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☆ F1's fanbase is shifting — and the 'Netflix effect' is only part of that
▼ + stars: | 2024-04-30 | by ( Chris Hawes | ) www.cnbc.com time to read: +6 min

Carlos Sainz of Ferrari during second practice ahead of the Formula 1 Las Vegas Grand Prix at Las Vegas Strip Circuit in Las Vegas, United States on November 17, 2023. Proponents of the "Netflix effect" often point to a poll taken in 2022 which found 28% of American adults considered themselves to be F1 fans, with more than half crediting "Drive to Survive." If this were true it would mean there were an incredible 72 million F1 fans in the U.S. alone. This argument runs out of road slightly however, when you consider that only 2 million Americans tuned in to watch the 2023 Miami Grand Prix. Today, F1 fans are estimated to be around 40% female, up from just 8% in 2017, as well as significantly more culturally diverse.

Persons: Carlos Sainz, Ferrari, Jakub Porzycki, Nielsen, it's, Toni Cowan, Brown, Cowan, Zak Brown, McLaren, It's, Buzz Radar, TJ Adeshola, Aston Martin, McLaren Unboxed, Lando Norris, Oscar Piastri, Thaier Organizations: Las Vegas, Nurphoto, Netflix, ESPN, IndyCar, NASCAR, Prix, Miami Grand Prix, CNBC, North, Anp, Getty, YouTube, Liberty Media, Aston, Aston Martin Racing, Buzz, Formula, sudani Locations: Las Vegas, United States, U.S, North America, North American, Nevada, Aston Martin, Australia, Bahrain

☆ Airspace closures throughout the Middle East ground, divert flights as Iran launches drone attack on Israel
▼ + stars: | 2024-04-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

El Al plane is seen at the Ben Gurion International Airport in Tel Aviv on December 31, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images)Airspace closures through the Middle East grounded and diverted flights on Saturday as Iran launched drones toward Israel. United Airlines , which resumed service to Tel Aviv early last month after suspending Israel flights after the Hamas attacks in October, called off its Newark to Tel Aviv flight on Saturday after Israel closed its airspace. American Airlines has not resumed Israel service. Flight-tracking site Flightradar24 said multiple flights bound for Tel Aviv and Amman had diverted on Saturday.

Persons: Jakub Porzycki, Delta, Flightradar24 Organizations: El, Ben Gurion International, Getty, United Airlines, Israel, American Airlines, Washington Dulles International Locations: Tel Aviv, Iran, Israel, United, Newark, Jordan, Iraq, Jordanian, Amman

☆ Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle
▼ + stars: | 2024-04-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Jakub Porzycki | Nurphoto | Getty ImagesCrypto startup Ripple is the latest major player to jump into the $150 billion stablecoin market with the launch of a digital currency pegged to the U.S. dollar. The move would pit Ripple against stablecoin giants like Tether, which is behind the largest stablecoin UDST, and USDC issuer Circle. Payments giant PayPal , meanwhile, launched its own U.S. dollar stablecoin called PayPal USD, a stablecoin backed by U.S. dollars and dollar equivalents that is issued by crypto firm Paxos. watch nowTether is the market leader for stablecoins with a market capitalization of $106.3 billion, according to CoinGecko data. "In fact, the number one request we get from the XRP community is to launch a USD-backed stablecoin on the XRP Ledger."

Persons: Jakub Porzycki, Brad Garlinghouse, he's, Garlinghouse, Tether's, USDT, USDC, MoneyGram Organizations: U.S, SEC, Nurphoto, Getty, U.S ., PayPal, CNBC, Bank, FinCEN, Santander, U.S . Securities, Exchange Commission, Southern, of Locations: U.S, Europe, Asia, New York, Ireland, Singapore, of New York

☆ Microsoft engineer warns company's AI tool creates violent, sexual images, ignores copyrights
▼ + stars: | 2024-03-06 | by ( Hayden Field | ) www.cnbc.com time to read: +11 min

Jones was noodling with Copilot Designer, the AI image generator that Microsoft debuted in March 2023, powered by OpenAI's technology. "It was an eye-opening moment," Jones, who continues to test the image generator, told CNBC in an interview. watch nowMicrosoft's legal department told Jones to remove his post immediately, he said, and he complied. Jones said the risk "has been known by Microsoft and OpenAI prior to the public release of the AI model last October." "I am certainly convinced that this is not just a copyright character guardrail that's failing, but there's a more substantial guardrail that's failing," Jones told CNBC.

Persons: Jakub Porzycki, Shane Jones, Jones, OpenAI's DALL, Lina Khan, Khan, deepfakes, he's, Satya Nadella, Sam Altman, Justin Sullivan, Darth Vader, Elsa, Mickey Mouse, guardrail that's Organizations: Microsoft, Nurphoto, Copilot, CNBC, Commerce, Science, Transportation, Federal Trade, Google, Getty, pitchfork, Disney, Wars, Palestinian, Israel Defense Forces Locations: Krakow, Poland, Redmond , Washington, San Francisco, hoodies, Gaza

☆ Arm's post-earnings pop leaves stock trading at over 100% premium to Nvidia
▼ + stars: | 2024-02-08 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

That agreement would have involved selling Arm for $40 billion, or just $8 billion more than SoftBank paid in 2016. Instead, Arm went public last year, and the company is now worth over $116 billion after the stock soared 48% on Thursday. SoftBank still owns roughly 90% of the outstanding stock, meaning its stake in Arm increased by over $34 billion in a day. watch nowChipmakers Nvidia and AMD have been Wall Street darlings of late due to their central position in the artificial intelligence boom. 'Gain market share'Arm has a different business model than Nvidia and AMD in that it's largely a technology licensing company.

Persons: Jakub Porzycki, Arm, SoftBank, Lisa Su, Steve Marcus Organizations: Nurphoto, Nvidia, AMD, Intel, Qualcomm Locations: SoftBank, Las Vegas , Nevada, U.S

☆ Evergrande's liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book COO says
▼ + stars: | 2024-01-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities. Still, questions remain on whether China will recognize the Hong Kong court order for Evergrande's liquidation — since most of the company's assets are in the mainland.

Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu, we've, Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong, Commerzbank

☆ Evergrande's liquidation crisis won’t be China’s ‘Lehman moment,’ China Beige Book CEO says
▼ + stars: | 2024-01-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

China Evergrande Group's logo is displayed on a phone screen in this illustration photo taken on September 27, 2021. Jakub Porzycki | Nurphoto | Getty ImagesA liquidation order to property giant China Evergrande liquidation crisis this week deepened concerns about China's struggling real estate sector — but analysts say the spillover will likely be contained, with one saying it might actually be "good news." On Monday, a Hong Kong court issued a liquidation order to the embattled property developer after it failed to reach a restructuring deal with creditors. In other words, no massive credit event," Qazi told CNBC. China Evergrande, once among the country's largest property developers, is the world's most indebted company — with more than $300 billion in liabilities.

Persons: Jakub Porzycki, Shehzad Qazi, Lehman, Qazi, CNBC's, It's, China Evergrande, Evergrande, Linda Chan, Charlene Chu Organizations: Nurphoto, CNBC, Lehman Brothers, Hong, Hong Kong Stock Exchange, China macrofinancial, Autonomous Research Locations: China, Hong Kong

☆ Samsung Electronics' operating profit falls 34.57% in the fourth quarter, in line with guidance
▼ + stars: | 2024-01-31 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

(Photo by Jakub Porzycki/NurPhoto via Getty Images) Jakub Porzycki | Nurphoto | Getty ImagesSamsung Electronics on Wednesday posted a 34.57% drop in operating profit in the fourth quarter from a year ago, in line with its guidance issued earlier this month. Here are Samsung's fourth-quarter results versus estimates: Revenue: 67.78 trillion Korean won (about $51 billion), vs. 69.27 trillion Korean won expected by LSEG analysts67.78 trillion Korean won (about $51 billion), vs. 69.27 trillion Korean won expected by LSEG analysts Operating profit: 2.82 trillion Korean won, vs. 3.43 trillion Korean won expected by LSEG analysts Samsung's revenue for the quarter ending December fell 3.8% from a year ago, while operating profit dropped 34.57% in the same period. In its earnings guidance earlier this month, Samsung said it expected operating profit for the October-December quarter to be 2.8 trillion South Korean won ($2.13 billion), down 35% from the same period a year ago when the firm reported an operating profit of 4.31 trillion won. Daiwa Capital Markets in a Jan. 9 report said Samsung's revenue and operating profit estimates were "lower than our market estimates." "We aim to establish Samsung as the leading brand in the AI smartphone market," said Samsung.

Persons: Jakub Porzycki, SK Kim, Apple, Bryan Ma, Ma Organizations: Samsung, Getty, Nurphoto, Samsung Electronics, Korean, South Korean, Daiwa, SK, Apple, International Data Corporation, IDC Locations: Krakow, Poland

☆ AI hiring frenzy to fuel layoffs in other tech segments as firms strive to balance costs
▼ + stars: | 2024-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

(Photo by Jakub Porzycki/NurPhoto via Getty Images)As tech firms prioritize investments into artificial intelligence and go on a hiring spree, other segments are likely to see layoffs continue into 2024, according to industry experts. More than 20,000 tech employees have already lost jobs so far in 2024, according to tracker layoffs.fyi. "Google and the rest of Big Tech are betting big on AI while cutting back on non-strategic areas. Layoffs will continue to happen for Big Tech in some areas while the hiring frenzy in AI will be unprecedented as this arms race continues across the tech world," Dan Ives, managing director at Wedbush Securities, told CNBC. Google CEO Sundar Pichai last week warned employees there would be more job cuts this year as the company continues to shift investments toward AI.

Persons: Jakub Porzycki, Dan Ives, Sundar Pichai, Pichai Organizations: Getty, Google, Big Tech, Wedbush Securities, CNBC, Microsoft Locations: Krakow, Poland

☆ Robinhood launches crypto trading service in the EU
▼ + stars: | 2023-12-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Robinhood said its new crypto product would allow customers to buy, sell, and hold from a range of more than 25 tokens, including bitcoin, ether, ripple, cardano, solana, and polkadot. The company hopes to offer more tokens, as well as the ability to transfer and "stake," or earn rewards from, crypto in 2024. Robinhood is looking to tempt EU users into using its service with the ability to earn free bitcoin for users who trade lots and refer the app to their friends. The U.S. Securities and Exchange Commission has targeted several crypto firms, including Coinbase and Binance, with lawsuits alleging they violated securities laws. The EU, meanwhile, has proposed a comprehensive set of regulation, called the Markets in Crypto-Assets regulation, that would bring in stricter rules for crypto trading platforms and issuers of so-called stablecoins — tokens pegged to real-world assets like the U.S. dollar or euro .

Persons: Jakub Porzycki, Robinhood Organizations: Getty, European Union, U.S . Securities, Exchange Commission, U.S . Locations: Krakow, Poland, United States, solana, U.S, U.K, EU, Crypto

☆ Nvidia to develop new chips that comply with U.S. export regulations
▼ + stars: | 2023-12-06 | by ( ) www.cnbc.com time to read: +1 min

Nvidia logo displayed on a phone screen and microchip and are seen in this illustration photo taken in Krakow, Poland on July 19, 2023. (Photo by Jakub Porzycki/NurPhoto via Getty Images)Nvidia will continue to develop a new set of products that comply with U.S. government regulations involving exports of high-end chips to China, its CEO Jensen Huang said on Wednesday. "Nvidia has been working very closely with the U.S. government to create products that comply with its regulations," Huang told reporters in Singapore at a news conference. "Our plan now is to continue to work with the government to come up with a new set of products that comply with the new regulations that have certain limits." Huang also said on Wednesday the company was in talks with Singapore about potential big investments.

Persons: Jakub Porzycki, Jensen Huang, Huang Organizations: Nvidia, Getty, U.S, Reuters Locations: Krakow, Poland, China, California, Singapore

☆ This tiny country drove 15% of Nvidia's revenue – here's why it needs so many chips
▼ + stars: | 2023-12-01 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

About 15% or $2.7 billion of Nvidia's revenue for the quarter ended October came from Singapore, a U.S. Securities and Exchange Commission filing showed. Revenue coming from Singapore in the third quarter jumped 404.1% from the $562 million in revenue recorded in the same period a year ago. Singapore only trailed behind the U.S. (34.77%,) Taiwan (23.91%) and China including Hong Kong (22.24%) in Nvidia's third-quarter sales rankings. "I would highly think it's due to data centers as Singapore has quite a lot of data centers and cloud service providers," Maybank Securities analyst Jarick Seet told CNBC. Building data centers, of course!," said Sang Shin, an ex-Temasek and GIC executive, in a LinkedIn post.

Persons: Jakub Porzycki, Jarick Seet, Sang Shin, Shin Organizations: Getty, Nvidia, U.S . Securities, Exchange Commission, Maybank Securities, CNBC, Temasek, GIC Locations: Krakow, Poland, U.S, Singapore, Taiwan, China, Hong Kong, Nvidia's, GIC

☆ A year after ChatGPT’s release, the AI revolution is just beginning
▼ + stars: | 2023-11-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Seemingly overnight, the user-friendly generative AI technology enraptured the globe. It also promised to revolutionize the future of white-collar work — so long as it didn’t cause an AI apocalypse in the process. ‘The world woke up to the AI revolution’And one year since ChatGPT’s public release, the fervor around AI is still at a fever pitch. And AI’s long-prophesied impacts to the labor market is also beginning to emerge, both inside and outside the tech industry. “Many, many, many jobs that are currently done by humans, AI will be able to do,” said Clune, the AI researcher at the University of British Columbia.

Persons: New York CNN —, Sam Altman, ChatGPT, ” Jeff Clune, hasn’t, ” Clune, ”, OpenAI’s, Jakub Porzycki, Suresh Venkatasubramanian, ” Venkatasubramanian, “ It’s, it’s, Venkatasubramanian, Clune, we’re, ChatGPT’s, OpenAI, David Paul Morris, “, CNN’s Kara Swisher, Altman, —, ” Altman Organizations: New, New York CNN, Big Tech, Tech, University of British, CNN, ChatGPT’s, Brown University, Economic Cooperation, Bloomberg, Getty, Microsoft — Locations: New York, University of British Columbia, Krakow, Poland, OpenAI, Asia, San Francisco , California

☆ Chinese E-Commerce Giant Temu Will Return to the Super Bowl
▼ + stars: | 2023-11-29 | by ( Patrick Coffee | ) www.wsj.com time to read: 1 min

Temu has increased its ad spending in recent months to grow more popular in the U.S. Photo: Jakub Porzycki/Zuma PressFor the second year in a row, Super Bowl viewers will hear from one of the fastest-growing Chinese-backed retail businesses. E-commerce platform Temu has committed to buying multiple ad units during the Super Bowl to be played Feb. 11, people with knowledge of the matter said.

Persons: Temu, Jakub Porzycki Organizations: Zuma, Super Bowl Locations: U.S

☆ Las Vegas Grand Prix: ‘Viva Las Vegas,’ sings Max Verstappen as he wins thrilling race
▼ + stars: | 2023-11-19 | by ( Aimee Lewis | ) edition.cnn.com time to read: +3 min

Unlike in many of the season’s previous races, however, Verstappen did not cruise to victory. Starting second on the grid, it wasn’t until lap 37 that the Dutchman passed Ferrari’s Charles Leclerc to take the race lead. Verstappen said afterwards that the race was “definitely a lot of fun.”“It was a tough one. I tried to go for it at the start,” he told reporters of his attempt to pass Leclerc at Turn 1. Perez, however, did secure second place in the drivers’ championship to ensure Red Bull will end the season with a one-two in the drivers’ championship for the first time.

Persons: Max Verstappen, Red Bull, Elvis Presley, Verstappen, Mike Blake, Reuters Verstappen, Sebastian Vettel, Michael Schumacher, Lewis Hamilton, Ferrari’s Charles Leclerc, Leclerc, George Russell, ”, ” Leclerc, Sergio Perez, Perez, Red, David Beckham, Jakub Porzycki, Russell, Brad Pitt, Justin Bieber, “, “ I’m Organizations: CNN, Las Vegas, Vegas, Sin City, Prix, Red Bull, Reuters, Mercedes, Hamilton, England Locations: Sin, Vegas, Austin, Miami, Turn

☆ Neopets is under new management and planning a comeback in a vastly different era of gaming
▼ + stars: | 2023-11-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +10 min

Since buying Neopets, Law said his team is in the process of restoring those minigames and modernizing them to enhance the experience. Competing in the current metaWhile Law is optimistic, he is aware that Neopets was born in a different era of video gaming. For Neopets, Law said the merch business would include both physical, like plushies and clothing, and digital, such as in-game purchases. In 2024, Law's team is planning to launch World of Neopets, a 3D simulator game that will utilize the existing Neopets world, but in a modern gaming environment. Does this mean that new Neopets games will replace the 24-year old Neopets.com?

Persons: Dominic Law, Neopets, Neopets …, Jakub Porzycki, NetDragon Websoft, Law, we've, John Legend, Kass Basher, Mickey Mouse Organizations: Neopets, Koelnmesse, CNBC, Gamescom, Law, Getty, Nurphoto, Adobe, Activision, Monopoly Locations: Asia, Singapore, asia, Canada, Hong Kong, Gamescom Asia, that's, Krakow, Poland, Neopets, U.S

☆ Microsoft CEO Satya Nadella talks AI, closing the Activision Blizzard deal, and his best business decision so far
▼ + stars: | 2023-10-22 | by ( Mathias Döpfner | ) www.businessinsider.com time to read: +47 min

Just like the cloud transformed every software category, we think AI is one such transformational shift. Therefore, this notion of Copilots that we're introducing is really going to be revolutionary in terms of driving productivity and communication. Milton Friedman once famously said: "the business of business is business." One is, is the business of business just business? So, I think AI can actually be very helpful in many ways to be a little more empathetic and more understanding of the world.

Persons: Satya Nadella, Axel Springer's, OpenAI, Nadella, Axel Springer, —, Mathias Döpfner, Pankaj Nangia, Steve Ballmer, Steve, I've, It's, I'd, Herbert Simon, Karl Marx, Lakshmi, Hayek, Marx, Justin Sullivan, Carol Dweck, they're, Vuk Valcic, That's, it's, you've, Jae, Copilot, Jeff Bezos, I'm, We've, Milton Friedman, Elon Musk, we've, Lina Khan, Sam Altman, Sam, Tomohiro Ohsumi, Bard, Bing, Mathias, wouldn't, Picasso, Jakub Porzycki, Mustafa Suleyman, We'll Organizations: Service, Microsoft, Olympic, Australia, Getty, Activision Blizzard, Gaming, AP, Windows, Linux, Children's Hospital, University of Wisconsin, Associated Press, Google Locations: Berlin, India, Hyderabad, Seattle, United States, Milwaukee, American, China, derisking, DC, Beijing, Europe, GitHub, British

☆ Polish president to consult with party leaders on forming govt
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Poland's President Andrzej Duda prepares to cast his ballot during the parliamentary election in Krakow, Poland, October 15, 2023. "The meetings will be held separately with each of the election committees, in the order in accordance with the results achieved by these committees in the elections." Duda said before the vote that he would give the first shot at forming a cabinet to the group or party that won most ballots. "The president knows his responsibilities and will not give in to pressure," aide Malgorzata Paprocka told Rzeczpospolita daily. This means the process of forming a new government in Poland, the largest country in the EU's eastern wing, could take weeks or even months.

Persons: Andrzej Duda, Jakub Porzycki, Wyborcza.pl, Duda, Michal Kobosko, Duda's, Malgorzata Paprocka, Alan Charlish, Gareth Jones Organizations: REUTERS, Rights, Union, Law and Justice, Rzeczpospolita, Thomson Locations: Krakow, Poland, Brussels, Republic of Poland

☆ Apple rejected opportunities to buy Microsoft’s Bing, integrate with DuckDuckGo
▼ + stars: | 2023-10-05 | by ( Brian Fung | ) edition.cnn.com time to read: +6 min

But it also shows how Apple has wrestled with Google’s rise and how some at Apple yearned for “optionality.” Apple didn’t immediately respond to a request for comment. (Last week, Nadella testified that he has spent every year of his tenure as CEO trying to persuade Apple to adopt Bing.) He made a similar argument internally about DuckDuckGo, saying in an email that moving ahead with that partnership was “probably a bad idea.” (DuckDuckGo licenses search results from Bing.) Still, Giannandrea testified, some within Apple thought that dealing with Bing in some fashion could yield benefits to Apple. Apple today has the enormous resources to build a true rival to Google, Giannandrea testified.

Persons: Microsoft’s Bing, they’ve, Gabriel Weinberg, John Giannandrea, Apple, Apple didn’t, Laura Jones, Jeff Chiu, Giannandrea, Bing, Tim Cook, Satya Nadella, Nadella, DuckDuckGo, Weinberg, Jakub Porzycki, ” Weinberg, ”, Apple’s, Cook, Bing “, “, Adrian Perica, ” Giannandrea, “ it’s Organizations: CNN, Apple, Google, Microsoft, Cook, Bing, Mozilla, Opera, Samsung Locations: Bing, San Francisco

☆ Cisco acquiring cybersecurity company Splunk in cash deal worth $28 billion
▼ + stars: | 2023-09-21 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

(Photo by Jakub Porzycki/NurPhoto via Getty Images)Cisco is acquiring cybersecurity software company Splunk for $157 a share in a cash deal worth about $28 billion, the company said Thursday. The acquisition is one of Cisco's largest, and continues an acquisition streak which has built out the company's cybersecurity offerings. Splunk is a cybersecurity company that helps enterprises monitor and analyze their data to minimize the risk of hacks and resolve technical issues faster. If Cisco backs out of the deal or is forced to do so because of regulatory intervention, it will pay Splunk a termination fee of $1.48 billion, according to a regulatory filing. If Splunk backs out of the deal for any reason, it will pay a $1 billion breakup fee to Cisco.

Persons: Jakub Porzycki, Chuck Robbins, Robbins, Simpson Thacher, Moore, Morgan Stanley, Flom, Splunk Organizations: Getty Images, Cisco, Tidal Partners, Qatalyst Partners Locations: Krakow, Poland, Slate

☆ Bed Bath & Beyond shareholders left holding 'worthless stock' as bankruptcy hearing approaches
▼ + stars: | 2023-08-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Jakub Porzycki | Nurphoto | Getty ImagesBed Bath & Beyond shares continue to trade at enormous volumes even as the wildly popular meme stock appears weeks away from being declared worthless. It also plans to adopt the company's stock ticker and change the current OSTK with BBBY in the hope of capitalizing on the long-standing household name. In its SEC filing in April, the company cautioned that trading in its stock during the ongoing Chapter 11 cases was "highly speculative and poses substantial risks." The company's planned confirmation hearing will take place on Sep. 12, but there have been no positive catalysts to the recent purchases of the company's shares. This would suggest that the current vast swathes of investors trading in the company's stock may be doing so purely on doomed speculation, and will be left empty handed.

Persons: Jakub Porzycki, Ryan Cohen Organizations: Nurphoto, Nasdaq, Overstock, BBBY, SEC, GameStop Locations: Williston , Vermont

☆ Auschwitz Memorial criticises Musk's X for not removing antisemitic content
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

A man walks through the grounds of the former Nazi German Auschwitz death camp for the annual International "March of the Living" in Oswiecim, Poland April 18, 2023. Jakub Porzycki/Agencja Wyborcza.pl via REUTERS/File Photo Acquire Licensing RightsWARSAW, Aug 17 (Reuters) - The Auschwitz Memorial on Thursday criticised social media platform X, formerly known as Twitter, for failing to remove an antisemitic post on the site. Researchers have found an increase in hate speech and antisemitic content on the platform since he took over, and some governments have accused the company of not doing enough to moderate its content. More than 1.1 million people, most of them Jews, perished at the Auschwitz camp in gas chambers or from starvation, cold and disease. X earlier this month sued a nonprofit that fights hate speech and disinformation, accusing it of false claims and spooking advertisers.

Persons: Jakub Porzycki, Wyborcza.pl, Elon Musk, Alan Charlish, Andy Sullivan Organizations: REUTERS, Rights, Center, Thomson Locations: Nazi, Oswiecim, Poland, Nazi Germany, Europe

☆ Custom art, air purifiers and TikTok: College spending boom could booster retailers' sales this fall
▼ + stars: | 2023-08-10 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

Eros Hoagland | Getty ImagesOver the past few years, Alicia Browne has noticed a change in what college students haul out of cars on move-in days at the University of Alabama. A growing pie — and market share up for grabsAs college spending is poised to grow, retailers have another reason to vie for students' dollars. Jakub Porzycki | Nurphoto | Getty ImagesIt is difficult to estimate how much college market share Bed Bath had in total. Shipt, the Target-owned delivery service, and Walmart have both tried to attract more college students to their membership programs by offering a special discounted price. She said the company's growth has been fueled by college students who want uniquely decorated rooms that reflect their personalities.

Persons: Eros Hoagland, Alicia Browne, Keurig coffeemakers, decorators, Browne, Prosper, Browne chalks, " Browne, Marshal Cohen, Jakub Porzycki, Harmon, Cristina Fernandez, Sonoma, TikTok, Dormify, Amanda Zuckerman, Zuckerman, Kate Reppeto, Callie Weathers Kate Reppeto, Repetto, she's, Anna Emblom Organizations: University of North, Hill, University of Alabama, College, National Retail Federation, IRI, NPD, Target, Walmart, Consulting, Deloitte, Nurphoto, Goods, Ikea, Telsey Advisory, Williams, Hamptons, Madison, University of Mississippi, Eagle Locations: University of North Carolina, Chapel Hill , North Carolina, Kohl's, Bath, Bed, Williston , Vermont, New York City, Madison Ave, Oxford, Miss, Southlake, Dallas, Fort Worth in Texas, Birmingham, Ala

☆ There's a lot to like in Apple's quarter, signaling shares have more to run than we thought
▼ + stars: | 2023-08-03 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Revenue in Apple's fiscal third quarter of $81.8 billion edged down 1% but edged out expectations of $81.69 billion. Gross margin was 44.5%, expanding 126 basis points from a year ago and coming in slightly above the 44.3% estimate. However, as we've noted before, the installed base represents the outlet for Apple's higher margin, recurring revenue Services business. Cash flow & capital allocation In its June quarter, Apple generated operating cash flow and free cash flow results that were well above what the Street was looking for. Guidance For the current September quarter, Apple expects year-over-year revenue performance to be similar to the June quarter, assuming no worsening macro outlook.

Persons: we've, Apple, we're, it's, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Services, Management, Greater, Apple Watch, CNBC, Nurphoto, Getty Locations: Greater China, Europe, Americas

☆ Wall Street misses the big picture on Apple by focusing on softer iPhone sales
▼ + stars: | 2023-08-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Ahead of Club name Apple 's (AAPL) second-quarter results Thursday, some on Wall Street have warned the company could be weighed down by weakening iPhone sales. Analysts on Wall Street estimate $81.7 billion in sales, which would constitute a roughly 2.3% annual decline, according to FactSet. The country has become one of the top-five iPhone markets over the past quarter for Apple, according to Counterpoint Research. In a note to clients last week, Morgan Stanley forecasted that India could comprise 15% of Apple’s revenue growth over the next five years. Still, Wall Street is torn over iPhones sales and whether they will come in softer on Thursday.

Persons: Steve Cook, Cook, Morgan Stanley, Wells, we’re, we're, We're, hasn't, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Big Tech, JPMorgan, Tech, Research, CNBC, UBS, Bloomberg, U.S, Major League Soccer, Nurphoto, Getty Locations: India, China, Hong Kong, Taiwan, Americas, Europe

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