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AdvertisementThe units are combining their outsourced investment services for ultra-high-net-worth wealth clients and institutional customers. The wealth management arm is there to help them pay less taxes on their windfall and manage their fortune. That said, Morgan Stanley has drawn the line in the past at some offerings like health savings accounts. AdvertisementFor Finn, those offerings are a means to an end: converting as many of these clients as possible to become fee-paying wealth management clients. The revenue and margins of the workplace channel and E-Trade, which Morgan Stanley acquired for $13 billion in 2020, are "irrelevant," he said.
Persons: , Morgan, Jed Finn doesn't, Finn, Andy Saperstein, James Gorman's, Saperstein, Jacques Chappuis, Ben Huneke, Andy Saperstein's, Larry Lettera, Wagner, multibillion, Morgan Stanley, Finn isn't, We're, Jeff McMillan Organizations: Service, McKinsey, bank's, Business, Wall Street, Solium, OpenAI, AIMS
Now, he can answer those questions mid-call by asking the bank's AI chatbot, which typically takes 15 to 20 seconds. Morgan Stanley plans to expand AI projects firmwide, promoting wealth management tech head, Jeff McMillan, in March to lead the effort. It can only reference the bank's internal content, can't use metaphors or analogies, and only answers questions related to wealth management. When asked if Donald Trump would make a good president, AIMS declined to answer, McMillan demonstrated to Business Insider. AdvertisementBefore AIMS, Morgan Stanley had a product called FAST that could answer about 5,000 questions.
Persons: , Patrick Biggs, Morgan Stanley, couldn't, Jeff McMillan, Donald Trump, McMillan, doesn't Biggs, Biggs, Morgan Stanley's, Morgan, We're, Morgan Stanley's chatbot, Dr, Seuss, Morgan Stanley McMillan, hasn't, Jed Finn, Patrick Biggs Stavros Panopoulos, Morgan Stanley Morgan Stanley's, Biggs isn't Organizations: Service, Business, OpenAI, AIMS, IBM, Morgan Locations: Cayman Islands
Now he can answer those questions mid-call by asking the bank's AI chatbot, which typically takes 15 to 20 seconds. Morgan Stanley plans to expand AI projects firmwide, promoting Jeff McMillan, the head of wealth-management tech, in March to lead the effort. It can reference only the bank's internal content, can't use metaphors or analogies, and answers questions related only to wealth management. When asked if Donald Trump would make a good president, AIMS declined to answer, McMillan demonstrated to Business Insider. Related storiesBefore AIMS, Morgan Stanley had a product called FAST that could answer about 5,000 questions.
Persons: Patrick Biggs, Morgan Stanley, couldn't, Jeff McMillan, Donald Trump, McMillan, doesn't Biggs, Biggs, Morgan Stanley's, Morgan, OpenAI, We're, Dr, Seuss, ChatGPT, Morgan Stanley McMillan, hasn't, Jed Finn, Patrick Biggs Stavros Panopoulos, Morgan Stanley Morgan Stanley's, Biggs isn't Organizations: Business, OpenAI, AIMS, IBM, Morgan Locations: Cayman Islands
Beyoncé released a genre-bending country album, “Cowboy Carter,” last week. In outlaw country tradition, “Cowboy Carter” settles scores with haters and with history. It was for the white Southern voters Nixon needed to win over amid massive resistance to Black enfranchisement. Embracing country music is a loyalty test for conservative politicians and right-wing pundits whose career ambitions align with white identity politics. Beyoncé singing country music in this political climate was always going to cause a stir.
Persons: Beyoncé, Cowboy Carter, , Cowboy Carter ”, , Richard Nixon, Nixon Organizations: Southern, Today’s Republican Party Locations: growled, Nashville, Texas
Listen to and follow ‘Matter of Opinion’Apple Podcasts | Spotify | Amazon MusicThe sociologist and New York Times columnist Tressie McMillan Cottom joins the hosts of “Matter of Opinion” this week to discuss the role of celebrity in politics. Could Beyoncé and Taylor Swift, with their tens of millions of fans, sway the presidential election? And beyond brand-name pop stars, what role does celebrity play within the political system? Plus, Tressie goes a little “Dr. (A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)
Persons: Tressie McMillan Cottom, Taylor Swift, Tressie, Oz ” Organizations: Spotify, New York Times
The bill is similar to Florida’s ban on diversity, equity and inclusion initiatives in public colleges, which was signed into law last May. This political theater lifts up a caricature of college, one on which coddled minds are seduced into liberal ideas. If states become hostile to students’ values, those students could choose to go elsewhere or to forgo college altogether. Part of a larger survey about students’ experiences of higher education, the report left me with one major takeaway: The national debate about so-called woke campuses does not reflect what most college students care about. They underscore how unhinged our national debate over higher education has become and how misaligned Republican-led public higher education systems are with the bulk of college students.
Persons: , haven’t Organizations: Higher Education, Republican, Bills, Public, Lumina Foundation, Gallup Locations: Florida, Alabama
The Morgan Stanley digital sign is seen at the company's Times Square headquarters in New York, U.S., on Friday, Jan. 12, 2016. Morgan Stanley promoted a tech executive in its wealth management division to become the bank's first head of firm-wide artificial intelligence, CNBC has learned. Last year, Morgan Stanley became the first major Wall Street firm to create a solution for employees based on OpenAI's GPT-4, a project overseen by McMillan. While Wall Street firms broadly pared back jobs last year, they competed to fill thousands of AI positions, poaching employees from one another. Read the full Morgan Stanley memo announcing McMillan's new role:
Persons: Morgan Stanley, Jeff McMillan, Andy Saperstein, Dan Simkowitz, McMillan, Teresa Heitsenrether, Goldman Sachs, Marco Argenti Organizations: company's, CNBC, Wall, JPMorgan Locations: New York, U.S, York
When the Pandemic Hit Home
  + stars: | 2024-03-12 | by ( Catherine Pearson | ) www.nytimes.com   time to read: +11 min
The World Health Organization declared Covid-19 a pandemic on March 11, 2020 — but we all have our own memories of when normal life stopped. ASIA EDWARDS, 39, BLOOMFIELD, N.J.Johnna Wallace While driving to work at the beginning of the pandemic, I couldn’t help but wonder: Was this how I was going to die? I am an emergency room nurse. Scott McGlasson My 55-year-old wife was dying from metastatic breast cancer when the pandemic hit. WENDY LAMPARELLI, 57, RIDGEFIELD PARK, N.J.Ellen Blossom Our home was hit by a tornado on March 3.
Persons: Sheehan Fisher, Katie MacGregor, KATIE MacGREGOR, WHITING , MAINE Asia Edwards Covid, ASIA EDWARDS, Johnna Wallace, JOHNNA WALLACE, Julie DeJager, Tom Hanks, JULIE DeJAGER, CLEVELAND , OHIO Katherine Schwartz, Covid, it’ll, , Wanda, KATHERINE SCHWARTZ, Jean Martirez Barton, , , JEAN MARTIREZ BARTON, Lauren Alzos, I’d, LAUREN ALZOS, BROOKLYN Farah Alvin My, Chuck E, cupcakes, ” FARAH ALVIN, Vicky Fleming I’m, VICKY FLEMING, Scott McGlasson, SCOTT McGLASSON, MINNEAPOLIS Aisha McMillan, AISHA McMILLAN, BALTIMORE Melissa Manning, MELISSA MANNING, CITY Sarah Cornwell, SARAH CORNWELL, Christie Poulton, CHRISTIE POULTON, Wendy Lamparelli, WENDY LAMPARELLI, Ellen Blossom, ELLEN BLOSSOM, NASHVILLE Maryann Briggs, Jasmine, MARYANN BRIGGS, Matt Dominianni, MATT DOMINIANNI, Carrie Shanafelt, CARRIE SHANAFELT, BRONX Ali Jordahl, Terri Tilford, I’m immunocompromised, TERRI TILFORD, Tim Prendergast, TIM PRENDERGAST Organizations: World Health Organization, Northwestern University Feinberg School of Medicine, The Times, Costco, GREAT, BJ’s Wholesale, Broadway, CITY, NASHVILLE, Bronx ., BRONX, ALI, ATLANTA, TIM Locations: Mason City , Iowa, WHITING , MAINE Asia, BLOOMFIELD, N.J, DURHAM, CONN, CLEVELAND , OHIO, New Mexico, Chicago, Albuquerque, EVANSTON, Manhattan, BROOKLYN, P.P.E, GREAT BARRINGTON, MINNEAPOLIS, BALTIMORE, HILLSBORO, RIDGEFIELD PARK, Covid, BOULDER, COLO, Bronx, Atlanta, PALM SPRINGS, CALIF
Pieter Tritton, a former cocaine smuggler, speaks with Business Insider about trafficking cocaine from Ecuador to Europe through a cartel connection. Tritton was arrested in Ecuador and sentenced to 12 years in one of the world's most violent and corrupt prisons. David McMillan is a British Australian former drug smuggler. Shaun Attwood is a former drug smuggler who ran a successful ring trafficking MDMA pills in the US in the '90s. He speaks with BI about his experience with drug-dealing gangs and how the drug market works.
Persons: Pieter Tritton, Tritton, David McMillan, Adi Jaffe, Jaffe, Shaun Attwood, Attwood, Neil Woods, Woods, incapablestaircase.com Adi Jaffe, Neil Organizations: University of California Locations: Ecuador, Europe, British Australian, Southeast, Central Asia, Los Angeles, American
Scientists in the UK investigated how a dog's breed, size, sex, and face shape affect lifespan. Flat-faced dogs, large dogs, and male dogs typically live shorter lives, the scientists discovered. Shown here are dog breeds that fall under the lowest 25% for longevity. AdvertisementAs a result, it may explain why the data suggested crossbreeds live shorter lives, McMillan said. Artificial breeding has shortened dogs' livesHuman-led dog breeding has led to new breeds that live shorter lives.
Persons: Shiba Inus, , poochies, Bernards, Anita Kot, Presa, Cane Corsos, Cane Corso, Bernard, Kseniya Starkova, Kirsten McMillan, Kirsten McMillian, McMillan Organizations: Lancashire, Service, Dog's Trust, Lakeland, French bulldogs, pugs, Dogs Trust, America Kennel, Westend61 Locations: St
How long will your dog live? Measure its nose
  + stars: | 2024-02-03 | by ( Amanda Schupak | ) edition.cnn.com   time to read: +6 min
CNN —Is your dog a small male with a long nose? If so, your furry companion is more likely to be at your side for a long time, according to new research. Small and medium dogs with pronounced schnozes lived over 12 years on average, while flat-faced dogs of all sizes fell short of that mark. The study includes millions of data points, but it doesn’t necessarily represent the full spectrum of companion dog life, McMillan said. “The ethical and welfare concerns surrounding dog breeding have become one of the most important issues — if not the most important issue — within canine welfare,” McMillan said.
Persons: , Kirsten McMillan, ” McMillan, expectancies, Shiba Inus, schnozes, Dan O’Neill, ” Esme Wheeler, , Wheeler, Silvan, ” Urfer, “ I’m, McMillan Organizations: CNN, Dogs Trust, bulldogs, French bulldogs, Italian greyhounds, Royal Veterinary College, Royal Society for, , University of Washington, Dogs Locations: United Kingdom, Italian, Lhasa, Frenchies, London, United States
The Dogs That Live Longest, by a Nose
  + stars: | 2024-02-01 | by ( Emily Anthes | ) www.nytimes.com   time to read: 1 min
There are exceptions to those broad trends, and the findings might not apply to dogs outside Britain, where breeding practices — and gene pools — may be different, the researchers noted. More research will be needed to determine why some breeds have shorter life spans than others. Some breeds are genetically predisposed to serious health problems, but breed-related differences in behavior, lifestyle, diet, environment or other factors could also play a role in shortening some dogs’ lives, experts said. “Now that we have identified these populations that are at risk of early death, we can start looking into why that is,” said Kirsten McMillan, an author of the new study and the data manager at Dogs Trust, a dog welfare charity in Britain that led the research. “This provides an opportunity for us to improve the lives of our dogs.”
Persons: , , Kirsten McMillan Organizations: Dogs Trust Locations: Britain
They blew a 17-point lead, watched Oregon go ahead by four and immediately responded with the drive of the game. And now the third-ranked Huskies not only are the Pac-12 champions, they secured a spot in the College Football Playoff with a 34-31 victory over No. Only Oregon State and Washington State will remain as they try to find a way to keep the tradition-rich conference together in some form. Washington took a 20-3 lead before the Ducks scored a touchdown with nine seconds left to get to within 10 points. The lead didn't last long as Washington scored on its next drive to take the lead for good.
Persons: — Washington, , Washington's Michael Penix Jr, “ We've, We're, Dan Lanning, , ” Dillon Johnson, Jalen McMillan, Rome Odunze, Oregon's Bo Nix, FanDuel Sportsbook, ” Nix, Washington, Nix, Terrance Ferguson, Jordan James, Penix, McMillan, you've, Kalen DeBoer, “ He's, He's, ___ Organizations: LAS VEGAS, Huskies, College Football, Oregon ., Oregon, Oregon State, Washington State, ” Ducks, Washington, The Huskies, Ducks, AP Locations: Oregon, Oregon . Washington, Washington, Seattle, ” Washington
Over the past few years, the social movement known as effective altruism has divided employees and executives at artificial-intelligence companies across Silicon Valley, pitting believers against nonbelievers. The blowup at OpenAI showed its influence—and the triumphant return of chief executive Sam Altman revealed hard limits, capping a bruising year for the divisive philosophy.
Persons: nonbelievers, Sam Altman Locations: Silicon Valley, OpenAI
Most employees at OpenAI have demanded that former CEO Sam Altman be reinstated after the company’s board fired him on Friday. Microsoft said late Sunday that it hired Altman to lead a new advanced artificial-intelligence research team. Photo: Justin Sullivan/Getty ImagesLast Friday, Ilya Sutskever sent a text message to his boss and fellow board member, Sam Altman . On the call was the rest of OpenAI’s board, but it was Sutskever, the company’s chief scientist and co-founder, who delivered the news. Altman was fired, “and the news was going out very soon.”
Persons: Sam Altman, Altman, Justin Sullivan, Ilya Sutskever, Organizations: OpenAI, Microsoft
Getting a second chance after missing wide right from 41 yards thanks to Buffalo being flagged for too many players, Lutz connected on a 36-yard field goal attempt as time expired to secure a 24-22 win over the sloppy, turnover-prone Bills on Monday night. The Broncos (4-5) have won three straight and four of six since a 70-20 loss at Miami. Lutz made four field goals and Javonte Williams scored on a 3-yard run. Allen’s second interception came in the final minute of the first half, and on the first play from scrimmage after Lutz hit a 49-yard field goal to put Denver up 12-8. Allen fluttered a pass up the left sideline that was easily intercepted by Fabian Moreau, which led to Lutz making a 40-yard field goal to close the half.
Persons: Wil Lutz, Lutz, , , Russell Wilson, Josh Allen, Ken Dorsey’s, Sean McDermott, Dorsey, ” McDermott, ” Lutz, Riley Dixon, Javonte Williams, Allen scampered, Wilson, Wilson —, Jerry Jeudy, Taron Johnson, Johnson, Courtland Sutton, I’m, Justin Simmons, “ You’re, it’s, ” Allen, Dalton Kincaid, Buffalo’s, Denver’s Ja’Quan McMillan, James Cook, Allen, Gabe Davis, Simmons, Allen’s, Allen fluttered, Fabian Moreau, ___ Organizations: — Broncos, Broncos, Miami, Kansas City, AFC West, Chiefs, Bills, AFC East, Buffalo, Buffalo’s, Denver, NEXT, Minnesota Vikings, New York Jets, ___ AP NFL Locations: ORCHARD, Denver, Buffalo
[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The job growth slowdown underscored views that the Federal Reserve may be done hiking interest rates. Benchmark 10-year yields fell as low as 4.484%, the lowest since Sept. 26. The U.S. dollar index dropped to a six-week low after the jobs data. In afternoon trading, the dollar index fell 1.111%, with the euro up 1.07% to $1.0734.
Persons: Brendan McDermid, Detroit's, Brad McMillan, Jerome Powell, Caroline Valetkevitch, Harry Robertson, Chibuike, Jacqueline Wong, Miral Fahmy, Alison Williams, Mark Heinrich, Rod Nickel, Diane Craft Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Federal, United Auto Workers, Commonwealth Financial Network, Bank of England, Traders, U.S . Treasury, Dow Jones, Nasdaq, Apple, Brent, Thomson Locations: New York City, U.S, Waltham , Massachusetts, Central, New York, London
[1/2] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The job growth slowdown underscored views that the Federal Reserve may be done hiking interest rates. The data also showed the increase in annual wages was the smallest in nearly 2-1/2 years, pointing to an easing in labor market conditions. The pan-European STOXX 600 index (.STOXX) rose 0.17% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 1.44%. The U.S. dollar index dropped to a six-week low after the jobs data.
Persons: Brendan McDermid, Detroit's, Brad McMillan, Jerome Powell, Caroline Valetkevitch, Harry Robertson, Chibuike Oguh, Jacqueline Wong, Miral Fahmy, Alison Williams, Mark Heinrich, Rod Nickel Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Federal, United Auto Workers, Commonwealth Financial Network, Bank of England, U.S . Treasury, Dow Jones, Nasdaq, Apple, Brent, Thomson Locations: New York City, U.S, Waltham , Massachusetts, Central, New York, London
[1/4] U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. The index was on track for its largest one-day fall since July. The numbers for September were revised lower to show 297,000 jobs created instead of 336,000 as previously reported. Against the yen, the dollar slid 0.6% to 149.53 yen , capping a whirlwind week, in which the Japanese currency touched a one-year low against the dollar and 15-year trough against the euro. Sterling rose 1.1% versus the dollar to $1.2327, after earlier hitting a six-week high of $1.2350.
Persons: Dado Ruvic, Brad McMillan, Kazuo Ueda, Sterling, Jerome Powell, Gertrude Chavez, Dreyfuss, Chibuike Oguh, Alun John, Ankur Banerjee, Christina Fincher, Andrea Ricci Organizations: REUTERS, Sterling, Federal Reserve, Commonwealth Financial Network, Bank of Japan, Reuters, Treasury, U.S . Treasury Department, Thomson Locations: Waltham , Massachusetts, U.S, New York, London, Singapore
US stocks jumped on Friday after a Goldilocks jobs report took pressure off of interest rates. The unemployment rate ticked up to 3.9% from 3.8%, and wage growth slowed. The weekly gain registered by the S&P 500 and Nasdaq 100 represented the largest weekly jump of the year. The unemployment rate ticked higher to 3.9% from 3.8%, and wage growth cooled to its lowest since 2021. Slower growth is still growth, and this jobs report is still in the sweet spot," Brad McMillan, CIO for Commonwealth Financial Network, said.
Persons: , Brad McMillan Organizations: Service, Federal, Nasdaq, Big Three, Treasury, Commonwealth Financial Network, Dow Jones
Opinion | An Anti-Obesity Drug and Cultural Stigmas
  + stars: | 2023-10-29 | by ( ) www.nytimes.com   time to read: 1 min
To the Editor:Re “Ozempic Can’t Fix What Our Culture Has Broken,” by Tressie McMillan Cottom (column, Oct. 15):By “broken” in the headline, the column implies that we still perpetuate a cultural bias against obese people. But for most, physical activity and healthy eating are still nature’s best prevention and remedy. Unlike Ozempic, they’re not a sexy quick fix. Maybe healthy eating and activity are just too simple. But viewing ourselves first as victims of unfair systems is also not the answer.
Persons: Tressie McMillan, they’re
"The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. Trading volumes of six exchange-traded funds tracking ether made a subdued start after launching on Oct. 2BACK TO BITCOIN? The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares (EETH.P), VanEck and Bitwise (AETH.P), have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether (BTF.O).
Persons: Bitcoin, Dado, Vetle Lunde, murkier, Lunde, Ben McMillan, McMillan, Bitwise, IDX, Lisa Pauline Mattackal, Sumanta Sen, Tom Wilson, Pravin Organizations: REUTERS, K33 Research, IDX, Federal, Chicago Mercantile Exchange, Thomson, Reuters Locations: Ukraine, ProShares, Bengaluru
The hope of avoiding a recession in the US heated up this year despite interest rates skyrocketing over the past 18 months. They also have more of a buffer than from the economic impact of inflation and higher interest rates than younger generations. AdvertisementAdvertisementWhile high interest rates and soaring prices for homes in recent years are terrible for young buyers, they are increasing the wealth of older Americans. Lance McMillan/Toronto Star via Getty ImagesMeanwhile, higher rates are helping older Americans grow their wealth in other ways. So older Americans who, in the past, would have been forced to sacrifice higher returns for safer investments can now get both.
Persons: boomers, , Taylor Swift, Tim Robberts, Ed Yardeni, Yardeni, they'll, they've, Lance McMillan, Neil Howe, demographer, Howe Organizations: Boomers, Service, Census Bureau, Labor, Images, Yardeni Research, New, Toronto Star, Getty, Treasury Locations: New York
When OpenAI unleashed its humanlike ChatGPT software on the world last year, one thing was clear: These AI systems are coming for our jobs. But don’t write off the humans just yet. More than a century ago, the advent of the automobile was bad news for stable hands, but good for mechanics. And AI is already creating new opportunities. Here are a few of them.
Persons: OpenAI, don’t
Check out the companies making headlines in midday trading. Carnival — Cruise line stocks rose as a group during midday trading. Sunnova Energy , Sunrun — Sunnova Energy added 2.2%, while Sunrun declined 1.1% after Truist downgraded the solar stocks to hold from buy ratings, citing near-term concerns from elevated interest rates. Cal-Maine Foods — Shares slipped 7.3% after the egg producer provided a weak earnings report, citing a dynamic market environment. Energy stocks — Energy stocks fell as a group during midday trading Wednesday as oil prices slid more than $3 a barrel.
Persons: Truist, Insulet, Wayde McMillan, Phillips, , Alex Harring, Samantha Subin Organizations: Fluor Corporation, UBS, Cruise, Royal Caribbean, Sunnova Energy, Energy, Cal, Maine, FactSet, Intel, — Energy, Marathon Petroleum Locations: Fluor, Insulet
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