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☆ How Hermès became the ultimate status symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

A cashmere throw blanket splashed with the letter H. For years, Hermès' iconic products have been coveted by those in the know. Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

Persons: Hermès, Louis Vuitton, LVMH, Kering's, hasn't, it's, Axel Dumas, Simeon Siegel, Siegel, Birkin, —, waitlists, Edward Berthelot, there's, Hitha Herzog, Nicole Pollard Bayme, Kelly, Versace, Herzog, Gucci, Saint Laurent, Bernstein, Luca Solca, Chanel, Solca, Winston Chesterfield, Barton, That's, Williamsburg , Brooklyn —, Axel, Pierre, Alexis Dumas —, Bernard Arnault's LVMH, Dumas, Barton's Chesterfield, They've, Cousins Axel Dumas, Alexis Dumas, Rodrigo Vaz, Thierry Hermès, they've, We're Organizations: BMO Capital Markets, Capri Holdings, North, Gucci Locations: Hermès, London, China, France, Louviers, Ardennes, New Aquitaine, Aspen , Colorado, Naples, Florida, Nanjing, Princeton , New Jersey, Williamsburg , Brooklyn

☆ How Hermes Became the Ultimate Status Symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "The curse of retail is everyone chases more," Simeon Siegel, a senior retail analyst at BMO Capital Markets, told Business Insider about luxury brands. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

At Meta, in CEO Mark Zuckerberg's words, 2023 was the "year of efficiency," and the stock jumped almost 200% alongside 20,000 job cuts. AI demand is so great that some tech companies are cutting headcount in parts of the business to invest more heavily in developing AI products. Phil Spencer, CEO of Microsoft Gaming, appears at the Political Opening of the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Within tech, a wide variety of companies, big and small and spanning the consumer and enterprise markets, are eliminating jobs. But, he added, there's an "enormous base" of small and mid-sized tech companies across the U.S., and that in some cases contractors, freelancers and overseas workers are being hit particularly hard.

Persons: Peter Kramer, They've, Mark Zuckerberg's, Zeile, Phil Spencer, Franziska Krug, Sundar Pichai, Bob Carrigan, Nigel Vaz, Publicis Sapient, Salesforce, Meta's, " Vaz, Levi Strauss, Bob Bakish, Tim Herbert, Herbert, there's, Vaz, Michael Bloom, Annie Palmer, Jennifer Elias Organizations: Nasdaq, CNBC, Apple, Meta, Microsoft, Investors, Activision Blizzard, SAP, Microsoft Gaming, Facebook, Citigroup, Paramount, Commerce Department, Gross Locations: Cologne, Germany, U.S

☆ Everyone's buzzing about AI — including plenty of people who clearly don't understand it
▼ + stars: | 2024-01-17 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

BINigel Vaz, CEO of Publicis Sapient, a consulting firm, compares the buzz around AI to the early days of the internet. BINela Richardson, chief economist at ADP, told BI there's a big learning gap on what constitutes AI. Much of what is being called "generative AI" has been around for decades, while much of what workers think is AI is actually automation. Similarly, Guru Gowrappan, CEO of ViaSat, a communications operator, says many companies are just talking about AI at Davos — but not actually doing much with it. And some of them are just recategorizing what they were doing to call it AI," he tells BI.

Persons: —, I've, Davos — I've, Sheila Warren, there's, Warren, Nigel Vaz, Publicis, Vaz, Bain, Nela Richardson, Richardson, Ivana Bartoletti, Guru Gowrappan, Gowrappan Organizations: Service, Economic, Business, Davos —, Crypto, VR, Infosys, IBM, Accenture, Consulting, ADP, Wipro, ViaSat, Davos Locations: Davos

☆ Moscow tells officials to buy Russian Ladas, Chinese cars
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Alexey Malgavko//File Photo Acquire Licensing RightsOct 20 (Reuters) - Russia's government on Friday published a list of domestically-produced cars that state officials should buy, all either Russian or Chinese brands, highlighting Beijing's infiltration of Russia's automobile industry since the Ukraine war. As the West shuns Russia, Russia has shunned Western corporations. The Russian cars listed were five Lada models, produced by Russia's largest carmaker Avtovaz, as well as the UAZ, Aurus and Moskvich brands, and Evolute electric cars. The Moskvich, a revived Soviet-era car, is emblematic of China's growing sway over Russia's car industry. Five models of Chinese carmaker Haval, which has been producing cars at its plant in the Tula region, 200 kilometres from Moscow, since 2019, were listed.

Persons: VAZ, Alexey Malgavko, Vladimir Putin, Sehol, Haval, Gleb Stolyarov, Alexander Marrow, Barbara Lewis Organizations: Lada, REUTERS, Renault, Nissan, West shuns, Kommersant, Apple, Industry and Trade Ministry, Russia's, Reuters, Thomson Locations: Soviet, Izhevsk, Russia, Ukraine, West shuns Russia, Moscow, Tula

☆ New York's floods weren't a one-off — here's how the city is preparing for the future
▼ + stars: | 2023-10-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

The same idea could be applied to create cloudburst gardens. Source: New York City Department of Environmental ProtectionNew York City environmental agencies are also working on installing rain gardens. Roughly 12,000 rain gardens have already been installed in New York City sidewalks, according to Aggarwala. Rain gardens line a sidewalk in Queens, NY. Source: NYC WaterAlong with extreme rainstorms, the climate chief is equally or more concerned about the threat of extreme heat, which causes more fatalities in the city rainfall.

Persons: Fatih Aktas, Rohit Aggarwala, today's, Winters, Hurricane Henri, Hurricane Ida, Nelson Vaz, Marc Wouters, Eric Adams, Aggarwala, Kathy Hochul Organizations: Anadolu Agency, Getty, New, York, CNBC, Hurricane, National Weather Service, Bronx and, New York City Department of Environmental Locations: Williamsburg , New York, United States, New York, York City, York, Miami, Jamaica, Queens , NY, Queens, Bronx, Bronx and Brooklyn, New York City, Staten Island, Staten, New, Yorker

☆ Cash in or lose out: Banks are turning to AI, cloud computing, and Web3 to gain competitive advantage and customer loyalty
▼ + stars: | 2023-09-05 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

AI and cloud tech are giving some banks an edge over competitors and enticing brand loyalty. Traditional banks that ignore this reality risk losing loyal customers to digital banks that have emerged over the past few years, research suggests. Digital transformation is a must for banksWith online banking now the norm, digital transformation is no longer optional for banks. Legacy banking systems were not designed to provide the banking experience that people expect today," she said. As a result, banking customers and employees can view transactions in real time and deliver "a more seamless and personalized experience" for all stakeholders, she added.

Persons: Banks, Victoria Newton, Newton, Laura Merling, Merling, Jay Venkateswaran, WNS, Eno, Goldman Sachs, Nigel Vaz, Publicis, Publicis Sapient Nigel Vaz, Venkateswaran, Vaz, James Whybrow Organizations: Service, Starling Bank, Arvest Bank, Banking, Capital One, Microsoft, Bank of America, Amazon Web Services, Google, Economist Intelligence Unit, Arvest, Software AG, Software Locations: Wall, Silicon, It's, Starling, WNS, Morgan

☆ Idalia Remains on Florida Path, Could Be ‘Extremely Dangerous’
▼ + stars: | 2023-08-29 | by ( ) www.wsj.com time to read: 1 min

AI in Education Attracts Startups and CashIf generative artificial intelligence is going to upend learning, then startups and investors want to be part of it. Varun Gulati, CEO of LitLab, describes how his company’s AI tool can make learning to read more personal. And Reach Capital’s Jennifer Carolan explains why the generative AI boom is different from edtech investment trends of the past. This is part three of our series Reading, Writing, and Algorithms. Click the links to listen to episode 1 and episode 2.

Persons: Varun Gulati, Jennifer Carolan, Amogh Alva Vaz Organizations: Education

☆ Hurricane Idalia Approaches Florida, Could Be ‘Extremely Dangerous’
▼ + stars: | 2023-08-29 | by ( ) www.wsj.com time to read: 1 min

Persons: Varun Gulati, Jennifer Carolan, Amogh Alva Vaz Organizations: Education

☆ Microsoft Offers Big Concession to Secure Activision Deal
▼ + stars: | 2023-08-26 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

AI’s Thorniest Issues Will Be Addressed in Court Congress is discussing ways to regulate artificial intelligence. But while they debate the best approaches, courts may be the ones to decide some of the most important questions around AI development. WSJ reporter Ryan Tracy joins host Zoe Thomas with a breakdown of multiple lawsuits involving AI and how they could shape the landscape of this burgeoning industry. Illustration: Amogh Alva Vaz

Persons: Will, Ryan Tracy, Zoe Thomas, Amogh Alva Vaz

☆ Watch: Putin Breaks Silence, Offers Condolences After Death of Prigozhin
▼ + stars: | 2023-08-24 | by ( ) www.wsj.com time to read: 1 min

AI’s Thorniest Issues Will Be Addressed in CourtCongress is discussing ways to regulate artificial intelligence. But while they debate the best approaches, courts may be the ones to decide some of the most important questions around AI development. WSJ reporter Ryan Tracy joins host Zoe Thomas with a breakdown of multiple lawsuits involving AI and how they could shape the landscape of this burgeoning industry. Illustration: Amogh Alva Vaz

Persons: Will, Ryan Tracy, Zoe Thomas, Amogh Alva Vaz

☆ ‘Like Losing a Father’: Tributes to Wagner Leader Yevgeny Prigozhin
▼ + stars: | 2023-08-24 | by ( ) www.wsj.com time to read: 1 min

AI’s Thorniest Issues Will Be Addressed in CourtCongress is discussing ways to regulate artificial intelligence. But while they debate the best approaches, courts may be the ones to decide some of the most important questions around AI development. WSJ reporter Ryan Tracy joins host Zoe Thomas with a breakdown of multiple lawsuits involving AI and how they could shape the landscape of this burgeoning industry. Illustration: Amogh Alva Vaz

Persons: Will, Ryan Tracy, Zoe Thomas, Amogh Alva Vaz

☆ Trump Surrenders, Is Booked in Georgia Jail in Election-Meddling Case
▼ + stars: | 2023-08-24 | by ( ) www.wsj.com time to read: 1 min

AI’s Thorniest Issues Will Be Addressed in CourtCongress is discussing ways to regulate artificial intelligence. But while they debate the best approaches, courts may be the ones to decide some of the most important questions around AI development. WSJ reporter Ryan Tracy joins host Zoe Thomas with a breakdown of multiple lawsuits involving AI and how they could shape the landscape of this burgeoning industry. Illustration: Amogh Alva Vaz

Persons: Will, Ryan Tracy, Zoe Thomas, Amogh Alva Vaz

☆ Heard on the Street’s 7th Annual Stock-Picking Contest Begins
▼ + stars: | 2023-08-21 | by ( ) www.wsj.com time to read: 1 min

Teachers Adapt to New AI EraTeachers worry that generative AI programs may interfere with the way students learn. For the second installment of our special series Reading, Writing, and Algorithms, TNB producer Julie Chang spoke with some instructors about how they’re tackling student use of AI tools. Check out episode one of the series here. Illustration: Amogh Alva Vaz

Persons: Julie Chang, Amogh Alva Vaz Organizations: Teachers

☆ Hilary Downgraded to Posttropical Storm, Expected to Dissipate
▼ + stars: | 2023-08-21 | by ( ) www.wsj.com time to read: 1 min

Persons: Julie Chang, Amogh Alva Vaz Organizations: Teachers

☆ Emerging tech, from AI to extended reality, is radically reshaping today's business world — and leaders who don't get on board ASAP will be left in the dust
▼ + stars: | 2023-08-21 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +14 min

As technology shapes customer habits, entire industries, and society at large, digital transformation has become a critical priority for every company. A February report from Deloitte found effective digital transformation initiatives could increase market capitalization by a staggering $1.25 trillion. From artificial intelligence to extended reality, a variety of technologies are shaping digital transformation strategies. He said he expected industries with "significant human implications," such as healthcare and space exploration, to benefit the most from digital transformation. Extended reality — a combination of virtual reality, augmented reality, and mixed reality often called "XR" — is another technology that could revolutionize organizational cultures.

Persons: Nigel Vaz, Publicis, It's, Vaz, Jean Pelletier, Pelletier, Schneider, Beth Johnson, Johnson, Tom Fairbairn, Tom Fairbairn Fairbairn, Duncan Roberts, Roberts Organizations: Technology, Morning, Deloitte, Netflix, Schneider, Schneider Electric, Citizens Bank, Amazon Prime, Amazon Web Services, Company, Imperial College London Locations: Cognizant

☆ Your New Best Friend Is an AI Chatbot. What Are the Risks?
▼ + stars: | 2023-08-17 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

AI Joins the Classroom When Students Return Students across the country are preparing to head back to class and many of them will likely use generative artificial intelligence to help with their school work. But not all educators consider that cheating. Part one of this special series, Reading, Writing, and Algorithms, looks at generative AI in education, the ways students use these tools, and where educators are drawing the line. Zoe Thomas hosts. Illustration: Amogh Alva Vaz