quality steel, but it just can’t make much money doing it. - - “In this market, it hasn’t been a good use of their time,” he said. - - US Steel has purchased its own electric furnaces to make steel in Arkansas, a nonunion operation that is valued more highly by Nippon in this deal than its unionized blast furnace operations, to which it has assigned relatively little value. - - That’s a major reason the USW so strongly opposes the deal, the fear that Nippon would eventually close the blast furnaces operations that employ its members. Nippon insists it will honor US Steel’s contracts with the union should the deal go through. - - US Steel said last month in the wake of Biden’s comments that it is still hopeful the deal will be approved and close. - - “The President said he has the backs of the steelworkers. So do we,” US Steel said in a statement. “As part of this investment to grow US Steel and the American steel market, it has been made clear that there will be no job losses, no plant closures and no transfer of production resulting from this transaction.” - - “US Steel’s union commitments will be honored and benefit from increased financial strength. US Steel products, supported by significant capital investments from Nippon Steel, will remain mined, melted and made in America,” the company said. “We strongly believe this is the best path forward for employees, customers, stockholders and the United States.” - - But the USW said there is nothing in the negotiation behind the deal that would lead it to trust either company to live up to its commitments. It said a letter it received last month from Nippon was “nothing more than another collection of empty promises and open-ended language that would enable it to skirt obligations to workers and retirees.” - - “Essentially, the loss of critical natural resources and the loss of capital needed to produce it is a national security issue,” said KeyBanc’s Gibbs. “It’s a building block for anything you want to do from infrastructure to consumer durables.” - - The national security concerns of the union and politicians opposed to the deal are legitimate, even if steel isn’t thought of as a military asset the way computer chips or other technology might be, according to Gibbs. The loss of the ability to make steel from raw materials — and have the workers trained to make that steel — would have a significant impact, he said. - - And given the election year politics, the USW and its ally at Cleveland Cliffs have a fair amount of leverage in fighting this deal, said Gibbs. - - “I don’t think the union has held this much leverage in a transaction like this. It’s decided it might as well use it,” he said.",CNN,12/04/2024,"['US Steel shareholders Friday overwhelmingly approved a deal for the iconic American manufacturer to be purchased by Japan’s Nippon Steel.', 'But the outlook for the controversial merger has never looked so bad.', 'The deal is significant, not just for the future of what is still a key US industry central to building everything from cars to appliances to roads and bridges, it is also at the center of election year politics and relations between the United States and Japan, a major ally.', 'The company announced that 98% of shares voted on the measure were in favor of the $14 billion deal.', '“The overwhelming support from our stockholders is a clear endorsement that they recognize the compelling rationale for our transaction with Nippon Steel,” said US Steel CEO David Burritt. “', 'This is an important milestone.', 'This transaction truly represents the best path forward for all of US Steel’s stakeholders – union and non-union employees, customers, communities and stockholders – and for the United States.”', 'But the deal faces signficant opposition from the United Steelworkers union and politicians on both sides of the aisle.', 'And for the deal to close, it needs approval from both the Justice Department, which enforces antitrust laws, and the normally low profile but powerful Committee on Foreign Investment in the United States, made up of members of the President Joe Biden’s cabinet, including the secretaries of Treasury, Commerce, Defense, State, Homeland Security and the Attorney General.', 'And last month Biden came out publicly against the proposed deal.', '“It is important that we maintain strong American steel companies powered by American steelworkers,” he said. “', 'US Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.”', 'Experts said opposition from Biden and other politicians — both Republican and Democrats — make it unlikely the deal will win approval.', '“It’s readily apparent … that electoral politics has overwhelmed any serious evaluation of this deal’s national security risk,” said Michael Leiter, head of the CFIUS and national security practices at law firm Skadden, Arps, Slate, Meagher & Flom. “', 'That’s regrettable, but if you’re a US Steel shareholder it is impossible to ignore when evaluating the diminishing likelihood of a successful sale.”', 'Biden and Japanese Prime Minister Kishida Fumio, who is on a state visit to the United States this week, both dodged questions about the deal at a joint press conference Wednesday.', '“We understand that discussions are underway between the parties,” said Kishida. “', 'We hope that discussion will unfold in a direction that will be positive for both sides.', 'Japan believes that appropriate procedures based on law is being implemented by the US government.”', '“I stand by my commitment to American workers,” said Biden. “', 'I’m a man of my word.', 'I’m going to keep it.', 'And in regards to that, I stand by our commitment to our alliance.', 'This is exactly what we’re doing with a strong alliance as well.”', 'A senior administration official, in a briefing with journalists before the prime minister’s visit, said the administration’s opposition to the deal shouldn’t hurt relations between the countries.', '“The relationship between the United States and Japan is far bigger and more significant than a single commercial deal,” said the official, who spoke on background. “', 'Six weeks ago, the United States gave Mitsui, a Japanese company, a $20 billion deal to build a crane factory here in the United States and replace all our port cranes throughout the United States.', 'Nothing says ‘trusted ally’ like a $20 billion contract with a Japanese company.', '“Everybody understands where we are,” the senior official continued. “', 'We’re in a different place fundamentally.', 'And I just think that this single commercial transaction does not define not only the visit, but the relationship.”', 'In his statement last month, Biden acknowledged that opposition to the deal by the United Steelworkers union was part of the reason for his decision.', '“I told our steelworkers I have their backs, and I meant it,” he said.', 'And a week after Biden came out against the deal, the USW endorsed Biden for re-election.', 'It’s not just Biden opposing the deal.', 'Numerous Republicans, including Ohio Senator JD Vance, have also denounced the deal, and this week charged that US Steel misled shareholders when seeking support for the deal because it failed “to accurately convey the significant political obstacles and regulatory risks the merger faces.”', 'Shares of US Steel stock plunged Thursday in the wake of Biden’s comment, closing 23% below Nippon’s $55 a share asking price.', 'It made shareholder approval a virtual certainty ahead of the vote, said Phil Gibbs, steel analyst with KeyBanc, even if the deal is eventually blocked.', 'Share were down nearly 3% in afternoon trading Friday even after the vote.', '“The stock was trading at $20 a share not long ago.', 'Of course they they think it’s a great deal,” he said.', 'If the deal ends up being blocked, it’s not clear what happens next.', 'The nation’s automakers wrote to the White House after Biden announced his opposition to the Nippon-US Steel deal to say a Cleveland Cliffs-US Steel deal would place 65% to 90% of steel used in vehicles under the control of a single company.', 'It said it therefore supported the Nippon deal for US Steel instead.', 'US Steel rival Cleveland Cliffs, the nation’s other major unionized steelmaker, tried to buy US Steel last summer, only to have its $32.53 a share cash-and-stock offer rejected by the company.', 'And Gibbs said despite the support such a deal would have from the USW, it’s not clear it would be able to win approval from antitrust regulators.', '“American jobs … rely on a fair and competitive steel industry too,” the auto industry trade group said in its letter to the White House. “', 'If the administration has concerns about the Nippon Steel deal, it must seriously consider alternative outcomes.', 'One option that should not be on the table is an arrangement that creates a market concentration of domestic steel production in a single company.”', 'Neither US Steel nor Cleveland Cliffs are the largest American steel company today.', 'That would be Nucor, which makes steel with electric furnaces that melt scrap and other raw materials, rather than with the massive blast furnaces used by US Steel and Cleveland Cliffs.', 'Electric furnaces are more efficient, both in energy use and labor needed, than traditional integrated steel mills that use blast furnaces to make steel from raw materials like iron ore.', 'But Nucor and other steelmakers using electric furnaces have been unable to produce the quality of steel needed by the auto industry — despite decades of trying — partly because their business model means its more profitable to make mass quantities of lower grade steel, said Gibbs.', '“Auto steel is still a relatively niche product,” he said. “', 'I think new mills are working in that direction.', 'But it’s not something they can do overnight.', 'Nucor has been working on this for a long time.”', 'He said Nucor could make automotive quality steel, but it just can’t make much money doing it.', '“In this market, it hasn’t been a good use of their time,” he said.', 'US Steel has purchased its own electric furnaces to make steel in Arkansas, a nonunion operation that is valued more highly by Nippon in this deal than its unionized blast furnace operations, to which it has assigned relatively little value.', 'That’s a major reason the USW so strongly opposes the deal, the fear that Nippon would eventually close the blast furnaces operations that employ its members.', 'Nippon insists it will honor US Steel’s contracts with the union should the deal go through.', 'US Steel said last month in the wake of Biden’s comments that it is still hopeful the deal will be approved and close.', '“The President said he has the backs of the steelworkers.', 'So do we,” US Steel said in a statement. “', 'As part of this investment to grow US Steel and the American steel market, it has been made clear that there will be no job losses, no plant closures and no transfer of production resulting from this transaction.”', '“US Steel’s union commitments will be honored and benefit from increased financial strength.', 'US Steel products, supported by significant capital investments from Nippon Steel, will remain mined, melted and made in America,” the company said. “', 'We strongly believe this is the best path forward for employees, customers, stockholders and the United States.”', 'But the USW said there is nothing in the negotiation behind the deal that would lead it to trust either company to live up to its commitments.', 'It said a letter it received last month from Nippon was “nothing more than another collection of empty promises and open-ended language that would enable it to skirt obligations to workers and retirees.”', '“Essentially, the loss of critical natural resources and the loss of capital needed to produce it is a national security issue,” said KeyBanc’s Gibbs. “', 'It’s a building block for anything you want to do from infrastructure to consumer durables.”', 'The national security concerns of the union and politicians opposed to the deal are legitimate, even if steel isn’t thought of as a military asset the way computer chips or other technology might be, according to Gibbs.', 'The loss of the ability to make steel from raw materials — and have the workers trained to make that steel — would have a significant impact, he said.', 'And given the election year politics, the USW and its ally at Cleveland Cliffs have a fair amount of leverage in fighting this deal, said Gibbs.', '“I don’t think the union has held this much leverage in a transaction like this.', 'It’s decided it might as well use it,” he said.']",0.2650053086039445,"And for the deal to close, it needs approval from both the Justice Department, which enforces antitrust laws, and the normally low profile but powerful Committee on Foreign Investment in the United States, made up of members of the President Joe Biden’s cabinet, including the secretaries of Treasury, Commerce, Defense, State, Homeland Security and the Attorney General.","As part of this investment to grow US Steel and the American steel market, it has been made clear that there will be no job losses, no plant closures and no transfer of production resulting from this transaction.”",0.2227526955744799,“US Steel’s union commitments will be honored and benefit from increased financial strength.,"Shares of US Steel stock plunged Thursday in the wake of Biden’s comment, closing 23% below Nippon’s $55 a share asking price.",2024-04-12 -Children’s ‘Yoto Mini’ speaker recalled for burn and fire hazards,https://edition.cnn.com/2024/04/11/business/yoto-mini-speaker-recall/index.html," - Published - 5:22 PM EDT, Thu April 11, 2024 - ","A children’s mini speaker is being recalled for potential burn and fire hazards. - - The Consumer Product Safety Commission announced April 11 that the Yoto Mini speaker for children is being voluntarily recalled because of a lithium-ion battery that can overheat and catch fire, posing burn and fire risks. - - Parents are advised to remove the Yoto Mini from their children’s reach immediately, but recalled units do not need to be discarded. - - Those who own the speaker should contact Yoto to receive a free Yoto Mini Smart Cable, which can charge the speaker battery to a safe level, Yoto said in a statement. - - The speaker was sold with a charging cable, but no adaptor or charger. Consumers should cut the charging cable through the middle and upload a photo to the Yoto website with their email and Yoto Mini serial number, located on the speaker’s base. Once uploaded, consumers will be eligible for the free smart cable. - - “Anyone who has a Yoto Mini can now register to receive one Yoto Mini Smart Cable per device through our dedicated website. The Yoto Mini Smart Cable will keep the battery charge within safe limits and prevent it potentially overheating by stopping charging when it reaches a certain point,” the company said in a statement. - - Yoto also said it implemented an automatic software update across all Yoto Mini speakers to “improve battery management,” according to a company statement. - - “We apologize for the inconvenience and concern this issue may cause our customers and would like to reassure them the safety of our products is our absolute priority,” the company said in a statement. - - The Yoto Mini is a Bluetooth speaker intended for children ages 3 to 12 and can be used to play audiobooks, music, radio and podcasts. - - The speaker is used with physical Yoto cards that slide into the speaker device and correspond to different audio, including audiobooks and songs. - - No injuries have been reported. Yoto received seven reports — six from US consumers and one from a UK consumer — about the speaker overheating or melting, according to the CPSC. - - About 251,165 speakers are subject to the recall in the United States and about 18,932 are subject to the recall in Canada. - - The speaker is sold online at us.yotoplay.com, maisonette.com and major retailers like Amazon.com and Target.com. The speaker was sold in toy and gift stores nationwide from November 2021 to April 2024. - - The recalled units have the SKU PRPLXX00860 on the base of the product.",CNN,11/04/2024,"['A children’s mini speaker is being recalled for potential burn and fire hazards.', 'The Consumer Product Safety Commission announced April 11 that the Yoto Mini speaker for children is being voluntarily recalled because of a lithium-ion battery that can overheat and catch fire, posing burn and fire risks.', 'Parents are advised to remove the Yoto Mini from their children’s reach immediately, but recalled units do not need to be discarded.', 'Those who own the speaker should contact Yoto to receive a free Yoto Mini Smart Cable, which can charge the speaker battery to a safe level, Yoto said in a statement.', 'The speaker was sold with a charging cable, but no adaptor or charger.', 'Consumers should cut the charging cable through the middle and upload a photo to the Yoto website with their email and Yoto Mini serial number, located on the speaker’s base.', 'Once uploaded, consumers will be eligible for the free smart cable.', '“Anyone who has a Yoto Mini can now register to receive one Yoto Mini Smart Cable per device through our dedicated website.', 'The Yoto Mini Smart Cable will keep the battery charge within safe limits and prevent it potentially overheating by stopping charging when it reaches a certain point,” the company said in a statement.', 'Yoto also said it implemented an automatic software update across all Yoto Mini speakers to “improve battery management,” according to a company statement.', '“We apologize for the inconvenience and concern this issue may cause our customers and would like to reassure them the safety of our products is our absolute priority,” the company said in a statement.', 'The Yoto Mini is a Bluetooth speaker intended for children ages 3 to 12 and can be used to play audiobooks, music, radio and podcasts.', 'The speaker is used with physical Yoto cards that slide into the speaker device and correspond to different audio, including audiobooks and songs.', 'No injuries have been reported.', 'Yoto received seven reports — six from US consumers and one from a UK consumer — about the speaker overheating or melting, according to the CPSC.', 'About 251,165 speakers are subject to the recall in the United States and about 18,932 are subject to the recall in Canada.', 'The speaker is sold online at us.yotoplay.com, maisonette.com and major retailers like Amazon.com and Target.com.', 'The speaker was sold in toy and gift stores nationwide from November 2021 to April 2024.', 'The recalled units have the SKU PRPLXX00860 on the base of the product.']",0.1858975201998313,"Those who own the speaker should contact Yoto to receive a free Yoto Mini Smart Cable, which can charge the speaker battery to a safe level, Yoto said in a statement.","The Consumer Product Safety Commission announced April 11 that the Yoto Mini speaker for children is being voluntarily recalled because of a lithium-ion battery that can overheat and catch fire, posing burn and fire risks.",-0.2357828617095947,"Yoto also said it implemented an automatic software update across all Yoto Mini speakers to “improve battery management,” according to a company statement.","The Consumer Product Safety Commission announced April 11 that the Yoto Mini speaker for children is being voluntarily recalled because of a lithium-ion battery that can overheat and catch fire, posing burn and fire risks.",2024-04-12 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-04-12 -Over 65 and still working or looking for work?,https://edition.cnn.com/2024/04/09/economy/over-65-and-still-working-or-looking-for-work/index.html," - Published - 5:07 PM EDT, Tue April 9, 2024 - ","Are you 65 or older and still working or looking for work? CNN wants to hear about your experience. - - Americans are working later into their life as uncertainty over retirement grows. Now, some financial titans like BlackRock’s Larry Fink say the US should rethink retirement altogether. - - We want to hear about your experiences. What does your job search look like? How has your day-to-day work changed? What does financial stability mean to you? - - Let us know in the box below.",CNN,09/04/2024,"['Are you 65 or older and still working or looking for work?', 'CNN wants to hear about your experience.', 'Americans are working later into their life as uncertainty over retirement grows.', 'Now, some financial titans like BlackRock’s Larry Fink say the US should rethink retirement altogether.', 'We want to hear about your experiences.', 'What does your job search look like?', 'How has your day-to-day work changed?', 'What does financial stability mean to you?', 'Let us know in the box below.']",0.0510659327908029,"Now, some financial titans like BlackRock’s Larry Fink say the US should rethink retirement altogether.",Americans are working later into their life as uncertainty over retirement grows.,,,,2024-04-12 -Could AI take the grind out of accountancy?,https://www.bbc.co.uk/news/business-68553123,2024-03-26T00:24:13.000Z,"Owen Hewitt, is a trainee chartered accountant at accountancy firm haysmacintyre. He's two years into his training with more exams coming up this year. What's unusual about him and his peers, is that they will be the first generation of accountants to use artificial intelligence (AI) right from the beginning of their careers. Mr Hewitt is hoping that AI will take over some of the more tedious parts of the job. ""These (AI) can remove the burden of the more time-consuming tasks, like analysis of financial data,"" says Mr Hewitt. That leaves the humans to focus on more subjective - and more interesting - decisions, like whether a business is viable, or whether debts are likely to be paid. ""Whilst AI can learn from data and make predictions, it can't yet replace the human judgement required to weigh up different variables and make an informed decision,"" he says. So, AI is increasingly being used for routine and time-consuming tasks such as summarising documents, creating content, drafting documentation, advanced searching, analytics and insight and knowledge management - often work done by more junior accountancy staff. ""When you look at some of the tasks that auditors were doing - some of the boring, mundane tasks around churning data and manipulating it into a format where you can then actually do something valuable with it - that's where artificial intelligence can play a really big part,"" says Matthew Campbell, audit chief technology officer for KPMG UK. Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs. According to a KPMG survey, four in 10 senior audit professionals expect that the increased efficiency that AI can bring will lead to a reduction in the size of auditing teams. Already, many manual audit and reporting tasks have been outsourced to other countries, with most major banks in the UK now having taken on large numbers of qualified accountants in India, who perform a significant proportion of month-end financial reporting tasks. This, says Alex King, founder and chartered accountant at finance platform Generation Money, means that junior accountants working in audit will need to focus more on client-facing skills. ""Generally, the nature of a junior accountant's role is likely to change more towards systems management - overseeing AI powered software and databases - and relationship management, and away from the traditional reconciliations and ledgers work,"" he says. As a result, training programmes are changing. ""We're still recruiting a number of people, graduates, and we're also recruiting a number of apprentices. I think what will change over time is the skillsets of some of those individuals,"" says Mr Campbell. ""We're already starting to see that, so we've invested in putting a number of our auditors through a master's degree in applied data science, so they can take that auditing and accounting knowledge with their data science skills knowledge, to really bring the best of those skills together."" The accountancy industry has seen some high-profile failures in recent years. In March, KPMG was fined £1.5m for failings in its 2019 audit of advertising agency M&C Saatchi. And it's not alone in making errors. Last summer, a report from the US Public Company Accounting Oversight Board (PCAOB) found that four in 10 audits conducted by global accounting firms had significant flaws, and that the proportion was rising rapidly. Meanwhile, the UK's accountancy regulator, the Financial Reporting Council (FRC), carried out 19 investigations in the 2022-2023 financial year, slapping fines of £40.5 million on auditing firms and their clients for audit failings. As a result, auditing firms are now under great scrutiny; and to tighten up their procedures, many are turning to AI. ""As generative AI plays a more prominent role in contributing to first drafts of content, the human auditor role can be elevated to focus on areas of judgment and challenge,"" says Marc Bena, digital audit leader at PwC UK. ""The ability to analyse data at a much larger scale also means we can perform better risk assessments and analysis."" AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client. KPMG itself uses AI for high-risk transactions to look for such anomalies, such as the posting of unusual amounts, postings made by somebody unusual or postings made at a weekend. ""We get to a point where it's a truly data-driven audit, where we identify the risks from within a population of data and use that to help focus our audit efforts on the most complex, the high-risk, the most judgmental areas,"" says Mr Campbell. More technology of business As for more high-level jobs, AI may help here too. Auditing firms have been finding it hard to retain talent, with 90% of auditors telling Caseware last year that it is either somewhat or extremely difficult. Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper. However, 86% of auditing staff agreed that AI helps cut down time on repetitive task - and 83% said they'd be more inclined to stay at a company with AI initiatives in place. ""They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation,"" says Mr Campbell. ""The bits of their role that it's taking away is stuff that they weren't enjoying."" ",BBC,26/03/2024,"['Owen Hewitt, is a trainee chartered accountant at accountancy firm haysmacintyre.', ""He's two years into his training with more exams coming up this year."", ""What's unusual about him and his peers, is that they will be the first generation of accountants to use artificial intelligence (AI) right from the beginning of their careers."", 'Mr Hewitt is hoping that AI will take over some of the more tedious parts of the job. ""', 'These (AI) can remove the burden of the more time-consuming tasks, like analysis of financial data,"" says Mr Hewitt.', 'That leaves the humans to focus on more subjective - and more interesting - decisions, like whether a business is viable, or whether debts are likely to be paid. ""', 'Whilst AI can learn from data and make predictions, it can\'t yet replace the human judgement required to weigh up different variables and make an informed decision,"" he says.', 'So, AI is increasingly being used for routine and time-consuming tasks such as summarising documents, creating content, drafting documentation, advanced searching, analytics and insight and knowledge management - often work done by more junior accountancy staff. ""', 'When you look at some of the tasks that auditors were doing - some of the boring, mundane tasks around churning data and manipulating it into a format where you can then actually do something valuable with it - that\'s where artificial intelligence can play a really big part,"" says Matthew Campbell, audit chief technology officer for KPMG UK.', ""Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs."", 'According to a KPMG survey, four in 10 senior audit professionals expect that the increased efficiency that AI can bring will lead to a reduction in the size of auditing teams.', 'Already, many manual audit and reporting tasks have been outsourced to other countries, with most major banks in the UK now having taken on large numbers of qualified accountants in India, who perform a significant proportion of month-end financial reporting tasks.', 'This, says Alex King, founder and chartered accountant at finance platform Generation Money, means that junior accountants working in audit will need to focus more on client-facing skills. ""', 'Generally, the nature of a junior accountant\'s role is likely to change more towards systems management - overseeing AI powered software and databases - and relationship management, and away from the traditional reconciliations and ledgers work,"" he says.', 'As a result, training programmes are changing. ""', ""We're still recruiting a number of people, graduates, and we're also recruiting a number of apprentices."", 'I think what will change over time is the skillsets of some of those individuals,"" says Mr Campbell. ""', 'We\'re already starting to see that, so we\'ve invested in putting a number of our auditors through a master\'s degree in applied data science, so they can take that auditing and accounting knowledge with their data science skills knowledge, to really bring the best of those skills together.""', 'The accountancy industry has seen some high-profile failures in recent years.', 'In March, KPMG was fined £1.5m for failings in its 2019 audit of advertising agency M&C Saatchi.', ""And it's not alone in making errors."", 'Last summer, a report from the US Public Company Accounting Oversight Board (PCAOB) found that four in 10 audits conducted by global accounting firms had significant flaws, and that the proportion was rising rapidly.', ""Meanwhile, the UK's accountancy regulator, the Financial Reporting Council (FRC), carried out 19 investigations in the 2022-2023 financial year, slapping fines of £40.5 million on auditing firms and their clients for audit failings."", 'As a result, auditing firms are now under great scrutiny; and to tighten up their procedures, many are turning to AI. ""', 'As generative AI plays a more prominent role in contributing to first drafts of content, the human auditor role can be elevated to focus on areas of judgment and challenge,"" says Marc Bena, digital audit leader at PwC UK. ""', 'The ability to analyse data at a much larger scale also means we can perform better risk assessments and analysis.""', 'AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client.', 'KPMG itself uses AI for high-risk transactions to look for such anomalies, such as the posting of unusual amounts, postings made by somebody unusual or postings made at a weekend. ""', 'We get to a point where it\'s a truly data-driven audit, where we identify the risks from within a population of data and use that to help focus our audit efforts on the most complex, the high-risk, the most judgmental areas,"" says Mr Campbell.', 'More technology of business As for more high-level jobs, AI may help here too.', 'Auditing firms have been finding it hard to retain talent, with 90% of auditors telling Caseware last year that it is either somewhat or extremely difficult.', 'Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper.', 'However, 86% of auditing staff agreed that AI helps cut down time on repetitive task - and 83% said they\'d be more inclined to stay at a company with AI initiatives in place. ""', 'They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation,"" says Mr Campbell. ""', 'The bits of their role that it\'s taking away is stuff that they weren\'t enjoying.""']",0.1626808889918358,"AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client.","Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs.",0.3071964780489604,"Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper.","Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs.",2024-04-12 -Moderna halts plans to build Kenya vaccine plant as Covid shot demand plunges,https://www.cnbc.com/2024/04/11/moderna-halts-kenya-vaccine-plant-plans-as-covid-shot-demand-plunges.html,2024-04-11T17:23:43+0000,"In this articleModerna on Thursday said it has paused plans to build a vaccine-manufacturing site in Kenya after a steep drop in demand for its Covid vaccines.The biotech company said it has not received any vaccine orders for Africa since 2022 and has taken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.Moderna's decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint. The company's business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus.Shares of Moderna fell 45% last year, but the stock is up around 6% this year.In March 2022, the company said it would invest about $500 million in the Kenyan site and supply as many as 500 million doses of its messenger RNA vaccines to Africa each year. Moderna also had plans to start filling doses of its Covid vaccine in the continent as early as 2023.But the company has since determined that demand in Africa ""is insufficient to support the viability of the factory planned in Kenya,"" Moderna said in a statement on Thursday. Still, the company said it is committed to ""ensuring equitable access and meeting emerging demands from African nations"" for its Covid shot through its global manufacturing network.""The company said it is also working to develop vaccines for diseases that predominantly affect the African continent, such as HIV and malaria. Those shots are part of Moderna's broader effort to expand access to vaccines that are out of reach in many parts of the world.But those jabs are still in the early stages of development, the company noted.""Given this, and in alignment with our strategic planning, Moderna believes it is prudent to pause its efforts to build an mRNA manufacturing facility in Kenya,"" the company said in a statement. ""This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.""",CNBC,11/04/2024,"['In this articleModerna on Thursday said it has paused plans to build a vaccine-manufacturing site in Kenya after a steep drop in demand for its Covid vaccines.', 'The biotech company said it has not received any vaccine orders for Africa since 2022 and hastaken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.', ""Moderna's decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint."", ""The company's business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus."", 'Shares of Moderna fell 45% last year, but the stock is up around 6% this year.', 'In March 2022, thecompany said it would invest about $500 million in the Kenyan site and supply as many as 500 million doses of its messenger RNA vaccines to Africa each year.', 'Moderna also had plans to start filling doses of its Covid vaccine in the continent as early as 2023.But the company has since determined that demand in Africa ""is insufficient to support the viability of the factory planned in Kenya,"" Moderna said in a statement on Thursday.', 'Still, the company said it is committed to ""ensuring equitable access and meeting emerging demands from African nations"" for its Covid shot through its global manufacturing network.', '""The company said it is also working to develop vaccines for diseases that predominantly affect the African continent, such as HIV and malaria.', ""Those shots are part of Moderna's broader effort to expand access to vaccines that are out of reach in many parts of the world."", 'But those jabs are still in the early stages of development, the company noted.', '""Given this, and in alignment with our strategic planning, Moderna believes it is prudent to pause its efforts to build an mRNA manufacturing facility in Kenya,"" the company said in a statement. ""', 'This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.""']",0.0669186493272792,"Moderna also had plans to start filling doses of its Covid vaccine in the continent as early as 2023.But the company has since determined that demand in Africa ""is insufficient to support the viability of the factory planned in Kenya,"" Moderna said in a statement on Thursday.",The biotech company said it has not received any vaccine orders for Africa since 2022 and hastaken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.,0.1065106987953186,"This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.""","The company's business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus.",2024-04-12 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-04-12 -Taylor Swift: Artist's music back on TikTok after dispute,https://www.bbc.co.uk/news/entertainment-arts-68794119,2024-04-11T19:35:26.000Z,"Taylor Swift's songs are back on TikTok following a dispute that led her label to stop licensing its content to the app. Her music's return on Thursday comes ahead of the release of her new album, The Tortured Poets Department. Universal Music pulled songs by its artists in January, including Rihanna and Ariana Grande, citing a licensing dispute. Many artists have complained about inadequate royalties from TikTok. While many of her songs - including You Belong With Me and Cruel Summer - are again available for users to add to their videos, music belonging to Universal's other artists has still not been relisted. That may be because unlike other artists, Swift owns the copyright to her music under the terms of a 2018 deal with Universal. Some reports speculated Swift reached a separate deal with TikTok. ""Swifties"" - Taylor Swift fans - took to the platform to share their delight at her music returning. ""OMG this made my whole year,"" wrote verified user Jessica Golich, adding that users would ""have the whole new album to play with"". Divendra Rai recorded a video lip syncing to Cruel Summer, captioned: ""Welcome back Taylor!!!"" In an open letter published on 30 January, Universal claimed that ""ultimately TikTok is trying to build a music-based business, without paying fair value for the music"". Universal said it was also concerned about getting fair compensation for artists for AI-generated songs made to sound like the real thing, such as one made to sound like Drake and The Weeknd which went viral. Swift announced her upcoming album while accepting her 13th Grammy award earlier this year. The Tortured Poets Department, which will be released on 19 April, is her 11th album. The BBC has contacted Universal and TikTok for comment. ",BBC,11/04/2024,"[""Taylor Swift's songs are back on TikTok following a dispute that led her label to stop licensing its content to the app."", ""Her music's return on Thursday comes ahead of the release of her new album, The Tortured Poets Department."", 'Universal Music pulled songs by its artists in January, including Rihanna and Ariana Grande, citing a licensing dispute.', 'Many artists have complained about inadequate royalties from TikTok.', ""While many of her songs - including You Belong With Me and Cruel Summer - are again available for users to add to their videos, music belonging to Universal's other artists has still not been relisted."", 'That may be because unlike other artists, Swift owns the copyright to her music under the terms of a 2018 deal with Universal.', 'Some reports speculated Swift reached a separate deal with TikTok. ""', 'Swifties"" - Taylor Swift fans - took to the platform to share their delight at her music returning. ""', 'OMG this made my whole year,"" wrote verified user Jessica Golich, adding that users would ""have the whole new album to play with"".', 'Divendra Rai recorded a video lip syncing to Cruel Summer, captioned: ""Welcome back Taylor!!!""', 'In an open letter published on 30 January, Universal claimed that ""ultimately TikTok is trying to build a music-based business, without paying fair value for the music"".', 'Universal said it was also concerned about getting fair compensation for artists for AI-generated songs made to sound like the real thing, such as one made to sound like Drake and The Weeknd which went viral.', 'Swift announced her upcoming album while accepting her 13th Grammy award earlier this year.', 'The Tortured Poets Department, which will be released on 19 April, is her 11th album.', 'The BBC has contacted Universal and TikTok for comment.']",-0.0629507736126649,"Swifties"" - Taylor Swift fans - took to the platform to share their delight at her music returning. """,Many artists have complained about inadequate royalties from TikTok.,-0.5978696346282959,"OMG this made my whole year,"" wrote verified user Jessica Golich, adding that users would ""have the whole new album to play with"".",Many artists have complained about inadequate royalties from TikTok.,2024-04-12 -Sub-postmistress jailed while pregnant rejects ex-Post Office boss' apology,https://www.bbc.co.uk/news/business-68787990,2024-04-11T12:21:07.000Z,"A former sub-postmistress who was wrongly jailed while she was pregnant has rejected an apology by a former Post Office boss who congratulated the team behind her conviction. ""Brilliant news. Well done,"" wrote then managing director David Smith in an email to colleagues in 2010. Seema Misra was eight weeks pregnant with her second child when she was sentenced to 15 months in prison. Mr Smith apologised to Mrs Misra at the inquiry into the Post Office scandal. He said that in hindsight, his email following her conviction was ""poorly thought through"". But following Thursday's evidence, Mrs Misra told the BBC: ""How can I accept the apology? They need to apologise to my 10 year old, they took his mum away on his birthday. ""I was eight weeks pregnant - they need to apologise to my youngest son. It was terrible. I haven't accepted the apologies."" Mrs Misra was sent to Bronzefield prison on the day of her eldest son's 10th birthday after being wrongly convicted of stealing £70,000 from her Post Office branch in the village of West Byfleet in Surrey. She served four-and-a-half months and gave birth to her second son wearing an electronic tag. She told the BBC that she had seen Mr Smith's email before. ""Seeing it again makes me more and more angry,"" she added. Mrs Misra was one of more than 700 sub-postmasters and postmistresses prosecuted between 1999 and 2015 for theft and false accounting after a faulty computer system called Horizon made it look like money was missing from their branches. Some, like Mrs Misra, were convicted and sent to prison. Many others were left financially ruined and lost their jobs, businesses and homes. Some died while waiting for justice. Hundreds of people wrongly convicted are set to have their names cleared under new legislation expected to come into force in July, but when it comes to financial redress, just 37 people have received full and final compensation settlements to date. Mr Smith was managing director of the Post Office from April to October 2010. His brief stint in charge was prior to Paula Vennells - who was heavily depicted in the ITV drama which thrust the scandal back into the spotlight - taking up the role as chief executive from 2012 to 2019. In his witness statement to the public inquiry, Mr Smith said his email following Mrs Misra's conviction was ""intended to be a congratulatory"" to the legal team. ""Brilliant news. Well done. Please pass on my thanks to the team,"" said Mr Smith's 2010 email. Asked by Sam Stevens, counsel to the inquiry, on Thursday why Mrs Misra's conviction was ""brilliant news"", Mr Smith replied: ""I would just like to place on record an apology to Seema Misra and family because of the way this has been perceived and portrayed subsequently. ""Looking at it through their eyes rather than through mine you can see that it may have caused substantial upset and I really do apologise for that."" Mr Smith said his email to the legal team was ""thank you for all your hard work. It's terrific that you got the result you got and I'm really happy that we have progressed"". ""It's nothing more or less than that,"" he added, but admitted: ""In the benefit of hindsight and looking through the 2024 lens and not the 2010 lens, at best, from Seema's perspective, you can see this is really poorly thought through."" The former managing director said Mrs Misra's conviction, which has since been overturned, was seen as a ""test"" of the Horizon system, which the organisation believed was ""tamper proof"". Mr Smith denied having knowledge of a Horizon bug before the trial of the subpostmistress in 2010, and said he was ""shocked and frankly appalled"" at claims the Post Office knew of faults in the IT system while prosecuting Mrs Misra. Mr Smith also rejected claims that an investigation commissioned - known as the Ismay report - into the computer system's integrity was a cover up. The essence of the report, produced by Rod Ismay who worked in finance at the Post Office in 2010, was that there were no fundamental problems with Horizon. In May last year, Mr Ismay told the inquiry he agreed with the suggestion he was asked to ""present one side of the coin"", rather than carry out a full investigation. Mr Smith denied the report was intended as a ""counter-argument"" to allegations against Horizon, but accepted in his witness statement that in hindsight he should have commissioned a full, independent probe. ""At the time we were repeatedly given reassurance that the system was robust,"" said Mr Smith. Former Post Office chairman Sir Michael Hodgkinson also apologised to sub-postmasters on Thursday. Sir Michael, who was chairman from 2003 to 2007 admitted to the inquiry he ""didn't do anything"" to check if the business was prosecuting its own people properly. ",BBC,11/04/2024,"['A former sub-postmistress who was wrongly jailed while she was pregnant has rejected an apology by a former Post Office boss who congratulated the team behind her conviction. ""', 'Brilliant news.', 'Well done,"" wrote then managing director David Smith in an email to colleagues in 2010.', 'Seema Misra was eight weeks pregnant with her second child when she was sentenced to 15 months in prison.', 'Mr Smith apologised to Mrs Misra at the inquiry into the Post Office scandal.', 'He said that in hindsight, his email following her conviction was ""poorly thought through"".', 'But following Thursday\'s evidence, Mrs Misra told the BBC: ""How can I accept the apology?', 'They need to apologise to my 10 year old, they took his mum away on his birthday. ""', 'I was eight weeks pregnant - they need to apologise to my youngest son.', 'It was terrible.', 'I haven\'t accepted the apologies.""', ""Mrs Misra was sent to Bronzefield prison on the day of her eldest son's 10th birthday after being wrongly convicted of stealing £70,000 from her Post Office branch in the village of West Byfleet in Surrey."", 'She served four-and-a-half months and gave birth to her second son wearing an electronic tag.', 'She told the BBC that she had seen Mr Smith\'s email before. ""', 'Seeing it again makes me more and more angry,"" she added.', 'Mrs Misra was one of more than 700 sub-postmasters and postmistresses prosecuted between 1999 and 2015 for theft and false accounting after a faulty computer system called Horizon made it look like money was missing from their branches.', 'Some, like Mrs Misra, were convicted and sent to prison.', 'Many others were left financially ruined and lost their jobs, businesses and homes.', 'Some died while waiting for justice.', 'Hundreds of people wrongly convicted are set to have their names cleared under new legislation expected to come into force in July, but when it comes to financial redress, just 37 people have received full and final compensation settlements to date.', 'Mr Smith was managing director of the Post Office from April to October 2010.', 'His brief stint in charge was prior to Paula Vennells - who was heavily depicted in the ITV drama which thrust the scandal back into the spotlight - taking up the role as chief executive from 2012 to 2019.', 'In his witness statement to the public inquiry, Mr Smith said his email following Mrs Misra\'s conviction was ""intended to be a congratulatory"" to the legal team. ""', 'Brilliant news.', 'Well done.', 'Please pass on my thanks to the team,"" said Mr Smith\'s 2010 email.', 'Asked by Sam Stevens, counsel to the inquiry, on Thursday why Mrs Misra\'s conviction was ""brilliant news"", Mr Smith replied: ""I would just like to place on record an apology to Seema Misra and family because of the way this has been perceived and portrayed subsequently. ""', 'Looking at it through their eyes rather than through mine you can see that it may have caused substantial upset and I really do apologise for that.""', 'Mr Smith said his email to the legal team was ""thank you for all your hard work.', 'It\'s terrific that you got the result you got and I\'m really happy that we have progressed"". ""', 'It\'s nothing more or less than that,"" he added, but admitted: ""In the benefit of hindsight and looking through the 2024 lens and not the 2010 lens, at best, from Seema\'s perspective, you can see this is really poorly thought through.""', 'The former managing director said Mrs Misra\'s conviction, which has since been overturned, was seen as a ""test"" of the Horizon system, which the organisation believed was ""tamper proof"".', 'Mr Smith denied having knowledge of a Horizon bug before the trial of the subpostmistress in 2010, and said he was ""shocked and frankly appalled"" at claims the Post Office knew of faults in the IT system while prosecuting Mrs Misra.', ""Mr Smith also rejected claims that an investigation commissioned - known as the Ismay report - into the computer system's integrity was a cover up."", 'The essence of the report, produced by Rod Ismay who worked in finance at the Post Office in 2010, was that there were no fundamental problems with Horizon.', 'In May last year, Mr Ismay told the inquiry he agreed with the suggestion he was asked to ""present one side of the coin"", rather than carry out a full investigation.', 'Mr Smith denied the report was intended as a ""counter-argument"" to allegations against Horizon, but accepted in his witness statement that in hindsight he should have commissioned a full, independent probe. ""', 'At the time we were repeatedly given reassurance that the system was robust,"" said Mr Smith.', 'Former Post Office chairman Sir Michael Hodgkinson also apologised to sub-postmasters on Thursday.', 'Sir Michael, who was chairman from 2003 to 2007 admitted to the inquiry he ""didn\'t do anything"" to check if the business was prosecuting its own people properly.']",0.0172073041939295,"It's nothing more or less than that,"" he added, but admitted: ""In the benefit of hindsight and looking through the 2024 lens and not the 2010 lens, at best, from Seema's perspective, you can see this is really poorly thought through.""","Mr Smith denied having knowledge of a Horizon bug before the trial of the subpostmistress in 2010, and said he was ""shocked and frankly appalled"" at claims the Post Office knew of faults in the IT system while prosecuting Mrs Misra.",-0.4819047771967374,"It's terrific that you got the result you got and I'm really happy that we have progressed"". ""","He said that in hindsight, his email following her conviction was ""poorly thought through"".",2024-04-12 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-04-12 -Boom times for US green energy as federal cash flows in,https://www.bbc.co.uk/news/business-68667140,2024-04-08T23:03:36.000Z,"In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil. The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive. The second plant would add to its facility in Soperton, Georgia - the world's first commercial scale ethanol-to-SAF plant. ""We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place."" Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy. The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy. With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology. The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries. Consumers can also receive tax credits, for example for buying an EV or installing a heat pump. The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years). Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects. Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law. One company to benefit so far is EV battery recycling company Ascend Elements. It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""There is a clear sense that America has become more serious about transitioning to a cleaner economy."" While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments. According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits. The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long. But experts believe it is rising. Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data. Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023. The IRA has had two main positive effects thus far, says Mr Houser. It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries. It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser. But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA. On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections. Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within. The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties. Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm. The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL. For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this. It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet. Yet others argue the US can't afford not to take this path. And the point of the loans program is to take risks to help unlock new solutions that scale. ""It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm. More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more. Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""The US wasn't a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm. The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030. In the UK, chancellor Jeremy Hunt has made clear he isn't interested, nor can the UK afford to copy the IRA's approach in some ""distortive global subsidy race"" and will stick to other ways of helping. The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy. A global audience will be watching as the US's clean energy juggernaut unfolds. And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut. ",BBC,08/04/2024,"['In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil.', 'The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive.', 'The second plant would add to its facility in Soperton, Georgia - the world\'s first commercial scale ethanol-to-SAF plant. ""', 'We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""', 'Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.', 'The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy.', 'With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology.', 'The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries.', 'Consumers can also receive tax credits, for example for buying an EV or installing a heat pump.', 'The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years).', 'Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects.', 'Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.', 'One company to benefit so far is EV battery recycling company Ascend Elements.', 'It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[', 'The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""', 'There is a clear sense that America has become more serious about transitioning to a cleaner economy.""', 'While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider.', 'Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments.', 'According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits.', ""The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long."", 'But experts believe it is rising.', 'Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.', 'Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023.', 'The IRA has had two main positive effects thus far, says Mr Houser.', 'It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.', 'It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF.', 'While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser.', ""But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA."", ""On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections."", 'Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within.', 'The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.', 'Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""', 'A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm.', 'The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL.', ""For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this."", 'It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.', ""Yet others argue the US can't afford not to take this path."", 'And the point of the loans program is to take risks to help unlock new solutions that scale. ""', 'It would be failing if there weren\'t any so called \'failures\' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.', ""More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more."", 'Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""', 'The US wasn\'t a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm.', ""The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year."", ""It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030."", 'In the UK, chancellor Jeremy Hunt has made clear he isn\'t interested, nor can the UK afford to copy the IRA\'s approach in some ""distortive global subsidy race"" and will stick to other ways of helping.', 'The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy.', ""A global audience will be watching as the US's clean energy juggernaut unfolds."", ""And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.""]",0.3325934479260706,"And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.","It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.",0.3432436046146211,"Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.","But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA.",2024-04-12 -The iPhone suggests a Palestinian flag when some people type ‘Jerusalem.’ Apple is working on a fix,https://edition.cnn.com/2024/04/12/tech/apple-iphone-jerusalem-palestinian-flag/index.html," - Published - 2:27 PM EDT, Fri April 12, 2024 - ","Apple is working to a fix a bug in its latest iOS software that suggests the Palestinian flag emoji when some users search for the word “Jerusalem” in the emoji keyboard. - - The company told CNN it is aware of a bug within predictive emoji in the keyboard and is working on a fix that will be made available in the next iOS update. - - Apple’s latest software, iOS 17.4.1, was introduced on March 21, but the recent discovery of the bug upset some users on social media. In one post on X viewed more than 2.3 million times, an iPhone user questioned whether Apple was aware of the error – and whether it was intentional. Apple said the issue was a mistake and not coded into the keyboard intentionally. - - But the user, who said she was Jewish, provided a long list of other cities that don’t surface a flag when entered into the emoji search box. - - It’s possible Apple’s machine-learning technology determined the suggested emoji based on analyzing texts from millions of its users. Apple declined to elaborate on the cause. - - The company did not share when the next update would become available. - - The history of the region is complicated, and territorial claims in the ancient city are no less so. In 1967, Israel captured East Jerusalem along with other regions and later annexed that as part of Jerusalem to unify the city as its capital – although much of the international community recognizes East Jerusalem as Israel-occupied Palestinian territory. For its part, Israel considers Jerusalem as its undivided capital. In 2017, the US administration of President Donald Trump recognized Jerusalem as Israel’s capital, reversing decades of American foreign policy. - - So suggesting a Palestinian flag emoji for the search query “Jerusalem,” particularly when Israel is at war with Hamas, is adding to tensions amid a long-running dispute.",CNN,12/04/2024,"['Apple is working to a fix a bug in its latest iOS software that suggests the Palestinian flag emoji when some users search for the word “Jerusalem” in the emoji keyboard.', 'The company told CNN it is aware of a bug within predictive emoji in the keyboard and is working on a fix that will be made available in the next iOS update.', 'Apple’s latest software, iOS 17.4.1, was introduced on March 21, but the recent discovery of the bug upset some users on social media.', 'In one post on X viewed more than 2.3 million times, an iPhone user questioned whether Apple was aware of the error – and whether it was intentional.', 'Apple said the issue was a mistake and not coded into the keyboard intentionally.', 'But the user, who said she was Jewish, provided a long list of other cities that don’t surface a flag when entered into the emoji search box.', 'It’s possible Apple’s machine-learning technology determined the suggested emoji based on analyzing texts from millions of its users.', 'Apple declined to elaborate on the cause.', 'The company did not share when the next update would become available.', 'The history of the region is complicated,and territorial claims in the ancient city are no less so.', 'In 1967, Israel captured East Jerusalem along with other regions and later annexed thataspart of Jerusalem to unify the city as its capital – althoughmuch of the international communityrecognizesEast Jerusalem asIsrael-occupied Palestinian territory.', 'For its part, Israel considers Jerusalem as its undivided capital.', 'In 2017, the US administration of President Donald Trump recognized Jerusalem as Israel’s capital, reversing decades of American foreign policy.', 'So suggesting a Palestinian flag emoji for the search query “Jerusalem,” particularly when Israel is at war with Hamas, is adding to tensions amid a long-running dispute.']",-0.1696239295073959,It’s possible Apple’s machine-learning technology determined the suggested emoji based on analyzing texts from millions of its users.,"So suggesting a Palestinian flag emoji for the search query “Jerusalem,” particularly when Israel is at war with Hamas, is adding to tensions amid a long-running dispute.",-0.3114674538373947,"In 2017, the US administration of President Donald Trump recognized Jerusalem as Israel’s capital, reversing decades of American foreign policy.","So suggesting a Palestinian flag emoji for the search query “Jerusalem,” particularly when Israel is at war with Hamas, is adding to tensions amid a long-running dispute.",2024-04-12 -"Airbnb wants to help renters, and not just homeowners, share their space for cash",https://edition.cnn.com/2024/04/12/tech/airbnb-renters-homeowners/index.html," - Updated - 2:25 PM EDT, Fri April 12, 2024 - ","Airbnb wants more renters, and not just homeowners, to be able to become hosts on its short-term rental platform. - - The company on Friday announced that it is doubling down on efforts to work with state and local governments to advocate for short-term rental rules that don’t exclude renters from getting involved in the lucrative side-hustle of leveraging their space to earn extra money. - - But this move comes as some areas are pushing back on the company. New York City, for example, has argued that short-term rental platforms like Airbnb limit available housing supply, leading to overall higher rents, and that they can be disruptive to neighborhoods. Airbnb, meanwhile, argues its services can provide economic benefits to hosts and communities. - - Airbnb now says it wants to help renters, in addition to landlords, list their homes on the platform, a policy that has been restricted in many places for years. “A lot of the early laws that were made limited short-term rental to homeownership,” Theo Yedinsky, the vice president of public policy at Airbnb, told CNN. - - And this mission is baked into Airbnb’s roots, Yedinsky added, referring to how Airbnb was first created back in 2007 when two of its co-founders couldn’t afford to pay rent in San Francisco and took in some guests on air mattresses who were in town for a design conference. - - “That’s how they paid their rent in the early days,” he quipped of his now-CEO Brian Chesky and fellow Airbnb co-founder Joe Gebbia. - - Earlier this week, Airbnb scored a major victory on this front in Virginia when Gov. Glenn Youngkin signed a bill into law that requires all localities that issue short-term rental permits to property owners also issue these same permits to tenants who have permission from their property owner. The legislation was spearheaded by Del. Don Scott, Virginia’s first-ever Black speaker of the state’s House of Delegates. - - Airbnb’s new focus on helping renters host on the platform comes at a time when high mortgage rates and down payment costs are increasingly making homeownership feel out of reach for younger Americans and as inflation and cost-of-living expenses are weighing heavily on consumers. Moreover, the gap between Black and White homeownership is even worse now than it was a decade ago. - - Allowing renters to earn supplemental income on Airbnb provides “a chance for people in communities that have been disenfranchised or lower-income communities to really take advantage of what Airbnb does best,” Yedinsky said. - - These renters, however, will still have to get permission from their landlord to host on Airbnb (Airbnb has no involvement in individual lease agreements between property owners and tenants). And many major cities, including New York, are increasingly cracking down and heavily restricting the short-term rental market. - - Rahul Bhaskar, a tech consultant based in San Francisco, currently rents his two-bedroom apartment but got permission from his building management to host on Airbnb roughly three years ago when it became part of the Airbnb-friendly apartment program that is designed to help renters earn extra income. - - Bhaskar told CNN that he and his wife moved into their apartment when rent was lower due to the pandemic but said the rent has since creeped back up to pre-pandemic levels. - - “We were contemplating going back to the suburbs, or maybe a different neighborhood in the city,” Bhaskar said. But he said he and his wife decided to rent their home on Airbnb during their annual trips home to India and while they travel for work to help offset the rising costs. - - “It kind of works out well for us,” he told CNN. “And we were able to continue living in the same apartment.” - - Beyond the requirement for landlord permission, Yedinsky said, “I don’t think there’s anything different about renters listing their space on Airbnb versus homeowners listing their space on Airbnb.” - - “Obviously, we want everybody to be respectful,” he added. “We want hosts to be good hosts, we want guests to be good guests.”",CNN,12/04/2024,"['Airbnb wants more renters, and not just homeowners, to be able to become hosts on its short-term rental platform.', 'The company on Friday announced that it is doubling down on efforts to work with state and local governments to advocate for short-term rental rules that don’t exclude renters from getting involved in the lucrative side-hustle of leveraging their space to earn extra money.', 'But this move comes as some areas are pushing back on the company.', 'New York City, for example, has argued that short-term rental platforms like Airbnb limit available housing supply, leading to overall higher rents, and that they can be disruptive to neighborhoods.', 'Airbnb, meanwhile, argues its services can provide economic benefits to hosts and communities.', 'Airbnb now says it wants to help renters, in addition to landlords, list their homes on the platform, a policy that has been restricted in many places for years. “', 'A lot of the early laws that were madelimited short-term rental to homeownership,” Theo Yedinsky, the vice president of public policy at Airbnb, told CNN.', 'And this mission is baked into Airbnb’s roots, Yedinsky added, referring to how Airbnb was first created back in 2007 when two of its co-founders couldn’t afford to pay rent in San Francisco and took in some guests on air mattresses who were in town for a design conference.', '“That’s how they paid their rent in the early days,” he quipped of his now-CEO Brian Chesky and fellow Airbnb co-founder Joe Gebbia.', 'Earlier this week, Airbnb scored a major victory on this front in Virginia when Gov. Glenn Youngkin signed a bill into law that requires all localities that issue short-term rental permits to property owners also issue these same permits to tenants who have permission from their property owner.', 'The legislation was spearheaded by Del. Don Scott, Virginia’s first-ever Black speaker of the state’s House of Delegates.', 'Airbnb’s new focus on helping renters host on the platform comes at a time when high mortgage rates and down payment costs are increasingly making homeownership feel out of reach for younger Americans and as inflation and cost-of-living expenses are weighing heavily on consumers.', 'Moreover, the gap between Black and White homeownership is even worse now than it was a decade ago.', 'Allowing renters to earn supplemental income on Airbnb provides “a chance for people in communities that have been disenfranchised or lower-income communities to really take advantage of what Airbnb does best,” Yedinsky said.', 'These renters, however, will still have to get permission from their landlord to host on Airbnb (Airbnb has no involvement in individual lease agreements between property owners and tenants).', 'And many major cities, including New York, are increasingly cracking down and heavily restricting the short-term rental market.', 'Rahul Bhaskar, a tech consultant based in San Francisco, currently rents his two-bedroom apartment but got permission from his building management to host on Airbnb roughly three years ago when it became part of the Airbnb-friendly apartment program that is designed to help renters earn extra income.', 'Bhaskar told CNN that he and his wife moved into their apartment when rent was lower due to the pandemic but said the rent has since creeped back up to pre-pandemic levels.', '“We were contemplating going back to the suburbs, or maybe a different neighborhood in the city,” Bhaskar said.', 'But he said he and his wife decided to rent their home on Airbnb during their annual trips home to India and while they travel for work to help offset the rising costs.', '“It kind of works out well for us,” he told CNN. “', 'And we were able to continue living in the same apartment.”', 'Beyond the requirement for landlord permission, Yedinsky said, “I don’t think there’s anything different about renters listing their space on Airbnb versus homeowners listing their space on Airbnb.”', '“Obviously, we want everybody to be respectful,” he added. “', 'We want hosts to be good hosts, we want guests to be good guests.”']",0.1188793859617114,"Rahul Bhaskar, a tech consultant based in San Francisco, currently rents his two-bedroom apartment but got permission from his building management to host on Airbnb roughly three years ago when it became part of the Airbnb-friendly apartment program that is designed to help renters earn extra income.","Moreover, the gap between Black and White homeownership is even worse now than it was a decade ago.",0.0598889864408052,"Earlier this week, Airbnb scored a major victory on this front in Virginia when Gov. Glenn Youngkin signed a bill into law that requires all localities that issue short-term rental permits to property owners also issue these same permits to tenants who have permission from their property owner.",Airbnb’s new focus on helping renters host on the platform comes at a time when high mortgage rates and down payment costs are increasingly making homeownership feel out of reach for younger Americans and as inflation and cost-of-living expenses are weighing heavily on consumers.,2024-04-12 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-04-12 -GDP: Economy grew in February increasing hopes UK is out of recession,https://www.bbc.co.uk/news/business-68596871,2024-04-12T06:21:12.000Z,"The UK economy grew slightly in February increasing hopes it is on its way out of recession. The economy grew by 0.1%, official figures show, boosted by production and manufacturing in areas such as the car industry. The Office for National Statistics (ONS) said that construction was dampened by wet weather though. This is an early estimate, but signals how the UK, which entered recession at the end of 2023, is faring. Liz McKeown, director of economic statistics at the ONS, said that looking across the three months to February as a whole, the economy grew for the first time since last summer. Chancellor Jeremy Hunt suggested that the new figures were a ""welcome sign that the economy is turning a corner"". ""We can build on this progress if we stick to our plan,"" he added. Growing the economy was one of five key pledges that Prime Minister Rishi Sunak made last year as consumers and businesses were squeezed by higher prices and interest rates. Labour shadow chancellor Rachel Reeves, however, argued that ""Britain is worse off with low growth and high taxes"". She added: ""The Conservatives cannot fix the economy because they are the reason it is broken."" Most economists, politicians and businesses like to see gross domestic product (GDP) overall rising steadily because it usually means people are spending more, extra jobs are created, more tax is paid and workers get better pay rises. The official statistics body also revised its previous estimate for gross domestic product (GDP) in January from 0.2% growth up to 0.3%. In February, output from the UK's production industry led the economy's growth, rising by 1.1%, compared to a fall of 0.3% in January. The construction sector saw output fall by 1.9% though as persistent rain hampered building projects. The services sector, which includes things like hairdressing and hospitality, also grew a little with public transport and haulage having a strong month. Yael Selfin, chief economist at KPMG UK, said that February's overall figures offered a strong signal that the recession, which is defined as when an economy shrinks for two three-month periods in a row, may already be over. Growth is likely to have been boosted by cuts in National Insurance and slowing price rises, meaning that businesses and households will have more confidence in their finances and therefore spending. But she added that consumer spending is still fragile and business investment could be dented by uncertainty around a general election. Andrew Watson is chief financial officer at Goodfellow, a metal manufacturer based in Cambridge which supplies research and development around the world. He said last year the firm was hit by disruption from attacks on shipping vessels in the Red Sea and supply chains were tight after the pandemic, ""but overall we saw growth"". ""You've got this weird mix of the economy not doing so well in terms of GDP and yet we feel like we've got opportunities to grow - and we just have to push forward and access those opportunities,"" he said. He suggested that growth in the UK had been ""anaemic"" since covid, with more opportunities presenting themselves in the United States. Other countries' economies have also faced energy price shocks and supply chain delays in the wake of the pandemic driving up costs, as well as the potential knock-on effects from conflict overseas, but the UK has seen growth stagnating for some time. Dr Roger Barker, director of policy at the Institute of Directors, suggested that there were few signs of a ""strong"" economic reboundin the UK and that some parts of the services industry like hotels and hospitality were still struggling. Other economists pointed out the impact of previous interest rate rises by the Bank of England was still feeding through to the economy. Currently, experts are split on when the UK's central bank may start cutting interest rates over the summer, potentially providing some relief to mortgage-holders and borrowers. The Bank's Monetary Policy Committee takes into account a range of economic figures when making its decision on its base rate, although monthly figures such as February's can be quite volatile and are ""unlikely"" to do much change to its thinking, said Danni Hewson, head of financial analysis at AJ Bell. ",BBC,12/04/2024,"['The UK economy grew slightly in February increasing hopes it is on its way out of recession.', 'The economy grew by 0.1%, official figures show, boosted by production and manufacturing in areas such as the car industry.', 'The Office for National Statistics (ONS) said that construction was dampened by wet weather though.', 'This is an early estimate, but signals how the UK, which entered recession at the end of 2023, is faring.', 'Liz McKeown, director of economic statistics at the ONS, said that looking across the three months to February as a whole, the economy grew for the first time since last summer.', 'Chancellor Jeremy Hunt suggested that the new figures were a ""welcome sign that the economy is turning a corner"". ""', 'We can build on this progress if we stick to our plan,"" he added.', 'Growing the economy was one of five key pledges that Prime Minister Rishi Sunak made last year as consumers and businesses were squeezed by higher prices and interest rates.', 'Labour shadow chancellor Rachel Reeves, however, argued that ""Britain is worse off with low growth and high taxes"".', 'She added: ""The Conservatives cannot fix the economy because they are the reason it is broken.""', 'Most economists, politicians and businesses like to see gross domestic product (GDP) overall rising steadily because it usually means people are spending more, extra jobs are created, more tax is paid and workers get better pay rises.', 'The official statistics body also revised its previous estimate for gross domestic product (GDP) in January from 0.2% growth up to 0.3%.', ""In February, output from the UK's production industry led the economy's growth, rising by 1.1%, compared to a fall of 0.3% in January."", 'The construction sector saw output fall by 1.9% though as persistent rain hampered building projects.', 'The services sector, which includes things like hairdressing and hospitality, also grew a little with public transport and haulage having a strong month.', ""Yael Selfin, chief economist at KPMG UK, said that February's overall figures offered a strong signal that the recession, which is defined as when an economy shrinks for two three-month periods in a row, may already be over."", 'Growth is likely to have been boosted by cuts in National Insurance and slowing price rises, meaning that businesses and households will have more confidence in their finances and therefore spending.', 'But she added that consumer spending is still fragile and business investment could be dented by uncertainty around a general election.', 'Andrew Watson is chief financial officer at Goodfellow, a metal manufacturer based in Cambridge which supplies research and development around the world.', 'He said last year the firm was hit by disruption from attacks on shipping vessels in the Red Sea and supply chains were tight after the pandemic, ""but overall we saw growth"". ""', 'You\'ve got this weird mix of the economy not doing so well in terms of GDP and yet we feel like we\'ve got opportunities to grow - and we just have to push forward and access those opportunities,"" he said.', 'He suggested that growth in the UK had been ""anaemic"" since covid, with more opportunities presenting themselves in the United States.', ""Other countries' economies have also faced energy price shocks and supply chain delays in the wake of the pandemic driving up costs, as well as the potential knock-on effects from conflict overseas, but the UK has seen growth stagnating for some time."", 'Dr Roger Barker, director of policy at the Institute of Directors, suggested that there were few signs of a ""strong"" economic reboundin the UK and that some parts of the services industry like hotels and hospitality were still struggling.', 'Other economists pointed out the impact of previous interest rate rises by the Bank of England was still feeding through to the economy.', ""Currently, experts are split on when the UK's central bank may start cutting interest rates over the summer, potentially providing some relief to mortgage-holders and borrowers."", 'The Bank\'s Monetary Policy Committee takes into account a range of economic figures when making its decision on its base rate, although monthly figures such as February\'s can be quite volatile and are ""unlikely"" to do much change to its thinking, said Danni Hewson, head of financial analysis at AJ Bell.']",0.2075141972210747,"He suggested that growth in the UK had been ""anaemic"" since covid, with more opportunities presenting themselves in the United States.","Labour shadow chancellor Rachel Reeves, however, argued that ""Britain is worse off with low growth and high taxes"".",0.445449715310877,"Growth is likely to have been boosted by cuts in National Insurance and slowing price rises, meaning that businesses and households will have more confidence in their finances and therefore spending.",But she added that consumer spending is still fragile and business investment could be dented by uncertainty around a general election.,2024-04-12 -US to end 'gun show loophole' that allows sales without background checks,https://www.bbc.co.uk/news/world-us-canada-68791474,2024-04-11T15:29:08.000Z,"The White House is to close a loophole that allows thousands of firearms to be sold at gun shows and on the internet without federal background checks. It will classify around 23,000 vendors as licensed firearms dealers, making their gun sales subject to the checks. Attorney General Merrick Garland said: ""If you sell guns predominantly to earn a profit, you must be licensed."" The Biden administration said it expected a court challenge by pro-gun groups, but was confident it would win. ""All of the major actions that the president has taken to reduce gun violence have been challenged,"" an administration official said. ""And in court after court, the actions are frequently being upheld. We have confidence that this is legal."" The National Rifle Association (NRA) said it was preparing to fight the new regulations, and Republican senators have also objected. Nevertheless, Mr Garland said that the regulation was a ""historic step"" that would ""save lives"". He pointed to federal data showing that illegal or black-market firearms were increasingly being found at shooting scenes. Vice-President Kamala Harris, who leads the Office on Gun Violence Prevention, said unlicensed gun dealers had ""gotten away"" with unverified sales for far too long. In a video on Thursday, President Joe Biden called on Congress to ""finish the job and pass universal background check legislation now"". The closure of the ""gun show loophole"" will go into effect 30 days after it is published in the federal registry this week. The White House has cited the Bipartisan Safer Communities Act of 2022, which solidified who and what is considered a firearm dealer, to expand the background check requirements. The law was passed with support from Republicans and Democrats after two high-profile mass shootings in May 2022 - an attack on a supermarket in Buffalo, New York, and a school shooting in Uvalde, Texas. However, a spokesman for John Cornyn, a prominent Republican senator who worked on the Bipartisan Safe Communities Act, called the move ""unconstitutional"" . Joined by Senator Thom Tillis, a fellow Republican who helped negotiate the bill's passage, Mr Cornyn plans to introduce a joint resolution of disapproval under the Congressional Review Act. The pair claim the new regulation attempts to ""rewrite the law"" and will ""go against congressional intent"", according to a copy of their proposed resolution, which was reviewed by the BBC's US partner, CBS News. Randy Kozuch, the executive director of the NRA's legal branch, said the move was an ""attack on law-abiding gun owners"" and that he was ""working to use all means available to stop this unlawful rule"". Around 80,000 licensed firearms dealers in the US who are already required to conduct background checks. There were more than 40,000 gun-related deaths in the United States last year, according to the Gun Violence Archive. ",BBC,11/04/2024,"['The White House is to close a loophole that allows thousands of firearms to be sold at gun shows and on the internet without federal background checks.', 'It will classify around 23,000 vendors as licensed firearms dealers, making their gun sales subject to the checks.', 'Attorney General Merrick Garland said: ""If you sell guns predominantly to earn a profit, you must be licensed.""', 'The Biden administration said it expected a court challenge by pro-gun groups, but was confident it would win. ""', 'All of the major actions that the president has taken to reduce gun violence have been challenged,"" an administration official said. ""', 'And in court after court, the actions are frequently being upheld.', 'We have confidence that this is legal.""', 'The National Rifle Association (NRA) said it was preparing to fight the new regulations, and Republican senators have also objected.', 'Nevertheless, Mr Garland said that the regulation was a ""historic step"" that would ""save lives"".', 'He pointed to federal data showing that illegal or black-market firearms were increasingly being found at shooting scenes.', 'Vice-President Kamala Harris, who leads the Office on Gun Violence Prevention, said unlicensed gun dealers had ""gotten away"" with unverified sales for far too long.', 'In a video on Thursday, President Joe Biden called on Congress to ""finish the job and pass universal background check legislation now"".', 'The closure of the ""gun show loophole"" will go into effect 30 days after it is published in the federal registry this week.', 'The White House has cited the Bipartisan Safer Communities Act of 2022, which solidified who and what is considered a firearm dealer, to expand the background check requirements.', 'The law was passed with support from Republicans and Democrats after two high-profile mass shootings in May 2022 - an attack on a supermarket in Buffalo, New York, and a school shooting in Uvalde, Texas.', 'However, a spokesman for John Cornyn, a prominent Republican senator who worked on the Bipartisan Safe Communities Act, called the move ""unconstitutional"" .', ""Joined by Senator Thom Tillis, a fellow Republican who helped negotiate the bill's passage, Mr Cornyn plans to introduce a joint resolution of disapproval under the Congressional Review Act."", 'The pair claim the new regulation attempts to ""rewrite the law"" and will ""go against congressional intent"", according to a copy of their proposed resolution, which was reviewed by the BBC\'s US partner, CBS News.', 'Randy Kozuch, the executive director of the NRA\'s legal branch, said the move was an ""attack on law-abiding gun owners"" and that he was ""working to use all means available to stop this unlawful rule"".', 'Around 80,000 licensed firearms dealers in the US who are already required to conduct background checks.', 'There were more than 40,000 gun-related deaths in the United States last year, according to the Gun Violence Archive.']",-0.0718921328882985,"The Biden administration said it expected a court challenge by pro-gun groups, but was confident it would win. ""","Vice-President Kamala Harris, who leads the Office on Gun Violence Prevention, said unlicensed gun dealers had ""gotten away"" with unverified sales for far too long.",0.2051212276731218,"Nevertheless, Mr Garland said that the regulation was a ""historic step"" that would ""save lives"".","Vice-President Kamala Harris, who leads the Office on Gun Violence Prevention, said unlicensed gun dealers had ""gotten away"" with unverified sales for far too long.",2024-04-12 -Fake UK stamps blamed on Chinese-made counterfeits,https://www.bbc.co.uk/news/business-68786782,2024-04-11T07:44:15.000Z,"Fake stamps circulating in the UK are originating from China, a senior MP has told the BBC. Reports suggest a rise in complaints that stamps bought from legitimate stores are being deemed counterfeit. Anyone who receives a letter with a fake stamp is charged £5 by Royal Mail. Conservative MP Iain Duncan Smith told BBC Breakfast: ""China is behind it."" A Royal Mail spokesman said: ""We are working hard to remove counterfeit stamps from circulation."" Consumers are being warned to look out for strange perforations around the edge of a stamp, a shine to the surface or the colour looking off. An investigation by the Daily Telegraph found that four Chinese companies had offered to print up to one million counterfeit stamps a week, with each stamp being sold for as little as 4p each before being sent to the UK. The fakes have been found for sale on various websites, the paper said, and they were also bought by small retailers who did not realise they were counterfeit. Alan Mendoza, from think tank the Henry Jackson Society, told BBC Breakfast: ""We don't know the extent on whether the Chinese government are involved - but what we do know is that Chinese firms are involved."" Business Minister Kevin Hollinrake said: ""It is key to prevent counterfeit stamps entering our supply chain in the UK. ""The Royal Mail must do everything possible to prevent counterfeits entering our circulation and must establish where they are coming from and how they are entering our marketplace."" Christine told the BBC's Watchdog that she had bought eight stamps from the Post Office based inside her local convenience store ""I sent one to my son, and he sent me a message later in the month saying thank you, but unfortunately there was a £5 demand on the envelope,"" she said. Another card sent to a friend's granddaughter also led to a £5 fee. ""Because it was two of them that made me quite indignant,"" Christine said. However, the chance of getting a counterfeit stamp is low, Royal Mail's director of external affairs and policy, David Gold, told Watchdog. ""People should understand that the overwhelming majority of stamps on sale are legitimate,"" he said. ""The number of [counterfeit] stamps that we are spotting account for less than 0.1% of the total stamps going through the network."" Barcoded stamps were introduced in 2022 to cut down on the sale of fakes and Mr Gold said this had reduced the number of counterfeits by 90%. However, he admitted that even he struggled to spot a fake. ""The reality is counterfeiters now are so good at what they do that even I... can't tell the difference just by looking at them."" A Royal Mail spokesman said: ""We regularly monitor online marketplaces to detect suspicious activity, such as sales of heavily discounted stamps and work closely with retailers and law enforcement agencies to identify those who produce counterfeit stamps."" Royal Mail suggests several ways to reduce the chances of ending up with fake stamps: Have you come across fake stamps? You can get in touch by emailing haveyoursay@bbc.co.uk. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission. ",BBC,11/04/2024,"['Fake stamps circulating in the UK are originating from China, a senior MP has told the BBC.', 'Reports suggest a rise in complaints that stamps bought from legitimate stores are being deemed counterfeit.', 'Anyone who receives a letter with a fake stamp is charged £5 by Royal Mail.', 'Conservative MP Iain Duncan Smith told BBC Breakfast: ""China is behind it.""', 'A Royal Mail spokesman said: ""We are working hard to remove counterfeit stamps from circulation.""', 'Consumers are being warned to look out for strange perforations around the edge of a stamp, a shine to the surface or the colour looking off.', 'An investigation by the Daily Telegraph found that four Chinese companies had offered to print up to one million counterfeit stamps a week, with each stamp being sold for as little as 4p each before being sent to the UK.', 'The fakes have been found for sale on various websites, the paper said, and they were also bought by small retailers who did not realise they were counterfeit.', 'Alan Mendoza, from think tank the Henry Jackson Society, told BBC Breakfast: ""We don\'t know the extent on whether the Chinese government are involved - but what we do know is that Chinese firms are involved.""', 'Business Minister Kevin Hollinrake said: ""It is key to prevent counterfeit stamps entering our supply chain in the UK. ""', 'The Royal Mail must do everything possible to prevent counterfeits entering our circulation and must establish where they are coming from and how they are entering our marketplace.""', 'Christine told the BBC\'s Watchdog that she had bought eight stamps from the Post Office based inside her local convenience store ""I sent one to my son, and he sent me a message later in the month saying thank you, but unfortunately there was a £5 demand on the envelope,"" she said.', 'Another card sent to a friend\'s granddaughter also led to a £5 fee. ""', 'Because it was two of them that made me quite indignant,"" Christine said.', 'However, the chance of getting a counterfeit stamp is low, Royal Mail\'s director of external affairs and policy, David Gold, told Watchdog. ""', 'People should understand that the overwhelming majority of stamps on sale are legitimate,"" he said. ""', 'The number of [counterfeit] stamps that we are spotting account for less than 0.1% of the total stamps going through the network.""', 'Barcoded stamps were introduced in 2022 to cut down on the sale of fakes and Mr Gold said this had reduced the number of counterfeits by 90%.', 'However, he admitted that even he struggled to spot a fake. ""', 'The reality is counterfeiters now are so good at what they do that even I... can\'t tell the difference just by looking at them.""', 'A Royal Mail spokesman said: ""We regularly monitor online marketplaces to detect suspicious activity, such as sales of heavily discounted stamps and work closely with retailers and law enforcement agencies to identify those who produce counterfeit stamps.""', 'Royal Mail suggests several ways to reduce the chances of ending up with fake stamps: Have you come across fake stamps?', 'You can get in touch by emailing haveyoursay@bbc.co.uk.', 'Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk."", 'Please include your name, age and location with any submission.']",-0.1448140040798448,"Another card sent to a friend's granddaughter also led to a £5 fee. """,Royal Mail suggests several ways to reduce the chances of ending up with fake stamps: Have you come across fake stamps?,0.0424301773309707,Barcoded stamps were introduced in 2022 to cut down on the sale of fakes and Mr Gold said this had reduced the number of counterfeits by 90%.,"However, the chance of getting a counterfeit stamp is low, Royal Mail's director of external affairs and policy, David Gold, told Watchdog. """,2024-04-12 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-04-12 -Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards," - Updated - 12:10 PM EST, Wed January 10, 2024 - ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees. - - When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings. - - If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel. - - You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards. - - Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back. - - Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories. - - As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything — 1% when you buy, 1% when you pay. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards. - - Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees. - - By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption. - - Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary. - - Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. - - If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points. - - Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible. - - It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year. - - Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option. - - Here’s a look at your Citi ThankYou travel redemption options and how they work. - - Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts, international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal. - - Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points. - - If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate. - - By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. - - Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines. - - Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: - - Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option. - - Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option. - - Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best. - - For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points: - - Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points. - - Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value. - - Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece. - - Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio. - - Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available. - - Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. - - Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything —1% when you buy, 1% when you pay.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points: Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.4187524857201869,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.",0.8707016060749689,"As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.",That’s significantly less than the value you’ll get from transfer partner redemptions.,2024-04-12 -Bilt’s March Rent Day promotion: Vote for your favorite benefit with the Bilt Bracket,https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion," - Updated - 10:57 AM EST, Mon February 26, 2024 - ","The relatively new Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception. With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years. - - And in addition to their strong program, Bilt Rewards — the loyalty program behind the Bilt Mastercard — also offers some favorable promotions throughout the year, with the most popular known as Rent Day. - - With Bilt’s Rent Day promotion — which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month. Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to. - - Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one. Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick. - - A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit. Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round. The last standing offer will then be the Rent Day benefit on March 1. - - And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case). - - Let’s take a closer look at how this bracket will work and the Rent Day offer options. - - For four days straight — between Feb. 26 and Feb. 29 — Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com. There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket. - - The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1. - - However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer, giving select members two bonus opportunities on Rent Day. - - With 16 different offers, some are significantly better than others. Although, the best offer for you might truly depend on how you engage in the Bilt program. Check the Bilt app or website to see the full list of promotions you can vote on. - - For me, the offers that allow me to earn bonus points on specific purchases — such as bonus points at Bilt Dining restaurants — will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example. - - Voting is incredible quick and can easily be completed alongside your morning coffee. Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far. - - On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games. Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix. - - You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority. This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. - - Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent). - - So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar. But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits). - - Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions. Let’s see which bonus offer wins this month. - - Learn more and apply now for the Bilt Mastercard. - - Find out which cards CNN Underscored Money chose as the best credit cards currently available.",CNN,26/02/2024,"['The relatively new Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception.', 'With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month.', 'Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.', 'Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one.', 'Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.', 'A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit.', 'Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round.', 'The last standing offer will then be the Rent Day benefit on March 1.', 'And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).', 'Let’s take a closer look at how this bracket will work and the Rent Day offer options.', 'For four days straight —between Feb. 26 and Feb. 29 —Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com.', 'There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.', 'The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.', 'However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer,giving select members two bonus opportunities on Rent Day.', 'With 16 different offers, some are significantly better than others.', 'Although, the best offer for you might truly depend on how you engage in the Bilt program.', 'Check the Bilt app or website to see the full list of promotions you can vote on.', 'For me, the offers that allow me to earn bonus points on specific purchases —such as bonus points at Bilt Dining restaurants —will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.', 'Voting is incredible quick and can easily be completed alongside your morning coffee.', 'Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.', 'On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games.', 'Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.', 'You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority.', 'This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).', 'Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions.', 'Let’s see which bonus offer wins this month.', 'Learn more and apply now for the Bilt Mastercard.', 'Find out which cards CNN Underscored Money chose as the best credit cardscurrently available.']",0.5132379666371525,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,0.9566517621278764,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,2024-04-12 -"Roku says 576,000 accounts breached in cyberattack",https://edition.cnn.com/2024/04/12/business/roku-security-breach-user-accounts/index.html," - Updated - 2:15 PM EDT, Fri April 12, 2024 - ","About 576,000 Roku accounts were compromised in a cyberattack, the company said on Friday, the second security breach for the streaming service this year. - - Hackers gained access to user accounts through stolen login credentials, Roku said in a blog post. The security breach was discovered while Roku monitored account activity after a cyberattack affected 15,000 accounts earlier this year. - - In each instance, fraudsters used a cyberattack method known as credential stuffing: Hackers try login and password information leaked in one data breach on a variety of users’ accounts, exploiting people who use the same credentials across different accounts. (Experts recommend people use different passwords for each of their online accounts.) - - Credentials used to access Roku accounts were likely from a data breach on a different site, the company said in a statement. - - “There is no indication that Roku was the source of the account credentials used in these attacks or that Roku’s systems were compromised in either incident,” the company said. - - In fewer than 400 cases, hackers used Roku accounts to make purchases on streaming services and Roku products but did not gain access to sensitive financial information. Roku is reversing charges and refunding all affected accounts, the company said in a statement. - - “These malicious actors were not able to access sensitive user information or full credit card information,” the company said. - - User passwords have been automatically reset, and users affected by the security breach will be contacted by Roku, the company said in a statement. - - Roku, a streaming giant, hosts more than 80 million users. The company announced it is implementing two-factor authentication across all Roku accounts. The two-step security confirmation prompts users on a second device whenever there’s an attempted log in. - - “We sincerely regret that these incidents occurred and any disruption they may have caused. Your account security is a top priority, and we are committed to protecting your Roku account,” the company said in a statement. - - The company’s stock is down nearly 3% since the security breach was announced. - - Users looking to protect their online accounts should create unique passwords that comprise a mix of letters, symbols and numbers at least eight characters long. - - Be aware of internet scams, phishing emails and suspicious requests for login or financial information. - - Roku users should contact customer support when in doubt and periodically log in to accounts to review purchases and subscriptions, the company said in a statement.",CNN,12/04/2024,"['About 576,000 Roku accounts were compromised in a cyberattack, the company said on Friday, the second security breach for the streaming service this year.', 'Hackers gained access to user accounts through stolen login credentials, Roku said in a blog post.', 'The security breach was discovered while Roku monitored account activity after a cyberattack affected 15,000 accounts earlier this year.', 'In each instance, fraudsters used a cyberattack method known as credential stuffing: Hackers try login and password information leaked in one data breach on a variety of users’ accounts, exploiting people who use the same credentials across different accounts. (', 'Experts recommend people use different passwords for each of their online accounts.)', 'Credentials used to access Roku accounts were likely from a data breach on a different site, the company said in a statement.', '“There is no indication that Roku was the source of the account credentials used in these attacks or that Roku’s systems were compromised in either incident,” the company said.', 'In fewer than 400 cases, hackers used Roku accounts to make purchases on streaming services and Roku productsbut did not gain access to sensitive financial information.', 'Roku is reversing charges and refunding all affected accounts, the company said in a statement.', '“These malicious actors were not able to access sensitive user information or full credit card information,” the company said.', 'User passwords have been automatically reset, and users affected by the security breach will be contacted by Roku, the company said in a statement.', 'Roku, a streaming giant, hosts more than 80 million users.', 'The company announced it is implementing two-factor authentication across all Roku accounts.', 'The two-step security confirmation prompts users on a second device whenever there’s an attempted log in.', '“We sincerely regret that these incidents occurred and any disruption they may have caused.', 'Your account security is a top priority, and we are committed to protecting your Roku account,” the company said in a statement.', 'The company’s stock is down nearly 3% since the security breach was announced.', 'Users looking to protect their online accounts should create unique passwords that comprise a mix of letters, symbols and numbers at least eight characters long.', 'Be aware of internet scams, phishing emails and suspicious requests for login or financial information.', 'Roku users should contact customer support when in doubt and periodically log in to accounts to review purchases and subscriptions, the company said in a statement.']",-0.0009388982447952,"Your account security is a top priority, and we are committed to protecting your Roku account,” the company said in a statement.","In each instance, fraudsters used a cyberattack method known as credential stuffing: Hackers try login and password information leaked in one data breach on a variety of users’ accounts, exploiting people who use the same credentials across different accounts. (",-0.965225338935852,,The company’s stock is down nearly 3% since the security breach was announced.,2024-04-12 -India's army of gold refiners face new competition,https://www.bbc.co.uk/news/business-68596195,2024-03-28T23:19:19.000Z,"Refining gold has a long history in the family of Satish Pratap Salunke. Following in the footsteps of his father and grandfather, he and his business collect scrap gold from jewellers, melt it down and sell it back to the jewellers in the form of gold bars. He has two refineries, one in Kochi in the southern state of Kerala and the other in Tiruchirappalli in Tamil Nadu. Relatives have refineries elsewhere in the south of India. ""Every day my refiners on an average melt two to three kilograms of gold,"" he says. Almost every town in India will have at least one small refinery similar to those run by Mr Salunke. It is known as the ""unorganised"" refining sector, which distinguishes it from big refiners who make gold bars and coins from imported, unrefined gold. It is estimated that, in total, Indian households hold a massive 25,000 tonnes of gold, and some of that is always available for sale, particularly when the price of gold is high or the economy is bad and people want to raise some cash. Jewellers may process returned gold themselves but will often use small refiners who will make the gold back into bars. Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. ""Most jewellers prefer buying gold from us, as we are based in every city with small units. A jeweller can take back his refined gold in a few hours, not like big refiners who will take days to refine the recycled gold."" According to the World Gold Council, of the 900 tonnes of gold refined in India in 2023, 117 came from recycled sources. But that recycling market is being eyed up by India's big industrial gold refiners. They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré. Between 2013 and 2021, India's large-scale refiners increased their capacity from 300 to 1,800 tonnes of gold a year. But it is difficult for them to import enough unrefined gold to keep their refineries running. In fact, less than 50% of their refining capacity is used, according to Harshad Ajmera, secretary of the Association of Gold Refiners and Mints. So big refiners have been opening scrap collection centres in big cities, hoping to scoop up unwanted gold and turn it into high-quality bars. ""At present most of the recycling of gold is done by the unorganised sector [small refiners] - that has to change,"" says Mr Ajmera. More technology of business He wants India to become a global hub for gold refining, which would mean importing more unrefined gold and for the big firms to take over more of the gold recycling. ""Switzerland is the world's largest gold refining centre and transit hub. We want India also to be in the same position,"" says Mr Ajmera. CGR Metalloys is one of India's leading gold refiners, refining about 150 tonnes of gold a year. Like the other big players, it has the latest equipment for gold smelting and refining, which it says is better for the environment and can guarantee the purity of its gold to extremely high levels. ""The refined bullion is analysed to the highest levels of accuracy, on various methods of gold assaying,"" says James Jose, managing director at CGR. It has opened three gold recycling centres in the state of Kerala. ""Indian refineries have a huge capacity... we have huge overheads. So setting up collection centres will increase the flow of scrap gold. This will help increase my output by 30% to 40%,"" says Mr Jose. In recent years, the government has become more involved in the refining industry. In 2020 the Bureau of Indian Standards (BIS) introduced a range of standards for gold bars including purity, weight, markings and dimensions. BIS-approved refiners can sell their bars to the commodity markets. ""The industry is gradually shifting towards greater organisation and efficiency, led by established refineries licensed by the Bureau of Indian Standards, which is setting trusted benchmarks for refined gold products, which will make India a global hub,"" says Somasundaram PR, the chief executive of the World Gold Council India. Some figures suggest that smaller refiners are losing ground. According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%. The moves made by big recycling firms do not concern Mr Salunke much - he says he knows his customers. ""Local jewellers are not willing to pay a recycling cost which is too much beyond what we charge,"" he says. And, like other smaller refiners, Mr Salunke has also been investing in modern refining technology. ""The gold recycled by us is as pure as gold recycled by an organised refinery,"" says Mr Salunke. ""Now we have a testing facility to check the purity, so it would be wrong to say we cannot refine gold into its purest form."" ",BBC,28/03/2024,"['Refining gold has a long history in the family of Satish Pratap Salunke.', 'Following in the footsteps of his father and grandfather, he and his business collect scrap gold from jewellers, melt it down and sell it back to the jewellers in the form of gold bars.', 'He has two refineries, one in Kochi in the southern state of Kerala and the other in Tiruchirappalli in Tamil Nadu.', 'Relatives have refineries elsewhere in the south of India. ""', 'Every day my refiners on an average melt two to three kilograms of gold,"" he says.', 'Almost every town in India will have at least one small refinery similar to those run by Mr Salunke.', 'It is known as the ""unorganised"" refining sector, which distinguishes it from big refiners who make gold bars and coins from imported, unrefined gold.', 'It is estimated that, in total, Indian households hold a massive 25,000 tonnes of gold, and some of that is always available for sale, particularly when the price of gold is high or the economy is bad and people want to raise some cash.', 'Jewellers may process returned gold themselves but will often use small refiners who will make the gold back into bars.', 'Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. ""', 'Most jewellers prefer buying gold from us, as we are based in every city with small units.', 'A jeweller can take back his refined gold in a few hours, not like big refiners who will take days to refine the recycled gold.""', 'According to the World Gold Council, of the 900 tonnes of gold refined in India in 2023, 117 came from recycled sources.', ""But that recycling market is being eyed up by India's big industrial gold refiners."", 'They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré.', ""Between 2013 and 2021, India's large-scale refiners increased their capacity from 300 to 1,800 tonnes of gold a year."", 'But it is difficult for them to import enough unrefined gold to keep their refineries running.', 'In fact, less than 50% of their refining capacity is used, according to Harshad Ajmera, secretary of the Association of Gold Refiners and Mints.', 'So big refiners have been opening scrap collection centres in big cities, hoping to scoop up unwanted gold and turn it into high-quality bars. ""', 'At present most of the recycling of gold is done by the unorganised sector [small refiners] - that has to change,"" says Mr Ajmera.', 'More technology of business He wants India to become a global hub for gold refining, which would mean importing more unrefined gold and for the big firms to take over more of the gold recycling. ""', ""Switzerland is the world's largest gold refining centre and transit hub."", 'We want India also to be in the same position,"" says Mr Ajmera.', ""CGR Metalloys is one of India's leading gold refiners, refining about 150 tonnes of gold a year."", 'Like the other big players, it has the latest equipment for gold smelting and refining, which it says is better for the environment and can guarantee the purity of its gold to extremely high levels. ""', 'The refined bullion is analysed to the highest levels of accuracy, on various methods of gold assaying,"" says James Jose, managing director at CGR.', 'It has opened three gold recycling centres in the state of Kerala. ""', 'Indian refineries have a huge capacity... we have huge overheads.', 'So setting up collection centres will increase the flow of scrap gold.', 'This will help increase my output by 30% to 40%,"" says Mr Jose.', 'In recent years, the government has become more involved in the refining industry.', 'In 2020 the Bureau of Indian Standards (BIS) introduced a range of standards for gold bars including purity, weight, markings and dimensions.', 'BIS-approved refiners can sell their bars to the commodity markets. ""', 'The industry is gradually shifting towards greater organisation and efficiency, led by established refineries licensed by the Bureau of Indian Standards, which is setting trusted benchmarks for refined gold products, which will make India a global hub,"" says Somasundaram PR, the chief executive of the World Gold Council India.', 'Some figures suggest that smaller refiners are losing ground.', 'According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%.', 'The moves made by big recycling firms do not concern Mr Salunke much - he says he knows his customers. ""', 'Local jewellers are not willing to pay a recycling cost which is too much beyond what we charge,"" he says.', 'And, like other smaller refiners, Mr Salunke has also been investing in modern refining technology. ""', 'The gold recycled by us is as pure as gold recycled by an organised refinery,"" says Mr Salunke. ""', 'Now we have a testing facility to check the purity, so it would be wrong to say we cannot refine gold into its purest form.""']",0.0819156075923504,"Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. """,But it is difficult for them to import enough unrefined gold to keep their refineries running.,0.5371810131602817,"They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré.","According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%.",2024-04-12 -Can’t pay or file your taxes by April 15? Here’s what happens if you miss Monday’s deadline,https://edition.cnn.com/2024/04/12/success/tax-filing-late-past-deadline-pay/index.html," - Published - 6:30 AM EDT, Fri April 12, 2024 - ","If you haven’t filed your 2023 tax return with the IRS yet and you still owe income tax for last year, the good news is you still have time to rectify those situations before you’re penalized for failing to do so. - - Most filers have until 11:59 pm Monday, April 15. Some, however, get an extra day or two if they live in Maine, Massachusetts or Washington, DC, due to observed holidays. - - And others who live or work in federally declared disaster areas will have even more time both to file and pay thanks to IRS-granted extensions. The IRS has also given an extension to individuals and businesses affected by the October 7 terrorist attacks in Israel. - - But if you are not in any of those situations, and you can’t file a full return by Monday, at the very least submit Form 4868 to get an automatic six-month extension to file. - - Keep in mind that this is only an extension to file your return and avoid a failure-to-file penalty. It is not an extension to pay whatever outstanding balance you owe. That amount is still due on April 15. - - So, if you expect you still owe money, in addition to filing for an extension, send in a payment to the IRS by Monday that best approximates what you think is the amount due. - - To get a reasonable estimate, look at your return from the prior year and figure out what, if anything, changed for you in 2023, said Tom O’Saben, director of tax content at the National Association of Tax Professionals. Think in terms of your sources of income (wages, dividends, interest, capital gains, rental income, taxable withdrawals from retirement accounts, etc.). Also consider any big life changes you’ve experienced like having a child or getting married or divorced, which may have tax implications for you. - - But if all that is too complicated for you at the moment, O’Saben recommends at least doing a quick calculation to get a ballpark estimate of whether you owe more than what you’ve already paid the IRS for last year: “Multiply your [2023] income by 20% and make sure that you have already paid [that much],” he said. If you haven’t, then send in a payment making up the difference by Monday. - - For some people making less than $200,000, the 20% calculation may overestimate your tax liability but that will protect you from getting hit with penalties, he said. If your household income is more than $200,000, however, it may underestimate what you owe and you’d be better off using 30% in your calculations. - - Failing to file on time when you still owe taxes will subject you to a failure-to-file penalty, which is based on how late your return is and the amount of your unpaid tax. Specifically, it will be 5% of your unpaid taxes for each month — or part of a month — that your return is late. The IRS notes, however, this penalty will not exceed 25% of your unpaid taxes. - - If you don’t pay what you owe by your tax-filing deadline you will also be hit with a failure-to-pay penalty. That amounts to 0.5% of your outstanding balance every month or part of a month it goes unpaid. It, too, will not exceed 25% of the total. - - If both a failure-to-file and a failure-to-pay penalty apply in the same month, you won’t be charged more than a total of 5% (4.5% for failure to file and 0.5% for failure to pay), according to the IRS. - - Keep in mind, too, your outstanding balance will be subject to interest. - - That is why even if you can’t afford to pay what you owe in full by Monday, at least send in a partial payment to reduce the amount of penalties and interest that will accrue. - - And read up on the different ways you can work out a repayment plan with the IRS, which may further limit your penalties and interest. If you owe a lot, it may be worth getting advice from an enrolled agent, certified public accountant or tax attorney who can represent you before the IRS to make sure you are choosing the best plan for your circumstances. - - Special note for gig workers, freelancers and sole proprietors: Even if you file on time and pay all that you owe by April 15, you may be subject to an underpayment penalty if you either neglected to pay your estimated taxes quarterly throughout the year, or paid less than you owed in any given quarter. - - If you’re a late filer who is owed a refund, in reality, you won’t be hit with a failure-to-file penalty if you miss your deadline. - - “The fact of the matter is that these penalties only apply in circumstances where the taxpayer owes taxes, and they are not paid by the due date. If a taxpayer is due a refund, the April 15 date, in a practical sense, means nothing. The taxpayer can file their return for up to three years after the original due date and the IRS will not only issue their refund but will pay the taxpayer interest on the refund,” O’Saben said. - - But do file within that time frame, he cautioned. “If you go beyond the three-year limit after the original due date, even if you are due a refund, you will no longer be entitled to it.”",CNN,12/04/2024,"['If you haven’t filed your 2023 tax return with the IRS yet and you still owe income tax for last year, the good news is you still have time to rectify those situations before you’re penalized for failing to do so.', 'Most filers have until 11:59 pm Monday, April 15.', 'Some, however, get an extra day or two if they live in Maine, Massachusetts or Washington, DC, due to observed holidays.', 'And others who live or work in federally declared disaster areas will have even more time both to file and pay thanks to IRS-granted extensions.', 'The IRS has also given an extension to individuals and businesses affected by the October 7 terrorist attacks in Israel.', 'But if you are not in any of those situations, and you can’t file a full return by Monday, at the very least submit Form 4868 to get an automatic six-month extension to file.', 'Keep in mind that this is only an extension to file your return and avoid a failure-to-file penalty.', 'It is not an extension to pay whatever outstanding balance you owe.', 'That amount is still due on April 15.', 'So, if you expect you still owe money, in addition to filing for an extension, send in a payment to the IRS by Monday that best approximates what you think is the amount due.', 'To get a reasonable estimate, look at your return from the prior year and figure out what, if anything, changed for you in 2023, said Tom O’Saben, director of tax content at the National Association of Tax Professionals.', 'Think in terms of your sources of income (wages, dividends, interest, capital gains, rental income, taxable withdrawals from retirement accounts, etc.).', 'Also consider any big life changes you’ve experienced like having a child or getting married or divorced, which may have tax implications for you.', 'But if all that is too complicated for you at the moment, O’Saben recommends at least doing a quick calculation to get a ballpark estimate of whether you owe more than what you’ve already paid the IRS for last year: “Multiply your [2023] income by 20% and make sure that you have already paid [that much],” he said.', 'If you haven’t, then send in a payment making up the difference by Monday.', 'For some people making less than $200,000, the 20% calculation may overestimate your tax liability but that will protect you from getting hit with penalties, he said.', 'If your household income is more than $200,000, however, it may underestimate what you owe and you’d be better off using 30% in your calculations.', 'Failing to file on time when you still owe taxes will subject you to a failure-to-file penalty, which is based on how late your return is and the amount of your unpaid tax.', 'Specifically, it will be 5% of your unpaid taxes for each month — or part of a month — that your return is late.', 'The IRS notes, however, this penalty will not exceed 25% of your unpaid taxes.', 'If you don’t pay what you owe by your tax-filing deadline you will also be hit with a failure-to-pay penalty.', 'That amounts to 0.5% of your outstanding balance every month or part of a month it goes unpaid.', 'It, too, will not exceed 25% of the total.', 'If both a failure-to-file and a failure-to-pay penalty apply in the same month, you won’t be charged more than a total of 5% (4.5% for failure to file and 0.5% for failure to pay), according to the IRS.', 'Keep in mind, too, your outstanding balance will be subject to interest.', 'That is why even if you can’t afford to pay what you owe in full by Monday, at least send in a partial payment to reduce the amount of penalties and interest that will accrue.', 'And read up on the different ways you can work out a repayment plan with the IRS, which may further limit your penalties and interest.', 'If you owe a lot, it may be worth getting advice from an enrolled agent, certified public accountant or tax attorney who can represent you before the IRS to make sure you are choosing the best plan for your circumstances.', 'Special note for gig workers, freelancers and sole proprietors: Even if you file on time and pay all that you owe by April 15, you may be subject to an underpayment penalty if you either neglected to pay your estimated taxes quarterly throughout the year, or paid less than you owed in any given quarter.', 'If you’re a late filer who is owed a refund, in reality, you won’t be hit with a failure-to-file penalty if you miss your deadline.', '“The fact of the matter is that these penalties only apply in circumstances where the taxpayer owes taxes, and they are not paid by the due date.', 'If a taxpayer is due a refund, the April 15 date, in a practical sense, means nothing.', 'The taxpayer can file their return for up to three years after the original due date and the IRS will not only issue their refund but will pay the taxpayer interest on the refund,” O’Saben said.', 'But do file within that time frame, he cautioned. “', 'If you go beyond the three-year limit after the original due date, even if you are due a refund, you will no longer be entitled to it.”']",0.0420886305552936,"If you owe a lot, it may be worth getting advice from an enrolled agent, certified public accountant or tax attorney who can represent you before the IRS to make sure you are choosing the best plan for your circumstances.","If both a failure-to-file and a failure-to-pay penalty apply in the same month, you won’t be charged more than a total of 5% (4.5% for failure to file and 0.5% for failure to pay), according to the IRS.",-0.1445733706156412,And others who live or work in federally declared disaster areas will have even more time both to file and pay thanks to IRS-granted extensions.,If you don’t pay what you owe by your tax-filing deadline you will also be hit with a failure-to-pay penalty.,2024-04-12 -Jamie Dimon says chance of a bad economy is ‘higher than other people think’,https://edition.cnn.com/2024/04/12/investing/jpmorgan-chase-bank-earnings-q1/index.html," - Updated - 10:15 AM EDT, Fri April 12, 2024 - ","JPMorgan Chase, the largest bank in the United States, kicked off earnings season Friday with a beat, but also a warning about geopolitical threats that could hurt the global economy. - - The bank’s first-quarter revenue increased by 9% from the year before, to $41.9 billion. That’s more than analysts surveyed by FactSet had expected. - - Earnings per share came in at $4.44, also higher than the $4.17 estimated by FactSet. - - Still, CEO Jamie Dimon warned investors that trouble could lie ahead. “Many economic indicators continue to be favorable. However, looking ahead, we remain alert to a number of significant uncertain forces,” he wrote in a press release Friday. - - Dimon cited growing geopolitical tensions and “persistent inflationary pressures, which may likely continue,” as ongoing worries. - - “We do not know how these factors will play out, but we must prepare the Firm for a wide range of potential environments to ensure that we can consistently be there for clients,” he said. - - On a call with reporters Friday morning, Dimon said American consumers still have excess savings, stocks are higher and unemployment is low. “Even if we go into recession, they’re in pretty good shape,” he noted. But he also said that lower-income earners are quickly running out of extra money. The bank is beginning to see some cracks in the subprime auto loan market. - - Dimon, calling in from an investment banking conference in Florida, told reporters that he believes market pricing is likely “too happy” right now and that the chance of a bad outcome is “higher than other people think.” - - But, Dimon said, “the important thing isn’t the economy — whether we have a mild recession or soft landing or something like that,” he said, referring to a scenario where inflation is vanquished without raising unemployment levels. What’s important, he said, “is the future of the free world,” referring to Russia’s war on Ukraine. - - “It could be determinative on what happens to the global economy if oil and gas prices go too high,” Dimon said. - - JPMorgan Chase acquired most of First Republic Bank’s assets last May after the San Francisco-based regional bank was seized by the government. - - That acquisition added billions of dollars in loans to the bank’s balance sheet, boosting its income from interest. - - JPMorgan Chase reported that average loans had increased 16% from the year before, mostly because of First Republic. Net interest income, or NII, from those loans (that’s the money a bank earns from loans minus the interest it pays on deposits) increased by 11% to $23.2 billion. - - But the bank also said that NII could fall short of Wall Street expectations for the year. - - Net interest income has been a key metric for analysts this quarter as they look to see how banks react to elevated interest rates by the Federal Reserve. - - Banks, including JPMorgan, have brought in record profits, boosted by NII, as the central bank raised interest rates. - - JPMorgan Chase also said on Friday that it would take a one-time $725 million charge by the Federal Deposit Insurance Corporation related to the mess that Silicon Valley Bank and Signature Bank left in the wake of their collapses last spring. It was large banks that mostly footed that bill. - - Shares of the bank fell by 4.3% in morning trading but are up 45% over the last 12 months. - - Separately, investment giant BlackRock reported that its assets under management swelled to a record $10.5 trillion during the first quarter. The company also beat top- and bottom-line expectations. - - Wells Fargo, which also reported its first-quarter earnings Friday, topped Wall Street’s expectations but saw an 8% decline in net interest income from the prior year. The company also noted a $284 million expense during the first quarter related to the FDIC’s special assessment. - - Citigroup reported net income of $3.4 billion in the first quarter, or $1.58 a share, outpacing analysts’ expectations for $1.18 a share, according to FactSet. CEO Jane Fraser said Friday the bank finished its organizational restructuring, which included layoffs, last month. The company saw $225 million in restructuring charges during the first quarter, largely driven by severance and other corporate reshuffling costs. Citi also noted a $251 million expense related to the FDIC’s cleanup of the regional bank collapses last year. - - Shares of Wells Fargo were up slightly on Friday morning while shares of BlackRock and Citigroup fell.",CNN,12/04/2024,"['JPMorgan Chase, the largest bank in the United States, kicked off earnings season Friday with a beat, but also a warning about geopolitical threats that could hurt the global economy.', 'The bank’s first-quarter revenue increased by 9% from the year before, to $41.9 billion.', 'That’s more than analysts surveyed by FactSet had expected.', 'Earnings per share came in at $4.44, also higher than the $4.17 estimated by FactSet.', 'Still, CEO Jamie Dimon warned investors that trouble could lie ahead. “', 'Many economic indicators continue to be favorable.', 'However, looking ahead, we remain alert to a number of significant uncertain forces,” he wrote in a press release Friday.', 'Dimon cited growing geopolitical tensions and “persistent inflationary pressures, which may likely continue,” as ongoing worries.', '“We do not know how these factors will play out, but we must prepare the Firm for a wide range of potential environments to ensure that we can consistently be there for clients,” he said.', 'On a call with reporters Friday morning, Dimon said American consumers still have excess savings, stocks are higher and unemployment is low. “', 'Even if we go into recession, they’re in pretty good shape,” he noted.', 'But he also said that lower-income earners are quickly running out of extra money.', 'The bank is beginning to see some cracks in the subprime auto loan market.', 'Dimon, calling in from an investment banking conference in Florida, told reporters that he believes market pricing is likely “too happy” right now and that the chance of a bad outcome is “higher than other people think.”', 'But, Dimon said, “the important thing isn’t the economy — whether we have a mild recession or soft landing or something like that,” he said, referring to a scenario where inflation is vanquished without raising unemployment levels.', 'What’s important, he said, “is the future of the free world,” referring to Russia’s war on Ukraine.', '“It could be determinative on what happens to the global economy if oil and gas prices go too high,” Dimon said.', 'JPMorgan Chase acquired most of First Republic Bank’s assets last May after the San Francisco-based regional bank was seized by the government.', 'That acquisition added billions of dollars in loans to the bank’s balance sheet, boosting its income from interest.', 'JPMorgan Chase reported that average loans had increased 16% from the year before, mostly because of First Republic.', 'Net interest income, or NII, from those loans (that’s the money a bank earns from loans minus the interest it pays on deposits) increased by 11% to $23.2 billion.', 'But the bank also said that NII could fall short of Wall Street expectations for the year.', 'Net interest income has been a key metric for analysts this quarter as they look to see how banks react to elevated interest rates by the Federal Reserve.', 'Banks, including JPMorgan, have brought in record profits, boosted by NII, as the central bank raised interest rates.', 'JPMorgan Chase also said on Friday that it would take a one-time $725 million charge by the Federal Deposit Insurance Corporation related to the mess that Silicon Valley Bank and Signature Bank left in the wake of their collapses last spring.', 'It was large banks that mostly footed that bill.', 'Shares of the bank fell by 4.3% in morning trading but are up 45% over the last 12 months.', 'Separately, investment giant BlackRock reported that its assets under management swelled to a record $10.5 trillion during the first quarter.', 'The company also beat top- and bottom-line expectations.', 'Wells Fargo, which also reported its first-quarter earnings Friday, topped Wall Street’s expectations but saw an 8% decline in net interest income from the prior year.', 'The company also noted a $284 million expense during the first quarter related to the FDIC’s special assessment.', 'Citigroup reported net income of $3.4 billion in the first quarter, or $1.58 a share, outpacing analysts’ expectations for $1.18 a share, according to FactSet.', 'CEO Jane Fraser said Friday the bank finished its organizational restructuring, which included layoffs, last month.', 'The company saw $225 million in restructuring charges during the first quarter, largely driven by severance and other corporate reshuffling costs.', 'Citi also noted a $251 million expense related to the FDIC’s cleanup of the regional bank collapses last year.', 'Shares of Wells Fargo were up slightly on Friday morning while shares of BlackRock and Citigroup fell.']",0.1478049605649187,"Banks, including JPMorgan, have brought in record profits, boosted by NII, as the central bank raised interest rates.","JPMorgan Chase, the largest bank in the United States, kicked off earnings season Friday with a beat, but also a warning about geopolitical threats that could hurt the global economy.",0.242448696068355,"JPMorgan Chase reported that average loans had increased 16% from the year before, mostly because of First Republic.","Wells Fargo, which also reported its first-quarter earnings Friday, topped Wall Street’s expectations but saw an 8% decline in net interest income from the prior year.",2024-04-12 -Greece offers hotel vouchers to wildfire evacuees,https://www.bbc.co.uk/news/business-68790002,2024-04-11T12:42:25.000Z,"Holidaymakers who were evacuated from Rhodes last year due to wildfires will be offered vouchers for money off hotel stays, the Greek government has said. The Rodos Week scheme is for holidaymakers who were evacuated from hotels in July 2023, but will not cover those who stayed in AirBnBs. The vouchers will be worth up to €500 (£430) and the stay must be for seven nights. Thousands of UK holidaymakers were flown home due to the fires last year. Holidaymakers are being offered vouchers for two periods: in the spring between 10 April and 31 May, and in the autumn between 1 October and 15 November. The value of the vouchers offered will depend on the original booking that was cut short. For example, if people were staying in a three-star hotel in up to a triple room they would get vouchers worth €300. Holidaymakers will have to book for at least seven nights, with six of them consecutive. The Greek Ministry of Tourism has been putting together a list of affected holidaymakers using data provided by hotels in Greece and tour operators. Those who are on the list should already have been sent an email to complete their registration. If affected holidaymakers have not been contacted, they will be able to apply for vouchers. The deadline for applications for vouchers for the spring has already passed, but it will be possible to make an application for the autumn. Last summer, a heatwave in Greece saw temperatures exceed 40C (104F) across the country. Fires, fanned by strong winds, raged on Rhodes, and also affected Corfu. At the time, Greek Prime Minister Kyriakos Mitsotakis said there was ""no magic defence"" considering ""what the entire planet is facing, especially the Mediterranean, which is a hotspot for climate change"". According to the United Nations, July 2023 was the hottest month ever recorded. ",BBC,11/04/2024,"['Holidaymakers who were evacuated from Rhodes last year due to wildfires will be offered vouchers for money off hotel stays, the Greek government has said.', 'The Rodos Week scheme is for holidaymakers who were evacuated from hotels in July 2023, but will not cover those who stayed in AirBnBs.', 'The vouchers will be worth up to €500 (£430) and the stay must be for seven nights.', 'Thousands of UK holidaymakers were flown home due to the fires last year.', 'Holidaymakers are being offered vouchers for two periods: in the spring between 10 April and 31 May, and in the autumn between 1 October and 15 November.', 'The value of the vouchers offered will depend on the original booking that was cut short.', 'For example, if people were staying in a three-star hotel in up to a triple room they would get vouchers worth €300.', 'Holidaymakers will have to book for at least seven nights, with six of them consecutive.', 'The Greek Ministry of Tourism has been putting together a list of affected holidaymakers using data provided by hotels in Greece and tour operators.', 'Those who are on the list should already have been sent an email to complete their registration.', 'If affected holidaymakers have not been contacted, they will be able to apply for vouchers.', 'The deadline for applications for vouchers for the spring has already passed, but it will be possible to make an application for the autumn.', 'Last summer, a heatwave in Greece saw temperatures exceed 40C (104F) across the country.', 'Fires, fanned by strong winds, raged on Rhodes, and also affected Corfu.', 'At the time, Greek Prime Minister Kyriakos Mitsotakis said there was ""no magic defence"" considering ""what the entire planet is facing, especially the Mediterranean, which is a hotspot for climate change"".', 'According to the United Nations, July 2023 was the hottest month ever recorded.']",0.0418922157021431,"According to the United Nations, July 2023 was the hottest month ever recorded.","At the time, Greek Prime Minister Kyriakos Mitsotakis said there was ""no magic defence"" considering ""what the entire planet is facing, especially the Mediterranean, which is a hotspot for climate change"".",0.0169252455234527,"According to the United Nations, July 2023 was the hottest month ever recorded.","Last summer, a heatwave in Greece saw temperatures exceed 40C (104F) across the country.",2024-04-12 -"Boeing spent $500,000 more than it previously disclosed on personal private jet trips for top executives",https://edition.cnn.com/2024/04/11/business/boeing-executives-personal-air-travel-costs/index.html," - Published - 2:56 PM EDT, Thu April 11, 2024 - ","Embattled airplane maker Boeing disclosed it lavished an additional $546,000 on the cost of personal air travel in recent years for four top executives, including CEO Dave Calhoun, who announced last month that he will leave the company by the end of the year. - - The increased spending estimate, disclosed in a recent company filing, brought the total cost to the company for the personal air travel for the four to $1.9 million since 2021. Besides Calhoun, the other executives include CFO Brian West; Stan Deal, who recently departed as CEO of its commercial airplane unit; and Theodore Colbert, the CEO of its defense, space and security business. - - The disclosure comes as the plane maker is facing additional scrutiny for a series of safety incidents, including a midair blowout of part of a fuselage in January, which prompted a number of investigations into the company’s practices, an executive shakeup and promises that the company will turn itself around. - - The air travel is part of what are known as perquisites, or perks granted the executives, which also include ground transportation, lodging and meals during personal travel. - - And for air travel, the reported costs include only the incremental costs to Boeing, such as fuel, crew travel expenses, on-board meals, landing fees, and parking costs. It does not include the cost of the corporate jets or the salaries of the flight crew, which Boeing said it would be paying whether or not the executives made the personal trips. - - The cost of personal air travel by Calhoun alone came to $979,000 during those three years. - - The upward adjustment means that Boeing spent at least $734,000 in 2022 and $306,000 in 2021 on these executives’ personal air travel, according to figures provided. Some of the amounts for air travel for Colbert and Deal are not broken out for the earlier years, despite the increased cost now being reported for those years for all four. And 2023 personal air travel costs for the four came to $872,000. - - Boeing has been struggling financially for five years, since fatal crashes of its 737 Max in late 2018 and early 2019 resulted in a 20-month grounding of its best-selling plane. It was also hit by the pandemic, which caused a near-halt in air travel for months and deep losses at most airlines that buy its planes. - - Since the start of the grounding in 2019 the company has reported adjusted losses totaling more than $31 billion, and losses are projected to continue going forward. - - Company policy requires its CEO to fly on its fleet of private jets, or leased aircraft, even when flying for personal reasons for security reasons, and the other top executives are permitted to do so as well when aircraft are available. - - But an internal company review of some of the flights that had previously been classified as business travel determined the flights should be classified as personal travel under Securities and Exchange Commission rules, according to the filing. That review resulted in a newly reported cost of personal travel that was $546,000 more in 2022 and 2021 than previously disclosed. - - That review appears to have been conducted after a September 2023 article in the Wall Street Journal detailing the perks of top Boeing executives, including the liberal use of the aircraft to travel from homes far from company headquarters in Alexandria, Virginia. - - The new filing came Friday evening. Boeing did not have any comment on the costs of the executives’ personal air travel beyond the information in the filing. - - That Friday filing also disclosed that Calhoun’s total compensation for 2023 came to $32.8 million, up 45% from his 2022 compensation. He did decline his annual incentive bonus, which would have paid him an additional $2.8 million, after a Boeing 737 Max plane being flown by Alaska Airlines on January 5 had a door plug blow out, leaving a gaping hole in the side of the plane. - - The incident sparked a series of federal investigations, a temporary grounding, executive ousters and renewed questions about the safety and quality of Boeing planes. - - Last month, Calhoun announced he would step down as CEO of the embattled aircraft maker by the end of the year. At the same time, it was announced that Deal would retire from his position atop Boeing Commercial Airplanes, effective immediately.",CNN,11/04/2024,"['Embattled airplane maker Boeing disclosed it lavished an additional $546,000 on the cost of personal air travel in recent years for four top executives, including CEO Dave Calhoun, who announced last month that he will leave the company by the end of the year.', 'The increased spending estimate, disclosed in a recent company filing, brought the total cost to the company for the personal air travel for the four to $1.9 million since 2021.', 'Besides Calhoun, the other executives include CFO Brian West; Stan Deal, who recently departed as CEO of its commercial airplane unit; and Theodore Colbert, the CEO of its defense, space and security business.', 'The disclosure comes as the plane maker is facing additional scrutiny for a series of safety incidents, including a midair blowout of part of a fuselage in January, which prompted a number of investigations into the company’s practices, an executive shakeup and promises that the company will turn itself around.', 'The air travel is part of what are known as perquisites, or perks granted the executives, which also include ground transportation, lodging and meals during personal travel.', 'And for air travel, the reported costs include only the incremental costs to Boeing, such as fuel, crew travel expenses, on-board meals, landing fees, and parking costs.', 'It does not include the cost of the corporate jets or the salaries of the flight crew, which Boeing said it would be paying whether or not the executives made the personal trips.', 'The cost of personal air travel by Calhoun alone came to $979,000 during those three years.', 'The upward adjustment means that Boeing spent at least $734,000 in 2022 and $306,000 in 2021 on these executives’ personal air travel, according to figures provided.', 'Some of the amounts for air travel for Colbert and Deal are not broken out for the earlier years, despite the increased cost now being reported for those years for all four.', 'And 2023 personal air travel costs for the four came to $872,000.', 'Boeing has been struggling financially for five years, since fatal crashes of its 737 Max in late 2018 and early 2019 resulted in a 20-month grounding of its best-selling plane.', 'It was also hit by the pandemic, which caused a near-halt in air travel for months and deep losses at most airlines that buy its planes.', 'Since the start of the grounding in 2019 the company has reported adjusted losses totaling more than $31 billion, and losses are projected to continue going forward.', 'Company policy requires its CEO to fly on its fleet of private jets, or leased aircraft, even when flying for personal reasons for security reasons, and the other top executives are permitted to do so as well when aircraft are available.', 'But an internal company review of some of the flights that had previously been classified as business travel determined the flights should be classified as personal travel under Securities and Exchange Commission rules, according to the filing.', 'That review resulted in a newly reported cost of personal travel that was $546,000 more in 2022 and 2021 than previously disclosed.', 'That review appears to have been conducted after a September 2023 article in the Wall Street Journal detailing the perks of top Boeing executives, including the liberal use of the aircraft to travel from homes far from company headquarters in Alexandria, Virginia.', 'The new filing came Friday evening.', 'Boeing did not have any comment on the costs of the executives’ personal air travel beyond the information in the filing.', 'That Friday filing also disclosed that Calhoun’s total compensation for 2023 came to $32.8 million, up 45% from his 2022 compensation.', 'He did decline his annual incentive bonus, which would have paid him an additional $2.8 million, after a Boeing 737 Max plane being flown by Alaska Airlines on January 5 had a door plug blow out, leaving a gaping hole in the side of the plane.', 'The incident sparked a series of federal investigations, a temporary grounding, executive ousters and renewed questions about the safety and quality of Boeing planes.', 'Last month, Calhoun announced he would step down as CEO of the embattled aircraft maker by the end of the year.', 'At the same time, it was announced that Deal would retire from his position atop Boeing Commercial Airplanes, effective immediately.']",0.1420579420400226,"He did decline his annual incentive bonus, which would have paid him an additional $2.8 million, after a Boeing 737 Max plane being flown by Alaska Airlines on January 5 had a door plug blow out, leaving a gaping hole in the side of the plane.","Since the start of the grounding in 2019 the company has reported adjusted losses totaling more than $31 billion, and losses are projected to continue going forward.",-0.2002067923545837,"That Friday filing also disclosed that Calhoun’s total compensation for 2023 came to $32.8 million, up 45% from his 2022 compensation.","It was also hit by the pandemic, which caused a near-halt in air travel for months and deep losses at most airlines that buy its planes.",2024-04-12 -Dow tumbles more than 500 points on fears of potential Iranian attack on Israel,https://edition.cnn.com/2024/04/12/investing/stocks-oil-banks-geopolitics/index.html," - Updated - 2:45 PM EDT, Fri April 12, 2024 - ","US stocks fell sharply Friday as Wall Street worried about escalating tension in the Middle East and traders rushed to safe havens like bonds and gold. - - The Dow fell 538 points, or 1.4%, mid-afternoon. The S&P 500 declined 1.6% and the Nasdaq Composite lost 1.8%. - - The US and Israel are on alert for a potential attack by Iran or its proxies, the White House said Friday, after an Israeli strike in Damascus last week. - - Oil prices spiked on Friday on fears of intensifying regional tensions stoked by the war in Gaza. Brent crude futures, the international benchmark for oil, rose to $90.42 a barrel, retreating after touching its highest level since October. West Texas Intermediate crude futures, the US benchmark, climbed to $85.65 a barrel. - - Growing tensions in the Middle East and the impact it could have on oil prices is “a wild card” in two ways, Chicago Federal Reserve President Austan Goolsbee said in a Fox Business interview on Friday. - - One concern he has is how it will impact overall headline inflation if prices spike. The other concern is how it could raise production costs across the economy given gas prices are a major input. That would be “a negative supply shock,” which he said could lead “to a more stagflationary environment,” where prices rise but the economy stalls. - - “We’re going to have to definitely keep an eye on commodity prices,” added Goolsbee, who is not voting on interest rate decisions this year. - - Investors rushed to haven investments Friday as geopolitical concerns and spiking oil prices rattled Wall Street. The price of the most actively traded gold futures contract rose to roughly $2,379 a troy ounce, retreating from a new record high of $2,448.80 hit earlier in the day. - - Treasury yields declined as traders sought out bonds. The iShares Core US Aggregate Bond exchange-traded fund, which tracks the performance of US investment-grade bonds, rose 0.4%. - - CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, was at a “neutral” reading, pulling back from a “greed” reading the prior close. - - Investors also focused on the start of the first-quarter earnings season. - - JPMorgan Chase CEO Jamie Dimon warned investors Friday that while strong economic data is reassuring, geopolitical turmoil and persistent inflation are key causes of concern. He also cited Russia’s war with Ukraine as an ongoing concern. - - “It could be determinative on what happens to the global economy if oil and gas prices go too high,” Dimon told reporters after the bank’s first-quarter results released Friday morning. - - JPMorgan Chase shares fell 5.6% Friday. - - The concerns about geopolitical turmoil come at an already trying time for investors, who are contending with worries that persistent inflation could lead the Federal Reserve to cut interest rates later than expected after raising them to a 23-year high. Some Fed officials have even said that rate hikes aren’t off the table, though it’s unlikely, if the central bank’s progress on inflation stalls. - - Elsewhere, fresh data showed that Americans’ attitudes toward the economy have dampened over the past few months as inflation stays stubborn. The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading released Friday. - - This story is developing and will be updated.",CNN,12/04/2024,"['US stocks fell sharply Friday as Wall Street worried about escalating tension in the Middle East and tradersrushed tosafe havens like bonds and gold.', 'The Dow fell 538 points, or 1.4%, mid-afternoon.', 'The S&P 500 declined 1.6% and the Nasdaq Composite lost 1.8%.', 'The US and Israelare on alertfor a potential attack by Iran or its proxies, the White House said Friday, after an Israeli strike in Damascus last week.', 'Oil prices spiked on Friday on fears of intensifying regional tensions stoked by the war in Gaza.', 'Brent crude futures, the international benchmark for oil, rose to $90.42 a barrel, retreating after touching its highest level since October.', 'West Texas Intermediate crude futures, the US benchmark, climbed to $85.65 a barrel.', 'Growing tensions in the Middle East and the impact it could have on oil prices is “a wild card” in two ways, Chicago Federal Reserve President Austan Goolsbee said in a Fox Business interview on Friday.', 'One concern he has is how it will impact overall headline inflation if prices spike.', 'The other concern is how it could raise production costs across the economy given gas prices are a major input.', 'That would be “a negative supply shock,” which he said could lead “to a more stagflationary environment,” where prices rise but the economy stalls.', '“We’re going to have to definitely keep an eye on commodity prices,” added Goolsbee, who is not voting on interest rate decisions this year.', 'Investors rushed to haven investments Friday as geopolitical concerns and spiking oil prices rattled Wall Street.', 'The price of the most actively traded gold futures contract rose to roughly $2,379 a troy ounce, retreating from a new record high of $2,448.80 hit earlier in the day.', 'Treasury yields declined as traders sought out bonds.', 'The iShares Core US Aggregate Bond exchange-traded fund, which tracks the performance of US investment-grade bonds, rose 0.4%.', 'CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, was at a “neutral” reading, pulling back from a “greed” reading the prior close.', 'Investors also focused on the start of the first-quarter earnings season.', 'JPMorgan Chase CEO Jamie Dimon warned investors Friday that while strong economic data is reassuring, geopolitical turmoil and persistent inflation are key causes of concern.', 'He also cited Russia’s war with Ukraine as an ongoing concern.', '“It could be determinative on what happens to the global economy if oil and gas prices go too high,” Dimon told reporters after the bank’s first-quarter results released Friday morning.', 'JPMorgan Chase shares fell 5.6% Friday.', 'The concerns about geopolitical turmoil come at an already trying time for investors, who are contending with worries that persistent inflation could lead the Federal Reserve to cut interest rates later than expected after raising them to a 23-year high.', 'Some Fed officials have even said that rate hikes aren’t off the table, though it’s unlikely, if the central bank’s progress on inflation stalls.', 'Elsewhere, fresh data showed that Americans’ attitudes toward the economy have dampened over the past few months as inflation stays stubborn.', 'The University of Michigan’s latest consumer survey showed that sentiment largely held steady in April, according to a preliminary reading released Friday.', 'This story is developing and will be updated.']",-0.1318431454870086,"Some Fed officials have even said that rate hikes aren’t off the table, though it’s unlikely, if the central bank’s progress on inflation stalls.",Oil prices spiked on Friday on fears of intensifying regional tensions stoked by the war in Gaza.,-0.3665848344564438,"The iShares Core US Aggregate Bond exchange-traded fund, which tracks the performance of US investment-grade bonds, rose 0.4%.",US stocks fell sharply Friday as Wall Street worried about escalating tension in the Middle East and tradersrushed tosafe havens like bonds and gold.,2024-04-12 -Your ultimate guide to the American Express Membership Rewards program,https://edition.cnn.com/cnn-underscored/travel/american-express-membership-rewards-guide," - Updated - 1:03 PM EDT, Mon April 1, 2024 - ","American Express Membership Rewards® are among the most valuable travel rewards points out there. That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them. - - In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio. - - Having Membership Rewards points gives you options, and that’s always a good thing. If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards. - - You can earn Membership Rewards points in various ways. Some require little effort, while others involve a heavier lift. It’s a good idea to take advantage of all the options out there in order to maximize your earnings. Here’s a look at how to earn Membership Rewards most efficiently. - - The primary way to earn Amex points is through credit cards that earn Membership Rewards. Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points. - - These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card. With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance. Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards. - - Keep in mind, too, that many of these cards carry an annual fee: - - All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored. - - Similarly, American Express offers a suite of business credit cards. - - All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored. - - Keep in mind that several of these cards also carry an annual fee: - - Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses. If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year). - - If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel. Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others. - - When applying for American Express cards, be sure to take note of the application rules. For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days. Before applying for a credit card, it’s important to do your research. - - As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer. One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points. - - Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings. That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases. - - Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger. - - If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends. - - American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card. You can earn up to 20,000 points per successful approval, though the exact bonus varies by card. - - To find out your card’s current referral bonus, head over to the Amex referral site. You’ll see referral bonuses based on your card. Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card. You can also copy the referral link on the page and share that with your friends and family directly. - - Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family. Keep in mind there is a limit to how many friends you can refer in a year. - - Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards. For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel. - - As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection. In general, booking travel through American Express pays off in more ways than one. - - Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers. With Amex Offers, card holders can earn statement credits or bonus points at select retailers. In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making. - - To find and take advantage of Amex Offers, you’ll need to log in to your account. From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page. Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer. From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase. Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make. - - Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards. It’s a great way to earn Membership Rewards points on regular purchases, without much added effort. - - If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards. Simply log into your account and follow these steps: - - After this, rewards get transferred to your Membership Rewards account quarterly. - - Now, for the fun part! Once you’ve earned Membership Rewards points, it’s time to put them to good use. Amex gives you several options to redeem points, but the best option is travel. You can choose between statement credits for travel bookings or transferring them to airline or hotel partners. - - Here’s a closer look at your options and how they work. - - American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners. The best way to redeem Membership Rewards for maximum value is through airline transfers. But keep in mind that not all airline loyalty programs are equal. - - Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points. - - If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate. - - It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels. So, at times, you can get more points in return than the standard transfer rate listed above. Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less. - - By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. - - Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines. - - Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you. But, some redemptions are better than others — particularly when it comes to award sweet spots. - - Some examples of these sweet spot awards using your Amex Membership Rewards points include the following: - - Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners. But that may not always make sense for all card holders — and it’s not your only option. - - If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions. This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards. - - Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value. If you’re looking to maximize the value of your Amex points, this isn’t the best route to take. - - You’ll get slightly more value by redeeming your Membership Rewards for travel bookings. By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings. Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel. - - If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value. However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there. - - Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points. However, that’s not always the case for everyone. You may want to save a few dollars here or there on a purchase you’re making online. Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more. - - When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them. The value you can get ranges from about 0.6 cents each to about 2 cents each. Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece. - - Amex offers 0.6 cents per point in value when you use points for statement credits. Meanwhile, travel bookings will get you a somewhat higher 1 cent per point. The highest value comes from transferring points to airline and hotel partners, as detailed above. Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions. - - American Express Membership Rewards points are some of the most versatile and valuable out there. By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more. Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding. - - Click here for rates and fees of the Amex Platinum card.Click here for rates and fees of the Amex Gold card.Click here for rates and fees of the Amex Business Platinum card.Click here for rates and fees of the Amex Business Gold card.Click here for rates and fees of the Amex Blue Business Plus card. - - Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,01/04/2024,"['American Express Membership Rewards® are among the most valuable travel rewards points out there.', 'That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.', 'In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.', 'Having Membership Rewards points gives you options, and that’s always a good thing.', 'If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.', 'You can earn Membership Rewards points in various ways.', 'Some require little effort, while others involve a heavier lift.', 'It’s a good idea to take advantage of all the options out there in order to maximize your earnings.', 'Here’s a look at how to earn Membership Rewards most efficiently.', 'The primary way to earn Amex points is through credit cards that earn Membership Rewards.', 'Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.', 'These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card.', 'With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.', 'Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.', 'Keep in mind, too, that many of these cards carry an annual fee: All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.', 'Similarly, American Express offers a suite of business credit cards.', 'All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.', 'Keep in mind that several of these cards also carry an annual fee: Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses.', 'If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).', 'If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel.', 'Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.', 'When applying for American Express cards, be sure to take note of the application rules.', 'For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days.', 'Before applying for a credit card, it’s important to do your research.', 'As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer.', 'One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.', 'Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings.', 'That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.', 'If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.', 'American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card.', 'You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.', 'To find out your card’s current referral bonus, head over to the Amex referral site.', 'You’ll see referral bonuses based on your card.', 'Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card.', 'You can also copy the referral link on the page and share that with your friends and family directly.', 'Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family.', 'Keep in mind there is a limit to how many friends you can refer in a year.', 'Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards.', 'For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.', 'As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection.', 'In general, booking travel through American Express pays off in more ways than one.', 'Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers.', 'With Amex Offers, card holders can earn statement credits or bonus points at select retailers.', 'In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.', 'To find and take advantage of Amex Offers, you’ll need to log in to your account.', 'From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page.', 'Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer.', 'From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase.', 'Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.', 'Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards.', 'It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.', 'If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards.', 'Simply log into your account and follow these steps: After this, rewards get transferred to your Membership Rewards account quarterly.', 'Now, for the fun part!', 'Once you’ve earned Membership Rewards points, it’s time to put them to good use.', 'Amex gives you several options to redeem points, but the best option is travel.', 'You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.', 'Here’s a closer look at your options and how they work.', 'American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners.', 'The best way to redeem Membership Rewards for maximum value is through airline transfers.', 'But keep in mind that not all airline loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.', 'It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels.', 'So, at times, you can get more points in return than the standard transfer rate listed above.', 'Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.', 'By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.', 'Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you.', 'But, some redemptions are better than others — particularly when it comes to award sweet spots.', 'Some examples of these sweet spot awards using your Amex Membership Rewards points include the following: Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions.', 'This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.', 'Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value.', 'If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.', 'You’ll get slightly more value by redeeming your Membership Rewards for travel bookings.', 'By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings.', 'Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.', 'If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value.', 'However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.', 'Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points.', 'However, that’s not always the case for everyone.', 'You may want to save a few dollars here or there on a purchase you’re making online.', 'Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.', 'When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them.', 'The value you can get ranges from about 0.6 cents each to about 2 cents each.', 'Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.', 'Amex offers 0.6 cents per point in value when you use points for statement credits.', 'Meanwhile, travel bookings will get you a somewhat higher 1 cent per point.', 'The highest value comes from transferring points to airline and hotel partners, as detailed above.', 'Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.', 'American Express Membership Rewards points are some of the most versatile and valuable out there.', 'By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more.', 'Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.', 'Click here for rates and fees of the Amex Platinum card.', 'Click here for rates and fees of the Amex Gold card.', 'Click here for rates and fees of the Amex Business Platinum card.', 'Click here for rates and fees of the Amex Business Gold card.', 'Click here for rates and fees of the Amex Blue Business Plus card.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.5246481979610982,"If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.",But keep in mind that not all airline loyalty programs are equal.,0.9622429311275482,"With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.",,2024-04-12 -World of Warcraft: Popular game to return to China,https://www.bbc.co.uk/news/articles/czq5xyj2dw2o,2024-04-10T04:46:07.063Z,"Popular games such as World of Warcraft will be back in China this summer, according to Chinese video games giant NetEase. Last year, NetEase and game developer Activision Blizzard ended their 14-year partnership due to disagreement over intellectual property control. The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games. All games require a local publisher and licences from the Chinese government to operate there. The earlier disagreement escalated into an open feud that saw the two companies sue each other. But the tension eased after Microsoft acquired Activision Blizzard for $69bn (£54bn) in October last year which was the gaming industry's biggest ever deal. “We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. ""We are focused on bringing our universes back to players with excellence and dedication."" Other Blizzard titles which will return to China include Hearthstone, Warcraft, Overwatch, Diablo and StarCraft franchises. China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year. NetEase is the country's second-largest video games company by revenue after Tencent. Microsoft and NetEase also said that they have agreed to explore bringing new NetEase titles to Microsoft's Xbox gaming consoles and its other gaming platforms. “Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming. The lucrative sector has also had frequent run-ins with the authorities. Beijing first moved against the gaming sector in 2021, ruling that online gamers under the age of 18 would only be allowed to play for an hour on Fridays, weekends and holidays. Late last year, the authorities announced further restrictions to limit in-game purchases but China seems to have backtracked on strict rules to combat what the regulator deemed ""obsessive"" gaming. ",BBC,10/04/2024,"['Popular games such as World of Warcraft will be back in China this summer, according to Chinese video games giant NetEase.', 'Last year, NetEase and game developer Activision Blizzard ended their 14-year partnership due to disagreement over intellectual property control.', 'The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.', 'All games require a local publisher and licences from the Chinese government to operate there.', 'The earlier disagreement escalated into an open feud that saw the two companies sue each other.', ""But the tension eased after Microsoft acquired Activision Blizzard for $69bn (£54bn) in October last year which was the gaming industry's biggest ever deal. “"", 'We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. ""', 'We are focused on bringing our universes back to players with excellence and dedication.""', 'Other Blizzard titles which will return to China include Hearthstone, Warcraft, Overwatch, Diablo and StarCraft franchises.', ""China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year."", ""NetEase is the country's second-largest video games company by revenue after Tencent."", ""Microsoft and NetEase also said that they have agreed to explore bringing new NetEase titles to Microsoft's Xbox gaming consoles and its other gaming platforms. “"", 'Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming.', 'The lucrative sector has also had frequent run-ins with the authorities.', 'Beijing first moved against the gaming sector in 2021, ruling that online gamers under the age of 18 would only be allowed to play for an hour on Fridays, weekends and holidays.', 'Late last year, the authorities announced further restrictions to limit in-game purchases but China seems to have backtracked on strict rules to combat what the regulator deemed ""obsessive"" gaming.']",0.0883152421946721,"We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. """,The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.,0.2293050050735473,"China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year.",The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.,2024-04-12 -Boeing hit after new whistleblower raises safety concerns,https://www.bbc.co.uk/news/business-68775413,2024-04-09T21:47:35.000Z,"Boeing is facing new pressure after a whistleblower reported safety concerns over the manufacturing of some of its planes to US regulators. Engineer Sam Salehpour accused Boeing of taking shortcuts in the construction of its 787 and 777 jets. He claimed he was ""threatened with termination"" after raising concerns with bosses. But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""The issues raised have been subject to rigorous engineering examination under [Federal Aviation Administration] oversight,"" the company said. ""This analysis has validated that these issues do not present any safety concerns and the aircraft will maintain its service life over several decades."" Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021. The whistleblower complaint, which was first reported by the New York Times, is the latest incident to focus attention on the safety of planes made by US-based Boeing, one of the world's two major producers of commercial planes. The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January. Passengers escaped serious injury but the incident has plunged the company into crisis, forcing a temporary grounding of dozens of 737 Max 9 planes, drawing regulatory probes and prompting Boeing to dramatically slow production of its planes. The company coming under intense scrutiny again led its chief executive David Calhoun to announce last month that he would step down by the end of the year. On Tuesday, attorneys for engineer Mr Salehpour said Boeing had made decisions for 787 aircraft assembly which placed stress on joints that linked up parts of the body of the jets, an issue affecting more than 1,000 planes. In a whistleblower complaint filed with the FAA in January, he alleged the method could reduce the lifespan of the plane. ""These problems are the direct result of Boeing's decision in recent years to prioritize profits over safety, and a regulator in the FAA that has become too deferential to industry,"" his lawyers, Debra Katz and Lisa Banks, said in a statement. The attorneys added Mr Salehpour had been transferred to work on the 777 plane after he raised concerns. They said he had soon observed other issues in the assembly of that plane. ""He was threatened with termination, excluded from important meetings, projects, and communication, denied reasonable requests for medical leave, assigned work outside of his expertise, and effectively declared persona non grata to his colleagues,"" they said. The 787 Dreamliner is a bigger plane than the 737, often used on international flights. It has been flying commercially since 2011, but almost from the start has been the target of quality complaints. Boeing eventually slowed production and stopped deliveries for almost two years, responding to issues that had been raised. The FAA in 2022 cleared Boeing to resume deliveries. The FAA, which has increased its oversight of Boeing since the door plug blowout in January, said in a statement that it encouraged people in the aviation industry to share information. ""We thoroughly investigate all reports,"" the agency said when asked about the report. ",BBC,09/04/2024,"['Boeing is facing new pressure after a whistleblower reported safety concerns over the manufacturing of some of its planes to US regulators.', 'Engineer Sam Salehpour accused Boeing of taking shortcuts in the construction of its 787 and 777 jets.', 'He claimed he was ""threatened with termination"" after raising concerns with bosses.', 'But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""', 'The issues raised have been subject to rigorous engineering examination under [Federal Aviation Administration] oversight,"" the company said. ""', 'This analysis has validated that these issues do not present any safety concerns and the aircraft will maintain its service life over several decades.""', 'Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021.', ""The whistleblower complaint, which was first reported by the New York Times, is the latest incident to focus attention on the safety of planes made by US-based Boeing, one of the world's two major producers of commercial planes."", 'The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January.', 'Passengers escaped serious injury but the incident has plunged the company into crisis, forcing a temporary grounding of dozens of 737 Max 9 planes, drawing regulatory probes and prompting Boeing to dramatically slow production of its planes.', 'The company coming under intense scrutiny again led its chief executive David Calhoun to announce last month that he would step down by the end of the year.', 'On Tuesday, attorneys for engineer Mr Salehpour said Boeing had made decisions for 787 aircraft assembly which placed stress on joints that linked up parts of the body of the jets, an issue affecting more than 1,000 planes.', 'In a whistleblower complaint filed with the FAA in January, he alleged the method could reduce the lifespan of the plane. ""', 'These problems are the direct result of Boeing\'s decision in recent years to prioritize profits over safety, and a regulator in the FAA that has become too deferential to industry,"" his lawyers, Debra Katz and Lisa Banks, said in a statement.', 'The attorneys added Mr Salehpour had been transferred to work on the 777 plane after he raised concerns.', 'They said he had soon observed other issues in the assembly of that plane. ""', 'He was threatened with termination, excluded from important meetings, projects, and communication, denied reasonable requests for medical leave, assigned work outside of his expertise, and effectively declared persona non grata to his colleagues,"" they said.', 'The 787 Dreamliner is a bigger plane than the 737, often used on international flights.', 'It has been flying commercially since 2011, but almost from the start has been the target of quality complaints.', 'Boeing eventually slowed production and stopped deliveries for almost two years, responding to issues that had been raised.', 'The FAA in 2022 cleared Boeing to resume deliveries.', 'The FAA, which has increased its oversight of Boeing since the door plug blowout in January, said in a statement that it encouraged people in the aviation industry to share information. ""', 'We thoroughly investigate all reports,"" the agency said when asked about the report.']",-0.087826611616349,"But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""","The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January.",-0.5008389143382802,"But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""","Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021.",2024-04-12 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-04-12 -Mortgage rates rise after disappointing March inflation report,https://edition.cnn.com/2024/04/11/economy/mortgage-rates-april-11/index.html," - Updated - 1:10 PM EDT, Thu April 11, 2024 - ","Mortgage rates drifted higher this week, and could increase further, in a sign that America’s affordability crisis isn’t letting up. - - The 30-year fixed-rate mortgage averaged 6.88% in the week ending April 11, up from 6.82% the previous week, according to Freddie Mac data released Thursday. A year ago, the average 30-year fixed-rate was 6.27%. - - Rates have mostly held steady in the past several weeks, but they could rise even higher, potentially crossing the uncomfortable psychological threshold of 7%, if inflation proves to be more stubborn than expected. - - The Federal Reserve doesn’t directly set mortgage rates, but its actions do influence them, and hotter-than-expected inflation readings could keep the central bank from reducing interest rates. - - “Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” said Sam Khater, Freddie Mac’s chief economist, in a release. “While newly released inflation data from March continues to show a trend of very little movement, the financial market’s reaction paints a far different economic picture.” - - Mortgage rates track the benchmark yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions. The yield topped 4.5% Wednesday, the highest level since November, after the latest Consumer Price Index showed persistent price pressures in March. That doesn’t bode well for lower mortgage rates, and economists don’t expect rates to fall below 6% this year, especially if the Fed does not end up cutting interest rates. - - But, for now, officials are still expecting to cut rates at some point this year, though that may happen later than previously expected. That could help alleviate some pressure in the country’s tough housing market. - - Mortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability. The National Association of Realtors said that more homes came to market in February, which helped drive up sales that month. - - Homeowners who locked in a low mortgage rate before the Fed began to lift rates in 2022 have largely preferred not to sell in recent years, contributing to historically low inventory. That may be starting to change. - - Total housing inventory rose 5.9% in February from January, to 1.07 million units. Inventory was up 10.3% in February from a year earlier, giving buyers more choices and helping ease some upward pressure on prices. - - A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers. President Joe Biden has laid out proposals to fix the housing market, such as tax credits and homebuilding initiatives but, even if they receive congressional approval, it’s unclear whether that will be enough. - - Despite recent improvements, and even if the Fed does cut rates, as it has indicated, the main issue continues to be that supply simply is not keeping up with demand, keeping a home purchase out of reach for the vast majority of Americans.",CNN,11/04/2024,"['Mortgage rates drifted higher this week, and could increase further, in a sign that America’s affordability crisis isn’t letting up.', 'The 30-year fixed-rate mortgage averaged 6.88% in the week ending April 11, up from 6.82% the previous week, according to Freddie Mac data released Thursday.', 'A year ago, the average 30-year fixed-rate was 6.27%.', 'Rates have mostly held steady in the past several weeks, but they could rise even higher, potentially crossing the uncomfortable psychological threshold of 7%, if inflation proves to be more stubborn than expected.', 'The Federal Reserve doesn’t directly set mortgage rates, but its actions do influence them, and hotter-than-expected inflation readings could keep the central bank from reducing interest rates.', '“Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” said Sam Khater, Freddie Mac’s chief economist, in a release. “', 'Whilenewly releasedinflation data fromMarch continues to show a trend of very little movement, the financial market’sreactionpaints a far differenteconomicpicture.”', 'Mortgage rates track the benchmark yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions.', 'The yield topped 4.5% Wednesday, the highest level since November, after the latest Consumer Price Index showed persistent price pressures in March.', 'That doesn’t bode well for lower mortgage rates, and economists don’t expect rates to fall below 6% this year, especially if the Fed does not end up cutting interest rates.', 'But, for now, officials are still expecting to cut rates at some point this year, though that may happen later than previously expected.', 'That could help alleviate some pressure in the country’s tough housing market.', 'Mortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability.', 'The National Association of Realtors said that more homes came to market in February, which helped drive up sales that month.', 'Homeowners who locked in a low mortgage rate before the Fed began to lift rates in 2022 have largely preferred not to sell in recent years, contributing to historically low inventory.', 'That may be starting to change.', 'Total housing inventory rose 5.9% in February from January, to 1.07 million units.', 'Inventory was up 10.3% in February from a year earlier, giving buyers more choices and helping ease some upward pressure on prices.', 'A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers.', 'President Joe Biden has laid out proposals to fix the housing market, such as tax credits and homebuilding initiatives but, even if they receive congressional approval, it’s unclear whether that will be enough.', 'Despite recent improvements, and even if the Fed does cut rates, as it has indicated, the main issue continues to be that supply simply is not keeping up with demand, keeping a home purchase out of reach for the vast majority of Americans.']",-0.0104837723884077,"Mortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability.","Rates have mostly held steady in the past several weeks, but they could rise even higher, potentially crossing the uncomfortable psychological threshold of 7%, if inflation proves to be more stubborn than expected.",0.1327732764184475,"Total housing inventory rose 5.9% in February from January, to 1.07 million units.",A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers.,2024-04-12 -Boeing CEO’s penchant for cost-cutting doesn’t apply to his trips on the company jet,https://edition.cnn.com/2024/04/12/investing/boeing-ceo-private-jet-travel-nightcap/index.html," - Published - 8:00 AM EDT, Fri April 12, 2024 - ","When it comes to building planes, Boeing CEO Dave Calhoun is all about streamlining costs. An accountant by training, Calhoun has prioritized fiscal discipline over his four years at the helm, tightening the belt to free up cash flow and put the company on better financial footing. - - But when it comes to living the CEO lifestyle, that thriftiness goes right out the window. - - See here: Boeing reported in a regulatory filing that four top executives, including Calhoun, got an extra half-million dollars worth of personal private jet travel on the company’s dime that had previously been improperly recorded as business travel, my colleague Chris Isidore writes. - - That oopsie was discovered in an internal review, which was prompted by a Wall Street Journal investigation last year into Boeing executives’ private jet travel, the paper reported Thursday. - - To be clear: Boeing requires Calhoun, who is stepping down later this year, to use its private jets for business and personal travel for security reasons. And that’s pretty standard. - - If he’s flying from the company’s headquarters in Arlington, Virginia, to its production facility outside Seattle, that’s generally considered a perk of the job. But when a CEO uses the company jet for a family vacation, that usually counts as taxable income. - - The IRS is a stickler about these things, and it recently announced it would be cracking down on executives who have been illegally writing off personal trips as business expenses. There is no evidence anyone from Boeing was doing that, but the crackdown signals that it’s happening with some regularity in Corporate America. - - Over the last three years, Calhoun racked up $979,000 in personal air travel, according to the company. Boeing did not have any comment beyond the information in the filing. - - In all the chatter about Boeing’s disastrous start to 2024, we’ve barely had time to talk about the crisis looming on the horizon: a potential strike by its largest labor union. - - A 10-year contract covering 30,000 Seattle-area machinists  expires September 12. Negotiations started last month — delayed to give the company some slack while dealing with multiple federal probes into the January 5 door-plug blowout. - - The machinists are seeking a 40% pay bump over three years and a seat on the board of directors. - - It’s going to be pretty awkward for Boeing leadership to try to nickel and dime the people who build the planes while lavishing Calhoun with a nearly $33 million payday last year (a 45% bump from 2022), and teeing up his $45 million retirement package, and batting down questions about the boss bouncing between his two homes, neither of which are located near the company’s headquarters. - - “With what’s going on these days, we are oftentimes the last line of defense, and we have to save this company from itself,” the union’s president, Jon Holden, told the FT last week.",CNN,12/04/2024,"['When it comes to building planes, Boeing CEO Dave Calhoun is all about streamlining costs.', 'An accountant by training, Calhoun has prioritized fiscal discipline over his four years at the helm, tightening the belt to free up cash flow and put the company on better financial footing.', 'But when it comes to living the CEO lifestyle, that thriftiness goes right out the window.', 'See here: Boeing reported in a regulatory filing that four top executives, including Calhoun, got an extra half-million dollars worth of personal private jet travel on the company’s dime that had previously been improperly recorded as business travel, my colleague Chris Isidore writes.', 'That oopsie was discovered in an internal review, which was prompted by aWall Street Journal investigationlast year into Boeing executives’ private jet travel, the paper reported Thursday.', 'To be clear: Boeing requires Calhoun, who is stepping down later this year, to use its private jets for business and personal travel for security reasons.', 'And that’s pretty standard.', 'If he’s flying from the company’s headquarters in Arlington, Virginia, to its production facility outside Seattle, that’s generally considered a perk of the job.', 'But when a CEO uses the company jet for a family vacation, that usually counts as taxable income.', 'The IRS is a stickler about these things, and it recently announced it would be cracking down on executives who have been illegally writing off personal trips as business expenses.', 'There is no evidence anyone from Boeing was doing that, but the crackdown signals that it’s happening with some regularity in Corporate America.', 'Over the last three years, Calhoun racked up $979,000 in personal air travel, according to the company.', 'Boeing did not have any comment beyond the information in the filing.', 'In all the chatter about Boeing’s disastrous start to 2024, we’ve barely had time to talk about the crisis looming on the horizon: a potential strike by its largest labor union.', 'A 10-year contract covering 30,000 Seattle-area machinists expires September 12.', 'Negotiations started last month — delayed to give the company some slack while dealing with multiple federal probes into the January 5 door-plug blowout.', 'The machinists are seeking a 40% pay bump over three years and a seat on the board of directors.', 'It’s going to be pretty awkward for Boeing leadership to try to nickel and dime the people who build the planes while lavishing Calhoun with a nearly $33 million payday last year (a 45% bump from 2022), and teeing up his $45 million retirement package, and batting down questions about the boss bouncing between his two homes, neither of which are located near the company’s headquarters.', '“With what’s going on these days, we are oftentimes the last line of defense, and we have to save this company from itself,” the union’s president, Jon Holden, told the FT last week.']",0.0968362064559092,"An accountant by training, Calhoun has prioritized fiscal discipline over his four years at the helm, tightening the belt to free up cash flow and put the company on better financial footing.","In all the chatter about Boeing’s disastrous start to 2024, we’ve barely had time to talk about the crisis looming on the horizon: a potential strike by its largest labor union.",0.4405896365642547,"An accountant by training, Calhoun has prioritized fiscal discipline over his four years at the helm, tightening the belt to free up cash flow and put the company on better financial footing.",Negotiations started last month — delayed to give the company some slack while dealing with multiple federal probes into the January 5 door-plug blowout.,2024-04-12 -The NCAA women’s basketball final outrated the men’s for the first time ever,https://edition.cnn.com/2024/04/09/media/ncaa-womens-tournament-outrated-mens-for-first-time/index.html," - Updated - 7:14 PM EDT, Tue April 9, 2024 - ","For the first time in its 42-year history, more people watched the women’s NCAA basketball final than the men’s. - - The total number of viewers for Sunday’s women’s national championship game between South Carolina and Iowa was 18.9 million, peaking at 24.1 million in the game’s final 15 minutes, according to Nielsen. It was the most-watched women’s college basketball game ever and doubled the previous year’s 9.9 million viewers. - - On Monday, the University of Connecticut’s victory over Purdue in the men’s final drew 14.8 million viewers, Nielsen said. That was up a smidge from the 14.7 million who watched last year’s men’s championship game, but fell 4 million viewers short of the women’s final. - - The biggest reason why the women outrated the men this year: Iowa sensation Caitlin Clark, who scored 30 points in the Hawkeyes’ 87-75 defeat by the undefeated Gamecocks. - - Clark captivated fans all year, setting records on the court and driving the women’s game to viewership records throughout the regular season and the March Madness tournament. Clark finished the 2023-2024 season as the highest scoring collegiate basketball player in history, outpacing Louisiana State sensation (and future NBA legend and Hall of Famer) Pete Maravich, who had set the previous record in 1970. - - Clark had been playing with a chip on her shoulder all season after her Hawkeyes lost in the finals the previous year to LSU — a team she and Iowa vanquished earlier in the tournament. She is widely expected to be the top pick in the WNBA draft next week. - - To put the women’s championship game viewership in perspective, it outrated every 2023 World Series game and every NBA finals game from last year, according to Nielsen. - - The success of this year’s tournament led to many hot takes in sports media about women’s sports finally reaching equal status with men’s. But Clark’s exit from the college game and likely rookie season on the dreadful Indiana Fever — which has the first pick in the WNBA draft — will put those theories to the test later this year. - - The WNBA remains financially miniscule, bringing in a reported $200 million in revenue — compared to the NBA’s more than $10 billion. ESPN’s SportsCenter provided 91 seconds of coverage for the average WNBA game, compared to 266 seconds for the average NBA game, according to Nielsen. The WNBA Finals last year averaged just 728,000 viewers a game. - - Still, the league is growing, and a celebrity with nationwide name recognition and star power could work to change the WNBA’s fortunes. So far, even before Clark has been drafted, the buzz is boosting ticket sales. - - Ticket reseller TickPick said WNBA ticket sales for next season are up 222% from this point last year, and Fever tickets have already outpaced last year’s total by 86%. And Fever home games are setting back fans $81 a ticket — up from just $45 for last season. - - Away games won’t get you any help — an opportunity to watch Caitlin Clark play in a rival city costs $108 on average, TickPick said, up 151% from last year’s $43 average ticket price to watch the Fever play an away game. - - Oh, yeah, and in the men’s college basketball final Monday, the Huskies won their second-straight championship, beating the Boilermakers, who were in their first final since 1969. Whatever.",CNN,09/04/2024,"['For the first time in its 42-year history, more people watched the women’s NCAA basketball final than the men’s.', 'The total number of viewers for Sunday’s women’s national championship game between South Carolina and Iowa was 18.9 million, peaking at 24.1 million in the game’s final 15 minutes, according to Nielsen.', 'It was the most-watched women’s college basketball game ever and doubled the previous year’s 9.9 million viewers.', 'On Monday, the University of Connecticut’s victory over Purdue in the men’s final drew 14.8 million viewers, Nielsen said.', 'That was up a smidge from the 14.7 million who watched last year’s men’s championship game, but fell 4 million viewers short of the women’s final.', 'The biggest reason why the women outrated the men this year: Iowa sensation Caitlin Clark, who scored 30 points in the Hawkeyes’ 87-75 defeat by the undefeated Gamecocks.', 'Clark captivated fans all year, setting records on the court and driving the women’s game to viewership records throughout the regular season and the March Madness tournament.', 'Clark finished the 2023-2024 season as the highest scoring collegiate basketball player in history, outpacing Louisiana State sensation (and future NBA legend and Hall of Famer) Pete Maravich, who had set the previous record in 1970.', 'Clark had been playing with a chip on her shoulder all season after her Hawkeyes lost in the finals the previous year to LSU — a team she and Iowa vanquished earlier in the tournament.', 'She is widely expected to be the top pick in the WNBA draft next week.', 'To put the women’s championship game viewership in perspective, it outrated every 2023 World Series game and every NBA finals game from last year, according to Nielsen.', 'The success of this year’s tournament led to many hot takes in sports media about women’s sports finally reaching equal status with men’s.', 'But Clark’s exit from the college game and likely rookie season on the dreadful Indiana Fever — which has the first pick in the WNBA draft — will put those theories to the test later this year.', 'The WNBA remains financially miniscule, bringing in areported$200 million in revenue — compared to the NBA’s more than $10 billion.', 'ESPN’s SportsCenter provided 91 seconds of coverage for the average WNBA game, compared to 266 seconds for the average NBA game, according to Nielsen.', 'The WNBA Finals last year averaged just 728,000 viewers a game.', 'Still, the league is growing, and a celebrity with nationwide name recognition and star power could work to change the WNBA’s fortunes.', 'So far, even before Clark has been drafted, the buzz is boosting ticket sales.', 'Ticket reseller TickPick said WNBA ticket sales for next season are up 222% from this point last year, and Fever tickets have already outpaced last year’s total by 86%.', 'And Fever home games are setting back fans $81 a ticket — up from just $45 for last season.', 'Away games won’t get you any help — an opportunity to watch Caitlin Clark play in a rival city costs $108 on average, TickPick said, up 151% from last year’s $43 average ticket price to watch the Fever play an away game.', 'Oh, yeah, and in the men’s college basketball final Monday, the Huskies won their second-straight championship, beating the Boilermakers, who were in their first final since 1969.', 'Whatever.']",0.1104765147784542,"Away games won’t get you any help — an opportunity to watch Caitlin Clark play in a rival city costs $108 on average, TickPick said, up 151% from last year’s $43 average ticket price to watch the Fever play an away game.",But Clark’s exit from the college game and likely rookie season on the dreadful Indiana Fever — which has the first pick in the WNBA draft — will put those theories to the test later this year.,0.8351023842891058,"Ticket reseller TickPick said WNBA ticket sales for next season are up 222% from this point last year, and Fever tickets have already outpaced last year’s total by 86%.","The WNBA remains financially miniscule, bringing in areported$200 million in revenue — compared to the NBA’s more than $10 billion.",2024-04-12 -Some Trump stock investors have already lost half their money,https://edition.cnn.com/2024/04/12/business/trump-media-stock-truth-social/index.html," - Updated - 12:57 PM EDT, Fri April 12, 2024 - ","Shares of Trump Media & Technology Group are in free fall. - - The Truth Social owner’s share price dropped another 5% as of mid-day Friday, leaving it on track for a seventh losing day out of the past eight. - - The only gain during that span was a tiny one of 0.8% on Tuesday. - - Trump Media is now trading below $31. That’s a far cry from the intraday spike to nearly $80 on March 26, the day it went public on the Nasdaq under the ticker symbol “DJT.” - - In fact, anyone who bought Trump Media at the closing high of $66.22 on March 27 has now lost more than half of their money. - - The steep selloff has put a dent in former President Donald Trump’s net worth. - - Trump owns a dominant stake of 78.8 million shares in the company, which generates little revenue and is losing users. - - At the closing high for Trump Media’s stock price, the former president’s stake was valued at $5.2 billion. The value of those shares has since plummeted to about $2.4 billion. - - “Truth Social created a free-speech beachhead against Big Tech for a fraction of the start-up and operating costs that the legacy tech corporations incurred. We have no debt, more than $200 million in the bank, and the support of hundreds of thousands of retail investors who fervently believe in our mission,” Trump Media spokesperson Shannon Devine said in a statement to CNN. - - The steep losses underscore why some experts warned retail investors to tread very lightly with this stock. - - Trump Media disclosed losing $58 million in 2023 on very light revenue of just $4.1 million. - - And yet the company is still being valued in the billions of dollars, leaving experts scratching their heads. - - One common way to value stocks is to measure their price-to-sales ratio. Even if Trump Media’s share price crashed to just over $1, it would still have a much steeper price-to-sales ratio than Meta, Pinterest, Snap, Reddit or even Rumble, according to Renaissance Capital’s Matthew Kennedy. - - Billionaire Barry Diller, the chairman of Expedia and People Magazine owner IAC, even told CNBC that Trump Media is a “scam” and people buying it are “dopes.” - - Shannon Devine, a Trump Media spokesperson, recently denounced the criticism, saying it’s “unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression.” - - Even though Trump Media stock is tumbling lately, it does remain up more than 74% on the year when accounting for gains from the blank-check company it merged with.",CNN,12/04/2024,"['Shares of Trump Media & Technology Group are in free fall.', 'The Truth Social owner’s share price dropped another 5% as of mid-day Friday, leaving it on track for a seventh losing day out of the past eight.', 'The only gain during that span was a tiny one of 0.8% on Tuesday.', 'Trump Media is now trading below $31.', 'That’s a far cry from the intraday spike to nearly $80 on March 26, the day it went public on the Nasdaq under the ticker symbol “DJT.”', 'In fact, anyone who bought Trump Media at the closing high of $66.22 on March 27 has now lost more than half of their money.', 'The steep selloff has put a dent in former President Donald Trump’s net worth.', 'Trump owns a dominant stake of 78.8 million shares in the company, which generates little revenue and is losing users.', 'At the closing high for Trump Media’s stock price, the former president’s stake was valued at $5.2 billion.', 'The value of those shares has since plummeted to about $2.4 billion.', '“Truth Social created a free-speech beachhead against Big Tech for a fraction of the start-up and operating costs that the legacy tech corporations incurred.', 'We have no debt, more than $200 million in the bank, and the support of hundreds of thousands of retail investors who fervently believe in our mission,” Trump Media spokesperson Shannon Devine said in a statement to CNN.', 'The steep losses underscore why some experts warned retail investors to tread very lightly with this stock.', 'Trump Media disclosed losing $58 millionin 2023 on very light revenue of just $4.1 million.', 'And yet the company is still being valued in the billions of dollars, leaving experts scratching their heads.', 'One common way to value stocks is to measure their price-to-sales ratio.', 'Even if Trump Media’s share price crashed to just over $1, it would still have a much steeper price-to-sales ratio than Meta, Pinterest, Snap, Reddit or even Rumble, according to Renaissance Capital’s Matthew Kennedy.', 'Billionaire Barry Diller, the chairman of Expedia and People Magazine owner IAC, even told CNBC that Trump Media is a “scam” and people buying it are “dopes.”', 'Shannon Devine, a Trump Media spokesperson, recently denounced the criticism, saying it’s “unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression.”', 'Even though Trump Media stock is tumbling lately, it does remain up more than 74% on the year when accounting for gains from the blank-check company it merged with.']",0.0648788884637513,“Truth Social created a free-speech beachhead against Big Tech for a fraction of the start-up and operating costs that the legacy tech corporations incurred.,"Shannon Devine, a Trump Media spokesperson, recently denounced the criticism, saying it’s “unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression.”",-0.579140556710107,"Even though Trump Media stock is tumbling lately, it does remain up more than 74% on the year when accounting for gains from the blank-check company it merged with.","The Truth Social owner’s share price dropped another 5% as of mid-day Friday, leaving it on track for a seventh losing day out of the past eight.",2024-04-12 -US inflation jumps as fuel and housing costs rise,https://www.bbc.co.uk/news/business-68781482,2024-04-10T13:35:16.000Z,"Consumer prices in the US rose faster than expected last month, in a sign that the fight to slow inflation has stalled. Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said. Higher costs for fuel, housing, dining out and clothing drove the increase. Analysts warned that the lack of progress in curbing price rises will force the US central bank to keep interest rates higher for longer. Higher rates help stabilise prices by making it more expensive to borrow for business expansions and other spending. In theory, that in turn slows the economy, and eases the pressures pushing up prices. The Federal Reserve's key interest rate is now at the highest level in more than two decades, in the range of 5.25%-5.5%. Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022. But recent economic data, including strong jobs creation figures last week, has raised doubts about how soon those cuts might come. Shares on Wall Street closed lower on Wednesday as investors had been betting that rates could soon be cut. Analysts, who once expected rate cuts as soon as March, have been rapidly revising bets, with many now not expecting any until later this summer and some predicting the bank could wait until next year. What the Fed decides to do is likely to shape decisions by central banks around the world, said Neil Birrell, chief investment officer at Premier Miton Diversified Funds. ""The Fed has got some head scratching to do and if other central banks were waiting for the Fed to move, they have got a conundrum on their hands now,"" he said. Inflation cooled rapidly over 2023 as pandemic-era supply issues healed and the spike in food and energy prices sparked by the war in Ukraine faded, but it still remains higher than the bank's 2% target. An uptick in oil prices in recent months has also pushed energy costs higher, while prices for services show little sign of stabilising. The Labor Department said prices had jumped 0.4% from March to February, the same as in February. Higher petrol and housing costs accounted for more than half the increase. Car insurance, medical care and costs for internet also contributed. So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""We shouldn't overreact to the jump in headline inflation - which was all about energy,"" said Brian Coulton, chief economist at Fitch Ratings. But he added: ""The details are not at all reassuring for the Fed."" ",BBC,10/04/2024,"['Consumer prices in the US rose faster than expected last month, in a sign that the fight to slow inflation has stalled.', 'Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.', 'Higher costs for fuel, housing, dining out and clothing drove the increase.', 'Analysts warned that the lack of progress in curbing price rises will force the US central bank to keep interest rates higher for longer.', 'Higher rates help stabilise prices by making it more expensive to borrow for business expansions and other spending.', 'In theory, that in turn slows the economy, and eases the pressures pushing up prices.', ""The Federal Reserve's key interest rate is now at the highest level in more than two decades, in the range of 5.25%-5.5%."", 'Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022.', 'But recent economic data, including strong jobs creation figures last week, has raised doubts about how soon those cuts might come.', 'Shares on Wall Street closed lower on Wednesday as investors had been betting that rates could soon be cut.', 'Analysts, who once expected rate cuts as soon as March, have been rapidly revising bets, with many now not expecting any until later this summer and some predicting the bank could wait until next year.', 'What the Fed decides to do is likely to shape decisions by central banks around the world, said Neil Birrell, chief investment officer at Premier Miton Diversified Funds. ""', 'The Fed has got some head scratching to do and if other central banks were waiting for the Fed to move, they have got a conundrum on their hands now,"" he said.', ""Inflation cooled rapidly over 2023 as pandemic-era supply issues healed and the spike in food and energy prices sparked by the war in Ukraine faded, but it still remains higher than the bank's 2% target."", 'An uptick in oil prices in recent months has also pushed energy costs higher, while prices for services show little sign of stabilising.', 'The Labor Department said prices had jumped 0.4% from March to February, the same as in February.', 'Higher petrol and housing costs accounted for more than half the increase.', 'Car insurance, medical care and costs for internet also contributed.', 'So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""', 'We shouldn\'t overreact to the jump in headline inflation - which was all about energy,"" said Brian Coulton, chief economist at Fitch Ratings.', 'But he added: ""The details are not at all reassuring for the Fed.""']",0.0619528373528281,"So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""","Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022.",0.4771321556147407,"Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.",Analysts warned that the lack of progress in curbing price rises will force the US central bank to keep interest rates higher for longer.,2024-04-12 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-04-12 -How AI is helping to prevent future power cuts,https://www.bbc.co.uk/news/business-68768314,2024-04-10T23:13:58.000Z,"Amid ever increasing demand for electricity, artificial intelligence (AI) is now being used to help prevent power cuts. ""I woke up in the middle of the night very, very cold,"" remembers Aseef Raihan. ""I pulled out my military sleeping bag, and slept in that overnight for warmth. ""In the morning I figured out that the power was definitely not on."" Mr Raihan is describing the scene back in February 2021 when he was stationed in San Antonio, Texas, while serving in the US Air Force. That month the state was blasted by winter storm Uri. As temperatures plummeted to -19C, Texans sought to keep warm, sending the demand for electricity sky high. At the same time, Texas' electricity grid started to unravel. Wind turbines froze over, snow covered solar panels, and a nuclear reactor had to be taken offline as a precaution. With not enough electricity to go around, the power went off for more than 4.5 million homes and businesses, first for hours, and then for days on end. ""Without power, the heating wasn't working at all. And you couldn't use the electric stove or microwave for food,"" recalls Mr Raihan. In the end it took more than two weeks for the Texan power grid to return to normal. The storm revealed the fragility of the systems we take for granted to deliver us electricity around the clock. And while not all countries have winters as severe as they can be in North America, demand for electricity is ever increasing around the world. From charging electric cars, to more homes getting air conditioning installed, we are using more and more power in our daily lives. This comes at the same time as countries are increasingly moving towards renewable sources of energy, which are more variable in the amount of energy they generate. If the wind doesn't blow, and the sun doesn't shine, then electricity production drops. All this led to UK Energy Secretary Claire Coutinho warning last month that the country could face blackouts in the future without new gas powered power stations as ""back up"". Another way to make energy systems more resilient is by adding huge batteries to the grid. The thinking goes that when there is electricity going spare, batteries can charge up, and then release electricity later when there is more demand for power. This is an approach that has been taken in Texas. ""Since the storm we built over five gigawatts of battery storage capacity in Texas in three years, which is really an incredible pace,"" says Dr Michael Webber, professor of energy resources at the University of Texas at Austin. That much energy, he says, is about ""four large nuclear power plants"". However, for such batteries to be really useful, they need to know the best time to charge, and the best time to discharge. That means making complex predictions about how much electricity is going to be needed in the future. ""The main thing that makes the biggest difference is weather and electricity demand,"" says Gavin McCormick, founder of the tech start-up WattTime. His Oakland, California-based company makes AI software that predicts electricity supply and demand in a given area or region. This information can then tell batteries when to charge and discharge. The same information can also be used in homes to help people use mains electricity more cheaply. ""So if you had an electric vehicle that you need to be ready in eight hours, but it only takes two or three hours to charge, what it can do is it can find the five minute periods all night where there's surplus energy, or maybe there's clean energy,"" Mr McCormick says. ""It will charge in little spurts at all the best times and still be ready by morning."" The AI can make these predictions by analysing weather patterns, holiday dates, work schedules, and even when the football is on. ""Everybody gets up and makes a cup of tea at halftime,"" Mr McCormick says. Another company using AI to predict electricity demand is Danish firm Electricity Maps. It focuses its AI on forecasting weather patterns like cloud cover, wind strength, temperature and rainfall. This information is used to better understand how much electricity will be generated from wind turbines or solar panels. ""If you can predict quite accurately in advance how much wind you're going to have in the system, you can plan ahead."" says Olivier Corradi, the company's founder. ""One example is Google, where we're providing them forecasts of how clean the grid is going to be in the next couple of hours. They can use that in their data centres to change the time at which they're consuming electricity "" Read more stories on artificial intelligence AI is also now being used to protect the physical infrastructure that carries electricity to our homes. One company, Buzz Solutions, uses AI to scan through imagery of electricity cables, pylons and substations, identifying signs of damage such as broken parts or rust. The system also identifies when trees and other greenery are growing too close to power lines. Not only can this prevent power outages from damaged lines, but it can also reduce the risk of wildfires, which can be caused from power lines coming into contact with trees as happened in California in recent years. The tech can also spot and automatically report to power firm staff another major cause of power outages - wildlife. ""A lot of times surprisingly, animals get into substations like squirrels and rodents, and they get electrocuted,"" says Buzz Solutions co-founder Vikhyat Chaudhry. ""Their electrocution sometimes leads to a massive explosion at the substation. Our AI that's deployed at substations, one of the things that they're detecting is animal intrusions including raccoons and squirrels."" ",BBC,10/04/2024,"['Amid ever increasing demand for electricity, artificial intelligence (AI) is now being used to help prevent power cuts. ""', 'I woke up in the middle of the night very, very cold,"" remembers Aseef Raihan. ""', 'I pulled out my military sleeping bag, and slept in that overnight for warmth. ""', 'In the morning I figured out that the power was definitely not on.""', 'Mr Raihan is describing the scene back in February 2021 when he was stationed in San Antonio, Texas, while serving in the US Air Force.', 'That month the state was blasted by winter storm Uri.', 'As temperatures plummeted to -19C, Texans sought to keep warm, sending the demand for electricity sky high.', ""At the same time, Texas' electricity grid started to unravel."", 'Wind turbines froze over, snow covered solar panels, and a nuclear reactor had to be taken offline as a precaution.', 'With not enough electricity to go around, the power went off for more than 4.5 million homes and businesses, first for hours, and then for days on end. ""', ""Without power, the heating wasn't working at all."", 'And you couldn\'t use the electric stove or microwave for food,"" recalls Mr Raihan.', 'In the end it took more than two weeks for the Texan power grid to return to normal.', 'The storm revealed the fragility of the systems we take for granted to deliver us electricity around the clock.', 'And while not all countries have winters as severe as they can be in North America, demand for electricity is ever increasing around the world.', 'From charging electric cars, to more homes getting air conditioning installed, we are using more and more power in our daily lives.', 'This comes at the same time as countries are increasingly moving towards renewable sources of energy, which are more variable in the amount of energy they generate.', ""If the wind doesn't blow, and the sun doesn't shine, then electricity production drops."", 'All this led to UK Energy Secretary Claire Coutinho warning last month that the country could face blackouts in the future without new gas powered power stations as ""back up"".', 'Another way to make energy systems more resilient is by adding huge batteries to the grid.', 'The thinking goes that when there is electricity going spare, batteries can charge up, and then release electricity later when there is more demand for power.', 'This is an approach that has been taken in Texas. ""', 'Since the storm we built over five gigawatts of battery storage capacity in Texas in three years, which is really an incredible pace,"" says Dr Michael Webber, professor of energy resources at the University of Texas at Austin.', 'That much energy, he says, is about ""four large nuclear power plants"".', 'However, for such batteries to be really useful, they need to know the best time to charge, and the best time to discharge.', 'That means making complex predictions about how much electricity is going to be needed in the future. ""', 'The main thing that makes the biggest difference is weather and electricity demand,"" says Gavin McCormick, founder of the tech start-up WattTime.', 'His Oakland, California-based company makes AI software that predicts electricity supply and demand in a given area or region.', 'This information can then tell batteries when to charge and discharge.', 'The same information can also be used in homes to help people use mains electricity more cheaply. ""', 'So if you had an electric vehicle that you need to be ready in eight hours, but it only takes two or three hours to charge, what it can do is it can find the five minute periods all night where there\'s surplus energy, or maybe there\'s clean energy,"" Mr McCormick says. ""', 'It will charge in little spurts at all the best times and still be ready by morning.""', 'The AI can make these predictions by analysing weather patterns, holiday dates, work schedules, and even when the football is on. ""', 'Everybody gets up and makes a cup of tea at halftime,"" Mr McCormick says.', 'Another company using AI to predict electricity demand is Danish firm Electricity Maps.', 'It focuses its AI on forecasting weather patterns like cloud cover, wind strength, temperature and rainfall.', 'This information is used to better understand how much electricity will be generated from wind turbines or solar panels. ""', 'If you can predict quite accurately in advance how much wind you\'re going to have in the system, you can plan ahead.""', 'says Olivier Corradi, the company\'s founder. ""', ""One example is Google, where we're providing them forecasts of how clean the grid is going to be in the next couple of hours."", 'They can use that in their data centres to change the time at which they\'re consuming electricity "" Read more stories on artificial intelligence AI is also now being used to protect the physical infrastructure that carries electricity to our homes.', 'One company, Buzz Solutions, uses AI to scan through imagery of electricity cables, pylons and substations, identifying signs of damage such as broken parts or rust.', 'The system also identifies when trees and other greenery are growing too close to power lines.', 'Not only can this prevent power outages from damaged lines, but it can also reduce the risk of wildfires, which can be caused from power lines coming into contact with trees as happened in California in recent years.', 'The tech can also spot and automatically report to power firm staff another major cause of power outages - wildlife. ""', 'A lot of times surprisingly, animals get into substations like squirrels and rodents, and they get electrocuted,"" says Buzz Solutions co-founder Vikhyat Chaudhry. ""', 'Their electrocution sometimes leads to a massive explosion at the substation.', 'Our AI that\'s deployed at substations, one of the things that they\'re detecting is animal intrusions including raccoons and squirrels.""']",0.1497572378689781,"However, for such batteries to be really useful, they need to know the best time to charge, and the best time to discharge.","One company, Buzz Solutions, uses AI to scan through imagery of electricity cables, pylons and substations, identifying signs of damage such as broken parts or rust.",0.1250539049506187,"Since the storm we built over five gigawatts of battery storage capacity in Texas in three years, which is really an incredible pace,"" says Dr Michael Webber, professor of energy resources at the University of Texas at Austin.","If the wind doesn't blow, and the sun doesn't shine, then electricity production drops.",2024-04-12 -"Jamie Dimon says AI may be as impactful on humanity as printing press, electricity and computers",https://www.cnbc.com/2024/04/08/jamie-dimon-says-ai-may-be-as-impactful-on-humanity-as-printing-press-electricity-and-computers.html,2024-04-08T14:46:42+0000,"In this articleJamie Dimon, the veteran CEO and chairman of JPMorgan Chase, said he was convinced that artificial intelligence will have a profound impact on society.In his annual letter to shareholders released Monday, Dimon chose AI as the first topic in his update of issues facing the biggest U.S. bank by assets — ahead of geopolitical risks, recent acquisitions and regulatory matters.""While we do not know the full effect or the precise rate at which AI will change our business — or how it will affect society at large — we are completely convinced the consequences will be extraordinary,"" Dimon said.The impact will be ""possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet.""Dimon's letter, read widely in the business world because of his status as one of the most successful leaders in finance, hit a wide variety of topics. The CEO said that he had ongoing concerns about inflationary pressures and reiterated his warning that the world may be entering the riskiest era in geopolitics since World War II.But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out. The technology, which has gained in prominence since OpenAI's ChatGPT became a viral sensation in late 2022, can generate human-sounding responses to queries. Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.  JPMorgan now has more than 2,000 AI and machine learning employees and data scientists working on 400 applications including fraud detection, marketing and risk controls, Dimon said. The bank is also exploring the use of generative AI in software engineering, customer service and ways to boost employee productivity, he said.The technology could ultimately touch all of the bank's roughly 310,000 employees, assisting some workers while replacing others, and forcing the company to retrain workers for new roles.""Over time, we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition,"" Dimon said. ""It may reduce certain job categories or roles, but it may create others as well.""Here are excerpts from Dimon's letter:""Many key economic indicators today continue to be good and possibly improving, including inflation. But when looking ahead to tomorrow, conditions that will affect the future should be considered... All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure.""""Equity values, by most measures, are at the high end of the valuation range, and credit spreads are extremely tight. These markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates. I believe the odds are a lot lower than that.""""If long-end rates go up over 6% and this increase is accompanied by a recession, there will be plenty of stress — not just in the banking system but with leveraged companies and others. Remember, a simple 2 percentage point increase in rates essentially reduced the value of most financial assets by 20%, and certain real estate assets, specifically office real estate, may be worth even less due to the effects of recession and higher vacancies. Also remember that credit spreads tend to widen, sometimes dramatically, in a recession.""""There is little real collaboration between practitioners — the banks — and regulators, who generally have not been practitioners in business…. Unfortunately, without collaboration and sufficient analysis, it is hard to be confident that regulation will accomplish desired outcomes without undesirable consequences. Instead of constantly improving the system, we may be making it worse.""""Russia's invasion of Ukraine and the subsequent abhorrent attack on Israel and ongoing violence in the Middle East should have punctured many assumptions about the direction of future safety and security, bringing us to this pivotal time in history. America and the free Western world can no longer maintain a false sense of security based on the illusion that dictatorships and oppressive nations won't use their economic and military powers to advance their aims — particularly against what they perceive as weak, incompetent and disorganized Western democracies. In a troubled world, we are reminded that national security is and always will be paramount, even if its importance seems to recede in tranquil times.""""One common sense and modest step would be for social media companies to further empower platform users' control over what they see and how it is presented, leveraging existing tools and features — like the alternative feed algorithm settings some offer today. I believe many users (not just parents) would appreciate a greater ability to more carefully curate their feeds; for example, prioritizing educational content for their children.""""The acquisition of a major company entails a lot of complexity. People tend to focus on the financial and economic outcomes, which is a reasonable thing to do. And in the case of First Republic, the numbers look rather good. We recorded an accounting gain of $3 billion on the purchase, and we told the world we expected to add more than $500 million to earnings annually, which we now believe will be closer to $2 billion.""JPMorgan acquired most of the assets of First Republic last year for more than $10 billion after regulators seized the firm amid the regional banking crisis.",CNBC,08/04/2024,"['In this articleJamie Dimon, the veteran CEO and chairman of JPMorgan Chase, said he was convinced that artificial intelligence will have a profound impact on society.', 'In his annual letter to shareholders released Monday, Dimon chose AI as the first topic in his update of issues facing the biggest U.S. bank by assets — ahead of geopolitical risks, recent acquisitions and regulatory matters.', '""While we do not know the full effect or the precise rate at which AI will change our business — or how it will affect society at large — we are completely convinced the consequences will be extraordinary,"" Dimon said.', 'The impact will be ""possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet.', '""Dimon\'s letter, read widely in the business world because of his status as one of the most successful leaders in finance, hit a wide variety of topics.', ""The CEO said that he had ongoing concerns about inflationary pressures and reiterated his warning that the world may be entering the riskiest era in geopolitics since World War II.But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out."", ""The technology, which has gained in prominence since OpenAI's ChatGPT became a viral sensation in late 2022, can generate human-sounding responses to queries."", 'Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.', 'JPMorgan now has more than 2,000 AI and machine learning employees and data scientists working on 400 applications including fraud detection, marketing and risk controls, Dimon said.', 'The bank is also exploring the use of generative AI in software engineering, customer service and ways to boost employee productivity, he said.', ""The technology could ultimately touch all of the bank's roughly 310,000 employees, assisting some workers while replacing others, and forcing the company to retrain workers for new roles."", '""Over time, we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition,"" Dimon said. ""', 'It may reduce certain job categories or roles, but it may create others as well.', '""Here are excerpts from Dimon\'s letter:""Many key economic indicatorstodaycontinue to be good and possibly improving, including inflation.', 'But when looking ahead totomorrow, conditions that will affect the future should be considered... All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure.', '""""Equity values, by most measures, are at the high end of the valuation range, and credit spreads are extremely tight.', 'These markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates.', 'I believe the odds are a lot lower than that.', '""""If long-end rates go up over 6% and this increase is accompanied by a recession, there will be plenty of stress — not just in the banking system but with leveraged companies and others.', 'Remember, a simple 2 percentage point increase in rates essentially reduced the value of most financial assets by 20%, and certain real estate assets, specifically office real estate, may be worth even less due to the effects of recession and higher vacancies.', 'Also remember that credit spreads tend to widen, sometimes dramatically, in a recession.', '""""There is little real collaboration between practitioners — the banks — and regulators, who generally have not been practitioners in business….', 'Unfortunately, without collaboration and sufficient analysis, it is hard to be confident that regulation will accomplish desired outcomes without undesirable consequences.', 'Instead of constantly improving the system, we may be making it worse.', '""""Russia\'s invasion of Ukraine and the subsequent abhorrent attack on Israel and ongoing violence in the Middle East should have punctured many assumptions about the direction of future safety and security, bringing us to this pivotal time in history.', ""America and the free Western world can no longer maintain a false sense of security based on the illusion that dictatorships and oppressive nations won't use their economic and military powers to advance their aims — particularly against what they perceive as weak, incompetent and disorganized Western democracies."", 'In a troubled world, we are reminded that national security is and always will be paramount, even if its importance seems to recede in tranquil times.', '""""One common sense and modest step would be for social media companies to further empower platform users\' control over what they see and how it is presented, leveraging existing tools and features — like the alternative feed algorithm settings some offer today.', 'I believe many users (not just parents) would appreciate a greater ability to more carefully curate their feeds; for example, prioritizing educational content for their children.', '""""The acquisition of a major company entails a lot of complexity.', 'People tend to focus on the financial and economic outcomes, which is a reasonable thing to do.', 'And in the case of First Republic, the numbers look rather good.', 'We recorded an accountinggain of $3 billion on the purchase, and we told the world we expected to add more than $500 million to earnings annually, which we now believe will be closer to $2 billion.', '""JPMorgan acquired most of the assets of First Republic last year for more than $10 billion after regulators seized the firm amid the regional banking crisis.']",0.1597391741300232,"I believe many users (not just parents) would appreciate a greater ability to more carefully curate their feeds; for example, prioritizing educational content for their children.","The CEO said that he had ongoing concerns about inflationary pressures and reiterated his warning that the world may be entering the riskiest era in geopolitics since World War II.But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out.",-0.0500199510937645,Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.,"Remember, a simple 2 percentage point increase in rates essentially reduced the value of most financial assets by 20%, and certain real estate assets, specifically office real estate, may be worth even less due to the effects of recession and higher vacancies.",2024-04-11 -Barstool's Dave Portnoy won $2.7 million betting on UConn in NCAA men's final,https://www.cnbc.com/2024/04/09/barstools-dave-portnoy-won-2point7-million-on-uconn-ncaa-bet.html,2024-04-09T16:13:07+0000,"In this articleBarstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue on Monday night in the NCAA men's championship game.Portnoy tweeted the massive score off a March 20 $600,000 wager on the Huskies winning the national championship. Portnoy's bet was a moneyline wager placed right before the NCAA tournament began, and required UConn to win six straight games for it to pay off for him. The bet paid off at 3.6-to-1.DraftKings confirmed to CNBC it took the bet.""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.""Barstool signed a multiyear deal with DraftKings in February. The sports media company was previously owned by Penn Entertainment.DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C. — five additional states since this time last year.The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year. That's equivalent to 2.2% of the total handle wagered on any sporting events last year.Geolocation tracking company GeoComply, which operators use to police bettors' locations, told CNBC it saw a 42% increase in checks over the 2023 tournament.DraftKings said Monday's game was the most bet-on college basketball game of all time for the sportsbook.FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle.At Caesars Sportsbook, Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game.""It was a tournament for the customers as favorites covered the spread 61% of the time,"" Craig Mucklow, Caesars Sportsbook's vice president of trading, said in an email.Betting on the women's tournament was particularly lucrative for the sportsbooks.South Carolina's undefeated season and the heroics of superstar Caitlin Clark fueled a massive influx of bets. FanDuel, BetMGM and Fanatics say the championship game was their single biggest betting event on women's sports. Caesars said the women's championship saw double the previous handle record for a women's college basketball game.""We could only imagine the handle if the game was given a proper primetime slot,"" Mucklow said of the women's final.— CNBC's Dan Mangan contributed to this report.",CNBC,09/04/2024,"[""In this articleBarstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue on Monday night in the NCAA men's championship game."", 'Portnoy tweeted the massive score off a March 20 $600,000 wager on the Huskies winning the national championship.', ""Portnoy's bet was a moneyline wager placed right before the NCAA tournament began, and required UConn to win six straight games for it to pay off for him."", 'The bet paid off at 3.6-to-1.DraftKings confirmed to CNBC it took the bet.', '""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.', '""Barstool signed a multiyear deal with DraftKings in February.', 'The sports media company was previously owned by Penn Entertainment.', 'DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C. — five additional states since this time last year.', 'The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year.', ""That's equivalent to 2.2% of the total handle wagered on any sporting events last year."", ""Geolocation tracking company GeoComply, which operators use to police bettors' locations, told CNBC it saw a 42% increase in checks over the 2023 tournament."", ""DraftKings said Monday's game was the most bet-on college basketball game of all time for the sportsbook."", ""FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle."", ""At Caesars Sportsbook, Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game."", '""It was a tournament for the customers as favorites covered the spread 61% of the time,"" Craig Mucklow, Caesars Sportsbook\'s vice president of trading, said in an email.', ""Betting on the women's tournament was particularly lucrative for the sportsbooks."", ""South Carolina's undefeated season and the heroics of superstar Caitlin Clark fueled a massive influx of bets."", ""FanDuel, BetMGM and Fanatics say the championship gamewas their single biggest betting event on women's sports."", ""Caesars said the women's championship saw double the previous handle record for a women's college basketball game."", '""We could only imagine the handle if the game was given a proper primetime slot,"" Mucklow said of the women\'s final.—', ""CNBC's Dan Mangan contributed to this report.""]",0.3113093424054897,"""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.",The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year.,0.9950777232646942,FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle.,,2024-04-11 -3G Capital quietly exited its Kraft Heinz investment last year,https://www.cnbc.com/2024/04/09/3g-capital-quietly-exited-its-kraft-heinz-investment-last-year.html,2024-04-09T13:05:13+0000,"In this articleBrazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.The sale marks the end of an era for 3G. The firm's influence over Kraft Heinz had been dwindling in recent years as its number of board seats slipped from three to none by July 2022.""3G has not been involved in the management of Kraft Heinz, nor have they been on the Board for several years. They had continued to be an investor and were treated as we do any investor,"" Kraft Heinz said in a statement to CNBC. ""We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023.""The company added that Buffett's Berkshire Hathaway, its largest shareholder with a 26.8% stake, is a committed long-term owner.3G did not immediately respond to a request for comment from CNBC.Berkshire and 3G's doomed romance began on Valentine's Day in 2013 when the two firms announced they were teaming up to take Heinz private. The merger with Kraft Foods followed two years later.The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.But the packaged food business presented new challenges. Consumers were shifting to eating more fresh food. Plus, retailers' private-label brands and newcomers touting themselves as a healthier option were stealing Big Food's shoppers. Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer.Then a disastrous quarter came for Kraft Heinz in 2019. In a single earnings report, the company slashed its dividend, disclosed a Securities and Exchange Commission investigation into its accounting practices and wrote down its brands by $15 billion.Several months later, Buffett told CNBC that Berkshire and 3G overpaid for Kraft Heinz, buoyed by optimism that its brands were more valuable than they actually were. Still, he stood by both 3G and Kraft Heinz. Other investors blamed 3G's aggressive cost cutting for the company's troubles.To reverse the company's downward spiral, 3G handpicked the food giant's new chief executive, an AB InBev veteran, and Kraft Heinz went into turnaround mode. The company announced plans to ramp up its marketing and advertising spending and shift its strategy for making new products. To reduce its exposure to private-label competition, it also sold its cheese business to Lactalis, a French dairy giant, and its Planters nuts brand to Hormel.In 2021, 3G founding partner Jorge Paulo Lemann stepped down from Kraft Heinz's board. The following year, fellow founding partner Alexandre Behring left the board. And two months after Behring's departure, 3G's final board member, former AB InBev CEO Joao Castro-Neves, also stepped down. Kraft Heinz disclosed his departure in a regulatory filing but no press release — or fanfare — accompanied it.3G had been periodically trimming its stake in Kraft Heinz since 2018. When it sold 25 million shares in 2019, at the height of the company's troubles, the stock fell 4% in response to the disclosure. In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.Last year, Kraft Heinz tapped Carlos Abrams-Rivera as its new chief executive. While he's been with the company since 2020, he's notably the company's first CEO without ties to 3G.",CNBC,09/04/2024,"['In this articleBrazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.', 'The sale marks the end of an era for 3G. The firm\'s influence over Kraft Heinz had been dwindling in recent years as its number of board seats slipped from three to none by July 2022.""3G has not been involved in the management of Kraft Heinz, nor have they been on the Board for several years.', 'They had continued to be an investor and were treated as we do any investor,"" Kraft Heinz said in a statement to CNBC. ""', 'We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023.""The company added that Buffett\'s Berkshire Hathaway, its largest shareholder with a 26.8% stake, is a committed long-term owner.3G did not immediately respond to a request for comment from CNBC.Berkshire and 3G\'s doomed romance began on Valentine\'s Day in 2013 when the two firms announced they were teaming up to take Heinz private.', 'The merger with Kraft Foods followed two years later.', 'The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.', 'But the packaged food business presented new challenges.', 'Consumers were shifting to eating more fresh food.', ""Plus, retailers' private-label brands and newcomers touting themselves as a healthier option were stealing Big Food's shoppers."", 'Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer.', 'Then a disastrous quarter came for Kraft Heinz in 2019.', 'In a single earnings report, the company slashed its dividend, disclosed a Securities and Exchange Commission investigation into its accounting practices and wrote down its brands by $15 billion.', 'Several months later, Buffett told CNBC that Berkshire and 3G overpaid for Kraft Heinz, buoyed by optimism that its brands were more valuable than they actually were.', 'Still, he stood by both 3G and Kraft Heinz.', ""Other investors blamed 3G's aggressive cost cutting for the company's troubles."", ""To reverse the company's downward spiral, 3G handpicked the food giant's new chief executive, an AB InBev veteran, and Kraft Heinz went into turnaround mode."", 'The company announced plans to ramp up its marketing and advertising spending and shift its strategy for making new products.', 'To reduce its exposure to private-label competition, it also sold its cheese business to Lactalis, a French dairy giant, and its Planters nuts brand to Hormel.', ""In 2021, 3G founding partner Jorge Paulo Lemann stepped down from Kraft Heinz's board."", 'The following year, fellow founding partner Alexandre Behring left the board.', ""And two months after Behring's departure, 3G's final board member, former AB InBev CEO Joao Castro-Neves, also stepped down."", 'Kraft Heinz disclosed his departure in a regulatory filing but no press release — or fanfare — accompanied it.3G had been periodically trimming its stake in Kraft Heinz since 2018.', ""When it sold 25 million shares in 2019, at the height of the company's troubles, the stock fell 4% in response to the disclosure."", 'In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.', 'Last year, Kraft Heinz tapped Carlos Abrams-Rivera as its new chief executive.', ""While he's been with the company since 2020, he's notably the company's first CEO without ties to 3G.""]",-0.0180330622793108,"The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.",Other investors blamed 3G's aggressive cost cutting for the company's troubles.,0.1386075570033146,"The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.",Then a disastrous quarter came for Kraft Heinz in 2019.,2024-04-11 -"Former Bowlero exec says company threatened to report him to FBI in proposed extortion, retaliation suit",https://www.cnbc.com/2024/04/09/former-bowlero-exec-says-company-threatened-to-report-him-to-fbi.html,2024-04-09T19:02:18+0000,"In this articleA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversation filed in court.The allegations by Bowlero's former chief information officer, Thomas Tanase, filed Wednesday in a proposed countersuit in Virginia federal court, come after he and dozens of others filed discrimination claims with the U.S. Equal Employment Opportunity Commission alleging they were fired based on their age or out of retaliation, according to company securities filings and the proposed countersuit. Bowlero denies the claims.The company, which went public in late 2021 through a special purpose acquisition company, or SPAC, was among the select successful stocks to emerge from the SPAC boom. It owns two of the biggest brands in bowling — AMF and Lucky Strike — and operated more than 300 bowling centers across North America as of July. Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.Tanase started with the company's information technology department in 2001 before climbing his way up to the C-suite, where he worked closely with the company's CEO and frequently had access to sensitive information contained in the CEO's email accounts, he said in court filings. He says the company fired him in May because of his age, and in August, he filed a discrimination claim with the EEOC, according to a copy of the claim, which was included as an exhibit to the proposed countersuit.Bowlero says that Tanase resigned and then had a change of heart when he realized he wouldn't get severance pay. In July, the company sued him, alleging he hacked into the email account of CEO Thomas Shannon, copied company documents onto a personal USB drive and refused to hand over his company-issued devices. Tanase denies the claims.Now, Tanase is seeking the court's permission to countersue Bowlero and the company's executive vice chairman, Brett Parker. Federal rules require Tanase to get permission to countersue given the timing of the filings.In the proposed countersuit, Tanase alleges that Parker threatened to report him to the FBI if he didn't admit to accessing Shannon's emails and ""come clean"" about information he shared with Daniel Dowe, the attorney representing the EEOC complainants, and with CNBC, which has previously written about the discrimination allegations against Bowlero. During a March deposition, Tanase testified that he hadn't spoken with CNBC, or any other media outlet, about the company.In a phone conversation between Tanase and Parker that Tanase recorded in June 2023, Bowlero's vice chairman and former finance chief allegedly asked Tanase numerous times to reveal what he'd said and told him that if he did, all would be forgiven, according to a transcript attached as an exhibit to the proposed counterclaim.""If you come clean there is a path where you are our friend ... You tell us everything that's transpired ... You tell us everything you know about Dowe everything that's ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.""Then there can be a number and there can be a go away and we can move on. But we have to get the truth and full clarity,"" Parker said, according to the transcript. ""You can ... Fall back into our good graces and be our friend in this matter and you will get paid to do that, but it has to start with the truth.""According to the transcript, Parker told Tanase if he explained everything and shared what information he had disclosed, the company could give him a ""severance,"" but ""you really don't want this to start with the police."" ""I'm not going to be able to fight this internally, and you're going to be trying to explain to the FBI that some device did this and I don't want you to be in that position,"" Parker said, according to the transcript. ""You gotta help me help you,"" he added.In response, Tanase repeatedly told Parker he didn't share any information with anyone and had been in the hospital when Shannon's email account was allegedly breached, according to the transcript. As Bowlero's former CIO, he previously had access to the CEO's account and said it may have still been logged in on another device.  ""I haven't done anything illegal ... I haven't done anything malicious either. I haven't talked to anything or given out any information to anybody. I've told you this before,"" said Tanase, according to the transcript.  Bowlero said the transcript simply shows the company trying to extend an ""olive branch"" to Tanase if he were to confess to the hacking allegations. ""Far from wrongfully seeking to obtain a benefit from Tanase, Mr. Parker ... acknowledges that he is 'trying to help.' These are all actions which, in the face of Tanase's hacking of Bowlero computer systems, neither Bowlero nor Mr. Parker were required to do,"" Bowlero said in filings.  ""Indeed, what Tanase suggests is 'extortion' is obviously no such thing. Hence, even if Tanase had a private right of action for an extortion claim, the elements of such a claim are not met here,"" the company said.Tanase further alleges that Bowlero's suit against him was brought in retaliation for his refusal to sign a termination agreement that required him to waive his right to pursue legal action against the company. He also claims Bowlero sued him to deter him from filing a complaint with the EEOC or serving as a witness in its investigation into Bowlero.Tanase's attorneys are seeking around $8 million in damages from Bowlero on the extortion claim and more than $27 million on the retaliation claim.Late Thursday, Bowlero asked the judge overseeing the case to deny the request to countersue and to sanction Tanase by either issuing a default judgment in the company's favor or precluding Tanase from further testimony. In court filings, the company said Tanase admitted he misstated facts in an earlier court affidavit, which he later corrected, and pointed out that he has hired at least three different law firms since the onset of the case.""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions. Bowlero's attorney Alex Spiro at law firm Quinn Emanuel, who has also represented A-listers such as Elon Musk and Alec Baldwin, said in a statement to CNBC Tanase ""will lose"" his request to file a countersuit, and that it ""is almost certainly going to be denied."" ""Mr. Tanase is now seeking the court's permission to file baseless counterclaims against Bowlero, five months after the deadline and five days before fact discovery will close. This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.""His counterclaims are completely frivolous and we are seeking fees for responding to his motion,"" he said.In response, Tanase's attorney Scott Pickus told CNBC if the court doesn't permit Tanase to move forward with his counterclaim in the case, the suit can and ""likely will"" be filed as a new action. He said he ""very much"" disagrees that the assertions made in the proposed counterclaim are frivolous. He said he won't comment on remarks Tanase made about misstating facts.""Suffice it to say that we disagree with Bowlero's interpretation of the law, disagree with Bowlero's recitation of the facts, and look forward to the trial of this matter,"" Pickus said.Bowlero has been embroiled in an EEOC investigation since 2016 involving more than 70 former employees who claim they were unlawfully fired. They allege that Bowlero fired them for being too old as it worked to transform its hundreds of locations from what the company has referred to as ""dingy"" bowling alleys to upmarket experiences with elevated food and drink offerings. Complaints and an affidavit filed by three former employees, including Tanase, say Shannon hosted ""beauty contests"" with prospective hires over brief video calls to evaluate a candidate's appearance as part of the hiring process. Tanase's complaint accused Shannon of making ""racial and especially inappropriate 'blonde women' jokes"" and ""always treated wom[e]n as an inferior class to men."" Tanase also alleged that the company's policies banning Timberland boots and ball caps worn backward were ""designed to deter African American males from using"" the company's bowling centers.The EEOC has found reasonable cause in the majority of the complaints brought against Bowlero, including Tanase's, while the rest remain under investigation, according to Tanase's complaint and company reports. When the EEOC finds reasonable cause in a complaint, it means it believes discrimination occurred.The EEOC previously tried to settle the complaints with Bowlero for $60 million in January 2023, but those efforts failed last April, CNBC previously reported. The agency now has the ability to file a federal lawsuit against the company, but it's unclear if it will. Before the agency can sue Bowlero in federal court, the EEOC's commissioners need to vote on the matter. Spiro, Bowlero's attorney, told CNBC the employment discrimination claims ""are without merit.""""The so-called eeoc issues are age based discrimination claims, some of which date back to nearly a decade ago and no civil nor eeoc suit has ever even occurred with respect to those claims,"" Spiro wrote in an email. Pickus, Tanase's attorney, said the EEOC's reasonable cause findings that Bowlero engaged in discriminatory practices dating back to 2013 ""would seem to belie Mr. Spiro's assertions"" that his client's counterclaims are ""frivolous.""""Those findings by the EEOC may well be why Bowlero has sued Mr. Tanase. Bowlero's actions remind me of a sports cliche: the best defense is a good offense,"" Pickus added.""We look forward to proving both claims,"" he said.Still at issue is whether Tanase resigned or was fired from his position — a dispute that's at the center of Bowlero's lawsuit, Tanase's proposed countersuit and his EEOC claim, which are all separate but related actions.In the leadup to his separation from Bowlero, Tanase said, the company began micromanaging him and harassing him by closely supervising his work so they could find a reason to fire him — a process he described as ""managing out,"" according to his EEOC complaint and proposed counterclaim. ""Although Tanase suspected for several months that his employment might be in jeopardy, at no time did he seek to secure confidential information, remove property, or engage in any other self-serving conduct while having full access to Bowlero's offices, office files, and computer servers,"" Tanase's attorneys wrote in the proposed counterclaim.In the EEOC's determination letter ruling that Tanase's claims of age discrimination had cause, Director Rosemarie Rhodes wrote that the conduct of Tanase's then-supervisor, current Bowlero President Lev Ekster, ""included unwarranted hostility, frequent criticism, unnecessary correction of his work, and undermining his authority and role vis-a-vis subordinates and vendors."" Bowlero alleged that following Tanase's separation from the company, he vowed to get ""revenge"" on his former employer and ""bury"" its CEO, according to its lawsuit against Tanase. The company alleged in its suit that Tanase told Bowlero Vice President of Human Resources Heather Webb that he had spoken with CNBC and several lawyers, including Dowe, about the company.""Mr. Tanase said he would 'walk away', which Ms. Webb understood to mean that he would no longer attempt to seek revenge or retribution on Bowlero or Mr. Shannon, if Bowlero were to pay him a $1.2 million 'severance' payment. Bowlero refused to make the payment,"" Bowlero's lawsuit said. Tanase denies the claims.",CNBC,09/04/2024,"[""In this articleA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversationfiled in court."", ""The allegations by Bowlero's former chief information officer, Thomas Tanase, filed Wednesday in a proposed countersuit in Virginia federal court, come after he and dozens of others filed discrimination claims with the U.S. Equal Employment Opportunity Commission alleging they were fired based on their age or out of retaliation, according to company securities filings and the proposed countersuit."", 'Bowlero denies the claims.', 'The company, which went public in late 2021 through a special purpose acquisition company, or SPAC, was among the select successful stocks to emerge from the SPAC boom.', 'It owns two of the biggest brands in bowling — AMF and Lucky Strike — and operated more than 300 bowling centers across North America as of July.', 'Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.', ""Tanase started with the company's information technology department in 2001 beforeclimbing his way up to the C-suite, where he worked closely with the company's CEO and frequently had access to sensitive information contained in the CEO's email accounts, he said in court filings."", 'He says the company fired him in May because of his age, and in August, he filed a discrimination claim with the EEOC, according to a copy of the claim, which was included as an exhibit to the proposed countersuit.', ""Bowlero says that Tanase resigned and then had a change of heart when he realized he wouldn't get severance pay."", 'In July, the company sued him, alleging he hacked into the email account of CEO Thomas Shannon, copied company documents onto a personal USB drive and refused to hand over his company-issued devices.', 'Tanase denies the claims.', ""Now, Tanase is seeking the court's permission to countersue Bowlero and the company's executive vice chairman, Brett Parker."", 'Federal rules require Tanase to get permission to countersue given the timing of the filings.', 'In the proposed countersuit, Tanase alleges that Parker threatened to report him to the FBI if he didn\'t admit to accessing Shannon\'s emails and ""come clean"" about information he shared with Daniel Dowe, the attorney representing the EEOC complainants, and with CNBC, which has previously written about the discrimination allegations against Bowlero.', ""During a March deposition, Tanase testified that he hadn't spoken with CNBC, or any other media outlet, about the company."", ""In a phone conversation between Tanase and Parker that Tanase recorded in June 2023, Bowlero's vice chairman and former finance chief allegedly asked Tanase numerous times to reveal what he'd said and told him that if he did, all would be forgiven, according to a transcript attached as an exhibit to the proposed counterclaim."", '""If you come clean there is a path where you are our friend ... You tell us everything that\'s transpired ... You tell us everything you know about Dowe everything that\'s ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.', '""Then there can be a number and there can be a go away and we can move on.', 'But we have to get the truth and full clarity,"" Parker said, according to the transcript.', '""You can ... Fall back into our good graces and be our friend in this matter and you will get paid to do that, but it has to start with the truth.', '""According to the transcript, Parker told Tanase if he explained everything and shared what information he had disclosed, the company could give him a ""severance,"" but ""you really don\'t want this to start with the police.', '""""I\'m not going to be able to fight this internally, and you\'re going to be trying to explain to the FBI that some device did this and I don\'t want you to be in that position,"" Parker said, according to the transcript.', '""You gotta help me help you,"" he added.', ""In response, Tanase repeatedly told Parker he didn't share any information with anyone and had been in the hospital when Shannon's email account was allegedly breached, according to the transcript."", 'As Bowlero\'s former CIO, he previously had access to the CEO\'s account and said it may have still been logged in on another device. ""', ""I haven't done anything illegal ... I haven't done anything malicious either."", ""I haven't talked to anything or given out any information to anybody."", 'I\'ve told you this before,"" said Tanase, according to the transcript.', 'Bowlero said the transcript simply shows the company trying to extend an ""olive branch"" to Tanase if he were to confess to the hacking allegations.', '""Far from wrongfully seeking to obtain a benefit from Tanase, Mr. Parker ... acknowledges that he is \'trying to help.\'', 'These are all actions which, in the face of Tanase\'s hacking of Bowlero computer systems, neither Bowlero nor Mr. Parker were required to do,"" Bowlero said in filings.', '""Indeed, what Tanase suggests is \'extortion\' is obviously no such thing.', 'Hence, even if Tanase had a private right of action for an extortion claim, the elements of such a claim are not met here,"" the company said.', ""Tanase further alleges that Bowlero's suit against him was brought in retaliation for his refusal to sign a termination agreement that required him to waive his right to pursue legal action against the company."", 'He also claims Bowlero sued him to deter him from filing a complaint with the EEOC or serving as a witness in its investigation into Bowlero.', ""Tanase's attorneys are seeking around $8 million in damages from Bowlero on the extortion claim and more than $27 million on the retaliation claim."", ""Late Thursday, Bowlero asked the judge overseeing the case to deny the request to countersue and to sanction Tanase by either issuing a default judgment in the company's favor or precluding Tanase from further testimony."", 'In court filings, the company said Tanase admitted he misstated facts in an earlier court affidavit, which he later corrected, and pointed out that he has hired at least three different law firms since the onset of the case.', '""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions.', 'Bowlero\'s attorney Alex Spiro at law firm Quinn Emanuel, who has also represented A-listers such as Elon Musk and Alec Baldwin, said in a statement to CNBC Tanase ""will lose"" his request to file a countersuit, and that it ""is almost certainly going to be denied.', '""""Mr.', ""Tanase is now seeking the court's permission to file baseless counterclaims against Bowlero, five months after the deadline and five days before fact discovery will close."", 'This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.', '""His counterclaims are completely frivolous and we are seeking fees for responding to his motion,"" he said.', 'In response, Tanase\'s attorney Scott Pickus told CNBC if the court doesn\'t permit Tanase to move forward with his counterclaim in the case, the suit can and ""likely will"" be filed as a new action.', 'He said he ""very much"" disagrees that the assertions made in the proposed counterclaim are frivolous.', ""He said he won't comment on remarks Tanase made about misstating facts."", '""Suffice it to say that we disagree with Bowlero\'s interpretation of the law, disagree with Bowlero\'s recitation of the facts, and look forward to the trial of this matter,"" Pickus said.', 'Bowlero has been embroiled in an EEOC investigation since 2016 involving more than 70 former employees who claim they were unlawfully fired.', 'They allege that Bowlero fired them for being too old as it worked to transform its hundreds of locations from what the company has referred to as ""dingy"" bowling alleys to upmarket experiences with elevated food and drink offerings.', 'Complaints and an affidavit filed by three former employees, including Tanase, say Shannon hosted ""beauty contests"" with prospective hires over brief video calls to evaluate a candidate\'s appearance as part of the hiring process.', 'Tanase\'s complaint accused Shannon of making ""racial and especially inappropriate \'blonde women\' jokes"" and ""always treated wom[e]n as an inferior class to men.""', 'Tanase also alleged that the company\'s policies banning Timberland boots and ball caps worn backward were ""designed to deter African American males from using"" the company\'s bowling centers.', ""The EEOC has found reasonable cause in the majority of the complaints brought against Bowlero, including Tanase's, while the rest remain under investigation, according to Tanase's complaint and company reports."", 'When the EEOC finds reasonable cause in a complaint, it means it believes discrimination occurred.', 'The EEOC previously tried to settle the complaints with Bowlero for $60 million in January 2023, but those efforts failed last April, CNBC previously reported.', ""The agency now has the ability to file a federal lawsuit against the company, but it's unclear if it will."", ""Before the agency can sue Bowlero in federal court, the EEOC's commissioners need to vote on the matter."", 'Spiro, Bowlero\'s attorney, told CNBC the employment discrimination claims ""are without merit.', '""""The so-called eeoc issues are age based discrimination claims, some of which date back to nearly a decade ago and no civil nor eeoc suit has ever even occurred with respect to those claims,"" Spiro wrote in an email.', 'Pickus, Tanase\'s attorney, said the EEOC\'s reasonable cause findings that Bowlero engaged in discriminatory practices dating back to 2013 ""would seem to belie Mr. Spiro\'s assertions"" that his client\'s counterclaims are ""frivolous.', '""""Those findings by the EEOC may well be why Bowlero has sued Mr. Tanase.', 'Bowlero\'s actions remind me of a sports cliche: the best defense is a good offense,"" Pickus added.', '""We look forward to proving both claims,"" he said.', ""Still at issue is whether Tanase resigned or was fired from his position — a dispute that's at the center of Bowlero's lawsuit, Tanase's proposed countersuit and his EEOC claim, which are all separate but related actions."", 'In the leadup to his separation from Bowlero, Tanase said, the company began micromanaging him and harassing him by closely supervising his work so they could find a reason to fire him — a process he described as ""managing out,"" according to his EEOC complaint and proposed counterclaim.', '""Although Tanase suspected for several months that his employment might be in jeopardy, at no time did he seek to secure confidential information, remove property, or engage in any other self-serving conduct while having full access to Bowlero\'s offices, office files, and computer servers,"" Tanase\'s attorneys wrote in the proposed counterclaim.', 'In the EEOC\'s determination letter ruling that Tanase\'s claims of age discrimination had cause, Director Rosemarie Rhodes wrote that the conduct of Tanase\'s then-supervisor, current Bowlero President Lev Ekster, ""included unwarranted hostility, frequent criticism, unnecessary correction of his work, and undermining his authority and role vis-a-vis subordinates and vendors.', '""Bowlero alleged that following Tanase\'s separation from the company, he vowed to get ""revenge"" on his former employer and ""bury"" its CEO, according to its lawsuit against Tanase.', 'The company alleged in its suit that Tanase told Bowlero Vice President of Human Resources Heather Webb that he had spoken with CNBC and several lawyers, including Dowe, about the company.', '""Mr.', ""Tanase said he would 'walk away', which Ms. Webb understood to mean that he would no longer attempt to seek revenge or retribution on Bowlero or Mr. Shannon, if Bowlero were to pay him a $1.2 million 'severance' payment."", 'Bowlero refused to make the payment,"" Bowlero\'s lawsuit said.', 'Tanase denies the claims.']",-0.0728504854179812,"""If you come clean there is a path where you are our friend ... You tell us everything that's transpired ... You tell us everything you know about Dowe everything that's ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.","This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.",-0.2596658955920826,"Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.","""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions.",2024-04-11 -"Delta forecasts quarterly earnings ahead of expectations, focuses on efficiency as growth steadies",https://www.cnbc.com/2024/04/10/delta-air-lines-dal-q1-2024-earnings.html,2024-04-10T15:28:18+0000,"In this articleDelta Air Lines swung to a profit in the first quarter, and CEO Ed Bastian said bookings for both leisure and business travel are strong as the peak travel season approaches, despite persistent inflation.""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Bastian said in an interview.Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG, formerly known as Refinitiv. It said revenue in the current period could rise as much as 7%, ahead of analysts' estimates. Delta also reiterated its full-year forecast for $6 to $7 a share and free cash flow of between $3 billion and $4 billion.Business travel improved in the last quarter and solid demand is likely to continue, executives said, citing 14% growth in corporate travel sales. They called out the technology, consumer and financial services sectors as particularly strong.Delta has slowed hiring, like other carriers, after a massive spree in the wake of the pandemic, and is focusing more on efficiency. Bastian told CNBC that the company's headcount will likely be up low single digits this year compared with 2023.Here's how the company performed in the three months ended March 31, compared with Wall Street expectations based on consensus estimates from LSEG:The carrier made $37 million, or 6 cents per share, in the first three months of the year, up from a loss of $363 million, or 57 cents per share, in the year-earlier period, it said Wednesday. Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023.Revenue of $12.56 billion, adjusted to strip out refinery sales, was up 6% from last year, and slightly below analysts' expectations.Delta's unit cost, when stripping out fuel, rose 1.5% on the year. Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel. Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report.""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.",CNBC,10/04/2024,"['In this articleDelta Air Lines swung to a profit in the first quarter, and CEO Ed Bastian said bookings for both leisure and business travel are strong as the peak travel season approaches, despite persistent inflation.', '""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Bastian said in an interview.', 'Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG, formerly known as Refinitiv.', ""It said revenue in the current period could rise as much as 7%, ahead of analysts' estimates."", 'Delta also reiterated its full-year forecast for $6 to $7 a share and free cash flow of between $3 billion and $4 billion.', 'Business travel improved in the last quarter and solid demand is likely to continue, executives said, citing 14% growth in corporate travel sales.', 'They called out the technology, consumer and financial services sectors as particularly strong.', 'Delta has slowed hiring, like other carriers, after a massive spree in the wake of the pandemic, and is focusing more on efficiency.', ""Bastian told CNBC that the company's headcount will likely be up low single digits this year compared with 2023.Here's how the company performed in the three months ended March 31,compared with Wall Street expectations based on consensus estimates from LSEG:The carrier made $37 million, or 6 cents per share, in the first three months of the year, up from a loss of $363 million, or 57 cents per share, in the year-earlier period, it said Wednesday."", ""Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023.Revenue of $12.56 billion, adjusted to strip out refinery sales, was up 6% from last year, and slightly below analysts' expectations."", ""Delta's unit cost, when stripping out fuel, rose 1.5% on the year."", 'Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel.', ""Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report."", '""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.']",0.3776985509568563,"""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.",,0.6383908661929044,"Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel.","Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report.",2024-04-11 -How Trump’s tariff plans could kill jobs and worsen inflation,https://edition.cnn.com/2024/04/11/economy/trump-tariffs-trade-jobs-inflation/index.html," - Published - 6:00 AM EDT, Thu April 11, 2024 - ","Tariff Man could be back in the White House next year – and he’s promising the sequel will be even bigger than the original. - - Former President Donald Trump, who labeled himself “Tariff Man” in 2018, has made clear he wants to pursue a more aggressive trade strategy if he’s elected in November. Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico. - - Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too. - - Some economists are warning Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors. - - In a worst-case scenario, economists fear these policies could set the stage for a recession. - - “The policy is very bad. Tariffs make consumers poorer. They shrink the economy,” Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN in a phone interview. “This would probably be the most damaging part of a Trump 2.0 economic agenda.” - - How damaging? It’s hard to say exactly because there is a lot of uncertainty over how much of Trump’s proposed agenda would actually be enacted. And it’s possible Trump could offset the trade pain by cutting taxes. - - Still, even if Trump used the tariff revenue to fund tax cuts, his proposals for a 10% tariffs on imports and a 60% tariff on Chinese goods would cost the US economy 675,000 jobs, wipe out 0.6 percentage points from US gross domestic product (the broadest measure of the economy) and boost the unemployment rate by 0.4 percentage points, according to Moody’s projections shared first with CNN. - - “If Trump increases tariffs as he has proposed, the economy would likely suffer a recession soon thereafter,” said Mark Zandi, chief economist at Moody’s, adding that this includes the impact of very likely retaliation from other nations. - - Inflation, a sore spot for families and the economy at large, would increase by 0.7 percentage points in the year after the tariffs are implemented, according to Zandi’s forecasts. - - Goldman Sachs told clients in a recent report that higher tariffs would likely slow GDP growth and boost consumer prices. - - “The direct impact of higher tariffs on GDP is likely to be modestly negative, with the hit to real income and consumer spending from higher prices outweighing the decline in the trade deficit,” Goldman Sachs economists led by Jan Hatzius wrote. - - There would also likely be knock-on effects that could do further damage to the economy. - - “The 2018-2019 experience suggests that there would likely also be negative indirect effects, including a tightening of financial conditions, a hit to business sentiment and an increase in trade policy uncertainty,” Goldman economists wrote. - - The Wall Street bank cautioned, however, that there is “substantial uncertainty about the size and scope” of tariff increases and what products would be excluded from the levies. - - To be sure, Trump has legitimate gripes with China on the trade front. - - Many Democrats and business leaders are similarly concerned about China’s alleged intellectual property theft, efforts by Beijing to force American companies to hand over their technology and “dumping” goods at artificially cheap prices. - - US Treasury Secretary Janet Yellen, President Joe Biden’s point person on the economy, focused on China’s troubling overcapacity during a high-profile visit to China this week. - - Karoline Leavitt, a spokesperson for the Trump campaign, told CNN in a statement that Trump cut regulations and taxes and used the leverage of the United States to “negotiate better trade deals around the world” and build the “strongest economy in American history.” - - “In just three years, Joe Biden’s out of control spending created the worst inflation crisis in generations which hurt small businesses, resulted in increased layoffs, and many Americans losing their jobs to cheap foreign labor overseas,” Leavitt said. “When President Trump is back in the White House, he will reimplement his America First, pro-growth, pro-job agenda and uplift all Americans.” - - In response, the Biden campaign criticized Trump’s economic track record, but did not directly address the impact of his trade plans. - - “Donald Trump had the worst economic record of any president in modern American history, losing jobs and exploding the national debt. His plans for a second term will decimate the middle class,” Biden campaign spokesperson James Singer told CNN in a statement. “The Trump campaign is clearly confused, because under President Biden’s leadership, unemployment has hit record lows and 15 million new jobs have been created.” - - As with many things related to Trump, experts said it’s hard to know how much of Trump’s tough talk on trade is real and how much of it is bluster. But Trump’s last term in the White House showed that he would have the power to ramp up the trade battle with China if he chooses to. - - “The president really does have a lot of unilateral authority to do whatever he wants on trade. That’s deeply concerning,” said Durante, the Tax Foundation economist. - - Of course, the economy is in a very different place today than it was in 2016 when Trump was first on the campaign trail advocating a forceful trade strategy against China and later when he imposed steep tariffs. - - Back then, inflation was very low and interest rates were near-zero. Consumer prices increased just 2.1% in 2017, according to the Bureau of Labor Statistics. If anything, central bankers at the time were concerned inflation was too low, a problem that sounds quaint in hindsight. - - Now, Americans are still grappling with a large spike in prices compared with before the pandemic. - - Although inflation has cooled since hitting a four-decade high of 9.1% in June 2022, it remains stubbornly high. And that is raising concerns over whether the Federal Reserve will be able to cut interest rates anytime soon. - - Lobbing new tariffs on China and other countries right now would cause a one-time boost to the rate of inflation – a risky strategy given concerns about the cost of living and borrowing costs. - - “This would be particularly ill-timed,” said Joe Brusuelas, chief economist at RSM, referring to tariffs.  “Risks around inflation linked to tariffs are demonstrably higher today than in 2016. When I watch both campaigns talk about tariffs, I’m concerned that political actors don’t adequately understand just how decisively different the global economy is today.” - - Brusuelas said that a new round of tariffs would act as a “tax on all US consumers.” - - “This would be felt most notably by your Target and Walmart because there is no ready substitute for these goods,” he said, referring to Trump’s 60% tariff proposal. - - Brusuelas suggested Trump could face a Liz Truss moment, referring to the UK prime minister whose plan for massive tax cuts stunned financial markets and helped make her Britain’s shortest-serving prime minister. - - “Instead of bond vigilantes, you could get trade vigilantes,” he said. - - Maury Obstfeld, senior fellow at the Peterson Institute for International Economics, agrees that massive new tariffs “could have a destabilizing effect on financial markets.” - - “Clearly, China would retaliate massively. Other trading partners would be unlikely to take it laying down,” said Obstfeld, a former official at the International Monetary Fund (IMF) and in the Obama administration. - - Trump has repeatedly suggested other nations are paying for US tariffs. In reality, experts say it’s US consumers and businesses who pay the levy. That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately consumers. - - “The 2018-2019 tariffs clearly raised consumer prices,” Goldman Sachs economists wrote in their recent report, adding that these price increases were “borne almost entirely by US businesses and households” – not Chinese exporters. - - Likewise, the US International Trade Commission said in a 2023 study that US importers “bore nearly the full cost” of the tariffs. - - Worse, some businesses appeared to take advantage of the trade war by bumping up prices even higher. - - Goldman Sachs found that tariffs allowed US producers and non-Chinese exporters to the US market to “opportunistically raise their prices as well.” - - Even Biden has been searching for ways to ease inflation; his administration has not abandoned the Trump trade strategy. - - US tariffs on China remain in place and there has been little movement towards removing them. Steel and aluminum tariffs are also still intact. - - “Lowering tariffs would be a benefit to consumers. But there is no political appetite to turn these things back at the moment,” said Obstfeld, the former Obama official. “Trade has become toxic – to both parties.” - - Durante, the Tax Foundation economist, agreed that politics explains why tariffs have become a bipartisan strategy. - - “The policy itself is not working, but it sounds really good,” he said.",CNN,11/04/2024,"['Tariff Man could be back in the White House next year – and he’s promising the sequel will be even bigger than the original.', 'Former President Donald Trump, who labeled himself “Tariff Man” in 2018, has made clear he wants to pursue a more aggressive trade strategy if he’s elected in November.', 'Trump has floated a 10% across-the-board tariff on imports, a 60% tariff on imports from China and a 100% tariff on foreign cars – including from Mexico.', 'Trump’s proposals, if enacted, could easily set off a new trade war with China and potentially other nations, too.', 'Some economists are warning Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors.', 'In a worst-case scenario, economists fear these policies could set the stage for a recession.', '“The policy is very bad.', 'Tariffs make consumers poorer.', 'They shrink the economy,” Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN in a phone interview. “', 'This would probably be the most damaging part of a Trump 2.0 economic agenda.”', 'How damaging?', 'It’s hard to say exactly because there is a lot of uncertainty over how much of Trump’s proposed agenda would actually be enacted.', 'And it’s possible Trump could offset the trade pain by cutting taxes.', 'Still, even if Trump used the tariff revenue to fund tax cuts, his proposals for a 10% tariffs on imports and a 60% tariff on Chinese goods would cost the US economy 675,000 jobs, wipe out 0.6 percentage points from US gross domestic product (the broadest measure of the economy) and boost the unemployment rate by 0.4 percentage points, according to Moody’s projections shared first with CNN.', '“If Trump increases tariffs as he has proposed, the economy would likely suffer a recession soon thereafter,” said Mark Zandi, chief economist at Moody’s, adding that this includes the impact of very likely retaliation from other nations.', 'Inflation, a sore spot for families and the economy at large, would increase by 0.7 percentage points in the year after the tariffs are implemented, according to Zandi’s forecasts.', 'Goldman Sachs told clients in a recent report that higher tariffs would likely slow GDP growth and boost consumer prices.', '“The direct impact of higher tariffs on GDP is likely to be modestly negative, with the hit to real income and consumer spending from higher prices outweighing the decline in the trade deficit,” Goldman Sachs economists led by Jan Hatzius wrote.', 'There would also likely be knock-on effects that could do further damage to the economy.', '“The 2018-2019 experience suggests that there would likely also be negative indirect effects, including a tightening of financial conditions, a hit to business sentiment and an increase in trade policy uncertainty,” Goldman economists wrote.', 'The Wall Street bank cautioned, however, that there is “substantial uncertainty about the size and scope” of tariff increases and what products would be excluded from the levies.', 'To be sure, Trump has legitimate gripes with China on the trade front.', 'Many Democrats and business leaders are similarly concerned about China’s alleged intellectual property theft, efforts by Beijing to force American companies to hand over their technology and “dumping” goods at artificially cheap prices.', 'US Treasury Secretary Janet Yellen, President Joe Biden’s point person on the economy, focused on China’s troubling overcapacity during a high-profile visit to China this week.', 'Karoline Leavitt, a spokesperson for the Trump campaign, told CNN in a statement that Trump cut regulations and taxes and used the leverage of the United States to “negotiate better trade deals around the world” and build the “strongest economy in American history.”', '“In just three years, Joe Biden’s out of control spending created the worst inflation crisis in generations which hurt small businesses, resulted in increased layoffs, and many Americans losing their jobs to cheap foreign labor overseas,” Leavitt said. “', 'When President Trump is back in the White House, he will reimplement his America First, pro-growth, pro-job agenda and uplift all Americans.”', 'In response, the Biden campaign criticized Trump’s economic track record, but did not directly address the impact of his trade plans.', '“Donald Trump had the worst economic record of any president in modern American history, losing jobs and exploding the national debt.', 'His plans for a second term will decimate the middle class,” Biden campaign spokesperson James Singer told CNN in a statement. “', 'The Trump campaign is clearly confused, because under President Biden’s leadership, unemployment has hit record lows and 15 million new jobs have been created.”', 'As with many things related to Trump, experts said it’s hard to know how much of Trump’s tough talk on trade is real and how much of it is bluster.', 'But Trump’s last term in the White House showed that he would have the power to ramp up the trade battle with China if he chooses to.', '“The president really does have a lot of unilateral authority to do whatever he wants on trade.', 'That’s deeply concerning,” said Durante, the Tax Foundation economist.', 'Of course, the economy is in a very different place today than it was in 2016 when Trump was first on the campaign trail advocating a forceful trade strategy against China and later when he imposed steep tariffs.', 'Back then, inflation was very low and interest rates were near-zero.', 'Consumer prices increased just 2.1% in 2017, according to the Bureau of Labor Statistics.', 'If anything, central bankers at the time were concerned inflation was too low, a problem that sounds quaint in hindsight.', 'Now, Americans are still grappling with a large spike in prices compared with before the pandemic.', 'Although inflation has cooled since hitting a four-decade high of 9.1% in June 2022, it remains stubbornly high.', 'And that is raising concerns over whether the Federal Reserve will be able to cut interest rates anytime soon.', 'Lobbing new tariffs on China and other countries right now would cause a one-time boost to the rate of inflation – a risky strategy given concerns about the cost of living and borrowing costs.', '“This would be particularly ill-timed,” said Joe Brusuelas, chief economist at RSM, referring to tariffs. “', 'Risks around inflation linked to tariffs are demonstrably higher today than in 2016.', 'When I watch both campaigns talk about tariffs, I’m concerned that political actors don’t adequately understand just how decisively different the global economy is today.”', 'Brusuelas said that a new round of tariffs would act as a “tax on all US consumers.”', '“This would be felt most notably by your Target and Walmart because there is no ready substitute for these goods,” he said, referring to Trump’s 60% tariff proposal.', 'Brusuelas suggested Trump could face a Liz Truss moment, referring to the UK prime minister whose plan for massive tax cuts stunned financial markets and helped make her Britain’s shortest-serving prime minister.', '“Instead of bond vigilantes, you could get trade vigilantes,” he said.', 'Maury Obstfeld, senior fellow at the Peterson Institute for International Economics, agrees that massive new tariffs “could have a destabilizing effect on financial markets.”', '“Clearly, China would retaliate massively.', 'Other trading partners would be unlikely to take it laying down,” said Obstfeld, a former official at the International Monetary Fund (IMF) and in the Obama administration.', 'Trump has repeatedly suggested other nations are paying for US tariffs.', 'In reality, experts say it’s US consumers and businesses who pay the levy.', 'That’s because tariffs tax imports when they come ashore, adding costs for US distributors, retailers and, ultimately consumers.', '“The 2018-2019 tariffs clearly raised consumer prices,” Goldman Sachs economists wrote in their recent report, adding that these price increases were “borne almost entirely by US businesses and households” – not Chinese exporters.', 'Likewise, the US International Trade Commission said in a 2023 study that US importers “bore nearly the full cost” of the tariffs.', 'Worse, some businesses appeared to take advantage of the trade war by bumping up prices even higher.', 'Goldman Sachs found that tariffs allowed US producers and non-Chinese exporters to the US market to “opportunistically raise their prices as well.”', 'Even Biden has been searching for ways to ease inflation; his administration has not abandoned the Trump trade strategy.', 'US tariffs on China remain in place and there has been little movement towards removing them.', 'Steel and aluminum tariffs are also still intact.', '“Lowering tariffs would be a benefit to consumers.', 'But there is no political appetite to turn these things back at the moment,” said Obstfeld, the former Obama official. “', 'Trade has become toxic – to both parties.”', 'Durante, the Tax Foundation economist, agreed that politics explains why tariffs have become a bipartisan strategy.', '“The policy itself is not working, but it sounds really good,” he said.']",-0.1060782173043876,"Karoline Leavitt, a spokesperson for the Trump campaign, told CNN in a statement that Trump cut regulations and taxes and used the leverage of the United States to “negotiate better trade deals around the world” and build the “strongest economy in American history.”","Some economists are warning Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors.",-0.452804374423894,"Consumer prices increased just 2.1% in 2017, according to the Bureau of Labor Statistics.","“Donald Trump had the worst economic record of any president in modern American history, losing jobs and exploding the national debt.",2024-04-11 -"Boeing spent $500,000 more than it previously disclosed on personal private jet trips for top executives",https://edition.cnn.com/2024/04/11/business/boeing-executives-personal-air-travel-costs/index.html," - Published - 2:56 PM EDT, Thu April 11, 2024 - ","Embattled airplane maker Boeing disclosed it lavished an additional $546,000 on the cost of personal air travel in recent years for four top executives, including CEO Dave Calhoun, who announced last month that he will leave the company by the end of the year. - - The increased spending estimate, disclosed in a recent company filing, brought the total cost to the company for the personal air travel for the four to $1.9 million since 2021. Besides Calhoun, the other executives include CFO Brian West; Stan Deal, who recently departed as CEO of its commercial airplane unit; and Theodore Colbert, the CEO of its defense, space and security business. - - The disclosure comes as the plane maker is facing additional scrutiny for a series of safety incidents, including a midair blowout of part of a fuselage in January, which prompted a number of investigations into the company’s practices, an executive shakeup and promises that the company will turn itself around. - - The air travel is part of what are known as perquisites, or perks granted the executives, which also include ground transportation, lodging and meals during personal travel. - - And for air travel, the reported costs include only the incremental costs to Boeing, such as fuel, crew travel expenses, on-board meals, landing fees, and parking costs. It does not include the cost of the corporate jets or the salaries of the flight crew, which Boeing said it would be paying whether or not the executives made the personal trips. - - The cost of personal air travel by Calhoun alone came to $979,000 during those three years. - - The upward adjustment means that Boeing spent at least $734,000 in 2022 and $306,000 in 2021 on these executives’ personal air travel, according to figures provided. Some of the amounts for air travel for Colbert and Deal are not broken out for the earlier years, despite the increased cost now being reported for those years for all four. And 2023 personal air travel costs for the four came to $872,000. - - Boeing has been struggling financially for five years, since fatal crashes of its 737 Max in late 2018 and early 2019 resulted in a 20-month grounding of its best-selling plane. It was also hit by the pandemic, which caused a near-halt in air travel for months and deep losses at most airlines that buy its planes. - - Since the start of the grounding in 2019 the company has reported adjusted losses totaling more than $31 billion, and losses are projected to continue going forward. - - Company policy requires its CEO to fly on its fleet of private jets, or leased aircraft, even when flying for personal reasons for security reasons, and the other top executives are permitted to do so as well when aircraft are available. - - But an internal company review of some of the flights that had previously been classified as business travel determined the flights should be classified as personal travel under Securities and Exchange Commission rules, according to the filing. That review resulted in a newly reported cost of personal travel that was $546,000 more in 2022 and 2021 than previously disclosed. - - That review appears to have been conducted after a September 2023 article in the Wall Street Journal detailing the perks of top Boeing executives, including the liberal use of the aircraft to travel from homes far from company headquarters in Alexandria, Virginia. - - The new filing came Friday evening. Boeing did not have any comment on the costs of the executives’ personal air travel beyond the information in the filing. - - That Friday filing also disclosed that Calhoun’s total compensation for 2023 came to $32.8 million, up 45% from his 2022 compensation. He did decline his annual incentive bonus, which would have paid him an additional $2.8 million, after a Boeing 737 Max plane being flown by Alaska Airlines on January 5 had a door plug blow out, leaving a gaping hole in the side of the plane. - - The incident sparked a series of federal investigations, a temporary grounding, executive ousters and renewed questions about the safety and quality of Boeing planes. - - Last month, Calhoun announced he would step down as CEO of the embattled aircraft maker by the end of the year. At the same time, it was announced that Deal would retire from his position atop Boeing Commercial Airplanes, effective immediately.",CNN,11/04/2024,"['Embattled airplane maker Boeing disclosed it lavished an additional $546,000 on the cost of personal air travel in recent years for four top executives, including CEO Dave Calhoun, who announced last month that he will leave the company by the end of the year.', 'The increased spending estimate, disclosed in a recent company filing, brought the total cost to the company for the personal air travel for the four to $1.9 million since 2021.', 'Besides Calhoun, the other executives include CFO Brian West; Stan Deal, who recently departed as CEO of its commercial airplane unit; and Theodore Colbert, the CEO of its defense, space and security business.', 'The disclosure comes as the plane maker is facing additional scrutiny for a series of safety incidents, including a midair blowout of part of a fuselage in January, which prompted a number of investigations into the company’s practices, an executive shakeup and promises that the company will turn itself around.', 'The air travel is part of what are known as perquisites, or perks granted the executives, which also include ground transportation, lodging and meals during personal travel.', 'And for air travel, the reported costs include only the incremental costs to Boeing, such as fuel, crew travel expenses, on-board meals, landing fees, and parking costs.', 'It does not include the cost of the corporate jets or the salaries of the flight crew, which Boeing said it would be paying whether or not the executives made the personal trips.', 'The cost of personal air travel by Calhoun alone came to $979,000 during those three years.', 'The upward adjustment means that Boeing spent at least $734,000 in 2022 and $306,000 in 2021 on these executives’ personal air travel, according to figures provided.', 'Some of the amounts for air travel for Colbert and Deal are not broken out for the earlier years, despite the increased cost now being reported for those years for all four.', 'And 2023 personal air travel costs for the four came to $872,000.', 'Boeing has been struggling financially for five years, since fatal crashes of its 737 Max in late 2018 and early 2019 resulted in a 20-month grounding of its best-selling plane.', 'It was also hit by the pandemic, which caused a near-halt in air travel for months and deep losses at most airlines that buy its planes.', 'Since the start of the grounding in 2019 the company has reported adjusted losses totaling more than $31 billion, and losses are projected to continue going forward.', 'Company policy requires its CEO to fly on its fleet of private jets, or leased aircraft, even when flying for personal reasons for security reasons, and the other top executives are permitted to do so as well when aircraft are available.', 'But an internal company review of some of the flights that had previously been classified as business travel determined the flights should be classified as personal travel under Securities and Exchange Commission rules, according to the filing.', 'That review resulted in a newly reported cost of personal travel that was $546,000 more in 2022 and 2021 than previously disclosed.', 'That review appears to have been conducted after a September 2023 article in the Wall Street Journal detailing the perks of top Boeing executives, including the liberal use of the aircraft to travel from homes far from company headquarters in Alexandria, Virginia.', 'The new filing came Friday evening.', 'Boeing did not have any comment on the costs of the executives’ personal air travel beyond the information in the filing.', 'That Friday filing also disclosed that Calhoun’s total compensation for 2023 came to $32.8 million, up 45% from his 2022 compensation.', 'He did decline his annual incentive bonus, which would have paid him an additional $2.8 million, after a Boeing 737 Max plane being flown by Alaska Airlines on January 5 had a door plug blow out, leaving a gaping hole in the side of the plane.', 'The incident sparked a series of federal investigations, a temporary grounding, executive ousters and renewed questions about the safety and quality of Boeing planes.', 'Last month, Calhoun announced he would step down as CEO of the embattled aircraft maker by the end of the year.', 'At the same time, it was announced that Deal would retire from his position atop Boeing Commercial Airplanes, effective immediately.']",0.1420579420400226,"He did decline his annual incentive bonus, which would have paid him an additional $2.8 million, after a Boeing 737 Max plane being flown by Alaska Airlines on January 5 had a door plug blow out, leaving a gaping hole in the side of the plane.","Since the start of the grounding in 2019 the company has reported adjusted losses totaling more than $31 billion, and losses are projected to continue going forward.",-0.2002067923545837,"That Friday filing also disclosed that Calhoun’s total compensation for 2023 came to $32.8 million, up 45% from his 2022 compensation.","It was also hit by the pandemic, which caused a near-halt in air travel for months and deep losses at most airlines that buy its planes.",2024-04-11 -Why car insurance costs are skyrocketing and leading to higher inflation,https://www.cnbc.com/2024/04/11/why-car-insurance-costs-are-skyrocketing-leading-to-higher-inflation.html,2024-04-11T19:21:02+0000,"DETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners.On a monthly basis, car insurance prices as part of the consumer price index rose by an unadjusted 2.7%, while the year-over-year increased by 22.2%, according to data released Wednesday. The index is a key inflation gauge and a broad measure of the cost of goods and services across the economy.Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021. Since then, costs have increased by 45.8%, according to U.S. Bureau of Labor Statistics. However, auto insurance remains a small portion of the CPI, with a 2.85% weighting.The uptick comes on top of historically high prices for new and used vehicles since the coronavirus pandemic. It's also become increasingly more expensive to repair vehicles due to supply chain shortages, mechanic wage increases and additional technologies in vehicles such as microprocessors, cameras and other sensors — all of which contribute to higher vehicle and insurance costs.""There's not a single factor, but I think the biggest factor is a combination of new cars and more expensive, so if you total your car the replacement cost is really high and a fender bender is very expensive right now,"" said Sean Tucker, senior editor at vehicle valuation and automotive research company Kelley Blue Book. ""The technology in the cars, it's a very specific problem.""Instead of having to replace a plastic or steel bumper on many vehicles, a simple fender bender can now damage cameras, proximity sensors and varying other technologies used for newer safety features and tools such as cruise control, parking and emergency braking.""Premiums have been on the rise because the cost of what goes into auto insurance has been rising,"" David Sampson, CEO and president of the American Property Casualty Insurance Association, told CNBC. ""There's a long lag time between when the trends emerge and companies see these loss trends existing. It then takes time for them to build that into their rate application filings.""Earlier this year, Sampson himself had slight damage to a bumper on a 2024 pickup truck on his property that he says was quoted to cost him $1,800 to repair or replace.""All of the technology that we've come to rely on makes makes the replacement or repair of these vehicles really, really, costly,"" said Sampson, whose organization is the primary national trade association for home, auto and business insurers.The insurance cost increases on inflation come more than two years after the Biden administration largely blamed used car prices for pushing inflation higher in January 2022.Mitchell, an automotive software provider specializing in collision repair and auto insurance sectors, said repair costs were increasing at an annual rate of about 3.5% to 5% prior to the coronavirus pandemic. As of 2022, the increases have been at 10% or above, with the average repairable estimate for a vehicle at $4,721 in 2023.Consumers and companies alike aren't happy with the increases. J.D. Power in June reported auto insurers lost an average of 12 cents on every dollar of premium they collected in 2022 — the worst performance in more than 20 years — leading them to raise rates at the expense of customer satisfaction.""What I always remind folks is that insurance is based on actuarial science, so it's not a case of insurers just deciding that they want to increase premiums,"" Sampson said. ""The filings have to be based on actuarial loss trends in their rate applications in each state.""The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location. Nearly all states have minimum requirements for liability coverage, but there are a number of other coverages that may or may not be required in a specific state, according to insurance provider Progressive.The list of optional and mandatory coverage areas can be quite long and expensive for drivers, which has led many insurance companies to offer usage-based insurance, or UBI, programs that base the cost of a policy on a driver's behaviors using telematics data.Customers who are new to an insurer have a UBI participation rate of 26%, according to the J.D. Power's U.S. Auto Insurance Study from June.The study, in its 24th year, found UBI usage more than doubled from 2016 to 2023, with 17% of auto insurance customers participating in such programs. Price satisfaction among customers participating in these programs is 59 points higher on average than among non-participants, according to J.D. Power.Usage in such programs is only expected to increase as costs rise and insurers offer discounts or special prices for safer drivers, according to insurance companies.Based on J.D. Power's survey, UBI programs from Geico, Progressive, State Farm and Liberty Mutual were ranked above average by customers. USAA, which services all branches of the military and their families, ranked the highest.J.D. Power's study also found the cost increases have led to a more than 20-year low in customer satisfaction with auto insurance companies.""Overall customer satisfaction with auto insurers has plummeted this year, as insurers and drivers come face to face with the realities of the economy,"" Mark Garrett, director of insurance intelligence at J.D. Power, said in a June release.— CNBC's Robert Ferris and Jeff Cox contributed to this article.",CNBC,11/04/2024,"['DETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners.', 'On a monthly basis, car insurance prices as part of the consumer price index rose by an unadjusted 2.7%, while the year-over-year increased by 22.2%, according to data released Wednesday.', 'The index is a key inflation gauge and a broad measure of the cost of goods and services across the economy.', 'Auto insurance costs have been on the rise for some time, growing every month as part of the index since December 2021.', 'Since then, costs have increased by 45.8%, according to U.S. Bureau of Labor Statistics.', 'However, auto insurance remains a small portion of the CPI, with a 2.85% weighting.', 'The uptick comes on top of historically high prices for new and used vehicles since the coronavirus pandemic.', ""It's also become increasingly more expensive to repair vehicles due to supply chain shortages, mechanic wage increases and additional technologies in vehicles such as microprocessors, cameras and other sensors — all of which contribute to higher vehicle and insurance costs."", '""There\'s not a single factor, but I think the biggest factor is a combination of new cars and more expensive, so if you total your car the replacement cost is really high and a fender bender is very expensive right now,"" said Sean Tucker, senior editor at vehicle valuation and automotive research company Kelley Blue Book. ""', ""The technology in the cars, it's a very specific problem."", '""Instead of having to replace a plastic or steel bumper on many vehicles, a simple fender bender can now damage cameras, proximity sensors and varying other technologies used for newer safety features and tools such as cruise control, parking and emergency braking.', '""Premiums have been on the rise because the cost of what goes into auto insurance has been rising,"" David Sampson, CEO and president of the American Property CasualtyInsurance Association, told CNBC. ""', ""There's a long lag time between when the trends emerge and companies see these loss trends existing."", 'It then takes time for them to build that into their rate application filings.', '""Earlier this year, Sampson himself had slight damage to a bumper on a 2024 pickup truck on his property that he says was quoted to cost him $1,800 to repair or replace.', '""All of the technology that we\'ve come to rely on makes makes the replacement or repair of these vehicles really, really, costly,"" said Sampson, whose organization is the primary national trade association for home, auto and business insurers.', 'The insurance cost increases on inflation come more than two years after the Biden administration largelyblamed used car pricesfor pushing inflation higher in January 2022.Mitchell, an automotive software provider specializing in collision repair and auto insurance sectors, said repair costs were increasing at an annual rate of about 3.5% to 5% prior to the coronavirus pandemic.', ""As of 2022, the increases have been at 10% or above, with the average repairable estimate for a vehicle at $4,721 in 2023.Consumers and companies alike aren't happy with the increases."", 'J.D. Power in June reported auto insurers lost an average of 12 cents on every dollar of premium they collected in 2022 — the worst performance in more than 20 years — leading them to raise rates at the expense of customer satisfaction.', '""What I always remind folks is that insurance is based on actuarial science, so it\'s not a case of insurers just deciding that they want to increase premiums,"" Sampson said. ""', 'The filings have to be based on actuarial loss trends in their rate applications in each state.', '""The cost of vehicle insurance — which is mandatory in almost every state — varies by provider, driver, coverage and location.', 'Nearly all states have minimum requirements for liability coverage, but there are a number of other coverages that may or may not be required in a specific state, according to insurance provider Progressive.', ""The list of optional and mandatory coverage areas can be quite long and expensive for drivers, which has led many insurance companies to offer usage-based insurance, or UBI, programs that base the cost of a policy on a driver's behaviors using telematics data."", ""Customers who are new to an insurer have a UBI participation rate of 26%, according to the J.D. Power's U.S. Auto Insurance Study from June."", 'The study, in its 24th year, found UBI usage more than doubled from 2016 to 2023, with 17% of auto insurance customers participating in such programs.', 'Price satisfaction among customers participating in these programs is 59 points higher on average than among non-participants, according to J.D. Power.', 'Usage in such programs is only expected to increase as costs rise and insurers offer discounts or special prices for safer drivers, according to insurance companies.', ""Based on J.D. Power's survey, UBI programs from Geico, Progressive, State Farm and Liberty Mutual were ranked above average by customers."", 'USAA, which services all branches of the military and their families, ranked the highest.', ""J.D. Power's study also found the cost increases have led to a more than 20-year low in customer satisfaction with auto insurance companies."", '""Overall customer satisfaction with auto insurers has plummeted this year, as insurers and drivers come face to face with the realities of the economy,"" Mark Garrett, director of insurance intelligence at J.D. Power, said in a June release.—', ""CNBC's Robert Ferris and Jeff Cox contributed to this article.""]",0.0375489671697234,"Usage in such programs is only expected to increase as costs rise and insurers offer discounts or special prices for safer drivers, according to insurance companies.",There's a long lag time between when the trends emerge and companies see these loss trends existing.,-0.4125405769599111,"On a monthly basis, car insurance prices as part of the consumer price index rose by an unadjusted 2.7%, while the year-over-year increased by 22.2%, according to data released Wednesday.","""Overall customer satisfaction with auto insurers has plummeted this year, as insurers and drivers come face to face with the realities of the economy,"" Mark Garrett, director of insurance intelligence at J.D. Power, said in a June release.—",2024-04-11 -Dollar stores are shutting down across America. They did this to themselves,https://edition.cnn.com/2024/04/11/business/family-dollar-99-cents-only-closing/index.html," - Updated - 8:40 AM EDT, Thu April 11, 2024 - ","These are tough times for two big US dollar store chains. In the past month, Family Dollar said it will close nearly 1,000 stores and 99 Cents Only said it will go out of business. - - Both companies said inflation and shoplifting have contributed to their troubles. While inflation has pressured the companies’ low-income customer base and shoplifting has squeezed their profits, those factors alone can’t explain their difficulties. - - Years of strategic mistakes and underinvestment have plagued Family Dollar and 99 Cents Only, retail analysts say. Both brands were acquired by other companies and faltered under their new owners. - - Family Dollar has around 8,000 stores mostly in cities, and the chain has struggled since Dollar Tree bought it in 2015 for $8.5 billion. Dollar Tree believed acquiring Family Dollar would help it compete against larger rivals. But it misjudged the deal. - - Since the “botched acquisition,” Family Dollar “has caused Dollar Tree nothing but hassle,” Neil Saunders, managing director of GlobalData, said in a recent note to clients. “Basically, almost ten years on, Dollar Tree is still sifting through the mess it inherited and has not been able to completely turn around.” - - 99 Cents Only, a chain on the West Coast and Texas, has also suffered from missteps, including stores that were too large and inefficient to run. - - “They never had the right business model. They were never going to get there,” said David D’Arezzo, a former top executive at Dollar General and other retailers. - - Here’s a look at what’s gone wrong at both chains. - - Family Dollar will close 600 locations this year, and 370 stores over the next several years as store leases expire. These locations are unprofitable for the company, Dollar Tree CEO Rick Dreiling said on a call with analysts last month. - - “Family Dollar is a victim of the macro environment out there,” he said. - - But Family Dollar’s woes date back more than a decade. Messy stores, high prices and over-expansion plagued the company, analysts say. - - “It’s no secret that Family Dollar’s challenges stem back much much further,” said Kelly Bania, a retail analyst at BMO Capital Markets. “They have massively underinvested in the store base over the last decade or two.” - - In 2014, activist investors— including Carl Icahn and Nelson Peltz — pushed Family Dollar to sell itself. A year later, Dollar Tree bought the company. - - At the time, Dollar Tree was smaller than Family Dollar. While Dollar Tree and Family Dollar share similar names, they have different strategies. - - Dollar Tree is mostly suburban, and caters to middle-income shoppers with party supplies and knickknacks. It acquired Family Dollar — which sells more basic foods and household essentials — to grow with lower-income customers in urban and rural areas. - - The combined company hoped that by joining forces it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General, which is located primarily in rural areas. - - But analysts say the match between the two different chains was a poor fit, and Dollar Tree has struggled to manage the larger Family Dollar store base. - - “When Dollar Tree bought Family Dollar, they didn’t really know what they were doing,” D’Arezzo said. “They didn’t know how to run Family Dollar.” - - Family Dollar stores were in worse condition than Dollar Tree management expected, and early strategies to improve sales, such as selling beer, fell short. - - Many Family Dollar stores were located too close to each other and cannibalized each other’s own sales, too, D’Arezzo said. - - “Family Dollar’s sales have been sputtering, hurt by neglected stores, poor product selection and unhappy workers,” The Wall Street Journal reported in 2018. Family Dollar “needs more work than the company originally thought.” - - A year later, an activist investor pushed for a sale of the “underperforming” Family Dollar business, and Family Dollar announced it would close 390 stores. - - Even though Family Dollar has renovated thousands of stores in recent years, many stores are still poorly maintained, analysts say. Family Dollar was hit with a record $41.6 million fine by the Justice Department this year for violating product safety standards after selling items that were stocked in a rat-infested warehouse in West Memphis filled with live, dead and decaying rodents. - - Dollar Tree and Family Dollar executives say Family Dollar can still succeed, however. - - The retail chain has a new CEO and management team, and it has been lowering its prices to draw more customers, adding more private-label brands and investing in the supply chain. - - “While we are in the early stages of our transformation journey under our new management team, we are proud of the progress we’ve made to date, and see a long runway for growth ahead for our business,” a company spokesperson said. - - A “well-run and well-located Family Dollar store is a powerful retail force,” CEO Dreiling said. - - 99 Cents Only said that it filed for bankruptcy because “the last several years have presented significant and lasting challenges” in retail, including the impact of the pandemic, inflation and rising shoplifting. - - But 99 Cents Only’s challenges stem back further. The retail chain has not been profitable since 2015. - - The company has more than 370 stores in California, Nevada, Arizona and Texas — 265 of which are in California. It was taken private in 2011 in a $1.6 billion leveraged buyout, and the company took on even more debt in the following years to stay afloat. - - At the time of the deal, 99 Cents Only had the second-highest profit margin and the most sales per square foot among its rivals, Bloomberg reported. - - But 99 Cents Only quickly fell behind. The company introduced a strategy to raise the height of shelves, known as Go Taller, but it led to increases in spoiled food and broken products as merchandise fell to the floor, according to Bloomberg. - - The company struggled to keep up with larger rivals such as Walmart, Costco and Dollar General, and it lost money every year beginning in 2016. “The increasingly competitive landscape of the discount retail industry continued to take its toll,” 99 Cents Only said in its bankruptcy filing this week. - - While competitors expanded, 99 Cents Only’s high debt load left it unable to invest to improve stores, its supply chain or digital strategy. - - 99 Cents Only was “disadvantaged by limited financial flexibility and inability to devote greater resources to pursue new store growth,” the company said in its filing. - - 99 Cents Only was also hurt by its store sizes, which were costly to operate, and its focus on low-margin groceries. - - The company’s stores are on average approximately 20,000 square feet, more than double the size of a typical dollar store chain. - - “It was like trying to run a McDonald’s on five times the size,” D’Arezzo said. “They were doomed.”",CNN,11/04/2024,"['These are tough times for two big US dollar store chains.', 'In the past month, Family Dollar said it will close nearly 1,000 stores and 99 Cents Only said it will go out of business.', 'Both companies said inflation and shoplifting have contributed to their troubles.', 'While inflation has pressured the companies’ low-income customer base and shoplifting has squeezed their profits, those factors alone can’t explain their difficulties.', 'Years of strategic mistakes and underinvestment have plagued Family Dollar and 99 Cents Only, retail analysts say.', 'Both brands were acquired by other companies and faltered under their new owners.', 'Family Dollar has around 8,000 stores mostly in cities, and the chain has struggled since Dollar Tree bought it in 2015 for $8.5 billion.', 'Dollar Tree believed acquiring Family Dollar would help it compete against larger rivals.', 'But it misjudged the deal.', 'Since the “botched acquisition,” Family Dollar “has caused Dollar Tree nothing but hassle,” Neil Saunders, managing director of GlobalData, said in a recent note to clients. “', 'Basically, almost ten years on, Dollar Tree is still sifting through the mess it inherited and has not been able to completely turn around.”', '99 Cents Only, a chain on the West Coast and Texas, has also suffered from missteps, including stores that were too large and inefficient to run.', '“They never had the right business model.', 'They were never going to get there,” said David D’Arezzo, a former top executive at Dollar General and other retailers.', 'Here’s a look at what’s gone wrong at both chains.', 'Family Dollar will close 600 locations this year, and 370 stores over the next several years as store leases expire.', 'These locations are unprofitable for the company, Dollar Tree CEO Rick Dreiling said on a call with analysts last month.', '“Family Dollar is a victim of the macro environment out there,” he said.', 'But Family Dollar’s woes date back more than a decade.', 'Messy stores, high prices and over-expansion plagued the company, analysts say.', '“It’s no secret that Family Dollar’s challenges stem back much much further,” said Kelly Bania, a retail analyst at BMO Capital Markets. “', 'They have massively underinvested in the store base over the last decade or two.”', 'In 2014, activist investors— includingCarl IcahnandNelson Peltz — pushed Family Dollar to sell itself.', 'A year later, Dollar Tree bought the company.', 'At the time, Dollar Tree was smaller than Family Dollar.', 'While Dollar Tree and Family Dollar share similar names, they have different strategies.', 'Dollar Tree is mostly suburban, and caters to middle-income shoppers with party supplies and knickknacks.', 'It acquired Family Dollar — which sells more basic foods and household essentials — to grow with lower-income customers in urban and rural areas.', 'The combined company hoped that by joining forces it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General, which is located primarily in rural areas.', 'But analysts say the match between the two different chains was a poor fit, and Dollar Tree has struggled to manage the larger Family Dollar store base.', '“When Dollar Tree bought Family Dollar, they didn’t really know what they were doing,” D’Arezzo said. “', 'They didn’t know how to run Family Dollar.”', 'Family Dollar stores were in worse condition than Dollar Tree management expected, and early strategies to improve sales, such as selling beer, fell short.', 'Many Family Dollar stores were located too close to each other and cannibalized each other’s own sales, too, D’Arezzo said.', '“Family Dollar’s sales have been sputtering, hurt by neglected stores, poor product selection and unhappy workers,” The Wall Street Journal reported in 2018.', 'Family Dollar “needs more work than the company originally thought.”', 'A year later, an activist investor pushed for a sale of the “underperforming” Family Dollar business, and Family Dollar announced it would close 390 stores.', 'Even though Family Dollar has renovated thousands of stores in recent years, many stores are still poorly maintained, analysts say.', 'Family Dollar was hit with a record $41.6 million fine by the Justice Department this year for violating product safety standards after selling items that were stocked in a rat-infested warehouse in West Memphis filled with live, dead and decaying rodents.', 'Dollar Tree and Family Dollar executives say Family Dollar can still succeed, however.', 'The retail chain has a new CEO and management team, and it has been lowering its prices to draw more customers, adding more private-label brands and investing in the supply chain.', '“While we are in the early stages of our transformation journey under our new management team, we are proud of the progress we’ve made to date, and see a long runway for growth ahead for our business,” a company spokesperson said.', 'A “well-run and well-located Family Dollar store is a powerful retail force,” CEO Dreiling said.', '99 Cents Only said that it filed for bankruptcy because “the last several years have presented significant and lasting challenges” in retail, including the impact of the pandemic, inflation and rising shoplifting.', 'But 99 Cents Only’s challenges stem back further.', 'The retail chain has not been profitable since 2015.', 'The company has more than 370 stores in California, Nevada, Arizona and Texas — 265 of which are in California.', 'It was taken private in 2011 in a $1.6 billion leveraged buyout, and the company took on even more debt in the following years to stay afloat.', 'At the time of the deal, 99 Cents Only had the second-highest profit margin and the most sales per square foot among its rivals, Bloomberg reported.', 'But 99 Cents Only quickly fell behind.', 'The company introduced a strategy to raise the height of shelves, known as Go Taller, but it led to increases in spoiled food and broken products as merchandise fell to the floor, according to Bloomberg.', 'The company struggled to keep up with larger rivals such as Walmart, Costco and Dollar General, and it lost money every year beginning in 2016. “', 'The increasingly competitive landscape of the discount retail industry continued to take its toll,” 99 Cents Only said in its bankruptcy filing this week.', 'While competitors expanded, 99 Cents Only’s high debt load left it unable to invest to improve stores, its supply chain or digital strategy.', '99 Cents Only was “disadvantaged by limited financial flexibility and inability to devote greater resources to pursue new store growth,” the company said in its filing.', '99 Cents Only was also hurt by its store sizes, which were costly to operate, and its focus on low-margin groceries.', 'The company’s stores are on average approximately 20,000 square feet, more than double the size of a typical dollar store chain.', '“It was like trying to run a McDonald’s on five times the size,” D’Arezzo said. “', 'They were doomed.”']",-0.0805197597084177,"“While we are in the early stages of our transformation journey under our new management team, we are proud of the progress we’ve made to date, and see a long runway for growth ahead for our business,” a company spokesperson said.","“Family Dollar’s sales have been sputtering, hurt by neglected stores, poor product selection and unhappy workers,” The Wall Street Journal reported in 2018.",-0.6120033233593671,"The combined company hoped that by joining forces it could grow its customer base, reduce costs and fend off bigger retailers like Dollar General, which is located primarily in rural areas.","Family Dollar stores were in worse condition than Dollar Tree management expected, and early strategies to improve sales, such as selling beer, fell short.",2024-04-11 -Elon Musk: Tesla boss to visit India for meeting with PM Modi,https://www.bbc.co.uk/news/articles/c4n1ldx5klwo,2024-04-11T05:30:59.021Z,"Elon Musk has announced on his social media platform X, formerly Twitter, that he will visit India to meet Prime Minister Narendra Modi without giving a date. The Tesla boss is expected to announce major investment plans in the country soon. Last month, India cut import taxes on electric vehicles (EV) for global carmakers which commit to investing $500m (£399m) and starting local production within three years. In 2021, the Tesla boss said that India's high import duties had prevented the firm from launching its cars in the world's fastest-growing major economy. Mr Musk wrote in a post on Wednesday: ""Looking forward to meeting with Prime Minister Narendra Modi in India!"" A senior Indian government official told the BBC that the meeting is scheduled for the last week of April and will take place at Mr Modi’s official residence in New Delhi. The BBC understands that Tesla’s plans for starting manufacturing in India will feature in the talks. Tesla did not immediately respond to a BBC request for comment. Mr Musk's visit comes just as the country begins voting in marathon, six-week-long elections on 19 April. Mr Modi's Hindu-nationalist Bharatiya Janata Party (BJP) is widely expected to win a third term in power. A Tesla investment announcement during the election would bolster the business-friendly credentials of Mr Modi, who has courted foreign companies to set up manufacturing operations in India and create jobs. The two men met last June in New York when the technology multi-billionaire said Mr Modi had been ""pushing us to make significant investments in India, which is something that we intend to do"". Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China. Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition. Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen. Tesla's shares have lost almost a third of their value since the start of this year. India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector. ",BBC,11/04/2024,"['Elon Musk has announced on his social media platform X, formerly Twitter, that he will visit India to meet Prime Minister Narendra Modi without giving a date.', 'The Tesla boss is expected to announce major investment plans in the country soon.', 'Last month, India cut import taxes on electric vehicles (EV) for global carmakers which commit to investing $500m (£399m) and starting local production within three years.', ""In 2021, the Tesla boss said that India's high import duties had prevented the firm from launching its cars in the world's fastest-growing major economy."", 'Mr Musk wrote in a post on Wednesday: ""Looking forward to meeting with Prime Minister Narendra Modi in India!""', 'A senior Indian government official told the BBC that the meeting is scheduled for the last week of April and will take place at Mr Modi’s official residence in New Delhi.', 'The BBC understands that Tesla’s plans for starting manufacturing in India will feature in the talks.', 'Tesla did not immediately respond to a BBC request for comment.', ""Mr Musk's visit comes just as the country begins voting in marathon, six-week-long elections on 19 April."", ""Mr Modi's Hindu-nationalist Bharatiya Janata Party (BJP) is widely expected to win a third term in power."", 'A Tesla investment announcement during the election would bolster the business-friendly credentials of Mr Modi, who has courted foreign companies to set up manufacturing operations in India and create jobs.', 'The two men met last June in New York when the technology multi-billionaire said Mr Modi had been ""pushing us to make significant investments in India, which is something that we intend to do"".', ""Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China."", 'Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.', 'Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen.', ""Tesla's shares have lost almost a third of their value since the start of this year."", ""India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector.""]",0.0403476979370383,Mr Modi's Hindu-nationalist Bharatiya Janata Party (BJP) is widely expected to win a third term in power.,Tesla's plans to move into India comes at a time when the company is battling weakening sales in the US and China.,-0.1105813052919175,"India overtook the UK in 2022 to become the world's fifth-largest economy, and grew by 8.4% in the December quarter, helped by a surging manufacturing sector.","Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.",2024-04-11 -Quantum rush: Denver-Boulder area aims to be the Silicon Valley of the future,https://www.cnbc.com/2024/04/09/quantum-rush-denver-boulder-aims-to-be-silicon-valley-of-the-future.html,2024-04-10T13:25:36+0000,"This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.Imagine a world where computers solve problems billions of times faster than today's machines can, ushering in a new era of scientific discovery.That's the promise of quantum technology — and a fierce race is underway to unlock its potential. In the shadow of the Rocky Mountains, the Denver-Boulder region is emerging as a global leader in this revolution.Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem.""The future looks really bright for us here. … We've built two of the largest quantum computers on the planet,"" Hays said in CNBC's primetime special ""Cities of Success: Denver & Boulder,"" which airs April 11 at 10 p.m. ET. ""The fact that we've been able to do that in 18 months is pretty remarkable.""In Denver, Maybell Quantum, another key player in the industry, is building a super refrigerator that chills atoms to extreme temperatures — more than 100,000 times colder than the coldest part of Antarctica.""It's 10 millikelvin,"" said Maybell Quantum CEO Corban Tillemann-Dick. That equates to negative 459.652 degrees Fahrenheit.Why so cold? The frigid conditions are essential for quantum computers to operate. The supercooled environment helps minimize even the tiniest vibrations that can disrupt a quantum chip's delicate subatomic calculations.Just like semiconductors fueled powerful computers and networking devices that made today's complex internet possible, Tillemann-Dick said the next big thing could be quantum technology. ""This technology is going to be as important to the next 100 years as semiconductors [were to] the internet or cellular technology. It'll transform everything from medicine to defense to agriculture,"" he said.The CEO said he envisions data centers filled with rows of quantum computers tackling the world's most pressing problems.""There will come a time not too far in the future … you will walk into a data center and there will be thousands of [quantum computers] lined up just like you have servers today, working on workloads from all over the world to solve these critical problems,"" he said.Physicist Richard Feynman is credited with pioneering the idea of quantum computing in the 1980s. It's come a long way since then. According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States. This designation is part of a program to invest in regions with high potential for growth in key technology sectors.Leading the charge to solidify Colorado's position as a quantum leader is Elevate Quantum Colorado, a private-public consortium of more than 100 organizations including the University of Colorado Boulder and other higher education institutions, state and local governments, federal labs and private companies.""The idea is to create Silicon Valleys where there aren't Silicon Valleys today against the most important technologies of our time,"" said Zachary Yerushalmi, Elevate Quantum Colorado's CEO. Yerushalmi noted that federal designation positions the state to become one of only a handful of quantum hubs nationwide.""We competed against 400 applicants across the nation, and we're fortunate to be selected as one of 31,"" Yerushalmi explained. ""This is where things really get hot … we're competing for $70 million from the federal government.""Only a handful of hubs will be selected to receive the funding — and Yerushalmi says he's optimistic of their chances, expecting a decision later this year.Meanwhile, Colorado Gov. Jared Polis, a firm believer in quantum's potential, is upping the stakes. In February, his administration unveiled plans to invest an additional $74 million into the quantum industry over five to nine years if Colorado is one of the regions selected to receive federal funding.""I'm bullish on quantum tech,"" Polis told CNBC in a recent interview. ""I think its time has come.""TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. ET.Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica. An earlier version of this story misstated the metric.",CNBC,10/04/2024,"[""This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", ""Imagine a world where computers solve problems billions of times faster than today's machines can, ushering in a new era of scientific discovery."", ""That's the promise of quantum technology — and a fierce race is underway to unlock its potential."", 'In the shadow of the Rocky Mountains, the Denver-Boulder region is emerging as a global leader in this revolution.', ""Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem."", '""The future looks really bright for us here. …', 'We\'ve built two of the largest quantum computers on the planet,"" Hays said in CNBC\'s primetime special ""Cities of Success: Denver & Boulder,"" which airs April 11 at 10 p.m. ET. ""', ""The fact that we've been able to do that in 18 months is pretty remarkable."", '""In Denver, Maybell Quantum, another key player in the industry, is building a super refrigerator that chills atoms to extreme temperatures — more than 100,000 times colder than the coldest part of Antarctica.', '""It\'s 10 millikelvin,"" said Maybell Quantum CEO Corban Tillemann-Dick.', 'That equates to negative 459.652 degrees Fahrenheit.', 'Why so cold?', 'The frigid conditions are essential for quantum computers to operate.', ""The supercooled environment helps minimize even the tiniest vibrations that can disrupt a quantum chip's delicate subatomic calculations."", ""Just like semiconductors fueled powerful computers and networking devices that made today's complex internet possible, Tillemann-Dick said the next big thing could be quantum technology."", '""This technology is going to be as important to the next 100 years as semiconductors [were to] the internet or cellular technology.', 'It\'ll transform everything from medicine to defense to agriculture,"" he said.', ""The CEO said he envisions data centers filled with rows of quantum computers tackling the world's most pressing problems."", '""There will come a time not too far in the future … you will walk into a data center and there will be thousands of [quantum computers] lined up just like you have servers today, working on workloads from all over the world to solve these critical problems,"" he said.', 'Physicist Richard Feynman is credited with pioneering the idea of quantum computing in the 1980s.', ""It's come a long way since then."", 'According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.', 'This designation is part of a program to invest in regions with high potential for growth in key technology sectors.', ""Leading the charge to solidify Colorado's position as a quantum leader is Elevate Quantum Colorado, a private-public consortium of more than 100 organizations including the University of Colorado Boulder and other higher education institutions, state and local governments, federal labs and private companies."", '""The idea is to create Silicon Valleys where there aren\'t Silicon Valleys today against the most important technologies of our time,"" said Zachary Yerushalmi, Elevate Quantum Colorado\'s CEO.Yerushalmi noted that federal designation positions the state to become one of only a handful of quantum hubs nationwide.', '""We competed against 400 applicants across the nation, and we\'re fortunate to be selected as one of 31,"" Yerushalmi explained. ""', ""This is where things really get hot … we're competing for $70 million from the federal government."", '""Only a handful of hubs will be selected to receive the funding — and Yerushalmi says he\'s optimistic of their chances, expecting a decision later this year.', ""Meanwhile, Colorado Gov. Jared Polis, a firm believer in quantum's potential, is upping the stakes."", 'In February, his administration unveiled plans to invest an additional $74 million into the quantum industry over five to nine years if Colorado is one of the regions selected to receive federal funding.', '""I\'m bullish on quantum tech,"" Polis told CNBC in a recent interview. ""', 'I think its time has come.', '""TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. ET.Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica.', 'An earlier version of this story misstated the metric.']",0.1755340387361876,"""TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. ET.Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica.","Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem.",0.7769354701042175,"According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.",That equates to negative 459.652 degrees Fahrenheit.,2024-04-11 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-04-11 -GM's Cruise to relaunch vehicles with human drivers in Phoenix,https://www.cnbc.com/2024/04/09/gms-cruise-to-relaunch-vehicles-with-human-drivers-in-phoenix.html,2024-04-09T17:38:49+0000,"In this articleGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways Tuesday for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said.The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.The redeployed vehicles will not operate as they previously did — as robotaxis — but will ""create maps and gather road information in select cities, starting in Phoenix,"" the company said.Cruise said its ""goal is to resume driverless operations,"" however it did not provide a timeline for doing so. It also did not announce a timetable for expanding human-driven vehicles to other cities.""We have not yet made a commitment to where or when we will start supervised or driverless operations,"" a spokesperson said in a statement to CNBC.Still, the company called the relaunched fleet with human drivers ""a critical step for validating our self-driving systems as we work towards returning to our driverless mission.""""In October 2023, we paused operations of our fleet to focus on rebuilding trust with regulators and the communities we serve, and to redesign our approach to safety,"" Cruise said in a blog post. ""We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate. We are committed to this improvement as a continuous effort.""A third-party probe into the October incident and subsequent fallout, which was ordered by GM and Cruise, found culture issues, ineptitude and poor leadership were at the center of regulatory oversights that led to the accident. The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims.Cruise said in January that it ""accepts"" the conclusions found in the report. The San Francisco-based company, of which GM owns about 80%, said it will ""act on all"" recommendations and is ""fully cooperating"" with investigations by state and federal agencies following the Oct. 2 accident.The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market where the majority of its vehicles operated.In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted. The venture also laid off 24% of its workforce as well as a round of contractors.",CNBC,09/04/2024,"[""In this articleGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways Tuesday for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said."", 'The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.', 'The redeployed vehicles will not operate as they previously did — as robotaxis — but will ""create maps and gather road information in select cities, starting in Phoenix,"" the company said.', 'Cruise said its ""goal is to resume driverless operations,"" however it did not provide a timeline for doing so.', 'It also did not announce a timetable for expanding human-driven vehicles to other cities.', '""We have not yet made a commitment to where or when we will start supervised or driverless operations,"" a spokesperson said in a statement to CNBC.Still, the company called the relaunched fleet with human drivers ""a critical step for validating our self-driving systems as we work towards returning to our driverless mission.', '""""In October 2023, we paused operations of our fleet to focus on rebuilding trust with regulators and the communities we serve, and to redesign our approach to safety,"" Cruise said in a blog post. ""', ""We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate."", 'We are committed to this improvement as a continuous effort.', '""A third-party probe into the October incident and subsequent fallout, which was ordered by GM and Cruise, found culture issues, ineptitude and poor leadership were at the center of regulatory oversightsthat led to the accident.', 'The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims.', 'Cruise said in January that it ""accepts"" the conclusions found in the report.', 'The San Francisco-based company,of which GM owns about 80%, said it will ""act on all"" recommendations and is ""fully cooperating"" with investigations by state and federal agencies following the Oct. 2 accident.', 'The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.', 'Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market where the majority of its vehicles operated.', 'In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted.', 'The venture alsolaid off 24% of its workforce as well as a round of contractors.']",0.1384270886543398,"The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.",The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.,0.1824014902114868,"We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate.","In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted.",2024-04-11 -The Fed might not be done raising interest rates just yet,https://edition.cnn.com/2024/04/11/economy/fed-interest-rate-hike-probability/index.html," - Published - 2:02 PM EDT, Thu April 11, 2024 - ","Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates. But stubborn inflation now has some investors wondering about the exact opposite: a rate hike. - - Inflation slowed substantially in 2023 as the Fed lifted rates to nearly a quarter-century high and held them at that level since July. But recent economic data shows there hasn’t been much improvement this year. - - Then came March’s Consumer Price Index report, which showed prices rose 3.5% last month from a year earlier, up considerably from February’s 3.2% and higher than economists’ expectations. That also marked the highest reading in half a year. - - Surging gas prices and still-high housing costs drove the hotter-than-expected reading. The report spooked Wall Street, triggering a mass selloff on Wednesday and reducing the odds of a June rate cut, according to futures. - - Still, most Fed officials have signaled that they plan to cut rates this year if the economy evolves as expected. But disappointing inflation readings like Wednesday’s are likely giving them pause. And if the inflation situation worsens even further, the Fed may even have to consider raising rates. - - Fed Governor Michelle Bowman, arguably the central bank’s most hawkish voice, recently said that she would favor a rate hike “should progress on inflation stall or even reverse.” - - Minneapolis Fed President Neel Kashkari last week floated the possibility of not cutting rates at all this year. He also said rate hikes are “certainly not off the table.” But he said they aren’t likely. Kashkari is not voting on monetary policy decisions this year. - - Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook. But he said he’s not even remotely considering a rate increase at the moment. - - “I don’t see any signs that we’re not having the desired restricted effect on demand that’s helping us achieve our goals,” Williams said in response to a question posed by CNN at a Thursday discussion with reporters. There are “definitely circumstances” that would merit raising interest rates, he added, such as inflation moving materially higher, but the current trajectory doesn’t fit that, he said. - - Williams, a top adviser to Fed Chair Jerome Powell, still believes it will be appropriate to cut rates later this year, but declined to specify the quantity and timing. - - Boston Fed President Susan Collins said Thursday: “Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience — recognizing that disinflation may continue to be uneven,” - - Last month’s shockingly strong job report — the economy added 303,000 jobs in March, blowing past expectations of 205,000 positions added — is more of a reason for the central bank to be patient with cutting rates, she said, adding that it may mean fewer cuts this year “than previously thought may be warranted.” Collins, who isn’t voting on policy decisions this year, said at the end of last year, when CPI was lower than it is currently, that more rate hikes weren’t off the table. - - Powell, meanwhile, hasn’t recently addressed the potential need to raise interest rates. He said last month that the hotter-than-expected inflation reports for the beginning of the year might have been due to “seasonal factors.” - - But not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to meeting minutes released Wednesday. - - For now, officials generally expect to cut rates at some point this year. Officials’ latest economic projections show that they mostly expect to cut rates this year, though they were split on how aggressive the cutting should be, with 10 expecting three or more quarter-point cuts and nine estimating two or fewer. - - Former Treasury Secretary Larry Summers said Wednesday the March CPI report raises the odds that the Fed will hike rates. - - “You have to take seriously the possibility that the next rate move will be upwards rather than downwards,” Summers said in a Bloomberg TV interview Wednesday. - - Summers was one of a handful of economists who correctly argued back in 2021 that inflation wasn’t transitory, as Fed officials had categorized it, and rather was more widespread and would prove to not be temporary. - - Since Wednesday’s CPI report, economists from major banks including UBS, Barclays, Goldman Sachs and Bank of America have all pushed back their forecasts as to the timing of the first rate cut. - - Bank of America economists, for instance, are now predicting only one rate cut this year, in December. Previously they called for as many as four, with the first coming as soon as March. - - “2024 is starting to look like 2015, but in reverse. Then the Fed signaled hikes it could not deliver; now the Fed may be signaling cuts that the inflation data do not justify,” they said in a note Thursday. - - The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level. If the central bank cuts too late, it could unnecessarily damage the economy. That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled.",CNN,11/04/2024,"['Interest rate cuts have been the main focus for Wall Street ever since the end of last year, when Federal Reserve officials indicated they intended to lower rates.', 'But stubborn inflation now has some investors wondering about the exact opposite: a rate hike.', 'Inflation slowed substantially in 2023 as the Fed lifted rates to nearly a quarter-century high and held them at that level since July.', 'But recent economic data shows there hasn’t been much improvement this year.', 'Then came March’s Consumer Price Index report, which showed prices rose 3.5% last month from a year earlier, up considerably from February’s 3.2% and higher than economists’ expectations.', 'That also marked the highest reading in half a year.', 'Surging gas prices and still-high housing costs drove the hotter-than-expected reading.', 'The report spooked Wall Street, triggering a mass selloff on Wednesday and reducing the odds of a June rate cut, according to futures.', 'Still, most Fed officials have signaled that they plan to cut rates this year if the economy evolves as expected.', 'But disappointing inflation readings like Wednesday’s are likely giving them pause.', 'And if the inflation situation worsens even further, the Fed may even have to consider raising rates.', 'Fed Governor Michelle Bowman, arguably the central bank’s most hawkish voice, recently said that she would favor a rate hike “should progress on inflation stall or even reverse.”', 'Minneapolis Fed President Neel Kashkari last week floated the possibility of not cutting rates at all this year.', 'He also said rate hikes are “certainly not off the table.”', 'But he said they aren’t likely.', 'Kashkari is not voting on monetary policy decisions this year.', 'Like Bowman and Kashkari, New York Fed President John Williams said rate hikes aren’t part of his baseline outlook.', 'But he said he’s not even remotely considering a rate increase at the moment.', '“I don’t see any signs that we’re not having the desired restricted effect on demand that’s helping us achieve our goals,” Williams said in response to a question posed by CNN at a Thursday discussion with reporters.', 'There are “definitely circumstances” that would merit raising interest rates, he added, such as inflation moving materially higher, but the current trajectory doesn’t fit that, he said.', 'Williams, a top adviser to Fed Chair Jerome Powell, still believes it will be appropriate to cut rates later this year, but declined to specify the quantity and timing.', 'Boston Fed President Susan Collins said Thursday: “Overall, the recent data have not materially changed my outlook, but they do highlight uncertainties related to timing, and the need for patience — recognizing that disinflation may continue to be uneven,” Last month’s shockingly strong job report — the economy added 303,000 jobs in March, blowing past expectations of 205,000 positions added — is more of a reason for the central bank to be patient with cutting rates, she said, adding that it may mean fewer cuts this year “than previously thought may be warranted.”', 'Collins, who isn’t voting on policy decisions this year, said at the end of last year, when CPI was lower than it is currently, that more rate hikes weren’t off the table.', 'Powell, meanwhile, hasn’t recently addressed the potential need to raise interest rates.', 'He said last month that the hotter-than-expected inflation reports for the beginning of the year might have been due to “seasonal factors.”', 'But not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to meeting minutes released Wednesday.', 'For now, officials generally expect to cut rates at some point this year.', 'Officials’ latest economic projections show that they mostly expect to cut rates this year, though they were split on how aggressive the cutting should be, with 10 expecting three or more quarter-point cuts and nine estimating two or fewer.', 'Former Treasury Secretary Larry Summers said Wednesday the March CPI report raises the odds that the Fed will hike rates.', '“You have to take seriously the possibility that the next rate move will be upwards rather than downwards,” Summers said in a Bloomberg TV interview Wednesday.', 'Summers was one of a handful of economists who correctly argued back in 2021 that inflation wasn’t transitory, as Fed officials had categorized it, and rather was more widespread and would prove to not be temporary.', 'Since Wednesday’s CPI report, economists from major banks including UBS, Barclays, Goldman Sachs and Bank of America have all pushed back their forecasts as to the timing of the first rate cut.', 'Bank of America economists, for instance, are now predicting only one rate cut this year, in December.', 'Previously they called for as many as four, with the first coming as soon as March.', '“2024 is starting to look like 2015, but in reverse.', 'Then the Fed signaled hikes it could not deliver; now the Fed may be signaling cuts that the inflation datado not justify,” they said in a note Thursday.', 'The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level.', 'If the central bank cuts too late, it could unnecessarily damage the economy.', 'That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled.']",-0.0485194295901481,"There are “definitely circumstances” that would merit raising interest rates, he added, such as inflation moving materially higher, but the current trajectory doesn’t fit that, he said.","The timing of that first rate cut is critical because if the Fed cuts too soon, it risks locking in inflation at a high level.",-0.2453144067212155,That also marked the highest reading in half a year.,But disappointing inflation readings like Wednesday’s are likely giving them pause.,2024-04-11 -"Some Fed officials worry inflation remains stubbornly high, minutes show",https://edition.cnn.com/2024/04/10/economy/fed-minutes-march-meeting-inflation-high/index.html," - Published - 2:40 PM EDT, Wed April 10, 2024 - ","Federal Reserve officials said during their March policymaking meeting that inflation will likely continue to slow this year, according to minutes released Wednesday, but some still fretted over the possibility that inflation could remain stubbornly high. - - Those fears have now worsened, at least on Wall Street, which means that interest rates could remain higher for longer if prices don’t budge. - - While Fed officials “observed that significant progress had been made over the past year” despite disappointing inflation readings for January and February, some also “noted that the recent increases in inflation had been relatively broad based,” the minutes said. - - The Fed kept its key interest rate at a two-decade high for the fifth straight meeting last month, at a range of 5.25-5.5%. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal. - - But Wednesday’s Consumer Price Index report suggests that getting to that goal will continue to be a turbulent ride. - - Consumer prices rose 3.5% in March from a year earlier, up considerably from February’s 3.2% and higher than the 3.4% economists were excepting. On a monthly basis, consumer prices jumped 0.4% in March, also above expectations. Surging gas prices and sky-high mortgages and rent were the culprits behind the hotter-than-expected reading. - - Stocks tanked on Wednesday after the report was released as bond yields shot up. The odds that the first rate cut will come in June also dropped after CPI was released, according to futures. Goldman Sachs pushed back its call for the first rate cut to July from June and Bank of America is now projecting a June rate cut with “low confidence.” - - “The likelihood of a June Fed rate cut declined materially today,” Ronald Temple, chief market strategist at Lazard, said in a note Wednesday. “Three months of surprisingly strong services inflation are difficult to explain away and suggest that demand strength could be sustaining elevated US inflation, which limits the Fed’s ability to ease policy.” - - According to the Fed minutes, officials generally noted that “they continued to expect that inflation would return to 2 percent over the medium term.” Economists have been expecting slowing rent growth to filter through to inflation gauges. Powell said it is only a matter of time until it happens, but that hasn’t happened yet. Insurance costs have also been pushing up inflation. - - Last year, inflation slowed considerably thanks to improving supply-side conditions, such as a bigger workforce due to immigration, and more efficient supply chains. It remains to be seen whether the supply side will continue to drag inflation lower this year or if weakening consumer demand and potentially rising unemployment will play more of a role. - - The timing of that first rate cut remains a key issue for the Fed because there are economic consequences if the central bank cuts too soon — or if it cuts too late. That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled. But time is of the essence since it’s already been three months of surprising inflation growth. - - Powell frequently says that the road down to 2% will likely be a bumpy one, and it has been. The Fed chief said last month that the disappointing inflation readings for the beginning of the year might have been due to “seasonal factors,” but not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to the minutes.",CNN,10/04/2024,"['Federal Reserve officials said during their March policymaking meeting that inflation will likely continue to slow this year, according to minutes released Wednesday, but some still fretted over the possibility that inflation could remain stubbornly high.', 'Those fears have now worsened, at leaston Wall Street, which means that interest rates could remain higher for longer if prices don’t budge.', 'While Fed officials “observed that significant progress had been made over the past year” despite disappointing inflation readings for January and February, some also “noted that the recent increases in inflation had been relatively broad based,” the minutes said.', 'The Fed kept its key interest rate at a two-decade highfor the fifth straight meetinglast month, at a range of 5.25-5.5%.', 'Fed Chair Jerome Powell has said that policymakers want to seemore evidencethat inflation is headed toward their 2% goal.', 'But Wednesday’s Consumer Price Index report suggests that getting to that goal will continue to be a turbulent ride.', 'Consumer pricesrose 3.5% in March from a year earlier, up considerably from February’s 3.2% and higher than the 3.4% economists were excepting.', 'On a monthly basis, consumer prices jumped 0.4% in March, also above expectations.', 'Surging gas prices and sky-high mortgages and rent were the culprits behind the hotter-than-expected reading.', 'Stocks tanked on Wednesday after the report was released as bond yields shot up.', 'The odds that the first rate cut will come in June also dropped after CPI was released, according to futures.', 'Goldman Sachs pushed back its call for the first rate cut to July from June and Bank of America is now projecting a June rate cut with “low confidence.”', '“The likelihood of a June Fed rate cut declined materially today,” Ronald Temple, chief market strategist at Lazard, said in a note Wednesday. “', 'Three months of surprisingly strong services inflation are difficult to explain away and suggest that demand strength could be sustaining elevated US inflation, which limits the Fed’s ability to ease policy.”', 'According to the Fed minutes, officials generally noted that “they continued to expect that inflation would return to 2 percent over the medium term.”', 'Economists have been expecting slowing rent growth to filter through to inflation gauges.', 'Powell said it is only a matter of time until it happens, but that hasn’t happened yet.', 'Insurance costs have also been pushing up inflation.', 'Last year, inflation slowed considerably thanks to improving supply-side conditions, such as a bigger workforce due to immigration, and more efficient supply chains.', 'It remains to be seen whether the supply side will continue to drag inflation lower this year or if weakening consumer demand and potentially rising unemployment will play more of a role.', 'The timing of that first rate cut remains a key issue for the Fed because there are economic consequences if the central bank cuts too soon — or if it cuts too late.', 'That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled.', 'But time is of the essence since it’s already been three months of surprising inflation growth.', 'Powell frequently says that the road down to 2% will likely be a bumpy one, and it has been.', 'The Fed chief said last month that the disappointing inflation readings for the beginning of the year might have been due to “seasonal factors,” but not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to the minutes.']",0.0412084692362285,"Three months of surprisingly strong services inflation are difficult to explain away and suggest that demand strength could be sustaining elevated US inflation, which limits the Fed’s ability to ease policy.”",It remains to be seen whether the supply side will continue to drag inflation lower this year or if weakening consumer demand and potentially rising unemployment will play more of a role.,-0.2583298656073483,"On a monthly basis, consumer prices jumped 0.4% in March, also above expectations.","“The likelihood of a June Fed rate cut declined materially today,” Ronald Temple, chief market strategist at Lazard, said in a note Wednesday. “",2024-04-11 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-04-11 -What to expect from bank earnings as high interest rates pressure smaller players,https://www.cnbc.com/2024/04/11/bank-earnings-high-interest-rates-set-to-pressure-small-players.html,2024-04-11T18:25:51+0000,"In this articleThe benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday.Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones. That trend is set to continue, especially as expectations for the magnitude of Federal Reserve interest rates cuts have fallen sharply since the start of the year.The evolving picture on interest rates — dubbed ""higher for longer"" as expectations for rate cuts this year shift from six reductions to perhaps three – will boost revenue for big banks while squeezing many smaller ones, adding to concerns for the group, according to analysts and investors.JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week. On Monday, M&T Bank posts results, one of the first regional lenders to report this period.The focus for all of them will be how the shifting view on interest rates will impact funding costs and holdings of commercial real estate loans.""There's a handful of banks that have done a very good job managing the rate cycle, and there's been a lot of banks that have mismanaged it,"" said Christopher McGratty, head of U.S. bank research at KBW.Take, for instance, Valley Bank, a regional lender based in Wayne, New Jersey. Guidance the bank gave in January included expectations for seven rate cuts this year, which would've allowed it to pay lower rates to depositors.Instead, the bank might be forced to slash its outlook for net interest income as cuts don't materialize, according to Morgan Stanley analyst Manan Gosalia, who has the equivalent of a sell rating on the firm.Net interest income is the money generated by a bank's loans and securities, minus what it pays for deposits.Smaller banks have been forced to pay up for deposits more so than larger ones, which are perceived to be safer, in the aftermath of the Silicon Valley Bank failure last year. Rate cuts would've provided some relief for smaller banks, while also helping commercial real estate borrowers and their lenders.Valley Bank faces ""more deposit pricing pressure than peers if rates stay higher for longer"" and has more commercial real estate exposure than other regionals, Gosalia said in an April 4 note.Meanwhile, for large banks like JPMorgan, higher rates generally mean they can exploit their funding advantages for longer. They enjoy the benefits of reaping higher interest for things like credit card loans and investments made during a time of elevated rates, while generally paying low rates for deposits.JPMorgan could raise its 2024 guidance for net interest income by an estimated $2 billion to $3 billion, to $93 billion, according to UBS analyst Erika Najarian.Large U.S. banks also tend to have more diverse revenue streams than smaller ones from areas like wealth management and investment banking. Both should provide boosts to first-quarter results, thanks to buoyant markets and a rebound in Wall Street activity.Furthermore, big banks tend to have much lower exposure to commercial real estate compared with smaller players, and have generally higher levels of provisions for loan losses, thanks to tougher regulations on the group.That difference could prove critical this earnings season.Concerns over commercial real estate, especially office buildings and multifamily dwellings, have dogged smaller banks since New York Community Bank stunned investors in January with its disclosures of drastically larger loan provisions and broader operational challenges. The bank needed a $1 billion-plus lifeline last month to help steady the firm.NYCB will likely have to cut its net interest income guidance because of shrinking deposits and margins, according to JPMorgan analyst Steven Alexopoulos.There is a record $929 billion in commercial real estate loans coming due this year, and roughly one-third of the loans are for more money than the underlying property values, according to advisory firm Newmark.""I don't think we're out of the woods in terms of commercial real estate rearing its ugly head for bank earnings, especially if rates stay higher for longer,"" said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.""If there's even a whiff of problems around the credit experience with your commercial lending operation, as was the case with NYCB, you've seen how quickly that can get away from you,"" he said.",CNBC,11/04/2024,"['In this articleThe benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday.', ""Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones."", 'That trend is set to continue, especially as expectations for the magnitude of Federal Reserve interest rates cuts have fallen sharply since the start of the year.', 'The evolving picture on interest rates — dubbed ""higher for longer"" as expectations for rate cuts this year shift from six reductions to perhaps three – will boost revenue for big banks while squeezing many smaller ones, adding to concerns for the group, according to analysts and investors.', ""JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week."", 'On Monday, M&T Bank posts results, one of the first regional lenders to report this period.', 'The focus for all of them will be how the shifting view on interest rates will impact funding costs and holdings of commercial real estate loans.', '""There\'s a handful of banks that have done a very good job managing the rate cycle, and there\'s been a lot of banks that have mismanaged it,"" said Christopher McGratty, head of U.S. bank research at KBW.Take, for instance, Valley Bank, a regional lender based in Wayne, New Jersey.', ""Guidance the bank gave in January included expectations for seven rate cuts this year, which would've allowed it to pay lower rates to depositors."", ""Instead, the bank might be forced to slash its outlook for net interest income as cuts don't materialize, according to Morgan Stanley analyst Manan Gosalia, who has the equivalent of a sell rating on the firm."", ""Net interest income is the money generated by a bank's loans and securities, minus what it pays for deposits."", 'Smaller banks have been forced to pay up for deposits more so than larger ones, which are perceived to be safer, in the aftermath of the Silicon Valley Bank failure last year.', ""Rate cuts would've provided some relief for smaller banks, while also helping commercial real estate borrowers and their lenders."", 'Valley Bank faces ""more deposit pricing pressure than peers if rates stay higher for longer"" and has more commercial real estate exposure than other regionals, Gosalia said in an April 4 note.', 'Meanwhile, for large banks like JPMorgan, higher rates generally mean they can exploit their funding advantages for longer.', 'They enjoy the benefits of reaping higher interest for things like credit card loans and investments made during a time of elevated rates, while generally paying low rates for deposits.', 'JPMorgan could raise its 2024 guidance for net interest income by an estimated $2 billion to $3 billion, to $93 billion, according to UBS analyst Erika Najarian.', 'Large U.S. banks also tend to have more diverse revenue streams than smaller ones from areas like wealth management and investment banking.', 'Both should provide boosts to first-quarter results, thanks to buoyant markets and a rebound in Wall Street activity.', 'Furthermore, big banks tend to have much lower exposure to commercial real estate compared with smaller players, and have generally higher levels of provisions for loan losses, thanks to tougher regulations on the group.', 'That difference could prove critical this earnings season.', 'Concerns over commercial real estate, especially office buildings and multifamily dwellings, have dogged smaller banks since New York Community Bank stunned investors in January with its disclosures of drastically larger loan provisions and broader operational challenges.', 'The bank needed a $1 billion-plus lifeline last month to help steady the firm.', 'NYCB will likely have to cut its net interest income guidance because of shrinking deposits and margins, according to JPMorgan analyst Steven Alexopoulos.', 'There is a record $929 billion in commercial real estate loans coming due this year, and roughly one-third of the loans are for more money than the underlying property values, according to advisory firm Newmark.', '""I don\'t think we\'re out of the woods in terms of commercial real estate rearing its ugly head for bank earnings, especially if rates stay higher for longer,"" said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.', '""If there\'s even a whiff of problems around the credit experience with your commercial lending operation, as was the case with NYCB, you\'ve seen how quickly that can get away from you,"" he said.']",0.1279489506133157,"They enjoy the benefits of reaping higher interest for things like credit card loans and investments made during a time of elevated rates, while generally paying low rates for deposits.","Ever since the chaos of last year's regional banking crisis that consumed three institutions, larger banks have mostly fared better than smaller ones.",0.2527938265549509,"JPMorgan could raise its 2024 guidance for net interest income by an estimated $2 billion to $3 billion, to $93 billion, according to UBS analyst Erika Najarian.","Concerns over commercial real estate, especially office buildings and multifamily dwellings, have dogged smaller banks since New York Community Bank stunned investors in January with its disclosures of drastically larger loan provisions and broader operational challenges.",2024-04-11 -Commercial featuring nuns taking potato chips for communion sparks outrage in Italy,https://edition.cnn.com/2024/04/10/business/chip-commercial-nuns-italy-scli-intl/index.html," - Updated - 12:02 PM EDT, Wed April 10, 2024 - ","A potato chip commercial that features nuns receiving the crispy snacks for communion is “blasphemy” and should be taken off the air, according to an Italian Catholic organization. - - The spot by Amica Chips features doe-eyed young nuns inside a convent delighting that their communion wafer, known as the host, is actually a potato chip. - - A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle. - - Catholics believe the communion wafer represents the body and blood of Christ. - - Giovanni Baggio, the head of AIART, a Catholic group that monitors Italian radio and television, called the ad “blasphemy.” - - In a statement, Baggio said the 30-second commercial was “outrageous” and that it “offends the sensitivity of millions of practicing Catholics by trivializing the comparison between the potato chip and the consecrated object.” - - The Catholic newspaper Avvenire also criticized the ad in an editorial: “Christ has been reduced to a potato chip. Debased and vilified like 2,000 years ago.” - - Amid the backlash, Italy’s advertising standards authority, the IAP, announced an order for the commercial to be taken off air. Amica Chips has seven days to appeal the decision, during which time broadcasts will continue. The order does not apply to online placements. - - Social media users also reacted in horror to the ad. - - “This is blasphemy! Respect Our Lord Jesus in the Holy Eucharist!” wrote one Instagram user. - - Another said: “You don’t play with God. To my Italian friends, I suggest a total boycott of this company.” - - One user said Amica Chips had “offended all the Catholics of the world,” and another accused the company of “a very serious lack of respect.” - - Amica Chips did not reply to a request for comment.",CNN,10/04/2024,"['A potato chip commercial that features nuns receiving the crispy snacks for communion is “blasphemy” and should be taken off the air, according to an Italian Catholic organization.', 'The spot by Amica Chips features doe-eyed young nuns inside a convent delighting that their communion wafer, known as the host, is actually a potato chip.', 'A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle.', 'Catholics believe the communion wafer represents the body and blood of Christ.', 'Giovanni Baggio, the head of AIART, a Catholic group that monitors Italian radio and television, called the ad “blasphemy.”', 'In a statement, Baggio said the 30-second commercial was “outrageous” and that it “offends the sensitivity of millions of practicing Catholics by trivializing the comparison between the potato chip and the consecrated object.”', 'The Catholic newspaper Avvenire also criticized the ad in an editorial: “Christ has been reduced to a potato chip.', 'Debased and vilified like 2,000 years ago.”', 'Amid the backlash, Italy’s advertising standards authority, the IAP, announced an order for the commercial to be taken off air.', 'Amica Chips has seven days to appeal the decision, during which time broadcasts will continue.', 'The order does not apply to online placements.', 'Social media users also reacted in horror to the ad.', '“This is blasphemy!', 'Respect Our Lord Jesus in the Holy Eucharist!”', 'wrote oneInstagram user.', 'Another said: “You don’t play with God.', 'To my Italian friends, I suggest a total boycott of this company.”', 'One user said Amica Chips had “offended all the Catholics of the world,” and another accused the company of “a very serious lack of respect.”', 'Amica Chips did not reply to a request for comment.']",0.0293129612790484,"A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle.","In a statement, Baggio said the 30-second commercial was “outrageous” and that it “offends the sensitivity of millions of practicing Catholics by trivializing the comparison between the potato chip and the consecrated object.”",-0.7933283547560374,,"One user said Amica Chips had “offended all the Catholics of the world,” and another accused the company of “a very serious lack of respect.”",2024-04-11 -ADL gives Harvard and a dozen other universities failing grades on campus antisemitism,https://edition.cnn.com/2024/04/11/business/adl-antisemitism-report-card/index.html," - Updated - 11:56 AM EDT, Thu April 11, 2024 - ","The Anti-Defamation League has graded 85 American universities for their policies to protect Jewish students from antisemitism on campus. It gave Harvard and 12 other schools an “F.” Just two schools got an “A.” - - Reports of antisemitism on college campuses across the United States have surged after Hamas’ October 7, 2023, terror attack on Israel and the country’s devastating response. The ADL said antisemitic incidents on campus have reached historic levels, leaving Jewish students feeling unsafe. - - “As I travel the country, I’m constantly hearing from Jewish families agonizing over where they will send their kids to college,” said ADL CEO Jonathan Greenblatt, in a statement. “School leadership must make serious changes to support Jewish communities on their campus; we expect nothing less.” - - The ADL reviewed dozens of America’s top liberal arts colleges and those with the highest proportion of Jewish students. The organization provided each school with a questionnaire, and it received responses from 84% of the campuses it assessed. The ADL also considered other public information, including pending federal investigations related to Title VI of the Civil Rights Act, which prevents discrimination based on religion, race and sex. - - Since October 7, the Education Department has launched an unprecedented number of Title VI investigations into colleges, including Harvard, the University of Pennsylvania, Cornell University and Stanford, among others. - - The dozen schools that received failing grades from the ADL include Harvard, MIT, Stanford, University of Chicago, Princeton, University of Virginia, Tufts, Michigan State University, University of Massachusetts Amherst, University of North Carolina Chapel Hill, SUNY Purchase, SUNY Rockland, and Swarthmore. - - Harvard in particular has become the focus of national attention for incidents of antisemitism. - - In the days following the Hamas attack, a coalition of Harvard student groups released a joint statement holding Israel responsible for the attack – a statement that some of the groups’ members later disavowed. The statement drew widespread outrage and led a number of prominent donors to pull their funds or lambast the university’s administration. - - Since then, a slew of incidents have taken place on campus, including vandalized Israeli hostage posters and an antisemitic cartoon shared on Instagram accounts belonging to the Harvard Faculty & Staff for Justice in Palestine group, the Harvard Undergraduate Palestine Solidarity Committee and the African American Resistance Organization (the groups later apologized). - - In December, former President Claudine Gay, along with two other university presidents, testified before the House Education Committee and struggled to say whether calls for Jewish genocide on campus would break the school’s rules. Gay later apologized and clarified that advocating for genocide of Jews would violate Harvard’s rules. - - But the fallout was swift and severe, sending Harvard’s administration – and its efforts to combat antisemitism – into turmoil. Rabbi David Wolpe, a visiting scholar at Harvard’s Divinity School, announced his resignation from his role on Harvard’s Antisemitism Advisory Group shortly after her testimony, and Gay resigned in January. - - When Interim President Alan Garber announced a presidential task force on antisemitism, he tapped Harvard Business School professor Raffaella Sadun and Harvard professor Derek Penslar to co-chair it. Within days, Penslar’s selection sparked a backlash, with some critics including famed economist and former university president Larry Summers raising concerns about his background and previous positions. Sadun stepped down after a month at the helm. - - Harvard remains under federal investigation for potential Title VI violations, and several Jewish students have sued Harvard for failing to protect them from antisemitism. Jews make up 10% of the undergraduate student population and 53% of Harvard’s graduate student body. - - In response, Harvard referred CNN to its response to a congressional investigation submitted a month ago. The university said it has taken action to combat antisemitism by supporting students’ safety and promoting civil discourse, updating its policies and reporting procedures and reaching out to the Jewish community. - - MIT and Stanford, which also received “F” grades, similarly have been the subject of national scrutiny for repeated incidents of antisemitism and administrators’ lack of ability to control them. Three other schools that have also gained national attention for antisemitic acts on campus – Columbia, Rutgers and the University of Pennsylvania – received “D” grades. - - Only two universities received “A” grades: Brandeis and Elon. - - The ADL noted that Brandeis was the first private university to revoke its recognition of the Students for Justice in Palestine chapter, and the student union issued a statement condemning Hamas. Brandeis partnered with the Foundation to Combat Antisemitism and classified the phrase “From the river to the sea” as hate speech. Critics of the phrase say the rallying cry advocates for the genocide of Jews. - - Jews make up 35% of Brandeis’ student body, one of the nation’s largest Jewish populations on campus. Brandeis was established as a nonsectarian school but it was founded with support from the Jewish community, and it was named after former Supreme Court Justice Louis Brandeis, the highest court’s first Jewish member. - - The ADL also praised Elon University for providing opportunities for the student body and faculty to learn about Hamas’ attack and encouraged dialogue. - - In addition to the two “A” grades and 13 “F’s,” the ADL said 17 schools got a “B,” 29 received a “C,” and it handed out 24 “D” grades. - - “Every campus should get an A – that’s not grade inflation, that’s the minimum that every group on every campus expects,” said Greenblatt in a statement. “Like all students, Jewish students deserve to feel safe and supported on campus.” - - Hamas’ October 7, 2023, attack on Israel left 1,200 dead, and hundreds of Israelis were taken hostage. Israel’s devastating response to the attack has left more than 30,000 dead in Gaza.",CNN,11/04/2024,"['The Anti-Defamation League has graded 85 American universities for their policies to protect Jewish students from antisemitism on campus.', 'It gave Harvard and 12 other schools an “F.” Just two schools got an “A.” Reports of antisemitism on college campuses across the United States have surged after Hamas’ October 7, 2023, terror attack on Israel and the country’s devastating response.', 'The ADL said antisemitic incidents on campus have reached historic levels, leaving Jewish students feeling unsafe.', '“As I travel the country, I’m constantly hearing from Jewish families agonizing over where they will send their kids to college,” said ADL CEO Jonathan Greenblatt, in a statement. “', 'School leadership must make serious changes to support Jewish communities on their campus; we expect nothing less.”', 'The ADL reviewed dozens of America’s top liberal arts colleges and those with the highest proportion of Jewish students.', 'The organization provided each school with a questionnaire, and it received responses from 84% of the campuses it assessed.', 'The ADL also considered other public information, including pending federal investigations related to Title VI of the Civil Rights Act, which prevents discrimination based on religion, race and sex.', 'Since October 7, the Education Department haslaunched an unprecedented numberof Title VI investigations into colleges, including Harvard, the University of Pennsylvania, Cornell University andStanford, among others.', 'The dozen schools that received failing grades from the ADL include Harvard, MIT, Stanford, University of Chicago, Princeton, University of Virginia, Tufts, Michigan State University, University of Massachusetts Amherst, University of North Carolina Chapel Hill, SUNY Purchase, SUNY Rockland, and Swarthmore.', 'Harvard in particular has become the focus of national attention for incidents of antisemitism.', 'In the days following the Hamas attack, a coalition of Harvard student groups released a joint statement holding Israel responsible for the attack – a statement that some of the groups’ members later disavowed.', 'The statement drew widespread outrage and led a number of prominent donors to pull their funds or lambast the university’s administration.', 'Since then, a slew of incidents have taken place on campus, including vandalized Israeli hostage posters and an antisemitic cartoon shared on Instagram accounts belonging to the Harvard Faculty & Staff for Justice in Palestine group, the Harvard Undergraduate Palestine Solidarity Committee and the African American Resistance Organization (the groups later apologized).', 'In December, former President Claudine Gay, along with two other university presidents, testified before the House Education Committee and struggled to say whether calls for Jewish genocide on campus would break the school’s rules.', 'Gay later apologized and clarified that advocating for genocide of Jews would violate Harvard’s rules.', 'But the fallout was swift and severe, sending Harvard’s administration – and its efforts to combat antisemitism – into turmoil.', 'Rabbi David Wolpe, a visiting scholar at Harvard’s Divinity School,announced his resignationfrom his role on Harvard’s Antisemitism Advisory Group shortly after her testimony, and Gay resigned in January.', 'When Interim President Alan Garberannounceda presidential task force on antisemitism, he tapped Harvard Business School professor Raffaella Sadun and Harvard professor Derek Penslar to co-chair it.', 'Within days, Penslar’s selection sparked a backlash, with somecritics including famed economist and former university president Larry Summersraising concerns about his background and previous positions.', 'Sadun stepped down after a month at the helm.', 'Harvard remains under federal investigation for potential Title VI violations, and several Jewish students have sued Harvard for failing to protect them from antisemitism.', 'Jews make up 10% of the undergraduate student population and 53% of Harvard’s graduate student body.', 'In response, Harvard referred CNN to its response to a congressional investigation submitted a month ago.', 'The university said it has taken action to combat antisemitism by supporting students’ safety and promoting civil discourse, updating its policies and reporting procedures and reaching out to the Jewish community.', 'MIT and Stanford, which also received “F” grades, similarly have been the subject of national scrutiny for repeated incidents of antisemitism and administrators’ lack of ability to control them.', 'Three other schools that have also gained national attention for antisemitic acts on campus – Columbia, Rutgers and the University of Pennsylvania – received “D” grades.', 'Only two universities received “A” grades: Brandeis and Elon.', 'The ADL noted that Brandeis was the first private university to revoke its recognition of the Students for Justice in Palestine chapter, and the student union issued a statement condemning Hamas.', 'Brandeis partnered with the Foundation to Combat Antisemitism and classified the phrase “From the river to the sea” as hate speech.', 'Critics of the phrase say the rallying cry advocates for the genocide of Jews.', 'Jews make up 35% of Brandeis’ student body, one of the nation’s largest Jewish populations on campus.', 'Brandeis was established as a nonsectarian school but it was founded with support from the Jewish community, and it was named after former Supreme Court Justice Louis Brandeis, the highest court’s first Jewish member.', 'The ADL also praised Elon University for providing opportunities for the student body and faculty to learn about Hamas’ attack and encouraged dialogue.', 'In addition to the two “A” grades and 13 “F’s,” the ADL said 17 schools got a “B,” 29 received a “C,” and it handed out 24 “D” grades.', '“Every campus should get an A – that’s not grade inflation, that’s the minimum that every group on every campus expects,” said Greenblatt in a statement. “', 'Like all students, Jewish students deserve to feel safe and supported on campus.”', 'Hamas’ October 7, 2023, attack on Israel left 1,200 dead, and hundreds of Israelis were taken hostage.', 'Israel’s devastating response to the attack has left more than 30,000 dead in Gaza.']",-0.0416677551332013,"Brandeis was established as a nonsectarian school but it was founded with support from the Jewish community, and it was named after former Supreme Court Justice Louis Brandeis, the highest court’s first Jewish member.","Israel’s devastating response to the attack has left more than 30,000 dead in Gaza.",-0.2553153308955105,"It gave Harvard and 12 other schools an “F.” Just two schools got an “A.” Reports of antisemitism on college campuses across the United States have surged after Hamas’ October 7, 2023, terror attack on Israel and the country’s devastating response.","The ADL said antisemitic incidents on campus have reached historic levels, leaving Jewish students feeling unsafe.",2024-04-11 -Toyota's first new 4Runner SUV in 15 years will offer a hybrid engine,https://www.cnbc.com/2024/04/09/2025-toyota-4runner-new-off-road-suv-will-include-a-hybrid-engine.html,2024-04-10T02:42:40+0000,"In this articleToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs.Aside from its new looks, which are similar to the recently redesigned Toyota Tacoma pickup, the 2025 4Runner will be offered with a hybrid engine for the first time as well as new ""Platinum"" and ""Trailhunter"" high-end trims.""This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family,"" Dave Christ, Toyota group vice president and general manager, said in a release. ""We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon.""Toyota's ""truck family"" is also known as the ""five brothers"": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs. The 4Runner is the last to be redesigned and built on Toyota's global truck platform, which debuted with the Land Cruiser and Tundra in 2021.Toyota said pricing of the 2025 4Runner will be released closer to its on-sale date. Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings. The current 4Runner has been on sale, with some updates, since 2010.Toyota said miles per gallon ratings for the new 4Runner will be released closer to the vehicle arriving in showrooms in the fall. Toyota's other redesigned trucks and SUVs have notably improved fuel economy.Jack Hollis, executive vice president of Toyota Motor North America, last month told CNBC that the company continues to balance out its truck and SUV portfolio, including potential hybrid, plug-in hybrid and all-electric models.""Those brothers, they all have a lot of similarities, and they have a lot of differences,"" he said. ""How do we curb carbon emissions fastest with everyone, everywhere? It's having the right mix between those five products.""The 4Runner's available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque. The vehicle's standard turbocharged 2.4-liter engine produces 278 horsepower and 317 foot-pounds of torque.The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.The new Trailhunter model features additional off-road styling and equipment including rock rails and high strength steel skid plates, while the Platinum model is geared toward more convenience and luxury features.Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan.Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years. A previous version of the article misstated how many years it had been.",CNBC,10/04/2024,"[""In this articleToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs."", 'Aside from its new looks, which are similar to the recently redesigned Toyota Tacoma pickup, the 2025 4Runner will be offered with a hybrid engine for the first time as well as new ""Platinum"" and ""Trailhunter"" high-end trims.', '""This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family,"" Dave Christ, Toyota group vice president and general manager, said in a release. ""', ""We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon."", '""Toyota\'s ""truck family"" is also known as the ""five brothers"": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs.', ""The 4Runner is the last to be redesigned and built on Toyota's global truck platform, which debuted with the Land Cruiser and Tundra in 2021.Toyota said pricing of the 2025 4Runner will be released closer to its on-sale date."", 'Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings.', 'The current 4Runner has been on sale, with some updates, since 2010.Toyota said miles per gallon ratings for the new 4Runner will be released closer to the vehicle arriving in showrooms in the fall.', ""Toyota's other redesigned trucks and SUVs have notably improved fuel economy."", 'Jack Hollis, executive vice president of Toyota Motor North America, last month told CNBC that the company continues to balance out its truck and SUV portfolio, including potential hybrid, plug-in hybrid and all-electric models.', '""Those brothers, they all have a lot of similarities, and they have a lot of differences,"" he said. ""', 'How do we curb carbon emissions fastest with everyone, everywhere?', ""It's having the right mix between those five products."", '""The 4Runner\'s available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque.', ""The vehicle's standard turbocharged 2.4-liter engine produces 278 horsepower and 317 foot-pounds of torque."", 'The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.', 'The new Trailhunter model features additional off-road styling and equipment including rock rails and high strength steel skid plates, while the Platinum model is geared toward more convenience and luxury features.', ""Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan."", 'Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years.', 'A previous version of the article misstated how many years it had been.']",0.1106137197191722,"We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon.","The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.",0.3299002846082051,Toyota's other redesigned trucks and SUVs have notably improved fuel economy.,"Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings.",2024-04-11 -TSMC wins subsidies to expand US chip manufacturing in Arizona,https://www.bbc.co.uk/news/business-68763232,2024-04-08T15:03:37.000Z,"Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to build a third factory in Arizona, raising its total investment in the United States from $40bn (£32bn) to $65bn (£51bn). The US government has committed $6.6bn in subsidies and $5bn in possible loans to support the plans. The deal is part of an effort to boost semiconductor production in the US. The US is currently highly dependent on Asia, especially Taiwan, for chips. But it has been pushing to expand local supply amid increased tension with China, citing economic and national security risks. In 2022 the country approved more than $50bn in grants to support manufacturing and research for the industry. The Commerce Department has predicted that the investments will expand America's share of production of the most advanced chips from zero to about 20% by 2030. Laurie Locascio, Under Secretary of Commerce for Standards and Technology, said the latest support for TSMC marked an ""inflection point... that would restore our nation's leadership in an industry that is foundational to the US and global digital economy"". TSMC, headquartered in Taiwan with a large presence in China, is the world's largest maker of semiconductors with clients including Apple. It announced its first US factory in 2020. That facility is expected to open next year and TSMC said a second fab at the complex would start making chips by 2028. The third facility, announced on Monday, is expected to open by the end of the decade. The Commerce Department said the deal would create at least 6,000 direct high-tech jobs, 20,000 in the construction of factories, and tens of thousands of indirect jobs. TSMC has already pushed back production timelines, because of a shortage of skilled labour and some questions around US government incentives. The investment comes as US Treasury Secretary Janet Yellen wraps up a visit to China, where she has been trying to ease tensions between the two giants, which have flared over issues such as semiconductors and green technologies. Ms Yellen said she thought the relationship had improved, while continuing to voice concerns about Beijing economic policies that were also a focus under former President Donald Trump. She spoke out against Chinese government support for companies making electric cars, solar panels and other projects, though she stopped short of threatening new tariffs. The US currently imposes steep import duties on electric cars made in China, a tax other places, including Europe and the UK, are debating. Chinese officials said that their companies' success was due to strong supply chains and decried the ""escalation of green protectionist measures by some developed economies"", according to Reuters. Stephen Olson, a former US trade negotiator and senior adjunct fellow at the Pacific Forum, told the BBC that both countries had an interest in ""trying to improve the mood music"" and signalling ""to the rest of the world that the relationship was being managed"". But he said nothing material will have changed as a result of the talks. ""China will continue to believe correctly or incorrectly, that the United States is determined to block its 'peaceful rise', and the United States will continue to believe correctly or incorrectly, that China engages in a host of predatory economic and trade policies, which threaten the rules-based global system,"" he said. ""Those were the perceptions that were entrenched before the meeting started. And when Janet Yellen gets on the plane and flies back to Washington, I'm afraid those perceptions will remain entrenched."" ",BBC,08/04/2024,"['Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to build a third factory in Arizona, raising its total investment in the United States from $40bn (£32bn) to $65bn (£51bn).', 'The US government has committed $6.6bn in subsidies and $5bn in possible loans to support the plans.', 'The deal is part of an effort to boost semiconductor production in the US.', 'The US is currently highly dependent on Asia, especially Taiwan, for chips.', 'But it has been pushing to expand local supply amid increased tension with China, citing economic and national security risks.', 'In 2022 the country approved more than $50bn in grants to support manufacturing and research for the industry.', ""The Commerce Department has predicted that the investments will expand America's share of production of the most advanced chips from zero to about 20% by 2030."", 'Laurie Locascio, Under Secretary of Commerce for Standards and Technology, said the latest support for TSMC marked an ""inflection point... that would restore our nation\'s leadership in an industry that is foundational to the US and global digital economy"".', ""TSMC, headquartered in Taiwan with a large presence in China, is the world's largest maker of semiconductors with clients including Apple."", 'It announced its first US factory in 2020.', 'That facility is expected to open next year and TSMC said a second fab at the complex would start making chips by 2028.', 'The third facility, announced on Monday, is expected to open by the end of the decade.', 'The Commerce Department said the deal would create at least 6,000 direct high-tech jobs, 20,000 in the construction of factories, and tens of thousands of indirect jobs.', 'TSMC has already pushed back production timelines, because of a shortage of skilled labour and some questions around US government incentives.', 'The investment comes as US Treasury Secretary Janet Yellen wraps up a visit to China, where she has been trying to ease tensions between the two giants, which have flared over issues such as semiconductors and green technologies.', 'Ms Yellen said she thought the relationship had improved, while continuing to voice concerns about Beijing economic policies that were also a focus under former President Donald Trump.', 'She spoke out against Chinese government support for companies making electric cars, solar panels and other projects, though she stopped short of threatening new tariffs.', 'The US currently imposes steep import duties on electric cars made in China, a tax other places, including Europe and the UK, are debating.', 'Chinese officials said that their companies\' success was due to strong supply chains and decried the ""escalation of green protectionist measures by some developed economies"", according to Reuters.', 'Stephen Olson, a former US trade negotiator and senior adjunct fellow at the Pacific Forum, told the BBC that both countries had an interest in ""trying to improve the mood music"" and signalling ""to the rest of the world that the relationship was being managed"".', 'But he said nothing material will have changed as a result of the talks. ""', 'China will continue to believe correctly or incorrectly, that the United States is determined to block its \'peaceful rise\', and the United States will continue to believe correctly or incorrectly, that China engages in a host of predatory economic and trade policies, which threaten the rules-based global system,"" he said. ""', 'Those were the perceptions that were entrenched before the meeting started.', 'And when Janet Yellen gets on the plane and flies back to Washington, I\'m afraid those perceptions will remain entrenched.""']",0.3058278687548064,"Chinese officials said that their companies' success was due to strong supply chains and decried the ""escalation of green protectionist measures by some developed economies"", according to Reuters.","She spoke out against Chinese government support for companies making electric cars, solar panels and other projects, though she stopped short of threatening new tariffs.",0.6616085271040598,"Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to build a third factory in Arizona, raising its total investment in the United States from $40bn (£32bn) to $65bn (£51bn).","TSMC has already pushed back production timelines, because of a shortage of skilled labour and some questions around US government incentives.",2024-04-11 -Fake UK stamps blamed on Chinese-made counterfeits,https://www.bbc.co.uk/news/business-68786782,2024-04-11T07:44:15.000Z,"Fake stamps circulating in the UK are originating from China, a senior MP has told the BBC. Reports suggest a rise in complaints that stamps bought from legitimate stores are being deemed counterfeit. Anyone who receives a letter with a fake stamp is charged £5 by Royal Mail. Conservative MP Iain Duncan Smith told BBC Breakfast: ""China is behind it."" A Royal Mail spokesman said: ""We are working hard to remove counterfeit stamps from circulation."" Consumers are being warned to look out for strange perforations around the edge of a stamp, a shine to the surface or the colour looking off. An investigation by the Daily Telegraph found that four Chinese companies had offered to print up to one million counterfeit stamps a week, with each stamp being sold for as little as 4p each before being sent to the UK. The fakes have been found for sale on various websites, the paper said, and they were also bought by small retailers who did not realise they were counterfeit. Alan Mendoza, from think tank the Henry Jackson Society, told BBC Breakfast: ""We don't know the extent on whether the Chinese government are involved - but what we do know is that Chinese firms are involved."" Business Minister Kevin Hollinrake said: ""It is key to prevent counterfeit stamps entering our supply chain in the UK. ""The Royal Mail must do everything possible to prevent counterfeits entering our circulation and must establish where they are coming from and how they are entering our marketplace."" Christine told the BBC's Watchdog that she had bought eight stamps from the Post Office based inside her local convenience store ""I sent one to my son, and he sent me a message later in the month saying thank you, but unfortunately there was a £5 demand on the envelope,"" she said. Another card sent to a friend's granddaughter also led to a £5 fee. ""Because it was two of them that made me quite indignant,"" Christine said. However, the chance of getting a counterfeit stamp is low, Royal Mail's director of external affairs and policy, David Gold, told Watchdog. ""People should understand that the overwhelming majority of stamps on sale are legitimate,"" he said. ""The number of [counterfeit] stamps that we are spotting account for less than 0.1% of the total stamps going through the network."" Barcoded stamps were introduced in 2022 to cut down on the sale of fakes and Mr Gold said this had reduced the number of counterfeits by 90%. However, he admitted that even he struggled to spot a fake. ""The reality is counterfeiters now are so good at what they do that even I... can't tell the difference just by looking at them."" A Royal Mail spokesman said: ""We regularly monitor online marketplaces to detect suspicious activity, such as sales of heavily discounted stamps and work closely with retailers and law enforcement agencies to identify those who produce counterfeit stamps."" Royal Mail suggests several ways to reduce the chances of ending up with fake stamps: Have you come across fake stamps? You can get in touch by emailing haveyoursay@bbc.co.uk. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission. ",BBC,11/04/2024,"['Fake stamps circulating in the UK are originating from China, a senior MP has told the BBC.', 'Reports suggest a rise in complaints that stamps bought from legitimate stores are being deemed counterfeit.', 'Anyone who receives a letter with a fake stamp is charged £5 by Royal Mail.', 'Conservative MP Iain Duncan Smith told BBC Breakfast: ""China is behind it.""', 'A Royal Mail spokesman said: ""We are working hard to remove counterfeit stamps from circulation.""', 'Consumers are being warned to look out for strange perforations around the edge of a stamp, a shine to the surface or the colour looking off.', 'An investigation by the Daily Telegraph found that four Chinese companies had offered to print up to one million counterfeit stamps a week, with each stamp being sold for as little as 4p each before being sent to the UK.', 'The fakes have been found for sale on various websites, the paper said, and they were also bought by small retailers who did not realise they were counterfeit.', 'Alan Mendoza, from think tank the Henry Jackson Society, told BBC Breakfast: ""We don\'t know the extent on whether the Chinese government are involved - but what we do know is that Chinese firms are involved.""', 'Business Minister Kevin Hollinrake said: ""It is key to prevent counterfeit stamps entering our supply chain in the UK. ""', 'The Royal Mail must do everything possible to prevent counterfeits entering our circulation and must establish where they are coming from and how they are entering our marketplace.""', 'Christine told the BBC\'s Watchdog that she had bought eight stamps from the Post Office based inside her local convenience store ""I sent one to my son, and he sent me a message later in the month saying thank you, but unfortunately there was a £5 demand on the envelope,"" she said.', 'Another card sent to a friend\'s granddaughter also led to a £5 fee. ""', 'Because it was two of them that made me quite indignant,"" Christine said.', 'However, the chance of getting a counterfeit stamp is low, Royal Mail\'s director of external affairs and policy, David Gold, told Watchdog. ""', 'People should understand that the overwhelming majority of stamps on sale are legitimate,"" he said. ""', 'The number of [counterfeit] stamps that we are spotting account for less than 0.1% of the total stamps going through the network.""', 'Barcoded stamps were introduced in 2022 to cut down on the sale of fakes and Mr Gold said this had reduced the number of counterfeits by 90%.', 'However, he admitted that even he struggled to spot a fake. ""', 'The reality is counterfeiters now are so good at what they do that even I... can\'t tell the difference just by looking at them.""', 'A Royal Mail spokesman said: ""We regularly monitor online marketplaces to detect suspicious activity, such as sales of heavily discounted stamps and work closely with retailers and law enforcement agencies to identify those who produce counterfeit stamps.""', 'Royal Mail suggests several ways to reduce the chances of ending up with fake stamps: Have you come across fake stamps?', 'You can get in touch by emailing haveyoursay@bbc.co.uk.', 'Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk."", 'Please include your name, age and location with any submission.']",-0.1448140040798448,"Another card sent to a friend's granddaughter also led to a £5 fee. """,Royal Mail suggests several ways to reduce the chances of ending up with fake stamps: Have you come across fake stamps?,0.0424301773309707,Barcoded stamps were introduced in 2022 to cut down on the sale of fakes and Mr Gold said this had reduced the number of counterfeits by 90%.,"However, the chance of getting a counterfeit stamp is low, Royal Mail's director of external affairs and policy, David Gold, told Watchdog. """,2024-04-11 -Ohtani translator accused of stealing $16 million from Dodgers star,https://www.cnbc.com/2024/04/11/ohtani-translator-accused-of-stealing-16-million-from-dodgers-star.html,2024-04-11T19:14:15+0000,"Shohei Ohtani's former translator Ippei Mizuhara allegedly stole more than $16 million from the Los Angeles Dodgers star to cover millions of dollars of gambling debts, the U.S. attorney's office announced Thursday.The office, which filed a criminal complaint against Mizuhara on Thursday, also said Ohtani had no knowledge of the fraud and is considered a victim in the case.The bets were not placed on baseball games, the office said.Mizuhara had been Ohtani's translator for years. During that time, the attorney's office discovered Mizuhara had full access to Ohtani's bank accounts. Phone records indicate he accessed them online and lied to the bank, pretending to be Ohtani, the office said. He refused to give access to the accounts to Ohtani's agent and other advisors.On March 20, 2024, Mizuhara admitted to a bookmaker in an encrypted text message that he had stolen the money from Ohtani, according to the complaint. ""Technically I did steal from him. It's all over for me,"" he wrote.""Due to the position of trust, he had unique access to his finances and he used and abused that place of trust to take advantage of Mr. Ohtani,"" said U.S. Attorney Martin Estrada.Mizuhara has been the subject of a federal investigation surrounding millions of dollars in wire transfers originating from Ohtani's bank account to an illegal bookmaker beginning in November 2021.Attorneys for Ohtani, Mizuhara and the Dodgers declined to comment on the charges.The Ohtani fraud was first discovered as the U.S. Department of Justice was looking into illegal sports bookmaking operations in Southern California and the laundering of the proceeds of those operations through casinos in Las Vegas. The investigations have led to criminal charges and/or convictions of 12 criminal defendants, the complaint said.While sports gambling is legal in 38 states and Washington, D.C., it is illegal in California, which has driven some bettors to illegal operations.Mizuhara faces a maximum sentence of 30 years in prison for the charges and is expected to make a court appearance in the next couple of days.Estrada said Mizuhara kept his winnings in his own bank account.Despite owing bookmakers millions of dollars in losses, Mizuhara repeatedly asked them to increase his betting limits.""Bad run,"" he texted a bookmaker. ""Any chance you can bump me again?? As you know, you don't have to worry about me not paying!!""By November 2023, Mizuhara's debts had become crippling. He messaged the same bookmaker saying he ended up losing a lot of money on crypto investments in the past couple of years and took huge hits with the sports betting, too.""Is there any way to settle on an amount? I've lost way too much on the site already … of course I know it's my fault,"" he said.Law enforcement officials said Ohtani has been fully cooperating and allowed them access to his electronic devices.Ohtani told officials he believed his accountants and financial advisors were monitoring his accounts and because he received income from both foreign and domestic sources, he would generally not ask about specific accounts, but rather, an overall picture of his investment profile. Yet, due to the language barrier, financial agents and advisors communicated through Mizuhara to translate to their client.In a March 25 press conference, Ohtani said he had just learned about the theft and said he felt sad, shocked and betrayed by someone he had trusted.""I've never bet on baseball, any other sports or never asked somebody to do it on my behalf,"" Ohtani said through another translator.Previously, Mizuhara had said Ohtani knew about the debts and was helping him pay them off. He later backtracked from those statements.Ohtani is one of the biggest stars in Major League Baseball. The 29-year-old Japanese-born pitcher joined the Dodgers on Dec. 9 with a record 10-year, $700 million contract following six seasons with the Los Angeles Angels.Ohtani is the only MLB player to win the American League MVP by unanimous vote twice and the first Japanese-born player to lead the major league in home runs.If Ohtani was found to be involved, he could be in violation of the MLB's gambling policy. Punishments range from suspension of a season to being permanently ineligible.Correction: This story has been updated to correct the spelling of Shohei Ohtani's first name.",CNBC,11/04/2024,"[""Shohei Ohtani's former translator Ippei Mizuhara allegedly stole more than $16 million from the Los Angeles Dodgers star to cover millions of dollars of gambling debts, the U.S. attorney's office announced Thursday."", 'The office, which filed a criminal complaint against Mizuhara on Thursday, also said Ohtani had no knowledge of the fraud and is considered a victim in the case.', 'The bets were not placed on baseball games, the office said.', ""Mizuhara had been Ohtani's translator for years."", ""During that time, the attorney's office discovered Mizuhara had full access to Ohtani's bank accounts."", 'Phone records indicate he accessed them online and lied to the bank, pretending to be Ohtani, the office said.', ""He refused to give access to the accounts to Ohtani's agent and other advisors."", 'On March 20, 2024, Mizuhara admitted to a bookmaker in an encrypted text message that he had stolen the money from Ohtani, according to the complaint. ""', 'Technically I did steal from him.', 'It\'s all over for me,"" he wrote.', '""Due to the position of trust, he had unique access to his finances and he used and abused that place of trust to take advantage of Mr. Ohtani,"" said U.S. Attorney Martin Estrada.', ""Mizuhara has been the subject of a federal investigation surrounding millions of dollars in wire transfers originating from Ohtani's bank account to an illegal bookmaker beginning in November 2021.Attorneys for Ohtani, Mizuhara and the Dodgers declined to comment on the charges."", 'The Ohtani fraud was first discovered as the U.S. Department of Justice was looking into illegal sports bookmaking operations in Southern California and the laundering of the proceeds of those operations through casinos in Las Vegas.', 'The investigations have led to criminal charges and/or convictions of 12 criminal defendants, the complaint said.', 'While sports gambling is legal in 38 states and Washington, D.C., it is illegal in California, which has driven some bettors to illegal operations.', 'Mizuhara faces a maximum sentence of 30 years in prison for the charges and is expected to make a court appearance in the next couple of days.', 'Estrada said Mizuhara kept his winnings in his own bank account.', 'Despite owing bookmakers millions of dollars in losses, Mizuhara repeatedly asked them to increase his betting limits.', '""Bad run,"" he texted a bookmaker. ""', 'Any chance you can bump me again??', 'As you know, you don\'t have to worry about me not paying!!""By November 2023, Mizuhara\'s debts had become crippling.', 'He messaged the same bookmaker saying he ended up losing a lot of money on crypto investments in the past couple of years and took huge hits with the sports betting, too.', '""Is there any way to settle on an amount?', 'I\'ve lost way too much on the site already … of course I know it\'s my fault,"" he said.', 'Law enforcement officials said Ohtani has been fully cooperating and allowed them access to his electronic devices.', 'Ohtani told officials he believed his accountants and financial advisors were monitoring his accounts and because he received income from both foreign and domestic sources, he would generally not ask about specific accounts, but rather, an overall picture of his investment profile.', 'Yet, due to the language barrier, financial agents and advisors communicated through Mizuhara to translate to their client.', 'In a March 25 press conference, Ohtani said he had just learned about the theft and said he felt sad, shocked and betrayed by someone he had trusted.', '""I\'ve never bet on baseball, any other sports or never asked somebody to do it on my behalf,"" Ohtani said through another translator.', 'Previously, Mizuhara had said Ohtani knew about the debts and was helping him pay them off.', 'He later backtracked from those statements.', 'Ohtani is one of the biggest stars in Major League Baseball.', 'The 29-year-old Japanese-born pitcher joined the Dodgers on Dec. 9 with a record 10-year, $700 million contract following six seasons with the Los Angeles Angels.', 'Ohtani is the only MLB player to win the American League MVP by unanimous vote twice and the first Japanese-born player to lead the major league in home runs.', ""If Ohtani was found to be involved, he could be in violation ofthe MLB's gambling policy."", 'Punishments range from suspension of a season to being permanently ineligible.', ""Correction: This story has been updated to correct the spelling of Shohei Ohtani's first name.""]",-0.2037848654880194,"""Due to the position of trust, he had unique access to his finances and he used and abused that place of trust to take advantage of Mr. Ohtani,"" said U.S. Attorney Martin Estrada.","The office, which filed a criminal complaint against Mizuhara on Thursday, also said Ohtani had no knowledge of the fraud and is considered a victim in the case.",-0.7496014634768168,Law enforcement officials said Ohtani has been fully cooperating and allowed them access to his electronic devices.,"He messaged the same bookmaker saying he ended up losing a lot of money on crypto investments in the past couple of years and took huge hits with the sports betting, too.",2024-04-11 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-04-11 -Boeing's quarterly airplane deliveries drop to 83 amid safety crisis,https://www.cnbc.com/2024/04/09/boeing-airplane-deliveries-drop-during-q1-amid-safety-crisis.html,2024-04-09T17:21:00+0000,"In this articleBoeing airplane deliveries dropped in the first quarter to the lowest number since mid-2021 as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period. Solely in March, Boeing delivered 29 planes. Airbus said Tuesday that it delivered 142 planes in the first three months of the year, 63 of them in March.Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large jetliner market. The company logged orders for 111 for new planes last month when stripping out two cancellations, 85 of them 737 Max aircraft for American Airlines, which the carrier announced in early March.The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe. Federal accident investigators said the door plug was missing bolts that hold it in place. Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing output of the jets until it signs off on its quality control procedures.Boeing executives have said the company is slowing down its production to improve quality control and avoid so-called traveled work, when repairs or other tasks occur out of sequence.""We won't rush or go too fast,"" Boeing CFO Brian West said at a Bank of America conference last month. ""In fact, we're deliberately going to slow to get this right. And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready. And we'll feel the impact of that over the next several months.""Aircraft delivery delays sparked criticism from the CEOs of some of Boeing's biggest airline customers, and in its wake, CEO Dave Calhoun last month announced he will step down by year's end. Boeing also replaced its board chair and the head of its commercial airplane unit.Alaska Airlines said last week it received $160 million in compensation from Boeing in the first quarter stemming from a brief grounding of the plane after the accident.Boeing is scheduled to report first-quarter results and update investors on April 24.",CNBC,09/04/2024,"['In this articleBoeing airplane deliveries dropped in the first quarterto the lowest number since mid-2021as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.', 'The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period.', 'Solely in March, Boeing delivered 29 planes.', 'Airbus said Tuesday that it delivered 142 planes in the first three months of the year, 63 of them in March.', 'Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large jetliner market.', 'The company logged orders for 111 for new planes last month when stripping out two cancellations, 85 of them 737 Max aircraft for American Airlines, which the carrier announced in early March.', 'The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe.', 'Federal accident investigators said the door plug was missing bolts that hold it in place.', ""Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing output of the jets until it signs off on its quality control procedures."", 'Boeing executives have said the company is slowing down its production to improve quality control and avoid so-called traveled work, when repairs or other tasks occur out of sequence.', '""We won\'t rush or go too fast,"" Boeing CFO Brian West said at a Bank of America conference last month. ""', ""In fact, we're deliberately going to slow to get this right."", ""And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready."", ""And we'll feel the impact of that over the next several months."", '""Aircraft delivery delays sparked criticism from the CEOs of some of Boeing\'s biggest airline customers, and in its wake, CEO Dave Calhoun last month announced he will step down by year\'s end.', 'Boeing also replaced its board chair and the head of its commercial airplane unit.', 'Alaska Airlines said last week it received $160 million in compensation from Boeing in the first quarter stemming from a brief grounding of the plane after the accident.', 'Boeing is scheduled to report first-quarter results and update investors on April 24.']",-0.1149832774170058,And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready.,The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe.,-0.1954715847969055,"The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period.",In this articleBoeing airplane deliveries dropped in the first quarterto the lowest number since mid-2021as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.,2024-04-11 -Denver-Boulder area stakes a claim in space with a burgeoning aerospace industry,https://www.cnbc.com/2024/04/11/denver-boulder-area-benefits-from-burgeoning-aerospace-industry.html,2024-04-11T11:19:37+0000,"This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses.It might not be obvious to someone driving around Denver and Boulder that there are hundreds of companies actively working on some of America's most complex national security needs and building innovative products like those that might be seen in a sci-fi film.But the local industry's liftoff has been undeniable: Aerospace grew 88% over the past two decades, more than any other emerging industry in the Denver and Boulder metro areas during that time period, according to a CNBC analysis. Now, 191 aerospace businesses are supporting 29,000 jobs in the region, the Colorado Space Coalition reports.""When we were creating Voyager and thinking through the best growth markets where we could have access to talent ... Denver really rose to the top,"" Dylan Taylor, chairman and chief executive of Voyager Space, told CNBC's Morgan Brennan in an interview on CNBC's ""Manifest Space"" podcast. He founded the privately held multinational space conglomerate in 2019 in Denver.""I think talent coupled with alignment from the government were really important considerations, and then also if you look at other elements of Denver, whether it's access to capital, this is an emerging venture capital market, especially the Boulder corridor,"" he added.The region's corporate roster ranges from the biggest, oldest, prime contractors such as Lockheed Martin, Boeing and Northrop Grumman to the newest commercial space and defense tech startups such as Ursa Major and True Anomaly. United Launch Alliance, BAE Systems and RTX also have a presence in the area, as do private space stalwarts in addition to Voyager such as Sierra Space and Jeff Bezos' Blue Origin, which has been expanding its local footprint aggressively in recent years.Follow and listen to CNBC's ""Manifest Space"" podcast, hosted by Morgan Brennan, wherever you get your podcasts.""I think aerospace has become a fulcrum of our whole economy now,"" said U.S. Sen. John Hickenlooper, D-Colo., who previously served as Colorado's governor and before that as mayor of Denver.""It's a community that works together in terms of aerospace,"" said Hickenlooper, who is cited by local business executives as being a key space proponent for the region and the state. ""It's not dog eat dog. It's all dogs working together. It's hunting like wolves.""For Voyager, that's been true. The company has so far made seven acquisitions — the first two of which were local startups. ""We're circa 700 employees now and, you know, quite a bit of revenue, looking to enter in the public markets at some point,"" Taylor said.Its most high-profile project, Starlab, is an effort to replace the aging International Space Station. Voyager has teamed up with Airbus in a joint venture to build the commercial space station, with Mitsubishi recently announced as a strategic partner and equity owner. The space station is expected to launch to orbit on SpaceX's powerful Starship rocket system, which is under development.For Taylor, who has been to space himself after a trip on Blue Origin's New Shepard, the Denver-Boulder space story extends beyond Voyager too. He's spent years investing in the sector personally, as an early backer in more than 50 startups, including Orbit Fab.Backed by neighboring Lockheed Martin and Northrop Grumman, Orbit Fab moved into a roughly 60,000-square-foot manufacturing facility after relocating from California in 2021.""We started the company in Silicon Valley. We moved to Colorado mainly because of the workforce. There's a bigger aerospace workforce here,"" said Daniel Faber, Orbit Fab's CEO and founder.Since making the move, the company has grown from six to 60 employees, and is focused on building ""gas stations"" in space to refuel satellites. Historically, many satellites have been decommissioned not because their payloads or hardware no longer work, but because they have run out of power.""If you ran out of fuel on a highway, AAA can come and deliver you fuel. That's actually the typical way that we'll do it in space,"" Faber said. The startup recently revealed a refueling port — or gas cap — that's been flight qualified and is commercially available for $30,000 per unit.Like many companies in the area, Orbit Fab counts the U.S. military, specifically the Space Force, among its biggest customers. One thing that makes the broader Denver-Boulder region so unique is its robust military presence, including three separate U.S. Space Force bases, the U.S. Space Operations Command and the U.S. Air Force Academy in nearby Colorado Springs.""I think the location matters greatly,"" said Col. Heidi Dexter, commander of Space Base Delta 2 at Buckley Space Force Base in Aurora, Colorado. ""The partnership that we have with all of the local defense contractors and the startups allow us the opportunity to drive down the cost of space operations, as well as innovate very quickly so that it's crucial to national defense.""Colorado now boasts more private aerospace employees per capita than any other state, according to the Metro Denver Economic Development Corporation.""What an executive, a CEO for a rapidly growing company, wants to hear is that young people will be attracted,"" Hickenlooper said. ""Once you attract young people, eventually the entrepreneurs come, the businesses start."" TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. EDT.",CNBC,11/04/2024,"[""This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", ""In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses."", ""It might not be obvious to someone driving around Denver and Boulder that there are hundreds of companies actively working on some of America's most complex national security needs and building innovative products like those that might be seen in a sci-fi film."", ""But the local industry's liftoff has been undeniable: Aerospace grew 88% over the past two decades, more than any other emerging industry in the Denver and Boulder metro areas during that time period, according to a CNBC analysis."", 'Now, 191 aerospace businesses are supporting 29,000 jobs in the region, the Colorado Space Coalition reports.', '""When we were creating Voyager and thinking through the best growth markets where we could have access to talent ... Denver really rose to the top,"" Dylan Taylor, chairman and chief executive of Voyager Space, told CNBC\'sMorgan Brennanin an interview onCNBC\'s ""Manifest Space"" podcast.', 'He founded the privately held multinational space conglomerate in 2019 in Denver.', '""I think talent coupled with alignment from the government were really important considerations, and then also if you look at other elements of Denver, whether it\'s access to capital, this is an emerging venture capital market, especially the Boulder corridor,"" he added.', ""The region's corporate roster ranges from the biggest, oldest, prime contractors such as Lockheed Martin, Boeing and Northrop Grumman to the newest commercial space and defense tech startups such as Ursa Major and True Anomaly."", ""United Launch Alliance, BAE Systems and RTX also have a presence in the area, as do private space stalwarts in addition to Voyager such as Sierra Space and Jeff Bezos' Blue Origin, which has been expanding its local footprint aggressively in recent years."", 'Follow and listen to CNBC\'s""Manifest Space"" podcast, hosted by Morgan Brennan, wherever you get your podcasts.', '""I think aerospace has become a fulcrum of our whole economy now,"" said U.S. Sen. John Hickenlooper, D-Colo., who previously served as Colorado\'s governor and before that as mayor of Denver.', '""It\'s a community that works together in terms of aerospace,"" said Hickenlooper, who is cited by local business executives as being a key space proponent for the region and the state. ""', ""It's not dog eat dog."", ""It's all dogs working together."", ""It's hunting like wolves."", '""For Voyager, that\'s been true.', 'The company has so far made seven acquisitions — the first two of which were local startups. ""', 'We\'re circa 700 employees now and, you know, quite a bit of revenue, looking to enter in the public markets at some point,"" Taylor said.', 'Its most high-profile project, Starlab, is an effort to replace the aging International Space Station.', 'Voyager has teamed up with Airbus in a joint venture to build the commercial space station, with Mitsubishi recently announced as a strategic partner and equity owner.', ""The space station is expected to launch to orbit on SpaceX's powerful Starship rocket system, which is under development."", ""For Taylor, who has been to space himself after a trip on Blue Origin's New Shepard, the Denver-Boulder space story extends beyond Voyager too."", ""He's spent years investing in the sector personally, as an early backer in more than 50 startups, including Orbit Fab."", 'Backed by neighboring Lockheed Martin and Northrop Grumman, Orbit Fab moved into a roughly 60,000-square-foot manufacturing facility after relocating from California in 2021.""We started the company in Silicon Valley.', 'We moved to Colorado mainly because of the workforce.', 'There\'s a bigger aerospace workforce here,"" said Daniel Faber, Orbit Fab\'s CEO and founder.', 'Since making the move, the company has grown from six to 60 employees, and is focused on building ""gas stations"" in space to refuel satellites.', 'Historically, many satellites have been decommissioned not because their payloads or hardware no longer work, but because they have run out of power.', '""If you ran out of fuel on a highway, AAA can come and deliver you fuel.', 'That\'s actually the typical way that we\'ll do it in space,"" Faber said.', ""The startup recently revealed a refueling port — or gas cap — that's been flight qualified and is commercially available for $30,000 per unit."", 'Like many companies in the area, Orbit Fab counts the U.S. military, specifically the Space Force, among its biggest customers.', 'One thing that makes the broader Denver-Boulder region so unique is its robust military presence, including three separate U.S. Space Force bases, the U.S. Space Operations Command and the U.S. Air Force Academy in nearby Colorado Springs.', '""I think the location matters greatly,"" said Col.', 'Heidi Dexter, commander of Space Base Delta 2 at Buckley Space Force Base in Aurora, Colorado. ""', ""The partnership that we have with all of the local defense contractors and the startups allow us the opportunity to drive down the cost of space operations, as well as innovate very quickly so that it's crucial to national defense."", '""Colorado now boasts more private aerospace employees per capita than any other state, according to the Metro Denver Economic Development Corporation.', '""What an executive, a CEO for a rapidly growing company, wants to hear is that young people will be attracted,"" Hickenlooper said. ""', 'Once you attract young people, eventually the entrepreneurs come, the businesses start.""', 'TUNE IN: The ""Cities of Success"" special featuringDenver and Boulderwill air on CNBC on April 11at 10 p.m. EDT.']",0.2533698501506317,"""When we were creating Voyager and thinking through the best growth markets where we could have access to talent ... Denver really rose to the top,"" Dylan Taylor, chairman and chief executive of Voyager Space, told CNBC'sMorgan Brennanin an interview onCNBC's ""Manifest Space"" podcast.","In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses.",0.967477884557512,"But the local industry's liftoff has been undeniable: Aerospace grew 88% over the past two decades, more than any other emerging industry in the Denver and Boulder metro areas during that time period, according to a CNBC analysis.",,2024-04-11 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-04-11 -NPR faces right-wing revolt and calls for defunding after editor claims left-wing bias,https://edition.cnn.com/2024/04/11/media/npr-uri-berliner-left-bias-right-wing-media/index.html," - Published - 6:45 AM EDT, Thu April 11, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - National Public Radio is being battered by a right-wing storm. - - A day after NPR senior business editor Uri Berliner penned a scathing piece for Bari Weiss’ Free Press, pointedly critiquing the publicly funded outlet and portraying it as an institution that has descended into the depths of wokeism, the network finds itself under siege. - - Donald Trump, Fox News, and the other organs in the right-wing universe are holding up Berliner’s 3,500-word piece to demonize the outlet. And they are not stopping with a simple verbal assault, openly demanding that lawmakers strip the newsroom of its government funding. Trump on Wednesday, calling NPR a “LIBERAL DISINFORMATION MACHINE,” said that “NOT ONE DOLLAR” of government funds should be sent into its coffers moving forward. - - “NO MORE FUNDING FOR NPR, A TOTAL SCAM!” Trump ranted on his Truth Social platform. - - While Trump has pushed to defund the outlet before, the rage present in his post reflected the larger backlash in the right-wing media universe, where top figures have lambasted the public radio broadcaster as nothing more than a liberal propaganda mouthpiece and questioned why taxpayer dollars are funding the outlet. The NPR editor’s allegations of network bias has been billed as a top story, with right-wing outlets and personalities portraying Berliner as a “whistleblower” who has shined a bright light on a sinister operation aimed at indoctrinating Americans. - - “WOKE NPR EXPOSED,” declared an on-screen banner Wednesday on Fox News’ most-watched program, “The Five.” - - “NPR PUMPED OUT AN ASSEMBLY LINE OF PROPAGANDA,” blared a separate banner on Fox News host Jesse Watters’ primetime program. - - Berliner, however, did not go nearly that far in his piece. And he stressed in his essay that defunding the broadcaster “isn’t the answer.” In an email on Wednesday, Berliner also told CNN that he rejects the notion that NPR is a “liberal disinformation machine,” as Trump stated. - - “I have not seen Trump’s comments, but the quote you cite is not the first time he has attacked the media,” he wrote. “He has done it countless times before and will no doubt do it many times again.” - - While Berliner is not entirely on board with how his essay is being interpreted by Trump and his MAGA Media allies, the piece did validate a number of complaints the right has had about NPR and the press at large. Berliner ridiculed the outlet’s coverage of “Russiagate,” the Covid-19 lab-leak theory and the New York Post’s Hunter Biden story. And he used his complaints about how those individual stories were covered by his colleagues to draw a sweeping conclusion. NPR, he asserted, had “lost America’s trust” by embracing a “progressive worldview,” rejecting “viewpoint diversity,” and “telling listeners how to think.” - - Berliner, who cited data showing that in 2023 self-identifying conservatives consumed NPR in fewer numbers than they had in 2011, strangely failed to identify the elephant in the room: by 2023, Trump and the MAGA Media machine had spent years waging a brutal war on truth and the media organizations that espouse it. That war, unquestionably, is responsible for many Republicans losing trust in newsrooms, including NPR’s. Additionally, those who identified as a Republican in 2011 may have, after the chaotic Trump presidency, changed how they identify politically. - - But when CNN asked Berliner why his essay neglected to mention the impact Trump’s war on the media has had on the public’s trust, he declined to comment. - - “That’s all from me now,” Berliner wrote, strangely disinterested in a topic that cuts to the very heart of his essay’s central thesis. - - In a follow-up email, Berliner sent a link to a Gallup poll conducted last year showing trust in media had fallen, writing, “Confidence in the media has tanked, including among Democrats. It’s a good time for us to look in the mirror.” - - Regardless of the questionable merits of Berliner’s sweeping conclusions, his piece has been nothing short of a massive gift to the right, which has made vilifying the news media its top priority in recent years. If Berliner had hoped that his essay would generate a conversation that would increase trust from conservatives, he was sorely mistaken. Ironically, it is doing the very opposite. - - NPR’s response, meanwhile, has been rather muted. Editor-In-Chief Edith Chapin pushed back against Berliner’s characterization of the outlet in a Tuesday memo to staffers. Chapin said that NPR management “strongly disagree with Uri’s assessment of the quality of our journalism and the integrity of our newsroom processes.” - - But the outlet remained silent on Wednesday. A spokesperson did not respond to questions about attacks on the outlet or how management could expect its staffers to collaborate with Berliner, given how he openly spurned colleagues in his Free Press essay. - - Berliner declined to comment when asked what he would say to colleagues who have concerns that he can no longer be trusted. But the editor said that, for now, he is still employed by NPR.",CNN,11/04/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'National Public Radiois being battered by a right-wing storm.', 'A day after NPR senior business editorUri Berlinerpenned a scathing piece forBari Weiss’ Free Press, pointedly critiquing the publicly funded outlet and portraying it as an institution that has descended into the depths of wokeism, the network finds itself under siege.', 'Donald Trump,Fox News, and the other organs in the right-wing universe are holding up Berliner’s 3,500-word piece to demonize the outlet.', 'And they are not stopping with a simple verbal assault, openly demanding that lawmakers strip the newsroom of its government funding.', 'Trump on Wednesday, calling NPR a “LIBERAL DISINFORMATION MACHINE,” said that “NOT ONE DOLLAR” of government funds should be sent into its coffers moving forward.', '“NO MORE FUNDING FOR NPR, A TOTAL SCAM!”', 'Trump ranted on hisTruth Socialplatform.', 'While Trump has pushed to defund the outlet before, the rage present in his post reflected the larger backlash in the right-wing media universe, where top figures have lambasted the public radio broadcaster as nothing more than a liberal propaganda mouthpiece and questioned why taxpayer dollars are funding the outlet.', 'The NPR editor’s allegations of network bias has been billed as a top story, with right-wing outlets and personalities portraying Berliner as a “whistleblower” who has shined a bright light on a sinister operation aimed at indoctrinating Americans.', '“WOKE NPR EXPOSED,” declared an on-screen banner Wednesday on Fox News’ most-watched program,“The Five.”', '“NPR PUMPED OUT AN ASSEMBLY LINE OF PROPAGANDA,” blared a separate banner on Fox News hostJesse Watters’ primetime program.', 'Berliner, however, did not go nearly that far in his piece.', 'And he stressed in his essay that defunding the broadcaster “isn’t the answer.”', 'In an email on Wednesday, Berliner also told CNN that he rejects the notion that NPR is a “liberal disinformation machine,” as Trump stated.', '“I have not seen Trump’s comments, but the quote you cite is not the first time he has attacked the media,” he wrote. “', 'He has done it countless times before and will no doubt do it many times again.”', 'While Berliner is not entirely on board with how his essay is being interpreted by Trump and his MAGA Media allies, the piece did validate a number of complaints the right has had about NPR and the press at large.', 'Berliner ridiculed the outlet’s coverage of“Russiagate,” the Covid-19 lab-leak theory and theNew York Post’s Hunter Bidenstory.', 'And he used his complaints about how those individual stories were covered by his colleagues to draw a sweeping conclusion.', 'NPR, he asserted, had “lost America’s trust” by embracing a “progressive worldview,” rejecting “viewpoint diversity,” and “telling listeners how to think.”', 'Berliner, who cited data showing that in 2023 self-identifying conservatives consumed NPR in fewer numbers than they had in 2011, strangely failed to identify the elephant in the room: by 2023, Trump and the MAGA Media machine had spent years waging a brutal war on truth and the media organizations that espouse it.', 'That war, unquestionably, is responsible for many Republicans losing trust in newsrooms, including NPR’s.', 'Additionally, those who identified as a Republican in 2011 may have, after the chaotic Trump presidency, changed how they identify politically.', 'But when CNN asked Berliner why his essay neglected to mention the impact Trump’s war on the media has had on the public’s trust, he declined to comment.', '“That’s all from me now,” Berliner wrote, strangely disinterested in a topic that cuts to the very heart of his essay’s central thesis.', 'In a follow-up email, Berliner sent a linkto a Gallup pollconducted last year showing trust in media had fallen, writing, “Confidence in the media has tanked, including among Democrats.', 'It’s a good time for us to look in the mirror.”', 'Regardless of the questionable merits of Berliner’s sweeping conclusions, his piece has been nothing short of a massive gift to the right, which has made vilifying the news media its top priority in recent years.', 'If Berliner had hoped that his essay would generate a conversation that would increase trust from conservatives, he was sorely mistaken.', 'Ironically, it is doing the very opposite.', 'NPR’s response, meanwhile, has been rather muted.', 'Editor-In-ChiefEdith Chapinpushed back against Berliner’s characterization of the outlet in a Tuesday memo to staffers.', 'Chapin said that NPR management “strongly disagree with Uri’s assessment of the quality of our journalism and the integrity of our newsroom processes.”', 'But the outlet remained silent on Wednesday.', 'A spokesperson did not respond to questions about attacks on the outlet or how management could expect its staffers to collaborate with Berliner, given how he openly spurned colleagues in his Free Press essay.', 'Berliner declined to comment when asked what he would say to colleagues who have concerns that he can no longer be trusted.', 'But the editor said that, for now, he is still employed by NPR.']",-0.1481247028710345,"If Berliner had hoped that his essay would generate a conversation that would increase trust from conservatives, he was sorely mistaken.","Berliner, who cited data showing that in 2023 self-identifying conservatives consumed NPR in fewer numbers than they had in 2011, strangely failed to identify the elephant in the room: by 2023, Trump and the MAGA Media machine had spent years waging a brutal war on truth and the media organizations that espouse it.",-0.5556613206863403,"If Berliner had hoped that his essay would generate a conversation that would increase trust from conservatives, he was sorely mistaken.","In a follow-up email, Berliner sent a linkto a Gallup pollconducted last year showing trust in media had fallen, writing, “Confidence in the media has tanked, including among Democrats.",2024-04-11 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-04-11 -"The rich are getting second passports, citing risk of instability",https://www.cnbc.com/2024/04/10/rich-americans-get-second-passports-citing-risk-of-instability.html,2024-04-10T12:44:24+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.The wealthy are building these ""passport portfolios"" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country. Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.""The U.S. is still a great country, it's still an amazing passport,"" said Dominic Volek, group head of private clients at Henley & Partners. ""But if I'm wealthy, I would like to hedge against levels of volatility and uncertainty. The idea of diversification is well understood by wealthy individuals around what they invest. It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.""Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.Of course, the wealthy aren't packing up en masse and ditching their American citizenship. While a relatively small number of Americans do renounce their citizenship every year to declare a new home country, mainly due to tax-filing requirements, the so-called ""exit tax"" required to renounce citizenship makes it financially prohibitive for most except the ultra-wealthy to simply renounce and declare a new citizenship.Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport.According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy. Portugal's ""Golden Visa"" program is especially popular since it provides a path to residency and citizenship — with visa-free travel in Europe — in exchange for an investment of 500,000 euros (roughly $541,000) in a fund or private equity. Malta offers a Golden Visa for 300,000 euros invested in real estate, which Volek said has become ""especially popular with Americans.""""With Malta you become a European citizen, with complete settlement rights across Europe,"" he said. ""So you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.""There are three main reasons for the rise of American passport portfolios, or ""domicile diversification."" An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""With rising global instability, holding citizenship in another country, particularly one that is considered more neutral or politically benign, now provides a valuable back-up or alternative option.""Another reason is business travel, which can be safer and less conspicuous with a non-U.S. passport in many countries. U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.Using a secondary passport can also help cross-border financial transfers or deals within the new country.Finally, some wealthy Americans simply want a back-up residency for possible retirement, to be closer to their families who live abroad or for lifestyle reasons in the new age of remote work. For others, U.S. politics is the driver.  ""We all live in uncertain times, not just in the U.S., but in all nations globally,"" Volek said. ""Who knows what's going to happen next. It's really about having not only a Plan B but Plan C and D in place as well.""Globally, millionaire migration is expected to hit a new high in 2024, as wars, government crackdowns on wealth, and political uncertainty drive more wealthy residents to other countries. An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.The U.S. remains a top destination for global millionaires leaving other countries, with a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to Henley.China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.""The wealth-creation opportunities in the U.S. are second to none globally,"" Volek said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,10/04/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.', 'The wealthy are building these ""passport portfolios"" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country.', 'Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.', '""The U.S. is still a great country, it\'s still an amazing passport,"" said Dominic Volek, group head of private clients at Henley & Partners. ""', ""But if I'm wealthy, I would like to hedge against levels of volatility and uncertainty."", 'The idea of diversification is well understood by wealthy individuals around what they invest.', 'It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.', '""Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.', ""Of course, the wealthy aren't packing up en masse and ditching their American citizenship."", 'While a relatively small number of Americans do renounce their citizenship every year to declare a new home country, mainly due to tax-filing requirements, the so-called ""exit tax"" required to renounce citizenship makes it financially prohibitive for most except the ultra-wealthy to simply renounce and declare a new citizenship.', 'Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport.', 'According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy.', 'Portugal\'s ""Golden Visa"" program is especially popular since it provides a path to residency and citizenship — with visa-free travel in Europe — in exchange for an investment of 500,000 euros (roughly $541,000) in a fund or private equity.', 'Malta offers a Golden Visa for 300,000 euros invested in real estate, which Volek said has become ""especially popular with Americans.', '""""With Malta you become a European citizen, with complete settlement rights across Europe,"" he said. ""', 'So you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.', '""There are three main reasons for the rise of American passport portfolios, or ""domicile diversification.""', 'An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""', 'With rising global instability, holding citizenship in another country, particularly one that is considered more neutral or politically benign, now provides a valuable back-up or alternative option.', '""Another reason is business travel, which can be safer and less conspicuous with a non-U.S. passport in many countries.', 'U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.', 'Using a secondary passport can also help cross-border financial transfers or deals within the new country.', 'Finally, some wealthy Americans simply want a back-up residency for possible retirement, to be closer to their families who live abroad or for lifestyle reasons in the new age of remote work.', 'For others, U.S. politics is the driver. ""', 'We all live in uncertain times, not just in the U.S., but in all nations globally,"" Volek said. ""', ""Who knows what's going to happen next."", ""It's really about having not only a Plan B but Plan C and D in place as well."", '""Globally, millionaire migration is expected to hit a new high in 2024, as wars, government crackdowns on wealth, and political uncertainty drive more wealthy residents to other countries.', 'An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.', 'The U.S. remains a top destination for global millionaires leaving other countries, with a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to Henley.', 'China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.', '""The wealth-creation opportunities in the U.S. are second to none globally,"" Volek said.', ""Sign up to receive future editions of CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.2671963679040812,"An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""","U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.",0.6473015944163004,"An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.","China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.",2024-04-11 -‘I cannot afford to live’: Gen Z is full of financial angst despite inheriting a golden job market,https://edition.cnn.com/2024/04/10/business/gen-zs-financial-angst/index.html," - Updated - 12:49 PM EDT, Wed April 10, 2024 - ","Gen Z is coming into the workforce and — in one of the grand traditions of what Millennials cringe-ily called “adulting” — they’re complaining about how much easier older generations had it. - - Before all the Boomers and Slackers throw their tablets across the room, let me note that Gen Zers — folks born between the late 1990s and early 2010s — are entering adulthood during one of strongest job markets in US history. Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream. - - “This is the best economy we’ve seen for younger workers that anybody can remember,” Brendan Duke, senior director for economic policy at the Center for American Progress, tells me. Their wages have gone up faster than inflation overall, and more quickly than any other age cohort, he added. - - See here: Last year, the unemployment rate for 16-to-24-year-olds was 7.9% — the lowest it’s been since 1953, and far better than the — wait for it — 18.4% unemployment rate for that age group in 2010, coming out of the recession. - - But Gen Z isn’t having an easy go of it either. - - Like all of us (hi, elder Millennial here), they’re struggling with an onslaught of inflation that pushed prices rapidly higher over the past three years. The essentials have been particularly expensive: Food prices surged during the pandemic, and companies haven’t been shy about keeping them elevated even as supply chains recovered. Shelter costs ballooned when the Federal Reserve jacked up interest rates, leading Boomers (or anyone with a less-than-3% mortgage) to stay in the homes they might otherwise have downsized out of. We can’t seem to build homes fast enough to meet demand. It’s a mess. - - “Housing is a huge challenge for younger workers,” Duke said. “I think that’s the part of the economy where we’ve seen the least progress when it comes to bringing down inflation, and that’s the part of the economy where younger workers bear the brunt.” - - Surviving inflation gets a lot easier if you own property. Homeowners can take out equity loans, or count on getting a chunk of change when they sell. Gen Z hasn’t had a chance to get a foot in the door. - - It’s important to remember, Duke tells me, that younger workers are always starting out at a disadvantage when they enter the workforce. You start at an entry level wage, gain experience, and, typically, you see your wages go up. Of course, the long view is little comfort when you’re 23 and slurping bodega ramen with your six roommates. - - One giant difference between now and any other moment in history: Gen Z is entering adulthood armed with a menagerie of social platforms where they can publicly broadcast their financial angst, or, conversely, gawk at peers who are having a better time thanks to generational wealth. - - Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares. - - “I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.” - - Later, he concludes: “The American Dream is dead.” - - Like much of the financial analysis on TikTok, the video goes a little off the rails. But the anger and despair point to a real and growing ennui that’s taken root among younger people. - - Gen Zers are reporting higher rates of anxiety, depression, and distress than any other age group, according to a 2022 McKinsey study. The same study found that Gen Z was the least likely cohort to seek out medical care for those conditions because behavioral health care is too expensive. “Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said. - - It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic. Now the oldest ones are grappling with an adulthood that may not permit them the benefits of homeownership, a comfortable income or a stable climate. - - That fatalism is particularly problematic when it comes to inflation, which becomes harder to fight when consumers expect prices to keep running hot. A recent Bloomberg analysis based on UK data found that inflation expectations among people 16 to 24 have risen more than any other age group since the pandemic — a fact that researchers said can have a scarring effect. - - It’s not exactly sunny in Millennial-ville: We’re running up huge piles of debt, and many share the feeling the American Dream is out of reach. - - But distressed Gen Zers can take a bit of solace from the Millennial experience. - - Many of us had no job prospects to speak of straight out of college, and slogged through a decade of stagnant wages (all while the Boomers who blew up the economy shamed us for living at home and eating avocado toast). Other jobless Millennials flocked to graduate school, taking on even more debt that’s become a massive drag on economic mobility. (That’s another benefit of a strong labor market, Duke notes: You end up with fewer hapless young people taking on grad school debt that’ll come back to haunt them.) - - It took a long time, but Millennials have, in some ways, caught up. We’re outpacing Gen X in retirement savings as of 2022, according to Charles Schwab. And, since 2019, workers under the age of 40 saw wages go up 14% on average.",CNN,10/04/2024,"['Gen Z is coming into the workforce and — in one of the grand traditions of what Millennials cringe-ily called “adulting” — they’re complaining about how much easier older generations had it.', 'Before all the Boomers and Slackers throw their tablets across the room, let me note that Gen Zers — folks born between the late 1990s and early 2010s — are entering adulthood during one of strongest job markets in US history.', 'Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream.', '“This is the best economy we’ve seen for younger workers that anybody can remember,” Brendan Duke, senior director for economic policy at the Center for American Progress, tells me.', 'Their wages have gone up faster than inflation overall, and more quickly than any other age cohort, he added.', 'See here: Last year, the unemployment rate for 16-to-24-year-olds was 7.9% — the lowest it’s been since 1953, and far better than the — wait for it — 18.4% unemployment rate for that age group in 2010, coming out of the recession.', 'But Gen Z isn’t having an easygo of it either.', 'Like all of us (hi, elder Millennial here), they’re struggling with an onslaught of inflation that pushed prices rapidly higher over the past three years.', 'The essentials have been particularly expensive: Food prices surged during the pandemic, and companies haven’t been shy about keeping them elevated even as supply chains recovered.', 'Shelter costs ballooned when the Federal Reserve jacked up interest rates, leading Boomers (or anyone with a less-than-3% mortgage) to stay in the homes they might otherwise have downsized out of.', 'We can’t seem to build homes fast enough to meet demand.', 'It’s a mess.', '“Housing is a huge challenge for younger workers,” Duke said. “', 'I think that’s the part of the economy where we’ve seen the least progress when it comes to bringing down inflation, and that’s the part of the economy where younger workers bear the brunt.”', 'Surviving inflation gets a lot easier if you own property.', 'Homeowners can take out equity loans, or count on getting a chunk of change when they sell.', 'Gen Z hasn’t had a chance to get a foot in the door.', 'It’s important to remember, Duke tells me, that younger workers are always starting out at a disadvantage when they enter the workforce.', 'You start at an entry level wage, gain experience, and, typically, you see your wages go up.', 'Of course, the long view is little comfort when you’re 23 and slurping bodega ramen with your six roommates.', 'One giant difference between now and any other moment in history: Gen Z is entering adulthood armed with a menagerie of social platforms where they can publicly broadcast their financial angst, or, conversely, gawk at peers who are having a better time thanks to generational wealth.', 'Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares.', '“I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “', 'It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.”', 'Later, he concludes: “The American Dream is dead.”', 'Like much of the financial analysis on TikTok, the video goes a little off the rails.', 'But the anger and despair point to a real and growing ennui that’s taken root among younger people.', 'Gen Zers are reporting higher rates of anxiety, depression, and distress than any other age group, according to a 2022 McKinsey study.', 'The same study found that Gen Z was the least likely cohort to seek out medical care for those conditions because behavioral health care is too expensive. “', 'Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said.', 'It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic.', 'Now the oldest ones are grappling with an adulthood that may not permit them the benefits of homeownership, a comfortable income or a stable climate.', 'That fatalism is particularly problematic when it comes to inflation, which becomes harder to fight when consumers expect prices to keep running hot.', 'A recent Bloomberg analysis based on UK data found that inflation expectations among people 16 to 24 have risen more than any other age group since the pandemic — a fact that researchers said can have a scarring effect.', 'It’s not exactly sunny in Millennial-ville: We’re running up huge piles of debt, and many share the feeling the American Dream is out of reach.', 'But distressed Gen Zers can take a bit of solace from the Millennial experience.', 'Many of us had no job prospects to speak of straight out of college, and slogged through a decade of stagnant wages (all while the Boomers who blew up the economy shamed us for living at home and eating avocado toast).', 'Other jobless Millennials flocked to graduate school, taking on even more debt that’s become a massive drag on economic mobility. (', 'That’s another benefit of a strong labor market, Duke notes: You end up with fewer hapless young people taking on grad school debt that’ll come back to haunt them.)', 'It took a long time, but Millennials have, in some ways, caught up.', 'We’re outpacing Gen X in retirement savings as of 2022, according to Charles Schwab.', 'And, since 2019, workers under the age of 40 saw wages go up 14% on average.']",0.0126737710323752,Gen Z is coming into the workforce and — in one of the grand traditions of what Millennials cringe-ily called “adulting” — they’re complaining about how much easier older generations had it.,But the anger and despair point to a real and growing ennui that’s taken root among younger people.,0.0784676885604858,"And, since 2019, workers under the age of 40 saw wages go up 14% on average.","Shelter costs ballooned when the Federal Reserve jacked up interest rates, leading Boomers (or anyone with a less-than-3% mortgage) to stay in the homes they might otherwise have downsized out of.",2024-04-11 -Iowa-South Carolina NCAA women's final draws record 18.7 million viewers,https://www.cnbc.com/2024/04/08/iowa-south-carolina-ncaa-womens-final-draws-18point7-million-viewers.html,2024-04-08T22:11:53+0000,"The NCAA Women's Championship between Iowa and South Carolina set a record on Sunday, drawing 18.7 million viewers on ABC and ESPN.The game peaked at 24 million viewers, ESPN said, and was the most-watched NCAA women's college basketball game since 1992. Viewership jumped 89% from last year's women's championship and 285% from 2022, according to ESPN.The championship, which saw Caitlin Clark-led Iowa fall to South Carolina, was the most-watched basketball game, either men's or women's and college or professional, since 2019.""With a record-setting audience of 18.7 million viewers, Sunday's Iowa-South Carolina title game was a fitting finale to the most-viewed ever NCAA Women's Basketball Tournament,"" said ESPN Chairman Jimmy Pitaro in a statement. ""These exceptional athletes, coaches and teams captured our attention in unprecedented ways and it's incumbent on all of us to keep the incredible momentum going.""The semifinals between Iowa and the University of Connecticut last week also shattered viewership records, peaking at 17 million viewers, according to ESPN.The growth was driven in part by players such as Clark, who has drawn comparisons to some of the sport's greatest of all time, fueling interest in women's basketball and attracting new viewers. Clark, 22, has dominated the court and set several records, luring in more fans with the ""Caitlin Clark Effect.""The March Madness tournament was the latest in a series of lightning rod moments for women's sports in recent months.Women's sports broke records in 2023, with estimates from Deloitte predicting that revenue generated by women's elite sports could surpass $1 billion this year — that is a 300% increase from just three years ago.Between groundbreaking media deals for women's sports and private investors and celebrities alike looking to get in, valuations for women's sports have been driven to record levels.",CNBC,08/04/2024,"[""The NCAA Women's Championship between Iowa and South Carolina set a record on Sunday, drawing 18.7 million viewers on ABC and ESPN.The game peaked at 24 million viewers, ESPN said, and was the most-watched NCAA women's college basketball game since 1992."", 'Viewership jumped 89% from last year\'s women\'s championship and 285% from 2022, according to ESPN.The championship, which saw Caitlin Clark-led Iowa fall to South Carolina, was the most-watched basketball game, either men\'s or women\'s and college or professional, since 2019.""With a record-setting audience of 18.7 million viewers, Sunday\'s Iowa-South Carolina title game was a fitting finale to the most-viewed ever NCAA Women\'s Basketball Tournament,"" said ESPN Chairman Jimmy Pitaro in a statement. ""', ""These exceptional athletes, coaches and teams captured our attention in unprecedented ways and it's incumbent on all of us to keep the incredible momentum going."", '""The semifinals between Iowa and the University of Connecticut last week also shattered viewership records, peaking at 17 million viewers, according to ESPN.The growth was driven in part by players such as Clark, who has drawn comparisons to some of the sport\'s greatest of all time, fueling interest in women\'s basketball and attracting new viewers.', 'Clark, 22, has dominated the court and set several records, luring in more fans with the ""Caitlin Clark Effect.', '""The March Madness tournament was the latest in a series of lightning rod moments for women\'s sports in recent months.', ""Women's sports broke records in 2023, with estimates from Deloitte predicting that revenue generated by women's elite sports could surpass $1 billion this year — that is a 300% increase from just three years ago."", ""Between groundbreaking media deals for women's sports and private investors and celebrities alike looking to get in, valuations for women's sports have been driven to record levels.""]",0.18015693465326,"""The semifinals between Iowa and the University of Connecticut last week also shattered viewership records, peaking at 17 million viewers, according to ESPN.The growth was driven in part by players such as Clark, who has drawn comparisons to some of the sport's greatest of all time, fueling interest in women's basketball and attracting new viewers.","""The March Madness tournament was the latest in a series of lightning rod moments for women's sports in recent months.",0.9979097843170166,"Viewership jumped 89% from last year's women's championship and 285% from 2022, according to ESPN.The championship, which saw Caitlin Clark-led Iowa fall to South Carolina, was the most-watched basketball game, either men's or women's and college or professional, since 2019.""With a record-setting audience of 18.7 million viewers, Sunday's Iowa-South Carolina title game was a fitting finale to the most-viewed ever NCAA Women's Basketball Tournament,"" said ESPN Chairman Jimmy Pitaro in a statement. """,,2024-04-11 -Minneapolis gives Uber and Lyft a reason to stick around — at least until July,https://edition.cnn.com/2024/04/11/business/uber-lyft-minneapolis-date-change/index.html," - Updated - 12:56 PM EDT, Thu April 11, 2024 - ","Lyft and Uber have reversed plans to leave Minneapolis on May 1 after a new minimum wage for rideshare drivers, originally set to go into effect that day, was delayed two months after the city council passed a measure Thursday to extend the deadline. - - The issue stems from a March decision by the city council to override the mayor’s veto of a minimum wage for rideshare drivers, set at the local rate of $15.57 an hour. That prompted Uber and Lyft to announce they’re ending operations in the city. - - Minneapolis City Council unanimously passed an extension at this morning’s meeting to push the effective date to July 1, allowing time for lawmakers to hammer out a compromise in the minimum wage law and give more time for new ride-hailing services to start. - - Uber said in a statement Thursday that the council’s action “paves the way for all stakeholders to work with [Minnesota] leaders on a statewide solution that raises pay at the state level, protects flexibility and keeps rides affordable.” It will operate in the state until at least July 1. - - Lyft, which also confirmed it will continue operating until July 1, said in a statement Thursday that it was “encouraged the Council is recognizing the flaws in their incredibly damaging ordinance.” - - Mayor Jacob Frey, a Democrat, said he supported a minimum wage for rideshare drivers but opposed the ordinance because it didn’t factor in a Minnesota state study that analyzed how much drivers should be paid. - - The ordinance mandates rideshare drivers make at least $1.40 per mile and $0.51 per minute within Minneapolis. However, the analysis Frey referred to showed lower numbers — $0.89 per mile and $0.49 per minute. - - Now some council members want to amend the ordinance and lower the per-mile rate to $1.21, but maintain the proposed per-minute rate of $0.51. - - “Leadership in decision-making entails gathering information, consulting stakeholders, and making informed choices, while also embracing uncertainty and adapting to new information,” the statement from the council members said, according to CNN affiliate KARE-TV. - - “Our goals have and continue to be to ensure fair wages for drivers, stability for drivers and riders, and a healthy, competitive market. With this amendment, we can accomplish those goals.” - - The statement was released by Council President Elliott Payne and Council Members Katie Cashman and Aurin Chowdhury. - - This story has been updated with the latest details.",CNN,11/04/2024,"['Lyft and Uber have reversed plans to leave Minneapolis on May 1 after a new minimum wage for rideshare drivers, originally set to go into effect that day, was delayed two months after the city council passed a measure Thursday to extend the deadline.', 'The issue stems from a March decision by the city council to override the mayor’s veto of aminimum wagefor rideshare drivers, set at the local rate of $15.57 an hour.', 'That prompted Uber and Lyft to announce they’re ending operations in the city.', 'Minneapolis City Council unanimously passed an extension at this morning’s meeting to push the effective date to July 1, allowing time for lawmakers to hammer out a compromise in the minimum wage law and give more time for new ride-hailing services to start.', 'Uber said in a statement Thursday that the council’s action “paves the way for all stakeholders to work with [Minnesota] leaders on a statewide solution that raises pay at the state level, protects flexibility and keeps rides affordable.”', 'It will operate in the state until at least July 1.', 'Lyft, which also confirmed it will continue operating until July 1, said in a statement Thursday that it was “encouraged the Council is recognizing the flaws in their incredibly damaging ordinance.”', 'Mayor Jacob Frey, a Democrat, said he supported a minimum wage for rideshare drivers but opposed the ordinance because it didn’t factor in a Minnesota state study that analyzed how much drivers should be paid.', 'Theordinancemandates rideshare drivers make at least $1.40 per mile and $0.51 per minute within Minneapolis.', 'However, theanalysisFrey referred to showed lower numbers — $0.89 per mile and $0.49 per minute.', 'Now some council members want to amend the ordinance and lower the per-mile rate to $1.21, but maintain the proposed per-minute rate of $0.51.', '“Leadership in decision-making entails gathering information, consulting stakeholders, and making informed choices, while also embracing uncertainty and adapting to new information,” the statement from the council members said, according to CNN affiliate KARE-TV.', '“Our goals have and continue to be to ensure fair wages for drivers, stability for drivers and riders, and a healthy, competitive market.', 'With this amendment, we can accomplish those goals.”', 'The statement was released by Council President Elliott Payne and Council Members Katie Cashman and Aurin Chowdhury.', 'This story has been updated with the latest details.']",0.0891374273855298,"“Our goals have and continue to be to ensure fair wages for drivers, stability for drivers and riders, and a healthy, competitive market.","“Leadership in decision-making entails gathering information, consulting stakeholders, and making informed choices, while also embracing uncertainty and adapting to new information,” the statement from the council members said, according to CNN affiliate KARE-TV.",0.4121132237570626,"Uber said in a statement Thursday that the council’s action “paves the way for all stakeholders to work with [Minnesota] leaders on a statewide solution that raises pay at the state level, protects flexibility and keeps rides affordable.”","However, theanalysisFrey referred to showed lower numbers — $0.89 per mile and $0.49 per minute.",2024-04-11 -World of Warcraft: Popular game to return to China,https://www.bbc.co.uk/news/articles/czq5xyj2dw2o,2024-04-10T04:46:07.063Z,"Popular games such as World of Warcraft will be back in China this summer, according to Chinese video games giant NetEase. Last year, NetEase and game developer Activision Blizzard ended their 14-year partnership due to disagreement over intellectual property control. The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games. All games require a local publisher and licences from the Chinese government to operate there. The earlier disagreement escalated into an open feud that saw the two companies sue each other. But the tension eased after Microsoft acquired Activision Blizzard for $69bn (£54bn) in October last year which was the gaming industry's biggest ever deal. “We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. ""We are focused on bringing our universes back to players with excellence and dedication."" Other Blizzard titles which will return to China include Hearthstone, Warcraft, Overwatch, Diablo and StarCraft franchises. China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year. NetEase is the country's second-largest video games company by revenue after Tencent. Microsoft and NetEase also said that they have agreed to explore bringing new NetEase titles to Microsoft's Xbox gaming consoles and its other gaming platforms. “Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming. The lucrative sector has also had frequent run-ins with the authorities. Beijing first moved against the gaming sector in 2021, ruling that online gamers under the age of 18 would only be allowed to play for an hour on Fridays, weekends and holidays. Late last year, the authorities announced further restrictions to limit in-game purchases but China seems to have backtracked on strict rules to combat what the regulator deemed ""obsessive"" gaming. ",BBC,10/04/2024,"['Popular games such as World of Warcraft will be back in China this summer, according to Chinese video games giant NetEase.', 'Last year, NetEase and game developer Activision Blizzard ended their 14-year partnership due to disagreement over intellectual property control.', 'The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.', 'All games require a local publisher and licences from the Chinese government to operate there.', 'The earlier disagreement escalated into an open feud that saw the two companies sue each other.', ""But the tension eased after Microsoft acquired Activision Blizzard for $69bn (£54bn) in October last year which was the gaming industry's biggest ever deal. “"", 'We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. ""', 'We are focused on bringing our universes back to players with excellence and dedication.""', 'Other Blizzard titles which will return to China include Hearthstone, Warcraft, Overwatch, Diablo and StarCraft franchises.', ""China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year."", ""NetEase is the country's second-largest video games company by revenue after Tencent."", ""Microsoft and NetEase also said that they have agreed to explore bringing new NetEase titles to Microsoft's Xbox gaming consoles and its other gaming platforms. “"", 'Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming.', 'The lucrative sector has also had frequent run-ins with the authorities.', 'Beijing first moved against the gaming sector in 2021, ruling that online gamers under the age of 18 would only be allowed to play for an hour on Fridays, weekends and holidays.', 'Late last year, the authorities announced further restrictions to limit in-game purchases but China seems to have backtracked on strict rules to combat what the regulator deemed ""obsessive"" gaming.']",0.0883152421946721,"We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. """,The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.,0.2293050050735473,"China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year.",The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.,2024-04-11 -Taylor Swift’s music is back on TikTok ahead of her latest album’s release,https://edition.cnn.com/2024/04/11/business/taylor-swift-tiktok-return-universal-dispute/index.html," - Published - 1:05 PM EDT, Thu April 11, 2024 - ","Taylor Swift’s music is back on TikTok following an ongoing dispute with her music distributor Universal Music Group over royalties. - - The return of her songs on the popular social platform comes as she is set to release her latest and much-anticipated album, ���The Tortured Poets Department,” next week. On Thursday, CNN was able to locate Swift’s songs in TikTok’s music catalog, which can be used for anyone creating new videos. - - In January, Universal Music Group pulled music from its various artists, including Taylor Swift, Ariana Grande, Camila Cabello and Rihanna, after releasing a statement titled, “An open letter to the artist and songwriter community — why we must call time out on TikTok,” in which it said its licensing agreement with the platform was expiring. - - As a result, Universal artists’ music was removed from any TikTok videos with a notice that stated it had been removed due to copyright violation. - - Universal Music Group said at the time TikTok proposed paying its artists and songwriters “a fraction of the rate that similarly situated major social platforms pay.” - - “Ultimately TikTok is trying to build a music-based business, without paying fair value for the music,” it said in a statement. - - Still, Universal said TikTok accounts for only about 1% of its total revenue. - - The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.” - - It’s unclear what terms have been met upon Swift’s return to TikTok. Universal Music Group, TikTok and Taylor Swift’s spokesperson did not respond to a request for comment. Music from other Universal artists’ is still not listed on the platform. - - Swift announced her latest album while accepting her 13th Grammy award in February. Since then, she’s been teasing album covers, song titles and a countdown to its Friday April 19 release on social platforms. It will be her 11th studio album.",CNN,11/04/2024,"['Taylor Swift’s music is back on TikTok following an ongoing dispute with her music distributor Universal Music Group over royalties.', 'The return of her songs on the popular social platform comes as she is set to release her latest and much-anticipated album, “The Tortured Poets Department,” next week.', 'On Thursday, CNN was able to locate Swift’s songs in TikTok’s music catalog, which can be used for anyone creating new videos.', 'In January, Universal Music Group pulled music from its various artists, including Taylor Swift, Ariana Grande, Camila Cabello and Rihanna, after releasing a statement titled, “An open letter to the artist and songwriter community — why we must call time out on TikTok,” in which it said its licensing agreement with the platform was expiring.', 'As a result, Universal artists’ music was removed from any TikTok videos with a notice that stated it had been removed due to copyright violation.', 'Universal Music Group said at the time TikTok proposed paying its artists and songwriters “a fraction of the rate that similarly situated major social platforms pay.”', '“Ultimately TikTok is trying to build a music-based business, without paying fair value for the music,” it said in a statement.', 'Still, Universal said TikTok accounts for only about 1% of its total revenue.', 'The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.”', 'It’s unclear what terms have been met upon Swift’s return to TikTok.', 'Universal Music Group, TikTok and Taylor Swift’s spokesperson did not respond to a request for comment.', 'Music from other Universal artists’ is still not listed on the platform.', 'Swift announced her latest album while accepting her 13th Grammy award in February.', 'Since then, she’s been teasing album covers, song titles and a countdown to its Friday April 19 release on social platforms.', 'It will be her 11th studio album.']",0.0779910115756178,"The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.”","As a result, Universal artists’ music was removed from any TikTok videos with a notice that stated it had been removed due to copyright violation.",-0.945285975933075,,"The company also took issue with how TikTok is allowing AI-generated recordings to exist on the platform and is developing tools to “enable, promote and encourage” this type of music creation, which would “massively dilute the royalty pool for human artists.”",2024-04-11 -Buffalo Wild Wings leans into Go takeout format as a third of sales move off premises,https://www.cnbc.com/2024/04/11/buffalo-wild-wings-go-format-off-premise-sales.html,2024-04-11T14:29:51+0000,"In this articleBuffalo Wild Wings opened its 100th Go location on Wednesday in New York City, four years after unveiling the quick-service offshoot of its sports bar chain.BWW Go sells the chain's famous chicken wings and other classic menu items, but its locations are smaller and limited to delivery and takeout orders. For the sports bar chain, it's a way to make its brand even more ubiquitous, while offering customers more convenience.Since 2018, Buffalo Wild Wings has been a part of Inspire Brands, which is backed by private equity firm Roark Capital. Initially formed after a merger between BWW and Arby's, Inspire has since added other chains including Sonic Drive-In, Jimmy John's, Dunkin' and Baskin-Robbins.Inspire is reportedly considering going public in late 2024 or 2025 and seeking a valuation of $20 billion.BWW is the second-largest U.S. casual-dining chain in the bar and grill category with a market share of 14.4%, trailing only Dine Brands' Applebee's, according to Barclays research. It's carved out a chicken wing dominance among its closest competitors, serving more than 3 million gallons of ranch and blue cheese dressing in 2023.But the casual-dining segment has struggled, with publicly traded rivals like Chili's and Red Robin perpetually stuck in turnaround mode.Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents. A fast-growing spinoff like Go could make Inspire more enticing to potential public market investors.Opening a traditional Buffalo Wild Wings location requires anywhere from $2.44 million to $4.83 million in initial investment, depending on the restaurant's location and other factors, according to franchise disclosure documents. In comparison, a Go location will set a franchisee back roughly $560,000 to $1.05 million.While a BWW sports bar is around 6,000 square feet on average, a Go location is roughly 1,500 square feet. That means cheaper real estate that's faster to build and easier to operate.""With the ability to fit into smaller footprints, it has the recognition of an established brand with the unlimited potential of an emerging one,"" said Jack Litman, president of the Munson Group and franchisee of the 100th Go location.The Go format is primarily meant to reach the customers who sometimes don't want to ditch their couches for a sports bar.Before the pandemic, off-premise orders accounted for 15% of Buffalo Wild Wings sales, according to John Bowie, brand president at BWW. Now, takeout and delivery make up roughly a third of the BWW's sales.""This was an opportunity for us to take the takeout portion of the business, put it inside a freestanding unit and put it very conveniently located to where our customer is,"" Bowie told CNBC.As of Wednesday, BWW has branded its entire off-premise business under the Go name, too.BWW's off-premise growth mirrors that of the broader chicken wing category, which soared in popularity during the pandemic. Like pizza, chicken wings travel well when delivered, but they also offer more variety, with an array of sauces and rubs to switch up the flavor.While pizza chains like Domino's and Pizza Hut have seen their sales struggle since the pandemic as pizza fatigue sets in, chicken wings haven't slowed down in the same way.For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends. Bernstein analyst Danilo Gargiulo wrote in a February research note that Wingstop has the potential to be ""the next Domino's."" (Roark Capital previously owned Wingstop but exited its investment a year and a half after the chain's IPO.)Other chains are now also looking to chicken wings to bolster their sales. Restaurant Brands International's Popeyes added chicken wings to its menu permanently last year.BWW Go also gives the chain the opportunity to compete better with its fast-food rivals. The chain can tweak its limited menu to appeal to the customers looking for a convenient dinner.BWW Chief Marketing Officer Tristan Meline told CNBC in the future the chain may lean into offering more special sauces, menu items or deals to Go customers.BWW plans to keep adding to its current footprint of more than 1,300 sports bars, but Go will be opening locations at a much faster rate, according to Bowie.""It takes a long time to get a sports bar approval and to build a sports bar, but we've already seen with the 60 franchisees we have now that they can start stamping these out, and the growth will be very exciting,"" he said.BWW already has nearly 600 commitments from franchisees to open additional Go locations. About 85% of its operators also franchise with other chains owned by Inspire, like Dunkin' or Arby's.But the calls to franchise are also coming from outside of Inspire; Bowie said that he's been hearing from large franchisees that already operate multiple concepts.The chain plans to open another 50 Go locations by the end of the year.",CNBC,11/04/2024,"['In this articleBuffalo Wild Wings opened its 100th Go location on Wednesday in New York City, four years after unveiling the quick-service offshoot of its sports bar chain.', ""BWW Go sells the chain's famous chicken wings and other classic menu items, but its locations are smaller and limited to delivery and takeout orders."", ""For the sports bar chain, it's a way to make its brand even more ubiquitous, while offering customers more convenience."", 'Since 2018, Buffalo Wild Wings has been a part of Inspire Brands, which is backed by private equity firm Roark Capital.', ""Initially formed after a merger between BWW and Arby's, Inspire has since added other chains including Sonic Drive-In, Jimmy John's, Dunkin' and Baskin-Robbins."", 'Inspire is reportedly considering going public in late 2024 or 2025 and seeking a valuation of $20 billion.', ""BWW is the second-largest U.S. casual-dining chain in the bar and grill category with a market share of 14.4%, trailing only Dine Brands' Applebee's, according to Barclays research."", ""It's carved out a chicken wing dominance among its closest competitors, serving more than 3 million gallons of ranch and blue cheese dressing in 2023.But the casual-dining segment has struggled, with publicly traded rivals like Chili's and Red Robin perpetually stuck in turnaround mode."", ""Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents."", 'A fast-growing spinoff like Go could make Inspire more enticing to potential public market investors.', ""Opening a traditional Buffalo Wild Wings location requires anywhere from $2.44 million to $4.83 million in initial investment, depending on the restaurant's location and other factors, according to franchise disclosure documents."", 'In comparison, a Go location will set a franchisee back roughly $560,000 to $1.05 million.', 'While a BWW sports bar is around 6,000 square feet on average, a Go location is roughly 1,500 square feet.', ""That means cheaper real estate that's faster to build and easier to operate."", '""With the ability to fit into smaller footprints, it has the recognition of an established brand with the unlimited potential of an emerging one,"" said Jack Litman, president of the Munson Group and franchisee of the 100th Go location.', ""The Go format is primarily meant to reach the customers who sometimes don't want to ditch their couches for a sports bar."", 'Before the pandemic, off-premise orders accounted for 15% of Buffalo Wild Wings sales, according to John Bowie, brand president at BWW.', ""Now, takeout and delivery make up roughly a third of the BWW's sales."", '""This was an opportunity for us to take the takeout portion of the business, put it inside a freestanding unit and put it very conveniently located to where our customer is,"" Bowie told CNBC.As of Wednesday, BWW has branded its entire off-premise business under the Go name, too.', ""BWW's off-premise growth mirrors that of the broader chicken wing category, which soared in popularity during the pandemic."", 'Like pizza, chicken wings travel well when delivered, but they also offer more variety, with an array of sauces and rubs to switch up the flavor.', ""While pizza chains like Domino's and Pizza Hut have seen their sales struggle since the pandemic as pizza fatigue sets in, chicken wings haven't slowed down in the same way."", 'For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends.', 'Bernstein analyst Danilo Gargiulo wrote in a February research note that Wingstop has the potential to be ""the next Domino\'s."" (', ""Roark Capital previously owned Wingstop but exited its investment a year and a half after the chain's IPO.)Other chains are now also looking to chicken wings to bolster their sales."", ""Restaurant Brands International's Popeyes added chicken wings to its menu permanently last year."", 'BWW Go also gives the chain the opportunity to compete better with its fast-food rivals.', 'The chain can tweak its limited menu to appeal to the customers looking for a convenient dinner.', 'BWW Chief Marketing Officer Tristan Meline told CNBC in the future the chain may lean into offering more special sauces, menu items or deals to Go customers.', 'BWW plans to keep adding to its current footprint of more than 1,300 sports bars, but Go will be opening locations at a much faster rate, according to Bowie.', '""It takes a long time to get a sports bar approval and to build a sports bar, but we\'ve already seen with the 60 franchisees we have now that they can start stamping these out, and the growth will be very exciting,"" he said.', 'BWW already has nearly 600 commitments from franchisees to open additional Go locations.', ""About 85% of its operators also franchise with other chains owned by Inspire, like Dunkin' or Arby's."", ""But the calls to franchise are also coming from outside of Inspire; Bowie said that he's been hearing from large franchisees that already operate multiple concepts."", 'The chain plans to open another 50 Go locations by the end of the year.']",0.2747050126824321,"For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends.","BWW Go sells the chain's famous chicken wings and other classic menu items, but its locations are smaller and limited to delivery and takeout orders.",0.5683647394180298,"For example, fast-casual chain and stock market darling Wingstop has reported strong same-store sales growth for the last year and half, bucking industry trends.","Buffalo Wild Wings' revenue fell 1% in 2023 to $2.32 billion, according to franchise disclosure documents.",2024-04-11 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-04-11 -New York Community Bank’s online arm is paying the nation’s highest interest rate,https://www.cnbc.com/2024/04/10/nycb-is-paying-the-nations-highest-interest-rate-apy.html,2024-04-10T11:12:40+0000,"In this articleNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account.NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts.The standout rate could be a sign that NYCB is facing funding pressure, Tumin said.""It looks like they're trying really hard to attract deposits,"" Tumin said. ""My Banking Direct has been around for a long time, more than 10 years, so them having an aggressive rate could be a sign of neediness"" for funding.NYCB's woes began in January, when it said it was preparing for far greater losses on commercial real estate loans than analysts had expected. That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes. The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation.During a conference call held after the capital raise, analysts asked how NYCB managed to retain so much of its deposits during the tumultuous period.""We didn't do anything crazy relative to deposit pricing,"" NYCB chairman Sandro DiNello replied. ""We didn't go out and offer 6% CDs or something like that in order to make the numbers look good, if that's what you're concerned with.""NYCB didn't return a call for comment on its funding strategy.Joseph Otting, a former comptroller of the currency, took over as the bank's CEO on April 1, about a week before the rate increase.Despite the turnaround plan, shares of NYCB still trade for under $4 apiece and are off more than 68% year to date.Other banks offering rates higher than 5% right now tend to be newer or smaller players than NYCB, according to Tumin.Among established banks, the average high-yield savings rate is about 4.4%, and several of them (including American Express, Goldman Sachs and Ally) have dropped rates in the past month, he said. The NYCB rate also tops accounts listed on NerdWallet and Bankrate.Customer deposits at My Banking Direct are insured by the FDIC up to the standard $250,000.Over the past two years, savings account rates have broadly been on the rise.Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.""When a bank has to go out and advertise a much higher rate, it's typically because they have a deposit problem,"" Stucky said. ""It's not hard for customers to switch banks anymore.""",CNBC,10/04/2024,"[""In this articleNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account."", ""NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts."", 'The standout rate could be a sign that NYCB is facing funding pressure, Tumin said.', '""It looks like they\'re trying really hard to attract deposits,"" Tumin said. ""', 'My Banking Direct has been around for a long time, more than 10 years, so them having an aggressive rate could be a sign of neediness"" for funding.', ""NYCB's woes began in January, when it said it was preparing for far greater losses on commercial real estate loans than analysts had expected."", 'That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes.', ""The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation."", 'During a conference call held after the capital raise, analysts asked how NYCB managed to retain so much of its deposits during the tumultuous period.', '""Wedidn\'tdoanythingcrazyrelativetodepositpricing,"" NYCB chairman Sandro DiNello replied. ""', ""Wedidn't go out and offer 6% CDs or something like that in order to make the numbers look good, if that's what you're concerned with."", '""NYCB didn\'t return a call for comment on its funding strategy.', ""Joseph Otting, a former comptroller of the currency, took over as the bank's CEO on April 1, about a week before the rate increase."", 'Despite the turnaround plan, shares of NYCB still trade for under $4 apiece and are off more than 68% year to date.', 'Other banks offering rates higher than 5% right now tend to be newer or smaller players than NYCB, according to Tumin.', 'Among established banks, the average high-yield savings rate is about 4.4%, and several of them (including American Express, Goldman Sachs and Ally) have dropped rates in the past month, he said.', 'The NYCB rate also tops accounts listed on NerdWallet and Bankrate.', 'Customer deposits at My Banking Direct are insured by the FDIC up to the standard $250,000.Over the past two years, savings account rates have broadly been on the rise.', 'Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.', '""When a bank has to go out and advertise a much higher rate, it\'s typically because they have a deposit problem,"" Stucky said. ""', 'It\'s not hard for customers to switch banks anymore.""']",0.0767157870111379,"The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation.","Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.",-0.4568496563217856,"NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts.","That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes.",2024-04-11 -Record levels of funding propel Denver-Boulder to the top of the life sciences market,https://www.cnbc.com/2024/04/08/record-funding-propels-denver-boulders-life-sciences-market.html,2024-04-10T19:37:28+0000,"In this articleThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.The Denver-Boulder region is rapidly emerging as a major hub for the life sciences industry, attracting companies that develop cutting-edge medical treatments and technologies.Life sciences research aims to understand living things, from cells to our planet, to improve health, food and the environment. The funding growth is being fueled by a combination of factors: a surge in venture capital and government funding, a collaborative research environment and a booming market for lab space.San Diego-based BioMed Realty, a major real estate player (acquired by Blackstone in 2016 for $8 billion), made headlines in 2022 with a record-breaking $625 million purchase of Flatiron Park, a massive complex in Boulder, Colorado. The 1 million square feet across 23 buildings is being converted into lab and tech space to meet the region's surging demand.""This was a logical next step … to invest in Boulder and scale,"" said Tim Schoen, BioMed Realty's president and CEO. ""Boulder has all the elements you want in an innovation ecosystem — research universities, scientists, venture capital, and then ourselves who provide the mission-critical infrastructure.""In addition to Boulder, the firm operates in five other core life science and tech markets including San Diego, San Francisco, Seattle, the Boston and Cambridge area in Massachusetts, and Cambridge, U.K.According to commercial real estate group CBRE, 14 companies were seeking a cumulative 506,000 square feet of lab space across the Denver-Boulder market in 2023, which includes the neighboring city of Aurora. In addition, the Denver-Boulder market saw 370,000 square feet of lab space completed and move-in ready with another 560,000 square feet under construction or renovation.""I would describe Boulder as unique and explosive. Unique from the standpoint of its setting at the foothills of the Rocky Mountains,"" said Schoen, ""and then explosive in terms of how the ecosystem has really grown and expanded over the last decade.""Investors are taking notice.""Investors from Colorado as well as across the coasts are seeing opportunities here,"" said Elyse Blazevich, president and CEO of the Colorado Bioscience Association. ""Our ecosystem has raised in excess of a billion dollars for the past seven consecutive years — and early stage funding in Colorado in 2023 grew faster than other life sciences markets around the country.""Founded in 2003, the Bioscience Association supports the growth of life sciences, with a focus on access to capital, education, networking and more.According to Blazevich, funding for pre-seed ventures, series A and series B rounds increased from 2022 to 2023. The biggest increase was seen in series A and series B funding, which grew by $53 million, or 28%, year over year. Pre-seed funding, the earliest stage of venture capital, grew by $18 million, surging 163%, over that time period.A recent CBRE report found Denver-Boulder to be the top U.S. life sciences real estate market, fueled by record investment from venture capitalists and the National Institutes of Health.The report also found the pool of qualified workers in life sciences is growing much faster in the region than the national average, growing 35% over the past five years, compared to 16% growth for the U.S. overall.The recent surge in venture capital flowing into Denver-Boulder builds on the area's proven track record of success over the past several decades.In 1998, entrepreneur Kevin Koch co-founded biotech company Array BioPharma in Boulder. The company was acquired by Pfizer for $10.64 billion in 2019, and now Koch is co-founder and CEO of clinical-stage startup Edgewise Therapeutics.Edgewise develops therapies for rare muscle disorders and generated net proceeds of $186.1 million in its initial public offering in March 2021.But the company started small.""We were in an incubator within the University of Colorado. And we brought in talented folks from the University of Colorado,"" Koch told CNBC. ""We had interns come in, who ultimately became employees.""Today, Edgewise has a much bigger space in Boulder: 28,000 square feet in total, with half of its 93 employees working in the city office. The company plans to expand its footprint and to hire more workers in the coming years.Koch said the Boulder region's history of research into DNA and RNA in the 1980s was key to unlocking protein-based medicines to battle disease, which helped to attract capital to the life science hub.""[That research] nucleated investment in the Boulder area,"" he said. ""Now, those companies that commercialized those products, they reinvested in Boulder.""With the help of top venture firms, Edgewise Therapeutics has raised more than half a billion dollars — $550 million in cash runway through 2027.""We decided that Boulder really was the right place. And I think it turns out that that was the case. We've been able to attract a lot of fantastic talent,"" Koch said.Denver-Boulder's innovation ecosystem is churning out ideas, fast.Aurora, Denver's biggest suburb, is the epicenter of life sciences research: a 256-acre complex that's home to the University of Colorado's Anschutz Medical Campus, which receives $700 million in annual grant funding.Dan LaBarbera is professor of pharmaceutical sciences and founding director of the medical campus's Center for Drug Discovery.""Our goal here at the Center for Drug Discovery is to function as a bridge to move innovation from academia, to industry, and then to the clinic,"" LaBarbera told CNBC.Founded in 2021, the center develops drugs for a wide range of diseases from cancer to Alzheimer's — using state-of-the-art technology including robots and 3D bioprinters.""I think people in general are familiar with 3D printers, in their ability to print plastics, or even metals,"" LaBarbera said. ""We're using very similar technologies to print complex tissues that mimic aspects of human disease.""Historically, it took roughly 10 to 15 years for a drug to move from discovery phase to approval from the U.S. Food and Drug Administration.""Now we can expedite that with this technology to make that process roughly six to eight years,"" LaBarbera said.The center helps shorten the timeline from drug discovery to treatment, aiding startups and existing companies to get breakthrough medications to patients faster.""Our goal is not to compete with the pharmaceutical industry,"" said LaBarbera. ""Our goal is actually to work with them to develop really innovative potential drug therapies.""TUNE IN: The ""Cities of Success"" special featuring Denver & Boulder will air on CNBC on April 11 at 10 p.m. ET.",CNBC,10/04/2024,"[""In this articleThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", 'The Denver-Boulder region is rapidly emerging as a major hub for the life sciences industry, attracting companies that develop cutting-edge medical treatments and technologies.', 'Life sciences research aims to understand living things, from cells to our planet, to improve health, food and the environment.', 'The funding growth is being fueled by a combination of factors: a surge in venture capital and government funding, a collaborative research environment and a booming market for lab space.', 'San Diego-based BioMed Realty, a major real estate player (acquired by Blackstone in 2016 for $8 billion), made headlines in 2022 with a record-breaking $625 million purchase of Flatiron Park, a massive complex in Boulder, Colorado.', ""The 1 million square feet across 23 buildings is being converted into lab and tech space to meet the region's surging demand."", '""This was a logical next step … to invest in Boulder and scale,"" said Tim Schoen, BioMed Realty\'s president and CEO. ""', 'Boulder has all the elements you want in an innovation ecosystem — research universities, scientists, venture capital, and then ourselves who provide the mission-critical infrastructure.', '""In addition to Boulder, the firm operates in five other core life science and tech markets including San Diego, San Francisco, Seattle, the Boston and Cambridge area in Massachusetts, and Cambridge, U.K.According to commercial real estate group CBRE, 14 companies were seeking a cumulative 506,000 square feet of lab space across the Denver-Boulder market in 2023, which includes the neighboring city of Aurora.', 'In addition, the Denver-Boulder market saw 370,000 square feet of lab space completed and move-in ready with another 560,000 square feet under construction or renovation.', '""I would describe Boulder as unique and explosive.', 'Unique from the standpoint of its setting at the foothills of the Rocky Mountains,"" said Schoen, ""and then explosive in terms of how the ecosystem has really grown and expanded over the last decade.', '""Investors are taking notice.', '""Investors from Colorado as well as across the coasts are seeing opportunities here,"" said Elyse Blazevich, president and CEO of the Colorado Bioscience Association. ""', 'Our ecosystem has raised in excess of a billion dollars for the past seven consecutive years — and early stage funding in Colorado in 2023 grew faster than other life sciences markets around the country.', '""Founded in 2003, the Bioscience Association supports the growth of life sciences, with a focus on access to capital, education, networking and more.', 'According to Blazevich, funding for pre-seed ventures, series A and series B rounds increased from 2022 to 2023.', 'The biggest increase was seen in series A and series B funding, which grew by $53 million, or 28%, year over year.', 'Pre-seed funding, the earliest stage of venture capital, grew by $18 million, surging 163%, over that time period.', 'A recent CBRE report found Denver-Boulder to be the top U.S. life sciences real estate market, fueled by record investment from venture capitalists and the National Institutes of Health.', 'The report also found the pool of qualified workers in life sciences is growing much faster in the region than the national average, growing 35% over the past five years, compared to 16% growth for the U.S. overall.', ""The recent surge in venture capital flowing into Denver-Boulder builds on the area's proven track record of success over the past several decades."", 'In 1998, entrepreneur Kevin Koch co-founded biotech company Array BioPharma in Boulder.', 'The company was acquired by Pfizer for $10.64 billion in 2019, and now Koch is co-founder and CEO of clinical-stage startup Edgewise Therapeutics.', 'Edgewise develops therapies for rare muscle disorders and generated net proceeds of $186.1 million in its initial public offering in March 2021.But the company started small.', '""We were in an incubator within the University of Colorado.', 'And we brought in talented folks from the University of Colorado,"" Koch told CNBC. ""', 'We had interns come in, who ultimately became employees.', '""Today, Edgewise has a much bigger space in Boulder: 28,000 square feet in total, with half of its 93 employees working in the city office.', 'The company plans to expand its footprint and to hire more workers in the coming years.', ""Koch said the Boulder region's history of research into DNA and RNA in the 1980s was key to unlocking protein-based medicines to battle disease, which helped to attract capital to the life science hub."", '""[That research] nucleated investment in the Boulder area,"" he said. ""', 'Now, those companies that commercialized those products, they reinvested in Boulder.', '""With the help of top venture firms, Edgewise Therapeutics has raised more than half a billion dollars — $550 million in cash runway through 2027.""We decided that Boulder really was the right place.', 'And I think it turns out that that was the case.', 'We\'ve been able to attract a lot of fantastic talent,"" Koch said.', ""Denver-Boulder's innovation ecosystem is churning out ideas, fast."", ""Aurora, Denver's biggest suburb, is the epicenter of life sciences research: a 256-acre complex that's home to the University of Colorado's Anschutz Medical Campus, which receives $700 million in annual grant funding."", ""Dan LaBarbera is professor of pharmaceutical sciences and founding director of the medical campus's Center for Drug Discovery."", '""Our goal here at the Center for Drug Discovery is to function as a bridge to move innovation from academia, to industry, and then to the clinic,"" LaBarbera told CNBC.Founded in 2021, the center develops drugs for a wide range of diseases from cancer to Alzheimer\'s — using state-of-the-art technology including robots and 3D bioprinters.', '""I think people in general are familiar with 3D printers, in their ability to print plastics, or even metals,"" LaBarbera said. ""', ""We're using very similar technologies to print complex tissues that mimic aspects of human disease."", '""Historically, it took roughly 10 to 15 years for a drug to move from discovery phase to approval from the U.S. Food and Drug Administration.', '""Now we can expedite that with this technology to make that process roughly six to eight years,"" LaBarbera said.', 'The center helps shorten the timeline from drug discovery to treatment, aiding startups and existing companies to get breakthrough medications to patients faster.', '""Our goal is not to compete with the pharmaceutical industry,"" said LaBarbera. ""', 'Our goal is actually to work with them to develop really innovative potential drug therapies.', '""TUNE IN: The ""Cities of Success"" special featuringDenver & Boulderwill air on CNBC on April 11 at 10 p.m. ET.']",0.2185394731886792,"We've been able to attract a lot of fantastic talent,"" Koch said.","""Our goal here at the Center for Drug Discovery is to function as a bridge to move innovation from academia, to industry, and then to the clinic,"" LaBarbera told CNBC.Founded in 2021, the center develops drugs for a wide range of diseases from cancer to Alzheimer's — using state-of-the-art technology including robots and 3D bioprinters.",0.9898780243737356,Our ecosystem has raised in excess of a billion dollars for the past seven consecutive years — and early stage funding in Colorado in 2023 grew faster than other life sciences markets around the country.,,2024-04-11 -"Macy's settles proxy fight with activist Arkhouse, adds two of the firm's nominees as directors",https://www.cnbc.com/2024/04/10/macys-settles-proxy-fight-with-activist-arkhouse-adds-two-directors.html,2024-04-10T18:59:22+0000,"In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board.Ric Clark and Rick Markee will join Macy's board effective immediately. They'll be part of the committee that's in charge of overseeing and evaluating Arkhouse's bid to take the department store private and making recommendations to the board on its acquisition proposal. ""The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously,"" Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane said. ""We appreciate the Board's engagement and look forward to working with them to unlock shareholder value.""Clark has spent nearly 40 years in the real estate industry and previously served as chairman and CEO of Brookfield Property Group, Brookfield Property Partners and Brookfield Office Properties. Markee brings retail chops to Macy's board: He previously served as the CEO of Vitamin Shoppe and currently sits on the board of discount retailer Five Below.Macy's shares fell slightly in intraday trading Wednesday.The reshuffle comes as Arkhouse makes strides in its efforts to take the 165-year-old department store private, a deal that Macy's had previously resisted. The department store has provided the Arkhouse-led investor group with confidential business information as the two sides continue to negotiate the terms of a possible sale. ""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders,"" Macy's said in a statement. Arkhouse first submitted an offer to take the retailer private in 2023. The investor, which is working in concert with Brigade Management, has since increased its offer multiple times. The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.The storied retailer has struggled to hold on to its market share as it faces increased competition from retailers like TJX Companies, the owner of TJ Maxx, and Target. Department stores have had to work harder to differentiate themselves and entice customers as brands move away from wholesalers and work to drive sales through their own website and stores. Macy's said in February that it would close around 150 of its roughly 500 stores, just weeks after CEO Tony Spring stepped into the top job, and has laid off thousands of workers in recent years. Macy's has attracted activist attention before. Starboard Value, a well-established investor in the space, took a position in the retailer in 2015, only to sell it off two years later after a potential acquisition fizzled.Arkhouse's bid differs from past engagements at the company. The real estate investor seeks to take the company private, remove it from the rigors of the public market and monetize its real estate assets. During a meeting with JPMorgan retail analysts, Arkhouse said it views Macy's as a ""real estate company with an Adjacent Retail Business"" because it thinks the department store's owned real estate is worth more than the current enterprise value of the company, according to a March research note. ""The key distinction stated in Arkhouse's thesis is to run the organization as a real estate operator with a focus on improving the fundamental creditworthiness of Macy's as a tenant driven by EBITDA dollar growth as a private company,"" the research note stated. ""To be clear, Arkhouse does not believe in selling Macy's real estate assets in short order, but intends to own the assets and monetize on the real estate via financing (not outright asset sales) to provide cash for shareholder returns or for business reinvestments.""In a subsequent meeting with Macy's brass, CEO Tony Spring disagreed with Arkhouse's view. ""We do not believe we are a real estate company first and that all decisions should be looked at through the prism of real estate,"" Spring said, according to a JPMorgan research note. The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.",CNBC,10/04/2024,"[""In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board."", ""Ric Clark and Rick Markee will join Macy's board effective immediately."", ""They'll be part of the committee that's in charge of overseeing and evaluating Arkhouse's bid to take the department store private and making recommendations to the board on its acquisition proposal."", '""The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously,"" Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane said. ""', ""We appreciate the Board's engagement and look forward to working with them to unlock shareholder value."", '""Clark has spent nearly 40 years in the real estate industry and previously served as chairman and CEO of Brookfield Property Group, Brookfield Property Partners and Brookfield Office Properties.', ""Markee brings retail chops to Macy's board: He previously served as the CEO of Vitamin Shoppe and currently sits on the board of discount retailer Five Below."", ""Macy's shares fell slightly in intraday trading Wednesday."", ""The reshuffle comes as Arkhouse makes strides in its efforts to take the 165-year-old department store private, a deal that Macy's had previously resisted."", 'The department store has provided the Arkhouse-led investor group with confidential business information as the two sides continue to negotiate the terms of a possible sale.', '""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy\'s, Inc. shareholders,"" Macy\'s said in a statement.', 'Arkhouse first submitted an offer to take the retailer private in 2023.', 'The investor, which is working in concert with Brigade Management, has since increased its offer multiple times.', 'The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.', 'The storied retailer has struggled to hold on to its market share as it faces increased competition from retailers like TJX Companies, the owner of TJ Maxx, and Target.', 'Department stores have had to work harder to differentiate themselves and entice customers as brands move away from wholesalers and work to drive sales through their own website and stores.', ""Macy's said in February that it would close around 150 of its roughly 500 stores, just weeks after CEO Tony Spring stepped into the top job, and has laid off thousands of workers in recent years."", ""Macy's has attracted activist attention before."", 'Starboard Value, a well-established investor in the space, took a position in the retailer in 2015, only to sell it off two years later after a potential acquisition fizzled.', ""Arkhouse's bid differs from past engagements at the company."", 'The real estate investor seeks to take the company private, remove it from the rigors of the public market and monetize its real estate assets.', 'During a meeting with JPMorgan retail analysts, Arkhouse said it views Macy\'s as a ""real estate company with an Adjacent Retail Business"" because it thinks the department store\'s owned real estate is worth more than the current enterprise value of the company, according to a March research note.', '""The key distinction stated in Arkhouse\'s thesis is to run the organization as a real estate operator with a focus on improving the fundamental creditworthiness of Macy\'s as a tenant driven by EBITDA dollar growth as a private company,"" the research note stated.', '""To be clear, Arkhouse does not believe in selling Macy\'s real estate assets in short order, but intends to own the assets and monetize on the real estate via financing (not outright asset sales) to provide cash for shareholder returns or for business reinvestments.', '""In a subsequent meeting with Macy\'s brass, CEO Tony Spring disagreed with Arkhouse\'s view.', '""We do not believe we are a real estate company first and that all decisions should be looked at through the prism of real estate,"" Spring said, according to a JPMorgan research note.', ""The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.""]",0.245258692028108,"""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders,"" Macy's said in a statement.","In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board.",0.3982523571361195,"The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.",Macy's shares fell slightly in intraday trading Wednesday.,2024-04-11 -Mortgage rates rise after disappointing March inflation report,https://edition.cnn.com/2024/04/11/economy/mortgage-rates-april-11/index.html," - Updated - 1:10 PM EDT, Thu April 11, 2024 - ","Mortgage rates drifted higher this week, and could increase further, in a sign that America’s affordability crisis isn’t letting up. - - The 30-year fixed-rate mortgage averaged 6.88% in the week ending April 11, up from 6.82% the previous week, according to Freddie Mac data released Thursday. A year ago, the average 30-year fixed-rate was 6.27%. - - Rates have mostly held steady in the past several weeks, but they could rise even higher, potentially crossing the uncomfortable psychological threshold of 7%, if inflation proves to be more stubborn than expected. - - The Federal Reserve doesn’t directly set mortgage rates, but its actions do influence them, and hotter-than-expected inflation readings could keep the central bank from reducing interest rates. - - “Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” said Sam Khater, Freddie Mac’s chief economist, in a release. “While newly released inflation data from March continues to show a trend of very little movement, the financial market’s reaction paints a far different economic picture.” - - Mortgage rates track the benchmark yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions. The yield topped 4.5% Wednesday, the highest level since November, after the latest Consumer Price Index showed persistent price pressures in March. That doesn’t bode well for lower mortgage rates, and economists don’t expect rates to fall below 6% this year, especially if the Fed does not end up cutting interest rates. - - But, for now, officials are still expecting to cut rates at some point this year, though that may happen later than previously expected. That could help alleviate some pressure in the country’s tough housing market. - - Mortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability. The National Association of Realtors said that more homes came to market in February, which helped drive up sales that month. - - Homeowners who locked in a low mortgage rate before the Fed began to lift rates in 2022 have largely preferred not to sell in recent years, contributing to historically low inventory. That may be starting to change. - - Total housing inventory rose 5.9% in February from January, to 1.07 million units. Inventory was up 10.3% in February from a year earlier, giving buyers more choices and helping ease some upward pressure on prices. - - A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers. President Joe Biden has laid out proposals to fix the housing market, such as tax credits and homebuilding initiatives but, even if they receive congressional approval, it’s unclear whether that will be enough. - - Despite recent improvements, and even if the Fed does cut rates, as it has indicated, the main issue continues to be that supply simply is not keeping up with demand, keeping a home purchase out of reach for the vast majority of Americans.",CNN,11/04/2024,"['Mortgage rates drifted higher this week, and could increase further, in a sign that America’s affordability crisis isn’t letting up.', 'The 30-year fixed-rate mortgage averaged 6.88% in the week ending April 11, up from 6.82% the previous week, according to Freddie Mac data released Thursday.', 'A year ago, the average 30-year fixed-rate was 6.27%.', 'Rates have mostly held steady in the past several weeks, but they could rise even higher, potentially crossing the uncomfortable psychological threshold of 7%, if inflation proves to be more stubborn than expected.', 'The Federal Reserve doesn’t directly set mortgage rates, but its actions do influence them, and hotter-than-expected inflation readings could keep the central bank from reducing interest rates.', '“Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” said Sam Khater, Freddie Mac’s chief economist, in a release. “', 'Whilenewly releasedinflation data fromMarch continues to show a trend of very little movement, the financial market’sreactionpaints a far differenteconomicpicture.”', 'Mortgage rates track the benchmark yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions.', 'The yield topped 4.5% Wednesday, the highest level since November, after the latest Consumer Price Index showed persistent price pressures in March.', 'That doesn’t bode well for lower mortgage rates, and economists don’t expect rates to fall below 6% this year, especially if the Fed does not end up cutting interest rates.', 'But, for now, officials are still expecting to cut rates at some point this year, though that may happen later than previously expected.', 'That could help alleviate some pressure in the country’s tough housing market.', 'Mortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability.', 'The National Association of Realtors said that more homes came to market in February, which helped drive up sales that month.', 'Homeowners who locked in a low mortgage rate before the Fed began to lift rates in 2022 have largely preferred not to sell in recent years, contributing to historically low inventory.', 'That may be starting to change.', 'Total housing inventory rose 5.9% in February from January, to 1.07 million units.', 'Inventory was up 10.3% in February from a year earlier, giving buyers more choices and helping ease some upward pressure on prices.', 'A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers.', 'President Joe Biden has laid out proposals to fix the housing market, such as tax credits and homebuilding initiatives but, even if they receive congressional approval, it’s unclear whether that will be enough.', 'Despite recent improvements, and even if the Fed does cut rates, as it has indicated, the main issue continues to be that supply simply is not keeping up with demand, keeping a home purchase out of reach for the vast majority of Americans.']",-0.0104837723884077,"Mortgage rates are not expected to drop meaningfully this year, but further improvement in housing inventory could improve affordability.","Rates have mostly held steady in the past several weeks, but they could rise even higher, potentially crossing the uncomfortable psychological threshold of 7%, if inflation proves to be more stubborn than expected.",0.1327732764184475,"Total housing inventory rose 5.9% in February from January, to 1.07 million units.",A lack of homes has been a longstanding issue keeping America’s housing market unaffordable and is especially frustrating for first-time buyers.,2024-04-11 -"Department stores face another squeeze. This time, with store credit card revenue",https://www.cnbc.com/2024/04/10/store-credit-cards-deal-department-stores-another-revenue-squeeze.html,2024-04-10T15:33:01+0000,"In this articleDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash. Starting this spring, though, those cards will become less lucrative. Late fees for customers will be capped at $8, down from an industry average of around $32, under a new rule from the Consumer Financial Protection Bureau. The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.Specialty retailers with store cards, such as Gap, will feel the pinch, but it'll be the most significant at department stores since their revenue is already under pressure, according to Jane Hali, CEO and retail analyst at equity research firm Jane Hali & Associates.""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.For fiscal 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom.Kohl's reported $924 million in ""other"" revenue in 2023, a broader category that includes unused gift cards and third-party advertising on its website, though Fitch Ratings estimates the majority of that revenue category is from credit cards.The three companies do not break out how much of total credit card revenue comes from late fees.Store-branded credit cards are a clear boon for retailers: They encourage purchases and come with virtually no overhead, said David Silverman, a retail analyst at Fitch Ratings.They're typically issued through financial services companies and banks, such as Synchrony Financial, TD Bank or Capital One. And they often come with extra perks for shoppers, such as additional discounts or rewards for repeat purchases.For retailers, the branded cards provide insights into customer behavior, since they track purchases, and can amount to a perpetual advertisement, right in customers' wallets, Silverman said.""If I'm constantly using my Macy's card or my Home Depot card or whatever it is, that brand is even more so part of my daily life,"" he said.Even before the CFPB ruling, retailers' credit cards faced challenges.Shoppers, particularly those who are younger, are paying in new ways like buy now, pay later, which allows a customer to pay back a purchase in installments. Use of buy now, pay later with online purchases between January and March totaled $19.2 billion, an increase of 12.3% from the year-ago period, according to Adobe Analytics, which analyzes online transactions across retail sites.Some customers are opting for credit cards that offer experience-based perks, such as access to airport lounges or early purchases of high-demand concert tickets.Plus, in a higher interest rate environment, getting customers to sign up for store cards or use them may be a trickier proposition. For retailer-issued credit cards, interest rates — also called APRs, or annual percentage rates — were about 29.33% on average as of early April, according Bankrate. That compares with an average of 20.75% for all U.S. credit cards.All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further.For all the millions brought in by private-label cards, they drive a small portion of retailers' net sales. The retailers' credit cards accounted for nearly 3% of Macy's net sales and a little over 3% of Nordstrom's net sales in the most recent fiscal year.Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies.Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year. Chief Operating Officer Michael Fiddelke said at an investor meeting in March that the discounter has seen softer spending on credit cards, but has been able to make it up with growth of its advertising business, Roundel.The big-box retailer recently relaunched its loyalty program as a three-tiered offering that includes a free tier, a paid annual membership and a credit card that's now called the Target Circle Card.Macy's, too, has dealt with falling credit card revenue. The segment's $619 million during the most recent fiscal year was a decline of about 28%. And the company said it expects that to tumble even further to between $475 million and $490 million for this fiscal year as net sales fall.That outlook doesn't take into account the credit card late fee ruling.Adrian Mitchell, chief operating officer and chief financial officer, told investors on the company's earnings call that Macy's is working with Citi, its financial partner, to try to offset the late fee ruling. It's also looking for strategies to increase customers' use of Macy's and Bloomingdale's credit cards, he said.Nordstrom, for its part, has reported year-over-year gains in credit card revenue for each of the past three years, though its haul is smaller than that of Kohl's, Macy's and Target. It downplayed the CFPB change, saying the average credit quality of its portfolio tends to be higher than other retailers, meaning it relies less on late fees.Gap does not disclose credit card revenue, but its chief financial officer, Katrina O'Connell, said on an earnings call that losses from late fees will be ""largely offset in 2024 by other levers within our credit card program."" The company declined to share specifics about those offsets.Some card issuers, such as Synchrony, have said they will make changes in the coming months, such as increasing APRs, to try to blunt the federal rule's effect. Synchrony is a major issuer of store cards, including the cards for Sam's Club and Lowe's.At Kohl's, it's a bit of a different story.Kohl's customers typically have lower household incomes than those of other retailers, such as Nordstrom, which makes them more likely to miss a payment and be subject to a late fee, said Lorraine Hutchinson, a research analyst at Bank of America.And, off-mall department store retailer Kohl's is chasing a turnaround under CEO Tom Kingsbury, the former chief of off-price chain Burlington, and is leaning in part on co-branded cards to pull it off.To offset losses, Kohl's has been working to get customers to switch from store-branded credit cards, which can only be used in its stores and on its website, to co-branded Capital One cards that can be used to pay for other purchases, too.In an interview with CNBC in mid-March, Kingsbury said the company had previously planned to introduce the co-branded cards, but accelerated its plans because of the impending CFPB late fee cap.Co-branded cards ""will help offset any late fee changes that we have,"" he said.Kingsbury said as of March that Kohl's has converted nearly 700,000 private-label cardholders. It plans to convert about 5 million more later this year, covering more than a quarter of its 20 million active cardholders.He also underscored why Kohl's — and other retailers — want to be in the credit card business.On average, Kohl's credit customers spend six times more per year than shoppers who don't belong to its loyalty program, Kingsbury said. Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.— CNBC's Gabrielle Fonrouge contributed to this report.",CNBC,10/04/2024,"[""In this articleDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash."", 'Starting this spring, though, those cards will become less lucrative.', 'Late fees for customers will be capped at $8, down from an industry average of around $32, under a new rule from the Consumer Financial Protection Bureau.', ""The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances."", ""Specialty retailers with store cards, such as Gap, will feel the pinch, but it'll be the most significant at department stores since their revenue is already under pressure, according to Jane Hali, CEO and retail analyst at equity research firm Jane Hali & Associates."", '""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.', ""For fiscal 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom."", 'Kohl\'s reported $924 million in ""other"" revenue in 2023, a broader category that includes unused gift cards and third-party advertising on its website, though Fitch Ratings estimates the majority of that revenue category is from credit cards.', 'The three companies do not break out how much of total credit card revenue comes from late fees.', 'Store-branded credit cards are a clear boon for retailers: They encourage purchases and come with virtually no overhead, said David Silverman, a retail analyst at Fitch Ratings.', ""They're typically issued through financial services companies and banks, such as Synchrony Financial, TD Bank or Capital One."", 'And they often come with extra perks for shoppers, such as additional discounts or rewards for repeat purchases.', ""For retailers, the branded cards provide insights into customer behavior, since they track purchases, and can amount to a perpetual advertisement, right in customers' wallets, Silverman said."", '""If I\'m constantly using my Macy\'s card or my Home Depot card or whatever it is, that brand is even more so part of my daily life,"" he said.', ""Even before the CFPB ruling, retailers' credit cards faced challenges."", 'Shoppers, particularly those who are younger, are paying in new ways like buy now, pay later, which allows a customer to pay back a purchase in installments.', 'Use of buy now, pay later with online purchases between January and March totaled $19.2 billion, an increase of 12.3% from the year-ago period, according to Adobe Analytics, which analyzes online transactions across retail sites.', 'Some customers are opting for credit cards that offer experience-based perks, such as access to airport lounges or early purchases of high-demand concert tickets.', 'Plus, in a higher interest rate environment, getting customers to sign up for store cards or use them may be a trickier proposition.', 'For retailer-issued credit cards, interest rates — also called APRs, or annual percentage rates — were about 29.33% on average as of early April, according Bankrate.', 'That compares with an average of 20.75% for all U.S. credit cards.', 'All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further.', ""For all the millions brought in by private-label cards, they drive a small portion of retailers' net sales."", ""The retailers' credit cards accounted for nearly 3% of Macy's net sales and a little over 3% of Nordstrom's net sales in the most recent fiscal year."", ""Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies."", ""Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year."", 'Chief Operating Officer Michael Fiddelke said at an investor meeting in March that the discounter has seen softer spending on credit cards, but has been able to make it up with growth of its advertising business, Roundel.', ""The big-box retailer recently relaunched its loyalty program as a three-tiered offering that includes a free tier, a paid annual membership and a credit card that's now called the Target Circle Card."", ""Macy's, too, has dealt with falling credit card revenue."", ""The segment's $619 million during the most recent fiscal year was a decline of about 28%."", 'And the company said it expects that to tumble even further to between $475millionand $490million for this fiscal year as net sales fall.', ""That outlook doesn't take into account the credit card late fee ruling."", ""Adrian Mitchell, chief operating officer and chief financial officer, told investors on the company's earnings call that Macy's is working with Citi, its financial partner, to try to offset the late fee ruling."", ""It's also looking for strategies to increase customers' use of Macy's and Bloomingdale's credit cards, he said."", ""Nordstrom, for its part, has reported year-over-year gains in credit card revenue for each of the past three years, though its haul is smaller than that of Kohl's, Macy's and Target."", 'It downplayed the CFPB change, saying the average credit quality of its portfolio tends to be higher than other retailers, meaning it relies less on late fees.', 'Gap does not disclose credit card revenue, but its chief financial officer, Katrina O\'Connell, said on an earnings call that losses from late fees will be ""largely offset in 2024 by other levers within our credit card program.""', 'The company declined to share specifics about those offsets.', ""Some card issuers, such as Synchrony, have said they will make changes in the coming months, such as increasing APRs, to try to blunt the federal rule's effect."", ""Synchrony is a major issuer of store cards, including the cards for Sam's Club and Lowe's."", ""At Kohl's, it's a bit of a different story."", ""Kohl's customers typically have lower household incomes than those of other retailers, such as Nordstrom, which makes them more likely to miss a payment and be subject to a late fee, said Lorraine Hutchinson, a research analyst at Bank of America."", ""And, off-mall department store retailer Kohl's is chasing a turnaround under CEO Tom Kingsbury, the former chief of off-price chain Burlington, and is leaning in part on co-branded cards to pull it off."", ""To offset losses, Kohl's has been working to get customers to switch from store-branded credit cards, which can only be used in its stores and on its website, to co-branded Capital One cards that can be used to pay for other purchases, too."", 'In an interview with CNBC in mid-March, Kingsbury said the company had previously planned to introduce the co-branded cards, but accelerated its plans because of the impending CFPB late fee cap.', 'Co-branded cards ""will help offset any late fee changes that we have,"" he said.', ""Kingsbury said as of March that Kohl's has converted nearly 700,000 private-label cardholders."", 'It plans to convert about 5 million more later this year, covering more than a quarter of its 20 million active cardholders.', ""He also underscored why Kohl's — and other retailers — want to be in the credit card business."", ""On average, Kohl's credit customers spend six times more per year than shoppers who don't belong to its loyalty program, Kingsbury said."", 'Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.—', ""CNBC's Gabrielle Fonrouge contributed to this report.""]",0.2639977157326827,"The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.","""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.",-0.0032207988775693,"Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.—","Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies.",2024-04-11 -Wall Street wants answers from big banks about the economy,https://edition.cnn.com/2024/04/11/investing/premarket-stocks-trading-bank-earnings/index.html," - Published - 7:00 AM EDT, Thu April 11, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - Big banks kick off earnings season Friday. There’s a lot riding on the line. - - Investors are on edge this week after the latest Consumer Price Index released Wednesday showed that inflation grew faster than expected in March. The S&P 500 index has fallen 0.8% this week, the Dow Jones Industrial Average has declined 1.1% and the Nasdaq Composite has lost 0.5%. - - That has turned up the pressure for corporations to make a strong showing this upcoming earnings season, which investors already hoped could help revive the sputtering stock rally. - - “Earnings season just became significantly more important,” said JJ Kinahan, chief executive of IG North America, in a Wednesday note. “The market has more or less acknowledged that any stimulus from a rate cut [is] becoming less likely. As a result, that’s shifting the onus for not just further market gains, but sustaining existing gains, on earnings.” - - JPMorgan Chase, an economic bellwether due to its staggering size, reports first-quarter results Friday morning. BlackRock, Citigroup, Wells Fargo and PNC Financial Services also report quarterly updates. - - Investors will watch closely for signs that Americans are continuing to open their pocketbooks despite interest rates hovering at a 23-year high. Consumer spending has stayed robust at large, but retailers have warned in recent months that lower-income consumers are tightening their purse strings. Surging gas prices are also taking a bite out of Americans’ income. - - “You’ll be wanting to look at, are there early signs of stress on the consumer that banks are reporting?” said Carol Schleif, chief investment officer at BMO Family Office. - - Persistent inflation and the economy’s unflinching resilience have forced Wall Street to pare back its expectations for when and how many times the Federal Reserve will cut rates this year. Wall Street expected as many as six rate cuts earlier this year. Now, some investors say that the Fed could cut rates just once or twice in 2024, rather than the three projected, or keep them on hold through year’s end. Some economists even believe another hike could be warranted. - - Traders see a roughly 19% expectation that the Fed will cut rates in June after the latest inflation data, according to the CME FedWatch Tool. That’s down from a 56% expectation a day ago. - - Elevated rates are a double-edged sword for banks. On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages. But that could also add stress to the financial sector and in turn destabilize the economy. The collapse of several regional banks roiled the stock and bond markets last March as investors feared that sky-high rates could help trigger a recession. - - Fears of a downturn have abated in recent months as economic data has remained robust. But JPMorgan CEO Jamie Dimon believes that a recession still isn’t off the table. He wrote in his annual letter to shareholders published Monday that the bank is prepared for a range of scenarios, including rates topping 8% and stagflation, or when the economy downturns while inflation remains high. - - “Markets seem to be pricing in at a 70% to 80% chance of a soft landing,” wrote Dimon. “I believe the odds are a lot lower than that.” - - Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer, reports my colleague Alicia Wallace. - - US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. - - That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Friday’s report further highlights that the path to lower inflation remains extremely bumpy — and continues to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon. - - President Joe Biden acknowledged Wednesday there is “more to do” to bring down inflation. - - “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement. - - Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. - - Read more here. - - Federal Reserve officials said during their March policymaking meeting that inflation will likely continue to slow this year, according to minutes released Wednesday, but some still fretted over the possibility that inflation could remain stubbornly high. - - Those fears have now worsened, at least on Wall Street, which means that interest rates could remain higher for longer if prices don’t budge, reports my colleague Bryan Mena. - - While Fed officials “observed that significant progress had been made over the past year” despite disappointing inflation readings for January and February, some also “noted that the recent increases in inflation had been relatively broad based,” the minutes said. - - The Fed kept its key interest rate at a two-decade high for the fifth straight meeting last month, at a range of 5.25% to 5.5%. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal. - - According to the Fed minutes, officials generally noted that “they continued to expect that inflation would return to 2 percent over the medium term.” Economists have been expecting slowing rent growth to filter through to inflation gauges. Powell said it is only a matter of time until it happens, but that hasn’t happened yet. Insurance costs have also been pushing up inflation. - - Read more here.",CNN,11/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'Big banks kick off earnings season Friday.', 'There’s a lot riding on the line.', 'Investors are on edge this week after the latest Consumer Price Index released Wednesday showed that inflation grew faster than expected in March.', 'The S&P 500 index has fallen 0.8% this week, the Dow Jones Industrial Average has declined 1.1% and the Nasdaq Composite has lost 0.5%.', 'That has turned up the pressure for corporations to make a strong showing this upcoming earnings season, which investors already hoped could help revive the sputtering stock rally.', '“Earnings season just became significantly more important,” said JJ Kinahan, chief executive of IG North America, in a Wednesday note. “', 'The market has more or less acknowledged that any stimulus from a rate cut [is] becoming less likely.', 'As a result, that’s shifting the onus for not just further market gains, but sustaining existing gains, on earnings.”', 'JPMorgan Chase, an economic bellwether due to its staggering size, reports first-quarter results Friday morning.', 'BlackRock, Citigroup, Wells Fargo and PNC Financial Services also report quarterly updates.', 'Investors will watch closely for signs that Americans are continuing to open their pocketbooks despite interest rates hovering at a 23-year high.', 'Consumer spending has stayed robust at large, but retailers have warned in recent months that lower-income consumers are tightening their purse strings.', 'Surging gas prices are also taking a bite out of Americans’ income.', '“You’ll be wanting to look at, are there early signs of stress on the consumer that banks are reporting?”', 'said Carol Schleif, chief investment officer at BMO Family Office.', 'Persistent inflation and the economy’s unflinching resilience have forced Wall Street to pare back its expectations for when and how many times the Federal Reserve will cut rates this year.', 'Wall Street expected as many as six rate cuts earlier this year.', 'Now, some investors say that the Fed could cut rates just once or twice in 2024, rather than the three projected, or keep them on hold through year’s end.', 'Some economists even believe another hike could be warranted.', 'Traders see a roughly 19% expectation that the Fed will cut rates in June after the latest inflation data, according to the CME FedWatch Tool.', 'That’s down from a 56% expectation a day ago.', 'Elevated rates are a double-edged sword for banks.', 'On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages.', 'But that could also add stress to the financial sector and in turn destabilize the economy.', 'The collapse of several regional banks roiled the stock and bond markets last March as investors feared that sky-high rates could help trigger a recession.', 'Fears of a downturn have abated in recent months as economic data has remained robust.', 'But JPMorgan CEO Jamie Dimon believes that a recession still isn’t off the table.', 'He wrote in his annual letter to shareholders published Monday that the bank is prepared for a range of scenarios, including rates topping 8% and stagflation, or when the economy downturns while inflation remains high.', '“Markets seem to be pricing in at a 70% to 80% chance of a soft landing,” wrote Dimon. “', 'I believe the odds are a lot lower than that.”', 'Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs.', 'That could force the Federal Reserve to keep its punishing rates higher for longer, reports my colleague Alicia Wallace.', 'US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.', 'That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months.', 'Friday’s report further highlights that the path to lower inflation remains extremely bumpy — and continues to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon.', 'President Joe Biden acknowledged Wednesday there is “more to do” to bring down inflation.', '“Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families.', 'Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement.', 'Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy.', 'Read more here.', 'Federal Reserve officials said during their March policymaking meeting that inflation will likely continue to slow this year, according to minutes released Wednesday, but some still fretted over the possibility that inflation could remain stubbornly high.', 'Those fears have now worsened, at least on Wall Street, which means that interest rates could remain higher for longer if prices don’t budge, reports my colleague Bryan Mena.', 'While Fed officials “observed that significant progress had been made over the past year” despite disappointing inflation readings for January and February, some also “noted that the recent increases in inflation had been relatively broad based,” the minutes said.', 'The Fed kept its key interest rate at a two-decade high for the fifth straight meeting last month, at a range of 5.25% to 5.5%.', 'Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal.', 'According to the Fed minutes, officials generally noted that “they continued to expect that inflation would return to 2 percent over the medium term.”', 'Economists have been expecting slowing rent growth to filter through to inflation gauges.', 'Powell said it is only a matter of time until it happens, but that hasn’t happened yet.', 'Insurance costs have also been pushing up inflation.', 'Read more here.']",-0.0529322769319557,"On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages.",The collapse of several regional banks roiled the stock and bond markets last March as investors feared that sky-high rates could help trigger a recession.,0.0159034646219677,"As a result, that’s shifting the onus for not just further market gains, but sustaining existing gains, on earnings.”",That’s down from a 56% expectation a day ago.,2024-04-11 -"Goldman Sachs promotes head of strategy and investor relations, Carey Halio, to global treasurer",https://www.cnbc.com/2024/04/11/goldman-sachs-promotes-carey-halio-to-global-treasurer.html,2024-04-11T15:17:54+0000,"In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter. Her new role, effective June 1, encompasses authority over the firm's more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm's liquidity, funding and capital. She will report to Denis Coleman, Goldman Sachs' chief financial officer. Philip Berlinski, the previous global treasurer, is leaving the bank to become co-chief operating officer of Millennium Management, a $62 billion hedge fund, according to the Financial Times. As part of her new role, Halio will oversee a team of about 900 people, the people familiar said. She will also serve on the management committee.""As a tenured leader of the firm with experience working in several of our divisions and partnering with leaders across the organization to drive our strategic priorities forward, Carey will bring important expertise and perspectives to her new role,"" Goldman Sachs CEO David Solomon said in a memo, obtained by CNBC. ""Carey will continue to oversee our Firmwide Strategy team on an interim basis.""Before running strategy and investor relations, Halio was the CEO of Goldman Sachs Bank USA and deputy treasurer of Goldman Sachs. She joined the firm in 1999 as a summer associate in credit risk and rejoined the following year, ultimately becoming the head of the Americas Financial Institutions team in credit risk. Jehan Ilahi, who worked with Halio for years in strategy and investor relations, will become head of investor relations. Goldman Sachs is slated to report first-quarter earnings Monday.",CNBC,11/04/2024,"[""In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter."", ""Her new role, effective June 1, encompasses authority over the firm's more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm's liquidity, funding and capital."", ""She will report to Denis Coleman, Goldman Sachs' chief financial officer."", 'Philip Berlinski, the previous global treasurer, is leaving the bank to become co-chief operating officer of Millennium Management, a $62 billion hedge fund, according to the Financial Times.', 'As part of her new role, Halio will oversee a team of about 900 people, the people familiar said.', 'She will also serve on the management committee.', '""As a tenured leader of the firm with experience working in several of our divisions and partnering with leaders across the organization to drive our strategic priorities forward, Carey will bring important expertise and perspectives to her new role,"" Goldman Sachs CEO David Solomon said in a memo, obtained by CNBC. ""', 'Carey will continue to oversee our Firmwide Strategy team on an interim basis.', '""Before running strategy and investor relations, Halio was the CEO of Goldman Sachs Bank USA and deputy treasurer of Goldman Sachs.', 'She joined the firm in 1999 as a summer associate in credit risk and rejoined the following year, ultimately becoming the head of the Americas Financial Institutions team in credit risk.', 'Jehan Ilahi, who worked with Halio for years in strategy and investor relations, will become head of investor relations.', 'Goldman Sachs is slated to report first-quarter earnings Monday.']",0.1468204608308511,"In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter.",,0.9427096843719482,"In this articleCarey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter.",,2024-04-11 -"Spirit Airlines will defer Airbus orders, furlough 260 pilots in race to shore up liquidity",https://www.cnbc.com/2024/04/08/spirit-airlines-will-defer-airbus-orders-furlough-260-pilots.html,2024-04-08T21:15:00+0000,"In this articleSpirit Airlines said Monday that it will defer deliveries of new Airbus planes and that it plans to furlough about 260 pilots as it tries to boost liquidity.""Of course, these steps aren't ones we want to take but they're necessary to ensure a strong and profitable future for Spirit,"" CEO Ted Christie said in a note to staff Monday.Spirit said it will defer all Airbus planes it has on order that were scheduled to be delivered from the second quarter of 2025 through the end of 2026. It will instead take delivery of them in 2030 and 2031. The deferrals do not include the direct-lease planes — one apiece in the second and third quarter of next year — nor scheduled deliveries for 2027 through 2029, Spirit said.The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years.""Deferring these aircraft gives us the opportunity to reset the business and focus on the core airline while we adjust to changes in the competitive environment,"" Christie said in a news release.Miramar, Florida-based Spirit has been looking for ways to boost liquidity and convince investors that it is on track to do so as it struggles with the the grounding of many of its Airbus planes because of a Pratt & Whitney engine recall. Its planned acquisition by JetBlue Airways fell apart earlier this year after a federal judge ruled in January that the deal would be anti-competitive.The airline said March 29 that it will receive monthly payments in compensation for the grounded Pratt & Whitney engines through the end of 2024, which would lift liquidity between $150 million and $200 million.The pilot furloughs would take effect in September, Spirit said Monday. The airline already had leaves of absence in place for flight attendants and there is ""no plan"" for cabin crew furloughs, their union, the Association of Flight Attendants told members Monday. Spirit is closing its Atlantic City, New Jersey, crew base and staff will be reassigned.Spirit's Airbus delivery slots are likely to be in high demand. Airlines have adjusted their hiring and training in recent weeks, citing a scarcity of aircraft — a sharp change from the pilot shortage that worsened when travel demand snapped back after the worst of the pandemic.United Airlines pilots' union last month said the company is offering unpaid time off for pilots next month because of late-arriving planes from Boeing. The carrier said it was also removing Boeing's Max 10 jets from its fleet plan because it was unclear when regulators would certify the planes. United declined to comment on whether it will take Spirit's Airbus delivery slots.An Airbus spokeswoman said the slots could be remarketed, but she declined to comment on ""any conversations we may or may not be having with various customers.""The Air Line Pilots Association, Spirit pilots' union, said Monday it is exploring voluntary measures that could limit the number of pilot furloughs.""Coupled with the retirement of our A319 fleet and the ongoing Pratt & Whitney GTF engine issue, the airline finds itself with more pilots than its operations require,"" Ryan Muller, chairman of the Spirit ALPA chapter, said in an emailed statement. ""The ramifications of the Company's announced decision are deeply troubling for our entire pilot group.""Spirit said in the filing that it plans to publish its next financial outlook for the quarter and full year within the next week. It is scheduled to report first-quarter results before the market opens on May 6.",CNBC,08/04/2024,"['In this articleSpirit Airlines said Monday that it will defer deliveries of new Airbus planes and that it plans to furlough about 260 pilots as it tries to boost liquidity.', '""Of course, these steps aren\'t ones we want to take but they\'re necessary to ensure a strong and profitable future for Spirit,"" CEO Ted Christie said in a note to staff Monday.', 'Spirit said it will defer all Airbus planes it has on order that were scheduled to be delivered from the second quarter of 2025 through the end of 2026.', 'It will instead take delivery of them in 2030 and 2031.', 'The deferrals do not include the direct-lease planes — one apiece in the second and third quarter of next year — nor scheduled deliveries for 2027 through 2029, Spirit said.', 'The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years.', '""Deferring these aircraft gives us the opportunity to reset the business and focus on the core airline while we adjust to changes in the competitive environment,"" Christie said in a news release.', 'Miramar, Florida-based Spirit has been looking for ways to boost liquidity and convince investors that it is on track to do so as it struggles with the the grounding of many of its Airbus planes because of a Pratt & Whitney engine recall.', 'Its planned acquisition by JetBlue Airways fell apart earlier this year after a federal judge ruled in January that the deal would be anti-competitive.', 'The airline said March 29 that it will receive monthly payments in compensation for the grounded Pratt & Whitney engines through the end of 2024, which would lift liquidity between $150 million and $200 million.', 'The pilot furloughs would take effect in September, Spirit said Monday.', 'The airline already had leaves of absence in place for flight attendants and there is ""no plan"" for cabin crew furloughs, their union, the Association of Flight Attendants told members Monday.', 'Spirit is closing its Atlantic City, New Jersey, crew base and staff will be reassigned.', ""Spirit's Airbus delivery slots are likely to be in high demand."", 'Airlines have adjusted their hiring and training in recent weeks, citing a scarcity of aircraft — a sharp change from the pilot shortage that worsened when travel demand snapped back after the worst of the pandemic.', ""United Airlines pilots' union last month said the company is offering unpaid time off for pilots next month because of late-arriving planes from Boeing."", ""The carrier said it was also removing Boeing's Max 10 jets from its fleet plan because it was unclear when regulators would certify the planes."", ""United declined to comment on whether it will take Spirit's Airbus delivery slots."", 'An Airbus spokeswoman said the slots could be remarketed, but she declined to comment on ""any conversations we may or may not be having with various customers.', '""The Air Line Pilots Association, Spirit pilots\' union, said Monday it is exploring voluntary measures that could limit the number of pilot furloughs.', '""Coupled with the retirement of our A319 fleet and the ongoing Pratt & Whitney GTF engine issue, the airline finds itself with more pilots than its operations require,"" Ryan Muller, chairman of the Spirit ALPA chapter, said in an emailed statement. ""', ""The ramifications of the Company's announced decision are deeply troubling for our entire pilot group."", '""Spirit said in the filing that it plans to publish its next financial outlook for the quarter and full year within the next week.', 'It is scheduled to report first-quarter results before the market opens on May 6.']",0.089810687267966,"""Of course, these steps aren't ones we want to take but they're necessary to ensure a strong and profitable future for Spirit,"" CEO Ted Christie said in a note to staff Monday.","Airlines have adjusted their hiring and training in recent weeks, citing a scarcity of aircraft — a sharp change from the pilot shortage that worsened when travel demand snapped back after the worst of the pandemic.",0.0585053920745849,The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years.,Its planned acquisition by JetBlue Airways fell apart earlier this year after a federal judge ruled in January that the deal would be anti-competitive.,2024-04-11 -Moderna halts plans to build Kenya vaccine plant as Covid shot demand plunges,https://www.cnbc.com/2024/04/11/moderna-halts-kenya-vaccine-plant-plans-as-covid-shot-demand-plunges.html,2024-04-11T17:23:43+0000,"In this articleModerna on Thursday said it has paused plans to build a vaccine-manufacturing site in Kenya after a steep drop in demand for its Covid vaccines.The biotech company said it has not received any vaccine orders for Africa since 2022 and has taken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.Moderna's decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint. The company's business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus.Shares of Moderna fell 45% last year, but the stock is up around 6% this year.In March 2022, the company said it would invest about $500 million in the Kenyan site and supply as many as 500 million doses of its messenger RNA vaccines to Africa each year. Moderna also had plans to start filling doses of its Covid vaccine in the continent as early as 2023.But the company has since determined that demand in Africa ""is insufficient to support the viability of the factory planned in Kenya,"" Moderna said in a statement on Thursday. Still, the company said it is committed to ""ensuring equitable access and meeting emerging demands from African nations"" for its Covid shot through its global manufacturing network.""The company said it is also working to develop vaccines for diseases that predominantly affect the African continent, such as HIV and malaria. Those shots are part of Moderna's broader effort to expand access to vaccines that are out of reach in many parts of the world.But those jabs are still in the early stages of development, the company noted.""Given this, and in alignment with our strategic planning, Moderna believes it is prudent to pause its efforts to build an mRNA manufacturing facility in Kenya,"" the company said in a statement. ""This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.""",CNBC,11/04/2024,"['In this articleModerna on Thursday said it has paused plans to build a vaccine-manufacturing site in Kenya after a steep drop in demand for its Covid vaccines.', 'The biotech company said it has not received any vaccine orders for Africa since 2022 and hastaken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.', ""Moderna's decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint."", ""The company's business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus."", 'Shares of Moderna fell 45% last year, but the stock is up around 6% this year.', 'In March 2022, thecompany said it would invest about $500 million in the Kenyan site and supply as many as 500 million doses of its messenger RNA vaccines to Africa each year.', 'Moderna also had plans to start filling doses of its Covid vaccine in the continent as early as 2023.But the company has since determined that demand in Africa ""is insufficient to support the viability of the factory planned in Kenya,"" Moderna said in a statement on Thursday.', 'Still, the company said it is committed to ""ensuring equitable access and meeting emerging demands from African nations"" for its Covid shot through its global manufacturing network.', '""The company said it is also working to develop vaccines for diseases that predominantly affect the African continent, such as HIV and malaria.', ""Those shots are part of Moderna's broader effort to expand access to vaccines that are out of reach in many parts of the world."", 'But those jabs are still in the early stages of development, the company noted.', '""Given this, and in alignment with our strategic planning, Moderna believes it is prudent to pause its efforts to build an mRNA manufacturing facility in Kenya,"" the company said in a statement. ""', 'This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.""']",0.0669186493272792,"Moderna also had plans to start filling doses of its Covid vaccine in the continent as early as 2023.But the company has since determined that demand in Africa ""is insufficient to support the viability of the factory planned in Kenya,"" Moderna said in a statement on Thursday.",The biotech company said it has not received any vaccine orders for Africa since 2022 and hastaken more than $1 billion in losses and write-downs related to the cancellation of previous orders from the continent.,0.1065106987953186,"This approach will allow Moderna to better align its infrastructure investments with the evolving healthcare needs and vaccine demand in Africa.""","The company's business took a major hit last year as demand for those jabs waned worldwide, with people relying less on protective vaccines and treatments against the virus.",2024-04-11 -US lawmakers unveil a plan to give all Americans a right to online privacy,https://edition.cnn.com/2024/04/08/tech/online-privacy-bill/index.html," - Published - 10:01 AM EDT, Mon April 8, 2024 - ","Two leading US lawmakers have reached a bipartisan deal that could, for the first time, grant all Americans a basic right to digital privacy and create a national law regulating how companies can collect, share and use Americans’ online data. - - If it succeeds, the proposal could establish the US equivalent of the European Union’s landmark privacy law known as the General Data Protection Regulation (GDPR), and rein in what privacy advocates say is a lawless and unregulated space where Americans’ personal data can too easily be shared and sold to the highest bidder. - - The proposed agreement would create an unprecedented, single federal standard governing digital privacy in the United States and reflects a significant breakthrough after years of stalled negotiations between Republicans and Democrats. But it could also override some of the toughest state-based privacy laws in the nation, such as in California. - - The deal comes as personal data has increasingly become the lifeblood of the modern economy and as artificial intelligence companies have raced to hoover up as much of it as they can to train sophisticated AI models that could transform society. - - On Sunday, the lawmakers involved — Washington Sen. Maria Cantwell, the Democratic chair of the Senate Commerce Committee, and Washington Rep. Cathy McMorris Rodgers, the Republican who leads the House Energy and Commerce Committee — announced a proposal they said would return control of personal data to American consumers. - - The discussion draft, which was released over the weekend but has not yet been formally introduced as legislation, covers data brokers, tech platforms, telecom providers and virtually every other type of organization an internet user might interact with on a daily basis, with the exception of small businesses and government contractors. - - The lawmakers’ proposed American Privacy Rights Act would ban the transfer of Americans’ sensitive personal data to third parties — including geolocation histories, financial data, biometric information and calendar and phone logs — unless a user provides explicit approval for the data or the sharing is for one of several specific purposes allowed under the bill, such as preventing fraud. - - It would let users opt out of targeted advertising altogether and require companies to collect only enough data as they need to do their business. And it would guarantee Americans the right to request copies of their data, to correct it or even to have it deleted from a company’s records. - - And, in a nod to growing concerns about whether Americans’ personal data may be available to foreign adversaries such as China and Russia, the legislation would require companies to disclose to US consumers whether their information may be sent to, stored or processed in one of those countries. US officials have voiced concerns about whether TikTok user data could be accessed by the Chinese government, but it doesn’t stop there: The Biden administration and US lawmakers have also highlighted data brokers as another potential way for foreign governments to obtain Americans’ personal data. - - The draft legislation breaks a yearslong deadlock between Republicans and Democrats over the scope of any national privacy bill. The two parties had long disagreed over two key issues: Whether a federal privacy law should override existing state privacy laws that may provide tougher protections, and whether private citizens should be able to bring their own lawsuits against companies accused of violating their privacy. - - This week’s agreement appears to resolve both issues. It would preempt more than a dozen state privacy laws already on the books in states such as California, Texas and Virginia. And it would enable individuals to sue companies for violations of the proposed law. - - “This bipartisan, bicameral draft legislation is the best opportunity we’ve had in decades to establish a national data privacy and security standard that gives people the right to control their personal information,” said McMorris Rodgers and Cantwell in a statement. - - The legislation has a long road ahead: It must still clear both of the lawmakers’ committees and pass both chambers of Congress in order to make it to President Joe Biden’s desk. Policy experts have predicted low odds of Congress passing much legislation in the months leading up to the 2024 election. - - McMorris Rodgers has also announced she will not run for reelection, which could complicate the bill’s future after one of its most powerful co-sponsors leaves the House.",CNN,08/04/2024,"['Two leading US lawmakers have reached a bipartisan deal that could, for the first time, grant all Americans a basic right to digital privacy and create a national law regulating how companies can collect, share and use Americans’ online data.', 'If it succeeds, the proposal could establish the US equivalent of the European Union’s landmark privacy law known as the General Data Protection Regulation (GDPR), and rein in what privacy advocates say is a lawless and unregulated space where Americans’ personal data can too easily be shared and sold to the highest bidder.', 'The proposed agreement would create an unprecedented, single federal standard governing digital privacy in the United States and reflects a significant breakthrough after years of stalled negotiations between Republicans and Democrats.', 'But it could also override some of the toughest state-based privacy laws in the nation, such as in California.', 'The deal comes as personal data has increasingly become the lifeblood of the modern economy and as artificial intelligence companies have raced to hoover up as much of it as they can to train sophisticated AI models that could transform society.', 'On Sunday, the lawmakers involved — Washington Sen. Maria Cantwell, the Democratic chair of the Senate Commerce Committee, and Washington Rep. Cathy McMorris Rodgers, the Republican who leads the House Energy and Commerce Committee — announced a proposal they said would return control of personal data to American consumers.', 'The discussion draft, which was released over the weekend but has not yet been formally introduced as legislation, covers data brokers, tech platforms, telecom providers and virtually every other type of organization an internet user might interact with on a daily basis, with the exception of small businesses and government contractors.', 'The lawmakers’ proposedAmerican Privacy Rights Actwould ban the transfer of Americans’ sensitive personal data to third parties — including geolocation histories, financial data, biometric information and calendar and phone logs — unless a user provides explicit approval for the data or the sharing is for one of several specific purposes allowed under the bill, such as preventing fraud.', 'It wouldlet users opt out of targeted advertising altogether and require companies to collect only enough data as they need to do their business.', 'And it would guarantee Americans the right to request copies of their data, to correct it or even to have it deleted from a company’s records.', 'And, in a nod to growing concerns about whether Americans’ personal data may be available to foreign adversaries such as China and Russia, the legislation would require companies to disclose to US consumers whether their information may be sent to, stored or processed in one of those countries.', 'US officials have voiced concerns about whether TikTok user data could be accessed by the Chinese government, but it doesn’t stop there: TheBiden administrationand US lawmakers have alsohighlighted data brokersas another potential way for foreign governments to obtain Americans’ personal data.', 'The draft legislation breaks a yearslong deadlock between Republicans and Democrats over the scope of any national privacy bill.', 'The two parties had long disagreed over two key issues: Whether a federal privacy law should override existing state privacy laws that may provide tougher protections, and whether private citizens should be able to bring their own lawsuits against companies accused of violating their privacy.', 'This week’s agreement appears to resolve both issues.', 'It would preempt more than a dozen state privacy lawsalready on the booksin states such as California, Texas and Virginia.', 'And it would enable individuals to sue companies for violations of the proposed law.', '“This bipartisan, bicameral draft legislation is the best opportunity we’ve had in decades to establish a national data privacy and security standard that gives people the right to control their personal information,” said McMorris Rodgers and Cantwell in a statement.', 'The legislation has a long road ahead: It must still clear both of the lawmakers’ committees and pass both chambers of Congress in order to make it to President Joe Biden’s desk.', 'Policy experts have predicted low odds of Congress passing much legislation in the months leading up to the 2024 election.', 'McMorris Rodgers has also announced shewill not run for reelection, which could complicate the bill’s future after one of its most powerful co-sponsors leaves the House.']",0.1753273504535007,"“This bipartisan, bicameral draft legislation is the best opportunity we’ve had in decades to establish a national data privacy and security standard that gives people the right to control their personal information,” said McMorris Rodgers and Cantwell in a statement.","The two parties had long disagreed over two key issues: Whether a federal privacy law should override existing state privacy laws that may provide tougher protections, and whether private citizens should be able to bring their own lawsuits against companies accused of violating their privacy.",0.1896940271059672,"Two leading US lawmakers have reached a bipartisan deal that could, for the first time, grant all Americans a basic right to digital privacy and create a national law regulating how companies can collect, share and use Americans’ online data.",Policy experts have predicted low odds of Congress passing much legislation in the months leading up to the 2024 election.,2024-04-11 -California just hiked minimum wage for fast food workers. Some restaurants are replacing them with kiosks,https://edition.cnn.com/2024/04/11/business/california-minimum-wage-fast-food-kiosks/index.html," - Published - 10:55 AM EDT, Thu April 11, 2024 - ","California just raised the minimum wage for the state’s fast food sector workers by $4 to $20. As if on cue, it raised a familiar refrain that those workers would be replaced by technology, such as self-service kiosks. - - That’s likely to happen in some instances where business who haven’t yet done so will look to technology to help offset higher labor costs, industry experts said. - - But the reality is that automation in the services industry is already on a roll, and the restaurant industry has been embracing it for a while now, even in states where the minimum wage hasn’t increased. - - “There are two things in play. One, already in motion for a while is robotics and automation at the store level,” said Rob Dongoski, global lead for food and agribusiness at Kearney, a strategy and management consulting firm. Examples in what is known in the industry as the “quick service restaurant” space include auto-refill technology and automated frying machines. - - And, although many casual observers disagree, higher wages for fast food workers could actually help fast food owners, Dongoski said. - - The employment level in fast food restaurants still hasn’t reached pre-pandemic levels. “So, wage increases are a way to attract workers into that environment,” Dongoski said. “Businesses will already have to automate and use robotics to offset lack of labor to begin with, and and then, the wage increase to attract the labor that they do need.” - - The new wage took effect in California on April 1, and applies to restaurant chains with more than 60 nationwide locations. - - The law also creates a fast food council, a first of its kind in the US, with representatives from both the restaurant industry and workers, who can increase the wage annually for the rest of the decade, in pace with inflation or up to 3.5%, whichever is higher. This council can also recommend standards for fast food worker safety, as well as work with existing state agencies to investigate issues like wage theft. - - Self-service kiosks are fairly commonplace in large fast food chains. The trend predates the pandemic, and its popularity picked up steam through it. - - Panera Bread launched its Panera 2.0 strategy back in 2014, which overhauled the customer experience by putting self-service kiosks in all locations. - - Fast food king McDonald’s brought in self-service kiosks in 2017, acknowledging at the time that the business of food was changing as consumers were showing a greater preference for convenience and personalized eating. - - Burger chain Shake Shack signaled last year that all of its locations would have self-serve ordering kiosks by the end of 2023. Company executives noted in an earnings call with analysts last May that people order a much larger — and much more profitable — amount of food when they don’t have to place that order with a human being. - - “When a guest goes to our kiosk and they see the visual merchandising of our menu, we see that they have higher [value] order than a traditional cashier order,” Shake Shack’s chief financial officer Katie Fogerty told analysts during the call. - - “We see that they add on more premium and higher margin items. And so that together really makes that our highest margin channel,” she said. “We still have a portion of guests that come in and they want to have that face-to-face human transaction communication connection with the cashier. But we have a ton of guests who come in and they want to just go right to the kiosk.” - - Elsewhere, Burger King’s CEO last year also said that the burger chain planned to roll out many more digital self-service screens in its restaurants in the US, noting that the company found that when customers had autonomy in ordering, it generally led to larger orders and gave kitchen staff more time to prep those orders. - - Just last month, Chick-Fil-A debuted what it calls a “mobile pick-up restaurant” in New York City. The prototype concept has no seating and it only makes food for delivery or takeout. - - To be sure, there is a customer preference for autonomous ordering, especially among the “born digital” demographic, or younger consumers, said Marbue Brown, founder of The Customer Obsession Advantage, an independent tech and customer experience consultancy to tech and retail companies. - - “We’ve all been to restaurants where we’ve sat down and waited for quite a long time for someone to come over to ask for your order,” Brown said. “If you could place that order without having to wait for someone to take it, that’s a plus for you. So yes, self-service kiosks is about reducing costs, but it is also about providing a positive customer experience, and convenience. This has nothing to do with minimum wage.” - - However, the minimum wage increase serves as an accelerant, Brown said. “It’s not that these changes were not going to happen already, it’s that tech adoption might happen a lot faster in certain geographies.” - - Brown expects restaurants in California affected by the minimum wage law to explore all options to keep prices for customers in check. - - “If automation is one of those things, and they can do it effectively, they will definitely use it,” he said. “I don’t think they will eliminate their workers en masse, but they will try to have a mix where it’s a hybrid environment of ordering with a kiosk and with a person. It’s about finding the right formula.” - - Harsh Ghai, a fast-food franchisee who owns 180 Burger King, Taco Bell and Popeyes locations, says automation is a fact of life for the industry. - - But despite the labor woes affecting the industry, Ghai said the wage hike would only spur him to install more self-service kiosks. Prior to the minimum wage hike, Ghai said 25% of his locations already had self-service kiosks systems. “The initial plan was to install them in all of our locations over the next five to 10 years,” he said. - - Since April 1, he has dramatically shortened that timeframe. - - Ghai is scrambling to get a hold of as many self service kiosks as he can from vendors because he wants to install them in all of his restaurants in California over the next 30 to 60 days. “Everyone’s trying to get them,” he said. - - He also wants to enable AI-powered drive thru ordering in all locations. “The goal is to be 100% AI order taking capability this time next year,” he said in an interview with CNN. And he’s now adding self-service kiosks directly on the front counter of restaurants with the aim to remove registers completely. - - The changes are necessary, said Ghai, who employs 3,700 fast food workers in California. “The wage increase has significantly raised our labor costs,” Ghai said. “Our first payroll post [wage] hike will be on April 15 and it will be 25% higher than it was last month.” - - While he’s not looking to lay off workers, using technology will help to shave hours and costs, he said. - - “Undoubtedly we will lose some people. There’s no way around it. If we continue to maintain our current menu pricing and absorb higher labor costs, 100% of our restaurants won’t be profitable,” Ghai said. “We can’t raise menu prices because that will hurt traffic and we’ve already seen in the media the backlash from customers having to pay more for burgers because of food price inflation.” - - Jot Condie, president and CEO of the California Restaurant Association, a trade group representing the state’s restaurant industry, said he’s aware that some restaurant operators have announced that they will either not expand, or are closing locations because of the minimum wage hike. - - “From here on, what will drive the accelerated rate of technology use is necessity and not just that customers want it,” Condie said. - - Ghai closed eight restaurants last year and six more already this year. “And this is all before the wage increase even happened,” he said.",CNN,11/04/2024,"['California just raised the minimum wage for the state’s fast food sector workers by $4 to $20.', 'As if on cue, it raised a familiar refrain that those workers would be replaced by technology, such as self-service kiosks.', 'That’s likely to happen in some instances where business who haven’t yet done so will look to technology to help offset higher labor costs, industry experts said.', 'But the reality is that automation in the services industry is already on a roll, and the restaurant industry has been embracing it for a while now, even in states where the minimum wage hasn’t increased.', '“There are two things in play.', 'One, already in motion for a while is robotics and automation at the store level,” said Rob Dongoski, global lead for food and agribusiness at Kearney, a strategy and management consulting firm.', 'Examples in what is known in the industry as the “quick service restaurant” space include auto-refill technology and automated frying machines.', 'And, although many casual observers disagree, higher wages for fast food workers could actually help fast food owners, Dongoski said.', 'The employment level in fast food restaurants still hasn’t reached pre-pandemic levels. “', 'So, wage increases are a way to attract workers into that environment,” Dongoski said. “', 'Businesses will already have to automate and use robotics to offset lack of labor to begin with, and and then, the wage increase to attract the labor that they do need.”', 'The new wage took effect in California on April 1, and applies to restaurant chains with more than 60 nationwide locations.', 'The law also creates a fast food council, a first of its kind in the US, with representatives from both the restaurant industry and workers, who can increase the wage annually for the rest of the decade, in pace with inflation or up to 3.5%, whichever is higher.', 'This council can also recommend standards for fast food worker safety, as well as work with existing state agencies to investigate issues like wage theft.', 'Self-service kiosks are fairly commonplace in large fast food chains.', 'The trend predates the pandemic, and its popularity picked up steam through it.', 'Panera Bread launched its Panera 2.0 strategy back in 2014, which overhauled the customer experience by putting self-service kiosks in all locations.', 'Fast food king McDonald’s brought in self-service kiosks in 2017, acknowledging at the time that the business of food was changing as consumers were showing a greater preference for convenience and personalized eating.', 'Burger chain Shake Shack signaled last year that all of its locations would have self-serve ordering kiosks by the end of 2023.', 'Company executives noted in an earnings call with analysts last May that people order a much larger — and much more profitable —amount of food when they don’t have to place that order with a human being.', '“When a guest goes to our kiosk and they see the visual merchandising of our menu, we see that they have higher [value] order than a traditional cashier order,” Shake Shack’s chief financial officer Katie Fogerty told analysts during the call.', '“We see that they add on more premium and higher margin items.', 'And so that together really makes that our highest margin channel,” she said. “', 'We still have a portion of guests that come in and they want to have that face-to-face human transaction communication connection with the cashier.', 'But we have a ton of guests who come in and they want to just go right to the kiosk.”', 'Elsewhere, Burger King’s CEO last year also said that the burger chain planned to roll out many more digital self-service screens in its restaurants in the US, noting that the company found that when customers had autonomy in ordering, it generally led to larger orders and gave kitchen staff more time to prep those orders.', 'Just last month, Chick-Fil-A debuted what it calls a “mobile pick-up restaurant” in New York City.', 'The prototype concept has no seating and it only makes food for delivery or takeout.', 'To be sure, there is a customer preference for autonomous ordering, especially among the “born digital” demographic, or younger consumers, said Marbue Brown, founder of The Customer Obsession Advantage, an independent tech and customer experience consultancy to tech and retail companies.', '“We’ve all been to restaurants where we’ve sat down and waited for quite a long time for someone to come over to ask for your order,” Brown said. “', 'If you could place that order without having to wait for someone to take it, that’s a plus for you.', 'So yes, self-service kiosks is about reducing costs, but it is also about providing a positive customer experience, and convenience.', 'This has nothing to do with minimum wage.”', 'However, the minimum wage increase serves as an accelerant, Brown said. “', 'It’s not that these changes were not going to happen already, it’s that tech adoption might happen a lot faster in certain geographies.”', 'Brown expects restaurants in California affected by the minimum wage law to explore all options to keep prices for customers in check.', '“If automation is one of those things, and they can do it effectively, they will definitely use it,” he said. “', 'I don’t think they will eliminate their workers en masse, but they will try to have a mix where it’s a hybrid environment of ordering with a kiosk and with a person.', 'It’s about finding the right formula.”', 'Harsh Ghai, a fast-food franchisee who owns 180 Burger King, Taco Bell and Popeyes locations, says automation is a fact of life for the industry.', 'But despite the labor woes affecting the industry, Ghai said the wage hike would only spur him to install more self-service kiosks.', 'Prior to the minimum wage hike, Ghai said 25% of his locations already had self-service kiosks systems. “', 'The initial plan was to install them in all of our locations over the next five to 10 years,” he said.', 'Since April 1, he has dramatically shortened that timeframe.', 'Ghai is scrambling to get a hold of as many self service kiosks as he can from vendors because he wants to install them in all of his restaurants in California over the next 30 to 60 days. “', 'Everyone’s trying to get them,” he said.', 'He also wants to enable AI-powered drive thru ordering in all locations. “', 'The goal is to be 100% AI order taking capability this time next year,” he said in an interview with CNN.', 'And he’s now adding self-service kiosks directly on the front counter of restaurants with the aim to remove registers completely.', 'The changes are necessary, said Ghai, who employs 3,700 fast food workers in California. “', 'The wage increase has significantly raised our labor costs,” Ghai said. “', 'Our first payroll post [wage] hike will be on April 15 and it will be 25% higher than it was last month.”', 'While he’s not looking to lay off workers, using technology will help to shave hours and costs, he said.', '“Undoubtedly we will lose some people.', 'There’s no way around it.', 'If we continue to maintain our current menu pricing and absorb higher labor costs, 100% of our restaurants won’t be profitable,” Ghai said. “', 'We can’t raise menu prices because that will hurt traffic and we’ve already seen in the media the backlash from customers having to pay more for burgers because of food price inflation.”', 'Jot Condie, president and CEO of the California Restaurant Association, a trade group representing the state’s restaurant industry, said he’s aware that some restaurant operators have announced that they will either not expand, or are closing locations because of the minimum wage hike.', '“From here on, what will drive the accelerated rate of technology use is necessity and not just that customers want it,” Condie said.', 'Ghai closed eight restaurants last year and six more already this year. “', 'And this is all before the wage increase even happened,” he said.']",0.1112596772326028,"This council can also recommend standards for fast food worker safety, as well as work with existing state agencies to investigate issues like wage theft.",We can’t raise menu prices because that will hurt traffic and we’ve already seen in the media the backlash from customers having to pay more for burgers because of food price inflation.”,0.6011242005560133,"The trend predates the pandemic, and its popularity picked up steam through it.","If we continue to maintain our current menu pricing and absorb higher labor costs, 100% of our restaurants won’t be profitable,” Ghai said. “",2024-04-11 -Eclipse flights swarm airports: 'We had to close the runway to park planes',https://www.cnbc.com/2024/04/08/solar-eclipse-flights-swarm-small-airports.html,2024-04-08T22:58:57+0000,"Monday's solar eclipse is giving some of the country's smaller airports their moment in the sun.The Federal Aviation Administration reported arriving flights at airports from Burlington, Vermont, to southern Illinois were briefly halted Monday morning ahead of the total eclipse.Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday. The best views of the solar eclipse in the U.S. span from Texas through Illinois, Kentucky and Ohio to northwestern New York and Maine, according to NASA.FAA traffic adjustments give airports time to catch up and avoid airplane parking jams on the ground.""We had to close the runway to park planes,"" Alyssa Connell, head of operations at Southern Illinois Airport in Murphysboro, Illinois, told CNBC. The airport, which has three runways, took reservations for eclipse flights and on Friday reached its maximum threshold for 230 small propeller aircraft and about 45 larger jets and larger turboprops. ""This is by far the most aircraft we've ever seen.""Patrick Leahy Burlington International Airport in Vermont is scheduled to receive between 100 and 130 general aviation planes on Monday, said Dave Carman, deputy director of aviation operations. It's also expecting some scheduled commercial passenger jet traffic.""It's the most we've seen in a day,"" Carman said. ""It's going to be hectic getting out,"" he said.The eclipse was called out as a major event on the FAA's morning planning call at its command center in Warrenton, Virginia, according to an agency spokeswoman. Other common obstacles include presidential travel, severe weather or major sports and entertainment events.The FAA had previously warned pilots about possible disruptions and heavy traffic at a host of airports on or near the eclipse's path.Delta Air Lines sold special eclipse flights during which passengers could view it from the sky, one from Dallas/Fort Worth International Airport to Detroit and another from Austin, Texas, to Detroit.Other airlines have called out flights that could offer views of the eclipse along the ""path of totality."" United Airlines said bookings to San Antonio more than doubled around the eclipse compared with the same dates last year and surged in Cleveland and Little Rock, Arkansas.The eclipse is expected to be a boon for hotels, house rentals and other businesses as tourists swarm in.",CNBC,08/04/2024,"[""Monday's solar eclipse is giving some of the country's smaller airports their moment in the sun."", 'The Federal Aviation Administration reported arriving flights at airports from Burlington, Vermont, to southern Illinois were briefly halted Monday morning ahead of the total eclipse.', 'Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday.', 'The best views of the solar eclipse in the U.S. span from Texas through Illinois, Kentucky and Ohio to northwestern New York and Maine, according to NASA.FAA traffic adjustments give airports time to catch up and avoid airplane parking jams on the ground.', '""We had to close the runway to park planes,"" Alyssa Connell, head of operations at Southern Illinois Airportin Murphysboro, Illinois, told CNBC.', 'The airport, which has three runways, took reservations for eclipse flights and on Friday reached its maximum threshold for 230 small propeller aircraft and about 45 larger jets andlarger turboprops. ""', ""This is by far the most aircraft we've ever seen."", '""Patrick Leahy Burlington International Airport in Vermont is scheduled to receive between 100 and 130 general aviation planes on Monday, said Dave Carman, deputy director of aviation operations.', ""It's also expecting some scheduled commercial passenger jet traffic."", '""It\'s the most we\'ve seen in a day,"" Carman said. ""', 'It\'s going to be hectic getting out,"" he said.', ""The eclipse was called out as a major event on the FAA's morning planning call at its command center in Warrenton, Virginia, according to an agency spokeswoman."", 'Other common obstacles include presidential travel, severe weather or major sports and entertainment events.', ""The FAA had previouslywarned pilotsabout possible disruptions and heavy traffic at a host of airports on or near the eclipse's path."", 'Delta Air Lines sold special eclipse flights during which passengers could view it from the sky, one from Dallas/Fort Worth International Airport to Detroit and another from Austin, Texas, to Detroit.', 'Other airlines have called out flights that could offer views of the eclipse along the ""path of totality.""', 'United Airlines said bookings to San Antonio more than doubled around the eclipse compared with the same dates last year and surged in Cleveland and Little Rock, Arkansas.', 'The eclipse is expected to be a boon for hotels, house rentals and other businesses as tourists swarm in.']",0.0381660378961861,"Delta Air Lines sold special eclipse flights during which passengers could view it from the sky, one from Dallas/Fort Worth International Airport to Detroit and another from Austin, Texas, to Detroit.","Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday.",0.1714410015514918,"United Airlines said bookings to San Antonio more than doubled around the eclipse compared with the same dates last year and surged in Cleveland and Little Rock, Arkansas.","Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday.",2024-04-11 -"Oil price surge is the No. 1 threat to the US economy, Moody’s economist warns",https://edition.cnn.com/2024/04/08/business/oil-price-surge-threat-us-economy/index.html," - Published - 6:00 AM EDT, Mon April 8, 2024 - ","The US jobs market is on fire. Consumer spending is strong. And the economy is growing at a brisk pace. - - But there is a growing threat to that sunny economic backdrop: surging oil prices. - - US oil prices are rapidly approaching $90 a barrel. Global oil prices are flirting with $92 a barrel amid worries about a wider war in the Middle East. And this has lifted gasoline prices to their highest levels in five months. - - The risk is oil prices keep climbing, hurting consumer spending and undoing the meaningful progress on inflation. That could cause the Federal Reserve to delay interest rate cuts and spook investors on Wall Street. - - “It’s the most serious threat to the economy,” Moody’s chief economist Mark Zandi told CNN in a phone interview. “Nothing does more damage to the economy more quickly than higher oil prices.” - - Not only that, but enormous political consequences could follow if gasoline prices spike above $4 a gallon and stay there. - - Moody’s published a model earlier this year that showed gas prices are a key variable in the November election, one that could tip the scales in the favor of former President Donald Trump. - - “If they go above $4 a gallon for more than two or three months, Trump will win,” Zandi said. - - US oil prices surged above $87 a barrel late last week for the first time since late October, leaving them up about 21% this year. - - “We can digest $85 or $90 oil. If we go over $90 and closer to $100, that’s a problem,” Zandi said. “Consumers are going to get nailed – especially lower-income households. And it undermines confidence. People look at the price of gas as a litmus test for their own financial situation.” - - This oil price rally has been driven in large part by war. - - First, drone attacks on oil refineries deep inside Russia helped lift oil prices last month. - - Now, the focus is on the Middle East and how Iran will respond to last week’s deadly airstrike on its embassy complex in Syria. - - Iranian officials have vowed to retaliate against Israel, which hasn’t claimed responsibility for the attack but has argued that the target was a “military building of Quds forces” — a unit of the Iranian Revolutionary Guards responsible for foreign operations. - - “The probability of a supply disruption is rising. There is a fear of a retaliatory strike that could lead to a disruption,” said Andy Lipow, president of Lipow Oil Associates. “It’s very easy to see $95 Brent. If another geopolitical event occurs in the Middle East, $100 Brent is not out of the question.” - - Helima Croft, a former CIA analyst who is now global head of commodity strategy at RBC Capital Markets, told clients in a note that there is a risk that this “tit-for-tat cycle expands into a wider conflict than what some of the key stakeholders are seeking.” - - Joe Brusuelas, chief economist at RSM, said the “greatest external risk to the US economy is geopolitical tensions in the Middle East” because they would boost oil and gasoline prices. - - “Combined they are the only thing in the near term that could cause an end to the current business cycle,” Brusuelas said. - - However, Brusuelas said oil prices would have to spike much higher – to around $115 to $130 per barrel – before it raises the specter of a recession. - - Gas prices climbed to $3.58 a gallon on average nationally on Friday, according to AAA. That’s up four cents in a week and 21 cents in a month. - - Beyond the Middle East tensions, oil and gas prices have been boosted by OPEC and its allies, which continue to restrain supply. - - Strong seasonal factors also are at at play. Gasoline prices typically rise in the spring as refineries switch over to more expensive summer fuel and as more people hit the roads, boosting demand. - - The higher gas prices go, the worse upcoming inflation readings will look. Fed officials will be combing through the next few inflation reports very closely as they debate whether to cut interest rates in June. - - Vincent Reinhart, a former Fed economist who is now chief economist at Dreyfus and Mellon, told CNN the risk to inflation is on the upside because of goods prices, including commodities. - - “Commodity prices matter a lot. That could dislodge the favorable goods price developments,” Reinhart said. “Oil prices in particular really resonate with households. They oversample with that.” - - Reinhart thinks the Fed will cut interest rates in June, in part because officials will want to get ahead of the election season when their strategy will be subject to more intense political scrutiny. - - “The election season is going to just get more toxic,” he said. “For the Fed to change the course of policy right in the runup to the election after the national conventions is just going to call a lot of attention to it and call into question its policy intent.” - - The good news is that despite the growing risks, some energy market veterans are standing by their cautiously optimistic forecasts. - - Lipow expects the national average to climb toward $3.70 a gallon in the coming weeks, but he’s still not calling for $4 a gallon. - - Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN that he is still expecting gas prices to average in the upper-$3 range unless a major hurricane damages US refineries. - - “I still don’t think a $4 a gallon national average is imminent,” De Haan said.",CNN,08/04/2024,"['The US jobs market is on fire.', 'Consumer spending is strong.', 'And the economy is growing at a brisk pace.', 'But there is a growing threat to that sunny economic backdrop: surging oil prices.', 'US oil prices are rapidly approaching $90 a barrel.', 'Global oil prices are flirting with $92 a barrel amid worries about a wider war in the Middle East.', 'And this has lifted gasoline prices to their highest levels in five months.', 'The risk is oil prices keep climbing, hurting consumer spending and undoing the meaningful progress on inflation.', 'That could cause the Federal Reserve to delay interest rate cuts and spook investors on Wall Street.', '“It’s the most serious threat to the economy,” Moody’s chief economist Mark Zandi told CNN in a phone interview. “', 'Nothing does more damage to the economy more quickly than higher oil prices.”', 'Not only that, but enormous political consequences could follow if gasoline prices spike above $4 a gallon and stay there.', 'Moody’s published a model earlier this year that showed gas prices are a key variable in the November election, one that could tip the scales in the favor of former President Donald Trump.', '“If they go above $4 a gallon for more than two or three months, Trump will win,” Zandi said.', 'US oil prices surged above $87 a barrel late last week for the first time since late October, leaving them up about 21% this year.', '“We can digest $85 or $90 oil.', 'If we go over $90 and closer to $100, that’s a problem,” Zandi said. “', 'Consumers are going to get nailed – especially lower-income households.', 'And it undermines confidence.', 'People look at the price of gas as a litmus test for their own financial situation.”', 'This oil price rally has been driven in large part by war.', 'First, drone attacks on oil refineries deep inside Russia helped lift oil prices last month.', 'Now, the focus is on the Middle East and how Iran will respond to last week’s deadly airstrike on its embassy complex in Syria.', 'Iranian officials have vowed to retaliate against Israel, which hasn’t claimed responsibility for the attack but has argued that the target was a “military building of Quds forces” — a unit of the Iranian Revolutionary Guards responsible for foreign operations.', '“The probability of a supply disruption is rising.', 'There is a fear of a retaliatory strike that could lead to a disruption,” said Andy Lipow, president of Lipow Oil Associates. “', 'It’s very easy to see $95 Brent.', 'If another geopolitical event occurs in the Middle East, $100 Brent is not out of the question.”', 'Helima Croft, a former CIA analyst who is now global head of commodity strategy at RBC Capital Markets, told clients in a note that there is a risk that this “tit-for-tat cycle expands into a wider conflict than what some of the key stakeholders are seeking.”', 'Joe Brusuelas, chief economist at RSM, said the “greatest external risk to the US economy is geopolitical tensions in the Middle East” because they would boost oil and gasoline prices.', '“Combined they are the only thing in the near term that could cause an end to the current business cycle,” Brusuelas said.', 'However, Brusuelas said oil prices would have to spike much higher – to around $115 to $130 per barrel – before it raises the specter of a recession.', 'Gas prices climbed to $3.58 a gallon on average nationally on Friday, according to AAA.', 'That’s up four cents in a week and 21 cents in a month.', 'Beyond the Middle East tensions, oil and gas prices have been boosted by OPEC and its allies, which continue to restrain supply.', 'Strong seasonal factors also are at at play.', 'Gasoline prices typically rise in the spring as refineries switch over to more expensive summer fuel and as more people hit the roads, boosting demand.', 'The higher gas prices go, the worse upcoming inflation readings will look.', 'Fed officials will be combing through the next few inflation reports very closely as they debate whether to cut interest rates in June.', 'Vincent Reinhart, a former Fed economist who is now chief economist at Dreyfus and Mellon, told CNN the risk to inflation is on the upside because of goods prices, including commodities.', '“Commodity prices matter a lot.', 'That could dislodge the favorable goods price developments,” Reinhart said. “', 'Oil prices in particular really resonate with households.', 'They oversample with that.”', 'Reinhart thinks the Fed will cut interest rates in June, in part because officials will want to get ahead of the election season when their strategy will be subject to more intense political scrutiny.', '“The election season is going to just get more toxic,” he said. “', 'For the Fed to change the course of policy right in the runup to the election after the national conventions is just going to call a lot of attention to it and call into question its policy intent.”', 'The good news is that despite the growing risks, some energy market veterans are standing by their cautiously optimistic forecasts.', 'Lipow expects the national average to climb toward $3.70 a gallon in the coming weeks, but he’s still not calling for $4 a gallon.', 'Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN that he is still expecting gas prices to average in the upper-$3 range unless a major hurricane damages US refineries.', '“I still don’t think a $4 a gallon national average is imminent,” De Haan said.']",-0.0257662762891247,"The good news is that despite the growing risks, some energy market veterans are standing by their cautiously optimistic forecasts.","“It’s the most serious threat to the economy,” Moody’s chief economist Mark Zandi told CNN in a phone interview. “",-0.1741333978516714,That’s up four cents in a week and 21 cents in a month.,Global oil prices are flirting with $92 a barrel amid worries about a wider war in the Middle East.,2024-04-11 -India's army of gold refiners face new competition,https://www.bbc.co.uk/news/business-68596195,2024-03-28T23:19:19.000Z,"Refining gold has a long history in the family of Satish Pratap Salunke. Following in the footsteps of his father and grandfather, he and his business collect scrap gold from jewellers, melt it down and sell it back to the jewellers in the form of gold bars. He has two refineries, one in Kochi in the southern state of Kerala and the other in Tiruchirappalli in Tamil Nadu. Relatives have refineries elsewhere in the south of India. ""Every day my refiners on an average melt two to three kilograms of gold,"" he says. Almost every town in India will have at least one small refinery similar to those run by Mr Salunke. It is known as the ""unorganised"" refining sector, which distinguishes it from big refiners who make gold bars and coins from imported, unrefined gold. It is estimated that, in total, Indian households hold a massive 25,000 tonnes of gold, and some of that is always available for sale, particularly when the price of gold is high or the economy is bad and people want to raise some cash. Jewellers may process returned gold themselves but will often use small refiners who will make the gold back into bars. Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. ""Most jewellers prefer buying gold from us, as we are based in every city with small units. A jeweller can take back his refined gold in a few hours, not like big refiners who will take days to refine the recycled gold."" According to the World Gold Council, of the 900 tonnes of gold refined in India in 2023, 117 came from recycled sources. But that recycling market is being eyed up by India's big industrial gold refiners. They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré. Between 2013 and 2021, India's large-scale refiners increased their capacity from 300 to 1,800 tonnes of gold a year. But it is difficult for them to import enough unrefined gold to keep their refineries running. In fact, less than 50% of their refining capacity is used, according to Harshad Ajmera, secretary of the Association of Gold Refiners and Mints. So big refiners have been opening scrap collection centres in big cities, hoping to scoop up unwanted gold and turn it into high-quality bars. ""At present most of the recycling of gold is done by the unorganised sector [small refiners] - that has to change,"" says Mr Ajmera. More technology of business He wants India to become a global hub for gold refining, which would mean importing more unrefined gold and for the big firms to take over more of the gold recycling. ""Switzerland is the world's largest gold refining centre and transit hub. We want India also to be in the same position,"" says Mr Ajmera. CGR Metalloys is one of India's leading gold refiners, refining about 150 tonnes of gold a year. Like the other big players, it has the latest equipment for gold smelting and refining, which it says is better for the environment and can guarantee the purity of its gold to extremely high levels. ""The refined bullion is analysed to the highest levels of accuracy, on various methods of gold assaying,"" says James Jose, managing director at CGR. It has opened three gold recycling centres in the state of Kerala. ""Indian refineries have a huge capacity... we have huge overheads. So setting up collection centres will increase the flow of scrap gold. This will help increase my output by 30% to 40%,"" says Mr Jose. In recent years, the government has become more involved in the refining industry. In 2020 the Bureau of Indian Standards (BIS) introduced a range of standards for gold bars including purity, weight, markings and dimensions. BIS-approved refiners can sell their bars to the commodity markets. ""The industry is gradually shifting towards greater organisation and efficiency, led by established refineries licensed by the Bureau of Indian Standards, which is setting trusted benchmarks for refined gold products, which will make India a global hub,"" says Somasundaram PR, the chief executive of the World Gold Council India. Some figures suggest that smaller refiners are losing ground. According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%. The moves made by big recycling firms do not concern Mr Salunke much - he says he knows his customers. ""Local jewellers are not willing to pay a recycling cost which is too much beyond what we charge,"" he says. And, like other smaller refiners, Mr Salunke has also been investing in modern refining technology. ""The gold recycled by us is as pure as gold recycled by an organised refinery,"" says Mr Salunke. ""Now we have a testing facility to check the purity, so it would be wrong to say we cannot refine gold into its purest form."" ",BBC,28/03/2024,"['Refining gold has a long history in the family of Satish Pratap Salunke.', 'Following in the footsteps of his father and grandfather, he and his business collect scrap gold from jewellers, melt it down and sell it back to the jewellers in the form of gold bars.', 'He has two refineries, one in Kochi in the southern state of Kerala and the other in Tiruchirappalli in Tamil Nadu.', 'Relatives have refineries elsewhere in the south of India. ""', 'Every day my refiners on an average melt two to three kilograms of gold,"" he says.', 'Almost every town in India will have at least one small refinery similar to those run by Mr Salunke.', 'It is known as the ""unorganised"" refining sector, which distinguishes it from big refiners who make gold bars and coins from imported, unrefined gold.', 'It is estimated that, in total, Indian households hold a massive 25,000 tonnes of gold, and some of that is always available for sale, particularly when the price of gold is high or the economy is bad and people want to raise some cash.', 'Jewellers may process returned gold themselves but will often use small refiners who will make the gold back into bars.', 'Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. ""', 'Most jewellers prefer buying gold from us, as we are based in every city with small units.', 'A jeweller can take back his refined gold in a few hours, not like big refiners who will take days to refine the recycled gold.""', 'According to the World Gold Council, of the 900 tonnes of gold refined in India in 2023, 117 came from recycled sources.', ""But that recycling market is being eyed up by India's big industrial gold refiners."", 'They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré.', ""Between 2013 and 2021, India's large-scale refiners increased their capacity from 300 to 1,800 tonnes of gold a year."", 'But it is difficult for them to import enough unrefined gold to keep their refineries running.', 'In fact, less than 50% of their refining capacity is used, according to Harshad Ajmera, secretary of the Association of Gold Refiners and Mints.', 'So big refiners have been opening scrap collection centres in big cities, hoping to scoop up unwanted gold and turn it into high-quality bars. ""', 'At present most of the recycling of gold is done by the unorganised sector [small refiners] - that has to change,"" says Mr Ajmera.', 'More technology of business He wants India to become a global hub for gold refining, which would mean importing more unrefined gold and for the big firms to take over more of the gold recycling. ""', ""Switzerland is the world's largest gold refining centre and transit hub."", 'We want India also to be in the same position,"" says Mr Ajmera.', ""CGR Metalloys is one of India's leading gold refiners, refining about 150 tonnes of gold a year."", 'Like the other big players, it has the latest equipment for gold smelting and refining, which it says is better for the environment and can guarantee the purity of its gold to extremely high levels. ""', 'The refined bullion is analysed to the highest levels of accuracy, on various methods of gold assaying,"" says James Jose, managing director at CGR.', 'It has opened three gold recycling centres in the state of Kerala. ""', 'Indian refineries have a huge capacity... we have huge overheads.', 'So setting up collection centres will increase the flow of scrap gold.', 'This will help increase my output by 30% to 40%,"" says Mr Jose.', 'In recent years, the government has become more involved in the refining industry.', 'In 2020 the Bureau of Indian Standards (BIS) introduced a range of standards for gold bars including purity, weight, markings and dimensions.', 'BIS-approved refiners can sell their bars to the commodity markets. ""', 'The industry is gradually shifting towards greater organisation and efficiency, led by established refineries licensed by the Bureau of Indian Standards, which is setting trusted benchmarks for refined gold products, which will make India a global hub,"" says Somasundaram PR, the chief executive of the World Gold Council India.', 'Some figures suggest that smaller refiners are losing ground.', 'According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%.', 'The moves made by big recycling firms do not concern Mr Salunke much - he says he knows his customers. ""', 'Local jewellers are not willing to pay a recycling cost which is too much beyond what we charge,"" he says.', 'And, like other smaller refiners, Mr Salunke has also been investing in modern refining technology. ""', 'The gold recycled by us is as pure as gold recycled by an organised refinery,"" says Mr Salunke. ""', 'Now we have a testing facility to check the purity, so it would be wrong to say we cannot refine gold into its purest form.""']",0.0819156075923504,"Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. """,But it is difficult for them to import enough unrefined gold to keep their refineries running.,0.5371810131602817,"They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré.","According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%.",2024-04-11 -Bilt’s March Rent Day promotion: Vote for your favorite benefit with the Bilt Bracket,https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion," - Updated - 10:57 AM EST, Mon February 26, 2024 - ","The relatively new Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception. With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years. - - And in addition to their strong program, Bilt Rewards — the loyalty program behind the Bilt Mastercard — also offers some favorable promotions throughout the year, with the most popular known as Rent Day. - - With Bilt’s Rent Day promotion — which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month. Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to. - - Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one. Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick. - - A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit. Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round. The last standing offer will then be the Rent Day benefit on March 1. - - And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case). - - Let’s take a closer look at how this bracket will work and the Rent Day offer options. - - For four days straight — between Feb. 26 and Feb. 29 — Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com. There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket. - - The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1. - - However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer, giving select members two bonus opportunities on Rent Day. - - With 16 different offers, some are significantly better than others. Although, the best offer for you might truly depend on how you engage in the Bilt program. Check the Bilt app or website to see the full list of promotions you can vote on. - - For me, the offers that allow me to earn bonus points on specific purchases — such as bonus points at Bilt Dining restaurants — will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example. - - Voting is incredible quick and can easily be completed alongside your morning coffee. Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far. - - On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games. Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix. - - You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority. This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. - - Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent). - - So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar. But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits). - - Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions. Let’s see which bonus offer wins this month. - - Learn more and apply now for the Bilt Mastercard. - - Find out which cards CNN Underscored Money chose as the best credit cards currently available.",CNN,26/02/2024,"['The relatively new Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception.', 'With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month.', 'Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.', 'Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one.', 'Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.', 'A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit.', 'Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round.', 'The last standing offer will then be the Rent Day benefit on March 1.', 'And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).', 'Let’s take a closer look at how this bracket will work and the Rent Day offer options.', 'For four days straight —between Feb. 26 and Feb. 29 —Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com.', 'There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.', 'The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.', 'However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer,giving select members two bonus opportunities on Rent Day.', 'With 16 different offers, some are significantly better than others.', 'Although, the best offer for you might truly depend on how you engage in the Bilt program.', 'Check the Bilt app or website to see the full list of promotions you can vote on.', 'For me, the offers that allow me to earn bonus points on specific purchases —such as bonus points at Bilt Dining restaurants —will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.', 'Voting is incredible quick and can easily be completed alongside your morning coffee.', 'Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.', 'On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games.', 'Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.', 'You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority.', 'This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).', 'Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions.', 'Let’s see which bonus offer wins this month.', 'Learn more and apply now for the Bilt Mastercard.', 'Find out which cards CNN Underscored Money chose as the best credit cardscurrently available.']",0.5132379666371525,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,0.9566517621278764,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,2024-04-11 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-04-11 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-04-11 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-04-11 -Your ultimate guide to the American Express Membership Rewards program,https://edition.cnn.com/cnn-underscored/travel/american-express-membership-rewards-guide," - Updated - 1:03 PM EDT, Mon April 1, 2024 - ","American Express Membership Rewards® are among the most valuable travel rewards points out there. That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them. - - In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio. - - Having Membership Rewards points gives you options, and that’s always a good thing. If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards. - - You can earn Membership Rewards points in various ways. Some require little effort, while others involve a heavier lift. It’s a good idea to take advantage of all the options out there in order to maximize your earnings. Here’s a look at how to earn Membership Rewards most efficiently. - - The primary way to earn Amex points is through credit cards that earn Membership Rewards. Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points. - - These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card. With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance. Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards. - - Keep in mind, too, that many of these cards carry an annual fee: - - All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored. - - Similarly, American Express offers a suite of business credit cards. - - All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored. - - Keep in mind that several of these cards also carry an annual fee: - - Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses. If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year). - - If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel. Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others. - - When applying for American Express cards, be sure to take note of the application rules. For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days. Before applying for a credit card, it’s important to do your research. - - As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer. One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points. - - Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings. That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases. - - Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger. - - If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends. - - American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card. You can earn up to 20,000 points per successful approval, though the exact bonus varies by card. - - To find out your card’s current referral bonus, head over to the Amex referral site. You’ll see referral bonuses based on your card. Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card. You can also copy the referral link on the page and share that with your friends and family directly. - - Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family. Keep in mind there is a limit to how many friends you can refer in a year. - - Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards. For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel. - - As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection. In general, booking travel through American Express pays off in more ways than one. - - Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers. With Amex Offers, card holders can earn statement credits or bonus points at select retailers. In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making. - - To find and take advantage of Amex Offers, you’ll need to log in to your account. From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page. Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer. From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase. Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make. - - Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards. It’s a great way to earn Membership Rewards points on regular purchases, without much added effort. - - If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards. Simply log into your account and follow these steps: - - After this, rewards get transferred to your Membership Rewards account quarterly. - - Now, for the fun part! Once you’ve earned Membership Rewards points, it’s time to put them to good use. Amex gives you several options to redeem points, but the best option is travel. You can choose between statement credits for travel bookings or transferring them to airline or hotel partners. - - Here’s a closer look at your options and how they work. - - American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners. The best way to redeem Membership Rewards for maximum value is through airline transfers. But keep in mind that not all airline loyalty programs are equal. - - Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points. - - If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate. - - It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels. So, at times, you can get more points in return than the standard transfer rate listed above. Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less. - - By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. - - Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines. - - Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you. But, some redemptions are better than others — particularly when it comes to award sweet spots. - - Some examples of these sweet spot awards using your Amex Membership Rewards points include the following: - - Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners. But that may not always make sense for all card holders — and it’s not your only option. - - If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions. This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards. - - Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value. If you’re looking to maximize the value of your Amex points, this isn’t the best route to take. - - You’ll get slightly more value by redeeming your Membership Rewards for travel bookings. By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings. Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel. - - If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value. However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there. - - Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points. However, that’s not always the case for everyone. You may want to save a few dollars here or there on a purchase you’re making online. Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more. - - When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them. The value you can get ranges from about 0.6 cents each to about 2 cents each. Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece. - - Amex offers 0.6 cents per point in value when you use points for statement credits. Meanwhile, travel bookings will get you a somewhat higher 1 cent per point. The highest value comes from transferring points to airline and hotel partners, as detailed above. Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions. - - American Express Membership Rewards points are some of the most versatile and valuable out there. By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more. Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding. - - Click here for rates and fees of the Amex Platinum card.Click here for rates and fees of the Amex Gold card.Click here for rates and fees of the Amex Business Platinum card.Click here for rates and fees of the Amex Business Gold card.Click here for rates and fees of the Amex Blue Business Plus card. - - Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,01/04/2024,"['American Express Membership Rewards® are among the most valuable travel rewards points out there.', 'That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.', 'In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.', 'Having Membership Rewards points gives you options, and that’s always a good thing.', 'If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.', 'You can earn Membership Rewards points in various ways.', 'Some require little effort, while others involve a heavier lift.', 'It’s a good idea to take advantage of all the options out there in order to maximize your earnings.', 'Here’s a look at how to earn Membership Rewards most efficiently.', 'The primary way to earn Amex points is through credit cards that earn Membership Rewards.', 'Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.', 'These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card.', 'With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.', 'Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.', 'Keep in mind, too, that many of these cards carry an annual fee: All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.', 'Similarly, American Express offers a suite of business credit cards.', 'All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.', 'Keep in mind that several of these cards also carry an annual fee: Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses.', 'If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).', 'If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel.', 'Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.', 'When applying for American Express cards, be sure to take note of the application rules.', 'For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days.', 'Before applying for a credit card, it’s important to do your research.', 'As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer.', 'One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.', 'Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings.', 'That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.', 'If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.', 'American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card.', 'You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.', 'To find out your card’s current referral bonus, head over to the Amex referral site.', 'You’ll see referral bonuses based on your card.', 'Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card.', 'You can also copy the referral link on the page and share that with your friends and family directly.', 'Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family.', 'Keep in mind there is a limit to how many friends you can refer in a year.', 'Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards.', 'For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.', 'As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection.', 'In general, booking travel through American Express pays off in more ways than one.', 'Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers.', 'With Amex Offers, card holders can earn statement credits or bonus points at select retailers.', 'In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.', 'To find and take advantage of Amex Offers, you’ll need to log in to your account.', 'From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page.', 'Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer.', 'From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase.', 'Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.', 'Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards.', 'It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.', 'If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards.', 'Simply log into your account and follow these steps: After this, rewards get transferred to your Membership Rewards account quarterly.', 'Now, for the fun part!', 'Once you’ve earned Membership Rewards points, it’s time to put them to good use.', 'Amex gives you several options to redeem points, but the best option is travel.', 'You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.', 'Here’s a closer look at your options and how they work.', 'American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners.', 'The best way to redeem Membership Rewards for maximum value is through airline transfers.', 'But keep in mind that not all airline loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.', 'It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels.', 'So, at times, you can get more points in return than the standard transfer rate listed above.', 'Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.', 'By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.', 'Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you.', 'But, some redemptions are better than others — particularly when it comes to award sweet spots.', 'Some examples of these sweet spot awards using your Amex Membership Rewards points include the following: Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions.', 'This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.', 'Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value.', 'If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.', 'You’ll get slightly more value by redeeming your Membership Rewards for travel bookings.', 'By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings.', 'Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.', 'If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value.', 'However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.', 'Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points.', 'However, that’s not always the case for everyone.', 'You may want to save a few dollars here or there on a purchase you’re making online.', 'Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.', 'When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them.', 'The value you can get ranges from about 0.6 cents each to about 2 cents each.', 'Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.', 'Amex offers 0.6 cents per point in value when you use points for statement credits.', 'Meanwhile, travel bookings will get you a somewhat higher 1 cent per point.', 'The highest value comes from transferring points to airline and hotel partners, as detailed above.', 'Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.', 'American Express Membership Rewards points are some of the most versatile and valuable out there.', 'By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more.', 'Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.', 'Click here for rates and fees of the Amex Platinum card.', 'Click here for rates and fees of the Amex Gold card.', 'Click here for rates and fees of the Amex Business Platinum card.', 'Click here for rates and fees of the Amex Business Gold card.', 'Click here for rates and fees of the Amex Blue Business Plus card.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.5246481979610982,"If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.",But keep in mind that not all airline loyalty programs are equal.,0.9622429311275482,"With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.",,2024-04-11 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-04-11 -Tesla settles with Apple engineer’s family who said Autopilot caused his fatal crash,https://edition.cnn.com/2024/04/08/tech/tesla-trial-wrongful-death-walter-huang/index.html," - Updated - 7:29 PM EDT, Mon April 8, 2024 - ","Tesla has settled a high-profile case that was set to put the electric car company and its controversial automated-driving system on trial starting Monday. - - Terms of the settlement were not disclosed. Jury selection was set to begin Monday in a wrongful death suit filed by the family of a former Apple engineer who died after his Tesla Model X crashed while the Autopilot feature was engaged. The trial could have lasted several weeks, but the parties settled Monday. - - Walter Huang was killed when his Tesla struck a concrete highway median in Silicon Valley on March 23, 2018. The National Transportation Safety Board, in its investigation, found that Autopilot was engaged for nearly 19 minutes before the fatal crash, when the car, traveling at 71 mph, veered off the highway. - - The settlement marks another crucial moment for an embattled company that has lost popularity and a third of its market value this year. CEO Elon Musk and the company say that its Autopilot and Full Self-Driving technologies are ahead of the competition and a big reason why Tesla has become the world’s largest electric vehicle maker — just ahead of Chinese rival BYD. But Huang’s family said Tesla oversold its Autopilot technology’s capabilities, and that it is not as safe to use as advertised. - - Representatives for Huang’s family and Tesla did not immediately respond to requests for comment. - - Tesla has come under intense scrutiny for its Autopilot technology over the six years since Huang’s fatal crash. After a two-year investigation that analyzed 1,000 Tesla crashes while vehicles had Autopilot engaged, the National Highway Traffic Safety Administration said the Autopilot system can give drivers a false sense of security. It can be easily misused in certain dangerous situations when Autopilot may be unable to safely navigate the road, NHTSA found in December 2023. - - NHTSA and the National Transportation Safety Board have also been investigating crashes involving Tesla vehicles using the various driver assist features, including a series of crashes into emergency vehicles on the scene of other accidents. - - Immediately following the December NHTSA report, Tesla recalled all 2 million of its cars in the United States, giving drivers more warnings when Autopilot is engaged and they are not paying attention to the road or placing their hands on the wheel. - - Yet the company maintains that the technology is safe to use when used correctly and reduces fatalities. Autopilot requires drivers to keep their hands on the wheel and Tesla says people who use the automated-driving technology should keep their eyes on the road. - - That didn’t happen in the case of Huang’s crash, Tesla has said. In a March 30, 2018, blog post, Tesla said Huang’s hands were not detected on his car’s steering wheel for six seconds prior to the crash. The company said it believes Huang was responsible for the crash because investigators found he was playing a video game on his phone while Autopilot was engaged. Huang did not brake or attempt to steer his car away from the concrete barrier before it crashed. - - Although Huang’s family acknowledges he was distracted while the car was driving, they argued Tesla is at fault because it falsely marketed Autopilot as self-driving software. They alleged Tesla knew that Autopilot was not ready for prime time and had flaws that could make its use unsafe. - - Tesla did not respond to a request for comment on the allegations. - - “Mrs. Huang lost her husband, and two children lost their father because Tesla is beta testing its Autopilot software on live drivers,” said B. Mark Fong, the lawyer who brought the suit filed in California state court in a May 2019 complaint. - - If a jury had found in favor of Huang’s family, Tesla could have been forced to pay damages, and they could have added up quickly. Wrongful death suits involving big companies have at times resulted in awards north of $1 billion. - - Autopilot’s promise has also helped to boost Tesla’s stock in recent years to make it the most valuable automaker in the world — even as its stock is among the worst-performers in 2024. Musk in October 2023 on a call with analysts said autonomous driving “has the potential to make Tesla the most valuable company in the world by far.” - - Tesla’s stock (TSLA) rose 5% Monday.",CNN,08/04/2024,"['Tesla has settled a high-profile case that was set to put the electric car company and its controversial automated-driving system on trial starting Monday.', 'Terms of the settlement were not disclosed.', 'Jury selection was set to begin Monday in a wrongful death suit filed by the family of a former Apple engineer who died after his Tesla Model X crashed while the Autopilot feature was engaged.', 'The trial could have lasted several weeks, but the parties settled Monday.', 'Walter Huang was killed when his Tesla struck a concrete highway median in Silicon Valley on March 23, 2018.', 'The National Transportation Safety Board, in its investigation, found that Autopilot was engaged for nearly 19 minutes before the fatal crash, when the car, traveling at 71 mph, veered off the highway.', 'The settlement marks another crucial moment for an embattled company that has lost popularity and a third of its market value this year.', 'CEO Elon Musk and the company say that its Autopilot and Full Self-Driving technologies are ahead of the competition and a big reason why Tesla has become the world’s largest electric vehicle maker — just ahead of Chinese rival BYD.', 'But Huang’s family said Tesla oversold its Autopilot technology’s capabilities, and that it is not as safe to use as advertised.', 'Representatives for Huang’s family and Tesla did not immediately respond to requests for comment.', 'Tesla has come under intense scrutiny for its Autopilot technology over the six years since Huang’s fatal crash.', 'After a two-year investigation that analyzed 1,000 Tesla crashes while vehicles had Autopilot engaged, the National Highway Traffic Safety Administration said the Autopilot system can give drivers a false sense of security.', 'It can be easily misused in certain dangerous situations when Autopilot may be unable to safely navigate the road, NHTSA found in December 2023.', 'NHTSA and the National Transportation Safety Board have also been investigating crashes involving Tesla vehicles using the various driver assist features, including a series ofcrashes into emergency vehicleson the scene of other accidents.', 'Immediately following the December NHTSA report, Tesla recalled all 2 million of its cars in the United States, giving drivers more warnings when Autopilot is engaged and they are not paying attention to the road or placing their hands on the wheel.', 'Yet the company maintains that the technology is safe to use when used correctly and reduces fatalities.', 'Autopilot requires drivers to keep their hands on the wheel and Tesla says people who use the automated-driving technology should keep their eyes on the road.', 'That didn’t happen in the case of Huang’s crash, Tesla has said.', 'In a March 30, 2018, blog post, Tesla said Huang’s hands were not detected on his car’s steering wheel for six seconds prior to the crash.', 'The company said it believes Huang was responsible for the crash because investigators found he was playing a video game on his phone while Autopilot was engaged.', 'Huang did not brake or attempt to steer his car away from the concrete barrier before it crashed.', 'Although Huang’s family acknowledges he was distracted while the car was driving, they argued Tesla is at fault because it falsely marketed Autopilot as self-driving software.', 'They alleged Tesla knew that Autopilot was not ready for prime time and had flaws that could make its use unsafe.', 'Tesla did not respond to a request for comment on the allegations.', '“Mrs. Huang lost her husband, and two children lost their father because Tesla is beta testing its Autopilot software on live drivers,” said B. Mark Fong, the lawyer who brought the suit filed in California state court in a May 2019 complaint.', 'If a jury had found in favor of Huang’s family, Tesla could have been forced to pay damages, and they could have added up quickly.', 'Wrongful death suits involving big companies have at times resulted in awards north of $1 billion.', 'Autopilot’s promise has also helped to boost Tesla’s stock in recent years to make it the most valuable automaker in the world — even as its stock is among the worst-performers in 2024.', 'Musk in October 2023 on a call with analysts said autonomous driving “has the potential to make Tesla the most valuable company in the world by far.”', 'Tesla’s stock (TSLA) rose 5% Monday.']",-0.081596764380633,"After a two-year investigation that analyzed 1,000 Tesla crashes while vehicles had Autopilot engaged, the National Highway Traffic Safety Administration said the Autopilot system can give drivers a false sense of security.","Although Huang’s family acknowledges he was distracted while the car was driving, they argued Tesla is at fault because it falsely marketed Autopilot as self-driving software.",-0.0101414918899536,Tesla’s stock (TSLA) rose 5% Monday.,The settlement marks another crucial moment for an embattled company that has lost popularity and a third of its market value this year.,2024-04-11 -Panama Papers: Money laundering trial of 27 defendants begins,https://www.bbc.co.uk/news/articles/cnek443n8zvo,2024-04-09T03:10:45.612Z,"The trial of 27 people charged in connection with the Panama Papers money laundering scandal has started in a Panamanian criminal court. The leak of secret financial documents in 2016 revealed how some of the world's wealthiest people stashed their assets in offshore companies. The defendants include Jurgen Mossack and Ramon Fonseca Mora who founded the now defunct law firm, Mossack Fonseca. They face money-laundering charges but say neither they, the firm nor its employees were involved in unlawful acts. In 2017, the firm said it was the victim of a computer hack and that the information leaked was being misrepresented. If found guilty, Mr Mossack and Mr Fonseca could face up to twelve years each in prison. The leak, which included a collection of 11 million financial documents, implicated more than a hundred politicians, including then-heads of state and government, billionaires and sports stars. It also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax. The records were first leaked to the German newspaper Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists in 2016. Mr Mossack was present in the courtroom, while lawyers for Mr Fonseca said he was in a hospital in Panama. Mr Fonseca had served as a minister in Panamanian former President Juan Carlos Varela's government but stepped aside in 2016. Mossack Fonseca was shut down in 2018. ",BBC,09/04/2024,"['The trial of 27 people charged in connection with the Panama Papers money laundering scandal has started in a Panamanian criminal court.', ""The leak of secret financial documents in 2016 revealed how some of the world's wealthiest people stashed their assets in offshore companies."", 'The defendants include Jurgen Mossack and Ramon Fonseca Mora who founded the now defunct law firm, Mossack Fonseca.', 'They face money-laundering charges but say neither they, the firm nor its employees were involved in unlawful acts.', 'In 2017, the firm said it was the victim of a computer hack and that the information leaked was being misrepresented.', 'If found guilty, Mr Mossack and Mr Fonseca could face up to twelve years each in prison.', 'The leak, which included a collection of 11 million financial documents, implicated more than a hundred politicians, including then-heads of state and government, billionaires and sports stars.', 'It also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.', 'The records were first leaked to the German newspaper Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists in 2016.', 'Mr Mossack was present in the courtroom, while lawyers for Mr Fonseca said he was in a hospital in Panama.', ""Mr Fonseca had served as a minister in Panamanian former President Juan Carlos Varela's government but stepped aside in 2016."", 'Mossack Fonseca was shut down in 2018.']",-0.1079611745445361,It also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.,The trial of 27 people charged in connection with the Panama Papers money laundering scandal has started in a Panamanian criminal court.,,,,2024-04-11 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-04-11 -How AI is helping to prevent future power cuts,https://www.bbc.co.uk/news/business-68768314,2024-04-10T23:13:58.000Z,"Amid ever increasing demand for electricity, artificial intelligence (AI) is now being used to help prevent power cuts. ""I woke up in the middle of the night very, very cold,"" remembers Aseef Raihan. ""I pulled out my military sleeping bag, and slept in that overnight for warmth. ""In the morning I figured out that the power was definitely not on."" Mr Raihan is describing the scene back in February 2021 when he was stationed in San Antonio, Texas, while serving in the US Air Force. That month the state was blasted by winter storm Uri. As temperatures plummeted to -19C, Texans sought to keep warm, sending the demand for electricity sky high. At the same time, Texas' electricity grid started to unravel. Wind turbines froze over, snow covered solar panels, and a nuclear reactor had to be taken offline as a precaution. With not enough electricity to go around, the power went off for more than 4.5 million homes and businesses, first for hours, and then for days on end. ""Without power, the heating wasn't working at all. And you couldn't use the electric stove or microwave for food,"" recalls Mr Raihan. In the end it took more than two weeks for the Texan power grid to return to normal. The storm revealed the fragility of the systems we take for granted to deliver us electricity around the clock. And while not all countries have winters as severe as they can be in North America, demand for electricity is ever increasing around the world. From charging electric cars, to more homes getting air conditioning installed, we are using more and more power in our daily lives. This comes at the same time as countries are increasingly moving towards renewable sources of energy, which are more variable in the amount of energy they generate. If the wind doesn't blow, and the sun doesn't shine, then electricity production drops. All this led to UK Energy Secretary Claire Coutinho warning last month that the country could face blackouts in the future without new gas powered power stations as ""back up"". Another way to make energy systems more resilient is by adding huge batteries to the grid. The thinking goes that when there is electricity going spare, batteries can charge up, and then release electricity later when there is more demand for power. This is an approach that has been taken in Texas. ""Since the storm we built over five gigawatts of battery storage capacity in Texas in three years, which is really an incredible pace,"" says Dr Michael Webber, professor of energy resources at the University of Texas at Austin. That much energy, he says, is about ""four large nuclear power plants"". However, for such batteries to be really useful, they need to know the best time to charge, and the best time to discharge. That means making complex predictions about how much electricity is going to be needed in the future. ""The main thing that makes the biggest difference is weather and electricity demand,"" says Gavin McCormick, founder of the tech start-up WattTime. His Oakland, California-based company makes AI software that predicts electricity supply and demand in a given area or region. This information can then tell batteries when to charge and discharge. The same information can also be used in homes to help people use mains electricity more cheaply. ""So if you had an electric vehicle that you need to be ready in eight hours, but it only takes two or three hours to charge, what it can do is it can find the five minute periods all night where there's surplus energy, or maybe there's clean energy,"" Mr McCormick says. ""It will charge in little spurts at all the best times and still be ready by morning."" The AI can make these predictions by analysing weather patterns, holiday dates, work schedules, and even when the football is on. ""Everybody gets up and makes a cup of tea at halftime,"" Mr McCormick says. Another company using AI to predict electricity demand is Danish firm Electricity Maps. It focuses its AI on forecasting weather patterns like cloud cover, wind strength, temperature and rainfall. This information is used to better understand how much electricity will be generated from wind turbines or solar panels. ""If you can predict quite accurately in advance how much wind you're going to have in the system, you can plan ahead."" says Olivier Corradi, the company's founder. ""One example is Google, where we're providing them forecasts of how clean the grid is going to be in the next couple of hours. They can use that in their data centres to change the time at which they're consuming electricity "" Read more stories on artificial intelligence AI is also now being used to protect the physical infrastructure that carries electricity to our homes. One company, Buzz Solutions, uses AI to scan through imagery of electricity cables, pylons and substations, identifying signs of damage such as broken parts or rust. The system also identifies when trees and other greenery are growing too close to power lines. Not only can this prevent power outages from damaged lines, but it can also reduce the risk of wildfires, which can be caused from power lines coming into contact with trees as happened in California in recent years. The tech can also spot and automatically report to power firm staff another major cause of power outages - wildlife. ""A lot of times surprisingly, animals get into substations like squirrels and rodents, and they get electrocuted,"" says Buzz Solutions co-founder Vikhyat Chaudhry. ""Their electrocution sometimes leads to a massive explosion at the substation. Our AI that's deployed at substations, one of the things that they're detecting is animal intrusions including raccoons and squirrels."" ",BBC,10/04/2024,"['Amid ever increasing demand for electricity, artificial intelligence (AI) is now being used to help prevent power cuts. ""', 'I woke up in the middle of the night very, very cold,"" remembers Aseef Raihan. ""', 'I pulled out my military sleeping bag, and slept in that overnight for warmth. ""', 'In the morning I figured out that the power was definitely not on.""', 'Mr Raihan is describing the scene back in February 2021 when he was stationed in San Antonio, Texas, while serving in the US Air Force.', 'That month the state was blasted by winter storm Uri.', 'As temperatures plummeted to -19C, Texans sought to keep warm, sending the demand for electricity sky high.', ""At the same time, Texas' electricity grid started to unravel."", 'Wind turbines froze over, snow covered solar panels, and a nuclear reactor had to be taken offline as a precaution.', 'With not enough electricity to go around, the power went off for more than 4.5 million homes and businesses, first for hours, and then for days on end. ""', ""Without power, the heating wasn't working at all."", 'And you couldn\'t use the electric stove or microwave for food,"" recalls Mr Raihan.', 'In the end it took more than two weeks for the Texan power grid to return to normal.', 'The storm revealed the fragility of the systems we take for granted to deliver us electricity around the clock.', 'And while not all countries have winters as severe as they can be in North America, demand for electricity is ever increasing around the world.', 'From charging electric cars, to more homes getting air conditioning installed, we are using more and more power in our daily lives.', 'This comes at the same time as countries are increasingly moving towards renewable sources of energy, which are more variable in the amount of energy they generate.', ""If the wind doesn't blow, and the sun doesn't shine, then electricity production drops."", 'All this led to UK Energy Secretary Claire Coutinho warning last month that the country could face blackouts in the future without new gas powered power stations as ""back up"".', 'Another way to make energy systems more resilient is by adding huge batteries to the grid.', 'The thinking goes that when there is electricity going spare, batteries can charge up, and then release electricity later when there is more demand for power.', 'This is an approach that has been taken in Texas. ""', 'Since the storm we built over five gigawatts of battery storage capacity in Texas in three years, which is really an incredible pace,"" says Dr Michael Webber, professor of energy resources at the University of Texas at Austin.', 'That much energy, he says, is about ""four large nuclear power plants"".', 'However, for such batteries to be really useful, they need to know the best time to charge, and the best time to discharge.', 'That means making complex predictions about how much electricity is going to be needed in the future. ""', 'The main thing that makes the biggest difference is weather and electricity demand,"" says Gavin McCormick, founder of the tech start-up WattTime.', 'His Oakland, California-based company makes AI software that predicts electricity supply and demand in a given area or region.', 'This information can then tell batteries when to charge and discharge.', 'The same information can also be used in homes to help people use mains electricity more cheaply. ""', 'So if you had an electric vehicle that you need to be ready in eight hours, but it only takes two or three hours to charge, what it can do is it can find the five minute periods all night where there\'s surplus energy, or maybe there\'s clean energy,"" Mr McCormick says. ""', 'It will charge in little spurts at all the best times and still be ready by morning.""', 'The AI can make these predictions by analysing weather patterns, holiday dates, work schedules, and even when the football is on. ""', 'Everybody gets up and makes a cup of tea at halftime,"" Mr McCormick says.', 'Another company using AI to predict electricity demand is Danish firm Electricity Maps.', 'It focuses its AI on forecasting weather patterns like cloud cover, wind strength, temperature and rainfall.', 'This information is used to better understand how much electricity will be generated from wind turbines or solar panels. ""', 'If you can predict quite accurately in advance how much wind you\'re going to have in the system, you can plan ahead.""', 'says Olivier Corradi, the company\'s founder. ""', ""One example is Google, where we're providing them forecasts of how clean the grid is going to be in the next couple of hours."", 'They can use that in their data centres to change the time at which they\'re consuming electricity "" Read more stories on artificial intelligence AI is also now being used to protect the physical infrastructure that carries electricity to our homes.', 'One company, Buzz Solutions, uses AI to scan through imagery of electricity cables, pylons and substations, identifying signs of damage such as broken parts or rust.', 'The system also identifies when trees and other greenery are growing too close to power lines.', 'Not only can this prevent power outages from damaged lines, but it can also reduce the risk of wildfires, which can be caused from power lines coming into contact with trees as happened in California in recent years.', 'The tech can also spot and automatically report to power firm staff another major cause of power outages - wildlife. ""', 'A lot of times surprisingly, animals get into substations like squirrels and rodents, and they get electrocuted,"" says Buzz Solutions co-founder Vikhyat Chaudhry. ""', 'Their electrocution sometimes leads to a massive explosion at the substation.', 'Our AI that\'s deployed at substations, one of the things that they\'re detecting is animal intrusions including raccoons and squirrels.""']",0.1497572378689781,"However, for such batteries to be really useful, they need to know the best time to charge, and the best time to discharge.","One company, Buzz Solutions, uses AI to scan through imagery of electricity cables, pylons and substations, identifying signs of damage such as broken parts or rust.",0.1250539049506187,"Since the storm we built over five gigawatts of battery storage capacity in Texas in three years, which is really an incredible pace,"" says Dr Michael Webber, professor of energy resources at the University of Texas at Austin.","If the wind doesn't blow, and the sun doesn't shine, then electricity production drops.",2024-04-11 -"Hispanic and Latino professionals feel overlooked and underrepresented in corporate America, new study finds",https://edition.cnn.com/2024/04/10/success/hispanic-latino-professionals-feel-overlooked-stereotyped/index.html," - Published - 5:33 PM EDT, Wed April 10, 2024 - ","Feeling seen and accepted, and having your skills and talents appreciated, are both key ingredients for job satisfaction and employee retention. - - That’s one reason why it’s notable that a new study finds a full 40% of Hispanic and Latino/a professionals in corporate America say they feel it is necessary to change aspects of themselves to succeed at work. - - The study, “More than a Monolith: The Advancement of Hispanic and Latino/a Talent,” comes from the nonprofit think tank Coqual, which seeks to address bias and uncover barriers to advancement for underrepresented populations in the workplace. - - “Our findings illuminate hurdles Hispanic and Latino professionals face, including the undue pressure to mask their authentic selves and heritage in pursuit of success,” said Coqual CEO Lanaya Irvin. - - The report’s findings were based in part on a survey of 2,385 full-time, US-based employees who had at least some postsecondary education or degree. They were also based on virtual focus groups and interviews with 100 Hispanic and Latino/a professionals and experts. - - (Generally speaking, “Hispanic” refers to someone with Spanish-speaking ancestry, while “Latino/a” refers to anyone with geographic roots in Latin America, regardless of language.) - - The study notes that while Hispanics and Latinos make up 19% of the US population they only represent about 8% of the professional labor force. And within corporate America, only 10% of managers and 5% of executives identify as Hispanic or Latino/a. - - That lack of representation may be evident throughout a person’s career. “I’ve been at three different organizations since college and haven’t really been exposed to senior Hispanic or Latino/a professionals in executive roles, or even managing director roles, unfortunately,” said one Latino professional in finance. - - When Hispanic professionals get their foot in the door, or even get promoted, many still find they are stereotyped, overlooked or underappreciated. - - In recounting one experience, a Latina executive told researchers, “I was wearing khaki pants and a blue shirt. Someone approached me and asked, ‘Excuse me, are you with the cleaning crew?’ No, I’m not. I happen to be a director.” - - Among Hispanic professionals who said they had a sponsor or champion at work, more than two-thirds said their advocate “encouraged them to assimilate to office norms.” - - Authors of the report note that such professionals often deal with indications that their communication style –- from accents and expressions, to tone and language — is “unfit or even unprofessional.” - - For instance, they wrote, “expressing enthusiasm and passion is often evaluated by peers, clients and managers as ‘aggressive,’ and everyday communication is read as too emotional, causing them to limit their contributions.” - - And speaking Spanish is often an underappreciated skill, the report suggested, noting “while some Spanish speakers said they are discouraged from communicating in Spanish at work, many are tapped for their language skills when it is convenient for their employer. Professionals told us they take on requests to translate internal and client-facing deliverables – sometimes requested late at night, last-minute and outside the scope of their job.” - - The study found Hispanic and Latino/a professionals are 41% more likely than White professionals to plan to leave their companies within a year. More than a third (35%) said they were actively looking for a job. - - And its findings suggest many of the youngest Hispanic and Latino/a professionals could be hardest for employers to retain if their pathways to success aren’t opened wider. - - The Coqual study notes that within the next decade, Hispanics and Latinos will make up nearly eight out of 10 new workers. And it found that 57% of entry-level hires are dissatisfied with promotion rates at their employer, while 40% of mid-level managers said they don’t see opportunities for future growth. - - “[Younger generations] are less likely to stick around and wait for it to happen,” said one Millennial Black Dominican study participant. Their thinking is, ‘If it doesn’t happen, then I can go somewhere else,’ the person explained, adding “That’s not something that people did. You just stayed at jobs because you were grateful you had access. I think those generational differences are really significant because we’re often grouped as one collective.” - - Those in the older cohort may have done all they could to conceal their ethnicity to help ensure they rose through the ranks, according to one Latino CEO and corporate board member. - - “[S]ome of us saw the option to be invisible as a smart strategy. We were playing the system, hiding our Latinidad,” the CEO said. And once they climbed the ladder, he explained, the thinking was, “Now I made it; I’m an executive. Should I come out as Latino? I haven’t yet, so will that affect me?” - - All leaders, he suggested, “need to think about this as we strategize to fulfill this mandate for diversity and inclusion at the executive and board level. …[W]e all need to help the next generation have a different experience.” - - As for how employers overall can improve the work experience and sense of belonging for Hispanic and Latino/a professionals? - - Coqual suggests, among other things, that they redefine professionalism, reward linguistic diversity, and welcome conversations about race and ethnicity. - - In addition, the think tank encourages companies to focus more on increasing diversity, strengthening sponsorships of Hispanic professionals and endorsing and funding affinity groups.",CNN,10/04/2024,"['Feeling seen and accepted, and having your skills and talents appreciated, are both key ingredients for job satisfaction and employee retention.', 'That’s one reason why it’s notable that a new study finds a full 40% of Hispanic and Latino/a professionals in corporate America say they feel it is necessary to change aspects of themselves to succeed at work.', 'The study, “More than a Monolith: The Advancement of Hispanic and Latino/a Talent,” comes from the nonprofit think tank Coqual, which seeks to address bias and uncover barriers to advancement for underrepresented populations in the workplace.', '“Our findings illuminate hurdles Hispanic and Latino professionals face, including the undue pressure to mask their authentic selves and heritage in pursuit of success,” said Coqual CEO Lanaya Irvin.', 'The report’s findings were based in part on a survey of 2,385 full-time, US-based employees who had at least some postsecondary education or degree.', 'They were also based on virtual focus groups and interviews with 100 Hispanic and Latino/a professionals and experts.', '(Generally speaking, “Hispanic” refers to someone with Spanish-speaking ancestry, while “Latino/a” refers to anyone with geographic roots in Latin America, regardless of language.)', 'The study notes that while Hispanics and Latinos make up 19% of the US population they only represent about 8% of the professional labor force.', 'And within corporate America, only 10% of managers and 5% of executives identify as Hispanic or Latino/a. That lack of representation may be evident throughout a person’s career. “', 'I’ve been at three different organizations since college and haven’t really been exposed to senior Hispanic or Latino/a professionals in executive roles, or even managing director roles, unfortunately,” said one Latino professional in finance.', 'When Hispanic professionals get their foot in the door, or even get promoted, many still find they are stereotyped, overlooked or underappreciated.', 'In recounting one experience, a Latina executive told researchers, “I was wearing khaki pants and a blue shirt.', 'Someone approached me and asked, ‘Excuse me, are you with the cleaning crew?’', 'No, I’m not.', 'I happen to be a director.”', 'Among Hispanic professionals who said they had a sponsor or champion at work, more than two-thirds said their advocate “encouraged them to assimilate to office norms.”', 'Authors of the report note that such professionals often deal with indications that their communication style –- from accents and expressions, to tone and language — is “unfit or even unprofessional.”', 'For instance, they wrote, “expressing enthusiasm and passion is often evaluated by peers, clients and managers as ‘aggressive,’ and everyday communication is read as too emotional, causing them to limit their contributions.”', 'And speaking Spanish is often an underappreciated skill, the report suggested, noting “while some Spanish speakers said they are discouraged from communicating in Spanish at work, many are tapped for their language skills when it is convenient for their employer.', 'Professionals told us they take on requests to translate internal and client-facing deliverables – sometimes requested late at night, last-minute and outside the scope of their job.”', 'The study found Hispanic and Latino/a professionals are 41% more likely than White professionals to plan to leave their companies within a year.', 'More than a third (35%) said they were actively looking for a job.', 'And its findings suggest many of the youngest Hispanic and Latino/a professionals could be hardest for employers to retain if their pathways to success aren’t opened wider.', 'The Coqual study notes that within the next decade, Hispanics and Latinos will make up nearly eight out of 10 new workers.', 'And it found that 57% of entry-level hires are dissatisfied with promotion rates at their employer, while 40% of mid-level managers said they don’t see opportunities for future growth.', '“[Younger generations] are less likely to stick around and wait for it to happen,” said one Millennial Black Dominican study participant.', 'Their thinking is, ‘If it doesn’t happen, then I can go somewhere else,’ the person explained, adding “That’s not something that people did.', 'You just stayed at jobs because you were grateful you had access.', 'I think those generational differences are really significant because we’re often grouped as one collective.”', 'Those in the older cohort may have done all they could to conceal their ethnicity to help ensure they rose through the ranks, according to one Latino CEO and corporate board member.', '“[S]ome of us saw the option to be invisible as a smart strategy.', 'We were playing the system, hiding our Latinidad,” the CEO said.', 'And once they climbed the ladder, he explained, the thinking was, “Now I made it; I’m an executive.', 'Should I come out as Latino?', 'I haven’t yet, so will that affect me?”', 'All leaders, he suggested, “need to think about this as we strategize to fulfill this mandate for diversity and inclusion at the executive and board level. …[', 'W]e all need to help the next generation have a different experience.”', 'As for how employers overall can improve the work experience and sense of belonging for Hispanic and Latino/a professionals?', 'Coqual suggests, among other things, that they redefine professionalism, reward linguistic diversity, and welcome conversations about race and ethnicity.', 'In addition, the think tank encourages companies to focus more on increasing diversity, strengthening sponsorships of Hispanic professionals and endorsing and funding affinity groups.']",0.186363637154844,"Feeling seen and accepted, and having your skills and talents appreciated, are both key ingredients for job satisfaction and employee retention.","Authors of the report note that such professionals often deal with indications that their communication style –- from accents and expressions, to tone and language — is “unfit or even unprofessional.”",-0.0888351614658649,"In addition, the think tank encourages companies to focus more on increasing diversity, strengthening sponsorships of Hispanic professionals and endorsing and funding affinity groups.","And it found that 57% of entry-level hires are dissatisfied with promotion rates at their employer, while 40% of mid-level managers said they don’t see opportunities for future growth.",2024-04-11 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-04-11 -‘We have reached the limit.’ Clash with Elon Musk prompts calls for social media controls in Brazil,https://edition.cnn.com/2024/04/08/tech/elon-musk-brazil-investigation/index.html," - Published - 7:08 AM EDT, Mon April 8, 2024 - ","Brazil’s attorney general has called for social media platforms in the country to be regulated after Elon Musk threatened to disobey a court order banning certain accounts on X and lashed out against “aggressive censorship.” - - In a post on X Sunday, Attorney General Jorge Messias wrote: “It is urgent to regulate social networks. We cannot live in a society in which billionaires domiciled abroad have control of social networks and put themselves in a position to violate the rule of law, failing to comply with court orders and threatening our authorities.” - - In a statement, Brazil’s Supreme Court described Musk’s defiance as a “flagrant” obstruction of justice and said he should be investigated by the police. Supreme Court Justice Alexandre de Moraes announced Sunday that he would open an inquiry into the billionaire businessman who owns X. - - The standoff is the latest clash between authorities around the world and Musk — a self-declared “free speech absolutist” who has relaxed X’s content moderation policies and reinstated a number of previously blocked accounts after buying the company, formerly known as Twitter, in 2022. - - Orlando Silva, a Brazilian lawmaker aligned with the country’s left-wing government, said he would propose a “responsibilities regime for these digital platforms.” “We have reached the limit!” he posted on X, adding that Musk had disrespected the judiciary. - - On Saturday, X’s global government affairs team posted that it had been “forced by court decisions to block certain popular accounts in Brazil” and threatened with “daily fines” for non-compliance. - - “We do not know which posts are alleged to violate the law. We are prohibited from saying which court or judge issued the order, or on what grounds,” they wrote. They do not believe the orders are constitutional and will challenge them legally where possible, they added. - - The Supreme Court had ordered that the accounts be blocked as part of its ongoing investigation into “digital militias,” which, among other things, is looking into the spread of misinformation and incitement of crime under the government of former far-right President Jair Bolsonaro. - - Social media platforms have been widely viewed as a catalyst for riots in Brazil that took place on January 8 last year, when hundreds of protesters broke into federal government buildings in the capital Brasilia, in scenes reminiscent of the January 6, 2021, insurrection in the United States. - - Musk suggested that Moraes was behind the ban, writing Sunday on X that the judge had “brazenly and repeatedly betrayed the constitution and people of Brazil. He should resign or be impeached.” - - In a separate post Saturday, he called the court’s decision to block the accounts “aggressive censorship” that “appears to violate the law and will of the people of Brazil.” He said X would defy the court’s order and lift all restrictions. - - “As a result, we will probably lose all revenue in Brazil and have to shut down our office there. But principles matter more than profit,” he noted. - - X has faced criticism for accommodating government censorship demands in the past, with Musk saying the company has no choice but to comply. For example, it blocked some X accounts in Turkey at the behest of the government ahead of the country’s elections last year, while at the same time contesting the orders in court.",CNN,08/04/2024,"['Brazil’s attorney general has called for social media platforms in the country to be regulated after Elon Musk threatened to disobey a court order banning certain accounts on X and lashed out against “aggressive censorship.”', 'In a post on X Sunday, Attorney General Jorge Messias wrote: “It is urgent to regulate social networks.', 'We cannot live in a society in which billionaires domiciled abroad have control of social networks and put themselves in a position to violate the rule of law, failing to comply with court orders and threatening our authorities.”', 'In a statement, Brazil’s Supreme Court described Musk’s defiance as a “flagrant” obstruction of justice and said he should be investigated by the police.', 'Supreme Court Justice Alexandre de Moraes announced Sunday that he would open an inquiry into the billionaire businessman who owns X. The standoff is the latest clash between authorities around the world and Musk — a self-declared “free speech absolutist” who has relaxed X’s content moderation policies and reinstated a number of previously blocked accounts after buying the company, formerly known as Twitter, in 2022.', 'Orlando Silva, a Brazilian lawmaker aligned with the country’s left-wing government, said he would propose a “responsibilities regime for these digital platforms.” “', 'We have reached the limit!”', 'he posted on X, adding that Musk had disrespected the judiciary.', 'On Saturday, X’s global government affairs team posted that it had been “forced by court decisions to block certain popular accounts in Brazil” and threatened with “daily fines” for non-compliance.', '“We do not know which posts are alleged to violate the law.', 'We are prohibited from saying which court or judge issued the order, or on what grounds,” they wrote.', 'They do not believe the orders are constitutional and will challenge them legally where possible, they added.', 'The Supreme Court had ordered that the accounts be blocked as part of its ongoing investigation into “digital militias,” which, among other things, is looking into the spread of misinformation and incitement of crime under the government of former far-right President Jair Bolsonaro.', 'Social media platforms have been widely viewed as a catalyst for riots in Brazil that took place on January 8 last year, when hundreds of protesters broke into federal government buildings in the capital Brasilia, in scenes reminiscent of the January 6, 2021, insurrection in the United States.', 'Musk suggested that Moraes was behind the ban, writing Sunday on X that the judge had “brazenly and repeatedly betrayed the constitution and people of Brazil.', 'He should resign or be impeached.”', 'In a separate post Saturday, he called the court’s decision to block the accounts “aggressive censorship” that “appears to violate the law and will of the people of Brazil.”', 'He said X would defy the court’s order and lift all restrictions.', '“As a result, we will probably lose all revenue in Brazil and have to shut down our office there.', 'But principles matter more than profit,” he noted.', 'X has faced criticism for accommodating government censorship demands in the past, with Musk saying the company has no choice but to comply.', 'For example, it blocked some X accounts in Turkey at the behest of the government ahead of the country’s elections last year, while at the same time contesting the orders in court.']",-0.1820403585062187,"Supreme Court Justice Alexandre de Moraes announced Sunday that he would open an inquiry into the billionaire businessman who owns X. The standoff is the latest clash between authorities around the world and Musk — a self-declared “free speech absolutist” who has relaxed X’s content moderation policies and reinstated a number of previously blocked accounts after buying the company, formerly known as Twitter, in 2022.","We cannot live in a society in which billionaires domiciled abroad have control of social networks and put themselves in a position to violate the rule of law, failing to comply with court orders and threatening our authorities.”",-0.8426020244757334,,"“As a result, we will probably lose all revenue in Brazil and have to shut down our office there.",2024-04-11 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-04-11 -Nigeria Binance dispute: Cryptocurrency official denies money laundering,https://www.bbc.co.uk/news/world-africa-68762553,2024-04-08T17:07:59.000Z,"An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court. US citizen Tigran Gambaryan was arrested in February, along with his colleague Nadeem Anjarwalla, a British-Kenyan dual national. Their detention came as Nigeria accused Binance of being behind the country's economic turmoil. Two weeks ago Mr Anjarwalla escaped from custody and his whereabouts are unknown. On Monday, Mr Gambaryan rejected five counts of money laundering filed against him by Nigeria's Economic and Financial Crimes Commission (EFCC). After the hearing, he was transferred to Kuje Correctional Centre, a prison in the capital, Abuja. The facility has in the past held inmates ranging from jihadists to politicians. Mr Gambaryan and Mr Anjarwalla had previously been detained in an unknown location. In a statement released after Monday's hearing, Mr Gambaryan's wife, Yuki, said: ""I am beyond heartbroken that my innocent husband is being sent to a prison that houses known terrorists and murderers... it is beyond unacceptable that this is how they are treating a completely innocent man."" A Binance spokesperson said the charges against Mr Gambaryan were ""meritless"". They told the BBC: ""We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained."" The EFCC had accused Binance - understood to be one of the most popular cryptocurrency platforms in Nigeria - along with Mr Gambaryan and Mr Anjarwalla, of laundering $35.4m (£28m). In February, Mr Gambarayan, who is in charge of financial crime compliance at Binance, and Mr Anjarwalla, who is Binance's Africa Regional Manager, were detained after arriving in Nigeria for meetings to discuss the platform's operations in the country. Binance was later that week ordered to pay a fine of $10bn (£8bn). The government accused it of currency speculation and fixing exchange rates, leading to the free-fall of the local currency, the naira. The weakening of the naira, alongside food inflation and the soaring cost of living, has sparked an economic crisis in Nigeria. Binance is not alone - Nigeria's authorities have been clamping down on cryptocurrency platforms in general over allegations they are being used for money laundering and financing terrorism. As well as money laundering charges, Binance and the two executives also face four counts of tax evasion, filed by the Federal Inland Revenue Service (FIRS). After Mr Anjarwalla fled the country, Nigerian authorities said he had escaped with a ""smuggled passport"", but a family source said he had left by ""by lawful means"". Nigeria said it was ""working with Interpol for an international arrest warrant on the suspect"". As of Monday, Mr Anjarwalla was not on Interpol's red notice list for ""internationally wanted fugitives"". ",BBC,08/04/2024,"['An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court.', 'US citizen Tigran Gambaryan was arrested in February, along with his colleague Nadeem Anjarwalla, a British-Kenyan dual national.', ""Their detention came as Nigeria accused Binance of being behind the country's economic turmoil."", 'Two weeks ago Mr Anjarwalla escaped from custody and his whereabouts are unknown.', ""On Monday, Mr Gambaryan rejected five counts of money laundering filed against him by Nigeria's Economic and Financial Crimes Commission (EFCC)."", 'After the hearing, he was transferred to Kuje Correctional Centre, a prison in the capital, Abuja.', 'The facility has in the past held inmates ranging from jihadists to politicians.', 'Mr Gambaryan and Mr Anjarwalla had previously been detained in an unknown location.', 'In a statement released after Monday\'s hearing, Mr Gambaryan\'s wife, Yuki, said: ""I am beyond heartbroken that my innocent husband is being sent to a prison that houses known terrorists and murderers... it is beyond unacceptable that this is how they are treating a completely innocent man.""', 'A Binance spokesperson said the charges against Mr Gambaryan were ""meritless"".', 'They told the BBC: ""We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained.""', 'The EFCC had accused Binance - understood to be one of the most popular cryptocurrency platforms in Nigeria - along with Mr Gambaryan and Mr Anjarwalla, of laundering $35.4m (£28m).', ""In February, Mr Gambarayan, who is in charge of financial crime compliance at Binance, and Mr Anjarwalla, who is Binance's Africa Regional Manager, were detained after arriving in Nigeria for meetings to discuss the platform's operations in the country."", 'Binance was later that week ordered to pay a fine of $10bn (£8bn).', 'The government accused it of currency speculation and fixing exchange rates, leading to the free-fall of the local currency, the naira.', 'The weakening of the naira, alongside food inflation and the soaring cost of living, has sparked an economic crisis in Nigeria.', ""Binance is not alone - Nigeria's authorities have been clamping down on cryptocurrency platforms in general over allegations they are being used for money laundering and financing terrorism."", 'As well as money laundering charges, Binance and the two executives also face four counts of tax evasion, filed by the Federal Inland Revenue Service (FIRS).', 'After Mr Anjarwalla fled the country, Nigerian authorities said he had escaped with a ""smuggled passport"", but a family source said he had left by ""by lawful means"".', 'Nigeria said it was ""working with Interpol for an international arrest warrant on the suspect"".', 'As of Monday, Mr Anjarwalla was not on Interpol\'s red notice list for ""internationally wanted fugitives"".']",-0.3249722933220262,"The government accused it of currency speculation and fixing exchange rates, leading to the free-fall of the local currency, the naira.","In a statement released after Monday's hearing, Mr Gambaryan's wife, Yuki, said: ""I am beyond heartbroken that my innocent husband is being sent to a prison that houses known terrorists and murderers... it is beyond unacceptable that this is how they are treating a completely innocent man.""",-0.7206885317961375,An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court.,"The weakening of the naira, alongside food inflation and the soaring cost of living, has sparked an economic crisis in Nigeria.",2024-04-11 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-04-11 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-04-11 -Vietnam tycoon sentenced to death in $12 billion fraud case,https://edition.cnn.com/2024/04/11/business/truong-my-lan-vietnam-fraud-death-sentence/index.html," - Updated - 9:21 AM EDT, Thu April 11, 2024 - ","A court in Vietnam sentenced real estate tycoon Truong My Lan Thursday to death over her role in a 304 trillion dong ($12.46 billion) financial fraud case, the country’s biggest on record, state media reported. - - Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out. - - Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said. - - “We will keep fighting to see what we can do,” a family member told Reuters, speaking on condition of anonymity. Before the verdict he had said Lan would appeal against the sentence. - - Lan had pleaded not-guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan’s lawyers told Reuters. - - “Of course she will appeal the verdict,” he added noting she was sentenced to death for the embezzlement charge and to 20 years each for the other two charges of bribery and violations of banking regulations. - - Vietnam imposes the death penalty mostly over violent offenses but also for economic crimes. Human rights groups say it has executed hundreds of convicts in recent years, mainly by lethal injection. - - The Thanh Nien newspaper said 84 defendants in the case received sentences ranging from probation for three years to life imprisonment. Among them are Lan’s husband, Eric Chu, a businessman from Hong Kong, who was sentenced to nine years in jail, and her niece who got 17 years. - - Lan started as a cosmetics trader at the central market in Ho Chi Minh City, helping out her mother, she told judges during the trial, according to state media. - - She later founded her real estate company Van Thinh Phat in 1992, the same year when she got married, according to state media. - - She was found guilty, with her accomplices of siphoning off more than 304 trillion dong from Saigon Joint Stock Commercial Bank (SCB), which she effectively controlled through dozens of proxies despite rules strictly limiting large shareholding in lenders, according to investigators. - - From early 2018 through October 2022, when the state bailed out SCB after a run on its deposits triggered by Lan’s arrest, she appropriated large sums by arranging unlawful loans to shell companies, investigators said. - - “The defendant’s actions not only violate the property management rights of individuals and organizations but also put SCB under scrutiny, eroding people’s trust in the leadership of the Party and State,” state newspaper VnExpress cited the jury as saying. - - The bank is currently propped up by the central bank and faces a complex restructuring under which authorities are trying to establish the legal status of hundreds of assets which were used as collateral for loans and bonds issued by VTP. The bonds alone are worth $1.2 billion. - - Some of the assets are high-end properties but many others are unfinished projects. - - Before her fall from grace, she had played a key role in Vietnam’s financial world, getting involved in the previous rescue of troubled SCB more than a decade before she contributed to the bank’s new crisis. - - She was found guilty of having bribed officials to persuade the authorities to look away, including paying $5.2 million to a senior central bank inspector, Do Thi Nhan, who was sentenced to life in prison. - - Vietnam’s graft crackdown, dubbed “Blazing Furnace”, has seen hundreds of senior state officials and high-profile business executives prosecuted or forced to step down. - - Corruption is so widespread that in some provinces many people say they pay bribes just to obtain medical services in public hospitals, according to a recent survey by the U.N. Development Program and other organizations.",CNN,11/04/2024,"['A court in Vietnam sentenced real estate tycoon Truong My Lan Thursdayto death over her role in a 304 trillion dong ($12.46 billion) financial fraud case, the country’s biggest on record, state media reported.', 'Her trial, begun on March 5 and ending earlier than planned, was one dramatic result of a campaign against corruption that the leader of the ruling Communist Party, Nguyen Phu Trong, has pledged for years to stamp out.', 'Lan, the chairwoman of real estate developer Van Thinh Phat Holdings Group, was found guilty of embezzlement, bribery and violations of banking rules at the end of a trial in the business hub of Ho Chi Minh City, state media said.', '“We will keep fighting to see what we can do,” a family member told Reuters,speaking on condition of anonymity.', 'Before the verdict he had said Lan would appeal against the sentence.', 'Lan had pleaded not-guilty to the embezzlement and bribery charges, Nguyen Huy Thiep, one of Lan’s lawyers told Reuters.', '“Of course she will appeal the verdict,” he added noting she was sentenced to death for the embezzlement charge and to 20 years each for the other two charges of bribery and violations of banking regulations.', 'Vietnam imposes the death penalty mostly over violent offenses but also for economic crimes.', 'Human rights groups say it has executed hundreds of convicts in recent years, mainly by lethal injection.', 'The Thanh Nien newspaper said 84 defendants in the case received sentences ranging from probation for three years to life imprisonment.', 'Among them are Lan’s husband, Eric Chu, a businessman from Hong Kong, who was sentenced to nine years in jail, and her niece who got 17 years.', 'Lan started as a cosmetics trader at the central market in Ho Chi Minh City, helping out her mother, she told judges during the trial, according to state media.', 'She later founded her real estate company Van Thinh Phat in 1992, the same year when she got married, according to state media.', 'She was found guilty, withher accomplices of siphoning off more than 304 trillion dong from Saigon Joint Stock Commercial Bank (SCB), which she effectively controlled through dozens of proxiesdespite rules strictly limiting large shareholding in lenders, according to investigators.', 'From early 2018 through October 2022, when the state bailed out SCB after a run on its depositstriggered by Lan’s arrest, sheappropriated large sums by arranging unlawful loans to shell companies, investigators said.', '“The defendant’s actions not only violate the property management rights of individuals and organizations but also put SCB under scrutiny, eroding people’s trust in the leadership of the Party and State,” state newspaper VnExpress cited the jury as saying.', 'The bank is currently propped up by the central bank and faces a complex restructuring under which authorities are trying to establish the legal status of hundreds of assets which were used as collateral for loans and bonds issued by VTP.', 'The bonds alone are worth $1.2 billion.', 'Some ofthe assetsare high-end properties but many others are unfinished projects.', 'Before her fall from grace, she had played a key role in Vietnam’s financial world, getting involved in the previous rescue of troubled SCB more than a decade before she contributed to the bank’s new crisis.', 'She was found guilty of having bribed officials to persuade the authorities to look away, including paying $5.2 million to a senior central bank inspector, Do Thi Nhan, who was sentenced to life in prison.', 'Vietnam’s graft crackdown, dubbed “Blazing Furnace”, has seen hundreds of senior state officials and high-profile business executives prosecuted or forced to step down.', 'Corruption is so widespread that in some provinces many people say they pay bribes just to obtain medical services in public hospitals, according to a recent survey by the U.N. Development Program and other organizations.']",-0.1359186521209991,"“The defendant’s actions not only violate the property management rights of individuals and organizations but also put SCB under scrutiny, eroding people’s trust in the leadership of the Party and State,” state newspaper VnExpress cited the jury as saying.","“Of course she will appeal the verdict,” he added noting she was sentenced to death for the embezzlement charge and to 20 years each for the other two charges of bribery and violations of banking regulations.",-0.9949976205825806,,"“The defendant’s actions not only violate the property management rights of individuals and organizations but also put SCB under scrutiny, eroding people’s trust in the leadership of the Party and State,” state newspaper VnExpress cited the jury as saying.",2024-04-11 -Trump’s net worth has tumbled by $2 billion since Truth Social stock peaked last month,https://edition.cnn.com/2024/04/08/investing/trump-stock-net-worth-truth-social/index.html," - Updated - 9:49 PM EDT, Mon April 8, 2024 - ","Shares of Trump Media & Technology Group continue to rapidly fall back to Earth. - - The Truth Social owner dropped by another 8% on Monday, adding to a brutal week that wiped out a third of the stock’s value. - - The selloff has shrunk former President Donald Trump’s stake in the controversial company to about $2.9 billion. That’s down sharply from a peak of $5.2 billion based on the closing high of $66.22 on March 27, the day after it went public. - - Trump owns a dominant stake of 78.8 million shares in Trump Media, which launched in 2021. Its plan to go public by merging with a shell company was delayed for years by regulatory and legal scrutiny. - - When Trump Media finally went public late last month, experts immediately warned that Wall Street was drastically overvaluing the company based on traditional fundamental metrics like revenue and users. - - Last week, Trump Media disclosed losing $58 million last year on very light revenue of just $4.1 million. By comparison, Twitter (now known as X) generated more than 100 times as much revenue – $665 million — in 2013 ahead of its initial public offering in November of that year. - - After its first day of trading, Trump Media was valued at as much as $11 billion. That’s almost twice the valuation that Reddit achieved after its IPO in March – even though Reddit generated roughly 200 times as much revenue. - - Despite the recent losses, shares of Trump Media and the blank check company it merged with have more than doubled this year.",CNN,08/04/2024,"['Shares of Trump Media & Technology Group continue to rapidly fall back to Earth.', 'The Truth Social owner dropped by another 8% on Monday, adding to a brutal week that wiped out a third of the stock’s value.', 'The selloff has shrunk former President Donald Trump’s stake in the controversial company to about $2.9 billion.', 'That’s down sharply from a peak of $5.2 billion based on the closing high of $66.22 on March 27, the day after it went public.', 'Trump owns a dominant stake of 78.8 million shares in Trump Media, which launched in 2021.', 'Its plan to go public by merging with a shell company was delayed for years by regulatory and legal scrutiny.', 'When Trump Media finally went public late last month,experts immediately warnedthat Wall Street was drastically overvaluing the company based on traditional fundamental metrics like revenue and users.', 'Last week,Trump Media disclosed losing $58 millionlast year on very light revenue of just $4.1 million.', 'By comparison, Twitter (now known as X) generated more than100 times as much revenue– $665 million — in 2013 ahead of its initial public offering in November of that year.', 'After its first day of trading, Trump Media was valued at as much as $11 billion.', 'That’s almost twice the valuation thatReddit achieved after its IPOin March – even though Reddit generated roughly 200 times as much revenue.', 'Despite the recent losses, shares of Trump Media and the blank check company it merged with have more than doubled this year.']",0.1038121725520578,"Despite the recent losses, shares of Trump Media and the blank check company it merged with have more than doubled this year.","Last week,Trump Media disclosed losing $58 millionlast year on very light revenue of just $4.1 million.",-0.3934831023216247,"Despite the recent losses, shares of Trump Media and the blank check company it merged with have more than doubled this year.","That’s down sharply from a peak of $5.2 billion based on the closing high of $66.22 on March 27, the day after it went public.",2024-04-11 -Europe launches subsidies probe into Chinese wind turbine suppliers,https://edition.cnn.com/2024/04/09/business/europe-wind-turbine-probe-china/index.html," - Updated - 5:17 AM EDT, Thu April 11, 2024 - ","The European Union has launched an investigation into China’s state support for its wind turbine companies, intensifying a push to protect Europe’s industry from a flood of cheap Chinese imports. - - Margrethe Vestager, the EU’s competition chief, said Tuesday that the probe would look into the development of wind farms in Spain, Greece, France, Romania and Bulgaria. - - The move provides further evidence of tensions between China, the world’s biggest manufacturer, and its major trading partners resulting from the oversupply of Chinese goods in key industries around the world. The country’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion. - - On Thursday, a Chinese commerce ministry official responded that Beijing “firmly opposes” the investigation. The probe not only “seriously damages” the confidence of Chinese enterprises operating in Europe, but also interferes with mutually beneficial industrial cooperation between the two sides, the official said in a statement. - - “It will also affect global efforts to address climate change and the process of green transformation.” - - Vestager’s announcement as part of a speech in Princeton, New Jersey, came just days after the European Commission, the EU’s executive arm, opened a separate subsidies probe into Chinese companies bidding for a solar farm contract in Romania. - - The commission is making use of new powers under its Foreign Subsidies Regulation, aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field. - - “We saw the playbook for how China came to dominate the solar panel industry,” Vestager said, citing “massive subsidies for domestic suppliers.” - - “The result is that nowadays, less than 3% of the solar panels installed in the EU are produced in Europe,” she added, noting that China was deploying the same strategy across other areas of clean technology, including “exporting excess capacity to the rest of the world at low prices.” - - “We can’t afford to see what happened on solar panels happening again on electric vehicles, wind or essential chips,” Vestager said. - - In October, the European Commission launched an investigation into China’s subsidies for electric vehicle makers, which it suspects may be enabling these firms to keep prices super-low, creating unfair competition with European rivals. - - Beijing sees exports as a key measure to revive China’s slowing economy and is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies and reduce planet-heating pollution. - - CNN’s Wayne Chang contributed reporting.",CNN,11/04/2024,"['The European Union has launched an investigation into China’s state support for its wind turbine companies, intensifying a push to protect Europe’s industry from a flood of cheap Chinese imports.', 'Margrethe Vestager, the EU’s competition chief, said Tuesday that the probe would look into the development of wind farms in Spain, Greece, France, Romania and Bulgaria.', 'The move provides further evidence of tensions between China, the world’s biggest manufacturer, and its major trading partners resulting from the oversupply of Chinese goods in key industries around the world.', 'The country’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.', 'On Thursday, a Chinese commerce ministry official responded that Beijing “firmly opposes” the investigation.', 'The probe not only “seriously damages” the confidence of Chinese enterprises operating in Europe, but also interferes with mutually beneficial industrial cooperation between the two sides, the official said in a statement.', '“It will also affect global efforts to address climate change and the process of green transformation.”', 'Vestager’s announcement as part of a speech in Princeton, New Jersey, came just days after the European Commission, the EU’s executive arm, opened a separate subsidies probe into Chinese companies bidding for a solar farm contract in Romania.', 'The commission is making use of new powers under its Foreign Subsidies Regulation, aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.', '“We saw the playbook for how China came to dominate the solar panel industry,” Vestager said, citing “massive subsidies for domestic suppliers.”', '“The result is that nowadays, less than 3% of the solar panels installed in the EU are produced in Europe,” she added, noting that China was deploying the same strategy across other areas of clean technology, including “exporting excess capacity to the rest of the world at low prices.”', '“We can’t afford to see what happened on solar panels happening again on electric vehicles, wind or essential chips,” Vestager said.', 'In October, the European Commission launched an investigation into China’s subsidies for electric vehicle makers, which it suspects may be enabling these firms to keep prices super-low, creating unfair competition with European rivals.', 'Beijing sees exports as a key measure to revive China’s slowing economy and is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies and reduce planet-heating pollution.', 'CNN’s Wayne Chang contributed reporting.']",0.1484066301145354,Beijing sees exports as a key measure to revive China’s slowing economy and is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies and reduce planet-heating pollution.,"The move provides further evidence of tensions between China, the world’s biggest manufacturer, and its major trading partners resulting from the oversupply of Chinese goods in key industries around the world.",-0.3255401849746704,The country’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.,"The probe not only “seriously damages” the confidence of Chinese enterprises operating in Europe, but also interferes with mutually beneficial industrial cooperation between the two sides, the official said in a statement.",2024-04-11 -Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards," - Updated - 12:10 PM EST, Wed January 10, 2024 - ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees. - - When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings. - - If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel. - - You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards. - - Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back. - - Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories. - - As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything — 1% when you buy, 1% when you pay. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards. - - Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees. - - By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption. - - Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary. - - Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. - - If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points. - - Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible. - - It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year. - - Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option. - - Here’s a look at your Citi ThankYou travel redemption options and how they work. - - Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts, international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal. - - Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points. - - If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate. - - By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. - - Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines. - - Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: - - Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option. - - Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option. - - Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best. - - For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points: - - Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points. - - Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value. - - Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece. - - Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio. - - Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available. - - Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. - - Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything —1% when you buy, 1% when you pay.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points: Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.4187524857201869,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.",0.8707016060749689,"As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.",That’s significantly less than the value you’ll get from transfer partner redemptions.,2024-04-11 -Bad news for Biden (and all Americans): Inflation is creeping higher at the worst time,https://edition.cnn.com/2024/04/11/economy/biden-inflation-plan/index.html," - Published - 7:00 AM EDT, Thu April 11, 2024 - ","There’s rarely a good time for prices to rise a lot. Good luck finding someone who will tell you they enjoy it when their hard-earned dollars can’t stretch as far. - - But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate. Just as he was starting to get better marks on the economy after months of negative feedback from voters, inflation soared to the highest level in six months, according to a Bureau of Labor Statistics report issued Wednesday. - - Prices were up 3.5% for the year in March, a jump from February’s 3.1% annual inflation rate, the Consumer Price Index report showed. - - Even though the economy’s been performing well by many metrics, Biden’s learning the hard way that good data — no matter how strong — does little to change how people feel about the economy. On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy. - - But people don’t need to parse through monthly inflation reports to know prices are up. Just look at any gas station sign or the heating bill for your home — if you can even afford one. - - Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans. All that means is the rate of price increases has slowed but the actual prices we’re paying are still higher than they were in prior years. - - Since Biden took office three years ago, prices are up 19%, according to CPI data. That hasn’t won him many fans. Even his former chief of staff, Ron Klain, criticized Biden for not doing enough on inflation and “talking too much about bridges” while egg and milk prices are rising, according to audio obtained by Politico. - - Biden was quick to respond with optimism in a statement Wednesday morning. - - “We have more to do to lower costs for hardworking families,” he said. Then, like any politician would try to do, he highlighted two areas where prices are lower than they were a year ago: eggs and milk (though both are starting to rise again as bird flu spreads). Gas used to be his go-to, but after Wednesday’s report, he can no longer say prices are lower now than they were a year ago, as OPEC supply cuts and a switch to summer fuels sends prices marching toward $4 a gallon. - - Biden on Wednesday highlighted his legislative achievements and executive actions that have curbed costs as part of his plan to get price increases back to tolerable pre-pandemic levels. - - “My agenda is lowering costs for prescription drugs, health care, student debt, and hidden junk fees,” he said in the statement. Even though many life-saving drugs are vastly unaffordable to people who need them most, drug prices on the whole are only up 0.4% year-over-year. Health insurance costs, meanwhile, are down 15%. - - But canceling more student debt, as popular as it may be with Gen Z voters in particular, could prove to be inflationary. And the whole junk fee battle sounds good on paper but is legally complicated. Corporations don’t love being told to get rid of easy revenue streams and have tried to fight Biden on it. Similarly, he said he’s “calling on corporations including grocery retailers to use record profits to reduce prices.” If only it was that easy. - - A White House spokesperson told CNN Biden is “focused on lowering the costs that matter to hardworking families.” The spokesperson, like Biden, lambasted Republican lawmakers, saying they have “no plan to lower inflation.” - - But to his credit, Biden acknowledged one of the main drivers of inflation: housing costs. The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year. That alone accounted for 60% of the overall annual rise in prices last month. - - Part of the reason housing is more expensive is there’s a shortage. So Biden’s proposal to build and renovate more than 2 million could help. But it’s unlikely to happen before November.",CNN,11/04/2024,"['There’s rarely a good time for prices to rise a lot.', 'Good luck finding someone who will tell you they enjoy it when their hard-earned dollars can’t stretch as far.', 'But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate.', 'Just as he was starting to get better marks on the economy after months of negative feedback from voters, inflation soared to the highest level in six months, according to a Bureau of Labor Statistics report issued Wednesday.', 'Prices were up 3.5% for the year in March, a jump from February’s 3.1% annual inflation rate, the Consumer Price Index report showed.', 'Even though the economy’s been performing well by many metrics, Biden’s learning the hard way that good data — no matter how strong — does little to change how people feel about the economy.', 'On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy.', 'But people don’t need to parse through monthly inflation reports to know prices are up.', 'Just look at any gas station sign or the heating bill for your home — if you can even afford one.', 'Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans.', 'All that means is the rate of price increases has slowed but the actual prices we’re paying are still higher than they were in prior years.', 'Since Biden took office three years ago, prices are up 19%, according to CPI data.', 'That hasn’t won him many fans.', 'Even his former chief of staff, Ron Klain, criticized Biden for not doing enough on inflation and “talking too much about bridges” while egg and milk prices are rising, according to audio obtained by Politico.', 'Biden was quick to respond with optimism in a statement Wednesday morning.', '“We have more to do to lower costs for hardworking families,” he said.', 'Then, like any politician would try to do, he highlighted two areas where prices are lower than they were a year ago: eggs and milk (though both are starting to rise again as bird flu spreads).', 'Gas used to be his go-to, but after Wednesday’s report, he can no longer say prices are lower now than they were a year ago, as OPEC supply cuts and a switch to summer fuels sends prices marching toward $4 a gallon.', 'Biden on Wednesday highlighted his legislative achievements and executive actions that have curbed costs as part of his plan to get price increases back to tolerable pre-pandemic levels.', '“My agenda is lowering costs for prescription drugs, health care, student debt, and hidden junk fees,” he said in the statement.', 'Even though many life-saving drugs are vastly unaffordable to people who need them most, drug prices on the whole are only up 0.4% year-over-year.', 'Health insurance costs, meanwhile, are down 15%.', 'But canceling more student debt, as popular as it may be with Gen Z voters in particular, could prove to be inflationary.', 'And the whole junk fee battle sounds good on paper but is legally complicated.', 'Corporations don’t love being told to get rid of easy revenue streams and have tried to fight Biden on it.', 'Similarly, he said he’s “calling on corporations including grocery retailers to use record profits to reduce prices.”', 'If only it was that easy.', 'A White House spokesperson told CNN Biden is “focused on lowering the costs that matter to hardworking families.”', 'The spokesperson, like Biden, lambasted Republican lawmakers, saying they have “no plan to lower inflation.”', 'But to his credit, Biden acknowledged one of the main drivers of inflation: housing costs.', 'The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.', 'That alone accounted for 60% of the overall annual rise in prices last month.', 'Part of the reason housing is more expensive is there’s a shortage.', 'So Biden’s proposal to build and renovate more than 2 million could help.', 'But it’s unlikely to happen before November.']",0.0801234139734829,Good luck finding someone who will tell you they enjoy it when their hard-earned dollars can’t stretch as far.,"Gas used to be his go-to, but after Wednesday’s report, he can no longer say prices are lower now than they were a year ago, as OPEC supply cuts and a switch to summer fuels sends prices marching toward $4 a gallon.",0.3973709499394452,"The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.","On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy.",2024-04-11 -Dow closes 422 points lower after a surprisingly bad inflation report,https://edition.cnn.com/2024/04/10/markets/markets-fall-cpi-inflation-report/index.html," - Updated - 4:02 PM EDT, Wed April 10, 2024 - ","US stocks fell sharply Wednesday after inflation data for March came in higher than expected. - - The blue-chip Dow closed 422 points, or 1.1% lower. The S&P 500 lost 1% and the tech-heavy Nasdaq Composite fell by 0.8%. - - US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. - - That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. And while gas and shelter costs contributed more than half of that monthly increase, prices rose in pretty much every major category last month, the BLS said. - - Investors worry that the hotter-than-expected report will push back the Federal Reserve’s timeline for the rate cuts it has been hinting would come this year. - - When the Fed raises interest rates or indicates that they may stay higher for longer, markets tend to fall. This happens because when it costs more for companies to borrow money, other investments might look better compared to stocks. Some areas like housing and utilities can get hit harder because they’re more affected by interest rate changes. - - “Today’s crucial CPI print has likely sealed the fate for the June [Fed] meeting with a cut now very unlikely,” said Seema Shah, chief global strategist at Principal Asset Management, in a note Wednesday. “Even if inflation were to cool next month to a more comfortable reading, there is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to intrude with Fed decision making.” - - Just 16.5% of investors expect an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool. That’s down from 56% one day ago. - - About 57% of investors also believe rates will remain unchanged at the July meeting. That rate has more than doubled since Tuesday. - - Minutes from the Federal Reserve’s March meeting, meanwhile, showed that some Fed officials fretted over inflation remaining stubbornly high. - - Central bank officials “observed that significant progress had been made over the past year,” despite disappointing inflation readings for January and February, but some “noted that the recent increases in inflation had been relatively broad based,” according to the minutes, released on Wednesday afternoon. - - The 10-year Treasury yield, which serves as a standard for mortgage and loan rates, surged past 4.5% after the March inflation report was released. - - Wednesday’s market drop was broad as investors worried about what higher-for-longer interest rates could mean for the economy. - - Shares of bank stocks fell. Bank of America, Wells Fargo and JPMorgan Chase, which reports first quarter earnings on Friday, all closed lower on Wednesday. - - Tech stocks, including Microsoft, Amazon and Apple, also closed lower. - - But investors may be getting ahead of themselves, said EY chief economist Gregory Daco. There are two more CPI reports and two Personal Consumption Expenditures reports due out before the Fed’s June policy meeting. - - Many Fed officials “will wait to observe the read on their favored inflation gauge — PCE inflation — later this month before adjusting their views,” he wrote in a note on Wednesday. - - Still, President Joe Biden acknowledged there is “more to do” to keep costs down. - - “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement Wednesday morning. - - As stocks settle after the trading day, levels might still change slightly.",CNN,10/04/2024,"['US stocks fell sharply Wednesday afterinflationdata for March came in higher than expected.', 'The blue-chip Dow closed 422 points, or 1.1% lower.', 'The S&P 500 lost 1% and the tech-heavy Nasdaq Composite fell by 0.8%.', 'US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.', 'That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months.', 'And while gas and shelter costs contributed more than half of that monthly increase, prices rose in pretty much every major category last month, the BLS said.', 'Investors worry that the hotter-than-expected report will push back the Federal Reserve’s timeline for the rate cuts it has been hinting would come this year.', 'When the Fed raises interest rates or indicates that they may stay higher for longer, markets tend to fall.', 'This happens because when it costs more for companies to borrow money, other investments might look better compared to stocks.', 'Some areas like housing and utilities can get hit harder because they’re more affected by interest rate changes.', '“Today’s crucial CPI print has likely sealed the fate for the June [Fed] meeting with a cut now very unlikely,” said Seema Shah, chief global strategist at Principal Asset Management, in a note Wednesday. “', 'Even if inflation were to cool next month to a more comfortable reading, there is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to intrude with Fed decision making.”', 'Just 16.5% of investors expect an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.', 'That’s down from 56% one day ago.', 'About 57% of investors also believe rates will remain unchanged at the July meeting.', 'That rate has more than doubled since Tuesday.', 'Minutes from the Federal Reserve’s March meeting, meanwhile, showed that some Fed officials fretted over inflation remaining stubbornly high.', 'Central bank officials “observed that significant progress had been made over the past year,” despite disappointing inflation readings for January and February, but some “noted that the recent increases in inflation had been relatively broad based,” according to the minutes, released on Wednesday afternoon.', 'The 10-year Treasury yield, which serves as a standard for mortgage and loan rates, surged past 4.5% after the March inflation report was released.', 'Wednesday’s market drop was broad as investors worried about what higher-for-longer interest rates could mean for the economy.', 'Shares of bank stocks fell.', 'Bank of America, Wells Fargo and JPMorgan Chase, which reports first quarter earnings on Friday, all closed lower on Wednesday.', 'Tech stocks, including Microsoft, Amazon and Apple, also closed lower.', 'But investors may be getting ahead of themselves, said EY chief economist Gregory Daco.', 'There are two more CPI reports and two Personal Consumption Expenditures reports due out before the Fed’s June policy meeting.', 'Many Fed officials “will wait to observe the read on their favored inflation gauge — PCE inflation — later this month before adjusting their views,” he wrote in a note on Wednesday.', 'Still, President Joe Biden acknowledged there is “more to do” to keep costs down.', '“Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families.', 'Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement Wednesday morning.', 'As stocks settle after the trading day, levels might still change slightly.']",0.1004816650993037,"And while gas and shelter costs contributed more than half of that monthly increase, prices rose in pretty much every major category last month, the BLS said.",Investors worry that the hotter-than-expected report will push back the Federal Reserve’s timeline for the rate cuts it has been hinting would come this year.,-0.1566822032133738,"US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.",US stocks fell sharply Wednesday afterinflationdata for March came in higher than expected.,2024-04-11 -"AI could be as consequential to the economy as electricity, says Jamie Dimon",https://edition.cnn.com/2024/04/08/investing/jamie-dimon-shareholder-letter-ai-future/index.html," - Published - 6:15 AM EDT, Mon April 8, 2024 - ","Jamie Dimon believes artificial intelligence will have a huge impact on global business this year. - - Dimon, one of the world’s most influential business leaders, said in his annual shareholder letter Monday that while he doesn’t yet know the full effect AI will have on business, the economy or society, he knows its influence will be significant. - - “We are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet, among others,” the JPMorgan Chase (JPM) CEO wrote in the letter. - - The AI explosion has already transformed workplaces across the world and nearly 40% of global employment could be disrupted by AI, according to the International Monetary Fund. Industries from medicine to finance to music have already felt its effects. - - Shares of companies associated with the AI boom have soared. Chipmaker Nvidia (NVDA) is up more than 219% over the last 12 months, while Microsoft (MSFT) is up nearly 50%. - - JPMorgan, the world’s largest bank by market capitalization, is exploring the potential of generative AI within its own ecosystem, said Dimon. Software engineering, customer service and operations and general employee productivity are all getting AI makeovers. - - “Over time,” wrote Dimon, “we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition. It may reduce certain job categories or roles, but it may create others as well.” - - JPMorgan’s organization now includes more than 2,000 AI and machine learning experts, and the bank recently announced a new position for a chief data & analytics officer that sits on their operating committee. - - Dimon also recognized the risks that come with the AI boom. “You may already be aware that there are bad actors using AI to try to infiltrate companies’ systems to steal money and intellectual property or simply to cause disruption and damage,” he wrote. - - In January, JPMorgan said it had seen a sizable increase in daily attempts by hackers to infiltrate its systems over the last year, highlighting the escalating cybersecurity challenges the bank and other Wall Street firms are facing. - - JPMorgan Chase, the largest US bank by assets, now invests $15 billion a year and employs 62,000 technologists to, in part, help fortify its defense against cyber crimes. - - JPMorgan acquired most of First Republic’s assets last May after the San Francisco-based regional bank was seized by the government. It marked the second-biggest bank failure in US history. - - The fall was part of the collapse of three US regional lenders last spring that left financial institutions and regulators scrambling to prevent the spread of a banking crisis. - - “When we purchased First Republic in May 2023 following the failure of two other regional banks, Silicon Valley Bank (SVB) and Signature Bank, we thought that the current banking crisis was over,” Dimon wrote on Monday. - - Only those three banks, he said, had the “toxic combination” of extreme interest rate exposure, large unrealized losses and highly concentrated deposits. But he warned, if interest rates increase or there is a recession, “there will be plenty of stress — not just in the banking system but with leveraged companies and others.” - - Dimon warned investors once again that the US “may be entering one of the most treacherous geopolitical eras since World War II.” - - While key economic indicators appear to be strong and inflation rates are easing, he sees many potential risks. - - “All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure,” he wrote. - - Markets are currently pricing in a 70% to 80% chance of a soft landing, where inflation is tamped down without triggering an economic downturn. Dimon wrote those odds are far too optimistic. - - Traders, he said, are paying too much attention to the monthly machinations of the Federal Reserve and not enough attention to longterm geopolitical and policy risks. - - “There seems to be an enormous focus, too much so, on monthly inflation data and modest changes to interest rates,” he wrote. - - Instead, investors should be thinking about what might happen a year or two from now. “Small changes in interest rates today may have less impact on inflation in the future than many people believe,” he said. - - Dimon has previously spoken out about his fears regarding high levels of US debt, fiscal stimulus and deficit spending, as well as the effects of quantitative tightening. - - “The impacts of these geopolitical and economic forces are large and somewhat unprecedented,” he wrote. “They may not be fully understood until they have completely played out over multiple years.”",CNN,08/04/2024,"['Jamie Dimon believes artificial intelligence will have a huge impact on global business this year.', 'Dimon, one of the world’s most influential business leaders, said in his annual shareholder letter Monday that while he doesn’t yet know the full effect AI will have on business, the economy or society, he knows its influence will be significant.', '“We are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet, among others,” the JPMorgan Chase (JPM) CEO wrote in the letter.', 'The AI explosion has already transformed workplaces across the world and nearly 40% of global employment could be disrupted by AI, according to the International Monetary Fund.', 'Industries from medicine to finance to music have already felt its effects.', 'Shares of companies associated withthe AI boom have soared.', 'Chipmaker Nvidia (NVDA) is up more than 219% over the last 12 months, while Microsoft (MSFT) is up nearly 50%.', 'JPMorgan, the world’s largest bank by market capitalization, is exploring the potential of generative AI within its own ecosystem, said Dimon.', 'Software engineering, customer service and operations and general employee productivity are all getting AI makeovers.', '“Over time,” wrote Dimon, “we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition.', 'It may reduce certain job categories or roles, but it may create others as well.”', 'JPMorgan’s organization now includes more than 2,000 AI and machine learning experts, and the bank recently announced a new position for a chief data & analytics officer that sits on their operating committee.', 'Dimon also recognized the risks that come with the AI boom. “', 'You may already be aware that there are bad actors using AI to try to infiltrate companies’ systems to steal money and intellectual property or simply to cause disruption and damage,” he wrote.', 'In January, JPMorgan said it had seen a sizable increase in daily attempts by hackers to infiltrate its systems over the last year, highlighting the escalating cybersecurity challenges the bank and other Wall Street firms are facing.', 'JPMorgan Chase, the largest US bank by assets, now invests $15 billion a year and employs 62,000 technologists to, in part, help fortify its defense against cyber crimes.', 'JPMorgan acquired most of First Republic’s assets last May after the San Francisco-based regional bank was seized by the government.', 'It marked the second-biggest bank failure in US history.', 'The fall was part of the collapse of three US regional lenders last spring that left financial institutions and regulators scrambling to prevent the spread of a banking crisis.', '“When we purchased First Republic in May 2023 following the failure of two other regional banks, Silicon Valley Bank (SVB) and Signature Bank, we thought that the current banking crisis was over,” Dimon wrote on Monday.', 'Only those three banks, he said, had the “toxic combination” of extreme interest rate exposure, large unrealized losses and highly concentrated deposits.', 'But he warned, if interest rates increase or there is a recession, “there will be plenty of stress — not just in the banking system but with leveraged companies and others.”', 'Dimon warned investors once again that the US “may be entering one of the most treacherous geopolitical eras since World War II.”', 'While key economic indicators appear to be strong and inflation rates are easing, he sees many potential risks.', '“All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure,” he wrote.', 'Markets are currently pricing in a 70% to 80% chance of a soft landing, where inflation is tamped down without triggering an economic downturn.', 'Dimon wrote those odds are far too optimistic.', 'Traders, he said, are paying too much attention to the monthly machinations of the Federal Reserve and not enough attention to longterm geopolitical and policy risks.', '“There seems to be an enormous focus, too much so, on monthly inflation data and modest changes to interest rates,” he wrote.', 'Instead, investors should be thinking about what might happen a year or two from now. “', 'Small changes in interest rates today may have less impact on inflation in the future than many people believe,” he said.', 'Dimon has previously spoken out about his fears regarding high levels of US debt, fiscal stimulus and deficit spending, as well as the effects of quantitative tightening.', '“The impacts of these geopolitical and economic forces are large and somewhat unprecedented,” he wrote. “', 'They may not be fully understood until they have completely played out over multiple years.”']",0.0441035686520721,"It may reduce certain job categories or roles, but it may create others as well.”","You may already be aware that there are bad actors using AI to try to infiltrate companies’ systems to steal money and intellectual property or simply to cause disruption and damage,” he wrote.",0.2675571473021256,"Chipmaker Nvidia (NVDA) is up more than 219% over the last 12 months, while Microsoft (MSFT) is up nearly 50%.","“All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure,” he wrote.",2024-04-11 -Jail those responsible for Post Office scandal - minister,https://www.bbc.co.uk/news/business-68760215,2024-04-08T12:53:24.000Z,"The Post Office minister has told the BBC that those responsible for the Horizon scandal ""should go to jail"". Kevin Hollinrake told a BBC Breakfast audience of sub-postmasters that ""people should be prosecuted"" when evidence is ""established"", and ""people within the Post Office, possibly further afield, should go to jail"". More than 700 people were prosecuted by the Post Office between 1999 and 2015. To date, just 37 have received full and final compensation settlements. Mr Hollinrake's comments follow those of Alan Bates, whose campaign and battle against the Post Office was dramatised in an ITV mini-series earlier this year. ""People have got to be held accountable,"" the former sub-postmaster previously told the BBC. ""That's got to happen. And we're going to have to carry on campaigning for that to occur."" Mr Bates said the campaign group would ""start looking at prosecutions"" after the public inquiry into the scandal ends, adding that some of the bonuses paid to Post Office bosses over the years should be ""clawed back"". The public inquiry will resume on Tuesday. The latest hearings will last 15 weeks, and witnesses will include key figures at the heart of the scandal - including Mr Bates and former Post Office chief executive Paula Vennells. Hundreds of sub-postmasters were prosecuted for theft and false accounting by the Post Office - which is owned by the government - based on a faulty accounting software system called Horizon. Many poured in their own life savings to cover shortfalls in the accounts. The Post Office scandal is widely regarded as the most widespread miscarriage of justice in British legal history. The government is introducing legislation to overturn the convictions of sub-postmasters linked to Horizon. Mr Hollinrake admitted on Monday that wrongly prosecuted sub-postmasters and sub-postmistresses were not being compensated quickly enough, and that the process of financial redress needed to be simplified. ""We do need to compensate people, that's the first thing we need to do and we haven't been compensating people quickly enough. We need to accelerate that,"" Mr Hollinrake said on the BBC Breakfast programme, which was broadcast from Fenny Compton, the Warwickshire village where Mr Bates convened the first gathering of sub-postmasters in 2009. There are also three main compensation schemes aimed at groups of victims who had different experiences of the scandal. The Post Office has further details on the scheme on its website. The government has provided funding to the Post Office for these payments, but MPs have warned that the Post Office is ""not fit"" to run any compensation scheme, that it is removed from involvement, and replaced by a new independent body. Mr Hollinrake told the audience: ""We need to simplify the process is what we need to do. If you've had a conviction then you can go down two routes - the fixed sum award of £600,000 which you get pretty much immediately or the full assessment route [which is] is more complicated, it does take more time. We are keen to make that as streamlined as possible."" David Morley, a former sub-postmaster, said that in 2001: ""I proved in front of Post Office managers and in front of Fujitsu managers that the system was faulty and they did have remote access to postmasters' accounts. Now my question to you sir is do you think evidence of that meeting was deliberately suppressed?"" Mr Hollinrake said he couldn't say if it was deliberately suppressed ""because I wasn't there and wasn't party to the conversations afterwards but someone knew something at a very early stage"". Many Post Office victims who appeared on the programme became emotional when telling their stories. Jess Kaur was a postmistress in Walsall in the West Midlands and suffered a mental breakdown after being wrongly accused in 2009 of stealing £11,000. ""When I was in hospital, the Post Office sent their own doctors to see if I was actually ill. And that's what really hurt the most,"" she recalled. Other former postmasters gasped as she said the Post Office did not believe she was in hospital for having a mental breakdown. Charges against Ms Kaur were dropped in 2011, but she said there had been ""too many broken promises"" for her to know when the final ""win"" would happen for her and others falsely accused. Seema Misra was sent to prison while she was pregnant. She was a sub-postmistress in West Byfleet, Surrey, and was wrongfully accused of stealing £70,000. Although she was cleared in 2021, she said she was ""still fighting on til the proper accountability is done"". On the day she was sentenced it was her son's 10th birthday. ""We did not know what to say to him. We told him because mummy's pregnant she's just gone to a special hospital."" On the morning she was due to go to court, she had said to her son that she would see him later that day. ""Why would someone send me to prison for a crime I never committed?"" she said tearfully. Mark Kelly was a sub-postmaster in Swansea from 2003 to 2006, and came to the BBC studio with his support dog Gizmo who helps keep him calm after the anxiety resulting from being wrongfully accused of false accounting. He said he felt like he wanted to take his own life, and became depressed and isolated. ""Once I started hearing about all the problems which other postmasters were having, like people committing suicide and people going to prison when pregnant, I started to feel quite guilty from it all. I felt like I could have done something more [to help others],"" he said. Lee Castleton was left bankrupt in 2007 after losing a legal battle with the Post Office who falsely accused him of stealing £25,000 from the branch he managed in Bridlington, East Yorkshire. He was played by the actor Will Mellor in ITV's drama about the scandal. ""The journey for all of us has been so painful. We still have to give each other support because it's not over, it's still ongoing,"" Mr Castleton said. He said he still finds it hard to get up each morning. ""I can't believe what we've been through."" BBC Breakfast came live from Fenny Compton, the village where former sub-postmasters held their first meeting, on Monday. The programme brought together 60 people whose lives have been changed by the scandal. You can watch the programme on BBC iPlayer. ",BBC,08/04/2024,"['The Post Office minister has told the BBC that those responsible for the Horizon scandal ""should go to jail"".', 'Kevin Hollinrake told a BBC Breakfast audience of sub-postmasters that ""people should be prosecuted"" when evidence is ""established"", and ""people within the Post Office, possibly further afield, should go to jail"".', 'More than 700 people were prosecuted by the Post Office between 1999 and 2015.', 'To date, just 37 have received full and final compensation settlements.', 'Mr Hollinrake\'s comments follow those of Alan Bates, whose campaign and battle against the Post Office was dramatised in an ITV mini-series earlier this year. ""', 'People have got to be held accountable,"" the former sub-postmaster previously told the BBC. ""', ""That's got to happen."", 'And we\'re going to have to carry on campaigning for that to occur.""', 'Mr Bates said the campaign group would ""start looking at prosecutions"" after the public inquiry into the scandal ends, adding that some of the bonuses paid to Post Office bosses over the years should be ""clawed back"".', 'The public inquiry will resume on Tuesday.', 'The latest hearings will last 15 weeks, and witnesses will include key figures at the heart of the scandal - including Mr Bates and former Post Office chief executive Paula Vennells.', 'Hundreds of sub-postmasters were prosecuted for theft and false accounting by the Post Office - which is owned by the government - based on a faulty accounting software system called Horizon.', 'Many poured in their own life savings to cover shortfalls in the accounts.', 'The Post Office scandal is widely regarded as the most widespread miscarriage of justice in British legal history.', 'The government is introducing legislation to overturn the convictions of sub-postmasters linked to Horizon.', 'Mr Hollinrake admitted on Monday that wrongly prosecuted sub-postmasters and sub-postmistresses were not being compensated quickly enough, and that the process of financial redress needed to be simplified. ""', ""We do need to compensate people, that's the first thing we need to do and we haven't been compensating people quickly enough."", 'We need to accelerate that,"" Mr Hollinrake said on the BBC Breakfast programme, which was broadcast from Fenny Compton, the Warwickshire village where Mr Bates convened the first gathering of sub-postmasters in 2009.', 'There are also three main compensation schemes aimed at groups of victims who had different experiences of the scandal.', 'The Post Office has further details on the scheme on its website.', 'The government has provided funding to the Post Office for these payments, but MPs have warned that the Post Office is ""not fit"" to run any compensation scheme, that it is removed from involvement, and replaced by a new independent body.', 'Mr Hollinrake told the audience: ""We need to simplify the process is what we need to do.', ""If you've had a conviction then you can go down two routes - the fixed sum award of £600,000 which you get pretty much immediately or the full assessment route [which is] is more complicated, it does take more time."", 'We are keen to make that as streamlined as possible.""', 'David Morley, a former sub-postmaster, said that in 2001: ""I proved in front of Post Office managers and in front of Fujitsu managers that the system was faulty and they did have remote access to postmasters\' accounts.', 'Now my question to you sir is do you think evidence of that meeting was deliberately suppressed?""', 'Mr Hollinrake said he couldn\'t say if it was deliberately suppressed ""because I wasn\'t there and wasn\'t party to the conversations afterwards but someone knew something at a very early stage"".', 'Many Post Office victims who appeared on the programme became emotional when telling their stories.', 'Jess Kaur was a postmistress in Walsall in the West Midlands and suffered a mental breakdown after being wrongly accused in 2009 of stealing £11,000. ""', 'When I was in hospital, the Post Office sent their own doctors to see if I was actually ill.', 'And that\'s what really hurt the most,"" she recalled.', 'Other former postmasters gasped as she said the Post Office did not believe she was in hospital for having a mental breakdown.', 'Charges against Ms Kaur were dropped in 2011, but she said there had been ""too many broken promises"" for her to know when the final ""win"" would happen for her and others falsely accused.', 'Seema Misra was sent to prison while she was pregnant.', 'She was a sub-postmistress in West Byfleet, Surrey, and was wrongfully accused of stealing £70,000.', 'Although she was cleared in 2021, she said she was ""still fighting on til the proper accountability is done"".', 'On the day she was sentenced it was her son\'s 10th birthday. ""', 'We did not know what to say to him.', 'We told him because mummy\'s pregnant she\'s just gone to a special hospital.""', 'On the morning she was due to go to court, she had said to her son that she would see him later that day. ""', 'Why would someone send me to prison for a crime I never committed?""', 'she said tearfully.', 'Mark Kelly was a sub-postmaster in Swansea from 2003 to 2006, and came to the BBC studio with his support dog Gizmo who helps keep him calm after the anxiety resulting from being wrongfully accused of false accounting.', 'He said he felt like he wanted to take his own life, and became depressed and isolated. ""', 'Once I started hearing about all the problems which other postmasters were having, like people committing suicide and people going to prison when pregnant, I started to feel quite guilty from it all.', 'I felt like I could have done something more [to help others],"" he said.', 'Lee Castleton was left bankrupt in 2007 after losing a legal battle with the Post Office who falsely accused him of stealing £25,000 from the branch he managed in Bridlington, East Yorkshire.', 'He was played by the actor Will Mellor in ITV\'s drama about the scandal. ""', 'The journey for all of us has been so painful.', 'We still have to give each other support because it\'s not over, it\'s still ongoing,"" Mr Castleton said.', 'He said he still finds it hard to get up each morning. ""', 'I can\'t believe what we\'ve been through.""', 'BBC Breakfast came live from Fenny Compton, the village where former sub-postmasters held their first meeting, on Monday.', 'The programme brought together 60 people whose lives have been changed by the scandal.', 'You can watch the programme on BBC iPlayer.']",-0.1447916293305839,"If you've had a conviction then you can go down two routes - the fixed sum award of £600,000 which you get pretty much immediately or the full assessment route [which is] is more complicated, it does take more time.","Lee Castleton was left bankrupt in 2007 after losing a legal battle with the Post Office who falsely accused him of stealing £25,000 from the branch he managed in Bridlington, East Yorkshire.",-0.8753040581941605,,"Mr Hollinrake admitted on Monday that wrongly prosecuted sub-postmasters and sub-postmistresses were not being compensated quickly enough, and that the process of financial redress needed to be simplified. """,2024-04-11 -US inflation jumps as fuel and housing costs rise,https://www.bbc.co.uk/news/business-68781482,2024-04-10T13:35:16.000Z,"Consumer prices in the US rose faster than expected last month, in a sign that the fight to slow inflation has stalled. Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said. Higher costs for fuel, housing, dining out and clothing drove the increase. Analysts warned that the lack of progress in curbing price rises will force the US central bank to keep interest rates higher for longer. Higher rates help stabilise prices by making it more expensive to borrow for business expansions and other spending. In theory, that in turn slows the economy, and eases the pressures pushing up prices. The Federal Reserve's key interest rate is now at the highest level in more than two decades, in the range of 5.25%-5.5%. Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022. But recent economic data, including strong jobs creation figures last week, has raised doubts about how soon those cuts might come. Shares on Wall Street closed lower on Wednesday as investors had been betting that rates could soon be cut. Analysts, who once expected rate cuts as soon as March, have been rapidly revising bets, with many now not expecting any until later this summer and some predicting the bank could wait until next year. What the Fed decides to do is likely to shape decisions by central banks around the world, said Neil Birrell, chief investment officer at Premier Miton Diversified Funds. ""The Fed has got some head scratching to do and if other central banks were waiting for the Fed to move, they have got a conundrum on their hands now,"" he said. Inflation cooled rapidly over 2023 as pandemic-era supply issues healed and the spike in food and energy prices sparked by the war in Ukraine faded, but it still remains higher than the bank's 2% target. An uptick in oil prices in recent months has also pushed energy costs higher, while prices for services show little sign of stabilising. The Labor Department said prices had jumped 0.4% from March to February, the same as in February. Higher petrol and housing costs accounted for more than half the increase. Car insurance, medical care and costs for internet also contributed. So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""We shouldn't overreact to the jump in headline inflation - which was all about energy,"" said Brian Coulton, chief economist at Fitch Ratings. But he added: ""The details are not at all reassuring for the Fed."" ",BBC,10/04/2024,"['Consumer prices in the US rose faster than expected last month, in a sign that the fight to slow inflation has stalled.', 'Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.', 'Higher costs for fuel, housing, dining out and clothing drove the increase.', 'Analysts warned that the lack of progress in curbing price rises will force the US central bank to keep interest rates higher for longer.', 'Higher rates help stabilise prices by making it more expensive to borrow for business expansions and other spending.', 'In theory, that in turn slows the economy, and eases the pressures pushing up prices.', ""The Federal Reserve's key interest rate is now at the highest level in more than two decades, in the range of 5.25%-5.5%."", 'Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022.', 'But recent economic data, including strong jobs creation figures last week, has raised doubts about how soon those cuts might come.', 'Shares on Wall Street closed lower on Wednesday as investors had been betting that rates could soon be cut.', 'Analysts, who once expected rate cuts as soon as March, have been rapidly revising bets, with many now not expecting any until later this summer and some predicting the bank could wait until next year.', 'What the Fed decides to do is likely to shape decisions by central banks around the world, said Neil Birrell, chief investment officer at Premier Miton Diversified Funds. ""', 'The Fed has got some head scratching to do and if other central banks were waiting for the Fed to move, they have got a conundrum on their hands now,"" he said.', ""Inflation cooled rapidly over 2023 as pandemic-era supply issues healed and the spike in food and energy prices sparked by the war in Ukraine faded, but it still remains higher than the bank's 2% target."", 'An uptick in oil prices in recent months has also pushed energy costs higher, while prices for services show little sign of stabilising.', 'The Labor Department said prices had jumped 0.4% from March to February, the same as in February.', 'Higher petrol and housing costs accounted for more than half the increase.', 'Car insurance, medical care and costs for internet also contributed.', 'So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""', 'We shouldn\'t overreact to the jump in headline inflation - which was all about energy,"" said Brian Coulton, chief economist at Fitch Ratings.', 'But he added: ""The details are not at all reassuring for the Fed.""']",0.0619528373528281,"So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""","Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022.",0.4771321556147407,"Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.",Analysts warned that the lack of progress in curbing price rises will force the US central bank to keep interest rates higher for longer.,2024-04-11 -It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion," - - 11:21 AM EST, Wed February 14, 2024 - ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point. - - Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower. - - This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it. - - With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon. - - To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story. - - Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added. - - Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion. - - But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so. - - If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible. - - But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply. - - When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel. - - However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer. - - To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order. - - Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer. - - Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment. - - With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax. - - Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer. - - Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back. - - Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access. - - Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year. - - Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon. - - Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points.,-0.0578339397907257,"Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.",But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.,2024-04-11 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-04-11 -Biden to give Taiwan’s TSMC $6.6 billion to ramp up US chip production,https://edition.cnn.com/2024/04/08/tech/tsmc-arizona-chip-factory-investment/index.html," - Updated - 8:39 PM EDT, Mon April 8, 2024 - ","The US government plans to give $6.6 billion to the world’s biggest manufacturer of semiconductor chips to help it build three factories in Arizona as part of President Joe Biden’s efforts to secure the supply of advanced chips. - - The White House announced Monday that it had signed a non-binding agreement with Taiwan Semiconductor Manufacturing Company (TSMC) to provide it with the funds for the Phoenix-based fabrication plants, or “fabs,” in addition to roughly $5 billion in government loans. - - “America invented these chips, but over time, we went from producing nearly 40% of the world’s capacity to close to 10%, and none of the most advanced chips,” Biden said in a statement. “(That exposes) us to significant economic and national security vulnerabilities.” - - In addition to two previously announced US plants, the Taiwanese chip-maker, which manufactures an estimated 90% of the world’s most advanced chip, said Monday that it would build a third, bringing its total investment in Arizona to more than $65 billion. - - TSMC (TSM) Chairman Mark Liu called the investment “unprecedented” in a statement, noting that its US customers include several of the world’s leading technology companies. The three fabs — the first of which is due to start production in the first half of 2025 — will give these customers access to a domestic supply of chips that power scores of products, from smartphones to satellites, as well as artificial intelligence systems. - - The company’s total $65 billion investment represents the largest foreign direct investment in Arizona’s history, the White House said. The three fabs are expected to create around 6,000 high-wage tech jobs, and more than 20,000 indirect jobs — for instance, in construction, it added. - - The US government has emphasized the need to bring more chip production onshore to limit potential supply disruptions. In a vivid demonstration of that risk, the coronavirus pandemic caused huge bottlenecks in chip deliveries around the world, and contributed to higher consumer goods prices. - - Taiwan is also in a vulnerable position: Supply chain experts and US officials worry that US-China trade tensions and potential military aggression against the island by Beijing could disrupt its vital chip-making industry. A powerful earthquake in Taiwan last week also highlighted the industry’s exposure to such natural disasters. - - In a call with reporters ahead of Monday’s announcement, US Commerce Secretary Gina Raimondo said President Biden was “tired of being at the end of the supply chain” and that the new government funds went “a long way to further strengthening our domestic supply chain resilience.” - - “For the first time ever, we will be making, at scale, the most advanced semiconductor chips on the planet here in the United States of America,” she added. - - Juliana Liu in Hong Kong contributed reporting.",CNN,08/04/2024,"['The US government plans to give $6.6 billion to the world’s biggest manufacturer of semiconductor chips to help it build three factories in Arizona as part of President Joe Biden’s efforts to secure the supply of advanced chips.', 'The White House announced Monday that it had signed a non-binding agreement with Taiwan Semiconductor Manufacturing Company (TSMC) to provide it with the funds for the Phoenix-based fabrication plants, or “fabs,” in addition to roughly $5 billion in government loans.', '“America invented these chips, but over time, we went from producing nearly 40% of the world’s capacity to close to 10%, and none of the most advanced chips,” Biden said in a statement. “(', 'That exposes) us to significant economic and national security vulnerabilities.”', 'In addition to two previously announced US plants, the Taiwanese chip-maker,which manufactures an estimated 90% of the world’s most advanced chip, said Monday that it would build a third, bringing its total investment in Arizona to more than $65 billion.', 'TSMC (TSM) Chairman Mark Liu called the investment “unprecedented” in a statement, noting that its US customers include several of the world’s leading technology companies.', 'The three fabs —the first of which is due to start production in the first half of 2025 — will give these customers access to a domestic supply of chips that power scores of products, from smartphones to satellites, as well as artificial intelligence systems.', 'The company’s total $65 billion investment represents the largest foreign direct investment in Arizona’s history, the White House said.', 'The three fabs are expected to create around 6,000 high-wage tech jobs, and more than 20,000 indirect jobs — for instance, in construction, it added.', 'The US government has emphasized the need to bring more chip production onshore to limit potential supply disruptions.', 'In a vivid demonstration of that risk, the coronavirus pandemic caused huge bottlenecks in chip deliveries around the world, and contributed to higher consumer goods prices.', 'Taiwan is also in a vulnerable position: Supply chain experts and US officials worry that US-China trade tensions and potential military aggression against the island by Beijing could disrupt its vital chip-making industry.', 'A powerful earthquake in Taiwan last week also highlighted the industry’s exposure to such natural disasters.', 'In a call with reporters ahead of Monday’s announcement, US Commerce Secretary Gina Raimondo said President Biden was “tired of being at the end of the supply chain” and that the new government funds went “a long way to further strengthening our domestic supply chain resilience.”', '“For the first time ever, we will be making, at scale, the most advanced semiconductor chips on the planet here in the United States of America,” she added.', 'Juliana Liu in Hong Kong contributed reporting.']",0.193937460212567,The US government plans to give $6.6 billion to the world’s biggest manufacturer of semiconductor chips to help it build three factories in Arizona as part of President Joe Biden’s efforts to secure the supply of advanced chips.,Taiwan is also in a vulnerable position: Supply chain experts and US officials worry that US-China trade tensions and potential military aggression against the island by Beijing could disrupt its vital chip-making industry.,0.0920843150880601,"The White House announced Monday that it had signed a non-binding agreement with Taiwan Semiconductor Manufacturing Company (TSMC) to provide it with the funds for the Phoenix-based fabrication plants, or “fabs,” in addition to roughly $5 billion in government loans.","In a vivid demonstration of that risk, the coronavirus pandemic caused huge bottlenecks in chip deliveries around the world, and contributed to higher consumer goods prices.",2024-04-11 -US wholesale inflation heated up again last month,https://edition.cnn.com/2024/04/11/economy/ppi-us-inflation-march/index.html," - Updated - 11:14 AM EDT, Thu April 11, 2024 - ","A key US inflation gauge increased last month at its fastest pace since April 2023, showing that underlying price pressures remain persistent. - - The Producer Price Index, a closely watched measure of inflation at the wholesale level, rose 2.1% for the 12 months ended in March, up from a 1.6% gain in February, according to Bureau of Labor Statistics data released Thursday. - - While the increase was below expectations — FactSet consensus estimates had the annual increase at 2.3% — the acceleration in the prices producers pay for goods and services highlights the persistence of inflation, the bumpy path to bring it lower, and supports fears that interest rates will stay higher for longer. - - PPI captures average price shifts before they reach consumers and serves as a potential signal for the prices consumers ultimately end up paying. - - “Producer prices were flat to falling throughout 2023; all three months of 2024 have seen a resumed upward trend,” Kurt Rankin, senior economist with PNC Financial Services Group, told CNN in an interview. “We’ve got plenty of upward pressure from the supply side of the economy still to make its way through to consumers over the coming months; and, of course consumer demand has not waned.” - - “The inflation fight is still very much on,” he added. - - Adding to that concern, the monthly gain in wholesale inflation wasn’t because of rising gas prices. - - On a monthly basis, US wholesale prices rose 0.2%, which was markedly slower than the 0.6% gain in February. Driving the monthly gain was a 0.3% rise in services prices, according to the BLS. - - Producers’ prices for goods fell 0.1%, a decline attributed to energy prices falling 1.6% for the month, moderating from February’s 4.1% monthly increase. However, considering that oil and fuel prices remain on the rise, that component could add further pressure on wholesale prices in months to come, Rankin said. - - “We’ve now got oil prices that are not fully reflected in the March report that producers will be facing, and that’s going to put some upward pressure,” Rankin said. - - When stripping out the more volatile components of food and energy, the closely watched “core” index moved higher for the third consecutive month, rising to 2.4% annually, up from 2.1% the month before. On a monthly basis, the core PPI slowed in line with expectations to 0.2% from 0.3%. - - Economists had projected that core PPI would rise 2.3% annually. - - Despite the increases, the annual rate of wholesale inflation (on both the overall and core level) is rising in line with what was seen in the years before the pandemic. - - However, the acceleration comes at a bad time: Wednesday’s hotter-than-expected Consumer Price Index stoked concerns that both inflation and interest rates will remain higher for longer. - - “It is difficult to know what the proper course for the Fed’s interest rate policy is right now but, certainly, the need to restart its rate hikes, paused since last July, does not seem to be necessary at this juncture,” Chris Rupkey, chief economist at FwdBonds, wrote Thursday. - - The goods and services pricing dynamics in Thursday’s PPI is playing out at businesses like All Pets Considered, an independently run pet supplies retailer that got its start more than 30 years ago and now has two locations in Greensboro, North Carolina. - - The US pet products industry experienced record inflation in recent years, with prices for food and accessories far outpacing overall inflation. The soaring price hikes came in the wake of a pandemic where more Americans added pets to their families. - - “I think the pricing and inflation has stabilized after really drastically going up in ’22 and some of ’23,” Alison R.H. Schwartz, All Pets Considered’s co-owner and general manager, told CNN in an interview. “Doesn’t mean we’re not still seeing price increases; but it’s not like they were in ’22, where it was just hand over fist that we were having two and three increases from different brands.” - - In recent months, some of those prices have even started to fall, she said. - - But on the services side of the business, it’s a little bit of a different story. The demand for grooming services exceeds the supply of available workers, she said. - - “That section of the business hasn’t seen the ebbs and flows like the retail sector and is still a pretty constantly active business that doesn’t seem to have slowed at all,” she said. “We have had to raise prices and probably will again later this year or early next year, just to keep up with inflation and to keep in mind the cost of living and everything for our employees.” - - Through the first quarter of this year, inflation data has showed that the pace of price hikes remain stubbornly high. It also reiterates what Federal Reserve officials, especially Chair Jerome Powell, have been saying all along: The fight to rein in high inflation and bring it down to target (2% annual rate as measured by the Personal Consumption Expenditures price index) will be a long and bumpy process. - - Inflation has slowed dramatically from the 40-year highs hit in 2022. In that time, the US central bank executed a series of large rate hikes before going into standby mode during the past several months. - - Despite the “last mile” living up to its arduous expectations, the Fed still has a potential soft landing, where inflation is tamped down without a surge in unemployment, in its sights: The labor market didn’t buckle under the crushing weight of rapidly higher interest rates; instead, it remained historically strong. - - In March, the US economy added 303,000 jobs, the unemployment rate remained below 4%, and wage growth eased closer to historic norms. - - On Thursday, separate data from the Department of Labor showed that layoff activity remains muted. First-time claims for unemployment benefits, considered a proxy for layoffs, totaled 211,000 for the week ended April 6, down 11,000 from the prior week’s upwardly revised level. - - Economists were expecting that Americans would file 216,500 initial claims. - - “A soft landing is still achievable,” Rankin said. “The economy is based on the US consumer and workers bringing home a paycheck and spending that paycheck: That’s 70% of the economy. We’re still creating jobs above expectations month after month, wage growth is still above consumer price inflation.” - - As such, the Fed can bide its time for a few more months, he said. - - Markets and economists have reined in their rate-cut expectations — some going as far as taking cuts off the table — amid the hotter-than-expected data. PNC is still forecasting that the Fed will make three quarter-point rate cuts this year, with the first to come in June. - - “There’s enough growth in the US economy now that rate cuts are not needed to further juice the economy to incentivize growth,” Rankin said.",CNN,11/04/2024,"['A key US inflation gauge increased last month at its fastest pace since April 2023, showing that underlying price pressures remain persistent.', 'The Producer Price Index, a closely watched measure of inflation at the wholesale level, rose 2.1% for the 12 months ended in March, up from a 1.6% gain in February, according to Bureau of Labor Statistics data released Thursday.', 'While the increase was below expectations — FactSet consensus estimates had the annual increase at 2.3% — the acceleration in the prices producers pay for goods and services highlights the persistence of inflation, the bumpy path to bring it lower, and supports fears that interest rates will stay higher for longer.', 'PPI captures average price shifts before they reach consumers and serves as a potential signal for the prices consumers ultimately end up paying.', '“Producer prices were flat to falling throughout 2023; all three months of 2024 have seen a resumed upward trend,” Kurt Rankin, senior economist with PNC Financial Services Group, told CNN in an interview. “', 'We’ve got plenty of upward pressure from the supply side of the economy still to make its way through to consumers over the coming months; and, of course consumer demand has not waned.”', '“The inflation fight is still very much on,” he added.', 'Adding to that concern, the monthly gain in wholesale inflation wasn’t because of rising gas prices.', 'On a monthly basis, US wholesale prices rose 0.2%, which was markedly slower than the 0.6% gain in February.', 'Driving the monthly gain was a 0.3% rise in services prices, according to the BLS.', 'Producers’ prices for goods fell 0.1%, a decline attributed to energy prices falling 1.6% for the month, moderating from February’s 4.1% monthly increase.', 'However, considering that oil and fuel prices remain on the rise, that component could add further pressure on wholesale prices in months to come, Rankin said.', '“We’ve now got oil prices that are not fully reflected in the March report that producers will be facing, and that’s going to put some upward pressure,” Rankin said.', 'When stripping out the more volatile components of food and energy, the closely watched “core” index moved higher for the third consecutive month, rising to 2.4% annually, up from 2.1% the month before.', 'On a monthly basis, the core PPI slowed in line with expectations to 0.2% from 0.3%.', 'Economists had projected that core PPI would rise 2.3% annually.', 'Despite the increases, the annual rate of wholesale inflation (on both the overall and core level) is rising in line with what was seen in the years before the pandemic.', 'However, the acceleration comes at a bad time: Wednesday’s hotter-than-expected Consumer Price Index stoked concerns that both inflation and interest rates will remain higher for longer.', '“It is difficult to know what the proper course for the Fed’s interest rate policy is right now but, certainly, the need to restart its rate hikes, paused since last July, does not seem to be necessary at this juncture,” Chris Rupkey, chief economist at FwdBonds, wrote Thursday.', 'The goods and services pricing dynamics in Thursday’s PPI is playing out at businesses like All Pets Considered, an independently run pet supplies retailer that got its start more than 30 years ago and now has two locations in Greensboro, North Carolina.', 'The US pet products industry experienced record inflation in recent years, with prices for food and accessories far outpacing overall inflation.', 'The soaring price hikes came in the wake of a pandemic where more Americans added pets to their families.', '“I think the pricing and inflation has stabilized after really drastically going up in ’22 and some of ’23,” Alison R.H. Schwartz, All Pets Considered’s co-owner and general manager, told CNN in an interview. “', 'Doesn’t mean we’re not still seeing price increases; but it’s not like they were in ’22, where it was just hand over fist that we were having two and three increases from different brands.”', 'In recent months, some of those prices have even started to fall, she said.', 'But on the services side of the business, it’s a little bit of a different story.', 'The demand for grooming services exceeds the supply of available workers, she said.', '“That section of the business hasn’t seen the ebbs and flows like the retail sector and is still a pretty constantly active business that doesn’t seem to have slowed at all,” she said. “', 'We have had to raise prices and probably will again later this year or early next year, just to keep up with inflation and to keep in mind the cost of living and everything for our employees.”', 'Through the first quarter of this year, inflation data has showed that the pace of price hikes remain stubbornly high.', 'It also reiterates what Federal Reserve officials, especially Chair Jerome Powell, have been saying all along: The fight to rein in high inflation and bring it down to target (2% annual rate as measured by the Personal Consumption Expenditures price index) will be a long and bumpy process.', 'Inflation has slowed dramatically from the 40-year highs hit in 2022.', 'In that time, the US central bank executed a series of large rate hikes before going into standby mode during the past several months.', 'Despite the “last mile” living up to its arduous expectations, the Fed still has a potential soft landing, where inflation is tamped down without a surge in unemployment, in its sights: The labor market didn’t buckle under the crushing weight of rapidly higher interest rates; instead, it remained historically strong.', 'In March, the US economy added 303,000 jobs, the unemployment rate remained below 4%, and wage growth eased closer to historic norms.', 'On Thursday, separate data from the Department of Labor showed that layoff activity remains muted.', 'First-time claims for unemployment benefits, considered a proxy for layoffs, totaled 211,000 for the week ended April 6, down 11,000 from the prior week’s upwardly revised level.', 'Economists were expecting that Americans would file 216,500 initial claims.', '“A soft landing is still achievable,” Rankin said. “', 'The economy is based on the US consumer and workers bringing home a paycheck and spending that paycheck: That’s 70% of the economy.', 'We’re still creating jobs above expectations month after month, wage growth is still above consumer price inflation.”', 'As such, the Fed can bide its time for a few more months, he said.', 'Markets and economists have reined in their rate-cut expectations — some going as far as taking cuts off the table — amid the hotter-than-expected data.', 'PNC is still forecasting that the Fed will make three quarter-point rate cuts this year, with the first to come in June.', '“There’s enough growth in the US economy now that rate cuts are not needed to further juice the economy to incentivize growth,” Rankin said.']",0.0922887712757809,"“That section of the business hasn’t seen the ebbs and flows like the retail sector and is still a pretty constantly active business that doesn’t seem to have slowed at all,” she said. “",Markets and economists have reined in their rate-cut expectations — some going as far as taking cuts off the table — amid the hotter-than-expected data.,0.2465401714847933,"Driving the monthly gain was a 0.3% rise in services prices, according to the BLS.","On a monthly basis, the core PPI slowed in line with expectations to 0.2% from 0.3%.",2024-04-11 -Stubbornly high US inflation grew stronger than expected in March,https://edition.cnn.com/2024/04/10/economy/cpi-consumer-price-index-inflation-march/index.html," - Updated - 3:06 PM EDT, Wed April 10, 2024 - ","Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer. - - US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. - - That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Wednesday’s report further highlights that the path to lower inflation remains extremely bumpy — and continue to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon. - - President Joe Biden acknowledged Wednesday there is “more to do” to bring down inflation. - - “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement. - - Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. - - “You can kiss a June interest rate cut goodbye,” Greg McBride, chief financial analyst for Bankrate, wrote in commentary issued Wednesday. Following the report’s release, the markets’ probability of a June rate cut sank to 21%, down from 53% on Tuesday and 73% last month, according to the CME FedWatch tool. - - US stocks tanked Wednesday after the release of the hotter-than-expected inflation data, with the blue-chip Dow falling by more than 500 points. The S&P 500 lost 1% and the Nasdaq Composite fell by 1%. - - On a monthly basis, prices were unchanged from February’s 0.4% gain. - - Gas and shelter costs contributed more than half of that monthly increase, but price increases were broad-based, according to the BLS. Aside from prices falling in only a couple of categories — used and new cars as well as fuel oil — or remaining flat (grocery store food), prices rose in pretty much every major category last month. - - Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates. - - The Fed has been wanting to see meaningful progress on inflation before it starts cutting rates. - - The pace of price hikes slowed markedly in 2023, but that progress not only hit a roadblock to start this year, it moved into reverse. - - Since the headline index can be heavily influenced by highly volatile categories such as food and energy, central bankers often look closely to the “core” index that strips out those categories. - - However, core CPI did not slow as expected. - - Excluding gas and food prices, categories that tend to be more volatile, core inflation rose 0.4% from the month before, bringing the annual rate to 3.8%, the same as February’s reading. Economists had anticipated a 0.3% monthly gain and for the annual rate to inch lower to 3.7%, according to FactSet. - - “The headline number was expected to go up because of energy prices, but the fact that core came in hotter than expected is a real bummer,” Tyler Schipper, assistant professor in economics and data analytics at the University of St. Thomas in Minnesota, told CNN. “That’s the number to fixate on in terms of underlying inflation trends, and they are very persistent and very stubborn.” - - On a three-month annualized basis, core inflation is running at 4.5%, Sarah House, managing director and senior economist at Wells Fargo, told CNN. - - The housing component of inflation has proved frustrating for economists and other observers because even while the government’s evaluation of shelter costs — which have a time lag — remains high, private sources of more recent data have shown rent cooling over the past year. - - On an annual basis, the shelter index in the March CPI didn’t budge from the 5.7% rate seen a month before. - - “Shelter was a touch firmer, and I think that does continue to raise some doubt over how quickly and how far shelter inflation can cool ahead,” House said. - - It’s not just shelter keeping services inflation stuck in the mud. The services excluding shelter index continued to outpace overall inflation, rising 0.5% for the month and 5.3% for the year, according to the report. - - Medical care services, which saw prices fall slightly in February, bounced higher by 0.6% last month. Car insurance shot up by 2.6%, bringing the annual price hike to a distasteful 22.2%. - - “We’re still seeing very stubborn services inflation,” she said. “This is the element that the Fed has really focused on. They feel like they have a better grip on goods prices and what’s going to happen ahead, but we’re still not seeing the improvement they need in the services sector if we’re going to continue to drive inflation significantly lower this year.” - - Since the pandemic-era supply chain snarls resolved, the goods sector has helped overall inflation move lower because prices have not only slowed there but, in some cases, outright fallen. - - However, supply chain pressures are building back up because of developments such as ongoing turmoil in the Red Sea, the Panama Canal’s drought, and the Key bridge collapse that blocked the Port of Baltimore. - - “You’re losing that disinflationary impulse from goods while you’re still waiting to see more progress on lowering services inflation,” House said. - - Economists have long expected that lower market-rate rents would help bring shelter inflation and overall inflation lower (the CPI’s measurement of shelter prices comes with a delay in how BLS captures the data and the natural lag effect of the signing of annual leases). But there still is hope on the services side, Schipper said. - - “Wages are one of the primary inputs into services, and those have been relatively stable and coming down nicely in the labor market,” he said. “Hopefully that starts to put some calming pressure on services over the longer term.” - - Additionally, grocery prices (categorized as “food at home” in the CPI report) were flat for the second month in a row and restaurant prices slowed 4.2% annually, the lowest rate since June 2021. - - But even though food prices aren’t rocketing higher like they were, Americans are still feeling the pressure from rising prices for services-related businesses as well as at the gas pump. - - It’s going to be a “slow, slow process” for inflation to get back to a place where consumers aren’t having to think about it in their daily lives, House said. - - “Prices are not going to revert to where they were, so the best we can look for is a moderation in the rate at which prices are going up,” she said. “You see some stabilization in some key areas like the grocery store; but overall, you’re still going to see consumers bothered by the current price environment for some time.” - - This story has been updated with additional developments and context. It also corrects the date of the report, which was issued Wednesday.",CNN,10/04/2024,"['Surging gas prices and sky-high mortgages and rent sentinflationrising more than expected in March, adding to Americans’ prolonged and painful battle with high costs.', 'That could force theFederal Reserveto keep its punishingrateshigher for longer.', 'US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.', 'That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months.', 'Wednesday’s report further highlights that the path to lower inflation remains extremely bumpy — and continue to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon.', 'President Joe Biden acknowledged Wednesday there is “more to do” to bring downinflation.', '“Today’s report showsinflationhas fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families.', 'Prices are still too high forhousingand groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement.', 'Inflationhas been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of theeconomy.', '“You can kiss a June interest rate cut goodbye,” Greg McBride, chief financial analyst for Bankrate, wrote in commentary issued Wednesday.', 'Following the report’s release, the markets’ probability of a June rate cut sank to 21%, down from 53% on Tuesday and 73% last month, according to the CME FedWatch tool.', 'US stocks tanked Wednesday after the release of the hotter-than-expected inflation data, with the blue-chip Dow falling by more than 500 points.', 'The S&P 500 lost 1% and the Nasdaq Composite fell by 1%.', 'On a monthly basis, prices were unchanged from February’s 0.4% gain.', 'Gas and shelter costs contributed more than half of that monthly increase, but price increases were broad-based, according to the BLS.', 'Aside from prices falling in only a couple of categories — used and new cars as well as fuel oil — or remaining flat (grocery store food), prices rose in pretty much every major category last month.', 'Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates.', 'The Fed has been wanting to see meaningful progress on inflation before it starts cutting rates.', 'The pace of price hikes slowed markedly in 2023, but that progress not only hit a roadblock to start this year, it moved into reverse.', 'Since the headline index can be heavily influenced by highly volatile categories such as food and energy, central bankers often look closely to the “core” index that strips out those categories.', 'However, core CPI did not slow as expected.', 'Excluding gas and food prices, categories that tend to be more volatile, core inflation rose 0.4% from the month before, bringing the annual rate to 3.8%, the same as February’s reading.', 'Economists had anticipated a 0.3% monthly gain and for the annual rate to inch lower to 3.7%, according to FactSet.', '“The headline number was expected to go up because of energy prices, but the fact that core came in hotter than expected is a real bummer,” Tyler Schipper, assistant professor in economics and data analytics at the University of St. Thomas in Minnesota, told CNN. “', 'That’s the number to fixate on in terms of underlying inflation trends, and they are very persistent and very stubborn.”', 'On a three-month annualized basis, core inflation is running at 4.5%, Sarah House, managing director and senior economist at Wells Fargo, told CNN.', 'The housing component of inflation has proved frustrating for economists and other observers because even while the government’s evaluation of shelter costs — which have a time lag — remains high, private sources of more recent data have shown rent cooling over the past year.', 'On an annual basis, the shelter index in the March CPI didn’t budge from the 5.7% rate seen a month before.', '“Shelter was a touch firmer, and I think that does continue to raise some doubt over how quickly and how far shelter inflation can cool ahead,” House said.', 'It’s not just shelter keeping services inflation stuck in the mud.', 'The services excluding shelter index continued to outpace overall inflation, rising 0.5% for the month and 5.3% for the year, according to the report.', 'Medical care services, which saw prices fall slightly in February, bounced higher by 0.6% last month.', 'Car insurance shot up by 2.6%, bringing the annual price hike to a distasteful 22.2%.', '“We’re still seeing very stubborn services inflation,” she said. “', 'This is the element that the Fed has really focused on.', 'They feel like they have a better grip on goods prices and what’s going to happen ahead, but we’re still not seeing the improvement they need in the services sector if we’re going to continue to drive inflation significantly lower this year.”', 'Since the pandemic-era supply chain snarls resolved, the goods sector has helped overall inflation move lower because prices have not only slowed there but, in some cases, outright fallen.', 'However, supply chain pressures are building back up because of developments such as ongoing turmoil in the Red Sea, the Panama Canal’s drought, and the Key bridge collapse that blocked the Port of Baltimore.', '“You’re losing that disinflationary impulse from goods while you’re still waiting to see more progress on lowering services inflation,” House said.', 'Economists have long expected that lower market-rate rents would help bring shelter inflation and overall inflation lower (the CPI’s measurement of shelter prices comes with a delay in how BLS captures the data and the natural lag effect of the signing of annual leases).', 'But there still is hope on the services side, Schipper said.', '“Wages are one of the primary inputs into services, and those have been relatively stable and coming down nicely in the labor market,” he said. “', 'Hopefully that starts to put some calming pressure on services over the longer term.”', 'Additionally, grocery prices (categorized as “food at home” in the CPI report) were flat for the second month in a row and restaurant prices slowed 4.2% annually, the lowest rate since June 2021.', 'But even though food prices aren’t rocketing higher like they were, Americans are still feeling the pressure from rising prices for services-related businesses as well as at the gas pump.', 'It’s going to be a “slow, slow process” for inflation to get back to a place where consumers aren’t having to think about it in their daily lives, House said.', '“Prices are not going to revert to where they were, so the best we can look for is a moderation in the rate at which prices are going up,” she said. “', 'You see some stabilization in some key areas like the grocery store; but overall, you’re still going to see consumers bothered by the current price environment for some time.”', 'This story has been updated with additional developments and context.', 'It also corrects the date of the report, which was issued Wednesday.']",0.0215260451633802,"“Prices are not going to revert to where they were, so the best we can look for is a moderation in the rate at which prices are going up,” she said. “","However, supply chain pressures are building back up because of developments such as ongoing turmoil in the Red Sea, the Panama Canal’s drought, and the Key bridge collapse that blocked the Port of Baltimore.",0.2241469479742504,"Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates.","Following the report’s release, the markets’ probability of a June rate cut sank to 21%, down from 53% on Tuesday and 73% last month, according to the CME FedWatch tool.",2024-04-11 -Boom times for US green energy as federal cash flows in,https://www.bbc.co.uk/news/business-68667140,2024-04-08T23:03:36.000Z,"In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil. The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive. The second plant would add to its facility in Soperton, Georgia - the world's first commercial scale ethanol-to-SAF plant. ""We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place."" Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy. The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy. With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology. The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries. Consumers can also receive tax credits, for example for buying an EV or installing a heat pump. The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years). Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects. Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law. One company to benefit so far is EV battery recycling company Ascend Elements. It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""There is a clear sense that America has become more serious about transitioning to a cleaner economy."" While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments. According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits. The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long. But experts believe it is rising. Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data. Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023. The IRA has had two main positive effects thus far, says Mr Houser. It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries. It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser. But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA. On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections. Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within. The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties. Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm. The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL. For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this. It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet. Yet others argue the US can't afford not to take this path. And the point of the loans program is to take risks to help unlock new solutions that scale. ""It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm. More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more. Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""The US wasn't a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm. The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030. In the UK, chancellor Jeremy Hunt has made clear he isn't interested, nor can the UK afford to copy the IRA's approach in some ""distortive global subsidy race"" and will stick to other ways of helping. The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy. A global audience will be watching as the US's clean energy juggernaut unfolds. And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut. ",BBC,08/04/2024,"['In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil.', 'The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive.', 'The second plant would add to its facility in Soperton, Georgia - the world\'s first commercial scale ethanol-to-SAF plant. ""', 'We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""', 'Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.', 'The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy.', 'With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology.', 'The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries.', 'Consumers can also receive tax credits, for example for buying an EV or installing a heat pump.', 'The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years).', 'Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects.', 'Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.', 'One company to benefit so far is EV battery recycling company Ascend Elements.', 'It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[', 'The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""', 'There is a clear sense that America has become more serious about transitioning to a cleaner economy.""', 'While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider.', 'Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments.', 'According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits.', ""The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long."", 'But experts believe it is rising.', 'Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.', 'Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023.', 'The IRA has had two main positive effects thus far, says Mr Houser.', 'It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.', 'It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF.', 'While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser.', ""But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA."", ""On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections."", 'Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within.', 'The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.', 'Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""', 'A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm.', 'The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL.', ""For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this."", 'It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.', ""Yet others argue the US can't afford not to take this path."", 'And the point of the loans program is to take risks to help unlock new solutions that scale. ""', 'It would be failing if there weren\'t any so called \'failures\' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.', ""More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more."", 'Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""', 'The US wasn\'t a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm.', ""The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year."", ""It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030."", 'In the UK, chancellor Jeremy Hunt has made clear he isn\'t interested, nor can the UK afford to copy the IRA\'s approach in some ""distortive global subsidy race"" and will stick to other ways of helping.', 'The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy.', ""A global audience will be watching as the US's clean energy juggernaut unfolds."", ""And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.""]",0.3325934479260706,"And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.","It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.",0.3432436046146211,"Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.","But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA.",2024-04-11 -Apple sparks Palestinian flag emoji controversy,https://www.bbc.co.uk/news/technology-68778830,2024-04-10T15:12:08.000Z,"Apple has been criticised after the Palestinian flag emoji was automatically suggested to iPhone users who type ""Jerusalem."" Both Israel and the Palestinians hold competing claims to the ancient city. TV presenter Rachel Riley, who is Jewish, noted on social media that national flags were not suggested for other capitals. Apple has told the BBC that the change - which followed a recent software update - was not intentional. The issue will be remedied in a future software update, Apple says, but it is not known how rapidly this will happen. Writing on X (formerly Twitter), Ms Riley demanded that Apple explain what had happened. ""Showing double standards with respect to Israel is a form of antisemitism"", she argued. The issue, according to Apple, relates to a feature called predictive emoji. iPhones can suggest emojis when words are typed in messages, and other apps. The notes accompanying the latest iOS update say that it includes ""new emojis."" The status of Jerusalem is one of the thorniest disputes in the conflict between Israel and the Palestinians. Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state. East Jerusalem, along with the West Bank and Gaza Strip, were captured by Israel from Jordan and Egypt in a war in 1967, and have since been viewed internationally as occupied Palestinian territory. This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians. Last year rival tech giant Meta had to apologise after a bug resulted in it adding ""terrorist"" to the biographies of some Instagram users describing themselves as Palestinian. Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products. ",BBC,10/04/2024,"['Apple has been criticised after the Palestinian flag emoji was automatically suggested to iPhone users who type ""Jerusalem.""', 'Both Israel and the Palestinians hold competing claims to the ancient city.', 'TV presenter Rachel Riley, who is Jewish, noted on social media that national flags were not suggested for other capitals.', 'Apple has told the BBC that the change - which followed a recent software update - was not intentional.', 'The issue will be remedied in a future software update, Apple says, but it is not known how rapidly this will happen.', 'Writing on X (formerly Twitter), Ms Riley demanded that Apple explain what had happened. ""', 'Showing double standards with respect to Israel is a form of antisemitism"", she argued.', 'The issue, according to Apple, relates to a feature called predictive emoji.', 'iPhones can suggest emojis when words are typed in messages, and other apps.', 'The notes accompanying the latest iOS update say that it includes ""new emojis.""', 'The status of Jerusalem is one of the thorniest disputes in the conflict between Israel and the Palestinians.', 'Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state.', 'East Jerusalem, along with the West Bank and Gaza Strip, were captured by Israel from Jordan and Egypt in a war in 1967, and have since been viewed internationally as occupied Palestinian territory.', 'This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians.', 'Last year rival tech giant Meta had to apologise after a bug resulted in it adding ""terrorist"" to the biographies of some Instagram users describing themselves as Palestinian.', 'Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products.']",-0.1742546137985572,"Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state.",This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians.,-0.827385405699412,,"Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products.",2024-04-11 -Why there's a revolution on the way in glass making,https://www.bbc.co.uk/news/business-68429393,2024-04-01T23:03:38.000Z,"I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck. Despite being empty, it's heavy. I ask how much the bottle costs. ""About £270,"" I'm told. I hand the bottle back - very carefully. The bottle, designed for a rare whisky, is one of the creations of Stoelzle Flaconnage, based in Knottingley, West Yorkshire. Glassware has been made on this site since 1871. In 1994 the factory was taken over by Austria's Stoelzle Glass Group, which has focused the plant on making bottles for the spirits industry. It can handle the design, bottle making and decoration all on one site. Demand is strong, helped by the boom in gin making and demand for whisky in Asia. When I visit, the plant is busy, lumps of molten glass are dropping into dozens of moulds, the glass still glowing orange from the heat of the furnace. To stand out in a crowded market, customers want distinctive bottles, with patterned and sometimes coloured glass, elaborate labels and artwork. ""What our clients are looking for is to have their product presented in an outstanding - sometimes iconic - way,"" says Thomas Riss, chief executive of Stoelzle Flaconnage. While business is brisk, Stoelzle Flaconnage - and other glassmakers - are having to make some big decisions about the way they make glass containers. The European Union is cracking down on packaging waste. It wants packaging to be lighter so less material is needed and less fuel is needed for transportation. It has been working on the Packaging & Packaging Waste Regulation (PPWR), which is in the final stages of approval. Under the rules, member states would have to cut back on packaging weight and would have to introduce measures to meet targets. There is concern in the glass container industry that it will be unfairly targeted as glass is relatively heavy, compared with plastic or aluminium. ""Light doesn't mean sustainable,"" points out Vanessa Chesnot, from FEVE, the industry body which represents European glass container makers. ""Glass is 100% and infinitely recyclable... so, you can recycle a whisky bottle into another bottle, forever basically."" While it's true that glass recycling is an established process, making glass, even using recycled materials, is energy intensive. Most glass making involves burning natural gas to heat the raw materials in a furnace to 1,500C. Burning gas and heating the raw materials both produce CO2. The furnace I saw in action at Stoelzle Flaconnage uses about 191,000 kWh of energy per day - that's enough to supply the average UK household with energy for 12 years, the company says. It is considered a relatively small furnace; bigger plants would have furnaces twice the size. What's more, glass furnaces are never turned off, as it takes 12 days for a furnace to reach its operating temperature. Essentially a furnace will run all day, every day for its operational life - typically between ten and 12 years. So the glass industry is looking at switching from gas-fired furnaces to electricity. If the electricity comes from a sustainable source then the carbon footprint is slashed, which could go a long way to helping glass firms meet their goal to become net zero by 2050. Until recent years, running a furnace on electricity was considered too expensive. But electricity prices have become more competitive, so glass makers are looking at making the switch. Stoelzle Flaconnage, plans to have an electric furnace running in Knottingley by 2026. ""When I talked with my engineers, five years back, none of them would have ever come up with the idea of electric furnaces, because the mathematics didn't make sense. But this has changed now,"" says Mr Riss. However, electric furnaces might not be an option for companies that mass produce containers, like beer bottles. Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. ""For the time being it [electric furnace tech] is mainly being developed for niche markets or small furnaces producing high added value products,"" says FEVE's director of environment, health and safety, Fabrice Rivet. An extra challenge for electric glass furnaces is plugging them in. Connections to the electricity grid often have to be upgraded, to cope with the extra electricity supply. But the glass industry is attempting to clear some of those hurdles. In Obernkirchen, in northern Germany the world's most advanced hybrid glass furnace is undergoing trials, at Ardagh Glass Packaging (AGP). Partly funded by the German government and the EU, and made by Germany company Sorg, it is a large furnace with a capacity of 350 tonnes - enough to make about a million beer bottles a day. When fully operational it will run on 80% sustainable electricity and 20% gas, which AGP says will save 45,000 tonnes of CO2 per year. Engineers at AGP are giving the furnace the ultimate test - making amber-coloured glass, which involves tricky chemistry and is more difficult to control than making clear glass. ""There has been no successful demonstration of full-scale amber glass production in full electric melting. And if you wanted to combine the maximum of carbon footprint reduction with high cullet (recycled glass) and amber glass, then the hybrid is the logical choice,"" says Joris Goossens, research and development project manager at AGP. AGP says that once the hybrid furnace has proved itself, then the next step could be replacing the natural gas with hydrogen. Even if the industry does make the switch to electric or hybrid furnaces, it still has other problems to solve. The raw materials needed to make glass, including sand, soda ash and limestone, emit CO2 while they are being heated. They account for about 20% of the carbon emissions of the glass making process. The industry hopes that using more recycled glass in the production process will cut those emissions, but getting enough unwanted glass is a challenge. One academic who has studied the packaging industry says the answer might be just to use less glass. In a paper published in 2020, Alice Brock, a PhD researcher at Southampton University, compared the environmental impact of glass, plastic and aluminium containers and found that glass had the most detrimental impact on the environment. ""Even recycled glass has an incredibly high energy demand,"" she points out. ""The waste hierarchy is reduce, reuse, recycle. We should have less packaging, or we should be reusing packaging, or we should recycle if we have to,"" she says. More technology of business ",BBC,01/04/2024,"[""I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck."", ""Despite being empty, it's heavy."", 'I ask how much the bottle costs. ""', 'About £270,"" I\'m told.', 'I hand the bottle back - very carefully.', 'The bottle, designed for a rare whisky, is one of the creations of Stoelzle Flaconnage, based in Knottingley, West Yorkshire.', 'Glassware has been made on this site since 1871.', ""In 1994 the factory was taken over by Austria's Stoelzle Glass Group, which has focused the plant on making bottles for the spirits industry."", 'It can handle the design, bottle making and decoration all on one site.', 'Demand is strong, helped by the boom in gin making and demand for whisky in Asia.', 'When I visit, the plant is busy, lumps of molten glass are dropping into dozens of moulds, the glass still glowing orange from the heat of the furnace.', 'To stand out in a crowded market, customers want distinctive bottles, with patterned and sometimes coloured glass, elaborate labels and artwork. ""', 'What our clients are looking for is to have their product presented in an outstanding - sometimes iconic - way,"" says Thomas Riss, chief executive of Stoelzle Flaconnage.', 'While business is brisk, Stoelzle Flaconnage - and other glassmakers - are having to make some big decisions about the way they make glass containers.', 'The European Union is cracking down on packaging waste.', 'It wants packaging to be lighter so less material is needed and less fuel is needed for transportation.', 'It has been working on the Packaging & Packaging Waste Regulation (PPWR), which is in the final stages of approval.', 'Under the rules, member states would have to cut back on packaging weight and would have to introduce measures to meet targets.', 'There is concern in the glass container industry that it will be unfairly targeted as glass is relatively heavy, compared with plastic or aluminium. ""', 'Light doesn\'t mean sustainable,"" points out Vanessa Chesnot, from FEVE, the industry body which represents European glass container makers. ""', 'Glass is 100% and infinitely recyclable... so, you can recycle a whisky bottle into another bottle, forever basically.""', ""While it's true that glass recycling is an established process, making glass, even using recycled materials, is energy intensive."", 'Most glass making involves burning natural gas to heat the raw materials in a furnace to 1,500C. Burning gas and heating the raw materials both produce CO2.', ""The furnace I saw in action at Stoelzle Flaconnage uses about 191,000 kWh of energy per day - that's enough to supply the average UK household with energy for 12 years, the company says."", 'It is considered a relatively small furnace; bigger plants would have furnaces twice the size.', ""What's more, glass furnaces are never turned off, as it takes 12 days for a furnace to reach its operating temperature."", 'Essentially a furnace will run all day, every day for its operational life - typically between ten and 12 years.', 'So the glass industry is looking at switching from gas-fired furnaces to electricity.', 'If the electricity comes from a sustainable source then the carbon footprint is slashed, which could go a long way to helping glass firms meet their goal to become net zero by 2050.', 'Until recent years, running a furnace on electricity was considered too expensive.', 'But electricity prices have become more competitive, so glass makers are looking at making the switch.', 'Stoelzle Flaconnage, plans to have an electric furnace running in Knottingley by 2026. ""', ""When I talked with my engineers, five years back, none of them would have ever come up with the idea of electric furnaces, because the mathematics didn't make sense."", 'But this has changed now,"" says Mr Riss.', 'However, electric furnaces might not be an option for companies that mass produce containers, like beer bottles.', 'Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. ""', 'For the time being it [electric furnace tech] is mainly being developed for niche markets or small furnaces producing high added value products,"" says FEVE\'s director of environment, health and safety, Fabrice Rivet.', 'An extra challenge for electric glass furnaces is plugging them in.', 'Connections to the electricity grid often have to be upgraded, to cope with the extra electricity supply.', 'But the glass industry is attempting to clear some of those hurdles.', ""In Obernkirchen, in northern Germany the world's most advanced hybrid glass furnace is undergoing trials, at Ardagh Glass Packaging (AGP)."", 'Partly funded by the German government and the EU, and made by Germany company Sorg, it is a large furnace with a capacity of 350 tonnes - enough to make about a million beer bottles a day.', 'When fully operational it will run on 80% sustainable electricity and 20% gas, which AGP says will save 45,000 tonnes of CO2 per year.', 'Engineers at AGP are giving the furnace the ultimate test - making amber-coloured glass, which involves tricky chemistry and is more difficult to control than making clear glass. ""', 'There has been no successful demonstration of full-scale amber glass production in full electric melting.', 'And if you wanted to combine the maximum of carbon footprint reduction with high cullet (recycled glass) and amber glass, then the hybrid is the logical choice,"" says Joris Goossens, research and development project manager at AGP.', 'AGP says that once the hybrid furnace has proved itself, then the next step could be replacing the natural gas with hydrogen.', 'Even if the industry does make the switch to electric or hybrid furnaces, it still has other problems to solve.', 'The raw materials needed to make glass, including sand, soda ash and limestone, emit CO2 while they are being heated.', 'They account for about 20% of the carbon emissions of the glass making process.', 'The industry hopes that using more recycled glass in the production process will cut those emissions, but getting enough unwanted glass is a challenge.', 'One academic who has studied the packaging industry says the answer might be just to use less glass.', 'In a paper published in 2020, Alice Brock, a PhD researcher at Southampton University, compared the environmental impact of glass, plastic and aluminium containers and found that glass had the most detrimental impact on the environment. ""', 'Even recycled glass has an incredibly high energy demand,"" she points out. ""', 'The waste hierarchy is reduce, reuse, recycle.', 'We should have less packaging, or we should be reusing packaging, or we should recycle if we have to,"" she says.', 'More technology of business']",0.1202638344950185,I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck.,So the glass industry is looking at switching from gas-fired furnaces to electricity.,0.451889619231224,"Demand is strong, helped by the boom in gin making and demand for whisky in Asia.","Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. """,2024-04-11 -Paralympians urge Nike to allow single shoe sales,https://www.bbc.co.uk/news/newsbeat-68739752,2024-04-11T10:08:25.000Z,"A Paralympian has criticised Nike for using amputee mannequins to promote its products when it doesn't sell single trainers. Stef Reid, a single-leg amputee, said she was only able to buy the company's running shoes in pairs. She told BBC Newsbeat companies that portray ""an image of diversity and inclusion"" should back it with action. Nike thanked her for raising the issue and said it was ""exploring opportunities"". It added that it hoped to learn from its One Shoe Bank programme, currently only available in the US. The scheme provides single-leg amputees with one free trainer each year free of charge. Stef, who has competed at Beijing 2008, London 2012 and Rio 2016, lost part of her right leg in an accident when she was a teenager. After spotting a pair of Nike trainers in one of the brand's own stores, Stef, who has competed for Great Britain, says she was told she had to buy both shoes. When Stef explained her situation, and pointed out that the shop was using one-blade, one-shoe mannequins, she says she was offered ""a one-time discount"". The retired athlete says she has ""no problem paying"" for her hobby, but can't understand why she's paying for a product when she has to ""chuck the other half out"". ""I'm still only going to have one foot, so this isn't a solution. And it's bigger than me,"" she says. Stef says she doesn't want ""a one-time solution"", but wants to be heard. ""This isn't just about me. They said they were going to take it to higher up. ""I just want a conversation with Nike."" British Paralympic athlete Sophie Kamlish also feels ""companies should do more"". ""Nike are using the image of inclusion, which is really cool. You wouldn't have seen that a few years ago, but they're not being as helpful when it comes to buying one shoe,"" the 27-year-old tells Newsbeat. Sprinter Sophie has competed in T44 events and represented Great Britain at London 2012 and Rio 2016. ""It's irritating and annoying because I've got these perfectly good shoes just hanging around my house that I have to throw in the bin, or not use at all,"" she says. Sophie, who lives in Bath, says she's ""been very lucky"" to find a shoe-swap partner with someone who had an opposite side amputation. ""But it's quite a rarity to be able to find that sole-mate,"" she says. Josephine Bridges, founder of charity Positive Bones, adds that one-shoe could benefit everyone, including people who aren't amputees. ""There are people who have shoe sizes that are slightly different on each foot. And so if we're able to buy one shoe, there's a real benefit there. ""Sometimes you have one shoe that wears out much faster than the other. ""It could mean that people could be less wasteful by getting that one shoe replacement."" Josephine had her amputation in 2018, and agrees ""more representation"" is a good thing. But when it's not followed up with actions, ""it can it can kind of cut a bit in the gut,"" she says. Stef feels it's not a case of companies being ""intentionally non-inclusive"", but more a case of ""nobody's asked the question"". ""Often I think it's an oversight,"" she says. ""I don't have an expectation that every company is going to cater to me as an amputee, at a financial loss to them. ""But diverse and inclusive thinking can lead to a better way of doing business."" In a TikTok video, Stef, who won T44 bronze in 2008 when previously representing Canada, also spoke about other companies - Decathlon and Brooks Running - having similar policies. Brooks told Newsbeat it's ""a brand that believes in the power of a diverse running community"" and was ""looking into solutions to fill"" requests for single shoes. Decathlon has not yet responded to Newsbeat's request for comment. Listen to Newsbeat live at 12:45 and 17:45 weekdays - or listen back here. ",BBC,11/04/2024,"[""A Paralympian has criticised Nike for using amputee mannequins to promote its products when it doesn't sell single trainers."", ""Stef Reid, a single-leg amputee, said she was only able to buy the company's running shoes in pairs."", 'She told BBC Newsbeat companies that portray ""an image of diversity and inclusion"" should back it with action.', 'Nike thanked her for raising the issue and said it was ""exploring opportunities"".', 'It added that it hoped to learn from its One Shoe Bank programme, currently only available in the US.', 'The scheme provides single-leg amputees with one free trainer each year free of charge.', 'Stef, who has competed at Beijing 2008, London 2012 and Rio 2016, lost part of her right leg in an accident when she was a teenager.', ""After spotting a pair of Nike trainers in one of the brand's own stores, Stef, who has competed for Great Britain, says she was told she had to buy both shoes."", 'When Stef explained her situation, and pointed out that the shop was using one-blade, one-shoe mannequins, she says she was offered ""a one-time discount"".', 'The retired athlete says she has ""no problem paying"" for her hobby, but can\'t understand why she\'s paying for a product when she has to ""chuck the other half out"". ""', ""I'm still only going to have one foot, so this isn't a solution."", 'And it\'s bigger than me,"" she says.', 'Stef says she doesn\'t want ""a one-time solution"", but wants to be heard. ""', ""This isn't just about me."", 'They said they were going to take it to higher up. ""', 'I just want a conversation with Nike.""', 'British Paralympic athlete Sophie Kamlish also feels ""companies should do more"". ""', 'Nike are using the image of inclusion, which is really cool.', 'You wouldn\'t have seen that a few years ago, but they\'re not being as helpful when it comes to buying one shoe,"" the 27-year-old tells Newsbeat.', 'Sprinter Sophie has competed in T44 events and represented Great Britain at London 2012 and Rio 2016. ""', 'It\'s irritating and annoying because I\'ve got these perfectly good shoes just hanging around my house that I have to throw in the bin, or not use at all,"" she says.', 'Sophie, who lives in Bath, says she\'s ""been very lucky"" to find a shoe-swap partner with someone who had an opposite side amputation. ""', 'But it\'s quite a rarity to be able to find that sole-mate,"" she says.', 'Josephine Bridges, founder of charity Positive Bones, adds that one-shoe could benefit everyone, including people who aren\'t amputees. ""', 'There are people who have shoe sizes that are slightly different on each foot.', 'And so if we\'re able to buy one shoe, there\'s a real benefit there. ""', 'Sometimes you have one shoe that wears out much faster than the other. ""', 'It could mean that people could be less wasteful by getting that one shoe replacement.""', 'Josephine had her amputation in 2018, and agrees ""more representation"" is a good thing.', 'But when it\'s not followed up with actions, ""it can it can kind of cut a bit in the gut,"" she says.', 'Stef feels it\'s not a case of companies being ""intentionally non-inclusive"", but more a case of ""nobody\'s asked the question"". ""', 'Often I think it\'s an oversight,"" she says. ""', 'I don\'t have an expectation that every company is going to cater to me as an amputee, at a financial loss to them. ""', 'But diverse and inclusive thinking can lead to a better way of doing business.""', 'In a TikTok video, Stef, who won T44 bronze in 2008 when previously representing Canada, also spoke about other companies - Decathlon and Brooks Running - having similar policies.', 'Brooks told Newsbeat it\'s ""a brand that believes in the power of a diverse running community"" and was ""looking into solutions to fill"" requests for single shoes.', ""Decathlon has not yet responded to Newsbeat's request for comment."", 'Listen to Newsbeat live at 12:45 and 17:45 weekdays - or listen back here.']",0.1763248509767725,"Josephine Bridges, founder of charity Positive Bones, adds that one-shoe could benefit everyone, including people who aren't amputees. ""","Stef, who has competed at Beijing 2008, London 2012 and Rio 2016, lost part of her right leg in an accident when she was a teenager.",0.2441350519657135,"And so if we're able to buy one shoe, there's a real benefit there. ""","You wouldn't have seen that a few years ago, but they're not being as helpful when it comes to buying one shoe,"" the 27-year-old tells Newsbeat.",2024-04-11 -Spain to axe 'golden visas' scheme,https://www.bbc.co.uk/news/world-europe-68761491,2024-04-09T14:32:42.000Z,"The Spanish government has begun the process of eliminating the so-called ""golden visa"" scheme. Under the scheme, foreign investors are provided with fast-tracked residency. At a Cabinet meeting on Tuesday, ministers agreed to end the awarding of the visa, which can be obtained in exchange for buying property worth €500,000 (£428,000) or more. The visa scheme was created in 2013 by the conservative government of Mariano Rajoy. It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard. A total of 6,200 visas were issued until 2023 for investment in property, according to the organisation Transparency International, although other sources put the number higher. Nearly half of beneficiaries of Spain's Golden Visa - a total of 2,712 - were Chinese, according to Transparency International. Russians were the next most numerous recipients, with 1,159, followed by Iranians (203), and citizens of the US (179) and the UK (177). The ""golden visa"" scheme also provided residency in exchange for investing €2m (£1.7m) or more in state bonds, or for investing in emerging Spanish companies. However, only 6% of visas were awarded for reasons other than the purchase of property, the government said. Prime Minister Pedro Sánchez said his government's intention to scrap the scheme was intended ""to guarantee that housing is a right and not merely the subject of business speculation"". He said that the majority of visas awarded were linked to the purchase of properties in places such as Madrid, Barcelona, Valencia, Málaga, Alicante and the Balearic Islands - all areas where the housing market ""is under enormous pressure and where it is almost impossible for people who live and work in those places and pay their taxes each day to find affordable housing"". Some areas of the country have been particularly affected by rising rents, such as Ibiza, in the Balearic Islands. Last year, the government introduced a housing law which aimed to cap rental increases in areas where they have been spiralling. Mr Sánchez's left-wing allies in his coalition government had been calling for an end to the visa system. However, critics say that its elimination will not improve matters. ""The problem with housing in Spain, both in terms of sales and rental, is not caused by the Golden Visa, but rather by the increasing lack of supply [of housing] and the accelerating growth in demand,"" said Francisco Iñareta, of the Idealista property portal. However, pressure has also come from outside Spain, with the European Commission calling on EU members to clamp down on such schemes, in great part because of security concerns, especially since Russia's invasion of Ukraine. In 2022, the UK government ended a scheme allowing wealthy foreign nationals to settle in the country if they brought assets with them. The following year, Ireland scrapped its Golden Visa, while Portugal revised its own version of it, no longer allowing residency in exchange for property purchases. ",BBC,09/04/2024,"['The Spanish government has begun the process of eliminating the so-called ""golden visa"" scheme.', 'Under the scheme, foreign investors are provided with fast-tracked residency.', 'At a Cabinet meeting on Tuesday, ministers agreed to end the awarding of the visa, which can be obtained in exchange for buying property worth €500,000 (£428,000) or more.', 'The visa scheme was created in 2013 by the conservative government of Mariano Rajoy.', ""It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard."", 'A total of 6,200 visas were issued until 2023 for investment in property, according to the organisation Transparency International, although other sources put the number higher.', ""Nearly half of beneficiaries of Spain's Golden Visa - a total of 2,712 - were Chinese, according to Transparency International."", 'Russians were the next most numerous recipients, with 1,159, followed by Iranians (203), and citizens of the US (179) and the UK (177).', 'The ""golden visa"" scheme also provided residency in exchange for investing €2m (£1.7m) or more in state bonds, or for investing in emerging Spanish companies.', 'However, only 6% of visas were awarded for reasons other than the purchase of property, the government said.', 'Prime Minister Pedro Sánchez said his government\'s intention to scrap the scheme was intended ""to guarantee that housing is a right and not merely the subject of business speculation"".', 'He said that the majority of visas awarded were linked to the purchase of properties in places such as Madrid, Barcelona, Valencia, Málaga, Alicante and the Balearic Islands - all areas where the housing market ""is under enormous pressure and where it is almost impossible for people who live and work in those places and pay their taxes each day to find affordable housing"".', 'Some areas of the country have been particularly affected by rising rents, such as Ibiza, in the Balearic Islands.', 'Last year, the government introduced a housing law which aimed to cap rental increases in areas where they have been spiralling.', ""Mr Sánchez's left-wing allies in his coalition government had been calling for an end to the visa system."", 'However, critics say that its elimination will not improve matters. ""', 'The problem with housing in Spain, both in terms of sales and rental, is not caused by the Golden Visa, but rather by the increasing lack of supply [of housing] and the accelerating growth in demand,"" said Francisco Iñareta, of the Idealista property portal.', ""However, pressure has also come from outside Spain, with the European Commission calling on EU members to clamp down on such schemes, in great part because of security concerns, especially since Russia's invasion of Ukraine."", 'In 2022, the UK government ended a scheme allowing wealthy foreign nationals to settle in the country if they brought assets with them.', 'The following year, Ireland scrapped its Golden Visa, while Portugal revised its own version of it, no longer allowing residency in exchange for property purchases.']",0.0564440552613411,"At a Cabinet meeting on Tuesday, ministers agreed to end the awarding of the visa, which can be obtained in exchange for buying property worth €500,000 (£428,000) or more.","It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard.",-0.6073799530665079,"It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard.","Some areas of the country have been particularly affected by rising rents, such as Ibiza, in the Balearic Islands.",2024-04-11 -HSBC agrees to sell off its Argentina business,https://www.bbc.co.uk/news/world-latin-america-68775630,2024-04-09T20:32:37.000Z,"Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate. HSBC Argentina, which has more than 100 branches and 3,100 employees, will be bought by Grupo Financiero Galicia, a major private financial group. Annual inflation in Argentina hit 276.2% last month, the highest in the world. Five years ago, $1 would buy 43 pesos. It is now worth more than 860 pesos. HSBC has been in Argentina since 1997, when it took full control of the local Banco Roberts and renamed it. That same year, it established itself in neighbouring Brazil by taking over the ailing Bamerindus bank, leading some observers to speak of its ""relentless march into Latin America"". HSBC still holds on in Brazil, but purely as an investment bank: it sold its retail banking operation there in 2015. Other operations elsewhere in the world have been sold off in recent years as the London-based bank has pivoted to focus more on faster-growing markets in Asia. HSBC said the sale of its Argentine business, for $550m, will see it book a $1bn loss in its first-quarter results this year. The size of the loss could vary for several reasons, including ""associated hyperinflation and foreign currency translation"", HSBC said on Tuesday. Over the next 12 months, the business will also recognise $4.9bn in losses from historical currency translation reserves. This refers to the loss that is racked up by translating the financial performance of the Argentine business, which is counted in pesos, on to HSBC's overall balance sheet, which is counted in US dollars. ""These reserve losses have accumulated over many years and arise from the cumulative translation of the Argentinian peso-denominated book value of HSBC Argentina into US dollars,"" HSBC said. In 2023 alone, these losses grew by $1.8bn, the bank added. The exact losses may well change between now and when the sale goes through, because the exchange rate is constantly changing. HSBC chief executive Noel Quinn said: ""We are pleased to agree the sale of HSBC Argentina. ""This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher-value opportunities across our international network. ""HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. ""Furthermore, given its size, it also generates substantial earnings volatility for the group when its results are translated into US dollars. Galicia is better placed to invest in and grow the business."" ",BBC,09/04/2024,"[""Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate."", 'HSBC Argentina, which has more than 100 branches and 3,100 employees, will be bought by Grupo Financiero Galicia, a major private financial group.', 'Annual inflation in Argentina hit 276.2% last month, the highest in the world.', 'Five years ago, $1 would buy 43 pesos.', 'It is now worth more than 860 pesos.', 'HSBC has been in Argentina since 1997, when it took full control of the local Banco Roberts and renamed it.', 'That same year, it established itself in neighbouring Brazil by taking over the ailing Bamerindus bank, leading some observers to speak of its ""relentless march into Latin America"".', 'HSBC still holds on in Brazil, but purely as an investment bank: it sold its retail banking operation there in 2015.', 'Other operations elsewhere in the world have been sold off in recent years as the London-based bank has pivoted to focus more on faster-growing markets in Asia.', 'HSBC said the sale of its Argentine business, for $550m, will see it book a $1bn loss in its first-quarter results this year.', 'The size of the loss could vary for several reasons, including ""associated hyperinflation and foreign currency translation"", HSBC said on Tuesday.', 'Over the next 12 months, the business will also recognise $4.9bn in losses from historical currency translation reserves.', 'This refers to the loss that is racked up by translating the financial performance of the Argentine business, which is counted in pesos, on to HSBC\'s overall balance sheet, which is counted in US dollars. ""', 'These reserve losses have accumulated over many years and arise from the cumulative translation of the Argentinian peso-denominated book value of HSBC Argentina into US dollars,"" HSBC said.', 'In 2023 alone, these losses grew by $1.8bn, the bank added.', 'The exact losses may well change between now and when the sale goes through, because the exchange rate is constantly changing.', 'HSBC chief executive Noel Quinn said: ""We are pleased to agree the sale of HSBC Argentina. ""', 'This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher-value opportunities across our international network. ""', 'HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. ""', 'Furthermore, given its size, it also generates substantial earnings volatility for the group when its results are translated into US dollars.', 'Galicia is better placed to invest in and grow the business.""']",-0.0110423732267407,"This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher-value opportunities across our international network. """,Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate.,-0.2261015635270338,"HSBC chief executive Noel Quinn said: ""We are pleased to agree the sale of HSBC Argentina. """,Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate.,2024-04-11 -Sub-postmistress jailed while pregnant rejects ex-Post Office boss' apology,https://www.bbc.co.uk/news/business-68787990,2024-04-11T12:21:07.000Z,"A former sub-postmistress who was wrongly jailed while she was pregnant has rejected an apology by a former Post Office boss who congratulated the team behind her conviction. ""Brilliant news. Well done,"" wrote then managing director David Smith in an email to colleagues in 2010. Seema Misra was eight weeks pregnant with her second child when she was sentenced to 15 months in prison. Mr Smith apologised to Mrs Misra at the inquiry into the Post Office scandal. He said that in hindsight, his email following her conviction was ""poorly thought through"". But following Thursday's evidence, Mrs Misra told the BBC: ""How can I accept the apology? They need to apologise to my 10 year old, they took his mum away on his birthday. ""I was eight weeks pregnant - they need to apologise to my youngest son. It was terrible. I haven't accepted the apologies."" Mrs Misra was sent to Bronzefield prison on the day of her eldest son's 10th birthday after being wrongly convicted of stealing £70,000 from her Post Office branch in the village of West Byfleet in Surrey. She served four-and-a-half months and gave birth to her second son wearing an electronic tag. She told the BBC that she had seen Mr Smith's email before. ""Seeing it again makes me more and more angry,"" she added. Mrs Misra was one of more than 700 sub-postmasters and postmistresses prosecuted between 1999 and 2015 for theft and false accounting after a faulty computer system called Horizon made it look like money was missing from their branches. Some, like Mrs Misra, were convicted and sent to prison. Many others were left financially ruined and lost their jobs, businesses and homes. Some died while waiting for justice. Hundreds of people wrongly convicted are set to have their names cleared under new legislation expected to come into force in July, but when it comes to financial redress, just 37 people have received full and final compensation settlements to date. Mr Smith was managing director of the Post Office from April to October 2010. His brief stint in charge was prior to Paula Vennells - who was heavily depicted in the ITV drama which thrust the scandal back into the spotlight - taking up the role as chief executive from 2012 to 2019. In his witness statement to the public inquiry, Mr Smith said his email following Mrs Misra's conviction was ""intended to be a congratulatory"" to the legal team. ""Brilliant news. Well done. Please pass on my thanks to the team,"" said Mr Smith's 2010 email. Asked by Sam Stevens, counsel to the inquiry, on Thursday why Mrs Misra's conviction was ""brilliant news"", Mr Smith replied: ""I would just like to place on record an apology to Seema Misra and family because of the way this has been perceived and portrayed subsequently. ""Looking at it through their eyes rather than through mine you can see that it may have caused substantial upset and I really do apologise for that."" Mr Smith said his email to the legal team was ""thank you for all your hard work. It's terrific that you got the result you got and I'm really happy that we have progressed"". ""It's nothing more or less than that,"" he added, but admitted: ""In the benefit of hindsight and looking through the 2024 lens and not the 2010 lens, at best, from Seema's perspective, you can see this is really poorly thought through."" The former managing director said Mrs Misra's conviction, which has since been overturned, was seen as a ""test"" of the Horizon system, which the organisation believed was ""tamper proof"". Mr Smith denied having knowledge of a Horizon bug before the trial of the subpostmistress in 2010, and said he was ""shocked and frankly appalled"" at claims the Post Office knew of faults in the IT system while prosecuting Mrs Misra. Mr Smith also rejected claims that an investigation commissioned - known as the Ismay report - into the computer system's integrity was a cover up. The essence of the report, produced by Rod Ismay who worked in finance at the Post Office in 2010, was that there were no fundamental problems with Horizon. In May last year, Mr Ismay told the inquiry he agreed with the suggestion he was asked to ""present one side of the coin"", rather than carry out a full investigation. Mr Smith denied the report was intended as a ""counter-argument"" to allegations against Horizon, but accepted in his witness statement that in hindsight he should have commissioned a full, independent probe. ""At the time we were repeatedly given reassurance that the system was robust,"" said Mr Smith. Former Post Office chairman Sir Michael Hodgkinson also apologised to sub-postmasters on Thursday. Sir Michael, who was chairman from 2003 to 2007 admitted to the inquiry he ""didn't do anything"" to check if the business was prosecuting its own people properly. ",BBC,11/04/2024,"['A former sub-postmistress who was wrongly jailed while she was pregnant has rejected an apology by a former Post Office boss who congratulated the team behind her conviction. ""', 'Brilliant news.', 'Well done,"" wrote then managing director David Smith in an email to colleagues in 2010.', 'Seema Misra was eight weeks pregnant with her second child when she was sentenced to 15 months in prison.', 'Mr Smith apologised to Mrs Misra at the inquiry into the Post Office scandal.', 'He said that in hindsight, his email following her conviction was ""poorly thought through"".', 'But following Thursday\'s evidence, Mrs Misra told the BBC: ""How can I accept the apology?', 'They need to apologise to my 10 year old, they took his mum away on his birthday. ""', 'I was eight weeks pregnant - they need to apologise to my youngest son.', 'It was terrible.', 'I haven\'t accepted the apologies.""', ""Mrs Misra was sent to Bronzefield prison on the day of her eldest son's 10th birthday after being wrongly convicted of stealing £70,000 from her Post Office branch in the village of West Byfleet in Surrey."", 'She served four-and-a-half months and gave birth to her second son wearing an electronic tag.', 'She told the BBC that she had seen Mr Smith\'s email before. ""', 'Seeing it again makes me more and more angry,"" she added.', 'Mrs Misra was one of more than 700 sub-postmasters and postmistresses prosecuted between 1999 and 2015 for theft and false accounting after a faulty computer system called Horizon made it look like money was missing from their branches.', 'Some, like Mrs Misra, were convicted and sent to prison.', 'Many others were left financially ruined and lost their jobs, businesses and homes.', 'Some died while waiting for justice.', 'Hundreds of people wrongly convicted are set to have their names cleared under new legislation expected to come into force in July, but when it comes to financial redress, just 37 people have received full and final compensation settlements to date.', 'Mr Smith was managing director of the Post Office from April to October 2010.', 'His brief stint in charge was prior to Paula Vennells - who was heavily depicted in the ITV drama which thrust the scandal back into the spotlight - taking up the role as chief executive from 2012 to 2019.', 'In his witness statement to the public inquiry, Mr Smith said his email following Mrs Misra\'s conviction was ""intended to be a congratulatory"" to the legal team. ""', 'Brilliant news.', 'Well done.', 'Please pass on my thanks to the team,"" said Mr Smith\'s 2010 email.', 'Asked by Sam Stevens, counsel to the inquiry, on Thursday why Mrs Misra\'s conviction was ""brilliant news"", Mr Smith replied: ""I would just like to place on record an apology to Seema Misra and family because of the way this has been perceived and portrayed subsequently. ""', 'Looking at it through their eyes rather than through mine you can see that it may have caused substantial upset and I really do apologise for that.""', 'Mr Smith said his email to the legal team was ""thank you for all your hard work.', 'It\'s terrific that you got the result you got and I\'m really happy that we have progressed"". ""', 'It\'s nothing more or less than that,"" he added, but admitted: ""In the benefit of hindsight and looking through the 2024 lens and not the 2010 lens, at best, from Seema\'s perspective, you can see this is really poorly thought through.""', 'The former managing director said Mrs Misra\'s conviction, which has since been overturned, was seen as a ""test"" of the Horizon system, which the organisation believed was ""tamper proof"".', 'Mr Smith denied having knowledge of a Horizon bug before the trial of the subpostmistress in 2010, and said he was ""shocked and frankly appalled"" at claims the Post Office knew of faults in the IT system while prosecuting Mrs Misra.', ""Mr Smith also rejected claims that an investigation commissioned - known as the Ismay report - into the computer system's integrity was a cover up."", 'The essence of the report, produced by Rod Ismay who worked in finance at the Post Office in 2010, was that there were no fundamental problems with Horizon.', 'In May last year, Mr Ismay told the inquiry he agreed with the suggestion he was asked to ""present one side of the coin"", rather than carry out a full investigation.', 'Mr Smith denied the report was intended as a ""counter-argument"" to allegations against Horizon, but accepted in his witness statement that in hindsight he should have commissioned a full, independent probe. ""', 'At the time we were repeatedly given reassurance that the system was robust,"" said Mr Smith.', 'Former Post Office chairman Sir Michael Hodgkinson also apologised to sub-postmasters on Thursday.', 'Sir Michael, who was chairman from 2003 to 2007 admitted to the inquiry he ""didn\'t do anything"" to check if the business was prosecuting its own people properly.']",0.0172073041939295,"It's nothing more or less than that,"" he added, but admitted: ""In the benefit of hindsight and looking through the 2024 lens and not the 2010 lens, at best, from Seema's perspective, you can see this is really poorly thought through.""","Mr Smith denied having knowledge of a Horizon bug before the trial of the subpostmistress in 2010, and said he was ""shocked and frankly appalled"" at claims the Post Office knew of faults in the IT system while prosecuting Mrs Misra.",-0.4819047771967374,"It's terrific that you got the result you got and I'm really happy that we have progressed"". ""","He said that in hindsight, his email following her conviction was ""poorly thought through"".",2024-04-11 -The rise of magnets – from surgery to outer space,https://www.bbc.co.uk/news/business-68629800,2024-04-04T23:09:15.000Z,"The tiny, tweezer-like set of metal jaws was in place. Gently gripping the patient's gall bladder. But the grasping device was not physically connected to anything - it appeared to be levitating inside the person's body. In reality, the jaws were being controlled remotely by a robot arm wielding a special magnet. ""We could see the critical structures, the blood vessels,"" says Dr Matthew Kroh of the Cleveland Clinic in Ohio. It wasn't long before he had removed the troublesome gall bladder with the help of his robotic assistant. This was one of two dozen or so similar surgeries he and his team have performed in recent months using their high-tech system. ""It allows us to do a very common operation in a less invasive way,"" he says, explaining that fewer incisions are now required for procedures such as this. But there are many other emerging applications that also use carefully manufactured magnets. Permanent magnets, the kind that keep colourful souvenirs stuck to the door of your fridge, might seem a fairly mature, well-established technology. They've been used for centuries, after all. And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before. This is because, increasingly, magnets are used in all kinds of ascendant technologies - including EV motors and wind turbines. They are, therefore, crucial for electrification. However, magnets are generally made using rare earth elements, the products of dirty mining operations. And, at present, China massively dominates global permanent magnet production, with more than 90% market share. Many argue that we need cleaner and more widely distributed magnet manufacturing facilities. The future, they say, depends on it. ""My job is brilliant,"" says Matthew Swallow, technical product manager for Bunting Magnetics in the UK. ""Nobody else, I don't think, gets involved in so many things."" His firm makes magnets that are used in all kinds of systems - from cochlear implants, to emergency brakes on rollercoasters, including at Alton Towers. Bunting Magnetics has even supplied magnets to Nasa. Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved. For such magnets designed to cope with temperatures up to 200C, a grade of N35 used to be the maximum. But now N52 grade versions are commercially available. ""You can literally make the magnet 60% less massive and get the same level of performance,"" explains Mr Swallow. In an electric motor, a magnetic field helps an internal coil to spin. This might be used to drive an axle and turn the wheels of an electric car, for example. Higher grade magnets mean motors that run more efficiently and cars that weigh slightly less overall. The careful addition of a small amount of dysprosium, another rare earth element, is one way to improve a magnet's efficiency. One reason why China dominates global production of these magnets is financial incentives, says Ross Embleton, senior analyst for metals & mining - rare earths at Wood Mackenzie. Rare earth permanent magnet material is subject to a 13% VAT discount on export from the country, and provincial governments give support on energy costs, for example, which also helps buoy up magnet-making facilities. ""It's a really, really challenging industry to compete in if you're outside of China,"" says Mr Embleton. That hasn't stopped some from trying. US firm Niron Magnetics says it has managed to make good quality magnets without rare earths. Instead, they use iron and nitrogen to make iron nitride magnets. This relies on getting the iron nitride to take on a specific crystalline structure, which generates magnetic fields. Chief executive Jonathan Rowntree declines to explain his company's production techniques in detail, but he says Niron has already produced working magnets. The first of these will be used in speakers. Magnetic field strength is measured in terms of teslas, and Niron's magnets are currently at one tesla. Mr Rowntree says it should be possible to make significantly more powerful magnets, up to 2.4 teslas, with iron nitride. Alternatively, recycling magnets would also be much better for the environment compared with making new rare earth magnets from scratch. In the UK, the University of Birmingham has developed a method for extracting rare earth alloys from old electric motors and computer hard drives, for example. A spin out company, HyProMag, has now successfully extracted rare earths using the technology, and aims to begin commercial production of magnets using such material later this year. Meanwhile, US firm Noveon Magnetics says it has developed its own method for magnet recycling. When asked about the process, and the grades of magnets produced, chief commercial officer Peter Afiuny declined to go into details, except to say that a small amount of alloy is mixed with recovered material to achieve the desired result. The whole process is about 40% more efficient than traditional virgin magnet production. It can be difficult to know the quality of an old magnet from a disused consumer electronics device, however, says Mr Embleton. And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove. But gradually, as early generations of EV motors and wind turbines reach the end of their lifespans in the coming years, more magnetic material is expected to become available for recycling. ""There's a bit of a delay there waiting for that material to come back again,"" says Mr Embleton. Companies have an opportunity to perfect their recycling processes in the meantime. More technology of business Niron's targeting of the audio speakers market is interesting, says Nicola Morley at the University of Sheffield. ""It means they think they can produce them cheaply - that market has other cheap permanent magnets in it,"" she explains. Within the last decade, the development of magnet technology has really begun to accelerate, adds Prof Morley. And Mr Swallow cites other emerging applications that sound quite sci-fi - including magnets mounted on satellites to scoop up space debris orbiting Earth. Dr Kroh says he is looking forward to even more sophisticated magnets that will make other surgeries less invasive than before. Chest surgery involving the lungs, or endoscopies, for instance, could one day be performed with the help of such technology. ""It's almost limitless,"" he says. ""This is just the beginning."" ",BBC,04/04/2024,"['The tiny, tweezer-like set of metal jaws was in place.', ""Gently gripping the patient's gall bladder."", ""But the grasping device was not physically connected to anything - it appeared to be levitating inside the person's body."", 'In reality, the jaws were being controlled remotely by a robot arm wielding a special magnet. ""', 'We could see the critical structures, the blood vessels,"" says Dr Matthew Kroh of the Cleveland Clinic in Ohio.', ""It wasn't long before he had removed the troublesome gall bladder with the help of his robotic assistant."", 'This was one of two dozen or so similar surgeries he and his team have performed in recent months using their high-tech system. ""', 'It allows us to do a very common operation in a less invasive way,"" he says, explaining that fewer incisions are now required for procedures such as this.', 'But there are many other emerging applications that also use carefully manufactured magnets.', 'Permanent magnets, the kind that keep colourful souvenirs stuck to the door of your fridge, might seem a fairly mature, well-established technology.', ""They've been used for centuries, after all."", 'And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before.', 'This is because, increasingly, magnets are used in all kinds of ascendant technologies - including EV motors and wind turbines.', 'They are, therefore, crucial for electrification.', 'However, magnets are generally made using rare earth elements, the products of dirty mining operations.', 'And, at present, China massively dominates global permanent magnet production, with more than 90% market share.', 'Many argue that we need cleaner and more widely distributed magnet manufacturing facilities.', 'The future, they say, depends on it. ""', 'My job is brilliant,"" says Matthew Swallow, technical product manager for Bunting Magnetics in the UK. ""', 'Nobody else, I don\'t think, gets involved in so many things.""', 'His firm makes magnets that are used in all kinds of systems - from cochlear implants, to emergency brakes on rollercoasters, including at Alton Towers.', 'Bunting Magnetics has even supplied magnets to Nasa.', 'Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved.', 'For such magnets designed to cope with temperatures up to 200C, a grade of N35 used to be the maximum.', 'But now N52 grade versions are commercially available. ""', 'You can literally make the magnet 60% less massive and get the same level of performance,"" explains Mr Swallow.', 'In an electric motor, a magnetic field helps an internal coil to spin.', 'This might be used to drive an axle and turn the wheels of an electric car, for example.', 'Higher grade magnets mean motors that run more efficiently and cars that weigh slightly less overall.', ""The careful addition of a small amount of dysprosium, another rare earth element, is one way to improve a magnet's efficiency."", 'One reason why China dominates global production of these magnets is financial incentives, says Ross Embleton, senior analyst for metals & mining - rare earths at Wood Mackenzie.', 'Rare earth permanent magnet material is subject to a 13% VAT discount on export from the country, and provincial governments give support on energy costs, for example, which also helps buoy up magnet-making facilities. ""', 'It\'s a really, really challenging industry to compete in if you\'re outside of China,"" says Mr Embleton.', ""That hasn't stopped some from trying."", 'US firm Niron Magnetics says it has managed to make good quality magnets without rare earths.', 'Instead, they use iron and nitrogen to make iron nitride magnets.', 'This relies on getting the iron nitride to take on a specific crystalline structure, which generates magnetic fields.', ""Chief executive Jonathan Rowntree declines to explain his company's production techniques in detail, but he says Niron has already produced working magnets."", 'The first of these will be used in speakers.', ""Magnetic field strength is measured in terms of teslas, and Niron's magnets are currently at one tesla."", 'Mr Rowntree says it should be possible to make significantly more powerful magnets, up to 2.4 teslas, with iron nitride.', 'Alternatively, recycling magnets would also be much better for the environment compared with making new rare earth magnets from scratch.', 'In the UK, the University of Birmingham has developed a method for extracting rare earth alloys from old electric motors and computer hard drives, for example.', 'A spin out company, HyProMag, has now successfully extracted rare earths using the technology, and aims to begin commercial production of magnets using such material later this year.', 'Meanwhile, US firm Noveon Magnetics says it has developed its own method for magnet recycling.', 'When asked about the process, and the grades of magnets produced, chief commercial officer Peter Afiuny declined to go into details, except to say that a small amount of alloy is mixed with recovered material to achieve the desired result.', 'The whole process is about 40% more efficient than traditional virgin magnet production.', 'It can be difficult to know the quality of an old magnet from a disused consumer electronics device, however, says Mr Embleton.', 'And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove.', 'But gradually, as early generations of EV motors and wind turbines reach the end of their lifespans in the coming years, more magnetic material is expected to become available for recycling. ""', 'There\'s a bit of a delay there waiting for that material to come back again,"" says Mr Embleton.', 'Companies have an opportunity to perfect their recycling processes in the meantime.', 'More technology of business Niron\'s targeting of the audio speakers market is interesting, says Nicola Morley at the University of Sheffield. ""', 'It means they think they can produce them cheaply - that market has other cheap permanent magnets in it,"" she explains.', 'Within the last decade, the development of magnet technology has really begun to accelerate, adds Prof Morley.', 'And Mr Swallow cites other emerging applications that sound quite sci-fi - including magnets mounted on satellites to scoop up space debris orbiting Earth.', 'Dr Kroh says he is looking forward to even more sophisticated magnets that will make other surgeries less invasive than before.', 'Chest surgery involving the lungs, or endoscopies, for instance, could one day be performed with the help of such technology. ""', 'It\'s almost limitless,"" he says. ""', 'This is just the beginning.""']",0.1639147133339751,"And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before.","And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove.",0.988849639892578,"Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved.",,2024-04-11 -Greece offers hotel vouchers to wildfire evacuees,https://www.bbc.co.uk/news/business-68790002,2024-04-11T12:42:25.000Z,"Holidaymakers who were evacuated from Rhodes last year due to wildfires will be offered vouchers for money off hotel stays, the Greek government has said. The Rodos Week scheme is for holidaymakers who were evacuated from hotels in July 2023, but will not cover those who stayed in AirBnBs. The vouchers will be worth up to €500 (£430) and the stay must be for seven nights. Thousands of UK holidaymakers were flown home due to the fires last year. Holidaymakers are being offered vouchers for two periods: in the spring between 10 April and 31 May, and in the autumn between 1 October and 15 November. The value of the vouchers offered will depend on the original booking that was cut short. For example, if people were staying in a three-star hotel in up to a triple room they would get vouchers worth €300. Holidaymakers will have to book for at least seven nights, with six of them consecutive. The Greek Ministry of Tourism has been putting together a list of affected holidaymakers using data provided by hotels in Greece and tour operators. Those who are on the list should already have been sent an email to complete their registration. If affected holidaymakers have not been contacted, they will be able to apply for vouchers. The deadline for applications for vouchers for the spring has already passed, but it will be possible to make an application for the autumn. Last summer, a heatwave in Greece saw temperatures exceed 40C (104F) across the country. Fires, fanned by strong winds, raged on Rhodes, and also affected Corfu. At the time, Greek Prime Minister Kyriakos Mitsotakis said there was ""no magic defence"" considering ""what the entire planet is facing, especially the Mediterranean, which is a hotspot for climate change"". According to the United Nations, July 2023 was the hottest month ever recorded. ",BBC,11/04/2024,"['Holidaymakers who were evacuated from Rhodes last year due to wildfires will be offered vouchers for money off hotel stays, the Greek government has said.', 'The Rodos Week scheme is for holidaymakers who were evacuated from hotels in July 2023, but will not cover those who stayed in AirBnBs.', 'The vouchers will be worth up to €500 (£430) and the stay must be for seven nights.', 'Thousands of UK holidaymakers were flown home due to the fires last year.', 'Holidaymakers are being offered vouchers for two periods: in the spring between 10 April and 31 May, and in the autumn between 1 October and 15 November.', 'The value of the vouchers offered will depend on the original booking that was cut short.', 'For example, if people were staying in a three-star hotel in up to a triple room they would get vouchers worth €300.', 'Holidaymakers will have to book for at least seven nights, with six of them consecutive.', 'The Greek Ministry of Tourism has been putting together a list of affected holidaymakers using data provided by hotels in Greece and tour operators.', 'Those who are on the list should already have been sent an email to complete their registration.', 'If affected holidaymakers have not been contacted, they will be able to apply for vouchers.', 'The deadline for applications for vouchers for the spring has already passed, but it will be possible to make an application for the autumn.', 'Last summer, a heatwave in Greece saw temperatures exceed 40C (104F) across the country.', 'Fires, fanned by strong winds, raged on Rhodes, and also affected Corfu.', 'At the time, Greek Prime Minister Kyriakos Mitsotakis said there was ""no magic defence"" considering ""what the entire planet is facing, especially the Mediterranean, which is a hotspot for climate change"".', 'According to the United Nations, July 2023 was the hottest month ever recorded.']",0.0418922157021431,"According to the United Nations, July 2023 was the hottest month ever recorded.","At the time, Greek Prime Minister Kyriakos Mitsotakis said there was ""no magic defence"" considering ""what the entire planet is facing, especially the Mediterranean, which is a hotspot for climate change"".",0.0169252455234527,"According to the United Nations, July 2023 was the hottest month ever recorded.","Last summer, a heatwave in Greece saw temperatures exceed 40C (104F) across the country.",2024-04-11 -Ohtani interpreter charged with stealing over $16m from baseball star,https://www.bbc.co.uk/news/world-us-canada-68794204,2024-04-11T18:45:57.000Z,"US officials have charged baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, with bank fraud following a betting scandal. The lead prosecutor in California accused Mr Mizhuara of impersonating Mr Ohtani to banks and to place wagers. ""Mr Ohtani is considered a victim in this case,"" US Attorney Martin Estrada told reporters at a news conference in Los Angeles on Thursday. Mr Mizuhara, 39, was fired last month as news of the alleged theft emerged. Prosecutors claim that the interpreter used Mr Ohtani's money to place bets and deposited his winnings into an account that he controlled. Between November 2021 and January 2024, officials said he wired more than $16m (£13m) in unauthorised transfers from Mr Ohtani's account. ""Mr Mizuhara did all this to feed his insatiable appetite for illegal sports gambling,"" Mr Estrada said. The charging document alleges that Mr Mizuhara, who acted as Mr Ohtani's de facto manager, took advantage of the fact that the Japanese sports star does not speak English. It said he called bank officials and ""falsely identified himself as [Mr] Ohtani to trick employees into authorizing wire transfers from [Mr] Ohtani's bank account to associates of the illegal gambling operation"". From January to March 2024, Mr Mizuhara also allegedly purchased $325,000 in baseball cards using money taken from Mr Ohtani's account. An LA-based defence lawyer representing Mr Mizuhara declined to comment on the charges on Thursday. Last week, Mr Ohtani sat for an interview with prosecutors and denied that he allowed the interpreter access to his finances. ""[Mr] Ohtani provided his cellphone to law enforcement, who determined that there was no evidence to suggest that [Mr] Ohtani was aware of, or involved in, [Mr] Mizuhara's illegal gambling activity or payment of those debts,"" according to the prosecutor's statement. The criminal charge carries a sentence of 30 years in federal prison. The New York Times reports he is negotiating a plea deal with prosecutors. Sports betting is legal in 38 states in America but it remains illegal in California. Major League Baseball has its own policy that bans ""any player, umpire, or Club or League official or employee"" from betting on baseball games and placing bets with illegal bookmakers. Mr Estrada on Thursday told reporters that there is no evidence to suggest that Mr Mizuhara placed any bets on baseball games. Ohtani signed a record 10-year, $700m contract with the Dodgers before this season, becoming the face of the sports franchise. He had just won his second unanimous American League MVP award. His stint in the US started in 2018, and Mr Mizuhara had been a constant companion. He and his wife were recently seen in a picture that revealed Mr Ohtani's wife, Mamiko Tanaka, after weeks of speculation. Last month, Mr Ohtani told reporters at an LA Dodgers news conference: ""I'm very saddened and shocked that someone who I trusted has done this. ""Ippei has been stealing money from my account and has told lies,"" he said, speaking with the help of a different interpreter. ",BBC,11/04/2024,"[""US officials have charged baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, with bank fraud following a betting scandal."", 'The lead prosecutor in California accused Mr Mizhuara of impersonating Mr Ohtani to banks and to place wagers. ""', 'Mr Ohtani is considered a victim in this case,"" US Attorney Martin Estrada told reporters at a news conference in Los Angeles on Thursday.', 'Mr Mizuhara, 39, was fired last month as news of the alleged theft emerged.', ""Prosecutors claim that the interpreter used Mr Ohtani's money to place bets and deposited his winnings into an account that he controlled."", 'Between November 2021 and January 2024, officials said he wired more than $16m (£13m) in unauthorised transfers from Mr Ohtani\'s account. ""', 'Mr Mizuhara did all this to feed his insatiable appetite for illegal sports gambling,"" Mr Estrada said.', ""The charging document alleges that Mr Mizuhara, who acted as Mr Ohtani's de facto manager, took advantage of the fact that the Japanese sports star does not speak English."", 'It said he called bank officials and ""falsely identified himself as [Mr] Ohtani to trick employees into authorizing wire transfers from [Mr] Ohtani\'s bank account to associates of the illegal gambling operation"".', ""From January to March 2024, Mr Mizuhara also allegedly purchased $325,000 in baseball cards using money taken from Mr Ohtani's account."", 'An LA-based defence lawyer representing Mr Mizuhara declined to comment on the charges on Thursday.', 'Last week, Mr Ohtani sat for an interview with prosecutors and denied that he allowed the interpreter access to his finances. ""[', 'Mr] Ohtani provided his cellphone to law enforcement, who determined that there was no evidence to suggest that [Mr] Ohtani was aware of, or involved in, [Mr] Mizuhara\'s illegal gambling activity or payment of those debts,"" according to the prosecutor\'s statement.', 'The criminal charge carries a sentence of 30 years in federal prison.', 'The New York Times reports he is negotiating a plea deal with prosecutors.', 'Sports betting is legal in 38 states in America but it remains illegal in California.', 'Major League Baseball has its own policy that bans ""any player, umpire, or Club or League official or employee"" from betting on baseball games and placing bets with illegal bookmakers.', 'Mr Estrada on Thursday told reporters that there is no evidence to suggest that Mr Mizuhara placed any bets on baseball games.', 'Ohtani signed a record 10-year, $700m contract with the Dodgers before this season, becoming the face of the sports franchise.', 'He had just won his second unanimous American League MVP award.', 'His stint in the US started in 2018, and Mr Mizuhara had been a constant companion.', ""He and his wife were recently seen in a picture that revealed Mr Ohtani's wife, Mamiko Tanaka, after weeks of speculation."", 'Last month, Mr Ohtani told reporters at an LA Dodgers news conference: ""I\'m very saddened and shocked that someone who I trusted has done this. ""', 'Ippei has been stealing money from my account and has told lies,"" he said, speaking with the help of a different interpreter.']",-0.2500136422165527,He had just won his second unanimous American League MVP award.,"US officials have charged baseball sensation Shohei Ohtani's long-time interpreter, Ippei Mizuhara, with bank fraud following a betting scandal.",-0.292396605014801,He had just won his second unanimous American League MVP award.,"Last month, Mr Ohtani told reporters at an LA Dodgers news conference: ""I'm very saddened and shocked that someone who I trusted has done this. """,2024-04-11 -Could AI take the grind out of accountancy?,https://www.bbc.co.uk/news/business-68553123,2024-03-26T00:24:13.000Z,"Owen Hewitt, is a trainee chartered accountant at accountancy firm haysmacintyre. He's two years into his training with more exams coming up this year. What's unusual about him and his peers, is that they will be the first generation of accountants to use artificial intelligence (AI) right from the beginning of their careers. Mr Hewitt is hoping that AI will take over some of the more tedious parts of the job. ""These (AI) can remove the burden of the more time-consuming tasks, like analysis of financial data,"" says Mr Hewitt. That leaves the humans to focus on more subjective - and more interesting - decisions, like whether a business is viable, or whether debts are likely to be paid. ""Whilst AI can learn from data and make predictions, it can't yet replace the human judgement required to weigh up different variables and make an informed decision,"" he says. So, AI is increasingly being used for routine and time-consuming tasks such as summarising documents, creating content, drafting documentation, advanced searching, analytics and insight and knowledge management - often work done by more junior accountancy staff. ""When you look at some of the tasks that auditors were doing - some of the boring, mundane tasks around churning data and manipulating it into a format where you can then actually do something valuable with it - that's where artificial intelligence can play a really big part,"" says Matthew Campbell, audit chief technology officer for KPMG UK. Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs. According to a KPMG survey, four in 10 senior audit professionals expect that the increased efficiency that AI can bring will lead to a reduction in the size of auditing teams. Already, many manual audit and reporting tasks have been outsourced to other countries, with most major banks in the UK now having taken on large numbers of qualified accountants in India, who perform a significant proportion of month-end financial reporting tasks. This, says Alex King, founder and chartered accountant at finance platform Generation Money, means that junior accountants working in audit will need to focus more on client-facing skills. ""Generally, the nature of a junior accountant's role is likely to change more towards systems management - overseeing AI powered software and databases - and relationship management, and away from the traditional reconciliations and ledgers work,"" he says. As a result, training programmes are changing. ""We're still recruiting a number of people, graduates, and we're also recruiting a number of apprentices. I think what will change over time is the skillsets of some of those individuals,"" says Mr Campbell. ""We're already starting to see that, so we've invested in putting a number of our auditors through a master's degree in applied data science, so they can take that auditing and accounting knowledge with their data science skills knowledge, to really bring the best of those skills together."" The accountancy industry has seen some high-profile failures in recent years. In March, KPMG was fined £1.5m for failings in its 2019 audit of advertising agency M&C Saatchi. And it's not alone in making errors. Last summer, a report from the US Public Company Accounting Oversight Board (PCAOB) found that four in 10 audits conducted by global accounting firms had significant flaws, and that the proportion was rising rapidly. Meanwhile, the UK's accountancy regulator, the Financial Reporting Council (FRC), carried out 19 investigations in the 2022-2023 financial year, slapping fines of £40.5 million on auditing firms and their clients for audit failings. As a result, auditing firms are now under great scrutiny; and to tighten up their procedures, many are turning to AI. ""As generative AI plays a more prominent role in contributing to first drafts of content, the human auditor role can be elevated to focus on areas of judgment and challenge,"" says Marc Bena, digital audit leader at PwC UK. ""The ability to analyse data at a much larger scale also means we can perform better risk assessments and analysis."" AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client. KPMG itself uses AI for high-risk transactions to look for such anomalies, such as the posting of unusual amounts, postings made by somebody unusual or postings made at a weekend. ""We get to a point where it's a truly data-driven audit, where we identify the risks from within a population of data and use that to help focus our audit efforts on the most complex, the high-risk, the most judgmental areas,"" says Mr Campbell. More technology of business As for more high-level jobs, AI may help here too. Auditing firms have been finding it hard to retain talent, with 90% of auditors telling Caseware last year that it is either somewhat or extremely difficult. Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper. However, 86% of auditing staff agreed that AI helps cut down time on repetitive task - and 83% said they'd be more inclined to stay at a company with AI initiatives in place. ""They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation,"" says Mr Campbell. ""The bits of their role that it's taking away is stuff that they weren't enjoying."" ",BBC,26/03/2024,"['Owen Hewitt, is a trainee chartered accountant at accountancy firm haysmacintyre.', ""He's two years into his training with more exams coming up this year."", ""What's unusual about him and his peers, is that they will be the first generation of accountants to use artificial intelligence (AI) right from the beginning of their careers."", 'Mr Hewitt is hoping that AI will take over some of the more tedious parts of the job. ""', 'These (AI) can remove the burden of the more time-consuming tasks, like analysis of financial data,"" says Mr Hewitt.', 'That leaves the humans to focus on more subjective - and more interesting - decisions, like whether a business is viable, or whether debts are likely to be paid. ""', 'Whilst AI can learn from data and make predictions, it can\'t yet replace the human judgement required to weigh up different variables and make an informed decision,"" he says.', 'So, AI is increasingly being used for routine and time-consuming tasks such as summarising documents, creating content, drafting documentation, advanced searching, analytics and insight and knowledge management - often work done by more junior accountancy staff. ""', 'When you look at some of the tasks that auditors were doing - some of the boring, mundane tasks around churning data and manipulating it into a format where you can then actually do something valuable with it - that\'s where artificial intelligence can play a really big part,"" says Matthew Campbell, audit chief technology officer for KPMG UK.', ""Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs."", 'According to a KPMG survey, four in 10 senior audit professionals expect that the increased efficiency that AI can bring will lead to a reduction in the size of auditing teams.', 'Already, many manual audit and reporting tasks have been outsourced to other countries, with most major banks in the UK now having taken on large numbers of qualified accountants in India, who perform a significant proportion of month-end financial reporting tasks.', 'This, says Alex King, founder and chartered accountant at finance platform Generation Money, means that junior accountants working in audit will need to focus more on client-facing skills. ""', 'Generally, the nature of a junior accountant\'s role is likely to change more towards systems management - overseeing AI powered software and databases - and relationship management, and away from the traditional reconciliations and ledgers work,"" he says.', 'As a result, training programmes are changing. ""', ""We're still recruiting a number of people, graduates, and we're also recruiting a number of apprentices."", 'I think what will change over time is the skillsets of some of those individuals,"" says Mr Campbell. ""', 'We\'re already starting to see that, so we\'ve invested in putting a number of our auditors through a master\'s degree in applied data science, so they can take that auditing and accounting knowledge with their data science skills knowledge, to really bring the best of those skills together.""', 'The accountancy industry has seen some high-profile failures in recent years.', 'In March, KPMG was fined £1.5m for failings in its 2019 audit of advertising agency M&C Saatchi.', ""And it's not alone in making errors."", 'Last summer, a report from the US Public Company Accounting Oversight Board (PCAOB) found that four in 10 audits conducted by global accounting firms had significant flaws, and that the proportion was rising rapidly.', ""Meanwhile, the UK's accountancy regulator, the Financial Reporting Council (FRC), carried out 19 investigations in the 2022-2023 financial year, slapping fines of £40.5 million on auditing firms and their clients for audit failings."", 'As a result, auditing firms are now under great scrutiny; and to tighten up their procedures, many are turning to AI. ""', 'As generative AI plays a more prominent role in contributing to first drafts of content, the human auditor role can be elevated to focus on areas of judgment and challenge,"" says Marc Bena, digital audit leader at PwC UK. ""', 'The ability to analyse data at a much larger scale also means we can perform better risk assessments and analysis.""', 'AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client.', 'KPMG itself uses AI for high-risk transactions to look for such anomalies, such as the posting of unusual amounts, postings made by somebody unusual or postings made at a weekend. ""', 'We get to a point where it\'s a truly data-driven audit, where we identify the risks from within a population of data and use that to help focus our audit efforts on the most complex, the high-risk, the most judgmental areas,"" says Mr Campbell.', 'More technology of business As for more high-level jobs, AI may help here too.', 'Auditing firms have been finding it hard to retain talent, with 90% of auditors telling Caseware last year that it is either somewhat or extremely difficult.', 'Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper.', 'However, 86% of auditing staff agreed that AI helps cut down time on repetitive task - and 83% said they\'d be more inclined to stay at a company with AI initiatives in place. ""', 'They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation,"" says Mr Campbell. ""', 'The bits of their role that it\'s taking away is stuff that they weren\'t enjoying.""']",0.1626808889918358,"AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client.","Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs.",0.3071964780489604,"Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper.","Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs.",2024-04-11 -Tesla: Elon Musk's EV maker to settle over fatal Autopilot crash,https://www.bbc.co.uk/news/articles/c14kggkr4vro,2024-04-09T05:18:02.807Z,"Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier. The case, brought by Mr Huang's family, was scheduled to begin in the California Superior Court this week. If the trial had gone ahead, it would have brought increased scrutiny of the firm's Autopilot and Full Self-Driving technology. The terms of the settlement were not disclosed and reports have said the deal still needs to be approved by a judge. Tesla did not immediately respond to a BBC request for comment. Before the settlement, Tesla argued that Mr Huang had misused the system because he was playing a video game just before the accident. The firm has previously won trials in California by arguing that drivers involved had not followed its instructions to maintain attention while using the system. The electric vehicle (EV) maker faces a series of lawsuits over crashes related to the alleged use of its driver-assistant technology. The US National Highway Traffic Safety Administration has also been investigating some accidents involving Autopilot. For many years, Tesla has promised to produce an autonomous car but has yet to launch one. On Friday, Mr Musk said the company plans to unveil a self-driving robotaxi in August. The settlement with Mr Huang's family comes at a time when the company is battling weakening sales. Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition. Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen. Tesla's shares have lost almost a third of their value since the start of this year. ",BBC,09/04/2024,"['Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.', ""The case, brought by Mr Huang's family, was scheduled to begin in the California Superior Court this week."", ""If the trial had gone ahead, it would have brought increased scrutiny of the firm's Autopilot and Full Self-Driving technology."", 'The terms of the settlement were not disclosed and reports have said the deal still needs to be approved by a judge.', 'Tesla did not immediately respond to a BBC request for comment.', 'Before the settlement, Tesla argued that Mr Huang had misused the system because he was playing a video game just before the accident.', 'The firm has previously won trials in California by arguing that drivers involved had not followed its instructions to maintain attention while using the system.', 'The electric vehicle (EV) maker faces a series of lawsuits over crashes related to the alleged use of its driver-assistant technology.', 'The US National Highway Traffic Safety Administration has also been investigating some accidents involving Autopilot.', 'For many years, Tesla has promised to produce an autonomous car but has yet to launch one.', 'On Friday, Mr Musk said the company plans to unveil a self-driving robotaxi in August.', ""The settlement with Mr Huang's family comes at a time when the company is battling weakening sales."", 'Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.', 'Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen.', ""Tesla's shares have lost almost a third of their value since the start of this year.""]",-0.0477430980774904,"The case, brought by Mr Huang's family, was scheduled to begin in the California Superior Court this week.","Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.",-0.4115793364388602,"Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.","Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.",2024-04-11 -Rishi Sunak's five promises: What progress has he made?,https://www.bbc.co.uk/news/65647308,2023-07-04T00:44:37.000Z,"On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities. ""I fully expect you to hold my government and I to account on delivering those goals,"" he said. What progress has he made? The government's top priority was halving inflation - the increase in prices over time - by the end of 2023. Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023. The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods. The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge. The government has never publicly said what measure should be used to assess if it had met the prime minister's pledge to ""grow the economy"", despite repeated requests. In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September). That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession. Overall the economy grew by only 0.1% in the whole of 2023. Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals. On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth. He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy. I don't think any of us were expecting the economy to actually grow last year."" The pledge to grow the economy was made more difficult by the government's promise to halve inflation. The Bank of England put up interest rates 14 times to stop prices rising so quickly. However, this also reduced spending, and slowed economic growth. When governments talk about reducing debt, it almost always mean as a proportion of GDP. The idea is that debt is coming down if it is growing more slowly than the economy. In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out. The latest figures for February showed that government debt stood at 97.1% of the size of the economy. That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"". But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29). In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29. But it is going to be tight and will involve challenging spending restraint for some government departments. When will we know? The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024. Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly."" His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems. The overall number of waits for non-emergency treatment in England was 7.5 million in February. This was the sixth monthly fall in a row and about 200,000 down from August, but about 600,000 higher than it was when Mr Sunak came to office. The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have."" He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact."" Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000. When will we know?: Monthly waiting list figures are published about six weeks after the end of each month. The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022. The prime minister proposed to do this through new legislation.The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally. The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court. In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring that Rwanda is a safe country. The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024. Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"". In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year. In the first three months of 2024, 5,435 people crossed the English Channel - a new record for arrivals between January and March. Since then another 82 people made the crossing, bringing the total this year to 5,517. When will we know? Figures on arrivals in small boats are collected daily. What do you want BBC Verify to investigate? ",BBC,04/07/2023,"['On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities. ""', 'I fully expect you to hold my government and I to account on delivering those goals,"" he said.', 'What progress has he made?', ""The government's top priority was halving inflation - the increase in prices over time - by the end of 2023."", 'Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023.', 'The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods.', 'The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge.', 'The government has never publicly said what measure should be used to assess if it had met the prime minister\'s pledge to ""grow the economy"", despite repeated requests.', 'In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September).', 'That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession.', 'Overall the economy grew by only 0.1% in the whole of 2023.', 'Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals.', 'On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth.', 'He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy.', 'I don\'t think any of us were expecting the economy to actually grow last year.""', ""The pledge to grow the economy was made more difficult by the government's promise to halve inflation."", 'The Bank of England put up interest rates 14 times to stop prices rising so quickly.', 'However, this also reduced spending, and slowed economic growth.', 'When governments talk about reducing debt, it almost always mean as a proportion of GDP.', 'The idea is that debt is coming down if it is growing more slowly than the economy.', 'In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out.', 'The latest figures for February showed that government debt stood at 97.1% of the size of the economy.', 'That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"".', 'But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).', 'In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29.', 'But it is going to be tight and will involve challenging spending restraint for some government departments.', 'When will we know?', 'The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024.', 'Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly.""', 'His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems.', 'The overall number of waits for non-emergency treatment in England was 7.5 million in February.', 'This was the sixth monthly fall in a row and about 200,000 down from August, but about 600,000 higher than it was when Mr Sunak came to office.', 'The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have.""', 'He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact.""', 'Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000.', 'When will we know?:', 'Monthly waiting list figures are published about six weeks after the end of each month.', 'The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022.', 'The prime minister proposed to do this through new legislation.', 'The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally.', 'The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.', 'In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring that Rwanda is a safe country.', 'The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024.', 'Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"".', 'In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year.', 'In the first three months of 2024, 5,435 people crossed the English Channel - a new record for arrivals between January and March.', 'Since then another 82 people made the crossing, bringing the total this year to 5,517.', 'When will we know?', 'Figures on arrivals in small boats are collected daily.', 'What do you want BBC Verify to investigate?']",-0.0229057717906215,The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.,But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).,0.0905166392525037,"He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy.","This was the sixth monthly fall in a row and about 200,000 down from August, but about 600,000 higher than it was when Mr Sunak came to office.",2024-04-11 -Will Truth Social solve Donald Trump's money problems?,https://www.bbc.co.uk/news/business-68716628,2024-04-02T23:56:00.000Z,"The share price of Donald Trump's media company has fallen from last week's high when it officially listed on the Nasdaq stock exchange. But it is still worth more than $7bn (£5.6bn) at current prices - an astonishing sum given the business behind it. So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump's spiralling legal bills? Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence. The idea was pitched to him by two men, former contestants on his reality TV show, The Apprentice, who saw an opportunity to create an alternative to the mainstream social media sites. In 2022 Trump Media launched its first - and to date only - product for the public: the social media platform Truth Social. Much of Truth Social's functionality is identical to X. Users are able to post 'truths' or 'retruths' as well as send direct messages. Adverts, meanwhile, are called 'sponsored truths'. Trump Media claims about 9m Truth Social accounts have been created since its start. It does not disclose how many users it has, but research firm SimilarWeb estimates that Truth Social had 5m monthly website visits in February this year. By comparison, TikTok received more than 2bn visits, while Facebook had more than 3bn. X had 104m visits in February, SimilarWeb reported. Mr Trump has roughly 7m followers on Truth Social, far fewer than the 87m he has on X. The former president's X account was reinstated towards the end of 2022, but he has only posted once since then. It doesn't. Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of ""substantial doubt"" about its ability to continue as a business. The report was another reminder of the considerable disconnect between the finances of the company and its stock price, which puts its value at around $7bn. As a gauge, in 2013, when Twitter listed on the stock market, it reported $660m in revenue and had a market value of roughly $24bn. By 2021, the year before Elon Musk bought Twitter for $44bn, that figure had grown to more than $5bn. Mr Trump's relationship with the firm is a bit like the licensing deals that he used in his property empire, in which he signed over his name for the promotion of a business run primarily by others. In this case, Mr Trump has also agreed to post non-political messages first on Truth Social. The other difference is that this deal did not yield a stream of automatic licensing fees - instead, Mr Trump was paid by being given shares in the new start-up. Trump Media, which is led by former Republican congressman Devin Nunes, was originally a private company, and Mr Trump owned 90% of it. It went public in March 2024 via what is known as a SPAC - basically, it was acquired by a company whose shares were already trading publicly on the stock market, in this case, Digital World Acquisition Corp. Mr Trump now owns about 57% of shares in the combined firm, which was renamed Trump Media and trades under the DJT ticker - Mr Trump's initials. The next biggest owner of TMTG is the Kuwaiti-headquartered investment firm ARC Global Investments, which has a 6.9% stake, according to Trump Media filings with financial regulators. The former Apprentice contestants also have a sizable stakes, though those holdings are currently subject to legal fights. The two men - Wes Moss and Andy Litinsky - filed a suit against Mr Trump claiming he was trying to cheat them out of their shares. He sued them back, arguing that their mismanagement of the social media site should cost them their stakes in the company. Overall, insiders own about 70% of the stock. When Trump Media announced its plans to go public in 2021, the news prompted small-time investors to snap up shares of Digital World, helping to pump up its price and drawing comparisons to pandemic-era meme stocks. At the end of 2023, big financial firms owned only about 5% of Digital World stock, far less than is typical, implying everyday investors had the bulk of the rest. With the merger complete, those individuals now also own a significant chunk of Trump Media, though just how much is not known exactly. Conversations in online forums suggest at least some of those shareholders see their stock purchase as a bet on Mr Trump and a way to support him as his legal troubles, and the bills that accompany them, pile up. Mr Trump has been ordered to pay more than $350m in damages in a civil fraud case, with interest charges potentially adding another $100m. After the merger was completed, Mr Trump saw his net worth more than double to over $5bn overnight, according to Forbes. Mr Trump is barred from selling his roughly 78m shares for about six months, unless the company decides to grant him a waiver. But he stands to earn a windfall should he decide to cash in - even if the price drops sharply, as many analysts predict. Shares in Digital World, now Trump Media, have swung wildly since 2021 and are expected to continue to do so. They popped to more than $70 apiece when Trump Media formally debuted on 26 March. They have since fallen and are trading around $50 apiece, which makes Mr Trump's stake worth $4.1bn. But that is about where they were the day before the launch and three times what Digital World shares were worth at the start of 2024. Even if they were to fall to $1 apiece in six months, Mr Trump could still raise more than $78m by selling. ",BBC,02/04/2024,"[""The share price of Donald Trump's media company has fallen from last week's high when it officially listed on the Nasdaq stock exchange."", 'But it is still worth more than $7bn (£5.6bn) at current prices - an astonishing sum given the business behind it.', 'So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make?', ""And is it the answer to Mr Trump's spiralling legal bills?"", 'Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.', 'The idea was pitched to him by two men, former contestants on his reality TV show, The Apprentice, who saw an opportunity to create an alternative to the mainstream social media sites.', 'In 2022 Trump Media launched its first - and to date only - product for the public: the social media platform Truth Social.', ""Much of Truth Social's functionality is identical to X. Users are able to post 'truths' or 'retruths' as well as send direct messages."", ""Adverts, meanwhile, are called 'sponsored truths'."", 'Trump Media claims about 9m Truth Social accounts have been created since its start.', 'It does not disclose how many users it has, but research firm SimilarWeb estimates that Truth Social had 5m monthly website visits in February this year.', 'By comparison, TikTok received more than 2bn visits, while Facebook had more than 3bn.', 'X had 104m visits in February, SimilarWeb reported.', ""Mr Trump has roughly 7m followers on Truth Social, far fewer than the 87m he has on X. The former president's X account was reinstated towards the end of 2022, but he has only posted once since then."", ""It doesn't."", 'Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of ""substantial doubt"" about its ability to continue as a business.', 'The report was another reminder of the considerable disconnect between the finances of the company and its stock price, which puts its value at around $7bn.', 'As a gauge, in 2013, when Twitter listed on the stock market, it reported $660m in revenue and had a market value of roughly $24bn.', 'By 2021, the year before Elon Musk bought Twitter for $44bn, that figure had grown to more than $5bn.', ""Mr Trump's relationship with the firm is a bit like the licensing deals that he used in his property empire, in which he signed over his name for the promotion of a business run primarily by others."", 'In this case, Mr Trump has also agreed to post non-political messages first on Truth Social.', 'The other difference is that this deal did not yield a stream of automatic licensing fees - instead, Mr Trump was paid by being given shares in the new start-up.', 'Trump Media, which is led by former Republican congressman Devin Nunes, was originally a private company, and Mr Trump owned 90% of it.', ""It went public in March 2024 via what is known as a SPAC - basically, it was acquired by a company whose shares were already trading publicly on the stock market, in this case, Digital World Acquisition Corp. Mr Trump now owns about 57% of shares in the combined firm, which was renamed Trump Media and trades under the DJT ticker - Mr Trump's initials."", 'The next biggest owner of TMTG is the Kuwaiti-headquartered investment firm ARC Global Investments, which has a 6.9% stake, according to Trump Media filings with financial regulators.', 'The former Apprentice contestants also have a sizable stakes, though those holdings are currently subject to legal fights.', 'The two men - Wes Moss and Andy Litinsky - filed a suit against Mr Trump claiming he was trying to cheat them out of their shares.', 'He sued them back, arguing that their mismanagement of the social media site should cost them their stakes in the company.', 'Overall, insiders own about 70% of the stock.', 'When Trump Media announced its plans to go public in 2021, the news prompted small-time investors to snap up shares of Digital World, helping to pump up its price and drawing comparisons to pandemic-era meme stocks.', 'At the end of 2023, big financial firms owned only about 5% of Digital World stock, far less than is typical, implying everyday investors had the bulk of the rest.', 'With the merger complete, those individuals now also own a significant chunk of Trump Media, though just how much is not known exactly.', 'Conversations in online forums suggest at least some of those shareholders see their stock purchase as a bet on Mr Trump and a way to support him as his legal troubles, and the bills that accompany them, pile up.', 'Mr Trump has been ordered to pay more than $350m in damages in a civil fraud case, with interest charges potentially adding another $100m. After the merger was completed, Mr Trump saw his net worth more than double to over $5bn overnight, according to Forbes.', 'Mr Trump is barred from selling his roughly 78m shares for about six months, unless the company decides to grant him a waiver.', 'But he stands to earn a windfall should he decide to cash in - even if the price drops sharply, as many analysts predict.', 'Shares in Digital World, now Trump Media, have swung wildly since 2021 and are expected to continue to do so.', 'They popped to more than $70 apiece when Trump Media formally debuted on 26 March.', ""They have since fallen and are trading around $50 apiece, which makes Mr Trump's stake worth $4.1bn."", 'But that is about where they were the day before the launch and three times what Digital World shares were worth at the start of 2024.', 'Even if they were to fall to $1 apiece in six months, Mr Trump could still raise more than $78m by selling.']",0.1382611243779417,Much of Truth Social's functionality is identical to X. Users are able to post 'truths' or 'retruths' as well as send direct messages.,"Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.",0.1471985181172689,"Shares in Digital World, now Trump Media, have swung wildly since 2021 and are expected to continue to do so.","Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of ""substantial doubt"" about its ability to continue as a business.",2024-04-11 -Ted Baker to close 15 stores and cut 245 jobs,https://www.bbc.co.uk/news/business-68762097,2024-04-08T13:39:15.000Z,"High Street fashion chain Ted Baker is to close 15 UK stores and cut 245 jobs, administrators have said. Eleven stores will close by 19 April, administrators for the brand's owner said, leading to 120 job losses. In addition, 25 head office roles will go, and four stores that had been set to close prior to the administration will shut shortly, affecting 100 posts. The firm behind Ted Baker's UK shops, No Ordinary Designer Label (NODL), hired administrators last month. When it fell into administration, Ted Baker had about 975 employees in the UK and ran 46 shops, plus an e-commerce platform and department store concessions. US firm Authentic Brands Group owns the intellectual property to Ted Baker, with NODL the holding company for the brand in the UK. When NODL fell into administration itself last month, Authentic Brands said the ""damage done"" during a tie-up with another firm was ""too much to overcome"". It said NODL had ""built up a significant level of arrears"" through a partnership with Dutch firm AARC, which ended in January this year. The administrators said the stores scheduled to close ""have no prospect of being returned to profitability, even with material rent reductions"". Danni Hewson, head of financial analysis at investment platform AJ Bell said although the Ted Baker brand did ""still chime"" with consumers, ""the sound is dull and for many younger shoppers their engagement is limited to fragrance and underwear"". She suggested Next could be in the running to acquire the fashion chain. ""Next already has a relationship with the brand and no one would be surprised to see it subsume the company into its family, especially now the business has been slimmed down,"" Ms Hewson added. Meanwhile, joint administrator Benji Dymant said: ""Ted Baker is an iconic British brand with strong partners around the world. ""These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health."" The 11 stores closing by 19 April are: The four stores that are set to close ""in the coming weeks"" are: Ted Baker began as a menswear brand in Glasgow in 1988, and grew to have shops across the UK and in the United States. It also has licensing agreements in place for stores in cities in Asia and the Middle East. Are you affected by the issues raised in this story? Share your experiences by emailing haveyoursay@bbc.co.uk. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission. ",BBC,08/04/2024,"['High Street fashion chain Ted Baker is to close 15 UK stores and cut 245 jobs, administrators have said.', ""Eleven stores will close by 19 April, administrators for the brand's owner said, leading to 120 job losses."", 'In addition, 25 head office roles will go, and four stores that had been set to close prior to the administration will shut shortly, affecting 100 posts.', ""The firm behind Ted Baker's UK shops, No Ordinary Designer Label (NODL), hired administrators last month."", 'When it fell into administration, Ted Baker had about 975 employees in the UK and ran 46 shops, plus an e-commerce platform and department store concessions.', 'US firm Authentic Brands Group owns the intellectual property to Ted Baker, with NODL the holding company for the brand in the UK.', 'When NODL fell into administration itself last month, Authentic Brands said the ""damage done"" during a tie-up with another firm was ""too much to overcome"".', 'It said NODL had ""built up a significant level of arrears"" through a partnership with Dutch firm AARC, which ended in January this year.', 'The administrators said the stores scheduled to close ""have no prospect of being returned to profitability, even with material rent reductions"".', 'Danni Hewson, head of financial analysis at investment platform AJ Bell said although the Ted Baker brand did ""still chime"" with consumers, ""the sound is dull and for many younger shoppers their engagement is limited to fragrance and underwear"".', 'She suggested Next could be in the running to acquire the fashion chain. ""', 'Next already has a relationship with the brand and no one would be surprised to see it subsume the company into its family, especially now the business has been slimmed down,"" Ms Hewson added.', 'Meanwhile, joint administrator Benji Dymant said: ""Ted Baker is an iconic British brand with strong partners around the world. ""', 'These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.""', 'The 11 stores closing by 19 April are: The four stores that are set to close ""in the coming weeks"" are: Ted Baker began as a menswear brand in Glasgow in 1988, and grew to have shops across the UK and in the United States.', 'It also has licensing agreements in place for stores in cities in Asia and the Middle East.', 'Are you affected by the issues raised in this story?', 'Share your experiences by emailing haveyoursay@bbc.co.uk.', 'Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk."", 'Please include your name, age and location with any submission.']",0.094643484200579,"These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.""","When NODL fell into administration itself last month, Authentic Brands said the ""damage done"" during a tie-up with another firm was ""too much to overcome"".",-0.1099107265472412,"These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.""","Eleven stores will close by 19 April, administrators for the brand's owner said, leading to 120 job losses.",2024-04-11 -Post Office scandal explained: What the Horizon saga is all about,https://www.bbc.co.uk/news/business-56718036,2021-04-21T23:08:36.000Z,"New legislation will clear and compensate sub-postmasters who were the victims of what has been called the UK's most widespread miscarriage of justice. Hundreds were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts. More than 900 sub-postmasters were wrongly prosecuted for stealing because of incorrect information from a computer system called Horizon. The Post Office itself took many cases to court, prosecuting 700 people between 1999 and 2015. Another 283 cases were brought by other bodies, including the Crown Prosecution Service (CPS). Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined. In 2017, a group of 555 sub-postmasters took legal action against the Post Office. In 2019, it agreed to pay them £58m in compensation, but much of the money went on legal fees. A draft report uncovered by the BBC showed the Post Office spent £100m fighting the group in court despite knowing its defence was untrue. The Post Office said it would be ""inappropriate"" to comment on the report. Although campaigners won the right for their cases to be reconsidered, only 95 convictions had been overturned by mid-January 2024. The Criminal Cases Review Commission said the scandal was ""the most widespread miscarriage of justice"" it had seen. The Metropolitan Police is also investigating the Post Office over potential fraud offences. Horizon was developed by the Japanese company Fujitsu, for tasks such as accounting and stocktaking. It was introduced by the Post Office in 1999. Sub-postmasters quickly complained about bugs in the system after it falsely reported shortfalls - often for many thousands of pounds - but their concerns were dismissed. The Horizon system is still used by the Post Office, which describes the latest version as ""robust"". A public inquiry began in February 2021 and has heard evidence from Post Office and Fujitsu employees. It resumed on Tuesday 9 April, with campaigner Alan Bates the first to appear. This fifth phase of the inquiry is expected to last several weeks, with former Post Office chief executives Paula Vennells and Adam Crozier set to give evidence. The inquiry will also hear from Lord Arbuthnot, who is a member of the Horizon Compensation Advisory Board, as well as several politicians who have overseen the work of the Post Office. Mr Bates was the inspiration for the ITV drama series Mr Bates vs The Post Office, which was broadcast in January 2024. Days later, the government announced new plans to clear and compensate those affected. Mr Bates told the inquiry that the Post Office has spent 23 years trying to ""discredit and silence"" him. Many former sub-postmasters and sub-postmistresses say the scandal ruined their lives. Some used their own money to cover non-existent shortfalls because their contracts said they were responsible for unexplained losses. Many faced bankruptcy or lost their livelihoods. Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death. In January, the government said it would ""swiftly exonerate and compensate"" those affected. New legislation was introduced on 13 March to speed up clearing victims' names and paying compensation. The law, which applies to convictions in England and Wales, is expected to clear most victims by the end of July. Convictions will be automatically quashed if they were: The government said a new scheme will process compensation applications ""as soon as possible"" for those whose convictions are quashed. Affected sub-postmasters will receive an interim payment, or can instead accept a fixed and final offer of £600,000. Downing Street previously said it would work with Scotland and Northern Ireland to ensure people wrongly accused in those nations would also be cleared. Post Office Minister Kevin Hollinrake previously said the government has budgeted £1bn for compensation. More than 4,000 people were told they are eligible, under three schemes: Prof Chris Hodges, chair of the the independent Horizon Compensation Advisory Board, told the BBC that some individual compensation claims were ""well over £1m"". Former Post Office chief executive Ms Vennells resigned in 2019 over the scandal. In January 2024, she said she would hand back her CBE. In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry. Fujitsu Europe director Paul Patterson previously told the Post Office inquiry that the firm had a ""moral obligation"" to help fund compensation payments. Lib Dem leader Sir Ed Davey has been criticised for refusing to meet Mr Bates when he was postal affairs minister in May 2010. He says he was ""deeply misled by Post Office executives"". The BBC discovered that former Prime Minister David Cameron's government knew the Post Office had dropped a secret investigation that might have helped postmasters prove their innocence. Separately, Business Secretary Kemi Badenoch denied claims from former Post Office chairman Henry Staunton that he was told to delay compensation payments to allow the government to ""limp into the [next] election"". ",BBC,21/04/2021,"[""New legislation will clear and compensate sub-postmasters who were the victims of what has been called the UK's most widespread miscarriage of justice."", 'Hundreds were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts.', 'More than 900 sub-postmasters were wrongly prosecuted for stealing because of incorrect information from a computer system called Horizon.', 'The Post Office itself took many cases to court, prosecuting 700 people between 1999 and 2015.', 'Another 283 cases were brought by other bodies, including the Crown Prosecution Service (CPS).', 'Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined.', 'In 2017, a group of 555 sub-postmasters took legal action against the Post Office.', 'In 2019, it agreed to pay them £58m in compensation, but much of the money went on legal fees.', 'A draft report uncovered by the BBC showed the Post Office spent £100m fighting the group in court despite knowing its defence was untrue.', 'The Post Office said it would be ""inappropriate"" to comment on the report.', 'Although campaigners won the right for their cases to be reconsidered, only 95 convictions had been overturned by mid-January 2024.', 'The Criminal Cases Review Commission said the scandal was ""the most widespread miscarriage of justice"" it had seen.', 'The Metropolitan Police is also investigating the Post Office over potential fraud offences.', 'Horizon was developed by the Japanese company Fujitsu, for tasks such as accounting and stocktaking.', 'It was introduced by the Post Office in 1999.', 'Sub-postmasters quickly complained about bugs in the system after it falsely reported shortfalls - often for many thousands of pounds - but their concerns were dismissed.', 'The Horizon system is still used by the Post Office, which describes the latest version as ""robust"".', 'A public inquiry began in February 2021 and has heard evidence from Post Office and Fujitsu employees.', 'It resumed on Tuesday 9 April, with campaigner Alan Bates the first to appear.', 'This fifth phase of the inquiry is expected to last several weeks, with former Post Office chief executives Paula Vennells and Adam Crozier set to give evidence.', 'The inquiry will also hear from Lord Arbuthnot, who is a member of the Horizon Compensation Advisory Board, as well as several politicians who have overseen the work of the Post Office.', 'Mr Bates was the inspiration for the ITV drama series Mr Bates vs The Post Office, which was broadcast in January 2024.', 'Days later, the government announced new plans to clear and compensate those affected.', 'Mr Bates told the inquiry that the Post Office has spent 23 years trying to ""discredit and silence"" him.', 'Many former sub-postmasters and sub-postmistresses say the scandal ruined their lives.', 'Some used their own money to cover non-existent shortfalls because their contracts said they were responsible for unexplained losses.', 'Many faced bankruptcy or lost their livelihoods.', 'Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.', 'In January, the government said it would ""swiftly exonerate and compensate"" those affected.', ""New legislation was introduced on 13 March to speed up clearing victims' names and paying compensation."", 'The law, which applies to convictions in England and Wales, is expected to clear most victims by the end of July.', 'Convictions will be automatically quashed if they were: The government said a new scheme will process compensation applications ""as soon as possible"" for those whose convictions are quashed.', 'Affected sub-postmasters will receive an interim payment, or can instead accept a fixed and final offer of £600,000.', 'Downing Street previously said it would work with Scotland and Northern Ireland to ensure people wrongly accused in those nations would also be cleared.', 'Post Office Minister Kevin Hollinrake previously said the government has budgeted £1bn for compensation.', 'More than 4,000 people were told they are eligible, under three schemes: Prof Chris Hodges, chair of the the independent Horizon Compensation Advisory Board, told the BBC that some individual compensation claims were ""well over £1m"".', 'Former Post Office chief executive Ms Vennells resigned in 2019 over the scandal.', 'In January 2024, she said she would hand back her CBE.', 'In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.', 'Fujitsu Europe director Paul Patterson previously told the Post Office inquiry that the firm had a ""moral obligation"" to help fund compensation payments.', 'Lib Dem leader Sir Ed Davey has been criticised for refusing to meet Mr Bates when he was postal affairs minister in May 2010.', 'He says he was ""deeply misled by Post Office executives"".', ""The BBC discovered that former Prime Minister David Cameron's government knew the Post Office had dropped a secret investigation that might have helped postmasters prove their innocence."", 'Separately, Business Secretary Kemi Badenoch denied claims from former Post Office chairman Henry Staunton that he was told to delay compensation payments to allow the government to ""limp into the [next] election"".']",-0.0503384031934611,"In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",-0.7225653827190399,"In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",2024-04-11 -UK passport: How much does it cost to get or renew and what is the 10-year rule?,https://www.bbc.co.uk/news/business-68675348,2024-03-28T09:28:04.000Z,"The price of a getting or renewing a UK passport has risen for the second time in 14 months. Meanwhile, UK holidaymakers travelling to the EU are being warned not to get caught out by the ""10-year rule"". It now costs £88.50 to get, renew or replace your passport if you apply online, up from £82.50, or £100 for a postal application, up from £93. An online application for a child's passport costs £57.50, up from £53.50, or £69 via post, up from £64. It costs more if you apply from abroad, or if you require a passport urgently. Passports are free for people born on or before 2 September 1929. The increased fees apply to both new passport applications and renewals. You must renew your passport before you travel if either: How much time you need on your passport depends on where you are going. You can check entry requirements for individual countries on the UK government's website. You can renew online at HM Passport Office or by filling in a paper application from certain Post Offices. You'll need your old passport and any valid passports you hold from a different country. For online applications, you'll also need a digital photo that meets specific requirements. For paper applications, you need two identical printed photos. The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details. It should take up to three weeks to renew a passport in the UK, but it can take longer during periods of high demand, such as before school holidays. To get a passport issued urgently in the UK, you can book an appointment at your nearest passport office, subject to availability. It then takes up to a week to be issued. You can get more information on the Passport Office website or you can call the helpline on 0300 222 0000. The line is open 08:00 to 20:00, Monday to Friday, and 09:00 to 17:30 on Saturday, Sunday and UK bank holidays. Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel. UK travellers used to be able to carry up to nine months left on an old passport over to a new one. This meant that a passport could be valid for more than 10 years. But the rules changed after Brexit, and the majority of EU countries no longer accept British passports that were issued more than 10 years before the date of travel. This is known as the ""10-year rule"". To enter those countries now, your UK passport must: If your passport does not meet these requirements, you will be refused entry. The rules apply in all 27 EU countries, except Ireland, which has its own separate travel arrangements with the UK. They also apply to passengers traveling to Iceland, Norway and Liechtenstein - which are part of the European Economic Area (EEA) - and Switzerland. ",BBC,28/03/2024,"['The price of a getting or renewing a UK passport has risen for the second time in 14 months.', 'Meanwhile, UK holidaymakers travelling to the EU are being warned not to get caught out by the ""10-year rule"".', 'It now costs £88.50 to get, renew or replace your passport if you apply online, up from £82.50, or £100 for a postal application, up from £93.', ""An online application for a child's passport costs £57.50, up from £53.50, or £69 via post, up from £64."", 'It costs more if you apply from abroad, or if you require a passport urgently.', 'Passports are free for people born on or before 2 September 1929.', 'The increased fees apply to both new passport applications and renewals.', 'You must renew your passport before you travel if either: How much time you need on your passport depends on where you are going.', ""You can check entry requirements for individual countries on the UK government's website."", 'You can renew online at HM Passport Office or by filling in a paper application from certain Post Offices.', ""You'll need your old passport and any valid passports you hold from a different country."", ""For online applications, you'll also need a digital photo that meets specific requirements."", 'For paper applications, you need two identical printed photos.', 'The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details.', 'It should take up to three weeks to renew a passport in the UK, but it can take longer during periods of high demand, such as before school holidays.', 'To get a passport issued urgently in the UK, you can book an appointment at your nearest passport office, subject to availability.', 'It then takes up to a week to be issued.', 'You can get more information on the Passport Office website or you can call the helpline on 0300 222 0000.', 'The line is open 08:00 to 20:00, Monday to Friday, and 09:00 to 17:30 on Saturday, Sunday and UK bank holidays.', 'Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel.', 'UK travellers used to be able to carry up to nine months left on an old passport over to a new one.', 'This meant that a passport could be valid for more than 10 years.', 'But the rules changed after Brexit, and the majority of EU countries no longer accept British passports that were issued more than 10 years before the date of travel.', 'This is known as the ""10-year rule"".', 'To enter those countries now, your UK passport must: If your passport does not meet these requirements, you will be refused entry.', 'The rules apply in all 27 EU countries, except Ireland, which has its own separate travel arrangements with the UK.', 'They also apply to passengers traveling to Iceland, Norway and Liechtenstein - which are part of the European Economic Area (EEA) - and Switzerland.']",0.0223004154792272,Passports are free for people born on or before 2 September 1929.,"The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details.",0.5654839724302292,"An online application for a child's passport costs £57.50, up from £53.50, or £69 via post, up from £64.",Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel.,2024-04-11 -Jamie Dimon: Bank boss warns US interest rates could rise to 8%,https://www.bbc.co.uk/news/business-68769561,2024-04-09T09:44:35.000Z,"The boss of one of the world's biggest banks has warned US interest rates could climb to 8%. Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of ""persistent inflationary pressures"". Central banks around the world have been busy raising rates in a bid to dampen rising prices. But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year. Markets are pricing in two quarter-point rate cuts in 2024. In his annual letter to shareholders, Mr Dimon said that the bank was ready for a ""very broad range"" of rates, from 2% to 8% or even higher, potentially pushed up because of high government spending and the need to curb price rises. Mr Dimon's comments come as US interest rates rest in the range of 5.25% to 5.5% - higher than they have been for more than 20 years. By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices. Mr Dimon has long warned that investors may be overly confident in their bet that interest rates will rapidly fall back to lower levels. Last year he suggested rates could hit 7%. ""All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year's letter. The US Federal Reserve will make its next decision on which way interest rates will move at the end of the month. The expectation is that it will hold rates at the current level with the first cut potentially coming in June. The European Central Bank is also expected to make its first cut in June. On Tuesday, some analysts questioned, however, whether rate cuts lie in store for the summer in the US. To date, higher borrowing costs have not been the big drag on the US economy that they were expected to be. Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace. The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts. In a speech delivered at Stanford University at the beginning of April, the Federal Reserve chair Jay Powell said: ""If the economy evolves broadly as we expect, most Federal Open Market Committee participants see it as likely to be appropriate to begin lowering the policy rate at some point this year."" Mr Dimon has been chief executive of JPMorgan Chase since the end of 2005. One year later he also became chairman and president of the bank. He is the longest-serving chief executive of a major investment bank. In his letter to shareholders, he also said that he sees the United States as being at a ""pivotal moment"" in the midst of global uncertainty. ",BBC,09/04/2024,"[""The boss of one of the world's biggest banks has warned US interest rates could climb to 8%."", 'Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of ""persistent inflationary pressures"".', 'Central banks around the world have been busy raising rates in a bid to dampen rising prices.', 'But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year.', 'Markets are pricing in two quarter-point rate cuts in 2024.', 'In his annual letter to shareholders, Mr Dimon said that the bank was ready for a ""very broad range"" of rates, from 2% to 8% or even higher, potentially pushed up because of high government spending and the need to curb price rises.', ""Mr Dimon's comments come as US interest rates rest in the range of 5.25% to 5.5% - higher than they have been for more than 20 years."", 'By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices.', 'Mr Dimon has long warned that investors may be overly confident in their bet that interest rates will rapidly fall back to lower levels.', 'Last year he suggested rates could hit 7%. ""', 'All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year\'s letter.', 'The US Federal Reserve will make its next decision on which way interest rates will move at the end of the month.', 'The expectation is that it will hold rates at the current level with the first cut potentially coming in June.', 'The European Central Bank is also expected to make its first cut in June.', 'On Tuesday, some analysts questioned, however, whether rate cuts lie in store for the summer in the US.', 'To date, higher borrowing costs have not been the big drag on the US economy that they were expected to be.', 'Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace.', 'The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts.', 'In a speech delivered at Stanford University at the beginning of April, the Federal Reserve chair Jay Powell said: ""If the economy evolves broadly as we expect, most Federal Open Market Committee participants see it as likely to be appropriate to begin lowering the policy rate at some point this year.""', 'Mr Dimon has been chief executive of JPMorgan Chase since the end of 2005.', 'One year later he also became chairman and president of the bank.', 'He is the longest-serving chief executive of a major investment bank.', 'In his letter to shareholders, he also said that he sees the United States as being at a ""pivotal moment"" in the midst of global uncertainty.']",0.041136728252818,"By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices.","Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace.",0.376718323964339,"The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts.","All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year's letter.",2024-04-11 -John Lewis names former Tesco UK boss Jason Tarry as new chairman,https://www.bbc.co.uk/news/business-68760475,2024-04-08T09:10:36.000Z,"John Lewis has said the former boss of Tesco's UK business, Jason Tarry, will become its next chairman. Mr Tarry will start in September, taking over from Dame Sharon White who said last year that she would be standing down at the end of her term. The partnership, which includes the John Lewis department stores and Waitrose supermarkets, has come under increasing pressure in recent years. It has closed stores and cut jobs, but recently announced a return to profit. Mr Tarry, who will become only the seventh chairman of John Lewis, said it was a ""great privilege"" to lead the company. Dame Sharon was the first woman to lead John Lewis, but when she announced in October that she would step down after five years in the role, it made her the shortest-serving boss in the partnership's near 100-year history. Her predecessors had each served between 13 and 26 years. Dame Sharon's appointment made her one of the few black women leading a major UK business. However, she faced controversy after considering breaking the historic employee-owned structure of the partnership, and she was also criticised by some for her lack of retail experience. But in an interview with the BBC in June last year, Dame Sharon defended her background, noting that some of her predecessors at John Lewis had also come from outside the retail sector. Rita Clifton, deputy chairman and chair of John Lewis's nomination committee, said: ""The board extends its huge thanks to Sharon for successfully leading the partnership through one of the most testing periods in its history - first Covid and then the cost-of-living crisis. ""She has faced the toughest decisions and overseen the partnership's financial recovery; we are in good financial health with a return to profit, and have a strong balance sheet with record investment planned this year."" Last month, John Lewis reported full-year profits of £56m compared with a £234m loss the year before. Despite this, the partnership said it would not be paying a staff bonus for the second year in a row, which is only the third time it has not paid out such an award since 1953. Dame Sharon said: ""I'm delighted to be handing over to Jason, who has a combination of fantastic retail experience with leadership through transformation."" Mr Tarry had worked at Tesco for more than 33 years, with his most recent role being chief executive of the supermarket's UK and Ireland business. ""The partnership and its brands stand for trust, value, quality and service and it's a great privilege to be succeeding Sharon as the seventh chairman,"" Mr Tarry said. Zoe Mills, retail analyst at GlobalData, said Mr Tarry ""certainly has the experience and knowhow to rejuvenate the John Lewis Partnership"". However, she added that he would face a different challenge to that faced at Tesco, ""with Marks & Spencer, rather than the discounters, a clear threat to John Lewis's long-term success"". M&S is forecast to continue growing its share of clothing and footwear over the next few years, Ms Mills said, while it has also been growing its grocery sales, with Waitrose perceived to be losing out in the battle for premium food. ""Within Waitrose & Partners, Tarry must not lose sight of its more premium proposition,"" Ms Mills said. ""While remaining price-competitive will be crucial, as within general merchandise, the focus must be on quality and justifying higher price points to entice shoppers to trade up."" ",BBC,08/04/2024,"[""John Lewis has said the former boss of Tesco's UK business, Jason Tarry, will become its next chairman."", 'Mr Tarry will start in September, taking over from Dame Sharon White who said last year that she would be standing down at the end of her term.', 'The partnership, which includes the John Lewis department stores and Waitrose supermarkets, has come under increasing pressure in recent years.', 'It has closed stores and cut jobs, but recently announced a return to profit.', 'Mr Tarry, who will become only the seventh chairman of John Lewis, said it was a ""great privilege"" to lead the company.', ""Dame Sharon was the first woman to lead John Lewis, but when she announced in October that she would step down after five years in the role, it made her the shortest-serving boss in the partnership's near 100-year history."", 'Her predecessors had each served between 13 and 26 years.', ""Dame Sharon's appointment made her one of the few black women leading a major UK business."", 'However, she faced controversy after considering breaking the historic employee-owned structure of the partnership, and she was also criticised by some for her lack of retail experience.', 'But in an interview with the BBC in June last year, Dame Sharon defended her background, noting that some of her predecessors at John Lewis had also come from outside the retail sector.', 'Rita Clifton, deputy chairman and chair of John Lewis\'s nomination committee, said: ""The board extends its huge thanks to Sharon for successfully leading the partnership through one of the most testing periods in its history - first Covid and then the cost-of-living crisis. ""', 'She has faced the toughest decisions and overseen the partnership\'s financial recovery; we are in good financial health with a return to profit, and have a strong balance sheet with record investment planned this year.""', 'Last month, John Lewis reported full-year profits of £56m compared with a £234m loss the year before.', 'Despite this, the partnership said it would not be paying a staff bonus for the second year in a row, which is only the third time it has not paid out such an award since 1953.', 'Dame Sharon said: ""I\'m delighted to be handing over to Jason, who has a combination of fantastic retail experience with leadership through transformation.""', 'Mr Tarry had worked at Tesco for more than 33 years, with his most recent role being chief executive of the supermarket\'s UK and Ireland business. ""', 'The partnership and its brands stand for trust, value, quality and service and it\'s a great privilege to be succeeding Sharon as the seventh chairman,"" Mr Tarry said.', 'Zoe Mills, retail analyst at GlobalData, said Mr Tarry ""certainly has the experience and knowhow to rejuvenate the John Lewis Partnership"".', 'However, she added that he would face a different challenge to that faced at Tesco, ""with Marks & Spencer, rather than the discounters, a clear threat to John Lewis\'s long-term success"".', 'M&S is forecast to continue growing its share of clothing and footwear over the next few years, Ms Mills said, while it has also been growing its grocery sales, with Waitrose perceived to be losing out in the battle for premium food. ""', 'Within Waitrose & Partners, Tarry must not lose sight of its more premium proposition,"" Ms Mills said. ""', 'While remaining price-competitive will be crucial, as within general merchandise, the focus must be on quality and justifying higher price points to entice shoppers to trade up.""']",0.2548270006474369,"The partnership and its brands stand for trust, value, quality and service and it's a great privilege to be succeeding Sharon as the seventh chairman,"" Mr Tarry said.","However, she faced controversy after considering breaking the historic employee-owned structure of the partnership, and she was also criticised by some for her lack of retail experience.",0.4975835956059969,"M&S is forecast to continue growing its share of clothing and footwear over the next few years, Ms Mills said, while it has also been growing its grocery sales, with Waitrose perceived to be losing out in the battle for premium food. ""","However, she added that he would face a different challenge to that faced at Tesco, ""with Marks & Spencer, rather than the discounters, a clear threat to John Lewis's long-term success"".",2024-04-11 -Boeing hit after new whistleblower raises safety concerns,https://www.bbc.co.uk/news/business-68775413,2024-04-09T21:47:35.000Z,"Boeing is facing new pressure after a whistleblower reported safety concerns over the manufacturing of some of its planes to US regulators. Engineer Sam Salehpour accused Boeing of taking shortcuts in the construction of its 787 and 777 jets. He claimed he was ""threatened with termination"" after raising concerns with bosses. But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""The issues raised have been subject to rigorous engineering examination under [Federal Aviation Administration] oversight,"" the company said. ""This analysis has validated that these issues do not present any safety concerns and the aircraft will maintain its service life over several decades."" Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021. The whistleblower complaint, which was first reported by the New York Times, is the latest incident to focus attention on the safety of planes made by US-based Boeing, one of the world's two major producers of commercial planes. The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January. Passengers escaped serious injury but the incident has plunged the company into crisis, forcing a temporary grounding of dozens of 737 Max 9 planes, drawing regulatory probes and prompting Boeing to dramatically slow production of its planes. The company coming under intense scrutiny again led its chief executive David Calhoun to announce last month that he would step down by the end of the year. On Tuesday, attorneys for engineer Mr Salehpour said Boeing had made decisions for 787 aircraft assembly which placed stress on joints that linked up parts of the body of the jets, an issue affecting more than 1,000 planes. In a whistleblower complaint filed with the FAA in January, he alleged the method could reduce the lifespan of the plane. ""These problems are the direct result of Boeing's decision in recent years to prioritize profits over safety, and a regulator in the FAA that has become too deferential to industry,"" his lawyers, Debra Katz and Lisa Banks, said in a statement. The attorneys added Mr Salehpour had been transferred to work on the 777 plane after he raised concerns. They said he had soon observed other issues in the assembly of that plane. ""He was threatened with termination, excluded from important meetings, projects, and communication, denied reasonable requests for medical leave, assigned work outside of his expertise, and effectively declared persona non grata to his colleagues,"" they said. The 787 Dreamliner is a bigger plane than the 737, often used on international flights. It has been flying commercially since 2011, but almost from the start has been the target of quality complaints. Boeing eventually slowed production and stopped deliveries for almost two years, responding to issues that had been raised. The FAA in 2022 cleared Boeing to resume deliveries. The FAA, which has increased its oversight of Boeing since the door plug blowout in January, said in a statement that it encouraged people in the aviation industry to share information. ""We thoroughly investigate all reports,"" the agency said when asked about the report. ",BBC,09/04/2024,"['Boeing is facing new pressure after a whistleblower reported safety concerns over the manufacturing of some of its planes to US regulators.', 'Engineer Sam Salehpour accused Boeing of taking shortcuts in the construction of its 787 and 777 jets.', 'He claimed he was ""threatened with termination"" after raising concerns with bosses.', 'But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""', 'The issues raised have been subject to rigorous engineering examination under [Federal Aviation Administration] oversight,"" the company said. ""', 'This analysis has validated that these issues do not present any safety concerns and the aircraft will maintain its service life over several decades.""', 'Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021.', ""The whistleblower complaint, which was first reported by the New York Times, is the latest incident to focus attention on the safety of planes made by US-based Boeing, one of the world's two major producers of commercial planes."", 'The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January.', 'Passengers escaped serious injury but the incident has plunged the company into crisis, forcing a temporary grounding of dozens of 737 Max 9 planes, drawing regulatory probes and prompting Boeing to dramatically slow production of its planes.', 'The company coming under intense scrutiny again led its chief executive David Calhoun to announce last month that he would step down by the end of the year.', 'On Tuesday, attorneys for engineer Mr Salehpour said Boeing had made decisions for 787 aircraft assembly which placed stress on joints that linked up parts of the body of the jets, an issue affecting more than 1,000 planes.', 'In a whistleblower complaint filed with the FAA in January, he alleged the method could reduce the lifespan of the plane. ""', 'These problems are the direct result of Boeing\'s decision in recent years to prioritize profits over safety, and a regulator in the FAA that has become too deferential to industry,"" his lawyers, Debra Katz and Lisa Banks, said in a statement.', 'The attorneys added Mr Salehpour had been transferred to work on the 777 plane after he raised concerns.', 'They said he had soon observed other issues in the assembly of that plane. ""', 'He was threatened with termination, excluded from important meetings, projects, and communication, denied reasonable requests for medical leave, assigned work outside of his expertise, and effectively declared persona non grata to his colleagues,"" they said.', 'The 787 Dreamliner is a bigger plane than the 737, often used on international flights.', 'It has been flying commercially since 2011, but almost from the start has been the target of quality complaints.', 'Boeing eventually slowed production and stopped deliveries for almost two years, responding to issues that had been raised.', 'The FAA in 2022 cleared Boeing to resume deliveries.', 'The FAA, which has increased its oversight of Boeing since the door plug blowout in January, said in a statement that it encouraged people in the aviation industry to share information. ""', 'We thoroughly investigate all reports,"" the agency said when asked about the report.']",-0.087826611616349,"But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""","The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January.",-0.5008389143382802,"But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""","Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021.",2024-04-11 -Eclipse flights swarm airports: 'We had to close the runway to park planes',https://www.cnbc.com/2024/04/08/solar-eclipse-flights-swarm-small-airports.html,2024-04-08T22:58:57+0000,"Monday's solar eclipse is giving some of the country's smaller airports their moment in the sun.The Federal Aviation Administration reported arriving flights at airports from Burlington, Vermont, to southern Illinois were briefly halted Monday morning ahead of the total eclipse.Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday. The best views of the solar eclipse in the U.S. span from Texas through Illinois, Kentucky and Ohio to northwestern New York and Maine, according to NASA.FAA traffic adjustments give airports time to catch up and avoid airplane parking jams on the ground.""We had to close the runway to park planes,"" Alyssa Connell, head of operations at Southern Illinois Airport in Murphysboro, Illinois, told CNBC. The airport, which has three runways, took reservations for eclipse flights and on Friday reached its maximum threshold for 230 small propeller aircraft and about 45 larger jets and larger turboprops. ""This is by far the most aircraft we've ever seen.""Patrick Leahy Burlington International Airport in Vermont is scheduled to receive between 100 and 130 general aviation planes on Monday, said Dave Carman, deputy director of aviation operations. It's also expecting some scheduled commercial passenger jet traffic.""It's the most we've seen in a day,"" Carman said. ""It's going to be hectic getting out,"" he said.The eclipse was called out as a major event on the FAA's morning planning call at its command center in Warrenton, Virginia, according to an agency spokeswoman. Other common obstacles include presidential travel, severe weather or major sports and entertainment events.The FAA had previously warned pilots about possible disruptions and heavy traffic at a host of airports on or near the eclipse's path.Delta Air Lines sold special eclipse flights during which passengers could view it from the sky, one from Dallas/Fort Worth International Airport to Detroit and another from Austin, Texas, to Detroit.Other airlines have called out flights that could offer views of the eclipse along the ""path of totality."" United Airlines said bookings to San Antonio more than doubled around the eclipse compared with the same dates last year and surged in Cleveland and Little Rock, Arkansas.The eclipse is expected to be a boon for hotels, house rentals and other businesses as tourists swarm in.",CNBC,08/04/2024,"[""Monday's solar eclipse is giving some of the country's smaller airports their moment in the sun."", 'The Federal Aviation Administration reported arriving flights at airports from Burlington, Vermont, to southern Illinois were briefly halted Monday morning ahead of the total eclipse.', 'Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday.', 'The best views of the solar eclipse in the U.S. span from Texas through Illinois, Kentucky and Ohio to northwestern New York and Maine, according to NASA.FAA traffic adjustments give airports time to catch up and avoid airplane parking jams on the ground.', '""We had to close the runway to park planes,"" Alyssa Connell, head of operations at Southern Illinois Airportin Murphysboro, Illinois, told CNBC.', 'The airport, which has three runways, took reservations for eclipse flights and on Friday reached its maximum threshold for 230 small propeller aircraft and about 45 larger jets andlarger turboprops. ""', ""This is by far the most aircraft we've ever seen."", '""Patrick Leahy Burlington International Airport in Vermont is scheduled to receive between 100 and 130 general aviation planes on Monday, said Dave Carman, deputy director of aviation operations.', ""It's also expecting some scheduled commercial passenger jet traffic."", '""It\'s the most we\'ve seen in a day,"" Carman said. ""', 'It\'s going to be hectic getting out,"" he said.', ""The eclipse was called out as a major event on the FAA's morning planning call at its command center in Warrenton, Virginia, according to an agency spokeswoman."", 'Other common obstacles include presidential travel, severe weather or major sports and entertainment events.', ""The FAA had previouslywarned pilotsabout possible disruptions and heavy traffic at a host of airports on or near the eclipse's path."", 'Delta Air Lines sold special eclipse flights during which passengers could view it from the sky, one from Dallas/Fort Worth International Airport to Detroit and another from Austin, Texas, to Detroit.', 'Other airlines have called out flights that could offer views of the eclipse along the ""path of totality.""', 'United Airlines said bookings to San Antonio more than doubled around the eclipse compared with the same dates last year and surged in Cleveland and Little Rock, Arkansas.', 'The eclipse is expected to be a boon for hotels, house rentals and other businesses as tourists swarm in.']",0.0381660378961861,"Delta Air Lines sold special eclipse flights during which passengers could view it from the sky, one from Dallas/Fort Worth International Airport to Detroit and another from Austin, Texas, to Detroit.","Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday.",0.1714410015514918,"United Airlines said bookings to San Antonio more than doubled around the eclipse compared with the same dates last year and surged in Cleveland and Little Rock, Arkansas.","Such disruptions are routinely caused by bad weather and heavy traffic in big-city hubs, but high demand for prime views of the phenomenon jammed some smaller airports on Monday.",2024-04-10 -"Boeing CEO Calhoun took home $5 million last year, compensation package hit by Max crisis",https://www.cnbc.com/2024/04/05/boeing-ceo-calhoun-took-home-5-million-last-year-ahead-of-737-max-crisis.html,2024-04-06T00:35:25+0000,"In this articleOutgoing Boeing CEO Dave Calhoun's take-home pay fell to $5 million last year after declining a bonus, compared with $7 million in 2022, and his latest compensation package is taking a hit from the prolonged safety crisis surrounding the company's bestselling jetliner, the 737 Max.Calhoun's total compensation last year rose 45% to $32.8 million, up from $22.6 million in the prior year. But Boeing said the 2023 sum is closer to $23.5 million, as it includes long-term incentives such as stock. Shares of the plane-maker are down almost 30% this year.Total compensation for Stan Deal, whom Boeing last month replaced at the top of the commercial airplanes division, rose 42% to $12.5 million.Calhoun last month said he would step down by the end of the year. His departure is part of a broad shake-up in which the company also replaced its chairman and head of its commercial airplane unit. The manufacturer is grappling with the fallout of a door plug panel that blew out midair from a 737 Max operated by Alaska Airlines in January.Boeing disclosed the take-home pay, which did not include a 2023 bonus Calhoun declined that was valued at $2.8 million, and executive compensation in a filing Friday. The company said it will now more closely tie executive compensation to safety goals.""I promise that I personally, and we as a Board, will leave no stone unturned in our efforts to get this company where it needs to be,"" newly named Boeing Chairman Steve Mollenkopf said in a message to shareholders in a filing Friday.The Jan. 5 accident has slowed deliveries of new jets and Boeing has said it will burn more cash than it previously expected. The company is scheduled to release first-quarter results April 24.Calhoun took the helm at Boeing in January 2020 after his predecessor was ousted for his handling of the aftermath of two fatal crashes of the 737 Max. In addition to the Covid-19 pandemic's devastating effect on the aviation industry, Boeing has also had a host of quality defects on its aircraft. Those have slowed deliveries of new planes to customers clamoring for fresh jets as travel snapped back, hurting Boeing's cash flow.The Alaska Airlines door plug near-catastrophe was the most serious issue since the crashes. The Justice Department is investigating the Alaska Airlines accident and the Federal Aviation Administration has capped Boeing's 737 Max production until it signs off on Boeing's quality control.Boeing said on Friday that ""operational performance metrics for all business units will be focused exclusively on quality and safety goals"" this year and that long-term executive incentives could be reduced to zero if goals are not met.Boeing last posted an annual profit in 2018.Clarification: CEO Dave Calhoun's total 2023 compensation is closer to $23.5 million. An earlier version contained a figure that was later updated by Boeing.",CNBC,06/04/2024,"[""In this articleOutgoing Boeing CEO Dave Calhoun's take-home pay fell to $5 million last year after declining a bonus, compared with $7 million in 2022, and his latest compensation package is taking a hit from the prolonged safety crisis surrounding the company's bestselling jetliner, the 737 Max."", ""Calhoun's total compensation last year rose 45% to $32.8 million, up from $22.6 million in the prior year."", 'But Boeing said the 2023 sum is closer to $23.5 million, as it includes long-term incentives such as stock.', 'Shares of the plane-maker are down almost 30% this year.', 'Total compensation for Stan Deal, whom Boeing last month replaced at the top of the commercial airplanes division, rose 42% to $12.5 million.', 'Calhoun last month said he would step down by the end of the year.', 'His departure is part of a broad shake-up in which the company also replaced its chairman and head of its commercial airplane unit.', 'The manufacturer is grappling with the fallout of a door plug panel that blew out midair from a 737 Max operated by Alaska Airlines in January.', 'Boeing disclosed the take-home pay, which did not include a 2023 bonus Calhoun declined that was valued at $2.8 million, and executive compensation in a filing Friday.', 'The company said it will now more closely tie executive compensation to safety goals.', '""I promise that I personally, and we as a Board, will leave no stone unturned in our efforts to get this company where it needs to be,"" newly named Boeing Chairman Steve Mollenkopf said in a message to shareholders in a filing Friday.', 'The Jan. 5 accident has slowed deliveries of new jets and Boeing has said it will burn more cash than it previously expected.', 'The company is scheduled to release first-quarter results April 24.Calhoun took the helm at Boeing in January 2020 after his predecessor was ousted for his handling of the aftermath of two fatal crashes of the 737 Max.', ""In addition to the Covid-19 pandemic's devastating effect on the aviation industry, Boeing has also had a host of quality defects on its aircraft."", ""Those have slowed deliveries of new planes to customers clamoring for fresh jets as travel snapped back, hurting Boeing's cash flow."", 'The Alaska Airlines door plug near-catastrophe was the most serious issue since the crashes.', ""The Justice Department is investigating the Alaska Airlines accident and the Federal Aviation Administration has capped Boeing's 737 Max production until it signs off on Boeing's quality control."", 'Boeing said on Friday that ""operational performance metrics for all business units will be focused exclusively on quality and safety goals"" this year and that long-term executive incentives could be reduced to zero if goals are not met.', ""Boeing last posted an annual profit in 2018.Clarification: CEO Dave Calhoun's total 2023 compensation is closer to $23.5 million."", 'An earlier version contained a figure that was later updated by Boeing.']",0.0372878203927185,"Boeing said on Friday that ""operational performance metrics for all business units will be focused exclusively on quality and safety goals"" this year and that long-term executive incentives could be reduced to zero if goals are not met.","In addition to the Covid-19 pandemic's devastating effect on the aviation industry, Boeing has also had a host of quality defects on its aircraft.",-0.5336477292908562,"Total compensation for Stan Deal, whom Boeing last month replaced at the top of the commercial airplanes division, rose 42% to $12.5 million.","In this articleOutgoing Boeing CEO Dave Calhoun's take-home pay fell to $5 million last year after declining a bonus, compared with $7 million in 2022, and his latest compensation package is taking a hit from the prolonged safety crisis surrounding the company's bestselling jetliner, the 737 Max.",2024-04-10 -"Jamie Dimon says AI may be as impactful on humanity as printing press, electricity and computers",https://www.cnbc.com/2024/04/08/jamie-dimon-says-ai-may-be-as-impactful-on-humanity-as-printing-press-electricity-and-computers.html,2024-04-08T14:46:42+0000,"In this articleJamie Dimon, the veteran CEO and chairman of JPMorgan Chase, said he was convinced that artificial intelligence will have a profound impact on society.In his annual letter to shareholders released Monday, Dimon chose AI as the first topic in his update of issues facing the biggest U.S. bank by assets — ahead of geopolitical risks, recent acquisitions and regulatory matters.""While we do not know the full effect or the precise rate at which AI will change our business — or how it will affect society at large — we are completely convinced the consequences will be extraordinary,"" Dimon said.The impact will be ""possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet.""Dimon's letter, read widely in the business world because of his status as one of the most successful leaders in finance, hit a wide variety of topics. The CEO said that he had ongoing concerns about inflationary pressures and reiterated his warning that the world may be entering the riskiest era in geopolitics since World War II.But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out. The technology, which has gained in prominence since OpenAI's ChatGPT became a viral sensation in late 2022, can generate human-sounding responses to queries. Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.  JPMorgan now has more than 2,000 AI and machine learning employees and data scientists working on 400 applications including fraud detection, marketing and risk controls, Dimon said. The bank is also exploring the use of generative AI in software engineering, customer service and ways to boost employee productivity, he said.The technology could ultimately touch all of the bank's roughly 310,000 employees, assisting some workers while replacing others, and forcing the company to retrain workers for new roles.""Over time, we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition,"" Dimon said. ""It may reduce certain job categories or roles, but it may create others as well.""Here are excerpts from Dimon's letter:""Many key economic indicators today continue to be good and possibly improving, including inflation. But when looking ahead to tomorrow, conditions that will affect the future should be considered... All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure.""""Equity values, by most measures, are at the high end of the valuation range, and credit spreads are extremely tight. These markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates. I believe the odds are a lot lower than that.""""If long-end rates go up over 6% and this increase is accompanied by a recession, there will be plenty of stress — not just in the banking system but with leveraged companies and others. Remember, a simple 2 percentage point increase in rates essentially reduced the value of most financial assets by 20%, and certain real estate assets, specifically office real estate, may be worth even less due to the effects of recession and higher vacancies. Also remember that credit spreads tend to widen, sometimes dramatically, in a recession.""""There is little real collaboration between practitioners — the banks — and regulators, who generally have not been practitioners in business…. Unfortunately, without collaboration and sufficient analysis, it is hard to be confident that regulation will accomplish desired outcomes without undesirable consequences. Instead of constantly improving the system, we may be making it worse.""""Russia's invasion of Ukraine and the subsequent abhorrent attack on Israel and ongoing violence in the Middle East should have punctured many assumptions about the direction of future safety and security, bringing us to this pivotal time in history. America and the free Western world can no longer maintain a false sense of security based on the illusion that dictatorships and oppressive nations won't use their economic and military powers to advance their aims — particularly against what they perceive as weak, incompetent and disorganized Western democracies. In a troubled world, we are reminded that national security is and always will be paramount, even if its importance seems to recede in tranquil times.""""One common sense and modest step would be for social media companies to further empower platform users' control over what they see and how it is presented, leveraging existing tools and features — like the alternative feed algorithm settings some offer today. I believe many users (not just parents) would appreciate a greater ability to more carefully curate their feeds; for example, prioritizing educational content for their children.""""The acquisition of a major company entails a lot of complexity. People tend to focus on the financial and economic outcomes, which is a reasonable thing to do. And in the case of First Republic, the numbers look rather good. We recorded an accounting gain of $3 billion on the purchase, and we told the world we expected to add more than $500 million to earnings annually, which we now believe will be closer to $2 billion.""JPMorgan acquired most of the assets of First Republic last year for more than $10 billion after regulators seized the firm amid the regional banking crisis.",CNBC,08/04/2024,"['In this articleJamie Dimon, the veteran CEO and chairman of JPMorgan Chase, said he was convinced that artificial intelligence will have a profound impact on society.', 'In his annual letter to shareholders released Monday, Dimon chose AI as the first topic in his update of issues facing the biggest U.S. bank by assets — ahead of geopolitical risks, recent acquisitions and regulatory matters.', '""While we do not know the full effect or the precise rate at which AI will change our business — or how it will affect society at large — we are completely convinced the consequences will be extraordinary,"" Dimon said.', 'The impact will be ""possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet.', '""Dimon\'s letter, read widely in the business world because of his status as one of the most successful leaders in finance, hit a wide variety of topics.', ""The CEO said that he had ongoing concerns about inflationary pressures and reiterated his warning that the world may be entering the riskiest era in geopolitics since World War II.But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out."", ""The technology, which has gained in prominence since OpenAI's ChatGPT became a viral sensation in late 2022, can generate human-sounding responses to queries."", 'Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.', 'JPMorgan now has more than 2,000 AI and machine learning employees and data scientists working on 400 applications including fraud detection, marketing and risk controls, Dimon said.', 'The bank is also exploring the use of generative AI in software engineering, customer service and ways to boost employee productivity, he said.', ""The technology could ultimately touch all of the bank's roughly 310,000 employees, assisting some workers while replacing others, and forcing the company to retrain workers for new roles."", '""Over time, we anticipate that our use of AI has the potential to augment virtually every job, as well as impact our workforce composition,"" Dimon said. ""', 'It may reduce certain job categories or roles, but it may create others as well.', '""Here are excerpts from Dimon\'s letter:""Many key economic indicatorstodaycontinue to be good and possibly improving, including inflation.', 'But when looking ahead totomorrow, conditions that will affect the future should be considered... All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs in the future (even though there currently is an oversupply of gas and plentiful spare capacity in oil) due to a lack of needed investment in the energy infrastructure.', '""""Equity values, by most measures, are at the high end of the valuation range, and credit spreads are extremely tight.', 'These markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates.', 'I believe the odds are a lot lower than that.', '""""If long-end rates go up over 6% and this increase is accompanied by a recession, there will be plenty of stress — not just in the banking system but with leveraged companies and others.', 'Remember, a simple 2 percentage point increase in rates essentially reduced the value of most financial assets by 20%, and certain real estate assets, specifically office real estate, may be worth even less due to the effects of recession and higher vacancies.', 'Also remember that credit spreads tend to widen, sometimes dramatically, in a recession.', '""""There is little real collaboration between practitioners — the banks — and regulators, who generally have not been practitioners in business….', 'Unfortunately, without collaboration and sufficient analysis, it is hard to be confident that regulation will accomplish desired outcomes without undesirable consequences.', 'Instead of constantly improving the system, we may be making it worse.', '""""Russia\'s invasion of Ukraine and the subsequent abhorrent attack on Israel and ongoing violence in the Middle East should have punctured many assumptions about the direction of future safety and security, bringing us to this pivotal time in history.', ""America and the free Western world can no longer maintain a false sense of security based on the illusion that dictatorships and oppressive nations won't use their economic and military powers to advance their aims — particularly against what they perceive as weak, incompetent and disorganized Western democracies."", 'In a troubled world, we are reminded that national security is and always will be paramount, even if its importance seems to recede in tranquil times.', '""""One common sense and modest step would be for social media companies to further empower platform users\' control over what they see and how it is presented, leveraging existing tools and features — like the alternative feed algorithm settings some offer today.', 'I believe many users (not just parents) would appreciate a greater ability to more carefully curate their feeds; for example, prioritizing educational content for their children.', '""""The acquisition of a major company entails a lot of complexity.', 'People tend to focus on the financial and economic outcomes, which is a reasonable thing to do.', 'And in the case of First Republic, the numbers look rather good.', 'We recorded an accountinggain of $3 billion on the purchase, and we told the world we expected to add more than $500 million to earnings annually, which we now believe will be closer to $2 billion.', '""JPMorgan acquired most of the assets of First Republic last year for more than $10 billion after regulators seized the firm amid the regional banking crisis.']",0.1597391741300232,"I believe many users (not just parents) would appreciate a greater ability to more carefully curate their feeds; for example, prioritizing educational content for their children.","The CEO said that he had ongoing concerns about inflationary pressures and reiterated his warning that the world may be entering the riskiest era in geopolitics since World War II.But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out.",-0.0500199510937645,Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.,"Remember, a simple 2 percentage point increase in rates essentially reduced the value of most financial assets by 20%, and certain real estate assets, specifically office real estate, may be worth even less due to the effects of recession and higher vacancies.",2024-04-10 -"Delta forecasts quarterly earnings ahead of expectations, focuses on efficiency as growth steadies",https://www.cnbc.com/2024/04/10/delta-air-lines-dal-q1-2024-earnings.html,2024-04-10T15:28:18+0000,"In this articleDelta Air Lines swung to a profit in the first quarter, and CEO Ed Bastian said bookings for both leisure and business travel are strong as the peak travel season approaches, despite persistent inflation.""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Bastian said in an interview.Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG, formerly known as Refinitiv. It said revenue in the current period could rise as much as 7%, ahead of analysts' estimates. Delta also reiterated its full-year forecast for $6 to $7 a share and free cash flow of between $3 billion and $4 billion.Business travel improved in the last quarter and solid demand is likely to continue, executives said, citing 14% growth in corporate travel sales. They called out the technology, consumer and financial services sectors as particularly strong.Delta has slowed hiring, like other carriers, after a massive spree in the wake of the pandemic, and is focusing more on efficiency. Bastian told CNBC that the company's headcount will likely be up low single digits this year compared with 2023.Here's how the company performed in the three months ended March 31, compared with Wall Street expectations based on consensus estimates from LSEG:The carrier made $37 million, or 6 cents per share, in the first three months of the year, up from a loss of $363 million, or 57 cents per share, in the year-earlier period, it said Wednesday. Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023.Revenue of $12.56 billion, adjusted to strip out refinery sales, was up 6% from last year, and slightly below analysts' expectations.Delta's unit cost, when stripping out fuel, rose 1.5% on the year. Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel. Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report.""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.",CNBC,10/04/2024,"['In this articleDelta Air Lines swung to a profit in the first quarter, and CEO Ed Bastian said bookings for both leisure and business travel are strong as the peak travel season approaches, despite persistent inflation.', '""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Bastian said in an interview.', 'Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG, formerly known as Refinitiv.', ""It said revenue in the current period could rise as much as 7%, ahead of analysts' estimates."", 'Delta also reiterated its full-year forecast for $6 to $7 a share and free cash flow of between $3 billion and $4 billion.', 'Business travel improved in the last quarter and solid demand is likely to continue, executives said, citing 14% growth in corporate travel sales.', 'They called out the technology, consumer and financial services sectors as particularly strong.', 'Delta has slowed hiring, like other carriers, after a massive spree in the wake of the pandemic, and is focusing more on efficiency.', ""Bastian told CNBC that the company's headcount will likely be up low single digits this year compared with 2023.Here's how the company performed in the three months ended March 31,compared with Wall Street expectations based on consensus estimates from LSEG:The carrier made $37 million, or 6 cents per share, in the first three months of the year, up from a loss of $363 million, or 57 cents per share, in the year-earlier period, it said Wednesday."", ""Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023.Revenue of $12.56 billion, adjusted to strip out refinery sales, was up 6% from last year, and slightly below analysts' expectations."", ""Delta's unit cost, when stripping out fuel, rose 1.5% on the year."", 'Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel.', ""Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report."", '""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.']",0.3776985509568563,"""Growth is normalizing and we are in a period of optimization, with a focus on restoring our most profitable core hubs and delivering efficiency gains,"" CFO Dan Janki said in an earnings release.",,0.6383908661929044,"Delta said domestic unit revenue rose 3% from a year ago with airplane loads at records for the quarter, traditionally a slow period for travel.","Airfare rose 1% from February to March, but was down 7% last month compared with the same month last year, according to Wednesday's U.S. inflation report.",2024-04-10 -Spain to axe 'golden visas' scheme,https://www.bbc.co.uk/news/world-europe-68761491,2024-04-09T14:32:42.000Z,"The Spanish government has begun the process of eliminating the so-called ""golden visa"" scheme. Under the scheme, foreign investors are provided with fast-tracked residency. At a Cabinet meeting on Tuesday, ministers agreed to end the awarding of the visa, which can be obtained in exchange for buying property worth €500,000 (£428,000) or more. The visa scheme was created in 2013 by the conservative government of Mariano Rajoy. It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard. A total of 6,200 visas were issued until 2023 for investment in property, according to the organisation Transparency International, although other sources put the number higher. Nearly half of beneficiaries of Spain's Golden Visa - a total of 2,712 - were Chinese, according to Transparency International. Russians were the next most numerous recipients, with 1,159, followed by Iranians (203), and citizens of the US (179) and the UK (177). The ""golden visa"" scheme also provided residency in exchange for investing €2m (£1.7m) or more in state bonds, or for investing in emerging Spanish companies. However, only 6% of visas were awarded for reasons other than the purchase of property, the government said. Prime Minister Pedro Sánchez said his government's intention to scrap the scheme was intended ""to guarantee that housing is a right and not merely the subject of business speculation"". He said that the majority of visas awarded were linked to the purchase of properties in places such as Madrid, Barcelona, Valencia, Málaga, Alicante and the Balearic Islands - all areas where the housing market ""is under enormous pressure and where it is almost impossible for people who live and work in those places and pay their taxes each day to find affordable housing"". Some areas of the country have been particularly affected by rising rents, such as Ibiza, in the Balearic Islands. Last year, the government introduced a housing law which aimed to cap rental increases in areas where they have been spiralling. Mr Sánchez's left-wing allies in his coalition government had been calling for an end to the visa system. However, critics say that its elimination will not improve matters. ""The problem with housing in Spain, both in terms of sales and rental, is not caused by the Golden Visa, but rather by the increasing lack of supply [of housing] and the accelerating growth in demand,"" said Francisco Iñareta, of the Idealista property portal. However, pressure has also come from outside Spain, with the European Commission calling on EU members to clamp down on such schemes, in great part because of security concerns, especially since Russia's invasion of Ukraine. In 2022, the UK government ended a scheme allowing wealthy foreign nationals to settle in the country if they brought assets with them. The following year, Ireland scrapped its Golden Visa, while Portugal revised its own version of it, no longer allowing residency in exchange for property purchases. ",BBC,09/04/2024,"['The Spanish government has begun the process of eliminating the so-called ""golden visa"" scheme.', 'Under the scheme, foreign investors are provided with fast-tracked residency.', 'At a Cabinet meeting on Tuesday, ministers agreed to end the awarding of the visa, which can be obtained in exchange for buying property worth €500,000 (£428,000) or more.', 'The visa scheme was created in 2013 by the conservative government of Mariano Rajoy.', ""It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard."", 'A total of 6,200 visas were issued until 2023 for investment in property, according to the organisation Transparency International, although other sources put the number higher.', ""Nearly half of beneficiaries of Spain's Golden Visa - a total of 2,712 - were Chinese, according to Transparency International."", 'Russians were the next most numerous recipients, with 1,159, followed by Iranians (203), and citizens of the US (179) and the UK (177).', 'The ""golden visa"" scheme also provided residency in exchange for investing €2m (£1.7m) or more in state bonds, or for investing in emerging Spanish companies.', 'However, only 6% of visas were awarded for reasons other than the purchase of property, the government said.', 'Prime Minister Pedro Sánchez said his government\'s intention to scrap the scheme was intended ""to guarantee that housing is a right and not merely the subject of business speculation"".', 'He said that the majority of visas awarded were linked to the purchase of properties in places such as Madrid, Barcelona, Valencia, Málaga, Alicante and the Balearic Islands - all areas where the housing market ""is under enormous pressure and where it is almost impossible for people who live and work in those places and pay their taxes each day to find affordable housing"".', 'Some areas of the country have been particularly affected by rising rents, such as Ibiza, in the Balearic Islands.', 'Last year, the government introduced a housing law which aimed to cap rental increases in areas where they have been spiralling.', ""Mr Sánchez's left-wing allies in his coalition government had been calling for an end to the visa system."", 'However, critics say that its elimination will not improve matters. ""', 'The problem with housing in Spain, both in terms of sales and rental, is not caused by the Golden Visa, but rather by the increasing lack of supply [of housing] and the accelerating growth in demand,"" said Francisco Iñareta, of the Idealista property portal.', ""However, pressure has also come from outside Spain, with the European Commission calling on EU members to clamp down on such schemes, in great part because of security concerns, especially since Russia's invasion of Ukraine."", 'In 2022, the UK government ended a scheme allowing wealthy foreign nationals to settle in the country if they brought assets with them.', 'The following year, Ireland scrapped its Golden Visa, while Portugal revised its own version of it, no longer allowing residency in exchange for property purchases.']",0.0564440552613411,"At a Cabinet meeting on Tuesday, ministers agreed to end the awarding of the visa, which can be obtained in exchange for buying property worth €500,000 (£428,000) or more.","It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard.",-0.6073799530665079,"It was seen as a way of attracting badly needed foreign investment in the wake of the eurozone crisis, which hit Spain's property sector particularly hard.","Some areas of the country have been particularly affected by rising rents, such as Ibiza, in the Balearic Islands.",2024-04-10 -Why there's a revolution on the way in glass making,https://www.bbc.co.uk/news/business-68429393,2024-04-01T23:03:38.000Z,"I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck. Despite being empty, it's heavy. I ask how much the bottle costs. ""About £270,"" I'm told. I hand the bottle back - very carefully. The bottle, designed for a rare whisky, is one of the creations of Stoelzle Flaconnage, based in Knottingley, West Yorkshire. Glassware has been made on this site since 1871. In 1994 the factory was taken over by Austria's Stoelzle Glass Group, which has focused the plant on making bottles for the spirits industry. It can handle the design, bottle making and decoration all on one site. Demand is strong, helped by the boom in gin making and demand for whisky in Asia. When I visit, the plant is busy, lumps of molten glass are dropping into dozens of moulds, the glass still glowing orange from the heat of the furnace. To stand out in a crowded market, customers want distinctive bottles, with patterned and sometimes coloured glass, elaborate labels and artwork. ""What our clients are looking for is to have their product presented in an outstanding - sometimes iconic - way,"" says Thomas Riss, chief executive of Stoelzle Flaconnage. While business is brisk, Stoelzle Flaconnage - and other glassmakers - are having to make some big decisions about the way they make glass containers. The European Union is cracking down on packaging waste. It wants packaging to be lighter so less material is needed and less fuel is needed for transportation. It has been working on the Packaging & Packaging Waste Regulation (PPWR), which is in the final stages of approval. Under the rules, member states would have to cut back on packaging weight and would have to introduce measures to meet targets. There is concern in the glass container industry that it will be unfairly targeted as glass is relatively heavy, compared with plastic or aluminium. ""Light doesn't mean sustainable,"" points out Vanessa Chesnot, from FEVE, the industry body which represents European glass container makers. ""Glass is 100% and infinitely recyclable... so, you can recycle a whisky bottle into another bottle, forever basically."" While it's true that glass recycling is an established process, making glass, even using recycled materials, is energy intensive. Most glass making involves burning natural gas to heat the raw materials in a furnace to 1,500C. Burning gas and heating the raw materials both produce CO2. The furnace I saw in action at Stoelzle Flaconnage uses about 191,000 kWh of energy per day - that's enough to supply the average UK household with energy for 12 years, the company says. It is considered a relatively small furnace; bigger plants would have furnaces twice the size. What's more, glass furnaces are never turned off, as it takes 12 days for a furnace to reach its operating temperature. Essentially a furnace will run all day, every day for its operational life - typically between ten and 12 years. So the glass industry is looking at switching from gas-fired furnaces to electricity. If the electricity comes from a sustainable source then the carbon footprint is slashed, which could go a long way to helping glass firms meet their goal to become net zero by 2050. Until recent years, running a furnace on electricity was considered too expensive. But electricity prices have become more competitive, so glass makers are looking at making the switch. Stoelzle Flaconnage, plans to have an electric furnace running in Knottingley by 2026. ""When I talked with my engineers, five years back, none of them would have ever come up with the idea of electric furnaces, because the mathematics didn't make sense. But this has changed now,"" says Mr Riss. However, electric furnaces might not be an option for companies that mass produce containers, like beer bottles. Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. ""For the time being it [electric furnace tech] is mainly being developed for niche markets or small furnaces producing high added value products,"" says FEVE's director of environment, health and safety, Fabrice Rivet. An extra challenge for electric glass furnaces is plugging them in. Connections to the electricity grid often have to be upgraded, to cope with the extra electricity supply. But the glass industry is attempting to clear some of those hurdles. In Obernkirchen, in northern Germany the world's most advanced hybrid glass furnace is undergoing trials, at Ardagh Glass Packaging (AGP). Partly funded by the German government and the EU, and made by Germany company Sorg, it is a large furnace with a capacity of 350 tonnes - enough to make about a million beer bottles a day. When fully operational it will run on 80% sustainable electricity and 20% gas, which AGP says will save 45,000 tonnes of CO2 per year. Engineers at AGP are giving the furnace the ultimate test - making amber-coloured glass, which involves tricky chemistry and is more difficult to control than making clear glass. ""There has been no successful demonstration of full-scale amber glass production in full electric melting. And if you wanted to combine the maximum of carbon footprint reduction with high cullet (recycled glass) and amber glass, then the hybrid is the logical choice,"" says Joris Goossens, research and development project manager at AGP. AGP says that once the hybrid furnace has proved itself, then the next step could be replacing the natural gas with hydrogen. Even if the industry does make the switch to electric or hybrid furnaces, it still has other problems to solve. The raw materials needed to make glass, including sand, soda ash and limestone, emit CO2 while they are being heated. They account for about 20% of the carbon emissions of the glass making process. The industry hopes that using more recycled glass in the production process will cut those emissions, but getting enough unwanted glass is a challenge. One academic who has studied the packaging industry says the answer might be just to use less glass. In a paper published in 2020, Alice Brock, a PhD researcher at Southampton University, compared the environmental impact of glass, plastic and aluminium containers and found that glass had the most detrimental impact on the environment. ""Even recycled glass has an incredibly high energy demand,"" she points out. ""The waste hierarchy is reduce, reuse, recycle. We should have less packaging, or we should be reusing packaging, or we should recycle if we have to,"" she says. More technology of business ",BBC,01/04/2024,"[""I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck."", ""Despite being empty, it's heavy."", 'I ask how much the bottle costs. ""', 'About £270,"" I\'m told.', 'I hand the bottle back - very carefully.', 'The bottle, designed for a rare whisky, is one of the creations of Stoelzle Flaconnage, based in Knottingley, West Yorkshire.', 'Glassware has been made on this site since 1871.', ""In 1994 the factory was taken over by Austria's Stoelzle Glass Group, which has focused the plant on making bottles for the spirits industry."", 'It can handle the design, bottle making and decoration all on one site.', 'Demand is strong, helped by the boom in gin making and demand for whisky in Asia.', 'When I visit, the plant is busy, lumps of molten glass are dropping into dozens of moulds, the glass still glowing orange from the heat of the furnace.', 'To stand out in a crowded market, customers want distinctive bottles, with patterned and sometimes coloured glass, elaborate labels and artwork. ""', 'What our clients are looking for is to have their product presented in an outstanding - sometimes iconic - way,"" says Thomas Riss, chief executive of Stoelzle Flaconnage.', 'While business is brisk, Stoelzle Flaconnage - and other glassmakers - are having to make some big decisions about the way they make glass containers.', 'The European Union is cracking down on packaging waste.', 'It wants packaging to be lighter so less material is needed and less fuel is needed for transportation.', 'It has been working on the Packaging & Packaging Waste Regulation (PPWR), which is in the final stages of approval.', 'Under the rules, member states would have to cut back on packaging weight and would have to introduce measures to meet targets.', 'There is concern in the glass container industry that it will be unfairly targeted as glass is relatively heavy, compared with plastic or aluminium. ""', 'Light doesn\'t mean sustainable,"" points out Vanessa Chesnot, from FEVE, the industry body which represents European glass container makers. ""', 'Glass is 100% and infinitely recyclable... so, you can recycle a whisky bottle into another bottle, forever basically.""', ""While it's true that glass recycling is an established process, making glass, even using recycled materials, is energy intensive."", 'Most glass making involves burning natural gas to heat the raw materials in a furnace to 1,500C. Burning gas and heating the raw materials both produce CO2.', ""The furnace I saw in action at Stoelzle Flaconnage uses about 191,000 kWh of energy per day - that's enough to supply the average UK household with energy for 12 years, the company says."", 'It is considered a relatively small furnace; bigger plants would have furnaces twice the size.', ""What's more, glass furnaces are never turned off, as it takes 12 days for a furnace to reach its operating temperature."", 'Essentially a furnace will run all day, every day for its operational life - typically between ten and 12 years.', 'So the glass industry is looking at switching from gas-fired furnaces to electricity.', 'If the electricity comes from a sustainable source then the carbon footprint is slashed, which could go a long way to helping glass firms meet their goal to become net zero by 2050.', 'Until recent years, running a furnace on electricity was considered too expensive.', 'But electricity prices have become more competitive, so glass makers are looking at making the switch.', 'Stoelzle Flaconnage, plans to have an electric furnace running in Knottingley by 2026. ""', ""When I talked with my engineers, five years back, none of them would have ever come up with the idea of electric furnaces, because the mathematics didn't make sense."", 'But this has changed now,"" says Mr Riss.', 'However, electric furnaces might not be an option for companies that mass produce containers, like beer bottles.', 'Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. ""', 'For the time being it [electric furnace tech] is mainly being developed for niche markets or small furnaces producing high added value products,"" says FEVE\'s director of environment, health and safety, Fabrice Rivet.', 'An extra challenge for electric glass furnaces is plugging them in.', 'Connections to the electricity grid often have to be upgraded, to cope with the extra electricity supply.', 'But the glass industry is attempting to clear some of those hurdles.', ""In Obernkirchen, in northern Germany the world's most advanced hybrid glass furnace is undergoing trials, at Ardagh Glass Packaging (AGP)."", 'Partly funded by the German government and the EU, and made by Germany company Sorg, it is a large furnace with a capacity of 350 tonnes - enough to make about a million beer bottles a day.', 'When fully operational it will run on 80% sustainable electricity and 20% gas, which AGP says will save 45,000 tonnes of CO2 per year.', 'Engineers at AGP are giving the furnace the ultimate test - making amber-coloured glass, which involves tricky chemistry and is more difficult to control than making clear glass. ""', 'There has been no successful demonstration of full-scale amber glass production in full electric melting.', 'And if you wanted to combine the maximum of carbon footprint reduction with high cullet (recycled glass) and amber glass, then the hybrid is the logical choice,"" says Joris Goossens, research and development project manager at AGP.', 'AGP says that once the hybrid furnace has proved itself, then the next step could be replacing the natural gas with hydrogen.', 'Even if the industry does make the switch to electric or hybrid furnaces, it still has other problems to solve.', 'The raw materials needed to make glass, including sand, soda ash and limestone, emit CO2 while they are being heated.', 'They account for about 20% of the carbon emissions of the glass making process.', 'The industry hopes that using more recycled glass in the production process will cut those emissions, but getting enough unwanted glass is a challenge.', 'One academic who has studied the packaging industry says the answer might be just to use less glass.', 'In a paper published in 2020, Alice Brock, a PhD researcher at Southampton University, compared the environmental impact of glass, plastic and aluminium containers and found that glass had the most detrimental impact on the environment. ""', 'Even recycled glass has an incredibly high energy demand,"" she points out. ""', 'The waste hierarchy is reduce, reuse, recycle.', 'We should have less packaging, or we should be reusing packaging, or we should recycle if we have to,"" she says.', 'More technology of business']",0.1202638344950185,I'm handed an elegant pear-shaped bottle with an intricate leaf pattern reaching up around the neck.,So the glass industry is looking at switching from gas-fired furnaces to electricity.,0.451889619231224,"Demand is strong, helped by the boom in gin making and demand for whisky in Asia.","Even if electric furnaces can be made big enough, the extra expense of electricity will be off-putting for them. """,2024-04-10 -Boeing's quarterly airplane deliveries drop to 83 amid safety crisis,https://www.cnbc.com/2024/04/09/boeing-airplane-deliveries-drop-during-q1-amid-safety-crisis.html,2024-04-09T17:21:00+0000,"In this articleBoeing airplane deliveries dropped in the first quarter to the lowest number since mid-2021 as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period. Solely in March, Boeing delivered 29 planes. Airbus said Tuesday that it delivered 142 planes in the first three months of the year, 63 of them in March.Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large jetliner market. The company logged orders for 111 for new planes last month when stripping out two cancellations, 85 of them 737 Max aircraft for American Airlines, which the carrier announced in early March.The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe. Federal accident investigators said the door plug was missing bolts that hold it in place. Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing output of the jets until it signs off on its quality control procedures.Boeing executives have said the company is slowing down its production to improve quality control and avoid so-called traveled work, when repairs or other tasks occur out of sequence.""We won't rush or go too fast,"" Boeing CFO Brian West said at a Bank of America conference last month. ""In fact, we're deliberately going to slow to get this right. And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready. And we'll feel the impact of that over the next several months.""Aircraft delivery delays sparked criticism from the CEOs of some of Boeing's biggest airline customers, and in its wake, CEO Dave Calhoun last month announced he will step down by year's end. Boeing also replaced its board chair and the head of its commercial airplane unit.Alaska Airlines said last week it received $160 million in compensation from Boeing in the first quarter stemming from a brief grounding of the plane after the accident.Boeing is scheduled to report first-quarter results and update investors on April 24.",CNBC,09/04/2024,"['In this articleBoeing airplane deliveries dropped in the first quarterto the lowest number since mid-2021as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.', 'The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period.', 'Solely in March, Boeing delivered 29 planes.', 'Airbus said Tuesday that it delivered 142 planes in the first three months of the year, 63 of them in March.', 'Boeing customers are still ordering new jets from the manufacturer, which along with Airbus dominates the large jetliner market.', 'The company logged orders for 111 for new planes last month when stripping out two cancellations, 85 of them 737 Max aircraft for American Airlines, which the carrier announced in early March.', 'The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe.', 'Federal accident investigators said the door plug was missing bolts that hold it in place.', ""Since the accident, the Federal Aviation Administration has inspected Boeing's 737 Max production and barred the plane maker from increasing output of the jets until it signs off on its quality control procedures."", 'Boeing executives have said the company is slowing down its production to improve quality control and avoid so-called traveled work, when repairs or other tasks occur out of sequence.', '""We won\'t rush or go too fast,"" Boeing CFO Brian West said at a Bank of America conference last month. ""', ""In fact, we're deliberately going to slow to get this right."", ""And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready."", ""And we'll feel the impact of that over the next several months."", '""Aircraft delivery delays sparked criticism from the CEOs of some of Boeing\'s biggest airline customers, and in its wake, CEO Dave Calhoun last month announced he will step down by year\'s end.', 'Boeing also replaced its board chair and the head of its commercial airplane unit.', 'Alaska Airlines said last week it received $160 million in compensation from Boeing in the first quarter stemming from a brief grounding of the plane after the accident.', 'Boeing is scheduled to report first-quarter results and update investors on April 24.']",-0.1149832774170058,And we are the ones who made the decision to constrain rates on the 737 program below 38 per month until we feel like we're ready.,The latest tally comes after the Jan. 5 accident on Alaska Airlines Flight 1282 brought Boeing inches from a catastrophe.,-0.1954715847969055,"The company handed over 83 planes in the three months ended March 31, most of them 737s, compared with 157 in the prior quarter and 130 planes in the year-earlier period.",In this articleBoeing airplane deliveries dropped in the first quarterto the lowest number since mid-2021as the company faces increased scrutiny after a door plug blew out from one of its 737 Max 9 planes midair in January.,2024-04-10 -Ted Baker to close 15 stores and cut 245 jobs,https://www.bbc.co.uk/news/business-68762097,2024-04-08T13:39:15.000Z,"High Street fashion chain Ted Baker is to close 15 UK stores and cut 245 jobs, administrators have said. Eleven stores will close by 19 April, administrators for the brand's owner said, leading to 120 job losses. In addition, 25 head office roles will go, and four stores that had been set to close prior to the administration will shut shortly, affecting 100 posts. The firm behind Ted Baker's UK shops, No Ordinary Designer Label (NODL), hired administrators last month. When it fell into administration, Ted Baker had about 975 employees in the UK and ran 46 shops, plus an e-commerce platform and department store concessions. US firm Authentic Brands Group owns the intellectual property to Ted Baker, with NODL the holding company for the brand in the UK. When NODL fell into administration itself last month, Authentic Brands said the ""damage done"" during a tie-up with another firm was ""too much to overcome"". It said NODL had ""built up a significant level of arrears"" through a partnership with Dutch firm AARC, which ended in January this year. The administrators said the stores scheduled to close ""have no prospect of being returned to profitability, even with material rent reductions"". Danni Hewson, head of financial analysis at investment platform AJ Bell said although the Ted Baker brand did ""still chime"" with consumers, ""the sound is dull and for many younger shoppers their engagement is limited to fragrance and underwear"". She suggested Next could be in the running to acquire the fashion chain. ""Next already has a relationship with the brand and no one would be surprised to see it subsume the company into its family, especially now the business has been slimmed down,"" Ms Hewson added. Meanwhile, joint administrator Benji Dymant said: ""Ted Baker is an iconic British brand with strong partners around the world. ""These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health."" The 11 stores closing by 19 April are: The four stores that are set to close ""in the coming weeks"" are: Ted Baker began as a menswear brand in Glasgow in 1988, and grew to have shops across the UK and in the United States. It also has licensing agreements in place for stores in cities in Asia and the Middle East. Are you affected by the issues raised in this story? Share your experiences by emailing haveyoursay@bbc.co.uk. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission. ",BBC,08/04/2024,"['High Street fashion chain Ted Baker is to close 15 UK stores and cut 245 jobs, administrators have said.', ""Eleven stores will close by 19 April, administrators for the brand's owner said, leading to 120 job losses."", 'In addition, 25 head office roles will go, and four stores that had been set to close prior to the administration will shut shortly, affecting 100 posts.', ""The firm behind Ted Baker's UK shops, No Ordinary Designer Label (NODL), hired administrators last month."", 'When it fell into administration, Ted Baker had about 975 employees in the UK and ran 46 shops, plus an e-commerce platform and department store concessions.', 'US firm Authentic Brands Group owns the intellectual property to Ted Baker, with NODL the holding company for the brand in the UK.', 'When NODL fell into administration itself last month, Authentic Brands said the ""damage done"" during a tie-up with another firm was ""too much to overcome"".', 'It said NODL had ""built up a significant level of arrears"" through a partnership with Dutch firm AARC, which ended in January this year.', 'The administrators said the stores scheduled to close ""have no prospect of being returned to profitability, even with material rent reductions"".', 'Danni Hewson, head of financial analysis at investment platform AJ Bell said although the Ted Baker brand did ""still chime"" with consumers, ""the sound is dull and for many younger shoppers their engagement is limited to fragrance and underwear"".', 'She suggested Next could be in the running to acquire the fashion chain. ""', 'Next already has a relationship with the brand and no one would be surprised to see it subsume the company into its family, especially now the business has been slimmed down,"" Ms Hewson added.', 'Meanwhile, joint administrator Benji Dymant said: ""Ted Baker is an iconic British brand with strong partners around the world. ""', 'These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.""', 'The 11 stores closing by 19 April are: The four stores that are set to close ""in the coming weeks"" are: Ted Baker began as a menswear brand in Glasgow in 1988, and grew to have shops across the UK and in the United States.', 'It also has licensing agreements in place for stores in cities in Asia and the Middle East.', 'Are you affected by the issues raised in this story?', 'Share your experiences by emailing haveyoursay@bbc.co.uk.', 'Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk."", 'Please include your name, age and location with any submission.']",0.094643484200579,"These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.""","When NODL fell into administration itself last month, Authentic Brands said the ""damage done"" during a tie-up with another firm was ""too much to overcome"".",-0.1099107265472412,"These store closures, whilst with a regrettable impact on valued team members, will improve the performance of the business, as Authentic continues to progress discussions with potential UK and European operating partners for the Ted Baker brand to bring the business back to health.""","Eleven stores will close by 19 April, administrators for the brand's owner said, leading to 120 job losses.",2024-04-10 -Could AI take the grind out of accountancy?,https://www.bbc.co.uk/news/business-68553123,2024-03-26T00:24:13.000Z,"Owen Hewitt, is a trainee chartered accountant at accountancy firm haysmacintyre. He's two years into his training with more exams coming up this year. What's unusual about him and his peers, is that they will be the first generation of accountants to use artificial intelligence (AI) right from the beginning of their careers. Mr Hewitt is hoping that AI will take over some of the more tedious parts of the job. ""These (AI) can remove the burden of the more time-consuming tasks, like analysis of financial data,"" says Mr Hewitt. That leaves the humans to focus on more subjective - and more interesting - decisions, like whether a business is viable, or whether debts are likely to be paid. ""Whilst AI can learn from data and make predictions, it can't yet replace the human judgement required to weigh up different variables and make an informed decision,"" he says. So, AI is increasingly being used for routine and time-consuming tasks such as summarising documents, creating content, drafting documentation, advanced searching, analytics and insight and knowledge management - often work done by more junior accountancy staff. ""When you look at some of the tasks that auditors were doing - some of the boring, mundane tasks around churning data and manipulating it into a format where you can then actually do something valuable with it - that's where artificial intelligence can play a really big part,"" says Matthew Campbell, audit chief technology officer for KPMG UK. Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs. According to a KPMG survey, four in 10 senior audit professionals expect that the increased efficiency that AI can bring will lead to a reduction in the size of auditing teams. Already, many manual audit and reporting tasks have been outsourced to other countries, with most major banks in the UK now having taken on large numbers of qualified accountants in India, who perform a significant proportion of month-end financial reporting tasks. This, says Alex King, founder and chartered accountant at finance platform Generation Money, means that junior accountants working in audit will need to focus more on client-facing skills. ""Generally, the nature of a junior accountant's role is likely to change more towards systems management - overseeing AI powered software and databases - and relationship management, and away from the traditional reconciliations and ledgers work,"" he says. As a result, training programmes are changing. ""We're still recruiting a number of people, graduates, and we're also recruiting a number of apprentices. I think what will change over time is the skillsets of some of those individuals,"" says Mr Campbell. ""We're already starting to see that, so we've invested in putting a number of our auditors through a master's degree in applied data science, so they can take that auditing and accounting knowledge with their data science skills knowledge, to really bring the best of those skills together."" The accountancy industry has seen some high-profile failures in recent years. In March, KPMG was fined £1.5m for failings in its 2019 audit of advertising agency M&C Saatchi. And it's not alone in making errors. Last summer, a report from the US Public Company Accounting Oversight Board (PCAOB) found that four in 10 audits conducted by global accounting firms had significant flaws, and that the proportion was rising rapidly. Meanwhile, the UK's accountancy regulator, the Financial Reporting Council (FRC), carried out 19 investigations in the 2022-2023 financial year, slapping fines of £40.5 million on auditing firms and their clients for audit failings. As a result, auditing firms are now under great scrutiny; and to tighten up their procedures, many are turning to AI. ""As generative AI plays a more prominent role in contributing to first drafts of content, the human auditor role can be elevated to focus on areas of judgment and challenge,"" says Marc Bena, digital audit leader at PwC UK. ""The ability to analyse data at a much larger scale also means we can perform better risk assessments and analysis."" AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client. KPMG itself uses AI for high-risk transactions to look for such anomalies, such as the posting of unusual amounts, postings made by somebody unusual or postings made at a weekend. ""We get to a point where it's a truly data-driven audit, where we identify the risks from within a population of data and use that to help focus our audit efforts on the most complex, the high-risk, the most judgmental areas,"" says Mr Campbell. More technology of business As for more high-level jobs, AI may help here too. Auditing firms have been finding it hard to retain talent, with 90% of auditors telling Caseware last year that it is either somewhat or extremely difficult. Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper. However, 86% of auditing staff agreed that AI helps cut down time on repetitive task - and 83% said they'd be more inclined to stay at a company with AI initiatives in place. ""They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation,"" says Mr Campbell. ""The bits of their role that it's taking away is stuff that they weren't enjoying."" ",BBC,26/03/2024,"['Owen Hewitt, is a trainee chartered accountant at accountancy firm haysmacintyre.', ""He's two years into his training with more exams coming up this year."", ""What's unusual about him and his peers, is that they will be the first generation of accountants to use artificial intelligence (AI) right from the beginning of their careers."", 'Mr Hewitt is hoping that AI will take over some of the more tedious parts of the job. ""', 'These (AI) can remove the burden of the more time-consuming tasks, like analysis of financial data,"" says Mr Hewitt.', 'That leaves the humans to focus on more subjective - and more interesting - decisions, like whether a business is viable, or whether debts are likely to be paid. ""', 'Whilst AI can learn from data and make predictions, it can\'t yet replace the human judgement required to weigh up different variables and make an informed decision,"" he says.', 'So, AI is increasingly being used for routine and time-consuming tasks such as summarising documents, creating content, drafting documentation, advanced searching, analytics and insight and knowledge management - often work done by more junior accountancy staff. ""', 'When you look at some of the tasks that auditors were doing - some of the boring, mundane tasks around churning data and manipulating it into a format where you can then actually do something valuable with it - that\'s where artificial intelligence can play a really big part,"" says Matthew Campbell, audit chief technology officer for KPMG UK.', ""Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs."", 'According to a KPMG survey, four in 10 senior audit professionals expect that the increased efficiency that AI can bring will lead to a reduction in the size of auditing teams.', 'Already, many manual audit and reporting tasks have been outsourced to other countries, with most major banks in the UK now having taken on large numbers of qualified accountants in India, who perform a significant proportion of month-end financial reporting tasks.', 'This, says Alex King, founder and chartered accountant at finance platform Generation Money, means that junior accountants working in audit will need to focus more on client-facing skills. ""', 'Generally, the nature of a junior accountant\'s role is likely to change more towards systems management - overseeing AI powered software and databases - and relationship management, and away from the traditional reconciliations and ledgers work,"" he says.', 'As a result, training programmes are changing. ""', ""We're still recruiting a number of people, graduates, and we're also recruiting a number of apprentices."", 'I think what will change over time is the skillsets of some of those individuals,"" says Mr Campbell. ""', 'We\'re already starting to see that, so we\'ve invested in putting a number of our auditors through a master\'s degree in applied data science, so they can take that auditing and accounting knowledge with their data science skills knowledge, to really bring the best of those skills together.""', 'The accountancy industry has seen some high-profile failures in recent years.', 'In March, KPMG was fined £1.5m for failings in its 2019 audit of advertising agency M&C Saatchi.', ""And it's not alone in making errors."", 'Last summer, a report from the US Public Company Accounting Oversight Board (PCAOB) found that four in 10 audits conducted by global accounting firms had significant flaws, and that the proportion was rising rapidly.', ""Meanwhile, the UK's accountancy regulator, the Financial Reporting Council (FRC), carried out 19 investigations in the 2022-2023 financial year, slapping fines of £40.5 million on auditing firms and their clients for audit failings."", 'As a result, auditing firms are now under great scrutiny; and to tighten up their procedures, many are turning to AI. ""', 'As generative AI plays a more prominent role in contributing to first drafts of content, the human auditor role can be elevated to focus on areas of judgment and challenge,"" says Marc Bena, digital audit leader at PwC UK. ""', 'The ability to analyse data at a much larger scale also means we can perform better risk assessments and analysis.""', 'AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client.', 'KPMG itself uses AI for high-risk transactions to look for such anomalies, such as the posting of unusual amounts, postings made by somebody unusual or postings made at a weekend. ""', 'We get to a point where it\'s a truly data-driven audit, where we identify the risks from within a population of data and use that to help focus our audit efforts on the most complex, the high-risk, the most judgmental areas,"" says Mr Campbell.', 'More technology of business As for more high-level jobs, AI may help here too.', 'Auditing firms have been finding it hard to retain talent, with 90% of auditors telling Caseware last year that it is either somewhat or extremely difficult.', 'Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper.', 'However, 86% of auditing staff agreed that AI helps cut down time on repetitive task - and 83% said they\'d be more inclined to stay at a company with AI initiatives in place. ""', 'They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation,"" says Mr Campbell. ""', 'The bits of their role that it\'s taking away is stuff that they weren\'t enjoying.""']",0.1626808889918358,"AI is particularly good at spotting anomalies in vast amounts of data, making it useful when examining what may amount to billions of transactions by a client.","Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs.",0.3071964780489604,"Overall, auditing job vacancies rose during the last year by a quarter, according to a survey from automation platform DataSnipper.","Given that auditing is a relatively low-margin business, there's concern that the more widespread use of AI could lead to a loss of jobs.",2024-04-10 -Record levels of funding propel Denver-Boulder to the top of the life sciences market,https://www.cnbc.com/2024/04/08/record-funding-propels-denver-boulders-life-sciences-market.html,2024-04-10T19:37:28+0000,"In this articleThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.The Denver-Boulder region is rapidly emerging as a major hub for the life sciences industry, attracting companies that develop cutting-edge medical treatments and technologies.Life sciences research aims to understand living things, from cells to our planet, to improve health, food and the environment. The funding growth is being fueled by a combination of factors: a surge in venture capital and government funding, a collaborative research environment and a booming market for lab space.San Diego-based BioMed Realty, a major real estate player (acquired by Blackstone in 2016 for $8 billion), made headlines in 2022 with a record-breaking $625 million purchase of Flatiron Park, a massive complex in Boulder, Colorado. The 1 million square feet across 23 buildings is being converted into lab and tech space to meet the region's surging demand.""This was a logical next step … to invest in Boulder and scale,"" said Tim Schoen, BioMed Realty's president and CEO. ""Boulder has all the elements you want in an innovation ecosystem — research universities, scientists, venture capital, and then ourselves who provide the mission-critical infrastructure.""In addition to Boulder, the firm operates in five other core life science and tech markets including San Diego, San Francisco, Seattle, the Boston and Cambridge area in Massachusetts, and Cambridge, U.K.According to commercial real estate group CBRE, 14 companies were seeking a cumulative 506,000 square feet of lab space across the Denver-Boulder market in 2023, which includes the neighboring city of Aurora. In addition, the Denver-Boulder market saw 370,000 square feet of lab space completed and move-in ready with another 560,000 square feet under construction or renovation.""I would describe Boulder as unique and explosive. Unique from the standpoint of its setting at the foothills of the Rocky Mountains,"" said Schoen, ""and then explosive in terms of how the ecosystem has really grown and expanded over the last decade.""Investors are taking notice.""Investors from Colorado as well as across the coasts are seeing opportunities here,"" said Elyse Blazevich, president and CEO of the Colorado Bioscience Association. ""Our ecosystem has raised in excess of a billion dollars for the past seven consecutive years — and early stage funding in Colorado in 2023 grew faster than other life sciences markets around the country.""Founded in 2003, the Bioscience Association supports the growth of life sciences, with a focus on access to capital, education, networking and more.According to Blazevich, funding for pre-seed ventures, series A and series B rounds increased from 2022 to 2023. The biggest increase was seen in series A and series B funding, which grew by $53 million, or 28%, year over year. Pre-seed funding, the earliest stage of venture capital, grew by $18 million, surging 163%, over that time period.A recent CBRE report found Denver-Boulder to be the top U.S. life sciences real estate market, fueled by record investment from venture capitalists and the National Institutes of Health.The report also found the pool of qualified workers in life sciences is growing much faster in the region than the national average, growing 35% over the past five years, compared to 16% growth for the U.S. overall.The recent surge in venture capital flowing into Denver-Boulder builds on the area's proven track record of success over the past several decades.In 1998, entrepreneur Kevin Koch co-founded biotech company Array BioPharma in Boulder. The company was acquired by Pfizer for $10.64 billion in 2019, and now Koch is co-founder and CEO of clinical-stage startup Edgewise Therapeutics.Edgewise develops therapies for rare muscle disorders and generated net proceeds of $186.1 million in its initial public offering in March 2021.But the company started small.""We were in an incubator within the University of Colorado. And we brought in talented folks from the University of Colorado,"" Koch told CNBC. ""We had interns come in, who ultimately became employees.""Today, Edgewise has a much bigger space in Boulder: 28,000 square feet in total, with half of its 93 employees working in the city office. The company plans to expand its footprint and to hire more workers in the coming years.Koch said the Boulder region's history of research into DNA and RNA in the 1980s was key to unlocking protein-based medicines to battle disease, which helped to attract capital to the life science hub.""[That research] nucleated investment in the Boulder area,"" he said. ""Now, those companies that commercialized those products, they reinvested in Boulder.""With the help of top venture firms, Edgewise Therapeutics has raised more than half a billion dollars — $550 million in cash runway through 2027.""We decided that Boulder really was the right place. And I think it turns out that that was the case. We've been able to attract a lot of fantastic talent,"" Koch said.Denver-Boulder's innovation ecosystem is churning out ideas, fast.Aurora, Denver's biggest suburb, is the epicenter of life sciences research: a 256-acre complex that's home to the University of Colorado's Anschutz Medical Campus, which receives $700 million in annual grant funding.Dan LaBarbera is professor of pharmaceutical sciences and founding director of the medical campus's Center for Drug Discovery.""Our goal here at the Center for Drug Discovery is to function as a bridge to move innovation from academia, to industry, and then to the clinic,"" LaBarbera told CNBC.Founded in 2021, the center develops drugs for a wide range of diseases from cancer to Alzheimer's — using state-of-the-art technology including robots and 3D bioprinters.""I think people in general are familiar with 3D printers, in their ability to print plastics, or even metals,"" LaBarbera said. ""We're using very similar technologies to print complex tissues that mimic aspects of human disease.""Historically, it took roughly 10 to 15 years for a drug to move from discovery phase to approval from the U.S. Food and Drug Administration.""Now we can expedite that with this technology to make that process roughly six to eight years,"" LaBarbera said.The center helps shorten the timeline from drug discovery to treatment, aiding startups and existing companies to get breakthrough medications to patients faster.""Our goal is not to compete with the pharmaceutical industry,"" said LaBarbera. ""Our goal is actually to work with them to develop really innovative potential drug therapies.""TUNE IN: The ""Cities of Success"" special featuring Denver & Boulder will air on CNBC on April 11 at 10 p.m. ET.",CNBC,10/04/2024,"[""In this articleThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", 'The Denver-Boulder region is rapidly emerging as a major hub for the life sciences industry, attracting companies that develop cutting-edge medical treatments and technologies.', 'Life sciences research aims to understand living things, from cells to our planet, to improve health, food and the environment.', 'The funding growth is being fueled by a combination of factors: a surge in venture capital and government funding, a collaborative research environment and a booming market for lab space.', 'San Diego-based BioMed Realty, a major real estate player (acquired by Blackstone in 2016 for $8 billion), made headlines in 2022 with a record-breaking $625 million purchase of Flatiron Park, a massive complex in Boulder, Colorado.', ""The 1 million square feet across 23 buildings is being converted into lab and tech space to meet the region's surging demand."", '""This was a logical next step … to invest in Boulder and scale,"" said Tim Schoen, BioMed Realty\'s president and CEO. ""', 'Boulder has all the elements you want in an innovation ecosystem — research universities, scientists, venture capital, and then ourselves who provide the mission-critical infrastructure.', '""In addition to Boulder, the firm operates in five other core life science and tech markets including San Diego, San Francisco, Seattle, the Boston and Cambridge area in Massachusetts, and Cambridge, U.K.According to commercial real estate group CBRE, 14 companies were seeking a cumulative 506,000 square feet of lab space across the Denver-Boulder market in 2023, which includes the neighboring city of Aurora.', 'In addition, the Denver-Boulder market saw 370,000 square feet of lab space completed and move-in ready with another 560,000 square feet under construction or renovation.', '""I would describe Boulder as unique and explosive.', 'Unique from the standpoint of its setting at the foothills of the Rocky Mountains,"" said Schoen, ""and then explosive in terms of how the ecosystem has really grown and expanded over the last decade.', '""Investors are taking notice.', '""Investors from Colorado as well as across the coasts are seeing opportunities here,"" said Elyse Blazevich, president and CEO of the Colorado Bioscience Association. ""', 'Our ecosystem has raised in excess of a billion dollars for the past seven consecutive years — and early stage funding in Colorado in 2023 grew faster than other life sciences markets around the country.', '""Founded in 2003, the Bioscience Association supports the growth of life sciences, with a focus on access to capital, education, networking and more.', 'According to Blazevich, funding for pre-seed ventures, series A and series B rounds increased from 2022 to 2023.', 'The biggest increase was seen in series A and series B funding, which grew by $53 million, or 28%, year over year.', 'Pre-seed funding, the earliest stage of venture capital, grew by $18 million, surging 163%, over that time period.', 'A recent CBRE report found Denver-Boulder to be the top U.S. life sciences real estate market, fueled by record investment from venture capitalists and the National Institutes of Health.', 'The report also found the pool of qualified workers in life sciences is growing much faster in the region than the national average, growing 35% over the past five years, compared to 16% growth for the U.S. overall.', ""The recent surge in venture capital flowing into Denver-Boulder builds on the area's proven track record of success over the past several decades."", 'In 1998, entrepreneur Kevin Koch co-founded biotech company Array BioPharma in Boulder.', 'The company was acquired by Pfizer for $10.64 billion in 2019, and now Koch is co-founder and CEO of clinical-stage startup Edgewise Therapeutics.', 'Edgewise develops therapies for rare muscle disorders and generated net proceeds of $186.1 million in its initial public offering in March 2021.But the company started small.', '""We were in an incubator within the University of Colorado.', 'And we brought in talented folks from the University of Colorado,"" Koch told CNBC. ""', 'We had interns come in, who ultimately became employees.', '""Today, Edgewise has a much bigger space in Boulder: 28,000 square feet in total, with half of its 93 employees working in the city office.', 'The company plans to expand its footprint and to hire more workers in the coming years.', ""Koch said the Boulder region's history of research into DNA and RNA in the 1980s was key to unlocking protein-based medicines to battle disease, which helped to attract capital to the life science hub."", '""[That research] nucleated investment in the Boulder area,"" he said. ""', 'Now, those companies that commercialized those products, they reinvested in Boulder.', '""With the help of top venture firms, Edgewise Therapeutics has raised more than half a billion dollars — $550 million in cash runway through 2027.""We decided that Boulder really was the right place.', 'And I think it turns out that that was the case.', 'We\'ve been able to attract a lot of fantastic talent,"" Koch said.', ""Denver-Boulder's innovation ecosystem is churning out ideas, fast."", ""Aurora, Denver's biggest suburb, is the epicenter of life sciences research: a 256-acre complex that's home to the University of Colorado's Anschutz Medical Campus, which receives $700 million in annual grant funding."", ""Dan LaBarbera is professor of pharmaceutical sciences and founding director of the medical campus's Center for Drug Discovery."", '""Our goal here at the Center for Drug Discovery is to function as a bridge to move innovation from academia, to industry, and then to the clinic,"" LaBarbera told CNBC.Founded in 2021, the center develops drugs for a wide range of diseases from cancer to Alzheimer\'s — using state-of-the-art technology including robots and 3D bioprinters.', '""I think people in general are familiar with 3D printers, in their ability to print plastics, or even metals,"" LaBarbera said. ""', ""We're using very similar technologies to print complex tissues that mimic aspects of human disease."", '""Historically, it took roughly 10 to 15 years for a drug to move from discovery phase to approval from the U.S. Food and Drug Administration.', '""Now we can expedite that with this technology to make that process roughly six to eight years,"" LaBarbera said.', 'The center helps shorten the timeline from drug discovery to treatment, aiding startups and existing companies to get breakthrough medications to patients faster.', '""Our goal is not to compete with the pharmaceutical industry,"" said LaBarbera. ""', 'Our goal is actually to work with them to develop really innovative potential drug therapies.', '""TUNE IN: The ""Cities of Success"" special featuringDenver & Boulderwill air on CNBC on April 11 at 10 p.m. ET.']",0.2185394731886792,"We've been able to attract a lot of fantastic talent,"" Koch said.","""Our goal here at the Center for Drug Discovery is to function as a bridge to move innovation from academia, to industry, and then to the clinic,"" LaBarbera told CNBC.Founded in 2021, the center develops drugs for a wide range of diseases from cancer to Alzheimer's — using state-of-the-art technology including robots and 3D bioprinters.",0.9898780243737356,Our ecosystem has raised in excess of a billion dollars for the past seven consecutive years — and early stage funding in Colorado in 2023 grew faster than other life sciences markets around the country.,,2024-04-10 -New York Community Bank’s online arm is paying the nation’s highest interest rate,https://www.cnbc.com/2024/04/10/nycb-is-paying-the-nations-highest-interest-rate-apy.html,2024-04-10T11:12:40+0000,"In this articleNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account.NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts.The standout rate could be a sign that NYCB is facing funding pressure, Tumin said.""It looks like they're trying really hard to attract deposits,"" Tumin said. ""My Banking Direct has been around for a long time, more than 10 years, so them having an aggressive rate could be a sign of neediness"" for funding.NYCB's woes began in January, when it said it was preparing for far greater losses on commercial real estate loans than analysts had expected. That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes. The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation.During a conference call held after the capital raise, analysts asked how NYCB managed to retain so much of its deposits during the tumultuous period.""We didn't do anything crazy relative to deposit pricing,"" NYCB chairman Sandro DiNello replied. ""We didn't go out and offer 6% CDs or something like that in order to make the numbers look good, if that's what you're concerned with.""NYCB didn't return a call for comment on its funding strategy.Joseph Otting, a former comptroller of the currency, took over as the bank's CEO on April 1, about a week before the rate increase.Despite the turnaround plan, shares of NYCB still trade for under $4 apiece and are off more than 68% year to date.Other banks offering rates higher than 5% right now tend to be newer or smaller players than NYCB, according to Tumin.Among established banks, the average high-yield savings rate is about 4.4%, and several of them (including American Express, Goldman Sachs and Ally) have dropped rates in the past month, he said. The NYCB rate also tops accounts listed on NerdWallet and Bankrate.Customer deposits at My Banking Direct are insured by the FDIC up to the standard $250,000.Over the past two years, savings account rates have broadly been on the rise.Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.""When a bank has to go out and advertise a much higher rate, it's typically because they have a deposit problem,"" Stucky said. ""It's not hard for customers to switch banks anymore.""",CNBC,10/04/2024,"[""In this articleNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a savings account."", ""NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts."", 'The standout rate could be a sign that NYCB is facing funding pressure, Tumin said.', '""It looks like they\'re trying really hard to attract deposits,"" Tumin said. ""', 'My Banking Direct has been around for a long time, more than 10 years, so them having an aggressive rate could be a sign of neediness"" for funding.', ""NYCB's woes began in January, when it said it was preparing for far greater losses on commercial real estate loans than analysts had expected."", 'That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes.', ""The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation."", 'During a conference call held after the capital raise, analysts asked how NYCB managed to retain so much of its deposits during the tumultuous period.', '""Wedidn\'tdoanythingcrazyrelativetodepositpricing,"" NYCB chairman Sandro DiNello replied. ""', ""Wedidn't go out and offer 6% CDs or something like that in order to make the numbers look good, if that's what you're concerned with."", '""NYCB didn\'t return a call for comment on its funding strategy.', ""Joseph Otting, a former comptroller of the currency, took over as the bank's CEO on April 1, about a week before the rate increase."", 'Despite the turnaround plan, shares of NYCB still trade for under $4 apiece and are off more than 68% year to date.', 'Other banks offering rates higher than 5% right now tend to be newer or smaller players than NYCB, according to Tumin.', 'Among established banks, the average high-yield savings rate is about 4.4%, and several of them (including American Express, Goldman Sachs and Ally) have dropped rates in the past month, he said.', 'The NYCB rate also tops accounts listed on NerdWallet and Bankrate.', 'Customer deposits at My Banking Direct are insured by the FDIC up to the standard $250,000.Over the past two years, savings account rates have broadly been on the rise.', 'Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.', '""When a bank has to go out and advertise a much higher rate, it\'s typically because they have a deposit problem,"" Stucky said. ""', 'It\'s not hard for customers to switch banks anymore.""']",0.0767157870111379,"The bank announced a capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital on March 6.In the month before the rescue was announced, NYCB shed 7% of its deposits, falling to $77.2 billion by March 5, the bank said in a presentation.","Since the regional banking crisis consumed Silicon Valley Bank and First Republic last year, smaller players have been forced to pay higher rates for deposits compared to giants like JPMorgan Chase in order to compete, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual.",-0.4568496563217856,"NYCB raised the annual percentage yield offered via its online arm, My Banking Direct, to 5.55%, higher than any other bank's widely available account, according to Ken Tumin, an analyst who tracks rates for his website DepositAccounts.","That set off a downward spiral in its stock price, downgrades from rating agencies and multiple management changes.",2024-04-10 -Skydance's unique offer for Paramount Global would give it a large stake while keeping the company public,https://www.cnbc.com/2024/04/05/skydance-paramount-global-deal-details-of-david-ellison-bid.html,2024-04-05T16:55:23+0000,"Skydance Media's offer to acquire National Amusements and merge its studio with Paramount Pictures isn't a conventional takeover. The question for Paramount Global shareholders might be: Is it better than no deal at all?Skydance has made a unique pitch to Paramount Global's special committee, in charge of accepting or rejecting transactions, and its investors, according to four people familiar with the parameters of the offer. Paramount Global would continue to trade publicly. Skydance would own either a substantial minority stake or a majority stake in Paramount Global by merging its assets and raising new equity, which it would acquire along with its private equity partners RedBird Capital Partners and KKR.The consortium's ownership percentage in the new company could be around 45% or just over 50%, said the people, who asked not to be named because the discussions are private. No details have been nailed down and are all still subject to change, the people said.Spokespeople for Paramount Global and Skydance declined to comment.The new equity will be dilutive for existing shareholders. But it will align voting and economic control in a way that hasn't been the case with the Redstone family, which currently directly or indirectly owns 77% of the Class A voting stock of Paramount Global and 5.2% of the Class B common stock, about 10% of the overall equity of the company.While Skydance CEO David Ellison is primarily in charge of orchestrating the deal, his father, Oracle co-founder and Chairman Larry Ellison, would be putting up some of the new funding, said the people. He would also potentially provide Paramount Global with access to artificial intelligence software and other data technology from Oracle.Paramount Global has many valuable legacy media assets, including CBS, the Paramount Pictures studio and its physical lot, a studio library with films such as ""The Godfather,"" ""Titanic,"" and ""Forrest Gump"" and cable networks such as Comedy Central and Nickelodeon. It also owns its subscription streaming service Paramount+, with more than 67.5 million subscribers, and its free advertising supported service Pluto TV, with more than 80 million monthly active users.Still, it's struggled to grow in recent years. Paramount Global's annual revenue for 2023 was $29.7 billion, a 1.7% decline from 2022. Paramount+ continues to lose money. Paramount Global's debt rating was cut to junk by S&P Global Ratings last month because the company's broadcast and cable TV business is declining as traditional pay TV subscribers cancel.Paramount Global has a market capitalization of about $7.6 billion and had $14.6 billion in long-term debt at the end of 2023. When CBS and Viacom merged in 2019, the combined market value of the company was about $30 billion.Shares were trading about 5% lower Friday.In the past decade, Oracle successfully transformed from a legacy enterprise technology company to a cloud services and AI-focused business. That provides a similar thematic blueprint for what the Ellisons would like to do with Paramount Global – a legacy media company that needs to lean into the future to justify its existence.David Ellison would likely lead the new company.Former NBCUniversal CEO Jeff Shell, in his capacity as chairman for sports and media at RedBird, is also expected to have a major leadership role. Management would be open to divestitures that current CEO Bob Bakish has examined but ultimately rejected, such as selling BET Media Group and Showtime, the people said.New leadership would also assess more existential questions to Paramount Global, such as the future of Paramount+ and what the company's role should be in a broader media ecosystem. No decisions have been made yet about these larger strategies, the people said.The transaction as proposed isn't a full takeover of Paramount Global. That's what Paramount Global's board would prefer, but Ellison has balked, the people said.Still, the message to investors will be that the combination of David Ellison, his dad's involvement, Shell, Skydance's assets and its commitment to new media (including Skydance's video game development studio) is simply better for future growth than Redstone and Bakish.The Paramount Global special committee will need to decide if Skydance's complicated transaction is better than the status quo — and also better than any other offer that may still come. The two sides have entered exclusive talks to do deeper due diligence and potentially reach a deal in the coming month or two, the people said.There still could be other avenues to pursue. Private equity firm Apollo Global Management lobbed in a recent bid of $26 billion for the entire company, The Wall Street Journal reported this week. But the Paramount Global special committee has chosen to move forward with the Skydance talks in exclusivity. Redstone has unofficially sought a buyer for Paramount Global for years, according to people familiar with the matter. The late offer by Apollo may be an attempt to keep the private equity firm around the hoop in case the Skydance transaction falls through.Warner Bros. Discovery held preliminary discussions with Paramount Global but stopped working on a deal earlier this year, CNBC reported in February.WATCH: Faber report: Paramount Global deal moves to fast laneDisclosure: NBCUniversal is the parent company of CNBC.",CNBC,05/04/2024,"[""Skydance Media's offer to acquire National Amusements and merge its studio with Paramount Pictures isn't a conventional takeover."", ""The question for Paramount Global shareholders might be: Is it better than no deal at all?Skydance has made a unique pitch to Paramount Global's special committee, in charge of accepting or rejecting transactions, and its investors, according to four people familiar with the parameters of the offer."", 'Paramount Global would continue to trade publicly.', ""Skydance would own either a substantial minority stake or a majority stake in Paramount Global by merging its assets and raising new equity, which it would acquire along with its private equity partners RedBird Capital Partners and KKR.The consortium's ownership percentage in the new company could be around 45% or just over 50%, said the people, who asked not to be named because the discussions are private."", 'No details have been nailed down and are all still subject to change, the people said.', 'Spokespeople for Paramount Global and Skydance declined to comment.', 'The new equity will be dilutive for existing shareholders.', ""But it will align voting and economic control in a way that hasn't been the case with the Redstone family, which currently directly or indirectly owns 77% of the Class A voting stock of Paramount Global and5.2% of the Class B common stock, about 10% of the overall equity of the company."", 'While Skydance CEO David Ellison is primarily in charge of orchestrating the deal, his father, Oracle co-founder and Chairman Larry Ellison, would be putting up some of the new funding, said the people.', 'He would also potentially provide Paramount Global with access to artificial intelligence software and other data technology from Oracle.', 'Paramount Global has many valuable legacy media assets, including CBS, the Paramount Pictures studio and its physical lot, a studio library with films such as ""The Godfather,"" ""Titanic,"" and ""Forrest Gump"" and cable networks such as Comedy Central and Nickelodeon.', 'It also owns its subscription streaming service Paramount+, with more than 67.5 million subscribers, and its free advertising supported service Pluto TV, with more than 80 million monthly active users.', ""Still, it's struggled to grow in recent years."", ""Paramount Global's annual revenue for 2023 was$29.7 billion, a 1.7% decline from 2022."", 'Paramount+ continues to lose money.', ""Paramount Global's debt rating was cut to junk by S&P Global Ratings last month because the company's broadcast and cable TV business is declining as traditional pay TV subscribers cancel."", 'Paramount Global has a market capitalization of about $7.6 billion and had $14.6 billionin long-term debt at the end of 2023.', 'When CBS and Viacom merged in 2019, the combined market value of the company was about $30 billion.', 'Shares were trading about 5% lower Friday.', 'In the past decade, Oracle successfully transformed from a legacy enterprise technology company to a cloud services and AI-focused business.', 'That provides a similar thematic blueprint for what the Ellisons would like to do with Paramount Global – a legacy media company that needs to lean into the future to justify its existence.', 'David Ellison would likely lead the new company.', 'Former NBCUniversal CEO Jeff Shell, in his capacity as chairman for sports and media at RedBird, is also expected to have a major leadership role.', 'Management would be open to divestitures that current CEO Bob Bakish has examined but ultimately rejected, such as selling BET Media Group and Showtime, the people said.', ""New leadership would also assess more existential questions to Paramount Global, such as the future of Paramount+ and what the company's role should be in a broader media ecosystem."", 'No decisions have been made yet about these larger strategies, the people said.', ""The transaction as proposed isn't a full takeover of Paramount Global."", ""That's what Paramount Global's board would prefer, but Ellison has balked, the people said."", ""Still, the message to investors will be that the combination of David Ellison, his dad's involvement, Shell, Skydance's assets and its commitment to new media (including Skydance's video game development studio) is simply better for future growth than Redstone and Bakish."", ""The Paramount Global special committee will need to decide if Skydance's complicated transaction is better than the status quo — and also better than any other offer that may still come."", 'The two sides have entered exclusive talks to do deeper due diligence and potentially reach a deal in the coming month or two, the people said.', 'There still could be other avenues to pursue.', 'Private equity firm Apollo Global Management lobbed in a recent bid of $26 billion for the entire company, The Wall Street Journal reported this week.', 'But the Paramount Global special committee has chosen to move forward with the Skydance talks in exclusivity.', 'Redstone has unofficially sought a buyer for Paramount Global for years, according to people familiar with the matter.', 'The late offer by Apollo may be an attempt to keep the private equity firm around the hoop in case the Skydance transaction falls through.', 'Warner Bros. Discovery held preliminary discussions with Paramount Global but stopped working on a deal earlier this year, CNBC reported in February.', 'WATCH: Faber report: Paramount Global deal moves to fast laneDisclosure: NBCUniversal is the parent company of CNBC.']",0.0942132138570413,"Still, the message to investors will be that the combination of David Ellison, his dad's involvement, Shell, Skydance's assets and its commitment to new media (including Skydance's video game development studio) is simply better for future growth than Redstone and Bakish.",Paramount Global's debt rating was cut to junk by S&P Global Ratings last month because the company's broadcast and cable TV business is declining as traditional pay TV subscribers cancel.,-0.1901104867458343,"In the past decade, Oracle successfully transformed from a legacy enterprise technology company to a cloud services and AI-focused business.","Paramount Global's annual revenue for 2023 was$29.7 billion, a 1.7% decline from 2022.",2024-04-10 -"More than 7 million adults still struggling to pay bills, survey finds",https://www.bbc.co.uk/news/business-68765769,2024-04-09T23:10:40.000Z,"Some 7.4 million UK adults are still struggling to pay bills due to the high cost of living, a survey suggests. The number has fallen from last year, according to the Financial Conduct Authority (FCA), but many households still feel ""heavily burdened"". Its survey suggested one in nine adults (5.5 million) had missed a bill or credit payment in the six months to January 2024. One in nine people also had no disposable income, the FCA said. Despite inflation - the rate at which consumer prices are rising - slowing in recent months, the cost of living is still hitting households hard. Energy bills and food costs remain much higher than they were a few years ago. It is also more expensive to borrow money after interest rates were hiked to their highest level in 16 years in an effort to slow cost increases for goods. Sheldon Mills, executive director of consumers and competition at the FCA, said its survey showed ""many people are still struggling with their bills"", but added it was ""encouraging to see some benefitting from the help that's available"". The regulator, which oversees the UK's financial companies and financial markets, said its annual cost-of-living survey consulted 3,450 UK adults, which its researchers then analysed to make projections for the whole population. Its main findings suggested that in January 2024: The FCA said about half of all adults had cut back or delayed spending on smaller things such as eating out and clothes, and cut back on food shopping. How is the cost of living affecting you? Get in touch. Meanwhile 26% had resorted to working more hours or working overtime or taking a second job or starting a ""side hustle"" to earn extra money. Some 12% had gone without some meals because they could not afford them, the survey found. Caroline Dove and Becky Ward, from Cambridgeshire, have been cooking and delivering hundreds of hot meals for people in need. They used to supply up to 40 meals twice a week when they started 18 months ago, but now it is about 90. ""One of my elderly ladies was actually buying dog food because it was cheaper than human food,"" said Ms Ward. ""She said she's gone through the war and the rations and all that sort of stuff and so dog food didn't taste any different to her."" Ms Dove said she pays for all the costs for ingredients and cooking, adding: ""We are all hitting hard times, as long as I have enough to get by myself, my grandkids, what else do I need?"" The FCA said people who rent, single adults with children, adults from minority ethnic backgrounds, and people living in the north east of England were ""more likely to be in financial difficulty"". The headline figure in the research, that 7.4 million - or one in seven people - were struggling to pay bills and debts, has come down from 10.9 million in 2023. But the number of people experiencing such problems was still well above the level (5.8 million) that results suggested in 2020, before the cost-of-living crisis began. Similar to 2023's survey, utility bills were the most commonly missed bills over the six months to January 2024, followed by credit card bills and council tax. While mortgage holders were slightly less likely than average to be in financial trouble, the FCA said there was an increase in the proportion struggling who had asked their provider to reduce their monthly payments or provide a payment holiday. It added more than a fifth of adults in the year to January 2024 cancelled an insurance or protection policy, reduced their level of cover, or chose not to buy a policy to save money. Mr Mills urged people worried about keeping up with payments to contact their lender ""straight away"" as support options are available, and discussing these will not affect a credit score. In response to the FCA's findings, Conor D'Arcy, interim chief executive of the Money and Mental Health Policy Institute, said it was ""encouraging"" that the number of people struggling with bills had dipped but added with millions still behind on payments, ""the impact of the cost of living crisis on our finances and mental health is likely to last a long time"". He said there was ""more for lenders to do"" to help, including ""reaching out to customers with support before people seek it"". Richard Lane, chief client officer at StepChange, said people on lower incomes were ""particularly struggling to repay significant household debt and relying on credit to keep up"". ""Research has shown that people in financial difficulty are often struggling with anxiety, embarrassment and stigma, and tend to try and juggle their finances and cope for too long before seeking help, when they could benefit from lender support and free debt advice sooner,"" he added. What to do if I can't pay my debts: ",BBC,09/04/2024,"['Some 7.4 million UK adults are still struggling to pay bills due to the high cost of living, a survey suggests.', 'The number has fallen from last year, according to the Financial Conduct Authority (FCA), but many households still feel ""heavily burdened"".', 'Its survey suggested one in nine adults (5.5 million) had missed a bill or credit payment in the six months to January 2024.', 'One in nine people also had no disposable income, the FCA said.', 'Despite inflation - the rate at which consumer prices are rising - slowing in recent months, the cost of living is still hitting households hard.', 'Energy bills and food costs remain much higher than they were a few years ago.', 'It is also more expensive to borrow money after interest rates were hiked to their highest level in 16 years in an effort to slow cost increases for goods.', 'Sheldon Mills, executive director of consumers and competition at the FCA, said its survey showed ""many people are still struggling with their bills"", but added it was ""encouraging to see some benefitting from the help that\'s available"".', ""The regulator, which oversees the UK's financial companies and financial markets, said its annual cost-of-living survey consulted 3,450 UK adults, which its researchers then analysed to make projections for the whole population."", 'Its main findings suggested that in January 2024: The FCA said about half of all adults had cut back or delayed spending on smaller things such as eating out and clothes, and cut back on food shopping.', 'How is the cost of living affecting you?', 'Get in touch.', 'Meanwhile 26% had resorted to working more hours or working overtime or taking a second job or starting a ""side hustle"" to earn extra money.', 'Some 12% had gone without some meals because they could not afford them, the survey found.', 'Caroline Dove and Becky Ward, from Cambridgeshire, have been cooking and delivering hundreds of hot meals for people in need.', 'They used to supply up to 40 meals twice a week when they started 18 months ago, but now it is about 90. ""', 'One of my elderly ladies was actually buying dog food because it was cheaper than human food,"" said Ms Ward. ""', 'She said she\'s gone through the war and the rations and all that sort of stuff and so dog food didn\'t taste any different to her.""', 'Ms Dove said she pays for all the costs for ingredients and cooking, adding: ""We are all hitting hard times, as long as I have enough to get by myself, my grandkids, what else do I need?""', 'The FCA said people who rent, single adults with children, adults from minority ethnic backgrounds, and people living in the north east of England were ""more likely to be in financial difficulty"".', 'The headline figure in the research, that 7.4 million - or one in seven people - were struggling to pay bills and debts, has come down from 10.9 million in 2023.', 'But the number of people experiencing such problems was still well above the level (5.8 million) that results suggested in 2020, before the cost-of-living crisis began.', ""Similar to 2023's survey, utility bills were the most commonly missed bills over the six months to January 2024, followed by credit card bills and council tax."", 'While mortgage holders were slightly less likely than average to be in financial trouble, the FCA said there was an increase in the proportion struggling who had asked their provider to reduce their monthly payments or provide a payment holiday.', 'It added more than a fifth of adults in the year to January 2024 cancelled an insurance or protection policy, reduced their level of cover, or chose not to buy a policy to save money.', 'Mr Mills urged people worried about keeping up with payments to contact their lender ""straight away"" as support options are available, and discussing these will not affect a credit score.', 'In response to the FCA\'s findings, Conor D\'Arcy, interim chief executive of the Money and Mental Health Policy Institute, said it was ""encouraging"" that the number of people struggling with bills had dipped but added with millions still behind on payments, ""the impact of the cost of living crisis on our finances and mental health is likely to last a long time"".', 'He said there was ""more for lenders to do"" to help, including ""reaching out to customers with support before people seek it"".', 'Richard Lane, chief client officer at StepChange, said people on lower incomes were ""particularly struggling to repay significant household debt and relying on credit to keep up"". ""', 'Research has shown that people in financial difficulty are often struggling with anxiety, embarrassment and stigma, and tend to try and juggle their finances and cope for too long before seeking help, when they could benefit from lender support and free debt advice sooner,"" he added.', ""What to do if I can't pay my debts:""]",-0.0966422450315468,"Sheldon Mills, executive director of consumers and competition at the FCA, said its survey showed ""many people are still struggling with their bills"", but added it was ""encouraging to see some benefitting from the help that's available"".","But the number of people experiencing such problems was still well above the level (5.8 million) that results suggested in 2020, before the cost-of-living crisis began.",-0.2738065859850715,"While mortgage holders were slightly less likely than average to be in financial trouble, the FCA said there was an increase in the proportion struggling who had asked their provider to reduce their monthly payments or provide a payment holiday.","The number has fallen from last year, according to the Financial Conduct Authority (FCA), but many households still feel ""heavily burdened"".",2024-04-10 -Barstool's Dave Portnoy won $2.7 million betting on UConn in NCAA men's final,https://www.cnbc.com/2024/04/09/barstools-dave-portnoy-won-2point7-million-on-uconn-ncaa-bet.html,2024-04-09T16:13:07+0000,"In this articleBarstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue on Monday night in the NCAA men's championship game.Portnoy tweeted the massive score off a March 20 $600,000 wager on the Huskies winning the national championship. Portnoy's bet was a moneyline wager placed right before the NCAA tournament began, and required UConn to win six straight games for it to pay off for him. The bet paid off at 3.6-to-1.DraftKings confirmed to CNBC it took the bet.""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.""Barstool signed a multiyear deal with DraftKings in February. The sports media company was previously owned by Penn Entertainment.DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C. — five additional states since this time last year.The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year. That's equivalent to 2.2% of the total handle wagered on any sporting events last year.Geolocation tracking company GeoComply, which operators use to police bettors' locations, told CNBC it saw a 42% increase in checks over the 2023 tournament.DraftKings said Monday's game was the most bet-on college basketball game of all time for the sportsbook.FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle.At Caesars Sportsbook, Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game.""It was a tournament for the customers as favorites covered the spread 61% of the time,"" Craig Mucklow, Caesars Sportsbook's vice president of trading, said in an email.Betting on the women's tournament was particularly lucrative for the sportsbooks.South Carolina's undefeated season and the heroics of superstar Caitlin Clark fueled a massive influx of bets. FanDuel, BetMGM and Fanatics say the championship game was their single biggest betting event on women's sports. Caesars said the women's championship saw double the previous handle record for a women's college basketball game.""We could only imagine the handle if the game was given a proper primetime slot,"" Mucklow said of the women's final.— CNBC's Dan Mangan contributed to this report.",CNBC,09/04/2024,"[""In this articleBarstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue on Monday night in the NCAA men's championship game."", 'Portnoy tweeted the massive score off a March 20 $600,000 wager on the Huskies winning the national championship.', ""Portnoy's bet was a moneyline wager placed right before the NCAA tournament began, and required UConn to win six straight games for it to pay off for him."", 'The bet paid off at 3.6-to-1.DraftKings confirmed to CNBC it took the bet.', '""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.', '""Barstool signed a multiyear deal with DraftKings in February.', 'The sports media company was previously owned by Penn Entertainment.', 'DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C. — five additional states since this time last year.', 'The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year.', ""That's equivalent to 2.2% of the total handle wagered on any sporting events last year."", ""Geolocation tracking company GeoComply, which operators use to police bettors' locations, told CNBC it saw a 42% increase in checks over the 2023 tournament."", ""DraftKings said Monday's game was the most bet-on college basketball game of all time for the sportsbook."", ""FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle."", ""At Caesars Sportsbook, Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game."", '""It was a tournament for the customers as favorites covered the spread 61% of the time,"" Craig Mucklow, Caesars Sportsbook\'s vice president of trading, said in an email.', ""Betting on the women's tournament was particularly lucrative for the sportsbooks."", ""South Carolina's undefeated season and the heroics of superstar Caitlin Clark fueled a massive influx of bets."", ""FanDuel, BetMGM and Fanatics say the championship gamewas their single biggest betting event on women's sports."", ""Caesars said the women's championship saw double the previous handle record for a women's college basketball game."", '""We could only imagine the handle if the game was given a proper primetime slot,"" Mucklow said of the women\'s final.—', ""CNBC's Dan Mangan contributed to this report.""]",0.3113093424054897,"""The greatest bet of my life,"" Portnoy said in the post on social media site X. ""The biggest win of my life by a mile.",The American Gaming Association estimated Americans would legally wager $2.72 billion on the March Madness tournaments this year.,0.9950777232646942,FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle.,,2024-04-10 -"Disney's Iger says Peltz proxy battle was a 'distraction,' board is focused on picking his successor",https://www.cnbc.com/2024/04/04/bob-iger-discusses-proxy-fight-with-nelson-peltz-after-board-vote.html,2024-04-04T15:46:01+0000,"In this articleNelson Peltz's proxy battle was a ""distraction"" and Disney can now focus on trying to turn a streaming profit and planning its succession, its CEO Bob Iger said on CNBC's ""Squawk on the Street"" on Thursday, just one day after handing a stinging defeat to the activist investor.""One of the things that I feel great about right now is, put the victory aside, that I can spend all of my time with the management team and the board on executing against those priorities,"" he said.While Disney rolled out a string of initiatives to boost shares in recent months as the board battle went on, Iger noted that Peltz's second proxy attempt did little to affect the company's strategy for succession, business investments or its shift in content plans.Iger told CNBC that choosing his replacement ""is the board's No. 1 priority."" He said Disney's succession committee, which was established when he returned to his post in late 2022, held a number of meetings in 2023, with plans for more in 2024. Iger noted that the activism has not changed Disney's succession process. Iger's contract runs to 2026.Iger spoke about the challenges Bob Chapek faced when he took over the company in 2020, including shutdowns of film and TV production, the closure of theme parks and the discontinuation of live sporting events. Chapek held the post for more than two years before Iger returned to it.""Obviously, we all learn from the past, and we're prepared for this process to be successful,"" Iger said.In an interview with CNBC on Thursday, Peltz said he did not have any personal vendetta against Iger but wanted to ensure the company had a leadership plan in place.""The only issue I had with Bob was the succession plan, which again is at the feet of the board,"" he said.Iger also disputed the notion that Peltz's activism was responsible for recent company stock gains — a claim the investor has made himself.""The market is reacting to how this company is performing,"" Iger said. ""It was not reacting really to the activist.""Shares of Disney are up 32% year to date. They rallied in February after the company made a series of major announcements during its earnings call, including that it had obtained the exclusive streaming rights to Taylor Swift's Eras Tour concert film, made a $1.5 billion strategic investment in Epic Games and would launch a flagship ESPN streaming service.For months, Disney had battled against Peltz's Trian Fund Management, which sought two of the company's board seats. Peltz had publicly lambasted Disney for its sustained share underperformance, failed succession process and what he claimed was billions in misdirected investments.Peltz told CNBC he would not try to wage another battle against Disney if Iger follows through on plans to improve the company's performance.""I hope Bob can keep his promises,"" Peltz said Thursday. "" I hope they can do all the things they assured us they were going to do. I'll watch and wait. If they do it, they won't hear from me again.""Shareholders sided with Disney during Wednesday's investor meeting. Peltz lost his board seat race to Maria Elena Lagomasino by a 2-to-1 margin, and former Disney Chief Financial Officer Jay Rasulo, whom Trian also nominated, lost to Lagomasino by a 5-to-1 margin, a person familiar with the matter said. Retail voters overwhelmingly supported Disney, that person added, helping to deliver Iger 94% of the overall vote.A second activist, Blackwells, also failed to win board seats in its own long-shot bid.Percentage-wise, turnout for the director vote was in the mid-60s, another person familiar with the matter said. In 2023, around 63% of Disney shareholders voted.Iger has done much to try to right the ship at Disney since returning to the helm of the company in late 2022. He undid a new corporate structure instituted by the short-reigning Chapek and pulled back on the number of film and television projects the company was producing. Iger also announced a plan last year to invest $60 billion in Disney's theme park, cruise and experience business over the next 10 years.Up next is a new bundled sports service with Warner Bros. Discovery and Fox, as well as a flagship standalone ESPN service, which will eventually be available directly through Disney+.""What we're trying to do is basically serve sports fans in multiple ways,"" Iger said, adding that he doesn't expect significant cannibalization between the two products.Iger said the flagship ESPN service will have significantly more content than the ESPN component of the joint venture will have. He declined to disclose more about the joint venture, including a potential name or price point for the service.",CNBC,04/04/2024,"['In this articleNelson Peltz\'s proxy battle was a ""distraction"" and Disney can now focus on trying to turn a streaming profit and planning its succession, its CEO Bob Iger said on CNBC\'s ""Squawk on the Street"" on Thursday, just one day after handing a stinging defeat to the activist investor.', '""One of the things that I feel great about right now is, put the victory aside, that I can spend all of my time with the management team and the board on executing against those priorities,"" he said.', ""While Disney rolled out a string of initiatives to boost shares in recent months as the board battle went on, Iger noted that Peltz's second proxy attempt did little to affect the company's strategy for succession, business investments or its shift in content plans."", 'Iger told CNBC that choosing his replacement ""is the board\'s No.', '1 priority.""', ""He said Disney'ssuccession committee, which was established whenhereturned to his post in late 2022, held a number of meetings in 2023, with plans for more in 2024."", ""Iger noted that the activism has not changed Disney's succession process."", ""Iger's contract runs to 2026.Iger spoke about the challenges Bob Chapek faced when he took over the company in 2020, including shutdowns of film and TV production, the closure of theme parks and the discontinuation of live sporting events."", 'Chapek held the post for more than two years before Iger returned to it.', '""Obviously, we all learn from the past, and we\'re prepared for this process to be successful,"" Iger said.', 'In an interview with CNBC on Thursday, Peltz said he did not have any personal vendetta against Iger but wanted to ensure the company had a leadership plan in place.', '""The only issue I had with Bob was the succession plan, which again is at the feet of the board,"" he said.', ""Iger also disputed the notion that Peltz's activism was responsible for recent company stock gains — a claim the investor has made himself."", '""The market is reacting to how this company is performing,"" Iger said. ""', 'It was not reacting really to the activist.', '""Shares of Disney are up 32% year to date.', ""They rallied in February after the company made a series of major announcements during its earnings call, including that it hadobtained the exclusive streaming rights to Taylor Swift's Eras Tour concert film, made a $1.5 billion strategic investment in Epic Gamesand would launcha flagship ESPN streaming service."", ""For months, Disney had battled against Peltz's Trian Fund Management, which sought two of the company's board seats."", 'Peltz had publicly lambasted Disney for its sustained share underperformance, failed succession process and what he claimed was billions in misdirected investments.', ""Peltz told CNBC he would not try to wage another battle against Disney if Iger follows through on plans to improve the company's performance."", '""I hope Bob can keep his promises,"" Peltz said Thursday. ""', 'I hope they can do all the things they assured us they were going to do.', ""I'll watch and wait."", ""If they do it, they won't hear from me again."", '""Shareholders sided with Disney during Wednesday\'s investor meeting.', 'Peltz lost his board seat race to Maria Elena Lagomasino by a 2-to-1 margin, and former Disney Chief Financial Officer Jay Rasulo, whom Trian also nominated, lost to Lagomasino by a 5-to-1 margin, a person familiar with the matter said.', 'Retail voters overwhelmingly supported Disney, that person added, helping to deliver Iger 94% of the overall vote.', 'A second activist, Blackwells, also failed to win board seats in its own long-shot bid.', 'Percentage-wise, turnout for the director vote was in the mid-60s, another person familiar with the matter said.', 'In 2023, around 63% of Disney shareholders voted.', 'Iger has done much to try to right the ship at Disney since returning to the helm of the company in late 2022.', 'He undid a new corporate structure instituted by the short-reigning Chapek and pulled back on the number of film and television projects the company was producing.', ""Iger also announced a plan last year to invest $60 billion in Disney's theme park, cruise and experience business over the next 10 years."", 'Up next is a new bundled sports service with Warner Bros. Discovery and Fox, as well as a flagship standalone ESPN service, which will eventually be available directly through Disney+.""What we\'re trying to do is basically serve sports fans in multiple ways,"" Iger said, adding that he doesn\'t expect significant cannibalization between the two products.', 'Iger said the flagship ESPN service will have significantly more content than the ESPN component of the joint venture will have.', 'He declined to disclose more about the joint venture, including a potential name or price point for the service.']",0.1477550938283659,"""Obviously, we all learn from the past, and we're prepared for this process to be successful,"" Iger said.","In this articleNelson Peltz's proxy battle was a ""distraction"" and Disney can now focus on trying to turn a streaming profit and planning its succession, its CEO Bob Iger said on CNBC's ""Squawk on the Street"" on Thursday, just one day after handing a stinging defeat to the activist investor.",0.2601167985371181,"""Shares of Disney are up 32% year to date.","Peltz had publicly lambasted Disney for its sustained share underperformance, failed succession process and what he claimed was billions in misdirected investments.",2024-04-10 -Iowa-South Carolina NCAA women's final draws record 18.7 million viewers,https://www.cnbc.com/2024/04/08/iowa-south-carolina-ncaa-womens-final-draws-18point7-million-viewers.html,2024-04-08T22:11:53+0000,"The NCAA Women's Championship between Iowa and South Carolina set a record on Sunday, drawing 18.7 million viewers on ABC and ESPN.The game peaked at 24 million viewers, ESPN said, and was the most-watched NCAA women's college basketball game since 1992. Viewership jumped 89% from last year's women's championship and 285% from 2022, according to ESPN.The championship, which saw Caitlin Clark-led Iowa fall to South Carolina, was the most-watched basketball game, either men's or women's and college or professional, since 2019.""With a record-setting audience of 18.7 million viewers, Sunday's Iowa-South Carolina title game was a fitting finale to the most-viewed ever NCAA Women's Basketball Tournament,"" said ESPN Chairman Jimmy Pitaro in a statement. ""These exceptional athletes, coaches and teams captured our attention in unprecedented ways and it's incumbent on all of us to keep the incredible momentum going.""The semifinals between Iowa and the University of Connecticut last week also shattered viewership records, peaking at 17 million viewers, according to ESPN.The growth was driven in part by players such as Clark, who has drawn comparisons to some of the sport's greatest of all time, fueling interest in women's basketball and attracting new viewers. Clark, 22, has dominated the court and set several records, luring in more fans with the ""Caitlin Clark Effect.""The March Madness tournament was the latest in a series of lightning rod moments for women's sports in recent months.Women's sports broke records in 2023, with estimates from Deloitte predicting that revenue generated by women's elite sports could surpass $1 billion this year — that is a 300% increase from just three years ago.Between groundbreaking media deals for women's sports and private investors and celebrities alike looking to get in, valuations for women's sports have been driven to record levels.",CNBC,08/04/2024,"[""The NCAA Women's Championship between Iowa and South Carolina set a record on Sunday, drawing 18.7 million viewers on ABC and ESPN.The game peaked at 24 million viewers, ESPN said, and was the most-watched NCAA women's college basketball game since 1992."", 'Viewership jumped 89% from last year\'s women\'s championship and 285% from 2022, according to ESPN.The championship, which saw Caitlin Clark-led Iowa fall to South Carolina, was the most-watched basketball game, either men\'s or women\'s and college or professional, since 2019.""With a record-setting audience of 18.7 million viewers, Sunday\'s Iowa-South Carolina title game was a fitting finale to the most-viewed ever NCAA Women\'s Basketball Tournament,"" said ESPN Chairman Jimmy Pitaro in a statement. ""', ""These exceptional athletes, coaches and teams captured our attention in unprecedented ways and it's incumbent on all of us to keep the incredible momentum going."", '""The semifinals between Iowa and the University of Connecticut last week also shattered viewership records, peaking at 17 million viewers, according to ESPN.The growth was driven in part by players such as Clark, who has drawn comparisons to some of the sport\'s greatest of all time, fueling interest in women\'s basketball and attracting new viewers.', 'Clark, 22, has dominated the court and set several records, luring in more fans with the ""Caitlin Clark Effect.', '""The March Madness tournament was the latest in a series of lightning rod moments for women\'s sports in recent months.', ""Women's sports broke records in 2023, with estimates from Deloitte predicting that revenue generated by women's elite sports could surpass $1 billion this year — that is a 300% increase from just three years ago."", ""Between groundbreaking media deals for women's sports and private investors and celebrities alike looking to get in, valuations for women's sports have been driven to record levels.""]",0.18015693465326,"""The semifinals between Iowa and the University of Connecticut last week also shattered viewership records, peaking at 17 million viewers, according to ESPN.The growth was driven in part by players such as Clark, who has drawn comparisons to some of the sport's greatest of all time, fueling interest in women's basketball and attracting new viewers.","""The March Madness tournament was the latest in a series of lightning rod moments for women's sports in recent months.",0.9979097843170166,"Viewership jumped 89% from last year's women's championship and 285% from 2022, according to ESPN.The championship, which saw Caitlin Clark-led Iowa fall to South Carolina, was the most-watched basketball game, either men's or women's and college or professional, since 2019.""With a record-setting audience of 18.7 million viewers, Sunday's Iowa-South Carolina title game was a fitting finale to the most-viewed ever NCAA Women's Basketball Tournament,"" said ESPN Chairman Jimmy Pitaro in a statement. """,,2024-04-10 -"Former Bowlero exec says company threatened to report him to FBI in proposed extortion, retaliation suit",https://www.cnbc.com/2024/04/09/former-bowlero-exec-says-company-threatened-to-report-him-to-fbi.html,2024-04-09T19:02:18+0000,"In this articleA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversation filed in court.The allegations by Bowlero's former chief information officer, Thomas Tanase, filed Wednesday in a proposed countersuit in Virginia federal court, come after he and dozens of others filed discrimination claims with the U.S. Equal Employment Opportunity Commission alleging they were fired based on their age or out of retaliation, according to company securities filings and the proposed countersuit. Bowlero denies the claims.The company, which went public in late 2021 through a special purpose acquisition company, or SPAC, was among the select successful stocks to emerge from the SPAC boom. It owns two of the biggest brands in bowling — AMF and Lucky Strike — and operated more than 300 bowling centers across North America as of July. Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.Tanase started with the company's information technology department in 2001 before climbing his way up to the C-suite, where he worked closely with the company's CEO and frequently had access to sensitive information contained in the CEO's email accounts, he said in court filings. He says the company fired him in May because of his age, and in August, he filed a discrimination claim with the EEOC, according to a copy of the claim, which was included as an exhibit to the proposed countersuit.Bowlero says that Tanase resigned and then had a change of heart when he realized he wouldn't get severance pay. In July, the company sued him, alleging he hacked into the email account of CEO Thomas Shannon, copied company documents onto a personal USB drive and refused to hand over his company-issued devices. Tanase denies the claims.Now, Tanase is seeking the court's permission to countersue Bowlero and the company's executive vice chairman, Brett Parker. Federal rules require Tanase to get permission to countersue given the timing of the filings.In the proposed countersuit, Tanase alleges that Parker threatened to report him to the FBI if he didn't admit to accessing Shannon's emails and ""come clean"" about information he shared with Daniel Dowe, the attorney representing the EEOC complainants, and with CNBC, which has previously written about the discrimination allegations against Bowlero. During a March deposition, Tanase testified that he hadn't spoken with CNBC, or any other media outlet, about the company.In a phone conversation between Tanase and Parker that Tanase recorded in June 2023, Bowlero's vice chairman and former finance chief allegedly asked Tanase numerous times to reveal what he'd said and told him that if he did, all would be forgiven, according to a transcript attached as an exhibit to the proposed counterclaim.""If you come clean there is a path where you are our friend ... You tell us everything that's transpired ... You tell us everything you know about Dowe everything that's ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.""Then there can be a number and there can be a go away and we can move on. But we have to get the truth and full clarity,"" Parker said, according to the transcript. ""You can ... Fall back into our good graces and be our friend in this matter and you will get paid to do that, but it has to start with the truth.""According to the transcript, Parker told Tanase if he explained everything and shared what information he had disclosed, the company could give him a ""severance,"" but ""you really don't want this to start with the police."" ""I'm not going to be able to fight this internally, and you're going to be trying to explain to the FBI that some device did this and I don't want you to be in that position,"" Parker said, according to the transcript. ""You gotta help me help you,"" he added.In response, Tanase repeatedly told Parker he didn't share any information with anyone and had been in the hospital when Shannon's email account was allegedly breached, according to the transcript. As Bowlero's former CIO, he previously had access to the CEO's account and said it may have still been logged in on another device.  ""I haven't done anything illegal ... I haven't done anything malicious either. I haven't talked to anything or given out any information to anybody. I've told you this before,"" said Tanase, according to the transcript.  Bowlero said the transcript simply shows the company trying to extend an ""olive branch"" to Tanase if he were to confess to the hacking allegations. ""Far from wrongfully seeking to obtain a benefit from Tanase, Mr. Parker ... acknowledges that he is 'trying to help.' These are all actions which, in the face of Tanase's hacking of Bowlero computer systems, neither Bowlero nor Mr. Parker were required to do,"" Bowlero said in filings.  ""Indeed, what Tanase suggests is 'extortion' is obviously no such thing. Hence, even if Tanase had a private right of action for an extortion claim, the elements of such a claim are not met here,"" the company said.Tanase further alleges that Bowlero's suit against him was brought in retaliation for his refusal to sign a termination agreement that required him to waive his right to pursue legal action against the company. He also claims Bowlero sued him to deter him from filing a complaint with the EEOC or serving as a witness in its investigation into Bowlero.Tanase's attorneys are seeking around $8 million in damages from Bowlero on the extortion claim and more than $27 million on the retaliation claim.Late Thursday, Bowlero asked the judge overseeing the case to deny the request to countersue and to sanction Tanase by either issuing a default judgment in the company's favor or precluding Tanase from further testimony. In court filings, the company said Tanase admitted he misstated facts in an earlier court affidavit, which he later corrected, and pointed out that he has hired at least three different law firms since the onset of the case.""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions. Bowlero's attorney Alex Spiro at law firm Quinn Emanuel, who has also represented A-listers such as Elon Musk and Alec Baldwin, said in a statement to CNBC Tanase ""will lose"" his request to file a countersuit, and that it ""is almost certainly going to be denied."" ""Mr. Tanase is now seeking the court's permission to file baseless counterclaims against Bowlero, five months after the deadline and five days before fact discovery will close. This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.""His counterclaims are completely frivolous and we are seeking fees for responding to his motion,"" he said.In response, Tanase's attorney Scott Pickus told CNBC if the court doesn't permit Tanase to move forward with his counterclaim in the case, the suit can and ""likely will"" be filed as a new action. He said he ""very much"" disagrees that the assertions made in the proposed counterclaim are frivolous. He said he won't comment on remarks Tanase made about misstating facts.""Suffice it to say that we disagree with Bowlero's interpretation of the law, disagree with Bowlero's recitation of the facts, and look forward to the trial of this matter,"" Pickus said.Bowlero has been embroiled in an EEOC investigation since 2016 involving more than 70 former employees who claim they were unlawfully fired. They allege that Bowlero fired them for being too old as it worked to transform its hundreds of locations from what the company has referred to as ""dingy"" bowling alleys to upmarket experiences with elevated food and drink offerings. Complaints and an affidavit filed by three former employees, including Tanase, say Shannon hosted ""beauty contests"" with prospective hires over brief video calls to evaluate a candidate's appearance as part of the hiring process. Tanase's complaint accused Shannon of making ""racial and especially inappropriate 'blonde women' jokes"" and ""always treated wom[e]n as an inferior class to men."" Tanase also alleged that the company's policies banning Timberland boots and ball caps worn backward were ""designed to deter African American males from using"" the company's bowling centers.The EEOC has found reasonable cause in the majority of the complaints brought against Bowlero, including Tanase's, while the rest remain under investigation, according to Tanase's complaint and company reports. When the EEOC finds reasonable cause in a complaint, it means it believes discrimination occurred.The EEOC previously tried to settle the complaints with Bowlero for $60 million in January 2023, but those efforts failed last April, CNBC previously reported. The agency now has the ability to file a federal lawsuit against the company, but it's unclear if it will. Before the agency can sue Bowlero in federal court, the EEOC's commissioners need to vote on the matter. Spiro, Bowlero's attorney, told CNBC the employment discrimination claims ""are without merit.""""The so-called eeoc issues are age based discrimination claims, some of which date back to nearly a decade ago and no civil nor eeoc suit has ever even occurred with respect to those claims,"" Spiro wrote in an email. Pickus, Tanase's attorney, said the EEOC's reasonable cause findings that Bowlero engaged in discriminatory practices dating back to 2013 ""would seem to belie Mr. Spiro's assertions"" that his client's counterclaims are ""frivolous.""""Those findings by the EEOC may well be why Bowlero has sued Mr. Tanase. Bowlero's actions remind me of a sports cliche: the best defense is a good offense,"" Pickus added.""We look forward to proving both claims,"" he said.Still at issue is whether Tanase resigned or was fired from his position — a dispute that's at the center of Bowlero's lawsuit, Tanase's proposed countersuit and his EEOC claim, which are all separate but related actions.In the leadup to his separation from Bowlero, Tanase said, the company began micromanaging him and harassing him by closely supervising his work so they could find a reason to fire him — a process he described as ""managing out,"" according to his EEOC complaint and proposed counterclaim. ""Although Tanase suspected for several months that his employment might be in jeopardy, at no time did he seek to secure confidential information, remove property, or engage in any other self-serving conduct while having full access to Bowlero's offices, office files, and computer servers,"" Tanase's attorneys wrote in the proposed counterclaim.In the EEOC's determination letter ruling that Tanase's claims of age discrimination had cause, Director Rosemarie Rhodes wrote that the conduct of Tanase's then-supervisor, current Bowlero President Lev Ekster, ""included unwarranted hostility, frequent criticism, unnecessary correction of his work, and undermining his authority and role vis-a-vis subordinates and vendors."" Bowlero alleged that following Tanase's separation from the company, he vowed to get ""revenge"" on his former employer and ""bury"" its CEO, according to its lawsuit against Tanase. The company alleged in its suit that Tanase told Bowlero Vice President of Human Resources Heather Webb that he had spoken with CNBC and several lawyers, including Dowe, about the company.""Mr. Tanase said he would 'walk away', which Ms. Webb understood to mean that he would no longer attempt to seek revenge or retribution on Bowlero or Mr. Shannon, if Bowlero were to pay him a $1.2 million 'severance' payment. Bowlero refused to make the payment,"" Bowlero's lawsuit said. Tanase denies the claims.",CNBC,09/04/2024,"[""In this articleA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a recorded call threatened to report him to the FBI if he didn't admit to spilling company secrets, according to a transcript of the conversationfiled in court."", ""The allegations by Bowlero's former chief information officer, Thomas Tanase, filed Wednesday in a proposed countersuit in Virginia federal court, come after he and dozens of others filed discrimination claims with the U.S. Equal Employment Opportunity Commission alleging they were fired based on their age or out of retaliation, according to company securities filings and the proposed countersuit."", 'Bowlero denies the claims.', 'The company, which went public in late 2021 through a special purpose acquisition company, or SPAC, was among the select successful stocks to emerge from the SPAC boom.', 'It owns two of the biggest brands in bowling — AMF and Lucky Strike — and operated more than 300 bowling centers across North America as of July.', 'Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.', ""Tanase started with the company's information technology department in 2001 beforeclimbing his way up to the C-suite, where he worked closely with the company's CEO and frequently had access to sensitive information contained in the CEO's email accounts, he said in court filings."", 'He says the company fired him in May because of his age, and in August, he filed a discrimination claim with the EEOC, according to a copy of the claim, which was included as an exhibit to the proposed countersuit.', ""Bowlero says that Tanase resigned and then had a change of heart when he realized he wouldn't get severance pay."", 'In July, the company sued him, alleging he hacked into the email account of CEO Thomas Shannon, copied company documents onto a personal USB drive and refused to hand over his company-issued devices.', 'Tanase denies the claims.', ""Now, Tanase is seeking the court's permission to countersue Bowlero and the company's executive vice chairman, Brett Parker."", 'Federal rules require Tanase to get permission to countersue given the timing of the filings.', 'In the proposed countersuit, Tanase alleges that Parker threatened to report him to the FBI if he didn\'t admit to accessing Shannon\'s emails and ""come clean"" about information he shared with Daniel Dowe, the attorney representing the EEOC complainants, and with CNBC, which has previously written about the discrimination allegations against Bowlero.', ""During a March deposition, Tanase testified that he hadn't spoken with CNBC, or any other media outlet, about the company."", ""In a phone conversation between Tanase and Parker that Tanase recorded in June 2023, Bowlero's vice chairman and former finance chief allegedly asked Tanase numerous times to reveal what he'd said and told him that if he did, all would be forgiven, according to a transcript attached as an exhibit to the proposed counterclaim."", '""If you come clean there is a path where you are our friend ... You tell us everything that\'s transpired ... You tell us everything you know about Dowe everything that\'s ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.', '""Then there can be a number and there can be a go away and we can move on.', 'But we have to get the truth and full clarity,"" Parker said, according to the transcript.', '""You can ... Fall back into our good graces and be our friend in this matter and you will get paid to do that, but it has to start with the truth.', '""According to the transcript, Parker told Tanase if he explained everything and shared what information he had disclosed, the company could give him a ""severance,"" but ""you really don\'t want this to start with the police.', '""""I\'m not going to be able to fight this internally, and you\'re going to be trying to explain to the FBI that some device did this and I don\'t want you to be in that position,"" Parker said, according to the transcript.', '""You gotta help me help you,"" he added.', ""In response, Tanase repeatedly told Parker he didn't share any information with anyone and had been in the hospital when Shannon's email account was allegedly breached, according to the transcript."", 'As Bowlero\'s former CIO, he previously had access to the CEO\'s account and said it may have still been logged in on another device. ""', ""I haven't done anything illegal ... I haven't done anything malicious either."", ""I haven't talked to anything or given out any information to anybody."", 'I\'ve told you this before,"" said Tanase, according to the transcript.', 'Bowlero said the transcript simply shows the company trying to extend an ""olive branch"" to Tanase if he were to confess to the hacking allegations.', '""Far from wrongfully seeking to obtain a benefit from Tanase, Mr. Parker ... acknowledges that he is \'trying to help.\'', 'These are all actions which, in the face of Tanase\'s hacking of Bowlero computer systems, neither Bowlero nor Mr. Parker were required to do,"" Bowlero said in filings.', '""Indeed, what Tanase suggests is \'extortion\' is obviously no such thing.', 'Hence, even if Tanase had a private right of action for an extortion claim, the elements of such a claim are not met here,"" the company said.', ""Tanase further alleges that Bowlero's suit against him was brought in retaliation for his refusal to sign a termination agreement that required him to waive his right to pursue legal action against the company."", 'He also claims Bowlero sued him to deter him from filing a complaint with the EEOC or serving as a witness in its investigation into Bowlero.', ""Tanase's attorneys are seeking around $8 million in damages from Bowlero on the extortion claim and more than $27 million on the retaliation claim."", ""Late Thursday, Bowlero asked the judge overseeing the case to deny the request to countersue and to sanction Tanase by either issuing a default judgment in the company's favor or precluding Tanase from further testimony."", 'In court filings, the company said Tanase admitted he misstated facts in an earlier court affidavit, which he later corrected, and pointed out that he has hired at least three different law firms since the onset of the case.', '""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions.', 'Bowlero\'s attorney Alex Spiro at law firm Quinn Emanuel, who has also represented A-listers such as Elon Musk and Alec Baldwin, said in a statement to CNBC Tanase ""will lose"" his request to file a countersuit, and that it ""is almost certainly going to be denied.', '""""Mr.', ""Tanase is now seeking the court's permission to file baseless counterclaims against Bowlero, five months after the deadline and five days before fact discovery will close."", 'This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.', '""His counterclaims are completely frivolous and we are seeking fees for responding to his motion,"" he said.', 'In response, Tanase\'s attorney Scott Pickus told CNBC if the court doesn\'t permit Tanase to move forward with his counterclaim in the case, the suit can and ""likely will"" be filed as a new action.', 'He said he ""very much"" disagrees that the assertions made in the proposed counterclaim are frivolous.', ""He said he won't comment on remarks Tanase made about misstating facts."", '""Suffice it to say that we disagree with Bowlero\'s interpretation of the law, disagree with Bowlero\'s recitation of the facts, and look forward to the trial of this matter,"" Pickus said.', 'Bowlero has been embroiled in an EEOC investigation since 2016 involving more than 70 former employees who claim they were unlawfully fired.', 'They allege that Bowlero fired them for being too old as it worked to transform its hundreds of locations from what the company has referred to as ""dingy"" bowling alleys to upmarket experiences with elevated food and drink offerings.', 'Complaints and an affidavit filed by three former employees, including Tanase, say Shannon hosted ""beauty contests"" with prospective hires over brief video calls to evaluate a candidate\'s appearance as part of the hiring process.', 'Tanase\'s complaint accused Shannon of making ""racial and especially inappropriate \'blonde women\' jokes"" and ""always treated wom[e]n as an inferior class to men.""', 'Tanase also alleged that the company\'s policies banning Timberland boots and ball caps worn backward were ""designed to deter African American males from using"" the company\'s bowling centers.', ""The EEOC has found reasonable cause in the majority of the complaints brought against Bowlero, including Tanase's, while the rest remain under investigation, according to Tanase's complaint and company reports."", 'When the EEOC finds reasonable cause in a complaint, it means it believes discrimination occurred.', 'The EEOC previously tried to settle the complaints with Bowlero for $60 million in January 2023, but those efforts failed last April, CNBC previously reported.', ""The agency now has the ability to file a federal lawsuit against the company, but it's unclear if it will."", ""Before the agency can sue Bowlero in federal court, the EEOC's commissioners need to vote on the matter."", 'Spiro, Bowlero\'s attorney, told CNBC the employment discrimination claims ""are without merit.', '""""The so-called eeoc issues are age based discrimination claims, some of which date back to nearly a decade ago and no civil nor eeoc suit has ever even occurred with respect to those claims,"" Spiro wrote in an email.', 'Pickus, Tanase\'s attorney, said the EEOC\'s reasonable cause findings that Bowlero engaged in discriminatory practices dating back to 2013 ""would seem to belie Mr. Spiro\'s assertions"" that his client\'s counterclaims are ""frivolous.', '""""Those findings by the EEOC may well be why Bowlero has sued Mr. Tanase.', 'Bowlero\'s actions remind me of a sports cliche: the best defense is a good offense,"" Pickus added.', '""We look forward to proving both claims,"" he said.', ""Still at issue is whether Tanase resigned or was fired from his position — a dispute that's at the center of Bowlero's lawsuit, Tanase's proposed countersuit and his EEOC claim, which are all separate but related actions."", 'In the leadup to his separation from Bowlero, Tanase said, the company began micromanaging him and harassing him by closely supervising his work so they could find a reason to fire him — a process he described as ""managing out,"" according to his EEOC complaint and proposed counterclaim.', '""Although Tanase suspected for several months that his employment might be in jeopardy, at no time did he seek to secure confidential information, remove property, or engage in any other self-serving conduct while having full access to Bowlero\'s offices, office files, and computer servers,"" Tanase\'s attorneys wrote in the proposed counterclaim.', 'In the EEOC\'s determination letter ruling that Tanase\'s claims of age discrimination had cause, Director Rosemarie Rhodes wrote that the conduct of Tanase\'s then-supervisor, current Bowlero President Lev Ekster, ""included unwarranted hostility, frequent criticism, unnecessary correction of his work, and undermining his authority and role vis-a-vis subordinates and vendors.', '""Bowlero alleged that following Tanase\'s separation from the company, he vowed to get ""revenge"" on his former employer and ""bury"" its CEO, according to its lawsuit against Tanase.', 'The company alleged in its suit that Tanase told Bowlero Vice President of Human Resources Heather Webb that he had spoken with CNBC and several lawyers, including Dowe, about the company.', '""Mr.', ""Tanase said he would 'walk away', which Ms. Webb understood to mean that he would no longer attempt to seek revenge or retribution on Bowlero or Mr. Shannon, if Bowlero were to pay him a $1.2 million 'severance' payment."", 'Bowlero refused to make the payment,"" Bowlero\'s lawsuit said.', 'Tanase denies the claims.']",-0.0728504854179812,"""If you come clean there is a path where you are our friend ... You tell us everything that's transpired ... You tell us everything you know about Dowe everything that's ever happened with respect to Dowe ... With respect to the CNBC,"" Parker said during the conversation, according to the transcript.","This cynical attempt to deflect attention from his bad acts is fatally flawed on both the merits and on the law — and Bowlero is confident it will prevail in its lawsuit against Mr. Tanase,"" said Spiro.",-0.2596658955920826,"Between 2021 and 2023, Bowlero nearly tripled its annual revenue, from $395 million to $1.06 billion, and it expects sales to grow between 10% and 15% in fiscal 2024, according to company filings.","""Tanase has so seriously impeached his own credibility that no testimony he can offer in his defense will rehabilitate him, and, in these circumstances, default judgment is appropriate in order to protect the integrity of the judicial process,"" Bowlero said in a memorandum in support of its request for sanctions.",2024-04-10 -Quantum rush: Denver-Boulder area aims to be the Silicon Valley of the future,https://www.cnbc.com/2024/04/09/quantum-rush-denver-boulder-aims-to-be-silicon-valley-of-the-future.html,2024-04-10T13:25:36+0000,"This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.Imagine a world where computers solve problems billions of times faster than today's machines can, ushering in a new era of scientific discovery.That's the promise of quantum technology — and a fierce race is underway to unlock its potential. In the shadow of the Rocky Mountains, the Denver-Boulder region is emerging as a global leader in this revolution.Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem.""The future looks really bright for us here. … We've built two of the largest quantum computers on the planet,"" Hays said in CNBC's primetime special ""Cities of Success: Denver & Boulder,"" which airs April 11 at 10 p.m. ET. ""The fact that we've been able to do that in 18 months is pretty remarkable.""In Denver, Maybell Quantum, another key player in the industry, is building a super refrigerator that chills atoms to extreme temperatures — more than 100,000 times colder than the coldest part of Antarctica.""It's 10 millikelvin,"" said Maybell Quantum CEO Corban Tillemann-Dick. That equates to negative 459.652 degrees Fahrenheit.Why so cold? The frigid conditions are essential for quantum computers to operate. The supercooled environment helps minimize even the tiniest vibrations that can disrupt a quantum chip's delicate subatomic calculations.Just like semiconductors fueled powerful computers and networking devices that made today's complex internet possible, Tillemann-Dick said the next big thing could be quantum technology. ""This technology is going to be as important to the next 100 years as semiconductors [were to] the internet or cellular technology. It'll transform everything from medicine to defense to agriculture,"" he said.The CEO said he envisions data centers filled with rows of quantum computers tackling the world's most pressing problems.""There will come a time not too far in the future … you will walk into a data center and there will be thousands of [quantum computers] lined up just like you have servers today, working on workloads from all over the world to solve these critical problems,"" he said.Physicist Richard Feynman is credited with pioneering the idea of quantum computing in the 1980s. It's come a long way since then. According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States. This designation is part of a program to invest in regions with high potential for growth in key technology sectors.Leading the charge to solidify Colorado's position as a quantum leader is Elevate Quantum Colorado, a private-public consortium of more than 100 organizations including the University of Colorado Boulder and other higher education institutions, state and local governments, federal labs and private companies.""The idea is to create Silicon Valleys where there aren't Silicon Valleys today against the most important technologies of our time,"" said Zachary Yerushalmi, Elevate Quantum Colorado's CEO. Yerushalmi noted that federal designation positions the state to become one of only a handful of quantum hubs nationwide.""We competed against 400 applicants across the nation, and we're fortunate to be selected as one of 31,"" Yerushalmi explained. ""This is where things really get hot … we're competing for $70 million from the federal government.""Only a handful of hubs will be selected to receive the funding — and Yerushalmi says he's optimistic of their chances, expecting a decision later this year.Meanwhile, Colorado Gov. Jared Polis, a firm believer in quantum's potential, is upping the stakes. In February, his administration unveiled plans to invest an additional $74 million into the quantum industry over five to nine years if Colorado is one of the regions selected to receive federal funding.""I'm bullish on quantum tech,"" Polis told CNBC in a recent interview. ""I think its time has come.""TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. ET.Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica. An earlier version of this story misstated the metric.",CNBC,10/04/2024,"[""This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees."", ""Imagine a world where computers solve problems billions of times faster than today's machines can, ushering in a new era of scientific discovery."", ""That's the promise of quantum technology — and a fierce race is underway to unlock its potential."", 'In the shadow of the Rocky Mountains, the Denver-Boulder region is emerging as a global leader in this revolution.', ""Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem."", '""The future looks really bright for us here. …', 'We\'ve built two of the largest quantum computers on the planet,"" Hays said in CNBC\'s primetime special ""Cities of Success: Denver & Boulder,"" which airs April 11 at 10 p.m. ET. ""', ""The fact that we've been able to do that in 18 months is pretty remarkable."", '""In Denver, Maybell Quantum, another key player in the industry, is building a super refrigerator that chills atoms to extreme temperatures — more than 100,000 times colder than the coldest part of Antarctica.', '""It\'s 10 millikelvin,"" said Maybell Quantum CEO Corban Tillemann-Dick.', 'That equates to negative 459.652 degrees Fahrenheit.', 'Why so cold?', 'The frigid conditions are essential for quantum computers to operate.', ""The supercooled environment helps minimize even the tiniest vibrations that can disrupt a quantum chip's delicate subatomic calculations."", ""Just like semiconductors fueled powerful computers and networking devices that made today's complex internet possible, Tillemann-Dick said the next big thing could be quantum technology."", '""This technology is going to be as important to the next 100 years as semiconductors [were to] the internet or cellular technology.', 'It\'ll transform everything from medicine to defense to agriculture,"" he said.', ""The CEO said he envisions data centers filled with rows of quantum computers tackling the world's most pressing problems."", '""There will come a time not too far in the future … you will walk into a data center and there will be thousands of [quantum computers] lined up just like you have servers today, working on workloads from all over the world to solve these critical problems,"" he said.', 'Physicist Richard Feynman is credited with pioneering the idea of quantum computing in the 1980s.', ""It's come a long way since then."", 'According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.', 'This designation is part of a program to invest in regions with high potential for growth in key technology sectors.', ""Leading the charge to solidify Colorado's position as a quantum leader is Elevate Quantum Colorado, a private-public consortium of more than 100 organizations including the University of Colorado Boulder and other higher education institutions, state and local governments, federal labs and private companies."", '""The idea is to create Silicon Valleys where there aren\'t Silicon Valleys today against the most important technologies of our time,"" said Zachary Yerushalmi, Elevate Quantum Colorado\'s CEO.Yerushalmi noted that federal designation positions the state to become one of only a handful of quantum hubs nationwide.', '""We competed against 400 applicants across the nation, and we\'re fortunate to be selected as one of 31,"" Yerushalmi explained. ""', ""This is where things really get hot … we're competing for $70 million from the federal government."", '""Only a handful of hubs will be selected to receive the funding — and Yerushalmi says he\'s optimistic of their chances, expecting a decision later this year.', ""Meanwhile, Colorado Gov. Jared Polis, a firm believer in quantum's potential, is upping the stakes."", 'In February, his administration unveiled plans to invest an additional $74 million into the quantum industry over five to nine years if Colorado is one of the regions selected to receive federal funding.', '""I\'m bullish on quantum tech,"" Polis told CNBC in a recent interview. ""', 'I think its time has come.', '""TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. ET.Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica.', 'An earlier version of this story misstated the metric.']",0.1755340387361876,"""TUNE IN: The ""Cities of Success"" special featuring Denver and Boulder will air on CNBC on April 11 at 10 p.m. ET.Correction: Maybell Quantum is building a super refrigerator that chills atoms to more than 100,000 times colder than the coldest part of Antarctica.","Atom Computing is based in the San Francisco area, but CEO Rob Hays told CNBC in a recent interview why his quantum company chose the city of Boulder for its new $100 million facility: the region's thriving ecosystem.",0.7769354701042175,"According to McKinsey, the four industries that are poised to see the biggest boost from quantum computing — automotive, chemicals, financial services and life sciences — are expected to reach $1.3 trillion in value by 2035.Helping Colorado in the boom, the Biden-Harris administration recently designated the Denver-Aurora region as one of 31 ""Tech Hubs"" in the United States.",That equates to negative 459.652 degrees Fahrenheit.,2024-04-10 -"Department stores face another squeeze. This time, with store credit card revenue",https://www.cnbc.com/2024/04/10/store-credit-cards-deal-department-stores-another-revenue-squeeze.html,2024-04-10T15:33:01+0000,"In this articleDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash. Starting this spring, though, those cards will become less lucrative. Late fees for customers will be capped at $8, down from an industry average of around $32, under a new rule from the Consumer Financial Protection Bureau. The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.Specialty retailers with store cards, such as Gap, will feel the pinch, but it'll be the most significant at department stores since their revenue is already under pressure, according to Jane Hali, CEO and retail analyst at equity research firm Jane Hali & Associates.""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.For fiscal 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom.Kohl's reported $924 million in ""other"" revenue in 2023, a broader category that includes unused gift cards and third-party advertising on its website, though Fitch Ratings estimates the majority of that revenue category is from credit cards.The three companies do not break out how much of total credit card revenue comes from late fees.Store-branded credit cards are a clear boon for retailers: They encourage purchases and come with virtually no overhead, said David Silverman, a retail analyst at Fitch Ratings.They're typically issued through financial services companies and banks, such as Synchrony Financial, TD Bank or Capital One. And they often come with extra perks for shoppers, such as additional discounts or rewards for repeat purchases.For retailers, the branded cards provide insights into customer behavior, since they track purchases, and can amount to a perpetual advertisement, right in customers' wallets, Silverman said.""If I'm constantly using my Macy's card or my Home Depot card or whatever it is, that brand is even more so part of my daily life,"" he said.Even before the CFPB ruling, retailers' credit cards faced challenges.Shoppers, particularly those who are younger, are paying in new ways like buy now, pay later, which allows a customer to pay back a purchase in installments. Use of buy now, pay later with online purchases between January and March totaled $19.2 billion, an increase of 12.3% from the year-ago period, according to Adobe Analytics, which analyzes online transactions across retail sites.Some customers are opting for credit cards that offer experience-based perks, such as access to airport lounges or early purchases of high-demand concert tickets.Plus, in a higher interest rate environment, getting customers to sign up for store cards or use them may be a trickier proposition. For retailer-issued credit cards, interest rates — also called APRs, or annual percentage rates — were about 29.33% on average as of early April, according Bankrate. That compares with an average of 20.75% for all U.S. credit cards.All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further.For all the millions brought in by private-label cards, they drive a small portion of retailers' net sales. The retailers' credit cards accounted for nearly 3% of Macy's net sales and a little over 3% of Nordstrom's net sales in the most recent fiscal year.Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies.Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year. Chief Operating Officer Michael Fiddelke said at an investor meeting in March that the discounter has seen softer spending on credit cards, but has been able to make it up with growth of its advertising business, Roundel.The big-box retailer recently relaunched its loyalty program as a three-tiered offering that includes a free tier, a paid annual membership and a credit card that's now called the Target Circle Card.Macy's, too, has dealt with falling credit card revenue. The segment's $619 million during the most recent fiscal year was a decline of about 28%. And the company said it expects that to tumble even further to between $475 million and $490 million for this fiscal year as net sales fall.That outlook doesn't take into account the credit card late fee ruling.Adrian Mitchell, chief operating officer and chief financial officer, told investors on the company's earnings call that Macy's is working with Citi, its financial partner, to try to offset the late fee ruling. It's also looking for strategies to increase customers' use of Macy's and Bloomingdale's credit cards, he said.Nordstrom, for its part, has reported year-over-year gains in credit card revenue for each of the past three years, though its haul is smaller than that of Kohl's, Macy's and Target. It downplayed the CFPB change, saying the average credit quality of its portfolio tends to be higher than other retailers, meaning it relies less on late fees.Gap does not disclose credit card revenue, but its chief financial officer, Katrina O'Connell, said on an earnings call that losses from late fees will be ""largely offset in 2024 by other levers within our credit card program."" The company declined to share specifics about those offsets.Some card issuers, such as Synchrony, have said they will make changes in the coming months, such as increasing APRs, to try to blunt the federal rule's effect. Synchrony is a major issuer of store cards, including the cards for Sam's Club and Lowe's.At Kohl's, it's a bit of a different story.Kohl's customers typically have lower household incomes than those of other retailers, such as Nordstrom, which makes them more likely to miss a payment and be subject to a late fee, said Lorraine Hutchinson, a research analyst at Bank of America.And, off-mall department store retailer Kohl's is chasing a turnaround under CEO Tom Kingsbury, the former chief of off-price chain Burlington, and is leaning in part on co-branded cards to pull it off.To offset losses, Kohl's has been working to get customers to switch from store-branded credit cards, which can only be used in its stores and on its website, to co-branded Capital One cards that can be used to pay for other purchases, too.In an interview with CNBC in mid-March, Kingsbury said the company had previously planned to introduce the co-branded cards, but accelerated its plans because of the impending CFPB late fee cap.Co-branded cards ""will help offset any late fee changes that we have,"" he said.Kingsbury said as of March that Kohl's has converted nearly 700,000 private-label cardholders. It plans to convert about 5 million more later this year, covering more than a quarter of its 20 million active cardholders.He also underscored why Kohl's — and other retailers — want to be in the credit card business.On average, Kohl's credit customers spend six times more per year than shoppers who don't belong to its loyalty program, Kingsbury said. Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.— CNBC's Gabrielle Fonrouge contributed to this report.",CNBC,10/04/2024,"[""In this articleDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash."", 'Starting this spring, though, those cards will become less lucrative.', 'Late fees for customers will be capped at $8, down from an industry average of around $32, under a new rule from the Consumer Financial Protection Bureau.', ""The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances."", ""Specialty retailers with store cards, such as Gap, will feel the pinch, but it'll be the most significant at department stores since their revenue is already under pressure, according to Jane Hali, CEO and retail analyst at equity research firm Jane Hali & Associates."", '""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.', ""For fiscal 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom."", 'Kohl\'s reported $924 million in ""other"" revenue in 2023, a broader category that includes unused gift cards and third-party advertising on its website, though Fitch Ratings estimates the majority of that revenue category is from credit cards.', 'The three companies do not break out how much of total credit card revenue comes from late fees.', 'Store-branded credit cards are a clear boon for retailers: They encourage purchases and come with virtually no overhead, said David Silverman, a retail analyst at Fitch Ratings.', ""They're typically issued through financial services companies and banks, such as Synchrony Financial, TD Bank or Capital One."", 'And they often come with extra perks for shoppers, such as additional discounts or rewards for repeat purchases.', ""For retailers, the branded cards provide insights into customer behavior, since they track purchases, and can amount to a perpetual advertisement, right in customers' wallets, Silverman said."", '""If I\'m constantly using my Macy\'s card or my Home Depot card or whatever it is, that brand is even more so part of my daily life,"" he said.', ""Even before the CFPB ruling, retailers' credit cards faced challenges."", 'Shoppers, particularly those who are younger, are paying in new ways like buy now, pay later, which allows a customer to pay back a purchase in installments.', 'Use of buy now, pay later with online purchases between January and March totaled $19.2 billion, an increase of 12.3% from the year-ago period, according to Adobe Analytics, which analyzes online transactions across retail sites.', 'Some customers are opting for credit cards that offer experience-based perks, such as access to airport lounges or early purchases of high-demand concert tickets.', 'Plus, in a higher interest rate environment, getting customers to sign up for store cards or use them may be a trickier proposition.', 'For retailer-issued credit cards, interest rates — also called APRs, or annual percentage rates — were about 29.33% on average as of early April, according Bankrate.', 'That compares with an average of 20.75% for all U.S. credit cards.', 'All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further.', ""For all the millions brought in by private-label cards, they drive a small portion of retailers' net sales."", ""The retailers' credit cards accounted for nearly 3% of Macy's net sales and a little over 3% of Nordstrom's net sales in the most recent fiscal year."", ""Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies."", ""Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year."", 'Chief Operating Officer Michael Fiddelke said at an investor meeting in March that the discounter has seen softer spending on credit cards, but has been able to make it up with growth of its advertising business, Roundel.', ""The big-box retailer recently relaunched its loyalty program as a three-tiered offering that includes a free tier, a paid annual membership and a credit card that's now called the Target Circle Card."", ""Macy's, too, has dealt with falling credit card revenue."", ""The segment's $619 million during the most recent fiscal year was a decline of about 28%."", 'And the company said it expects that to tumble even further to between $475millionand $490million for this fiscal year as net sales fall.', ""That outlook doesn't take into account the credit card late fee ruling."", ""Adrian Mitchell, chief operating officer and chief financial officer, told investors on the company's earnings call that Macy's is working with Citi, its financial partner, to try to offset the late fee ruling."", ""It's also looking for strategies to increase customers' use of Macy's and Bloomingdale's credit cards, he said."", ""Nordstrom, for its part, has reported year-over-year gains in credit card revenue for each of the past three years, though its haul is smaller than that of Kohl's, Macy's and Target."", 'It downplayed the CFPB change, saying the average credit quality of its portfolio tends to be higher than other retailers, meaning it relies less on late fees.', 'Gap does not disclose credit card revenue, but its chief financial officer, Katrina O\'Connell, said on an earnings call that losses from late fees will be ""largely offset in 2024 by other levers within our credit card program.""', 'The company declined to share specifics about those offsets.', ""Some card issuers, such as Synchrony, have said they will make changes in the coming months, such as increasing APRs, to try to blunt the federal rule's effect."", ""Synchrony is a major issuer of store cards, including the cards for Sam's Club and Lowe's."", ""At Kohl's, it's a bit of a different story."", ""Kohl's customers typically have lower household incomes than those of other retailers, such as Nordstrom, which makes them more likely to miss a payment and be subject to a late fee, said Lorraine Hutchinson, a research analyst at Bank of America."", ""And, off-mall department store retailer Kohl's is chasing a turnaround under CEO Tom Kingsbury, the former chief of off-price chain Burlington, and is leaning in part on co-branded cards to pull it off."", ""To offset losses, Kohl's has been working to get customers to switch from store-branded credit cards, which can only be used in its stores and on its website, to co-branded Capital One cards that can be used to pay for other purchases, too."", 'In an interview with CNBC in mid-March, Kingsbury said the company had previously planned to introduce the co-branded cards, but accelerated its plans because of the impending CFPB late fee cap.', 'Co-branded cards ""will help offset any late fee changes that we have,"" he said.', ""Kingsbury said as of March that Kohl's has converted nearly 700,000 private-label cardholders."", 'It plans to convert about 5 million more later this year, covering more than a quarter of its 20 million active cardholders.', ""He also underscored why Kohl's — and other retailers — want to be in the credit card business."", ""On average, Kohl's credit customers spend six times more per year than shoppers who don't belong to its loyalty program, Kingsbury said."", 'Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.—', ""CNBC's Gabrielle Fonrouge contributed to this report.""]",0.2639977157326827,"The change faces legal challenges, but is scheduled to take effect on May 14.The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.","""We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail,"" she said.",-0.0032207988775693,"Incremental credit revenue from the co-branded card is expected to grow to between $250 million and $300 million annually by 2025, he said.—","Kohl's, Macy's and Target all reported year-over-year declines in credit card revenue for the most recent fiscal year — a reflection of reduced discretionary spending and normalizing credit patterns, according to the companies.",2024-04-10 -"Spire Global bets on AI to help improve weather forecasts, with boost from Nvidia",https://www.cnbc.com/2024/04/05/spire-global-nvidia-see-potential-in-using-ai-to-help-predict-weather.html,2024-04-05T15:19:51+0000,"In this articleArtificial intelligence has been instrumental to weather forecast modeling for years, and recent breakthroughs in generative AI dangle the possibility of it becoming more accurate.That's what Spire Global is betting on in its recently announced partnership with AI darling Nvidia.""What deep learning and neural networks and generative AI have done is they have shifted the power from those who have access to supercomputers a bit more to those who have access to super data,"" Peter Platzer, CEO and co-founder of Spire Global, told CNBC's Morgan Brennan in an interview on CNBC's ""Manifest Space"" podcast. ""Because the supercomputer side with a model has been replaced with hyper efficient GPUs [graphics processing units], you can run something that used to take eight hours, and you can now run it in eight seconds,"" he explained. ""For us, that has been always a vision that we knew eventually was going to come, so when this [Nvidia] partnership became possible, we jumped on that.""Twelve-year old Spire Global is in the radio frequency sensing business, operating a satellite constellation that collects space-based radio frequency data that can be analyzed and sold as a service. It offers information on weather, climate, and ship and aircraft movements, as well as has a space services business.The opportunity in weather forecasting, though, is huge: A third of the global economy — roughly $30 trillion worth of global GDP — ranging from trade to agriculture to power generation is subject to weather, according to Platzer.He estimates there are some 175 major use cases across up to 200,000 customers or customer types globally when it comes to weather forecasting. In other words, the need for more accurate forecasts, particularly with more lead time, is in high demand.Follow and listen to CNBC's ""Manifest Space"" podcast, hosted by Morgan Brennan, wherever you get your podcasts.So what does this collaboration with Nvidia entail? ""It allows us access to their infrastructure to serve our customers better, with more valuable products and new use cases … and them access to our data to improve their modeling, their machinery,"" Platzer said.Nonetheless, ""at this point in time there is no immediate economic flow from Nvidia to Spire or vice versa,"" he noted.As has been the case with a growing list of companies working with the semiconductor stalwart, investors reacted favorably to the news, which was disclosed at Nvidia's GTC developer conference in March.Nvidia CEO Jensen Huang unveiled a ""digital twin"" of Earth called Earth-2 onstage that essentially pairs the open cloud platform with Nvidia's generative AI model CorrDiff and Spire's satellite data to improve existing weather and climate prediction models.Spire Global, a small capitalization stock that went public through a SPAC merger in 2021, shot up roughly 40% in response.Spire then raised $30 million through a direct offering of common stock to two institutional investors — an offering that closed last week.""We had a number of investors competing to get in on the Spire story,"" Platzer said. ""For us, it means that we can deliver the balance sheet, we can lower our cost of capital, we can create more flexibility … we're going to have fewer debt payments, which increases our free cash flow and that helps us on that path to free cash flow profitability.""Spire Global forecasts achieving positive free cash flow this summer, or by the third quarter of 2024.",CNBC,05/04/2024,"['In this articleArtificial intelligence has been instrumental to weather forecast modeling for years, and recent breakthroughs in generative AI dangle the possibility of it becoming more accurate.', ""That's what Spire Global is betting on in its recently announced partnership with AI darling Nvidia."", '""What deep learning and neural networks and generative AI have done is they have shifted the power from those who have access to supercomputers a bit more to those who have access to super data,"" Peter Platzer, CEO and co-founder of Spire Global, told CNBC\'s Morgan Brennan in an interview on CNBC\'s ""Manifest Space"" podcast.', '""Because the supercomputer side with a model has been replaced with hyper efficient GPUs [graphics processing units], you can run something that used to take eight hours, and you can now run it in eight seconds,"" he explained. ""', 'For us, that has been always a vision that we knew eventually was going to come, so when this [Nvidia] partnership became possible, we jumped on that.', '""Twelve-year old Spire Global is in the radio frequency sensing business, operating a satellite constellation that collects space-based radio frequency data that can be analyzed and sold as a service.', 'It offers information on weather, climate, and ship and aircraft movements, as well as has a space services business.', 'The opportunity in weather forecasting, though, is huge: A third of the global economy — roughly $30 trillion worth of global GDP — ranging from trade to agriculture to power generation is subject to weather, according to Platzer.', 'He estimates there are some 175 major use cases across up to 200,000 customers or customer types globally when it comes to weather forecasting.', 'In other words, the need for more accurate forecasts, particularly with more lead time, is in high demand.', 'Follow and listen to CNBC\'s""Manifest Space"" podcast, hosted by Morgan Brennan, wherever you get your podcasts.', 'So what does this collaboration with Nvidia entail? ""', 'It allows us access to their infrastructure to serve our customers better, with more valuable products and new use cases … and them access to our data to improve their modeling, their machinery,"" Platzer said.', 'Nonetheless, ""at this point in time there is no immediate economic flow from Nvidia to Spire or vice versa,"" he noted.', ""As has been the case with a growing list of companies working with the semiconductor stalwart, investors reacted favorably to the news, which was disclosed at Nvidia's GTC developer conference in March."", 'Nvidia CEO Jensen Huang unveiled a ""digital twin"" of Earth called Earth-2 onstage that essentially pairs the open cloud platform with Nvidia\'s generative AI model CorrDiff and Spire\'s satellite data to improve existing weather and climate prediction models.', 'Spire Global, a small capitalization stock that went public through a SPAC merger in 2021, shot up roughly 40% in response.', 'Spire then raised $30 million through a direct offering of common stock to two institutional investors — an offering that closed last week.', '""We had a number of investors competing to get in on the Spire story,"" Platzer said. ""', ""For us, it means that we can deliver the balance sheet, we can lower our cost of capital, we can create more flexibility … we're going to have fewer debt payments, which increases our free cash flow and that helps us on that path to free cash flow profitability."", '""Spire Global forecasts achieving positive free cash flow this summer, or by the third quarter of 2024.']",0.3070225516946503,"For us, it means that we can deliver the balance sheet, we can lower our cost of capital, we can create more flexibility … we're going to have fewer debt payments, which increases our free cash flow and that helps us on that path to free cash flow profitability.","Nonetheless, ""at this point in time there is no immediate economic flow from Nvidia to Spire or vice versa,"" he noted.",0.96539615922504,"Spire Global, a small capitalization stock that went public through a SPAC merger in 2021, shot up roughly 40% in response.",,2024-04-10 -"The rich are getting second passports, citing risk of instability",https://www.cnbc.com/2024/04/10/rich-americans-get-second-passports-citing-risk-of-instability.html,2024-04-10T12:44:24+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.The wealthy are building these ""passport portfolios"" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country. Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.""The U.S. is still a great country, it's still an amazing passport,"" said Dominic Volek, group head of private clients at Henley & Partners. ""But if I'm wealthy, I would like to hedge against levels of volatility and uncertainty. The idea of diversification is well understood by wealthy individuals around what they invest. It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.""Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.Of course, the wealthy aren't packing up en masse and ditching their American citizenship. While a relatively small number of Americans do renounce their citizenship every year to declare a new home country, mainly due to tax-filing requirements, the so-called ""exit tax"" required to renounce citizenship makes it financially prohibitive for most except the ultra-wealthy to simply renounce and declare a new citizenship.Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport.According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy. Portugal's ""Golden Visa"" program is especially popular since it provides a path to residency and citizenship — with visa-free travel in Europe — in exchange for an investment of 500,000 euros (roughly $541,000) in a fund or private equity. Malta offers a Golden Visa for 300,000 euros invested in real estate, which Volek said has become ""especially popular with Americans.""""With Malta you become a European citizen, with complete settlement rights across Europe,"" he said. ""So you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.""There are three main reasons for the rise of American passport portfolios, or ""domicile diversification."" An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""With rising global instability, holding citizenship in another country, particularly one that is considered more neutral or politically benign, now provides a valuable back-up or alternative option.""Another reason is business travel, which can be safer and less conspicuous with a non-U.S. passport in many countries. U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.Using a secondary passport can also help cross-border financial transfers or deals within the new country.Finally, some wealthy Americans simply want a back-up residency for possible retirement, to be closer to their families who live abroad or for lifestyle reasons in the new age of remote work. For others, U.S. politics is the driver.  ""We all live in uncertain times, not just in the U.S., but in all nations globally,"" Volek said. ""Who knows what's going to happen next. It's really about having not only a Plan B but Plan C and D in place as well.""Globally, millionaire migration is expected to hit a new high in 2024, as wars, government crackdowns on wealth, and political uncertainty drive more wealthy residents to other countries. An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.The U.S. remains a top destination for global millionaires leaving other countries, with a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to Henley.China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.""The wealth-creation opportunities in the U.S. are second to none globally,"" Volek said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,10/04/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'Wealthy U.S. families are increasingly applying for second citizenships and national residences as a way to hedge their financial risk, according to a leading law firm.', 'The wealthy are building these ""passport portfolios"" — collections of second, and even third or fourth, citizenships — in case they need to flee their home country.', 'Henley & Partners, a law firm that specializes in high-net-worth citizenships, said Americans now outnumber every other nationality when it comes to securing alternative residences or added citizenships.', '""The U.S. is still a great country, it\'s still an amazing passport,"" said Dominic Volek, group head of private clients at Henley & Partners. ""', ""But if I'm wealthy, I would like to hedge against levels of volatility and uncertainty."", 'The idea of diversification is well understood by wealthy individuals around what they invest.', 'It makes no sense to have one country of citizenship and residence when I have the ability to actually diversify that aspect of my life as well.', '""Recent high-profile examples of second citizenships include billionaire tech investor Peter Thiel, who added a citizenship in New Zealand, and former Google CEO Eric Schmidt, who applied for citizenship in Cyprus.', ""Of course, the wealthy aren't packing up en masse and ditching their American citizenship."", 'While a relatively small number of Americans do renounce their citizenship every year to declare a new home country, mainly due to tax-filing requirements, the so-called ""exit tax"" required to renounce citizenship makes it financially prohibitive for most except the ultra-wealthy to simply renounce and declare a new citizenship.', 'Instead, many wealthy Americans are shopping around for an added visa or citizenship program to supplement their U.S. passport.', 'According to Henley, the top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy.', 'Portugal\'s ""Golden Visa"" program is especially popular since it provides a path to residency and citizenship — with visa-free travel in Europe — in exchange for an investment of 500,000 euros (roughly $541,000) in a fund or private equity.', 'Malta offers a Golden Visa for 300,000 euros invested in real estate, which Volek said has become ""especially popular with Americans.', '""""With Malta you become a European citizen, with complete settlement rights across Europe,"" he said. ""', 'So you can live in Germany, your kids can go and study in France and you have the right to live, work and study throughout Europe.', '""There are three main reasons for the rise of American passport portfolios, or ""domicile diversification.""', 'An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""', 'With rising global instability, holding citizenship in another country, particularly one that is considered more neutral or politically benign, now provides a valuable back-up or alternative option.', '""Another reason is business travel, which can be safer and less conspicuous with a non-U.S. passport in many countries.', 'U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.', 'Using a secondary passport can also help cross-border financial transfers or deals within the new country.', 'Finally, some wealthy Americans simply want a back-up residency for possible retirement, to be closer to their families who live abroad or for lifestyle reasons in the new age of remote work.', 'For others, U.S. politics is the driver. ""', 'We all live in uncertain times, not just in the U.S., but in all nations globally,"" Volek said. ""', ""Who knows what's going to happen next."", ""It's really about having not only a Plan B but Plan C and D in place as well."", '""Globally, millionaire migration is expected to hit a new high in 2024, as wars, government crackdowns on wealth, and political uncertainty drive more wealthy residents to other countries.', 'An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.', 'The U.S. remains a top destination for global millionaires leaving other countries, with a net inflow of 2,200 millionaires in 2023 and a projected inflow of 3,500 in 2024, according to Henley.', 'China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.', '""The wealth-creation opportunities in the U.S. are second to none globally,"" Volek said.', ""Sign up to receive future editions of CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.2671963679040812,"An alternative passport makes travel easier for Americans venturing to parts of the world that are less friendly to the U.S.""For American, British, and Israeli citizens suddenly unsure of their welcome abroad, supplementary passports provide vital flexibility,"" according to a Henley report. ""","U.S. business leaders could be targets for ""resentment, hostage-taking, or random terrorism in the chaos of collapsed states or high-risk countries they need to travel to for business purposes,"" according to the report, which says interested parties range from hedge-fund managers who meet with global clients to mining company executives who visit operations sites.",0.6473015944163004,"An estimated 128,000 millionaires are forecast to move to a new country this year, up from 120,000 in 2023 and up from 51,000 in 2013, according to Henley.","China remains the biggest source of millionaire out-migration, losing a net 13,500 millionaires last year.",2024-04-10 -Your ultimate guide to the American Express Membership Rewards program,https://edition.cnn.com/cnn-underscored/travel/american-express-membership-rewards-guide," - Updated - 1:03 PM EDT, Mon April 1, 2024 - ","American Express Membership Rewards® are among the most valuable travel rewards points out there. That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them. - - In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio. - - Having Membership Rewards points gives you options, and that’s always a good thing. If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards. - - You can earn Membership Rewards points in various ways. Some require little effort, while others involve a heavier lift. It’s a good idea to take advantage of all the options out there in order to maximize your earnings. Here’s a look at how to earn Membership Rewards most efficiently. - - The primary way to earn Amex points is through credit cards that earn Membership Rewards. Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points. - - These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card. With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance. Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards. - - Keep in mind, too, that many of these cards carry an annual fee: - - All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored. - - Similarly, American Express offers a suite of business credit cards. - - All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored. - - Keep in mind that several of these cards also carry an annual fee: - - Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses. If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year). - - If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel. Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others. - - When applying for American Express cards, be sure to take note of the application rules. For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days. Before applying for a credit card, it’s important to do your research. - - As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer. One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points. - - Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings. That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases. - - Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger. - - If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends. - - American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card. You can earn up to 20,000 points per successful approval, though the exact bonus varies by card. - - To find out your card’s current referral bonus, head over to the Amex referral site. You’ll see referral bonuses based on your card. Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card. You can also copy the referral link on the page and share that with your friends and family directly. - - Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family. Keep in mind there is a limit to how many friends you can refer in a year. - - Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards. For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel. - - As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection. In general, booking travel through American Express pays off in more ways than one. - - Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers. With Amex Offers, card holders can earn statement credits or bonus points at select retailers. In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making. - - To find and take advantage of Amex Offers, you’ll need to log in to your account. From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page. Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer. From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase. Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make. - - Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards. It’s a great way to earn Membership Rewards points on regular purchases, without much added effort. - - If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards. Simply log into your account and follow these steps: - - After this, rewards get transferred to your Membership Rewards account quarterly. - - Now, for the fun part! Once you’ve earned Membership Rewards points, it’s time to put them to good use. Amex gives you several options to redeem points, but the best option is travel. You can choose between statement credits for travel bookings or transferring them to airline or hotel partners. - - Here’s a closer look at your options and how they work. - - American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners. The best way to redeem Membership Rewards for maximum value is through airline transfers. But keep in mind that not all airline loyalty programs are equal. - - Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points. - - If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate. - - It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels. So, at times, you can get more points in return than the standard transfer rate listed above. Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less. - - By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. - - Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines. - - Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you. But, some redemptions are better than others — particularly when it comes to award sweet spots. - - Some examples of these sweet spot awards using your Amex Membership Rewards points include the following: - - Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners. But that may not always make sense for all card holders — and it’s not your only option. - - If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions. This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards. - - Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value. If you’re looking to maximize the value of your Amex points, this isn’t the best route to take. - - You’ll get slightly more value by redeeming your Membership Rewards for travel bookings. By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings. Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel. - - If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value. However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there. - - Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points. However, that’s not always the case for everyone. You may want to save a few dollars here or there on a purchase you’re making online. Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more. - - When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them. The value you can get ranges from about 0.6 cents each to about 2 cents each. Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece. - - Amex offers 0.6 cents per point in value when you use points for statement credits. Meanwhile, travel bookings will get you a somewhat higher 1 cent per point. The highest value comes from transferring points to airline and hotel partners, as detailed above. Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions. - - American Express Membership Rewards points are some of the most versatile and valuable out there. By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more. Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding. - - Click here for rates and fees of the Amex Platinum card.Click here for rates and fees of the Amex Gold card.Click here for rates and fees of the Amex Business Platinum card.Click here for rates and fees of the Amex Business Gold card.Click here for rates and fees of the Amex Blue Business Plus card. - - Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,01/04/2024,"['American Express Membership Rewards® are among the most valuable travel rewards points out there.', 'That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.', 'In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.', 'Having Membership Rewards points gives you options, and that’s always a good thing.', 'If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.', 'You can earn Membership Rewards points in various ways.', 'Some require little effort, while others involve a heavier lift.', 'It’s a good idea to take advantage of all the options out there in order to maximize your earnings.', 'Here’s a look at how to earn Membership Rewards most efficiently.', 'The primary way to earn Amex points is through credit cards that earn Membership Rewards.', 'Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.', 'These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card.', 'With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.', 'Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.', 'Keep in mind, too, that many of these cards carry an annual fee: All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.', 'Similarly, American Express offers a suite of business credit cards.', 'All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.', 'Keep in mind that several of these cards also carry an annual fee: Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses.', 'If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).', 'If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel.', 'Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.', 'When applying for American Express cards, be sure to take note of the application rules.', 'For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days.', 'Before applying for a credit card, it’s important to do your research.', 'As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer.', 'One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.', 'Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings.', 'That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.', 'If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.', 'American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card.', 'You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.', 'To find out your card’s current referral bonus, head over to the Amex referral site.', 'You’ll see referral bonuses based on your card.', 'Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card.', 'You can also copy the referral link on the page and share that with your friends and family directly.', 'Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family.', 'Keep in mind there is a limit to how many friends you can refer in a year.', 'Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards.', 'For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.', 'As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection.', 'In general, booking travel through American Express pays off in more ways than one.', 'Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers.', 'With Amex Offers, card holders can earn statement credits or bonus points at select retailers.', 'In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.', 'To find and take advantage of Amex Offers, you’ll need to log in to your account.', 'From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page.', 'Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer.', 'From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase.', 'Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.', 'Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards.', 'It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.', 'If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards.', 'Simply log into your account and follow these steps: After this, rewards get transferred to your Membership Rewards account quarterly.', 'Now, for the fun part!', 'Once you’ve earned Membership Rewards points, it’s time to put them to good use.', 'Amex gives you several options to redeem points, but the best option is travel.', 'You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.', 'Here’s a closer look at your options and how they work.', 'American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners.', 'The best way to redeem Membership Rewards for maximum value is through airline transfers.', 'But keep in mind that not all airline loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.', 'It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels.', 'So, at times, you can get more points in return than the standard transfer rate listed above.', 'Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.', 'By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.', 'Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you.', 'But, some redemptions are better than others — particularly when it comes to award sweet spots.', 'Some examples of these sweet spot awards using your Amex Membership Rewards points include the following: Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions.', 'This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.', 'Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value.', 'If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.', 'You’ll get slightly more value by redeeming your Membership Rewards for travel bookings.', 'By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings.', 'Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.', 'If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value.', 'However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.', 'Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points.', 'However, that’s not always the case for everyone.', 'You may want to save a few dollars here or there on a purchase you’re making online.', 'Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.', 'When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them.', 'The value you can get ranges from about 0.6 cents each to about 2 cents each.', 'Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.', 'Amex offers 0.6 cents per point in value when you use points for statement credits.', 'Meanwhile, travel bookings will get you a somewhat higher 1 cent per point.', 'The highest value comes from transferring points to airline and hotel partners, as detailed above.', 'Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.', 'American Express Membership Rewards points are some of the most versatile and valuable out there.', 'By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more.', 'Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.', 'Click here for rates and fees of the Amex Platinum card.', 'Click here for rates and fees of the Amex Gold card.', 'Click here for rates and fees of the Amex Business Platinum card.', 'Click here for rates and fees of the Amex Business Gold card.', 'Click here for rates and fees of the Amex Blue Business Plus card.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.5246481979610982,"If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.",But keep in mind that not all airline loyalty programs are equal.,0.9622429311275482,"With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.",,2024-04-10 -How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html," - Published - 3:00 PM EDT, Wed March 20, 2024 - ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings. - - That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages). - - But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash. - - That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years. - - However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.” - - So, consider the following options when deciding where to park your hard-earned savings. - - The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%. - - By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access. - - Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said. - - While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com. - - As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement. - - Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit. - - You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution. - - As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%. - - If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment. - - To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties. - - As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%. - - Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854. - - “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said. - - If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said. - - For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD. - - But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD. - - If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts. - - Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management. - - But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds. - - Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under. - - Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States. - - Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%. - - If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines. - - And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com. - - When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment. - - What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said. - - That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake. - - Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-04-10 -GM's Cruise to relaunch vehicles with human drivers in Phoenix,https://www.cnbc.com/2024/04/09/gms-cruise-to-relaunch-vehicles-with-human-drivers-in-phoenix.html,2024-04-09T17:38:49+0000,"In this articleGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways Tuesday for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said.The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.The redeployed vehicles will not operate as they previously did — as robotaxis — but will ""create maps and gather road information in select cities, starting in Phoenix,"" the company said.Cruise said its ""goal is to resume driverless operations,"" however it did not provide a timeline for doing so. It also did not announce a timetable for expanding human-driven vehicles to other cities.""We have not yet made a commitment to where or when we will start supervised or driverless operations,"" a spokesperson said in a statement to CNBC.Still, the company called the relaunched fleet with human drivers ""a critical step for validating our self-driving systems as we work towards returning to our driverless mission.""""In October 2023, we paused operations of our fleet to focus on rebuilding trust with regulators and the communities we serve, and to redesign our approach to safety,"" Cruise said in a blog post. ""We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate. We are committed to this improvement as a continuous effort.""A third-party probe into the October incident and subsequent fallout, which was ordered by GM and Cruise, found culture issues, ineptitude and poor leadership were at the center of regulatory oversights that led to the accident. The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims.Cruise said in January that it ""accepts"" the conclusions found in the report. The San Francisco-based company, of which GM owns about 80%, said it will ""act on all"" recommendations and is ""fully cooperating"" with investigations by state and federal agencies following the Oct. 2 accident.The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market where the majority of its vehicles operated.In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted. The venture also laid off 24% of its workforce as well as a round of contractors.",CNBC,09/04/2024,"[""In this articleGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways Tuesday for the first time since October, beginning with a small fleet of human-driven vehicles in Phoenix, the company said."", 'The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.', 'The redeployed vehicles will not operate as they previously did — as robotaxis — but will ""create maps and gather road information in select cities, starting in Phoenix,"" the company said.', 'Cruise said its ""goal is to resume driverless operations,"" however it did not provide a timeline for doing so.', 'It also did not announce a timetable for expanding human-driven vehicles to other cities.', '""We have not yet made a commitment to where or when we will start supervised or driverless operations,"" a spokesperson said in a statement to CNBC.Still, the company called the relaunched fleet with human drivers ""a critical step for validating our self-driving systems as we work towards returning to our driverless mission.', '""""In October 2023, we paused operations of our fleet to focus on rebuilding trust with regulators and the communities we serve, and to redesign our approach to safety,"" Cruise said in a blog post. ""', ""We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate."", 'We are committed to this improvement as a continuous effort.', '""A third-party probe into the October incident and subsequent fallout, which was ordered by GM and Cruise, found culture issues, ineptitude and poor leadership were at the center of regulatory oversightsthat led to the accident.', 'The probe also investigated allegations of a coverup by Cruise leadership, but did not find any evidence to support those claims.', 'Cruise said in January that it ""accepts"" the conclusions found in the report.', 'The San Francisco-based company,of which GM owns about 80%, said it will ""act on all"" recommendations and is ""fully cooperating"" with investigations by state and federal agencies following the Oct. 2 accident.', 'The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.', 'Prior to the accident, Cruise was planning an aggressive expansion of robotaxis outside its home market where the majority of its vehicles operated.', 'In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted.', 'The venture alsolaid off 24% of its workforce as well as a round of contractors.']",0.1384270886543398,"The company said in January that investigations or inquiries into the incident included those by the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice and the Securities and Exchange Commission.",The relaunch comes after the company ceased operations weeks after an Oct. 2 accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle.,0.1824014902114868,"We've made significant progress, guided by new company leadership, recommendations from third-party experts, and a focus on a close partnership with the communities in which our vehicles operate.","In addition to the ceasing of operations, Cruise leadership has been gutted: Its co-founders, including CEO and co-founder Kyle Vogt, resigned and nine other leaders were ousted.",2024-04-10 -"'Mandalorian & Grogu,' 'Toy Story 5,' and another 'Tron' coming to theaters from Disney",https://www.cnbc.com/2024/04/05/disney-slate-mandalorian-grogu-toy-story-5-and-another-tron.html,2024-04-08T22:10:28+0000,"The Walt Disney Company on Friday revealed its new theatrical schedule, which will feature a film about the Mandalorian and Grogu, a fifth ""Toy Story"" film, and another ""Tron"" flick before the end of 2026.The company's theatrical business has struggled in the wake of pandemic shutdowns and dual Hollywood labor strikes, as productions stalled and moviegoers' box-office habits shifted. All the while, Disney struggled to connect with audiences, which further exacerbated revenue woes.Since returning to the helm at Disney in late 2022, CEO Bob Iger has been working to right the ship. He's admitted that the quality of its films suffered in its bid to pump out a high quantity of entertainment content. He said brands such as Marvel, in particular, needed to be more selective about which sequels get made.Iger also said he would no longer tolerate his company's partners and creative team prioritizing messaging over storytelling.Disney's updated slate features several iconic franchises, as well as some releases for adult audiences.Notably, the company's ""Moana"" live-action remake has been pushed to July 2026. It was originally slated to open in 2025.""The Amateur,"" a 20th Century Production starring Oscar winner Rami Malek, moved to April 2025 from its previous November 2024 date. And ""Nightbitch,"" a Searchlight feature with Amy Adams attached, will release in December 2024.Disney teased that one of its 2026 Star Wars films would feature the iconic duo from its Disney+ series ""The Mandalorian"" and revealed its title will be ""The Mandalorian & Grogu."" It is slated for theatrical release on May 22, 2026.A fifth ""Toy Story"" film is set to hit theaters on June 19, 2026, and ""Tron: Ares"" is slated for Oct. 10, 2025.Clarification: This story has been updated to clarify that the ""Moana"" film slated to open in July 2026 is a live-action remake.",CNBC,08/04/2024,"['The Walt Disney Company on Friday revealed its new theatrical schedule, which will feature a film about the Mandalorian and Grogu, a fifth ""Toy Story"" film, and another ""Tron"" flick before the end of 2026.The company\'s theatrical business has struggled in the wake of pandemic shutdowns and dual Hollywood labor strikes, as productions stalled and moviegoers\' box-office habits shifted.', 'All the while, Disney struggled to connect with audiences, which further exacerbated revenue woes.', 'Since returning to the helm at Disney in late 2022, CEO Bob Iger has been working to right the ship.', ""He's admitted that the quality of its films suffered in its bid to pump out a high quantity of entertainment content."", 'He said brands such as Marvel, in particular, needed to be more selective about which sequels get made.', ""Iger also said he would no longer tolerate his company's partners and creative teamprioritizing messaging over storytelling."", ""Disney's updated slate features several iconic franchises, as well as some releases for adult audiences."", 'Notably, the company\'s ""Moana"" live-action remake has been pushed to July 2026.', 'It was originally slated to open in 2025.""The Amateur,"" a 20th Century Production starring Oscar winner Rami Malek, moved to April 2025 from its previous November 2024 date.', 'And ""Nightbitch,"" a Searchlight feature with Amy Adams attached, will release in December 2024.Disney teased that one of its 2026 Star Wars films would feature the iconic duo from its Disney+ series ""The Mandalorian"" and revealed its title will be ""The Mandalorian & Grogu.""', 'It is slated for theatrical release on May 22, 2026.A fifth ""Toy Story"" film is set to hit theaters on June 19, 2026, and ""Tron: Ares"" is slated for Oct. 10, 2025.Clarification: This story has been updated to clarify that the ""Moana"" film slated to open in July 2026 is a live-action remake.']",-0.0528422595632968,"It was originally slated to open in 2025.""The Amateur,"" a 20th Century Production starring Oscar winner Rami Malek, moved to April 2025 from its previous November 2024 date.","And ""Nightbitch,"" a Searchlight feature with Amy Adams attached, will release in December 2024.Disney teased that one of its 2026 Star Wars films would feature the iconic duo from its Disney+ series ""The Mandalorian"" and revealed its title will be ""The Mandalorian & Grogu.""",-0.997926930586497,,"All the while, Disney struggled to connect with audiences, which further exacerbated revenue woes.",2024-04-10 -3G Capital quietly exited its Kraft Heinz investment last year,https://www.cnbc.com/2024/04/09/3g-capital-quietly-exited-its-kraft-heinz-investment-last-year.html,2024-04-09T13:05:13+0000,"In this articleBrazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.The sale marks the end of an era for 3G. The firm's influence over Kraft Heinz had been dwindling in recent years as its number of board seats slipped from three to none by July 2022.""3G has not been involved in the management of Kraft Heinz, nor have they been on the Board for several years. They had continued to be an investor and were treated as we do any investor,"" Kraft Heinz said in a statement to CNBC. ""We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023.""The company added that Buffett's Berkshire Hathaway, its largest shareholder with a 26.8% stake, is a committed long-term owner.3G did not immediately respond to a request for comment from CNBC.Berkshire and 3G's doomed romance began on Valentine's Day in 2013 when the two firms announced they were teaming up to take Heinz private. The merger with Kraft Foods followed two years later.The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.But the packaged food business presented new challenges. Consumers were shifting to eating more fresh food. Plus, retailers' private-label brands and newcomers touting themselves as a healthier option were stealing Big Food's shoppers. Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer.Then a disastrous quarter came for Kraft Heinz in 2019. In a single earnings report, the company slashed its dividend, disclosed a Securities and Exchange Commission investigation into its accounting practices and wrote down its brands by $15 billion.Several months later, Buffett told CNBC that Berkshire and 3G overpaid for Kraft Heinz, buoyed by optimism that its brands were more valuable than they actually were. Still, he stood by both 3G and Kraft Heinz. Other investors blamed 3G's aggressive cost cutting for the company's troubles.To reverse the company's downward spiral, 3G handpicked the food giant's new chief executive, an AB InBev veteran, and Kraft Heinz went into turnaround mode. The company announced plans to ramp up its marketing and advertising spending and shift its strategy for making new products. To reduce its exposure to private-label competition, it also sold its cheese business to Lactalis, a French dairy giant, and its Planters nuts brand to Hormel.In 2021, 3G founding partner Jorge Paulo Lemann stepped down from Kraft Heinz's board. The following year, fellow founding partner Alexandre Behring left the board. And two months after Behring's departure, 3G's final board member, former AB InBev CEO Joao Castro-Neves, also stepped down. Kraft Heinz disclosed his departure in a regulatory filing but no press release — or fanfare — accompanied it.3G had been periodically trimming its stake in Kraft Heinz since 2018. When it sold 25 million shares in 2019, at the height of the company's troubles, the stock fell 4% in response to the disclosure. In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.Last year, Kraft Heinz tapped Carlos Abrams-Rivera as its new chief executive. While he's been with the company since 2020, he's notably the company's first CEO without ties to 3G.",CNBC,09/04/2024,"['In this articleBrazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.', 'The sale marks the end of an era for 3G. The firm\'s influence over Kraft Heinz had been dwindling in recent years as its number of board seats slipped from three to none by July 2022.""3G has not been involved in the management of Kraft Heinz, nor have they been on the Board for several years.', 'They had continued to be an investor and were treated as we do any investor,"" Kraft Heinz said in a statement to CNBC. ""', 'We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023.""The company added that Buffett\'s Berkshire Hathaway, its largest shareholder with a 26.8% stake, is a committed long-term owner.3G did not immediately respond to a request for comment from CNBC.Berkshire and 3G\'s doomed romance began on Valentine\'s Day in 2013 when the two firms announced they were teaming up to take Heinz private.', 'The merger with Kraft Foods followed two years later.', 'The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.', 'But the packaged food business presented new challenges.', 'Consumers were shifting to eating more fresh food.', ""Plus, retailers' private-label brands and newcomers touting themselves as a healthier option were stealing Big Food's shoppers."", 'Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer.', 'Then a disastrous quarter came for Kraft Heinz in 2019.', 'In a single earnings report, the company slashed its dividend, disclosed a Securities and Exchange Commission investigation into its accounting practices and wrote down its brands by $15 billion.', 'Several months later, Buffett told CNBC that Berkshire and 3G overpaid for Kraft Heinz, buoyed by optimism that its brands were more valuable than they actually were.', 'Still, he stood by both 3G and Kraft Heinz.', ""Other investors blamed 3G's aggressive cost cutting for the company's troubles."", ""To reverse the company's downward spiral, 3G handpicked the food giant's new chief executive, an AB InBev veteran, and Kraft Heinz went into turnaround mode."", 'The company announced plans to ramp up its marketing and advertising spending and shift its strategy for making new products.', 'To reduce its exposure to private-label competition, it also sold its cheese business to Lactalis, a French dairy giant, and its Planters nuts brand to Hormel.', ""In 2021, 3G founding partner Jorge Paulo Lemann stepped down from Kraft Heinz's board."", 'The following year, fellow founding partner Alexandre Behring left the board.', ""And two months after Behring's departure, 3G's final board member, former AB InBev CEO Joao Castro-Neves, also stepped down."", 'Kraft Heinz disclosed his departure in a regulatory filing but no press release — or fanfare — accompanied it.3G had been periodically trimming its stake in Kraft Heinz since 2018.', ""When it sold 25 million shares in 2019, at the height of the company's troubles, the stock fell 4% in response to the disclosure."", 'In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.', 'Last year, Kraft Heinz tapped Carlos Abrams-Rivera as its new chief executive.', ""While he's been with the company since 2020, he's notably the company's first CEO without ties to 3G.""]",-0.0180330622793108,"The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.",Other investors blamed 3G's aggressive cost cutting for the company's troubles.,0.1386075570033146,"The new company initially pleased investors with its earnings growth, thanks to its cost-cutting approach favored by 3G. The firm had already found success with that strategy when it created beer giant Anheuser-Busch InBev through a series of megamergers and took Burger King private and revived its sales.",Then a disastrous quarter came for Kraft Heinz in 2019.,2024-04-10 -TSMC wins subsidies to expand US chip manufacturing in Arizona,https://www.bbc.co.uk/news/business-68763232,2024-04-08T15:03:37.000Z,"Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to build a third factory in Arizona, raising its total investment in the United States from $40bn (£32bn) to $65bn (£51bn). The US government has committed $6.6bn in subsidies and $5bn in possible loans to support the plans. The deal is part of an effort to boost semiconductor production in the US. The US is currently highly dependent on Asia, especially Taiwan, for chips. But it has been pushing to expand local supply amid increased tension with China, citing economic and national security risks. In 2022 the country approved more than $50bn in grants to support manufacturing and research for the industry. The Commerce Department has predicted that the investments will expand America's share of production of the most advanced chips from zero to about 20% by 2030. Laurie Locascio, Under Secretary of Commerce for Standards and Technology, said the latest support for TSMC marked an ""inflection point... that would restore our nation's leadership in an industry that is foundational to the US and global digital economy"". TSMC, headquartered in Taiwan with a large presence in China, is the world's largest maker of semiconductors with clients including Apple. It announced its first US factory in 2020. That facility is expected to open next year and TSMC said a second fab at the complex would start making chips by 2028. The third facility, announced on Monday, is expected to open by the end of the decade. The Commerce Department said the deal would create at least 6,000 direct high-tech jobs, 20,000 in the construction of factories, and tens of thousands of indirect jobs. TSMC has already pushed back production timelines, because of a shortage of skilled labour and some questions around US government incentives. The investment comes as US Treasury Secretary Janet Yellen wraps up a visit to China, where she has been trying to ease tensions between the two giants, which have flared over issues such as semiconductors and green technologies. Ms Yellen said she thought the relationship had improved, while continuing to voice concerns about Beijing economic policies that were also a focus under former President Donald Trump. She spoke out against Chinese government support for companies making electric cars, solar panels and other projects, though she stopped short of threatening new tariffs. The US currently imposes steep import duties on electric cars made in China, a tax other places, including Europe and the UK, are debating. Chinese officials said that their companies' success was due to strong supply chains and decried the ""escalation of green protectionist measures by some developed economies"", according to Reuters. Stephen Olson, a former US trade negotiator and senior adjunct fellow at the Pacific Forum, told the BBC that both countries had an interest in ""trying to improve the mood music"" and signalling ""to the rest of the world that the relationship was being managed"". But he said nothing material will have changed as a result of the talks. ""China will continue to believe correctly or incorrectly, that the United States is determined to block its 'peaceful rise', and the United States will continue to believe correctly or incorrectly, that China engages in a host of predatory economic and trade policies, which threaten the rules-based global system,"" he said. ""Those were the perceptions that were entrenched before the meeting started. And when Janet Yellen gets on the plane and flies back to Washington, I'm afraid those perceptions will remain entrenched."" ",BBC,08/04/2024,"['Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to build a third factory in Arizona, raising its total investment in the United States from $40bn (£32bn) to $65bn (£51bn).', 'The US government has committed $6.6bn in subsidies and $5bn in possible loans to support the plans.', 'The deal is part of an effort to boost semiconductor production in the US.', 'The US is currently highly dependent on Asia, especially Taiwan, for chips.', 'But it has been pushing to expand local supply amid increased tension with China, citing economic and national security risks.', 'In 2022 the country approved more than $50bn in grants to support manufacturing and research for the industry.', ""The Commerce Department has predicted that the investments will expand America's share of production of the most advanced chips from zero to about 20% by 2030."", 'Laurie Locascio, Under Secretary of Commerce for Standards and Technology, said the latest support for TSMC marked an ""inflection point... that would restore our nation\'s leadership in an industry that is foundational to the US and global digital economy"".', ""TSMC, headquartered in Taiwan with a large presence in China, is the world's largest maker of semiconductors with clients including Apple."", 'It announced its first US factory in 2020.', 'That facility is expected to open next year and TSMC said a second fab at the complex would start making chips by 2028.', 'The third facility, announced on Monday, is expected to open by the end of the decade.', 'The Commerce Department said the deal would create at least 6,000 direct high-tech jobs, 20,000 in the construction of factories, and tens of thousands of indirect jobs.', 'TSMC has already pushed back production timelines, because of a shortage of skilled labour and some questions around US government incentives.', 'The investment comes as US Treasury Secretary Janet Yellen wraps up a visit to China, where she has been trying to ease tensions between the two giants, which have flared over issues such as semiconductors and green technologies.', 'Ms Yellen said she thought the relationship had improved, while continuing to voice concerns about Beijing economic policies that were also a focus under former President Donald Trump.', 'She spoke out against Chinese government support for companies making electric cars, solar panels and other projects, though she stopped short of threatening new tariffs.', 'The US currently imposes steep import duties on electric cars made in China, a tax other places, including Europe and the UK, are debating.', 'Chinese officials said that their companies\' success was due to strong supply chains and decried the ""escalation of green protectionist measures by some developed economies"", according to Reuters.', 'Stephen Olson, a former US trade negotiator and senior adjunct fellow at the Pacific Forum, told the BBC that both countries had an interest in ""trying to improve the mood music"" and signalling ""to the rest of the world that the relationship was being managed"".', 'But he said nothing material will have changed as a result of the talks. ""', 'China will continue to believe correctly or incorrectly, that the United States is determined to block its \'peaceful rise\', and the United States will continue to believe correctly or incorrectly, that China engages in a host of predatory economic and trade policies, which threaten the rules-based global system,"" he said. ""', 'Those were the perceptions that were entrenched before the meeting started.', 'And when Janet Yellen gets on the plane and flies back to Washington, I\'m afraid those perceptions will remain entrenched.""']",0.3058278687548064,"Chinese officials said that their companies' success was due to strong supply chains and decried the ""escalation of green protectionist measures by some developed economies"", according to Reuters.","She spoke out against Chinese government support for companies making electric cars, solar panels and other projects, though she stopped short of threatening new tariffs.",0.6616085271040598,"Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) has agreed to build a third factory in Arizona, raising its total investment in the United States from $40bn (£32bn) to $65bn (£51bn).","TSMC has already pushed back production timelines, because of a shortage of skilled labour and some questions around US government incentives.",2024-04-10 -Toyota's first new 4Runner SUV in 15 years will offer a hybrid engine,https://www.cnbc.com/2024/04/09/2025-toyota-4runner-new-off-road-suv-will-include-a-hybrid-engine.html,2024-04-10T02:42:40+0000,"In this articleToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs.Aside from its new looks, which are similar to the recently redesigned Toyota Tacoma pickup, the 2025 4Runner will be offered with a hybrid engine for the first time as well as new ""Platinum"" and ""Trailhunter"" high-end trims.""This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family,"" Dave Christ, Toyota group vice president and general manager, said in a release. ""We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon.""Toyota's ""truck family"" is also known as the ""five brothers"": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs. The 4Runner is the last to be redesigned and built on Toyota's global truck platform, which debuted with the Land Cruiser and Tundra in 2021.Toyota said pricing of the 2025 4Runner will be released closer to its on-sale date. Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings. The current 4Runner has been on sale, with some updates, since 2010.Toyota said miles per gallon ratings for the new 4Runner will be released closer to the vehicle arriving in showrooms in the fall. Toyota's other redesigned trucks and SUVs have notably improved fuel economy.Jack Hollis, executive vice president of Toyota Motor North America, last month told CNBC that the company continues to balance out its truck and SUV portfolio, including potential hybrid, plug-in hybrid and all-electric models.""Those brothers, they all have a lot of similarities, and they have a lot of differences,"" he said. ""How do we curb carbon emissions fastest with everyone, everywhere? It's having the right mix between those five products.""The 4Runner's available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque. The vehicle's standard turbocharged 2.4-liter engine produces 278 horsepower and 317 foot-pounds of torque.The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.The new Trailhunter model features additional off-road styling and equipment including rock rails and high strength steel skid plates, while the Platinum model is geared toward more convenience and luxury features.Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan.Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years. A previous version of the article misstated how many years it had been.",CNBC,10/04/2024,"[""In this articleToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs."", 'Aside from its new looks, which are similar to the recently redesigned Toyota Tacoma pickup, the 2025 4Runner will be offered with a hybrid engine for the first time as well as new ""Platinum"" and ""Trailhunter"" high-end trims.', '""This all-new 4Runner has incredible versatility and capability that nicely rounds out our truck family,"" Dave Christ, Toyota group vice president and general manager, said in a release. ""', ""We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon."", '""Toyota\'s ""truck family"" is also known as the ""five brothers"": the Tacoma and Tundra pickup trucks and the 4Runner, Land Cruiser and Sequoia SUVs.', ""The 4Runner is the last to be redesigned and built on Toyota's global truck platform, which debuted with the Land Cruiser and Tundra in 2021.Toyota said pricing of the 2025 4Runner will be released closer to its on-sale date."", 'Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings.', 'The current 4Runner has been on sale, with some updates, since 2010.Toyota said miles per gallon ratings for the new 4Runner will be released closer to the vehicle arriving in showrooms in the fall.', ""Toyota's other redesigned trucks and SUVs have notably improved fuel economy."", 'Jack Hollis, executive vice president of Toyota Motor North America, last month told CNBC that the company continues to balance out its truck and SUV portfolio, including potential hybrid, plug-in hybrid and all-electric models.', '""Those brothers, they all have a lot of similarities, and they have a lot of differences,"" he said. ""', 'How do we curb carbon emissions fastest with everyone, everywhere?', ""It's having the right mix between those five products."", '""The 4Runner\'s available hybrid engine is a turbocharged 2.4-liter engine with a 48-horsepower electric motor integrated into the eight-speed transmission to produce up to 326 horsepower and 465 foot-pounds of torque.', ""The vehicle's standard turbocharged 2.4-liter engine produces 278 horsepower and 317 foot-pounds of torque."", 'The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.', 'The new Trailhunter model features additional off-road styling and equipment including rock rails and high strength steel skid plates, while the Platinum model is geared toward more convenience and luxury features.', ""Production of the 2025 4Runner is taking place at Toyota's Tahara plant in Japan."", 'Correction: The 2025 Toyota 4Runner is the first new version of the vehicles in 15 years.', 'A previous version of the article misstated how many years it had been.']",0.1106137197191722,"We've sold over 3 million 4Runners over the past 40 years, and this sixth-generation model offers a cool new look and incredible features yet retains the rugged style and capability our customers love about this adventure icon.","The 2025 4Runner will be offered in nine models: SR5, TRD Sport, TRD Sport Premium, TRD Off Road, TRD Off Road Premium, Limited, Platinum, TRD Pro, and Trailhunter.",0.3299002846082051,Toyota's other redesigned trucks and SUVs have notably improved fuel economy.,"Starting prices for the 2024 model range from about $41,000 to more than $55,000.While Toyota is known for its fuel-efficient vehicles such as the Prius, its larger ""brother"" SUVs, including the 4Runner, had much worse fuel ratings prior to being updated — at 17 mpg combined or less, according to federal ratings.",2024-04-10 -Fitch downgrades China’s outlook over economic worries,https://edition.cnn.com/2024/04/10/economy/china-fitch-rating-downgrade-intl-hnk/index.html," - Published - 3:43 AM EDT, Wed April 10, 2024 - ","Fitch downgraded its outlook on China’s credit rating on Tuesday, citing increasing risks to its finances as it faces economic challenges. - - Lowering its outlook from stable to negative does not automatically mean the ratings agency will downgrade China’s creditworthiness, but it increases the chances. - - Fitch has kept its rating on Chinese sovereign bonds at A+. - - The revision “reflects increasing risks to China’s public finance outlook as the country contends with more uncertain economic prospects amid a transition away from property-reliant growth to what the government views as a more sustainable growth model,” it said in a statement. - - Fitch believes the general government deficit will rise to 7.1% of gross domestic product in 2024 from 5.8% last year. This year’s deficit is expected to be the highest since 2020, when pandemic related controls began to weigh heavily on public coffers. - - China’s Finance Ministry has expressed “regret” over the revision. - - “We had a lot of in-depth communication with the Fitch Ratings team in the early stage, and the report partly reflected China’s views,” it said in a Wednesday statement. - - It added that the agency’s methodology “fails to effectively and prospectively reflect the positive role of fiscal policy in promoting economic growth.” - - “In the long run, maintaining a moderate deficit and making good use of precious debt funds will help expand domestic demand, support economic growth, and ultimately help maintain good sovereign credit,” it said. - - The fiscal budget deficit ratio for 2024 is set at 3%, according to the statement, which describes it as “overall moderate” and “conducive to stable economic growth.” - - The ministry has targeted 5% for economic growth for this year, which it says is “in line with realistic conditions.” - - “The long-term positive trend of China’s economy has not changed, nor has the Chinese government’s ability and determination to maintain good sovereign credit,” it said. - - In December, rival ratings agency Moody’s downgraded its outlook on China’s credit rating from stable to negative, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector.",CNN,10/04/2024,"['Fitch downgraded its outlook on China’s credit rating on Tuesday, citing increasing risks to its finances as it faces economic challenges.', 'Lowering its outlook from stable to negative does not automatically mean the ratings agency will downgrade China’s creditworthiness, but it increases the chances.', 'Fitch has kept its rating on Chinese sovereign bonds at A+.', 'The revision “reflects increasing risks to China’s public finance outlook as the country contends with more uncertain economic prospects amid a transition away from property-reliant growth to what the government views as a more sustainable growth model,” it said in a statement.', 'Fitch believes the general government deficit will rise to 7.1% of gross domestic product in 2024 from 5.8% last year.', 'This year’s deficit is expected to be the highest since 2020, when pandemic related controls began to weigh heavily on public coffers.', 'China’s Finance Ministry has expressed “regret” over the revision.', '“We had a lot of in-depth communication with the Fitch Ratings team in the early stage, and the report partly reflected China’s views,” it said in a Wednesday statement.', 'It added that the agency’s methodology “fails to effectively and prospectively reflect the positive role of fiscal policy in promoting economic growth.”', '“In the long run, maintaining a moderate deficit and making good use of precious debt funds will help expand domestic demand, support economic growth, and ultimately help maintain good sovereign credit,” it said.', 'The fiscal budget deficit ratio for 2024 is set at 3%, according to the statement, which describes it as “overall moderate” and “conducive to stable economic growth.”', 'The ministry has targeted 5% for economic growth for this year, which it says is “in line with realistic conditions.”', '“The long-term positive trend of China’s economy has not changed, nor has the Chinese government’s ability and determination to maintain good sovereign credit,” it said.', 'In December, rival ratings agency Moody’s downgraded its outlook on China’s credit rating from stable to negative, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector.']",0.1522739449458446,"“In the long run, maintaining a moderate deficit and making good use of precious debt funds will help expand domestic demand, support economic growth, and ultimately help maintain good sovereign credit,” it said.","In December, rival ratings agency Moody’s downgraded its outlook on China’s credit rating from stable to negative, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector.",-0.3233635127544403,"“In the long run, maintaining a moderate deficit and making good use of precious debt funds will help expand domestic demand, support economic growth, and ultimately help maintain good sovereign credit,” it said.","In December, rival ratings agency Moody’s downgraded its outlook on China’s credit rating from stable to negative, citing risks related to “structurally and persistently lower medium-term economic growth” and ongoing troubles in its property sector.",2024-04-10 -India's army of gold refiners face new competition,https://www.bbc.co.uk/news/business-68596195,2024-03-28T23:19:19.000Z,"Refining gold has a long history in the family of Satish Pratap Salunke. Following in the footsteps of his father and grandfather, he and his business collect scrap gold from jewellers, melt it down and sell it back to the jewellers in the form of gold bars. He has two refineries, one in Kochi in the southern state of Kerala and the other in Tiruchirappalli in Tamil Nadu. Relatives have refineries elsewhere in the south of India. ""Every day my refiners on an average melt two to three kilograms of gold,"" he says. Almost every town in India will have at least one small refinery similar to those run by Mr Salunke. It is known as the ""unorganised"" refining sector, which distinguishes it from big refiners who make gold bars and coins from imported, unrefined gold. It is estimated that, in total, Indian households hold a massive 25,000 tonnes of gold, and some of that is always available for sale, particularly when the price of gold is high or the economy is bad and people want to raise some cash. Jewellers may process returned gold themselves but will often use small refiners who will make the gold back into bars. Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. ""Most jewellers prefer buying gold from us, as we are based in every city with small units. A jeweller can take back his refined gold in a few hours, not like big refiners who will take days to refine the recycled gold."" According to the World Gold Council, of the 900 tonnes of gold refined in India in 2023, 117 came from recycled sources. But that recycling market is being eyed up by India's big industrial gold refiners. They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré. Between 2013 and 2021, India's large-scale refiners increased their capacity from 300 to 1,800 tonnes of gold a year. But it is difficult for them to import enough unrefined gold to keep their refineries running. In fact, less than 50% of their refining capacity is used, according to Harshad Ajmera, secretary of the Association of Gold Refiners and Mints. So big refiners have been opening scrap collection centres in big cities, hoping to scoop up unwanted gold and turn it into high-quality bars. ""At present most of the recycling of gold is done by the unorganised sector [small refiners] - that has to change,"" says Mr Ajmera. More technology of business He wants India to become a global hub for gold refining, which would mean importing more unrefined gold and for the big firms to take over more of the gold recycling. ""Switzerland is the world's largest gold refining centre and transit hub. We want India also to be in the same position,"" says Mr Ajmera. CGR Metalloys is one of India's leading gold refiners, refining about 150 tonnes of gold a year. Like the other big players, it has the latest equipment for gold smelting and refining, which it says is better for the environment and can guarantee the purity of its gold to extremely high levels. ""The refined bullion is analysed to the highest levels of accuracy, on various methods of gold assaying,"" says James Jose, managing director at CGR. It has opened three gold recycling centres in the state of Kerala. ""Indian refineries have a huge capacity... we have huge overheads. So setting up collection centres will increase the flow of scrap gold. This will help increase my output by 30% to 40%,"" says Mr Jose. In recent years, the government has become more involved in the refining industry. In 2020 the Bureau of Indian Standards (BIS) introduced a range of standards for gold bars including purity, weight, markings and dimensions. BIS-approved refiners can sell their bars to the commodity markets. ""The industry is gradually shifting towards greater organisation and efficiency, led by established refineries licensed by the Bureau of Indian Standards, which is setting trusted benchmarks for refined gold products, which will make India a global hub,"" says Somasundaram PR, the chief executive of the World Gold Council India. Some figures suggest that smaller refiners are losing ground. According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%. The moves made by big recycling firms do not concern Mr Salunke much - he says he knows his customers. ""Local jewellers are not willing to pay a recycling cost which is too much beyond what we charge,"" he says. And, like other smaller refiners, Mr Salunke has also been investing in modern refining technology. They are moving away from using nitric acid to purify gold, instead switching to Aqua Regia, which is less polluting. ""The gold recycled by us is as pure as gold recycled by an organised refinery,"" says Mr Salunke. ""Now we have a testing facility to check the purity, so it would be wrong to say we cannot refine gold into its purest form."" ",BBC,28/03/2024,"['Refining gold has a long history in the family of Satish Pratap Salunke.', 'Following in the footsteps of his father and grandfather, he and his business collect scrap gold from jewellers, melt it down and sell it back to the jewellers in the form of gold bars.', 'He has two refineries, one in Kochi in the southern state of Kerala and the other in Tiruchirappalli in Tamil Nadu.', 'Relatives have refineries elsewhere in the south of India. ""', 'Every day my refiners on an average melt two to three kilograms of gold,"" he says.', 'Almost every town in India will have at least one small refinery similar to those run by Mr Salunke.', 'It is known as the ""unorganised"" refining sector, which distinguishes it from big refiners who make gold bars and coins from imported, unrefined gold.', 'It is estimated that, in total, Indian households hold a massive 25,000 tonnes of gold, and some of that is always available for sale, particularly when the price of gold is high or the economy is bad and people want to raise some cash.', 'Jewellers may process returned gold themselves but will often use small refiners who will make the gold back into bars.', 'Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. ""', 'Most jewellers prefer buying gold from us, as we are based in every city with small units.', 'A jeweller can take back his refined gold in a few hours, not like big refiners who will take days to refine the recycled gold.""', 'According to the World Gold Council, of the 900 tonnes of gold refined in India in 2023, 117 came from recycled sources.', ""But that recycling market is being eyed up by India's big industrial gold refiners."", 'They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré.', ""Between 2013 and 2021, India's large-scale refiners increased their capacity from 300 to 1,800 tonnes of gold a year."", 'But it is difficult for them to import enough unrefined gold to keep their refineries running.', 'In fact, less than 50% of their refining capacity is used, according to Harshad Ajmera, secretary of the Association of Gold Refiners and Mints.', 'So big refiners have been opening scrap collection centres in big cities, hoping to scoop up unwanted gold and turn it into high-quality bars. ""', 'At present most of the recycling of gold is done by the unorganised sector [small refiners] - that has to change,"" says Mr Ajmera.', 'More technology of business He wants India to become a global hub for gold refining, which would mean importing more unrefined gold and for the big firms to take over more of the gold recycling. ""', ""Switzerland is the world's largest gold refining centre and transit hub."", 'We want India also to be in the same position,"" says Mr Ajmera.', ""CGR Metalloys is one of India's leading gold refiners, refining about 150 tonnes of gold a year."", 'Like the other big players, it has the latest equipment for gold smelting and refining, which it says is better for the environment and can guarantee the purity of its gold to extremely high levels. ""', 'The refined bullion is analysed to the highest levels of accuracy, on various methods of gold assaying,"" says James Jose, managing director at CGR.', 'It has opened three gold recycling centres in the state of Kerala. ""', 'Indian refineries have a huge capacity... we have huge overheads.', 'So setting up collection centres will increase the flow of scrap gold.', 'This will help increase my output by 30% to 40%,"" says Mr Jose.', 'In recent years, the government has become more involved in the refining industry.', 'In 2020 the Bureau of Indian Standards (BIS) introduced a range of standards for gold bars including purity, weight, markings and dimensions.', 'BIS-approved refiners can sell their bars to the commodity markets. ""', 'The industry is gradually shifting towards greater organisation and efficiency, led by established refineries licensed by the Bureau of Indian Standards, which is setting trusted benchmarks for refined gold products, which will make India a global hub,"" says Somasundaram PR, the chief executive of the World Gold Council India.', 'Some figures suggest that smaller refiners are losing ground.', 'According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%.', 'The moves made by big recycling firms do not concern Mr Salunke much - he says he knows his customers. ""', 'Local jewellers are not willing to pay a recycling cost which is too much beyond what we charge,"" he says.', 'And, like other smaller refiners, Mr Salunke has also been investing in modern refining technology.', 'They are moving away from using nitric acid to purify gold, instead switching to Aqua Regia, which is less polluting. ""', 'The gold recycled by us is as pure as gold recycled by an organised refinery,"" says Mr Salunke. ""', 'Now we have a testing facility to check the purity, so it would be wrong to say we cannot refine gold into its purest form.""']",0.0799652359830087,"Mr Salunke says local jewellers like to deal with small refiners like his, because they work quickly and are happy to accept cash. """,But it is difficult for them to import enough unrefined gold to keep their refineries running.,0.5293744140201144,"They have expanded in recent years, spurred on by favourable import duties on their main source of gold - imported, unrefined gold known as gold doré.","According to consultancy Metals Focus, in 2015 between 70 and 75% of the recycling industry was unorganised; by 2021 this had declined to between 60 and 65%.",2024-04-10 -"Macy's settles proxy fight with activist Arkhouse, adds two of the firm's nominees as directors",https://www.cnbc.com/2024/04/10/macys-settles-proxy-fight-with-activist-arkhouse-adds-two-directors.html,2024-04-10T18:59:22+0000,"In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board.Ric Clark and Rick Markee will join Macy's board effective immediately. They'll be part of the committee that's in charge of overseeing and evaluating Arkhouse's bid to take the department store private and making recommendations to the board on its acquisition proposal. ""The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously,"" Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane said. ""We appreciate the Board's engagement and look forward to working with them to unlock shareholder value.""Clark has spent nearly 40 years in the real estate industry and previously served as chairman and CEO of Brookfield Property Group, Brookfield Property Partners and Brookfield Office Properties. Markee brings retail chops to Macy's board: He previously served as the CEO of Vitamin Shoppe and currently sits on the board of discount retailer Five Below.Macy's shares fell slightly in intraday trading Wednesday.The reshuffle comes as Arkhouse makes strides in its efforts to take the 165-year-old department store private, a deal that Macy's had previously resisted. The department store has provided the Arkhouse-led investor group with confidential business information as the two sides continue to negotiate the terms of a possible sale. ""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders,"" Macy's said in a statement. Arkhouse first submitted an offer to take the retailer private in 2023. The investor, which is working in concert with Brigade Management, has since increased its offer multiple times. The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.The storied retailer has struggled to hold on to its market share as it faces increased competition from retailers like TJX Companies, the owner of TJ Maxx, and Target. Department stores have had to work harder to differentiate themselves and entice customers as brands move away from wholesalers and work to drive sales through their own website and stores. Macy's said in February that it would close around 150 of its roughly 500 stores, just weeks after CEO Tony Spring stepped into the top job, and has laid off thousands of workers in recent years. Macy's has attracted activist attention before. Starboard Value, a well-established investor in the space, took a position in the retailer in 2015, only to sell it off two years later after a potential acquisition fizzled.Arkhouse's bid differs from past engagements at the company. The real estate investor seeks to take the company private, remove it from the rigors of the public market and monetize its real estate assets. During a meeting with JPMorgan retail analysts, Arkhouse said it views Macy's as a ""real estate company with an Adjacent Retail Business"" because it thinks the department store's owned real estate is worth more than the current enterprise value of the company, according to a March research note. ""The key distinction stated in Arkhouse's thesis is to run the organization as a real estate operator with a focus on improving the fundamental creditworthiness of Macy's as a tenant driven by EBITDA dollar growth as a private company,"" the research note stated. ""To be clear, Arkhouse does not believe in selling Macy's real estate assets in short order, but intends to own the assets and monetize on the real estate via financing (not outright asset sales) to provide cash for shareholder returns or for business reinvestments.""In a subsequent meeting with Macy's brass, CEO Tony Spring disagreed with Arkhouse's view. ""We do not believe we are a real estate company first and that all decisions should be looked at through the prism of real estate,"" Spring said, according to a JPMorgan research note. The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.",CNBC,10/04/2024,"[""In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board."", ""Ric Clark and Rick Markee will join Macy's board effective immediately."", ""They'll be part of the committee that's in charge of overseeing and evaluating Arkhouse's bid to take the department store private and making recommendations to the board on its acquisition proposal."", '""The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously,"" Arkhouse managing partners Jonathon Blackwell and Gavriel Kahane said. ""', ""We appreciate the Board's engagement and look forward to working with them to unlock shareholder value."", '""Clark has spent nearly 40 years in the real estate industry and previously served as chairman and CEO of Brookfield Property Group, Brookfield Property Partners and Brookfield Office Properties.', ""Markee brings retail chops to Macy's board: He previously served as the CEO of Vitamin Shoppe and currently sits on the board of discount retailer Five Below."", ""Macy's shares fell slightly in intraday trading Wednesday."", ""The reshuffle comes as Arkhouse makes strides in its efforts to take the 165-year-old department store private, a deal that Macy's had previously resisted."", 'The department store has provided the Arkhouse-led investor group with confidential business information as the two sides continue to negotiate the terms of a possible sale.', '""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy\'s, Inc. shareholders,"" Macy\'s said in a statement.', 'Arkhouse first submitted an offer to take the retailer private in 2023.', 'The investor, which is working in concert with Brigade Management, has since increased its offer multiple times.', 'The investment-firm-turned-activist then launched a proxy fight at the company in February, putting up a nine-director slate.', 'The storied retailer has struggled to hold on to its market share as it faces increased competition from retailers like TJX Companies, the owner of TJ Maxx, and Target.', 'Department stores have had to work harder to differentiate themselves and entice customers as brands move away from wholesalers and work to drive sales through their own website and stores.', ""Macy's said in February that it would close around 150 of its roughly 500 stores, just weeks after CEO Tony Spring stepped into the top job, and has laid off thousands of workers in recent years."", ""Macy's has attracted activist attention before."", 'Starboard Value, a well-established investor in the space, took a position in the retailer in 2015, only to sell it off two years later after a potential acquisition fizzled.', ""Arkhouse's bid differs from past engagements at the company."", 'The real estate investor seeks to take the company private, remove it from the rigors of the public market and monetize its real estate assets.', 'During a meeting with JPMorgan retail analysts, Arkhouse said it views Macy\'s as a ""real estate company with an Adjacent Retail Business"" because it thinks the department store\'s owned real estate is worth more than the current enterprise value of the company, according to a March research note.', '""The key distinction stated in Arkhouse\'s thesis is to run the organization as a real estate operator with a focus on improving the fundamental creditworthiness of Macy\'s as a tenant driven by EBITDA dollar growth as a private company,"" the research note stated.', '""To be clear, Arkhouse does not believe in selling Macy\'s real estate assets in short order, but intends to own the assets and monetize on the real estate via financing (not outright asset sales) to provide cash for shareholder returns or for business reinvestments.', '""In a subsequent meeting with Macy\'s brass, CEO Tony Spring disagreed with Arkhouse\'s view.', '""We do not believe we are a real estate company first and that all decisions should be looked at through the prism of real estate,"" Spring said, according to a JPMorgan research note.', ""The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.""]",0.245258692028108,"""The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders,"" Macy's said in a statement.","In this articleMacy's on Wednesday said it settled its proxy fight with real estate investor Arkhouse, appointing two of the firm's nominees to its 15-person board.",0.3982523571361195,"The company believes its current turnaround plan will accelerate same-store sales growth and overtime, get the Macy's store fleet into a healthier position for long-term growth.",Macy's shares fell slightly in intraday trading Wednesday.,2024-04-10 -Boeing orders bounce back on demand for a plane it can’t deliver yet,https://edition.cnn.com/2024/04/09/business/boeing-orders-deliveries/index.html," - Updated - 10:42 PM EDT, Tue April 9, 2024 - ","Boeing’s commercial jet orders bounced back in March, but it was due to a large order from American Airlines for a plane the Federal Aviation Administration hasn’t even approved to carry passengers yet. - - American placed orders for 85 of the Boeing 737 Max 10, the largest version of that troubled aircraft. It also converted previous orders for 30 of the shorter Max 8 version of the plane, which is currently flying, into additional Max 10 orders. American also has options to buy another 75 Max 10s in the future. - - The order had been announced a month ago, and it was included in the March and first quarter sales and delivery report by Boeing on Tuesday. That report showed no other orders for any version of the 737 Max. Besides American’s large Max order, Boeing also received orders for 28 of its widebody 777 jets during the month. - - But certification of the Max 10, which had been due to start flying passengers by this year, has been pushed back in the wake of the January 5 Alaska Airlines flight of a 737 Max 9, which had a door plug blow out, leaving a gaping hole in the side of the plane. - - Questions about anti-icing equipment on the Max engines would have required Boeing to get a waiver from the FAA to get the Max 10 and a smaller Max 7 model certified. But criticism of Boeing’s safety and the quality controls in the wake of the Alaska Air incident prompted Boeing to withdrawal its request for a waiver, thus bringing the certification process to a temporary halt. - - The door plug incident prompted United Airlines CEO Scott Kirby to announce it was no longer counting on the 737 Max 10 planes it had already ordered from Boeing, saying the problem was the “straw that broke the camel’s back” for the airline’s expectations for the plane. While it has yet to drop its orders for the Max 10, Kirby has said the airline is interested in possibly buying competing planes from Boeing rival Airbus. But it would likely be a much longer wait for United to get planes from Airbus due the backlog of orders the European aircraft maker has. - - Boeing had had a record month for commercial jet orders in December ahead of the Alaska Air incident, capping a strong year for sales overall. But its orders ground to a near halt in January after the January 5 flight, causing it to suffer its worst month for orders since the pandemic. While it bounced back to report 15 orders in February, that was far below Boeing’s normal monthly volume. - - Thus, the order from American, which has its mainline fleet roughly split between Airbus and Boeing, was an important vote of confidence for the trouble aircraft maker. Orders for planes before certification are not unusual in the aerospace industry but not typically when there are questions about when the plane might be cleared to carry passengers. - - Boeing also reported it delivered only 24 of the 737 Max jets in the month, and five 787 Dreamliners. Its production of planes has been slowed by the questions about its quality controls since the Alaska Air incident as well, and the lack of deliveries has caused problems for some of its airline customers, including United Airlines, which has put a freeze on pilot hiring and asked some pilots to take voluntary unpaid leave. - - Southwest Airlines also reduced hiring plans, saying it will bring on 50% fewer pilots and 60% fewer flight attendants than planned this year due to Boeing cutting 737 Max deliveries to the airline by about 40%.",CNN,09/04/2024,"['Boeing’s commercial jet orders bounced back in March, but it was due to a large order from American Airlines for a plane the Federal Aviation Administration hasn’t even approved to carry passengers yet.', 'American placed orders for 85 of the Boeing 737 Max 10, the largest version of that troubled aircraft.', 'It also converted previous orders for 30 of the shorter Max 8 version of the plane, which is currently flying, into additional Max 10 orders.', 'American also has options to buy another 75 Max 10s in the future.', 'The order had been announced a month ago, and it was included in the March and first quarter sales and delivery report by Boeing on Tuesday.', 'That report showed no other orders for any version of the 737 Max.', 'Besides American’s large Max order, Boeing also received orders for 28 of its widebody 777 jets during the month.', 'But certification of the Max 10, which had been due to start flying passengers by this year, has been pushed back in the wake of the January 5 Alaska Airlines flight of a 737 Max 9, which had a door plug blow out, leaving a gaping hole in the side of the plane.', 'Questions about anti-icing equipment on the Max engines would have required Boeing to get a waiver from the FAA to get the Max 10 and a smaller Max 7 model certified.', 'But criticism of Boeing’s safety and the quality controls in the wake of the Alaska Air incident prompted Boeing to withdrawal its request for a waiver, thus bringing the certification process to a temporary halt.', 'The door plug incident prompted United Airlines CEO Scott Kirby to announce it was no longer counting on the 737 Max 10 planes it had already ordered from Boeing, saying the problem was the “straw that broke the camel’s back” for the airline’s expectations for the plane.', 'While it has yet to drop its orders for the Max 10, Kirby has said the airline is interested in possibly buying competing planes from Boeing rival Airbus.', 'But it would likely be a much longer wait for United to get planes from Airbus due the backlog of orders the European aircraft maker has.', 'Boeing had had a record month for commercial jet orders in December ahead of the Alaska Air incident, capping a strong year for sales overall.', 'But its orders ground to a near halt in January after the January 5 flight, causing it to suffer its worst month for orders since the pandemic.', 'While it bounced back to report 15 orders in February, that was far below Boeing’s normal monthly volume.', 'Thus, the order from American, which has its mainline fleet roughly split between Airbus and Boeing, was an important vote of confidence for the trouble aircraft maker.', 'Orders for planes before certification are not unusual in the aerospace industry but not typically when there are questions about when the plane might be cleared to carry passengers.', 'Boeing also reported it delivered only 24 of the 737 Max jets in the month, and five 787 Dreamliners.', 'Its production of planes has been slowed by the questions about its quality controls since the Alaska Air incident as well, and the lack of deliveries has caused problems for some of its airline customers, including United Airlines, which has put a freeze on pilot hiring and asked some pilots to take voluntary unpaid leave.', 'Southwest Airlines also reduced hiring plans, saying it will bring on 50% fewer pilots and 60% fewer flight attendants than planned this year due to Boeing cutting 737 Max deliveries to the airline by about 40%.']",-0.020658569030878,"Boeing’s commercial jet orders bounced back in March, but it was due to a large order from American Airlines for a plane the Federal Aviation Administration hasn’t even approved to carry passengers yet.","But its orders ground to a near halt in January after the January 5 flight, causing it to suffer its worst month for orders since the pandemic.",-0.1791717658440272,"Boeing had had a record month for commercial jet orders in December ahead of the Alaska Air incident, capping a strong year for sales overall.","But its orders ground to a near halt in January after the January 5 flight, causing it to suffer its worst month for orders since the pandemic.",2024-04-10 -"Spirit Airlines will defer Airbus orders, furlough 260 pilots in race to shore up liquidity",https://www.cnbc.com/2024/04/08/spirit-airlines-will-defer-airbus-orders-furlough-260-pilots.html,2024-04-08T21:15:00+0000,"In this articleSpirit Airlines said Monday that it will defer deliveries of new Airbus planes and that it plans to furlough about 260 pilots as it tries to boost liquidity.""Of course, these steps aren't ones we want to take but they're necessary to ensure a strong and profitable future for Spirit,"" CEO Ted Christie said in a note to staff Monday.Spirit said it will defer all Airbus planes it has on order that were scheduled to be delivered from the second quarter of 2025 through the end of 2026. It will instead take delivery of them in 2030 and 2031. The deferrals do not include the direct-lease planes — one apiece in the second and third quarter of next year — nor scheduled deliveries for 2027 through 2029, Spirit said.The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years.""Deferring these aircraft gives us the opportunity to reset the business and focus on the core airline while we adjust to changes in the competitive environment,"" Christie said in a news release.Miramar, Florida-based Spirit has been looking for ways to boost liquidity and convince investors that it is on track to do so as it struggles with the the grounding of many of its Airbus planes because of a Pratt & Whitney engine recall. Its planned acquisition by JetBlue Airways fell apart earlier this year after a federal judge ruled in January that the deal would be anti-competitive.The airline said March 29 that it will receive monthly payments in compensation for the grounded Pratt & Whitney engines through the end of 2024, which would lift liquidity between $150 million and $200 million.The pilot furloughs would take effect in September, Spirit said Monday. The airline already had leaves of absence in place for flight attendants and there is ""no plan"" for cabin crew furloughs, their union, the Association of Flight Attendants told members Monday. Spirit is closing its Atlantic City, New Jersey, crew base and staff will be reassigned.Spirit's Airbus delivery slots are likely to be in high demand. Airlines have adjusted their hiring and training in recent weeks, citing a scarcity of aircraft — a sharp change from the pilot shortage that worsened when travel demand snapped back after the worst of the pandemic.United Airlines pilots' union last month said the company is offering unpaid time off for pilots next month because of late-arriving planes from Boeing. The carrier said it was also removing Boeing's Max 10 jets from its fleet plan because it was unclear when regulators would certify the planes. United declined to comment on whether it will take Spirit's Airbus delivery slots.An Airbus spokeswoman said the slots could be remarketed, but she declined to comment on ""any conversations we may or may not be having with various customers.""The Air Line Pilots Association, Spirit pilots' union, said Monday it is exploring voluntary measures that could limit the number of pilot furloughs.""Coupled with the retirement of our A319 fleet and the ongoing Pratt & Whitney GTF engine issue, the airline finds itself with more pilots than its operations require,"" Ryan Muller, chairman of the Spirit ALPA chapter, said in an emailed statement. ""The ramifications of the Company's announced decision are deeply troubling for our entire pilot group.""Spirit said in the filing that it plans to publish its next financial outlook for the quarter and full year within the next week. It is scheduled to report first-quarter results before the market opens on May 6.",CNBC,08/04/2024,"['In this articleSpirit Airlines said Monday that it will defer deliveries of new Airbus planes and that it plans to furlough about 260 pilots as it tries to boost liquidity.', '""Of course, these steps aren\'t ones we want to take but they\'re necessary to ensure a strong and profitable future for Spirit,"" CEO Ted Christie said in a note to staff Monday.', 'Spirit said it will defer all Airbus planes it has on order that were scheduled to be delivered from the second quarter of 2025 through the end of 2026.', 'It will instead take delivery of them in 2030 and 2031.', 'The deferrals do not include the direct-lease planes — one apiece in the second and third quarter of next year — nor scheduled deliveries for 2027 through 2029, Spirit said.', 'The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years.', '""Deferring these aircraft gives us the opportunity to reset the business and focus on the core airline while we adjust to changes in the competitive environment,"" Christie said in a news release.', 'Miramar, Florida-based Spirit has been looking for ways to boost liquidity and convince investors that it is on track to do so as it struggles with the the grounding of many of its Airbus planes because of a Pratt & Whitney engine recall.', 'Its planned acquisition by JetBlue Airways fell apart earlier this year after a federal judge ruled in January that the deal would be anti-competitive.', 'The airline said March 29 that it will receive monthly payments in compensation for the grounded Pratt & Whitney engines through the end of 2024, which would lift liquidity between $150 million and $200 million.', 'The pilot furloughs would take effect in September, Spirit said Monday.', 'The airline already had leaves of absence in place for flight attendants and there is ""no plan"" for cabin crew furloughs, their union, the Association of Flight Attendants told members Monday.', 'Spirit is closing its Atlantic City, New Jersey, crew base and staff will be reassigned.', ""Spirit's Airbus delivery slots are likely to be in high demand."", 'Airlines have adjusted their hiring and training in recent weeks, citing a scarcity of aircraft — a sharp change from the pilot shortage that worsened when travel demand snapped back after the worst of the pandemic.', ""United Airlines pilots' union last month said the company is offering unpaid time off for pilots next month because of late-arriving planes from Boeing."", ""The carrier said it was also removing Boeing's Max 10 jets from its fleet plan because it was unclear when regulators would certify the planes."", ""United declined to comment on whether it will take Spirit's Airbus delivery slots."", 'An Airbus spokeswoman said the slots could be remarketed, but she declined to comment on ""any conversations we may or may not be having with various customers.', '""The Air Line Pilots Association, Spirit pilots\' union, said Monday it is exploring voluntary measures that could limit the number of pilot furloughs.', '""Coupled with the retirement of our A319 fleet and the ongoing Pratt & Whitney GTF engine issue, the airline finds itself with more pilots than its operations require,"" Ryan Muller, chairman of the Spirit ALPA chapter, said in an emailed statement. ""', ""The ramifications of the Company's announced decision are deeply troubling for our entire pilot group."", '""Spirit said in the filing that it plans to publish its next financial outlook for the quarter and full year within the next week.', 'It is scheduled to report first-quarter results before the market opens on May 6.']",0.089810687267966,"""Of course, these steps aren't ones we want to take but they're necessary to ensure a strong and profitable future for Spirit,"" CEO Ted Christie said in a note to staff Monday.","Airlines have adjusted their hiring and training in recent weeks, citing a scarcity of aircraft — a sharp change from the pilot shortage that worsened when travel demand snapped back after the worst of the pandemic.",0.0585053920745849,The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years.,Its planned acquisition by JetBlue Airways fell apart earlier this year after a federal judge ruled in January that the deal would be anti-competitive.,2024-04-10 -Alan Bates says Post Office was run by 'thugs in suits',https://www.bbc.co.uk/news/business-68769090,2024-04-09T11:48:54.000Z,"Former sub-postmaster and campaigner Alan Bates has said the Post Office was being run by ""little more than thugs in suits"" in 2010. In a strongly worded witness statement to the public inquiry into the Horizon IT scandal, he accused the Post Office of lying about the accounting system. He also said the organisation had spent 23 years trying to ""discredit and silence"" him. The Post Office apologised for hurt caused by the scandal. It also said it regretted not disclosing documents to the inquiry ""as early as all parties would have liked"". Between 1999 and 2015, hundreds of sub-postmasters were wrongly prosecuted by the Post Office due to the faulty Horizon software, which showed errors that did not exist. Some lost their jobs, businesses and homes. Many were left financially ruined. Others were convicted and sent to prison and some died while waiting for justice. Mr Bates has been campaigning on behalf of sub-postmasters for decades and was recently catapulted into the national spotlight by an ITV drama about the scandal, Mr Bates vs The Post Office. On Tuesday, the public inquiry resumed and Mr Bates was the first person to provide evidence ahead of more key witnesses appearing over the next 15 weeks. In response to a letter from former postal affairs minister Sir Ed Davey in 2010, Mr Bates wrote back: ""It's not that you can't get involved or cannot investigate the matter, after all you do own 100% of the shares and normally shareholders are concerned about the morality of the business they own. ""It is because you have adopted an arm's length relationship that you have allowed a once great institution to be asset stripped by little more than thugs in suits, and you have enabled them to carry on with impunity regardless of the human misery and suffering they inflict."" Responding to Mr Bates's statement, the Liberal Democrats said: ""As Alan Bates told the inquiry, the bulk of the blame lies with officials. ""Ed was the first minister to meet with Mr Bates and hear his concerns. ""He put those concerns to the Post Office, but their officials lied to him as they did to so many people."" Mr Bates told reporters after the hearing had ended on Tuesday that it had been an ""an interesting day"", adding he wanted the original group of sub-postmasters to ""get their money"". He joked that once the whole process was over, he planned to ""buy a little post office and put his feet up"". In Mr Bates's witness statement, the former sub-postmaster said he had ""spent the last 23 years campaigning to expose the truth, and justice"". He also told the inquiry that before he was sacked he had repeatedly raised concerns about Horizon, including in a letter he had sent in December 2000, two months after the system had been installed in his post office branch in Craig-y-Don in Llandudno. When Horizon was first installed he had been ""quite positive"" about it, having had experience with retailing and accounting software since 1986. However, he soon found ""frustrating"" problems with it, including a lack of transparency over transaction data. He refused to accept that shortfalls in his accounts were his responsibility to make good, maintaining that it was the software that was faulty. When his employment was terminated in November 2003, he was ""annoyed"" with that ""to put it mildly"". But he added that his sacking was ""partly expected, in a way, because it was pretty obvious [the Post Office] were after me one way or another"" after he repeatedly raised concerns about Horizon. The inquiry was shown slides from an undated presentation prepared by Dave Smith, a former Post Office manager, which said Mr Bates ""had discrepancies"" but was ""dismissed because he became unmanageable"". ""Clearly struggled with accounting, and despite copious support, did not follow instructions,"" the presentation said. When asked by lead counsel to the inquiry Jason Beer KC if it was ever explained to him that he became ""unmanageable"", he smiled and said: ""No, not at all."" He also denied having ever struggled with accounting, or being given ""copious"" support. Over more than two years he and his staff made 507 calls to the Post Office helpline, 85 of which related to Horizon. He said the helpline was not much help. ""Stating the bleeding obvious is one description I might use. It was all things that I'd tried."" In a surprise appearance on Wednesday, Post Office chief executive Nick Read was present in the inquiry room. Speaking to the BBC, Mr Read admitted financial redress for sub-postmasters had been ""slow"". While he did not want to go into the specifics of Mr Bates's case and why his claim had not yet been settled, he said he wanted to ""demonstrate [his] support"" for sub-postmasters and for Mr Bates. A Post Office spokesperson said: ""Post Office is deeply sorry for the hurt and suffering that has been caused to victims and their loved ones, and we are committed to ensuring that they receive the justice and redress that they so deserve."" Following criticism of its document disclosure by Mr Beer, the Post Office said it had disclosed the ""vast majority"" of documents needed for the next round of hearings in a timely way. But it said it regretted that ""a very small proportion of documents were not disclosed as early as all parties would have liked"". ",BBC,09/04/2024,"['Former sub-postmaster and campaigner Alan Bates has said the Post Office was being run by ""little more than thugs in suits"" in 2010.', 'In a strongly worded witness statement to the public inquiry into the Horizon IT scandal, he accused the Post Office of lying about the accounting system.', 'He also said the organisation had spent 23 years trying to ""discredit and silence"" him.', 'The Post Office apologised for hurt caused by the scandal.', 'It also said it regretted not disclosing documents to the inquiry ""as early as all parties would have liked"".', 'Between 1999 and 2015, hundreds of sub-postmasters were wrongly prosecuted by the Post Office due to the faulty Horizon software, which showed errors that did not exist.', 'Some lost their jobs, businesses and homes.', 'Many were left financially ruined.', 'Others were convicted and sent to prison and some died while waiting for justice.', 'Mr Bates has been campaigning on behalf of sub-postmasters for decades and was recently catapulted into the national spotlight by an ITV drama about the scandal, Mr Bates vs The Post Office.', 'On Tuesday, the public inquiry resumed and Mr Bates was the first person to provide evidence ahead of more key witnesses appearing over the next 15 weeks.', 'In response to a letter from former postal affairs minister Sir Ed Davey in 2010, Mr Bates wrote back: ""It\'s not that you can\'t get involved or cannot investigate the matter, after all you do own 100% of the shares and normally shareholders are concerned about the morality of the business they own. ""', 'It is because you have adopted an arm\'s length relationship that you have allowed a once great institution to be asset stripped by little more than thugs in suits, and you have enabled them to carry on with impunity regardless of the human misery and suffering they inflict.""', 'Responding to Mr Bates\'s statement, the Liberal Democrats said: ""As Alan Bates told the inquiry, the bulk of the blame lies with officials. ""', 'Ed was the first minister to meet with Mr Bates and hear his concerns. ""', 'He put those concerns to the Post Office, but their officials lied to him as they did to so many people.""', 'Mr Bates told reporters after the hearing had ended on Tuesday that it had been an ""an interesting day"", adding he wanted the original group of sub-postmasters to ""get their money"".', 'He joked that once the whole process was over, he planned to ""buy a little post office and put his feet up"".', 'In Mr Bates\'s witness statement, the former sub-postmaster said he had ""spent the last 23 years campaigning to expose the truth, and justice"".', 'He also told the inquiry that before he was sacked he had repeatedly raised concerns about Horizon, including in a letter he had sent in December 2000, two months after the system had been installed in his post office branch in Craig-y-Don in Llandudno.', 'When Horizon was first installed he had been ""quite positive"" about it, having had experience with retailing and accounting software since 1986.', 'However, he soon found ""frustrating"" problems with it, including a lack of transparency over transaction data.', 'He refused to accept that shortfalls in his accounts were his responsibility to make good, maintaining that it was the software that was faulty.', 'When his employment was terminated in November 2003, he was ""annoyed"" with that ""to put it mildly"".', 'But he added that his sacking was ""partly expected, in a way, because it was pretty obvious [the Post Office] were after me one way or another"" after he repeatedly raised concerns about Horizon.', 'The inquiry was shown slides from an undated presentation prepared by Dave Smith, a former Post Office manager, which said Mr Bates ""had discrepancies"" but was ""dismissed because he became unmanageable"". ""', 'Clearly struggled with accounting, and despite copious support, did not follow instructions,"" the presentation said.', 'When asked by lead counsel to the inquiry Jason Beer KC if it was ever explained to him that he became ""unmanageable"", he smiled and said: ""No, not at all.""', 'He also denied having ever struggled with accounting, or being given ""copious"" support.', 'Over more than two years he and his staff made 507 calls to the Post Office helpline, 85 of which related to Horizon.', 'He said the helpline was not much help. ""', 'Stating the bleeding obvious is one description I might use.', 'It was all things that I\'d tried.""', 'In a surprise appearance on Wednesday, Post Office chief executive Nick Read was present in the inquiry room.', 'Speaking to the BBC, Mr Read admitted financial redress for sub-postmasters had been ""slow"".', 'While he did not want to go into the specifics of Mr Bates\'s case and why his claim had not yet been settled, he said he wanted to ""demonstrate [his] support"" for sub-postmasters and for Mr Bates.', 'A Post Office spokesperson said: ""Post Office is deeply sorry for the hurt and suffering that has been caused to victims and their loved ones, and we are committed to ensuring that they receive the justice and redress that they so deserve.""', 'Following criticism of its document disclosure by Mr Beer, the Post Office said it had disclosed the ""vast majority"" of documents needed for the next round of hearings in a timely way.', 'But it said it regretted that ""a very small proportion of documents were not disclosed as early as all parties would have liked"".']",-0.0494374138414349,"But he added that his sacking was ""partly expected, in a way, because it was pretty obvious [the Post Office] were after me one way or another"" after he repeatedly raised concerns about Horizon.","However, he soon found ""frustrating"" problems with it, including a lack of transparency over transaction data.",-0.3753935032420688,"When Horizon was first installed he had been ""quite positive"" about it, having had experience with retailing and accounting software since 1986.","However, he soon found ""frustrating"" problems with it, including a lack of transparency over transaction data.",2024-04-10 -"Ex-Post Office boss Paula Vennells accused of false statement, inquiry hears",https://www.bbc.co.uk/news/business-68779080,2024-04-10T13:22:53.000Z,"Former Post Office boss Paula Vennells has been accused of previously making a ""false statement"" about the outcomes of sub-postmasters' court cases. The inquiry into the Horizon IT scandal heard Ms Vennells wrote to a government minister in 2012: ""In every instance, the court has found in our favour."" Counsel to the inquiry Jason Beer KC said: ""It's just not true."" Ms Vennells has been asked to comment and previously said she was co-operating with the inquiry. She is due to give evidence to the inquiry in May. On Wednesday, the inquiry was taking evidence from Lord Arbuthnot, a long-time campaigner for the sub-postmasters. He first got involved with their cases in 2009, when he met former sub-postmaster Jo Hamilton at a constituency coffee morning. Since then, he has continued to speak out on behalf of victims and sits on the Horizon Compensation Advisory Board, which advises the government financial redress for those affected. The inquiry heard that in a 2012 letter to MP Oliver Letwin, Ms Vennells wrote: ""In some cases, which are fortunately very few and far between, we have had to prosecute sub-postmasters for theft or false accounting and provide evidence which substantiates our legal position. ""In every instance, the court has found in our favour."" Counsel to the inquiry Jason Beer KC said: ""Now, that's a false statement there, that in every instance the courts have found in our favour. It's just not true."" He asked Lord Arbuthnot if he would have known at the time that it may have been a false statement, to which he replied: ""No, I wouldn't."" Lord Arbuthnot added that he would have accepted the statement at face value and would have expected public officials such as Ms Vennells would tell the truth. Mr Beer also asked Lord Arbuthnot whether Post Office officials had disclosed a long list of cases which found bugs within the IT system, and listed a number of specific cases in which postmasters had been acquitted. Lord Arbuthnot answered: ""No."" In an earlier statement to the press, Ms Vennells said: ""I continue to fully support and focus on co-operating with the inquiry and it would be inappropriate for me to comment further while it remains ongoing."" Between 1999 and 2015, hundreds of sub-postmasters were wrongly prosecuted by the Post Office due to faulty Horizon software, which showed errors that did not exist. Some lost their jobs, businesses and homes. Many were left financially ruined. Others were convicted and sent to prison and some died while waiting for justice. Sir Anthony Hooper, who was chairman of the Post Office's mediation scheme, told the inquiry on Wednesday that the wrongful prosecutions were ""the greatest scandal that I have ever seen in the criminal justice process"". ""We've had many miscarriages of justice but nowhere as many as these,"" he said. Earlier, Lord Arbuthnot, a former Conservative MP, said he had received the ""brush off"" from Ms Vennells in a letter she wrote to him defending the Horizon IT system. The inquiry was told how in December 2011, Lord Arbuthnot wrote to the Post Office and the government saying the situation with the Horizon IT system had not been rectified and needed further investigation. He received a response the following month from Ms Vennells in which she said there was ""no evidence to support any of the allegations [from former sub-postmasters]"" ""We have no reason to doubt the integrity of the system, which we remain confident is robust and fit for purpose,"" the letter from Ms Vennells said. In his witness statement, Lord Arbuthnot said: ""At this stage I did not know the truth of the matter but it was clear that a detailed investigation was needed."" He said the sub-postmasters he had met ""seemed to me to be transparently honest"". ""I was therefore not satisfied with the brush off I was getting by way of reply to my letters,"" he added. In another letter seen by the inquiry on Wednesday, Ms Vennells denied there were any problems with Horizon, saying it had been ""rigorously tested"". She wrote: ""The Post Office takes very seriously any perception that there is an issue with the accuracy of the Horizon system: there isn't. ""The Horizon system has been rigorously tested using independent assessors and robust procedures."" The inquiry was shown minutes from a May 2012 meeting with MPs, including Lord Arbuthnot. The notes read: ""It appears that some subpostmasters have been borrowing money from the Post Office account/till in the same way they might do in a retail business, but this is not how the Post Office works. Post Office cash is public money and the Post Office must recover it if any goes missing."" Mr Beer asked Lord Arbuthnot whether he agreed that a ""fair"" summary of this meeting was that ""the problem is that a small number of postmasters borrow money from the till. The problem is not Horizon. Every prosecution involving Horizon has found in favour of the Post Office"". Lord Arbuthnot replied: ""Yes."" ",BBC,10/04/2024,"['Former Post Office boss Paula Vennells has been accused of previously making a ""false statement"" about the outcomes of sub-postmasters\' court cases.', 'The inquiry into the Horizon IT scandal heard Ms Vennells wrote to a government minister in 2012: ""In every instance, the court has found in our favour.""', 'Counsel to the inquiry Jason Beer KC said: ""It\'s just not true.""', 'Ms Vennells has been asked to comment and previously said she was co-operating with the inquiry.', 'She is due to give evidence to the inquiry in May.', 'On Wednesday, the inquiry was taking evidence from Lord Arbuthnot, a long-time campaigner for the sub-postmasters.', 'He first got involved with their cases in 2009, when he met former sub-postmaster Jo Hamilton at a constituency coffee morning.', 'Since then, he has continued to speak out on behalf of victims and sits on the Horizon Compensation Advisory Board, which advises the government financial redress for those affected.', 'The inquiry heard that in a 2012 letter to MP Oliver Letwin, Ms Vennells wrote: ""In some cases, which are fortunately very few and far between, we have had to prosecute sub-postmasters for theft or false accounting and provide evidence which substantiates our legal position. ""', 'In every instance, the court has found in our favour.""', 'Counsel to the inquiry Jason Beer KC said: ""Now, that\'s a false statement there, that in every instance the courts have found in our favour.', 'It\'s just not true.""', 'He asked Lord Arbuthnot if he would have known at the time that it may have been a false statement, to which he replied: ""No, I wouldn\'t.""', 'Lord Arbuthnot added that he would have accepted the statement at face value and would have expected public officials such as Ms Vennells would tell the truth.', 'Mr Beer also asked Lord Arbuthnot whether Post Office officials had disclosed a long list of cases which found bugs within the IT system, and listed a number of specific cases in which postmasters had been acquitted.', 'Lord Arbuthnot answered: ""No.""', 'In an earlier statement to the press, Ms Vennells said: ""I continue to fully support and focus on co-operating with the inquiry and it would be inappropriate for me to comment further while it remains ongoing.""', 'Between 1999 and 2015, hundreds of sub-postmasters were wrongly prosecuted by the Post Office due to faulty Horizon software, which showed errors that did not exist.', 'Some lost their jobs, businesses and homes.', 'Many were left financially ruined.', 'Others were convicted and sent to prison and some died while waiting for justice.', 'Sir Anthony Hooper, who was chairman of the Post Office\'s mediation scheme, told the inquiry on Wednesday that the wrongful prosecutions were ""the greatest scandal that I have ever seen in the criminal justice process"". ""', 'We\'ve had many miscarriages of justice but nowhere as many as these,"" he said.', 'Earlier, Lord Arbuthnot, a former Conservative MP, said he had received the ""brush off"" from Ms Vennells in a letter she wrote to him defending the Horizon IT system.', 'The inquiry was told how in December 2011, Lord Arbuthnot wrote to the Post Office and the government saying the situation with the Horizon IT system had not been rectified and needed further investigation.', 'He received a response the following month from Ms Vennells in which she said there was ""no evidence to support any of the allegations [from former sub-postmasters]"" ""We have no reason to doubt the integrity of the system, which we remain confident is robust and fit for purpose,"" the letter from Ms Vennells said.', 'In his witness statement, Lord Arbuthnot said: ""At this stage I did not know the truth of the matter but it was clear that a detailed investigation was needed.""', 'He said the sub-postmasters he had met ""seemed to me to be transparently honest"". ""', 'I was therefore not satisfied with the brush off I was getting by way of reply to my letters,"" he added.', 'In another letter seen by the inquiry on Wednesday, Ms Vennells denied there were any problems with Horizon, saying it had been ""rigorously tested"".', 'She wrote: ""The Post Office takes very seriously any perception that there is an issue with the accuracy of the Horizon system: there isn\'t. ""', 'The Horizon system has been rigorously tested using independent assessors and robust procedures.""', 'The inquiry was shown minutes from a May 2012 meeting with MPs, including Lord Arbuthnot.', 'The notes read: ""It appears that some subpostmasters have been borrowing money from the Post Office account/till in the same way they might do in a retail business, but this is not how the Post Office works.', 'Post Office cash is public money and the Post Office must recover it if any goes missing.""', 'Mr Beer asked Lord Arbuthnot whether he agreed that a ""fair"" summary of this meeting was that ""the problem is that a small number of postmasters borrow money from the till.', 'The problem is not Horizon.', 'Every prosecution involving Horizon has found in favour of the Post Office"".', 'Lord Arbuthnot replied: ""Yes.""']",-0.0212114297826114,"He received a response the following month from Ms Vennells in which she said there was ""no evidence to support any of the allegations [from former sub-postmasters]"" ""We have no reason to doubt the integrity of the system, which we remain confident is robust and fit for purpose,"" the letter from Ms Vennells said.","Between 1999 and 2015, hundreds of sub-postmasters were wrongly prosecuted by the Post Office due to faulty Horizon software, which showed errors that did not exist.",-0.9359880536794662,,"Some lost their jobs, businesses and homes.",2024-04-10 -The NCAA women’s basketball final outrated the men’s for the first time ever,https://edition.cnn.com/2024/04/09/media/ncaa-womens-tournament-outrated-mens-for-first-time/index.html," - Updated - 7:14 PM EDT, Tue April 9, 2024 - ","For the first time in its 42-year history, more people watched the women’s NCAA basketball final than the men’s. - - The total number of viewers for Sunday’s women’s national championship game between South Carolina and Iowa was 18.9 million, peaking at 24.1 million in the game’s final 15 minutes, according to Nielsen. It was the most-watched women’s college basketball game ever and doubled the previous year’s 9.9 million viewers. - - On Monday, the University of Connecticut’s victory over Purdue in the men’s final drew 14.8 million viewers, Nielsen said. That was up a smidge from the 14.7 million who watched last year’s men’s championship game, but fell 4 million viewers short of the women’s final. - - The biggest reason why the women outrated the men this year: Iowa sensation Caitlin Clark, who scored 30 points in the Hawkeyes’ 87-75 defeat by the undefeated Gamecocks. - - Clark captivated fans all year, setting records on the court and driving the women’s game to viewership records throughout the regular season and the March Madness tournament. Clark finished the 2023-2024 season as the highest scoring collegiate basketball player in history, outpacing Louisiana State sensation (and future NBA legend and Hall of Famer) Pete Maravich, who had set the previous record in 1970. - - Clark had been playing with a chip on her shoulder all season after her Hawkeyes lost in the finals the previous year to LSU — a team she and Iowa vanquished earlier in the tournament. She is widely expected to be the top pick in the WNBA draft next week. - - To put the women’s championship game viewership in perspective, it outrated every 2023 World Series game and every NBA finals game from last year, according to Nielsen. - - The success of this year’s tournament led to many hot takes in sports media about women’s sports finally reaching equal status with men’s. But Clark’s exit from the college game and likely rookie season on the dreadful Indiana Fever — which has the first pick in the WNBA draft — will put those theories to the test later this year. - - The WNBA remains financially miniscule, bringing in a reported $200 million in revenue — compared to the NBA’s more than $10 billion. ESPN’s SportsCenter provided 91 seconds of coverage for the average WNBA game, compared to 266 seconds for the average NBA game, according to Nielsen. The WNBA Finals last year averaged just 728,000 viewers a game. - - Still, the league is growing, and a celebrity with nationwide name recognition and star power could work to change the WNBA’s fortunes. So far, even before Clark has been drafted, the buzz is boosting ticket sales. - - Ticket reseller TickPick said WNBA ticket sales for next season are up 222% from this point last year, and Fever tickets have already outpaced last year’s total by 86%. And Fever home games are setting back fans $81 a ticket — up from just $45 for last season. - - Away games won’t get you any help — an opportunity to watch Caitlin Clark play in a rival city costs $108 on average, TickPick said, up 151% from last year’s $43 average ticket price to watch the Fever play an away game. - - Oh, yeah, and in the men’s college basketball final Monday, the Huskies won their second-straight championship, beating the Boilermakers, who were in their first final since 1969. Whatever.",CNN,09/04/2024,"['For the first time in its 42-year history, more people watched the women’s NCAA basketball final than the men’s.', 'The total number of viewers for Sunday’s women’s national championship game between South Carolina and Iowa was 18.9 million, peaking at 24.1 million in the game’s final 15 minutes, according to Nielsen.', 'It was the most-watched women’s college basketball game ever and doubled the previous year’s 9.9 million viewers.', 'On Monday, the University of Connecticut’s victory over Purdue in the men’s final drew 14.8 million viewers, Nielsen said.', 'That was up a smidge from the 14.7 million who watched last year’s men’s championship game, but fell 4 million viewers short of the women’s final.', 'The biggest reason why the women outrated the men this year: Iowa sensation Caitlin Clark, who scored 30 points in the Hawkeyes’ 87-75 defeat by the undefeated Gamecocks.', 'Clark captivated fans all year, setting records on the court and driving the women’s game to viewership records throughout the regular season and the March Madness tournament.', 'Clark finished the 2023-2024 season as the highest scoring collegiate basketball player in history, outpacing Louisiana State sensation (and future NBA legend and Hall of Famer) Pete Maravich, who had set the previous record in 1970.', 'Clark had been playing with a chip on her shoulder all season after her Hawkeyes lost in the finals the previous year to LSU — a team she and Iowa vanquished earlier in the tournament.', 'She is widely expected to be the top pick in the WNBA draft next week.', 'To put the women’s championship game viewership in perspective, it outrated every 2023 World Series game and every NBA finals game from last year, according to Nielsen.', 'The success of this year’s tournament led to many hot takes in sports media about women’s sports finally reaching equal status with men’s.', 'But Clark’s exit from the college game and likely rookie season on the dreadful Indiana Fever — which has the first pick in the WNBA draft — will put those theories to the test later this year.', 'The WNBA remains financially miniscule, bringing in areported$200 million in revenue — compared to the NBA’s more than $10 billion.', 'ESPN’s SportsCenter provided 91 seconds of coverage for the average WNBA game, compared to 266 seconds for the average NBA game, according to Nielsen.', 'The WNBA Finals last year averaged just 728,000 viewers a game.', 'Still, the league is growing, and a celebrity with nationwide name recognition and star power could work to change the WNBA’s fortunes.', 'So far, even before Clark has been drafted, the buzz is boosting ticket sales.', 'Ticket reseller TickPick said WNBA ticket sales for next season are up 222% from this point last year, and Fever tickets have already outpaced last year’s total by 86%.', 'And Fever home games are setting back fans $81 a ticket — up from just $45 for last season.', 'Away games won’t get you any help — an opportunity to watch Caitlin Clark play in a rival city costs $108 on average, TickPick said, up 151% from last year’s $43 average ticket price to watch the Fever play an away game.', 'Oh, yeah, and in the men’s college basketball final Monday, the Huskies won their second-straight championship, beating the Boilermakers, who were in their first final since 1969.', 'Whatever.']",0.1104765147784542,"Away games won’t get you any help — an opportunity to watch Caitlin Clark play in a rival city costs $108 on average, TickPick said, up 151% from last year’s $43 average ticket price to watch the Fever play an away game.",But Clark’s exit from the college game and likely rookie season on the dreadful Indiana Fever — which has the first pick in the WNBA draft — will put those theories to the test later this year.,0.8351023842891058,"Ticket reseller TickPick said WNBA ticket sales for next season are up 222% from this point last year, and Fever tickets have already outpaced last year’s total by 86%.","The WNBA remains financially miniscule, bringing in areported$200 million in revenue — compared to the NBA’s more than $10 billion.",2024-04-10 -Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html," - Published - 5:33 AM EDT, Tue March 19, 2024 - ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies. - - However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK. - - For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI. - - “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.” - - Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events. - - For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports. - - According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.” - - Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way. - - Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human. - - US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app. - - Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. - - “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.” - - Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says. - - “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-04-10 -Tesco says price pressures easing as profits soar,https://www.bbc.co.uk/news/business-68776913,2024-04-10T06:24:56.000Z,"Tesco has said price pressures on grocers have eased as it reported bumper sales and profits for the past year. The UK's biggest supermarket chain said pre-tax profits hit £2.3bn, up from £882m, while sales rose by 4.4% to £68.2bn in the year to 24 February. The company said price inflation in groceries had ""lessened substantially"". However, its boss Ken Murphy said the firm was conscious ""things were still difficult for many customers"". Tesco had ""worked hard"" to cut prices, he said, and ""doubled down"" on schemes aimed at offering shoppers better value for money, such as its Aldi Price Match offer and Clubcard promotions. More than 4,000 products were cheaper at the end of the year than at the start, with an average price cut of about 12%, the firm said. Mr Murphy said he expected food inflation - which measures the rate at which food prices rise over time - to stabilise in the ""low single digits for the rest of the year"". However, he said that the cost increases seen across select items like cocoa, potatoes and coffee might prove ""sticky"". The chain also came in for criticism from the Unite union. General secretary Sharon Graham said Tesco was ""raking in mountains of cash while families struggle to put food on the table because of sky high prices"". Tesco has more than 330,000 employees and a 27.3% share of the grocery market, which Mr Murphy said was growing as customers ""respond to the improvements we've made to the value and quality of our products"". He told reporters on Wednesday that shoppers were also sticking to habits they had taken on over the last two years as the cost of living soared. ""I do think there is a little bit more now of a habit of eating in and entertaining in and then treating yourself,"" he said. Like-for-like food sales, which strip out the effect of new shops opening, were up by 7.7% in the UK, with consumers opting for premium ranges like Tesco Finest and meat-free ready meals to treat themselves at home. While home and clothing sales were flat as the retailer stopped offering big-ticket electrical items, it said that womenswear had held up well. Global retail analyst at Bloomberg Intelligence Charles Allen told BBC Radio 4's Today programme that the company had done a ""lot of work"" to keep up with its rivals such as German discounters Aldi and Lidl. He said that the results were ""broadly in line"" with expectations, though ""just a shade weaker than anticipated"". He said things would not get any easier for the retailer during the coming year as increasing staff bills would take effect just as inflation was slowing down. This meant ""you haven't got the same sales boost"" from higher prices, he said, adding that the company would need to focus on selling a higher number of items. Asked what Tesco was doing to hang on to new customers, Mr Allen said ""mostly it's been very price competitive"". It had also ""worked away at its costs"". For example, he said they were taking specialist counters out of the shops, which cut costs and enables it to be ""attractive to a wider group of consumers"". In the year ahead, the supermarket was still, however, continuing on its cost-cutting drive, aiming for £500m in savings in the year ahead. It also confirmed that it would have to spend in the ""mid to high single digit"" millions on changing its Clubcard price signs in shops after losing a long legal battle with rival Lidl over the logos. Like many other retailers, it will also face a higher wage bill as a higher minimum wage has come in and it joined other retailers in increasing pay overall in a bid to retain staff. Read more tips here ",BBC,10/04/2024,"['Tesco has said price pressures on grocers have eased as it reported bumper sales and profits for the past year.', ""The UK's biggest supermarket chain said pre-tax profits hit £2.3bn, up from £882m, while sales rose by 4.4% to £68.2bn in the year to 24 February."", 'The company said price inflation in groceries had ""lessened substantially"".', 'However, its boss Ken Murphy said the firm was conscious ""things were still difficult for many customers"".', 'Tesco had ""worked hard"" to cut prices, he said, and ""doubled down"" on schemes aimed at offering shoppers better value for money, such as its Aldi Price Match offer and Clubcard promotions.', 'More than 4,000 products were cheaper at the end of the year than at the start, with an average price cut of about 12%, the firm said.', 'Mr Murphy said he expected food inflation - which measures the rate at which food prices rise over time - to stabilise in the ""low single digits for the rest of the year"".', 'However, he said that the cost increases seen across select items like cocoa, potatoes and coffee might prove ""sticky"".', 'The chain also came in for criticism from the Unite union.', 'General secretary Sharon Graham said Tesco was ""raking in mountains of cash while families struggle to put food on the table because of sky high prices"".', 'Tesco has more than 330,000 employees and a 27.3% share of the grocery market, which Mr Murphy said was growing as customers ""respond to the improvements we\'ve made to the value and quality of our products"".', 'He told reporters on Wednesday that shoppers were also sticking to habits they had taken on over the last two years as the cost of living soared. ""', 'I do think there is a little bit more now of a habit of eating in and entertaining in and then treating yourself,"" he said.', 'Like-for-like food sales, which strip out the effect of new shops opening, were up by 7.7% in the UK, with consumers opting for premium ranges like Tesco Finest and meat-free ready meals to treat themselves at home.', 'While home and clothing sales were flat as the retailer stopped offering big-ticket electrical items, it said that womenswear had held up well.', 'Global retail analyst at Bloomberg Intelligence Charles Allen told BBC Radio 4\'s Today programme that the company had done a ""lot of work"" to keep up with its rivals such as German discounters Aldi and Lidl.', 'He said that the results were ""broadly in line"" with expectations, though ""just a shade weaker than anticipated"".', 'He said things would not get any easier for the retailer during the coming year as increasing staff bills would take effect just as inflation was slowing down.', 'This meant ""you haven\'t got the same sales boost"" from higher prices, he said, adding that the company would need to focus on selling a higher number of items.', 'Asked what Tesco was doing to hang on to new customers, Mr Allen said ""mostly it\'s been very price competitive"".', 'It had also ""worked away at its costs"".', 'For example, he said they were taking specialist counters out of the shops, which cut costs and enables it to be ""attractive to a wider group of consumers"".', 'In the year ahead, the supermarket was still, however, continuing on its cost-cutting drive, aiming for £500m in savings in the year ahead.', 'It also confirmed that it would have to spend in the ""mid to high single digit"" millions on changing its Clubcard price signs in shops after losing a long legal battle with rival Lidl over the logos.', 'Like many other retailers, it will also face a higher wage bill as a higher minimum wage has come in and it joined other retailers in increasing pay overall in a bid to retain staff.', 'Read more tips here']",0.0906959583167569,"Like-for-like food sales, which strip out the effect of new shops opening, were up by 7.7% in the UK, with consumers opting for premium ranges like Tesco Finest and meat-free ready meals to treat themselves at home.","It also confirmed that it would have to spend in the ""mid to high single digit"" millions on changing its Clubcard price signs in shops after losing a long legal battle with rival Lidl over the logos.",0.6354675184596669,"Like-for-like food sales, which strip out the effect of new shops opening, were up by 7.7% in the UK, with consumers opting for premium ranges like Tesco Finest and meat-free ready meals to treat themselves at home.","However, he said that the cost increases seen across select items like cocoa, potatoes and coffee might prove ""sticky"".",2024-04-10 -Nigeria Binance dispute: Cryptocurrency official denies money laundering,https://www.bbc.co.uk/news/world-africa-68762553,2024-04-08T17:07:59.000Z,"An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court. US citizen Tigran Gambaryan was arrested in February, along with his colleague Nadeem Anjarwalla, a British-Kenyan dual national. Their detention came as Nigeria accused Binance of being behind the country's economic turmoil. Two weeks ago Mr Anjarwalla escaped from custody and his whereabouts are unknown. On Monday, Mr Gambaryan rejected five counts of money laundering filed against him by Nigeria's Economic and Financial Crimes Commission (EFCC). After the hearing, he was transferred to Kuje Correctional Centre, a prison in the capital, Abuja. The facility has in the past held inmates ranging from jihadists to politicians. Mr Gambaryan and Mr Anjarwalla had previously been detained in an unknown location. In a statement released after Monday's hearing, Mr Gambaryan's wife, Yuki, said: ""I am beyond heartbroken that my innocent husband is being sent to a prison that houses known terrorists and murderers... it is beyond unacceptable that this is how they are treating a completely innocent man."" A Binance spokesperson said the charges against Mr Gambaryan were ""meritless"". They told the BBC: ""We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained."" The EFCC had accused Binance - understood to be one of the most popular cryptocurrency platforms in Nigeria - along with Mr Gambaryan and Mr Anjarwalla, of laundering $35.4m (£28m). In February, Mr Gambarayan, who is in charge of financial crime compliance at Binance, and Mr Anjarwalla, who is Binance's Africa Regional Manager, were detained after arriving in Nigeria for meetings to discuss the platform's operations in the country. Binance was later that week ordered to pay a fine of $10bn (£8bn). The government accused it of currency speculation and fixing exchange rates, leading to the free-fall of the local currency, the naira. The weakening of the naira, alongside food inflation and the soaring cost of living, has sparked an economic crisis in Nigeria. Binance is not alone - Nigeria's authorities have been clamping down on cryptocurrency platforms in general over allegations they are being used for money laundering and financing terrorism. As well as money laundering charges, Binance and the two executives also face four counts of tax evasion, filed by the Federal Inland Revenue Service (FIRS). After Mr Anjarwalla fled the country, Nigerian authorities said he had escaped with a ""smuggled passport"", but a family source said he had left by ""by lawful means"". Nigeria said it was ""working with Interpol for an international arrest warrant on the suspect"". As of Monday, Mr Anjarwalla was not on Interpol's red notice list for ""internationally wanted fugitives"". ",BBC,08/04/2024,"['An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court.', 'US citizen Tigran Gambaryan was arrested in February, along with his colleague Nadeem Anjarwalla, a British-Kenyan dual national.', ""Their detention came as Nigeria accused Binance of being behind the country's economic turmoil."", 'Two weeks ago Mr Anjarwalla escaped from custody and his whereabouts are unknown.', ""On Monday, Mr Gambaryan rejected five counts of money laundering filed against him by Nigeria's Economic and Financial Crimes Commission (EFCC)."", 'After the hearing, he was transferred to Kuje Correctional Centre, a prison in the capital, Abuja.', 'The facility has in the past held inmates ranging from jihadists to politicians.', 'Mr Gambaryan and Mr Anjarwalla had previously been detained in an unknown location.', 'In a statement released after Monday\'s hearing, Mr Gambaryan\'s wife, Yuki, said: ""I am beyond heartbroken that my innocent husband is being sent to a prison that houses known terrorists and murderers... it is beyond unacceptable that this is how they are treating a completely innocent man.""', 'A Binance spokesperson said the charges against Mr Gambaryan were ""meritless"".', 'They told the BBC: ""We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained.""', 'The EFCC had accused Binance - understood to be one of the most popular cryptocurrency platforms in Nigeria - along with Mr Gambaryan and Mr Anjarwalla, of laundering $35.4m (£28m).', ""In February, Mr Gambarayan, who is in charge of financial crime compliance at Binance, and Mr Anjarwalla, who is Binance's Africa Regional Manager, were detained after arriving in Nigeria for meetings to discuss the platform's operations in the country."", 'Binance was later that week ordered to pay a fine of $10bn (£8bn).', 'The government accused it of currency speculation and fixing exchange rates, leading to the free-fall of the local currency, the naira.', 'The weakening of the naira, alongside food inflation and the soaring cost of living, has sparked an economic crisis in Nigeria.', ""Binance is not alone - Nigeria's authorities have been clamping down on cryptocurrency platforms in general over allegations they are being used for money laundering and financing terrorism."", 'As well as money laundering charges, Binance and the two executives also face four counts of tax evasion, filed by the Federal Inland Revenue Service (FIRS).', 'After Mr Anjarwalla fled the country, Nigerian authorities said he had escaped with a ""smuggled passport"", but a family source said he had left by ""by lawful means"".', 'Nigeria said it was ""working with Interpol for an international arrest warrant on the suspect"".', 'As of Monday, Mr Anjarwalla was not on Interpol\'s red notice list for ""internationally wanted fugitives"".']",-0.3249722933220262,"The government accused it of currency speculation and fixing exchange rates, leading to the free-fall of the local currency, the naira.","In a statement released after Monday's hearing, Mr Gambaryan's wife, Yuki, said: ""I am beyond heartbroken that my innocent husband is being sent to a prison that houses known terrorists and murderers... it is beyond unacceptable that this is how they are treating a completely innocent man.""",-0.7206885317961375,An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court.,"The weakening of the naira, alongside food inflation and the soaring cost of living, has sparked an economic crisis in Nigeria.",2024-04-10 -Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html," - Published - 7:14 AM EST, Fri March 1, 2024 - ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app. - - Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them. - - Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch. - - The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills. - - “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app. - - “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’” - - It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021. - - Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas. - - Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year. - - Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid. - - The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research. - - Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods. - - “It’s more about evolution than revolution,” Felton-Thomas explained. - - “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?” - - “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.” - - While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports. - - “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-04-10 -"Consumer Reports says Lunchables ‘should not be allowed on menu’ for schools, petitions USDA for removal",https://edition.cnn.com/2024/04/09/business/lunchables-for-school-high-sodium-consumer-reports-wellness/index.html," - Updated - 9:42 PM EDT, Tue April 9, 2024 - ","The school cafeteria versions of popular kids’ grocery store snack kit Lunchables is packed with too much sodium, a consumer watchdog group warned on Tuesday. - - Lunchables developed two new versions of the snack kit specifically to be available nationally as part of school lunch programs for the first time last year. But a new report from Consumer Reports said it recently compared the nutritional profiles of two Lunchables kits served in schools and found they have even higher levels of sodium than the Lunchables kits consumers can buy in stores. - - Consumer Reports said sodium levels in the store-bought lunch and snack kits it tested ranged from 460 to 740 milligrams per serving, or “nearly a quarter to half of a child’s daily recommended limit for sodium.” The group found that sodium levels in the turkey and cheddar school versions of Lunchables contained 930 mg of sodium compared to 740 mg in the store-bought version. - - Consumer Reports said it tested 12 store-bought versions of Lunchables and similar ready-to-eat meal kits, including from Armour LunchMakers, Good & Gather, Greenfield Natural Meat Co. and Oscar Mayer, and also found lead, cadmium, or both in all, although none of the kits exceeded any federal limit. The testing also surfaced high levels of sodium in the other lunch kits. - - Cadmium has been linked to kidney and bone disease and cancer, according to the World Health Organization.  As natural elements, heavy metals such as lead and cadmium are in the soil in which crops are grown and thus can’t be avoided. Some crop fields and regions, however, contain more toxic levels than others, partly due to the overuse of metal-containing pesticides and ongoing industrial pollution. - - There is no safe level of lead for children, however, according to the US Centers for Disease Control and Prevention. - - Lead bio-accumulates in the body, which means it stays and builds up over time, so ongoing exposure, even at extremely low levels, can become toxic. Children, especially infants, are particularly vulnerable because a smaller dose of lead can have a larger health effect on them compared with adults. - - Consumer Reports’ tests also detected at least one type of phthalate or phthalate replacement chemical in every kit it tested, except for Lunchables Extra Cheesy Pizza, it said. Lead and cadmium can cause developmental problems in children over time, even in small amounts. - - Called “everywhere chemicals” because they are so common, studies have linked phthalates to childhood obesity, asthma, cardiovascular issues, cancer and reproductive problems such as genital malformations and undescended testes in baby boys and low sperm counts and testosterone levels in adult males. - - The non-profit consumer group said it has petitioned the US Department of Agriculture, which oversees the federally assisted school meal program, to remove Lunchables food kits from school cafeterias, as a result. - - “Lunchables are not a healthy option for kids and shouldn’t be allowed on the menu as part of the National School Lunch Program,” Brian Ronholm, director of food policy at Consumer Reports, said in a statement. “The Lunchables and similar lunch kits we tested contain concerning levels of sodium and harmful chemicals that can lead to serious health problems over time. The USDA should remove Lunchables from the National School Lunch Program and ensure that kids in schools have healthier options.” - - Lunchables, made by Kraft Heinz, took its packaged ready-to-eat kids meals directly into K-12 school lunchrooms nationwide through the National School Lunch Program (NSLP) for the first time last year. The NSLP, established in 1946, provides lunch daily to nearly 30 million students in public and non-profit private schools and residential child care institutions. - - But the company first had to re-formulate the ingredients to ensure the products met federal guidelines. - - The rollout included two specially-created Lunchables options for schools (separate from Lunchables sold in grocery stores) – labeled “turkey and cheddar” and “extra cheesy pizza.” Kraft Heinz told CNN that the turkey and cheese option contains 6 grams of saturated fat and 930 milligrams of sodium while the extra cheesy variety contains 7 grams of saturated fat and 700 milligrams of sodium. - - Kraft Heinz said both options were made using “a specialized recipe that incorporates more protein and whole grains to keep kids powered throughout the day, reduced saturated fat and sodium, and an increased serving size.” - - The Lunchables pizza variety for schools (with 700 mg of sodium) compared to 510 mg in the store version. Eating foods with too much sodium can lead to high blood pressure and hypertension, Consumer Reports said. - - The introduction of Lunchables in schools came amid proposed changes to school food guidelines by the USDA, which oversees the federally assisted school meal program. The proposed changes aimed to reduce added sugars and sodium levels in school-provided lunches. The standards would reduce sodium limits gradually over several school years. - - The USDA in a statement to CNN late Tuesday said the agency “takes very seriously our responsibility to ensure school meals are of the highest nutritional quality.” - - At the same time, it said the USDA doesn’t allow or disallow individual food items. “Our requirements address the overall content of meals – some of them on a daily basis and others on a weekly basis. So, the Lunchables described in the article would need to be paired with fruit, vegetables and milk. In addition, a school who wanted to serve a higher sodium product one day has to balance that with lower sodium items on others.” - - Kraft Heinz told CNN in a statement Tuesday the company has taken steps to improve the nutrition profile of Lunchables. The effort, it said, includes launching Lunchables with fresh fruit, in partnership with Fresh Del Monte, and “reducing the sodium in all Lunchables crackers by 26%.” - - “All our foods meet strict safety standards that we happily feed to our own families. We are proud of Lunchables and stand by the quality and integrity that goes into making them,” the company said. - - Consumer Reports also pointed to concerning additives included in many of the Lunchable products. Additives are ingredients added by manufacturers to stimulate appetite and extend shelf life. - - The presence of additives is a key indicator of whether a food is ultraprocessed, said Carlos Monteiro, emeritus professor at the school of public health at the University of Sao Paulo, Brazil. In 2009 Monteiro created NOVA, a system of classifying food into categories from minimally processed to ultraprocessed. - - “In terms of food processing, additives are essential to creating ultraprocessed foods,” Monteiro said. “Additives in ultraprocessed foods are those that use color, texture, flavor, and everything people like. So these products are made appealing not with real food, but with additives,” he said. - - Such additives include preservatives to resist mold and bacteria; emulsifiers to keep incompatible ingredients from separating; artificial colorings and dyes; de-foaming, bulking and bleaching agents; and added or altered sugar, salt and fats intended to boost flavor to a “bliss point” that is hard to resist. - - Food additives are considered “generally recognized as safe” (GRAS) by the US Food and Drug Administration, but not everyone agrees. Watchdog groups like the Center for Science in the Public Interest and the Environmental Working Group (EWG) provide lists of concerning chemicals found in food, as well as added sugars, salt and fats. A growing number of grocery stores and a few restaurants have also taken steps to ban worrisome chemicals from foods they sell. - - According to ingredients listed on the Kraft-Heinz “Away from Home” website, CNN found the turkey and cheese Lunchables contains tertiary-butyl hydroquinone (TBHQ), a petroleum-based chemical found in pesticides. Studies have found TBHQ may lower immune response to flu and Covid-19 vaccines, may various roles in the development of cancer, and may even alter DNA. - - The Lunchables also contains the pesticide sodium diacetate, which adds sourness and fights fungus and bacteria, carrageenan, which has been shown to create inflammation and digestive issues in animals, and sodium nitrate, a preservative used in cured deli meats, hot dogs, bacon and sausage that has been linked to cancer and other diseases.",CNN,09/04/2024,"['The school cafeteria versions of popular kids’ grocery store snack kit Lunchables is packed with too much sodium, a consumer watchdog group warned on Tuesday.', 'Lunchables developed two new versions of the snack kit specifically to be available nationally as part of school lunch programs for the first time last year.', 'But a new report from Consumer Reports said it recently compared the nutritional profiles of two Lunchables kits served in schools and found they have even higher levels of sodium than the Lunchables kits consumers can buy in stores.', 'Consumer Reports said sodium levels in the store-bought lunch and snack kits it tested ranged from 460 to 740 milligrams per serving, or “nearly a quarter to half of a child’s daily recommended limit for sodium.”', 'The group found that sodium levels in the turkey and cheddar school versions of Lunchables contained 930 mg of sodium compared to 740 mg in the store-bought version.', 'Consumer Reports said it tested12 store-bought versions of Lunchables and similar ready-to-eat meal kits, including from Armour LunchMakers, Good & Gather, Greenfield Natural Meat Co. and Oscar Mayer, and also found lead, cadmium, or both in all, although none of the kits exceeded any federal limit.', 'The testing also surfaced high levels of sodium in the other lunch kits.', 'Cadmium has been linked to kidney and bone disease and cancer,according to the World Health Organization.', 'As natural elements, heavy metals such as lead and cadmium are in the soil in which crops are grown and thus can’t be avoided.', 'Some crop fields and regions, however, contain moretoxic levels than others, partly due to the overuse of metal-containing pesticides and ongoing industrial pollution.', 'There isno safe level of leadfor children, however, according to the US Centers for Disease Control and Prevention.', 'Lead bio-accumulates in the body, which means it stays and builds up over time, so ongoing exposure, even at extremely low levels, can become toxic.', 'Children, especially infants, are particularly vulnerable because a smaller dose of lead can have a larger health effect on them compared with adults.', 'Consumer Reports’ tests also detected at least one type of phthalate or phthalate replacement chemical in every kit it tested, except for Lunchables Extra Cheesy Pizza, it said.', 'Lead and cadmium can cause developmental problems in children over time, even in small amounts.', 'Called“everywhere chemicals” because they are so common, studies have linked phthalates tochildhood obesity,asthma,cardiovascular issues,cancerandreproductive problemssuch asgenital malformationsandundescended testesin baby boys andlow sperm countsandtestosterone levelsin adult males.', 'The non-profit consumer group said it has petitioned the US Department of Agriculture, which oversees thefederally assisted school meal program, to remove Lunchables food kits from school cafeterias, as a result.', '“Lunchables are not a healthy option for kids and shouldn’t be allowed on the menu as part of the National School Lunch Program,” Brian Ronholm, director of food policy at Consumer Reports, said in a statement. “', 'The Lunchables and similar lunch kits we tested contain concerning levels of sodium and harmful chemicals that can lead to serious health problems over time.', 'The USDA should remove Lunchables from the National School Lunch Program and ensure that kids in schools have healthier options.”', 'Lunchables, made by Kraft Heinz, took its packaged ready-to-eat kids meals directly into K-12 school lunchrooms nationwide through the National School Lunch Program (NSLP) for the first time last year.', 'The NSLP, established in 1946, provides lunch daily to nearly 30 million students in public and non-profit private schools and residential child care institutions.', 'But the company first had to re-formulate the ingredients to ensure the products met federal guidelines.', 'The rollout included two specially-created Lunchables options for schools (separate from Lunchables sold in grocery stores) – labeled “turkey and cheddar” and “extra cheesy pizza.”', 'Kraft Heinz told CNN that the turkey and cheese option contains 6 grams of saturated fat and 930 milligrams of sodium while the extra cheesy variety contains 7 grams of saturated fat and 700 milligrams of sodium.', 'Kraft Heinz said both options were made using “a specialized recipe that incorporates more protein and whole grains to keep kids powered throughout the day, reduced saturated fat and sodium, and an increased serving size.”', 'The Lunchables pizza variety for schools (with 700 mg of sodium) compared to 510 mg in the store version.', 'Eating foods with too much sodium can lead to high blood pressure and hypertension, Consumer Reports said.', 'The introduction of Lunchables in schools came amid proposed changes to school food guidelines by the USDA, which oversees thefederally assisted school meal program.', 'Theproposed changesaimed to reduce added sugars and sodium levels in school-provided lunches.', 'The standards would reduce sodium limits gradually over several school years.', 'The USDA in a statement to CNN late Tuesday said the agency “takes very seriously our responsibility to ensure school meals are of the highest nutritional quality.”', 'At the same time, it said the USDA doesn’t allow or disallow individual food items. “', 'Our requirements address the overall content of meals – some of them on a daily basis and others on a weekly basis.', 'So, the Lunchables described in the article would need to be paired with fruit, vegetables and milk.', 'In addition, a school who wanted to serve a higher sodium product one day has to balance that with lower sodium items on others.”', 'Kraft Heinz told CNN in a statement Tuesday the company has taken steps to improve the nutrition profile of Lunchables.', 'The effort, it said, includes launching Lunchables with fresh fruit, in partnership with Fresh Del Monte, and “reducing the sodium in all Lunchables crackers by 26%.”', '“All our foods meet strict safety standards that we happily feed to our own families.', 'We are proud of Lunchables and stand by the quality and integrity that goes into making them,” the company said.', 'Consumer Reports also pointed to concerning additives included in many of the Lunchable products.', 'Additives are ingredients added by manufacturers to stimulate appetite and extend shelf life.', 'The presence of additives is a key indicator of whether a food is ultraprocessed, said Carlos Monteiro, emeritus professor at the school of public health at theUniversity of Sao Paulo, Brazil.', 'In 2009 Monteiro created NOVA, a system of classifying food into categories from minimally processed to ultraprocessed.', '“In terms of food processing, additives are essential to creating ultraprocessed foods,” Monteiro said. “', 'Additives in ultraprocessed foods are those that use color, texture, flavor, and everything people like.', 'So these products are made appealing not with real food, but with additives,” he said.', 'Such additives include preservatives to resist mold and bacteria; emulsifiers to keep incompatible ingredients from separating; artificial colorings and dyes; de-foaming, bulking and bleaching agents; and added or altered sugar, salt and fats intended to boost flavor to a “bliss point” that is hard to resist.', 'Food additives are considered “generally recognized as safe” (GRAS) by the US Food and Drug Administration, but not everyone agrees.', 'Watchdog groups like the Center for Science in the Public Interest and the Environmental Working Group (EWG) provide lists of concerning chemicals found in food, as well as added sugars, salt and fats.', 'A growing numberof grocery stores and a few restaurants have also taken steps to ban worrisome chemicals from foods they sell.', 'According to ingredients listed on the Kraft-Heinz “Away from Home” website, CNN found the turkey and cheese Lunchables contains tertiary-butyl hydroquinone (TBHQ), a petroleum-based chemical found in pesticides.', 'Studies have found TBHQ may lower immune response to flu and Covid-19 vaccines, may various roles in the development of cancer, and may even alter DNA.', 'The Lunchables also contains the pesticide sodium diacetate, which adds sourness and fights fungus and bacteria, carrageenan, which has been shown to create inflammation and digestive issues in animals, and sodium nitrate, a preservative used in cured deli meats, hot dogs, bacon and sausage that has been linked to cancer and other diseases.']",0.0917775450024976,"Consumer Reports said it tested12 store-bought versions of Lunchables and similar ready-to-eat meal kits, including from Armour LunchMakers, Good & Gather, Greenfield Natural Meat Co. and Oscar Mayer, and also found lead, cadmium, or both in all, although none of the kits exceeded any federal limit.","Studies have found TBHQ may lower immune response to flu and Covid-19 vaccines, may various roles in the development of cancer, and may even alter DNA.",-0.1163270964342005,Kraft Heinz told CNN in a statement Tuesday the company has taken steps to improve the nutrition profile of Lunchables.,"Studies have found TBHQ may lower immune response to flu and Covid-19 vaccines, may various roles in the development of cancer, and may even alter DNA.",2024-04-10 -Trump Media stock sinks to post-merger low,https://edition.cnn.com/2024/04/05/business/trump-media-stock-sinks-post-merger-low/index.html," - Updated - 7:49 PM EDT, Fri April 5, 2024 - ","Shares of Truth Social owner Trump Media & Technology Group tumbled 12% on Friday, sinking to their lowest level since the company went public last week. - - The selloff has erased nearly $2 billion from the value of former President Donald Trump’s stake in the company this week. - - Trump Media shared surged to as high as $79.38 on March 26, the day trading began on the Nasdaq under the ticker symbol “DJT.” - - Since then, the Truth Social owner’s share price has plunged by 49% to the closing price of $40.49 on Friday. - - Trump Media’s shares have lost about a third of their value this week. Despite this week’s losses, Trump Media shares have still spiked by more than 130% so far this year. - - Trump’s personal stake in the company is now valued at about $3.2 billion. That’s down from $4.9 billion at the end of last week. - - Trump Media recently disclosed losing $58 million last year on very light revenue of just $4.1 million. The financial results underscore concerns raised by some experts that the company is being vastly overvalued by Wall Street. - - Barry Diller, the billionaire chairman of Expedia and People Magazine owner IAC, told CNBC on Thursday that Trump Media is a “scam” and people buying the stock are “dopes.” - - “I mean, it’s ridiculous,” Diller said on CNBC. “The company has no revenue.” - - A Trump Media spokesperson denounced critics of the company. - - “It is unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression that contradicts the narratives they want to enforce,” Shannon Devine, a Trump Media spokesperson, said in a statement to CNN",CNN,05/04/2024,"['Shares of Truth Social owner Trump Media & Technology Group tumbled 12% on Friday, sinking to their lowest level since the company went public last week.', 'The selloff has erased nearly $2 billion from the value of former President Donald Trump’s stake in the company this week.', 'Trump Media shared surged to as high as $79.38 on March 26, the day trading began on the Nasdaqunder the ticker symbol “DJT.”', 'Since then, the Truth Social owner’s share price has plunged by 49% to the closing price of $40.49 on Friday.', 'Trump Media’s shares have lost about a third of their value this week.', 'Despite this week’s losses, Trump Media shares have still spiked by more than 130% so far this year.', 'Trump’s personal stake in the company is now valued at about $3.2 billion.', 'That’s down from $4.9 billion at the end of last week.', 'Trump Media recentlydisclosed losing $58 millionlast year on very light revenue of just $4.1 million.', 'The financial results underscore concerns raised by some experts that the company is beingvastly overvalued by Wall Street.', 'Barry Diller, the billionaire chairman of Expedia and People Magazine owner IAC,told CNBCon Thursday that Trump Media is a “scam” and people buying the stock are “dopes.”', '“I mean, it’s ridiculous,” Diller said on CNBC. “', 'The company has no revenue.”', 'A Trump Media spokesperson denounced critics of the company.', '“It is unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression that contradicts the narratives they want to enforce,” Shannon Devine, a Trump Media spokesperson, said in a statement to CNN']",-0.0423329420203094,"Since then, the Truth Social owner’s share price has plunged by 49% to the closing price of $40.49 on Friday.","“It is unsurprising to see die-hard Trump haters and leftwing flacks blow a gasket now that Truth Social has become a public company that, still today, refuses to suppress political expression that contradicts the narratives they want to enforce,” Shannon Devine, a Trump Media spokesperson, said in a statement to CNN",-0.6045853007923473,"Despite this week’s losses, Trump Media shares have still spiked by more than 130% so far this year.",That’s down from $4.9 billion at the end of last week.,2024-04-10 -"With inflation back up, the long-predicted storm clouds in the economy may actually be forming",https://edition.cnn.com/2024/04/10/economy/economic-storm-clouds-as-inflation-stalls/index.html," - Updated - 11:22 AM EDT, Wed April 10, 2024 - ","Progress on inflation is moving in the wrong direction. - - The latest Consumer Price Index, released Wednesday, showed that annual inflation ticked up to 3.5% in March from 3.2% in February. That marked the largest annual gain in half a year. - - Even though the current inflation rate is better than last March’s 4.9% rate, it signifies the highly anticipated rate cuts investors were banking on may not come this year. Now, instead, they may need to brace for another rate hike as interest rates stand at a 23-year high. - - This could mean that the many influential leaders and economists who long predicted storm clouds and a hurricane hitting the US economy may finally be right. - - Chief among them is JPMorgan Chase CEO Jamie Dimon, whose annual shareholder letter this week highlighted “persistent inflationary pressures.” He also expressed skepticism regarding whether the economy will achieve a soft landing, where inflation continues to cool without causing an unemployment spike. - - Federal Reserve officials share Dimon’s concerns, leading some to question whether any rate cuts should happen this year, starkly contrasting the median forecast of three cuts they made at last month’s meeting and first signaled back in December. But potentially persistent inflation isn’t the only red flag in the economy right now. - - Fed Gov. Michelle Bowman said last week she’s even willing to consider raising rates “should progress on inflation stall or even reverse.” For now, she doesn’t think there’s a high likelihood that hikes will be merited. - - Inflation measured by the Fed’s preferred gauge, the Personal Consumption Expenditures price index, is a percentage point lower than CPI. But it too accelerated in the latest report. - - The significant progress in bringing inflation down from 2022’s multi-decade high last year came from supply chain improvements, a higher supply of workers due in part to immigration, and lower energy prices, Bowman said in a speech last week. - - “It is unclear whether further supply-side improvements will continue to lower inflation,” Bowman added. At the same time, like Dimon, she’s worried geopolitical conflicts and fiscal spending could put more pressure on prices. - - “In one word, the report was discouraging for the Fed and the prospects of a June cut,” Bank of America economists said in a note published after Wednesday’s CPI report. “Inflation is proving sticky.” - - They still feel a June cut will happen but have “low confidence.” Investors, on the other hand, were much more convinced that won’t happen given the March CPI report. - - Although the economy is booming by many measures, including last month’s blowout jobs report, small business owners aren’t feeling gung-ho about it. - - An index produced by the National Federation of Independent Business gauging how small-business owners expect to fare in the future dropped to its lowest level since 2012 last month. - - The main contributor to the decline was a significant fall in the share of business owners who expect their inflation-adjusted sales to be higher during the next three months compared to current levels. - - “The small business sector is showing signs of a potential slowdown,” NFIB head Holly Wade and the trade organization’s chief economist Bill Dunkelberg said in a report published Tuesday. “Continued stress in navigating inflation pressures leads as the top business problem,” they added. - - Higher inflation is also weighing on consumers who are shouldering a record level of credit card debt. - - And the highest share of consumers since the onset of the pandemic said they’re unsure if they’ll make a minimum debt payment on time, according to the New York Fed’s monthly Survey of Consumer Expectations that was released on Monday. - - Across all age groups, the uptick was most profound among 40- to 60-year-olds. That’s significant because that cohort is experiencing an even lower unemployment rate than the nation overall.",CNN,10/04/2024,"['Progress on inflation is moving in the wrong direction.', 'The latest Consumer Price Index, released Wednesday, showed that annual inflation ticked up to 3.5% in March from 3.2% in February.', 'That marked the largest annual gain in half a year.', 'Even though the current inflation rate is better than last March’s 4.9% rate, it signifies the highly anticipated rate cuts investors were banking on may not come this year.', 'Now, instead, they may need to brace for another rate hike as interest rates stand at a 23-year high.', 'This could mean that the many influential leaders and economists who long predicted storm clouds and a hurricane hitting the US economy may finally be right.', 'Chief among them is JPMorgan Chase CEO Jamie Dimon, whose annual shareholder letter this week highlighted “persistent inflationary pressures.”', 'He also expressed skepticism regarding whether the economy will achieve a soft landing, where inflation continues to cool without causing an unemployment spike.', 'Federal Reserve officials share Dimon’s concerns, leading some to question whether any rate cuts should happen this year, starkly contrasting the median forecast of three cuts they made at last month’s meeting and first signaled back in December.', 'But potentially persistent inflation isn’t the only red flag in the economy right now.', 'Fed Gov. Michelle Bowman said last week she’s even willing to consider raising rates “should progress on inflation stall or even reverse.”', 'For now, she doesn’t think there’s a high likelihood that hikes will be merited.', 'Inflation measured by the Fed’s preferred gauge, the Personal Consumption Expenditures price index, is a percentage point lower than CPI.', 'But it too accelerated in the latest report.', 'The significant progress in bringing inflation down from 2022’s multi-decade high last year came from supply chain improvements, a higher supply of workers due in part to immigration, and lower energy prices, Bowman said in a speech last week.', '“It is unclear whether further supply-side improvements will continue to lower inflation,” Bowman added.', 'At the same time, like Dimon, she’s worried geopolitical conflicts and fiscal spending could put more pressure on prices.', '“In one word, the report was discouraging for the Fed and the prospects of a June cut,” Bank of America economists said in a note published after Wednesday���s CPI report. “', 'Inflation is proving sticky.”', 'They still feel a June cut will happen but have “low confidence.”', 'Investors, on the other hand, were much more convinced that won’t happen given the March CPI report.', 'Although the economy is booming by many measures, including last month’s blowout jobs report, small business owners aren’t feeling gung-ho about it.', 'An index produced by the National Federation of Independent Business gauging how small-business owners expect to fare in the future dropped to its lowest level since 2012 last month.', 'The main contributor to the decline was a significant fall in the share of business owners who expect their inflation-adjusted sales to be higher during the next three months compared to current levels.', '“The small business sector is showing signs of a potential slowdown,” NFIB head Holly Wade and the trade organization’s chief economist Bill Dunkelberg said in a report published Tuesday. “', 'Continued stress in navigating inflation pressures leads as the top business problem,” they added.', 'Higher inflation is also weighing on consumers who are shouldering a record level of credit card debt.', 'And the highest share of consumers since the onset of the pandemic said they’re unsure if they’ll make a minimum debt payment on time, according to the New York Fed’s monthly Survey of Consumer Expectations that was released on Monday.', 'Across all age groups, the uptick was most profound among 40- to 60-year-olds.', 'That’s significant because that cohort is experiencing an even lower unemployment rate than the nation overall.']",0.0105054916044833,"Investors, on the other hand, were much more convinced that won’t happen given the March CPI report.","Continued stress in navigating inflation pressures leads as the top business problem,” they added.",-0.1337400942013181,"The latest Consumer Price Index, released Wednesday, showed that annual inflation ticked up to 3.5% in March from 3.2% in February.",The main contributor to the decline was a significant fall in the share of business owners who expect their inflation-adjusted sales to be higher during the next three months compared to current levels.,2024-04-10 -Jessica Alba steps down as chief creative officer at The Honest Company,https://edition.cnn.com/2024/04/09/business/jessica-alba-steps-down-as-chief-creative-officer-honest-company/index.html," - Published - 6:20 PM EDT, Tue April 9, 2024 - ","Jessica Alba is stepping down as chief creative officer at The Honest Company, the baby products and personal care business founded by the actress in 2012. - - In a statement Tuesday, the company said Alba’s move away from her position will allow her to “shift her creative energy to new endeavors.” The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors. - - The Honest Company posted a strong fourth quarter in March. Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases. The earnings report said its diaper and baby clothing businesses performed especially well. - - The company — which went public and began trading on Nasdaq in 2021 — markets an aspirational “clean” lifestyle through its baby products and clothing, as well as skin and personal care. - - “When I created The Honest Company, I set out to change the consumer product industry and I can proudly say, we did just that,” Alba said in a statement Tuesday. “Honest has been a true labor of love for me - one that showed me what’s possible when you infuse purpose into business.”",CNN,09/04/2024,"['Jessica Alba is stepping down as chief creative officer at The Honest Company, the baby products and personal care business founded by the actress in 2012.', 'In a statement Tuesday, the company said Alba’s move away from her position will allow her to “shift her creative energy to new endeavors.”', 'The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors.', 'The Honest Company posted a strong fourth quarter in March.', 'Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases.', 'The earnings report said its diaper and baby clothing businesses performed especially well.', 'The company — which went public and began trading on Nasdaq in 2021 — markets an aspirational “clean” lifestyle through its baby products and clothing, as well as skin and personal care.', '“When I created The Honest Company, I set out to change the consumer product industry and I can proudly say, we did just that,” Alba said in a statement Tuesday. “', 'Honest has been a true labor of love for me - one that showed me what’s possible when you infuse purpose into business.”']",0.7406218711732586,"The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors.",,0.9996504386266072,"Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases.",,2024-04-10 -Tesla: Elon Musk's EV maker to settle over fatal Autopilot crash,https://www.bbc.co.uk/news/articles/c14kggkr4vro,2024-04-09T05:18:02.807Z,"Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier. The case, brought by Mr Huang's family, was scheduled to begin in the California Superior Court this week. If the trial had gone ahead, it would have brought increased scrutiny of the firm's Autopilot and Full Self-Driving technology. The terms of the settlement were not disclosed and reports have said the deal still needs to be approved by a judge. Tesla did not immediately respond to a BBC request for comment. Before the settlement, Tesla argued that Mr Huang had misused the system because he was playing a video game just before the accident. The firm has previously won trials in California by arguing that drivers involved had not followed its instructions to maintain attention while using the system. The electric vehicle (EV) maker faces a series of lawsuits over crashes related to the alleged use of its driver-assistant technology. The US National Highway Traffic Safety Administration has also been investigating some accidents involving Autopilot. For many years, Tesla has promised to produce an autonomous car but has yet to launch one. On Friday, Mr Musk said the company plans to unveil a self-driving robotaxi in August. The settlement with Mr Huang's family comes at a time when the company is battling weakening sales. Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition. Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen. Tesla's shares have lost almost a third of their value since the start of this year. ",BBC,09/04/2024,"['Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.', ""The case, brought by Mr Huang's family, was scheduled to begin in the California Superior Court this week."", ""If the trial had gone ahead, it would have brought increased scrutiny of the firm's Autopilot and Full Self-Driving technology."", 'The terms of the settlement were not disclosed and reports have said the deal still needs to be approved by a judge.', 'Tesla did not immediately respond to a BBC request for comment.', 'Before the settlement, Tesla argued that Mr Huang had misused the system because he was playing a video game just before the accident.', 'The firm has previously won trials in California by arguing that drivers involved had not followed its instructions to maintain attention while using the system.', 'The electric vehicle (EV) maker faces a series of lawsuits over crashes related to the alleged use of its driver-assistant technology.', 'The US National Highway Traffic Safety Administration has also been investigating some accidents involving Autopilot.', 'For many years, Tesla has promised to produce an autonomous car but has yet to launch one.', 'On Friday, Mr Musk said the company plans to unveil a self-driving robotaxi in August.', ""The settlement with Mr Huang's family comes at a time when the company is battling weakening sales."", 'Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.', 'Tesla has cut prices repeatedly in response to increased competition from rivals such as BYD but demand in key markets like China has fallen.', ""Tesla's shares have lost almost a third of their value since the start of this year.""]",-0.0477430980774904,"The case, brought by Mr Huang's family, was scheduled to begin in the California Superior Court this week.","Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.",-0.4115793364388602,"Electric car giant Tesla has agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.","Deliveries slid sharply in the first three months of this year as Tesla grappled with a fire at its European factory, global shipping disruption and growing competition.",2024-04-10 -Boeing hit after new whistleblower raises safety concerns,https://www.bbc.co.uk/news/business-68775413,2024-04-09T21:47:35.000Z,"Boeing is facing new pressure after a whistleblower reported safety concerns over the manufacturing of some of its planes to US regulators. Engineer Sam Salehpour accused Boeing of taking shortcuts in the construction of its 787 and 777 jets. He claimed he was ""threatened with termination"" after raising concerns with bosses. But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""The issues raised have been subject to rigorous engineering examination under [Federal Aviation Administration] oversight,"" the company said. ""This analysis has validated that these issues do not present any safety concerns and the aircraft will maintain its service life over several decades."" Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021. The whistleblower complaint, which was first reported by the New York Times, is the latest incident to focus attention on the safety of planes made by US-based Boeing, one of the world's two major producers of commercial planes. The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January. Passengers escaped serious injury but the incident has plunged the company into crisis, forcing a temporary grounding of dozens of 737 Max 9 planes, drawing regulatory probes and prompting Boeing to dramatically slow production of its planes. The company coming under intense scrutiny again led its chief executive David Calhoun to announce last month that he would step down by the end of the year. On Tuesday, attorneys for engineer Mr Salehpour said Boeing had made decisions for 787 aircraft assembly which placed stress on joints that linked up parts of the body of the jets, an issue affecting more than 1,000 planes. In a whistleblower complaint filed with the FAA in January, he alleged the method could reduce the lifespan of the plane. ""These problems are the direct result of Boeing's decision in recent years to prioritize profits over safety, and a regulator in the FAA that has become too deferential to industry,"" his lawyers, Debra Katz and Lisa Banks, said in a statement. The attorneys added Mr Salehpour had been transferred to work on the 777 plane after he raised concerns. They said he had soon observed other issues in the assembly of that plane. ""He was threatened with termination, excluded from important meetings, projects, and communication, denied reasonable requests for medical leave, assigned work outside of his expertise, and effectively declared persona non grata to his colleagues,"" they said. The 787 Dreamliner is a bigger plane than the 737, often used on international flights. It has been flying commercially since 2011, but almost from the start has been the target of quality complaints. Boeing eventually slowed production and stopped deliveries for almost two years, responding to issues that had been raised. The FAA in 2022 cleared Boeing to resume deliveries. The FAA, which has increased its oversight of Boeing since the door plug blowout in January, said in a statement that it encouraged people in the aviation industry to share information. ""We thoroughly investigate all reports,"" the agency said when asked about the report. ",BBC,09/04/2024,"['Boeing is facing new pressure after a whistleblower reported safety concerns over the manufacturing of some of its planes to US regulators.', 'Engineer Sam Salehpour accused Boeing of taking shortcuts in the construction of its 787 and 777 jets.', 'He claimed he was ""threatened with termination"" after raising concerns with bosses.', 'But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""', 'The issues raised have been subject to rigorous engineering examination under [Federal Aviation Administration] oversight,"" the company said. ""', 'This analysis has validated that these issues do not present any safety concerns and the aircraft will maintain its service life over several decades.""', 'Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021.', ""The whistleblower complaint, which was first reported by the New York Times, is the latest incident to focus attention on the safety of planes made by US-based Boeing, one of the world's two major producers of commercial planes."", 'The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January.', 'Passengers escaped serious injury but the incident has plunged the company into crisis, forcing a temporary grounding of dozens of 737 Max 9 planes, drawing regulatory probes and prompting Boeing to dramatically slow production of its planes.', 'The company coming under intense scrutiny again led its chief executive David Calhoun to announce last month that he would step down by the end of the year.', 'On Tuesday, attorneys for engineer Mr Salehpour said Boeing had made decisions for 787 aircraft assembly which placed stress on joints that linked up parts of the body of the jets, an issue affecting more than 1,000 planes.', 'In a whistleblower complaint filed with the FAA in January, he alleged the method could reduce the lifespan of the plane. ""', 'These problems are the direct result of Boeing\'s decision in recent years to prioritize profits over safety, and a regulator in the FAA that has become too deferential to industry,"" his lawyers, Debra Katz and Lisa Banks, said in a statement.', 'The attorneys added Mr Salehpour had been transferred to work on the 777 plane after he raised concerns.', 'They said he had soon observed other issues in the assembly of that plane. ""', 'He was threatened with termination, excluded from important meetings, projects, and communication, denied reasonable requests for medical leave, assigned work outside of his expertise, and effectively declared persona non grata to his colleagues,"" they said.', 'The 787 Dreamliner is a bigger plane than the 737, often used on international flights.', 'It has been flying commercially since 2011, but almost from the start has been the target of quality complaints.', 'Boeing eventually slowed production and stopped deliveries for almost two years, responding to issues that had been raised.', 'The FAA in 2022 cleared Boeing to resume deliveries.', 'The FAA, which has increased its oversight of Boeing since the door plug blowout in January, said in a statement that it encouraged people in the aviation industry to share information. ""', 'We thoroughly investigate all reports,"" the agency said when asked about the report.']",-0.087826611616349,"But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""","The company was already facing criminal investigation and other legal troubles, after an unused exit door broke off of one of its smaller 737 Max 9 planes shortly after take-off in January.",-0.5008389143382802,"But Boeing said the claims were ""inaccurate"" and added it was confident its planes were safe. ""","Shares in the plane manufacturer sank almost 2% on Tuesday after the Federal Aviation Administration (FAA) said it was investigating the claims, and the company reported it had delivered just 83 planes to customers in the first three months of the year - the smallest number since 2021.",2024-04-10 -Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html," - Published - 9:50 AM EST, Tue November 21, 2023 - ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days. - - It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators? - - OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is. - - This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried. - - But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives. - - AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker. - - But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read). - - AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.” - - Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit. - - Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs? - - One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control. - - “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step. - - So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety. - - The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-04-10 -Jamie Dimon: Bank boss warns US interest rates could rise to 8%,https://www.bbc.co.uk/news/business-68769561,2024-04-09T09:44:35.000Z,"The boss of one of the world's biggest banks has warned US interest rates could climb to 8%. Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of ""persistent inflationary pressures"". Central banks around the world have been busy raising rates in a bid to dampen rising prices. But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year. Markets are pricing in two quarter-point rate cuts in 2024. In his annual letter to shareholders, Mr Dimon said that the bank was ready for a ""very broad range"" of rates, from 2% to 8% or even higher, potentially pushed up because of high government spending and the need to curb price rises. Mr Dimon's comments come as US interest rates rest in the range of 5.25% to 5.5% - higher than they have been for more than 20 years. By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices. Mr Dimon has long warned that investors may be overly confident in their bet that interest rates will rapidly fall back to lower levels. Last year he suggested rates could hit 7%. ""All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year's letter. The US Federal Reserve will make its next decision on which way interest rates will move at the end of the month. The expectation is that it will hold rates at the current level with the first cut potentially coming in June. The European Central Bank is also expected to make its first cut in June. On Tuesday, some analysts questioned, however, whether rate cuts lie in store for the summer in the US. To date, higher borrowing costs have not been the big drag on the US economy that they were expected to be. Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace. The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts. In a speech delivered at Stanford University at the beginning of April, the Federal Reserve chair Jay Powell said: ""If the economy evolves broadly as we expect, most Federal Open Market Committee participants see it as likely to be appropriate to begin lowering the policy rate at some point this year."" Mr Dimon has been chief executive of JPMorgan Chase since the end of 2005. One year later he also became chairman and president of the bank. He is the longest-serving chief executive of a major investment bank. In his letter to shareholders, he also said that he sees the United States as being at a ""pivotal moment"" in the midst of global uncertainty. ",BBC,09/04/2024,"[""The boss of one of the world's biggest banks has warned US interest rates could climb to 8%."", 'Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of ""persistent inflationary pressures"".', 'Central banks around the world have been busy raising rates in a bid to dampen rising prices.', 'But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year.', 'Markets are pricing in two quarter-point rate cuts in 2024.', 'In his annual letter to shareholders, Mr Dimon said that the bank was ready for a ""very broad range"" of rates, from 2% to 8% or even higher, potentially pushed up because of high government spending and the need to curb price rises.', ""Mr Dimon's comments come as US interest rates rest in the range of 5.25% to 5.5% - higher than they have been for more than 20 years."", 'By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices.', 'Mr Dimon has long warned that investors may be overly confident in their bet that interest rates will rapidly fall back to lower levels.', 'Last year he suggested rates could hit 7%. ""', 'All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year\'s letter.', 'The US Federal Reserve will make its next decision on which way interest rates will move at the end of the month.', 'The expectation is that it will hold rates at the current level with the first cut potentially coming in June.', 'The European Central Bank is also expected to make its first cut in June.', 'On Tuesday, some analysts questioned, however, whether rate cuts lie in store for the summer in the US.', 'To date, higher borrowing costs have not been the big drag on the US economy that they were expected to be.', 'Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace.', 'The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts.', 'In a speech delivered at Stanford University at the beginning of April, the Federal Reserve chair Jay Powell said: ""If the economy evolves broadly as we expect, most Federal Open Market Committee participants see it as likely to be appropriate to begin lowering the policy rate at some point this year.""', 'Mr Dimon has been chief executive of JPMorgan Chase since the end of 2005.', 'One year later he also became chairman and president of the bank.', 'He is the longest-serving chief executive of a major investment bank.', 'In his letter to shareholders, he also said that he sees the United States as being at a ""pivotal moment"" in the midst of global uncertainty.']",0.041136728252818,"By making borrowing more expensive, higher interest rates encourage saving and reduce borrowing for home purchases and business investments, cooling the economy and easing the pressures pushing up prices.","Though some sectors, such as housing, have slowed sharply, the unemployment rate remains below 4% and businesses, bolstered by government and consumer spending, are still adding jobs at an unexpectedly rapid pace.",0.376718323964339,"The latest US inflation figures, are due to be published on Wednesday, with the CPI measure of inflation expected to rise to 3.4% year-on-year, up from 3.2% in February and perhaps making it harder to justify rate cuts.","All of the following factors appear to be inflationary: ongoing fiscal spending, remilitarization of the world, restructuring of global trade, capital needs of the new green economy, and possibly higher energy costs,"" Mr Dimon wrote in this year's letter.",2024-04-10 -FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html," - Updated - 8:11 PM EDT, Tue March 26, 2024 - ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity. - - The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company. - - The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13. - - The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China. - - The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier. - - When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.” - - TikTok did not immediately respond to a request for comment. - - The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill. - - The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data. - - Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees. - - TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-04-10 -Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards," - Updated - 12:10 PM EST, Wed January 10, 2024 - ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees. - - When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings. - - If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel. - - You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards. - - Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back. - - Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories. - - As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything — 1% when you buy, 1% when you pay. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards. - - Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees. - - By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption. - - Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary. - - Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. - - If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points. - - Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible. - - It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year. - - Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option. - - Here’s a look at your Citi ThankYou travel redemption options and how they work. - - Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts, international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal. - - Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points. - - If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate. - - By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach. - - Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines. - - Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: - - Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option. - - Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option. - - Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best. - - For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points: - - Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points. - - Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value. - - Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece. - - Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio. - - Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available. - - Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. - - Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything —1% when you buy, 1% when you pay.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following: Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points: Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.4187524857201869,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.",0.8707016060749689,"As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.",That’s significantly less than the value you’ll get from transfer partner redemptions.,2024-04-10 -The rise of magnets – from surgery to outer space,https://www.bbc.co.uk/news/business-68629800,2024-04-04T23:09:15.000Z,"The tiny, tweezer-like set of metal jaws was in place. Gently gripping the patient's gall bladder. But the grasping device was not physically connected to anything - it appeared to be levitating inside the person's body. In reality, the jaws were being controlled remotely by a robot arm wielding a special magnet. ""We could see the critical structures, the blood vessels,"" says Dr Matthew Kroh of the Cleveland Clinic in Ohio. It wasn't long before he had removed the troublesome gall bladder with the help of his robotic assistant. This was one of two dozen or so similar surgeries he and his team have performed in recent months using their high-tech system. ""It allows us to do a very common operation in a less invasive way,"" he says, explaining that fewer incisions are now required for procedures such as this. But there are many other emerging applications that also use carefully manufactured magnets. Permanent magnets, the kind that keep colourful souvenirs stuck to the door of your fridge, might seem a fairly mature, well-established technology. They've been used for centuries, after all. And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before. This is because, increasingly, magnets are used in all kinds of ascendant technologies - including EV motors and wind turbines. They are, therefore, crucial for electrification. However, magnets are generally made using rare earth elements, the products of dirty mining operations. And, at present, China massively dominates global permanent magnet production, with more than 90% market share. Many argue that we need cleaner and more widely distributed magnet manufacturing facilities. The future, they say, depends on it. ""My job is brilliant,"" says Matthew Swallow, technical product manager for Bunting Magnetics in the UK. ""Nobody else, I don't think, gets involved in so many things."" His firm makes magnets that are used in all kinds of systems - from cochlear implants, to emergency brakes on rollercoasters, including at Alton Towers. Bunting Magnetics has even supplied magnets to Nasa. Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved. For such magnets designed to cope with temperatures up to 200C, a grade of N35 used to be the maximum. But now N52 grade versions are commercially available. ""You can literally make the magnet 60% less massive and get the same level of performance,"" explains Mr Swallow. In an electric motor, a magnetic field helps an internal coil to spin. This might be used to drive an axle and turn the wheels of an electric car, for example. Higher grade magnets mean motors that run more efficiently and cars that weigh slightly less overall. The careful addition of a small amount of dysprosium, another rare earth element, is one way to improve a magnet's efficiency. One reason why China dominates global production of these magnets is financial incentives, says Ross Embleton, senior analyst for metals & mining - rare earths at Wood Mackenzie. Rare earth permanent magnet material is subject to a 13% VAT discount on export from the country, and provincial governments give support on energy costs, for example, which also helps buoy up magnet-making facilities. ""It's a really, really challenging industry to compete in if you're outside of China,"" says Mr Embleton. That hasn't stopped some from trying. US firm Niron Magnetics says it has managed to make good quality magnets without rare earths. Instead, they use iron and nitrogen to make iron nitride magnets. This relies on getting the iron nitride to take on a specific crystalline structure, which generates magnetic fields. Chief executive Jonathan Rowntree declines to explain his company's production techniques in detail, but he says Niron has already produced working magnets. The first of these will be used in speakers. Magnetic field strength is measured in terms of teslas, and Niron's magnets are currently at one tesla. Mr Rowntree says it should be possible to make significantly more powerful magnets, up to 2.4 teslas, with iron nitride. Alternatively, recycling magnets would also be much better for the environment compared with making new rare earth magnets from scratch. In the UK, the University of Birmingham has developed a method for extracting rare earth alloys from old electric motors and computer hard drives, for example. A spin out company, HyProMag, has now successfully extracted rare earths using the technology, and aims to begin commercial production of magnets using such material later this year. Meanwhile, US firm Noveon Magnetics says it has developed its own method for magnet recycling. When asked about the process, and the grades of magnets produced, chief commercial officer Peter Afiuny declined to go into details, except to say that a small amount of alloy is mixed with recovered material to achieve the desired result. The whole process is about 40% more efficient than traditional virgin magnet production. It can be difficult to know the quality of an old magnet from a disused consumer electronics device, however, says Mr Embleton. And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove. But gradually, as early generations of EV motors and wind turbines reach the end of their lifespans in the coming years, more magnetic material is expected to become available for recycling. ""There's a bit of a delay there waiting for that material to come back again,"" says Mr Embleton. Companies have an opportunity to perfect their recycling processes in the meantime. More technology of business Niron's targeting of the audio speakers market is interesting, says Nicola Morley at the University of Sheffield. ""It means they think they can produce them cheaply - that market has other cheap permanent magnets in it,"" she explains. Within the last decade, the development of magnet technology has really begun to accelerate, adds Prof Morley. And Mr Swallow cites other emerging applications that sound quite sci-fi - including magnets mounted on satellites to scoop up space debris orbiting Earth. Dr Kroh says he is looking forward to even more sophisticated magnets that will make other surgeries less invasive than before. Chest surgery involving the lungs, or endoscopies, for instance, could one day be performed with the help of such technology. ""It's almost limitless,"" he says. ""This is just the beginning."" ",BBC,04/04/2024,"['The tiny, tweezer-like set of metal jaws was in place.', ""Gently gripping the patient's gall bladder."", ""But the grasping device was not physically connected to anything - it appeared to be levitating inside the person's body."", 'In reality, the jaws were being controlled remotely by a robot arm wielding a special magnet. ""', 'We could see the critical structures, the blood vessels,"" says Dr Matthew Kroh of the Cleveland Clinic in Ohio.', ""It wasn't long before he had removed the troublesome gall bladder with the help of his robotic assistant."", 'This was one of two dozen or so similar surgeries he and his team have performed in recent months using their high-tech system. ""', 'It allows us to do a very common operation in a less invasive way,"" he says, explaining that fewer incisions are now required for procedures such as this.', 'But there are many other emerging applications that also use carefully manufactured magnets.', 'Permanent magnets, the kind that keep colourful souvenirs stuck to the door of your fridge, might seem a fairly mature, well-established technology.', ""They've been used for centuries, after all."", 'And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before.', 'This is because, increasingly, magnets are used in all kinds of ascendant technologies - including EV motors and wind turbines.', 'They are, therefore, crucial for electrification.', 'However, magnets are generally made using rare earth elements, the products of dirty mining operations.', 'And, at present, China massively dominates global permanent magnet production, with more than 90% market share.', 'Many argue that we need cleaner and more widely distributed magnet manufacturing facilities.', 'The future, they say, depends on it. ""', 'My job is brilliant,"" says Matthew Swallow, technical product manager for Bunting Magnetics in the UK. ""', 'Nobody else, I don\'t think, gets involved in so many things.""', 'His firm makes magnets that are used in all kinds of systems - from cochlear implants, to emergency brakes on rollercoasters, including at Alton Towers.', 'Bunting Magnetics has even supplied magnets to Nasa.', 'Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved.', 'For such magnets designed to cope with temperatures up to 200C, a grade of N35 used to be the maximum.', 'But now N52 grade versions are commercially available. ""', 'You can literally make the magnet 60% less massive and get the same level of performance,"" explains Mr Swallow.', 'In an electric motor, a magnetic field helps an internal coil to spin.', 'This might be used to drive an axle and turn the wheels of an electric car, for example.', 'Higher grade magnets mean motors that run more efficiently and cars that weigh slightly less overall.', ""The careful addition of a small amount of dysprosium, another rare earth element, is one way to improve a magnet's efficiency."", 'One reason why China dominates global production of these magnets is financial incentives, says Ross Embleton, senior analyst for metals & mining - rare earths at Wood Mackenzie.', 'Rare earth permanent magnet material is subject to a 13% VAT discount on export from the country, and provincial governments give support on energy costs, for example, which also helps buoy up magnet-making facilities. ""', 'It\'s a really, really challenging industry to compete in if you\'re outside of China,"" says Mr Embleton.', ""That hasn't stopped some from trying."", 'US firm Niron Magnetics says it has managed to make good quality magnets without rare earths.', 'Instead, they use iron and nitrogen to make iron nitride magnets.', 'This relies on getting the iron nitride to take on a specific crystalline structure, which generates magnetic fields.', ""Chief executive Jonathan Rowntree declines to explain his company's production techniques in detail, but he says Niron has already produced working magnets."", 'The first of these will be used in speakers.', ""Magnetic field strength is measured in terms of teslas, and Niron's magnets are currently at one tesla."", 'Mr Rowntree says it should be possible to make significantly more powerful magnets, up to 2.4 teslas, with iron nitride.', 'Alternatively, recycling magnets would also be much better for the environment compared with making new rare earth magnets from scratch.', 'In the UK, the University of Birmingham has developed a method for extracting rare earth alloys from old electric motors and computer hard drives, for example.', 'A spin out company, HyProMag, has now successfully extracted rare earths using the technology, and aims to begin commercial production of magnets using such material later this year.', 'Meanwhile, US firm Noveon Magnetics says it has developed its own method for magnet recycling.', 'When asked about the process, and the grades of magnets produced, chief commercial officer Peter Afiuny declined to go into details, except to say that a small amount of alloy is mixed with recovered material to achieve the desired result.', 'The whole process is about 40% more efficient than traditional virgin magnet production.', 'It can be difficult to know the quality of an old magnet from a disused consumer electronics device, however, says Mr Embleton.', 'And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove.', 'But gradually, as early generations of EV motors and wind turbines reach the end of their lifespans in the coming years, more magnetic material is expected to become available for recycling. ""', 'There\'s a bit of a delay there waiting for that material to come back again,"" says Mr Embleton.', 'Companies have an opportunity to perfect their recycling processes in the meantime.', 'More technology of business Niron\'s targeting of the audio speakers market is interesting, says Nicola Morley at the University of Sheffield. ""', 'It means they think they can produce them cheaply - that market has other cheap permanent magnets in it,"" she explains.', 'Within the last decade, the development of magnet technology has really begun to accelerate, adds Prof Morley.', 'And Mr Swallow cites other emerging applications that sound quite sci-fi - including magnets mounted on satellites to scoop up space debris orbiting Earth.', 'Dr Kroh says he is looking forward to even more sophisticated magnets that will make other surgeries less invasive than before.', 'Chest surgery involving the lungs, or endoscopies, for instance, could one day be performed with the help of such technology. ""', 'It\'s almost limitless,"" he says. ""', 'This is just the beginning.""']",0.1639147133339751,"And yet, today, researchers and companies are expending huge efforts on making magnets more powerful and efficient than ever before.","And sometimes magnets are stuck into products with hard epoxy resins, making them tricky to remove.",0.988849639892578,"Mr Swallow says that, even during the past 10 years or so, the availability of higher grade magnets made with the rare earth element neodymium has improved.",,2024-04-10 -Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html," - Published - 1:17 PM EDT, Tue March 26, 2024 - ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say. - - On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform. - - Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights. - - Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire. - - The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories. - - And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform. - - “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism. - - “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said. - - X said it plans to appeal Breyer’s decision. - - In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits. - - He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. - - This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings. - - The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!” - - As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics. - - “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.” - - A representative for X did not immediately respond to a request for comment about Carusone’s claims. - - Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall. - - Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform. - - The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit. - - Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University. - - “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.” - - “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.” - - Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face. - - “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press. - - Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X. This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-04-10 -A ticket sold in Oregon has won the nearly $1.33 billion Powerball jackpot,https://edition.cnn.com/2024/04/07/business/powerball-jackpot-saturday/index.html," - Updated - 6:48 AM EDT, Sun April 7, 2024 - ","A Powerball ticket sold in Oregon has won the nearly $1.33 billion jackpot – the fourth-largest jackpot in the history of the game, according to Powerball. - - Saturday’s winning numbers are 44, 27, 52, 22, 69 and Powerball 9. - - A single ticket sold in Oregon matched all six numbers drawn to win the grand prize worth $1.326 billion. The lucky ticket holder will have the choice between an annuitized prize or a lump sum payment of $621 million, both before taxes, according to Powerball. - - Final ticket sales pushed the jackpot beyond its earlier estimate of $1.3 billion. It’s now the eighth largest among US lottery jackpot games, Powerball said in a news release. - - Others also won big this weekend. Seven tickets matched all five white balls to win $1 million prizes in Arizona, Delaware, Florida, Iowa, Massachusetts, Michigan and Wyoming, Powerball said. - - Saturday’s drawing was scheduled to take place at 10:59 p.m. ET but was delayed for more than three hours. Powerball said one lottery needed additional time to complete the required pre-draw procedures before the drawing could take place. - - This has been one of the game’s longest streaks, according to Powerball. The jackpot was previously won on New Year’s Day when a ticket in Michigan scored an $842.4 million jackpot. - - The largest Powerball jackpot – and the largest US lottery prize – ever won was $2.04 billion by a ticket purchased in California in November 2022, according to the lottery. Ranking second through third are $1.765 billion (one ticket in California, 2023); $1.586 billion (three tickets, 2016). - - Winning the Powerball jackpot means a ticket matched all five white balls plus the red Powerball. The odds of winning any prize in a Powerball drawing are 1 in 24.9, and the odds of winning the jackpot are 1 in 292.2 million, according to the lottery. - - Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico and the US Virgin Islands. Drawings are held Mondays, Wednesdays and Saturdays at 10:59 p.m. ET in Tallahassee, Florida.",CNN,07/04/2024,"['A Powerball ticket sold in Oregon has won the nearly $1.33 billion jackpot – the fourth-largest jackpot in the history of the game, according to Powerball.', 'Saturday’s winning numbers are 44, 27, 52, 22, 69 and Powerball 9.', 'A single ticket sold in Oregon matched all six numbers drawn to win the grand prize worth $1.326 billion.', 'The lucky ticket holder will have the choice between an annuitized prize or a lump sum payment of $621 million, both before taxes, according to Powerball.', 'Final ticket sales pushed the jackpot beyond its earlier estimate of $1.3 billion.', 'It’s now the eighth largest among US lottery jackpot games, Powerball said in a news release.', 'Others also won big this weekend.', 'Seven tickets matched all five white balls to win $1 million prizes in Arizona, Delaware, Florida, Iowa, Massachusetts, Michigan and Wyoming, Powerball said.', 'Saturday’s drawing was scheduled to take place at 10:59 p.m. ET but was delayed for more than three hours.', 'Powerball said one lottery needed additional time to complete the required pre-draw procedures before the drawing could take place.', 'This has been one of the game’s longest streaks, according to Powerball.', 'The jackpot was previously won on New Year’s Day when a ticket in Michigan scored an $842.4 million jackpot.', 'The largest Powerball jackpot – and the largest US lottery prize – ever won was$2.04 billionby a ticket purchased in California in November 2022, according to the lottery.', 'Ranking second through third are $1.765 billion (one ticket in California, 2023); $1.586 billion (three tickets, 2016).', 'Winning the Powerball jackpot means a ticket matched all five white balls plus the red Powerball.', 'The odds of winning any prize in a Powerball drawing are 1 in 24.9, and the odds of winning the jackpot are 1 in 292.2 million, according to the lottery.', 'Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico and the US Virgin Islands.', 'Drawings are held Mondays, Wednesdays and Saturdays at 10:59 p.m. ET in Tallahassee, Florida.']",0.3807590771825594,A single ticket sold in Oregon matched all six numbers drawn to win the grand prize worth $1.326 billion.,Saturday’s drawing was scheduled to take place at 10:59 p.m. ET but was delayed for more than three hours.,0.9926169812679292,"A Powerball ticket sold in Oregon has won the nearly $1.33 billion jackpot – the fourth-largest jackpot in the history of the game, according to Powerball.",,2024-04-10 -Everyone got duped by Sam Bankman-Fried's big gamble,https://www.bbc.co.uk/news/world-us-canada-67302950,2023-11-03T11:14:42.000Z,"Sam Bankman-Fried has been sentenced to 25 years for stealing billions of dollars from customers of his cryptocurrency exchange FTX. It's a spectacular downfall for Silicon Valley's dishevelled wunderkind, who rubbed elbows with celebrities like Gisele Bündchen and Tom Brady. On 7 November 2022, as his empire began its dizzying, irrevocable collapse, Bankman-Fried did what he always did: he weighed the odds. Earlier that day, a rival executive had expressed concerns on social media about the finances of Bankman-Fried's crypto exchange, spooking customers into a multi-billion dollar bank run. In an online chat, Bankman-Fried consulted two of his top deputies. ""To be clear you think the tweet is net bad?"" he asked them. They considered their options. Was it possible that his rival would walk back the criticism? Was it probable that that would stem the bleeding? ""Fairly unlikely,"" Bankman-Fried wrote. Bankman-Fried faces decades in prison after guilty verdict It was the kind of calculus Bankman-Fried had been making for years, the quick equations friends said he used in nearly every situation - mulling a break-up, assessing a risky trade. For a while, that approach seemed to work. As the boy-wonder of crypto, Bankman-Fried got rich faster than almost anyone in history, amassing an estimated $26bn in personal wealth, countless magazine covers and sweeping political influence. The flameout was even faster. The tweet was, as discussed, net bad. Billions gushed out of the platform in less than five days. When it was all over, more than $8bn in customer funds were missing and the company was bankrupt. Five weeks after that, prosecutors in Manhattan charged Bankman-Fried, who had already resigned, with several financial offences including wire fraud, securities fraud, commodities fraud and money laundering. Over four weeks of trial, two contradictory stories emerged. In one, the former mogul was a brilliant but hapless savant, whose mistakes as CEO allowed for massive fraud to be carried out under his nose. In the other, supported by former members of his inner circle, Bankman-Fried syphoned billions of dollars of customer money, banking on the odds he'd never be caught. Both tellings reveal how tightly the fortunes of FTX were tied to the image of its founder, whose oddball magnetism drew former presidents, celebrities, and corporate titans into his orbit and his multi-billion dollar gamble. Bankman-Fried wasn't shy about it: he wanted to get rich. But, to hear him tell it, he wanted to make all those billions just to give them away. An overachieving child born to two overachieving parents, Bankman-Fried and his younger brother were taught at an early age about utilitarianism, a doctrine holding that the most ethical choice is the one that does the most good for the most people. As a student at MIT, Bankman-Fried went to a talk by Will MacAskill, a 25-year-old doctoral student at Oxford and founder of effective altruism, a utilitarian-tinged philosophy that uses maths to figure out how individuals can maximise their philanthropic impact. To do the most good, Mr MacAskill told him, Bankman-Fried could take his considerable intellect to lucrative Wall Street, and donate most of his salary to important causes. Bankman-Fried was sold. In 2014, he took his degree straight to Jane Street, a high-frequency trading firm, and reportedly gave away about half of his income to worthy causes. Three years later, Bankman-Fried found an industry that could make him even richer than typical trading: crypto. At the age of 25, he founded Alameda Research, a crypto investment firm, after noticing that prices of Bitcoin varied considerably in different countries. The arbitrage trading earned Alameda a reported $20m in just three weeks. In 2019, he founded FTX, then a Hong Kong-based crypto exchange for international investors. Like Elizabeth Holmes - another Silicon Valley billionaire whose star came crashing down - he was able to convince big name investors to lend the company not only cash, but credibility. Within months, daily trading volume on FTX had reached $300m. By 2021, he had debuted on the Forbes 400, the magazine's annual list of the richest Americans, with a fortune of $22.5bn. Some have attributed his remarkable success to an unusually high tolerance for risk, a willingness to chance devastating consequences for a big reward. ""He would be happy to flip a coin, if it came up tails and the world was destroyed,"" his ex-girlfriend and former CEO of Alameda Research Caroline Ellison said at trial. ""As long as if it came up heads the world would be more than twice as good."" According to internal accounts, life at FTX could sometimes resemble a grown-up maths camp, filled with a selection of brilliant misfits and led by the perpetually rumpled Bankman-Fried. ""He was super disorganised, he was always in cargo shorts, he was always sloppy,"" a former FTX employee told the BBC. ""He would walk around the office in bare feet."" Those at the top were a tight-knit group who sometimes blindly listened to Sam, the employee said. ""It could be cult-like."" Natalie Tien, who handled public relations and Bankman-Fried's schedule at FTX for more than two years, said he was charismatic to the point that the company sometimes felt ""toxic"". ""We just trusted him 100%,"" she told the BBC. ""To a degree that we kind of worried [about] speaking up for ourselves."" It wasn't only people inside the company that were enthralled. Appearing side-by-side with Bill Clinton, Tony Blair, Gisele Bundchen and Katy Perry in shorts and ill-fitting T-shirts, he became an ambassador of sorts for the crypto industry as whole, just as it began to reach new heights. Part of the mystique was that Bankman-Fried seemed to eschew the level of luxury his earnings could have afforded. He didn't own a yacht, his defence attorneys said at trial. He drove a beat-up Toyota Corolla. Meanwhile, he testified before Congress arguing for more regulation of the crypto market, setting him apart from many of his peers. ""In a weird way, he seemed kind of like the grown-up in the crypto world,"" said Zeke Faux, an investigative journalist and author of Number Go Up: Inside Crypto's Wild Rise and Staggering Fall. And, of course, there was his stated ultimate objective: Bankman-Fried was going to give it all away. ""It was a great story, everybody loved it,"" said Mr Faux. ""People loved it in Congress, the VCs loved it, the bankers loved it."" ""The problem with his story is that it was not true,"" he said. In September of 2022, the venture capital firm Sequoia Capital ran a breathless profile of Bankman-Fried in its magazine. At the time, FTX was valued at $32bn. In the since-deleted piece entitled FTX's SBF Has a Savior Complex, and Maybe You Should Too, author Adam Fisher described Bankman-Fried's efforts to maximise his wealth in order to maximise his impact on the world. It involved a risk, Fisher wrote. ""But the math couldn't be clearer."" ""To do the most good for the world,"" he said, ""SBF needed to find a path on which he'd be a coin toss away from going totally bust."" A month-and-a-half later, industry news site CoinDesk published a bombshell report alleging that Alameda had over half its $15bn portfolio in FTT - the crypto token printed by FTX. The disclosure raised questions about the actual value of Alameda's holdings, and the apparent conflict of interest between Alameda and FTX - ostensibly independent companies. Then came that announcement on 6 November from industry rival, Binance CEO Changpeng Zhao, known as CZ, who said he would dump his own sizable stores of FTT. On 11 November, the implosion of FTX was complete, the story of crypto's prodigy gone with it. For some observers of the crypto boom, and Bankman-Fried's meteoric rise to power, the fall was not unexpected. As FTX rose to prominence, the actor Ben McKenzie, best known for his role on the television show the OC, emerged as one of the country's most vocal crypto sceptics. In July 2022, Bankman-Fried agreed to sit down for an interview with Mr McKenzie for a book the actor was writing, titled Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud. In a cramped Manhattan hotel room, in an encounter that Mr McKenzie described as ""probably the strangest hour of my life"", Bankman-Fried tried to pitch the actor on crypto - and Sam Bankman-Fried - as a force for good in the world. ""I think he marketed himself to me as a version of his public persona, which at the time was the California wunderkind, billionaire philanthropist,"" Mr McKenzie said. It was an image that even Mr McKenzie had bought into, to an extent, he said. Until they began talking, that is. ""He had trouble just giving me straight answers to basic questions, one of which was, what does crypto currency do?"" the actor said. Over four weeks of trial in Manhattan, Bankman-Fried's attorneys painted their client as a math nerd who was overwhelmed by his expanding empire. On the stand, now in a suit, with his hair cut short, Bankman-Fried directed some of the blame at Ms Ellison, who had pleaded guilty to fraud, for failing to ""hedge"" bets to better protect Alameda from a downturn in the market, as he had instructed her to do. The prosecution, in turn, painted Bankman-Fried as someone whose boundless aspiration went hand-in-hand with a hubris that led Bankman-Fried to play the odds with his company. ""The defendant was gambling with customer money,"" prosecutor Nicolas Roos argued. Bankman-Fried's courtroom downfall was aided by former members of his inner circle, including Ms Ellison, who acted as chief executive of Alameda, as well as college roommates Adam Yedida and Gary Wang, and Nishad Singh, a childhood friend of Bankman-Fried's younger brother. They testified that while promising to safeguard customer funds and clean up the industry, Bankman-Fried was directing them to commit fraud, opening up a back door between Alameda and FTX so he could use FTX as a personal piggybank. The money fuelled his rise, as he splashed out on property, billions in investments and some $100m in political donations - not to mention helping to cover billions in debts owed by Alameda. His physical appearance, too, was contrived, Ms Ellison testified - his messy hair and cheap car deemed ""better for his image"", because it made him look more authentic than a typical trader. But that down-to-earth image belied his intense ambition, she said. ""He thought there was a 5% chance he would become president someday,"" Ms Ellison said at trial. ""Of the United States."" While many have watched the trial as a sort of comeuppance, former FTX employee Natalie Tien has looked to it for closure, and is one of the few former employees to attend the trial regularly. On the one hand, it was a relief to realise that her own doubts and questions about some things - like extravagant spending on celebrity sponsorships - had been justified. The last time she communicated with her former boss, in December 2022, he had just been released on bail and sent her a music video of Eminem, rapping ""Without Me"" to celebrate. But the 33-year-old also felt some parts of the story - especially around his schedule and his use of private jets - were being taken ""out of context"". ""He did lie and he took the money, yes, but I don't think it's because he was greedy,"" she said. ""Because I actually saw him every day wearing crappy old T-shirts with no shoes and driving a shitty car."" ""It was not an act,"" she said. Bankman-Fried now faces up to 110 years in prison, and an indelible reputation as one of the greatest fraudsters in US history. Lawyers working on the bankruptcy case have said they have recovered more than $7bn in missing money. ""I think it says more about us than it does about him,"" Mr McKenzie said. ""He got so far, I think, in many ways because of his lineage, because he is the son of Stanford professors, because he did go to MIT, because he worked on Wall Street. The myth of Sam Bankman-Fried grew in relation to the myth of crypto itself, right?"" You can watch Panorama's The Downfall of the Crypto King on BBC iPlayer (UK only) With additional reporting from James Clayton ",BBC,03/11/2023,"['Sam Bankman-Fried has been sentenced to 25 years for stealing billions of dollars from customers of his cryptocurrency exchange FTX.', ""It's a spectacular downfall for Silicon Valley's dishevelled wunderkind, who rubbed elbows with celebrities like Gisele Bündchen and Tom Brady."", 'On 7 November 2022, as his empire began its dizzying, irrevocable collapse, Bankman-Fried did what he always did: he weighed the odds.', ""Earlier that day, a rival executive had expressed concerns on social media about the finances of Bankman-Fried's crypto exchange, spooking customers into a multi-billion dollar bank run."", 'In an online chat, Bankman-Fried consulted two of his top deputies. ""', 'To be clear you think the tweet is net bad?""', 'he asked them.', 'They considered their options.', 'Was it possible that his rival would walk back the criticism?', 'Was it probable that that would stem the bleeding? ""', 'Fairly unlikely,"" Bankman-Fried wrote.', 'Bankman-Fried faces decades in prison after guilty verdict It was the kind of calculus Bankman-Fried had been making for years, the quick equations friends said he used in nearly every situation - mulling a break-up, assessing a risky trade.', 'For a while, that approach seemed to work.', 'As the boy-wonder of crypto, Bankman-Fried got rich faster than almost anyone in history, amassing an estimated $26bn in personal wealth, countless magazine covers and sweeping political influence.', 'The flameout was even faster.', 'The tweet was, as discussed, net bad.', 'Billions gushed out of the platform in less than five days.', 'When it was all over, more than $8bn in customer funds were missing and the company was bankrupt.', 'Five weeks after that, prosecutors in Manhattan charged Bankman-Fried, who had already resigned, with several financial offences including wire fraud, securities fraud, commodities fraud and money laundering.', 'Over four weeks of trial, two contradictory stories emerged.', 'In one, the former mogul was a brilliant but hapless savant, whose mistakes as CEO allowed for massive fraud to be carried out under his nose.', ""In the other, supported by former members of his inner circle, Bankman-Fried syphoned billions of dollars of customer money, banking on the odds he'd never be caught."", 'Both tellings reveal how tightly the fortunes of FTX were tied to the image of its founder, whose oddball magnetism drew former presidents, celebrities, and corporate titans into his orbit and his multi-billion dollar gamble.', ""Bankman-Fried wasn't shy about it: he wanted to get rich."", 'But, to hear him tell it, he wanted to make all those billions just to give them away.', 'An overachieving child born to two overachieving parents, Bankman-Fried and his younger brother were taught at an early age about utilitarianism, a doctrine holding that the most ethical choice is the one that does the most good for the most people.', 'As a student at MIT, Bankman-Fried went to a talk by Will MacAskill, a 25-year-old doctoral student at Oxford and founder of effective altruism, a utilitarian-tinged philosophy that uses maths to figure out how individuals can maximise their philanthropic impact.', 'To do the most good, Mr MacAskill told him, Bankman-Fried could take his considerable intellect to lucrative Wall Street, and donate most of his salary to important causes.', 'Bankman-Fried was sold.', 'In 2014, he took his degree straight to Jane Street, a high-frequency trading firm, and reportedly gave away about half of his income to worthy causes.', 'Three years later, Bankman-Fried found an industry that could make him even richer than typical trading: crypto.', 'At the age of 25, he founded Alameda Research, a crypto investment firm, after noticing that prices of Bitcoin varied considerably in different countries.', 'The arbitrage trading earned Alameda a reported $20m in just three weeks.', 'In 2019, he founded FTX, then a Hong Kong-based crypto exchange for international investors.', 'Like Elizabeth Holmes - another Silicon Valley billionaire whose star came crashing down - he was able to convince big name investors to lend the company not only cash, but credibility.', ""Within months, daily trading volume on FTX had reached $300m. By 2021, he had debuted on the Forbes 400, the magazine's annual list of the richest Americans, with a fortune of $22.5bn."", 'Some have attributed his remarkable success to an unusually high tolerance for risk, a willingness to chance devastating consequences for a big reward. ""', 'He would be happy to flip a coin, if it came up tails and the world was destroyed,"" his ex-girlfriend and former CEO of Alameda Research Caroline Ellison said at trial. ""', 'As long as if it came up heads the world would be more than twice as good.""', 'According to internal accounts, life at FTX could sometimes resemble a grown-up maths camp, filled with a selection of brilliant misfits and led by the perpetually rumpled Bankman-Fried. ""', 'He was super disorganised, he was always in cargo shorts, he was always sloppy,"" a former FTX employee told the BBC. ""', 'He would walk around the office in bare feet.""', 'Those at the top were a tight-knit group who sometimes blindly listened to Sam, the employee said. ""', 'It could be cult-like.""', 'Natalie Tien, who handled public relations and Bankman-Fried\'s schedule at FTX for more than two years, said he was charismatic to the point that the company sometimes felt ""toxic"". ""', 'We just trusted him 100%,"" she told the BBC. ""', 'To a degree that we kind of worried [about] speaking up for ourselves.""', ""It wasn't only people inside the company that were enthralled."", 'Appearing side-by-side with Bill Clinton, Tony Blair, Gisele Bundchen and Katy Perry in shorts and ill-fitting T-shirts, he became an ambassador of sorts for the crypto industry as whole, just as it began to reach new heights.', 'Part of the mystique was that Bankman-Fried seemed to eschew the level of luxury his earnings could have afforded.', ""He didn't own a yacht, his defence attorneys said at trial."", 'He drove a beat-up Toyota Corolla.', 'Meanwhile, he testified before Congress arguing for more regulation of the crypto market, setting him apart from many of his peers. ""', 'In a weird way, he seemed kind of like the grown-up in the crypto world,"" said Zeke Faux, an investigative journalist and author of Number Go Up: Inside Crypto\'s Wild Rise and Staggering Fall.', 'And, of course, there was his stated ultimate objective: Bankman-Fried was going to give it all away. ""', 'It was a great story, everybody loved it,"" said Mr Faux. ""', 'People loved it in Congress, the VCs loved it, the bankers loved it."" ""', 'The problem with his story is that it was not true,"" he said.', 'In September of 2022, the venture capital firm Sequoia Capital ran a breathless profile of Bankman-Fried in its magazine.', 'At the time, FTX was valued at $32bn.', ""In the since-deleted piece entitled FTX's SBF Has a Savior Complex, and Maybe You Should Too, author Adam Fisher described Bankman-Fried's efforts to maximise his wealth in order to maximise his impact on the world."", 'It involved a risk, Fisher wrote. ""', 'But the math couldn\'t be clearer."" ""', 'To do the most good for the world,"" he said, ""SBF needed to find a path on which he\'d be a coin toss away from going totally bust.""', 'A month-and-a-half later, industry news site CoinDesk published a bombshell report alleging that Alameda had over half its $15bn portfolio in FTT - the crypto token printed by FTX.', ""The disclosure raised questions about the actual value of Alameda's holdings, and the apparent conflict of interest between Alameda and FTX - ostensibly independent companies."", 'Then came that announcement on 6 November from industry rival, Binance CEO Changpeng Zhao, known as CZ, who said he would dump his own sizable stores of FTT.', ""On 11 November, the implosion of FTX was complete, the story of crypto's prodigy gone with it."", ""For some observers of the crypto boom, and Bankman-Fried's meteoric rise to power, the fall was not unexpected."", ""As FTX rose to prominence, the actor Ben McKenzie, best known for his role on the television show the OC, emerged as one of the country's most vocal crypto sceptics."", 'In July 2022, Bankman-Fried agreed to sit down for an interview with Mr McKenzie for a book the actor was writing, titled Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud.', 'In a cramped Manhattan hotel room, in an encounter that Mr McKenzie described as ""probably the strangest hour of my life"", Bankman-Fried tried to pitch the actor on crypto - and Sam Bankman-Fried - as a force for good in the world. ""', 'I think he marketed himself to me as a version of his public persona, which at the time was the California wunderkind, billionaire philanthropist,"" Mr McKenzie said.', 'It was an image that even Mr McKenzie had bought into, to an extent, he said.', 'Until they began talking, that is. ""', 'He had trouble just giving me straight answers to basic questions, one of which was, what does crypto currency do?""', 'the actor said.', ""Over four weeks of trial in Manhattan, Bankman-Fried's attorneys painted their client as a math nerd who was overwhelmed by his expanding empire."", 'On the stand, now in a suit, with his hair cut short, Bankman-Fried directed some of the blame at Ms Ellison, who had pleaded guilty to fraud, for failing to ""hedge"" bets to better protect Alameda from a downturn in the market, as he had instructed her to do.', 'The prosecution, in turn, painted Bankman-Fried as someone whose boundless aspiration went hand-in-hand with a hubris that led Bankman-Fried to play the odds with his company. ""', 'The defendant was gambling with customer money,"" prosecutor Nicolas Roos argued.', ""Bankman-Fried's courtroom downfall was aided by former members of his inner circle, including Ms Ellison, who acted as chief executive of Alameda, as well as college roommates Adam Yedida and Gary Wang, and Nishad Singh, a childhood friend of Bankman-Fried's younger brother."", 'They testified that while promising to safeguard customer funds and clean up the industry, Bankman-Fried was directing them to commit fraud, opening up a back door between Alameda and FTX so he could use FTX as a personal piggybank.', 'The money fuelled his rise, as he splashed out on property, billions in investments and some $100m in political donations - not to mention helping to cover billions in debts owed by Alameda.', 'His physical appearance, too, was contrived, Ms Ellison testified - his messy hair and cheap car deemed ""better for his image"", because it made him look more authentic than a typical trader.', 'But that down-to-earth image belied his intense ambition, she said. ""', 'He thought there was a 5% chance he would become president someday,"" Ms Ellison said at trial. ""', 'Of the United States.""', 'While many have watched the trial as a sort of comeuppance, former FTX employee Natalie Tien has looked to it for closure, and is one of the few former employees to attend the trial regularly.', 'On the one hand, it was a relief to realise that her own doubts and questions about some things - like extravagant spending on celebrity sponsorships - had been justified.', 'The last time she communicated with her former boss, in December 2022, he had just been released on bail and sent her a music video of Eminem, rapping ""Without Me"" to celebrate.', 'But the 33-year-old also felt some parts of the story - especially around his schedule and his use of private jets - were being taken ""out of context"". ""', 'He did lie and he took the money, yes, but I don\'t think it\'s because he was greedy,"" she said. ""', 'Because I actually saw him every day wearing crappy old T-shirts with no shoes and driving a shitty car."" ""', 'It was not an act,"" she said.', 'Bankman-Fried now faces up to 110 years in prison, and an indelible reputation as one of the greatest fraudsters in US history.', 'Lawyers working on the bankruptcy case have said they have recovered more than $7bn in missing money. ""', 'I think it says more about us than it does about him,"" Mr McKenzie said. ""', 'He got so far, I think, in many ways because of his lineage, because he is the son of Stanford professors, because he did go to MIT, because he worked on Wall Street.', 'The myth of Sam Bankman-Fried grew in relation to the myth of crypto itself, right?""', ""You can watch Panorama's The Downfall of the Crypto King on BBC iPlayer (UK only) With additional reporting from James Clayton""]",0.0933476610366481,"People loved it in Congress, the VCs loved it, the bankers loved it."" ""","Five weeks after that, prosecutors in Manhattan charged Bankman-Fried, who had already resigned, with several financial offences including wire fraud, securities fraud, commodities fraud and money laundering.",-0.0221979083686039,"Like Elizabeth Holmes - another Silicon Valley billionaire whose star came crashing down - he was able to convince big name investors to lend the company not only cash, but credibility.","It's a spectacular downfall for Silicon Valley's dishevelled wunderkind, who rubbed elbows with celebrities like Gisele Bündchen and Tom Brady.",2024-04-10 -Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html," - Updated - 2:20 PM EDT, Tue March 26, 2024 - ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements. - - The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14. - - Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. - - As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race. - - Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images. - - In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-04-10 -UK passport: How much does it cost to get or renew and what is the 10-year rule?,https://www.bbc.co.uk/news/business-68675348,2024-03-28T09:28:04.000Z,"The price of a getting or renewing a UK passport is going up on Thursday. Meanwhile, UK holidaymakers travelling to the EU are being warned not to get caught out by the ""10-year rule"". It currently costs £82.50 to renew or replace your passport if you apply online and £93 if you fill in a paper form. A child's passport costs £53.50 if you apply online, or £64 if you apply by post. It costs more if you apply from abroad, or if you require a passport urgently. Passports are free for people born on or before 2 September 1929. But passport fees are going up from Thursday 11 April. A standard online application for an adult will cost £88.50, or £57.50 for a child. Postal applications will cost £100 for adults or £69 for children. The increased fees apply to both new passport applications and renewals. You must renew your passport before you travel if either: How much time you need on your passport depends on where you are going. You can check entry requirements for individual countries on the UK government's website. You can renew online at HM Passport Office or by filling in a paper application from certain Post Offices. You'll need your old passport and any valid passports you hold from a different country. For online applications, you'll also need a digital photo that meets specific requirements. For paper applications, you need two identical printed photos. The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details. It should take up to three weeks to renew a passport in the UK, but it can take longer during periods of high demand, such as before school holidays. To get a passport issued urgently in the UK, you can book an appointment at your nearest passport office, subject to availability. It then takes up to a week to be issued. You can get more information on the Passport Office website or you can call the helpline on 0300 222 0000. The line is open 08:00 to 20:00, Monday to Friday, and 09:00 to 17:30 on Saturday, Sunday and UK bank holidays. Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel. UK travellers used to be able to carry up to nine months left on an old passport over to a new one. This meant that a passport could be valid for more than 10 years. But the rules changed after Brexit, and the majority of EU countries no longer accept British passports that were issued more than 10 years before the date of travel. This is known as the ""10-year rule"". To enter those countries now, your UK passport must: If your passport does not meet these requirements, you will be refused entry. The rules apply in all 27 EU countries, except Ireland, which has its own separate travel arrangements with the UK. They also apply to passengers traveling to Iceland, Norway and Liechtenstein - which are part of the European Economic Area (EEA) - and Switzerland. ",BBC,28/03/2024,"['The price of a getting or renewing a UK passport is going up on Thursday.', 'Meanwhile, UK holidaymakers travelling to the EU are being warned not to get caught out by the ""10-year rule"".', 'It currently costs £82.50 to renew or replace your passport if you apply online and £93 if you fill in a paper form.', ""A child's passport costs £53.50 if you apply online, or £64 if you apply by post."", 'It costs more if you apply from abroad, or if you require a passport urgently.', 'Passports are free for people born on or before 2 September 1929.', 'But passport fees are going up from Thursday 11 April.', 'A standard online application for an adult will cost £88.50, or £57.50 for a child.', 'Postal applications will cost £100 for adults or £69 for children.', 'The increased fees apply to both new passport applications and renewals.', 'You must renew your passport before you travel if either: How much time you need on your passport depends on where you are going.', ""You can check entry requirements for individual countries on the UK government's website."", 'You can renew online at HM Passport Office or by filling in a paper application from certain Post Offices.', ""You'll need your old passport and any valid passports you hold from a different country."", ""For online applications, you'll also need a digital photo that meets specific requirements."", 'For paper applications, you need two identical printed photos.', 'The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details.', 'It should take up to three weeks to renew a passport in the UK, but it can take longer during periods of high demand, such as before school holidays.', 'To get a passport issued urgently in the UK, you can book an appointment at your nearest passport office, subject to availability.', 'It then takes up to a week to be issued.', 'You can get more information on the Passport Office website or you can call the helpline on 0300 222 0000.', 'The line is open 08:00 to 20:00, Monday to Friday, and 09:00 to 17:30 on Saturday, Sunday and UK bank holidays.', 'Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel.', 'UK travellers used to be able to carry up to nine months left on an old passport over to a new one.', 'This meant that a passport could be valid for more than 10 years.', 'But the rules changed after Brexit, and the majority of EU countries no longer accept British passports that were issued more than 10 years before the date of travel.', 'This is known as the ""10-year rule"".', 'To enter those countries now, your UK passport must: If your passport does not meet these requirements, you will be refused entry.', 'The rules apply in all 27 EU countries, except Ireland, which has its own separate travel arrangements with the UK.', 'They also apply to passengers traveling to Iceland, Norway and Liechtenstein - which are part of the European Economic Area (EEA) - and Switzerland.']",0.0200703739313045,Passports are free for people born on or before 2 September 1929.,"The rules are different if you are renewing a passport for a child, your passport has been lost, stolen or damaged, or you need to change your name or personal details.",0.1307669579982757,But passport fees are going up from Thursday 11 April.,Some British holidaymakers have been turned away at the airport because their passports are not valid for EU travel.,2024-04-10 -Bilt’s March Rent Day promotion: Vote for your favorite benefit with the Bilt Bracket,https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion," - Updated - 10:57 AM EST, Mon February 26, 2024 - ","The relatively new Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception. With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years. - - And in addition to their strong program, Bilt Rewards — the loyalty program behind the Bilt Mastercard — also offers some favorable promotions throughout the year, with the most popular known as Rent Day. - - With Bilt’s Rent Day promotion — which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month. Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to. - - Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one. Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick. - - A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit. Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round. The last standing offer will then be the Rent Day benefit on March 1. - - And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case). - - Let’s take a closer look at how this bracket will work and the Rent Day offer options. - - For four days straight — between Feb. 26 and Feb. 29 — Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com. There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket. - - The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1. - - However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer, giving select members two bonus opportunities on Rent Day. - - With 16 different offers, some are significantly better than others. Although, the best offer for you might truly depend on how you engage in the Bilt program. Check the Bilt app or website to see the full list of promotions you can vote on. - - For me, the offers that allow me to earn bonus points on specific purchases — such as bonus points at Bilt Dining restaurants — will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example. - - Voting is incredible quick and can easily be completed alongside your morning coffee. Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far. - - On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games. Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix. - - You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority. This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. - - Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent). - - So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar. But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits). - - Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions. Let’s see which bonus offer wins this month. - - Learn more and apply now for the Bilt Mastercard. - - Find out which cards CNN Underscored Money chose as the best credit cards currently available.",CNN,26/02/2024,"['The relatively new Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception.', 'With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month.', 'Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.', 'Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one.', 'Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.', 'A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit.', 'Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round.', 'The last standing offer will then be the Rent Day benefit on March 1.', 'And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).', 'Let’s take a closer look at how this bracket will work and the Rent Day offer options.', 'For four days straight —between Feb. 26 and Feb. 29 —Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com.', 'There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.', 'The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.', 'However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer,giving select members two bonus opportunities on Rent Day.', 'With 16 different offers, some are significantly better than others.', 'Although, the best offer for you might truly depend on how you engage in the Bilt program.', 'Check the Bilt app or website to see the full list of promotions you can vote on.', 'For me, the offers that allow me to earn bonus points on specific purchases —such as bonus points at Bilt Dining restaurants —will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.', 'Voting is incredible quick and can easily be completed alongside your morning coffee.', 'Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.', 'On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games.', 'Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.', 'You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority.', 'This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m. Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).', 'Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions.', 'Let’s see which bonus offer wins this month.', 'Learn more and apply now for the Bilt Mastercard.', 'Find out which cards CNN Underscored Money chose as the best credit cardscurrently available.']",0.5132379666371525,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,0.9566517621278764,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,2024-04-10 -It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion," - - 11:21 AM EST, Wed February 14, 2024 - ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point. - - Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower. - - This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it. - - With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon. - - To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story. - - Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added. - - Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion. - - But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so. - - If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible. - - But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply. - - When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel. - - However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer. - - To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order. - - Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer. - - Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment. - - With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax. - - Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer. - - Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back. - - Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access. - - Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year. - - Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon. - - Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points.,-0.0578339397907257,"Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.",But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.,2024-04-10 -Commercial featuring nuns taking potato chips for communion sparks outrage in Italy,https://edition.cnn.com/2024/04/10/business/chip-commercial-nuns-italy-scli-intl/index.html," - Updated - 12:02 PM EDT, Wed April 10, 2024 - ","A potato chip commercial that features nuns receiving the crispy snacks for communion is “blasphemy” and should be taken off the air, according to an Italian Catholic organization. - - The spot by Amica Chips features doe-eyed young nuns inside a convent delighting that their communion wafer, known as the host, is actually a potato chip. - - A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle. - - Catholics believe the communion wafer represents the body and blood of Christ. - - Giovanni Baggio, the head of AIART, a Catholic group that monitors Italian radio and television, called the ad “blasphemy.” - - In a statement, Baggio said the 30-second commercial was “outrageous” and that it “offends the sensitivity of millions of practicing Catholics by trivializing the comparison between the potato chip and the consecrated object.” - - The Catholic newspaper Avvenire also criticized the ad in an editorial: “Christ has been reduced to a potato chip. Debased and vilified like 2,000 years ago.” - - Amid the backlash, Italy’s advertising standards authority, the IAP, announced an order for the commercial to be taken off air. Amica Chips has seven days to appeal the decision, during which time broadcasts will continue. The order does not apply to online placements. - - Social media users also reacted in horror to the ad. - - “This is blasphemy! Respect Our Lord Jesus in the Holy Eucharist!” wrote one Instagram user. - - Another said: “You don’t play with God. To my Italian friends, I suggest a total boycott of this company.” - - One user said Amica Chips had “offended all the Catholics of the world,” and another accused the company of “a very serious lack of respect.” - - Amica Chips did not reply to a request for comment.",CNN,10/04/2024,"['A potato chip commercial that features nuns receiving the crispy snacks for communion is “blasphemy” and should be taken off the air, according to an Italian Catholic organization.', 'The spot by Amica Chips features doe-eyed young nuns inside a convent delighting that their communion wafer, known as the host, is actually a potato chip.', 'A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle.', 'Catholics believe the communion wafer represents the body and blood of Christ.', 'Giovanni Baggio, the head of AIART, a Catholic group that monitors Italian radio and television, called the ad “blasphemy.”', 'In a statement, Baggio said the 30-second commercial was “outrageous” and that it “offends the sensitivity of millions of practicing Catholics by trivializing the comparison between the potato chip and the consecrated object.”', 'The Catholic newspaper Avvenire also criticized the ad in an editorial: “Christ has been reduced to a potato chip.', 'Debased and vilified like 2,000 years ago.”', 'Amid the backlash, Italy’s advertising standards authority, the IAP, announced an order for the commercial to be taken off air.', 'Amica Chips has seven days to appeal the decision, during which time broadcasts will continue.', 'The order does not apply to online placements.', 'Social media users also reacted in horror to the ad.', '“This is blasphemy!', 'Respect Our Lord Jesus in the Holy Eucharist!”', 'wrote oneInstagram user.', 'Another said: “You don’t play with God.', 'To my Italian friends, I suggest a total boycott of this company.”', 'One user said Amica Chips had “offended all the Catholics of the world,” and another accused the company of “a very serious lack of respect.”', 'Amica Chips did not reply to a request for comment.']",0.0293129612790484,"A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle.","In a statement, Baggio said the 30-second commercial was “outrageous” and that it “offends the sensitivity of millions of practicing Catholics by trivializing the comparison between the potato chip and the consecrated object.”",-0.7933283547560374,,"One user said Amica Chips had “offended all the Catholics of the world,” and another accused the company of “a very serious lack of respect.”",2024-04-10 -Dow closes 422 points lower after a surprisingly bad inflation report,https://edition.cnn.com/2024/04/10/markets/markets-fall-cpi-inflation-report/index.html," - Updated - 4:02 PM EDT, Wed April 10, 2024 - ","US stocks fell sharply Wednesday after inflation data for March came in higher than expected. - - The blue-chip Dow closed 422 points, or 1.1% lower. The S&P 500 lost 1% and the tech-heavy Nasdaq Composite fell by 0.8%. - - US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. - - That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. And while gas and shelter costs contributed more than half of that monthly increase, prices rose in pretty much every major category last month, the BLS said. - - Investors worry that the hotter-than-expected report will push back the Federal Reserve’s timeline for the rate cuts it has been hinting would come this year. - - When the Fed raises interest rates or indicates that they may stay higher for longer, markets tend to fall. This happens because when it costs more for companies to borrow money, other investments might look better compared to stocks. Some areas like housing and utilities can get hit harder because they’re more affected by interest rate changes. - - “Today’s crucial CPI print has likely sealed the fate for the June [Fed] meeting with a cut now very unlikely,” said Seema Shah, chief global strategist at Principal Asset Management, in a note Wednesday. “Even if inflation were to cool next month to a more comfortable reading, there is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to intrude with Fed decision making.” - - Just 16.5% of investors expect an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool. That’s down from 56% one day ago. - - About 57% of investors also believe rates will remain unchanged at the July meeting. That rate has more than doubled since Tuesday. - - Minutes from the Federal Reserve’s March meeting, meanwhile, showed that some Fed officials fretted over inflation remaining stubbornly high. - - Central bank officials “observed that significant progress had been made over the past year,” despite disappointing inflation readings for January and February, but some “noted that the recent increases in inflation had been relatively broad based,” according to the minutes, released on Wednesday afternoon. - - The 10-year Treasury yield, which serves as a standard for mortgage and loan rates, surged past 4.5% after the March inflation report was released. - - Wednesday’s market drop was broad as investors worried about what higher-for-longer interest rates could mean for the economy. - - Shares of bank stocks fell. Bank of America, Wells Fargo and JPMorgan Chase, which reports first quarter earnings on Friday, all closed lower on Wednesday. - - Tech stocks, including Microsoft, Amazon and Apple, also closed lower. - - But investors may be getting ahead of themselves, said EY chief economist Gregory Daco. There are two more CPI reports and two Personal Consumption Expenditures reports due out before the Fed’s June policy meeting. - - Many Fed officials “will wait to observe the read on their favored inflation gauge — PCE inflation — later this month before adjusting their views,” he wrote in a note on Wednesday. - - Still, President Joe Biden acknowledged there is “more to do” to keep costs down. - - “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement Wednesday morning. - - As stocks settle after the trading day, levels might still change slightly.",CNN,10/04/2024,"['US stocks fell sharply Wednesday afterinflationdata for March came in higher than expected.', 'The blue-chip Dow closed 422 points, or 1.1% lower.', 'The S&P 500 lost 1% and the tech-heavy Nasdaq Composite fell by 0.8%.', 'US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.', 'That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months.', 'And while gas and shelter costs contributed more than half of that monthly increase, prices rose in pretty much every major category last month, the BLS said.', 'Investors worry that the hotter-than-expected report will push back the Federal Reserve’s timeline for the rate cuts it has been hinting would come this year.', 'When the Fed raises interest rates or indicates that they may stay higher for longer, markets tend to fall.', 'This happens because when it costs more for companies to borrow money, other investments might look better compared to stocks.', 'Some areas like housing and utilities can get hit harder because they’re more affected by interest rate changes.', '“Today’s crucial CPI print has likely sealed the fate for the June [Fed] meeting with a cut now very unlikely,” said Seema Shah, chief global strategist at Principal Asset Management, in a note Wednesday. “', 'Even if inflation were to cool next month to a more comfortable reading, there is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to intrude with Fed decision making.”', 'Just 16.5% of investors expect an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.', 'That’s down from 56% one day ago.', 'About 57% of investors also believe rates will remain unchanged at the July meeting.', 'That rate has more than doubled since Tuesday.', 'Minutes from the Federal Reserve’s March meeting, meanwhile, showed that some Fed officials fretted over inflation remaining stubbornly high.', 'Central bank officials “observed that significant progress had been made over the past year,” despite disappointing inflation readings for January and February, but some “noted that the recent increases in inflation had been relatively broad based,” according to the minutes, released on Wednesday afternoon.', 'The 10-year Treasury yield, which serves as a standard for mortgage and loan rates, surged past 4.5% after the March inflation report was released.', 'Wednesday’s market drop was broad as investors worried about what higher-for-longer interest rates could mean for the economy.', 'Shares of bank stocks fell.', 'Bank of America, Wells Fargo and JPMorgan Chase, which reports first quarter earnings on Friday, all closed lower on Wednesday.', 'Tech stocks, including Microsoft, Amazon and Apple, also closed lower.', 'But investors may be getting ahead of themselves, said EY chief economist Gregory Daco.', 'There are two more CPI reports and two Personal Consumption Expenditures reports due out before the Fed’s June policy meeting.', 'Many Fed officials “will wait to observe the read on their favored inflation gauge — PCE inflation — later this month before adjusting their views,” he wrote in a note on Wednesday.', 'Still, President Joe Biden acknowledged there is “more to do” to keep costs down.', '“Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families.', 'Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement Wednesday morning.', 'As stocks settle after the trading day, levels might still change slightly.']",0.1004816650993037,"And while gas and shelter costs contributed more than half of that monthly increase, prices rose in pretty much every major category last month, the BLS said.",Investors worry that the hotter-than-expected report will push back the Federal Reserve’s timeline for the rate cuts it has been hinting would come this year.,-0.1566822032133738,"US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.",US stocks fell sharply Wednesday afterinflationdata for March came in higher than expected.,2024-04-10 -Fallen 'Crypto King' Sam Bankman-Fried gets 25 years for fraud,https://www.bbc.co.uk/news/business-68677487,2024-03-28T16:12:40.000Z,"Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm. The ruling cements the downfall of the former billionaire, who emerged as a high profile champion of crypto before his firm's dramatic collapse in 2022. He was found to have stolen billions from customers ahead of the failure. Bankman-Fried's legal team will appeal against his conviction. A message from his parents shared with the BBC by a representative for Bankman-Fried said: ""We are heartbroken and will continue to fight for our son."" Earlier, the 32-year-old said in court he knew ""a lot of people"" felt ""really let down"". ""I'm sorry about that. I'm sorry about what happened at every stage,"" he said, speaking quietly and clearly ahead of his sentencing. FTX was one of the world's largest crypto exchanges before its demise, turning Bankman-Fried into a business celebrity and attracting millions of customers who used the platform to buy and trade cryptocurrency. Rumours of financial trouble sparked a run on deposits in 2022, precipitating the firm's implosion and exposing Bankman-Fried's crimes. He was convicted by a New York jury last year on charges including wire fraud and conspiracy to commit money laundering, after a trial that detailed how he had taken more than $8bn (£6.3bn) from customers, and used the money to buy property, make political donations and put toward other investments. Before reading the sentence on Thursday, Judge Lewis Kaplan provided a harsh assessment of Bankman-Fried's behaviour, saying he had lied during his testimony at trial when he claimed he was unaware until the last minute that his companies were taking money entrusted to them for safe-keeping by customers and using it for other purposes. ""He knew it was wrong. He knew it was criminal. He regrets that he made a very bad bet about the likelihood of getting caught but he's not going to admit a thing,"" the judge said. Though Bankman-Fried had made ""protestations of sorrow"" about customer losses, he had uttered ""never a word of remorse for the commission of terrible crimes"", he added. While 25 years constitutes a serious prison sentence, it is far less than the more than 100 years Bankman-Fried could have received under official government guidelines. Federal prosecutors in New York this month told the judge such a long term was not necessary. But they requested at least 40 years, arguing that Bankman-Fried had committed a massive fraud, while showing ""brazen disrespect"" for the law. Bankman-Fried's team had argued for a lighter sentence of roughly five to 6.5 years. They said that he was a non-violent, first-time offender, and pointed to mental health struggles and argued that customers were poised to recover significant sums under a plan currently working through bankruptcy court. ""The victims want their money back and they should get it,"" his lawyer, Marc Mukasey, argued in court on Thursday morning. ""Sentence him to work hard and give it all away."" Former federal prosecutor Mitchell Epner, now a lawyer at Rottenberg Lipman Rich, said he was ""very surprised"" by the ruling, noting that Bankman-Fried could potentially be released from prison in about 13 years. But Jennifer Taub, a law professor at Western New England University and expert on white-collar crime, said she thought the length of the sentence was appropriate. ""It is the right balance between how old he is and what is the purpose of deterrence,"" she said. In his sentencing remarks, Judge Kaplan said what could amount to a life sentence was unnecessary but that Bankman-Fried must receive a punishment sufficient to prevent him from committing future crimes. ""There is a risk that this man will be in a position to do something very bad in the future and it's not a trivial risk, not a trivial risk at all,"" he said. He also ordered Bankman-Fried to forfeit $11bn that can be used to compensate victims. The government has already seized some of those assets, such as shares Bankman-Fried owned in Robinhood, the trading app which raised more than $600m when they were sold last year. Bankman-Fried showed little visible reaction to the ruling. Bankman-Fried has admitted to mistakes of mismanagement, but maintained that he was acting in good faith. In his comments ahead of the sentencing, he stuck to his story that FTX had the holdings to repay customers at the time of its collapse and said he did not think that reasons behind customer suffering had been ""properly told"". ""They've been failed by more people than I can count"" including himself, he said, speaking of the exchange's customers. ""It's been excruciating to watch."" Bankman-Fried said he was sorry for disappointing not only customers but also former employees, including top lieutenants Caroline Ellison and Gary Wang, formerly close friends who testified against him at trial and whom he praised in his remarks. ""They all built something really beautiful, they threw themselves into it and then I threw it all away,"" he added. ""It haunts me every day."" Dozens of people, including former FTX customers, family, friends of his parents and complete strangers, had submitted letters to the court, trying to sway the outcome. Louis Dorigny of California, who had been an FTX customer said it was a ""bittersweet moment for creditors"". ""I don't wish jail time on anybody, and 25 years is a very, very long time to be in prison, but it does nothing to compensate the victims for the loss of their cryptocurrency,"" he said. Samuel Hapak, chief executive of crypto trading fund Wincent, whose firm represented 200 investors with millions of dollars at FTX when it entered bankruptcy, told the BBC that he thought the ruling was ""fair"". ""Twenty-five years is a lot and I believe that this sounds like a reasonable signal to the industry that it needs to step up the game,"" he said. Judge Kaplan said he would not recommend Bankman-Fried serve his sentence in a maximum security prison because the court had no reason to believe he posed a threat of violence. He said he was also taking into account concerns raised by his lawyers and parents that Bankman-Fried's social awkwardness stemming from autism spectrum disorder would make him vulnerable in prison. Bankman-Fried's case has been closely watched by other crypto executives and firms facing charges. But he is not the first player in the industry to be sentenced. Karl Sebastian Greenwood, who worked with ""Cryptoqueen"" Ruja Ignatova, was sentenced to 20 years in prison last year for his role convincing millions of people to invest more than $4bn in a fraudulent currency, OneCoin. His case also drew comparisons to Bernie Madoff, who was setenced to 150 years in prison after being found guilty of a $64bn Ponzi scheme. Former federal prosecutor Marc Litt, who worked on the the case against Madoff and is now a lawyer at Wachtel Missry, said he saw big differences between the two fraudsters, noting Madoff was older when sentenced, had committed his crimes over several decades, stolen from people he knew well and had no one step forward to testify to his character. ""The court implicitly took those sorts of differences into consideration and I believe that the resulting lower sentence was both warranted and is unlikely to be disturbed on appeal,"" he said. ",BBC,28/03/2024,"['Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm.', ""The ruling cements the downfall of the former billionaire, who emerged as a high profile champion of crypto before his firm's dramatic collapse in 2022."", 'He was found to have stolen billions from customers ahead of the failure.', ""Bankman-Fried's legal team will appeal against his conviction."", 'A message from his parents shared with the BBC by a representative for Bankman-Fried said: ""We are heartbroken and will continue to fight for our son.""', 'Earlier, the 32-year-old said in court he knew ""a lot of people"" felt ""really let down"". ""', ""I'm sorry about that."", 'I\'m sorry about what happened at every stage,"" he said, speaking quietly and clearly ahead of his sentencing.', ""FTX was one of the world's largest crypto exchanges before its demise, turning Bankman-Fried into a business celebrity and attracting millions of customers who used the platform to buy and trade cryptocurrency."", ""Rumours of financial trouble sparked a run on deposits in 2022, precipitating the firm's implosion and exposing Bankman-Fried's crimes."", 'He was convicted by a New York jury last year on charges including wire fraud and conspiracy to commit money laundering, after a trial that detailed how he had taken more than $8bn (£6.3bn) from customers, and used the money to buy property, make political donations and put toward other investments.', 'Before reading the sentence on Thursday, Judge Lewis Kaplan provided a harsh assessment of Bankman-Fried\'s behaviour, saying he had lied during his testimony at trial when he claimed he was unaware until the last minute that his companies were taking money entrusted to them for safe-keeping by customers and using it for other purposes. ""', 'He knew it was wrong.', 'He knew it was criminal.', 'He regrets that he made a very bad bet about the likelihood of getting caught but he\'s not going to admit a thing,"" the judge said.', 'Though Bankman-Fried had made ""protestations of sorrow"" about customer losses, he had uttered ""never a word of remorse for the commission of terrible crimes"", he added.', 'While 25 years constitutes a serious prison sentence, it is far less than the more than 100 years Bankman-Fried could have received under official government guidelines.', 'Federal prosecutors in New York this month told the judge such a long term was not necessary.', 'But they requested at least 40 years, arguing that Bankman-Fried had committed a massive fraud, while showing ""brazen disrespect"" for the law.', ""Bankman-Fried's team had argued for a lighter sentence of roughly five to 6.5 years."", 'They said that he was a non-violent, first-time offender, and pointed to mental health struggles and argued that customers were poised to recover significant sums under a plan currently working through bankruptcy court. ""', 'The victims want their money back and they should get it,"" his lawyer, Marc Mukasey, argued in court on Thursday morning. ""', 'Sentence him to work hard and give it all away.""', 'Former federal prosecutor Mitchell Epner, now a lawyer at Rottenberg Lipman Rich, said he was ""very surprised"" by the ruling, noting that Bankman-Fried could potentially be released from prison in about 13 years.', 'But Jennifer Taub, a law professor at Western New England University and expert on white-collar crime, said she thought the length of the sentence was appropriate. ""', 'It is the right balance between how old he is and what is the purpose of deterrence,"" she said.', 'In his sentencing remarks, Judge Kaplan said what could amount to a life sentence was unnecessary but that Bankman-Fried must receive a punishment sufficient to prevent him from committing future crimes. ""', 'There is a risk that this man will be in a position to do something very bad in the future and it\'s not a trivial risk, not a trivial risk at all,"" he said.', 'He also ordered Bankman-Fried to forfeit $11bn that can be used to compensate victims.', 'The government has already seized some of those assets, such as shares Bankman-Fried owned in Robinhood, the trading app which raised more than $600m when they were sold last year.', 'Bankman-Fried showed little visible reaction to the ruling.', 'Bankman-Fried has admitted to mistakes of mismanagement, but maintained that he was acting in good faith.', 'In his comments ahead of the sentencing, he stuck to his story that FTX had the holdings to repay customers at the time of its collapse and said he did not think that reasons behind customer suffering had been ""properly told"". ""', 'They\'ve been failed by more people than I can count"" including himself, he said, speaking of the exchange\'s customers. ""', 'It\'s been excruciating to watch.""', 'Bankman-Fried said he was sorry for disappointing not only customers but also former employees, including top lieutenants Caroline Ellison and Gary Wang, formerly close friends who testified against him at trial and whom he praised in his remarks. ""', 'They all built something really beautiful, they threw themselves into it and then I threw it all away,"" he added. ""', 'It haunts me every day.""', 'Dozens of people, including former FTX customers, family, friends of his parents and complete strangers, had submitted letters to the court, trying to sway the outcome.', 'Louis Dorigny of California, who had been an FTX customer said it was a ""bittersweet moment for creditors"". ""', 'I don\'t wish jail time on anybody, and 25 years is a very, very long time to be in prison, but it does nothing to compensate the victims for the loss of their cryptocurrency,"" he said.', 'Samuel Hapak, chief executive of crypto trading fund Wincent, whose firm represented 200 investors with millions of dollars at FTX when it entered bankruptcy, told the BBC that he thought the ruling was ""fair"". ""', 'Twenty-five years is a lot and I believe that this sounds like a reasonable signal to the industry that it needs to step up the game,"" he said.', 'Judge Kaplan said he would not recommend Bankman-Fried serve his sentence in a maximum security prison because the court had no reason to believe he posed a threat of violence.', ""He said he was also taking into account concerns raised by his lawyers and parents that Bankman-Fried's social awkwardness stemming from autism spectrum disorder would make him vulnerable in prison."", ""Bankman-Fried's case has been closely watched by other crypto executives and firms facing charges."", 'But he is not the first player in the industry to be sentenced.', 'Karl Sebastian Greenwood, who worked with ""Cryptoqueen"" Ruja Ignatova, was sentenced to 20 years in prison last year for his role convincing millions of people to invest more than $4bn in a fraudulent currency, OneCoin.', 'His case also drew comparisons to Bernie Madoff, who was setenced to 150 years in prison after being found guilty of a $64bn Ponzi scheme.', 'Former federal prosecutor Marc Litt, who worked on the the case against Madoff and is now a lawyer at Wachtel Missry, said he saw big differences between the two fraudsters, noting Madoff was older when sentenced, had committed his crimes over several decades, stolen from people he knew well and had no one step forward to testify to his character. ""', 'The court implicitly took those sorts of differences into consideration and I believe that the resulting lower sentence was both warranted and is unlikely to be disturbed on appeal,"" he said.']",-0.2778604803875567,"Bankman-Fried said he was sorry for disappointing not only customers but also former employees, including top lieutenants Caroline Ellison and Gary Wang, formerly close friends who testified against him at trial and whom he praised in his remarks. """,Judge Kaplan said he would not recommend Bankman-Fried serve his sentence in a maximum security prison because the court had no reason to believe he posed a threat of violence.,-0.2853165732489692,"They said that he was a non-violent, first-time offender, and pointed to mental health struggles and argued that customers were poised to recover significant sums under a plan currently working through bankruptcy court. ""","Rumours of financial trouble sparked a run on deposits in 2022, precipitating the firm's implosion and exposing Bankman-Fried's crimes.",2024-04-10 -Banks say they’re meeting climate pledges. A new report says they’re ineffective,https://edition.cnn.com/2024/04/10/investing/premarket-stocks-trading/index.html," - Published - 7:01 AM EDT, Wed April 10, 2024 - ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. - - The biggest banks in the world have pledged to go green. But a new study, published by the European Central Bank, has found that those promises often amount to more talk than walk. - - What’s happening: Just over two years ago, the world’s largest lenders and asset managers gathered in Glasgow and pledged to spend a collective $130 trillion (that’s nearly five times larger than the US economy) to tackle climate change. What emerged was the Glasgow Financial Alliance for Net Zero (GFANZ) – now made up of 675 financial powerhouses spanning 50 countries. - - “We now have the essential plumbing in place to move climate change from the fringes to the forefront of finance so that every financial decision takes climate change into account,” Mark Carney, the alliance co-chair, UN Special Envoy for Climate Action and former head of the Bank of England, said in a statement at the time. - - The financial institutions voluntarily pledged to make sure that the companies they invested in slashed their emissions. They also said they would align their lending policies with the goal of limiting global temperature increases to 1.5°C from pre-industrial levels. - - But a new report that analyzed lending by some European signatories, published by economists from the ECB, MIT and Columbia Business School, casts doubts on whether the promises had made any substantive changes. - - “Our results cast doubt on the efficacy of voluntary climate commitments for reducing financed emissions, whether through divestment or engagement,” they wrote in their report. - - About 10% of the 300 banks the study analyzed had joined the Net-Zero Banking Alliance (a group led by GFANZ and backed by the United Nations). - - They found that banks in the alliance did not increase interest rates on loans to companies with high carbon emissions and the companies receiving loans from banks in the alliance were not more likely to set goals for decarbonization. - - Since 2018, they found, European banks had reduced their lending by just 20% to carbon-heavy sectors like oil, gas and transport. - - Researchers found that the decline was the same for all banks, regardless of whether they signed onto the commitment. - - GFANZ declined to comment, but a BloombergNEF research report that showed that banks in the Net-Zero Banking Alliance deployed a much greater percentage of their finance into clean energy than banks that weren’t in the alliance. - - Leaving the group: The study comes at a time when some large banks are pulling out of high-commitment climate pledges and Republican backlash grows against investing strategies that evaluate stocks using environmental, social and governance factors. - - The insurers’ climate alliance, another group under GFANZ, lost nearly half of its members last year as a group of Republican attorneys general accused the insurers of potentially breaking US antitrust laws. - - JPMorgan Chase and State Street quit Climate Action 100+, an investor-led climate change initiative, last year. - - “The climate challenge is immense and complex,” said JPMorgan CEO Jamie Dimon in his annual letter to shareholders this week. “Addressing it requires more than making simplistic statements and rules.” - - Dimon said JPMorgan erred when it used the word “commitment” instead of “aspirations we are actively striving toward.” - - “While we don’t necessarily disagree with some of the principles many organizations have, we make our own business decisions,” he added, noting JPMorgan has invested in its own in-house climate team. - - State Street did not immediately respond to CNN’s request for comment. - - Climate experts expect that over $5 trillion must be invested into climate action annual to meet current goals. - - From central banks to Costco customers, it seems everyone is buying gold these days, reports CNN’s John Towfighi. - - The price of spot gold reached $2,364 per ounce Tuesday after hitting record highs for seven straight sessions and trading at $2,336 per ounce Monday. Year on year, gold is up 16.5%. - - Investors who expect the Federal Reserve to cut its benchmark interest rate are the main force driving up prices, but the surge is boosted by other factors, including central banks — led by China — buying up gold to ease reliance on US dollars. - - Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. - - Gold is considered a resilient investment. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise. - - The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. - - Central banks may want to “diversify away” from US dollars and buy gold amid geopolitical uncertainty, according to an April 9 UBS research note. As China builds its reserves, demand is pushing up prices already boosted by usual investors. - - Chinese investors are looking to gold as an alternative asset amid downturns in property valuations and equity prices in past years, according to an April 9 Capital Economics research note. - - Other central banks, including India and Turkey, are also increasing their gold reserves. India’s GDP growth is driving those purchases, according to UBS. - - Read more here. - - Jessica Alba is stepping down as chief creative officer at The Honest Company, the baby products and personal care business founded by the actress in 2012, reports my colleague Ramishah Maruf. - - In a statement Tuesday, the company said Alba’s move away from her position will allow her to “shift her creative energy to new endeavors.” The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors. - - The Honest Company posted a strong fourth quarter in March. Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases. The earnings report said its diaper and baby clothing businesses performed especially well. - - Still, shares of the stock are down more than 80% from their market peak in 2021. The company is not profitable, and reported a net loss of about of $39 million in 2023. - - The company — which went public and began trading on Nasdaq in 2021 — markets an aspirational “clean” lifestyle through its baby products and clothing, as well as skin and personal care.",CNN,10/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'The biggest banks in the world have pledged to go green.', 'But a new study, published by the European Central Bank, has found that those promises often amount to more talk than walk.', 'What’s happening: Just over two years ago, the world’s largest lenders and asset managers gathered in Glasgow and pledged to spend a collective $130 trillion (that’s nearly five times larger than the US economy) to tackle climate change.', 'What emerged was the Glasgow Financial Alliance for Net Zero (GFANZ) – now made up of 675 financial powerhouses spanning 50 countries.', '“We now have the essential plumbing in place to move climate change from the fringes to the forefront of finance so that every financial decision takes climate change into account,” Mark Carney, the alliance co-chair, UN Special Envoy for Climate Action and former head of the Bank of England, said in a statement at the time.', 'The financial institutions voluntarily pledged to make sure that the companies they invested in slashed their emissions.', 'They also said they would align their lending policies with the goal of limiting global temperature increases to 1.5°C from pre-industrial levels.', 'But a new report that analyzed lending by some European signatories, published by economists from the ECB, MIT and Columbia Business School, casts doubts on whether the promises had made any substantive changes.', '“Our results cast doubt on the efficacy of voluntary climate commitments for reducing financed emissions, whether through divestment or engagement,” they wrote in their report.', 'About 10% of the 300 banks the study analyzed had joined the Net-Zero Banking Alliance (a group led by GFANZ and backed by the United Nations).', 'They found that banks in the alliance did not increase interest rates on loans to companies with high carbon emissions and the companies receiving loans from banks in the alliance were not more likely to set goals for decarbonization.', 'Since 2018, they found, European banks had reduced their lending by just 20% to carbon-heavy sectors like oil, gas and transport.', 'Researchers found that the decline was the same for all banks, regardless of whether they signed onto the commitment.', 'GFANZ declined to comment, but a BloombergNEF research report that showed that banks in the Net-Zero Banking Alliance deployed a much greater percentage of their finance into clean energy than banks that weren’t in the alliance.', 'Leaving the group: The study comes at a time when some large banks are pulling out of high-commitment climate pledges and Republican backlash grows against investing strategies that evaluate stocks using environmental, social and governance factors.', 'The insurers’ climate alliance, another group under GFANZ, lost nearly half of its members last year as a group of Republican attorneys general accused the insurers of potentially breaking US antitrust laws.', 'JPMorgan Chase and State Street quit Climate Action 100+, an investor-led climate change initiative, last year.', '“The climate challenge is immense and complex,” said JPMorgan CEO Jamie Dimon in his annual letter to shareholders this week. “', 'Addressing it requires more than making simplistic statements and rules.”', 'Dimon said JPMorgan erred when it used the word “commitment” instead of “aspirations we are actively striving toward.”', '“While we don’t necessarily disagree with some of the principles many organizations have, we make our own business decisions,” he added, noting JPMorgan has invested in its own in-house climate team.', 'State Street did not immediately respond to CNN’s request for comment.', 'Climate experts expect that over $5 trillion must be invested into climate action annual to meet current goals.', 'From central banks toCostcocustomers, it seems everyone is buying gold these days, reports CNN’s John Towfighi.', 'The price of spot gold reached$2,364 per ounceTuesday after hitting record highs for seven straight sessions and trading at $2,336 per ounce Monday.', 'Year on year, gold is up 16.5%.', 'Investors who expect the Federal Reserve to cut its benchmark interest rate are the main force driving up prices, but the surge is boosted by other factors, including central banks — led by China — buying up gold to ease reliance on US dollars.', 'Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil.', 'Gold is considered a resilient investment.', 'When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds.', 'Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise.', 'The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters.', 'Central banks may want to “diversify away” from US dollars and buy gold amid geopolitical uncertainty, according to an April 9 UBS research note.', 'As China builds its reserves, demand is pushing up prices already boosted by usual investors.', 'Chinese investors are looking to gold as an alternative asset amid downturns in property valuations and equity prices in past years, according to an April 9 Capital Economics research note.', 'Other central banks, including India and Turkey, are also increasing their gold reserves.', 'India’s GDP growth is driving those purchases, according to UBS.', 'Read more here.', 'Jessica Alba is stepping down as chief creative officer at The Honest Company, the baby products and personal care business founded by the actress in 2012, reports my colleague Ramishah Maruf.', 'In astatementTuesday, the company said Alba’s move away from her position will allow her to “shift her creative energy to new endeavors.”', 'The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors.', 'The Honest Company posted a strong fourth quarter in March.', 'Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases.', 'The earnings report said its diaper and baby clothing businesses performed especially well.', 'Still, shares of the stock are down more than 80% from their market peak in 2021.', 'The company is not profitable, and reported a net loss of about of $39 million in 2023.', 'The company — whichwent public and began trading on Nasdaqin 2021 — markets an aspirational “clean” lifestyle through its baby products and clothing, as well as skin and personal care.']",0.2267326055598773,"The actress, known for her roles in “Fantastic Four” and “Good Luck Chuck,” will remain on The Honest Company’s board of directors.","The company is not profitable, and reported a net loss of about of $39 million in 2023.",0.3123219520957381,"Its revenue increased 10% to $90 million, according to the company’s earnings report, driven by growth in its digital channel and price increases.","The insurers’ climate alliance, another group under GFANZ, lost nearly half of its members last year as a group of Republican attorneys general accused the insurers of potentially breaking US antitrust laws.",2024-04-10 -Iowa women’s basketball sets another ratings record in Final Four win over UConn,https://edition.cnn.com/business/iowa-womens-basketball-ratings-record/index.html," - Published - 11:36 PM EDT, Sat April 6, 2024 - ","Days after the Iowa Hawkeyes set the all-time ratings record for a women’s college basketball game in their Elite Eight win over the Louisiana State University Tigers, the team set yet another record. - - The Hawkeyes’ 71-69 victory on Friday over the UConn Huskies in the Final Four averaged 14.2 million viewers, making it the most-viewed women’s basketball game and the largest viewership for an ESPN basketball broadcast, according to the sports network. - - Friday’s game peaked at 17 million viewers, making it ESPN’s second-best non-football telecast ever. - - Monday’s Elite Eight matchup saw more than 12 million viewers tune in to watch the much-hyped rematch of 2023’s women’s national championship game, which saw Iowa avenge last year’s loss and advance to its second straight Final Four. - - The audience for that game peaked at 16.1 million viewers, according to ESPN. - - The average women’s NCAA tournament game’s viewership rating is up by 127% year over year for ESPN, according to Disney, the sports network’s parent company, CNN previously reported. - - The Hawkeyes will take on the South Carolina Gamecocks on Sunday for the women’s NCAA tournament national championship in Cleveland, Ohio.",CNN,06/04/2024,"['Days after the Iowa Hawkeyes set the all-time ratings record for a women’s college basketball game in their Elite Eight win over the Louisiana State University Tigers, the team set yet another record.', 'The Hawkeyes’ 71-69 victory on Friday over the UConn Huskies in the Final Four averaged 14.2 million viewers, making it the most-viewed women’s basketball game and the largest viewership for an ESPN basketball broadcast, according to the sports network.', 'Friday’s game peaked at 17 million viewers, making it ESPN’s second-best non-football telecast ever.', 'Monday’s Elite Eight matchup saw more than 12 million viewers tune in to watch the much-hyped rematch of 2023’s women’s national championship game, which saw Iowa avenge last year’s loss and advance to its second straight Final Four.', 'The audience for that game peaked at 16.1 million viewers, according to ESPN.', 'The average women’s NCAA tournament game’s viewership rating is up by 127% year over year for ESPN, according to Disney, the sports network’s parent company, CNN previously reported.', 'The Hawkeyes will take on the South Carolina Gamecocks on Sunday for the women’s NCAA tournament national championship in Cleveland, Ohio.']",0.289203262627152,"Friday’s game peaked at 17 million viewers, making it ESPN’s second-best non-football telecast ever.",,0.97069351375103,"The average women’s NCAA tournament game’s viewership rating is up by 127% year over year for ESPN, according to Disney, the sports network’s parent company, CNN previously reported.",,2024-04-10 -NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html," - Published - 8:05 AM EDT, Tue March 26, 2024 - ","Cesar Conde has a decision to make — and it’s not an especially difficult one. - - The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor. - - Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move. - - Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making. - - While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing. - - It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote. - - As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC. - - The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.) - - But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment. - - Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it. - - At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this? - - The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning. - - But no such announcement came. - - Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory. - - All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is. - - In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess. - - “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.” - - “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-04-10 -Stubbornly high US inflation grew stronger than expected in March,https://edition.cnn.com/2024/04/10/economy/cpi-consumer-price-index-inflation-march/index.html," - Updated - 3:06 PM EDT, Wed April 10, 2024 - ","Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer. - - US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. - - That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Wednesday’s report further highlights that the path to lower inflation remains extremely bumpy — and continue to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon. - - President Joe Biden acknowledged Wednesday there is “more to do” to bring down inflation. - - “Today’s report shows inflation has fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families. Prices are still too high for housing and groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement. - - Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. - - “You can kiss a June interest rate cut goodbye,” Greg McBride, chief financial analyst for Bankrate, wrote in commentary issued Wednesday. Following the report’s release, the markets’ probability of a June rate cut sank to 21%, down from 53% on Tuesday and 73% last month, according to the CME FedWatch tool. - - US stocks tanked Wednesday after the release of the hotter-than-expected inflation data, with the blue-chip Dow falling by more than 500 points. The S&P 500 lost 1% and the Nasdaq Composite fell by 1%. - - On a monthly basis, prices were unchanged from February’s 0.4% gain. - - Gas and shelter costs contributed more than half of that monthly increase, but price increases were broad-based, according to the BLS. Aside from prices falling in only a couple of categories — used and new cars as well as fuel oil — or remaining flat (grocery store food), prices rose in pretty much every major category last month. - - Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates. - - The Fed has been wanting to see meaningful progress on inflation before it starts cutting rates. - - The pace of price hikes slowed markedly in 2023, but that progress not only hit a roadblock to start this year, it moved into reverse. - - Since the headline index can be heavily influenced by highly volatile categories such as food and energy, central bankers often look closely to the “core” index that strips out those categories. - - However, core CPI did not slow as expected. - - Excluding gas and food prices, categories that tend to be more volatile, core inflation rose 0.4% from the month before, bringing the annual rate to 3.8%, the same as February’s reading. Economists had anticipated a 0.3% monthly gain and for the annual rate to inch lower to 3.7%, according to FactSet. - - “The headline number was expected to go up because of energy prices, but the fact that core came in hotter than expected is a real bummer,” Tyler Schipper, assistant professor in economics and data analytics at the University of St. Thomas in Minnesota, told CNN. “That’s the number to fixate on in terms of underlying inflation trends, and they are very persistent and very stubborn.” - - On a three-month annualized basis, core inflation is running at 4.5%, Sarah House, managing director and senior economist at Wells Fargo, told CNN. - - The housing component of inflation has proved frustrating for economists and other observers because even while the government’s evaluation of shelter costs — which have a time lag — remains high, private sources of more recent data have shown rent cooling over the past year. - - On an annual basis, the shelter index in the March CPI didn’t budge from the 5.7% rate seen a month before. - - “Shelter was a touch firmer, and I think that does continue to raise some doubt over how quickly and how far shelter inflation can cool ahead,” House said. - - It’s not just shelter keeping services inflation stuck in the mud. The services excluding shelter index continued to outpace overall inflation, rising 0.5% for the month and 5.3% for the year, according to the report. - - Medical care services, which saw prices fall slightly in February, bounced higher by 0.6% last month. Car insurance shot up by 2.6%, bringing the annual price hike to a distasteful 22.2%. - - “We’re still seeing very stubborn services inflation,” she said. “This is the element that the Fed has really focused on. They feel like they have a better grip on goods prices and what’s going to happen ahead, but we’re still not seeing the improvement they need in the services sector if we’re going to continue to drive inflation significantly lower this year.” - - Since the pandemic-era supply chain snarls resolved, the goods sector has helped overall inflation move lower because prices have not only slowed there but, in some cases, outright fallen. - - However, supply chain pressures are building back up because of developments such as ongoing turmoil in the Red Sea, the Panama Canal’s drought, and the Key bridge collapse that blocked the Port of Baltimore. - - “You’re losing that disinflationary impulse from goods while you’re still waiting to see more progress on lowering services inflation,” House said. - - Economists have long expected that lower market-rate rents would help bring shelter inflation and overall inflation lower (the CPI’s measurement of shelter prices comes with a delay in how BLS captures the data and the natural lag effect of the signing of annual leases). But there still is hope on the services side, Schipper said. - - “Wages are one of the primary inputs into services, and those have been relatively stable and coming down nicely in the labor market,” he said. “Hopefully that starts to put some calming pressure on services over the longer term.” - - Additionally, grocery prices (categorized as “food at home” in the CPI report) were flat for the second month in a row and restaurant prices slowed 4.2% annually, the lowest rate since June 2021. - - But even though food prices aren’t rocketing higher like they were, Americans are still feeling the pressure from rising prices for services-related businesses as well as at the gas pump. - - It’s going to be a “slow, slow process” for inflation to get back to a place where consumers aren’t having to think about it in their daily lives, House said. - - “Prices are not going to revert to where they were, so the best we can look for is a moderation in the rate at which prices are going up,” she said. “You see some stabilization in some key areas like the grocery store; but overall, you’re still going to see consumers bothered by the current price environment for some time.” - - This story has been updated with additional developments and context. It also corrects the date of the report, which was issued Wednesday.",CNN,10/04/2024,"['Surging gas prices and sky-high mortgages and rent sentinflationrising more than expected in March, adding to Americans’ prolonged and painful battle with high costs.', 'That could force theFederal Reserveto keep its punishingrateshigher for longer.', 'US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.', 'That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months.', 'Wednesday’s report further highlights that the path to lower inflation remains extremely bumpy — and continue to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon.', 'President Joe Biden acknowledged Wednesday there is “more to do” to bring downinflation.', '“Today’s report showsinflationhas fallen more than 60% from its peak, but we have more to do to lower costs for hardworking families.', 'Prices are still too high forhousingand groceries, even as prices for key household items like milk and eggs are lower than a year ago,” Biden said in a statement.', 'Inflationhas been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of theeconomy.', '“You can kiss a June interest rate cut goodbye,” Greg McBride, chief financial analyst for Bankrate, wrote in commentary issued Wednesday.', 'Following the report’s release, the markets’ probability of a June rate cut sank to 21%, down from 53% on Tuesday and 73% last month, according to the CME FedWatch tool.', 'US stocks tanked Wednesday after the release of the hotter-than-expected inflation data, with the blue-chip Dow falling by more than 500 points.', 'The S&P 500 lost 1% and the Nasdaq Composite fell by 1%.', 'On a monthly basis, prices were unchanged from February’s 0.4% gain.', 'Gas and shelter costs contributed more than half of that monthly increase, but price increases were broad-based, according to the BLS.', 'Aside from prices falling in only a couple of categories — used and new cars as well as fuel oil — or remaining flat (grocery store food), prices rose in pretty much every major category last month.', 'Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates.', 'The Fed has been wanting to see meaningful progress on inflation before it starts cutting rates.', 'The pace of price hikes slowed markedly in 2023, but that progress not only hit a roadblock to start this year, it moved into reverse.', 'Since the headline index can be heavily influenced by highly volatile categories such as food and energy, central bankers often look closely to the “core” index that strips out those categories.', 'However, core CPI did not slow as expected.', 'Excluding gas and food prices, categories that tend to be more volatile, core inflation rose 0.4% from the month before, bringing the annual rate to 3.8%, the same as February’s reading.', 'Economists had anticipated a 0.3% monthly gain and for the annual rate to inch lower to 3.7%, according to FactSet.', '“The headline number was expected to go up because of energy prices, but the fact that core came in hotter than expected is a real bummer,” Tyler Schipper, assistant professor in economics and data analytics at the University of St. Thomas in Minnesota, told CNN. “', 'That’s the number to fixate on in terms of underlying inflation trends, and they are very persistent and very stubborn.”', 'On a three-month annualized basis, core inflation is running at 4.5%, Sarah House, managing director and senior economist at Wells Fargo, told CNN.', 'The housing component of inflation has proved frustrating for economists and other observers because even while the government’s evaluation of shelter costs — which have a time lag — remains high, private sources of more recent data have shown rent cooling over the past year.', 'On an annual basis, the shelter index in the March CPI didn’t budge from the 5.7% rate seen a month before.', '“Shelter was a touch firmer, and I think that does continue to raise some doubt over how quickly and how far shelter inflation can cool ahead,” House said.', 'It’s not just shelter keeping services inflation stuck in the mud.', 'The services excluding shelter index continued to outpace overall inflation, rising 0.5% for the month and 5.3% for the year, according to the report.', 'Medical care services, which saw prices fall slightly in February, bounced higher by 0.6% last month.', 'Car insurance shot up by 2.6%, bringing the annual price hike to a distasteful 22.2%.', '“We’re still seeing very stubborn services inflation,” she said. “', 'This is the element that the Fed has really focused on.', 'They feel like they have a better grip on goods prices and what’s going to happen ahead, but we’re still not seeing the improvement they need in the services sector if we’re going to continue to drive inflation significantly lower this year.”', 'Since the pandemic-era supply chain snarls resolved, the goods sector has helped overall inflation move lower because prices have not only slowed there but, in some cases, outright fallen.', 'However, supply chain pressures are building back up because of developments such as ongoing turmoil in the Red Sea, the Panama Canal’s drought, and the Key bridge collapse that blocked the Port of Baltimore.', '“You’re losing that disinflationary impulse from goods while you’re still waiting to see more progress on lowering services inflation,” House said.', 'Economists have long expected that lower market-rate rents would help bring shelter inflation and overall inflation lower (the CPI’s measurement of shelter prices comes with a delay in how BLS captures the data and the natural lag effect of the signing of annual leases).', 'But there still is hope on the services side, Schipper said.', '“Wages are one of the primary inputs into services, and those have been relatively stable and coming down nicely in the labor market,” he said. “', 'Hopefully that starts to put some calming pressure on services over the longer term.”', 'Additionally, grocery prices (categorized as “food at home” in the CPI report) were flat for the second month in a row and restaurant prices slowed 4.2% annually, the lowest rate since June 2021.', 'But even though food prices aren’t rocketing higher like they were, Americans are still feeling the pressure from rising prices for services-related businesses as well as at the gas pump.', 'It’s going to be a “slow, slow process” for inflation to get back to a place where consumers aren’t having to think about it in their daily lives, House said.', '“Prices are not going to revert to where they were, so the best we can look for is a moderation in the rate at which prices are going up,” she said. “', 'You see some stabilization in some key areas like the grocery store; but overall, you’re still going to see consumers bothered by the current price environment for some time.”', 'This story has been updated with additional developments and context.', 'It also corrects the date of the report, which was issued Wednesday.']",0.0215260451633802,"“Prices are not going to revert to where they were, so the best we can look for is a moderation in the rate at which prices are going up,” she said. “","However, supply chain pressures are building back up because of developments such as ongoing turmoil in the Red Sea, the Panama Canal’s drought, and the Key bridge collapse that blocked the Port of Baltimore.",0.2241469479742504,"Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates.","Following the report’s release, the markets’ probability of a June rate cut sank to 21%, down from 53% on Tuesday and 73% last month, according to the CME FedWatch tool.",2024-04-10 -Panama Papers: Money laundering trial of 27 defendants begins,https://www.bbc.co.uk/news/articles/cnek443n8zvo,2024-04-09T03:10:45.612Z,"The trial of 27 people charged in connection with the Panama Papers money laundering scandal has started in a Panamanian criminal court. The leak of secret financial documents in 2016 revealed how some of the world's wealthiest people stashed their assets in offshore companies. The defendants include Jurgen Mossack and Ramon Fonseca Mora who founded the now defunct law firm, Mossack Fonseca. They face money-laundering charges but say neither they, the firm nor its employees were involved in unlawful acts. In 2017, the firm said it was the victim of a computer hack and that the information leaked was being misrepresented. If found guilty, Mr Mossack and Mr Fonseca could face up to twelve years each in prison. The leak, which included a collection of 11 million financial documents, implicated more than a hundred politicians, including then-heads of state and government, billionaires and sports stars. It also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax. The records were first leaked to the German newspaper Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists in 2016. Mr Mossack was present in the courtroom, while lawyers for Mr Fonseca said he was in a hospital in Panama. Mr Fonseca had served as a minister in Panamanian former President Juan Carlos Varela's government but stepped aside in 2016. Mossack Fonseca was shut down in 2018. ",BBC,09/04/2024,"['The trial of 27 people charged in connection with the Panama Papers money laundering scandal has started in a Panamanian criminal court.', ""The leak of secret financial documents in 2016 revealed how some of the world's wealthiest people stashed their assets in offshore companies."", 'The defendants include Jurgen Mossack and Ramon Fonseca Mora who founded the now defunct law firm, Mossack Fonseca.', 'They face money-laundering charges but say neither they, the firm nor its employees were involved in unlawful acts.', 'In 2017, the firm said it was the victim of a computer hack and that the information leaked was being misrepresented.', 'If found guilty, Mr Mossack and Mr Fonseca could face up to twelve years each in prison.', 'The leak, which included a collection of 11 million financial documents, implicated more than a hundred politicians, including then-heads of state and government, billionaires and sports stars.', 'It also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.', 'The records were first leaked to the German newspaper Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists in 2016.', 'Mr Mossack was present in the courtroom, while lawyers for Mr Fonseca said he was in a hospital in Panama.', ""Mr Fonseca had served as a minister in Panamanian former President Juan Carlos Varela's government but stepped aside in 2016."", 'Mossack Fonseca was shut down in 2018.']",-0.1079611745445361,It also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.,The trial of 27 people charged in connection with the Panama Papers money laundering scandal has started in a Panamanian criminal court.,,,,2024-04-10 -Will the total solar eclipse disrupt your cell service?,https://edition.cnn.com/2024/04/06/business/cell-service-disruption-solar-eclipse/index.html," - Updated - 2:40 PM EDT, Sat April 6, 2024 - ","As darkness envelops millions of people during Monday’s total solar eclipse, spectators will hold their cellphones skyward to capture the moment. But could the surge in cell usage cause networks to go dark? - - Across city centers and rural towns, network providers and public officials say they are preparing for significant increases in traffic on cellular and Wi-Fi networks, as floods of eclipse tourists put pressure on the major providers that keep networks online. - - The path of totality — where it’s possible to see the moon completely block the sun’s face — will draw thousands of tourists to states from Texas to Maine. Travelers will rely on the network infrastructure in those areas as they use social media, livestreams and video calls to commemorate their experience. - - The eclipse itself has no effect on wireless networks. But the influx of tourists to cities and towns creates an environment similar to a football game or a concert in a crowded stadium — the larger the crowd, the more difficult it can be to find a cell connection. - - “Any location that’s in the center of the path of totality is going to see a significant increase in cellphone usage, particularly during the period and shortly after totality,” said Caty Pilachowski, a professor of astronomy at Indiana University, Bloomington, in an interview with CNN. - - Bloomington, which last saw a total eclipse in 1869, will be in the path of totality on Monday and may host hundreds of thousands of visitors. - - “An eclipse is very often seen as a shared activity,” Pilachowski said, noting that people will be taking pictures and videos and sharing those images with others. - - AT&T anticipates an increase in network traffic as people “pick up their devices to capture and share content” during totality, according to a spokesperson for the company. - - When the last total solar eclipse cut a path across America in 2017, AT&T reported network usage spikes up to 15% around certain cell towers in the path of totality. But the company, which experienced an outage affecting millions in February, says it’s ready for Monday. “The eclipse itself will have no direct operational impact on our wireless network,” an AT&T spokesperson wrote in an email. - - And other major providers such as Verizon and T-Mobile echo AT&T’s confidence ahead of Monday’s celestial spectacle. - - “We do not expect any impact from the 2024 solar eclipse on the operation of our network,” Chris Serico, a spokesperson for Verizon, told CNN. - - Verizon says it has developed its US infrastructure across the eclipse path in the past year. Serico said the wireless provider has built and activated 19 new cell sites in Niagara and Erie counties in New York — locations along the path of totality — since the start of 2023. - - In Northeast Ohio, Verizon has activated 60 new cell sites in six counties positioned in the path of totality. In the Dallas area, Verizon has activated 375 new cell sites. - - “In areas where people may gather to experience this event, we’re confident the additional capacity we’ve layered into the network over the past few years will accommodate any increases in data usage,” Serico said. - - T-Mobile says it’s also deploying extra temporary cell sites that will be on stand-by in areas expecting high tourist traffic. These portable sites — cellular on wheels — are called COWs for short. - - Major cell providers also benefit from the innovation of 5G since the last eclipse. AT&T has expanded its 5G network to reach more than 295 million people in up to 24,500 cities and towns cross the US. - - “All 5G launches and upgrades have been layered into our network since the last solar eclipse stretched across the United States in 2017,” Verizon’s Serico said. - - In New York, which will experience its first total eclipse in nearly a century, state and local governments say they have coordinated with wireless providers for more than a year to prepare for the event. - - “The carriers are aware of the influx of people expected to visit New York for this event and they have conducted site audits and evaluated coverage maps,” said Heather Groll, a spokesperson for the New York State Division of Homeland Security and Emergency Services, in an email. - - Nonetheless, officials expect large influxes of visitors: Buffalo, NY, could see up to 1 million tourists, and Rochester, NY, is expecting between 300,000 and 500,000, according to Groll. This means people in those areas may experience standard disruptions to service. - - “Visitors and New Yorkers alike should expect that there will be limited coverage in places where there are large gatherings and plan accordingly,” Groll wrote in an email. - - While some cities can expect disruption, it all depends on the number of people using a tower and the area’s specific capacity, according to Lisa Winter, a program scientist at NASA. - - “It may be difficult in a crowded area if many people are using the same towers,” Winter said in an email. - - Bloomington has coordinated with service providers to deploy COWs in low coverage areas, said Rick Dietz, director of the city’s Information & Technology Services Department, in an email. - - He said providers are indicating regular calls should go through, but data services may be strained or unavailable. - - In Little Rock, Arkansas, city officials say they are not concerned about disruptions to cell service. - - “We know that state and federal government have allocated resources primarily for rural areas of the State that may have limited cell network access,” Little Rock spokesperson Aaron Sadler said in an email. “The City of Little Rock does not have the same coverage concerns and we are hopeful there are no network issues next week.” - - People traveling to see the eclipse should plan accordingly, including downloading maps and directions beforehand to have with them offline, in case of poor connection. - - Whether on your phone or not, most important, Pilachowski said, is to the enjoy the experience. - - “A total eclipse of the sun is unlike any other experience that a human being can have. It is so profound in giving us this connection to not just nature, but the universe,” she said. “We’re connected to the sun and the moon and a whole broad universe in a way that we don’t normally experience. And so it’s a profound moment that we want everyone to feel and to share.”",CNN,06/04/2024,"['As darkness envelops millions of people during Monday’s total solar eclipse, spectators will hold their cellphones skyward to capture the moment.', 'But could the surge in cell usage cause networks to go dark?', 'Across city centers and rural towns, network providers and public officials say they are preparing for significant increases in traffic on cellular and Wi-Fi networks, as floods of eclipse tourists put pressure on the major providers that keep networks online.', 'The path of totality — where it’s possible to see the moon completely block the sun’s face — will draw thousands of tourists to states from Texas to Maine.', 'Travelers will rely on the network infrastructure in those areas as they use social media, livestreams and video calls to commemorate their experience.', 'The eclipse itself has no effect on wireless networks.', 'But the influx of tourists to cities and towns creates an environment similar to a football game or a concert in a crowded stadium — the larger the crowd, the more difficult it can be to find a cell connection.', '“Any location that’s in the center of the path of totality is going to see a significant increase in cellphone usage, particularly during the period and shortly after totality,” said Caty Pilachowski, a professor of astronomy at Indiana University, Bloomington, in an interview with CNN.', 'Bloomington, which last saw a total eclipse in 1869, will be in the path of totality on Monday and may host hundreds of thousands of visitors.', '“An eclipse is very often seen as a shared activity,” Pilachowski said, noting that people will be taking pictures and videos and sharing those images with others.', 'AT&T anticipates an increase in network traffic as people “pick up their devices to capture and share content” during totality, according to a spokesperson for the company.', 'When the last total solar eclipse cut a path across America in 2017, AT&T reported network usage spikes up to 15% around certain cell towers in the path of totality.', 'But the company, which experienced an outage affecting millions in February, says it’s ready for Monday. “', 'The eclipse itself will have no direct operational impact on our wireless network,” an AT&T spokesperson wrote in an email.', 'And other major providers such as Verizon and T-Mobile echo AT&T’s confidence ahead of Monday’s celestial spectacle.', '“We do not expect any impact from the 2024 solar eclipse on the operation of our network,” Chris Serico, a spokesperson for Verizon, told CNN.', 'Verizon says it has developed its US infrastructure across the eclipse path in the past year.', 'Serico said the wireless provider has built and activated 19 new cell sites in Niagara and Erie counties in New York — locations along the path of totality — since the start of 2023.', 'In Northeast Ohio, Verizon has activated 60 new cell sites in six counties positioned in the path of totality.', 'In the Dallas area, Verizon has activated 375 new cell sites.', '“In areas where people may gather to experience this event, we’re confident the additional capacity we’ve layered into the network over the past few years will accommodate any increases in data usage,” Serico said.', 'T-Mobile says it’s also deploying extra temporary cell sites that will be on stand-by in areas expecting high tourist traffic.', 'These portable sites — cellular on wheels — are called COWs for short.', 'Major cell providers also benefit from the innovation of 5G since the last eclipse.', 'AT&T has expanded its 5G network to reach more than 295 million people in up to 24,500 cities and towns cross the US.', '“All 5G launches and upgrades have been layered into our network since the last solar eclipse stretched across the United States in 2017,” Verizon’s Serico said.', 'In New York, which will experience its first total eclipse in nearly a century, state and local governments say they have coordinated with wireless providers for more than a year to prepare for the event.', '“The carriers are aware of the influx of people expected to visit New York for this event and they have conducted site audits and evaluated coverage maps,” said Heather Groll, a spokesperson for the New York State Division of Homeland Security and Emergency Services, in an email.', 'Nonetheless, officials expect large influxes of visitors: Buffalo, NY, could see up to 1 million tourists, and Rochester, NY, is expecting between 300,000 and 500,000, according to Groll.', 'This means people in those areas may experience standard disruptions to service.', '“Visitors and New Yorkers alike should expect that there will be limited coverage in places where there are large gatherings and plan accordingly,” Groll wrote in an email.', 'While some cities can expect disruption, it all depends on the number of people using a tower and the area’s specific capacity, according to Lisa Winter, a program scientist at NASA.', '“It may be difficult in a crowded area if many people are using the same towers,” Winter said in an email.', 'Bloomington has coordinated with service providers to deploy COWs in low coverage areas, said Rick Dietz, director of the city’s Information & Technology Services Department, in an email.', 'He said providers are indicating regular calls should go through, but data services may be strained or unavailable.', 'In Little Rock, Arkansas, city officials say they are not concerned about disruptions to cell service.', '“We know that state and federal government have allocated resources primarily for rural areas of the State that may have limited cell network access,” Little Rock spokesperson Aaron Sadler said in an email. “', 'The City of Little Rock does not have the same coverage concerns and we are hopeful there are no network issues next week.”', 'People traveling to see the eclipse should plan accordingly, including downloading maps and directions beforehand to have with them offline, in case of poor connection.', 'Whether on your phone or not, most important, Pilachowski said, is to the enjoy the experience.', '“A total eclipse of the sun is unlike any other experience that a human being can have.', 'It is so profound in giving us this connection to not just nature, but the universe,” she said. “', 'We’re connected to the sun and the moon and a whole broad universe in a way that we don’t normally experience.', 'And so it’s a profound moment that we want everyone to feel and to share.”']",0.0246670864473676,Major cell providers also benefit from the innovation of 5G since the last eclipse.,"People traveling to see the eclipse should plan accordingly, including downloading maps and directions beforehand to have with them offline, in case of poor connection.",0.3109791766513478,"“In areas where people may gather to experience this event, we’re confident the additional capacity we’ve layered into the network over the past few years will accommodate any increases in data usage,” Serico said.","Across city centers and rural towns, network providers and public officials say they are preparing for significant increases in traffic on cellular and Wi-Fi networks, as floods of eclipse tourists put pressure on the major providers that keep networks online.",2024-04-10 -World of Warcraft: Popular game to return to China,https://www.bbc.co.uk/news/articles/czq5xyj2dw2o,2024-04-10T04:46:07.063Z,"Popular games such as World of Warcraft will be back in China this summer, according to Chinese video games giant NetEase. Last year, NetEase and game developer Activision Blizzard ended their 14-year partnership due to disagreement over intellectual property control. The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games. All games require a local publisher and licences from the Chinese government to operate there. The earlier disagreement escalated into an open feud that saw the two companies sue each other. But the tension eased after Microsoft acquired Activision Blizzard for $69bn (£54bn) in October last year which was the gaming industry's biggest ever deal. “We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. ""We are focused on bringing our universes back to players with excellence and dedication."" Other Blizzard titles which will return to China include Hearthstone, Warcraft, Overwatch, Diablo and StarCraft franchises. China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year. NetEase is the country's second-largest video games company by revenue after Tencent. Microsoft and NetEase also said that they have agreed to explore bringing new NetEase titles to Microsoft's Xbox gaming consoles and its other gaming platforms. “Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming. The lucrative sector has also had frequent run-ins with the authorities. Beijing first moved against the gaming sector in 2021, ruling that online gamers under the age of 18 would only be allowed to play for an hour on Fridays, weekends and holidays. Late last year, the authorities announced further restrictions to limit in-game purchases but China seems to have backtracked on strict rules to combat what the regulator deemed ""obsessive"" gaming. ",BBC,10/04/2024,"['Popular games such as World of Warcraft will be back in China this summer, according to Chinese video games giant NetEase.', 'Last year, NetEase and game developer Activision Blizzard ended their 14-year partnership due to disagreement over intellectual property control.', 'The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.', 'All games require a local publisher and licences from the Chinese government to operate there.', 'The earlier disagreement escalated into an open feud that saw the two companies sue each other.', ""But the tension eased after Microsoft acquired Activision Blizzard for $69bn (£54bn) in October last year which was the gaming industry's biggest ever deal. “"", 'We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. ""', 'We are focused on bringing our universes back to players with excellence and dedication.""', 'Other Blizzard titles which will return to China include Hearthstone, Warcraft, Overwatch, Diablo and StarCraft franchises.', ""China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year."", ""NetEase is the country's second-largest video games company by revenue after Tencent."", ""Microsoft and NetEase also said that they have agreed to explore bringing new NetEase titles to Microsoft's Xbox gaming consoles and its other gaming platforms. “"", 'Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming.', 'The lucrative sector has also had frequent run-ins with the authorities.', 'Beijing first moved against the gaming sector in 2021, ruling that online gamers under the age of 18 would only be allowed to play for an hour on Fridays, weekends and holidays.', 'Late last year, the authorities announced further restrictions to limit in-game purchases but China seems to have backtracked on strict rules to combat what the regulator deemed ""obsessive"" gaming.']",0.0883152421946721,"We are immensely grateful for the passion the Chinese community has shown for Blizzard games throughout the years,” Johanna Faries, president of Blizzard Entertainment, said in a statement. """,The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.,0.2293050050735473,"China is the world's biggest online gaming market, with its domestic revenue rising 13% to 303 billion yuan ($42bn; £33) at the end of last year.",The breakup sparked outcry with millions of Chinese internet users complaining that they would lose access to their favourite games.,2024-04-10 -"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html," - Updated - 8:16 AM EDT, Wed March 27, 2024 - ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours. - - On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.” - - “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.” - - Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory. - - “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials. - - In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others. - - Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.” - - “Has Cesar lost the room?” wondered a third media executive. - - While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists. - - “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform. - - Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.” - - Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC. - - Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to. - - NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports. - - While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course. - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-04-10 -US inflation jumps as fuel and housing costs rise,https://www.bbc.co.uk/news/business-68781482,2024-04-10T13:35:16.000Z,"Consumer prices in the US rose faster than expected last month, in a sign that the fight to slow inflation has stalled. Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said. Higher costs for fuel, housing, dining out and clothing drove the increase. Analysts warned the lack of progress will force the US central bank to keep interest rates higher for longer. Higher interest rates help stabilise prices by making it more expensive to borrow for business expansions and other spending. In theory, that in turn slows the economy, and eases the pressures pushing up prices. But the Federal Reserve's key interest rate is now set at the highest levels in more than two decades, in the range of 5.25%-5.5%. Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022. But recent economic data, including strong jobs creation figures last week, has raised doubts about how soon those cuts might come. Analysts, who once expected rate cuts as soon as March, have been rapidly revising bets, with many now not expecting any until later this summer and some predicting the bank could wait until next year. What the Fed decides to do is likely to shape decisions by central bankers all around the world, said Neil Birrell, chief investment officer at Premier Miton Diversified Funds. ""The Fed has got some head scratching to do and if other central banks were waiting for the Fed to move, they have got a conundrum on their hands now,"" he said. Inflation cooled rapidly over 2023 as pandemic-era supply issues healed and the spike in food and energy prices sparked by the war in Ukraine faded, but it still remains higher than the bank's 2% target. An uptick in oil prices prices in recent months has also pushed energy costs higher, while prices for services show little sign of stabilising. The Labor Department said prices jumped 0.4% from March to February, the same as in February. Higher petrol and housing costs accounted for more than half the increase. Car insurance, medical care and costs for internet also contributed. So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""We shouldn't overreact to the jump in headline inflation - which was all about energy,"" said Brian Coulton, chief economist at Fitch Ratings. But he added: ""The details are not at all reassuring for the Fed."" ",BBC,10/04/2024,"['Consumer prices in the US rose faster than expected last month, in a sign that the fight to slow inflation has stalled.', 'Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.', 'Higher costs for fuel, housing, dining out and clothing drove the increase.', 'Analysts warned the lack of progress will force the US central bank to keep interest rates higher for longer.', 'Higher interest rates help stabilise prices by making it more expensive to borrow for business expansions and other spending.', 'In theory, that in turn slows the economy, and eases the pressures pushing up prices.', ""But the Federal Reserve's key interest rate is now set at the highest levels in more than two decades, in the range of 5.25%-5.5%."", 'Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022.', 'But recent economic data, including strong jobs creation figures last week, has raised doubts about how soon those cuts might come.', 'Analysts, who once expected rate cuts as soon as March, have been rapidly revising bets, with many now not expecting any until later this summer and some predicting the bank could wait until next year.', 'What the Fed decides to do is likely to shape decisions by central bankers all around the world, said Neil Birrell, chief investment officer at Premier Miton Diversified Funds. ""', 'The Fed has got some head scratching to do and if other central banks were waiting for the Fed to move, they have got a conundrum on their hands now,"" he said.', ""Inflation cooled rapidly over 2023 as pandemic-era supply issues healed and the spike in food and energy prices sparked by the war in Ukraine faded, but it still remains higher than the bank's 2% target."", 'An uptick in oil prices prices in recent months has also pushed energy costs higher, while prices for services show little sign of stabilising.', 'The Labor Department said prices jumped 0.4% from March to February, the same as in February.', 'Higher petrol and housing costs accounted for more than half the increase.', 'Car insurance, medical care and costs for internet also contributed.', 'So-called core inflation, which is seen by economists as a better indicator of future trends because it does not include more volatile food and energy prices, stood at 3.8%, the same as in February. ""', 'We shouldn\'t overreact to the jump in headline inflation - which was all about energy,"" said Brian Coulton, chief economist at Fitch Ratings.', 'But he added: ""The details are not at all reassuring for the Fed.""']",0.1008307177690678,Higher interest rates help stabilise prices by making it more expensive to borrow for business expansions and other spending.,"Forecasters had expected the bank to start lowering borrowing costs this year, reflecting the fact that the inflation rate, which tracks the pace of price rises, has fallen significantly since hitting 9.1% in 2022.",0.5770586803555489,"Prices rose 3.5% over the 12 months to March, up from 3.2% in February, the US Labor Department said.",Analysts warned the lack of progress will force the US central bank to keep interest rates higher for longer.,2024-04-10 -The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html," - Updated - 12:22 PM EDT, Mon April 25, 2022 - ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. - - Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only. - - While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model. - - “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car. - - Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production. - - Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though. - - To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels. - - Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance. - - GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-04-10 -Abrdn hits out at 'corporate bullying' over name change,https://www.bbc.co.uk/news/business-68769562,2024-04-09T11:48:12.000Z,"An executive at a centuries-old investment firm has accused the media of ""corporate bullying"" after it changed its name to Abrdn. The asset manager rebranded from Standard Life Aberdeen three years ago, shortening its name and dropping the vowels. Chief investment officer Peter Branner complained the press was making ""childish"" jokes about the change. He said it would be unethical to treat an individual in the same way. In an interview with the trade publication Financial News, he said: ""I understand that corporate bullying to some extent is part of the game with the press, even though it's a little childish to keep hammering the missing vowels in our name."" The Financial Times responded by publishing a post that read ""Lv Abrdn aln"" (Leave Abrdn alone), while City AM ran with a front page on Tuesday that read ""Abrdn: an apology - sry we kp tkng th pss ot of yr mssng vwls"". The fund group was born out of the £3.8bn ($4.8bn) merger of Standard Life and Aberdeen Asset Management in 2017 and has its roots dating as far back as 1825. It proceeded with a name change in 2021 after offloading its UK and European life insurance arm and selling its Standard Life brand name to smaller rival Phoenix Group. Abrdn appointed branding agency Wolff Olins to advise on the change but has been on the receiving end of jibes ever since, with some suggesting the company suffers from ""irritable vowel syndrome"". Mr Branner told Financial News: ""Would you do that with an individual? How would you look at a person who makes fun of your name day in, day out? It's probably not ethical to do it, but apparently with companies it is different."" Other notable name changes that have been heavily criticised include Elon Musk's decision to rename Twitter as X last year, as well as the planned move to change Royal Mail to Consignia in 2001. An Abrdn spokesperson said: ''As Peter made clear in his interview, we appreciate it is for the media to make their own assessments about the companies they wish to write about."" ",BBC,09/04/2024,"['An executive at a centuries-old investment firm has accused the media of ""corporate bullying"" after it changed its name to Abrdn.', 'The asset manager rebranded from Standard Life Aberdeen three years ago, shortening its name and dropping the vowels.', 'Chief investment officer Peter Branner complained the press was making ""childish"" jokes about the change.', 'He said it would be unethical to treat an individual in the same way.', 'In an interview with the trade publication Financial News, he said: ""I understand that corporate bullying to some extent is part of the game with the press, even though it\'s a little childish to keep hammering the missing vowels in our name.""', 'The Financial Times responded by publishing a post that read ""Lv Abrdn aln"" (Leave Abrdn alone), while City AM ran with a front page on Tuesday that read ""Abrdn: an apology - sry we kp tkng th pss ot of yr mssng vwls"".', 'The fund group was born out of the £3.8bn ($4.8bn) merger of Standard Life and Aberdeen Asset Management in 2017 and has its roots dating as far back as 1825.', 'It proceeded with a name change in 2021 after offloading its UK and European life insurance arm and selling its Standard Life brand name to smaller rival Phoenix Group.', 'Abrdn appointed branding agency Wolff Olins to advise on the change but has been on the receiving end of jibes ever since, with some suggesting the company suffers from ""irritable vowel syndrome"".', 'Mr Branner told Financial News: ""Would you do that with an individual?', 'How would you look at a person who makes fun of your name day in, day out?', 'It\'s probably not ethical to do it, but apparently with companies it is different.""', ""Other notable name changes that have been heavily criticised include Elon Musk's decision to rename Twitter as X last year, as well as the planned move to change Royal Mail to Consignia in 2001."", 'An Abrdn spokesperson said: \'\'As Peter made clear in his interview, we appreciate it is for the media to make their own assessments about the companies they wish to write about.""']",-0.1130232895938554,"An Abrdn spokesperson said: ''As Peter made clear in his interview, we appreciate it is for the media to make their own assessments about the companies they wish to write about.""","Abrdn appointed branding agency Wolff Olins to advise on the change but has been on the receiving end of jibes ever since, with some suggesting the company suffers from ""irritable vowel syndrome"".",-0.7906963676214218,,"Abrdn appointed branding agency Wolff Olins to advise on the change but has been on the receiving end of jibes ever since, with some suggesting the company suffers from ""irritable vowel syndrome"".",2024-04-10 -Apple sparks Palestinian flag emoji controversy,https://www.bbc.co.uk/news/technology-68778830,2024-04-10T15:12:08.000Z,"Apple has been criticised after the Palestinian flag emoji was automatically suggested to iPhone users who type ""Jerusalem."" Both Israel and the Palestinians hold competing claims to the ancient city. TV presenter Rachel Riley, who is Jewish, noted on social media that national flags were not suggested for other capitals. Apple has told the BBC that the change - which followed a recent software update - was not intentional. The issue will be remedied in a future software update, Apple says, but it is not known how rapidly this will happen. Writing on X (formerly Twitter), Ms Riley demanded that Apple explain what had happened. ""Showing double standards with respect to Israel is a form of antisemitism"", she argued. The issue, according to Apple, relates to a feature called predictive emoji. iPhones can suggest emojis when words are typed in messages, and other apps. The notes accompanying the latest iOS update say that it includes ""new emojis."" The status of Jerusalem is one of the thorniest disputes in the conflict between Israel and the Palestinians. Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state. East Jerusalem, along with the West Bank and Gaza Strip, were captured by Israel from Jordan and Egypt in a war in 1967, and have since been viewed internationally as occupied Palestinian territory. This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians. Last year rival tech giant Meta had to apologise after a bug resulted in it adding ""terrorist"" to the biographies of some Instagram users describing themselves as Palestinian. Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products. ",BBC,10/04/2024,"['Apple has been criticised after the Palestinian flag emoji was automatically suggested to iPhone users who type ""Jerusalem.""', 'Both Israel and the Palestinians hold competing claims to the ancient city.', 'TV presenter Rachel Riley, who is Jewish, noted on social media that national flags were not suggested for other capitals.', 'Apple has told the BBC that the change - which followed a recent software update - was not intentional.', 'The issue will be remedied in a future software update, Apple says, but it is not known how rapidly this will happen.', 'Writing on X (formerly Twitter), Ms Riley demanded that Apple explain what had happened. ""', 'Showing double standards with respect to Israel is a form of antisemitism"", she argued.', 'The issue, according to Apple, relates to a feature called predictive emoji.', 'iPhones can suggest emojis when words are typed in messages, and other apps.', 'The notes accompanying the latest iOS update say that it includes ""new emojis.""', 'The status of Jerusalem is one of the thorniest disputes in the conflict between Israel and the Palestinians.', 'Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state.', 'East Jerusalem, along with the West Bank and Gaza Strip, were captured by Israel from Jordan and Egypt in a war in 1967, and have since been viewed internationally as occupied Palestinian territory.', 'This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians.', 'Last year rival tech giant Meta had to apologise after a bug resulted in it adding ""terrorist"" to the biographies of some Instagram users describing themselves as Palestinian.', 'Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products.']",-0.1742546137985572,"Israel sees the whole of Jerusalem as its eternal, undivided capital, while Palestinians claim the eastern part as the capital of their hoped-for future state.",This is not the first time a big tech company has found itself embroiled in the bitter dispute between Israel and the Palestinians.,-0.827385405699412,,"Meta said it fixed a problem ""that briefly caused inappropriate Arabic translations"" in some of its products.",2024-04-10 -"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html," - Published - 1:53 PM EDT, Fri March 22, 2024 - ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election. - - “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff. - - McDaniel exited the RNC earlier this month after leading the organization since 2016. - - During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions. - - McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks. - - In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.” - - “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked. - - McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.” - - An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC. - - In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest. - - McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online. - - In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election. - - “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.” - - In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election. - - “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.” - - NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president. - - Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny. - - MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-04-10 -NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html," - Updated - 7:44 PM EDT, Tue March 26, 2024 - ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press. - - “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.” - - “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.” - - Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said. - - The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network. - - McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election. - - As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.” - - In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism. - - NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring. - - Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.” - - “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media. - - The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.” - - “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.” - - Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy. - - “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers. - - Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts. - - “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said. - - “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“ - - The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said. - - In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.” - - “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-04-10 -3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html," - Published - 6:30 AM EDT, Tue March 26, 2024 - ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape. - - That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world. - - But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services. - - The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.” - - But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: - - If found liable, the company could be forced to change a number of things. - - One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform. - - According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers. - - “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.” - - At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway. - - The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said. - - Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on. - - The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue. - - In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data. - - The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same. - - Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem. - - Chatterjee said making this change would have both positives and negatives. - - “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said. - - The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware. - - The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience. - - David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless. - - “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said. - - Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere. - - “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said. - - But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users: If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-04-10 -Post Office scandal explained: What the Horizon saga is all about,https://www.bbc.co.uk/news/business-56718036,2021-04-21T23:08:36.000Z,"New legislation will clear and compensate sub-postmasters who were the victims of what has been called the UK's most widespread miscarriage of justice. Hundreds were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts. More than 900 sub-postmasters were wrongly prosecuted for stealing because of incorrect information from a computer system called Horizon. The Post Office itself took many cases to court, prosecuting 700 people between 1999 and 2015. Another 283 cases were brought by other bodies, including the Crown Prosecution Service (CPS). Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined. In 2017, a group of 555 sub-postmasters took legal action against the Post Office. In 2019, it agreed to pay them £58m in compensation, but much of the money went on legal fees. A draft report uncovered by the BBC showed the Post Office spent £100m fighting the group in court despite knowing its defence was untrue. The Post Office said it would be ""inappropriate"" to comment on the report. Although campaigners won the right for their cases to be reconsidered, only 95 convictions had been overturned by mid-January 2024. The Criminal Cases Review Commission said the scandal was ""the most widespread miscarriage of justice"" it had seen. The Metropolitan Police is also investigating the Post Office over potential fraud offences. Horizon was developed by the Japanese company Fujitsu, for tasks such as accounting and stocktaking. It was introduced by the Post Office in 1999. Sub-postmasters quickly complained about bugs in the system after it falsely reported shortfalls - often for many thousands of pounds - but their concerns were dismissed. The Horizon system is still used by the Post Office, which describes the latest version as ""robust"". A public inquiry began in February 2021 and has heard evidence from Post Office and Fujitsu employees. It resumed on Tuesday 9 April, with campaigner Alan Bates the first to appear. This fifth phase of the inquiry is expected to last several weeks, with former Post Office chief executives Paula Vennells and Adam Crozier set to give evidence. The inquiry will also hear from Lord Arbuthnot, who is a member of the Horizon Compensation Advisory Board, as well as several politicians who have overseen the work of the Post Office. Mr Bates was the inspiration for the ITV drama series Mr Bates vs The Post Office, which was broadcast in January 2024. Days later, the government announced new plans to clear and compensate those affected. Mr Bates told the inquiry that the Post Office has spent 23 years trying to ""discredit and silence"" him. Many former sub-postmasters and sub-postmistresses say the scandal ruined their lives. Some used their own money to cover non-existent shortfalls because their contracts said they were responsible for unexplained losses. Many faced bankruptcy or lost their livelihoods. Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death. In January, the government said it would ""swiftly exonerate and compensate"" those affected. New legislation was introduced on 13 March to speed up clearing victims' names and paying compensation. The law, which applies to convictions in England and Wales, is expected to clear most victims by the end of July. Convictions will be automatically quashed if they were: The government said a new scheme will process compensation applications ""as soon as possible"" for those whose convictions are quashed. Affected sub-postmasters will receive an interim payment, or can instead accept a fixed and final offer of £600,000. Downing Street previously said it would work with Scotland and Northern Ireland to ensure people wrongly accused in those nations would also be cleared. Post Office Minister Kevin Hollinrake previously said the government has budgeted £1bn for compensation. More than 4,000 people were told they are eligible, under three schemes: Prof Chris Hodges, chair of the the independent Horizon Compensation Advisory Board, told the BBC that some individual compensation claims were ""well over £1m"". Former Post Office chief executive Ms Vennells resigned in 2019 over the scandal. In January 2024, she said she would hand back her CBE. In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry. Fujitsu Europe director Paul Patterson previously told the Post Office inquiry that the firm had a ""moral obligation"" to help fund compensation payments. Lib Dem leader Sir Ed Davey has been criticised for refusing to meet Mr Bates when he was postal affairs minister in May 2010. He says he was ""deeply misled by Post Office executives"". The BBC discovered that former Prime Minister David Cameron's government knew the Post Office had dropped a secret investigation that might have helped postmasters prove their innocence. Separately, Business Secretary Kemi Badenoch denied claims from former Post Office chairman Henry Staunton that he was told to delay compensation payments to allow the government to ""limp into the [next] election"". ",BBC,21/04/2021,"[""New legislation will clear and compensate sub-postmasters who were the victims of what has been called the UK's most widespread miscarriage of justice."", 'Hundreds were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts.', 'More than 900 sub-postmasters were wrongly prosecuted for stealing because of incorrect information from a computer system called Horizon.', 'The Post Office itself took many cases to court, prosecuting 700 people between 1999 and 2015.', 'Another 283 cases were brought by other bodies, including the Crown Prosecution Service (CPS).', 'Many sub-postmasters went to prison for false accounting and theft, and several were financially ruined.', 'In 2017, a group of 555 sub-postmasters took legal action against the Post Office.', 'In 2019, it agreed to pay them £58m in compensation, but much of the money went on legal fees.', 'A draft report uncovered by the BBC showed the Post Office spent £100m fighting the group in court despite knowing its defence was untrue.', 'The Post Office said it would be ""inappropriate"" to comment on the report.', 'Although campaigners won the right for their cases to be reconsidered, only 95 convictions had been overturned by mid-January 2024.', 'The Criminal Cases Review Commission said the scandal was ""the most widespread miscarriage of justice"" it had seen.', 'The Metropolitan Police is also investigating the Post Office over potential fraud offences.', 'Horizon was developed by the Japanese company Fujitsu, for tasks such as accounting and stocktaking.', 'It was introduced by the Post Office in 1999.', 'Sub-postmasters quickly complained about bugs in the system after it falsely reported shortfalls - often for many thousands of pounds - but their concerns were dismissed.', 'The Horizon system is still used by the Post Office, which describes the latest version as ""robust"".', 'A public inquiry began in February 2021 and has heard evidence from Post Office and Fujitsu employees.', 'It resumed on Tuesday 9 April, with campaigner Alan Bates the first to appear.', 'This fifth phase of the inquiry is expected to last several weeks, with former Post Office chief executives Paula Vennells and Adam Crozier set to give evidence.', 'The inquiry will also hear from Lord Arbuthnot, who is a member of the Horizon Compensation Advisory Board, as well as several politicians who have overseen the work of the Post Office.', 'Mr Bates was the inspiration for the ITV drama series Mr Bates vs The Post Office, which was broadcast in January 2024.', 'Days later, the government announced new plans to clear and compensate those affected.', 'Mr Bates told the inquiry that the Post Office has spent 23 years trying to ""discredit and silence"" him.', 'Many former sub-postmasters and sub-postmistresses say the scandal ruined their lives.', 'Some used their own money to cover non-existent shortfalls because their contracts said they were responsible for unexplained losses.', 'Many faced bankruptcy or lost their livelihoods.', 'Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.', 'In January, the government said it would ""swiftly exonerate and compensate"" those affected.', ""New legislation was introduced on 13 March to speed up clearing victims' names and paying compensation."", 'The law, which applies to convictions in England and Wales, is expected to clear most victims by the end of July.', 'Convictions will be automatically quashed if they were: The government said a new scheme will process compensation applications ""as soon as possible"" for those whose convictions are quashed.', 'Affected sub-postmasters will receive an interim payment, or can instead accept a fixed and final offer of £600,000.', 'Downing Street previously said it would work with Scotland and Northern Ireland to ensure people wrongly accused in those nations would also be cleared.', 'Post Office Minister Kevin Hollinrake previously said the government has budgeted £1bn for compensation.', 'More than 4,000 people were told they are eligible, under three schemes: Prof Chris Hodges, chair of the the independent Horizon Compensation Advisory Board, told the BBC that some individual compensation claims were ""well over £1m"".', 'Former Post Office chief executive Ms Vennells resigned in 2019 over the scandal.', 'In January 2024, she said she would hand back her CBE.', 'In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.', 'Fujitsu Europe director Paul Patterson previously told the Post Office inquiry that the firm had a ""moral obligation"" to help fund compensation payments.', 'Lib Dem leader Sir Ed Davey has been criticised for refusing to meet Mr Bates when he was postal affairs minister in May 2010.', 'He says he was ""deeply misled by Post Office executives"".', ""The BBC discovered that former Prime Minister David Cameron's government knew the Post Office had dropped a secret investigation that might have helped postmasters prove their innocence."", 'Separately, Business Secretary Kemi Badenoch denied claims from former Post Office chairman Henry Staunton that he was told to delay compensation payments to allow the government to ""limp into the [next] election"".']",-0.0503384031934611,"In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",-0.7225653827190399,"In August 2023, current chief executive Nick Read said he would return bonus money awarded for his work on the Horizon inquiry.","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",2024-04-10 -Passport price to rise for second time in 14 months in the UK,https://www.bbc.co.uk/news/business-68778006,2024-04-10T09:46:41.000Z,"The price of a UK passport will rise on Thursday, for the second time in just over 14 months. The cost of applying online to get a new or renewed adult passport will go up from £82.50 to £88.50 from midnight. This 7% rise follows a 9% rise in February 2023. Consumer group Which? said travellers due to renew would ""likely be shocked"" by the hike. The Home Office said it did not make a profit from the applications and the fee rise would help improve services. Which? Travel expert Guy Hobbs said: ""If you've been meaning to renew your passport, today is your last opportunity to beat the price hikes."" The cost of applying for a child's passport online is also going up from £53.50 to £57.50. If you apply by post the price rises from £64 to £69. A postal application for an adult passport will rise from £93 to £100. It costs more if you apply from abroad, or if you require a passport urgently. Passports are free for people born on or before 2 September 1929. Prior to last year's rise, passport fees had not gone up for five years and a standard adult online application cost £75.50. The Post Office, meanwhile, said its ""check and send"" service will still be on offer for £16. Mr Hobbs at Which? said: ""The cost of renewing a passport has jumped significantly in the last few years, with this latest price hike following hot on the heels of a hefty 9% rise just last year."" He added: ""While these price rises may well reflect rising production or processing costs, the UK passport is now amongst the priciest in Europe."" The online cost of an £88.50 UK passport is among the most expensive in Europe. The UK comes in behind countries like Switzerland (£122), Denmark (£103) and Italy (£99.50). The cost of a US passport, meanwhile, is £103. One reader called Ian told the BBC: ""The quality of these new passports is shocking. Although I use mine very often the gold embossing on the front is completely worn off."" Martyn James, a consumer rights campaigner, said: ""Just because a business or organisation can raise prices doesn't mean they should. The starting point with any price increase - and this is 16 percentage points over 14 months - should be what are you doing to make the service better."" In the aftermath of the Covid pandemic hundreds of thousands of people were affected by passport processing delays, with many experiencing travel disruptions. Some 360,000 customers waited more than 10 weeks to receive their passports in the first nine months of 2022, the National Audit Office found. Mr James said: ""The Passport Office has struggled with meeting its basic obligations, so many users will question what they are getting for their money."" Another reader, Hugh from Cheshire, however, told the BBC that he applied online and got his renewal within a week. ""It lasts me for 10 years, so just £8.25 per year."" The Home Office said the higher overall fees would go towards the cost of delivering passports and reduce the reliance on funding from tax. Separately, holidaymakers travelling to the EU are being warned not to get caught out by the ""passport 10-year rule"". UK travellers used to be able to carry up to nine months from an old passport over on to a new one. But post-Brexit, EU countries will not accept passports issued more than 10 years ago. Up to 32 million people applied for passports before the new rules, but it is unknown how many have been affected. Travel association ABTA on Wednesday reminded travellers to follow existing rules for airport security regarding liquids and hand luggage. It comes after the government extended the deadline for UK airports to install new security scanners, which would have brought an end to the 100ml liquid limit. Have you experienced delivery delays of your passport recently? Share your experiences by emailing haveyoursay@bbc.co.uk. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission. ",BBC,10/04/2024,"['The price of a UK passport will rise on Thursday, for the second time in just over 14 months.', 'The cost of applying online to get a new or renewed adult passport will go up from £82.50 to £88.50 from midnight.', 'This 7% rise follows a 9% rise in February 2023.', 'Consumer group Which?', 'said travellers due to renew would ""likely be shocked"" by the hike.', 'The Home Office said it did not make a profit from the applications and the fee rise would help improve services.', 'Which?', 'Travel expert Guy Hobbs said: ""If you\'ve been meaning to renew your passport, today is your last opportunity to beat the price hikes.""', ""The cost of applying for a child's passport online is also going up from £53.50 to £57.50."", 'If you apply by post the price rises from £64 to £69.', 'A postal application for an adult passport will rise from £93 to £100.', 'It costs more if you apply from abroad, or if you require a passport urgently.', 'Passports are free for people born on or before 2 September 1929.', ""Prior to last year's rise, passport fees had not gone up for five years and a standard adult online application cost £75.50."", 'The Post Office, meanwhile, said its ""check and send"" service will still be on offer for £16.', 'Mr Hobbs at Which?', 'said: ""The cost of renewing a passport has jumped significantly in the last few years, with this latest price hike following hot on the heels of a hefty 9% rise just last year.""', 'He added: ""While these price rises may well reflect rising production or processing costs, the UK passport is now amongst the priciest in Europe.""', 'The online cost of an £88.50 UK passport is among the most expensive in Europe.', 'The UK comes in behind countries like Switzerland (£122), Denmark (£103) and Italy (£99.50).', 'The cost of a US passport, meanwhile, is £103.', 'One reader called Ian told the BBC: ""The quality of these new passports is shocking.', 'Although I use mine very often the gold embossing on the front is completely worn off.""', 'Martyn James, a consumer rights campaigner, said: ""Just because a business or organisation can raise prices doesn\'t mean they should.', 'The starting point with any price increase - and this is 16 percentage points over 14 months - should be what are you doing to make the service better.""', 'In the aftermath of the Covid pandemic hundreds of thousands of people were affected by passport processing delays, with many experiencing travel disruptions.', 'Some 360,000 customers waited more than 10 weeks to receive their passports in the first nine months of 2022, the National Audit Office found.', 'Mr James said: ""The Passport Office has struggled with meeting its basic obligations, so many users will question what they are getting for their money.""', 'Another reader, Hugh from Cheshire, however, told the BBC that he applied online and got his renewal within a week. ""', 'It lasts me for 10 years, so just £8.25 per year.""', 'The Home Office said the higher overall fees would go towards the cost of delivering passports and reduce the reliance on funding from tax.', 'Separately, holidaymakers travelling to the EU are being warned not to get caught out by the ""passport 10-year rule"".', 'UK travellers used to be able to carry up to nine months from an old passport over on to a new one.', 'But post-Brexit, EU countries will not accept passports issued more than 10 years ago.', 'Up to 32 million people applied for passports before the new rules, but it is unknown how many have been affected.', 'Travel association ABTA on Wednesday reminded travellers to follow existing rules for airport security regarding liquids and hand luggage.', 'It comes after the government extended the deadline for UK airports to install new security scanners, which would have brought an end to the 100ml liquid limit.', 'Have you experienced delivery delays of your passport recently?', 'Share your experiences by emailing haveyoursay@bbc.co.uk.', 'Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk."", 'Please include your name, age and location with any submission.']",0.0456679376889854,Travel association ABTA on Wednesday reminded travellers to follow existing rules for airport security regarding liquids and hand luggage.,"In the aftermath of the Covid pandemic hundreds of thousands of people were affected by passport processing delays, with many experiencing travel disruptions.",0.3688118921385871,"said: ""The cost of renewing a passport has jumped significantly in the last few years, with this latest price hike following hot on the heels of a hefty 9% rise just last year.""","He added: ""While these price rises may well reflect rising production or processing costs, the UK passport is now amongst the priciest in Europe.""",2024-04-10 -The US Postal Service wants to hike stamp prices again in July. Here’s how much you’ll pay,https://edition.cnn.com/2024/04/10/business/stamp-prices-increase-usps/index.html," - Updated - 8:17 AM EDT, Wed April 10, 2024 - ","Stamp prices are set to increase — again. - - The US Postal Service filed a notice with its regulators to increase prices on First-Class “Forever” stamps to 73 cents from 68 cents, marking yet another price hike for the financially beleaguered federal agency. - - If approved by the Postal Regulatory Commission, the change would take effect in July, raising the cost of mailing services products by nearly 8%. - - Stamp prices alone have soared 36% since 2019 when they used to cost 50 cents. The Postal Service last raised First-Class stamp prices by two cents in January, just a few months after it raised prices three cents in July 2023. - - In a statement, the USPS said that the “price adjustments are needed to achieve the financial stability” sought in the agency’s 10-year plan announced by Postmaster General Louis DeJoy in 2021 to make it more competitive and more modern. - - “USPS prices remain among the most affordable in the world,” the statement said. - - Other changes include domestic postcard prices increasing from 53 cents to 56 cents and international postcard prices increasing from $1.55 to $1.65. - - It’s rare, but not unheard of, for the regulators to decline USPS requests; they did so in 2010. The Postal Regulatory Commission denied a price hike because, according to its statement at the time, USPS “failed both to quantify the impact of the recession on its finances and to show how its rate request relates to the resulting loss of mail volume.” - - First-Class mail is becoming a smaller part of the Postal Service’s business because of online communication. The number of individual letters sent each year has fallen by about half in the past decade. - - DeJoy, appointed during the Trump administration, has pursued sweeping changes during his tenure to try to bolster the agency’s finances. USPS expects to lose $6.3 billion in 2024.",CNN,10/04/2024,"['Stamp prices are set to increase — again.', 'The US Postal Service filed a notice with its regulators to increase prices on First-Class “Forever” stamps to 73 cents from 68 cents, marking yet another price hike for the financially beleaguered federal agency.', 'If approved by the Postal Regulatory Commission, the change would take effect in July, raising the cost of mailing services products by nearly 8%.', 'Stamp prices alone have soared 36% since 2019 when they used to cost 50 cents.', 'The Postal Service last raised First-Class stamp prices by two cents in January, just a few months after it raised prices three cents in July 2023.', 'In a statement, the USPS said that the “price adjustments are needed to achieve the financial stability” sought in the agency’s 10-year plan announced by Postmaster General Louis DeJoy in 2021 to make it more competitive and more modern.', '“USPS prices remain among the most affordable in the world,” the statement said.', 'Other changes include domestic postcard prices increasing from 53 cents to 56 cents and international postcard prices increasing from $1.55 to $1.65.', 'It’s rare, but not unheard of, for the regulators to decline USPS requests; they did so in 2010.', 'The Postal Regulatory Commission denied a price hike because, according to its statement at the time, USPS “failed both to quantify the impact of the recession on its finances and to show how its rate request relates to the resulting loss of mail volume.”', 'First-Class mail is becoming a smaller part of the Postal Service’s business because of online communication.', 'The number of individual letters sent each year has fallen by about half in the past decade.', 'DeJoy, appointed during the Trump administration, has pursued sweeping changes during his tenure to try to bolster the agency’s finances.', 'USPS expects to lose $6.3 billion in 2024.']",-0.0375008187333765,"If approved by the Postal Regulatory Commission, the change would take effect in July, raising the cost of mailing services products by nearly 8%.","The Postal Regulatory Commission denied a price hike because, according to its statement at the time, USPS “failed both to quantify the impact of the recession on its finances and to show how its rate request relates to the resulting loss of mail volume.”",0.037438678741455,Stamp prices alone have soared 36% since 2019 when they used to cost 50 cents.,The number of individual letters sent each year has fallen by about half in the past decade.,2024-04-10 -The Toyota 4Runner is finally entering the future with a hybrid,https://edition.cnn.com/2024/04/09/business/toyotas-adds-4runner-off-road-suv-to-its-hybrid-line-up/index.html," - Updated - 10:53 PM EDT, Tue April 9, 2024 - ","It’s been almost 15 years since there has been any major change to the popular Toyota 4Runner SUV, a fan favorite among off-road enthusiasts. But an all-new version is finally coming, and among the most notable changes is the addition of a hybrid option. - - The 4Runner shares a lot of its engineering, and a lot of history, with Toyota pickups. The very first 4Runner, introduced about 40 years ago, was essentially a modified four-wheel-drive Toyota pickup, and, in this new generation the two models are again closely related. - - The new 2025 Toyota 4Runner, like the Tacoma, will be available with Toyota’s iForce Max hybrid system, adding another popular model to Toyota’s broadening hybrid line-up. It comes as more consumers, who may be wary of buying fully electric vehicles, are increasingly turning to hybrids. - - Since the beginning of 2023, hybrids have risen from about 6% of all new vehicles sold, a little less than electric vehicles at that time, to nearly 9% now, according to data from Edmnds.com. EV market share, meanwhile, is about the same as it was then. - - The hybrid system in the 4Runner adds a 48 horsepower electric motor to a turbocharged 4-cylinder engine to produce up to 326 horsepower in total. This version will be the most powerful 4Runner offered yet, although cheaper, less powerful gas-only versions will also be available. - - Adding a hybrid option to the 4Runner is part of Toyota’s broad strategy to “electrify” nearly every model in the automaker’s line-up while, for now, offering few fully electric vehicles. (Toyota currently sells only one electric model, the BZ4X, and one Lexus luxury EV in the US.) Toyota executives have long said that hybrid vehicles – which use an electric motor to assist a gas engine in driving a vehicle – offer broad benefits in greenhouse gas reductions, with less cost and inconvenience for consumers than fully electric vehicles. - - Critics, however, complain that Toyota’s insistence on offering hybrids instead of more electric vehicles – and its lobbying against government EV requirements – are holding back the auto industry’s EV transition. Consumers have responded positively, though, and Toyota’s hybrids have become extremely popular even as growth in sales of electric vehicles has slowed. - - Besides the Tacoma, which is also popular with off-road enthusiasts, the 4Runner will join a new retro-styled Land Cruiser in a trio of off-road-focused 4-cylinder hybrid models. The Land Cruiser will come only as a hybrid while, both the 4Runner and Tacoma will have hybrid power as an option. Toyota also now sells the larger, more powerful, Tundra pickup in an iForce Max hybrid version, but with a bigger six-cylinder gas engine. - - Hybrids can provide greatly increased fuel economy because they allow the gas engine to be shut off when the vehicle is stopped, or when only a little power is needed. Energy to run the electric motor is taken from the gas engine at times, and also during braking. - - Besides fuel economy, a hybrid’s electric motor can also provide benefits in off-road driving because of its ability to produce additional power, as in the 4Runner. Jeep has had a huge sales success with its Wrangler 4Xe, a plug-in hybrid with batteries that can be charged using an electric vehicle charger as well as from the SUV’s own gas engine. - - New engineering will provide a smoother on-road ride than the current rather stiff-riding 4Runner model, Toyota promises. The new 4Runner retains some functional features that are particularly important such as the roll-down back window, which allows long items to hang out the back. Side windows in the back wrap up over the roof, slightly, a design cue taken from the first generation of 4Runners in the 1980s. - - The 2025 4Runner will be available in a new off-road-tuned Trailhunter version as well as more luxurious Limited and Platinum versions. There will a number less well-equipped and cheaper versions, as well, of course. - - Some less expensive 4Runner models will be available with rear-wheel-drive only, while others will have a part-time four-wheel-drive system, designed to be turned off when driving on dry pavement. Others will have a permanent four-wheel-drive system. - - Toyota has not yet provided pricing or fuel economy information for the new 4Runner. Prices for the current of the 4Runner start at around $41,000.",CNN,09/04/2024,"['It’s been almost 15 years since there has been any major change to the popular Toyota 4Runner SUV, a fan favorite among off-road enthusiasts.', 'But an all-new version is finally coming, and among the most notable changes is the addition of a hybrid option.', 'The 4Runner shares a lot of its engineering, and a lot of history, with Toyota pickups.', 'The very first 4Runner, introduced about 40 years ago, was essentially a modified four-wheel-drive Toyota pickup, and, in this new generation the two models are again closely related.', 'The new 2025 Toyota 4Runner, like the Tacoma, will be available with Toyota’s iForce Max hybrid system, adding another popular model to Toyota’s broadening hybrid line-up.', 'It comes as more consumers, who may be wary of buying fully electric vehicles, are increasingly turning to hybrids.', 'Since the beginning of 2023, hybrids have risen from about 6% of all new vehicles sold, a little less than electric vehicles at that time, to nearly 9% now, according to data from Edmnds.com.', 'EV market share, meanwhile, is about the same as it was then.', 'The hybrid system in the 4Runner adds a 48 horsepower electric motor to a turbocharged 4-cylinder engine to produce up to 326 horsepower in total.', 'This version will be the most powerful 4Runner offered yet, although cheaper, less powerful gas-only versions will also be available.', 'Adding a hybrid option to the 4Runner is part of Toyota’s broad strategy to “electrify” nearly every model in the automaker’s line-up while, for now, offering few fully electric vehicles. (', 'Toyota currently sells only one electric model, the BZ4X, and one Lexus luxury EV in the US.)', 'Toyota executives have long said that hybrid vehicles – which use an electric motor to assist a gas engine in driving a vehicle – offer broad benefits in greenhouse gas reductions, with less cost and inconvenience for consumers than fully electric vehicles.', 'Critics, however, complain that Toyota’s insistence on offering hybrids instead of more electric vehicles – and its lobbying against government EV requirements – are holding back the auto industry’s EV transition.', 'Consumers have responded positively, though, and Toyota’s hybrids have become extremely popular even as growth in sales of electric vehicles has slowed.', 'Besides the Tacoma, which is also popular with off-road enthusiasts, the 4Runner will join a new retro-styled Land Cruiser in a trio of off-road-focused 4-cylinder hybrid models.', 'The Land Cruiser will come only as a hybrid while, both the 4Runner and Tacoma will have hybrid power as an option.', 'Toyota also now sells the larger, more powerful, Tundra pickup in an iForce Max hybrid version, but with a bigger six-cylinder gas engine.', 'Hybrids can provide greatly increased fuel economy because they allow the gas engine to be shut off when the vehicle is stopped, or when only a little power is needed.', 'Energy to run the electric motor is taken from the gas engine at times, and also during braking.', 'Besides fuel economy, a hybrid’s electric motor can also provide benefits in off-road driving because of its ability to produce additional power, as in the 4Runner.', 'Jeep has had a huge sales success with its Wrangler 4Xe, a plug-in hybrid with batteries that can be charged using an electric vehicle charger as well as from the SUV’s own gas engine.', 'New engineering will provide a smoother on-road ride than the current rather stiff-riding 4Runner model, Toyota promises.', 'The new 4Runner retains some functional features that are particularly important such as the roll-down back window, which allows long items to hang out the back.', 'Side windows in the back wrap up over the roof, slightly, a design cue taken from the first generation of 4Runners in the 1980s.', 'The 2025 4Runner will be available in a new off-road-tuned Trailhunter version as well as more luxurious Limited and Platinum versions.', 'There will a number less well-equipped and cheaper versions, as well, of course.', 'Some less expensive 4Runner models will be available with rear-wheel-drive only, while others will have a part-time four-wheel-drive system, designed to be turned off when driving on dry pavement.', 'Others will have a permanent four-wheel-drive system.', 'Toyota has not yet provided pricing or fuel economy information for the new 4Runner.', 'Prices for the current of the 4Runner start at around $41,000.']",0.2351227236789065,"It’s been almost 15 years since there has been any major change to the popular Toyota 4Runner SUV, a fan favorite among off-road enthusiasts.","Critics, however, complain that Toyota’s insistence on offering hybrids instead of more electric vehicles – and its lobbying against government EV requirements – are holding back the auto industry’s EV transition.",0.5564012196328905,"Since the beginning of 2023, hybrids have risen from about 6% of all new vehicles sold, a little less than electric vehicles at that time, to nearly 9% now, according to data from Edmnds.com.","Critics, however, complain that Toyota’s insistence on offering hybrids instead of more electric vehicles – and its lobbying against government EV requirements – are holding back the auto industry’s EV transition.",2024-04-10 -Delta posts strong earnings in tough quarter for US airlines,https://edition.cnn.com/2024/04/10/business/delta-earnings/index.html," - Updated - 8:19 AM EDT, Wed April 10, 2024 - ","Delta Air Lines reported vastly improved earnings in the first quarter, and the company said results should remain strong the rest of the year. - - The Atlanta-based airline said its adjusted earnings came in at $380 million, or 45 cents a share, up from $217 million, up 75% from a year earlier. It easily topped Wall Street analysts’ consensus forecast of 36 cents a share. - - Revenue of $12.6 billion was up 6% and a record for the first three months of the year. It posted the increase despite the average revenue passengers paid to fly every mile slipping 2% in the period. Passenger revenue when adjusted for capacity, another measure of fares, was flat compared to a year ago. The first quarter is typically the least profitable period of the year for US airlines. - - Delta predicted it would report record revenue in the second quarter, it said it expects thinner profit margins. So it now expects earnings per share of between $2.20 to $2.50, which would be down from the record adjusted earnings per share of $2.64 a year ago. But it said it remains on target to reach full-year of $6 to $7 per share, which could be above the $6.25 a share it reported for 2023. - - Delta has been less affected that some of its major rivals whose operations were disrupted by problems at Boeing. Delta has no 737 Max jets in its fleet currently, although it has placed orders for some of the jets. Only about half of its mainline jets come from Boeing, compared to about 80% of United Airlines’ fleet, and 100% of the planes flown by Southwest. - - And this is expected to be a difficult quarter for the US airline industry, with all the other US airlines among America’s nine largest carriers forecast to report losses in the period, whether or not they fly Boeing or Airbus jets. With fares flat to lower and costs including labor and fuel rising, making a profit in the historically slow period is likely to prove difficult. - - Delta CEO Ed Bastian said there is strong demand going forward though. The airline had its 11 busiest days for booking tickets in its history during the course of the quarter, and he says demand for business travel has been especially strong. - - But he acknowledged that there are rising concerns about airline safety in the wake of a January 5 Alaska Airlines flight in which the door plug of a 737 Max blew off, leaving a gaping hole in the side of the 737 Max flight. Subsequent incidents reported in the media have only added to passenger worries. - - “The headlines, you can’t escape it,” he said, but noted that safety at Delta, as well as at other airlines, is a top priority. - - “US aviation travel is the safest form of transportation in the world,” he added. “It’s safer than driving, it’s safer than trains, it’s safer than walking.” - - Delta has not taken a delivery of a Boeing jet since 2019. In July 2022 it placed an order for 100 of the Boeing 737 Max 10 jets, the largest version of the Max. It was originally due to start taking deliveries of those jets next year. - - The Federal Aviation Administration has yet to certify that plane to carry passengers, but criticism of Boeing’s safety and the quality controls in the wake of the Alaska Air incident prompted Boeing to withdraw its request for a waiver necessary to get certification this year. - - That incident prompted United Airlines CEO Scott Kirby to announce it was no longer counting on the 737 Max 10 planes it had already ordered from Boeing, saying the problem was the “straw that broke the camel’s back” for the airline’s expectations for the plane. Bastian didn’t sound much more hopeful for when Delta might get the Max 10 jets it ordered. - - “I’m confident it will deliver at some point,” he said. “Whether it’s two years, three years, four years from now, I don’t think anyone knows.” - - Shares of Delta gained 4% in premarket trading on the report. - - This story has been updated with additional reporting and context.",CNN,10/04/2024,"['Delta Air Lines reported vastly improved earnings in the first quarter, and the company said results should remain strong the rest of the year.', 'The Atlanta-based airline said its adjusted earnings came in at $380 million, or 45 cents a share, up from $217 million, up 75% from a year earlier.', 'It easily topped Wall Street analysts’ consensus forecast of 36 cents a share.', 'Revenue of $12.6 billion was up 6% and a record for the first three months of the year.', 'It posted the increase despite the average revenue passengers paid to fly every mile slipping 2% in the period.', 'Passenger revenue when adjusted for capacity, another measure of fares, was flat compared to a year ago.', 'The first quarter is typically the least profitable period of the year for US airlines.', 'Delta predicted it would report record revenue in the second quarter, it said it expects thinner profit margins.', 'So it now expects earnings per share of between $2.20 to $2.50, which would be down from the record adjusted earnings per share of $2.64 a year ago.', 'But it said it remains on target to reach full-year of $6 to $7 per share, which could be above the $6.25 a share it reported for 2023.', 'Delta has been less affected that some of its major rivals whose operations were disrupted by problems at Boeing.', 'Delta has no 737 Max jets in its fleet currently, although it has placed orders for some of the jets.', 'Only about half of its mainline jets come from Boeing, compared to about 80% of United Airlines’ fleet, and 100% of the planes flown by Southwest.', 'And this is expected to be a difficult quarter for the US airline industry, with all the other US airlines among America’s nine largest carriers forecast to report losses in the period, whether or not they fly Boeing or Airbus jets.', 'With fares flat to lower and costs including labor and fuel rising, making a profit in the historically slow period is likely to prove difficult.', 'Delta CEO Ed Bastian said there is strong demand going forward though.', 'The airline had its 11 busiest days for booking tickets in its history during the course of the quarter, and he says demand for business travel has been especially strong.', 'But he acknowledged that there are rising concerns about airline safety in the wake of a January 5 Alaska Airlines flight in which the door plug of a 737 Max blew off, leaving a gaping hole in the side of the 737 Max flight.', 'Subsequent incidents reported in the media have only added to passenger worries.', '“The headlines, you can’t escape it,” he said, but noted that safety at Delta, as well as at other airlines, is a top priority.', '“US aviation travel is the safest form of transportation in the world,” he added. “', 'It’s safer than driving, it’s safer than trains, it’s safer than walking.”', 'Delta has not taken a delivery of a Boeing jet since 2019.', 'In July 2022 it placed an order for 100 of the Boeing 737 Max 10 jets, the largest version of the Max.', 'It was originally due to start taking deliveries of those jets next year.', 'The Federal Aviation Administration has yet to certify that plane to carry passengers, but criticism of Boeing’s safety and the quality controls in the wake of the Alaska Air incident prompted Boeing to withdraw its request for a waiver necessary to get certification this year.', 'That incident prompted United Airlines CEO Scott Kirby to announce it was no longer counting on the 737 Max 10 planes it had already ordered from Boeing, saying the problem was the “straw that broke the camel’s back” for the airline’s expectations for the plane.', 'Bastian didn’t sound much more hopeful for when Delta might get the Max 10 jets it ordered.', '“I’m confident it will deliver at some point,” he said. “', 'Whether it’s two years, three years, four years from now, I don’t think anyone knows.”', 'Shares of Delta gained 4% in premarket trading on the report.', 'This story has been updated with additional reporting and context.']",0.217107201269336,"“The headlines, you can’t escape it,” he said, but noted that safety at Delta, as well as at other airlines, is a top priority.","And this is expected to be a difficult quarter for the US airline industry, with all the other US airlines among America’s nine largest carriers forecast to report losses in the period, whether or not they fly Boeing or Airbus jets.",0.1441646292805671,Revenue of $12.6 billion was up 6% and a record for the first three months of the year.,"Passenger revenue when adjusted for capacity, another measure of fares, was flat compared to a year ago.",2024-04-10 -Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html," - Updated - 4:19 PM EST, Mon November 20, 2023 - ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg. - - Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17. - - That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company. - - Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft. - - Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive. - - Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech. - - Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires. - - “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday. - - Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-04-10 -Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html," - Published - 7:49 AM EDT, Wed April 27, 2022 - ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales. - - Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag. - - “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst. - - He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period. - - Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. - - “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” - - Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said. - - “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone. - - “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” - - This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds. - - The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output. - - Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious. - - Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas. - - Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot. - - Although its slice is growing, the market share for man-made diamonds remains relatively small. - - Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. - - Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora - - (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. - - Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it. - - Signet, - - (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts. - - Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. - - The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. - - Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it. - - “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.” - - Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting. - - There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. - - So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. - - But the value of a ring isn’t just monetary. - - “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet, (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-04-10 -HSBC agrees to sell off its Argentina business,https://www.bbc.co.uk/news/world-latin-america-68775630,2024-04-09T20:32:37.000Z,"Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate. HSBC Argentina, which has more than 100 branches and 3,100 employees, will be bought by Grupo Financiero Galicia, a major private financial group. Annual inflation in Argentina hit 276.2% last month, the highest in the world. Five years ago, $1 would buy 43 pesos. It is now worth more than 860 pesos. HSBC has been in Argentina since 1997, when it took full control of the local Banco Roberts and renamed it. That same year, it established itself in neighbouring Brazil by taking over the ailing Bamerindus bank, leading some observers to speak of its ""relentless march into Latin America"". HSBC still holds on in Brazil, but purely as an investment bank: it sold its retail banking operation there in 2015. Other operations elsewhere in the world have been sold off in recent years as the London-based bank has pivoted to focus more on faster-growing markets in Asia. HSBC said the sale of its Argentine business, for $550m, will see it book a $1bn loss in its first-quarter results this year. The size of the loss could vary for several reasons, including ""associated hyperinflation and foreign currency translation"", HSBC said on Tuesday. Over the next 12 months, the business will also recognise $4.9bn in losses from historical currency translation reserves. This refers to the loss that is racked up by translating the financial performance of the Argentine business, which is counted in pesos, on to HSBC's overall balance sheet, which is counted in US dollars. ""These reserve losses have accumulated over many years and arise from the cumulative translation of the Argentinian peso-denominated book value of HSBC Argentina into US dollars,"" HSBC said. In 2023 alone, these losses grew by $1.8bn, the bank added. The exact losses may well change between now and when the sale goes through, because the exchange rate is constantly changing. HSBC chief executive Noel Quinn said: ""We are pleased to agree the sale of HSBC Argentina. ""This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher-value opportunities across our international network. ""HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. ""Furthermore, given its size, it also generates substantial earnings volatility for the group when its results are translated into US dollars. Galicia is better placed to invest in and grow the business."" ",BBC,09/04/2024,"[""Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate."", 'HSBC Argentina, which has more than 100 branches and 3,100 employees, will be bought by Grupo Financiero Galicia, a major private financial group.', 'Annual inflation in Argentina hit 276.2% last month, the highest in the world.', 'Five years ago, $1 would buy 43 pesos.', 'It is now worth more than 860 pesos.', 'HSBC has been in Argentina since 1997, when it took full control of the local Banco Roberts and renamed it.', 'That same year, it established itself in neighbouring Brazil by taking over the ailing Bamerindus bank, leading some observers to speak of its ""relentless march into Latin America"".', 'HSBC still holds on in Brazil, but purely as an investment bank: it sold its retail banking operation there in 2015.', 'Other operations elsewhere in the world have been sold off in recent years as the London-based bank has pivoted to focus more on faster-growing markets in Asia.', 'HSBC said the sale of its Argentine business, for $550m, will see it book a $1bn loss in its first-quarter results this year.', 'The size of the loss could vary for several reasons, including ""associated hyperinflation and foreign currency translation"", HSBC said on Tuesday.', 'Over the next 12 months, the business will also recognise $4.9bn in losses from historical currency translation reserves.', 'This refers to the loss that is racked up by translating the financial performance of the Argentine business, which is counted in pesos, on to HSBC\'s overall balance sheet, which is counted in US dollars. ""', 'These reserve losses have accumulated over many years and arise from the cumulative translation of the Argentinian peso-denominated book value of HSBC Argentina into US dollars,"" HSBC said.', 'In 2023 alone, these losses grew by $1.8bn, the bank added.', 'The exact losses may well change between now and when the sale goes through, because the exchange rate is constantly changing.', 'HSBC chief executive Noel Quinn said: ""We are pleased to agree the sale of HSBC Argentina. ""', 'This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher-value opportunities across our international network. ""', 'HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. ""', 'Furthermore, given its size, it also generates substantial earnings volatility for the group when its results are translated into US dollars.', 'Galicia is better placed to invest in and grow the business.""']",-0.0110423732267407,"This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher-value opportunities across our international network. """,Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate.,-0.2261015635270338,"HSBC chief executive Noel Quinn said: ""We are pleased to agree the sale of HSBC Argentina. """,Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country's unstable exchange rate.,2024-04-10 -Musk challenges Brazil court order to block certain X accounts,https://www.bbc.co.uk/news/articles/cv2ygp5pdqlo,2024-04-08T04:19:09.965Z,"A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to ""resign or be impeached"". If X fails to comply with the order, it will be fined 100,000 reais ($19,774; £15,670) a day. In his decision, Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court. The platform's Global Government Affairs team said the company was not allowed to say which accounts were affected. But Mr Musk has since posted that ""X will publish everything demanded by [Moraes] and how those requests violate Brazilian law"". The profiles are believed to have been linked to far-right movements which posted content related to riots on 8 January last year when thousands of supporters of Brazil's former President Jair Bolsonaro stormed the country's Congress, the Supreme Court and the presidential palace. Justice Moraes gained prominence after his decisions to restrict social media platforms in the country. He is also investigating Mr Bolsonaro and his supporters for their roles in an alleged attempted coup d'état. On Saturday, the former president posted a video of a meeting he had with Mr Musk in May 2022. Hours earlier, Mr Bolsonaro also called on his supporters to gather on 21 April. Meanwhile, Brazil's communication minister Paulo Pimenta criticised Mr Musk, posting in capital letters that ""social networks are not a lawless land"". ""We will not allow anyone, regardless of the money and power they have, to affront our homeland,"" he added. If X decides to disobey the order, the platform could be blocked temporarily according to Bruna Santos who is the global campaigns manager at non profit organisation Digital Action. ""Musk acted to provoke the Brazilian judiciary,"" she said. ""I think there is a real chance that X might get blocked."" Additional reporting by Mariana Schreiber and Joao Da Silva ",BBC,08/04/2024,"['A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked.', 'Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional.', 'He also called for Justice Alexandre de Moraes to ""resign or be impeached"".', 'If X fails to comply with the order, it will be fined 100,000 reais ($19,774; £15,670) a day.', 'In his decision, Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court.', ""The platform's Global Government Affairs team said the company was not allowed to say which accounts were affected."", 'But Mr Musk has since posted that ""X will publish everything demanded by [Moraes] and how those requests violate Brazilian law"".', ""The profiles are believed to have been linked to far-right movements which posted content related to riots on 8 January last year when thousands of supporters of Brazil's former President Jair Bolsonaro stormed the country's Congress, the Supreme Court and the presidential palace."", 'Justice Moraes gained prominence after his decisions to restrict social media platforms in the country.', ""He is also investigating Mr Bolsonaro and his supporters for their roles in an alleged attempted coup d'état."", 'On Saturday, the former president posted a video of a meeting he had with Mr Musk in May 2022.', 'Hours earlier, Mr Bolsonaro also called on his supporters to gather on 21 April.', 'Meanwhile, Brazil\'s communication minister Paulo Pimenta criticised Mr Musk, posting in capital letters that ""social networks are not a lawless land"". ""', 'We will not allow anyone, regardless of the money and power they have, to affront our homeland,"" he added.', 'If X decides to disobey the order, the platform could be blocked temporarily according to Bruna Santos who is the global campaigns manager at non profit organisation Digital Action. ""', 'Musk acted to provoke the Brazilian judiciary,"" she said. ""', 'I think there is a real chance that X might get blocked.""', 'Additional reporting by Mariana Schreiber and Joao Da Silva']",0.0650544143199842,"In his decision, Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court.","But Mr Musk has since posted that ""X will publish everything demanded by [Moraes] and how those requests violate Brazilian law"".",-0.3260461688041687,Justice Moraes gained prominence after his decisions to restrict social media platforms in the country.,"I think there is a real chance that X might get blocked.""",2024-04-10 -OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html," - Updated - 3:32 PM EST, Wed November 22, 2023 - ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating. - - Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision. - - The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot. - - If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT. - - Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public. - - Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board. - - Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO. - - OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement. - - Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.” - - Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.” - - A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events. - - Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture. - - OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return. - - By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO. - - But those talks broke down. - - As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer. - - In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing. - - But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met. - - Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.” - - The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign. - - And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft. - - “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.” - - Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X. - - “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo. - - “We are collaborating to figure out the details,” it said. - - In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft. - - It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.” - - Brockman is also returning to OpenAI, according to his post on X. - - Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI. - - “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X. “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X. Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-04-10 -FCC rolls out mandatory ‘nutrition labels’ for internet providers’ plans,https://edition.cnn.com/2024/04/10/tech/fcc-mandatory-nutrition-labels-internet-providers/index.html," - Published - 5:01 AM EDT, Wed April 10, 2024 - ","The next time you go shopping for a home or mobile internet plan, you’re going to see a new label lay out exactly what you can expect to pay, the typical download speeds you’ll get and information about the internet provider’s policies. - - That information will now be standardized across providers and displayed in a new disclosure modeled after the nutrition labels you see on food packaging in grocery store aisles, according to the Federal Communications Commission. - - The new labels, which go live beginning Wednesday and that all major internet service providers (ISPs) will now be required to show, are among the latest steps by the US government to help consumers make sense of the mix of plans, fees and promotional rates on the market today. - - The transparency the labels provide could help Americans save money, FCC and White House officials say. - - “The FCC borrowed the nutrition label model format from food products because we wanted to make basic information about broadband internet service easily recognizable and easy to understand,” Alejandro Roark, the FCC’s bureau chief for consumer and government affairs, told reporters on a conference call. - - Known as “consumer broadband labels,” the FCC-mandated disclosures must be offered at the point of sale both online and in stores — and in many cases, in both English and Spanish. - - They will have to include information about early termination fees, data caps and network practices such as speed throttling. And they will have to be easily accessible: Providers won’t be allowed to bury the labels in fine print or on separate web pages, and consumers will need to be able to refer to them conveniently anytime they pay their bills or want to compare plans, Roark said. - - Americans are still limited in many parts of the country to just a small number of providers. And in a report last month, the FCC found that tens of millions of Americans still don’t have access to high-speed internet at all. The problem is particularly acute in rural and tribal areas, where roughly a quarter of Americans lack broadband. - - Worse, an estimated 23 million households — representing nearly 1 in 5 US households and an estimated 59 million Americans overall — are at risk of losing their internet plans altogether due to the looming end of a popular federal aid program that will run out of money as soon as this month. Without the Affordable Connectivity Program, many will be forced to choose between having internet at home and paying for groceries, surveys show. - - Still, forcing ISPs to be more clear with consumers could be a small step toward improving competition among internet providers, and is part of a broader Biden administration push to fight junk fees and other misleading business practices, said a White House official on the call. - - “These are mechanisms which are designed to make it more likely that companies will compete with each other on the grounds of consumer price and quality of products and less likely to compete with each other on confusing terms or by misleading customers,” the official said. - - The labels have been years in the making. In 2016, an FCC advisory committee first released a version of the disclosures that providers were not required to adopt. Then, under the 2021 bipartisan infrastructure law, the FCC moved to implement mandatory broadband disclosure labels and held a lengthy process to design and finalize them. - - The end result could give consumers an easier way to compare plans and offerings from providers such as Comcast, Verizon and AT&T. And because the labels must be machine-readable, they could help researchers and product review sites gather data on the ISPs’ plans and marketing. - - Because providers will be required to prominently display the labels, FCC officials will be monitoring for evidence or consumer complaints about non-compliance, which could lead to agency investigations or fines. - - “We’re going to be keeping a close eye to see if there are any issues with implementation,” said an FCC official on the call.",CNN,10/04/2024,"['The next time you go shopping for a home or mobile internet plan, you’re going to see a new label lay out exactly what you can expect to pay, the typical download speeds you’ll get and information about the internet provider’s policies.', 'That information will now be standardized across providers and displayed in a new disclosure modeled after the nutrition labels you see on food packaging in grocery store aisles, according to the Federal Communications Commission.', 'The newlabels, which go live beginning Wednesday and that all major internet service providers (ISPs) will now be required to show, are among the latest steps by the US government to help consumers make sense of the mix of plans, fees and promotional rates on the market today.', 'The transparency the labels provide could help Americans save money, FCC and White House officials say.', '“The FCC borrowed the nutrition label model format from food products because we wanted to make basic information about broadband internet service easily recognizable and easy to understand,” Alejandro Roark, the FCC’s bureau chief for consumer and government affairs, told reporters on a conference call.', 'Known as “consumer broadband labels,” the FCC-mandated disclosures must be offered at the point of sale both online and in stores — and in many cases, in both English and Spanish.', 'They will have to include information about early termination fees, data caps and network practices such as speed throttling.', 'And they will have to be easily accessible: Providers won’t be allowed to bury the labels in fine print or on separate web pages, and consumers will need to be able to refer to them conveniently anytime they pay their bills or want to compare plans, Roark said.', 'Americans are still limited in many parts of the country to just a small number of providers.', 'And in a report last month, the FCC found thattens of millions of Americansstill don’t have access to high-speed internet at all.', 'The problem is particularly acute in rural and tribal areas, where roughly a quarter of Americans lack broadband.', 'Worse, an estimated 23 million households — representing nearly 1 in 5 US households and an estimated 59 million Americans overall — are at risk oflosing their internet plansaltogether due to the looming end of a popular federal aid program that will run out of money as soon as this month.', 'Without the Affordable Connectivity Program, many will be forced to choose between having internet at home and paying for groceries, surveys show.', 'Still, forcing ISPs to be more clear with consumers could be a small step toward improving competition among internet providers, and is part of a broader Biden administration push to fight junk fees and other misleading business practices, said a White House official on the call.', '“These are mechanisms which are designed to make it more likely that companies will compete with each other on the grounds of consumer price and quality of products and less likely to compete with each other on confusing terms or by misleading customers,” the official said.', 'The labels have been years in the making.', 'In 2016, an FCC advisory committee first released a version of the disclosures that providers were not required to adopt.', 'Then, under the 2021 bipartisan infrastructure law, the FCC moved to implement mandatory broadband disclosure labels and held a lengthy process to design and finalize them.', 'Theend resultcould give consumers an easier way to compare plans and offerings from providers such as Comcast, Verizon and AT&T. And because the labels must be machine-readable, they could help researchers and product review sites gather data on the ISPs’ plans and marketing.', 'Because providers will be required to prominently display the labels, FCC officials will be monitoring for evidence or consumer complaints about non-compliance, which could lead to agency investigations or fines.', '“We’re going to be keeping a close eye to see if there are any issues with implementation,” said an FCC official on the call.']",0.0107635361215824,"The transparency the labels provide could help Americans save money, FCC and White House officials say.","The problem is particularly acute in rural and tribal areas, where roughly a quarter of Americans lack broadband.",0.2457319498062133,"Still, forcing ISPs to be more clear with consumers could be a small step toward improving competition among internet providers, and is part of a broader Biden administration push to fight junk fees and other misleading business practices, said a White House official on the call.","Worse, an estimated 23 million households — representing nearly 1 in 5 US households and an estimated 59 million Americans overall — are at risk oflosing their internet plansaltogether due to the looming end of a popular federal aid program that will run out of money as soon as this month.",2024-04-10 -"Internet price hikes for low-income Americans could begin in May as federal funds run dry, FCC says",https://edition.cnn.com/2024/04/10/tech/internet-discount-low-income-americans-funding-fcc/index.html," - Updated - 9:28 AM EDT, Wed April 10, 2024 - ","The US government says that next month it can only pay about half of what low-income Americans are eligible for under a popular federal benefits program that is running out of money — a crisis that threatens to plunge millions of households into economic distress within weeks. - - The announcement by the Federal Communications Commission reflects the first concrete impacts of Congress’ failure to extend the Affordable Connectivity Program, a pandemic-era benefit that provides monthly discounts on internet service to more than 23 million US households, including seniors, veterans and schoolchildren. - - Due to lack of funds, April will be the final month the ACP can provide full benefits, the FCC said Tuesday. In May, the program will only have enough money to provide partial benefits before shutting down altogether. Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said. - - After that, program subscribers may have to pay hundreds of dollars more per year to stay online, or could potentially have to give up internet service entirely. Many ACP subscribers have told CNN that without help, they could have to choose between paying for internet and putting food on the table. - - When Congress created the ACP in 2021, it promised qualifying low-income households a discount of up to $30 a month on internet service, or $75 a month for households on tribal lands. It funded the program with a one-time infusion of $14 billion. - - Now, that money is running out, and Congress has yet to extend the program. The Biden administration has blamed congressional Republicans for standing in the way of legislation that could renew the ACP and ensure Americans aren’t hit by higher bills. House Speaker Mike Johnson has declined to say whether he backs that legislation, while Senate Majority Leader Chuck Schumer has said he supports passage of additional ACP funding. The ACP is popular with Americans across the ideological spectrum, surveys show. - - On Wednesday, a bipartisan bill to approve $7 billion in new funding for the ACP gained two Senate sponsors: Ohio Democratic Sen. Sherrod Brown and Kansas Republican Sen. Roger Marshall. The Senate bill now has five cosponsors, while the House version is backed by 223, more than half of the members in that chamber. - - Internet service providers (ISPs) could still step in voluntarily to close the gap for the millions of Americans potentially affected by the end of the program, the FCC said Tuesday. - - “We encourage providers to take efforts to keep consumers connected at this critical time,” the agency said, adding that ISPs could offer their own discounts, shift consumers onto proprietary low-cost internet plans or take other steps to ensure low-income Americans’ service is not interrupted. - - CNN is reaching out to major internet providers for comment on the FCC’s call for those voluntary measures.",CNN,10/04/2024,"['The US government says that next month it can only pay about half of what low-income Americans are eligible for under a popular federal benefits program that is running out of money — a crisis that threatens to plunge millions of households into economic distress within weeks.', 'The announcementby the Federal Communications Commission reflects the first concrete impacts of Congress’ failure to extend the Affordable Connectivity Program, a pandemic-era benefit that provides monthly discounts on internet service to more than 23 million US households, including seniors, veterans and schoolchildren.', 'Due to lack of funds, April will be the final month the ACP can provide full benefits, the FCC said Tuesday.', 'In May, the program will only have enough money to provide partial benefits before shutting down altogether.', 'Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said.', 'After that, program subscribers may have to pay hundreds of dollars more per year to stay online, or could potentially have to give up internet service entirely.', 'Many ACP subscribers have told CNN that without help, they could have to choose between paying for internet and putting food on the table.', 'When Congress created the ACP in 2021, it promised qualifying low-income households a discount of up to $30 a month on internet service, or $75 a month for households on tribal lands.', 'It funded the program with a one-time infusion of $14 billion.', 'Now, that money is running out, and Congress has yet to extend the program.', 'The Biden administration has blamed congressional Republicans for standing in the way of legislation that could renew the ACP and ensure Americans aren’t hit by higher bills.', 'House Speaker Mike Johnson has declined to say whether he backs that legislation, while Senate Majority Leader Chuck Schumer has said he supports passage of additional ACP funding.', 'The ACP is popular with Americans across the ideological spectrum, surveys show.', 'On Wednesday, a bipartisan bill to approve $7 billion in new funding for the ACP gained two Senate sponsors: Ohio Democratic Sen. Sherrod Brown and Kansas Republican Sen. Roger Marshall.', 'TheSenate billnow has five cosponsors, while theHouse versionis backed by 223, more than half of the members in that chamber.', 'Internet service providers (ISPs) could still step in voluntarily to close the gap for the millions of Americans potentially affected by the end of the program, the FCC said Tuesday.', '“We encourage providers to take efforts to keep consumers connected at this critical time,” the agency said, adding that ISPs could offer their own discounts, shift consumers onto proprietary low-cost internet plans or take other steps to ensure low-income Americans’ service is not interrupted.', 'CNN is reaching out to major internet providers for comment on the FCC’s call for those voluntary measures.']",0.0949331054427558,"Next month, ACP subscribers can expect to receive only 46% of their usual benefit, the FCC said.",The US government says that next month it can only pay about half of what low-income Americans are eligible for under a popular federal benefits program that is running out of money — a crisis that threatens to plunge millions of households into economic distress within weeks.,-0.2399079799652099,"On Wednesday, a bipartisan bill to approve $7 billion in new funding for the ACP gained two Senate sponsors: Ohio Democratic Sen. Sherrod Brown and Kansas Republican Sen. Roger Marshall.",The US government says that next month it can only pay about half of what low-income Americans are eligible for under a popular federal benefits program that is running out of money — a crisis that threatens to plunge millions of households into economic distress within weeks.,2024-04-10 -Meta is accused of censoring a non-profit newspaper and an independent journalist who criticized the company,https://edition.cnn.com/2024/04/05/tech/meta-nonprofit-newspaper-independent-journalist-alleged-censorship/index.html," - Updated - 7:24 PM EDT, Fri April 5, 2024 - ","Meta blocked a newspaper’s critical report about it on Facebook and its other social sites for hours, sparking a backlash that intensified after the company appeared to subsequently block links to the website of an independent journalist who republished the report. - - The controversy began Thursday morning when users noticed that all links to the non-profit newspaper the Kansas Reflector had been flagged as a cybersecurity threat and their posts were removed. About seven hours later, the paper said, most of its links had been restored, save for one — a column that had criticized Facebook and accused it of suppressing posts related to climate change. - - Meta apologized to the Reflector and its readers on Thursday for what the company’s communications chief, Andy Stone, called a “an error that had nothing to do with the Reflector’s recent criticism of Meta.” - - But on Friday, users who attempted to share the column on Facebook, Instagram or Threads, were shown a warning that it violated community guidelines. That seemed suspicious to Marisa Kabas, an independent journalist in New York, who asked the Reflector for permission to publish the text of the column on her own website, the Handbasket. - - “I thought it would be a cool experiment,” Kabas told CNN on Friday. Around 1pm ET, she published the story on her own site, “in an attempt to sidestep Meta’s censorship,” she wrote in a preface to the column. - - She then shared her post on Threads. “A couple minutes later, I got an alert that it had been flagged and taken down for malicious content,” Kabas told CNN. - - Kabas’s post was banned from all Meta platforms for several hours Friday. And for about two hours, she said, all of the links to her site were blocked. Her links were all restored by late afternoon Friday, she said. - - In a Threads post on Friday, Stone said the blocked links were “due to a security error” that also mistakenly blocked links to The Handbasket and the nonprofit news aggregator site News From The States. - - “The incorrectly applied blocks have now been lifted,” he wrote. “This is undoubtedly frustrating and we sincerely apologize to all who have been impacted.” - - Stone didn’t immediately reply to CNN’s request for details about the security concern. - - “Sounds like a bug with our share scraper or possibly that the domain is getting caught up in a safety measure by mistake,” said Instagram head Adam Mosseri in a threads post Friday. “We certainly don’t block links to articles that are critical about us … I’ll talk to the team now though and chase down the bug so we can get it fixed ASAP.” - - The editor-in-chief of the Kansas Reflector, Sherman Smith, wrote on Friday that Stone “wouldn’t elaborate on how the mistake happened and said there would be no further explanation.” - - Kabas said the damage had already been done because the articles had already been flagged as malicious. “That’s a big problem, because that undermines our trust,” she said.",CNN,05/04/2024,"['Meta blocked a newspaper’s critical report about it on Facebook and its other social sites for hours, sparking a backlash that intensified after the company appeared to subsequently block links to the website of an independent journalist who republished the report.', 'The controversy began Thursday morning when users noticed that all links to the non-profit newspaper the Kansas Reflector had been flagged as a cybersecurity threat and their posts were removed.', 'About seven hours later, the paper said, most of its links had been restored, save for one — a column that had criticized Facebook and accused it of suppressing posts related to climate change.', 'Meta apologized to the Reflector and its readers on Thursday for what the company’s communications chief, Andy Stone, called a “an error that had nothing to do with the Reflector’s recent criticism of Meta.”', 'But on Friday, users who attempted to share the column on Facebook, Instagram or Threads, were shown a warning that it violated community guidelines.', 'That seemed suspicious to Marisa Kabas, an independent journalist in New York, who asked the Reflector for permission to publish the text of the column on her own website, the Handbasket.', '“I thought it would be a cool experiment,” Kabas told CNN on Friday.', 'Around 1pm ET, she published the story on her own site, “in an attempt to sidestep Meta’s censorship,” she wrote in a preface to the column.', 'She then shared her post on Threads. “', 'A couple minutes later, I got an alert that it had been flagged and taken down for malicious content,” Kabas told CNN.', 'Kabas’s post was banned from all Meta platforms for several hours Friday.', 'And for about two hours, she said, all of the links to her site were blocked.', 'Her links were all restored by late afternoon Friday, she said.', 'In a Threads post on Friday, Stone said the blocked links were “due to a security error” that also mistakenly blocked links to The Handbasket and the nonprofit news aggregator site News From The States.', '“The incorrectly applied blocks have now been lifted,” he wrote. “', 'This is undoubtedly frustrating and we sincerely apologize to all who have been impacted.”', 'Stone didn’t immediately reply to CNN’s request for details about the security concern.', '“Sounds like a bug with our share scraper or possibly that the domain is getting caught up in a safety measure by mistake,” said Instagram head Adam Mosseri in a threads post Friday. “', 'We certainly don’t block links to articles that are critical about us … I’ll talk to the team now though and chase down the bug so we can get it fixed ASAP.”', 'The editor-in-chief of the Kansas Reflector, Sherman Smith, wrote on Friday that Stone “wouldn’t elaborate on how the mistake happened and said there would be no further explanation.”', 'Kabas said the damage had already been done because the articles had already been flagged as malicious. “', 'That’s a big problem, because that undermines our trust,” she said.']",-0.1426477305652488,"“Sounds like a bug with our share scraper or possibly that the domain is getting caught up in a safety measure by mistake,” said Instagram head Adam Mosseri in a threads post Friday. “","Meta blocked a newspaper’s critical report about it on Facebook and its other social sites for hours, sparking a backlash that intensified after the company appeared to subsequently block links to the website of an independent journalist who republished the report.",-0.6613112807273864,"“The incorrectly applied blocks have now been lifted,” he wrote. “","That’s a big problem, because that undermines our trust,” she said.",2024-04-10 -‘I cannot afford to live’: Gen Z is full of financial angst despite inheriting a golden job market,https://edition.cnn.com/2024/04/10/business/gen-zs-financial-angst/index.html," - Updated - 12:49 PM EDT, Wed April 10, 2024 - ","Gen Z is coming into the workforce and — in one of the grand traditions of what Millennials cringe-ily called “adulting” — they’re complaining about how much easier older generations had it. - - Before all the Boomers and Slackers throw their tablets across the room, let me note that Gen Zers — folks born between the late 1990s and early 2010s — are entering adulthood during one of strongest job markets in US history. Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream. - - “This is the best economy we’ve seen for younger workers that anybody can remember,” Brendan Duke, senior director for economic policy at the Center for American Progress, tells me. Their wages have gone up faster than inflation overall, and more quickly than any other age cohort, he added. - - See here: Last year, the unemployment rate for 16-to-24-year-olds was 7.9% — the lowest it’s been since 1953, and far better than the — wait for it — 18.4% unemployment rate for that age group in 2010, coming out of the recession. - - But Gen Z isn’t having an easy go of it either. - - Like all of us (hi, elder Millennial here), they’re struggling with an onslaught of inflation that pushed prices rapidly higher over the past three years. The essentials have been particularly expensive: Food prices surged during the pandemic, and companies haven’t been shy about keeping them elevated even as supply chains recovered. Shelter costs ballooned when the Federal Reserve jacked up interest rates, leading Boomers (or anyone with a less-than-3% mortgage) to stay in the homes they might otherwise have downsized out of. We can’t seem to build homes fast enough to meet demand. It’s a mess. - - “Housing is a huge challenge for younger workers,” Duke said. “I think that’s the part of the economy where we’ve seen the least progress when it comes to bringing down inflation, and that’s the part of the economy where younger workers bear the brunt.” - - Surviving inflation gets a lot easier if you own property. Homeowners can take out equity loans, or count on getting a chunk of change when they sell. Gen Z hasn’t had a chance to get a foot in the door. - - It’s important to remember, Duke tells me, that younger workers are always starting out at a disadvantage when they enter the workforce. You start at an entry level wage, gain experience, and, typically, you see your wages go up. Of course, the long view is little comfort when you’re 23 and slurping bodega ramen with your six roommates. - - One giant difference between now and any other moment in history: Gen Z is entering adulthood armed with a menagerie of social platforms where they can publicly broadcast their financial angst, or, conversely, gawk at peers who are having a better time thanks to generational wealth. - - Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares. - - “I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.” - - Later, he concludes: “The American Dream is dead.” - - Like much of the financial analysis on TikTok, the video goes a little off the rails. But the anger and despair point to a real and growing ennui that’s taken root among younger people. - - Gen Zers are reporting higher rates of anxiety, depression, and distress than any other age group, according to a 2022 McKinsey study. The same study found that Gen Z was the least likely cohort to seek out medical care for those conditions because behavioral health care is too expensive. “Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said. - - It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic. Now the oldest ones are grappling with an adulthood that may not permit them the benefits of homeownership, a comfortable income or a stable climate. - - That fatalism is particularly problematic when it comes to inflation, which becomes harder to fight when consumers expect prices to keep running hot. A recent Bloomberg analysis based on UK data found that inflation expectations among people 16 to 24 have risen more than any other age group since the pandemic — a fact that researchers said can have a scarring effect. - - It’s not exactly sunny in Millennial-ville: We’re running up huge piles of debt, and many share the feeling the American Dream is out of reach. - - But distressed Gen Zers can take a bit of solace from the Millennial experience. - - Many of us had no job prospects to speak of straight out of college, and slogged through a decade of stagnant wages (all while the Boomers who blew up the economy shamed us for living at home and eating avocado toast). Other jobless Millennials flocked to graduate school, taking on even more debt that’s become a massive drag on economic mobility. (That’s another benefit of a strong labor market, Duke notes: You end up with fewer hapless young people taking on grad school debt that’ll come back to haunt them.) - - It took a long time, but Millennials have, in some ways, caught up. We’re outpacing Gen X in retirement savings as of 2022, according to Charles Schwab. And, since 2019, workers under the age of 40 saw wages go up 14% on average.",CNN,10/04/2024,"['Gen Z is coming into the workforce and — in one of the grand traditions of what Millennials cringe-ily called “adulting” — they’re complaining about how much easier older generations had it.', 'Before all the Boomers and Slackers throw their tablets across the room, let me note that Gen Zers — folks born between the late 1990s and early 2010s — are entering adulthood during one of strongest job markets in US history.', 'Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream.', '“This is the best economy we’ve seen for younger workers that anybody can remember,” Brendan Duke, senior director for economic policy at the Center for American Progress, tells me.', 'Their wages have gone up faster than inflation overall, and more quickly than any other age cohort, he added.', 'See here: Last year, the unemployment rate for 16-to-24-year-olds was 7.9% — the lowest it’s been since 1953, and far better than the — wait for it — 18.4% unemployment rate for that age group in 2010, coming out of the recession.', 'But Gen Z isn’t having an easygo of it either.', 'Like all of us (hi, elder Millennial here), they’re struggling with an onslaught of inflation that pushed prices rapidly higher over the past three years.', 'The essentials have been particularly expensive: Food prices surged during the pandemic, and companies haven’t been shy about keeping them elevated even as supply chains recovered.', 'Shelter costs ballooned when the Federal Reserve jacked up interest rates, leading Boomers (or anyone with a less-than-3% mortgage) to stay in the homes they might otherwise have downsized out of.', 'We can’t seem to build homes fast enough to meet demand.', 'It’s a mess.', '“Housing is a huge challenge for younger workers,” Duke said. “', 'I think that’s the part of the economy where we’ve seen the least progress when it comes to bringing down inflation, and that’s the part of the economy where younger workers bear the brunt.”', 'Surviving inflation gets a lot easier if you own property.', 'Homeowners can take out equity loans, or count on getting a chunk of change when they sell.', 'Gen Z hasn’t had a chance to get a foot in the door.', 'It’s important to remember, Duke tells me, that younger workers are always starting out at a disadvantage when they enter the workforce.', 'You start at an entry level wage, gain experience, and, typically, you see your wages go up.', 'Of course, the long view is little comfort when you’re 23 and slurping bodega ramen with your six roommates.', 'One giant difference between now and any other moment in history: Gen Z is entering adulthood armed with a menagerie of social platforms where they can publicly broadcast their financial angst, or, conversely, gawk at peers who are having a better time thanks to generational wealth.', 'Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares.', '“I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “', 'It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.”', 'Later, he concludes: “The American Dream is dead.”', 'Like much of the financial analysis on TikTok, the video goes a little off the rails.', 'But the anger and despair point to a real and growing ennui that’s taken root among younger people.', 'Gen Zers are reporting higher rates of anxiety, depression, and distress than any other age group, according to a 2022 McKinsey study.', 'The same study found that Gen Z was the least likely cohort to seek out medical care for those conditions because behavioral health care is too expensive. “', 'Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said.', 'It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic.', 'Now the oldest ones are grappling with an adulthood that may not permit them the benefits of homeownership, a comfortable income or a stable climate.', 'That fatalism is particularly problematic when it comes to inflation, which becomes harder to fight when consumers expect prices to keep running hot.', 'A recent Bloomberg analysis based on UK data found that inflation expectations among people 16 to 24 have risen more than any other age group since the pandemic — a fact that researchers said can have a scarring effect.', 'It’s not exactly sunny in Millennial-ville: We’re running up huge piles of debt, and many share the feeling the American Dream is out of reach.', 'But distressed Gen Zers can take a bit of solace from the Millennial experience.', 'Many of us had no job prospects to speak of straight out of college, and slogged through a decade of stagnant wages (all while the Boomers who blew up the economy shamed us for living at home and eating avocado toast).', 'Other jobless Millennials flocked to graduate school, taking on even more debt that’s become a massive drag on economic mobility. (', 'That’s another benefit of a strong labor market, Duke notes: You end up with fewer hapless young people taking on grad school debt that’ll come back to haunt them.)', 'It took a long time, but Millennials have, in some ways, caught up.', 'We’re outpacing Gen X in retirement savings as of 2022, according to Charles Schwab.', 'And, since 2019, workers under the age of 40 saw wages go up 14% on average.']",0.0126737710323752,Gen Z is coming into the workforce and — in one of the grand traditions of what Millennials cringe-ily called “adulting” — they’re complaining about how much easier older generations had it.,But the anger and despair point to a real and growing ennui that’s taken root among younger people.,0.0784676885604858,"And, since 2019, workers under the age of 40 saw wages go up 14% on average.","Shelter costs ballooned when the Federal Reserve jacked up interest rates, leading Boomers (or anyone with a less-than-3% mortgage) to stay in the homes they might otherwise have downsized out of.",2024-04-10 -‘World of Warcraft’ and other hit games return to China as Blizzard and NetEase end dispute,https://edition.cnn.com/2024/04/10/business/china-netease-blizzard-games-return-intl-hnk/index.html," - Published - 2:00 AM EDT, Wed April 10, 2024 - ","China’s gaming giant NetEase will bring back the iconic “World of Warcraft” and other popular video games by Microsoft’s Blizzard Entertainment to the country, the companies said in a joint statement Wednesday. - - California-based Blizzard and Hangzhou-based NetEase had ceased their 15-year relationship in 2023 after an acrimonious fallout, leaving millions of fans in China heartbroken. - - “After a year of negotiations, Blizzard and NetEase are pleased to align on a path forward to once again serve players in mainland China,” the companies said in a post on NetEase Games’ official Weibo account. - - The new deal will see the return of “World of Warcraft” and “Hearthstone” games to China, as well as other titles in the Warcraft, Overwatch, Diablo and StarCraft universes, according to the statement. - - “World of Warcraft,” also known as “WoW,” is a hugely popular online multiplayer game that allows users to fight monsters and journey through expeditions in the medieval world of Azeroth. - - The games will “sequentially return to the Chinese market beginning this summer,” the companies said, adding they will share further details at a later date. - - “We are thrilled to embark on the next chapter, built on trust and mutual respect, to serve our users in this unique community that we’ve built together,” said William Ding, Chief Executive Officer and Director, NetEase. - - Foreign publishers must work with local partners to offer video games in China. In November 2022, however, Blizzard and NetEase announced they would not renew licensing deals as they were unable to agree on key terms. - - Separately, Microsoft Gaming and NetEase have also entered into an agreement to explore bringing new titles by the Chinese company to Xbox consoles, according to the statement Wednesday. Microsoft had completed its takeover of Activision Blizzard— one of the world’s biggest video game developers— in 2023. - - “Blizzard’s universes have been part of players’ lives in the region for many years. Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming. - - China has launched a crackdown in recent years on its massive online gaming industry, as Beijing seeks to reverse what it sees as a growing trend of gaming addiction among young people. - - In 2021, China barred online gamers under age 18 from playing on weekdays and limited their play to just three hours most weekends. - - That was part of Beijing’s wider clampdown targeting what it sees as overly powerful companies, especially in Big Tech.",CNN,10/04/2024,"['China’s gaming giant NetEase will bring back the iconic “World of Warcraft” and other popular video games by Microsoft’s Blizzard Entertainment to the country, the companies said in a joint statement Wednesday.', 'California-based Blizzard and Hangzhou-based NetEase had ceased their 15-year relationship in 2023 after an acrimonious fallout, leaving millions of fans in China heartbroken.', '“After a year of negotiations, Blizzard and NetEase are pleased to align on a path forward to once again serve players in mainland China,” the companies said in a post on NetEase Games’ official Weibo account.', 'The new deal will see the return of “World of Warcraft” and “Hearthstone” games to China, as well as other titles in the Warcraft, Overwatch, Diablo and StarCraft universes, according to the statement.', '“World of Warcraft,”also known as “WoW,” is a hugely popular online multiplayer game that allows users to fight monsters and journey through expeditions in the medieval world of Azeroth.', 'The games will “sequentially return to the Chinese market beginning this summer,” the companies said, adding they will share further details at a later date.', '“We are thrilled to embark on the next chapter, built on trust and mutual respect, to serve our users in this unique community that we’ve built together,” said William Ding, Chief Executive Officer and Director, NetEase.', 'Foreign publishers must work with local partners to offer video games in China.', 'In November 2022, however, Blizzard and NetEaseannouncedthey would not renew licensing deals as they were unable to agree on key terms.', 'Separately, Microsoft Gaming and NetEase have also entered into an agreement to explore bringing new titles by the Chinese company to Xbox consoles, according to the statement Wednesday.', 'Microsoft had completed its takeover of Activision Blizzard— one of the world’s biggest video game developers— in 2023.', '“Blizzard’s universes have been part of players’ lives in the region for many years.', 'Returning Blizzard’s legendary games to players in China while exploring ways to bring more new titles to Xbox demonstrates our commitment to bringing more games to more players around the world,” said Phil Spencer, CEO of Microsoft Gaming.', 'China has launched a crackdown in recent years on its massive online gaming industry, as Beijing seeks to reverse what it sees as a growing trend of gaming addiction among young people.', 'In 2021, China barred online gamers under age 18 from playing on weekdays and limited their play to just three hours most weekends.', 'That was part of Beijing’s wider clampdown targeting what it sees as overly powerful companies, especially in Big Tech.']",0.2920022732609139,"“We are thrilled to embark on the next chapter, built on trust and mutual respect, to serve our users in this unique community that we’ve built together,” said William Ding, Chief Executive Officer and Director, NetEase.","California-based Blizzard and Hangzhou-based NetEase had ceased their 15-year relationship in 2023 after an acrimonious fallout, leaving millions of fans in China heartbroken.",0.1531477740832737,"“After a year of negotiations, Blizzard and NetEase are pleased to align on a path forward to once again serve players in mainland China,” the companies said in a post on NetEase Games’ official Weibo account.","California-based Blizzard and Hangzhou-based NetEase had ceased their 15-year relationship in 2023 after an acrimonious fallout, leaving millions of fans in China heartbroken.",2024-04-10 -Will Truth Social solve Donald Trump's money problems?,https://www.bbc.co.uk/news/business-68716628,2024-04-02T23:56:00.000Z,"The share price of Donald Trump's media company has fallen from last week's high when it officially listed on the Nasdaq stock exchange. But it is still worth more than $7bn (£5.6bn) at current prices - an astonishing sum given the business behind it. So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump's spiralling legal bills? Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence. The idea was pitched to him by two men, former contestants on his reality TV show, The Apprentice, who saw an opportunity to create an alternative to the mainstream social media sites. In 2022 Trump Media launched its first - and to date only - product for the public: the social media platform Truth Social. Much of Truth Social's functionality is identical to X. Users are able to post 'truths' or 'retruths' as well as send direct messages. Adverts, meanwhile, are called 'sponsored truths'. Trump Media claims about 9m Truth Social accounts have been created since its start. It does not disclose how many users it has, but research firm SimilarWeb estimates that Truth Social had 5m monthly website visits in February this year. By comparison, TikTok received more than 2bn visits, while Facebook had more than 3bn. X had 104m visits in February, SimilarWeb reported. Mr Trump has roughly 7m followers on Truth Social, far fewer than the 87m he has on X. The former president's X account was reinstated towards the end of 2022, but he has only posted once since then. It doesn't. Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of ""substantial doubt"" about its ability to continue as a business. The report was another reminder of the considerable disconnect between the finances of the company and its stock price, which puts its value at around $7bn. As a gauge, in 2013, when Twitter listed on the stock market, it reported $660m in revenue and had a market value of roughly $24bn. By 2021, the year before Elon Musk bought Twitter for $44bn, that figure had grown to more than $5bn. Mr Trump's relationship with the firm is a bit like the licensing deals that he used in his property empire, in which he signed over his name for the promotion of a business run primarily by others. In this case, Mr Trump has also agreed to post non-political messages first on Truth Social. The other difference is that this deal did not yield a stream of automatic licensing fees - instead, Mr Trump was paid by being given shares in the new start-up. Trump Media, which is led by former Republican congressman Devin Nunes, was originally a private company, and Mr Trump owned 90% of it. It went public in March 2024 via what is known as a SPAC - basically, it was acquired by a company whose shares were already trading publicly on the stock market, in this case, Digital World Acquisition Corp. Mr Trump now owns about 57% of shares in the combined firm, which was renamed Trump Media and trades under the DJT ticker - Mr Trump's initials. The next biggest owner of TMTG is the Kuwaiti-headquartered investment firm ARC Global Investments, which has a 6.9% stake, according to Trump Media filings with financial regulators. The former Apprentice contestants also have a sizable stakes, though those holdings are currently subject to legal fights. The two men - Wes Moss and Andy Litinsky - filed a suit against Mr Trump claiming he was trying to cheat them out of their shares. He sued them back, arguing that their mismanagement of the social media site should cost them their stakes in the company. Overall, insiders own about 70% of the stock. When Trump Media announced its plans to go public in 2021, the news prompted small-time investors to snap up shares of Digital World, helping to pump up its price and drawing comparisons to pandemic-era meme stocks. At the end of 2023, big financial firms owned only about 5% of Digital World stock, far less than is typical, implying everyday investors had the bulk of the rest. With the merger complete, those individuals now also own a significant chunk of Trump Media, though just how much is not known exactly. Conversations in online forums suggest at least some of those shareholders see their stock purchase as a bet on Mr Trump and a way to support him as his legal troubles, and the bills that accompany them, pile up. Mr Trump has been ordered to pay more than $350m in damages in a civil fraud case, with interest charges potentially adding another $100m. After the merger was completed, Mr Trump saw his net worth more than double to over $5bn overnight, according to Forbes. Mr Trump is barred from selling his roughly 78m shares for about six months, unless the company decides to grant him a waiver. But he stands to earn a windfall should he decide to cash in - even if the price drops sharply, as many analysts predict. Shares in Digital World, now Trump Media, have swung wildly since 2021 and are expected to continue to do so. They popped to more than $70 apiece when Trump Media formally debuted on 26 March. They have since fallen and are trading around $50 apiece, which makes Mr Trump's stake worth $4.1bn. But that is about where they were the day before the launch and three times what Digital World shares were worth at the start of 2024. Even if they were to fall to $1 apiece in six months, Mr Trump could still raise more than $78m by selling. ",BBC,02/04/2024,"[""The share price of Donald Trump's media company has fallen from last week's high when it officially listed on the Nasdaq stock exchange."", 'But it is still worth more than $7bn (£5.6bn) at current prices - an astonishing sum given the business behind it.', 'So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make?', ""And is it the answer to Mr Trump's spiralling legal bills?"", 'Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.', 'The idea was pitched to him by two men, former contestants on his reality TV show, The Apprentice, who saw an opportunity to create an alternative to the mainstream social media sites.', 'In 2022 Trump Media launched its first - and to date only - product for the public: the social media platform Truth Social.', ""Much of Truth Social's functionality is identical to X. Users are able to post 'truths' or 'retruths' as well as send direct messages."", ""Adverts, meanwhile, are called 'sponsored truths'."", 'Trump Media claims about 9m Truth Social accounts have been created since its start.', 'It does not disclose how many users it has, but research firm SimilarWeb estimates that Truth Social had 5m monthly website visits in February this year.', 'By comparison, TikTok received more than 2bn visits, while Facebook had more than 3bn.', 'X had 104m visits in February, SimilarWeb reported.', ""Mr Trump has roughly 7m followers on Truth Social, far fewer than the 87m he has on X. The former president's X account was reinstated towards the end of 2022, but he has only posted once since then."", ""It doesn't."", 'Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of ""substantial doubt"" about its ability to continue as a business.', 'The report was another reminder of the considerable disconnect between the finances of the company and its stock price, which puts its value at around $7bn.', 'As a gauge, in 2013, when Twitter listed on the stock market, it reported $660m in revenue and had a market value of roughly $24bn.', 'By 2021, the year before Elon Musk bought Twitter for $44bn, that figure had grown to more than $5bn.', ""Mr Trump's relationship with the firm is a bit like the licensing deals that he used in his property empire, in which he signed over his name for the promotion of a business run primarily by others."", 'In this case, Mr Trump has also agreed to post non-political messages first on Truth Social.', 'The other difference is that this deal did not yield a stream of automatic licensing fees - instead, Mr Trump was paid by being given shares in the new start-up.', 'Trump Media, which is led by former Republican congressman Devin Nunes, was originally a private company, and Mr Trump owned 90% of it.', ""It went public in March 2024 via what is known as a SPAC - basically, it was acquired by a company whose shares were already trading publicly on the stock market, in this case, Digital World Acquisition Corp. Mr Trump now owns about 57% of shares in the combined firm, which was renamed Trump Media and trades under the DJT ticker - Mr Trump's initials."", 'The next biggest owner of TMTG is the Kuwaiti-headquartered investment firm ARC Global Investments, which has a 6.9% stake, according to Trump Media filings with financial regulators.', 'The former Apprentice contestants also have a sizable stakes, though those holdings are currently subject to legal fights.', 'The two men - Wes Moss and Andy Litinsky - filed a suit against Mr Trump claiming he was trying to cheat them out of their shares.', 'He sued them back, arguing that their mismanagement of the social media site should cost them their stakes in the company.', 'Overall, insiders own about 70% of the stock.', 'When Trump Media announced its plans to go public in 2021, the news prompted small-time investors to snap up shares of Digital World, helping to pump up its price and drawing comparisons to pandemic-era meme stocks.', 'At the end of 2023, big financial firms owned only about 5% of Digital World stock, far less than is typical, implying everyday investors had the bulk of the rest.', 'With the merger complete, those individuals now also own a significant chunk of Trump Media, though just how much is not known exactly.', 'Conversations in online forums suggest at least some of those shareholders see their stock purchase as a bet on Mr Trump and a way to support him as his legal troubles, and the bills that accompany them, pile up.', 'Mr Trump has been ordered to pay more than $350m in damages in a civil fraud case, with interest charges potentially adding another $100m. After the merger was completed, Mr Trump saw his net worth more than double to over $5bn overnight, according to Forbes.', 'Mr Trump is barred from selling his roughly 78m shares for about six months, unless the company decides to grant him a waiver.', 'But he stands to earn a windfall should he decide to cash in - even if the price drops sharply, as many analysts predict.', 'Shares in Digital World, now Trump Media, have swung wildly since 2021 and are expected to continue to do so.', 'They popped to more than $70 apiece when Trump Media formally debuted on 26 March.', ""They have since fallen and are trading around $50 apiece, which makes Mr Trump's stake worth $4.1bn."", 'But that is about where they were the day before the launch and three times what Digital World shares were worth at the start of 2024.', 'Even if they were to fall to $1 apiece in six months, Mr Trump could still raise more than $78m by selling.']",0.1382611243779417,Much of Truth Social's functionality is identical to X. Users are able to post 'truths' or 'retruths' as well as send direct messages.,"Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.",0.1471985181172689,"Shares in Digital World, now Trump Media, have swung wildly since 2021 and are expected to continue to do so.","Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of ""substantial doubt"" about its ability to continue as a business.",2024-04-10 -CBS News is trying something new in streaming,https://edition.cnn.com/2024/04/10/media/cbs-news-streaming/index.html," - Published - 6:48 AM EDT, Wed April 10, 2024 - ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here. - - CBS News is overhauling its streaming platform. - - The Tiffany Network’s news division announced Tuesday that it will invest more deeply into its digital offering, entirely rebranding the streamer as CBS News 24/7. - - The Wendy McMahon-led changes, set to be implemented April 22, will feature new programming. A slate of fresh shows includes “CBS News Confirmed,” a program solely devoted to combatting misinformation, as well as “CBS News 24/7,” a “live, whip-around newscast” that will “capture what’s happening across the globe in real time.” John Dickerson’s show will also expand to 90 minutes later in the spring. In addition, the network is expanding its presence across the country, staffing “news hubs” with journalists in cities from Cleveland to Las Vegas. - - The move by CBS News, of course, comes as legacy television news outlets grapple with the rapidly declining linear business. CNN and NBC News have invested in streaming networks of their own. - - We sent some questions over to McMahon about CBS News’ ambitions in the streaming space. Below you’ll find the Q&A, which has been edited for length. - - Can you elaborate on the decision-making process that led to the expansion and rebranding of CBS News’ streaming platform? - - Our ambition is to be #1 in free streaming, and we are leveraging the playbook we used to take our 14 owned-and-operated stations’ local news streams from fourth to first against their in-market competition in two short years. The three pillars for CBS News 24/7 are: lean into our iconic shows and talent, win breaking news, and optimize the programming. - - As linear television continues its rapid decline, other news organizations have also made big moves into streaming. What do you believe makes CBS News’ entreat into the space unique? - - CBS was the first network to launch streaming channels …. So, we benefit from being first movers. Fast forward to the present day, the things that help CBS News and Stations stand out is the enduring quality of the journalism we produce and how our network and local teams are working together like never before …. We’re combining the newsgathering and speed of our local teams with national scale and depth to serve all of America. - - It’s been a brutal several months for those who work in the news industry, with too many layoffs to count. When do you think these rapidly changing business models will find some stability? - - There’s a tremendous amount of change happening in our industry right now, and many companies are looking at ways to innovate and evolve. What I tell our teams is the only thing that’s constant is change, and we must adapt to and embrace change. - - You’re launching a show called “CBS News Confirmed.” The program aims to tackle head on misinformation. What led you to put more resources behind this and do you think, as an industry, the press is doing enough to combat conspiracy theories and dismantle outright disinformation? - - I can only speak for CBS News, and I know in this organization, trust is our currency. The scale of deep fakes and misinformation out there and the speed at which that false information gets around is quite staggering. - - What is the biggest threat to journalism in America, as you see it? - - Misinformation, deep fakes and disinformation are all certainly huge threats. That’s why we started and are investing heavily in CBS News Confirmed. - - You’re opening news hubs in cities across the South and Midwest. Can you tell us more about these hubs and why you believe it’s important to invest resources into establishing a presence in these specific areas? - - The plans that we announced today include introducing and embedding multi-skilled journalists in key cities where we can truly tap into communities and feature the voices and viewpoints of people who we otherwise might not be hear from. These news hubs will help us overall respond to stories faster during breaking news simply because we will have people there. Our national movement of community journalism is in response to population shifts across the country, and it’s an extension of what we did at CBS Stations to turn neighborhoods into newsrooms. And on the heels of the election, I can’t think of a better time to do this. - - Why do you believe journalism has a bright future, despite the herculean challenges confronting the industry? - - At our town hall meeting today, I said journalism matters — and it will continue to matter. … There will always be a need for independent, fact-based reporting.",CNN,10/04/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'CBS Newsis overhauling its streaming platform.', 'The Tiffany Network’s news divisionannounced Tuesdaythat it will invest more deeply into its digital offering, entirely rebranding the streamer asCBS News 24/7.', 'TheWendy McMahon-led changes, set to be implemented April 22, will feature new programming.', 'A slate of fresh shows includes“CBS News Confirmed,”a program solely devoted to combatting misinformation, as well as “CBS News 24/7,” a “live, whip-around newscast” that will “capture what’s happening across the globe in real time.', '”John Dickerson’sshow will also expand to 90 minutes later in the spring.', 'In addition, the network is expanding its presence across the country, staffing “news hubs” with journalists in cities from Cleveland to Las Vegas.', 'The move by CBS News, of course, comes as legacy television news outlets grapple with the rapidly declining linear business.', 'CNNandNBC Newshave invested in streaming networks of their own.', 'We sent some questions over to McMahon about CBS News’ ambitions in the streaming space.', 'Below you’ll find the Q&A, which has been edited for length.', 'Can you elaborate on the decision-making process that led to the expansion and rebranding of CBS News’ streaming platform?', 'Our ambition is to be #1 in free streaming, and we are leveraging the playbook we used to take our 14 owned-and-operated stations’ local news streams from fourth to first against their in-market competition in two short years.', 'The three pillars for CBS News 24/7 are: lean into our iconic shows and talent, win breaking news, and optimize the programming.', 'As linear television continues its rapid decline, other news organizations have also made big moves into streaming.', 'What do you believe makes CBS News’ entreat into the space unique?', 'CBS was the first network to launch streaming channels ….', 'So, we benefit from being first movers.', 'Fast forward to the present day, the things that help CBS News and Stations stand out is the enduring quality of the journalism we produce and how our network and local teams are working together like never before ….', 'We’re combining the newsgathering and speed of our local teams with national scale and depth to serve all of America.', 'It’s been a brutal several months for those who work in the news industry, with too many layoffs to count.', 'When do you think these rapidly changing business models will find some stability?', 'There’s a tremendous amount of change happening in our industry right now, and many companies are looking at ways to innovate and evolve.', 'What I tell our teams is the only thing that’s constant is change, and we must adapt to and embrace change.', 'You’re launching a show called “CBS News Confirmed.”', 'The program aims to tackle head on misinformation.', 'What led you to put more resources behind this and do you think, as an industry, the press is doing enough to combat conspiracy theories and dismantle outright disinformation?', 'I can only speak for CBS News, and I know in this organization, trust is our currency.', 'The scale of deep fakes and misinformation out there and the speed at which that false information gets around is quite staggering.', 'What is the biggest threat to journalism in America, as you see it?', 'Misinformation, deep fakes and disinformation are all certainly huge threats.', 'That’s why we started and are investing heavily in CBS News Confirmed.', 'You’re opening news hubs in cities across the South and Midwest.', 'Can you tell us more about these hubs and why you believe it’s important to invest resources into establishing a presence in these specific areas?', 'The plans that we announced today include introducing and embedding multi-skilled journalists in key cities where we can truly tap into communities and feature the voices and viewpoints of people who we otherwise might not be hear from.', 'These news hubs will help us overall respond to stories faster during breaking news simply because we will have people there.', 'Our national movement of community journalism is in response to population shifts across the country, and it’s an extension of what we did at CBS Stations to turn neighborhoods into newsrooms.', 'And on the heels of the election, I can’t think of a better time to do this.', 'Why do you believe journalism has a bright future, despite the herculean challenges confronting the industry?', 'At our town hall meeting today, I said journalism matters — and it will continue to matter. …', 'There will always be a need for independent, fact-based reporting.']",0.0766178529937449,"The three pillars for CBS News 24/7 are: lean into our iconic shows and talent, win breaking news, and optimize the programming.","What led you to put more resources behind this and do you think, as an industry, the press is doing enough to combat conspiracy theories and dismantle outright disinformation?",0.5939496457576752,"Why do you believe journalism has a bright future, despite the herculean challenges confronting the industry?","It’s been a brutal several months for those who work in the news industry, with too many layoffs to count.",2024-04-10 -Walmart shoppers could claim up to $500 as part of a class-action settlement,https://edition.cnn.com/2024/04/05/business/walmart-shoppers-class-action-settlement/index.html," - Published - 6:52 PM EDT, Fri April 5, 2024 - ","Walmart shoppers could be entitled to as much as $500 as part of a class-action lawsuit settlement by the retailer over allegations that it overcharged customers for certain products. - - A lawsuit initially filed in late 2022, and subsequently amended in 2023, alleged that Walmart “falsely inflated” the prices of certain sold-by-weight products, including those that feature the retailer’s “rollbacks,” or discounts. - - It alleged that shoppers at checkout were deceptively led to think they were paying the lowered prices on those goods such as meats, poultry and seafood. - - The suit alleged Walmart also mislabeled the weight of bagged produce such as oranges, grapefruit and tangerines by falsely advertising the weight as more than the actual weight of those grocery items. - - Walmart reached a settlement late last year to pay $45 million to customers, while denying any allegations of wrongdoing. - - Walmart, in a statement to CNN on Friday, said it “will continue providing our customers everyday low prices to help them save money on the products they want and need. We still deny the allegations, however we believe a settlement is in the best interest of both parties.” - - According to the terms of the settlement, any Walmart customer who bought weighted goods and/or bagged citrus at a Walmart store, supercenter or neighborhood market store in the United States or Puerto Rico from Oct, 19, 2018, through January 19, 2024, could be eligible for a cash payment. - - The cash payments will vary, depending on what was bought during the period. - - They include: - - –$10 without a receipt, but a shopper can attest to buying up to 50 weighted goods and/or bagged citrus in-person in a Walmart store during the settlement class period. - - –$15 without a receipt or other proof of purchase, but they can attest to buying from 51 up to 75 weighted goods and/or bagged citrus. - - –$20 without receipts or proof of purchase, but they can attest to buying from 76 up to 100 weighted goods and/or bagged citrus. - - –$25 without receipts or proof of purchase but attest to buying 101 or more weighted goods and/or bagged citrus. - - –Up to $500 with receipts or other proof of purchase of each weighted goods and/or bagged citrus purchased in a Walmart store during the settlement class period, customers will receive 2% of “the total cost of the substantiated Weighted Goods and Bagged Citrus Purchased,” up to $500. - - Customers can also try to retrieve receipts from Walmart’s website. - - Walmart shoppers can file a claim online or via mail, postmarked, on or before June 5, 2024.",CNN,05/04/2024,"['Walmart shoppers could be entitled to as much as $500 as part of a class-action lawsuit settlement by the retailer over allegations that it overcharged customers for certain products.', 'A lawsuit initially filed in late 2022, and subsequently amended in 2023, alleged that Walmart “falsely inflated” the prices of certain sold-by-weight products, including those that feature the retailer’s “rollbacks,” or discounts.', 'It alleged that shoppers at checkout were deceptively led to think they were paying the lowered prices on those goods such as meats, poultry and seafood.', 'The suit alleged Walmart also mislabeled the weight of bagged produce such as oranges, grapefruit and tangerines by falsely advertising the weight as more than the actual weight of those grocery items.', 'Walmart reached a settlement late last year to pay $45 million to customers, while denying any allegations of wrongdoing.', 'Walmart, in a statement to CNN on Friday, said it “will continue providing our customers everyday low prices to help them save money on the products they want and need.', 'We still deny the allegations, however we believe a settlement is in the best interest of both parties.”', 'According to the terms of the settlement, any Walmart customer who bought weighted goods and/or bagged citrus at a Walmart store, supercenter or neighborhood market store in the United States or Puerto Rico from Oct, 19, 2018, through January 19, 2024, could be eligible for a cash payment.', 'The cash payments will vary, depending on what was bought during the period.', 'They include: –$10 without a receipt, but a shopper can attest to buying up to 50 weighted goods and/or bagged citrus in-person in a Walmart store during the settlement class period.', '–$15 without a receipt or other proof of purchase, but they can attest to buying from 51 up to 75 weighted goods and/or bagged citrus.', '–$20 without receipts or proof of purchase, but they can attest to buying from 76 up to 100 weighted goods and/or bagged citrus.', '–$25 without receipts or proof of purchase but attest to buying 101 or more weighted goods and/or bagged citrus.', '–Up to $500 with receipts or other proof of purchase of each weighted goods and/or bagged citrus purchased in a Walmart store during the settlement class period,customers will receive 2% of “the total cost of the substantiated Weighted Goods and Bagged Citrus Purchased,” up to $500.', 'Customers can also try to retrieve receipts fromWalmart’s website.', 'Walmart shoppers can file a claim online or via mail, postmarked, on or beforeJune 5, 2024.']",0.1103609768968021,"We still deny the allegations, however we believe a settlement is in the best interest of both parties.”","Walmart reached a settlement late last year to pay $45 million to customers, while denying any allegations of wrongdoing.",0.5045076608657837,"Walmart, in a statement to CNN on Friday, said it “will continue providing our customers everyday low prices to help them save money on the products they want and need.","A lawsuit initially filed in late 2022, and subsequently amended in 2023, alleged that Walmart “falsely inflated” the prices of certain sold-by-weight products, including those that feature the retailer’s “rollbacks,” or discounts.",2024-04-10 -"Some Fed officials worry inflation remains stubbornly high, minutes show",https://edition.cnn.com/2024/04/10/economy/fed-minutes-march-meeting-inflation-high/index.html," - Published - 2:40 PM EDT, Wed April 10, 2024 - ","Federal Reserve officials said during their March policymaking meeting that inflation will likely continue to slow this year, according to minutes released Wednesday, but some still fretted over the possibility that inflation could remain stubbornly high. - - Those fears have now worsened, at least on Wall Street, which means that interest rates could remain higher for longer if prices don’t budge. - - While Fed officials “observed that significant progress had been made over the past year” despite disappointing inflation readings for January and February, some also “noted that the recent increases in inflation had been relatively broad based,” the minutes said. - - The Fed kept its key interest rate at a two-decade high for the fifth straight meeting last month, at a range of 5.25-5.5%. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal. - - But Wednesday’s Consumer Price Index report suggests that getting to that goal will continue to be a turbulent ride. - - Consumer prices rose 3.5% in March from a year earlier, up considerably from February’s 3.2% and higher than the 3.4% economists were excepting. On a monthly basis, consumer prices jumped 0.4% in March, also above expectations. Surging gas prices and sky-high mortgages and rent were the culprits behind the hotter-than-expected reading. - - Stocks tanked on Wednesday after the report was released as bond yields shot up. The odds that the first rate cut will come in June also dropped after CPI was released, according to futures. Goldman Sachs pushed back its call for the first rate cut to July from June and Bank of America is now projecting a June rate cut with “low confidence.” - - “The likelihood of a June Fed rate cut declined materially today,” Ronald Temple, chief market strategist at Lazard, said in a note Wednesday. “Three months of surprisingly strong services inflation are difficult to explain away and suggest that demand strength could be sustaining elevated US inflation, which limits the Fed’s ability to ease policy.” - - According to the Fed minutes, officials generally noted that “they continued to expect that inflation would return to 2 percent over the medium term.” Economists have been expecting slowing rent growth to filter through to inflation gauges. Powell said it is only a matter of time until it happens, but that hasn’t happened yet. Insurance costs have also been pushing up inflation. - - Last year, inflation slowed considerably thanks to improving supply-side conditions, such as a bigger workforce due to immigration, and more efficient supply chains. It remains to be seen whether the supply side will continue to drag inflation lower this year or if weakening consumer demand and potentially rising unemployment will play more of a role. - - The timing of that first rate cut remains a key issue for the Fed because there are economic consequences if the central bank cuts too soon — or if it cuts too late. That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled. But time is of the essence since it’s already been three months of surprising inflation growth. - - Powell frequently says that the road down to 2% will likely be a bumpy one, and it has been. The Fed chief said last month that the disappointing inflation readings for the beginning of the year might have been due to “seasonal factors,” but not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to the minutes.",CNN,10/04/2024,"['Federal Reserve officials said during their March policymaking meeting that inflation will likely continue to slow this year, according to minutes released Wednesday, but some still fretted over the possibility that inflation could remain stubbornly high.', 'Those fears have now worsened, at leaston Wall Street, which means that interest rates could remain higher for longer if prices don’t budge.', 'While Fed officials “observed that significant progress had been made over the past year” despite disappointing inflation readings for January and February, some also “noted that the recent increases in inflation had been relatively broad based,” the minutes said.', 'The Fed kept its key interest rate at a two-decade highfor the fifth straight meetinglast month, at a range of 5.25-5.5%.', 'Fed Chair Jerome Powell has said that policymakers want to seemore evidencethat inflation is headed toward their 2% goal.', 'But Wednesday’s Consumer Price Index report suggests that getting to that goal will continue to be a turbulent ride.', 'Consumer pricesrose 3.5% in March from a year earlier, up considerably from February’s 3.2% and higher than the 3.4% economists were excepting.', 'On a monthly basis, consumer prices jumped 0.4% in March, also above expectations.', 'Surging gas prices and sky-high mortgages and rent were the culprits behind the hotter-than-expected reading.', 'Stocks tanked on Wednesday after the report was released as bond yields shot up.', 'The odds that the first rate cut will come in June also dropped after CPI was released, according to futures.', 'Goldman Sachs pushed back its call for the first rate cut to July from June and Bank of America is now projecting a June rate cut with “low confidence.”', '“The likelihood of a June Fed rate cut declined materially today,” Ronald Temple, chief market strategist at Lazard, said in a note Wednesday. “', 'Three months of surprisingly strong services inflation are difficult to explain away and suggest that demand strength could be sustaining elevated US inflation, which limits the Fed’s ability to ease policy.”', 'According to the Fed minutes, officials generally noted that “they continued to expect that inflation would return to 2 percent over the medium term.”', 'Economists have been expecting slowing rent growth to filter through to inflation gauges.', 'Powell said it is only a matter of time until it happens, but that hasn’t happened yet.', 'Insurance costs have also been pushing up inflation.', 'Last year, inflation slowed considerably thanks to improving supply-side conditions, such as a bigger workforce due to immigration, and more efficient supply chains.', 'It remains to be seen whether the supply side will continue to drag inflation lower this year or if weakening consumer demand and potentially rising unemployment will play more of a role.', 'The timing of that first rate cut remains a key issue for the Fed because there are economic consequences if the central bank cuts too soon — or if it cuts too late.', 'That’s why the Fed is waiting for more data before making any conclusions about the economy, including whether inflation has indeed stalled.', 'But time is of the essence since it’s already been three months of surprising inflation growth.', 'Powell frequently says that the road down to 2% will likely be a bumpy one, and it has been.', 'The Fed chief said last month that the disappointing inflation readings for the beginning of the year might have been due to “seasonal factors,” but not all Fed policymakers agreed with that assessment during the March meeting, saying that “the recent increases in inflation had been relatively broad based and therefore should not be discounted as merely statistical aberrations,” according to the minutes.']",0.0412084692362285,"Three months of surprisingly strong services inflation are difficult to explain away and suggest that demand strength could be sustaining elevated US inflation, which limits the Fed’s ability to ease policy.”",It remains to be seen whether the supply side will continue to drag inflation lower this year or if weakening consumer demand and potentially rising unemployment will play more of a role.,-0.2583298656073483,"On a monthly basis, consumer prices jumped 0.4% in March, also above expectations.","“The likelihood of a June Fed rate cut declined materially today,” Ronald Temple, chief market strategist at Lazard, said in a note Wednesday. “",2024-04-10 -Boom times for US green energy as federal cash flows in,https://www.bbc.co.uk/news/business-68667140,2024-04-08T23:03:36.000Z,"In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil. The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive. The second plant would add to its facility in Soperton, Georgia - the world's first commercial scale ethanol-to-SAF plant. ""We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place."" Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy. The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy. With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology. The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries. Consumers can also receive tax credits, for example for buying an EV or installing a heat pump. The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years). Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects. Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law. One company to benefit so far is EV battery recycling company Ascend Elements. It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""There is a clear sense that America has become more serious about transitioning to a cleaner economy."" While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments. According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits. The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long. But experts believe it is rising. Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data. Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023. The IRA has had two main positive effects thus far, says Mr Houser. It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries. It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser. But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA. On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections. Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within. The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties. Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm. The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL. For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this. It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet. Yet others argue the US can't afford not to do take this path. And the point of the loans program is to take risks to help unlock new solutions that scale. ""It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm. More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more. Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""The US wasn't a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm. The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030. In the UK, chancellor Jeremy Hunt has made clear he isn't interested, nor can the UK afford to copy the IRA's approach in some ""distortive global subsidy race"" and will stick to other ways of helping. The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy. A global audience will be watching as the US's clean energy juggernaut unfolds. And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut. ",BBC,08/04/2024,"['In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil.', 'The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive.', 'The second plant would add to its facility in Soperton, Georgia - the world\'s first commercial scale ethanol-to-SAF plant. ""', 'We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""', 'Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.', 'The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy.', 'With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology.', 'The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries.', 'Consumers can also receive tax credits, for example for buying an EV or installing a heat pump.', 'The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years).', 'Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects.', 'Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.', 'One company to benefit so far is EV battery recycling company Ascend Elements.', 'It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[', 'The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""', 'There is a clear sense that America has become more serious about transitioning to a cleaner economy.""', 'While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider.', 'Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments.', 'According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits.', ""The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long."", 'But experts believe it is rising.', 'Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.', 'Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023.', 'The IRA has had two main positive effects thus far, says Mr Houser.', 'It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.', 'It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF.', 'While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser.', ""But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA."", ""On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections."", 'Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within.', 'The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.', 'Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""', 'A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm.', 'The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL.', ""For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this."", 'It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.', ""Yet others argue the US can't afford not to do take this path."", 'And the point of the loans program is to take risks to help unlock new solutions that scale. ""', 'It would be failing if there weren\'t any so called \'failures\' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.', ""More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more."", 'Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""', 'The US wasn\'t a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm.', ""The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year."", ""It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030."", 'In the UK, chancellor Jeremy Hunt has made clear he isn\'t interested, nor can the UK afford to copy the IRA\'s approach in some ""distortive global subsidy race"" and will stick to other ways of helping.', 'The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy.', ""A global audience will be watching as the US's clean energy juggernaut unfolds."", ""And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.""]",0.3325934479260706,"And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.","It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.",0.3432436046146211,"Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.","But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA.",2024-04-10 -"Japan seeks investment in AI, semiconductors from American companies",https://edition.cnn.com/2024/04/10/tech/japan-seeks-us-investment-ai-semiconductors-intl-hnk/index.html," - Updated - 3:37 AM EDT, Wed April 10, 2024 - ","Once seen as America’s greatest economic challenger, Japan is now looking to team up with the world’s biggest economy by appealing directly to US executives to invest in the Asian country’s emerging tech sectors including artificial intelligence (AI), semiconductors and clean energy. - - Speaking in Washington at a lunch with American CEOs, Prime Minister Fumio Kishida said Japan welcomes American collaboration in “critical and emerging technology” and assured them that any investment would flow both ways. - - “The economic growth our country obtains through your investments shall serve as the funding source of further investments into the United States by Japanese entities,” he said Tuesday. - - Kishida is in the US ahead of a Wednesday summit with President Joe Biden expected to focus on defense and economic ties. - - Last year, Japanese foreign direct investment to the US exceeded $750 billion, Kishida said, making Japan the biggest foreign investor in America and creating more than 1 million jobs. - - Shortly before the lunch, Microsoft (MSFT) announced it plans to invest $2.9 billion to increase its cloud computing and AI infrastructure in Japan, and open its first Microsoft Research Asia lab in the country. It is reportedly the company’s largest ever investment in Asia’s second largest economy. - - Microsoft’s vice chairman and president, Brad Smith, attended the event along with more than a dozen other executives including IBM (IBM) Vice Chairman Gary Cohn; Micron Technology (MU) CEO Sanjay Mehrotra; Boeing (BA) Defense, Space & Security CEO Ted Colbert and Pfizer (PFE) CEO Albert Bourla. - - The closer business ties between Washington and Tokyo come as the two countries seek to modernize their political and military alliance. Both are eyeing regional threats from North Korea’s weapons testing and burgeoning relations with Russia to China’s aggression in the South China Sea and toward Taiwan. - - Speaking to CNN in Tokyo ahead of his trip, Kishida said spiraling geopolitical tensions have pushed the world to a “historic turning point” and are forcing Japan to change its defense posture. - - At the lunch event, hosted by the US Chamber of Commerce in Washington, the prime minister praised US-Japan joint investment in the semiconductor industry. Rapidus, a Tokyo-backed chipmaker, is working with IBM to bring advanced chip technology to Japan. - - “In the semiconductor field, Rapidus is partnering with a US company in research and development of next-generation chips. And there will surely be more such opportunities for collaboration between Japan and the United States,” he said. - - Earlier this month, Japan’s industry ministry approved subsidies worth up to 590 billion yen ($3.9 billion) for Rapidus. That’s on top of some 330 billion yen ($2.17 billion) in subsidies already pledged by the government. - - Utilizing technology from IBM, Rapidus is building a semiconductor fabrication plant, or fab, on the island of Hokkaido. It aims to start pilot production of two-nanometer chips from April 2025, with mass production intended to begin in 2027, the chipmaker previously told CNN. - - Japan once dominated the global semiconductor industry, but it lost its lead years ago to the likes of TSMC, Intel (INTC) and Samsung. - - Rapidus is meant to mark the country’s comeback in chipmaking. It comes as Washington adds increasing restrictions on the types of semiconductors that American companies are able to sell to China. - - The tech rivalry between the world’s two largest economies has been heating up in recent years. Over the past year, the US has enlisted its allies in Europe and Asia, including Japan, to restrict sales of advanced chipmaking equipment to China. - - On Tuesday, Kishida also sought to dispel doubts about the strength of the Japanese economy, which lost its position as the world’s third largest economy to Germany earlier this year. - - “We are hopeful that 2024 will be the year for the Japanese economy to completely break free from the deflationary sentiment and cost-cutting, scaling down mentality that had weighed heavily on our nation,” he said. - - Last month, Japan brought an end to its era of negative interest rates with its first rate hike in 17 years, marking a historic shift away from an aggressive monetary easing program that was implemented years ago to fight chronic deflation. - - — CNN’s Mayumi Maruyama contributed reporting.",CNN,10/04/2024,"['Once seen as America’s greatest economic challenger, Japan is now looking to team up with the world’s biggest economy by appealing directly to US executives to invest in the Asian country’s emerging tech sectors including artificial intelligence (AI), semiconductors and clean energy.', 'Speaking in Washington at a lunch with American CEOs, Prime Minister Fumio Kishida said Japan welcomes American collaboration in “critical and emerging technology” and assured them that any investment would flow both ways.', '“The economic growth our country obtains through your investments shall serve as the funding source of further investments into the United States by Japanese entities,” he said Tuesday.', 'Kishida is in the US ahead of a Wednesday summit with President Joe Biden expected to focus on defense and economic ties.', 'Last year, Japanese foreign direct investment to the US exceeded $750 billion, Kishida said, making Japan the biggest foreign investor in America and creating more than 1 million jobs.', 'Shortly before the lunch, Microsoft (MSFT) announced it plans to invest $2.9 billion to increase its cloud computing and AI infrastructure in Japan, and open its first Microsoft Research Asia lab in the country.', 'It is reportedly the company’s largest ever investment in Asia’s second largest economy.', 'Microsoft’s vice chairman and president, Brad Smith, attended the event along with more than a dozen other executives including IBM (IBM) Vice Chairman Gary Cohn; Micron Technology (MU) CEO Sanjay Mehrotra; Boeing (BA) Defense, Space & Security CEO Ted Colbert and Pfizer (PFE) CEO Albert Bourla.', 'The closer business ties between Washington and Tokyo come as the two countries seek to modernize their political and military alliance.', 'Both are eyeing regional threats fromNorth Korea’s weapons testingand burgeoning relations with Russia to China’s aggression in the South China Sea and toward Taiwan.', 'Speaking to CNN in Tokyo ahead of his trip, Kishida said spiraling geopolitical tensions have pushed the world to a “historic turning point” and are forcingJapanto change its defense posture.', 'At the lunch event, hosted by the US Chamber of Commerce in Washington, the prime minister praised US-Japan joint investment in the semiconductor industry.', 'Rapidus, a Tokyo-backed chipmaker, is working with IBM to bring advanced chip technology to Japan.', '“In the semiconductor field, Rapidus is partnering with a US company in research and development of next-generation chips.', 'And there will surely be more such opportunities for collaboration between Japan and the United States,” he said.', 'Earlier this month, Japan’s industry ministry approved subsidies worth up to 590 billion yen ($3.9 billion) for Rapidus.', 'That’s on top of some 330 billion yen ($2.17 billion) in subsidies already pledged by the government.', 'Utilizing technology from IBM, Rapidus is building a semiconductor fabrication plant, or fab, on the island of Hokkaido.', 'It aims to start pilot production of two-nanometer chips from April 2025, with mass production intended to begin in 2027, the chipmaker previously told CNN.', 'Japan once dominated the global semiconductor industry, but it lost its lead years ago to the likes of TSMC, Intel (INTC) and Samsung.', 'Rapidus is meant to mark the country’s comeback in chipmaking.', 'It comes as Washington adds increasing restrictions on the types of semiconductors that American companies are able to sell to China.', 'The tech rivalry between the world’s two largest economies has been heating up in recent years.', 'Over the past year, the US has enlisted its allies inEuropeandAsia, including Japan, to restrict sales of advanced chipmaking equipment to China.', 'On Tuesday, Kishida also sought to dispel doubts about the strength of the Japanese economy, which lost its position as the world’s third largest economy to Germany earlier this year.', '“We are hopeful that 2024 will be the year for the Japanese economy to completely break free from the deflationary sentiment and cost-cutting, scaling down mentality that had weighed heavily on our nation,” he said.', 'Last month, Japan brought an end to its era of negative interest rates with its first rate hike in 17 years, marking a historic shift away from an aggressive monetary easing program that was implemented years ago to fight chronic deflation.', '— CNN’s Mayumi Maruyama contributed reporting.']",0.1858591018277013,"Once seen as America’s greatest economic challenger, Japan is now looking to team up with the world’s biggest economy by appealing directly to US executives to invest in the Asian country’s emerging tech sectors including artificial intelligence (AI), semiconductors and clean energy.",Both are eyeing regional threats fromNorth Korea’s weapons testingand burgeoning relations with Russia to China’s aggression in the South China Sea and toward Taiwan.,0.3802599012851715,"Earlier this month, Japan’s industry ministry approved subsidies worth up to 590 billion yen ($3.9 billion) for Rapidus.","On Tuesday, Kishida also sought to dispel doubts about the strength of the Japanese economy, which lost its position as the world’s third largest economy to Germany earlier this year.",2024-04-10