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+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
+Target shares slide as consumers buy fewer groceries and home goods,https://www.cnbc.com/2024/05/22/target-tgt-q1-2024-earnings.html,2024-05-22T20:31:45+0000,"In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries. The Minneapolis-based discounter's revenue in the fiscal first quarter was about in line with expectations.On a call with reporters, CEO Brian Cornell said the company's results reflect ""continued soft trends in discretionary categories."" He said the company wants to make sure it offers customers value and communicates that in a clear way, with moves like its relaunched loyalty program. Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers.Target stuck with its prior full-year forecast, saying it expects comparable sales will range from flat to up 2% and adjusted earnings per share will be $8.60 to $9.60. Company leaders said the retailer is on track to return to sales growth in the second quarter.Shares of the company closed about 8% lower on Wednesday.Here's what Target reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:It marked the first time since November 2022 that Target missed earnings expectations. Target's net income for the period fell by less than 1% to $942 million, or $2.03 per share, from $950 million, or $2.05 per share, in the year-ago quarter. Total revenue declined about 3% from $25.32 billion in the prior year.Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items. The cheap chic retailer has been particularly hurt by the dynamic because it gets less of its sales from food than rival Walmart, which draws about 60% of its U.S. sales from groceries. That compares with roughly 20% at Target.Inflation cooled slightly in April, but the consumer price index was still up 3.4% on a year-over-year basis. The key measure gauges how much goods and services cost at the cash register.Target acknowledged that challenge with this week's price cuts. The company is also competing with other discounters, including Walmart, Aldi and Lidl, that are chasing deal-hunting shoppers.Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5. The company's CFO, John David Rainey, also said last week that customers are turning to its grocery aisles for cheaper meals because of the rising prices of fast food.In Target's first quarter, customer traffic, which includes online and stores, fell 1.9%. The average amount that customers spent on those visits dropped 1.9%, too.Digital sales grew 1.4%. It marked the first increase in digital sales in more than a year.Comparable sales, also called same-store sales, tumbled 3.7%, as shoppers bought beauty items but less of other discretionary categories like apparel and home. That decline was in line with what analysts expected, according to StreetAccount.Discretionary merchandise wasn't the only part of the store under pressure. Sales in frequency categories, food and beverage and beauty and household essentials, declined by low single digits, Chief Growth Officer Christina Hennington said on a call with reporters.Still, Hennington said Target is seeing some encouraging trends compared with recent quarters. Sales of apparel improved by nearly 4 percentage points from the fiscal fourth quarter, as customers bought outfits for spring.She said Target's limited-time collection with Diane von Furstenberg drove millions of unique visits to the retailer's website each day of the launch week and lifted the size of customers' baskets by around 15% on average.Other unique items also drove spending, she said. They included its partnership with tennis and lifestyle brand Prince to sell pickleball gear and Taylor Swift's latest album, which Target capitalized on with in-store events and photo ops.– CNBC's Robert Hum contributed to this report.",CNBC,22/05/2024,"[""In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries."", ""The Minneapolis-based discounter's revenuein the fiscal first quarterwas about in line with expectations."", 'On a call with reporters, CEO Brian Cornell said the company\'s results reflect ""continued soft trends in discretionary categories.', '""He said the company wants to make sure it offers customers value and communicates that in a clear way, with moves like its relaunched loyalty program.', 'Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers.', 'Target stuck with its prior full-year forecast, saying it expects comparable sales will range from flat to up 2% and adjusted earnings per share will be $8.60 to $9.60.Company leaders said the retailer is on track to return to sales growth in the second quarter.', 'Shares of the company closed about 8% lower on Wednesday.', ""Here's what Target reported for thethree-month periodthat ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:It marked the first time since November 2022 that Target missed earnings expectations."", ""Target's net income for the period fell by less than 1% to $942 million, or $2.03 per share, from $950 million, or $2.05 per share, in the year-ago quarter."", 'Total revenue declined about 3% from $25.32 billion in the prior year.', 'Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items.', 'The cheap chic retailer has been particularly hurt by the dynamic because it gets less of its sales from food than rival Walmart, which draws about 60% of its U.S. sales from groceries.', 'That compares with roughly 20% at Target.', 'Inflation cooled slightly in April, but the consumer price index was still up 3.4% on a year-over-year basis.', 'The key measure gauges how much goods and services cost at the cash register.', ""Target acknowledged that challenge with this week's price cuts."", 'The company is also competing with other discounters, including Walmart, Aldi and Lidl, that are chasing deal-hunting shoppers.', 'Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5.', ""The company's CFO, John David Rainey, also said last week that customers are turning to its grocery aisles for cheaper meals because of the rising prices of fast food."", ""In Target's first quarter, customer traffic, which includes online and stores, fell 1.9%."", 'The average amount that customers spent on those visits dropped 1.9%, too.', 'Digital sales grew 1.4%.', 'It marked the first increase in digital sales in more than a year.', 'Comparable sales, also called same-store sales, tumbled 3.7%, as shoppers bought beauty items but less of other discretionary categories like apparel and home.', 'That decline was in line with what analysts expected, according to StreetAccount.', ""Discretionary merchandise wasn't the only part of the store under pressure."", 'Sales in frequency categories, food and beverage and beauty and household essentials, declined by low single digits, Chief Growth Officer Christina Hennington said on a call with reporters.', 'Still, Hennington said Target is seeing some encouraging trends compared with recent quarters.', 'Sales of apparel improved by nearly 4 percentage points from the fiscal fourth quarter, as customers bought outfits for spring.', ""She said Target's limited-time collection with Diane von Furstenberg drove millions ofunique visits to the retailer's website each day of the launch week and lifted the size of customers' baskets by around 15% on average."", 'Other unique items also drove spending, she said.', ""They included its partnership with tennis and lifestyle brand Prince to sell pickleball gear and Taylor Swift's latest album, which Target capitalized on with in-store events and photo ops.–"", ""CNBC's Robert Hum contributed to this report.""]",0.1263318924181622,"""He said the company wants to make sure it offers customers value and communicates that in a clear way, with moves like its relaunched loyalty program.","In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries.",0.0501110100746154,Digital sales grew 1.4%.,"In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries.",2024-05-23
+"Boeing expects a 2024 cash burn, slow recovery of airplane deliveries amid crisis, CFO says",https://www.cnbc.com/2024/05/23/boeing-cfo-deliveries-cash-flow-max-crisis.html,2024-05-23T18:53:56+0000,"In this articleBoeing will burn through cash this year and deliveries of new planes won't improve in the second quarter from the first, as the manufacturer deals with a host of production challenges tied to its bestselling planes, the company's CFO, Brian West, said Thursday.A month ago, West forecast Boeing would generate free cash flow ""in the low single-digit billions."" The new forecast shows the mounting costs of the plane maker's latest crises.Boeing burned through nearly $4 billion in cash in the first quarter and West said that figure could be similar or ""possibly a little worse"" in the second quarter, but that the company would likely return to generating cash in the second half of 2024.The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic. The bulk of a plane's price is paid when it's handed over to a customer.Boeing's shares were down 7% in afternoon trading after West's comments at a Wolfe Research industry conference.""We have frustrated and disappointed our customers because of some of the production supply chain issues that we're up against,"" West said at the conference. ""And while I understand that frustration, the most important thing we can do for our customers and the supply chain in the industry is to focus on the actions that are underway as we speak so that we could stabilize this production system, improve quality, and get more predictable.""Boeing CEO Dave Calhoun in March said he would step down by the end of the year, and the company replaced the chairman and chief executive of its commercial airplane unit. Leading up to the shake-up, CEOs of major airline customers complained about delivery delays and difficulty planning flights because of surprise disruptions.Boeing's latest production issues surfaced after a door plug blew out midair from a nearly new 737 Max 9 at the start of the year, just as the company was trying to repair years of reputational damage from two fatal Max crashes in 2018 and 2019.The accident increased federal scrutiny of the company, whose executives have vowed to stamp out production flaws and regain the trust of regulators, airline customers and the public.Next Thursday, Boeing leaders are set to meet with the Federal Aviation Administration to present the company's plan to improve its quality control, the FAA said. The agency gave Boeing 90 days to complete the plan starting in late February.Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder. Boeing said in a statement that it is working with ""our Chinese customers on the timing of their deliveries as the Civil Aviation Administration of China completes its review of batteries contained within the 25-hour cockpit voice recorder assembly unit.""Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said. American Airlines last month said it would cut some international flights because of delays for the wide-body jets. Other carriers, including United Airlines and Southwest Airlines, said they had to scale back some of their growth and hiring plans because of delayed Boeing jets.",CNBC,23/05/2024,"[""In this articleBoeing will burn through cash this year and deliveries of new planes won't improve in the second quarter from the first, as the manufacturer deals with a host of production challenges tied to its bestselling planes, the company's CFO, Brian West, said Thursday."", 'A month ago, West forecast Boeing would generate free cash flow ""in the low single-digit billions.""', ""The new forecast shows the mounting costs of the plane maker's latest crises."", 'Boeing burned through nearly $4 billion in cash in the first quarter and West said that figure could be similar or ""possibly a little worse"" in the second quarter, but that the company would likely return to generating cash in the second half of 2024.The company\'s aircraft deliveries in the first quarter fell to the lowest level since the pandemic.', ""The bulk of a plane's price is paid when it's handed over to a customer."", ""Boeing's shares were down 7% in afternoon trading after West's comments at a Wolfe Research industry conference."", '""We have frustrated and disappointed our customers because of some of the production supply chain issues that we\'re up against,"" West said at the conference. ""', 'And while I understand that frustration, the most important thing we can do for our customers and the supply chain in the industry is to focus on the actions that are underway as we speak so that we could stabilize this production system, improve quality, and get more predictable.', '""Boeing CEO Dave Calhoun in March said he would step down by the end of the year, and the company replaced the chairman and chief executive of its commercial airplane unit.', 'Leading up to the shake-up, CEOs of major airline customers complained about delivery delays and difficulty planning flights because of surprise disruptions.', ""Boeing's latest production issues surfaced after a door plug blew out midair from a nearly new 737 Max 9 at the start of the year, just as the company was trying to repair years of reputational damage from two fatal Max crashes in 2018 and 2019.The accident increased federal scrutiny of the company, whose executives have vowed to stamp out production flaws and regain the trust of regulators, airline customers and the public."", ""Next Thursday, Boeing leaders are set to meet with the Federal Aviation Administration to present the company's plan to improve its quality control, the FAA said."", 'The agency gave Boeing 90 days to complete the plan starting in late February.', 'Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder.', 'Boeing said in a statement that it is working with ""our Chinese customers on the timing of their deliveries as the Civil Aviation Administration of China completes its review of batteries contained within the 25-hour cockpit voice recorder assembly unit.', '""Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said.', 'American Airlines last month said it would cut some international flights because of delays for the wide-body jets.', 'Other carriers, including United Airlines and Southwest Airlines, said they had to scale back some of their growth and hiring plans because of delayed Boeing jets.']",-0.0749716673131172,"Other carriers, including United Airlines and Southwest Airlines, said they had to scale back some of their growth and hiring plans because of delayed Boeing jets.","""We have frustrated and disappointed our customers because of some of the production supply chain issues that we're up against,"" West said at the conference. """,-0.5335301573459919,"A month ago, West forecast Boeing would generate free cash flow ""in the low single-digit billions.""","Boeing burned through nearly $4 billion in cash in the first quarter and West said that figure could be similar or ""possibly a little worse"" in the second quarter, but that the company would likely return to generating cash in the second half of 2024.The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic.",2024-05-23
+"Wendy's will offer $3 breakfast deal, as rivals such as McDonald's test value meals to drive sales",https://www.cnbc.com/2024/05/20/wendys-will-offer-breakfast-meal-deal-after-mcdonalds.html,2024-05-20T20:20:07+0000,"In this articleWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out.The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.The promotion comes as Wendy's rival McDonald's plans a similar yet limited value meal option as it tries to boost traffic. Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25.Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback. Other fast-casual chains have enjoyed strong sales despite higher prices.As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million. Its same-restaurant sales worldwide grew only 0.9% in the quarter.McDonald's missed first-quarter earnings expectations last month. Although higher prices have helped the chain's revenue, they have scared away some low-income customers. Chief Financial Officer Ian Borden said the company has adopted a ""street-fighting mentality"" to compete for value-minded diners.KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates. The company cited same-store sales declines for KFC and Pizza Hut.",CNBC,20/05/2024,"[""In this articleWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out."", 'The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.', ""The promotion comes as Wendy's rival McDonald's plans a similar yet limited value meal option as it tries to boost traffic."", ""Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25.Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback."", 'Other fast-casual chains have enjoyed strong sales despite higher prices.', 'As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.', ""Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million."", 'Its same-restaurant sales worldwide grew only 0.9% in the quarter.', ""McDonald's missed first-quarter earnings expectations last month."", ""Although higher prices have helped the chain's revenue, they have scared away some low-income customers."", 'Chief Financial Officer Ian Borden said the company has adopted a ""street-fighting mentality"" to compete for value-minded diners.', 'KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.', 'The company cited same-store sales declines for KFC and Pizza Hut.']",-0.0395152853201782,Other fast-casual chains have enjoyed strong sales despite higher prices.,"KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.",-0.1785422265529632,Other fast-casual chains have enjoyed strong sales despite higher prices.,"KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.",2024-05-23
+Elon Musk launches SpaceX’s satellite internet service in Indonesia,https://edition.cnn.com/2024/05/20/tech/indonesia-elon-musk-starlink-launch-intl-hnk/index.html,"
+  Published
+        12:19 AM EDT, Mon May 20, 2024
+    ","Denpasar, Indonesia — Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX’s satellite internet service for the nation’s health sector on Sunday, aiming to improve access in remote parts of the sprawling archipelago.
+    
+            Musk, the billionaire head of SpaceX and Tesla (TSLA), arrived on the Indonesian resort island of Bali by private jet before attending the launch ceremony at a community health center in the provincial capital, Denpasar.
+    
+            Musk, wearing a green batik shirt, said the availability of the Starlink service in Indonesia would help millions in far-flung parts of the country to access the internet. The country is home to more than 270 million people and three different time zones.
+    
+            “I’m very excited to bring connectivity to places that have low connectivity,” Musk said, “If you have access to the internet you can learn anything.”
+    
+            Starlink was launched at three Indonesian health centers on Sunday, including two in Bali and one on the remote island of Aru in Maluku.
+    
+            A video presentation screened at the launch showed how high internet speeds enabled the real-time input of data to better tackle health challenges such as stunting and malnutrition.
+    
+            Asked about whether he planned to also invest in Indonesia’s electric vehicle industry, Musk said he was focused on Starlink first.
+    
+            “We are focusing this event on Starlink and the benefits that connectivity brings to remote islands,” he said, “I think it’s really to emphasize the importance of internet connectivity, how much of that can be a lifesaver.”
+    
+            Indonesia’s government has been trying for years to lure Musk’s auto firm Tesla to build manufacturing plants related to electric vehicles as the government wants to develop its EV sector using the country’s rich nickel resources.
+    
+            The tech tycoon is scheduled to meet Indonesian President Joko Widodo on Monday, where he will also address the World Water Forum taking place on the island.
+    
+            Communications Minister Budi Arie Setiadi, who also attended the Bali launch, said Starlink was now available commercially, but the government would focus its services first for outer and underdeveloped regions.
+    
+            Prior to Sunday’s launch, Starlink obtained a permit to operate as an internet service provider for retail consumers and had been given the go-ahead to provide networks, having received a very small aperture terminal (VSAT) permit, Budi Setiadi told Reuters.
+    
+            SpaceX’s Starlink, which owns around 60% of the roughly 7,500 satellites orbiting earth, is dominant in the satellite internet sphere.
+    
+            Indonesia is the third country in Southeast Asia where Starlink will operate. Malaysia issued the firm a license to provide internet services last year, and a Philippine-based firm signed a deal with SpaceX in 2022.
+    
+            Starlink is also used extensively in Ukraine, where it is employed by the military, hospitals, businesses and aid organizations.",CNN,20/05/2024,"['Denpasar, Indonesia — ElonMuskand Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX’s satellite internet service for the nation’s health sector on Sunday, aiming to improve access in remote parts of the sprawling archipelago.', 'Musk, the billionaire head of SpaceX and Tesla (TSLA), arrived on the Indonesian resort island of Bali by private jet before attending the launch ceremony at a community health center in the provincial capital, Denpasar.', 'Musk, wearing a green batik shirt,said the availability ofthe Starlink service inIndonesia would help millions in far-flung parts of the country to access the internet.', 'The country is home to more than 270 million people and three different time zones.', '“I’m very excited to bring connectivity to places that have low connectivity,”Musksaid, “If you have access to the internet you can learn anything.”', 'Starlink was launched at three Indonesian healthcenterson Sunday, including two in Bali and one on the remote island of Aru in Maluku.', 'A video presentation screened at the launch showed how high internet speeds enabled the real-time input of data to better tackle health challenges such as stunting and malnutrition.', 'Asked about whether he planned to also invest in Indonesia’s electric vehicle industry,Musksaid he was focused on Starlink first.', '“We are focusing this event on Starlink and the benefits that connectivity brings to remote islands,” he said, “I think it’s really to emphasize the importance of internet connectivity, how much of that can be a lifesaver.”', 'Indonesia’s government has been trying for years to lureMusk’s auto firm Tesla to build manufacturing plants related to electric vehicles as the government wants to develop its EV sector using the country’s rich nickel resources.', 'The tech tycoon is scheduled to meet Indonesian President Joko Widodo on Monday, where he will also address the World Water Forum taking place on the island.', 'Communications Minister Budi Arie Setiadi, who also attended the Bali launch, said Starlink was now available commercially, but the government would focus its services first for outer and underdeveloped regions.', 'Prior to Sunday’s launch, Starlinkobtained a permitto operate as an internet service provider for retail consumers and had been given the go-ahead to provide networks, having received a very small aperture terminal (VSAT) permit, BudiSetiadi toldReuters.', 'SpaceX’s Starlink, which owns around 60% of the roughly 7,500 satellites orbiting earth, is dominant in the satellite internet sphere.', 'Indonesia is the third country in Southeast Asia where Starlink will operate.', 'Malaysia issued the firm a license to provide internet services last year, and a Philippine-based firm signed a deal with SpaceX in 2022.', 'Starlink is also used extensively in Ukraine, where it is employed by the military, hospitals, businesses and aid organizations.']",0.2045370842260253,"“We are focusing this event on Starlink and the benefits that connectivity brings to remote islands,” he said, “I think it’s really to emphasize the importance of internet connectivity, how much of that can be a lifesaver.”",,0.9011718545641216,"Musk, wearing a green batik shirt,said the availability ofthe Starlink service inIndonesia would help millions in far-flung parts of the country to access the internet.",,2024-05-23
+Red Lobster files for Chapter 11 bankruptcy protection,https://www.cnbc.com/2024/05/20/red-lobster-bankruptcy.html,2024-05-20T19:51:14+0000,"Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement.The seafood chain also said it has a so-called stalking horse bid from its existing lenders to buy the company, unless a higher bid comes along.CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain's need to file for Chapter 11 protection.The chain's real estate portfolio is also a ""huge problem"" created, in part, by Red Lobster's former owners Golden Gate Capital, a source familiar with the company told CNBC. When Darden Restaurants sold Red Lobster to the private equity firm in 2014, it funded the $2.1 billion acquisition partially through a $1.5 billion sale-leaseback agreement, the companies said previously. Under the terms of the arrangement, the majority, if not all, of Red Lobster's locations were sold off, and the chain had to start paying rent on properties it once owned while Golden Gate reaped the profits, the source said. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. Given how much revenue has fallen, the chain can no longer afford those leases.Red Lobster currently operates 551 locations in the U.S. and 27 restaurants in Canada. The chain closed 93 underperforming locations on May 13 and is asking the bankruptcy court to reject 108 of its leases to further slim down its footprint.The company has 36,000 employees, most of whom work in part-time roles.Orlando, Florida-based Red Lobster has assets between $1 billion and $10 billion and estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing. Its largest creditor is distributor Performance Food Group, which is claiming the company owes it $24.4 million.""This restructuring is the best path forward for Red Lobster,"" Tibus said in a statement late Sunday. ""It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth. The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.""Red Lobster was founded in 1968 and purchased by General Mills two years later. In 1995, General Mills spun off its restaurant division into Darden, which also housed sister chain Olive Garden.Nearly two decades later, Darden sold Red Lobster to Golden Gate. In 2016, Thai Union Group, a seafood supplier and one of the chain's longtime vendors, bought a stake in the company. In 2020, Thai Union, members of Red Lobster management and investors using the alias Seafood Alliance bought out Golden Gate's remaining stake in the chain.Although Red Lobster survived the pandemic, its business has struggled since then. The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing.The company's longtime CEO, Kim Lopdrup, also retired in 2021, beginning a revolving door of CEOs that left the chain with little stability to turn around the flailing business. Tibus is Red Lobster's third chief executive in as many years.In fiscal 2023, the company reported a net loss of $76 million. Some of that loss was driven by its disastrous ""endless shrimp"" promotion. Last year, it changed the offer from once a week to daily in an effort to boost slower sales in the second half of the year. But the offer juiced business too much as diners sought cheap deals, pressuring Red Lobster's bottom line.According to a court filing, the ill-conceived promotion's actual aim may have been more about boosting Thai Union's own sales. Red Lobster got rid of two of its shrimp suppliers under interim CEO Paul Kenny's leadership, leaving Thai Union as its sole supplier of the crustacean. That decision led to higher costs for Red Lobster, according to the filing. The debtors are also investigating if Thai Union and Kenny pushed excessively for in-store promotions, which often led to major shortages of shrimp.Correction: Performance Food Group is claiming Red Lobster owes it $24.4 million. An earlier version misstated the figure.",CNBC,20/05/2024,"['Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement.', 'The seafood chain also said it has a so-called stalking horse bid from its existing lenders to buy the company, unless a higher bid comes along.', 'CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases.', 'The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain\'s need to file for Chapter 11 protection.', 'The chain\'s real estate portfolio is also a ""huge problem"" created, in part, by Red Lobster\'s former owners Golden Gate Capital, a source familiar with the company told CNBC.', 'When Darden Restaurants sold Red Lobster to the private equity firm in 2014, it funded the $2.1 billion acquisition partially through a $1.5 billion sale-leaseback agreement, the companies said previously.', ""Under the terms of the arrangement, the majority, if not all, of Red Lobster's locations were sold off, and the chain had to start paying rent on properties it once owned while Golden Gate reaped the profits, the source said."", 'At the time, it was tough to predict that Red Lobster would see sales drop as much as they have.', 'Given how much revenue has fallen, the chain can no longer afford those leases.', 'Red Lobster currently operates 551 locations in the U.S. and 27 restaurants in Canada.', 'The chain closed 93 underperforming locations on May 13 and is asking the bankruptcy court to reject 108 of its leases to further slim down its footprint.', 'The company has 36,000 employees, most of whom work in part-time roles.', 'Orlando, Florida-based Red Lobster has assets between $1 billion and $10 billion and estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing.', 'Its largest creditor is distributor Performance Food Group, which is claiming the company owes it $24.4 million.', '""This restructuring is the best path forward for Red Lobster,"" Tibus said in a statement late Sunday. ""', 'It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.', ""The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests."", '""Red Lobster was founded in 1968 and purchased by General Mills two years later.', 'In 1995, General Mills spun off its restaurant division into Darden, which also housed sister chain Olive Garden.', 'Nearly two decades later, Darden sold Red Lobster to Golden Gate.', ""In 2016, Thai Union Group, a seafood supplier and one of the chain's longtime vendors, bought a stake in the company."", ""In 2020, Thai Union, members of Red Lobster management and investors using the alias Seafood Alliance bought out Golden Gate's remaining stake in the chain."", 'Although Red Lobster survived the pandemic, its business has struggled since then.', ""The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing."", ""The company's longtime CEO, Kim Lopdrup, also retired in 2021, beginning a revolving door of CEOs that left the chain with little stability to turn around the flailing business."", ""Tibus is Red Lobster's third chief executive in as many years."", 'In fiscal 2023, the company reported a net loss of $76 million.', 'Some of that loss was driven by its disastrous ""endless shrimp"" promotion.', 'Last year, it changed the offer from once a week to daily in an effort to boost slower sales in the second half of the year.', ""But the offer juiced business too much as diners sought cheap deals, pressuring Red Lobster's bottom line."", ""According to a court filing, the ill-conceived promotion's actual aim may have been more about boosting Thai Union's own sales."", ""Red Lobster got rid of two of its shrimp suppliers under interim CEO Paul Kenny's leadership, leaving Thai Union as its sole supplier of the crustacean."", 'That decision led to higher costs for Red Lobster, according to the filing.', 'The debtors are also investigating if Thai Union and Kenny pushed excessively for in-store promotions, which often led to major shortages of shrimp.', 'Correction: Performance Food Group is claiming Red Lobster owes it $24.4 million.', 'An earlier version misstated the figure.']",-0.0049559407481681,The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.,"The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain's need to file for Chapter 11 protection.",-0.3631059433284558,It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.,"The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing.",2024-05-23
+TikTok plans global layoffs in operations and marketing,https://edition.cnn.com/2024/05/22/tech/tiktok-plans-global-layoffs-operations-marketing/index.html,"
+  Published
+        12:36 PM EDT, Wed May 22, 2024
+    ","TikTok is planning to lay off large swaths of its operations and marketing workforce, current employees briefed on the plans told CNN.
+    
+            The global layoffs are expected to hit teams that handle user support and communications, as well as content and marketing. TikTok’s current global user operations team will be dismantled as part of the move, and remaining employees will be distributed among the company’s trust and safety, marketing, content and product teams.
+    
+            News of the layoffs was first reported by The Information. TikTok didn’t respond to a request for comment.
+    
+            Some TikTok employees were notified of the layoff plans Tuesday evening — after The Information’s report — when Adam Presser, the company’s head of operations, and Chief Brand and Communications Officer Zenia Mucha sent a message to affected teams, the people said.
+    
+            The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.
+    
+            The layoffs are not related to the legal and political turmoil facing the company in the United States that could end in a potential nationwide ban of the TikTok app, the person added.
+    
+            It is unclear how many TikTok employees could lose their jobs. The Information reported that a “large percentage” of the roughly 1,000 employees who work on the affected teams could be laid off. In 2023, TikTok disclosed that it had 7,000 employees in the United States alone.",CNN,22/05/2024,"['TikTok is planning to lay off large swaths of its operations and marketing workforce, current employees briefed on the plans told CNN.', 'The global layoffs are expected to hit teams that handle user support and communications, as well as content and marketing.', 'TikTok’s current global user operations team will be dismantled as part of the move, and remaining employees will be distributed among the company’s trust and safety, marketing, content and product teams.', 'News of the layoffs was first reported byThe Information.', 'TikTok didn’t respond to a request for comment.', 'Some TikTok employees were notified of the layoff plans Tuesday evening — after The Information’s report — when Adam Presser, the company’s head of operations, and Chief Brand and Communications Officer Zenia Mucha sent a message to affected teams, the people said.', 'The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.', 'The layoffs are not related to the legal and political turmoil facing the company in the United States that could end ina potential nationwide ban of the TikTok app, the person added.', 'It is unclear how many TikTok employees could lose their jobs.', 'The Information reported that a “large percentage” of the roughly 1,000 employees who work on the affected teams could be laid off.', 'In 2023, TikTokdisclosedthat it had 7,000 employees in the United States alone.']",0.0965242725197573,"The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.",It is unclear how many TikTok employees could lose their jobs.,-0.7640862464904785,,"The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.",2024-05-23
+"Home sales slipped unexpectedly in April, despite big gains in supply",https://www.cnbc.com/2024/05/22/april-existing-home-sales.html,2024-05-22T17:08:01+0000,"Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. The forecast had been for a slight gain.Sales were also down from April 2023, off 1.9% from last year.These sales are based on closings, so contracts likely signed in February and March. Mortgage rates jumped at the start of February and then held around 7% for the next two months before moving even higher in April.""When we see these mortgage rates, which is a 300 basis point increase from pre-Covid pace, we are in a new territory as to how the lock-in effect will restrain home sales,"" said Lawrence Yun, chief economist for the Realtors.Total housing inventory at the end of April was 1.21 million units, up 9% month to month and up 16% from the year before, but still just a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller. The supply of homes priced at more than $1 million, however, was up 34% year over year, which is why that segment of the market is most active.Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%.Tight supply kept prices under pressure. The median price of an existing home sold in April was $407,600, an increase of 5.7% year over year. That is another record high price for April. With multiple offers, due to strong demand, 27% of homes sold above list price.""Home prices reaching a record high for the month of April is very good news for homeowners,"" said Yun. ""However, the pace of price increases should taper off since more housing inventory is becoming available.""First-time buyers made a slight comeback, making up 33% of April sales, up from 29% the year before. The all-cash share was still relatively high, at 28% of all transactions.Regionally, sales in the Northeast fell 4% from March and 4% from April 2023. The median price in the Northeast was $458,500, up 8.5% year over year.In the Midwest, sales dropped 1% month to month and were also down 1% year over year. The median price in the Midwest was $303,600, up 6% from April 2023.Sales in the South dropped 1.6% from March and 3.1% from the year before. The median price in the South was $366,200, up 3.7% from last year.And in the West, sales were down 2.6% for the month and rose 1.3% from one year before. The median price in the West was $629,600, up 9.3% from April 2023.Correction: The supply of homes priced at more than $1 million was up 34% year over year. An earlier version misstated the percentage.",CNBC,22/05/2024,"['Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors.', 'The forecast had been for a slight gain.', 'Sales were also down from April 2023, off 1.9% from last year.', 'These sales are based on closings, so contracts likely signed in February and March.', 'Mortgage rates jumped at the start of February and then held around 7% for the next two months before moving even higher in April.', '""When we see these mortgage rates, which is a 300 basis point increase from pre-Covid pace, we are in a new territory as to how the lock-in effect will restrain home sales,"" said Lawrence Yun, chief economist for the Realtors.', 'Total housing inventory at the end of April was 1.21 million units, up 9% month to month and up 16% from the year before, but still just a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', 'The supply of homes priced at more than $1 million, however, was up 34% year over year, which is why that segment of the market is most active.', 'Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%.Tight supply kept prices under pressure.', 'The median price of an existing home sold in April was $407,600, an increase of 5.7% year over year.', 'That is another record high price for April.', 'With multiple offers, due to strong demand, 27% of homes sold above list price.', '""Home prices reaching a record high for the month of April is very good news for homeowners,"" said Yun. ""', 'However, the pace of price increases should taper off since more housing inventory is becoming available.', '""First-time buyers made a slight comeback, making up 33% of April sales, up from 29% the year before.', 'The all-cash share was still relatively high, at 28% of all transactions.', 'Regionally, sales in the Northeast fell 4% from March and 4% from April 2023.', 'The median price in the Northeast was $458,500, up 8.5% year over year.', 'In the Midwest, sales dropped 1% month to month and were also down 1% year over year.', 'The median price in the Midwest was $303,600, up 6% from April 2023.Sales in the South dropped 1.6% from March and 3.1% from the year before.', 'The median price in the South was $366,200, up 3.7% from last year.', 'And in the West, sales were down 2.6% for the month and rose 1.3% from one year before.', 'The median price in the West was $629,600, up 9.3% from April 2023.Correction: The supply of homes priced at more than $1 million was up 34% year over year.', 'An earlier version misstated the percentage.']",0.1041924059185371,"""Home prices reaching a record high for the month of April is very good news for homeowners,"" said Yun. ""","Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%.Tight supply kept prices under pressure.",0.1457016354515439,"The median price in the West was $629,600, up 9.3% from April 2023.Correction: The supply of homes priced at more than $1 million was up 34% year over year.","And in the West, sales were down 2.6% for the month and rose 1.3% from one year before.",2024-05-23
+E.l.f. Beauty shares soar 20% after retailer indicates its torrid growth may not be over,https://www.cnbc.com/2024/05/22/elf-beauty-elf-earnings-q4-2024.html,2024-05-23T15:38:27+0000,"In this articleE.l.f. Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer is expecting its growth to slow down in the current fiscal year.The eyes, lip, face company, known for its viral marketing and prowess in winning over younger consumers, issued guidance that came in lower than analysts had forecast.Shares of E.l.f. fell after its report was initially released, but later jumped after the company suggested that its guidance was conservative.""Last year, we started our guidance at 22% to 24% range, ended the year at 77%,"" finance chief Mandy Fields told analysts. ""I'm not saying that we're promising 77% this year for sure. But what I will say is that gives you a little bit of insight into our guidance philosophy and what has worked well for us over these last five years, taking it one quarter at a time.""Shares were more than 20% higher in morning trading on Thursday.Here is how E.l.f. Beauty did in its fourth fiscal quarter compared to what Wall Street was expecting, based on a survey of analysts by LSEG:The company reported net income for the three-month period that ended March 31 was $14.53 million, or 25 cents per share, compared to $16.25 million, or 29 cents per share, a year earlier. Excluding one-time items, E.l.f. posted earnings of 53 cents per share. Sales rose to $321.1 million, up about 71% from $187.4 million a year earlier.For the full year, the company's sales grew to $1.02 billion, an increase of 77% from the year-ago period.E.l.f. Beauty has been on a tear over the past year, posting sales gains in the high double-digit percentages quarter after quarter as consumers flock to its low-priced beauty products either through its own website or at retailers such as Walmart and Target. In a statement, E.l.f. CEO Tarang Amin said he believes the company is still in the ""early innings"" of its growth story and expects more to come in cosmetics, skin care and in international markets. Its guidance reflects that sentiment, but even so, the company expects to grow at a slower pace than Wall Street anticipated. E.l.f. expects net sales to be between $1.23 billion and $1.25 billion, which would be an increase of 20% to 22%. That is below the $1.27 billion, or 27.4% uptick, that analysts had expected.The company is forecasting adjusted net income to be between $187 million and $191 million, and adjusted earnings to be between $3.20 and $3.25 per share. That is below the $3.51 that analysts had expected, according to LSEG. Last month, Ulta Beauty CEO Dave Kimbell threw cold water on the red-hot beauty category when he warned that demand for cosmetics was cooling, sending its stock down 15% that day and hitting shares of E.l.f, Estée Lauder and Coty.""We have seen a slowdown in the total category,"" Kimbell said at an investor conference hosted by JPMorgan Chase. ""We came into the year — and we talked about this on our [earnings] call a few weeks ago — expecting the category to moderate. It has [had], as I said, several years of strong growth. We did not anticipate it would continue at the rate that it's been growing.""He added that the slowdown has been ""a bit earlier"" and a ""bit bigger than we thought."" Just how much Ulta's sales have slowed remains to be seen, but the beauty giant has seen strong sales of E.l.f. products. During a call with analysts, Amin said that it grew its business with Ulta by 80% in fiscal 2024 — ""well above where the overall growth rates were.""Read E.l.f.'s full earnings release here.",CNBC,23/05/2024,"['In this articleE.l.f.', 'Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer is expecting its growth to slow down in the current fiscal year.', 'The eyes, lip, face company, known for its viral marketing and prowess in winning over younger consumers, issued guidance that came in lower than analysts had forecast.', 'Shares of E.l.f.', 'fell after its report was initially released, but later jumped after the company suggested that its guidance was conservative.', '""Last year, we started our guidance at 22% to 24% range, ended the year at 77%,"" finance chief Mandy Fields told analysts. ""', ""I'm not saying that we're promising 77% this year for sure."", 'But what I will say is that gives you a little bit of insight into our guidance philosophy and what has worked well for us over these last five years, taking it one quarter at a time.', '""Shares were more than 20% higher in morning trading on Thursday.', 'Here is how E.l.f.', 'Beauty did in its fourth fiscal quarter compared to what Wall Street was expecting, based on a survey of analysts by LSEG:The company reported net income for the three-month period that ended March 31 was $14.53 million, or 25 cents per share, compared to $16.25 million, or 29 cents per share, a year earlier.', 'Excluding one-time items, E.l.f.', 'posted earnings of 53 cents per share.', 'Sales rose to $321.1 million, up about 71% from $187.4 million a year earlier.', ""For the full year, the company's sales grew to $1.02 billion, an increase of 77% from the year-ago period."", 'E.l.f.', 'Beauty has been on a tear over the past year, posting sales gains in the high double-digit percentages quarter after quarter as consumers flock to its low-priced beauty products either through its own website or at retailers such as Walmart and Target.', 'In a statement, E.l.f.', 'CEO Tarang Amin said he believes the company is still in the ""early innings"" of its growth story and expects more to come in cosmetics, skin care and in international markets.', 'Its guidance reflects that sentiment, but even so, the company expects to grow at a slower pace than Wall Street anticipated.', 'E.l.f.', 'expects net sales to be between $1.23 billion and $1.25 billion, which would be an increase of 20% to 22%.', 'That is below the $1.27 billion, or 27.4% uptick, that analysts had expected.', 'The company is forecasting adjusted net income to be between $187 million and $191 million, and adjusted earnings to be between $3.20 and $3.25 per share.', 'That is below the $3.51 that analysts had expected, according to LSEG.Last month, Ulta Beauty CEO Dave Kimbell threw cold water on the red-hot beauty category when he warned that demand for cosmetics was cooling, sending its stock down 15% that day and hitting shares of E.l.f, Estée Lauder and Coty.', '""We have seen a slowdown in the total category,"" Kimbell said at an investor conference hosted by JPMorgan Chase. ""', 'We came into the year — and we talked about this on our [earnings] call a few weeks ago — expecting the category to moderate.', 'It has [had], as I said, several years of strong growth.', ""We did not anticipate it would continue at the rate that it's been growing."", '""He added that the slowdown has been ""a bit earlier"" and a ""bit bigger than we thought.', '""Just how much Ulta\'s sales have slowed remains to be seen, but the beauty giant has seen strong sales of E.l.f.', 'products.', 'During a call with analysts, Amin said that it grew its business with Ulta by 80% in fiscal 2024 — ""well above where the overall growth rates were.', '""Read E.l.f.', ""'s full earnings release here.""]",0.2522435666175583,"""Just how much Ulta's sales have slowed remains to be seen, but the beauty giant has seen strong sales of E.l.f.","The company is forecasting adjusted net income to be between $187 million and $191 million, and adjusted earnings to be between $3.20 and $3.25 per share.",0.4884794184139797,"Sales rose to $321.1 million, up about 71% from $187.4 million a year earlier.","That is below the $3.51 that analysts had expected, according to LSEG.Last month, Ulta Beauty CEO Dave Kimbell threw cold water on the red-hot beauty category when he warned that demand for cosmetics was cooling, sending its stock down 15% that day and hitting shares of E.l.f, Estée Lauder and Coty.",2024-05-23
+Warner Bros. Discovery and ESPN strike 5-year deal for College Football Playoff games,https://www.cnbc.com/2024/05/22/warner-bros-discovery-espn-college-football-playoff-deal.html,2024-05-22T21:46:01+0000,"In this articleIn a move to strengthen its sports offerings, Warner Bros. Discovery has signed a five-year sublicensing deal with Disney's ESPN to broadcast first-round and quarterfinal College Football Playoff games.Warner Bros. Discovery's TNT will carry two first-round games this year and next year and will add two additional quarterfinals games starting in 2026. Disney also has an option to sublicense a semifinals game to Warner Bros. Discovery starting with the third year of the deal if it chooses, according to people familiar with the matter.Disney will keep exclusivity on the championship game throughout the terms of the contract, which runs through 2031, said the people, who asked not to be named because the details are private. Disney is paying about $1.3 billion per year for rights to the entire College Football Playoff.The new 12-team College Football Playoff slate debuts in December, replacing a four-team tournament that began in 2014. Under the new format, the top four teams get byes while teams seeded No. 5 through No. 12 play first-round games at the home stadium of the higher-ranked team.ESPN will produce the games and primarily use ESPN talent for the broadcasts, which will be TNT branded, said the people familiar. As part of the sublicensing agreement, Warner Bros. Discovery is paying ESPN an average of ""hundreds of millions"" per year for the games over the course of five years, though less in years one and two when it only has two games per year, said the people.Warner Bros. Discovery has the exclusive rights to sublicense the games for the length of the deal.""It is exciting to add TNT Sports, another highly respected broadcaster, to the College Football Playoff family,"" Bill Hancock, executive director of the College Football Playoff, said in a statement. ""Sports fans across the country are intimately familiar with their work across a wide variety of sports properties over the past two decades, and we look forward to seeing what new and innovative ideas they bring to the promotion and delivery of these games.""This year's first round of the CFP will take place on Dec. 20 and 21.Warner Bros. Discovery plans to add the games to its Max sports tier. The company is bulking up on live sports while in the middle of a difficult negotiation with the National Basketball Association for a package of live games.TNT has been a partner to the NBA for nearly 40 years but risks losing the games to Comcast-owned NBCUniversal and Amazon if Warner Bros. Discovery decides to forgo its matching rights, or, potentially, if the league opts to ignore those rights.College football is some of the most popular programming on television. Michigan's semifinals victory over Alabama last year drew an average audience of 27.2 million viewers — the most watched non-NFL sporting event since 2018.Even if Warner Bros. Discovery loses the NBA, it will now have both CFP and the NBA until mid-2025, in addition to several weeks of games for the NCAA men's basketball March Madness tournament, men's and women's soccer, NASCAR, Major League Baseball and the National Hockey League. That should help the company in its upcoming carriage renewal deals for TNT and its other cable networks.ESPN sublicensing to Warner Bros. Discovery also keeps all of the CFP games on Venu Sports, the new sports streaming service that's being developed by Disney, Fox and Warner Bros. Discovery and is expected to launch in the fall.Disclosure: Comcast owns CNBC's parent company, NBCUniversal.WATCH: The root problem facing streamers is the lack of daily usage, says LightShed's Rich Greenfield",CNBC,22/05/2024,"[""In this articleIn a move to strengthen its sports offerings, Warner Bros. Discovery has signed a five-year sublicensing deal with Disney's ESPN to broadcast first-round and quarterfinal College Football Playoff games."", ""Warner Bros. Discovery's TNT will carry two first-round games this year and next year and will add two additional quarterfinals games starting in 2026."", 'Disney also has an option to sublicense a semifinals game to Warner Bros. Discovery starting with the third year of the deal if it chooses, according to people familiar with the matter.', 'Disney will keep exclusivity on the championship game throughout the terms of the contract, which runs through 2031, said the people, who asked not to be named because the details are private.', 'Disney is paying about $1.3 billion per year for rights to the entire College Football Playoff.', 'The new 12-team College Football Playoff slate debuts in December, replacing a four-team tournament that began in 2014.', 'Under the new format, the top four teams get byes while teams seeded No.', '5 through No.', '12 play first-round games at the home stadium of the higher-ranked team.', 'ESPN will produce the games and primarily use ESPN talent for the broadcasts, which will be TNT branded, said the people familiar.', 'As part of the sublicensing agreement, Warner Bros. Discovery is paying ESPN an average of ""hundreds of millions"" per year for the games over the course of five years, though less in years one and two when it only has two games per year, said the people.', 'Warner Bros. Discovery has the exclusive rights to sublicense the games for the length of the deal.', '""It is exciting to add TNT Sports, another highly respected broadcaster, to the College Football Playoff family,"" Bill Hancock, executive director of the College Football Playoff, said in a statement. ""', 'Sports fans across the country are intimately familiar with their work across a wide variety of sports properties over the past two decades, and we look forward to seeing what new and innovative ideas they bring to the promotion and delivery of these games.', '""This year\'s first round of the CFP will take place on Dec. 20 and 21.Warner Bros. Discovery plans to add the games to its Max sports tier.', 'The company is bulking up on live sports while in the middle of a difficult negotiation with the National Basketball Association for a package of live games.', 'TNT has been a partner to the NBA for nearly 40 years but risks losing the games to Comcast-owned NBCUniversal and Amazon if Warner Bros. Discovery decides to forgo its matching rights, or, potentially, if the league opts to ignore those rights.', 'College football is some of the most popular programming on television.', ""Michigan's semifinals victory over Alabama last year drew an average audience of 27.2 million viewers — the most watched non-NFL sporting event since 2018.Even if Warner Bros. Discovery loses the NBA, it will now have both CFP and the NBA until mid-2025, in addition to several weeks of games for the NCAA men's basketball March Madness tournament, men's and women's soccer, NASCAR, Major League Baseball and the National Hockey League."", 'That should help the company in its upcoming carriage renewal deals for TNT and its other cable networks.', ""ESPN sublicensing to Warner Bros. Discovery also keeps all of the CFP games on Venu Sports, the new sports streaming service that's being developed by Disney, Fox and Warner Bros. Discovery and is expected to launch in the fall."", ""Disclosure: Comcast owns CNBC's parent company, NBCUniversal."", ""WATCH: The root problem facing streamers is the lack of daily usage, says LightShed's Rich Greenfield""]",0.0846016602445628,"""It is exciting to add TNT Sports, another highly respected broadcaster, to the College Football Playoff family,"" Bill Hancock, executive director of the College Football Playoff, said in a statement. ""","TNT has been a partner to the NBA for nearly 40 years but risks losing the games to Comcast-owned NBCUniversal and Amazon if Warner Bros. Discovery decides to forgo its matching rights, or, potentially, if the league opts to ignore those rights.",0.1424879431724548,"In this articleIn a move to strengthen its sports offerings, Warner Bros. Discovery has signed a five-year sublicensing deal with Disney's ESPN to broadcast first-round and quarterfinal College Football Playoff games.","TNT has been a partner to the NBA for nearly 40 years but risks losing the games to Comcast-owned NBCUniversal and Amazon if Warner Bros. Discovery decides to forgo its matching rights, or, potentially, if the league opts to ignore those rights.",2024-05-23
+"Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy",https://www.cnbc.com/2024/05/22/synapse-bankruptcy-customer-funds.html,2024-05-23T17:18:03+0000,"A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents.Since last year, Synapse, an Andreessen Horowitz-backed startup that serves as a middle man between customer-facing fintech brands and FDIC-backed banks, has had disagreements with several of its partners about how much in customer balances it owed.The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. On May 11, Synapse cut off access to a technology system that enabled lenders, including Evolve Bank & Trust, to process transactions and account information, according to the filings.That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court.One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy.""I am increasingly desperate and don't know where to turn,"" Buckler wrote. ""I have nearly $38,000 tied up as a result of the halting of transaction processing. This money took years to save up.""Until recently, Synapse, which calls itself the biggest ""banking as a service"" provider, helped a wide swath of the U.S. fintech universe provide services such as checking accounts and debit cards. Former partners included Mercury, Dave and Juno, well-known fintech firms that catered to segments including startups, gig workers and crypto users.Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak.Pathak did not immediately respond to an email from CNBC seeking comment. A spokesman for Evolve Bank & Trust declined to comment, instead pointing to a statement on the bank's website that read, in part: ""Synapse's abrupt shutdown of essential systems without notice and failure to provide necessary records needlessly jeopardized end users by hindering our ability to verify transactions, confirm end user balances, and comply with applicable law.""It is unclear why Synapse switched the system off, and an explanation could not be found in filings.Another customer, Joseph Dominguez of Sacramento, California, told the bankruptcy court on May 20 that he had more than $20,000 held up in his Yotta fintech account.""We are scared that money will be lost if Synapse can not provide ledgers and documents to Evolve or Yotta to prove we are the legitimate owners,"" Dominguez wrote. ""We don't know where our direct deposit has gone, we don't know where our pending withdrawals are currently held.""The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.The BAAS model, used most notably by the pre-IPO fintech firm Chime, allows Silicon Valley-style startups to tap the abilities of small FDIC-backed banks. Together, the ecosystem helped these companies compete against the giants of American banking.Customers mistakenly believed that because funds are ultimately held at real banks, they were as safe and available as any other FDIC-insured accounts, said Jason Mikula, a consultant and newsletter writer who has tracked this case closely.""This is 10 million-plus people who can't pay their mortgages, can't buy their groceries. … This is another order of disaster,"" Mikula said.Regulators have yet to take a role in the dispute, partly because the underlying banks involved have not failed, the point at which the FDIC would usually intervene to make customers whole, Mikula added. The agencies have generally put the onus on banks for managing their risks to fintech partners, he said.The FDIC and Federal Reserve declined to comment.In pleading with the judge in this case, Martin Barash, to help the affected customers, Buckler noted in his testimonial that while he had other resources besides the locked account, others are not as lucky.""So far the federal government is not willing to help us,"" Buckler wrote. ""As you heard, there are millions affected who are in far worse straits.""Reached by phone on Wednesday, Buckler said he had one message for Americans: ""I want to make people aware, yeah, your money might be safe at the bank, but it is not safe if the fintech or the processor fails,"" he said. ""If this is another FTX, if they were doing funny business with my money, then what?""",CNBC,23/05/2024,"['A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents.', 'Since last year, Synapse, an Andreessen Horowitz-backed startup that serves as a middle man between customer-facing fintech brands and FDIC-backed banks, has had disagreements with several of its partners about how much in customer balances it owed.', 'The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners.', 'On May 11, Synapse cut off access to a technology system that enabled lenders, including Evolve Bank & Trust, to process transactions and account information, according to the filings.', 'That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court.', 'One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy.', '""I am increasingly desperate and don\'t know where to turn,"" Buckler wrote. ""', 'I have nearly $38,000 tied up as a result of the halting of transaction processing.', 'This money took years to save up.', '""Until recently, Synapse, which calls itself the biggest ""banking as a service"" provider, helped a wide swath of the U.S. fintech universe provide services such as checking accounts and debit cards.', 'Former partners included Mercury, Dave and Juno, well-known fintech firms that catered to segments including startups, gig workers and crypto users.', 'Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak.', 'Pathak did not immediately respond to an email from CNBC seeking comment.', 'A spokesman for Evolve Bank & Trust declined to comment, instead pointing to a statement on the bank\'s website that read, in part: ""Synapse\'s abrupt shutdown of essential systems without notice and failure to provide necessary records needlessly jeopardized end users by hindering our ability to verify transactions, confirm end user balances, and comply with applicable law.', '""It is unclear why Synapse switched the system off, and an explanation could not be found in filings.', 'Another customer, Joseph Dominguez of Sacramento, California, told the bankruptcy court on May 20 that he had more than $20,000 held up in his Yotta fintech account.', '""We are scared that money will be lost if Synapse can not provide ledgers and documents to Evolve or Yotta to prove we are the legitimate owners,"" Dominguez wrote. ""', ""We don't know where our direct deposit has gone, we don't know where our pending withdrawals are currently held."", '""The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.', 'The BAAS model, used most notably by the pre-IPO fintech firm Chime, allows Silicon Valley-style startups to tap the abilities of small FDIC-backed banks.', 'Together, the ecosystem helped these companies compete against the giants of American banking.', 'Customers mistakenly believed that because funds are ultimately held at real banks, they were as safe and available as any other FDIC-insured accounts, said Jason Mikula, a consultant and newsletter writer who has tracked this case closely.', '""This is 10 million-plus people who can\'t pay their mortgages, can\'t buy their groceries. …', 'This is another order of disaster,"" Mikula said.', 'Regulators have yet to take a role in the dispute, partly because the underlying banks involved have not failed, the point at which the FDIC would usually intervene to make customers whole, Mikula added.', 'The agencies have generally put the onus on banks for managing their risks to fintech partners, he said.', 'The FDIC and Federal Reserve declined to comment.', 'In pleading with the judge in this case, Martin Barash, to help the affected customers, Buckler noted in his testimonial that while he had other resources besides the locked account, others are not as lucky.', '""So far the federal government is not willing to help us,"" Buckler wrote. ""', 'As you heard, there are millions affected who are in far worse straits.', '""Reached by phone on Wednesday, Buckler said he had one message for Americans: ""I want to make people aware, yeah, your money might be safe at the bank, but it is not safe if the fintech or the processor fails,"" he said. ""', 'If this is another FTX, if they were doing funny business with my money, then what?""']",-0.0819259721267285,"A spokesman for Evolve Bank & Trust declined to comment, instead pointing to a statement on the bank's website that read, in part: ""Synapse's abrupt shutdown of essential systems without notice and failure to provide necessary records needlessly jeopardized end users by hindering our ability to verify transactions, confirm end user balances, and comply with applicable law.","""We are scared that money will be lost if Synapse can not provide ledgers and documents to Evolve or Yotta to prove we are the legitimate owners,"" Dominguez wrote. """,-0.7858791351318359,This money took years to save up.,The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners.,2024-05-23
+"Warner Bros. Discovery's NBA rights offer could put it in competition with Amazon, not NBC",https://www.cnbc.com/2024/05/23/warner-bros-discovery-considers-matching-nba-package-slated-for-amazon.html,2024-05-23T17:52:31+0000,"In this articleWarner Bros. Discovery is considering matching an offer for the media rights to a package of National Basketball Association games as the league looks to finalize terms — but its focus could be on a potential Amazon package rather than games slated for Comcast's NBCUniversal, according to people familiar with the matter.It's the latest turn in what's been a relatively messy renegotiation for Warner Bros. Discovery, one of two incumbent holders of NBA rights, along with Disney. Warner's Turner Sports has carried NBA games for nearly 40 years.Warner Bros. Discovery continues to consider ways to partner with the NBA to broadcast a package of games as the league plans its next media partners, said the people, who asked not to be named because the discussions are private.The league is close to signing agreements with Disney, NBCUniversal and Amazon for three different packages of games, the people said. If that happens without a side agreement with Warner Bros. Discovery, its CEO, David Zaslav, will have a chance to leverage matching rights that were secured — and paid for — as part of its previous deal with the league.Under the terms of that agreement, which runs out after the 2024-25 season, Warner Bros. Discovery can match a competing bid for the games it currently licenses from the NBA. Warner Bros. Discovery hasn't yet seen the three potential packages, because the league hasn't officially signed agreements with any of its potential media partners. It also hasn't communicated any plans on matching or not matching with the league, the people said.Still, the company has been working with its lawyers to determine how matching would work if the league carves up Warner Bros. Discovery's current package into deals for both NBCUniversal and Amazon.Amazon has reportedly offered $1.8 billion a year for a slate of games, while NBCUniversal has offered about $2.5 billion per year, according to people familiar with the matter. The league has set up frameworks for both deals but hasn't yet signed paperwork formalizing the bids. When it does, Warner Bros. Discovery will have five days to match, according to a person familiar with the language of the contracts.It's possible Warner Bros. Discovery chooses not to match any of the packages, or it may push to strike a side deal with the league for either a settlement or a smaller, fourth package of games. It's unclear whether the NBA would be amenable to either of those solutions.Spokespeople for the NBA, Warner Bros. Discovery and NBCUniversal declined to comment. Representatives from Amazon didn't immediately respond to a request for comment.If the current slate of NBA games aired on TNT is split into two or more packages, Warner Bros. Discovery believes it has the right to match any of those offerings, or at least the parts of them that include the current TNT games, according to people familiar with the company's thinking.""We've had a lot of time to prepare for this negotiation, and we have strategies in place for the various potential outcomes,"" Zaslav said earlier this month during Warner Bros. Discovery's quarterly earnings conference call. ""We have matching rights that allow us to match third-party offers before the NBA enters into an agreement with them.""That could gum up an NBA deal with either NBCUniversal or Amazon or potentially lead to a lawsuit between Warner Bros. Discovery and the league. It's unclear if the league can reject Warner Bros. Discovery's matching rights if it chooses a different partner.Warner Bros. Discovery is interested in a more affordable package of games given its gross debt of about $42 billion — more than double its current market capitalization of about $20 billion — making the package that's likely earmarked for Amazon appealing. That package tentatively includes All-Star games and conference finals games, which have aired on TNT, according to a person familiar with the matter.The NBA wants a robust streaming offering as a third package to extend the reach of its product beyond cable TV. Warner Bros. Discovery owns both cable network TNT and its flagship streaming service, Max, which is expanding internationally. The company announced Wednesday it had struck a deal with ESPN to sublicense College Football Playoff games for five years — with the games to be aired on TNT and streamed on Max.Still, unlike Amazon's Prime Video streaming service, Max plans to tier its sports offerings to customers, forcing them to pay more and potentially diminishing reach, which the NBA may not prefer.It's possible Zaslav's focus on Amazon may be a strategic move to get a settlement from the league by focusing on a package specifically designed for a big tech streamer.The College Football Playoffs deal and the company's recent rights agreement for a package of NASCAR races beginning in 2025 has put Zaslav in a place where he's content to lose the NBA if Warner Bros. Discovery management decides the cost is too much, according to people familiar with the matter.Zaslav has told colleagues he believes NBCUniversal is overspending for the NBA, based on his company's research into ratings and potential subscriber value for a subscription streaming service, according to a person familiar with the matter.An offer of $2.5 billion or more would more than double the NBA's previous asking price of $1.2 billion, and the new package would contain fewer games because of the introduction of a third media partner.Warner Bros. Discovery could use the money saved from not spending on the NBA for other sports, including UFC, which will likely sign a new rights deal next year.Zaslav views NBCUniversal as a direct competitor in a fight for survival among legacy media companies, according to people familiar with his thinking. If NBCUniversal ends up paying too much for the NBA, he views that as a competitive advantage for Warner Bros. Discovery, they said.If Warner Bros. Discovery chooses to match a potential Amazon package or stand down completely, it would clear the way for the NBA to get back in business with NBCUniversal, which lost league rights in 2002.A member of NBCUniversal's music licensing team recently reached out to John Tesh, the owner of ""Roundball Rock,"" the old ""NBA on NBC"" theme song, and mentioned potential interest in bringing the jingle back to NBC if the company gets the media rights, according to a person familiar with the matter.Like Disney, which owns ABC, NBCUniversal has a broadcast network in NBC that is free over-the-air and can expand ratings for games. Neither Amazon nor Warner Bros. Discovery owns a broadcast network.NBCUniversal also owns Peacock, its domestic-only streaming service, which could also become a platform for NBA games.Disclosure: NBCUniversal is the parent company of CNBC.",CNBC,23/05/2024,"[""In this articleWarner Bros. Discovery is considering matching an offer for the media rights to a package of National Basketball Association games as the league looks to finalize terms — but its focus could be on a potential Amazon package rather than games slated for Comcast's NBCUniversal, according to people familiar with the matter."", ""It's the latest turn in what's been a relatively messy renegotiation for Warner Bros. Discovery, one of two incumbent holders of NBA rights, along with Disney."", ""Warner's Turner Sports has carried NBA games for nearly 40 years."", 'Warner Bros. Discovery continues to consider ways to partner with the NBA to broadcast a package of games as the league plans its next media partners, said the people, who asked not to be named because the discussions are private.', 'The league is close to signing agreements with Disney, NBCUniversal and Amazon for three different packages of games, the people said.', 'If that happens without a side agreement with Warner Bros. Discovery, its CEO, David Zaslav, will have a chance to leverage matching rights that were secured — and paid for — as part of its previous deal with the league.', 'Under the terms of that agreement, which runs out after the 2024-25 season, Warner Bros. Discovery can match a competing bid for the games it currently licenses from the NBA.', ""Warner Bros. Discovery hasn't yet seen the three potential packages, because the league hasn't officially signed agreements with any of its potential media partners."", ""It also hasn't communicated any plans on matching or not matching with the league, the people said."", ""Still, the company has been working with its lawyers to determine how matching would work if the league carves up Warner Bros. Discovery's current package into deals for both NBCUniversal and Amazon."", 'Amazon has reportedly offered $1.8 billion a year for a slate of games, while NBCUniversal has offered about $2.5 billion per year, according to people familiar with the matter.', ""The league has set up frameworks for both deals but hasn't yet signed paperwork formalizing the bids."", 'When it does, Warner Bros. Discovery will have five days to match, according to a person familiar with the language of the contracts.', ""It's possible Warner Bros. Discovery chooses not to match any of the packages, or it may push to strike a side deal with the league for either a settlement or a smaller, fourth package of games."", ""It's unclear whether the NBA would be amenable to either of those solutions."", 'Spokespeople for the NBA, Warner Bros. Discovery and NBCUniversal declined to comment.', ""Representatives from Amazon didn't immediately respond to a request for comment."", ""If the current slate of NBA games aired on TNT is split into two or more packages, Warner Bros. Discovery believes it has the right to match any of those offerings, or at least the parts of them that include the current TNT games, according to people familiar with the company's thinking."", '""We\'ve had a lot of time to prepare for this negotiation, and we have strategies in place for the various potential outcomes,"" Zaslav said earlier this month during Warner Bros. Discovery\'s quarterly earnings conference call. ""', 'We have matching rights that allow us to match third-party offers before the NBA enters into an agreement with them.', '""That could gum up an NBA deal with either NBCUniversal or Amazon or potentially lead to a lawsuit between Warner Bros. Discovery and the league.', ""It's unclear if the league can reject Warner Bros. Discovery's matching rights if it chooses a different partner."", ""Warner Bros. Discovery is interested in a more affordable package of games given its gross debt of about $42 billion — more than double its current market capitalization of about $20 billion — making the package that's likely earmarked for Amazon appealing."", 'That package tentatively includes All-Star games and conference finals games, which have aired on TNT, according to a person familiar with the matter.', 'The NBA wants a robust streaming offering as a third package to extend the reach of its product beyond cable TV.', 'Warner Bros. Discovery owns both cable network TNT and its flagship streaming service, Max, which is expanding internationally.', 'The company announced Wednesday it had struck a deal with ESPN to sublicense College Football Playoff games for five years — with the games to be aired on TNT and streamed on Max.', ""Still, unlike Amazon's Prime Video streaming service, Max plans to tier its sports offerings to customers, forcing them to pay more and potentially diminishing reach, which the NBA may not prefer."", ""It's possible Zaslav's focus on Amazon may be a strategic move to get a settlement from the league by focusing on a package specifically designed for a big tech streamer."", ""The College Football Playoffs deal and the company's recent rights agreement for a package of NASCAR races beginning in 2025 has put Zaslav in a place where he's content to lose the NBA if Warner Bros. Discovery management decides the cost is too much, according to people familiar with the matter."", ""Zaslav has told colleagues he believes NBCUniversal is overspending for the NBA, based on his company's research into ratings and potential subscriber value for a subscription streaming service, according to a person familiar with the matter."", ""An offer of $2.5 billion or more would more than double the NBA's previous asking price of $1.2 billion, and the new package would contain fewer games because of the introduction of a third media partner."", 'Warner Bros. Discovery could use the money saved from not spending on the NBA for other sports, including UFC, which will likely sign a new rights deal next year.', 'Zaslav views NBCUniversal as a direct competitor in a fight for survival among legacy media companies, according to people familiar with his thinking.', 'If NBCUniversal ends up paying too much for the NBA, he views that as a competitive advantage for Warner Bros. Discovery, they said.', 'If Warner Bros. Discovery chooses to match a potential Amazon package or stand down completely, it would clear the way for the NBA to get back in business with NBCUniversal, which lost league rights in 2002.A member of NBCUniversal\'s music licensing team recently reached out to John Tesh, the owner of ""Roundball Rock,"" the old ""NBA on NBC"" theme song, and mentioned potential interest in bringing the jingle back to NBC if the company gets the media rights, according to a person familiar with the matter.', 'Like Disney, which owns ABC, NBCUniversal has a broadcast network in NBC that is free over-the-air and can expand ratings for games.', 'Neither Amazon nor Warner Bros. Discovery owns a broadcast network.', 'NBCUniversal also owns Peacock, its domestic-only streaming service, which could also become a platform for NBA games.', 'Disclosure: NBCUniversal is the parent company of CNBC.']",0.1136224515371988,"Like Disney, which owns ABC, NBCUniversal has a broadcast network in NBC that is free over-the-air and can expand ratings for games.",It's unclear if the league can reject Warner Bros. Discovery's matching rights if it chooses a different partner.,0.4549682140350342,Warner Bros. Discovery is interested in a more affordable package of games given its gross debt of about $42 billion — more than double its current market capitalization of about $20 billion — making the package that's likely earmarked for Amazon appealing.,"Zaslav has told colleagues he believes NBCUniversal is overspending for the NBA, based on his company's research into ratings and potential subscriber value for a subscription streaming service, according to a person familiar with the matter.",2024-05-23
+"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.,2024-05-23
+"CFPB says buy now, pay later firms must comply with U.S. credit card laws",https://www.cnbc.com/2024/05/22/cfpb-buy-now-pay-later-credit-card-laws.html,2024-05-22T20:39:22+0000,"In this articleThe Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards.The agency unveiled what it called an ""interpretive rule"" that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act.That means the industry — currently dominated by fintech firms like Affirm, Klarna and PayPal — must make refunds for returned products or canceled services, must investigate merchant disputes and pause payments during those probes, and must provide bills with fee disclosures.""Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under long-standing laws and regulations already on the books,"" CFPB Director Rohit Chopra said in a release.The CFPB, which last week was handed a crucial victory by the Supreme Court, has pushed hard against the U.S. financial industry, issuing rules that slashed credit card late fees and overdraft penalties. The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing. Among CFPB concerns are that some users are given more debt than they can handle, he said.""Buy now, pay later is now a major part of our consumer credit market as these loans provide a meaningful alternative to other options for consumers,"" Chopra told reporters. ""The CFPB wants to make sure that these new competitive offerings are not gaining an advantage by sidestepping longstanding rights and responsibilities enshrined under the law.""It's unclear how many BNPL providers don't comply with refund and dispute requirements; on the website for Affirm, for instance, there are pages for both activities.While the CFPB acknowledged that many BNPL players offer those services, the new rule will ensure that they are applied consistently across the industry, a senior agency official told reporters.The new rule will go into effect in 60 days, and the agency is now accepting public commentary on it, the official said.Shares of Affirm were off 5.2% Wednesday, while PayPal slipped 3%.For some time, BNPL providers have anticipated greater regulation, including efforts to apply existing card rules onto the industry. In March, Klarna published a post arguing that its no-interest product was less risky for customers than credit cards — which can often come with steep interest rates — thus requiring less oversight.""Instead of trying to jam BNPL into an outdated credit card framework that does little to actually protect consumers, leaders in Washington should draft and implement a framework for BNPL that is proportionate to the risk it poses,"" Klarna said at the time.In a statement provided Wednesday, Klarna called the CFPB move a ""significant step forward"" in BNPL regulation, adding that it already adhered to standards for refunds, disputes and billing information.""But it is baffling that the CFPB has overlooked the fundamental differences between interest-free BNPL and credit cards, whose whole business model is based on trapping customers into a cycle of paying sky-high interest rates month after month,"" said a Klarna spokesperson.An Affirm spokesman said the company was ""encouraged"" that the CFPB was promoting industry standards, ""many of which already reflect how Affirm operates,"" and that it was engaged with the regulator on improving how it operates.""Affirm's success is aligned with responsibly extending access to credit as we do not charge late or hidden fees,"" the spokesman said. ""We urge other companies that offer buy now, pay later products to live up to the industry's promise to provide consumers with a more flexible and transparent alternative to other payment options.""The industry's stance raises the possibility that, like other financial players including payday lenders, BNPL companies could push back against the CFPB rule by suing the agency.The CFPB rule capping credit card late fees at $8 per incident, which was set to go into effect this month, was challenged and paused by a federal judge recently.",CNBC,22/05/2024,"['In this articleThe Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards.', 'The agency unveiled what it called an ""interpretive rule"" that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act.', 'That means the industry — currently dominated by fintech firms like Affirm, Klarna and PayPal — must make refunds for returned products or canceled services, must investigate merchant disputes and pause payments during those probes, and must provide bills with fee disclosures.', '""Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under long-standing laws and regulations already on the books,"" CFPB Director Rohit Chopra said in a release.', 'The CFPB, which last week was handed a crucial victory by the Supreme Court, has pushed hard against the U.S. financial industry, issuing rules that slashed credit card late fees and overdraft penalties.', 'The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing.', 'Among CFPB concerns are that some users are given more debt than they can handle, he said.', '""Buy now, pay later is now a major part of our consumer credit market as these loans provide a meaningful alternative to other options for consumers,"" Chopra told reporters. ""', 'The CFPB wants to make sure that these new competitive offerings are not gaining an advantage by sidestepping longstanding rights and responsibilities enshrined under the law.', '""It\'s unclear how many BNPL providers don\'t comply with refund and dispute requirements; on the website for Affirm, for instance, there are pages for both activities.', 'While the CFPB acknowledged that many BNPL players offer those services, the new rule will ensure that they are applied consistently across the industry, a senior agency official told reporters.', 'The new rule will go into effect in 60 days, and the agency is now accepting public commentary on it, the official said.', 'Shares of Affirm were off 5.2% Wednesday, while PayPal slipped 3%.For some time, BNPL providers have anticipated greater regulation, including efforts to apply existing card rules onto the industry.', 'In March, Klarna published a post arguing that its no-interest product was less risky for customers than credit cards — which can often come with steep interest rates — thus requiring less oversight.', '""Instead of trying to jam BNPL into an outdated credit card framework that does little to actually protect consumers, leaders in Washington should draft and implement a framework for BNPL that is proportionate to the risk it poses,"" Klarna said at the time.', 'In a statement provided Wednesday, Klarna called the CFPB move a ""significant step forward"" in BNPL regulation, adding that it already adhered to standards for refunds, disputes and billing information.', '""But it is baffling that the CFPB has overlooked the fundamental differences between interest-free BNPL and credit cards, whose whole business model is based on trapping customers into a cycle of paying sky-high interest rates month after month,"" said a Klarna spokesperson.', 'An Affirm spokesman said the company was ""encouraged"" that the CFPB was promoting industry standards, ""many of which already reflect how Affirm operates,"" and that it was engaged with the regulator on improving how it operates.', '""Affirm\'s success is aligned with responsibly extending access to credit as we do not charge late or hidden fees,"" the spokesman said. ""', ""We urge other companies that offer buy now, pay later products to live up to the industry's promise to provide consumers with a more flexible and transparent alternative to other payment options."", '""The industry\'s stance raises the possibility that, like other financial players including payday lenders, BNPL companies could push back against the CFPB rule by suing the agency.', 'The CFPB rule capping credit card late fees at $8 per incident, which was set to go into effect this month, was challenged and paused by a federal judge recently.']",0.3036623994723746,"""But it is baffling that the CFPB has overlooked the fundamental differences between interest-free BNPL and credit cards, whose whole business model is based on trapping customers into a cycle of paying sky-high interest rates month after month,"" said a Klarna spokesperson.","The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing.",0.3937838352643527,"The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing.","Shares of Affirm were off 5.2% Wednesday, while PayPal slipped 3%.For some time, BNPL providers have anticipated greater regulation, including efforts to apply existing card rules onto the industry.",2024-05-23
+Red Lobster files for bankruptcy,https://edition.cnn.com/2024/05/20/investing/red-lobster-restaurants-bankruptcy/index.html,"
+  Updated
+        2:59 PM EDT, Mon May 20, 2024
+    ","Red Lobster, which brought affordable shrimp and lobster to middle-class America and grew to become the largest seafood restaurant chain in the world, has filed for bankruptcy.
+    
+            The company said it had more than $1 billion in debt and less than $30 million in cash on hand. It plans to sell its business to its lenders, and in turn, it will receive financing to stay afloat. It expects to continue to close restaurants in the meantime.
+    
+            Red Lobster, known for its cheddar bay biscuits, crab legs and shrimp dishes, spread around the country during the 1980s and 1990s. In 2016, Beyoncé mentioned Red Lobster in her song “Formation,” describing bringing a romantic partner to Red Lobster, causing sales to surge.
+    
+            With 578 restaurants across 44 states and Canada, Red Lobster serves 64 million customers a year, and it brings in $2 billion in annual sales, the company said in its bankruptcy filing. One in five lobster tails purchased in North America is bought by Red Lobster.
+    
+            But recent mismanagement, competition, inflation and other factors brought down Red Lobster, analysts and former Red Lobster employees say.
+    
+            Years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to compete with growing fast-casual and quick-service chains.
+    
+            Red Lobster started in 1968 by Bill Darden, an architect of the casual dining revolution in America, and General Mills soon bought the restaurant. Red Lobster later became part of Darden Restaurants, the owner of Olive Garden and other chains.
+    
+            In 2014, Darden sold off Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. Since 2020, seafood distributor Thai Union Group, based in Thailand, has been the largest Red Lobster shareholder. Thai Union owns 49% of the company.
+    
+            But Red Lobster has struggled under Thai Union.
+    
+            The number of customers coming to Red Lobster tumbled 30% since 2019 and has only slightly improved since the pandemic. Earlier this year, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment.
+    
+            Former Red Lobster employees say Thai Union’s cost-cutting efforts and strategy mistakes hurt the chain.
+    
+            “Thai Union forced huge cost reductions, including many that were penny wise and pound foolish because they hurt sales,” a former Red Lobster executive who spoke under the condition of anonymity because of a non-disclosure agreement with the company told CNN earlier this month. Thai Union did not respond to requests for comment on that article.
+    
+            Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn. Red Lobster has had five CEOs since 2021. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer. All were gone within two years.
+    
+            Last summer, under Thai Union, Red Lobster turned $20 endless shrimp into a permanent item on the menu for the first time, instead of its traditional limited-time offer deal. The change cost the company $11 million and cut into Thai Union profit. In its bankruptcy filing, Red Lobster said it is investigating the circumstances of that promotion, which the company’s management opposed.
+    
+            “We need to be much more careful,” Thai Union CFO Ludovic Garnier said on an earnings call in November 2023.
+    
+            But the company in its bankruptcy filing blamed Thai Union for the losses. Noting that under the guise of a “quality review,” Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal. That led to higher costs for the restaurant chain, and did not comply with the company’s typical decision-making process for picking suppliers based on projected demand.
+    
+            The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.
+    
+            Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.
+    
+            In its bankruptcy filing, Red Lobster conceded it had “a bloated and underperforming restaurant footprint” and cited a difficult economic environment and increased competition for its recent financial failures.
+    
+            Red Lobster has been telegraphing its bankruptcy for months.
+    
+            In January, the company hired Jonathan Tibus, a restructuring veteran, to assess its business. It named Tibus as CEO in March. Last week, the company began shutting down 93 restaurants in preparation for its bankruptcy.
+    
+            As it ran out of cash, the company stopped paying its vendors last year.
+    
+            The company plans to stay afloat with a $100 million financing agreement, it said in its bankruptcy petition.
+    
+            This story has been updated with additional developments and context.",CNN,20/05/2024,"['Red Lobster, which brought affordable shrimp and lobster to middle-class America and grew to become the largest seafood restaurant chain in the world, has filed for bankruptcy.', 'The company said it had more than $1 billion in debt and less than $30 million in cash on hand.', 'It plans to sell its business to its lenders, and in turn, it will receive financing to stay afloat.', 'It expects to continue to close restaurants in the meantime.', 'Red Lobster, known for its cheddar bay biscuits, crab legs and shrimp dishes, spread around the country during the 1980s and 1990s.', 'In 2016, Beyoncé mentioned Red Lobster in her song “Formation,” describing bringing a romantic partner to Red Lobster, causing sales to surge.', 'With 578 restaurants across 44 states and Canada, Red Lobster serves 64 million customers a year, and it brings in $2 billion in annual sales, the company said in its bankruptcy filing.', 'One in five lobster tails purchased in North America is bought by Red Lobster.', 'But recent mismanagement, competition, inflation and other factors brought down Red Lobster, analysts and former Red Lobster employees say.', 'Years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to compete with growing fast-casual and quick-service chains.', 'Red Lobster started in 1968 by Bill Darden, an architect of the casual dining revolution in America, and General Mills soon bought the restaurant.', 'Red Lobster later became part of Darden Restaurants, the owner of Olive Garden and other chains.', 'In 2014, Darden sold off Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion.', 'Since 2020, seafood distributor Thai Union Group, based in Thailand, has been the largest Red Lobster shareholder.', 'Thai Union owns 49% of the company.', 'But Red Lobster has struggled under Thai Union.', 'The number of customers coming to Red Lobster tumbled 30% since 2019 and has only slightly improved since the pandemic.', 'Earlier this year, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment.', 'Former Red Lobster employees say Thai Union’s cost-cutting efforts and strategy mistakes hurt the chain.', '“Thai Union forced huge cost reductions, including many that were penny wise and pound foolish because they hurt sales,” a former Red Lobster executive who spoke under the condition of anonymity because of a non-disclosure agreement with the company told CNN earlier this month.', 'Thai Union did not respond to requests for comment on that article.', 'Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn.', 'Red Lobster has had five CEOs since 2021.', 'In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.', 'All were gone within two years.', 'Last summer, under Thai Union, Red Lobster turned $20 endless shrimp into a permanent item on the menu for the first time, instead of its traditional limited-time offer deal.', 'The change cost the company $11 million and cut into Thai Union profit.', 'In its bankruptcy filing, Red Lobster said it is investigating the circumstances of that promotion, which the company’s management opposed.', '“We need to be much more careful,” Thai Union CFO Ludovic Garnier said on an earnings call in November 2023.', 'But the company in its bankruptcy filing blamed Thai Union for the losses.', 'Noting that under the guise of a “quality review,” Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal.', 'That led to higher costs for the restaurant chain, and did not comply with the company’s typical decision-making process for picking suppliers based on projected demand.', 'The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.', 'Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.', 'In its bankruptcy filing, Red Lobster conceded it had “a bloated and underperforming restaurant footprint” and cited a difficult economic environment and increased competition for its recent financial failures.', 'Red Lobster has been telegraphing its bankruptcy for months.', 'In January, the company hired Jonathan Tibus, a restructuring veteran, to assess its business.', 'It named Tibus as CEO in March.', 'Last week, the company began shutting down 93 restaurants in preparation for its bankruptcy.', 'As it ran out of cash, the company stopped paying its vendors last year.', 'The company plans to stay afloat with a $100 million financing agreement, it said in its bankruptcy petition.', 'This story has been updated with additional developments and context.']",0.0087222652082627,The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.,But the company in its bankruptcy filing blamed Thai Union for the losses.,-0.3643529415130615,The number of customers coming to Red Lobster tumbled 30% since 2019 and has only slightly improved since the pandemic.,"In its bankruptcy filing, Red Lobster conceded it had “a bloated and underperforming restaurant footprint” and cited a difficult economic environment and increased competition for its recent financial failures.",2024-05-23
+Shares of Hims & Hers Health surge 27% after startup says it will offer GLP-1 injections,https://www.cnbc.com/2024/05/20/hims-hers-compounded-glp-1-injections.html,2024-05-20T20:00:24+0000,"In this articleDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.Shares of the company closed up more than 27% Monday.The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December. But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform. Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.The company's oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month.Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025. The company plans to offer updated guidance in its next earnings report.The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.GLP-1s mimic a hormone produced in the gut to tamp down a person's appetite and regulate their blood sugar. When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient's needs.In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.""We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,"" he said.",CNBC,20/05/2024,"['In this articleDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.', 'Shares of the company closed up more than 27% Monday.', 'The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December.', 'But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.', 'Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform.', 'Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.', ""The company's oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month."", 'Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025.', 'The company plans to offer updated guidance in its next earnings report.', 'The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.', ""GLP-1s mimic a hormone produced in the gut to tamp down a person's appetite and regulate their blood sugar."", 'When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.', ""The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient's needs."", 'In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.', 'Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.', 'Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.', '""We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,"" he said.']",0.1168976892509908,"The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.","The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December.",0.5591075778007507,"Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.","The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.",2024-05-23
+"How Macy’s, Kohl’s and Nordstrom are chasing Millennial, Gen Z shoppers",https://www.cnbc.com/2024/05/20/macys-kohls-nordstrom-earnings-department-stores-younger-shoppers.html,2024-05-20T20:17:50+0000,"In this articleDepartment stores are aging — and so are their customers.For more than a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything. For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales.Department stores like Macy's, Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age. Harsh scrutiny from Wall Street has contributed to a fresh attempt by Nordstrom to take the company private, and a bid by activist investors to take over Macy's and turn it into a private company. Kohl's, too, has been the target of activist investors in the past few years.Oliver Chen, a retail analyst at TD Cowen, said attracting younger customers has become more urgent, since the retailers have ""lost so much ground already.""""When you're a department store, you need to — and you should — be catering to younger and older,"" he said.Customer data illustrates the challenge for the retailers: At Kohl's, 40% of customers are baby boomers, according to Numerator, a market research firm that tracks retail trends and sales patterns with a panel of 150,000 U.S. consumers that's balanced to represent the population. At Macy's, more than a third of customers — 36% — are boomers. (Macy's data includes just its namesake stores and website, not Bloomingdale's and beauty chain Bluemercury.)Baby boomers are age 60 or older, according to Numerator's definition. The firm defines Gen X as between ages 43 and 59. Numerator puts millennials in the age 29 to 42 range, and Gen Z between 18 and 28, since it only collects data from consumers 18 or older.Nordstrom is the only one of the three that has a larger base of millennial and Gen X shoppers than baby boomers, with boomers accounting for 25% of its customer base. Its customer data includes both its namesake stores and its off-price retail chain, Nordstrom Rack, which has been known to draw in younger, fashion-forward customers hunting for deals.All three department stores have announced plans to woo new customers — including younger ones. Yet they have shared weak outlooks for the fiscal year, calling for little, if any, year-over-year sales growth.Chen said the retailers are paying more attention to the problem, since Macy's and Kohl's both have new CEOs and all three are trying to improve their private brands. The lines can help a retailer stand out because they are exclusive and often priced lower than national brands.Aging customers aren't department stores' only hurdle. The chains, like other retailers, have struggled with foot traffic and sales as consumers spend less on clothing, bedding and other discretionary items while more of their money goes toward everyday items because of inflation.To attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department.In an interview with CNBC in late March, CEO Tom Kingsbury said department stores, including Kohl's, have relied too much on coupons to get customers through their doors. That formula doesn't work for millennial and Gen Z shoppers, he said. They want compelling merchandise and clear pricing — things they're finding at off-price stores like T.J. Maxx instead.Led by Kingsbury, Kohl's is trying to capitalize on life stages that tend to spark purchases, such as decorating an apartment for the first time or having a baby. The retailer plans to add Babies R Us shops to about 200 of its stores in the fall. It is now carrying more home goods, such as lighting and wall art.Kohl's has also used Sephora shops, which it is expanding to all stores, to draw in younger shoppers and try to nudge them to other parts of the store.""When they come in for Sephora, we want to make sure we can give them product they want as well,"" Kingsbury said.Still, Kohl's doesn't expect to see immediate results from the moves. It said in March that it anticipates net sales to range from a 1% decrease to a 1% increase for the full year, and comparable sales to range from flat to 2% higher.With a new CEO at the top, Macy's wants to refresh its namesake brand and shutter stores that have dragged down the company's sales.It plans to close more than a quarter of its approximately 500 namesake stores by early 2027. At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles.The company plans to open up to 30 of its smaller off-mall Macy's stores over the next two years. The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.It's also opening more Bloomingdale's stores and more locations of Bluemercury, its beauty chain — and taking steps to woo younger customers in the process.Macy's CEO Tony Spring, who stepped into the role in February, previously led Bloomingdale's, which carries luxury brands but also has popular private labels like clothing brand Aqua. It's also known for unique customer experiences, such as limited-time events or collections that tap into pop culture moments like the ""Barbie"" movie.He's hinted more of that is coming to Macy's. The company has debuted new, exclusive clothing brands and given others a makeover. It's trying to make Macy's more of an attraction, including by having a play area in Toys R Us shops within the stores or cocktails inside of Bloomie's, its smaller, off-mall version of Bloomingdale's.Despite efforts to jolt sales, the company's forecast is muted: Macy's expects full-year net sales to range between $22.2 billion and $22.9 billion, down from $23.09 billion in the prior year. It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1.5% to a gain of 1.5% compared with the year-ago period on an owned-plus-licensed basis and including third-party marketplace sales.One of the dilemmas for Macy's? Gen Z and millennial shoppers aren't as loyal, TD Cowen's Chen said. They shop high and low, buying a luxury handbag one day and an outfit from Target, Costco or Zara another.""You can actually look better for cheaper now,"" he said.Compared with its department store rivals, Nordstrom has had more success with younger shoppers.Some of that boils down to what the Seattle-based retailer carries: Nordstrom has been quicker to sign deals with hot brands and direct-to-consumer names, such as Skims, Kim Kardashian's shapewear company; and Beis, the handbag and luggage brand started by actress Shay Mitchell. It launched Australian fashion brand Princess Polly in January and timed the debut of millennial-focused fashion brand Nasty Gal with an activation in Los Angeles coinciding with the Coachella music and arts festival.Another advantage for Nordstrom? Most of its stores are Nordstrom Rack locations, off-price stores that may have a friendlier price point for younger shoppers.Still, CEO Erik Nordstrom said on the company's March earnings call that the retailer wants to do better. He said it's starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.""Nordstrom is trying to increase its fashion-forward merchandise in a new way, too. About a month ago, it rolled out a third-party marketplace that allows it to sell a wider variety of items without taking on the risk of owning the inventory. The marketplace approach follows the model that Amazon and more recently, Walmart, has used to bulk up its online offerings.With the marketplace, Nordstrom has said it will double or triple the number of items sold through its website and app. Macy's, too, has begun using a third-party marketplace to add more items and brands.Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.Marketplaces can help department stores, as they're under pressure to tightly manage inventory yet appeal to what different age groups want, said Christine Barton, a senior partner who researches consumer habits for the Boston Consulting Group.Cost pressures can cause a retailer to place safer bets and order the same kind of merchandise that they always carry.""You take away some of that newness,"" she said. ""You going back to more tried and true brands or products and so that becomes a bit of a self-reinforcing prophecy in terms of that younger consumer.""Breaking away from those old habits is something that department stores will need to do if they want to become a staple for younger generations — and stay relevant for decades more, she said.",CNBC,20/05/2024,"['In this articleDepartment stores are aging — and so are their customers.', 'For more than a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything.', ""For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales."", ""Department stores like Macy's, Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age."", ""Harsh scrutiny from Wall Street has contributed to a fresh attempt by Nordstrom to take the company private, and a bid by activist investors to take over Macy's and turn it into a private company."", ""Kohl's, too, has been the target of activist investors in the past few years."", 'Oliver Chen, a retail analyst at TD Cowen, said attracting younger customers has become more urgent, since the retailers have ""lost so much ground already.', '""""When you\'re a department store, you need to — and you should — be catering to younger and older,"" he said.', ""Customer data illustrates the challenge for the retailers: At Kohl's, 40% of customers are baby boomers, according to Numerator, a market research firm that tracks retail trends and sales patterns with a panel of 150,000 U.S. consumers that's balanced to represent the population."", ""At Macy's, more than a third of customers — 36% — are boomers. ("", ""Macy's data includes just its namesake stores and website, not Bloomingdale's and beauty chain Bluemercury.)Baby boomers are age 60 or older, according to Numerator's definition."", 'The firm defines Gen X as between ages 43 and 59.', 'Numerator puts millennials in the age 29 to 42 range, and Gen Z between 18 and 28, since it only collects data from consumers 18 or older.', 'Nordstrom is the only one of the three that has a larger base of millennial and Gen X shoppers than baby boomers, with boomers accounting for 25% of its customer base.', 'Its customer data includes both its namesake stores and its off-price retail chain, Nordstrom Rack, which has been known to draw in younger, fashion-forward customers hunting for deals.', 'All three department stores have announced plans to woo new customers — including younger ones.', 'Yet they have shared weak outlooks for the fiscal year, calling for little, if any, year-over-year sales growth.', ""Chen said the retailers are paying more attention to the problem, since Macy's and Kohl's both have new CEOs and all three are trying to improve their private brands."", 'The lines can help a retailer stand out because they are exclusive and often priced lower than national brands.', ""Aging customers aren't department stores' only hurdle."", 'The chains, like other retailers, have struggled with foot traffic and sales as consumers spend less on clothing, bedding and other discretionary items while more of their money goes toward everyday items because of inflation.', ""To attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department."", ""In an interview with CNBC in late March, CEO Tom Kingsbury said department stores, including Kohl's, have relied too much on coupons to get customers through their doors."", ""That formula doesn't work for millennial and Gen Z shoppers, he said."", ""They want compelling merchandise and clear pricing — things they're finding at off-price stores like T.J. Maxx instead."", ""Led by Kingsbury, Kohl's is trying to capitalize on life stages that tend to spark purchases, such as decorating an apartment for the first time or having a baby."", 'The retailer plans to add Babies R Us shops to about 200 of its stores in the fall.', 'It is now carrying more home goods, such as lighting and wall art.', ""Kohl's has also used Sephora shops, which it is expanding to all stores, to draw in younger shoppers and try to nudge them to other parts of the store."", '""When they come in for Sephora, we want to make sure we can give them product they want as well,"" Kingsbury said.', ""Still, Kohl's doesn't expect to see immediate results from the moves."", 'It said in March that it anticipates net sales to range from a 1% decrease to a 1% increase for the full year, and comparable sales to range from flat to 2% higher.', ""With a new CEO at the top, Macy's wants to refresh its namesake brand and shutter stores that have dragged down the company's sales."", 'It plans to closemore than a quarterof its approximately 500 namesake stores by early 2027.', ""At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles."", ""The company plans to open up to 30 of its smaller off-mall Macy's storesover the next two years."", 'The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.', ""It's also opening more Bloomingdale's stores and more locations of Bluemercury, its beauty chain — and taking steps to woo younger customers in the process."", ""Macy's CEO Tony Spring, who stepped into the role in February, previously led Bloomingdale's, which carries luxury brands but also has popular private labels like clothing brand Aqua."", 'It\'s also known for unique customer experiences, such as limited-time events or collections that tap into pop culture moments like the ""Barbie"" movie.', ""He's hinted more of that is coming to Macy's."", 'The company has debuted new, exclusive clothing brands and given others a makeover.', ""It's trying to make Macy's more of an attraction, including by having a play area in Toys R Us shops within the stores or cocktails inside of Bloomie's, its smaller, off-mall version of Bloomingdale's."", ""Despite efforts to jolt sales, the company's forecast is muted: Macy's expects full-year net sales to range between $22.2 billion and $22.9 billion, down from $23.09 billion in the prior year."", 'It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1.5% to a gain of 1.5% compared with the year-ago period on an owned-plus-licensed basis and including third-party marketplace sales.', ""One of the dilemmas for Macy's?"", ""Gen Z and millennial shoppers aren't as loyal, TD Cowen's Chen said."", 'They shop high and low, buying a luxury handbag one day and an outfit from Target, Costco or Zara another.', '""You can actually look better for cheaper now,"" he said.', 'Compared with its department store rivals, Nordstrom has had more success with younger shoppers.', ""Some of that boils down to what the Seattle-based retailer carries: Nordstrom has been quicker to sign deals with hot brands and direct-to-consumer names, such as Skims, Kim Kardashian's shapewear company; and Beis, the handbag and luggage brand started by actress Shay Mitchell."", 'It launched Australian fashion brand Princess Polly in January and timed the debut of millennial-focused fashion brand Nasty Gal with an activation in Los Angeles coinciding with the Coachella music and arts festival.', 'Another advantage for Nordstrom?', 'Most of its stores are Nordstrom Rack locations, off-price stores that may have a friendlier price point for younger shoppers.', ""Still, CEO Erik Nordstrom said on the company's March earnings call that the retailer wants to do better."", 'He said it\'s starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.', '""Nordstrom is trying to increase its fashion-forward merchandise in a new way, too.', 'About a month ago, it rolled out a third-party marketplace that allows it to sell a wider variety of items without taking on the risk of owning the inventory.', 'The marketplace approach follows the model that Amazon and more recently, Walmart, has used to bulk up its online offerings.', 'With the marketplace, Nordstrom has said it will double or triple the number of items sold through its website and app.', ""Macy's, too, has begun using a third-party marketplace to add more items and brands."", ""Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week."", ""Marketplaces can help department stores, as they're under pressure to tightly manage inventory yet appeal to what different age groups want, said Christine Barton, a senior partner who researches consumer habits for the Boston Consulting Group."", 'Cost pressures can cause a retailer to place safer bets and order the same kind of merchandise that they always carry.', '""You take away some of that newness,"" she said. ""', 'You going back to more tried and true brands or products and so that becomes a bit of a self-reinforcing prophecy in terms of that younger consumer.', '""Breaking away from those old habits is something that department stores will need to do if they want to become a staple for younger generations — and stay relevant for decades more, she said.']",0.2190840118688906,"Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.","For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales.",0.0798774834336905,"He said it's starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.","Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.",2024-05-23
+"Justice Department sues to break up Live Nation, parent of Ticketmaster",https://www.cnbc.com/2024/05/23/justice-department-sues-live-nation-ticketmaster.html,2024-05-23T19:30:45+0000,"In this articleThe U.S. Department of Justice is suing to break up Live Nation, the parent company of Ticketmaster, over alleged antitrust violations.The lawsuit, joined by 30 states and filed Thursday, follows a DOJ investigation into whether Live Nation maintains a monopoly in the ticketing industry, a probe launched in 2022 and bolstered by fan complaints after a botched rollout for tickets to Taylor Swift's Eras Tour.""We allege that Live Nation relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators,"" said Attorney General Merrick Garland in a statement. ""The result is that fans pay more in fees, artists have fewer opportunities to play concerts, smaller promoters get squeezed out, and venues have fewer real choices for ticketing services. It is time to break up Live Nation-Ticketmaster.""Shares of Live Nation were down 6% on Thursday.In a statement, Live Nation said the DOJ's allegations of a monopoly are ""absurd.""""The DOJ's complaint attempts to portray Live Nation and Ticketmaster as the cause of fan frustration with the live entertainment industry. It blames concert promoters and ticketing companies—neither of which control ticket prices—for high ticket prices. It ignores everything that is actually responsible for higher ticket prices, from increasing production costs to artist popularity, to 24/7 online ticket scalping that reveals the public's willingness to pay far more than primary tickets cost,"" said Dan Wall, Live Nation executive vice president for corporate and regulatory affairs.Live Nation and Ticketmaster merged in 2010, creating a dominant entity in the live event industry. The company directly manages more than 400 artists, controls around 60% of concert promotions at major concert venues, operates and manages ticket sales for live entertainment globally, and also owns and operates more than 265 entertainment venues in North America, including over 60 of the top 100 amphitheaters, according to the DOJ lawsuit.Through Ticketmaster, Live Nation controls roughly 80% or more of major concert venues' primary ticketing for concerts, the complaint said.""Taken individually and considered together, Live Nation's and Ticketmaster's conduct allows them to exploit their conflicts of interest — as a promoter, ticketer, venue owner and artist manager — across the live music industry and further entrench their dominant position,"" the complaint reads.The Justice Department lawsuit, filed in the U.S. District Court for the Southern District of New York, accuses Live Nation of violating the Sherman Act and maintaining a self-reinforcing business model by capturing fees and revenue from concert fans and sponsorships, which it then uses to lock artists into exclusive promotion deals that give the artists access to key entertainment venues across the country. Live Nation then uses that dominance to lock new concert venues into long-term exclusionary contracts, thereby restarting the cycle, the lawsuit claims.Live Nation is also accused of threatening financial retaliation against potential competitors and venues that work with rivals; strategically acquiring smaller and regional competitive threats for the purpose of growing their competitive moat; and exploiting a relationship with venue partner Oak View Group, flipping the latter's contracts over to Ticketmaster and discouraging competition in concert promotions.The lawsuit claims that Live Nation has discouraged bidding wars for artists and has unlawfully pressured artists into signing on for promotional services if they want to use the company's venues, at times sacrificing profits it can earn as a venue owner by preferring to let its venues sit empty rather than have artists with other promotional contracts.""In its own words, Live Nation uses its exclusionary conduct as a 'hedge against significant improvements by the competition or even a new competitor.' But the cost of that hedge is one that we all pay, for example a broken ticketing website with substandard customer service that still captures your valuable data,"" Assistant Attorney General Jonathan Kanter said during a press conference.""It is through these exclusive ticketing arrangements that Americans face the dreaded Ticketmaster tax, the seemingly endless set of fees ironically named service fee or convenience fee when they are anything but,"" Kanter said.Live Nation made headlines last year when a surge of demand from 14 million users, including bots, for Taylor Swift concert tickets led to site disruptions and slow queues. A Senate subcommittee issued a subpoena to Live Nation and Ticketmaster in November 2023, following a monthslong probe prompted by the exorbitant inflated ticket prices in Swift's Eras Tour.Steep prices for the U.S. shows led scores of fans to seek out tickets to Swift's tour in other countries, which could often be cheaper even after international air travel.""In other countries where venues are not bound by Ticketmaster's exclusive ticketing contracts, venues often use multiple ticketing companies for the same event and fans see lower fees and more innovative ticketing products as a result,"" Garland said in a news conference.Live Nation said Thursday it doesn't benefit from monopoly pricing, saying that Ticketmaster service charges ""are no higher than elsewhere, and frequently lower."" The company noted its overall net profit margin is at the low end of S&P 500 companies.Live Nation further argued the lawsuit won't reduce ticket prices or service fees. It said artist teams set prices for their tickets and the venues set and keep the majority of ticket fees.""Some call this 'anti-monopoly', but in reality it is just anti-business,"" Live Nation's Wall said. ""There is no legal basis for objecting to vertical integration on these grounds.""Live Nation earlier this month reported its ""biggest Q1 ever,"" citing first-quarter revenue that was up 21% from the prior-year period.The company has also been in the public eye in the past year over transparency issues regarding hidden fees in ticket pricing.",CNBC,23/05/2024,"['In this articleThe U.S. Department of Justice is suing to break up Live Nation, the parent company of Ticketmaster, over alleged antitrust violations.', ""The lawsuit, joined by 30 states and filed Thursday, follows a DOJ investigation into whether Live Nation maintains a monopoly in the ticketing industry, a probe launched in 2022 and bolstered by fan complaints after a botched rollout for tickets to Taylor Swift's Eras Tour."", '""We allege that Live Nation relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators,"" said Attorney General Merrick Garland in a statement. ""', 'The result is that fans pay more in fees, artists have fewer opportunities to play concerts, smaller promoters get squeezed out, and venues have fewer real choices for ticketing services.', 'It is time to break up Live Nation-Ticketmaster.', '""Shares of Live Nation were down 6% on Thursday.', 'In a statement, Live Nation said the DOJ\'s allegations of a monopoly are ""absurd.', '""""The DOJ\'s complaint attempts to portray Live Nation and Ticketmaster as the cause of fan frustration with the live entertainment industry.', 'It blames concert promoters and ticketing companies—neither of which control ticket prices—for high ticket prices.', 'It ignores everything that is actually responsible for higher ticket prices, from increasing production costs to artist popularity, to 24/7 online ticket scalping that reveals the public\'s willingness to pay far more than primary tickets cost,"" said Dan Wall, Live Nation executive vice president for corporate and regulatory affairs.', 'Live Nation and Ticketmaster merged in 2010, creating a dominant entity in the live event industry.', 'The company directly manages more than 400 artists, controls around 60% of concert promotions at major concert venues, operates and manages ticket sales for live entertainment globally, and also owns and operates more than 265 entertainment venues in North America, including over 60 of the top 100 amphitheaters, according to the DOJ lawsuit.', ""Through Ticketmaster, Live Nation controls roughly 80% or more of major concert venues' primary ticketing for concerts, the complaint said."", '""Taken individually and considered together, Live Nation\'s and Ticketmaster\'s conduct allows them to exploit their conflicts of interest — as a promoter, ticketer, venue owner and artist manager — across the live music industry and further entrench their dominant position,"" the complaint reads.', 'The Justice Department lawsuit, filed in the U.S. District Court for the Southern District of New York, accuses Live Nation of violating the Sherman Act and maintaining a self-reinforcing business model by capturing fees and revenue from concert fans and sponsorships, which it then uses to lock artists into exclusive promotion deals that give the artists access to key entertainment venues across the country.', 'Live Nation then uses that dominance to lock new concert venues into long-term exclusionary contracts, thereby restarting the cycle, the lawsuit claims.', ""Live Nation is also accused of threatening financial retaliation against potential competitors and venues that work with rivals; strategically acquiring smaller and regional competitive threats for the purpose of growing their competitive moat; and exploiting a relationship with venue partner Oak View Group, flipping the latter's contracts over to Ticketmaster and discouraging competition in concert promotions."", ""The lawsuit claims that Live Nation has discouraged bidding wars for artists and has unlawfully pressured artists into signing on for promotional services if they want to use the company's venues, at times sacrificing profits it can earn as a venue owner by preferring to let its venues sit empty rather than have artists with other promotional contracts."", '""In its own words, Live Nation uses its exclusionary conduct as a \'hedge against significant improvements by the competition or even a new competitor.\'', 'But the cost of that hedge is one that we all pay, for example a broken ticketing website with substandard customer service that still captures your valuable data,"" Assistant Attorney General Jonathan Kanter said during a press conference.', '""It is through these exclusive ticketing arrangements that Americans face the dreaded Ticketmaster tax, the seemingly endless set of fees ironically named service fee or convenience fee when they are anything but,"" Kanter said.', 'Live Nation made headlines last year when a surge of demand from 14 million users, including bots, for Taylor Swift concert tickets led to site disruptions and slow queues.', ""A Senate subcommittee issued a subpoena to Live Nation and Ticketmaster in November 2023, following a monthslong probe prompted by the exorbitant inflated ticket prices in Swift's Eras Tour."", ""Steep prices for the U.S. shows led scores of fans to seek out tickets to Swift's tour in other countries, which could often be cheaper even after international air travel."", '""In other countries where venues are not bound by Ticketmaster\'s exclusive ticketing contracts, venues often use multiple ticketing companies for the same event and fans see lower fees and more innovative ticketing products as a result,"" Garland said in a news conference.', 'Live Nation said Thursday it doesn\'t benefit from monopoly pricing, saying that Ticketmaster service charges ""are no higher than elsewhere, and frequently lower.""', 'The company noted its overall net profit margin is at the low end of S&P 500 companies.', ""Live Nation further argued the lawsuit won't reduce ticket prices or service fees."", 'It said artist teams set prices for their tickets and the venues set and keep the majority of ticket fees.', '""Some call this \'anti-monopoly\', but in reality it is just anti-business,"" Live Nation\'s Wall said. ""', 'There is no legal basis for objecting to vertical integration on these grounds.', '""Live Nation earlier this month reported its ""biggest Q1 ever,"" citing first-quarter revenue that was up 21% from the prior-year period.', 'The company has also been in the public eye in the past year over transparency issues regarding hidden fees in ticket pricing.']",-0.0308866198552047,"The company directly manages more than 400 artists, controls around 60% of concert promotions at major concert venues, operates and manages ticket sales for live entertainment globally, and also owns and operates more than 265 entertainment venues in North America, including over 60 of the top 100 amphitheaters, according to the DOJ lawsuit.","Live Nation is also accused of threatening financial retaliation against potential competitors and venues that work with rivals; strategically acquiring smaller and regional competitive threats for the purpose of growing their competitive moat; and exploiting a relationship with venue partner Oak View Group, flipping the latter's contracts over to Ticketmaster and discouraging competition in concert promotions.",-0.234542801099665,"""Live Nation earlier this month reported its ""biggest Q1 ever,"" citing first-quarter revenue that was up 21% from the prior-year period.","""Shares of Live Nation were down 6% on Thursday.",2024-05-23
+"Minnesota lawmakers strike minimum pay deal for Uber, Lyft drivers",https://edition.cnn.com/2024/05/19/business/uber-lyft-drivers-pay-minnesota/index.html,"
+  Published
+        1:46 PM EDT, Sun May 19, 2024
+    ","Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night.
+    
+            The agreement is the culmination of nearly a year of back and forth between Democratic state officials and the two companies, who threatened to withdraw their businesses from Minnesota over a proposed Minneapolis ordinance that would grant rideshare drivers increased worker protections.
+    
+            The ordinance, initially adopted in August 2023, was part of a larger effort to grant more comprehensive benefits to contract workers, who take freelance work at digital platforms like DoorDash, Instacart, Uber and Lyft. It mandated drivers be paid at least $1.40 per mile and $0.51 per minute.
+    
+            The rule was delayed after Lyft and Uber warned they would leave Minneapolis. State lawmakers have been focused on compromising with the companies before a July 1 deadline.
+    
+            Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute. The rule will override the higher rate the Minneapolis City Council had initially proposed.
+    
+            “When you take it as a blended rate, that results in a 20% increase in pay for drivers in the state of Minnesota,” the state’s Democratic House Majority Leader Jamie Long told reporters Saturday night.
+    
+            The bill also includes the “strongest insurance provision for drivers in the entire country,” Long added.
+    
+            “It was a hard-fought compromise,” said Democratic Senate Majority Leader Erin Murphy, acknowledging negotiations over pay had to toe the line between addressing the needs of employees and the need of Minnesotans who rely on rideshare services for transportation.
+    
+            “We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard. While the coming price increases may hurt riders and drivers alike, we will be able to continue to operate across the State under the compromise brokered by the Governor,” Uber’s policy director Josh Gold said in a statement.
+    
+            Lyft has not responded to CNN’s request for comment.",CNN,19/05/2024,"['Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night.', 'The agreement is the culmination of nearly a year of back and forth between Democratic state officials and the two companies, who threatened to withdraw their businesses from Minnesota over a proposed Minneapolis ordinance that would grant rideshare drivers increased worker protections.', 'The ordinance, initially adopted in August 2023, was part of a larger effort to grant more comprehensive benefits to contract workers, who take freelance work at digital platforms like DoorDash, Instacart, Uber and Lyft.', 'It mandated drivers be paid at least $1.40 per mile and $0.51 per minute.', 'The rule was delayed after Lyft and Uber warned they would leave Minneapolis.', 'State lawmakers have been focused on compromising with the companies before a July 1 deadline.', 'Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute.', 'The rule will override the higher rate the Minneapolis City Council had initially proposed.', '“When you take it as a blended rate, that results in a 20% increase in pay for drivers in the state of Minnesota,” the state’s Democratic House Majority Leader Jamie Long told reporters Saturday night.', 'The bill also includes the “strongest insurance provision for drivers in the entire country,” Long added.', '“It was a hard-fought compromise,” said Democratic Senate Majority Leader Erin Murphy, acknowledging negotiations over pay had to toe the line between addressing the needs of employees and the need of Minnesotans who rely on rideshare services for transportation.', '“We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard.', 'While the coming price increases may hurt riders and drivers alike, we will be able to continue to operate across the State under the compromise brokered by the Governor,” Uber’s policy director Josh Gold said in a statement.', 'Lyft has not responded to CNN’s request for comment.']",0.1198446285366897,"The ordinance, initially adopted in August 2023, was part of a larger effort to grant more comprehensive benefits to contract workers, who take freelance work at digital platforms like DoorDash, Instacart, Uber and Lyft.",The rule was delayed after Lyft and Uber warned they would leave Minneapolis.,0.929633229970932,"Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night.",,2024-05-23
+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.",2024-05-23
+Pixar is laying off 14% of its workforce as Disney scales back content,https://www.cnbc.com/2024/05/21/disneys-pixar-layoffs.html,2024-05-21T16:52:56+0000,"Long-expected layoffs are hitting Pixar Animation Studios on Tuesday.Pixar will lay off about 175 employees, or around 14% of the studio's workforce, a spokesperson for parent company Walt Disney told CNBC. The cuts come as CEO Bob Iger works toward his overarching mandate to focus on the quality of its content, not the quantity.Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules. Initially, it was reported that 20% of the animation studio's employees would be laid off.Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns. While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.When theaters closed during the pandemic, Disney sought to pad the company's fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical movies straight to digital.The decision trained parents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen. Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children.As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019. For comparison, just before the pandemic, ""Coco"" generated $796 million globally, while ""Incredibles 2"" tallied $1.24 billion globally, and ""Toy Story 4"" snared $1.07 billion globally.With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.— CNBC's Julia Boorstin contributed to this report",CNBC,21/05/2024,"['Long-expected layoffs are hitting Pixar Animation Studios on Tuesday.', ""Pixar will lay off about 175 employees, or around 14% of the studio's workforce, a spokesperson for parent company Walt Disney told CNBC."", 'The cuts come as CEO Bob Iger works toward his overarching mandate to focus on the quality of its content, not the quantity.', ""Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules."", ""Initially, it was reported that 20% of the animation studio's employees would be laid off."", ""Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns."", 'While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.', ""When theaters closed during the pandemic, Disney sought topad the company's fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical moviesstraight to digital."", 'The decision trainedparents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen.', ""Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children."", 'As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019.', 'For comparison, just before the pandemic, ""Coco"" generated $796 million globally, while ""Incredibles 2"" tallied $1.24 billion globally, and ""Toy Story 4"" snared $1.07 billion globally.', 'With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.—', ""CNBC's Julia Boorstin contributed to this report""]",-0.0605692620657825,"While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.","Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules.",-0.8452608287334442,,"Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children.",2024-05-23
+Sam Bankman-Fried is being moved to a new prison,https://edition.cnn.com/2024/05/22/business/sam-bankman-fried-new-prison/index.html,"
+  Published
+        1:06 PM EDT, Wed May 22, 2024
+    ","Prison officials began transferring former crypto mogul Sam Bankman-Fried to a new facility early Wednesday, removing him from the Brooklyn, New York, jail where he’s resided for the past nine months, a spokesperson for Bankman-Fried said.
+    
+            It wasn’t immediately clear where he was being transferred, but the spokesperson said Bankman-Fried told people close to him that he believes he is going to Mendota, California, a two-and-a-half-hour drive from his parents’ home near the Stanford University campus.
+    
+            Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website.
+    
+            Bankman-Fried had sought to stay in New York in the near term while preparing his appeal on multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison.
+    
+            A jury last fall found Bankman-Fried guilty of carrying out what prosecutors called one of the biggest financial crimes in US history. He was convicted of stealing billions of dollars from customers of his once high-flying cryptocurrency exchange, FTX, which collapsed into bankruptcy in late 2022.
+    
+            The Bureau of Prisons declined to provide details, telling CNN that it doesn’t comment on “the conditions of confinement for any individual, including potential transfers,” citing security concerns.
+    
+            —CNN’s Erin Burnett and Sabrina Souza contributed reporting.",CNN,22/05/2024,"['Prison officials began transferring former crypto mogul Sam Bankman-Fried to a new facility early Wednesday, removing him from the Brooklyn, New York, jail where he’s resided for the past nine months, a spokesperson for Bankman-Fried said.', 'It wasn’t immediately clear where he was being transferred, but the spokesperson said Bankman-Fried told people close to him that he believes he is going to Mendota, California, a two-and-a-half-hour drive from his parents’ home near the Stanford University campus.', 'Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website.', 'Bankman-Fried had sought to stay in New York in the near term while preparing his appeal on multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison.', 'A jury last fall found Bankman-Fried guilty of carrying out what prosecutors called one of the biggest financial crimes in US history.', 'He was convicted of stealing billions of dollars from customers of his once high-flying cryptocurrency exchange, FTX, which collapsed into bankruptcy in late 2022.', 'The Bureau of Prisons declined to provide details, telling CNN that it doesn’t comment on “the conditions of confinement for any individual, including potential transfers,” citing security concerns.', '—CNN’s Erin Burnett and Sabrina Souza contributed reporting.']",-0.1744097497607738,"Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website.","Bankman-Fried had sought to stay in New York in the near term while preparing his appeal on multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison.",-0.8470712900161743,,"He was convicted of stealing billions of dollars from customers of his once high-flying cryptocurrency exchange, FTX, which collapsed into bankruptcy in late 2022.",2024-05-23
+McDonald's franchisee group says $5 value meal can't last without company investment,https://www.cnbc.com/2024/05/21/mcdonalds-franchisee-group-value-meal.html,2024-05-21T21:34:30+0000,"In this articleAn independent advocacy group of McDonald's franchisees is weighing in on the company's upcoming value meal promotion, cheering affordability for the consumer, but pushing for future contributions from the company to make the discounted offering sustainable for operators in the long run. ""The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators. McDonald's vast resources and financial investment are essential to any sustainable affordable strategy,"" the board of the National Owners Association wrote in a letter to membership.The letter calls the McDonald's business model a ""penny profit business, with 10-15% margins,"" and says ""There simply is not enough profit to discount 30% for this model to be sustainable. It necessitates a financial contribution by McDonald's.""CNBC reported last week that the $5 value meal would be hitting menu boards beginning June 25 and lasting roughly a month. It will include a McChicken or McDouble, four piece chicken nuggets, fries and a drink. The combo would be substantially less than purchasing those items individually.The offering comes as lower-income consumers pull back from certain restaurants in the face of stubborn inflation, and brands look to offer greater value to customers.CNBC reported Coca-Cola had added marketing funds to make the deal more appealing for McDonald's and its franchisees after an initial proposal did not pass internal hurdles. In a statement last week, Coca-Cola said, ""We routinely partner with our customers on marketing programs to meet consumer needs. This helps us grow our businesses together.""McDonald's declined to comment on the NOA letter to its membership. In a statement to CNBC last week on the value meal, the company said, ""We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today.""The company has previously noted cash flows for U.S. franchisees are up nearly 50% on average since 2018. Even when accounting for inflation, 2023 was one of the best years for franchisee cash flow in the company's history, McDonald's has previously said.Beyond the $5 promotion, the NOA letter goes on to suggest the company should continue to innovate on the menu, bringing back items such as snack wraps that use existing chicken breasts, creating affordable options with lower food costs so they are more affordable for owners to sell.The group also suggested taking the top two beverages from McDonald's spinoff chain, CosMc's, and bringing them to flagship locations as a way to excite both customers and employees.These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting ""core and iconic"" items.""Recently [McDonald's CEO Chris Kempczinski] has made public comments about the US consumers' growing need for affordability. This is not a new or unique message; value has always been at our Brands's core,"" NOA said in a letter to membership viewed by CNBC in February.",CNBC,21/05/2024,"[""In this articleAn independent advocacy group of McDonald's franchisees is weighing in on the company's upcoming value meal promotion, cheering affordability for the consumer, but pushing for future contributions from the company to make the discounted offering sustainable for operators in the long run."", '""The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators.', 'McDonald\'s vast resources and financial investment are essential to any sustainable affordable strategy,"" the board of the National Owners Association wrote in a letter to membership.', 'The letter calls the McDonald\'s business model a ""penny profit business, with 10-15% margins,"" and says ""There simply is not enough profit to discount 30% for this model to be sustainable.', ""It necessitates a financial contribution by McDonald's."", '""CNBC reported last week that the $5 value meal would be hitting menu boards beginning June 25 and lasting roughly a month.', 'It will include a McChicken or McDouble, four piece chicken nuggets, fries and a drink.', 'The combo would be substantially less than purchasing those items individually.', 'The offering comes as lower-income consumers pull back from certain restaurants in the face of stubborn inflation, and brands look to offer greater value to customers.', ""CNBC reported Coca-Cola had added marketing funds to make the deal more appealing for McDonald's and its franchisees after an initial proposal did not pass internal hurdles."", 'In a statement last week, Coca-Cola said, ""We routinely partner with our customers on marketing programs to meet consumer needs.', 'This helps us grow our businesses together.', '""McDonald\'s declined to comment on the NOA letter to its membership.', 'In a statement to CNBC last week on the value meal, the company said, ""We know how much it means to our customers when McDonald\'s offers meaningful value and communicates it through national advertising.', ""That's been true since our very beginning and never more important than it is today."", '""The company has previously noted cash flows for U.S. franchisees are up nearly 50% on average since 2018.', ""Even when accounting for inflation, 2023 was one of the best years for franchisee cash flow in the company's history, McDonald's has previously said."", 'Beyond the $5 promotion, the NOA letter goes on to suggest the company should continue to innovate on the menu, bringing back items such as snack wraps that use existing chicken breasts, creating affordable options with lower food costs so they are more affordable for owners to sell.', ""The group also suggested taking the top two beverages from McDonald's spinoff chain, CosMc's, and bringing them to flagship locations as a way to excite both customers and employees."", 'These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting ""core and iconic"" items.', '""Recently [McDonald\'s CEO Chris Kempczinski] has made public comments about the US consumers\' growing need for affordability.', 'This is not a new or unique message; value has always been at our Brands\'s core,"" NOA said in a letter to membership viewed by CNBC in February.']",0.2217713614432277,"In a statement to CNBC last week on the value meal, the company said, ""We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising.",,0.7626634041468302,"""The company has previously noted cash flows for U.S. franchisees are up nearly 50% on average since 2018.","The letter calls the McDonald's business model a ""penny profit business, with 10-15% margins,"" and says ""There simply is not enough profit to discount 30% for this model to be sustainable.",2024-05-23
+"Macy’s beats earnings estimates, as turnaround plan shows early progress",https://www.cnbc.com/2024/05/21/macys-m-q1-2024-earnings.html,2024-05-21T21:34:25+0000,"In this articleMacy's fiscal first-quarter earnings topped Wall Street's expectations on Tuesday, and the retailer's revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy.The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook. On Macy's earnings call, CFO and COO Adrian Mitchell said the company assumes in its outlook that consumers ""will remain under pressure for the balance of the year.""But he added that the retailer expects to get a lift this year as it pushes ahead with its turnaround strategy online and in stores.The company's shares closed about 5% higher Tuesday.On an earnings call with investors, CEO Tony Spring said the company is in the ""early innings"" of turning around its namesake stores. As the retailer has stepped up investments at 50 of its Macy's stores, customers have responded by visiting more often and buying more when they do, he said.For example, Macy's has made sure there are sales associates at those stores ready to help customers in the fitting rooms and shoe department, and at jewelry counters. The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss. And Macy's has tried to give shoppers more reasons to stop by, such as by offering personal styling sessions, fashion shows and fragrance bottle engraving, Spring added.""We need more variety,"" he said. ""We need less redundancy. We need more interest within the assortment and I think that's making a difference in the customer's reception to the stores.""Here's what Macy's reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:Macy's first-quarter net income tumbled 60% to $62 million, or 22 cents per share, compared with $155 million, or 56 cents per share, in the year-ago quarter. Net sales fell from $4.98 billion in the year-ago period.Macy's now anticipates net sales of between $22.3 billion and $22.9 billion, which would still represent a drop from $23.09 billion in 2023. It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1% to a gain of 1.5% on an owned-plus-licensed basis and including third-party marketplace sales. It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again. The department store operator, which includes Bloomingdale's and beauty chain Bluemercury, said earlier this year that it would close about 150 of its namesake stores. That's more than a quarter of its namesake Macy's locations. It had already announced five store closures and more than 2,300 layoffs in January.Yet the retailer said it will invest in parts of the business that have fared better, including the roughly 350 Macy's stores that will stay open. It plans to open more Bloomingdale's and Bluemercury locations, and smaller Macy's stores in suburban strip malls.In the first quarter, Bloomingdale's and Bluemercury continued to fare better than the company's namesake brand. At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%. At Bloomingdale's, comparable sales increased 0.3% on an owned-plus-licensed basis, including third-party marketplace sales. At Macy's, comparable sales declined 0.4% on an owned-plus-licensed basis, including the third-party marketplace.The company said the 150 underperforming Macy's stores – which will close by early 2027 – dragged down the results.At the approximately 350 Macy's stores that will stay open, comparable sales were up 0.1% on an owned-plus-licensed basis. At the first 50 of those stores to get additional investment, comparable sales were even better: up 3.4% on an owned-plus-licensed basis.Along with taking a hard look at its store footprint, Macy's has tried to attract more customers, including more millennial and Gen Z shoppers, by launching new exclusive brands and overhauling its existing ones.Macy's has contended with another challenge: a takeover bid by an activist investor. Arkhouse Management and Brigade Capital have made a bid to buy Macy's and take the company private. Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members.Shares of Macy's closed Tuesday at $20.08, bringing the company's market value to $5.53 billion. As of Tuesday's close, the company's stock was about flat this year, lagging behind the S&P 500's approximately 11% gains during the same period.",CNBC,21/05/2024,"[""In this articleMacy's fiscal first-quarter earnings topped Wall Street's expectations on Tuesday, and the retailer's revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy."", 'The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook.', 'On Macy\'s earnings call, CFO and COO Adrian Mitchell said the company assumes in its outlook that consumers ""will remain under pressure for the balance of the year.', '""But he added that the retailer expects to get a lift this year as it pushes ahead with its turnaround strategy online and in stores.', ""The company's shares closed about 5% higher Tuesday."", 'On an earnings call with investors, CEO Tony Spring said the company is in the ""early innings"" of turning around its namesake stores.', ""As the retailer has stepped up investments at 50 of its Macy's stores, customers have responded by visiting more often and buying more when they do, he said."", ""For example, Macy's has made sure there are sales associates at those stores ready to help customers in the fitting rooms and shoe department, and at jewelry counters."", 'The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss.', ""And Macy's has tried to give shoppers more reasons to stop by, such as by offering personal styling sessions, fashion shows and fragrance bottle engraving, Spring added."", '""We need more variety,"" he said. ""', 'We need less redundancy.', ""We need more interest within the assortment and I think that's making a difference in the customer's reception to the stores."", '""Here\'s what Macy\'s reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:Macy\'s first-quarter net income tumbled 60% to $62 million, or 22 cents per share, compared with $155 million, or 56 cents per share, in the year-ago quarter.', 'Net sales fell from $4.98 billion in the year-ago period.', ""Macy's now anticipates net sales of between $22.3 billion and $22.9 billion, which would still represent a drop from $23.09 billion in 2023."", 'It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1% to a gain of 1.5% on an owned-plus-licensed basis and including third-party marketplace sales.', ""It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again."", ""The department store operator, which includes Bloomingdale's and beauty chain Bluemercury, said earlier this year that it would close about 150 of its namesake stores."", ""That's more than a quarter of its namesake Macy's locations."", 'It had already announced five store closures and more than 2,300 layoffs in January.', ""Yet the retailer said it will invest in parts of the business that have fared better, including the roughly 350 Macy's stores that will stay open."", ""It plans to open more Bloomingdale's and Bluemercury locations, and smaller Macy's stores in suburban strip malls."", ""In the first quarter, Bloomingdale's and Bluemercury continued to fare better than the company's namesake brand."", 'At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%.', ""At Bloomingdale's, comparable sales increased 0.3% on an owned-plus-licensed basis, including third-party marketplace sales."", ""At Macy's, comparable sales declined 0.4% on an owned-plus-licensed basis, including the third-party marketplace."", ""The company said the 150 underperforming Macy's stores – which will close by early 2027 – dragged down the results."", ""At the approximately 350 Macy's stores that will stay open, comparable sales were up 0.1% on an owned-plus-licensed basis."", 'At the first 50 of those stores to get additional investment, comparable sales were even better: up 3.4% on an owned-plus-licensed basis.', ""Along with taking a hard look at its store footprint, Macy's has tried to attract more customers, including more millennial and Gen Z shoppers, by launching new exclusive brands and overhauling its existing ones."", ""Macy's has contended with another challenge: a takeover bid by an activist investor."", ""Arkhouse Management and Brigade Capital have made a bid to buy Macy's and take the company private."", ""Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members."", ""Shares of Macy's closed Tuesday at $20.08, bringing the company's market value to $5.53 billion."", ""As of Tuesday's close, the company's stock was about flat this year, lagging behind the S&P 500's approximately 11% gains during the same period.""]",0.1747220943551635,"The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss.","Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members.",0.2025308990478515,"At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%.","It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again.",2024-05-23
+A 220-year-old American corporate powerhouse is breaking up,https://edition.cnn.com/2024/05/22/business/dupont-de-nemours-company-split/index.html,"
+  Updated
+        10:47 AM EDT, Thu May 23, 2024
+    ","DuPont de Nemours, the American multinational chemical company that traces its history back to 1802, announced plans to split into three publicly traded companies on Wednesday.
+    
+            The company plans to spin off its electronics and water businesses into their own yet-to-be-named companies in a transaction that is tax-free to shareholders. DuPont said it expects to complete the breakup transactions within the next 18 to 24 months, and it is subject to final approval by DuPont’s board of directors.
+    
+            The announcement also included a shakeup in leadership: Effective June 1, DuPont’s chief financial officer, Lori Koch, will step into the CEO role. DuPont’s current CEO, Ed Breen, will stay on as executive chairman. Koch will remain CEO of the new, slimmed-down DuPont once the spin-offs are complete, according to the company.
+    
+            Shares of DuPont were slightly higher in Thursday morning trading, rising by around 1.5% after the opening bell.
+    
+            DuPont’s breakup comes amid other large, multinational companies announcing breakups in recent years, with many CEOs and corporate boards touting the agility of smaller companies.
+    
+            In a statement, Breen echoed a similar refrain, saying the three smaller companies would have greater flexibility after the spin-off.
+    
+            “The three-way separation will unlock incremental value for shareholders and customers and also create new opportunities for employees,” he said. “Critically, each company will have greater flexibility to pursue their own focused growth strategies, including portfolio enhancing M&A (mergers and acquisitions).”
+    
+            In the last several years, major American companies like J&J, Kellogg and General Electric announced company break-ups and spin-offs, signaling a preference for smaller, more nimble companies over the conglomerates that gained prominence in previous decades.
+    
+            This is the second DuPont breakup in half a decade. In 2019, DowDuPont, which was created in a DuPont merger with Dow Chemical, broke apart into three separate entities: DuPont, Dow Chemical and Corteva, the company’s agriculture business.
+    
+            On Wednesday, DuPont said the newly formed electronics company would focus on “semiconductor solutions and advanced electronics products,” while the new water company would be “a comprehensive water solutions provider.” The leftover divisions will remain as part of DuPont.",CNN,23/05/2024,"['DuPont de Nemours, the American multinational chemical company that traces its history back to 1802, announced plans to split into three publicly traded companies on Wednesday.', 'The company plans to spin off its electronics and water businesses into their own yet-to-be-named companies in a transaction that is tax-free to shareholders.', 'DuPont said it expects to complete the breakup transactions within the next 18 to 24 months, and it is subject to final approval by DuPont’s board of directors.', 'The announcement also included a shakeup in leadership: Effective June 1, DuPont’s chief financial officer, Lori Koch, will step into the CEO role.', 'DuPont’s current CEO, Ed Breen, will stay on as executive chairman.', 'Koch will remain CEO of the new, slimmed-down DuPont once the spin-offs are complete, according to the company.', 'Shares of DuPont were slightly higher in Thursday morning trading, rising by around 1.5% after the opening bell.', 'DuPont’s breakup comes amid other large, multinational companies announcing breakups in recent years, with many CEOs and corporate boards touting the agility of smaller companies.', 'In a statement, Breen echoed a similar refrain, saying the three smaller companies would have greater flexibility after the spin-off.', '“The three-way separation will unlock incremental value for shareholders and customers and also create new opportunities for employees,” he said. “', 'Critically, each company will have greater flexibility to pursue their own focused growth strategies, including portfolio enhancing M&A (mergers and acquisitions).”', 'In the last several years, major American companies like J&J, Kellogg and General Electric announced company break-ups and spin-offs, signaling a preference for smaller, more nimble companies over the conglomerates that gained prominence in previous decades.', 'This is the second DuPont breakup in half a decade.', 'In 2019, DowDuPont, which was created in a DuPont merger with Dow Chemical, broke apart into three separate entities: DuPont, Dow Chemical and Corteva, the company’s agriculture business.', 'On Wednesday, DuPont said the newly formed electronics company would focus on “semiconductor solutions and advanced electronics products,” while the new water company would be “a comprehensive water solutions provider.”', 'The leftover divisions will remain as part of DuPont.']",0.296888629319359,"Critically, each company will have greater flexibility to pursue their own focused growth strategies, including portfolio enhancing M&A (mergers and acquisitions).”","In 2019, DowDuPont, which was created in a DuPont merger with Dow Chemical, broke apart into three separate entities: DuPont, Dow Chemical and Corteva, the company’s agriculture business.",0.8975565731525421,"“The three-way separation will unlock incremental value for shareholders and customers and also create new opportunities for employees,” he said. “",,2024-05-23
+Pfizer aims to save $1.5 billion by 2027 in first wave of new cost cuts,https://www.cnbc.com/2024/05/22/pfizer-announces-new-cost-cutting-program.html,2024-05-22T19:13:22+0000,"In this articlePfizer on Wednesday said it has launched a new multiyear program to reduce costs as it works to rebound from the rapid decline of its Covid business. The announcement is in addition to another $4 billion cost-cutting effort, which Pfizer announced last year as demand for its Covid vaccine and oral drug Paxlovid slumped. In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to save the company about $1.5 billion by the end of 2027.One-time costs related to the initial stage of cuts are expected to be about $1.7 billion, including severance for an unspecified number of laid-off employees. The company expects to record the majority of those charges this year. Pfizer also expects the program to involve ""product portfolio enhancements"" and changes to the company's manufacturing and supply network, a spokesperson told CNBC.""The program will focus on streamlining our ways of working, reducing complexity and increasing productivity in Pfizer Global Supply,"" the spokesperson said in a statement.Pfizer in the filing added that ""given the complexity in manufacturing and longer lead times required to make changes, this program will be a multi-phased effort.""Pfizer is trying to shore up investor sentiment after its shares fell nearly 50% in 2023, making it the worst-performing pharmaceutical stock last year. That share drop erased more than $100 billion in Pfizer's market value.As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a new RSV shot, a twice-daily weight loss pill that fell short in clinical trials and an initial 2024 forecast that missed expectations.But Pfizer pleased investors earlier this month after it reported first-quarter revenue and adjusted profit that beat expectations and hiked its full-year earnings outlook. The pharmaceutical giant said its new profit guidance accounts for its ""confidence"" in its business and its ability to slash costs.""We are cautiously optimistic about the year,"" Pfizer CEO Albert Bourla said during an earnings call on May 1.Shares of the company closed 6% higher on that day. Pfizer's stock is up nearly 14% since then.",CNBC,22/05/2024,"['In this articlePfizer on Wednesday said it has launched a new multiyear program to reduce costs as it works to rebound from the rapid decline of its Covid business.', 'The announcement is in addition to another $4 billion cost-cutting effort, which Pfizer announced last year as demand for its Covid vaccine and oral drug Paxlovid slumped.', 'In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to save the company about $1.5 billion by the end of 2027.One-time costs related to the initial stage of cuts are expected to be about $1.7 billion, including severance for an unspecified number of laid-off employees.', 'The company expects to record the majority of those charges this year.', 'Pfizer also expects the program to involve ""product portfolio enhancements"" and changes to the company\'s manufacturing and supply network, a spokesperson told CNBC.""The program will focus on streamlining our ways of working, reducing complexity and increasing productivity in Pfizer Global Supply,"" the spokesperson said in a statement.', 'Pfizer in the filing added that ""given the complexity in manufacturing and longer lead times required to make changes, this program will be a multi-phased effort.', '""Pfizer is trying to shore up investor sentiment after its shares fell nearly 50% in 2023, making it the worst-performing pharmaceutical stock last year.', ""That share drop erased more than $100 billion in Pfizer's market value."", 'As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a newRSV shot, a twice-daily weight loss pill thatfell shortin clinical trials and an initial 2024forecastthat missed expectations.', 'But Pfizer pleased investors earlier this month after itreportedfirst-quarter revenue and adjusted profit that beat expectations and hiked its full-year earnings outlook.', 'The pharmaceutical giant said its new profit guidance accounts for its ""confidence"" in its business and its ability to slash costs.', '""We are cautiously optimistic about the year,"" Pfizer CEO Albert Bourla said during an earnings call on May 1.Shares of the company closed 6% higher on that day.', ""Pfizer's stock is up nearly 14% since then.""]",0.1117123241806072,"In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to save the company about $1.5 billion by the end of 2027.One-time costs related to the initial stage of cuts are expected to be about $1.7 billion, including severance for an unspecified number of laid-off employees.","As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a newRSV shot, a twice-daily weight loss pill thatfell shortin clinical trials and an initial 2024forecastthat missed expectations.",0.4545602852647954,Pfizer's stock is up nearly 14% since then.,"As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a newRSV shot, a twice-daily weight loss pill thatfell shortin clinical trials and an initial 2024forecastthat missed expectations.",2024-05-23
+Why Target and McDonald's are cutting prices and offering deals,https://www.cnbc.com/2024/05/22/target-walmart-mcdonalds-price-cuts-deals.html,2024-05-22T19:17:37+0000,"Target's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters.The discounter is not alone.Target's first-quarter results on Wednesday not only show American consumers are more selective about spending in the face of sustained inflation that has squeezed their budgets for nearly three years. The company's declining sales also illustrate how the battle for shoppers' wallets has heated up as retailers — and even some restaurants — race to outmatch each other on low prices.Walmart said last week that its grocery ""rollbacks,"" short-term deals on specific items, were up 45% year over year in April. The discounter also introduced a new premium grocery brand with most items under $5.Elsewhere, Aldi dropped prices earlier this month on more than 250 items, including chicken, steak, granola bars and frozen blueberries. And even McDonald's is debuting a limited-time $5 value meal in late June as some diners scoff at the price of fast food.Target made its move on Monday, saying it has already reduced prices on about 1,500 items and plans to cut prices on thousands more this summer. Many of those items are staples such as milk, peanut butter and diapers.Multiple major grocers and restaurants cutting prices or offering deals could offer relief at the checkout, at a time when consumer prices are still climbing more than 3% from last year. It could also give the Federal Reserve more confidence to cut interest rates. Even so, the revenue lost from lower prices could force businesses to cut back elsewhere — potentially on labor costs.Analysts on Target's earnings call on Wednesday asked about the timing and reasoning behind the price cuts and whether the retailer or its vendors are picking up the tab. The company declined to share details of that split, but Chief Growth Officer Christina Hennington said Target's vendors know the company is committed to passing on savings to its customers to drive traffic.Some businesses have held on to customers even with the same or higher prices: Chipotle and Sweetgreen, for example, have bucked the consumer slowdown.Target's earnings report revealed at least part of the reason why it is joining the race to cut prices. Sales of discretionary merchandise, such as clothing, dropped year over year. But so did sales of higher frequency items like groceries and paper towels.Some customers may be making those purchases at Walmart instead. Transactions on Walmart's website and stores rose 3.8% in the most recent quarter, and its e-commerce purchases shot up by 22% in the U.S., the company reported last week.In an interview with CNBC, Walmart finance chief John David Rainey said the retail giant is gaining share from higher-income households. He added some consumers are coming to its stores for meals because of sticker shock at fast-food chains.""We've got customers that are coming to us more frequently than they have before and newer customers that we haven't traditionally had,"" he said.On Target's earnings call, analysts asked tough questions about whether the retailer is losing ground with shoppers or is seen as too pricey, outside of sales events.CEO Brian Cornell said Target is putting value front and center as it fights to get back to growth.""We want to make sure America knows that Target's a great place to shop and we have great value every time you engage whether it's in-store or through our digital channels,"" he said, adding the company is on track to reverse sales declines in the second quarter.When Target cuts prices, customers have noticed and responded, Hennington said on the earnings call. For example, it noticed it didn't have low-priced tech accessories that customers wanted, such as charging cables and phone cases, she said.Those items became part of Dealworthy, a new private brand launched in February that offers Target's lowest prices on basic items like laundry detergent and paper plates.""When we introduced the right price points in Dealworthy, the guests noticed immediately and that drove unit and traffic acceleration in those categories and that's what we're doing business by business,"" she said.It'll soon run a similar play with seasonal items, she said. After Target ""took a hard look at some of the most popular products from last year's summer assortment,"" customers can expect to see cheaper pool noodles, floats and coolers.— CNBC's Amelia Lucas contributed to this report.",CNBC,22/05/2024,"[""Target's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters."", 'The discounter is not alone.', ""Target's first-quarter results on Wednesday not only show American consumers are more selective about spending in the face of sustained inflation that has squeezed their budgets for nearly three years."", ""The company's declining sales also illustrate how the battle for shoppers' wallets has heated up as retailers — and even some restaurants — race to outmatch each other on low prices."", 'Walmart said last week that its grocery ""rollbacks,"" short-term deals on specific items, were up 45% year over year in April.', 'The discounter also introduced a new premium grocery brand with most items under $5.Elsewhere, Aldi dropped prices earlier this month on more than 250 items, including chicken, steak, granola bars and frozen blueberries.', ""And even McDonald's is debuting a limited-time $5 value meal in late June as some diners scoff at the price of fast food."", 'Target made its move on Monday, saying it has already reduced prices on about 1,500 items and plans to cut prices on thousands more this summer.', 'Many of those items are staples such as milk, peanut butter and diapers.', 'Multiple major grocers and restaurants cutting prices or offering deals could offer relief at the checkout, at a time when consumer prices are still climbing more than 3% from last year.', 'It could also give the Federal Reserve more confidence to cut interest rates.', 'Even so, the revenue lost from lower prices could force businesses to cut back elsewhere — potentially on labor costs.', ""Analysts on Target's earnings call on Wednesday asked about the timing and reasoning behind the price cuts and whether the retailer or its vendors are picking up the tab."", ""The company declined to share details of that split, but Chief Growth Officer Christina Hennington said Target's vendors know the company is committed to passing on savings to its customers to drive traffic."", 'Some businesses have held on to customers even with the same or higher prices: Chipotle and Sweetgreen, for example, have bucked the consumer slowdown.', ""Target's earnings report revealed at least part of the reason why it is joining the race to cut prices."", 'Sales of discretionary merchandise, such as clothing, dropped year over year.', 'But so did sales of higher frequency items like groceries and paper towels.', 'Some customers may be making those purchases at Walmart instead.', ""Transactions on Walmart's website and stores rose 3.8% in the most recent quarter, and its e-commerce purchases shot up by 22% in the U.S., the company reported last week."", 'In an interview with CNBC, Walmart finance chief John David Rainey said the retail giant is gaining share from higher-income households.', 'He added some consumers are coming to its stores for meals because of sticker shock at fast-food chains.', '""We\'ve got customers that are coming to us more frequently than they have before and newer customers that we haven\'t traditionally had,"" he said.', ""On Target's earnings call, analysts asked tough questions about whether the retailer is losing ground with shoppers or is seen as too pricey, outside of sales events."", 'CEO Brian Cornell said Target is putting value front and center as it fights to get back to growth.', '""We want to make sureAmericaknows that Target\'s a great place to shop and we have great value every time you engage whether it\'s in-store or through our digital channels,"" he said, adding the company is on track to reverse sales declines in the second quarter.', 'When Target cuts prices, customers have noticed and responded, Hennington said on the earnings call.', ""For example, it noticed it didn't have low-priced tech accessories that customers wanted, such as charging cables and phone cases, she said."", ""Those items became part of Dealworthy, a new private brand launched in February that offers Target's lowest prices on basic items like laundry detergent and paper plates."", '""When we introduced the right price points in Dealworthy, the guests noticed immediately and that drove unit and traffic acceleration in those categories and that\'s what we\'re doing business by business,"" she said.', ""It'll soon run a similar play with seasonal items, she said."", 'After Target ""took a hard look at some of the most popular products from last year\'s summer assortment,"" customers can expect to see cheaper pool noodles, floats and coolers.—', ""CNBC's Amelia Lucas contributed to this report.""]",0.0450573626859338,"""We want to make sureAmericaknows that Target's a great place to shop and we have great value every time you engage whether it's in-store or through our digital channels,"" he said, adding the company is on track to reverse sales declines in the second quarter.","Even so, the revenue lost from lower prices could force businesses to cut back elsewhere — potentially on labor costs.",0.3702837166033293,"Walmart said last week that its grocery ""rollbacks,"" short-term deals on specific items, were up 45% year over year in April.",Target's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters.,2024-05-23
+Are consumers pulling back on spending? It depends on which CEO you ask,https://www.cnbc.com/2024/05/20/consumer-pullback-ceos.html,2024-05-20T17:30:25+0000,"In this articleWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren't.The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald's, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending. Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.The takeaway? Consumers have become more selective about how and where they spend their dollars.""Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,"" McDonald's CEO Chris Kempczinski said on the company's conference call in late April.For more than two years, consumers have dealt with sharply rising prices. This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches, thanks to stabilizing commodity prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch.The consumer price index rose 3.4% over the last 12 months through April, according to Department of Labor data. On Tuesday, a day before the monthly CPI report, Federal Reserve Chair Jerome Powell reiterated that inflation is falling more slowly than expected, which likely means the central bank won't be cutting interest rates anytime soon.Making matters worse, many consumers have run through the savings they accumulated during the pandemic when they were collecting stimulus checks in place of traveling. Instead, many are paying their everyday bills with credit cards as they face higher costs for gas, rent and groceries. The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.Aurelia Concepcion, 57, a case manager in New York, said she is planning only essential travel this year, drawing the line at visiting family in Georgia and Ohio.""Everything is too high ... taxis, rent."" Concepcion says she avoids restaurants: ""It's too expensive. I'd rather prepare my own food.""Concepcion isn't the only consumer changing spending habits. Executives have been warning about a more cautious spending environment for awhile. But it's finally starting to show up in some companies' quarterly results.KFC, Pizza Hut and Starbucks were among the restaurant companies that reported declining same-store sales in the most recent quarter. Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said. And Apple iPhone sales fell 10% in the tech company's latest quarter, suggesting consumers weren't upgrading to the latest version of the smartphone in the patterns that they have in the past.""Some of the things that have seen the biggest run-up in prices over the last few years are items that confront people on a daily basis: the cost of eating out, the cost of groceries and the costs of fuel and gasoline and rents,"" said Columbia Business School economics professor Brett House. ""Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that.""Big-box giant Walmart said last Thursday that shoppers are prioritizing buying food and health-related items over general merchandise, like home goods and electronics. The retailer has reported that trend for several quarters now. Finance chief John David Rainey told CNBC that Walmart's grocery business has gotten a boost from the widening gap between restaurant prices and the cost of cooking at home. Lower-income consumers are struggling more than other demographics. They couldn't save as much during the pandemic, and evidence suggests that they've exhausted those savings, according to House. On top of that, rent prices have surged, and low-income consumers are more likely to rent than own.PepsiCo, for one, particularly called out a weaker low-income consumer. The Gatorade owner saw volume for its North American beverage business fall 5% in the quarter.""The lower-income consumer in the U.S. is stretched ... [and] is strategizing a lot to make their budgets get to the end of the month,"" CEO Ramon Laguarta told analysts on the company's conference call in April.Pepsi is leaning into promotions and discounts to lure back the low-income shopper. Other companies are similarly hoping deals will attract more customers. McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending.""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Ed Bastian, CEO of Delta Air Lines, the most profitable U.S. carrier, said in an interview in April.Delta and its rival United last month each forecast earnings ahead of analysts' estimates for the second quarter. Both carriers offer sprawling global networks and have benefited from a rebound in international travel in the wake of the pandemic, particularly to Europe and popular destinations in Asia for U.S. travelers like Japan. Both carriers have predicted record summer travel demand.Those airline trends align with a broader consumer shift that started after pandemic lockdowns: spending more money on experiences rather than apparel or electronics.""We're still spending disproportionately on activities and services rather than on goods,"" House said.Delta and United are also capitalizing on travelers who have been willing to pay up for more expensive seats, like first class or premium economy. U.S. airlines have been racing to add more high-priced seating to their planes and grow lounges for top spenders. Inflation hasn't hurt high-income consumers as much as it has the budget-conscious, giving them more room to spend.Higher-income consumers have also bolstered fast-casual restaurant chains, like Chipotle, that come in at a slightly higher price point than the cheapest options. The burrito chain's same-store sales grew 7% during the first quarter, fueled by a 5.4% increase in foot traffic. Chipotle has a strong perception of value among diners, CEO Brian Niccol said on the company's conference call. Executives have also previously emphasized that most of its customers come from higher-income brackets.Even Walmart have been attracting consumers with deeper pockets. As customers pay more for groceries, the discounter has attracted more affluent customers and stolen market share from rivals like Target, which has historically been more popular with wealthier shoppers. The company also credited its remodeled stores and expanded merchandise on its website for appealing to households that have a more than $100,000 annual income. Target is scheduled to report quarterly earnings on Wednesday. Not all companies with higher-income customer bases have seen the same strong demand, however. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.For example, athleisure brand Lululemon's U.S. sales lagged in its most recent quarter, which CEO Calvin McDonald attributed in part to a shortage in key product sizes and not enough colorful items.Then there's Starbucks, which has always positioned itself as a premium coffee brand. The coffee giant announced a surprise decline in its U.S. same-store sales and lowered its full-year forecast, sending its shares tumbling. While CEO Laxman Narasimhan gave a laundry list of factors explaining the weak quarter, including a more value-minded consumer, Bank of America analyst Sara Senatore wrote in a research note that a social media boycott might still be the primary culprit.And Peloton's latest report was the latest in a string of disappointing results for the company. Earlier this month, the pandemic darling fired its chief executive and announced plans to lay off 15% of its staff as fewer consumers bought its pricey equipment or its much cheaper fitness subscriptions in its latest fiscal quarter.""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton's trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.— CNBC's Melissa Repko and Gabrielle Fonrouge contributed reporting to this story.",CNBC,20/05/2024,"['In this articleWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers.', ""But Big Macs and kitchen remodels aren't."", ""The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald's, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending."", 'Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.', 'The takeaway?', 'Consumers have become more selective about how and where they spend their dollars.', '""Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,"" McDonald\'s CEO Chris Kempczinski said on the company\'s conference call in late April.', 'For more than two years, consumers have dealt with sharply rising prices.', 'This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches, thanks to stabilizing commodity prices.', ""But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch."", 'The consumer price index rose 3.4% over the last 12 months through April, according to Department of Labor data.', ""On Tuesday, a day before the monthly CPI report, Federal Reserve Chair Jerome Powell reiterated that inflation is falling more slowly than expected, which likely means the central bank won't be cutting interest rates anytime soon."", 'Making matters worse, many consumers have run through the savings they accumulated during the pandemic when they were collecting stimulus checks in place of traveling.', 'Instead, many are paying their everyday bills with credit cards as they face higher costs for gas, rent and groceries.', 'The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.', 'Aurelia Concepcion, 57, a case manager in New York, said she is planning only essential travel this year, drawing the line at visiting family in Georgia and Ohio.', '""Everything is too high ... taxis, rent.""', 'Concepcion says she avoids restaurants: ""It\'s too expensive.', ""I'd rather prepare my own food."", '""Concepcion isn\'t the only consumer changing spending habits.', 'Executives have been warning about a more cautious spending environment for awhile.', ""But it's finally starting to show up in some companies' quarterly results."", 'KFC, Pizza Hut and Starbucks were among the restaurant companies that reported declining same-store sales in the most recent quarter.', ""Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said."", ""And Apple iPhone sales fell 10% in the tech company's latest quarter, suggesting consumers weren't upgrading to the latest version of the smartphone in the patterns that they have in the past."", '""Some of the things that have seen the biggest run-up in prices over the last few years are items that confront people on a daily basis: the cost of eating out, the cost of groceries and the costs of fuel and gasoline and rents,"" said Columbia Business School economics professor Brett House. ""', 'Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that.', '""Big-box giant Walmart said last Thursday that shoppers are prioritizing buying food and health-related items over general merchandise, like home goods and electronics.', 'The retailer has reported that trend for several quarters now.', ""Finance chief John David Rainey told CNBC that Walmart's grocery business has gotten a boost from the widening gap between restaurant prices and the cost of cooking at home."", 'Lower-income consumers are struggling more than other demographics.', ""They couldn't save as much during the pandemic, and evidence suggests that they've exhausted those savings, according to House."", 'On top of that, rent prices have surged, and low-income consumers are more likely to rent than own.', 'PepsiCo, for one, particularly called out a weaker low-income consumer.', 'The Gatorade owner saw volume for its North American beverage business fall 5% in the quarter.', '""The lower-income consumer in the U.S. is stretched ... [and] is strategizing a lot to make their budgets get to the end of the month,"" CEO Ramon Laguarta told analysts on the company\'s conference call in April.', 'Pepsi is leaning into promotions and discounts to lure back the low-income shopper.', 'Other companies are similarly hoping deals will attract more customers.', ""McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending."", '""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Ed Bastian, CEO of Delta Air Lines, the most profitable U.S. carrier, said in an interview in April.', ""Delta and its rival United last month each forecast earnings ahead of analysts' estimates for the second quarter."", 'Both carriers offer sprawling global networks and have benefited from a rebound in international travel in the wake of the pandemic, particularly to Europe and popular destinations in Asia for U.S. travelers like Japan.', 'Both carriers have predicted record summer travel demand.', 'Those airline trends align with a broader consumer shift that started after pandemic lockdowns: spending more money on experiences rather than apparel or electronics.', '""We\'re still spending disproportionately on activities and services rather than on goods,"" House said.', 'Delta and United are also capitalizing on travelers who have been willing to pay up for more expensive seats, like first class or premium economy.', 'U.S. airlines have been racing to add more high-priced seating to their planes and grow lounges for top spenders.', ""Inflation hasn't hurt high-income consumers as much as it has the budget-conscious, giving them more room to spend."", 'Higher-income consumers have also bolstered fast-casual restaurant chains, like Chipotle, that come in at a slightly higher price point than the cheapest options.', ""The burrito chain's same-store sales grew7% during the first quarter, fueled by a 5.4% increase in foot traffic."", ""Chipotle has a strong perception of value among diners, CEO Brian Niccol said on the company's conference call."", 'Executives have also previously emphasized that most of its customers come from higher-income brackets.', 'Even Walmart have beenattracting consumers with deeper pockets.', 'As customers pay more for groceries, the discounterhasattracted moreaffluent customers and stolen market share from rivalslikeTarget, which has historically been more popular with wealthier shoppers.', 'The company also credited its remodeled stores and expanded merchandise on its website for appealing to households that have a more than $100,000 annual income.', 'Target is scheduled to report quarterly earnings on Wednesday.', 'Not all companies with higher-income customer bases have seen the same strong demand, however.', ""Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending."", ""For example, athleisure brand Lululemon's U.S. sales lagged in its most recent quarter, which CEO Calvin McDonald attributed in part to a shortage in key product sizes and not enough colorful items."", ""Then there's Starbucks, which has always positioned itself as a premium coffee brand."", 'The coffee giant announced a surprise decline in its U.S. same-store sales and lowered its full-year forecast, sending its shares tumbling.', 'While CEO Laxman Narasimhan gave a laundry list of factors explaining the weak quarter, including a more value-minded consumer, Bank of America analyst Sara Senatore wrote in a research note that a social media boycott might still be the primary culprit.', ""And Peloton's latest report was the latest in a string of disappointing results for the company."", 'Earlier this month, the pandemic darling fired its chief executive and announced plans to lay off 15% of its staff as fewer consumers bought its pricey equipment or its much cheaper fitness subscriptions in its latest fiscal quarter.', '""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton\'s trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.—', ""CNBC's Melissa Repko and Gabrielle Fonrouge contributed reporting to this story.""]",0.0637336559460311,"McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending.","""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton's trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.—",-0.0166200759510199,"The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.","Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said.",2024-05-23
+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.",2024-05-23
+"Lowe's beats on earnings and revenue, even as consumers spend less on DIY projects",https://www.cnbc.com/2024/05/21/lowes-low-q1-2024-earnings.html,2024-05-21T17:51:56+0000,"In this articleLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items.The home improvement retailer's results echoed those of Home Depot last week. Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.Lowe's stuck by its full-year forecast. It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023. It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30.In an interview with CNBC, Marvin Ellison said a mix of factors have kept consumers from spending more freely, including pressure from inflation and uncertainty around when the Federal Reserve may cut interest rates.""Interest rates can go down, but you still need consumer confidence come up,"" he said.He said Lowe's held off on raising its full-year outlook as it awaits some of its biggest sales days. Spring is the holiday season for home improvement.Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier.Sales dropped from $22.35 billion in the year-ago period. It marked the fifth quarter in a row that Lowe's posted a year-over-year sales decline.Shoppers visited Lowe's stores and website less, as homeowners put off larger projects and bought fewer pricey items. Transactions dropped 3.1% and average ticket dropped 1% year over year, Ellison said.He told CNBC that customers have been buying fewer discretionary items, such as outdoor grills and patio sets, and taking on fewer projects like kitchen remodels.Compared with Home Depot, Lowe's draws less of its business from painters, contractors and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back. Roughly half of Home Depot's sales come from pros compared with about 20% to 25% at Lowe's.Yet Lowe's has been trying to win business from more of those pros. Gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending.Comparable sales for the quarter decreased 6.2%. For pro customers, however, comparable sales were flat for the quarter.Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline. At the time, Ellison warned investors that the retailer expected ""a pullback in discretionary consumer spending over the near term.""For each of the three quarters since then, Lowe's sales have also dropped from the year-ago periods.Shares of Lowe's closed Monday at $229.17, bringing the company's market value to $131.13 billion. As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.",CNBC,21/05/2024,"[""In this articleLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items."", ""The home improvement retailer's results echoed those of Home Depot last week."", 'Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.', ""Lowe's stuck by its full-year forecast."", 'It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023.', 'It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30.In an interview with CNBC, Marvin Ellison said a mix of factors have kept consumers from spending more freely, including pressure from inflation and uncertainty around when the Federal Reserve may cut interest rates.', '""Interest rates can go down, but you still need consumer confidence come up,"" he said.', ""He said Lowe's held off on raising its full-year outlook as it awaits some of its biggest sales days."", 'Spring is the holiday season for home improvement.', ""Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier."", 'Sales dropped from $22.35 billion in the year-ago period.', ""It marked the fifth quarter in a row that Lowe's posted a year-over-year sales decline."", ""Shoppers visited Lowe's stores and website less, as homeowners put off larger projects and bought fewer pricey items."", 'Transactions dropped 3.1% and average ticket dropped 1% year over year, Ellison said.', 'He told CNBC that customers have been buying fewer discretionary items, such as outdoor grills and patio sets, and taking on fewer projects like kitchen remodels.', ""Compared with Home Depot, Lowe's draws less of its business from painters, contractors and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back."", ""Roughly half of Home Depot's sales come from pros compared with about 20% to 25% at Lowe's."", ""Yet Lowe's has been trying to win business from more of those pros."", 'Gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending.', 'Comparable sales for the quarter decreased 6.2%.', 'For pro customers, however, comparable sales were flat for the quarter.', ""Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline."", 'At the time, Ellison warned investors that the retailer expected ""a pullback in discretionary consumer spending over the near term.', '""For each of the three quarters since then, Lowe\'s sales have also dropped from the year-ago periods.', ""Shares of Lowe's closed Monday at $229.17, bringing the company's market value to $131.13 billion."", ""As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.""]",0.2006188480062568,"""Interest rates can go down, but you still need consumer confidence come up,"" he said.","Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.",-0.303969019651413,"As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.",Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline.,2024-05-23
+Here's where rents are rising — and where they're falling,https://www.cnbc.com/2024/05/21/where-rents-are-rising.html,2024-05-21T18:27:06+0000,"Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.Now different drivers are pushing some rents higher — and throwing cold water on others.Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List. Rents cooled because a massive amount of new supply entered the market, with still more in the pipeline.Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small. Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain. The national median rent in April was $1,396.""This is typically the time of year when rent growth is accelerating heading into the busy moving season, so the fact that growth stalled this month could be a sign that the market is headed for another slow summer,"" according to the Apartment List report.Apartment vacancies are also climbing, hitting 6.7% as of March, marking the highest reading since August 2020. New multifamily building permits are slowing down, but the number of units currently under construction is near a record high, and last year saw the most new apartments hit the market in over 30 years.Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic. That annual increase, however, continues to shrink as more supply comes onto the market from build-for-rent companies.Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023, according to an analysis of Census data by the National Association of Home Builders. Over the last four quarters, 80,000 such homes began construction, representing a nearly 16% jump from the prior four quarters.""U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers,"" said Molly Boesel, principal economist for CoreLogic. ""Overbuilt areas, such as Austin, Texas, continued to soften, decreasing by 3.5% annually in March.""The continued strength overall in single-family rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives, according to Boesel. Mortgage rates have risen back into the 7% range, and home prices continue to rise, making it harder to buy a home.Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%. Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.""The decrease in the attached segment is being driven by a subset of markets, mostly in Florida, but including Austin and New Orleans. As multifamily apartments are being completed, some markets are gaining rental supply, which competes with the attached segment of the single-family rental market,"" Boesel added.",CNBC,21/05/2024,"['Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.', 'Now different drivers are pushing some rents higher — and throwing cold water on others.', 'Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List.', 'Rents cooled because a massive amount of new supply entered the market, with still more in the pipeline.', 'Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small.', ""Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain."", 'The national median rent in April was $1,396.""This is typically the time of year when rent growth is accelerating heading into the busy moving season, so the fact that growth stalled this month could be a sign that the market is headed for another slow summer,"" according to the Apartment List report.', 'Apartment vacancies are also climbing, hitting 6.7% as of March, marking the highest reading since August 2020.', 'New multifamily building permits are slowing down, but the number of units currently under construction is near a record high, and last year saw the most new apartments hit the market in over 30 years.', 'Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic.', 'That annual increase, however, continues to shrink as more supply comes onto the market from build-for-rent companies.', 'Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023, according to an analysis of Census data by the National Association of Home Builders.', 'Over the last four quarters, 80,000 such homes began construction, representing a nearly 16% jump from the prior four quarters.', '""U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers,"" said Molly Boesel, principal economist for CoreLogic. ""', 'Overbuilt areas, such as Austin, Texas, continued to soften, decreasing by 3.5% annually in March.', '""The continued strength overall in single-family rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives, according to Boesel.', 'Mortgage rates have risen back into the 7% range, and home prices continue to rise, making it harder to buy a home.', ""Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%."", 'Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.', '""The decrease in the attached segment is being driven by a subset of markets, mostly in Florida, but including Austin and New Orleans.', 'As multifamily apartments are being completed, some markets are gaining rental supply, which competes with the attached segment of the single-family rental market,"" Boesel added.']",0.2372042158816055,"Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain.","Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List.",0.1080934524536132,"Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic.","Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.",2024-05-23
+Peloton shares drop after it announces refinancing to stave off cash crunch,https://www.cnbc.com/2024/05/20/peloton-shares-plunge-after-refinancing.html,2024-05-20T21:55:22+0000,"In this articlePeloton shares plunged on Monday after the connected fitness company said it is launching a ""global refinancing,"" as it looks to stave off a cash crunch amid falling sales. The company is offering $275 million in convertible senior notes due 2029 in a private offering and plans to enter into a $1 billion five-year term loan and $100 million revolving credit facility. Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan. Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground. Last month, Peloton announced that its CEO Barry McCarthy was stepping down and said it planned to lay off 15% of its workforce because it ""simply had no other way to bring its spending in line with its revenue.""The restructuring was designed to improve Peloton's cash position as demand for its connected fitness products continues to fall. The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan. It said it is working closely with its lenders at JPMorgan and Goldman Sachs on a ""refinancing strategy.""""Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital,"" the company said. ""We are encouraged by the support and inbound interest from our existing lenders and investors and we look forward to sharing more about this topic.""",CNBC,20/05/2024,"['In this articlePeloton shares plunged on Monday after the connected fitness company said it is launching a ""global refinancing,"" as it looks to stave off a cash crunch amid falling sales.', 'The company is offering $275 million in convertible senior notes due 2029 in a private offering and plans to enter into a $1 billion five-year term loan and $100 million revolving credit facility.', 'Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan.', 'Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground.', 'Last month, Peloton announced that its CEO Barry McCarthy was stepping down and said it planned to lay off 15% of its workforce because it ""simply had no other way to bring its spending in line with its revenue.', '""The restructuring was designed to improve Peloton\'s cash position as demand for its connected fitness products continues to fall.', 'The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.', 'In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan.', 'It said it is working closely with its lenders at JPMorgan and Goldman Sachson a ""refinancing strategy.', '""""Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital,"" the company said. ""', 'We are encouraged by the support and inbound interest from our existing lenders and investors and we look forward to sharing more about this topic.""']",0.2533256277869251,"The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.","In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan.",0.1452564001083374,"The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.","Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground.",2024-05-23
+"Daily marijuana use surpasses alcohol consumption, new study finds. Here's what it means for the booze business",https://www.cnbc.com/2024/05/23/daily-marijuana-use-surpasses-alcohol-consumption-new-study-finds.html,2024-05-23T19:15:16+0000,"Americans are reaching for buds more than booze.Daily or near-daily marijuana use is now more common than similar levels of drinking in the U.S., according to 40 years of data analyzed by Carnegie Mellon University.The report looks at U.S. data from more than 1.6 million participants collected across 27 surveys between 1979 and 2022.Although alcohol overall remains more widely used, first-time daily marijuana use overtook drinking at the same frequency in 2022, with roughly 17.7 million cannabis users and 14.7 million drinkers.That is a 15-fold increase for cannabis since 1992 when 900,000 Americans disclosed using the drug daily compared with 8.9 million daily drinkers.""We believe — and data clearly indicates — the younger demographic cohort is increasingly accepting cannabis on a daily and monthly use at a higher rate than other generations,"" said Roth MKM analyst Scott Fortune.""As there are indications of consumers substituting away from other pleasure uses (alcohol, tobacco), we think as younger generations grow up with legal cannabis options, the acceptance of cannabis will become more prevalent and substitute away from traditional options,"" he added.This report comes as the cannabis industry is expecting the Drug Enforcement Administration to ease federal restrictions and reclassify marijuana, which would increase access to funding, research and investment opportunities for cannabis-related companies like Tilray, Canopy Growth and Curaleaf.The spirits and alcohol industry, however, has been working to defend its market share despite shifting trends among younger consumers.""From the U.S. alcohol side, the youngest legal drinking-age consumers are turning to alcohol less often, and when they do imbibe, it is fewer drinks,"" said Roth MKM analyst Bill Kirk.Kirk said there have been growing trends that are contributing to that, including more abstinence from drinking, better availability of quality non-alcoholic options and increased cannabis use.""From the cannabis side, we wouldn't say alcohol stands to be necessarily hurt by this trend, but would look for alcohol to partner, invest or acquire into U.S. cannabis when federal regulations allow it to capitalize on anticipated industry growth,"" Fortune said.However, some analysts on Wall Street expect greater impact to the alcohol industry from cannabis adoption.""We estimate that legal cannabis could be negatively impacting beer volume [compound annual growth rate] by up to 230 bps in Canada and 75 bps in the U.S. where legal,"" said Bernstein analyst Nadine Sarwat, referring to basis points (bps). One basis point equals one-hundredth of a percentage point.She added that conflicting state-by-state policies for cannabis soften the blow to the biggest brewers and distillers like Constellation Brands, Diageo, AB InBev and Molson Coors.""Federal legalization has the potential to increase the risk to alcohol, but this appears a long way off in the current political climate,"" Sarwat said.",CNBC,23/05/2024,"['Americans are reaching for buds more than booze.', 'Daily or near-daily marijuana use is now more common than similar levels of drinking in the U.S., according to 40 years of data analyzed by Carnegie Mellon University.', 'The report looks at U.S. data from more than 1.6 million participants collected across 27 surveys between 1979 and 2022.Although alcohol overall remains more widely used, first-time daily marijuana use overtook drinking at the same frequency in 2022, with roughly 17.7 million cannabis users and 14.7 million drinkers.', 'That is a 15-fold increase for cannabis since 1992 when 900,000 Americans disclosed using the drug daily compared with 8.9 million daily drinkers.', '""We believe — and data clearly indicates — the younger demographic cohort is increasingly accepting cannabis on a daily and monthly use at a higher rate than other generations,"" said Roth MKM analystScott Fortune.', '""As there are indications of consumers substituting away from other pleasure uses (alcohol, tobacco), we think as younger generations grow up with legal cannabis options, the acceptance of cannabis will become more prevalent and substitute away from traditional options,"" he added.', 'This report comes as the cannabis industry is expecting the Drug Enforcement Administration to ease federal restrictions and reclassify marijuana, which would increase access to funding, research and investment opportunities for cannabis-related companies like Tilray, Canopy Growth and Curaleaf.', 'The spirits and alcohol industry, however, has been working to defend its market share despite shifting trends among younger consumers.', '""From the U.S. alcohol side, the youngest legal drinking-age consumers are turning to alcohol less often, and when they do imbibe, it is fewer drinks,"" said Roth MKM analyst Bill Kirk.', 'Kirk said there have been growing trends that are contributing to that, including more abstinence from drinking, better availability of quality non-alcoholic options and increased cannabis use.', '""From the cannabis side, we wouldn\'t say alcohol stands to be necessarily hurt by this trend, but would look for alcohol to partner, invest or acquire into U.S. cannabis when federal regulations allow it to capitalize on anticipated industry growth,"" Fortune said.', 'However, some analysts on Wall Street expect greater impact to the alcohol industry from cannabis adoption.', '""We estimate that legal cannabis could be negatively impacting beer volume [compound annual growth rate] by up to 230 bps in Canada and 75 bps in the U.S. where legal,"" said Bernstein analyst Nadine Sarwat, referring to basis points (bps).', 'One basis point equals one-hundredth of a percentage point.', 'She added that conflicting state-by-state policies for cannabis soften the blow to the biggest brewers and distillers like Constellation Brands, Diageo, AB InBev and Molson Coors.', '""Federal legalization has the potential to increase the risk to alcohol, but this appears a long way off in the current political climate,"" Sarwat said.']",0.3385642761353466,"This report comes as the cannabis industry is expecting the Drug Enforcement Administration to ease federal restrictions and reclassify marijuana, which would increase access to funding, research and investment opportunities for cannabis-related companies like Tilray, Canopy Growth and Curaleaf.",,0.4357439225370234,"That is a 15-fold increase for cannabis since 1992 when 900,000 Americans disclosed using the drug daily compared with 8.9 million daily drinkers.","""Federal legalization has the potential to increase the risk to alcohol, but this appears a long way off in the current political climate,"" Sarwat said.",2024-05-23
+Boeing on track to meet FAA deadline to present quality control fixes,https://edition.cnn.com/2024/05/23/business/boeing-fixes-faa-deadline/index.html,"
+  Published
+        2:31 PM EDT, Thu May 23, 2024
+    ","Boeing will present its plan to fix quality problems with its assembly line to US regulators next week, the company said Thursday.
+    
+            The plan was ordered up by the Federal Aviation Administration in late February after a hole blew open in the side of an airborne 737 Max a month earlier. The FAA said it audited the production line at Boeing and its key 737 Max supplier and found “multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements.” It gave Boeing 90 days to present a plan — and that deadline is next week.
+    
+            Boeing chief financial officer Brian West said Thursday that Boeing and the FAA have had “lots of dialogue” including two check-ins during the preparation of the plan.
+    
+            “The engagement is constructive,” he said at a conference organized by Wolfe Research on Thursday. “I expect next week we’re going to get some good feedback.”
+    
+            FAA Administrator Mike Whitaker said separately on Thursday that the plan is “not the end of the process, it’s the beginning.”
+    
+            “It’s going to be a long road to get back to where they need to be making safe airplanes,” Whitaker said in an interview on ABC News.
+    
+            West said he agreed that presentation of the plan is “not a finish line,” and that safety work at Boeing is currently focused on three areas: Training, “simplification of our work instructions” and tools.
+    
+            “Our objective is to make sure the mechanic is fully prepared to do the work as intended,” West said. “Those are basic, but they are important basics that we have a lot of people working very hard to make sure that we achieve improvements across the board in those areas.”
+    
+            West also acknowledged the complaints of some airline executives about Boeing’s quality and delays due to the production issues.
+    
+            “We have frustrated and disappointed our customers because of some of the production supply chain issues that we’re up against,” West said. “And while I understand that frustration, the most important thing we can do for our customers and the supply chain in this industry is to focus on the actions that are underway as we speak.”
+    
+            He said Boeing still plans to purchase the key supplier, Spirit AeroSystems, and that Spirit is currently sorting out how to split off work it does for other companies like Boeing’s chief competitor, Airbus.",CNN,23/05/2024,"['Boeing will present its plan to fix quality problems with its assembly line to US regulators next week, the company said Thursday.', 'The plan was ordered up by the Federal Aviation Administration in late February after a hole blew open in the side of an airborne 737 Maxa month earlier.', 'The FAA said it audited the production line at Boeing and its key 737 Max supplier and found “multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements.', '”It gave Boeing 90 days to present a plan — and that deadline is next week.', 'Boeing chief financial officer Brian West said Thursday that Boeing and the FAA have had “lots of dialogue” including two check-ins during the preparation of the plan.', '“The engagement is constructive,” he said at a conference organized by Wolfe Research on Thursday. “', 'I expect next week we’re going to get some good feedback.”', 'FAA Administrator Mike Whitaker said separately on Thursday that the plan is “not the end of the process, it’s the beginning.”', '“It’s going to be a long road to get back to where they need to be making safe airplanes,” Whitaker said in an interview on ABC News.', 'West said he agreed that presentation of the plan is “not a finish line,” and that safety work at Boeing is currently focused on three areas:Training, “simplification of our work instructions” and tools.', '“Our objective is to make sure the mechanic is fully prepared to do the work as intended,” West said. “', 'Those are basic, but they are important basics that we have a lot of people working very hard to make sure that we achieve improvements across the board in those areas.”', 'West also acknowledged the complaints of some airline executives about Boeing’s quality and delays due to the production issues.', '“We have frustrated and disappointed our customers because of some of the production supply chain issues that we’re up against,” West said. “', 'And while I understand that frustration, the most important thing we can do for our customers and the supply chain in this industry is to focus on the actions that are underway as we speak.”', 'He said Boeing still plans to purchase the key supplier, Spirit AeroSystems, and that Spirit is currently sorting out how to split off work it does for other companies like Boeing’s chief competitor, Airbus.']",0.1023655233392068,"West said he agreed that presentation of the plan is “not a finish line,” and that safety work at Boeing is currently focused on three areas:Training, “simplification of our work instructions” and tools.","“We have frustrated and disappointed our customers because of some of the production supply chain issues that we’re up against,” West said. “",0.0307223399480183,"“The engagement is constructive,” he said at a conference organized by Wolfe Research on Thursday. “","“We have frustrated and disappointed our customers because of some of the production supply chain issues that we’re up against,” West said. “",2024-05-23
+Retailers use police-like investigation centers to fight theft. Shoppers pay the price,https://edition.cnn.com/business/retailers-crackdown-organized-crime-invs/index.html,"
+  Published
+        7:00 AM EDT, Thu May 23, 2024
+    ","When SWAT officers swarmed a house in a sleepy San Jose, California neighborhood last month, they found what could best be described as a make-shift hardware store inside: Shelves lined with boxes of brand-new tools, bathroom fixtures and spools of industrial wiring.
+    
+            It resembled a mini Home Depot. And in some ways, it was.
+    
+            Much of the cache of products—worth about $150,000—had been stolen from real Home Depot stores. The retail chain’s internal security force spent months investigating the thefts, scanning security camera footage, tracking license plates and surveilling suspects. They connected dots of the criminal network allegedly responsible and shared their findings with the Santa Clara County Sheriff’s Office, which executed search warrants and arrested the suspects.
+    
+            Increasingly, this is how it goes today for retailers trying to battle theft and fraud by organized crime rings. A CNN review of court records and interviews with more than two dozen retail and law enforcement officials shows that persistent problems with sophisticated organized crime networks have led many private-sector companies to not only assist law enforcement but to often deliver the bulk of the evidence that leads to criminal prosecutions.
+    
+            Anyone who has shopped at retail stores in recent years has encountered everyday products like laundry detergent, medication and beauty supplies locked up behind metal gates or plexiglass. Retailers say those in-store security measures are emblematic of the ongoing threat of organized retail crime, which typically involves groups of low-level thieves who steal items for middlemen who in turn sell to unsuspecting customers hunting for deals on marketplaces such as Amazon or eBay.
+    
+            Efforts to counter this crime, however, have come with some costs. Security investments can translate into higher prices for consumers, and civil liberties advocates argue the surveillance technology used by retailers can infringe on individuals’ privacy.
+    
+            While retailers have long partnered with law enforcement, the industry has bolstered its role in recent years, devoting more staff and financial resources to thwarting theft. Some retailers are researching body-worn cameras for employees. Others, including Home Depot, have invested in police-like investigation centers to sift through data and pinpoint theft-group members.
+    
+            “A lot of times, local and state resources don’t have the capacity to investigate these crimes at that scale,” said Sean Browne, senior manager of asset protection for Home Depot. Browne said Home Depot, which has nearly tripled its investigative team since 2016,  has started using license-plate readers in some store parking lots. “We try to full-service the investigations and ensure we cut off the head of the snake.”
+    
+            Where law enforcement agencies sometimes face jurisdictional limits to their investigations, retailers can track cases across state and county lines with increasingly sophisticated tools – such as artificial intelligence that identifies patterns – and choose agencies with which to share cases.
+    
+            “Retailers themselves are really taking the ball and running with it and then partnering with law enforcement at all levels,” said David Johnston, vice president of asset protection for the National Retail Federation (NRF), a top lobbying group for the retail industry. NRF surveys of retailers last year found that more than half reported budget increases to combat organized retail crime.
+    
+            Precise national data on organized retail crime is lacking. Last year, NRF even retracted a claim in one of its reports related to the scale of the crime, which led critics to charge that the industry had exaggerated the issue to achieve policy goals or justify store closures caused by underperformance.
+    
+            Still, most retailers insist they have seen an uptick in organized theft. About 90% of asset-protection professionals surveyed last year by NRF said the crime had become more of a risk over the prior three years.
+    
+            “These investments wouldn’t be made for no reason,” said Browne of Home Depot, which has also added security to stores like locks, gates, cameras and other tech to deter theft. “Unfortunately, this creates an environment for our customers that isn’t very friendly,” he said.
+    
+            The industry’s push to crack down on organized retail crime comes amidst differing policies and law enforcement priorities across the nation. Some states have focused on tackling such theft, with more than a dozen launching organized retail crime taskforces, which collaborate with private companies and police.
+    
+            Investigators for the attorney general of Washington state, which created an organized retail crime unit last year, specifically credited businesses Target and Ulta Beauty for gathering much of the evidence behind two felony cases, according to probable-cause affidavits. That material included loss prevention reports, security footage and photographs.
+    
+            In the case involving Ulta Beauty, a company investigator identified the defendant and accomplices who allegedly stole products across six counties, according to an affidavit.
+    
+            “We can’t bring the cases without them,” Washington state Attorney General Bob Ferguson said when asked by CNN about the role of retailers. “Everything you’re seeing in those probable-cause statements is what you would see in case after case after case as we go forward with this work.”
+    
+            Ferguson said organized retail crime cases are inherently complex to investigate and prosecute, especially for local agencies with limited resources, so public-private partnerships are a necessity.
+    
+            That was evident in the case of Linda Ann Been, an Oklahoma woman sentenced to more than five years in prison earlier this month for managing an organized theft ring that federal prosecutors say stole about $9 million in property from retailers.
+    
+            The case largely began with an investigator for CVS who noticed a trend of thefts at his company’s stores in the Tulsa area, according to a state affidavit. He then used records to link low-level thieves who physically robbed the stores with Been and shared his findings with a local detective.
+    
+            The investigation later revealed how Been had provided the thieves with lists of items to steal from businesses across multiple states. The items were organized at a warehouse and boutique clothing shop in a suburb of Tulsa and sold by Been to other sellers – known as “fences” – outside of Oklahoma who in turn sold the products through websites, including eBay and Amazon, to customers, documents show.
+    
+            In a brief interview with CNN prior to her sentencing, Been questioned why those higher-level fences to whom she sold products appear not to have faced consequences. “How come … nothing happened to those people?” she asked.
+    
+            In her guilty plea in 2022, Been specifically named one such fence to whom she “frequently sent stolen inventory” as a man named Baruch “Butch” Treff.
+    
+            Treff, in an interview with CNN, acknowledged buying products from Been, whom he said other vendors had recommended, but insisted he had no idea she had traded in stolen goods.
+    
+            “If I knew I would never have bought from her. I don’t deal with stolen goods,” Treff said. An attorney for Treff, Yosef Jacobovitch, added that his client did due diligence and met with Been to try to ensure she was a legitimate vendor. “She fooled him and others,” Jacobovitch said.
+    
+            A government investigator familiar with the case, who was not authorized to speak publicly, said one of the challenges of such cases is determining whether higher-level fences knowingly purchased stolen goods for resale.
+    
+            The case against Been’s organization involved a range of state and federal authorities including Homeland Security Investigations and the IRS, but during a news conference, a federal prosecutor credited retail-industry investigators for contributing and called such collaborations a “force multiplier.”
+    
+            Aside from supplying evidence, retailers sometimes identify broader trends of groups moving from city to city before law enforcement, said Sgt. Patrick Flynn of the Las Vegas Metropolitan Police Department’s organized retail crime unit, which launched last year.
+    
+            Patrick Walsh, an organized-retail-crime manager for grocery chain Kroger, said his company has heavily invested not only in its investigative capacity but also visual deterrents. For example, the company purchased an old police car to drive around parking lots to ward off would-be criminals.
+    
+            Some companies’ efforts have backfired. In December, drugstore chain Rite Aid agreed to a five-year ban on facial recognition technology after the Federal Trade Commission found that the company’s use of the tech led to false shoplifting allegations against customers – especially people of color – who appeared to match entries in a company watchlist. A Rite Aid spokesperson said the company is enhancing its information-security practices and policies.
+    
+            The way retailers have collected evidence for police with such tech has alarmed privacy-rights advocates.
+    
+            “Police are public entities. You can send them a public records request. You can elect a mayor who may want to change the police department. You cannot do that with a giant corporation. You have very little control over what technology they deploy, how they deploy it and then what they do with that data,” said Matthew Guariglia, a senior policy analyst with the Electronic Frontier Foundation, a digital rights group.
+    
+            The threat of organized retail crime and pressure from the industry has led some officials to call on the federal government to do more.
+    
+            Over the last year much of that push has centered on a federal bill, the Combating Organized Retail Crime Act, that would create an intelligence-sharing hub at the Department of Homeland Security and broaden the scope of applicable criminal conduct.
+    
+            San Diego County District Attorney Summer Stephan, a Republican-turned-independent who expressed support for those changes at a congressional hearing in December, referred to limited coordination between law enforcement and retailers and laws that apply relatively light penalties for habitual thieves as “key challenges” in policing the issue.
+    
+            The bill has received criticism. A coalition of civil rights groups that included the ACLU and NAACP argued in a letter in March that the legislation promotes punitive policies that would disproportionately affect marginalized communities and exacerbate poverty by pushing more crime into the federal system. “This enforcement-first response, we don’t think that leads to crime deterrence,” Chloé White, an attorney with one of those groups, the Leadership Conference on Civil and Human Rights, told CNN.
+    
+            The bill has garnered support from a bipartisan group of lawmakers, but it has not advanced.
+    
+            “Everything is stalled in Congress,” said Rep. Dina Titus, a Nevada Democrat who helped introduce the legislation. Reacting to the way private retailers have been growing their internal investigative efforts, Titus said, “That’s the reason we need to do something at the federal level… I’m not trying to put down local law enforcement. I think they are doing the best they can with the resources they have.”
+    
+            Congress has taken some steps to help the retail industry. A law that took effect last year requires online marketplaces to verify and disclose information on large, third-party sellers, such as bank account numbers. The law in effect makes it harder to sell stolen products through the internet with impunity.
+    
+            But industry sources argue online platforms could do more to police organized retail crime on their sites.
+    
+            Specifically, those marketplaces should more proactively question high-volume sellers of discounted goods and “ask for proof that these goods have been acquired lawfully,” said Khris Hamlin, vice president of asset protection for the Retail Industry Leaders Association.
+    
+            Major online marketplaces say they have taken steps to combat such crime. Amazon touts a program that applies unique codes to certain products that can be used to detect and track stolen items. Mike Carson, eBay’s senior director of global policy, said eBay has safeguards including automated processes that flag irregularities among items for sale, which can prompt further investigation.
+    
+            Browne of Home Depot said he welcomes more assistance from online marketplaces and the federal government.
+    
+            “Crimes like drugs, human trafficking, they have major organizations going after this and rightfully so. Retail crimes have not gotten that same attention over the years,” he said. “It’s expanded beyond the bandwidth of local and sometimes even state law enforcement.”
+    
+            CNN’s Nelli Black and Yahya Abou-Ghazala contributed to this report.",CNN,23/05/2024,"['When SWAT officers swarmed a house in a sleepy San Jose, California neighborhood last month, they found what could best be described as a make-shift hardware store inside: Shelves lined with boxes of brand-new tools, bathroom fixtures and spools of industrial wiring.', 'It resembled a mini Home Depot.', 'And in some ways, it was.', 'Much of the cache of products—worth about $150,000—had been stolen from real Home Depot stores.', 'The retail chain’s internal security force spent months investigating the thefts, scanning security camera footage, tracking license plates and surveilling suspects.', 'They connected dots of the criminal network allegedly responsible and shared their findings with the Santa Clara County Sheriff’s Office, which executed search warrants and arrested the suspects.', 'Increasingly, this is how it goes today for retailers trying to battle theft and fraud by organized crime rings.', 'A CNN review of court records and interviews with more than two dozen retail and law enforcement officials shows that persistent problems with sophisticated organized crime networks have led many private-sector companies to not only assist law enforcement but to often deliver the bulk of the evidence that leads to criminal prosecutions.', 'Anyone who has shopped at retail stores in recent years has encountered everyday products like laundry detergent, medication and beauty supplies locked up behind metal gates or plexiglass.', 'Retailers say those in-store security measures are emblematic of the ongoing threat of organized retail crime, which typically involves groups of low-level thieves who steal items for middlemen who in turn sell to unsuspecting customers hunting for deals on marketplaces such as Amazon or eBay.', 'Efforts to counter this crime, however, have come with some costs.', 'Security investments can translate into higher prices for consumers, and civil liberties advocates argue the surveillance technology used by retailers can infringe on individuals’ privacy.', 'While retailers have long partnered with law enforcement, the industry has bolstered its role in recent years, devoting more staff and financial resources to thwarting theft.', 'Some retailers are researching body-worn cameras for employees.', 'Others, including Home Depot, have invested in police-like investigation centers to sift through data and pinpoint theft-group members.', '“A lot of times, local and state resources don’t have the capacity to investigate these crimes at that scale,” said Sean Browne, senior manager of asset protection for Home Depot.', 'Browne said Home Depot, which has nearly tripled its investigative team since 2016, has started using license-plate readers in some store parking lots. “', 'We try to full-service the investigations and ensure we cut off the head of the snake.”', 'Where law enforcement agencies sometimes face jurisdictional limits to their investigations, retailers can track cases across state and county lines with increasingly sophisticated tools – such as artificial intelligence that identifies patterns – and choose agencies with which to share cases.', '“Retailers themselves are really taking the ball and running with it and then partnering with law enforcement at all levels,” said David Johnston, vice president of asset protection for the National Retail Federation (NRF), a top lobbying group for the retail industry.', 'NRF surveys of retailerslast year found that more than half reported budget increases to combat organized retail crime.', 'Precise national data on organized retail crime is lacking.', 'Last year, NRF even retracted a claim in one of its reports related to the scale of the crime, which led critics to charge that the industry had exaggerated the issue to achieve policy goals or justify store closures caused by underperformance.', 'Still, most retailers insist they have seen an uptick in organized theft.', 'About 90% of asset-protection professionals surveyed last year by NRF said the crime had become more of a risk over the prior three years.', '“These investments wouldn’t be made for no reason,” said Browne of Home Depot, which has also added security to stores like locks, gates, cameras and other tech to deter theft. “', 'Unfortunately, this creates an environment for our customers that isn’t very friendly,” he said.', 'The industry’s push to crack down on organized retail crime comes amidst differing policies and law enforcement priorities across the nation.', 'Some states have focused on tackling such theft, with more than a dozen launching organized retail crime taskforces, which collaborate with private companies and police.', 'Investigators for the attorney general of Washington state, which created an organized retail crime unit last year, specifically credited businesses Target and Ulta Beauty for gathering much of the evidencebehind two felony cases, according to probable-cause affidavits.', 'That material included loss prevention reports, security footage and photographs.', 'In the case involving Ulta Beauty, a company investigator identified the defendant and accomplices whoallegedly stole products across six counties, according to an affidavit.', '“We can’t bring the cases without them,” Washington state Attorney General Bob Ferguson said when asked by CNN about the role of retailers. “', 'Everything you’re seeing in those probable-cause statements is what you would see in case after case after case as we go forward with this work.”', 'Ferguson said organized retail crime cases are inherently complex to investigate and prosecute, especially for local agencies with limited resources, so public-private partnerships are a necessity.', 'That was evident in the case of Linda Ann Been, an Oklahoma woman sentenced to more than five years in prison earlier this month for managing an organized theft ring that federal prosecutors say stole about $9 million in property from retailers.', 'The case largely began with an investigator for CVSwho noticed a trend of thefts at his company’s stores in the Tulsa area, according to a state affidavit.', 'He then used records to link low-level thieves who physically robbed the stores with Been and shared his findings with a local detective.', 'The investigation later revealed how Been had provided the thieves with lists of items to steal from businesses across multiple states.', 'The items were organized at a warehouse and boutique clothing shop in a suburb of Tulsa and sold by Been to other sellers – known as “fences” – outside of Oklahoma who in turn sold the products through websites, including eBay and Amazon, to customers, documents show.', 'In a brief interview with CNN prior to her sentencing, Been questioned why those higher-level fences to whom she sold products appear not to have faced consequences. “', 'How come … nothing happened to those people?”', 'she asked.', 'In her guilty plea in 2022, Been specifically named one such fence to whom she “frequently sent stolen inventory” as a man named Baruch “Butch” Treff.', 'Treff, in an interview with CNN, acknowledged buying products from Been, whom he said other vendors had recommended, but insisted he had no idea she had traded in stolen goods.', '“If I knew I would never have bought from her.', 'I don’t deal with stolen goods,” Treff said.', 'An attorney for Treff, Yosef Jacobovitch, added that his client did due diligence and met with Been to try to ensure she was a legitimate vendor. “', 'She fooled him and others,” Jacobovitch said.', 'A government investigator familiar with the case, who was not authorized to speak publicly, said one of the challenges of such cases is determining whether higher-level fences knowingly purchased stolen goods for resale.', 'The case against Been’s organizationinvolved a range of state and federal authorities including Homeland Security Investigations and the IRS, but during a news conference, a federal prosecutor credited retail-industry investigators for contributing and called such collaborations a “force multiplier.”', 'Aside from supplying evidence, retailers sometimes identify broader trends of groups moving from city to city before law enforcement, said Sgt.', 'Patrick Flynn of the Las Vegas Metropolitan Police Department’s organized retail crime unit, which launched last year.', 'Patrick Walsh, an organized-retail-crime manager for grocery chain Kroger, said his company has heavily invested not only in its investigative capacity but also visual deterrents.', 'For example, the company purchased an old police car to drive around parking lots to ward off would-be criminals.', 'Some companies’ efforts have backfired.', 'In December, drugstore chain Rite Aid agreed to a five-year ban on facial recognition technology after the Federal Trade Commission foundthat the company’s use of the tech led to false shoplifting allegations against customers – especially people of color–who appeared to match entries in a company watchlist.', 'A Rite Aid spokesperson said the company is enhancing its information-security practices and policies.', 'The way retailers have collected evidence for police with such tech has alarmed privacy-rights advocates.', '“Police are public entities.', 'You can send them a public records request.', 'You can elect a mayor who may want to change the police department.', 'You cannot do that with a giant corporation.', 'You have very little control over what technology they deploy, how they deploy it and then what they do with that data,” said Matthew Guariglia, a senior policy analyst with the Electronic Frontier Foundation, a digital rights group.', 'The threat of organized retail crime and pressure from the industry has led some officials to call on the federal government to do more.', 'Over the last year much of that push has centered on a federal bill, the Combating Organized Retail Crime Act, that would create an intelligence-sharing hub at the Department of Homeland Security and broaden the scope of applicable criminal conduct.', 'San Diego CountyDistrict Attorney Summer Stephan, a Republican-turned-independent who expressed support for those changes at a congressional hearing in December, referred to limited coordination between law enforcement and retailersand laws that apply relatively light penalties for habitual thieves as “key challenges” in policing the issue.', 'The bill has receivedcriticism.', 'A coalition of civil rights groups that included the ACLU and NAACP argued in a letter in March that the legislation promotes punitive policies that would disproportionately affect marginalized communities and exacerbate poverty by pushing more crime into the federal system. “', 'This enforcement-first response, we don’t think that leads to crime deterrence,” Chloé White, an attorney with one of those groups, the Leadership Conference on Civil and Human Rights, told CNN.', 'The bill has garnered support from a bipartisan group of lawmakers, but it has not advanced.', '“Everything is stalled in Congress,” said Rep. Dina Titus, a Nevada Democrat who helped introduce the legislation.', 'Reacting to the way private retailers have been growing their internal investigative efforts, Titus said, “That’s the reason we need to do something at the federal level… I’m not trying to put down local law enforcement.', 'I think they are doing the best they can with the resources they have.”', 'Congress has taken some steps to help the retail industry.', 'A law that took effect last year requires online marketplaces to verify and disclose information on large, third-party sellers, such as bank account numbers.', 'The law in effect makes it harder to sell stolen products through the internet with impunity.', 'But industry sources argue online platforms could do more to police organized retail crime on their sites.', 'Specifically, those marketplaces should more proactively question high-volume sellers of discounted goods and “ask for proof that these goods have been acquired lawfully,” said Khris Hamlin, vice president of asset protection for the Retail Industry Leaders Association.', 'Major online marketplaces say they have taken steps to combat such crime.', 'Amazon touts a program that applies unique codes to certain products that can be used to detect and track stolen items.', 'Mike Carson, eBay’s senior director of global policy, said eBay has safeguards including automated processes that flag irregularities among items for sale, which can prompt further investigation.', 'Browne of Home Depot said he welcomes more assistance from online marketplaces and the federal government.', '“Crimes like drugs, human trafficking, they have major organizations going after this and rightfully so.', 'Retail crimes have not gotten that same attention over the years,” he said. “', 'It’s expanded beyond the bandwidth of local and sometimes even state law enforcement.”', 'CNN’s Nelli Black and Yahya Abou-Ghazala contributed to this report.']",-0.1019142651742716,"Where law enforcement agencies sometimes face jurisdictional limits to their investigations, retailers can track cases across state and county lines with increasingly sophisticated tools – such as artificial intelligence that identifies patterns – and choose agencies with which to share cases.","Retailers say those in-store security measures are emblematic of the ongoing threat of organized retail crime, which typically involves groups of low-level thieves who steal items for middlemen who in turn sell to unsuspecting customers hunting for deals on marketplaces such as Amazon or eBay.",0.0766630614245379,"While retailers have long partnered with law enforcement, the industry has bolstered its role in recent years, devoting more staff and financial resources to thwarting theft.",Some companies’ efforts have backfired.,2024-05-23
+Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot',https://www.cnbc.com/2024/05/20/jamie-dimon-jpmorgan-stock-too-expensive.html,2024-05-20T20:44:19+0000,"In this articleJamie Dimon thinks shares of JPMorgan Chase are expensive.That was the message the bank's longtime CEO gave analysts Monday during JPMorgan's annual investor meeting. When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words.""I want to make it really clear, OK? We're not going to buy back a lot of stock at these prices,"" Dimon said.JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock. That 12-month performance beats other banks, especially smaller firms recovering from the 2023 regional banking crisis.It also makes the stock relatively pricey as measured by price to tangible book value, a commonly used industry metric. JPMorgan shares traded recently for around 2.4 times book value.""Buying back stock of a financial company greatly in excess of two times tangible book is a mistake,"" Dimon said. ""We aren't going to do it.""Dimon's comments about his company's stock, as well as an acknowledgement that he may be nearing retirement, sent the bank's shares down 4.5% Monday.To be clear, JPMorgan has been repurchasing its stock under a previously authorized buyback plan. The bank resumed buybacks early last year after taking a pause to build up capital under new expected guidelines.Dimon's guidance simply means it is unlikely the program will be boosted anytime soon. JPMorgan is likely to purchase shares at a $2 billion to $2.5 billion quarterly clip, Portales Partners analyst Charles Peabody wrote in a March research note.The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted. When interest rates were low, Dimon kept relatively high levels of cash, rather than plowing funds into low-yielding, long-term bonds. That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.Dimon's desire to hoard cash is not just because of impending capital rules. On multiple occasions Monday, he said he was ""cautiously pessimistic"" about economic risks, including those tied to inflation, interest rates, geopolitics and the reversal of the Federal Reserve's bond-buying programs.Markets are currently underappreciating those risks, Dimon said. For instance, prices of high-quality corporate bonds do not adequately reflect the potential for financial stress, Dimon said.""The investment grade credit spread, which is almost the lowest it's ever been, will be dead wrong,"" Dimon said. ""It's just a matter of time.""Since 2022, Dimon has warned of an economic ""hurricane"" set off by geopolitical risks and quantitative tightening. While the continued strength of the economy has surprised many on Wall Street, including Dimon, his concerns have informed his decision-making process ever since.""We've been very, very consistent — if the stock goes up, we'll buy less,"" he said Monday. ""When it comes down, we'll buy more.""",CNBC,20/05/2024,"['In this articleJamie Dimon thinks shares of JPMorgan Chase are expensive.', ""That was the message the bank's longtime CEO gave analysts Monday during JPMorgan's annual investor meeting."", ""When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words."", '""I want to make it really clear, OK?', 'We\'re not going to buy back a lot of stock at these prices,"" Dimon said.', ""JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock."", 'That 12-month performance beats other banks, especially smaller firms recovering from the 2023 regional banking crisis.', 'It also makes the stock relatively pricey as measured by price to tangible book value, a commonly used industry metric.', 'JPMorgan shares traded recently for around 2.4 times book value.', '""Buying back stock of a financial company greatly in excess of two times tangible book is a mistake,"" Dimon said. ""', ""We aren't going to do it."", '""Dimon\'s comments about his company\'s stock, as well as an acknowledgement that he may be nearing retirement, sent the bank\'s shares down 4.5% Monday.', 'To be clear, JPMorgan has been repurchasing its stock under a previously authorized buyback plan.', 'The bank resumed buybacks early last year after taking a pause to build up capital under new expected guidelines.', ""Dimon's guidance simply means it is unlikely the program will be boosted anytime soon."", 'JPMorgan is likely to purchase shares at a $2 billion to $2.5 billion quarterly clip, Portales Partners analyst Charles Peabody wrote in a March research note.', 'The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted.', 'When interest rates were low, Dimon kept relatively high levels of cash, rather than plowing funds into low-yielding, long-term bonds.', 'That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.', ""Dimon's desire to hoard cash is not just because of impending capital rules."", 'On multiple occasions Monday, he said he was ""cautiously pessimistic"" about economic risks, including those tied to inflation, interest rates, geopolitics and the reversal of the Federal Reserve\'s bond-buying programs.', 'Markets are currently underappreciating those risks, Dimon said.', 'For instance, prices of high-quality corporate bonds do not adequately reflect the potential for financial stress, Dimon said.', '""The investment grade credit spread, which is almost the lowest it\'s ever been, will be dead wrong,"" Dimon said. ""', ""It's just a matter of time."", '""Since 2022, Dimon has warned of an economic ""hurricane"" set off by geopolitical risks and quantitative tightening.', 'While the continued strength of the economy has surprised many on Wall Street, including Dimon, his concerns have informed his decision-making process ever since.', '""We\'ve been very, very consistent — if the stock goes up, we\'ll buy less,"" he said Monday. ""', 'When it comes down, we\'ll buy more.""']",0.0939214802653052,"""I want to make it really clear, OK?","""The investment grade credit spread, which is almost the lowest it's ever been, will be dead wrong,"" Dimon said. """,-0.1596055142581462,"That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.","""Dimon's comments about his company's stock, as well as an acknowledgement that he may be nearing retirement, sent the bank's shares down 4.5% Monday.",2024-05-23
+Calling election on economic issues is a risky gamble,https://www.bbc.co.uk/news/articles/crggzdvwx8go,2024-05-22T20:25:57.788Z,"I have never before heard of pegging an election launch to a set of economic statistics, but Prime Minister Rishi Sunak has clearly decided to go for an election on the back of Wednesday’s inflation figures, and the stronger than expected exit from recession. Inflation figures showed that the UK rate is at its lowest level in almost three years. That figure was not unexpected. Headline inflation in general is now back to more normal levels, though not quite yet at the Bank of England’s target. Those numbers did have a sting in the tail, however. Underlying measures of inflation, especially in the service sector, remained stubbornly high at just below 6%. This means that a Bank of England rate cut on 20 June - in the middle of the campaign - is considered rather less likely now. But the PM clearly thought he had enough of an economic turnaround story to tell the nation, and that the triple price shock is beginning to ebb away.  It's a significant gamble on election economics. Firstly that there is a recovery - and Wednesday's figures help. It's a further bet that any recovery will be widely felt, and lastly that the public feel that credit is due to the Conservative government.  His pitch will be that as chancellor and PM, he shepherded the country through three years of global crisis, with unprecedented economic support for jobs and bills, and the public should not “risk the recovery”. His party wants to paint a vision of a Korean-style high tech economy, with more efficient, digitised public services allowing a smaller state and lower taxes. But Labour also wants to fight on the economy. Keir Starmer and Shadow Chancellor Rachel Reeves will say some of the blame for high prices and mortgage rates lies with the government of the day and that, in any case, families do not feel a turnaround. They will incessantly focus on the fallout in the aftermath of Liz Truss’s mini budget, and say “economic stability” is a change from three PMs and four chancellors in one parliament. They will argue for more green investment and house building and public money for steel communities. Ultimately the Conservatives want credit for running the economy during a tumultuous triple shock, and returning to growth and normal inflation. Labour want to blame the incumbent for what happened on their watch. An argument about economics is likely to define this campaign. But it may be more about the economic past than the future.  ",BBC,22/05/2024,"['I have never before heard of pegging an election launch to a set of economic statistics, but Prime Minister Rishi Sunak has clearly decided to go for an election on the back of Wednesday’s inflation figures, and the stronger than expected exit from recession.', 'Inflation figures showed that the UK rate is at its lowest level in almost three years.', 'That figure was not unexpected.', 'Headline inflation in general is now back to more normal levels, though not quite yet at the Bank of England’s target.', 'Those numbers did have a sting in the tail, however.', 'Underlying measures of inflation, especially in the service sector, remained stubbornly high at just below 6%.', 'This means that a Bank of England rate cut on 20 June - in the middle of the campaign - is considered rather less likely now.', 'But the PM clearly thought he had enough of an economic turnaround story to tell the nation, and that the triple price shock is beginning to ebb away.', ""It's a significant gamble on election economics."", ""Firstly that there is a recovery - and Wednesday's figures help."", ""It's a further bet that any recovery will be widely felt, and lastly that the public feel that credit is due to the Conservative government."", 'His pitch will be that as chancellor and PM, he shepherded the country through three years of global crisis, with unprecedented economic support for jobs and bills, and the public should not “risk the recovery”.', 'His party wants to paint a vision of a Korean-style high tech economy, with more efficient, digitised public services allowing a smaller state and lower taxes.', 'But Labour also wants to fight on the economy.', 'Keir Starmer and Shadow Chancellor Rachel Reeves will say some of the blame for high prices and mortgage rates lies with the government of the day and that, in any case, families do not feel a turnaround.', 'They will incessantly focus on the fallout in the aftermath of Liz Truss’s mini budget, and say “economic stability” is a change from three PMs and four chancellors in one parliament.', 'They will argue for more green investment and house building and public money for steel communities.', 'Ultimately the Conservatives want credit for running the economy during a tumultuous triple shock, and returning to growth and normal inflation.', 'Labour want to blame the incumbent for what happened on their watch.', 'An argument about economics is likely to define this campaign.', 'But it may be more about the economic past than the future.']",-0.0302374973905657,"His party wants to paint a vision of a Korean-style high tech economy, with more efficient, digitised public services allowing a smaller state and lower taxes.","Keir Starmer and Shadow Chancellor Rachel Reeves will say some of the blame for high prices and mortgage rates lies with the government of the day and that, in any case, families do not feel a turnaround.",0.151028322322028,Firstly that there is a recovery - and Wednesday's figures help.,"Underlying measures of inflation, especially in the service sector, remained stubbornly high at just below 6%.",2024-05-23
+Water firms ask for bill rises of between 24% and 91%,https://www.bbc.co.uk/news/articles/ce55vp78n40o,2024-05-21T13:33:01.036Z,"Water companies in England and Wales want bills to increase by between 24% and 91% over the next five years, according to figures compiled by the consumer watchdog. Southern Water is asking for the biggest jump of 91%, according to the Consumer Council for Water (CCW), with South Staffordshire and Cambridge Water asking for the lowest rise of 24%.  Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas. The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030. Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure. Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers. The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half. Mike Keil, chief executive of the CCW, said bill rises were ""going to come as a massive surprise to people"". ""People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said. Source: Consumer Council for Water Estimate are for average bills. Costs will vary depending on a property's rateable value  The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October. The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target. There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales. The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems. Katy Taylor, Southern Water’s chief customer officer, said the company shared ""everyone’s concerns about rising payments"", but added ""the water needs of our water-stressed region pose a unique set of challenges which require significant investment"". She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"". Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.  In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period. Macquarie points out that it has recently injected £500m of additional cash into Southern Water. Water UK, which represents suppliers, said bill rises were ""never welcome"" and added that water companies were ""massively increasing the level of financial support they offer to customers who struggle to pay their bills"". ""Ofwat is currently scrutinising these plans and will only allow investment that is new, necessary and value for money. It will not allow water companies to spend money on anything for which they have already received funding,"" the industry body said. Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December. Water services are publicly owned in Northern Ireland and Scotland. ",BBC,21/05/2024,"['Water companies in England and Wales want bills to increase by between 24% and 91% over the next five years, according to figures compiled by the consumer watchdog.', 'Southern Water is asking for the biggest jump of 91%, according to the Consumer Council for Water (CCW), with South Staffordshire and Cambridge Water asking for the lowest rise of 24%.', 'Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas.', 'The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030.', ""Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure."", 'Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers.', 'The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half.', 'Mike Keil, chief executive of the CCW, said bill rises were ""going to come as a massive surprise to people"". ""', 'People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said.', 'Source: Consumer Council for Water Estimate are for average bills.', ""Costs will vary depending on a property's rateable value The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October."", ""The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target."", 'There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales.', 'The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems.', 'Katy Taylor, Southern Water’s chief customer officer, said the company shared ""everyone’s concerns about rising payments"", but added ""the water needs of our water-stressed region pose a unique set of challenges which require significant investment"".', 'She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"".', 'Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.', 'In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.', 'Macquarie points out that it has recently injected £500m of additional cash into Southern Water.', 'Water UK, which represents suppliers, said bill rises were ""never welcome"" and added that water companies were ""massively increasing the level of financial support they offer to customers who struggle to pay their bills"". ""', 'Ofwat is currently scrutinising these plans and will only allow investment that is new, necessary and value for money.', 'It will not allow water companies to spend money on anything for which they have already received funding,"" the industry body said.', 'Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December.', 'Water services are publicly owned in Northern Ireland and Scotland.']",0.0019415019538821,"She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"".","Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure.",0.2631514200142452,"In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.","People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said.",2024-05-23
+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).",2024-05-23
+Cazoo: What went wrong for the online used car retailer?,https://www.bbc.co.uk/news/articles/cjq55333xg9o,2024-05-21T15:25:24.710Z,"Online used car retailer Cazoo has fallen into administration, after cutting hundreds of jobs as part of a big restructuring. Cazoo became popular during the Covid pandemic when restrictions forced car buyers to browse and make their purchases online. But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars. That move has led to 728 redundancies, administrators Teneo said, after being appointed to try to find a buyer for the business. Teneo said the firm's 208 remaining staff would be retained for the time being during the administration process. It is a dramatic fall from grace for the business, which surged in popularity during the pandemic and subsequent lockdowns. Back in 2021, if you hadn't used Cazoo, you probably would have seen or heard of it. Its branding was splashed everywhere, with the company sponsoring Premier League football teams Aston Villa and Everton, as well as a host of other major sporting events like darts and snooker. Cazoo was different to other more traditional car dealers - it was a tech business trying to shake up a well-established order. The platform allowed shoppers to buy, part-exchange and finance vehicles entirely online. People could order while sitting on the sofa, and the vehicle would be delivered to their home in as little as 72 hours, with a seven-day returns policy. Launched in late 2019, the pandemic massively boosted the firm's fortunes. As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared. The environment fuelled an astonishing increase in the company's value. When it listed on the New York Stock Exchange in September 2021, it was valued at a whopping $7bn (£5bn). Now, its valuation has dropped to just $30m. In November 2021, Cazoo's founder Alex Chesterman - who also launched property website Zoopla and LoveFilm, a predecessor of Netflix - told the BBC that gaining just a small percentage of the market would create an ""enormous business"", arguing that Cazoo offered customers a simpler experience, greater choice and transparency on price. The platform went on to launch in France, Germany, Spain and Portugal. At its peak, Cazoo employed 4,500 people in 2021. But despite the mission to transform the car-selling industry, the feel-good factor surrounding Cazoo began to fade. One of the key people behind Cazoo's strong marketing campaign was Andrew Francos, who joined the company shortly before it launched. He says the early days were ""really exciting times"", but believes the firm expanded too quickly. ""Looking back I think Europe was a distraction,"" he says. ""I remember saying to someone, 'Are we going too soon?' I was probably naïve to just buy into the vision because I believed in it."" Mr Francos left Cazoo in October 2022, and admits he felt like the magic surrounding the company had gone, but adds: ""I did also think they would turn it around."" The business has never made a profit. While this is not unusual for a start-up - in fact, Mr Chesterman said he expected this to be the case for two or three years after going public - its losses grew. In 2022 it posted a loss of £704m, up from £544m the year before, and in December last year it restructured debts of $630m. According to Catherine Faiers, chief operating officer at car marketplace giant Auto Trader, while Covid saw a shift to online purchasing becoming the norm for many goods, ""cars are just fundamentally different to other things you buy"". She says the majority of UK consumers prefer a blended approach of researching online, but then seeing the car and speaking to a dealer in person before handing over their cash. ""Buying a car is a bit like buying a house. It's the second-most valuable thing that most people buy. We name our cars. When you ask people why they own a car it reads a bit like the American constitution - 'I own a car because it gives me freedom, it gives me independence, it's empowering,'"" Ms Faiers says. Kevin Gaskell, former managing director of Porsche, Lamborghini and BMW, says Cazoo's problems were down to a ""simple fact of trying to get a foothold in a very sophisticated, very established market"". ""They believed that they could come in and become an online retail business and provide a full service but car dealers are already doing that. There's nothing new in the model that they developed,"" he told the BBC's Today programme. ""They've spent a huge amount of money developing the brand. In terms of their revenue, it has got nowhere near where they expected it to be."" Mr Chesterman stepped aside as chief executive in January 2023 and perhaps the writing was on the wall for Cazoo when he left the company altogether in December. His replacement, Paul Whitehead, stepped down in March this year - the same time that Cazoo announced it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform, and wound down its European business. The company has said it explored ""strategic alternatives"" to insolvency, including selling off parts of its business, as it struggled to raise cash from investors, but no buyer came forward. When contacted by the BBC for comment on Cazoo's downfall, Mr Chesterman said he had had no involvement with the company for more than 18 months and declined to comment further. Philip Nothard, insight and strategy director at Cox Automotive, says Cazoo did force many of the established players to adapt, but as supply problems and microchip shortages have dissipated, it allowed others to catch up. ""They came in quick, they came in heavy, they came in with a concept that on the face of it worked in many ways,"" he adds ""[But] in time, established retailers could offer what Cazoo were offering. They could offer that digital omnichannel, e-commerce experience. And essentially they had a physical infrastructure already in place."" ",BBC,21/05/2024,"['Online used car retailer Cazoo has fallen into administration, after cutting hundreds of jobs as part of a big restructuring.', 'Cazoo became popular during the Covid pandemic when restrictions forced car buyers to browse and make their purchases online.', 'But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars.', 'That move has led to 728 redundancies, administrators Teneo said, after being appointed to try to find a buyer for the business.', ""Teneo said the firm's 208 remaining staff would be retained for the time being during the administration process."", 'It is a dramatic fall from grace for the business, which surged in popularity during the pandemic and subsequent lockdowns.', ""Back in 2021, if you hadn't used Cazoo, you probably would have seen or heard of it."", 'Its branding was splashed everywhere, with the company sponsoring Premier League football teams Aston Villa and Everton, as well as a host of other major sporting events like darts and snooker.', 'Cazoo was different to other more traditional car dealers - it was a tech business trying to shake up a well-established order.', 'The platform allowed shoppers to buy, part-exchange and finance vehicles entirely online.', 'People could order while sitting on the sofa, and the vehicle would be delivered to their home in as little as 72 hours, with a seven-day returns policy.', ""Launched in late 2019, the pandemic massively boosted the firm's fortunes."", ""As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared."", ""The environment fuelled an astonishing increase in the company's value."", 'When it listed on the New York Stock Exchange in September 2021, it was valued at a whopping $7bn (£5bn).', 'Now, its valuation has dropped to just $30m. In November 2021, Cazoo\'s founder Alex Chesterman - who also launched property website Zoopla and LoveFilm, a predecessor of Netflix - told the BBC that gaining just a small percentage of the market would create an ""enormous business"", arguing that Cazoo offered customers a simpler experience, greater choice and transparency on price.', 'The platform went on to launch in France, Germany, Spain and Portugal.', 'At its peak, Cazoo employed 4,500 people in 2021.', 'But despite the mission to transform the car-selling industry, the feel-good factor surrounding Cazoo began to fade.', ""One of the key people behind Cazoo's strong marketing campaign was Andrew Francos, who joined the company shortly before it launched."", 'He says the early days were ""really exciting times"", but believes the firm expanded too quickly. ""', 'Looking back I think Europe was a distraction,"" he says. ""', ""I remember saying to someone, 'Are we going too soon?'"", 'I was probably naïve to just buy into the vision because I believed in it.""', 'Mr Francos left Cazoo in October 2022, and admits he felt like the magic surrounding the company had gone, but adds: ""I did also think they would turn it around.""', 'The business has never made a profit.', 'While this is not unusual for a start-up - in fact, Mr Chesterman said he expected this to be the case for two or three years after going public - its losses grew.', 'In 2022 it posted a loss of £704m, up from £544m the year before, and in December last year it restructured debts of $630m. According to Catherine Faiers, chief operating officer at car marketplace giant Auto Trader, while Covid saw a shift to online purchasing becoming the norm for many goods, ""cars are just fundamentally different to other things you buy"".', 'She says the majority of UK consumers prefer a blended approach of researching online, but then seeing the car and speaking to a dealer in person before handing over their cash. ""', 'Buying a car is a bit like buying a house.', ""It's the second-most valuable thing that most people buy."", 'We name our cars.', 'When you ask people why they own a car it reads a bit like the American constitution - \'I own a car because it gives me freedom, it gives me independence, it\'s empowering,\'"" Ms Faiers says.', 'Kevin Gaskell, former managing director of Porsche, Lamborghini and BMW, says Cazoo\'s problems were down to a ""simple fact of trying to get a foothold in a very sophisticated, very established market"". ""', 'They believed that they could come in and become an online retail business and provide a full service but car dealers are already doing that.', 'There\'s nothing new in the model that they developed,"" he told the BBC\'s Today programme. ""', ""They've spent a huge amount of money developing the brand."", 'In terms of their revenue, it has got nowhere near where they expected it to be.""', 'Mr Chesterman stepped aside as chief executive in January 2023 and perhaps the writing was on the wall for Cazoo when he left the company altogether in December.', 'His replacement, Paul Whitehead, stepped down in March this year - the same time that Cazoo announced it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform, and wound down its European business.', 'The company has said it explored ""strategic alternatives"" to insolvency, including selling off parts of its business, as it struggled to raise cash from investors, but no buyer came forward.', ""When contacted by the BBC for comment on Cazoo's downfall, Mr Chesterman said he had had no involvement with the company for more than 18 months and declined to comment further."", 'Philip Nothard, insight and strategy director at Cox Automotive, says Cazoo did force many of the established players to adapt, but as supply problems and microchip shortages have dissipated, it allowed others to catch up. ""', 'They came in quick, they came in heavy, they came in with a concept that on the face of it worked in many ways,"" he adds ""[But] in time, established retailers could offer what Cazoo were offering.', 'They could offer that digital omnichannel, e-commerce experience.', 'And essentially they had a physical infrastructure already in place.""']",0.0935591518822369,"When you ask people why they own a car it reads a bit like the American constitution - 'I own a car because it gives me freedom, it gives me independence, it's empowering,'"" Ms Faiers says.","But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars.",-0.2081619203090667,"Launched in late 2019, the pandemic massively boosted the firm's fortunes.","As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared.",2024-05-23
+"Sales of newly built homes tank in April, as prices and interest rates rise",https://www.cnbc.com/2024/05/23/newly-built-home-sales-april.html,2024-05-23T15:59:01+0000,"Sales of newly built homes dropped 4.7% in April compared with March, and fell a larger 7.7% from the prior year, the U.S. Census said Thursday.March sales were also revised significantly lower.Higher mortgage rates are clearly hampering sales. The monthly reading is based on signed contracts, so it reflects people shopping during the month and inking deals based on current rates.The average rate on the 30-year fixed mortgage was in the high 6% range at the end of March, but then shot up to 7.5% during April, cutting into affordability.Adding to that, the median price of a new home sold in April was $433,500, 4% higher than it was in April 2023. Some of that is due to the mix of homes selling, which is mostly on the higher end of the market. Those buyers are not as influenced by mortgage rates, as they often use all cash.Builders say they cannot lower prices due to high costs for land, labor and materials. The big production builders have been buying down mortgage rates to help boost sales, but they are able to do that because of their size. D.R. Horton and Toll Brothers reported strong earnings in their latest quarters, beating expectations and citing growing demand due to low supply in the resale market.""For all the happy talk from the big builders (who are taking market share), the entire new build industry is selling new homes at a pace below the 5 yr average,"" noted Peter Boockvar, chief investment officer at Bleakley Financial Group and a CNBC contributor.In the first quarter of 2024, 38% of a median household income nationally was needed to make the mortgage payment on a median-priced new single-family home, according to a new index launched Thursday by the National Association of Home Builders and Wells Fargo. Low-income families, which it defines as those earning just 50% of the area's median income, would have to spend 77% of their earnings to pay for the same new home. Prices continue to rise for both new and existing homes due to a lack of supply. There is very little available for sale on the lower end of the resale market. While the number of newly built homes continues to rise, up 12% year over year, new homes come at a price premium and are out of range for lower-income buyers.""With a nationwide shortage of roughly 1.5 million homes, the lack of housing units is the primary cause of growing housing affordability challenges,"" said Robert Dietz, NAHB's chief economist. ""Policymakers at all levels of government need to enact policy changes that will allow builders to construct more homes, such as speeding up permit approval times, providing resources for skilled labor training and fixing building material supply chains.""",CNBC,23/05/2024,"['Sales of newly built homes dropped 4.7% in April compared with March, and fell a larger 7.7% from the prior year, the U.S. Census said Thursday.', 'March sales were also revised significantly lower.', 'Higher mortgage rates are clearly hampering sales.', 'The monthly reading is based on signed contracts, so it reflects people shopping during the month and inking deals based on current rates.', 'The average rate on the 30-year fixed mortgage was in the high 6% range at the end of March, but then shot up to 7.5% during April, cutting into affordability.', 'Adding to that, the median price of a new home sold in April was $433,500, 4% higher than it was in April 2023.', 'Some of that is due to the mix of homes selling, which is mostly on the higher end of the market.', 'Those buyers are not as influenced by mortgage rates, as they often use all cash.', 'Builders say they cannot lower prices due to high costs for land, labor and materials.', 'The big production builders have been buying down mortgage rates to help boost sales, but they are able to do that because of their size.', 'D.R. Horton and Toll Brothers reported strong earnings in their latest quarters, beating expectations and citing growing demand due to low supply in the resale market.', '""For all the happy talk from the big builders (who are taking market share), the entire new build industry is selling new homes at a pace below the 5 yr average,"" noted Peter Boockvar, chief investment officer at Bleakley Financial Group and a CNBC contributor.', 'In the first quarter of 2024, 38% of a median household income nationally was needed to make the mortgage payment on a median-priced new single-family home, according to a new index launched Thursday by the National Association of Home Builders and Wells Fargo.', ""Low-income families, which it defines as those earning just 50% of the area's median income, would have to spend 77% of their earnings to pay for the same new home."", 'Prices continue to rise for both new and existing homes due to a lack of supply.', 'There is very little available for sale on the lower end of the resale market.', 'While the number of newly built homes continues to rise, up 12% year over year, new homes come at a price premium and are out of range for lower-income buyers.', '""With a nationwide shortage of roughly 1.5 million homes, the lack of housing units is the primary cause of growing housing affordability challenges,"" said Robert Dietz, NAHB\'s chief economist. ""', 'Policymakers at all levels of government need to enact policy changes that will allow builders to construct more homes, such as speeding up permit approval times, providing resources for skilled labor training and fixing building material supply chains.""']",0.0290192252213069,"""For all the happy talk from the big builders (who are taking market share), the entire new build industry is selling new homes at a pace below the 5 yr average,"" noted Peter Boockvar, chief investment officer at Bleakley Financial Group and a CNBC contributor.","Low-income families, which it defines as those earning just 50% of the area's median income, would have to spend 77% of their earnings to pay for the same new home.",0.2314275365609389,"While the number of newly built homes continues to rise, up 12% year over year, new homes come at a price premium and are out of range for lower-income buyers.","Sales of newly built homes dropped 4.7% in April compared with March, and fell a larger 7.7% from the prior year, the U.S. Census said Thursday.",2024-05-23
+JPMorgan CEO Jamie Dimon signals retirement is closer than ever,https://www.cnbc.com/2024/05/20/jpmorgan-ceo-jamie-dimon-retirement-approaching.html,2024-05-20T23:12:50+0000,"In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years. That is a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away.""The timetable isn't five years anymore,"" Dimon said at the New York-based bank's annual investor meeting.The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts. Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.Still, Dimon added Monday that he still has ""the energy that I've always had"" in managing the sprawling company.The decision of when he moves on will ultimately be up to JPMorgan's board, Dimon said, and he exhorted investors and analysts to examine the executives who could take his place.Atop the short list of candidates is Marianne Lake, CEO of JPMorgan's consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank. The executives were given their latest assignments in January.""We're on the way, we're moving people around,"" Dimon said.Even when he steps down as CEO, however, it is likely he will stay on as the bank's chairman, JPMorgan has said.",CNBC,20/05/2024,"[""In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much."", ""In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years."", ""That is a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away."", '""The timetable isn\'t five years anymore,"" Dimon said at the New York-based bank\'s annual investor meeting.', ""The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts."", 'Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.', 'Still, Dimon added Monday that he still has ""the energy that I\'ve always had"" in managing the sprawling company.', ""The decision of when he moves on will ultimately be up to JPMorgan's board, Dimon said, and he exhorted investors and analysts to examine the executives who could take his place."", ""Atop the short list of candidates is Marianne Lake, CEO of JPMorgan's consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank."", 'The executives were given their latest assignments in January.', '""We\'re on the way, we\'re moving people around,"" Dimon said.', ""Even when he steps down as CEO, however, it is likely he will stay on as the bank's chairman, JPMorgan has said.""]",0.0673280442222593,"Still, Dimon added Monday that he still has ""the energy that I've always had"" in managing the sprawling company.",In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.,-0.9450824856758118,,The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts.,2024-05-23
+Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users,https://www.cnbc.com/2024/05/21/nestle-to-launch-vital-pursuit-frozen-food-for-glp-1-users.html,2024-05-21T13:23:12+0000,"Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.Over the last year, the buzzy weight loss and diabetes drugs have taken off as more options hit the market and as celebrities like Oprah Winfrey and Elon Musk endorse them. Roughly one in eight adults in the U.S. reported using a GLP-1 drug at some point, according to a recent survey from health policy research organization KFF. Roughly half of those Americans, or around 6% of U.S. adults, are currently using one of the treatments. The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.As the drugs' popularity has soared, investors have grown concerned about what their rise means for food and beverage companies and fast-food chains. People who take the medication typically eat less frequently because they have fewer cravings and desire more protein and less sugary and fatty foods. In October, Walmart U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories.But Nestle sees an opportunity to cater to those consumers through Vital Pursuit.""The reality is, for the last 25 years, the diet has been dying, in a sense. ... For me, what we've done is actually given consumers a new tool that actually gives them confidence and success on this journey,"" Nestle's North America CEO Steve Presley told CNBC.The new brand's initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas. The products will include one or more essential nutrients, like protein, calcium or iron. The company plans to sell Vital Pursuit items for $4.99 or under and offer gluten-free options.Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media.The new line will hit the freezer aisle by the fourth quarter.In recent years, Nestle has also tried to focus more on health-conscious consumers. In 2018, it sold its U.S. candy business, which includes brands like Butterfinger, Crunch and Laffy Taffy, to Ferrero for $2.8 billion. Nestle's food business, which includes brands like Stouffer's and Toll House, only accounts for 14.5% of its U.S. sales.Nestle already owns Lean Cuisine, which was founded in 1981 as a healthier alternative to other frozen meals. The company chose to create a new brand to reach GLP-1 users because Lean's branding focuses on consumers looking to limit their calories. However, people who take GLP-1 medications may want to consume more nutrients, such as protein, which can help with the muscle loss associated with the drugs. ""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.Shares of Swiss-based Nestle have fallen 16% this year, dragging its market value down to $278 billion. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.",CNBC,21/05/2024,"['Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.', 'Over the last year, the buzzy weight loss and diabetes drugs have taken off as more options hit the market and as celebrities like Oprah Winfrey and Elon Musk endorse them.', 'Roughly one in eight adults in the U.S. reported using a GLP-1 drug at some point, according to a recentsurveyfrom health policy research organization KFF.', 'Roughly half of those Americans, or around 6% of U.S. adults, are currently using one of the treatments.', 'The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.', ""As the drugs' popularity has soared, investors have grown concerned about what their rise means for food and beverage companies and fast-food chains."", 'People who take the medication typically eat less frequently because they have fewer cravings and desire more protein and less sugary and fatty foods.', 'In October, Walmart U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories.', 'But Nestle sees an opportunity to cater to those consumers through Vital Pursuit.', '""The reality is, for the last 25 years, the diet has been dying, in a sense. ...', 'For me, what we\'ve done is actually given consumers a new tool that actually gives them confidence and success on this journey,"" Nestle\'s North America CEO Steve Presley told CNBC.The new brand\'s initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas.', 'The products will include one or more essential nutrients, like protein, calcium or iron.', 'The company plans to sell Vital Pursuit items for $4.99 or under and offer gluten-free options.', ""Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media."", 'The new line will hit the freezer aisle by the fourth quarter.', 'In recent years, Nestle has also tried to focus more on health-conscious consumers.', 'In 2018, it sold its U.S. candy business, which includes brands like Butterfinger, Crunch and Laffy Taffy, to Ferrero for $2.8 billion.', ""Nestle's food business, which includes brands like Stouffer's and Toll House, only accounts for 14.5% of its U.S. sales."", 'Nestle already owns Lean Cuisine, which was founded in 1981 as a healthier alternative to other frozen meals.', ""The company chose to create a new brand to reach GLP-1 users because Lean's branding focuses on consumers looking to limit their calories."", 'However, people who take GLP-1 medications may want to consume more nutrients, such as protein, which can help with the muscle loss associated with the drugs.', '""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.', 'Shares of Swiss-based Nestle have fallen 16% this year, dragging its market value down to $278 billion.', 'The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.']",0.3001622429968393,"""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.",,0.249001994729042,"The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.",The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.,2024-05-23
+Disneyland character performers vote to unionize,https://edition.cnn.com/2024/05/19/business/disney-character-performers-vote-union/index.html,"
+  Published
+        4:02 PM EDT, Sun May 19, 2024
+    ","You can add Mickey, Minnie, Donald and Goofy to the growing list of workers seeking better employment benefits.
+    
+            After three days of voting last week, 1,700 Disneyland Resort cast members who play characters around the theme park in Anaheim, California, as well as perform at parades, voted to unionize under Actors’ Equity Association, the union announced Saturday night.
+    
+            Equity described the vote as “a landslide victory,” with 953 cast members favoring unionization and 258 opposed.
+    
+            The group had announced a union organizing effort in February before filing for a vote with the National Labor Relations Board in April. There are more than 21,000 Disneyland “cast member” employees, who are represented by more than a dozen unions. Those unionized jobs include workers in retail, food service, security, pyrotechnic, and hair and makeup.
+    
+            Until now, employees dressing up as iconic Disney characters like Mickey Mouse, Cinderella, Snow White and Captain Hook have been excluded.
+    
+            “These workers are on the front lines of the Guest experience; they’re the human beings who create lifelong memories when your kids hug a character, or when your family watches a parade roll by the castle,” said Actors’ Equity Association President Kate Shindle in a statement. “The next step will be to collaborate with them about improving health & safety, wages, benefits, working conditions and job security.”
+    
+            The labor relations board is expected to certify the results next week, after which contract negotiations with The Walt Disney Company will begin. Equity said it does not know how long the bargaining process will take, adding Disney has been “relatively cooperative throughout this process.”
+    
+            “We have a long, positive relationship with The Walt Disney Company, both at Walt Disney World and at Disney Theatricals, and we look forward to establishing a similarly productive relationship with the Disneyland Resort,” an Equity spokesperson told CNN.
+    
+            A Disneyland Resort spokesperson told CNN it is too soon for the company to comment on the unionization vote because the election has yet to be certified. “Whatever the outcome, we respect that our cast members had the opportunity to have their voices heard,” the spokesperson said.
+    
+            On the other side of the country, Disney World character actors have been represented by Teamsters since the 1980s. More than 400 actors, stunt performers and singers unionized under Equity in 1990 at the theme park in Orlando, Florida. Today, Equity estimates they represent around 800 cast members at Disney World.",CNN,19/05/2024,"['You can add Mickey, Minnie, Donald and Goofy to the growing list of workers seeking better employment benefits.', 'After three days of voting last week, 1,700 Disneyland Resort cast members who play characters around the theme park in Anaheim, California, as well as perform at parades, voted to unionize under Actors’ Equity Association, the union announced Saturday night.', 'Equity described the vote as “a landslide victory,” with 953 cast members favoring unionization and 258 opposed.', 'The group had announced a union organizing effort in February before filing for a vote with the National Labor Relations Board in April.', 'There are more than 21,000 Disneyland “cast member” employees, who are represented by more than a dozen unions.', 'Those unionized jobs include workers in retail, food service, security, pyrotechnic, and hair and makeup.', 'Until now, employees dressing up as iconic Disney characters like Mickey Mouse, Cinderella, Snow White and Captain Hook have been excluded.', '“These workers are on the front lines of the Guest experience; they’re the human beings who create lifelong memories when your kids hug a character, or when your family watches a parade roll by the castle,” said Actors’ Equity Association President Kate Shindle in a statement. “', 'The next step will be to collaborate with them about improving health & safety, wages, benefits, working conditions and job security.”', 'The labor relations board is expected to certify the results next week, after which contract negotiations with The Walt Disney Company will begin.', 'Equity said it does not know how long the bargaining process will take, adding Disney has been “relatively cooperative throughout this process.”', '“We have a long, positive relationship with The Walt Disney Company, both at Walt Disney World and at Disney Theatricals, and we look forward to establishing a similarly productive relationship with the Disneyland Resort,” an Equity spokesperson told CNN.', 'A Disneyland Resort spokesperson told CNN it is too soon for the company to comment on the unionization vote because the election has yet to be certified. “', 'Whatever the outcome, we respect that our cast members had the opportunity to have their voices heard,” the spokesperson said.', 'On the other side of the country, Disney World character actors have been represented by Teamsters since the 1980s.', 'More than 400 actors, stunt performers and singers unionized under Equity in 1990 at the theme park in Orlando, Florida.', 'Today, Equity estimates they represent around 800 cast members at Disney World.']",0.2841792646015633,"The next step will be to collaborate with them about improving health & safety, wages, benefits, working conditions and job security.”",,0.9347304344177246,"“We have a long, positive relationship with The Walt Disney Company, both at Walt Disney World and at Disney Theatricals, and we look forward to establishing a similarly productive relationship with the Disneyland Resort,” an Equity spokesperson told CNN.",,2024-05-23
+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?,2024-05-23
+Microsoft Copilot+ Recall feature 'privacy nightmare',https://www.bbc.co.uk/news/articles/cpwwqp6nx14o,2024-05-21T23:00:11.876Z,"The UK data watchdog says it is ""making enquiries with Microsoft"" over a new feature that can take screenshots of your laptop every few seconds. Microsoft says Recall, which will store encrypted snapshots locally on your computer, is exclusive to its forthcoming Copilot+ PCs. But the Information Commissioner's Office (ICO) says it is contacting Microsoft for more information on the safety of the product, which privacy campaigners have called a potential ""privacy nightmare"". Microsoft says Recall is an ""optional experience"" and it is committed to privacy and security. According to its website, users ""can limit which snapshots Recall collects"". ""Recall data is only stored locally and not accessed by Microsoft or anyone who does not have device access,"" the firm said in a statement. And it said a would-be hacker would need to gain physical access to your device, unlock it and sign in before they could access saved screenshots. But an ICO spokesperson said firms must ""rigorously assess and mitigate risks to peoples' rights and freedoms"" before bringing any new products to market. ""We are making enquiries with Microsoft to understand the safeguards in place to protect user privacy,"" they said. Recall has the ability to search through all users' past activity including files, photos, emails and browsing history. Many devices can already do this - but Recall also takes screenshots every few seconds and searches these too. ""This could be a privacy nightmare,"" said Dr Kris Shrishak, an adviser on AI and privacy.  ""The mere fact that screenshots will be taken during use of the device could have a chilling effect on people."" Microsoft says it ""built privacy into Recall’s design"" from the beginning, and users will have control over what is captured.  For example, users can opt out of capturing certain websites, and private browsing on Microsoft's own Edge browser will not be captured. ""People might avoid visiting certain websites and accessing documents, especially confidential documents, when Microsoft is taking screenshots every few seconds,"" said Dr Shrishak. And Daniel Tozer, data and privacy expert at Keystone Law, said the system reminded him of dystopian Netflix programme Black Mirror. ""Microsoft will need a lawful basis to record and re-display the user’s personal information,"" he said. ""There may well be information on the screen which is proprietary or confidential to the user’s employer; will the business be happy for Microsoft to be recording this? And he asked how consent would work for people appearing on the screen on a video call or photo.  ""Are they going to be given the choice as to whether to consent to that? User and access controls will be a key issue on which Microsoft will doubtless be focussing,"" he said. Meanwhile, Jen Caltrider, who leads a privacy team at Mozilla, suggested the plans meant someone who knew your password could now access your history in more detail. ""[This includes] law enforcement court orders, or even from Microsoft if they change their mind about keeping all this content local and not using it for targeted advertising or training their AIs down the line,"" she said. According to Microsoft, Recall will not moderate or remove information from screenshots which contain passwords or financial account information. ""That data may be in snapshots that are stored on your device, especially when sites do not follow standard internet protocols like cloaking password entry,"" said Ms Caltrider. ""I wouldn’t want to use a computer running Recall to do anything I wouldn’t do in front of a busload of strangers. ""That means no more logging into financial accounts, looking up sensitive health information, asking embarrassing questions, or even looking up information about a domestic violence shelter, reproductive health clinic, or immigration lawyer."" ",BBC,21/05/2024,"['The UK data watchdog says it is ""making enquiries with Microsoft"" over a new feature that can take screenshots of your laptop every few seconds.', 'Microsoft says Recall, which will store encrypted snapshots locally on your computer, is exclusive to its forthcoming Copilot+ PCs.', 'But the Information Commissioner\'s Office (ICO) says it is contacting Microsoft for more information on the safety of the product, which privacy campaigners have called a potential ""privacy nightmare"".', 'Microsoft says Recall is an ""optional experience"" and it is committed to privacy and security.', 'According to its website, users ""can limit which snapshots Recall collects"". ""', 'Recall data is only stored locally and not accessed by Microsoft or anyone who does not have device access,"" the firm said in a statement.', 'And it said a would-be hacker would need to gain physical access to your device, unlock it and sign in before they could access saved screenshots.', 'But an ICO spokesperson said firms must ""rigorously assess and mitigate risks to peoples\' rights and freedoms"" before bringing any new products to market. ""', 'We are making enquiries with Microsoft to understand the safeguards in place to protect user privacy,"" they said.', ""Recall has the ability to search through all users' past activity including files, photos, emails and browsing history."", 'Many devices can already do this - but Recall also takes screenshots every few seconds and searches these too. ""', 'This could be a privacy nightmare,"" said Dr Kris Shrishak, an adviser on AI and privacy. ""', 'The mere fact that screenshots will be taken during use of the device could have a chilling effect on people.""', 'Microsoft says it ""built privacy into Recall’s design"" from the beginning, and users will have control over what is captured.', 'For example, users can opt out of capturing certain websites, and private browsing on Microsoft\'s own Edge browser will not be captured. ""', 'People might avoid visiting certain websites and accessing documents, especially confidential documents, when Microsoft is taking screenshots every few seconds,"" said Dr Shrishak.', 'And Daniel Tozer, data and privacy expert at Keystone Law, said the system reminded him of dystopian Netflix programme Black Mirror. ""', 'Microsoft will need a lawful basis to record and re-display the user’s personal information,"" he said. ""', 'There may well be information on the screen which is proprietary or confidential to the user’s employer; will the business be happy for Microsoft to be recording this?', 'And he asked how consent would work for people appearing on the screen on a video call or photo. ""', 'Are they going to be given the choice as to whether to consent to that?', 'User and access controls will be a key issue on which Microsoft will doubtless be focussing,"" he said.', 'Meanwhile, Jen Caltrider, who leads a privacy team at Mozilla, suggested the plans meant someone who knew your password could now access your history in more detail. ""[', 'This includes] law enforcement court orders, or even from Microsoft if they change their mind about keeping all this content local and not using it for targeted advertising or training their AIs down the line,"" she said.', 'According to Microsoft, Recall will not moderate or remove information from screenshots which contain passwords or financial account information. ""', 'That data may be in snapshots that are stored on your device, especially when sites do not follow standard internet protocols like cloaking password entry,"" said Ms Caltrider. ""', 'I wouldn’t want to use a computer running Recall to do anything I wouldn’t do in front of a busload of strangers. ""', 'That means no more logging into financial accounts, looking up sensitive health information, asking embarrassing questions, or even looking up information about a domestic violence shelter, reproductive health clinic, or immigration lawyer.""']",0.142712819536428,"And it said a would-be hacker would need to gain physical access to your device, unlock it and sign in before they could access saved screenshots.","That means no more logging into financial accounts, looking up sensitive health information, asking embarrassing questions, or even looking up information about a domestic violence shelter, reproductive health clinic, or immigration lawyer.""",-0.9773996074994404,,"This could be a privacy nightmare,"" said Dr Kris Shrishak, an adviser on AI and privacy. """,2024-05-23
+Bargain-hungry Americans are flocking to Temu and making its Chinese owner very rich,https://edition.cnn.com/2024/05/23/business/pinduoduo-temu-us-ecommerce-bargains-intl-hnk/index.html,"
+  Updated
+        5:05 AM EDT, Thu May 23, 2024
+    ","PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers swarm its bargain shopping apps for low-cost products.
+    
+            The Shanghai-based company reported Wednesday that net profit soared 246% to 28 billion yuan ($3.9 billion) in the first quarter of 2024, more than double the average analyst estimate of 12.62 billion yuan ($1.7 billion), according to LSEG data.
+    
+            Revenue jumped 131% to 86.81 billion yuan ($12 billion) in the period, also comfortably beating expectations. Nomura analysts said that the growth momentum was coming from “both home and abroad.”
+    
+            The strong results boosted shares of PDD’s (PDD) Nasdaq-listed shares Wednesday, propelling its market value past $204 billion and making it China’s most valuable e-commerce company, ahead of Alibaba (BABA).
+    
+            Hangzhou-based Alibaba has long dominated China’s online industry, but it has been facing stiff competition from rivals and increased regulatory scrutiny from Beijing.
+    
+            PDD was founded by Colin Huang in 2015, who stepped down in 2021 as chairman, to pursue a personal interest in life sciences. He is still the company’s biggest shareholder, with a stake of 25% stake, and ranks as China’s second richest man with a fortune of nearly $52 billion, according to the Bloomberg Billionaires Index.
+    
+            Temu, PDD’s international app, was launched in 2022, and as of last November it had acquired nearly 17% of the US online discount store market, according to Earnest Analytics.
+    
+            Its Pinduoduo app also continues to grow in China. By mid-2023, Pinduoduo had seen its e-commerce market share rise to 19% from 7.2% in 2019, according to Chinese analytics firm Yinma Data Research. It trailed behind Alibaba’s Taobao and Tmall, which owned a combined 44%, and JD.com, which held 24%.
+    
+            Just eight years old, the startup has successfully leveraged a shift in consumption patterns in the world’s second largest economy.
+    
+            As the Chinese economy slows and job prospects worsen, people are penny-pinching on everything from groceries to electronics and cars. Discounts and special deals are being offered across brands, including Western companies that primarily target premium markets.
+    
+            American consumers are also becoming more price aware after two years of elevated inflation. A slew of retailers have announced price cuts in recent weeks to entice people to spend money on things like new clothes and decorative items for the home.
+    
+            Several investment banks and brokerage firms, including Morgan Stanley and Nomura, increased their price targets for PDD stock after it disclosed the results.
+    
+            But the company acknowledged that the competition is going to get more intense as rivals try harder to lure consumers with more price cuts.
+    
+            “We are seeing that our industry peers have significantly stepped up their efforts,” said Lei Chen, co-CEO and chairman of PDD at an earnings call on Wednesday.
+    
+            Chen said the company must do its best to keep up with consumer market changes.
+    
+            “In addition to offering more savings, we are also expected to meet consumers’ needs for higher quality products,” he said.
+    
+            PDD is also facing potential regulatory hurdles in international markets as it expands globally.
+    
+            Earlier this month, a European consumer group accused Temu of using “manipulative techniques” to get consumers to spend more than they might want, and called for a regulatory probe into the app.
+    
+            Last month, South Korean regulators investigated Temu on suspicion of false advertising and unfair ppractices, according to the Yonhap news agency.
+    
+            Chen said Wednesday that the company is “actively” engaging with regulatory bodies in various countries with “a learning mindset.”
+    
+            “As our business grows, consumers and regulatory bodies are holding us accountable for ever-higher compliance requirements and also the merchants doing business with us,” he said.",CNN,23/05/2024,"['PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers swarm its bargain shopping apps for low-cost products.', 'The Shanghai-based company reported Wednesday that net profit soared 246% to 28 billion yuan ($3.9 billion) in the first quarter of 2024, more than double the average analyst estimate of 12.62 billion yuan ($1.7 billion), according to LSEG data.', 'Revenue jumped 131% to 86.81 billion yuan ($12 billion) in the period, also comfortably beating expectations.', 'Nomura analysts said that the growth momentum was coming from “both home and abroad.”', 'The strong results boosted shares of PDD’s (PDD) Nasdaq-listed shares Wednesday, propelling its market value past $204 billion and making it China’s most valuable e-commerce company, ahead of Alibaba (BABA).', 'Hangzhou-based Alibaba has long dominated China’s online industry, but it has been facing stiff competition from rivals and increased regulatory scrutiny from Beijing.', 'PDD was founded by Colin Huang in 2015, who stepped down in 2021 as chairman, to pursue a personal interest in life sciences.', 'He is still the company’s biggest shareholder, with a stake of 25% stake, and ranks as China’s second richest man with a fortune of nearly $52 billion, according to the Bloomberg Billionaires Index.', 'Temu, PDD’s international app, was launched in 2022, and as of last November it had acquired nearly 17% of the US online discount store market, according to Earnest Analytics.', 'Its Pinduoduo app also continues to grow in China.', 'By mid-2023, Pinduoduo had seen its e-commerce market share rise to 19% from 7.2% in 2019, according to Chinese analytics firm Yinma Data Research.', 'It trailed behind Alibaba’s Taobao and Tmall, which owned a combined 44%, and JD.com, which held 24%.', 'Just eight years old, the startup has successfully leveraged a shift in consumption patterns in the world’s second largest economy.', 'As the Chinese economy slows and job prospects worsen, people are penny-pinching on everything from groceries to electronics and cars.', 'Discounts and special deals are being offered across brands, including Western companies that primarily target premium markets.', 'American consumers are also becoming more price aware after two years of elevated inflation.', 'A slew of retailers have announced price cuts in recent weeks to entice people to spend money on things like new clothes and decorative items for the home.', 'Several investment banks and brokerage firms, including Morgan Stanley and Nomura, increased their price targets for PDD stock after it disclosed the results.', 'But the company acknowledged that the competition is going to get more intense as rivals try harder to lure consumers with more price cuts.', '“We are seeing that our industry peers have significantly stepped up their efforts,” said Lei Chen, co-CEO and chairman of PDD at an earnings call on Wednesday.', 'Chen said the company must do its best to keep up with consumer market changes.', '“In addition to offering more savings, we are also expected to meet consumers’ needs for higher quality products,” he said.', 'PDD is also facing potential regulatory hurdles in international markets as it expands globally.', 'Earlier this month, a European consumer group accused Temu of using “manipulative techniques” to get consumers to spend more than they might want, and called for a regulatory probe into the app.', 'Last month, South Korean regulators investigated Temu on suspicion of false advertising and unfair ppractices, according to the Yonhap news agency.', 'Chen said Wednesday that the company is “actively” engaging with regulatory bodies in various countries with “a learning mindset.”', '“As our business grows, consumers and regulatory bodies are holding us accountable for ever-higher compliance requirements and also the merchants doing business with us,” he said.']",0.1995344873287677,"The strong results boosted shares of PDD’s (PDD) Nasdaq-listed shares Wednesday, propelling its market value past $204 billion and making it China’s most valuable e-commerce company, ahead of Alibaba (BABA).","Last month, South Korean regulators investigated Temu on suspicion of false advertising and unfair ppractices, according to the Yonhap news agency.",0.4372125102414025,"By mid-2023, Pinduoduo had seen its e-commerce market share rise to 19% from 7.2% in 2019, according to Chinese analytics firm Yinma Data Research.","As the Chinese economy slows and job prospects worsen, people are penny-pinching on everything from groceries to electronics and cars.",2024-05-23
+It looks like someone tried to steal Graceland,https://edition.cnn.com/2024/05/23/business/someone-tried-to-steal-graceland/index.html,"
+  Published
+        7:21 AM EDT, Thu May 23, 2024
+    ","We can’t be 100% sure that an obscure lending company just tried to steal Graceland. But a Tennessee judge on Wednesday said, essentially, it sure looks like that’s what happened.
+    
+            It is a truly bananas series of events that led to Graceland, a beloved tourist attraction in Memphis, getting pulled from the auction block just one day before it was scheduled for a foreclosure sale.
+    
+            ICYMI: Elvis Presley’s family home — the second most-visited residence in America after the White House — was set to go up for auction this Thursday, under the pretext that the late singer’s daughter, Lisa Marie Presley, who died in 2023, failed to pay back a $3.8 million loan she’d secured from a private lender called Naussany Investments and Private Lending.
+    
+            Naussany claimed that the house was part of the collateral on that loan, and payment was due, so get ready to kiss Graceland goodbye.
+    
+            But earlier this month, Riley Keough, Elvis’s granddaughter and the sole owner of Graceland, swooped in to halt the sale.
+    
+            Keough, an actor known for her roles in “Mad Max Fury Road” and “Daisy Jones & the Six,” filed a lawsuit saying, essentially, Naussany’s claims were all garbage.
+    
+            Keough contends there was no such loan made to her mother. And that Naussany isn’t even a real company.
+    
+            Her lawsuit says that the documents Naussany presented, including a 2018 notarized promissory note signed by Lisa Marie Presley, were forged. Even the notary public whose name appeared on the disputed document, told the court in an affidavit that no, they’d never notarized Lisa Marie Presley’s signature.
+    
+            On Wednesday, Shelby County Chancellor JoeDae Jenkins said that the affidavit was sufficient evidence to delay the foreclosure until a hearing can determine the facts. But Jenkins also suggested pretty overtly that someone, somewhere, did some frauds.
+    
+            “It appears you’ll be successful on the merits,” Jenkins told Keough’s lawyer Wednesday.
+    
+            When CNN attempted to reach Naussany Investments, the number was no longer in service. The business was listed in a court document from Keough’s attorney as being located in Kimberling City, Missouri, but CNN was unable to locate a business in the state of Missouri by that name. CNN was also unable to locate a business by that name when searching nationwide.
+    
+            Then, on Wednesday, a person identified as a representative of Naussany Investments released a grammatically challenged and somewhat confusing statement saying they “will be withdrawing all claims with prejudice.”
+    
+            “Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and Naussany Investments & Private Lending will not acquire to proceed,” the company said.
+    
+            (“Not acquire to proceed?”)
+    
+            It added: “There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”
+    
+            (LMP, presumably, is Lisa Marie Presley. As for “mis habits,” your guess is as good as mine.)
+    
+            Bottom line: If Keough is right and this is a case of forgery and fraud, then it’s surely a contender for one of the all-time most foolish. (And, as we know, only fools rush in.)
+    
+            Scammers and predatory lenders pull off all kinds of immoral and illegal schemes all the time, but most of them have the good sense not to prey on the multimillion-dollar estate of one the world’s most beloved cultural icons. If you pitched a movie script about it, the writers of the National Treasure movies would laugh you out of the room.",CNN,23/05/2024,"['We can’t be 100% sure that an obscure lending company just tried to steal Graceland.', 'But a Tennessee judge on Wednesday said, essentially, it sure looks like that’s what happened.', 'It is a truly bananas series of events that led to Graceland, a beloved tourist attraction in Memphis, getting pulled from the auction block just one day before it was scheduled for a foreclosure sale.', 'ICYMI: Elvis Presley’s family home — the second most-visited residence in America after the White House — was set to go up for auction this Thursday, under the pretext that the late singer’s daughter, Lisa Marie Presley, who died in 2023, failed to pay back a $3.8 million loan she’d secured from a private lender called Naussany Investmentsand Private Lending.', 'Naussany claimed that the house was part of the collateral on that loan, and payment was due, so get ready to kiss Graceland goodbye.', 'But earlier this month, Riley Keough, Elvis’s granddaughter and the sole owner of Graceland, swooped in to halt the sale.', 'Keough, an actor known for her roles in “Mad Max Fury Road” and “Daisy Jones& the Six,” filed a lawsuit saying, essentially, Naussany’s claims were all garbage.', 'Keough contends there was no such loan made to her mother.', 'And that Naussany isn’t even a real company.', 'Her lawsuit says that the documents Naussany presented, including a 2018 notarized promissory note signed by Lisa Marie Presley, were forged.', 'Even the notary public whose name appeared on the disputed document, told the court in an affidavit that no, they’d never notarized Lisa Marie Presley’s signature.', 'On Wednesday, Shelby County Chancellor JoeDae Jenkins said that the affidavit was sufficient evidence to delay the foreclosure until a hearing can determine the facts.', 'But Jenkins also suggested pretty overtly that someone, somewhere, did some frauds.', '“It appears you’ll be successful on the merits,” Jenkins told Keough’s lawyer Wednesday.', 'When CNN attempted to reach Naussany Investments, the number was no longer in service.', 'The business was listed in a court document from Keough’s attorney as being located in Kimberling City, Missouri, but CNN was unable to locate a business in the state of Missouri by that name.', 'CNN was also unable to locate a business by that name when searching nationwide.', 'Then, on Wednesday, a personidentified as a representative ofNaussany Investments released a grammatically challenged and somewhat confusing statement saying they “will be withdrawing all claims with prejudice.”', '“Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states andNaussanyInvestments & Private Lending will not acquire to proceed,” the company said.', '(“Not acquire to proceed?”)', 'It added: “There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”', '(LMP, presumably, is Lisa Marie Presley.', 'As for “mis habits,” your guess is as good as mine.)', 'Bottom line: If Keough is right and this is a case of forgery and fraud, then it’s surely a contender for one of the all-time most foolish. (', 'And, as we know, only fools rush in.)', 'Scammers and predatory lenders pull off all kinds of immoral and illegal schemes all the time, but most of them have the good sense not to prey on the multimillion-dollar estate of one the world’s most beloved cultural icons.', 'If you pitched a movie script about it, the writers of the National Treasure movies would laugh you out of the room.']",-0.0057954144494961,"“It appears you’ll be successful on the merits,” Jenkins told Keough’s lawyer Wednesday.","Keough, an actor known for her roles in “Mad Max Fury Road” and “Daisy Jones& the Six,” filed a lawsuit saying, essentially, Naussany’s claims were all garbage.",0.0208772122859954,"“It appears you’ll be successful on the merits,” Jenkins told Keough’s lawyer Wednesday.","ICYMI: Elvis Presley’s family home — the second most-visited residence in America after the White House — was set to go up for auction this Thursday, under the pretext that the late singer’s daughter, Lisa Marie Presley, who died in 2023, failed to pay back a $3.8 million loan she’d secured from a private lender called Naussany Investmentsand Private Lending.",2024-05-23
+BuzzFeed stock soars after Vivek Ramaswamy acquires activist stake,https://edition.cnn.com/2024/05/22/investing/buzzfeed-stock-vivek-ramaswamy-activist-stake/index.html,"
+  Updated
+        7:40 PM EDT, Wed May 22, 2024
+    ","BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy.
+    
+            Shares of BuzzFeed gained about 20% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company. The stock popped more than 82% earlier in the day at its highs.
+    
+            “Stay tuned,” Ramaswamy told CNN through spokesperson Tricia McLaughlin.
+    
+            In a statement, BuzzFeed Inc said: “BuzzFeed is purposely structured to protect its editorial integrity. We are always open to hearing ideas from our shareholders.
+    
+            Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.
+    
+            He also seeks a “shift in the Company’s strategy,” the filing said.
+    
+            Shares of BuzzFeed have plummeted roughly 92% since its initial public offering in 2021, though it remains above its record low closing price of 67 cents per share.
+    
+            BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.
+    
+            The company in February sold Complex Networks for $108.6 million, after purchasing it for $300 million three years ago, as part of its effort to slash costs while improving the company’s profitability. BuzzFeed’s portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its “Hot Ones” YouTube series.
+    
+            Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company’s headcount by 15%.",CNN,22/05/2024,"['BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy.', 'Shares of BuzzFeed gained about 20% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company.', 'The stock popped more than 82% earlier in the day at its highs.', '“Stay tuned,” Ramaswamy told CNN through spokesperson Tricia McLaughlin.', 'In a statement, BuzzFeed Inc said: “BuzzFeed is purposely structured to protect its editorial integrity.', 'We are always open to hearing ideas from our shareholders.', 'Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.', 'He also seeks a “shift in the Company’s strategy,” the filing said.', 'Shares of BuzzFeed have plummeted roughly 92% since its initial public offering in 2021, though it remains above its record low closing price of 67 cents per share.', 'BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.', 'The company in February sold Complex Networks for $108.6 million, after purchasing it for $300 million three years ago, as part of its effort to slash costs while improving the company’s profitability.', 'BuzzFeed’s portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its “Hot Ones” YouTube series.', 'Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company’s headcount by 15%.']",0.2875579407818034,"Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.",,0.2509742453694343,Shares of BuzzFeed gained about 20% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company.,"BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.",2024-05-23
+Elon Musk says AI will take all our jobs,https://edition.cnn.com/2024/05/23/tech/elon-musk-ai-your-job/index.html,"
+  Published
+        2:42 PM EDT, Thu May 23, 2024
+    ","Elon Musk says artificial intelligence will take all our jobs and that’s not necessarily a bad thing.
+    
+            “Probably none of us will have a job,” Musk said about AI at a tech conference on Thursday.
+    
+            While speaking remotely via webcam at VivaTech 2024 in Paris, Musk described a future where jobs would be “optional.”
+    
+            “If you want to do a job that’s kinda like a hobby, you can do a job,” Musk said. “But otherwise, AI and the robots will provide any goods and services that you want.”
+    
+            For this scenario to work, he said, there would need to be “universal high income” – not to be confused with universal basic income, although he did not share what that could look like. (UBI refers to the government giving a certain amount of money to everyone regardless of how much they earn.)
+    
+            “There would be no shortage of goods or services,” he said.
+    
+            AI capabilities have surged over the past few years, fast enough that regulators, companies and consumers are still figuring out how to use the technology responsibly. Concerns also continue to mount over how various industries and jobs will change as AI proliferates in the market.
+    
+            In January, researchers at MIT’s Computer Science and Artificial Intelligence Lab found workplaces are adopting AI much more slowly than some had expected and feared. The report also said the majority of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time.
+    
+            Experts also largely believe that many jobs that require a high emotional intelligence and human interaction will not need replacing, such as mental health professionals, creatives and teachers.
+    
+            Musk has been outspoken about his concerns around AI. During the keynote on Thursday, he called the technology his biggest fear. He cited the “Culture Book Series” by Ian Banks, a utopian fictionalized look at a society run by advanced technology, as the most realistic and “the best envisioning of a future AI.”
+    
+            In a job-free future, though, Musk questioned whether people would feel emotionally fulfilled.
+    
+            “The question will really be one of meaning  – if the computer and robots can do everything better than you, does your life have meaning?” he said.  “I do think there’s perhaps still a role for humans in this – in that we may give AI meaning.”
+    
+            He also used his stage time to urge parents to limit the amount of social media that children can see because “they’re being programmed by a dopamine-maximizing AI.”",CNN,23/05/2024,"['Elon Musk says artificial intelligence will take all our jobs and that’s not necessarily a bad thing.', '“Probably none of us will have a job,” Musk said about AI at a tech conference on Thursday.', 'While speaking remotely via webcam at VivaTech 2024 in Paris, Musk described a future where jobs would be “optional.”', '“If you want to do a job that’s kinda like a hobby, you can do a job,” Musk said. “', 'But otherwise, AI and the robots will provide any goods and services that you want.”', 'For this scenario to work, he said, there would need to be “universal high income” – not to be confused with universal basic income, although he did not share what that could look like. (', 'UBI refers to the government giving a certain amount of money to everyone regardless of how much they earn.)', '“There would be no shortage of goods or services,” he said.', 'AI capabilities have surged over the past few years, fast enough that regulators, companies and consumers are still figuring out how to use the technology responsibly.', 'Concerns also continue to mount over how various industries and jobs will change as AI proliferates in the market.', 'In January, researchers at MIT’s Computer Science and Artificial Intelligence Lab found workplaces are adopting AI much more slowly than some had expected and feared.', 'The report also said the majority of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time.', 'Experts also largely believe that many jobs that require a high emotional intelligence and human interaction will not need replacing, such as mental health professionals, creatives and teachers.', 'Musk has been outspoken about his concerns around AI.', 'During the keynote on Thursday, he called the technology his biggest fear.', 'He cited the “Culture Book Series” by Ian Banks, a utopian fictionalized look at a society run by advanced technology, as the most realistic and “the best envisioning of a future AI.”', 'In a job-free future, though, Musk questioned whether people would feel emotionally fulfilled.', '“The question will really be one of meaning – if the computer and robots can do everything better than you, does your life have meaning?”', 'he said. “', 'I do think there’s perhaps still a role for humans in this – in that we may give AI meaning.”', 'He also used his stage time to urge parents to limit the amount of social media that children can see because “they’re being programmed by a dopamine-maximizing AI.”']",0.1439954327743964,"He cited the “Culture Book Series” by Ian Banks, a utopian fictionalized look at a society run by advanced technology, as the most realistic and “the best envisioning of a future AI.”",The report also said the majority of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time.,0.1642820715904235,"AI capabilities have surged over the past few years, fast enough that regulators, companies and consumers are still figuring out how to use the technology responsibly.",The report also said the majority of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time.,2024-05-23
+The Washington Post publisher disclosed the paper lost $77 million last year. Here’s his plan to turn it around,https://edition.cnn.com/2024/05/23/media/washington-post-will-lewis-turnaround-plan/index.html,"
+  Published
+        7:02 AM EDT, Thu May 23, 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.
+    
+            On Wednesday, Will Lewis, the newly minted publisher and chief executive of The Washington Post, strode on stage before gathered staffers at the company’s D.C. headquarters to outline his vision for shepherding the iconic newspaper into a financially prosperous future.
+    
+            Dressed in a navy blue blazer and button down shirt, along with his trademark sneakers (the Brit is known to be partial to the casual footwear), Lewis first delivered the cold hard reality to his assembled workforce. He candidly explained the depths of The Post’s recent financial woes, revealing that it had lost $77 million over the last year and seen a dramatic 50% drop in audience since the highs of 2020.
+    
+            “To speak candidly,” Lewis told staffers at the top of the 90-minute meeting, “we are in a hole, and we have been for some time.”
+    
+            But Lewis said he has a plan to rescue the renowned newspaper that has broken some of the biggest stories of our time and turned its most influential journalists into household names. That plan, officially dubbed the “build it” phase of the turnaround project (which follows the “say it” and “fix it” phases), was defined by a pyramid shared with staffers in a Powerpoint presentation.
+    
+            The pyramid, aimed at helping employees visualize new business opportunities, showed the traditional subscription membership stacked along with new subscription and payment offerings for readers.
+    
+            Among the new revenue streams are “flexible payments,” which were described to staffers as “frictionless payments” that would target a “likely untapped” audience. In other words, a person who may be interested in reading a single story on The Post’s website will soon be able to make that one-time purchase via a service like Apple Pay. I’m told that feature will, in fact, start to roll out next quarter.
+    
+            Additional subscription tiers, dubbed Post Pro and Post Plus, are also in the works, targeting working professionals and diehard readers with additional products, including a forthcoming newsletter focused on the climate and economy. The plan follows similar premium subscription offerings from the likes of Axios and POLITICO, which have introduced “pro” plans that have helped tap into new revenue streams.
+    
+            “We think that we’ve been a one-size-fits-all organization for too long, so we’re excited to create a new set of consumer and professional products that better meets the needs of our multi-faceted audiences,” Karl Wells, chief growth officer at The Post, explained.
+    
+            Lewis’ plan, however, included more than just revamping The Post’s subscription offerings. Silicon Valley veteran Vineet Khosla, the newspaper’s chief technology officer, appeared onstage, speaking to staffers about the need to integrate artificial intelligence into The Post’s newsroom.
+    
+            “I totally get that there is a huge fear of A.I. everywhere,” he said. “But I want us to go beyond the fear. The way I see us operate is we have A.I. everywhere. We have A.I. in our newsroom; we have A.I. with our consumers; we have A.I. in the business… Start thinking of it as a copilot.”
+    
+            The experimentation with machine language models is already underway. The Post has started using A.I.-generated voices to allow people to listen to select newsletters. And, last week, Executive Editor Sally Buzbee announced in an internal memo an expanded version of article takeaways, which will be generated by A.I. and edited by humans in the newsroom.
+    
+            At the same time, Kathy Baird, The Post’s chief communications officer, told staffers at the Wednesday meeting that the newspaper plans to strengthen audience relationships with its journalists, aiming to promote key journalists that create its reporting and connect them with readers. While The Post clearly plans to bet big on infusing its products with A.I., it wants to emphasize the human element of its journalism.
+    
+            Whether the multi-pronged initiative is enough to turn The Post around, of course, remains to be seen. It goes without saying that Lewis and the newspaper’s leadership team have their work cut out for them, as evidenced by the poor state of affairs that Lewis himself disclosed to staffers. But the new publisher voiced confidence that these measures will put The Post on track for success.
+    
+            “I really hope at some point in the future, when you look back on this day,” he told staffers, “it’s actually quite a significant day in the history of our company.”",CNN,23/05/2024,"['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.', 'On Wednesday,Will Lewis, the newly minted publisher and chief executive ofThe Washington Post, strode on stage before gathered staffers at the company’s D.C. headquarters to outline his vision for shepherding the iconic newspaper into a financially prosperous future.', 'Dressed in a navy blue blazer and button down shirt, along with his trademark sneakers (the Brit is known to be partial to the casual footwear), Lewis first delivered the cold hard reality to his assembled workforce.', 'He candidly explained the depths of The Post’s recent financial woes, revealing that it had lost $77 million over the last year and seen a dramatic 50% drop in audience since the highs of 2020.', '“To speak candidly,” Lewis told staffers at the top of the 90-minute meeting, “we are in a hole, and we have been for some time.”', 'But Lewis said he has a plan to rescue the renowned newspaper that has broken some of the biggest stories of our time and turned its most influential journalists into household names.', 'That plan, officially dubbed the “build it” phase of the turnaround project (which follows the “say it” and “fix it” phases), was defined by a pyramid shared with staffers in a Powerpoint presentation.', 'The pyramid, aimed at helping employees visualize new business opportunities, showed the traditional subscription membership stacked along with new subscription and payment offerings for readers.', 'Among the new revenue streams are “flexible payments,” which were described to staffers as “frictionless payments” that would target a “likely untapped” audience.', 'In other words, a person who may be interested in reading a single story on The Post’s website will soon be able to make that one-time purchase via a service likeApple Pay.', 'I’m told that feature will, in fact, start to roll out next quarter.', 'Additional subscription tiers, dubbed Post Pro and Post Plus, are also in the works, targeting working professionals and diehard readers with additional products, including a forthcoming newsletter focused on the climate and economy.', 'The plan follows similar premium subscription offerings from the likes ofAxiosandPOLITICO, whichhave introduced “pro” plans that have helped tap into new revenue streams.', '“We think that we’ve been a one-size-fits-all organization for too long, so we’re excited to create a new set of consumer and professional products that better meets the needs of our multi-faceted audiences,”Karl Wells, chief growth officer at The Post, explained.', 'Lewis’ plan, however, included more than just revamping The Post’s subscription offerings.', 'Silicon Valley veteranVineet Khosla, the newspaper’s chief technology officer, appeared onstage, speaking to staffers about the need to integrate artificial intelligence into The Post’s newsroom.', '“I totally get that there is a huge fear of A.I. everywhere,” he said. “', 'But I want us to go beyond the fear.', 'The way I see us operate is we have A.I. everywhere.', 'We have A.I. in our newsroom; we have A.I. with our consumers; we have A.I. in the business… Start thinking of it as a copilot.”', 'The experimentation with machine language models is already underway.', 'The Post has started using A.I.-generated voices to allow people to listen to select newsletters.', 'And, last week, Executive EditorSally Buzbeeannounced in an internal memo an expanded version of article takeaways, which will be generated by A.I. and edited by humans in the newsroom.', 'At the same time,Kathy Baird, The Post’s chief communications officer, told staffers at the Wednesday meeting that the newspaper plans to strengthen audience relationships with its journalists, aiming to promote key journalists that create its reporting and connect them with readers.', 'While The Post clearly plans to bet big on infusing its products with A.I., it wants to emphasize the human element of its journalism.', 'Whether the multi-pronged initiative is enough to turn The Post around, of course, remains to be seen.', 'It goes without saying that Lewis and the newspaper’s leadership team have their work cut out for them, as evidenced by the poor state of affairs that Lewis himself disclosed to staffers.', 'But the new publisher voiced confidence that these measures will put The Post on track for success.', '“I really hope at some point in the future, when you look back on this day,” he told staffers, “it’s actually quite a significant day in the history of our company.”']",0.1974623836324774,But the new publisher voiced confidence that these measures will put The Post on track for success.,"He candidly explained the depths of The Post’s recent financial woes, revealing that it had lost $77 million over the last year and seen a dramatic 50% drop in audience since the highs of 2020.",0.2043332815170288,"The plan follows similar premium subscription offerings from the likes ofAxiosandPOLITICO, whichhave introduced “pro” plans that have helped tap into new revenue streams.","He candidly explained the depths of The Post’s recent financial woes, revealing that it had lost $77 million over the last year and seen a dramatic 50% drop in audience since the highs of 2020.",2024-05-23
+Short seller alleges Oddity Tech is misleading investors,https://www.cnbc.com/2024/05/21/oddity-tech-short-seller-allegations.html,2024-05-21T21:13:59+0000,"In this articleA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be. The firm, Ningi Research, published a 50-page report that details a slew of allegations against the newly public retailer, including that it runs a fleet of stores in Israel and engages in deceptive billing practices. Ningi has a short position in Oddity but didn't disclose the size of that position.  ""ODDITY fundamentally rejects the short seller report. The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation,"" a company spokesperson wrote in an email to CNBC.Shares of Oddity fell roughly 7% Tuesday.Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online. It bills itself as a purely digital retailer that sells directly to consumers and has said it's seen outsized profits and growth that similar businesses have found difficult to achieve. Ningi Research alleged that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based. Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations. The firm said the stores are not part of a franchise but are instead owned by the company. Oddity said in a statement that the Israeli brick-and-mortar business, totaling 43 retail stores and six beauty schools, represents an ""immaterial"" part of the business — amounting to less than 5% of the company's net revenue, according to the spokesperson.""All of ODDITY's revenue outside of Israel is exclusively from online sales,"" the spokesperson said.The short seller also alleged that the ""secret"" to Oddity's digital growth is in subscriptions, which Ningi claimed can be difficult for consumers to get out of or cancel. ""The sell-side touts ODDITY's 'impressively high' repeat purchase rates of 100 percent, but we don't buy that. Our research indicates that customers unknowingly enter into non-cancelable plans, allowing ODDITY to recognize repeat purchases in the following quarters even though the customers don't want the product,"" the report said. The report also detailed a host of complaints from the Better Business Bureau and social media from customers who say they've been wrongfully charged.Oddity, through the spokesperson, said that the company ""firmly stands behind"" both its use of technology and its customer experience.""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in the statement.In October, an analyst asked the company about customer complaints and if the issue was happening ""at scale."" In response, CEO Oran Holtzman said it's ""important to understand the magnitude of the claim and we're talking about a fraction of a percent."" ""Any online company that operates even close to our sales will experience this, like there will always be a certain percentage who are unhappy,"" said Holtzman. He said that for a ""small portion"" of its customers, it can be easy to get confused about pre-authorizations made to their cards related to Oddity's ""try before you buy"" option, which allows a customer to try out a makeup item. ""Now, I don't think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn't fully read up like how it works and were confused,"" said Holtzman. ""We'll continue to work hard to educate those users and we've invested a lot in technology around it."" Oddity previously told CNBC that more than half of its business is from repeat customers.",CNBC,21/05/2024,"[""In this articleA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be."", 'The firm, Ningi Research, published a 50-page report that details a slew of allegations against the newly public retailer, including that it runs a fleet of stores in Israel and engages in deceptive billing practices.', ""Ningi has a short position in Oddity but didn't disclose the size of that position."", '""ODDITY fundamentally rejects the short seller report.', 'The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation,"" a company spokesperson wrote in an email to CNBC.Shares of Oddity fell roughly 7% Tuesday.', ""Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online."", ""It bills itself as a purely digital retailer that sells directly to consumers and has said it's seen outsized profits and growth that similar businesses have found difficult to achieve."", 'Ningi Research alleged that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based.', ""Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations."", 'The firm said the stores are not part of a franchise but are instead owned by the company.', 'Oddity said in a statement that the Israeli brick-and-mortar business, totaling 43 retail stores and six beauty schools, represents an ""immaterial"" part of the business — amounting to less than 5% of the company\'s net revenue, according to the spokesperson.', '""All of ODDITY\'s revenue outside of Israel is exclusively from online sales,"" the spokesperson said.', 'The short seller also alleged that the ""secret"" to Oddity\'s digital growth is in subscriptions, which Ningi claimed can be difficult for consumers to get out of or cancel.', '""The sell-side touts ODDITY\'s \'impressively high\' repeat purchase rates of 100 percent, but we don\'t buy that.', 'Our research indicates that customers unknowingly enter into non-cancelable plans, allowing ODDITY to recognize repeat purchases in the following quarters even though the customers don\'t want the product,"" the report said.', ""The report also detailed a host of complaints from the Better Business Bureau and social media from customers who say they've been wrongfully charged."", 'Oddity, through the spokesperson, said that the company ""firmly stands behind"" both its use of technology and its customer experience.', '""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in the statement.', 'In October, an analyst asked the company about customer complaints and if the issue was happening ""at scale.""', 'In response, CEO Oran Holtzman said it\'s ""important to understand the magnitude of the claim and we\'re talking about a fraction of a percent.', '""""Any online company that operates even close to our sales will experience this, like there will always be a certain percentage who are unhappy,"" said Holtzman.', 'He said that for a ""small portion"" of its customers, it can be easy to get confused about pre-authorizations made to their cards related to Oddity\'s ""try before you buy"" option, which allows a customer to try out a makeup item.', '""Now, I don\'t think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn\'t fully read up like how it works and were confused,"" said Holtzman. ""', ""We'll continue to work hard to educate those users and we've invested a lot in technology around it."", '""Oddity previously told CNBC that more than half of its business is from repeat customers.']",0.1573720586307279,Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations.,"""ODDITY fundamentally rejects the short seller report.",-0.0934156725804011,"""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in the statement.","""Now, I don't think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn't fully read up like how it works and were confused,"" said Holtzman. """,2024-05-23
+Meta created an AI advisory council that’s composed entirely of White men,https://edition.cnn.com/2024/05/23/tech/meta-ai-adivsory-council-white-men/index.html,"
+  Published
+        12:59 PM EDT, Thu May 23, 2024
+    ","Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy. The four-person advisory group is composed entirely of White men.
+    
+            The tech giant said the group, which includes tech entrepreneurs and investors, will periodically consult with Meta’s management “on strategic opportunities related to our technology and product roadmap.” The move comes as Meta plans to invest tens of billions of dollars this year in AI infrastructure, research and product development.
+    
+            The council includes Patrick Collison, the co-founder and chief executive of financial technology company Stripe; Nat Friedman, the tech investor and former CEO of GitHub; Tobi Lütke, the founder and CEO of online shopping firm Shopify; and Charlie Songhurst, the tech investor who formerly led corporate strategy and drove several key acquisitions at Microsoft. A Meta spokesperson confirmed the group will not be paid.
+    
+            Despite the group’s significant combined experience, Meta is already taking heat for failing to include women or people of color — or anyone else outside of the wealthy, White, male, Silicon Valley mold — in a group advising one of the world’s most powerful tech companies on a revolutionary new technology. The members of the group are also all in their 30s or 40s.
+    
+            The situation mirrors an incident last year at OpenAI when, in the wake of a leadership shakeup, it came under fire for appointing a board composed entirely of White men. Months later, OpenAI added three women directors to the board.
+    
+            Artificial intelligence is poised to disrupt nearly every area of life in coming years, from how we get hired and work to how we consume entertainment or search for information.
+    
+            The large language models that underpin AI systems are trained on vast troves of data, often written by humans and coming from the internet. Experts say that can create the risk of further spreading all-too-human biases already entrenched in internet discourse, but at a frighteningly larger scale.
+    
+            And historically, women and people of color have borne the brunt of harms from tech advancements — making their inclusion in decision-making processes all the more important. Already, women are increasingly becoming the targets of nonconsensual pornography enabled by AI. Meta’s AI-generated photo tool also faced backlash last month for its apparent struggles to create images of couples or friends from different racial backgrounds.
+    
+            Research released last year also suggested that Meta’s Facebook algorithm targets users with job postings based on gender stereotypes, although the company does not allow advertisers themselves to target ads based on gender.
+    
+            “When AI systems are used as the gatekeeper of opportunities, it is critical that the oversight of the design, development, and deployment of these systems reflect the communities that will be impacted by them,” Joy Buolamwini, the founder of the Algorithmic Justice League, an organization tracking the harms of artificial intelligence, told CNN earlier this year.
+    
+            Meta did not immediately respond to a request for comment on the council’s lack of diversity.",CNN,23/05/2024,"['Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy.', 'The four-person advisory group is composed entirely of White men.', 'The tech giant said the group, which includes tech entrepreneurs and investors, will periodically consult with Meta’s management “on strategic opportunities related to our technology and product roadmap.”', 'The move comes as Meta plans to invest tens of billions of dollars this year in AI infrastructure, research and product development.', 'The council includes Patrick Collison, the co-founder and chief executive of financial technology company Stripe; Nat Friedman, the tech investor and former CEO of GitHub; Tobi Lütke, the founder and CEO of online shopping firm Shopify; and Charlie Songhurst, the tech investor who formerly led corporate strategy and drove several key acquisitions at Microsoft.', 'A Meta spokesperson confirmed the group will not be paid.', 'Despite the group’s significant combined experience, Meta is already taking heat for failing to include women or people of color — or anyone else outside of the wealthy, White, male, Silicon Valley mold — in a group advising one of the world’s most powerful tech companies on a revolutionary new technology.', 'The members of the group are also all in their 30s or 40s.', 'The situation mirrors an incident last year at OpenAI when, in the wake of a leadership shakeup, it came under fire for appointing a board composed entirely of White men.', 'Months later, OpenAI added three women directors to the board.', 'Artificial intelligence is poised to disrupt nearly every area of life in coming years, from how we get hired and work to how we consume entertainment or search for information.', 'The large language models that underpin AI systems are trained on vast troves of data, often written by humans and coming from the internet.', 'Experts say that can create the risk offurther spreading all-too-human biasesalready entrenched in internet discourse, but at a frighteningly larger scale.', 'And historically, women and people of color have borne the brunt of harms from tech advancements — making their inclusion in decision-making processes all the more important.', 'Already, women are increasingly becoming the targets of nonconsensual pornography enabled by AI.', 'Meta’s AI-generated photo tool also faced backlash last month for its apparent struggles to create images of couples or friends from different racial backgrounds.', 'Research released last year also suggested that Meta’s Facebook algorithm targets users with job postings based on gender stereotypes, although the company does not allow advertisers themselves to target ads based on gender.', '“When AI systemsare used as the gatekeeper of opportunities, it is critical that the oversight of the design,development, and deployment of these systems reflect the communities that will be impacted by them,” Joy Buolamwini, the founder of theAlgorithmic Justice League, an organization tracking the harms of artificial intelligence, told CNN earlier this year.', 'Meta did not immediately respond to a request for comment on the council’s lack of diversity.']",0.0779287359566236,"“When AI systemsare used as the gatekeeper of opportunities, it is critical that the oversight of the design,development, and deployment of these systems reflect the communities that will be impacted by them,” Joy Buolamwini, the founder of theAlgorithmic Justice League, an organization tracking the harms of artificial intelligence, told CNN earlier this year.","Experts say that can create the risk offurther spreading all-too-human biasesalready entrenched in internet discourse, but at a frighteningly larger scale.",-0.9403713196516036,,Meta’s AI-generated photo tool also faced backlash last month for its apparent struggles to create images of couples or friends from different racial backgrounds.,2024-05-23
+Walmart and Target are slashing prices. What does that mean for inflation?,https://edition.cnn.com/2024/05/23/investing/premarket-stocks-trading-target-walmart-inflation/index.html,"
+  Published
+        7:23 AM EDT, Thu May 23, 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.
+    
+            Americans might be noticing markdowns for some everyday essentials during their weekly grocery runs. That doesn’t mean the battle against inflation is won.
+    
+            Walmart saw first-quarter sales at stores open at least a year climb 3.8% from the prior year, in part thanks to its ability to keep prices low even as inflation remains sticky. The largest retailer in the United States has been a mainstay for cash-strapped consumers shopping for deals on groceries and other merchandise.
+    
+            Now Walmart is taking things one step further. The superstore said on May 16 that it has rolled back prices on nearly 7,000 items in its stores, noting deflationary trends in general merchandise. Inflation during the first quarter increased at half the rate seen last year, it added.
+    
+            “Our combination of everyday low prices plus a large number of rollbacks is resonating” with consumers, Walmart CEO Doug McMillon said on a call with analysts.
+    
+            On Monday, Target slashed prices on more than 1,500 items, ranging from laundry detergent to cat food to sunscreen, with thousands more price cuts expected over the summer. For example, the price of a pack of 16 Huggies baby wipes fell to 99 cents from $1.19 and roasted nuts from the Good & Gather brand now cost $5.29 from $6.89, according to a press release.
+    
+            The company on Wednesday reported its fourth consecutive quarter of sales declines at stores open for at least one year as higher prices strain Target’s core middle-class customer base.
+    
+            Other retailers including Ikea and Aldi have also reduced prices in recent months.
+    
+            Some economists say that while price cuts from retailers are a welcome sign that inflation overall has come down, inflation in other areas also needs to ebb to reach the Federal Reserve’s 2% target.
+    
+            Price cuts at big box retailers are “going to be helpful, but we’re still going to have to see housing inflation come down, which is an issue, and wage growth continue to normalize,” said Preston Caldwell, senior US economist at Morningstar Research Services.
+    
+            The median price of a previously owned home in the United States grew 5.7% in April from a year earlier to $407,600, the highest April price on record. Wage gains slowed last month but are still above historical averages.
+    
+            The Fed’s progress on tamping down inflation stalled during the first quarter of this year, raising concerns that the central bank won’t cut rates until this fall or even next year. Unemployment remains at historic lows, worrying some that the Fed will want to see the job market cool further before deciding to ease its restrictive policy.
+    
+            Still, recent data has suggested that inflation is cooling again. Consumer prices rose 3.4% for the 12 months ended in April, easing from 3.5% the month before, according to data from the Bureau of Labor Statistics. Investors will get more inflation data next week from the Personal Consumption Expenditures index for April.
+    
+            The economy is also showing signs of cooling. Americans are falling behind on their payments, running down their pandemic savings and becoming more frugal. Retail sales were unchanged last month from March, when spending increased by a downwardly revised 0.6%, in another sign that consumers are dialing down their spending.
+    
+            Will Scarlett Johansson sue OpenAI for creating a voice assistant that sounds like the actor’s performance in the 2013 film “Her,” about a man who falls in love with an artificial intelligence?
+    
+            That’s how things could go after Johansson said OpenAI tried to hire her to voice an AI assistant for ChatGPT and, when she refused, forged ahead with a sound-alike voice. OpenAI’s co-founder and CEO, Sam Altman, could be directly in the crosshairs of such a lawsuit, writes my colleague Brian Fung.
+    
+            Now, legal experts say Johansson may have a powerful and credible claim in court if she does decide to sue, pointing to a long string of past cases that could lead to significant damages for one of the world’s leading AI companies and raise questions about the industry’s readiness to deal with AI’s many messy complications.
+    
+            That OpenAI was apparently unaware of that legal history, or at worst willfully ignorant of it, highlights what some critics say is a lack of industry oversight in AI and a need for greater protections for creators.
+    
+            OpenAI didn’t immediately respond to a request for comment.
+    
+            There are two types of law that could potentially be involved here, according to legal experts, but only one is likely to come into play based on the currently known facts.
+    
+            Read more here.
+    
+            UK regulators slapped a combined £62 million ($79 million) fine on Citigroup Wednesday for failures in its trading systems that almost resulted in stocks worth $189 billion being dumped onto European markets, reports my colleague Anna Cooban.
+    
+            The Financial Conduct Authority (FCA) imposed a fine of nearly £28 million ($36 million) on Citigroup (C), while the Bank of England’s Prudential Regulation Authority fined it almost £34 million ($43 million) following investigations into the US bank, according to statements from the authorities.
+    
+            The regulators reduced their fines by 30% because Citigroup agreed to settle the matter. Without that discount, the combined fine would have topped £88 million ($112 million).
+    
+            “We are pleased to resolve this matter from more than two years ago, which arose from an individual error that was identified and corrected within minutes,” a Citigroup spokesperson told CNN. “We immediately took steps to strengthen our systems and controls, and remain committed to ensuring full regulatory compliance.”
+    
+            The spokesperson declined to comment on reports that the trade was the result of a fat-finger error, where incorrect data is inputted because the wrong key is pressed.
+    
+            Read more here.",CNN,23/05/2024,"['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.', 'Americans might be noticing markdowns for some everyday essentials during their weekly grocery runs.', 'That doesn’t mean the battle against inflation is won.', 'Walmart saw first-quarter sales at stores open at least a year climb 3.8% from the prior year, in part thanks to its ability to keep prices low even as inflation remains sticky.', 'The largest retailer in the United States has been a mainstay for cash-strapped consumers shopping for deals on groceries and other merchandise.', 'Now Walmart is taking things one step further.', 'The superstore said on May 16 that it has rolled back prices on nearly 7,000 items in its stores, noting deflationary trends in general merchandise.', 'Inflation during the first quarter increased at half the rate seen last year, it added.', '“Our combination of everyday low prices plus a large number of rollbacks is resonating” with consumers, Walmart CEO Doug McMillon said on a call with analysts.', 'On Monday, Target slashed prices on more than 1,500 items, ranging from laundry detergent to cat food to sunscreen, with thousands more price cuts expected over the summer.', 'For example, the price of a pack of 16 Huggies baby wipes fell to 99 cents from $1.19 and roasted nuts from the Good & Gather brand now cost $5.29 from $6.89, according to a press release.', 'The company on Wednesday reported its fourth consecutive quarter of sales declines at stores open for at least one year as higher prices strain Target’s core middle-class customer base.', 'Other retailers including Ikea and Aldi have also reduced prices in recent months.', 'Some economists say that while price cuts from retailers are a welcome sign that inflation overall has come down, inflation in other areas also needs to ebb to reach the Federal Reserve’s 2% target.', 'Price cuts at big box retailers are “going to be helpful, but we’re still going to have to see housing inflation come down, which is an issue, and wage growth continue to normalize,” said Preston Caldwell, senior US economist at Morningstar Research Services.', 'The median price of a previously owned home in the United States grew 5.7% in April from a year earlier to $407,600, the highest April price on record.', 'Wage gains slowed last month but are still above historical averages.', 'The Fed’s progress on tamping down inflation stalled during the first quarter of this year, raising concerns that the central bank won’t cut rates until this fall or even next year.', 'Unemployment remains at historic lows, worrying some that the Fed will want to see the job market cool further before deciding to ease its restrictive policy.', 'Still, recent data has suggested that inflation is cooling again.', 'Consumer prices rose 3.4% for the 12 months ended in April, easing from 3.5% the month before, according to data from the Bureau of Labor Statistics.', 'Investors will get more inflation data next week from the Personal Consumption Expenditures index for April.', 'The economy is also showing signs of cooling.', 'Americans are falling behind on their payments, running down their pandemic savings and becoming more frugal.', 'Retail sales were unchanged last month from March, when spending increased by a downwardly revised 0.6%, in another sign that consumers are dialing down their spending.', 'Will Scarlett Johansson sue OpenAI for creating a voice assistant that sounds like the actor’s performance in the 2013 film “Her,” about a man who falls in love with an artificial intelligence?', 'That’s how things could go after Johansson said OpenAI tried to hire her to voice an AI assistant for ChatGPT and, when she refused, forged ahead with a sound-alike voice.', 'OpenAI’s co-founder and CEO, Sam Altman, could be directly in the crosshairs of such a lawsuit, writes my colleague Brian Fung.', 'Now, legal experts say Johansson may have a powerful and credible claim in court if she does decide to sue, pointing to a long string of past cases that could lead to significant damages for one of the world’s leading AI companies and raise questions about the industry’s readiness to deal with AI’s many messy complications.', 'That OpenAI was apparently unaware of that legal history, or at worst willfully ignorant of it, highlights what some critics say is a lack of industry oversight in AI and a need for greater protections for creators.', 'OpenAI didn’t immediately respond to a request for comment.', 'There are two types of law that could potentially be involved here, according to legal experts, but only one is likely to come into play based on the currently known facts.', 'Read more here.', 'UK regulators slapped a combined £62 million ($79 million) fine on Citigroup Wednesday for failures in its trading systems that almost resulted in stocks worth $189 billion being dumped onto European markets, reports my colleague Anna Cooban.', 'The Financial Conduct Authority (FCA) imposed a fine of nearly £28 million ($36 million) on Citigroup (C), while the Bank of England’s Prudential Regulation Authority fined it almost £34 million ($43 million) following investigations into the US bank, according to statements from the authorities.', 'The regulators reduced their fines by 30% because Citigroup agreed to settle the matter.', 'Without that discount, the combined fine would have topped £88 million ($112 million).', '“We are pleased to resolve this matter from more than two years ago, which arose from an individual error that was identified and corrected within minutes,” a Citigroup spokesperson told CNN. “', 'We immediately took steps to strengthen our systems and controls, and remain committed to ensuring full regulatory compliance.”', 'The spokesperson declined to comment on reports that the trade was the result of a fat-finger error, where incorrect data is inputted because the wrong key is pressed.', 'Read more here.']",0.0765646596432277,"Will Scarlett Johansson sue OpenAI for creating a voice assistant that sounds like the actor’s performance in the 2013 film “Her,” about a man who falls in love with an artificial intelligence?","That OpenAI was apparently unaware of that legal history, or at worst willfully ignorant of it, highlights what some critics say is a lack of industry oversight in AI and a need for greater protections for creators.",0.1230229161403797,"The median price of a previously owned home in the United States grew 5.7% in April from a year earlier to $407,600, the highest April price on record.",The company on Wednesday reported its fourth consecutive quarter of sales declines at stores open for at least one year as higher prices strain Target’s core middle-class customer base.,2024-05-23
+"Bilt’s May Rent Day promotion: Redeem points toward rent, get free home decor",https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion,"
+  Updated
+        4:22 PM EDT, Thu April 25, 2024
+    ","The Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception in 2021. With a top-notch travel rewards program and the opportunity to earn points on rent with 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.
+    
+            In addition, Bilt Rewards — the loyalty program behind the Bilt Mastercard — offers lucrative 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 — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month. Bilt typically announces these promotions just a few days before Rent Day.
+    
+            Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.
+    
+            Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.
+    
+            Additionally, Bilt recently announced a new partnership with Blade, a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.
+    
+            Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.
+    
+            Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection. You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.
+    
+            However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment. For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.
+    
+            Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison. However, it might be worth considering this month if you’re looking for new home decor anyway.
+    
+            The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.
+    
+            This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country. This includes unique tasting menus, wine pairings and omakase experiences.
+    
+            These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest. Availability will be limited, but you can try to grab a seat on April 26.
+    
+            Those with Bilt elite status will receive priority access to reservations. Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST. All other Bilt Rewards members can book at 12:30 p.m. EST.
+    
+            Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.
+    
+            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 May 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 with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).
+    
+            Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking. Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.
+    
+            Again, you’ll get more Blade benefits if you have Bilt elite status.
+    
+            These are nice benefits to have if you live in New York. Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.
+    
+            If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home. If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.
+    
+            Learn more and apply now for the Bilt Mastercard.
+    
+            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,25/04/2024,"['The Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception in 2021.', 'With a top-notch travel rewards program and the opportunity to earn points on rent with 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.', 'In addition, Bilt Rewards —the loyalty program behind the Bilt Mastercard — offers lucrative 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 — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month.', 'Bilt typically announces these promotions just a few days before Rent Day.', 'Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.', 'Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.', 'Additionally, Bilt recently announced a new partnership with Blade,a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.', 'Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.', 'Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection.', 'You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.', 'However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment.', 'For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.', 'Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.', 'However, it might be worth considering this month if you’re looking for new home decor anyway.', 'The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.', 'This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country.', 'This includes unique tasting menus, wine pairings and omakase experiences.', 'These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest.', 'Availability will be limited, but you can try to grab a seat on April 26.', 'Those with Bilt elite status will receive priority access to reservations.', 'Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST.', 'All other Bilt Rewards members can book at 12:30 p.m. EST.', 'Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.  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 May 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 with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).', 'Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking.', 'Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.', 'Again, you’ll get more Blade benefits if you have Bilt elite status.', 'These are nice benefits to have if you live in New York.', 'Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.', 'If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home.', 'If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.', 'Learn more and apply now for the Bilt Mastercard.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.3487739443917381,"Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.",,0.978265517950058,"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.",,2024-05-23
+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.",2024-05-23
+What the major Ticketmaster lawsuit means for you,https://edition.cnn.com/2024/05/23/tech/what-the-ticketmaster-lawsuit-means-for-you/index.html,"
+  Published
+        2:23 PM EDT, Thu May 23, 2024
+    ","The Justice Department’s massive antitrust suit against Live Nation on Thursday reflects widespread frustration among fans and concertgoers everywhere who are fed up with confusing fees, ticket restrictions and poor customer service at its Ticketmaster business, the country’s biggest live event ticketing company.
+    
+            But the Department of Justice says those complaints are just the symptom of a more fundamental problem with Live Nation.
+    
+            “We’re here not because Ticketmaster’s conduct is inconvenient or frustrating,” said Attorney General Merrick Garland at a press conference. “We’re here because it’s illegal.”
+    
+            Here are four major takeaways for concertgoers from Thursday’s groundbreaking suit.
+    
+            According to the lawsuit filed in New York by the US government and 30 attorneys general from both political parties, Live Nation has monopolized the live events market by owning key chunks of every industry needed to put on a successful tour.
+    
+            That stack includes not just Ticketmaster, which sells tickets to fans, but also other parts of the value chain, including the concert promoters who work with artists to put on shows and even many of the venues where they play.
+    
+            Antitrust officials say Live Nation has weaponized that integration, resorting to exclusive contracts, threats and retaliation to keep competition at bay and to make sure venues and rivals stay in line. Those tactics are what allow Live Nation to charge exorbitant fees that ultimately harm the consumer and to punish artists who boycott the company, the governments say.
+    
+            The Justice Department seems to think so. Antitrust officials are pushing for a breakup of Live Nation on the theory that splitting it apart will disrupt the “flywheel” that allegedly lets it hold users, artists and venues hostage.
+    
+            Live Nation, for its part, says even if the lawsuit succeeds, it won’t lead to cheaper ticket prices.
+    
+            “Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term,” the company said in a statement, “but it will lose in court because it ignores the basic economics of live entertainment.”
+    
+            Consumer groups that have advocated for a breakup are applauding the antitrust suit.
+    
+            “The only way to ensure fair competition, more access, and better service for fans and artists is for the DOJ to see this lawsuit through to the end of Live Nation-Ticketmaster,” said the Fan Fairness Coalition in a statement.
+    
+            To fix the issue, regulators say Live Nation must be broken up.
+    
+            Officials won’t say exactly how they think a breakup should work; on a call with reporters Thursday, senior DOJ officials said they are keeping their options open while the case moves forward. If they win the lawsuit and persuade a court that Live Nation broke the law, there could likely be a separate court proceeding to determine what remedies would be appropriate.
+    
+            But based on past criticism of Live Nation, one possible outcome at a minimum could be a spinoff of Ticketmaster. The two companies famously merged in 2010, creating a vertically integrated behemoth. The DOJ didn’t oppose the deal at the time, instead reaching an agreement with Live Nation that imposed some commitments on the combined company.
+    
+            Thursday’s lawsuit, in a way, reflects an admission by DOJ that the deal was bad from the start and that the conditions it imposed on Live Nation haven’t worked.
+    
+            Complaints about Ticketmaster and Live Nation are nothing new. But Taylor Swift may have brought them to the forefront of the public’s attention.
+    
+            Spurred on by debacles such as the 2022 Taylor Swift fiasco, in which technical glitches at Ticketmaster prevented millions of fans from buying tickets for Swift’s “Eras” tour, criticism of Live Nation and Ticketmaster have reached a fever pitch.
+    
+            Reacting in 2022 to the Ticketmaster fiasco that enraged her fans, Swift wrote on Instagram that the situation was “excruciating for me” and “pisses me off.”
+    
+            For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensive ticketing fees to restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.",CNN,23/05/2024,"['The Justice Department’s massive antitrust suit against Live Nation on Thursday reflects widespread frustration among fans and concertgoers everywhere who are fed up with confusing fees, ticket restrictions and poor customer service at its Ticketmaster business, the country’s biggest live event ticketing company.', 'But the Department of Justice says those complaints are just the symptom of a more fundamental problem with Live Nation.', '“We’re here not because Ticketmaster’s conduct is inconvenient or frustrating,” said Attorney General Merrick Garland at a press conference. “', 'We’re here because it’s illegal.”', 'Here are four major takeaways for concertgoers from Thursday’s groundbreaking suit.', 'According to the lawsuit filed in New York by the US government and 30 attorneys general from both political parties, Live Nation has monopolized the live events market by owning key chunks of every industry needed to put on a successful tour.', 'That stack includes not just Ticketmaster, which sells tickets to fans, but also other parts of the value chain, including the concert promoters who work with artists to put on shows and even many of the venues where they play.', 'Antitrust officials say Live Nation has weaponized that integration, resorting to exclusive contracts, threats and retaliation to keep competition at bay and to make sure venues and rivals stay in line.', 'Those tactics are what allow Live Nation to charge exorbitant fees that ultimately harm the consumer and to punish artists who boycott the company, the governments say.', 'The Justice Department seems to think so.', 'Antitrust officials are pushing for a breakup of Live Nation on the theory that splitting it apart will disrupt the “flywheel” that allegedly lets it hold users, artists and venues hostage.', 'Live Nation, for its part, says even if the lawsuit succeeds, it won’t lead to cheaper ticket prices.', '“Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term,” the company said in a statement, “but it will lose in court because it ignores the basic economics of live entertainment.”', 'Consumer groups that have advocated for a breakup are applauding the antitrust suit.', '“The only way to ensure fair competition, more access, and better service for fans and artists is for the DOJ to see this lawsuit through to the end of Live Nation-Ticketmaster,” said the Fan Fairness Coalition in a statement.', 'To fix the issue, regulators say Live Nation must be broken up.', 'Officials won’t say exactly how they think a breakup should work; on a call with reporters Thursday, senior DOJ officials said they are keeping their options open while the case moves forward.', 'If they win the lawsuit and persuade a court that Live Nation broke the law, there could likely be a separate court proceeding to determine what remedies would be appropriate.', 'But based on past criticism of Live Nation, one possible outcome at a minimum could be a spinoff of Ticketmaster.', 'The two companies famously merged in 2010, creating a vertically integrated behemoth.', 'The DOJ didn’t oppose the deal at the time, instead reaching an agreement with Live Nation that imposed some commitments on the combined company.', 'Thursday’s lawsuit, in a way, reflects an admission by DOJ that the deal was bad from the start and that the conditions it imposed on Live Nation haven’t worked.', 'Complaints about Ticketmaster and Live Nation are nothing new.', 'But Taylor Swift may have brought them to the forefront of the public’s attention.', 'Spurred on by debacles such as the 2022 Taylor Swift fiasco, in which technical glitches at Ticketmaster prevented millions of fans from buying tickets for Swift’s “Eras” tour, criticism of Live Nation and Ticketmaster have reached a fever pitch.', 'Reacting in 2022 to the Ticketmaster fiasco that enraged her fans, Swiftwrote on Instagramthat the situation was “excruciating for me” and “pisses me off.”', 'For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensiveticketing feesto restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.']",-0.106550916667756,"“The only way to ensure fair competition, more access, and better service for fans and artists is for the DOJ to see this lawsuit through to the end of Live Nation-Ticketmaster,” said the Fan Fairness Coalition in a statement.","For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensiveticketing feesto restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.",-0.2710392583500255,"“Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term,” the company said in a statement, “but it will lose in court because it ignores the basic economics of live entertainment.”","For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensiveticketing feesto restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.",2024-05-23
+FCC is considering AI rules for political ads,https://edition.cnn.com/2024/05/22/tech/fcc-weighs-ai-rules-political-ads/index.html,"
+  Updated
+        3:38 PM EDT, Wed May 22, 2024
+    ","The Federal Communications Commission is taking initial steps toward new rules that could require political ads on TV and radio to include disclaimers about the use of artificial intelligence.
+    
+            On Wednesday, FCC Chairwoman Jessica Rosenworcel called on other agency commissioners to support such regulations amid growing fears that AI-generated deepfakes could disrupt elections.
+    
+            “As artificial intelligence tools become more accessible, the Commission wants to make sure consumers are fully informed when the technology is used,” Rosenworcel said in a news release. “Today, I’ve shared with my colleagues a proposal that makes clear consumers have a right to know when AI tools are being used in the political ads they see, and I hope they swiftly act on this issue.”
+    
+            Wednesday’s proposal aims to open a rulemaking process at the FCC that would likely take months to play out.
+    
+            The proposal calls for new rules governing broadcast TV and radio, as well as cable and satellite providers. Under the proposed rules, political advertisers on those mediums would have to make on-air disclosures if their ads contain AI-generated content. The FCC does not regulate internet-based media such as streaming video services or social media.
+    
+            As part of the proposed rule, political advertisers would also have to provide written disclosures in the files that broadcasters are required to make available to the public.
+    
+            The FCC move seeks to fill a yawning gap in the regulation of artificial intelligence in political advertising.
+    
+            Existing US election law prohibits campaigns from “fraudulently misrepresenting other candidates or political parties,” but whether this prohibition extends to AI-generated content is an open question.
+    
+            Last summer, Republicans on the Federal Election Commission blocked a move that could have made clear the law extended to AI-created depictions; the FEC has since agreed to revive the discussion, but it has not reached a decision on the matter.
+    
+            In the meantime, some US lawmakers have proposed legislation that could clamp down on AI in elections. In March, a bipartisan proposal by Minnesota Democratic Sen. Amy Klobuchar and Alaska Republican Sen. Lisa Murkowski unveiled the AI Transparency in Elections Act, which could require AI disclaimers on political ads.
+    
+            Senate Majority Leader Chuck Schumer, a Democrat from New York, has stressed the urgent need for Congress to create guardrails for artificial intelligence, particularly for elections. Last week, he and a bipartisan group of senators released a blueprint for legislative action. But many policy analysts doubt that Congress can pass meaningful AI legislation during an election year.
+    
+            Online platforms such as Meta have taken their own steps to address AI in political ads, requiring campaigns to disclose the use of deepfakes and banning the use of its in-house generative AI tools for political advertising.",CNN,22/05/2024,"['The Federal Communications Commission is taking initial steps toward new rules that could require political ads on TV and radio to include disclaimers about the use of artificial intelligence.', 'On Wednesday, FCC Chairwoman Jessica Rosenworcel called on other agency commissioners to support such regulations amid growing fears that AI-generated deepfakes could disrupt elections.', '“As artificial intelligence tools become more accessible, the Commission wants to make sure consumers are fully informed when the technology is used,” Rosenworcel said in a news release.', '“Today, I’ve shared with my colleagues a proposal that makes clear consumers have a right to know when AI tools are being used in the political ads they see, and I hope they swiftly act on this issue.”', 'Wednesday’s proposal aims to open a rulemaking process at the FCC that would likely take months to play out.', 'The proposal calls for new rules governing broadcast TV and radio, as well as cable and satellite providers.', 'Under the proposed rules, political advertisers on those mediums would have to make on-air disclosures if their ads contain AI-generated content.', 'The FCC does not regulate internet-based media such as streaming video services or social media.', 'As part of the proposed rule, political advertisers would also have to provide written disclosures in the files that broadcasters arerequired to make availableto the public.', 'The FCC move seeks to filla yawning gapin the regulation of artificial intelligence in political advertising.', 'Existing US election law prohibits campaigns from “fraudulently misrepresenting other candidates or political parties,” but whether this prohibition extends to AI-generated content is an open question.', 'Last summer,Republicans on the Federal Election Commission blockeda move that could have made clear the law extended to AI-created depictions; the FEC has since agreed to revive the discussion, but it has not reached a decision on the matter.', 'In the meantime, some US lawmakers have proposed legislation that could clamp down on AI in elections.', 'In March, a bipartisan proposal by Minnesota Democratic Sen. Amy Klobuchar and Alaska Republican Sen. Lisa Murkowski unveiled theAI Transparency in Elections Act, which could require AI disclaimers on political ads.', 'Senate Majority Leader Chuck Schumer, a Democrat from New York, has stressed the urgent need for Congress to create guardrails for artificial intelligence, particularly for elections.', 'Last week, he and a bipartisan group of senatorsreleased a blueprintfor legislative action.', 'But manypolicy analysts doubtthat Congress can pass meaningful AI legislation during an election year.', 'Online platforms such as Meta have taken their own steps to address AI in political ads,requiring campaignsto disclose the use of deepfakes and banning the use of itsin-house generative AI toolsfor political advertising.']",0.284207734823922,"“Today, I’ve shared with my colleagues a proposal that makes clear consumers have a right to know when AI tools are being used in the political ads they see, and I hope they swiftly act on this issue.”",,-0.9524238705635072,,But manypolicy analysts doubtthat Congress can pass meaningful AI legislation during an election year.,2024-05-23
+"Target is cutting prices on up to 5,000 items to lure back inflation-weary shoppers",https://edition.cnn.com/2024/05/20/business/target-price-cuts/index.html,"
+  Updated
+        1:53 PM EDT, Mon May 20, 2024
+    ","Target has slashed prices on more than 1,500 popular items beginning immediately, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices.
+    
+            Prices have dropped effective Monday, with “thousands more price cuts” — amounting to 5,000 items — being reduced over the summer, the retailer announced. The lower prices will aim to “collectively save consumers millions of dollars” on household staples and everyday items such as milk, fresh fruit, diapers and even pet food.
+    
+            The changes affect name brands, like Clorox and Prime energy drink, as well as its house brands. Although prices vary depending on city, Target highlighted some examples with a 75-count canister of Clorox wipes being reduced to $4.99 from $5.79 and one pound of unsalted butter from its Good & Gather brand dropping to $3.79 from $3.99.
+    
+            Other major retailers, like Ikea and Aldi, have been reducing prices in recent months in an attempt to re-attract consumers into stores and entice them to spend money, since many have slashed their spending because of inflation.
+    
+            Shoppers have pulled back for a year now as costs have risen 20% to 30% higher than they were three years ago and as incomes failed to keep up, Sarah Wyeth, managing director, retail and consumer with S&P Global Ratings, recently told CNN.
+    
+            Retail sales growth has taken a hit because of high prices: Last month, retail sales were unchanged from March, when spending increased by a downwardly revised 0.6%, the Commerce Department recently reported.
+    
+            In April, spending missed the 0.4% increase that economists had projected, according to FactSet. The figures are adjusted for seasonal swings but not inflation. By comparison, a year ago, retail sales surged by 3%.
+    
+            For Target, the price cuts are also an attempt to turn around sales, which fell last year for the first time since 2016, amid a predicted sluggish 2024. The retailer will give an update on this year’s sales when it reports earnings Wednesday.
+    
+            Like other big box stores, business has slowed for Target since shoppers stocked up at its locations and online during the height of the pandemic in 2020 and 2021.
+    
+            Since its surge, Target’s core middle-class customer base has been strained by higher prices and pulled back on discretionary goods such as home decor, electronics and nonessential clothing.
+    
+            In response, Target recently created a new house brand called Dealworthy to take on dollar stores and Walmart. The budget-friendly lineup consists of 400 items, from phone chargers to disposable plates and even underwear.",CNN,20/05/2024,"['Target has slashed prices on more than 1,500 popular items beginning immediately, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices.', 'Prices have dropped effective Monday, with “thousands more price cuts” — amounting to 5,000 items — being reduced over the summer, the retailer announced.', 'The lower prices will aim to “collectively save consumers millions of dollars” on household staples and everyday items such as milk, fresh fruit, diapers and even pet food.', 'The changes affect name brands, like Clorox and Prime energy drink, as well as its house brands.', 'Although prices vary depending on city, Target highlighted some examples with a 75-count canister of Clorox wipes being reduced to$4.99from$5.79 and one pound of unsalted butter from its Good & Gather brand dropping to $3.79 from $3.99.', 'Other major retailers, like Ikea and Aldi, have been reducing prices in recent months in an attempt to re-attract consumers into stores and entice them to spend money, since many have slashed their spending because of inflation.', 'Shoppers have pulled back for a year now as costs have risen 20% to 30% higher than they were three years ago and as incomes failed to keep up, Sarah Wyeth, managing director, retail and consumer with S&P Global Ratings, recently told CNN.', 'Retail sales growth has taken a hit because of high prices: Last month, retail sales were unchanged from March, when spending increased by a downwardly revised 0.6%, the Commerce Department recently reported.', 'In April, spending missed the 0.4% increase that economists had projected, according to FactSet.', 'The figures are adjusted for seasonal swings but not inflation.', 'By comparison, a year ago, retail sales surged by 3%.', 'For Target, the price cuts are also an attempt to turn around sales, which fell last year for the first time since 2016, amid a predicted sluggish 2024.', 'The retailer will give an update on this year’s sales when it reports earnings Wednesday.', 'Like other big box stores, business has slowed for Target since shoppers stocked up at its locations and online during the height of the pandemic in 2020 and 2021.', 'Since its surge, Target’s core middle-class customer base has been strained by higher prices and pulled back on discretionary goods such as home decor, electronics and nonessential clothing.', 'In response, Target recently created a new house brand called Dealworthy to take on dollar stores and Walmart.', 'The budget-friendly lineup consists of 400 items, from phone chargers to disposable plates and even underwear.']",0.1811050650897248,"The changes affect name brands, like Clorox and Prime energy drink, as well as its house brands.","For Target, the price cuts are also an attempt to turn around sales, which fell last year for the first time since 2016, amid a predicted sluggish 2024.",-0.3286035706599553,"By comparison, a year ago, retail sales surged by 3%.","For Target, the price cuts are also an attempt to turn around sales, which fell last year for the first time since 2016, amid a predicted sluggish 2024.",2024-05-23
+Scarlett Johansson's AI row has echoes of Silicon Valley's bad old days,https://www.bbc.co.uk/news/articles/cgrr70zm41mo,2024-05-22T23:04:48.792Z,"“Move fast and break things” is a motto that continues to haunt the tech sector, some 20 years after it was coined by a young Mark Zuckerberg. Those five words came to symbolise Silicon Valley at its worst - a combination of ruthless ambition and a rather breathtaking arrogance - profit-driven innovation without fear of consequence. I was reminded of that phrase this week when the actor Scarlett Johansson clashed with OpenAI. Ms Johansson claimed both she and her agent had declined for her to be the voice of its new product for ChatGPT - and then when it was unveiled it sounded just like her anyway. OpenAI denies that it was an intentional imitation. It’s a classic illustration of exactly what the creative industries are so worried about - being mimicked and eventually replaced by artificial intelligence. Listen to Zoe read this article There are echoes in all this of the macho Silicon Valley giants of old. Seeking forgiveness rather than permission as an unofficial business plan. The tech firms of 2024 are extremely keen to distance themselves from that reputation. And OpenAI wasn’t shaped from that mould. It was originally a non-profit organisation committed to investing any extra profits back into the business. In 2019, when it formed a profit-making arm, the company said it would be led by the non-profit side, and there would be a cap on the returns for investors. Not everybody was happy about the shift - it was said to have been a key reason behind co-founder Elon Musk's decision to walk away. And when OpenAI CEO Sam Altman was suddenly fired by the board late last year, one of the theories was that he wanted to move further away from the original mission. We never found out for sure. But even if OpenAI has become more profit-driven, it still has to face up to its responsibilities. In the world of policy-making, almost everyone is agreed on the need for clear boundaries to keep companies like OpenAI in line before disaster strikes. So far, the AI giants have largely played ball on paper. At the world’s first AI Safety Summit six months ago, a group of tech bosses signed a voluntary pledge to create responsible, safe products that would maximise the benefits of AI technology and minimise its risks. Those risks they spoke of were the stuff of nightmares - this was Terminator, Doomsday, AI-goes-rogue-and-destroys-humanity territory. Last week, a draft UK government report from a group of 30 independent experts concluded that there was “no evidence yet”  that AI could generate a biological weapon or carry out a sophisticated cyber attack. The plausibility of humans losing control of AI was “highly contentious”, it said. And when the summit reconvened earlier this week, the word “safety” had been removed entirely from the conference title. Some people in the field have been saying for quite a while that the more immediate threat from AI tools was that they will replace jobs or cannot recognise skin colours. These are the real problems, says AI ethics expert Dr Rumman Chowdhury. And there are further complications. That report claimed there was currently no reliable way of understanding exactly why AI tools generate the output that they do - even their developers aren’t sure. And the established safety testing practice known as red teaming, in which evaluators  deliberately try to get an AI tool to misbehave, has no best-practice guidelines. And at that follow-up summit this week, hosted jointly by the UK and South Korea in Seoul, tech firms committed to shelving a product if it didn’t meet certain safety thresholds - but these will not be set until the next gathering in 2025. While the experts debate the nature of the threats posed by AI, the tech companies keep shipping products. The past few days alone have seen the launch of ChatGPT-4O from OpenAI, Project Astra from Google, and CoPilot+ from Microsoft. The AI Safety Institute declined to say whether it had the opportunity to test these tools before their release. OpenAI says it has a 10-point safety process, but one of its senior safety-focused engineers resigned earlier this week, saying his department had been “sailing against the wind” internally. “Over the past years, safety culture and processes have taken a backseat to shiny products,” Jan Leike posted on X. There are, of course, other teams at OpenAI who continue to focus on safety and security. But there’s no official, independent oversight of what any of these companies are actually doing. “Volunteer agreements essentially are just a means of firms marking their own homework,” says Andrew Strait, associate director of the Ada Lovelace Institute, an independent research organisation. “It's essentially no replacement for legally binding and enforceable rules which are required to incentivise responsible development of these technologies."" “We have no guarantee that these companies are sticking to their pledges,” says Professor Dame Wendy Hall, one of the UK’s leading computer scientists. “How do we hold them to account on what they’re saying, like we do with drugs companies or in other sectors where there is high risk?” Tougher rules are coming. The EU passed its AI Act, the first law of its kind, and has tough penalties for non-compliance, but some argue it will impact users - who will have to risk-assess AI tools themselves - rather than those that develop the AI . But this doesn’t necessarily mean that AI companies are off the hook. “We need to move towards legal regulation over time but we can’t rush it,” says Prof Hall. “Setting up global governance principles that everyone signs up to is really hard.” “We also need to make sure it’s genuinely worldwide and not just the Western world and China that we are protecting.” The overriding issue, as ever, is that regulation and policy move a lot more slowly than innovation. Prof Hall believes the “stars are aligning” at government levels. The question is whether the tech giants can be persuaded to wait for them. BBC InDepth is the new home on the website and app for the best analysis and expertise from our top journalists. Under a distinctive new brand, we’ll bring you fresh perspectives that challenge assumptions, and deep reporting on the biggest issues to help you make sense of a complex world. And we’ll be showcasing thought-provoking content from across BBC Sounds and iPlayer too. We’re starting small but thinking big, and we want to know what you think - you can send us your feedback by clicking on the button below. ",BBC,22/05/2024,"['“Move fast and break things” is a motto that continues to haunt the tech sector, some 20 years after it was coined by a young Mark Zuckerberg.', 'Those five words came to symbolise Silicon Valley at its worst - a combination of ruthless ambition and a rather breathtaking arrogance - profit-driven innovation without fear of consequence.', 'I was reminded of that phrase this week when the actor Scarlett Johansson clashed with OpenAI.', 'Ms Johansson claimed both she and her agent had declined for her to be the voice of its new product for ChatGPT - and then when it was unveiled it sounded just like her anyway.', 'OpenAI denies that it was an intentional imitation.', 'It’s a classic illustration of exactly what the creative industries are so worried about - being mimicked and eventually replaced by artificial intelligence.', 'Listen to Zoe read this article There are echoes in all this of the macho Silicon Valley giants of old.', 'Seeking forgiveness rather than permission as an unofficial business plan.', 'The tech firms of 2024 are extremely keen to distance themselves from that reputation.', 'And OpenAI wasn’t shaped from that mould.', 'It was originally a non-profit organisation committed to investing any extra profits back into the business.', 'In 2019, when it formed a profit-making arm, the company said it would be led by the non-profit side, and there would be a cap on the returns for investors.', ""Not everybody was happy about the shift - it was said to have been a key reason behind co-founder Elon Musk's decision to walk away."", 'And when OpenAI CEO Sam Altman was suddenly fired by the board late last year, one of the theories was that he wanted to move further away from the original mission.', 'We never found out for sure.', 'But even if OpenAI has become more profit-driven, it still has to face up to its responsibilities.', 'In the world of policy-making, almost everyone is agreed on the need for clear boundaries to keep companies like OpenAI in line before disaster strikes.', 'So far, the AI giants have largely played ball on paper.', 'At the world’s first AI Safety Summit six months ago, a group of tech bosses signed a voluntary pledge to create responsible, safe products that would maximise the benefits of AI technology and minimise its risks.', 'Those risks they spoke of were the stuff of nightmares - this was Terminator, Doomsday, AI-goes-rogue-and-destroys-humanity territory.', 'Last week, a draft UK government report from a group of 30 independent experts concluded that there was “no evidence yet” that AI could generate a biological weapon or carry out a sophisticated cyber attack.', 'The plausibility of humans losing control of AI was “highly contentious”, it said.', 'And when the summit reconvened earlier this week, the word “safety” had been removed entirely from the conference title.', 'Some people in the field have been saying for quite a while that the more immediate threat from AI tools was that they will replace jobs or cannot recognise skin colours.', 'These are the real problems, says AI ethics expert Dr Rumman Chowdhury.', 'And there are further complications.', 'That report claimed there was currently no reliable way of understanding exactly why AI tools generate the output that they do - even their developers aren’t sure.', 'And the established safety testing practice known as red teaming, in which evaluators deliberately try to get an AI tool to misbehave, has no best-practice guidelines.', 'And at that follow-up summit this week, hosted jointly by the UK and South Korea in Seoul, tech firms committed to shelving a product if it didn’t meet certain safety thresholds - but these will not be set until the next gathering in 2025.', 'While the experts debate the nature of the threats posed by AI, the tech companies keep shipping products.', 'The past few days alone have seen the launch of ChatGPT-4O from OpenAI, Project Astra from Google, and CoPilot+ from Microsoft.', 'The AI Safety Institute declined to say whether it had the opportunity to test these tools before their release.', 'OpenAI says it has a 10-point safety process, but one of its senior safety-focused engineers resigned earlier this week, saying his department had been “sailing against the wind” internally. “', 'Over the past years, safety culture and processes have taken a backseat to shiny products,” Jan Leike posted on X. There are, of course, other teams at OpenAI who continue to focus on safety and security.', 'But there’s no official, independent oversight of what any of these companies are actually doing. “', 'Volunteer agreements essentially are just a means of firms marking their own homework,” says Andrew Strait, associate director of the Ada Lovelace Institute, an independent research organisation. “', 'It\'s essentially no replacement for legally binding and enforceable rules which are required to incentivise responsible development of these technologies."" “', 'We have no guarantee that these companies are sticking to their pledges,” says Professor Dame Wendy Hall, one of the UK’s leading computer scientists. “', 'How do we hold them to account on what they’re saying, like we do with drugs companies or in other sectors where there is high risk?”', 'Tougher rules are coming.', 'The EU passed its AI Act, the first law of its kind, and has tough penalties for non-compliance, but some argue it will impact users - who will have to risk-assess AI tools themselves - rather than those that develop the AI .', 'But this doesn’t necessarily mean that AI companies are off the hook. “', 'We need to move towards legal regulation over time but we can’t rush it,” says Prof Hall. “', 'Setting up global governance principles that everyone signs up to is really hard.” “', 'We also need to make sure it’s genuinely worldwide and not just the Western world and China that we are protecting.”', 'The overriding issue, as ever, is that regulation and policy move a lot more slowly than innovation.', 'Prof Hall believes the “stars are aligning” at government levels.', 'The question is whether the tech giants can be persuaded to wait for them.', 'BBC InDepth is the new home on the website and app for the best analysis and expertise from our top journalists.', 'Under a distinctive new brand, we’ll bring you fresh perspectives that challenge assumptions, and deep reporting on the biggest issues to help you make sense of a complex world.', 'And we’ll be showcasing thought-provoking content from across BBC Sounds and iPlayer too.', 'We’re starting small but thinking big, and we want to know what you think - you can send us your feedback by clicking on the button below.']",0.1042803072332138,"At the world’s first AI Safety Summit six months ago, a group of tech bosses signed a voluntary pledge to create responsible, safe products that would maximise the benefits of AI technology and minimise its risks.","Those risks they spoke of were the stuff of nightmares - this was Terminator, Doomsday, AI-goes-rogue-and-destroys-humanity territory.",0.1927609801292419,"At the world’s first AI Safety Summit six months ago, a group of tech bosses signed a voluntary pledge to create responsible, safe products that would maximise the benefits of AI technology and minimise its risks.","OpenAI says it has a 10-point safety process, but one of its senior safety-focused engineers resigned earlier this week, saying his department had been “sailing against the wind” internally. “",2024-05-23
+Electricity grids creak as AI demands soar,https://www.bbc.co.uk/news/articles/cj5ll89dy2mo,2024-05-21T01:03:48.722Z,"There’s a big problem with generative AI, says Sasha Luccioni at Hugging Face, a machine-learning company. Generative AI is an energy hog. “Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says. Take the Large Language Models (LLMs) at the heart of many Generative AI systems. They have been trained on vast stores of written information, which helps them to churn out text in response to practically any query. “When you use Generative AI… it’s generating content from scratch, it’s essentially making up answers,” Dr Luccioni explains. That means the computer has to work pretty hard. A Generative AI system might use around 33 times more energy than machines running task-specific software, according to a recent study by Dr Luccioni and colleagues. The work has been peer-reviewed but is yet to be published in a journal. It’s not your personal computer that uses all this energy, though. Or your smartphone. The computations we increasingly rely on happen in giant data centres that are, for most people, out of sight and out of mind. “The cloud,” says Dr Luccioni. “You don’t think about these huge boxes of metal that heat up and use so much energy.” The world’s data centres are using ever more electricity. In 2022, they gobbled up 460 terawatt hours of electricity, and the International Energy Agency (IEA) expects this to double in just four years. Data centres could be using a total of 1,000 terawatts hours annually by 2026. “This demand is roughly equivalent to the electricity consumption of Japan,” says the IEA. Japan has a population of 125 million people. At data centres, huge volumes of information are stored for retrieval anywhere in the world – everything from your emails to Hollywood movies. The computers in those faceless buildings also power AI and cryptocurrency. They underpin life as we know it. But some countries know all too well how energy hungry these facilities are. There is currently a moratorium preventing the construction of new data centres in Dublin. Nearly a fifth of Ireland’s electricity is used up by data centres, and this figure is expected to grow significantly in the next few years – meanwhile Irish households are reducing their consumption. The boss of National Grid said in a speech in March that data centre electricity demand in the UK will rise six-fold in just 10 years, fuelled largely by the rise of AI. National Grid expects that the energy required for electrifying transport and heat will be much larger in total, however. Utilities firms in the US are beginning to feel the pressure, says Chris Seiple at Wood Mackenzie, a consultancy. “They’re getting hit with data centre demands at the exact same time as we have a renaissance taking place – thanks to government policy – in domestic manufacturing,” he explains. Lawmakers in some states are now rethinking tax breaks offered to data centre developers because of the sheer strain these facilities are putting on local energy infrastructure, according to reports in the US. Mr Seiple says there is a “land grab” going on for data centre locations near to power stations or renewable energy hubs: “Iowa is a hotbed of data centre development, there’s a lot of wind generation there.” Some data centres can afford to go to more remote locations these days because latency – the delay, usually measured in milliseconds, between sending information out from a data centre and the user receiving it – is not a major concern for increasingly popular Generative AI systems. In the past, data centres handling emergency communications or financial trading algorithms, for example, have been sited within or very near to large population centres, for the absolute best response times. There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple. Part of that uncertainty is down to the fact that the hardware behind generative AI is evolving all the time. Tony Grayson is general manager at Compass Quantum, a data-centre business, and he points to Nvidia’s recently launched Grace Blackwell supercomputer chips (named after a computer scientist and a mathematician), which are designed specifically to power high-end processes including generative AI, quantum computing and computer-aided drug design. Nvidia says that, in the future, a company could train AIs several times larger than those currently available in 90 days. It would require 8,000 of the previous generation of Nvidia chips and need a 15 megawatt electricity supply. But the same work could be carried out in the same time by just 2,000 Grace Blackwell chips, and they would need a four megawatt supply, according to Nvidia. That still ends up as 8.6 gigawatt hours of electricity consumed – roughly the same amount that the entire city of Belfast uses in a week. “The performance is going up so much that your overall energy savings are big,” says Mr Grayson. But he agrees that power demands are shaping where data centre operators site their facilities: “People are going to where cheap power’s at.” Dr Luccioni notes that the energy and resources required to manufacture the latest computer chips are significant. Still, it is true that data centres have got more energy efficient over time, argues Dale Sartor, a consultant and affiliate of Lawrence Berkeley National Laboratory in the US. Their efficiency is often measured in terms of power usage effectiveness, or PUE. The lower the number, the better. State-of-the-art data centres have a PUE of around 1.1, he notes. These facilities do still create significant amounts of waste heat and Europe is ahead of the US in finding ways of using that waste heat – such as warming up swimming pools – says Mr Sartor. Bruce Owen, UK managing director at Equinix, a data centre firm, says, “I still think that the demand is going to grow further than that efficiency gain that we see.” He predicts that more data centres will be built with on-site power-generating facilities included. Equinix was denied planning permission for a gas-powered data centre in Dublin last year. Mr Sartor adds that costs may ultimately determine whether Generative AI is worth it for certain applications: “If the old way is cheaper and easier then there’s not going to be much of a market for the new way.” Dr Luccioni stresses, though, that people will need to clearly understand how the options in front of them differ in terms of energy efficiency. She is working on a project to develop energy ratings for AI. “Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says. ",BBC,21/05/2024,"['There’s a big problem with generative AI, says Sasha Luccioni at Hugging Face, a machine-learning company.', 'Generative AI is an energy hog. “', 'Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says.', 'Take the Large Language Models (LLMs) at the heart of many Generative AI systems.', 'They have been trained on vast stores of written information, which helps them to churn out text in response to practically any query. “', 'When you use Generative AI… it’s generating content from scratch, it’s essentially making up answers,” Dr Luccioni explains.', 'That means the computer has to work pretty hard.', 'A Generative AI system might use around 33 times more energy than machines running task-specific software, according to a recent study by Dr Luccioni and colleagues.', 'The work has been peer-reviewed but is yet to be published in a journal.', 'It’s not your personal computer that uses all this energy, though.', 'Or your smartphone.', 'The computations we increasingly rely on happen in giant data centres that are, for most people, out of sight and out of mind. “', 'The cloud,” says Dr Luccioni. “', 'You don’t think about these huge boxes of metal that heat up and use so much energy.”', 'The world’s data centres are using ever more electricity.', 'In 2022, they gobbled up 460 terawatt hours of electricity, and the International Energy Agency (IEA) expects this to double in just four years.', 'Data centres could be using a total of 1,000 terawatts hours annually by 2026. “', 'This demand is roughly equivalent to the electricity consumption of Japan,” says the IEA.', 'Japan has a population of 125 million people.', 'At data centres, huge volumes of information are stored for retrieval anywhere in the world – everything from your emails to Hollywood movies.', 'The computers in those faceless buildings also power AI and cryptocurrency.', 'They underpin life as we know it.', 'But some countries know all too well how energy hungry these facilities are.', 'There is currently a moratorium preventing the construction of new data centres in Dublin.', 'Nearly a fifth of Ireland’s electricity is used up by data centres, and this figure is expected to grow significantly in the next few years – meanwhile Irish households are reducing their consumption.', 'The boss of National Grid said in a speech in March that data centre electricity demand in the UK will rise six-fold in just 10 years, fuelled largely by the rise of AI.', 'National Grid expects that the energy required for electrifying transport and heat will be much larger in total, however.', 'Utilities firms in the US are beginning to feel the pressure, says Chris Seiple at Wood Mackenzie, a consultancy. “', 'They’re getting hit with data centre demands at the exact same time as we have a renaissance taking place – thanks to government policy – in domestic manufacturing,” he explains.', 'Lawmakers in some states are now rethinking tax breaks offered to data centre developers because of the sheer strain these facilities are putting on local energy infrastructure, according to reports in the US.', 'Mr Seiple says there is a “land grab” going on for data centre locations near to power stations or renewable energy hubs: “Iowa is a hotbed of data centre development, there’s a lot of wind generation there.”', 'Some data centres can afford to go to more remote locations these days because latency – the delay, usually measured in milliseconds, between sending information out from a data centre and the user receiving it – is not a major concern for increasingly popular Generative AI systems.', 'In the past, data centres handling emergency communications or financial trading algorithms, for example, have been sited within or very near to large population centres, for the absolute best response times.', 'There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple.', 'Part of that uncertainty is down to the fact that the hardware behind generative AI is evolving all the time.', 'Tony Grayson is general manager at Compass Quantum, a data-centre business, and he points to Nvidia’s recently launched Grace Blackwell supercomputer chips (named after a computer scientist and a mathematician), which are designed specifically to power high-end processes including generative AI, quantum computing and computer-aided drug design.', 'Nvidia says that, in the future, a company could train AIs several times larger than those currently available in 90 days.', 'It would require 8,000 of the previous generation of Nvidia chips and need a 15 megawatt electricity supply.', 'But the same work could be carried out in the same time by just 2,000 Grace Blackwell chips, and they would need a four megawatt supply, according to Nvidia.', 'That still ends up as 8.6 gigawatt hours of electricity consumed – roughly the same amount that the entire city of Belfast uses in a week. “', 'The performance is going up so much that your overall energy savings are big,” says Mr Grayson.', 'But he agrees that power demands are shaping where data centre operators site their facilities: “People are going to where cheap power’s at.”', 'Dr Luccioni notes that the energy and resources required to manufacture the latest computer chips are significant.', 'Still, it is true that data centres have got more energy efficient over time, argues Dale Sartor, a consultant and affiliate of Lawrence Berkeley National Laboratory in the US.', 'Their efficiency is often measured in terms of power usage effectiveness, or PUE.', 'The lower the number, the better.', 'State-of-the-art data centres have a PUE of around 1.1, he notes.', 'These facilities do still create significant amounts of waste heat and Europe is ahead of the US in finding ways of using that waste heat – such as warming up swimming pools – says Mr Sartor.', 'Bruce Owen, UK managing director at Equinix, a data centre firm, says, “I still think that the demand is going to grow further than that efficiency gain that we see.”', 'He predicts that more data centres will be built with on-site power-generating facilities included.', 'Equinix was denied planning permission for a gas-powered data centre in Dublin last year.', 'Mr Sartor adds that costs may ultimately determine whether Generative AI is worth it for certain applications: “If the old way is cheaper and easier then there’s not going to be much of a market for the new way.”', 'Dr Luccioni stresses, though, that people will need to clearly understand how the options in front of them differ in terms of energy efficiency.', 'She is working on a project to develop energy ratings for AI. “', 'Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says.']",0.1682239152310992,"Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says.","There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple.",0.2879800753934042,"The performance is going up so much that your overall energy savings are big,” says Mr Grayson.","Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says.",2024-05-23
+easyJet reveals AI use at new control centre in Luton,https://www.bbc.co.uk/news/articles/c977elr6veno,2024-05-22T15:25:02.440Z,"The use of artificial intelligence (AI) at easyJet's new control centre has allowed its operations teams to better manage flights, the airline said. Personnel based at the integrated control centre near Luton Airport, Bedfordshire, have access to Jetstream, a generative AI tool. It helps them solve issues for pilots and crews on the ground more quickly, easyJet said. The airline's chief executive, Johan Lundgren, said the new facilities came just in time for summer. The AI would predict standby crew requirements and recommend the best crew options for each operation, it was claimed. More than 250 staff work in the control centre, managing easyJet's daily programme of about 2,000 flights. Their responsibilities included planning routes, allocating pilots and cabin crew, arranging aircraft maintenance and passenger communications. Mr Lundgren said staff could now benefit from a ""modern and bespoke"" hub to work from. ""At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. ""And while you can't always see it, the technology is already hard at work in the air and on the ground helping us predict exactly what food and drink we need for certain routes."" He said AI helped to reduce food waste, aid predictive maintenance decisions and help choose the right aircraft to match demand. ""We continue to invest in and deepen our knowledge and use of AI,"" Mr Lundgren added. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830 ",BBC,22/05/2024,"[""The use of artificial intelligence (AI) at easyJet's new control centre has allowed its operations teams to better manage flights, the airline said."", 'Personnel based at the integrated control centre near Luton Airport, Bedfordshire, have access to Jetstream, a generative AI tool.', 'It helps them solve issues for pilots and crews on the ground more quickly, easyJet said.', ""The airline's chief executive, Johan Lundgren, said the new facilities came just in time for summer."", 'The AI would predict standby crew requirements and recommend the best crew options for each operation, it was claimed.', ""More than 250 staff work in the control centre, managing easyJet's daily programme of about 2,000 flights."", 'Their responsibilities included planning routes, allocating pilots and cabin crew, arranging aircraft maintenance and passenger communications.', 'Mr Lundgren said staff could now benefit from a ""modern and bespoke"" hub to work from. ""', 'At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. ""', 'And while you can\'t always see it, the technology is already hard at work in the air and on the ground helping us predict exactly what food and drink we need for certain routes.""', 'He said AI helped to reduce food waste, aid predictive maintenance decisions and help choose the right aircraft to match demand. ""', 'We continue to invest in and deepen our knowledge and use of AI,"" Mr Lundgren added.', 'Got a story?', 'Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830']",0.2598622775966375,"At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. ""","He said AI helped to reduce food waste, aid predictive maintenance decisions and help choose the right aircraft to match demand. """,0.9993502298990884,"At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. """,,2024-05-23
+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.",2024-05-23
+How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy,https://edition.cnn.com/2024/05/20/business/what-went-wrong-at-red-lobster/index.html,"
+  Updated
+        3:04 PM EDT, Mon May 20, 2024
+    ","Last summer, Red Lobster made $20 endless shrimp a permanent menu item.
+    
+            Endless shrimp was a successful annual limited-time offer for Red Lobster for 20 years. But Red Lobster’s latest major shareholder, Thai Union, a Bangkok-based canned seafood company, saw the promotion as a way to sell off the mountains of shrimp it was catching and turned it into an everyday item. (Thai Union became Red Lobster’s largest investor in 2020.)
+    
+            The change cost Red Lobster $11 million.
+    
+            Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed.
+    
+            Under a CEO appointed at the direction of Thai Union, Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal to provide shrimp for the chain, the filing said.
+    
+            That led to higher costs, and it did not comply with the company’s typical decision-making process for picking suppliers based on projected demand, according to the chain’s filing.
+    
+            “This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing.
+    
+            Thai Union did not immediately respond to CNN’s request for comment.
+    
+            Endless shrimp alone didn’t doom Red Lobster. The American poster child for seafood was dragged down by a range of factors, say former leaders at the chain and restaurant analysts — including handoffs between a mix of investors and corporate parents and Thai Union’s mismanagement.
+    
+            “Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing.
+    
+            The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster. And years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to add Millennials to its core Baby Boomer customer base.
+    
+            “Red Lobster was the foundation of casual dining. They had a position of power and prominence and revolutionized how American consumers eat seafood,” said Alex Susskind, a professor of food and beverage management at Cornell University, in a previous interview with CNN.
+    
+            But the company didn’t build on that foundation, Susskind said. “Red Lobster had incredible popularity among Baby Boomers. They didn’t bring in a newer generation.”
+    
+            When the first Red Lobster opened in 1968 in Lakeland, Florida, an hour south of Orlando, casual dining was in its infancy.
+    
+            The brand was started by southern restaurateurs Bill Darden and Charley Woodsby. Darden owned several Howard Johnson’s restaurants, one of the first casual dining concepts.
+    
+            “Our motto was informal and family prices,” Woodsby later said. They saw an opportunity to bring seafood to landlocked people at more affordable prices than fine-dining restaurants.
+    
+            “In most of middle America, you couldn’t get decent seafood. Red Lobster brought it to the masses,” said Jonathan Maze, the editor in chief at Restaurant Business Magazine, a trade publication. “Red Lobster was part of this casual dining revolution.”
+    
+            Just two years into Darden and Woodsby’s venture, General Mills acquired the brand. General Mills owned brands like Wheaties, Cheerios and Betty Crocker, and the company wanted to enter the restaurant industry with Red Lobster’s five no-frills restaurants.
+    
+            By the early 1970s, with General Mills’ advertising muscle behind it, Red Lobster opened restaurants across the South.
+    
+            Red Lobster rose quickly and was the first casual dining chain to advertise on network television, according to a Harvard Business School study. Red Lobster also developed the first national seafood distribution system in the 1970s.
+    
+            “Many diners preferred their seafood fried in those days, and Red Lobster’s hush puppies could be considered an early ‘signature item,’” Joe Lee, the first general manager at Red Lobster and later its president, said in a journal article. “Families were welcomed with high chairs and a 59-cent child’s plate.”
+    
+            By 1978, Red Lobster had 236 restaurants and $291 million in sales. It had 372 restaurants and $834 million in sales in 1985.
+    
+            In 1995, General Mills spun off its restaurant division into a new company, Darden Restaurants, named for Red Lobster founder Bill Darden. The company initially included the legacy Red Lobster chain and Olive Garden, an upstart chain General Mills had started in 1982.
+    
+            But Red Lobster fell behind its sister brand Olive Garden under Darden.
+    
+            By 2008, Olive Garden’s sales had eclipsed Red Lobster’s. Darden also acquired fast-growing chains such as Longhorn Steakhouse, Capital Grille and Yard House.
+    
+            “Darden stopped investing in Red Lobster. Things slowly deteriorated,” Les Foreman, a director of operations and divisional vice president at Red Lobster from 2002 to 2022, told CNN. Red Lobster’s sales began declining and Darden prioritized investments in its other brands.
+    
+            Darden soon faced pressure from activist investors pushing the company to split in two.
+    
+            Darden responded to activist pressure by announcing plans in 2013 to sell Red Lobster, separating the chain from the rest of its business.
+    
+            The following year, Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. To help fund the deal, Red Lobster spun off its real estate assets in a transaction known as a sale leaseback agreement. Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants.
+    
+            Sale leasebacks are very common in the restaurant industry, but the arrangement wound up hurting Red Lobster because it became stuck with leases it no longer could afford to pay.
+    
+            “That produced cost pressures on Red Lobster that they’ve never had before,” said analyst John Gordon. “It became a problem.”
+    
+            At the same time, fast-casual and quick-service restaurants grew with lower prices, thousands of new drive-thru locations and online delivery. These chains pressured the casual dining sector.
+    
+            Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.
+    
+            Red Lobster’s controlling shareholder Thai Union also hurt the brand, say former employees and analysts.
+    
+            Thai Union was a top supplier of shrimp to Red Lobster for more than 20 years. In 2016, Thai Union took a $575 million minority stake in the brand. In 2020, Thai Union deepened its financial interest in Red Lobster.
+    
+            Thai Union saw an opportunity to grow its business and also become a bigger supplier to Red Lobster.
+    
+            It also tested squeezing Red Lobster’s waitstaff to the breaking point to save on labor costs, switching from waiters covering three tables to 10.
+    
+            Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer. All left the company within two years.
+    
+            Then came the all-you-can-eat shrimp mishap last year.
+    
+            “We were expecting an increase of 20% in customer traffic, but the actual number was up to 40%,” Thai Union CEO Thiraphong Chansiri said in November.
+    
+            Two months later, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment. The company blamed the pandemic, as well as “sustained industry headwinds, higher interest rates and rising material and labor costs.”
+    
+            “I’m going to stop eating lobster,” Chansiri said this year.",CNN,20/05/2024,"['Last summer, Red Lobster made $20 endless shrimp a permanent menu item.', 'Endless shrimp was a successful annual limited-time offer for Red Lobster for 20 years.', 'But Red Lobster’s latest major shareholder, Thai Union, a Bangkok-based canned seafood company, saw the promotion as a way to sell off the mountains of shrimp it was catching and turned it into an everyday item. (', 'Thai Union became Red Lobster’s largest investor in 2020.)', 'The change cost Red Lobster $11 million.', 'Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap.', 'Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed.', 'Under a CEO appointed at the direction of Thai Union, Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal to provide shrimp for the chain, the filing said.', 'That led to higher costs, and it did not comply with the company’s typical decision-making process for picking suppliers based on projected demand, according to the chain’s filing.', '“This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing.', 'Thai Union did not immediately respond to CNN’s request for comment.', 'Endless shrimp alone didn’t doom Red Lobster.', 'The American poster child for seafood was dragged down by a range of factors, say former leaders at the chain and restaurant analysts — including handoffs between a mix of investors and corporate parents and Thai Union’s mismanagement.', '“Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing.', 'The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.', 'And years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to add Millennials to its core Baby Boomer customer base.', '“Red Lobster was the foundation of casual dining.', 'They had a position of power and prominence and revolutionized how American consumers eat seafood,” said Alex Susskind, a professor of food and beverage management at Cornell University, in a previous interview with CNN.', 'But the company didn’t build on that foundation, Susskind said. “', 'Red Lobster had incredible popularity among Baby Boomers.', 'They didn’t bring in a newer generation.”', 'When the first Red Lobster opened in 1968 in Lakeland, Florida, an hour south of Orlando, casual dining was in its infancy.', 'The brand was started by southern restaurateurs Bill Darden and Charley Woodsby.', 'Darden owned several Howard Johnson’s restaurants, one of the first casual dining concepts.', '“Our motto was informal and family prices,” Woodsbylater said.', 'They saw an opportunity to bring seafood to landlocked people at more affordable prices than fine-dining restaurants.', '“In most of middle America, you couldn’t get decent seafood.', 'Red Lobster brought it to the masses,” said Jonathan Maze, the editor in chief at Restaurant Business Magazine, a trade publication. “', 'Red Lobster was part of this casual dining revolution.”', 'Just two years into Darden and Woodsby’s venture, General Mills acquired the brand.', 'General Mills owned brands like Wheaties, Cheerios and Betty Crocker, and the company wanted to enter the restaurant industry with Red Lobster’s five no-frills restaurants.', 'By the early 1970s, with General Mills’ advertising muscle behind it, Red Lobster opened restaurants across the South.', 'Red Lobster rose quickly and was the first casual dining chain to advertise on network television, according to a Harvard Business Schoolstudy.', 'Red Lobster also developed the first national seafood distribution system in the 1970s.', '“Many diners preferred their seafood fried in those days, and Red Lobster’s hush puppies could be considered an early ‘signature item,’” Joe Lee, the first general manager at Red Lobster and later its president, said in a journalarticle. “', 'Families were welcomed with high chairs and a 59-cent child’s plate.”', 'By 1978, Red Lobster had 236 restaurants and $291 million in sales.', 'It had 372 restaurants and $834 million in sales in 1985.', 'In 1995, General Mills spun off its restaurant division into a new company, Darden Restaurants, named for Red Lobster founder Bill Darden.', 'The company initially included the legacy Red Lobster chain and Olive Garden, an upstart chain General Mills had started in 1982.', 'But Red Lobster fell behind its sister brand Olive Garden under Darden.', 'By 2008, Olive Garden’s sales had eclipsed Red Lobster’s.', 'Darden also acquired fast-growing chains such as Longhorn Steakhouse, Capital Grille and Yard House.', '“Darden stopped investing in Red Lobster.', 'Things slowly deteriorated,” Les Foreman, a director of operations and divisional vice president at Red Lobster from 2002 to 2022, told CNN.', 'Red Lobster’s sales began declining and Darden prioritized investments in its other brands.', 'Darden soon faced pressure from activist investors pushing the company to split in two.', 'Darden responded to activist pressure by announcing plans in 2013 tosell Red Lobster, separating the chain from the rest of its business.', 'The following year, Dardensold Red Lobsterto Golden Gate Capital, a private equity firm, for $2.1 billion.', 'To help fund the deal, Red Lobster spun off its real estate assets in a transaction known as a sale leaseback agreement.', 'Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants.', 'Sale leasebacks are very common in the restaurant industry, but the arrangement wound up hurting Red Lobster because it became stuck with leases it no longer could afford to pay.', '“That produced cost pressures on Red Lobster that they’ve never had before,” said analyst John Gordon. “', 'It became a problem.”', 'At the same time, fast-casual and quick-service restaurants grew with lower prices, thousands of new drive-thru locations and online delivery.', 'These chains pressured the casual dining sector.', 'Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.', 'Red Lobster’s controlling shareholder Thai Union also hurt the brand, say former employees and analysts.', 'Thai Union was a top supplier of shrimp to Red Lobster for more than 20 years.', 'In 2016, Thai Union took a $575 million minority stake in the brand.', 'In 2020, Thai Union deepened its financial interest in Red Lobster.', 'Thai Union saw an opportunity to grow its business and also become a bigger supplier to Red Lobster.', 'It also tested squeezing Red Lobster’s waitstaff to the breaking point to save on labor costs, switching from waiters covering three tables to 10.', 'Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn.', 'In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.', 'All left the company within two years.', 'Then came the all-you-can-eat shrimp mishap last year.', '“We were expecting an increase of 20% in customer traffic, but the actual number was up to 40%,” Thai Union CEO Thiraphong Chansiri said in November.', 'Two months later, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment.', 'The company blamed the pandemic, as well as “sustained industry headwinds, higher interest rates and rising material and labor costs.”', '“I’m going to stop eating lobster,” Chansiri said this year.']",0.0336547402723664,The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.,"Sale leasebacks are very common in the restaurant industry, but the arrangement wound up hurting Red Lobster because it became stuck with leases it no longer could afford to pay.",-0.1549297715055531,"“We were expecting an increase of 20% in customer traffic, but the actual number was up to 40%,” Thai Union CEO Thiraphong Chansiri said in November.","“Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing.",2024-05-23
+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.",2024-05-23
+Court rules Elvis’ Graceland mansion cannot be foreclosed upon – for now,https://edition.cnn.com/2024/05/22/investing/graceland-foreclosure-hearing/index.html,"
+  Updated
+        3:28 PM EDT, Wed May 22, 2024
+    ","Graceland can stay in the hands of Elvis Presley’s family for the time being, after a Tennessee court chancellor ruled Wednesday that a mysterious company trying to sell it likely committed fraud.
+    
+            Chancellor JoeDae Jenkins said that a planned foreclosure sale of Graceland, Elvis Presley’s historic Memphis home, would be postponed at least until a future hearing determines who maintains rightful ownership of the estate. A bizarre series of events set the late singer’s granddaughter against a mysterious company that claimed Elvis’ daughter gave it Graceland’s deed.
+    
+            A hearing in the Shelby County, Tennessee, Chancery Court determined that Thursday’s planned foreclosure auction of Graceland would irreparably harm Elvis’ granddaughter, Danielle Riley Keough, who sued to block the sale. Keough took ownership of the estate and popular tourist attraction after her mother and Elvis’ daughter, Lisa Marie Presley, died in January 2023.
+    
+            “The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Jenkins said.
+    
+            Jenkins also said there was evidence that a company trying to foreclose on Graceland had forged documents that it claimed gave it the right to sell the property. After the hearing, a person who said he represented the company trying to foreclose said it would drop its claim.
+    
+            In a statement, Graceland said the property will continue to operate.
+    
+            “As the court has now made clear, there was no validity to the claims,” the statement read. “There will be no foreclosure.  Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”
+    
+            A company called Naussany Investments & Private Lending LLC had claimed that Lisa Marie Presley failed to pay back a $3.8 million loan it had given her – and Naussany said Presley had put up Graceland as collateral against the loan. Seeking repayment, it had scheduled an auction of the estate.
+    
+            This was no typical foreclosure sale. Keough filed a lawsuit earlier this month, claiming there was no such loan. She also claims Naussany isn’t even a real company.
+    
+            “These documents are fraudulent,” Keough’s lawsuit alleges. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
+    
+            The lawsuit alleges Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of defrauding.”
+    
+            Although Naussany provided what appears to be a 2018 notarized promissory note signed by Lisa Marie Presley to put up Graceland as collateral, Keough’s lawsuit said that was a forgery. In a signed affidavit, the notary public denied ever notarizing anything that Lisa Marie Presley had signed.
+    
+            Chancellor Jenkins said that affidavit was sufficient evidence to delay the foreclosure until a hearing can determine the facts. But Jenkins also said the evidence suggested Keough was telling the truth.
+    
+            “It appears you’ll be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary,” Jenkins said Wednesday.
+    
+            Naussany said it is not going to proceed with its claim and “will be withdrawing all claims with prejudice,” according to a statement released today by a person identified as a representative of Naussany Investments & Private Lending LLC, the company accused of trying to fraudulently foreclose on the historic property.
+    
+            “Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and Naussany Investments & Private Lending will not acquire to proceed,” the company said.. “That comes from consultation of the lawyers for the company. There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”
+    
+            Elvis Presley Enterprises, the company that manages Presley’s estate, concurred that Naussany’s claim was illegitimate.
+    
+            “Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud.”
+    
+            A judge last week granted a temporary restraining order, preventing Naussany from selling Graceland. Jenkins extended that order Wednesday.
+    
+            Following Lisa Marie Presley’s death, Keogh and her grandmother, Priscilla Presley, fought over the rights to her estate – including Graceland. Ultimately, Keough and Presley settled, and Keough became Graceland’s sole owner.
+    
+            In 2004, Lisa Marie Presley sold 85% of Elvis Presley Enterprises’ assets in a deal reportedly worth more than $100 million. But she maintained complete ownership of the Graceland mansion and Elvis’ personal items housed in what is now the Graceland museum, according to the Graceland website.
+    
+            Graceland is one of the South’s biggest tourist draws, visited by hundreds of thousands of people each year, Graceland says on its website. Lisa Marie Presley annually earned seven figures from it, based on a court filing in her 2022 divorce.
+    
+            Keough was born to parents Lisa Marie Presley and musician Danny Keough in 1989. She is a well-known actor, appearing in “Mad Max Fury Road” and other Hollywood hits. She also appears in Hulu’s “Under the Bridge.”
+    
+            First credited as an actor in the movie the Runaways in 2010, Keough has racked up a number of acting roles. She recently starred in “Daisy Jones & The Six,” where she played a troubled musician in a band about to make it big.
+    
+            In a piece for Vanity Fair, Keough revealed she has a daughter, Tupelo Storm Smith-Petersen, who was born via surrogate in August 2022. Elvis was born in Tupelo, Mississippi, in 1935, but Keough said the name is a tribute to her late brother, Benjamin Storm Keough, who died in 2020 at the age of 27.",CNN,22/05/2024,"['Graceland can stay in the hands of Elvis Presley’s family for the time being, after a Tennessee court chancellor ruled Wednesday that a mysterious company trying to sell it likely committed fraud.', 'Chancellor JoeDae Jenkins said that a planned foreclosure sale of Graceland, Elvis Presley’s historic Memphis home, would be postponed at least until a future hearing determines who maintains rightful ownership of the estate.', 'A bizarre series of events set the late singer’s granddaughter against a mysterious company that claimed Elvis’ daughter gave it Graceland’s deed.', 'A hearing in the Shelby County, Tennessee, Chancery Court determined that Thursday’s planned foreclosure auction of Graceland would irreparably harm Elvis’ granddaughter, Danielle Riley Keough, who sued to block the sale.', 'Keough took ownership of the estate and popular tourist attraction after her mother and Elvis’ daughter, Lisa Marie Presley, died in January 2023.', '“The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Jenkins said.', 'Jenkins also said there was evidence that a company trying to foreclose on Graceland had forged documents that it claimed gave it the right to sell the property.', 'After the hearing, a person who said he represented the company trying to foreclose said it would drop its claim.', 'In a statement, Graceland said the property will continue to operate.', '“As the court has now made clear, there was no validity to the claims,” the statement read. “', 'There will be no foreclosure.', 'Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”', 'A company called Naussany Investments & Private Lending LLC had claimed that Lisa Marie Presley failed to pay back a $3.8 million loan it had given her – and Naussany said Presley had put up Graceland as collateral against the loan.', 'Seeking repayment, it had scheduled an auction of the estate.', 'This was no typical foreclosure sale.', 'Keough filed a lawsuit earlier this month, claiming there was no such loan.', 'She also claimsNaussany isn’t even a real company.', '“These documents are fraudulent,” Keough’s lawsuit alleges. “', 'Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”', 'The lawsuit alleges Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of defrauding.”', 'Although Naussany provided what appears to be a 2018 notarized promissory note signed by Lisa Marie Presley to put up Graceland as collateral, Keough’s lawsuit said that was a forgery.', 'In a signed affidavit, the notary public denied ever notarizing anything that Lisa Marie Presley had signed.', 'Chancellor Jenkins said that affidavit was sufficient evidence to delay the foreclosure until a hearing can determine the facts.', 'But Jenkins also said the evidence suggested Keough was telling the truth.', '“It appears you’ll be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary,” Jenkins said Wednesday.', 'Naussany said it is not going to proceed with its claim and “will be withdrawing all claims with prejudice,” according to a statement releasedtodayby a personidentified as a representative ofNaussany Investments & Private Lending LLC, the company accused of trying to fraudulently foreclose on the historic property.', '“Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and Naussany Investments & Private Lending will not acquire to proceed,” the company said.. “That comes from consultation of the lawyers for the company.', 'There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”', 'Elvis Presley Enterprises, the company that manages Presley’s estate, concurred that Naussany’s claim was illegitimate.', '“Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “', 'There is no foreclosure sale.', 'Simply put, the counter lawsuit has been filed is to stop the fraud.”', 'A judge last week granted a temporary restraining order, preventing Naussany from selling Graceland.', 'Jenkins extended that order Wednesday.', 'Following Lisa Marie Presley’s death, Keogh and her grandmother, Priscilla Presley, fought over the rights to her estate – including Graceland.', 'Ultimately, Keough and Presley settled, and Keough became Graceland’s sole owner.', 'In 2004, Lisa Marie Presley sold 85% of Elvis Presley Enterprises’ assets in adeal reportedly worth more than $100 million.', 'But she maintained complete ownership of theGraceland mansion and Elvis’ personal items housed in what is now the Graceland museum, according to the Graceland website.', 'Graceland is one of the South’s biggest tourist draws, visited by hundreds of thousands of people each year, Graceland says on its website.', 'Lisa Marie Presley annually earned seven figures from it, based on a court filing in her 2022 divorce.', 'Keough was born to parents Lisa Marie Presley and musician Danny Keough in 1989.', 'She is a well-known actor, appearing in “Mad Max Fury Road” and other Hollywood hits.', 'She also appears in Hulu’s “Under the Bridge.”', 'First credited as an actor in the movie the Runaways in 2010, Keough has racked up a number of acting roles.', 'She recently starred in “Daisy Jones & The Six,” where she played a troubled musician in a band about to make it big.', 'In a piece for Vanity Fair, Keough revealed she has a daughter, Tupelo Storm Smith-Petersen, who was born via surrogate in August 2022.', 'Elvis was born in Tupelo, Mississippi, in 1935, but Keough said the name is a tribute to her late brother, Benjamin Storm Keough, who died in 2020 at the age of 27.']",-0.151347125530013,"Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”","Simply put, the counter lawsuit has been filed is to stop the fraud.”",-0.0540535052617391,"“It appears you’ll be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary,” Jenkins said Wednesday.",A company called Naussany Investments & Private Lending LLC had claimed that Lisa Marie Presley failed to pay back a $3.8 million loan it had given her – and Naussany said Presley had put up Graceland as collateral against the loan.,2024-05-23
+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.  Former Post Office chief executive Paula Vennells is giving evidence to the public inquiry into the scandal, the first time she has spoken publicly about it in almost a decade.  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 102 convictions had been overturned by March 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. The fifth phase began on Tuesday 9 April, with campaigner Alan Bates the first to appear.  He 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. The inquiry also heard from 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.  Ms Vennells, chief executive between 2012 and 2019, is giving evidence for three days.  She began by saying sorry to ""the subpostmasters and their families who have suffered as a result of all that the inquiry has been looking into for so long"". She also restated the apology in her written witness statement to a number of campaigners and Lord Arbuthnot that she and her colleagues had ""made their work so much harder"". 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"". 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.', 'Former Post Office chief executive Paula Vennells is giving evidence to the public inquiry into the scandal, the first time she has spoken publicly about it in almost a decade.', '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 102 convictions had been overturned by March 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.', 'The fifth phase began on Tuesday 9 April, with campaigner Alan Bates the first to appear.', 'He 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.', 'The inquiry also heard from 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.', 'Ms Vennells, chief executive between 2012 and 2019, is giving evidence for three days.', 'She began by saying sorry to ""the subpostmasters and their families who have suffered as a result of all that the inquiry has been looking into for so long"".', 'She also restated the apology in her written witness statement to a number of campaigners and Lord Arbuthnot that she and her colleagues had ""made their work so much harder"".', '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"".', '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"".']",-0.0514311879411465,"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.",-0.4761635959148407,"She also restated the apology in her written witness statement to a number of campaigners and Lord Arbuthnot that she and her colleagues had ""made their work so much harder"".","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",2024-05-23
+UK inflation rate calculator: How much are prices rising for you?,https://www.bbc.co.uk/news/business-62558817,2022-08-17T06:39:38.000Z,"Every month there's a new figure for inflation - it estimates how much prices are rising across all the goods and services in the economy. In the 12 months to April 2024, the figure was 2.3%. That means things costing £1 in April 2023 cost just over £1.02 the same time the following year. Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for your household, and identifies the items in your household budget that have gone up the most in price over the past year. Note: in the calculator, the ONS compares your personal inflation rate with CPIH, a measure of inflation that includes housing costs for those who own their home, rather than the more widely-reported measure called CPI. In April 2024 this was 3.0%. If you can't see the calculator, click here. ",BBC,17/08/2022,"[""Every month there's a new figure for inflation - it estimates how much prices are rising across all the goods and services in the economy."", 'In the 12 months to April 2024, the figure was 2.3%.', 'That means things costing £1 in April 2023 cost just over £1.02 the same time the following year.', 'Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for your household, and identifies the items in your household budget that have gone up the most in price over the past year.', 'Note: in the calculator, the ONS compares your personal inflation rate with CPIH, a measure of inflation that includes housing costs for those who own their home, rather than the more widely-reported measure called CPI.', 'In April 2024 this was 3.0%.', ""If you can't see the calculator, click here.""]",0.0,,,0.9732926487922668,"Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for your household, and identifies the items in your household budget that have gone up the most in price over the past year.",,2024-05-23
+"Mortgage rates fall for the third straight week, dipping below 7%",https://edition.cnn.com/2024/05/23/economy/mortgage-rates-fall-week-of-may-23/index.html,"
+  Updated
+        12:33 PM EDT, Thu May 23, 2024
+    ","Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market.
+    
+            The standard 30-year fixed-rate mortgage averaged 6.94% in the week ending May 23, down from last week’s average of 7.02%, according to Freddie Mac data released Thursday. That’s the lowest level since early April and below the key 7% threshold.
+    
+            After moving sideways throughout March, mortgage rates began to climb in late April as economic data showed that inflation’s cooldown stalled earlier in the year. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates.
+    
+            Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer. But there’s finally been some good news on that front: The Consumer Price Index for April, released last week, showed that inflation didn’t pick up. Bond yields have mostly retreated this month.
+    
+            “Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” Sam Khater, Freddie Mac’s chief economist, said in a release.
+    
+            Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year. That bodes well for lower mortgage rates.
+    
+            But for now, the housing market’s recovery is stagnant. Sales of previously owned homes, which make up the vast majority of the housing market, fell in April for the second month in a row, the National Association of Realtors reported Wednesday. That’s a stark contrast from earlier in the year when sales soared.
+    
+            Mortgage rates are down from a two-decade peak reached last fall, but they’re still higher than anything seen in the decade leading up to 2022. That’s not the only key issue besieging the housing market.
+    
+            Another is a persistent under-supply of housing that is simply not keeping up with demand, despite some steady improvements in recent months. That’s partly due to some homeowners deciding to not sell their homes because they’re holding onto the low mortgage rates they locked in before the Fed began to raise interest rates in 2022. With mortgage rates still elevated, some homeowners are deciding to stay put.
+    
+            The pace of residential construction is also not easing enough of the pressure on the housing market to meaningfully improve affordability. Housing starts rebounded in April to a seasonally adjusted annual rate of 1.36 million units, after declining sharply in the prior month, according to a separate report released last week. But the trend is nowhere near where it should be to make the market easier for many Americans.
+    
+            “The country needs around 1.6 million or higher for a few years to truly bring about a balance in the housing sector,” Lawrence Yun, NAR’s chief economist, said in statement.
+    
+            “The housing shortage is not going away,” he said.
+    
+            Still, there have been some steps in the right direction. NAR reported on Wednesday that housing supply continued to improve in April for the fourth straight month. Total housing inventory at the end of April was 1.21 million units, up 9% from the prior month and 16.3% from a year earlier, according to NAR data, though Yun said that “we still have tight inventory,”
+    
+            Another hurdle is that home prices remain painfully elevated and out of reach for many Americans, especially first-time buyers.
+    
+            NAR reported Wednesday that home prices continued to rise in April, with the median price of an existing home increasing 5.7% from a year earlier to $407,600. That was the fourth straight monthly expansion and was a record for April prices.
+    
+            Other measures of home prices have shown the same: US home-price growth picked up in February at the fastest annual pace since November 2022, according to the S&P CoreLogic Case-Shiller US National Home Price Index. Home prices in San Diego, Chicago and Detroit grew the most in February.
+    
+            High borrowing costs coupled with rising prices and not enough homes on the markets have created a difficult housing market for many. President Joe Biden has proposed some solutions to improve affordability, which would need congressional approval, such as tax credits for middle-class buyers and legislation to shore up homebuilding.
+    
+            This story has been updated with additional details and context.",CNN,23/05/2024,"['Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market.', 'The standard 30-year fixed-rate mortgage averaged 6.94% in the week ending May 23, down from last week’s average of 7.02%, according to Freddie Mac data released Thursday.', 'That’s the lowest level since early April and below the key 7% threshold.', 'After moving sideways throughout March, mortgage rates began to climb in late April as economic data showed that inflation’s cooldown stalled earlier in the year.', 'Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates.', 'Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer.', 'But there’s finally been some good news on that front: The Consumer Price Index for April, released last week, showed that inflation didn’t pick up.', 'Bond yields have mostly retreated this month.', '“Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” Sam Khater, Freddie Mac’s chief economist, said in a release.', 'Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year.', 'That bodes well for lower mortgage rates.', 'But for now, the housing market’s recovery is stagnant.', 'Sales of previously owned homes, which make up the vast majority of the housing market, fell in April for the second month in a row, the National Association of Realtors reported Wednesday.', 'That’s a stark contrast from earlier in the year when sales soared.', 'Mortgage rates are down from a two-decade peak reached last fall, but they’re still higher than anything seen in the decade leading up to 2022.That’s not the only key issue besieging the housing market.', 'Another is a persistent under-supply of housing that is simply not keeping up with demand, despite some steady improvements in recent months.', 'That’s partly due to some homeowners deciding to not sell their homes because they’re holding onto the low mortgage rates they locked in before the Fed began to raise interest rates in 2022.', 'With mortgage rates still elevated, some homeowners are deciding to stay put.', 'The pace of residential construction is also not easing enough of the pressure on the housing market to meaningfully improve affordability.', 'Housing starts rebounded in April to a seasonally adjusted annual rate of 1.36 million units, after declining sharply in the prior month, according to a separate report released last week.', 'But the trend is nowhere near where it should be to make the market easier for many Americans.', '“The country needs around 1.6 million or higher for a few years to truly bring about a balance in the housing sector,” Lawrence Yun, NAR’s chief economist, said in statement.', '“The housing shortage is not going away,” he said.', 'Still, there have been some steps in the right direction.', 'NAR reported on Wednesday that housing supply continued to improve in April for the fourth straight month.', 'Total housing inventory at the end of April was 1.21 million units, up 9% from the prior month and 16.3% from a year earlier, according to NAR data, though Yun said that “we still have tight inventory,”  Another hurdle is that home prices remain painfully elevated and out of reach for many Americans, especially first-time buyers.', 'NAR reported Wednesday that home prices continued to rise in April, with the median price of an existing home increasing 5.7% from a year earlier to $407,600.', 'That was the fourth straight monthly expansion and was a record for April prices.', 'Other measures of home prices have shown the same: US home-price growth picked up in February at the fastest annual pace since November 2022, according to the S&P CoreLogic Case-Shiller US National Home Price Index.', 'Home prices in San Diego, Chicago and Detroit grew the most in February.', 'High borrowing costs coupled with rising prices and not enough homes on the markets have created a difficult housing market for many.', 'President Joe Biden has proposed some solutions to improve affordability, which would need congressional approval, such as tax credits for middle-class buyers and legislation to shore up homebuilding.', 'This story has been updated with additional details and context.']",0.1086213556493509,"President Joe Biden has proposed some solutions to improve affordability, which would need congressional approval, such as tax credits for middle-class buyers and legislation to shore up homebuilding.","Total housing inventory at the end of April was 1.21 million units, up 9% from the prior month and 16.3% from a year earlier, according to NAR data, though Yun said that “we still have tight inventory,”  Another hurdle is that home prices remain painfully elevated and out of reach for many Americans, especially first-time buyers.",0.1789480653302423,"NAR reported Wednesday that home prices continued to rise in April, with the median price of an existing home increasing 5.7% from a year earlier to $407,600.","The standard 30-year fixed-rate mortgage averaged 6.94% in the week ending May 23, down from last week’s average of 7.02%, according to Freddie Mac data released Thursday.",2024-05-23
+"Ivan Boesky, famed trader in 1980s insider trading scandal, dies at 87",https://edition.cnn.com/2024/05/20/investing/ivan-boesky-dies-wall-street/index.html,"
+  Published
+        2:32 PM EDT, Mon May 20, 2024
+    ","Ivan Boesky, the infamous insider trader whose name became synonymous with financial greed and helped inspire the fictional character Gordon Gekko in the 1987 film “Wall Street,” has died at his home in the La Jolla neighborhood of San Diego. He was 87.
+    
+            His daughter, Marianne Boesky, confirmed to CNN on Monday that he died in his sleep.
+    
+            “A dedicated and loving father above all else. A beautiful soul who inspired me to work hard, care harder, and always remain curious,” read a caption on a Monday Instagram post by the account associated with Marianne Boesky’s art gallery.
+    
+            Boesky famously said in a 1986 commencement speech at the Haas School of Business at the University of California, Berkeley, that “greed is healthy,” inspiring in part to Gekko’s “greed is good” speech.
+    
+            Nicknamed “Ivan the Terrible” on a 1986 Time Magazine cover, Boesky profited from the corporate takeover boom in the 1980s, using insider information to receive advanced information on pending deals.
+    
+            When investigators began catching whiff of his activities, along with that of “junk bond king” Michael Milken, he agreed to cooperate with the federal government as they investigated insider trading on Wall Street, which had become a concern for the SEC by the early 1980s.
+    
+            He recorded calls and meetings, including with Milken, and taught investigators about stock manipulation, takeover bids and corporate raids, according to the SEC Historical Society.
+    
+            He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.
+    
+            Boesky was barred from securities trading for the rest of his life.
+    
+            The son of a delicatessen owner in Detroit, Boesky began his Wall Street career as a stock analyst at New York investment bank L.F. Rothschild after graduating from the Detroit College of Law in 1964. By 1975, he would open up his own brokerage firm, Ivan F. Boesky & Company, which his wife’s family helped finance. By the spring of 1985, he was reportedly the highest-paid broker on Wall Street with a net worth over $280 million (roughly $820 million in 2024).
+    
+            He is survived by his wife Ana, his five children and four grandchildren.",CNN,20/05/2024,"['Ivan Boesky, the infamous insider trader whose name became synonymous with financial greed and helped inspire the fictional character Gordon Gekko in the 1987 film “Wall Street,” has died at his home in the La Jolla neighborhood of San Diego.', 'He was 87.', 'His daughter, Marianne Boesky, confirmed to CNN on Monday that he died in his sleep.', '“A dedicated and loving father above all else.', 'A beautiful soul who inspired me to work hard, care harder, and always remain curious,” read a caption on a Monday Instagram post by the account associated with Marianne Boesky’s art gallery.', 'Boesky famously said in a 1986 commencement speech at the Haas School of Business at the University of California, Berkeley, that “greed is healthy,” inspiring in part to Gekko’s “greed is good” speech.', 'Nicknamed “Ivan the Terrible” on a 1986 Time Magazine cover, Boesky profited from the corporate takeover boom in the 1980s, using insider information to receive advanced information on pending deals.', 'When investigators began catching whiff of his activities, along with that of “junk bond king” Michael Milken, he agreed to cooperate with the federal government as they investigated insider trading on Wall Street, which had become a concern for the SEC by the early 1980s.', 'He recorded calls and meetings, including with Milken, and taught investigators about stock manipulation, takeover bids and corporate raids, according to the SEC Historical Society.', 'He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.', 'Boesky was barred from securities trading for the rest of his life.', 'The son of a delicatessen owner in Detroit, Boesky began his Wall Street career as a stock analyst at New York investment bank L.F. Rothschild after graduating from the Detroit College of Law in 1964.', 'By 1975, he would open up his own brokerage firm, Ivan F. Boesky & Company, which his wife’s family helped finance.', 'By the spring of 1985, he was reportedly the highest-paid broker on Wall Street with a net worth over $280 million (roughly $820 million in 2024).', 'He is survived by his wife Ana, his five children and four grandchildren.']",0.1086546545324258,"A beautiful soul who inspired me to work hard, care harder, and always remain curious,” read a caption on a Monday Instagram post by the account associated with Marianne Boesky’s art gallery.","He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.",0.9994584918022156,"Boesky famously said in a 1986 commencement speech at the Haas School of Business at the University of California, Berkeley, that “greed is healthy,” inspiring in part to Gekko’s “greed is good” speech.",,2024-05-23
+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.",2024-05-23
+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.”",2024-05-23
+Nvidia’s incredibly pricey shares are about to get much cheaper,https://edition.cnn.com/2024/05/22/business/nvidias-stock-split-earnings-results/index.html,"
+  Updated
+        5:14 PM EDT, Wed May 22, 2024
+    ","Nvidia announced a 10-for-1 stock split on Wednesday, making buying shares in the red-hot semiconductor company more accessible for individual investors.
+    
+            Five years ago, an investor could have purchased Nvidia stock for less than $50 a share. But since then, the stock has exploded more than 2,500%. A single share in the company was worth $949.50 as of Wednesday’s close.
+    
+            Nvidia’s (NVDA) announcement, which came in its quarterly earnings report, means that each common share will be split into 10 smaller shares, effectively cutting the price of investing in the company.
+    
+            The company posted yet another quarter of strong financial results on Wednesday, as well. Nvidia reported a 262% increase in revenue and a 462% increase in profits year-over-year.
+    
+            Nvidia’s post-split shares will begin trading at the market open on June 10, coming at a time when Nvidia’s stock has been on a tear, fueled by investor enthusiasm about the company’s role in artificial intelligence.
+    
+            Nvidia shares rose as much as 4% in after-hours trading following the report.
+    
+            Nvidia is crucial to the burgeoning AI space. The American chipmaker is unmatched in producing processors that power artificial intelligence systems, including for generative AI, the buzzy new technology that can create text, images and other media.
+    
+             And the company’s soaring stock price over the past year means Nvidia is now deeply important to the broader market, too. The company has become something of a bellwether for the larger AI boom that has been driving the recent market rally.
+    
+            That the company was again able to exceed Wall Street’s predications for its booming sales growth on Wednesday isn’t entirely surprising. Many of the major tech giants, including Microsoft, Meta, Alphabet and others, have announced in recent weeks that they’re continuing to pour billions of dollars into building AI infrastructure, and no company is better poised to be the beneficiary of that investment than Nvidia.
+    
+            Still, some investors had raised questions ahead of Wednesday’s report about just how long Nvidia could keep the rally going. The company faces growing competition from in-house AI chips from Amazon and Alphabet, and it has had to contend with US restrictions on exports of advanced AI chips to China.
+    
+            “There was no secret around Wall Street that Nvidia’s earnings would come in hot once again,” Investing.com senior analyst Thomas Monteiro said in a statement following the report. “While the company didn’t repeat the same total blowout from the last few quarters in any specific area, today’s numbers remain incredibly strong, leaving no doubt that the company’s leadership in the AI revolution remains unchallenged for now.”
+    
+            Nvidia said it expects revenue for the current quarter to grow approximately 107% year-over-year, a slight slowdown from the meteoric sales growth the company has posted over the past few quarters as it hits the one-year mark from when the AI boom began to take off.",CNN,22/05/2024,"['Nvidia announced a 10-for-1 stock split on Wednesday, making buying shares in the red-hot semiconductor company more accessible for individual investors.', 'Five years ago, an investor could have purchased Nvidia stock for less than $50 a share.', 'But since then, the stock has exploded more than 2,500%.', 'A single share in the company was worth $949.50 as of Wednesday’s close.', 'Nvidia’s (NVDA) announcement, which came in its quarterly earnings report, means that each common share will be split into 10 smaller shares, effectively cutting the price of investing in the company.', 'The company posted yet another quarter of strong financial results on Wednesday, as well.', 'Nvidia reported a 262% increase in revenue and a 462% increase in profits year-over-year.', 'Nvidia’s post-split shares will begin trading at the market open on June 10, coming at a time when Nvidia’s stock has been on a tear, fueled by investor enthusiasm about the company’s role in artificial intelligence.', 'Nvidia shares rose as much as 4% in after-hours trading following the report.', 'Nvidia is crucial to the burgeoning AI space.', 'The American chipmaker is unmatched in producing processors that power artificial intelligence systems, including for generative AI, the buzzy new technology that can create text, images and other media.', 'And the company’s soaring stock price over the past year means Nvidia is now deeply important to the broader market, too.', 'The company has become something of a bellwether for the larger AI boom that has been driving the recent market rally.', 'That the company was again able to exceed Wall Street’s predications for its booming sales growth on Wednesday isn’t entirely surprising.', 'Many of the major tech giants, including Microsoft, Meta, Alphabet and others, have announced in recent weeks that they’re continuing to pour billions of dollars into building AI infrastructure, and no company is better poised to be the beneficiary of that investment than Nvidia.', 'Still, some investors had raised questions ahead of Wednesday’s report about just how long Nvidia could keep the rally going.', 'The company faces growing competition from in-house AI chips from Amazon and Alphabet, and it has had to contend with US restrictions on exports of advanced AI chips to China.', '“There was no secret around Wall Street that Nvidia’s earnings would come in hot once again,” Investing.com senior analyst Thomas Monteiro said in a statement following the report. “', 'While the company didn’t repeat the same total blowout from the last few quarters in any specific area, today’s numbers remain incredibly strong, leaving no doubt that the company’s leadership in the AI revolution remains unchallenged for now.”', 'Nvidia said it expects revenue for the current quarter to grow approximately 107% year-over-year, a slight slowdown from the meteoric sales growth the company has posted over the past few quarters as it hits the one-year mark from when the AI boom began to take off.']",0.3541479959924145,"Nvidia’s post-split shares will begin trading at the market open on June 10, coming at a time when Nvidia’s stock has been on a tear, fueled by investor enthusiasm about the company’s role in artificial intelligence.","“There was no secret around Wall Street that Nvidia’s earnings would come in hot once again,” Investing.com senior analyst Thomas Monteiro said in a statement following the report. “",0.8398077317646572,Nvidia shares rose as much as 4% in after-hours trading following the report.,"The company faces growing competition from in-house AI chips from Amazon and Alphabet, and it has had to contend with US restrictions on exports of advanced AI chips to China.",2024-05-23
+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.",2024-05-23
+Privacy experts sound the alarm over Microsoft’s latest AI tool,https://edition.cnn.com/2024/05/22/tech/microsoft-ai-tool-privacy-recall/index.html,"
+  Published
+        3:07 PM EDT, Wed May 22, 2024
+    ","Microsoft’s buzziest new AI feature is raising concerns that it could potentially be misused in the wrong hands.
+    
+            This week, the company showed off a new tool called Recall for Windows computers that acts as a personal “time machine,” allowing users to quickly pull up anything that’s ever been on screen, such as documents, images and websites. It’s different from a keyword search; the tool regularly saves screenshots of the user’s screen and stores them directly on the device. It then uses AI to process the data and make it searchable.
+    
+            For example, if someone previously searched for a green dress or the name of a local ice cream shop, they can ask the feature to “recall” anything in their history that was shown on screen.
+    
+            Although so-called semantic search is a big step forward for AI, it comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.
+    
+            Jen Golbeck – a professor of AI at the University of Maryland who focuses on privacy – said the recall feature could pose a potential “nightmare” if the device falls into the wrong hands.
+    
+            “Stuff may stay on your device, but that doesn’t mean people can’t get to it,” she said. “You won’t have an option to protect yourself even if you use incognito mode or clear your history because the tool has access to everything that’s been on your screen.”
+    
+            The UK’s independent regulator for Data Protection and Freedom of Information, the Information Commissioner’s Office (ICO), told CNN it is investigating the tool “to understand the safeguards in place to protect user privacy.”
+    
+            “We expect organisations to be transparent with users about how their data is being used and only process personal data to the extent that it is necessary to achieve a specific purpose,” the ICO said in a statement.
+    
+            Microsoft did not immediately respond to a request for comment. CEO Satya Nadella told The Wall Street Journal in an interview ahead of Monday’s launch that web searches must only be done on Microsoft’s Edge web browser and that the screenshots never leave the user’s computer.
+    
+            “You have to put two things together: This is my computer and this is my Recall – and it’s all being done locally,” he said.
+    
+            Geoff Blaber, CEO of market research firm CCS Insight, said that makes the issue less concerning.
+    
+            “The backlash by some to this feature isn’t surprising, but it’s an overreaction given that the data stays exclusively on the device and the user has full control,” Blaber said.
+    
+            Someone can decide whether to turn the feature on during the device setup process and can customize and blacklist which apps and websites Recall can access.
+    
+            “These controls suggest the feature has been built with security and privacy at its core,” he said. “Recall won’t appeal to everyone but the utility provided is likely to be significant.”
+    
+            But Golbeck cited times when that protection might not be enough, such as a journalist in a hostile country, a person trying to get out of an abusive relationship, someone searching for sensitive medical information or an employee whose boss wants to track them. She believes issues around the tool will likely impact the workplace the most.
+    
+            “We know jobs monitor what we’re doing on their devices, but a lot of people will do a personal thing on their work computer and all of that will be archived and visible to an IT department, even if it just stays on device,” she added.
+    
+            Golbeck said technology, despite the benefits, is too often developed without the consideration of malicious uses.
+    
+            “What we’ve seen over the last 15 years is every single one of those potential malicious use cases comes to fruition in some way or another,” she said. “People will want to use this cool feature without understanding the privacy risk – that there will be a permanent record of everything you do.”
+    
+            Similar reactions to features such as biometric passwords, such as fingerprints, facial recognition and iris scans, have emerged in the past. Blaber said to overcome some of the initial concerns, Microsoft and its partners will need to prove the value, security and privacy of the product in the real world.
+    
+            Still, Michela Menting, a senior research director at ABI Research, believes the feature is a “step backwards” for privacy.
+    
+            “The argument that hackers need physical access to even be able to manipulate Recall is short-sighted at best because there are plenty of highly ingenious ways threat actors could exploit such a valuable tool,” she said. “All it takes is time and effort to find a way.”",CNN,22/05/2024,"['Microsoft’s buzziest new AI feature is raising concerns that it could potentially be misused in the wrong hands.', 'This week, the company showed off a new tool called Recall for Windows computers that acts as a personal “time machine,” allowing users to quickly pull up anything that’s ever been on screen, such as documents, images and websites.', 'It’s different from a keyword search; the tool regularly saves screenshots of the user’s screen and stores them directly on the device.', 'It then uses AI to process the data and make it searchable.', 'For example, if someone previously searched for a green dress or the name of a local ice cream shop, they can ask the feature to “recall” anything in their history that was shown on screen.', 'Although so-called semantic search is a big step forward for AI, it comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.', 'Jen Golbeck – a professor of AI at the University of Maryland who focuses on privacy– said the recall feature could pose a potential “nightmare” if the device falls into the wrong hands.', '“Stuff may stay on your device, but that doesn’t mean people can’t get to it,” she said. “', 'You won’t have an option to protect yourself even if you use incognito mode or clear your history because the tool has access to everything that’s been on your screen.”', 'The UK’s independent regulator for Data Protection and Freedom of Information, the Information Commissioner’s Office (ICO), told CNN it is investigating the tool “to understand the safeguards in place to protect user privacy.”', '“We expect organisations to be transparent with users about how their data is being used and only process personal data to the extent that it is necessary to achieve a specific purpose,” the ICO said in a statement.', 'Microsoft did not immediately respond to a request for comment.', 'CEO Satya Nadella told The Wall Street Journal in an interview ahead of Monday’s launch that web searches must only be done on Microsoft’s Edge web browser and that the screenshots never leave the user’s computer.', '“You have to put two things together: This is my computer and this is my Recall – and it’s all being done locally,” he said.', 'Geoff Blaber, CEO of market research firm CCS Insight, said that makes the issue less concerning.', '“The backlash by some to this feature isn’t surprising, but it’s an overreaction given that the data stays exclusively on the device and the user has full control,” Blaber said.', 'Someone can decide whether to turn the feature on during the device setup process and can customize and blacklist which apps and websites Recall can access.', '“These controls suggest the feature has been built with security and privacy at its core,” he said. “', 'Recall won’t appeal to everyone but the utility provided is likely to be significant.”', 'But Golbeck cited times when that protection might not be enough, such as a journalist in a hostile country, a person trying to get out of an abusive relationship, someone searching for sensitive medical information or an employee whose boss wants to track them.', 'She believes issues around the tool will likely impact the workplace the most.', '“We know jobs monitor what we’re doing on their devices, but a lot of people will do a personal thing on their work computer and all of that will be archived and visible to an IT department, even if it just stays on device,” she added.', 'Golbeck said technology, despite the benefits, is too often developed without the consideration of malicious uses.', '“What we’ve seen over the last 15 years is every single one of those potential malicious use cases comes to fruition in some way or another,” she said. “', 'People will want to use this cool feature without understanding the privacy risk – that there will be a permanent record of everything you do.”', 'Similar reactions to features such as biometric passwords, such as fingerprints, facial recognition and iris scans, have emerged in the past.', 'Blaber said to overcome some of the initial concerns, Microsoft and its partners will need to prove the value, security and privacy of the product in the real world.', 'Still, Michela Menting, a senior research director at ABI Research, believes the feature is a “step backwards” for privacy.', '“The argument that hackers need physical access to even be able to manipulate Recall is short-sighted at best because there are plenty of highly ingenious ways threat actors could exploit such a valuable tool,” she said. “', 'All it takes is time and effort to find a way.”']",0.0268491883350633,"The UK’s independent regulator for Data Protection and Freedom of Information, the Information Commissioner’s Office (ICO), told CNN it is investigating the tool “to understand the safeguards in place to protect user privacy.”","But Golbeck cited times when that protection might not be enough, such as a journalist in a hostile country, a person trying to get out of an abusive relationship, someone searching for sensitive medical information or an employee whose boss wants to track them.",-0.3065819011794196,"Although so-called semantic search is a big step forward for AI, it comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.","Still, Michela Menting, a senior research director at ABI Research, believes the feature is a “step backwards” for privacy.",2024-05-23
+Vet prescription fees could be capped by watchdog,https://www.bbc.co.uk/news/articles/cx00dl5gwp8o,2024-05-23T06:31:07.915Z,"A cap on vets' prescription fees is one of the measures being considered by the UK's competition body as it investigates the sector. The Competition and Markets Authority (CMA) is forging ahead with a formal probe of the vets market amid concerns that pet owners are overpaying for treatments. It said it had heard from people who were struggling to pay vet bills and did not always know the best treatment options for their pets. The British Veterinary Association said regulation of the sector was ""woefully out of date"" as it welcomed the review. The CMA said estimates suggest that as many as 16 million households in the UK have at least one pet. It said the Office for National Statistics has estimated that the cost of veterinary and other pet services has increased by around 50% since 2015, much higher than the overall rate of inflation. The watchdog launched a review last year to ask people if they had any concerns that they could be paying too much, and received 56,000 responses from pet owners, vets and charities. Earlier this year it flagged concerns that pet owners might not be getting basic information like price lists online and were not always informed of the cost of treatment at a vets before agreeing to it. The CMA is now launching a formal investigation, which means it could intervene directly in the market. The regulator outlined three tips for pet owners when looking for treatments: “The message from our vets work so far has been loud and clear – many pet owners and professionals have concerns that need further investigation,"" said Sarah Cardell, the CMA's chief executive. “We’ve heard from people who are struggling to pay vet bills, potentially overpaying for medicines and don’t always know the best treatment options available to them,"" she said.  The CMA said local vet services are worth £2bn-£2.5bn a year, but when other aspects such as cremation, specialist treatments and medicines are taken into account, the overall value of the industry is estimated at £5.7bn a year. The competition body highlighted how the sector was increasingly being dominated by larger firms and how this might be reducing consumer choice There are about 5,000 vet practices in the UK, it said, but since 2013, approximately 1,500 of these have been acquired by six large corporate groups.  They are CVS, Independent Vetcare Ltd, Linnaeus, Medivet, Pets at Home and VetPartners. Four of these six tend to retain the name and branding of an independently-owned practice when they buy it, which the CMA said may create an ""illusion of competition"" for consumers if they are trying to shop around to find alternative practices. The watchdog said the inquiry would look at: It said possible remedies could include forcing firms to provide certain information to consumers, imposing maximum prescription fees, and ordering the sale or break-up of businesses. Malcolm Morley, the British Veterinary Association's (BVA) senior vice president, told the BBC's Today programme that the trade body was ""very keen"" on the inquiry and it had been working closely with CMA in recent months. ""Some of the points the CMA raises are things that we’ve been raising for a long time,"" he said. ""The regulation of vets and veterinary practices is woefully out of date, not fit for purpose."" Mr Morley added that the area of buying treatments online also needed looking at. He said many independent vet practices were forced to buy medicines from wholesalers at prices that were higher than those consumers face when they buy from an online pharmacy.  Gemma Attenborrow, a dog owner from Birmingham, told the BBC she spent almost £10,000 on spinal surgery for her French bulldog Bali. She said she felt she was charged an ""extreme amount"" for average service. Ms Attenborrow said pet owners may be too scared to go the vets because of large bills and that it's ""unfair"" for the animals as well as owners. The CMA also, however, heard from vets who said they sometimes faced abuse from pet owners over what they considered to be high fees. While they acknowledged that fees have risen, they also said interactions with pet owners were also influenced by factors such as: BVA president Dr Anna Judson said: ""Since the CMA first announced their review, vet teams in practice have found themselves on the end of really unpleasant, often abusive behaviour. ""This is unacceptable and we urge everyone to remember that vets are people and are often not responsible for the pricing structures within a practice."" ",BBC,23/05/2024,"[""A cap on vets' prescription fees is one of the measures being considered by the UK's competition body as it investigates the sector."", 'The Competition and Markets Authority (CMA) is forging ahead with a formal probe of the vets market amid concerns that pet owners are overpaying for treatments.', 'It said it had heard from people who were struggling to pay vet bills and did not always know the best treatment options for their pets.', 'The British Veterinary Association said regulation of the sector was ""woefully out of date"" as it welcomed the review.', 'The CMA said estimates suggest that as many as 16 million households in the UK have at least one pet.', 'It said the Office for National Statistics has estimated that the cost of veterinary and other pet services has increased by around 50% since 2015, much higher than the overall rate of inflation.', 'The watchdog launched a review last year to ask people if they had any concerns that they could be paying too much, and received 56,000 responses from pet owners, vets and charities.', 'Earlier this year it flagged concerns that pet owners might not be getting basic information like price lists online and were not always informed of the cost of treatment at a vets before agreeing to it.', 'The CMA is now launching a formal investigation, which means it could intervene directly in the market.', 'The regulator outlined three tips for pet owners when looking for treatments: “The message from our vets work so far has been loud and clear – many pet owners and professionals have concerns that need further investigation,"" said Sarah Cardell, the CMA\'s chief executive. “', 'We’ve heard from people who are struggling to pay vet bills, potentially overpaying for medicines and don’t always know the best treatment options available to them,"" she said.', 'The CMA said local vet services are worth £2bn-£2.5bn a year, but when other aspects such as cremation, specialist treatments and medicines are taken into account, the overall value of the industry is estimated at £5.7bn a year.', 'The competition body highlighted how the sector was increasingly being dominated by larger firms and how this might be reducing consumer choice There are about 5,000 vet practices in the UK, it said, but since 2013, approximately 1,500 of these have been acquired by six large corporate groups.', 'They are CVS, Independent Vetcare Ltd, Linnaeus, Medivet, Pets at Home and VetPartners.', 'Four of these six tend to retain the name and branding of an independently-owned practice when they buy it, which the CMA said may create an ""illusion of competition"" for consumers if they are trying to shop around to find alternative practices.', 'The watchdog said the inquiry would look at: It said possible remedies could include forcing firms to provide certain information to consumers, imposing maximum prescription fees, and ordering the sale or break-up of businesses.', 'Malcolm Morley, the British Veterinary Association\'s (BVA) senior vice president, told the BBC\'s Today programme that the trade body was ""very keen"" on the inquiry and it had been working closely with CMA in recent months. ""', 'Some of the points the CMA raises are things that we’ve been raising for a long time,"" he said. ""', 'The regulation of vets and veterinary practices is woefully out of date, not fit for purpose.""', 'Mr Morley added that the area of buying treatments online also needed looking at.', 'He said many independent vet practices were forced to buy medicines from wholesalers at prices that were higher than those consumers face when they buy from an online pharmacy.', 'Gemma Attenborrow, a dog owner from Birmingham, told the BBC she spent almost £10,000 on spinal surgery for her French bulldog Bali.', 'She said she felt she was charged an ""extreme amount"" for average service.', 'Ms Attenborrow said pet owners may be too scared to go the vets because of large bills and that it\'s ""unfair"" for the animals as well as owners.', 'The CMA also, however, heard from vets who said they sometimes faced abuse from pet owners over what they considered to be high fees.', 'While they acknowledged that fees have risen, they also said interactions with pet owners were also influenced by factors such as: BVA president Dr Anna Judson said: ""Since the CMA first announced their review, vet teams in practice have found themselves on the end of really unpleasant, often abusive behaviour. ""', 'This is unacceptable and we urge everyone to remember that vets are people and are often not responsible for the pricing structures within a practice.""']",-0.0061824499059997,Earlier this year it flagged concerns that pet owners might not be getting basic information like price lists online and were not always informed of the cost of treatment at a vets before agreeing to it.,"While they acknowledged that fees have risen, they also said interactions with pet owners were also influenced by factors such as: BVA president Dr Anna Judson said: ""Since the CMA first announced their review, vet teams in practice have found themselves on the end of really unpleasant, often abusive behaviour. """,-0.4239840855201085,"It said the Office for National Statistics has estimated that the cost of veterinary and other pet services has increased by around 50% since 2015, much higher than the overall rate of inflation.","The British Veterinary Association said regulation of the sector was ""woefully out of date"" as it welcomed the review.",2024-05-23
+UK inflation rate falls to lowest in almost three years,https://www.bbc.co.uk/news/articles/c511m7jgyl3o,2024-05-22T06:05:12.397Z,"Falling gas and electricity prices have driven UK inflation to its lowest level in almost three years. Prices rose at 2.3% in the year to April, down from 3.2% the month before, official figures show. While inflation, which measures the rate of price increases over time, has fallen further, it remains higher than the Bank of England's target of 2% and was slightly higher than experts expected. But the Bank has hinted that interest rates, which have been raised in recent years to slow price rises, could be cut this summer. Rates are currently at 5.25% - the highest level in 16 years. Falling inflation does not mean the prices of goods and services overall are coming down, it is just that they are rising at a slower pace. Lower gas and electricity prices were the main driver behind the sharp inflation drop last month as a lower price cap - which fixes the maximum price that can be charged for each unit of energy - kicked in. Energy prices were 27% lower in April compared to 12 months before, with gas prices alone down 38%. Easing tobacco and food price rises also contributed to the inflation fall, but costs for mobile phone bills and rents continued to rise. Sarah Coles, head of personal finance at Hargreaves Lansdown said for the average household, energy prices were still relatively high. ""It’s still a huge increase on the levels we saw before the invasion of Ukraine - when the cheapest deals cost around half this amount - but it’s a real shot in the arm for anyone trying to make ends meet,"" she added. Some foods, such as milk, butter, poultry and fish were cheaper in April than they were a year earlier, due to falling fertiliser prices and tougher negotiations from supermarkets on own-brand items, Ms Coles explained. But she said olive oil, cocoa and crisps were up because of disappointing harvests and high demand. Prime Minister Rishi Sunak said the figures marked a ""major moment for the economy, with inflation back to normal"". “Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone,"" he added. But Labour's shadow chancellor Rachel Reeves said now was ""not the time for Conservative ministers to be popping champagne corks and taking a victory lap"". Prices for all goods - ranging from food to household appliances - decreased marginally by 0.8% in April compared to this time last year. But services inflation, which measures price rises for things such as haircuts or train tickets, remained elevated at 5.9%. Soaring energy costs have been the main cause of the high cost of living in recent years, putting households and business under financial pressure.  Global as and oil prices soared following Russia's invasion of Ukraine in February 2022. In the UK, the impact of the commodity price hikes saw inflation rise to 11% in October 2022 - its highest rate in 40 years. Butcher Gary Wildman, owner of John Wildman & Sons in Rustington, West Sussex, told the BBC his business costs had gone up but the prices of his products had levelled off. “Prices are probably 10 to 15% more than they were at the beginning of Covid but they are level now definitely,"" he added. “You can’t pass all the cost onto the customers otherwise the customers won’t come in but because the prices of stuff is a bit higher the profit stays pretty much the same.” The Bank of England said earlier this month that it expected inflation to fall ""close"" to its target level soon. But it warned it wanted to see ""more evidence"" before deciding to cut rates, which means August or September appear to be the most likely timing for a first cut, if inflation continues to fall as expected. The interest rate set by the Bank dictates the rates set by High Street banks and money lenders. Higher rates mean people pay more to borrow money for things such as mortgages and loans, but savers also receive better returns. ""It feels like this should be a healthy dose of good news, but anyone with a mortgage will be sickened to hear it’s not as good as it seems,"" said Mr Coles. Rob Wood, chief UK economist at research consultancy Pantheon Macroeconomics, added that an August interest rate cut ""looks much more likely than a June reduction after services inflation shockingly barely fell in April"". Danni Hewson, head of financial analysis at AJ Bell, agreed, adding that the ""expectation of a June rate cut has been washed away like confetti after rain-soaked summer wedding"". She said financial markets expectations of a rate cut next month had ""plummeted from 50/50 to just over 10%"". Sarah Osborn has shared three tips to keep on top of energy use during the warmer months: Read more here if you are struggling to pay energy bills ",BBC,22/05/2024,"['Falling gas and electricity prices have driven UK inflation to its lowest level in almost three years.', 'Prices rose at 2.3% in the year to April, down from 3.2% the month before, official figures show.', ""While inflation, which measures the rate of price increases over time, has fallen further, it remains higher than the Bank of England's target of 2% and was slightly higher than experts expected."", 'But the Bank has hinted that interest rates, which have been raised in recent years to slow price rises, could be cut this summer.', 'Rates are currently at 5.25% - the highest level in 16 years.', 'Falling inflation does not mean the prices of goods and services overall are coming down, it is just that they are rising at a slower pace.', 'Lower gas and electricity prices were the main driver behind the sharp inflation drop last month as a lower price cap - which fixes the maximum price that can be charged for each unit of energy - kicked in.', 'Energy prices were 27% lower in April compared to 12 months before, with gas prices alone down 38%.', 'Easing tobacco and food price rises also contributed to the inflation fall, but costs for mobile phone bills and rents continued to rise.', 'Sarah Coles, head of personal finance at Hargreaves Lansdown said for the average household, energy prices were still relatively high. ""', 'It’s still a huge increase on the levels we saw before the invasion of Ukraine - when the cheapest deals cost around half this amount - but it’s a real shot in the arm for anyone trying to make ends meet,"" she added.', 'Some foods, such as milk, butter, poultry and fish were cheaper in April than they were a year earlier, due to falling fertiliser prices and tougher negotiations from supermarkets on own-brand items, Ms Coles explained.', 'But she said olive oil, cocoa and crisps were up because of disappointing harvests and high demand.', 'Prime Minister Rishi Sunak said the figures marked a ""major moment for the economy, with inflation back to normal"". “', 'Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone,"" he added.', 'But Labour\'s shadow chancellor Rachel Reeves said now was ""not the time for Conservative ministers to be popping champagne corks and taking a victory lap"".', 'Prices for all goods - ranging from food to household appliances - decreased marginally by 0.8% in April compared to this time last year.', 'But services inflation, which measures price rises for things such as haircuts or train tickets, remained elevated at 5.9%.', 'Soaring energy costs have been the main cause of the high cost of living in recent years, putting households and business under financial pressure.', ""Global as and oil prices soared following Russia's invasion of Ukraine in February 2022."", 'In the UK, the impact of the commodity price hikes saw inflation rise to 11% in October 2022 - its highest rate in 40 years.', 'Butcher Gary Wildman, owner of John Wildman & Sons in Rustington, West Sussex, told the BBC his business costs had gone up but the prices of his products had levelled off. “', 'Prices are probably 10 to 15% more than they were at the beginning of Covid but they are level now definitely,"" he added. “', 'You can’t pass all the cost onto the customers otherwise the customers won’t come in but because the prices of stuff is a bit higher the profit stays pretty much the same.”', 'The Bank of England said earlier this month that it expected inflation to fall ""close"" to its target level soon.', 'But it warned it wanted to see ""more evidence"" before deciding to cut rates, which means August or September appear to be the most likely timing for a first cut, if inflation continues to fall as expected.', 'The interest rate set by the Bank dictates the rates set by High Street banks and money lenders.', 'Higher rates mean people pay more to borrow money for things such as mortgages and loans, but savers also receive better returns. ""', 'It feels like this should be a healthy dose of good news, but anyone with a mortgage will be sickened to hear it’s not as good as it seems,"" said Mr Coles.', 'Rob Wood, chief UK economist at research consultancy Pantheon Macroeconomics, added that an August interest rate cut ""looks much more likely than a June reduction after services inflation shockingly barely fell in April"".', 'Danni Hewson, head of financial analysis at AJ Bell, agreed, adding that the ""expectation of a June rate cut has been washed away like confetti after rain-soaked summer wedding"".', 'She said financial markets expectations of a rate cut next month had ""plummeted from 50/50 to just over 10%"".', 'Sarah Osborn has shared three tips to keep on top of energy use during the warmer months: Read more here if you are struggling to pay energy bills']",0.0285296880744749,"Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone,"" he added.","But it warned it wanted to see ""more evidence"" before deciding to cut rates, which means August or September appear to be the most likely timing for a first cut, if inflation continues to fall as expected.",0.4702666657311575,"But she said olive oil, cocoa and crisps were up because of disappointing harvests and high demand.","While inflation, which measures the rate of price increases over time, has fallen further, it remains higher than the Bank of England's target of 2% and was slightly higher than experts expected.",2024-05-23
+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.",2024-05-23
+Dow falls by more than 600 points as markets continue to fret about a rate cut,https://edition.cnn.com/2024/05/23/investing/dow-falls-waiting-fed-rate-cut/index.html,"
+  Published
+        2:19 PM EDT, Thu May 23, 2024
+    ","The Dow tumbled by more than 600 points Thursday afternoon as all three major indexes moved lower, even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split.
+    
+            Chipmaker Nvidia (NVDA) soared more than 8% as the wider market dropped lower, highlighting a lack of market breadth.
+    
+            Boeing (BA) weighed on markets on Thursday, dropping more than 7% after the beleaguered aircraft manufacturer said its cash flows were worse than expected this year. That caused concern amongst investors that its debt ratings could be classified as junk bonds.
+    
+            The S&P 500 and Nasdaq Composite, which began the day at new intraday highs, fell by 0.9% and 0.7%, respectively.
+    
+            The selloff came after the Purchasing Managers Index for May, expected to fall slightly, came in 3.5 percentage points higher, the highest level since last June. That’s an indication that the economy is not being held back by inflation, even though price hikes have started to ease once more.
+    
+            “Tech is the only industry sector not in the red,” wrote Louis Navellier of Navellier Investing in a note to clients on Thursday. “If you don’t have NVIDIA in your index it’s not a good day.”
+    
+            Labor data also came in stronger than expected on Thursday morning: Weekly initial jobless claims totaled 215,000, slightly below the analyst consensus of 220,000, according to FactSet data.
+    
+            April new home sales missed estimates on Thursday, coming in at an annualized rate of 634,000 versus 678,000 expected. Fewer homes being built indicates that there’s less economic confidence on the part of builders and that they’re having more difficulty borrowing the money to build them.
+    
+            The Federal Reserve spooked markets on Wednesday afternoon when they released the notes from their last policy meeting.
+    
+            The minutes showed that “various” officials said they would be willing to raise interest rates if necessary and that there were doubts as to whether financial conditions are restrictive enough to keep inflation from resurging.
+    
+            Goldman Sachs CEO David Solomon also said Wednesday at an event hosted by Boston College that the Fed probably won’t begin to cut rates this year.
+    
+            “I’m still at zero cuts,” he said. “I think we’re set up for stickier inflation.”
+    
+            “The bond market set the dour mood that we see across much of the market,” wrote Interactive Brokers chief strategist Steve Sosnick on Thursday.
+    
+            US Treasury yields rose Thursday on the positive economic news.
+    
+            “Coming on the back of yesterday’s ‘higher for longer’ Fed Minutes, bond traders were in no mood to hear about a strengthening economy,” wrote Sosnick. “In theory, a stronger economy should be good for companies, and thus stocks, but because we are all so obsessed with the Federal Reserve and other central bank policymakers, we see most stocks trending lower as bond prices fall.”
+    
+            Those central bank worries have pushed investors to slash their expectations for interest rate cuts from the Fed. They’re now anticipating just one cut this year, in December, according to the CME FedWatch tool. That’s down from six at the beginning of the year.
+    
+            This is a developing story and will be updated.",CNN,23/05/2024,"['The Dow tumbled by more than 600 points Thursday afternoon as all three major indexes moved lower, even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split.', 'Chipmaker Nvidia (NVDA) soared more than 8%as the wider market dropped lower, highlighting a lack of market breadth.', 'Boeing (BA) weighed on markets on Thursday, dropping more than 7% after the beleaguered aircraft manufacturer said its cash flows were worse than expected this year.', 'That caused concern amongst investors that its debt ratings could be classified as junk bonds.', 'The S&P 500 and Nasdaq Composite, which began the day at new intraday highs, fell by 0.9% and 0.7%, respectively.', 'The selloff came after the Purchasing Managers Index for May, expected to fall slightly, came in 3.5 percentage points higher, the highest level since last June.', 'That’s an indication that the economy is not being held back by inflation, even though price hikes have started to ease once more.', '“Tech is the only industry sector not in the red,” wrote Louis Navellier of Navellier Investing in a note to clients on Thursday. “', 'If you don’t have NVIDIA in your index it’s not a good day.”', 'Labor data also came in stronger than expected on Thursday morning: Weekly initial jobless claims totaled 215,000, slightly below the analyst consensus of 220,000, according to FactSet data.', 'April new home sales missed estimates on Thursday, coming in at an annualized rate of 634,000 versus 678,000 expected.', 'Fewer homes being built indicates that there’s less economic confidence on the part of builders and that they’re having more difficulty borrowing the money to build them.', 'The Federal Reserve spooked markets on Wednesday afternoon when they released the notes from their last policy meeting.', 'The minutes showed that “various” officials said they would be willing to raise interest rates if necessary and that there were doubts as to whether financial conditions are restrictive enough to keep inflation from resurging.', 'Goldman Sachs CEO David Solomon also said Wednesday at an event hosted by Boston College that the Fed probably won’t begin to cut rates this year.', '“I’m still at zero cuts,” he said. “', 'I think we’re set up for stickier inflation.”', '“The bond market set the dour mood that we see across much of the market,” wrote Interactive Brokers chief strategist Steve Sosnick on Thursday.', 'US Treasury yields rose Thursday on the positive economic news.', '“Coming on the back of yesterday’s ‘higher for longer’ Fed Minutes, bond traders were in no mood to hear about a strengthening economy,” wrote Sosnick. “', 'In theory, a stronger economy should be good for companies, and thus stocks, but because we are all so obsessed with the Federal Reserve and other central bank policymakers, we see most stocks trending lower as bond prices fall.”', 'Those central bank worries have pushed investors to slash their expectations for interest rate cuts from the Fed.', 'They’re now anticipating just one cut this year, in December, according to the CME FedWatch tool.', 'That’s down from six at the beginning of the year.', 'This is a developing story and will be updated.']",-0.0471066630779464,US Treasury yields rose Thursday on the positive economic news.,"Chipmaker Nvidia (NVDA) soared more than 8%as the wider market dropped lower, highlighting a lack of market breadth.",-0.5421132577790154,US Treasury yields rose Thursday on the positive economic news.,"Boeing (BA) weighed on markets on Thursday, dropping more than 7% after the beleaguered aircraft manufacturer said its cash flows were worse than expected this year.",2024-05-23
+"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.",2024-05-23
+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.",,2024-05-23
+Fed officials aren’t easing Wall Street’s nerves,https://edition.cnn.com/2024/05/22/economy/fed-minutes-wall-street-inflation/index.html,"
+  Updated
+        5:36 PM EDT, Wed May 22, 2024
+    ","Earlier this week, some officials at the Federal Reserve said they’re no longer worried about inflation reaccelerating, after data showed that progress stalled in the first quarter. Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again.
+    
+            That’s because minutes from the central bank’s latest policy meeting released Wednesday showed that “various” officials said they would be willing to raise interest rates if necessary and that there were doubts as to whether financial conditions are restrictive enough to keep inflation from resurging.
+    
+            It spooked investors: The Dow slid more than 300 points following the release of the minutes.
+    
+            Moreover, the Fed minutes seemed to outweigh comments from Fed Governor Christopher Waller, a key messenger of monetary policy moves, who told CNBC in an interview Tuesday that the Fed could cut rates by the “end of the year.” In a separate speech earlier that day, he said “the data suggests that inflation isn’t accelerating.”
+    
+            “More recent data on the economy indicate that restrictive monetary policy is helping to cool off aggregate demand and the inflation data for April suggests that progress toward 2% has likely resumed,” Waller said at an event hosted by the Peterson Institute for International Economics.
+    
+            He pointed to recent figures on employment and retail spending coming in weaker than expected, both of which should help take some steam out of inflation.
+    
+            But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. Goldman Sachs CEO David Solomon said Wednesday at an event hosted by Boston College that the Fed probably won’t begin to cut rates this year.
+    
+            “I’m still at zero cuts,” he said. “I think we’re set up for stickier inflation.”
+    
+            Fed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. The inflation report was mostly in line with expectations, which was an improvement from the disappointing figures for the first three months of the year.
+    
+            “It’s important not to focus too much on just one data point,” said Fed Vice Chair Philip Jefferson at an event hosted by the Mortgage Bankers Association on Monday. However, he noted that the April CPI data was nonetheless “a good sign for us.”
+    
+            San Francisco Fed President Mary Daly told Axios in an interview that published Monday that she doesn’t “see any evidence right now that we need to adjust upwards.”
+    
+            Fed Chair Jerome Powell said earlier this month that it may just be a matter of giving high interest rates some time to kick in.
+    
+            “What that has told us is that we’ll need to be patient and let restrictive policy do its work,” he said during a moderated discussion with European Central Bank Governing Council member Klaas Knot.
+    
+            Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation. But despite the hopeful Fedspeak on inflation, there is still an uneasiness in the air about what’s really happening and what the central bank will do.
+    
+            “For now, the Fed says it wants to see more evidence that inflation is easing, which implies higher-for-longer rates until that data materializes,” wrote Chris Larkin, managing director of trading and investing for E*TRADE in a note Wednesday.
+    
+            “Traders will have to wait until next week’s PCE price index to get another read on inflation and update their expectations for rate cuts,” he said.
+    
+            The April Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, is due next Friday at 8:30 am ET, along with data on household incomes and spending.",CNN,22/05/2024,"['Earlier this week, some officials at the Federal Reserve said they’re no longer worried about inflation reaccelerating, after data showed that progress stalled in the first quarter.', 'Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs.', 'But now Wall Street, eager for rate cuts, is on edge again.', 'That’s because minutes from the central bank’s latest policy meeting released Wednesday showed that “various” officials said they would be willing to raise interest rates if necessary and that there were doubts as to whether financial conditions are restrictive enough to keep inflation from resurging.', 'It spooked investors: The Dow slid more than 300 points following the release of the minutes.', 'Moreover, the Fed minutes seemed to outweigh comments from Fed Governor Christopher Waller, a key messenger of monetary policy moves, who told CNBC in an interview Tuesday that the Fed could cut rates by the “end of the year.”', 'In a separate speech earlier that day, he said “the data suggests that inflation isn’t accelerating.”', '“More recent data on the economy indicate that restrictive monetary policy is helping to cool off aggregate demand and the inflation data for April suggests that progress toward 2% has likely resumed,” Waller said at an event hosted by the Peterson Institute for International Economics.', 'He pointed to recent figures on employment and retail spending coming in weaker than expected, both of which should help take some steam out of inflation.', 'But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon.', 'Goldman Sachs CEO David Solomon said Wednesday at an event hosted by Boston College that the Fed probably won’t begin to cut rates this year.', '“I’m still at zero cuts,” he said. “', 'I think we’re set up for stickier inflation.”', 'Fed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news.', 'The inflation report was mostly in line with expectations, which was an improvement from the disappointing figures for the first three months of the year.', '“It’s important not to focus too much on just one data point,” said Fed Vice Chair Philip Jefferson at an event hosted by the Mortgage Bankers Association on Monday.', 'However, he noted that the April CPI data was nonetheless “a good sign for us.”', 'San Francisco Fed President Mary Daly told Axios in an interview that published Monday that she doesn’t “see any evidence right now that we need to adjust upwards.”', 'Fed Chair Jerome Powell said earlier this month that it may just be a matter of giving high interest rates some time to kick in.', '“What that has told us is that we’ll need to be patient and let restrictive policy do its work,” he said during a moderated discussion with European Central Bank Governing Council member Klaas Knot.', 'Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.', 'But despite the hopeful Fedspeak on inflation, there is still an uneasiness in the air about what’s really happening and what the central bank will do.', '“For now, the Fed says it wants to see more evidence that inflation is easing, which implies higher-for-longer rates until that data materializes,” wrote Chris Larkin, managing director of trading and investing for E*TRADE in a note Wednesday.', '“Traders will have to wait until next week’s PCE price index to get another read on inflation and update their expectations for rate cuts,” he said.', 'The April Personal Consumption Expenditures price index, the Fed’s preferred inflation gauge, is due next Friday at 8:30 am ET, along with data on household incomes and spending.']",0.0776266220603488,"“More recent data on the economy indicate that restrictive monetary policy is helping to cool off aggregate demand and the inflation data for April suggests that progress toward 2% has likely resumed,” Waller said at an event hosted by the Peterson Institute for International Economics.","But despite the hopeful Fedspeak on inflation, there is still an uneasiness in the air about what’s really happening and what the central bank will do.",0.2231529131531715,Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs.,It spooked investors: The Dow slid more than 300 points following the release of the minutes.,2024-05-23
+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.,2024-05-23
+China launches its own anti-dumping probe following Biden’s monster tariffs,https://edition.cnn.com/2024/05/20/business/china-anti-dumping-us-eu-intl-hnk/index.html,"
+  Published
+        1:45 AM EDT, Mon May 20, 2024
+    ","China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become increasingly fraught.
+    
+            On Sunday, China’s Ministry of Commerce said it was launching an anti-dumping probe into polyoxymethylene or POM copolymers, a thermoplastic used in various industries ranging from auto parts to electronics, imported from the US, the European Union, Taiwan and Japan.
+    
+            Thermoplastics are malleable when heated but become fixed in a solid shape when cooled, and can partially replace metals such as copper and zinc.
+    
+            The investigation should take a year to complete, but may be extended by another six months, the ministry added.
+    
+            The announcement comes days after President Joe Biden said that tariffs on $18 billion worth of imports of Chinese electric vehicles (EVs) and an array of other products would soar over the next two years.
+    
+            EVs imported from China will see their tariffs nearly quadruple from 27.5% to 100%, a policy lever meant to challenge Beijing’s practice of encouraging aggressively low pricing by domestic EV manufacturers while levying a 40% tariff on US car imports.
+    
+            The White House said the measures were designed to protect American workers and businesses in the face of China’s unfair trade practices, including “flooding global markets with artificially low-priced exports.”
+    
+            In response, China has vowed to take “all necessary actions to protect its legitimate rights.”
+    
+            The EU is also investigating state support for Chinese EV makers and, if it finds that their prices are artificially low, it will announce extra import duties by early July.",CNN,20/05/2024,"['China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become increasingly fraught.', 'On Sunday, China’s Ministry of Commerce said it was launching an anti-dumping probe into polyoxymethylene or POM copolymers, a thermoplastic used in various industries ranging from auto parts to electronics, imported from the US, the European Union, Taiwan and Japan.', 'Thermoplastics are malleable when heated but become fixed in a solid shape when cooled, and can partially replace metals such as copper and zinc.', 'The investigation should take a year to complete, but may be extended by another six months, the ministry added.', 'The announcement comes days after President Joe Biden said that tariffs on $18 billion worth of imports of Chinese electric vehicles (EVs) and an array of other products would soar over the next two years.', 'EVs imported from China will see their tariffs nearly quadruple from 27.5% to 100%, a policy lever meant to challenge Beijing’s practice of encouraging aggressively low pricing by domestic EV manufacturers while levying a 40% tariff on US car imports.', 'The White House said the measures were designed to protect American workers and businesses in the face of China’s unfair trade practices, including “flooding global markets with artificially low-priced exports.”', 'In response, China has vowed to take “all necessary actions to protect its legitimate rights.”', 'The EU is also investigating state support for Chinese EV makers and, if it finds that their prices are artificially low, it will announce extra import duties by early July.']",0.0540893893600919,"In response, China has vowed to take “all necessary actions to protect its legitimate rights.”","On Sunday, China’s Ministry of Commerce said it was launching an anti-dumping probe into polyoxymethylene or POM copolymers, a thermoplastic used in various industries ranging from auto parts to electronics, imported from the US, the European Union, Taiwan and Japan.",-0.5051757097244263,"EVs imported from China will see their tariffs nearly quadruple from 27.5% to 100%, a policy lever meant to challenge Beijing’s practice of encouraging aggressively low pricing by domestic EV manufacturers while levying a 40% tariff on US car imports.",The announcement comes days after President Joe Biden said that tariffs on $18 billion worth of imports of Chinese electric vehicles (EVs) and an array of other products would soar over the next two years.,2024-05-23
+HSBC fined over treatment of customers in financial difficulty,https://www.bbc.co.uk/news/articles/cv225xw8y08o,2024-05-23T11:43:20.865Z,"HSBC has been fined £6.2m by the City watchdog after it found the bank failed to help customers in financial difficulties. The Financial Conduct Authority (FCA) said the lender failed to consider customers' circumstances when they missed a repayment or sometimes ""took disproportionate action"". The FCA said the bank put ""1.5 million people at risk of greater financial harm"" through its actions. HSBC told the BBC ""We have invested in our processes since these matters came to light and are pleased to have resolved these historic issues with the regulator.” The FCA said that HSBC - which also provides financial services for M&S Bank - did not consider customers' circumstances when it came to missed payments between June 2017 and October 2018.  Affordability assessments were not always made when people were trying to reduce or clear their arrears, meaning some customers ending up facing more money troubles. These assessments are supposed to make sure a person can afford to take on any extra payments. The watchdog also said HSBC sometimes ""took disproportionate action when people fell behind with payments, which risked people getting into greater financial difficulty"". It said the bank's policies and procedures didn't go far enough to stop failings while there were deficiencies in the training of staff. “People must be able to trust their lenders to treat them fairly when in financial difficulty,"" said Therese Chambers, the FCA's joint executive director of enforcement and market oversight. ""By failing to do so, HSBC put 1.5 million people at risk of greater financial harm."" HSBC itself told the FCA about issues with handling customers facing financial difficulty in 2018. It said it had invested £94m in trying to identify and resolve the problem and made redress payments totalling £185m to more than 1.5 million customers.  The bank could have faced a steeper fine by the FCA of £8.9m. But the watchdog said it took HSBC's remediation and redress programme into account as well as an agreement to settle the case.  ",BBC,23/05/2024,"['HSBC has been fined £6.2m by the City watchdog after it found the bank failed to help customers in financial difficulties.', 'The Financial Conduct Authority (FCA) said the lender failed to consider customers\' circumstances when they missed a repayment or sometimes ""took disproportionate action"".', 'The FCA said the bank put ""1.5 million people at risk of greater financial harm"" through its actions.', 'HSBC told the BBC ""We have invested in our processes since these matters came to light and are pleased to have resolved these historic issues with the regulator.”', ""The FCA said that HSBC - which also provides financial services for M&S Bank - did not consider customers' circumstances when it came to missed payments between June 2017 and October 2018."", 'Affordability assessments were not always made when people were trying to reduce or clear their arrears, meaning some customers ending up facing more money troubles.', 'These assessments are supposed to make sure a person can afford to take on any extra payments.', 'The watchdog also said HSBC sometimes ""took disproportionate action when people fell behind with payments, which risked people getting into greater financial difficulty"".', ""It said the bank's policies and procedures didn't go far enough to stop failings while there were deficiencies in the training of staff. “"", 'People must be able to trust their lenders to treat them fairly when in financial difficulty,"" said Therese Chambers, the FCA\'s joint executive director of enforcement and market oversight. ""', 'By failing to do so, HSBC put 1.5 million people at risk of greater financial harm.""', 'HSBC itself told the FCA about issues with handling customers facing financial difficulty in 2018.', 'It said it had invested £94m in trying to identify and resolve the problem and made redress payments totalling £185m to more than 1.5 million customers.', ""The bank could have faced a steeper fine by the FCA of £8.9m. But the watchdog said it took HSBC's remediation and redress programme into account as well as an agreement to settle the case.""]",-0.1231763562176159,The bank could have faced a steeper fine by the FCA of £8.9m. But the watchdog said it took HSBC's remediation and redress programme into account as well as an agreement to settle the case.,"By failing to do so, HSBC put 1.5 million people at risk of greater financial harm.""",-0.6048650145530701,"HSBC told the BBC ""We have invested in our processes since these matters came to light and are pleased to have resolved these historic issues with the regulator.”","By failing to do so, HSBC put 1.5 million people at risk of greater financial harm.""",2024-05-23
+Kellogg's Chocolate Corn Flakes recall over choking risk,https://www.bbc.co.uk/news/articles/ckvvn5xvdw1o,2024-05-23T16:09:01.449Z,"Kellogg's is recalling boxes of its chocolate cornflakes following complaints of hard lumps in the cereal which could create a choking hazard. The breakfast brand voluntarily asked consumers who had bought packs to dispose of them ""as a precaution"" after the issue was discovered. Kellanova, the company which manufactures the cereal, said the hard lumps ""do not break down when eaten with milk"" and could also potentially damage teeth. The Food Standards Agency said this made the product ""unsafe to eat"". Kellanova stressed that it believed only a ""small proportion"" of boxes could contain the lumps and that there was ""minimal risk"" to consumers. It said that the affected packs had been on sale since January - when the chocolate version was first launched - in Tesco, Londis, Budgens and Booker stores. A spokesperson for Kellanova said: ""Clusters of cereal forming during production can be a normal occurrence and these usually break up when eaten or placed in milk. ""But, when we spotted that hard lumps of cereal were forming in a very small amount of our new Kellogg’s Corn Flakes Chocolate Flavour cereal, we took the decision to recall all product. ""It’s important to say that the risk of injury from these hard lumps of chocolate cereal is minimal but we’re not willing to compromise on quality or safety."" Consumers who own have bought 450g boxes with best before dates ranging from 6 December 2024 to 28 April 2025 have been urged to throw them away and contact the brand for a full refund. Kellanova said that other Kellogg's Corn Flakes varieties it produces were unaffected by the issue. ",BBC,23/05/2024,"[""Kellogg's is recalling boxes of its chocolate cornflakes following complaints of hard lumps in the cereal which could create a choking hazard."", 'The breakfast brand voluntarily asked consumers who had bought packs to dispose of them ""as a precaution"" after the issue was discovered.', 'Kellanova, the company which manufactures the cereal, said the hard lumps ""do not break down when eaten with milk"" and could also potentially damage teeth.', 'The Food Standards Agency said this made the product ""unsafe to eat"".', 'Kellanova stressed that it believed only a ""small proportion"" of boxes could contain the lumps and that there was ""minimal risk"" to consumers.', 'It said that the affected packs had been on sale since January - when the chocolate version was first launched - in Tesco, Londis, Budgens and Booker stores.', 'A spokesperson for Kellanova said: ""Clusters of cereal forming during production can be a normal occurrence and these usually break up when eaten or placed in milk. ""', 'But, when we spotted that hard lumps of cereal were forming in a very small amount of our new Kellogg’s Corn Flakes Chocolate Flavour cereal, we took the decision to recall all product. ""', 'It’s important to say that the risk of injury from these hard lumps of chocolate cereal is minimal but we’re not willing to compromise on quality or safety.""', 'Consumers who own have bought 450g boxes with best before dates ranging from 6 December 2024 to 28 April 2025 have been urged to throw them away and contact the brand for a full refund.', ""Kellanova said that other Kellogg's Corn Flakes varieties it produces were unaffected by the issue.""]",-0.082127473604459,Consumers who own have bought 450g boxes with best before dates ranging from 6 December 2024 to 28 April 2025 have been urged to throw them away and contact the brand for a full refund.,Kellogg's is recalling boxes of its chocolate cornflakes following complaints of hard lumps in the cereal which could create a choking hazard.,-0.9718283216158548,,"The Food Standards Agency said this made the product ""unsafe to eat"".",2024-05-23
+Post Office: Paula Vennells admits giving incorrect evidence,https://www.bbc.co.uk/news/articles/cq550449zwyo,2024-05-22T10:30:07.149Z,"Former Post Office boss Paula Vennells has admitted that evidence she gave to MPs looking into problems with the Horizon IT system in 2012 was not true. Speaking publicly for the first time in almost ten years, Ms Vennells broke down as she was questioned over the scandal, saying her previous assertion that there had been no failed Horizon prosecutions was not correct. In the most anticipated appearance of the long-running Post Office scandal inquiry, Ms Vennells was questioned in a packed inquiry room with sub-postmasters and post-mistresses coming to watch her give evidence. Asked by inquiry lead counsel Jason Beer about evidence she gave to MPs in June 2012, in which she told them that every Horizon case brought against sub-postmasters had been successful, Mr Beer listed a number of cases that had not been. ""I fully accept now, that the Post Office - excuse me,"" said Ms Vennells as she paused and began crying. ""The Post Office knew that,"" she said. ""I completely accept it. Personally, I didn't know that, and I'm incredibly sorry that it happened to those people and to so many others."" Throughout the day Ms Vennells repeatedly apologised, and she broke down in tears four times. However, some who were present in the room had expressions of disbelief, some shook their heads, and some laughed at points made by lead counsel Mr Beer. Between 1999 and 2015, more than 900 people who ran post offices were prosecuted after Horizon, a faulty computer system, made it look like money was missing from their branches. Some sub-postmasters were sent to prison and many suffered financial hardship. Some have since died. Ms Vennells was chief executive of the Post Office from 2012 to 2019, a period of time when sub-postmasters were still being prosecuted, but the organisation continued to deny faults with the Horizon IT software was to blame for shortfalls in accounts. This was despite mounting evidence of wrongful convictions. Ushered into Aldwych House among crowds, cameras and photographers, she began to be questioned and key lines emerged:  Former sub-postmistress Jo Hamilton told the BBC that Ms Vennells had been on a ""charm offensive"" and that she didn't believe that she had not been aware of Horizon faults earlier than she admitted. Seema Misra, who was eight weeks pregnant with her second child when she was wrongly convicted of false accounting and theft and jailed, told the BBC that Ms Vennells denials of knowledge were part of a ""cover-up"". There was anger too, from some former sub-postmasters. Harjinder Butoy, who was wrongfully convicted of stealing £208,000 and served an 18-month prison term, said he was struggling to believe ""anything that comes out of her mouth"" and he didn't believe her tears were genuine. The inquiry was also shown text messages from January this year which revealed former Royal Mail boss Moya Greene said she believed Ms Vennells knew about Horizon faults earlier than she had admitted. The text message exchange followed the screening of an ITV drama that thrust the scandal back into the spotlight. Dame Greene wrote: ""When it was clear the system was at fault, the [Post Office] should have raised a red flag, stopped all proceedings, given people back their money and then tried to compensate them for the ruin this caused in their lives."" Ms Vennells replied: ""Yes, I agree. This has/is taking too long Moya. The toll on everyone affected is dreadful. I hope you had good break and are well. BW Paula.” Dame Greene then wrote: ""I don’t know what to say. I think you knew."" Ms Vennells then said: ""No Moya, that isn’t the case."" Mr Beer asked Ms Vennells: ""How could you not know?"" Ms Vennells said: ""This is a situation that is so complex, it is a question I have asked myself as well. ""I have learned some things that I did not know as a result of the inquiry and I imagine that we will go through some of the detail of that. I wish I had known."" As she apologised to sub-postmasters, campaigners, and to the inquiry itself, people, some of whom were sub-postmasters, remained silent, with a few shaking their heads. She said she was ""very affected"" by the human impact statements given by those affected by the scandal. Ms Vennells also apologised to campaigner Alan Bates, to forensic accountants Second Sight who were sacked by the Post Office after finding bugs in Horizon, and to Lord Arbuthnot, who has also campaigned on the behalf of sub-postmasters. Mr Beer asked the former Post Office boss if she thought she had been the ""unluckiest"" chief executive in the UK given that, according to her witness statements, she wasn't given information about Horizon, didn't see certain documents, and had been given assurances about the IT system by Post Office staff. ""I was given much information, and as the inquiry has heard, there was information that I wasn't given, and others didn't receive,"" she said. She added that she had been ""too trusting"" and that she was ""disappointed"" where information hadn't been shared. ",BBC,22/05/2024,"['Former Post Office boss Paula Vennells has admitted that evidence she gave to MPs looking into problems with the Horizon IT system in 2012 was not true.', 'Speaking publicly for the first time in almost ten years, Ms Vennells broke down as she was questioned over the scandal, saying her previous assertion that there had been no failed Horizon prosecutions was not correct.', 'In the most anticipated appearance of the long-running Post Office scandal inquiry, Ms Vennells was questioned in a packed inquiry room with sub-postmasters and post-mistresses coming to watch her give evidence.', 'Asked by inquiry lead counsel Jason Beer about evidence she gave to MPs in June 2012, in which she told them that every Horizon case brought against sub-postmasters had been successful, Mr Beer listed a number of cases that had not been. ""', 'I fully accept now, that the Post Office - excuse me,"" said Ms Vennells as she paused and began crying. ""', 'The Post Office knew that,"" she said. ""', 'I completely accept it.', 'Personally, I didn\'t know that, and I\'m incredibly sorry that it happened to those people and to so many others.""', 'Throughout the day Ms Vennells repeatedly apologised, and she broke down in tears four times.', 'However, some who were present in the room had expressions of disbelief, some shook their heads, and some laughed at points made by lead counsel Mr Beer.', 'Between 1999 and 2015, more than 900 people who ran post offices were prosecuted after Horizon, a faulty computer system, made it look like money was missing from their branches.', 'Some sub-postmasters were sent to prison and many suffered financial hardship.', 'Some have since died.', 'Ms Vennells was chief executive of the Post Office from 2012 to 2019, a period of time when sub-postmasters were still being prosecuted, but the organisation continued to deny faults with the Horizon IT software was to blame for shortfalls in accounts.', 'This was despite mounting evidence of wrongful convictions.', 'Ushered into Aldwych House among crowds, cameras and photographers, she began to be questioned and key lines emerged: Former sub-postmistress Jo Hamilton told the BBC that Ms Vennells had been on a ""charm offensive"" and that she didn\'t believe that she had not been aware of Horizon faults earlier than she admitted.', 'Seema Misra, who was eight weeks pregnant with her second child when she was wrongly convicted of false accounting and theft and jailed, told the BBC that Ms Vennells denials of knowledge were part of a ""cover-up"".', 'There was anger too, from some former sub-postmasters.', 'Harjinder Butoy, who was wrongfully convicted of stealing £208,000 and served an 18-month prison term, said he was struggling to believe ""anything that comes out of her mouth"" and he didn\'t believe her tears were genuine.', 'The inquiry was also shown text messages from January this year which revealed former Royal Mail boss Moya Greene said she believed Ms Vennells knew about Horizon faults earlier than she had admitted.', 'The text message exchange followed the screening of an ITV drama that thrust the scandal back into the spotlight.', 'Dame Greene wrote: ""When it was clear the system was at fault, the [Post Office] should have raised a red flag, stopped all proceedings, given people back their money and then tried to compensate them for the ruin this caused in their lives.""', 'Ms Vennells replied: ""Yes, I agree.', 'This has/is taking too long Moya.', 'The toll on everyone affected is dreadful.', 'I hope you had good break and are well.', 'BW Paula.”', 'Dame Greene then wrote: ""I don’t know what to say.', 'I think you knew.""', 'Ms Vennells then said: ""No Moya, that isn’t the case.""', 'Mr Beer asked Ms Vennells: ""How could you not know?""', 'Ms Vennells said: ""This is a situation that is so complex, it is a question I have asked myself as well. ""', 'I have learned some things that I did not know as a result of the inquiry and I imagine that we will go through some of the detail of that.', 'I wish I had known.""', 'As she apologised to sub-postmasters, campaigners, and to the inquiry itself, people, some of whom were sub-postmasters, remained silent, with a few shaking their heads.', 'She said she was ""very affected"" by the human impact statements given by those affected by the scandal.', 'Ms Vennells also apologised to campaigner Alan Bates, to forensic accountants Second Sight who were sacked by the Post Office after finding bugs in Horizon, and to Lord Arbuthnot, who has also campaigned on the behalf of sub-postmasters.', 'Mr Beer asked the former Post Office boss if she thought she had been the ""unluckiest"" chief executive in the UK given that, according to her witness statements, she wasn\'t given information about Horizon, didn\'t see certain documents, and had been given assurances about the IT system by Post Office staff. ""', 'I was given much information, and as the inquiry has heard, there was information that I wasn\'t given, and others didn\'t receive,"" she said.', 'She added that she had been ""too trusting"" and that she was ""disappointed"" where information hadn\'t been shared.']",-0.165418789617194,I hope you had good break and are well.,"Ms Vennells was chief executive of the Post Office from 2012 to 2019, a period of time when sub-postmasters were still being prosecuted, but the organisation continued to deny faults with the Horizon IT software was to blame for shortfalls in accounts.",-0.847424600805555,,Some sub-postmasters were sent to prison and many suffered financial hardship.,2024-05-23
+Oreo-maker Mondelez fined $366 million for rigging European markets,https://edition.cnn.com/2024/05/23/business/oreo-mondelez-eu-antitrust-fine/index.html,"
+  Updated
+        6:57 AM EDT, Thu May 23, 2024
+    ","Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high.
+    
+            Margrethe Vestager, the EU’s competition chief, said in a statement Thursday that Mondelez had illegally limited cross-border sales within the EU to maintain higher prices for its products.
+    
+            “This case is about the price of groceries. It’s a key concern to European citizens and even more obviously in times of very high inflation, where many are in a cost-of-living crisis,” she added during a press conference.
+    
+            The European Commission, which started looking into the case in 2019, found that Mondelez International (MDLZ) had deliberately restricted cross-border trade and abused “its dominant position” in some national markets for the sale of chocolate bars. It launched a formal investigation in 2021.
+    
+            Among other things, the company had ceased supplying chocolate bars in the Netherlands to prevent them from being imported into Belgium, where Mondelez was selling the same products at higher prices, the EU’s executive arm said in the statement.
+    
+            “The commission concluded that Mondelez’s illegal practices prevented retailers from being able to freely source products in (EU) member states with lower prices,” it added.
+    
+            A spokesperson for Mondelez International said the penalty related to “isolated incidents, most of which ceased or were remedied well in advance of the commission’s investigation.”
+    
+            “This historical matter is not representative of who we are and the strong culture of compliance for which we strive … This is why we will continue to place emphasis on our overall compliance culture and have strengthened our annual mandatory compliance program to reflect learnings,” the spokesperson added.
+    
+            Mondelez made an accrual for the fine last year and no further measures will be necessary to finance it.
+    
+            According to the EU, the company’s illegal practices date as far back as 2006 and include refusing to supply a wholesaler in Germany in order to prevent the resale of chocolate bars in Austria, Belgium, Bulgaria and Romania where prices were higher. In another case, Mondelez required a customer to charge higher prices for exports compared with domestic sales.
+    
+            This story has been updated with additional information. Mark Thompson contributed reporting.",CNN,23/05/2024,"['Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high.', 'Margrethe Vestager, the EU’s competition chief, said in astatementThursday that Mondelez had illegally limited cross-border sales within the EU to maintain higher prices for its products.', '“This case is about the price of groceries.', 'It’s a key concern to European citizens and even more obviously in times of very high inflation, where many are in a cost-of-living crisis,” she added during a press conference.', 'The European Commission, which started looking into the case in 2019, found that MondelezInternational (MDLZ)had deliberately restricted cross-border trade and abused “its dominant position” in some national markets for the sale of chocolate bars.', 'It launched a formal investigation in 2021.', 'Among other things, the company had ceased supplying chocolate barsin the Netherlands to prevent them from being imported into Belgium, where Mondelez was selling the same products at higher prices, the EU’s executive arm said in the statement.', '“The commission concluded that Mondelez’s illegal practicesprevented retailers from being able to freely source products in (EU) member states with lower prices,” it added.', 'A spokesperson for Mondelez International said the penalty related to “isolated incidents, most of which ceased or were remedied well in advance of the commission’s investigation.”', '“This historical matter is not representative of who we are and the strong culture of compliance for which we strive … This is why we will continue to place emphasis on our overall compliance culture and have strengthened our annual mandatory compliance program to reflect learnings,” the spokesperson added.', 'Mondelez made an accrual for the fine last year and no further measures will be necessary to finance it.', 'According to the EU, the company’s illegal practices date as far back as 2006 and include refusing to supply a wholesaler in Germany in order to prevent the resale of chocolate bars in Austria, Belgium, Bulgaria and Romania where prices were higher.', 'In another case, Mondelez required a customer to charge higher prices for exports compared with domestic sales.', 'This story has been updated with additional information.', 'Mark Thompson contributed reporting.']",-0.1614163250596154,"“This historical matter is not representative of who we are and the strong culture of compliance for which we strive … This is why we will continue to place emphasis on our overall compliance culture and have strengthened our annual mandatory compliance program to reflect learnings,” the spokesperson added.","According to the EU, the company’s illegal practices date as far back as 2006 and include refusing to supply a wholesaler in Germany in order to prevent the resale of chocolate bars in Austria, Belgium, Bulgaria and Romania where prices were higher.",-0.4894919767975807,"“The commission concluded that Mondelez’s illegal practicesprevented retailers from being able to freely source products in (EU) member states with lower prices,” it added.","Margrethe Vestager, the EU’s competition chief, said in astatementThursday that Mondelez had illegally limited cross-border sales within the EU to maintain higher prices for its products.",2024-05-23
+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.,2024-05-23
+"Justice Department expected to file antitrust suit against Live Nation, owner of Ticketmaster",https://edition.cnn.com/2024/05/22/business/live-nation-ticketmaster-doj-antitrust/index.html,"
+  Updated
+        8:15 PM EDT, Wed May 22, 2024
+    ","The Justice Department and several states are expected to file a lawsuit as soon as Thursday against Live Nation Inc, citing alleged antitrust violations at least in part due to the market dominance of the company’s Ticketmaster unit, a person briefed on the planned legal action said.
+    
+            A successful antritrust case could potentially lead to sweeping changes in the market for live events – an industry that came under intense scrutiny in 2022 after glitches at Ticketmaster blocked millions from purchasing tickets for Taylor Swift’s “Eras” tour.
+    
+            For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensive ticketing fees to restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.
+    
+            The fiasco led lawmakers to grill a top executive of Ticketmaster’s parent company, Live Nation Entertainment, in January last year over the company’s practices.
+    
+            During the three-hour hearing, senators pressed Live Nation president and CFO Joe Berchtold and some other witnesses on whether his company was too dominant in the industry, thereby harming rivals, musicians and fans.
+    
+            “I want to congratulate and thank you for an absolutely stunning achievement,” Sen. Richard Blumenthal said to Berchtold. “You have brought together Republicans and Democrats in an absolutely unified cause.”
+    
+            Nor are music fans and lawmakers the only ones to criticize Live Nation over the years – plenty of musicians and other pop culture figures have as well.
+    
+            Country star Zach Bryan dropped a surprise album at the end of 2022 titled, “All My Homies Hate Ticketmaster (Live at Red Rocks).”
+    
+            In the social media post announcing the album on Christmas Eve, Bryan wrote that it “seems there is a massive issue with fair ticket prices to live shows lately.”
+    
+            Even the long-running animated show “The Simpsons” has piled on, with rapacious capitalist Mr. Burns sneering in one episode to his lackey Mr. Smithers: “You laughed when I bought Ticketmaster. ‘No one’s going to pay a hundred percent service charge.’”
+    
+            This article has been updated with additional context.
+    
+            CNN’s Brian Fung, Samantha Kelly, Hannah Rabinowitz and Dan Heching contributed reporting.",CNN,22/05/2024,"['The Justice Department and several states are expected to file a lawsuit as soon as Thursday against Live Nation Inc, citing alleged antitrust violations at least in part due to the market dominance of the company’s Ticketmaster unit, a person briefed on the planned legal action said.', 'A successful antritrust case could potentially lead to sweeping changes in the market for live events – an industry that came under intense scrutiny in 2022 after glitches at Ticketmaster blocked millions from purchasing tickets for Taylor Swift’s “Eras” tour.', 'For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensive ticketing fees to restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.', 'The fiasco led lawmakers to grill a top executive of Ticketmaster’s parent company, Live Nation Entertainment, in January last year over the company’s practices.', 'During the three-hour hearing, senators pressed Live Nation president and CFO Joe Berchtold and some other witnesses on whether his company was too dominant in the industry, thereby harming rivals, musicians and fans.', '“I want to congratulate and thank you for an absolutely stunning achievement,” Sen. Richard Blumenthal said to Berchtold. “', 'You have brought together Republicans and Democrats in an absolutely unified cause.”', 'Nor are music fans and lawmakers the only ones to criticize Live Nation over the years – plenty of musicians and other pop culture figures have as well.', 'Country star Zach Bryan dropped a surprise album at the end of 2022 titled, “All My Homies Hate Ticketmaster (Live at Red Rocks).”', 'In thesocial media postannouncing the album on Christmas Eve, Bryan wrote that it “seems there is a massive issue with fair ticket prices to live shows lately.”', 'Even the long-running animated show “The Simpsons” has piled on, with rapacious capitalist Mr. Burns sneering in one episode to his lackey Mr. Smithers: “You laughed when I bought Ticketmaster. ‘', 'No one’s going to pay a hundred percent service charge.’”', 'This article has been updated with additional context.', 'CNN’s Brian Fung, Samantha Kelly, Hannah Rabinowitz and Dan Heching contributed reporting.']",0.0295314452706481,"“I want to congratulate and thank you for an absolutely stunning achievement,” Sen. Richard Blumenthal said to Berchtold. “","For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensive ticketing fees to restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.",0.0064931909243265,A successful antritrust case could potentially lead to sweeping changes in the market for live events – an industry that came under intense scrutiny in 2022 after glitches at Ticketmaster blocked millions from purchasing tickets for Taylor Swift’s “Eras” tour.,"For many critics of Live Nation, the Swift debacle revealed how a lack of competition has led to harms ranging from poor customer service to confusing pricing to expensive ticketing fees to restrictions on ticket resales — amounting to what many consumers complain of as death by a thousand cuts.",2024-05-23
+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.",2024-05-23
+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.,,2024-05-23
+"Why is Slough, near London, Europe's largest data centre hub?",https://www.bbc.co.uk/news/articles/cyrl7nlnkjpo,2024-05-21T05:21:22.787Z,"The town of Slough in Berkshire, just outside London, has had a terrible press over the years.  Many will put that down to the British sitcom The Office, yet even before that in 1937 the poet John Betjeman wrote ""Come friendly bombs and fall on Slough!"". But that is perhaps changing.  With its direct transport links to London, close proximity to Heathrow Airport and fast fibre optic connections, it is said to be perfectly placed for a hi-tech revolution. According to the Slough and South Bucks Observer, the town has ""Europe’s largest collection of data centres"", with 34 currently based there and more on the way.  Demand for data centres has been growing ever since the internet took off. According to the local newspaper, Slough, which is just outside the M25 and is less than 10 miles away from Heathrow, welcomed its first data centre in 2005. Slough Trading Estate is now considered to be the largest data centre hub in Europe. For those who don't know, these data centres are where pretty much anything on your phone or computer is stored - the Cloud, websites, social media, pictures, music and more.  Many of London's banks and emergency services use Slough's data centres. But this is a secretive and highly sensitive world where security is not unsurprisingly paramount. Many data centres do not want media attention and politely declined our requests to go inside them.  Even the actual number of data centres in Slough is difficult to pin down. Slough Borough Council says there is ""no definitive record source"" to identify the number of data centres in the borough but it is estimated to be about 30 to 35.  So when we were invited in by Virgin Media O2, it was a rare opportunity to see inside a data centre. Tom Finch, a technical site engineer who works in the data centre, says the site is O2's largest mobile data centre in the UK and manages traffic for 3G, 4G and 5G customers.  ""You have voice calls, you have texts, you have all of your social media platforms like WhatsApp. Everything you operate on your cellular data on your mobile phone will pass through this data centre,"" he says. He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""Slough is on the data highway in the UK. It's far enough outside the capital but through here we have a lot of traffic passing,"" he says. Dan Goodenough, the technical site operations manager, says they have to predict when people want data and demand has gone up since the pandemic. He says they see ""surges in traffic demand, but also the types of traffic"".  ""For example it's home working but it's also online gaming, virtual reality, there's different types of traffic that go across our network today than there was 10 years ago,"" he says. ""The most recent Fortnite download for example, we saw massive peaks in the amount of data our customers were downloading. And that's why we invest £10bn in infrastructure to make sure we can provide the best service."" So why Slough?  According to the website datacenters.com, the advantages of Slough are its strategic location with excellent transport links to London.  The proximity of Heathrow is also an advantage. It says the Slough data centre market offers a number of size facilities to allow expansion.  And Slough also has very robust and fast fibre optic broadband connectivity. It is situated on the main fibre optic line between London and the US. The borough council says being on the main cabling running out of London to Ireland and the US is an advantage.  It says it was the capital's banks that helped create this data centre hub. ""Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says.  ""Co-location is an advantage for data centres, so the existing cluster attracts further interest.""  However, data centres are resource hungry and use a lot of electricity to keep the servers cool and the internet running.  They also use a lot of water for cooling. In the 2022 drought, Thames Water looked at how much water data centres in the area were using.  National Grid's chief executive, John Pettigrew, has previously said that the power data centres use would increase six-fold in the next decade. He said the grid was becoming ""constrained"" and ""bold action"" was needed to create a network able to cope with ""dramatically"" growing demand. According to the website datacenters.com, sustainable energy is a goal in Slough. ""The International Energy Agency reports that hyperscale data centres, which are prevalent in Slough, have accounted for a substantial increase in energy demand globally,"" it says. ""This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""  On the site, Virgin O2 also monitors its phone mast network and its broadband. Emma Fish, the regional operations manager, says data centres are key in the world today and Slough provides the ideal base. ""I think people do realise now how important broadband is,"" she says.  ""I think people class it as a fourth utility. When you buy a house, it's the first thing you look at really to see how fast the broadband is and how reliable it is and I think we depend on it more so now than we have ever done."" ""I think Slough is a key location. Just off the M4, just outside London, I just think Slough is the perfect location for data centres,"" she adds. Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram. Send your story ideas to hello.bbclondon@bbc.co.uk ",BBC,21/05/2024,"['The town of Slough in Berkshire, just outside London, has had a terrible press over the years.', 'Many will put that down to the British sitcom The Office, yet even before that in 1937 the poet John Betjeman wrote ""Come friendly bombs and fall on Slough!"".', 'But that is perhaps changing.', 'With its direct transport links to London, close proximity to Heathrow Airport and fast fibre optic connections, it is said to be perfectly placed for a hi-tech revolution.', 'According to the Slough and South Bucks Observer, the town has ""Europe’s largest collection of data centres"", with 34 currently based there and more on the way.', 'Demand for data centres has been growing ever since the internet took off.', 'According to the local newspaper, Slough, which is just outside the M25 and is less than 10 miles away from Heathrow, welcomed its first data centre in 2005.', 'Slough Trading Estate is now considered to be the largest data centre hub in Europe.', ""For those who don't know, these data centres are where pretty much anything on your phone or computer is stored - the Cloud, websites, social media, pictures, music and more."", ""Many of London's banks and emergency services use Slough's data centres."", 'But this is a secretive and highly sensitive world where security is not unsurprisingly paramount.', 'Many data centres do not want media attention and politely declined our requests to go inside them.', 'Even the actual number of data centres in Slough is difficult to pin down.', 'Slough Borough Council says there is ""no definitive record source"" to identify the number of data centres in the borough but it is estimated to be about 30 to 35.', 'So when we were invited in by Virgin Media O2, it was a rare opportunity to see inside a data centre.', 'Tom Finch, a technical site engineer who works in the data centre, says the site is O2\'s largest mobile data centre in the UK and manages traffic for 3G, 4G and 5G customers. ""', 'You have voice calls, you have texts, you have all of your social media platforms like WhatsApp.', 'Everything you operate on your cellular data on your mobile phone will pass through this data centre,"" he says.', 'He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""', 'Slough is on the data highway in the UK.', 'It\'s far enough outside the capital but through here we have a lot of traffic passing,"" he says.', 'Dan Goodenough, the technical site operations manager, says they have to predict when people want data and demand has gone up since the pandemic.', 'He says they see ""surges in traffic demand, but also the types of traffic"". ""', 'For example it\'s home working but it\'s also online gaming, virtual reality, there\'s different types of traffic that go across our network today than there was 10 years ago,"" he says. ""', 'The most recent Fortnite download for example, we saw massive peaks in the amount of data our customers were downloading.', 'And that\'s why we invest £10bn in infrastructure to make sure we can provide the best service.""', 'So why Slough?', 'According to the website datacenters.com, the advantages of Slough are its strategic location with excellent transport links to London.', 'The proximity of Heathrow is also an advantage.', 'It says the Slough data centre market offers a number of size facilities to allow expansion.', 'And Slough also has very robust and fast fibre optic broadband connectivity.', 'It is situated on the main fibre optic line between London and the US.', 'The borough council says being on the main cabling running out of London to Ireland and the US is an advantage.', 'It says it was the capital\'s banks that helped create this data centre hub. ""', 'Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says. ""', 'Co-location is an advantage for data centres, so the existing cluster attracts further interest.""', 'However, data centres are resource hungry and use a lot of electricity to keep the servers cool and the internet running.', 'They also use a lot of water for cooling.', 'In the 2022 drought, Thames Water looked at how much water data centres in the area were using.', ""National Grid's chief executive, John Pettigrew, has previously said that the power data centres use would increase six-fold in the next decade."", 'He said the grid was becoming ""constrained"" and ""bold action"" was needed to create a network able to cope with ""dramatically"" growing demand.', 'According to the website datacenters.com, sustainable energy is a goal in Slough. ""', 'The International Energy Agency reports that hyperscale data centres, which are prevalent in Slough, have accounted for a substantial increase in energy demand globally,"" it says. ""', 'This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""', 'On the site, Virgin O2 also monitors its phone mast network and its broadband.', 'Emma Fish, the regional operations manager, says data centres are key in the world today and Slough provides the ideal base. ""', 'I think people do realise now how important broadband is,"" she says. ""', 'I think people class it as a fourth utility.', 'When you buy a house, it\'s the first thing you look at really to see how fast the broadband is and how reliable it is and I think we depend on it more so now than we have ever done."" ""', 'I think Slough is a key location.', 'Just off the M4, just outside London, I just think Slough is the perfect location for data centres,"" she adds.', 'Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram.', 'Send your story ideas to hello.bbclondon@bbc.co.uk']",0.1964139971947754,"This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""","Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says. """,0.7485351525247097,"He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""","The town of Slough in Berkshire, just outside London, has had a terrible press over the years.",2024-05-23
+"Rates should be cut to 3.5% by end of 2025, IMF says",https://www.bbc.co.uk/news/articles/cldd6x6gglxo,2024-05-21T10:16:27.932Z,"UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended. Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%. The IMF's comments came as it upgraded its UK's growth forecast for 2024, but it it advised against any further tax cuts. Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"". Mr Hunt added that the IMF had ""forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects"". Labour’s shadow chief secretary Darren Jones said the Conservatives had left the country in ""economic chaos"".  ""Millions of people are paying more on their mortgages, prices are still rising in the shops and the UK economy has been rocked by a mini-budget that left working families worse off,"" he said. Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country's finances, bringing public services to their knees"". The IMF is an international organisation with 190 member countries, including the UK. They work together to try to stabilise the global economy. One of the Fund's jobs is to advise its members on how to improve their economies. The IMF said the UK's economy was ""approaching a soft landing” after last year's mild recession. It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025. While UK inflation, the rate at which prices increase, is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the year, before “durably” settling at the target rate in early 2025, the Fund said. When it came to interest rate cuts, the IMF noted the Bank had to balance the risk of not cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth.  But speaking at a news conference, Ali Abbas, the IMF UK mission chief, said the Fund recommended cutting the current Bank rate of 5.25% to either 4.75% or 4.5% by the end of the year. It also recommended further cuts in 2025, taking the rate as low as 3.5%. “Our recommendation is for 50-75 basis points [0.5-0.75% points] this year, plus we project and this is also this is our recommendation of 100 basis points [1% point] cuts in 2025,"" Mr Abbas said. The IMF warned the next government faced “difficult choices” on taxes and spending, and said it would not have recommended the recent cuts to National Insurance ""given their significant cost"". The Fund assumes that the government will have to spend significantly more on public services over the next five years, meaning that its self-imposed target for falling debt as a share of national income will not be met. This leads to a gap of about 1% of UK gross domestic product (GDP), or £30bn a year. Given the state of the public finances, the IMF said it would ""advise against additional tax cuts"". In January, the Fund had also advised against tax cuts but the government announced another cut to National Insurance in the March Budget.   IMF managing director Kristalina Georgieva told a news conference that the UK needed to bolster its public finances, which were hit by heavy spending during the Covid pandemic. ""We are genuinely concerned, not just for the UK, [but] for all countries that have used fiscal buffers extensively, that they must do more to rebuild these buffers,"" she said. ""In a world of more uncertainty, we do not know when there may be again a call on governments to have to borrow more to spend more."" The report’s key long-term concern was a lack of workers arising from long-term illness and fewer foreign workers. It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates. The IMF suggests extra tax revenue from road usage, VAT, inheritance and property should be required. It also advises the end of the triple lock on the state pension - a government promise to raise it by the rate of earnings, inflation or 2.5%, whichever is highest - and instead pegging increases to inflation alone. The IMF also pointedly advised the government to “stay the course on climate policy”, after recent delays to net zero policy timetables, for example, on electric cars. The annual report is the conclusion of a team of IMF economists who have spent months meeting policymakers and businesses as part of what is known as the Article IV process. But economic forecasters are not always right with their predictions and the IMF and UK government have disagreed in the past over previous projections. ",BBC,21/05/2024,"['UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended.', 'Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%.', ""The IMF's comments came as it upgraded its UK's growth forecast for 2024, but it it advised against any further tax cuts."", 'Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"".', 'Mr Hunt added that the IMF had ""forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects"".', 'Labour’s shadow chief secretary Darren Jones said the Conservatives had left the country in ""economic chaos"". ""', 'Millions of people are paying more on their mortgages, prices are still rising in the shops and the UK economy has been rocked by a mini-budget that left working families worse off,"" he said.', 'Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country\'s finances, bringing public services to their knees"".', 'The IMF is an international organisation with 190 member countries, including the UK.', 'They work together to try to stabilise the global economy.', ""One of the Fund's jobs is to advise its members on how to improve their economies."", 'The IMF said the UK\'s economy was ""approaching a soft landing” after last year\'s mild recession.', 'It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025.', ""While UK inflation, the rate at which prices increase, is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the year, before “durably” settling at the target rate in early 2025, the Fund said."", 'When it came to interest rate cuts, the IMF noted the Bank had to balance the risk of not cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth.', 'But speaking at a news conference, Ali Abbas, the IMF UK mission chief, said the Fund recommended cutting the current Bank rate of 5.25% to either 4.75% or 4.5% by the end of the year.', 'It also recommended further cuts in 2025, taking the rate as low as 3.5%. “', 'Our recommendation is for 50-75 basis points [0.5-0.75% points] this year, plus we project and this is also this is our recommendation of 100 basis points [1% point] cuts in 2025,"" Mr Abbas said.', 'The IMF warned the next government faced “difficult choices” on taxes and spending, and said it would not have recommended the recent cuts to National Insurance ""given their significant cost"".', 'The Fund assumes that the government will have to spend significantly more on public services over the next five years, meaning that its self-imposed target for falling debt as a share of national income will not be met.', 'This leads to a gap of about 1% of UK gross domestic product (GDP), or £30bn a year.', 'Given the state of the public finances, the IMF said it would ""advise against additional tax cuts"".', 'In January, the Fund had also advised against tax cuts but the government announced another cut to National Insurance in the March Budget.', 'IMF managing director Kristalina Georgieva told a news conference that the UK needed to bolster its public finances, which were hit by heavy spending during the Covid pandemic. ""', 'We are genuinely concerned, not just for the UK, [but] for all countries that have used fiscal buffers extensively, that they must do more to rebuild these buffers,"" she said. ""', 'In a world of more uncertainty, we do not know when there may be again a call on governments to have to borrow more to spend more.""', 'The report’s key long-term concern was a lack of workers arising from long-term illness and fewer foreign workers.', 'It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates.', 'The IMF suggests extra tax revenue from road usage, VAT, inheritance and property should be required.', 'It also advises the end of the triple lock on the state pension - a government promise to raise it by the rate of earnings, inflation or 2.5%, whichever is highest - and instead pegging increases to inflation alone.', 'The IMF also pointedly advised the government to “stay the course on climate policy”, after recent delays to net zero policy timetables, for example, on electric cars.', 'The annual report is the conclusion of a team of IMF economists who have spent months meeting policymakers and businesses as part of what is known as the Article IV process.', 'But economic forecasters are not always right with their predictions and the IMF and UK government have disagreed in the past over previous projections.']",-0.123904855719287,"Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"".","It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates.",0.0678097248077392,"It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025.","Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country's finances, bringing public services to their knees"".",2024-05-23
+Paula Vennells told not to make Post Office front page news,https://www.bbc.co.uk/news/articles/cl44j0xgeljo,2024-05-23T14:33:57.954Z,"The Post Office dropped a wide-ranging review into the convictions of sub-postmasters over fears it would make ""front page news"".  Paula Vennells, the former Post Office boss, had suggested in 2013 that convictions going back 10 years could be scrutinised. But in an email revealed at the inquiry into the Horizon IT scandal on Thursday, ex-Post Office media chief, Mark Davies, told Ms Vennells that it would ""fuel the story and turn it into something bigger than it is"". Ms Vennells replied at the time that she would take her PR adviser's ""steer"" but admitted at the inquiry such a review could have ""avoided a lost decade"" in terms of discovering miscarriages of justice. On a second day of questions, Ms Vennells was grilled about a report by forensic accountants Second Sight which was published on 8 July, 2013 and flagged up bugs in the Horizon IT system. The Post Office had previously insisted that Horizon - which is accountancy software used by sub-postmasters in their branches - was robust. In an email to colleagues prior to the report's publication, Ms Vennells made suggestions to address concerns of campaigners including Alan Bates and Lord Arbuthnot about the safety of previous Horizon convictions. This included reviewing all convictions for false accounting stretching back up to 10 years ""in the light of the Second Sight findings"". Mr Davis said: ""If we say publicly that we will look at past cases... we will open this up very significantly into front page news. In media terms it becomes mainstream, very high profile."" Ms Vennells responded: ""You were right to call this out, and I will take your steer, no issue."" Lead counsel for the inquiry, Jason Beer KC, asked Ms Vennells asked if this meant that she took the advice of Mr Davis not to look back further into past cases.  Ms Vennells began to respond, saying ""I really don't remember it relating to the decision"" prompting groans from the public gallery where former sub-postmasters and postmistresses were watching proceedings. This sparked a rare intervention by Sir Wyn Williams, chairman of the inquiry, asking for calm.  Mr Beer said that had the idea been put into effect, it may have ""avoided a lost decade"" in terms of discovering miscarriages of justice. ""It may well have done,"" conceded Ms Vennells. Hundreds of sub-postmasters and postmistresses were convicted for offences including theft and false accounting on the strength of faulty Horizon data. Money was flagged as being missing from Post Office accounts when, in reality, it wasn't. From 1999 to 2015, there were 983 UK convictions - the majority of which were prosecuted by the Post Office itself, which is owned by the government. A smaller number of cases were prosecuted by the Crown Prosecution Service. Ms Vennells admitted on Wednesday that she did not know until 2012 that it was the Post Office and not external bodies that were prosecuting sub-postmasters.  She joined the firm in 2007 and was promoted to managing director three years later.  So far only 103 sub-postmasters have had their convictions overturned. Sub-postmasters were required to repay the supposedly missing funds and many were still prosecuted. Some went to prison and many were ruined financially. Ms Vennells said that Mr Davis was trying to ""minimise misinterpretation and exaggeration in the media"" due to the Post Office thinking at the time that there had only been a small number of possible problems with convictions. Mr Beer said the idea of not looking back at past convictions because it could generate front page news was ""a grossly improper perspective"", to which Ms Vennells replied: ""Yes, it is."" She added that she would ""never"" have taken the advice of just one colleague on this. Speaking to the BBC in a break in the proceedings, former sub-postmaster Jo Hamilton said the decision not to go ahead with a review was ""a deliberate missed opportunity"". Former sub-postmaster Seema Misra, who was sent to prison while pregnant, added that she thought it was evidence of a ""cover-up"". Ms Vennells was also asked about a Post Office board meeting in July 2013. Mr Beer said former Post Office general counsel Susan Crichton was ""made to wait outside on a chair"" like a ""naughty schoolgirl"" during the meeting. Ms Crichton had prepared a paper on Horizon legal risks, but she didn't get a chance to present it. ""[Ms] Crichton has told us in this inquiry that she spoke to you before the meeting to say that, in her view, there would be many successful claims against the Post Office arising from past wrongful prosecutions,"" Mr Beer said, asking whether that was true. ""I have no recollection of that whatsoever,"" Ms Vennells replied. Mr Beer pressed Ms Vennells on why she presented parts of Ms Crichton's paper to the board. ""Did you take over her paper and present it or the issues in it to prevent the board from hearing her opinion?"" Mr Beer asked. Ms Vennells said she ""would not cover anything up in this process,"" adding: ""I never once withheld information from the board."" She said she was expecting Ms Crichton ""to come in and, minutes before that should have happened, the chairman told me she had decided to stand Susan down."" Speaking to the BBC after the hearing had stopped on Thursday, former sub-postmaster Lee Castleton said he would have liked Ms Vennells to be ""more candid about who said what"". Former sub-postmaster Janet Skinner, who was jailed for false accounting and pursued for ""proceeds of crime"" said she believed Ms Crichton had been ""cold-shouldered"" by the Post Office because they ""didn't like what she was saying"". ",BBC,23/05/2024,"['The Post Office dropped a wide-ranging review into the convictions of sub-postmasters over fears it would make ""front page news"".', 'Paula Vennells, the former Post Office boss, had suggested in 2013 that convictions going back 10 years could be scrutinised.', 'But in an email revealed at the inquiry into the Horizon IT scandal on Thursday, ex-Post Office media chief, Mark Davies, told Ms Vennells that it would ""fuel the story and turn it into something bigger than it is"".', 'Ms Vennells replied at the time that she would take her PR adviser\'s ""steer"" but admitted at the inquiry such a review could have ""avoided a lost decade"" in terms of discovering miscarriages of justice.', 'On a second day of questions, Ms Vennells was grilled about a report by forensic accountants Second Sight which was published on 8 July, 2013 and flagged up bugs in the Horizon IT system.', 'The Post Office had previously insisted that Horizon - which is accountancy software used by sub-postmasters in their branches - was robust.', ""In an email to colleagues prior to the report's publication, Ms Vennells made suggestions to address concerns of campaigners including Alan Bates and Lord Arbuthnot about the safety of previous Horizon convictions."", 'This included reviewing all convictions for false accounting stretching back up to 10 years ""in the light of the Second Sight findings"".', 'Mr Davis said: ""If we say publicly that we will look at past cases... we will open this up very significantly into front page news.', 'In media terms it becomes mainstream, very high profile.""', 'Ms Vennells responded: ""You were right to call this out, and I will take your steer, no issue.""', 'Lead counsel for the inquiry, Jason Beer KC, asked Ms Vennells asked if this meant that she took the advice of Mr Davis not to look back further into past cases.', 'Ms Vennells began to respond, saying ""I really don\'t remember it relating to the decision"" prompting groans from the public gallery where former sub-postmasters and postmistresses were watching proceedings.', 'This sparked a rare intervention by Sir Wyn Williams, chairman of the inquiry, asking for calm.', 'Mr Beer said that had the idea been put into effect, it may have ""avoided a lost decade"" in terms of discovering miscarriages of justice. ""', 'It may well have done,"" conceded Ms Vennells.', 'Hundreds of sub-postmasters and postmistresses were convicted for offences including theft and false accounting on the strength of faulty Horizon data.', ""Money was flagged as being missing from Post Office accounts when, in reality, it wasn't."", 'From 1999 to 2015, there were 983 UK convictions - the majority of which were prosecuted by the Post Office itself, which is owned by the government.', 'A smaller number of cases were prosecuted by the Crown Prosecution Service.', 'Ms Vennells admitted on Wednesday that she did not know until 2012 that it was the Post Office and not external bodies that were prosecuting sub-postmasters.', 'She joined the firm in 2007 and was promoted to managing director three years later.', 'So far only 103 sub-postmasters have had their convictions overturned.', 'Sub-postmasters were required to repay the supposedly missing funds and many were still prosecuted.', 'Some went to prison and many were ruined financially.', 'Ms Vennells said that Mr Davis was trying to ""minimise misinterpretation and exaggeration in the media"" due to the Post Office thinking at the time that there had only been a small number of possible problems with convictions.', 'Mr Beer said the idea of not looking back at past convictions because it could generate front page news was ""a grossly improper perspective"", to which Ms Vennells replied: ""Yes, it is.""', 'She added that she would ""never"" have taken the advice of just one colleague on this.', 'Speaking to the BBC in a break in the proceedings, former sub-postmaster Jo Hamilton said the decision not to go ahead with a review was ""a deliberate missed opportunity"".', 'Former sub-postmaster Seema Misra, who was sent to prison while pregnant, added that she thought it was evidence of a ""cover-up"".', 'Ms Vennells was also asked about a Post Office board meeting in July 2013.', 'Mr Beer said former Post Office general counsel Susan Crichton was ""made to wait outside on a chair"" like a ""naughty schoolgirl"" during the meeting.', 'Ms Crichton had prepared a paper on Horizon legal risks, but she didn\'t get a chance to present it. ""[', 'Ms] Crichton has told us in this inquiry that she spoke to you before the meeting to say that, in her view, there would be many successful claims against the Post Office arising from past wrongful prosecutions,"" Mr Beer said, asking whether that was true. ""', 'I have no recollection of that whatsoever,"" Ms Vennells replied.', 'Mr Beer pressed Ms Vennells on why she presented parts of Ms Crichton\'s paper to the board. ""', 'Did you take over her paper and present it or the issues in it to prevent the board from hearing her opinion?""', 'Mr Beer asked.', 'Ms Vennells said she ""would not cover anything up in this process,"" adding: ""I never once withheld information from the board.""', 'She said she was expecting Ms Crichton ""to come in and, minutes before that should have happened, the chairman told me she had decided to stand Susan down.""', 'Speaking to the BBC after the hearing had stopped on Thursday, former sub-postmaster Lee Castleton said he would have liked Ms Vennells to be ""more candid about who said what"".', 'Former sub-postmaster Janet Skinner, who was jailed for false accounting and pursued for ""proceeds of crime"" said she believed Ms Crichton had been ""cold-shouldered"" by the Post Office because they ""didn\'t like what she was saying"".']",-0.0462444255156551,"Ms] Crichton has told us in this inquiry that she spoke to you before the meeting to say that, in her view, there would be many successful claims against the Post Office arising from past wrongful prosecutions,"" Mr Beer said, asking whether that was true. """,Some went to prison and many were ruined financially.,-0.2633119388060136,The Post Office had previously insisted that Horizon - which is accountancy software used by sub-postmasters in their branches - was robust.,"The Post Office dropped a wide-ranging review into the convictions of sub-postmasters over fears it would make ""front page news"".",2024-05-23
+UK inflation: How does the UK compare with other economies?,https://www.bbc.co.uk/news/articles/cedd1nd5d9go,2024-05-22T19:23:16.585Z,"On the day that Rishi Sunak called a July election and the latest figures showed inflation falling, the government has been talking about its record on the economy.  Chancellor Jeremy Hunt made a number of claims on BBC Radio 4 on Wednesday, including comparisons between the UK economy and other countries.  We have looked at some of them. Mr Hunt said: “Inflation [in the UK] is now lower than in the eurozone or in the United States of America, but prices are still a lot higher than they were a year ago.” He's right. Inflation measured by the Consumer Prices Index (CPI) was 2.3% in the UK in the year to April 2024. The main measure of consumer inflation in the US in April 2024 was 3.4%. And in the eurozone, inflation in April was 2.4%. But the UK’s inflation rate peaked higher than in the US and the eurozone, at 11.1% in October 2022. Mr Hunt said that “the UK economy will grow faster over the next six years than in France, Germany, Italy or Japan"", according to the International Monetary Fund (IMF). It should be said that forecasting what the economy will be like six years in the future is highly uncertain. The IMF did indeed predict that the UK economy, as measured through its gross domestic product (GDP), would be 8.8% bigger by the end of 2029 than at the start of this year. That would be more growth than it forecasts for France (8.3%), Germany (5.7%), Italy (3.5%) or Japan (4.4%). But it would be smaller than the other two members of the G7 major advanced economies: US (13.7%) and Canada (10.8%). It should also be mentioned that other forecasters are less optimistic about the UK, at least in the short term. The Organisation for Economic Co-operation and Development (OECD), for example, predicts that the UK will have the worst growth in the G7 next year. The OECD is a group of countries which aims to assist economic development, raise living standards and promote growth in world trade. Talking about what has happened to living standards in the UK, Mr Hunt said: “Living standards have fallen by more in Germany,  Austria or Sweden.” The chancellor did not specify which measure of living standards he was talking about, or over what period. BBC Verify could not find the figures to support his claim, so we asked the Treasury. It told us Mr Hunt was talking about the OECD’s measure of “gross disposable household income” over a specific period - comparing July to September 2022 with October to December 2023. This is borne out by the OECD data, although the choice of time period seems arbitrary, as does the selection of comparator countries.  If you look at UK living standards between the last three months of 2019 - before the pandemic started - and the end of last year, they have performed worse than those countries and also worse than the G7 average. The G7 (Group of Seven) is a group of seven big industrialised economies. “We’ve attracted more than that [foreign direct investment] then anywhere in the world except the United States and China since 2010,” Mr Hunt said. The Department for Business and Trade produces an overview of “greenfield foreign direct investment data”. “Greenfield” refers to the entire new investment in a country. This data shows that foreign investment in the UK grew by £498bn between 2010 and 2022. That’s lower than the US (£848bn) and China (£708bn), but higher than Germany (£222bn) and France (£133bn) Another indicator of relative attractiveness of European countries to foreign investors by the accountancy firm EY suggests the UK has fallen behind France. World Bank data on foreign direct investment as a share of the economy suggests that the difference between France, Germany and the UK is less pronounced than the greenfield data. Additional reporting by Gerry Georgieva  What do you want BBC Verify to investigate? ",BBC,22/05/2024,"['On the day that Rishi Sunak called a July election and the latest figures showed inflation falling, the government has been talking about its record on the economy.', 'Chancellor Jeremy Hunt made a number of claims on BBC Radio 4 on Wednesday, including comparisons between the UK economy and other countries.', 'We have looked at some of them.', 'Mr Hunt said: “Inflation [in the UK] is now lower than in the eurozone or in the United States of America, but prices are still a lot higher than they were a year ago.”', ""He's right."", 'Inflation measured by the Consumer Prices Index (CPI) was 2.3% in the UK in the year to April 2024.', 'The main measure of consumer inflation in the US in April 2024 was 3.4%.', 'And in the eurozone, inflation in April was 2.4%.', 'But the UK’s inflation rate peaked higher than in the US and the eurozone, at 11.1% in October 2022.', 'Mr Hunt said that “the UK economy will grow faster over the next six years than in France, Germany, Italy or Japan"", according to the International Monetary Fund (IMF).', 'It should be said that forecasting what the economy will be like six years in the future is highly uncertain.', 'The IMF did indeed predict that the UK economy, as measured through its gross domestic product (GDP), would be 8.8% bigger by the end of 2029 than at the start of this year.', 'That would be more growth than it forecasts for France (8.3%), Germany (5.7%), Italy (3.5%) or Japan (4.4%).', 'But it would be smaller than the other two members of the G7 major advanced economies: US (13.7%) and Canada (10.8%).', 'It should also be mentioned that other forecasters are less optimistic about the UK, at least in the short term.', 'The Organisation for Economic Co-operation and Development (OECD), for example, predicts that the UK will have the worst growth in the G7 next year.', 'The OECD is a group of countries which aims to assist economic development, raise living standards and promote growth in world trade.', 'Talking about what has happened to living standards in the UK, Mr Hunt said: “Living standards have fallen by more in Germany, Austria or Sweden.”', 'The chancellor did not specify which measure of living standards he was talking about, or over what period.', 'BBC Verify could not find the figures to support his claim, so we asked the Treasury.', 'It told us Mr Hunt was talking about the OECD’s measure of “gross disposable household income” over a specific period - comparing July to September 2022 with October to December 2023.', 'This is borne out by the OECD data, although the choice of time period seems arbitrary, as does the selection of comparator countries.', 'If you look at UK living standards between the last three months of 2019 - before the pandemic started - and the end of last year, they have performed worse than those countries and also worse than the G7 average.', 'The G7 (Group of Seven) is a group of seven big industrialised economies. “', 'We’ve attracted more than that [foreign direct investment] then anywhere in the world except the United States and China since 2010,” Mr Hunt said.', 'The Department for Business and Trade produces an overview of “greenfield foreign direct investment data”. “', 'Greenfield” refers to the entire new investment in a country.', 'This data shows that foreign investment in the UK grew by £498bn between 2010 and 2022.', 'That’s lower than the US (£848bn) and China (£708bn), but higher than Germany (£222bn) and France (£133bn) Another indicator of relative attractiveness of European countries to foreign investors by the accountancy firm EY suggests the UK has fallen behind France.', 'World Bank data on foreign direct investment as a share of the economy suggests that the difference between France, Germany and the UK is less pronounced than the greenfield data.', 'Additional reporting by Gerry Georgieva What do you want BBC Verify to investigate?']",0.0298551878323166,"We’ve attracted more than that [foreign direct investment] then anywhere in the world except the United States and China since 2010,” Mr Hunt said.","If you look at UK living standards between the last three months of 2019 - before the pandemic started - and the end of last year, they have performed worse than those countries and also worse than the G7 average.",0.2239768132567405,"Mr Hunt said that “the UK economy will grow faster over the next six years than in France, Germany, Italy or Japan"", according to the International Monetary Fund (IMF).","That’s lower than the US (£848bn) and China (£708bn), but higher than Germany (£222bn) and France (£133bn) Another indicator of relative attractiveness of European countries to foreign investors by the accountancy firm EY suggests the UK has fallen behind France.",2024-05-23
+"BMW, Jaguar and VW imported banned Xinjiang parts - Senate probe",https://www.bbc.co.uk/news/articles/cv2237rplg8o,2024-05-21T03:19:37.025Z,"BMW, Jaguar Land Rover (JLR) and Volkswagen (VW) used parts made by a supplier on a list of firms banned over alleged links to Chinese forced labour, a US congressional report has said. At least 8,000 BMW Mini Cooper cars were imported into the US with components from banned Chinese firm Sichuan Jingweida Technology Group (JWD), according to the report by Senate Finance Committee chairman Ron Wyden's staff. ""Automakers’ self-policing is clearly not doing the job,"" the Democrat Senator said. BMW said it had ""strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow"". It added it had taken steps to ""halt the importation of affected products and will be conducting a service action with customer and dealer notification for affected motor vehicles"". Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".  VW did not immediately respond to a request for comment. Mr Wyden also urged the US Customs and Border Protection agency to ""supercharge enforcement and crack down on companies that fuel the shameful use of forced labour in China"". The report added Jaguar Land Rover had imported spare parts which included components from JWD after the company was put on the banned list. JLR said it has now identified and is destroying any stock it holds around the world that include this component. In February, VW said thousands of its vehicles, including Porsches and Bentleys, had been held by authorities because they had a component in them that breached America's anti-forced labour laws. VW had voluntarily informed customs officials about the issue, the report said. Congress passed the Uyghur Forced Labor Prevention Act (UFLPA) into law in 2021. The legislation is intended to prevent the import of goods from China's north-western Xinjiang region that are believed to have been made by people from the Uyghur minority group in forced labour conditions.  JWD was added to the UFLPA Entity List in December 2023, which means its products are presumed to be made with forced labour. China has been accused of detaining more than one million Uyghurs in Xinjiang against their will over the past few years. Authorities have denied all allegations of human rights abuses in Xinjiang. “The so-called Uyghur Forced Labor Prevention Act by the US is not about forced labor but about creating unemployment. It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. ""China strongly condemns and firmly opposes this. We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.” ",BBC,21/05/2024,"['BMW, Jaguar Land Rover (JLR) and Volkswagen (VW) used parts made by a supplier on a list of firms banned over alleged links to Chinese forced labour, a US congressional report has said.', 'At least 8,000 BMW Mini Cooper cars were imported into the US with components from banned Chinese firm Sichuan Jingweida Technology Group (JWD), according to the report by Senate Finance Committee chairman Ron Wyden\'s staff. ""', 'Automakers’ self-policing is clearly not doing the job,"" the Democrat Senator said.', 'BMW said it had ""strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow"".', 'It added it had taken steps to ""halt the importation of affected products and will be conducting a service action with customer and dealer notification for affected motor vehicles"".', 'Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".', 'VW did not immediately respond to a request for comment.', 'Mr Wyden also urged the US Customs and Border Protection agency to ""supercharge enforcement and crack down on companies that fuel the shameful use of forced labour in China"".', 'The report added Jaguar Land Rover had imported spare parts which included components from JWD after the company was put on the banned list.', 'JLR said it has now identified and is destroying any stock it holds around the world that include this component.', ""In February, VW said thousands of its vehicles, including Porsches and Bentleys, had been held by authorities because they had a component in them that breached America's anti-forced labour laws."", 'VW had voluntarily informed customs officials about the issue, the report said.', 'Congress passed the Uyghur Forced Labor Prevention Act (UFLPA) into law in 2021.', ""The legislation is intended to prevent the import of goods from China's north-western Xinjiang region that are believed to have been made by people from the Uyghur minority group in forced labour conditions."", 'JWD was added to the UFLPA Entity List in December 2023, which means its products are presumed to be made with forced labour.', 'China has been accused of detaining more than one million Uyghurs in Xinjiang against their will over the past few years.', 'Authorities have denied all allegations of human rights abuses in Xinjiang. “', 'The so-called Uyghur Forced Labor Prevention Act by the US is not about forced labor but about creating unemployment.', 'It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. ""', 'China strongly condemns and firmly opposes this.', 'We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”']",-0.3569157781414933,We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”,"Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".",-0.938326338926951,,"It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. """,2024-05-23
+'People are just not worried about being scammed',https://www.bbc.co.uk/news/articles/c988v355e8do,2024-05-22T23:09:19.336Z,"When Clark Hoefnagels’ grandmother was scammed out of $27,000 (£21,000) last year, he felt compelled to do something about it. “It felt like my family was vulnerable, and I needed to do something to protect them,” he says. “There was a sense of responsibility to deal with all the things tech related for my family.” As part of his efforts, Mr Hoefnagels, who lives in Ontario, Canada, ran the scam or “phishing” emails his gran had received through popular AI chatbot ChatGPT. He was curious to see if it would recognise them as fraudulent, and it immediately did so. From this the germ an idea was born, which has since grown into a business called Catch. It is an AI system that has been trained to spot scam emails. Currently compatible with Google’s Gmail, Catch scans incoming emails, and highlights any deemed to be fraudulent, or potentially so. AI tools such as ChatGPT, Google Gemini, Claude and Microsoft Copilot are also known as generative AI. This is because they can generate new content. Initially this was a text reply in response to a question, request, or you starting a conversation with them. But generative AI apps can now increasingly create photos and paintings, voice content, compose music or make documents. People from all walks of life and industries are increasingly using such AI to enhance their work. Unfortunately so are scammers. In fact, there is a product sold on the dark web called FraudGPT, which allows criminals to make content to facilitate a range of frauds, including creating bank-related phishing emails, or to custom-make scam web pages designed to steal personal information. More worrying is the use of voice cloning, which can be used to convince a relative that a loved one is in need of financial help, or even in some cases to convince them the individual has been kidnapped and needs a ransom paid. There are some pretty alarming stats out there about the scale of the growing problem of AI fraud. Reports of AI tools being used to try to fool banks’ systems increased by 84% in 2022, accounting to the most recent figures from anti-fraud organisation Cifas. It is a similar situation in the US, where a report this month said that AI “has led to a significant increasing the sophistication of cyber crime”. Given this increased global threat, you’d imagine that Mr Hoefnagels’ Catch product would be popular with members of the public. Sadly that hasn’t been the case. “People don’t want it,” he says. “We learned that people are not worried about scams, even after they’ve been scammed. “We talked to a guy who lost $15,000, and told him we would have caught the email, and he was not interested. People are not interested in any level of protection.” Mr Hoefnagels adds that this particular man simply didn’t think it would happen to him again. The group that is concerned about being scammed, he says, are older people. Yet rather than buying protection, he says that their fears are more often assuaged by a very low-tech tactic - their children telling them simply to not answer or reply to anything. Mr Hoefnagels says he fully understands this approach. “After what happened to my grandmother, we basically said ‘don’t answer the phone if it's not in your contacts, and don’t go on email anymore’.” As a result of the apathy Catch has faced, Mr Hoefnagel says he is now winding down the business, while also looking for a partner who would integrate it into their other financial products. While individuals can be blasé about scams, and scammers increasingly using AI specifically, banks cannot afford to be. Two thirds of finance firms now see AI-powered scams as “a growing threat”, according to a global survey from January. Meanwhile, a separate UK study from last December said that “it was only a matter of time before fraudsters adopt AI for fraud and scams at scale”.  Thankfully, banks are now increasingly using AI to fight back. AI-powered software made by Norwegian start-up Strise has been helping European banks spot fraudulent transactions and money laundering since 2019. It automatically, and rapidly, trawls through millions of data points per day, unveiling hidden risks.  “There are lots of pieces of the puzzle you need to stick together, and AI software allows checks to be automated,” says Strise co-founder Marit Rødevand. “It is a very complicated business, and compliance teams have been staffing up drastically in recent years, but AI can help stitch this information together very quickly.” Ms Rødevand adds that it is all about keeping one step ahead of the criminals. “The criminal doesn’t have to care about legislation or compliance. And they are also good at sharing data, whereas banks can’t share because of regulation, so criminals can jump on new tech more quickly.” Featurespace, another tech firm that makes AI software to help banks to fight fraud, says it spots things that are out of the ordinary. “We’re not tracking the behaviour of the scammer, instead we are tracking the behaviour of the genuine customer,” says Martina King, the Anglo-American company’s chief executive. “We build a statistical profile around what good normal looks like. We can see, based on the data the bank has, if something is normal behaviour, or anomalistic and out of kilter.” The firm says it is now working with banks such as HSBC, NatWest and TSB, and has contracts in 27 different countries. Back in Ontario, Mr Hoefnagels says that while he was initially frustrated that more members of the public don’t comprehend the growing risk of scams, he now understands that people just don’t think it will happen to them. “It’s led me to be more sympathetic to individuals, and [instead] to try to push companies and governments more.” ",BBC,22/05/2024,"['When Clark Hoefnagels’ grandmother was scammed out of $27,000 (£21,000) last year, he felt compelled to do something about it. “', 'It felt like my family was vulnerable, and I needed to do something to protect them,” he says. “', 'There was a sense of responsibility to deal with all the things tech related for my family.”', 'As part of his efforts, Mr Hoefnagels, who lives in Ontario, Canada, ran the scam or “phishing” emails his gran had received through popular AI chatbot ChatGPT.', 'He was curious to see if it would recognise them as fraudulent, and it immediately did so.', 'From this the germ an idea was born, which has since grown into a business called Catch.', 'It is an AI system that has been trained to spot scam emails.', 'Currently compatible with Google’s Gmail, Catch scans incoming emails, and highlights any deemed to be fraudulent, or potentially so.', 'AI tools such as ChatGPT, Google Gemini, Claude and Microsoft Copilot are also known as generative AI.', 'This is because they can generate new content.', 'Initially this was a text reply in response to a question, request, or you starting a conversation with them.', 'But generative AI apps can now increasingly create photos and paintings, voice content, compose music or make documents.', 'People from all walks of life and industries are increasingly using such AI to enhance their work.', 'Unfortunately so are scammers.', 'In fact, there is a product sold on the dark web called FraudGPT, which allows criminals to make content to facilitate a range of frauds, including creating bank-related phishing emails, or to custom-make scam web pages designed to steal personal information.', 'More worrying is the use of voice cloning, which can be used to convince a relative that a loved one is in need of financial help, or even in some cases to convince them the individual has been kidnapped and needs a ransom paid.', 'There are some pretty alarming stats out there about the scale of the growing problem of AI fraud.', 'Reports of AI tools being used to try to fool banks’ systems increased by 84% in 2022, accounting to the most recent figures from anti-fraud organisation Cifas.', 'It is a similar situation in the US, where a report this month said that AI “has led to a significant increasing the sophistication of cyber crime”.', 'Given this increased global threat, you’d imagine that Mr Hoefnagels’ Catch product would be popular with members of the public.', 'Sadly that hasn’t been the case. “', 'People don’t want it,” he says. “', 'We learned that people are not worried about scams, even after they’ve been scammed. “', 'We talked to a guy who lost $15,000, and told him we would have caught the email, and he was not interested.', 'People are not interested in any level of protection.”', 'Mr Hoefnagels adds that this particular man simply didn’t think it would happen to him again.', 'The group that is concerned about being scammed, he says, are older people.', 'Yet rather than buying protection, he says that their fears are more often assuaged by a very low-tech tactic - their children telling them simply to not answer or reply to anything.', 'Mr Hoefnagels says he fully understands this approach. “', ""After what happened to my grandmother, we basically said ‘don’t answer the phone if it's not in your contacts, and don’t go on email anymore’.”"", 'As a result of the apathy Catch has faced, Mr Hoefnagel says he is now winding down the business, while also looking for a partner who would integrate it into their other financial products.', 'While individuals can be blasé about scams, and scammers increasingly using AI specifically, banks cannot afford to be.', 'Two thirds of finance firms now see AI-powered scams as “a growing threat”, according to a global survey from January.', 'Meanwhile, a separate UK study from last December said that “it was only a matter of time before fraudsters adopt AI for fraud and scams at scale”.', 'Thankfully, banks are now increasingly using AI to fight back.', 'AI-powered software made by Norwegian start-up Strise has been helping European banks spot fraudulent transactions and money laundering since 2019.', 'It automatically, and rapidly, trawls through millions of data points per day, unveiling hidden risks. “', 'There are lots of pieces of the puzzle you need to stick together, and AI software allows checks to be automated,” says Strise co-founder Marit Rødevand. “', 'It is a very complicated business, and compliance teams have been staffing up drastically in recent years, but AI can help stitch this information together very quickly.”', 'Ms Rødevand adds that it is all about keeping one step ahead of the criminals. “', 'The criminal doesn’t have to care about legislation or compliance.', 'And they are also good at sharing data, whereas banks can’t share because of regulation, so criminals can jump on new tech more quickly.”', 'Featurespace, another tech firm that makes AI software to help banks to fight fraud, says it spots things that are out of the ordinary. “', 'We’re not tracking the behaviour of the scammer, instead we are tracking the behaviour of the genuine customer,” says Martina King, the Anglo-American company’s chief executive. “', 'We build a statistical profile around what good normal looks like.', 'We can see, based on the data the bank has, if something is normal behaviour, or anomalistic and out of kilter.”', 'The firm says it is now working with banks such as HSBC, NatWest and TSB, and has contracts in 27 different countries.', 'Back in Ontario, Mr Hoefnagels says that while he was initially frustrated that more members of the public don’t comprehend the growing risk of scams, he now understands that people just don’t think it will happen to them. “', 'It’s led me to be more sympathetic to individuals, and [instead] to try to push companies and governments more.”']",-0.1347552040062666,"More worrying is the use of voice cloning, which can be used to convince a relative that a loved one is in need of financial help, or even in some cases to convince them the individual has been kidnapped and needs a ransom paid.","In fact, there is a product sold on the dark web called FraudGPT, which allows criminals to make content to facilitate a range of frauds, including creating bank-related phishing emails, or to custom-make scam web pages designed to steal personal information.",0.3680250006062643,"Reports of AI tools being used to try to fool banks’ systems increased by 84% in 2022, accounting to the most recent figures from anti-fraud organisation Cifas.","Two thirds of finance firms now see AI-powered scams as “a growing threat”, according to a global survey from January.",2024-05-23
+Live Nation: US sues in bid to break up Ticketmaster owner,https://www.bbc.co.uk/news/articles/cv22k054z5zo,2024-05-23T02:41:28.350Z,"US regulators have sued Live Nation, accusing the entertainment giant of using illegal tactics to maintain a monopoly over the live music industry. The lawsuit from the Department of Justice said the firm's practices had kept out competitors, and led to higher ticket prices and worse service for customers. Attorney General Merrick Garland called on the courts to break up the company. Live Nation said in a statement on its website that claims that it wielded monopoly power were ""absurd"". It said the lawsuit ""ignores everything that is actually responsible for higher ticket prices"" citing online ticket scalping, artist popularity and higher production costs.  Along with its subsidiary, Ticketmaster, Live Nation puts on concerts, sells tickets and owns venues, serving multiple roles that the Department of Justice said had turned it into a ""gatekeeper"" for the industry.  It owns more than 250 venues in the US and manages about 60% of concert promotions at major venues nationwide, according to the lawsuit, which was brought by the federal government's Department of Justice, as well as 30 states.  The company also controls approximately 80% of all major entertainment ticket sales via Ticketmaster, the lawsuit said. It said the company had maintained its position by using exclusive long-term deals, threatening venues that used rival ticketing firms, acquiring potential competitors, tying use of its venues to its promotion services, and deploying other practices. Mr Garland said the result was that venues had fewer ""real choices"" of ticketing services and Ticketmaster could impose ""seemingly endless"" fees on fans.  He said the firm had also squeezed out smaller promoters and limited artists' opportunities to perform.  ""Live Nation controls the live entertainment industry in the United States because it is breaking the law,"" he said at a press conference announcing the lawsuit. ""It is time to break it up,"" he added. Live Nation said the lawsuit reflected political pressures and a White House that had turned over competition enforcement ""to a populist urge that simply rejects how antitrust law works"". ""Some call this “Anti-Monopoly”, but in reality it is just anti-business,"" it said. It said its share of the market had been shrinking and its profit margin of 1.4% was the ""opposite of monopoly power"". The lawsuit ""won't solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,"" the company said. ""We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists."" Live Nation was created by the merger in 2010 of US-based events promoter Live Nation and ticket sales and distribution company Ticketmaster.  Under the Obama administration, the US approved the deal despite concerns that it would create a giant capable of dominating the live entertainment industry. But the company has faced years of criticism from fans, lawmakers, artists and competitors that it wielded too much influence over live entertainment events in the US and around the world. In 2022, website failures that many Taylor Swift fans encountered when they tried to buy tickets for her US tour, focused attention on the issue.  John Breyault of the National Consumers League, who has been calling for action over Ticketmaster and Live Nation for years, said regulators had made a ""bad bet"" in 2010 and the lawsuit was long overdue.  He said it was ""unknowable"" if a break-up of the company would help reduce prices for the public. But he said he would expect to see more choice of ticketing services, and a less frustrating process for people trying to buy in-demand shows if the government is successful in court. ""Anybody who tried to go buy tickets to go see Taylor Swift can tell you that the experience is pretty terrible,"" he said.  Now, he said, ""consumers have nowhere else to go so there's no downside for the company. I think that will change if this lawsuit is successful,"" he said.  ",BBC,23/05/2024,"['US regulators have sued Live Nation, accusing the entertainment giant of using illegal tactics to maintain a monopoly over the live music industry.', ""The lawsuit from the Department of Justice said the firm's practices had kept out competitors, and led to higher ticket prices and worse service for customers."", 'Attorney General Merrick Garland called on the courts to break up the company.', 'Live Nation said in a statement on its website that claims that it wielded monopoly power were ""absurd"".', 'It said the lawsuit ""ignores everything that is actually responsible for higher ticket prices"" citing online ticket scalping, artist popularity and higher production costs.', 'Along with its subsidiary, Ticketmaster, Live Nation puts on concerts, sells tickets and owns venues, serving multiple roles that the Department of Justice said had turned it into a ""gatekeeper"" for the industry.', ""It owns more than 250 venues in the US and manages about 60% of concert promotions at major venues nationwide, according to the lawsuit, which was brought by the federal government's Department of Justice, as well as 30 states."", 'The company also controls approximately 80% of all major entertainment ticket sales via Ticketmaster, the lawsuit said.', 'It said the company had maintained its position by using exclusive long-term deals, threatening venues that used rival ticketing firms, acquiring potential competitors, tying use of its venues to its promotion services, and deploying other practices.', 'Mr Garland said the result was that venues had fewer ""real choices"" of ticketing services and Ticketmaster could impose ""seemingly endless"" fees on fans.', 'He said the firm had also squeezed out smaller promoters and limited artists\' opportunities to perform. ""', 'Live Nation controls the live entertainment industry in the United States because it is breaking the law,"" he said at a press conference announcing the lawsuit. ""', 'It is time to break it up,"" he added.', 'Live Nation said the lawsuit reflected political pressures and a White House that had turned over competition enforcement ""to a populist urge that simply rejects how antitrust law works"". ""', 'Some call this “Anti-Monopoly”, but in reality it is just anti-business,"" it said.', 'It said its share of the market had been shrinking and its profit margin of 1.4% was the ""opposite of monopoly power"".', 'The lawsuit ""won\'t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,"" the company said. ""', 'We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.""', 'Live Nation was created by the merger in 2010 of US-based events promoter Live Nation and ticket sales and distribution company Ticketmaster.', 'Under the Obama administration, the US approved the deal despite concerns that it would create a giant capable of dominating the live entertainment industry.', 'But the company has faced years of criticism from fans, lawmakers, artists and competitors that it wielded too much influence over live entertainment events in the US and around the world.', 'In 2022, website failures that many Taylor Swift fans encountered when they tried to buy tickets for her US tour, focused attention on the issue.', 'John Breyault of the National Consumers League, who has been calling for action over Ticketmaster and Live Nation for years, said regulators had made a ""bad bet"" in 2010 and the lawsuit was long overdue.', 'He said it was ""unknowable"" if a break-up of the company would help reduce prices for the public.', 'But he said he would expect to see more choice of ticketing services, and a less frustrating process for people trying to buy in-demand shows if the government is successful in court. ""', 'Anybody who tried to go buy tickets to go see Taylor Swift can tell you that the experience is pretty terrible,"" he said.', 'Now, he said, ""consumers have nowhere else to go so there\'s no downside for the company.', 'I think that will change if this lawsuit is successful,"" he said.']",0.1059122740630208,"We will defend against these baseless allegations, use this opportunity to shed light on the industry, and continue to push for reforms that truly protect consumers and artists.""","Live Nation said the lawsuit reflected political pressures and a White House that had turned over competition enforcement ""to a populist urge that simply rejects how antitrust law works"". """,-0.435736076037089,"But he said he would expect to see more choice of ticketing services, and a less frustrating process for people trying to buy in-demand shows if the government is successful in court. ""","It said its share of the market had been shrinking and its profit margin of 1.4% was the ""opposite of monopoly power"".",2024-05-23
+Taylor Swift and Olympics ticket scams fuel 2024 fraud,https://www.bbc.co.uk/news/articles/clww3pwz4r1o,2024-05-22T00:15:39.820Z,"Fake Olympics and Taylor Swift tickets are the two biggest online scams consumers are likely to encounter this year, UK Finance has warned. The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year. Overall, criminals stole £1.17bn in 2023, down 4% from 2022, according to the group's annual report on fraud. But UK Finance said the abuse of online platforms continued to leave people vulnerable. It called on tech companies to do more to help stop the scams. Consumers lost £86m last year to purchase scams, in which they agreed to pay for something that never materialised, UK Finance said.  That was up 28% from 2022. In total, there were more than 156,000 cases of such fraud last year.  “Every year we see a cycle of scams changing throughout the year,"" said Ben Donaldson, the managing director of economic crime at UK Finance. ""Olympics and Taylor Swift are the two biggest examples of this year."" In April, Lloyds Bank revealed that Swift's fans had lost a total of £1m in scam ticket sales ahead of the UK leg of her tour, which starts in July. Over 600 of the bank's customers came forward to report losing money. UK Finance said fraudsters often convinced victims to pay for goods via bank transfer instead of on an official site.  “Tickets for big events such as the Olympics, Euro 2024, Glastonbury or Taylor Swift sell out quickly and people often look online for better offers to avoid missing out.  ""Criminals will use this as an opportunity to try and trick you into purchasing tickets that are either fraudulent or don’t exist, "" UK Finance's Andy Donald warned. The annual report from UK Finance found some progress in the fight against fraud, which is the most common crime in the UK and increased during the pandemic.   It said the total number of cases dipped 1% from 2022, to roughly 2.97 million, with fraud involving payment cards accounting for the vast majority. The report found losses due to unauthorised transactions fell 3% to £708.7m last year, a drop it said was due to improved customer verification practices.  UK Finance said there was also less money lost to scams in which payments were authorised. Such losses declined 5% to £459.7m, as cases involving criminals pretending to be a bank or police dropped sharply. However, the number of victims and money stolen in romance scams, in which people are tricked into believing they are in a relationship, hit a record last year, according to the report.  Losses in these cases were up 17% to £36m and involved an average of 10 payments per case. This loss is twice the amount reported for the same type of scams in 2020. ""The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime,"" Mr Donaldson said. New regulations are set to come into force on 7 October this year, which will mean UK payment service providers must reimburse customers who fall victim to payment fraud. But there are some exceptions to this rule. UK Finance said the change added urgency to the fight against fraud.  ""With reimbursement rules set to change, we risk even more money getting into criminal hands, unless the technology and telecommunication sectors take [proper] action to stop the fraud that proliferates on their platforms and networks,"" Mr Donaldson said.  ",BBC,22/05/2024,"['Fake Olympics and Taylor Swift tickets are the two biggest online scams consumers are likely to encounter this year, UK Finance has warned.', 'The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year.', ""Overall, criminals stole £1.17bn in 2023, down 4% from 2022, according to the group's annual report on fraud."", 'But UK Finance said the abuse of online platforms continued to leave people vulnerable.', 'It called on tech companies to do more to help stop the scams.', 'Consumers lost £86m last year to purchase scams, in which they agreed to pay for something that never materialised, UK Finance said.', 'That was up 28% from 2022.', 'In total, there were more than 156,000 cases of such fraud last year. “', 'Every year we see a cycle of scams changing throughout the year,"" said Ben Donaldson, the managing director of economic crime at UK Finance. ""', 'Olympics and Taylor Swift are the two biggest examples of this year.""', ""In April, Lloyds Bank revealed that Swift's fans had lost a total of £1m in scam ticket sales ahead of the UK leg of her tour, which starts in July."", ""Over 600 of the bank's customers came forward to report losing money."", 'UK Finance said fraudsters often convinced victims to pay for goods via bank transfer instead of on an official site. “', 'Tickets for big events such as the Olympics, Euro 2024, Glastonbury or Taylor Swift sell out quickly and people often look online for better offers to avoid missing out. ""', 'Criminals will use this as an opportunity to try and trick you into purchasing tickets that are either fraudulent or don’t exist, "" UK Finance\'s Andy Donald warned.', 'The annual report from UK Finance found some progress in the fight against fraud, which is the most common crime in the UK and increased during the pandemic.', 'It said the total number of cases dipped 1% from 2022, to roughly 2.97 million, with fraud involving payment cards accounting for the vast majority.', 'The report found losses due to unauthorised transactions fell 3% to £708.7m last year, a drop it said was due to improved customer verification practices.', 'UK Finance said there was also less money lost to scams in which payments were authorised.', 'Such losses declined 5% to £459.7m, as cases involving criminals pretending to be a bank or police dropped sharply.', 'However, the number of victims and money stolen in romance scams, in which people are tricked into believing they are in a relationship, hit a record last year, according to the report.', 'Losses in these cases were up 17% to £36m and involved an average of 10 payments per case.', 'This loss is twice the amount reported for the same type of scams in 2020. ""', 'The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime,"" Mr Donaldson said.', 'New regulations are set to come into force on 7 October this year, which will mean UK payment service providers must reimburse customers who fall victim to payment fraud.', 'But there are some exceptions to this rule.', 'UK Finance said the change added urgency to the fight against fraud. ""', 'With reimbursement rules set to change, we risk even more money getting into criminal hands, unless the technology and telecommunication sectors take [proper] action to stop the fraud that proliferates on their platforms and networks,"" Mr Donaldson said.']",-0.5588016656732996,"Olympics and Taylor Swift are the two biggest examples of this year.""","The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime,"" Mr Donaldson said.",0.0037071198225021,The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year.,"Overall, criminals stole £1.17bn in 2023, down 4% from 2022, according to the group's annual report on fraud.",2024-05-23
+Why OpenAI should fear a Scarlett Johansson lawsuit,https://edition.cnn.com/2024/05/22/tech/openai-scarlett-johansson-lawsuit-sam-altman/index.html,"
+  Updated
+        11:38 AM EDT, Wed May 22, 2024
+    ","Will Scarlett Johansson sue OpenAI for creating a voice assistant that sounds like the actor’s performance in the 2013 film “Her,” about a man who falls in love with an artificial intelligence?
+    
+            That’s how things could go after Johansson said OpenAI tried to hire her to voice an AI assistant for ChatGPT and, when she refused, forged ahead with a sound-alike voice. OpenAI’s co-founder and CEO, Sam Altman, could be directly in the crosshairs of such a lawsuit.
+    
+            Now, legal experts say Johansson may have a powerful and credible claim in court if she does decide to sue, pointing to a long string of past cases that could lead to significant damages for one of the world’s leading AI companies and raise questions about the industry’s readiness to deal with AI’s many messy complications.
+    
+            That OpenAI was apparently unaware of that legal history, or at worst willfully ignorant of it, highlights what some critics say is a lack of industry oversight in AI and a need for greater protections for creators.
+    
+            OpenAI didn’t immediately respond to a request for comment.
+    
+            There are two types of law that could potentially be involved here, according to legal experts, but only one is likely to come into play based on the currently known facts.
+    
+            The first is copyright law. If OpenAI had directly sampled Johansson’s films or other published works to create Sky, the flirty voice assistant demoed in an update to ChatGPT, then OpenAI might face a copyright problem if the company didn’t obtain permission beforehand.
+    
+            That doesn’t appear to be the case, at least based on OpenAI’s past statements. The company claims not to have used Johansson’s actual voice, the company said in a blog post Sunday, but rather “a different professional actress using her own natural speaking voice.”
+    
+            While that might be enough to deflect a copyright claim, it almost certainly wouldn’t insulate OpenAI from the second type of law at issue, according to Tiffany Li, a law professor focused on intellectual property and technology at the University of San Francisco.
+    
+            “It doesn’t matter if OpenAI used any of Scarlett Johansson’s actual voice samples,” Li posted on Threads. “She still has a viable right of publicity case here.”
+    
+            Multiple states have right-of-publicity laws that protect individuals’ likenesses from being stolen or misused, and California’s — where Hollywood and OpenAI are based — is among the strongest.
+    
+            The California law prohibits the unauthorized use of anyone’s “name, voice, signature, photograph, or likeness” for the purposes of “advertising or selling, or soliciting purchases of, products, merchandise, goods or services.”
+    
+            Unlike a copyright claim, which is about intellectual property, a right-of-publicity claim is more about the unauthorized use of a person’s identity or public persona for profit. Here, Johansson could accuse OpenAI of illegally monetizing who she is by essentially fooling users into thinking she had voiced Sky.
+    
+            One defense OpenAI could mount is that its now-viral videos showcasing Sky’s capabilities weren’t technically made as advertisements or meant to drive purchases, said John Bergmayer, legal director at Public Knowledge, a consumer advocacy group. But, he added, it could be a rather thin argument.
+    
+            “I believe use in a highly hyped promo video or presentation easily meets that test,” he said.
+    
+            In addition to saying it never used Johansson’s actual voice and that its videos weren’t advertisements, OpenAI could also say it never intended to precisely mimic Johansson. But there’s substantial case law — and one very inconvenient fact for OpenAI — undercutting that defense, legal experts say.
+    
+            There are roughly a half-dozen cases in this space that show how OpenAI may land in hot water. Here are two of the biggest ones.
+    
+            In 1988, the singer Bette Midler won a lawsuit against Ford Motor Company over an advertisement featuring what sounded like her voice. In fact, the song in the ad had been recorded by one of Midler’s backup singers after Midler turned down the opportunity to record the ad. The similarities between the reproduction and the original were so striking that some people told Midler they believed she had performed in the commercial.
+    
+            The US Court of Appeals for the 9th Circuit ruled in Midler’s favor.
+    
+            “Why did the defendants ask Midler to sing if her voice was not of value to them?” the court wrote in its decision. “Why did they studiously acquire the services of a sound-alike and instruct her to imitate Midler if Midler’s voice was not of value to them? What they sought was an attribute of Midler’s identity. Its value was what the market would have paid for Midler to have sung the commercial in person.”
+    
+            In a similar case decided by the 9th Circuit in 1992, the singer Tom Waits won $2.6 million in damages against the snack food maker Frito-Lay over a Doritos ad that featured an imitation of Waits’ signature raspy voice. The court in that case doubled down on its decision in Midler, further enshrining the idea that California’s right of publicity law protects a person’s voice.
+    
+            The situation involving Johansson and OpenAI bears a remarkable resemblance to these prior cases. According to Johansson, OpenAI approached her to perform as Sky; Johansson declined. Then, months later, OpenAI released a version of Sky that was widely compared to Johansson, to the point that Johansson said her “closest friends … could not tell the difference.”
+    
+            Whether OpenAI can survive a potential publicity rights claim may hinge on intent — that is, whether the company can prove it did not set out to imitate Johansson’s voice, said James Grimmelmann, a law professor at Cornell University.
+    
+            In its Sunday blog post, OpenAI said that Sky was “not an imitation of Scarlett Johansson” but that with each of its AI voices, the company’s goal was simply to create “an approachable voice that inspires trust,” one that contains a “rich tone” and is “natural and easy to listen to.”
+    
+            On Monday evening, Altman responded to Johansson’s statement with one of his own, claiming that the company “cast the voice actor behind Sky’s voice before any outreach to Ms. Johansson” and apologizing for not communicating better.
+    
+            But OpenAI may have already undermined itself.
+    
+            “OpenAI might have had a plausible case if they hadn’t spent the last two weeks hinting to everyone that they had just created Samantha from ‘Her,’” Grimmelmann said, referring to Johansson’s character from the 2013 film. “There was widespread public recognition that Sky was Samantha, and intentionally so.”
+    
+            The widespread parallels users were drawing with Johansson were reinforced when Altman posted to X on the day of the product’s announcement: “her.” Johansson’s statement said Altman used this post to insinuate “the similarity was intentional.” As recently as last fall, Altman was telling audiences that “Her” was not only “incredibly prophetic” but also his own favorite science-fiction film.
+    
+            Taken together, those facts suggest OpenAI may have wanted users to implicitly associate Sky with Johansson in ways that California’s law is interpreted to prevent.
+    
+            Altman’s post was “incredibly unwise,” Bergmayer said. “Given the facts here — the negotiations, the tweet — even if OpenAI was using an actress who just happens to sound like Johansson, I think there’s still a strong chance they’d be liable.”
+    
+            The situation involving Johansson is a high-profile example of what can go wrong in the age of deepfakes and AI. While California’s publicity law protects all individuals, some state statutes only protect famous people, and not all states have such legislation on the books.
+    
+            What’s more, those existing laws may protect a person’s image or even voice but may not cover some of the things you can now do with AI, such as asking a model to recreate art “in the style” of a famous artist.
+    
+            “This situation does show why we need a federal right of publicity law, since not every case will conveniently involve California,” Bergmayer said.
+    
+            Some tech companies have gotten involved. Adobe, the maker of Photoshop, has pushed a proposal it is calling the FAIR Act to create a federal right against impersonation by AI. The company argues that while it is in the business of selling AI tools as part of its creative software, it has a vested interest in ensuring its customers can continue to reap the rewards of their own work.
+    
+            “The worry you have as a creator is that AI is going to displace their economic livelihood because it’s training on their work,” said Dana Rao, Adobe’s general counsel and chief trust officer. “That’s the existential angst that you’re feeling out there in the community. And what we’re saying at Adobe is that we’re always going to provide the world’s greatest technology to our creators [but that] we do believe in responsible innovation.”
+    
+            Some US lawmakers are working on proposals to address the issue. Last year, a bipartisan group of senators unveiled a discussion draft of the NO FAKES Act, a bill intended to protect creators. Another draft bill, in the House, is known as the No AI Fraud Act.
+    
+            But digital rights groups and academics have warned that the legislation is far from perfect, leaving gaping loopholes in some areas while also creating potential unintended consequences in others.
+    
+            Questions abound about protecting free expression, such as the ability for people to use others’ likenesses for educational or other non-commercial uses, as well as rights to a person’s image after death — important in the recreation of dead actors in movies or music, which could ultimately harm living performers, according to Jennifer Rothman, an intellectual property expert and law professor at the University of Pennsylvania.
+    
+            “This opens the door for record labels to cheaply create AI-generated performances, including by dead celebrities, and exploit this lucrative option over more costly performances by living humans,” Rothman wrote in a blog post in October on the NO FAKES Act.
+    
+            The debate over publicity rights in Congress is part of a much broader effort by lawmakers to wrestle with AI, one that isn’t likely to be resolved anytime soon — and reflecting the complexity of the issues at stake.",CNN,22/05/2024,"['Will Scarlett Johansson sue OpenAI for creating a voice assistant that sounds like the actor’s performance in the 2013 film “Her,” about a man who falls in love with an artificial intelligence?', 'That’s how things could go after Johansson said OpenAI tried to hire her to voice an AI assistant for ChatGPT and, when she refused, forged ahead with a sound-alike voice.', 'OpenAI’s co-founder and CEO, Sam Altman, could be directly in the crosshairs of such a lawsuit.', 'Now, legal experts say Johansson may have a powerful and credible claim in court if she does decide to sue, pointing to a long string of past cases that could lead to significant damages for one of the world’s leading AI companies and raise questions about the industry’s readiness to deal with AI’s many messy complications.', 'That OpenAI was apparently unaware of that legal history, or at worst willfully ignorant of it, highlights what some critics say is a lack of industry oversight in AI and a need for greater protections for creators.', 'OpenAI didn’t immediately respond to a request for comment.', 'There are two types of law that could potentially be involved here, according to legal experts, but only one is likely to come into play based on the currently known facts.', 'The first is copyright law.', 'If OpenAI had directly sampled Johansson’s films or other published works to create Sky, the flirty voice assistant demoed in an update to ChatGPT, then OpenAI might face a copyright problem if the company didn’t obtain permission beforehand.', 'That doesn’t appear to be the case, at least based on OpenAI’s past statements.', 'The company claims not to have used Johansson’s actual voice, the company said in a blog post Sunday, but rather “a different professional actress using her own natural speaking voice.”', 'While that might be enough to deflect a copyright claim, it almost certainly wouldn’t insulate OpenAI from the second type of law at issue, according to Tiffany Li, a law professor focused on intellectual property and technology at the University of San Francisco.', '“It doesn’t matter if OpenAI used any of Scarlett Johansson’s actual voice samples,” Li posted on Threads. “', 'She still has a viable right of publicity case here.”', 'Multiple states have right-of-publicity laws that protect individuals’ likenesses from being stolen or misused, and California’s — where Hollywood and OpenAI are based — is among the strongest.', 'The California law prohibits the unauthorized use of anyone’s “name, voice, signature, photograph, or likeness” for the purposes of “advertising or selling, or soliciting purchases of, products, merchandise, goods or services.”', 'Unlike a copyright claim, which is about intellectual property, a right-of-publicity claim is more about the unauthorized use of a person’s identity or public persona for profit.', 'Here, Johansson could accuse OpenAI of illegally monetizing who she is by essentially fooling users into thinking she had voiced Sky.', 'One defense OpenAI could mount is that its now-viral videos showcasing Sky’s capabilities weren’t technically made as advertisements or meant to drive purchases, said John Bergmayer, legal director at Public Knowledge, a consumer advocacy group.', 'But, he added, it could be a rather thin argument.', '“I believe use in a highly hyped promo video or presentation easily meets that test,” he said.', 'In addition to saying it never used Johansson’s actual voice and that its videos weren’t advertisements, OpenAI could also say it never intended to precisely mimic Johansson.', 'But there’s substantial case law — and one very inconvenient fact for OpenAI — undercutting that defense, legal experts say.', 'There are roughly a half-dozen cases in this space that show how OpenAI may land in hot water.', 'Here are two of the biggest ones.', 'In 1988, the singer Bette Midler won a lawsuit against Ford Motor Company over an advertisement featuring what sounded like her voice.', 'In fact, the song in the ad had been recorded by one of Midler’s backup singers after Midler turned down the opportunity to record the ad.', 'The similarities between the reproduction and the original were so striking that some people told Midler they believed she had performed in the commercial.', 'The US Court of Appeals for the 9th Circuit ruled in Midler’s favor.', '“Why did the defendants ask Midler to sing if her voice was not of value to them?”', 'the court wrote in its decision. “', 'Why did they studiously acquire the services of a sound-alike and instruct her to imitate Midler if Midler’s voice was not of value to them?', 'What they sought was an attribute of Midler’s identity.', 'Its value was what the market would have paid for Midler to have sung the commercial in person.”', 'In a similar case decided by the 9th Circuit in 1992, the singer Tom Waits won $2.6 million in damages against the snack food maker Frito-Lay over a Doritos ad that featured an imitation of Waits’ signature raspy voice.', 'The court in that case doubled down on its decision in Midler, further enshrining the idea that California’s right of publicity law protects a person’s voice.', 'The situation involving Johansson and OpenAI bears a remarkable resemblance to these prior cases.', 'According to Johansson, OpenAI approached her to perform as Sky; Johansson declined.', 'Then, months later, OpenAI released a version of Sky that was widely compared to Johansson, to the point that Johansson said her “closest friends … could not tell the difference.”', 'Whether OpenAI can survive a potential publicity rights claim may hinge on intent — that is, whether the company can prove it did not set out to imitate Johansson’s voice, said James Grimmelmann, a law professor at Cornell University.', 'In its Sunday blog post, OpenAI said that Sky was “not an imitation of Scarlett Johansson” but thatwith each of its AI voices, the company’s goal was simply to create “an approachable voice that inspires trust,” one that contains a “rich tone” and is “natural and easy to listen to.”', 'On Monday evening, Altman responded to Johansson’s statement with one of his own, claiming that the company “cast the voice actor behind Sky’s voice before any outreach to Ms. Johansson” and apologizing for not communicating better.', 'But OpenAI may have already undermined itself.', '“OpenAI might have had a plausible case if they hadn’t spent the last two weeks hinting to everyone that they had just created Samantha from ‘Her,’” Grimmelmann said, referring to Johansson’s character from the 2013 film. “', 'There was widespread public recognition that Sky was Samantha, and intentionally so.”', 'The widespread parallels users were drawing with Johansson were reinforced whenAltman posted to X on the day of the product’s announcement: “her.”', 'Johansson’s statement said Altman used this post to insinuate “the similarity was intentional.”', 'As recently as last fall, Altman was telling audiences that “Her” was not only “incredibly prophetic” but also his own favorite science-fiction film.', 'Taken together, those facts suggest OpenAI may have wanted users to implicitly associate Sky with Johansson in ways that California’s law is interpreted to prevent.', 'Altman’s post was “incredibly unwise,” Bergmayer said. “', 'Given the facts here — the negotiations, the tweet — even if OpenAI was using an actress who just happens to sound like Johansson, I think there’s still a strong chance they’d be liable.”', 'The situation involving Johansson is a high-profile example of what can go wrong in the age of deepfakes and AI.', 'While California’s publicity law protects all individuals, some state statutes only protect famous people, and not all states have such legislation on the books.', 'What’s more, those existing laws may protect a person’s image or even voice but may not cover some of the things you can now do with AI, such as asking a model to recreate art “in the style” of a famous artist.', '“This situation does show why we need a federal right of publicity law, since not every case will conveniently involve California,” Bergmayer said.', 'Some tech companies have gotten involved.', 'Adobe, the maker of Photoshop, has pushed a proposal it is calling the FAIR Act to create a federal right against impersonation by AI.', 'The company argues that while it is in the business of selling AI tools as part of its creative software, it has a vested interest in ensuring its customers can continue to reap the rewards of their own work.', '“The worry you have as a creator is that AI is going to displace their economic livelihood because it’s training on their work,” said Dana Rao, Adobe’s general counsel and chief trust officer. “', 'That’s the existential angst that you’re feeling out there in the community.', 'And what we’re saying at Adobe is that we’re always going to provide the world’s greatest technology to our creators [but that] we do believe in responsible innovation.”', 'Some US lawmakers are working on proposals to address the issue.', 'Last year, a bipartisan group of senators unveiled a discussion draft of the NO FAKES Act, a bill intended to protect creators.', 'Another draft bill, in the House, is known as the No AI Fraud Act.', 'But digital rights groups and academics have warned that the legislation is far from perfect, leaving gaping loopholes in some areas while also creating potential unintended consequences in others.', 'Questions abound about protecting free expression, such as the ability for people to use others’ likenesses for educational or other non-commercial uses, as well as rights to a person’s image after death — important in the recreation of dead actors in movies or music, which could ultimately harm living performers, according to Jennifer Rothman, an intellectual property expert and law professor at the University of Pennsylvania.', '“This opens the door for record labels to cheaply create AI-generated performances, including by dead celebrities, and exploit this lucrative option over more costly performances by living humans,” Rothman wrote in a blog post in October on the NO FAKES Act.', 'The debate over publicity rights in Congress is part of a much broader effort by lawmakers to wrestle with AI, one that isn’t likely to be resolved anytime soon — and reflecting the complexity of the issues at stake.']",0.1309856754139834,"In its Sunday blog post, OpenAI said that Sky was “not an imitation of Scarlett Johansson” but thatwith each of its AI voices, the company’s goal was simply to create “an approachable voice that inspires trust,” one that contains a “rich tone” and is “natural and easy to listen to.”","“This opens the door for record labels to cheaply create AI-generated performances, including by dead celebrities, and exploit this lucrative option over more costly performances by living humans,” Rothman wrote in a blog post in October on the NO FAKES Act.",-0.0251611024141311,"“This opens the door for record labels to cheaply create AI-generated performances, including by dead celebrities, and exploit this lucrative option over more costly performances by living humans,” Rothman wrote in a blog post in October on the NO FAKES Act.",But OpenAI may have already undermined itself.,2024-05-22
+Apple offers biggest-ever iPhone discounts in China as annual ‘618’ shopping festival begins,https://edition.cnn.com/2024/05/22/business/apple-china-price-cuts-618-festival/index.html,"
+  Published
+        6:11 AM EDT, Wed May 22, 2024
+    ","Apple is offering unprecedented price cuts in China as big brands and retailers launch promotions for the annual “618” shopping festival in the face of sluggish consumer demand.
+    
+            The hefty discounts by the iPhone maker come at a time when it is battling stiff competition from Chinese smartphone manufacturers, such as Huawei and Vivo, and declining market share in the world’s second largest economy.
+    
+            On Monday, Apple said it would slash prices of some of its smartphones on Tmall — an Amazon-like site owned by Alibaba — by as much 23% till May 28.
+    
+            Customers can now get an iPhone 15 for 4,599 yuan ($639), down 1,400 yuan ($194) from the original price, according to promotions on Apple’s official store on Tmall.
+    
+            Apple is hoping to boost its sales during China’s second biggest online shopping bonanza of the year, which usually runs from late May to mid-June. The company did not respond to a request for comment.
+    
+            Launched by e-commerce firm JD.com in 2008, “618” is beaten only by Singles Day, which was created by Alibaba in 2009.
+    
+            Today, both festivals eclipse Black Friday and Cyber Monday in terms of total sales, and all major Chinese e-commerce sites and many brick-and-mortar retailers offer weeks of promotions across their platforms to lure customers. Stars often get in on the act, too.
+    
+            Rihanna appeared in Shanghai Tuesday, making a popular Chinese breakfast crepe and hosting livestream sessions showcasing her Fenty Beauty products on Douyin, the Chinese version of TikTok.
+    
+            While Apple has been slashing prices of its iPhone 15 models and iPads sold in China since October, the discounts this month are the biggest the company has ever offered in its biggest overseas market, according to Chinese state media.
+    
+            “Apple needs to aggressively defend market share [in China],” said Jefferies analysts in a note on Tuesday.
+    
+            Apple’s China market share slid to 15.7% in the first quarter of this year, compared to 19.7% a year earlier, according to data compiled by Counterpoint Research. Huawei, meanwhile, saw sales surge 70%, closing in its gap with Apple.
+    
+            After Monday’s price reductions, Apple’s iPhone 15 is now in the same price range as smartphones made by Xiaomi and Huawei.
+    
+            Smartphone makers aren’t the only companies waging a price war in China.
+    
+            Almost every sector, from food and clothing to consumer electronics and cars, is offering big discounts reflecting a dramatic shift in consumption patterns in the country.
+    
+            The 618 shopping festival, a key barometer of consumption in the country, has seen growing competition by e-commerce sites and retailing brands to offer discounts.
+    
+            But the price cutting has become so brutal that some companies are boycotting the event.
+    
+            More than 50 book issued joint statements on Monday, saying that they would not participate in the this year’s shopping festival because of aggressive pricing policies that required them to offer discounts of 20% to 30% on JD.com.
+    
+            One statement, issued by 10 publishing houses in Beijing, said the boycott was a necessary move to “maintain the stability and prosperity” of the book publishing market.
+    
+            The other statement, published by 46 companies in Shanghai, said they were against “disorderly” competition in the market.
+    
+            Even major state-owned publishing companies voiced opposition to “chaotic” price wars.
+    
+            “We hope there will be a wider resistance to the chaos of discounting, or more effective control,” a subsidiary of Shanghai Century Publishing said Monday on its official account on Xiaohongshu, the country’s Instagram-like social platform.",CNN,22/05/2024,"['Apple is offering unprecedented price cuts in China as big brands and retailers launch promotions for the annual “618” shopping festival in the face of sluggish consumer demand.', 'The hefty discounts by the iPhone maker come at a time when it is battling stiff competition from Chinese smartphone manufacturers, such as Huawei and Vivo, and declining market share in the world’s second largest economy.', 'On Monday, Apple said it would slash prices of some of its smartphones on Tmall — an Amazon-like site owned by Alibaba — by as much 23% till May 28.', 'Customers can now get an iPhone 15 for 4,599 yuan ($639), down 1,400 yuan ($194) from the original price, according to promotions on Apple’s official store on Tmall.', 'Apple is hoping to boost its sales during China’s second biggest online shopping bonanza of the year, which usually runs from late May to mid-June.', 'The company did not respond to a request for comment.', 'Launched by e-commerce firm JD.com in 2008, “618” is beaten only by Singles Day, which was created by Alibaba in 2009.', 'Today, both festivals eclipseBlack FridayandCyber Monday in terms of total sales, and all major Chinese e-commerce sites and many brick-and-mortar retailers offer weeks of promotions across their platforms to lure customers.', 'Stars often get in on the act, too.', 'Rihanna appeared in Shanghai Tuesday, making a popular Chinese breakfast crepe and hosting livestream sessions showcasing her Fenty Beauty products on Douyin, the Chinese version of TikTok.', 'While Apple has been slashing prices of its iPhone 15 models and iPads sold in China since October, the discounts this month are the biggest the company has ever offered in its biggest overseas market, according to Chinese state media.', '“Apple needs to aggressively defend market share [in China],” said Jefferies analysts in a note on Tuesday.', 'Apple’s China market share slid to 15.7% in the first quarter of this year, compared to 19.7% a year earlier, according to data compiled by Counterpoint Research.', 'Huawei, meanwhile, saw sales surge 70%, closing in its gap with Apple.', 'After Monday’s price reductions, Apple’s iPhone 15 is now in the same price range as smartphones made by Xiaomi and Huawei.', 'Smartphone makers aren’t the only companies waging a price war in China.', 'Almost every sector, from food and clothing to consumer electronics and cars, is offering big discounts reflecting a dramatic shift in consumption patterns in the country.', 'The 618 shopping festival, a key barometer of consumption in the country, has seen growing competition by e-commerce sites and retailing brands to offer discounts.', 'But the price cutting has become so brutal that some companies are boycotting the event.', 'More than 50 book issued joint statements on Monday, saying that they would not participate in the this year’s shopping festival because of aggressive pricing policies that required them to offer discounts of 20% to 30% on JD.com.', 'One statement, issued by 10 publishing houses in Beijing, said the boycott was a necessary move to “maintain the stability and prosperity” of the book publishing market.', 'The other statement, published by 46 companies in Shanghai, said they were against “disorderly” competition in the market.', 'Even major state-owned publishing companies voiced opposition to “chaotic” price wars.', '“We hope there will be a wider resistance to the chaos of discounting, or more effective control,” a subsidiary of Shanghai Century Publishing said Monday on its official account on Xiaohongshu, the country’s Instagram-like social platform.']",0.0432938409268702,"Rihanna appeared in Shanghai Tuesday, making a popular Chinese breakfast crepe and hosting livestream sessions showcasing her Fenty Beauty products on Douyin, the Chinese version of TikTok.",But the price cutting has become so brutal that some companies are boycotting the event.,0.3090585505261141,"Huawei, meanwhile, saw sales surge 70%, closing in its gap with Apple.","Apple’s China market share slid to 15.7% in the first quarter of this year, compared to 19.7% a year earlier, according to data compiled by Counterpoint Research.",2024-05-22
+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.",,2024-05-22
+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.”",2024-05-22
+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.,,2024-05-22
+From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?,https://edition.cnn.com/2024/05/18/business/price-gouging-explained/index.html,"
+  Published
+        4:00 AM EDT, Sat May 18, 2024
+    ","Emily Miller lucked out. Of the millions of fans — and bots — flooding Ticketmaster’s site in hopes of purchasing tickets to Taylor Swift’s Eras Tour, the 22-year-old managed to score $200 floor seats to see the mega pop star perform in Pittsburgh last summer.
+    
+            Now, Miller dreams of seeing Swift perform again when her tour returns to the US later this year. But despite entering 10 accounts to get a code that would give her the chance to buy tickets at face value through Ticketmaster’s presale, she was unsuccessful. On the resale market, nosebleed-seat tickets behind the stage are already listed for thousands of dollars.
+    
+            “People are taking advantage of fans and their vulnerability because people like me who have been fans of Taylor for so, so long would do genuinely anything just to be inside that stadium,” Miller, who is currently in an accelerated nursing degree program in Cleveland, told CNN.
+    
+            The resellers are price gouging the fans, she said.
+    
+            The term has been used a lot lately to describe so much more than just hiking gasoline prices during a hurricane. At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited. But it’s not as cut and dry as you may think. In fact, economists — and even President Joe Biden — can’t agree on a definition of it.
+    
+            But there’s one thing everyone agrees on: Just about everything costs more than it used to a few years ago, a consequence of inflation. Although the pace of price increases has cooled substantially, we’re still paying more.
+    
+            It doesn’t help that prices can rise in seconds thanks to technology, unlike times when hikes would require, for instance, printing new menus.
+    
+            Consumers are taking to social media more to draw attention to times they feel like they are being ripped off. When, in effect, they may more likely be victims of inflation — or good old supply and demand.
+    
+            Gavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is.
+    
+            Biden has been quite vocal about cracking down on price gouging, which he uses interchangeably with “corporate greed,” both of which he claims are a contributing factor to inflation.
+    
+            At the same time, Biden hasn’t defined what price gouging is and what it isn’t.
+    
+            Biden takes particular issue with instances where the cost of producing a good has gone down while the price consumers pay goes up, a White House official told CNN. But he doesn’t believe that price gouging is driving inflation or that all corporations are price gouging consumers.
+    
+            Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts.
+    
+            In Roberts’ view, price gouging occurs when there’s a scarcity of a good or service, lack of competition and the consumer has very little information about the price they’ll be charged or doesn’t have the ability to shop around for better prices. All that could lead them to be taken advantage of.
+    
+            The best example of this, he said, would be someone going to the emergency room in dire need of care and months later receiving a bill for thousands of dollars.
+    
+            It wouldn’t, in his view, be price gouging if a situation arose during which someone had the only attainable bottle of water and auctioned it off to a crowd of people for the highest possible price. That’s because people had upfront information about how the price was set, he said.
+    
+            Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.
+    
+            “I define it as the use of market power to secure a higher price than what would occur with free competition,” he said. “For example, Martin Shkreli was a price gouger when he set ridiculously high prices on some pharmaceutical drugs his company controlled.”
+    
+            When Shkreli was CEO of the company formerly known as Turing Pharmaceuticals, the price of the lifesaving drug Daraprim used by AIDS patients was raised from $13.50 a pill to $750 a pill, in 2015, sparking a public outcry. CNN reached out to Shkreli, who was later convicted of securities fraud and conspiracy, over LinkedIn.
+    
+            Shkreli responded to CNN in a message on LinkedIn: “we dont talk to snitches.”
+    
+            Waiting to order an Uber until you make your way to the lobby of a building could cost you 20% more than the price you saw when you first opened the app.
+    
+            That’s the essence of the Uber business model, a practice known as dynamic pricing where there is no fixed rate for how much your ride will cost. Rather, it is tied to the supply of drivers in a given area and the demand for rides.
+    
+            Uber, like its main competitor Lyft, has come under scrutiny for allowing prices to surge at times when public transit is severely disrupted. In some instances, the companies suspended surge pricing temporarily. (Neither company responded to requests for comment.)
+    
+            Surge pricing was in full effect, though, on New Year’s Eve of 2011 when Uber experienced what was then its highest demand in New York City, causing rides to spike above $100. That invited a slew of price gouging accusations.
+    
+            Travis Kalanick, the CEO at the time, later penned a blog post noting, “Nobody is required to take an Uber, but having a reliable option is what we’re shooting for. It’s not about gouging.”
+    
+            Suranovic said surge pricing can simply be a product of “a competitive market.” But he acknowledged that sudden price increases are more likely to lead consumers to believe they’re being price gouged and “blame business for profiteering.”
+    
+            “Higher costs due to inflation is a cause of gradual price increases, but I wouldn’t consider that gouging,” he told CNN.
+    
+            Experts in pricing strategy warn that surprise increases can generate a backlash.
+    
+            “Price gouging is a subjective emotion of a consumer feeling that they are being taken advantage of by an unfairly high price,” said Rafi Mohammed, who founded a pricing strategy consultancy firm called Culture of Profit.
+    
+            “When setting a price, managers need to understand and anticipate that their prices will elicit emotional reactions ranging from ‘that’s cheap’ to ‘this is unfair.’”
+    
+            To avoid that, his philosophy has been to set prices in a manner that could elicit a response from customers along the lines of “Thank you! I looked around at various offerings and determined that your product and price offered me the best value.”
+    
+            That said, if you do believe you’re being price gouged, your state may be able to step in — as many did during the pandemic, even for goods like toilet paper, by capping prices. (Though Roberts’ research suggests some anti-price gouging laws are to blame if you couldn’t find toilet paper.)
+    
+            Still, Teresa Murray, director of the consumer watchdog division of US PIRG, a nonprofit consumer advocacy research group, wrote in a blog post that “if you aren’t sure whether a product is priced too high, it’s better to report problematic items to the company and your attorney general.”
+    
+            Perhaps state attorneys general should consider a special division dedicated to Swifties, too.",CNN,18/05/2024,"['Emily Miller lucked out.', 'Of the millions of fans — and bots — flooding Ticketmaster’s site in hopes of purchasing tickets to Taylor Swift’s Eras Tour, the 22-year-old managed to score $200 floor seats to see the mega pop star perform in Pittsburgh last summer.', 'Now, Miller dreams of seeing Swift perform again when her tour returns to the US later this year.', 'But despite entering 10 accounts to get a code that would give her the chance to buy tickets at face value through Ticketmaster’s presale, she was unsuccessful.', 'On the resale market, nosebleed-seat tickets behind the stage are already listed for thousands of dollars.', '“People are taking advantage of fans and their vulnerability because people like me who have been fans of Taylor for so, so long would do genuinely anything just to be inside that stadium,” Miller, who is currently in an accelerated nursing degree program in Cleveland, told CNN.', 'The resellers are price gouging the fans, she said.', 'The term has been used a lot lately to describe so much more than just hiking gasoline prices during a hurricane.', 'At the core of the increasingly common accusation of price gouging is the sense that the consumer is being exploited.', 'But it’s not as cut and dry as you may think.', 'In fact, economists — and even President Joe Biden — can’t agree on a definition of it.', 'But there’s one thing everyone agrees on: Just about everything costs more than it used to a few years ago, a consequence of inflation.', 'Although the pace of price increases has cooled substantially, we’re still paying more.', 'It doesn’t help that prices can rise in seconds thanks to technology, unlike times when hikes would require, for instance, printing new menus.', 'Consumers are taking to social media more to draw attention to times they feel like they are being ripped off.', 'When, in effect, they may more likely be victims of inflation — or good old supply and demand.', 'Gavin Roberts, chair of Weber State University’s economics department and who studies the effect of anti-price gouging laws, said the laws themselves often don’t define what price gouging is.', 'Biden has been quite vocal about cracking down on price gouging, which he uses interchangeably with “corporate greed,” both of which he claims are a contributing factor to inflation.', 'At the same time, Biden hasn’t defined what price gouging is and what it isn’t.', 'Biden takes particular issue with instances where the cost of producing a good has gone down while the price consumers pay goes up, a White House official told CNN.', 'But he doesn’t believe that price gouging is driving inflation or that all corporations are price gouging consumers.', 'Corporations charging as much as they can, as painful as it may be for consumers, doesn’t mean they’re necessarily price gouging, said Roberts.', 'In Roberts’ view, price gouging occurs when there’s a scarcity of a good or service, lack of competition and the consumer has very little information about the price they’ll be charged or doesn’t have the ability to shop around for better prices.', 'All that could lead them to be taken advantage of.', 'The best example of this, he said, would be someone going to the emergency room in dire need of care and months later receiving a bill for thousands of dollars.', 'It wouldn’t, in his view, be price gouging if a situation arose during which someone had the only attainable bottle of water and auctioned it off to a crowd of people for the highest possible price.', 'That’s because people had upfront information about how the price was set, he said.', 'Steven Suranovic, an economics professor at George Washington University who has also published research on price gouging, sees it differently.', '“I define it as the use of market power to secure a higher price than what would occur with free competition,” he said. “', 'For example, Martin Shkreli was a price gouger when he set ridiculously high prices on some pharmaceutical drugs his company controlled.”', 'When Shkreli was CEO of the company formerly known as Turing Pharmaceuticals, the price of the lifesaving drug Daraprim used by AIDS patients was raised from $13.50 a pill to $750 a pill, in 2015, sparking a public outcry.', 'CNN reached out to Shkreli, who was later convicted of securities fraud and conspiracy, over LinkedIn.', 'Shkreli responded to CNN in a message on LinkedIn: “we dont talk to snitches.”', 'Waiting to order an Uber until you make your way to the lobby of a building could cost you 20% more than the price you saw when you first opened the app.', 'That’s the essence of the Uber business model, a practice known as dynamic pricing where there is no fixed rate for how much your ride will cost.', 'Rather, it is tied to the supply of drivers in a given area and the demand for rides.', 'Uber, like its main competitor Lyft, has come under scrutiny for allowing prices to surge at times when public transit is severely disrupted.', 'In some instances, the companies suspended surge pricing temporarily. (', 'Neither company responded to requests for comment.)', 'Surge pricing was in full effect, though, on New Year’s Eve of 2011 when Uber experienced what was then its highest demand in New York City, causing rides to spike above $100.', 'That invited a slew of price gouging accusations.', 'Travis Kalanick, the CEO at the time, later penned a blog post noting, “Nobody is required to take an Uber, but having a reliable option is what we’re shooting for.', 'It’s not about gouging.”', 'Suranovic said surge pricing can simply be a product of “a competitive market.”', 'But he acknowledged that sudden price increases are more likely to lead consumers to believe they’re being price gouged and “blame business for profiteering.”', '“Higher costs due to inflation is a cause of gradual price increases, but I wouldn’t consider that gouging,” he told CNN.', 'Experts in pricing strategy warn that surprise increases can generate a backlash.', '“Price gouging is a subjective emotion of a consumer feeling that they are being taken advantage of by an unfairly high price,” said Rafi Mohammed, who founded a pricing strategy consultancy firm called Culture of Profit.', '“When setting a price, managers need to understand and anticipate that their prices will elicit emotional reactions ranging from ‘that’s cheap’ to ‘this is unfair.’”', 'To avoid that, his philosophy has been to set prices in a manner that could elicit a response from customers along the lines of “Thank you!', 'I looked around at various offerings and determined that your product and price offered me the best value.”', 'That said, if you do believe you’re being price gouged, your state may be able to step in — as many did during the pandemic, even for goods like toilet paper, by capping prices. (', 'Though Roberts’ research suggests some anti-price gouging laws are to blame if you couldn’t find toilet paper.)', 'Still, Teresa Murray, director of the consumer watchdog division of US PIRG, a nonprofit consumer advocacy research group, wrote in a blog post that “if you aren’t sure whether a product is priced too high, it’s better to report problematic items to the company and your attorney general.”', 'Perhaps state attorneys general should consider a special division dedicated to Swifties, too.']",0.073110648618194,I looked around at various offerings and determined that your product and price offered me the best value.”,"CNN reached out to Shkreli, who was later convicted of securities fraud and conspiracy, over LinkedIn.",0.1773521178647091,"Biden takes particular issue with instances where the cost of producing a good has gone down while the price consumers pay goes up, a White House official told CNN.",Experts in pricing strategy warn that surprise increases can generate a backlash.,2024-05-22
+Peloton ‘paused the use of’ Sean ‘Diddy’ Combs’ music on its platform,https://edition.cnn.com/2024/05/21/business/peloton-sean-diddy-combs-music/index.html,"
+  Published
+        5:01 PM EDT, Tue May 21, 2024
+    ","Peloton said it has paused the use of music recorded by Sean “Diddy” Combs on its workout class platform in response to a member of a private Facebook group for Peloton users.
+    
+            In the comment posted on Monday, the company said it also removed the Bad Boy Entertainment Artist Series, a line of classes and workouts using music from a record label founded by Combs, on its platform.
+    
+            It did not indicate that it was removing music from past classes.
+    
+            “This means our Instructors are no longer using his music in any newly produced classes,” Peloton said in the post.
+    
+            CNN has reached out to Peloton for further comment.
+    
+            On Friday, CNN published hotel surveillance video from 2016 in which Combs appeared to grab, shove, drag and kick his then-girlfriend — Cassie Ventura.
+    
+            “My behavior on that video is inexcusable. I take full responsibility for my actions in that video,” Combs said in a video statement posted on Instagram on Sunday.
+    
+            Combs had previously issued a blanket denial of the allegations contained in a lawsuit filed by Ventura last November, in which she accused him of rape and years of abuse.
+    
+            Since then, Combs has faced four other civil lawsuits accusing him of a range of sexual misconduct and other illegal activity. One of those cases has already been settled, but the other cases remain active.
+    
+            In 2022, Peloton said it “indefinitely paused” playing Kanye West’s music from its streaming workout classes after he made antisemitic comments.
+    
+            Pelo Buddy, a fan website that doesn’t have official ties with Peloton, reported in 2022 that the company told concerned members that its instructors were no longer using West’s music in “newly produced classes” and it wasn’t recommending previously produced workout classes on its hardware or app that uses his music.
+    
+            - CNN’s Jordan Valinsky, Alli Rosenbloom and Elizabeth Wagmeister contributed to this report.",CNN,21/05/2024,"['Pelotonsaid it has paused the use of music recordedby Sean “Diddy” Combs on its workout class platformin response to a member of a private Facebook group for Peloton users.', 'In the comment posted on Monday, the company said it also removed the Bad Boy Entertainment Artist Series, a line of classes and workouts using music from a record label founded by Combs, on its platform.', 'It did not indicate that it was removing music from past classes.', '“This means our Instructors are no longer using his music in any newly produced classes,” Peloton said in the post.', 'CNN has reached out to Peloton for further comment.', 'On Friday, CNN published hotel surveillance video from 2016 in which Combs appeared to grab, shove, drag and kick his then-girlfriend — Cassie Ventura.', '“My behavior on that video is inexcusable.', 'I take full responsibility for my actions in that video,” Combs said in a video statement posted onInstagram on Sunday.', 'Combs had previously issued a blanket denial of the allegations contained in a lawsuit filed by Ventura last November,in which she accused him of rape and years of abuse.', 'Since then,Combshas faced four other civil lawsuits accusing him of a range of sexual misconduct and other illegal activity.', 'One of those cases has already been settled, but the othercasesremain active.', 'In 2022, Peloton said it “indefinitely paused” playingKanye West’s musicfrom its streaming workout classes after he made antisemitic comments.', 'Pelo Buddy, a fan website that doesn’t have official ties with Peloton, reported in 2022 that the company told concerned members that its instructors were no longer using West’s music in “newly produced classes” and it wasn’t recommending previously produced workout classes on its hardware or app that uses his music.', '- CNN’s Jordan Valinsky, Alli Rosenbloomand Elizabeth Wagmeister contributed to this report.']",-0.117844498526965,"One of those cases has already been settled, but the othercasesremain active.","Combs had previously issued a blanket denial of the allegations contained in a lawsuit filed by Ventura last November,in which she accused him of rape and years of abuse.",-0.8283006946245829,,"In 2022, Peloton said it “indefinitely paused” playingKanye West’s musicfrom its streaming workout classes after he made antisemitic comments.",2024-05-22
+Here's where rents are rising — and where they're falling,https://www.cnbc.com/2024/05/21/where-rents-are-rising.html,2024-05-21T18:27:06+0000,"Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.Now different drivers are pushing some rents higher — and throwing cold water on others.Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List. Rents cooled because a massive amount of new supply entered the market, with still more in the pipeline.Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small. Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain. The national median rent in April was $1,396.""This is typically the time of year when rent growth is accelerating heading into the busy moving season, so the fact that growth stalled this month could be a sign that the market is headed for another slow summer,"" according to the Apartment List report.Apartment vacancies are also climbing, hitting 6.7% as of March, marking the highest reading since August 2020. New multifamily building permits are slowing down, but the number of units currently under construction is near a record high, and last year saw the most new apartments hit the market in over 30 years.Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic. That annual increase, however, continues to shrink as more supply comes onto the market from build-for-rent companies.Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023, according to an analysis of Census data by the National Association of Home Builders. Over the last four quarters, 80,000 such homes began construction, representing a nearly 16% jump from the prior four quarters.""U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers,"" said Molly Boesel, principal economist for CoreLogic. ""Overbuilt areas, such as Austin, Texas, continued to soften, decreasing by 3.5% annually in March.""The continued strength overall in single-family rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives, according to Boesel. Mortgage rates have risen back into the 7% range, and home prices continue to rise, making it harder to buy a home.Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%. Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.""The decrease in the attached segment is being driven by a subset of markets, mostly in Florida, but including Austin and New Orleans. As multifamily apartments are being completed, some markets are gaining rental supply, which competes with the attached segment of the single-family rental market,"" Boesel added.",CNBC,21/05/2024,"['Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.', 'Now different drivers are pushing some rents higher — and throwing cold water on others.', 'Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List.', 'Rents cooled because a massive amount of new supply entered the market, with still more in the pipeline.', 'Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small.', ""Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain."", 'The national median rent in April was $1,396.""This is typically the time of year when rent growth is accelerating heading into the busy moving season, so the fact that growth stalled this month could be a sign that the market is headed for another slow summer,"" according to the Apartment List report.', 'Apartment vacancies are also climbing, hitting 6.7% as of March, marking the highest reading since August 2020.', 'New multifamily building permits are slowing down, but the number of units currently under construction is near a record high, and last year saw the most new apartments hit the market in over 30 years.', 'Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic.', 'That annual increase, however, continues to shrink as more supply comes onto the market from build-for-rent companies.', 'Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023, according to an analysis of Census data by the National Association of Home Builders.', 'Over the last four quarters, 80,000 such homes began construction, representing a nearly 16% jump from the prior four quarters.', '""U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers,"" said Molly Boesel, principal economist for CoreLogic. ""', 'Overbuilt areas, such as Austin, Texas, continued to soften, decreasing by 3.5% annually in March.', '""The continued strength overall in single-family rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives, according to Boesel.', 'Mortgage rates have risen back into the 7% range, and home prices continue to rise, making it harder to buy a home.', ""Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%."", 'Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.', '""The decrease in the attached segment is being driven by a subset of markets, mostly in Florida, but including Austin and New Orleans.', 'As multifamily apartments are being completed, some markets are gaining rental supply, which competes with the attached segment of the single-family rental market,"" Boesel added.']",0.2372042158816055,"Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain.","Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List.",0.1080934524536132,"Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic.","Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.",2024-05-22
+Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot',https://www.cnbc.com/2024/05/20/jamie-dimon-jpmorgan-stock-too-expensive.html,2024-05-20T20:44:19+0000,"In this articleJamie Dimon thinks shares of JPMorgan Chase are expensive.That was the message the bank's longtime CEO gave analysts Monday during JPMorgan's annual investor meeting. When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words.""I want to make it really clear, OK? We're not going to buy back a lot of stock at these prices,"" Dimon said.JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock. That 12-month performance beats other banks, especially smaller firms recovering from the 2023 regional banking crisis.It also makes the stock relatively pricey as measured by price to tangible book value, a commonly used industry metric. JPMorgan shares traded recently for around 2.4 times book value.""Buying back stock of a financial company greatly in excess of two times tangible book is a mistake,"" Dimon said. ""We aren't going to do it.""Dimon's comments about his company's stock, as well as an acknowledgement that he may be nearing retirement, sent the bank's shares down 4.5% Monday.To be clear, JPMorgan has been repurchasing its stock under a previously authorized buyback plan. The bank resumed buybacks early last year after taking a pause to build up capital under new expected guidelines.Dimon's guidance simply means it is unlikely the program will be boosted anytime soon. JPMorgan is likely to purchase shares at a $2 billion to $2.5 billion quarterly clip, Portales Partners analyst Charles Peabody wrote in a March research note.The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted. When interest rates were low, Dimon kept relatively high levels of cash, rather than plowing funds into low-yielding, long-term bonds. That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.Dimon's desire to hoard cash is not just because of impending capital rules. On multiple occasions Monday, he said he was ""cautiously pessimistic"" about economic risks, including those tied to inflation, interest rates, geopolitics and the reversal of the Federal Reserve's bond-buying programs.Markets are currently underappreciating those risks, Dimon said. For instance, prices of high-quality corporate bonds do not adequately reflect the potential for financial stress, Dimon said.""The investment grade credit spread, which is almost the lowest it's ever been, will be dead wrong,"" Dimon said. ""It's just a matter of time.""Since 2022, Dimon has warned of an economic ""hurricane"" set off by geopolitical risks and quantitative tightening. While the continued strength of the economy has surprised many on Wall Street, including Dimon, his concerns have informed his decision-making process ever since.""We've been very, very consistent — if the stock goes up, we'll buy less,"" he said Monday. ""When it comes down, we'll buy more.""",CNBC,20/05/2024,"['In this articleJamie Dimon thinks shares of JPMorgan Chase are expensive.', ""That was the message the bank's longtime CEO gave analysts Monday during JPMorgan's annual investor meeting."", ""When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words."", '""I want to make it really clear, OK?', 'We\'re not going to buy back a lot of stock at these prices,"" Dimon said.', ""JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock."", 'That 12-month performance beats other banks, especially smaller firms recovering from the 2023 regional banking crisis.', 'It also makes the stock relatively pricey as measured by price to tangible book value, a commonly used industry metric.', 'JPMorgan shares traded recently for around 2.4 times book value.', '""Buying back stock of a financial company greatly in excess of two times tangible book is a mistake,"" Dimon said. ""', ""We aren't going to do it."", '""Dimon\'s comments about his company\'s stock, as well as an acknowledgement that he may be nearing retirement, sent the bank\'s shares down 4.5% Monday.', 'To be clear, JPMorgan has been repurchasing its stock under a previously authorized buyback plan.', 'The bank resumed buybacks early last year after taking a pause to build up capital under new expected guidelines.', ""Dimon's guidance simply means it is unlikely the program will be boosted anytime soon."", 'JPMorgan is likely to purchase shares at a $2 billion to $2.5 billion quarterly clip, Portales Partners analyst Charles Peabody wrote in a March research note.', 'The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted.', 'When interest rates were low, Dimon kept relatively high levels of cash, rather than plowing funds into low-yielding, long-term bonds.', 'That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.', ""Dimon's desire to hoard cash is not just because of impending capital rules."", 'On multiple occasions Monday, he said he was ""cautiously pessimistic"" about economic risks, including those tied to inflation, interest rates, geopolitics and the reversal of the Federal Reserve\'s bond-buying programs.', 'Markets are currently underappreciating those risks, Dimon said.', 'For instance, prices of high-quality corporate bonds do not adequately reflect the potential for financial stress, Dimon said.', '""The investment grade credit spread, which is almost the lowest it\'s ever been, will be dead wrong,"" Dimon said. ""', ""It's just a matter of time."", '""Since 2022, Dimon has warned of an economic ""hurricane"" set off by geopolitical risks and quantitative tightening.', 'While the continued strength of the economy has surprised many on Wall Street, including Dimon, his concerns have informed his decision-making process ever since.', '""We\'ve been very, very consistent — if the stock goes up, we\'ll buy less,"" he said Monday. ""', 'When it comes down, we\'ll buy more.""']",0.0939214802653052,"""I want to make it really clear, OK?","""The investment grade credit spread, which is almost the lowest it's ever been, will be dead wrong,"" Dimon said. """,-0.1596055142581462,"That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.","""Dimon's comments about his company's stock, as well as an acknowledgement that he may be nearing retirement, sent the bank's shares down 4.5% Monday.",2024-05-22
+easyJet reveals AI use at new control centre in Luton,https://www.bbc.co.uk/news/articles/c977elr6veno,2024-05-22T15:25:02.440Z,"The use of artificial intelligence (AI) at easyJet's new control centre has allowed its operations teams to better manage flights, the airline said. Personnel based at the integrated control centre near Luton Airport, Bedfordshire, have access to Jetstream, a generative AI tool. It helps them solve issues for pilots and crews on the ground more quickly, easyJet said. The airline's chief executive, Johan Lundgren, said the new facilities came just in time for summer. The AI would predict standby crew requirements and recommend the best crew options for each operation, it was claimed. More than 250 staff work in the control centre, managing easyJet's daily programme of about 2,000 flights. Their responsibilities included planning routes, allocating pilots and cabin crew, arranging aircraft maintenance and passenger communications. Mr Lundgren said staff could now benefit from a ""modern and bespoke"" hub to work from. ""At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. ""And while you can't always see it, the technology is already hard at work in the air and on the ground helping us predict exactly what food and drink we need for certain routes."" He said AI helped to reduce food waste, aid predictive maintenance decisions and help choose the right aircraft to match demand. ""We continue to invest in and deepen our knowledge and use of AI,"" Mr Lundgren added. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830 ",BBC,22/05/2024,"[""The use of artificial intelligence (AI) at easyJet's new control centre has allowed its operations teams to better manage flights, the airline said."", 'Personnel based at the integrated control centre near Luton Airport, Bedfordshire, have access to Jetstream, a generative AI tool.', 'It helps them solve issues for pilots and crews on the ground more quickly, easyJet said.', ""The airline's chief executive, Johan Lundgren, said the new facilities came just in time for summer."", 'The AI would predict standby crew requirements and recommend the best crew options for each operation, it was claimed.', ""More than 250 staff work in the control centre, managing easyJet's daily programme of about 2,000 flights."", 'Their responsibilities included planning routes, allocating pilots and cabin crew, arranging aircraft maintenance and passenger communications.', 'Mr Lundgren said staff could now benefit from a ""modern and bespoke"" hub to work from. ""', 'At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. ""', 'And while you can\'t always see it, the technology is already hard at work in the air and on the ground helping us predict exactly what food and drink we need for certain routes.""', 'He said AI helped to reduce food waste, aid predictive maintenance decisions and help choose the right aircraft to match demand. ""', 'We continue to invest in and deepen our knowledge and use of AI,"" Mr Lundgren added.', 'Got a story?', 'Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830']",0.2598622775966375,"At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. ""","He said AI helped to reduce food waste, aid predictive maintenance decisions and help choose the right aircraft to match demand. """,0.9993502298990884,"At easyJet, we saw the potential early on for data to improve customer experience and operational efficiency which could help us provide a better flying experience for our customers, crew and pilots,"" he said. """,,2024-05-22
+Cazoo: What went wrong for the online used car retailer?,https://www.bbc.co.uk/news/articles/cjq55333xg9o,2024-05-21T15:25:24.710Z,"Online used car retailer Cazoo has fallen into administration, after cutting hundreds of jobs as part of a big restructuring. Cazoo became popular during the Covid pandemic when restrictions forced car buyers to browse and make their purchases online. But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars. That move has led to 728 redundancies, administrators Teneo said, after being appointed to try to find a buyer for the business. Teneo said the firm's 208 remaining staff would be retained for the time being during the administration process. It is a dramatic fall from grace for the business, which surged in popularity during the pandemic and subsequent lockdowns. Back in 2021, if you hadn't used Cazoo, you probably would have seen or heard of it. Its branding was splashed everywhere, with the company sponsoring Premier League football teams Aston Villa and Everton, as well as a host of other major sporting events like darts and snooker. Cazoo was different to other more traditional car dealers - it was a tech business trying to shake up a well-established order. The platform allowed shoppers to buy, part-exchange and finance vehicles entirely online. People could order while sitting on the sofa, and the vehicle would be delivered to their home in as little as 72 hours, with a seven-day returns policy. Launched in late 2019, the pandemic massively boosted the firm's fortunes. As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared. The environment fuelled an astonishing increase in the company's value. When it listed on the New York Stock Exchange in September 2021, it was valued at a whopping $7bn (£5bn). Now, its valuation has dropped to just $30m. In November 2021, Cazoo's founder Alex Chesterman - who also launched property website Zoopla and LoveFilm, a predecessor of Netflix - told the BBC that gaining just a small percentage of the market would create an ""enormous business"", arguing that Cazoo offered customers a simpler experience, greater choice and transparency on price. The platform went on to launch in France, Germany, Spain and Portugal. At its peak, Cazoo employed 4,500 people in 2021. But despite the mission to transform the car-selling industry, the feel-good factor surrounding Cazoo began to fade. One of the key people behind Cazoo's strong marketing campaign was Andrew Francos, who joined the company shortly before it launched. He says the early days were ""really exciting times"", but believes the firm expanded too quickly. ""Looking back I think Europe was a distraction,"" he says. ""I remember saying to someone, 'Are we going too soon?' I was probably naïve to just buy into the vision because I believed in it."" Mr Francos left Cazoo in October 2022, and admits he felt like the magic surrounding the company had gone, but adds: ""I did also think they would turn it around."" The business has never made a profit. While this is not unusual for a start-up - in fact, Mr Chesterman said he expected this to be the case for two or three years after going public - its losses grew. In 2022 it posted a loss of £704m, up from £544m the year before, and in December last year it restructured debts of $630m. According to Catherine Faiers, chief operating officer at car marketplace giant Auto Trader, while Covid saw a shift to online purchasing becoming the norm for many goods, ""cars are just fundamentally different to other things you buy"". She says the majority of UK consumers prefer a blended approach of researching online, but then seeing the car and speaking to a dealer in person before handing over their cash. ""Buying a car is a bit like buying a house. It's the second-most valuable thing that most people buy. We name our cars. When you ask people why they own a car it reads a bit like the American constitution - 'I own a car because it gives me freedom, it gives me independence, it's empowering,'"" Ms Faiers says. Kevin Gaskell, former managing director of Porsche, Lamborghini and BMW, says Cazoo's problems were down to a ""simple fact of trying to get a foothold in a very sophisticated, very established market"". ""They believed that they could come in and become an online retail business and provide a full service but car dealers are already doing that. There's nothing new in the model that they developed,"" he told the BBC's Today programme. ""They've spent a huge amount of money developing the brand. In terms of their revenue, it has got nowhere near where they expected it to be."" Mr Chesterman stepped aside as chief executive in January 2023 and perhaps the writing was on the wall for Cazoo when he left the company altogether in December. His replacement, Paul Whitehead, stepped down in March this year - the same time that Cazoo announced it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform, and wound down its European business. The company has said it explored ""strategic alternatives"" to insolvency, including selling off parts of its business, as it struggled to raise cash from investors, but no buyer came forward. When contacted by the BBC for comment on Cazoo's downfall, Mr Chesterman said he had had no involvement with the company for more than 18 months and declined to comment further. Philip Nothard, insight and strategy director at Cox Automotive, says Cazoo did force many of the established players to adapt, but as supply problems and microchip shortages have dissipated, it allowed others to catch up. ""They came in quick, they came in heavy, they came in with a concept that on the face of it worked in many ways,"" he adds ""[But] in time, established retailers could offer what Cazoo were offering. They could offer that digital omnichannel, e-commerce experience. And essentially they had a physical infrastructure already in place."" ",BBC,21/05/2024,"['Online used car retailer Cazoo has fallen into administration, after cutting hundreds of jobs as part of a big restructuring.', 'Cazoo became popular during the Covid pandemic when restrictions forced car buyers to browse and make their purchases online.', 'But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars.', 'That move has led to 728 redundancies, administrators Teneo said, after being appointed to try to find a buyer for the business.', ""Teneo said the firm's 208 remaining staff would be retained for the time being during the administration process."", 'It is a dramatic fall from grace for the business, which surged in popularity during the pandemic and subsequent lockdowns.', ""Back in 2021, if you hadn't used Cazoo, you probably would have seen or heard of it."", 'Its branding was splashed everywhere, with the company sponsoring Premier League football teams Aston Villa and Everton, as well as a host of other major sporting events like darts and snooker.', 'Cazoo was different to other more traditional car dealers - it was a tech business trying to shake up a well-established order.', 'The platform allowed shoppers to buy, part-exchange and finance vehicles entirely online.', 'People could order while sitting on the sofa, and the vehicle would be delivered to their home in as little as 72 hours, with a seven-day returns policy.', ""Launched in late 2019, the pandemic massively boosted the firm's fortunes."", ""As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared."", ""The environment fuelled an astonishing increase in the company's value."", 'When it listed on the New York Stock Exchange in September 2021, it was valued at a whopping $7bn (£5bn).', 'Now, its valuation has dropped to just $30m. In November 2021, Cazoo\'s founder Alex Chesterman - who also launched property website Zoopla and LoveFilm, a predecessor of Netflix - told the BBC that gaining just a small percentage of the market would create an ""enormous business"", arguing that Cazoo offered customers a simpler experience, greater choice and transparency on price.', 'The platform went on to launch in France, Germany, Spain and Portugal.', 'At its peak, Cazoo employed 4,500 people in 2021.', 'But despite the mission to transform the car-selling industry, the feel-good factor surrounding Cazoo began to fade.', ""One of the key people behind Cazoo's strong marketing campaign was Andrew Francos, who joined the company shortly before it launched."", 'He says the early days were ""really exciting times"", but believes the firm expanded too quickly. ""', 'Looking back I think Europe was a distraction,"" he says. ""', ""I remember saying to someone, 'Are we going too soon?'"", 'I was probably naïve to just buy into the vision because I believed in it.""', 'Mr Francos left Cazoo in October 2022, and admits he felt like the magic surrounding the company had gone, but adds: ""I did also think they would turn it around.""', 'The business has never made a profit.', 'While this is not unusual for a start-up - in fact, Mr Chesterman said he expected this to be the case for two or three years after going public - its losses grew.', 'In 2022 it posted a loss of £704m, up from £544m the year before, and in December last year it restructured debts of $630m. According to Catherine Faiers, chief operating officer at car marketplace giant Auto Trader, while Covid saw a shift to online purchasing becoming the norm for many goods, ""cars are just fundamentally different to other things you buy"".', 'She says the majority of UK consumers prefer a blended approach of researching online, but then seeing the car and speaking to a dealer in person before handing over their cash. ""', 'Buying a car is a bit like buying a house.', ""It's the second-most valuable thing that most people buy."", 'We name our cars.', 'When you ask people why they own a car it reads a bit like the American constitution - \'I own a car because it gives me freedom, it gives me independence, it\'s empowering,\'"" Ms Faiers says.', 'Kevin Gaskell, former managing director of Porsche, Lamborghini and BMW, says Cazoo\'s problems were down to a ""simple fact of trying to get a foothold in a very sophisticated, very established market"". ""', 'They believed that they could come in and become an online retail business and provide a full service but car dealers are already doing that.', 'There\'s nothing new in the model that they developed,"" he told the BBC\'s Today programme. ""', ""They've spent a huge amount of money developing the brand."", 'In terms of their revenue, it has got nowhere near where they expected it to be.""', 'Mr Chesterman stepped aside as chief executive in January 2023 and perhaps the writing was on the wall for Cazoo when he left the company altogether in December.', 'His replacement, Paul Whitehead, stepped down in March this year - the same time that Cazoo announced it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform, and wound down its European business.', 'The company has said it explored ""strategic alternatives"" to insolvency, including selling off parts of its business, as it struggled to raise cash from investors, but no buyer came forward.', ""When contacted by the BBC for comment on Cazoo's downfall, Mr Chesterman said he had had no involvement with the company for more than 18 months and declined to comment further."", 'Philip Nothard, insight and strategy director at Cox Automotive, says Cazoo did force many of the established players to adapt, but as supply problems and microchip shortages have dissipated, it allowed others to catch up. ""', 'They came in quick, they came in heavy, they came in with a concept that on the face of it worked in many ways,"" he adds ""[But] in time, established retailers could offer what Cazoo were offering.', 'They could offer that digital omnichannel, e-commerce experience.', 'And essentially they had a physical infrastructure already in place.""']",0.0935591518822369,"When you ask people why they own a car it reads a bit like the American constitution - 'I own a car because it gives me freedom, it gives me independence, it's empowering,'"" Ms Faiers says.","But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars.",-0.2081619203090667,"Launched in late 2019, the pandemic massively boosted the firm's fortunes.","As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared.",2024-05-22
+Pfizer aims to save $1.5 billion by 2027 in first wave of new cost cuts,https://www.cnbc.com/2024/05/22/pfizer-announces-new-cost-cutting-program.html,2024-05-22T19:13:22+0000,"In this articlePfizer on Wednesday said it has launched a new multiyear program to reduce costs as it works to rebound from the rapid decline of its Covid business. The announcement is in addition to another $4 billion cost-cutting effort, which Pfizer announced last year as demand for its Covid vaccine and oral drug Paxlovid slumped. In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to save the company about $1.5 billion by the end of 2027.One-time costs related to the initial stage of cuts are expected to be about $1.7 billion, including severance for an unspecified number of laid-off employees. The company expects to record the majority of those charges this year. Pfizer also expects the program to involve ""product portfolio enhancements"" and changes to the company's manufacturing and supply network, a spokesperson told CNBC.""The program will focus on streamlining our ways of working, reducing complexity and increasing productivity in Pfizer Global Supply,"" the spokesperson said in a statement.Pfizer in the filing added that ""given the complexity in manufacturing and longer lead times required to make changes, this program will be a multi-phased effort.""Pfizer is trying to shore up investor sentiment after its shares fell nearly 50% in 2023, making it the worst-performing pharmaceutical stock last year. That share drop erased more than $100 billion in Pfizer's market value.As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a new RSV shot, a twice-daily weight loss pill that fell short in clinical trials and an initial 2024 forecast that missed expectations.But Pfizer pleased investors earlier this month after it reported first-quarter revenue and adjusted profit that beat expectations and hiked its full-year earnings outlook. The pharmaceutical giant said its new profit guidance accounts for its ""confidence"" in its business and its ability to slash costs.""We are cautiously optimistic about the year,"" Pfizer CEO Albert Bourla said during an earnings call on May 1.Shares of the company closed 6% higher on that day. Pfizer's stock is up nearly 14% since then.",CNBC,22/05/2024,"['In this articlePfizer on Wednesday said it has launched a new multiyear program to reduce costs as it works to rebound from the rapid decline of its Covid business.', 'The announcement is in addition to another $4 billion cost-cutting effort, which Pfizer announced last year as demand for its Covid vaccine and oral drug Paxlovid slumped.', 'In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to save the company about $1.5 billion by the end of 2027.One-time costs related to the initial stage of cuts are expected to be about $1.7 billion, including severance for an unspecified number of laid-off employees.', 'The company expects to record the majority of those charges this year.', 'Pfizer also expects the program to involve ""product portfolio enhancements"" and changes to the company\'s manufacturing and supply network, a spokesperson told CNBC.""The program will focus on streamlining our ways of working, reducing complexity and increasing productivity in Pfizer Global Supply,"" the spokesperson said in a statement.', 'Pfizer in the filing added that ""given the complexity in manufacturing and longer lead times required to make changes, this program will be a multi-phased effort.', '""Pfizer is trying to shore up investor sentiment after its shares fell nearly 50% in 2023, making it the worst-performing pharmaceutical stock last year.', ""That share drop erased more than $100 billion in Pfizer's market value."", 'As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a newRSV shot, a twice-daily weight loss pill thatfell shortin clinical trials and an initial 2024forecastthat missed expectations.', 'But Pfizer pleased investors earlier this month after itreportedfirst-quarter revenue and adjusted profit that beat expectations and hiked its full-year earnings outlook.', 'The pharmaceutical giant said its new profit guidance accounts for its ""confidence"" in its business and its ability to slash costs.', '""We are cautiously optimistic about the year,"" Pfizer CEO Albert Bourla said during an earnings call on May 1.Shares of the company closed 6% higher on that day.', ""Pfizer's stock is up nearly 14% since then.""]",0.1117123241806072,"In a securities filing, the pharmaceutical giant said the first phase of its new program is focused on operational efficiencies and is expected to save the company about $1.5 billion by the end of 2027.One-time costs related to the initial stage of cuts are expected to be about $1.7 billion, including severance for an unspecified number of laid-off employees.","As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a newRSV shot, a twice-daily weight loss pill thatfell shortin clinical trials and an initial 2024forecastthat missed expectations.",0.4545602852647954,Pfizer's stock is up nearly 14% since then.,"As demand for Covid products plummeted last year, Pfizer also disappointed Wall Street with the underwhelming launch of a newRSV shot, a twice-daily weight loss pill thatfell shortin clinical trials and an initial 2024forecastthat missed expectations.",2024-05-22
+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.",2024-05-22
+JPMorgan CEO Jamie Dimon signals retirement is closer than ever,https://www.cnbc.com/2024/05/20/jpmorgan-ceo-jamie-dimon-retirement-approaching.html,2024-05-20T23:12:50+0000,"In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years. That is a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away.""The timetable isn't five years anymore,"" Dimon said at the New York-based bank's annual investor meeting.The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts. Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.Still, Dimon added Monday that he still has ""the energy that I've always had"" in managing the sprawling company.The decision of when he moves on will ultimately be up to JPMorgan's board, Dimon said, and he exhorted investors and analysts to examine the executives who could take his place.Atop the short list of candidates is Marianne Lake, CEO of JPMorgan's consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank. The executives were given their latest assignments in January.""We're on the way, we're moving people around,"" Dimon said.Even when he steps down as CEO, however, it is likely he will stay on as the bank's chairman, JPMorgan has said.",CNBC,20/05/2024,"[""In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much."", ""In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years."", ""That is a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away."", '""The timetable isn\'t five years anymore,"" Dimon said at the New York-based bank\'s annual investor meeting.', ""The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts."", 'Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.', 'Still, Dimon added Monday that he still has ""the energy that I\'ve always had"" in managing the sprawling company.', ""The decision of when he moves on will ultimately be up to JPMorgan's board, Dimon said, and he exhorted investors and analysts to examine the executives who could take his place."", ""Atop the short list of candidates is Marianne Lake, CEO of JPMorgan's consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank."", 'The executives were given their latest assignments in January.', '""We\'re on the way, we\'re moving people around,"" Dimon said.', ""Even when he steps down as CEO, however, it is likely he will stay on as the bank's chairman, JPMorgan has said.""]",0.0673280442222593,"Still, Dimon added Monday that he still has ""the energy that I've always had"" in managing the sprawling company.",In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.,-0.9450824856758118,,The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts.,2024-05-22
+"Spirit Airlines gets rid of change and cancellation fees, joining Frontier",https://www.cnbc.com/2024/05/20/spirit-airlines-ends-change-fees.html,2024-05-20T16:42:47+0000,"In this articleSpirit Airlines is doing away with both change and cancellation fees, effective immediately, days after Frontier's similar announcement, part of an overhaul of the country's biggest discount carriers' longtime strategy.Prior to the new rule, Spirit used to charge anywhere between $69 and $119 for ticket changes and cancellations, depending on how close to departure the customer made the change.""This new policy is among the best in the industry because it applies to each and every guest,"" Spirit said in a statement to CNBC. ""We have many other enhancements in the works and look forward to sharing more soon.""The changes mark a shift for budget airlines' longtime pricing approach, which includes low base fares to attract customers and add-on fees for advanced seating assignments, bottled water and cabin baggage. Ancillary revenue routinely surpasses those airlines' ticket prices.""As we continue to see the demand and competitive environments develop, we know that we must also change with the times,"" Spirit's Chief Commercial Officer Matt Klein said on an earnings call earlier this month. ""We will continue to test out new merchandising strategies, which we anticipate will change how we think about the components of total revenue generation.""Both Spirit and Frontier are trying to return to profitability in the wake of the Covid-19 pandemic, while larger airlines that offer both bare-bones fares to domestic destinations and big international networks have posted profits.Most larger rivals such as Delta, American, Alaska and United got rid of change fees during the pandemic except for the cheapest, most restrictive tickets. Southwest Airlines does not charge customers a flight-change fee.Along with getting rid of change fees, Frontier also announced Friday that it will start offering bundles that include add-on options such as early boarding and checked baggage that they previously offered a la carte. Spirit is also offering bundled packages with varying prices that include perks such as checked bags.President Joe Biden and the Department of Transportation have been cracking down on what they deem ""junk fees."" As part of that push, the DOT issued a new rule requiring airlines to be upfront about add-on fees such as those for checked or carry-on baggage, which was subsequently challenged by a slew of airlines.Spirit said the end of cancellation fees were not tied to the new rules.The Biden administration also recently issued a new rule requiring airlines to offer automatic cash refunds for cancellations rather than in response to a customer's request.",CNBC,20/05/2024,"[""In this articleSpirit Airlines is doing away with both change and cancellation fees, effective immediately, days after Frontier's similar announcement, part of an overhaul of the country's biggest discount carriers' longtime strategy."", 'Prior to the new rule, Spirit used to charge anywhere between $69 and $119 for ticket changes and cancellations, depending on how close to departure the customer made the change.', '""This new policy is among the best in the industry because it applies to each and every guest,"" Spirit said in a statement to CNBC. ""', 'We have many other enhancements in the works and look forward to sharing more soon.', '""The changes mark a shift for budget airlines\' longtime pricing approach, which includes low base fares to attract customers and add-on fees for advanced seating assignments, bottled water and cabin baggage.', ""Ancillary revenue routinely surpasses those airlines' ticket prices."", '""As we continue to see the demand and competitive environments develop, we know that we must also change with the times,"" Spirit\'s Chief Commercial Officer Matt Klein said on an earnings call earlier this month. ""', 'We will continue to test out new merchandising strategies, which we anticipate will change how we think about the components of total revenue generation.', '""Both Spirit and Frontier are trying to return to profitability in the wake of the Covid-19 pandemic, while larger airlines that offer both bare-bones fares to domestic destinations and big international networks have posted profits.', 'Most larger rivals such as Delta, American, Alaska and United got rid of change fees during the pandemic except for the cheapest, most restrictive tickets.', 'Southwest Airlines does not charge customers a flight-change fee.', 'Along with getting rid of change fees, Frontier also announced Friday that it will start offering bundles that include add-on options such as early boarding and checked baggage that they previously offered a la carte.', 'Spirit is also offering bundled packages with varying prices that include perks such as checked bags.', 'President Joe Biden and the Department of Transportation have been cracking down on what they deem ""junk fees.""', 'As part of that push, the DOT issued a new rule requiring airlines to be upfront about add-on fees such as those for checked or carry-on baggage, which was subsequently challenged by a slew of airlines.', 'Spirit said the end of cancellation fees were not tied to the new rules.', ""The Biden administration also recently issued a new rule requiring airlines to offer automatic cash refunds for cancellations rather than in response to a customer's request.""]",0.2186504330868678,"""This new policy is among the best in the industry because it applies to each and every guest,"" Spirit said in a statement to CNBC. """,,0.5704053997993469,"""Both Spirit and Frontier are trying to return to profitability in the wake of the Covid-19 pandemic, while larger airlines that offer both bare-bones fares to domestic destinations and big international networks have posted profits.","President Joe Biden and the Department of Transportation have been cracking down on what they deem ""junk fees.""",2024-05-22
+Boeing shareholders re-elect departing CEO Calhoun to board,https://www.cnbc.com/2024/05/17/boeing-calhoun-reelected-shareholder-vote.html,2024-05-17T16:46:44+0000,"In this articleBoeing shareholders voted to re-elect the outgoing CEO Dave Calhoun to the board of directors, a preliminary tally on Friday showed, as he sought to reassure investors that the manufacturer is on the path to stability amid its latest safety crisis.Calhoun in March said he will step down by year's end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer's safety and quality control issues. Boeing also replaced its board chair and the head of its commercial airplane unit in the shakeup.Boeing's new chairman, Steve Mollenkopf, told shareholders at the company's annual meeting Friday that he has consulted with investors and customers on Calhoun's successor. Proxy advisor Glass Lewis had recommended that shareholders vote against Calhoun and two other board members.Boeing's latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing. It has also further strained Boeing's relationship with its regulator, the Federal Aviation Administration, which has ramped up inspections of the manufacturer.Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.",CNBC,17/05/2024,"['In this articleBoeing shareholders voted to re-elect the outgoing CEO Dave Calhoun to the board of directors, a preliminary tally on Friday showed, as he sought to reassure investors that the manufacturer is on the path to stability amid its latest safety crisis.', ""Calhoun in March said he will step down by year's end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer's safety and quality control issues."", 'Boeing also replaced its board chair and the head of its commercial airplane unit in the shakeup.', ""Boeing's new chairman, Steve Mollenkopf, told shareholders at the company's annual meeting Friday that he has consulted with investors and customers on Calhoun's successor."", 'Proxy advisor Glass Lewis had recommended that shareholders vote against Calhoun and two other board members.', ""Boeing's latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing."", ""It has also further strained Boeing's relationship with its regulator, the Federal Aviation Administration, which has ramped up inspections of the manufacturer."", 'Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.']",-0.1307499503462509,"Calhoun in March said he will step down by year's end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer's safety and quality control issues.","Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.",-0.2865927815437317,"Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.","Boeing's latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing.",2024-05-22
+The NBA is picking its TV partners — and a deal hinges on Warner Bros. Discovery's next move,https://www.cnbc.com/2024/05/16/nba-tv-rights-deal-hinges-on-warner-bros-discovery.html,2024-05-16T23:14:28+0000,"In this articleWhether it's two people in a marriage or a company and a sports league, it's not easy to break up a 40-year partnership.The NBA and Warner Bros. Discovery's Turner Sports have been in business together for nearly four decades. The relationship is now in jeopardy, as Comcast's NBCUniversal is attempting to steal away its package of games with a $2.5 billion per-year offer, as CNBC has previously reported.The league ended its exclusive window to renew a deal with its two current media partners, Disney and Warner Bros. Discovery, on April 22. Since then, the league has set a framework to renew with Disney, bring in Amazon as a new third partner, and sell its other package to either Warner Bros. Discovery or NBCUniversal, according to people familiar with the matter. The league stands to triple the total value of a new deal from about $24 billion to $76 billion or more.Warner Bros. Discovery continues to have discussions with the NBA about keeping the rights, according to people familiar with the matter. The league could still decide to simply renew with its incumbent partner, but it's not likely, said two of the people, who asked not to be named because the talks are private.The more probable path would be for the league to sign papers with NBCUniversal, formally securing its bid. That would trigger a contractual option for Warner Bros. Discovery to match the offer.This is where things might get thorny.Both the NBA and Warner Bros. Discovery have begun poring over legal language to determine if the league can reject a potential match, the people said. The contractual wording is vague, and it's unclear if the NBA has full discretion to walk away from Warner Bros. Discovery if it matches the bid, said the people.If Warner Bros. Discovery decides to match, and the NBA moves to choose NBCUniversal's offer, the sides may be headed for a lawsuit. Warner Bros. Discovery believes it's fairly well protected by the contractual language, one of the people said.Still, that remains hypothetical at this point. It's possible Warner Bros. Discovery won't match NBCUniversal's bid, which would avoid potential conflict.Some league officials are worried Warner Bros. Discovery's balance sheet can't handle spending $2.5 billion a year on the NBA, according to people familiar with the matter. Warner Bros. Discovery has a market valuation of about $20 billion and an enterprise value of about $60 billion, including $43.2 billion of gross debt, as of the end of the company's fiscal first quarter. The company had a leverage ratio (net debt to adjusted earnings before interest, taxes, depreciation and amortization) of 4.1.Warner Bros. Discovery CEO David Zaslav has both publicly and privately preached the importance of financial discipline for the company.NBCUniversal parent Comcast has a market capitalization of about $154 billion and an enterprise value of $244 billion. Comcast's leverage ratio is about 2.5.NBA officials are more comfortable Comcast can pay what would amount to more than double the previous price for the package, according to the people familiar to the matter. Warner Bros. Discovery had been paying $1.2 billion per year to air NBA games. The new package also includes fewer games than the current one because the NBA is likely to introduce a third partner — most likely to be Amazon.Spokespeople for Warner Bros. Discovery and the NBA declined to comment.Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played. The new joint venture, one-third owned by each media company, will offer a bundle of sports networks and ESPN+ at a still to be determined price that's less expensive than traditional cable. CNBC reported earlier this year the price could be around $45 or $50 a month. The service will debut in the fall, the companies have said.The three companies haven't yet formally signed paperwork on the venture as they await regulatory approval. If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren't partners in the product.Warner Bros. Discovery licenses the rights to other sports leagues and groups, including MLB, the NHL and the National Collegiate Athletic Association's March Madness. The company will also have the NBA next year no matter what, as the new rights deal doesn't kick in until the end of the 2024-25 season.There's been no discussion about shutting down the venture before it launches if Warner Bros. Discovery loses the NBA, according to a person familiar with the matter. Still, without the NBA, Disney and Fox would be contributing the lion's share of sports content for the service. Disney's ESPN and Fox own both college football and NFL packages, unlike Warner Bros. Discovery. The three companies plan to split revenue commensurate with the affiliate fees associated with their linear networks.Warner Bros. Discovery could use the money it saves from not obtaining NBA rights to spend on other sports, such as more MLB games or bidding for UFC, which will likely begin renewal discussions with media companies in early 2025.ESPN plans to launch its own ""flagship"" streaming service in the fall of 2025.Disclosure: Comcast's NBCUniversal is the parent company of CNBC.WATCH: The root problem facing streamers is the lack of daily usage, says LightShed's Greenfield",CNBC,16/05/2024,"[""In this articleWhether it's two people in a marriage or a company and a sports league, it's not easy to break up a 40-year partnership."", ""The NBA and Warner Bros. Discovery's Turner Sports have been in business together for nearly four decades."", ""The relationship is now in jeopardy, as Comcast's NBCUniversal is attempting to steal away its package of games with a $2.5 billion per-year offer, as CNBC has previously reported."", 'The league ended its exclusive window to renew a deal with its two current media partners, Disney and Warner Bros. Discovery, on April 22.', 'Since then, the league has set a framework to renew with Disney, bring in Amazon as a new third partner, and sell its other package to either Warner Bros. Discovery or NBCUniversal, according to people familiar with the matter.', 'The league stands to triple the total value of a new deal from about $24 billion to $76 billion or more.', 'Warner Bros. Discovery continues to have discussions with the NBA about keeping the rights, according to people familiar with the matter.', ""The league could still decide to simply renew with its incumbent partner, but it's not likely, said two of the people, who asked not to be named because the talks are private."", 'The more probable path would be for the league to sign papers with NBCUniversal, formally securing its bid.', 'That would trigger a contractual option for Warner Bros. Discovery to match the offer.', 'This is where things might get thorny.', 'Both the NBA and Warner Bros. Discovery have begun poring over legal language to determine if the league can reject a potential match, the people said.', ""The contractual wording is vague, and it's unclear if the NBA has full discretion to walk away from Warner Bros. Discovery if it matches the bid, said the people."", ""If Warner Bros. Discovery decides to match, and the NBA moves to choose NBCUniversal's offer, the sides may be headed for a lawsuit."", ""Warner Bros. Discovery believes it's fairly well protected by the contractual language, one of the people said."", 'Still, that remains hypothetical at this point.', ""It's possible Warner Bros. Discovery won't match NBCUniversal's bid, which would avoid potential conflict."", ""Some league officials are worried Warner Bros. Discovery's balance sheet can't handle spending $2.5 billion a year on the NBA, according to people familiar with the matter."", ""Warner Bros. Discovery has a market valuation of about $20 billion and an enterprise value of about $60 billion, including $43.2 billion of gross debt, as of the end of the company's fiscal first quarter."", 'The company had a leverage ratio (net debt to adjusted earnings before interest, taxes, depreciation and amortization) of 4.1.Warner Bros. Discovery CEO David Zaslav has both publicly and privately preached the importance of financial discipline for the company.', 'NBCUniversal parent Comcast has a market capitalization of about $154 billion and an enterprise value of $244 billion.', ""Comcast's leverage ratio is about 2.5.NBA officials are more comfortable Comcast can pay what would amount to more than double the previous price for the package,according to the people familiar to the matter."", 'Warner Bros. Discovery had been paying $1.2 billion per year to air NBA games.', 'The new package also includes fewer games than the current one because the NBA is likely to introduce a third partner — most likely to be Amazon.', 'Spokespeople for Warner Bros. Discovery and the NBA declined to comment.', 'Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played.', ""The new joint venture, one-third owned by each media company, will offer a bundle of sports networks and ESPN+ at a still to be determined price that's less expensive than traditional cable."", 'CNBC reported earlier this year the price could be around $45 or $50 a month.', 'The service will debut in the fall, the companies have said.', ""The three companies haven't yet formally signed paperwork on the venture as they await regulatory approval."", ""If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren't partners in the product."", ""Warner Bros. Discovery licenses the rights to other sports leagues and groups, including MLB, the NHL and the National Collegiate Athletic Association's March Madness."", ""The company will also have the NBA next year no matter what, as the new rights deal doesn't kick in until the end of the 2024-25 season."", ""There's been no discussion about shutting down the venture before it launches if Warner Bros. Discovery loses the NBA, according to a person familiar with the matter."", ""Still, without the NBA, Disney and Fox would be contributing the lion's share of sports content for the service."", ""Disney's ESPN and Fox own both college football and NFL packages, unlike Warner Bros. Discovery."", 'The three companies plan to split revenue commensurate with the affiliate fees associated with their linear networks.', 'Warner Bros. Discovery could use the money it saves from not obtaining NBA rights to spend on other sports, such as more MLB games or bidding for UFC, which will likely begin renewal discussions with media companies in early 2025.ESPN plans to launch its own ""flagship"" streaming service in the fall of 2025.Disclosure: Comcast\'s NBCUniversal is the parent company of CNBC.WATCH: The root problem facing streamers is the lack of daily usage, says LightShed\'s Greenfield']",0.000679100756805,"Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played.","The relationship is now in jeopardy, as Comcast's NBCUniversal is attempting to steal away its package of games with a $2.5 billion per-year offer, as CNBC has previously reported.",0.1325168354170663,"Comcast's leverage ratio is about 2.5.NBA officials are more comfortable Comcast can pay what would amount to more than double the previous price for the package,according to the people familiar to the matter.","If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren't partners in the product.",2024-05-22
+TikTok plans global layoffs in operations and marketing,https://edition.cnn.com/2024/05/22/tech/tiktok-plans-global-layoffs-operations-marketing/index.html,"
+  Published
+        12:36 PM EDT, Wed May 22, 2024
+    ","TikTok is planning to lay off large swaths of its operations and marketing workforce, current employees briefed on the plans told CNN.
+    
+            The global layoffs are expected to hit teams that handle user support and communications, as well as content and marketing. TikTok’s current global user operations team will be dismantled as part of the move, and remaining employees will be distributed among the company’s trust and safety, marketing, content and product teams.
+    
+            News of the layoffs was first reported by The Information. TikTok didn’t respond to a request for comment.
+    
+            Some TikTok employees were notified of the layoff plans Tuesday evening — after The Information’s report — when Adam Presser, the company’s head of operations, and Chief Brand and Communications Officer Zenia Mucha sent a message to affected teams, the people said.
+    
+            The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.
+    
+            The layoffs are not related to the legal and political turmoil facing the company in the United States that could end in a potential nationwide ban of the TikTok app, the person added.
+    
+            It is unclear how many TikTok employees could lose their jobs. The Information reported that a “large percentage” of the roughly 1,000 employees who work on the affected teams could be laid off. In 2023, TikTok disclosed that it had 7,000 employees in the United States alone.",CNN,22/05/2024,"['TikTok is planning to lay off large swaths of its operations and marketing workforce, current employees briefed on the plans told CNN.', 'The global layoffs are expected to hit teams that handle user support and communications, as well as content and marketing.', 'TikTok’s current global user operations team will be dismantled as part of the move, and remaining employees will be distributed among the company’s trust and safety, marketing, content and product teams.', 'News of the layoffs was first reported byThe Information.', 'TikTok didn’t respond to a request for comment.', 'Some TikTok employees were notified of the layoff plans Tuesday evening — after The Information’s report — when Adam Presser, the company’s head of operations, and Chief Brand and Communications Officer Zenia Mucha sent a message to affected teams, the people said.', 'The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.', 'The layoffs are not related to the legal and political turmoil facing the company in the United States that could end ina potential nationwide ban of the TikTok app, the person added.', 'It is unclear how many TikTok employees could lose their jobs.', 'The Information reported that a “large percentage” of the roughly 1,000 employees who work on the affected teams could be laid off.', 'In 2023, TikTokdisclosedthat it had 7,000 employees in the United States alone.']",0.0965242725197573,"The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.",It is unclear how many TikTok employees could lose their jobs.,-0.7640862464904785,,"The layoffs had been in the works for some time, perhaps almost a year, but recent turnover in TikTok’s marketing, trust and safety and operations teams prompted delays, one of the employees told CNN.",2024-05-22
+"Wendy's will offer $3 breakfast deal, as rivals such as McDonald's test value meals to drive sales",https://www.cnbc.com/2024/05/20/wendys-will-offer-breakfast-meal-deal-after-mcdonalds.html,2024-05-20T20:20:07+0000,"In this articleWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out.The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.The promotion comes as Wendy's rival McDonald's plans a similar yet limited value meal option as it tries to boost traffic. Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25.Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback. Other fast-casual chains have enjoyed strong sales despite higher prices.As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million. Its same-restaurant sales worldwide grew only 0.9% in the quarter.McDonald's missed first-quarter earnings expectations last month. Although higher prices have helped the chain's revenue, they have scared away some low-income customers. Chief Financial Officer Ian Borden said the company has adopted a ""street-fighting mentality"" to compete for value-minded diners.KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates. The company cited same-store sales declines for KFC and Pizza Hut.",CNBC,20/05/2024,"[""In this articleWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out."", 'The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.', ""The promotion comes as Wendy's rival McDonald's plans a similar yet limited value meal option as it tries to boost traffic."", ""Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25.Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback."", 'Other fast-casual chains have enjoyed strong sales despite higher prices.', 'As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.', ""Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million."", 'Its same-restaurant sales worldwide grew only 0.9% in the quarter.', ""McDonald's missed first-quarter earnings expectations last month."", ""Although higher prices have helped the chain's revenue, they have scared away some low-income customers."", 'Chief Financial Officer Ian Borden said the company has adopted a ""street-fighting mentality"" to compete for value-minded diners.', 'KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.', 'The company cited same-store sales declines for KFC and Pizza Hut.']",-0.0395152853201782,Other fast-casual chains have enjoyed strong sales despite higher prices.,"KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.",-0.1785422265529632,Other fast-casual chains have enjoyed strong sales despite higher prices.,"KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.",2024-05-22
+Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users,https://www.cnbc.com/2024/05/21/nestle-to-launch-vital-pursuit-frozen-food-for-glp-1-users.html,2024-05-21T13:23:12+0000,"Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.Over the last year, the buzzy weight loss and diabetes drugs have taken off as more options hit the market and as celebrities like Oprah Winfrey and Elon Musk endorse them. Roughly one in eight adults in the U.S. reported using a GLP-1 drug at some point, according to a recent survey from health policy research organization KFF. Roughly half of those Americans, or around 6% of U.S. adults, are currently using one of the treatments. The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.As the drugs' popularity has soared, investors have grown concerned about what their rise means for food and beverage companies and fast-food chains. People who take the medication typically eat less frequently because they have fewer cravings and desire more protein and less sugary and fatty foods. In October, Walmart U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories.But Nestle sees an opportunity to cater to those consumers through Vital Pursuit.""The reality is, for the last 25 years, the diet has been dying, in a sense. ... For me, what we've done is actually given consumers a new tool that actually gives them confidence and success on this journey,"" Nestle's North America CEO Steve Presley told CNBC.The new brand's initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas. The products will include one or more essential nutrients, like protein, calcium or iron. The company plans to sell Vital Pursuit items for $4.99 or under and offer gluten-free options.Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media.The new line will hit the freezer aisle by the fourth quarter.In recent years, Nestle has also tried to focus more on health-conscious consumers. In 2018, it sold its U.S. candy business, which includes brands like Butterfinger, Crunch and Laffy Taffy, to Ferrero for $2.8 billion. Nestle's food business, which includes brands like Stouffer's and Toll House, only accounts for 14.5% of its U.S. sales.Nestle already owns Lean Cuisine, which was founded in 1981 as a healthier alternative to other frozen meals. The company chose to create a new brand to reach GLP-1 users because Lean's branding focuses on consumers looking to limit their calories. However, people who take GLP-1 medications may want to consume more nutrients, such as protein, which can help with the muscle loss associated with the drugs. ""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.Shares of Swiss-based Nestle have fallen 16% this year, dragging its market value down to $278 billion. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.",CNBC,21/05/2024,"['Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.', 'Over the last year, the buzzy weight loss and diabetes drugs have taken off as more options hit the market and as celebrities like Oprah Winfrey and Elon Musk endorse them.', 'Roughly one in eight adults in the U.S. reported using a GLP-1 drug at some point, according to a recentsurveyfrom health policy research organization KFF.', 'Roughly half of those Americans, or around 6% of U.S. adults, are currently using one of the treatments.', 'The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.', ""As the drugs' popularity has soared, investors have grown concerned about what their rise means for food and beverage companies and fast-food chains."", 'People who take the medication typically eat less frequently because they have fewer cravings and desire more protein and less sugary and fatty foods.', 'In October, Walmart U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories.', 'But Nestle sees an opportunity to cater to those consumers through Vital Pursuit.', '""The reality is, for the last 25 years, the diet has been dying, in a sense. ...', 'For me, what we\'ve done is actually given consumers a new tool that actually gives them confidence and success on this journey,"" Nestle\'s North America CEO Steve Presley told CNBC.The new brand\'s initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas.', 'The products will include one or more essential nutrients, like protein, calcium or iron.', 'The company plans to sell Vital Pursuit items for $4.99 or under and offer gluten-free options.', ""Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media."", 'The new line will hit the freezer aisle by the fourth quarter.', 'In recent years, Nestle has also tried to focus more on health-conscious consumers.', 'In 2018, it sold its U.S. candy business, which includes brands like Butterfinger, Crunch and Laffy Taffy, to Ferrero for $2.8 billion.', ""Nestle's food business, which includes brands like Stouffer's and Toll House, only accounts for 14.5% of its U.S. sales."", 'Nestle already owns Lean Cuisine, which was founded in 1981 as a healthier alternative to other frozen meals.', ""The company chose to create a new brand to reach GLP-1 users because Lean's branding focuses on consumers looking to limit their calories."", 'However, people who take GLP-1 medications may want to consume more nutrients, such as protein, which can help with the muscle loss associated with the drugs.', '""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.', 'Shares of Swiss-based Nestle have fallen 16% this year, dragging its market value down to $278 billion.', 'The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.']",0.3001622429968393,"""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.",,0.249001994729042,"The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.",The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.,2024-05-22
+Target shares slide as consumers buy fewer groceries and home goods,https://www.cnbc.com/2024/05/22/target-tgt-q1-2024-earnings.html,2024-05-22T18:11:23+0000,"In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries. The Minneapolis-based discounter's revenue in the fiscal first quarter was about in line with expectations.On a call with reporters, CEO Brian Cornell said the company's results reflect ""continued soft trends in discretionary categories."" He said the company wants to make sure it offers customers value and communicates that in a clear way, with moves like its relaunched loyalty program. Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers.Target stuck with its prior full-year forecast, saying it expects comparable sales will range from flat to up 2% and adjusted earnings per share will be $8.60 to $9.60. Company leaders said the retailer is on track to return to sales growth in the second quarter.Shares of the company were down about 8% on Wednesday afternoon.Here's what Target reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:It marked the first time since November 2022 that Target missed earnings expectations. Target's net income for the period fell by less than 1% to $942 million, or $2.03 per share, from $950 million, or $2.05 per share, in the year-ago quarter. Total revenue declined about 3% from $25.32 billion in the prior year.Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items. The cheap chic retailer has been particularly hurt by the dynamic because it gets less of its sales from food than rival Walmart, which draws about 60% of its U.S. sales from groceries. That compares with roughly 20% at Target.Inflation cooled slightly in April, but the consumer price index was still up 3.4% on a year-over-year basis. The key measure gauges how much goods and services cost at the cash register.Target acknowledged that challenge with this week's price cuts. The company is also competing with other discounters, including Walmart, Aldi and Lidl, that are chasing deal-hunting shoppers.Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5. The company's CFO, John David Rainey, also said last week that customers are turning to its grocery aisles for cheaper meals because of the rising prices of fast food.In Target's first quarter, customer traffic, which includes online and stores, fell 1.9%. The average amount that customers spent on those visits dropped 1.9%, too.Digital sales grew 1.4%. It marked the first increase in digital sales in more than a year.Comparable sales, also called same-store sales, tumbled 3.7%, as shoppers bought beauty items but less of other discretionary categories like apparel and home. That decline was in line with what analysts expected, according to StreetAccount.Discretionary merchandise wasn't the only part of the store under pressure. Sales in frequency categories, food and beverage and beauty and household essentials, declined by low single digits, Chief Growth Officer Christina Hennington said on a call with reporters.Still, Hennington said Target is seeing some encouraging trends compared with recent quarters. Sales of apparel improved by nearly 4 percentage points from the fiscal fourth quarter, as customers bought outfits for spring.She said Target's limited-time collection with Diane von Furstenberg drove millions of unique visits to the retailer's website each day of the launch week and lifted the size of customers' baskets by around 15% on average.Other unique items also drove spending, she said. They included its partnership with tennis and lifestyle brand Prince to sell pickleball gear and Taylor Swift's latest album, which Target capitalized on with in-store events and photo ops.Shares of Target closed Tuesday at $155.78, bringing its market value to $72.07 billion. As of Tuesday's close, the company's shares are up about 9% so far this year, lagging the S&P 500's nearly 12% gains.– CNBC's Robert Hum contributed to this report.",CNBC,22/05/2024,"[""In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries."", ""The Minneapolis-based discounter's revenuein the fiscal first quarterwas about in line with expectations."", 'On a call with reporters, CEO Brian Cornell said the company\'s results reflect ""continued soft trends in discretionary categories.', '""He said the company wants to make sure it offers customers value and communicates that in a clear way, with moves like its relaunched loyalty program.', 'Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers.', 'Target stuck with its prior full-year forecast, saying it expects comparable sales will range from flat to up 2% and adjusted earnings per share will be $8.60 to $9.60.Company leaders said the retailer is on track to return to sales growth in the second quarter.', 'Shares of the company were down about 8% on Wednesday afternoon.', ""Here's what Target reported for thethree-month periodthat ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:It marked the first time since November 2022 that Target missed earnings expectations."", ""Target's net income for the period fell by less than 1% to $942 million, or $2.03 per share, from $950 million, or $2.05 per share, in the year-ago quarter."", 'Total revenue declined about 3% from $25.32 billion in the prior year.', 'Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items.', 'The cheap chic retailer has been particularly hurt by the dynamic because it gets less of its sales from food than rival Walmart, which draws about 60% of its U.S. sales from groceries.', 'That compares with roughly 20% at Target.', 'Inflation cooled slightly in April, but the consumer price index was still up 3.4% on a year-over-year basis.', 'The key measure gauges how much goods and services cost at the cash register.', ""Target acknowledged that challenge with this week's price cuts."", 'The company is also competing with other discounters, including Walmart, Aldi and Lidl, that are chasing deal-hunting shoppers.', 'Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5.', ""The company's CFO, John David Rainey, also said last week that customers are turning to its grocery aisles for cheaper meals because of the rising prices of fast food."", ""In Target's first quarter, customer traffic, which includes online and stores, fell 1.9%."", 'The average amount that customers spent on those visits dropped 1.9%, too.', 'Digital sales grew 1.4%.', 'It marked the first increase in digital sales in more than a year.', 'Comparable sales, also called same-store sales, tumbled 3.7%, as shoppers bought beauty items but less of other discretionary categories like apparel and home.', 'That decline was in line with what analysts expected, according to StreetAccount.', ""Discretionary merchandise wasn't the only part of the store under pressure."", 'Sales in frequency categories, food and beverage and beauty and household essentials, declined by low single digits, Chief Growth Officer Christina Hennington said on a call with reporters.', 'Still, Hennington said Target is seeing some encouraging trends compared with recent quarters.', 'Sales of apparel improved by nearly 4 percentage points from the fiscal fourth quarter, as customers bought outfits for spring.', ""She said Target's limited-time collection with Diane von Furstenberg drove millions ofunique visits to the retailer's website each day of the launch week and lifted the size of customers' baskets by around 15% on average."", 'Other unique items also drove spending, she said.', ""They included its partnership with tennis and lifestyle brand Prince to sell pickleball gear and Taylor Swift's latest album, which Target capitalized on with in-store events and photo ops."", 'Shares of Target closed Tuesday at $155.78, bringing its market value to $72.07 billion.', ""As of Tuesday's close, the company's shares are up about 9% so far this year, lagging the S&P 500's nearly 12% gains.–"", ""CNBC's Robert Hum contributed to this report.""]",0.1538125309991431,"""He said the company wants to make sure it offers customers value and communicates that in a clear way, with moves like its relaunched loyalty program.","In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries.",0.1199527162092703,Digital sales grew 1.4%.,"In this articleTarget on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries.",2024-05-22
+"How Macy’s, Kohl’s and Nordstrom are chasing Millennial, Gen Z shoppers",https://www.cnbc.com/2024/05/20/macys-kohls-nordstrom-earnings-department-stores-younger-shoppers.html,2024-05-20T20:17:50+0000,"In this articleDepartment stores are aging — and so are their customers.For more than a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything. For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales.Department stores like Macy's, Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age. Harsh scrutiny from Wall Street has contributed to a fresh attempt by Nordstrom to take the company private, and a bid by activist investors to take over Macy's and turn it into a private company. Kohl's, too, has been the target of activist investors in the past few years.Oliver Chen, a retail analyst at TD Cowen, said attracting younger customers has become more urgent, since the retailers have ""lost so much ground already.""""When you're a department store, you need to — and you should — be catering to younger and older,"" he said.Customer data illustrates the challenge for the retailers: At Kohl's, 40% of customers are baby boomers, according to Numerator, a market research firm that tracks retail trends and sales patterns with a panel of 150,000 U.S. consumers that's balanced to represent the population. At Macy's, more than a third of customers — 36% — are boomers. (Macy's data includes just its namesake stores and website, not Bloomingdale's and beauty chain Bluemercury.)Baby boomers are age 60 or older, according to Numerator's definition. The firm defines Gen X as between ages 43 and 59. Numerator puts millennials in the age 29 to 42 range, and Gen Z between 18 and 28, since it only collects data from consumers 18 or older.Nordstrom is the only one of the three that has a larger base of millennial and Gen X shoppers than baby boomers, with boomers accounting for 25% of its customer base. Its customer data includes both its namesake stores and its off-price retail chain, Nordstrom Rack, which has been known to draw in younger, fashion-forward customers hunting for deals.All three department stores have announced plans to woo new customers — including younger ones. Yet they have shared weak outlooks for the fiscal year, calling for little, if any, year-over-year sales growth.Chen said the retailers are paying more attention to the problem, since Macy's and Kohl's both have new CEOs and all three are trying to improve their private brands. The lines can help a retailer stand out because they are exclusive and often priced lower than national brands.Aging customers aren't department stores' only hurdle. The chains, like other retailers, have struggled with foot traffic and sales as consumers spend less on clothing, bedding and other discretionary items while more of their money goes toward everyday items because of inflation.To attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department.In an interview with CNBC in late March, CEO Tom Kingsbury said department stores, including Kohl's, have relied too much on coupons to get customers through their doors. That formula doesn't work for millennial and Gen Z shoppers, he said. They want compelling merchandise and clear pricing — things they're finding at off-price stores like T.J. Maxx instead.Led by Kingsbury, Kohl's is trying to capitalize on life stages that tend to spark purchases, such as decorating an apartment for the first time or having a baby. The retailer plans to add Babies R Us shops to about 200 of its stores in the fall. It is now carrying more home goods, such as lighting and wall art.Kohl's has also used Sephora shops, which it is expanding to all stores, to draw in younger shoppers and try to nudge them to other parts of the store.""When they come in for Sephora, we want to make sure we can give them product they want as well,"" Kingsbury said.Still, Kohl's doesn't expect to see immediate results from the moves. It said in March that it anticipates net sales to range from a 1% decrease to a 1% increase for the full year, and comparable sales to range from flat to 2% higher.With a new CEO at the top, Macy's wants to refresh its namesake brand and shutter stores that have dragged down the company's sales.It plans to close more than a quarter of its approximately 500 namesake stores by early 2027. At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles.The company plans to open up to 30 of its smaller off-mall Macy's stores over the next two years. The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.It's also opening more Bloomingdale's stores and more locations of Bluemercury, its beauty chain — and taking steps to woo younger customers in the process.Macy's CEO Tony Spring, who stepped into the role in February, previously led Bloomingdale's, which carries luxury brands but also has popular private labels like clothing brand Aqua. It's also known for unique customer experiences, such as limited-time events or collections that tap into pop culture moments like the ""Barbie"" movie.He's hinted more of that is coming to Macy's. The company has debuted new, exclusive clothing brands and given others a makeover. It's trying to make Macy's more of an attraction, including by having a play area in Toys R Us shops within the stores or cocktails inside of Bloomie's, its smaller, off-mall version of Bloomingdale's.Despite efforts to jolt sales, the company's forecast is muted: Macy's expects full-year net sales to range between $22.2 billion and $22.9 billion, down from $23.09 billion in the prior year. It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1.5% to a gain of 1.5% compared with the year-ago period on an owned-plus-licensed basis and including third-party marketplace sales.One of the dilemmas for Macy's? Gen Z and millennial shoppers aren't as loyal, TD Cowen's Chen said. They shop high and low, buying a luxury handbag one day and an outfit from Target, Costco or Zara another.""You can actually look better for cheaper now,"" he said.Compared with its department store rivals, Nordstrom has had more success with younger shoppers.Some of that boils down to what the Seattle-based retailer carries: Nordstrom has been quicker to sign deals with hot brands and direct-to-consumer names, such as Skims, Kim Kardashian's shapewear company; and Beis, the handbag and luggage brand started by actress Shay Mitchell. It launched Australian fashion brand Princess Polly in January and timed the debut of millennial-focused fashion brand Nasty Gal with an activation in Los Angeles coinciding with the Coachella music and arts festival.Another advantage for Nordstrom? Most of its stores are Nordstrom Rack locations, off-price stores that may have a friendlier price point for younger shoppers.Still, CEO Erik Nordstrom said on the company's March earnings call that the retailer wants to do better. He said it's starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.""Nordstrom is trying to increase its fashion-forward merchandise in a new way, too. About a month ago, it rolled out a third-party marketplace that allows it to sell a wider variety of items without taking on the risk of owning the inventory. The marketplace approach follows the model that Amazon and more recently, Walmart, has used to bulk up its online offerings.With the marketplace, Nordstrom has said it will double or triple the number of items sold through its website and app. Macy's, too, has begun using a third-party marketplace to add more items and brands.Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.Marketplaces can help department stores, as they're under pressure to tightly manage inventory yet appeal to what different age groups want, said Christine Barton, a senior partner who researches consumer habits for the Boston Consulting Group.Cost pressures can cause a retailer to place safer bets and order the same kind of merchandise that they always carry.""You take away some of that newness,"" she said. ""You going back to more tried and true brands or products and so that becomes a bit of a self-reinforcing prophecy in terms of that younger consumer.""Breaking away from those old habits is something that department stores will need to do if they want to become a staple for younger generations — and stay relevant for decades more, she said.",CNBC,20/05/2024,"['In this articleDepartment stores are aging — and so are their customers.', 'For more than a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything.', ""For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales."", ""Department stores like Macy's, Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age."", ""Harsh scrutiny from Wall Street has contributed to a fresh attempt by Nordstrom to take the company private, and a bid by activist investors to take over Macy's and turn it into a private company."", ""Kohl's, too, has been the target of activist investors in the past few years."", 'Oliver Chen, a retail analyst at TD Cowen, said attracting younger customers has become more urgent, since the retailers have ""lost so much ground already.', '""""When you\'re a department store, you need to — and you should — be catering to younger and older,"" he said.', ""Customer data illustrates the challenge for the retailers: At Kohl's, 40% of customers are baby boomers, according to Numerator, a market research firm that tracks retail trends and sales patterns with a panel of 150,000 U.S. consumers that's balanced to represent the population."", ""At Macy's, more than a third of customers — 36% — are boomers. ("", ""Macy's data includes just its namesake stores and website, not Bloomingdale's and beauty chain Bluemercury.)Baby boomers are age 60 or older, according to Numerator's definition."", 'The firm defines Gen X as between ages 43 and 59.', 'Numerator puts millennials in the age 29 to 42 range, and Gen Z between 18 and 28, since it only collects data from consumers 18 or older.', 'Nordstrom is the only one of the three that has a larger base of millennial and Gen X shoppers than baby boomers, with boomers accounting for 25% of its customer base.', 'Its customer data includes both its namesake stores and its off-price retail chain, Nordstrom Rack, which has been known to draw in younger, fashion-forward customers hunting for deals.', 'All three department stores have announced plans to woo new customers — including younger ones.', 'Yet they have shared weak outlooks for the fiscal year, calling for little, if any, year-over-year sales growth.', ""Chen said the retailers are paying more attention to the problem, since Macy's and Kohl's both have new CEOs and all three are trying to improve their private brands."", 'The lines can help a retailer stand out because they are exclusive and often priced lower than national brands.', ""Aging customers aren't department stores' only hurdle."", 'The chains, like other retailers, have struggled with foot traffic and sales as consumers spend less on clothing, bedding and other discretionary items while more of their money goes toward everyday items because of inflation.', ""To attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department."", ""In an interview with CNBC in late March, CEO Tom Kingsbury said department stores, including Kohl's, have relied too much on coupons to get customers through their doors."", ""That formula doesn't work for millennial and Gen Z shoppers, he said."", ""They want compelling merchandise and clear pricing — things they're finding at off-price stores like T.J. Maxx instead."", ""Led by Kingsbury, Kohl's is trying to capitalize on life stages that tend to spark purchases, such as decorating an apartment for the first time or having a baby."", 'The retailer plans to add Babies R Us shops to about 200 of its stores in the fall.', 'It is now carrying more home goods, such as lighting and wall art.', ""Kohl's has also used Sephora shops, which it is expanding to all stores, to draw in younger shoppers and try to nudge them to other parts of the store."", '""When they come in for Sephora, we want to make sure we can give them product they want as well,"" Kingsbury said.', ""Still, Kohl's doesn't expect to see immediate results from the moves."", 'It said in March that it anticipates net sales to range from a 1% decrease to a 1% increase for the full year, and comparable sales to range from flat to 2% higher.', ""With a new CEO at the top, Macy's wants to refresh its namesake brand and shutter stores that have dragged down the company's sales."", 'It plans to closemore than a quarterof its approximately 500 namesake stores by early 2027.', ""At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles."", ""The company plans to open up to 30 of its smaller off-mall Macy's storesover the next two years."", 'The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.', ""It's also opening more Bloomingdale's stores and more locations of Bluemercury, its beauty chain — and taking steps to woo younger customers in the process."", ""Macy's CEO Tony Spring, who stepped into the role in February, previously led Bloomingdale's, which carries luxury brands but also has popular private labels like clothing brand Aqua."", 'It\'s also known for unique customer experiences, such as limited-time events or collections that tap into pop culture moments like the ""Barbie"" movie.', ""He's hinted more of that is coming to Macy's."", 'The company has debuted new, exclusive clothing brands and given others a makeover.', ""It's trying to make Macy's more of an attraction, including by having a play area in Toys R Us shops within the stores or cocktails inside of Bloomie's, its smaller, off-mall version of Bloomingdale's."", ""Despite efforts to jolt sales, the company's forecast is muted: Macy's expects full-year net sales to range between $22.2 billion and $22.9 billion, down from $23.09 billion in the prior year."", 'It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1.5% to a gain of 1.5% compared with the year-ago period on an owned-plus-licensed basis and including third-party marketplace sales.', ""One of the dilemmas for Macy's?"", ""Gen Z and millennial shoppers aren't as loyal, TD Cowen's Chen said."", 'They shop high and low, buying a luxury handbag one day and an outfit from Target, Costco or Zara another.', '""You can actually look better for cheaper now,"" he said.', 'Compared with its department store rivals, Nordstrom has had more success with younger shoppers.', ""Some of that boils down to what the Seattle-based retailer carries: Nordstrom has been quicker to sign deals with hot brands and direct-to-consumer names, such as Skims, Kim Kardashian's shapewear company; and Beis, the handbag and luggage brand started by actress Shay Mitchell."", 'It launched Australian fashion brand Princess Polly in January and timed the debut of millennial-focused fashion brand Nasty Gal with an activation in Los Angeles coinciding with the Coachella music and arts festival.', 'Another advantage for Nordstrom?', 'Most of its stores are Nordstrom Rack locations, off-price stores that may have a friendlier price point for younger shoppers.', ""Still, CEO Erik Nordstrom said on the company's March earnings call that the retailer wants to do better."", 'He said it\'s starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.', '""Nordstrom is trying to increase its fashion-forward merchandise in a new way, too.', 'About a month ago, it rolled out a third-party marketplace that allows it to sell a wider variety of items without taking on the risk of owning the inventory.', 'The marketplace approach follows the model that Amazon and more recently, Walmart, has used to bulk up its online offerings.', 'With the marketplace, Nordstrom has said it will double or triple the number of items sold through its website and app.', ""Macy's, too, has begun using a third-party marketplace to add more items and brands."", ""Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week."", ""Marketplaces can help department stores, as they're under pressure to tightly manage inventory yet appeal to what different age groups want, said Christine Barton, a senior partner who researches consumer habits for the Boston Consulting Group."", 'Cost pressures can cause a retailer to place safer bets and order the same kind of merchandise that they always carry.', '""You take away some of that newness,"" she said. ""', 'You going back to more tried and true brands or products and so that becomes a bit of a self-reinforcing prophecy in terms of that younger consumer.', '""Breaking away from those old habits is something that department stores will need to do if they want to become a staple for younger generations — and stay relevant for decades more, she said.']",0.2190840118688906,"Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.","For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales.",0.0798774834336905,"He said it's starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.","Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.",2024-05-22
+How AI and bionics are helping Ukrainian soldiers return to action,https://edition.cnn.com/2024/05/22/tech/how-ai-and-bionics-are-helping-ukrainian-soldiers-return-to-action/index.html,"
+  Published
+        9:11 AM EDT, Wed May 22, 2024
+    ","Valera Kucherenko had already served a term in the Ukrainian army when Russia invaded in 2022. But he joined back up and, on a fateful October night in 2023, lost both hands in a grenade attack.
+    
+            It’s a story that’s all too common for Ukrainian soldiers. Since the start of the war, an estimated 20,000 Ukrainians have lost limbs. Such injuries typically end military careers, but advancements in bionics are enabling some veterans to resume what they see as their duty.
+    
+            “For me, prosthetics were made in such a way that I’m returning back to the army,” Kucherenko told CNN.
+    
+            Kucherenko was fitted with two bionic hands that are new to the market. The Esper Hand is the first product from Esper Bionics, a Ukrainian-US based company focused on next-generation prosthetics.
+    
+            Artificial Intelligence is disrupting many industries, but it is also offering up unprecedented solutions. In the field of bionic prosthetics, AI or machine learning can help patients who’ve lost limbs regain functions – and perhaps even gain functions they didn’t originally have with human limbs. At least that’s the hope of those at Esper.
+    
+            “I think AI will be the next step in bionics,” says Dima Gazda, CEO of Esper Bionics.
+    
+            Gazda, a physician and engineer from Ukraine, worked with his team for several years to perfect the Esper Hand and says their systems have been “built for AI since day one.”
+    
+            In this bionic hand, AI helps the prosthetic quickly learn its user’s behavior and choose hand grips the user will need.
+    
+            “If I take cup from a table several times, tomorrow, the system will understand,” says Gazda. The AI-empowered hand can also detect muscle activity.
+    
+            It’s not just AI that is helping users regain their functions quicker. Bionic prosthetics are also being built more precisely to mimic human limbs. The Esper Hand has 6 different motors – one for each finger and two for the thumb. This allows each finger to move separately.
+    
+            According to Esper Bionics, 70 Ukrainian soldiers are currently serving with Esper Hands, but the need greatly outnumbers the supply. Esper says there are currently around 170 people on the waitlist. With the fighting in Ukraine continuing every day, the number of those in need will continue to climb.
+    
+            Inside an office complex about 20 minutes from Minneapolis is a clinic run by the non-profit Protez Foundation. Every morning, a group of Ukrainian veterans gather inside the clinic and go over the schedule for the day. Each one of the veterans is missing at least one limb, in some cases two to three. Their schedules will consist of prosthetic fittings and training. Those with prosthetic legs will practice walking; those with prosthetic hands, like Kucherenko, will practice movements like building with blocks.
+    
+            The clinic is run by Yakov Gradinar, the Protez Foundation’s chief medical officer. Gradinar is a Ukrainian prosthetist living in Minnesota, who co-founded Protez a couple of months after the war started in 2022. “Protez” means “prosthetic” in Ukrainian.
+    
+            “You search for meaning in your life,” Gradinar said. “Ukraine needed prosthetics, and I’m a prosthetist. I can help.”
+    
+            The Protez Foundation and Esper Bionics have partnered together through a special initiative to help Ukrainians. Esper Bionics sells the Esper Hand (which normally sell for around $20,000) to Protez at manufacturing costs, and then Protez fits them to users for free.
+    
+            Gradinar has noted the speed with which veterans are adapting to the Esper Hands. His patient Valera Kucherenko – who lost both arms in that grenade attack — is now back in Ukraine with plans to re-join the army and train soldiers.
+    
+            The veterans’ personal grit and motivation play a big role. But so too does the technology.
+    
+            “We often talk about negativity [around AI], but we don’t talk about the part that technology can be adapting itself,” the prosthetist says. The hope is the technology will help bionic prosthetics get better and smarter.
+    
+            Esper is currently working on a leg model and an exoskeleton. The long view for Esper is health devices that help all of humanity, but right now, there is a central focus on helping those in Ukraine.
+    
+            “Our dedication is to help people who have the biggest need,” Gazda said. “I think by working together with the Protez Foundation, we are making Ukraine stronger.”",CNN,22/05/2024,"['Valera Kucherenko had already served a term in the Ukrainian army when Russia invaded in 2022.', 'But he joined back up and, on a fateful October night in 2023, lost both hands in a grenade attack.', 'It’s a story that’sall too common for Ukrainian soldiers.', 'Since the start of the war, an estimated 20,000 Ukrainianshave lost limbs.', 'Such injuries typicallyendmilitary careers, but advancementsin bionics areenablingsome veterans to resume what they see as theirduty.', '“For me, prosthetics were made in such a way that I’m returning back to the army,” Kucherenkotold CNN.', 'Kucherenko was fitted with two bionic hands that arenew to the market.', 'The Esper Hand is the first product from Esper Bionics, a Ukrainian-US based company focused on next-generationprosthetics.', 'ArtificialIntelligenceis disruptingmany industries, but it is also offering up unprecedented solutions.', 'In the field of bionic prosthetics, AI or machine learning can helppatients who’ve lost limbs regain functions – andperhaps even gain functions theydidn’toriginallyhave with human limbs.', 'At least that’s the hope of those at Esper.', '“I think AI will be the next step in bionics,” says Dima Gazda, CEO of Esper Bionics.', 'Gazda, a physician and engineer from Ukraine, worked with histeamfor several yearsto perfect the Esper Hand and says their systems havebeen “built for AI since day one.”', 'In this bionic hand, AI helps the prostheticquicklylearn its user’s behaviorandchoose hand grips the userwill need.', '“If I take cup from a table several times, tomorrow, the system will understand,” says Gazda.', 'TheAI-empoweredhand can also detect muscle activity.', 'It’s not just AI that is helping users regain their functions quicker.', 'Bionic prosthetics are also being built more precisely to mimic human limbs.', 'The Esper Hand has 6 different motors – one for each finger and two for the thumb.', 'This allowseach finger to move separately.', 'According to Esper Bionics, 70 Ukrainian soldiers are currently serving with Esper Hands, but the need greatly outnumbers the supply.', 'Esper says there are currently around 170 people on the waitlist.', 'With the fighting in Ukraine continuing every day, the number of those in need will continue to climb.', 'Inside an office complex about 20 minutes from Minneapolis is a clinic run by the non-profitProtez Foundation.', 'Every morning, a group of Ukrainian veterans gatherinside the clinic and go over the schedule for the day.', 'Each one of the veterans is missing at least one limb, in some cases two to three.', 'Their schedules will consist of prosthetic fittings and training.', 'Those with prosthetic legs will practice walking; those with prosthetic hands, like Kucherenko, will practice movements like building with blocks.', 'The clinic is run by Yakov Gradinar, the Protez Foundation’s chief medical officer.', 'Gradinar is a Ukrainian prosthetist living in Minnesota, who co-founded Protez a couple of months after the war started in 2022.“Protez”means“prosthetic”in Ukrainian.', '“You search for meaning in your life,” Gradinar said. “', 'Ukraine needed prosthetics, and I’m a prosthetist.', 'I can help.”', 'The Protez Foundation and Esper Bionics have partnered together through a special initiative to help Ukrainians.', 'Esper Bionics sells the Esper Hand (which normally sell for around $20,000) to Protez at manufacturing costs, and then Protezfits them to users for free.', 'Gradinar has noted the speed with which veterans are adapting to the Esper Hands.', 'His patient Valera Kucherenko – who lost both arms in that grenade attack — is now back in Ukraine with plans to re-join the army and train soldiers.', 'The veterans’ personal grit and motivation play a big role.', 'But so too does the technology.', '“We often talk about negativity [around AI], but we don’t talk about the part that technology can be adapting itself,” the prosthetist says.', 'The hope is the technology will help bionic prosthetics get better and smarter.', 'Esper iscurrently working on a leg model andan exoskeleton.', 'The long view for Esper is health devices thathelp all of humanity, but right now, there is a central focus on helping those in Ukraine.', '“Our dedication is to help people who have the biggest need,” Gazda said. “', 'I think by working together with the Protez Foundation, we are making Ukraine stronger.”']",0.1236599801481161,The hope is the technology will help bionic prosthetics get better and smarter.,"But he joined back up and, on a fateful October night in 2023, lost both hands in a grenade attack.",0.7519414573907852,"I think by working together with the Protez Foundation, we are making Ukraine stronger.”","Since the start of the war, an estimated 20,000 Ukrainianshave lost limbs.",2024-05-22
+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.",2024-05-22
+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.  Former Post Office chief executive Paula Vennells is giving evidence to the public inquiry into the scandal, the first time she has spoken publicly about it in almost a decade.  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 102 convictions had been overturned by March 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. The fifth phase began on Tuesday 9 April, with campaigner Alan Bates the first to appear.  He 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. The inquiry also heard from 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.  Ms Vennells, chief executive between 2012 and 2019, is giving evidence for three days.  She began by saying sorry to ""the subpostmasters and their families who have suffered as a result of all that the inquiry has been looking into for so long"". She also restated the apology in her written witness statement to a number of campaigners and Lord Arbuthnot that she and her colleagues had ""made their work so much harder"". 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"". 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.', 'Former Post Office chief executive Paula Vennells is giving evidence to the public inquiry into the scandal, the first time she has spoken publicly about it in almost a decade.', '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 102 convictions had been overturned by March 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.', 'The fifth phase began on Tuesday 9 April, with campaigner Alan Bates the first to appear.', 'He 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.', 'The inquiry also heard from 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.', 'Ms Vennells, chief executive between 2012 and 2019, is giving evidence for three days.', 'She began by saying sorry to ""the subpostmasters and their families who have suffered as a result of all that the inquiry has been looking into for so long"".', 'She also restated the apology in her written witness statement to a number of campaigners and Lord Arbuthnot that she and her colleagues had ""made their work so much harder"".', '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"".', '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"".']",-0.0514311879411465,"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.",-0.4761635959148407,"She also restated the apology in her written witness statement to a number of campaigners and Lord Arbuthnot that she and her colleagues had ""made their work so much harder"".","Marriages broke down, and some families believe the stress led to serious health conditions, addiction and even premature death.",2024-05-22
+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.",2024-05-22
+Many high schools are curbing the use of AI. These schools are leaning in,https://edition.cnn.com/2024/05/17/tech/ai-high-school/index.html,"
+  Updated
+        10:11 AM EDT, Fri May 17, 2024
+    ","At Princeton High School, students are trying to combat the rapid decline of indigenous languages with some unlikely help: a furry, wide-eyed stuffed animal named Che’w.
+    
+            But Che’w isn’t a standard plush toy. He’s a wildly intelligent generative AI robot that speaks Mam, a Mayan language spoken in the western highlands of Guatemala and Mexico and by a small population of the school’s students. The language is currently at risk of extinction, according to UNESCO; the students hope Che’w can help change that.
+    
+            At a time when some high schools are restricting the use of AI in the classroom, others, like Princeton High School, are leaning into it.
+    
+            In the short 18 months since the launch of viral chatbot ChatGPT, generative AI has emerged as a revolutionary technology in the field of artificial intelligence. Its capabilities have impressed both users and experts with its ability to perform a range of tasks, from generating creative content, essays and games to conducting mathematical equations, summarizing complicated concepts and more. All that is already reshaping various parts of our lives, including education.
+    
+            But the technology has leaped ahead far faster, in many cases, than schools’ understanding of how to use it. And with new products out this week from Google’s XYZ initiative and OpenAI’s new GPT-4o, many teachers and districts realize they cannot avoid the subject.
+    
+            Dr. Joy Barnes-Johnson, the science administrator for PHS, said the school is “trying to embrace AI” as much as possible. “It’s a tool, just like a pencil is technology that helps communication.”
+    
+            She said the school will host an AI summit this summer with its teachers and administrators to have a conversation about how generative AI should or shouldn’t be used in the classroom.
+    
+            “In the beginning of the school year, we talked about how AI is the world we’re in now and we have a responsibility to prepare kids for the world they will inherit,” she said. “The idea is that it will help people connect and learn, so we [as teachers] have to not be afraid of it.”
+    
+            When ChatGPT launched in November 2022, teachers worried that the tool, which can generate convincing responses and essays in response to user prompts, could make it easier for students to cheat on assignments. Some also worried ChatGPT and similar tools could be used to spread inaccurate information.
+    
+            Not long after its launch, New York City public schools became one of the first school districts to ban students and teachers from using ChatGPT on the district’s networks and devices.
+    
+            Other schools reacted similarly in the weeks and months that followed, including the Los Angeles Unified School District and Seattle Public Schools, which blocked access to ChatGPT on their networks.
+    
+            Some of these districts have evolved their policies over time. The LAUSD, for example, has since launched a chatbot named “Ed” to act as a student advisor, with the ability to inform parents about information ranging from children’s test results to their school attendance.
+    
+            Many schools also continue to grapple with how to best approach the technology inside the classroom.
+    
+            “There is acceptance by educators, but we’re still seeing a lot of caution,” said Noel Candelaria, the secretary-treasurer of the National Education Association who is leading the charge around the union’s AI policy. “The challenge is there isn’t a lot of guidance on the district level, so the concern educators have is that it’s being something done to them, instead of with them.”
+    
+            He added: “There are also major concerns around data confidentiality and where data is being pulled from.”
+    
+            Candelaria told CNN that educators feel strongly that they want their voice to influence how it can be applied to schools. The NEA is developing a task force with educators across the country to address many of these issues.
+    
+            Some high schools around the country are trying to teach students how to use other forms of artificial intelligence for a greater good. At one prestigious public school in New York City, Stuyvesant High School, students created an app for the blind that uses artificial intelligence and tactile feedback to help people detect threats and navigate obstacles. 
+    
+            Similarly, at STEM School Highlands Ranch in Colorado, a team of students developed an AI-powered wildlife detection system called Project Deer to help cut down on car crashes. Although researchers have tried to combat such accidents before, studies have shown wildlife don’t consistently react to any one stimulus. So the students instead derived an AI-based predictive solution to alert the driver to an imminent threat on the road.
+    
+            Using four $5 infrared detection sensors placed on vehicles, the students developed a system for AI to scan the surroundings and emit a high-pitched sound when an animal’s body heat is detected, a signal that may help to scare the animal away.
+    
+            The school, which was the Colorado State Winner in Samsung’s annual Solve for Tomorrow competition, said it is partnering with the University of Colorado in Boulder this summer to help boost its success rate. The Solve for Tomorrow contest featured more than 1,000 schools submitting STEM-based solutions to real-world problems. Samsung told CNN there was a “definite uptick in” submitted AI-powered innovations this year compared to previous years.
+    
+            Computer science teacher Tylor Chacon told CNN the group’s big vision is to one day have the technology regulated or adopted by the state for greater use.
+    
+            School administration has told teachers to help create rubrics or lesson plans, Chacon told CNN. “We’ve been encouraged to embrace it and look into ways we can use it to maximize our own job effectiveness and ease the burden on us,” he said.
+    
+            It’s an increasingly common trend among teachers to use AI tools to create assignments, quizzes, polls, videos and interactives for classroom use. Some are even turning to AI tools and platforms — such as ChatGPT, Writable, Grammarly and EssayGrader — to assist with grading papers or writing feedback, a practice that is also raising ethical considerations.
+    
+            Still, as schools continue to weigh the benefits or disadvantages to teaching and using artificial intelligence, some teachers and administrators feel strongly that it’s the future.
+    
+            At Princeton High, a group of about 14 students met during school hours for months to build out Che’w’s conversational capabilities, drawn from artificial intelligence neural networks that are trained to recognize patterns, solve problems and understand words, sentences and phrases from spoken and written language.
+    
+            Che’w, which translates to “star” in Mam, was trained to understand the language by the students so it can serve as a personal tutor. The robot is also trained to speak Spanish and English.
+    
+            “It doesn’t lose patience or get sick of talking to them,” said Mark Eastburn, Princeton High School’s science, research and engineering teacher. “It’s taking [AI] off the screen and putting it onto a physical structure that looks like a friend that can help you do whatever you need to do.”
+    
+            In April, the students were one of the top three National Winners at the Samsung Solve For Tomorrow’s competition.
+    
+            AI is now a part of students’ lives, Eastburn said.
+    
+            “And it will be there when they’re in college and also in their careers,” he added, “so they might as well learn and use it in appropriate ways in high school, if not even earlier.”",CNN,17/05/2024,"['At Princeton High School, students are trying to combat the rapid decline of indigenous languages with some unlikely help: a furry, wide-eyed stuffed animal named Che’w.', 'But Che’w isn’t a standard plush toy.', 'He’s a wildly intelligent generative AI robot that speaks Mam, a Mayan language spoken in the western highlands of Guatemala and Mexico and by a small population of the school’s students.', 'The language is currently at risk of extinction, according to UNESCO; the students hope Che’w can help change that.', 'At a time when some high schools are restricting the use of AI in the classroom, others, like Princeton High School, are leaning into it.', 'In the short 18 months since the launch of viral chatbot ChatGPT, generative AI has emerged as a revolutionary technology in the field of artificial intelligence.', 'Its capabilities have impressed both users and experts with its ability to perform a range of tasks, from generating creative content, essays and games to conducting mathematical equations, summarizing complicated concepts and more.', 'All that is already reshaping various parts of our lives, including education.', 'But the technology has leaped ahead far faster, in many cases, than schools’ understanding of how to use it.', 'And with new products out this week from Google’s XYZ initiative and OpenAI’s new GPT-4o, many teachers and districts realize they cannot avoid the subject.', 'Dr. Joy Barnes-Johnson, the science administrator for PHS, said the school is “trying to embrace AI” as much as possible. “', 'It’s a tool, just like a pencil is technology that helps communication.”', 'She said the school will host an AI summit this summer with its teachers and administrators to have a conversation about how generative AI should or shouldn’t be used in the classroom.', '“In the beginning of the school year, we talked about how AI is the world we’re in now and we have a responsibility to prepare kids for the world they will inherit,” she said. “', 'The idea is that it will help people connect and learn, so we [as teachers] have to not be afraid of it.”', 'When ChatGPT launched in November 2022, teachers worried that the tool, which can generate convincing responses and essays in response to user prompts, could make it easier for students to cheat on assignments.', 'Some also worried ChatGPT and similar tools could be used to spread inaccurate information.', 'Not long after its launch, New York City public schools became one of the first school districts to ban students and teachers from using ChatGPT on the district’s networks and devices.', 'Other schools reacted similarly in the weeks and months that followed, including the Los Angeles Unified School District and Seattle Public Schools, which blocked access to ChatGPT on their networks.', 'Some of these districts have evolved their policies over time.', 'The LAUSD, for example, has since launched a chatbot named “Ed” to act as a student advisor, with the ability to inform parents about information ranging from children’s test results to their school attendance.', 'Many schools also continue to grapple with how to best approach the technology inside the classroom.', '“There is acceptance by educators, but we’re still seeing a lot of caution,” said Noel Candelaria, the secretary-treasurer of the National Education Association who is leading the charge around the union’s AI policy. “', 'The challenge is there isn’t a lot of guidance on the district level, so the concern educators have is that it’s being something done to them, instead of with them.”', 'He added: “There are also major concerns around data confidentiality and where data is being pulled from.”', 'Candelaria told CNN that educators feel strongly that they want their voice to influence how it can be applied to schools.', 'The NEA is developing a task force with educators across the country to address many of these issues.', 'Some high schools around the country aretrying to teach students how to use other forms of artificial intelligence for a greater good.', 'At one prestigious public school in New York City, Stuyvesant High School, students created an app for the blind that uses artificial intelligence and tactile feedback to help people detect threats and navigate obstacles.', 'Similarly, at STEM School Highlands Ranch in Colorado, a team of students developed an AI-poweredwildlife detection system called Project Deer to help cut down on car crashes.', 'Although researchers have tried to combat such accidents before, studies have shown wildlife don’t consistently react to any one stimulus.', 'So the students instead derived an AI-based predictive solution to alert the driver to an imminent threat on the road.', 'Using four $5 infrared detection sensors placed on vehicles, the students developed a system forAI to scan the surroundings and emit a high-pitched sound when an animal’s body heat is detected, a signal that may help to scare the animal away.', 'The school, which was theColorado State Winner in Samsung’s annual Solve for Tomorrow competition, said it is partnering with the University of Colorado in Boulder this summer to help boost its success rate.', 'The Solve for Tomorrow contest featured more than 1,000 schools submitting STEM-based solutions to real-world problems.', 'Samsung told CNN there was a “definite uptick in” submitted AI-powered innovations this year compared to previous years.', 'Computer science teacher Tylor Chacon told CNN the group’s big vision is to one day have the technology regulated or adopted by the state for greater use.', 'School administration has told teachers to help create rubrics or lesson plans, Chacon told CNN. “', 'We’ve been encouraged to embrace it and look into ways we can use it to maximize our own job effectiveness and ease the burden on us,” he said.', 'It’s an increasingly common trend among teachers to use AI tools to create assignments, quizzes, polls, videos and interactives for classroom use.', 'Some are even turning to AI tools and platforms — such as ChatGPT, Writable, Grammarly and EssayGrader — to assist with grading papers or writing feedback, a practice that is also raising ethical considerations.', 'Still, as schools continue to weigh the benefits or disadvantages to teaching and using artificial intelligence, some teachers and administrators feel strongly that it’s the future.', 'At Princeton High, a group of about 14 students met during school hours for months to build out Che’w’s conversational capabilities, drawn from artificial intelligence neural networks that are trained to recognize patterns, solve problems and understand words, sentences and phrases from spoken and written language.', 'Che’w, which translates to “star” in Mam, was trained to understand the language by the students so it can serve as a personal tutor.', 'The robot is also trained to speak Spanish and English.', '“It doesn’t lose patience or get sick of talking to them,” said Mark Eastburn, Princeton High School’s science, research and engineering teacher. “', 'It’s taking [AI] off the screen and putting it onto a physical structure that looks like a friend that can help you do whatever you need to do.”', 'In April, the students were one of the top three National Winners at the Samsung Solve For Tomorrow’s competition.', 'AI is now a part of students’ lives, Eastburn said.', '“And it will be there when they’re in college and also in their careers,” he added, “so they might as well learn and use it in appropriate ways in high school, if not even earlier.”']",0.2301947966168704,"The school, which was theColorado State Winner in Samsung’s annual Solve for Tomorrow competition, said it is partnering with the University of Colorado in Boulder this summer to help boost its success rate.","“It doesn’t lose patience or get sick of talking to them,” said Mark Eastburn, Princeton High School’s science, research and engineering teacher. “",0.5956538140773773,Samsung told CNN there was a “definite uptick in” submitted AI-powered innovations this year compared to previous years.,"When ChatGPT launched in November 2022, teachers worried that the tool, which can generate convincing responses and essays in response to user prompts, could make it easier for students to cheat on assignments.",2024-05-22
+Frontier Airlines does away with change fees in budget airline pricing overhaul,https://www.cnbc.com/2024/05/17/frontier-airlines-change-fees-scrapped.html,2024-05-17T17:18:08+0000,"In this articleFrontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called ""junk fees.""The change is part of an overhaul announced on Friday of the budget airline's longtime pricing model, which brings customers in the door with eye-catching low base fares but charges a fee for everything else such as seating assignments and carry-on baggage. That model is shared by fellow discounter Spirit Airlines.Frontier said it will start offering packages that include some of those add-ons, among others, such as early boarding. While some fares will still allow travelers to add on options a la carte, ""we expect that option to be a minority of customers,"" Frontier CEO Barry Biffle told CNBC.A new ""economy"" bundle that comes with a carry-on and a seat assignment will start at $30 more than a basic fare, while a ""premium"" bundle that offers those perks plus earlier boarding will be $50 more than the basic fare. For at least $100 more than a basic fare, ""business"" bundle travelers will also be able to check two bags and get a seat at the front of the plane with more room.Last month, the U.S. Department of Transportation issued a final rule that requires airlines to tell customers about fees, including those for checked or carry-on baggage, up front, a change the DOT said would save travelers more than half a billion dollars a year.Frontier currently charges up to $99 to change flights if the change is made within a week of the trip, according to the airline's website. Larger rivals Delta, American and United scrapped change fees during the Covid-19 pandemic for travelers who were booked in standard economy class and above. Southwest Airlines does not charge customers to change their tickets.""The truth is the big four [U.S. airlines] all have no change fees on the majority of their products, so we were not as desirable,"" Biffle said. He said change fees were a ""top complaint"" of travelers. Travelers who buy the cheapest option on Frontier will still have to pay to change their flights.Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.",CNBC,17/05/2024,"['In this articleFrontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called ""junk fees.', '""The change is part of an overhaul announced on Friday of the budget airline\'s longtime pricing model, which brings customers in the door with eye-catching low base fares but charges a fee for everything else such as seating assignments and carry-on baggage.', 'That model is shared by fellow discounter Spirit Airlines.', 'Frontier said it will start offering packages that include some of those add-ons, among others, such as early boarding.', 'While some fares will still allow travelers to add on options a la carte, ""we expect that option to be a minority of customers,"" Frontier CEO Barry Biffle told CNBC.A new ""economy"" bundle that comes with a carry-on and a seat assignment will start at $30 more than a basic fare, while a ""premium"" bundle that offers those perks plus earlier boarding will be $50 more than the basic fare.', 'For at least $100 more than a basic fare, ""business"" bundle travelers will also be able to check two bags and get a seat at the front of the plane with more room.', 'Last month, the U.S. Department of Transportation issued a final rule that requires airlines to tell customers about fees, including those for checked or carry-on baggage, up front, a change the DOT said would save travelers more than half a billion dollars a year.', ""Frontier currently charges up to $99 to change flights if the change is made within a week of the trip, according to the airline's website."", 'Larger rivals Delta, American and United scrapped change fees during the Covid-19 pandemic for travelers who were booked in standard economy class and above.', 'Southwest Airlines does not charge customers to change their tickets.', '""The truth is the big four [U.S. airlines] all have no change fees on the majority of their products, so we were not as desirable,"" Biffle said.', 'He said change fees were a ""top complaint"" of travelers.', 'Travelers who buy the cheapest option on Frontier will still have to pay to change their flights.', 'Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.']",0.0549664497380016,"Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.","""The change is part of an overhaul announced on Friday of the budget airline's longtime pricing model, which brings customers in the door with eye-catching low base fares but charges a fee for everything else such as seating assignments and carry-on baggage.",0.3490889271100362,"Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.","""The truth is the big four [U.S. airlines] all have no change fees on the majority of their products, so we were not as desirable,"" Biffle said.",2024-05-22
+Are consumers pulling back on spending? It depends on which CEO you ask,https://www.cnbc.com/2024/05/20/consumer-pullback-ceos.html,2024-05-20T17:30:25+0000,"In this articleWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren't.The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald's, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending. Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.The takeaway? Consumers have become more selective about how and where they spend their dollars.""Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,"" McDonald's CEO Chris Kempczinski said on the company's conference call in late April.For more than two years, consumers have dealt with sharply rising prices. This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches, thanks to stabilizing commodity prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch.The consumer price index rose 3.4% over the last 12 months through April, according to Department of Labor data. On Tuesday, a day before the monthly CPI report, Federal Reserve Chair Jerome Powell reiterated that inflation is falling more slowly than expected, which likely means the central bank won't be cutting interest rates anytime soon.Making matters worse, many consumers have run through the savings they accumulated during the pandemic when they were collecting stimulus checks in place of traveling. Instead, many are paying their everyday bills with credit cards as they face higher costs for gas, rent and groceries. The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.Aurelia Concepcion, 57, a case manager in New York, said she is planning only essential travel this year, drawing the line at visiting family in Georgia and Ohio.""Everything is too high ... taxis, rent."" Concepcion says she avoids restaurants: ""It's too expensive. I'd rather prepare my own food.""Concepcion isn't the only consumer changing spending habits. Executives have been warning about a more cautious spending environment for awhile. But it's finally starting to show up in some companies' quarterly results.KFC, Pizza Hut and Starbucks were among the restaurant companies that reported declining same-store sales in the most recent quarter. Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said. And Apple iPhone sales fell 10% in the tech company's latest quarter, suggesting consumers weren't upgrading to the latest version of the smartphone in the patterns that they have in the past.""Some of the things that have seen the biggest run-up in prices over the last few years are items that confront people on a daily basis: the cost of eating out, the cost of groceries and the costs of fuel and gasoline and rents,"" said Columbia Business School economics professor Brett House. ""Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that.""Big-box giant Walmart said last Thursday that shoppers are prioritizing buying food and health-related items over general merchandise, like home goods and electronics. The retailer has reported that trend for several quarters now. Finance chief John David Rainey told CNBC that Walmart's grocery business has gotten a boost from the widening gap between restaurant prices and the cost of cooking at home. Lower-income consumers are struggling more than other demographics. They couldn't save as much during the pandemic, and evidence suggests that they've exhausted those savings, according to House. On top of that, rent prices have surged, and low-income consumers are more likely to rent than own.PepsiCo, for one, particularly called out a weaker low-income consumer. The Gatorade owner saw volume for its North American beverage business fall 5% in the quarter.""The lower-income consumer in the U.S. is stretched ... [and] is strategizing a lot to make their budgets get to the end of the month,"" CEO Ramon Laguarta told analysts on the company's conference call in April.Pepsi is leaning into promotions and discounts to lure back the low-income shopper. Other companies are similarly hoping deals will attract more customers. McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending.""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Ed Bastian, CEO of Delta Air Lines, the most profitable U.S. carrier, said in an interview in April.Delta and its rival United last month each forecast earnings ahead of analysts' estimates for the second quarter. Both carriers offer sprawling global networks and have benefited from a rebound in international travel in the wake of the pandemic, particularly to Europe and popular destinations in Asia for U.S. travelers like Japan. Both carriers have predicted record summer travel demand.Those airline trends align with a broader consumer shift that started after pandemic lockdowns: spending more money on experiences rather than apparel or electronics.""We're still spending disproportionately on activities and services rather than on goods,"" House said.Delta and United are also capitalizing on travelers who have been willing to pay up for more expensive seats, like first class or premium economy. U.S. airlines have been racing to add more high-priced seating to their planes and grow lounges for top spenders. Inflation hasn't hurt high-income consumers as much as it has the budget-conscious, giving them more room to spend.Higher-income consumers have also bolstered fast-casual restaurant chains, like Chipotle, that come in at a slightly higher price point than the cheapest options. The burrito chain's same-store sales grew 7% during the first quarter, fueled by a 5.4% increase in foot traffic. Chipotle has a strong perception of value among diners, CEO Brian Niccol said on the company's conference call. Executives have also previously emphasized that most of its customers come from higher-income brackets.Even Walmart have been attracting consumers with deeper pockets. As customers pay more for groceries, the discounter has attracted more affluent customers and stolen market share from rivals like Target, which has historically been more popular with wealthier shoppers. The company also credited its remodeled stores and expanded merchandise on its website for appealing to households that have a more than $100,000 annual income. Target is scheduled to report quarterly earnings on Wednesday. Not all companies with higher-income customer bases have seen the same strong demand, however. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.For example, athleisure brand Lululemon's U.S. sales lagged in its most recent quarter, which CEO Calvin McDonald attributed in part to a shortage in key product sizes and not enough colorful items.Then there's Starbucks, which has always positioned itself as a premium coffee brand. The coffee giant announced a surprise decline in its U.S. same-store sales and lowered its full-year forecast, sending its shares tumbling. While CEO Laxman Narasimhan gave a laundry list of factors explaining the weak quarter, including a more value-minded consumer, Bank of America analyst Sara Senatore wrote in a research note that a social media boycott might still be the primary culprit.And Peloton's latest report was the latest in a string of disappointing results for the company. Earlier this month, the pandemic darling fired its chief executive and announced plans to lay off 15% of its staff as fewer consumers bought its pricey equipment or its much cheaper fitness subscriptions in its latest fiscal quarter.""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton's trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.— CNBC's Melissa Repko and Gabrielle Fonrouge contributed reporting to this story.",CNBC,20/05/2024,"['In this articleWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers.', ""But Big Macs and kitchen remodels aren't."", ""The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald's, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending."", 'Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.', 'The takeaway?', 'Consumers have become more selective about how and where they spend their dollars.', '""Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,"" McDonald\'s CEO Chris Kempczinski said on the company\'s conference call in late April.', 'For more than two years, consumers have dealt with sharply rising prices.', 'This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches, thanks to stabilizing commodity prices.', ""But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch."", 'The consumer price index rose 3.4% over the last 12 months through April, according to Department of Labor data.', ""On Tuesday, a day before the monthly CPI report, Federal Reserve Chair Jerome Powell reiterated that inflation is falling more slowly than expected, which likely means the central bank won't be cutting interest rates anytime soon."", 'Making matters worse, many consumers have run through the savings they accumulated during the pandemic when they were collecting stimulus checks in place of traveling.', 'Instead, many are paying their everyday bills with credit cards as they face higher costs for gas, rent and groceries.', 'The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.', 'Aurelia Concepcion, 57, a case manager in New York, said she is planning only essential travel this year, drawing the line at visiting family in Georgia and Ohio.', '""Everything is too high ... taxis, rent.""', 'Concepcion says she avoids restaurants: ""It\'s too expensive.', ""I'd rather prepare my own food."", '""Concepcion isn\'t the only consumer changing spending habits.', 'Executives have been warning about a more cautious spending environment for awhile.', ""But it's finally starting to show up in some companies' quarterly results."", 'KFC, Pizza Hut and Starbucks were among the restaurant companies that reported declining same-store sales in the most recent quarter.', ""Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said."", ""And Apple iPhone sales fell 10% in the tech company's latest quarter, suggesting consumers weren't upgrading to the latest version of the smartphone in the patterns that they have in the past."", '""Some of the things that have seen the biggest run-up in prices over the last few years are items that confront people on a daily basis: the cost of eating out, the cost of groceries and the costs of fuel and gasoline and rents,"" said Columbia Business School economics professor Brett House. ""', 'Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that.', '""Big-box giant Walmart said last Thursday that shoppers are prioritizing buying food and health-related items over general merchandise, like home goods and electronics.', 'The retailer has reported that trend for several quarters now.', ""Finance chief John David Rainey told CNBC that Walmart's grocery business has gotten a boost from the widening gap between restaurant prices and the cost of cooking at home."", 'Lower-income consumers are struggling more than other demographics.', ""They couldn't save as much during the pandemic, and evidence suggests that they've exhausted those savings, according to House."", 'On top of that, rent prices have surged, and low-income consumers are more likely to rent than own.', 'PepsiCo, for one, particularly called out a weaker low-income consumer.', 'The Gatorade owner saw volume for its North American beverage business fall 5% in the quarter.', '""The lower-income consumer in the U.S. is stretched ... [and] is strategizing a lot to make their budgets get to the end of the month,"" CEO Ramon Laguarta told analysts on the company\'s conference call in April.', 'Pepsi is leaning into promotions and discounts to lure back the low-income shopper.', 'Other companies are similarly hoping deals will attract more customers.', ""McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending."", '""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Ed Bastian, CEO of Delta Air Lines, the most profitable U.S. carrier, said in an interview in April.', ""Delta and its rival United last month each forecast earnings ahead of analysts' estimates for the second quarter."", 'Both carriers offer sprawling global networks and have benefited from a rebound in international travel in the wake of the pandemic, particularly to Europe and popular destinations in Asia for U.S. travelers like Japan.', 'Both carriers have predicted record summer travel demand.', 'Those airline trends align with a broader consumer shift that started after pandemic lockdowns: spending more money on experiences rather than apparel or electronics.', '""We\'re still spending disproportionately on activities and services rather than on goods,"" House said.', 'Delta and United are also capitalizing on travelers who have been willing to pay up for more expensive seats, like first class or premium economy.', 'U.S. airlines have been racing to add more high-priced seating to their planes and grow lounges for top spenders.', ""Inflation hasn't hurt high-income consumers as much as it has the budget-conscious, giving them more room to spend."", 'Higher-income consumers have also bolstered fast-casual restaurant chains, like Chipotle, that come in at a slightly higher price point than the cheapest options.', ""The burrito chain's same-store sales grew7% during the first quarter, fueled by a 5.4% increase in foot traffic."", ""Chipotle has a strong perception of value among diners, CEO Brian Niccol said on the company's conference call."", 'Executives have also previously emphasized that most of its customers come from higher-income brackets.', 'Even Walmart have beenattracting consumers with deeper pockets.', 'As customers pay more for groceries, the discounterhasattracted moreaffluent customers and stolen market share from rivalslikeTarget, which has historically been more popular with wealthier shoppers.', 'The company also credited its remodeled stores and expanded merchandise on its website for appealing to households that have a more than $100,000 annual income.', 'Target is scheduled to report quarterly earnings on Wednesday.', 'Not all companies with higher-income customer bases have seen the same strong demand, however.', ""Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending."", ""For example, athleisure brand Lululemon's U.S. sales lagged in its most recent quarter, which CEO Calvin McDonald attributed in part to a shortage in key product sizes and not enough colorful items."", ""Then there's Starbucks, which has always positioned itself as a premium coffee brand."", 'The coffee giant announced a surprise decline in its U.S. same-store sales and lowered its full-year forecast, sending its shares tumbling.', 'While CEO Laxman Narasimhan gave a laundry list of factors explaining the weak quarter, including a more value-minded consumer, Bank of America analyst Sara Senatore wrote in a research note that a social media boycott might still be the primary culprit.', ""And Peloton's latest report was the latest in a string of disappointing results for the company."", 'Earlier this month, the pandemic darling fired its chief executive and announced plans to lay off 15% of its staff as fewer consumers bought its pricey equipment or its much cheaper fitness subscriptions in its latest fiscal quarter.', '""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton\'s trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.—', ""CNBC's Melissa Repko and Gabrielle Fonrouge contributed reporting to this story.""]",0.0637336559460311,"McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending.","""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton's trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.—",-0.0166200759510199,"The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.","Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said.",2024-05-22
+"Lowe's beats on earnings and revenue, even as consumers spend less on DIY projects",https://www.cnbc.com/2024/05/21/lowes-low-q1-2024-earnings.html,2024-05-21T17:51:56+0000,"In this articleLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items.The home improvement retailer's results echoed those of Home Depot last week. Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.Lowe's stuck by its full-year forecast. It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023. It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30.In an interview with CNBC, Marvin Ellison said a mix of factors have kept consumers from spending more freely, including pressure from inflation and uncertainty around when the Federal Reserve may cut interest rates.""Interest rates can go down, but you still need consumer confidence come up,"" he said.He said Lowe's held off on raising its full-year outlook as it awaits some of its biggest sales days. Spring is the holiday season for home improvement.Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier.Sales dropped from $22.35 billion in the year-ago period. It marked the fifth quarter in a row that Lowe's posted a year-over-year sales decline.Shoppers visited Lowe's stores and website less, as homeowners put off larger projects and bought fewer pricey items. Transactions dropped 3.1% and average ticket dropped 1% year over year, Ellison said.He told CNBC that customers have been buying fewer discretionary items, such as outdoor grills and patio sets, and taking on fewer projects like kitchen remodels.Compared with Home Depot, Lowe's draws less of its business from painters, contractors and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back. Roughly half of Home Depot's sales come from pros compared with about 20% to 25% at Lowe's.Yet Lowe's has been trying to win business from more of those pros. Gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending.Comparable sales for the quarter decreased 6.2%. For pro customers, however, comparable sales were flat for the quarter.Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline. At the time, Ellison warned investors that the retailer expected ""a pullback in discretionary consumer spending over the near term.""For each of the three quarters since then, Lowe's sales have also dropped from the year-ago periods.Shares of Lowe's closed Monday at $229.17, bringing the company's market value to $131.13 billion. As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.",CNBC,21/05/2024,"[""In this articleLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items."", ""The home improvement retailer's results echoed those of Home Depot last week."", 'Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.', ""Lowe's stuck by its full-year forecast."", 'It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023.', 'It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30.In an interview with CNBC, Marvin Ellison said a mix of factors have kept consumers from spending more freely, including pressure from inflation and uncertainty around when the Federal Reserve may cut interest rates.', '""Interest rates can go down, but you still need consumer confidence come up,"" he said.', ""He said Lowe's held off on raising its full-year outlook as it awaits some of its biggest sales days."", 'Spring is the holiday season for home improvement.', ""Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier."", 'Sales dropped from $22.35 billion in the year-ago period.', ""It marked the fifth quarter in a row that Lowe's posted a year-over-year sales decline."", ""Shoppers visited Lowe's stores and website less, as homeowners put off larger projects and bought fewer pricey items."", 'Transactions dropped 3.1% and average ticket dropped 1% year over year, Ellison said.', 'He told CNBC that customers have been buying fewer discretionary items, such as outdoor grills and patio sets, and taking on fewer projects like kitchen remodels.', ""Compared with Home Depot, Lowe's draws less of its business from painters, contractors and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back."", ""Roughly half of Home Depot's sales come from pros compared with about 20% to 25% at Lowe's."", ""Yet Lowe's has been trying to win business from more of those pros."", 'Gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending.', 'Comparable sales for the quarter decreased 6.2%.', 'For pro customers, however, comparable sales were flat for the quarter.', ""Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline."", 'At the time, Ellison warned investors that the retailer expected ""a pullback in discretionary consumer spending over the near term.', '""For each of the three quarters since then, Lowe\'s sales have also dropped from the year-ago periods.', ""Shares of Lowe's closed Monday at $229.17, bringing the company's market value to $131.13 billion."", ""As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.""]",0.2006188480062568,"""Interest rates can go down, but you still need consumer confidence come up,"" he said.","Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.",-0.303969019651413,"As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.",Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline.,2024-05-22
+GM all-electric Chevy Equinox goes on sale as the latest test for EV production and demand,https://www.cnbc.com/2024/05/22/gm-chevy-equinox-ev.html,2024-05-22T16:04:29+0000,"In this articleDETROIT — The Chevrolet Equinox has been a crucial part of General Motors' lineup for two decades. The vehicle is a quintessential family hauler and a go-to car for people seeking an economical compact crossover for everyday driving.GM is hoping the 2024 Chevrolet Equinox EV can do the same for its growing all-electric vehicle portfolio as it begins shipping the crossover to dealers amid slower-than-expected demand for EVs. The rollout marks the latest test for mass-market adoption as well as the company's production of new ""Ultium"" EV technologies.""It's very important to us but, more importantly, it's very important to customers and people who want affordability and electric vehicles,"" GM President Mark Reuss told CNBC last week. ""This is about $27,500 [including up to $7,500 in federal incentives] for an over 300-mile range car, which is right in the heart of everything.""Offering a new EV for around $25,000 has long been a target for automakers such as GM, Tesla and others. The importance of such a vehicle has grown more apparent as Chinese automakers like BYD and Nio grow their sales of less expensive EVs outside of China.The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives). The entry-level Equinox LT model, starting at about $35,000, is expected later this year.""The Equinox EV is the vehicle that's really going to make a difference for a lot of customers that maybe previously haven't been interested or looked at EVs,"" Kathleen Murawski, marketing and advertising manager for gas-powered and Equinox EVs and Chevy Blazer EVs, told CNBC.GM sells hundreds of thousands of gas-powered Equinox crossovers annually, including 212,701 last year. The crossover is typically one of GM's bestselling vehicles and top five in sales for its segment, according to Autopacific.The Equinox EV is GM's new entry point for all-electric vehicles in the U.S. after the automaker discontinued the Chevy Bolt last year. It's expected to be GM's top-selling EV.With such lofty sales expectations, it also will test the legacy automaker's ability to successfully mass produce an Ultium-based EV following pricier vehicles such as the $110,000 GMC Hummer EV, $60,000 Cadillac Lyriq and a botched launch of the Blazer EV, starting at roughly $55,000, due to software issues.""We've got the launch on this vehicle right. We've got the quality of this vehicle right. We've got the software of this vehicle right. We're just super excited to see now where it goes,"" GM President of Global Markets Rory Harvey told CNBC. ""We think we've got a product that's out there to win.""The Equinox EV is arriving to market following the Blazer EV and alongside GM's more than $96,000 Silverado EV RST. The company has already launched a work truck version of the Silverado EV.The production ramp-up of GM's new EV vehicles — using what the automaker calls its ""Ultium"" platform, batteries and other technologies — has been slower than the company and investors had expected. The Equinox will change that, according to GM North America President Marissa West.""We've eliminated the production constraints, and now it's about meeting the customer demand with the most affordable, longest-range vehicle on the market in the heart of our Chevrolet lineup, which is … the heart and soul of General Motors,"" West said during an interview Monday.Paul Waatti, director of industry analysis at AutoPacific, agrees. He called the Equinox a critical product for GM's EV plans as well as a potential redemption opportunity for the company following its disappointing ramp-up of current Ultium-based products.""GM is going to start to see real volume in their EV portfolio,"" Waatti said. ""It was a slow start, but now they're going to have the big volume players in the mix. It's really a turning point for GM.""""[The Equinox is] undoubtedly the most significant Ultium launch for GM yet,"" he added. ""It might just be the most compelling EV on the market right now.""All of that being said, the Equinox EV is an Equinox in name only. It shares little to nothing with the traditional gas-powered vehicle, which the company redesigned to look more rugged for the 2025 model year.The Equinox EV is wider and lower than the traditional crossover. It's a result of GM's Ultium EV platform, aerodynamics and other targeted features for the vehicle, including an up to EPA-estimated 319 miles of range on a single charge.A standard front-wheel-drive Equinox EV has a 213 horsepower and 236 foot-pounds of torque, according to company estimates. GM says optional all-wheel-drive models have an estimated 288-horsepower and 333 foot-pounds of torque.Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil.Brad Franz, director of Chevy car and crossover marketing, said retaining the familiar names for the EVs was a ""strategic decision"" to leverage names people know and trust.""The Chevy proposition here is these can make your life easier. Not only easier, but better,"" he said Thursday during a media event. ""How are we going to tackle that? We'll start with just leveraging our brand reputation.""Keeping the same names also aligns with the company's target to exclusively offer EVs to consumers by 2035. While the automaker hasn't shifted that goalpost in light of slower-than-expected sales of EVs, it has recently shifted its messaging to note the transition will be based on customer demand.GM ranked fourth in U.S. market share of all-electric vehicles during the first quarter, representing 6.1% of new EVs sold, according to data provided by Motor Intelligence. Tesla, at 52.3%, is by far the leader in estimated U.S. EV sales, followed by Hyundai, including Kia, at 9.3% and Ford Motor at 7.5%.",CNBC,22/05/2024,"[""In this articleDETROIT — The Chevrolet Equinox has been a crucial part of General Motors' lineup for two decades."", 'The vehicle is a quintessential family hauler and a go-to car for people seeking an economical compact crossover for everyday driving.', 'GM is hoping the 2024 Chevrolet Equinox EV can do the same for its growing all-electric vehicle portfolio as it begins shipping the crossover to dealers amid slower-than-expected demand for EVs.', 'The rollout marks the latest test for mass-market adoption as well as the company\'s production of new ""Ultium"" EV technologies.', '""It\'s very important to us but, more importantly, it\'s very important to customers and people who want affordability and electric vehicles,"" GM President Mark Reuss told CNBC last week. ""', 'This is about $27,500 [including up to $7,500 in federal incentives] for an over 300-mile range car, which is right in the heart of everything.', '""Offering a new EV for around $25,000 has long been a target for automakers such as GM, Tesla and others.', 'The importance of such a vehicle has grown more apparent as Chinese automakers like BYD and Nio grow their sales of less expensive EVs outside of China.', 'The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives).', 'The entry-level Equinox LT model, starting at about $35,000, is expected later this year.', '""The Equinox EV is the vehicle that\'s really going to make a difference for a lot of customers that maybe previously haven\'t been interested or looked at EVs,"" Kathleen Murawski, marketing and advertising manager for gas-powered and Equinox EVs and Chevy Blazer EVs, told CNBC.GM sells hundreds of thousands of gas-powered Equinox crossovers annually, including 212,701 last year.', ""The crossover is typically one of GM's bestselling vehicles and top five in sales for its segment, according to Autopacific."", ""The Equinox EV is GM's new entry point for all-electric vehicles in the U.S. after the automaker discontinued the Chevy Bolt last year."", ""It's expected to be GM's top-selling EV.With such lofty sales expectations, it also will test the legacy automaker's ability to successfully mass produce an Ultium-based EV following pricier vehicles such as the $110,000 GMC Hummer EV, $60,000 Cadillac Lyriq and a botched launch of the Blazer EV, starting at roughly $55,000, due to software issues."", '""We\'ve got the launch on this vehicle right.', ""We've got the quality of this vehicle right."", ""We've got the software of this vehicle right."", 'We\'re just super excited to see now where it goes,"" GM President of Global Markets Rory Harvey told CNBC. ""', ""We think we've got a product that's out there to win."", '""The Equinox EV is arriving to market following the Blazer EV and alongside GM\'s more than $96,000 Silverado EV RST.', 'The company has already launched a work truck version of the Silverado EV.The production ramp-up of GM\'s new EV vehicles — using what the automaker calls its ""Ultium"" platform, batteries and other technologies — has been slower than the company and investors had expected.', 'The Equinox will change that, according to GM North America President Marissa West.', '""We\'ve eliminated the production constraints, and now it\'s about meeting the customer demand with the most affordable, longest-range vehicle on the market in the heart of our Chevrolet lineup, which is … the heart and soul of General Motors,"" West said during an interview Monday.', 'Paul Waatti, director of industry analysis at AutoPacific, agrees.', ""He called the Equinox a critical product for GM's EV plans as well as a potential redemption opportunity for the company following its disappointing ramp-up of current Ultium-based products."", '""GM is going to start to see real volume in their EV portfolio,"" Waatti said. ""', ""It was a slow start, but now they're going to have the big volume players in the mix."", 'It\'s really a turning point for GM.""""[The Equinox is] undoubtedly the most significant Ultium launch for GM yet,"" he added. ""', 'It might just be the most compelling EV on the market right now.', '""All of that being said, the Equinox EV is an Equinox in name only.', 'It shares little to nothing with the traditional gas-powered vehicle, which the company redesigned to look more rugged for the 2025 model year.', 'The Equinox EV is wider and lower than the traditional crossover.', ""It's a result of GM's Ultium EV platform, aerodynamics and other targeted features for the vehicle, including an up to EPA-estimated 319 miles of range on a single charge."", 'A standard front-wheel-drive Equinox EV has a 213 horsepower and 236 foot-poundsof torque, according to company estimates.', 'GM says optional all-wheel-drive models have an estimated 288-horsepower and 333 foot-poundsof torque.', 'Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil.', 'Brad Franz, director of Chevy car and crossover marketing, said retaining the familiar names for the EVs was a ""strategic decision"" to leverage names people know and trust.', '""The Chevy proposition here is these can make your life easier.', 'Not only easier, but better,"" he said Thursday during a media event. ""', 'How are we going to tackle that?', ""We'll start with just leveraging our brand reputation."", '""Keeping the same names also aligns with the company\'s target to exclusively offer EVs to consumers by 2035.', ""While the automaker hasn't shifted that goalpost in light of slower-than-expected sales of EVs, it has recently shifted its messaging to note the transition will be based on customer demand."", 'GM ranked fourth in U.S. market share of all-electric vehicles during the first quarter, representing 6.1% of new EVs sold, according to data provided by Motor Intelligence.', 'Tesla, at 52.3%, is by far the leader in estimated U.S. EV sales, followed by Hyundai, including Kia, at 9.3% and Ford Motor at 7.5%.']",0.1513738164631573,"""It's very important to us but, more importantly, it's very important to customers and people who want affordability and electric vehicles,"" GM President Mark Reuss told CNBC last week. ""","Tesla, at 52.3%, is by far the leader in estimated U.S. EV sales, followed by Hyundai, including Kia, at 9.3% and Ford Motor at 7.5%.",0.7706445034812478,The importance of such a vehicle has grown more apparent as Chinese automakers like BYD and Nio grow their sales of less expensive EVs outside of China.,"The company has already launched a work truck version of the Silverado EV.The production ramp-up of GM's new EV vehicles — using what the automaker calls its ""Ultium"" platform, batteries and other technologies — has been slower than the company and investors had expected.",2024-05-22
+"Children continue to work at poultry processor, Labor Department says, even after teen worker’s recent death",https://edition.cnn.com/2024/05/21/food/mar-jac-plant-poultry-death/index.html,"
+  Updated
+        8:02 PM EDT, Tue May 21, 2024
+    ","Children have again been found working at a Mar-Jac Poultry slaughterhouse, according to the US Department of Labor. The latest discovery in Alabama comes less than a year after a teen worker was killed at a company facility in Mississippi.
+    
+            In a civil complaint filed May 7, the DOL said that investigators at its wage and hour division “discovered oppressive child labor at [Mar-Jac’s] poultry processing facility, namely children working on the kill floor deboning poultry and cutting carcasses.” The complaint added that “the children had been working at the facility for months.”
+    
+            Mar-Jac operates facilities in Mississippi, Alabama, and Georgia. The DOL’s recent allegation follows an incident last year in which a teen died at a Mar-Jac facility in Mississippi.
+    
+            According to Mar-Jac Poultry Alabama’s website, “Mar-Jac Poultry does not sell to the general public, individual restaurants or convenience stores. We sell primarily to wholesale distributors and various national fast food establishments.” It didn’t list which fast food companies it supplied.
+    
+            A DOL spokesperson told CNN Tuesday that “the wage and hour division has multiple ongoing investigations of Mar-Jac plants in Alabama and Mississippi.”
+    
+            Federal labor law bans children from certain jobs in slaughterhouses and meat packaging plants, including using or cleaning machinery, because of the hazardous conditions.
+    
+            In the May complaint, the Labor department said Mar-Jac had employed “several minors under the age of 18 in the particularly hazardous occupations of working on the kill floor.” The jobs included “hanging poultry along fast-moving machine lines, de-boning poultry, and cutting poultry carcasses.”
+    
+            The complaint added that products coming out of the facility through the end of the month are “tainted by child labor,” making them “hot goods” under the Fair Labor Standards Act.
+    
+            That means Mar-Jac has been “unjustly enriched, accruing substantial ill-gotten gains,” by shipment of these goods in violation of labor law, the complaint said.
+    
+            “Mar-Jac will continue to vigorously defend itself and expects to prevail in this matter,” according to a company statement sent to CNN. “Mar-Jac is committed to complying with all relevant laws, including but not limited to the child labor regulations, and already has taken affirmative steps to go beyond what the regulations require.”
+    
+            The workers in question had given the company documents showing they were over 18, according to the statement, which noted that Mar-Jac has a policy against hiring minors.
+    
+            The allegations come after a 16-year-old worker was killed at a Mar-Jac processing plant in Mississippi in July. He was the second employee who died while working at the facility in just over two years.
+    
+            Mar-Jac Poultry told CNN at the time that the teen died from injuries suffered in what it described as an “accident.” The company added that the Occupational Safety and Health Administration, which reviews workplace injuries among other labor issues, was investigating the incident with the “full support and cooperation of the company.”
+    
+            Earlier this year, the DOL proposed a $212,646 fine against the processor. When asked about the status of the request by CNN, the spokesperson said that the department can’t offer further comment as its investigations are ongoing.
+    
+            The Labor Department has lately been trying to crack down on incidents of child labor, especially at meatpacking facilities. In February 2023, the Department of Labor and Health and Human Services said that they were increasing efforts to fight child labor. The DOL noted at the time that it had seen a 69% increase in the illegal employment of children by companies.
+    
+            A janitorial company was recently fined $649,000 after an investigation found it hired minors for dangerous jobs cleaning slaughterhouses.
+    
+            Fayette Janitorial Service had employed at least 24 children, including those as young as 13, according to the DOL investigation. The minors had been working overnight shifts at two separate slaughter facilities, according to the DOL.
+    
+            — CNN’s Parija Kavilanz and Amy Simonson contributed to this report.",CNN,21/05/2024,"['Children have again been found working at a Mar-Jac Poultry slaughterhouse, according to the US Department of Labor.', 'The latest discovery in Alabama comes less than a year after a teen worker was killed at a company facility in Mississippi.', 'In a civil complaint filed May 7, the DOL said that investigators at its wage and hour division “discovered oppressive child labor at [Mar-Jac’s] poultry processing facility, namely children working on the kill floor deboning poultry and cutting carcasses.”', 'The complaint added that “the children had been working at the facility for months.”', 'Mar-Jac operates facilities in Mississippi, Alabama, and Georgia.', 'The DOL’s recent allegation follows an incident last year in which a teen died at a Mar-Jac facility in Mississippi.', 'According to Mar-Jac Poultry Alabama’s website, “Mar-Jac Poultry does not sell to the general public, individual restaurants or convenience stores.', 'We sell primarily to wholesale distributors and various national fast food establishments.”', 'It didn’t list which fast food companies it supplied.', 'A DOL spokesperson told CNN Tuesday that “the wage and hour division has multiple ongoing investigations of Mar-Jac plants in Alabama and Mississippi.”', 'Federal labor law bans children from certain jobs in slaughterhouses and meat packaging plants, including using or cleaning machinery, because of the hazardous conditions.', 'In the May complaint, the Labor department said Mar-Jac had employed “several minors under the age of 18 in the particularly hazardous occupations of working on the kill floor.”', 'The jobs included “hanging poultry along fast-moving machine lines, de-boning poultry, and cutting poultry carcasses.”', 'The complaint added that products coming out of the facility through the end of the month are “tainted by child labor,” making them “hot goods” under the Fair Labor Standards Act.', 'That means Mar-Jac has been “unjustly enriched, accruing substantial ill-gotten gains,” by shipment of these goods in violation of labor law, the complaint said.', '“Mar-Jac will continue to vigorously defend itself and expects to prevail in this matter,” according to a company statement sent to CNN. “', 'Mar-Jac is committed to complying with all relevant laws, including but not limited to the child labor regulations, and already has taken affirmative steps to go beyond what the regulations require.”', 'The workers in question had given the company documents showing they were over 18, according to the statement, which noted that Mar-Jac has a policy against hiring minors.', 'The allegations come after a 16-year-old worker was killed at a Mar-Jac processing plant in Mississippi in July.', 'He was the second employee who died while working at the facility in just over two years.', 'Mar-Jac Poultry told CNN at the time that the teen died from injuries suffered in what it described as an “accident.”', 'The company added that the Occupational Safety and Health Administration, which reviews workplace injuries among other labor issues, was investigating the incident with the “full support and cooperation of the company.”', 'Earlier this year, the DOL proposed a $212,646 fine against the processor.', 'When asked about the status of the request by CNN, the spokesperson said that the department can’t offer further comment as its investigations are ongoing.', 'The Labor Department has lately been trying to crack down on incidents of child labor, especially at meatpacking facilities.', 'In February 2023, the Department of Labor and Health and Human Services said that they were increasing efforts to fight child labor.', 'The DOL noted at the time that it had seen a 69% increase in the illegal employment of children by companies.', 'A janitorial company was recently fined $649,000 after an investigation found it hired minors for dangerous jobs cleaning slaughterhouses.', 'Fayette Janitorial Service had employed at least 24 children, including those as young as 13, according to the DOL investigation.', 'The minors had been working overnight shifts at two separate slaughter facilities, according to the DOL.', '— CNN’s Parija Kavilanz and Amy Simonson contributed to this report.']",-0.1776435162219835,"The company added that the Occupational Safety and Health Administration, which reviews workplace injuries among other labor issues, was investigating the incident with the “full support and cooperation of the company.”","In a civil complaint filed May 7, the DOL said that investigators at its wage and hour division “discovered oppressive child labor at [Mar-Jac’s] poultry processing facility, namely children working on the kill floor deboning poultry and cutting carcasses.”",0.4654205696923392,"That means Mar-Jac has been “unjustly enriched, accruing substantial ill-gotten gains,” by shipment of these goods in violation of labor law, the complaint said.","A janitorial company was recently fined $649,000 after an investigation found it hired minors for dangerous jobs cleaning slaughterhouses.",2024-05-22
+Walmart says more diners are buying its groceries as fast food gets pricey,https://www.cnbc.com/2024/05/16/walmart-earnings-grocery-sales-rise-as-fast-food-prices-increases.html,2024-05-16T17:51:10+0000,"In this articleForget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles.As fast food gets pricier, the nation's largest grocer sees a sales opportunity.On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter's sales growth in the recent quarter came from customers who turned to its grocery aisles for cheaper meals than they can get at quick-service restaurants.""It's roughly 4.3 times more expensive to eat out than it is to eat at home,"" he said. ""And that's benefiting our business.""As customers see some grocery items stay the same price or even become cheaper, the gap between buying menu items and cooking food at home has grown even wider, he said.Walmart's stock soared to an all-time high Thursday, after it beat Wall Street's quarterly sales and revenue expectations and said it expected its full-year results to be on the high end of, or better than, its previous forecast. Transactions in the U.S. rose 3.8%, as more customers visited its stores and website.Walmart's strong store traffic and quarterly results are at odds with those of restaurant companies, including McDonald's, Starbucks and Yum Brands. Foot traffic to limited-service chains, which includes fast-food and fast-casual restaurants, fell 3.5% in the first quarter, according to Revenue Management Solutions. Restaurant executives blamed bad weather in January and February — and a consumer slowdown, particularly among lower-income diners.Like many restaurants, McDonald's has faced backlash to its prices. An $18 Big Mac combo sold at one of its franchised restaurants in Connecticut went viral on social media, prompting executives to defend the chain's pricing on its conference call. The burger giant reported disappointing U.S. same-store sales growth of 2.5%, suggesting that its foot traffic fell during the quarter.Still, McDonald's CEO Chris Kempczinski said consumers, particularly those earning lower incomes, are hunting for deals. The chain will offer a $5 value meal starting June 25 for roughly a month.Not all restaurants have had trouble getting diners to pay higher prices: fast-casual chains such as Chipotle, Wingstop and Sweetgreen all reported strong sales in their most recent quarters.Inflation data from the U.S. Labor Department reflects the difference between the price that customers pay for food they cook at home or pack for lunch, compared with what they pay at a coffee shop or restaurant. As of April, the price of food at home, a category that measures the total cost of food purchased at grocers or other food stores, was up 1.1% year over year. The price of food away from home rose significantly more: 4.1% year over year.On the company's earnings call Thursday, Walmart U.S. CEO John Furner pointed to a newer tool in Walmart's arsenal that it can use to compete more aggressively with restaurants: its new grocery brand, Bettergoods.The premium line includes unique flavors and merchandise tailored for more health-conscious customers or ones with a special diet, such as gluten-free or plant-based items. For example, it includes strawberries and cream-flavored Greek yogurt, curry chicken empanadas, restaurant-style chicken wings and salted caramel oat milk ice cream.Seventy percent of the brand's items are under $5, Furner said — a price point that may catch the eye of shoppers ""trying to feed a family of four, five, [or] six.""— CNBC's Amelia Lucas contributed to this report.",CNBC,16/05/2024,"['In this articleForget the drive-thru.', 'Walmart wants diners to find a value meal in its grocery aisles.', ""As fast food gets pricier, the nation's largest grocer sees a sales opportunity."", ""On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter's sales growth in the recent quarter came from customers who turned to its grocery aisles for cheaper meals than they can get at quick-service restaurants."", '""It\'s roughly 4.3 times more expensive to eat out than it is to eat at home,"" he said. ""', ""And that's benefiting our business."", '""As customers see some grocery items stay the same price or even become cheaper, the gap between buying menu items and cooking food at home has grown even wider, he said.', ""Walmart's stock soared to an all-time high Thursday, after it beat Wall Street's quarterly sales and revenue expectations and said it expected its full-year results to be on the high end of, or better than, its previous forecast."", 'Transactions in the U.S. rose 3.8%, as more customers visited its stores and website.', ""Walmart's strong store traffic and quarterly results are at odds with those of restaurant companies, including McDonald's, Starbucks and Yum Brands."", 'Foot traffic to limited-service chains, which includes fast-food and fast-casual restaurants, fell 3.5% in the first quarter, according to Revenue Management Solutions.', 'Restaurant executives blamed bad weather in January and February — and a consumer slowdown, particularly among lower-income diners.', ""Like many restaurants, McDonald's has faced backlash to its prices."", ""An $18 Big Mac combo sold at one of its franchised restaurants in Connecticut went viral on social media, prompting executives to defend the chain's pricing on its conference call."", 'The burger giant reported disappointing U.S. same-store sales growth of 2.5%, suggesting that its foot traffic fell during the quarter.', ""Still, McDonald's CEO Chris Kempczinski said consumers, particularly those earning lower incomes, are hunting for deals."", 'The chain will offer a $5 value meal starting June 25 for roughly a month.', 'Not all restaurants have had trouble getting diners to pay higher prices: fast-casual chains such as Chipotle, Wingstop and Sweetgreen all reported strong sales in their most recent quarters.', 'Inflation data from the U.S. Labor Departmentreflects the differencebetween the price that customers pay for food they cook at home or pack for lunch, compared with what they pay at a coffee shop or restaurant.', 'As of April, the price of food at home, a category that measures the total cost of food purchased at grocers or other food stores, was up 1.1% year over year.', 'The price of food away from home rose significantly more: 4.1% year over year.', ""On the company's earnings call Thursday, Walmart U.S. CEO John Furner pointed to a newer tool in Walmart's arsenal that it can use to compete more aggressively with restaurants: its new grocery brand, Bettergoods."", 'The premium line includes unique flavors and merchandise tailored for more health-conscious customers or ones with a special diet, such as gluten-free or plant-based items.', 'For example, it includes strawberries and cream-flavored Greek yogurt, curry chicken empanadas, restaurant-style chicken wings and salted caramel oat milk ice cream.', 'Seventy percent of the brand\'s items are under $5, Furner said — a price point that may catch the eye of shoppers ""trying to feed a family of four, five, [or] six.""—', ""CNBC's Amelia Lucas contributed to this report.""]",0.0763173193155215,"The premium line includes unique flavors and merchandise tailored for more health-conscious customers or ones with a special diet, such as gluten-free or plant-based items.","Restaurant executives blamed bad weather in January and February — and a consumer slowdown, particularly among lower-income diners.",0.3580176420509815,"Transactions in the U.S. rose 3.8%, as more customers visited its stores and website.","Foot traffic to limited-service chains, which includes fast-food and fast-casual restaurants, fell 3.5% in the first quarter, according to Revenue Management Solutions.",2024-05-22
+Boeing shareholders vote to approve $33 million CEO pay package,https://edition.cnn.com/2024/05/17/investing/boeing-shareholders-vote-to-approve-usd33-million-ceo-pay-package/index.html,"
+  Updated
+        12:32 PM EDT, Fri May 17, 2024
+    ","Shareholders of embattled airplane maker Boeing approved a pay package of nearly $33 million for outgoing CEO Dave Calhoun at the company’s annual general meeting on Friday.
+    
+            That’s the highest package ever paid to the company’s CEO and a 45% increase from the $22.6 million he received for 2022. The vast majority of the bump comes from a giant stock bonus granted on top of his more-than-a-million-dollar salary.
+    
+            Calhoun, who has led Boeing since 2020, announced in March that he will leave the company by the end of the year.
+    
+            The shareholder vote on Friday was made to approve Calhoun’s 2023 pay package. Calhoun has said he declined to accept an additional annual incentive bonus of $2,800,000 for the year – a request the board said he made after the Alaska Airlines incident.
+    
+            Upon his retirement, Calhoun is set to take home another going-away present: a $45 million mix of stock awards and options that vest over time.
+    
+            The approval comes as the plane maker is facing additional scrutiny for a series of safety incidents, including a mid-air 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.
+    
+            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.
+    
+            “Our compensation program is designed to align leadership pay with the long term performance of our business,” said Steve Mollenkopf, Boeing’s new chairman, when asked how the company can justify such a high compensation package given recent safety grievances. “It’s really driven by meeting our commitments to the highest safety and quality standards.”
+    
+            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.
+    
+            “The board is confident that the current compensation structure continues to directly align with performance and balances both the meaningful progress made to restore operational and financial strength along with the fact that certain performance criteria has not been met,” he said.
+    
+            The compensation committee “took swift action to make significant design changes to our compensation plan in 2024” after the Alaska Airlines incident in January, Mollenkopf said. The annual incentive metric now gives greater weight to operational metrics, like safety and quality.
+    
+            Shares of Boeing (BA) were down 0.1% in afternoon trading.
+    
+            This story is developing and will be updated.",CNN,17/05/2024,"['Shareholders of embattled airplane maker Boeing approved a pay package of nearly $33 million for outgoing CEO Dave Calhoun at the company’s annual general meeting on Friday.', 'That’s the highest package ever paid to the company’s CEO and a 45% increase from the $22.6 million he received for 2022.', 'The vast majority of the bump comes from a giant stock bonus granted on top of his more-than-a-million-dollar salary.', 'Calhoun, who has led Boeing since 2020, announced in March thathe will leave the company by the end of the year.', 'The shareholder vote on Friday was made to approve Calhoun’s 2023 pay package.', 'Calhoun has said he declined to accept an additional annual incentive bonus of $2,800,000 for the year – a request the board said he made after the Alaska Airlines incident.', 'Upon his retirement, Calhoun is set to take home another going-away present: a $45 million mix of stock awards and options that vest over time.', 'The approval comes as the plane maker is facing additional scrutiny for a series of safety incidents,including a mid-air 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.', '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.', '“Our compensation program is designed to align leadership pay with the long term performance of our business,” said Steve Mollenkopf, Boeing’s new chairman, when asked how the company can justify such a high compensation package given recent safety grievances. “', 'It’s really driven by meeting our commitments to the highest safety and quality standards.”', '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.', '“The board is confident that the current compensation structure continues to directly align with performance and balances both the meaningful progress made to restore operational and financial strength along with the fact that certain performance criteria has not been met,” he said.', 'The compensation committee “took swift action to make significant design changes to our compensation plan in 2024” after the Alaska Airlines incident in January, Mollenkopf said.', 'The annual incentive metric now gives greater weight to operational metrics, like safety and quality.', 'Shares of Boeing (BA) were down 0.1% in afternoon trading.', 'This story is developing and will be updated.']",0.2865120397463906,"“The board is confident that the current compensation structure continues to directly align with performance and balances both the meaningful progress made to restore operational and financial strength along with the fact that certain performance criteria has not been met,” he said.","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.",0.1641185760498046,That’s the highest package ever paid to the company’s CEO and a 45% increase from the $22.6 million he received for 2022.,"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.",2024-05-22
+Why Target and McDonald's are cutting prices and offering deals,https://www.cnbc.com/2024/05/22/target-walmart-mcdonalds-price-cuts-deals.html,2024-05-22T19:17:37+0000,"Target's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters.The discounter is not alone.Target's first-quarter results on Wednesday not only show American consumers are more selective about spending in the face of sustained inflation that has squeezed their budgets for nearly three years. The company's declining sales also illustrate how the battle for shoppers' wallets has heated up as retailers — and even some restaurants — race to outmatch each other on low prices.Walmart said last week that its grocery ""rollbacks,"" short-term deals on specific items, were up 45% year over year in April. The discounter also introduced a new premium grocery brand with most items under $5.Elsewhere, Aldi dropped prices earlier this month on more than 250 items, including chicken, steak, granola bars and frozen blueberries. And even McDonald's is debuting a limited-time $5 value meal in late June as some diners scoff at the price of fast food.Target made its move on Monday, saying it has already reduced prices on about 1,500 items and plans to cut prices on thousands more this summer. Many of those items are staples such as milk, peanut butter and diapers.Multiple major grocers and restaurants cutting prices or offering deals could offer relief at the checkout, at a time when consumer prices are still climbing more than 3% from last year. It could also give the Federal Reserve more confidence to cut interest rates. Even so, the revenue lost from lower prices could force businesses to cut back elsewhere — potentially on labor costs.Analysts on Target's earnings call on Wednesday asked about the timing and reasoning behind the price cuts and whether the retailer or its vendors are picking up the tab. The company declined to share details of that split, but Chief Growth Officer Christina Hennington said Target's vendors know the company is committed to passing on savings to its customers to drive traffic.Some businesses have held on to customers even with the same or higher prices: Chipotle and Sweetgreen, for example, have bucked the consumer slowdown.Target's earnings report revealed at least part of the reason why it is joining the race to cut prices. Sales of discretionary merchandise, such as clothing, dropped year over year. But so did sales of higher frequency items like groceries and paper towels.Some customers may be making those purchases at Walmart instead. Transactions on Walmart's website and stores rose 3.8% in the most recent quarter, and its e-commerce purchases shot up by 22% in the U.S., the company reported last week.In an interview with CNBC, Walmart finance chief John David Rainey said the retail giant is gaining share from higher-income households. He added some consumers are coming to its stores for meals because of sticker shock at fast-food chains.""We've got customers that are coming to us more frequently than they have before and newer customers that we haven't traditionally had,"" he said.On Target's earnings call, analysts asked tough questions about whether the retailer is losing ground with shoppers or is seen as too pricey, outside of sales events.CEO Brian Cornell said Target is putting value front and center as it fights to get back to growth.""We want to make sure America knows that Target's a great place to shop and we have great value every time you engage whether it's in-store or through our digital channels,"" he said, adding the company is on track to reverse sales declines in the second quarter.When Target cuts prices, customers have noticed and responded, Hennington said on the earnings call. For example, it noticed it didn't have low-priced tech accessories that customers wanted, such as charging cables and phone cases, she said.Those items became part of Dealworthy, a new private brand launched in February that offers Target's lowest prices on basic items like laundry detergent and paper plates.""When we introduced the right price points in Dealworthy, the guests noticed immediately and that drove unit and traffic acceleration in those categories and that's what we're doing business by business,"" she said.It'll soon run a similar play with seasonal items, she said. After Target ""took a hard look at some of the most popular products from last year's summer assortment,"" customers can expect to see cheaper pool noodles, floats and coolers.— CNBC's Amelia Lucas contributed to this report.",CNBC,22/05/2024,"[""Target's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters."", 'The discounter is not alone.', ""Target's first-quarter results on Wednesday not only show American consumers are more selective about spending in the face of sustained inflation that has squeezed their budgets for nearly three years."", ""The company's declining sales also illustrate how the battle for shoppers' wallets has heated up as retailers — and even some restaurants — race to outmatch each other on low prices."", 'Walmart said last week that its grocery ""rollbacks,"" short-term deals on specific items, were up 45% year over year in April.', 'The discounter also introduced a new premium grocery brand with most items under $5.Elsewhere, Aldi dropped prices earlier this month on more than 250 items, including chicken, steak, granola bars and frozen blueberries.', ""And even McDonald's is debuting a limited-time $5 value meal in late June as some diners scoff at the price of fast food."", 'Target made its move on Monday, saying it has already reduced prices on about 1,500 items and plans to cut prices on thousands more this summer.', 'Many of those items are staples such as milk, peanut butter and diapers.', 'Multiple major grocers and restaurants cutting prices or offering deals could offer relief at the checkout, at a time when consumer prices are still climbing more than 3% from last year.', 'It could also give the Federal Reserve more confidence to cut interest rates.', 'Even so, the revenue lost from lower prices could force businesses to cut back elsewhere — potentially on labor costs.', ""Analysts on Target's earnings call on Wednesday asked about the timing and reasoning behind the price cuts and whether the retailer or its vendors are picking up the tab."", ""The company declined to share details of that split, but Chief Growth Officer Christina Hennington said Target's vendors know the company is committed to passing on savings to its customers to drive traffic."", 'Some businesses have held on to customers even with the same or higher prices: Chipotle and Sweetgreen, for example, have bucked the consumer slowdown.', ""Target's earnings report revealed at least part of the reason why it is joining the race to cut prices."", 'Sales of discretionary merchandise, such as clothing, dropped year over year.', 'But so did sales of higher frequency items like groceries and paper towels.', 'Some customers may be making those purchases at Walmart instead.', ""Transactions on Walmart's website and stores rose 3.8% in the most recent quarter, and its e-commerce purchases shot up by 22% in the U.S., the company reported last week."", 'In an interview with CNBC, Walmart finance chief John David Rainey said the retail giant is gaining share from higher-income households.', 'He added some consumers are coming to its stores for meals because of sticker shock at fast-food chains.', '""We\'ve got customers that are coming to us more frequently than they have before and newer customers that we haven\'t traditionally had,"" he said.', ""On Target's earnings call, analysts asked tough questions about whether the retailer is losing ground with shoppers or is seen as too pricey, outside of sales events."", 'CEO Brian Cornell said Target is putting value front and center as it fights to get back to growth.', '""We want to make sureAmericaknows that Target\'s a great place to shop and we have great value every time you engage whether it\'s in-store or through our digital channels,"" he said, adding the company is on track to reverse sales declines in the second quarter.', 'When Target cuts prices, customers have noticed and responded, Hennington said on the earnings call.', ""For example, it noticed it didn't have low-priced tech accessories that customers wanted, such as charging cables and phone cases, she said."", ""Those items became part of Dealworthy, a new private brand launched in February that offers Target's lowest prices on basic items like laundry detergent and paper plates."", '""When we introduced the right price points in Dealworthy, the guests noticed immediately and that drove unit and traffic acceleration in those categories and that\'s what we\'re doing business by business,"" she said.', ""It'll soon run a similar play with seasonal items, she said."", 'After Target ""took a hard look at some of the most popular products from last year\'s summer assortment,"" customers can expect to see cheaper pool noodles, floats and coolers.—', ""CNBC's Amelia Lucas contributed to this report.""]",0.0450573626859338,"""We want to make sureAmericaknows that Target's a great place to shop and we have great value every time you engage whether it's in-store or through our digital channels,"" he said, adding the company is on track to reverse sales declines in the second quarter.","Even so, the revenue lost from lower prices could force businesses to cut back elsewhere — potentially on labor costs.",0.3702837166033293,"Walmart said last week that its grocery ""rollbacks,"" short-term deals on specific items, were up 45% year over year in April.",Target's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters.,2024-05-22
+"CFPB says buy now, pay later firms must comply with U.S. credit card laws",https://www.cnbc.com/2024/05/22/cfpb-buy-now-pay-later-credit-card-laws.html,2024-05-22T17:24:13+0000,"In this articleThe Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards.The agency unveiled what it called an ""interpretive rule"" that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act.That means the industry — currently dominated by fintech firms like Affirm, Klarna and PayPal — must make refunds for returned products or canceled services, must investigate merchant disputes and pause payments during those probes, and must provide bills with fee disclosures.""Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under long-standing laws and regulations already on the books,"" CFPB Director Rohit Chopra said in a release.The CFPB, which last week was handed a crucial victory by the Supreme Court, has pushed hard against the U.S. financial industry, issuing rules that slashed credit card late fees and overdraft penalties. The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing. Among CFPB concerns are that some users are given more debt than they can handle, he said.""Buy now, pay later is now a major part of our consumer credit market as these loans provide a meaningful alternative to other options for consumers,"" Chopra told reporters. ""The CFPB wants to make sure that these new competitive offerings are not gaining an advantage by sidestepping longstanding rights and responsibilities enshrined under the law.""It's unclear how many BNPL providers don't comply with refund and dispute requirements; on the website for Affirm, for instance, there are pages for both activities.While the CFPB acknowledged that many BNPL players offer those services, the new rule will ensure that they are applied consistently across the industry, a senior agency official told reporters.The new rule will go into effect in 60 days, and the agency is now accepting public commentary on it, the official said.Shares of Affirm were off 4.6% in midday trading, while PayPal slipped 2%.For some time, BNPL providers have anticipated greater regulation, including efforts to apply existing card rules onto the industry. In March, Klarna published a post arguing that its no-interest product was less risky for customers than credit cards — which can often come with steep interest rates — thus requiring less oversight.""Instead of trying to jam BNPL into an outdated credit card framework that does little to actually protect consumers, leaders in Washington should draft and implement a framework for BNPL that is proportionate to the risk it poses,"" Klarna said at the time.In a statement provided Wednesday, Klarna called the CFPB move a ""significant step forward"" in BNPL regulation, adding that it already adhered to standards for refunds, disputes and billing information.""But it is baffling that the CFPB has overlooked the fundamental differences between interest-free BNPL and credit cards, whose whole business model is based on trapping customers into a cycle of paying sky-high interest rates month after month,"" said a Klarna spokesperson.An Affirm spokesman said the company was ""encouraged"" that the CFPB was promoting industry standards, ""many of which already reflect how Affirm operates,"" and that it was engaged with the regulator on improving how it operates.""Affirm's success is aligned with responsibly extending access to credit as we do not charge late or hidden fees,"" the spokesman said. ""We urge other companies that offer buy now, pay later products to live up to the industry's promise to provide consumers with a more flexible and transparent alternative to other payment options.""The industry's stance raises the possibility that, like other financial players including payday lenders, BNPL companies could push back against the CFPB rule by suing the agency.The CFPB rule capping credit card late fees at $8 per incident, which was set to go into effect this month, was challenged and paused by a federal judge recently.",CNBC,22/05/2024,"['In this articleThe Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards.', 'The agency unveiled what it called an ""interpretive rule"" that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act.', 'That means the industry — currently dominated by fintech firms like Affirm, Klarna and PayPal — must make refunds for returned products or canceled services, must investigate merchant disputes and pause payments during those probes, and must provide bills with fee disclosures.', '""Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under long-standing laws and regulations already on the books,"" CFPB Director Rohit Chopra said in a release.', 'The CFPB, which last week was handed a crucial victory by the Supreme Court, has pushed hard against the U.S. financial industry, issuing rules that slashed credit card late fees and overdraft penalties.', 'The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing.', 'Among CFPB concerns are that some users are given more debt than they can handle, he said.', '""Buy now, pay later is now a major part of our consumer credit market as these loans provide a meaningful alternative to other options for consumers,"" Chopra told reporters. ""', 'The CFPB wants to make sure that these new competitive offerings are not gaining an advantage by sidestepping longstanding rights and responsibilities enshrined under the law.', '""It\'s unclear how many BNPL providers don\'t comply with refund and dispute requirements; on the website for Affirm, for instance, there are pages for both activities.', 'While the CFPB acknowledged that many BNPL players offer those services, the new rule will ensure that they are applied consistently across the industry, a senior agency official told reporters.', 'The new rule will go into effect in 60 days, and the agency is now accepting public commentary on it, the official said.', 'Shares of Affirm were off 4.6% in midday trading, while PayPal slipped 2%.For some time, BNPL providers have anticipated greater regulation, including efforts to apply existing card rules onto the industry.', 'In March, Klarna published a post arguing that its no-interest product was less risky for customers than credit cards — which can often come with steep interest rates — thus requiring less oversight.', '""Instead of trying to jam BNPL into an outdated credit card framework that does little to actually protect consumers, leaders in Washington should draft and implement a framework for BNPL that is proportionate to the risk it poses,"" Klarna said at the time.', 'In a statement provided Wednesday, Klarna called the CFPB move a ""significant step forward"" in BNPL regulation, adding that it already adhered to standards for refunds, disputes and billing information.', '""But it is baffling that the CFPB has overlooked the fundamental differences between interest-free BNPL and credit cards, whose whole business model is based on trapping customers into a cycle of paying sky-high interest rates month after month,"" said a Klarna spokesperson.', 'An Affirm spokesman said the company was ""encouraged"" that the CFPB was promoting industry standards, ""many of which already reflect how Affirm operates,"" and that it was engaged with the regulator on improving how it operates.', '""Affirm\'s success is aligned with responsibly extending access to credit as we do not charge late or hidden fees,"" the spokesman said. ""', ""We urge other companies that offer buy now, pay later products to live up to the industry's promise to provide consumers with a more flexible and transparent alternative to other payment options."", '""The industry\'s stance raises the possibility that, like other financial players including payday lenders, BNPL companies could push back against the CFPB rule by suing the agency.', 'The CFPB rule capping credit card late fees at $8 per incident, which was set to go into effect this month, was challenged and paused by a federal judge recently.']",0.3036623994723746,"""But it is baffling that the CFPB has overlooked the fundamental differences between interest-free BNPL and credit cards, whose whole business model is based on trapping customers into a cycle of paying sky-high interest rates month after month,"" said a Klarna spokesperson.","The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing.",0.3937926154870253,"The agency, formed in the aftermath of the 2008 financial crisis, began investigating the BNPL industry in late 2021.The use of digital installment loan-type services has ballooned in recent years, with volumes surging tenfold from 2019 to 2021, Chopra said during a media briefing.","Shares of Affirm were off 4.6% in midday trading, while PayPal slipped 2%.For some time, BNPL providers have anticipated greater regulation, including efforts to apply existing card rules onto the industry.",2024-05-22
+Red Lobster files for Chapter 11 bankruptcy protection,https://www.cnbc.com/2024/05/20/red-lobster-bankruptcy.html,2024-05-20T19:51:14+0000,"Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement.The seafood chain also said it has a so-called stalking horse bid from its existing lenders to buy the company, unless a higher bid comes along.CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain's need to file for Chapter 11 protection.The chain's real estate portfolio is also a ""huge problem"" created, in part, by Red Lobster's former owners Golden Gate Capital, a source familiar with the company told CNBC. When Darden Restaurants sold Red Lobster to the private equity firm in 2014, it funded the $2.1 billion acquisition partially through a $1.5 billion sale-leaseback agreement, the companies said previously. Under the terms of the arrangement, the majority, if not all, of Red Lobster's locations were sold off, and the chain had to start paying rent on properties it once owned while Golden Gate reaped the profits, the source said. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. Given how much revenue has fallen, the chain can no longer afford those leases.Red Lobster currently operates 551 locations in the U.S. and 27 restaurants in Canada. The chain closed 93 underperforming locations on May 13 and is asking the bankruptcy court to reject 108 of its leases to further slim down its footprint.The company has 36,000 employees, most of whom work in part-time roles.Orlando, Florida-based Red Lobster has assets between $1 billion and $10 billion and estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing. Its largest creditor is distributor Performance Food Group, which is claiming the company owes it $24.4 million.""This restructuring is the best path forward for Red Lobster,"" Tibus said in a statement late Sunday. ""It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth. The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.""Red Lobster was founded in 1968 and purchased by General Mills two years later. In 1995, General Mills spun off its restaurant division into Darden, which also housed sister chain Olive Garden.Nearly two decades later, Darden sold Red Lobster to Golden Gate. In 2016, Thai Union Group, a seafood supplier and one of the chain's longtime vendors, bought a stake in the company. In 2020, Thai Union, members of Red Lobster management and investors using the alias Seafood Alliance bought out Golden Gate's remaining stake in the chain.Although Red Lobster survived the pandemic, its business has struggled since then. The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing.The company's longtime CEO, Kim Lopdrup, also retired in 2021, beginning a revolving door of CEOs that left the chain with little stability to turn around the flailing business. Tibus is Red Lobster's third chief executive in as many years.In fiscal 2023, the company reported a net loss of $76 million. Some of that loss was driven by its disastrous ""endless shrimp"" promotion. Last year, it changed the offer from once a week to daily in an effort to boost slower sales in the second half of the year. But the offer juiced business too much as diners sought cheap deals, pressuring Red Lobster's bottom line.According to a court filing, the ill-conceived promotion's actual aim may have been more about boosting Thai Union's own sales. Red Lobster got rid of two of its shrimp suppliers under interim CEO Paul Kenny's leadership, leaving Thai Union as its sole supplier of the crustacean. That decision led to higher costs for Red Lobster, according to the filing. The debtors are also investigating if Thai Union and Kenny pushed excessively for in-store promotions, which often led to major shortages of shrimp.Correction: Performance Food Group is claiming Red Lobster owes it $24.4 million. An earlier version misstated the figure.",CNBC,20/05/2024,"['Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement.', 'The seafood chain also said it has a so-called stalking horse bid from its existing lenders to buy the company, unless a higher bid comes along.', 'CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases.', 'The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain\'s need to file for Chapter 11 protection.', 'The chain\'s real estate portfolio is also a ""huge problem"" created, in part, by Red Lobster\'s former owners Golden Gate Capital, a source familiar with the company told CNBC.', 'When Darden Restaurants sold Red Lobster to the private equity firm in 2014, it funded the $2.1 billion acquisition partially through a $1.5 billion sale-leaseback agreement, the companies said previously.', ""Under the terms of the arrangement, the majority, if not all, of Red Lobster's locations were sold off, and the chain had to start paying rent on properties it once owned while Golden Gate reaped the profits, the source said."", 'At the time, it was tough to predict that Red Lobster would see sales drop as much as they have.', 'Given how much revenue has fallen, the chain can no longer afford those leases.', 'Red Lobster currently operates 551 locations in the U.S. and 27 restaurants in Canada.', 'The chain closed 93 underperforming locations on May 13 and is asking the bankruptcy court to reject 108 of its leases to further slim down its footprint.', 'The company has 36,000 employees, most of whom work in part-time roles.', 'Orlando, Florida-based Red Lobster has assets between $1 billion and $10 billion and estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing.', 'Its largest creditor is distributor Performance Food Group, which is claiming the company owes it $24.4 million.', '""This restructuring is the best path forward for Red Lobster,"" Tibus said in a statement late Sunday. ""', 'It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.', ""The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests."", '""Red Lobster was founded in 1968 and purchased by General Mills two years later.', 'In 1995, General Mills spun off its restaurant division into Darden, which also housed sister chain Olive Garden.', 'Nearly two decades later, Darden sold Red Lobster to Golden Gate.', ""In 2016, Thai Union Group, a seafood supplier and one of the chain's longtime vendors, bought a stake in the company."", ""In 2020, Thai Union, members of Red Lobster management and investors using the alias Seafood Alliance bought out Golden Gate's remaining stake in the chain."", 'Although Red Lobster survived the pandemic, its business has struggled since then.', ""The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing."", ""The company's longtime CEO, Kim Lopdrup, also retired in 2021, beginning a revolving door of CEOs that left the chain with little stability to turn around the flailing business."", ""Tibus is Red Lobster's third chief executive in as many years."", 'In fiscal 2023, the company reported a net loss of $76 million.', 'Some of that loss was driven by its disastrous ""endless shrimp"" promotion.', 'Last year, it changed the offer from once a week to daily in an effort to boost slower sales in the second half of the year.', ""But the offer juiced business too much as diners sought cheap deals, pressuring Red Lobster's bottom line."", ""According to a court filing, the ill-conceived promotion's actual aim may have been more about boosting Thai Union's own sales."", ""Red Lobster got rid of two of its shrimp suppliers under interim CEO Paul Kenny's leadership, leaving Thai Union as its sole supplier of the crustacean."", 'That decision led to higher costs for Red Lobster, according to the filing.', 'The debtors are also investigating if Thai Union and Kenny pushed excessively for in-store promotions, which often led to major shortages of shrimp.', 'Correction: Performance Food Group is claiming Red Lobster owes it $24.4 million.', 'An earlier version misstated the figure.']",-0.0049559407481681,The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.,"The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain's need to file for Chapter 11 protection.",-0.3631059433284558,It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.,"The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing.",2024-05-22
+First-time homebuyers got squeezed last month as prices hit record April high,https://edition.cnn.com/2024/05/22/homes/sales-us-housing-market/index.html,"
+  Updated
+        11:11 AM EDT, Wed May 22, 2024
+    ","Rising US home prices are heightening the housing affordability crisis for Americans, especially first-time buyers.
+    
+            The median price of a previously owned home in the US grew 5.7% in April from a year earlier to $407,600, according to data from the National Association of Realtors released Wednesday. That was the fourth consecutive monthly increase and was a record for April prices.
+    
+            Another gauge of prices by S&P Global has similarly showed that US home-price growth accelerated throughout the beginning of the year, especially in San Diego, Chicago and Detroit.
+    
+            Housing affordability takes into account prices, household incomes and mortgage rates. Put together, it’s been a difficult time for prospective buyers, though the increase in prices has been a boon for homeowners since it means their wealth has grown.
+    
+            NAR also reported that existing home sales, which make up the vast majority of transactions, fell 1.9% in April to a seasonally adjusted annual rate of 4.14 million. Sales fell in April for the second month in a row, declining across the country, as mortgage rates surged past 7%.
+    
+            One shred of good news for housing in America, however, is that more homes are continuing to come to market.
+    
+            “The upper-end market is experiencing a sizable gain due to more supply coming onto the market,” said Lawrence Yun, NAR’s chief economist, in a release.
+    
+            He added that “home prices reaching a record high for the month of April is very good news for homeowners.”
+    
+            The US housing market’s recovery from earlier in the year was cut short when it became clear the Federal Reserve likely won’t cut interest rates in the first half of 2024 — right as the crucial spring homebuying season kicked into high gear.
+    
+            After plunging to multi-decade lows last fall, home sales began to rebound in early 2024 as housing supply improved and hopes grew that the Fed would begin to cut interest rates imminently. Then came signs that inflation’s slowdown had stalled.
+    
+            Mortgage rates track the yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions on interest rates. Hotter-than-expected inflation readings sent bond yields surging and mortgage rates followed suit.
+    
+            The standard 30-year fixed-rate mortgage surged past 7% in April, according to Freddie Mac data. At the same time, home prices continued to climb, tightening the grip on buyers. Low housing affordability typically crimps demand.
+    
+            Yet that somehow didn’t deter some first-time buyers. The share of buyers who bought a home for the first time rose to 33% in April from 32% in March.
+    
+            “I don’t know how they are able to do it,” Yun said. “Maybe later we will find out that they got some help from family members in terms of a down payment.”
+    
+            America’s housing market indeed remains tough for many, but one key issue has improved throughout this year.
+    
+            A chronic lack of available homes has been a longstanding issue for the market, putting upward pressure on prices and limiting buyers’ choices. The tide seems to have turned for now.
+    
+            Total housing inventory at the end of April was 1.21 million units, up 9% from the prior month and 16.3% from a year earlier, NAR said. That was the fourth consecutive monthly increase in housing inventory, but it’s still not keeping up with demand.
+    
+            “We still have tight inventory, despite the fact that we’ve had this increase,” Yun said. “It is still a very frustrating market out there. Home prices are at record highs, mortgage rates are high and a lack of inventory to some degree looks like it is hindering sales.”
+    
+            This story has been updated with additional details and context.",CNN,22/05/2024,"['Rising US home prices are heightening the housing affordability crisis for Americans, especially first-time buyers.', 'The median price of a previously owned home in the US grew 5.7% in April from a year earlier to $407,600, according to data from the National Association of Realtors released Wednesday.', 'That was the fourth consecutive monthly increase and was a record for April prices.', 'Another gauge of prices by S&P Global has similarly showed that US home-price growth accelerated throughout the beginning of the year, especially in San Diego, Chicago and Detroit.', 'Housing affordability takes into account prices, household incomes and mortgage rates.', 'Put together, it’s been a difficult time for prospective buyers, though the increase in prices has been a boon for homeowners since it means their wealth has grown.', 'NAR also reported that existing home sales, which make up the vast majority of transactions, fell 1.9% in April to a seasonally adjusted annual rate of 4.14 million.', 'Sales fell in April for the second month in a row, declining across the country, as mortgage rates surged past 7%.', 'One shred of good news for housing in America, however, is that more homes are continuing to come to market.', '“The upper-end market is experiencing a sizable gain due to more supply coming onto the market,” said Lawrence Yun, NAR’s chief economist, in a release.', 'He added that “home prices reaching a record high for the month of April is very good news for homeowners.”', 'The US housing market’s recovery from earlier in the year was cut short when it became clear the Federal Reserve likely won’t cut interest rates in the first half of 2024 — right as the crucial spring homebuying season kicked into high gear.', 'After plunging to multi-decade lows last fall, home sales began to rebound in early 2024 as housing supply improved and hopes grew that the Fed would begin to cut interest rates imminently.', 'Then came signs that inflation’s slowdown had stalled.', 'Mortgage rates track the yield on the 10-year US Treasury note, which moves in anticipation of the Fed’s decisions on interest rates.', 'Hotter-than-expected inflation readings sent bond yields surging and mortgage rates followed suit.', 'The standard 30-year fixed-rate mortgage surged past 7% in April, according to Freddie Mac data.', 'At the same time, home prices continued to climb, tightening the grip on buyers.', 'Low housing affordability typically crimps demand.', 'Yet that somehow didn’t deter some first-time buyers.', 'The share of buyers who bought a home for the first time rose to 33% in April from 32% in March.', '“I don’t know how they are able to do it,” Yun said. “', 'Maybe later we will find out that they got some help from family members in terms of a down payment.”', 'America’s housing market indeed remains tough for many, but one key issue has improved throughout this year.', 'A chronic lack of available homes has been a longstanding issue for the market, putting upward pressure on prices and limiting buyers’ choices.', 'The tide seems to have turned for now.', 'Total housing inventory at the end of April was 1.21 million units, up 9% from the prior month and 16.3% from a year earlier, NAR said.', 'That was the fourth consecutive monthly increase in housing inventory, but it’s still not keeping up with demand.', '“We still have tight inventory, despite the fact that we’ve had this increase,” Yun said. “', 'It is still a very frustrating market out there.', 'Home prices are at record highs, mortgage rates are high and a lack of inventory to some degree looks like it is hindering sales.”', 'This story has been updated with additional details and context.']",0.1196878040227627,"After plunging to multi-decade lows last fall, home sales began to rebound in early 2024 as housing supply improved and hopes grew that the Fed would begin to cut interest rates imminently.","Rising US home prices are heightening the housing affordability crisis for Americans, especially first-time buyers.",0.1867195729698453,"The median price of a previously owned home in the US grew 5.7% in April from a year earlier to $407,600, according to data from the National Association of Realtors released Wednesday.","Sales fell in April for the second month in a row, declining across the country, as mortgage rates surged past 7%.",2024-05-22
+Microsoft thinks it found a way to make PCs relevant again,https://edition.cnn.com/2024/05/21/tech/microsoft-ai-copilot-plus-build-2024/index.html,"
+  Updated
+        5:17 PM EDT, Tue May 21, 2024
+    ","Microsoft jumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales.
+    
+            The developments push the company closer to its long-time goal to “build computers that understand us versus us having to understand computers,” CEO Satya Nadella told the audience at the company’s annual developer conference at its Redmond, Washington headquarters.
+    
+            “I feel like we’re really close to that real breakthrough,” he added.
+    
+            The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years. The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.
+    
+            Microsoft’s new lineup of Copilot+ PCs, which feature a new Surface Pro tablet and Surface laptop, include AI tools that don’t require internet connection – the AI processing occurs directly on the device
+    
+            The new hardware runs on OpenAI’s new GPT-4o technology, which aims to turn ChatGPT into a digital personal assistant that can engage in real-time, spoken conversations and interact using text and “vision.” Announced last week, it can view screenshots, photos, documents or charts uploaded by users and have a conversation about them.
+    
+            The new hardware also plays up Microsoft’s existing AI assistant called Copilot, which works across various products, including Bing and Microsoft 365. It can help with tasks such as writing, keeping track of emails in Outlook or designing presentations in PowerPoint.
+    
+            One new feature, called Recall, acts as a personal “time machine,” allowing users to quickly find things from their computer, such as documents, images and websites. Another allows for real-time translation into more than 40 more languages locally on the device.
+    
+            The company also showed off a new tool called Team Copilot, which serves as a personal assistant, allowing it act as a meeting facilitator to create agendas or take notes on behalf of the whole team, not just an individual user.
+    
+            Microsoft isn’t alone in its AI PC ambition. Dell and Lenovo also recently debuted AI-first PC computers under the Copilot+ AI umbrella, an emerging category that experts widely believe will become the next stage of computing. (Copilot+ is the name of the line of hardware that supports the Copilot software.)
+    
+            Next month, Apple is expected to announce new AI-powered tools for the iPhone and Mac at its annual Worldwide Developers Conference.
+    
+            “Over time, AI capability will become a ubiquitous feature, but Microsoft and its partners have made a solid start,” Geoff Blaber, CEO at CCS Insight, told CNN. “They will need to work hard to ensure that AI becomes a lot more than just a meaningless descriptor with a growing number of features.”
+    
+            Microsoft’s advancements also come at a time when the PC market is ripe for innovation.
+    
+            “This is a much-needed catalyst,” Blaber added.
+    
+            Although the Surface line is relatively small within the overall PC market, it serves as an aspirational brand and a frontrunner in terms of innovation, according to Jitesh Ubrani, a research manager at market research firm IDC. But Microsoft’s move is more reflective of a greater shift happening in the industry toward AI.
+    
+            In June, Apple will likely introduce generative AI – artificial intelligence that is capable of creating new output from images to text – across its iOS and Mac platforms. Reports indicate the company could unveil an AI-powered chatbot that runs on OpenAI’s ChatGPT technology, the same technology that underpins Microsoft’s new CoPilot+ line.
+    
+            Still, Microsoft has already established itself as an early leader in this space with ChatGPT integrated into key products. And it appears those efforts are paying off.
+    
+            Last month, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago. Revenue grew 17% year-over-year growth to $61.9 billion. Microsoft’s Azure cloud business also experienced strong growth – revenue grew 31% – boosted by AI tailwinds.
+    
+            The company continues to go all in on AI in other ways, too. Earlier this month, Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin to train employees and manufacturers on how to best use artificial intelligence. The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft. It also plans to use the center to train about 100,000 workers across the state.",CNN,21/05/2024,"['Microsoftjumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales.', 'The developments push the company closer to its long-time goal to “build computers that understand us versus us having to understand computers,” CEO Satya Nadella told the audience at the company’s annual developer conference at its Redmond, Washington headquarters.', '“I feel like we’re really close to that real breakthrough,” he added.', 'The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years.', 'The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.', 'Microsoft’s new lineup of Copilot+ PCs, which feature a new Surface Pro tablet and Surface laptop, include AI tools that don’t require internet connection – the AI processing occurs directly on the device  The new hardware runs on OpenAI’s new GPT-4o technology, which aims to turn ChatGPT into a digital personal assistant that can engage in real-time, spoken conversations and interact using text and “vision.”', 'Announced last week, it can view screenshots, photos, documents or charts uploaded by users and have a conversation about them.', 'The new hardware also plays up Microsoft’s existing AI assistant called Copilot, which works across various products, including Bing and Microsoft 365.', 'It can help with tasks such as writing, keeping track ofemails in Outlook or designingpresentations in PowerPoint.', 'One new feature, called Recall, acts as a personal “time machine,” allowing users to quickly find things from their computer, such as documents, images and websites.', 'Another allows for real-time translation into more than 40 more languages locally on the device.', 'The company also showed off a new tool called Team Copilot, which serves as a personal assistant, allowing it act as a meeting facilitator to create agendas or take notes on behalf of the whole team, not just an individual user.', 'Microsoft isn’t alone in its AI PC ambition.', 'Dell and Lenovo also recently debuted AI-first PC computers under the Copilot+ AI umbrella, an emerging category that experts widely believe will become the next stage of computing. (', 'Copilot+ is the name of the line of hardware that supports the Copilot software.)', 'Next month, Apple is expected to announce new AI-powered tools for the iPhone and Mac at its annual Worldwide Developers Conference.', '“Over time, AI capability will become a ubiquitous feature, but Microsoft and its partners have made a solid start,” Geoff Blaber, CEO at CCS Insight, told CNN. “', 'They will need to work hard to ensure that AI becomes a lot more than just a meaningless descriptor with a growing number of features.”', 'Microsoft’s advancements also come at a time when the PC market is ripe for innovation.', '“This is a much-needed catalyst,” Blaber added.', 'Although the Surface line is relatively small within the overall PC market, it serves as an aspirational brand and a frontrunner in terms of innovation, according to Jitesh Ubrani, a research manager at market research firm IDC.', 'But Microsoft’s move is more reflective of a greater shift happening in the industry toward AI.', 'In June, Apple will likely introduce generative AI – artificial intelligence that is capable of creating new output from images to text – across its iOS and Mac platforms.', 'Reports indicate the company could unveil an AI-powered chatbot that runs on OpenAI’s ChatGPT technology, the same technology that underpins Microsoft’s new CoPilot+ line.', 'Still, Microsoft has already established itself as an early leader in this space with ChatGPT integrated into key products.', 'And it appears those efforts are paying off.', 'Last month, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago.', 'Revenue grew 17% year-over-year growth to $61.9 billion.', 'Microsoft’s Azure cloud business also experienced strong growth – revenue grew 31% – boosted by AI tailwinds.', 'The company continues to go all in on AI in other ways, too.', 'Earlier this month, Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin to train employees and manufacturers on how to best use artificial intelligence.', 'The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft.', 'It also plans to use the center to train about 100,000 workers across the state.']",0.2613193043030551,"The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.",Microsoft isn’t alone in its AI PC ambition.,0.8417981266975403,Revenue grew 17% year-over-year growth to $61.9 billion.,"The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years.",2024-05-22
+Industry bosses cast doubt on jobs 'bootcamp' plans,https://www.bbc.co.uk/news/articles/c4nnlj2889eo,2024-05-21T03:23:31.819Z,"Industry bosses have cast doubt on new plans for skills ""bootcamps"" for unemployed Britons as part of government efforts to plug gaps in the jobs market left by overseas workers. The government already runs intensive training ""bootcamps"" to help people out of work retrain in many sectors, but new, initial plans will focus on industries hit hardest by labour shortages from new migration rules. Work and pensions secretary Mel Stride said the UK had relied on foreign labour ""for too long"". But industry figures suggested the plans may not be enough for businesses that are at ""breaking point"". Under the latest plans, benefits claimants would be given training for roles in key sectors facing shortages including hospitality, care, construction and manufacturing. The new model will be partly based on the measures introduced in 2021 to target a chronic shortage of HGV drivers, which included skills ""bootcamps"" and Jobcentre training schemes. Mr Stride said: ""It's a plan providing more opportunities for people here at home to get on, to progress, and to increase their pay. ""I know this presents a recruitment challenge for some employers in certain sectors, particularly those that have relied more on migration in the past. ""For too long we have relied on labour from abroad when there is great talent right here in the UK - I am determined to put that right."" Mr Stride will also chair a new cross-government taskforce to develop recruitment initiatives for industries with major shortages. Kate Nicholls, chief executive of UK Hospitality, said the trade body was pleased to be working with the government to fill ""crucial gaps"" in the workforce. However, the Recruitment and Employment Confederation questioned the prioritisation of British workers over foreign workers when employers are struggling to fill many job postings. ""The bottom line is that many British businesses are at breaking point because of labour shortages,"" said Kate Shoesmith, its deputy chief executive. ""It shouldn't be about picking winners or employing British workers over foreigners. It is about creating the right conditions for long-term, sustainable economic growth"".  Engineering and manufacturing organisation Make UK said many employers were not aware of existing ""bootcamps"" and that any new measures needed to be promoted properly.  Meanwhile, TUC general secretary Paul Nowak suggested the announcement did not include enough detail on its implementation, describing it as ""performative politics"". Labour also dismissed the proposals as a ""talking shop"" that would not deal with the scale of the problem. The plans, overseen by a new ministerial taskforce headed by Mr Stride, come ahead of official net migration statistics set to be published on Thursday. Net migration in the UK - the difference between the number of people coming and those leaving - hit a record high of 745,000 in 2022. Since then, the government has announced a set of measures aimed at significantly cutting the number of people entering Britain. These include drastically hiking the salary threshold for skilled workers to £38,700 and reforms to make it harder for Britons earning under the national average to bring over foreign spouses. Mr Stride acknowledged the new rules, which aim to reduce the number of people arriving in Britain by 300,000, present a ""recruitment challenge"" for employers. He insisted the government was building a new economic model ""based on British talent"". Shadow work and pensions secretary Alison McGovern accused the government of ""running down our skills and training system"". She said: ""We now have record levels of net migration. They should be putting in place proper plans to tackle worker shortages and adopting Labour's plans to connect the immigration system to skills."" Liberal Democrat work and pensions spokeswoman, Wendy Chamberlain, said: ""In many ways this is an admission that the Conservatives have no plan to tackle the biggest reason that people are unable to work, which is that NHS waiting lists are through the roof. ""Thousands are struggling to access the healthcare they need, meaning people are unable to go back to work. ""We will only get the economy back fighting fit by fixing the health crisis,"" she added. ",BBC,21/05/2024,"['Industry bosses have cast doubt on new plans for skills ""bootcamps"" for unemployed Britons as part of government efforts to plug gaps in the jobs market left by overseas workers.', 'The government already runs intensive training ""bootcamps"" to help people out of work retrain in many sectors, but new, initial plans will focus on industries hit hardest by labour shortages from new migration rules.', 'Work and pensions secretary Mel Stride said the UK had relied on foreign labour ""for too long"".', 'But industry figures suggested the plans may not be enough for businesses that are at ""breaking point"".', 'Under the latest plans, benefits claimants would be given training for roles in key sectors facing shortages including hospitality, care, construction and manufacturing.', 'The new model will be partly based on the measures introduced in 2021 to target a chronic shortage of HGV drivers, which included skills ""bootcamps"" and Jobcentre training schemes.', 'Mr Stride said: ""It\'s a plan providing more opportunities for people here at home to get on, to progress, and to increase their pay. ""', 'I know this presents a recruitment challenge for some employers in certain sectors, particularly those that have relied more on migration in the past. ""', 'For too long we have relied on labour from abroad when there is great talent right here in the UK - I am determined to put that right.""', 'Mr Stride will also chair a new cross-government taskforce to develop recruitment initiatives for industries with major shortages.', 'Kate Nicholls, chief executive of UK Hospitality, said the trade body was pleased to be working with the government to fill ""crucial gaps"" in the workforce.', 'However, the Recruitment and Employment Confederation questioned the prioritisation of British workers over foreign workers when employers are struggling to fill many job postings. ""', 'The bottom line is that many British businesses are at breaking point because of labour shortages,"" said Kate Shoesmith, its deputy chief executive. ""', ""It shouldn't be about picking winners or employing British workers over foreigners."", 'It is about creating the right conditions for long-term, sustainable economic growth"".', 'Engineering and manufacturing organisation Make UK said many employers were not aware of existing ""bootcamps"" and that any new measures needed to be promoted properly.', 'Meanwhile, TUC general secretary Paul Nowak suggested the announcement did not include enough detail on its implementation, describing it as ""performative politics"".', 'Labour also dismissed the proposals as a ""talking shop"" that would not deal with the scale of the problem.', 'The plans, overseen by a new ministerial taskforce headed by Mr Stride, come ahead of official net migration statistics set to be published on Thursday.', 'Net migration in the UK - the difference between the number of people coming and those leaving - hit a record high of 745,000 in 2022.', 'Since then, the government has announced a set of measures aimed at significantly cutting the number of people entering Britain.', 'These include drastically hiking the salary threshold for skilled workers to £38,700 and reforms to make it harder for Britons earning under the national average to bring over foreign spouses.', 'Mr Stride acknowledged the new rules, which aim to reduce the number of people arriving in Britain by 300,000, present a ""recruitment challenge"" for employers.', 'He insisted the government was building a new economic model ""based on British talent"".', 'Shadow work and pensions secretary Alison McGovern accused the government of ""running down our skills and training system"".', 'She said: ""We now have record levels of net migration.', 'They should be putting in place proper plans to tackle worker shortages and adopting Labour\'s plans to connect the immigration system to skills.""', 'Liberal Democrat work and pensions spokeswoman, Wendy Chamberlain, said: ""In many ways this is an admission that the Conservatives have no plan to tackle the biggest reason that people are unable to work, which is that NHS waiting lists are through the roof. ""', 'Thousands are struggling to access the healthcare they need, meaning people are unable to go back to work. ""', 'We will only get the economy back fighting fit by fixing the health crisis,"" she added.']",0.047629687805524,"For too long we have relied on labour from abroad when there is great talent right here in the UK - I am determined to put that right.""","We will only get the economy back fighting fit by fixing the health crisis,"" she added.",-0.2301803044974804,"Mr Stride said: ""It's a plan providing more opportunities for people here at home to get on, to progress, and to increase their pay. ""","Shadow work and pensions secretary Alison McGovern accused the government of ""running down our skills and training system"".",2024-05-22
+"Food price rises returning to normal, Kantar survey says",https://www.bbc.co.uk/news/articles/c0xxwz00nz9o,2024-05-21T07:02:53.205Z,"Food price rises are returning to ""more normal"" rates, research suggests, although shoppers are still seeking out cheaper own-brand goods. Grocery price inflation - the rate at which prices increase - has fallen to 2.4%, according to research firm Kantar, the lowest since October 2021. The findings come ahead of official figures due on Wednesday which are expected to show a sharp drop in overall inflation.  The easing of price rises has raised expectations that the Bank of England will cut interest rates this summer. Kantar said that despite the easing of food price rises, shoppers were still following money-saving habits. ""Typically, an inflation rate of around 3% is when we start to see marked changes in consumers’ behaviour, with shoppers trading down to cheaper items when the rate goes above this line and vice versa when the rate drops,"" said Fraser McKevitt, head of retail and consumer insight at Kantar. ""However, after nearly two and a half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis. ""Own-label lines are proving resilient, for example, and they are still growing faster than brands, making up over half (52%) of total spending."" Sales of premium own-label ranges remained popular, up by 9.9% from a year earlier. Kantar also said it expected summer sports events such as the Euro 2024 men’s football tournament and the Olympic Games to boost sales, especially alcoholic drinks. ""During England’s quarter final match against France in the 2022 FIFA Men’s World Cup, take-home beer sales hit their biggest daily takings of the year outside of Christmas,"" Mr McKevitt said.  Overall inflation peaked at 11.1% in late 2022, but increases in prices for food and non-alcoholic drinks were running at a rate of almost 20% last year - the highest since the 1970s. In response, the Bank of England increased interest rates in a bid to slow price rises.  The theory is that if you make borrowing more expensive, people have less money to spend, or may choose to save more as saving rates go up. This in turn reduces demand for goods and helps cool inflation. The Bank's key rate now stands at 5.25% - a 16-year high - but as inflation has fallen there has been intense speculation over when the rate will be cut. The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released on Wednesday is expected to see the rate drop close to the Bank's target of 2%. On Monday, Bank deputy governor Ben Broadbent said that a rate cut at ""some time"" over the summer was ""possible"". ",BBC,21/05/2024,"['Food price rises are returning to ""more normal"" rates, research suggests, although shoppers are still seeking out cheaper own-brand goods.', 'Grocery price inflation - the rate at which prices increase - has fallen to 2.4%, according to research firm Kantar, the lowest since October 2021.', 'The findings come ahead of official figures due on Wednesday which are expected to show a sharp drop in overall inflation.', 'The easing of price rises has raised expectations that the Bank of England will cut interest rates this summer.', 'Kantar said that despite the easing of food price rises, shoppers were still following money-saving habits. ""', 'Typically, an inflation rate of around 3% is when we start to see marked changes in consumers’ behaviour, with shoppers trading down to cheaper items when the rate goes above this line and vice versa when the rate drops,"" said Fraser McKevitt, head of retail and consumer insight at Kantar. ""', 'However, after nearly two and a half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis. ""', 'Own-label lines are proving resilient, for example, and they are still growing faster than brands, making up over half (52%) of total spending.""', 'Sales of premium own-label ranges remained popular, up by 9.9% from a year earlier.', 'Kantar also said it expected summer sports events such as the Euro 2024 men’s football tournament and the Olympic Games to boost sales, especially alcoholic drinks. ""', 'During England’s quarter final match against France in the 2022 FIFA Men’s World Cup, take-home beer sales hit their biggest daily takings of the year outside of Christmas,"" Mr McKevitt said.', 'Overall inflation peaked at 11.1% in late 2022, but increases in prices for food and non-alcoholic drinks were running at a rate of almost 20% last year - the highest since the 1970s.', 'In response, the Bank of England increased interest rates in a bid to slow price rises.', 'The theory is that if you make borrowing more expensive, people have less money to spend, or may choose to save more as saving rates go up.', 'This in turn reduces demand for goods and helps cool inflation.', ""The Bank's key rate now stands at 5.25% - a 16-year high - but as inflation has fallen there has been intense speculation over when the rate will be cut."", ""The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released on Wednesday is expected to see the rate drop close to the Bank's target of 2%."", 'On Monday, Bank deputy governor Ben Broadbent said that a rate cut at ""some time"" over the summer was ""possible"".']",0.0362971434939468,"In response, the Bank of England increased interest rates in a bid to slow price rises.",The Bank's key rate now stands at 5.25% - a 16-year high - but as inflation has fallen there has been intense speculation over when the rate will be cut.,0.4910678677260875,"Sales of premium own-label ranges remained popular, up by 9.9% from a year earlier.","Grocery price inflation - the rate at which prices increase - has fallen to 2.4%, according to research firm Kantar, the lowest since October 2021.",2024-05-22
+"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.,2024-05-22
+"Home sales slipped unexpectedly in April, despite big gains in supply",https://www.cnbc.com/2024/05/22/april-existing-home-sales.html,2024-05-22T17:08:01+0000,"Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors. The forecast had been for a slight gain.Sales were also down from April 2023, off 1.9% from last year.These sales are based on closings, so contracts likely signed in February and March. Mortgage rates jumped at the start of February and then held around 7% for the next two months before moving even higher in April.""When we see these mortgage rates, which is a 300 basis point increase from pre-Covid pace, we are in a new territory as to how the lock-in effect will restrain home sales,"" said Lawrence Yun, chief economist for the Realtors.Total housing inventory at the end of April was 1.21 million units, up 9% month to month and up 16% from the year before, but still just a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller. The supply of homes priced at more than $1 million, however, was up 34% year over year, which is why that segment of the market is most active.Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%.Tight supply kept prices under pressure. The median price of an existing home sold in April was $407,600, an increase of 5.7% year over year. That is another record high price for April. With multiple offers, due to strong demand, 27% of homes sold above list price.""Home prices reaching a record high for the month of April is very good news for homeowners,"" said Yun. ""However, the pace of price increases should taper off since more housing inventory is becoming available.""First-time buyers made a slight comeback, making up 33% of April sales, up from 29% the year before. The all-cash share was still relatively high, at 28% of all transactions.Regionally, sales in the Northeast fell 4% from March and 4% from April 2023. The median price in the Northeast was $458,500, up 8.5% year over year.In the Midwest, sales dropped 1% month to month and were also down 1% year over year. The median price in the Midwest was $303,600, up 6% from April 2023.Sales in the South dropped 1.6% from March and 3.1% from the year before. The median price in the South was $366,200, up 3.7% from last year.And in the West, sales were down 2.6% for the month and rose 1.3% from one year before. The median price in the West was $629,600, up 9.3% from April 2023.Correction: The supply of homes priced at more than $1 million was up 34% year over year. An earlier version misstated the percentage.",CNBC,22/05/2024,"['Sales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors.', 'The forecast had been for a slight gain.', 'Sales were also down from April 2023, off 1.9% from last year.', 'These sales are based on closings, so contracts likely signed in February and March.', 'Mortgage rates jumped at the start of February and then held around 7% for the next two months before moving even higher in April.', '""When we see these mortgage rates, which is a 300 basis point increase from pre-Covid pace, we are in a new territory as to how the lock-in effect will restrain home sales,"" said Lawrence Yun, chief economist for the Realtors.', 'Total housing inventory at the end of April was 1.21 million units, up 9% month to month and up 16% from the year before, but still just a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', 'The supply of homes priced at more than $1 million, however, was up 34% year over year, which is why that segment of the market is most active.', 'Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%.Tight supply kept prices under pressure.', 'The median price of an existing home sold in April was $407,600, an increase of 5.7% year over year.', 'That is another record high price for April.', 'With multiple offers, due to strong demand, 27% of homes sold above list price.', '""Home prices reaching a record high for the month of April is very good news for homeowners,"" said Yun. ""', 'However, the pace of price increases should taper off since more housing inventory is becoming available.', '""First-time buyers made a slight comeback, making up 33% of April sales, up from 29% the year before.', 'The all-cash share was still relatively high, at 28% of all transactions.', 'Regionally, sales in the Northeast fell 4% from March and 4% from April 2023.', 'The median price in the Northeast was $458,500, up 8.5% year over year.', 'In the Midwest, sales dropped 1% month to month and were also down 1% year over year.', 'The median price in the Midwest was $303,600, up 6% from April 2023.Sales in the South dropped 1.6% from March and 3.1% from the year before.', 'The median price in the South was $366,200, up 3.7% from last year.', 'And in the West, sales were down 2.6% for the month and rose 1.3% from one year before.', 'The median price in the West was $629,600, up 9.3% from April 2023.Correction: The supply of homes priced at more than $1 million was up 34% year over year.', 'An earlier version misstated the percentage.']",0.1041924059185371,"""Home prices reaching a record high for the month of April is very good news for homeowners,"" said Yun. ""","Sales of homes priced below $100,000 fell 7.1% year over year, while sales of those priced over $1 million jumped 40%.Tight supply kept prices under pressure.",0.1457016354515439,"The median price in the West was $629,600, up 9.3% from April 2023.Correction: The supply of homes priced at more than $1 million was up 34% year over year.","And in the West, sales were down 2.6% for the month and rose 1.3% from one year before.",2024-05-22
+Peloton shares drop after it announces refinancing to stave off cash crunch,https://www.cnbc.com/2024/05/20/peloton-shares-plunge-after-refinancing.html,2024-05-20T21:55:22+0000,"In this articlePeloton shares plunged on Monday after the connected fitness company said it is launching a ""global refinancing,"" as it looks to stave off a cash crunch amid falling sales. The company is offering $275 million in convertible senior notes due 2029 in a private offering and plans to enter into a $1 billion five-year term loan and $100 million revolving credit facility. Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan. Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground. Last month, Peloton announced that its CEO Barry McCarthy was stepping down and said it planned to lay off 15% of its workforce because it ""simply had no other way to bring its spending in line with its revenue.""The restructuring was designed to improve Peloton's cash position as demand for its connected fitness products continues to fall. The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan. It said it is working closely with its lenders at JPMorgan and Goldman Sachs on a ""refinancing strategy.""""Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital,"" the company said. ""We are encouraged by the support and inbound interest from our existing lenders and investors and we look forward to sharing more about this topic.""",CNBC,20/05/2024,"['In this articlePeloton shares plunged on Monday after the connected fitness company said it is launching a ""global refinancing,"" as it looks to stave off a cash crunch amid falling sales.', 'The company is offering $275 million in convertible senior notes due 2029 in a private offering and plans to enter into a $1 billion five-year term loan and $100 million revolving credit facility.', 'Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan.', 'Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground.', 'Last month, Peloton announced that its CEO Barry McCarthy was stepping down and said it planned to lay off 15% of its workforce because it ""simply had no other way to bring its spending in line with its revenue.', '""The restructuring was designed to improve Peloton\'s cash position as demand for its connected fitness products continues to fall.', 'The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.', 'In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan.', 'It said it is working closely with its lenders at JPMorgan and Goldman Sachson a ""refinancing strategy.', '""""Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital,"" the company said. ""', 'We are encouraged by the support and inbound interest from our existing lenders and investors and we look forward to sharing more about this topic.""']",0.2533256277869251,"The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.","In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan.",0.1452564001083374,"The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.","Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground.",2024-05-22
+"Boeing whistleblower died by suicide, police investigation reveals",https://edition.cnn.com/2024/05/17/business/boeing-whistleblower-suicide-police-investigation/index.html,"
+  Published
+        9:36 PM EDT, Fri May 17, 2024
+    ","Boeing whistleblower John Barnett died by suicide, according to a police report released on Friday, bringing to end an investigation of the shocking death of a longtime employee who raised concerns about the airplane manufacturer’s safety and production standards – and who sued the company, claiming Boeing illegally retaliated against him.
+    
+            Barnett, 62, was found dead in a vehicle on March 9 from a self-inflicted gunshot wound in Charleston, South Carolina. Officers had been dispatched to conduct a welfare check on Barnett at a Holiday Inn when he failed to show up to a deposition in his case against Boeing, according to his lawyers and a police incident report.
+    
+            When they arrived, responding officers found Barnett dead in the driver’s seat of a truck in the parking lot. He was holding a handgun. The initial police report also said there was a note in the truck.
+    
+            But Barnett’s lawyers said in a statement following his death that his deposition was nearing an end and he appeared to be in good spirits.
+    
+            “We didn’t see any indication he would take his own life. No one can believe it,” his lawyers, Robert Turkewitz and Brian Knowles, said in a statement on March 12. “The Charleston police need to investigate this fully and accurately and tell the public what they find out.”
+    
+            The Charleston Police Department on Friday concluded their investigation into Barnett’s death, saying the Charleston County Coroner’s Office determined that Barnett had killed himself.
+    
+            The investigation found that Barnett was shot in the head at close range and the weapon was found in his right hand. There was also a notebook found in the front seat of the car that showed signs that “he was going through a period of serious personal distress,” according to a media release about the police investigation.
+    
+            Police shared with CNN an image of a note left in the car, which had multiple disparaging messages directed at Boeing.
+    
+            “As this investigation comes to a close, we should not forget it represents the loss of Mr. Barnett’s life,” police said, “We extend our deepest sympathies to his family during this difficult time and hope they continue to find the strength to persevere in absence.”
+    
+            Boeing could not immediately be reached for comment. In March, the company said it was saddened by Barnett’s death.
+    
+            “Our thoughts are with his family and friends,” the company said.
+    
+            Barnett, a former quality manager who had worked at Boeing for decades, told the New York Times in 2019 that he had discovered unsafe wiring clusters in Boeing’s manufacturing processes that, if severed by nearby metal slivers, could have led to the catastrophic failure of an aircraft.
+    
+            “As a quality manager at Boeing, you’re the last line of defense before a defect makes it out to the flying public,” Barnett told the Times. “And I haven’t seen a plane out of Charleston yet that I’d put my name on saying it’s safe and airworthy.”
+    
+            In a statement sent to the plant’s employees and provided to CNN at the time, Brad Zaback, a site leader at the plant and general manager of the 787 program, said the Times’ report “paints a skewed and inaccurate picture of the program and of our team (at the plant).”
+    
+            Zaback, who said the Times declined an invitation to visit the plant, said “quality is the bedrock of who we are,” adding that the plant delivers “the highest quality airplanes.”
+    
+            Since Barnett’s initial public warnings about Boeing, the company has had several high-profile safety and quality lapses, including the blowout of a door plug on a 737 Max shortly after takeoff in January. That led the US Justice Department to announce this week that Boeing could face criminal prosecution for its history of safety problems.",CNN,17/05/2024,"['Boeing whistleblower John Barnett died by suicide, according to a police report released on Friday, bringing to end an investigation of the shocking death of a longtime employee who raised concerns about the airplane manufacturer’s safety and production standards – and who sued the company, claiming Boeing illegally retaliated against him.', 'Barnett, 62, was found dead in a vehicle on March 9 from a self-inflicted gunshot wound in Charleston, South Carolina.', 'Officers had been dispatched to conduct a welfare check on Barnett at a Holiday Inn when he failed to show up to a deposition in his case against Boeing, according to his lawyers and a police incident report.', 'When they arrived, responding officers found Barnett dead in the driver’s seat ofa truck in the parking lot.', 'He was holding a handgun.', 'The initial police report also said there was a note in the truck.', 'But Barnett’s lawyers said in a statement following his death that his deposition was nearing an end and he appeared to be in good spirits.', '“We didn’t see any indication he would take his own life.', 'No one can believe it,” his lawyers, Robert Turkewitz and Brian Knowles, said in a statement on March 12. “', 'The Charleston police need to investigate this fully and accurately and tell the public what they find out.”', 'The Charleston Police Department on Friday concluded their investigation into Barnett’s death, saying the Charleston County Coroner’s Office determined that Barnett had killed himself.', 'The investigation found that Barnett was shot in the head at close range and the weapon was found in his right hand.', 'There was also a notebook found in the front seat of the car that showed signs that “he was going through a period ofserious personal distress,” according to a media release about the police investigation.', 'Police shared with CNN an image of a note left in the car, which had multiple disparaging messages directed at Boeing.', '“As this investigation comes to a close, we should not forget it represents the loss of Mr. Barnett’s life,” police said, “We extend our deepest sympathies to his family during this difficult time and hope they continue to find the strength to persevere in absence.”', 'Boeing could not immediately be reached for comment.', 'In March, the company said it was saddened by Barnett’s death.', '“Our thoughts are with his family and friends,” the company said.', 'Barnett, a former quality manager who had worked at Boeing for decades, told the New York Times in 2019 that he had discovered unsafe wiring clusters in Boeing’s manufacturing processes that, if severed by nearby metal slivers, could have led to the catastrophic failure of an aircraft.', '“As a quality manager at Boeing, you’re the last line of defense before a defect makes it out to the flying public,” Barnett told the Times. “', 'And I haven’t seen a plane out of Charleston yet that I’d put my name on saying it’s safe and airworthy.”', 'In a statement sent to the plant’s employees and provided to CNN at the time, Brad Zaback, a site leader at the plant and general manager of the 787 program, said the Times’ report “paints a skewed and inaccurate picture of the program and of our team (at the plant).”', 'Zaback, who said the Times declined an invitation to visit the plant, said “quality is the bedrock of who we are,” adding that the plant delivers “the highest quality airplanes.”', 'Since Barnett’s initial public warnings about Boeing, the company has had several high-profile safety and quality lapses, including the blowout of a door plug on a 737 Max shortly after takeoff in January.', 'That led the US Justice Department to announce this week that Boeing could face criminal prosecution for its history of safety problems.']",-0.2033378449861339,"“As this investigation comes to a close, we should not forget it represents the loss of Mr. Barnett’s life,” police said, “We extend our deepest sympathies to his family during this difficult time and hope they continue to find the strength to persevere in absence.”","Boeing whistleblower John Barnett died by suicide, according to a police report released on Friday, bringing to end an investigation of the shocking death of a longtime employee who raised concerns about the airplane manufacturer’s safety and production standards – and who sued the company, claiming Boeing illegally retaliated against him.",-0.5364962716897329,But Barnett’s lawyers said in a statement following his death that his deposition was nearing an end and he appeared to be in good spirits.,"Since Barnett’s initial public warnings about Boeing, the company has had several high-profile safety and quality lapses, including the blowout of a door plug on a 737 Max shortly after takeoff in January.",2024-05-22
+Shares of Hims & Hers Health surge 27% after startup says it will offer GLP-1 injections,https://www.cnbc.com/2024/05/20/hims-hers-compounded-glp-1-injections.html,2024-05-20T20:00:24+0000,"In this articleDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.Shares of the company closed up more than 27% Monday.The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December. But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform. Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.The company's oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month.Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025. The company plans to offer updated guidance in its next earnings report.The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.GLP-1s mimic a hormone produced in the gut to tamp down a person's appetite and regulate their blood sugar. When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient's needs.In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.""We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,"" he said.",CNBC,20/05/2024,"['In this articleDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.', 'Shares of the company closed up more than 27% Monday.', 'The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December.', 'But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.', 'Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform.', 'Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.', ""The company's oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month."", 'Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025.', 'The company plans to offer updated guidance in its next earnings report.', 'The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.', ""GLP-1s mimic a hormone produced in the gut to tamp down a person's appetite and regulate their blood sugar."", 'When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.', ""The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient's needs."", 'In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.', 'Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.', 'Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.', '""We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,"" he said.']",0.1168976892509908,"The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.","The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December.",0.5591075778007507,"Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.","The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.",2024-05-22
+Taylor Swift and Olympics ticket scams fuel 2024 fraud,https://www.bbc.co.uk/news/articles/clww3pwz4r1o,2024-05-22T00:15:39.820Z,"Fake Olympics and Taylor Swift tickets are the two biggest online scams consumers are likely to encounter this year, UK Finance has warned. The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year. Overall, criminals stole £1.17bn in 2023, down 4% from 2022, according to the group's annual report on fraud. But UK Finance said the abuse of online platforms continued to leave people vulnerable. It called on tech companies to do more to help stop the scams. Consumers lost £86m last year to purchase scams, in which they agreed to pay for something that never materialised, UK Finance said.  That was up 28% from 2022. In total, there were more than 156,000 cases of such fraud last year.  “Every year we see a cycle of scams changing throughout the year,"" said Ben Donaldson, the managing director of economic crime at UK Finance. ""Olympics and Taylor Swift are the two biggest examples of this year."" In April, Lloyds Bank revealed that Swift's fans had lost a total of £1m in scam ticket sales ahead of the UK leg of her tour, which starts in July. Over 600 of the bank's customers came forward to report losing money. UK Finance said fraudsters often convinced victims to pay for goods via bank transfer instead of on an official site.  “Tickets for big events such as the Olympics, Euro 2024, Glastonbury or Taylor Swift sell out quickly and people often look online for better offers to avoid missing out.  ""Criminals will use this as an opportunity to try and trick you into purchasing tickets that are either fraudulent or don’t exist, "" UK Finance's Andy Donald warned. The annual report from UK Finance found some progress in the fight against fraud, which is the most common crime in the UK and increased during the pandemic.   It said the total number of cases dipped 1% from 2022, to roughly 2.97 million, with fraud involving payment cards accounting for the vast majority. The report found losses due to unauthorised transactions fell 3% to £708.7m last year, a drop it said was due to improved customer verification practices.  UK Finance said there was also less money lost to scams in which payments were authorised. Such losses declined 5% to £459.7m, as cases involving criminals pretending to be a bank or police dropped sharply. However, the number of victims and money stolen in romance scams, in which people are tricked into believing they are in a relationship, hit a record last year, according to the report.  Losses in these cases were up 17% to £36m and involved an average of 10 payments per case. This loss is twice the amount reported for the same type of scams in 2020. ""The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime,"" Mr Donaldson said. New regulations are set to come into force on 7 October this year, which will mean UK payment service providers must reimburse customers who fall victim to payment fraud. But there are some exceptions to this rule. UK Finance said the change added urgency to the fight against fraud.  ""With reimbursement rules set to change, we risk even more money getting into criminal hands, unless the technology and telecommunication sectors take [proper] action to stop the fraud that proliferates on their platforms and networks,"" Mr Donaldson said.  ",BBC,22/05/2024,"['Fake Olympics and Taylor Swift tickets are the two biggest online scams consumers are likely to encounter this year, UK Finance has warned.', 'The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year.', ""Overall, criminals stole £1.17bn in 2023, down 4% from 2022, according to the group's annual report on fraud."", 'But UK Finance said the abuse of online platforms continued to leave people vulnerable.', 'It called on tech companies to do more to help stop the scams.', 'Consumers lost £86m last year to purchase scams, in which they agreed to pay for something that never materialised, UK Finance said.', 'That was up 28% from 2022.', 'In total, there were more than 156,000 cases of such fraud last year. “', 'Every year we see a cycle of scams changing throughout the year,"" said Ben Donaldson, the managing director of economic crime at UK Finance. ""', 'Olympics and Taylor Swift are the two biggest examples of this year.""', ""In April, Lloyds Bank revealed that Swift's fans had lost a total of £1m in scam ticket sales ahead of the UK leg of her tour, which starts in July."", ""Over 600 of the bank's customers came forward to report losing money."", 'UK Finance said fraudsters often convinced victims to pay for goods via bank transfer instead of on an official site. “', 'Tickets for big events such as the Olympics, Euro 2024, Glastonbury or Taylor Swift sell out quickly and people often look online for better offers to avoid missing out. ""', 'Criminals will use this as an opportunity to try and trick you into purchasing tickets that are either fraudulent or don’t exist, "" UK Finance\'s Andy Donald warned.', 'The annual report from UK Finance found some progress in the fight against fraud, which is the most common crime in the UK and increased during the pandemic.', 'It said the total number of cases dipped 1% from 2022, to roughly 2.97 million, with fraud involving payment cards accounting for the vast majority.', 'The report found losses due to unauthorised transactions fell 3% to £708.7m last year, a drop it said was due to improved customer verification practices.', 'UK Finance said there was also less money lost to scams in which payments were authorised.', 'Such losses declined 5% to £459.7m, as cases involving criminals pretending to be a bank or police dropped sharply.', 'However, the number of victims and money stolen in romance scams, in which people are tricked into believing they are in a relationship, hit a record last year, according to the report.', 'Losses in these cases were up 17% to £36m and involved an average of 10 payments per case.', 'This loss is twice the amount reported for the same type of scams in 2020. ""', 'The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime,"" Mr Donaldson said.', 'New regulations are set to come into force on 7 October this year, which will mean UK payment service providers must reimburse customers who fall victim to payment fraud.', 'But there are some exceptions to this rule.', 'UK Finance said the change added urgency to the fight against fraud. ""', 'With reimbursement rules set to change, we risk even more money getting into criminal hands, unless the technology and telecommunication sectors take [proper] action to stop the fraud that proliferates on their platforms and networks,"" Mr Donaldson said.']",-0.5588016656732996,"Olympics and Taylor Swift are the two biggest examples of this year.""","The money stolen funds serious organised crime and victims often suffer emotional damage as fraud is a pernicious and manipulative crime,"" Mr Donaldson said.",0.0037071198225021,The alert came as the banking lobby group reported that the number of people tricked by romance fraud and purchase scams jumped to new highs last year.,"Overall, criminals stole £1.17bn in 2023, down 4% from 2022, according to the group's annual report on fraud.",2024-05-22
+"Macy’s beats earnings estimates, as turnaround plan shows early progress",https://www.cnbc.com/2024/05/21/macys-m-q1-2024-earnings.html,2024-05-21T21:34:25+0000,"In this articleMacy's fiscal first-quarter earnings topped Wall Street's expectations on Tuesday, and the retailer's revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy.The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook. On Macy's earnings call, CFO and COO Adrian Mitchell said the company assumes in its outlook that consumers ""will remain under pressure for the balance of the year.""But he added that the retailer expects to get a lift this year as it pushes ahead with its turnaround strategy online and in stores.The company's shares closed about 5% higher Tuesday.On an earnings call with investors, CEO Tony Spring said the company is in the ""early innings"" of turning around its namesake stores. As the retailer has stepped up investments at 50 of its Macy's stores, customers have responded by visiting more often and buying more when they do, he said.For example, Macy's has made sure there are sales associates at those stores ready to help customers in the fitting rooms and shoe department, and at jewelry counters. The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss. And Macy's has tried to give shoppers more reasons to stop by, such as by offering personal styling sessions, fashion shows and fragrance bottle engraving, Spring added.""We need more variety,"" he said. ""We need less redundancy. We need more interest within the assortment and I think that's making a difference in the customer's reception to the stores.""Here's what Macy's reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:Macy's first-quarter net income tumbled 60% to $62 million, or 22 cents per share, compared with $155 million, or 56 cents per share, in the year-ago quarter. Net sales fell from $4.98 billion in the year-ago period.Macy's now anticipates net sales of between $22.3 billion and $22.9 billion, which would still represent a drop from $23.09 billion in 2023. It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1% to a gain of 1.5% on an owned-plus-licensed basis and including third-party marketplace sales. It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again. The department store operator, which includes Bloomingdale's and beauty chain Bluemercury, said earlier this year that it would close about 150 of its namesake stores. That's more than a quarter of its namesake Macy's locations. It had already announced five store closures and more than 2,300 layoffs in January.Yet the retailer said it will invest in parts of the business that have fared better, including the roughly 350 Macy's stores that will stay open. It plans to open more Bloomingdale's and Bluemercury locations, and smaller Macy's stores in suburban strip malls.In the first quarter, Bloomingdale's and Bluemercury continued to fare better than the company's namesake brand. At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%. At Bloomingdale's, comparable sales increased 0.3% on an owned-plus-licensed basis, including third-party marketplace sales. At Macy's, comparable sales declined 0.4% on an owned-plus-licensed basis, including the third-party marketplace.The company said the 150 underperforming Macy's stores – which will close by early 2027 – dragged down the results.At the approximately 350 Macy's stores that will stay open, comparable sales were up 0.1% on an owned-plus-licensed basis. At the first 50 of those stores to get additional investment, comparable sales were even better: up 3.4% on an owned-plus-licensed basis.Along with taking a hard look at its store footprint, Macy's has tried to attract more customers, including more millennial and Gen Z shoppers, by launching new exclusive brands and overhauling its existing ones.Macy's has contended with another challenge: a takeover bid by an activist investor. Arkhouse Management and Brigade Capital have made a bid to buy Macy's and take the company private. Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members.Shares of Macy's closed Tuesday at $20.08, bringing the company's market value to $5.53 billion. As of Tuesday's close, the company's stock was about flat this year, lagging behind the S&P 500's approximately 11% gains during the same period.",CNBC,21/05/2024,"[""In this articleMacy's fiscal first-quarter earnings topped Wall Street's expectations on Tuesday, and the retailer's revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy."", 'The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook.', 'On Macy\'s earnings call, CFO and COO Adrian Mitchell said the company assumes in its outlook that consumers ""will remain under pressure for the balance of the year.', '""But he added that the retailer expects to get a lift this year as it pushes ahead with its turnaround strategy online and in stores.', ""The company's shares closed about 5% higher Tuesday."", 'On an earnings call with investors, CEO Tony Spring said the company is in the ""early innings"" of turning around its namesake stores.', ""As the retailer has stepped up investments at 50 of its Macy's stores, customers have responded by visiting more often and buying more when they do, he said."", ""For example, Macy's has made sure there are sales associates at those stores ready to help customers in the fitting rooms and shoe department, and at jewelry counters."", 'The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss.', ""And Macy's has tried to give shoppers more reasons to stop by, such as by offering personal styling sessions, fashion shows and fragrance bottle engraving, Spring added."", '""We need more variety,"" he said. ""', 'We need less redundancy.', ""We need more interest within the assortment and I think that's making a difference in the customer's reception to the stores."", '""Here\'s what Macy\'s reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:Macy\'s first-quarter net income tumbled 60% to $62 million, or 22 cents per share, compared with $155 million, or 56 cents per share, in the year-ago quarter.', 'Net sales fell from $4.98 billion in the year-ago period.', ""Macy's now anticipates net sales of between $22.3 billion and $22.9 billion, which would still represent a drop from $23.09 billion in 2023."", 'It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1% to a gain of 1.5% on an owned-plus-licensed basis and including third-party marketplace sales.', ""It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again."", ""The department store operator, which includes Bloomingdale's and beauty chain Bluemercury, said earlier this year that it would close about 150 of its namesake stores."", ""That's more than a quarter of its namesake Macy's locations."", 'It had already announced five store closures and more than 2,300 layoffs in January.', ""Yet the retailer said it will invest in parts of the business that have fared better, including the roughly 350 Macy's stores that will stay open."", ""It plans to open more Bloomingdale's and Bluemercury locations, and smaller Macy's stores in suburban strip malls."", ""In the first quarter, Bloomingdale's and Bluemercury continued to fare better than the company's namesake brand."", 'At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%.', ""At Bloomingdale's, comparable sales increased 0.3% on an owned-plus-licensed basis, including third-party marketplace sales."", ""At Macy's, comparable sales declined 0.4% on an owned-plus-licensed basis, including the third-party marketplace."", ""The company said the 150 underperforming Macy's stores – which will close by early 2027 – dragged down the results."", ""At the approximately 350 Macy's stores that will stay open, comparable sales were up 0.1% on an owned-plus-licensed basis."", 'At the first 50 of those stores to get additional investment, comparable sales were even better: up 3.4% on an owned-plus-licensed basis.', ""Along with taking a hard look at its store footprint, Macy's has tried to attract more customers, including more millennial and Gen Z shoppers, by launching new exclusive brands and overhauling its existing ones."", ""Macy's has contended with another challenge: a takeover bid by an activist investor."", ""Arkhouse Management and Brigade Capital have made a bid to buy Macy's and take the company private."", ""Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members."", ""Shares of Macy's closed Tuesday at $20.08, bringing the company's market value to $5.53 billion."", ""As of Tuesday's close, the company's stock was about flat this year, lagging behind the S&P 500's approximately 11% gains during the same period.""]",0.1747220943551635,"The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss.","Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members.",0.2025308990478515,"At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%.","It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again.",2024-05-22
+Media giants lean on sports as Hollywood strikes still loom over content slates,https://www.cnbc.com/2024/05/18/media-upfronts-sports-hollywood-strikes.html,2024-05-21T19:11:01+0000,"Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power.This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows.The hangover from last year's work pause meant some media companies had fewer series and movies to highlight during their presentations. Cost cutting from companies including Disney and Warner Bros. Discovery didn't help matters.Live sports remained the darling of the Upfront meetings, as it still beckons the biggest audiences, and, therefore, the most advertising dollars.""I think [the companies] benefited in terms of earnings during the strike. And I think there was hesitance to ramp up because of all the issues of trying to understand how content expenditure was really driving return,"" said Tom Rogers, Oorbit Gaming and Entertainment executive chairman and former NBC Cable president.""There used to be this kind of automatic, where you put out a certain amount of programs for the new season and it was relatively formulaic without much sense of being able to understand how content drove profitability,"" he added.He noted two key issues for the traditional media companies: the decline of traditional TV and the increasing fees companies have to pay to air live sports.""If you're going to maintain a reduced level of content spending, by definition, that means your entertainment programming has to be reduced,"" Rogers said.Disney played up trailers for the upcoming Disney+ series ""Agatha All Along"" and ""Daredevil: Born Again,"" but for its cable network FX, only highlighted the next season of the popular series ""The Bear,"" which also streams on Hulu. The company also announced the ""Golden Bachelorette,"" the next installment in the popular reality series on broadcast network ABC.Warner Bros. Discovery put series like ""House of the Dragon"" and ""And Just Like That"" — both spinoffs of HBO series — front and center.""A strong content slate — be it sports or entertainment — is only one piece of the puzzle, however,"" said Amy Leifer, chief advertising sales officer at DIRECTV Advertising. ""With the explosive growth of [ad-supported streaming], the modern TV experience is as dependent on content as it is on the ads that support it.""Some films played a big role in the Upfronts, especially after streaming services like NBCUniversal's Peacock got a boost from blockbusters like ""Oppenheimer"" recently.Comcast's NBCUniversal focused on the upcoming musical film ""Wicked,"" and the renewal of some Peacock original series.The summer movie box-office season, which runs from the first weekend in May though Labor Day, is expected to shrink around $800 million this year as the season brings a limited and unsteady stream of blockbuster films. It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.The movie calendar is expected to ramp up in the fourth quarter, with major titles like Warner Bros.' ""Joker: Folie a Deux,"" Paramount's ""Gladiator II,"" Disney Animation's ""Moana 2"" and Universal's ""Wicked"" arriving in cinemas. Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.Meanwhile, tech giants like Netflix and Amazon Prime Video that recently added cheaper, ad-supported tiers to their streaming platforms entered Upfronts week in full force, showcasing not only sports but also upcoming films and series.Amazon, which now owns MGM Studios, noted the renewals and upcoming seasons of original series such as ""Mr. and Mrs. Smith,"" ""The Boys,"" and ""The Summer I Turned Pretty."" Actor Jake Gyllenhaal announced a sequel to ""Roadhouse,"" and Will Ferrell and Reese Witherspoon discussed their film, ""You're Cordially Invited.""Netflix, meanwhile, announced the sequel to Adam Sandler's ""Happy Gilmore,"" as well as a slate of other series.The NFL once again reigned supreme at most Upfront presentations this year.Tentpole sports programming from the Summer Olympics to the NBA — which beckon the biggest TV and streaming audiences, and vast amounts of advertising dollars — were also key parts of the presentations.""We often hear from top clients that the significance of upfront buying has diminished outside of securing placements in live sports,"" said Mike Dupree, chief revenue officer at Teads, a global premium publishing platform. ""Access to quality content in an on-demand world has reduced the scarcity that historically drove the upfront model. Live sports seems to be the last bastion, as proven through rights renegotiations.""NBCUniversal dedicated much of its presentation on the upcoming Summer Olympics in Paris. The NFL played a role in all presentations, including for the newcomer to the ad-supported streaming landscape, Netflix. It made perhaps the biggest sports splash during Upfronts week, when it was announced hours before its presentation that it reached a deal to air NFL games on Christmas Day over the next three years.Amazon showcased Thursday Night Football, its second Black Friday game, and an upcoming wild card playoff game in January — the first ever for Prime.""This year, we saw media giants banking on big bets like ""Wicked,"" the Olympics, and sports superstars like Jason Kelce to generate buzz,"" said Tim Hurd, vice president of media activation at digital marketing agency Goodway Group. ""There was a lot of excitement around the evolving live sports landscape and leveraging college sports, NFL games, and the Olympics as an omni-platform experience.""Kelce, who recently retired from the NFL after 13 years with the Philadelphia Eagles, appeared at Disney's upfront to announce he would be a commentator for ESPN beginning this season. His appearance made headlines — as he and brother Travis Kelce are prone to doing — when he picked up ""Abbott Elementary"" star and creator Quinta Brunson during the event.— Sarah Whitten contributed to this article.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,21/05/2024,"['Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power.', 'This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows.', ""The hangover from last year's work pause meant some media companies had fewer series and movies to highlight during their presentations."", ""Cost cutting from companies including Disney and Warner Bros. Discovery didn't help matters."", 'Live sports remained the darling of the Upfront meetings, as it still beckons the biggest audiences, and, therefore, the most advertising dollars.', '""I think [the companies] benefited in terms of earnings during the strike.', 'And I think there was hesitance to ramp up because of all the issues of trying to understand how content expenditure was really driving return,"" said Tom Rogers,Oorbit Gaming and Entertainment executive chairman and former NBC Cable president.', '""There used to be this kind of automatic, where you put out a certain amount of programs for the new season and it was relatively formulaic without much sense of being able to understand how content drove profitability,"" he added.', 'He noted two key issues for the traditional media companies: the decline of traditional TV and the increasing fees companies have to pay to air live sports.', '""If you\'re going to maintain a reduced level of content spending, by definition, that means your entertainment programming has to be reduced,"" Rogers said.', 'Disney played up trailers for the upcoming Disney+ series ""Agatha All Along"" and ""Daredevil: Born Again,"" but for its cable network FX, only highlighted the next season of the popular series ""The Bear,"" which also streams on Hulu.', 'The company also announced the ""Golden Bachelorette,"" the next installment in the popular reality series on broadcast network ABC.Warner Bros. Discovery put series like ""House of the Dragon"" and ""And Just Like That"" — both spinoffs of HBO series — front and center.', '""A strong content slate — be it sports or entertainment — is only one piece of the puzzle, however,"" said Amy Leifer, chief advertising sales officer at DIRECTV Advertising. ""', 'With the explosive growth of [ad-supported streaming], the modern TV experience is as dependent on content as it is on the ads that support it.', '""Some films played a big role in the Upfronts, especially after streaming services like NBCUniversal\'s Peacock got a boost from blockbusters like ""Oppenheimer"" recently.', 'Comcast\'s NBCUniversal focused on the upcoming musical film ""Wicked,"" and the renewal of some Peacock original series.', 'The summer movie box-office season, which runs from the first weekend in May though Labor Day, is expected to shrink around $800 million this year as the season brings a limited and unsteady stream of blockbuster films.', 'It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.', 'The movie calendar is expected to ramp up in the fourth quarter, with major titles like Warner Bros.\' ""Joker: Folie a Deux,"" Paramount\'s ""Gladiator II,"" Disney Animation\'s ""Moana 2"" and Universal\'s ""Wicked"" arriving in cinemas.', 'Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.', 'Meanwhile, tech giants like Netflix and Amazon Prime Video that recently added cheaper, ad-supported tiers to their streaming platforms entered Upfronts week in full force, showcasing not only sports but also upcoming films and series.', 'Amazon, which now owns MGM Studios, noted the renewals and upcoming seasons of original series such as ""Mr. and Mrs. Smith,"" ""The Boys,"" and ""The Summer I Turned Pretty.""', 'Actor Jake Gyllenhaal announced a sequel to ""Roadhouse,"" and Will Ferrell and Reese Witherspoon discussed their film, ""You\'re Cordially Invited.', '""Netflix, meanwhile, announced the sequel to Adam Sandler\'s ""Happy Gilmore,"" as well as a slate of other series.', 'The NFL once again reigned supreme at most Upfront presentations this year.', 'Tentpole sports programming from the Summer Olympics to the NBA — which beckon the biggest TV and streaming audiences, and vast amounts of advertising dollars — were also key parts of the presentations.', '""We often hear from top clients that the significance of upfront buying has diminished outside of securing placements in live sports,"" said Mike Dupree, chief revenue officer at Teads, a global premium publishing platform. ""', 'Access to quality content in an on-demand world has reduced the scarcity that historically drove the upfront model.', 'Live sports seems to be the last bastion, as proven through rights renegotiations.', '""NBCUniversal dedicated much of its presentation on the upcoming Summer Olympics in Paris.', 'The NFL played a role in all presentations, including for the newcomer to the ad-supported streaming landscape, Netflix.', 'It made perhaps the biggest sports splash during Upfronts week, when it was announced hours before its presentation that it reached a deal to air NFL games on Christmas Day over the next three years.', 'Amazon showcased Thursday Night Football, its second Black Friday game, and an upcoming wild card playoff game in January — the first ever for Prime.', '""This year, we saw media giants banking on big bets like ""Wicked,"" the Olympics, and sports superstars like Jason Kelce to generate buzz,"" said Tim Hurd, vice president of media activation at digital marketing agency Goodway Group. ""', 'There was a lot of excitement around the evolving live sports landscape and leveraging college sports, NFL games, and the Olympics as an omni-platform experience.', '""Kelce, who recently retired from the NFL after 13 years with the Philadelphia Eagles, appeared at Disney\'s upfront to announce he would be a commentator for ESPN beginning this season.', 'His appearance made headlines — as he and brother Travis Kelce are prone to doing — when he picked up ""Abbott Elementary"" star and creator Quinta Brunson during the event.—', 'Sarah Whitten contributed to this article.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.316452400480072,"Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.",It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.,0.1278516389429569,"Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.",It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.,2024-05-22
+Shocking: Some AI developers didn’t listen when a woman rejected their offer,https://edition.cnn.com/2024/05/22/business/scarlett-johansson-open-ai-nightcap/index.html,"
+  Published
+        7:06 AM EDT, Wed May 22, 2024
+    ","If you’ve been snoozing through the Scarlett Johansson-OpenAI drama this week, let me quickly catch you up quickly:
+    
+            A woman rejected a man’s request, twice, and he responded like a child — demonstrating just one of the reasons the world needs to be skeptical of the people and companies profiting from their own breathless AI hype.
+    
+            Bear with me for the slightly longer version.
+    
+            Back in September, Scarlett Johansson, who played the hauntingly complex AI assistant in the 2013 Spike Jonze film “Her,” got a request from OpenAI’s CEO, Sam Altman. He wanted to hire Johansson to voice his company’s newest ChatGPT model, “Sky.” She said no. Several months later, just days before the product launched, he asked her to reconsider.
+    
+            But before she had a chance to say no a second time, OpenAI released the new model with a voice that sounded strikingly similar to Johansson’s. The AI’s debut was both mind-blowing and cringe-y. Mind-blowing because of the bot’s apparent sophistication and human-like qualities, and cringe-worthy given how uncomfortably flirty it sounded, like a caricature of a computer developer’s fantasy.
+    
+            Johansson quickly lawyered up, saying Monday she was “shocked, angered and in disbelief” that Altman would use a voice “so eerily similar” to her own.
+    
+            The company, which hit pause on the update after the legal threat from Johansson, said the voice “belongs to a different professional actress using her own natural speaking voice” and was not intended to resemble Johansson’s. Altman — who is on the record about his love of the Spike Jonze film, and even tweeted the word “her” on the day of the launch — apologized to Johansson on Monday.
+    
+            The rift reflects a broader anxiety among artists, academics and even some AI pioneers over the speed at which tech companies are building and releasing AI tools to the public, with seemingly little regard for intellectual property and safety concerns.
+    
+            It also points to one of the original sins of AI that its developers have yet to resolve: that all of these products are being greenlit, funded and built by the 0.01% of Silicon Valley — a largely young, white and male cohort, whose natural human biases are getting baked in to the AI in ways that even they don’t fully understand, or are aware of.
+    
+            OpenAI was forced to confront some of those concerns late last week, after two prominent employees left the company.
+    
+            One, Jan Leike, wrote on X that the company’s “safety culture and processes have taken a backseat to shiny products.” The other, OpenAI’s co-founder and chief scientist Ilya Sutskever, announced he was leaving to work on another project, without disclosing details, though his departure is especially notable given his key role in (briefly, dramatically) firing Altman last year over concerns that Altman was pushing AI technology “too far, too fast.”
+    
+            Altman even acknowledged Leike’s point, saying: “He’s right we have a lot more to do; we are committed to doing it.” 
+    
+            That’s the kind of diplomatic candor that’s helped make Altman, a 39-year-old billionaire, the face of “responsible AI.” He is a thoughtful, charismatic figure, and he really wants us to trust that he’s looking out for the regular folks as he mints money and races to beat Google and Meta to the AI mountaintop.
+    
+            I’d be curious to ask him, though, when was the last time he watched “Her” — one of his favorite movies that he called “incredibly prophetic” — all the way to the end.
+    
+            Because part of what makes the film great is how Johansson’s warm and empathetic voice lulls the main character (and the audience, ultimately) into an almost hypnotic state of infatuation. Maybe the ease of human-AI companionship is acceptable, or even preferable, to the messy realities of real love, we wonder as we watch Joaquin Phoenix’s character walk alone on a crowded beach, the camera of his phone peeking out of his shirt pocket, smiling because he’s so happy with his AI lover.
+    
+            Of course, by the end of the movie, the AI’s have decamped to some other plane of existence, leaving the humans, with all their messy human needs, to take care of one another once again.
+    
+            “Being friends with AI will be so much easier than forging bonds with human beings,” wrote Wired editor Brian Barrett in a recent essay about the movie. “That doesn’t mean it’s better. Sometimes it’s much worse.”
+    
+            —CNN’s Clare Duffy and Brian Fung contributed reporting.",CNN,22/05/2024,"['If you’ve been snoozing through the Scarlett Johansson-OpenAI drama this week, let me quickly catch you up quickly:  A woman rejected a man’s request, twice, and he responded like a child — demonstrating just one of the reasons the world needs to be skeptical of the people and companies profiting from their own breathless AI hype.', 'Bear with me for the slightly longer version.', 'Back in September, Scarlett Johansson, who played the hauntingly complex AI assistant in the 2013 Spike Jonze film “Her,” got a request from OpenAI’s CEO, Sam Altman.', 'He wanted to hire Johansson to voice his company’s newest ChatGPT model, “Sky.”', 'She said no.', 'Several months later, just days before the product launched, he asked her to reconsider.', 'But before she had a chance to say no a second time, OpenAI released the new model with a voice that sounded strikingly similar to Johansson’s.', 'The AI’s debut was both mind-blowing and cringe-y. Mind-blowing because of the bot’s apparent sophistication and human-like qualities, and cringe-worthy given how uncomfortably flirty it sounded, like a caricature of a computer developer’s fantasy.', 'Johansson quickly lawyered up, saying Monday she was “shocked, angered and in disbelief” that Altman would use a voice “so eerily similar” to her own.', 'The company, which hit pause on the update after the legal threat from Johansson, said the voice “belongs to a different professional actress using her own natural speaking voice” and was not intended to resemble Johansson’s.', 'Altman — who is on the record about his love of the Spike Jonze film, and even tweeted the word “her” on the day of the launch — apologized to Johansson on Monday.', 'The rift reflects a broader anxiety among artists, academics and even some AI pioneers over the speed at which tech companies are building and releasing AI tools to the public, with seemingly little regard for intellectual property and safety concerns.', 'It also points to one of the original sins of AI that its developers have yet to resolve: that all of these products are being greenlit, funded and built by the 0.01% of Silicon Valley — a largely young, white and male cohort, whose natural human biases are getting baked in to the AI in ways that even they don’t fully understand, or are aware of.', 'OpenAI was forced to confront some of those concerns late last week, after two prominent employees left the company.', 'One, Jan Leike, wrote on X that the company’s “safety culture and processes have taken a backseat to shiny products.”', 'The other, OpenAI’s co-founder and chief scientist Ilya Sutskever, announced he wasleaving to work on another project, without disclosing details, though his departure is especially notable given his key role in (briefly, dramatically) firing Altman last year over concerns that Altman was pushing AI technology “too far, too fast.”', 'Altman even acknowledged Leike’s point, saying: “He’s right we have a lot more to do; we are committed to doing it.”', 'That’s the kind of diplomatic candor that’s helped make Altman, a 39-year-old billionaire, the face of “responsible AI.”', 'He is a thoughtful, charismatic figure, and he really wants us to trust that he’s looking out for the regular folks as he mints money and races to beat Google and Meta to the AI mountaintop.', 'I’d be curious to ask him, though, when was the last time he watched “Her” — one of his favorite movies that he called “incredibly prophetic” — all the way to the end.', 'Because part of what makes the film great is how Johansson’s warm and empathetic voice lulls the main character (and the audience, ultimately) into an almost hypnotic state of infatuation.', 'Maybe the ease of human-AI companionship is acceptable, or even preferable, to the messy realities of real love, we wonder as we watch Joaquin Phoenix’s character walk alone on a crowded beach, the camera of his phone peeking out of his shirt pocket, smiling because he’s so happy with his AI lover.', 'Of course, by the end of the movie, the AI’s have decamped to some other plane of existence, leaving the humans, with all their messy human needs, to take care of one another once again.', '“Being friends with AI will be so much easier than forging bonds with human beings,” wrote Wired editor Brian Barrett in a recent essay about the movie. “', 'That doesn’t mean it’s better.', 'Sometimes it’s much worse.”', '—CNN’s Clare Duffy and Brian Fung contributed reporting.']",0.2420026589237893,"Maybe the ease of human-AI companionship is acceptable, or even preferable, to the messy realities of real love, we wonder as we watch Joaquin Phoenix’s character walk alone on a crowded beach, the camera of his phone peeking out of his shirt pocket, smiling because he’s so happy with his AI lover.","Johansson quickly lawyered up, saying Monday she was “shocked, angered and in disbelief” that Altman would use a voice “so eerily similar” to her own.",-0.1189930505222744,"Maybe the ease of human-AI companionship is acceptable, or even preferable, to the messy realities of real love, we wonder as we watch Joaquin Phoenix’s character walk alone on a crowded beach, the camera of his phone peeking out of his shirt pocket, smiling because he’s so happy with his AI lover.","One, Jan Leike, wrote on X that the company’s “safety culture and processes have taken a backseat to shiny products.”",2024-05-22
+Mercedes-Benz workers in Alabama vote against UAW union membership,https://www.cnbc.com/2024/05/17/uaw-vote-mercedes-benz-alabama.html,2024-05-17T21:24:27+0000,"Mercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday.The results are a blow to the UAW's organizing efforts a month after the Detroit union won an organizing drive of roughly 4,330 Volkswagen plant workers in Tennessee. Voting started Monday and ended Friday.Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results.The NLRB said 51 ballots were challenged and not counted, but they aren't determinative to the outcome of the election. There were five void ballots. The union and company have five business days to file objections to the election, including any alleged interference, according to the NLRB. If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.Mercedes-Benz in a statement said company officials ""look forward to continuing to work directly with our Team Members to ensure [Mercedes-Benz US International] is not only their employer of choice, but a place they would recommend to friends and family.""The loss is expected to hurt the UAW in an unprecedented organizing drive launched late last year of 13 non-union automakers in the U.S. after securing record contracts with Detroit automakers Ford Motor, General Motors and Stellantis. Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.UAW President Shawn Fain said while the Mercedes-Benz vote was obviously not the result the union wanted, it was a valiant effort, adding the vote ""isn't a failure"" but a ""bump in the road.""""While this loss stings, I'll tell you this, we're going to keep our heads up, keep our heads up high. These workers have nothing to do but be proud in the effort they put forth and what they've done,"" he said Friday during a media conference. ""We fought the good fight and we're going to continue on, continue forward. Ultimately, these workers here are going to win.""The Mercedes-Benz vote was expected to be more challenging for the union than the Volkswagen plant in Tennessee, where the union had already established a presence after two failed organizing drives in the past decade and where it faced less opposition from the automaker.Stephen Silvia, author of ""The UAW's Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants,"" noted Mercedes-Benz replaced the plant's leader weeks ahead of the election. He said companies routinely do this, promising workers changes at their facilities in an effort to stave of organizing.""Companies do anti-union campaigns because they can be effective, and I think this one was effective,"" said Silvia, a professor at American University in Washington, D.C. ""A common piece of an anti-union campaign is firing the plant manager ... That seems to have persuaded enough of the workers to vote against the union.""Alabama Gov. Kay Ivey, who was one of six Republican governors to condemn the union's organizing drive, hailed the outcome of the vote.""The workers in Vance have spoken, and they have spoken clearly! Alabama is not Michigan, and we are not the Sweet Home to the UAW. We urge the UAW to respect the results of this secret ballot election,"" she said.Workers at Mercedes-Benz's Tuscaloosa plant, located about 60 miles southwest of Birmingham, have produced more than 4 million vehicles since the plant opened in 1997, including 295,000 vehicles in 2023, according to the plant's website.The Alabama plant currently produces vehicles such as the gas-powered GLE and GLS Maybach SUVs as well as the all-electric EQS and EQE SUVs.The NLRB last week said it continues to process and investigate open unfair labor practice charges filed by the UAW against automakers, including six unfair labor practice charges against Mercedes-Benz since March.Fain said Friday the union would continue to move forward with those charges. He declined to say whether the union plans to challenge the election results, saying he'd ""leave that"" to the union's legal team.The charges allege that Mercedes-Benz has ""disciplined employees for discussing unionization at work, prohibited distribution of union materials and paraphernalia, surveilled employees, discharged union supporters, forced employees to attend captive audience meetings, and made statements suggesting that union activity is futile,"" the NLRB said.The union has filed other charges against automakers Honda, Hyundai, Lucid, Rivian, Tesla and Toyota, according to the NLRB.",CNBC,17/05/2024,"['Mercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday.', ""The results are a blow to the UAW's organizing efforts a month after the Detroit union won an organizing drive of roughly 4,330 Volkswagen plant workers in Tennessee."", 'Voting started Monday and ended Friday.', 'Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election.', 'More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results.', ""The NLRB said 51 ballots were challenged and not counted, but they aren't determinative to the outcome of the election."", 'There were five void ballots.', 'The union and company have five business days to file objections to the election, including any alleged interference, accordingto the NLRB.', 'If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.', 'Mercedes-Benz in a statement said company officials ""look forward to continuing to work directly with our Team Members to ensure [Mercedes-Benz US International] is not only their employer of choice, but a place they would recommend to friends and family.', '""The loss is expected to hurt the UAW in an unprecedented organizing drive launched late last year of 13 non-union automakers in the U.S. after securing record contracts with Detroit automakers Ford Motor, General Motors and Stellantis.', 'Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.', 'UAW President Shawn Fain said while the Mercedes-Benz vote was obviously not the result the union wanted, it was a valiant effort, adding the vote ""isn\'t a failure"" but a ""bump in the road.', '""""While this loss stings, I\'ll tell you this, we\'re going to keep our heads up, keep our heads up high.', 'These workers have nothing to do but be proud in the effort they put forth and what they\'ve done,"" he said Friday during a media conference. ""', ""We fought the good fight and we're going to continue on, continue forward."", 'Ultimately, these workers here are going to win.', '""The Mercedes-Benz vote was expected to be more challenging for the union than the Volkswagen plant in Tennessee, where the union had already established a presence after two failed organizing drives in the past decade and where it faced less opposition from the automaker.', 'Stephen Silvia,authorof ""The UAW\'s Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants,"" noted Mercedes-Benz replaced the plant\'s leader weeks ahead of the election.', 'He said companies routinely do this, promising workers changes at their facilities in an effort to stave of organizing.', '""Companies do anti-union campaigns because they can be effective, and I think this one was effective,"" said Silvia, a professor at American University in Washington, D.C. ""A common piece of an anti-union campaign is firing the plant manager ... That seems to have persuaded enough of the workers to vote against the union.', '""Alabama Gov. Kay Ivey, who was one of six Republican governors to condemn the union\'s organizing drive, hailed the outcome of the vote.', '""The workers in Vance have spoken, and they have spoken clearly!', 'Alabama is not Michigan, and we are not the Sweet Home to the UAW.', 'We urge the UAW to respect the results of this secret ballot election,"" she said.', ""Workers at Mercedes-Benz's Tuscaloosa plant, located about 60 miles southwest of Birmingham, have produced more than 4 million vehicles since the plant opened in 1997, including 295,000 vehicles in 2023, according to the plant's website."", 'The Alabama plant currently produces vehicles such as the gas-powered GLE and GLS Maybach SUVs as well as the all-electric EQS and EQE SUVs.', 'The NLRB last week said it continues to process and investigate open unfair labor practice charges filed by the UAW against automakers, including six unfair labor practice charges against Mercedes-Benz since March.', 'Fain said Friday the union would continue to move forward with those charges.', 'He declined to say whether the union plans to challenge the election results, saying he\'d ""leave that"" to the union\'s legal team.', 'The charges allege that Mercedes-Benz has ""disciplined employees for discussing unionization at work, prohibited distribution of union materials and paraphernalia, surveilled employees, discharged union supporters, forced employees to attend captive audience meetings, and made statements suggesting that union activity is futile,"" the NLRB said.', 'The union has filed other charges against automakers Honda, Hyundai, Lucid, Rivian, Tesla and Toyota, according to the NLRB.']",0.0311893796263664,"Mercedes-Benz in a statement said company officials ""look forward to continuing to work directly with our Team Members to ensure [Mercedes-Benz US International] is not only their employer of choice, but a place they would recommend to friends and family.","The NLRB last week said it continues to process and investigate open unfair labor practice charges filed by the UAW against automakers, including six unfair labor practice charges against Mercedes-Benz since March.",0.2721788287162781,"Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.","""The loss is expected to hurt the UAW in an unprecedented organizing drive launched late last year of 13 non-union automakers in the U.S. after securing record contracts with Detroit automakers Ford Motor, General Motors and Stellantis.",2024-05-22
+House Democrats investigate whether Big Oil colluded with OPEC to inflate gas prices,https://edition.cnn.com/2024/05/22/investing/opec-exxon-investigation/index.html,"
+  Published
+        7:00 AM EDT, Wed May 22, 2024
+    ","Congressional Democrats are investigating whether leading US oil companies have illegally colluded with one another and with OPEC to inflate prices at the pump, CNN has learned.
+    
+            Rep. Frank Pallone Jr., the ranking member of the House Committee on Energy and Commerce, sent a letter Tuesday night to ExxonMobil, Chevron, Hess, BP America and three other fossil fuel companies demanding a trove of documents and communications.
+    
+            “If US oil companies are colluding with each other and foreign cartels to manipulate global oil markets and harm American consumers who then pay more at the pump, Congress and the American people deserve to know,” Pallone, a New Jersey Democrat, wrote in a letter to oil CEOs. The companies have until June 5 to respond to the committee.
+    
+            The investigation comes after a stunning accusation from federal regulators against Scott Sheffield, the longtime CEO of a leading Texas producer. The Federal Trade Commission earlier this month accused Sheffield, the founder of Pioneer Natural Resources, of conspiring with OPEC and its allies to boost prices.
+    
+            The FTC said Sheffield sent hundreds of text messages, had multiple WhatsApp conversations and in-person meetings, and made public statements to try to “align oil production” in the Permian Basin in Texas with that of OPEC and OPEC+, a wider producer group that includes Russia.
+    
+            “I am concerned that Mr. Sheffield’s behavior may represent common practices across the industry,” Pallone wrote. “Even more troubling, Mr. Sheffield appears to have attempted to encourage other US oil producers to follow his and Pioneer’s lead in colluding with a cartel to drive up energy costs at Americans expense.”
+    
+            Although OPEC and OPEC+ exist to coordinate production among members, US oil production is supposed to be decided by the free market.
+    
+            Oil CEOs are not allowed to decide whether to raise or lower production because such conduct is prohibited by federal law, which bans price fixing and actions that might restrict competition.
+    
+            “OPEC and OPEC+ have not been able to impose long-term devastating costs upon American consumers in recent years because oil producers here have become the crude oil market’s ‘swing producers’ and must adhere to the antitrust and competition laws of the United States,” Pallone wrote. “Without those protections, American consumers would be at the mercy of OPEC and OPEC+ member nations, including Russia.”
+    
+            In addition to Exxon, Chevron, BP America and Hess, the investigation is targeting Shell USA, Occidental and Devon Energy.
+    
+            CNN has reached out to the companies targeted in the investigation for comment.
+    
+            Pallone argued that public data suggests US oil producers did not ramp up drilling during the period that Sheffield was trying to influence his rivals.
+    
+            Pallone is demanding the oil companies turn over a series of documents, including: all communications between each company’s employees involved in production and representatives of OPEC or OPEC+; a list of meetings between each company and representatives of the oil cartels; all communications between each company and representatives of competitors that “describe or allude to” production; nonpublic communications or meetings executives had with shareholders on oil production; and a description of efforts to influence federal or state governments to “artificially limit” oil production.
+    
+            Pallone sent Exxon additional document demands, including communications between Pioneer employees who were involved in developing production plans and representatives of OPEC and OPEC+.
+    
+            Earlier this month, the FTC gave the green light for Pioneer to be sold to ExxonMobil for $60 billion — but only under an agreement that prevents Sheffield from sitting on Exxon’s board or serving as an adviser.
+    
+            Sheffield was among the oil CEOs who testified before Pallone’s committee during an April 2022 hearing on Big Oil and gas prices.
+    
+            Exxon said it learned of the allegations against Sheffield from the FTC and said the behavior described is “entirely inconsistent with how we do business.”
+    
+            Pioneer released a statement earlier this month defending Sheffield and arguing it was “neither the intent nor an effect of his communications to circumvent the laws and principles protecting market competition.”
+    
+            Pioneer said it disagreed with and was “surprised” by the FTC’s complaint, saying it “reflects a fundamental misunderstanding” of oil markets and “misreads the nature and intents of Mr. Sheffield’s actions.”",CNN,22/05/2024,"['Congressional Democrats are investigating whether leading US oil companies have illegally colluded with one another and with OPEC to inflate prices at the pump, CNN has learned.', 'Rep. Frank Pallone Jr., the ranking member of the House Committee on Energy and Commerce, sent a letter Tuesday night to ExxonMobil, Chevron, Hess, BP America and three other fossil fuel companies demanding a trove of documents and communications.', '“If US oil companies are colluding with each other and foreign cartels to manipulate global oil markets and harm American consumers who then pay more at the pump, Congress and the American people deserve to know,” Pallone, a New Jersey Democrat, wrote in a letter to oil CEOs.', 'The companies have until June 5 to respond to the committee.', 'The investigation comes after astunning accusation from federal regulatorsagainst Scott Sheffield, the longtime CEO of a leading Texas producer.', 'The Federal Trade Commission earlier this month accused Sheffield, the founder of Pioneer Natural Resources, of conspiring with OPEC and its allies to boost prices.', 'The FTC said Sheffieldsent hundreds of text messages, had multiple WhatsApp conversationsandin-person meetings,andmadepublic statements to try to “align oil production” in the Permian Basin in Texas with that of OPEC and OPEC+, a wider producer group that includes Russia.', '“I am concerned that Mr. Sheffield’s behavior may represent common practices across the industry,” Pallone wrote. “', 'Even more troubling, Mr. Sheffield appears to have attempted to encourage other US oil producers to follow his and Pioneer’s lead in colluding with a cartel to drive up energy costs at Americans expense.”', 'Although OPEC and OPEC+ exist to coordinate production among members, US oil production is supposed to be decided by the free market.', 'Oil CEOs are not allowed to decide whether to raise or lower production because such conduct isprohibited by federal law, which bans price fixing and actions that might restrict competition.', '“OPEC and OPEC+ have not been able to impose long-term devastating costs upon American consumers in recent years because oil producers here have become the crude oil market’s ‘swing producers’ and must adhere to the antitrust and competition laws of the United States,” Pallone wrote. “', 'Without those protections, American consumers would be at the mercy of OPEC and OPEC+ member nations, including Russia.”', 'In addition to Exxon, Chevron, BP America and Hess, the investigation is targeting Shell USA, Occidental and Devon Energy.', 'CNN has reached out to the companies targeted in the investigation for comment.', 'Pallone argued that public data suggests US oil producers did not ramp up drilling during the period that Sheffield was trying to influence his rivals.', 'Pallone is demanding the oil companies turn over a series of documents, including: all communications between each company’s employees involved in production and representatives of OPEC or OPEC+; a list of meetings between each company and representatives of the oil cartels; all communications between each company and representatives of competitors that “describe or allude to” production; nonpublic communications or meetings executives had with shareholders on oil production; and a description of efforts to influence federal or state governments to “artificially limit” oil production.', 'Pallone sent Exxon additional document demands, including communications between Pioneer employees who were involved in developing production plans and representatives of OPEC and OPEC+.', 'Earlier this month, the FTC gave the green lightfor Pioneer to be sold to ExxonMobil for $60 billion— but only under an agreement that prevents Sheffield from sitting on Exxon’s board or serving as an adviser.', 'Sheffield was among the oil CEOs who testified before Pallone’s committee during an April2022 hearing on Big Oiland gas prices.', 'Exxon said it learned of the allegations against Sheffield from the FTC and said the behavior described is “entirely inconsistent with how we do business.”', 'Pioneer released a statement earlier this month defending Sheffield and arguing it was “neither the intent nor an effect of his communications to circumvent the laws and principles protecting market competition.”', 'Pioneer said it disagreed with and was “surprised” by the FTC’s complaint, saying it “reflects a fundamental misunderstanding” of oil markets and “misreads the nature and intents of Mr. Sheffield’s actions.”']",-0.0773532036150786,"Earlier this month, the FTC gave the green lightfor Pioneer to be sold to ExxonMobil for $60 billion— but only under an agreement that prevents Sheffield from sitting on Exxon’s board or serving as an adviser.","“OPEC and OPEC+ have not been able to impose long-term devastating costs upon American consumers in recent years because oil producers here have become the crude oil market’s ‘swing producers’ and must adhere to the antitrust and competition laws of the United States,” Pallone wrote. “",-0.8742688775062561,,"Pioneer said it disagreed with and was “surprised” by the FTC’s complaint, saying it “reflects a fundamental misunderstanding” of oil markets and “misreads the nature and intents of Mr. Sheffield’s actions.”",2024-05-22
+"Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy",https://www.cnbc.com/2024/05/22/synapse-bankruptcy-customer-funds.html,2024-05-22T19:21:44+0000,"A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents.Since last year, Synapse — an Andreessen Horowitz-backed startup that serves as a middle-man between customer-facing fintech brands and FDIC-backed banks — has had disagreements with several of its partners about how much in customer balances it owed.The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. On May 11, Synapse cut off access to a technology system that enabled lenders, including Evolve Bank & Trust, to process transactions and account information, according to the filings.That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court.One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy.""I am increasingly desperate and don't know where to turn,"" Bucker wrote. ""I have nearly $38,000 tied up as a result of the halting of transaction processing. This money took years to save up.""Until recently, Synapse, which calls itself the biggest ""banking as a service"" provider, helped a wide swath of the U.S. fintech universe provide services like checking accounts and debit cards. Former partners included Mercury, Dave and Juno, well-known fintech firms that catered to segments including startups, gig workers and crypto users.Synapse had contracts with 20 banks and 100 fintechs, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak.Pathak didn't immediately return an email seeking comment. A spokesman for Evolve declined to comment, instead pointing to a statement on the bank's website that read, in part:""Synapse's abrupt shutdown of essential systems without notice and failure to provide necessary records needlessly jeopardized end users by hindering our ability to verify transactions, confirm end user balances, and comply with applicable law,"" the bank said.It is unclear why Synapse switched the system off, and an explanation couldn't be found in filings.Another customer, Joseph Dominguez of Sacramento, California, told the bankruptcy court on May 20 that he had more than $20,000 held up in his Yotta fintech account.""We are scared that money will be lost if Synapse can not provide ledgers and documents to Evolve or Yotta to prove we are the legitimate owners,"" Dominguez wrote. ""We don't know where our direct deposit has gone, we don't know where our pending withdrawals are currently held.""The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.The BAAS model, used most notably by the pre-IPO fintech firm Chime, allows Silicon Valley-style startups to tap the abilities of small FDIC-backed banks. Together, the ecosystem helped these companies compete against the giants of American banking.Customers mistakenly believed that because funds are ultimately held at real banks, they were as safe and available as any other FDIC-insured accounts, said Jason Mikula, a consultant and newsletter writer who has tracked this case closely.""This is 10 million-plus people who can't pay their mortgages, can't buy their groceries … This is another order of disaster,"" Mikula said.Regulators have yet to take a role in the dispute, partly because the underlying banks involved haven't failed, the point at which the FDIC would usually intervene to make customers whole, Mikula added.The FDIC and Federal Reserve didn't immediately return calls seeking comment.In pleading with the judge in this case, Martin Barash, to help the impacted customers, Buckler noted in his testimonial that while he had other resources besides the locked account, others are not as lucky.""So far the federal government is not willing to help us,"" Buckler wrote. ""As you heard, there are millions affected who are in far worse straits.""Reached by phone on Wednesday, Buckler said he had one message for Americans:""I want to make people aware: Yeah, your money might be safe at the bank, but it is not safe if the fintech or the processor fails,"" he said. ""If this is another FTX, if they were doing funny business with my money, then what?""",CNBC,22/05/2024,"['A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents.', 'Since last year, Synapse — an Andreessen Horowitz-backed startup that serves as a middle-man between customer-facing fintech brands and FDIC-backed banks — has had disagreements with several of its partners about how much in customer balances it owed.', 'The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners.', 'On May 11, Synapse cut off access to a technology system that enabled lenders, including Evolve Bank & Trust, to process transactions and account information, according to the filings.', 'That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court.', 'One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy.', '""I am increasingly desperate and don\'t know where to turn,"" Bucker wrote. ""', 'I have nearly $38,000 tied up as a result of the halting of transaction processing.', 'This money took years to save up.', '""Until recently, Synapse, which calls itself the biggest ""banking as a service"" provider, helped a wide swath of the U.S. fintech universe provide services like checking accounts and debit cards.', 'Former partners included Mercury, Dave and Juno, well-known fintech firms that catered to segments including startups, gig workers and crypto users.', 'Synapse had contracts with 20 banks and 100 fintechs, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak.', ""Pathak didn't immediately return an email seeking comment."", 'A spokesman for Evolve declined to comment, instead pointing to a statement on the bank\'s website that read, in part:""Synapse\'s abrupt shutdown of essential systems without notice and failure to provide necessary records needlessly jeopardized end users by hindering our ability to verify transactions, confirm end user balances, and comply with applicable law,"" the bank said.', ""It is unclear why Synapse switched the system off, and an explanation couldn't be found in filings."", 'Another customer, Joseph Dominguez of Sacramento, California, told the bankruptcy court on May 20 that he had more than $20,000 held up in his Yotta fintech account.', '""We are scared that money will be lost if Synapse can not provide ledgers and documents to Evolve or Yotta to prove we are the legitimate owners,"" Dominguez wrote. ""', ""We don't know where our direct deposit has gone, we don't know where our pending withdrawals are currently held."", '""The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.', 'The BAAS model, used most notably by the pre-IPO fintech firm Chime, allows Silicon Valley-style startups to tap the abilities of small FDIC-backed banks.', 'Together, the ecosystem helped these companies compete against the giants of American banking.', 'Customers mistakenly believed that because funds are ultimately held at real banks, they were as safe and available as any other FDIC-insured accounts, said Jason Mikula, a consultant and newsletter writer who has tracked this case closely.', '""This is 10 million-plus people who can\'t pay their mortgages, can\'t buy their groceries … This is another order of disaster,"" Mikula said.', ""Regulators have yet to take a role in the dispute, partly because the underlying banks involved haven't failed, the point at which the FDIC would usually intervene to make customers whole, Mikula added."", ""The FDIC and Federal Reserve didn't immediately return calls seeking comment."", 'In pleading with the judge in this case, Martin Barash, to help the impacted customers, Buckler noted in his testimonial that while he had other resources besides the locked account, others are not as lucky.', '""So far the federal government is not willing to help us,"" Buckler wrote. ""', 'As you heard, there are millions affected who are in far worse straits.', '""Reached by phone on Wednesday, Buckler said he had one message for Americans:""I want to make people aware: Yeah, your money might be safe at the bank, but it is not safe if the fintech or the processor fails,"" he said. ""', 'If this is another FTX, if they were doing funny business with my money, then what?""']",-0.0896513523496138,"A spokesman for Evolve declined to comment, instead pointing to a statement on the bank's website that read, in part:""Synapse's abrupt shutdown of essential systems without notice and failure to provide necessary records needlessly jeopardized end users by hindering our ability to verify transactions, confirm end user balances, and comply with applicable law,"" the bank said.","Regulators have yet to take a role in the dispute, partly because the underlying banks involved haven't failed, the point at which the FDIC would usually intervene to make customers whole, Mikula added.",-0.7046330166714532,This money took years to save up.,The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners.,2024-05-22
+McDonald's franchisee group says $5 value meal can't last without company investment,https://www.cnbc.com/2024/05/21/mcdonalds-franchisee-group-value-meal.html,2024-05-21T21:34:30+0000,"In this articleAn independent advocacy group of McDonald's franchisees is weighing in on the company's upcoming value meal promotion, cheering affordability for the consumer, but pushing for future contributions from the company to make the discounted offering sustainable for operators in the long run. ""The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators. McDonald's vast resources and financial investment are essential to any sustainable affordable strategy,"" the board of the National Owners Association wrote in a letter to membership.The letter calls the McDonald's business model a ""penny profit business, with 10-15% margins,"" and says ""There simply is not enough profit to discount 30% for this model to be sustainable. It necessitates a financial contribution by McDonald's.""CNBC reported last week that the $5 value meal would be hitting menu boards beginning June 25 and lasting roughly a month. It will include a McChicken or McDouble, four piece chicken nuggets, fries and a drink. The combo would be substantially less than purchasing those items individually.The offering comes as lower-income consumers pull back from certain restaurants in the face of stubborn inflation, and brands look to offer greater value to customers.CNBC reported Coca-Cola had added marketing funds to make the deal more appealing for McDonald's and its franchisees after an initial proposal did not pass internal hurdles. In a statement last week, Coca-Cola said, ""We routinely partner with our customers on marketing programs to meet consumer needs. This helps us grow our businesses together.""McDonald's declined to comment on the NOA letter to its membership. In a statement to CNBC last week on the value meal, the company said, ""We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today.""The company has previously noted cash flows for U.S. franchisees are up nearly 50% on average since 2018. Even when accounting for inflation, 2023 was one of the best years for franchisee cash flow in the company's history, McDonald's has previously said.Beyond the $5 promotion, the NOA letter goes on to suggest the company should continue to innovate on the menu, bringing back items such as snack wraps that use existing chicken breasts, creating affordable options with lower food costs so they are more affordable for owners to sell.The group also suggested taking the top two beverages from McDonald's spinoff chain, CosMc's, and bringing them to flagship locations as a way to excite both customers and employees.These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting ""core and iconic"" items.""Recently [McDonald's CEO Chris Kempczinski] has made public comments about the US consumers' growing need for affordability. This is not a new or unique message; value has always been at our Brands's core,"" NOA said in a letter to membership viewed by CNBC in February.",CNBC,21/05/2024,"[""In this articleAn independent advocacy group of McDonald's franchisees is weighing in on the company's upcoming value meal promotion, cheering affordability for the consumer, but pushing for future contributions from the company to make the discounted offering sustainable for operators in the long run."", '""The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators.', 'McDonald\'s vast resources and financial investment are essential to any sustainable affordable strategy,"" the board of the National Owners Association wrote in a letter to membership.', 'The letter calls the McDonald\'s business model a ""penny profit business, with 10-15% margins,"" and says ""There simply is not enough profit to discount 30% for this model to be sustainable.', ""It necessitates a financial contribution by McDonald's."", '""CNBC reported last week that the $5 value meal would be hitting menu boards beginning June 25 and lasting roughly a month.', 'It will include a McChicken or McDouble, four piece chicken nuggets, fries and a drink.', 'The combo would be substantially less than purchasing those items individually.', 'The offering comes as lower-income consumers pull back from certain restaurants in the face of stubborn inflation, and brands look to offer greater value to customers.', ""CNBC reported Coca-Cola had added marketing funds to make the deal more appealing for McDonald's and its franchisees after an initial proposal did not pass internal hurdles."", 'In a statement last week, Coca-Cola said, ""We routinely partner with our customers on marketing programs to meet consumer needs.', 'This helps us grow our businesses together.', '""McDonald\'s declined to comment on the NOA letter to its membership.', 'In a statement to CNBC last week on the value meal, the company said, ""We know how much it means to our customers when McDonald\'s offers meaningful value and communicates it through national advertising.', ""That's been true since our very beginning and never more important than it is today."", '""The company has previously noted cash flows for U.S. franchisees are up nearly 50% on average since 2018.', ""Even when accounting for inflation, 2023 was one of the best years for franchisee cash flow in the company's history, McDonald's has previously said."", 'Beyond the $5 promotion, the NOA letter goes on to suggest the company should continue to innovate on the menu, bringing back items such as snack wraps that use existing chicken breasts, creating affordable options with lower food costs so they are more affordable for owners to sell.', ""The group also suggested taking the top two beverages from McDonald's spinoff chain, CosMc's, and bringing them to flagship locations as a way to excite both customers and employees."", 'These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting ""core and iconic"" items.', '""Recently [McDonald\'s CEO Chris Kempczinski] has made public comments about the US consumers\' growing need for affordability.', 'This is not a new or unique message; value has always been at our Brands\'s core,"" NOA said in a letter to membership viewed by CNBC in February.']",0.2217713614432277,"In a statement to CNBC last week on the value meal, the company said, ""We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising.",,0.7626634041468302,"""The company has previously noted cash flows for U.S. franchisees are up nearly 50% on average since 2018.","The letter calls the McDonald's business model a ""penny profit business, with 10-15% margins,"" and says ""There simply is not enough profit to discount 30% for this model to be sustainable.",2024-05-22
+Pixar is laying off 14% of its workforce as Disney scales back content,https://www.cnbc.com/2024/05/21/disneys-pixar-layoffs.html,2024-05-21T16:52:56+0000,"Long-expected layoffs are hitting Pixar Animation Studios on Tuesday.Pixar will lay off about 175 employees, or around 14% of the studio's workforce, a spokesperson for parent company Walt Disney told CNBC. The cuts come as CEO Bob Iger works toward his overarching mandate to focus on the quality of its content, not the quantity.Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules. Initially, it was reported that 20% of the animation studio's employees would be laid off.Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns. While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.When theaters closed during the pandemic, Disney sought to pad the company's fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical movies straight to digital.The decision trained parents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen. Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children.As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019. For comparison, just before the pandemic, ""Coco"" generated $796 million globally, while ""Incredibles 2"" tallied $1.24 billion globally, and ""Toy Story 4"" snared $1.07 billion globally.With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.— CNBC's Julia Boorstin contributed to this report",CNBC,21/05/2024,"['Long-expected layoffs are hitting Pixar Animation Studios on Tuesday.', ""Pixar will lay off about 175 employees, or around 14% of the studio's workforce, a spokesperson for parent company Walt Disney told CNBC."", 'The cuts come as CEO Bob Iger works toward his overarching mandate to focus on the quality of its content, not the quantity.', ""Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules."", ""Initially, it was reported that 20% of the animation studio's employees would be laid off."", ""Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns."", 'While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.', ""When theaters closed during the pandemic, Disney sought topad the company's fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical moviesstraight to digital."", 'The decision trainedparents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen.', ""Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children."", 'As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019.', 'For comparison, just before the pandemic, ""Coco"" generated $796 million globally, while ""Incredibles 2"" tallied $1.24 billion globally, and ""Toy Story 4"" snared $1.07 billion globally.', 'With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.—', ""CNBC's Julia Boorstin contributed to this report""]",-0.0605692620657825,"While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.","Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules.",-0.8452608287334442,,"Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children.",2024-05-22
+Israel’s seizure of AP equipment shows its hostile posture toward the free press,https://edition.cnn.com/2024/05/22/media/israels-seizure-ap-equipment-free-press/index.html,"
+  Published
+        7:07 AM EDT, Wed May 22, 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.
+    
+            Israel must do better.
+    
+            The Benjamin Netanyahu-led country on Tuesday took the outrageous step of seizing a camera and other video equipment used by The Associated Press to broadcast a live feed of Gaza — a decision the country only reversed amid severe backlash from free press advocates and following a White House request.
+    
+            “As soon as we learned about the reports, the White House and the State Department immediately engaged with the Government of Israel at high levels to express our serious concern and ask them to reverse this action,” National Security Council spokesperson Adrienne Watson told me, an action that unquestionably played a key role in persuading the Israeli government to publicly backtrack.
+    
+            The brazen anti-media action against the AP on Tuesday, however, is only the latest from Israel, which over the course of the country’s bloody war on the terrorist group Hamas has engaged in a pattern of behavior that calls into serious question its commitment to a free and open press.
+    
+            The country’s leadership has for months evaded questions and calls for accountability over the killing and treatment of journalists in the region as it conducts a protracted military operation in Gaza. Last month, it passed a law that allowed it to shut down the Qatari-owned Al Jazeera network, with authorities raiding the outlet’s offices and taking the channel off the air. And on Tuesday, it used that same law to target the AP, ostensibly confiscating its equipment because it provided its video feed to Al Jazeera, one of its thousands of global clients.
+    
+            Israel is the only democracy in the middle east — and it should act like it. The country should put on proud display the principles and ideals that make up a democratic society, serving as a beacon of light in a region otherwise made up of repressive regimes. And as NSC spokesperson Watson noted to me Tuesday, “The free press is an essential pillar of democracy and members of the media, including AP, do vital work that must be respected.”
+    
+            Unfortunately, the Israeli government’s record on the press no longer reflects what one would expect the leadership of a proud and thriving democracy to look like. Its behavior, instead, is starting to resemble the actions of oppressive governments who seek to control the flow of information and quash dissent.
+    
+            While Israel bowed to pressure on Tuesday and returned the AP’s equipment, the government notably offered no public apology to the renowned wire service. Instead, Israel’s Communications Minister Shlomo Karhi simply said that he had “ordered that the equipment be returned to the AP news agency.”
+    
+            The lack of remorse, coupled with the fact that the new law that was wielded against Al Jazeera remains in effect, speaks volumes about the government’s view of the news media amid its devastating war with Hamas. As the AP noted after its equipment was returned Tuesday, the underlying issues are still unresolved.
+    
+            “While we are pleased with this development,” the outlet said, “we remain concerned about the Israeli government’s use of the foreign broadcaster law and the ability of independent journalists to operate freely in Israel.”",CNN,22/05/2024,"['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.', 'Israelmust do better.', 'TheBenjamin Netanyahu-led country on Tuesday took the outrageous step of seizing a camera and other video equipment used byThe Associated Presstobroadcast a live feed ofGaza— a decision the country only reversed amid severe backlash from free press advocates and following aWhite Houserequest.', '“As soon as we learned about the reports, the White House and theState Departmentimmediately engaged with the Government of Israel at high levels to express our serious concern and ask them to reverse this action,”National Security CouncilspokespersonAdrienne Watsontold me, an action that unquestionably played a key role in persuading the Israeli government to publicly backtrack.', 'The brazen anti-media action against the AP on Tuesday, however, is only the latest from Israel, which over the course of the country’s bloody war on the terrorist groupHamashas engaged in a pattern of behavior that calls into serious question its commitment to a free and open press.', 'The country’s leadership has for monthsevaded questionsand calls for accountability over the killing and treatment of journalists in the region as it conducts a protracted military operation in Gaza.', 'Last month, it passed a law thatallowed it to shut downtheQatari-ownedAl Jazeeranetwork, with authorities raiding the outlet’s offices and taking the channel off the air.', 'And on Tuesday, it used that same law to target the AP, ostensibly confiscating its equipment because it provided its video feed to Al Jazeera, one of its thousands of global clients.', 'Israel is the only democracy in the middle east — and it should act like it.', 'The country should put on proud display the principles and ideals that make up a democratic society, serving as a beacon of light in a region otherwise made up of repressive regimes.', 'And as NSC spokesperson Watson noted to me Tuesday, “The free press is an essential pillar of democracy and members of the media, including AP, do vital work that must be respected.”', 'Unfortunately, the Israeli government’s record on the press no longer reflects what one would expect the leadership of a proud and thriving democracy to look like.', 'Its behavior, instead, is starting to resemble the actions of oppressive governments who seek to control the flow of information and quash dissent.', 'While Israel bowed to pressure on Tuesday and returned the AP’s equipment, the government notably offered no public apology to the renowned wire service.', 'Instead, Israel’sCommunications Minister Shlomo Karhisimply said that he had “ordered that the equipment be returned to the AP news agency.”', 'The lack of remorse, coupled with the fact that the new law that was wielded against Al Jazeera remains in effect, speaks volumes about the government’s view of the news media amid its devastating war with Hamas.', 'As the AP noted after its equipment was returned Tuesday, the underlying issues are still unresolved.', '“While we are pleased with this development,” the outlet said, “we remain concerned about the Israeli government’s use of the foreign broadcaster law and the ability of independent journalists to operate freely in Israel.”']",0.0117489747430648,"And as NSC spokesperson Watson noted to me Tuesday, “The free press is an essential pillar of democracy and members of the media, including AP, do vital work that must be respected.”","The lack of remorse, coupled with the fact that the new law that was wielded against Al Jazeera remains in effect, speaks volumes about the government’s view of the news media amid its devastating war with Hamas.",-0.3600219090779622,Israelmust do better.,"The lack of remorse, coupled with the fact that the new law that was wielded against Al Jazeera remains in effect, speaks volumes about the government’s view of the news media amid its devastating war with Hamas.",2024-05-22
+Short seller alleges Oddity Tech is misleading investors,https://www.cnbc.com/2024/05/21/oddity-tech-short-seller-allegations.html,2024-05-21T21:13:59+0000,"In this articleA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be. The firm, Ningi Research, published a 50-page report that details a slew of allegations against the newly public retailer, including that it runs a fleet of stores in Israel and engages in deceptive billing practices. Ningi has a short position in Oddity but didn't disclose the size of that position.  ""ODDITY fundamentally rejects the short seller report. The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation,"" a company spokesperson wrote in an email to CNBC.Shares of Oddity fell roughly 7% Tuesday.Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online. It bills itself as a purely digital retailer that sells directly to consumers and has said it's seen outsized profits and growth that similar businesses have found difficult to achieve. Ningi Research alleged that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based. Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations. The firm said the stores are not part of a franchise but are instead owned by the company. Oddity said in a statement that the Israeli brick-and-mortar business, totaling 43 retail stores and six beauty schools, represents an ""immaterial"" part of the business — amounting to less than 5% of the company's net revenue, according to the spokesperson.""All of ODDITY's revenue outside of Israel is exclusively from online sales,"" the spokesperson said.The short seller also alleged that the ""secret"" to Oddity's digital growth is in subscriptions, which Ningi claimed can be difficult for consumers to get out of or cancel. ""The sell-side touts ODDITY's 'impressively high' repeat purchase rates of 100 percent, but we don't buy that. Our research indicates that customers unknowingly enter into non-cancelable plans, allowing ODDITY to recognize repeat purchases in the following quarters even though the customers don't want the product,"" the report said. The report also detailed a host of complaints from the Better Business Bureau and social media from customers who say they've been wrongfully charged.Oddity, through the spokesperson, said that the company ""firmly stands behind"" both its use of technology and its customer experience.""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in the statement.In October, an analyst asked the company about customer complaints and if the issue was happening ""at scale."" In response, CEO Oran Holtzman said it's ""important to understand the magnitude of the claim and we're talking about a fraction of a percent."" ""Any online company that operates even close to our sales will experience this, like there will always be a certain percentage who are unhappy,"" said Holtzman. He said that for a ""small portion"" of its customers, it can be easy to get confused about pre-authorizations made to their cards related to Oddity's ""try before you buy"" option, which allows a customer to try out a makeup item. ""Now, I don't think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn't fully read up like how it works and were confused,"" said Holtzman. ""We'll continue to work hard to educate those users and we've invested a lot in technology around it."" Oddity previously told CNBC that more than half of its business is from repeat customers.",CNBC,21/05/2024,"[""In this articleA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be."", 'The firm, Ningi Research, published a 50-page report that details a slew of allegations against the newly public retailer, including that it runs a fleet of stores in Israel and engages in deceptive billing practices.', ""Ningi has a short position in Oddity but didn't disclose the size of that position."", '""ODDITY fundamentally rejects the short seller report.', 'The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation,"" a company spokesperson wrote in an email to CNBC.Shares of Oddity fell roughly 7% Tuesday.', ""Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online."", ""It bills itself as a purely digital retailer that sells directly to consumers and has said it's seen outsized profits and growth that similar businesses have found difficult to achieve."", 'Ningi Research alleged that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based.', ""Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations."", 'The firm said the stores are not part of a franchise but are instead owned by the company.', 'Oddity said in a statement that the Israeli brick-and-mortar business, totaling 43 retail stores and six beauty schools, represents an ""immaterial"" part of the business — amounting to less than 5% of the company\'s net revenue, according to the spokesperson.', '""All of ODDITY\'s revenue outside of Israel is exclusively from online sales,"" the spokesperson said.', 'The short seller also alleged that the ""secret"" to Oddity\'s digital growth is in subscriptions, which Ningi claimed can be difficult for consumers to get out of or cancel.', '""The sell-side touts ODDITY\'s \'impressively high\' repeat purchase rates of 100 percent, but we don\'t buy that.', 'Our research indicates that customers unknowingly enter into non-cancelable plans, allowing ODDITY to recognize repeat purchases in the following quarters even though the customers don\'t want the product,"" the report said.', ""The report also detailed a host of complaints from the Better Business Bureau and social media from customers who say they've been wrongfully charged."", 'Oddity, through the spokesperson, said that the company ""firmly stands behind"" both its use of technology and its customer experience.', '""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in the statement.', 'In October, an analyst asked the company about customer complaints and if the issue was happening ""at scale.""', 'In response, CEO Oran Holtzman said it\'s ""important to understand the magnitude of the claim and we\'re talking about a fraction of a percent.', '""""Any online company that operates even close to our sales will experience this, like there will always be a certain percentage who are unhappy,"" said Holtzman.', 'He said that for a ""small portion"" of its customers, it can be easy to get confused about pre-authorizations made to their cards related to Oddity\'s ""try before you buy"" option, which allows a customer to try out a makeup item.', '""Now, I don\'t think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn\'t fully read up like how it works and were confused,"" said Holtzman. ""', ""We'll continue to work hard to educate those users and we've invested a lot in technology around it."", '""Oddity previously told CNBC that more than half of its business is from repeat customers.']",0.1573720586307279,Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations.,"""ODDITY fundamentally rejects the short seller report.",-0.0934156725804011,"""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in the statement.","""Now, I don't think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn't fully read up like how it works and were confused,"" said Holtzman. """,2024-05-22
+"Water industry investors have withdrawn billions, claims research",https://www.bbc.co.uk/news/articles/cw4478wnjdpo,2024-05-19T23:00:42.271Z,"Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending. Investors have withdrawn £85.2bn from 10 water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.  Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure. Ofwat, the industry regulator, said it ""strongly refuted"" the figures. ""While we agree wholeheartedly with demands for companies to change, the facts are there has been huge investment in the sector of over £200bn,"" a spokesperson said. Water UK, which represents the industry, said investment in the sector was ""double the annual levels seen before privatisation"".  Water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services for households. But David Hall, visiting professor at the Public Services International Research Unit at the University of Greenwich, claims that water companies have invested ""less than nothing of their own money"" and are “treating their customers like a cash cow”. The University of Greenwich examined the company accounts of the top 10 water and sewage companies in England and Wales including Thames Water, United Utilities and Severn Trent. It said that between privatisation in 1989 and 2023, money invested by shareholders in the largest firms shrunk by £5.5bn when adjusted for inflation. Over the same period, the amount of ""retained earnings"" - profits left over once things like dividends have been paid out, that  can be used to invest in a business - had dropped by £6.7bn in real terms. Meanwhile, the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account. Ofwat said the dividend figure was ""simply wrong"".  ""[It] does not represent the true total given it is inflation-adjusted. Ofwat offers the figure since privatisation as £52bn,"" the regulator said. Taken together, the fall in shareholders' investment and retained earnings - or profit - and rising dividend payments mean that, according to the University of Greenwich, owners have withdrawn £85.2bn. Water and sewage firms want to spend around £100bn over the next five years.  They argue that they need more money to improve their infrastructure to help limit leaks. But Prof Hall said: ""You put the prices up because you can and you get more money out of the customers, and then you pass it on to the shareholders because the business you’re in is providing a good return to your shareholders. ""That’s why the companies do what they do and we shouldn’t expect anything different.” A spokesperson for Water UK said: ""Investment requires financing through dividends.  ""Water companies now want to increase the pace of investment, with a record plan over the next five years, to ensure the security of our water supply in the future and significantly reduce the amount of sewage entering rivers and seas.  ""We now need Ofwat to give us the green light to get on with it.” There were 464,056 sewage spills in 2023, according to the Environment Agency, a 54% increase on the previous year.  Sewage is defined as anything that goes down a household drain. That includes from the toilet, personal washing or domestic cleaning such as from a washing machine or doing the dishes. It also includes run-off from roads. A warmer winter and wet weather has meant that many roadside grills have been overwhelmed. The next few weeks are key in determining by how much water companies can raise customers' bills. Ofwat will meet in the coming days to scrutinise water firms’ spending plans and proposed price rises which would affect bills between 2025 and 2030. Ofwat’s draft proposals are set to be published on 12 June.  Water companies can appeal if they do not agree with Ofwat’s recommendations. But Prof Hall said there needed to be a fundamental change in the way that the water industry is run. ""This is a service that matters to us,"" he said. ""What we need to do is reverse this system and move to the way the rest of the world does it which is through public authorities and take it back in the public sector.” A spokesperson for Ofwat said: ""We share the concerns of the general public and campaigners about the performance of water companies which, is simply not good enough. ""We have been holding companies to account and have imposed penalties of over £300m in recent years. We want to see a transformation in companies' performance and will be setting out our plans to deliver this in mid-June."" By Simon Jack, Business editor Given the huge sums borrowed, invested and paid out from water companies since privatisation it is debatable whether the contribution of a billion here or a billion there from private shareholders' own pockets (equity) over that time would have made much difference to the financial problems at some of the water companies. According to Dieter Helm, professor of economic policy at Oxford University, the problem is not the payment of dividends per se, or their reluctance to make additional cash injections. It is the level of debt taken on by some companies without the regulator intervening. Some owners took advantage of the steady inflation-linked revenue from water bills to service large debts, which in some cases were used to pay dividends. In five out of the 10 years that Australian firm Macquarie was Thames Water’s biggest shareholder, dividends exceeded the amount of profit the company was making – and debt quadrupled from £2.5bn to more than £10bn. “Ofwat should never have allowed them to mortgage the balance sheet,” says Prof Helm. Thames shareholders recently withdrew an offer to inject a further £3bn cash into the company when it became clear that Ofwat would not allow them to raise customer bills by the 40% on top of inflation that they were requesting. According to Prof Helm, the regulator has allowed the company's balance sheet to become “exhausted” and while new equity is now needed, Ofwat is “trying to shut the stable door when the horse has bolted”. Arguments on the wisdom of privatising monopolies run deep and long. The pollution in our rivers and beaches is ample evidence of its failure for many, while others point to the fact that some £200bn has been invested in the water network and that is more than would have happened if invisible pipes underground had had to compete with more visible hospitals and schools competing for government money. In that time water bills have actually fallen in real terms, i.e. have risen less than inflation over three decades. That is about to see a sharp reversal as companies ask the regulator to approve bill increases of anywhere between 17% (Anglian Water) to 72% (Southern Water). Companies will not get everything they want but the BBC understands that they will get more than half of the bill increases they are hoping for. ",BBC,19/05/2024,"[""Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending."", 'Investors have withdrawn £85.2bn from 10 water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.', ""Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure."", 'Ofwat, the industry regulator, said it ""strongly refuted"" the figures. ""', 'While we agree wholeheartedly with demands for companies to change, the facts are there has been huge investment in the sector of over £200bn,"" a spokesperson said.', 'Water UK, which represents the industry, said investment in the sector was ""double the annual levels seen before privatisation"".', ""Water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services for households."", 'But David Hall, visiting professor at the Public Services International Research Unit at the University of Greenwich, claims that water companies have invested ""less than nothing of their own money"" and are “treating their customers like a cash cow”.', 'The University of Greenwich examined the company accounts of the top 10 water and sewage companies in England and Wales including Thames Water, United Utilities and Severn Trent.', 'It said that between privatisation in 1989 and 2023, money invested by shareholders in the largest firms shrunk by £5.5bn when adjusted for inflation.', 'Over the same period, the amount of ""retained earnings"" - profits left over once things like dividends have been paid out, that can be used to invest in a business - had dropped by £6.7bn in real terms.', 'Meanwhile, the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account.', 'Ofwat said the dividend figure was ""simply wrong"". ""[', 'It] does not represent the true total given it is inflation-adjusted.', 'Ofwat offers the figure since privatisation as £52bn,"" the regulator said.', ""Taken together, the fall in shareholders' investment and retained earnings - or profit - and rising dividend payments mean that, according to the University of Greenwich, owners have withdrawn £85.2bn."", 'Water and sewage firms want to spend around £100bn over the next five years.', 'They argue that they need more money to improve their infrastructure to help limit leaks.', 'But Prof Hall said: ""You put the prices up because you can and you get more money out of the customers, and then you pass it on to the shareholders because the business you’re in is providing a good return to your shareholders. ""', 'That’s why the companies do what they do and we shouldn’t expect anything different.”', 'A spokesperson for Water UK said: ""Investment requires financing through dividends. ""', 'Water companies now want to increase the pace of investment, with a record plan over the next five years, to ensure the security of our water supply in the future and significantly reduce the amount of sewage entering rivers and seas. ""', 'We now need Ofwat to give us the green light to get on with it.”', 'There were 464,056 sewage spills in 2023, according to the Environment Agency, a 54% increase on the previous year.', 'Sewage is defined as anything that goes down a household drain.', 'That includes from the toilet, personal washing or domestic cleaning such as from a washing machine or doing the dishes.', 'It also includes run-off from roads.', 'A warmer winter and wet weather has meant that many roadside grills have been overwhelmed.', ""The next few weeks are key in determining by how much water companies can raise customers' bills."", 'Ofwat will meet in the coming days to scrutinise water firms’ spending plans and proposed price rises which would affect bills between 2025 and 2030.', 'Ofwat’s draft proposals are set to be published on 12 June.', 'Water companies can appeal if they do not agree with Ofwat’s recommendations.', 'But Prof Hall said there needed to be a fundamental change in the way that the water industry is run. ""', 'This is a service that matters to us,"" he said. ""', 'What we need to do is reverse this system and move to the way the rest of the world does it which is through public authorities and take it back in the public sector.”', 'A spokesperson for Ofwat said: ""We share the concerns of the general public and campaigners about the performance of water companies which, is simply not good enough. ""', 'We have been holding companies to account and have imposed penalties of over £300m in recent years.', 'We want to see a transformation in companies\' performance and will be setting out our plans to deliver this in mid-June.""', ""By Simon Jack, Business editor Given the huge sums borrowed, invested and paid out from water companies since privatisation it is debatable whether the contribution of a billion here or a billion there from private shareholders' own pockets (equity) over that time would have made much difference to the financial problems at some of the water companies."", 'According to Dieter Helm, professor of economic policy at Oxford University, the problem is not the payment of dividends per se, or their reluctance to make additional cash injections.', 'It is the level of debt taken on by some companies without the regulator intervening.', 'Some owners took advantage of the steady inflation-linked revenue from water bills to service large debts, which in some cases were used to pay dividends.', 'In five out of the 10 years that Australian firm Macquarie was Thames Water’s biggest shareholder, dividends exceeded the amount of profit the company was making – and debt quadrupled from £2.5bn to more than £10bn. “', 'Ofwat should never have allowed them to mortgage the balance sheet,” says Prof Helm.', 'Thames shareholders recently withdrew an offer to inject a further £3bn cash into the company when it became clear that Ofwat would not allow them to raise customer bills by the 40% on top of inflation that they were requesting.', ""According to Prof Helm, the regulator has allowed the company's balance sheet to become “exhausted” and while new equity is now needed, Ofwat is “trying to shut the stable door when the horse has bolted”."", 'Arguments on the wisdom of privatising monopolies run deep and long.', 'The pollution in our rivers and beaches is ample evidence of its failure for many, while others point to the fact that some £200bn has been invested in the water network and that is more than would have happened if invisible pipes underground had had to compete with more visible hospitals and schools competing for government money.', 'In that time water bills have actually fallen in real terms, i.e. have risen less than inflation over three decades.', 'That is about to see a sharp reversal as companies ask the regulator to approve bill increases of anywhere between 17% (Anglian Water) to 72% (Southern Water).', 'Companies will not get everything they want but the BBC understands that they will get more than half of the bill increases they are hoping for.']",0.0617000298202696,"Water companies now want to increase the pace of investment, with a record plan over the next five years, to ensure the security of our water supply in the future and significantly reduce the amount of sewage entering rivers and seas. ""","Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure.",0.1285975552522219,"Meanwhile, the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account.","Taken together, the fall in shareholders' investment and retained earnings - or profit - and rising dividend payments mean that, according to the University of Greenwich, owners have withdrawn £85.2bn.",2024-05-22
+How ESPN’s Jeff Darlington landed at the center of the Scottie Scheffler arrest story,https://edition.cnn.com/2024/05/17/media/espn-jeff-darlington-scottie-scheffler-arrest/index.html,"
+  Published
+        10:43 AM EDT, Fri May 17, 2024
+    ","ESPN journalist Jeff Darlington witnessed the arrest of World No. 1 golfer Scottie Scheffler Friday morning before the second round of the PGA Championship in Louisville, Kentucky, thrusting the reporter into the middle of one of the strangest sports stories in recent memory.
+    
+            Darlington and Scheffler had arrived at the course around the same time in preparation for the tournament. After reportedly attempting to drive around the scene of a fatal crash, Scheffler was arrested and charged with a felony and other counts. He was later released and has since teed off in the tournament.
+    
+            Darlington was not only a witness to the incident, he also attempted to intervene. He was only several feet away from Scheffler when the golfer was arrested, and Darlington tried – and failed – to explain to the police that Scheffler was a participant in the tournament.
+    
+            “We didn’t want to be part of this story, we ended up being at least on the periphery,” said ESPN commentator Dave Fleming on air after the incident.
+    
+            ESPN told CNN that the network is not commenting on this story.
+    
+            Darlington broke the news of Scheffler’s arrest in a series of posts on X and explained the incident in greater detail on ESPN’s SportsCenter less than an hour later. He said the incident occurred around 6 a.m. after a “misunderstanding” in which Scheffler tried to circumvent police presence at the scene of an unrelated car accident that occurred outside of golf club.
+    
+            “The police officer attempted to attach himself to Scheffler’s car, and Scheffler then stopped his vehicle at the entrance to Valhalla,” Darlington wrote on X. “The police officer then began to scream at Scheffler to get out of the car. When Scheffler exited the vehicle, the officer shoved Scheffler against the car and immediately placed him in handcuffs.”
+    
+            “At which point (Scheffler) - seeing me behind him - said ‘can you help?’ The police officers instructed me to step back,” Darlington told audiences on air shortly after.
+    
+            In a video posted on X an hour later, Darlington follows the police officers as they lead Scheffler away. Several police officers tell him to step back.
+    
+            “Right now he’s going to jail. He’s going to jail and there’s nothing you can do about it.” one officer told Darlington, referring to Scheffler. Darlington clarifies that he’s a member of the media, and the police reiterate that he needs to step back.
+    
+            “The police officers around the patrol car in which Scottie Scheffler was in had no idea he was even Scottie Scheffler,” Darlington clarified on air. “I say that because one police officer came up to me with his pad and said…can you tell me the name of the person who was just arrested.”
+    
+            Darlington said that players were told they were allowed to enter the facility, and that Scheffler said that he kept driving past the police vehicle because he “didn’t know that he was a police officer.”
+    
+            Scheffler was charged with second-degree assault on a police officer – a felony – along with lesser charges of third-degree criminal mischief, reckless driving and disregarding signals from officers directing traffic, according to Jefferson County court records. He’s been released from jail, according to the Louisville Metro Department of Corrections.
+    
+            Attorney Steve Romines, who represents Scheffler, told CNN affiliate WLKY that the golfer bypassed police because of a misunderstanding.
+    
+            “They were directing traffic, he held his media credential out and was going in like they’d been instructed to,” Romines said. Scheffler’s attorney declined to comment on why the golfer was charged with assault, saying he will let the case play out in court.
+    
+            The PGA Championship tournament was delayed by an hour and a half, and began at around 8:30 Friday morning.
+    
+            “This morning we were devastated to learn that a worker with one of our vendors was tragically struck and killed by a shuttle bus outside Valhalla Golf Club,” PGA said in a statement. “This is heartbreaking to all of us involved with the PGA Championship. We extend our sincere condolences to their family and loved ones.”",CNN,17/05/2024,"['ESPN journalist Jeff Darlington witnessed the arrest of World No.', '1 golfer Scottie Scheffler Friday morning before the second round of the PGA Championship in Louisville, Kentucky, thrusting the reporter into the middle of one of the strangest sports stories in recent memory.', 'Darlington and Scheffler had arrived at the course around the same time in preparation for the tournament.', 'After reportedly attempting to drive around the scene of a fatal crash, Schefflerwas arrested and charged with a felony and other counts.', 'He was later released and has since teed off in the tournament.', 'Darlington was not only a witness to the incident, he also attempted to intervene.', 'He was only several feet away from Scheffler when the golfer was arrested, and Darlington tried – and failed – to explain to the police that Scheffler was a participant in the tournament.', '“We didn’t want to be part of this story, we ended up being at least on the periphery,” said ESPN commentator Dave Fleming on air after the incident.', 'ESPN told CNN that the network is not commenting on this story.', 'Darlington broke the news of Scheffler’s arrest in a series of posts on X and explained the incident in greater detail on ESPN’s SportsCenter less than an hour later.', 'He said the incident occurred around 6 a.m. after a “misunderstanding” in which Scheffler tried to circumvent police presence at the scene of an unrelated car accident that occurred outside of golf club.', '“The police officer attempted to attach himself to Scheffler’s car, and Scheffler then stopped his vehicle at the entrance to Valhalla,” Darlington wrote on X. “The police officer then began to scream at Scheffler to get out of the car.', 'When Scheffler exited the vehicle, the officer shoved Scheffler against the car and immediately placed him in handcuffs.”', '“At which point (Scheffler) - seeing me behind him - said ‘can you help?’', 'The police officers instructed me to step back,” Darlington told audiences on air shortly after.', 'In a video posted on X an hour later, Darlington follows the police officers as they lead Scheffler away.', 'Several police officers tell him to step back.', '“Right now he’s going to jail.', 'He’s going to jail and there’s nothing you can do about it.”', 'one officer told Darlington, referring to Scheffler.', 'Darlington clarifies that he’s a member of the media, and the police reiterate that he needs to step back.', '“The police officers around the patrol car in which Scottie Scheffler was in had no idea he was even Scottie Scheffler,” Darlington clarified on air. “', 'I say that because one police officer came up to me with his pad and said…can you tell me the name of the person who was just arrested.”', 'Darlington said that players were told they were allowed to enter the facility, and that Scheffler said that he kept driving past the police vehicle because he “didn’t know that he was a police officer.”', 'Scheffler was charged with second-degree assault on a police officer – a felony – along with lesser charges of third-degree criminal mischief, reckless driving and disregarding signals from officers directing traffic, according to Jefferson County court records.', 'He’s been released from jail, according to the Louisville Metro Department of Corrections.', 'Attorney Steve Romines, who represents Scheffler,told CNN affiliate WLKY that the golfer bypassed police because of a misunderstanding.', '“They were directing traffic, he held his media credential out and was going in like they’d been instructed to,” Romines said.', 'Scheffler’s attorney declined to comment on why the golfer was charged with assault, saying he will let the case play out in court.', 'The PGA Championship tournament was delayed by an hour and a half, and began at around 8:30 Friday morning.', '“This morningwe were devastated to learn that a worker with one of our vendors was tragically struck and killed by a shuttle bus outside Valhalla Golf Club,” PGA said in a statement. “', 'This is heartbreaking to all of us involved with the PGA Championship.', 'We extend our sincere condolences to their family and loved ones.”']",-0.1500214260299451,We extend our sincere condolences to their family and loved ones.”,"Scheffler was charged with second-degree assault on a police officer – a felony – along with lesser charges of third-degree criminal mischief, reckless driving and disregarding signals from officers directing traffic, according to Jefferson County court records.",-0.8828043639659882,,"“This morningwe were devastated to learn that a worker with one of our vendors was tragically struck and killed by a shuttle bus outside Valhalla Golf Club,” PGA said in a statement. “",2024-05-22
+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.",2024-05-22
+Inflation is biting into Target’s ‘Tar-zhay’ luster,https://edition.cnn.com/2024/05/22/investing/target-earnings/index.html,"
+  Updated
+        9:53 AM EDT, Wed May 22, 2024
+    ","Target has spent decades building a reputation for cheap chic home goods, clothing and other merchandise. But surging prices in recent years dented the luster of “Tar-zhay.”
+    
+            The company reported Wednesday that sales at stores open for at least one year dropped 3.7% during its latest quarter from a year ago. It was the fourth-straight quarter of sales declines at Target (TGT). The company’s stock fell around 7% during pre-market trading.
+    
+            Sales dropped primarily in discretionary categories last quarter, Target said, continuing a trend during the inflation spike in which customers spend on necessary items but pare back on stuff they don’t really need.
+    
+            Target is a bellwether for consumers’ spending habits and the retail sector as a whole. Target’s core middle-class customer base has been strained by higher prices and pulled back on discretionary goods like home decor, electronics and nonessential clothing in favor of groceries and everyday essentials.
+    
+            Target has also slumped because of its merchandise mix and higher prices compared to rivals like Walmart.
+    
+            The chain stocks more non-essential merchandise compared to competitors such as Walmart (WMT) and Costco (COST). More than half of Target’s merchandise is discretionary. Target in recent years has added more food and essentials to its stores, but still trails Walmart, which gets around half of sales from groceries.
+    
+            Walmart’s sales increased 3.8% last quarter.
+    
+            Target is trying to lure back shoppers by cutting prices on some key items and adding its own brands.
+    
+            Target has slashed prices on more than 1,500 popular items starting Monday, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices.
+    
+            The company also recently created a new house brand called Dealworthy to take on dollar stores and Walmart. The budget-friendly lineup consists of 400 items, from phone chargers to disposable plates and even underwear.",CNN,22/05/2024,"['Target has spent decades building a reputation for cheap chic home goods, clothing and other merchandise.', 'But surging prices in recent years dented the luster of “Tar-zhay.”', 'The company reported Wednesday that sales at stores open for at least one year dropped 3.7% during its latest quarter from a year ago.', 'It was the fourth-straight quarter of sales declines at Target (TGT).', 'The company’s stock fell around 7% during pre-market trading.', 'Sales dropped primarily in discretionary categories last quarter, Target said, continuing a trend during the inflation spike in which customers spend on necessary items but pare back on stuff they don’t really need.', 'Target is a bellwether for consumers’ spending habits and the retail sector as a whole.', 'Target’s core middle-class customer base has been strained by higher prices and pulled back on discretionary goods like home decor, electronics and nonessential clothing in favor of groceries and everyday essentials.', 'Target has also slumped because of its merchandise mix and higher prices compared to rivals like Walmart.', 'The chain stocks more non-essential merchandise compared to competitors such as Walmart(WMT)and Costco(COST).', 'More than half of Target’smerchandise is discretionary.', 'Target in recent years has added more food and essentials to its stores, but still trails Walmart, which gets around half of sales from groceries.', 'Walmart’s sales increased 3.8% last quarter.', 'Target is trying to lure back shoppers by cutting prices on some key items and adding its own brands.', 'Targethas slashed prices on more than 1,500 popular items starting Monday, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices.', 'The company also recently created a new house brand calledDealworthyto take on dollar stores and Walmart.', 'The budget-friendly lineup consists of 400 items, from phone chargers to disposable plates and even underwear.']",0.1575084281344229,"Targethas slashed prices on more than 1,500 popular items starting Monday, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices.",,-0.3229859819014867,Walmart’s sales increased 3.8% last quarter.,Target has also slumped because of its merchandise mix and higher prices compared to rivals like Walmart.,2024-05-22
+"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.",2024-05-22
+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.",2024-05-22
+Strong spending is obscuring an economy that isn’t working for many Americans,https://edition.cnn.com/2024/05/22/investing/premarket-stocks-trading/index.html,"
+  Published
+        7:35 AM EDT, Wed May 22, 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.
+    
+            Even after years of inflation, geopolitical chaos and recession in Europe, the US economy remains robust and resilient.
+    
+            The reason for that is mostly the American consumer, with spending accounting for about 70% of gross domestic product.
+    
+            But some observers now worry that the economy represents a tale of two Americas. Some businesses and consumers continue to thrive, while others are falling by the wayside.
+    
+            What’s happening: Economic activity in the US remains relatively strong, but there are some signs that the momentum is beginning to cool. Unemployment rose to 3.9% last month, lower-income consumers are spending less and businesses are limiting employee hours and pay.
+    
+            Consumer growth in general is beginning to moderate, but gently.
+    
+            “That may mask more pronounced financial difficulties for the bottom three income quintiles facing the strenuous combination of higher prices, larger interest burdens and softening job prospects,” said EY chief economist Gregory Daco in a note on Tuesday.
+    
+            While consumer balance sheets are still holding strong in aggregate — the US has added $40 trillion in wealth since the start of 2020, and Americans haven’t stopped spending —not every balance sheet looks the same.
+    
+            “The economy is bifurcated into the haves and have-nots, as middle class Americans are struggling with rising prices and lagging wage growth,” said Skyler Weinand, chief investment officer at Regan Capital in a statement.
+    
+            This earnings season exemplifies that growing divide.
+    
+            McDonald’s (MCD) reported that people of all income levels are seeking value. Starbucks (SBUX) said that customers are becoming more particular about where they spend their money. Mondelez (MDLZ) executives discussed an increase in price sensitivity in their earnings call.
+    
+            A recent survey by Santander Bank of its customers found that while inflation fears have largely subsided, middle-income Americans are pessimistic about the economy. About 60% believe the US will enter a recession in the next 12 months, and 62% are making significant cuts to their household spending, the bank found.
+    
+            “It’s well known that the lowest income consumer is really struggling with inflation, but from a purely economic standpoint, it is the higher quintiles of earners that do the most spending,” Nanette Abuhoff Jacobson, global investment strategist at Hartford Funds, told my colleague Bryan Mena.
+    
+            Why it matters: There are many shapes to a recession.
+    
+            Some economists have speculated that the US has been in a so-called “rolling recession” where only certain sectors of the economy are impacted. But there are also recessions that mostly hurt lower-income Americans.
+    
+            A K-shaped recession is what happens when separate communities are hit by and recover from economic downturns at varying rates.
+    
+            Some parts of society may experience renewed growth while others continue to lag behind. While the recovery from the 2020 recession can be described as V-shaped, many point out that it was actually two-pronged. Low-income Black and Hispanic families saw the fastest depletion of their savings during the pandemic, for example.
+    
+            Many who worked in white-collar jobs recovered quickly as the government handed out stimulus payments and as stocks and home prices appreciated. Those without savings and who worked service jobs continued to suffer. Employees receiving the lowest wages were the most likely to lose their jobs in nearly every sector of the economy between 2020 and 2021, according to data from the Bureau of Labor Statistics.
+    
+            Those Americans could still be suffering, but their stories are obscured by data that paints a broad picture of a resilient economy.
+    
+            What’s next: That bifurcated economy, wrote Daco, will lead some businesses to succeed while others struggle. It “will also lead to conflicting inflation signals with some sectors experiencing outright deflation and others experiencing persistently elevated inflation,” he said.
+    
+            That could make it a lot more difficult for Federal Reserve officials to decide whether to lower interest rates or keep them steady during their next few policy meetings. There’s a danger that if monetary policy is too strict, it could quickly make financial conditions tougher, said Daco.
+    
+            “This, along with growing concerns about the country’s financial direction, might cause businesses and consumers to pull back on spending and investment,” he said.
+    
+            JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday.
+    
+            Dimon is one of the most well-known and closely listened to CEOs in the world. Over the course of his tenure at JPMorgan Chase, he’s become somewhat synonymous with the largest US bank by assets.
+    
+            But Dimon can’t lead forever, and at 68 years old, the question of succession has grown more important.
+    
+            The timetable for stepping down — which he has long joked was “five years away” any time the question was put to him — is “not five years anymore,” Dimon said at the bank’s investor conference this week.
+    
+            Dimon, who has led the bank since 2006, said that while “I still have the energy I’ve always had, I think when I can’t put on the jersey … I should leave.”
+    
+            Succession plans at the bank, he said, are “well on the way.”
+    
+            Shares of the company’s stock sold off after Dimon’s announcement, closing 4.3% lower.
+    
+            “We believe that it will take time for the street to gain comfort with the next CEO and [Monday’s] stock reaction was evidence of that,” wrote Bank of America analysts in a note on Tuesday. “Dimon has delivered unparalleled shareholder returns during his tenure as CEO while navigating the bank through some major macro-economic crises.”
+    
+            The Bank of America analysts forecast that Dimon will step down in late 2025 or 2026, but the specifics of JPMorgan’s succession plans have been the subject of speculation on Wall Street for many years.
+    
+            Earlier this year, some of the bank’s top executives were moved into new roles in order to expand their experience.
+    
+            The bank appointed Marianne Lake as the sole CEO of the consumer division, an area previously run by both Lake and Jennifer Piepszak.
+    
+            Piepszak, meanwhile, now leads the company’s newly combined commercial and investment bank with her co-CEO Troy Rohrbaugh. Rohrbaugh is the former head of trading and securities services for the bank.
+    
+            Other potential successors include Mary Erdoes, CEO of asset and wealth management; chief financial officer Jeremy Barnum and president and chief operating officer Daniel Pinto.
+    
+            In 2020, Dimon experienced an “acute aortic dissection” — a tear in the inner lining of the aorta blood vessel — requiring surgery. Then co-COOs Gordon Smith and Daniel Pinto led the company in his absence.
+    
+            Smith retired from the bank in January 2022.
+    
+            Microsoft jumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales.
+    
+            The developments push the company closer to its long-time goal to “build computers that understand us versus us having to understand computers,” CEO Satya Nadella told the audience at the company’s annual developer conference at its Redmond, Washington headquarters.
+    
+            “I feel like we’re really close to that real breakthrough,” he added.
+    
+            The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years. The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.
+    
+            Microsoft’s new lineup of Copilot+ PCs, which feature a new Surface Pro tablet and Surface laptop, include AI tools that don’t require internet connection — the AI processing occurs directly on the device
+    
+            The new hardware runs on OpenAI’s new GPT-4o technology, which aims to turn ChatGPT into a digital personal assistant that can engage in real-time, spoken conversations and interact using text and “vision.” Announced last week, it can view screenshots, photos, documents or charts uploaded by users and have a conversation about them.
+    
+            The new hardware also plays up Microsoft’s existing AI assistant called Copilot, which works across various products, including Bing and Microsoft 365. It can help with tasks such as writing, keeping track of emails in Outlook or designing presentations in PowerPoint.
+    
+            Read more here.",CNN,22/05/2024,"['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.', 'Even after years of inflation, geopolitical chaos and recession in Europe, the US economy remains robust and resilient.', 'The reason for that is mostly the American consumer, with spending accounting for about 70% of gross domestic product.', 'But some observers now worry that the economy represents a tale of two Americas.', 'Some businesses and consumers continue to thrive, while others are falling by the wayside.', 'What’s happening: Economic activity in the US remains relatively strong, but there are some signs that the momentum is beginning to cool.', 'Unemployment rose to 3.9% last month, lower-income consumers are spending less and businesses are limiting employee hours and pay.', 'Consumer growth in general is beginning to moderate, but gently.', '“That may mask more pronounced financial difficulties for the bottom three income quintiles facing the strenuous combination of higher prices, larger interest burdens and softening job prospects,” said EY chief economist Gregory Daco in a note on Tuesday.', 'While consumer balance sheets are still holding strong in aggregate — the US has added $40 trillion in wealth since the start of 2020, and Americans haven’t stopped spending —not every balance sheet looks the same.', '“The economy is bifurcated into the haves and have-nots, as middle class Americans are struggling with rising prices and lagging wage growth,” said Skyler Weinand, chief investment officer at Regan Capital in a statement.', 'This earnings season exemplifies that growing divide.', 'McDonald’s (MCD) reported that people of all income levels are seeking value.', 'Starbucks (SBUX) said that customers are becoming more particular about where they spend their money.', 'Mondelez (MDLZ) executives discussed an increase in price sensitivity in their earnings call.', 'A recent survey by Santander Bank of its customers found that while inflation fears have largely subsided, middle-income Americans are pessimistic about the economy.', 'About 60% believe the US will enter a recession in the next 12 months, and 62% are making significant cuts to their household spending, the bank found.', '“It’s well known that the lowest income consumer is really struggling with inflation, but from a purely economic standpoint, it is the higher quintiles of earners that do the most spending,” Nanette Abuhoff Jacobson, global investment strategist at Hartford Funds, told my colleague Bryan Mena.', 'Why it matters: There are many shapes to a recession.', 'Some economists have speculated that the US has been in a so-called “rolling recession” where only certain sectors of the economy are impacted.', 'But there are also recessions that mostly hurt lower-income Americans.', 'A K-shaped recession is what happens when separate communities are hit by and recover from economic downturns at varying rates.', 'Some parts of society may experience renewed growth while others continue to lag behind.', 'While the recovery from the 2020 recession can be described as V-shaped, many point out that it was actually two-pronged.', 'Low-income Black and Hispanic families saw the fastest depletion of their savings during the pandemic, for example.', 'Many who worked in white-collar jobs recovered quickly as the government handed out stimulus payments and as stocks and home prices appreciated.', 'Those without savings and who worked service jobs continued to suffer.', 'Employees receiving the lowest wages were the most likely to lose their jobs in nearly every sector of the economy between 2020 and 2021, according to data from the Bureau of Labor Statistics.', 'Those Americans could still be suffering, but their stories are obscured by data that paints a broad picture of a resilient economy.', 'What’s next: That bifurcated economy, wrote Daco, will lead some businesses to succeed while others struggle.', 'It “will also lead to conflicting inflation signals with some sectors experiencing outright deflation and others experiencing persistently elevated inflation,” he said.', 'That could make it a lot more difficult for Federal Reserve officials to decide whether to lower interest rates or keep them steady during their next few policy meetings.', 'There’s a danger that if monetary policy is too strict, it could quickly make financial conditions tougher, said Daco.', '“This, along with growing concerns about the country’s financial direction, might cause businesses and consumers to pull back on spending and investment,” he said.', 'JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday.', 'Dimon is one of the most well-known and closely listened to CEOs in the world.', 'Over the course of his tenure at JPMorgan Chase, he’s become somewhat synonymous with the largest US bank by assets.', 'But Dimon can’t lead forever, and at 68 years old, thequestion of successionhas grown more important.', 'The timetable for stepping down — which he has long joked was “five years away” any time the question was put to him — is “not five years anymore,” Dimon said at the bank’s investor conference this week.', 'Dimon, who has led the bank since 2006, said that while “I still have the energy I’ve always had, I think when I can’t put on the jersey … I should leave.”', 'Succession plans at the bank, he said, are “well on the way.”', 'Shares of the company’s stock sold off after Dimon’s announcement, closing 4.3% lower.', '“We believe that it will take time for the street to gain comfort with the next CEO and [Monday’s] stock reaction was evidence of that,” wrote Bank of America analysts in a note on Tuesday.', '“Dimonhas delivered unparalleled shareholder returns during his tenure as CEO while navigating the bank through some major macro-economic crises.”', 'The Bank of America analysts forecast that Dimon will step down in late 2025 or 2026, but the specifics of JPMorgan’s succession plans have been the subject of speculation on Wall Street for many years.', 'Earlier this year, some of the bank’s top executives were moved into new roles in order to expand their experience.', 'The bank appointed Marianne Lake as the sole CEO of the consumer division, an area previously run by both Lake and Jennifer Piepszak.', 'Piepszak, meanwhile, now leads the company’s newly combined commercial and investment bank with her co-CEO Troy Rohrbaugh.', 'Rohrbaugh is the former head of trading and securities services for the bank.', 'Other potential successors include Mary Erdoes, CEO of asset and wealth management; chief financial officer Jeremy Barnum and president and chief operating officer Daniel Pinto.', 'In 2020, Dimon experienced an “acute aortic dissection” — a tear in the inner lining of the aorta blood vessel — requiring surgery.', 'Then co-COOs Gordon Smith and Daniel Pintoled the company in his absence.', 'Smith retired from the bank in January 2022.', 'Microsoftjumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales.', 'Thedevelopments push the company closer to its long-time goalto “build computers that understand us versus us having to understand computers,”CEO Satya Nadella told the audienceat the company’s annual developer conferenceat its Redmond, Washington headquarters.', '“I feel like we’re really close to that real breakthrough,” he added.', 'The computers, which are packed with processors that power advanced AI tools, comeas PC sales have stalled for years.', 'The company hopes the new machineswillboost sales and revive excitement, particularlyasAI is expected to become increasingly part of everyday life.', 'Microsoft’s new lineup of Copilot+ PCs, which feature a new Surface Pro tabletand Surface laptop, includeAI tools that don’t require internet connection — the AI processing occurs directly on the device  The new hardware runs on OpenAI’s new GPT-4o technology, which aims to turn ChatGPT into a digital personal assistant that can engage in real-time, spoken conversations and interact using text and “vision.”', 'Announced last week, it can view screenshots, photos, documents or charts uploaded by users and have a conversation about them.', 'The new hardware also plays upMicrosoft’s existing AI assistant called Copilot, which works across various products, including Bing and Microsoft 365.', 'It can help with tasks such as writing, keeping track ofemails in Outlook or designingpresentations in PowerPoint.', 'Read more here.']",0.0315674955793293,"The company hopes the new machineswillboost sales and revive excitement, particularlyasAI is expected to become increasingly part of everyday life.",But there are also recessions that mostly hurt lower-income Americans.,-0.0473078102678866,"Unemployment rose to 3.9% last month, lower-income consumers are spending less and businesses are limiting employee hours and pay.","Low-income Black and Hispanic families saw the fastest depletion of their savings during the pandemic, for example.",2024-05-22
+Post Office: Paula Vennells admits giving incorrect evidence,https://www.bbc.co.uk/news/articles/cq550449zwyo,2024-05-22T10:30:07.149Z,"Former Post Office boss Paula Vennells has admitted that evidence she gave to MPs looking into problems with the Horizon IT system in 2012 was not true. Speaking publicly for the first time in almost ten years, Ms Vennells broke down as she was questioned over the scandal, saying her previous assertion that there had been no failed Horizon prosecutions was not correct. In the most anticipated appearance of the long-running Post Office scandal inquiry, Ms Vennells was questioned in a packed inquiry room with sub-postmasters and post-mistresses coming to watch her give evidence. Asked by inquiry lead counsel Jason Beer about evidence she gave to MPs in June 2012, in which she told them that every Horizon case brought against sub-postmasters had been successful, Mr Beer listed a number of cases that had not been. ""I fully accept now, that the Post Office - excuse me,"" said Ms Vennells as she paused and began crying. ""The Post Office knew that,"" she said. ""I completely accept it. Personally, I didn't know that, and I'm incredibly sorry that it happened to those people and to so many others."" Throughout the day Ms Vennells repeatedly apologised, and she broke down in tears four times. However, some who were present in the room had expressions of disbelief, some shook their heads, and some laughed at points made by lead counsel Mr Beer. Between 1999 and 2015, more than 900 people who ran post offices were prosecuted after Horizon, a faulty computer system, made it look like money was missing from their branches. Some sub-postmasters were sent to prison and many suffered financial hardship. Some have since died. Ms Vennells was chief executive of the Post Office from 2012 to 2019, a period of time when sub-postmasters were still being prosecuted, but the organisation continued to deny faults with the Horizon IT software was to blame for shortfalls in accounts. This was despite mounting evidence of wrongful convictions. Ushered into Aldwych House among crowds, cameras and photographers, she began to be questioned and key lines emerged:  Former sub-postmistress Jo Hamilton told the BBC that Ms Vennells had been on a ""charm offensive"" and that she didn't believe that she had not been aware of Horizon faults earlier than she admitted. Seema Misra, who was eight weeks pregnant with her second child when she was wrongly convicted of false accounting and theft and jailed, told the BBC that Ms Vennells denials of knowledge were part of a ""cover-up"". There was anger too, from some former sub-postmasters. Harjinder Butoy, who was wrongfully convicted of stealing £208,000 and served an 18-month prison term, said he was struggling to to believe ""anything that comes out of her mouth"" and he didn't believe her tears were genuine. The inquiry was also shown text messages from January this year which revealed former Royal Mail boss Moya Greene said she believed Ms Vennells knew about Horizon faults earlier than she had admitted. The text message exchange followed the screening of an ITV drama that thrust the scandal back into the spotlight. Dame Greene wrote: ""When it was clear the system was at fault, the [Post Office] should have raised a red flag, stopped all proceedings, given people back their money and then tried to compensate them for the ruin this caused in their lives."" Ms Vennells replied: ""Yes, I agree. This has/is taking too long Moya. The toll on everyone affected is dreadful. I hope you had good break and are well. BW Paula.” Dame Greene then wrote: ""I don’t know what to say. I think you knew."" Ms Vennells then said: ""No Moya, that isn’t the case."" Mr Beer asked Ms Vennells: ""How could you not know?"" Ms Vennells said: ""This is a situation that is so complex, it is a question I have asked myself as well. ""I have learned some things that I did not know as a result of the inquiry and I imagine that we will go through some of the detail of that. I wish I had known."" As she apologised to sub-postmasters, campaigners, and to the inquiry itself, people, some of whom were sub-postmasters, remained silent, with a few shaking their heads. She said she was ""very affected"" by the human impact statements given by those affected by the scandal. Ms Vennells also apologised to campaigner Alan Bates, to forensic accountants Second Sight who were sacked by the Post Office after finding bugs in Horizon, and to Lord Arbuthnot, who has also campaigned on the behalf of sub-postmasters. Mr Beer asked the former Post Office boss if she thought she had been the ""unluckiest"" chief executive in the UK given that, according to her witness statements, she wasn't given information about Horizon, didn't see certain documents, and had been given assurances about the IT system by Post Office staff. ""I was given much information, and as the inquiry has heard, there was information that I wasn't given, and others didn't receive,"" she said. She added that she had been ""too trusting"" and that she was ""disappointed"" where information hadn't been shared. ",BBC,22/05/2024,"['Former Post Office boss Paula Vennells has admitted that evidence she gave to MPs looking into problems with the Horizon IT system in 2012 was not true.', 'Speaking publicly for the first time in almost ten years, Ms Vennells broke down as she was questioned over the scandal, saying her previous assertion that there had been no failed Horizon prosecutions was not correct.', 'In the most anticipated appearance of the long-running Post Office scandal inquiry, Ms Vennells was questioned in a packed inquiry room with sub-postmasters and post-mistresses coming to watch her give evidence.', 'Asked by inquiry lead counsel Jason Beer about evidence she gave to MPs in June 2012, in which she told them that every Horizon case brought against sub-postmasters had been successful, Mr Beer listed a number of cases that had not been. ""', 'I fully accept now, that the Post Office - excuse me,"" said Ms Vennells as she paused and began crying. ""', 'The Post Office knew that,"" she said. ""', 'I completely accept it.', 'Personally, I didn\'t know that, and I\'m incredibly sorry that it happened to those people and to so many others.""', 'Throughout the day Ms Vennells repeatedly apologised, and she broke down in tears four times.', 'However, some who were present in the room had expressions of disbelief, some shook their heads, and some laughed at points made by lead counsel Mr Beer.', 'Between 1999 and 2015, more than 900 people who ran post offices were prosecuted after Horizon, a faulty computer system, made it look like money was missing from their branches.', 'Some sub-postmasters were sent to prison and many suffered financial hardship.', 'Some have since died.', 'Ms Vennells was chief executive of the Post Office from 2012 to 2019, a period of time when sub-postmasters were still being prosecuted, but the organisation continued to deny faults with the Horizon IT software was to blame for shortfalls in accounts.', 'This was despite mounting evidence of wrongful convictions.', 'Ushered into Aldwych House among crowds, cameras and photographers, she began to be questioned and key lines emerged: Former sub-postmistress Jo Hamilton told the BBC that Ms Vennells had been on a ""charm offensive"" and that she didn\'t believe that she had not been aware of Horizon faults earlier than she admitted.', 'Seema Misra, who was eight weeks pregnant with her second child when she was wrongly convicted of false accounting and theft and jailed, told the BBC that Ms Vennells denials of knowledge were part of a ""cover-up"".', 'There was anger too, from some former sub-postmasters.', 'Harjinder Butoy, who was wrongfully convicted of stealing £208,000 and served an 18-month prison term, said he was struggling to to believe ""anything that comes out of her mouth"" and he didn\'t believe her tears were genuine.', 'The inquiry was also shown text messages from January this year which revealed former Royal Mail boss Moya Greene said she believed Ms Vennells knew about Horizon faults earlier than she had admitted.', 'The text message exchange followed the screening of an ITV drama that thrust the scandal back into the spotlight.', 'Dame Greene wrote: ""When it was clear the system was at fault, the [Post Office] should have raised a red flag, stopped all proceedings, given people back their money and then tried to compensate them for the ruin this caused in their lives.""', 'Ms Vennells replied: ""Yes, I agree.', 'This has/is taking too long Moya.', 'The toll on everyone affected is dreadful.', 'I hope you had good break and are well.', 'BW Paula.”', 'Dame Greene then wrote: ""I don’t know what to say.', 'I think you knew.""', 'Ms Vennells then said: ""No Moya, that isn’t the case.""', 'Mr Beer asked Ms Vennells: ""How could you not know?""', 'Ms Vennells said: ""This is a situation that is so complex, it is a question I have asked myself as well. ""', 'I have learned some things that I did not know as a result of the inquiry and I imagine that we will go through some of the detail of that.', 'I wish I had known.""', 'As she apologised to sub-postmasters, campaigners, and to the inquiry itself, people, some of whom were sub-postmasters, remained silent, with a few shaking their heads.', 'She said she was ""very affected"" by the human impact statements given by those affected by the scandal.', 'Ms Vennells also apologised to campaigner Alan Bates, to forensic accountants Second Sight who were sacked by the Post Office after finding bugs in Horizon, and to Lord Arbuthnot, who has also campaigned on the behalf of sub-postmasters.', 'Mr Beer asked the former Post Office boss if she thought she had been the ""unluckiest"" chief executive in the UK given that, according to her witness statements, she wasn\'t given information about Horizon, didn\'t see certain documents, and had been given assurances about the IT system by Post Office staff. ""', 'I was given much information, and as the inquiry has heard, there was information that I wasn\'t given, and others didn\'t receive,"" she said.', 'She added that she had been ""too trusting"" and that she was ""disappointed"" where information hadn\'t been shared.']",-0.165418789617194,I hope you had good break and are well.,"Ms Vennells was chief executive of the Post Office from 2012 to 2019, a period of time when sub-postmasters were still being prosecuted, but the organisation continued to deny faults with the Horizon IT software was to blame for shortfalls in accounts.",-0.8415058936391558,,Some sub-postmasters were sent to prison and many suffered financial hardship.,2024-05-22
+Electricity grids creak as AI demands soar,https://www.bbc.co.uk/news/articles/cj5ll89dy2mo,2024-05-21T01:03:48.722Z,"There’s a big problem with generative AI, says Sasha Luccioni at Hugging Face, a machine-learning company. Generative AI is an energy hog. “Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says. Take the Large Language Models (LLMs) at the heart of many Generative AI systems. They have been trained on vast stores of written information, which helps them to churn out text in response to practically any query. “When you use Generative AI… it’s generating content from scratch, it’s essentially making up answers,” Dr Luccioni explains. That means the computer has to work pretty hard. A Generative AI system might use around 33 times more energy than machines running task-specific software, according to a recent study by Dr Luccioni and colleagues. The work has been peer-reviewed but is yet to be published in a journal. It’s not your personal computer that uses all this energy, though. Or your smartphone. The computations we increasingly rely on happen in giant data centres that are, for most people, out of sight and out of mind. “The cloud,” says Dr Luccioni. “You don’t think about these huge boxes of metal that heat up and use so much energy.” The world’s data centres are using ever more electricity. In 2022, they gobbled up 460 terawatt hours of electricity, and the International Energy Agency (IEA) expects this to double in just four years. Data centres could be using a total of 1,000 terawatts hours annually by 2026. “This demand is roughly equivalent to the electricity consumption of Japan,” says the IEA. Japan has a population of 125 million people. At data centres, huge volumes of information are stored for retrieval anywhere in the world – everything from your emails to Hollywood movies. The computers in those faceless buildings also power AI and cryptocurrency. They underpin life as we know it. But some countries know all too well how energy hungry these facilities are. There is currently a moratorium preventing the construction of new data centres in Dublin. Nearly a fifth of Ireland’s electricity is used up by data centres, and this figure is expected to grow significantly in the next few years – meanwhile Irish households are reducing their consumption. The boss of National Grid said in a speech in March that data centre electricity demand in the UK will rise six-fold in just 10 years, fuelled largely by the rise of AI. National Grid expects that the energy required for electrifying transport and heat will be much larger in total, however. Utilities firms in the US are beginning to feel the pressure, says Chris Seiple at Wood Mackenzie, a consultancy. “They’re getting hit with data centre demands at the exact same time as we have a renaissance taking place – thanks to government policy – in domestic manufacturing,” he explains. Lawmakers in some states are now rethinking tax breaks offered to data centre developers because of the sheer strain these facilities are putting on local energy infrastructure, according to reports in the US. Mr Seiple says there is a “land grab” going on for data centre locations near to power stations or renewable energy hubs: “Iowa is a hotbed of data centre development, there’s a lot of wind generation there.” Some data centres can afford to go to more remote locations these days because latency – the delay, usually measured in milliseconds, between sending information out from a data centre and the user receiving it – is not a major concern for increasingly popular Generative AI systems. In the past, data centres handling emergency communications or financial trading algorithms, for example, have been sited within or very near to large population centres, for the absolute best response times. There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple. Part of that uncertainty is down to the fact that the hardware behind generative AI is evolving all the time. Tony Grayson is general manager at Compass Quantum, a data-centre business, and he points to Nvidia’s recently launched Grace Blackwell supercomputer chips (named after a computer scientist and a mathematician), which are designed specifically to power high-end processes including generative AI, quantum computing and computer-aided drug design. Nvidia says that, in the future, a company could train AIs several times larger than the largest AI systems currently available in 90 days using 8,000 of the previous generation of Nvidia chips. This would need a 15 megawatt electricity supply. But the same work could be carried out in the same time by just 2,000 Grace Blackwell chips, and they would need a four megawatt supply, according to Nvidia. That still ends up as 8.6 gigawatt hours of electricity consumed – roughly the same amount that the entire city of Belfast uses in a week. “The performance is going up so much that your overall energy savings are big,” says Mr Grayson. But he agrees that power demands are shaping where data centre operators site their facilities: “People are going to where cheap power’s at.” Dr Luccioni notes that the energy and resources required to manufacture the latest computer chips are significant. Still, it is true that data centres have got more energy efficient over time, argues Dale Sartor, a consultant and affiliate of Lawrence Berkeley National Laboratory in the US. Their efficiency is often measured in terms of power usage effectiveness, or PUE. The lower the number, the better. State-of-the-art data centres have a PUE of around 1.1, he notes. These facilities do still create significant amounts of waste heat and Europe is ahead of the US in finding ways of using that waste heat – such as warming up swimming pools – says Mr Sartor. Bruce Owen, UK managing director at Equinix, a data centre firm, says, “I still think that the demand is going to grow further than that efficiency gain that we see.” He predicts that more data centres will be built with on-site power-generating facilities included. Equinix was denied planning permission for a gas-powered data centre in Dublin last year. Mr Sartor adds that costs may ultimately determine whether Generative AI is worth it for certain applications: “If the old way is cheaper and easier then there’s not going to be much of a market for the new way.” Dr Luccioni stresses, though, that people will need to clearly understand how the options in front of them differ in terms of energy efficiency. She is working on a project to develop energy ratings for AI. “Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says. ",BBC,21/05/2024,"['There’s a big problem with generative AI, says Sasha Luccioni at Hugging Face, a machine-learning company.', 'Generative AI is an energy hog. “', 'Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says.', 'Take the Large Language Models (LLMs) at the heart of many Generative AI systems.', 'They have been trained on vast stores of written information, which helps them to churn out text in response to practically any query. “', 'When you use Generative AI… it’s generating content from scratch, it’s essentially making up answers,” Dr Luccioni explains.', 'That means the computer has to work pretty hard.', 'A Generative AI system might use around 33 times more energy than machines running task-specific software, according to a recent study by Dr Luccioni and colleagues.', 'The work has been peer-reviewed but is yet to be published in a journal.', 'It’s not your personal computer that uses all this energy, though.', 'Or your smartphone.', 'The computations we increasingly rely on happen in giant data centres that are, for most people, out of sight and out of mind. “', 'The cloud,” says Dr Luccioni. “', 'You don’t think about these huge boxes of metal that heat up and use so much energy.”', 'The world’s data centres are using ever more electricity.', 'In 2022, they gobbled up 460 terawatt hours of electricity, and the International Energy Agency (IEA) expects this to double in just four years.', 'Data centres could be using a total of 1,000 terawatts hours annually by 2026. “', 'This demand is roughly equivalent to the electricity consumption of Japan,” says the IEA.', 'Japan has a population of 125 million people.', 'At data centres, huge volumes of information are stored for retrieval anywhere in the world – everything from your emails to Hollywood movies.', 'The computers in those faceless buildings also power AI and cryptocurrency.', 'They underpin life as we know it.', 'But some countries know all too well how energy hungry these facilities are.', 'There is currently a moratorium preventing the construction of new data centres in Dublin.', 'Nearly a fifth of Ireland’s electricity is used up by data centres, and this figure is expected to grow significantly in the next few years – meanwhile Irish households are reducing their consumption.', 'The boss of National Grid said in a speech in March that data centre electricity demand in the UK will rise six-fold in just 10 years, fuelled largely by the rise of AI.', 'National Grid expects that the energy required for electrifying transport and heat will be much larger in total, however.', 'Utilities firms in the US are beginning to feel the pressure, says Chris Seiple at Wood Mackenzie, a consultancy. “', 'They’re getting hit with data centre demands at the exact same time as we have a renaissance taking place – thanks to government policy – in domestic manufacturing,” he explains.', 'Lawmakers in some states are now rethinking tax breaks offered to data centre developers because of the sheer strain these facilities are putting on local energy infrastructure, according to reports in the US.', 'Mr Seiple says there is a “land grab” going on for data centre locations near to power stations or renewable energy hubs: “Iowa is a hotbed of data centre development, there’s a lot of wind generation there.”', 'Some data centres can afford to go to more remote locations these days because latency – the delay, usually measured in milliseconds, between sending information out from a data centre and the user receiving it – is not a major concern for increasingly popular Generative AI systems.', 'In the past, data centres handling emergency communications or financial trading algorithms, for example, have been sited within or very near to large population centres, for the absolute best response times.', 'There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple.', 'Part of that uncertainty is down to the fact that the hardware behind generative AI is evolving all the time.', 'Tony Grayson is general manager at Compass Quantum, a data-centre business, and he points to Nvidia’s recently launched Grace Blackwell supercomputer chips (named after a computer scientist and a mathematician), which are designed specifically to power high-end processes including generative AI, quantum computing and computer-aided drug design.', 'Nvidia says that, in the future, a company could train AIs several times larger than the largest AI systems currently available in 90 days using 8,000 of the previous generation of Nvidia chips.', 'This would need a 15 megawatt electricity supply.', 'But the same work could be carried out in the same time by just 2,000 Grace Blackwell chips, and they would need a four megawatt supply, according to Nvidia.', 'That still ends up as 8.6 gigawatt hours of electricity consumed – roughly the same amount that the entire city of Belfast uses in a week. “', 'The performance is going up so much that your overall energy savings are big,” says Mr Grayson.', 'But he agrees that power demands are shaping where data centre operators site their facilities: “People are going to where cheap power’s at.”', 'Dr Luccioni notes that the energy and resources required to manufacture the latest computer chips are significant.', 'Still, it is true that data centres have got more energy efficient over time, argues Dale Sartor, a consultant and affiliate of Lawrence Berkeley National Laboratory in the US.', 'Their efficiency is often measured in terms of power usage effectiveness, or PUE.', 'The lower the number, the better.', 'State-of-the-art data centres have a PUE of around 1.1, he notes.', 'These facilities do still create significant amounts of waste heat and Europe is ahead of the US in finding ways of using that waste heat – such as warming up swimming pools – says Mr Sartor.', 'Bruce Owen, UK managing director at Equinix, a data centre firm, says, “I still think that the demand is going to grow further than that efficiency gain that we see.”', 'He predicts that more data centres will be built with on-site power-generating facilities included.', 'Equinix was denied planning permission for a gas-powered data centre in Dublin last year.', 'Mr Sartor adds that costs may ultimately determine whether Generative AI is worth it for certain applications: “If the old way is cheaper and easier then there’s not going to be much of a market for the new way.”', 'Dr Luccioni stresses, though, that people will need to clearly understand how the options in front of them differ in terms of energy efficiency.', 'She is working on a project to develop energy ratings for AI. “', 'Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says.']",0.1682239152310992,"Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says.","There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple.",0.2879800753934042,"The performance is going up so much that your overall energy savings are big,” says Mr Grayson.","Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says.",2024-05-22
+Elon Musk’s Neuralink is seeking a second person to test its brain chip,https://edition.cnn.com/2024/05/17/tech/neuralink-trial-participant-elon-musk-noland-arbaugh/index.html,"
+  Published
+        11:45 AM EDT, Fri May 17, 2024
+    ","Elon Musk’s brain implant startup Neuralink is accepting applications for a second human trial participant to test its device, the billionaire said on X Friday.
+    
+            The request comes five months after Neuralink implanted a brain chip into its first human trial participant, 30-year-old Noland Arbaugh, and just a week after the company admitted that his implant had experienced an unexpected problem. Neuralink said that the threads connecting the chip to Arbaugh’s brain had retracted, causing performance issues, although the company said it made adjustments to improve its function.
+    
+            Still, Arbaugh says the implant — which allows him to control a computer cursor with his brain — has changed his life. Arbaugh has been a quadriplegic since 2016 following a diving accident.
+    
+            “I didn’t have anything to wake up for in the morning, and this has changed that for me,” Arbaugh told Good Morning America in an interview that aired on Friday. “I was just very happy that I would be a part of something that I believe is so monumental. This is the next step forward of helping people with paralysis.”
+    
+            Now, Neuralink is seeking more people like Arbaugh to test out its brain chip. “If you have quadriplegia and want to explore new ways of controlling your computer, we invite you to participate in our clinical trial,” the company said on X.
+    
+            Ultimately, Neuralink’s ambition is to use implants to connect human brains to computers to help, for example, paralyzed people to control smartphones or computers or blind people to regain sight. Like existing brain-machine interfaces, the company’s implant would collect electrical signals sent out by the brain and interpret them as actions.
+    
+            The current trial participants will be part of what Neuralink is calling its PRIME Study, short for Precise Robotically Implanted Brain-Computer Interface. The intent is to study the safety of its implant and surgical robot and to test the functionality of its device, the company said in a 2023 blog post.
+    
+            The company says it is enrolling trial patients who have “limited or no ability to use both hands due to cervical spinal cord injury or amyotrophic lateral sclerosis (ALS).”
+    
+            Trial patients have chips surgically placed in the part of the brain that controls the intention to move. The chip then records and sends brain signals to an app, with the initial goal being “to grant people the ability to control a computer cursor or keyboard using their thoughts alone,” Neuralink previously explained.
+    
+            About a month after the operation, Musk said Arbaugh could control a computer mouse with his brain. Neuralink later posted a video showing Arbaugh using only his brain to play chess on a computer.
+    
+            But after his device developed an unexpected issue stunting its data processing speeds and performance, Arbaugh told Good Morning America that he “cried afterwards.”
+    
+            “It was very, very hard to give up all of the amazing things that I was able to do,” he said.
+    
+            However, Neuralink says the issue was part of its learning process.
+    
+            “The reason we do clinical trials and early feasibility trials is to uncover these sorts of issues as early as possible before they get marketed,” DJ Seo, who co-founded Neuralink with Musk, told Good Morning America. “We rolled up our sleeves and found various different ways for Noland to be able to recover his performance, which we have successfully been able to do.”
+    
+            Consumers will not have widespread access to the technology anytime soon. Before Neuralink’s brain implants hit the broader market, they’ll need broader regulatory approval.
+    
+            –CNN’s Jordan Valinsky contributed to this report.",CNN,17/05/2024,"['Elon Musk’s brain implant startup Neuralink is accepting applications for a second human trial participant to test its device, the billionaire said on X Friday.', 'The request comes five months after Neuralink implanted a brain chip into its first human trial participant, 30-year-old Noland Arbaugh, and just a week after the company admitted that his implant had experienced an unexpected problem.', 'Neuralink said that the threads connecting the chip to Arbaugh’s brain had retracted, causing performance issues, although the company said it made adjustments to improve its function.', 'Still, Arbaugh says the implant — which allows him to control a computer cursor with his brain — has changed his life.', 'Arbaugh has been a quadriplegic since 2016 following a diving accident.', '“I didn’t have anything to wake up for in the morning, and this has changed that for me,” Arbaugh told Good Morning America in an interview that aired on Friday. “', 'I was just very happy that I would be a part of something that I believe is so monumental.', 'This is the next step forward of helping people with paralysis.”', 'Now, Neuralink is seeking more people like Arbaugh to test out its brain chip. “', 'If you have quadriplegia and want to explore new ways of controlling your computer, we invite you to participate in our clinical trial,” the company said on X.  Ultimately, Neuralink’s ambitionis to useimplants to connect human brains to computers to help, for example, paralyzed people to control smartphones or computers or blind people to regain sight.', 'Like existing brain-machine interfaces, the company’s implant would collect electrical signals sent out by the brain and interpret them as actions.', 'The current trial participants will be part of what Neuralink is calling its PRIME Study, short for PreciseRoboticallyImplanted Brain-Computer Interface.', 'The intent is to study the safety of its implant and surgical robot and to test the functionality of its device, the company said in a 2023blog post.', 'The company says it is enrolling trial patients who have “limited or no ability to use both hands due to cervical spinal cord injury or amyotrophic lateral sclerosis (ALS).”', 'Trial patients have chips surgically placed in the part of the brain that controls the intention to move.', 'The chip then records and sends brain signals to an app, with the initial goal being “to grant people the ability to control a computer cursor or keyboard using their thoughts alone,” Neuralink previously explained.', 'About a month after the operation, Musk said Arbaugh could control a computer mouse with his brain.', 'Neuralink later posted a video showing Arbaugh using only his brain to play chess on a computer.', 'But after his device developed an unexpected issue stunting its data processing speeds and performance, Arbaugh told Good Morning America that he “cried afterwards.”', '“It was very, very hard to give up all of the amazing things that I was able to do,” he said.', 'However, Neuralink says the issue was part of its learning process.', '“The reason we do clinical trials and early feasibility trials is to uncover these sorts of issues as early as possible before they get marketed,”DJ Seo, who co-founded Neuralink withMusk, told Good Morning America. “', 'We rolled up our sleeves and found various different ways for Noland to be able to recover his performance, which we have successfully been able to do.”', 'Consumers will not have widespread access to the technology anytime soon.', 'Before Neuralink’s brain implants hit the broader market, they’ll need broader regulatory approval.', '–CNN’s Jordan Valinsky contributed to this report.']",0.192958019884596,I was just very happy that I would be a part of something that I believe is so monumental.,The company says it is enrolling trial patients who have “limited or no ability to use both hands due to cervical spinal cord injury or amyotrophic lateral sclerosis (ALS).”,0.1365916984421866,"We rolled up our sleeves and found various different ways for Noland to be able to recover his performance, which we have successfully been able to do.”","Neuralink said that the threads connecting the chip to Arbaugh’s brain had retracted, causing performance issues, although the company said it made adjustments to improve its function.",2024-05-22
+"Dodge and Ram boss Tim Kuniskis, father of the Hellcat, to retire from Stellantis",https://www.cnbc.com/2024/05/17/dodge-ram-boss-tim-kuniskis-to-retire-from-stellantis.html,2024-05-17T16:57:09+0000,"In this articleDETROIT – Stellantis' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday.Kuniskis, who has led several of the carmaker's brands in North America, is best known for leading Dodge for most of the last decade or so. He is considered the ""father"" of Dodge's high-performance Hellcat models and ""the unofficial spokesman"" for American muscle cars.During his tenure, Dodge reestablished itself as a quintessential American muscle car brand. The brand did so with vehicles such as the more than 700 horsepower Challenger and Charger Hellcat models and controversial Challenger Demon drag race cars.Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team. The appointments are effective June 1, the company said.The changes come as Stellantis carries out a restructuring, including layoffs and cost cutting. It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%. The company was the only major automaker to report a yearly decline, according to Motor intelligence data.""I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands. I wish him well in his retirement,"" Stellantis CEO Carlos Tavares said in a release. ""I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future.""While the company did not invest in all-new products for Dodge, Kuniskis, a salesperson and marketer, was able to grow awareness and sales of the brand's Charger, Challenger and Durango vehicles over the years. Dodge often sparked interest by increasing V-8 engine performance or announcing new ""buzz"" models.Kuniskis has been a member of Stellantis' top executive team since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in January 2021. He also served on the top board for Fiat Chrysler, under late CEO Sergio Marchionne.Kuniskis' departure is the latest in a string of changes to the company since the automaker was established. Recent changes have include a shuffle of Jeep's top executives; North America head Mark Stewart leaving to become CEO of Goodyear Tire and Rubber Co.; and a shakeup late last year of the company's international operations like the South America and Asia-Pacific regions, including China.",CNBC,17/05/2024,"[""In this articleDETROIT – Stellantis' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday."", ""Kuniskis, who has led several of the carmaker's brands in North America, is best known for leading Dodge for most of the last decade or so."", 'He is considered the ""father"" of Dodge\'s high-performance Hellcat models and ""the unofficial spokesman"" for American muscle cars.', 'During his tenure, Dodge reestablished itself as a quintessential American muscle car brand.', 'The brand did so with vehicles such as the more than 700 horsepower Challenger and Charger Hellcat models and controversial Challenger Demon drag race cars.', ""Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team."", 'The appointments are effective June 1, the company said.', 'The changes come as Stellantis carries out a restructuring, including layoffs and cost cutting.', 'It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%.', 'The company was the only major automaker to report a yearly decline, according to Motor intelligence data.', '""I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands.', 'I wish him well in his retirement,"" Stellantis CEO Carlos Tavares said in a release. ""', 'I am confident that Chris will continue the work of Tim in leading the iconic Ram brand.', 'Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future.', '""While the company did not invest in all-new products for Dodge, Kuniskis, a salesperson and marketer, was able to grow awareness and sales of the brand\'s Charger, Challenger and Durango vehicles over the years.', 'Dodge often sparked interest by increasing V-8 engine performance or announcing new ""buzz"" models.', ""Kuniskis has been a member of Stellantis' top executive team since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in January 2021."", 'He also served on the top board for Fiat Chrysler, under late CEO Sergio Marchionne.', ""Kuniskis' departure is the latest in a string of changes to the company since the automaker was established."", ""Recent changes have include a shuffle of Jeep's top executives; North America head Mark Stewart leaving to become CEO of Goodyear Tire and Rubber Co.; and a shakeup late last year of the company's international operations like the South America and Asia-Pacific regions, including China.""]",0.2612220211553282,"""I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands.","It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%.",0.1920280575752258,"""While the company did not invest in all-new products for Dodge, Kuniskis, a salesperson and marketer, was able to grow awareness and sales of the brand's Charger, Challenger and Durango vehicles over the years.","It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%.",2024-05-22
+Court rules Elvis’ Graceland mansion cannot be foreclosed upon – for now,https://edition.cnn.com/2024/05/22/investing/graceland-foreclosure-hearing/index.html,"
+  Updated
+        3:28 PM EDT, Wed May 22, 2024
+    ","Graceland can stay in the hands of Elvis Presley’s family for the time being, after a Tennessee court chancellor ruled Wednesday that a mysterious company trying to sell it likely committed fraud.
+    
+            Chancellor JoeDae Jenkins said that a planned foreclosure sale of Graceland, Elvis Presley’s historic Memphis home, would be postponed at least until a future hearing determines who maintains rightful ownership of the estate. A bizarre series of events set the late singer’s granddaughter against a mysterious company that claimed Elvis’ daughter gave it Graceland’s deed.
+    
+            A hearing in the Shelby County, Tennessee, Chancery Court determined that Thursday’s planned foreclosure auction of Graceland would irreparably harm Elvis’ granddaughter, Danielle Riley Keough, who sued to block the sale. Keough took ownership of the estate and popular tourist attraction after her mother and Elvis’ daughter, Lisa Marie Presley, died in January 2023.
+    
+            “The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Jenkins said.
+    
+            Jenkins also said there was evidence that a company trying to foreclose on Graceland had forged documents that it claimed gave it the right to sell the property. After the hearing, a person who said he represented the company trying to foreclose said it would drop its claim.
+    
+            In a statement, Graceland said the property will continue to operate.
+    
+            “As the court has now made clear, there was no validity to the claims,” the statement read. “There will be no foreclosure.  Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”
+    
+            A company called Naussany Investments & Private Lending LLC had claimed that Lisa Marie Presley failed to pay back a $3.8 million loan it had given her – and Naussany said Presley had put up Graceland as collateral against the loan. Seeking repayment, it had scheduled an auction of the estate.
+    
+            This was no typical foreclosure sale. Keough filed a lawsuit earlier this month, claiming there was no such loan. She also claims Naussany isn’t even a real company.
+    
+            “These documents are fraudulent,” Keough’s lawsuit alleges. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
+    
+            The lawsuit alleges Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of defrauding.”
+    
+            Although Naussany provided what appears to be a 2018 notarized promissory note signed by Lisa Marie Presley to put up Graceland as collateral, Keough’s lawsuit said that was a forgery. In a signed affidavit, the notary public denied ever notarizing anything that Lisa Marie Presley had signed.
+    
+            Chancellor Jenkins said that affidavit was sufficient evidence to delay the foreclosure until a hearing can determine the facts. But Jenkins also said the evidence suggested Keough was telling the truth.
+    
+            “It appears you’ll be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary,” Jenkins said Wednesday.
+    
+            Naussany said it is not going to proceed with its claim and “will be withdrawing all claims with prejudice,” according to a statement released today by a person identified as a representative of Naussany Investments & Private Lending LLC, the company accused of trying to fraudulently foreclose on the historic property.
+    
+            “Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and Naussany Investments & Private Lending will not acquire to proceed,” the company said.. “That comes from consultation of the lawyers for the company. There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”
+    
+            Elvis Presley Enterprises, the company that manages Presley’s estate, concurred that Naussany’s claim was illegitimate.
+    
+            “Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud.”
+    
+            A judge last week granted a temporary restraining order, preventing Naussany from selling Graceland. Jenkins extended that order Wednesday.
+    
+            Following Lisa Marie Presley’s death, Keogh and her grandmother, Priscilla Presley, fought over the rights to her estate – including Graceland. Ultimately, Keough and Presley settled, and Keough became Graceland’s sole owner.
+    
+            In 2004, Lisa Marie Presley sold 85% of Elvis Presley Enterprises’ assets in a deal reportedly worth more than $100 million. But she maintained complete ownership of the Graceland mansion and Elvis’ personal items housed in what is now the Graceland museum, according to the Graceland website.
+    
+            Graceland is one of the South’s biggest tourist draws, visited by hundreds of thousands of people each year, Graceland says on its website. Lisa Marie Presley annually earned seven figures from it, based on a court filing in her 2022 divorce.
+    
+            Keough was born to parents Lisa Marie Presley and musician Danny Keough in 1989. She is a well-known actor, appearing in “Mad Max Fury Road” and other Hollywood hits. She also appears in Hulu’s “Under the Bridge.”
+    
+            First credited as an actor in the movie the Runaways in 2010, Keough has racked up a number of acting roles. She recently starred in “Daisy Jones & The Six,” where she played a troubled musician in a band about to make it big.
+    
+            In a piece for Vanity Fair, Keough revealed she has a daughter, Tupelo Storm Smith-Petersen, who was born via surrogate in August 2022. Elvis was born in Tupelo, Mississippi, in 1935, but Keough said the name is a tribute to her late brother, Benjamin Storm Keough, who died in 2020 at the age of 27.",CNN,22/05/2024,"['Graceland can stay in the hands of Elvis Presley’s family for the time being, after a Tennessee court chancellor ruled Wednesday that a mysterious company trying to sell it likely committed fraud.', 'Chancellor JoeDae Jenkins said that a planned foreclosure sale of Graceland, Elvis Presley’s historic Memphis home, would be postponed at least until a future hearing determines who maintains rightful ownership of the estate.', 'A bizarre series of events set the late singer’s granddaughter against a mysterious company that claimed Elvis’ daughter gave it Graceland’s deed.', 'A hearing in the Shelby County, Tennessee, Chancery Court determined that Thursday’s planned foreclosure auction of Graceland would irreparably harm Elvis’ granddaughter, Danielle Riley Keough, who sued to block the sale.', 'Keough took ownership of the estate and popular tourist attraction after her mother and Elvis’ daughter, Lisa Marie Presley, died in January 2023.', '“The estate is considered unique under Tennessee law, and in being unique the loss of the real estate will be considered irreparable harm,” Jenkins said.', 'Jenkins also said there was evidence that a company trying to foreclose on Graceland had forged documents that it claimed gave it the right to sell the property.', 'After the hearing, a person who said he represented the company trying to foreclose said it would drop its claim.', 'In a statement, Graceland said the property will continue to operate.', '“As the court has now made clear, there was no validity to the claims,” the statement read. “', 'There will be no foreclosure.', 'Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”', 'A company called Naussany Investments & Private Lending LLC had claimed that Lisa Marie Presley failed to pay back a $3.8 million loan it had given her – and Naussany said Presley had put up Graceland as collateral against the loan.', 'Seeking repayment, it had scheduled an auction of the estate.', 'This was no typical foreclosure sale.', 'Keough filed a lawsuit earlier this month, claiming there was no such loan.', 'She also claimsNaussany isn’t even a real company.', '“These documents are fraudulent,” Keough’s lawsuit alleges. “', 'Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”', 'The lawsuit alleges Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of defrauding.”', 'Although Naussany provided what appears to be a 2018 notarized promissory note signed by Lisa Marie Presley to put up Graceland as collateral, Keough’s lawsuit said that was a forgery.', 'In a signed affidavit, the notary public denied ever notarizing anything that Lisa Marie Presley had signed.', 'Chancellor Jenkins said that affidavit was sufficient evidence to delay the foreclosure until a hearing can determine the facts.', 'But Jenkins also said the evidence suggested Keough was telling the truth.', '“It appears you’ll be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary,” Jenkins said Wednesday.', 'Naussany said it is not going to proceed with its claim and “will be withdrawing all claims with prejudice,” according to a statement releasedtodayby a personidentified as a representative ofNaussany Investments & Private Lending LLC, the company accused of trying to fraudulently foreclose on the historic property.', '“Due to the Deed of Trust not being recorded and the loan being obtained in different state, legal action would have to be filed in multiple states and Naussany Investments & Private Lending will not acquire to proceed,” the company said.. “That comes from consultation of the lawyers for the company.', 'There was no harm meant on Ms. Keough for her mothers LMP mis habits and mis managing of money.”', 'Elvis Presley Enterprises, the company that manages Presley’s estate, concurred that Naussany’s claim was illegitimate.', '“Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “', 'There is no foreclosure sale.', 'Simply put, the counter lawsuit has been filed is to stop the fraud.”', 'A judge last week granted a temporary restraining order, preventing Naussany from selling Graceland.', 'Jenkins extended that order Wednesday.', 'Following Lisa Marie Presley’s death, Keogh and her grandmother, Priscilla Presley, fought over the rights to her estate – including Graceland.', 'Ultimately, Keough and Presley settled, and Keough became Graceland’s sole owner.', 'In 2004, Lisa Marie Presley sold 85% of Elvis Presley Enterprises’ assets in adeal reportedly worth more than $100 million.', 'But she maintained complete ownership of theGraceland mansion and Elvis’ personal items housed in what is now the Graceland museum, according to the Graceland website.', 'Graceland is one of the South’s biggest tourist draws, visited by hundreds of thousands of people each year, Graceland says on its website.', 'Lisa Marie Presley annually earned seven figures from it, based on a court filing in her 2022 divorce.', 'Keough was born to parents Lisa Marie Presley and musician Danny Keough in 1989.', 'She is a well-known actor, appearing in “Mad Max Fury Road” and other Hollywood hits.', 'She also appears in Hulu’s “Under the Bridge.”', 'First credited as an actor in the movie the Runaways in 2010, Keough has racked up a number of acting roles.', 'She recently starred in “Daisy Jones & The Six,” where she played a troubled musician in a band about to make it big.', 'In a piece for Vanity Fair, Keough revealed she has a daughter, Tupelo Storm Smith-Petersen, who was born via surrogate in August 2022.', 'Elvis was born in Tupelo, Mississippi, in 1935, but Keough said the name is a tribute to her late brother, Benjamin Storm Keough, who died in 2020 at the age of 27.']",-0.151347125530013,"Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best in class experience when visiting his iconic home.”","Simply put, the counter lawsuit has been filed is to stop the fraud.”",-0.0540535052617391,"“It appears you’ll be successful on the merits … provided you prove at the ultimate hearing fraud alleged by your client and the notary,” Jenkins said Wednesday.",A company called Naussany Investments & Private Lending LLC had claimed that Lisa Marie Presley failed to pay back a $3.8 million loan it had given her – and Naussany said Presley had put up Graceland as collateral against the loan.,2024-05-22
+Citi just got the bill for its $189 billion trading mess-up,https://edition.cnn.com/2024/05/22/investing/citigroup-fine-stock-dump-fat-finger/index.html,"
+  Updated
+        7:14 AM EDT, Wed May 22, 2024
+    ","UK regulators slapped a combined £62 million ($79 million) fine on Citigroup Wednesday for failures in its trading systems that almost resulted in stocks worth $189 billion being dumped onto European markets.
+    
+            The Financial Conduct Authority (FCA) imposed a fine of nearly £28 million ($36 million) on Citigroup (C), while the Bank of England’s Prudential Regulation Authority fined it almost £34 million ($43 million) following investigations into the US bank, according to statements from the authorities.
+    
+            The regulators reduced their fines by 30% because Citigroup agreed to settle the matter. Without that discount, the combined fine would have topped £88 million ($112 million).
+    
+            “We are pleased to resolve this matter from more than two years ago, which arose from an individual error that was identified and corrected within minutes,” a Citigroup spokesperson told CNN. “We immediately took steps to strengthen our systems and controls, and remain committed to ensuring full regulatory compliance.”
+    
+            The spokesperson declined to comment on reports that the trade was the result of a fat-finger error, where incorrect data is inputted because the wrong key is pressed. 
+    
+            The Bank of England highlighted an incident in May 2022 when one of Citigroup’s “experienced” traders sold $1.4 billion worth of stocks on European exchanges in error, triggering what brokers described at the time as a “flash crash.”
+    
+            In its statement, the FCA said the unnamed trader had intended to sell stocks worth only $58 million, but made an “inputting error,” which resulted in an order to sell $444 billion.
+    
+            Citigroup’s systems blocked $255 billion of that, meaning that $189 billion was sent to its trading platform for sale “over the rest of the day.” In total, $1.4 billion worth of stocks was sold before the trader canceled the transaction.
+    
+            “There was no hard block that would have rejected this large erroneous basket of equities in its entirety and prevented any of it reaching the market,” the FCA said, adding that the failings risked creating “a disorderly market.”
+    
+            The FCA also highlighted the ability of the trader to manually override a pop-up alert, without being required to read all the details it contained, and the bank’s “ineffective” real-time monitoring, which meant alerts were escalated too slowly.
+    
+            Following the incident, Citigroup has taken steps to “improve and strengthen” the security of its trading systems, the central bank said.
+    
+            “Firms involved in trading must have effective controls in place in order to manage the risks involved. (Citigroup) failed to meet the standards we expect in this area, resulting in today’s fine,” said Sam Woods, chief executive officer of the Prudential Regulation Authority.
+    
+            It is not the first time Citigroup has blundered.
+    
+            In 2020, the bank accidentally wired $900 million in interest payments to the lenders of cosmetics company Revlon — more than 100 times the intended amount. Some lenders returned the money, but others did not. A US district court judge ruled in 2021 that the bank would not be allowed to recover the outstanding $500 million.
+    
+            Another trading mishap in 2014 — unconnected to Citigroup — rattled the Japanese stock market. An anonymous broker made and then swiftly canceled orders for more than $600 billion worth of stocks, the BBC reported at the time.
+    
+            This article has been updated with additional information.",CNN,22/05/2024,"['UK regulators slapped a combined £62 million ($79 million) fine on Citigroup Wednesday for failures in its trading systems that almost resulted in stocks worth $189 billion being dumped onto European markets.', 'The Financial Conduct Authority (FCA) imposed a fine of nearly £28 million ($36 million) on Citigroup (C), while the Bank of England’s Prudential Regulation Authority fined it almost £34 million ($43 million) following investigations into the US bank, according to statements from the authorities.', 'The regulators reduced their fines by 30% because Citigroup agreed to settle the matter.', 'Without that discount, the combined fine would have topped £88 million ($112 million).', '“We are pleased to resolve this matter from more than two years ago, which arose from an individual error that was identified and corrected within minutes,” a Citigroup spokesperson told CNN. “', 'We immediately took steps to strengthen our systems and controls, and remain committed to ensuring full regulatory compliance.”', 'The spokesperson declined to comment on reports that the trade was the result of a fat-finger error, where incorrect data is inputted because the wrong key is pressed.', 'The Bank of England highlighted an incident in May 2022 when one of Citigroup’s “experienced” traders sold $1.4 billion worth of stocks on European exchanges in error, triggering what brokers described at the time as a “flash crash.”', 'In its statement, the FCA said the unnamed trader had intended to sell stocks worth only $58 million, but made an “inputting error,” which resulted in an order to sell $444 billion.', 'Citigroup’s systems blocked $255 billion of that, meaning that $189 billion was sent to its trading platform for sale “over the rest of the day.”', 'In total, $1.4 billion worth of stocks was sold before the trader canceled the transaction.', '“There was nohard blockthat would haverejectedthislargeerroneousbasket of equitiesinitsentiretyand preventedany of itreaching the market,” the FCA said, adding that the failings risked creating “a disorderly market.”', 'The FCA also highlighted the ability of the trader to manually override a pop-up alert, without being required to read all the details it contained, and the bank’s “ineffective” real-time monitoring,whichmeant alerts were escalated too slowly.', 'Following the incident, Citigroup has taken steps to “improve and strengthen” the security of its trading systems, the central bank said.', '“Firms involved in trading must have effective controls in place in order to manage the risks involved. (', 'Citigroup) failed to meet the standards we expect in this area, resulting in today’s fine,” said Sam Woods, chief executive officer of the Prudential Regulation Authority.', 'It is not the first time Citigroup has blundered.', 'In 2020, the bank accidentally wired $900 million in interest payments to the lenders of cosmetics company Revlon —more than 100 times the intended amount.', 'Some lenders returned the money, but others did not.', 'A US district court judge ruled in 2021 that the bank would not be allowed to recover the outstanding $500 million.', 'Another trading mishap in 2014 —unconnected to Citigroup — rattled the Japanese stock market.', 'An anonymous broker made and then swiftly canceled orders for more than $600 billion worth of stocks, the BBC reported at the time.', 'This article has been updated with additional information.']",0.0711684251590327,"Following the incident, Citigroup has taken steps to “improve and strengthen” the security of its trading systems, the central bank said.","The spokesperson declined to comment on reports that the trade was the result of a fat-finger error, where incorrect data is inputted because the wrong key is pressed.",-0.3452312579521766,The regulators reduced their fines by 30% because Citigroup agreed to settle the matter.,"Citigroup) failed to meet the standards we expect in this area, resulting in today’s fine,” said Sam Woods, chief executive officer of the Prudential Regulation Authority.",2024-05-22
+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.,2024-05-22
+"Dow closes above 40,000 for first time ever",https://edition.cnn.com/2024/05/17/markets/dow-closes-above-40-000/index.html,"
+  Updated
+        4:30 PM EDT, Fri May 17, 2024
+    ","The Dow Jones Industrial Average closed above the 40,000 mark Friday for the first time in its 139-year history.
+    
+            The blue-chip index initially crossed the key threshold early Thursday but ended that day lower.
+    
+            Wall Street has been boosted in recent days by renewed hopes of rate cuts from the Federal Reserve that would loosen monetary conditions for consumers and businesses.
+    
+            A report this week from the Bureau of Labor Statistics indicated that inflation has started to ease, potentially paving the way for the central bank to start implementing the rate cut that investors have been expecting since the start of the year.
+    
+            “40,000 is a great milestone, but end of the day there isn’t much difference between 39,999 and 40k,” said Ryan Detrick, chief market strategist at Carson Group, in a note Friday. “Still, this is a great reminder of how far we’ve come. Think about how many people were talking about recessions and bear markets all of last year. Now we are once again back to new highs.”
+    
+            “Investors who were patient and ignored all the scary headlines were once again rewarded, just as they have been throughout history,” he wrote.
+    
+            All major indexes closed the week higher, but markets were mixed on Friday. The Dow rose 134 points, or 0.3%, to close at a record high of 40,003.59. This is the Dow’s fifth consecutive winning week.
+    
+            The S&P 500 gained 0.1% and the Nasdaq Composite closed 0.1% lower.
+    
+            Crossing the 40,000 level doesn’t hold much practical value for investors, but it does catch the attention of the public and, some argue, it could help propel that optimistic sentiment beyond Wall Street.
+    
+            “The Dow 40,000 milestone also shows how resilient the US economy has been, at a time where there was a plethora of calls for a recession,” said Art Hogan, chief market strategist at B. Riley Financial, in a recent note to CNN.
+    
+            “The overarching importance of crossing these big round numbers is that it brings Wall Street news to Main Street, at least for a day. It also serves as an affirmation that corporate earnings are growing, and that investor confidence remains robust,” he said.
+    
+            To many Americans, “the Dow” simply means the stock market. The index’s small cache of stocks — ranging from Microsoft to McDonald’s to Chevron — represents some of the largest companies in the nation and are widely held among retail and institutional investors alike.
+    
+            Here are some important stops along the Dow’s road to 40,000:
+    
+            Dow is formed: The first daily close, on May 26, 1896, was 40.94. The Dow did not get off to a good start, plunging 30% to an all-time low of 28.48 by August that year.
+    
+            Dow 100: The Dow first closed in triple digits in January 1906. That marked an impressive rally for the average, which had hit an all-time low when Teddy Roosevelt was president. The Federal Reserve would not be created for seven more years.
+    
+            Crash of 1929: The Dow fell 38 points on Oct. 28 and 31 more points the next day. That might not sound bad today, but it represented back-to-back declines of 13% and 12% of the Dow’s value. They are still two of the worst one-day percentage declines in the index’s history.
+    
+            Dow 1,000: Nov. 14, 1972. Richard Nixon had just won reelection by taking 49 states. The Dow’s components, which had been unchanged for 13 years, included Woolworth, Eastman Kodak and International Nickel.
+    
+            Crash of 1987: On Oct. 19, the Dow plunged 508 points, a 23% drop that is still the largest one-day percentage decline in history. A week later it took an 8% plunge. But the damage was short-lived: Within a year, the Dow was back to pre-crash levels.
+    
+            Dow 10,000: March 29, 1999. The “irrational exuberance” of the tech bubble was in full swing as the Dow gained 1,000 points in less than a year to hit this benchmark. It gained 1,000 more points in just the next month.
+    
+            A year later, the dot-com stock bubble burst, sending the Dow down nearly 30% by September 2001.
+    
+            Meltdown of 2008-2009: The financial crisis caused the Dow to lose about half its value in less than a year, bottoming out to close at 6,547 on March 9, 2009. The worst day was Sept. 29, 2008, when the Dow lost what was then a record 778 points after Congress rejected a $700 billion bank bailout. The bailout was later approved.
+    
+            Dow 15,000: May 7, 2013. As the economy continued to recover from the Great Recession, the Dow had one of the current bull market’s strongest periods. It crossed the 15,000 mark and finished the year up 26.5%, marking the best full-year performance of the current bull market. The Dow nearly matched that in 2017, rising 25%.
+    
+            Dow 20,000: January 25, 2017. The stock market had enjoyed a nice run starting on the day after the 2016 election, with the Dow gaining nearly 10% as investors looked forward to lower taxes and less regulation under the Trump administration.
+    
+            Dow 25,000: Jan. 4, 2018. The passage of the Trump tax cuts, especially the lowering of the corporate tax rate in December 2017, helped feed the quick move between 20,000 and 25,000.
+    
+            Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020. But new hopes of a vaccine and the results of the presidential election ended an era of uncertainty on Wall Street, sending the stock market rolling once again.",CNN,17/05/2024,"['The Dow Jones Industrial Average closed above the 40,000 mark Friday for the first time in its 139-year history.', 'The blue-chip index initially crossed the key threshold early Thursday but ended that day lower.', 'Wall Street has been boosted in recent days by renewed hopes of rate cuts from the Federal Reserve that would loosen monetary conditions for consumers and businesses.', 'A report this week from the Bureau of Labor Statistics indicated that inflation has started to ease, potentially paving the way for the central bank to start implementing the rate cut that investors have been expecting since the start of the year.', '“40,000is a great milestone, but end of the day there isn’t much difference between 39,999 and 40k,” said Ryan Detrick, chief market strategist at Carson Group, in a note Friday. “', 'Still, this is a great reminder of how far we’ve come.', 'Think about how many people were talking about recessions and bear markets all of last year.', 'Now we are once again back to new highs.”', '“Investors who were patient and ignored all the scary headlines were once again rewarded, just as they have been throughout history,” he wrote.', 'All major indexes closed the week higher, but markets were mixed on Friday.', 'The Dow rose 134 points, or 0.3%, to close at a record high of 40,003.59.', 'This is the Dow’s fifth consecutive winning week.', 'The S&P 500 gained 0.1% and the Nasdaq Composite closed 0.1% lower.', 'Crossing the 40,000 leveldoesn’t hold much practical value for investors,but it does catch the attention of the public and, some argue, it could help propel that optimistic sentiment beyond Wall Street.', '“The Dow 40,000 milestone also shows how resilient the US economy has been, at a time where there was a plethora of calls for a recession,” said Art Hogan, chief market strategist at B. Riley Financial, in a recent note to CNN.', '“The overarching importance of crossing these big round numbers is that it brings Wall Street news to Main Street, at least for a day.', 'It also serves as an affirmation that corporate earnings are growing, and that investor confidence remains robust,” he said.', 'To many Americans, “the Dow” simply means the stock market.', 'The index’s small cache of stocks — ranging from Microsoft to McDonald’s to Chevron — represents some of the largest companies in the nation and are widely held among retail and institutional investors alike.', 'Here are some important stops along the Dow’s road to 40,000:  Dow is formed:The first daily close, on May 26, 1896, was 40.94.', 'The Dow did not get off to a good start, plunging 30% to an all-time low of 28.48 by August that year.', 'Dow 100:The Dow first closed in triple digits in January 1906.', 'That marked an impressive rally for the average, which had hit an all-time low when Teddy Roosevelt was president.', 'The Federal Reserve would not be created for seven more years.', 'Crash of 1929:The Dow fell 38 points on Oct. 28 and 31 more points the next day.', 'That might not sound bad today, but it represented back-to-back declines of 13% and 12% of the Dow’s value.', 'They are still two of the worst one-day percentage declines in the index’s history.', 'Dow 1,000:Nov. 14, 1972.', 'Richard Nixon had just won reelection by taking 49 states.', 'The Dow’s components, which had been unchanged for 13 years, included Woolworth, Eastman Kodak and International Nickel.', 'Crash of 1987:On Oct. 19, the Dow plunged 508 points, a 23% drop that is still the largest one-day percentage decline in history.', 'A week later it took an 8% plunge.', 'But the damage was short-lived: Within a year, the Dow was back to pre-crash levels.', 'Dow 10,000:March 29, 1999.', 'The “irrational exuberance” of the tech bubble was in full swing as the Dow gained 1,000 points in less than a year to hit this benchmark.', 'It gained 1,000 more points in just the next month.', 'A year later, the dot-com stock bubble burst, sending the Dow down nearly 30% by September 2001.', 'Meltdown of 2008-2009:The financial crisis caused the Dow to lose about half its value in less than a year, bottoming out to close at 6,547 on March 9, 2009.', 'The worst day was Sept. 29, 2008, when the Dow lost what was then a record 778 points after Congress rejected a $700 billion bank bailout.', 'The bailout was later approved.', 'Dow 15,000:May 7, 2013.', 'As the economy continued to recover from the Great Recession, the Dow had one of the current bull market’s strongest periods.', 'It crossed the 15,000 mark and finished the year up 26.5%, marking the best full-year performance of the current bull market.', 'The Dow nearly matched that in 2017, rising 25%.', 'Dow 20,000:January 25, 2017.', 'The stock market had enjoyed a nice run starting on the day after the 2016 election, with the Dow gaining nearly 10% as investors looked forward to lower taxes and less regulation under the Trump administration.', 'Dow 25,000:Jan. 4, 2018.', 'The passage of the Trump tax cuts, especially the lowering of the corporate tax rate in December 2017, helped feed the quick move between 20,000 and 25,000.', 'Dow 30,000:Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.', 'But new hopes of a vaccine and the results of the presidential election ended an era of uncertainty on Wall Street, sending the stock market rolling once again.']",0.0555875297815642,"The stock market had enjoyed a nice run starting on the day after the 2016 election, with the Dow gaining nearly 10% as investors looked forward to lower taxes and less regulation under the Trump administration.","The worst day was Sept. 29, 2008, when the Dow lost what was then a record 778 points after Congress rejected a $700 billion bank bailout.",0.2731890783590429,"The stock market had enjoyed a nice run starting on the day after the 2016 election, with the Dow gaining nearly 10% as investors looked forward to lower taxes and less regulation under the Trump administration.","The Dow did not get off to a good start, plunging 30% to an all-time low of 28.48 by August that year.",2024-05-22
+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.",2024-05-22
+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?,2024-05-22
+Federal regulators are investigating fatal crash of VinFast EV,https://edition.cnn.com/2024/05/21/cars/vinfast-regulators-investigating-fatal-crash-ev/index.html,"
+  Updated
+        2:09 PM EDT, Tue May 21, 2024
+    ","Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about.
+    
+            The VinFast VF8, made by the Vietnamese automaker founded in 2017, veered off the road and crashed into a pole and then a tree before catching fire, according to a complaint posted on the National Highway Traffic Safety Administration’s web site. Someone claiming to be the vehicle’s owner filed the complaint.
+    
+            The SUV was being driven by one of the owner’s coworkers with the coworker’s family when the fatal crash occurred, according to the complaint. The occupants killed included two children in the back seat.
+    
+            The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash.
+    
+            Earlier, while the owner was driving, the same vehicle had unexpectedly steered to the right, according to the complaint, in at least two instances. In at least one of those cases, the SUV’s automatic driving assistance features, designed to automatically help the vehicle steer within its own lane, were turned on “by default.” The driver was able to regain control, bringing the vehicle back into the proper lane, according to the complaint.
+    
+            “The contact was concerned that the failure recurred while the coworker was driving,” the complaint said.
+    
+            It’s not clear if the vehicle’s Advanced Driving Assistance features were involved in the fatal crash. NHTSA has been investigating numerous incidents involving vehicles from a number of automakers, including Tesla and Ford, in which ADAS systems were in use at the time. Media reports, citing local police, have said that speed was a factor in the crash.
+    
+            NHTSA’s Special Crash Investigations unit, which investigates incidents deemed to be of particular interest due to unusual circumstances or new technologies involved, will “document the crash circumstances and the ensuing fire,” according a statement from the agency.
+    
+            “VinFast and NHTSA are working cooperatively to determine the causes of the tragic crash in Pleasanton. NHTSA is not investigating VinFast,” VinFast said in a statement provided to CNN. “The Pleasanton police are currently investigating the cause of the accident and will share their findings when their work is completed.”",CNN,21/05/2024,"['Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about.', 'The VinFast VF8, made by the Vietnamese automaker founded in 2017, veered off the road and crashed into a pole and then a tree before catching fire, according to a complaint posted on the National Highway Traffic Safety Administration’s web site.', 'Someone claiming to be the vehicle’s owner filed the complaint.', 'The SUV was being driven by one of the owner’s coworkers with the coworker’s family when the fatal crash occurred, according to the complaint.', 'The occupants killed included two children in the back seat.', 'The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash.', 'Earlier, while the owner was driving, the same vehicle had unexpectedly steered to the right, according to the complaint, in at least two instances.', 'In at least one of those cases, the SUV’s automatic driving assistance features, designed to automatically help the vehicle steer within its own lane, were turned on “by default.”', 'The driver was able to regain control, bringing the vehicle back into the proper lane, according to the complaint.', '“The contact was concerned that the failure recurred while the coworker was driving,” the complaint said.', 'It’s not clear if the vehicle’s Advanced Driving Assistance features were involved in the fatal crash.', 'NHTSA has been investigating numerous incidents involving vehicles from a number of automakers, including Tesla and Ford, in which ADAS systems were in use at the time.', 'Media reports, citing local police, have said that speed was a factor in the crash.', 'NHTSA’s Special Crash Investigations unit, which investigates incidents deemed to be of particular interest due to unusual circumstances or new technologies involved, will “document the crash circumstances and the ensuing fire,” according a statement from the agency.', '“VinFast and NHTSA are working cooperatively to determine the causes of the tragic crash in Pleasanton.', 'NHTSA is not investigating VinFast,” VinFast said in a statement provided to CNN. “', 'The Pleasanton police are currently investigating the cause of the accident and will share their findings when their work is completed.”']",-0.396597053621507,"In at least one of those cases, the SUV’s automatic driving assistance features, designed to automatically help the vehicle steer within its own lane, were turned on “by default.”","Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about.",-0.2596213221549988,"The driver was able to regain control, bringing the vehicle back into the proper lane, according to the complaint.","The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash.",2024-05-22
+"Bilt’s May Rent Day promotion: Redeem points toward rent, get free home decor",https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion,"
+  Updated
+        4:22 PM EDT, Thu April 25, 2024
+    ","The Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception in 2021. With a top-notch travel rewards program and the opportunity to earn points on rent with 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.
+    
+            In addition, Bilt Rewards — the loyalty program behind the Bilt Mastercard — offers lucrative 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 — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month. Bilt typically announces these promotions just a few days before Rent Day.
+    
+            Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.
+    
+            Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.
+    
+            Additionally, Bilt recently announced a new partnership with Blade, a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.
+    
+            Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.
+    
+            Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection. You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.
+    
+            However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment. For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.
+    
+            Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison. However, it might be worth considering this month if you’re looking for new home decor anyway.
+    
+            The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.
+    
+            This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country. This includes unique tasting menus, wine pairings and omakase experiences.
+    
+            These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest. Availability will be limited, but you can try to grab a seat on April 26.
+    
+            Those with Bilt elite status will receive priority access to reservations. Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST. All other Bilt Rewards members can book at 12:30 p.m. EST.
+    
+            Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.
+    
+            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 May 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 with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).
+    
+            Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking. Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.
+    
+            Again, you’ll get more Blade benefits if you have Bilt elite status.
+    
+            These are nice benefits to have if you live in New York. Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.
+    
+            If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home. If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.
+    
+            Learn more and apply now for the Bilt Mastercard.
+    
+            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,25/04/2024,"['The Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception in 2021.', 'With a top-notch travel rewards program and the opportunity to earn points on rent with 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.', 'In addition, Bilt Rewards —the loyalty program behind the Bilt Mastercard — offers lucrative 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 — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month.', 'Bilt typically announces these promotions just a few days before Rent Day.', 'Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.', 'Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.', 'Additionally, Bilt recently announced a new partnership with Blade,a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.', 'Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.', 'Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection.', 'You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.', 'However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment.', 'For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.', 'Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.', 'However, it might be worth considering this month if you’re looking for new home decor anyway.', 'The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.', 'This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country.', 'This includes unique tasting menus, wine pairings and omakase experiences.', 'These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest.', 'Availability will be limited, but you can try to grab a seat on April 26.', 'Those with Bilt elite status will receive priority access to reservations.', 'Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST.', 'All other Bilt Rewards members can book at 12:30 p.m. EST.', 'Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.  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 May 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 with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).', 'Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking.', 'Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.', 'Again, you’ll get more Blade benefits if you have Bilt elite status.', 'These are nice benefits to have if you live in New York.', 'Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.', 'If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home.', 'If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.', 'Learn more and apply now for the Bilt Mastercard.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.3487739443917381,"Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.",,0.978265517950058,"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.",,2024-05-22
+Privacy experts sound the alarm over Microsoft’s latest AI tool,https://edition.cnn.com/2024/05/22/tech/microsoft-ai-tool-privacy-recall/index.html,"
+  Published
+        3:07 PM EDT, Wed May 22, 2024
+    ","Microsoft’s buzziest new AI feature is raising concerns that it could potentially be misused in the wrong hands.
+    
+            This week, the company showed off a new tool called Recall for Windows computers that acts as a personal “time machine,” allowing users to quickly pull up anything that’s ever been on screen, such as documents, images and websites. It’s different from a keyword search; the tool regularly saves screenshots of the user’s screen and stores them directly on the device. It then uses AI to process the data and make it searchable.
+    
+            For example, if someone previously searched for a green dress or the name of a local ice cream shop, they can ask the feature to “recall” anything in their history that was shown on screen.
+    
+            Although so-called semantic search is a big step forward for AI, it comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.
+    
+            Jen Golbeck – a professor of AI at the University of Maryland who focuses on privacy – said the recall feature could pose a potential “nightmare” if the device falls into the wrong hands.
+    
+            “Stuff may stay on your device, but that doesn’t mean people can’t get to it,” she said. “You won’t have an option to protect yourself even if you use incognito mode or clear your history because the tool has access to everything that’s been on your screen.”
+    
+            The UK’s independent regulator for Data Protection and Freedom of Information, the Information Commissioner’s Office (ICO), told CNN it is investigating the tool “to understand the safeguards in place to protect user privacy.”
+    
+            “We expect organisations to be transparent with users about how their data is being used and only process personal data to the extent that it is necessary to achieve a specific purpose,” the ICO said in a statement.
+    
+            Microsoft did not immediately respond to a request for comment. CEO Satya Nadella told The Wall Street Journal in an interview ahead of Monday’s launch that web searches must only be done on Microsoft’s Edge web browser and that the screenshots never leave the user’s computer.
+    
+            “You have to put two things together: This is my computer and this is my Recall – and it’s all being done locally,” he said.
+    
+            Geoff Blaber, CEO of market research firm CCS Insight, said that makes the issue less concerning.
+    
+            “The backlash by some to this feature isn’t surprising, but it’s an overreaction given that the data stays exclusively on the device and the user has full control,” Blaber said.
+    
+            Someone can decide whether to turn the feature on during the device setup process and can customize and blacklist which apps and websites Recall can access.
+    
+            “These controls suggest the feature has been built with security and privacy at its core,” he said. “Recall won’t appeal to everyone but the utility provided is likely to be significant.”
+    
+            But Golbeck cited times when that protection might not be enough, such as a journalist in a hostile country, a person trying to get out of an abusive relationship, someone searching for sensitive medical information or an employee whose boss wants to track them. She believes issues around the tool will likely impact the workplace the most.
+    
+            “We know jobs monitor what we’re doing on their devices, but a lot of people will do a personal thing on their work computer and all of that will be archived and visible to an IT department, even if it just stays on device,” she added.
+    
+            Golbeck said technology, despite the benefits, is too often developed without the consideration of malicious uses.
+    
+            “What we’ve seen over the last 15 years is every single one of those potential malicious use cases comes to fruition in some way or another,” she said. “People will want to use this cool feature without understanding the privacy risk – that there will be a permanent record of everything you do.”
+    
+            Similar reactions to features such as biometric passwords, such as fingerprints, facial recognition and iris scans, have emerged in the past. Blaber said to overcome some of the initial concerns, Microsoft and its partners will need to prove the value, security and privacy of the product in the real world.
+    
+            Still, Michela Menting, a senior research director at ABI Research, believes the feature is a “step backwards” for privacy.
+    
+            “The argument that hackers need physical access to even be able to manipulate Recall is short-sighted at best because there are plenty of highly ingenious ways threat actors could exploit such a valuable tool,” she said. “All it takes is time and effort to find a way.”",CNN,22/05/2024,"['Microsoft’s buzziest new AI feature is raising concerns that it could potentially be misused in the wrong hands.', 'This week, the company showed off a new tool called Recall for Windows computers that acts as a personal “time machine,” allowing users to quickly pull up anything that’s ever been on screen, such as documents, images and websites.', 'It’s different from a keyword search; the tool regularly saves screenshots of the user’s screen and stores them directly on the device.', 'It then uses AI to process the data and make it searchable.', 'For example, if someone previously searched for a green dress or the name of a local ice cream shop, they can ask the feature to “recall” anything in their history that was shown on screen.', 'Although so-called semantic search is a big step forward for AI, it comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.', 'Jen Golbeck – a professor of AI at the University of Maryland who focuses on privacy– said the recall feature could pose a potential “nightmare” if the device falls into the wrong hands.', '“Stuff may stay on your device, but that doesn’t mean people can’t get to it,” she said. “', 'You won’t have an option to protect yourself even if you use incognito mode or clear your history because the tool has access to everything that’s been on your screen.”', 'The UK’s independent regulator for Data Protection and Freedom of Information, the Information Commissioner’s Office (ICO), told CNN it is investigating the tool “to understand the safeguards in place to protect user privacy.”', '“We expect organisations to be transparent with users about how their data is being used and only process personal data to the extent that it is necessary to achieve a specific purpose,” the ICO said in a statement.', 'Microsoft did not immediately respond to a request for comment.', 'CEO Satya Nadella told The Wall Street Journal in an interview ahead of Monday’s launch that web searches must only be done on Microsoft’s Edge web browser and that the screenshots never leave the user’s computer.', '“You have to put two things together: This is my computer and this is my Recall – and it’s all being done locally,” he said.', 'Geoff Blaber, CEO of market research firm CCS Insight, said that makes the issue less concerning.', '“The backlash by some to this feature isn’t surprising, but it’s an overreaction given that the data stays exclusively on the device and the user has full control,” Blaber said.', 'Someone can decide whether to turn the feature on during the device setup process and can customize and blacklist which apps and websites Recall can access.', '“These controls suggest the feature has been built with security and privacy at its core,” he said. “', 'Recall won’t appeal to everyone but the utility provided is likely to be significant.”', 'But Golbeck cited times when that protection might not be enough, such as a journalist in a hostile country, a person trying to get out of an abusive relationship, someone searching for sensitive medical information or an employee whose boss wants to track them.', 'She believes issues around the tool will likely impact the workplace the most.', '“We know jobs monitor what we’re doing on their devices, but a lot of people will do a personal thing on their work computer and all of that will be archived and visible to an IT department, even if it just stays on device,” she added.', 'Golbeck said technology, despite the benefits, is too often developed without the consideration of malicious uses.', '“What we’ve seen over the last 15 years is every single one of those potential malicious use cases comes to fruition in some way or another,” she said. “', 'People will want to use this cool feature without understanding the privacy risk – that there will be a permanent record of everything you do.”', 'Similar reactions to features such as biometric passwords, such as fingerprints, facial recognition and iris scans, have emerged in the past.', 'Blaber said to overcome some of the initial concerns, Microsoft and its partners will need to prove the value, security and privacy of the product in the real world.', 'Still, Michela Menting, a senior research director at ABI Research, believes the feature is a “step backwards” for privacy.', '“The argument that hackers need physical access to even be able to manipulate Recall is short-sighted at best because there are plenty of highly ingenious ways threat actors could exploit such a valuable tool,” she said. “', 'All it takes is time and effort to find a way.”']",0.0268491883350633,"The UK’s independent regulator for Data Protection and Freedom of Information, the Information Commissioner’s Office (ICO), told CNN it is investigating the tool “to understand the safeguards in place to protect user privacy.”","But Golbeck cited times when that protection might not be enough, such as a journalist in a hostile country, a person trying to get out of an abusive relationship, someone searching for sensitive medical information or an employee whose boss wants to track them.",-0.3065819011794196,"Although so-called semantic search is a big step forward for AI, it comes at a time when the industry is moving so quickly and government regulators, companies and consumers are still figuring out how to use the technology responsibly.","Still, Michela Menting, a senior research director at ABI Research, believes the feature is a “step backwards” for privacy.",2024-05-22
+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.",2024-05-22
+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).",2024-05-22
+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.",2024-05-22
+Children top up pocket money with extra work,https://www.bbc.co.uk/news/articles/c1004pnd44eo,2024-05-21T00:59:57.722Z,"Children are getting paid for chores at home and developing side hustles to top up pocket money, a report has claimed. Financially stretched parents are less likely to give youngsters a weekly allowance than they were the previous year, according to NatWest Rooster Money. But children are supplementing their incomes, thanks to completing other work at home and for themselves. That takes overall weekly income up by 3p on a year earlier to £9.23, the report estimates. The findings are based on data drawn from more than 300,000 children aged between 6 and 17 who use the NatWest Rooster Money pocket money app and prepaid card. As such, it can only be an estimate, and will not include children who do not receive any money at all. It suggests that a shrinking proportion of families, with children using the app, now pay pocket money as part of a regular routine. In this data, about 30% pay regular pocket money, compared with 32% a year earlier, with youngsters most commonly receiving it on a Saturday. A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier. Mowing the lawn, cleaning the car, cleaning the windows and gardening are the most lucrative, according to the report. Others are developing their own income, primarily through paper rounds and reselling their possessions, it found. The BBC spoke to a group of youngsters attending a youth club who said they were developing an entrepreneurial spirit. ""I don't really get pocket money but I have my own little business [applying glitter tattoos],"" said Scarlett, aged 10. ""So far, out of all of the parties I've done this year, I've probably got like 100 and something pounds."" Nine-year-old Holly said: ""Every week I get £1.50 and I do tasks. I make my bed, I do the dishwasher, I do the dusting, I clean my bedroom, I put my clothes away. ""My favourite thing to spend it on is probably sweets."" And Joe, 12, said: ""I don't get pocket money but I am good at home so if I get an accomplishment I will get £10."" Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested. But Joe has something else in mind. ""Probably saving up for a car. I know I'm 12 but every pocket money counts."" ",BBC,21/05/2024,"['Children are getting paid for chores at home and developing side hustles to top up pocket money, a report has claimed.', 'Financially stretched parents are less likely to give youngsters a weekly allowance than they were the previous year, according to NatWest Rooster Money.', 'But children are supplementing their incomes, thanks to completing other work at home and for themselves.', 'That takes overall weekly income up by 3p on a year earlier to £9.23, the report estimates.', 'The findings are based on data drawn from more than 300,000 children aged between 6 and 17 who use the NatWest Rooster Money pocket money app and prepaid card.', 'As such, it can only be an estimate, and will not include children who do not receive any money at all.', 'It suggests that a shrinking proportion of families, with children using the app, now pay pocket money as part of a regular routine.', 'In this data, about 30% pay regular pocket money, compared with 32% a year earlier, with youngsters most commonly receiving it on a Saturday.', 'A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier.', 'Mowing the lawn, cleaning the car, cleaning the windows and gardening are the most lucrative, according to the report.', 'Others are developing their own income, primarily through paper rounds and reselling their possessions, it found.', 'The BBC spoke to a group of youngsters attending a youth club who said they were developing an entrepreneurial spirit. ""', 'I don\'t really get pocket money but I have my own little business [applying glitter tattoos],"" said Scarlett, aged 10. ""', 'So far, out of all of the parties I\'ve done this year, I\'ve probably got like 100 and something pounds.""', 'Nine-year-old Holly said: ""Every week I get £1.50 and I do tasks.', 'I make my bed, I do the dishwasher, I do the dusting, I clean my bedroom, I put my clothes away. ""', 'My favourite thing to spend it on is probably sweets.""', 'And Joe, 12, said: ""I don\'t get pocket money but I am good at home so if I get an accomplishment I will get £10.""', 'Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested.', 'But Joe has something else in mind. ""', 'Probably saving up for a car.', 'I know I\'m 12 but every pocket money counts.""']",0.1819051599651064,"Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested.",,-0.197792100906372,"That takes overall weekly income up by 3p on a year earlier to £9.23, the report estimates.",A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier.,2024-05-22
+Ryanair sees rises in air fares easing over summer,https://www.bbc.co.uk/news/articles/cd11x3lqj20o,2024-05-20T06:50:37.177Z,"No-frills airline Ryanair has said fares during the peak summer season are set to be unchanged or only ""modestly"" higher than last year. The carrier said while it expected ""strong"" demand for flights in July and August, airfares had been growing slower than expected recently. Airline boss Michael O'Leary said this could be down to a ""recessionary feel around Europe"". His comments came as Ryanair said profits for the year to March jumped 34% to €1.92bn (£1.64bn) after fares rose by a fifth. Demand for air travel has been increasing steadily ever since the Covid pandemic restrictions were lifted. In the past few weeks, British Airways owner IAG and EasyJet have both been forecasting strong demand for flights this summer. Ryanair said it carried 183.7 million passengers in the year to March, with average fares up 21% to €49.80. It said it had seen record trading last summer, and strong traffic over Easter in March. However, this was offset by a fall in numbers at the end of last year, after Ryanair flights were removed from several online travel agents. The airline said bookings for this summer were ahead of last year, although fares were not as high as it had expected. ""We still see reasonable strength in July and August bookings, the peak summer months, but April, May and June are a little bit weaker than we had originally expected,"" Mr O'Leary said. ""We remain cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of summer 2023,"" he added “It’s a little bit surprising that pricing hasn’t been stronger and we’re not sure if that’s kind of consumer sentiment , or recessionary feel around Europe."" Ryanair, which has been hampered in its expansion plans by delays to the delivery of new Boeing planes, said it could carry 198-200 million customers this year if the new aircraft are delivered on schedule. It said there was a risk the deliveries could ""slip further"", but Mr O'Leary said he thought this was ""unlikely"". However, the airline said it would be short of about 23 Boeing 737s that were due to arrive by the end of July. Mr O'Leary said Ryanair would receive compensation from Boeing for the delays, although it would be ""modest"" and did not reflect the cost to the airline of having to cut back its growth plans. The carrier said it was continuing to work closely with the aerospace giant to improve quality and increase the pace of deliveries. Boeing's planes have come under intense focus once again after the  company was plunged into a crisis in January when a panel on one of its aircraft blew out in mid-air.  Scrutiny over Boeing's plane manufacturing processes has led to a slowdown in deliveries. Boeing boss Dave Calhoun has said he will step down from the planemaker at the end of the year. Mr O'Leary said Ryanair welcomed Boeing's management changes, and ""already we’re seeing improved quality on our aircraft deliveries but sadly not yet enough progress on accelerating those deliveries"". Ryanair did not give any profit forecasts for the current year, saying that was ""heavily dependent"" upon avoiding adverse events such as the wars in Ukraine and the Middle East, extensive air traffic control disruptions or further Boeing delivery delays. ",BBC,20/05/2024,"['No-frills airline Ryanair has said fares during the peak summer season are set to be unchanged or only ""modestly"" higher than last year.', 'The carrier said while it expected ""strong"" demand for flights in July and August, airfares had been growing slower than expected recently.', 'Airline boss Michael O\'Leary said this could be down to a ""recessionary feel around Europe"".', 'His comments came as Ryanair said profits for the year to March jumped 34% to €1.92bn (£1.64bn) after fares rose by a fifth.', 'Demand for air travel has been increasing steadily ever since the Covid pandemic restrictions were lifted.', 'In the past few weeks, British Airways owner IAG and EasyJet have both been forecasting strong demand for flights this summer.', 'Ryanair said it carried 183.7 million passengers in the year to March, with average fares up 21% to €49.80.', 'It said it had seen record trading last summer, and strong traffic over Easter in March.', 'However, this was offset by a fall in numbers at the end of last year, after Ryanair flights were removed from several online travel agents.', 'The airline said bookings for this summer were ahead of last year, although fares were not as high as it had expected. ""', 'We still see reasonable strength in July and August bookings, the peak summer months, but April, May and June are a little bit weaker than we had originally expected,"" Mr O\'Leary said. ""', 'We remain cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of summer 2023,"" he added “It’s a little bit surprising that pricing hasn’t been stronger and we’re not sure if that’s kind of consumer sentiment , or recessionary feel around Europe.""', 'Ryanair, which has been hampered in its expansion plans by delays to the delivery of new Boeing planes, said it could carry 198-200 million customers this year if the new aircraft are delivered on schedule.', 'It said there was a risk the deliveries could ""slip further"", but Mr O\'Leary said he thought this was ""unlikely"".', 'However, the airline said it would be short of about 23 Boeing 737s that were due to arrive by the end of July.', 'Mr O\'Leary said Ryanair would receive compensation from Boeing for the delays, although it would be ""modest"" and did not reflect the cost to the airline of having to cut back its growth plans.', 'The carrier said it was continuing to work closely with the aerospace giant to improve quality and increase the pace of deliveries.', ""Boeing's planes have come under intense focus once again after the company was plunged into a crisis in January when a panel on one of its aircraft blew out in mid-air."", ""Scrutiny over Boeing's plane manufacturing processes has led to a slowdown in deliveries."", 'Boeing boss Dave Calhoun has said he will step down from the planemaker at the end of the year.', 'Mr O\'Leary said Ryanair welcomed Boeing\'s management changes, and ""already we’re seeing improved quality on our aircraft deliveries but sadly not yet enough progress on accelerating those deliveries"".', 'Ryanair did not give any profit forecasts for the current year, saying that was ""heavily dependent"" upon avoiding adverse events such as the wars in Ukraine and the Middle East, extensive air traffic control disruptions or further Boeing delivery delays.']",0.022353811237513,"We remain cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of summer 2023,"" he added “It’s a little bit surprising that pricing hasn’t been stronger and we’re not sure if that’s kind of consumer sentiment , or recessionary feel around Europe.""","Ryanair did not give any profit forecasts for the current year, saying that was ""heavily dependent"" upon avoiding adverse events such as the wars in Ukraine and the Middle East, extensive air traffic control disruptions or further Boeing delivery delays.",0.1990700244903564,"Ryanair said it carried 183.7 million passengers in the year to March, with average fares up 21% to €49.80.",Scrutiny over Boeing's plane manufacturing processes has led to a slowdown in deliveries.,2024-05-22
+Israel reverses on seizure of Associated Press camera feed after intense backlash,https://edition.cnn.com/2024/05/21/media/israel-gaza-live-camera-shut-down/index.html,"
+  Updated
+        4:21 PM EDT, Tue May 21, 2024
+    ","In a sharp reversal, Israel said Tuesday it would return camera and broadcast equipment it had seized from the Associated Press in the southern Israeli city of Sderot on Tuesday after the action prompted swift backlash from US officials and press groups.
+    
+            In a statement late Tuesday, Israel’s Communications Minister Shlomo Karhi said that he “has ordered that the equipment be returned to the AP news agency,” because the Israeli “Ministry of Defense requested to re-examine the matter of broadcasts from sensitive locations and their effect on the risk of our forces.”
+    
+            Earlier in the day, the Associated Press said Israeli authorities had shut down its live camera feed showing Gaza and seized its equipment in what it decried as an “abusive use by the Israeli government of the country’s new foreign broadcasters law.”
+    
+            “The Associated Press decries in the strongest terms the actions of the Israeli government,” the non-profit news collective said in a statement. “We urge the Israeli authorities to return our equipment and enable us to reinstate our live feed immediately so we can continue to provide this important visual journalism to thousands of media outlets around the world.”
+    
+            Karhi said that the AP feed was cut and equipment seized because the AP was providing Al Jazeera with content after the Qatari-based network was banned in the country.
+    
+            The Israeli military regularly classifies areas around Gaza as “closed military zones,” restricting movement there. The AP’s live feed provided a view of actions in Gaza, where no independent journalists are able to operate because of Israeli and Egyptian restrictions on entry to the strip.
+    
+            The Israeli government’s decision to return broadcasting equipment to the AP came after the White House expressed concerns to the Netanyahu-led government, a White House official told CNN.
+    
+            “As soon as we learned about the reports, the White House and the State Department immediately engaged with the Government of Israel at high levels to express our serious concern and ask them to reverse this action, which they have publicly committed to do,” National Security Council spokesperson Adrienne Watson told CNN. “The free press is an essential pillar of democracy and members of the media, including AP, do vital work that must be respected.”
+    
+            The Associated Press applauded the Israeli Ministry of Communications’ decision to return its equipment but said it remained concerned about the law at the center of the action.
+    
+            “While we are pleased with this development, we remain concerned about the Israeli government’s use of the foreign broadcaster law and the ability of independent journalists to operate freely in Israel.”
+    
+            Earlier, the Foreign Press Association voiced its alarm about the shutdown and confiscation.
+    
+            “Israel’s move today is a slippery slope. Israel could block other international news agencies from providing live footage of Gaza. It also could allow Israel to block media coverage of virtually any news event on vague security grounds,” the FPA said in a statement.
+    
+            The move comes weeks after Israel shut down Al Jazeera’s operations in the country, raiding the news outlet’s offices and seizing its communication equipment, prompting swift condemnation from the United Nations and rights groups over Israeli Prime Minister Benjamin Netanyahu’s moves to restrict press freedoms.
+    
+            The law approved by Israel’s parliament last month gives the prime minister and the communications minister the authority to “temporarily” order the closure of foreign networks operating in Israel that are deemed a threat to national security. News organizations could be banned for a 45-day period, although the government can renew the ban for additional 45-day periods. The law itself is also technically temporary and will expire on July 31 or earlier if an emergency declaration due to the war is canceled.
+    
+            Several legal challenges to the law are pending in Israeli courts. The Israeli Supreme Court recently declined to issue an emergency injunction against the law filed by The Association for Civil Rights in Israel, although a hearing is expected to be held on the challenge by June 6.
+    
+            The group said in its petition filed in early April that the law “violates freedom of expression, the right to information and freedom of the press,” and “tramples on the principles of the rule of law and the independence of the judiciary, since it includes an “override clause” that prevents the court from overturning an illegal decision.” Another legal challenge has been filed in the Tel Aviv District Court.
+    
+            In an earlier statement, Karhi had accused the AP of violating its new law by providing a feed to its thousands of news clients, including Al Jazeera.
+    
+            The confiscated equipment included a camera, tripod, two microphones and transmission equipment, the statement said.
+    
+            The press freedom group Reporters Without Borders condemned Israel’s decision to seize the equipment.
+    
+            “After having banned Al Jazeera, Israel is lashing out at the AP,” it said in a statement. “RSF denounces the seizure of the news outlet’s camera and the interruption of the continuous feed that films Gaza under the pretext that these images are supplying, among others, Al Jazeera.”
+    
+            The Union of Israeli Journalists also condemned the act, calling it “a serious threat to press freedom and democracy.”
+    
+            Israel opposition leader Yair Lapid also denounced the seizure as “an act of madness.”
+    
+            “This is not Al Jazeera, this is an American media outlet that has won 53 Pulitzer Prizes,” he said in a statement. “This government behaves as if it has decided to make sure at any cost that Israel will be outcast all over the world. They went mad.”",CNN,21/05/2024,"['In a sharp reversal,IsraelsaidTuesdayitwouldreturn cameraand broadcastequipment ithad seized from the AssociatedPressinthesouthern Israeli cityofSderot on Tuesdayafter the action prompted swift backlash from US officials and press groups.', 'In a statement late Tuesday, Israel’s Communications Minister Shlomo Karhi said that he“has ordered that the equipment be returned to theAP news agency,”becausethe Israeli“Ministry of Defense requested to re-examine the matter of broadcasts from sensitive locations and their effect on the risk of our forces.”', 'Earlier in the day, the Associated Press said Israeli authorities had shut down its live camera feed showing Gaza and seized its equipment in what it decried as an “abusive use by the Israeli government of the country’s new foreign broadcasters law.”', '“The Associated Press decries in the strongest terms the actions of the Israeli government,” the non-profit news collective said in a statement. “', 'We urge the Israeli authorities to return our equipment and enable us to reinstate our live feed immediately so we can continue to provide this important visual journalism to thousands of media outlets around the world.”', 'Karhi said that the AP feed was cut and equipment seized because the AP was providing Al Jazeera with content after the Qatari-based network was banned in the country.', 'The Israeli military regularly classifies areas around Gaza as “closed military zones,” restricting movement there.', 'The AP’s live feed provided a view of actions in Gaza, where no independent journalists are able to operate because of Israeli and Egyptian restrictions on entry to the strip.', 'The Israeli government’s decision to return broadcasting equipment to the AP came after the White House expressed concerns to the Netanyahu-led government, a White House official told CNN.', '“As soon as we learned about the reports, the White House and the State Department immediately engaged with the Government of Israel at high levels to express our serious concern and ask them to reverse this action, which they have publicly committed to do,” National Security Council spokesperson Adrienne Watson told CNN. “', 'The free press is an essential pillar of democracy and members of the media, including AP, do vital work that must be respected.”', 'The Associated Press applauded the Israeli Ministry of Communications’ decisionto return its equipment but said it remained concerned about the law at the center of the action.', '“While we are pleased with this development, we remain concerned about the Israeli government’s use of the foreign broadcaster law and the ability of independent journalists to operate freely in Israel.”', 'Earlier, the Foreign Press Association voiced its alarm about the shutdown and confiscation.', '“Israel’s move today is a slippery slope.', 'Israel could block other international news agencies from providing live footage of Gaza.', 'It also could allow Israel to block media coverage of virtually any news event on vague security grounds,” the FPA said in a statement.', 'The move comes weeks afterIsrael shut down Al Jazeera’s operationsin the country, raiding the news outlet’s offices and seizing its communication equipment, prompting swift condemnation from the United Nations and rights groups over Israeli Prime Minister Benjamin Netanyahu’s moves to restrict press freedoms.', 'The law approved by Israel’s parliament last month gives the prime minister and the communications minister the authority to “temporarily” order the closure of foreign networks operating in Israel that are deemed a threat to national security.', 'News organizations could be banned for a 45-day period, although the government can renew the ban for additional 45-day periods.', 'The law itself is also technically temporary and will expire on July 31 or earlier if an emergency declaration due to the war is canceled.', 'Several legal challenges to the law are pending in Israeli courts.', 'The Israeli Supreme Court recently declined to issue an emergency injunction against the law filed by The Association for Civil Rights in Israel, although a hearing is expected to be held on the challenge by June 6.', 'The group said in its petition filed in early April that the law “violates freedom of expression, the right to information and freedom of the press,” and “tramples on the principles of the rule of law and the independence of the judiciary, since it includes an “override clause” that prevents the court from overturning an illegal decision.”', 'Another legal challenge has been filed in the Tel Aviv District Court.', 'In an earlier statement, Karhi had accused the AP of violating its new law by providing a feed to its thousands of news clients, including Al Jazeera.', 'The confiscated equipment included a camera, tripod, two microphones and transmission equipment, the statement said.', 'The press freedom group Reporters Without Borders condemned Israel’s decision to seize the equipment.', '“After having banned Al Jazeera, Israel is lashing out at the AP,” it said in a statement. “', 'RSF denounces the seizure of the news outlet’s camera and the interruption of the continuous feed that films Gaza under the pretext that these images are supplying, among others, Al Jazeera.”', 'The Union of Israeli Journalists also condemned the act, calling it “a serious threat to press freedom and democracy.”', 'Israel opposition leader Yair Lapid also denounced the seizure as “an act of madness.”', '“This is not Al Jazeera, this is an American media outlet that has won 53 Pulitzer Prizes,” he said in a statement. “', 'This government behaves as if it has decided to make sure at any cost that Israel will be outcast all over the world.', 'They went mad.”']",-0.020326304883205,"The free press is an essential pillar of democracy and members of the media, including AP, do vital work that must be respected.”","News organizations could be banned for a 45-day period, although the government can renew the ban for additional 45-day periods.",-0.6937167048454285,"“While we are pleased with this development, we remain concerned about the Israeli government’s use of the foreign broadcaster law and the ability of independent journalists to operate freely in Israel.”",“Israel’s move today is a slippery slope.,2024-05-22
+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.,2024-05-22
+Is India’s free press not so free after a decade of Modi?,https://edition.cnn.com/2024/05/22/media/india-elections-press-freedom-decline-intl-hnk/index.html,"
+  Published
+        12:03 AM EDT, Wed May 22, 2024
+    ","These days, journalist Siddique Kappan avoids controversial stories.
+    
+            Last time he chased a major story, a shocking rape-and-murder case, it landed the father of three in jail for more than two years, and severely damaged his career and livelihood. The 44-year-old blames his incarceration on a worsening climate for journalists in India, where arrests and harassment are growing more common.
+    
+            And he is far from the only journalist feeling squeezed out of their industry during Prime Minister Narendra Modi’s decade-long rule.
+    
+            The government of the popular but divisive leader - who has not taken a single solo press conference while in office - stands accused by opponents of suppressing media pluralism and ratcheting up the use of anti-terror legislation against reporters.
+    
+            And as Modi looks to win another five years in power in an ongoing nationwide election, critics fear further erosion of the protections afforded to India’s free press.
+    
+            “I think many times before I write stories,” Kappan told CNN. “Anytime, anywhere, anyone can file a case against me.”
+    
+            In October 2020, Kappan was working as a freelancer for a Malayalam-language news website. He was on his way to Hathras district, in northern Uttar Pradesh state, to report on the alleged gang rape and killing of a Dalit teenager by upper-caste men. India’s caste system was officially abolished decades ago, but the social hierarchy imposed on people by birth still exists in many aspects of life. Dalits are on the lowest rung.
+    
+            Before he arrived at the scene, he was taken into police custody, charged under anti-terror and money laundering laws. The police alleged he was part of a conspiracy to disturb the peace in the area, but he said his arrest was an attempt to tamp down on coverage of the story.
+    
+            He would spend 28 months in jail. Kappan was granted bail by the Supreme Court in February 2023, but while he currently walks free, his case is still making its way through the courts.
+    
+            Opposing his bail, the Uttar Pradesh government, led by Modi’s Bharatiya Janata Party (BJP), filed an affidavit in the Supreme Court. In the document, seen by CNN, it argued against bail on the grounds Kappan had been “writing articles targeted at spreading communal tensions” and was a part of a larger conspiracy to “foment religious discord and spread terror in the country.”
+    
+            CNN has contacted the BJP at both the local and national level for comment on the case.
+    
+            Since his bail, Kappan has struggled to find a permanent job to provide for his family. “The main reason is the fear of newspaper bosses, the media, which depends on government advertisement, who do not want to upset the government,” he told CNN.
+    
+            He says he is wary of more cases being brought against him, and finds himself working on “safe zone” stories unlikely to ruffle feathers.
+    
+            The treatment of journalists like Kappan has struck fear into many other reporters.
+    
+            “There was nothing Kappan could have done differently to avoid arrest, except not going to report,” said Kaushik Raj, who works with several publications and writes on hate crimes. “This was chilling for me.”
+    
+            India is one of the largest media markets in the world, according to the Paris-based group Reporters Without Borders (RSF), with more than 20,000 daily newspapers across the country and about 450 privately owned channels dedicated to news, which broadcast in dozens of languages.
+    
+            Yet despite its size and diversity, critics say the media industry is growing increasingly subservient to Modi’s government.
+    
+            “There was a blend of public service, public interest and corporate private media that served a burgeoning urban middle class, but also showed interest in issues of rural development. Journalists were respected… Regulatory mechanisms were weak but not completely absent,” said Shakuntala Banaji, professor of media, culture and social change at the London School of Economics.
+    
+            “They have been all but destroyed in the last 10 years,” she added.
+    
+            According to RSF, the country fell 25 places on the Press Freedom Index between 2015 and 2023, to 161st place – below neighboring Pakistan, Sri Lanka, and Nepal. In the latest index for this year it rose slightly to 159th place but remains below all neighbors except Bangladesh (165th).
+    
+            “There has been a sharp deterioration in the status of media over the last ten years,” Committee to Protect Journalists (CPJ) India representative Kunal Majumder told CNN, adding that this included imprisonment and invoking terror laws to criminalize journalists.
+    
+            According to the CPJ, 21 journalists were imprisoned in India between 2014 and 2023, up from four between 2004 and 2013.
+    
+            There has also been an uptick, it said, in the use of anti-terror laws – which allow for detention without trial or charge for up to 180 days – against reporters.
+    
+            Police have used the same anti-terror law against a website linked to a left-leaning organisation critical of the government. In a charge sheet filed to the court recently and seen by CNN, police claimed NewsClick was responsible for stoking riots that hit New Delhi in 2020, spreading disinformation around Covid, and funding terror groups. In a statement, NewsClick said the claims were absurd and baseless, and were intended to “target independent journalism.” Its editor Prabir Purkayastha was in jail from October 3 until Wednesday, when the Supreme Court granted him bail, saying his arrest and remand were “invalid in the eyes of law.”
+    
+            “When the state resorts to using anti-terror laws to shut down the freedom of expression of journalists holding institutions to account, then we are deep in authoritarian rule,” said Banaji from LSE.
+    
+            Asked about this apparent increase in hostility to journalists, Kanchan Gupta, senior advisor to the Ministry of Information and Broadcasting, told CNN that media workers were not above the law.
+    
+            “If journalists violate the law they are open to prosecution and legal action,” he said.
+    
+            Alleged harassment of reporters has worsened too, according to press freedom groups. The Amnesty 2022 release says Hindu nationalists feel emboldened to threaten and abuse journalists critical of the government.
+    
+            Ravish Kumar, one of the country’s best-known journalists, said he has not felt safe for many years while people from various Hindu-nationalist organisations showered him with death threats and abuse.
+    
+            The face of New Delhi Television (NDTV) for more than two decades, Kumar said he chose to resign when he was told he would have to toe the government line. He said he was driven to this decision during a hostile takeover of the channel by billionaire Gautam Adani in late 2022.
+    
+            CNN has contacted NDTV for comment.
+    
+            Kumar told CNN he resigned because Adani’s proximity to Modi and the BJP would leave him unable to continue asking tough questions of the government.
+    
+            Soon after, he started his own YouTube channel with a small team that has about 10 million subscribers. He said he took to YouTube – where his videos receive at least a million views within their first 24 hours - because there was no other option left.
+    
+            “There is no place for people like us in Indian media anymore,” he said.
+    
+            Critics say TV news has been overrun by pro-government voices. With the world’s largest election underway, a study of prime-time shows by media watchdog Newslaundry - that tracked more than 400 segments between February 1 and April 12 - showed that 52% of airtime was spent criticizing the opposition, while another 27% pushed pro-Modi narratives.
+    
+            For Kumar the pluralism of India’s past is fast disappearing. “There is very little time and space left, so we’re living our last moments,” he said.
+    
+            But Gupta, of the information ministry, said it was “not true” that the media toes a government line. “There are 903 satellite channels in the country,” he said. “If you look at the headlines across newspapers and television channels you will see that this generalization is not true.”
+    
+            “This entire thing of saying that the media houses or individual journalists are manipulated by the government, that is not true.”
+    
+            It is not just local reporters who face obstacles. The Australian Broadcasting Corporation’s South Asia bureau chief Avani Dias recently left the country, as did Vanessa Dougnac, regional correspondent for four French publications.
+    
+            Dias said the government told her that her visa extension would be denied as her reporting had “crossed a line,” though the government has denied this. It said she was granted an extension the day she paid her visa fees, on 18 April, but decided to leave nonetheless on 20 April.
+    
+            Dougnac, an overseas citizen of India (OCI) who worked in the country for 23 years, left in February. In January, she said, she received a notice from the Ministry of Home Affairs stating that her journalistic activities were “malicious” and “critical in a manner that they create a biased negative perception about India.”
+    
+            She applied for her journalistic permit – as required for OCIs since 2022 – but was denied. “They gave no reasons nor any justifications for why they denied my permit,” she told CNN from Paris.
+    
+            India’s Home Ministry did not respond to CNN’s request for comment about Dougnac’s situation.
+    
+            And in February last year the Indian offices of the BBC were raided by tax authorities, weeks after the broadcaster aired a documentary highly critical of Modi.
+    
+            The documentary, which was described as “anti-India garbage” by a senior advisor to the Ministry of Information and Broadcasting, was later blocked on social media platforms.
+    
+            Speaking to reporters shortly after the BBC raids, BJP spokesperson Gaurav Bhatia made no reference to the documentary, and said companies, including media agencies, must “follow and respect Indian law.” The BBC has since split its India operations into separate companies in a bid to meet the country’s foreign investment rules.
+    
+            Dougnac said she was not surprised by the actions against international media.
+    
+            “It started with local journalists and slowly foreign correspondents got the sense they were next,” she said.
+    
+            “That is what is happening now.”
+    
+            Despite witnessing what is happening to and around him, Kappan says he has not lost faith in journalism in india. He considers advocating for it a “moral imperative.”
+    
+            “Despite the personal risks involved, the pursuit of truth remains paramount,” he said.",CNN,22/05/2024,"['These days, journalist Siddique Kappan avoids controversial stories.', 'Last time he chased a major story, a shocking rape-and-murder case, it landed the father of three in jail for more than two years, and severely damaged his career and livelihood.', 'The 44-year-old blames his incarceration on a worsening climate for journalists in India, where arrests and harassment are growing more common.', 'And he is far from the only journalist feeling squeezed out of their industry during Prime Minister Narendra Modi’s decade-long rule.', 'The government of the popular but divisive leader - who has not taken a single solo press conference while in office - stands accused by opponents of suppressing media pluralism and ratcheting up the use of anti-terror legislation against reporters.', 'And as Modi looks to win another five years in power in an ongoing nationwide election, critics fear further erosion of the protections afforded to India’s free press.', '“I think many times before I write stories,” Kappan told CNN. “', 'Anytime, anywhere, anyone can file a case against me.”', 'In October 2020, Kappan was working as a freelancer for a Malayalam-language news website.', 'He was on his way to Hathras district, in northern Uttar Pradesh state, to report on the alleged gang rape and killing of a Dalit teenager by upper-caste men.', 'India’s caste system was officially abolished decades ago, but the social hierarchy imposed on people by birth still exists in many aspects of life.', 'Dalits are on the lowest rung.', 'Before he arrived at the scene, he was taken into police custody, charged under anti-terror and money laundering laws.', 'The police alleged he was part of a conspiracy to disturb the peace in the area, but he said his arrest was an attempt to tamp down on coverage of the story.', 'He would spend 28 months in jail.', 'Kappan was granted bail by the Supreme Court in February 2023, but while he currently walks free, his case is still making its way through the courts.', 'Opposing his bail, the Uttar Pradesh government, led by Modi’s Bharatiya Janata Party (BJP), filed an affidavit in the Supreme Court.', 'In the document, seen by CNN, it argued against bail on the grounds Kappan had been “writing articles targeted at spreading communal tensions” and was a part of a larger conspiracy to “foment religious discord and spread terror in the country.”', 'CNN has contacted the BJP at both the local and national level for comment on the case.', 'Since his bail, Kappan has struggled to find a permanent job to provide for his family. “', 'The main reason is the fear of newspaper bosses, the media, which depends on government advertisement, who do not want to upset the government,” he told CNN.', 'He says he is wary of more cases being brought against him, and finds himself working on “safe zone” stories unlikely to ruffle feathers.', 'The treatment of journalists like Kappan has struck fear into many other reporters.', '“There was nothing Kappan could have done differently to avoid arrest, except not going to report,” said Kaushik Raj, who works with several publications and writes on hate crimes. “', 'This was chilling for me.”', 'India is one of the largest media markets in the world, according to the Paris-based group Reporters Without Borders (RSF), with more than 20,000 daily newspapers across the country and about 450 privately owned channels dedicated to news, which broadcast in dozens of languages.', 'Yet despite its size and diversity, critics say the media industry is growing increasingly subservient to Modi’s government.', '“There was a blend of public service, public interest and corporate private media that served a burgeoning urban middle class, but also showed interest in issues of rural development.', 'Journalists were respected… Regulatory mechanisms were weak but not completely absent,” said Shakuntala Banaji, professor of media, culture and social change at the London School of Economics.', '“They have been all but destroyed in the last 10 years,” she added.', 'According to RSF, the country fell 25 places on the Press Freedom Index between 2015 and 2023, to 161st place – below neighboring Pakistan, Sri Lanka, and Nepal.', 'In the latest index for this year it rose slightly to 159th place but remains below all neighbors except Bangladesh (165th).', '“There has been a sharp deterioration in the status of media over the last ten years,” Committee to Protect Journalists (CPJ) India representative Kunal Majumder told CNN, adding that this included imprisonment and invoking terror laws to criminalize journalists.', 'According to the CPJ, 21 journalists were imprisoned in India between 2014 and 2023, up from four between 2004 and 2013.', 'There has also been an uptick, it said, in the use of anti-terror laws – which allow for detention without trial or charge for up to 180 days – against reporters.', 'Police have used the same anti-terror law against a website linked to a left-leaning organisation critical of the government.', 'In a charge sheet filed to the court recently and seen by CNN, police claimed NewsClick was responsible for stoking riots that hit New Delhi in 2020, spreading disinformation around Covid, and funding terror groups.', 'In a statement, NewsClick said the claims were absurd and baseless, and were intended to “target independent journalism.”', 'Its editor Prabir Purkayastha was in jail from October 3 until Wednesday, when the Supreme Court granted him bail, saying his arrest and remand were “invalid in the eyes of law.”', '“When the state resorts to using anti-terror laws to shut down the freedom of expression of journalists holding institutions to account, then we are deep in authoritarian rule,” said Banaji from LSE.', 'Asked about this apparent increase in hostility to journalists, Kanchan Gupta, senior advisor to the Ministry of Information and Broadcasting, told CNN that media workers were not above the law.', '“If journalists violate the law they are open to prosecution and legal action,” he said.', 'Alleged harassment of reporters has worsened too, according to press freedom groups.', 'The Amnesty 2022 release says Hindu nationalists feel emboldened to threaten and abuse journalists critical of the government.', 'Ravish Kumar, one of the country’s best-known journalists, said he has not felt safe for many years while people from various Hindu-nationalist organisations showered him with death threats and abuse.', 'The face of New Delhi Television (NDTV) for more than two decades, Kumar said he chose to resign when he was told he would have to toe the government line.', 'He said he was driven to this decision during a hostile takeover of the channel by billionaire Gautam Adani in late 2022.', 'CNN has contacted NDTV for comment.', 'Kumar told CNN he resigned because Adani’s proximity to Modi and the BJP would leave him unable to continue asking tough questions of the government.', 'Soon after, he started his own YouTube channel with a small team that has about 10 million subscribers.', 'He said he took to YouTube – where his videos receive at least a million views within their first 24 hours - because there was no other option left.', '“There is no place for people like us in Indian media anymore,” he said.', 'Critics say TV news has been overrun by pro-government voices.', 'With the world’s largest election underway, a study of prime-time shows by media watchdog Newslaundry - that tracked more than 400 segments between February 1 and April 12 - showed that 52% of airtime was spent criticizing the opposition, while another 27% pushed pro-Modi narratives.', 'For Kumar the pluralism of India’s past is fast disappearing. “', 'There is very little time and space left, so we’re living our last moments,” he said.', 'But Gupta, of the information ministry, said it was “not true” that the media toes a government line. “', 'There are 903 satellite channels in the country,” he said. “', 'If you look at the headlines across newspapers and television channels you will see that this generalization is not true.”', '“This entire thing of saying that the media houses or individual journalists are manipulated by the government, that is not true.”', 'It is not just local reporters who face obstacles.', 'The Australian Broadcasting Corporation’s South Asia bureau chief Avani Dias recently left the country, as did Vanessa Dougnac, regional correspondent for four French publications.', 'Dias said the government told her that her visa extension would be denied as her reporting had “crossed a line,” though the government has denied this.', 'It said she was granted an extension the day she paid her visa fees, on 18 April, but decided to leave nonetheless on 20 April.', 'Dougnac, an overseas citizen of India (OCI) who worked in the country for 23 years, left in February.', 'In January, she said, she received a notice from the Ministry of Home Affairs stating that her journalistic activities were “malicious” and “critical in a manner that they create a biased negative perception about India.”', 'She applied for her journalistic permit – as required for OCIs since 2022 – but was denied. “', 'They gave no reasons nor any justifications for why they denied my permit,” she told CNN from Paris.', 'India’s Home Ministry did not respond to CNN’s request for comment about Dougnac’s situation.', 'And in February last year the Indian offices of the BBC were raided by tax authorities, weeks after the broadcaster aired a documentary highly critical of Modi.', 'The documentary, which was described as “anti-India garbage” by a senior advisor to the Ministry of Information and Broadcasting, was later blocked on social media platforms.', 'Speaking to reporters shortly after the BBC raids, BJP spokesperson Gaurav Bhatia made no reference to the documentary, and said companies, including media agencies, must “follow and respect Indian law.”', 'The BBC has since split its India operations into separate companies in a bid to meet the country’s foreign investment rules.', 'Dougnac said she was not surprised by the actions against international media.', '“It started with local journalists and slowly foreign correspondents got the sense they were next,” she said.', '“That is what is happening now.”', 'Despite witnessing what is happening to and around him, Kappan says he has not lost faith in journalism in india.', 'He considers advocating for it a “moral imperative.”', '“Despite the personal risks involved, the pursuit of truth remains paramount,” he said.']",-0.2157200503498182,"Kappan was granted bail by the Supreme Court in February 2023, but while he currently walks free, his case is still making its way through the courts.","Last time he chased a major story, a shocking rape-and-murder case, it landed the father of three in jail for more than two years, and severely damaged his career and livelihood.",-0.696419153213501,In the latest index for this year it rose slightly to 159th place but remains below all neighbors except Bangladesh (165th).,"According to RSF, the country fell 25 places on the Press Freedom Index between 2015 and 2023, to 161st place – below neighboring Pakistan, Sri Lanka, and Nepal.",2024-05-22
+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.",2024-05-22
+Microsoft Copilot+ Recall feature 'privacy nightmare',https://www.bbc.co.uk/news/articles/cpwwqp6nx14o,2024-05-21T23:00:11.876Z,"The UK data watchdog says it is ""making enquiries with Microsoft"" over a new feature that can take screenshots of your laptop every few seconds. Microsoft says Recall, which will store encrypted snapshots locally on your computer, is exclusive to its forthcoming Copilot+ PCs. But the Information Commissioner's Office (ICO) says it is contacting Microsoft for more information on the safety of the product, which privacy campaigners have called a potential ""privacy nightmare"". Microsoft says Recall is an ""optional experience"" and it is committed to privacy and security. According to its website, users ""can limit which snapshots Recall collects"". ""Recall data is only stored locally and not accessed by Microsoft or anyone who does not have device access,"" the firm said in a statement. And it said a would-be hacker would need to gain physical access to your device, unlock it and sign in before they could access saved screenshots. But an ICO spokesperson said firms must ""rigorously assess and mitigate risks to peoples' rights and freedoms"" before bringing any new products to market. ""We are making enquiries with Microsoft to understand the safeguards in place to protect user privacy,"" they said. Recall has the ability to search through all users' past activity including files, photos, emails and browsing history. Many devices can already do this - but Recall also takes screenshots every few seconds and searches these too. ""This could be a privacy nightmare,"" said Dr Kris Shrishak, an adviser on AI and privacy.  ""The mere fact that screenshots will be taken during use of the device could have a chilling effect on people."" Microsoft says it ""built privacy into Recall’s design"" from the beginning, and users will have control over what is captured.  For example, users can opt out of capturing certain websites, and private browsing on Microsoft's own Edge browser will not be captured. ""People might avoid visiting certain websites and accessing documents, especially confidential documents, when Microsoft is taking screenshots every few seconds,"" said Dr Shrishak. And Daniel Tozer, data and privacy expert at Keystone Law, said the system reminded him of dystopian Netflix programme Black Mirror. ""Microsoft will need a lawful basis to record and re-display the user’s personal information,"" he said. ""There may well be information on the screen which is proprietary or confidential to the user’s employer; will the business be happy for Microsoft to be recording this? And he asked how consent would work for people appearing on the screen on a video call or photo.  ""Are they going to be given the choice as to whether to consent to that? User and access controls will be a key issue on which Microsoft will doubtless be focussing,"" he said. Meanwhile, Jen Caltrider, who leads a privacy team at Mozilla, suggested the plans meant someone who knew your password could now access your history in more detail. ""[This includes] law enforcement court orders, or even from Microsoft if they change their mind about keeping all this content local and not using it for targeted advertising or training their AIs down the line,"" she said. According to Microsoft, Recall will not moderate or remove information from screenshots which contain passwords or financial account information. ""That data may be in snapshots that are stored on your device, especially when sites do not follow standard internet protocols like cloaking password entry,"" said Ms Caltrider. ""I wouldn’t want to use a computer running Recall to do anything I wouldn’t do in front of a busload of strangers. ""That means no more logging into financial accounts, looking up sensitive health information, asking embarrassing questions, or even looking up information about a domestic violence shelter, reproductive health clinic, or immigration lawyer."" ",BBC,21/05/2024,"['The UK data watchdog says it is ""making enquiries with Microsoft"" over a new feature that can take screenshots of your laptop every few seconds.', 'Microsoft says Recall, which will store encrypted snapshots locally on your computer, is exclusive to its forthcoming Copilot+ PCs.', 'But the Information Commissioner\'s Office (ICO) says it is contacting Microsoft for more information on the safety of the product, which privacy campaigners have called a potential ""privacy nightmare"".', 'Microsoft says Recall is an ""optional experience"" and it is committed to privacy and security.', 'According to its website, users ""can limit which snapshots Recall collects"". ""', 'Recall data is only stored locally and not accessed by Microsoft or anyone who does not have device access,"" the firm said in a statement.', 'And it said a would-be hacker would need to gain physical access to your device, unlock it and sign in before they could access saved screenshots.', 'But an ICO spokesperson said firms must ""rigorously assess and mitigate risks to peoples\' rights and freedoms"" before bringing any new products to market. ""', 'We are making enquiries with Microsoft to understand the safeguards in place to protect user privacy,"" they said.', ""Recall has the ability to search through all users' past activity including files, photos, emails and browsing history."", 'Many devices can already do this - but Recall also takes screenshots every few seconds and searches these too. ""', 'This could be a privacy nightmare,"" said Dr Kris Shrishak, an adviser on AI and privacy. ""', 'The mere fact that screenshots will be taken during use of the device could have a chilling effect on people.""', 'Microsoft says it ""built privacy into Recall’s design"" from the beginning, and users will have control over what is captured.', 'For example, users can opt out of capturing certain websites, and private browsing on Microsoft\'s own Edge browser will not be captured. ""', 'People might avoid visiting certain websites and accessing documents, especially confidential documents, when Microsoft is taking screenshots every few seconds,"" said Dr Shrishak.', 'And Daniel Tozer, data and privacy expert at Keystone Law, said the system reminded him of dystopian Netflix programme Black Mirror. ""', 'Microsoft will need a lawful basis to record and re-display the user’s personal information,"" he said. ""', 'There may well be information on the screen which is proprietary or confidential to the user’s employer; will the business be happy for Microsoft to be recording this?', 'And he asked how consent would work for people appearing on the screen on a video call or photo. ""', 'Are they going to be given the choice as to whether to consent to that?', 'User and access controls will be a key issue on which Microsoft will doubtless be focussing,"" he said.', 'Meanwhile, Jen Caltrider, who leads a privacy team at Mozilla, suggested the plans meant someone who knew your password could now access your history in more detail. ""[', 'This includes] law enforcement court orders, or even from Microsoft if they change their mind about keeping all this content local and not using it for targeted advertising or training their AIs down the line,"" she said.', 'According to Microsoft, Recall will not moderate or remove information from screenshots which contain passwords or financial account information. ""', 'That data may be in snapshots that are stored on your device, especially when sites do not follow standard internet protocols like cloaking password entry,"" said Ms Caltrider. ""', 'I wouldn’t want to use a computer running Recall to do anything I wouldn’t do in front of a busload of strangers. ""', 'That means no more logging into financial accounts, looking up sensitive health information, asking embarrassing questions, or even looking up information about a domestic violence shelter, reproductive health clinic, or immigration lawyer.""']",0.142712819536428,"And it said a would-be hacker would need to gain physical access to your device, unlock it and sign in before they could access saved screenshots.","That means no more logging into financial accounts, looking up sensitive health information, asking embarrassing questions, or even looking up information about a domestic violence shelter, reproductive health clinic, or immigration lawyer.""",-0.9773996074994404,,"This could be a privacy nightmare,"" said Dr Kris Shrishak, an adviser on AI and privacy. """,2024-05-22
+BuzzFeed stock soars after Vivek Ramaswamy acquires activist stake,https://edition.cnn.com/2024/05/22/investing/buzzfeed-stock-vivek-ramaswamy-activist-stake/index.html,"
+  Updated
+        12:54 PM EDT, Wed May 22, 2024
+    ","BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy.
+    
+            Shares of BuzzFeed gained more than 25% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company. The stock popped more than 82% earlier at its highs.
+    
+            “Stay tuned,” Ramaswamy told CNN through spokesperson Tricia McLaughlin.
+    
+            BuzzFeed did not immediately respond to CNN’s request for comment.
+    
+            Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.
+    
+            He also seeks a “shift in the Company’s strategy,” the filing said.
+    
+            Shares of BuzzFeed have plummeted roughly 92% since its initial public offering in 2021, though it remains above its record low closing price of 67 cents per share.
+    
+            BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.
+    
+            The company in February sold Complex Networks for $108.6 million, after purchasing it for $300 million three years ago, as part of its effort to slash costs while improving the company’s profitability. BuzzFeed’s portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its “Hot Ones” YouTube series.
+    
+            Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company’s headcount by 15%.",CNN,22/05/2024,"['BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy.', 'Shares of BuzzFeed gained more than 25% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company.', 'The stock popped more than 82% earlier at its highs.', '“Stay tuned,” Ramaswamy told CNN through spokesperson Tricia McLaughlin.', 'BuzzFeed did not immediately respond to CNN’s request for comment.', 'Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.', 'He also seeks a “shift in the Company’s strategy,” the filing said.', 'Shares of BuzzFeed have plummeted roughly 92% since its initial public offering in 2021, though it remains above its record low closing price of 67 cents per share.', 'BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.', 'The company in February sold Complex Networks for $108.6 million, after purchasing it for $300 million three years ago, as part of its effort to slash costs while improving the company’s profitability.', 'BuzzFeed’s portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its “Hot Ones” YouTube series.', 'Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company’s headcount by 15%.']",0.2584419406030848,"Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing.",,0.2509956434369087,Shares of BuzzFeed gained more than 25% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company.,"BuzzFeed has struggled in recent years along with other digital publishers, battered by a softening advertising market, sinking social media referral traffic and the rise of artificial intelligence.",2024-05-22
+"Nissan delays shift to EVs at Mississippi factory, postponing some new models",https://edition.cnn.com/2024/05/21/cars/nissan-evs-mississippi-factory/index.html,"
+  Updated
+        5:03 PM EDT, Tue May 21, 2024
+    ","Nissan is postponing a push to build new electric vehicles at its Canton, Mississippi, factory as sales of EVs are now growing more slowly than many industry experts had expected.
+    
+            EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book. First quarter EV sales last year had outpaced 2022’s by a stunning 46.4%.
+    
+            Many in the industry had expected interest in EVs to accelerate, not slow down. But consumers are concerned about the high prices of EVs and worried about being able to charge them easily, according to the consumer survey company JD Power. These concerns have led to recent drops in customer consideration of EVs.
+    
+            Currently, Nissan sells two EV models in the US, the Leaf compact hatchback and the Ariya SUV, but had announced plans to build five new EV models in Canton including two originally scheduled for production in 2025. The new models were set to include both Nissan and Infiniti vehicles. Infiniti is Nissan’s luxury brand. Nissan is delaying plans to actually begin producing the vehicles in Mississippi.
+    
+            “We are adjusting the timeline for the introduction of these five new models to ensure we bring the vehicles to the market at the right time, prioritizing in line with customer demand and maximizing the opportunity for our brands and supplier partners,” Nissan said in a statement emailed to CNN.
+    
+            These latest delays were previously reported by the industry newspaper Automotive News.
+    
+            Nissan still plans to offer a total of 19 EV models globally by 2030, a spokesperson said.
+    
+            Nissan previously announced it would invest $500 million in the factory to prepare it build the new electric vehicles. The factory in Canton currently employs roughly 5,000 workers and makes the Nissan Altima sedan Frontier, Titan, and Titan XD pickups. 
+    
+            Other automakers have also made moves to slow production of new EVs and EV batteries citing concerns about slowing consumer adoption. Last year, GM slowed down a planned ramp up in production of its Silverado EV pickup. Ford also reduced the planned size of a factory it’s building to make EV batteries.",CNN,21/05/2024,"['Nissan is postponing a push to build new electric vehicles at its Canton, Mississippi, factory as sales of EVs are now growing more slowly than many industry experts had expected.', 'EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book.', 'First quarter EV sales last year had outpaced 2022’s by a stunning 46.4%.', 'Many in the industry had expected interest in EVs to accelerate, not slow down.', 'But consumers are concerned about the high prices of EVs and worried about being able to charge them easily, according to the consumer survey company JD Power.', 'These concerns have led to recent drops in customer consideration of EVs.', 'Currently, Nissan sells two EV models in the US, the Leaf compact hatchback and the Ariya SUV, but had announced plans to build five new EV models in Canton including two originally scheduled for production in 2025.', 'The new models were set to include both Nissan and Infiniti vehicles.', 'Infiniti is Nissan’s luxury brand.', 'Nissan is delaying plans to actually begin producing the vehicles in Mississippi.', '“We are adjusting the timeline for the introduction of these five new models to ensure we bring the vehicles to the market at the right time, prioritizing in line with customer demand and maximizing the opportunity for our brands and supplier partners,” Nissan said in a statement emailed to CNN.', 'These latest delays were previously reported by the industry newspaper Automotive News.', 'Nissan still plans to offer a total of 19 EV models globally by 2030, a spokesperson said.', 'Nissan previously announced it would invest $500 million in the factory to prepare it build the new electric vehicles.', 'The factory in Canton currently employs roughly 5,000 workers and makes the Nissan Altima sedan Frontier, Titan, and Titan XD pickups.', 'Other automakers have also made moves to slow production of new EVs and EV batteries citing concerns about slowing consumer adoption.', 'Last year, GM slowed down a planned ramp up in production of its Silverado EV pickup.', 'Ford also reduced the planned size of a factory it’s building to make EV batteries.']",0.1245977420979721,"The factory in Canton currently employs roughly 5,000 workers and makes the Nissan Altima sedan Frontier, Titan, and Titan XD pickups.",,0.0782069726423783,"EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book.",These concerns have led to recent drops in customer consideration of EVs.,2024-05-22
+FCC is considering AI rules for political ads,https://edition.cnn.com/2024/05/22/tech/fcc-weighs-ai-rules-political-ads/index.html,"
+  Updated
+        3:38 PM EDT, Wed May 22, 2024
+    ","The Federal Communications Commission is taking initial steps toward new rules that could require political ads on TV and radio to include disclaimers about the use of artificial intelligence.
+    
+            On Wednesday, FCC Chairwoman Jessica Rosenworcel called on other agency commissioners to support such regulations amid growing fears that AI-generated deepfakes could disrupt elections.
+    
+            “As artificial intelligence tools become more accessible, the Commission wants to make sure consumers are fully informed when the technology is used,” Rosenworcel said in a news release. “Today, I’ve shared with my colleagues a proposal that makes clear consumers have a right to know when AI tools are being used in the political ads they see, and I hope they swiftly act on this issue.”
+    
+            Wednesday’s proposal aims to open a rulemaking process at the FCC that would likely take months to play out.
+    
+            The proposal calls for new rules governing broadcast TV and radio, as well as cable and satellite providers. Under the proposed rules, political advertisers on those mediums would have to make on-air disclosures if their ads contain AI-generated content. The FCC does not regulate internet-based media such as streaming video services or social media.
+    
+            As part of the proposed rule, political advertisers would also have to provide written disclosures in the files that broadcasters are required to make available to the public.
+    
+            The FCC move seeks to fill a yawning gap in the regulation of artificial intelligence in political advertising.
+    
+            Existing US election law prohibits campaigns from “fraudulently misrepresenting other candidates or political parties,” but whether this prohibition extends to AI-generated content is an open question.
+    
+            Last summer, Republicans on the Federal Election Commission blocked a move that could have made clear the law extended to AI-created depictions; the FEC has since agreed to revive the discussion, but it has not reached a decision on the matter.
+    
+            In the meantime, some US lawmakers have proposed legislation that could clamp down on AI in elections. In March, a bipartisan proposal by Minnesota Democratic Sen. Amy Klobuchar and Alaska Republican Sen. Lisa Murkowski unveiled the AI Transparency in Elections Act, which could require AI disclaimers on political ads.
+    
+            Senate Majority Leader Chuck Schumer, a Democrat from New York, has stressed the urgent need for Congress to create guardrails for artificial intelligence, particularly for elections. Last week, he and a bipartisan group of senators released a blueprint for legislative action. But many policy analysts doubt that Congress can pass meaningful AI legislation during an election year.
+    
+            Online platforms such as Meta have taken their own steps to address AI in political ads, requiring campaigns to disclose the use of deepfakes and banning the use of its in-house generative AI tools for political advertising.",CNN,22/05/2024,"['The Federal Communications Commission is taking initial steps toward new rules that could require political ads on TV and radio to include disclaimers about the use of artificial intelligence.', 'On Wednesday, FCC Chairwoman Jessica Rosenworcel called on other agency commissioners to support such regulations amid growing fears that AI-generated deepfakes could disrupt elections.', '“As artificial intelligence tools become more accessible, the Commission wants to make sure consumers are fully informed when the technology is used,” Rosenworcel said in a news release.', '“Today, I’ve shared with my colleagues a proposal that makes clear consumers have a right to know when AI tools are being used in the political ads they see, and I hope they swiftly act on this issue.”', 'Wednesday’s proposal aims to open a rulemaking process at the FCC that would likely take months to play out.', 'The proposal calls for new rules governing broadcast TV and radio, as well as cable and satellite providers.', 'Under the proposed rules, political advertisers on those mediums would have to make on-air disclosures if their ads contain AI-generated content.', 'The FCC does not regulate internet-based media such as streaming video services or social media.', 'As part of the proposed rule, political advertisers would also have to provide written disclosures in the files that broadcasters arerequired to make availableto the public.', 'The FCC move seeks to filla yawning gapin the regulation of artificial intelligence in political advertising.', 'Existing US election law prohibits campaigns from “fraudulently misrepresenting other candidates or political parties,” but whether this prohibition extends to AI-generated content is an open question.', 'Last summer,Republicans on the Federal Election Commission blockeda move that could have made clear the law extended to AI-created depictions; the FEC has since agreed to revive the discussion, but it has not reached a decision on the matter.', 'In the meantime, some US lawmakers have proposed legislation that could clamp down on AI in elections.', 'In March, a bipartisan proposal by Minnesota Democratic Sen. Amy Klobuchar and Alaska Republican Sen. Lisa Murkowski unveiled theAI Transparency in Elections Act, which could require AI disclaimers on political ads.', 'Senate Majority Leader Chuck Schumer, a Democrat from New York, has stressed the urgent need for Congress to create guardrails for artificial intelligence, particularly for elections.', 'Last week, he and a bipartisan group of senatorsreleased a blueprintfor legislative action.', 'But manypolicy analysts doubtthat Congress can pass meaningful AI legislation during an election year.', 'Online platforms such as Meta have taken their own steps to address AI in political ads,requiring campaignsto disclose the use of deepfakes and banning the use of itsin-house generative AI toolsfor political advertising.']",0.284207734823922,"“Today, I’ve shared with my colleagues a proposal that makes clear consumers have a right to know when AI tools are being used in the political ads they see, and I hope they swiftly act on this issue.”",,-0.9524238705635072,,But manypolicy analysts doubtthat Congress can pass meaningful AI legislation during an election year.,2024-05-22
+Mercedes-Benz workers in Alabama vote against unionizing in blow to big UAW push,https://edition.cnn.com/2024/05/17/business/uaw-mercedes-benz-rejected/index.html,"
+  Updated
+        5:46 PM EDT, Fri May 17, 2024
+    ","Autoworkers at a Mercedes Benz plant in Alabama voted against joining the United Auto Workers union Friday, potentially stalling hopes of a rapidly growing organizing wave for autoworkers in the southern United States.
+    
+            The result was a close outcome. Out of the valid votes counted, 56% of workers voted “no,” while 44% voted “yes” for unionization, according to Mercedes-Benz. The National Labor Relations Board said Friday there were more than 5,000 eligible voters.
+    
+            The UAW was hoping to carry its strong momentum with the Alabama vote, as its decision to use a “stand up strike” strategy, hitting the Big Three automakers all at once, brought unprecedented attention and record contracts for workers. And last month, it won a union election at a Volkswagen plant in Chattanooga, Tennessee, its first victory in three attempts to organize the factory.
+    
+            Under relatively new UAW president Shawn Fain, the UAW had shifted its strategy for a membership push in non-unionized factories, many of which are located in the American South.
+    
+            In a March interview with Car and Driver, Fain said the profit margins for the Japanese, Korean and German automakers were “obscenely more gross than they were at the Big Three, and yet their workers get less.”
+    
+            “I truly believe we’re going to see a huge shift this year. I think we’re gonna win in the South,” he said in the interview.
+    
+            In a press conference Friday, however, Fain said that losses are part of the process and that the union will “carry on and keep on fighting.”
+    
+            “Not the result we wanted today, but I’m very proud of these workers. We keep our heads up and we march on,” Fain said.
+    
+            In an emailed statement Friday, Fain said the Alabama workers “won serious gains in this campaign.” Fain said they raised wages with the “UAW bump,” which is when non-union companies gave non-unionized employees raises to compete with union contracts. Mercedes-Benz also named a new Alabama CEO ahead of the election.
+    
+            Fain said Mercedes encouraged workers to give the new CEO a chance before elections.
+    
+            “That’s exactly what Volkswagen told its workers in 2019. And in 2024, Volkswagen workers realized it’s not about a CEO. It’s about a voice on the job, it’s about getting our lives back, and getting our time back. The only path to do that is through a union contract,” he wrote.
+    
+            In a statement, Mercedes-Benz US International said that “our goal throughout this process was to ensure every eligible Team Member had the opportunity to participate in a fair election.”
+    
+            “At MBUSI, our primary focus is always to provide a safe and supportive work environment for our Team Members, so they can build superior vehicles for the world. We look forward to continuing to work directly with our Team Members to ensure MBUSI is not only their employer of choice, but a place they would recommend to friends and family,” the statement continued.
+    
+            Six southern governors from Alabama, Georgia, Mississippi, South Carolina, Tennessee, and Texas issued a joint statement in April discouraging the union campaign, warning it could put workers’ jobs, as well as the auto industry in the South, in jeopardy. The statement came a day before workers at Volkswagen voted on joining the UAW.
+    
+            “The reality is companies have choices when it comes to where to invest and bring jobs and opportunity. We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. These jobs have become part of the fabric of the automotive manufacturing industry,” the statement said.
+    
+            In a statement Friday, Alabama Gov. Kay Ivey said that “automotive manufacturing is one of Alabama’s crown jewel industries” and that the state is “committed to keeping it that way.”
+    
+            “The workers in Vance have spoken, and they have spoken clearly! Alabama is not Michigan, and we are not the Sweet Home to the UAW,” Ivey said in the statement.
+    
+            Mercedes allegedly pushed back against unionization efforts in other ways, according to the UAW.
+    
+            The National Labor Relations Board said it is investigating six unfair labor practice allegations filed by the UAW against Mercedes-Benz since March. Those accusations from the UAW allege Mercedes disciplined employees for discussing unionization during work, prohibited distribution of union materials, surveilled employees, and forced employees to attend “captive audience meetings,” which is a mandatory meeting during work hours meant to discourage unionizing.
+    
+            Mercedes-Benz US International denied these claims, and said in a statement it “has not interfered with or retaliated against any Team Member in their right to pursue union representation.” It continued, “We do not believe these claims have merit and we look forward to presenting our case to the NLRB.”
+    
+            The UAW said it began an effort to organize workers at 13 non-union auto US factories in November 2023. The effort included three US-based electric vehicle makers — Tesla, Rivian and Lucid — as well as 10 foreign automakers that build cars in the US — BMW, Honda, Hyundai, Mazda, Mercedes, Nissan, Subaru, Toyota, Volkswagen, and Volvo.
+    
+            The South has been an attractive region for foreign automakers to open plants because of generous tax breaks and cheaper, non-union labor that generally doesn’t receive the wages or benefits won by unionized workers.
+    
+            But last month, hourly workers at Volkswagen’s plant in Chattanooga, Tennessee, overwhelmingly voted to join the UAW — 73% of the 3,600 workers at the plant who cast ballots had voted to join the union.
+    
+            The Chattanooga victory didn’t come easy for the UAW. Volkswagen didn’t win until its third union drive, said Art Wheaton, director of labor studies at Cornell University School of Industrial and Labor Relations’ Buffalo office. This was the Mercedes plant’s first strong push, and labor experts say a loss at Mercedes isn’t the end of the push to organize the South.
+    
+            “It’s not a catastrophe if they don’t win (the first time). Primarily because they’re facing a very active Mercedes Benz trying to block them from organizing, you got governors in the South trying to block them from organizing, and they don’t have the same track record or history or infrastructure in Alabama,” Wheaton said to CNN earlier this week.
+    
+            In a press conference Friday, Fain said the difference between Mercedes and Volkswagen was that “Volkswagen was more neutral.”
+    
+            “Until we can have an absolute, neutral, free and fair election… This is the fight we have to take on,” Fain said.
+    
+            There are about 150,000 workers at nonunion auto plants in the United States today. That’s roughly the same amount of workers represented at the Big Three.
+    
+            Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence. Meanwhile, the Midwest’s share has declined from 60% to 45%.
+    
+            “It’s not horrible if they lose, because it gives the UAW the chance to see where they’re at. They can gauge how much support they have,” Wheaton said.
+    
+            This story has been updated with additional developments and context.
+    
+            - CNN’s Chris Isidore and Nathaniel Meyersohn contributed to this report.",CNN,17/05/2024,"['Autoworkers at a Mercedes Benz plant in Alabama voted against joining the United Auto Workers union Friday, potentially stalling hopes of a rapidly growing organizing wave for autoworkers in the southern United States.', 'The result was a close outcome.', 'Out of the valid votes counted, 56% of workers voted ���no,” while 44% voted “yes” for unionization, according to Mercedes-Benz.', 'The National Labor Relations Board said Friday there were more than 5,000 eligible voters.', 'The UAW was hoping to carry its strong momentum with the Alabama vote, as its decision to use a“stand up strike” strategy,hitting the Big Three automakers all at once, brought unprecedented attention and record contracts for workers.', 'And last month, it won a union election at aVolkswagen plant in Chattanooga, Tennessee, its first victory in three attempts to organize the factory.', 'Under relatively new UAW president Shawn Fain, the UAW had shifted its strategy for a membership push in non-unionized factories, many of which are located in the American South.', 'In a March interview with Car and Driver, Fain said the profit margins for the Japanese, Korean and German automakerswere “obscenely more gross than they were at the Big Three, and yet their workers get less.”', '“I truly believe we’re going to see a huge shift this year.', 'I think we’re gonna win in the South,”he said in the interview.', 'In a press conference Friday, however, Fain said that losses are part of the process and that the union will “carry on and keep on fighting.”', '“Not the result we wanted today, but I’m very proud of these workers.', 'We keep our heads up and we march on,” Fain said.', 'In an emailed statement Friday, Fain said the Alabama workers “won serious gains in this campaign.”', 'Fain said they raised wages with the “UAW bump,” which is when non-union companies gave non-unionized employees raises to compete with union contracts.', 'Mercedes-Benz also named a new Alabama CEO ahead of the election.', 'Fain said Mercedes encouraged workers to give the new CEO a chance before elections.', '“That’s exactly what Volkswagen told its workers in 2019.', 'And in 2024, Volkswagen workers realized it’s not about a CEO.', 'It’s about a voice on the job, it’s about getting our lives back, and getting our time back.', 'The only path to do that is through a union contract,” he wrote.', 'In a statement, Mercedes-Benz US International said that “our goal throughout this process was to ensure every eligible Team Member had the opportunity to participate in a fair election.”', '“At MBUSI, our primary focus is always to provide a safe and supportive work environment for our Team Members, so they can build superior vehicles for the world.', 'We look forward to continuing to work directly with our Team Members to ensure MBUSI is not only their employer of choice, but a place they would recommend to friends and family,” the statement continued.', 'Six southern governors from Alabama, Georgia, Mississippi, South Carolina, Tennessee, and Texas issueda joint statement in April discouraging the union campaign, warning it could put workers’ jobs, as well as the auto industry in the South, in jeopardy.', 'The statement came a day before workers at Volkswagen voted on joining the UAW.', '“The reality is companies have choices when it comes to where to invest and bring jobs and opportunity.', 'We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states.', 'These jobs have become part of the fabric of the automotive manufacturing industry,” the statementsaid.', 'In a statement Friday, Alabama Gov. Kay Ivey said that “automotive manufacturing is one of Alabama’s crown jewel industries” and that the state is “committed to keeping it that way.”', '“The workers in Vance have spoken, and they have spoken clearly!', 'Alabama is not Michigan, and we are not the Sweet Home to the UAW,” Ivey said in the statement.', 'Mercedes allegedly pushed back against unionization efforts in other ways, according to the UAW.', 'The National Labor Relations Board said it is investigating six unfair labor practice allegations filed by the UAW against Mercedes-Benz since March.', 'Those accusations from the UAW allege Mercedes disciplined employees for discussing unionization during work, prohibited distribution of union materials, surveilled employees, and forced employees to attend “captive audience meetings,” which is a mandatory meeting during work hours meant to discourage unionizing.', 'Mercedes-Benz US International denied these claims, and said in a statement it “has not interfered with or retaliated against any Team Member in their right to pursue union representation.”', 'It continued, “We do not believe these claims have merit and we look forward to presenting our case to the NLRB.”', 'The UAWsaid it began an effort to organize workers at 13 non-union auto US factories in November 2023.', 'The effort included three US-based electric vehicle makers — Tesla, Rivian and Lucid — as well as 10 foreign automakers that build cars in the US — BMW, Honda, Hyundai, Mazda, Mercedes, Nissan, Subaru, Toyota, Volkswagen, and Volvo.', 'The South has been an attractive region for foreign automakers to open plants because of generous tax breaks and cheaper, non-union labor that generally doesn’t receive the wages or benefits won by unionized workers.', 'But last month, hourly workers at Volkswagen’s plant in Chattanooga, Tennessee, overwhelmingly voted to join the UAW — 73% of the 3,600 workers at the plant who cast ballots had voted to join the union.', 'The Chattanooga victory didn’t come easy for the UAW.', 'Volkswagen didn’t win until its third union drive, said Art Wheaton, director of labor studies atCornell University School of Industrial and Labor Relations’ Buffalo office.', 'This was the Mercedes plant’s first strong push, and labor experts say a loss at Mercedes isn’t the end of the push to organize the South.', '“It’s not a catastrophe if they don’t win (the first time).', 'Primarily because they’re facing a very active Mercedes Benz trying to block them from organizing, you got governors in the South trying to block them from organizing, and they don’t have the same track record or history or infrastructure in Alabama,” Wheaton said to CNN earlier this week.', 'In a press conference Friday, Fain said the difference between Mercedes and Volkswagen was that “Volkswagen was more neutral.”', '“Until we can have an absolute, neutral, free and fair election… This is the fight we have to take on,” Fain said.', 'There are about 150,000 workers at nonunion auto plants in the United States today.', 'That’s roughly the same amount of workers represented at the Big Three.', 'Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence.', 'Meanwhile, the Midwest’s share has declined from 60% to 45%.', '“It’s not horrible if they lose, because it gives the UAWthe chance to see where they’re at.', 'They can gauge how much support they have,” Wheaton said.', 'This story has been updated with additional developments and context.', '- CNN’s Chris Isidore and Nathaniel Meyersohn contributed to this report.']",0.2225766872777374,"The South has been an attractive region for foreign automakers to open plants because of generous tax breaks and cheaper, non-union labor that generally doesn’t receive the wages or benefits won by unionized workers.","Those accusations from the UAW allege Mercedes disciplined employees for discussing unionization during work, prohibited distribution of union materials, surveilled employees, and forced employees to attend “captive audience meetings,” which is a mandatory meeting during work hours meant to discourage unionizing.",0.5178182306496993,"Since 1990, the South’s share of auto jobs has doubled from around 15% to 30% today, according to S&P Global Market Intelligence.","Meanwhile, the Midwest’s share has declined from 60% to 45%.",2024-05-22
+Sam Bankman-Fried is being moved to a new prison,https://edition.cnn.com/2024/05/22/business/sam-bankman-fried-new-prison/index.html,"
+  Published
+        1:06 PM EDT, Wed May 22, 2024
+    ","Prison officials began transferring former crypto mogul Sam Bankman-Fried to a new facility early Wednesday, removing him from the Brooklyn, New York, jail where he’s resided for the past nine months, a spokesperson for Bankman-Fried said.
+    
+            It wasn’t immediately clear where he was being transferred, but the spokesperson said Bankman-Fried told people close to him that he believes he is going to Mendota, California, a two-and-a-half-hour drive from his parents’ home near the Stanford University campus.
+    
+            Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website.
+    
+            Bankman-Fried had sought to stay in New York in the near term while preparing his appeal on multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison.
+    
+            A jury last fall found Bankman-Fried guilty of carrying out what prosecutors called one of the biggest financial crimes in US history. He was convicted of stealing billions of dollars from customers of his once high-flying cryptocurrency exchange, FTX, which collapsed into bankruptcy in late 2022.
+    
+            The Bureau of Prisons declined to provide details, telling CNN that it doesn’t comment on “the conditions of confinement for any individual, including potential transfers,” citing security concerns.
+    
+            —CNN’s Erin Burnett and Sabrina Souza contributed reporting.",CNN,22/05/2024,"['Prison officials began transferring former crypto mogul Sam Bankman-Fried to a new facility early Wednesday, removing him from the Brooklyn, New York, jail where he’s resided for the past nine months, a spokesperson for Bankman-Fried said.', 'It wasn’t immediately clear where he was being transferred, but the spokesperson said Bankman-Fried told people close to him that he believes he is going to Mendota, California, a two-and-a-half-hour drive from his parents’ home near the Stanford University campus.', 'Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website.', 'Bankman-Fried had sought to stay in New York in the near term while preparing his appeal on multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison.', 'A jury last fall found Bankman-Fried guilty of carrying out what prosecutors called one of the biggest financial crimes in US history.', 'He was convicted of stealing billions of dollars from customers of his once high-flying cryptocurrency exchange, FTX, which collapsed into bankruptcy in late 2022.', 'The Bureau of Prisons declined to provide details, telling CNN that it doesn’t comment on “the conditions of confinement for any individual, including potential transfers,” citing security concerns.', '—CNN’s Erin Burnett and Sabrina Souza contributed reporting.']",-0.1744097497607738,"Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website.","Bankman-Fried had sought to stay in New York in the near term while preparing his appeal on multiple federal counts of fraud and conspiracy, for which he was sentenced in March to 25 years in prison.",-0.8470712900161743,,"He was convicted of stealing billions of dollars from customers of his once high-flying cryptocurrency exchange, FTX, which collapsed into bankruptcy in late 2022.",2024-05-22
+"Why is Slough, near London, Europe's largest data centre hub?",https://www.bbc.co.uk/news/articles/cyrl7nlnkjpo,2024-05-21T05:21:22.787Z,"The town of Slough in Berkshire, just outside London, has had a terrible press over the years.  Many will put that down to the British sitcom The Office, yet even before that in 1937 the poet John Betjeman wrote ""Come friendly bombs and fall on Slough!"". But that is perhaps changing.  With its direct transport links to London, close proximity to Heathrow Airport and fast fibre optic connections, it is said to be perfectly placed for a hi-tech revolution. According to the Slough and South Bucks Observer, the town has ""Europe’s largest collection of data centres"", with 34 currently based there and more on the way.  Demand for data centres has been growing ever since the internet took off. According to the local newspaper, Slough, which is just outside the M25 and is less than 10 miles away from Heathrow, welcomed its first data centre in 2005. Slough Trading Estate is now considered to be the largest data centre hub in Europe. For those who don't know, these data centres are where pretty much anything on your phone or computer is stored - the Cloud, websites, social media, pictures, music and more.  Many of London's banks and emergency services use Slough's data centres. But this is a secretive and highly sensitive world where security is not unsurprisingly paramount. Many data centres do not want media attention and politely declined our requests to go inside them.  Even the actual number of data centres in Slough is difficult to pin down. Slough Borough Council says there is ""no definitive record source"" to identify the number of data centres in the borough but it is estimated to be about 30 to 35.  So when we were invited in by Virgin Media O2, it was a rare opportunity to see inside a data centre. Tom Finch, a technical site engineer who works in the data centre, says the site is O2's largest mobile data centre in the UK and manages traffic for 3G, 4G and 5G customers.  ""You have voice calls, you have texts, you have all of your social media platforms like WhatsApp. Everything you operate on your cellular data on your mobile phone will pass through this data centre,"" he says. He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""Slough is on the data highway in the UK. It's far enough outside the capital but through here we have a lot of traffic passing,"" he says. Dan Goodenough, the technical site operations manager, says they have to predict when people want data and demand has gone up since the pandemic. He says they see ""surges in traffic demand, but also the types of traffic"".  ""For example it's home working but it's also online gaming, virtual reality, there's different types of traffic that go across our network today than there was 10 years ago,"" he says. ""The most recent Fortnite download for example, we saw massive peaks in the amount of data our customers were downloading. And that's why we invest £10bn in infrastructure to make sure we can provide the best service."" So why Slough?  According to the website datacenters.com, the advantages of Slough are its strategic location with excellent transport links to London.  The proximity of Heathrow is also an advantage. It says the Slough data centre market offers a number of size facilities to allow expansion.  And Slough also has very robust and fast fibre optic broadband connectivity. It is situated on the main fibre optic line between London and the US. The borough council says being on the main cabling running out of London to Ireland and the US is an advantage.  It says it was the capital's banks that helped create this data centre hub. ""Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says.  ""Co-location is an advantage for data centres, so the existing cluster attracts further interest.""  However, data centres are resource hungry and use a lot of electricity to keep the servers cool and the internet running.  They also use a lot of water for cooling. In the 2022 drought, Thames Water looked at how much water data centres in the area were using.  National Grid's chief executive, John Pettigrew, has previously said that the power data centres use would increase six-fold in the next decade. He said the grid was becoming ""constrained"" and ""bold action"" was needed to create a network able to cope with ""dramatically"" growing demand. According to the website datacenters.com, sustainable energy is a goal in Slough. ""The International Energy Agency reports that hyperscale data centres, which are prevalent in Slough, have accounted for a substantial increase in energy demand globally,"" it says. ""This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""  On the site, Virgin O2 also monitors its phone mast network and its broadband. Emma Fish, the regional operations manager, says data centres are key in the world today and Slough provides the ideal base. ""I think people do realise now how important broadband is,"" she says.  ""I think people class it as a fourth utility. When you buy a house, it's the first thing you look at really to see how fast the broadband is and how reliable it is and I think we depend on it more so now than we have ever done."" ""I think Slough is a key location. Just off the M4, just outside London, I just think Slough is the perfect location for data centres,"" she adds. Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram. Send your story ideas to hello.bbclondon@bbc.co.uk ",BBC,21/05/2024,"['The town of Slough in Berkshire, just outside London, has had a terrible press over the years.', 'Many will put that down to the British sitcom The Office, yet even before that in 1937 the poet John Betjeman wrote ""Come friendly bombs and fall on Slough!"".', 'But that is perhaps changing.', 'With its direct transport links to London, close proximity to Heathrow Airport and fast fibre optic connections, it is said to be perfectly placed for a hi-tech revolution.', 'According to the Slough and South Bucks Observer, the town has ""Europe’s largest collection of data centres"", with 34 currently based there and more on the way.', 'Demand for data centres has been growing ever since the internet took off.', 'According to the local newspaper, Slough, which is just outside the M25 and is less than 10 miles away from Heathrow, welcomed its first data centre in 2005.', 'Slough Trading Estate is now considered to be the largest data centre hub in Europe.', ""For those who don't know, these data centres are where pretty much anything on your phone or computer is stored - the Cloud, websites, social media, pictures, music and more."", ""Many of London's banks and emergency services use Slough's data centres."", 'But this is a secretive and highly sensitive world where security is not unsurprisingly paramount.', 'Many data centres do not want media attention and politely declined our requests to go inside them.', 'Even the actual number of data centres in Slough is difficult to pin down.', 'Slough Borough Council says there is ""no definitive record source"" to identify the number of data centres in the borough but it is estimated to be about 30 to 35.', 'So when we were invited in by Virgin Media O2, it was a rare opportunity to see inside a data centre.', 'Tom Finch, a technical site engineer who works in the data centre, says the site is O2\'s largest mobile data centre in the UK and manages traffic for 3G, 4G and 5G customers. ""', 'You have voice calls, you have texts, you have all of your social media platforms like WhatsApp.', 'Everything you operate on your cellular data on your mobile phone will pass through this data centre,"" he says.', 'He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""', 'Slough is on the data highway in the UK.', 'It\'s far enough outside the capital but through here we have a lot of traffic passing,"" he says.', 'Dan Goodenough, the technical site operations manager, says they have to predict when people want data and demand has gone up since the pandemic.', 'He says they see ""surges in traffic demand, but also the types of traffic"". ""', 'For example it\'s home working but it\'s also online gaming, virtual reality, there\'s different types of traffic that go across our network today than there was 10 years ago,"" he says. ""', 'The most recent Fortnite download for example, we saw massive peaks in the amount of data our customers were downloading.', 'And that\'s why we invest £10bn in infrastructure to make sure we can provide the best service.""', 'So why Slough?', 'According to the website datacenters.com, the advantages of Slough are its strategic location with excellent transport links to London.', 'The proximity of Heathrow is also an advantage.', 'It says the Slough data centre market offers a number of size facilities to allow expansion.', 'And Slough also has very robust and fast fibre optic broadband connectivity.', 'It is situated on the main fibre optic line between London and the US.', 'The borough council says being on the main cabling running out of London to Ireland and the US is an advantage.', 'It says it was the capital\'s banks that helped create this data centre hub. ""', 'Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says. ""', 'Co-location is an advantage for data centres, so the existing cluster attracts further interest.""', 'However, data centres are resource hungry and use a lot of electricity to keep the servers cool and the internet running.', 'They also use a lot of water for cooling.', 'In the 2022 drought, Thames Water looked at how much water data centres in the area were using.', ""National Grid's chief executive, John Pettigrew, has previously said that the power data centres use would increase six-fold in the next decade."", 'He said the grid was becoming ""constrained"" and ""bold action"" was needed to create a network able to cope with ""dramatically"" growing demand.', 'According to the website datacenters.com, sustainable energy is a goal in Slough. ""', 'The International Energy Agency reports that hyperscale data centres, which are prevalent in Slough, have accounted for a substantial increase in energy demand globally,"" it says. ""', 'This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""', 'On the site, Virgin O2 also monitors its phone mast network and its broadband.', 'Emma Fish, the regional operations manager, says data centres are key in the world today and Slough provides the ideal base. ""', 'I think people do realise now how important broadband is,"" she says. ""', 'I think people class it as a fourth utility.', 'When you buy a house, it\'s the first thing you look at really to see how fast the broadband is and how reliable it is and I think we depend on it more so now than we have ever done."" ""', 'I think Slough is a key location.', 'Just off the M4, just outside London, I just think Slough is the perfect location for data centres,"" she adds.', 'Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram.', 'Send your story ideas to hello.bbclondon@bbc.co.uk']",0.1964139971947754,"This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""","Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says. """,0.7485351525247097,"He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""","The town of Slough in Berkshire, just outside London, has had a terrible press over the years.",2024-05-22
+"Rates should be cut to 3.5% by end of 2025, IMF says",https://www.bbc.co.uk/news/articles/cldd6x6gglxo,2024-05-21T10:16:27.932Z,"UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended. Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%. The IMF's comments came as it upgraded its UK's growth forecast for 2024, but it it advised against any further tax cuts. Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"". Mr Hunt added that the IMF had ""forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects"". Labour’s shadow chief secretary Darren Jones said the Conservatives had left the country in ""economic chaos"".  ""Millions of people are paying more on their mortgages, prices are still rising in the shops and the UK economy has been rocked by a mini-budget that left working families worse off,"" he said. Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country's finances, bringing public services to their knees"". The IMF is an international organisation with 190 member countries, including the UK. They work together to try to stabilise the global economy. One of the Fund's jobs is to advise its members on how to improve their economies. The IMF said the UK's economy was ""approaching a soft landing” after last year's mild recession. It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025. While UK inflation, the rate at which prices increase, is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the year, before “durably” settling at the target rate in early 2025, the Fund said. When it came to interest rate cuts, the IMF noted the Bank had to balance the risk of not cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth.  But speaking at a news conference, Ali Abbas, the IMF UK mission chief, said the Fund recommended cutting the current Bank rate of 5.25% to either 4.75% or 4.5% by the end of the year. It also recommended further cuts in 2025, taking the rate as low as 3.5%. “Our recommendation is for 50-75 basis points [0.5-0.75% points] this year, plus we project and this is also this is our recommendation of 100 basis points [1% point] cuts in 2025,"" Mr Abbas said. The IMF warned the next government faced “difficult choices” on taxes and spending, and said it would not have recommended the recent cuts to National Insurance ""given their significant cost"". The Fund assumes that the government will have to spend significantly more on public services over the next five years, meaning that its self-imposed target for falling debt as a share of national income will not be met. This leads to a gap of about 1% of UK gross domestic product (GDP), or £30bn a year. Given the state of the public finances, the IMF said it would ""advise against additional tax cuts"". In January, the Fund had also advised against tax cuts but the government announced another cut to National Insurance in the March Budget.   IMF managing director Kristalina Georgieva told a news conference that the UK needed to bolster its public finances, which were hit by heavy spending during the Covid pandemic. ""We are genuinely concerned, not just for the UK, [but] for all countries that have used fiscal buffers extensively, that they must do more to rebuild these buffers,"" she said. ""In a world of more uncertainty, we do not know when there may be again a call on governments to have to borrow more to spend more."" The report’s key long-term concern was a lack of workers arising from long-term illness and fewer foreign workers. It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates. The IMF suggests extra tax revenue from road usage, VAT, inheritance and property should be required. It also advises the end of the triple lock on the state pension - a government promise to raise it by the rate of earnings, inflation or 2.5%, whichever is highest - and instead pegging increases to inflation alone. The IMF also pointedly advised the government to “stay the course on climate policy”, after recent delays to net zero policy timetables, for example, on electric cars. The annual report is the conclusion of a team of IMF economists who have spent months meeting policymakers and businesses as part of what is known as the Article IV process. But economic forecasters are not always right with their predictions and the IMF and UK government have disagreed in the past over previous projections. ",BBC,21/05/2024,"['UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended.', 'Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%.', ""The IMF's comments came as it upgraded its UK's growth forecast for 2024, but it it advised against any further tax cuts."", 'Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"".', 'Mr Hunt added that the IMF had ""forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects"".', 'Labour’s shadow chief secretary Darren Jones said the Conservatives had left the country in ""economic chaos"". ""', 'Millions of people are paying more on their mortgages, prices are still rising in the shops and the UK economy has been rocked by a mini-budget that left working families worse off,"" he said.', 'Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country\'s finances, bringing public services to their knees"".', 'The IMF is an international organisation with 190 member countries, including the UK.', 'They work together to try to stabilise the global economy.', ""One of the Fund's jobs is to advise its members on how to improve their economies."", 'The IMF said the UK\'s economy was ""approaching a soft landing” after last year\'s mild recession.', 'It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025.', ""While UK inflation, the rate at which prices increase, is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the year, before “durably” settling at the target rate in early 2025, the Fund said."", 'When it came to interest rate cuts, the IMF noted the Bank had to balance the risk of not cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth.', 'But speaking at a news conference, Ali Abbas, the IMF UK mission chief, said the Fund recommended cutting the current Bank rate of 5.25% to either 4.75% or 4.5% by the end of the year.', 'It also recommended further cuts in 2025, taking the rate as low as 3.5%. “', 'Our recommendation is for 50-75 basis points [0.5-0.75% points] this year, plus we project and this is also this is our recommendation of 100 basis points [1% point] cuts in 2025,"" Mr Abbas said.', 'The IMF warned the next government faced “difficult choices” on taxes and spending, and said it would not have recommended the recent cuts to National Insurance ""given their significant cost"".', 'The Fund assumes that the government will have to spend significantly more on public services over the next five years, meaning that its self-imposed target for falling debt as a share of national income will not be met.', 'This leads to a gap of about 1% of UK gross domestic product (GDP), or £30bn a year.', 'Given the state of the public finances, the IMF said it would ""advise against additional tax cuts"".', 'In January, the Fund had also advised against tax cuts but the government announced another cut to National Insurance in the March Budget.', 'IMF managing director Kristalina Georgieva told a news conference that the UK needed to bolster its public finances, which were hit by heavy spending during the Covid pandemic. ""', 'We are genuinely concerned, not just for the UK, [but] for all countries that have used fiscal buffers extensively, that they must do more to rebuild these buffers,"" she said. ""', 'In a world of more uncertainty, we do not know when there may be again a call on governments to have to borrow more to spend more.""', 'The report’s key long-term concern was a lack of workers arising from long-term illness and fewer foreign workers.', 'It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates.', 'The IMF suggests extra tax revenue from road usage, VAT, inheritance and property should be required.', 'It also advises the end of the triple lock on the state pension - a government promise to raise it by the rate of earnings, inflation or 2.5%, whichever is highest - and instead pegging increases to inflation alone.', 'The IMF also pointedly advised the government to “stay the course on climate policy”, after recent delays to net zero policy timetables, for example, on electric cars.', 'The annual report is the conclusion of a team of IMF economists who have spent months meeting policymakers and businesses as part of what is known as the Article IV process.', 'But economic forecasters are not always right with their predictions and the IMF and UK government have disagreed in the past over previous projections.']",-0.123904855719287,"Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"".","It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates.",0.0678097248077392,"It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025.","Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country's finances, bringing public services to their knees"".",2024-05-22
+How can countries deal with falling birth rates?,https://www.bbc.co.uk/news/articles/c72p2vgd21no,2024-05-20T01:28:50.337Z,"The first thing you need to know about the so-called demographic timebomb facing countries such as the UK and US is to never call it that. With birth rates continuing to decline in both nations, it is tempting to use the timebomb term. However, it is greatly disliked by demographers, the experts that study population change. “Number one, I hate the phrase,” says Sarah Harper, professor of gerontology (the study of the impact of aging) at the University of Oxford. “I do not think there is a demographic timebomb, it is part of the demographic transition. We knew this was going to happen, and happen across the 21st Century. So, it is not unexpected, and we should have been preparing for this for some time.” However, the scale of the future problem is immense. For a country in the developed world to increase or maintain its population it needs a birth rate of 2.1 children per woman on average. This is known as the “replacement rate”. Yet the latest figures for England and Wales show that the average birth rate, also called the total fertility rate, declined to 1.49 children per woman in 2022, from 1.55 in 2021. The rate has been falling since 2010. It is a similar picture in Scotland and Northern Ireland, which record their data separately. Meanwhile, in the US the fertility rate fell last year to 1.62, a record low. Back in 1960 it was 3.65. “In fact, two thirds of the world’s countries now have childbirth rates below the replacement rate,” adds Prof Harper. “Japan is low, China is low, South Korea is the lowest in the world.” Population growth is really only limited to sub-Saharan Africa these days. But why the concern about falling birth rates? The economic problems they can cause are significant, as countries face the impact of both aging and declining populations, and a smaller workforce in relation to the number of pensioners. For example – where will a nation’s economic growth come from if companies cannot recruit enough workers? And how can a smaller workforce afford to pay for the pensions of a much larger retired population? Those are questions that make government economists wince. To try to increase birth rates, countries can make it easier for women to have children, by providing more generous childcare provision, such as tax breaks and extended, fully-paid maternity leave. In addition, companies could be compelled to offer new mums and dads more flexible working hours, and provide workplace creches. However, while such policies might slow the decline, they rarely reverse it. Put simply, the more women are educated, the more they work and save, the better their lives are. Many women would instead prefer not to take the hit to their earnings and career prospects that becoming a mother often causes. So they have fewer children, or none at all. There are basically two main ways in which a country can deal with a falling birth rate – you can keep your population heathier and employed for longer, or you can have large-scale immigration. Singapore is one of the fastest-ageing countries in the world, and it is going for the first option. “There is a lot of effort being put into raising the retirement age, training in middle life, and encouraging companies - which have to offer you re-employment up to the age of 69 - to hire older workers,” says Prof Angelique Chan. She is the inaugural executive director of Singapore’s Centre for Ageing Research & Education. By re-employment, Prof Chan means elderly workers being able to stay in work after they have reached retirement age, if they so wish. Currently the retirement age in Singapore is 63, but this is due to rise to 64 in 2026, and to 65 by 2030. By that year the age to which people in re-employment can stay in work is expected to have risen to 70. Prof Chan says that the Singaporean government is also increasing efforts to ensure that every citizen has a doctor “who must take care of you and monitor your condition, and make sure we have heathier cohorts who can continue to work”. She adds that Singapore is spending a huge amount of money “so we have the healthiest kind of population, giving people the opportunity to work [in their old age]”. In the US, Ronald Lee, emeritus professor of economics at the University of California, says that a growing number of elderly Americans are having to work to cover their living expenses. “If we look at the proportion of consumption of 65-year-olds and older in the USA that is funded by continuing to work, it is significantly higher than in other developed countries,” he says. Prof Lee adds that this is not a bad thing. “I think it is fundamental for the whole world, to get over the idea that older people are entitled to an indefinitely long period of leisure at the end of their life. “People are healthier, vigorous, cognitively sharper, and ready to go on at much older ages than used to be the case. I hope to see retirement ages rising well into the 70’s.” Currently, Americans only get a full social security pension from 66 years and two months. But that will gradually rise to 67. Prof Lee’s thoughts may not be very popular with many people, but economically it looks inevitable. As life expectancy increases it becomes increasingly difficult to afford ever longer retirements. Something has to give, and working longer is the obvious solution. There is, however, another answer to this problem, as Prof Harper makes clear - increased immigration. Yet this is obviously a hot political potato on both sides of the Atlantic. “Migration could easily solve the problem of lower birth rates from a demographic point of view,” she says. “There are political and policy issues, but demographically what we should be doing is allowing those countries with huge child-bearing rates, and with huge numbers of workers for maybe the next four decades, to be able to flow across the world and make up the slack.” We all know there are huge pressures against large-scale immigration, although even populist regimes often turn a blind eye to it when necessary. Elizabeth Kuiper, associate director of the European Policy Centre think tank, says Hungary is a case in point. Its government claims to have a zero-tolerance attitude to migrants, but “we know that while these countries will not admit it publicly, in sectors like care and health care they have developed unspoken strategies for selective migration”. The problem is, of course, that in most of the developed world immigration is nowhere near the level necessary to make up for an aging population, and yet it is already deeply unpopular. The demographic experts know something has to give – countries will need to make people work longer, or increase immigration, and probably both. But to do that needs political consensus, and politicians know that asking people to approve additional immigration, and the need to work for more years in later life, is not a vote winner.  Have the wheels come off for Tesla? The rise of Sweden's super rich Why US economy is powering ahead of Europe's How Chinese firms are using Mexico as a backdoor to the US Ibiza locals living in cars as party island sees rents soar ",BBC,20/05/2024,"['The first thing you need to know about the so-called demographic timebomb facing countries such as the UK and US is to never call it that.', 'With birth rates continuing to decline in both nations, it is tempting to use the timebomb term.', 'However, it is greatly disliked by demographers, the experts that study population change. “', 'Number one, I hate the phrase,” says Sarah Harper, professor of gerontology (the study of the impact of aging) at the University of Oxford. “', 'I do not think there is a demographic timebomb, it is part of the demographic transition.', 'We knew this was going to happen, and happen across the 21st Century.', 'So, it is not unexpected, and we should have been preparing for this for some time.”', 'However, the scale of the future problem is immense.', 'For a country in the developed world to increase or maintain its population it needs a birth rate of 2.1 children per woman on average.', 'This is known as the “replacement rate”.', 'Yet the latest figures for England and Wales show that the average birth rate, also called the total fertility rate, declined to 1.49 children per woman in 2022, from 1.55 in 2021.', 'The rate has been falling since 2010.', 'It is a similar picture in Scotland and Northern Ireland, which record their data separately.', 'Meanwhile, in the US the fertility rate fell last year to 1.62, a record low.', 'Back in 1960 it was 3.65. “', 'In fact, two thirds of the world’s countries now have childbirth rates below the replacement rate,” adds Prof Harper. “', 'Japan is low, China is low, South Korea is the lowest in the world.”', 'Population growth is really only limited to sub-Saharan Africa these days.', 'But why the concern about falling birth rates?', 'The economic problems they can cause are significant, as countries face the impact of both aging and declining populations, and a smaller workforce in relation to the number of pensioners.', 'For example – where will a nation’s economic growth come from if companies cannot recruit enough workers?', 'And how can a smaller workforce afford to pay for the pensions of a much larger retired population?', 'Those are questions that make government economists wince.', 'To try to increase birth rates, countries can make it easier for women to have children, by providing more generous childcare provision, such as tax breaks and extended, fully-paid maternity leave.', 'In addition, companies could be compelled to offer new mums and dads more flexible working hours, and provide workplace creches.', 'However, while such policies might slow the decline, they rarely reverse it.', 'Put simply, the more women are educated, the more they work and save, the better their lives are.', 'Many women would instead prefer not to take the hit to their earnings and career prospects that becoming a mother often causes.', 'So they have fewer children, or none at all.', 'There are basically two main ways in which a country can deal with a falling birth rate – you can keep your population heathier and employed for longer, or you can have large-scale immigration.', 'Singapore is one of the fastest-ageing countries in the world, and it is going for the first option. “', 'There is a lot of effort being put into raising the retirement age, training in middle life, and encouraging companies - which have to offer you re-employment up to the age of 69 - to hire older workers,” says Prof Angelique Chan.', 'She is the inaugural executive director of Singapore’s Centre for Ageing Research & Education.', 'By re-employment, Prof Chan means elderly workers being able to stay in work after they have reached retirement age, if they so wish.', 'Currently the retirement age in Singapore is 63, but this is due to rise to 64 in 2026, and to 65 by 2030.', 'By that year the age to which people in re-employment can stay in work is expected to have risen to 70.', 'Prof Chan says that the Singaporean government is also increasing efforts to ensure that every citizen has a doctor “who must take care of you and monitor your condition, and make sure we have heathier cohorts who can continue to work”.', 'She adds that Singapore is spending a huge amount of money “so we have the healthiest kind of population, giving people the opportunity to work [in their old age]”.', 'In the US, Ronald Lee, emeritus professor of economics at the University of California, says that a growing number of elderly Americans are having to work to cover their living expenses. “', 'If we look at the proportion of consumption of 65-year-olds and older in the USA that is funded by continuing to work, it is significantly higher than in other developed countries,” he says.', 'Prof Lee adds that this is not a bad thing. “', 'I think it is fundamental for the whole world, to get over the idea that older people are entitled to an indefinitely long period of leisure at the end of their life. “', 'People are healthier, vigorous, cognitively sharper, and ready to go on at much older ages than used to be the case.', 'I hope to see retirement ages rising well into the 70’s.”', 'Currently, Americans only get a full social security pension from 66 years and two months.', 'But that will gradually rise to 67.', 'Prof Lee’s thoughts may not be very popular with many people, but economically it looks inevitable.', 'As life expectancy increases it becomes increasingly difficult to afford ever longer retirements.', 'Something has to give, and working longer is the obvious solution.', 'There is, however, another answer to this problem, as Prof Harper makes clear - increased immigration.', 'Yet this is obviously a hot political potato on both sides of the Atlantic. “', 'Migration could easily solve the problem of lower birth rates from a demographic point of view,” she says. “', 'There are political and policy issues, but demographically what we should be doing is allowing those countries with huge child-bearing rates, and with huge numbers of workers for maybe the next four decades, to be able to flow across the world and make up the slack.”', 'We all know there are huge pressures against large-scale immigration, although even populist regimes often turn a blind eye to it when necessary.', 'Elizabeth Kuiper, associate director of the European Policy Centre think tank, says Hungary is a case in point.', 'Its government claims to have a zero-tolerance attitude to migrants, but “we know that while these countries will not admit it publicly, in sectors like care and health care they have developed unspoken strategies for selective migration”.', 'The problem is, of course, that in most of the developed world immigration is nowhere near the level necessary to make up for an aging population, and yet it is already deeply unpopular.', 'The demographic experts know something has to give – countries will need to make people work longer, or increase immigration, and probably both.', 'But to do that needs political consensus, and politicians know that asking people to approve additional immigration, and the need to work for more years in later life, is not a vote winner.', 'Have the wheels come off for Tesla?', ""The rise of Sweden's super rich Why US economy is powering ahead of Europe's How Chinese firms are using Mexico as a backdoor to the US Ibiza locals living in cars as party island sees rents soar""]",0.0991835909144296,"Its government claims to have a zero-tolerance attitude to migrants, but “we know that while these countries will not admit it publicly, in sectors like care and health care they have developed unspoken strategies for selective migration”.","Japan is low, China is low, South Korea is the lowest in the world.”",0.0011644137316736,By that year the age to which people in re-employment can stay in work is expected to have risen to 70.,"Meanwhile, in the US the fertility rate fell last year to 1.62, a record low.",2024-05-22
+UK inflation rate falls to lowest in almost three years,https://www.bbc.co.uk/news/articles/c511m7jgyl3o,2024-05-22T06:05:12.397Z,"Falling gas and electricity prices have driven UK inflation to its lowest level in almost three years. Prices rose at 2.3% in the year to April, down from 3.2% the month before, official figures show. While inflation, which measures the rate of price increases over time, has fallen further, it remains higher than the Bank of England's target of 2% and was slightly higher than experts expected. But the Bank has hinted that interest rates, which have been raised in recent years to slow price rises, could be cut this summer. Rates are currently at 5.25% - the highest level in 16 years. Falling inflation does not mean the prices of goods and services overall are coming down, it is just that they are rising at a slower pace. Lower gas and electricity prices were the main driver behind the sharp inflation drop last month as a lower price cap - which fixes the maximum price that can be charged for each unit of energy - kicked in. Energy prices were 27% lower in April compared to 12 months before, with gas prices alone down 38%. Easing tobacco and food price rises also contributed to the inflation fall, but costs for mobile phone bills and rents continued to rise. Sarah Coles, head of personal finance at Hargreaves Lansdown said for the average household, energy prices were still relatively high. ""It’s still a huge increase on the levels we saw before the invasion of Ukraine - when the cheapest deals cost around half this amount - but it’s a real shot in the arm for anyone trying to make ends meet,"" she added. Some foods, such as milk, butter, poultry and fish were cheaper in April than they were a year earlier, due to falling fertiliser prices and tougher negotiations from supermarkets on own-brand items, Ms Coles explained. But she said olive oil, cocoa and crisps were up because of disappointing harvests and high demand. Prime Minister Rishi Sunak said the figures marked a ""major moment for the economy, with inflation back to normal"". “Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone,"" he added. But Labour's shadow chancellor Rachel Reeves said now was ""not the time for Conservative ministers to be popping champagne corks and taking a victory lap"". Prices for all goods - ranging from food to household appliances - decreased marginally by 0.8% in April compared to this time last year. But services inflation, which measures price rises for things such as haircuts or train tickets, remained elevated at 5.9%. Soaring energy costs have been the main cause of the high cost of living in recent years, putting households and business under financial pressure.  Global as and oil prices soared following Russia's invasion of Ukraine in February 2022. In the UK, the impact of the commodity price hikes saw inflation rise to 11% in October 2022 - its highest rate in 40 years. Butcher Gary Wildman, owner of John Wildman & Sons in Rustington, West Sussex, told the BBC his business costs had gone up but the prices of his products had levelled off. “Prices are probably 10 to 15% more than they were at the beginning of Covid but they are level now definitely,"" he added. “You can’t pass all the cost onto the customers otherwise the customers won’t come in but because the prices of stuff is a bit higher the profit stays pretty much the same.” The Bank of England said earlier this month that it expected inflation to fall ""close"" to its target level soon. But it warned it wanted to see ""more evidence"" before deciding to cut rates, which means August or September appear to be the most likely timing for a first cut, if inflation continues to fall as expected. The interest rate set by the Bank dictates the rates set by High Street banks and money lenders. Higher rates mean people pay more to borrow money for things such as mortgages and loans, but savers also receive better returns. ""It feels like this should be a healthy dose of good news, but anyone with a mortgage will be sickened to hear it’s not as good as it seems,"" said Mr Coles. Rob Wood, chief UK economist at research consultancy Pantheon Macroeconomics, added that an August interest rate cut ""looks much more likely than a June reduction after services inflation shockingly barely fell in April"". Danni Hewson, head of financial analysis at AJ Bell, agreed, adding that the ""expectation of a June rate cut has been washed away like confetti after rain-soaked summer wedding"". She said financial markets expectations of a rate cut next month had ""plummeted from 50/50 to just over 10%"". Sarah Osborn has shared three tips to keep on top of energy use during the warmer months: Read more here if you are struggling to pay energy bills ",BBC,22/05/2024,"['Falling gas and electricity prices have driven UK inflation to its lowest level in almost three years.', 'Prices rose at 2.3% in the year to April, down from 3.2% the month before, official figures show.', ""While inflation, which measures the rate of price increases over time, has fallen further, it remains higher than the Bank of England's target of 2% and was slightly higher than experts expected."", 'But the Bank has hinted that interest rates, which have been raised in recent years to slow price rises, could be cut this summer.', 'Rates are currently at 5.25% - the highest level in 16 years.', 'Falling inflation does not mean the prices of goods and services overall are coming down, it is just that they are rising at a slower pace.', 'Lower gas and electricity prices were the main driver behind the sharp inflation drop last month as a lower price cap - which fixes the maximum price that can be charged for each unit of energy - kicked in.', 'Energy prices were 27% lower in April compared to 12 months before, with gas prices alone down 38%.', 'Easing tobacco and food price rises also contributed to the inflation fall, but costs for mobile phone bills and rents continued to rise.', 'Sarah Coles, head of personal finance at Hargreaves Lansdown said for the average household, energy prices were still relatively high. ""', 'It’s still a huge increase on the levels we saw before the invasion of Ukraine - when the cheapest deals cost around half this amount - but it’s a real shot in the arm for anyone trying to make ends meet,"" she added.', 'Some foods, such as milk, butter, poultry and fish were cheaper in April than they were a year earlier, due to falling fertiliser prices and tougher negotiations from supermarkets on own-brand items, Ms Coles explained.', 'But she said olive oil, cocoa and crisps were up because of disappointing harvests and high demand.', 'Prime Minister Rishi Sunak said the figures marked a ""major moment for the economy, with inflation back to normal"". “', 'Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone,"" he added.', 'But Labour\'s shadow chancellor Rachel Reeves said now was ""not the time for Conservative ministers to be popping champagne corks and taking a victory lap"".', 'Prices for all goods - ranging from food to household appliances - decreased marginally by 0.8% in April compared to this time last year.', 'But services inflation, which measures price rises for things such as haircuts or train tickets, remained elevated at 5.9%.', 'Soaring energy costs have been the main cause of the high cost of living in recent years, putting households and business under financial pressure.', ""Global as and oil prices soared following Russia's invasion of Ukraine in February 2022."", 'In the UK, the impact of the commodity price hikes saw inflation rise to 11% in October 2022 - its highest rate in 40 years.', 'Butcher Gary Wildman, owner of John Wildman & Sons in Rustington, West Sussex, told the BBC his business costs had gone up but the prices of his products had levelled off. “', 'Prices are probably 10 to 15% more than they were at the beginning of Covid but they are level now definitely,"" he added. “', 'You can’t pass all the cost onto the customers otherwise the customers won’t come in but because the prices of stuff is a bit higher the profit stays pretty much the same.”', 'The Bank of England said earlier this month that it expected inflation to fall ""close"" to its target level soon.', 'But it warned it wanted to see ""more evidence"" before deciding to cut rates, which means August or September appear to be the most likely timing for a first cut, if inflation continues to fall as expected.', 'The interest rate set by the Bank dictates the rates set by High Street banks and money lenders.', 'Higher rates mean people pay more to borrow money for things such as mortgages and loans, but savers also receive better returns. ""', 'It feels like this should be a healthy dose of good news, but anyone with a mortgage will be sickened to hear it’s not as good as it seems,"" said Mr Coles.', 'Rob Wood, chief UK economist at research consultancy Pantheon Macroeconomics, added that an August interest rate cut ""looks much more likely than a June reduction after services inflation shockingly barely fell in April"".', 'Danni Hewson, head of financial analysis at AJ Bell, agreed, adding that the ""expectation of a June rate cut has been washed away like confetti after rain-soaked summer wedding"".', 'She said financial markets expectations of a rate cut next month had ""plummeted from 50/50 to just over 10%"".', 'Sarah Osborn has shared three tips to keep on top of energy use during the warmer months: Read more here if you are struggling to pay energy bills']",0.0285296880744749,"Brighter days are ahead, but only if we stick to the plan to improve economic security and opportunity for everyone,"" he added.","But it warned it wanted to see ""more evidence"" before deciding to cut rates, which means August or September appear to be the most likely timing for a first cut, if inflation continues to fall as expected.",0.4702666657311575,"But she said olive oil, cocoa and crisps were up because of disappointing harvests and high demand.","While inflation, which measures the rate of price increases over time, has fallen further, it remains higher than the Bank of England's target of 2% and was slightly higher than experts expected.",2024-05-22
+Water firms ask for bill rises of between 24% and 91%,https://www.bbc.co.uk/news/articles/ce55vp78n40o,2024-05-21T13:33:01.036Z,"Water companies in England and Wales want bills to increase by between 24% and 91% over the next five years, according to figures compiled by the consumer watchdog. Southern Water is asking for the biggest jump of 91%, according to the Consumer Council for Water (CCW), with South Staffordshire and Cambridge Water asking for the lowest rise of 24%.  Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas. The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030. Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure. Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers. The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half. Mike Keil, chief executive of the CCW, said bill rises were ""going to come as a massive surprise to people"". ""People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said. Source: Consumer Council for Water Estimate are for average bills. Costs will vary depending on a property's rateable value  The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October. The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target. There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales. The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems. Katy Taylor, Southern Water’s chief customer officer, said the company shared ""everyone’s concerns about rising payments"", but added ""the water needs of our water-stressed region pose a unique set of challenges which require significant investment"". She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"". Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.  In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period. Macquarie points out that it has recently injected £500m of additional cash into Southern Water. Water UK, which represents suppliers, said bill rises were ""never welcome"" and added that water companies were ""massively increasing the level of financial support they offer to customers who struggle to pay their bills"". ""Ofwat is currently scrutinising these plans and will only allow investment that is new, necessary and value for money. It will not allow water companies to spend money on anything for which they have already received funding,"" the industry body said. Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December. Water services are publicly owned in Northern Ireland and Scotland. ",BBC,21/05/2024,"['Water companies in England and Wales want bills to increase by between 24% and 91% over the next five years, according to figures compiled by the consumer watchdog.', 'Southern Water is asking for the biggest jump of 91%, according to the Consumer Council for Water (CCW), with South Staffordshire and Cambridge Water asking for the lowest rise of 24%.', 'Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas.', 'The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030.', ""Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure."", 'Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers.', 'The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half.', 'Mike Keil, chief executive of the CCW, said bill rises were ""going to come as a massive surprise to people"". ""', 'People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said.', 'Source: Consumer Council for Water Estimate are for average bills.', ""Costs will vary depending on a property's rateable value The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October."", ""The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target."", 'There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales.', 'The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems.', 'Katy Taylor, Southern Water’s chief customer officer, said the company shared ""everyone’s concerns about rising payments"", but added ""the water needs of our water-stressed region pose a unique set of challenges which require significant investment"".', 'She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"".', 'Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.', 'In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.', 'Macquarie points out that it has recently injected £500m of additional cash into Southern Water.', 'Water UK, which represents suppliers, said bill rises were ""never welcome"" and added that water companies were ""massively increasing the level of financial support they offer to customers who struggle to pay their bills"". ""', 'Ofwat is currently scrutinising these plans and will only allow investment that is new, necessary and value for money.', 'It will not allow water companies to spend money on anything for which they have already received funding,"" the industry body said.', 'Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December.', 'Water services are publicly owned in Northern Ireland and Scotland.']",0.0019415019538821,"She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"".","Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure.",0.2631514200142452,"In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.","People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said.",2024-05-22
+Paula Vennells: Five questions for the ex-Post Office boss,https://www.bbc.co.uk/news/articles/cg33yjdpn0qo,2024-05-20T23:12:36.155Z,"The former boss of the Post Office, Paula Vennells, is giving evidence on Wednesday at the public inquiry into the Horizon IT scandal. It is a major investigation into how hundreds of sub-postmasters were wrongly prosecuted starting in 1999 after faulty software said money was missing from Post Office branch accounts. Ms Vennells was chief executive from 2012 to 2019. During this time, sub-postmasters were still being prosecuted but the Post Office continued to deny the faulty Horizon software was to blame, despite mounting evidence of wrongful convictions. This will be the first time Ms Vennells has spoken publicly about what happened in almost a decade. She will be grilled for three days. So, what are some of the key questions she has to answer? The Post Office always claimed sub-postmasters' branch accounts could not be remotely accessed without their knowledge. Prosecutions were done on the basis that the accounts were secure. Once it became known that Fujitsu, the company responsible for the Horizon system, was able to do this, it undermined every prosecution case and civil claim the Post Office had brought.  We now know that the Post Office was made aware as early as 2010 about this secret “back door” access. We also know that in 2015, Paula Vennells wrote a memo to colleagues saying she needed to be able to say, “No, this isn’t possible.”  At the time, she was preparing for an important appearance in front of MPs, as the pressure grew for the Post Office to come clean about the scale of the problems. So when exactly did she know the truth about remote access? Paula Vennells went on to tell MPs on the business select committee in 2015 that she had seen no evidence of any miscarriages of justice.  But two years earlier barrister Simon Clarke warned the Post Office there were problems with past prosecutions. He said this was because they’d relied on evidence from Gareth Jenkins, the Fujitsu IT engineer who failed to disclose to the courts that he knew about bugs in the system.  Mr Clarke wrote that this left the Post Office in breach of its duty as prosecutor.   Lord Arbuthnot, one of the leading campaigners for the sub-postmasters, says Ms Vennells must have known about the advice. “It does make you wonder what reassurances, if any, had she been given, and by whom, before she said what she said on public record.”  When Ms Vennells, who was also a part-time Anglican priest, became chief executive, the business was haemorrhaging money. She was under pressure to modernise the business and make it profitable. Horizon was too big and important to fail.  Nick Wallis, author of the Great Post Office Scandal, believes Ms Vennells didn’t want to be given bad information. “I think she relied on Post Office loyalists and highly paid legal advisers to tell her the truth she wanted to hear.” It's clear there were plenty of missed opportunities along the way. In 2012, under pressure from sub-postmasters and MPs, forensic accountants Second Sight were appointed to look into the growing number of complaints.  Second Sight played a key role in exposing the scandal, finding flaws in the Horizon computer system but Post Office bosses secretly decided in April 2014 to sack the firm, documents obtained by the BBC showed. Ms Vennells defended the Horizon system right to the end. After a mediation scheme to help victims collapsed, sub-postmasters launched an epic High Court battle to get to the truth.  This was the fight for justice launched in 2017 by Alan Bates and a group of 555 sub-postmasters which inspired ITV drama Mr Bates vs The Post Office. Ms Vennells was in charge when the Post Office decided to defend the action, going on to spend £100m fighting the group in court despite knowing its defence was untrue, a draft report uncovered by the BBC showed. The Post Office said it would be ""inappropriate"" to comment on this report. “They doubled down, rather than accept the reality,” says Paul Marshall, a barrister who represented several wrongly convicted branch managers. Ms Vennells left the Post Office just before the damning judgement came through.  There’s one key bit of context to all this. The Post Office is owned by the government, which has a representative on its board.  There’s an awful lot we don’t know about what went on between ministers, top civil servants and the decision making during her leadership, a crucial phase when the alleged cover-up was in full swing.  How much did she tell them about the faults and the problems? And what were they telling her? Did Fujitsu mislead her?  Everyone touched by this terrible scandal now wants to hear the truth from Ms Vennells. In a statement from her solicitors she said: ""I am truly sorry for the devastation caused to the sub-postmasters and their families, whose lives were torn apart by being wrongly accused and wrongly prosecuted as a result of the Horizon system."" She added: ""I now intend to continue to focus on assisting the inquiry and will not make any further public comment until it has concluded."" ",BBC,20/05/2024,"['The former boss of the Post Office, Paula Vennells, is giving evidence on Wednesday at the public inquiry into the Horizon IT scandal.', 'It is a major investigation into how hundreds of sub-postmasters were wrongly prosecuted starting in 1999 after faulty software said money was missing from Post Office branch accounts.', 'Ms Vennells was chief executive from 2012 to 2019.', 'During this time, sub-postmasters were still being prosecuted but the Post Office continued to deny the faulty Horizon software was to blame, despite mounting evidence of wrongful convictions.', 'This will be the first time Ms Vennells has spoken publicly about what happened in almost a decade.', 'She will be grilled for three days.', 'So, what are some of the key questions she has to answer?', ""The Post Office always claimed sub-postmasters' branch accounts could not be remotely accessed without their knowledge."", 'Prosecutions were done on the basis that the accounts were secure.', 'Once it became known that Fujitsu, the company responsible for the Horizon system, was able to do this, it undermined every prosecution case and civil claim the Post Office had brought.', 'We now know that the Post Office was made aware as early as 2010 about this secret “back door” access.', 'We also know that in 2015, Paula Vennells wrote a memo to colleagues saying she needed to be able to say, “No, this isn’t possible.”', 'At the time, she was preparing for an important appearance in front of MPs, as the pressure grew for the Post Office to come clean about the scale of the problems.', 'So when exactly did she know the truth about remote access?', 'Paula Vennells went on to tell MPs on the business select committee in 2015 that she had seen no evidence of any miscarriages of justice.', 'But two years earlier barrister Simon Clarke warned the Post Office there were problems with past prosecutions.', 'He said this was because they’d relied on evidence from Gareth Jenkins, the Fujitsu IT engineer who failed to disclose to the courts that he knew about bugs in the system.', 'Mr Clarke wrote that this left the Post Office in breach of its duty as prosecutor.', 'Lord Arbuthnot, one of the leading campaigners for the sub-postmasters, says Ms Vennells must have known about the advice. “', 'It does make you wonder what reassurances, if any, had she been given, and by whom, before she said what she said on public record.”', 'When Ms Vennells, who was also a part-time Anglican priest, became chief executive, the business was haemorrhaging money.', 'She was under pressure to modernise the business and make it profitable.', 'Horizon was too big and important to fail.', 'Nick Wallis, author of the Great Post Office Scandal, believes Ms Vennells didn’t want to be given bad information. “', 'I think she relied on Post Office loyalists and highly paid legal advisers to tell her the truth she wanted to hear.”', ""It's clear there were plenty of missed opportunities along the way."", 'In 2012, under pressure from sub-postmasters and MPs, forensic accountants Second Sight were appointed to look into the growing number of complaints.', 'Second Sight played a key role in exposing the scandal, finding flaws in the Horizon computer system but Post Office bosses secretly decided in April 2014 to sack the firm, documents obtained by the BBC showed.', 'Ms Vennells defended the Horizon system right to the end.', 'After a mediation scheme to help victims collapsed, sub-postmasters launched an epic High Court battle to get to the truth.', 'This was the fight for justice launched in 2017 by Alan Bates and a group of 555 sub-postmasters which inspired ITV drama Mr Bates vs The Post Office.', 'Ms Vennells was in charge when the Post Office decided to defend the action, going on to spend £100m fighting the group in court despite knowing its defence was untrue, a draft report uncovered by the BBC showed.', 'The Post Office said it would be ""inappropriate"" to comment on this report. “', 'They doubled down, rather than accept the reality,” says Paul Marshall, a barrister who represented several wrongly convicted branch managers.', 'Ms Vennells left the Post Office just before the damning judgement came through.', 'There’s one key bit of context to all this.', 'The Post Office is owned by the government, which has a representative on its board.', 'There’s an awful lot we don’t know about what went on between ministers, top civil servants and the decision making during her leadership, a crucial phase when the alleged cover-up was in full swing.', 'How much did she tell them about the faults and the problems?', 'And what were they telling her?', 'Did Fujitsu mislead her?', 'Everyone touched by this terrible scandal now wants to hear the truth from Ms Vennells.', 'In a statement from her solicitors she said: ""I am truly sorry for the devastation caused to the sub-postmasters and their families, whose lives were torn apart by being wrongly accused and wrongly prosecuted as a result of the Horizon system.""', 'She added: ""I now intend to continue to focus on assisting the inquiry and will not make any further public comment until it has concluded.""']",-0.1080045020967967,This was the fight for justice launched in 2017 by Alan Bates and a group of 555 sub-postmasters which inspired ITV drama Mr Bates vs The Post Office.,"During this time, sub-postmasters were still being prosecuted but the Post Office continued to deny the faulty Horizon software was to blame, despite mounting evidence of wrongful convictions.",-0.6690008640289307,She was under pressure to modernise the business and make it profitable.,But two years earlier barrister Simon Clarke warned the Post Office there were problems with past prosecutions.,2024-05-22
+"BMW, Jaguar and VW imported banned Xinjiang parts - Senate probe",https://www.bbc.co.uk/news/articles/cv2237rplg8o,2024-05-21T03:19:37.025Z,"BMW, Jaguar Land Rover (JLR) and Volkswagen (VW) used parts made by a supplier on a list of firms banned over alleged links to Chinese forced labour, a US congressional report has said. At least 8,000 BMW Mini Cooper cars were imported into the US with components from banned Chinese firm Sichuan Jingweida Technology Group (JWD), according to the report by Senate Finance Committee chairman Ron Wyden's staff. ""Automakers’ self-policing is clearly not doing the job,"" the Democrat Senator said. BMW said it had ""strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow"". It added it had taken steps to ""halt the importation of affected products and will be conducting a service action with customer and dealer notification for affected motor vehicles"". Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".  VW did not immediately respond to a request for comment. Mr Wyden also urged the US Customs and Border Protection agency to ""supercharge enforcement and crack down on companies that fuel the shameful use of forced labour in China"". The report added Jaguar Land Rover had imported spare parts which included components from JWD after the company was put on the banned list. JLR said it has now identified and is destroying any stock it holds around the world that include this component. In February, VW said thousands of its vehicles, including Porsches and Bentleys, had been held by authorities because they had a component in them that breached America's anti-forced labour laws. VW had voluntarily informed customs officials about the issue, the report said. Congress passed the Uyghur Forced Labor Prevention Act (UFLPA) into law in 2021. The legislation is intended to prevent the import of goods from China's north-western Xinjiang region that are believed to have been made by people from the Uyghur minority group in forced labour conditions.  JWD was added to the UFLPA Entity List in December 2023, which means its products are presumed to be made with forced labour. China has been accused of detaining more than one million Uyghurs in Xinjiang against their will over the past few years. Authorities have denied all allegations of human rights abuses in Xinjiang. “The so-called Uyghur Forced Labor Prevention Act by the US is not about forced labor but about creating unemployment. It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. ""China strongly condemns and firmly opposes this. We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.” ",BBC,21/05/2024,"['BMW, Jaguar Land Rover (JLR) and Volkswagen (VW) used parts made by a supplier on a list of firms banned over alleged links to Chinese forced labour, a US congressional report has said.', 'At least 8,000 BMW Mini Cooper cars were imported into the US with components from banned Chinese firm Sichuan Jingweida Technology Group (JWD), according to the report by Senate Finance Committee chairman Ron Wyden\'s staff. ""', 'Automakers’ self-policing is clearly not doing the job,"" the Democrat Senator said.', 'BMW said it had ""strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow"".', 'It added it had taken steps to ""halt the importation of affected products and will be conducting a service action with customer and dealer notification for affected motor vehicles"".', 'Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".', 'VW did not immediately respond to a request for comment.', 'Mr Wyden also urged the US Customs and Border Protection agency to ""supercharge enforcement and crack down on companies that fuel the shameful use of forced labour in China"".', 'The report added Jaguar Land Rover had imported spare parts which included components from JWD after the company was put on the banned list.', 'JLR said it has now identified and is destroying any stock it holds around the world that include this component.', ""In February, VW said thousands of its vehicles, including Porsches and Bentleys, had been held by authorities because they had a component in them that breached America's anti-forced labour laws."", 'VW had voluntarily informed customs officials about the issue, the report said.', 'Congress passed the Uyghur Forced Labor Prevention Act (UFLPA) into law in 2021.', ""The legislation is intended to prevent the import of goods from China's north-western Xinjiang region that are believed to have been made by people from the Uyghur minority group in forced labour conditions."", 'JWD was added to the UFLPA Entity List in December 2023, which means its products are presumed to be made with forced labour.', 'China has been accused of detaining more than one million Uyghurs in Xinjiang against their will over the past few years.', 'Authorities have denied all allegations of human rights abuses in Xinjiang. “', 'The so-called Uyghur Forced Labor Prevention Act by the US is not about forced labor but about creating unemployment.', 'It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. ""', 'China strongly condemns and firmly opposes this.', 'We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”']",-0.3569157781414933,We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”,"Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".",-0.938326338926951,,"It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. """,2024-05-22
+"Interest rate cuts in summer possible, says Bank deputy",https://www.bbc.co.uk/news/articles/c033wprzep6o,2024-05-20T11:22:09.003Z,"The Bank of England has given its strongest hint yet that interest rates could be cut this summer. Bank deputy governor Ben Broadbent said in a speech that a rate cut at ""some time"" over the summer was ""possible"". His comments come ahead of figures on Wednesday that are expected to show a sharp drop in inflation, which measures the rate at which prices are increasing. Earlier this month, the Bank indicated that rate cuts were likely to be actively considered in June and August, depending on how the economy performed.  Mr Broadbent has one vote on the Bank's nine-member Monetary Policy Committee (MPC) that decides interest rates. Earlier this month, two members of the panel voted for a cut, though rates were maintained at 5.25%. Mr Broadbent voted with the majority to keep borrowing costs at the current 16-year high. Next month’s meeting is Mr Broadbent's last before he leaves the Bank in July. In a speech on Monday, he said that there was a range of views across the MPC about how much economic evidence was needed to reduce interest rates. ""The experience of the last two or three years has made people wary. Equally, the behaviour of the economy over the last six months... is reassuring,"" he said. He pointed to analysis that inflation may not be as persistent as originally feared. While the rate has been falling over the past year, it has remained higher than some economists had forecast and this has pushed back expectations of when the Bank will cut rates. The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released this week is expected to see the rate drop close to the Bank's target of 2%. When the Bank of England held rates earlier this month, its governor, Andrew Bailey, said it needed to ""see more evidence"" that price rises have slowed further before cutting interest rates. However, Mr Bailey added he was ""optimistic that things are moving in the right direction"". Fixed mortgage rates fell sharply at the beginning of the year as financial markets forecast that the Bank could cut rates a number of times in 2024. Since then, mortgage rates have increased and remained volatile, as financial markets follow developments in the US where inflation has also not fallen as quickly as expected. Read more here ",BBC,20/05/2024,"['The Bank of England has given its strongest hint yet that interest rates could be cut this summer.', 'Bank deputy governor Ben Broadbent said in a speech that a rate cut at ""some time"" over the summer was ""possible"".', 'His comments come ahead of figures on Wednesday that are expected to show a sharp drop in inflation, which measures the rate at which prices are increasing.', 'Earlier this month, the Bank indicated that rate cuts were likely to be actively considered in June and August, depending on how the economy performed.', ""Mr Broadbent has one vote on the Bank's nine-member Monetary Policy Committee (MPC) that decides interest rates."", 'Earlier this month, two members of the panel voted for a cut, though rates were maintained at 5.25%.', 'Mr Broadbent voted with the majority to keep borrowing costs at the current 16-year high.', ""Next month’s meeting is Mr Broadbent's last before he leaves the Bank in July."", 'In a speech on Monday, he said that there was a range of views across the MPC about how much economic evidence was needed to reduce interest rates. ""', 'The experience of the last two or three years has made people wary.', 'Equally, the behaviour of the economy over the last six months... is reassuring,"" he said.', 'He pointed to analysis that inflation may not be as persistent as originally feared.', 'While the rate has been falling over the past year, it has remained higher than some economists had forecast and this has pushed back expectations of when the Bank will cut rates.', ""The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released this week is expected to see the rate drop close to the Bank's target of 2%."", 'When the Bank of England held rates earlier this month, its governor, Andrew Bailey, said it needed to ""see more evidence"" that price rises have slowed further before cutting interest rates.', 'However, Mr Bailey added he was ""optimistic that things are moving in the right direction"".', 'Fixed mortgage rates fell sharply at the beginning of the year as financial markets forecast that the Bank could cut rates a number of times in 2024.', 'Since then, mortgage rates have increased and remained volatile, as financial markets follow developments in the US where inflation has also not fallen as quickly as expected.', 'Read more here']",0.0481725717830768,The Bank of England has given its strongest hint yet that interest rates could be cut this summer.,He pointed to analysis that inflation may not be as persistent as originally feared.,-0.3271450532807244,"The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released this week is expected to see the rate drop close to the Bank's target of 2%.","While the rate has been falling over the past year, it has remained higher than some economists had forecast and this has pushed back expectations of when the Bank will cut rates.",2024-05-22
+UK inflation rate calculator: How much are prices rising for you?,https://www.bbc.co.uk/news/business-62558817,2022-08-17T06:39:38.000Z,"Every month there's a new figure for inflation - it estimates how much prices are rising across all the goods and services in the economy. In the 12 months to April 2024, the figure was 2.3%. That means things costing £1 in April 2023 cost just over £1.02 the same time the following year. Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for your household, and identifies the items in your household budget that have gone up the most in price over the past year. Note: in the calculator, the ONS compares your personal inflation rate with CPIH, a measure of inflation that includes housing costs for those who own their home, rather than the more widely-reported measure called CPI. In April 2024 this was 3.0%. If you can't see the calculator, click here. ",BBC,17/08/2022,"[""Every month there's a new figure for inflation - it estimates how much prices are rising across all the goods and services in the economy."", 'In the 12 months to April 2024, the figure was 2.3%.', 'That means things costing £1 in April 2023 cost just over £1.02 the same time the following year.', 'Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for your household, and identifies the items in your household budget that have gone up the most in price over the past year.', 'Note: in the calculator, the ONS compares your personal inflation rate with CPIH, a measure of inflation that includes housing costs for those who own their home, rather than the more widely-reported measure called CPI.', 'In April 2024 this was 3.0%.', ""If you can't see the calculator, click here.""]",0.0,,,0.9732926487922668,"Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for your household, and identifies the items in your household budget that have gone up the most in price over the past year.",,2024-05-22
+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.”",2024-05-21
+"Walmart surges to all-time high as earnings beat on high-income shopper, e-commerce gains",https://www.cnbc.com/2024/05/16/walmart-wmt-q1-2025-earnings-.html,2024-05-16T20:04:51+0000,"In this articleWalmart on Thursday topped quarterly earnings and revenue expectations, as the discounter made significant e-commerce gains, drove profits with newer businesses like advertising and won over more high-income shoppers.The big-box retailer said it now expects to hit the high end or slightly top its previous full-year guidance. Walmart had expected net sales growth of 3% to 4% and adjusted earnings per share of between $2.23 and $2.37.Shares of the company hit an all-time high Thursday and closed about 7% higher.In an interview with CNBC, Chief Financial Officer John David Rainey said one of the factors boosting Walmart's grocery business is the widening gap between the price of cooking at home and buying food at fast-food chains or restaurants.Plus, he added, shoppers appreciate the convenience that Walmart offers. For the first time, its delivery business surpassed its store pickup in terms of volume, Rainey said.""We've got customers that are coming to us more frequently than they have before and newer customers that we haven't traditionally had, and they're coming into a Walmart whether it's a virtual store online, or whether it's one of our physical stores,"" Rainey said.Here's what the discounter reported for the fiscal first quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:Walmart's net income jumped to $5.10 billion, or 63 cents per share, in the three-month period that ended April 30, compared with $1.67 billion, or 21 cents per share, in the year-ago period.Revenue climbed 6% from $152.30 billion in the year-ago quarter. That increase includes a benefit of roughly 1% from an additional selling day in the period. As the nation's largest retailer and private employer, Walmart is often viewed as a bellwether for the U.S. economy. Yet it has generally fared better during an inflationary period than other retailers because it sells staples like groceries and has a value-oriented reputation.Same-store sales for Walmart U.S. climbed by 3.8%, excluding fuel. The industry metric includes sales from stores and clubs open for at least a year. At Sam's Club, same-store sales rose 4.4% year over year, excluding fuel.E-commerce sales shot up by 22% year over year for Walmart U.S., fueled by store pickup and delivery of online orders, as well as the company's growing third-party marketplace. Walmart's customers in the U.S. made more visits to its stores and website in the quarter, but spent roughly the same as in the year-ago period. Transactions rose 3.8% and average ticket was flat compared with the year-ago quarter.This week brought promising news for Walmart and other retailers: Inflation eased in April, according to the Labor Department data released Wednesday. The consumer price index was up 3.4% year over year. The closely watched number tracks how much goods and services cost at the cash register.Walmart saw some signs of easing, too. On the company's earnings call, CEO Doug McMillon said inflation in the U.S. was only up 0.4% for the quarter, with mid-single digit deflation on general merchandise and low-single digit inflation in food.He said the company has increased ""rollbacks,"" price reductions on specific items that it typically advertises on its website or with signs in its stores.Even so, the discounter has noticed the impact of inflation, as its shoppers have been selective with purchases. Rainey said customers' ""wallets are still stretched."" He said shoppers have bought less general merchandise, such as home goods and electronics, as they prioritize spending on food and health-related items, a trend that the company has seen for the past several quarters.Still, ""even the low-income consumer seems to be holding in there pretty well,"" Rainey said. He added that sales even in general merchandise categories improved year over year.Walmart had a weaker sales month in April, which mirrored retail sales numbers released by the Commerce Department on Wednesday, but that was offset by sales trends in the other months of the quarter. Rainey chalked up a weaker April to Easter shifting into March, along with cooler and rainier weather.He said sales have picked up again in May and looked similar to the average of the fiscal first quarter.On the earnings call, McMillon emphasized Walmart's expansion of its online business and success getting more customers to buy other items besides groceries. Groceries drive most of Walmart's business — accounting for nearly 60% of the company's U.S. sales in the most recent full fiscal year — but aren't as profitable as selling items like clothing or makeup.""We punched below our weight on general merchandise, specifically in apparel and home, for a really long time, maybe forever, and I think the progress we're seeing right now is driven by the in-store remodels and e-commerce,"" McMillon said.As Walmart tries to appeal to younger and more affluent households, it recently launched a new private-label grocery brand, which includes bolder flavors, plant-based items and more. It is also upgrading and modernizing more than 1,400 stores across the country. The renovated stores showcase some of the retailer's newer and more fashion-forward brands like Love & Sports, an activewear brand developed with fashion designer Michelle Smith and SoulCycle instructor Stacey Griffith, and a kitchen and home decor line called Beautiful, which was developed with Drew Barrymore.Walmart has looked beyond retail to drive profits higher and fend off rivals like Amazon.Those newer businesses like advertising and its subscription-based membership program, Walmart+, lifted its profit during the quarter and contributed to its operating income growth outpacing its sales growth. The company's global advertising business grew 24% during the quarter, including 26% growth for the segment in the U.S.The company's third-party marketplace has also been a significant driver of the business. Like Amazon, Walmart has expanded its online business by welcoming sellers onto its website, and then made more money by offering advertisement and fulfillment services to those sellers.In the U.S., marketplace sellers increased 36% in the quarter and the marketplace now carries more than 420 different items, McMillon said on an earnings call. In Mexico, the number of marketplace sellers grew by more than 50% with the total item count up nearly 80%.Rainey told CNBC that a third of Walmart's year-over-year operating income gains came from those newer businesses.Walmart has been slashing spending in some areas and investing heavily in others. Earlier this week, the company said it would lay off and relocate hundreds of its corporate employees, including the transfer of many to its headquarters in Bentonville, Arkansas. That move came on the heels of the retailer shuttering its Walmart health clinics, a network of doctor and dentist offices that had opened next to its stores.On the other hand, the big-box retailer has poured money into other efforts. As it chases advertising dollars, Walmart announced in February that it will acquire smart TV maker Vizio in a $2.3 billion deal.Rainey said Walmart's announcement this week, which will relocate hundreds of people who currently work from their homes or in offices in Dallas, Toronto and Atlanta, is about shifting away from remote work, not about cost cuts. The move also included layoffs. Walmart has not announced a five-day-a-week office policy, but has said it wants employees to work from the office the majority of the time.""We just feel strongly in the benefit of working together,"" he said. ""One of our competitive advantages is our culture — and that's fostered by being together.""Shares of Walmart closed Thursday at $64, bringing the company's market cap to $515.83 billion. As of Thursday's close, the company's stock is up about 22% so far this year, surpassing the roughly 11% gains of the S&P 500 during the same period.",CNBC,16/05/2024,"['In this articleWalmart on Thursday topped quarterly earnings and revenue expectations, as the discounter made significant e-commerce gains, drove profits with newer businesses like advertising and won over more high-income shoppers.', 'The big-box retailer said it now expects to hit the high end or slightly top its previous full-year guidance.', 'Walmart had expected net sales growth of 3% to 4% and adjusted earnings per share of between $2.23 and $2.37.Shares of the company hit an all-time high Thursday and closed about 7% higher.', ""In an interview with CNBC, Chief Financial Officer John David Rainey said one of the factors boosting Walmart's grocery business is the widening gap between the price of cooking at home and buying food at fast-food chains or restaurants."", 'Plus, he added, shoppers appreciate the convenience that Walmart offers.', 'For the first time, its delivery business surpassed its store pickup in terms of volume, Rainey said.', '""We\'ve got customers that are coming to us more frequently than they have before and newer customers that we haven\'t traditionally had, and they\'re coming into a Walmart whether it\'s a virtual store online, or whether it\'s one of our physical stores,"" Rainey said.', ""Here's what the discounter reported for the fiscal first quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:Walmart's net income jumped to $5.10 billion, or 63 cents per share, in the three-month period that ended April 30, compared with $1.67 billion, or 21 cents per share, in the year-ago period."", 'Revenue climbed 6% from $152.30 billion in the year-ago quarter.', 'That increase includes a benefit of roughly 1% from an additional selling day in the period.', ""As the nation's largest retailer and private employer, Walmart is often viewed as a bellwether for the U.S. economy."", 'Yet it has generally fared better during an inflationary period than other retailers because it sells staples like groceries and has a value-oriented reputation.', 'Same-store sales for Walmart U.S. climbed by 3.8%, excluding fuel.', 'The industry metric includes sales from stores and clubs open for at least a year.', ""At Sam's Club, same-store sales rose 4.4% year over year, excluding fuel."", ""E-commerce sales shot up by 22% year over year for Walmart U.S., fueled by store pickup and delivery of online orders, as well as the company's growing third-party marketplace."", ""Walmart's customers in the U.S. made more visits to its stores and website in the quarter, but spent roughly the same as in the year-ago period."", 'Transactions rose 3.8% and average ticket was flat compared with the year-ago quarter.', 'This week brought promising news for Walmart and other retailers: Inflation eased in April, according to the Labor Department data released Wednesday.', 'The consumer price index was up 3.4% year over year.', 'The closely watched number tracks how much goods and services cost at the cash register.', 'Walmart saw some signs of easing, too.', ""On the company's earnings call, CEO Doug McMillon said inflation in the U.S. was only up 0.4% for the quarter, with mid-single digit deflation on general merchandise and low-single digit inflation in food."", 'He said the company has increased ""rollbacks,"" price reductions on specific items that it typically advertises on its website or with signs in its stores.', 'Even so, the discounter has noticed the impact of inflation, as its shoppers have been selective with purchases.', 'Rainey said customers\' ""wallets are still stretched.""', 'He said shoppers have bought less general merchandise, such as home goods and electronics, as they prioritize spending on food and health-related items, a trend that the company has seen for the past several quarters.', 'Still, ""even the low-income consumer seems to be holding in there pretty well,"" Rainey said.', 'He added that sales even in general merchandise categories improved year over year.', 'Walmart had a weaker sales month in April, which mirrored retail sales numbers released by the Commerce Department on Wednesday, but that was offset by sales trends in the other months of the quarter.', 'Rainey chalked up a weaker April to Easter shifting into March, along with cooler and rainier weather.', 'He said sales have picked up again in May and looked similar to the average of the fiscal first quarter.', ""On the earnings call, McMillon emphasized Walmart's expansion of its online business and success getting more customers to buy other items besides groceries."", ""Groceries drive most of Walmart's business — accounting for nearly 60% of the company's U.S. sales in the most recent full fiscal year — but aren't as profitable as selling items like clothing or makeup."", '""We punched below our weight on general merchandise, specifically in apparel and home, for a really long time, maybe forever, and I think the progress we\'re seeing right now is driven by the in-store remodels and e-commerce,"" McMillon said.', 'As Walmart tries to appeal to younger and more affluent households, it recently launched a new private-label grocery brand, which includes bolder flavors, plant-based items and more.', 'It is also upgrading and modernizing more than 1,400 stores across the country.', ""The renovated stores showcase some of the retailer's newer and more fashion-forward brands like Love & Sports, an activewear brand developed with fashion designerMichelle Smith and SoulCycle instructor Stacey Griffith, and a kitchen and home decor line called Beautiful, which was developed with Drew Barrymore."", 'Walmart has looked beyond retail to drive profits higher and fend off rivals like Amazon.', 'Those newer businesses like advertising and its subscription-based membership program, Walmart+, lifted its profit during the quarter and contributed to its operating income growth outpacing its sales growth.', ""The company's global advertising business grew 24% during the quarter, including 26% growth for the segment in the U.S.The company's third-party marketplace has also been a significant driver of the business."", 'Like Amazon, Walmart has expanded its online business by welcoming sellers onto its website, and then made more money by offering advertisement and fulfillment services to those sellers.', 'In the U.S., marketplace sellers increased 36% in the quarter and the marketplace now carries more than 420 different items, McMillon said on an earnings call.', ""In Mexico, the number of marketplace sellers grew by more than 50% with the total item count up nearly 80%.Rainey told CNBC that a third of Walmart's year-over-year operating income gains came from those newer businesses."", 'Walmart has been slashing spending in some areas and investing heavily in others.', 'Earlier this week, the company said it would lay off and relocate hundreds of its corporate employees, including the transfer of many to its headquarters in Bentonville, Arkansas.', 'That move came on the heels of the retailer shuttering its Walmart health clinics, a network of doctor and dentist offices that had opened next to its stores.', 'On the other hand, the big-box retailer has poured money into other efforts.', 'As it chases advertising dollars, Walmart announced in February that it will acquire smart TV maker Vizio in a $2.3 billion deal.', ""Rainey said Walmart's announcement this week, which will relocate hundreds of people who currently work from their homes or in offices in Dallas, Toronto and Atlanta, is about shifting away from remote work, not about cost cuts."", 'The move also included layoffs.', 'Walmart has not announced a five-day-a-week office policy, but has said it wants employees to work from the office the majority of the time.', '""We just feel strongly in the benefit of working together,"" he said. ""', ""One of our competitive advantages is our culture — and that's fostered by being together."", '""Shares of Walmart closed Thursday at $64, bringing the company\'s market cap to $515.83 billion.', ""As of Thursday's close, the company's stock is up about 22% so far this year, surpassing the roughly 11% gains of the S&P 500 during the same period.""]",0.2787178960899139,"In this articleWalmart on Thursday topped quarterly earnings and revenue expectations, as the discounter made significant e-commerce gains, drove profits with newer businesses like advertising and won over more high-income shoppers.","Rainey chalked up a weaker April to Easter shifting into March, along with cooler and rainier weather.",0.6785912852395665,The consumer price index was up 3.4% year over year.,"Walmart had a weaker sales month in April, which mirrored retail sales numbers released by the Commerce Department on Wednesday, but that was offset by sales trends in the other months of the quarter.",2024-05-21
+Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users,https://www.cnbc.com/2024/05/21/nestle-to-launch-vital-pursuit-frozen-food-for-glp-1-users.html,2024-05-21T13:23:12+0000,"Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.Over the last year, the buzzy weight loss and diabetes drugs have taken off as more options hit the market and as celebrities like Oprah Winfrey and Elon Musk endorse them. Roughly one in eight adults in the U.S. reported using a GLP-1 drug at some point, according to a recent survey from health policy research organization KFF. Roughly half of those Americans, or around 6% of U.S. adults, are currently using one of the treatments. The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.As the drugs' popularity has soared, investors have grown concerned about what their rise means for food and beverage companies and fast-food chains. People who take the medication typically eat less frequently because they have fewer cravings and desire more protein and less sugary and fatty foods. In October, Walmart U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories.But Nestle sees an opportunity to cater to those consumers through Vital Pursuit.""The reality is, for the last 25 years, the diet has been dying, in a sense. ... For me, what we've done is actually given consumers a new tool that actually gives them confidence and success on this journey,"" Nestle's North America CEO Steve Presley told CNBC.The new brand's initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas. The products will include one or more essential nutrients, like protein, calcium or iron. The company plans to sell Vital Pursuit items for $4.99 or under and offer gluten-free options.Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media.The new line will hit the freezer aisle by the fourth quarter.In recent years, Nestle has also tried to focus more on health-conscious consumers. In 2018, it sold its U.S. candy business, which includes brands like Butterfinger, Crunch and Laffy Taffy, to Ferrero for $2.8 billion. Nestle's food business, which includes brands like Stouffer's and Toll House, only accounts for 14.5% of its U.S. sales.Nestle already owns Lean Cuisine, which was founded in 1981 as a healthier alternative to other frozen meals. The company chose to create a new brand to reach GLP-1 users because Lean's branding focuses on consumers looking to limit their calories. However, people who take GLP-1 medications may want to consume more nutrients, such as protein, which can help with the muscle loss associated with the drugs. ""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.Shares of Swiss-based Nestle have fallen 16% this year, dragging its market value down to $278 billion. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.",CNBC,21/05/2024,"['Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.', 'Over the last year, the buzzy weight loss and diabetes drugs have taken off as more options hit the market and as celebrities like Oprah Winfrey and Elon Musk endorse them.', 'Roughly one in eight adults in the U.S. reported using a GLP-1 drug at some point, according to a recentsurveyfrom health policy research organization KFF.', 'Roughly half of those Americans, or around 6% of U.S. adults, are currently using one of the treatments.', 'The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.', ""As the drugs' popularity has soared, investors have grown concerned about what their rise means for food and beverage companies and fast-food chains."", 'People who take the medication typically eat less frequently because they have fewer cravings and desire more protein and less sugary and fatty foods.', 'In October, Walmart U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories.', 'But Nestle sees an opportunity to cater to those consumers through Vital Pursuit.', '""The reality is, for the last 25 years, the diet has been dying, in a sense. ...', 'For me, what we\'ve done is actually given consumers a new tool that actually gives them confidence and success on this journey,"" Nestle\'s North America CEO Steve Presley told CNBC.The new brand\'s initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas.', 'The products will include one or more essential nutrients, like protein, calcium or iron.', 'The company plans to sell Vital Pursuit items for $4.99 or under and offer gluten-free options.', ""Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media."", 'The new line will hit the freezer aisle by the fourth quarter.', 'In recent years, Nestle has also tried to focus more on health-conscious consumers.', 'In 2018, it sold its U.S. candy business, which includes brands like Butterfinger, Crunch and Laffy Taffy, to Ferrero for $2.8 billion.', ""Nestle's food business, which includes brands like Stouffer's and Toll House, only accounts for 14.5% of its U.S. sales."", 'Nestle already owns Lean Cuisine, which was founded in 1981 as a healthier alternative to other frozen meals.', ""The company chose to create a new brand to reach GLP-1 users because Lean's branding focuses on consumers looking to limit their calories."", 'However, people who take GLP-1 medications may want to consume more nutrients, such as protein, which can help with the muscle loss associated with the drugs.', '""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.', 'Shares of Swiss-based Nestle have fallen 16% this year, dragging its market value down to $278 billion.', 'The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.']",0.3001622429968393,"""The consumer research shows that there are certain nutrients and certain macros that need to be delivered to actually help the consumers stay healthy along the journey of the GLP-1 treatment,"" Presley said.",,0.249001994729042,"The total number of U.S. consumers taking the medication could soar to 31.5 million, or 9% of the total population, by 2035, according to research from Morgan Stanley.",The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.,2024-05-21
+Pixar is laying off 14% of its workforce as Disney scales back content,https://www.cnbc.com/2024/05/21/disneys-pixar-layoffs.html,2024-05-21T16:52:56+0000,"Long-expected layoffs are hitting Pixar Animation Studios on Tuesday.Pixar will lay off about 175 employees, or around 14% of the studio's workforce, a spokesperson for parent company Walt Disney told CNBC. The cuts come as CEO Bob Iger works toward his overarching mandate to focus on the quality of its content, not the quantity.Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules. Initially, it was reported that 20% of the animation studio's employees would be laid off.Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns. While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.When theaters closed during the pandemic, Disney sought to pad the company's fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical movies straight to digital.The decision trained parents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen. Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children.As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019. For comparison, just before the pandemic, ""Coco"" generated $796 million globally, while ""Incredibles 2"" tallied $1.24 billion globally, and ""Toy Story 4"" snared $1.07 billion globally.With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.— CNBC's Julia Boorstin contributed to this report",CNBC,21/05/2024,"['Long-expected layoffs are hitting Pixar Animation Studios on Tuesday.', ""Pixar will lay off about 175 employees, or around 14% of the studio's workforce, a spokesperson for parent company Walt Disney told CNBC."", 'The cuts come as CEO Bob Iger works toward his overarching mandate to focus on the quality of its content, not the quantity.', ""Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules."", ""Initially, it was reported that 20% of the animation studio's employees would be laid off."", ""Iger, who returned to the mantle of CEO in late 2022, has been working to reverse the company's box office woes, spurred both by the company's content decisions and pandemic shutdowns."", 'While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.', ""When theaters closed during the pandemic, Disney sought topad the company's fledgling streaming service Disney+ with content, stretching its creative teams thin and sending theatrical moviesstraight to digital."", 'The decision trainedparents to seek out new Disney titles on streaming, not theaters, even when Disney opted to return its films to the big screen.', ""Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children."", 'As a result, no Disney animated feature from Pixar or Walt Disney Animation has generated more than $480 million at the global box office since 2019.', 'For comparison, just before the pandemic, ""Coco"" generated $796 million globally, while ""Incredibles 2"" tallied $1.24 billion globally, and ""Toy Story 4"" snared $1.07 billion globally.', 'With Iger back at the helm, Pixar will refocus on theatrical releases and move away from short-form series for Disney+.—', ""CNBC's Julia Boorstin contributed to this report""]",-0.0605692620657825,"While Disney has seen mixed box office success with several franchises, including the Marvel Cinematic Universe, the company has found it challenging to get its animated features to resonate with audiences.","Layoffs hit other Disney businesses last year, but Pixar's cuts were delayed because of production schedules.",-0.8452608287334442,,"Compounding Disney's woes, many audience members began to feel that the company's content had grown overly existential and too concerned with social issues beyond the reach of children.",2024-05-21
+Microsoft thinks it found a way to make PCs relevant again,https://edition.cnn.com/2024/05/21/tech/microsoft-ai-copilot-plus-build-2024/index.html,"
+  Updated
+        1:40 PM EDT, Tue May 21, 2024
+    ","Microsoft jumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales.
+    
+            The developments push the company closer to its long-time goal to “build computers that understand us versus us having to understand computers,” CEO Satya Nadella told the audience at the company’s annual developer conference at its Redmond, Washington headquarters.
+    
+            “I feel like we’re really close to that real breakthrough,” he added.
+    
+            The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years. The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.
+    
+            Microsoft’s new lineup of Copilot+ PCs, which feature a new Surface Pro tablet and Surface laptop, include AI tools that don’t require internet connection – the AI processing occurs directly on the device
+    
+            The new hardware runs on OpenAI’s new GPT-4o technology, which aims to turn ChatGPT into a digital personal assistant that can engage in real-time, spoken conversations and interact using text and “vision.” Announced last week, it can view screenshots, photos, documents or charts uploaded by users and have a conversation about them.
+    
+            The new hardware also plays up Microsoft’s existing AI assistant called Copilot, which works across various products, including Bing and Microsoft 365. It can help with tasks such as writing, keeping track of emails in Outlook or designing presentations in PowerPoint.
+    
+            One new feature, called Recall, acts as a personal “time machine,” allowing users to quickly find things from their computer, such as documents, images and websites. Another allows for real-time translation into more than 40 more languages locally on the device.
+    
+            The company also showed off a new tool called Team Copilot, which serves as a personal assistant, allowing it act as a meeting facilitator to create agendas or take notes on behalf of the whole team, not just an individual user.
+    
+            Microsoft isn’t alone in its AI PC ambition. Dell and Lenovo also recently debuted AI-first PC computers under the Copilot+ AI umbrella, an emerging category that experts widely believe will become the next stage of computing. (Copilot+ is the name of the line of hardware that supports the Copilot software.)
+    
+            Next month, Apple is expected to announce new AI-powered tools for the iPhone and Mac at its annual Worldwide Developers Conference.
+    
+            “Over time, AI capability will become a ubiquitous feature, but Microsoft and its partners have made a solid start,” Geoff Blaber, CEO at CCS Insight, told CNN. “They will need to work hard to ensure that AI becomes a lot more than just a meaningless descriptor with a growing number of features.”
+    
+            Microsoft’s advancements also come at a time when the PC market is ripe for innovation.
+    
+            “This is a much-needed catalyst,” Blaber added.
+    
+            Although the Surface line is relatively small within the overall PC market, it serves as an aspirational brand and a frontrunner in terms of innovation, according to Jitesh Ubrani, a research manager at market research firm IDC. But Microsoft’s move is more reflective of a greater shift happening in the industry toward AI.
+    
+            In June, Apple will likely introduce generative AI – artificial intelligence that is capable of creating new output from images to text – across its iOS and Mac platforms. Reports indicate the company could unveil an AI-powered chatbot that runs on OpenAI’s ChatGPT technology, the same technology that underpins Microsoft’s new CoPilot+ line.
+    
+            Still, Microsoft has already established itself as an early leader in this space with ChatGPT integrated into key products. And it appears those efforts are paying off.
+    
+            Last month, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago. Revenue grew 17% year-over-year growth to $61.9 billion. Microsoft’s Azure cloud business also experienced strong growth – revenue grew 31% – boosted by AI tailwinds.
+    
+            The company continues to go all in on AI in other ways, too. Earlier this month, Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin to train employees and manufacturers on how to best use artificial intelligence. The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft. It also plans to use the center to train about 100,000 workers across the state.",CNN,21/05/2024,"['Microsoftjumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales.', 'The developments push the company closer to its long-time goal to “build computers that understand us versus us having to understand computers,” CEO Satya Nadella told the audience at the company’s annual developer conference at its Redmond, Washington headquarters.', '“I feel like we’re really close to that real breakthrough,” he added.', 'The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years.', 'The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.', 'Microsoft’s new lineup of Copilot+ PCs, which feature a new Surface Pro tablet and Surface laptop, include AI tools that don’t require internet connection – the AI processing occurs directly on the device  The new hardware runs on OpenAI’s new GPT-4o technology, which aims to turn ChatGPT into a digital personal assistant that can engage in real-time, spoken conversations and interact using text and “vision.”', 'Announced last week, it can view screenshots, photos, documents or charts uploaded by users and have a conversation about them.', 'The new hardware also plays up Microsoft’s existing AI assistant called Copilot, which works across various products, including Bing and Microsoft 365.', 'It can help with tasks such as writing, keeping track ofemails in Outlook or designingpresentations in PowerPoint.', 'One new feature, called Recall, acts as a personal “time machine,” allowing users to quickly find things from their computer, such as documents, images and websites.', 'Another allows for real-time translation into more than 40 more languages locally on the device.', 'The company also showed off a new tool called Team Copilot, which serves as a personal assistant, allowing it act as a meeting facilitator to create agendas or take notes on behalf of the whole team, not just an individual user.', 'Microsoft isn’t alone in its AI PC ambition.', 'Dell and Lenovo also recently debuted AI-first PC computers under the Copilot+ AI umbrella, an emerging category that experts widely believe will become the next stage of computing. (', 'Copilot+ is the name of the line of hardware that supports the Copilot software.)', 'Next month, Apple is expected to announce new AI-powered tools for the iPhone and Mac at its annual Worldwide Developers Conference.', '“Over time, AI capability will become a ubiquitous feature, but Microsoft and its partners have made a solid start,” Geoff Blaber, CEO at CCS Insight, told CNN. “', 'They will need to work hard to ensure that AI becomes a lot more than just a meaningless descriptor with a growing number of features.”', 'Microsoft’s advancements also come at a time when the PC market is ripe for innovation.', '“This is a much-needed catalyst,” Blaber added.', 'Although the Surface line is relatively small within the overall PC market, it serves as an aspirational brand and a frontrunner in terms of innovation, according to Jitesh Ubrani, a research manager at market research firm IDC.', 'But Microsoft’s move is more reflective of a greater shift happening in the industry toward AI.', 'In June, Apple will likely introduce generative AI – artificial intelligence that is capable of creating new output from images to text – across its iOS and Mac platforms.', 'Reports indicate the company could unveil an AI-powered chatbot that runs on OpenAI’s ChatGPT technology, the same technology that underpins Microsoft’s new CoPilot+ line.', 'Still, Microsoft has already established itself as an early leader in this space with ChatGPT integrated into key products.', 'And it appears those efforts are paying off.', 'Last month, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago.', 'Revenue grew 17% year-over-year growth to $61.9 billion.', 'Microsoft’s Azure cloud business also experienced strong growth – revenue grew 31% – boosted by AI tailwinds.', 'The company continues to go all in on AI in other ways, too.', 'Earlier this month, Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin to train employees and manufacturers on how to best use artificial intelligence.', 'The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft.', 'It also plans to use the center to train about 100,000 workers across the state.']",0.2613193043030551,"The company hopes the new machines will boost sales and revive excitement, particularly as AI is expected to become increasingly part of everyday life.",Microsoft isn’t alone in its AI PC ambition.,0.8417981266975403,Revenue grew 17% year-over-year growth to $61.9 billion.,"The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years.",2024-05-21
+How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy,https://edition.cnn.com/2024/05/20/business/what-went-wrong-at-red-lobster/index.html,"
+  Updated
+        3:04 PM EDT, Mon May 20, 2024
+    ","Last summer, Red Lobster made $20 endless shrimp a permanent menu item.
+    
+            Endless shrimp was a successful annual limited-time offer for Red Lobster for 20 years. But Red Lobster’s latest major shareholder, Thai Union, a Bangkok-based canned seafood company, saw the promotion as a way to sell off the mountains of shrimp it was catching and turned it into an everyday item. (Thai Union became Red Lobster’s largest investor in 2020.)
+    
+            The change cost Red Lobster $11 million.
+    
+            Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed.
+    
+            Under a CEO appointed at the direction of Thai Union, Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal to provide shrimp for the chain, the filing said.
+    
+            That led to higher costs, and it did not comply with the company’s typical decision-making process for picking suppliers based on projected demand, according to the chain’s filing.
+    
+            “This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing.
+    
+            Thai Union did not immediately respond to CNN’s request for comment.
+    
+            Endless shrimp alone didn’t doom Red Lobster. The American poster child for seafood was dragged down by a range of factors, say former leaders at the chain and restaurant analysts — including handoffs between a mix of investors and corporate parents and Thai Union’s mismanagement.
+    
+            “Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing.
+    
+            The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster. And years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to add Millennials to its core Baby Boomer customer base.
+    
+            “Red Lobster was the foundation of casual dining. They had a position of power and prominence and revolutionized how American consumers eat seafood,” said Alex Susskind, a professor of food and beverage management at Cornell University, in a previous interview with CNN.
+    
+            But the company didn’t build on that foundation, Susskind said. “Red Lobster had incredible popularity among Baby Boomers. They didn’t bring in a newer generation.”
+    
+            When the first Red Lobster opened in 1968 in Lakeland, Florida, an hour south of Orlando, casual dining was in its infancy.
+    
+            The brand was started by southern restaurateurs Bill Darden and Charley Woodsby. Darden owned several Howard Johnson’s restaurants, one of the first casual dining concepts.
+    
+            “Our motto was informal and family prices,” Woodsby later said. They saw an opportunity to bring seafood to landlocked people at more affordable prices than fine-dining restaurants.
+    
+            “In most of middle America, you couldn’t get decent seafood. Red Lobster brought it to the masses,” said Jonathan Maze, the editor in chief at Restaurant Business Magazine, a trade publication. “Red Lobster was part of this casual dining revolution.”
+    
+            Just two years into Darden and Woodsby’s venture, General Mills acquired the brand. General Mills owned brands like Wheaties, Cheerios and Betty Crocker, and the company wanted to enter the restaurant industry with Red Lobster’s five no-frills restaurants.
+    
+            By the early 1970s, with General Mills’ advertising muscle behind it, Red Lobster opened restaurants across the South.
+    
+            Red Lobster rose quickly and was the first casual dining chain to advertise on network television, according to a Harvard Business School study. Red Lobster also developed the first national seafood distribution system in the 1970s.
+    
+            “Many diners preferred their seafood fried in those days, and Red Lobster’s hush puppies could be considered an early ‘signature item,’” Joe Lee, the first general manager at Red Lobster and later its president, said in a journal article. “Families were welcomed with high chairs and a 59-cent child’s plate.”
+    
+            By 1978, Red Lobster had 236 restaurants and $291 million in sales. It had 372 restaurants and $834 million in sales in 1985.
+    
+            In 1995, General Mills spun off its restaurant division into a new company, Darden Restaurants, named for Red Lobster founder Bill Darden. The company initially included the legacy Red Lobster chain and Olive Garden, an upstart chain General Mills had started in 1982.
+    
+            But Red Lobster fell behind its sister brand Olive Garden under Darden.
+    
+            By 2008, Olive Garden’s sales had eclipsed Red Lobster’s. Darden also acquired fast-growing chains such as Longhorn Steakhouse, Capital Grille and Yard House.
+    
+            “Darden stopped investing in Red Lobster. Things slowly deteriorated,” Les Foreman, a director of operations and divisional vice president at Red Lobster from 2002 to 2022, told CNN. Red Lobster’s sales began declining and Darden prioritized investments in its other brands.
+    
+            Darden soon faced pressure from activist investors pushing the company to split in two.
+    
+            Darden responded to activist pressure by announcing plans in 2013 to sell Red Lobster, separating the chain from the rest of its business.
+    
+            The following year, Darden sold Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. To help fund the deal, Red Lobster spun off its real estate assets in a transaction known as a sale leaseback agreement. Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants.
+    
+            Sale leasebacks are very common in the restaurant industry, but the arrangement wound up hurting Red Lobster because it became stuck with leases it no longer could afford to pay.
+    
+            “That produced cost pressures on Red Lobster that they’ve never had before,” said analyst John Gordon. “It became a problem.”
+    
+            At the same time, fast-casual and quick-service restaurants grew with lower prices, thousands of new drive-thru locations and online delivery. These chains pressured the casual dining sector.
+    
+            Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.
+    
+            Red Lobster’s controlling shareholder Thai Union also hurt the brand, say former employees and analysts.
+    
+            Thai Union was a top supplier of shrimp to Red Lobster for more than 20 years. In 2016, Thai Union took a $575 million minority stake in the brand. In 2020, Thai Union deepened its financial interest in Red Lobster.
+    
+            Thai Union saw an opportunity to grow its business and also become a bigger supplier to Red Lobster.
+    
+            It also tested squeezing Red Lobster’s waitstaff to the breaking point to save on labor costs, switching from waiters covering three tables to 10.
+    
+            Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer. All left the company within two years.
+    
+            Then came the all-you-can-eat shrimp mishap last year.
+    
+            “We were expecting an increase of 20% in customer traffic, but the actual number was up to 40%,” Thai Union CEO Thiraphong Chansiri said in November.
+    
+            Two months later, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment. The company blamed the pandemic, as well as “sustained industry headwinds, higher interest rates and rising material and labor costs.”
+    
+            “I’m going to stop eating lobster,” Chansiri said this year.",CNN,20/05/2024,"['Last summer, Red Lobster made $20 endless shrimp a permanent menu item.', 'Endless shrimp was a successful annual limited-time offer for Red Lobster for 20 years.', 'But Red Lobster’s latest major shareholder, Thai Union, a Bangkok-based canned seafood company, saw the promotion as a way to sell off the mountains of shrimp it was catching and turned it into an everyday item. (', 'Thai Union became Red Lobster’s largest investor in 2020.)', 'The change cost Red Lobster $11 million.', 'Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap.', 'Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed.', 'Under a CEO appointed at the direction of Thai Union, Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal to provide shrimp for the chain, the filing said.', 'That led to higher costs, and it did not comply with the company’s typical decision-making process for picking suppliers based on projected demand, according to the chain’s filing.', '“This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing.', 'Thai Union did not immediately respond to CNN’s request for comment.', 'Endless shrimp alone didn’t doom Red Lobster.', 'The American poster child for seafood was dragged down by a range of factors, say former leaders at the chain and restaurant analysts — including handoffs between a mix of investors and corporate parents and Thai Union’s mismanagement.', '“Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing.', 'The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.', 'And years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to add Millennials to its core Baby Boomer customer base.', '“Red Lobster was the foundation of casual dining.', 'They had a position of power and prominence and revolutionized how American consumers eat seafood,” said Alex Susskind, a professor of food and beverage management at Cornell University, in a previous interview with CNN.', 'But the company didn’t build on that foundation, Susskind said. “', 'Red Lobster had incredible popularity among Baby Boomers.', 'They didn’t bring in a newer generation.”', 'When the first Red Lobster opened in 1968 in Lakeland, Florida, an hour south of Orlando, casual dining was in its infancy.', 'The brand was started by southern restaurateurs Bill Darden and Charley Woodsby.', 'Darden owned several Howard Johnson’s restaurants, one of the first casual dining concepts.', '“Our motto was informal and family prices,” Woodsbylater said.', 'They saw an opportunity to bring seafood to landlocked people at more affordable prices than fine-dining restaurants.', '“In most of middle America, you couldn’t get decent seafood.', 'Red Lobster brought it to the masses,” said Jonathan Maze, the editor in chief at Restaurant Business Magazine, a trade publication. “', 'Red Lobster was part of this casual dining revolution.”', 'Just two years into Darden and Woodsby’s venture, General Mills acquired the brand.', 'General Mills owned brands like Wheaties, Cheerios and Betty Crocker, and the company wanted to enter the restaurant industry with Red Lobster’s five no-frills restaurants.', 'By the early 1970s, with General Mills’ advertising muscle behind it, Red Lobster opened restaurants across the South.', 'Red Lobster rose quickly and was the first casual dining chain to advertise on network television, according to a Harvard Business Schoolstudy.', 'Red Lobster also developed the first national seafood distribution system in the 1970s.', '“Many diners preferred their seafood fried in those days, and Red Lobster’s hush puppies could be considered an early ‘signature item,’” Joe Lee, the first general manager at Red Lobster and later its president, said in a journalarticle. “', 'Families were welcomed with high chairs and a 59-cent child’s plate.”', 'By 1978, Red Lobster had 236 restaurants and $291 million in sales.', 'It had 372 restaurants and $834 million in sales in 1985.', 'In 1995, General Mills spun off its restaurant division into a new company, Darden Restaurants, named for Red Lobster founder Bill Darden.', 'The company initially included the legacy Red Lobster chain and Olive Garden, an upstart chain General Mills had started in 1982.', 'But Red Lobster fell behind its sister brand Olive Garden under Darden.', 'By 2008, Olive Garden’s sales had eclipsed Red Lobster’s.', 'Darden also acquired fast-growing chains such as Longhorn Steakhouse, Capital Grille and Yard House.', '“Darden stopped investing in Red Lobster.', 'Things slowly deteriorated,” Les Foreman, a director of operations and divisional vice president at Red Lobster from 2002 to 2022, told CNN.', 'Red Lobster’s sales began declining and Darden prioritized investments in its other brands.', 'Darden soon faced pressure from activist investors pushing the company to split in two.', 'Darden responded to activist pressure by announcing plans in 2013 tosell Red Lobster, separating the chain from the rest of its business.', 'The following year, Dardensold Red Lobsterto Golden Gate Capital, a private equity firm, for $2.1 billion.', 'To help fund the deal, Red Lobster spun off its real estate assets in a transaction known as a sale leaseback agreement.', 'Red Lobster had long owned its own real estate but would now be paying rent to lease its restaurants.', 'Sale leasebacks are very common in the restaurant industry, but the arrangement wound up hurting Red Lobster because it became stuck with leases it no longer could afford to pay.', '“That produced cost pressures on Red Lobster that they’ve never had before,” said analyst John Gordon. “', 'It became a problem.”', 'At the same time, fast-casual and quick-service restaurants grew with lower prices, thousands of new drive-thru locations and online delivery.', 'These chains pressured the casual dining sector.', 'Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.', 'Red Lobster’s controlling shareholder Thai Union also hurt the brand, say former employees and analysts.', 'Thai Union was a top supplier of shrimp to Red Lobster for more than 20 years.', 'In 2016, Thai Union took a $575 million minority stake in the brand.', 'In 2020, Thai Union deepened its financial interest in Red Lobster.', 'Thai Union saw an opportunity to grow its business and also become a bigger supplier to Red Lobster.', 'It also tested squeezing Red Lobster’s waitstaff to the breaking point to save on labor costs, switching from waiters covering three tables to 10.', 'Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn.', 'In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.', 'All left the company within two years.', 'Then came the all-you-can-eat shrimp mishap last year.', '“We were expecting an increase of 20% in customer traffic, but the actual number was up to 40%,” Thai Union CEO Thiraphong Chansiri said in November.', 'Two months later, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment.', 'The company blamed the pandemic, as well as “sustained industry headwinds, higher interest rates and rising material and labor costs.”', '“I’m going to stop eating lobster,” Chansiri said this year.']",0.0336547402723664,The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.,"Sale leasebacks are very common in the restaurant industry, but the arrangement wound up hurting Red Lobster because it became stuck with leases it no longer could afford to pay.",-0.1549297715055531,"“We were expecting an increase of 20% in customer traffic, but the actual number was up to 40%,” Thai Union CEO Thiraphong Chansiri said in November.","“Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing.",2024-05-21
+"Wendy's will offer $3 breakfast deal, as rivals such as McDonald's test value meals to drive sales",https://www.cnbc.com/2024/05/20/wendys-will-offer-breakfast-meal-deal-after-mcdonalds.html,2024-05-20T20:20:07+0000,"In this articleWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out.The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.The promotion comes as Wendy's rival McDonald's plans a similar yet limited value meal option as it tries to boost traffic. Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25.Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback. Other fast-casual chains have enjoyed strong sales despite higher prices.As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million. Its same-restaurant sales worldwide grew only 0.9% in the quarter.McDonald's missed first-quarter earnings expectations last month. Although higher prices have helped the chain's revenue, they have scared away some low-income customers. Chief Financial Officer Ian Borden said the company has adopted a ""street-fighting mentality"" to compete for value-minded diners.KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates. The company cited same-store sales declines for KFC and Pizza Hut.",CNBC,20/05/2024,"[""In this articleWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out."", 'The deal will include a small portion of seasoned potatoes and a choice of either a bacon, egg and cheese English muffin or a sausage, egg and cheese English muffin, the fast-food chain said.', ""The promotion comes as Wendy's rival McDonald's plans a similar yet limited value meal option as it tries to boost traffic."", ""Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25.Consumers have become more selective about where they spend their dollars, and some restaurants have started to see a long expected consumer pullback."", 'Other fast-casual chains have enjoyed strong sales despite higher prices.', 'As inflation lingers, companies that cater to lower-income consumers have faced a particular challenge bringing in customers.', ""Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million."", 'Its same-restaurant sales worldwide grew only 0.9% in the quarter.', ""McDonald's missed first-quarter earnings expectations last month."", ""Although higher prices have helped the chain's revenue, they have scared away some low-income customers."", 'Chief Financial Officer Ian Borden said the company has adopted a ""street-fighting mentality"" to compete for value-minded diners.', 'KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.', 'The company cited same-store sales declines for KFC and Pizza Hut.']",-0.0395152853201782,Other fast-casual chains have enjoyed strong sales despite higher prices.,"KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.",-0.1785422265529632,Other fast-casual chains have enjoyed strong sales despite higher prices.,"KFC, Pizza Hut and Taco Bell owner Yum Brands also posted a disappointing earnings report earlier this month, as revenue missed Wall Street estimates.",2024-05-21
+Scarlett Johansson lawyers up over ChatGPT voice that ‘shocked and angered’ her,https://edition.cnn.com/2024/05/20/tech/openai-pausing-flirty-chatgpt-voice/index.html,"
+  Updated
+        9:45 PM EDT, Mon May 20, 2024
+    ","Actor Scarlett Johansson said in a statement shared with CNN on Monday that she was “shocked, angered and in disbelief” that OpenAI CEO Sam Altman would use a synthetic voice released with an update to ChatGPT “so eerily similar” to hers.
+    
+            The statement comes after OpenAI said it is hitting the pause button on the update after comparisons with a fictional voice assistant portrayed in the quasi-dystopian film “Her” by Johansson.
+    
+            The retreat by OpenAI follows a backlash to the artificial voice, known as Sky, which critics described as being overly familiar with users and sounded as if it had emerged from a male developer’s fantasy. It was widely mocked for its flirtatious tone.
+    
+            “We’ve heard questions about how we chose the voices in ChatGPT, especially Sky,” OpenAI said in a post on X Monday. “We are working to pause the use of Sky while we address them.”
+    
+            Johansson said Altman offered to hire her last September to voice the ChatGPT 4.0 system. She said she declined the offer for “personal reasons.”
+    
+            “Two days before the ChatGPT 4.0 demo was released, Mr. Altman contacted my agent, asking me to reconsider. Before we could connect, the system was out there.”
+    
+            Johansson said she hired legal counsel, and said OpenAI “reluctantly agreed” to take down the “Sky” voice after her counsel sent Altman two letters.
+    
+            “In a time when we are all grappling with deepfakes and the protection of our own likeness, our own work, our own identities, I believe these are questions that deserve absolute clarity. I look forward to resolution in the form of transparency and the passage of appropriate legislation to help ensure that individual rights are protected,” Johansson wrote.
+    
+            The voice in question is not derived from Johansson’s, the company said in a blog post Sunday, but instead “belongs to a different professional actress using her own natural speaking voice.”
+    
+            Altman reiterated the company’s stance that “Sky” was voiced by a different actress in a statement Monday, following Johansson���s claims.
+    
+            “The voice of Sky is not Scarlett Johansson’s, and it was never intended to resemble hers,” Altman said. “We cast the voice actor behind Sky’s voice before any outreach to Ms. Johansson. Out of respect for Ms. Johansson, we have paused using Sky’s voice in our products. We are sorry to Ms. Johansson that we didn’t communicate better.”
+    
+            OpenAI said that with each of its AI voices, it tried to create “an approachable voice that inspires trust,” one that contains a “rich tone” and is “natural and easy to listen to.” The ChatGPT voice mode that used the Sky voice had not yet been widely released, but videos from the product announcement and teasers of OpenAI employees speaking with it went viral online last week.
+    
+            Some who heard Sky derided it as perhaps too easy to listen to. Last week, the controversy inspired a segment on The Daily Show in which senior correspondent Desi Lydic described Sky as a “horny robot baby voice.”
+    
+            “This is clearly programmed to feed dudes’ egos,” Lydic said. “You can really tell that a man built this tech.”
+    
+            Even Altman appeared to acknowledge the widespread parallels users were drawing with Johansson when he posted to X on the day of the product’s announcement: “her.” Johansson said Altman used this post to insinuate “the similarity was intentional.”
+    
+            “Her” is the title of the 2013 film in which Johansson portrays an artificially intelligent voice assistant with whom the protagonist, played by Joaquin Phoenix, falls in love, only to be left heartbroken when the AI admits she is also in love with hundreds of other users and later becomes inaccessible altogether.
+    
+            The criticism surrounding Sky highlights broader societal concerns about the potential biases of a technology designed by tech companies largely led or funded by White men.
+    
+            The announcement came after OpenAI leaders were forced to defend their safety practices over the weekend after a departing employee called the company’s priorities into question.
+    
+            Jan Leike, who formerly led a team focused on long-term AI safety but left OpenAI last week along with Co-Founder and Chief Scientist Ilya Sutskever, posted a thread on X Friday claiming that “over the past years, safety culture and processes have taken a backseat to shiny products” at OpenAI. He also raised concerns that the company was not devoting enough resources to preparing for a possible future “artificial general intelligence” (AGI) that could be smarter than humans.
+    
+            Altman quickly responded saying he appreciated Leike’s commitment to “safety culture” and added: “He’s right we have a lot more to do; we are committed to doing it.” The company also confirmed to CNN that in recent weeks it had begun to dissolve the team Leike led, and instead was integrating members of the team across its various research groups. A spokesperson for the company said that structure would help OpenAI better achieve its safety objectives.
+    
+            OpenAI President Greg Brockman responded in a longer post on Saturday, which was signed with both his name and Altman’s, laying out the company’s approach to long-term AI safety.
+    
+            “We have raised awareness of the risks and opportunities of AGI so that the world can better prepare for it,” Brockman said. “We’ve repeatedly demonstrated the incredible possibilities from scaling up deep learning and analyzed their implications; called for international governance of AGI before such calls were popular; and helped pioneer the science of assessing AI systems for catastrophic risks.”
+    
+            He added that as AI becomes smarter and more integrated with humans’ daily lives, the company is focused on having in place “a very tight feedback loop, rigorous testing, careful consideration at every step, world-class security, and harmony of safety and capabilities.”",CNN,20/05/2024,"['Actor Scarlett Johansson said in a statement shared with CNN on Monday that she was “shocked, angered and in disbelief” that OpenAI CEO Sam Altman would use a synthetic voice released with anupdate to ChatGPT “so eerily similar” to hers.', 'The statement comes after OpenAI said it is hitting the pause button on the update after comparisons with a fictional voice assistant portrayed in the quasi-dystopian film “Her” by Johansson.', 'The retreat by OpenAI follows a backlash to the artificial voice, known as Sky, which critics described as being overly familiar with users and sounded as if it had emerged from a male developer’s fantasy.', 'It was widely mocked for its flirtatious tone.', '“We’ve heard questions about how we chose the voices in ChatGPT, especially Sky,” OpenAI said in a post on X Monday. “', 'We are working to pause the use of Sky while we address them.”', 'Johansson said Altman offered to hire her last September to voice the ChatGPT 4.0 system.', 'She said she declined the offer for “personal reasons.”', '“Two days before the ChatGPT 4.0 demo was released, Mr. Altman contacted my agent, asking me to reconsider.', 'Before we could connect, the system was out there.”', 'Johansson said she hired legal counsel, and said OpenAI “reluctantly agreed” to take down the “Sky” voice after her counsel sent Altman two letters.', '“In a time when we are all grappling with deepfakes and the protection of our own likeness, our own work, our own identities, I believe these are questions that deserve absolute clarity.', 'I look forward to resolution in the form of transparency and the passage of appropriate legislation to help ensure that individual rights are protected,” Johansson wrote.', 'The voice in question is not derived from Johansson’s, the company said in a blog post Sunday, but instead “belongs to a different professional actress using her own natural speaking voice.”', 'Altman reiterated the company’s stance that “Sky” was voiced by a different actress in a statement Monday, following Johansson’s claims.', '“The voice of Sky is not Scarlett Johansson’s, and it was never intended to resemble hers,” Altman said. “', 'We cast the voice actor behind Sky’s voice before any outreach to Ms. Johansson.', 'Out of respect for Ms. Johansson, we have paused using Sky’s voice in our products.', 'We are sorry to Ms. Johansson that we didn’t communicate better.”', 'OpenAI said that with each of its AI voices, it tried to create “an approachable voice that inspires trust,” one that contains a “rich tone” and is “natural and easy to listen to.”', 'The ChatGPT voice mode that used the Sky voice had not yet been widely released, but videos from the product announcement and teasers of OpenAI employees speaking with it went viral online last week.', 'Some who heard Sky derided it as perhaps too easy to listen to.', 'Last week, the controversy inspired a segment on The Daily Show in which senior correspondent Desi Lydic described Sky as a “horny robot baby voice.”', '“This is clearly programmed to feed dudes’ egos,” Lydic said. “', 'You can really tell that a man built this tech.”', 'Even Altman appeared to acknowledge the widespread parallels users were drawing with Johansson when he posted to X on the day of the product’s announcement: “her.”', 'Johansson said Altman used this post to insinuate “the similarity was intentional.”', '“Her” is the title of the 2013 film in which Johansson portrays an artificially intelligent voice assistant with whom the protagonist, played by Joaquin Phoenix, falls in love, only to be left heartbroken when the AI admits she is also in love with hundreds of other users and later becomes inaccessible altogether.', 'The criticism surrounding Sky highlights broader societal concerns about the potential biases of a technology designed by tech companies largely led or funded by White men.', 'The announcement came after OpenAI leaders were forced to defend their safety practices over the weekend after a departing employee called the company’s priorities into question.', 'Jan Leike, who formerly led a team focused on long-term AI safety but left OpenAI last week along with Co-Founder and Chief Scientist Ilya Sutskever, posted a thread on X Friday claiming that “over the past years, safety culture and processes have taken a backseat to shiny products” at OpenAI.', 'He also raised concerns that the company was not devoting enough resources to preparing for a possible future “artificial general intelligence” (AGI) that could be smarter than humans.', 'Altman quickly responded saying he appreciated Leike’s commitment to “safety culture” and added: “He’s right we have a lot more to do; we are committed to doing it.”', 'The company also confirmed to CNN that in recent weeks it had begun to dissolve the team Leike led, and instead was integrating members of the team across its various research groups.', 'A spokesperson for the company said that structure would help OpenAI better achieve its safety objectives.', 'OpenAI President Greg Brockman responded in a longer post on Saturday, which was signed with both his name and Altman’s, laying out the company’s approach to long-term AI safety.', '“We have raised awareness of the risks and opportunities of AGI so that the world can better prepare for it,” Brockman said. “', 'We’ve repeatedly demonstrated the incredible possibilities from scaling up deep learning and analyzed their implications; called for international governance of AGI before such calls were popular; and helped pioneer the science of assessing AI systems for catastrophic risks.”', 'He added that as AI becomes smarter and more integrated with humans’ daily lives, the company is focused on having in place “a very tight feedback loop, rigorous testing, careful consideration at every step, world-class security, and harmony of safety and capabilities.”']",0.2322638866776335,"OpenAI said that with each of its AI voices, it tried to create “an approachable voice that inspires trust,” one that contains a “rich tone” and is “natural and easy to listen to.”","Actor Scarlett Johansson said in a statement shared with CNN on Monday that she was “shocked, angered and in disbelief” that OpenAI CEO Sam Altman would use a synthetic voice released with anupdate to ChatGPT “so eerily similar” to hers.",-0.0480797131856282,A spokesperson for the company said that structure would help OpenAI better achieve its safety objectives.,"Jan Leike, who formerly led a team focused on long-term AI safety but left OpenAI last week along with Co-Founder and Chief Scientist Ilya Sutskever, posted a thread on X Friday claiming that “over the past years, safety culture and processes have taken a backseat to shiny products” at OpenAI.",2024-05-21
+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.,2024-05-21
+The NBA is picking its TV partners — and a deal hinges on Warner Bros. Discovery's next move,https://www.cnbc.com/2024/05/16/nba-tv-rights-deal-hinges-on-warner-bros-discovery.html,2024-05-16T23:14:28+0000,"In this articleWhether it's two people in a marriage or a company and a sports league, it's not easy to break up a 40-year partnership.The NBA and Warner Bros. Discovery's Turner Sports have been in business together for nearly four decades. The relationship is now in jeopardy, as Comcast's NBCUniversal is attempting to steal away its package of games with a $2.5 billion per-year offer, as CNBC has previously reported.The league ended its exclusive window to renew a deal with its two current media partners, Disney and Warner Bros. Discovery, on April 22. Since then, the league has set a framework to renew with Disney, bring in Amazon as a new third partner, and sell its other package to either Warner Bros. Discovery or NBCUniversal, according to people familiar with the matter. The league stands to triple the total value of a new deal from about $24 billion to $76 billion or more.Warner Bros. Discovery continues to have discussions with the NBA about keeping the rights, according to people familiar with the matter. The league could still decide to simply renew with its incumbent partner, but it's not likely, said two of the people, who asked not to be named because the talks are private.The more probable path would be for the league to sign papers with NBCUniversal, formally securing its bid. That would trigger a contractual option for Warner Bros. Discovery to match the offer.This is where things might get thorny.Both the NBA and Warner Bros. Discovery have begun poring over legal language to determine if the league can reject a potential match, the people said. The contractual wording is vague, and it's unclear if the NBA has full discretion to walk away from Warner Bros. Discovery if it matches the bid, said the people.If Warner Bros. Discovery decides to match, and the NBA moves to choose NBCUniversal's offer, the sides may be headed for a lawsuit. Warner Bros. Discovery believes it's fairly well protected by the contractual language, one of the people said.Still, that remains hypothetical at this point. It's possible Warner Bros. Discovery won't match NBCUniversal's bid, which would avoid potential conflict.Some league officials are worried Warner Bros. Discovery's balance sheet can't handle spending $2.5 billion a year on the NBA, according to people familiar with the matter. Warner Bros. Discovery has a market valuation of about $20 billion and an enterprise value of about $60 billion, including $43.2 billion of gross debt, as of the end of the company's fiscal first quarter. The company had a leverage ratio (net debt to adjusted earnings before interest, taxes, depreciation and amortization) of 4.1.Warner Bros. Discovery CEO David Zaslav has both publicly and privately preached the importance of financial discipline for the company.NBCUniversal parent Comcast has a market capitalization of about $154 billion and an enterprise value of $244 billion. Comcast's leverage ratio is about 2.5.NBA officials are more comfortable Comcast can pay what would amount to more than double the previous price for the package, according to the people familiar to the matter. Warner Bros. Discovery had been paying $1.2 billion per year to air NBA games. The new package also includes fewer games than the current one because the NBA is likely to introduce a third partner — most likely to be Amazon.Spokespeople for Warner Bros. Discovery and the NBA declined to comment.Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played. The new joint venture, one-third owned by each media company, will offer a bundle of sports networks and ESPN+ at a still to be determined price that's less expensive than traditional cable. CNBC reported earlier this year the price could be around $45 or $50 a month. The service will debut in the fall, the companies have said.The three companies haven't yet formally signed paperwork on the venture as they await regulatory approval. If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren't partners in the product.Warner Bros. Discovery licenses the rights to other sports leagues and groups, including MLB, the NHL and the National Collegiate Athletic Association's March Madness. The company will also have the NBA next year no matter what, as the new rights deal doesn't kick in until the end of the 2024-25 season.There's been no discussion about shutting down the venture before it launches if Warner Bros. Discovery loses the NBA, according to a person familiar with the matter. Still, without the NBA, Disney and Fox would be contributing the lion's share of sports content for the service. Disney's ESPN and Fox own both college football and NFL packages, unlike Warner Bros. Discovery. The three companies plan to split revenue commensurate with the affiliate fees associated with their linear networks.Warner Bros. Discovery could use the money it saves from not obtaining NBA rights to spend on other sports, such as more MLB games or bidding for UFC, which will likely begin renewal discussions with media companies in early 2025.ESPN plans to launch its own ""flagship"" streaming service in the fall of 2025.Disclosure: Comcast's NBCUniversal is the parent company of CNBC.WATCH: The root problem facing streamers is the lack of daily usage, says LightShed's Greenfield",CNBC,16/05/2024,"[""In this articleWhether it's two people in a marriage or a company and a sports league, it's not easy to break up a 40-year partnership."", ""The NBA and Warner Bros. Discovery's Turner Sports have been in business together for nearly four decades."", ""The relationship is now in jeopardy, as Comcast's NBCUniversal is attempting to steal away its package of games with a $2.5 billion per-year offer, as CNBC has previously reported."", 'The league ended its exclusive window to renew a deal with its two current media partners, Disney and Warner Bros. Discovery, on April 22.', 'Since then, the league has set a framework to renew with Disney, bring in Amazon as a new third partner, and sell its other package to either Warner Bros. Discovery or NBCUniversal, according to people familiar with the matter.', 'The league stands to triple the total value of a new deal from about $24 billion to $76 billion or more.', 'Warner Bros. Discovery continues to have discussions with the NBA about keeping the rights, according to people familiar with the matter.', ""The league could still decide to simply renew with its incumbent partner, but it's not likely, said two of the people, who asked not to be named because the talks are private."", 'The more probable path would be for the league to sign papers with NBCUniversal, formally securing its bid.', 'That would trigger a contractual option for Warner Bros. Discovery to match the offer.', 'This is where things might get thorny.', 'Both the NBA and Warner Bros. Discovery have begun poring over legal language to determine if the league can reject a potential match, the people said.', ""The contractual wording is vague, and it's unclear if the NBA has full discretion to walk away from Warner Bros. Discovery if it matches the bid, said the people."", ""If Warner Bros. Discovery decides to match, and the NBA moves to choose NBCUniversal's offer, the sides may be headed for a lawsuit."", ""Warner Bros. Discovery believes it's fairly well protected by the contractual language, one of the people said."", 'Still, that remains hypothetical at this point.', ""It's possible Warner Bros. Discovery won't match NBCUniversal's bid, which would avoid potential conflict."", ""Some league officials are worried Warner Bros. Discovery's balance sheet can't handle spending $2.5 billion a year on the NBA, according to people familiar with the matter."", ""Warner Bros. Discovery has a market valuation of about $20 billion and an enterprise value of about $60 billion, including $43.2 billion of gross debt, as of the end of the company's fiscal first quarter."", 'The company had a leverage ratio (net debt to adjusted earnings before interest, taxes, depreciation and amortization) of 4.1.Warner Bros. Discovery CEO David Zaslav has both publicly and privately preached the importance of financial discipline for the company.', 'NBCUniversal parent Comcast has a market capitalization of about $154 billion and an enterprise value of $244 billion.', ""Comcast's leverage ratio is about 2.5.NBA officials are more comfortable Comcast can pay what would amount to more than double the previous price for the package,according to the people familiar to the matter."", 'Warner Bros. Discovery had been paying $1.2 billion per year to air NBA games.', 'The new package also includes fewer games than the current one because the NBA is likely to introduce a third partner — most likely to be Amazon.', 'Spokespeople for Warner Bros. Discovery and the NBA declined to comment.', 'Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played.', ""The new joint venture, one-third owned by each media company, will offer a bundle of sports networks and ESPN+ at a still to be determined price that's less expensive than traditional cable."", 'CNBC reported earlier this year the price could be around $45 or $50 a month.', 'The service will debut in the fall, the companies have said.', ""The three companies haven't yet formally signed paperwork on the venture as they await regulatory approval."", ""If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren't partners in the product."", ""Warner Bros. Discovery licenses the rights to other sports leagues and groups, including MLB, the NHL and the National Collegiate Athletic Association's March Madness."", ""The company will also have the NBA next year no matter what, as the new rights deal doesn't kick in until the end of the 2024-25 season."", ""There's been no discussion about shutting down the venture before it launches if Warner Bros. Discovery loses the NBA, according to a person familiar with the matter."", ""Still, without the NBA, Disney and Fox would be contributing the lion's share of sports content for the service."", ""Disney's ESPN and Fox own both college football and NFL packages, unlike Warner Bros. Discovery."", 'The three companies plan to split revenue commensurate with the affiliate fees associated with their linear networks.', 'Warner Bros. Discovery could use the money it saves from not obtaining NBA rights to spend on other sports, such as more MLB games or bidding for UFC, which will likely begin renewal discussions with media companies in early 2025.ESPN plans to launch its own ""flagship"" streaming service in the fall of 2025.Disclosure: Comcast\'s NBCUniversal is the parent company of CNBC.WATCH: The root problem facing streamers is the lack of daily usage, says LightShed\'s Greenfield']",0.000679100756805,"Warner Bros. Discovery, Disney and Fox announced Thursday they plan to name their new sports streaming platform Venu, taking inspiration from where live sports are played.","The relationship is now in jeopardy, as Comcast's NBCUniversal is attempting to steal away its package of games with a $2.5 billion per-year offer, as CNBC has previously reported.",0.1325168354170663,"Comcast's leverage ratio is about 2.5.NBA officials are more comfortable Comcast can pay what would amount to more than double the previous price for the package,according to the people familiar to the matter.","If Warner Bros. Discovery loses the NBA, that will diminish the value of the service for consumers, as NBCUniversal and Amazon aren't partners in the product.",2024-05-21
+"United Airlines says FAA cleared it to start adding new aircraft, routes after safety review",https://www.cnbc.com/2024/05/16/faa-clears-united-airlines-after-safety-review.html,2024-05-16T19:26:52+0000,"In this articleUnited Airlines said the Federal Aviation Administration has cleared it to start adding new aircraft and routes months after the regulator stepped up its scrutiny of the carrier following several safety incidents.""Today, we got some good news: after a careful review and discussion about the proactive safety steps United has taken to date, our FAA Certificate Management Office has allowed us to begin the process of restarting our certification activities, including new aircraft and routes, and we will continue to coordinate closely with the FAA,"" United said in a note to employees Wednesday.United said in March that the FAA had stepped up scrutiny of the airline after a spate of incidents earlier this year. That prevented it from launching new routes, including flights to Faro, Portugal, ahead of the busy summer travel season.United said that it has more work to do, however.""We will continue to see an FAA presence in our operation as they review our work processes, manuals and facilities,"" it said in its employee memo.United would send requests to the FAA to add aircrafts or new routes, though a spokesperson said it has yet to do so. The FAA said later Thursday that it has not yet ""approved any expansion of United Airlines' routes or fleets."" The FAA said its review is ""ongoing and safety will determine the timeline for completing it.""A clearance from the FAA would be welcome news as United and other carriers expect a record peak season this year.Among the safety incidents in recent months, a Japan-bound United Boeing 777 lost a tire shortly after takeoff from San Francisco in February, and a missing panel was discovered on a Boeing 737 after it landed in Oregon in March.While the planes involved older jets, the incidents come amid heightened scrutiny of the aviation industry after a door plug blew out of a nearly new Boeing 737 Max 9 operated by Alaska Airlines earlier this year, a near catastrophe that has created a fresh crisis for the manufacturer.",CNBC,16/05/2024,"['In this articleUnited Airlines said the Federal Aviation Administration has cleared it to start adding new aircraft and routes months after the regulator stepped up its scrutiny of the carrier following several safety incidents.', '""Today, we got some good news: after a careful review and discussion about the proactive safety steps United has taken to date, our FAA Certificate Management Office has allowed us to begin the process of restarting our certification activities, including new aircraft and routes, and we will continue to coordinate closely with the FAA,"" United said in a note to employees Wednesday.', 'United said in March that the FAA had stepped up scrutiny of the airline after a spate of incidents earlier this year.', 'That prevented it from launching new routes, including flights to Faro, Portugal, ahead of the busy summer travel season.', 'United said that it has more work to do, however.', '""We will continue to see an FAA presence in our operation as they review our work processes, manuals and facilities,"" it said in its employee memo.', 'United would send requests to the FAA to add aircrafts or new routes, though a spokesperson said it has yet to do so.', 'The FAA said later Thursday that it has not yet ""approved any expansion of UnitedAirlines\' routes or fleets.""', 'The FAA said its review is ""ongoing and safety will determine the timeline for completing it.', '""A clearance from the FAA would be welcome news as United and other carriers expect a record peak season this year.', 'Among the safety incidents in recent months, a Japan-bound United Boeing 777 lost a tire shortly after takeoff from San Francisco in February, and a missing panel was discovered on a Boeing 737 after it landed in Oregon in March.', 'While the planes involved older jets, the incidents come amid heightened scrutiny of the aviation industry after a door plug blew out of a nearly new Boeing 737 Max 9 operated by Alaska Airlines earlier this year, a near catastrophe that has created a fresh crisis for the manufacturer.']",0.2539566092965166,"""Today, we got some good news: after a careful review and discussion about the proactive safety steps United has taken to date, our FAA Certificate Management Office has allowed us to begin the process of restarting our certification activities, including new aircraft and routes, and we will continue to coordinate closely with the FAA,"" United said in a note to employees Wednesday.","While the planes involved older jets, the incidents come amid heightened scrutiny of the aviation industry after a door plug blew out of a nearly new Boeing 737 Max 9 operated by Alaska Airlines earlier this year, a near catastrophe that has created a fresh crisis for the manufacturer.",0.1512451086725507,"""A clearance from the FAA would be welcome news as United and other carriers expect a record peak season this year.","While the planes involved older jets, the incidents come amid heightened scrutiny of the aviation industry after a door plug blew out of a nearly new Boeing 737 Max 9 operated by Alaska Airlines earlier this year, a near catastrophe that has created a fresh crisis for the manufacturer.",2024-05-21
+"Lowe's beats on earnings and revenue, even as consumers spend less on DIY projects",https://www.cnbc.com/2024/05/21/lowes-low-q1-2024-earnings.html,2024-05-21T17:51:56+0000,"In this articleLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items.The home improvement retailer's results echoed those of Home Depot last week. Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.Lowe's stuck by its full-year forecast. It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023. It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30.In an interview with CNBC, Marvin Ellison said a mix of factors have kept consumers from spending more freely, including pressure from inflation and uncertainty around when the Federal Reserve may cut interest rates.""Interest rates can go down, but you still need consumer confidence come up,"" he said.He said Lowe's held off on raising its full-year outlook as it awaits some of its biggest sales days. Spring is the holiday season for home improvement.Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier.Sales dropped from $22.35 billion in the year-ago period. It marked the fifth quarter in a row that Lowe's posted a year-over-year sales decline.Shoppers visited Lowe's stores and website less, as homeowners put off larger projects and bought fewer pricey items. Transactions dropped 3.1% and average ticket dropped 1% year over year, Ellison said.He told CNBC that customers have been buying fewer discretionary items, such as outdoor grills and patio sets, and taking on fewer projects like kitchen remodels.Compared with Home Depot, Lowe's draws less of its business from painters, contractors and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back. Roughly half of Home Depot's sales come from pros compared with about 20% to 25% at Lowe's.Yet Lowe's has been trying to win business from more of those pros. Gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending.Comparable sales for the quarter decreased 6.2%. For pro customers, however, comparable sales were flat for the quarter.Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline. At the time, Ellison warned investors that the retailer expected ""a pullback in discretionary consumer spending over the near term.""For each of the three quarters since then, Lowe's sales have also dropped from the year-ago periods.Shares of Lowe's closed Monday at $229.17, bringing the company's market value to $131.13 billion. As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.",CNBC,21/05/2024,"[""In this articleLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items."", ""The home improvement retailer's results echoed those of Home Depot last week."", 'Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.', ""Lowe's stuck by its full-year forecast."", 'It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in fiscal 2023.', 'It anticipates comparable sales will decline between 2% and 3% compared with the prior year, and expects earnings per share of approximately $12 to $12.30.In an interview with CNBC, Marvin Ellison said a mix of factors have kept consumers from spending more freely, including pressure from inflation and uncertainty around when the Federal Reserve may cut interest rates.', '""Interest rates can go down, but you still need consumer confidence come up,"" he said.', ""He said Lowe's held off on raising its full-year outlook as it awaits some of its biggest sales days."", 'Spring is the holiday season for home improvement.', ""Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier."", 'Sales dropped from $22.35 billion in the year-ago period.', ""It marked the fifth quarter in a row that Lowe's posted a year-over-year sales decline."", ""Shoppers visited Lowe's stores and website less, as homeowners put off larger projects and bought fewer pricey items."", 'Transactions dropped 3.1% and average ticket dropped 1% year over year, Ellison said.', 'He told CNBC that customers have been buying fewer discretionary items, such as outdoor grills and patio sets, and taking on fewer projects like kitchen remodels.', ""Compared with Home Depot, Lowe's draws less of its business from painters, contractors and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back."", ""Roughly half of Home Depot's sales come from pros compared with about 20% to 25% at Lowe's."", ""Yet Lowe's has been trying to win business from more of those pros."", 'Gains with pros and online sales growth helped to partially offset a decline in do-it-yourself spending.', 'Comparable sales for the quarter decreased 6.2%.', 'For pro customers, however, comparable sales were flat for the quarter.', ""Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline."", 'At the time, Ellison warned investors that the retailer expected ""a pullback in discretionary consumer spending over the near term.', '""For each of the three quarters since then, Lowe\'s sales have also dropped from the year-ago periods.', ""Shares of Lowe's closed Monday at $229.17, bringing the company's market value to $131.13 billion."", ""As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.""]",0.2006188480062568,"""Interest rates can go down, but you still need consumer confidence come up,"" he said.","Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring.",-0.303969019651413,"As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.",Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline.,2024-05-21
+Warren Buffett finally reveals the mysterious company he’s invested billions of dollars in,https://edition.cnn.com/2024/05/15/business/warren-buffett-berkshire-hathaway-chubb-stake/index.html,"
+  Updated
+        11:47 PM EDT, Thu May 16, 2024
+    ","The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year.
+    
+            Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments. That translates to a value of approximately $6.7 billion.
+    
+            Buffett’s company had shielded the position from public knowledge as it was building the stake, requesting “confidential treatment” from the SEC in previous filings.
+    
+            Chubb, an insurance business that operates in 54 countries, made headlines in March after the company underwrote President Donald Trump’s nearly $92 million appeal bond in E. Jean Carroll’s defamation lawsuit.
+    
+            Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves. Berkshire Hathaway’s stake in Chubb is no exception. Chubb’s stock jumped by more than 8% in after-hours trading on Wednesday.
+    
+            Buffett’s bet on Chubb is familiar territory: insurance companies Geico, National Indemnity and General Re are all subsidiaries of Berkshire Hathaway.
+    
+            The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months. It has seemingly doubled down on financial companies like Ally Financial, American Express and Bank of America while trimming its investments in consumer products.
+    
+            In February, Berkshire disclosed that it sold off 10 million shares of Apple in the first three months of the year, though Apple remains Berkshire’s largest investment. Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.
+    
+            - CNN’s Nicole Goodkind contributed to reporting.",CNN,16/05/2024,"['The mystery is over: Warren Buffett’s Berkshire Hathaway disclosed a major stake in the insurance company Chubb, finally revealing the investment he has kept under wraps since last year.', 'Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments.', 'That translates to a value of approximately $6.7 billion.', 'Buffett’s company had shielded the position from public knowledge as it was building the stake, requesting “confidential treatment” from the SEC in previous filings.', 'Chubb, an insurance business that operates in 54 countries, made headlines in March after the company underwrote President Donald Trump’s nearly $92 million appeal bond in E. Jean Carroll’s defamation lawsuit.', 'Buffett, Berkshire’s CEO famous for his investing prowess, has amassed a sizable following of investors who mimic his portfolio moves.', 'Berkshire Hathaway’s stake in Chubb is no exception.', 'Chubb’s stock jumped by more than 8% in after-hours trading on Wednesday.', 'Buffett’s bet on Chubb is familiar territory: insurance companies Geico, National Indemnity and General Re are all subsidiaries of Berkshire Hathaway.', 'The investment in Chubb underscores Berkshire Hathaway’s investment strategy over the past several months.', 'It has seemingly doubled down on financial companies like Ally Financial, American Express and Bank of America while trimming its investments in consumer products.', 'In February, Berkshire disclosed that it sold off 10 million shares of Apple in the first three months of the year, though Apple remains Berkshire’s largest investment.', 'Berkshire also sold 80 million shares of printer company HP in the fourth quarter of 2023, reducing its holdings by 78%.', '- CNN’s Nicole Goodkind contributed to reporting.']",0.0926756691555275,Berkshire revealed it acquired nearly 26 million shares of Chubb in a Wednesday Securities and Exchange Commission filing of the company’s first quarter investments.,Berkshire Hathaway’s stake in Chubb is no exception.,0.4784295260906219,Chubb’s stock jumped by more than 8% in after-hours trading on Wednesday.,"It has seemingly doubled down on financial companies like Ally Financial, American Express and Bank of America while trimming its investments in consumer products.",2024-05-21
+JPMorgan CEO Jamie Dimon signals retirement is closer than ever,https://www.cnbc.com/2024/05/20/jpmorgan-ceo-jamie-dimon-retirement-approaching.html,2024-05-20T23:12:50+0000,"In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years. That is a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away.""The timetable isn't five years anymore,"" Dimon said at the New York-based bank's annual investor meeting.The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts. Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.Still, Dimon added Monday that he still has ""the energy that I've always had"" in managing the sprawling company.The decision of when he moves on will ultimately be up to JPMorgan's board, Dimon said, and he exhorted investors and analysts to examine the executives who could take his place.Atop the short list of candidates is Marianne Lake, CEO of JPMorgan's consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank. The executives were given their latest assignments in January.""We're on the way, we're moving people around,"" Dimon said.Even when he steps down as CEO, however, it is likely he will stay on as the bank's chairman, JPMorgan has said.",CNBC,20/05/2024,"[""In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much."", ""In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years."", ""That is a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away."", '""The timetable isn\'t five years anymore,"" Dimon said at the New York-based bank\'s annual investor meeting.', ""The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts."", 'Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.', 'Still, Dimon added Monday that he still has ""the energy that I\'ve always had"" in managing the sprawling company.', ""The decision of when he moves on will ultimately be up to JPMorgan's board, Dimon said, and he exhorted investors and analysts to examine the executives who could take his place."", ""Atop the short list of candidates is Marianne Lake, CEO of JPMorgan's consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank."", 'The executives were given their latest assignments in January.', '""We\'re on the way, we\'re moving people around,"" Dimon said.', ""Even when he steps down as CEO, however, it is likely he will stay on as the bank's chairman, JPMorgan has said.""]",0.0673280442222593,"Still, Dimon added Monday that he still has ""the energy that I've always had"" in managing the sprawling company.",In this articleJamie Dimon's days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.,-0.9450824856758118,,The ambiguity of Dimon's plans has made succession timing at JPMorgan one of the persistent questions for the bank's investors and analysts.,2024-05-21
+Peloton shares drop after it announces refinancing to stave off cash crunch,https://www.cnbc.com/2024/05/20/peloton-shares-plunge-after-refinancing.html,2024-05-20T21:55:22+0000,"In this articlePeloton shares plunged on Monday after the connected fitness company said it is launching a ""global refinancing,"" as it looks to stave off a cash crunch amid falling sales. The company is offering $275 million in convertible senior notes due 2029 in a private offering and plans to enter into a $1 billion five-year term loan and $100 million revolving credit facility. Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan. Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground. Last month, Peloton announced that its CEO Barry McCarthy was stepping down and said it planned to lay off 15% of its workforce because it ""simply had no other way to bring its spending in line with its revenue.""The restructuring was designed to improve Peloton's cash position as demand for its connected fitness products continues to fall. The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan. It said it is working closely with its lenders at JPMorgan and Goldman Sachs on a ""refinancing strategy.""""Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital,"" the company said. ""We are encouraged by the support and inbound interest from our existing lenders and investors and we look forward to sharing more about this topic.""",CNBC,20/05/2024,"['In this articlePeloton shares plunged on Monday after the connected fitness company said it is launching a ""global refinancing,"" as it looks to stave off a cash crunch amid falling sales.', 'The company is offering $275 million in convertible senior notes due 2029 in a private offering and plans to enter into a $1 billion five-year term loan and $100 million revolving credit facility.', 'Peloton plans to use the proceeds to buy back about $800 million of its 0% convertible senior notes, which are currently due in 2026, and refinance its existing term loan.', 'Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground.', 'Last month, Peloton announced that its CEO Barry McCarthy was stepping down and said it planned to lay off 15% of its workforce because it ""simply had no other way to bring its spending in line with its revenue.', '""The restructuring was designed to improve Peloton\'s cash position as demand for its connected fitness products continues to fall.', 'The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.', 'In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan.', 'It said it is working closely with its lenders at JPMorgan and Goldman Sachson a ""refinancing strategy.', '""""Overall, our refinancing goals are to deleverage and extend maturities at a reasonable blended cost of capital,"" the company said. ""', 'We are encouraged by the support and inbound interest from our existing lenders and investors and we look forward to sharing more about this topic.""']",0.2533256277869251,"The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.","In a letter to shareholders, the company said it is ""mindful"" of the timing of its debt maturities, which include convertible notes and a term loan.",0.1452564001083374,"The company has been working to achieve positive free cash flow, which ""makes Peloton a more attractive borrower"" and ""is important as the company turns its attention to the necessary task of successfully refinancing its debt,"" McCarthy said in a memo to staff prior to his departure.","Shares fell more than 12% in extended trading after Peloton announced the refinancing, but later regained some ground.",2024-05-21
+"Dodge and Ram boss Tim Kuniskis, father of the Hellcat, to retire from Stellantis",https://www.cnbc.com/2024/05/17/dodge-ram-boss-tim-kuniskis-to-retire-from-stellantis.html,2024-05-17T16:57:09+0000,"In this articleDETROIT – Stellantis' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday.Kuniskis, who has led several of the carmaker's brands in North America, is best known for leading Dodge for most of the last decade or so. He is considered the ""father"" of Dodge's high-performance Hellcat models and ""the unofficial spokesman"" for American muscle cars.During his tenure, Dodge reestablished itself as a quintessential American muscle car brand. The brand did so with vehicles such as the more than 700 horsepower Challenger and Charger Hellcat models and controversial Challenger Demon drag race cars.Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team. The appointments are effective June 1, the company said.The changes come as Stellantis carries out a restructuring, including layoffs and cost cutting. It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%. The company was the only major automaker to report a yearly decline, according to Motor intelligence data.""I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands. I wish him well in his retirement,"" Stellantis CEO Carlos Tavares said in a release. ""I am confident that Chris will continue the work of Tim in leading the iconic Ram brand. Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future.""While the company did not invest in all-new products for Dodge, Kuniskis, a salesperson and marketer, was able to grow awareness and sales of the brand's Charger, Challenger and Durango vehicles over the years. Dodge often sparked interest by increasing V-8 engine performance or announcing new ""buzz"" models.Kuniskis has been a member of Stellantis' top executive team since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in January 2021. He also served on the top board for Fiat Chrysler, under late CEO Sergio Marchionne.Kuniskis' departure is the latest in a string of changes to the company since the automaker was established. Recent changes have include a shuffle of Jeep's top executives; North America head Mark Stewart leaving to become CEO of Goodyear Tire and Rubber Co.; and a shakeup late last year of the company's international operations like the South America and Asia-Pacific regions, including China.",CNBC,17/05/2024,"[""In this articleDETROIT – Stellantis' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly 32-year career with the automaker and its predecessors, the company announced Friday."", ""Kuniskis, who has led several of the carmaker's brands in North America, is best known for leading Dodge for most of the last decade or so."", 'He is considered the ""father"" of Dodge\'s high-performance Hellcat models and ""the unofficial spokesman"" for American muscle cars.', 'During his tenure, Dodge reestablished itself as a quintessential American muscle car brand.', 'The brand did so with vehicles such as the more than 700 horsepower Challenger and Charger Hellcat models and controversial Challenger Demon drag race cars.', ""Kuniskis will be replaced by Chrysler brand CEO Christine Feuell, who will lead Ram in addition to Chrysler, and Matt McAlear, who will be promoted from Dodge's sales lead to brand CEO and a member of Stellantis' top executive team."", 'The appointments are effective June 1, the company said.', 'The changes come as Stellantis carries out a restructuring, including layoffs and cost cutting.', 'It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%.', 'The company was the only major automaker to report a yearly decline, according to Motor intelligence data.', '""I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands.', 'I wish him well in his retirement,"" Stellantis CEO Carlos Tavares said in a release. ""', 'I am confident that Chris will continue the work of Tim in leading the iconic Ram brand.', 'Matt will bring a fresh perspective, while continuing to draw on the heritage of our iconic Dodge brand and leading the transition of the brand toward a sustainable future.', '""While the company did not invest in all-new products for Dodge, Kuniskis, a salesperson and marketer, was able to grow awareness and sales of the brand\'s Charger, Challenger and Durango vehicles over the years.', 'Dodge often sparked interest by increasing V-8 engine performance or announcing new ""buzz"" models.', ""Kuniskis has been a member of Stellantis' top executive team since the company was established through a merger of Fiat Chrysler and French automaker PSA Groupe in January 2021."", 'He also served on the top board for Fiat Chrysler, under late CEO Sergio Marchionne.', ""Kuniskis' departure is the latest in a string of changes to the company since the automaker was established."", ""Recent changes have include a shuffle of Jeep's top executives; North America head Mark Stewart leaving to become CEO of Goodyear Tire and Rubber Co.; and a shakeup late last year of the company's international operations like the South America and Asia-Pacific regions, including China.""]",0.2612220211553282,"""I want to take the opportunity to warmly thank Tim for his passion, commitment and contributions to Stellantis and in defining the vision of the future electrified Ram and Dodge brands.","It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%.",0.1920280575752258,"""While the company did not invest in all-new products for Dodge, Kuniskis, a salesperson and marketer, was able to grow awareness and sales of the brand's Charger, Challenger and Durango vehicles over the years.","It has struggled with U.S. sales, which declined 1.2% last year in a market that grew 12.3%.",2024-05-21
+"Learning how to use AI could boost your pay by 25%, study finds",https://edition.cnn.com/2024/05/21/business/ai-jobs-higher-wages-productivity/index.html,"
+  Published
+        7:32 AM EDT, Tue May 21, 2024
+    ","Jobs that require artificial intelligence skills offer significantly higher wages than those that don’t, according to new research published Tuesday.
+    
+            Consultancy PwC studied advertisements, posted last year, for a range of jobs, including app programmers, lawyers and accountants. It found that wages for AI-related roles were on average 25% higher in the United States than for comparable jobs in the same field that did not require those skills.
+    
+            The premium was 14% in the United Kingdom, and 11% in Canada.
+    
+            The differences were particularly pronounced in certain professions: lawyers in the United States with AI skills could earn a 49% wage premium and financial analysts a 33% premium compared with workers in equivalent traditional jobs.
+    
+            PwC’s report is based on an analysis of more than 500 million job ads across 15 countries in North America, Europe and Asia.
+    
+            “Countries and sectors that have a high demand for AI skills tend to see higher wage premiums, especially if there is a scarcity of skilled professionals,” Mehdi Sahneh, senior economist at PwC UK, said in a statement.
+    
+            Between 2012 and 2023, the number of jobs requiring AI skills grew 3.5 times faster than the total of all jobs across the countries studied, according to the report.
+    
+            Barret Kupelian, chief economist at PwC UK, also noted that “the menu of skills required by employers in occupations exposed to AI is changing about 25% faster than those which aren’t.”
+    
+            “As pick-up of AI continues, this trend is likely to intensify, creating new roles whilst also reducing demand for some skills that can be done more efficiently using AI,” he added.
+    
+            The report also found that labor productivity in industries most exposed to AI — that is, those where AI can be more readily used to perform certain tasks, such as financial services — is growing 4.8 times faster than in other sectors.
+    
+            A company becomes more productive if it produces the same amount of goods or services, or more, with fewer staff or with its employees working fewer hours. Higher labor productivity is the key driver of higher living standards.
+    
+            “Productivity growth is crucial to boosting real wage growth and sustaining economic growth, particularly when the number of hours worked in an economy may be declining as populations are aging,” Randall Kroszner, a member of the Bank of England’s financial policy committee, said in speech Tuesday.
+    
+            Improving productivity is particularly important for certain countries, such as the United Kingdom where it has grown much more slowly since the global financial crisis than in the years before.
+    
+            “AI could be the missing piece of the UK’s productivity puzzle, bringing a boost to the economy, wages, and living standards,” said Sahneh at PwC.",CNN,21/05/2024,"['Jobs that require artificial intelligence skills offer significantly higher wages than those that don’t, according to new research published Tuesday.', 'Consultancy PwC studied advertisements, posted last year, for a range of jobs, including app programmers, lawyers and accountants.', 'It found that wages for AI-related roles were on average 25% higher in the United States than for comparable jobs in the same field that did not require those skills.', 'The premium was 14% in the United Kingdom, and 11% in Canada.', 'The differences were particularly pronounced in certain professions: lawyers in the United States with AI skills could earn a 49% wage premium and financial analysts a 33% premium compared with workers in equivalent traditional jobs.', 'PwC’s report is based on an analysis of more than 500 million job ads across 15 countries in North America, Europe and Asia.', '“Countries and sectors that have a high demand for AI skills tend to see higher wage premiums, especially if there is a scarcity of skilled professionals,” Mehdi Sahneh, senior economist at PwC UK, said in a statement.', 'Between 2012 and 2023, the number of jobs requiring AI skills grew 3.5 times faster than the total of all jobs across the countries studied, according to the report.', 'Barret Kupelian, chief economist at PwC UK, also noted that “the menu of skills required by employers in occupations exposed to AI is changing about 25% faster than those which aren’t.”', '“As pick-up of AI continues, this trend is likely to intensify, creating new roles whilst also reducing demand for some skills that can be done more efficiently using AI,” he added.', 'The report also found that labor productivity in industries most exposed to AI —that is, those where AI can be more readily used to perform certain tasks, such as financial services —is growing 4.8 times faster than in other sectors.', 'A company becomes more productive if it produces the same amount of goods or services, or more, with fewer staff or with its employees working fewer hours.', 'Higher labor productivity is the key driver of higher living standards.', '“Productivity growth is crucial to boosting real wage growth and sustaining economic growth, particularly when the number of hours worked in an economy may be declining as populations are aging,” Randall Kroszner, a member of the Bank of England’s financial policy committee, said in speech Tuesday.', 'Improving productivity is particularly important for certain countries, such as the United Kingdom where it has grown much more slowly since the global financial crisis than in the years before.', '“AI could be the missing piece of the UK’s productivity puzzle, bringing a boost to the economy, wages, and living standards,” said Sahneh at PwC.']",0.2684520284040836,"“Productivity growth is crucial to boosting real wage growth and sustaining economic growth, particularly when the number of hours worked in an economy may be declining as populations are aging,” Randall Kroszner, a member of the Bank of England’s financial policy committee, said in speech Tuesday.",,0.7970786690711975,"Improving productivity is particularly important for certain countries, such as the United Kingdom where it has grown much more slowly since the global financial crisis than in the years before.","“Countries and sectors that have a high demand for AI skills tend to see higher wage premiums, especially if there is a scarcity of skilled professionals,” Mehdi Sahneh, senior economist at PwC UK, said in a statement.",2024-05-21
+Frontier Airlines does away with change fees in budget airline pricing overhaul,https://www.cnbc.com/2024/05/17/frontier-airlines-change-fees-scrapped.html,2024-05-17T17:18:08+0000,"In this articleFrontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called ""junk fees.""The change is part of an overhaul announced on Friday of the budget airline's longtime pricing model, which brings customers in the door with eye-catching low base fares but charges a fee for everything else such as seating assignments and carry-on baggage. That model is shared by fellow discounter Spirit Airlines.Frontier said it will start offering packages that include some of those add-ons, among others, such as early boarding. While some fares will still allow travelers to add on options a la carte, ""we expect that option to be a minority of customers,"" Frontier CEO Barry Biffle told CNBC.A new ""economy"" bundle that comes with a carry-on and a seat assignment will start at $30 more than a basic fare, while a ""premium"" bundle that offers those perks plus earlier boarding will be $50 more than the basic fare. For at least $100 more than a basic fare, ""business"" bundle travelers will also be able to check two bags and get a seat at the front of the plane with more room.Last month, the U.S. Department of Transportation issued a final rule that requires airlines to tell customers about fees, including those for checked or carry-on baggage, up front, a change the DOT said would save travelers more than half a billion dollars a year.Frontier currently charges up to $99 to change flights if the change is made within a week of the trip, according to the airline's website. Larger rivals Delta, American and United scrapped change fees during the Covid-19 pandemic for travelers who were booked in standard economy class and above. Southwest Airlines does not charge customers to change their tickets.""The truth is the big four [U.S. airlines] all have no change fees on the majority of their products, so we were not as desirable,"" Biffle said. He said change fees were a ""top complaint"" of travelers. Travelers who buy the cheapest option on Frontier will still have to pay to change their flights.Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.",CNBC,17/05/2024,"['In this articleFrontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called ""junk fees.', '""The change is part of an overhaul announced on Friday of the budget airline\'s longtime pricing model, which brings customers in the door with eye-catching low base fares but charges a fee for everything else such as seating assignments and carry-on baggage.', 'That model is shared by fellow discounter Spirit Airlines.', 'Frontier said it will start offering packages that include some of those add-ons, among others, such as early boarding.', 'While some fares will still allow travelers to add on options a la carte, ""we expect that option to be a minority of customers,"" Frontier CEO Barry Biffle told CNBC.A new ""economy"" bundle that comes with a carry-on and a seat assignment will start at $30 more than a basic fare, while a ""premium"" bundle that offers those perks plus earlier boarding will be $50 more than the basic fare.', 'For at least $100 more than a basic fare, ""business"" bundle travelers will also be able to check two bags and get a seat at the front of the plane with more room.', 'Last month, the U.S. Department of Transportation issued a final rule that requires airlines to tell customers about fees, including those for checked or carry-on baggage, up front, a change the DOT said would save travelers more than half a billion dollars a year.', ""Frontier currently charges up to $99 to change flights if the change is made within a week of the trip, according to the airline's website."", 'Larger rivals Delta, American and United scrapped change fees during the Covid-19 pandemic for travelers who were booked in standard economy class and above.', 'Southwest Airlines does not charge customers to change their tickets.', '""The truth is the big four [U.S. airlines] all have no change fees on the majority of their products, so we were not as desirable,"" Biffle said.', 'He said change fees were a ""top complaint"" of travelers.', 'Travelers who buy the cheapest option on Frontier will still have to pay to change their flights.', 'Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.']",0.0549664497380016,"Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.","""The change is part of an overhaul announced on Friday of the budget airline's longtime pricing model, which brings customers in the door with eye-catching low base fares but charges a fee for everything else such as seating assignments and carry-on baggage.",0.3490889271100362,"Frontier also said flight credits would be valid for 12 months, up from three months, starting with tickets issued on Friday, and that it will reintroduce live phone support for travelers flying within 24 hours or to elite members of its frequent flyer program.","""The truth is the big four [U.S. airlines] all have no change fees on the majority of their products, so we were not as desirable,"" Biffle said.",2024-05-21
+Jamie Dimon says JPMorgan stock is too expensive: 'We're not going to buy back a lot',https://www.cnbc.com/2024/05/20/jamie-dimon-jpmorgan-stock-too-expensive.html,2024-05-20T20:44:19+0000,"In this articleJamie Dimon thinks shares of JPMorgan Chase are expensive.That was the message the bank's longtime CEO gave analysts Monday during JPMorgan's annual investor meeting. When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words.""I want to make it really clear, OK? We're not going to buy back a lot of stock at these prices,"" Dimon said.JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock. That 12-month performance beats other banks, especially smaller firms recovering from the 2023 regional banking crisis.It also makes the stock relatively pricey as measured by price to tangible book value, a commonly used industry metric. JPMorgan shares traded recently for around 2.4 times book value.""Buying back stock of a financial company greatly in excess of two times tangible book is a mistake,"" Dimon said. ""We aren't going to do it.""Dimon's comments about his company's stock, as well as an acknowledgement that he may be nearing retirement, sent the bank's shares down 4.5% Monday.To be clear, JPMorgan has been repurchasing its stock under a previously authorized buyback plan. The bank resumed buybacks early last year after taking a pause to build up capital under new expected guidelines.Dimon's guidance simply means it is unlikely the program will be boosted anytime soon. JPMorgan is likely to purchase shares at a $2 billion to $2.5 billion quarterly clip, Portales Partners analyst Charles Peabody wrote in a March research note.The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted. When interest rates were low, Dimon kept relatively high levels of cash, rather than plowing funds into low-yielding, long-term bonds. That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.Dimon's desire to hoard cash is not just because of impending capital rules. On multiple occasions Monday, he said he was ""cautiously pessimistic"" about economic risks, including those tied to inflation, interest rates, geopolitics and the reversal of the Federal Reserve's bond-buying programs.Markets are currently underappreciating those risks, Dimon said. For instance, prices of high-quality corporate bonds do not adequately reflect the potential for financial stress, Dimon said.""The investment grade credit spread, which is almost the lowest it's ever been, will be dead wrong,"" Dimon said. ""It's just a matter of time.""Since 2022, Dimon has warned of an economic ""hurricane"" set off by geopolitical risks and quantitative tightening. While the continued strength of the economy has surprised many on Wall Street, including Dimon, his concerns have informed his decision-making process ever since.""We've been very, very consistent — if the stock goes up, we'll buy less,"" he said Monday. ""When it comes down, we'll buy more.""",CNBC,20/05/2024,"['In this articleJamie Dimon thinks shares of JPMorgan Chase are expensive.', ""That was the message the bank's longtime CEO gave analysts Monday during JPMorgan's annual investor meeting."", ""When pressed about the timing of a potential boost to the bank's share repurchase program, Dimon did not mince words."", '""I want to make it really clear, OK?', 'We\'re not going to buy back a lot of stock at these prices,"" Dimon said.', ""JPMorgan, the biggest U.S. bank by assets, has seen its shares surge 40% over the past year, reaching a 52-week high of $205.88 on Monday before Dimon's comments dinged the stock."", 'That 12-month performance beats other banks, especially smaller firms recovering from the 2023 regional banking crisis.', 'It also makes the stock relatively pricey as measured by price to tangible book value, a commonly used industry metric.', 'JPMorgan shares traded recently for around 2.4 times book value.', '""Buying back stock of a financial company greatly in excess of two times tangible book is a mistake,"" Dimon said. ""', ""We aren't going to do it."", '""Dimon\'s comments about his company\'s stock, as well as an acknowledgement that he may be nearing retirement, sent the bank\'s shares down 4.5% Monday.', 'To be clear, JPMorgan has been repurchasing its stock under a previously authorized buyback plan.', 'The bank resumed buybacks early last year after taking a pause to build up capital under new expected guidelines.', ""Dimon's guidance simply means it is unlikely the program will be boosted anytime soon."", 'JPMorgan is likely to purchase shares at a $2 billion to $2.5 billion quarterly clip, Portales Partners analyst Charles Peabody wrote in a March research note.', 'The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted.', 'When interest rates were low, Dimon kept relatively high levels of cash, rather than plowing funds into low-yielding, long-term bonds.', 'That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.', ""Dimon's desire to hoard cash is not just because of impending capital rules."", 'On multiple occasions Monday, he said he was ""cautiously pessimistic"" about economic risks, including those tied to inflation, interest rates, geopolitics and the reversal of the Federal Reserve\'s bond-buying programs.', 'Markets are currently underappreciating those risks, Dimon said.', 'For instance, prices of high-quality corporate bonds do not adequately reflect the potential for financial stress, Dimon said.', '""The investment grade credit spread, which is almost the lowest it\'s ever been, will be dead wrong,"" Dimon said. ""', ""It's just a matter of time."", '""Since 2022, Dimon has warned of an economic ""hurricane"" set off by geopolitical risks and quantitative tightening.', 'While the continued strength of the economy has surprised many on Wall Street, including Dimon, his concerns have informed his decision-making process ever since.', '""We\'ve been very, very consistent — if the stock goes up, we\'ll buy less,"" he said Monday. ""', 'When it comes down, we\'ll buy more.""']",0.0939214802653052,"""I want to make it really clear, OK?","""The investment grade credit spread, which is almost the lowest it's ever been, will be dead wrong,"" Dimon said. """,-0.1596055142581462,"That helped JPMorgan outperform other lenders, including Bank of America, when interest rates jumped higher.","""Dimon's comments about his company's stock, as well as an acknowledgement that he may be nearing retirement, sent the bank's shares down 4.5% Monday.",2024-05-21
+"Spirit Airlines gets rid of change and cancellation fees, joining Frontier",https://www.cnbc.com/2024/05/20/spirit-airlines-ends-change-fees.html,2024-05-20T16:42:47+0000,"In this articleSpirit Airlines is doing away with both change and cancellation fees, effective immediately, days after Frontier's similar announcement, part of an overhaul of the country's biggest discount carriers' longtime strategy.Prior to the new rule, Spirit used to charge anywhere between $69 and $119 for ticket changes and cancellations, depending on how close to departure the customer made the change.""This new policy is among the best in the industry because it applies to each and every guest,"" Spirit said in a statement to CNBC. ""We have many other enhancements in the works and look forward to sharing more soon.""The changes mark a shift for budget airlines' longtime pricing approach, which includes low base fares to attract customers and add-on fees for advanced seating assignments, bottled water and cabin baggage. Ancillary revenue routinely surpasses those airlines' ticket prices.""As we continue to see the demand and competitive environments develop, we know that we must also change with the times,"" Spirit's Chief Commercial Officer Matt Klein said on an earnings call earlier this month. ""We will continue to test out new merchandising strategies, which we anticipate will change how we think about the components of total revenue generation.""Both Spirit and Frontier are trying to return to profitability in the wake of the Covid-19 pandemic, while larger airlines that offer both bare-bones fares to domestic destinations and big international networks have posted profits.Most larger rivals such as Delta, American, Alaska and United got rid of change fees during the pandemic except for the cheapest, most restrictive tickets. Southwest Airlines does not charge customers a flight-change fee.Along with getting rid of change fees, Frontier also announced Friday that it will start offering bundles that include add-on options such as early boarding and checked baggage that they previously offered a la carte. Spirit is also offering bundled packages with varying prices that include perks such as checked bags.President Joe Biden and the Department of Transportation have been cracking down on what they deem ""junk fees."" As part of that push, the DOT issued a new rule requiring airlines to be upfront about add-on fees such as those for checked or carry-on baggage, which was subsequently challenged by a slew of airlines.Spirit said the end of cancellation fees were not tied to the new rules.The Biden administration also recently issued a new rule requiring airlines to offer automatic cash refunds for cancellations rather than in response to a customer's request.",CNBC,20/05/2024,"[""In this articleSpirit Airlines is doing away with both change and cancellation fees, effective immediately, days after Frontier's similar announcement, part of an overhaul of the country's biggest discount carriers' longtime strategy."", 'Prior to the new rule, Spirit used to charge anywhere between $69 and $119 for ticket changes and cancellations, depending on how close to departure the customer made the change.', '""This new policy is among the best in the industry because it applies to each and every guest,"" Spirit said in a statement to CNBC. ""', 'We have many other enhancements in the works and look forward to sharing more soon.', '""The changes mark a shift for budget airlines\' longtime pricing approach, which includes low base fares to attract customers and add-on fees for advanced seating assignments, bottled water and cabin baggage.', ""Ancillary revenue routinely surpasses those airlines' ticket prices."", '""As we continue to see the demand and competitive environments develop, we know that we must also change with the times,"" Spirit\'s Chief Commercial Officer Matt Klein said on an earnings call earlier this month. ""', 'We will continue to test out new merchandising strategies, which we anticipate will change how we think about the components of total revenue generation.', '""Both Spirit and Frontier are trying to return to profitability in the wake of the Covid-19 pandemic, while larger airlines that offer both bare-bones fares to domestic destinations and big international networks have posted profits.', 'Most larger rivals such as Delta, American, Alaska and United got rid of change fees during the pandemic except for the cheapest, most restrictive tickets.', 'Southwest Airlines does not charge customers a flight-change fee.', 'Along with getting rid of change fees, Frontier also announced Friday that it will start offering bundles that include add-on options such as early boarding and checked baggage that they previously offered a la carte.', 'Spirit is also offering bundled packages with varying prices that include perks such as checked bags.', 'President Joe Biden and the Department of Transportation have been cracking down on what they deem ""junk fees.""', 'As part of that push, the DOT issued a new rule requiring airlines to be upfront about add-on fees such as those for checked or carry-on baggage, which was subsequently challenged by a slew of airlines.', 'Spirit said the end of cancellation fees were not tied to the new rules.', ""The Biden administration also recently issued a new rule requiring airlines to offer automatic cash refunds for cancellations rather than in response to a customer's request.""]",0.2186504330868678,"""This new policy is among the best in the industry because it applies to each and every guest,"" Spirit said in a statement to CNBC. """,,0.5704053997993469,"""Both Spirit and Frontier are trying to return to profitability in the wake of the Covid-19 pandemic, while larger airlines that offer both bare-bones fares to domestic destinations and big international networks have posted profits.","President Joe Biden and the Department of Transportation have been cracking down on what they deem ""junk fees.""",2024-05-21
+Red Lobster files for Chapter 11 bankruptcy protection,https://www.cnbc.com/2024/05/20/red-lobster-bankruptcy.html,2024-05-20T19:51:14+0000,"Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement.The seafood chain also said it has a so-called stalking horse bid from its existing lenders to buy the company, unless a higher bid comes along.CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain's need to file for Chapter 11 protection.The chain's real estate portfolio is also a ""huge problem"" created, in part, by Red Lobster's former owners Golden Gate Capital, a source familiar with the company told CNBC. When Darden Restaurants sold Red Lobster to the private equity firm in 2014, it funded the $2.1 billion acquisition partially through a $1.5 billion sale-leaseback agreement, the companies said previously. Under the terms of the arrangement, the majority, if not all, of Red Lobster's locations were sold off, and the chain had to start paying rent on properties it once owned while Golden Gate reaped the profits, the source said. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. Given how much revenue has fallen, the chain can no longer afford those leases.Red Lobster currently operates 551 locations in the U.S. and 27 restaurants in Canada. The chain closed 93 underperforming locations on May 13 and is asking the bankruptcy court to reject 108 of its leases to further slim down its footprint.The company has 36,000 employees, most of whom work in part-time roles.Orlando, Florida-based Red Lobster has assets between $1 billion and $10 billion and estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing. Its largest creditor is distributor Performance Food Group, which is claiming the company owes it $24.4 million.""This restructuring is the best path forward for Red Lobster,"" Tibus said in a statement late Sunday. ""It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth. The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.""Red Lobster was founded in 1968 and purchased by General Mills two years later. In 1995, General Mills spun off its restaurant division into Darden, which also housed sister chain Olive Garden.Nearly two decades later, Darden sold Red Lobster to Golden Gate. In 2016, Thai Union Group, a seafood supplier and one of the chain's longtime vendors, bought a stake in the company. In 2020, Thai Union, members of Red Lobster management and investors using the alias Seafood Alliance bought out Golden Gate's remaining stake in the chain.Although Red Lobster survived the pandemic, its business has struggled since then. The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing.The company's longtime CEO, Kim Lopdrup, also retired in 2021, beginning a revolving door of CEOs that left the chain with little stability to turn around the flailing business. Tibus is Red Lobster's third chief executive in as many years.In fiscal 2023, the company reported a net loss of $76 million. Some of that loss was driven by its disastrous ""endless shrimp"" promotion. Last year, it changed the offer from once a week to daily in an effort to boost slower sales in the second half of the year. But the offer juiced business too much as diners sought cheap deals, pressuring Red Lobster's bottom line.According to a court filing, the ill-conceived promotion's actual aim may have been more about boosting Thai Union's own sales. Red Lobster got rid of two of its shrimp suppliers under interim CEO Paul Kenny's leadership, leaving Thai Union as its sole supplier of the crustacean. That decision led to higher costs for Red Lobster, according to the filing. The debtors are also investigating if Thai Union and Kenny pushed excessively for in-store promotions, which often led to major shortages of shrimp.Correction: Performance Food Group is claiming Red Lobster owes it $24.4 million. An earlier version misstated the figure.",CNBC,20/05/2024,"['Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement.', 'The seafood chain also said it has a so-called stalking horse bid from its existing lenders to buy the company, unless a higher bid comes along.', 'CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases.', 'The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain\'s need to file for Chapter 11 protection.', 'The chain\'s real estate portfolio is also a ""huge problem"" created, in part, by Red Lobster\'s former owners Golden Gate Capital, a source familiar with the company told CNBC.', 'When Darden Restaurants sold Red Lobster to the private equity firm in 2014, it funded the $2.1 billion acquisition partially through a $1.5 billion sale-leaseback agreement, the companies said previously.', ""Under the terms of the arrangement, the majority, if not all, of Red Lobster's locations were sold off, and the chain had to start paying rent on properties it once owned while Golden Gate reaped the profits, the source said."", 'At the time, it was tough to predict that Red Lobster would see sales drop as much as they have.', 'Given how much revenue has fallen, the chain can no longer afford those leases.', 'Red Lobster currently operates 551 locations in the U.S. and 27 restaurants in Canada.', 'The chain closed 93 underperforming locations on May 13 and is asking the bankruptcy court to reject 108 of its leases to further slim down its footprint.', 'The company has 36,000 employees, most of whom work in part-time roles.', 'Orlando, Florida-based Red Lobster has assets between $1 billion and $10 billion and estimated liabilities of $1 billion to $10 billion, according to the bankruptcy filing.', 'Its largest creditor is distributor Performance Food Group, which is claiming the company owes it $24.4 million.', '""This restructuring is the best path forward for Red Lobster,"" Tibus said in a statement late Sunday. ""', 'It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.', ""The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests."", '""Red Lobster was founded in 1968 and purchased by General Mills two years later.', 'In 1995, General Mills spun off its restaurant division into Darden, which also housed sister chain Olive Garden.', 'Nearly two decades later, Darden sold Red Lobster to Golden Gate.', ""In 2016, Thai Union Group, a seafood supplier and one of the chain's longtime vendors, bought a stake in the company."", ""In 2020, Thai Union, members of Red Lobster management and investors using the alias Seafood Alliance bought out Golden Gate's remaining stake in the chain."", 'Although Red Lobster survived the pandemic, its business has struggled since then.', ""The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing."", ""The company's longtime CEO, Kim Lopdrup, also retired in 2021, beginning a revolving door of CEOs that left the chain with little stability to turn around the flailing business."", ""Tibus is Red Lobster's third chief executive in as many years."", 'In fiscal 2023, the company reported a net loss of $76 million.', 'Some of that loss was driven by its disastrous ""endless shrimp"" promotion.', 'Last year, it changed the offer from once a week to daily in an effort to boost slower sales in the second half of the year.', ""But the offer juiced business too much as diners sought cheap deals, pressuring Red Lobster's bottom line."", ""According to a court filing, the ill-conceived promotion's actual aim may have been more about boosting Thai Union's own sales."", ""Red Lobster got rid of two of its shrimp suppliers under interim CEO Paul Kenny's leadership, leaving Thai Union as its sole supplier of the crustacean."", 'That decision led to higher costs for Red Lobster, according to the filing.', 'The debtors are also investigating if Thai Union and Kenny pushed excessively for in-store promotions, which often led to major shortages of shrimp.', 'Correction: Performance Food Group is claiming Red Lobster owes it $24.4 million.', 'An earlier version misstated the figure.']",-0.0049559407481681,The support we've received from our lenders and vendors will help ensure that we can complete the sale process quickly and efficiently while remaining focused on our employees and guests.,"The company recently appointed a restructuring expert — Jonathan Tibus, a managing partner with advisory firm Alvarez & Marsal — as its CEO.In a court filing, Tibus blamed a ""difficult macroeconomic environment, a bloated and underperforming restaurant footprint, failed or ill-advised strategic initiatives, and increased competition within the restaurant industry"" for the chain's need to file for Chapter 11 protection.",-0.3631059433284558,It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.,"The chain's traffic has tumbled about 30% since 2019, according to the bankruptcy filing.",2024-05-21
+Canada Goose jumps 16% after the company reports growth surge in China,https://www.cnbc.com/2024/05/16/canada-goose-goos-q4-earnings-report-2024.html,2024-05-16T20:34:21+0000,"In this articleShares of Canada Goose surged 16% on Thursday after the company reported earnings for the fiscal fourth quarter and announced it was expecting year-over-year sales growth for fiscal year 2025.Here's how the company did:Revenue increased 22% from the same period a year ago.Neil Bowden, Canada Goose's chief financial officer, said on an earnings call with analysts that store comparisons were ""relatively flat,"" but year-over-year sales growth for the period was led by locations in Greater China — the region comprising Mainland China, Hong Kong, Macau and Taiwan — which saw a 29.7% increase. The broader Asia-Pacific region excluding Greater China was up 29.1%, and North American sales saw an increase of 24.5%.Net income for the fiscal fourth quarter ended March 31 swung to CA$7.6 million, or 5 Canadian cents per share, from a loss of CA$10 million, or 3 Canadian cents per share, in the year-earlier period.Bowden said the growth was supported by domestic shopping on the Chinese mainland, as well as mainland tourists driving ""strong growth"" in Hong Kong and Macao.Online and in-store sales for the period, he added, were ""bolstered by the company's Lunar New Year marketing campaign and complemented by a longer peak selling period, given the later date of the Lunar New Year compared to last year.""Moving forward, the finance chief said the company is expecting mid-single-digit percentage revenue growth the next fiscal year, which he expects will be guided by advances in the direct-to-consumer business. He also said he expects comparable store sales to grow ""somewhere in the low single digits.""Bowden said Canada Goose's business increase in China and Asia Pacific over the past three months is in line with the view of mid-single-digit growth for the luxury business. North America, however, has been under ""a little bit more pressure,"" he said.This upbeat performance comes after the company announced back in March that it was going to cut 17% of its corporate workforce. Canada Goose reported the layoffs had generated about CA$20 million (US$14.7 million) in productivity improvements and cost savings for the fiscal fourth quarter.",CNBC,16/05/2024,"[""In this articleShares of Canada Goose surged 16% on Thursday after the company reported earnings for the fiscal fourth quarter and announced it was expecting year-over-year sales growth for fiscal year 2025.Here's how the company did:Revenue increased 22% from the same period a year ago."", 'Neil Bowden, Canada Goose\'s chief financial officer, said on an earnings call with analysts that store comparisons were ""relatively flat,"" but year-over-year sales growth for the period was led by locations in Greater China — the region comprising Mainland China, Hong Kong, Macau and Taiwan — which saw a 29.7% increase.', 'The broader Asia-Pacific region excluding Greater China was up 29.1%, and North American sales saw an increase of 24.5%.Net income for the fiscal fourth quarter ended March 31 swung to CA$7.6 million, or 5 Canadian cents per share, from a loss of CA$10 million, or 3 Canadian cents per share, in the year-earlier period.', 'Bowden said the growth was supported by domestic shopping on the Chinese mainland, as well as mainland tourists driving ""strong growth"" in Hong Kong and Macao.', 'Online and in-store sales for the period, he added, were ""bolstered by the company\'s Lunar New Year marketing campaign and complemented by a longer peak selling period, given the later date of the Lunar New Year compared to last year.', '""Moving forward, the finance chief said the company is expecting mid-single-digit percentage revenue growth the next fiscal year, which he expects will be guided by advances in the direct-to-consumer business.', 'He also said he expects comparable store sales to grow ""somewhere in the low single digits.', '""Bowden said Canada Goose\'s business increase in China and Asia Pacific over the past three months is in line with the view of mid-single-digit growth for the luxury business.', 'North America, however, has been under ""a little bit more pressure,"" he said.', 'This upbeat performance comes after the company announced back in March that it was going to cut 17% of its corporate workforce.', 'Canada Goose reported the layoffs had generated about CA$20 million (US$14.7 million) in productivity improvements and cost savings for the fiscal fourth quarter.']",0.3174784119382864,"Bowden said the growth was supported by domestic shopping on the Chinese mainland, as well as mainland tourists driving ""strong growth"" in Hong Kong and Macao.","North America, however, has been under ""a little bit more pressure,"" he said.",0.8158493746410717,"The broader Asia-Pacific region excluding Greater China was up 29.1%, and North American sales saw an increase of 24.5%.Net income for the fiscal fourth quarter ended March 31 swung to CA$7.6 million, or 5 Canadian cents per share, from a loss of CA$10 million, or 3 Canadian cents per share, in the year-earlier period.","North America, however, has been under ""a little bit more pressure,"" he said.",2024-05-21
+"Netflix ad-supported tier has 40 million monthly users, nearly double previous count",https://www.cnbc.com/2024/05/15/netflix-ad-tier-has-40-million-users.html,2024-05-15T20:49:56+0000,"In this articleNetflix's cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday.That's nearly double the 23 million figure the streaming giant shared in January.The company also said it would launch its own advertising platform and no longer partner with Microsoft for that technology. The tech giant will remain a programmatic advertising partner, but will also be joined by other ad tech companies including The Trade Desk, Google Display & Video 360 and Magnite.Netflix will begin testing its ad tech platform in Canada later this year and plans to launch it in the U.S. by the end of the second quarter next year. The company aims to set the platform live everywhere by the end of 2025.The announcements came on Wednesday alongside Netflix's Upfront presentation, designed to woo advertisers. The streaming giant joined its media peers for the second time in making an annual pitch to lock in advertising for its platform.Earlier on Wednesday the company said it reached a deal to stream two National Football League games on Christmas Day this year, and at least one matchup on the same day in both 2025 and 2026.Netflix has the option to host one or two games in future years, with 2024 serving as a test, co-CEO Ted Sarandos told CNBC on Wednesday.It marks Netflix's first real foray into live sports after years of resistance. Sports, particularly the NFL, has proven to be the glue that keeps traditional TV intact — and has also proven to be a boost to streaming services.Terms of the NFL deal were not disclosed, but people familiar with the matter said Netflix will pay in the ballpark of $75 million per game. Spokespeople for the NFL and Netflix declined to comment.The streamer will hire its own announcers for the games and partner with existing production companies. Sarandos told CNBC he felt the NFL was the right fit because it matched the streamer's event strategy, allowing Netflix to effectively own the day.Netflix first introduced its ad-supported subscription plan in November 2022 as part of a wider effort to drive revenue amid slowing subscriber growth. That strategy included last year's password-sharing crackdown.Since then Netflix has been moving at breakneck speed to grow its ad-supported customer base, after admittedly being slow to join the pack. As part of that effort, Netflix got rid of its cheapest commercial-free plan in the U.S. and U.K.The company said Wednesday that 40% of all signups in countries that have the ad tier available are for that cheaper plan. Netflix now has 270 million total subscribers.For comparison, Disney's flagship service Disney+ has 117.6 million global subscribers, while Warner Bros. Discovery's streaming unit, led by Max, has 99.6 million. Those two companies recently announced they would offer a streaming bundle in order to prevent subscribers from dropping subscriptions and help them to make their streaming businesses profitable.Meanwhile, fledgling competitors are adding quarterly subscribers, but still trail. Comcast's Peacock had 34 million customers as of the most recent quarter, while Paramount Global's Paramount+ had 71 million.Netflix's monthly active ad-tier user figures come just a month after Netflix told investors it would no longer be providing quarterly subscriber number updates. The company said at the time that it was generating substantial profit and free cash flow and that its membership numbers were not the only factor in the company's growth. It said the metric lost significance after it started to offer multiple price points for memberships.Meanwhile, linear TV audiences continue to shrink and traditional media companies seek to gain a foothold in the streaming realm.Legacy media companies have suffered in recent quarters as the advertising market collapsed due to fears of a recession and surging interest rates. Companies typically pullback on advertising spending during times of economic uncertainty.But with a long runway ahead of it in the streaming business, Netflix has established itself as the leader in the segment as many other companies struggle to make their streaming platforms profitable.Disney executives recently referred to Netflix as the ""gold standard"" of streaming, and also noted that there's been additional supply in the ad market due to a competitor that recently entered the game, likely referencing Netflix.Media companies recently reported quarterly earnings, which showed the advertising market for traditional TV is still soft, albeit improving. Digital and streaming advertising, however, has been on the rebound.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,15/05/2024,"[""In this articleNetflix's cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday."", ""That's nearly double the 23 million figure the streaming giant shared in January."", 'The company also said it would launch its own advertising platform and no longer partner with Microsoft for that technology.', 'The tech giant will remain a programmatic advertising partner, but will also be joined by other ad tech companies including The Trade Desk, Google Display & Video 360 and Magnite.', 'Netflix will begin testing its ad tech platform in Canada later this year and plans to launch it in the U.S. by the end of the second quarter next year.', ""The company aims to set the platform live everywhere by the end of 2025.The announcements came on Wednesday alongside Netflix's Upfront presentation, designed to woo advertisers."", 'The streaming giant joined its media peers for the second time in making an annual pitch to lock in advertising for its platform.', 'Earlier on Wednesday the company said it reached a deal to stream two National Football League games on Christmas Day this year, and at least one matchup on the same day in both 2025 and 2026.Netflix has the option to host one or two games in future years, with 2024 serving as a test, co-CEO Ted Sarandos told CNBC on Wednesday.', ""It marks Netflix's first real foray into live sports after years of resistance."", 'Sports, particularly the NFL, has proven to be the glue that keeps traditional TV intact — and has also proven to be a boost to streaming services.', 'Terms of the NFL deal were not disclosed, but people familiar with the matter said Netflix will pay in the ballpark of $75 million per game.', 'Spokespeople for the NFL and Netflix declined to comment.', 'The streamer will hire its own announcers for the games and partner with existing production companies.', ""Sarandos told CNBChe felt the NFL was the right fit because it matched the streamer's event strategy, allowing Netflix to effectively own the day."", 'Netflix first introduced its ad-supported subscription plan in November 2022 as part of a wider effort to drive revenueamid slowing subscriber growth.', ""That strategy included last year'spassword-sharing crackdown."", 'Since then Netflix has been moving at breakneck speed to grow its ad-supported customer base, after admittedly being slow to join the pack.', 'As part of that effort, Netflix got rid of its cheapest commercial-free plan in the U.S. and U.K.The company said Wednesday that 40% of all signups in countries that have the ad tier available are for that cheaper plan.', 'Netflix now has 270 million total subscribers.', ""For comparison, Disney's flagship service Disney+ has 117.6 million global subscribers, while Warner Bros. Discovery's streaming unit, led by Max, has 99.6 million."", 'Those two companies recently announced they would offer a streaming bundle in order to prevent subscribers from dropping subscriptions and help them to make their streaming businesses profitable.', 'Meanwhile, fledgling competitors are adding quarterly subscribers, but still trail.', ""Comcast's Peacock had 34 million customers as of the most recent quarter, while Paramount Global's Paramount+ had 71 million."", ""Netflix's monthly active ad-tier user figures come just a month after Netflix told investors it would no longer be providing quarterly subscriber number updates."", ""The company said at the time that it was generating substantial profit and free cash flow and that its membership numbers were not the only factor in the company's growth."", 'It said the metric lost significance after it started to offer multiple price points for memberships.', 'Meanwhile, linear TV audiences continue to shrink and traditional media companies seek to gain a foothold in the streaming realm.', 'Legacy media companies have suffered in recent quarters as the advertising market collapsed due to fears of a recession and surging interest rates.', 'Companies typically pullback on advertising spending during times of economic uncertainty.', 'But with a long runway ahead of it in the streaming business, Netflix has established itself as the leader in the segment as many other companies struggle to make their streaming platforms profitable.', 'Disney executives recently referred to Netflix as the ""gold standard"" of streaming, and also noted that there\'s been additional supply in the ad market due to a competitor that recently entered the game, likely referencing Netflix.', 'Media companies recently reported quarterly earnings, which showed the advertising market for traditional TV is still soft, albeit improving.', 'Digital and streaming advertising, however, has been on the rebound.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.183909881741724,The company said at the time that it was generating substantial profit and free cash flow and that its membership numbers were not the only factor in the company's growth.,Legacy media companies have suffered in recent quarters as the advertising market collapsed due to fears of a recession and surging interest rates.,0.5293343976924294,"Sports, particularly the NFL, has proven to be the glue that keeps traditional TV intact — and has also proven to be a boost to streaming services.",Legacy media companies have suffered in recent quarters as the advertising market collapsed due to fears of a recession and surging interest rates.,2024-05-21
+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.",,2024-05-21
+Federal regulators are investigating fatal crash of VinFast EV,https://edition.cnn.com/2024/05/21/cars/vinfast-regulators-investigating-fatal-crash-ev/index.html,"
+  Updated
+        2:09 PM EDT, Tue May 21, 2024
+    ","Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about.
+    
+            The VinFast VF8, made by the Vietnamese automaker founded in 2017, veered off the road and crashed into a pole and then a tree before catching fire, according to a complaint posted on the National Highway Traffic Safety Administration’s web site. Someone claiming to be the vehicle’s owner filed the complaint.
+    
+            The SUV was being driven by one of the owner’s coworkers with the coworker’s family when the fatal crash occurred, according to the complaint. The occupants killed included two children in the back seat.
+    
+            The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash.
+    
+            Earlier, while the owner was driving, the same vehicle had unexpectedly steered to the right, according to the complaint, in at least two instances. In at least one of those cases, the SUV’s automatic driving assistance features, designed to automatically help the vehicle steer within its own lane, were turned on “by default.” The driver was able to regain control, bringing the vehicle back into the proper lane, according to the complaint.
+    
+            “The contact was concerned that the failure recurred while the coworker was driving,” the complaint said.
+    
+            It’s not clear if the vehicle’s Advanced Driving Assistance features were involved in the fatal crash. NHTSA has been investigating numerous incidents involving vehicles from a number of automakers, including Tesla and Ford, in which ADAS systems were in use at the time. Media reports, citing local police, have said that speed was a factor in the crash.
+    
+            NHTSA’s Special Crash Investigations unit, which investigates incidents deemed to be of particular interest due to unusual circumstances or new technologies involved, will “document the crash circumstances and the ensuing fire,” according a statement from the agency.
+    
+            “VinFast and NHTSA are working cooperatively to determine the causes of the tragic crash in Pleasanton. NHTSA is not investigating VinFast,” VinFast said in a statement provided to CNN. “The Pleasanton police are currently investigating the cause of the accident and will share their findings when their work is completed.”",CNN,21/05/2024,"['Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about.', 'The VinFast VF8, made by the Vietnamese automaker founded in 2017, veered off the road and crashed into a pole and then a tree before catching fire, according to a complaint posted on the National Highway Traffic Safety Administration’s web site.', 'Someone claiming to be the vehicle’s owner filed the complaint.', 'The SUV was being driven by one of the owner’s coworkers with the coworker’s family when the fatal crash occurred, according to the complaint.', 'The occupants killed included two children in the back seat.', 'The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash.', 'Earlier, while the owner was driving, the same vehicle had unexpectedly steered to the right, according to the complaint, in at least two instances.', 'In at least one of those cases, the SUV’s automatic driving assistance features, designed to automatically help the vehicle steer within its own lane, were turned on “by default.”', 'The driver was able to regain control, bringing the vehicle back into the proper lane, according to the complaint.', '“The contact was concerned that the failure recurred while the coworker was driving,” the complaint said.', 'It’s not clear if the vehicle’s Advanced Driving Assistance features were involved in the fatal crash.', 'NHTSA has been investigating numerous incidents involving vehicles from a number of automakers, including Tesla and Ford, in which ADAS systems were in use at the time.', 'Media reports, citing local police, have said that speed was a factor in the crash.', 'NHTSA’s Special Crash Investigations unit, which investigates incidents deemed to be of particular interest due to unusual circumstances or new technologies involved, will “document the crash circumstances and the ensuing fire,” according a statement from the agency.', '“VinFast and NHTSA are working cooperatively to determine the causes of the tragic crash in Pleasanton.', 'NHTSA is not investigating VinFast,” VinFast said in a statement provided to CNN. “', 'The Pleasanton police are currently investigating the cause of the accident and will share their findings when their work is completed.”']",-0.396597053621507,"In at least one of those cases, the SUV’s automatic driving assistance features, designed to automatically help the vehicle steer within its own lane, were turned on “by default.”","Federal regulators are investigating a California crash that killed four occupants who rode in a VinFast electric SUV, which had automated steering features the owner had earlier complained about.",-0.2596213221549988,"The driver was able to regain control, bringing the vehicle back into the proper lane, according to the complaint.","The vehicle owner had complained about the performance of the SUV’s automated steering, although it’s not clear if that was a factor in the crash.",2024-05-21
+"Nissan delays shift to EVs at Mississippi factory, postponing five new models",https://edition.cnn.com/2024/05/21/cars/nissan-evs-mississippi-factory/index.html,"
+  Published
+        3:30 PM EDT, Tue May 21, 2024
+    ","Nissan is postponing a push to build new electric vehicles at its Canton, Mississippi, factory as sales of EVs are now growing more slowly than many industry experts had expected.
+    
+            EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book. First quarter EV sales last year had outpaced 2022’s by a stunning 46.4%.
+    
+            Many in the industry had expected interest in EVs to accelerate, not slow down. But consumers are concerned about the high prices of EVs and worried about being able to charge them easily, according to the consumer survey company JD Power. These concerns have led to recent drops in customer consideration of EVs.
+    
+            Currently, Nissan sells two EV models in the US, the Leaf compact hatchback and the Ariya SUV, but had announced plans to build five new EV models in Canton including two originally scheduled for production in 2025. The new models were set to include both Nissan and Infiniti vehicles. Infiniti is Nissan’s luxury brand. Nissan is delaying plans to actually begin producing the vehicles in Mississippi.
+    
+            “We are adjusting the timeline for the introduction of these five new models to ensure we bring the vehicles to the market at the right time, prioritizing in line with customer demand and maximizing the opportunity for our brands and supplier partners,” Nissan said in a statement emailed to CNN.
+    
+            These latest delays were previously reported by the industry newspaper Automotive News.
+    
+            Nissan still plans to offer a total of 19 EV models globally by 2030, a spokesperson said.
+    
+            Nissan previously announced it would invest $500 million in the factory to prepare it build the new electric vehicles. The factory in Canton currently employs roughly 5,000 workers and makes the Nissan Altima sedan Frontier, Titan, and Titan XD pickups. 
+    
+            Other automakers have also made moves to slow production of new EVs and EV batteries citing concerns about slowing consumer adoption. Last year, GM slowed down a planned ramp up in production of its Silverado EV pickup. Ford also reduced the planned size of a factory it’s building to make EV batteries.",CNN,21/05/2024,"['Nissan is postponing a push to build new electric vehicles at its Canton, Mississippi, factory as sales of EVs are now growing more slowly than many industry experts had expected.', 'EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book.', 'First quarter EV sales last year had outpaced 2022’s by a stunning 46.4%.', 'Many in the industry had expected interest in EVs to accelerate, not slow down.', 'But consumers are concerned about the high prices of EVs and worried about being able to charge them easily, according to the consumer survey company JD Power.', 'These concerns have led to recent drops in customer consideration of EVs.', 'Currently, Nissan sells two EV models in the US, the Leaf compact hatchback and the Ariya SUV, but had announced plans to build five new EV models in Canton including two originally scheduled for production in 2025.', 'The new models were set to include both Nissan and Infiniti vehicles.', 'Infiniti is Nissan’s luxury brand.', 'Nissan is delaying plans to actually begin producing the vehicles in Mississippi.', '“We are adjusting the timeline for the introduction of these five new models to ensure we bring the vehicles to the market at the right time, prioritizing in line with customer demand and maximizing the opportunity for our brands and supplier partners,” Nissan said in a statement emailed to CNN.', 'These latest delays were previously reported by the industry newspaper Automotive News.', 'Nissan still plans to offer a total of 19 EV models globally by 2030, a spokesperson said.', 'Nissan previously announced it would invest $500 million in the factory to prepare it build the new electric vehicles.', 'The factory in Canton currently employs roughly 5,000 workers and makes the Nissan Altima sedan Frontier, Titan, and Titan XD pickups.', 'Other automakers have also made moves to slow production of new EVs and EV batteries citing concerns about slowing consumer adoption.', 'Last year, GM slowed down a planned ramp up in production of its Silverado EV pickup.', 'Ford also reduced the planned size of a factory it’s building to make EV batteries.']",0.1245977420979721,"The factory in Canton currently employs roughly 5,000 workers and makes the Nissan Altima sedan Frontier, Titan, and Titan XD pickups.",,0.0782069726423783,"EV sales in the US grew 2.6 % in the first quarter of 2024 compared to the same period in 2023, according to Kelley Blue Book.",These concerns have led to recent drops in customer consideration of EVs.,2024-05-21
+Paula Vennells: Five questions for the ex-Post Office boss,https://www.bbc.co.uk/news/articles/cg33yjdpn0qo,2024-05-20T23:12:36.155Z,"The former boss of the Post Office, Paula Vennells, is giving evidence on Wednesday at the public inquiry into the Horizon IT scandal. It is a major investigation into how hundreds of sub-postmasters were wrongly prosecuted starting in 1999 after faulty software said money was missing from Post Office branch accounts. Ms Vennells was chief executive from 2012 to 2019. During this time, sub-postmasters were still being prosecuted but the Post Office continued to deny the faulty Horizon software was to blame, despite mounting evidence of wrongful convictions. This will be the first time Ms Vennells has spoken publicly about what happened in almost a decade. She will be grilled for three days. So, what are some of the key questions she has to answer? The Post Office always claimed sub-postmasters' branch accounts could not be remotely accessed without their knowledge. Prosecutions were done on the basis that the accounts were secure. Once it became known that Fujitsu, the company responsible for the Horizon system, was able to do this, it undermined every prosecution case and civil claim the Post Office had brought.  We now know that the Post Office was made aware as early as 2010 about this secret “back door” access. We also know that in 2015, Paula Vennells wrote a memo to colleagues saying she needed to be able to say, “No, this isn’t possible.”  At the time, she was preparing for an important appearance in front of MPs, as the pressure grew for the Post Office to come clean about the scale of the problems. So when exactly did she know the truth about remote access? Paula Vennells went on to tell MPs on the business select committee in 2015 that she had seen no evidence of any miscarriages of justice.  But two years earlier barrister Simon Clarke warned the Post Office there were problems with past prosecutions. He said this was because they’d relied on evidence from Gareth Jenkins, the Fujitsu IT engineer who failed to disclose to the courts that he knew about bugs in the system.  Mr Clarke wrote that this left the Post Office in breach of its duty as prosecutor.   Lord Arbuthnot, one of the leading campaigners for the sub-postmasters, says Ms Vennells must have known about the advice. “It does make you wonder what reassurances, if any, had she been given, and by whom, before she said what she said on public record.”  When Ms Vennells, who was also a part-time Anglican priest, became chief executive, the business was haemorrhaging money. She was under pressure to modernise the business and make it profitable. Horizon was too big and important to fail.  Nick Wallis, author of the Great Post Office Scandal, believes Ms Vennells didn’t want to be given bad information. “I think she relied on Post Office loyalists and highly paid legal advisers to tell her the truth she wanted to hear.” It's clear there were plenty of missed opportunities along the way. In 2012, under pressure from sub-postmasters and MPs, forensic accountants Second Sight were appointed to look into the growing number of complaints.  Second Sight played a key role in exposing the scandal, finding flaws in the Horizon computer system but Post Office bosses secretly decided in April 2014 to sack the firm, documents obtained by the BBC showed. Ms Vennells defended the Horizon system right to the end. After a mediation scheme to help victims collapsed, sub-postmasters launched an epic High Court battle to get to the truth.  This was the fight for justice launched in 2017 by Alan Bates and a group of 555 sub-postmasters which inspired ITV drama Mr Bates vs The Post Office. Ms Vennells was in charge when the Post Office decided to defend the action, going on to spend £100m fighting the group in court despite knowing its defence was untrue, a draft report uncovered by the BBC showed. The Post Office said it would be ""inappropriate"" to comment on this report. “They doubled down, rather than accept the reality,” says Paul Marshall, a barrister who represented several wrongly convicted branch managers. Ms Vennells left the Post Office just before the damning judgement came through.  There’s one key bit of context to all this. The Post Office is owned by the government, which has a representative on its board.  There’s an awful lot we don’t know about what went on between ministers, top civil servants and the decision making during her leadership, a crucial phase when the alleged cover-up was in full swing.  How much did she tell them about the faults and the problems? And what were they telling her? Did Fujitsu mislead her?  Everyone touched by this terrible scandal now wants to hear the truth from Ms Vennells. In a statement from her solicitors she said: ""I am truly sorry for the devastation caused to the sub-postmasters and their families, whose lives were torn apart by being wrongly accused and wrongly prosecuted as a result of the Horizon system."" She added: ""I now intend to continue to focus on assisting the inquiry and will not make any further public comment until it has concluded."" ",BBC,20/05/2024,"['The former boss of the Post Office, Paula Vennells, is giving evidence on Wednesday at the public inquiry into the Horizon IT scandal.', 'It is a major investigation into how hundreds of sub-postmasters were wrongly prosecuted starting in 1999 after faulty software said money was missing from Post Office branch accounts.', 'Ms Vennells was chief executive from 2012 to 2019.', 'During this time, sub-postmasters were still being prosecuted but the Post Office continued to deny the faulty Horizon software was to blame, despite mounting evidence of wrongful convictions.', 'This will be the first time Ms Vennells has spoken publicly about what happened in almost a decade.', 'She will be grilled for three days.', 'So, what are some of the key questions she has to answer?', ""The Post Office always claimed sub-postmasters' branch accounts could not be remotely accessed without their knowledge."", 'Prosecutions were done on the basis that the accounts were secure.', 'Once it became known that Fujitsu, the company responsible for the Horizon system, was able to do this, it undermined every prosecution case and civil claim the Post Office had brought.', 'We now know that the Post Office was made aware as early as 2010 about this secret “back door” access.', 'We also know that in 2015, Paula Vennells wrote a memo to colleagues saying she needed to be able to say, “No, this isn’t possible.”', 'At the time, she was preparing for an important appearance in front of MPs, as the pressure grew for the Post Office to come clean about the scale of the problems.', 'So when exactly did she know the truth about remote access?', 'Paula Vennells went on to tell MPs on the business select committee in 2015 that she had seen no evidence of any miscarriages of justice.', 'But two years earlier barrister Simon Clarke warned the Post Office there were problems with past prosecutions.', 'He said this was because they’d relied on evidence from Gareth Jenkins, the Fujitsu IT engineer who failed to disclose to the courts that he knew about bugs in the system.', 'Mr Clarke wrote that this left the Post Office in breach of its duty as prosecutor.', 'Lord Arbuthnot, one of the leading campaigners for the sub-postmasters, says Ms Vennells must have known about the advice. “', 'It does make you wonder what reassurances, if any, had she been given, and by whom, before she said what she said on public record.”', 'When Ms Vennells, who was also a part-time Anglican priest, became chief executive, the business was haemorrhaging money.', 'She was under pressure to modernise the business and make it profitable.', 'Horizon was too big and important to fail.', 'Nick Wallis, author of the Great Post Office Scandal, believes Ms Vennells didn’t want to be given bad information. “', 'I think she relied on Post Office loyalists and highly paid legal advisers to tell her the truth she wanted to hear.”', ""It's clear there were plenty of missed opportunities along the way."", 'In 2012, under pressure from sub-postmasters and MPs, forensic accountants Second Sight were appointed to look into the growing number of complaints.', 'Second Sight played a key role in exposing the scandal, finding flaws in the Horizon computer system but Post Office bosses secretly decided in April 2014 to sack the firm, documents obtained by the BBC showed.', 'Ms Vennells defended the Horizon system right to the end.', 'After a mediation scheme to help victims collapsed, sub-postmasters launched an epic High Court battle to get to the truth.', 'This was the fight for justice launched in 2017 by Alan Bates and a group of 555 sub-postmasters which inspired ITV drama Mr Bates vs The Post Office.', 'Ms Vennells was in charge when the Post Office decided to defend the action, going on to spend £100m fighting the group in court despite knowing its defence was untrue, a draft report uncovered by the BBC showed.', 'The Post Office said it would be ""inappropriate"" to comment on this report. “', 'They doubled down, rather than accept the reality,” says Paul Marshall, a barrister who represented several wrongly convicted branch managers.', 'Ms Vennells left the Post Office just before the damning judgement came through.', 'There’s one key bit of context to all this.', 'The Post Office is owned by the government, which has a representative on its board.', 'There’s an awful lot we don’t know about what went on between ministers, top civil servants and the decision making during her leadership, a crucial phase when the alleged cover-up was in full swing.', 'How much did she tell them about the faults and the problems?', 'And what were they telling her?', 'Did Fujitsu mislead her?', 'Everyone touched by this terrible scandal now wants to hear the truth from Ms Vennells.', 'In a statement from her solicitors she said: ""I am truly sorry for the devastation caused to the sub-postmasters and their families, whose lives were torn apart by being wrongly accused and wrongly prosecuted as a result of the Horizon system.""', 'She added: ""I now intend to continue to focus on assisting the inquiry and will not make any further public comment until it has concluded.""']",-0.1080045020967967,This was the fight for justice launched in 2017 by Alan Bates and a group of 555 sub-postmasters which inspired ITV drama Mr Bates vs The Post Office.,"During this time, sub-postmasters were still being prosecuted but the Post Office continued to deny the faulty Horizon software was to blame, despite mounting evidence of wrongful convictions.",-0.6690008640289307,She was under pressure to modernise the business and make it profitable.,But two years earlier barrister Simon Clarke warned the Post Office there were problems with past prosecutions.,2024-05-21
+Mercedes-Benz workers in Alabama vote against UAW union membership,https://www.cnbc.com/2024/05/17/uaw-vote-mercedes-benz-alabama.html,2024-05-17T21:24:27+0000,"Mercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday.The results are a blow to the UAW's organizing efforts a month after the Detroit union won an organizing drive of roughly 4,330 Volkswagen plant workers in Tennessee. Voting started Monday and ended Friday.Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results.The NLRB said 51 ballots were challenged and not counted, but they aren't determinative to the outcome of the election. There were five void ballots. The union and company have five business days to file objections to the election, including any alleged interference, according to the NLRB. If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.Mercedes-Benz in a statement said company officials ""look forward to continuing to work directly with our Team Members to ensure [Mercedes-Benz US International] is not only their employer of choice, but a place they would recommend to friends and family.""The loss is expected to hurt the UAW in an unprecedented organizing drive launched late last year of 13 non-union automakers in the U.S. after securing record contracts with Detroit automakers Ford Motor, General Motors and Stellantis. Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.UAW President Shawn Fain said while the Mercedes-Benz vote was obviously not the result the union wanted, it was a valiant effort, adding the vote ""isn't a failure"" but a ""bump in the road.""""While this loss stings, I'll tell you this, we're going to keep our heads up, keep our heads up high. These workers have nothing to do but be proud in the effort they put forth and what they've done,"" he said Friday during a media conference. ""We fought the good fight and we're going to continue on, continue forward. Ultimately, these workers here are going to win.""The Mercedes-Benz vote was expected to be more challenging for the union than the Volkswagen plant in Tennessee, where the union had already established a presence after two failed organizing drives in the past decade and where it faced less opposition from the automaker.Stephen Silvia, author of ""The UAW's Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants,"" noted Mercedes-Benz replaced the plant's leader weeks ahead of the election. He said companies routinely do this, promising workers changes at their facilities in an effort to stave of organizing.""Companies do anti-union campaigns because they can be effective, and I think this one was effective,"" said Silvia, a professor at American University in Washington, D.C. ""A common piece of an anti-union campaign is firing the plant manager ... That seems to have persuaded enough of the workers to vote against the union.""Alabama Gov. Kay Ivey, who was one of six Republican governors to condemn the union's organizing drive, hailed the outcome of the vote.""The workers in Vance have spoken, and they have spoken clearly! Alabama is not Michigan, and we are not the Sweet Home to the UAW. We urge the UAW to respect the results of this secret ballot election,"" she said.Workers at Mercedes-Benz's Tuscaloosa plant, located about 60 miles southwest of Birmingham, have produced more than 4 million vehicles since the plant opened in 1997, including 295,000 vehicles in 2023, according to the plant's website.The Alabama plant currently produces vehicles such as the gas-powered GLE and GLS Maybach SUVs as well as the all-electric EQS and EQE SUVs.The NLRB last week said it continues to process and investigate open unfair labor practice charges filed by the UAW against automakers, including six unfair labor practice charges against Mercedes-Benz since March.Fain said Friday the union would continue to move forward with those charges. He declined to say whether the union plans to challenge the election results, saying he'd ""leave that"" to the union's legal team.The charges allege that Mercedes-Benz has ""disciplined employees for discussing unionization at work, prohibited distribution of union materials and paraphernalia, surveilled employees, discharged union supporters, forced employees to attend captive audience meetings, and made statements suggesting that union activity is futile,"" the NLRB said.The union has filed other charges against automakers Honda, Hyundai, Lucid, Rivian, Tesla and Toyota, according to the NLRB.",CNBC,17/05/2024,"['Mercedes-Benz workers in Alabama have voted against union representation by the United Auto Workers, the National Labor Relations Board said Friday.', ""The results are a blow to the UAW's organizing efforts a month after the Detroit union won an organizing drive of roughly 4,330 Volkswagen plant workers in Tennessee."", 'Voting started Monday and ended Friday.', 'Union organizing failed with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election.', 'More than 90% of the 5,075 eligible Mercedes-Benz workers voted in the election, according to the results.', ""The NLRB said 51 ballots were challenged and not counted, but they aren't determinative to the outcome of the election."", 'There were five void ballots.', 'The union and company have five business days to file objections to the election, including any alleged interference, accordingto the NLRB.', 'If no objections are filed, the election result will be certified, and the union will have to wait one year to file for a union election for a similar bargaining unit.', 'Mercedes-Benz in a statement said company officials ""look forward to continuing to work directly with our Team Members to ensure [Mercedes-Benz US International] is not only their employer of choice, but a place they would recommend to friends and family.', '""The loss is expected to hurt the UAW in an unprecedented organizing drive launched late last year of 13 non-union automakers in the U.S. after securing record contracts with Detroit automakers Ford Motor, General Motors and Stellantis.', 'Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.', 'UAW President Shawn Fain said while the Mercedes-Benz vote was obviously not the result the union wanted, it was a valiant effort, adding the vote ""isn\'t a failure"" but a ""bump in the road.', '""""While this loss stings, I\'ll tell you this, we\'re going to keep our heads up, keep our heads up high.', 'These workers have nothing to do but be proud in the effort they put forth and what they\'ve done,"" he said Friday during a media conference. ""', ""We fought the good fight and we're going to continue on, continue forward."", 'Ultimately, these workers here are going to win.', '""The Mercedes-Benz vote was expected to be more challenging for the union than the Volkswagen plant in Tennessee, where the union had already established a presence after two failed organizing drives in the past decade and where it faced less opposition from the automaker.', 'Stephen Silvia,authorof ""The UAW\'s Southern Gamble: Organizing Workers at Foreign-Owned Vehicle Plants,"" noted Mercedes-Benz replaced the plant\'s leader weeks ahead of the election.', 'He said companies routinely do this, promising workers changes at their facilities in an effort to stave of organizing.', '""Companies do anti-union campaigns because they can be effective, and I think this one was effective,"" said Silvia, a professor at American University in Washington, D.C. ""A common piece of an anti-union campaign is firing the plant manager ... That seems to have persuaded enough of the workers to vote against the union.', '""Alabama Gov. Kay Ivey, who was one of six Republican governors to condemn the union\'s organizing drive, hailed the outcome of the vote.', '""The workers in Vance have spoken, and they have spoken clearly!', 'Alabama is not Michigan, and we are not the Sweet Home to the UAW.', 'We urge the UAW to respect the results of this secret ballot election,"" she said.', ""Workers at Mercedes-Benz's Tuscaloosa plant, located about 60 miles southwest of Birmingham, have produced more than 4 million vehicles since the plant opened in 1997, including 295,000 vehicles in 2023, according to the plant's website."", 'The Alabama plant currently produces vehicles such as the gas-powered GLE and GLS Maybach SUVs as well as the all-electric EQS and EQE SUVs.', 'The NLRB last week said it continues to process and investigate open unfair labor practice charges filed by the UAW against automakers, including six unfair labor practice charges against Mercedes-Benz since March.', 'Fain said Friday the union would continue to move forward with those charges.', 'He declined to say whether the union plans to challenge the election results, saying he\'d ""leave that"" to the union\'s legal team.', 'The charges allege that Mercedes-Benz has ""disciplined employees for discussing unionization at work, prohibited distribution of union materials and paraphernalia, surveilled employees, discharged union supporters, forced employees to attend captive audience meetings, and made statements suggesting that union activity is futile,"" the NLRB said.', 'The union has filed other charges against automakers Honda, Hyundai, Lucid, Rivian, Tesla and Toyota, according to the NLRB.']",0.0311893796263664,"Mercedes-Benz in a statement said company officials ""look forward to continuing to work directly with our Team Members to ensure [Mercedes-Benz US International] is not only their employer of choice, but a place they would recommend to friends and family.","The NLRB last week said it continues to process and investigate open unfair labor practice charges filed by the UAW against automakers, including six unfair labor practice charges against Mercedes-Benz since March.",0.2721788287162781,"Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.","""The loss is expected to hurt the UAW in an unprecedented organizing drive launched late last year of 13 non-union automakers in the U.S. after securing record contracts with Detroit automakers Ford Motor, General Motors and Stellantis.",2024-05-21
+Walmart says more diners are buying its groceries as fast food gets pricey,https://www.cnbc.com/2024/05/16/walmart-earnings-grocery-sales-rise-as-fast-food-prices-increases.html,2024-05-16T17:51:10+0000,"In this articleForget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles.As fast food gets pricier, the nation's largest grocer sees a sales opportunity.On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter's sales growth in the recent quarter came from customers who turned to its grocery aisles for cheaper meals than they can get at quick-service restaurants.""It's roughly 4.3 times more expensive to eat out than it is to eat at home,"" he said. ""And that's benefiting our business.""As customers see some grocery items stay the same price or even become cheaper, the gap between buying menu items and cooking food at home has grown even wider, he said.Walmart's stock soared to an all-time high Thursday, after it beat Wall Street's quarterly sales and revenue expectations and said it expected its full-year results to be on the high end of, or better than, its previous forecast. Transactions in the U.S. rose 3.8%, as more customers visited its stores and website.Walmart's strong store traffic and quarterly results are at odds with those of restaurant companies, including McDonald's, Starbucks and Yum Brands. Foot traffic to limited-service chains, which includes fast-food and fast-casual restaurants, fell 3.5% in the first quarter, according to Revenue Management Solutions. Restaurant executives blamed bad weather in January and February — and a consumer slowdown, particularly among lower-income diners.Like many restaurants, McDonald's has faced backlash to its prices. An $18 Big Mac combo sold at one of its franchised restaurants in Connecticut went viral on social media, prompting executives to defend the chain's pricing on its conference call. The burger giant reported disappointing U.S. same-store sales growth of 2.5%, suggesting that its foot traffic fell during the quarter.Still, McDonald's CEO Chris Kempczinski said consumers, particularly those earning lower incomes, are hunting for deals. The chain will offer a $5 value meal starting June 25 for roughly a month.Not all restaurants have had trouble getting diners to pay higher prices: fast-casual chains such as Chipotle, Wingstop and Sweetgreen all reported strong sales in their most recent quarters.Inflation data from the U.S. Labor Department reflects the difference between the price that customers pay for food they cook at home or pack for lunch, compared with what they pay at a coffee shop or restaurant. As of April, the price of food at home, a category that measures the total cost of food purchased at grocers or other food stores, was up 1.1% year over year. The price of food away from home rose significantly more: 4.1% year over year.On the company's earnings call Thursday, Walmart U.S. CEO John Furner pointed to a newer tool in Walmart's arsenal that it can use to compete more aggressively with restaurants: its new grocery brand, Bettergoods.The premium line includes unique flavors and merchandise tailored for more health-conscious customers or ones with a special diet, such as gluten-free or plant-based items. For example, it includes strawberries and cream-flavored Greek yogurt, curry chicken empanadas, restaurant-style chicken wings and salted caramel oat milk ice cream.Seventy percent of the brand's items are under $5, Furner said — a price point that may catch the eye of shoppers ""trying to feed a family of four, five, [or] six.""— CNBC's Amelia Lucas contributed to this report.",CNBC,16/05/2024,"['In this articleForget the drive-thru.', 'Walmart wants diners to find a value meal in its grocery aisles.', ""As fast food gets pricier, the nation's largest grocer sees a sales opportunity."", ""On a call with CNBC on Thursday, Walmart Chief Financial Officer John David Rainey said some of the discounter's sales growth in the recent quarter came from customers who turned to its grocery aisles for cheaper meals than they can get at quick-service restaurants."", '""It\'s roughly 4.3 times more expensive to eat out than it is to eat at home,"" he said. ""', ""And that's benefiting our business."", '""As customers see some grocery items stay the same price or even become cheaper, the gap between buying menu items and cooking food at home has grown even wider, he said.', ""Walmart's stock soared to an all-time high Thursday, after it beat Wall Street's quarterly sales and revenue expectations and said it expected its full-year results to be on the high end of, or better than, its previous forecast."", 'Transactions in the U.S. rose 3.8%, as more customers visited its stores and website.', ""Walmart's strong store traffic and quarterly results are at odds with those of restaurant companies, including McDonald's, Starbucks and Yum Brands."", 'Foot traffic to limited-service chains, which includes fast-food and fast-casual restaurants, fell 3.5% in the first quarter, according to Revenue Management Solutions.', 'Restaurant executives blamed bad weather in January and February — and a consumer slowdown, particularly among lower-income diners.', ""Like many restaurants, McDonald's has faced backlash to its prices."", ""An $18 Big Mac combo sold at one of its franchised restaurants in Connecticut went viral on social media, prompting executives to defend the chain's pricing on its conference call."", 'The burger giant reported disappointing U.S. same-store sales growth of 2.5%, suggesting that its foot traffic fell during the quarter.', ""Still, McDonald's CEO Chris Kempczinski said consumers, particularly those earning lower incomes, are hunting for deals."", 'The chain will offer a $5 value meal starting June 25 for roughly a month.', 'Not all restaurants have had trouble getting diners to pay higher prices: fast-casual chains such as Chipotle, Wingstop and Sweetgreen all reported strong sales in their most recent quarters.', 'Inflation data from the U.S. Labor Departmentreflects the differencebetween the price that customers pay for food they cook at home or pack for lunch, compared with what they pay at a coffee shop or restaurant.', 'As of April, the price of food at home, a category that measures the total cost of food purchased at grocers or other food stores, was up 1.1% year over year.', 'The price of food away from home rose significantly more: 4.1% year over year.', ""On the company's earnings call Thursday, Walmart U.S. CEO John Furner pointed to a newer tool in Walmart's arsenal that it can use to compete more aggressively with restaurants: its new grocery brand, Bettergoods."", 'The premium line includes unique flavors and merchandise tailored for more health-conscious customers or ones with a special diet, such as gluten-free or plant-based items.', 'For example, it includes strawberries and cream-flavored Greek yogurt, curry chicken empanadas, restaurant-style chicken wings and salted caramel oat milk ice cream.', 'Seventy percent of the brand\'s items are under $5, Furner said — a price point that may catch the eye of shoppers ""trying to feed a family of four, five, [or] six.""—', ""CNBC's Amelia Lucas contributed to this report.""]",0.0763173193155215,"The premium line includes unique flavors and merchandise tailored for more health-conscious customers or ones with a special diet, such as gluten-free or plant-based items.","Restaurant executives blamed bad weather in January and February — and a consumer slowdown, particularly among lower-income diners.",0.3580176420509815,"Transactions in the U.S. rose 3.8%, as more customers visited its stores and website.","Foot traffic to limited-service chains, which includes fast-food and fast-casual restaurants, fell 3.5% in the first quarter, according to Revenue Management Solutions.",2024-05-21
+Shares of Hims & Hers Health surge 27% after startup says it will offer GLP-1 injections,https://www.cnbc.com/2024/05/20/hims-hers-compounded-glp-1-injections.html,2024-05-20T20:00:24+0000,"In this articleDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.Shares of the company closed up more than 27% Monday.The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December. But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform. Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.The company's oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month.Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025. The company plans to offer updated guidance in its next earnings report.The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.GLP-1s mimic a hormone produced in the gut to tamp down a person's appetite and regulate their blood sugar. When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient's needs.In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.""We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,"" he said.",CNBC,20/05/2024,"['In this articleDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday.', 'Shares of the company closed up more than 27% Monday.', 'The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December.', 'But GLP-1 medications — such as Ozempic and Wegovy, which have skyrocketed in popularity — were not previously offered as part of that program.', 'Customers can access the compounded GLP-1 medications via a prescription from a licensed health-care provider on the Hims & Hers platform.', 'Hims & Hers said it plans to make branded GLP-1 medications available to its customers once supply is consistently available.', ""The company's oral medication kits start at $79 a month, and its compounded GLP-1 injections will start at $199 a month."", 'Even before it added compounded GLP-1s to its portfolio, Hims & Hers said in its fourth-quarter earnings report that it expects its weight loss program to bring in more than $100 million in revenue by the end of 2025.', 'The company plans to offer updated guidance in its next earnings report.', 'The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.', ""GLP-1s mimic a hormone produced in the gut to tamp down a person's appetite and regulate their blood sugar."", 'When those medications are in shortage, certain manufacturers can prepare a compounded version if they meet U.S. Food and Drug Administration requirements.', ""The FDA does not review the safety and efficacy of compounded products, which are custom-made alternatives to brand drugs designed to meet a specific patient's needs."", 'In a January release, the FDA said patients should not use a compounded GLP-1 drug if an approved drug, such as Wegovy, is available.', 'Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.', 'Dudum said Hims & Hers has spent the last year learning about the GLP-1 supply chain and has partnered with one of the largest generic manufacturers in the country that has FDA oversight.', '""We have a certain degree of exclusivity with that facility that will guarantee our consumers consistent volume and supply,"" he said.']",0.1168976892509908,"The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.","The company, which offers a range of direct-to-consumer treatments for conditions like erectile dysfunction and hair loss, launched a weight loss program in December.",0.5591075778007507,"Hims & Hers CEO Andrew Dudum told CNBC that the company is ""confident"" that customers will be able to access a consistent supply of the compounded medications.","The GLP-1 market, dominated so far by pharmaceutical giant Novo Nordisk, has faced supply constraints in recent months as the drugs get expanded approval from health regulators and increased health coverage.",2024-05-21
+Boeing shareholders re-elect departing CEO Calhoun to board,https://www.cnbc.com/2024/05/17/boeing-calhoun-reelected-shareholder-vote.html,2024-05-17T16:46:44+0000,"In this articleBoeing shareholders voted to re-elect the outgoing CEO Dave Calhoun to the board of directors, a preliminary tally on Friday showed, as he sought to reassure investors that the manufacturer is on the path to stability amid its latest safety crisis.Calhoun in March said he will step down by year's end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer's safety and quality control issues. Boeing also replaced its board chair and the head of its commercial airplane unit in the shakeup.Boeing's new chairman, Steve Mollenkopf, told shareholders at the company's annual meeting Friday that he has consulted with investors and customers on Calhoun's successor. Proxy advisor Glass Lewis had recommended that shareholders vote against Calhoun and two other board members.Boeing's latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing. It has also further strained Boeing's relationship with its regulator, the Federal Aviation Administration, which has ramped up inspections of the manufacturer.Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.",CNBC,17/05/2024,"['In this articleBoeing shareholders voted to re-elect the outgoing CEO Dave Calhoun to the board of directors, a preliminary tally on Friday showed, as he sought to reassure investors that the manufacturer is on the path to stability amid its latest safety crisis.', ""Calhoun in March said he will step down by year's end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer's safety and quality control issues."", 'Boeing also replaced its board chair and the head of its commercial airplane unit in the shakeup.', ""Boeing's new chairman, Steve Mollenkopf, told shareholders at the company's annual meeting Friday that he has consulted with investors and customers on Calhoun's successor."", 'Proxy advisor Glass Lewis had recommended that shareholders vote against Calhoun and two other board members.', ""Boeing's latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing."", ""It has also further strained Boeing's relationship with its regulator, the Federal Aviation Administration, which has ramped up inspections of the manufacturer."", 'Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.']",-0.1307499503462509,"Calhoun in March said he will step down by year's end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer's safety and quality control issues.","Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.",-0.2865927815437317,"Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.","Boeing's latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing.",2024-05-21
+"Macy’s beats earnings estimates, as turnaround plan shows early progress",https://www.cnbc.com/2024/05/21/macys-m-q1-2024-earnings.html,2024-05-21T18:02:17+0000,"In this articleMacy's fiscal first-quarter earnings topped Wall Street's expectations on Tuesday, and the retailer's revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy.The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook. On Macy's earnings call, CFO and COO Adrian Mitchell said the company assumes in its outlook that consumers ""will remain under pressure for the balance of the year.""But he added that the retailer expects to get a lift this year as it pushes ahead with its turnaround strategy online and in stores.The company's shares were up about 1% in early afternoon trading.On an earnings call with investors, CEO Tony Spring said the company is in the ""early innings"" of turning around its namesake stores. As the retailer has stepped up investments at 50 of its Macy's stores, customers have responded by visiting more often and buying more when they do, he said.For example, Macy's has made sure there are sales associates at those stores ready to help customers in the fitting rooms and shoe department, and at jewelry counters. The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss. And Macy's has tried to give shoppers more reasons to stop by, such as by offering personal styling sessions, fashion shows and fragrance bottle engraving, Spring added.""We need more variety,"" he said. ""We need less redundancy. We need more interest within the assortment and I think that's making a difference in the customer's reception to the stores.""Here's what Macy's reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:Macy's first-quarter net income tumbled 60% to $62 million, or 22 cents per share, compared with $155 million, or 56 cents per share, in the year-ago quarter. Net sales fell from $4.98 billion in the year-ago period.Macy's now anticipates net sales of between $22.3 billion and $22.9 billion, which would still represent a drop from $23.09 billion in 2023. It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1% to a gain of 1.5% on an owned-plus-licensed basis and including third-party marketplace sales. It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again. The department store operator, which includes Bloomingdale's and beauty chain Bluemercury, said earlier this year that it would close about 150 of its namesake stores. That's more than a quarter of its namesake Macy's locations. It had already announced five store closures and more than 2,300 layoffs in January.Yet the retailer said it will invest in parts of the business that have fared better, including the roughly 350 Macy's stores that will stay open. It plans to open more Bloomingdale's and Bluemercury locations, and smaller Macy's stores in suburban strip malls.In the first quarter, Bloomingdale's and Bluemercury continued to fare better than the company's namesake brand. At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%. At Bloomingdale's, comparable sales increased 0.3% on an owned-plus-licensed basis, including third-party marketplace sales. At Macy's, comparable sales declined 0.4% on an owned-plus-licensed basis, including the third-party marketplace.The company said the 150 underperforming Macy's stores – which will close by early 2027 – dragged down the results.At the approximately 350 Macy's stores that will stay open, comparable sales were up 0.1% on an owned-plus-licensed basis. At the first 50 of those stores to get additional investment, comparable sales were even better: up 3.4% on an owned-plus-licensed basis.Along with taking a hard look at its store footprint, Macy's has tried to attract more customers, including more millennial and Gen Z shoppers, by launching new exclusive brands and overhauling its existing ones.Macy's has contended with another challenge: a takeover bid by an activist investor. Arkhouse Management and Brigade Capital have made a bid to buy Macy's and take the company private. Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members.Shares of Macy's closed Monday at $19.10, bringing the company's market value to $5.26 billion. As of Monday's close, the company's stock has fallen about 5% so far this year, lagging behind the S&P 500's approximately 11% gains during the same period.",CNBC,21/05/2024,"[""In this articleMacy's fiscal first-quarter earnings topped Wall Street's expectations on Tuesday, and the retailer's revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy."", 'The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook.', 'On Macy\'s earnings call, CFO and COO Adrian Mitchell said the company assumes in its outlook that consumers ""will remain under pressure for the balance of the year.', '""But he added that the retailer expects to get a lift this year as it pushes ahead with its turnaround strategy online and in stores.', ""The company's shares were up about 1% in early afternoon trading."", 'On an earnings call with investors, CEO Tony Spring said the company is in the ""early innings"" of turning around its namesake stores.', ""As the retailer has stepped up investments at 50 of its Macy's stores, customers have responded by visiting more often and buying more when they do, he said."", ""For example, Macy's has made sure there are sales associates at those stores ready to help customers in the fitting rooms and shoe department, and at jewelry counters."", 'The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss.', ""And Macy's has tried to give shoppers more reasons to stop by, such as by offering personal styling sessions, fashion shows and fragrance bottle engraving, Spring added."", '""We need more variety,"" he said. ""', 'We need less redundancy.', ""We need more interest within the assortment and I think that's making a difference in the customer's reception to the stores."", '""Here\'s what Macy\'s reported for the three-month period that ended May 4 compared with what Wall Street expected, based on a survey of analysts by LSEG:Macy\'s first-quarter net income tumbled 60% to $62 million, or 22 cents per share, compared with $155 million, or 56 cents per share, in the year-ago quarter.', 'Net sales fell from $4.98 billion in the year-ago period.', ""Macy's now anticipates net sales of between $22.3 billion and $22.9 billion, which would still represent a drop from $23.09 billion in 2023."", 'It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1% to a gain of 1.5% on an owned-plus-licensed basis and including third-party marketplace sales.', ""It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again."", ""The department store operator, which includes Bloomingdale's and beauty chain Bluemercury, said earlier this year that it would close about 150 of its namesake stores."", ""That's more than a quarter of its namesake Macy's locations."", 'It had already announced five store closures and more than 2,300 layoffs in January.', ""Yet the retailer said it will invest in parts of the business that have fared better, including the roughly 350 Macy's stores that will stay open."", ""It plans to open more Bloomingdale's and Bluemercury locations, and smaller Macy's stores in suburban strip malls."", ""In the first quarter, Bloomingdale's and Bluemercury continued to fare better than the company's namesake brand."", 'At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%.', ""At Bloomingdale's, comparable sales increased 0.3% on an owned-plus-licensed basis, including third-party marketplace sales."", ""At Macy's, comparable sales declined 0.4% on an owned-plus-licensed basis, including the third-party marketplace."", ""The company said the 150 underperforming Macy's stores – which will close by early 2027 – dragged down the results."", ""At the approximately 350 Macy's stores that will stay open, comparable sales were up 0.1% on an owned-plus-licensed basis."", 'At the first 50 of those stores to get additional investment, comparable sales were even better: up 3.4% on an owned-plus-licensed basis.', ""Along with taking a hard look at its store footprint, Macy's has tried to attract more customers, including more millennial and Gen Z shoppers, by launching new exclusive brands and overhauling its existing ones."", ""Macy's has contended with another challenge: a takeover bid by an activist investor."", ""Arkhouse Management and Brigade Capital have made a bid to buy Macy's and take the company private."", ""Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members."", ""Shares of Macy's closed Monday at $19.10, bringing the company's market value to $5.26 billion."", ""As of Monday's close, the company's stock has fallen about 5% so far this year, lagging behind the S&P 500's approximately 11% gains during the same period.""]",0.164355802615501,"The company has rolled out new brands like Donna Karan and expanded others like French Connection, Free People and Hugo Boss.","Arkhouse also waged a proxy battle, but settled the fight in April when Macy's agreed to add two new board members.",0.2019062495231628,"At Bluemercury, comparable sales, a metric that takes out the impact of store openings and closures, rose 4.3%.","It had previously expected comparable sales to decline as much as 1.5%.It expects adjusted earnings per share of between $2.55 and $2.90, raising its previous outlook of between $2.45 and $2.85.Macy's is getting smaller as it tries to grow sales again.",2024-05-21
+Here's where rents are rising — and where they're falling,https://www.cnbc.com/2024/05/21/where-rents-are-rising.html,2024-05-21T18:27:06+0000,"Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.Now different drivers are pushing some rents higher — and throwing cold water on others.Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List. Rents cooled because a massive amount of new supply entered the market, with still more in the pipeline.Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small. Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain. The national median rent in April was $1,396.""This is typically the time of year when rent growth is accelerating heading into the busy moving season, so the fact that growth stalled this month could be a sign that the market is headed for another slow summer,"" according to the Apartment List report.Apartment vacancies are also climbing, hitting 6.7% as of March, marking the highest reading since August 2020. New multifamily building permits are slowing down, but the number of units currently under construction is near a record high, and last year saw the most new apartments hit the market in over 30 years.Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic. That annual increase, however, continues to shrink as more supply comes onto the market from build-for-rent companies.Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023, according to an analysis of Census data by the National Association of Home Builders. Over the last four quarters, 80,000 such homes began construction, representing a nearly 16% jump from the prior four quarters.""U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers,"" said Molly Boesel, principal economist for CoreLogic. ""Overbuilt areas, such as Austin, Texas, continued to soften, decreasing by 3.5% annually in March.""The continued strength overall in single-family rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives, according to Boesel. Mortgage rates have risen back into the 7% range, and home prices continue to rise, making it harder to buy a home.Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%. Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.""The decrease in the attached segment is being driven by a subset of markets, mostly in Florida, but including Austin and New Orleans. As multifamily apartments are being completed, some markets are gaining rental supply, which competes with the attached segment of the single-family rental market,"" Boesel added.",CNBC,21/05/2024,"['Driven by the work-from-home dynamic, as well as by new migration patterns, both single-family and multifamily rent prices were red-hot during the first years of the pandemic.', 'Now different drivers are pushing some rents higher — and throwing cold water on others.', 'Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List.', 'Rents cooled because a massive amount of new supply entered the market, with still more in the pipeline.', 'Apartment rents did rise for the third straight month, but the growth, at 0.5%, is very small.', ""Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain."", 'The national median rent in April was $1,396.""This is typically the time of year when rent growth is accelerating heading into the busy moving season, so the fact that growth stalled this month could be a sign that the market is headed for another slow summer,"" according to the Apartment List report.', 'Apartment vacancies are also climbing, hitting 6.7% as of March, marking the highest reading since August 2020.', 'New multifamily building permits are slowing down, but the number of units currently under construction is near a record high, and last year saw the most new apartments hit the market in over 30 years.', 'Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic.', 'That annual increase, however, continues to shrink as more supply comes onto the market from build-for-rent companies.', 'Roughly 18,000 single-family, built-for-rent homes were started during the first quarter, a 20% increase from the first quarter of 2023, according to an analysis of Census data by the National Association of Home Builders.', 'Over the last four quarters, 80,000 such homes began construction, representing a nearly 16% jump from the prior four quarters.', '""U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers,"" said Molly Boesel, principal economist for CoreLogic. ""', 'Overbuilt areas, such as Austin, Texas, continued to soften, decreasing by 3.5% annually in March.', '""The continued strength overall in single-family rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives, according to Boesel.', 'Mortgage rates have risen back into the 7% range, and home prices continue to rise, making it harder to buy a home.', ""Of the nation's 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents at 6.3%, followed by New York at 5.3% and Boston at 5.2%."", 'Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.', '""The decrease in the attached segment is being driven by a subset of markets, mostly in Florida, but including Austin and New Orleans.', 'As multifamily apartments are being completed, some markets are gaining rental supply, which competes with the attached segment of the single-family rental market,"" Boesel added.']",0.2372042158816055,"Rents usually begin to rise in the spring, and the gain this year is not only smaller than usual but smaller than the previous month's gain.","Multifamily rents in April were 0.8% lower than they were in the same month last year, according to Apartment List.",0.1080934524536132,"Single-family rents are much stronger, up 3.4% in March year over year, according to a new report from CoreLogic.","Those leading the declines were Austin, Texas, down 3.5%; Miami, down 3.2%; and New Orleans, down 1.4%.For the first time in 14 years, however, single-family attached properties, namely townhomes, posted a year-over-year rent decline.",2024-05-21
+"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.,2024-05-21
+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.",2024-05-21
+"Boeing supplier Spirit AeroSystems lays off workers, citing lower plane delivery rates",https://www.cnbc.com/2024/05/16/spirit-aerosystems-layoffs.html,2024-05-16T20:17:00+0000,"In this articleAerospace supplier Spirit AeroSystems on Thursday said it will lay off some of its workers because of slower delivery rates on commercial aircraft as it struggles with a slowdown at its biggest commercial airplane customer, Boeing.Spirit AeroSystems told staff in a memo, reported earlier by Wichita-based KSN, that it would cut about 400 to 450 hourly employees.""We are committed to implementing this transition in as compassionate a manner as possible,"" Spirit AeroSystems said in a statement.About 12,600 people worked at the Wichita facility as of the end of 2023, according to the company's annual filing.Spirit AeroSystems makes fuselages at the plant for Boeing's bestselling 737 Max plane, deliveries of which have slowed in the wake of a door panel blowout and resulting safety crisis at Boeing.Last week, Spirit AeroSystems said first-quarter Boeing deliveries decreased 31% from the same period in 2023, and said overall deliveries were down 11.3%.It reported a quarterly loss of $616.7 million for the first three months of the year. The company has struggled financially in recent years and was last profitable in 2019. The company is also in talks to be acquired by Boeing, which it spun off from in 2005. About 70% of Spirit AeroSystems' revenue last year came from Boeing, although the company also makes parts for Boeing's rival Airbus.Boeing CEO Dave Calhoun told CNBC in an interview in April 2024 that it is ""more than likely"" that the companies reach a deal during the second quarter.",CNBC,16/05/2024,"['In this articleAerospace supplier Spirit AeroSystems on Thursday said it will lay off some of its workers because of slower delivery rates on commercial aircraft as it struggles with a slowdown at its biggest commercial airplane customer, Boeing.', 'Spirit AeroSystems told staff in a memo, reported earlier by Wichita-based KSN, that it would cut about 400 to 450 hourly employees.', '""We are committed to implementing this transition in as compassionate a manner as possible,"" Spirit AeroSystems said in a statement.', ""About 12,600 people worked at the Wichita facility as of the end of 2023, according to the company's annual filing."", ""Spirit AeroSystems makes fuselages at the plant for Boeing's bestselling 737 Max plane, deliveries of which have slowed in the wake of a door panel blowout and resulting safety crisis at Boeing."", 'Last week, Spirit AeroSystems said first-quarter Boeing deliveries decreased 31% from the same period in 2023, and said overall deliveries were down 11.3%.It reported a quarterly loss of $616.7 million for the first three months of the year.', 'The company has struggled financially in recent years and was last profitable in 2019.The company is also in talks to be acquired by Boeing, which it spun off from in 2005.', ""About 70% of Spirit AeroSystems' revenue last year came from Boeing, although the company also makes parts for Boeing's rival Airbus."", 'Boeing CEO Dave Calhoun told CNBC in an interview in April 2024 that it is ""more than likely"" that the companies reach a deal during the second quarter.']",0.0487687692160598,"""We are committed to implementing this transition in as compassionate a manner as possible,"" Spirit AeroSystems said in a statement.","In this articleAerospace supplier Spirit AeroSystems on Thursday said it will lay off some of its workers because of slower delivery rates on commercial aircraft as it struggles with a slowdown at its biggest commercial airplane customer, Boeing.",-0.9941206216812134,,"Last week, Spirit AeroSystems said first-quarter Boeing deliveries decreased 31% from the same period in 2023, and said overall deliveries were down 11.3%.It reported a quarterly loss of $616.7 million for the first three months of the year.",2024-05-21
+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.,2024-05-21
+Under Armour is laying off workers as retailer says North America sales will plunge this year,https://www.cnbc.com/2024/05/16/under-armour-uaa-earnings-q4-2024.html,2024-05-16T20:14:41+0000,"In this articleUnder Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits sink by more than 96% during its fiscal fourth quarter, compared with the year-ago period. It's unclear how many employees Under Armour will lay off as part of the restructuring, but the plan is expected to cost between $70 million and $90 million, a portion of which will be used for employee severance and benefits costs. The company declined to share more information with CNBC about its restructuring.The company's shares initially plunged double digits in pre-market trading after its earnings report was released, but later rebounded after its earnings call with Wall Street analysts. Shares closed more than 1% lower. Here's how the athletic apparel retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended March 31 was $6.6 million, or 2 cents per share, compared with $170.6 million, or 38 cents per share, a year earlier. Excluding one-time items, the company reported earnings of 11 cents per share. Sales dropped to $1.33 billion, down about 5% from $1.4 billion a year earlier. During the quarter, sales in North America declined 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount. Under Armour said it expects sales to continue to worsen in North America. The company anticipates they will drop between 15% and 17% in its current fiscal year. ""Due to a confluence of factors, including lower wholesale channel demand and inconsistent execution across our business, we are seizing this critical moment to make proactive decisions to build a premium positioning for our brand, which will pressure our top and bottom line in the near term,"" founder and CEO Kevin Plank said in a statement. ""Over the next 18 months, there is a significant opportunity to reconstitute Under Armour's brand strength through achieving more, by doing less and focusing on our core fundamentals,"" he added.Across Under Armour's business, the company is expecting revenue to be down ""at a low-double-digit percentage rate"" in its current fiscal year, while analysts had expected sales to grow by 2.1%, according to LSEG. The company is planning to cut down on promotions and discounting, which it expects will lead its gross margin to rise between 0.75 and 1 percentage point for the fiscal year. It's expecting diluted earnings per share to be between 2 cents and 5 cents and adjusted diluted earnings per share to be between 18 cents and 21 cents for the year. Analysts had expected earnings per share of 52 cents, according to LSEG. Under Armour's rough quarter comes about two months after the retailer announced former Marriott executive Stephanie Linnartz would be stepping down from her role as CEO after barely a year on the job and Plank would once again take the helm of the company he founded in 1996. Linnartz was the second CEO the company has cycled through in less than two years. During a call with analysts, Plank was blunt about where things had gone wrong for Under Armour. He pointed to inconsistent leadership as one of the primary issues.""With several CEOs and heads of products, marketing and North America over the past half decade, ongoing turnover of critical leadership has been central to our inability to stay agile and decisive,"" said Plank.Linnartz was hired on a bet that her experience building out Marriott's renowned Bonvoy loyalty program and driving digital revenue for the hotel giant would offset her lack of experience in the retail industry. Before her departure, she managed to overhaul Under Armour's C-suite and build out its loyalty program. She was attempting to pivot the brand's assortment to a more athleisure-focused offering that had more stylish options for women, who tend to spend more on clothes and shoes than men do.Now Plank is looking to undo some of that work. He told analysts that the company had ""taken our eyes off"" its core men's apparel business, which has ""significantly impacted"" the brand's perception and led it to become ""more promotional and commoditized.""""We will rectify this,"" said Plank. ""This focus does not mean that we are deprioritizing our footwear or women's business per se but from a sequencing perspective, men's apparel will be our highest priority.""As Plank tries to reset the business, he said Under Armour plans to reduce its style counts by roughly 25% over the next 18 months and cut down the amount of time it takes to get a product from an idea to a showroom floor. He aims to streamline the process so it'll only take between 6 and12 months instead of the 18 months it currently takes — a system he called ""just plain uncompetitive in the 2024 landscape.""The full restructuring will focus on streamlining Under Armour's overall business, reducing silos and ensuring that every staffer's work is directly contributing to its primary goal: ""Selling more shirts and shoes.""""We are simply doing too much stuff. There are too many products, too many initiatives, too much of too much,"" said Plank. ""To reconstitute this brand, we must be highly focused and prioritize what needs to get done so that our teams know exactly what to do with a clear definition of success.""Read the full earnings release here.",CNBC,16/05/2024,"['In this articleUnder Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year.', 'The athletic apparel retailer also saw profits sink by more than 96% during its fiscal fourth quarter, compared with the year-ago period.', ""It's unclear how many employees Under Armour will lay off as part of the restructuring, but the plan is expected to cost between $70 million and $90 million, a portion of which will be used for employee severance and benefits costs."", 'The company declined to share more information with CNBC about its restructuring.', ""The company's shares initially plunged double digits in pre-market trading after its earnings report was released, but later rebounded after its earnings call with Wall Street analysts."", 'Shares closed more than 1% lower.', ""Here's how the athletic apparel retailer did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:The company's reported net income for the three-month period that ended March 31 was $6.6 million, or 2 cents per share, compared with $170.6 million, or 38 cents per share, a year earlier."", 'Excluding one-time items, the company reported earnings of 11 cents per share.', 'Sales dropped to $1.33 billion, down about 5% from $1.4 billion a year earlier.', 'During the quarter, sales in North America declined 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount.', 'Under Armour said it expects sales to continue to worsen in North America.', 'The company anticipates they will drop between 15% and 17% in its current fiscal year.', '""Due to a confluence of factors, including lower wholesale channel demand and inconsistent execution across our business, we are seizing this critical moment to make proactive decisions to build a premium positioning for our brand, which will pressure our top and bottom line in the near term,"" founder and CEO Kevin Plank said in a statement.', '""Over the next 18 months, there is a significant opportunity to reconstitute Under Armour\'s brand strength through achieving more, by doing less and focusing on our core fundamentals,"" he added.', 'Across Under Armour\'s business, the company is expecting revenue to be down ""at a low-double-digit percentage rate"" in its current fiscal year, while analysts had expected sales to grow by 2.1%, according to LSEG.The company is planning to cut down on promotions and discounting, which it expects will lead its gross margin to rise between 0.75 and 1 percentage point for the fiscal year.', ""It's expecting diluted earnings per share to be between 2 cents and 5 cents and adjusted diluted earnings per share to be between 18 cents and 21 cents for the year."", ""Analysts had expected earnings per share of 52 cents, according to LSEG.Under Armour's rough quarter comes about two months after the retailer announced former Marriott executive Stephanie Linnartz would be stepping down from her role as CEO after barely a year on the job and Plank would once again take the helm of the company he founded in 1996.Linnartz was the second CEO the company has cycled through in less than two years."", 'During a call with analysts, Plank was blunt about where things had gone wrong for Under Armour.', 'He pointed to inconsistent leadership as one of the primary issues.', '""With several CEOs and heads of products, marketing and North America over the past half decade, ongoing turnover of critical leadership has been central to our inability to stay agile and decisive,"" said Plank.', ""Linnartz was hired on a bet that her experience building out Marriott's renowned Bonvoy loyalty program and driving digital revenue for the hotel giant would offset her lack of experience in the retail industry."", ""Before her departure, she managed to overhaul Under Armour's C-suite and build out its loyalty program."", ""She was attempting to pivot the brand's assortment to a more athleisure-focused offering that had more stylish options for women, who tend to spend more on clothes and shoes than men do."", 'Now Plank is looking to undo some of that work.', 'He told analysts that the company had ""taken our eyes off"" its core men\'s apparel business, which has ""significantly impacted"" the brand\'s perception and led it to become ""more promotional and commoditized.', '""""We will rectify this,"" said Plank. ""', ""This focus does not mean that we are deprioritizing our footwear or women's business per se but from a sequencing perspective, men's apparel will be our highest priority."", '""As Plank tries to reset the business, he said Under Armour plans to reduce its style counts by roughly 25% over the next 18 months and cut down the amount of time it takes to get a product from an idea to a showroom floor.', 'He aims to streamline the process so it\'ll only take between 6 and12 months instead of the 18 months it currently takes — a system he called ""just plain uncompetitive in the 2024 landscape.', '""The full restructuring will focus on streamlining Under Armour\'s overall business, reducing silos and ensuring that every staffer\'s work is directly contributing to its primary goal: ""Selling more shirts and shoes.', '""""We are simply doing too much stuff.', 'There are too many products, too many initiatives, too much of too much,"" said Plank. ""', 'To reconstitute this brand, we must be highly focused and prioritize what needs to get done so that our teams know exactly what to do with a clear definition of success.', '""Read the full earnings release here.']",0.0605298505650281,"To reconstitute this brand, we must be highly focused and prioritize what needs to get done so that our teams know exactly what to do with a clear definition of success.","Across Under Armour's business, the company is expecting revenue to be down ""at a low-double-digit percentage rate"" in its current fiscal year, while analysts had expected sales to grow by 2.1%, according to LSEG.The company is planning to cut down on promotions and discounting, which it expects will lead its gross margin to rise between 0.75 and 1 percentage point for the fiscal year.",-0.484110727196648,"""Over the next 18 months, there is a significant opportunity to reconstitute Under Armour's brand strength through achieving more, by doing less and focusing on our core fundamentals,"" he added.","During the quarter, sales in North America declined 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount.",2024-05-21
+Are consumers pulling back on spending? It depends on which CEO you ask,https://www.cnbc.com/2024/05/20/consumer-pullback-ceos.html,2024-05-20T17:30:25+0000,"In this articleWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren't.The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald's, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending. Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.The takeaway? Consumers have become more selective about how and where they spend their dollars.""Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,"" McDonald's CEO Chris Kempczinski said on the company's conference call in late April.For more than two years, consumers have dealt with sharply rising prices. This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches, thanks to stabilizing commodity prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch.The consumer price index rose 3.4% over the last 12 months through April, according to Department of Labor data. On Tuesday, a day before the monthly CPI report, Federal Reserve Chair Jerome Powell reiterated that inflation is falling more slowly than expected, which likely means the central bank won't be cutting interest rates anytime soon.Making matters worse, many consumers have run through the savings they accumulated during the pandemic when they were collecting stimulus checks in place of traveling. Instead, many are paying their everyday bills with credit cards as they face higher costs for gas, rent and groceries. The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.Aurelia Concepcion, 57, a case manager in New York, said she is planning only essential travel this year, drawing the line at visiting family in Georgia and Ohio.""Everything is too high ... taxis, rent."" Concepcion says she avoids restaurants: ""It's too expensive. I'd rather prepare my own food.""Concepcion isn't the only consumer changing spending habits. Executives have been warning about a more cautious spending environment for awhile. But it's finally starting to show up in some companies' quarterly results.KFC, Pizza Hut and Starbucks were among the restaurant companies that reported declining same-store sales in the most recent quarter. Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said. And Apple iPhone sales fell 10% in the tech company's latest quarter, suggesting consumers weren't upgrading to the latest version of the smartphone in the patterns that they have in the past.""Some of the things that have seen the biggest run-up in prices over the last few years are items that confront people on a daily basis: the cost of eating out, the cost of groceries and the costs of fuel and gasoline and rents,"" said Columbia Business School economics professor Brett House. ""Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that.""Big-box giant Walmart said last Thursday that shoppers are prioritizing buying food and health-related items over general merchandise, like home goods and electronics. The retailer has reported that trend for several quarters now. Finance chief John David Rainey told CNBC that Walmart's grocery business has gotten a boost from the widening gap between restaurant prices and the cost of cooking at home. Lower-income consumers are struggling more than other demographics. They couldn't save as much during the pandemic, and evidence suggests that they've exhausted those savings, according to House. On top of that, rent prices have surged, and low-income consumers are more likely to rent than own.PepsiCo, for one, particularly called out a weaker low-income consumer. The Gatorade owner saw volume for its North American beverage business fall 5% in the quarter.""The lower-income consumer in the U.S. is stretched ... [and] is strategizing a lot to make their budgets get to the end of the month,"" CEO Ramon Laguarta told analysts on the company's conference call in April.Pepsi is leaning into promotions and discounts to lure back the low-income shopper. Other companies are similarly hoping deals will attract more customers. McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending.""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Ed Bastian, CEO of Delta Air Lines, the most profitable U.S. carrier, said in an interview in April.Delta and its rival United last month each forecast earnings ahead of analysts' estimates for the second quarter. Both carriers offer sprawling global networks and have benefited from a rebound in international travel in the wake of the pandemic, particularly to Europe and popular destinations in Asia for U.S. travelers like Japan. Both carriers have predicted record summer travel demand.Those airline trends align with a broader consumer shift that started after pandemic lockdowns: spending more money on experiences rather than apparel or electronics.""We're still spending disproportionately on activities and services rather than on goods,"" House said.Delta and United are also capitalizing on travelers who have been willing to pay up for more expensive seats, like first class or premium economy. U.S. airlines have been racing to add more high-priced seating to their planes and grow lounges for top spenders. Inflation hasn't hurt high-income consumers as much as it has the budget-conscious, giving them more room to spend.Higher-income consumers have also bolstered fast-casual restaurant chains, like Chipotle, that come in at a slightly higher price point than the cheapest options. The burrito chain's same-store sales grew 7% during the first quarter, fueled by a 5.4% increase in foot traffic. Chipotle has a strong perception of value among diners, CEO Brian Niccol said on the company's conference call. Executives have also previously emphasized that most of its customers come from higher-income brackets.Even Walmart have been attracting consumers with deeper pockets. As customers pay more for groceries, the discounter has attracted more affluent customers and stolen market share from rivals like Target, which has historically been more popular with wealthier shoppers. The company also credited its remodeled stores and expanded merchandise on its website for appealing to households that have a more than $100,000 annual income. Target is scheduled to report quarterly earnings on Wednesday. Not all companies with higher-income customer bases have seen the same strong demand, however. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.For example, athleisure brand Lululemon's U.S. sales lagged in its most recent quarter, which CEO Calvin McDonald attributed in part to a shortage in key product sizes and not enough colorful items.Then there's Starbucks, which has always positioned itself as a premium coffee brand. The coffee giant announced a surprise decline in its U.S. same-store sales and lowered its full-year forecast, sending its shares tumbling. While CEO Laxman Narasimhan gave a laundry list of factors explaining the weak quarter, including a more value-minded consumer, Bank of America analyst Sara Senatore wrote in a research note that a social media boycott might still be the primary culprit.And Peloton's latest report was the latest in a string of disappointing results for the company. Earlier this month, the pandemic darling fired its chief executive and announced plans to lay off 15% of its staff as fewer consumers bought its pricey equipment or its much cheaper fitness subscriptions in its latest fiscal quarter.""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton's trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.— CNBC's Melissa Repko and Gabrielle Fonrouge contributed reporting to this story.",CNBC,20/05/2024,"['In this articleWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers.', ""But Big Macs and kitchen remodels aren't."", ""The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald's, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending."", 'Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.', 'The takeaway?', 'Consumers have become more selective about how and where they spend their dollars.', '""Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,"" McDonald\'s CEO Chris Kempczinski said on the company\'s conference call in late April.', 'For more than two years, consumers have dealt with sharply rising prices.', 'This year, most companies expect that their pricing strategies will return to their pre-pandemic approaches, thanks to stabilizing commodity prices.', ""But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch."", 'The consumer price index rose 3.4% over the last 12 months through April, according to Department of Labor data.', ""On Tuesday, a day before the monthly CPI report, Federal Reserve Chair Jerome Powell reiterated that inflation is falling more slowly than expected, which likely means the central bank won't be cutting interest rates anytime soon."", 'Making matters worse, many consumers have run through the savings they accumulated during the pandemic when they were collecting stimulus checks in place of traveling.', 'Instead, many are paying their everyday bills with credit cards as they face higher costs for gas, rent and groceries.', 'The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.', 'Aurelia Concepcion, 57, a case manager in New York, said she is planning only essential travel this year, drawing the line at visiting family in Georgia and Ohio.', '""Everything is too high ... taxis, rent.""', 'Concepcion says she avoids restaurants: ""It\'s too expensive.', ""I'd rather prepare my own food."", '""Concepcion isn\'t the only consumer changing spending habits.', 'Executives have been warning about a more cautious spending environment for awhile.', ""But it's finally starting to show up in some companies' quarterly results."", 'KFC, Pizza Hut and Starbucks were among the restaurant companies that reported declining same-store sales in the most recent quarter.', ""Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said."", ""And Apple iPhone sales fell 10% in the tech company's latest quarter, suggesting consumers weren't upgrading to the latest version of the smartphone in the patterns that they have in the past."", '""Some of the things that have seen the biggest run-up in prices over the last few years are items that confront people on a daily basis: the cost of eating out, the cost of groceries and the costs of fuel and gasoline and rents,"" said Columbia Business School economics professor Brett House. ""', 'Regardless of whether inflation is slowing amongst those goods, even with lower inflation, prices remain very high, and people get a daily reminder of that.', '""Big-box giant Walmart said last Thursday that shoppers are prioritizing buying food and health-related items over general merchandise, like home goods and electronics.', 'The retailer has reported that trend for several quarters now.', ""Finance chief John David Rainey told CNBC that Walmart's grocery business has gotten a boost from the widening gap between restaurant prices and the cost of cooking at home."", 'Lower-income consumers are struggling more than other demographics.', ""They couldn't save as much during the pandemic, and evidence suggests that they've exhausted those savings, according to House."", 'On top of that, rent prices have surged, and low-income consumers are more likely to rent than own.', 'PepsiCo, for one, particularly called out a weaker low-income consumer.', 'The Gatorade owner saw volume for its North American beverage business fall 5% in the quarter.', '""The lower-income consumer in the U.S. is stretched ... [and] is strategizing a lot to make their budgets get to the end of the month,"" CEO Ramon Laguarta told analysts on the company\'s conference call in April.', 'Pepsi is leaning into promotions and discounts to lure back the low-income shopper.', 'Other companies are similarly hoping deals will attract more customers.', ""McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending."", '""Consumers continue to prioritize travel as a discretionary investment in themselves,"" Ed Bastian, CEO of Delta Air Lines, the most profitable U.S. carrier, said in an interview in April.', ""Delta and its rival United last month each forecast earnings ahead of analysts' estimates for the second quarter."", 'Both carriers offer sprawling global networks and have benefited from a rebound in international travel in the wake of the pandemic, particularly to Europe and popular destinations in Asia for U.S. travelers like Japan.', 'Both carriers have predicted record summer travel demand.', 'Those airline trends align with a broader consumer shift that started after pandemic lockdowns: spending more money on experiences rather than apparel or electronics.', '""We\'re still spending disproportionately on activities and services rather than on goods,"" House said.', 'Delta and United are also capitalizing on travelers who have been willing to pay up for more expensive seats, like first class or premium economy.', 'U.S. airlines have been racing to add more high-priced seating to their planes and grow lounges for top spenders.', ""Inflation hasn't hurt high-income consumers as much as it has the budget-conscious, giving them more room to spend."", 'Higher-income consumers have also bolstered fast-casual restaurant chains, like Chipotle, that come in at a slightly higher price point than the cheapest options.', ""The burrito chain's same-store sales grew7% during the first quarter, fueled by a 5.4% increase in foot traffic."", ""Chipotle has a strong perception of value among diners, CEO Brian Niccol said on the company's conference call."", 'Executives have also previously emphasized that most of its customers come from higher-income brackets.', 'Even Walmart have beenattracting consumers with deeper pockets.', 'As customers pay more for groceries, the discounterhasattracted moreaffluent customers and stolen market share from rivalslikeTarget, which has historically been more popular with wealthier shoppers.', 'The company also credited its remodeled stores and expanded merchandise on its website for appealing to households that have a more than $100,000 annual income.', 'Target is scheduled to report quarterly earnings on Wednesday.', 'Not all companies with higher-income customer bases have seen the same strong demand, however.', ""Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending."", ""For example, athleisure brand Lululemon's U.S. sales lagged in its most recent quarter, which CEO Calvin McDonald attributed in part to a shortage in key product sizes and not enough colorful items."", ""Then there's Starbucks, which has always positioned itself as a premium coffee brand."", 'The coffee giant announced a surprise decline in its U.S. same-store sales and lowered its full-year forecast, sending its shares tumbling.', 'While CEO Laxman Narasimhan gave a laundry list of factors explaining the weak quarter, including a more value-minded consumer, Bank of America analyst Sara Senatore wrote in a research note that a social media boycott might still be the primary culprit.', ""And Peloton's latest report was the latest in a string of disappointing results for the company."", 'Earlier this month, the pandemic darling fired its chief executive and announced plans to lay off 15% of its staff as fewer consumers bought its pricey equipment or its much cheaper fitness subscriptions in its latest fiscal quarter.', '""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton\'s trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.—', ""CNBC's Melissa Repko and Gabrielle Fonrouge contributed reporting to this story.""]",0.0637336559460311,"McDonald's, king of the low-price fas-food segment, plans to start offering a $5 value meal on June 25.While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending.","""With the economic outlook for consumers unlikely to improve across the balance of this year, Peloton's trajectory on the product front is unlikely to change course ... But worryingly, app subscriptions are also under pressure – most likely because consumers are reviewing their expenses more carefully as they suffer from subscription fatigue,"" GlobalData managing director Neil Saunders said in emailed comments.—",-0.0166200759510199,"The average consumer owes $6,218 on their credit cards, up 8.5% year over year, according to a TransUnion quarterly report out last week.","Home Depot's revenue was weaker than expected because potential customers are putting off renovations until interest rates fall, executives said.",2024-05-21
+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.",2024-05-21
+Jamie Dimon could step down sooner than expected. Here’s who could run the country’s biggest bank,https://edition.cnn.com/2024/05/21/investing/jamie-dimon-jpmorgan-succession-plan/index.html,"
+  Published
+        11:51 AM EDT, Tue May 21, 2024
+    ","JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday.
+    
+            Dimon is one of the most well-known and closely listened to CEOs in the world. Over the course of his tenure at JPMorgan Chase, he’s become somewhat synonymous with the largest US bank by assets.
+    
+            But Dimon can’t lead forever, and at 68 years old, the question of succession has grown more important.
+    
+            The timetable for stepping down — which he has long joked was “five years away” any time the question was put to him — is “not five years anymore,” Dimon said at the bank’s investor conference this week.
+    
+            Dimon, who has led the bank since 2006, said that while “I still have the energy I’ve always had, I think when I can’t put on the jersey or any given full thing, I should leave.”
+    
+            Succession plans at the bank, he said, are “well on the way.”
+    
+            Shares of the company’s stock sold off after Dimon’s announcement, closing 4.3% lower.
+    
+            “We believe that it will take time for the street to gain comfort with the next CEO and [Monday’s] stock reaction was evidence of that (if one was needed),” wrote Bank of America analysts in a note on Tuesday. “Dimon has delivered unparalleled shareholder returns during his tenure as CEO while navigating the bank through some major macro-economic crises.”
+    
+            The Bank of America analysts forecast that Dimon will step down in late 2025 or 2026, but the specifics of JPMorgan’s succession plans have been the subject of speculation on Wall Street for many years.
+    
+            Earlier this year, some of the bank’s top executives were moved into new roles in order to expand their experience.
+    
+            The bank appointed Marianne Lake as the sole CEO of the consumer division, an area previously run by both Lake and Jennifer Piepszak.
+    
+            Piepszak, meanwhile, now leads the company’s newly combined commercial and investment bank with her co-CEO Troy Rohrbaugh. Rohrbaugh is the former head of trading and securities services for the bank.
+    
+            Other potential successors include Mary Erdoes, CEO of asset and wealth management; chief financial officer Jeremy Barnum and president and chief operating officer Daniel Pinto.
+    
+            In 2020, Dimon experienced an “acute aortic dissection” — a tear in the inner lining of the aorta blood vessel — requiring surgery. Then co-COOs Gordon Smith and Daniel Pinto lead the company in his absence.
+    
+            Smith retired from the bank in January 2022.
+    
+            Dimon underwent treatment for throat cancer in 2014. In an interview with CNN, he spoke about how being diagnosed with cancer changed his outlook on life.
+    
+            “Everyone knows they’re going to die, but at one point it’s right here and you realize it’s true and it’s true maybe sooner than you think,” Dimon said. “And so it’s nice to end every day by saying, ‘That was a good day.’ Every meeting, that was a good meeting. Every week, that was a good week.”
+    
+            As for what’s next, Dimon says he hasn’t entirely ruled out a future in politics. Last spring he told Bloomberg, “I love my country, and maybe one day I’ll serve my country in one capacity or another.”",CNN,21/05/2024,"['JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday.', 'Dimon is one of the most well-known and closely listened to CEOs in the world.', 'Over the course of his tenure at JPMorgan Chase, he’s become somewhat synonymous with the largest US bank by assets.', 'But Dimon can��t lead forever, and at 68 years old, the question of succession has grown more important.', 'The timetable for stepping down — which he has long joked was “five years away” any time the question was put to him — is “not five years anymore,” Dimon said at the bank’s investor conference this week.', 'Dimon, who has led the bank since 2006, said that while “I still have the energy I’ve always had, I think when I can’t put on the jersey or any given full thing, I should leave.”', 'Succession plans at the bank, he said, are “well on the way.”', 'Shares of the company’s stock sold off after Dimon’s announcement, closing 4.3% lower.', '“We believe that it will take time for the street to gain comfort with the next CEO and [Monday’s] stock reaction was evidence of that (if one was needed),” wrote Bank of America analysts in a note on Tuesday.', '“Dimonhas delivered unparalleled shareholder returns during his tenure as CEO while navigating the bank through some major macro-economic crises.”', 'The Bank of America analysts forecast that Dimon will step down in late 2025 or 2026, but the specifics of JPMorgan’s succession plans have been the subject of speculation on Wall Street for many years.', 'Earlier this year, some of the bank’s top executives were moved into new roles in order to expand their experience.', 'The bank appointed Marianne Lake as the sole CEO of the consumer division, an area previously run by both Lake and Jennifer Piepszak.', 'Piepszak, meanwhile, now leads the company’s newly combined commercial and investment bank with her co-CEO Troy Rohrbaugh.', 'Rohrbaugh is the former head of trading and securities services for the bank.', 'Other potential successors include Mary Erdoes, CEO of asset and wealth management; chief financial officer Jeremy Barnum and president and chief operating officer Daniel Pinto.', 'In 2020, Dimon experienced an “acute aortic dissection” — a tear in the inner lining of the aorta blood vessel — requiring surgery.', 'Then co-COOs Gordon Smith and Daniel Pinto lead the company in his absence.', 'Smith retired from the bank in January 2022.', 'Dimonunderwent treatmentfor throat cancer in 2014.', 'In an interview with CNN, he spoke about how being diagnosed with cancer changed his outlook on life.', '“Everyone knows they’re going to die, but at one point it’s right here and you realize it’s true and it’s true maybe sooner than you think,” Dimon said. “', 'And so it’s nice to end every day by saying, ‘That was a good day.’', 'Every meeting, that was a good meeting.', 'Every week, that was a good week.”', 'As for what’s next, Dimon says he hasn’t entirely ruled out a future in politics.', 'Last springhe told Bloomberg, “I love my country, and maybe one day I’ll serve my country in one capacity or another.”']",0.2324663907728094,"Other potential successors include Mary Erdoes, CEO of asset and wealth management; chief financial officer Jeremy Barnum and president and chief operating officer Daniel Pinto.",Dimonunderwent treatmentfor throat cancer in 2014.,0.7449797466397285,"JPMorgan Chase CEO Jamie Dimon has bumped up his retirement plans, the longtime head of America’s largest bank said Monday.","Shares of the company’s stock sold off after Dimon’s announcement, closing 4.3% lower.",2024-05-21
+Caitlin Clark just did something no athlete has done since Michael Jordan,https://edition.cnn.com/2024/05/21/business/caitlin-clark-wilson-basketball-deal/index.html,"
+  Published
+        11:01 AM EDT, Tue May 21, 2024
+    ","Breakout basketball star Caitlin Clark has a new achievement that hasn’t been accomplished since Michael Jordan.
+    
+            The WNBA player signed a multiyear deal with Wilson Sporting Goods Co., the league’s official basketball supplier, for “signature basketball collections celebrating Clark’s continued legacy,” the company announced Tuesday.
+    
+            Wilson said that Clark will “test, advise and provide feedback on a range” of its basketball products, become a brand ambassador and release new collections that celebrate her throughout the rest of 2024. In addition, she will “creatively direct her first-ever signature basketball line” that will roll out later this year.
+    
+            Financial terms of the deal were not released.
+    
+            She’s the first-ever female athlete to have her own collection with Wilson, a company spokesperson told CNN, with the series being built similar to Jordan’s collection in the 1980s, which included signature basketballs.
+    
+            “Wilson has been with me across some of the most pivotal moments in my career so far, and I couldn’t be more excited to continue driving basketball forward alongside them,” Clark said in a press release. “It feels surreal to have my own basketball collection, and to affect what that means for future generations of athletes.”
+    
+            The first collection released Tuesday on Wilson’s website, with a limited collection of gold-colored basketballs featuring a drawing of Clark along with her signature.
+    
+            Wilson, which has produced the basketballs for the NBA for several decades, became the official game ball of the WNBA in 2020. The company also sells basketballs with WNBA team logos on them.
+    
+            Clark, the no. 1 draft pick, joined the Indiana Fever earlier this month and has been a boon for the league since: Her debut drew an average of 2.1 million viewers on ESPN2, ESPN+ and Disney+, making it the most watched WNBA game in more than two decades.
+    
+            Nike is also reportedly on the verge of signing Clark to design her shoe line, but no official deal has been formally announced. She also has sponsorship deals with State Farm, Gatorade, Panini and others, valued at around $3 million.",CNN,21/05/2024,"['Breakout basketball star Caitlin Clark has a new achievement that hasn’t been accomplished since Michael Jordan.', 'The WNBA player signed a multiyear deal with Wilson Sporting Goods Co., the league’s official basketball supplier, for “signature basketball collections celebrating Clark’s continued legacy,” the company announced Tuesday.', 'Wilson said that Clark will “test, advise and provide feedback on a range” of its basketball products, become a brand ambassador and release new collections that celebrate her throughout the rest of 2024.', 'In addition, she will “creatively direct her first-ever signature basketball line” that will roll out later this year.', 'Financial terms of the deal were not released.', 'She’s the first-ever female athlete to have her own collection with Wilson, a company spokesperson told CNN, with the series being built similar to Jordan’s collection in the 1980s, which included signature basketballs.', '“Wilsonhas been with me across some of the most pivotal moments in my career so far, and I couldn’t be more excited to continue driving basketball forward alongside them,” Clark said in a press release. “', 'It feels surreal to have my own basketball collection, and to affect what that means for future generations of athletes.”', 'The first collection released Tuesday on Wilson’s website, with a limited collection of gold-colored basketballs featuring a drawing of Clark along with her signature.', 'Wilson, which has produced the basketballs for the NBA for several decades, became the official game ball of the WNBA in 2020.', 'The company also sells basketballs with WNBA team logos on them.', 'Clark, the no.', '1 draft pick, joined the Indiana Fever earlier this month and has been a boon for the league since: Her debut drew an average of 2.1 million viewers on ESPN2, ESPN+ and Disney+, making it the most watched WNBA game in more than two decades.', 'Nike is also reportedly on the verge of signing Clark to design her shoe line, but no official deal has been formally announced.', 'She also has sponsorship deals with State Farm, Gatorade, Panini and others,valuedat around $3 million.']",0.0934750840559382,"The WNBA player signed a multiyear deal with Wilson Sporting Goods Co., the league’s official basketball supplier, for “signature basketball collections celebrating Clark’s continued legacy,” the company announced Tuesday.","Nike is also reportedly on the verge of signing Clark to design her shoe line, but no official deal has been formally announced.",0.8845897912979126,"1 draft pick, joined the Indiana Fever earlier this month and has been a boon for the league since: Her debut drew an average of 2.1 million viewers on ESPN2, ESPN+ and Disney+, making it the most watched WNBA game in more than two decades.",,2024-05-21
+"Why is Slough, near London, Europe's largest data centre hub?",https://www.bbc.co.uk/news/articles/cyrl7nlnkjpo,2024-05-21T05:21:22.787Z,"The town of Slough in Berkshire, just outside London, has had a terrible press over the years.  Many will put that down to the British sitcom The Office, yet even before that in 1937 the poet John Betjeman wrote ""Come friendly bombs and fall on Slough!"". But that is perhaps changing.  With its direct transport links to London, close proximity to Heathrow Airport and fast fibre optic connections, it is said to be perfectly placed for a hi-tech revolution. According to the Slough and South Bucks Observer, the town has ""Europe’s largest collection of data centres"", with 34 currently based there and more on the way.  Demand for data centres has been growing ever since the internet took off. According to the local newspaper, Slough, which is just outside the M25 and is less than 10 miles away from Heathrow, welcomed its first data centre in 2005. Slough Trading Estate is now considered to be the largest data centre hub in Europe. For those who don't know, these data centres are where pretty much anything on your phone or computer is stored - the Cloud, websites, social media, pictures, music and more.  Many of London's banks and emergency services use Slough's data centres. But this is a secretive and highly sensitive world where security is not unsurprisingly paramount. Many data centres do not want media attention and politely declined our requests to go inside them.  Even the actual number of data centres in Slough is difficult to pin down. Slough Borough Council says there is ""no definitive record source"" to identify the number of data centres in the borough but it is estimated to be about 30 to 35.  So when we were invited in by Virgin Media O2, it was a rare opportunity to see inside a data centre. Tom Finch, a technical site engineer who works in the data centre, says the site is O2's largest mobile data centre in the UK and manages traffic for 3G, 4G and 5G customers.  ""You have voice calls, you have texts, you have all of your social media platforms like WhatsApp. Everything you operate on your cellular data on your mobile phone will pass through this data centre,"" he says. He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""Slough is on the data highway in the UK. It's far enough outside the capital but through here we have a lot of traffic passing,"" he says. Dan Goodenough, the technical site operations manager, says they have to predict when people want data and demand has gone up since the pandemic. He says they see ""surges in traffic demand, but also the types of traffic"".  ""For example it's home working but it's also online gaming, virtual reality, there's different types of traffic that go across our network today than there was 10 years ago,"" he says. ""The most recent Fortnite download for example, we saw massive peaks in the amount of data our customers were downloading. And that's why we invest £10bn in infrastructure to make sure we can provide the best service."" So why Slough?  According to the website datacenters.com, the advantages of Slough are its strategic location with excellent transport links to London.  The proximity of Heathrow is also an advantage. It says the Slough data centre market offers a number of size facilities to allow expansion.  And Slough also has very robust and fast fibre optic broadband connectivity. It is situated on the main fibre optic line between London and the US. The borough council says being on the main cabling running out of London to Ireland and the US is an advantage.  It says it was the capital's banks that helped create this data centre hub. ""Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says.  ""Co-location is an advantage for data centres, so the existing cluster attracts further interest.""  However, data centres are resource hungry and use a lot of electricity to keep the servers cool and the internet running.  They also use a lot of water for cooling. In the 2022 drought, Thames Water looked at how much water data centres in the area were using.  National Grid's chief executive, John Pettigrew, has previously said that the power data centres use would increase six-fold in the next decade. He said the grid was becoming ""constrained"" and ""bold action"" was needed to create a network able to cope with ""dramatically"" growing demand. According to the website datacenters.com, sustainable energy is a goal in Slough. ""The International Energy Agency reports that hyperscale data centres, which are prevalent in Slough, have accounted for a substantial increase in energy demand globally,"" it says. ""This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""  On the site, Virgin O2 also monitors its phone mast network and its broadband. Emma Fish, the regional operations manager, says data centres are key in the world today and Slough provides the ideal base. ""I think people do realise now how important broadband is,"" she says.  ""I think people class it as a fourth utility. When you buy a house, it's the first thing you look at really to see how fast the broadband is and how reliable it is and I think we depend on it more so now than we have ever done."" ""I think Slough is a key location. Just off the M4, just outside London, I just think Slough is the perfect location for data centres,"" she adds. Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram. Send your story ideas to hello.bbclondon@bbc.co.uk ",BBC,21/05/2024,"['The town of Slough in Berkshire, just outside London, has had a terrible press over the years.', 'Many will put that down to the British sitcom The Office, yet even before that in 1937 the poet John Betjeman wrote ""Come friendly bombs and fall on Slough!"".', 'But that is perhaps changing.', 'With its direct transport links to London, close proximity to Heathrow Airport and fast fibre optic connections, it is said to be perfectly placed for a hi-tech revolution.', 'According to the Slough and South Bucks Observer, the town has ""Europe’s largest collection of data centres"", with 34 currently based there and more on the way.', 'Demand for data centres has been growing ever since the internet took off.', 'According to the local newspaper, Slough, which is just outside the M25 and is less than 10 miles away from Heathrow, welcomed its first data centre in 2005.', 'Slough Trading Estate is now considered to be the largest data centre hub in Europe.', ""For those who don't know, these data centres are where pretty much anything on your phone or computer is stored - the Cloud, websites, social media, pictures, music and more."", ""Many of London's banks and emergency services use Slough's data centres."", 'But this is a secretive and highly sensitive world where security is not unsurprisingly paramount.', 'Many data centres do not want media attention and politely declined our requests to go inside them.', 'Even the actual number of data centres in Slough is difficult to pin down.', 'Slough Borough Council says there is ""no definitive record source"" to identify the number of data centres in the borough but it is estimated to be about 30 to 35.', 'So when we were invited in by Virgin Media O2, it was a rare opportunity to see inside a data centre.', 'Tom Finch, a technical site engineer who works in the data centre, says the site is O2\'s largest mobile data centre in the UK and manages traffic for 3G, 4G and 5G customers. ""', 'You have voice calls, you have texts, you have all of your social media platforms like WhatsApp.', 'Everything you operate on your cellular data on your mobile phone will pass through this data centre,"" he says.', 'He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""', 'Slough is on the data highway in the UK.', 'It\'s far enough outside the capital but through here we have a lot of traffic passing,"" he says.', 'Dan Goodenough, the technical site operations manager, says they have to predict when people want data and demand has gone up since the pandemic.', 'He says they see ""surges in traffic demand, but also the types of traffic"". ""', 'For example it\'s home working but it\'s also online gaming, virtual reality, there\'s different types of traffic that go across our network today than there was 10 years ago,"" he says. ""', 'The most recent Fortnite download for example, we saw massive peaks in the amount of data our customers were downloading.', 'And that\'s why we invest £10bn in infrastructure to make sure we can provide the best service.""', 'So why Slough?', 'According to the website datacenters.com, the advantages of Slough are its strategic location with excellent transport links to London.', 'The proximity of Heathrow is also an advantage.', 'It says the Slough data centre market offers a number of size facilities to allow expansion.', 'And Slough also has very robust and fast fibre optic broadband connectivity.', 'It is situated on the main fibre optic line between London and the US.', 'The borough council says being on the main cabling running out of London to Ireland and the US is an advantage.', 'It says it was the capital\'s banks that helped create this data centre hub. ""', 'Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says. ""', 'Co-location is an advantage for data centres, so the existing cluster attracts further interest.""', 'However, data centres are resource hungry and use a lot of electricity to keep the servers cool and the internet running.', 'They also use a lot of water for cooling.', 'In the 2022 drought, Thames Water looked at how much water data centres in the area were using.', ""National Grid's chief executive, John Pettigrew, has previously said that the power data centres use would increase six-fold in the next decade."", 'He said the grid was becoming ""constrained"" and ""bold action"" was needed to create a network able to cope with ""dramatically"" growing demand.', 'According to the website datacenters.com, sustainable energy is a goal in Slough. ""', 'The International Energy Agency reports that hyperscale data centres, which are prevalent in Slough, have accounted for a substantial increase in energy demand globally,"" it says. ""', 'This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""', 'On the site, Virgin O2 also monitors its phone mast network and its broadband.', 'Emma Fish, the regional operations manager, says data centres are key in the world today and Slough provides the ideal base. ""', 'I think people do realise now how important broadband is,"" she says. ""', 'I think people class it as a fourth utility.', 'When you buy a house, it\'s the first thing you look at really to see how fast the broadband is and how reliable it is and I think we depend on it more so now than we have ever done."" ""', 'I think Slough is a key location.', 'Just off the M4, just outside London, I just think Slough is the perfect location for data centres,"" she adds.', 'Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram.', 'Send your story ideas to hello.bbclondon@bbc.co.uk']",0.1964139971947754,"This has prompted data centre operators in Slough to invest in renewable energy sources, energy-efficient equipment, and advanced cooling technologies to reduce their carbon footprint.""","Slough started as a data centre location by banking institutions for their own in-house data centres, looking for locations that were outside of London for emergency planning reasons, but close enough so that the miniscule time delay in transmission of data across the distance of cabling was sufficiently small to not be an issue to financial markets in terms of transaction delays on trading,"" the council says. """,0.7485351525247097,"He says demand has increased since the rise in home working and thinks Slough benefits from very fast fibre optic connections. ""","The town of Slough in Berkshire, just outside London, has had a terrible press over the years.",2024-05-21
+"How Macy’s, Kohl’s and Nordstrom are chasing Millennial, Gen Z shoppers",https://www.cnbc.com/2024/05/20/macys-kohls-nordstrom-earnings-department-stores-younger-shoppers.html,2024-05-20T20:17:50+0000,"In this articleDepartment stores are aging — and so are their customers.For more than a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything. For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales.Department stores like Macy's, Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age. Harsh scrutiny from Wall Street has contributed to a fresh attempt by Nordstrom to take the company private, and a bid by activist investors to take over Macy's and turn it into a private company. Kohl's, too, has been the target of activist investors in the past few years.Oliver Chen, a retail analyst at TD Cowen, said attracting younger customers has become more urgent, since the retailers have ""lost so much ground already.""""When you're a department store, you need to — and you should — be catering to younger and older,"" he said.Customer data illustrates the challenge for the retailers: At Kohl's, 40% of customers are baby boomers, according to Numerator, a market research firm that tracks retail trends and sales patterns with a panel of 150,000 U.S. consumers that's balanced to represent the population. At Macy's, more than a third of customers — 36% — are boomers. (Macy's data includes just its namesake stores and website, not Bloomingdale's and beauty chain Bluemercury.)Baby boomers are age 60 or older, according to Numerator's definition. The firm defines Gen X as between ages 43 and 59. Numerator puts millennials in the age 29 to 42 range, and Gen Z between 18 and 28, since it only collects data from consumers 18 or older.Nordstrom is the only one of the three that has a larger base of millennial and Gen X shoppers than baby boomers, with boomers accounting for 25% of its customer base. Its customer data includes both its namesake stores and its off-price retail chain, Nordstrom Rack, which has been known to draw in younger, fashion-forward customers hunting for deals.All three department stores have announced plans to woo new customers — including younger ones. Yet they have shared weak outlooks for the fiscal year, calling for little, if any, year-over-year sales growth.Chen said the retailers are paying more attention to the problem, since Macy's and Kohl's both have new CEOs and all three are trying to improve their private brands. The lines can help a retailer stand out because they are exclusive and often priced lower than national brands.Aging customers aren't department stores' only hurdle. The chains, like other retailers, have struggled with foot traffic and sales as consumers spend less on clothing, bedding and other discretionary items while more of their money goes toward everyday items because of inflation.To attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department.In an interview with CNBC in late March, CEO Tom Kingsbury said department stores, including Kohl's, have relied too much on coupons to get customers through their doors. That formula doesn't work for millennial and Gen Z shoppers, he said. They want compelling merchandise and clear pricing — things they're finding at off-price stores like T.J. Maxx instead.Led by Kingsbury, Kohl's is trying to capitalize on life stages that tend to spark purchases, such as decorating an apartment for the first time or having a baby. The retailer plans to add Babies R Us shops to about 200 of its stores in the fall. It is now carrying more home goods, such as lighting and wall art.Kohl's has also used Sephora shops, which it is expanding to all stores, to draw in younger shoppers and try to nudge them to other parts of the store.""When they come in for Sephora, we want to make sure we can give them product they want as well,"" Kingsbury said.Still, Kohl's doesn't expect to see immediate results from the moves. It said in March that it anticipates net sales to range from a 1% decrease to a 1% increase for the full year, and comparable sales to range from flat to 2% higher.With a new CEO at the top, Macy's wants to refresh its namesake brand and shutter stores that have dragged down the company's sales.It plans to close more than a quarter of its approximately 500 namesake stores by early 2027. At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles.The company plans to open up to 30 of its smaller off-mall Macy's stores over the next two years. The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.It's also opening more Bloomingdale's stores and more locations of Bluemercury, its beauty chain — and taking steps to woo younger customers in the process.Macy's CEO Tony Spring, who stepped into the role in February, previously led Bloomingdale's, which carries luxury brands but also has popular private labels like clothing brand Aqua. It's also known for unique customer experiences, such as limited-time events or collections that tap into pop culture moments like the ""Barbie"" movie.He's hinted more of that is coming to Macy's. The company has debuted new, exclusive clothing brands and given others a makeover. It's trying to make Macy's more of an attraction, including by having a play area in Toys R Us shops within the stores or cocktails inside of Bloomie's, its smaller, off-mall version of Bloomingdale's.Despite efforts to jolt sales, the company's forecast is muted: Macy's expects full-year net sales to range between $22.2 billion and $22.9 billion, down from $23.09 billion in the prior year. It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1.5% to a gain of 1.5% compared with the year-ago period on an owned-plus-licensed basis and including third-party marketplace sales.One of the dilemmas for Macy's? Gen Z and millennial shoppers aren't as loyal, TD Cowen's Chen said. They shop high and low, buying a luxury handbag one day and an outfit from Target, Costco or Zara another.""You can actually look better for cheaper now,"" he said.Compared with its department store rivals, Nordstrom has had more success with younger shoppers.Some of that boils down to what the Seattle-based retailer carries: Nordstrom has been quicker to sign deals with hot brands and direct-to-consumer names, such as Skims, Kim Kardashian's shapewear company; and Beis, the handbag and luggage brand started by actress Shay Mitchell. It launched Australian fashion brand Princess Polly in January and timed the debut of millennial-focused fashion brand Nasty Gal with an activation in Los Angeles coinciding with the Coachella music and arts festival.Another advantage for Nordstrom? Most of its stores are Nordstrom Rack locations, off-price stores that may have a friendlier price point for younger shoppers.Still, CEO Erik Nordstrom said on the company's March earnings call that the retailer wants to do better. He said it's starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.""Nordstrom is trying to increase its fashion-forward merchandise in a new way, too. About a month ago, it rolled out a third-party marketplace that allows it to sell a wider variety of items without taking on the risk of owning the inventory. The marketplace approach follows the model that Amazon and more recently, Walmart, has used to bulk up its online offerings.With the marketplace, Nordstrom has said it will double or triple the number of items sold through its website and app. Macy's, too, has begun using a third-party marketplace to add more items and brands.Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.Marketplaces can help department stores, as they're under pressure to tightly manage inventory yet appeal to what different age groups want, said Christine Barton, a senior partner who researches consumer habits for the Boston Consulting Group.Cost pressures can cause a retailer to place safer bets and order the same kind of merchandise that they always carry.""You take away some of that newness,"" she said. ""You going back to more tried and true brands or products and so that becomes a bit of a self-reinforcing prophecy in terms of that younger consumer.""Breaking away from those old habits is something that department stores will need to do if they want to become a staple for younger generations — and stay relevant for decades more, she said.",CNBC,20/05/2024,"['In this articleDepartment stores are aging — and so are their customers.', 'For more than a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything.', ""For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales."", ""Department stores like Macy's, Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age."", ""Harsh scrutiny from Wall Street has contributed to a fresh attempt by Nordstrom to take the company private, and a bid by activist investors to take over Macy's and turn it into a private company."", ""Kohl's, too, has been the target of activist investors in the past few years."", 'Oliver Chen, a retail analyst at TD Cowen, said attracting younger customers has become more urgent, since the retailers have ""lost so much ground already.', '""""When you\'re a department store, you need to — and you should — be catering to younger and older,"" he said.', ""Customer data illustrates the challenge for the retailers: At Kohl's, 40% of customers are baby boomers, according to Numerator, a market research firm that tracks retail trends and sales patterns with a panel of 150,000 U.S. consumers that's balanced to represent the population."", ""At Macy's, more than a third of customers — 36% — are boomers. ("", ""Macy's data includes just its namesake stores and website, not Bloomingdale's and beauty chain Bluemercury.)Baby boomers are age 60 or older, according to Numerator's definition."", 'The firm defines Gen X as between ages 43 and 59.', 'Numerator puts millennials in the age 29 to 42 range, and Gen Z between 18 and 28, since it only collects data from consumers 18 or older.', 'Nordstrom is the only one of the three that has a larger base of millennial and Gen X shoppers than baby boomers, with boomers accounting for 25% of its customer base.', 'Its customer data includes both its namesake stores and its off-price retail chain, Nordstrom Rack, which has been known to draw in younger, fashion-forward customers hunting for deals.', 'All three department stores have announced plans to woo new customers — including younger ones.', 'Yet they have shared weak outlooks for the fiscal year, calling for little, if any, year-over-year sales growth.', ""Chen said the retailers are paying more attention to the problem, since Macy's and Kohl's both have new CEOs and all three are trying to improve their private brands."", 'The lines can help a retailer stand out because they are exclusive and often priced lower than national brands.', ""Aging customers aren't department stores' only hurdle."", 'The chains, like other retailers, have struggled with foot traffic and sales as consumers spend less on clothing, bedding and other discretionary items while more of their money goes toward everyday items because of inflation.', ""To attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department."", ""In an interview with CNBC in late March, CEO Tom Kingsbury said department stores, including Kohl's, have relied too much on coupons to get customers through their doors."", ""That formula doesn't work for millennial and Gen Z shoppers, he said."", ""They want compelling merchandise and clear pricing — things they're finding at off-price stores like T.J. Maxx instead."", ""Led by Kingsbury, Kohl's is trying to capitalize on life stages that tend to spark purchases, such as decorating an apartment for the first time or having a baby."", 'The retailer plans to add Babies R Us shops to about 200 of its stores in the fall.', 'It is now carrying more home goods, such as lighting and wall art.', ""Kohl's has also used Sephora shops, which it is expanding to all stores, to draw in younger shoppers and try to nudge them to other parts of the store."", '""When they come in for Sephora, we want to make sure we can give them product they want as well,"" Kingsbury said.', ""Still, Kohl's doesn't expect to see immediate results from the moves."", 'It said in March that it anticipates net sales to range from a 1% decrease to a 1% increase for the full year, and comparable sales to range from flat to 2% higher.', ""With a new CEO at the top, Macy's wants to refresh its namesake brand and shutter stores that have dragged down the company's sales."", 'It plans to closemore than a quarterof its approximately 500 namesake stores by early 2027.', ""At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles."", ""The company plans to open up to 30 of its smaller off-mall Macy's storesover the next two years."", 'The locations are roughly one-fifth the size of its traditional mall stores and typically next to grocers, big-box stores and off-price retailers, which have steadier foot traffic.', ""It's also opening more Bloomingdale's stores and more locations of Bluemercury, its beauty chain — and taking steps to woo younger customers in the process."", ""Macy's CEO Tony Spring, who stepped into the role in February, previously led Bloomingdale's, which carries luxury brands but also has popular private labels like clothing brand Aqua."", 'It\'s also known for unique customer experiences, such as limited-time events or collections that tap into pop culture moments like the ""Barbie"" movie.', ""He's hinted more of that is coming to Macy's."", 'The company has debuted new, exclusive clothing brands and given others a makeover.', ""It's trying to make Macy's more of an attraction, including by having a play area in Toys R Us shops within the stores or cocktails inside of Bloomie's, its smaller, off-mall version of Bloomingdale's."", ""Despite efforts to jolt sales, the company's forecast is muted: Macy's expects full-year net sales to range between $22.2 billion and $22.9 billion, down from $23.09 billion in the prior year."", 'It expects comparable sales, which take out the impact of store openings and closures, to range from a decline of about 1.5% to a gain of 1.5% compared with the year-ago period on an owned-plus-licensed basis and including third-party marketplace sales.', ""One of the dilemmas for Macy's?"", ""Gen Z and millennial shoppers aren't as loyal, TD Cowen's Chen said."", 'They shop high and low, buying a luxury handbag one day and an outfit from Target, Costco or Zara another.', '""You can actually look better for cheaper now,"" he said.', 'Compared with its department store rivals, Nordstrom has had more success with younger shoppers.', ""Some of that boils down to what the Seattle-based retailer carries: Nordstrom has been quicker to sign deals with hot brands and direct-to-consumer names, such as Skims, Kim Kardashian's shapewear company; and Beis, the handbag and luggage brand started by actress Shay Mitchell."", 'It launched Australian fashion brand Princess Polly in January and timed the debut of millennial-focused fashion brand Nasty Gal with an activation in Los Angeles coinciding with the Coachella music and arts festival.', 'Another advantage for Nordstrom?', 'Most of its stores are Nordstrom Rack locations, off-price stores that may have a friendlier price point for younger shoppers.', ""Still, CEO Erik Nordstrom said on the company's March earnings call that the retailer wants to do better."", 'He said it\'s starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.', '""Nordstrom is trying to increase its fashion-forward merchandise in a new way, too.', 'About a month ago, it rolled out a third-party marketplace that allows it to sell a wider variety of items without taking on the risk of owning the inventory.', 'The marketplace approach follows the model that Amazon and more recently, Walmart, has used to bulk up its online offerings.', 'With the marketplace, Nordstrom has said it will double or triple the number of items sold through its website and app.', ""Macy's, too, has begun using a third-party marketplace to add more items and brands."", ""Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week."", ""Marketplaces can help department stores, as they're under pressure to tightly manage inventory yet appeal to what different age groups want, said Christine Barton, a senior partner who researches consumer habits for the Boston Consulting Group."", 'Cost pressures can cause a retailer to place safer bets and order the same kind of merchandise that they always carry.', '""You take away some of that newness,"" she said. ""', 'You going back to more tried and true brands or products and so that becomes a bit of a self-reinforcing prophecy in terms of that younger consumer.', '""Breaking away from those old habits is something that department stores will need to do if they want to become a staple for younger generations — and stay relevant for decades more, she said.']",0.2190840118688906,"Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.","For many millennial and Gen Z consumers, that hasn't been enough — especially as they discover items on social media and specialty retailers, big-box stores and online players steal away sales.",0.0798774834336905,"He said it's starting to a see a turnaround with the younger customer, ""which is an area we have a multiyear plan to improve.","Like Macy's and Kohl's, though, Nordstrom has a lackluster forecast: It expects full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the previous fiscal year, which had an additional week.",2024-05-21
+Roche says weight loss drug shows promising results in early trial,https://www.cnbc.com/2024/05/16/roche-weight-loss-drug-shows-promising-results-in-early-trial.html,2024-05-16T14:03:34+0000,"In this articleRoche on Thursday said its experimental weight loss drug showed promising results in an early-stage trial, boosting the company's bid to compete in the booming market for those treatments.The Swiss company joined a slate of drugmakers racing to develop obesity drugs through its almost $3 billion acquisition of Carmot Therapeutics in December. But its weekly weight loss injection, called CT-388, is still years away from entering the market.The weight loss drug space is dominated by treatments from Novo Nordisk and Eli Lilly, and some analysts say the market will be worth $100 billion by the end of the decade.Roche's CT-388 helped patients with obesity lose 18.8% of their weight relative to those who received a placebo, after 24 weeks in the phase one trial, the company said.Roche added that all of the patients who received the drug lost more than 5% of their weight. Meanwhile, 70% of those people lost more than 15% of their weight, and 45% lost more than 20%.The treatment works by mimicking the effect of two gut hormones — GLP-1 and GIP — to suppress a person's appetite, just like Eli Lilly's popular weight loss drug Zepbound and diabetes injection Mounjaro.Scientists have hypothesized that targeting those two hormones could have a meaningful effect on weight loss and blood sugar levels with fewer side effects than drugs that only target GLP-1, such as Novo Nordisk's weight loss treatment Wegovy.Roche's CT-388 is being developed to treat both obesity and diabetes.Roche said it did not observe any new or unexpected side effects in patients taking CT-388. The company noted that mild to moderate gastrointestinal side effects were the most common, consistent with other weight loss and diabetes drugs that work the same way.CT-388 also normalized blood sugar levels in a subgroup of patients with pre-diabetes.Roche said it is testing CT-388 in an additional group of patients with obesity and diabetes over 12 weeks. The company expects data from those patients in the second half of the year.Eli Lilly's Zepbound delivered up to 22% weight loss after 72 weeks, while Novo Nordisk's Wegovy has led to 15% weight loss after 68 weeks.",CNBC,16/05/2024,"[""In this articleRoche on Thursday saidits experimental weight loss drug showed promising results in an early-stage trial, boosting the company's bid to compete in the booming market for those treatments."", 'The Swiss company joined a slate of drugmakers racing to develop obesity drugs through its almost $3 billion acquisition of Carmot Therapeutics in December.', 'But its weekly weight loss injection, called CT-388, is still years away from entering the market.', 'The weight loss drug space is dominated by treatments from Novo Nordisk and Eli Lilly, and some analysts say the market will be worth $100 billion by the end of the decade.', ""Roche's CT-388 helped patients with obesity lose 18.8% of their weight relative to those who received a placebo, after 24 weeksin the phase one trial, the company said."", 'Roche added that all of the patients who received the drug lost more than 5% of their weight.', ""Meanwhile, 70% of those people lost more than 15% of their weight, and 45% lost more than 20%.The treatment works by mimicking the effect of two gut hormones — GLP-1 and GIP — to suppress a person's appetite, just like Eli Lilly's popular weight loss drug Zepbound and diabetes injection Mounjaro."", ""Scientists have hypothesized that targeting those two hormones could have a meaningful effect on weight loss and blood sugar levels with fewer side effects than drugs that only target GLP-1, such as Novo Nordisk's weight loss treatment Wegovy."", ""Roche's CT-388 is being developed to treat both obesity and diabetes."", 'Roche said it did not observe any new or unexpected side effects in patients taking CT-388.', 'The company noted that mild to moderate gastrointestinal side effects were the most common, consistent with other weight loss and diabetes drugs that work the same way.', 'CT-388 also normalized blood sugar levels in a subgroup of patients with pre-diabetes.', 'Roche said it is testing CT-388 in an additional group of patients with obesity and diabetes over 12 weeks.', 'The company expects data from those patients in the second half of the year.', ""Eli Lilly's Zepbound delivered up to 22% weight loss after 72 weeks, while Novo Nordisk's Wegovy has led to 15% weight loss after 68 weeks.""]",-0.1197380032998948,"In this articleRoche on Thursday saidits experimental weight loss drug showed promising results in an early-stage trial, boosting the company's bid to compete in the booming market for those treatments.","Eli Lilly's Zepbound delivered up to 22% weight loss after 72 weeks, while Novo Nordisk's Wegovy has led to 15% weight loss after 68 weeks.",0.9663981000582376,"In this articleRoche on Thursday saidits experimental weight loss drug showed promising results in an early-stage trial, boosting the company's bid to compete in the booming market for those treatments.",,2024-05-21
+Biden's EV tariffs may not be enough to stave off the threat of Chinese vehicles in the U.S.,https://www.cnbc.com/2024/05/15/china-biden-ev-tariffs-may-not-be-enough-to-stave-off-growing-threat.html,2024-05-15T19:46:13+0000,"DETROIT — President Joe Biden's plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars on the auto sales market in the U.S.The 100% tariff announced Tuesday, up from a current import tax of about 25%, covers EVs imported from China but could still leave room for the often-cheap Chinese models to undercut domestic prices and leaves loopholes for imports made by Chinese automakers in other countries, like neighboring Mexico. It also does nothing to address current or future gas-powered vehicles imported from the Communist country to the U.S.Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay but won't stop Chinese automakers from coming to the U.S. with EVs.""They're going to be here. It's inevitable. It's just a matter of time,"" said Dan Hearsch, Americas co-leader of automotive and industrial practice at consulting firm AlixPartners. ""Western automakers, Western suppliers really ought to be upping their game and preparing to take this on or play with them. It's one or the other.""The EV tariffs, including other increases regarding battery materials, were among new tariff rates on $18 billion worth of Chinese imports.For decades, Chinese auto companies have said they will begin selling vehicles in the U.S. under their own brands, but none have succeeded.The quality of Chinese automakers' vehicles has gotten significantly better in recent years, as Beijing has helped by subsidizing their operations to grow domestic production. The increase in domestic automakers has led to a rapid deterioration of market share in the country for global automakers such as General Motors.Global players have made more inroads in the U.S. market in recent years. The so-called Big Three U.S. automakers — GM, Ford Motor and Chrysler, now owned by Stellantis — have watched their market share in the country deteriorate from 75% in 1984 to about 40% in 2023, according to industry data.GM and others have found it hard to compete against budget and mainstream Chinese vehicles, including EVs. For example, a small EV from Warren Buffett-backed BYD called the Seagull starts at around $10,000 and reportedly banks a profit for the increasingly influential Chinese automaker.Though the Seagull isn't yet sold on U.S. soil, BYD is expanding its vehicles globally, and some believe it's only a matter of time before more China-made vehicles arrive in the U.S.Even with the new 100% tariff, its pricing would likely be in line with or better than many EVs currently on sale in the U.S.""Ultimately, we think protectionism from the West could remain a near-term overhang for Chinese EV/parts makers aiming for rapid global expansion, but we think it is unlikely to halt China's EV push in the long run,"" Morgan Stanley analyst Tim Hsiao said in an investor note this week.Though some automakers currently import gas-powered vehicles from China into the U.S., the numbers are small. Wall Street analysts, citing the China Association of Automobile Manufacturers, report fewer than 75,000 vehicles were imported into the U.S. last year.Vehicles made in China and currently sold in the U.S. include GM's gas-powered Buick Envision, Ford's Lincoln Nautilus and two all-electric vehicles from Geely-owned Volvo and its spinoff EV startup Polestar.Polestar, with a small lineup of vehicles, is notably reliant on its Chinese imports. The company, in a statement, said it is ""currently evaluating the announcement of tariff increases from the Biden Administration,"" saying it believes ""free trade is essential to speed up the transition to more sustainable mobility through increased EV adoption.""Biden's focus on China-made EVs — and the exclusion of gas-powered vehicles in the higher levies — fits with the White House's clean energy agenda, which has emphasized electric vehicle production and adoption as well as enhanced U.S. charging infrastructure.""EVs are where we're focused in terms of placing tariffs, because that's where we've made hundreds of billions of dollars of public investments. We've made those investments to build resilience in our clean technology supply chains. And so that's our focus here,"" a senior administration official told reporters this week.It's possible U.S. officials are taking a warning sign from Europe, where Chinese automakers have quickly flooded markets with gas-saving EVs and undercut domestic automakers.Chinese companies accounted for 8% of Europe's all-electric vehicle sales as of September and could increase their share to 15% by 2025, the European Union said in October 2023. The EU believes Chinese EVs are undercutting the prices of local models by about 20%.The Biden administration's new EV tariffs could have a ripple effect on other countries, including in Europe, if they're successful in stemming Chinese exports, according to Coco Zhang, vice president of ESG research at ING Group.She said similar tariffs elsewhere could force Chinese companies to move more quickly to establish local production operations or joint ventures with other companies in an attempt to lower export costs.""From China's perspective, if there can be supply or other sorts of partnerships, they can still find their way going into the U.S. market,"" Zhang said.Such moves would be reminiscent of how Japanese automakers such as Toyota Motor and Nissan Motor as well as South Korea's Hyundai Motor, including Kia Motors, entered the U.S. market in recent decades.– CNBC's Rebecca Picciotto and Michael Bloom contributed to this report.",CNBC,15/05/2024,"[""DETROIT — President Joe Biden's plan to quadruple tariffs on China-made electric vehicles is unlikely to stave off the threat of more Chinese cars on the auto sales market in the U.S.The 100% tariff announced Tuesday, up from a current import tax of about 25%, covers EVs imported from China but could still leave room for the often-cheap Chinese models to undercut domestic prices and leaves loopholes for imports made by Chinese automakers in other countries, like neighboring Mexico."", ""It also does nothing to address current or future gas-powered vehicles imported from the Communist country to the U.S.Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay but won't stop Chinese automakers from coming to the U.S. with EVs."", '""They\'re going to be here.', ""It's inevitable."", 'It\'s just a matter of time,"" said Dan Hearsch, Americas co-leader of automotive and industrial practice at consulting firm AlixPartners. ""', 'Western automakers, Western suppliers really ought to be upping their game and preparing to take this on or play with them.', ""It's one or the other."", '""The EV tariffs, including other increases regarding battery materials, were among new tariff rates on $18 billion worth of Chinese imports.', 'For decades, Chinese auto companies have said they will begin selling vehicles in the U.S. under their own brands, but none have succeeded.', ""The quality of Chinese automakers' vehicles has gotten significantly better in recent years, as Beijing has helped by subsidizing their operations to grow domestic production."", 'The increase in domestic automakers has led to a rapid deterioration of market share in the country for global automakers such as General Motors.', 'Global players have made more inroads in the U.S. market in recent years.', 'The so-called Big Three U.S. automakers — GM, FordMotor and Chrysler, now owned byStellantis— have watched their market share in the country deteriorate from 75% in 1984 to about 40% in 2023, according to industry data.', 'GM and others have found it hard to compete against budget and mainstream Chinese vehicles, including EVs.', 'For example, a small EV from Warren Buffett-backed BYD called the Seagull starts at around $10,000 and reportedly banks a profit for the increasingly influential Chinese automaker.', 'Though the Seagull isn\'t yet sold on U.S. soil, BYD is expanding its vehicles globally, and some believe it\'s only a matter of time before more China-made vehicles arrive in the U.S.Even with the new 100% tariff, its pricing would likely be in line with or better than many EVs currently on sale in the U.S.""Ultimately, we think protectionism from the West could remain a near-term overhang for Chinese EV/parts makers aiming for rapid global expansion, but we think it is unlikely to halt China\'s EV push in the long run,"" Morgan Stanley analyst Tim Hsiao said in an investor note this week.', 'Though some automakers currently import gas-powered vehicles from China into the U.S., the numbers are small.', 'Wall Street analysts, citing the China Association of Automobile Manufacturers, report fewer than 75,000 vehicles were imported into the U.S. last year.', ""Vehicles made in China and currently sold in the U.S. include GM's gas-powered Buick Envision, Ford's Lincoln Nautilus and two all-electric vehicles from Geely-owned Volvo and its spinoff EV startup Polestar."", 'Polestar, with a small lineup of vehicles, is notably reliant on its Chinese imports.', 'The company, in a statement, said it is ""currently evaluating the announcement of tariff increases from the Biden Administration,"" saying it believes ""free trade is essential to speed up the transition to more sustainable mobility through increased EV adoption.', '""Biden\'s focus on China-made EVs — and the exclusion of gas-powered vehicles in the higher levies — fits with the White House\'s clean energy agenda, which has emphasized electric vehicle production and adoption as well as enhanced U.S. charging infrastructure.', '""EVs are where we\'re focused in terms of placing tariffs, because that\'s where we\'ve made hundreds of billions of dollars of public investments.', ""We've made those investments to build resilience in our clean technology supply chains."", 'And so that\'s our focus here,"" a senior administration official told reporters this week.', ""It's possible U.S. officials are taking a warning sign from Europe, where Chinese automakers have quickly flooded markets with gas-saving EVs and undercut domestic automakers."", ""Chinese companies accounted for 8% of Europe's all-electric vehicle sales as of September and could increase their share to 15% by 2025, the European Union said in October 2023."", ""The EU believes Chinese EVs are undercutting the prices of local models by about 20%.The Biden administration's new EV tariffs could have a ripple effect on other countries, including in Europe, if they're successful in stemming Chinese exports, according to Coco Zhang, vice president of ESG research at ING Group."", 'She said similar tariffs elsewhere could force Chinese companies to move more quickly to establish local production operations or joint ventures with other companies in an attempt to lower export costs.', '""From China\'s perspective, if there can be supply or other sorts of partnerships, they can still find their way going into the U.S. market,"" Zhang said.', ""Such moves would be reminiscent of how Japanese automakers such as Toyota Motor and Nissan Motor as well as South Korea's Hyundai Motor, including Kia Motors, entered the U.S. market in recent decades.–"", ""CNBC's Rebecca Picciotto and Michael Bloom contributed to this report.""]",0.1305594935970119,"For example, a small EV from Warren Buffett-backed BYD called the Seagull starts at around $10,000 and reportedly banks a profit for the increasingly influential Chinese automaker.","Such moves would be reminiscent of how Japanese automakers such as Toyota Motor and Nissan Motor as well as South Korea's Hyundai Motor, including Kia Motors, entered the U.S. market in recent decades.–",0.0812817851702372,"The quality of Chinese automakers' vehicles has gotten significantly better in recent years, as Beijing has helped by subsidizing their operations to grow domestic production.",The increase in domestic automakers has led to a rapid deterioration of market share in the country for global automakers such as General Motors.,2024-05-21
+Short seller alleges Oddity Tech is misleading investors,https://www.cnbc.com/2024/05/21/oddity-tech-short-seller-allegations.html,2024-05-21T19:59:55+0000,"In this articleA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be. The firm, Ningi Research, published a 50-page report that details a slew of allegations against the newly public retailer, including that it runs a fleet of stores in Israel and engages in deceptive billing practices. Ningi has a short position in Oddity but didn't disclose the size of that position.  ""ODDITY fundamentally rejects the short seller report. The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation,"" a company spokesperson wrote in an email to CNBC.Shares of Oddity fell roughly 9% Tuesday.Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online. It bills itself as a purely digital retailer that sells directly to consumers and has said it's seen outsized profits and growth that similar businesses have found difficult to achieve. Ningi Research alleged that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based. Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations. The firm said the stores are not part of a franchise but are instead owned by the company. Oddity said in a statement the Israeli brick-and-mortar business, totaling 43 retail stores and six beauty schools, represents an ""immaterial"" part of the business — amounting to less than 5% of the company's net revenue, according to the spokesperson.""All of ODDITY's revenue outside of Israel is exclusively from online sales,"" the spokesperson said.The short seller also alleged that the ""secret"" to Oddity's digital growth is in subscriptions, which Ningi claimed can be difficult for consumers to get out of or cancel. ""The sell-side touts ODDITY's 'impressively high' repeat purchase rates of 100 percent, but we don't buy that. Our research indicates that customers unknowingly enter into non-cancelable plans, allowing ODDITY to recognize repeat purchases in the following quarters even though the customers don't want the product,"" the report said. The report also detailed a host of complaints from the Better Business Bureau and social media from customers who say they've been wrongfully charged.Oddity, though the spokesperson, said in a statement that the company ""firmly stands behind"" both its use of technology and its customer experience.""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in a statement.In October, an analyst asked the company about customer complaints and if the issue was happening ""at scale."" In response, CEO Oran Holtzman said it's ""important to understand the magnitude of the claim and we're talking about a fraction of a percent."" ""Any online company that operates even close to our sales will experience this, like there will always be a certain percentage who are unhappy,"" said Holtzman. He said that for a ""small portion"" of its customers, it can be easy to get confused about pre-authorizations made to their cards related to Oddity's ""Try before you buy"" option, which allows a customer to try out a makeup item. ""Now, I don't think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn't fully read up like how it works and were confused,"" said Holtzman. ""We'll continue to work hard to educate those users and we've invested a lot in technology around it."" Oddity previously told CNBC that more than half of its business is from repeat customers.",CNBC,21/05/2024,"[""In this articleA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be."", 'The firm, Ningi Research, published a 50-page report that details a slew of allegations against the newly public retailer, including that it runs a fleet of stores in Israel and engages in deceptive billing practices.', ""Ningi has a short position in Oddity but didn't disclose the size of that position."", '""ODDITY fundamentally rejects the short seller report.', 'The allegations contained in the report by NINGI Research are based on demonstratable factual inaccuracies, incorrect assumptions, and unfounded and malicious speculation,"" a company spokesperson wrote in an email to CNBC.Shares of Oddity fell roughly 9% Tuesday.', ""Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online."", ""It bills itself as a purely digital retailer that sells directly to consumers and has said it's seen outsized profits and growth that similar businesses have found difficult to achieve."", 'Ningi Research alleged that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based.', ""Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations."", 'The firm said the stores are not part of a franchise but are instead owned by the company.', 'Oddity said in a statement the Israeli brick-and-mortar business, totaling 43 retail stores and six beauty schools, represents an ""immaterial"" part of the business — amounting to less than 5% of the company\'s net revenue, according to the spokesperson.', '""All of ODDITY\'s revenue outside of Israel is exclusively from online sales,"" the spokesperson said.', 'The short seller also alleged that the ""secret"" to Oddity\'s digital growth is in subscriptions, which Ningi claimed can be difficult for consumers to get out of or cancel.', '""The sell-side touts ODDITY\'s \'impressively high\' repeat purchase rates of 100 percent, but we don\'t buy that.', 'Our research indicates that customers unknowingly enter into non-cancelable plans, allowing ODDITY to recognize repeat purchases in the following quarters even though the customers don\'t want the product,"" the report said.', ""The report also detailed a host of complaints from the Better Business Bureau and social media from customers who say they've been wrongfully charged."", 'Oddity, though the spokesperson, said in a statement that the company ""firmly stands behind"" both its use of technology and its customer experience.', '""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in a statement.', 'In October, an analyst asked the company about customer complaints and if the issue was happening ""at scale.""', 'In response, CEO Oran Holtzman said it\'s ""important to understand the magnitude of the claim and we\'re talking about a fraction of a percent.', '""""Any online company that operates even close to our sales will experience this, like there will always be a certain percentage who are unhappy,"" said Holtzman.', 'He said that for a ""small portion"" of its customers, it can be easy to get confused about pre-authorizations made to their cards related to Oddity\'s ""Try before you buy"" option, which allows a customer to try out a makeup item.', '""Now, I don\'t think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn\'t fully read up like how it works and were confused,"" said Holtzman. ""', ""We'll continue to work hard to educate those users and we've invested a lot in technology around it."", '""Oddity previously told CNBC that more than half of its business is from repeat customers.']",0.1573720586307279,Ningi further claims that the majority of Oddity's profits are coming from the region – not the U.S.Ningi Research also said that it has visited the Il Makiage stores in Israel and purchased two of the company's best-selling products from different locations.,"""ODDITY fundamentally rejects the short seller report.",-0.0571975708007812,"""ODDITY will always continue to address incidents of dissatisfaction and keep its customers satisfied and loyal,"" the spokesperson said in a statement.","""Now, I don't think that it makes sense to cancel this massive customer benefit because a super small fraction of users who didn't fully read up like how it works and were confused,"" said Holtzman. """,2024-05-21
+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.",2024-05-21
+Media giants lean on sports as Hollywood strikes still loom over content slates,https://www.cnbc.com/2024/05/18/media-upfronts-sports-hollywood-strikes.html,2024-05-21T19:11:01+0000,"Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power.This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows.The hangover from last year's work pause meant some media companies had fewer series and movies to highlight during their presentations. Cost cutting from companies including Disney and Warner Bros. Discovery didn't help matters.Live sports remained the darling of the Upfront meetings, as it still beckons the biggest audiences, and, therefore, the most advertising dollars.""I think [the companies] benefited in terms of earnings during the strike. And I think there was hesitance to ramp up because of all the issues of trying to understand how content expenditure was really driving return,"" said Tom Rogers, Oorbit Gaming and Entertainment executive chairman and former NBC Cable president.""There used to be this kind of automatic, where you put out a certain amount of programs for the new season and it was relatively formulaic without much sense of being able to understand how content drove profitability,"" he added.He noted two key issues for the traditional media companies: the decline of traditional TV and the increasing fees companies have to pay to air live sports.""If you're going to maintain a reduced level of content spending, by definition, that means your entertainment programming has to be reduced,"" Rogers said.Disney played up trailers for the upcoming Disney+ series ""Agatha All Along"" and ""Daredevil: Born Again,"" but for its cable network FX, only highlighted the next season of the popular series ""The Bear,"" which also streams on Hulu. The company also announced the ""Golden Bachelorette,"" the next installment in the popular reality series on broadcast network ABC.Warner Bros. Discovery put series like ""House of the Dragon"" and ""And Just Like That"" — both spinoffs of HBO series — front and center.""A strong content slate — be it sports or entertainment — is only one piece of the puzzle, however,"" said Amy Leifer, chief advertising sales officer at DIRECTV Advertising. ""With the explosive growth of [ad-supported streaming], the modern TV experience is as dependent on content as it is on the ads that support it.""Some films played a big role in the Upfronts, especially after streaming services like NBCUniversal's Peacock got a boost from blockbusters like ""Oppenheimer"" recently.Comcast's NBCUniversal focused on the upcoming musical film ""Wicked,"" and the renewal of some Peacock original series.The summer movie box-office season, which runs from the first weekend in May though Labor Day, is expected to shrink around $800 million this year as the season brings a limited and unsteady stream of blockbuster films. It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.The movie calendar is expected to ramp up in the fourth quarter, with major titles like Warner Bros.' ""Joker: Folie a Deux,"" Paramount's ""Gladiator II,"" Disney Animation's ""Moana 2"" and Universal's ""Wicked"" arriving in cinemas. Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.Meanwhile, tech giants like Netflix and Amazon Prime Video that recently added cheaper, ad-supported tiers to their streaming platforms entered Upfronts week in full force, showcasing not only sports but also upcoming films and series.Amazon, which now owns MGM Studios, noted the renewals and upcoming seasons of original series such as ""Mr. and Mrs. Smith,"" ""The Boys,"" and ""The Summer I Turned Pretty."" Actor Jake Gyllenhaal announced a sequel to ""Roadhouse,"" and Will Ferrell and Reese Witherspoon discussed their film, ""You're Cordially Invited.""Netflix, meanwhile, announced the sequel to Adam Sandler's ""Happy Gilmore,"" as well as a slate of other series.The NFL once again reigned supreme at most Upfront presentations this year.Tentpole sports programming from the Summer Olympics to the NBA — which beckon the biggest TV and streaming audiences, and vast amounts of advertising dollars — were also key parts of the presentations.""We often hear from top clients that the significance of upfront buying has diminished outside of securing placements in live sports,"" said Mike Dupree, chief revenue officer at Teads, a global premium publishing platform. ""Access to quality content in an on-demand world has reduced the scarcity that historically drove the upfront model. Live sports seems to be the last bastion, as proven through rights renegotiations.""NBCUniversal dedicated much of its presentation on the upcoming Summer Olympics in Paris. The NFL played a role in all presentations, including for the newcomer to the ad-supported streaming landscape, Netflix. It made perhaps the biggest sports splash during Upfronts week, when it was announced hours before its presentation that it reached a deal to air NFL games on Christmas Day over the next three years.Amazon showcased Thursday Night Football, its second Black Friday game, and an upcoming wild card playoff game in January — the first ever for Prime.""This year, we saw media giants banking on big bets like ""Wicked,"" the Olympics, and sports superstars like Jason Kelce to generate buzz,"" said Tim Hurd, vice president of media activation at digital marketing agency Goodway Group. ""There was a lot of excitement around the evolving live sports landscape and leveraging college sports, NFL games, and the Olympics as an omni-platform experience.""Kelce, who recently retired from the NFL after 13 years with the Philadelphia Eagles, appeared at Disney's upfront to announce he would be a commentator for ESPN beginning this season. His appearance made headlines — as he and brother Travis Kelce are prone to doing — when he picked up ""Abbott Elementary"" star and creator Quinta Brunson during the event.— Sarah Whitten contributed to this article.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,21/05/2024,"['Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power.', 'This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows.', ""The hangover from last year's work pause meant some media companies had fewer series and movies to highlight during their presentations."", ""Cost cutting from companies including Disney and Warner Bros. Discovery didn't help matters."", 'Live sports remained the darling of the Upfront meetings, as it still beckons the biggest audiences, and, therefore, the most advertising dollars.', '""I think [the companies] benefited in terms of earnings during the strike.', 'And I think there was hesitance to ramp up because of all the issues of trying to understand how content expenditure was really driving return,"" said Tom Rogers,Oorbit Gaming and Entertainment executive chairman and former NBC Cable president.', '""There used to be this kind of automatic, where you put out a certain amount of programs for the new season and it was relatively formulaic without much sense of being able to understand how content drove profitability,"" he added.', 'He noted two key issues for the traditional media companies: the decline of traditional TV and the increasing fees companies have to pay to air live sports.', '""If you\'re going to maintain a reduced level of content spending, by definition, that means your entertainment programming has to be reduced,"" Rogers said.', 'Disney played up trailers for the upcoming Disney+ series ""Agatha All Along"" and ""Daredevil: Born Again,"" but for its cable network FX, only highlighted the next season of the popular series ""The Bear,"" which also streams on Hulu.', 'The company also announced the ""Golden Bachelorette,"" the next installment in the popular reality series on broadcast network ABC.Warner Bros. Discovery put series like ""House of the Dragon"" and ""And Just Like That"" — both spinoffs of HBO series — front and center.', '""A strong content slate — be it sports or entertainment — is only one piece of the puzzle, however,"" said Amy Leifer, chief advertising sales officer at DIRECTV Advertising. ""', 'With the explosive growth of [ad-supported streaming], the modern TV experience is as dependent on content as it is on the ads that support it.', '""Some films played a big role in the Upfronts, especially after streaming services like NBCUniversal\'s Peacock got a boost from blockbusters like ""Oppenheimer"" recently.', 'Comcast\'s NBCUniversal focused on the upcoming musical film ""Wicked,"" and the renewal of some Peacock original series.', 'The summer movie box-office season, which runs from the first weekend in May though Labor Day, is expected to shrink around $800 million this year as the season brings a limited and unsteady stream of blockbuster films.', 'It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.', 'The movie calendar is expected to ramp up in the fourth quarter, with major titles like Warner Bros.\' ""Joker: Folie a Deux,"" Paramount\'s ""Gladiator II,"" Disney Animation\'s ""Moana 2"" and Universal\'s ""Wicked"" arriving in cinemas.', 'Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.', 'Meanwhile, tech giants like Netflix and Amazon Prime Video that recently added cheaper, ad-supported tiers to their streaming platforms entered Upfronts week in full force, showcasing not only sports but also upcoming films and series.', 'Amazon, which now owns MGM Studios, noted the renewals and upcoming seasons of original series such as ""Mr. and Mrs. Smith,"" ""The Boys,"" and ""The Summer I Turned Pretty.""', 'Actor Jake Gyllenhaal announced a sequel to ""Roadhouse,"" and Will Ferrell and Reese Witherspoon discussed their film, ""You\'re Cordially Invited.', '""Netflix, meanwhile, announced the sequel to Adam Sandler\'s ""Happy Gilmore,"" as well as a slate of other series.', 'The NFL once again reigned supreme at most Upfront presentations this year.', 'Tentpole sports programming from the Summer Olympics to the NBA — which beckon the biggest TV and streaming audiences, and vast amounts of advertising dollars — were also key parts of the presentations.', '""We often hear from top clients that the significance of upfront buying has diminished outside of securing placements in live sports,"" said Mike Dupree, chief revenue officer at Teads, a global premium publishing platform. ""', 'Access to quality content in an on-demand world has reduced the scarcity that historically drove the upfront model.', 'Live sports seems to be the last bastion, as proven through rights renegotiations.', '""NBCUniversal dedicated much of its presentation on the upcoming Summer Olympics in Paris.', 'The NFL played a role in all presentations, including for the newcomer to the ad-supported streaming landscape, Netflix.', 'It made perhaps the biggest sports splash during Upfronts week, when it was announced hours before its presentation that it reached a deal to air NFL games on Christmas Day over the next three years.', 'Amazon showcased Thursday Night Football, its second Black Friday game, and an upcoming wild card playoff game in January — the first ever for Prime.', '""This year, we saw media giants banking on big bets like ""Wicked,"" the Olympics, and sports superstars like Jason Kelce to generate buzz,"" said Tim Hurd, vice president of media activation at digital marketing agency Goodway Group. ""', 'There was a lot of excitement around the evolving live sports landscape and leveraging college sports, NFL games, and the Olympics as an omni-platform experience.', '""Kelce, who recently retired from the NFL after 13 years with the Philadelphia Eagles, appeared at Disney\'s upfront to announce he would be a commentator for ESPN beginning this season.', 'His appearance made headlines — as he and brother Travis Kelce are prone to doing — when he picked up ""Abbott Elementary"" star and creator Quinta Brunson during the event.—', 'Sarah Whitten contributed to this article.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.316452400480072,"Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.",It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.,0.1278516389429569,"Calendar 2025 and 2026 are slated to have a significant boost in titles, including features from major franchises like Marvel, Star Wars, Batman, Super Mario Bros. and rollover tickets from a third Avatar film.",It follows a second quarter that lagged nearly 50% behind ticket sales seen during the same period last year.,2024-05-21
+FDA approves Amgen's treatment for most deadly form of lung cancer,https://www.cnbc.com/2024/05/16/fda-approves-amgen-small-cell-lung-cancer-treatment.html,2024-05-16T21:47:17+0000,"In this articleThe Food and Drug Administration on Thursday approved Amgen's therapy for patients with the most deadly form of lung cancer. The agency cleared the drug, which will be marketed under the name Imdelltra, as a second or later line of treatment for people with advanced small-cell lung cancer. That means patients can take the drug if their cancer progresses while on or after trying one other form of treatment, which is typically a type of chemotherapy. Amgen's drug is also known by its generic name tarlatamab.In clinical trials, Amgen's drug has been shown to reduce tumor growth and help people with small-cell lung cancer live significantly longer.Of the more than 2.2 million patients who are diagnosed with lung cancer worldwide each year, small-cell lung cancer comprises 15%, or 330,000, of those cases, Amgen said. Around 80% to 85% of people with small-cell lung cancer are diagnosed with an advanced stage of the disease, according to a study published in the Journal of Cancer.There are around 35,000 patients with small-cell lung cancer in the U.S., Dr. Jay Bradner, Amgen's chief scientific officer, told CNBC. Small-cell lung cancer usually starts in the airways of the lung and grows rapidly, creating large tumors and spreading throughout the body. Symptoms include bloody phlegm, cough, chest pain and shortness of breath.Only 3% of patients with small-cell lung cancer that has spread to other parts of the body live past 5 years, according to the American Cancer Society. That five-year survival rate accounts for 7% among all patients with the condition, regardless of whether the cancer spreads. Bradner said patients with small-cell lung cancer typically have four to five months to live.Lynne Bell, a small-cell lung cancer patient from Atlanta, Georgia, is an exception. She says she was ""horrified"" and ""in a dark place"" after she was diagnosed with an advanced stage of the condition in 2021.But she started taking Amgen's Imdelltra in an ongoing clinical trial in September after other treatments, including chemotherapy, stopped working. Since then, Bell said her tumors have shrunk significantly and cancer scans ""look great."" She said she specifically noticed her pain go away after taking a second dose of Amgen's drug.When asked how long she would continue Imdelltra, Bell said, ""If this medication is working and I'm not having any side effects, I'm good to go. I'm in it to win it.""Maida Mangiameli, a small-cell lung cancer advocate and patient mentor from Naperville, Illinois, is also a survivor of the devastating disease. She was diagnosed with an advanced stage of the condition in 2018 but was deemed in remission this year, meaning the treatment she received has reduced the signs and symptoms of the cancer. Mangiameli has been in remission for five years. Her treatments included chemotherapy and 28 days of radiation therapy. She told CNBC that Amgen's Imdelltra may ""not be something for me, but it might be down the road."" Mangiameli added that she's excited to know that there will be another therapy option for other patients suffering from small-cell lung cancer. She said the development of new treatments for the disease has been ""on the back burner"" for several years. Amgen's Bradner also said treatment options ""are pretty meager."" ""It's just one of the most dreadful cancers and so we needed a new solution,"" he said. Amgen's drug is called a bispecific T-cell engager, which is designed to redirect the immune system's T-cells to recognize and kill cancer cells. The approval is based on results from a phase two trial that followed more than 200 patients with small-cell lung cancer. Cancer tumors shrank in 40% of people who were given a 10-milligram dose of Imdelltra every 2 weeks.Notably, the median time that people lived after starting 10-milligram doses of Amgen's drug was 14.3 months. That compares with around six to 12 months with current treatments, according to the National Cancer Institute. ""These patients who would normally only have four to five months enjoy almost another full year of life,"" Bradner told CNBC. That time can make a huge difference for patients. For Mangiameli, receiving treatment for small-cell lung cancer gave her years to get closer to her grandchild, who was born not long before she was diagnosed with the disease. ""I had the impetus, the drive to make sure I survived. … I just had my first grandchild, I have to live long enough for us to become pals,"" Mangiameli said. Meanwhile, Bell said taking Imdelltra gave her the time to travel; she went on a trip with her daughter to San Diego.""I'm trying to go as many places that I can get to,"" Bell told CNBC.Amgen is continuing to study Imdelltra in several trials, including some that will test the drug as an earlier line of treatment for small-cell lung cancer. That includes a late-stage trial comparing Imdelltra with chemotherapy as a second-line treatment for the disease. Amgen also plans to start another phase three study on the drug as a first-line treatment for patients at an advanced stage of small-cell lung cancer. ""What makes us hopeful is, as you develop cancer medicines, that if they work in later stages of the disease, they can work even better when you move them"" to first-line treatment, Bradner said.",CNBC,16/05/2024,"[""In this articleThe Food and Drug Administration on Thursday approved Amgen's therapy for patients with the most deadly form of lung cancer."", 'The agency cleared the drug, which will be marketed under the name Imdelltra, as a second or later line of treatment for people with advanced small-cell lung cancer.', 'That means patients can take the drug if their cancer progresses while on or after trying one other form of treatment, which is typically a type of chemotherapy.', ""Amgen's drug is also known by its generic name tarlatamab."", ""In clinical trials, Amgen's drug has been shown to reduce tumor growth and help people with small-cell lung cancer live significantly longer."", 'Of the more than 2.2 million patients who are diagnosed with lung cancer worldwide each year, small-cell lung cancer comprises 15%, or 330,000, of those cases, Amgen said.', 'Around 80% to 85% of people with small-cell lung cancer are diagnosed with an advanced stage of the disease, according to a study published in the Journal of Cancer.', ""There are around 35,000 patients with small-cell lung cancer in the U.S., Dr. Jay Bradner, Amgen's chief scientific officer, told CNBC.Small-cell lung cancer usually starts in the airways of the lung and grows rapidly, creating large tumors and spreading throughout the body."", 'Symptoms include bloody phlegm, cough, chest pain and shortness of breath.', 'Only 3% of patients with small-cell lung cancer that has spread to other parts of the body live past 5 years, according to the American Cancer Society.', 'That five-year survival rate accounts for 7% among all patients with the condition, regardless of whether the cancer spreads.', 'Bradner said patients with small-cell lung cancer typically have four to five months to live.', 'Lynne Bell, a small-cell lung cancer patient from Atlanta, Georgia, is an exception.', 'She says she was ""horrified"" and ""in a dark place"" after she was diagnosed with an advanced stage of the condition in 2021.But she started taking Amgen\'s Imdelltra in an ongoing clinical trial in September after other treatments, including chemotherapy, stopped working.', 'Since then, Bell said her tumors have shrunk significantly and cancer scans ""look great.""', ""She said she specifically noticed her pain go away after taking a second dose of Amgen's drug."", 'When asked how long she would continue Imdelltra, Bell said, ""If this medication is working and I\'m not having any side effects, I\'m good to go.', ""I'm in it to win it."", '""Maida Mangiameli, a small-cell lung cancer advocate and patient mentor from Naperville, Illinois, is also a survivor of the devastating disease.', 'She was diagnosed with an advanced stage of the condition in 2018 but was deemed in remission this year, meaning the treatment she received has reduced the signs and symptoms of the cancer.', 'Mangiameli has been in remission for five years.', 'Her treatments included chemotherapy and 28 days of radiation therapy.', 'She told CNBC that Amgen\'s Imdelltra may ""not be something for me, but it might be down the road.', '""Mangiameli added that she\'s excited to know that there will be another therapy option for other patients suffering from small-cell lung cancer.', 'She said the development of new treatments for the disease has been ""on the back burner"" for several years.', 'Amgen\'s Bradner also said treatment options ""are pretty meager.', '""""It\'s just one of the most dreadful cancers and so we needed a new solution,"" he said.', ""Amgen's drug is called a bispecific T-cell engager, which is designed to redirect the immune system's T-cells to recognize and kill cancer cells."", 'The approval is based on results from a phase two trial that followed more than 200 patients with small-cell lung cancer.', 'Cancer tumors shrank in 40% of people who were given a 10-milligram dose of Imdelltra every 2 weeks.', ""Notably, the median time that people lived after starting 10-milligram doses of Amgen's drug was 14.3 months."", 'That compares with around six to 12 months with current treatments, according to the National Cancer Institute.', '""These patients who would normally only have four to five months enjoy almost another full year of life,"" Bradner told CNBC.That time can make a huge difference for patients.', 'For Mangiameli, receiving treatment for small-cell lung cancer gave her years to get closer to her grandchild, who was born not long before she was diagnosed with the disease.', '""I had the impetus, the drive to make sure I survived. …', 'I just had my first grandchild, I have to live long enough for us to become pals,"" Mangiameli said.', 'Meanwhile, Bell said taking Imdelltra gave her the time to travel; she went on a trip with her daughter to San Diego.', '""I\'m trying to go as many places that I can get to,"" Bell told CNBC.Amgen is continuing to study Imdelltra in several trials, including some that will test the drug as an earlier line of treatment for small-cell lung cancer.', 'That includes a late-stage trial comparing Imdelltra with chemotherapy as a second-line treatment for the disease.', 'Amgen also plans to start another phase three study on the drug as a first-line treatment for patients at an advanced stage of small-cell lung cancer.', '""What makes us hopeful is, as you develop cancer medicines, that if they work in later stages of the disease, they can work even better when you move them"" to first-line treatment, Bradner said.']",-0.3129286844652374,"""I had the impetus, the drive to make sure I survived. …","Of the more than 2.2 million patients who are diagnosed with lung cancer worldwide each year, small-cell lung cancer comprises 15%, or 330,000, of those cases, Amgen said.",0.3947548912121699,"""What makes us hopeful is, as you develop cancer medicines, that if they work in later stages of the disease, they can work even better when you move them"" to first-line treatment, Bradner said.","Amgen's Bradner also said treatment options ""are pretty meager.",2024-05-21
+Virgin Trains makes bid to return to West Coast Main Line,https://www.bbc.co.uk/news/articles/c3ggn8k166xo,2024-05-19T13:35:50.495Z,"Virgin Trains could return to running rail services on the West Coast route between London and Glasgow five years after losing the franchise. It means that Virgin would be competing with Avanti West Coast, the train company it lost the contract to in 2019. Virgin Trains had operated the service, which runs from London Euston via Birmingham and Manchester to Scotland, for 22 years before it was disqualified from bidding for the franchise.  Virgin Group confirmed to the BBC that it had applied to the Office of Rail and Road, the regulator, for an Open Access licence. Under this type of licence, a firm does not receive any state subsidies and takes on the risk of running a rail service itself. In contrast, a franchised operator, such as Avanti, holds a contract with the government to run the route.   A spokesperson for Virgin Group said: ""While this application is just the first step towards exploring what might be possible, we think Open Access is the way forward. ""Open Access increases consumer choice and competition both of which Virgin has always supported."" Since taking over the franchise, Avanti has faced fierce criticism over delays and cancellations. Last September, the Department for Transport (DfT) renewed Avanti West Coast's contract for up to nine years. The company is a joint venture between FirstGroup and Trenitalia, an Italian train operator. But in March this year, Greater Manchester Mayor Andy Burnham called for Avanti to be stripped of the contract.  “I’ve completely run out of patience. I cannot accept this railway line being left in this perennial state of chaos,” he said. The DfT ruled out such a move, stating that it ""would just cause more upheaval for passengers rather than solving the challenges the operator is facing"". Virgin Group said that it has applied to run services between London Euston to Preston and Rochdale via Manchester and Bolton in the north west as well as to Birmingham, Liverpool and Glasgow. The previous train company was a joint venture between Sir Richard Branson's Virgin Group and Stagecoach, the Scottish bus and rail company. But a spokesperson for Virgin said that it had had made the application independently. If it was successful, it would manage the trains itself. When Virgin Trains lost the contract, it had provided almost 500 million journeys. Sir Richard said at the time that he was ""devastated"". Its partner, Stagecoach had been disqualified from bidding for that franchise as well as two others because, according to the DfT, it did not meet rules about pensions and future funding. Just last year, Sir Richard had hinted that he wanted to get into the rail business. He told the Financial Times in December: “I would not be surprised if one day Virgin is not back in trains.” A spokesperson for the group said: “Virgin is exceptionally proud of everything Virgin Trains and its wonderful onboard teams achieved in the UK.  ""We’re confident customers would welcome Virgin Trains back, providing them with much-needed choice and competition.” ",BBC,19/05/2024,"['Virgin Trains could return to running rail services on the West Coast route between London and Glasgow five years after losing the franchise.', 'It means that Virgin would be competing with Avanti West Coast, the train company it lost the contract to in 2019.', 'Virgin Trains had operated the service, which runs from London Euston via Birmingham and Manchester to Scotland, for 22 years before it was disqualified from bidding for the franchise.', 'Virgin Group confirmed to the BBC that it had applied to the Office of Rail and Road, the regulator, for an Open Access licence.', 'Under this type of licence, a firm does not receive any state subsidies and takes on the risk of running a rail service itself.', 'In contrast, a franchised operator, such as Avanti, holds a contract with the government to run the route.', 'A spokesperson for Virgin Group said: ""While this application is just the first step towards exploring what might be possible, we think Open Access is the way forward. ""', 'Open Access increases consumer choice and competition both of which Virgin has always supported.""', 'Since taking over the franchise, Avanti has faced fierce criticism over delays and cancellations.', ""Last September, the Department for Transport (DfT) renewed Avanti West Coast's contract for up to nine years."", 'The company is a joint venture between FirstGroup and Trenitalia, an Italian train operator.', 'But in March this year, Greater Manchester Mayor Andy Burnham called for Avanti to be stripped of the contract. “', 'I’ve completely run out of patience.', 'I cannot accept this railway line being left in this perennial state of chaos,” he said.', 'The DfT ruled out such a move, stating that it ""would just cause more upheaval for passengers rather than solving the challenges the operator is facing"".', 'Virgin Group said that it has applied to run services between London Euston to Preston and Rochdale via Manchester and Bolton in the north west as well as to Birmingham, Liverpool and Glasgow.', ""The previous train company was a joint venture between Sir Richard Branson's Virgin Group and Stagecoach, the Scottish bus and rail company."", 'But a spokesperson for Virgin said that it had had made the application independently.', 'If it was successful, it would manage the trains itself.', 'When Virgin Trains lost the contract, it had provided almost 500 million journeys.', 'Sir Richard said at the time that he was ""devastated"".', 'Its partner, Stagecoach had been disqualified from bidding for that franchise as well as two others because, according to the DfT, it did not meet rules about pensions and future funding.', 'Just last year, Sir Richard had hinted that he wanted to get into the rail business.', 'He told the Financial Times in December: “I would not be surprised if one day Virgin is not back in trains.”', 'A spokesperson for the group said: “Virgin is exceptionally proud of everything Virgin Trains and its wonderful onboard teams achieved in the UK. ""', 'We’re confident customers would welcome Virgin Trains back, providing them with much-needed choice and competition.”']",-0.0080180115134046,"A spokesperson for the group said: “Virgin is exceptionally proud of everything Virgin Trains and its wonderful onboard teams achieved in the UK. ""","I cannot accept this railway line being left in this perennial state of chaos,” he said.",-0.0019230991601943,"We’re confident customers would welcome Virgin Trains back, providing them with much-needed choice and competition.”","The DfT ruled out such a move, stating that it ""would just cause more upheaval for passengers rather than solving the challenges the operator is facing"".",2024-05-21
+High inflation made finances worse for 65% of Americans last year,https://edition.cnn.com/2024/05/21/economy/economic-wellbeing-2023-inflation/index.html,"
+  Updated
+        12:13 PM EDT, Tue May 21, 2024
+    ","Inflation may have slowed last year, but it continued to deal heavy blows — some devastating — on Americans’ livelihoods: Nearly two-thirds of US adults were worse off because of it, and roughly 1 in 6 couldn’t pay all their monthly bills, new Federal Reserve data shows.
+    
+            The Fed on Tuesday released its Economic Well-Being of US Households report for 2023, examining the financial lives of US adults and their families. The report found that 72% of adults surveyed said they were “doing okay” financially. That’s a tick lower than last year but well below the high of 78% hit in 2021 (and still above the record low of 62% in 2013).
+    
+            Inflation made the financial lives “worse” for 65% of US households, according to the report. Among those, 19% said it was “much worse.”
+    
+            The findings were drawn from the Fed’s 11th annual Survey of Household Economics and Decisionmaking, which looks at American’s economic health across a variety of areas, including employment, income, banking and credit, housing, retirement planning, student loans, childcare and even Buy Now, Pay Later usage.
+    
+            But even in a time when broad economic data highlights a remarkably resilient economy — job growth has been stellar and pay gains have been strong, which have helped fuel spending and keep the economy rolling — not everyone feels that upbeat. Three-plus years of high inflation have taken their toll on Americans’ wallets and their psyches.
+    
+            That was especially true in 2022, when US inflation hit 9.1%, its highest annual rate in more than 40 years. As of last month, annual inflation was 3.4%, according to the Consumer Price Index.
+    
+            Incomes grew healthily in 2023, but so did spending, the Fed report showed. Monthly budgets remained tight and more than half of adults didn’t have money left over after paying their expenses.
+    
+            This was especially true for lower-income adults, who reported higher instances of not having enough to eat, not being able to cover bills in full and skipping medical care.
+    
+            Overall, 17% of adults reported they could not pay all their bills in full in the month prior to the survey, which was conducted in October 2023.
+    
+            “The [Survey of Household Economics and Decisionmaking] provides valuable insight into the financial conditions of American households,” Fed Governor Michelle Bowman said in a release accompanying the report. “This perspective continues to help the Federal Reserve better understand how families are coping with the ongoing economic challenges they face.”
+    
+            The report showed improvement in people’s feelings about how their local economy fared — with 42% saying it was “good” or “excellent,” versus 38% the year before. However, that share is a far cry from how people felt pre-pandemic: In 2019, 63% felt their local economy was in good or excellent health.
+    
+            Zooming out to the national economy, it was a similar story: People’s perceptions improved from 2022 (22% last year, up from 18%), but they remain well below the 50% share notched in 2019.
+    
+            Tuesday’s report showed similar measures of financial resiliency to what was reported in 2022, with 63% of adults saying they’d be able to cover a $400 emergency expense with cash on hand.
+    
+            While that share is below the recent high of 68% hit in 2021, it’s well above what was seen during the past decade. In 2013, only 50% said they could pay for a $400 emergency expense with cash, Fed data shows.
+    
+            While the financial well-being was generally unchanged from 2022 for most Americans, Fed researchers highlighted one particular segment that saw a signifcant downward swing: Parents living with children under the age of 18. The share of respondents from that group who said they were “doing okay” fell to 64% from 69% in 2022 and from 75% in 2021.
+    
+            For those with younger children, child care expenses were considerable in 2023. Paid child care expenses amounted to 50% to 70% of what parents shelled out for their monthly housing payment, according to the report.
+    
+            Child care expenses, along with homeowners’ insurance, food sufficiency and caregiving responsibilities, were among the new topics discussed in the report.
+    
+            In terms of homeowners’ insurance, the report found that adults who have a higher risk of being financially affected by a natural disaster were less likely to be insured. Nearly 25% of homeowners who live in the South and make under $50,000 a year did not have homeowners’ insurance, the Fed found.",CNN,21/05/2024,"['Inflation may have slowed last year, but it continued to deal heavy blows — some devastating — on Americans’ livelihoods: Nearly two-thirds of US adults were worse off because of it, and roughly 1 in 6 couldn’t pay all their monthly bills, new Federal Reserve data shows.', 'The Fed on Tuesday released its Economic Well-Being of US Households report for 2023, examining the financial lives of US adults and their families.', 'The report found that 72% of adults surveyed said they were “doing okay” financially.', 'That’s a tick lower than last year but well below the high of 78% hit in 2021 (and still above the record low of 62% in 2013).', 'Inflation made the financial lives “worse” for 65% of US households, according to the report.', 'Among those, 19% said it was “much worse.”', 'The findings were drawn from the Fed’s 11th annual Survey of Household Economics and Decisionmaking, which looks at American’s economic health across a variety of areas, including employment, income, banking and credit, housing, retirement planning, student loans, childcare and even Buy Now, Pay Later usage.', 'But even in a time when broad economic data highlights a remarkably resilient economy — job growth has been stellar and pay gains have been strong, which have helped fuel spending and keep the economy rolling — not everyone feels that upbeat.', 'Three-plus years of high inflation have taken their toll on Americans’ wallets and their psyches.', 'That was especially true in 2022, when US inflation hit 9.1%, its highest annual rate in more than 40 years.', 'As of last month, annual inflation was 3.4%, according to the Consumer Price Index.', 'Incomes grew healthily in 2023, but so did spending, the Fed report showed.', 'Monthly budgets remained tight and more than half of adults didn’t have money left over after paying their expenses.', 'This was especially true for lower-income adults, who reported higher instances of not having enough to eat, not being able to cover bills in full and skipping medical care.', 'Overall, 17% of adults reported they could not pay all their bills in full in the month prior to the survey, which was conducted in October 2023.', '“The [Survey of Household Economics and Decisionmaking] provides valuable insight into the financial conditions of American households,” Fed Governor Michelle Bowman said in a release accompanying the report. “', 'This perspective continues to help the Federal Reserve better understand how families are coping with the ongoing economic challenges they face.”', 'The report showed improvement in people’s feelings about how their local economy fared — with 42% saying it was “good” or “excellent,” versus 38% the year before.', 'However, that share is a far cry from how people felt pre-pandemic: In 2019, 63% felt their local economy was in good or excellent health.', 'Zooming out to the national economy, it was a similar story: People’s perceptions improved from 2022 (22% last year, up from 18%), but they remain well below the 50% share notched in 2019.', 'Tuesday’s report showed similar measures of financial resiliency to what was reported in 2022, with 63% of adults saying they’d be able to cover a $400 emergency expense with cash on hand.', 'While that share is below the recent high of 68% hit in 2021, it’s well above what was seen during the past decade.', 'In 2013, only 50% said they could pay for a $400 emergency expense with cash, Fed data shows.', 'While the financial well-being was generally unchanged from 2022 for most Americans, Fed researchers highlighted one particular segment that saw a signifcant downward swing: Parents living with children under the age of 18.', 'The share of respondents from that group who said they were “doing okay” fell to 64% from 69% in 2022 and from 75% in 2021.', 'For those with younger children, child care expenses were considerable in 2023.', 'Paid child care expenses amounted to 50% to 70% of what parents shelled out for their monthly housing payment, according to the report.', 'Child care expenses, along with homeowners’ insurance, food sufficiency and caregiving responsibilities, were among the new topics discussed in the report.', 'In terms of homeowners’ insurance, the report found that adults who have a higher risk of being financially affected by a natural disaster were less likely to be insured.', 'Nearly 25% of homeowners who live in the South and make under $50,000 a year did not have homeowners’ insurance, the Fed found.']",0.2038651517942035,"But even in a time when broad economic data highlights a remarkably resilient economy — job growth has been stellar and pay gains have been strong, which have helped fuel spending and keep the economy rolling — not everyone feels that upbeat.","Inflation may have slowed last year, but it continued to deal heavy blows — some devastating — on Americans’ livelihoods: Nearly two-thirds of US adults were worse off because of it, and roughly 1 in 6 couldn’t pay all their monthly bills, new Federal Reserve data shows.",-0.0744551474397832,"Incomes grew healthily in 2023, but so did spending, the Fed report showed.",The share of respondents from that group who said they were “doing okay” fell to 64% from 69% in 2022 and from 75% in 2021.,2024-05-21
+"BMW, Jaguar and VW imported banned Xinjiang parts - Senate probe",https://www.bbc.co.uk/news/articles/cv2237rplg8o,2024-05-21T03:19:37.025Z,"BMW, Jaguar Land Rover (JLR) and Volkswagen (VW) used parts made by a supplier on a list of firms banned over alleged links to Chinese forced labour, a US congressional report has said. At least 8,000 BMW Mini Cooper cars were imported into the US with components from banned Chinese firm Sichuan Jingweida Technology Group (JWD), according to the report by Senate Finance Committee chairman Ron Wyden's staff. ""Automakers’ self-policing is clearly not doing the job,"" the Democrat Senator said. BMW said it had ""strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow"". It added it had taken steps to ""halt the importation of affected products and will be conducting a service action with customer and dealer notification for affected motor vehicles"". Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".  VW did not immediately respond to a request for comment. Mr Wyden also urged the US Customs and Border Protection agency to ""supercharge enforcement and crack down on companies that fuel the shameful use of forced labour in China"". The report added Jaguar Land Rover had imported spare parts which included components from JWD after the company was put on the banned list. JLR said it has now identified and is destroying any stock it holds around the world that include this component. In February, VW said thousands of its vehicles, including Porsches and Bentleys, had been held by authorities because they had a component in them that breached America's anti-forced labour laws. VW had voluntarily informed customs officials about the issue, the report said. Congress passed the Uyghur Forced Labor Prevention Act (UFLPA) into law in 2021. The legislation is intended to prevent the import of goods from China's north-western Xinjiang region that are believed to have been made by people from the Uyghur minority group in forced labour conditions.  JWD was added to the UFLPA Entity List in December 2023, which means its products are presumed to be made with forced labour. China has been accused of detaining more than one million Uyghurs in Xinjiang against their will over the past few years. Authorities have denied all allegations of human rights abuses in Xinjiang. “The so-called Uyghur Forced Labor Prevention Act by the US is not about forced labor but about creating unemployment. It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. ""China strongly condemns and firmly opposes this. We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.” ",BBC,21/05/2024,"['BMW, Jaguar Land Rover (JLR) and Volkswagen (VW) used parts made by a supplier on a list of firms banned over alleged links to Chinese forced labour, a US congressional report has said.', 'At least 8,000 BMW Mini Cooper cars were imported into the US with components from banned Chinese firm Sichuan Jingweida Technology Group (JWD), according to the report by Senate Finance Committee chairman Ron Wyden\'s staff. ""', 'Automakers’ self-policing is clearly not doing the job,"" the Democrat Senator said.', 'BMW said it had ""strict standards and policies regarding employment practices, human rights, and working conditions, which all our direct suppliers must follow"".', 'It added it had taken steps to ""halt the importation of affected products and will be conducting a service action with customer and dealer notification for affected motor vehicles"".', 'Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".', 'VW did not immediately respond to a request for comment.', 'Mr Wyden also urged the US Customs and Border Protection agency to ""supercharge enforcement and crack down on companies that fuel the shameful use of forced labour in China"".', 'The report added Jaguar Land Rover had imported spare parts which included components from JWD after the company was put on the banned list.', 'JLR said it has now identified and is destroying any stock it holds around the world that include this component.', ""In February, VW said thousands of its vehicles, including Porsches and Bentleys, had been held by authorities because they had a component in them that breached America's anti-forced labour laws."", 'VW had voluntarily informed customs officials about the issue, the report said.', 'Congress passed the Uyghur Forced Labor Prevention Act (UFLPA) into law in 2021.', ""The legislation is intended to prevent the import of goods from China's north-western Xinjiang region that are believed to have been made by people from the Uyghur minority group in forced labour conditions."", 'JWD was added to the UFLPA Entity List in December 2023, which means its products are presumed to be made with forced labour.', 'China has been accused of detaining more than one million Uyghurs in Xinjiang against their will over the past few years.', 'Authorities have denied all allegations of human rights abuses in Xinjiang. “', 'The so-called Uyghur Forced Labor Prevention Act by the US is not about forced labor but about creating unemployment.', 'It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. ""', 'China strongly condemns and firmly opposes this.', 'We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”']",-0.3569157781414933,We will take measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”,"Jaguar Land Rover told the BBC it ""takes human rights and forced labour issues seriously and has an active ongoing programme of human rights protection and anti-slavery measures"".",-0.938326338926951,,"It does not protect human rights but, under the guise of human rights, harms the survival and employment rights of the people in Xinjiang,"" Chinese Foreign Ministry spokesperson Wang Wenbin said. """,2024-05-21
+"Bilt’s May Rent Day promotion: Redeem points toward rent, get free home decor",https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion,"
+  Updated
+        4:22 PM EDT, Thu April 25, 2024
+    ","The Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception in 2021. With a top-notch travel rewards program and the opportunity to earn points on rent with 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.
+    
+            In addition, Bilt Rewards — the loyalty program behind the Bilt Mastercard — offers lucrative 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 — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month. Bilt typically announces these promotions just a few days before Rent Day.
+    
+            Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.
+    
+            Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.
+    
+            Additionally, Bilt recently announced a new partnership with Blade, a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.
+    
+            Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.
+    
+            Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection. You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.
+    
+            However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment. For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.
+    
+            Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison. However, it might be worth considering this month if you’re looking for new home decor anyway.
+    
+            The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.
+    
+            This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country. This includes unique tasting menus, wine pairings and omakase experiences.
+    
+            These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest. Availability will be limited, but you can try to grab a seat on April 26.
+    
+            Those with Bilt elite status will receive priority access to reservations. Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST. All other Bilt Rewards members can book at 12:30 p.m. EST.
+    
+            Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.
+    
+            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 May 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 with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).
+    
+            Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking. Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.
+    
+            Again, you’ll get more Blade benefits if you have Bilt elite status.
+    
+            These are nice benefits to have if you live in New York. Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.
+    
+            If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home. If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.
+    
+            Learn more and apply now for the Bilt Mastercard.
+    
+            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,25/04/2024,"['The Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception in 2021.', 'With a top-notch travel rewards program and the opportunity to earn points on rent with 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.', 'In addition, Bilt Rewards —the loyalty program behind the Bilt Mastercard — offers lucrative 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 — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month.', 'Bilt typically announces these promotions just a few days before Rent Day.', 'Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.', 'Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.', 'Additionally, Bilt recently announced a new partnership with Blade,a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.', 'Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.', 'Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection.', 'You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.', 'However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment.', 'For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.', 'Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.', 'However, it might be worth considering this month if you’re looking for new home decor anyway.', 'The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.', 'This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country.', 'This includes unique tasting menus, wine pairings and omakase experiences.', 'These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest.', 'Availability will be limited, but you can try to grab a seat on April 26.', 'Those with Bilt elite status will receive priority access to reservations.', 'Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST.', 'All other Bilt Rewards members can book at 12:30 p.m. EST.', 'Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.  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 May 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 with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).', 'Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking.', 'Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.', 'Again, you’ll get more Blade benefits if you have Bilt elite status.', 'These are nice benefits to have if you live in New York.', 'Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.', 'If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home.', 'If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.', 'Learn more and apply now for the Bilt Mastercard.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.3487739443917381,"Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.",,0.978265517950058,"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.",,2024-05-21
+Red Lobster files for bankruptcy,https://edition.cnn.com/2024/05/20/investing/red-lobster-restaurants-bankruptcy/index.html,"
+  Updated
+        2:59 PM EDT, Mon May 20, 2024
+    ","Red Lobster, which brought affordable shrimp and lobster to middle-class America and grew to become the largest seafood restaurant chain in the world, has filed for bankruptcy.
+    
+            The company said it had more than $1 billion in debt and less than $30 million in cash on hand. It plans to sell its business to its lenders, and in turn, it will receive financing to stay afloat. It expects to continue to close restaurants in the meantime.
+    
+            Red Lobster, known for its cheddar bay biscuits, crab legs and shrimp dishes, spread around the country during the 1980s and 1990s. In 2016, Beyoncé mentioned Red Lobster in her song “Formation,” describing bringing a romantic partner to Red Lobster, causing sales to surge.
+    
+            With 578 restaurants across 44 states and Canada, Red Lobster serves 64 million customers a year, and it brings in $2 billion in annual sales, the company said in its bankruptcy filing. One in five lobster tails purchased in North America is bought by Red Lobster.
+    
+            But recent mismanagement, competition, inflation and other factors brought down Red Lobster, analysts and former Red Lobster employees say.
+    
+            Years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to compete with growing fast-casual and quick-service chains.
+    
+            Red Lobster started in 1968 by Bill Darden, an architect of the casual dining revolution in America, and General Mills soon bought the restaurant. Red Lobster later became part of Darden Restaurants, the owner of Olive Garden and other chains.
+    
+            In 2014, Darden sold off Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion. Since 2020, seafood distributor Thai Union Group, based in Thailand, has been the largest Red Lobster shareholder. Thai Union owns 49% of the company.
+    
+            But Red Lobster has struggled under Thai Union.
+    
+            The number of customers coming to Red Lobster tumbled 30% since 2019 and has only slightly improved since the pandemic. Earlier this year, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment.
+    
+            Former Red Lobster employees say Thai Union’s cost-cutting efforts and strategy mistakes hurt the chain.
+    
+            “Thai Union forced huge cost reductions, including many that were penny wise and pound foolish because they hurt sales,” a former Red Lobster executive who spoke under the condition of anonymity because of a non-disclosure agreement with the company told CNN earlier this month. Thai Union did not respond to requests for comment on that article.
+    
+            Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn. Red Lobster has had five CEOs since 2021. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer. All were gone within two years.
+    
+            Last summer, under Thai Union, Red Lobster turned $20 endless shrimp into a permanent item on the menu for the first time, instead of its traditional limited-time offer deal. The change cost the company $11 million and cut into Thai Union profit. In its bankruptcy filing, Red Lobster said it is investigating the circumstances of that promotion, which the company’s management opposed.
+    
+            “We need to be much more careful,” Thai Union CFO Ludovic Garnier said on an earnings call in November 2023.
+    
+            But the company in its bankruptcy filing blamed Thai Union for the losses. Noting that under the guise of a “quality review,” Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal. That led to higher costs for the restaurant chain, and did not comply with the company’s typical decision-making process for picking suppliers based on projected demand.
+    
+            The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.
+    
+            Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.
+    
+            In its bankruptcy filing, Red Lobster conceded it had “a bloated and underperforming restaurant footprint” and cited a difficult economic environment and increased competition for its recent financial failures.
+    
+            Red Lobster has been telegraphing its bankruptcy for months.
+    
+            In January, the company hired Jonathan Tibus, a restructuring veteran, to assess its business. It named Tibus as CEO in March. Last week, the company began shutting down 93 restaurants in preparation for its bankruptcy.
+    
+            As it ran out of cash, the company stopped paying its vendors last year.
+    
+            The company plans to stay afloat with a $100 million financing agreement, it said in its bankruptcy petition.
+    
+            This story has been updated with additional developments and context.",CNN,20/05/2024,"['Red Lobster, which brought affordable shrimp and lobster to middle-class America and grew to become the largest seafood restaurant chain in the world, has filed for bankruptcy.', 'The company said it had more than $1 billion in debt and less than $30 million in cash on hand.', 'It plans to sell its business to its lenders, and in turn, it will receive financing to stay afloat.', 'It expects to continue to close restaurants in the meantime.', 'Red Lobster, known for its cheddar bay biscuits, crab legs and shrimp dishes, spread around the country during the 1980s and 1990s.', 'In 2016, Beyoncé mentioned Red Lobster in her song “Formation,” describing bringing a romantic partner to Red Lobster, causing sales to surge.', 'With 578 restaurants across 44 states and Canada, Red Lobster serves 64 million customers a year, and it brings in $2 billion in annual sales, the company said in its bankruptcy filing.', 'One in five lobster tails purchased in North America is bought by Red Lobster.', 'But recent mismanagement, competition, inflation and other factors brought down Red Lobster, analysts and former Red Lobster employees say.', 'Years of underinvestment in Red Lobster’s marketing, food quality, service and restaurant upgrades hurt the chain’s ability to compete with growing fast-casual and quick-service chains.', 'Red Lobster started in 1968 by Bill Darden, an architect of the casual dining revolution in America, and General Mills soon bought the restaurant.', 'Red Lobster later became part of Darden Restaurants, the owner of Olive Garden and other chains.', 'In 2014, Darden sold off Red Lobster to Golden Gate Capital, a private equity firm, for $2.1 billion.', 'Since 2020, seafood distributor Thai Union Group, based in Thailand, has been the largest Red Lobster shareholder.', 'Thai Union owns 49% of the company.', 'But Red Lobster has struggled under Thai Union.', 'The number of customers coming to Red Lobster tumbled 30% since 2019 and has only slightly improved since the pandemic.', 'Earlier this year, Thai Union said it would divest from Red Lobster and take a $530 million loss on its investment.', 'Former Red Lobster employees say Thai Union’s cost-cutting efforts and strategy mistakes hurt the chain.', '“Thai Union forced huge cost reductions, including many that were penny wise and pound foolish because they hurt sales,” a former Red Lobster executive who spoke under the condition of anonymity because of a non-disclosure agreement with the company told CNN earlier this month.', 'Thai Union did not respond to requests for comment on that article.', 'Red Lobster executives began to run for the doors under Thai Union’s management, resulting in a huge amount of C-suite churn.', 'Red Lobster has had five CEOs since 2021.', 'In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.', 'All were gone within two years.', 'Last summer, under Thai Union, Red Lobster turned $20 endless shrimp into a permanent item on the menu for the first time, instead of its traditional limited-time offer deal.', 'The change cost the company $11 million and cut into Thai Union profit.', 'In its bankruptcy filing, Red Lobster said it is investigating the circumstances of that promotion, which the company’s management opposed.', '“We need to be much more careful,” Thai Union CFO Ludovic Garnier said on an earnings call in November 2023.', 'But the company in its bankruptcy filing blamed Thai Union for the losses.', 'Noting that under the guise of a “quality review,” Red Lobster eliminated two of its breaded shrimp suppliers, leaving Thai Union with an exclusive deal.', 'That led to higher costs for the restaurant chain, and did not comply with the company’s typical decision-making process for picking suppliers based on projected demand.', 'The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.', 'Casual dining has slipped from 36% of total restaurant industry sales in 2013 to 31% in 2023, according to Technomic, a restaurant research firm.', 'In its bankruptcy filing, Red Lobster conceded it had “a bloated and underperforming restaurant footprint” and cited a difficult economic environment and increased competition for its recent financial failures.', 'Red Lobster has been telegraphing its bankruptcy for months.', 'In January, the company hired Jonathan Tibus, a restructuring veteran, to assess its business.', 'It named Tibus as CEO in March.', 'Last week, the company began shutting down 93 restaurants in preparation for its bankruptcy.', 'As it ran out of cash, the company stopped paying its vendors last year.', 'The company plans to stay afloat with a $100 million financing agreement, it said in its bankruptcy petition.', 'This story has been updated with additional developments and context.']",0.0087222652082627,The explosive growth and popularity of fast-casual chains like Chipotle and quick-service chains like Chick-fil-A over the past two decades also squeezed Red Lobster.,But the company in its bankruptcy filing blamed Thai Union for the losses.,-0.3643529415130615,The number of customers coming to Red Lobster tumbled 30% since 2019 and has only slightly improved since the pandemic.,"In its bankruptcy filing, Red Lobster conceded it had “a bloated and underperforming restaurant footprint” and cited a difficult economic environment and increased competition for its recent financial failures.",2024-05-21
+"Taylor Swift fans are causing a spike in European air travel, United says",https://edition.cnn.com/2024/05/21/business/taylor-swift-tour-europe-travel-spike/index.html,"
+  Published
+        7:57 AM EDT, Tue May 21, 2024
+    ","Air travelers, are you ready for it? The official kickoff for summer this weekend is going to get even busier, thanks in part to Taylor Swift.
+    
+            United Airlines revealed that demand for flights to Lisbon, Portugal, where Swift is performing for her “Eras Tour,” shot up 25% for this weekend compared to last summer — and the surge is going to continue for the next few months as fans flock to Europe to for concert tickets that are thousands of dollars cheaper compared to the US.
+    
+            Bookings to other European cities where’s she’s performing in the coming weeks, including Madrid, Edinburgh and Dublin, are also surging, a United representative told CNN.
+    
+            United’s flights to Milan and Munich for Swift’s shows in July have captured the biggest increase in demand – upwards of 45% more passengers compared to last year.
+    
+            The airline flies to all of these cities from its East Coast hubs at Newark and Dulles, with some other destinations additionally linked from its other hubs in San Francisco, Denver, Chicago’s O’Hare and Houston.
+    
+            Delta Air Lines told CNN demand is on the rise for flights to her European tour. The airline said it is prepared as it flies its largest-ever international summer schedule by adding destinations and restoring routes that were cut because of the pandemic.
+    
+            Both airlines are bracing for record-breaking summer travel overall. Delta and United said it will fly nearly 3 million people during Memorial Day weekend, lasting from Thursday to next Monday, a 5% increase from last year.
+    
+            Airlines for America, a group representing major US airlines, predicts record numbers of passengers this summer, with carriers expected to fly 270 million passengers — up 6% from last year.
+    
+            The increase in bookings is just another example of “Swiftonomics,” the pop icon’s ability to influence the economies of the cities and countries that she visits on her mammoth global tour.
+    
+            More than 1 million Swifties will attend the superstar’s shows in the United Kingdom later this summer, with the typical fan expected to spend £642 ($810) on travel, accommodation and other expenses, injecting a total of £755 million ($953 million) into the economy, according to a recent Barclays report.
+    
+            “When it comes to cultural icons like Taylor Swift — like we saw with Elvis and Beatlemania in the 50s and 60s — supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful,” Dr. Peter Brooks, chief behavioral scientist at Barclays, said in the report.
+    
+            -CNN’s Anna Cooban contributed to this report.",CNN,21/05/2024,"['Air travelers, are you ready for it?', 'The official kickoff for summer this weekend is going to get even busier, thanks in part to Taylor Swift.', 'United Airlines revealed that demand for flights to Lisbon, Portugal, where Swift is performing for her “Eras Tour,” shot up 25% for this weekend compared to last summer — and the surge is going to continue for the next few months as fans flock to Europe to for concert tickets that are thousands of dollars cheaper compared to the US.', 'Bookings to other European cities where’s she’s performing in the coming weeks, including Madrid, Edinburgh and Dublin, are also surging, a United representative told CNN.', 'United’s flights to Milan and Munich for Swift’s shows in July have captured the biggest increase in demand – upwards of 45% more passengers compared to last year.', 'The airline flies to all of these cities from its East Coast hubs at Newark and Dulles, with some other destinations additionally linked from its other hubs in San Francisco, Denver, Chicago’s O’Hare and Houston.', 'Delta Air Lines told CNN demand is on the rise for flights to her European tour.', 'The airline said it is prepared as it flies its largest-ever international summer schedule by adding destinations and restoring routes that were cut because of the pandemic.', 'Both airlines are bracing for record-breaking summer travel overall.', 'Delta and United said it will fly nearly 3 million people during Memorial Day weekend, lasting from Thursday to next Monday, a 5% increase from last year.', 'Airlinesfor America, a grouprepresenting major USairlines, predicts record numbers of passengers this summer, with carriers expected to fly 270 million passengers — up6%fromlastyear.', 'The increase in bookings is just another example of “Swiftonomics,” the pop icon’s ability to influence the economies of the cities and countries that she visits on her mammoth global tour.', 'More than 1 million Swifties will attend the superstar’s shows in the United Kingdom later this summer, with the typical fan expected to spend £642 ($810) on travel, accommodation and other expenses, injecting a total of £755 million ($953 million) into the economy, according to a recent Barclays report.', '“When it comes to cultural icons like Taylor Swift — like we saw with Elvis and Beatlemania in the 50s and 60s — supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful,” Dr. Peter Brooks, chief behavioral scientist at Barclays, said in the report.', '-CNN’s Anna Cooban contributed to this report.']",0.3580058733475522,"“When it comes to cultural icons like Taylor Swift — like we saw with Elvis and Beatlemania in the 50s and 60s — supporters have such a strong connection to the artist and to the rest of the fandom that the desire to spend becomes even more powerful,” Dr. Peter Brooks, chief behavioral scientist at Barclays, said in the report.",,0.9529615461826324,"Airlinesfor America, a grouprepresenting major USairlines, predicts record numbers of passengers this summer, with carriers expected to fly 270 million passengers — up6%fromlastyear.",,2024-05-21
+Class of 2024: How’s your job search going?,https://edition.cnn.com/2024/05/20/business/gradute-college-but-havent-been-hired-yet/index.html,"
+  Updated
+        4:23 PM EDT, Mon May 20, 2024
+    ","By many measures, the US economy is in great shape. There are millions of job openings and the unemployment rate is low. In fact it hasn’t been this low for such a long stretch of time in decades.
+    
+            If you just graduated college, there’s a good chance people are telling you that you’re lucky you didn’t graduate when they did. That may include the onset of the pandemic, the Great Recession or any time the job market looked worse on paper than it does now.
+    
+            That said, getting a job straight out of college has never been easy. And oftentimes economic data can tell a different story than the reality people are experiencing.
+    
+            That’s why CNN wants to hear from the class of 2024 about your job searches, for possible inclusion in an upcoming story.
+    
+            Share your experience using the form below. We will not include anything in an upcoming article without first reaching out to you and interviewing you.",CNN,20/05/2024,"['By many measures, the US economy is in great shape.', 'There are millions of job openings and the unemployment rate is low.', 'In fact it hasn’t been this low for such a long stretch of time in decades.', 'If you just graduated college, there’s a good chance people are telling you that you’re lucky you didn’t graduate when they did.', 'That may include the onset of the pandemic, the Great Recession or any time the job market looked worse on paper than it does now.', 'That said, getting a job straight out of college has never been easy.', 'And oftentimes economic data can tell a different story than the reality people are experiencing.', 'That’s why CNN wants to hear from the class of 2024 about your job searches, for possible inclusion in an upcoming story.', 'Share your experience using the form below.', 'We will not include anything in an upcoming article without first reaching out to you and interviewing you.']",0.0324068230618718,"If you just graduated college, there’s a good chance people are telling you that you’re lucky you didn’t graduate when they did.",There are millions of job openings and the unemployment rate is low.,-0.0046736896038055,"By many measures, the US economy is in great shape.","That may include the onset of the pandemic, the Great Recession or any time the job market looked worse on paper than it does now.",2024-05-21
+Red Lobster choked on its own shrimp supply,https://edition.cnn.com/2024/05/21/business/red-lobster-endless-shrimp-bankruptcy/index.html,"
+  Published
+        6:30 AM EDT, Tue May 21, 2024
+    ","Red Lobster’s bankruptcy report included a blow-by-blow account of its path toward financial ruin, and it was as juicy as a fresh crab leg dipped in butter and washed down with a crisp Chardonnay.
+    
+            ICYMI: Red Lobster on Monday began its widely anticipated bankruptcy process, hoping to offload debt and raise cash to keep the business from foundering, my colleague Nathaniel Meyersohn writes. Most likely, that means you can still get your cheddar biscuit and bottomless shrimp fix, though it closed nearly 100 restaurants last week and many more locations will shut down in the coming months.
+    
+            What went wrong for Red Lobster, the chain that effectively introduced the concept of affordable seafood and kitschy coastal aesthetic to landlubbers across the Midwest and beyond?
+    
+            First, Red Lobster got screwed by private equity. Then, it got screwed by its own managers.
+    
+            Back in 2014, the Darden restaurant group spun off Red Lobster to a private equity firm. To finance the deal, that PE firm sold off most of Red Lobster’s property assets and then leased them back to the restaurants. But, as we learned in the bankruptcy filing, the vast majority of those restaurants were being charged rent at above market rates.
+    
+            That cash drain might have been manageable under normal circumstances. But then 2020 came.
+    
+            Red Lobster was hit with “financial and operational challenges” — namely, the one-two punch of the pandemic and the price inflation it set off, followed by the bone-headed strategic blunders that left the restaurant with $1 billion in debt and less than $30 million in cash on hand.
+    
+            Management wasn’t doing the chain any favors, either, as Red Lobster’s new CEO/bankruptcy shaman Jonathan Tibus notes in the Chapter 11 filing. Specifically, Tibus takes aim at his predecessor Paul Kenny and Thai Union, the Bangkok-based seafood supplier that took a majority stake in Red Lobster in 2020. Thai Union hand-picked Kenny to lead Red Lobster two years ago.
+    
+            Thai Union, under Kenny’s direction, elbowed out other shrimp suppliers, “leaving Thai Union with an exclusive deal that led to higher costs to Red Lobster,” according to the filing.
+    
+            And if you’re the exclusive provider of shrimp to America’s biggest seafood chain, what’d be better than making that limited-time all-you-can-eat shrimp deal a permanent menu item?
+    
+            Ultimately, it was Kenny who pushed through the decision to turn Red Lobster’s “Ultimate Endless Shrimp” promotion into a permanent $20 menu item “despite significant pushback from other members of the company’s management team,” according to the filing.
+    
+            CNN has reached out to Kenny for comment. Thai Union didn’t respond to requests for comment.
+    
+            The all-you-can-eat shrimp deal alone didn’t doom Red Lobster, but boy did it do some damage at a time when the chain was already buckling.
+    
+            The promotion had historically been a limited time thing, and it was a huge hit. Twenty bucks, for all the shrimp? Sign me up! Of course, that’s how every other crustacean-consuming American responded. Because in this country, “all you can eat” is as much a dare as it is a deal. And the lingering hangover of inflation left everyone hungry for a $20 meal that could conceivably provide a week’s worth of sustenance in a single sitting.
+    
+            It cost Red Lobster $11 million in a single quarter.
+    
+            Kenny and Co. not only underestimated how much we could eat, but how long we would take to do it. Once the Endless Shrimp order was placed, folks lingered at their tables to maximize their ROI. Wait times got longer, frustrating staff and customers alike.
+    
+            What happened to the Red Lobster of the ’80s and ‘90s? Like so many beloved brands, it got caught in the net of private equity before being reeled in and gutted.",CNN,21/05/2024,"['Red Lobster’s bankruptcy report included a blow-by-blow account of its path toward financial ruin, and it was as juicy as a fresh crab leg dipped in butter and washed down with a crisp Chardonnay.', 'ICYMI: Red Lobster on Monday began its widely anticipated bankruptcy process, hoping to offload debt and raise cash to keep the business from foundering, my colleague Nathaniel Meyersohn writes.', 'Most likely, that means you can still get your cheddar biscuit and bottomless shrimp fix, though it closed nearly 100 restaurants last week and many more locations will shut down in the coming months.', 'What went wrong for Red Lobster, the chain that effectively introduced the concept of affordable seafood and kitschy coastal aesthetic to landlubbers across the Midwest and beyond?', 'First, Red Lobster got screwed by private equity.', 'Then, it got screwed by its own managers.', 'Back in 2014, the Darden restaurant group spun off Red Lobster to a private equity firm.', 'To finance the deal, that PE firm sold off most of Red Lobster’s property assets and then leased them back to the restaurants.', 'But, as we learned in the bankruptcy filing, the vast majority of those restaurants were being charged rent at above market rates.', 'That cash drain might have been manageable under normal circumstances.', 'But then 2020 came.', 'Red Lobster was hit with “financial and operational challenges” — namely, the one-two punch of the pandemic and the price inflation it set off, followed by the bone-headed strategic blunders that left the restaurant with $1 billion in debt and less than $30 million in cash on hand.', 'Management wasn’t doing the chain any favors, either, as Red Lobster’s new CEO/bankruptcy shaman Jonathan Tibus notes in the Chapter 11 filing.', 'Specifically, Tibus takes aim at his predecessor Paul Kenny and Thai Union, the Bangkok-based seafood supplier that took a majority stake in Red Lobster in 2020.', 'Thai Union hand-picked Kenny to lead Red Lobster two years ago.', 'Thai Union, under Kenny’s direction, elbowed out other shrimp suppliers, “leaving Thai Union with an exclusive deal that led to higher costs to Red Lobster,” according to the filing.', 'And if you’re the exclusive provider of shrimp to America’s biggest seafood chain, what’d be better than making that limited-time all-you-can-eat shrimp deal a permanent menu item?', 'Ultimately, it was Kenny who pushed through the decision to turn Red Lobster’s “Ultimate Endless Shrimp” promotion into a permanent $20 menu item “despite significant pushback from other members of the company’s management team,” according to the filing.', 'CNN has reached out to Kenny for comment.', 'Thai Union didn’t respond to requests for comment.', 'The all-you-can-eat shrimp deal alone didn’t doom Red Lobster, but boy did it do some damage at a time when the chain was already buckling.', 'The promotion had historically been a limited time thing, and it was a huge hit.', 'Twenty bucks, for all the shrimp?', 'Sign me up!', 'Of course, that’s how every other crustacean-consuming American responded.', 'Because in this country, “all you can eat” is as much a dare as it is a deal.', 'And the lingering hangover of inflation left everyone hungry for a $20 meal that could conceivably provide a week’s worth of sustenance in a single sitting.', 'It cost Red Lobster $11 million in a single quarter.', 'Kenny and Co. not only underestimated how much we could eat, but how long we would take to do it.', 'Once the Endless Shrimp order was placed, folks lingered at their tables to maximize their ROI.', 'Wait times got longer, frustrating staff and customers alike.', 'What happened to the Red Lobster of the ’80s and ‘90s?', 'Like so many beloved brands, it got caught in the net of private equity before being reeled in and gutted.']",-0.0017207529495682,"Like so many beloved brands, it got caught in the net of private equity before being reeled in and gutted.","The all-you-can-eat shrimp deal alone didn’t doom Red Lobster, but boy did it do some damage at a time when the chain was already buckling.",-0.2023102819919586,"The promotion had historically been a limited time thing, and it was a huge hit.","Red Lobster was hit with “financial and operational challenges” — namely, the one-two punch of the pandemic and the price inflation it set off, followed by the bone-headed strategic blunders that left the restaurant with $1 billion in debt and less than $30 million in cash on hand.",2024-05-21
+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.",2024-05-21
+Walmart’s business surges as shoppers hunt for low prices,https://edition.cnn.com/2024/05/16/investing/walmart-sales-inflation/index.html,"
+  Updated
+        1:52 PM EDT, Thu May 16, 2024
+    ","Businesses from McDonald’s to Home Depot are struggling to attract financially strapped shoppers. But Walmart is growing as consumers search for inexpensive groceries, essentials and other merchandise.
+    
+            Walmart said Thursday that sales at stores open at least a year increased 3.8% during its latest quarter from the same time last year. The company raised its sales and profit guidance for the year, a sign it expects growth to continue.
+    
+            The largest retailer in the United States has used its size and buying power to keep prices lower than competitors even as inflation has surged since the pandemic, retail analysts say.
+    
+            Groceries account for more than half of Walmart’s sales, and Walmart has benefited from its pricing advantage with prices around 25% lower than traditional supermarkets, according to analysts at Evercore IRI.
+    
+            While low and middle-income shoppers have traditionally formed the core of Walmart’s customer base, Walmart also has grown with people making more than $100,000 a year, saying that its gains last quarter were “primarily driven by upper-income households.”
+    
+            Walmart is also making gains online. Its digital sales, which include in-store pickup and delivery, grew 22% last quarter.
+    
+            “Most Americans remain uncomfortable with food prices and are still actively looking for ways to keep their spending in check,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Thursday. This has worked in “Walmart’s favor and has allowed the chain to continue to acquire new customers.”
+    
+            Walmart’s stock jumped 7% during afternoon trading Thursday.
+    
+            Meanwhile, department stores, home improvement retailers and other retail segments have  taken a hit as stretched shoppers pull back. Fast food chains have also struggled.
+    
+            Retail sales have slipped overall in recent months.
+    
+            Home Depot’s sales at stores open for at least one year fell 2.8% last quarter, the company said this week, and some lower-income Americans are rejecting McDonald’s, opting to cook at home instead, according to McDonald’s.
+    
+            “It’s a challenging consumer environment,” said Ian Borden, McDonald’s CFO, noting that many consumers are trying to manage inflation, higher interest rates and dwindling savings.",CNN,16/05/2024,"['Businesses from McDonald’s to Home Depot are struggling to attract financially strapped shoppers.', 'But Walmart is growing as consumers search for inexpensive groceries, essentials and other merchandise.', 'Walmart said Thursday that sales at stores open at least a year increased 3.8% during its latest quarter from the same time last year.', 'The company raised its sales and profit guidance for the year, a sign it expects growth to continue.', 'The largest retailer in the United States has used its size and buying power to keep prices lower than competitors even as inflation has surged since the pandemic, retail analysts say.', 'Groceries account for more than half of Walmart’s sales, and Walmart has benefited from its pricing advantage with prices around 25% lower than traditional supermarkets, according to analysts at Evercore IRI.', 'While low and middle-income shoppers have traditionally formed the core of Walmart’s customer base, Walmart also has grown with people making more than $100,000 a year, saying that its gains last quarter were “primarily driven by upper-income households.”', 'Walmart is also making gains online.', 'Its digital sales, which include in-store pickup and delivery, grew 22% last quarter.', '“Most Americans remain uncomfortable with food prices and are still actively looking for ways to keep their spending in check,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Thursday.', 'This has worked in “Walmart’s favor and has allowed the chain to continue to acquire new customers.”', 'Walmart’s stock jumped 7% during afternoon trading Thursday.', 'Meanwhile, department stores, home improvement retailers and other retail segments have taken a hit as stretched shoppers pull back.', 'Fast food chains have also struggled.', 'Retail sales have slipped overall in recent months.', 'Home Depot’s sales at stores open for at least one year fell 2.8% last quarter, the company said this week, and some lower-income Americans are rejectingMcDonald’s, opting to cook at home instead, according to McDonald’s.', '“It’s a challenging consumer environment,” said Ian Borden, McDonald’s CFO, noting that many consumers are trying to manage inflation, higher interest rates and dwindling savings.']",0.1344126404167387,"The company raised its sales and profit guidance for the year, a sign it expects growth to continue.",Fast food chains have also struggled.,0.1932645440101623,"While low and middle-income shoppers have traditionally formed the core of Walmart’s customer base, Walmart also has grown with people making more than $100,000 a year, saying that its gains last quarter were “primarily driven by upper-income households.”","Home Depot’s sales at stores open for at least one year fell 2.8% last quarter, the company said this week, and some lower-income Americans are rejectingMcDonald’s, opting to cook at home instead, according to McDonald’s.",2024-05-21
+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.",2024-05-21
+Boeing boss's $33m pay package approved,https://www.bbc.co.uk/news/articles/c72pv86n5r3o,2024-05-17T17:16:00.578Z,"Boeing shareholders have signed off on the plane-maker's plan to grant outgoing boss Dave Calhoun a 2023 pay package worth nearly $33m (£25m). A majority voted in favour of the plan, which had drawn criticism as the company grapples with a crisis sparked by the mid-air blowout of a panel on one of its planes in January.  Such pay votes, held at the company's annual meetings, are not binding. A breakdown of the vote was not immediately available. Ahead of the meeting, at least one prominent shareholder advisory group had criticised the plan and it also drew attention from some investors who spoke at the event. The firm's decision to keep outgoing boss Dave Calhoun on the company's board of directors had raised questions as well, but was also approved. Mr Calhoun's compensation package included salary of $1.4m (£1.1m) and stock awards worth about $30m (£23m) when granted.  That compared to a package of roughly $22.6m (£17m) in 2022.  In a question-and answer session after the vote, the firm was asked how the compensation for Mr Calhoun and others were ""justified"" given the severe challenges now facing the company. New board chairman Steve Mollenkopf said the board had reduced some 2024 awards for executives after the accident and moved swiftly to overhaul the design of its pay incentives. That included giving product safety the primary weight in determining performance, instead of financial factors - such as cash flow and share price - as had been the case previously, he said. But both he and Mr Calhoun acknowledged the strains facing the company, some of which Mr Calhoun described as  ""potentially existential"" in nature.  The Alaska Airlines incident revived questions about the firm's manufacturing and safety procedures and has spawned numerous investigations and lawsuits.  Just days ago, the US Department of Justice (DOJ) said it was considering whether to prosecute Boeing over deadly crashes involving its 737 Max aircraft in 2018 and 2019, after determining it had breached a deal that shielded it from criminal charges. In March, Boeing said Mr Calhoun would step down by the end of the year. The search for his replacement is a key focus of the company now, Mr Mollenkopf said.  ""The months and years ahead are critically important for our company as we take the necessary steps to regain the trust lost in recent times,"" he said.  In putting the pay package to shareholders earlier this year, the company praised how Mr Calhoun had steered the company through challenges such as Covid since 2020.  It said he had responded to the Alaska Airlines blowout ""in the right way"". ""The 737 MAX accidents and COVID have combined to create tremendous stress on the Company’s manufacturing operations and supply chain,"" it said.  ""However, the Board believes that Mr. Calhoun’s primary focus on safety, quality and transparency is exactly what Boeing has needed, and continues to need."" ",BBC,17/05/2024,"[""Boeing shareholders have signed off on the plane-maker's plan to grant outgoing boss Dave Calhoun a 2023 pay package worth nearly $33m (£25m)."", 'A majority voted in favour of the plan, which had drawn criticism as the company grapples with a crisis sparked by the mid-air blowout of a panel on one of its planes in January.', ""Such pay votes, held at the company's annual meetings, are not binding."", 'A breakdown of the vote was not immediately available.', 'Ahead of the meeting, at least one prominent shareholder advisory group had criticised the plan and it also drew attention from some investors who spoke at the event.', ""The firm's decision to keep outgoing boss Dave Calhoun on the company's board of directors had raised questions as well, but was also approved."", ""Mr Calhoun's compensation package included salary of $1.4m (£1.1m) and stock awards worth about $30m (£23m) when granted."", 'That compared to a package of roughly $22.6m (£17m) in 2022.', 'In a question-and answer session after the vote, the firm was asked how the compensation for Mr Calhoun and others were ""justified"" given the severe challenges now facing the company.', 'New board chairman Steve Mollenkopf said the board had reduced some 2024 awards for executives after the accident and moved swiftly to overhaul the design of its pay incentives.', 'That included giving product safety the primary weight in determining performance, instead of financial factors - such as cash flow and share price - as had been the case previously, he said.', 'But both he and Mr Calhoun acknowledged the strains facing the company, some of which Mr Calhoun described as ""potentially existential"" in nature.', ""The Alaska Airlines incident revived questions about the firm's manufacturing and safety procedures and has spawned numerous investigations and lawsuits."", 'Just days ago, the US Department of Justice (DOJ) said it was considering whether to prosecute Boeing over deadly crashes involving its 737 Max aircraft in 2018 and 2019, after determining it had breached a deal that shielded it from criminal charges.', 'In March, Boeing said Mr Calhoun would step down by the end of the year.', 'The search for his replacement is a key focus of the company now, Mr Mollenkopf said. ""', 'The months and years ahead are critically important for our company as we take the necessary steps to regain the trust lost in recent times,"" he said.', 'In putting the pay package to shareholders earlier this year, the company praised how Mr Calhoun had steered the company through challenges such as Covid since 2020.', 'It said he had responded to the Alaska Airlines blowout ""in the right way"". ""', 'The 737 MAX accidents and COVID have combined to create tremendous stress on the Company’s manufacturing operations and supply chain,"" it said. ""', 'However, the Board believes that Mr. Calhoun’s primary focus on safety, quality and transparency is exactly what Boeing has needed, and continues to need.""']",0.1241324687216989,"That included giving product safety the primary weight in determining performance, instead of financial factors - such as cash flow and share price - as had been the case previously, he said.","A majority voted in favour of the plan, which had drawn criticism as the company grapples with a crisis sparked by the mid-air blowout of a panel on one of its planes in January.",0.0022622227668762,Boeing shareholders have signed off on the plane-maker's plan to grant outgoing boss Dave Calhoun a 2023 pay package worth nearly $33m (£25m).,"The 737 MAX accidents and COVID have combined to create tremendous stress on the Company’s manufacturing operations and supply chain,"" it said. """,2024-05-21
+Elvis’ granddaughter fights Graceland foreclosure sale and alleges fraud,https://edition.cnn.com/2024/05/20/business/graceland-elvis-granddaughter-fights-foreclosure-sale/index.html,"
+  Updated
+        5:58 AM EDT, Tue May 21, 2024
+    ","Elvis Presley’s granddaughter is suing to stop a foreclosure sale of the late singer’s historic Memphis home, Graceland, scheduled this week, alleging fraud and saying the purported company behind the sale doesn’t exist and has no rights to the property.
+    
+            Danielle Riley Keough, the granddaughter of Elvis and the current owner of the property, was able to get a restraining order against any sale before a court rules on her application for an injunction, according to court documents obtained by CNN.
+    
+            Keough filed a lawsuit this month stating that last year, “Naussany Investments & Private Lending LLC presented documents purporting to show that Lisa Marie Presley had borrowed $3.8 million from Naussany Investments and gave a deed of trust encumbering Graceland as security.”
+    
+            Lisa Marie Presley, Elvis’ daughter and Keough’s mother, died in January 2023. Lisa Marie Presley was the sole heir to Graceland and her father’s estate when he died in 1977, and its overall worth has now reportedly reached into the hundreds of millions of dollars.
+    
+            “These documents are fraudulent,” Keough’s lawsuit alleges. “Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”
+    
+            The court document also identified a notary in Florida who said she “never met Lisa Marie Presley nor notarized any document for her,” despite her name being on loan paperwork.
+    
+            The lawsuit alleges Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of defrauding.”
+    
+            CNN emailed Naussany Investments & Private Lending LLC and received an automated reply, “We are currently out of the office; we will resume normal business hours on Tuesday May 28, 2024.”
+    
+            When CNN attempted to reach Naussany Investments & Private Lending LLC by phone, the number was no longer in service. The business was listed in a court document from Keough’s attorney as being located in Kimberling City, Missouri, but CNN was unable to locate a business in the state of Missouri by that name via the secretary of state’s office. CNN was also unable to locate a business by that name when searching nationwide.
+    
+            “Naussany Investments has now scheduled a non-judicial sale of Graceland based on the fraudulent deed of trust,” the lawsuit reads. “The sale is scheduled for May 23, 2024. This is an action to enjoin the non-judicial sale.”
+    
+            According to court documents obtained by CNN, a temporary restraining order was granted on May 15 prohibiting Naussany Investments & Private Lending LLC from conducting “any non-judicial sale” of the property.
+    
+            CNN has sought comment from representatives and attorneys for Keough.
+    
+            In a statement, Elvis Presley Enterprises, the company that manages Presley’s estate, concurred that Naussany’s claim was illegitimate.
+    
+            “Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “There is no foreclosure sale. Simply put, the counter lawsuit has been filed is to stop the fraud.”
+    
+            Graceland is one of the South’s biggest tourist draws and for years was the nation’s second-most visited home after the White House. In 2020, a Presley executive told Rolling Stone that Presley’s estate was worth between $400 million and $500 million.
+    
+             Lisa Marie Presley annually earned seven figures from it, based on a court filing in her 2022 divorce.
+    
+            A hearing is scheduled for Wednesday at 9 a.m. at Chancery Court in Shelby County, Tennessee.
+    
+            CNN’s Joe Sutton, Luciana Lopez and Alli Rosenbloom contributed to this report.",CNN,21/05/2024,"['Elvis Presley’s granddaughter is suing to stop a foreclosure sale of the late singer’s historic Memphis home, Graceland, scheduled this week, alleging fraud and saying the purported company behind the sale doesn’t exist and has no rights to the property.', 'Danielle Riley Keough, the granddaughter of Elvis and the current owner of the property, was able to get a restraining order against any sale before a court rules on her application for an injunction, according to court documents obtained by CNN.', 'Keough filed a lawsuit this monthstating that last year, “Naussany Investments & Private Lending LLC presented documents purporting to show that Lisa Marie Presley had borrowed $3.8 million from Naussany Investments and gave a deed of trust encumbering Graceland as security.”', 'Lisa Marie Presley, Elvis’daughter and Keough’s mother, died in January 2023.', 'Lisa Marie Presley was the sole heir to Graceland and her father’s estate when he died in 1977, and its overall worth has now reportedly reached into the hundreds of millions of dollars.', '“These documents are fraudulent,” Keough’s lawsuit alleges. “', 'Lisa Marie Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments.”', 'The court document also identified a notary in Florida who said she “never met Lisa Marie Presley nor notarized any document for her,” despite her name being on loan paperwork.', 'The lawsuit alleges Naussany Investments & Private Lending LLC “appears to be a false entity created for the purpose of defrauding.”', 'CNN emailed Naussany Investments & Private Lending LLC and received an automated reply, “We are currently out of the office; we will resume normal business hours on Tuesday May 28, 2024.”', 'When CNN attempted to reach Naussany Investments & Private Lending LLC by phone, the number was no longer in service.', 'The business was listed in a court document from Keough’s attorney as being located in Kimberling City, Missouri, but CNN was unable to locate a business in the state of Missouri by that name via the secretary of state’s office.', 'CNN was also unable to locate a business by that name when searching nationwide.', '“Naussany Investments has now scheduled a non-judicial sale of Graceland based on the fraudulent deed of trust,” the lawsuit reads. “', 'The sale is scheduled for May 23, 2024.This is an action to enjoin the non-judicial sale.”', 'According to court documents obtained by CNN, a temporary restraining order was grantedon May 15prohibiting Naussany Investments & Private Lending LLC from conducting “any non-judicial sale” of the property.', 'CNN has sought comment from representatives and attorneys for Keough.', 'In a statement, Elvis Presley Enterprises, the company that manages Presley’s estate, concurred that Naussany’s claim was illegitimate.', '“Elvis Presley Enterprises can confirm that these claims are fraudulent,” the company said. “', 'There is no foreclosure sale.', 'Simply put, the counter lawsuit has been filed is to stop the fraud.”', 'Graceland is one of the South’s biggest tourist draws and foryearswas the nation’s second-most visited homeafter the White House.', 'In 2020, a Presley executivetold Rolling Stonethat Presley’s estate was worth between $400 million and $500 million.', 'Lisa Marie Presley annually earned seven figures from it, based on a court filing in her 2022 divorce.', 'A hearing is scheduled for Wednesday at 9 a.m. at Chancery Court in Shelby County, Tennessee.', 'CNN’s Joe Sutton, Luciana Lopez andAlli Rosenbloom contributed to this report.']",-0.1194504962647776,"Keough filed a lawsuit this monthstating that last year, “Naussany Investments & Private Lending LLC presented documents purporting to show that Lisa Marie Presley had borrowed $3.8 million from Naussany Investments and gave a deed of trust encumbering Graceland as security.”","Elvis Presley’s granddaughter is suing to stop a foreclosure sale of the late singer’s historic Memphis home, Graceland, scheduled this week, alleging fraud and saying the purported company behind the sale doesn’t exist and has no rights to the property.",0.9991542100906372,"Danielle Riley Keough, the granddaughter of Elvis and the current owner of the property, was able to get a restraining order against any sale before a court rules on her application for an injunction, according to court documents obtained by CNN.",,2024-05-21
+Water firms ask for bill rises of between 24% and 91%,https://www.bbc.co.uk/news/articles/ce55vp78n40o,2024-05-21T13:33:01.036Z,"Water companies in England and Wales want bills to increase by between 24% and 91% over the next five years, according to figures compiled by the consumer watchdog. Southern Water is asking for the biggest jump of 91%, according to the Consumer Council for Water (CCW), with South Staffordshire and Cambridge Water asking for the lowest rise of 24%.  Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas. The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030. Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure. Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers. The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half. Mike Keil, chief executive of the CCW, said bill rises were ""going to come as a massive surprise to people"". ""People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said. Source: Consumer Council for Water Estimate are for average bills. Costs will vary depending on a property's rateable value  The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October. The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target. There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales. The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems. Katy Taylor, Southern Water’s chief customer officer, said the company shared ""everyone’s concerns about rising payments"", but added ""the water needs of our water-stressed region pose a unique set of challenges which require significant investment"". She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"". Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.  In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period. Macquarie points out that it has recently injected £500m of additional cash into Southern Water. Water UK, which represents suppliers, said bill rises were ""never welcome"" and added that water companies were ""massively increasing the level of financial support they offer to customers who struggle to pay their bills"". ""Ofwat is currently scrutinising these plans and will only allow investment that is new, necessary and value for money. It will not allow water companies to spend money on anything for which they have already received funding,"" the industry body said. Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December. Water services are publicly owned in Northern Ireland and Scotland. ",BBC,21/05/2024,"['Water companies in England and Wales want bills to increase by between 24% and 91% over the next five years, according to figures compiled by the consumer watchdog.', 'Southern Water is asking for the biggest jump of 91%, according to the Consumer Council for Water (CCW), with South Staffordshire and Cambridge Water asking for the lowest rise of 24%.', 'Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas.', 'The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030.', ""Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure."", 'Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers.', 'The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half.', 'Mike Keil, chief executive of the CCW, said bill rises were ""going to come as a massive surprise to people"". ""', 'People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said.', 'Source: Consumer Council for Water Estimate are for average bills.', ""Costs will vary depending on a property's rateable value The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October."", ""The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target."", 'There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales.', 'The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems.', 'Katy Taylor, Southern Water’s chief customer officer, said the company shared ""everyone’s concerns about rising payments"", but added ""the water needs of our water-stressed region pose a unique set of challenges which require significant investment"".', 'She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"".', 'Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.', 'In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.', 'Macquarie points out that it has recently injected £500m of additional cash into Southern Water.', 'Water UK, which represents suppliers, said bill rises were ""never welcome"" and added that water companies were ""massively increasing the level of financial support they offer to customers who struggle to pay their bills"". ""', 'Ofwat is currently scrutinising these plans and will only allow investment that is new, necessary and value for money.', 'It will not allow water companies to spend money on anything for which they have already received funding,"" the industry body said.', 'Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December.', 'Water services are publicly owned in Northern Ireland and Scotland.']",0.0019415019538821,"She said the cash from higher bills would be used to ""reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment"".","Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure.",0.2631514200142452,"In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.","People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money,"" he said.",2024-05-21
+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.",2024-05-21
+US blocks imports from 26 Chinese textile firms over suspected Uyghur forced labor,https://edition.cnn.com/2024/05/17/business/us-blocks-imports-china-uyghur-forced-labor-ink-intl/index.html,"
+  Published
+        12:34 AM EDT, Fri May 17, 2024
+    ","Washington (Reuters) — The United States has barred imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the US supply chain.
+    
+            The companies are the latest additions to the Uyghur Forced Labor Prevention Act Entity List that restricts the import of goods tied to what the US government has characterized as an ongoing genocide of minorities in China’s Xinjiang region.
+    
+            US officials believe Chinese authorities have established labor camps for Uyghurs and other Muslim minority groups in China’s western Xinjiang region. Beijing denies any abuses.
+    
+            Many of the cotton companies listed are based outside of Xinjiang but source their cotton from the region, the US Department of Homeland Security said in a statement.
+    
+            The designations help “responsible companies conduct due diligence so that, together, we can keep the products of forced labor out of our country,” Alejandro Mayorkas, Secretary of Homeland Security, said in the statement.
+    
+            A spokesperson for the Chinese embassy in Washington criticized the move.
+    
+            “The so-called ‘Uyghur Forced Labor Prevention Act’ is just an instrument of a few US politicians to disrupt stability in Xinjiang and contain China’s development,” the spokesperson said.
+    
+            Washington has restricted imports from 65 entities since the Uyghur Forced Labor Prevention Act Entity List law was passed in 2021, according to the department.
+    
+            “We enthusiastically endorse DHS’s action today to nearly double the Uyghur Forced Labor Prevention Act’s ‘Entity List’ — while recognizing that the current list remains only a fraction of the businesses complicit in forced labor,” Representative Chris Smith and Senator Jeff Merkley, chairs of the bipartisan Congressional-Executive Commission on China, said in a statement.
+    
+            The lawmakers want DHS to blacklist Chinese companies in the polysilicon, aluminum, PVC and rayon industries and any company in other parts of Asia making goods for the US market with inputs sourced from Xinjiang.",CNN,17/05/2024,"['Washington (Reuters) — The United States has barred imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the US supply chain.', 'The companies are the latest additions to the Uyghur Forced Labor Prevention Act Entity List that restricts the import of goods tied to what the US government has characterized as an ongoing genocide of minorities in China’s Xinjiang region.', 'US officials believe Chinese authorities have established labor camps for Uyghurs and other Muslim minority groups in China’s western Xinjiang region.', 'Beijing denies any abuses.', 'Many of the cotton companies listed are based outside of Xinjiang but source their cotton from the region, the US Department of Homeland Security said in a statement.', 'The designations help “responsible companies conduct due diligence so that, together, we can keep the products of forced labor out of our country,” Alejandro Mayorkas, Secretary of Homeland Security, said in the statement.', 'A spokesperson for the Chinese embassy in Washington criticized the move.', '“The so-called ‘Uyghur Forced Labor Prevention Act’ is just an instrument of a few US politicians to disrupt stability in Xinjiang and contain China’s development,” the spokesperson said.', 'Washington has restricted imports from 65 entities since the Uyghur Forced Labor Prevention Act Entity List law was passed in 2021, according to the department.', '“We enthusiastically endorse DHS’s action today to nearly double the Uyghur Forced Labor Prevention Act’s ‘Entity List’ — while recognizing that the current list remains only a fraction of the businesses complicit in forced labor,” Representative Chris Smith and Senator Jeff Merkley, chairs of the bipartisan Congressional-Executive Commission on China, said in a statement.', 'The lawmakers want DHS to blacklist Chinese companies in the polysilicon, aluminum, PVC and rayon industries and any company in other parts of Asia making goods for the US market with inputs sourced from Xinjiang.']",-0.1724321265114111,"The designations help “responsible companies conduct due diligence so that, together, we can keep the products of forced labor out of our country,” Alejandro Mayorkas, Secretary of Homeland Security, said in the statement.",Beijing denies any abuses.,-0.2024945815404256,"“We enthusiastically endorse DHS’s action today to nearly double the Uyghur Forced Labor Prevention Act’s ‘Entity List’ — while recognizing that the current list remains only a fraction of the businesses complicit in forced labor,” Representative Chris Smith and Senator Jeff Merkley, chairs of the bipartisan Congressional-Executive Commission on China, said in a statement.",Washington (Reuters) — The United States has barred imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the US supply chain.,2024-05-21
+London: Diplomats owe more than £143m in congestion charges,https://www.bbc.co.uk/news/articles/ckrrnz2gn3po,2024-05-20T16:30:23.522Z,"Diplomats owe more than £143m to Transport for London (TfL) for unpaid congestion charges, figures reveal. The US Embassy owes the largest amount at almost £14m, the Embassy of Japan owes over £10.1m and meanwhile Togo owes £40. The figures from TfL relate to unpaid fees and fines accrued by diplomats between the launch of the congestion charge in 2003 and the end of last year. In a statement the American Embassy said it believed they were exempt from the charge claiming it is a tax. The scheme involves a £15 daily fee for driving within an area of central London between 07:00 and 18:00 on weekdays, and between noon and 18:00 on weekends and bank holidays. There are discounts and exemptions for various groups of people and vehicles, such as residents, taxis and fully electric cars. TfL said in a statement: ""We and the UK government are clear that the congestion charge is a charge for a service and not a tax. ""This means that diplomats are not exempt from paying it. ""The majority of embassies in London do pay the charge, but there remains a stubborn minority who refuse to do so, despite our representations through diplomatic channels. ""We will continue to pursue all unpaid congestion charge fees and related penalty charge notices, and are pushing for the matter to be taken up at the International Court of Justice.""  The Foreign Office said that they expects diplomats to pay the charge, adding that they believed that there was no legal grounds for diplomatic exemptions. A spokesperson for the US Embassy in London said: ""In accordance with international law as reflected in the 1961 Vienna Convention on Diplomatic Relations, our position is that the congestion charge is a tax from which diplomatic missions are exempt.   ""Our long-standing position is shared by many other diplomatic missions in London.” In February 2020, then-foreign secretary Dominic Raab issued a written ministerial statement revealing that his officials had written to ""a number of diplomatic missions and international organisations"" to ""press for payment"" of money owed relating to the congestion charge, parking fines and business rates. Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram. Send your story ideas to hello.bbclondon@bbc.co.uk ",BBC,20/05/2024,"['Diplomats owe more than £143m to Transport for London (TfL) for unpaid congestion charges, figures reveal.', 'The US Embassy owes the largest amount at almost £14m, the Embassy of Japan owes over £10.1m and meanwhile Togo owes £40.', 'The figures from TfL relate to unpaid fees and fines accrued by diplomats between the launch of the congestion charge in 2003 and the end of last year.', 'In a statement the American Embassy said it believed they were exempt from the charge claiming it is a tax.', 'The scheme involves a £15 daily fee for driving within an area of central London between 07:00 and 18:00 on weekdays, and between noon and 18:00 on weekends and bank holidays.', 'There are discounts and exemptions for various groups of people and vehicles, such as residents, taxis and fully electric cars.', 'TfL said in a statement: ""We and the UK government are clear that the congestion charge is a charge for a service and not a tax. ""', 'This means that diplomats are not exempt from paying it. ""', 'The majority of embassies in London do pay the charge, but there remains a stubborn minority who refuse to do so, despite our representations through diplomatic channels. ""', 'We will continue to pursue all unpaid congestion charge fees and related penalty charge notices, and are pushing for the matter to be taken up at the International Court of Justice.""', 'The Foreign Office said that they expects diplomats to pay the charge, adding that they believed that there was no legal grounds for diplomatic exemptions.', 'A spokesperson for the US Embassy in London said: ""In accordance with international law as reflected in the 1961 Vienna Convention on Diplomatic Relations, our position is that the congestion charge is a tax from which diplomatic missions are exempt. ""', 'Our long-standing position is shared by many other diplomatic missions in London.”', 'In February 2020, then-foreign secretary Dominic Raab issued a written ministerial statement revealing that his officials had written to ""a number of diplomatic missions and international organisations"" to ""press for payment"" of money owed relating to the congestion charge, parking fines and business rates.', 'Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram.', 'Send your story ideas to hello.bbclondon@bbc.co.uk']",0.0975821680803077,"Listen to the best of BBC Radio London on Sounds and follow BBC London on Facebook, X and Instagram.","The majority of embassies in London do pay the charge, but there remains a stubborn minority who refuse to do so, despite our representations through diplomatic channels. """,-0.6187453866004944,,"Diplomats owe more than £143m to Transport for London (TfL) for unpaid congestion charges, figures reveal.",2024-05-21
+"Ivan Boesky, famed trader in 1980s insider trading scandal, dies at 87",https://edition.cnn.com/2024/05/20/investing/ivan-boesky-dies-wall-street/index.html,"
+  Published
+        2:32 PM EDT, Mon May 20, 2024
+    ","Ivan Boesky, the infamous insider trader whose name became synonymous with financial greed and helped inspire the fictional character Gordon Gekko in the 1987 film “Wall Street,” has died at his home in the La Jolla neighborhood of San Diego. He was 87.
+    
+            His daughter, Marianne Boesky, confirmed to CNN on Monday that he died in his sleep.
+    
+            “A dedicated and loving father above all else. A beautiful soul who inspired me to work hard, care harder, and always remain curious,” read a caption on a Monday Instagram post by the account associated with Marianne Boesky’s art gallery.
+    
+            Boesky famously said in a 1986 commencement speech at the Haas School of Business at the University of California, Berkeley, that “greed is healthy,” inspiring in part to Gekko’s “greed is good” speech.
+    
+            Nicknamed “Ivan the Terrible” on a 1986 Time Magazine cover, Boesky profited from the corporate takeover boom in the 1980s, using insider information to receive advanced information on pending deals.
+    
+            When investigators began catching whiff of his activities, along with that of “junk bond king” Michael Milken, he agreed to cooperate with the federal government as they investigated insider trading on Wall Street, which had become a concern for the SEC by the early 1980s.
+    
+            He recorded calls and meetings, including with Milken, and taught investigators about stock manipulation, takeover bids and corporate raids, according to the SEC Historical Society.
+    
+            He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.
+    
+            Boesky was barred from securities trading for the rest of his life.
+    
+            The son of a delicatessen owner in Detroit, Boesky began his Wall Street career as a stock analyst at New York investment bank L.F. Rothschild after graduating from the Detroit College of Law in 1964. By 1975, he would open up his own brokerage firm, Ivan F. Boesky & Company, which his wife’s family helped finance. By the spring of 1985, he was reportedly the highest-paid broker on Wall Street with a net worth over $280 million (roughly $820 million in 2024).
+    
+            He is survived by his wife Ana, his five children and four grandchildren.",CNN,20/05/2024,"['Ivan Boesky, the infamous insider trader whose name became synonymous with financial greed and helped inspire the fictional character Gordon Gekko in the 1987 film “Wall Street,” has died at his home in the La Jolla neighborhood of San Diego.', 'He was 87.', 'His daughter, Marianne Boesky, confirmed to CNN on Monday that he died in his sleep.', '“A dedicated and loving father above all else.', 'A beautiful soul who inspired me to work hard, care harder, and always remain curious,” read a caption on a Monday Instagram post by the account associated with Marianne Boesky’s art gallery.', 'Boesky famously said in a 1986 commencement speech at the Haas School of Business at the University of California, Berkeley, that “greed is healthy,” inspiring in part to Gekko’s “greed is good” speech.', 'Nicknamed “Ivan the Terrible” on a 1986 Time Magazine cover, Boesky profited from the corporate takeover boom in the 1980s, using insider information to receive advanced information on pending deals.', 'When investigators began catching whiff of his activities, along with that of “junk bond king” Michael Milken, he agreed to cooperate with the federal government as they investigated insider trading on Wall Street, which had become a concern for the SEC by the early 1980s.', 'He recorded calls and meetings, including with Milken, and taught investigators about stock manipulation, takeover bids and corporate raids, according to the SEC Historical Society.', 'He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.', 'Boesky was barred from securities trading for the rest of his life.', 'The son of a delicatessen owner in Detroit, Boesky began his Wall Street career as a stock analyst at New York investment bank L.F. Rothschild after graduating from the Detroit College of Law in 1964.', 'By 1975, he would open up his own brokerage firm, Ivan F. Boesky & Company, which his wife’s family helped finance.', 'By the spring of 1985, he was reportedly the highest-paid broker on Wall Street with a net worth over $280 million (roughly $820 million in 2024).', 'He is survived by his wife Ana, his five children and four grandchildren.']",0.1086546545324258,"A beautiful soul who inspired me to work hard, care harder, and always remain curious,” read a caption on a Monday Instagram post by the account associated with Marianne Boesky’s art gallery.","He pleaded guilty in 1986 to insider trading and was sentenced to three years of prison and fined $100 million, half of which went to returning the profits he made from insider trading and the other half as a civil penalty.",0.9994584918022156,"Boesky famously said in a 1986 commencement speech at the Haas School of Business at the University of California, Berkeley, that “greed is healthy,” inspiring in part to Gekko’s “greed is good” speech.",,2024-05-21
+Vox launches subscription program as news publishers race to diversify revenue streams,https://edition.cnn.com/2024/05/20/media/vox-relaunch-reliable-sources/index.html,"
+  Updated
+        10:30 PM EDT, Mon May 20, 2024
+    ","Vox is preparing to celebrate its 10th birthday — making a major change to its business model that reflects how digital news publishers are scrambling to evolve as they are increasingly starved of referral traffic and advertising revenue.
+    
+            Not only will Vox debut a refreshed website on Tuesday morning to mark its 10th trip around the sun (fear not, the trademark yellow is not going away), it will also launch a membership program, its executives told CNN Monday, as the digital publisher becomes the latest news outlet to lean into subscriptions to diversify and grow its revenue stream.
+    
+            The subscription program — which will cost $5 a month, or $50 a year — will give members access to an array of exclusive content, including newsletters, a digital magazine, a monthly bonus episode of “The Highlight Podcast,” live virtual tapings of audio programs, interactive video interviews, and more.
+    
+            “It is so incredibly important to diversify our revenue and business model,” Swati Sharma, the editor-in-chief and publisher of Vox, told CNN by phone Monday. “We have to be strategic.”
+    
+            While the site and its suite of content will continue to remain free to readers, its new members-only program is additive to Vox’s existing content and will be the only programming behind a paywall. The outlet will count the revenue it earns from subscriptions as an added stream, with the publisher opting for a hybrid model consisting of multiple forms of revenue, including advertising and grants.
+    
+            Sharma said that building a members-only tier for Vox’s loyal fans was the natural step after finding success soliciting reader donations, which the outlet has done since 2020. In those four years, it has received more than 100,000 contributions, Vox Media’s consumer revenue chief Priyanka Arya told CNN.
+    
+            Now, with members-only benefits aimed at enticing subscribers, coupled with the hiring of Bill Carey as executive director of memberships, the digital publication is hoping to strengthen its relationship with readers.
+    
+            “We are taking a bet on people caring about news organizations,” Sharma told me. “But I think that it’s a bet worth taking.”
+    
+            The move could not come at a more critical juncture. News publishers are navigating challenging terrain, and most have been forced to undergo painful layoffs in recent years, including Vox. The stormy seas have been made even tougher by the rapid advancement and deployment of artificial intelligence. Not only has Meta turned its back on news publishers, but Google, which so many outlets have become quite dependent on, announced last week it will infuse its dominant search engine with A.I. That move has prompted alarm over the possibility referral traffic to news outlets will slow to a trickle.
+    
+            “It worries me, and it should worry everyone in journalism,” Sharma said.
+    
+            The daunting circumstance has made establishing direct pipelines between news outlets and audiences more important than ever. Which is likely why so many major newsrooms have signaled they will, in one way or another, wade into creating and/or bolstering subscription models that include members-only content to supplement other revenue streams.
+    
+            Looking ahead to its next decade, Sharma told me she wants to see Vox identify solutions to some of the biggest problems plaguing the world, expanding on its coverage of issues ranging from climate change to gun violence to loneliness. Sharma emphasized that while it is important to cover such paramount issues, it is equally important to offer readers a way to walk away empowered with steps they can take to help improve society.
+    
+            “Vox was such an incredible bet to make,” Sharma said. “It was offering something very specific at that time, which still resonates … Vox pioneered the explainer format and that is everywhere today.”
+    
+            “We’ve explained the news,” Sharma added. “The next step is shaping the world.”",CNN,20/05/2024,"['Voxis preparing to celebrate its 10th birthday — making a major change to its business model that reflects how digital news publishers are scrambling to evolve as they are increasingly starved of referral traffic and advertising revenue.', 'Not only will Vox debut a refreshed website on Tuesday morning to mark its 10th trip around the sun (fear not, the trademark yellow is not going away), it will also launch a membership program, its executives told CNN Monday, as the digital publisher becomes the latest news outlet to lean into subscriptions to diversify and grow its revenue stream.', 'The subscription program — which will cost $5 a month, or $50 a year — will give members access to an array of exclusive content, including newsletters, a digital magazine, a monthly bonus episode of “The Highlight Podcast,” live virtual tapings of audio programs, interactive video interviews, and more.', '“It is so incredibly important to diversify our revenue and business model,”Swati Sharma, the editor-in-chief and publisher of Vox, told CNN by phone Monday. “', 'We have to be strategic.”', 'While the site and its suite of content will continue to remain free to readers, its new members-only program is additive to Vox’s existing content and will be the only programming behind a paywall.', 'The outlet will count the revenue it earns from subscriptions as an added stream, with the publisher opting for a hybrid model consisting of multiple forms of revenue, including advertising and grants.', 'Sharma said that building a members-only tier for Vox’s loyal fans was the natural step after finding success soliciting reader donations, which the outlet has done since 2020.', 'In those four years, it has received more than 100,000 contributions,Vox Media’sconsumer revenue chiefPriyanka Aryatold CNN.', 'Now, with members-only benefits aimed at enticing subscribers, coupled with the hiring ofBill Careyas executive director of memberships, the digital publication is hoping to strengthen its relationship with readers.', '“We are taking a bet on people caring about news organizations,” Sharma told me. “', 'But I think that it’s a bet worth taking.”', 'The move could not come at a more critical juncture.', 'News publishers are navigating challenging terrain, and most have been forced to undergo painful layoffs in recent years, including Vox.', 'The stormy seas have been made even tougher by the rapid advancement and deployment of artificial intelligence.', 'Not only hasMetaturned its back on news publishers, butGoogle, which so many outlets have become quite dependent on, announced last week it will infuse its dominant search engine with A.I. That move hasprompted alarmover the possibility referral traffic to news outlets will slow to a trickle.', '“It worries me, and it should worry everyone in journalism,” Sharma said.', 'The daunting circumstance has made establishing direct pipelines between news outlets and audiences more important than ever.', 'Which is likely why so many major newsrooms have signaled they will, in one way or another, wade into creating and/or bolstering subscription models that include members-only content to supplement other revenue streams.', 'Looking ahead to its next decade, Sharma told me she wants to see Vox identify solutions to some of the biggest problems plaguing the world, expanding on its coverage of issues ranging from climate change to gun violence to loneliness.', 'Sharma emphasized that while it is important to cover such paramount issues, it is equally important to offer readers a way to walk away empowered with steps they can take to help improve society.', '“Vox was such an incredible bet to make,” Sharma said. “', 'It was offering something very specific at that time, which still resonates … Vox pioneered the explainer format and that is everywhere today.”', '“We’ve explained the news,” Sharma added. “', 'The next step is shaping the world.”']",0.1249494793535151,"Sharma said that building a members-only tier for Vox’s loyal fans was the natural step after finding success soliciting reader donations, which the outlet has done since 2020.","Looking ahead to its next decade, Sharma told me she wants to see Vox identify solutions to some of the biggest problems plaguing the world, expanding on its coverage of issues ranging from climate change to gun violence to loneliness.",0.3405313849449157,"Now, with members-only benefits aimed at enticing subscribers, coupled with the hiring ofBill Careyas executive director of memberships, the digital publication is hoping to strengthen its relationship with readers.","Not only hasMetaturned its back on news publishers, butGoogle, which so many outlets have become quite dependent on, announced last week it will infuse its dominant search engine with A.I. That move hasprompted alarmover the possibility referral traffic to news outlets will slow to a trickle.",2024-05-21
+Microsoft asks some employees in China to move to other countries,https://edition.cnn.com/2024/05/16/tech/microsoft-china-employees-relocate-hnk-intl/index.html,"
+  Updated
+        11:26 PM EDT, Thu May 16, 2024
+    ","Microsoft has asked at least 100 of its employees in China to consider moving to other countries, according to Chinese state media reports.
+    
+            The reports come as relations between Beijing and Washington deteriorate over technologies like artificial intelligence (AI) and clean energy.
+    
+            Microsoft employees, mostly involved with cloud computing, were recently offered the opportunity to work in the United States, Australia or Ireland, among other countries, state-run outlet The Paper said in a report Wednesday, citing an unnamed source.
+    
+            “Providing internal opportunities is a regular part of managing our global business. As part of this process, we shared an optional internal transfer opportunity with a subset of employees,” a Microsoft spokesperson told CNN on Thursday. It did not specify the number of workers who had received the offer.
+    
+            The Wall Street Journal reported Thursday that Microsoft asked as many as 800 employees, mostly engineers with Chinese nationality working on cloud computing and AI, to consider relocating. The Journal, which cited unnamed sources, reported last year that the Biden administration was preparing to restrict Chinese firms’ access to US cloud services.
+    
+            The company entered China in 1992 and for decades has counted on its well-known Beijing-based research lab, Microsoft Research Lab Asia, to help it build influence.
+    
+            “Everyone is confused,” an employee told the Paper, as the affected staff has been given less than a month to decide.
+    
+            Yicai, a Chinese state-owned financial media outlet, wrote that more than 100 employees were affected. It added that people had the option not to move.
+    
+            The reports come in the same week President Joe Biden announced tariffs on $18 billion worth of imports of Chinese electric vehicles and an array of other products. Biden said he was trying to prevent unfair competition from China decimating US industries.
+    
+            The tech war between the two economic superpowers has been intensifying for years. In October, the Biden administration limited the types of semiconductors that American companies can sell to China.
+    
+            In recent months, the United States has also enlisted its allies in Europe and Asia in restricting sales of advanced chipmaking equipment to China.
+    
+            Beijing has hit back by imposing its own curbs on exports of germanium and gallium, two elements essential for making semiconductors.",CNN,16/05/2024,"['Microsoft has asked at least 100 of its employees in China to consider moving to other countries, according to Chinese state media reports.', 'The reports come as relations between Beijing and Washington deteriorate over technologies like artificial intelligence (AI) and clean energy.', 'Microsoft employees, mostly involved with cloud computing, were recently offered the opportunity to work in the United States, Australia or Ireland, among other countries, state-run outlet The Paper said in a report Wednesday, citing an unnamed source.', '“Providing internal opportunities is a regular part of managing our global business.', 'As part of this process, we shared an optional internal transfer opportunity with a subset of employees,” a Microsoft spokesperson told CNN on Thursday.', 'It did not specify the number of workers who had received the offer.', 'The Wall Street Journal reported Thursday that Microsoft asked as many as 800 employees, mostly engineers with Chinese nationality working on cloud computing and AI, to consider relocating.', 'The Journal, which cited unnamed sources, reported last year that the Biden administration was preparing to restrict Chinese firms’ access to US cloud services.', 'The company entered China in 1992 and for decades has counted on its well-known Beijing-based research lab, Microsoft Research Lab Asia, to help it build influence.', '“Everyone is confused,” an employee told the Paper, as the affected staff has been given less than a month to decide.', 'Yicai, a Chinese state-owned financial media outlet, wrote that more than 100 employees were affected.', 'It added that people had the option not to move.', 'The reports come in the same week President Joe Bidenannounced tariffs on $18 billion worth of imports of Chinese electric vehicles and an array of other products.', 'Biden said he was trying to prevent unfair competition from China decimating US industries.', 'The tech war between the two economic superpowers has been intensifying for years.', 'In October, the Biden administration limited the types of semiconductors that American companies can sell to China.', 'In recent months, the United States has also enlisted its allies inEuropeandAsiain restricting sales of advanced chipmaking equipment to China.', 'Beijing hashit backby imposing its own curbs on exports of germanium and gallium, two elements essential for making semiconductors.']",0.0690812979440515,The reports come as relations between Beijing and Washington deteriorate over technologies like artificial intelligence (AI) and clean energy.,The tech war between the two economic superpowers has been intensifying for years.,-0.8734054684638977,,The reports come as relations between Beijing and Washington deteriorate over technologies like artificial intelligence (AI) and clean energy.,2024-05-21
+Nestlé is releasing a lineup of frozen food for people on Ozempic and other GLP-1 drugs,https://edition.cnn.com/2024/05/21/food/nestle-glp-1-food-vital-proteins/index.html,"
+  Published
+        7:00 AM EDT, Tue May 21, 2024
+    ","Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss.
+    
+            The new frozen food brand called Vital Pursuit will consist of 12 portion-controlled meals, high in protein plus fiber, “intended to be a companion for GLP-1 weight loss medication users and consumers focused on weight management,” the company announced Tuesday.
+    
+            It’s the first brand from Nestlé specifically for people on drugs like Ozempic and Wegovy, joining other companies in expanding to cash in and remain relevant. J.P. Morgan predicts that obesity medication will soon be a $100 billion market and sees about 9% of the US population being on a weight-loss drug by 2030.
+    
+            The long-term effects of GLP-1s — or glucagon-like peptide 1 agonists — on people’s health remains unclear. However, a recent study on Wagovy significantly reduced heart risk in addition to helping with weight loss. The results showed that the average weight loss for people using the medication was sustained for up to 208 weeks, or four years.
+    
+            The drugs have changed the way people eat, both in portion sizes and frequency, according to the company. Nestlé North America CEO Steve Presley said in a press release that Vital Pursuit “provides accessible, great-tasting food options that support the needs of consumers in this emerging category.”
+    
+            A full lineup of Vital Pursuit options was not immediately released, but it will hit grocery stores later this year with a suggested price of $4.99 or less. The meals are made with whole grains or protein pasta and consist of sandwich melts, pizzas and bowls, enriched in nutrients like potassium, calcium and iron that the prescription drug users might miss from eating less food overall.
+    
+            Adding a brand like this to Nestlé’s portfolio for consumer brands makes sense, according to Neil Saunders, retail analyst and managing director at GlobalData Retail, especially since GLP-1 drugs could be “disruptive” to food manufacturers.
+    
+            Nestlé also sells Lean Cuisine, a diet-focused frozen food brand launched more than 40 years ago to attract calorie-counting customers, but it’s “seen as old-school” by customers, Saunders told CNN.
+    
+            “The new brand is positioned as a much more scientific approach with an emphasis on nutrition and balance,” he said. “Nestlé is hoping to gain new customers and widen its audience.”
+    
+            The sudden rise of GLP-1 drugs is also seen as an opportunity by other companies, like GNC, a once-bankrupt chain that sells vitamins and nutritional supplements. Last month, the retailer announced that it was adding a dedicated section in its US stores with vitamins, protein shakes and supplements tailored to people on GLP-1 medications.
+    
+            Costco has started offering Ozempic at its US pharmacies through its low-cost health care partner Sesame. The program, launched in April, includes a video consultation with a weight loss doctor or specialist, a GLP-1 or weight loss prescription, if appropriate, and ongoing support through unlimited messaging and guidance with a health care provider.
+    
+            WeightWatchers launched a membership plan for people that gives members access to doctors who can prescribe these medications. It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate.
+    
+            Gyms are also adjusting their strategies as more of their members take medications for weight loss. Luxury gyms, such as Life Time, are acquiring weight loss clinics with doctors who can prescribe GLP-1s, while Equinox debuted a personal training program for members taking GLP-1s to preserve muscle mass.
+    
+            Food companies, like Nestlé, are also bracing for GLP-1 consumers to buy fewer sugary snacks and drinks. J.P. Morgan last year said that current GLP-1 users purchased around 8% less food — including snacks, soft drinks and high-carb products — over the prior year, compared with consumers who were not on these drugs.
+    
+            Vital Pursuit “sends a signal to investors and stakeholders that Nestlé is looking at weight-loss drugs and is responding to the opportunity,” Saunders said.
+    
+            CNN’s Nathaniel Meyersohn contributed to this report.",CNN,21/05/2024,"['Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss.', 'The new frozen food brand called Vital Pursuit will consist of 12 portion-controlled meals, high in protein plus fiber, “intended to be a companion for GLP-1 weight loss medication users and consumers focused on weight management,” the company announced Tuesday.', 'It’s the first brand from Nestlé specifically for people on drugs like Ozempic and Wegovy, joining other companies in expanding to cash in and remain relevant.', 'J.P. Morgan predicts that obesity medication will soon be a $100 billion market and sees about 9% of the US population being on a weight-loss drug by 2030.', 'The long-term effects of GLP-1s — or glucagon-like peptide 1 agonists — on people’s health remains unclear.', 'However, a recent study on Wagovy significantly reduced heart risk in addition to helping with weight loss.', 'The results showed that the average weight loss for people using the medication was sustained for up to 208 weeks, or four years.', 'The drugs have changed the way people eat, both in portion sizes and frequency, according to the company.', 'Nestlé North America CEO Steve Presley said in a press release that Vital Pursuit “provides accessible, great-tasting food options that support the needs of consumers in this emerging category.”', 'A full lineup of Vital Pursuit options was not immediately released, but it will hit grocery stores later this year with a suggested price of $4.99 or less.', 'The meals are made with whole grains or protein pasta and consist of sandwich melts, pizzas and bowls, enriched in nutrients like potassium, calcium and iron that the prescription drug users might miss from eating less food overall.', 'Adding a brand like this to Nestlé’s portfolio for consumer brands makes sense, according to Neil Saunders, retail analyst and managing director at GlobalData Retail, especially since GLP-1 drugs could be “disruptive” to food manufacturers.', 'Nestlé also sells Lean Cuisine, a diet-focused frozen food brand launched more than 40 years ago to attract calorie-counting customers, but it’s “seen as old-school” by customers, Saunders told CNN.', '“The new brand is positioned as a much more scientific approach with an emphasis on nutrition and balance,” he said. “', 'Nestlé is hoping to gain new customers and widen its audience.”', 'The sudden rise of GLP-1 drugs is also seen as an opportunity by other companies, like GNC, a once-bankrupt chain that sells vitamins and nutritional supplements.', 'Last month, the retailer announced that it was adding a dedicated section in its US stores with vitamins, protein shakes and supplements tailored to people on GLP-1 medications.', 'Costco has started offering Ozempic at its US pharmacies through its low-cost health care partner Sesame.', 'The program, launched in April, includes a video consultation with a weight loss doctor or specialist, a GLP-1 or weight loss prescription, if appropriate, and ongoing support through unlimited messaging and guidance with a health care provider.', 'WeightWatcherslaunched a membership planfor people that gives members access to doctors who can prescribe these medications.', 'It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate.', 'Gyms are also adjusting their strategies as more of their members takemedicationsfor weight loss.', 'Luxury gyms, such as Life Time, are acquiring weight loss clinics with doctors who can prescribe GLP-1s, while Equinox debuted a personal training program for members taking GLP-1s to preserve muscle mass.', 'Food companies, like Nestlé, are also bracing for GLP-1 consumers to buy fewer sugary snacks and drinks.', 'J.P. Morgan last year said that current GLP-1 users purchased around 8% less food — including snacks, soft drinks and high-carb products — over the prior year, compared with consumers who were not on these drugs.', 'Vital Pursuit “sends a signal to investors and stakeholders that Nestlé is looking at weight-loss drugs and is responding to the opportunity,” Saunders said.', 'CNN’s Nathaniel Meyersohn contributed to this report.']",0.1310054685775712,"Nestlé North America CEO Steve Presley said in a press release that Vital Pursuit “provides accessible, great-tasting food options that support the needs of consumers in this emerging category.”",J.P. Morgan predicts that obesity medication will soon be a $100 billion market and sees about 9% of the US population being on a weight-loss drug by 2030.,0.7751939730210737,Nestlé is hoping to gain new customers and widen its audience.”,"J.P. Morgan last year said that current GLP-1 users purchased around 8% less food — including snacks, soft drinks and high-carb products — over the prior year, compared with consumers who were not on these drugs.",2024-05-21
+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.",2024-05-21
+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.",2024-05-21
+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.,,2024-05-21
+British engineering giant Arup revealed as $25 million deepfake scam victim,https://edition.cnn.com/2024/05/16/tech/arup-deepfake-scam-loss-hong-kong-intl-hnk/index.html,"
+  Updated
+        4:53 AM EDT, Fri May 17, 2024
+    ","A British multinational design and engineering company behind world-famous buildings such as the Sydney Opera House has confirmed that it was the target of a deepfake scam that led to one of its Hong Kong employees paying out $25 million to fraudsters.
+    
+            A spokesperson for London-based Arup told CNN on Friday that it notified Hong Kong police in January about the fraud incident, and confirmed that fake voices and images were used.
+    
+            “Unfortunately, we can’t go into details at this stage as the incident is still the subject of an ongoing investigation. However, we can confirm that fake voices and images were used,” the spokesperson said in an emailed statement.
+    
+            “Our financial stability and business operations were not affected and none of our internal systems were compromised,” the person added.
+    
+            Hong Kong police said in February that during the elaborate scam the employee, a finance worker, was duped into attending a video call with people he believed were the chief financial officer and other members of staff, but all of whom turned out to be deepfake re-creations. The authorities did not name the company or parties involved at the time.
+    
+            According to police, the worker had initially suspected he had received a phishing email from the company’s UK office, as it specified the need for a secret transaction to be carried out. However, the worker put aside his doubts after the video call because other people in attendance had looked and sounded just like colleagues he recognized.
+    
+            He subsequently agreed to send a total of 200 million Hong Kong dollars — about $25.6 million. The amount was sent across 15 transactions, Hong Kong public broadcaster RTHK reported, citing police.
+    
+            “Deepfake” normally refers to fake videos that have been created using artificial intelligence (AI) and look extremely realistic.
+    
+            Earlier this year, pornographic AI-generated images of pop star Taylor Swift spread across social media, underscoring the damaging potential posed by AI technology.
+    
+            As a top engineering consulting firm, Arup has 18,500 employees across 34 offices around the world. It was responsible for landmarks such as the Bird’s Nest stadium, site of the 2008 Beijing Olympic Games.
+    
+            “Like many other businesses around the globe, our operations are subject to regular attacks, including invoice fraud, phishing scams, WhatsApp voice spoofing, and deepfakes. What we have seen is that the number and sophistication of these attacks has been rising sharply in recent months,” Rob Greig, Arup’s global chief information officer, said in the emailed statement.
+    
+            Authorities around the world are growing increasingly concerned about the sophistication of deepfake technology and the nefarious uses it can be put to.
+    
+            In an internal memo seen by CNN, Arup’s East Asia regional chairman, Michael Kwok, said the “frequency and sophistication of these attacks are rapidly increasing globally, and we all have a duty to stay informed and alert about how to spot different techniques used by scammers.”
+    
+            Kwok returned to the role earlier this month, replacing Andy Lee, who announced his departure from Arup on his LinkedIn page about a week ago after 26 years at the company.
+    
+            This story has been updated with additional information.",CNN,17/05/2024,"['A British multinational design and engineering company behind world-famous buildings such as the Sydney Opera House has confirmed that it was the target of a deepfake scam that led to one of its Hong Kong employees paying out $25 million to fraudsters.', 'A spokesperson for London-based Arup told CNN on Friday that it notified Hong Kong police in January about the fraud incident, and confirmed that fake voices and images were used.', '“Unfortunately, we can’t go into details at this stage as the incident is still the subject of an ongoing investigation.', 'However, we can confirm that fake voices and images were used,” the spokesperson said in an emailed statement.', '“Our financial stability and business operations were not affected and none of our internal systems were compromised,” the person added.', 'Hong Kong police said in February that during the elaborate scam the employee, a finance worker, was duped into attending a video call with people he believed were the chief financial officer and other members of staff, but all of whom turned out to be deepfake re-creations.', 'The authorities did not name the company or parties involved at the time.', 'According to police, the worker had initially suspected he had received a phishing email from the company’s UK office, as it specified the need for a secret transaction to be carried out.', 'However, the worker put aside his doubts after the video call because other people in attendance had looked and sounded just like colleagues he recognized.', 'He subsequently agreed to send a total of 200 million Hong Kong dollars — about $25.6 million.', 'The amount was sent across 15 transactions, Hong Kong public broadcaster RTHK reported, citing police.', '“Deepfake” normally refers to fake videos that have been created using artificial intelligence (AI) and look extremely realistic.', 'Earlier this year, pornographic AI-generated images of pop starTaylor Swiftspread across social media, underscoring the damaging potential posed by AI technology.', 'As a top engineering consulting firm, Arup has 18,500 employees across 34 offices around the world.', 'It was responsible for landmarks such as the Bird’s Nest stadium, site of the 2008 Beijing Olympic Games.', '“Like many other businesses around the globe, our operations are subject to regular attacks, including invoice fraud, phishing scams, WhatsApp voice spoofing, and deepfakes.', 'What we have seen is that the number and sophistication of these attacks has been rising sharply in recent months,” Rob Greig, Arup’s global chief information officer, said in the emailed statement.', 'Authorities around the world are growing increasingly concerned about the sophistication of deepfake technology and the nefarious uses it can be put to.', 'In an internal memo seen by CNN, Arup’s East Asia regional chairman, Michael Kwok, said the “frequency and sophistication of these attacks are rapidly increasing globally, and we all have a duty to stay informed and alert about how to spot different techniques used by scammers.”', 'Kwok returned to the role earlier this month, replacing Andy Lee, who announced his departure from Arup on his LinkedIn page about a week ago after 26 years at the company.', 'This story has been updated with additional information.']",-0.1444921112736466,The authorities did not name the company or parties involved at the time.,"“Like many other businesses around the globe, our operations are subject to regular attacks, including invoice fraud, phishing scams, WhatsApp voice spoofing, and deepfakes.",-0.2922703176736831,"What we have seen is that the number and sophistication of these attacks has been rising sharply in recent months,” Rob Greig, Arup’s global chief information officer, said in the emailed statement.","Earlier this year, pornographic AI-generated images of pop starTaylor Swiftspread across social media, underscoring the damaging potential posed by AI technology.",2024-05-21
+Electricity grids creak as AI demands soar,https://www.bbc.co.uk/news/articles/cj5ll89dy2mo,2024-05-21T01:03:48.722Z,"There’s a big problem with generative AI, says Sasha Luccioni at Hugging Face, a machine-learning company. Generative AI is an energy hog. “Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says. Take the Large Language Models (LLMs) at the heart of many Generative AI systems. They have been trained on vast stores of written information, which helps them to churn out text in response to practically any query. “When you use Generative AI… it’s generating content from scratch, it’s essentially making up answers,” Dr Luccioni explains. That means the computer has to work pretty hard. A Generative AI system might use around 33 times more energy than machines running task-specific software, according to a recent study by Dr Luccioni and colleagues. The work has been peer-reviewed but is yet to be published in a journal. It’s not your personal computer that uses all this energy, though. Or your smartphone. The computations we increasingly rely on happen in giant data centres that are, for most people, out of sight and out of mind. “The cloud,” says Dr Luccioni. “You don’t think about these huge boxes of metal that heat up and use so much energy.” The world’s data centres are using ever more electricity. In 2022, they gobbled up 460 terawatt hours of electricity, and the International Energy Agency (IEA) expects this to double in just four years. Data centres could be using a total of 1,000 terawatts hours annually by 2026. “This demand is roughly equivalent to the electricity consumption of Japan,” says the IEA. Japan has a population of 125 million people. At data centres, huge volumes of information are stored for retrieval anywhere in the world – everything from your emails to Hollywood movies. The computers in those faceless buildings also power AI and cryptocurrency. They underpin life as we know it. But some countries know all too well how energy hungry these facilities are. There is currently a moratorium preventing the construction of new data centres in Dublin. Nearly a fifth of Ireland’s electricity is used up by data centres, and this figure is expected to grow significantly in the next few years – meanwhile Irish households are reducing their consumption. The boss of National Grid said in a speech in March that data centre electricity demand in the UK will rise six-fold in just 10 years, fuelled largely by the rise of AI. National Grid expects that the energy required for electrifying transport and heat will be much larger in total, however. Utilities firms in the US are beginning to feel the pressure, says Chris Seiple at Wood Mackenzie, a consultancy. “They’re getting hit with data centre demands at the exact same time as we have a renaissance taking place – thanks to government policy – in domestic manufacturing,” he explains. Lawmakers in some states are now rethinking tax breaks offered to data centre developers because of the sheer strain these facilities are putting on local energy infrastructure, according to reports in the US. Mr Seiple says there is a “land grab” going on for data centre locations near to power stations or renewable energy hubs: “Iowa is a hotbed of data centre development, there’s a lot of wind generation there.” Some data centres can afford to go to more remote locations these days because latency – the delay, usually measured in milliseconds, between sending information out from a data centre and the user receiving it – is not a major concern for increasingly popular Generative AI systems. In the past, data centres handling emergency communications or financial trading algorithms, for example, have been sited within or very near to large population centres, for the absolute best response times. There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple. Part of that uncertainty is down to the fact that the hardware behind generative AI is evolving all the time. Tony Grayson is general manager at Compass Quantum, a data-centre business, and he points to Nvidia’s recently launched Grace Blackwell supercomputer chips (named after a computer scientist and a mathematician), which are designed specifically to power high-end processes including generative AI, quantum computing and computer-aided drug design. Nvidia says that, in the future, a company could train AIs several times larger than the largest AI systems currently available in 90 days using 8,000 of the previous generation of Nvidia chips. This would need a 15 megawatt electricity supply. But the same work could be carried out in the same time by just 2,000 Grace Blackwell chips, and they would need a four megawatt supply, according to Nvidia. That still ends up as 8.6 gigawatt hours of electricity consumed – roughly the same amount that the entire city of Belfast uses in a week. “The performance is going up so much that your overall energy savings are big,” says Mr Grayson. But he agrees that power demands are shaping where data centre operators site their facilities: “People are going to where cheap power’s at.” Dr Luccioni notes that the energy and resources required to manufacture the latest computer chips are significant. Still, it is true that data centres have got more energy efficient over time, argues Dale Sartor, a consultant and affiliate of Lawrence Berkeley National Laboratory in the US. Their efficiency is often measured in terms of power usage effectiveness, or PUE. The lower the number, the better. State-of-the-art data centres have a PUE of around 1.1, he notes. These facilities do still create significant amounts of waste heat and Europe is ahead of the US in finding ways of using that waste heat – such as warming up swimming pools – says Mr Sartor. Bruce Owen, UK managing director at Equinix, a data centre firm, says, “I still think that the demand is going to grow further than that efficiency gain that we see.” He predicts that more data centres will be built with on-site power-generating facilities included. Equinix was denied planning permission for a gas-powered data centre in Dublin last year. Mr Sartor adds that costs may ultimately determine whether Generative AI is worth it for certain applications: “If the old way is cheaper and easier then there’s not going to be much of a market for the new way.” Dr Luccioni stresses, though, that people will need to clearly understand how the options in front of them differ in terms of energy efficiency. She is working on a project to develop energy ratings for AI. “Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says. ",BBC,21/05/2024,"['There’s a big problem with generative AI, says Sasha Luccioni at Hugging Face, a machine-learning company.', 'Generative AI is an energy hog. “', 'Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says.', 'Take the Large Language Models (LLMs) at the heart of many Generative AI systems.', 'They have been trained on vast stores of written information, which helps them to churn out text in response to practically any query. “', 'When you use Generative AI… it’s generating content from scratch, it’s essentially making up answers,” Dr Luccioni explains.', 'That means the computer has to work pretty hard.', 'A Generative AI system might use around 33 times more energy than machines running task-specific software, according to a recent study by Dr Luccioni and colleagues.', 'The work has been peer-reviewed but is yet to be published in a journal.', 'It’s not your personal computer that uses all this energy, though.', 'Or your smartphone.', 'The computations we increasingly rely on happen in giant data centres that are, for most people, out of sight and out of mind. “', 'The cloud,” says Dr Luccioni. “', 'You don’t think about these huge boxes of metal that heat up and use so much energy.”', 'The world’s data centres are using ever more electricity.', 'In 2022, they gobbled up 460 terawatt hours of electricity, and the International Energy Agency (IEA) expects this to double in just four years.', 'Data centres could be using a total of 1,000 terawatts hours annually by 2026. “', 'This demand is roughly equivalent to the electricity consumption of Japan,” says the IEA.', 'Japan has a population of 125 million people.', 'At data centres, huge volumes of information are stored for retrieval anywhere in the world – everything from your emails to Hollywood movies.', 'The computers in those faceless buildings also power AI and cryptocurrency.', 'They underpin life as we know it.', 'But some countries know all too well how energy hungry these facilities are.', 'There is currently a moratorium preventing the construction of new data centres in Dublin.', 'Nearly a fifth of Ireland’s electricity is used up by data centres, and this figure is expected to grow significantly in the next few years – meanwhile Irish households are reducing their consumption.', 'The boss of National Grid said in a speech in March that data centre electricity demand in the UK will rise six-fold in just 10 years, fuelled largely by the rise of AI.', 'National Grid expects that the energy required for electrifying transport and heat will be much larger in total, however.', 'Utilities firms in the US are beginning to feel the pressure, says Chris Seiple at Wood Mackenzie, a consultancy. “', 'They’re getting hit with data centre demands at the exact same time as we have a renaissance taking place – thanks to government policy – in domestic manufacturing,” he explains.', 'Lawmakers in some states are now rethinking tax breaks offered to data centre developers because of the sheer strain these facilities are putting on local energy infrastructure, according to reports in the US.', 'Mr Seiple says there is a “land grab” going on for data centre locations near to power stations or renewable energy hubs: “Iowa is a hotbed of data centre development, there’s a lot of wind generation there.”', 'Some data centres can afford to go to more remote locations these days because latency – the delay, usually measured in milliseconds, between sending information out from a data centre and the user receiving it – is not a major concern for increasingly popular Generative AI systems.', 'In the past, data centres handling emergency communications or financial trading algorithms, for example, have been sited within or very near to large population centres, for the absolute best response times.', 'There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple.', 'Part of that uncertainty is down to the fact that the hardware behind generative AI is evolving all the time.', 'Tony Grayson is general manager at Compass Quantum, a data-centre business, and he points to Nvidia’s recently launched Grace Blackwell supercomputer chips (named after a computer scientist and a mathematician), which are designed specifically to power high-end processes including generative AI, quantum computing and computer-aided drug design.', 'Nvidia says that, in the future, a company could train AIs several times larger than the largest AI systems currently available in 90 days using 8,000 of the previous generation of Nvidia chips.', 'This would need a 15 megawatt electricity supply.', 'But the same work could be carried out in the same time by just 2,000 Grace Blackwell chips, and they would need a four megawatt supply, according to Nvidia.', 'That still ends up as 8.6 gigawatt hours of electricity consumed – roughly the same amount that the entire city of Belfast uses in a week. “', 'The performance is going up so much that your overall energy savings are big,” says Mr Grayson.', 'But he agrees that power demands are shaping where data centre operators site their facilities: “People are going to where cheap power’s at.”', 'Dr Luccioni notes that the energy and resources required to manufacture the latest computer chips are significant.', 'Still, it is true that data centres have got more energy efficient over time, argues Dale Sartor, a consultant and affiliate of Lawrence Berkeley National Laboratory in the US.', 'Their efficiency is often measured in terms of power usage effectiveness, or PUE.', 'The lower the number, the better.', 'State-of-the-art data centres have a PUE of around 1.1, he notes.', 'These facilities do still create significant amounts of waste heat and Europe is ahead of the US in finding ways of using that waste heat – such as warming up swimming pools – says Mr Sartor.', 'Bruce Owen, UK managing director at Equinix, a data centre firm, says, “I still think that the demand is going to grow further than that efficiency gain that we see.”', 'He predicts that more data centres will be built with on-site power-generating facilities included.', 'Equinix was denied planning permission for a gas-powered data centre in Dublin last year.', 'Mr Sartor adds that costs may ultimately determine whether Generative AI is worth it for certain applications: “If the old way is cheaper and easier then there’s not going to be much of a market for the new way.”', 'Dr Luccioni stresses, though, that people will need to clearly understand how the options in front of them differ in terms of energy efficiency.', 'She is working on a project to develop energy ratings for AI. “', 'Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says.']",0.1682239152310992,"Instead of picking this GPT-derivative model that is very clunky and uses a lot of energy, you can pick this A+ energy star model that will be a lot more lightweight and efficient,” she says.","There is little doubt that the energy demands of data centres will rise in the coming years, but there is huge uncertainty over how much, stresses Mr Seiple.",0.2879800753934042,"The performance is going up so much that your overall energy savings are big,” says Mr Grayson.","Every time you query the model, the whole thing gets activated, so it’s wildly inefficient from a computational perspective,” she says.",2024-05-21
+"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.",2024-05-21
+Billionaires Jamie Dimon and Ray Dalio sound the alarm on soaring US government debt,https://edition.cnn.com/2024/05/16/business/jamie-dimon-ray-dalio-us-government-debt/index.html,"
+  Updated
+        10:55 AM EDT, Thu May 16, 2024
+    ","The chorus of voices warning about the dangers of record US government debt is growing louder.
+    
+            In the past 24 hours, JPMorgan (JPM) CEO Jamie Dimon and Ray Dalio, founder of the world’s biggest hedge fund, have weighed in with concerns about America’s debt pile.
+    
+            In an interview with Sky News Wednesday, Dimon said he hoped the US government would focus on reducing its budget deficit — the difference between what it spends and what it receives in taxes each year — before financial markets force it to.
+    
+            “The sooner we focus on it, the better,” Dimon added. “At one point, it will cause a problem… the problem will be caused by the market, and then you’ll be forced to deal with it and probably in a far more uncomfortable way than if you dealt with it to start.”
+    
+            Yawning deficits are adding to the overall level of US government debt because they require the Treasury to issue more bonds to plug the gap.
+    
+            Dalio said he was anxious about waning investor appetite for those government bonds, known as Treasuries. “I’m… concerned about the softening demand to meet supply, particularly from international buyers worried about the US debt picture and possible sanctions (against countries other than Russia),” he told the Financial Times.
+    
+            If investors become wary, they may demand higher returns — or yields — to own Treasuries — a risk already flagged by the International Monetary Fund (IMF) and the Congressional Budget Office (CBO) — and that in turn could mean higher borrowing costs across the US economy.
+    
+            The comments by Dimon and Dalio reflect widespread concerns about the broader risks of the huge US government debt burden, which the Treasury Department puts at $34.6 trillion, bigger than the size of the US economy.
+    
+            Dimon acknowledged that debt-fueled government spending, including pandemic stimulus, had been one of the reasons behind robust growth in the world’s biggest economy.
+    
+            “America spent a lot of money, during Covid and after Covid. Our deficit (is at) 6% now, that’s a lot, but obviously that drives growth,” he said.
+    
+            The spending spree has also raised consumer price inflation.
+    
+            “Any country can borrow money and drive some growth but it may not always lead to good growth, so I think America should be quite aware that we’ve got to focus on our fiscal deficit issues a little bit more and that is important for the world,” Dimon commented.
+    
+            Last month, the IMF said the high and rising level of US government debt risked driving up borrowing costs around the world and undermining global financial stability.
+    
+            That warning followed an even blunter message from the head of the CBO, the US Congress’s independent fiscal watchdog, who said the United States risked a bond market crisis of the kind that engulfed the United Kingdom under former Prime Minister Liz Truss.
+    
+            In that instance, investors effectively rejected the UK government’s plan to pay for extra spending and tax cuts by borrowing more money, leading to a selloff in UK government bonds.
+    
+            There is already some evidence that investors are demanding higher returns to hold US Treasuries, according to the IMF, partly as a result of their concerns about the debt trajectory.
+    
+            According to the Treasury Department, the federal government has so far spent $855 billion more than it has collected in the 2024 fiscal year, which began on October 1.
+    
+            Debt servicing costs have also soared, on the back of higher official interest rates, leaving less money for public services. In fiscal year 2023, the US government spent more to service its debt than it did on each of housing, transport and higher education, according to the Committee for a Responsible Federal Budget, a non-profit.
+    
+            The United States is far from alone in increasingly living beyond its means. The European Central Bank expects government debt in the 20 countries that use the euro to stay higher than before the pandemic.
+    
+            This will make European governments “more vulnerable to adverse shocks,” such as growing geopolitical tensions if they require more spending on defense, it said in a report Thursday.
+    
+            Olesya Dmitracova contributed to this article, which has been updated with additional information.",CNN,16/05/2024,"['The chorus of voices warning about the dangers of record US government debt is growing louder.', 'In the past 24 hours, JPMorgan (JPM) CEO Jamie Dimon and Ray Dalio, founder of the world’s biggest hedge fund, have weighed in with concerns about America’s debt pile.', 'In an interview with Sky News Wednesday, Dimon said he hoped the US government would focus on reducing its budget deficit — the difference between what it spends and what it receives in taxes each year — before financial markets force it to.', '“The sooner we focus on it, the better,” Dimon added. “', 'At one point, it will cause a problem… the problem will be caused by the market, and then you’ll be forced to deal with it and probably in a far more uncomfortable way than if you dealt with it to start.”', 'Yawning deficits are adding to the overall level of US government debt because they require the Treasury to issue more bonds to plug the gap.', 'Dalio said he was anxious about waning investor appetite for those government bonds, known as Treasuries. “', 'I’m… concerned about the softening demand to meet supply, particularly from international buyers worried about the US debt picture and possible sanctions (against countries other than Russia),” he told the Financial Times.', 'If investors become wary, they may demand higher returns — or yields — to own Treasuries — a risk already flagged by the International Monetary Fund (IMF) and the Congressional Budget Office (CBO) — and that in turn could mean higher borrowing costs across the US economy.', 'The comments by Dimon and Dalio reflect widespread concerns about the broader risks of the huge US government debt burden, which the Treasury Department puts at $34.6 trillion, bigger than the size of the US economy.', 'Dimon acknowledged that debt-fueled government spending, including pandemic stimulus, had been one of the reasons behind robust growth in the world’s biggest economy.', '“America spent a lot of money, during Covid and after Covid.', 'Our deficit (is at) 6% now, that’s a lot, but obviously that drives growth,” he said.', 'The spending spree has also raised consumer price inflation.', '“Any country can borrow money and drive some growth but it may not always lead to good growth, so I think America should be quite aware that we’ve got to focus on our fiscal deficit issues a little bit more and that is important for the world,” Dimon commented.', 'Last month, the IMF said the high and rising level of US government debt risked driving up borrowing costs around the world and undermining global financial stability.', 'That warning followed an even blunter message from the head of the CBO, the US Congress’s independent fiscal watchdog, who said the United States risked a bond market crisis of the kind that engulfed the United Kingdom under former Prime Minister Liz Truss.', 'In that instance, investors effectively rejected the UK government’s plan to pay for extra spending and tax cuts by borrowing more money, leading to a selloff in UK government bonds.', 'There is already some evidence that investors are demanding higher returns to hold US Treasuries, according to the IMF, partly as a result of their concerns about the debt trajectory.', 'According to the Treasury Department, the federal government has so far spent $855 billion more than it has collected in the 2024 fiscal year, which began on October 1.', 'Debt servicing costs have also soared, on the back of higher official interest rates, leaving less money for public services.', 'In fiscal year 2023, the US government spent more to service its debt than it did on each of housing, transport and higher education, according to the Committee for a Responsible Federal Budget, a non-profit.', 'The United States is far from alone in increasingly living beyond its means.', 'The European Central Bank expects government debt in the 20 countries that use the euro to stay higher than before the pandemic.', 'This will make European governments “more vulnerable to adverse shocks,” such as growing geopolitical tensions if they require more spending on defense, it said in a report Thursday.', 'Olesya Dmitracova contributed to this article, which has been updated with additional information.']",-0.1231538157865702,"“Any country can borrow money and drive some growth but it may not always lead to good growth, so I think America should be quite aware that we’ve got to focus on our fiscal deficit issues a little bit more and that is important for the world,” Dimon commented.","At one point, it will cause a problem… the problem will be caused by the market, and then you’ll be forced to deal with it and probably in a far more uncomfortable way than if you dealt with it to start.”",-0.3897259881099065,"Dimon acknowledged that debt-fueled government spending, including pandemic stimulus, had been one of the reasons behind robust growth in the world’s biggest economy.","In that instance, investors effectively rejected the UK government’s plan to pay for extra spending and tax cuts by borrowing more money, leading to a selloff in UK government bonds.",2024-05-21
+"Israel cancels order to cut AP live feed, will return camera equipment it seized",https://edition.cnn.com/2024/05/21/media/israel-gaza-live-camera-shut-down/index.html,"
+  Updated
+        3:50 PM EDT, Tue May 21, 2024
+    ","Israel said it will return to the Associated Press news agency camera equipment that it confiscated in Sderot earlier on Tuesday that showed live pictures of Israel’s border with the Gaza Strip.
+    
+            In a statement late Tuesday, Israel’s Communications Minister Shlomo Karhi said that he has “now ordered to cancel the operation and return the equipment” to the AP news agency, because “Israel’s Ministry of Defense wishes to examine the matter of the broadcasts from these locations in Sderot regarding the risk to our forces.”
+    
+            Earlier, the Associated Press on Tuesday said Israeli authorities had shut down its live camera feed showing Gaza and seized its equipment in what it decried as an “abusive use by the Israeli government of the country’s new foreign broadcasters law.”
+    
+            “The Associated Press decries in the strongest terms the actions of the Israeli government,” the non-profit news collective said in a statement. “We urge the Israeli authorities to return our equipment and enable us to reinstate our live feed immediately so we can continue to provide this important visual journalism to thousands of media outlets around the world.”
+    
+            The Israeli military regularly classifies areas around Gaza as “closed military zones,” restricting movement there. The AP’s live feed provided a view of actions in Gaza, where no independent journalists are able to operate because of Israeli and Egyptian restrictions on entry to the strip.
+    
+            The White House urged Israel to reverse its decision, telling CNN that it had “concerns” over the action.
+    
+            “We’ve been engaging directly with the government of Israel to express our concerns over this action and to ask them to reverse it,” according to a White House spokesperson.
+    
+            The Associated Press did not immediately respond to a CNN request for comment, but the Foreign Press Association did voice its alarm about the shutdown and confiscation.
+    
+            “Israel’s move today is a slippery slope. Israel could block other international news agencies from providing live footage of Gaza. It also could allow Israel to block media coverage of virtually any news event on vague security grounds,” the FPA said in a statement.
+    
+            The move comes weeks after Israel shut down Al Jazeera’s operations in the country, raiding the news outlet’s offices and seizing its communication equipment, prompting swift condemnation from the United Nations and rights groups over Israeli Prime Minister Benjamin Netanyahu’s moves to restrict press freedoms.
+    
+            The law approved by Israel’s parliament last month gives the prime minister and the communications minister the authority to “temporarily” order the closure of foreign networks operating in Israel that are deemed a threat to national security. News organizations could be banned for a 45-day period, although the government can renew the ban for additional 45-day periods. The law itself is also technically temporary and will expire on July 31 or earlier if an emergency declaration due to the war is canceled.
+    
+            Several legal challenges to the law are pending in Israeli courts. The Israeli Supreme Court recently declined to issue an emergency injunction against the law filed by The Association for Civil Rights in Israel.
+    
+            The group said in its petition filed in early April that the law “violates freedom of expression, the right to information and freedom of the press,” and “tramples on the principles of the rule of law and the independence of the judiciary, since it includes an “override clause” that prevents the court from overturning an illegal decision.” Another legal challenge has been filed in the Tel Aviv District Court.
+    
+            In an earlier statement, Karhi had accused the AP of violating its new law by providing a feed to its thousands of news clients, including Al Jazeera.
+    
+            The confiscated equipment included a camera, tripod, two microphones and transmission equipment, the statement said.
+    
+            The press freedom group Reporters Without Borders condemned Israel’s decision to seize the equipment.
+    
+            “After having banned Al Jazeera, Israel is lashing out at the AP,” it said in a statement. “RSF denounces the seizure of the news outlet’s camera and the interruption of the continuous feed that films Gaza under the pretext that these images are supplying, among others, Al Jazeera.”
+    
+            Israel opposition leader Yair Lapid also denounced the seizure as “an act of madness.”
+    
+            “This is not Al Jazeera, this is an American media outlet that has won 53 Pulitzer Prizes,” he said in a statement. “This government behaves as if it has decided to make sure at any cost that Israel will be outcast all over the world. They went mad.”",CNN,21/05/2024,"['Israel said it will return to the Associated Press news agency camera equipment that it confiscated in Sderot earlier on Tuesday that showed live pictures of Israel’s border with the Gaza Strip.', 'In a statement late Tuesday, Israel’s Communications Minister Shlomo Karhi said that he has “now ordered to cancel the operation and return the equipment” to the AP news agency, because “Israel’s Ministry of Defense wishes to examine the matter of the broadcasts from these locations in Sderot regarding the risk to our forces.”', 'Earlier, the Associated Press on Tuesday said Israeli authorities had shut down its live camera feed showing Gaza and seized its equipment in what it decried as an “abusive use by the Israeli government of the country’s new foreign broadcasters law.”', '“The Associated Press decries in the strongest terms the actions of the Israeli government,” the non-profit news collective said in a statement. “', 'We urge the Israeli authorities to return our equipment and enable us to reinstate our live feed immediately so we can continue to provide this important visual journalism to thousands of media outlets around the world.”', 'The Israeli military regularly classifies areas around Gaza as “closed military zones,” restricting movement there.', 'The AP’s live feed provided a view of actions in Gaza, where no independent journalists are able to operate because of Israeli and Egyptian restrictions on entry to the strip.', 'The White House urged Israel to reverse its decision, telling CNN that it had “concerns” over the action.', '“We’ve been engaging directly with the government of Israel to express our concerns over this action and to ask them to reverse it,” according to a White House spokesperson.', 'The Associated Press did not immediately respond to a CNN request for comment, but the Foreign Press Association did voice its alarm about the shutdown and confiscation.', '“Israel’s move today is a slippery slope.', 'Israel could block other international news agencies from providing live footage of Gaza.', 'It also could allow Israel to block media coverage of virtually any news event on vague security grounds,” the FPA said in a statement.', 'The move comes weeks afterIsrael shut down Al Jazeera’s operationsin the country, raiding the news outlet’s offices and seizing its communication equipment, prompting swift condemnation from the United Nations and rights groups over Israeli Prime Minister Benjamin Netanyahu’s moves to restrict press freedoms.', 'The law approved by Israel’s parliament last month gives the prime minister and the communications minister the authority to “temporarily” order the closure of foreign networks operating in Israel that are deemed a threat to national security.', 'News organizations could be banned for a 45-day period, although the government can renew the ban for additional 45-day periods.', 'The law itself is also technically temporary and will expire on July 31 or earlier if an emergency declaration due to the war is canceled.', 'Several legal challenges to the law are pending in Israeli courts.', 'The Israeli Supreme Court recently declined to issue an emergency injunction against the law filed by The Association for Civil Rights in Israel.', 'The group said in its petition filed in early April that the law “violates freedom of expression, the right to information and freedom of the press,” and “tramples on the principles of the rule of law and the independence of the judiciary, since it includes an “override clause” that prevents the court from overturning an illegal decision.”', 'Another legal challenge has been filed in the Tel Aviv District Court.', 'In an earlier statement, Karhi had accused the AP of violating its new law by providing a feed to its thousands of news clients, including Al Jazeera.', 'The confiscated equipment included a camera, tripod, two microphones and transmission equipment, the statement said.', 'The press freedom group Reporters Without Borders condemned Israel’s decision to seize the equipment.', '“After having banned Al Jazeera, Israel is lashing out at the AP,” it said in a statement. “', 'RSF denounces the seizure of the news outlet’s camera and the interruption of the continuous feed that films Gaza under the pretext that these images are supplying, among others, Al Jazeera.”', 'Israel opposition leader Yair Lapid also denounced the seizure as “an act of madness.”', '“This is not Al Jazeera, this is an American media outlet that has won 53 Pulitzer Prizes,” he said in a statement. “', 'This government behaves as if it has decided to make sure at any cost that Israel will be outcast all over the world.', 'They went mad.”']",-0.0810224998418425,"“This is not Al Jazeera, this is an American media outlet that has won 53 Pulitzer Prizes,” he said in a statement. “","News organizations could be banned for a 45-day period, although the government can renew the ban for additional 45-day periods.",-0.828266786204444,,“Israel’s move today is a slippery slope.,2024-05-21
+Trump Media lost more than $300 million last quarter on very little revenue,https://edition.cnn.com/2024/05/20/business/trump-media-quarterly-results/index.html,"
+  Updated
+        7:53 PM EDT, Mon May 20, 2024
+    ","Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release Monday.
+    
+            The results will raise additional questions about the multi-billion dollar valuation on the newly public company, which is majority owned by former President Donald Trump.
+    
+            Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year driven mostly by one-time losses linked to the deal that brought the company public earlier this year. The company lost $210,300 a year earlier.
+    
+            The company blamed the losses on non-cash expenses from the conversion of promissory notes and the elimination of previous liabilities.
+    
+            Trump Media reported an operating loss of $12.1 million, with a chunk of that being driven by one-time payments related to the closing of its merger with a blank-check company earlier this year.
+    
+            The company generated just $770,500 of revenue, marking the second-straight quarter where its revenue totaled less than $1 million.
+    
+            “I can’t emphasize enough how unusual it is for a company with this little revenue to have this high a valuation,” Matthew Kennedy, senior IPO market strategist at Renaissance Capital, told CNN in an email.
+    
+            In the press release, Trump Media said that at this “early stage” in its development, the company “remains focused on long-term product development, rather than quarterly revenue.”
+    
+            It acknowledged that its advertising business is just getting off the ground and expressed confidence that new products like streaming will boost its results in the future.
+    
+            “But if they’re not focused on revenue, public investors have very little to go on. What metrics can we look at? How can investors determine if the company is on the right track?” Kennedy said. “The company does not provide user metrics (though we could look at app downloads or Trump’s followers). It requires a lot of trust, and for now, shareholders seem to be willing to extend an enormous amount of trust. That can quickly change, as we saw in early April.”
+    
+            Trump Media said that it has “sufficient” cash to fund the business “for the foreseeable future.” The company listed a cash balance of $274 million as of the end of March — a sum boosted by its deal to go public.
+    
+            “After an unprecedented, years-long process, we have consummated our merger and dispensed with the vast bulk of merger-related expenses, leaving the Company well-capitalized and supported by a legion of retail shareholders who believe in our mission to provide a free-speech beachhead against Big Tech censorship,” Trump Media CEO Devin Nunes said in a statement. `
+    
+            Nunes even said Trump Media’s cash balance gives the company the opportunity to explore potential mergers and acquisitions.
+    
+            Experts have said the price tag on Trump Media stock defies logic given the company’s financial results and small footprint in social media.
+    
+            Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, said “revenue is still anemic” for Trump Media.
+    
+            “Although the company is not burning through its ample cash reserves rapidly, it is not generating much revenue, suggesting that there is no reason to think that the company will turn the corner and become profitable in the foreseeable future,” Ritter said.
+    
+            Despite all the fanfare for the public listing earlier this year, Truth Social remains a very tiny player in social media.
+    
+            In April, the conservative-friendly social network experienced a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000, according to market research firm Similarweb. Rival X (formerly known as Twitter) had more than 34 million users on iOS and Android, while Instagram’s Threads had 3.5 million.
+    
+            Trump Media said its financials were reviewed by Semple, Marchal & Cooper, its newly hired accounting firm. The company’s previous accounting firm was accused of “massive fraud” by federal regulators this month. (Regulators made no allegation of wrongdoing against Trump Media, which was not mentioned in the charges against the auditor.)",CNN,20/05/2024,"['Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release Monday.', 'The results will raise additional questions about the multi-billion dollar valuation on the newly public company, which is majority owned by former President Donald Trump.', 'Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year driven mostly by one-time losses linked to the deal that brought the company public earlier this year.', 'The company lost $210,300 a year earlier.', 'The company blamed the losses on non-cash expenses from the conversion of promissory notes and the elimination of previous liabilities.', 'Trump Media reported an operating loss of $12.1 million, with a chunk of that being driven by one-time payments related to the closing of its merger with a blank-check company earlier this year.', 'The company generated just $770,500 of revenue, marking the second-straight quarter where its revenue totaled less than $1 million.', '“I can’t emphasize enough how unusual it is for a company with this little revenue to have this high a valuation,” Matthew Kennedy, senior IPO market strategist at Renaissance Capital, told CNN in an email.', 'In the press release, Trump Media said that at this “early stage” in its development, the company “remains focused on long-term product development, rather than quarterly revenue.”', 'It acknowledged that its advertising business is just getting off the ground and expressed confidence that new products like streaming will boost its results in the future.', '“But if they’re not focused on revenue, public investors have very little to go on.', 'What metrics can we look at?', 'How can investors determine if the company is on the right track?”', 'Kennedy said. “', 'The company does not provide usermetrics (though we could look at app downloads or Trump’s followers).', 'It requires a lot of trust, and for now, shareholders seem to be willing to extend an enormous amount of trust.', 'That can quickly change, as we saw in early April.”', 'Trump Media said that it has “sufficient” cash to fund the business “for the foreseeable future.”', 'The company listed a cash balance of $274 million as of the end of March — a sum boosted by its deal to go public.', '“After an unprecedented, years-long process, we have consummated our merger and dispensed with the vast bulk of merger-related expenses, leaving the Company well-capitalized and supported by a legion of retail shareholders who believe in our mission to provide a free-speech beachhead against Big Tech censorship,” Trump Media CEO Devin Nunes said in a statement.', '`  Nunes even said Trump Media’s cash balance gives the company the opportunity to explore potential mergers and acquisitions.', 'Experts have said the price tag on Trump Media stock defies logic given the company’s financial results and small footprint in social media.', 'Jay Ritter, a finance professor at the University of Florida’s Warrington College of Business, said “revenue is still anemic” for Trump Media.', '“Although the company is not burning through its ample cash reserves rapidly, it is not generating much revenue, suggesting that there is no reason to think that the company will turn the corner and become profitable in the foreseeable future,” Ritter said.', 'Despite all the fanfare for the public listing earlier this year, Truth Socialremains a very tiny player in social media.', 'In April, the conservative-friendly social network experienced a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000, according to market research firm Similarweb.', 'Rival X (formerly known as Twitter) had more than 34 million users on iOS and Android, while Instagram’s Threads had 3.5 million.', 'Trump Media said its financials were reviewed by Semple, Marchal & Cooper, its newly hired accounting firm.', 'The company’s previous accounting firm wasaccused of “massive fraud”by federal regulators this month. (', 'Regulators made no allegation of wrongdoing againstTrump Media, which was not mentioned in the charges against the auditor.)']",0.0671941261060192,"It requires a lot of trust, and for now, shareholders seem to be willing to extend an enormous amount of trust.",The company blamed the losses on non-cash expenses from the conversion of promissory notes and the elimination of previous liabilities.,-0.2050078908602396,It acknowledged that its advertising business is just getting off the ground and expressed confidence that new products like streaming will boost its results in the future.,"In April, the conservative-friendly social network experienced a 19% year-over-year drop in average daily active US users on iOS and Android to just 113,000, according to market research firm Similarweb.",2024-05-21
+China is trying to end its ‘epic’ property crisis. The hard work is just beginning,https://edition.cnn.com/2024/05/21/economy/china-property-crisis-stimulus-challenges-intl-hnk/index.html,"
+  Published
+        6:14 AM EDT, Tue May 21, 2024
+    ","Beijing has launched its most ambitious plan yet to rescue its property market, a development that investors have eagerly anticipated for months. But it’s far from certain that the measures will work.
+    
+            The package is centered around Beijing’s adoption of a policy that has already been tested in a major city — asking local governments to buy unsold homes from developers and convert them into social affordable housing. It also features a reduction in mortgage interest rates and downpayment ratios, and more importantly, 300 billion yuan ($41.5 billion) in cheap central bank cash to fund state purchases of unsold properties.
+    
+            The announcement last week swiftly followed an April meeting of the Politburo, China’s top ruling body, indicating that stabilizing the property sector has become a top priority for Beijing as it tries to revive growth in the world’s second biggest economy.
+    
+            “The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. “The new rescue plan demonstrates the policymakers’ resolution to turn things around.”
+    
+            While the urgency is welcome, experts say the current package may be far too small in scale to be effective and could suffer problems with funding.
+    
+            According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion).
+    
+            To reduce the supply of housing to levels last seen in 2018, the year the real estate boom peaked, may require more than 7 trillion yuan ($967 billion) for all cities, the Goldman analysts wrote in a Monday research note. That’s more than 20 times the amount of funding announced by the People’s Bank of China (PBOC).
+    
+            Even though China’s economy expanded faster than expected at the start of this year, growth is being weighed down by the all-important real estate sector, which once accounted for as much as 30% of economic activity.
+    
+            Despite the flurry of announcements last week, it’s still unclear exactly how the government purchases will be implemented and how much is needed to fund the buying. Most importantly, there is lack of clarity on where cash-strapped local governments can get the money to pay for it.
+    
+            On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying.
+    
+            But even this figure is much less than what could be needed. Some analysts estimate that hundreds of billions of dollars might be necessary to clear the backlog of millions of empty or unfinished homes across the country.
+    
+            Ting Lu, chief China economist at Nomura, who has called the country’s housing problem “epic,” says just finishing construction of pre-sold homes would require at least 3.2 trillion yuan ($442 billion). He estimated that there are currently 20 million pre-sold homes that remain unbuilt.
+    
+            Helen Qiao, chief economist for Greater China at Bank of America, said the funding size of a maximum of 500 billion yuan was “rather underwhelming.”
+    
+            Without further expansion, the plan was unlikely to make a “notable difference” to the inventory of empty or unfinished homes, she added.
+    
+            It’s also unclear where indebted local governments can get the funding, beyond the relatively small amounts the PBOC is channeling via state banks.
+    
+            The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers. But local government financing vehicles (LGFV), which are already carrying a huge amount of “hidden” debt, are not allowed to make the purchases, according to Tao from PBOC.
+    
+            That leaves fewer options for local authorities to find the cash.
+    
+            Chinese cities have already racked up about $15 trillion in debt, much of it hidden, having borrowed heavily in recent years to cover the cost of pandemic-related spending and infrastructure projects.
+    
+             The housing market slump has exacerbated their financial woes, as land sales typically account for more than 40% of local government revenue.
+    
+            The debt distress has forced many Chinese cities to slash spending, including suspending basic services, such as heating people’s homes in winter.
+    
+            “It’s debatable whether it’s a good idea to put more debt on already highly-leveraged local governments,” Jing Liu and Taylor Wang, China economists for HSBC, said in a note on Monday.
+    
+            China’s property industry began to cool in 2019 and fell into a deep trough about three years ago after a government-led clampdown on developers’ borrowing.
+    
+            Policy rescue efforts started as early as 2022, when the slump triggered crises at some developers and sparked protests by tens of thousands of homebuyers in response to delayed or stalled projects.
+    
+            But the measures have been largely ineffective, resulting in a deterioration of cash flow among developers. The most recent saga at Vanke, a major real estate company, suggests every developer is at risk, Xing said.
+    
+            Addressing the oversupply of unsold homes is only the first step, experts say. Broadly speaking, the government needs to tackle three problems, according to Goldman analysts.
+    
+            The first step involves bailing out developers and helping them complete pre-sold but unfinished homes, which is what the new measures are intended to tackle.
+    
+            “This is important for maintaining overall social stability and stemming further declines in new home sales,” they said.
+    
+            But the second and third steps involve boosting housing demand and mitigating the contraction in property construction, they said. That requires more detailed measures to revive consumer confidence and boost housing prices.
+    
+            Making matters worse, the external environment has become increasingly difficult.
+    
+            Last week, the US government announced new tariffs on China, which could be followed by similar action by the European Union. Former President Donald Trump has threatened to go even further by slapping 60% tariffs on imports from China if he is re-elected.
+    
+            Xing estimated that Trump’s proposed tariffs could cut China’s growth rate by as much as 0.9%.
+    
+            “The rescue is not a game-changer for low-tier cities’ housing, which will likely remain depressed,” Michelle Lam and Wei Yao, China economists at Société Générale, said in a research note on Monday.
+    
+            They also think the rescue plan needs to be expanded, with more detailed policies to be announced. But what matters the most is that Beijing has taken the bold initiative, which will help stabilize expectations.
+    
+            Taking a long-term perspective, the plan could reduce the risk of China sliding into a “deflationary spiral” like Japan did, as a key lesson from there is that policy makers should avoid doing too little, too late, they said.
+    
+            “[This might be] the beginning of the end of China’s housing crisis,” they added.",CNN,21/05/2024,"['Beijing has launched its most ambitious plan yet to rescue its property market, a development that investors have eagerly anticipated for months.', 'But it’s far from certain that the measures will work.', 'The package is centered around Beijing’s adoption of a policy that has already been tested in a major city — asking local governments to buy unsold homes from developers and convert them into social affordable housing.', 'It also features a reduction in mortgage interest rates and downpayment ratios, and more importantly, 300 billion yuan ($41.5 billion) in cheap central bank cash to fund state purchases of unsold properties.', 'The announcement last week swiftly followed an April meeting of the Politburo, China’stoprulingbody, indicating that stabilizing the property sector has become a top priority for Beijing as it tries to revive growth in the world’s second biggest economy.', '“The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. “', 'The new rescue plan demonstrates the policymakers’ resolution to turn things around.”', 'While the urgency is welcome, experts say the current package may be far too small in scale to be effective and could suffer problems with funding.', 'According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion).', 'To reduce the supply of housing to levels last seen in 2018, the year the real estate boom peaked, may require more than 7 trillion yuan ($967 billion) for all cities, the Goldman analysts wrote in a Monday research note.', 'That’s more than 20 times the amount of funding announced by the People’s Bank of China (PBOC).', 'Even though China’s economy expanded faster than expected at the start of this year, growth is being weighed down by the all-important real estate sector, which once accounted for as much as 30% of economic activity.', 'Despite the flurry of announcements last week, it’s still unclear exactly how the government purchases will be implemented and how much is needed to fund the buying.', 'Most importantly, there is lack of clarity on where cash-strapped local governments can get the money to pay for it.', 'On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying.', 'But even this figure is much less than what could be needed.', 'Some analysts estimate that hundreds of billions of dollars might be necessary to clear the backlog of millions of empty or unfinished homes across the country.', 'Ting Lu, chief China economist at Nomura, who has called the country’s housing problem “epic,” says just finishing construction of pre-sold homes would require at least 3.2 trillion yuan($442 billion).', 'He estimated that there are currently 20 million pre-sold homes that remain unbuilt.', 'Helen Qiao, chief economist for Greater China at Bank of America, said the funding size of a maximum of 500 billion yuan was “rather underwhelming.”', 'Without further expansion, the plan was unlikely to make a “notable difference” to the inventory of empty or unfinished homes, she added.', 'It’s also unclear where indebted local governments can get the funding, beyond the relatively small amounts the PBOC is channeling via state banks.', 'The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers.', 'But local government financing vehicles (LGFV), which are already carrying a huge amount of “hidden” debt, are not allowed to make the purchases, according to Tao from PBOC.', 'That leaves fewer options for local authorities to find the cash.', 'Chinese cities have already racked up about $15 trillion in debt, much of it hidden, having borrowed heavily in recent years to cover the cost of pandemic-related spending and infrastructure projects.', 'The housing market slump has exacerbated their financial woes, as land sales typically account for more than 40% of local government revenue.', 'The debt distress has forced many Chinese cities to slash spending, including suspending basic services, such as heating people’s homes in winter.', '“It’s debatable whether it’s a good idea to put more debt on already highly-leveraged local governments,” Jing Liu and Taylor Wang, China economists for HSBC, said in a note on Monday.', 'China’s property industry began to cool in 2019 and fell into a deep trough about three years ago after a government-led clampdown on developers’ borrowing.', 'Policy rescue efforts started as early as 2022, when the slump triggered crises at some developers and sparked protests by tens of thousands of homebuyers in response to delayed or stalled projects.', 'But the measures have been largely ineffective, resulting in a deterioration of cash flow among developers.', 'The most recent saga at Vanke, a major real estate company, suggests every developer is at risk, Xing said.', 'Addressing the oversupply of unsold homes is only the first step, experts say.', 'Broadly speaking, the government needs to tackle three problems, according to Goldman analysts.', 'The first step involves bailing out developers and helping them complete pre-sold but unfinished homes, which is what the new measures are intended to tackle.', '“This is important for maintaining overall social stability and stemming further declines in new home sales,” they said.', 'But the second and third steps involve boosting housing demand and mitigating the contraction in property construction, they said.', 'That requires more detailed measures to revive consumer confidence and boost housing prices.', 'Making matters worse, the external environment has become increasingly difficult.', 'Last week, the US government announced new tariffs on China, which could be followed by similar action by the European Union.', 'Former President Donald Trump has threatened togo even further by slapping 60% tariffs on imports from Chinaif he is re-elected.', 'Xing estimated that Trump’s proposed tariffs could cut China’s growth rate by as much as 0.9%.', '“The rescue is not a game-changer for low-tier cities’ housing, which will likely remain depressed,” Michelle Lam and Wei Yao, China economists at Société Générale, said in a research note on Monday.', 'They also think the rescue plan needs to be expanded, with more detailed policies to be announced.', 'But what matters the most is that Beijing has taken the bold initiative, which will help stabilize expectations.', 'Taking a long-term perspective, the plan could reduce the risk of China sliding into a “deflationary spiral” like Japan did, as a key lesson from there is that policy makers should avoid doing too little, too late, they said.', '“[This might be] the beginning of the end of China’s housing crisis,” they added.']",0.0545785679651435,"Beijing has launched its most ambitious plan yet to rescue its property market, a development that investors have eagerly anticipated for months.","The debt distress has forced many Chinese cities to slash spending, including suspending basic services, such as heating people’s homes in winter.",-0.3114581704139709,"But what matters the most is that Beijing has taken the bold initiative, which will help stabilize expectations.","But the measures have been largely ineffective, resulting in a deterioration of cash flow among developers.",2024-05-21
+"Trump’s new trade war would cost middle-class families at least $1,700 a year, report warns",https://edition.cnn.com/2024/05/21/business/trump-trade-war-tariffs-china/index.html,"
+  Published
+        6:00 AM EDT, Tue May 21, 2024
+    ","Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office.
+    
+            Not only has Trump called for a 60% tariff on all Chinese goods, the presumptive GOP presidential nominee has said he would impose a tariff of at least a 10% on all $3 trillion worth of US imports.
+    
+            While Trump has championed aggressive tariffs as a way to protect working-class Americans, new research suggests they would do the opposite.
+    
+            Trump’s unprecedented trade proposals would inflict “significant collateral damage on the US economy,” costing consumers at least $500 billion a year, or 1.8% of gross domestic product (GDP), according to a paper published Monday by the Peterson Institute for International Economics.
+    
+            That’s nearly five times the total cost as a share of GDP from the 2018-2019 US-China trade war.
+    
+            Trump’s tariff proposals would cost the typical middle-income household at least $1,700 a year, the researchers found.
+    
+            “These policies are more likely to hurt than help the lower- and middle-income Americans they purport to benefit,” authors Kimberly Clausing and Mary Lovely, senior fellows at the Peterson Institute, wrote in the paper, titled “Why Trump’s Tariff Proposals Would Harm Working Americans.”
+    
+            The paper stresses that the $1,700 hit to the typical family is just the minimum impact, as the estimate does not include damage from foreign retaliation, slower economic growth and lost competitiveness. The authors warn the actual impact could be twice as high.
+    
+            “This is the tip of the iceberg,” Clausing, chair in tax law and policy at the UCLA School of Law, told CNN in a phone interview. “The cost of retaliation will be very large. The Europeans will tariff us. The Mexicans and Canadians will be very upset. People aren’t going to take it lying down.”
+    
+            Of course, Trump is hardly alone in embracing tariffs.
+    
+            President Joe Biden largely kept in place the Trump-era tariffs – even though he criticized them in the lead-up to the 2020 election.
+    
+            “Despite having ample opportunity,” the authors wrote, Biden has “failed to remove” the China tariffs that “continue to harm American households, although to a far smaller degree than Trump’s proposed tariffs would do.”
+    
+            Biden hasn’t just kept the Trump tariffs in place. He has added to them, albeit in a much more targeted way.
+    
+            Treasury Secretary Janet Yellen, in remarks she delivered Tuesday morning in Frankfurt, Germany, called on Europe to join the United States in its effort to fight back against a flood of cheap Chinese goods entering the global marketplace.
+    
+            “Industrial overcapacity not only poses a threat to firms in the U.S. and Europe. It could also prevent countries around the world, including emerging markets, from building the industries that could power their growth,” Yellen said. “If we do not respond strategically and in a united way, the viability of businesses in both our countries and around the world could be at risk.”
+    
+            Last week Biden announced increased tariffs on $18 billion worth of Chinese goods, including steel, aluminum, computer chips, electric vehicles and solar cells.
+    
+            Clausing, a former Biden official at the Treasury Department, told CNN that a rough estimate suggests these targeted Biden tariffs will cost the typical family approximately $30 a year.
+    
+            “Eighteen billion dollars is incredibly small relative to $3 trillion. Those aren’t comparable numbers,” Clausing said, referring to the amount of imports targeted by Biden and by Trump tariffs.
+    
+            Karoline Leavitt, the Trump campaign’s national press secretary, said in response to the research that Trump negotiated better trade deals during his first term that boosted the US economy.
+    
+            “The American people don’t need ‘papers’ from alleged ‘experts’ to know Bidenomics has robbed them of thousands of hard-earned dollars, and they will have more money back in their pockets with President Trump back in the White House,” Leavitt said in a statement to CNN.
+    
+            Leavitt argued that “out of control spending created the worst inflation crisis in generations” during the Biden administration.
+    
+            “When President Trump is back, he will reimplement his America First, pro-growth, pro-job agenda and cut good trade deals that uplift the American worker and family,” she said.
+    
+            To be sure, Trump has legitimate gripes with China on trade.
+    
+            Many Democrats and CEOs share concerns about China’s trade practices, including alleged theft of trade secrets, “dumping” goods at artificially cheap prices and other moves that make it difficult to compete on a level playing field.
+    
+            However, some economists have expressed alarm at the massive tariff proposals from Trump, who famously labeled himself “Tariff Man” in 2018.
+    
+            Moody’s recently estimated that even if Trump cushioned the blow from tariffs with tax cuts, his trade proposals would cost the US economy 675,000 jobs, worsen inflation and shrink GDP by 0.6 percentage points.
+    
+            Mark Zandi, chief economist at Moody’s, told CNN last month that the US economy would likely plunge into a recession when factoring in retaliation from other nations.
+    
+            The Peterson Institute research found that even the high end of projections for revenue generated would fall “far short” of what would be needed to pay for an extension of Trump’s tax cuts, which are set to expire at the end of 2025.
+    
+            It would cost approximately $4.6 trillion if the Trump tax cuts are extended for the next decade, according to a recent Congressional Budget Office report.
+    
+            The benefits from expanding the Trump tax cuts would go “disproportionately to the top end of the income distribution,” the Peterson Institute researchers found.
+    
+            Bigger picture, the risk of a broader global trade fight could also impact international affairs.
+    
+            The Peterson Institute authors argued the trade tensions would make it harder for nations to collaborate on other critical issues such as climate change, public health emergencies, security and nuclear proliferation.
+    
+            “In short, the proposed policies come with serious national security risks,” they wrote.
+    
+            The Peterson Institute trade analysis assumes that tariffs are “fully passed on to US buyers” – a finding disputed by Trump, who has repeatedly suggested that other nations are paying for US tariffs.
+    
+            However, many experts say US consumers and businesses pay the cost of the tariffs.
+    
+            “The 2018-2019 tariffs clearly raised consumer prices,” Goldman Sachs economists wrote in a recent report to clients, adding that these price increases were “borne almost entirely by US businesses and households” – not Chinese exporters.
+    
+            Likewise, the US International Trade Commission found in a 2023 study that US importers “bore nearly the full cost” of tariffs. That independent agency estimated that prices increased by about 1% for each 1% increase in tariffs on Chinese-made goods, steel and aluminum.
+    
+            “In contrast to Trump’s frequent, and mistaken, claims that foreigners bear the impact of tariffs, economists have long understood that tariffs burden domestic purchasers of imported goods,” the Peterson Institute paper said. “The data show that higher tariffs are fully reflected in higher prices for US buyers.”
+    
+            No matter who wins in November, tariffs are expected to remain in favor in Washington – especially on China.
+    
+            Both parties have embraced tariffs as a way to show they are tough on China, and there is little appetite to back down – even though economists say lower tariffs could help ease inflation.
+    
+            Policies that favor American factories are “arguably the most bipartisan issue in an increasingly partisan Washington,” Chris Krueger, managing director of TD Cowen’s Washington Research Group, wrote in a note to clients on Monday.",CNN,21/05/2024,"['Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office.', 'Not only has Trump called for a 60% tariff on all Chinese goods, the presumptive GOP presidential nominee has said he would impose a tariff of at least a 10% on all $3 trillion worth of US imports.', 'While Trump has championed aggressive tariffs as a way to protect working-class Americans, new research suggests they would do the opposite.', 'Trump’s unprecedented trade proposals would inflict “significant collateral damage on the US economy,” costing consumers at least $500 billion a year, or 1.8% of gross domestic product (GDP), according to a paper published Monday by the Peterson Institute for International Economics.', 'That’s nearly five times the total cost as a share of GDP from the 2018-2019 US-China trade war.', 'Trump’s tariff proposals would cost the typical middle-income household at least $1,700 a year, the researchers found.', '“These policies are more likely to hurt than help the lower- and middle-income Americans they purport to benefit,” authors Kimberly Clausing and Mary Lovely, senior fellows at the Peterson Institute, wrote in the paper, titled “Why Trump’s Tariff Proposals Would Harm Working Americans.”', 'The paper stresses that the $1,700 hit to the typical family is just the minimum impact, as the estimate does not include damage from foreign retaliation, slower economic growth and lost competitiveness.', 'The authors warn the actual impact could be twice as high.', '“This is the tip of the iceberg,” Clausing, chair in tax law and policy at the UCLA School of Law, told CNN in a phone interview. “', 'The cost of retaliation will be very large.', 'The Europeans will tariff us.', 'The Mexicans and Canadians will be very upset.', 'People aren’t going to take it lying down.”', 'Of course, Trump is hardly alone in embracing tariffs.', 'President Joe Biden largely kept in place the Trump-era tariffs – even though he criticized them in the lead-up to the 2020 election.', '“Despite having ample opportunity,” the authors wrote, Biden has “failed to remove” the China tariffs that “continue to harm American households, although to a far smaller degree than Trump’s proposed tariffs would do.”', 'Biden hasn’t just kept the Trump tariffs in place.', 'He has added to them, albeit in a much more targeted way.', 'Treasury Secretary Janet Yellen, in remarks she delivered Tuesday morning in Frankfurt, Germany, called on Europe to join the United States in its effort to fight back against a flood of cheap Chinese goods entering the global marketplace.', '“Industrial overcapacity not only poses a threat to firms in the U.S. and Europe.', 'It could also prevent countries around the world, including emerging markets, from building the industries that could power their growth,” Yellen said. “', 'If we do not respond strategically and in a united way, the viability of businesses in both our countries and around the world could be at risk.”', 'Last week Biden announced increased tariffs on $18 billion worth of Chinese goods, including steel, aluminum, computer chips, electric vehicles and solar cells.', 'Clausing, a former Biden official at the Treasury Department, told CNN that a rough estimate suggests these targeted Biden tariffs will cost the typical family approximately $30 a year.', '“Eighteen billion dollars is incredibly small relative to $3 trillion.', 'Those aren’t comparable numbers,” Clausing said, referring to the amount of imports targeted by Biden and by Trump tariffs.', 'Karoline Leavitt, the Trump campaign’s national press secretary, said in response to the research that Trump negotiated better trade deals during his first term that boosted the US economy.', '“The American people don’t need ‘papers’ from alleged ‘experts’ to know Bidenomics has robbed them of thousands of hard-earned dollars, and they will have more money back in their pockets with President Trump back in the White House,” Leavitt said in a statement to CNN.', 'Leavitt argued that “out of control spending created the worst inflation crisis in generations” during the Biden administration.', '“When President Trump is back, he will reimplement his America First, pro-growth, pro-job agenda and cut good trade deals that uplift the American worker and family,” she said.', 'To be sure, Trump has legitimate gripes with China on trade.', 'Many Democrats and CEOs share concerns about China’s trade practices, including alleged theft of trade secrets, “dumping” goods at artificially cheap prices and other moves that make it difficult to compete on a level playing field.', 'However, some economists have expressed alarm at the massive tariff proposals from Trump, who famously labeled himself “Tariff Man” in 2018.', 'Moody’s recently estimated that even if Trump cushioned the blow from tariffs with tax cuts, his trade proposals would cost the US economy 675,000 jobs, worsen inflation and shrink GDP by 0.6 percentage points.', 'Mark Zandi, chief economist at Moody’s, told CNN last month that the US economy would likely plunge into a recession when factoring in retaliation from other nations.', 'The Peterson Institute research found that even the high end of projections for revenue generated would fall “far short” of what would be needed to pay for an extension of Trump’s tax cuts, which are set to expire at the end of 2025.', 'It would cost approximately $4.6 trillion if the Trump tax cuts are extended for the next decade, according to a recent Congressional Budget Office report.', 'The benefits from expanding the Trump tax cuts would go “disproportionately to the top end of the income distribution,” the Peterson Institute researchers found.', 'Bigger picture, the risk of a broader global trade fight could also impact international affairs.', 'The Peterson Institute authors argued the trade tensions would make it harder for nations to collaborate on other critical issues such as climate change, public health emergencies, security and nuclear proliferation.', '“In short, the proposed policies come with serious national security risks,” they wrote.', 'The Peterson Institute trade analysis assumes that tariffs are “fully passed on to US buyers” – a finding disputed by Trump, who has repeatedly suggested that other nations are paying for US tariffs.', 'However, many experts say US consumers and businesses pay the cost of the tariffs.', '“The 2018-2019 tariffs clearly raised consumer prices,” Goldman Sachs economists wrote in a recent report to clients, adding that these price increases were “borne almost entirely by US businesses and households” – not Chinese exporters.', 'Likewise, the US International Trade Commission found in a 2023 study that US importers “bore nearly the full cost” of tariffs.', 'That independent agency estimated that prices increased by about 1% for each 1% increase in tariffs on Chinese-made goods, steel and aluminum.', '“In contrast to Trump’s frequent, and mistaken, claims that foreigners bear the impact of tariffs, economists have long understood that tariffs burden domestic purchasers of imported goods,” the Peterson Institute paper said. “', 'The data show that higher tariffs are fully reflected in higher prices for US buyers.”', 'No matter who wins in November, tariffs are expected to remain in favor in Washington – especially on China.', 'Both parties have embraced tariffs as a way to show they are tough on China, and there is little appetite to back down – even though economists say lower tariffs could help ease inflation.', 'Policies that favor American factories are “arguably the most bipartisan issue in an increasingly partisan Washington,” Chris Krueger, managing director of TD Cowen’s Washington Research Group, wrote in a note to clients on Monday.']",-0.0803540655526095,"Karoline Leavitt, the Trump campaign’s national press secretary, said in response to the research that Trump negotiated better trade deals during his first term that boosted the US economy.",Leavitt argued that “out of control spending created the worst inflation crisis in generations” during the Biden administration.,-0.477447543074103,"Karoline Leavitt, the Trump campaign’s national press secretary, said in response to the research that Trump negotiated better trade deals during his first term that boosted the US economy.","The Peterson Institute research found that even the high end of projections for revenue generated would fall “far short” of what would be needed to pay for an extension of Trump’s tax cuts, which are set to expire at the end of 2025.",2024-05-21
+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).",2024-05-21
+Facebook and Instagram probed over fears they may be too addictive for children,https://edition.cnn.com/2024/05/16/tech/europe-investigation-meta-child-safety/index.html,"
+  Published
+        8:54 AM EDT, Thu May 16, 2024
+    ","The European Union is worried that Meta is failing to protect children on its platforms, Facebook and Instagram, and has launched a formal investigation that could result in a hefty fine.
+    
+            The probe is the latest evidence that regulators are increasingly focussing on the harmful impact of Meta’s platforms — and other social media — on young users, including by encouraging addictive behavior.
+    
+            The European Commission, the EU’s executive arm, will consider whether Meta (META) has complied with its obligations under the Digital Services Act (DSA), the bloc’s sweeping new law for online platforms.
+    
+            The legislation requires online platforms to put in place measures to protect children, including by preventing them from accessing inappropriate content and ensuring a high level of privacy and safety. Non-compliance could result in companies being fined as much as 6% of their global revenue or being forced to change their software.
+    
+            The European Commission is concerned that Facebook’s and Instagram’s online interfaces “may exploit the weaknesses and inexperience of minors and cause addictive behavior,” it said in a statement Thursday.
+    
+            “The Commission is also concerned about age assurance and verification methods put in place by Meta,” it added, noting that these may not be effective.
+    
+            In a statement shared with CNN, a spokesperson for Meta responded: “We want young people to have safe, age-appropriate experiences online and have spent a decade developing more than 50 tools and policies designed to protect them. This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission.”
+    
+            A report the company submitted to the European Commission last September, detailing how its platforms protect minors, was not enough to assuage regulators’ concerns.
+    
+            “We are not convinced that (Meta) has done enough to comply with the DSA obligations to mitigate the risks of negative effects to the physical and mental health of young Europeans,” Commissioner Thierry Breton, said in the statement. “We are sparing no effort to protect our children.”
+    
+            Meta has faced growing scrutiny over the impact of its platforms on young users in recent years. The social media giant has been sued by various US school districts and state attorney generals in lawsuits related to youth mental health, child safety and privacy.
+    
+            Earlier this month, an investigation by the New Mexico attorney general into the potential dangers of Meta’s platforms resulted in the arrests of three men charged with attempted sexual abuse of children.
+    
+            Meta has also been frequently caught in the crosshairs of EU regulators, including over its handling of advertising by scammers and foreign election meddlers ahead of upcoming EU elections, as well as over disinformation and illegal content on its platforms linked to the war in Gaza.",CNN,16/05/2024,"['The European Union is worried that Meta is failing to protect children on its platforms, Facebook and Instagram, and has launched a formal investigation that could result in a hefty fine.', 'The probe is the latest evidence that regulators are increasingly focussing on the harmful impact of Meta’s platforms — and other social media — on young users, including by encouraging addictive behavior.', 'The European Commission, the EU’s executive arm, will consider whether Meta (META) has complied with its obligations under the Digital Services Act (DSA), the bloc’s sweeping new law for online platforms.', 'The legislation requires online platforms to put in place measures to protect children, including by preventing them from accessing inappropriate content and ensuring a high level of privacy and safety.', 'Non-compliance could result in companies being fined as much as 6% of their global revenue or being forced to change their software.', 'The European Commission is concerned that Facebook’s and Instagram’s online interfaces “may exploitthe weaknesses and inexperience of minorsand causeaddictive behavior,” it said in a statement Thursday.', '“The Commission is also concerned about age assurance and verification methods put in place by Meta,” it added, noting that these may not be effective.', 'In a statement shared with CNN, a spokesperson for Meta responded: “We want young people to have safe, age-appropriate experiences online and have spent a decade developing more than 50 tools and policies designed to protect them.', 'This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission.”', 'A report the company submitted to the European Commission last September, detailing how its platforms protect minors, was not enough to assuage regulators’ concerns.', '“We are not convinced that (Meta) has done enough to comply with the DSA obligations to mitigate the risks of negative effects to the physical and mental health of young Europeans,” Commissioner Thierry Breton, said in the statement. “', 'We are sparing no effort to protect our children.”', 'Meta has faced growing scrutiny over the impact of its platforms on young users in recent years.', 'The social media giant has been sued by various US school districts and state attorney generals in lawsuits related to youth mental health, child safety and privacy.', 'Earlier this month, an investigation by the New Mexico attorney general into the potential dangers of Meta’s platforms resulted in the arrests of three men charged with attempted sexual abuse of children.', 'Meta has also been frequently caught in the crosshairs of EU regulators, including over its handling of advertising by scammers and foreign election meddlers ahead of upcoming EU elections, as well as over disinformation and illegal content on its platforms linked to the war in Gaza.']",0.0034252227352226,"In a statement shared with CNN, a spokesperson for Meta responded: “We want young people to have safe, age-appropriate experiences online and have spent a decade developing more than 50 tools and policies designed to protect them.","Earlier this month, an investigation by the New Mexico attorney general into the potential dangers of Meta’s platforms resulted in the arrests of three men charged with attempted sexual abuse of children.",-0.5164994522929192,"“We are not convinced that (Meta) has done enough to comply with the DSA obligations to mitigate the risks of negative effects to the physical and mental health of young Europeans,” Commissioner Thierry Breton, said in the statement. “","The European Union is worried that Meta is failing to protect children on its platforms, Facebook and Instagram, and has launched a formal investigation that could result in a hefty fine.",2024-05-21
+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.",2024-05-21
+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?,2024-05-21
+Two former MIT students charged with stealing $25 million of crypto in 12 seconds,https://edition.cnn.com/2024/05/16/investing/mit-crypto-hack/index.html,"
+  Published
+        11:17 AM EDT, Thu May 16, 2024
+    ","Two brothers who studied at the Massachusetts Institute of Technology were arrested on Wednesday on US charges that they carried out a cutting-edge scheme to exploit the Ethereum blockchain’s integrity and steal $25 million worth of cryptocurrency.
+    
+            Federal prosecutors in Manhattan called the scheme perpetrated by Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, “novel” and said the case marked the first time that such a fraud had ever been the subject of U.S. criminal charges.
+    
+            Authorities said they executed their elaborate heist in April 2023, stealing $25 million from traders in just 12 seconds by fraudulently gaining access to pending transactions and altering the movement of cryptocurrency.
+    
+            “As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said.
+    
+            An indictment charged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. Anton Peraire-Bueno was arrested in Boston, while James Peraire-Bueno was arrested in New York.
+    
+            Their lawyers did not immediately respond to requests for comment.
+    
+            Both brothers had attended Cambridge, Massachusetts-based MIT, where according to prosecutors they studied computer science and math and developed the skills and education they relied upon to carry out their fraud.
+    
+            The indictment alleged that for months, the Peraire-Bueno brothers plotted to manipulate and tamper with the protocols used to validate transactions for inclusion on the Ethereum blockchain, a public ledger that records each cryptocurrency transaction.
+    
+            Prosecutors said they did so by exploiting a vulnerability in the code of software called MEV-boost that is used by most Ethereum network “validators,” who are responsible for checking that new transactions are valid before they are added to the blockchain.
+    
+            Prosecutors said that after carrying out the heist, the brothers rejected requests to return the funds and instead took steps to launder and hide the stolen cryptocurrency.",CNN,16/05/2024,"['Twobrotherswho studied at the Massachusetts Institute of Technology were arrested on Wednesday on USchargesthat they carried out a cutting-edge scheme to exploit the Ethereum blockchain’s integrity and steal $25 million worth of cryptocurrency.', 'Federal prosecutors in Manhattan called the scheme perpetrated by Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, “novel” and said the case marked the first time that such a fraud had ever been the subject of U.S. criminalcharges.', 'Authorities said they executed their elaborate heist in April 2023, stealing $25 million from traders in just 12 seconds by fraudulently gaining access to pending transactions and altering the movement of cryptocurrency.', '“As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said.', 'Anindictmentcharged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering.', 'Anton Peraire-Bueno was arrested in Boston, while James Peraire-Bueno was arrested in New York.', 'Their lawyers did not immediately respond to requests for comment.', 'Bothbrothershad attended Cambridge, Massachusetts-based MIT, where according to prosecutors they studied computer science and math and developed the skills and education they relied upon to carry out their fraud.', 'The indictment alleged that for months, the Peraire-Buenobrothersplotted to manipulate and tamper with the protocols used to validate transactions for inclusion on the Ethereum blockchain, a public ledger that records each cryptocurrency transaction.', 'Prosecutors said they did so by exploiting a vulnerability in the code of software called MEV-boost that is used by most Ethereum network “validators,” who are responsible for checking that new transactions are valid before they are added to the blockchain.', 'Prosecutors said that after carrying out the heist, thebrothersrejected requests to return the funds and instead took steps to launder and hide the stolen cryptocurrency.']",-0.2908915216605268,"“As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said.","Anindictmentcharged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering.",-0.8155887126922607,,"“As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said.",2024-05-21
+Cazoo: What went wrong for the online used car retailer?,https://www.bbc.co.uk/news/articles/cjq55333xg9o,2024-05-21T15:25:24.710Z,"Online used car retailer Cazoo has fallen into administration, after cutting hundreds of jobs as part of a big restructuring. Cazoo became popular during the Covid pandemic when restrictions forced car buyers to browse and make their purchases online. But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars. That move has led to 728 redundancies, administrators Teneo said, after being appointed to try to find a buyer for the business. Teneo said the firm's 208 remaining staff would be retained for the time being during the administration process. It is a dramatic fall from grace for the business, which surged in popularity during the pandemic and subsequent lockdowns. Back in 2021, if you hadn't used Cazoo, you probably would have seen or heard of it. Its branding was splashed everywhere, with the company sponsoring Premier League football teams Aston Villa and Everton, as well as a host of other major sporting events like darts and snooker. Cazoo was different to other more traditional car dealers - it was a tech business trying to shake up a well-established order. The platform allowed shoppers to buy, part-exchange and finance vehicles entirely online. People could order while sitting on the sofa, and the vehicle would be delivered to their home in as little as 72 hours, with a seven-day returns policy. Launched in late 2019, the pandemic massively boosted the firm's fortunes. As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared. The environment fuelled an astonishing increase in the company's value. When it listed on the New York Stock Exchange in September 2021, it was valued at a whopping $7bn (£5bn). Now, its valuation has dropped to just $30m. In November 2021, Cazoo's founder Alex Chesterman - who also launched property website Zoopla and LoveFilm, a predecessor of Netflix - told the BBC that gaining just a small percentage of the market would create an ""enormous business"", arguing that Cazoo offered customers a simpler experience, greater choice and transparency on price. The platform went on to launch in France, Germany, Spain and Portugal. At its peak, Cazoo employed 4,500 people in 2021. But despite the mission to transform the car-selling industry, the feel-good factor surrounding Cazoo began to fade. One of the key people behind Cazoo's strong marketing campaign was Andrew Francos, who joined the company shortly before it launched. He says the early days were ""really exciting times"", but believes the firm expanded too quickly. ""Looking back I think Europe was a distraction,"" he says. ""I remember saying to someone, 'Are we going too soon?' I was probably naïve to just buy into the vision because I believed in it."" Mr Francos left Cazoo in October 2022, and admits he felt like he was departing a sinking ship, but adds: ""I did also think they would turn it around."" The business has never made a profit. While this is not unusual for a start-up - in fact, Mr Chesterman said he expected this to be the case for two or three years after going public - its losses grew, In 2022 it posted a loss of £704m, up from £544m the year before, and in December last year it restructured debts of $630m. According to Catherine Faiers, chief operating officer at car marketplace giant Auto Trader, while Covid saw a shift to online purchasing becoming the norm for many goods, ""cars are just fundamentally different to other things you buy"". She says the majority of UK consumers prefer a blended approach of researching online, but then seeing the car and speaking to a dealer in person before handing over their cash. ""Buying a car is a bit like buying a house. It's the second-most valuable thing that most people buy. We name our cars. When you ask people why they own a car it reads a bit like the American constitution - 'I own a car because it gives me freedom, it gives me independence, it's empowering,'"" Ms Faiers says. Kevin Gaskell, former managing director of Porsche, Lamborghini and BMW, says Cazoo's problems were down to a ""simple fact of trying to get a foothold in a very sophisticated, very established market"". ""They believed that they could come in and become an online retail business and provide a full service but car dealers are already doing that. There's nothing new in the model that they developed,"" he told the BBC's Today programme. ""They've spent a huge amount of money developing the brand. In terms of their revenue, it has got nowhere near where they expected it to be."" Mr Chesterman stepped aside as chief executive in January 2023 and perhaps the writing was on the wall for Cazoo when he left the company altogether in December. His replacement, Paul Whitehead, stepped down in March this year - the same time that Cazoo announced it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform, and wound down its European business. The company has said it explored ""strategic alternatives"" to insolvency, including selling off parts of its business, as it struggled to raise cash from investors, but no buyer came forward. When contacted by the BBC for comment on Cazoo's downfall, Mr Chesterman said he had had no involvement with the company for more than 18 months and declined to comment further. Philip Nothard, insight and strategy director at Cox Automotive, says Cazoo did force many of the established players to adapt, but as supply problems and microchip shortages have dissipated, it allowed others to catch up. ""They came in quick, they came in heavy, they came in with a concept that on the face of it worked in many ways,"" he adds ""[But] in time, established retailers could offer what Cazoo were offering. They could offer that digital omnichannel, e-commerce experience. And essentially they had a physical infrastructure already in place."" ",BBC,21/05/2024,"['Online used car retailer Cazoo has fallen into administration, after cutting hundreds of jobs as part of a big restructuring.', 'Cazoo became popular during the Covid pandemic when restrictions forced car buyers to browse and make their purchases online.', 'But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars.', 'That move has led to 728 redundancies, administrators Teneo said, after being appointed to try to find a buyer for the business.', ""Teneo said the firm's 208 remaining staff would be retained for the time being during the administration process."", 'It is a dramatic fall from grace for the business, which surged in popularity during the pandemic and subsequent lockdowns.', ""Back in 2021, if you hadn't used Cazoo, you probably would have seen or heard of it."", 'Its branding was splashed everywhere, with the company sponsoring Premier League football teams Aston Villa and Everton, as well as a host of other major sporting events like darts and snooker.', 'Cazoo was different to other more traditional car dealers - it was a tech business trying to shake up a well-established order.', 'The platform allowed shoppers to buy, part-exchange and finance vehicles entirely online.', 'People could order while sitting on the sofa, and the vehicle would be delivered to their home in as little as 72 hours, with a seven-day returns policy.', ""Launched in late 2019, the pandemic massively boosted the firm's fortunes."", ""As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared."", ""The environment fuelled an astonishing increase in the company's value."", 'When it listed on the New York Stock Exchange in September 2021, it was valued at a whopping $7bn (£5bn).', 'Now, its valuation has dropped to just $30m. In November 2021, Cazoo\'s founder Alex Chesterman - who also launched property website Zoopla and LoveFilm, a predecessor of Netflix - told the BBC that gaining just a small percentage of the market would create an ""enormous business"", arguing that Cazoo offered customers a simpler experience, greater choice and transparency on price.', 'The platform went on to launch in France, Germany, Spain and Portugal.', 'At its peak, Cazoo employed 4,500 people in 2021.', 'But despite the mission to transform the car-selling industry, the feel-good factor surrounding Cazoo began to fade.', ""One of the key people behind Cazoo's strong marketing campaign was Andrew Francos, who joined the company shortly before it launched."", 'He says the early days were ""really exciting times"", but believes the firm expanded too quickly. ""', 'Looking back I think Europe was a distraction,"" he says. ""', ""I remember saying to someone, 'Are we going too soon?'"", 'I was probably naïve to just buy into the vision because I believed in it.""', 'Mr Francos left Cazoo in October 2022, and admits he felt like he was departing a sinking ship, but adds: ""I did also think they would turn it around.""', 'The business has never made a profit.', 'While this is not unusual for a start-up - in fact, Mr Chesterman said he expected this to be the case for two or three years after going public - its losses grew, In 2022 it posted a loss of £704m, up from £544m the year before, and in December last year it restructured debts of $630m. According to Catherine Faiers, chief operating officer at car marketplace giant Auto Trader, while Covid saw a shift to online purchasing becoming the norm for many goods, ""cars are just fundamentally different to other things you buy"".', 'She says the majority of UK consumers prefer a blended approach of researching online, but then seeing the car and speaking to a dealer in person before handing over their cash. ""', 'Buying a car is a bit like buying a house.', ""It's the second-most valuable thing that most people buy."", 'We name our cars.', 'When you ask people why they own a car it reads a bit like the American constitution - \'I own a car because it gives me freedom, it gives me independence, it\'s empowering,\'"" Ms Faiers says.', 'Kevin Gaskell, former managing director of Porsche, Lamborghini and BMW, says Cazoo\'s problems were down to a ""simple fact of trying to get a foothold in a very sophisticated, very established market"". ""', 'They believed that they could come in and become an online retail business and provide a full service but car dealers are already doing that.', 'There\'s nothing new in the model that they developed,"" he told the BBC\'s Today programme. ""', ""They've spent a huge amount of money developing the brand."", 'In terms of their revenue, it has got nowhere near where they expected it to be.""', 'Mr Chesterman stepped aside as chief executive in January 2023 and perhaps the writing was on the wall for Cazoo when he left the company altogether in December.', 'His replacement, Paul Whitehead, stepped down in March this year - the same time that Cazoo announced it had sold off its remaining stock and switched to an online marketplace model, allowing car dealers to list their own stock on its platform, and wound down its European business.', 'The company has said it explored ""strategic alternatives"" to insolvency, including selling off parts of its business, as it struggled to raise cash from investors, but no buyer came forward.', ""When contacted by the BBC for comment on Cazoo's downfall, Mr Chesterman said he had had no involvement with the company for more than 18 months and declined to comment further."", 'Philip Nothard, insight and strategy director at Cox Automotive, says Cazoo did force many of the established players to adapt, but as supply problems and microchip shortages have dissipated, it allowed others to catch up. ""', 'They came in quick, they came in heavy, they came in with a concept that on the face of it worked in many ways,"" he adds ""[But] in time, established retailers could offer what Cazoo were offering.', 'They could offer that digital omnichannel, e-commerce experience.', 'And essentially they had a physical infrastructure already in place.""']",0.0980329638428384,"When you ask people why they own a car it reads a bit like the American constitution - 'I own a car because it gives me freedom, it gives me independence, it's empowering,'"" Ms Faiers says.","But the loss-making company has been struggling to raise money from investors, and in March changed its model from being a dealer, where it bought and sold cars itself, to a marketplace where consumers can buy and sell cars.",-0.3573331758379936,"Launched in late 2019, the pandemic massively boosted the firm's fortunes.","As well as Covid restrictions meaning people could only buy second-hand cars online, a worldwide microchip shortage that disrupted new vehicle manufacturing also played into Cazoo's hands as used car prices soared.",2024-05-21
+China trade: Beijing hits back at US and EU with plastics probe,https://www.bbc.co.uk/news/articles/cw004vvkj1xo,2024-05-20T02:04:40.429Z,"China has launched an anti-dumping probe into imports of a widely used plastic from the US, EU, Taiwan and Japan.  The announcement from the Ministry of Commerce that it will investigate imports of polyoxymethylene copolymer - which is used in electronics and cars - is a signal that China will hit back in its trade disputes with the US and Europe. It comes as China's trade rows with the US and the EU have deepened in recent months. Less than a week ago, Washington sharply increased tariffs on Chinese goods, including electric vehicles (EVs), solar panels and computer chips. The new US moves also expanded on sweeping border taxes that were imposed on Chinese goods under the Trump administration. In response, China's commerce ministry said the new moves would ""severely affect the atmosphere for bilateral cooperation"", and criticised what it characterised as the politicisation of economic issues. Ahead of the heavily-trailed White House announcement, a spokesperson for China's foreign ministry said it would ""take all necessary measures to safeguard its legitimate rights and interests"". Separately on Monday, China sanctioned three American defence firms over their sales of weapons to Taiwan, state media said. The announcement that General Atomics Aeronautical Systems, General Dynamics Land Systems, and Boeing Defense, Space & Security are barred from ""import and export"" business in China came as the self-ruled island inaugurated a new president. Senior executives of all three companies are banned from entering, working or living in China, the commerce ministry said. Meanwhile, Europe has launched a series of probes into Chinese imports. On Friday, the EU said it would launch an investigation into Chinese tinplate steel. And last month, Brussels said it was probing two Chinese solar panel makers, that it says benefit from government subsidies. The European Commission (EC), which oversees the EU's trade policies, has also given itself a 4 July deadline to decide whether to impose measures against imports of Chinese-made EVs. ",BBC,20/05/2024,"['China has launched an anti-dumping probe into imports of a widely used plastic from the US, EU, Taiwan and Japan.', 'The announcement from the Ministry of Commerce that it will investigate imports of polyoxymethylene copolymer - which is used in electronics and cars - is a signal that China will hit back in its trade disputes with the US and Europe.', ""It comes as China's trade rows with the US and the EU have deepened in recent months."", 'Less than a week ago, Washington sharply increased tariffs on Chinese goods, including electric vehicles (EVs), solar panels and computer chips.', 'The new US moves also expanded on sweeping border taxes that were imposed on Chinese goods under the Trump administration.', 'In response, China\'s commerce ministry said the new moves would ""severely affect the atmosphere for bilateral cooperation"", and criticised what it characterised as the politicisation of economic issues.', 'Ahead of the heavily-trailed White House announcement, a spokesperson for China\'s foreign ministry said it would ""take all necessary measures to safeguard its legitimate rights and interests"".', 'Separately on Monday, China sanctioned three American defence firms over their sales of weapons to Taiwan, state media said.', 'The announcement that General Atomics Aeronautical Systems, General Dynamics Land Systems, and Boeing Defense, Space & Security are barred from ""import and export"" business in China came as the self-ruled island inaugurated a new president.', 'Senior executives of all three companies are banned from entering, working or living in China, the commerce ministry said.', 'Meanwhile, Europe has launched a series of probes into Chinese imports.', 'On Friday, the EU said it would launch an investigation into Chinese tinplate steel.', 'And last month, Brussels said it was probing two Chinese solar panel makers, that it says benefit from government subsidies.', ""The European Commission (EC), which oversees the EU's trade policies, has also given itself a 4 July deadline to decide whether to impose measures against imports of Chinese-made EVs.""]",-0.0438265172752605,"The announcement that General Atomics Aeronautical Systems, General Dynamics Land Systems, and Boeing Defense, Space & Security are barred from ""import and export"" business in China came as the self-ruled island inaugurated a new president.","In response, China's commerce ministry said the new moves would ""severely affect the atmosphere for bilateral cooperation"", and criticised what it characterised as the politicisation of economic issues.",-0.6279851595560709,The new US moves also expanded on sweeping border taxes that were imposed on Chinese goods under the Trump administration.,"In response, China's commerce ministry said the new moves would ""severely affect the atmosphere for bilateral cooperation"", and criticised what it characterised as the politicisation of economic issues.",2024-05-21
+How can countries deal with falling birth rates?,https://www.bbc.co.uk/news/articles/c72p2vgd21no,2024-05-20T01:28:50.337Z,"The first thing you need to know about the so-called demographic timebomb facing countries such as the UK and US is to never call it that. With birth rates continuing to decline in both nations, it is tempting to use the timebomb term. However, it is greatly disliked by demographers, the experts that study population change. “Number one, I hate the phrase,” says Sarah Harper, professor of gerontology (the study of the impact of aging) at the University of Oxford. “I do not think there is a demographic timebomb, it is part of the demographic transition. We knew this was going to happen, and happen across the 21st Century. So, it is not unexpected, and we should have been preparing for this for some time.” However, the scale of the future problem is immense. For a country in the developed world to increase or maintain its population it needs a birth rate of 2.1 children per woman on average. This is known as the “replacement rate”. Yet the latest figures for England and Wales show that the average birth rate, also called the total fertility rate, declined to 1.49 children per woman in 2022, from 1.55 in 2021. The rate has been falling since 2010. It is a similar picture in Scotland and Northern Ireland, which record their data separately. Meanwhile, in the US the fertility rate fell last year to 1.62, a record low. Back in 1960 it was 3.65. “In fact, two thirds of the world’s countries now have childbirth rates below the replacement rate,” adds Prof Harper. “Japan is low, China is low, South Korea is the lowest in the world.” Population growth is really only limited to sub-Saharan Africa these days. But why the concern about falling birth rates? The economic problems they can cause are significant, as countries face the impact of both aging and declining populations, and a smaller workforce in relation to the number of pensioners. For example – where will a nation’s economic growth come from if companies cannot recruit enough workers? And how can a smaller workforce afford to pay for the pensions of a much larger retired population? Those are questions that make government economists wince. To try to increase birth rates, countries can make it easier for women to have children, by providing more generous childcare provision, such as tax breaks and extended, fully-paid maternity leave. In addition, companies could be compelled to offer new mums and dads more flexible working hours, and provide workplace creches. However, while such policies might slow the decline, they rarely reverse it. Put simply, the more women are educated, the more they work and save, the better their lives are. Many women would instead prefer not to take the hit to their earnings and career prospects that becoming a mother often causes. So they have fewer children, or none at all. There are basically two main ways in which a country can deal with a falling birth rate – you can keep your population heathier and employed for longer, or you can have large-scale immigration. Singapore is one of the fastest-ageing countries in the world, and it is going for the first option. “There is a lot of effort being put into raising the retirement age, training in middle life, and encouraging companies - which have to offer you re-employment up to the age of 69 - to hire older workers,” says Prof Angelique Chan. She is the inaugural executive director of Singapore’s Centre for Ageing Research & Education. By re-employment, Prof Chan means elderly workers being able to stay in work after they have reached retirement age, if they so wish. Currently the retirement age in Singapore is 63, but this is due to rise to 64 in 2026, and to 65 by 2030. By that year the age to which people in re-employment can stay in work is expected to have risen to 70. Prof Chan says that the Singaporean government is also increasing efforts to ensure that every citizen has a doctor “who must take care of you and monitor your condition, and make sure we have heathier cohorts who can continue to work”. She adds that Singapore is spending a huge amount of money “so we have the healthiest kind of population, giving people the opportunity to work [in their old age]”. In the US, Ronald Lee, emeritus professor of economics at the University of California, says that a growing number of elderly Americans are having to work to cover their living expenses. “If we look at the proportion of consumption of 65-year-olds and older in the USA that is funded by continuing to work, it is significantly higher than in other developed countries,” he says. Prof Lee adds that this is not a bad thing. “I think it is fundamental for the whole world, to get over the idea that older people are entitled to an indefinitely long period of leisure at the end of their life. “People are healthier, vigorous, cognitively sharper, and ready to go on at much older ages than used to be the case. I hope to see retirement ages rising well into the 70’s.” Currently, Americans only get a full social security pension from 66 years and two months. But that will gradually rise to 67. Prof Lee’s thoughts may not be very popular with many people, but economically it looks inevitable. As life expectancy increases it becomes increasingly difficult to afford ever longer retirements. Something has to give, and working longer is the obvious solution. There is, however, another answer to this problem, as Prof Harper makes clear - increased immigration. Yet this is obviously a hot political potato on both sides of the Atlantic. “Migration could easily solve the problem of lower birth rates from a demographic point of view,” she says. “There are political and policy issues, but demographically what we should be doing is allowing those countries with huge child-bearing rates, and with huge numbers of workers for maybe the next four decades, to be able to flow across the world and make up the slack.” We all know there are huge pressures against large-scale immigration, although even populist regimes often turn a blind eye to it when necessary. Elizabeth Kuiper, associate director of the European Policy Centre think tank, says Hungary is a case in point. Its government claims to have a zero-tolerance attitude to migrants, but “we know that while these countries will not admit it publicly, in sectors like care and health care they have developed unspoken strategies for selective migration”. The problem is, of course, that in most of the developed world immigration is nowhere near the level necessary to make up for an aging population, and yet it is already deeply unpopular. The demographic experts know something has to give – countries will need to make people work longer, or increase immigration, and probably both. But to do that needs political consensus, and politicians know that asking people to approve additional immigration, and the need to work for more years in later life, is not a vote winner.  Have the wheels come off for Tesla? The rise of Sweden's super rich Why US economy is powering ahead of Europe's How Chinese firms are using Mexico as a backdoor to the US Ibiza locals living in cars as party island sees rents soar ",BBC,20/05/2024,"['The first thing you need to know about the so-called demographic timebomb facing countries such as the UK and US is to never call it that.', 'With birth rates continuing to decline in both nations, it is tempting to use the timebomb term.', 'However, it is greatly disliked by demographers, the experts that study population change. “', 'Number one, I hate the phrase,” says Sarah Harper, professor of gerontology (the study of the impact of aging) at the University of Oxford. “', 'I do not think there is a demographic timebomb, it is part of the demographic transition.', 'We knew this was going to happen, and happen across the 21st Century.', 'So, it is not unexpected, and we should have been preparing for this for some time.”', 'However, the scale of the future problem is immense.', 'For a country in the developed world to increase or maintain its population it needs a birth rate of 2.1 children per woman on average.', 'This is known as the “replacement rate”.', 'Yet the latest figures for England and Wales show that the average birth rate, also called the total fertility rate, declined to 1.49 children per woman in 2022, from 1.55 in 2021.', 'The rate has been falling since 2010.', 'It is a similar picture in Scotland and Northern Ireland, which record their data separately.', 'Meanwhile, in the US the fertility rate fell last year to 1.62, a record low.', 'Back in 1960 it was 3.65. “', 'In fact, two thirds of the world’s countries now have childbirth rates below the replacement rate,” adds Prof Harper. “', 'Japan is low, China is low, South Korea is the lowest in the world.”', 'Population growth is really only limited to sub-Saharan Africa these days.', 'But why the concern about falling birth rates?', 'The economic problems they can cause are significant, as countries face the impact of both aging and declining populations, and a smaller workforce in relation to the number of pensioners.', 'For example – where will a nation’s economic growth come from if companies cannot recruit enough workers?', 'And how can a smaller workforce afford to pay for the pensions of a much larger retired population?', 'Those are questions that make government economists wince.', 'To try to increase birth rates, countries can make it easier for women to have children, by providing more generous childcare provision, such as tax breaks and extended, fully-paid maternity leave.', 'In addition, companies could be compelled to offer new mums and dads more flexible working hours, and provide workplace creches.', 'However, while such policies might slow the decline, they rarely reverse it.', 'Put simply, the more women are educated, the more they work and save, the better their lives are.', 'Many women would instead prefer not to take the hit to their earnings and career prospects that becoming a mother often causes.', 'So they have fewer children, or none at all.', 'There are basically two main ways in which a country can deal with a falling birth rate – you can keep your population heathier and employed for longer, or you can have large-scale immigration.', 'Singapore is one of the fastest-ageing countries in the world, and it is going for the first option. “', 'There is a lot of effort being put into raising the retirement age, training in middle life, and encouraging companies - which have to offer you re-employment up to the age of 69 - to hire older workers,” says Prof Angelique Chan.', 'She is the inaugural executive director of Singapore’s Centre for Ageing Research & Education.', 'By re-employment, Prof Chan means elderly workers being able to stay in work after they have reached retirement age, if they so wish.', 'Currently the retirement age in Singapore is 63, but this is due to rise to 64 in 2026, and to 65 by 2030.', 'By that year the age to which people in re-employment can stay in work is expected to have risen to 70.', 'Prof Chan says that the Singaporean government is also increasing efforts to ensure that every citizen has a doctor “who must take care of you and monitor your condition, and make sure we have heathier cohorts who can continue to work”.', 'She adds that Singapore is spending a huge amount of money “so we have the healthiest kind of population, giving people the opportunity to work [in their old age]”.', 'In the US, Ronald Lee, emeritus professor of economics at the University of California, says that a growing number of elderly Americans are having to work to cover their living expenses. “', 'If we look at the proportion of consumption of 65-year-olds and older in the USA that is funded by continuing to work, it is significantly higher than in other developed countries,” he says.', 'Prof Lee adds that this is not a bad thing. “', 'I think it is fundamental for the whole world, to get over the idea that older people are entitled to an indefinitely long period of leisure at the end of their life. “', 'People are healthier, vigorous, cognitively sharper, and ready to go on at much older ages than used to be the case.', 'I hope to see retirement ages rising well into the 70’s.”', 'Currently, Americans only get a full social security pension from 66 years and two months.', 'But that will gradually rise to 67.', 'Prof Lee’s thoughts may not be very popular with many people, but economically it looks inevitable.', 'As life expectancy increases it becomes increasingly difficult to afford ever longer retirements.', 'Something has to give, and working longer is the obvious solution.', 'There is, however, another answer to this problem, as Prof Harper makes clear - increased immigration.', 'Yet this is obviously a hot political potato on both sides of the Atlantic. “', 'Migration could easily solve the problem of lower birth rates from a demographic point of view,” she says. “', 'There are political and policy issues, but demographically what we should be doing is allowing those countries with huge child-bearing rates, and with huge numbers of workers for maybe the next four decades, to be able to flow across the world and make up the slack.”', 'We all know there are huge pressures against large-scale immigration, although even populist regimes often turn a blind eye to it when necessary.', 'Elizabeth Kuiper, associate director of the European Policy Centre think tank, says Hungary is a case in point.', 'Its government claims to have a zero-tolerance attitude to migrants, but “we know that while these countries will not admit it publicly, in sectors like care and health care they have developed unspoken strategies for selective migration”.', 'The problem is, of course, that in most of the developed world immigration is nowhere near the level necessary to make up for an aging population, and yet it is already deeply unpopular.', 'The demographic experts know something has to give – countries will need to make people work longer, or increase immigration, and probably both.', 'But to do that needs political consensus, and politicians know that asking people to approve additional immigration, and the need to work for more years in later life, is not a vote winner.', 'Have the wheels come off for Tesla?', ""The rise of Sweden's super rich Why US economy is powering ahead of Europe's How Chinese firms are using Mexico as a backdoor to the US Ibiza locals living in cars as party island sees rents soar""]",0.0991835909144296,"Its government claims to have a zero-tolerance attitude to migrants, but “we know that while these countries will not admit it publicly, in sectors like care and health care they have developed unspoken strategies for selective migration”.","Japan is low, China is low, South Korea is the lowest in the world.”",0.0011644137316736,By that year the age to which people in re-employment can stay in work is expected to have risen to 70.,"Meanwhile, in the US the fertility rate fell last year to 1.62, a record low.",2024-05-21
+Cuba laments collapse of iconic sugar industry,https://www.bbc.co.uk/news/world-latin-america-68935247,2024-05-18T00:34:58.000Z,"The men of the Yumuri sugar co-operative in Cuba have worked the cane fields around the city of Cienfuegos since they were old enough to wield a machete. Cutting cane is all Miguel Guzmán has ever known. He comes from a family of farm hands and started the tough, thankless work as a teenager. For hundreds of years, sugar was the mainstay of the Cuban economy. It was not just the island's main export but also the cornerstone of another national industry, rum.  Older Cubans remember when the island was essentially built on the backs of families like Mr Guzmán's. Today, though, he readily admits he has never seen the sugar industry as broken and depressed as it is now - not even when the Soviet Union's lucrative sugar quotas dried up after the Cold War. Spiralling inflation, shortages of basic goods and the decades-long US economic embargo have made for a dire economic outlook across the board in Cuba. But things are particularly bleak in the sugar trade. ""There's not enough trucks and the fuel shortages mean sometimes several days pass before we can work,"" says Miguel, waiting in a tiny patch of shade for the Soviet-era lorries to arrive. The lost hours of harvest as men and machinery lie idle have acutely hurt production levels.  Last season, Cuba's production fell to just 350,000 tonnes of raw sugar, an all-time low for the country, and well below the 1.3 million tonnes recorded in 2019. Miguel is one of the fastest cutters in his team - or pelotón - recognised by his bosses as among the most efficient in the country. Yet he says he receives no financial incentive for greater production beyond his love of the trade.  ""My wages barely buy anything any more,"" he says with no hint of exaggeration over the worsening inflation in the country. ""But what can we do? Cuba needs the sugar."" It certainly does: Cuba now imports sugar to meet domestic demand - once unthinkable, and a far cry from the glory years when Cuban sugar was the envy of the Caribbean and exported around the world. Inside Ciudad Caracas, a 19th-Century sugar mill near Cienfuegos, the air is thick with the overpowering smell of molasses.  As obsolete, rusting cogs grind tonnes of sugarcane into pulp and juice, the workers tell me it is one of just two dozen working sugar mills in Cuba. ""That's four more than originally planned for this season, thanks to the hard work and effort of the workers,"" says Dionis Pérez, communications director of the state-run sugar company, Azcuba. ""But the other 29 are at a standstill,"" he acknowledges. ""It's a disaster. Today the sugar industry in Cuba almost doesn't exist,"" says Juan Triana of the Centre for Studies of the Cuban Economy in Havana.  The slump in sugar has serious implications for other parts of the Cuban economy, he argues, including on its export earnings from rum. ""We're producing the same quantity of sugar Cuba produced in the middle of the 19th Century.""  The problems have undoubtedly been worsened by the ""maximum pressure"" policy brought in by former US President Donald Trump. His administration ratcheted up the trade embargo on the island, a measure later extended by President Joe Biden. But the issues facing Cuban sugar are not solely the fault of the US embargo.  Years of chronic mismanagement and underinvestment have also wrecked the once-thriving industry. Today, sugar receives less than 3% of state investment as the Cuban government backs tourism as its main economic motor instead. One man who can still get his hands on enough sugar is Martin Nizarane. Part of a new breed of Cuban private entrepreneurs, his company Clamanta produces yoghurt and ice cream in a factory outside Havana.  As Mr Nizarane shows me sacks of sugar imported in bulk from Colombia, he says he hopes to double production soon.  The business has been hailed by Cuban President Miguel Díaz-Canel as a model for the future.  That praise from the top, to many, amounts to a paradigm shift.  It may still be considered a dirty word by the Cuban state but this is capitalism pure and simple, even if Martin Nizarane displays his revolutionary credentials by adorning his office with photographs of him hugging the late revolutionary leader, Fidel Castro. I put it to him that only people with close ties to the Cuban Communist Party can own a private business as sophisticated as his.  He was quick to deny it.  ""I am not an employee of the Cuban state. This is a non-state form of production which sells to both other non-state entities and state-owned companies,"" he retorts. ""The state treats me like just another private entrepreneur with no special privileges whatsoever."" Sugar's demise is just one part of Cuba's faltering economy.  On 1 March, amid growing inflation, the government imposed a five-fold price increase on subsidised fuel at the petrol pumps.  It was a difficult but overdue decision, officials said, arguing the government could no longer afford such high subsidies on fuel. As he queued to fill up his tank on the day the new prices came into force, Manuel Domínguez said he was not convinced.  All he knows is that the measure is hurting drivers like him, and that Cubans are suffering now more than he can ever recall. ""There's no relationship between what we earn and the prices we see - whether that's fuel or food in the shops or anything else."" ""There needs to be a correlation between our wages and what things cost because, right now, for the average Cuban, fuel is simply unaffordable."" A few days later, economy and planning minister Alejandro Gil Fernández was arrested for alleged corruption. Some think he has been made a scapegoat for the state of the Cuban economy.  Either way, it was an extraordinary - and very public - fall from grace. But most think it will take much more than one ministerial head to roll to pull Cuba from its economic woes. Back in the sugarcane fields of Cienfuegos, the cutters carry out their gruelling work with little optimism.  Invariably, when talking about the sugar industry in Cuba, someone will quote the island's famous refrain: ""Without sugar, there's no country."" For Cuban economist Juan Triana that idea is being tested to its limit.  A quintessential part of the national identity - part of the island's very DNA - is being eroded before Cubans' eyes.  ""For more than maybe 150 years, the industry of the sugarcane was both the main export income and the locomotive for the rest of the economy. That's what we've lost."" ",BBC,18/05/2024,"['The men of the Yumuri sugar co-operative in Cuba have worked the cane fields around the city of Cienfuegos since they were old enough to wield a machete.', 'Cutting cane is all Miguel Guzmán has ever known.', 'He comes from a family of farm hands and started the tough, thankless work as a teenager.', 'For hundreds of years, sugar was the mainstay of the Cuban economy.', ""It was not just the island's main export but also the cornerstone of another national industry, rum."", ""Older Cubans remember when the island was essentially built on the backs of families like Mr Guzmán's."", ""Today, though, he readily admits he has never seen the sugar industry as broken and depressed as it is now - not even when the Soviet Union's lucrative sugar quotas dried up after the Cold War."", 'Spiralling inflation, shortages of basic goods and the decades-long US economic embargo have made for a dire economic outlook across the board in Cuba.', 'But things are particularly bleak in the sugar trade. ""', 'There\'s not enough trucks and the fuel shortages mean sometimes several days pass before we can work,"" says Miguel, waiting in a tiny patch of shade for the Soviet-era lorries to arrive.', 'The lost hours of harvest as men and machinery lie idle have acutely hurt production levels.', ""Last season, Cuba's production fell to just 350,000 tonnes of raw sugar, an all-time low for the country, and well below the 1.3 million tonnes recorded in 2019."", 'Miguel is one of the fastest cutters in his team - or pelotón - recognised by his bosses as among the most efficient in the country.', 'Yet he says he receives no financial incentive for greater production beyond his love of the trade. ""', 'My wages barely buy anything any more,"" he says with no hint of exaggeration over the worsening inflation in the country. ""', 'But what can we do?', 'Cuba needs the sugar.""', 'It certainly does: Cuba now imports sugar to meet domestic demand - once unthinkable, and a far cry from the glory years when Cuban sugar was the envy of the Caribbean and exported around the world.', 'Inside Ciudad Caracas, a 19th-Century sugar mill near Cienfuegos, the air is thick with the overpowering smell of molasses.', 'As obsolete, rusting cogs grind tonnes of sugarcane into pulp and juice, the workers tell me it is one of just two dozen working sugar mills in Cuba. ""', 'That\'s four more than originally planned for this season, thanks to the hard work and effort of the workers,"" says Dionis Pérez, communications director of the state-run sugar company, Azcuba. ""', 'But the other 29 are at a standstill,"" he acknowledges. ""', ""It's a disaster."", 'Today the sugar industry in Cuba almost doesn\'t exist,"" says Juan Triana of the Centre for Studies of the Cuban Economy in Havana.', 'The slump in sugar has serious implications for other parts of the Cuban economy, he argues, including on its export earnings from rum. ""', 'We\'re producing the same quantity of sugar Cuba produced in the middle of the 19th Century.""', 'The problems have undoubtedly been worsened by the ""maximum pressure"" policy brought in by former US President Donald Trump.', 'His administration ratcheted up the trade embargo on the island, a measure later extended by President Joe Biden.', 'But the issues facing Cuban sugar are not solely the fault of the US embargo.', 'Years of chronic mismanagement and underinvestment have also wrecked the once-thriving industry.', 'Today, sugar receives less than 3% of state investment as the Cuban government backs tourism as its main economic motor instead.', 'One man who can still get his hands on enough sugar is Martin Nizarane.', 'Part of a new breed of Cuban private entrepreneurs, his company Clamanta produces yoghurt and ice cream in a factory outside Havana.', 'As Mr Nizarane shows me sacks of sugar imported in bulk from Colombia, he says he hopes to double production soon.', 'The business has been hailed by Cuban President Miguel Díaz-Canel as a model for the future.', 'That praise from the top, to many, amounts to a paradigm shift.', 'It may still be considered a dirty word by the Cuban state but this is capitalism pure and simple, even if Martin Nizarane displays his revolutionary credentials by adorning his office with photographs of him hugging the late revolutionary leader, Fidel Castro.', 'I put it to him that only people with close ties to the Cuban Communist Party can own a private business as sophisticated as his.', 'He was quick to deny it. ""', 'I am not an employee of the Cuban state.', 'This is a non-state form of production which sells to both other non-state entities and state-owned companies,"" he retorts. ""', 'The state treats me like just another private entrepreneur with no special privileges whatsoever.""', ""Sugar's demise is just one part of Cuba's faltering economy."", 'On 1 March, amid growing inflation, the government imposed a five-fold price increase on subsidised fuel at the petrol pumps.', 'It was a difficult but overdue decision, officials said, arguing the government could no longer afford such high subsidies on fuel.', 'As he queued to fill up his tank on the day the new prices came into force, Manuel Domínguez said he was not convinced.', 'All he knows is that the measure is hurting drivers like him, and that Cubans are suffering now more than he can ever recall. ""', 'There\'s no relationship between what we earn and the prices we see - whether that\'s fuel or food in the shops or anything else."" ""', 'There needs to be a correlation between our wages and what things cost because, right now, for the average Cuban, fuel is simply unaffordable.""', 'A few days later, economy and planning minister Alejandro Gil Fernández was arrested for alleged corruption.', 'Some think he has been made a scapegoat for the state of the Cuban economy.', 'Either way, it was an extraordinary - and very public - fall from grace.', 'But most think it will take much more than one ministerial head to roll to pull Cuba from its economic woes.', 'Back in the sugarcane fields of Cienfuegos, the cutters carry out their gruelling work with little optimism.', 'Invariably, when talking about the sugar industry in Cuba, someone will quote the island\'s famous refrain: ""Without sugar, there\'s no country.""', 'For Cuban economist Juan Triana that idea is being tested to its limit.', 'A quintessential part of the national identity - part of the island\'s very DNA - is being eroded before Cubans\' eyes. ""', 'For more than maybe 150 years, the industry of the sugarcane was both the main export income and the locomotive for the rest of the economy.', 'That\'s what we\'ve lost.""']",-0.0434389662663717,"Yet he says he receives no financial incentive for greater production beyond his love of the trade. ""","Today, though, he readily admits he has never seen the sugar industry as broken and depressed as it is now - not even when the Soviet Union's lucrative sugar quotas dried up after the Cold War.",-0.3151909013589223,"That's four more than originally planned for this season, thanks to the hard work and effort of the workers,"" says Dionis Pérez, communications director of the state-run sugar company, Azcuba. ""","Spiralling inflation, shortages of basic goods and the decades-long US economic embargo have made for a dire economic outlook across the board in Cuba.",2024-05-21
+Ryanair sees rises in air fares easing over summer,https://www.bbc.co.uk/news/articles/cd11x3lqj20o,2024-05-20T06:50:37.177Z,"No-frills airline Ryanair has said fares during the peak summer season are set to be unchanged or only ""modestly"" higher than last year. The carrier said while it expected ""strong"" demand for flights in July and August, airfares had been growing slower than expected recently. Airline boss Michael O'Leary said this could be down to a ""recessionary feel around Europe"". His comments came as Ryanair said profits for the year to March jumped 34% to €1.92bn (£1.64bn) after fares rose by a fifth. Demand for air travel has been increasing steadily ever since the Covid pandemic restrictions were lifted. In the past few weeks, British Airways owner IAG and EasyJet have both been forecasting strong demand for flights this summer. Ryanair said it carried 183.7 million passengers in the year to March, with average fares up 21% to €49.80. It said it had seen record trading last summer, and strong traffic over Easter in March. However, this was offset by a fall in numbers at the end of last year, after Ryanair flights were removed from several online travel agents. The airline said bookings for this summer were ahead of last year, although fares were not as high as it had expected. ""We still see reasonable strength in July and August bookings, the peak summer months, but April, May and June are a little bit weaker than we had originally expected,"" Mr O'Leary said. ""We remain cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of summer 2023,"" he added “It’s a little bit surprising that pricing hasn’t been stronger and we’re not sure if that’s kind of consumer sentiment , or recessionary feel around Europe."" Ryanair, which has been hampered in its expansion plans by delays to the delivery of new Boeing planes, said it could carry 198-200 million customers this year if the new aircraft are delivered on schedule. It said there was a risk the deliveries could ""slip further"", but Mr O'Leary said he thought this was ""unlikely"". However, the airline said it would be short of about 23 Boeing 737s that were due to arrive by the end of July. Mr O'Leary said Ryanair would receive compensation from Boeing for the delays, although it would be ""modest"" and did not reflect the cost to the airline of having to cut back its growth plans. The carrier said it was continuing to work closely with the aerospace giant to improve quality and increase the pace of deliveries. Boeing's planes have come under intense focus once again after the  company was plunged into a crisis in January when a panel on one of its aircraft blew out in mid-air.  Scrutiny over Boeing's plane manufacturing processes has led to a slowdown in deliveries. Boeing boss Dave Calhoun has said he will step down from the planemaker at the end of the year. Mr O'Leary said Ryanair welcomed Boeing's management changes, and ""already we’re seeing improved quality on our aircraft deliveries but sadly not yet enough progress on accelerating those deliveries"". Ryanair did not give any profit forecasts for the current year, saying that was ""heavily dependent"" upon avoiding adverse events such as the wars in Ukraine and the Middle East, extensive air traffic control disruptions or further Boeing delivery delays. ",BBC,20/05/2024,"['No-frills airline Ryanair has said fares during the peak summer season are set to be unchanged or only ""modestly"" higher than last year.', 'The carrier said while it expected ""strong"" demand for flights in July and August, airfares had been growing slower than expected recently.', 'Airline boss Michael O\'Leary said this could be down to a ""recessionary feel around Europe"".', 'His comments came as Ryanair said profits for the year to March jumped 34% to €1.92bn (£1.64bn) after fares rose by a fifth.', 'Demand for air travel has been increasing steadily ever since the Covid pandemic restrictions were lifted.', 'In the past few weeks, British Airways owner IAG and EasyJet have both been forecasting strong demand for flights this summer.', 'Ryanair said it carried 183.7 million passengers in the year to March, with average fares up 21% to €49.80.', 'It said it had seen record trading last summer, and strong traffic over Easter in March.', 'However, this was offset by a fall in numbers at the end of last year, after Ryanair flights were removed from several online travel agents.', 'The airline said bookings for this summer were ahead of last year, although fares were not as high as it had expected. ""', 'We still see reasonable strength in July and August bookings, the peak summer months, but April, May and June are a little bit weaker than we had originally expected,"" Mr O\'Leary said. ""', 'We remain cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of summer 2023,"" he added “It’s a little bit surprising that pricing hasn’t been stronger and we’re not sure if that’s kind of consumer sentiment , or recessionary feel around Europe.""', 'Ryanair, which has been hampered in its expansion plans by delays to the delivery of new Boeing planes, said it could carry 198-200 million customers this year if the new aircraft are delivered on schedule.', 'It said there was a risk the deliveries could ""slip further"", but Mr O\'Leary said he thought this was ""unlikely"".', 'However, the airline said it would be short of about 23 Boeing 737s that were due to arrive by the end of July.', 'Mr O\'Leary said Ryanair would receive compensation from Boeing for the delays, although it would be ""modest"" and did not reflect the cost to the airline of having to cut back its growth plans.', 'The carrier said it was continuing to work closely with the aerospace giant to improve quality and increase the pace of deliveries.', ""Boeing's planes have come under intense focus once again after the company was plunged into a crisis in January when a panel on one of its aircraft blew out in mid-air."", ""Scrutiny over Boeing's plane manufacturing processes has led to a slowdown in deliveries."", 'Boeing boss Dave Calhoun has said he will step down from the planemaker at the end of the year.', 'Mr O\'Leary said Ryanair welcomed Boeing\'s management changes, and ""already we’re seeing improved quality on our aircraft deliveries but sadly not yet enough progress on accelerating those deliveries"".', 'Ryanair did not give any profit forecasts for the current year, saying that was ""heavily dependent"" upon avoiding adverse events such as the wars in Ukraine and the Middle East, extensive air traffic control disruptions or further Boeing delivery delays.']",0.022353811237513,"We remain cautiously optimistic that peak summer 2024 fares will be flat to modestly ahead of summer 2023,"" he added “It’s a little bit surprising that pricing hasn’t been stronger and we’re not sure if that’s kind of consumer sentiment , or recessionary feel around Europe.""","Ryanair did not give any profit forecasts for the current year, saying that was ""heavily dependent"" upon avoiding adverse events such as the wars in Ukraine and the Middle East, extensive air traffic control disruptions or further Boeing delivery delays.",0.1990700244903564,"Ryanair said it carried 183.7 million passengers in the year to March, with average fares up 21% to €49.80.",Scrutiny over Boeing's plane manufacturing processes has led to a slowdown in deliveries.,2024-05-21
+AI 'godfather' says universal basic income will be needed,https://www.bbc.co.uk/news/articles/cnd607ekl99o,2024-05-18T13:18:15.919Z,"The computer scientist regarded as the “godfather of artificial intelligence” says the government will have to establish a universal basic income to deal with the impact of AI on inequality. Professor Geoffrey Hinton told BBC Newsnight that a benefits reform giving fixed amounts of cash to every citizen would be needed because he was “very worried about AI taking lots of mundane jobs”. “I was consulted by people in Downing Street and I advised them that universal basic income was a good idea,” he said.  He said while he felt AI would increase productivity and wealth, the money would go to the rich “and not the people whose jobs get lost and that’s going to be very bad for society”. Professor Hinton is the pioneer of neural networks, which form the theoretical basis of the current explosion in artificial intelligence.  Until last year he worked at Google, but left the tech giant so he could talk more freely about the dangers from unregulated AI.  The concept of a universal basic income amounts to the government paying all individuals a set salary regardless of their means. Critics say it would be extremely costly and divert funding away from public services, while not necessarily helping to alleviate poverty. A government spokesman said there were ""no plans to introduce a universal basic income"".  Professor Hinton reiterated his concern that there were human extinction-level threats emerging.  Developments over the last year showed governments were unwilling to rein in military use of AI, he said, while the competition to develop products rapidly meant there was a risk tech companies wouldn't “put enough effort into safety”. Professor Hinton said ""my guess is in between five and 20 years from now there’s a probability of half that we’ll have to confront the problem of AI trying to take over"".  This would lead to an “extinction-level threat” for humans because we could have “created a form of intelligence that is just better than biological intelligence… That's very worrying for us”. AI could “evolve”, he said, “to get the motivation to make more of itself” and could autonomously “develop a sub-goal of getting control”.  He said there was already evidence of large language models - a type of AI algorithm used to generate text - choosing to be deceptive.  He said recent applications of AI to generate thousands of military targets were the “thin end of the wedge”.  “What I’m most concerned about is when these can autonomously make the decision to kill people,"" he said. Professor Hinton said something similar to the Geneva Conventions - the international treaties that establish legal standards for humanitarian treatment in war - may be needed to regulate the military use of AI. ""But I don't think that's going to happen until after very nasty things have happened,” he added. Asked if the West was in a Manhattan Project-style race - referring to nuclear weapons research during World War Two - with autocracies such as Russia and China on the military use of AI, Professor Hinton replied: “[Russian President Vladimir] Putin said some years ago that whoever controls AI controls the world. So I imagine they're working very hard.  ""Fortunately, the West is probably well ahead of them in research. We're probably still slightly ahead of China. But China's putting more resources in. And so in terms of military uses I think there's going to be a race”. He said a better solution would be a prohibition on military uses of AI.  ",BBC,18/05/2024,"['The computer scientist regarded as the “godfather of artificial intelligence” says the government will have to establish a universal basic income to deal with the impact of AI on inequality.', 'Professor Geoffrey Hinton told BBC Newsnight that a benefits reform giving fixed amounts of cash to every citizen would be needed because he was “very worried about AI taking lots of mundane jobs”. “', 'I was consulted by people in Downing Street and I advised them that universal basic income was a good idea,” he said.', 'He said while he felt AI would increase productivity and wealth, the money would go to the rich “and not the people whose jobs get lost and that’s going to be very bad for society”.', 'Professor Hinton is the pioneer of neural networks, which form the theoretical basis of the current explosion in artificial intelligence.', 'Until last year he worked at Google, but left the tech giant so he could talk more freely about the dangers from unregulated AI.', 'The concept of a universal basic income amounts to the government paying all individuals a set salary regardless of their means.', 'Critics say it would be extremely costly and divert funding away from public services, while not necessarily helping to alleviate poverty.', 'A government spokesman said there were ""no plans to introduce a universal basic income"".', 'Professor Hinton reiterated his concern that there were human extinction-level threats emerging.', ""Developments over the last year showed governments were unwilling to rein in military use of AI, he said, while the competition to develop products rapidly meant there was a risk tech companies wouldn't “put enough effort into safety”."", 'Professor Hinton said ""my guess is in between five and 20 years from now there’s a probability of half that we’ll have to confront the problem of AI trying to take over"".', ""This would lead to an “extinction-level threat” for humans because we could have “created a form of intelligence that is just better than biological intelligence… That's very worrying for us”."", 'AI could “evolve”, he said, “to get the motivation to make more of itself” and could autonomously “develop a sub-goal of getting control”.', 'He said there was already evidence of large language models - a type of AI algorithm used to generate text - choosing to be deceptive.', 'He said recent applications of AI to generate thousands of military targets were the “thin end of the wedge”. “', 'What I’m most concerned about is when these can autonomously make the decision to kill people,"" he said.', 'Professor Hinton said something similar to the Geneva Conventions - the international treaties that establish legal standards for humanitarian treatment in war - may be needed to regulate the military use of AI. ""', ""But I don't think that's going to happen until after very nasty things have happened,” he added."", 'Asked if the West was in a Manhattan Project-style race - referring to nuclear weapons research during World War Two - with autocracies such as Russia and China on the military use of AI, Professor Hinton replied: “[Russian President Vladimir] Putin said some years ago that whoever controls AI controls the world.', 'So I imagine they\'re working very hard. ""', 'Fortunately, the West is probably well ahead of them in research.', ""We're probably still slightly ahead of China."", ""But China's putting more resources in."", ""And so in terms of military uses I think there's going to be a race”."", 'He said a better solution would be a prohibition on military uses of AI.']",-0.027017192741244,He said a better solution would be a prohibition on military uses of AI.,"Critics say it would be extremely costly and divert funding away from public services, while not necessarily helping to alleviate poverty.",0.1888855174183845,"He said while he felt AI would increase productivity and wealth, the money would go to the rich “and not the people whose jobs get lost and that’s going to be very bad for society”.","Developments over the last year showed governments were unwilling to rein in military use of AI, he said, while the competition to develop products rapidly meant there was a risk tech companies wouldn't “put enough effort into safety”.",2024-05-21
+"Rates should be cut to 3.5% by end of 2025, IMF says",https://www.bbc.co.uk/news/articles/cldd6x6gglxo,2024-05-21T10:16:27.932Z,"UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended. Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%. The IMF's comments came as it upgraded its UK's growth forecast for 2024, but it it advised against any further tax cuts. Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"". Mr Hunt added that the IMF had ""forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects"". Labour’s shadow chief secretary Darren Jones said the Conservatives had left the country in ""economic chaos"".  ""Millions of people are paying more on their mortgages, prices are still rising in the shops and the UK economy has been rocked by a mini-budget that left working families worse off,"" he said. Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country's finances, bringing public services to their knees"". The IMF is an international organisation with 190 member countries, including the UK. They work together to try to stabilise the global economy. One of the Fund's jobs is to advise its members on how to improve their economies. The IMF said the UK's economy was ""approaching a soft landing” after last year's mild recession. It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025. While UK inflation, the rate at which prices increase, is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the year, before “durably” settling at the target rate in early 2025, the Fund said. When it came to interest rate cuts, the IMF noted the Bank had to balance the risk of not cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth.  But speaking at a news conference, Ali Abbas, the IMF UK mission chief, said the Fund recommended cutting the current Bank rate of 5.25% to either 4.75% or 4.5% by the end of the year. It also recommended further cuts in 2025, taking the rate as low as 3.5%. “Our recommendation is for 50-75 basis points [0.5-0.75% points] this year, plus we project and this is also this is our recommendation of 100 basis points [1% point] cuts in 2025,"" Mr Abbas said. The IMF warned the next government faced “difficult choices” on taxes and spending, and said it would not have recommended the recent cuts to National Insurance ""given their significant cost"". The Fund assumes that the government will have to spend significantly more on public services over the next five years, meaning that its self-imposed target for falling debt as a share of national income will not be met. This leads to a gap of about 1% of UK gross domestic product (GDP), or £30bn a year. Given the state of the public finances, the IMF said it would ""advise against additional tax cuts"". In January, the Fund had also advised against tax cuts but the government announced another cut to National Insurance in the March Budget.   IMF managing director Kristalina Georgieva told a news conference that the UK needed to bolster its public finances, which were hit by heavy spending during the Covid pandemic. ""We are genuinely concerned, not just for the UK, [but] for all countries that have used fiscal buffers extensively, that they must do more to rebuild these buffers,"" she said. ""In a world of more uncertainty, we do not know when there may be again a call on governments to have to borrow more to spend more."" The report’s key long-term concern was a lack of workers arising from long-term illness and fewer foreign workers. It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates. The IMF suggests extra tax revenue from road usage, VAT, inheritance and property should be required. It also advises the end of the triple lock on the state pension - a government promise to raise it by the rate of earnings, inflation or 2.5%, whichever is highest - and instead pegging increases to inflation alone. The IMF also pointedly advised the government to “stay the course on climate policy”, after recent delays to net zero policy timetables, for example, on electric cars. The annual report is the conclusion of a team of IMF economists who have spent months meeting policymakers and businesses as part of what is known as the Article IV process. But economic forecasters are not always right with their predictions and the IMF and UK government have disagreed in the past over previous projections. ",BBC,21/05/2024,"['UK interest rates should be cut to 3.5% by the end of next year, the International Monetary Fund (IMF) has recommended.', 'Such a move could see the Bank of England cut its key rate by up to seven times from its current level of 5.25%.', ""The IMF's comments came as it upgraded its UK's growth forecast for 2024, but it it advised against any further tax cuts."", 'Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"".', 'Mr Hunt added that the IMF had ""forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects"".', 'Labour’s shadow chief secretary Darren Jones said the Conservatives had left the country in ""economic chaos"". ""', 'Millions of people are paying more on their mortgages, prices are still rising in the shops and the UK economy has been rocked by a mini-budget that left working families worse off,"" he said.', 'Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country\'s finances, bringing public services to their knees"".', 'The IMF is an international organisation with 190 member countries, including the UK.', 'They work together to try to stabilise the global economy.', ""One of the Fund's jobs is to advise its members on how to improve their economies."", 'The IMF said the UK\'s economy was ""approaching a soft landing” after last year\'s mild recession.', 'It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025.', ""While UK inflation, the rate at which prices increase, is expected to fall close to the Bank of England's target of 2% on Wednesday, it is then set to rise a little over the course of the rest of the year, before “durably” settling at the target rate in early 2025, the Fund said."", 'When it came to interest rate cuts, the IMF noted the Bank had to balance the risk of not cutting too quickly before inflation is under control, against that of keeping rates too high, which could hit growth.', 'But speaking at a news conference, Ali Abbas, the IMF UK mission chief, said the Fund recommended cutting the current Bank rate of 5.25% to either 4.75% or 4.5% by the end of the year.', 'It also recommended further cuts in 2025, taking the rate as low as 3.5%. “', 'Our recommendation is for 50-75 basis points [0.5-0.75% points] this year, plus we project and this is also this is our recommendation of 100 basis points [1% point] cuts in 2025,"" Mr Abbas said.', 'The IMF warned the next government faced “difficult choices” on taxes and spending, and said it would not have recommended the recent cuts to National Insurance ""given their significant cost"".', 'The Fund assumes that the government will have to spend significantly more on public services over the next five years, meaning that its self-imposed target for falling debt as a share of national income will not be met.', 'This leads to a gap of about 1% of UK gross domestic product (GDP), or £30bn a year.', 'Given the state of the public finances, the IMF said it would ""advise against additional tax cuts"".', 'In January, the Fund had also advised against tax cuts but the government announced another cut to National Insurance in the March Budget.', 'IMF managing director Kristalina Georgieva told a news conference that the UK needed to bolster its public finances, which were hit by heavy spending during the Covid pandemic. ""', 'We are genuinely concerned, not just for the UK, [but] for all countries that have used fiscal buffers extensively, that they must do more to rebuild these buffers,"" she said. ""', 'In a world of more uncertainty, we do not know when there may be again a call on governments to have to borrow more to spend more.""', 'The report’s key long-term concern was a lack of workers arising from long-term illness and fewer foreign workers.', 'It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates.', 'The IMF suggests extra tax revenue from road usage, VAT, inheritance and property should be required.', 'It also advises the end of the triple lock on the state pension - a government promise to raise it by the rate of earnings, inflation or 2.5%, whichever is highest - and instead pegging increases to inflation alone.', 'The IMF also pointedly advised the government to “stay the course on climate policy”, after recent delays to net zero policy timetables, for example, on electric cars.', 'The annual report is the conclusion of a team of IMF economists who have spent months meeting policymakers and businesses as part of what is known as the Article IV process.', 'But economic forecasters are not always right with their predictions and the IMF and UK government have disagreed in the past over previous projections.']",-0.123904855719287,"Chancellor Jeremy Hunt said the report ""clearly shows that independent international economists agree that the UK economy has turned a corner"".","It suggested that if there was a new global financial crisis, “a shock to UK sovereign risk premia cannot be ruled out” which would push up interest rates.",0.0678097248077392,"It upgraded its growth forecast marginally for this year from 0.5% to 0.7%, and predicted growth of 1.5% in 2025.","Liberal Democrat Treasury spokesperson Sarah Olney said the government had ""blown a black hole in the country's finances, bringing public services to their knees"".",2024-05-21
+"Food price rises returning to normal, Kantar survey says",https://www.bbc.co.uk/news/articles/c0xxwz00nz9o,2024-05-21T07:02:53.205Z,"Food price rises are returning to ""more normal"" rates, research suggests, although shoppers are still seeking out cheaper own-brand goods. Grocery price inflation - the rate at which prices increase - has fallen to 2.4%, according to research firm Kantar, the lowest since October 2021. The findings come ahead of official figures due on Wednesday which are expected to show a sharp drop in overall inflation.  The easing of price rises has raised expectations that the Bank of England will cut interest rates this summer. Kantar said that despite the easing of food price rises, shoppers were still following money-saving habits. ""Typically, an inflation rate of around 3% is when we start to see marked changes in consumers’ behaviour, with shoppers trading down to cheaper items when the rate goes above this line and vice versa when the rate drops,"" said Fraser McKevitt, head of retail and consumer insight at Kantar. ""However, after nearly two and a half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis. ""Own-label lines are proving resilient, for example, and they are still growing faster than brands, making up over half (52%) of total spending."" Sales of premium own-label ranges remained popular, up by 9.9% from a year earlier. Kantar also said it expected summer sports events such as the Euro 2024 men’s football tournament and the Olympic Games to boost sales, especially alcoholic drinks. ""During England’s quarter final match against France in the 2022 FIFA Men’s World Cup, take-home beer sales hit their biggest daily takings of the year outside of Christmas,"" Mr McKevitt said.  Overall inflation peaked at 11.1% in late 2022, but increases in prices for food and non-alcoholic drinks were running at a rate of almost 20% last year - the highest since the 1970s. In response, the Bank of England increased interest rates in a bid to slow price rises.  The theory is that if you make borrowing more expensive, people have less money to spend, or may choose to save more as saving rates go up. This in turn reduces demand for goods and helps cool inflation. The Bank's key rate now stands at 5.25% - a 16-year high - but as inflation has fallen there has been intense speculation over when the rate will be cut. The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released on Wednesday is expected to see the rate drop close to the Bank's target of 2%. On Monday, Bank deputy governor Ben Broadbent said that a rate cut at ""some time"" over the summer was ""possible"". ",BBC,21/05/2024,"['Food price rises are returning to ""more normal"" rates, research suggests, although shoppers are still seeking out cheaper own-brand goods.', 'Grocery price inflation - the rate at which prices increase - has fallen to 2.4%, according to research firm Kantar, the lowest since October 2021.', 'The findings come ahead of official figures due on Wednesday which are expected to show a sharp drop in overall inflation.', 'The easing of price rises has raised expectations that the Bank of England will cut interest rates this summer.', 'Kantar said that despite the easing of food price rises, shoppers were still following money-saving habits. ""', 'Typically, an inflation rate of around 3% is when we start to see marked changes in consumers’ behaviour, with shoppers trading down to cheaper items when the rate goes above this line and vice versa when the rate drops,"" said Fraser McKevitt, head of retail and consumer insight at Kantar. ""', 'However, after nearly two and a half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis. ""', 'Own-label lines are proving resilient, for example, and they are still growing faster than brands, making up over half (52%) of total spending.""', 'Sales of premium own-label ranges remained popular, up by 9.9% from a year earlier.', 'Kantar also said it expected summer sports events such as the Euro 2024 men’s football tournament and the Olympic Games to boost sales, especially alcoholic drinks. ""', 'During England’s quarter final match against France in the 2022 FIFA Men’s World Cup, take-home beer sales hit their biggest daily takings of the year outside of Christmas,"" Mr McKevitt said.', 'Overall inflation peaked at 11.1% in late 2022, but increases in prices for food and non-alcoholic drinks were running at a rate of almost 20% last year - the highest since the 1970s.', 'In response, the Bank of England increased interest rates in a bid to slow price rises.', 'The theory is that if you make borrowing more expensive, people have less money to spend, or may choose to save more as saving rates go up.', 'This in turn reduces demand for goods and helps cool inflation.', ""The Bank's key rate now stands at 5.25% - a 16-year high - but as inflation has fallen there has been intense speculation over when the rate will be cut."", ""The most recent inflation data showed that prices rose by 3.2% in the year to March, although the figure released on Wednesday is expected to see the rate drop close to the Bank's target of 2%."", 'On Monday, Bank deputy governor Ben Broadbent said that a rate cut at ""some time"" over the summer was ""possible"".']",0.0362971434939468,"In response, the Bank of England increased interest rates in a bid to slow price rises.",The Bank's key rate now stands at 5.25% - a 16-year high - but as inflation has fallen there has been intense speculation over when the rate will be cut.,0.4910678677260875,"Sales of premium own-label ranges remained popular, up by 9.9% from a year earlier.","Grocery price inflation - the rate at which prices increase - has fallen to 2.4%, according to research firm Kantar, the lowest since October 2021.",2024-05-21
+Children top up pocket money with extra work,https://www.bbc.co.uk/news/articles/c1004pnd44eo,2024-05-21T00:59:57.722Z,"Children are getting paid for chores at home and developing side hustles to top up pocket money, a report has claimed. Financially stretched parents are less likely to give youngsters a weekly allowance than they were the previous year, according to NatWest Rooster Money. But children are supplementing their incomes, thanks to completing other work at home and for themselves. That takes overall weekly income up by 3p on a year earlier to £9.23, the report estimates. The findings are based on data drawn from more than 300,000 children aged between 6 and 17 who use the NatWest Rooster Money pocket money app and prepaid card. As such, it can only be an estimate, and will not include children who do not receive any money at all. It suggests that a shrinking proportion of families, with children using the app, now pay pocket money as part of a regular routine. In this data, about 30% pay regular pocket money, compared with 32% a year earlier, with youngsters most commonly receiving it on a Saturday. A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier. Mowing the lawn, cleaning the car, cleaning the windows and gardening are the most lucrative, according to the report. Others are developing their own income, primarily through paper rounds and reselling their possessions, it found. The BBC spoke to a group of youngsters attending a youth club who said they were developing an entrepreneurial spirit. ""I don't really get pocket money but I have my own little business [applying glitter tattoos],"" said Scarlett, aged 10. ""So far, out of all of the parties I've done this year, I've probably got like 100 and something pounds."" Nine-year-old Holly said: ""Every week I get £1.50 and I do tasks. I make my bed, I do the dishwasher, I do the dusting, I clean my bedroom, I put my clothes away. ""My favourite thing to spend it on is probably sweets."" And Joe, 12, said: ""I don't get pocket money but I am good at home so if I get an accomplishment I will get £10."" Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested. But Joe has something else in mind. ""Probably saving up for a car. I know I'm 12 but every pocket money counts."" ",BBC,21/05/2024,"['Children are getting paid for chores at home and developing side hustles to top up pocket money, a report has claimed.', 'Financially stretched parents are less likely to give youngsters a weekly allowance than they were the previous year, according to NatWest Rooster Money.', 'But children are supplementing their incomes, thanks to completing other work at home and for themselves.', 'That takes overall weekly income up by 3p on a year earlier to £9.23, the report estimates.', 'The findings are based on data drawn from more than 300,000 children aged between 6 and 17 who use the NatWest Rooster Money pocket money app and prepaid card.', 'As such, it can only be an estimate, and will not include children who do not receive any money at all.', 'It suggests that a shrinking proportion of families, with children using the app, now pay pocket money as part of a regular routine.', 'In this data, about 30% pay regular pocket money, compared with 32% a year earlier, with youngsters most commonly receiving it on a Saturday.', 'A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier.', 'Mowing the lawn, cleaning the car, cleaning the windows and gardening are the most lucrative, according to the report.', 'Others are developing their own income, primarily through paper rounds and reselling their possessions, it found.', 'The BBC spoke to a group of youngsters attending a youth club who said they were developing an entrepreneurial spirit. ""', 'I don\'t really get pocket money but I have my own little business [applying glitter tattoos],"" said Scarlett, aged 10. ""', 'So far, out of all of the parties I\'ve done this year, I\'ve probably got like 100 and something pounds.""', 'Nine-year-old Holly said: ""Every week I get £1.50 and I do tasks.', 'I make my bed, I do the dishwasher, I do the dusting, I clean my bedroom, I put my clothes away. ""', 'My favourite thing to spend it on is probably sweets.""', 'And Joe, 12, said: ""I don\'t get pocket money but I am good at home so if I get an accomplishment I will get £10.""', 'Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested.', 'But Joe has something else in mind. ""', 'Probably saving up for a car.', 'I know I\'m 12 but every pocket money counts.""']",0.1819051599651064,"Children were most likely to want to save up in order to spend on gaming and holidays, the report suggested.",,-0.197792100906372,"That takes overall weekly income up by 3p on a year earlier to £9.23, the report estimates.",A greater proportion than that are paid for chores - about 40% - although this was also down from 47% a year earlier.,2024-05-21
+Who is Paula Vennells? Ex-Post Office boss in Horizon IT inquiry,https://www.bbc.co.uk/news/articles/cjq5g95e8vpo,2024-05-16T12:42:46.588Z,"Ex-Post Office boss Paula Vennells is set to give evidence this week as part of the inquiry into the Horizon IT scandal. Ms Vennells was chief executive of the Post Office from 2012 to 2019, which included the last few years of the scandal. Between 1999 and 2015, more than 900 sub-postmasters were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts. Despite living a relatively private life, Ms Vennells, 65, is now one of the most recognisable faces of the scandal. Earlier this year, she was portrayed by actress Lia Williams in the ITV drama Mr Bates Vs The Post Office. Since the programme aired, she has only been spotted once in public, refusing to answer questions from a Channel 4 reporter on whether there had been a cover-up at the Post Office, as she cycled away from a church cemetery. The ITV drama also highlighted her position as an ordained priest - a role she pursued before she joined the Post Office - having trained as a Church of England deacon between 2002 and 2005 before eventually becoming ordained in 2006. Ms Vennells served at several churches in Bedfordshire and was interviewed for the position of the Bishop of London in 2017. She relinquished her clerical duties in 2021 but remains an ordained priest. Ms Vennells grew up in the north west of England and went to the University of Bradford to study French, Russian and Economics, where she met her future husband John. After graduating in 1981, she took the first step in her business career with a job at Unilever. She went on to work in management positions at big brands such as Argos, Dixons, L'Oréal, Morrisons, Dunelm and Whitbread. After leaving the Post Office in 2019, she acted as a non-executive board member at the Cabinet Office for a year, and also became chairman of Imperial College Healthcare NHS Trust but resigned in December 2020 citing personal reasons. But it is her role at the Post Office that is under scrutiny. Ms Vennells joined the Post Office in 2007 as a group network director, and was promoted to chief executive in 2012, the same year that the Post Office split from Royal Mail. During her time at the Post Office there were periods of financial struggle, which forced thousands of post offices across the country to close. Many that remained were modernised and the Post Office went from losing millions a year to making a profit. Ms Vennells was photographed visiting several of the modernised branches and meeting those who ran them. In pictures, she is nearly always seen wearing her staple pearl earrings. During her time leading the Post Office, Ms Vennells earned a total of £5.1m, peaking in 2018 when she took home £718,300 in salary, bonuses, pensions and other benefits. Ms Vennells faced increasing criticism and scrutiny of how she dealt with the investigation into the Horizon software while she worked at the Post Office. She is widely quoted as calling the Horizon computer system ""robust"". The last time she spoke publicly about the scandal was nearly a decade ago, in 2015, when she was questioned by a committee of MPs. Former chancellor Nadhim Zahawi was on the Commons business committee at the time, and notably played himself for free when the scene was recreated in the ITV drama. He asked Ms Vennells why emails from 2009 were not given to private investigators and whether they would be. Ms Vennells said: ""We have shared whatever information is appropriate."" However, private investigator Ian Henderson denied that this was the case. Ms Vennells stepped down from the Post Office in 2019.  At the start of that year she appeared on the New Years Honours List and was awarded a CBE for services to the Post Office and to charity. But by December 2019, the High Court had concluded that the faulty Horizon software was to blame for shortfalls in branch accounts. And as the ITV drama brought more national outrage over the Horizon scandal, this year legislation was introduced to overturn all sub-postmasters' convictions. Ms Vennells handed back her CBE in January this year, saying she was listening to ""calls from sub-postmasters and others"" to return the honour. Those same sub-postmasters and others will eagerly await her testimony before the inquiry, where she is scheduled to appear for three days starting on Wednesday 22 May. ",BBC,16/05/2024,"['Ex-Post Office boss Paula Vennells is set to give evidence this week as part of the inquiry into the Horizon IT scandal.', 'Ms Vennells was chief executive of the Post Office from 2012 to 2019, which included the last few years of the scandal.', 'Between 1999 and 2015, more than 900 sub-postmasters were wrongly prosecuted after faulty software said money was missing from Post Office branch accounts.', 'Despite living a relatively private life, Ms Vennells, 65, is now one of the most recognisable faces of the scandal.', 'Earlier this year, she was portrayed by actress Lia Williams in the ITV drama Mr Bates Vs The Post Office.', 'Since the programme aired, she has only been spotted once in public, refusing to answer questions from a Channel 4 reporter on whether there had been a cover-up at the Post Office, as she cycled away from a church cemetery.', 'The ITV drama also highlighted her position as an ordained priest - a role she pursued before she joined the Post Office - having trained as a Church of England deacon between 2002 and 2005 before eventually becoming ordained in 2006.', 'Ms Vennells served at several churches in Bedfordshire and was interviewed for the position of the Bishop of London in 2017.', 'She relinquished her clerical duties in 2021 but remains an ordained priest.', 'Ms Vennells grew up in the north west of England and went to the University of Bradford to study French, Russian and Economics, where she met her future husband John.', 'After graduating in 1981, she took the first step in her business career with a job at Unilever.', ""She went on to work in management positions at big brands such as Argos, Dixons, L'Oréal, Morrisons, Dunelm and Whitbread."", 'After leaving the Post Office in 2019, she acted as a non-executive board member at the Cabinet Office for a year, and also became chairman of Imperial College Healthcare NHS Trust but resigned in December 2020 citing personal reasons.', 'But it is her role at the Post Office that is under scrutiny.', 'Ms Vennells joined the Post Office in 2007 as a group network director, and was promoted to chief executive in 2012, the same year that the Post Office split from Royal Mail.', 'During her time at the Post Office there were periods of financial struggle, which forced thousands of post offices across the country to close.', 'Many that remained were modernised and the Post Office went from losing millions a year to making a profit.', 'Ms Vennells was photographed visiting several of the modernised branches and meeting those who ran them.', 'In pictures, she is nearly always seen wearing her staple pearl earrings.', 'During her time leading the Post Office, Ms Vennells earned a total of £5.1m, peaking in 2018 when she took home £718,300 in salary, bonuses, pensions and other benefits.', 'Ms Vennells faced increasing criticism and scrutiny of how she dealt with the investigation into the Horizon software while she worked at the Post Office.', 'She is widely quoted as calling the Horizon computer system ""robust"".', 'The last time she spoke publicly about the scandal was nearly a decade ago, in 2015, when she was questioned by a committee of MPs.', 'Former chancellor Nadhim Zahawi was on the Commons business committee at the time, and notably played himself for free when the scene was recreated in the ITV drama.', 'He asked Ms Vennells why emails from 2009 were not given to private investigators and whether they would be.', 'Ms Vennells said: ""We have shared whatever information is appropriate.""', 'However, private investigator Ian Henderson denied that this was the case.', 'Ms Vennells stepped down from the Post Office in 2019.', 'At the start of that year she appeared on the New Years Honours List and was awarded a CBE for services to the Post Office and to charity.', 'But by December 2019, the High Court had concluded that the faulty Horizon software was to blame for shortfalls in branch accounts.', ""And as the ITV drama brought more national outrage over the Horizon scandal, this year legislation was introduced to overturn all sub-postmasters' convictions."", 'Ms Vennells handed back her CBE in January this year, saying she was listening to ""calls from sub-postmasters and others"" to return the honour.', 'Those same sub-postmasters and others will eagerly await her testimony before the inquiry, where she is scheduled to appear for three days starting on Wednesday 22 May.']",-0.0483923325126942,At the start of that year she appeared on the New Years Honours List and was awarded a CBE for services to the Post Office and to charity.,"And as the ITV drama brought more national outrage over the Horizon scandal, this year legislation was introduced to overturn all sub-postmasters' convictions.",-0.1830947756767273,"During her time leading the Post Office, Ms Vennells earned a total of £5.1m, peaking in 2018 when she took home £718,300 in salary, bonuses, pensions and other benefits.","But by December 2019, the High Court had concluded that the faulty Horizon software was to blame for shortfalls in branch accounts.",2024-05-21
+35-year mortgages: 'I had no choice but to get one',https://www.bbc.co.uk/news/articles/cn3dded32j2o,2024-05-19T00:47:54.856Z,"Young homebuyers are facing huge challenges when it comes to getting on - and staying on - the housing ladder.  Nicola Webb, a 34-year-old nurse, felt she had little choice but to opt for an ultra-long mortgage when purchasing her first home last year. It's set to end when she is 68, but she says stretching out the repayments is ""the only way I can just about afford my mortgage as a single homeowner"". “I've not known lower mortgage rates so I just accept what it is.” Despite the fact that she managed to save a chunky deposit for her £147,000 two-bedroom flat in Gloucestershire, Nicola's five-year fixed rate mortgage costs £598 a month - about a third of her monthly wages after tax and student loan deductions. Once her student loan is paid off - or eventually written off - she hopes to reduce the length of her mortgage term from 35 years, or look at using any extra disposable income to overpay it. She says she's grateful she has been able to get on the housing ladder at all. While mortgage costs take up a large part of her income, she thinks it is still cheaper than renting in her local area. ""I was having no luck at all with renting... and for me it's all about trying to keep it as cheap as possible."" Recent figures suggest that Nicola's situation is becoming more and more common. Data from the Bank of England shows that hundreds of thousands of homeowners have taken out mortgages in the last three years that they will still be paying off into retirement. While longer mortgage terms might make repayments more affordable in the here and now, homeowners will be paying off more overall in interest. Some industry figures have also expressed concern that buyers may not be able to afford a mortgage once they retire and will raid their pension savings to clear their home loan, leaving them with less to live on in old age. But for some, a longer term of 35 or 40 years is seen as a temporary solution as they wait to see if mortgage rates will fall back from relative highs. Martin Tapper, a mortgage broker based in Essex, told the BBC that most of the first-time buyers he has advised this year have opted for 40-year terms. ""A young family can escape exorbitant rent costs in order to purchase a home where the mortgage cost is far cheaper on a longer term,"" he suggests. He adds he would only guide a client to these longer terms if they were the ""right kind"", saying he always recommends switching back to a shorter term later on if possible, for example if a client's wage has gone up or if they're moving home. And, he says, it is vital to get insurance to protect against payments becoming tricky if someone's health deteriorates or they lose their job. For 30-year-old Shane Lees, weighing up the pros and cons of an ultra-long mortgage has been a serious undertaking. He and his partner are remortgaging so that they can buy a three-bedroom house in West Sussex where they can start a family.  After speaking to six or seven mortgage brokers, they have decided to choose a mortgage term of 35 years, dropping down to 25 years at the end of a two-year fixed deal. Shane says that he and his partner are now less likely to go for something at the top end of their budget due to the prospect of higher monthly repayments. They have opted for a lender Shane describes as ""realistic"", which would be willing to renegotiate at the end of the two-year fixed deal, while most were offering a rate of about 5.5%. The pressure faced by younger homeowners like Shane is pretty clear, with the sharp rise in the proportion of mortgages that run beyond state pension age. The number of homeowners aged under 30 taking out such mortgages more than doubled over the two-year period, while for those aged under 40 the number was up 30%. But Sarah Coles, head of personal finance at Hargreaves Lansdown, says people shouldn't bank on interest rates being lower when they come to reduce the term later. ""Economists are constantly changing their expectations for when the Bank of England will cut rates.  ""Back in January some of them were predicting cuts as early as March, and now we’re expecting them this summer instead. Even then, cuts aren’t expected particularly rapidly, so anyone holding their breath for much lower rates will have quite a wait on their hands."" She suggests that those on a 35 or 40-year mortgage need not only a plan in place to pay it off, but also a plan B for life's ""unexpected twists and turns"". For example, if you're carrying your mortgage into retirement and expect to sell up and downsize to clear the debt, you need to think about what to do if you change your mind and want to stay in your home, she says. ""It can be exactly what people need to make their mortgage more affordable, but they need to appreciate the wider implications."" For homeowners like Shane, he appreciates there may be risks attached but feels he's in a lucky position to have this problem in the first place. Additional reporting by Bernadette McCague. Read more here ",BBC,19/05/2024,"['Young homebuyers are facing huge challenges when it comes to getting on - and staying on - the housing ladder.', 'Nicola Webb, a 34-year-old nurse, felt she had little choice but to opt for an ultra-long mortgage when purchasing her first home last year.', 'It\'s set to end when she is 68, but she says stretching out the repayments is ""the only way I can just about afford my mortgage as a single homeowner"". “', ""I've not known lower mortgage rates so I just accept what it is.”"", ""Despite the fact that she managed to save a chunky deposit for her £147,000 two-bedroom flat in Gloucestershire, Nicola's five-year fixed rate mortgage costs £598 a month - about a third of her monthly wages after tax and student loan deductions."", 'Once her student loan is paid off - or eventually written off - she hopes to reduce the length of her mortgage term from 35 years, or look at using any extra disposable income to overpay it.', ""She says she's grateful she has been able to get on the housing ladder at all."", 'While mortgage costs take up a large part of her income, she thinks it is still cheaper than renting in her local area. ""', 'I was having no luck at all with renting... and for me it\'s all about trying to keep it as cheap as possible.""', ""Recent figures suggest that Nicola's situation is becoming more and more common."", 'Data from the Bank of England shows that hundreds of thousands of homeowners have taken out mortgages in the last three years that they will still be paying off into retirement.', 'While longer mortgage terms might make repayments more affordable in the here and now, homeowners will be paying off more overall in interest.', 'Some industry figures have also expressed concern that buyers may not be able to afford a mortgage once they retire and will raid their pension savings to clear their home loan, leaving them with less to live on in old age.', 'But for some, a longer term of 35 or 40 years is seen as a temporary solution as they wait to see if mortgage rates will fall back from relative highs.', 'Martin Tapper, a mortgage broker based in Essex, told the BBC that most of the first-time buyers he has advised this year have opted for 40-year terms. ""', 'A young family can escape exorbitant rent costs in order to purchase a home where the mortgage cost is far cheaper on a longer term,"" he suggests.', 'He adds he would only guide a client to these longer terms if they were the ""right kind"", saying he always recommends switching back to a shorter term later on if possible, for example if a client\'s wage has gone up or if they\'re moving home.', ""And, he says, it is vital to get insurance to protect against payments becoming tricky if someone's health deteriorates or they lose their job."", 'For 30-year-old Shane Lees, weighing up the pros and cons of an ultra-long mortgage has been a serious undertaking.', 'He and his partner are remortgaging so that they can buy a three-bedroom house in West Sussex where they can start a family.', 'After speaking to six or seven mortgage brokers, they have decided to choose a mortgage term of 35 years, dropping down to 25 years at the end of a two-year fixed deal.', 'Shane says that he and his partner are now less likely to go for something at the top end of their budget due to the prospect of higher monthly repayments.', 'They have opted for a lender Shane describes as ""realistic"", which would be willing to renegotiate at the end of the two-year fixed deal, while most were offering a rate of about 5.5%.', 'The pressure faced by younger homeowners like Shane is pretty clear, with the sharp rise in the proportion of mortgages that run beyond state pension age.', 'The number of homeowners aged under 30 taking out such mortgages more than doubled over the two-year period, while for those aged under 40 the number was up 30%.', 'But Sarah Coles, head of personal finance at Hargreaves Lansdown, says people shouldn\'t bank on interest rates being lower when they come to reduce the term later. ""', 'Economists are constantly changing their expectations for when the Bank of England will cut rates. ""', 'Back in January some of them were predicting cuts as early as March, and now we’re expecting them this summer instead.', 'Even then, cuts aren’t expected particularly rapidly, so anyone holding their breath for much lower rates will have quite a wait on their hands.""', 'She suggests that those on a 35 or 40-year mortgage need not only a plan in place to pay it off, but also a plan B for life\'s ""unexpected twists and turns"".', 'For example, if you\'re carrying your mortgage into retirement and expect to sell up and downsize to clear the debt, you need to think about what to do if you change your mind and want to stay in your home, she says. ""', 'It can be exactly what people need to make their mortgage more affordable, but they need to appreciate the wider implications.""', ""For homeowners like Shane, he appreciates there may be risks attached but feels he's in a lucky position to have this problem in the first place."", 'Additional reporting by Bernadette McCague.', 'Read more here']",0.1786289152445031,"The pressure faced by younger homeowners like Shane is pretty clear, with the sharp rise in the proportion of mortgages that run beyond state pension age.","Even then, cuts aren’t expected particularly rapidly, so anyone holding their breath for much lower rates will have quite a wait on their hands.""",0.403078269213438,"The number of homeowners aged under 30 taking out such mortgages more than doubled over the two-year period, while for those aged under 40 the number was up 30%.","Some industry figures have also expressed concern that buyers may not be able to afford a mortgage once they retire and will raid their pension savings to clear their home loan, leaving them with less to live on in old age.",2024-05-21
+Industry bosses cast doubt on jobs 'bootcamp' plans,https://www.bbc.co.uk/news/articles/c4nnlj2889eo,2024-05-21T03:23:31.819Z,"Industry bosses have cast doubt on new plans for skills ""bootcamps"" for unemployed Britons as part of government efforts to plug gaps in the jobs market left by overseas workers. The government already runs intensive training ""bootcamps"" to help people out of work retrain in many sectors, but new, initial plans will focus on industries hit hardest by labour shortages from new migration rules. Work and pensions secretary Mel Stride said the UK had relied on foreign labour ""for too long"". But industry figures suggested the plans may not be enough for businesses that are at ""breaking point"". Under the latest plans, benefits claimants would be given training for roles in key sectors facing shortages including hospitality, care, construction and manufacturing. The new model will be partly based on the measures introduced in 2021 to target a chronic shortage of HGV drivers, which included skills ""bootcamps"" and Jobcentre training schemes. Mr Stride said: ""It's a plan providing more opportunities for people here at home to get on, to progress, and to increase their pay. ""I know this presents a recruitment challenge for some employers in certain sectors, particularly those that have relied more on migration in the past. ""For too long we have relied on labour from abroad when there is great talent right here in the UK - I am determined to put that right."" Mr Stride will also chair a new cross-government taskforce to develop recruitment initiatives for industries with major shortages. Kate Nicholls, chief executive of UK Hospitality, said the trade body was pleased to be working with the government to fill ""crucial gaps"" in the workforce. However, the Recruitment and Employment Confederation questioned the prioritisation of British workers over foreign workers when employers are struggling to fill many job postings. ""The bottom line is that many British businesses are at breaking point because of labour shortages,"" said Kate Shoesmith, its deputy chief executive. ""It shouldn't be about picking winners or employing British workers over foreigners. It is about creating the right conditions for long-term, sustainable economic growth"".  Engineering and manufacturing organisation Make UK said many employers were not aware of existing ""bootcamps"" and that any new measures needed to be promoted properly.  Meanwhile, TUC general secretary Paul Nowak suggested the announcement did not include enough detail on its implementation, describing it as ""performative politics"". Labour also dismissed the proposals as a ""talking shop"" that would not deal with the scale of the problem. The plans, overseen by a new ministerial taskforce headed by Mr Stride, come ahead of official net migration statistics set to be published on Thursday. Net migration in the UK - the difference between the number of people coming and those leaving - hit a record high of 745,000 in 2022. Since then, the government has announced a set of measures aimed at significantly cutting the number of people entering Britain. These include drastically hiking the salary threshold for skilled workers to £38,700 and reforms to make it harder for Britons earning under the national average to bring over foreign spouses. Mr Stride acknowledged the new rules, which aim to reduce the number of people arriving in Britain by 300,000, present a ""recruitment challenge"" for employers. He insisted the government was building a new economic model ""based on British talent"". Shadow work and pensions secretary Alison McGovern accused the government of ""running down our skills and training system"". She said: ""We now have record levels of net migration. They should be putting in place proper plans to tackle worker shortages and adopting Labour's plans to connect the immigration system to skills."" Liberal Democrat work and pensions spokeswoman, Wendy Chamberlain, said: ""In many ways this is an admission that the Conservatives have no plan to tackle the biggest reason that people are unable to work, which is that NHS waiting lists are through the roof. ""Thousands are struggling to access the healthcare they need, meaning people are unable to go back to work. ""We will only get the economy back fighting fit by fixing the health crisis,"" she added. ",BBC,21/05/2024,"['Industry bosses have cast doubt on new plans for skills ""bootcamps"" for unemployed Britons as part of government efforts to plug gaps in the jobs market left by overseas workers.', 'The government already runs intensive training ""bootcamps"" to help people out of work retrain in many sectors, but new, initial plans will focus on industries hit hardest by labour shortages from new migration rules.', 'Work and pensions secretary Mel Stride said the UK had relied on foreign labour ""for too long"".', 'But industry figures suggested the plans may not be enough for businesses that are at ""breaking point"".', 'Under the latest plans, benefits claimants would be given training for roles in key sectors facing shortages including hospitality, care, construction and manufacturing.', 'The new model will be partly based on the measures introduced in 2021 to target a chronic shortage of HGV drivers, which included skills ""bootcamps"" and Jobcentre training schemes.', 'Mr Stride said: ""It\'s a plan providing more opportunities for people here at home to get on, to progress, and to increase their pay. ""', 'I know this presents a recruitment challenge for some employers in certain sectors, particularly those that have relied more on migration in the past. ""', 'For too long we have relied on labour from abroad when there is great talent right here in the UK - I am determined to put that right.""', 'Mr Stride will also chair a new cross-government taskforce to develop recruitment initiatives for industries with major shortages.', 'Kate Nicholls, chief executive of UK Hospitality, said the trade body was pleased to be working with the government to fill ""crucial gaps"" in the workforce.', 'However, the Recruitment and Employment Confederation questioned the prioritisation of British workers over foreign workers when employers are struggling to fill many job postings. ""', 'The bottom line is that many British businesses are at breaking point because of labour shortages,"" said Kate Shoesmith, its deputy chief executive. ""', ""It shouldn't be about picking winners or employing British workers over foreigners."", 'It is about creating the right conditions for long-term, sustainable economic growth"".', 'Engineering and manufacturing organisation Make UK said many employers were not aware of existing ""bootcamps"" and that any new measures needed to be promoted properly.', 'Meanwhile, TUC general secretary Paul Nowak suggested the announcement did not include enough detail on its implementation, describing it as ""performative politics"".', 'Labour also dismissed the proposals as a ""talking shop"" that would not deal with the scale of the problem.', 'The plans, overseen by a new ministerial taskforce headed by Mr Stride, come ahead of official net migration statistics set to be published on Thursday.', 'Net migration in the UK - the difference between the number of people coming and those leaving - hit a record high of 745,000 in 2022.', 'Since then, the government has announced a set of measures aimed at significantly cutting the number of people entering Britain.', 'These include drastically hiking the salary threshold for skilled workers to £38,700 and reforms to make it harder for Britons earning under the national average to bring over foreign spouses.', 'Mr Stride acknowledged the new rules, which aim to reduce the number of people arriving in Britain by 300,000, present a ""recruitment challenge"" for employers.', 'He insisted the government was building a new economic model ""based on British talent"".', 'Shadow work and pensions secretary Alison McGovern accused the government of ""running down our skills and training system"".', 'She said: ""We now have record levels of net migration.', 'They should be putting in place proper plans to tackle worker shortages and adopting Labour\'s plans to connect the immigration system to skills.""', 'Liberal Democrat work and pensions spokeswoman, Wendy Chamberlain, said: ""In many ways this is an admission that the Conservatives have no plan to tackle the biggest reason that people are unable to work, which is that NHS waiting lists are through the roof. ""', 'Thousands are struggling to access the healthcare they need, meaning people are unable to go back to work. ""', 'We will only get the economy back fighting fit by fixing the health crisis,"" she added.']",0.047629687805524,"For too long we have relied on labour from abroad when there is great talent right here in the UK - I am determined to put that right.""","We will only get the economy back fighting fit by fixing the health crisis,"" she added.",-0.2301803044974804,"Mr Stride said: ""It's a plan providing more opportunities for people here at home to get on, to progress, and to increase their pay. ""","Shadow work and pensions secretary Alison McGovern accused the government of ""running down our skills and training system"".",2024-05-21
+"Water industry investors have withdrawn billions, claims research",https://www.bbc.co.uk/news/articles/cw4478wnjdpo,2024-05-19T23:00:42.271Z,"Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending. Investors have withdrawn £85.2bn from 10 water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.  Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure. Ofwat, the industry regulator, said it ""strongly refuted"" the figures. ""While we agree wholeheartedly with demands for companies to change, the facts are there has been huge investment in the sector of over £200bn,"" a spokesperson said. Water UK, which represents the industry, said investment in the sector was ""double the annual levels seen before privatisation"".  Water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services for households. But David Hall, visiting professor at the Public Services International Research Unit at the University of Greenwich, claims that water companies have invested ""less than nothing of their own money"" and are “treating their customers like a cash cow”. The University of Greenwich examined the company accounts of the top 10 water and sewage companies in England and Wales including Thames Water, United Utilities and Severn Trent. It said that between privatisation in 1989 and 2023, money invested by shareholders in the largest firms shrunk by £5.5bn when adjusted for inflation. Over the same period, the amount of ""retained earnings"" - profits left over once things like dividends have been paid out, that  can be used to invest in a business - had dropped by £6.7bn in real terms. Meanwhile, the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account. Ofwat said the dividend figure was ""simply wrong"".  ""[It] does not represent the true total given it is inflation-adjusted. Ofwat offers the figure since privatisation as £52bn,"" the regulator said. Taken together, the fall in shareholders' investment and retained earnings - or profit - and rising dividend payments mean that, according to the University of Greenwich, owners have withdrawn £85.2bn. Water and sewage firms want to spend around £100bn over the next five years.  They argue that they need more money to improve their infrastructure to help limit leaks. But Prof Hall said: ""You put the prices up because you can and you get more money out of the customers, and then you pass it on to the shareholders because the business you’re in is providing a good return to your shareholders. ""That’s why the companies do what they do and we shouldn’t expect anything different.” A spokesperson for Water UK said: ""Investment requires financing through dividends.  ""Water companies now want to increase the pace of investment, with a record plan over the next five years, to ensure the security of our water supply in the future and significantly reduce the amount of sewage entering rivers and seas.  ""We now need Ofwat to give us the green light to get on with it.” There were 464,056 sewage spills in 2023, according to the Environment Agency, a 54% increase on the previous year.  Sewage is defined as anything that goes down a household drain. That includes from the toilet, personal washing or domestic cleaning such as from a washing machine or doing the dishes. It also includes run-off from roads. A warmer winter and wet weather has meant that many roadside grills have been overwhelmed. The next few weeks are key in determining by how much water companies can raise customers' bills. Ofwat will meet in the coming days to scrutinise water firms’ spending plans and proposed price rises which would affect bills between 2025 and 2030. Ofwat’s draft proposals are set to be published on 12 June.  Water companies can appeal if they do not agree with Ofwat’s recommendations. But Prof Hall said there needed to be a fundamental change in the way that the water industry is run. ""This is a service that matters to us,"" he said. ""What we need to do is reverse this system and move to the way the rest of the world does it which is through public authorities and take it back in the public sector.” A spokesperson for Ofwat said: ""We share the concerns of the general public and campaigners about the performance of water companies which, is simply not good enough. ""We have been holding companies to account and have imposed penalties of over £300m in recent years. We want to see a transformation in companies' performance and will be setting out our plans to deliver this in mid-June."" By Simon Jack, Business editor Given the huge sums borrowed, invested and paid out from water companies since privatisation it is debatable whether the contribution of a billion here or a billion there from private shareholders' own pockets (equity) over that time would have made much difference to the financial problems at some of the water companies. According to Dieter Helm, professor of economic policy at Oxford University, the problem is not the payment of dividends per se, or their reluctance to make additional cash injections. It is the level of debt taken on by some companies without the regulator intervening. Some owners took advantage of the steady inflation-linked revenue from water bills to service large debts, which in some cases were used to pay dividends. In five out of the 10 years that Australian firm Macquarie was Thames Water’s biggest shareholder, dividends exceeded the amount of profit the company was making – and debt quadrupled from £2.5bn to more than £10bn. “Ofwat should never have allowed them to mortgage the balance sheet,” says Prof Helm. Thames shareholders recently withdrew an offer to inject a further £3bn cash into the company when it became clear that Ofwat would not allow them to raise customer bills by the 40% on top of inflation that they were requesting. According to Prof Helm, the regulator has allowed the company's balance sheet to become “exhausted” and while new equity is now needed, Ofwat is “trying to shut the stable door when the horse has bolted”. Arguments on the wisdom of privatising monopolies run deep and long. The pollution in our rivers and beaches is ample evidence of its failure for many, while others point to the fact that some £200bn has been invested in the water network and that is more than would have happened if invisible pipes underground had had to compete with more visible hospitals and schools competing for government money. In that time water bills have actually fallen in real terms, i.e. have risen less than inflation over three decades. That is about to see a sharp reversal as companies ask the regulator to approve bill increases of anywhere between 17% (Anglian Water) to 72% (Southern Water). Companies will not get everything they want but the BBC understands that they will get more than half of the bill increases they are hoping for. ",BBC,19/05/2024,"[""Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending."", 'Investors have withdrawn £85.2bn from 10 water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.', ""Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure."", 'Ofwat, the industry regulator, said it ""strongly refuted"" the figures. ""', 'While we agree wholeheartedly with demands for companies to change, the facts are there has been huge investment in the sector of over £200bn,"" a spokesperson said.', 'Water UK, which represents the industry, said investment in the sector was ""double the annual levels seen before privatisation"".', ""Water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services for households."", 'But David Hall, visiting professor at the Public Services International Research Unit at the University of Greenwich, claims that water companies have invested ""less than nothing of their own money"" and are “treating their customers like a cash cow”.', 'The University of Greenwich examined the company accounts of the top 10 water and sewage companies in England and Wales including Thames Water, United Utilities and Severn Trent.', 'It said that between privatisation in 1989 and 2023, money invested by shareholders in the largest firms shrunk by £5.5bn when adjusted for inflation.', 'Over the same period, the amount of ""retained earnings"" - profits left over once things like dividends have been paid out, that can be used to invest in a business - had dropped by £6.7bn in real terms.', 'Meanwhile, the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account.', 'Ofwat said the dividend figure was ""simply wrong"". ""[', 'It] does not represent the true total given it is inflation-adjusted.', 'Ofwat offers the figure since privatisation as £52bn,"" the regulator said.', ""Taken together, the fall in shareholders' investment and retained earnings - or profit - and rising dividend payments mean that, according to the University of Greenwich, owners have withdrawn £85.2bn."", 'Water and sewage firms want to spend around £100bn over the next five years.', 'They argue that they need more money to improve their infrastructure to help limit leaks.', 'But Prof Hall said: ""You put the prices up because you can and you get more money out of the customers, and then you pass it on to the shareholders because the business you’re in is providing a good return to your shareholders. ""', 'That’s why the companies do what they do and we shouldn’t expect anything different.”', 'A spokesperson for Water UK said: ""Investment requires financing through dividends. ""', 'Water companies now want to increase the pace of investment, with a record plan over the next five years, to ensure the security of our water supply in the future and significantly reduce the amount of sewage entering rivers and seas. ""', 'We now need Ofwat to give us the green light to get on with it.”', 'There were 464,056 sewage spills in 2023, according to the Environment Agency, a 54% increase on the previous year.', 'Sewage is defined as anything that goes down a household drain.', 'That includes from the toilet, personal washing or domestic cleaning such as from a washing machine or doing the dishes.', 'It also includes run-off from roads.', 'A warmer winter and wet weather has meant that many roadside grills have been overwhelmed.', ""The next few weeks are key in determining by how much water companies can raise customers' bills."", 'Ofwat will meet in the coming days to scrutinise water firms’ spending plans and proposed price rises which would affect bills between 2025 and 2030.', 'Ofwat’s draft proposals are set to be published on 12 June.', 'Water companies can appeal if they do not agree with Ofwat’s recommendations.', 'But Prof Hall said there needed to be a fundamental change in the way that the water industry is run. ""', 'This is a service that matters to us,"" he said. ""', 'What we need to do is reverse this system and move to the way the rest of the world does it which is through public authorities and take it back in the public sector.”', 'A spokesperson for Ofwat said: ""We share the concerns of the general public and campaigners about the performance of water companies which, is simply not good enough. ""', 'We have been holding companies to account and have imposed penalties of over £300m in recent years.', 'We want to see a transformation in companies\' performance and will be setting out our plans to deliver this in mid-June.""', ""By Simon Jack, Business editor Given the huge sums borrowed, invested and paid out from water companies since privatisation it is debatable whether the contribution of a billion here or a billion there from private shareholders' own pockets (equity) over that time would have made much difference to the financial problems at some of the water companies."", 'According to Dieter Helm, professor of economic policy at Oxford University, the problem is not the payment of dividends per se, or their reluctance to make additional cash injections.', 'It is the level of debt taken on by some companies without the regulator intervening.', 'Some owners took advantage of the steady inflation-linked revenue from water bills to service large debts, which in some cases were used to pay dividends.', 'In five out of the 10 years that Australian firm Macquarie was Thames Water’s biggest shareholder, dividends exceeded the amount of profit the company was making – and debt quadrupled from £2.5bn to more than £10bn. “', 'Ofwat should never have allowed them to mortgage the balance sheet,” says Prof Helm.', 'Thames shareholders recently withdrew an offer to inject a further £3bn cash into the company when it became clear that Ofwat would not allow them to raise customer bills by the 40% on top of inflation that they were requesting.', ""According to Prof Helm, the regulator has allowed the company's balance sheet to become “exhausted” and while new equity is now needed, Ofwat is “trying to shut the stable door when the horse has bolted”."", 'Arguments on the wisdom of privatising monopolies run deep and long.', 'The pollution in our rivers and beaches is ample evidence of its failure for many, while others point to the fact that some £200bn has been invested in the water network and that is more than would have happened if invisible pipes underground had had to compete with more visible hospitals and schools competing for government money.', 'In that time water bills have actually fallen in real terms, i.e. have risen less than inflation over three decades.', 'That is about to see a sharp reversal as companies ask the regulator to approve bill increases of anywhere between 17% (Anglian Water) to 72% (Southern Water).', 'Companies will not get everything they want but the BBC understands that they will get more than half of the bill increases they are hoping for.']",0.0617000298202696,"Water companies now want to increase the pace of investment, with a record plan over the next five years, to ensure the security of our water supply in the future and significantly reduce the amount of sewage entering rivers and seas. ""","Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure.",0.1285975552522219,"Meanwhile, the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account.","Taken together, the fall in shareholders' investment and retained earnings - or profit - and rising dividend payments mean that, according to the University of Greenwich, owners have withdrawn £85.2bn.",2024-05-21