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L'Oreal wants staff globally to work in the office on Fridays at least twice a month. The beauty company currently requires employees to work in the office three days a week. AdvertisementCosmetics giant L'Oreal has told employees to come to the office at least two Fridays a month to tackle diminishing attendance at the end of the week, The Times reported Sunday . L'Oreal employees are currently expected to be in the office three days a week. The company's CEO Nicolas Hieronimus recently reaffirmed the company's firm stance on in-person working while speaking at the World Economic Forum in Davos last month.
Persons: , Rinderknech, Nicolas Hieronimus Organizations: L'Oreal, Service, Times, Business, Economic, LinkedIn Locations: Davos
Meta's chief AI scientist Yann LeCun is sceptical that AI will reach human-level intelligence anytime soon. The AI godfather previously said that AI hasn't been able to fully capture the human experience yet. AdvertisementMeta's chief AI scientist has reiterated his skepticism about AI reaching advanced or human-level intelligence in the near future, contrasting the viewpoints of some more bullish tech leaders. LeCun explained that AI will likely reach "cat-level" or "dog-level" intelligence years before it achieves human-level intelligence. This is largely because AI is being trained on language models and text that are not sufficient to create advanced AI.
Persons: Yann LeCun, hasn't, , LeCun, Jensen Huang, Jensen, Huang Organizations: Service, Meta, AI Research, CNBC Locations: San Francisco
Gazan parents are writing their children's names on their bodies so they can be identified, per CNN. A Gazan doctor told the outlet the only way dead children can be identified is through that writing. More than 1,700 children have died under Israel's airstrikes, per Gazan health authorities. Gazan parents worry that "anything could happen" to their children, and no one will be able to identify them, Al Masri told CNN. The supervisor of the room at Al-Aqsa Martyrs Hospital, who refused to be named, told the outlet that parents writing their children's names on body parts is a "new phenomenon."
Persons: , Dr Abdul Rahman Al Masri, Al Masri, Dr Iyad Issa Abu Zaher, Martin Griffiths, Philippe Lazzarini Organizations: CNN, Service, Aqsa Martyrs Hospital, Gazan Health Ministry, Associated Press, International Committee, Cross, UN, Humanitarian Affairs, United Nations, United Nations Relief, Works Agency Locations: Al, Aqsa, Hamas, Israel, Gaza, Egypt, Rafah, Palestine
Stocks are bouncing but market will soon face next big hurdle
  + stars: | 2023-03-14 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +5 min
Strategists see the Federal Reserve's policy meeting next Tuesday and Wednesday as the next big hurdle for markets, barring any other unexpected developments. Traders in the futures market upped their bets Tuesday to a more than 70% chance that the Fed raises interest rates by a quarter point on March 22. Regional bank stocks rose sharply Tuesday after being crushed on fears there could be more bank failures, following the rapid collapse of Silicon Valley Bank and Signature Bank. The central bank will also release forecasts after that meeting, including new outlooks for interest rates and inflation. "Something pretty darn significant just broke as a result of higher rates," said Lori Calvasina, head U.S. equity strategist at RBC.
The bond market's recession warning has gotten more urgent
  + stars: | 2023-03-13 | by ( Patti Domm | In | ) www.cnbc.com   time to read: +5 min
The bond market is sending a more urgent recession warning and also signaling that the Federal Reserve may have to pause raising interest rates — giving up its fight against inflation. The sharp move in the 2-year yield also resulted in a rapid steepening of the yield curve. "The steepening always starts to happen because the market expects the Fed to cut rates in response to that recession." DoubleLine Capital CEO Jeffrey Gundlach also said the "aggressively steepening" of the Treasury yield curve after inversion is "highly suggestive of imminent recession." The 2-year yield jumped above 5% after he spoke.
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