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☆ A former Democratic senator claimed a GOP congressman impregnated a 20-year-old staffer — and she may face legal trouble over it
▼ + stars: | 2024-02-26 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Former Sen. Heidi Heitkamp said Rep. Matt Rosendale suspended his campaign because he impregnated a staffer. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFormer Sen. Heidi Heitkamp is facing potential legal action after she said a Republican congressman impregnated a young staffer. Advertisement"This is 100% false and defamatory and former Sen. Heitkamp will be hearing from our lawyers soon," said Kovach.

Persons: Sen, Heidi Heitkamp, Matt Rosendale, —, Heitkamp, Kevin McCarthy, Donald Trump's, Tim Sheehy, Ron Kovach, who's, Kovach Organizations: Service, Republican, North Dakota Democrat, House Republicans, Business, University of Chicago's Institute of Politics Locations: Montana, Rosendale

☆ Big Tech has long avoided responsibility for online content. Generative AI could end that.
▼ + stars: | 2023-12-18 | by ( Kali Hays | ) www.businessinsider.com time to read: +8 min

For decades, Big Tech companies have avoided responsibility for anything posted on their platforms. Generative AI is about to end this prized legal protection. Meta, Google, Microsoft, Amazon and even Apple have spent the last year rushing to roll out generative AI tools and models to compete with OpenAI. Generative AI models and tools, however, are developed, owned and operated by Big Tech companies. Otherwise, by creating generative AI tools and providing the outputs, Chander sees few ways a tech company will be able to refute its role in generative AI content.

Persons: Meta, Bard, Mark Zuckerberg, what's, Aziz Huq, Anupam Chander, Chander, Huq, they've, Jason Schultz, It's, Schultz, " Shultz, Kali Hays Organizations: Big Tech, Google, Microsoft, Apple, Facebook, Business, Meta, University of Chicago's Law School, Georgetown Law, Institute, Rebooting Social Media, Harvard University, NYU Law, Technology Law, Policy Clinic, Twitter Locations: khays@insider.com, @hayskali

☆ Trump gag order reinstated in Jack Smith federal election case
▼ + stars: | 2023-10-30 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A federal judge reimposed a gag order on Donald Trump in his criminal election interference case, rejecting Trump's arguments that the restrictions on his speech were unconstitutional. Trump called Barr "dumb" and "weak" and a "loser," in response to Barr's remarks at the University of Chicago's Institute of Politics last week. A spokesman for special counsel Jack Smith, whose team is prosecuting the case, declined to comment on whether Trump's latest attack on Barr violated the gag order. Lawyers for Trump had asked for a longer stay of the gag order while they appealed it in a higher court. Trump has already violated that gag order twice, drawing a total of $15,000 in penalties.

Persons: Donald Trump, Tanya Chutkan, Chutkan, Trump, Mark Meadows, William Barr, Barr, Jack Smith, Smith, Joe Biden, Neal Katyal, Obama Organizations: Trump, Republican, White, University of Chicago's Institute, Politics, Lawyers Locations: Washington, Meadows, U.S, New York

☆ Asia, Africa bear brunt of pollution health burden - research
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Garcia Rawlins/File Photo Acquire Licensing RightsSINGAPORE, Aug 29 (Reuters) - Despite improvements in China, air pollution across the globe continues to pose the greatest external risk to human health, with countries in Asia and Africa suffering most of the impact, new research showed on Tuesday. PM2.5 in South Asia has risen by nearly 10% since 2013, she said, cutting average life expectancy in the region by around five years. Virtually all of Southeast Asia is also now considered to have "unsafe levels of pollution", with average life expectancy cut by 2-3 years. China's average PM2.5 concentrations stood at 29 micrograms per cubic metre in 2022, but it still remains significantly higher than the WHO recommendation of 5 micrograms. "We haven't turned the corner on air pollution yet, though China's example shows us that the issue is a tractable one," Hasenkopf said.

Persons: Carlos Garcia Rawlins, Christa Hasenkopf, haven't, Hasenkopf, David Stanway, Stephen Coates Organizations: REUTERS, Rights, University of Chicago's Energy Policy Institute, EPIC, World Health Organization, WHO, Thomson Locations: Beijing, China, Asia, Africa, Bangladesh, India, Pakistan, Nigeria, Indonesia, South Asia, Southeast Asia

☆ Air pollution now a major risk to life expectancy in South Asia - study
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

The region, which includes the world's most polluted countries of Bangladesh, India, Nepal, and Pakistan, accounts for more than half of the total life years lost globally to pollution, the University of Chicago's Energy Policy Institute (EPIC) said in its latest Air Quality Life Index. Rapid industrialization and population growth have contributed to declining air quality in South Asia, where particulate pollution levels are currently more than 50% higher than at the start of the century and now overshadow dangers posed by larger health threats. In the densely populated New Delhi, the world's most polluted mega-city, the average life span is down by more than 10 years. Reducing global levels of lung-damaging airborne particles, known as PM 2.5, to levels recommended by the World Health Organization (WHO) could raise average life expectancy by 2.3 years, or a combined 17.8 billion life years, the report said. China, meanwhile, has worked to reduce pollution by 42.3% between 2013 and 2021, the report said, highlighting the need for governments to generate accessible air quality data to help bridge global inequalities in accessing tools to combat pollution.

Persons: Blassy Boben, Mike Harrison Organizations: DELHI, University of Chicago's Energy Policy Institute, EPIC, World Health Organization, WHO, Thomson Locations: New Delhi, India, South Asia, Bangladesh, Nepal, Pakistan, United States, Delhi, China

☆ Goldman Sachs' Jeff Currie, who predicted commodities supercycle, to retire
▼ + stars: | 2023-08-07 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 7 (Reuters) - Goldman Sachs' (GS.N) global head of commodities research Jeff Currie, a prominent analyst who accurately predicted a surge in commodity prices in the 2000s, is retiring, according to a memo seen by Reuters. Julian Salisbury, chief investment officer of its asset and wealth management arm, is departing to join investment firm Sixth Street, according to an announcement last month. His forecast was borne out in what would become known as the commodities supercycle, during which crude oil surged to record highs in 2008. More recently, Currie revived his prediction for another supercycle fuelled by pandemic stimulus measures and rebounding economic activity. Currie joined Goldman in 1996 and was promoted to managing director in 2002, then partner in 2008.

Persons: Goldman Sachs, Jeff Currie, Currie, Julian Salisbury, Jan Hatzius, Goldman, Dina Powell McCormick, Lisa Opoku, Saeed Azhar, Lananh Nguyen, Sam Holmes Organizations: Reuters, Sixth, Reuters Commodities Summit, University of Chicago's Energy Policy Institute, Goldman, Thomson

☆ Support for using violence to 'coerce' members of Congress nearly doubled over the last 6 months — even more so among Democrats — according to a study
▼ + stars: | 2023-07-25 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

A recent study found that public support for using violence to "coerce" members of Congress nearly doubled from January to June. Support among self-identified Democrats for political violence grew by about 250%, according to the study. The spike was most pronounced among self-identified Democrats: in January, 7% of Democrats supported using political violence against lawmakers, and that number climbed to 16% in June. By contrast, the support for political violence against Congress among self-identifying Republicans increased by 50%. Specifically, the survey found roughly 4% of Americans — an estimated 12 million people — supported using violence to return Trump to office in April.

Persons: Robert Pape, Donald Trump, Trump, Pape Organizations: Service, University of Chicago's, Security, —, University of Chicago, Republican Locations: Wall, Silicon

☆ Oppenheimer never won a Nobel Prize, but these 31 scientists with ties to the Manhattan Project did
▼ + stars: | 2023-07-24 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +26 min

Manhattan Project: After a harrowing escape from Nazi-occupied Denmark in 1943, Bohr began consulting on the Manhattan Project. Manhattan Project: Between 1943 and 1944, Muller was a civilian advisor for the Manhattan Project, consulting on experiments studying the effects of radiation. Maria Goeppert Mayer, Nobel Prize in Physics, 1963Maria Goeppert Mayer worked on the Manhattan Project and later won the Nobel Prize in physics. Manhattan Project: Working as an assistant to his father, Niels Bohr, Aage Bohr proved instrumental in interpreting for some members of the Manhattan Project. Manhattan Project: At 18, Glauber was still a student at Harvard when he became one of the youngest scientists to join the Manhattan Project.

Persons: Robert Oppenheimer, Alfred Nobel, Joseph Rotblat, Albert Einstein, Christopher Nolan's, Oppenheimer, Niels Bohr, Bohr, Nicholas Baker, Nick, James Franck, Boyer, Roger Viollet, Gustav Ludwig Hertz, Niels Bohr's, Franck, Arthur Compton, Imagno, Compton, Harold Urey, Harold, Urey, James Chadwick, Chadwick, Enrico Fermi, Fermi, Ernest Lawrence, Lawrence, Isidor Isaac Rabi, Nancy R, Schiff, Rabi, Hermann Muller, Muller, Edwin McMillan, Bettmann, Glenn Seaborg, McMillan, Elsie McMillan, Seaborg, Felix Bloch, Edward Purcell, Nobel, Hans Bethe, Bloch, Purcell, Emilio Segrè, Owen Chamberlain, Chamberlain, Segrè, Willard Libby, Leona Libby, Lowell, Libby, Linus Pauling, Leona Woods Marshall Libby, Eugene Wigner, Wigner, Leo Szilard's, Einstein, Franklin D, Roosevelt, Maria Goeppert Mayer, J, Hans Jensen, Goeppert Mayer, Teller, Richard Feynman, Tomonaga, Julian Schwinger, Fenynman, Hans Bethe's, Feynmwan, Feynman, Schwinger, Robert Mulliken, Mulliken, Szilard, Hans A, Bethe, Luis Alvarez, Alvarez, Enola Gay, Walter Alvarez, James Rainwater, Aage Bohr, Ben Mottelson, Rainwater, Wu, Aage Niels Bohr, Mottelson, mumbled, Val Fitch, James Cronin, Fitch, Jerome Karle, Isabelle, Larry Morris, Herbert Hauptman, Karle, Isabella Karle, Norman Ramsey, Ellie Welch, Ramsey, Norman Ramsey's Nobel, David Cheskin, Rotblat, Russell, Bertrand Russell, Enstinen, Frederick Reines, Philippe Caron, Sygma, Reines, Roy Glauber, Gail Oskin, Glauber Organizations: Manhattan Project, Service, Manhattan, US Army, AP, Getty, University of Chicago's Metallurgical Laboratory, Chicago Met, Los Angeles Examiner, USC, Columbia, Keystone, Gamma, Columbia University, University of Chicago, Trinity Test, University of California, Lawrence Berkeley National Laboratory, Lawrence Livermore National Laboratory, Hulton, Trinity, Deutsch, Los Alamos, University of Chicago's Metallurgical, Atomic Energy Commission, Harvard University, MIT Rad Lab, Denver, Chicago Met Lab, Materials Laboratory, Los, Radiation Laboratory, MIT, University of Chicago's, Princeton University, Naval Research Lab, Washington, US Naval Research Laboratory, Science, World Affairs, Einstein, Los Alamos National Laboratory, Harvard, Institute for Locations: Wall, Silicon, Polish, Denmark, Copenhagen, Nazi, London , Washington, Los Alamos, German, Germany, Japan, Manhattan, British, France, Washington, DC, Berkeley, Ridge , Tennessee, Los, New Mexico, Hanford, antiprotons, Hiroshima, Lowell Georgia, San Diego, Chicago, Washington ,

☆ The Black scientists behind the Manhattan Project, the atomic bomb program that inspired the movie 'Oppenheimer'
▼ + stars: | 2023-07-19 | by ( Yoonji Han | ) www.businessinsider.com time to read: +6 min

There were at least 19 Black scientists and technicians who worked on the Manhattan Project. In the labs, there were at least 19 Black scientists and technicians among the 400 or so scientists employed by the project. The project was unique for bringing together "colored and white, Christian and Jew" for a common cause, Arthur Compton, the Manhattan Project director in Chicago, said. The Manhattan Project did create opportunities for Black Americans' advancements, but many Black workers grappled with Jim Crow segregation. Many Black scientists involved in the Manhattan Project went on to build careers that advanced technology and expanded opportunities for other Black scientists.

Persons: Jim Crow, Robert Oppenheimer, Enrico Fermi, Arthur Compton, —, Franklin D, Roosevelt, William Jacob Knox , Jr, Knox, Jesse Ernest Wilkins, Wilkins, Jasper Jeffries, Carolyn Parker, Samuel Proctor Massie, Moddie Daniel Taylor, Jeffries —, Szilard, Truman, Du Bois, Langston Hughes Organizations: Manhattan, Americans, Service, Manhattan Project, Black Americans, Black, Bilderwelt, Chicago Defender, Atomic Heritage Foundation Black, Massachusetts Institute of Technology, Columbia University, University of Chicago's, University of Chicago, Met Lab, Atomic Heritage Foundation, MIT Locations: Wall, Silicon, Germany, New York City, Chicago, Government, Hanford, Manhattan, Negros, Japan, Hiroshima

☆ University of Chicago's Raghuram Rajan expects the Fed meeting to be dovish
▼ + stars: | 2023-05-01 | 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 EmailUniversity of Chicago's Raghuram Rajan expects the Fed meeting to be dovishRaghuram Rajan, University of Chicago professor, joins 'Closing Bell: Overtime' to discuss the banking sector and its impact on the economy and the next moves from the Fed.

☆ Sales, spins and splits — what are the differences and why do they matter for investors like us?
▼ + stars: | 2023-04-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +20 min

Investors may get one share in the spun-out entity for every share of the parent company they owned. What's left of J & J will be focused on pharmaceuticals and medical technologies, which were responsible for over 84% of the company's total 2022 revenue of $94.94 billion. It underscores that once free of the parent company tethers a divested company can chart its own destiny. Those priorities may not have necessarily been wrong when considering J & J as the overall enterprise. We believe J & J and Danaher are poised to deliver two more examples.

☆ Negative real wage growth likely to continue: University of Chicago's Tomas Philipson
▼ + stars: | 2023-04-21 | 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 EmailNegative real wage growth likely to continue: University of Chicago's Tomas PhilipsonTomas Philipson, professor at the University of Chicago, joins 'Closing Bell: Overtime' to discuss the debt ceiling, the Fed and inflation.

Her comments were echoed by others who feel the narrative shared by three top central banks of relatively cost-free disinflation rests on shaky ground. Among the Fed, ECB and BoE, only the British central bank projects a recession will be needed to slow inflation - only a mild one at that. U.S. central bank officials have split the difference, projecting a modest one-percentage-point rise in the unemployment rate this year from its near-historic low of 3.5%, and slow, but continued, economic growth. Martins Kazaks, Latvia's central bank chief, said the risk of a recession was still "non-trivial," with a host of factors still putting pressure on prices. For the Fed, different policymakers offer different ideas about the forces that will lower inflation as high interest rates slowly cool demand.

Economists who obsess about tightly calibrating the quantity of money in the system balk at QE as a tool. Two weeks of turmoil in mid-sized U.S. banks follow just nine months in which the Fed had been winding down its outsize balance sheet that peaked near $9 trillion during the pandemic. "Illiquidity episodes may force central banks to slow the process of reserve withdrawal. Reuters GraphicsILLIQUIDTY EPISODESThis could become a trap that prevents normalisation of the balance sheet longer term, they said. Better-measured and more forward-looking liquidity regulations, incentives for longer-duration deposits during QE bouts and rethinking stress tests were all options, they wrote.

☆ Op-ed: ESG investing and 2018 change in bank laws didn't cause Silicon Valley Bank to collapse, says former Sen. Heitkamp
▼ + stars: | 2023-03-21 | by ( Heidi Heitkamp | Former Democratic U.S. Senator North Dakota | ) www.cnbc.com time to read: +6 min

Within hours of the Silicon Valley Bank collapse, political spin machines on both the left and right got cranking. I was one of the Democrats on the Senate Banking Committee who negotiated that legislation, which granted regulatory relief to small community and mid-sized regional banks. Under the burden of increased regulation, smaller institutions and many regional banks were struggling to stay competitive. If all the bank depositors withdrew their deposits on the same day, any bank would fail regardless of liquidity or bank capitalization.) The Fed had the authority to enhance the current level of regional bank supervision, a step the central bank is considering in the wake of the SVB failure.

WASHINGTON, Jan 20 (Reuters) - The Federal Reserve is set to again slow the pace of its interest rate increases at a Jan. 31-Feb. 1 policy meeting while also signaling that its battle against inflation is far from over. Throughout last year, the Fed's rapid series of rate hikes were announced in a statement that also promised "ongoing increases" until rates were "sufficiently restrictive to return inflation to 2%." Fed officials were surprised in 2021 by the persistence of inflation that at one point was more than triple their 2% target. The unemployment rate is currently 3.5%, a level seen only rarely since World War Two. "Thus, I anticipate the need for further rate increases."

The Fed raised its benchmark overnight interest rate rapidly last year, from near-zero in March to the current 4.25%-4.50% range, to restrain inflation that climbed to 40-year highs. In December, Fed policymakers as a group signaled the policy rate will need to rise to at least 5.1%; financial markets, meanwhile, are pricing for the Fed to stop just short of 5%. But she did appear to ratify market expectations for the Fed's upcoming rate hike to be a quarter-of-a-percentage-point, a downshift from December's half-point rate hike and from the four 75-basis-point rate hikes that preceded. "Recent data suggests slightly better prospects that we could see continued disinflation in the context of moderate growth," Brainard said. Even as the Fed parses the progress it has made on inflation, she said it would "stay the course."

[1/3] Federal Reserve Vice Chair Lael Brainard speaks at the University of Chicago Booth School of Business, in Chicago, Illinois, U.S., January 19, 2023. In addition, she said the full impact of last year's aggressive Fed interest rate increases has yet to be felt. "It remains possible that a continued moderation in aggregate demand could facilitate continued easing in the labor market and reduction in inflation without a significant loss of employment," Brainard said. Even as the Fed parses the progress it has made on inflation, she said it would "stay the course." "Even with the recent moderation, inflation remains high, and policy will need to be sufficiently restrictive for some time to make sure inflation returns to 2 percent on a sustained basis," Brainard said.

☆ Need motivation for 2023? Here are three ideas from scientists and coaches on how to make it your best work year yet.
▼ + stars: | 2023-01-03 | by ( Rebecca Knight | Shana Lebowitz | ) www.businessinsider.com time to read: +5 min

Use the fresh slate of a new year as an excuse to rev your motivation. We scoured Insider's trove of content for the best tips, tricks, and strategies to rev up your motivation at work in 2023. Gabriele Oettingen, a psychology professor at New York University and the University of Hamburg, calls it "WOOPing." Fishbach, the author of "Get It Done: Surprising Lessons From the Science of Motivation," told Insider. Knapp and Zeratsky helped set up the design-sprint process at Google, so they know a thing or two about time management.

☆ Economist Austan Goolsbee named next Chicago Fed president
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: +3 min

Economist Austan Goolsbee will take over as president of the Chicago Federal Reserve early next year as the central bank weighs critical policy moves ahead, according to an announcement Thursday. "Austan is an exceptional choice to be the next president of the Federal Reserve Bank of Chicago. Goolsbee comes to the Chicago Fed at a sensitive time for the central bank. A Chicago Fed release announcing the appointment said the new district president is "a leading empirical economist" whose research spans a wide variety of topics. Goolsbee called the Chicago Fed "one of the crown jewels" of the central bank system.

☆ Factbox: U.S. midterm elections: The race for control of the Senate
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Cheney OrrWASHINGTON, Nov 8 (Reuters) - Americans cast ballots on Tuesday in midterm elections that will determine whether President Joe Biden's Democrats keep control of the U.S. Senate, as 35 of its 100 seats are up for grabs. ET (0011 GMT, Nov. 9)Edison Research provides exit polling and vote count data to the National Election Pool, a consortium consisting of ABC News, CBS News, CNN and NBC News. Reuters has an agreement with NEP/Edison to distribute exit polling and vote count data to clients. The Associated Press has a separate polling and vote count operation and makes its own projections. Fox News relies on data from the AP and the University of Chicago's NORC to inform its projections.

☆ Just 10% of voters under 40 'strongly approve' of Biden in new poll, inflation remains a top concern ahead of the midterm elections
▼ + stars: | 2022-11-01 | by ( Emma Kinery | ) www.cnbc.com time to read: +5 min

One quarter of all respondents under 40 strongly disapproved of Biden's performance. Twenty-six percent of respondents said they "approve somewhat" of Biden's performance and an additional 22% neither approve or disapprove. "There's overwhelming disagreement with the Supreme Court's decision to overturn Roe v. Wade and we find the Supreme Court is highly unpopular among young adults," Ramanathan said. "Inflation is the most salient issue among young adults — specifically inflation, rather than general economic concerns," Ramanathan said, noting that it's increased from previous surveys. "More young adults say inflation makes them more likely to support Republicans than Democrats, but the plurality, about a third, say it won't impact their vote."

☆ The newest Nobel-winning economist lays out 2 reasons the US is 'really exposed' to a financial crisis
▼ + stars: | 2022-10-16 | by ( Ben Winck | ) www.businessinsider.com time to read: +7 min

Two trends risk slamming the US financial system, Douglas Diamond, one of the latest Nobel-winning economists, told Insider. Years of near-zero interest rates leave firms "really exposed" to surging borrowing costs, he added. Yet the coronavirus crisis and the following inflation spell have thrown the financial system into a sea of uncertainty. "With that circumstance, when you actually raise interest rates in a hurry, you're going to be really exposed. Interest rate increases also make companies' debt much pricier to service, which in turn raises the risk of bankruptcy.

☆ Holiday bargains will dent retail profits. How investors can avoid taking a beating
▼ + stars: | 2022-10-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +11 min

Stifel's research found that consumers plan to spend 9% more this holiday season over 2021. Roughly three-quarters of respondents to a PwC holiday poll indicated they plan to spend the same or more this holiday season. Rather than marking down inventory, companies should hold on to it for the next year if their balance sheets can withstand it, said Siegel. Across the board, many flagship retail stores heavily focused on apparel and footwear like Kohl's and Macy's may struggle to lure customers intent on saving money on discretionary purchases. He points to names heavily focused on electronics and home goods purchased by consumers during the pandemic as one of the weaker areas this holiday season.

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