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☆ Inside the Growing Alarm Over Blackstone's BREIT Real-Estate Fund
▼ + stars: | 2024-05-07 | by ( Bethany Mclean | ) www.businessinsider.com time to read: +23 min

Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.

Persons: Blackstone, —, BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres

☆ Live Updates: Trump’s Criminal Trial Speeds Along, With Few Key Witnesses Remaining
▼ + stars: | 2024-05-06 | by ( Ben Protess | Jonah E. Bromwich | ) www.nytimes.com time to read: +6 min

The Manhattan district attorney has charged Mr. Trump, 77, with falsifying 34 business records to hide a $130,000 payment to Stormy Daniels, a porn star who says she and Mr. Trump had a tryst in 2006 while he was married. Mr. Trump, the first American president to face criminal prosecution, has denied the charges and says he did not have sex with Ms. Daniels. Here are five takeaways from Mr. Trump’s 11th day, and third week, on trial:A scandalous recording resurfaces. Ms. Hicks recalled consulting with Michael D. Cohen, Mr. Trump’s former lawyer and fixer, who eventually paid Ms. Daniels to keep quiet. On Thursday, prosecutors presented four more incidents and called Mr. Trump’s statements “corrosive.” Mr. Trump’s legal team argued that he was merely responding to political attacks.

Persons: Hope Hicks, Donald J, Trump, Gasps, Trump’s, Hicks, Stormy Daniels, Daniels, Ivanka, Donald Trump’s, Billy Bush, Mark Makela, Juan M, ” Mr, “, Karen McDougal, McDougal, Michael D, Cohen, —, Keith Davidson, Hillary Clinton, Davidson, Mr, Doug Mills, Clinton, ”, Justice Merchan, Merchan Organizations: White, White House, The Washington Post, ”, The New York, The, Wall Street, The National Enquirer, Trump, Manhattan Criminal, New York Times, Prosecutors, Mr Locations: Manhattan, Los Angeles

☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ IBM CEO Arvind Krishna on revenue miss, consulting business and HashiCorp acquisition
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIBM CEO Arvind Krishna on revenue miss, consulting business and HashiCorp acquisitionIBM CEO Arvind Krishna joins 'Money Movers' to discuss the company's revenue miss, company outlook, and consulting business.

Persons: Arvind Krishna

☆ AI could drive a natural gas boom as power companies face surging electricity demand
▼ + stars: | 2024-05-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

AI data centers alone are expected to add about 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. The forecast power demand from AI alone is seven times greater than New York City's current annual electricity consumption of 48 terawatt hours. The natural gas industry is betting gas will serve as the preferred choice. Coal plant retirements and data centers could result in 6 bcf/d of new natural gas demand in EQT's backyard by 2030, the CEO said. The level of electricity demand could help lift natural gas prices out of the doldrums.

Persons: Kena, Goldman Sachs, Robert, Richard Kinder, Kinder Morgan, Kinder, Roger Read, Wells, Goldman, Toby Rice, Rice, CNBC's, Christopher Womack, Robert Blue, EQT, Jeremy Knop, Knop, Blue, Read, Lynn, Zack Van Everen, Robert Kinder Organizations: Linden, View Press, Getty, Amazon, Google, Microsoft, Meta, Rystad Energy, Robert Blue Dominion Energy, Gas, Holt, Co, EQT Corp, U.S ., Dominion Energy, Georgia Power, Southern Company, Dominion, Renewables, CNBC, Lynn Good, Energy Locations: Linden New Jersey, U.S, Wells, Wells Fargo, New York, Houston, Pickering, Northern Virginia, Georgia, Appalachian, Virginia, Gulf

☆ I use my psychic powers to help corporations make money. My best ideas have earned me more than $500,000.
▼ + stars: | 2024-05-05 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

So I did it and it worked, and I made an awful lot of money for people. My advice was so profitable that these clients started recommending me to their friends in other businesses and industries. By and large, the businesses I worked with are not good forces in the world — they're capitalist extractive machines. AdvertisementMy spiritual clients pay me a flat monthly fee ranging from a minimum of £4,000 to a maximum of £20,000. I charge a minimum retainer fee of £2,000 per month, but my real income comes through a success fee.

Persons: Kate Tomas, I've Organizations: Service, Business, Oxford Locations: Wales, London, Hollywood

☆ Tesla Pullback Puts Onus on Others to Build Electric Vehicle Chargers
▼ + stars: | 2024-05-04 | by ( Jack Ewing | Ivan Penn | ) www.nytimes.com time to read: +1 min

Elon Musk, the chief executive of Tesla, blindsided competitors, suppliers and his own employees this week by reversing course on his aggressive push to build electric vehicle chargers in the United States, a major priority of the Biden administration. It put the onus on other charging companies, raising questions about whether they can build fast enough to address a shortage that appears to be discouraging some people from buying electric cars. As the owner of the largest charging network in the United States, Tesla has a powerful effect on people’s views of electric cars. “There is certainly a psychological component,” said Robert Zabors, a senior partner at Roland Berger, a consulting firm. “Availability and reliability are critical to overall E.V.

Persons: Elon Musk, Tesla, Biden, ”, Robert Zabors, Roland Berger Locations: United States

☆ The likely reason your résumé got rejected
▼ + stars: | 2024-05-04 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

Although the recent grad didn't have tech experience, to Weaver, he'd shown longevity with a company and a desire to take on more responsibility. "The ATS doesn't care. "They don't have time to really parse through a résumé and think if someone may or may not be a fit. Weaver said taking these steps makes it less likely that a résumé will be set aside when a recruiter sorts for certain attributes. Don't fear the etherIt's understandable why people would stress over whether an ATS would block their résumé.

Persons: —, Melissa Weaver, He'd, Weaver, he'd, it's, Mark Jensen, Jensen, Aaron Cleavinger, Cleavinger, you'd Organizations: Service, Business, ATS, Fortune, People, Murdoch

☆ Tesla slashed its Supercharger team. What does that mean for America’s EV network?
▼ + stars: | 2024-05-04 | by ( Ella Nilsen | ) edition.cnn.com time to read: +4 min

CNN —The news this week that Elon Musk laid off Tesla’s entire Supercharger team sent shockwaves of uncertainty through the industry tasked with building America’s new network of EV chargers. A fast and reliable charging network is an essential ingredient in getting more people to switch from gas-powered vehicles to electric, and some early types of chargers proved less than dependable. Tesla had a superior charging network long before President Joe Biden set an ambitious goal to install half a million stations around the US by the end of the decade. “There are many, many charging companies out there,” an EV industry source told CNN. “Charging is a difficult business, there’s no doubt about that,” the EV industry source said.

Persons: Elon Musk, Tesla, Joe Biden, NEVI, “ It’s, ”, it’s, ” Daniel Sperling, University of California Davis, Loren McDonald, ” McDonald Organizations: CNN, EV, Joint Office of Energy, Transportation, Electric Vehicle Infrastructure, NEVI, Infrastructure Law, ”, Institute of Transportation Studies, University of California Locations: EVAdoption, New York

Major corporations often don't want to seem like they're taking one side politically, so they either sponsor both conventions, or neither. Conventions could see new sponsorsThe Democratic and Republican conventions this summer are the first fully in-person conventions since the 2016 election. Democratic convention organizers in April said if corporations had any reluctance to back the RNC, it hasn't hampered Chicago's efforts to lure donors. Microsoft in 2012 contributed over $1.5 million in a mix of in-kind and cash contributions to the Republican convention. JPMorgan donated $200,000 to the 2012 Republican convention and didn't write a check for the 2016 event.

Persons: Donald Trump, Jon Cherry, Rashad Robinson, Robinson, —, Fiserv, Greg Goldner, Trump, Donald Trump's, aren't, they'll, Joe Biden, Trent Morse, Morse, they've, Alison Prange, Reince Priebus, Priebus, it's, Steve Kornacki's, Biden, Nancy Pelosi, Michelle Yeoh, Natalie Edelstein, Michael Sacks, Sacks, J.B . Pritzker, Barack Obama, Alex Hornbrook, There's, Taylor Swift, she's, Mitt Romney, Obama, didn't, General Motors Organizations: Christian Media, The Gaylord, Center, Getty, Republican National Convention, Republican, NBC News, Trump, Fiserv Inc, Democratic, Fiserv, RNC, Resolute Consulting, GOP, Corporations, Fortune, Milwaukee Journal Sentinel, Democrats, White House, Milwaukee, NBC, Wall, Republican National Committee, Wall Street, Biden, TV, Kentucky Derby, Street Journal, Northwestern Mutual, Wisconsin Fortune, Democratic National Convention, WEC Energy Group, Manpower Group, Conventions, Metropolitan Milwaukee Association of Commerce, DNC, Convention, Chicago, Longtime Democratic, Illinois Gov, White, Correspondents, Commission, Facebook, Google, Microsoft, Bank of America, FEC, Meta, Skype, CNBC, JPMorgan Chase, Walmart, JPMorgan, General Motors, General, Motors, Comcast, Press, Trade Locations: Nashville , Tennessee, Milwaukee, Wisconsin, America, Chicago, NBCUniversal, Philadelphia

☆ Rep. Henry Cuellar and his wife allegedly took nearly $600,000 in bribes, indictment says
▼ + stars: | 2024-05-03 | by ( Hannah Rabinowitz | Haley Talbot | ) edition.cnn.com time to read: +2 min

Democratic Rep. Henry Cuellar of Texas and his wife have been charged with accepting nearly $600,000 in bribes from two foreign entities, according to an indictment in federal court in Texas. The alleged scheme took place from late 2014 through at least November 2021, the indictment says. The Justice Department declined to comment on the indictment, which was first reported by NBC News. In a statement on Friday, Cuellar said: “I want to be clear that both my wife and I are innocent of these allegations. “On top of being an amazing wife and mother, she’s an accomplished businesswoman with two degrees.

Persons: Henry Cuellar, Cuellar, “, ” Cuellar, ”, Imelda, she’s, ’, Delanie Organizations: Democratic, NBC News, Washington DC, FBI, National Republican Locations: Henry Cuellar of Texas, Texas, South Texas, Laredo , Texas

☆ China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
▼ + stars: | 2024-05-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.

Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe

☆ Talent war between family offices and Wall Street drives up salaries
▼ + stars: | 2024-05-03 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

"There's a real war for talent within family offices," said William Sinclair, U.S. head of J.P. Morgan Private Bank's Family Office Practice. According to the report, which surveyed 190 family offices with average assets of $1.4 billion, family offices that manage less than $500 million spend an average of $1.5 million a year for operating costs. Family offices between $500 million and $1 billion spend an average of $2.7 million, and those above $1 billion average $6.1 million. The biggest cost is staffing, which has become more expensive as family offices have tripled in number over the past five years. "If you look back 15 years ago, family offices were where people went to retire and have work-life balance," he said.

Persons: Robert Frank, William Sinclair, Morgan, We've, Trish Botoff, Botoff, Carlyle, Paul Westall, Westall, that's Organizations: Morgan Private Bank Global, Botoff Consulting, KKR, Blackstone, Agreus Locations: U.S

☆ Wouldn't hold my breath for Apple AI developments: Yonder Consulting
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWouldn't hold my breath for Apple AI developments: Yonder ConsultingManfred Abraham, CEO of Yonder Consulting, helps dissect Apple's earnings, its plans for AI, and the biggest share buyback in U.S. history.

Persons: Manfred Abraham Organizations: Yonder Consulting

☆ Who is Hope Hicks, longtime Trump aide who is testifying in NY hush money case?
▼ + stars: | 2024-05-03 | by ( Michelle Shen | ) edition.cnn.com time to read: +8 min

Washington CNN —Hope Hicks, once a longtime trusted aide in Donald Trump’s inner circle, is testifying Friday in the New York hush money trial after being subpoenaed. As CNN reported previously, Hicks appeared before the grand jury last year before Trump was indicted, as did Trump counselor Kellyanne Conway. According to reporting from “The Divider: Trump in the White House, 2017-2021,” Trump is quoted as saying, “Well, Hope doesn’t believe in me.”“No, I don’t,” Hicks replied, according to the book. “Nobody’s convinced me otherwise.”In October 2022, Hicks testified before the House select committee investigating the January 6, 2021, Capitol riot. In a video clip played by the committee, Hicks testified about a conversation she had with Trump after the election, regarding his baseless claims of election fraud.

Persons: Washington CNN — Hope Hicks, Donald Trump’s, “, ” Hicks, Hicks, Trump, Kellyanne Conway, Cohen, Stormy Daniels, Rob Porter, Trump’s, Porter, ” Trump, Hope doesn’t, ”, “ Nobody’s, Trump “, ’ ” Hicks, Daniels, ” Cohen, Prosecutors, upended, –, David Pecker, Dylan Howard, Stephanie Clifford, I’ve, Sheila Jackson Lee, Jerry Nadler, Nadler, ’ Organizations: Washington CNN, CNN, Trump, Trump Organization, White, House Intelligence, Fox News, Trump White, House, Capitol, Politico, US, of, American Media Inc, AMI, National Enquirer, FBI, ” Prosecutors, Democratic Rep, New York Democrat Locations: New York, Southern, of New York, Trump’s

Representative Henry Cuellar, Democrat of Texas, and his wife were charged with participating in a yearslong $600,000 bribery scheme involving Azerbaijan and a Mexican bank, according to a federal indictment unsealed in Houston on Friday. Mr. Cuellar, 68, and his wife Imelda, 67, are accused of bribery and money laundering in connection with their efforts on behalf of a bank based in Mexico City and an energy company owned by Azerbaijan, according to the 54-page complaint. Mr. Cuellar is also accused of acting as an agent of a foreign entity while serving as a U.S. government official. Payments made from 2014 to 2021 were laundered through “sham consulting contracts,” front companies and shell companies owned by Mrs. Cuellar, who performed “little to no legitimate work” under the contracts, lawyers with the Justice Department’s criminal division wrote.

Persons: Henry Cuellar, Mr, Cuellar, Imelda, . Cuellar Organizations: Justice Locations: Texas, Azerbaijan, Mexican, Houston, Mexico City, U.S

☆ How we test, review, and recommend products
▼ + stars: | 2024-05-02 | by ( Insider Reviews Team | Les Shu | ) www.businessinsider.com time to read: +6 min

Janelle LeesonBelow is a sampling of some of the core products and services the Reviews team tests. Reporters enlist their cats, dogs, and other pets to help test products, while pet health articles are medically reviewed by veterinarians and supported by expert interviews. Insider Reviews' health articles are medically reviewed by doctors and other health professionals, and supported by expert interviews. Molly Allen/InsiderThe Reviews team tests products the way people would use them in everyday life. In addition to our in-house and freelance testers, we also have an internal council of volunteers and freelancers who help us test products and offer additional perspectives.

Persons: Janelle Leeson, Antonio Villas, Sally Kaplan, Molly Allen, James Brains, Erin Brains, Amir Ismael Organizations: Business Insider's Service Journalism, Tech, Samsung, Boas, Health

"It is becoming clearer and clearer that the Fed isn't going to lower interest rates anytime soon," said Matt Schulz, chief credit analyst at LendingTree. "If Americans want lower interest rates, they're going to have to do it themselves." What determines your credit card rateSince most credit cards have a variable rate, there's a direct connection to the Fed's benchmark. It's also an ideal time for consumers to take advantage of all the options credit card issuers are offering. A balance transfer credit card moves your outstanding debt from one or more credit cards onto a new card, typically with a lower interest rate.

Persons: —, Matt Schulz, Michele Raneri, aren't, Schulz, Ted Rossman, Rossman, It's Organizations: Federal Reserve, TransUnion, Finance, Treasury Department Locations: U.S

☆ I moved my family to Spain where childcare is 3 times cheaper than the UK. I'm happier and healthier, and I landed a better job.
▼ + stars: | 2024-05-01 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

I moved with my family to Spain, where I'm from, after living in the UK for two years. I'm much happier and healthier than I was, and I can see us here for the next 10 years. Some parents can pay as little as 300 euros, which is around $320, a month for one child. Childcare was a big factor, but we also wanted to be near my family and have more of a support network. People are warmer and more caring toward children than they were in the UK, though maybe it's just expressed differently.

Persons: —, Sara Bustillo de Castro, I'd, I'm Organizations: Service, Business Locations: Madrid, Spain, Paris, France, Cambridge, London

☆ Why hundreds of U.S. banks may be at risk of failure
▼ + stars: | 2024-05-01 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +1 min

Hundreds of small and regional banks across the U.S. are feeling stressed. "You could see some banks either fail or at least, you know, dip below their minimum capital requirements," Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and found 282 banks face the dual threat of commercial real estate loans and potential losses tied to higher interest rates. "That means there'll be fewer bank failures. For individuals, the consequences of small bank failures are more indirect.

Persons: Christopher Wolfe, They're, Brian Graham, Graham, Sheila Bair Organizations: Fitch, CNBC, Consulting, Klaros, U.S . Federal Deposit Insurance Corp, FDIC Locations: U.S

☆ How to make your home hurricane resistant, as scientists predict an 'extremely active' storm season
▼ + stars: | 2024-05-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +11 min

In this article Follow your favorite stocks CREATE FREE ACCOUNTRyersonclark | E+ | Getty ImagesMaking your home hurricane resistant can be a significant financial undertaking. In 2024, the national average cost to upgrade an entire house with hurricane windows runs between $1,128 and $10,293, or $100 and $500 per window, including installation, according to This Old House. Hurricane resistance is about preventing 'pressurization'Hurricanes are different and unpredictable storms, said Jeff Ostrowski, a housing analyst at Bankrate. If installing new hurricane windows aren't in the budget, shutters are lower-cost options to protect windows and other openings, said Chapman-Henderson. Talk to your insurer about possible discounts Strengthening your home against disasters may help lower your insurance cost.

Persons: Phil Klotzbach, Jeff Ostrowski, Leslie Chapman, Henderson, Jennifer Languell, Chapman, Kin, Melissa Cohn, William Raveis, Bankrate's Ostrowski, Ostrowski, Loretta Worters, Worters, Languell Organizations: Massachusetts Institute of Technology, Hurricanes, National Oceanic, Fluid Dynamics, Climate, Energy Solutions, Swiss, Finance, Colorado State University, Department of Atmospheric, Federal Alliance, Safe, Safe Homes, Department of Energy, Trifecta, William Raveis Mortgage, Insurance, Institute, Homeowners Locations: windstorms, U.S, Florida, In Florida, Alabama, Louisiana, dsireusa.org

☆ Black creators were instrumental in building TikTok. Now they fear they'll be hit the hardest by a ban.
▼ + stars: | 2024-05-01 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +10 min

But largely, TikTok is a place Black creators found where they could thrive and reach new audiences and customers for their growing businesses. It wasn't that the content wasn't good, Ford said, it was that Instagram "just wasn't a place for Black creators, minority creators, to excel." Some Black creators suspected their Black Lives Matter content was suppressed in 2020 after George Floyd's death ignited a wave of protests. AdvertisementBlack TikTokers have also expressed an "undertone of anti-Blackness" in the platform's algorithm, where white creators benefited from the trends started by Black creators. AdvertisementThis is disheartening, Black creators told BI, because so many top trends and ideas come from their community.

Persons: —, Joe Biden, TikTok, Tenyse Williams, It's, Funmi Ford, Ford, Nya, I've, Étienne, Keith Lee, entrepreneurialism, Kahlil Dumas, Dumas, George Floyd's, Jalaiah Harmon, Black TikTokers, Williams, Imani Bashir, Bashir, We're, isn't Organizations: Service, Senate, Business, Consulting, University of Central, Columbia University, George Washington University, Pew Research Center, An, Free, Black, New York Times, Forbes, YouTube, BI Locations: University of Central Florida, Instagram, An Oxford, Atlanta

☆ McKinsey tried to boost the morale of senior staff by blasting Eminem and Bob Marley at an internal event, report says
▼ + stars: | 2024-04-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

McKinsey & Co. held an internal event to rally partners amid a challenging year, Bloomberg reports. Like many major consulting firms, McKinsey has announced layoffs as demand for its services has fallen. During the event, Bob Sternfels, global managing partner at McKinsey, reportedly admitted that the last 18 months had been challenging but said that 2024 was looking better for the firm. McKinsey global managing partner, Bob Sternfels, makes a statement to the US Senate on the firm's work with Saudi Arabia, February 2024. But McKinsey partners have reportedly been unhappy with how leadership has handled the role reductions, people familiar with the matter told Bloomberg.

Persons: Bob Marley, Eminem, —, Bob Sternfels, Sternfels, sprees, they're Organizations: McKinsey, Co, Bloomberg, Service, SPAN McKinsey, Employees, US Department of Justice, Purdue Pharma, Sternfels Locations: British, Copenhagen, Saudi Arabia

☆ AI has entered the workplace. 3 industry leaders discuss how businesses can embrace it.
▼ + stars: | 2024-04-30 | by ( Leila Jordan | ) www.businessinsider.com time to read: +4 min

As the new technology accelerates in skill and ubiquity, business leaders are racing to figure out what the relationship between workers and AI will look like in years to come. Business Insider's virtual event "Human-AI Collaboration: The Key to Workplace Efficiency and Innovation," presented by Dell Technologies, brought together a panel of experts to discuss the trials, triumphs, and future of AI. He discussed the major ways in which Dell is integrating AI into its processes, from increasing productivity for developers to automating content. "There are predictions that we could have two times, three times, even four times the employment demand for new job growth as a result of gen-AI and AI ethicists, AI translators, AI mediators, AI co-creative, AI legal, and compliance experts," Miscovich said. Working with AI from the ground floor can allow businesses to design the parameters that will guide AI's future presence in the workplace.

Persons: Matt Baker, Mozziyar Etemadi, Peter Miscovich, Tim Paradis, Baker, Miscovich, Etemadi Organizations: Service, Efficiency, Dell Technologies, Business, Dell, Northwestern Medicine, AIs

☆ Good news: The worst could be over for gas prices this spring
▼ + stars: | 2024-04-30 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

US gas prices have stopped rising and even briefly dipped in recent days. Now, there is growing hope that gas prices are at or near a peak for the spring – or perhaps even for the year. ‘Could have been much worse’Of course, none of this is to say gas prices are cheap. A spike in gas prices would be the last thing President Joe Biden needs as he struggles to convince voters of his economic message before November. Why gas prices have cooledThere are multiple reasons why gas prices have stopped rising for the moment.

Persons: Patrick De Haan, “ I’m, ” De Haan, Tom Kloza, ”, Andy Lipow, “, De Haan, Joe Biden, Lipow, ” Lipow, Kloza Organizations: New, New York CNN, OPEC, AAA, CNN, “, Oil Price Information Service, Lipow Oil Associates, Drivers, Federal Reserve, Biden, US Strategic Petroleum Reserve, Coast, Colorado State University Locations: New York, Israel, Iran, Covid, California, De Haan ., Washington, Syria, West Texas, New Mexico, Saudi Arabia, Russia

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