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“This is a basically a death penalty for a business,” said Columbia University law professor Eric Talley. Bank officials called to testify couldn’t say for sure if Trump’s personal statement of worth had any impact on the rates. His nonprofit Trump Foundation agreed to shut down in 2018 over allegations he misused funds for political and business interests. The Deutsche unit making the Trump business loans wasn’t the typical lending unit, but its private wealth division. A POTENTIAL COMPROMISETo be sure, the attorney general’s office has argued that there are larger issues than victim losses at play in Trump's case.

Persons: Donald Trump, “, ”, Eric Talley, it’s, Adam Leitman Bailey, William Thomas, Trump, that’s, Arthur Engoron, Engoron, Letitia James, Said, Kevin Wallace, ” Engoron, Jan, Gambino, Mar, Deutsche, ” Trump, Wallace, Jerry H, Goldfeder, University of Michigan’s Thomas, ” ___, Michael R, Jennifer Peltz, David Caruso, Rhonda Shafner Organizations: Associated Press, Columbia University, Deutsche Bank, Trump, Bank, University of Michigan, Republican, Democratic New, New York, LexisNexis, AP, Trump Foundation, Trump University, Deutsche, ”, Fordham University, University of Michigan’s Locations: Trump’s, New York, Democratic New York, York, Lago, Florida, Chicago, Miami , Los Angeles, Scotland, New, Manhattan, Sisak, Investigative@ap.org

☆ Thomson Reuters is exploring an AI deal as more tech giants court news publishers
▼ + stars: | 2024-01-15 | by ( Dan Whateley | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. The company's vast data sets could be particularly useful for companies like OpenAI, Microsoft, or Google that are building generative AI features. AdvertisementSome media companies, including Business Insider owner Axel Springer, have already signed licensing deals with AI providers. Apple is also in discussions with some news publishers to gain access to content to bolster its generative AI efforts, per a New York Times report.

Persons: —, Thomson, We've, Steve Hasker, Axel Springer, Axel Springer's, OpenAI Organizations: Service, Thomson Reuters, Bloomberg, Business, Reuters, Microsoft, Politico, New York Times

We are actually going to be looking at this in the very early days of generative AI. casey newtonYeah, this feels like one of the big questions in AI right now. rebecca tushnetSo I see why you say that’s strange, but in fact, it’s exactly how you would make a general-purpose tool. But now, finally, along come these new technologies to take them down a peg, and they’re actually going to have to work for a living. So maybe they’re slapping, like, AI sort of things around the stories that they’re aggregating.

Persons: kevin roose Casey, casey newton What’s, kevin roose, casey newton Dots, casey newton, they’re, kevin roose —, casey newton Dot, CASEY, Biden, Mr, kevin roose I’m Kevin Russo, ” casey newton, Casey Newton, Rebecca Tushnet, casey newton Kevin, I’d, Rachel, kevin roose Aw, Harry Potter, kevin roose Wow, SpongeBob, Chuck Schumer, let’s, it’s, Claude, kevin roose Totally, casey newton Yes, Yann LeCun, It’s, you’re, you’ve, Sam Altman, Dario Amodei, kevin roose I’ve, Arati Prabhakar, arati prabhakar, Ben Buchanan, ben buchanan, casey newton Well, Dodd, Frank, I’m, kevin roose Will, You’ve, kevin roose God, kevin roose Hey, Casey, we’ve, Sarah Anderson, who’s, Emad Mostaque, Anderson, weren’t, Kevin, — casey newton, ” rebecca tushnet, rebecca tushnet, that’s, there’s, casey newton Right, I’ve, “ Barbie, “ Barbie ”, Sarah Anderson’s, rebecca tushnet It’s, Barbie, casey newton I’m, Rebecca, Westlaw, we’re, Cory Doctorow, what’s, casey newton Um, Pattie, it’s minty, Patties, Let’s, casey newton No, it’ll, casey newton That’s, KEVIN, “ Joe Biden, ’, Bruce Reed, Joe Biden, ” ‘, Reed, Camp David, Biden’s, —, kevin roose Jack, Jack, ”, Lily James, kevin roose Oh, kevin roose Ugh, kevin roose Horrible, kevin roose “ Cruise, ” “ Cruise, They’re, haven’t, casey newton Close, kevin roose It’s, Guy, casey newton I’ve, Newton Organizations: Target, Opera, The New York Times, White, White House, casey newton People, Google, casey, Science, Technology, Defense Department, Biden White House, Communications, Department of Commerce, European Union, Harvard Law, Midjourney, Copyright, Stability, Harvard Law School, Associated Press, Adobe, Starbucks, Disney, YouTube, Stetson, Media, Biden, NVIDIA, Variety, Staff, Associated, Microsoft, Guardian, General Motors, Cruise, House Locations: Washington, Bikini, Valley, OpenAI, Anthropic, Silicon Valley, Europe, America, York, They’re, Camp, Sydney, United States, California, Austin , Texas, Phoenix, Dallas , Houston, Miami, San Francisco, Franciscans

The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Nov 1 (Reuters) - Thomson Reuters Corp (TRI.TO) on Wednesday reported higher-than-expected third-quarter profit as its biggest divisions serving legal, tax and accounting professionals performed well amid economic uncertainty. Organic revenues in the Legal Professionals segment increased 6%, while total revenue fell 2%, reflecting sales of some divisions. Thomson Reuters has earmarked $10 billion for acquisitions and about $100 million per year in investments in AI capabilities. In August, the company closed its $650 million cash acquisition of Casetext, a California-based AI company that helps legal professionals conduct research, analysis and prepare documents using generative AI.

Persons: Carlo Allegri, Thomson, Steve Hasker, ” Hasker, Hasker, Helen Coster, Nick Zieminski Organizations: Thomson Reuters, REUTERS, Thomson Reuters Corp, ”, Microsoft, Elite, TPG, Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, California

☆ Sidney Powell could finally be disbarred after pleading guilty, but she has a dark money org to fall back on
▼ + stars: | 2023-10-19 | by ( Jack Newsham | ) www.businessinsider.com time to read: +5 min

Trump lawyer Sidney Powell has been subject to sanctions and an ongoing disbarment effort. A Texas legal ethics practitioner said this kind of case should lead to "automatic disbarment." Powell flipped on Donald Trump and pleaded guilty to six misdemeanor counts related to the 2020 election in Georgia on Friday morning. Bob Bennett, a Texas lawyer with experience defending other attorneys in disciplinary cases, believes she should finally be disbarred. Financial statements for the group say the only related-party transaction is paying an LLC owned by Powell $120,000 for rent.

Persons: Trump, Sidney Powell, —, Sidney Powell's, Powell, Donald Trump, Fani Willis, Rudy Giuliani, Bob Bennett, Biden, Renee Knake Jefferson, Sidney, Bennett, Claire Reynolds, disbar Powell, DTR, it's Organizations: Service, Biden's, Trump, University of Houston Law, US, Office, Western, Western District of, Texas Office, Voting Systems, Washington Post Locations: Texas, Republic, Georgia, Fulton County, Michigan, Wisconsin, Western District, Western District of Texas, Florida

Circuit Judge Stephanos Bibas sets the stage for what could be one of the first trials related to the unauthorized use of data to train AI systems. "This case continues to be about Ross’ theft of Thomson Reuters proprietary commentary, analysis, and organizational system," the spokesperson said. Thomson Reuters' 2020 lawsuit accused legal research company Ross Intelligence of copying Westlaw's "headnotes," which summarize points of law in court opinions. Thomson Reuters accused Ross of misusing thousands of the headnotes to train its AI-based legal search engine. Bibas also said he could not decide whether a ruling for Ross or Thomson Reuters would best serve the public interest.

Persons: Andrew Kelly, Stephanos Bibas, Ross ’, Ross, Thomson, Bibas, Blake Brittain, David Bario, Lisa Shumaker Organizations: Thomson Reuters, REUTERS, Ross Intelligence, U.S, Circuit, Tech, Meta, Microsoft, Reuters, Thomson Locations: Square , New York, U.S, Delaware, Washington

☆ Relx, the owner of LexisNexis, tries to keep the AI bots from plundering its valuable legal data
▼ + stars: | 2023-08-10 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

The generative AI boom has sparked a race to collect data for model training. Relx, the owner of LexisNexis, recently warned customers about sharing its legal data with AI bots. I reached out to Relx and a LexisNexis spokespeople to ask whether LexisNexis has seen its legal data being scraped by bots or otherwise collected by outside companies for use in AI model training. Another AI legal startup called Casetext was recently acquired for $650 million by Thomson Reuters, the owner of Westlaw, an established legal data service that competes with LexisNexis. This offering uses AI models trained on the company's exclusive legal content, according to LexisNexis.

Persons: That's, Sean Fitzpatrick, Julie Chapman, LexisNexis spokespeople, Relx Organizations: LexisNexis, Elsevier, Ireland, Thomson Reuters Locations: North America, Sequoia

☆ Thomson Reuters' profit beats estimates; outlook steady
▼ + stars: | 2023-08-02 | by ( Helen Coster | ) www.reuters.com time to read: +4 min

The Thomson Reuters logo is pictured on a building in the Manhattan borough of New York City, New York, U.S. November 16, 2021. The news and information company reported adjusted earnings of 84 cents per share, 6 cents ahead of estimates. Total revenue rose 2% in the quarter to $1.65 billion, slightly missing expectations, according to Refinitiv. Thomson Reuters maintained its full-year 2023 outlook for organic revenue, adjusted EBITDA margin and free cash flow. Reporting by Helen Coster Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, divestitures, Steve Hasker, Thomson, –, Michael Eastwood, Hasker, Eastwood, Helen Coster, Nick Zieminski Organizations: Thomson Reuters, REUTERS, Thomson Reuters Corp, Accounting, company’s Elite, TPG, London Stock Exchange, Reuters News, Thomson Locations: Manhattan, New York City , New York, U.S, Britain, California

☆ Judge sanctions lawyers for brief written by A.I. with fake citations
▼ + stars: | 2023-06-22 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Steven Schwartz, who used ChatGPT to write a legal brief, is pictured outside federal court in Manhattan on Thursday, June 8, 2023, in New York. A New York federal judge on Thursday sanctioned lawyers who submitted a legal brief written by the artificial intelligence tool ChatGPT, which included citations of non-existent court opinions and fake quotes. But Castel said the lawyers exhibited "bad faith" by making false and misleading statements about the brief and its contents after Avianca's lawyers raised concerns that the legal citations in the brief were from court cases did not exist. "In researching and drafting court submissions, good lawyers appropriately obtain assistance from junior lawyers, law students, contract lawyers, legal encyclopedias and databases such as Westlaw and LexisNexis," Castel wrote in his order. "Technological advances are commonplace and there is nothing inherently improper about using a reliable artificial intelligence tool for assistance," Castel wrote.

Persons: Steven Schwartz, Judge P, Kevin Castel, Peter LoDuca, Castel, Schwartz, Levidow, Roberto Mata, Mata's Organizations: New, Montreal Convention, LexisNexis Locations: Manhattan, New York, U.S, El Salvador, Montreal

☆ Lawyer apologizes for fake court citations from ChatGPT
▼ + stars: | 2023-05-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —The meteoric rise of ChatGPT is shaking up multiple industries – including law, as one attorney recently found out. Steven Schwartz, an attorney with Levidow, Levidow & Oberman and licensed in New York for over three decades, handled Mata’s representation. Schwart’s affidavit Wednesday contained screenshots of the attorney appearing to confirm the authenticity of the case with ChatGPT. “is varghese a real case,” Schwartz asked the chatbot. 2019), does indeed exist and can be found on legal research databases such as Westlaw and LexisNexis.

☆ Exclusive: Buzzy legal generative AI startup Casetext is in talks to be acquired
▼ + stars: | 2023-05-25 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

AI startup Casetext is in talks to be acquired, Insider has learned. This hypothesis may have found its first example in Casetext, a buzzy legal generative AI startup that is in talks to be acquired, according to people familiar with the situation. Casetext has raised $68 million in funding from VCs including Union Square Ventures, Canvas Ventures, Y Combinator, and Touchdown Ventures. Now, the technology powers Casetext's AI legal assistant CoCounsel, which aids lawyers with everything from legal research memo drafting to deposition preparation to document review. Have a tip on a startup funding round?

[1/2] The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. Total revenue rose 4% in the quarter to $1.738 billion, beating expectations, according to estimates from Refinitiv. Thomson Reuters plans to spend $100 million on an annual run rate basis to invest in artificial intelligence, Hasker said. AI features will be incorporated in most major business divisions -- legal, tax and accounting, and in the news business. As of April 30, it owned 47.4 million shares of LSEG, worth $5 billion.

[1/2] The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly/File PhotoMay 2 (Reuters) - Thomson Reuters Corp (TRI.TO), on Tuesday reported higher sales and operating profit in the first quarter, helped by divestitures and high customer retention rates. As of April 30, Thomson Reuters owned 47.4 million shares of LSEG, worth $5 billion. Thomson Reuters shares are trading at an all-time high. Reporting by Helen Coster and Kenneth Li in New York, Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ Thomson Reuters reports higher fourth-quarter sales, profit
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

The news and information company reported adjusted earnings of 73 cents per share. A strong dollar took 2 percentage points off the sales growth. Divestitures reduced sales growth by another 1 point. It expects first-quarter organic sales growth at the lower end of its full-year target of 5.5-6.0%. During the fourth quarter, Thomson Reuters said it would buy SurePrep LLC, a U.S.-based provider of tax automation software and services, for $500 million in cash.

Adjusted earnings per share came in at 57 cents, 7 cents ahead of estimates. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones, and Wolters Kluwer (WLSNc.AS). Thomson Reuters holds a minority stake in the LSE, worth about $6.3 billion as of Friday. Thomson Reuters will be "quite a bit more aggressive in the next few quarters in looking at acquisitions," he said. Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The Toronto-based company recorded $1.57 billion in sales during the quarter, up 3%, slightly below expectations of $1.59 billion. Adjusted earnings per share came in at 57 cents, 7 cents ahead of analyst estimates. But it noted that 2023 margins were trending towards the lower end of the 39%-40% range amid heightened inflation and investments. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones and Wolters Kluwer (WLSNc.AS). Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ As Big Law looks to tech to help draft legal briefs and log billing hours, top firms like Orrick and Shearman & Sterling are using AI to fast-track work on M&A deals
▼ + stars: | 2022-10-20 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +6 min

Top Big Law firms like Shearman & Sterling, White & Case, and Orrick use artificial intelligence. AI tools by companies like Thomson Reuters, Litera, and Evisort are helping firms manage M&A work. Shearman & Sterling uses a wide variety of AI tools for different uses — one of the firm's go-tos for deals due diligence is Kira, a tool owned by Litera, a document-technology company that works with law firms. Even more said that over the next five years, they expected most M&A work at their firms to be supported by AI. The company uses tools such as Brainspace and Relativity, Janet Sullivan, the firm's global director of practice technology, said.

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