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☆ Seems Like Elon Musk Wanted to Take Over OpenAI to Help Save Tesla
▼ + stars: | 2024-03-10 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

We know that the development process was running late and over budget, so Musk needed capital. We did not know he'd suggested that OpenAI raise $1 billion, merge with Tesla, and name him CEO. He's angry at OpenAI for giving other investors the opportunity to invest in a powerful company he wanted for himself. So now Musk is turning back to OpenAI, hoping the latest charmless offensive can help shore up his empire. If Musk indeed believed OpenAI needed him or Tesla to succeed, he was as belligerent about it as he was wrong.

Persons: Elon Musk, Tesla, Musk, he'd, OpenAI's, OpenAI, he's, Greg Brockman, Sam Altman, didn't, Brockman, It's, Altman, Tesla's Organizations: Tesla, Google, Facebook, Altman Locations: Shanghai, China, OpenAI

☆ NYCB stock is down over 40%, in latest sign the bank is in dire straits
▼ + stars: | 2024-03-06 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of New York Community Bank (NYCB) plunged more than 40% Wednesday afternoon after The Wall Street Journal reported that the beleaguered regional lender is seeking a major cash infusion. Then last week, the bank said in a filing it had identified “material weakness” in the company’s controls. The issues caused a $2.4 billion loss to shareholders last quarter, NYCB said. The delay draws eerie parallels to First Republic Bank, which postponed reporting its quarterly earnings shortly before it failed last year. First Republic Bank similarly needed an emergency cash infusions not long before it collapsed.

Persons: NYCB, NYCB didn’t, Alessandro DiNello Organizations: New, New York CNN, New York Community Bank, Street Journal, ”, First Republic Bank, US Treasury Department Locations: New York

☆ Gaza Humanitarian Issues Will Be a Top Blinken Priority, White House's Sullivan Says
▼ + stars: | 2024-02-04 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - Humanitarian issues in Gaza will be a top priority for U.S. Secretary of State Antony Blinken on his current trip to the region, White House national security adviser Jake Sullivan said on Sunday. Blinken was en route to the Middle East in a trip that will include stops in Israel, Egypt, Qatar, Saudi Arabia and the West Bank this week. A top priority for Blinken on this trip will be to get humanitarian help for Gaza Palestinians who are in dire straits after months of military response from Israel to the deadly Oct. 7 attacks in Israel by Hamas. The United States believes it is vital to secure a deal to release the remaining hostages Hamas took during its attack, including American hostages, and an accompanying humanitarian pause, Sullivan said. War in Israel and Gaza View All 194 Images"This is in the national security interest of the United States.

Persons: Antony Blinken, Jake Sullivan, Blinken, Sullivan, Doina Chiacu, Louise Heavens, Will Dunham Organizations: WASHINGTON, U.S, House, West Bank, CBS Locations: Gaza, Israel, Egypt, Qatar, Saudi Arabia, States, United States

☆ Ahead of Election, Pakistan Seals Plan to Sell National Airline
▼ + stars: | 2024-02-01 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +8 min

"Our job is 98% done," Privatisation Minister Fawad Hasan Fawad told Reuters when asked about the plan to sell the airline. Details of the privatisation process have not been previously reported. PIA had liabilities of 785 billion Pakistani rupees ($2.81 billion) and accumulated losses of 713 billion rupees as of June last year. Its CEO has said losses in 2023 were likely to be 112 billion rupees. PIA spokesman Abdullah Hafeez Khan said the airline was assisting the privatisation process, extending "full cooperation" to the transaction adviser.

Persons: Asif Shahzad, Fawad Hasan Fawad, Fawad, Ernst & Young, Shamshad Akhtar, Abdullah Hafeez Khan, Nawaz, Nawaz Sharif, Imran Khan, Sharif's, Ishaq Dar, EASA, Brendan Sobie, Gibran Peshimam, Raju Gopalakrishnan Organizations: Pakistan International Airlines, International Monetary Fund, PIA, IMF, Reuters, Caretaker, Ernst &, Ernst, FAST, Pakistan Muslim League, European Union Aviation Safety Agency, Heathrow, Manchester, Birmingham, Kuwaiti Locations: Asif Shahzad ISLAMABAD, Pakistan, Czech, Hungarian, Karachi, Europe, Kuala Lumpur, Toronto, Singapore, East, North America, Paris, New York

☆ After a Slow Start, Sundance Finishes With Plenty of Sales
▼ + stars: | 2024-01-29 | by ( Nicole Sperling | ) www.nytimes.com time to read: +1 min

Talk of the demise of the Sundance Film Festival as an incubator for audience-friendly independent films appears to have been greatly exaggerated. The festival was no longer featuring independent films that could go on to be commercially viable, the thinking went. As has been the case in recent years, streaming services made the flashiest deals. Netflix paid a reported $17 million for the horror film “It’s What’s Inside” and Amazon/MGM bought “My Old Ass,” starring Aubrey Plaza, for $15 million. “Skywalkers: A Love Story,” a documentary about a Russian couple who save their marriage by scaling skyscrapers, was acquired by Netflix, while Warner Bros.

Persons: ”, Aubrey Plaza, Christopher Reeve Organizations: Sundance, Hollywood, Netflix, MGM, Warner Bros, Max, “

☆ Israel's ban on Palestinian workers is causing supply shocks to its economy: central bank governor
▼ + stars: | 2024-01-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

"And it's primarily in the construction industry where ... a third of that industry is Palestinians from the West Bank, and now they're not coming in to work." "It's also affecting agriculture, where they are in, and there are other foreign workers," Yaron said. watch nowThe ban on most of these workers returning to their employment in Israel has dramatically hurt the economy of the West Bank. In late December, Israel's finance ministry warned that the ban on Palestinian workers could cost Israel's economy billions of shekels per month. Fifty percent of the sites are closed and there is an impact on Israel's economy and the housing market."

Persons: Amir Yaron, Kobi Wolf, CNBC's Dan Murphy, Yaron, Raul Sargo Organizations: Bank of Israel, Bloomberg, Getty, Economic, West Bank, Israel, Times, Israel Builders Association Locations: Jerusalem, Israel, Davos, Gaza, Times of Israel, Thailand

☆ Clashes on border with Israel uproot thousands in Lebanon - again
▼ + stars: | 2023-11-23 | by ( John Davison | ) www.reuters.com time to read: +6 min

[1/4] Children look out from balconies in Shatila Palestinian refugee camp, in Beirut suburbs, Lebanon November 21, 2023. Rostom is Lebanese, Mashouz is a refugee from Syria and Hajeh is a Palestinian refugee. Hajeh has fled his crowded refugee camp four times this year during fighting between militant groups. Since the Israel-Hamas war began seven weeks ago in Gaza, the clashes on Lebanon's border with Israel have displaced nearly 50,000 people, according to U.N. figures, and at least 13 civilians have been killed in Lebanon, Lebanese officials say. Hajeh, the Palestinian refugee, left Yarmouk refugee camp in Syria in 2013 under the bombs of Syrian warplanes.

Persons: Mohamed Azakir, Rose Rostom, Nahida Mashouz, Ammar Hajeh, Rostom, Mashouz, we'd, We've, Jacob Boswall, Ziad Makary, We're, Charbel Alam, Hajeh, Timothy Organizations: REUTERS, Palestinian, Islamic, Hamas, Islamic State, Mercy Corps, Timothy Heritage, Thomson Locations: Beirut, Lebanon, Gaza, Israel, Lebanon BEIRUT, Syrian, Islamic State, Western, Iran, Rostom, Syria, Palestinian, Hajeh, Sidon, Raqqa, Rostom's, Europe, tatters, Lebanese, Rmeich, Yarmouk, Ain El, Ain El Hilweh

Dire Straits Frontman Mark Knopfler Is Putting Some of His Guitars up for AuctionDire Straits frontman Mark Knopfler will sell off a collection of guitars he considers “old friends” at a Christie’s auction in London next year

Persons: Mark Knopfler, ” Organizations: Dire Straits, Dire Locations: Dire, London

☆ True or not, DeSantis can't escape the raised boot rumors as his campaign falters
▼ + stars: | 2023-11-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +4 min

Republican presidential candidate and Florida Gov. Menswear experts and others have alleged DeSantis wears lifts in his boots to make him look taller. Videos on TikTok of users giving their own thoughts on DeSantis' boots have garnered millions of views. If it was the beginning of the campaign or if DeSantis held a commanding lead, the attention to DeSantis' footwear would likely be another speed bump in a long campaign. October has come and gone, and with two months to go until the Republican presidential caucuses in Iowa, DeSantis is still miles behind Trump in national polling.

Persons: Ron DeSantis, It's, —, it's, DeSantis, There's, Derek Guy, bootmakers, Donald Trump, hadn't, Trump, FiveThirtyEight Organizations: Florida Gov, Service, Disney, Republican, Fox, Lucchese, Washington Post, PAC, Trump Locations: Florida, American, Iowa

☆ Having fun is more expensive than ever. It's making people feel worse about the economy.
▼ + stars: | 2023-10-12 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Even as inflation cools and the economy stays strong, people still feel uneasy about the current outlook. Now, price growth is slowing down, but not necessarily for the things Americans want. But prices on things Americans want to do — like go to movie theaters, buy alcohol, or care for their pets — are still persistently high. Even with wages going up, inflation is making it more costly to go out to eat or even Netflix and chill. AdvertisementAdvertisementEven as more Americans land jobs, high inflation has left some Americans in dire straits and disproportionately hits the country's lowest earners.

Persons: —, there's, Labor Julie Su Organizations: Service, Student, Suffolk University Sawyer Business School, USA, Labor, Bureau of Labor Statistics, Census Bureau, Survey

☆ China's economic situation isn't as dire as it seems, and policymakers in Beijing were just expecting too much, economist says
▼ + stars: | 2023-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

China's economy isn't doing as bad as it seems, according to economist Nancy Qian. But Beijing has been disappointed due to outsized expectations for economic growth. Though it's weighed down by a bloated property sector and looming demographic problems, China's economic growth actually clocked in at 6.3% year-over-year over the second quarter, according to the Organization for Economic Cooperation and Development. That's the second-highest projected growth rate among countries tracked by the OECD, with the US, by comparison, slated to grow just 2.2% this year. AdvertisementAdvertisement"But is China's economy really in dire straits?

Persons: Nancy Qian, it's, That's, Qian Organizations: Service, Organization for Economic Cooperation, Development, OECD, Northwestern University, Northwester's, Research Lab, China Econ, Syndicate, Japan Locations: Beijing, Wall, Silicon, China, Italy, Spain, Sweden

☆ Dire Straits guitarist Jack Sonni dies age 68
▼ + stars: | 2023-09-01 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +1 min

CNN —Jack Sonni, former guitarist for British rock band Dire Straits, has died, the group announced on social media. “#JackSonni Rest In Peace” the band wrote on X, formerly known as Twitter, on Thursday alongside a black and white photograph of the guitarist. Sonni, who was born in Indiana, Pennsylvania, met founding Dire Straits members and guitarists David and Mark Knopfler while working in a guitar shop in Manhattan in 1978, according to a post on the Dire Straits Blog, which was shared by the band on social media. “So sorry to hear the sad news that Jack Sonni has died, we loved having him with us on the Brothers in Arms tour, fond memories,” Illsley wrote in a post on Facebook Thursday. Alongside his musical career, Sonni was also a writer and hosted a podcast, “The Leisure Class with Jack Sonni.”

Persons: Jack Sonni, Sonni, David, Mark Knopfler, John Illsley, Pick Withers, ” –, – Sonni, “, ”, ” Illsley Organizations: CNN, Dire Straits, Arms, Billboard, Facebook Locations: British, Indiana , Pennsylvania, Manhattan

☆ T-Pain in your living room: Are virtual concerts the future of live entertainment?
▼ + stars: | 2023-08-30 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +9 min

T-Pain is performing songs that will become a virtual reality (VR) concert, delivered directly to fans via VR headsets. “(Virtual reality) is a very big shift,” says Kyung Kuk Kim, vice president and head of production for AmazeVR. (AmazeVR says it plans to launch the T-Pain concert this Fall.) According to AmazeVR, pricing is currently per concert; it will cost $6.99 for one year of access to the T-Pain concert, for example, after that content launches. It is also producing and releasing mixed reality (MR) concerts – a combination of virtual and augmented reality – by overlaying virtual elements onto live, real-world video.

Persons: ”, I’m, Faheem Rashad Najm, “ I’m, AmazeVR, Megan Thee, “, Kyung Kuk Kim, Kim, Lance Drake, Drake, Mel Slater, Slater, ‘, ’ ”, ” Slater, ’ ” Slater, Jamie McCarthy, they’re, Taylor Swift’s, don’t, AmazeVR’s Kim, it’s, you’re, ” CNN’s Leif Coorlim Organizations: CNN, Florida -, Apple, VR, Dire, YouTube, University of Barcelona, Neuroscience, Technology, UN, Apple Vision Locations: Culver City , California, American, Florida, New York City

☆ It’s not just crime: What’s really going on with San Francisco’s shrinking retail district
▼ + stars: | 2023-08-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Mapping the exodusUnion Square has historically been a major commercial hub in the heart of San Francisco’s downtown. A complicated decline in downtownThe reasons for downtown San Francisco’s economic troubles are multi-faceted. In addition, San Francisco’s downtown has experienced a rise in its unhoused population. As San Francisco’s downtown area has emptied over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data. Travel to San Francisco has yet to recover fully to pre-pandemic levels, according to data from San Francisco International Airport.

Persons: —, ”, Elon Musk, Tesla, Francisco, “, Lori Lincoln, San Francisco —, Lincoln, Breed, Alexander Quinn, Breed’s, Sarang Peruri Organizations: Los Angeles CNN, Lease, Google, city’s, Nordstrom, CNN, Westfield, San Francisco Centre, KGO, University of California, San Francisco Police Department, San Francisco International, San Francisco Travel, Tourism, San, Oxford Economics, Asia hasn’t, San Francisco Mayor London, Francisco’s, Oxford Capital Group, Ikea, IKEA Locations: Francisco’s, United States, San Francisco’s, Union, Westfield, San Francisco, San, California, Redfin, Palo Alto, Asia, Americas, Europe, Pacific, San Mateo, Lincoln, China, Downtown, Chicago

☆ She Rose From Poverty as China Prospered. Then It Made Her Poor Again.
▼ + stars: | 2023-08-29 | by ( Li Yuan | More About Li Yuan | ) www.nytimes.com time to read: +1 min

Two years ago, as she walked through a hospital hallway in handcuffs and shackles to get tested for Covid, Sun Junli felt ashamed and defeated. The poor village girl in northwestern China had become a successful businesswoman. In 2018, state-owned banks abruptly stopped lending to her business, a chain of cafe restaurants, and the pandemic destroyed her cash flow. By May 2021, Ms. Sun had lost her restaurants, and she was serving 16 days in detention for owing her employees about $28,000 in wages. “We all came from nothing and worked hard to create wealth,” Ms. Sun said.

Persons: Sun Junli, Sun, Weeks, “, ”, Ms Organizations: Toyota Camry Locations: China, Xianyang, Shaanxi Province

☆ Western defense officials urge Ukraine to focus counteroffensive resources on southern push — even if it means heavy troop and equipment losses
▼ + stars: | 2023-08-23 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Western officials think Ukraine misallocated its counteroffensive resources, The New York Times reported. Defense strategists want Ukraine to focus its efforts on pushing toward the south. But a southern push could result in troop and equipment losses, the outlet reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. But Ben Hodges, a retired lieutenant general and former commander of US Army Europe, cautioned against counting Ukraine out too soon.

Persons: Ben Hodges, Hodges, Mark, Ukraine's Organizations: New York Times, Defense, Service, US Army, Ukrainian, Times, Joint Chiefs of Staff, Crimea materializes Locations: Ukraine, Wall, Silicon, Russia, Crimea, Bakhmut, Zaporizhzhia, US Army Europe

☆ WeWork plunges another 11% after announcing reverse stock split to try and keep NYSE listing
▼ + stars: | 2023-08-18 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

WeWork , the office-sharing company once valued at $47 billion, said Friday it will undergo a 1-for-40 reverse stock split to try and keep its stock from being delisted. "The Reverse Stock Split is being effected to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on the New York Stock Exchange," WeWork said in a filing with the SEC. The reverse split will take effect after the close of trading on Sept. 1, the company said. The move will do nothing to improve the company's financials or valuation but, based on Friday's close, it would lift the stock price to $5.60. With or without a higher stock price, WeWork is in dire straits.

Persons: WeWork, Masayoshi Son's SoftBank, Andrew Ross Sorkin, Adam Neumann Organizations: New York Stock Exchange, SEC, NYSE

☆ Saving Lives at the Grand Canyon, One Salty Snack at a Time
▼ + stars: | 2023-08-01 | by ( Rowan Moore Gerety | ) www.nytimes.com time to read: +1 min

Watching weary day hikers start the long uphill hike from Phantom Ranch, a ranger station at the bottom of the Grand Canyon, Jeff Schwartz has learned to look for telltale warning signs. “They’ve got the salt stains all over their shirt, and clearly have a day pack on, and you’re like, ‘let’s prevent some search and rescue by talking with these folks,’” said Mr. Schwartz, a paramedic and backcountry park ranger who has worked at Grand Canyon National Park since 2012. After a dozen summers on the trail, he also knows what to offer: a comfortable seat in the shade of the ranger’s office, maybe something salty to eat. An unplanned overnight at the Ranch may be in order for those in truly dire straits. At least seven have died in recent weeks from apparent heat-related causes — including one at the Grand Canyon, one in Death Valley and two at a state park in Nevada — as extreme temperatures this year have met increased visitation at national and state parks.

Persons: Jeff Schwartz, “ They’ve, ’ ”, Schwartz, ”, It’s Organizations: telltale Locations: Death, Nevada

☆ A Global Warming Book for the Streaming Age
▼ + stars: | 2023-07-10 | by ( Zoë Schlanger | ) www.nytimes.com time to read: +2 min

Lipsky’s book is a project of maximum ambition. He retells the entire climate story, from the dawn of electricity to the dire straits of our present day. We usually think of global warming as a modern malady, Lipsky writes, one that began in our lifetimes. Of course, all the modern climate graphs show that the red line had crept up by then. The book takes its title from two moments in time.

Persons: David Lipsky, David Lipsky’s, Lipsky, David Foster Wallace, Roger Revelle Organizations: The New York Times Locations: Swedish

☆ Syrians need 'way more' than pledged relief funds, ICRC says
▼ + stars: | 2023-06-15 | by ( Maya Gebeily | ) www.reuters.com time to read: +3 min

A total of $5 billion was pledged in grants for 2023 and another $1 billion for 2024 and beyond. More than 6 million Syrians are displaced in their own country and 5.5 million Syrian refugees live in neighbouring Turkey, Lebanon, Jordan and Iraq as well as Egypt. Donors scraped together an additional $1 billion in emergency relief funds following the devastating February earthquake that killed thousands in Syria. But trying to provide humanitarian help in Syria was "frustrating" without a political solution to resolve the protracted crisis. It's only politics, who can do that," Carboni said, adding: "we know that the solution is a political solution and that it's desperately needed."

Persons: Fabrizio Carboni, Carboni, Bashar al Assad's, it's, Maya Gebeily, Grant McCool Organizations: International Committee, Red, ICRC, Syrians, European Union, Thomson Locations: BEIRUT, Brussels, U.N, Turkey, Lebanon, Jordan, Iraq, Egypt, Syria, United States, Russia, Iran

☆ NATO Turkey: Alliance is in a race against time to save itself from a major embarrassment
▼ + stars: | 2023-06-01 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

CNN —NATO officials are in a race against time to avoid the embarrassment of seeing the alliance miss its own stated aim of admitting Sweden to the alliance by July 11. Sweden has a permanent delegation at NATO and is considered a close partner to the alliance, meaning joining should be relatively straightforward. The second is that Turkey isn’t the only fly in the ointment: Hungary also objects to Sweden joining NATO. Sweden joining NATO would be the latest in a long list of good news stories for the alliance since Russia invaded Ukraine. That’s precisely why officials are so concerned about Turkey vetoing Sweden’s accession on NATO’s own timetable.

Persons: it’s, Recep Tayyip Erdogan’s, Christine Olsson, Erdogan, Putin’s, Putin, ”, “ Erdogan, Yves Herman, –, Emmanuel Macron, Turkey vetoing Organizations: CNN, NATO, Russia, Kurdistan Workers ’ Party, Turkish, Reuters, TT, Agency, AFP, Sweden –, European Union, Diplomats, US, EU Locations: Sweden, Finland, Ukraine, Russia, Turkey, East, Europe, Ankara, Turkish, Stockholm, Lithuanian, Vilnius –, Atlantic, North Korea, China, ”, Eastern European, Brussels, Hungary, United States, United Kingdom, Asia

A man appeared on a budgeting podcast to seek help and raise awareness for mental health issues. A man struggling with huge debts appeared on a budgeting podcast last week, saying he was an example of how ignoring mental health can lead to financial problems. "It's been a really, really bad situation I've been in for the past couple of years," Duncan said. "I wanted to be on here to specifically platform how not treating your mental health issues can lead to massive financial strain that I'm in," he said. "Guys, if you have anything with mental health that you need to deal with, anxiety, depression, bipolar disorder, trauma, PTSD, etc.

☆ CEO coach shares the No. 1 reason you buckle under pressure—and 4 ways highly successful people avoid it
▼ + stars: | 2023-05-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Your decisions go awry when you allow the pressure of the moment to affect you, says Mailander. Know your blind spotsForming a network of devil's advocates can help you avoid blind spots. Mailander says one of his clients, a startup, uses a quarterly blind spot check-in exercise to avoid that fate. In other words, pressure decisions become more manageable when you can break them down into replicable steps. Look at how commanders of nuclear submarines prepare, Mailander says: They have to anticipate future problems, design processes to handle them and practice them until they become routine.

☆ George Santos tricked supporters into giving him money that he spent on designer clothes and credit card payments, feds allege
▼ + stars: | 2023-05-10 | by ( Natalie Musumeci | Madison Hall | ) www.businessinsider.com time to read: +3 min

Prosecutors allege embattled GOP Rep. George Santos tricked supporters into sending tens of thousands of dollars. After receiving the money, prosecutors said Santos spent thousands of dollars on designer clothes and credit card payments. Instead, Santos spent "thousands of dollars of the solicited funds on personal expenses, including luxury designer clothing and credit card payments," prosecutors allege in the indictment. Santos 2024In April, prior to being charged in New York, Santos announced his plan to run for a second term in office. This is about TAKING BACK our country and restoring greatness back to New York," Santos tweeted.

☆ Pakistan will do anything to get cheap oil as its economic crisis drags on — including paying for it in the Chinese yuan
▼ + stars: | 2023-05-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

An energy official signaled the country could use the CNY to pay for Russian crude oil, per a report. Pakistan, a country mired in an economic and political crisis, has become the latest to signal using the Chinese currency to make cross-border payments for Russian oil. "Pakistan will pay the price of crude most probably in China's currency — yuan," an unnamed Pakistan energy ministry official told the media outlet. Pakistan's purchase of Russian oil comes also amid sweeping sanctions against Moscow over its invasion of Ukraine. Russia's flagship Urals crude is trading at around a $20 per barrel discount to benchmark US and Brent crude oil currently.

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