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Like other governments across the Middle East, Egypt has not been shy about its position on the Israeli-Palestinian conflict. Its denunciations of Israel over the war in Gaza are loud and constant. State media outlets broadcast images of long lines of aid trucks waiting to cross from Egypt into Gaza, spotlighting Egypt’s role as the sole conduit for most of the limited aid entering the besieged territory. Yet at those, too, it detained dozens of people after protesters chanted slogans critical of the government. Now the Gaza war — and what many Arabs see as their own governments’ complicity — has driven an old wedge between rulers and the ruled with new force.

Persons: spotlighting, — Organizations: Hamas Locations: East, Egypt, Israel, Gaza, State, Cairo, United States

☆ Kasa Living, which partners with KKR and TPG, wants to become the Amazon of hospitality. See the 33-page slideshow it used to raise $70 million
▼ + stars: | 2024-04-26 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Kasa Living has made a habit of raising funds at some of the hardest times for the hospitality and proptech industries. Kasa Living CEO and founder Roman Pedan points to the shares of Marriott and Hilton, which are up over the last five years, as an indication of what Kasa could be. Kasa Living is now working with some investment firms to help locate and buy buildings that Kasa Living will operate, a model known as OpCo/PropCo. Instead of having to hire someone to handle bookings and finances for each property, Kasa Living handles it all centrally, "removing that fixed cost." Some financial information has been redacted from the deck by Kasa Living.

Persons: Roman Pedan, Kasa, Pedan, Pendan Organizations: Marriott, Hilton, KKR, Sonder, TPG, Amazon Web, Citi Ventures, FirstMark, New York Life Ventures, Fireside Investments, RET, Zigg, Ribbit, EBay, Kasa Locations: Brookfield

☆ Two strangers swooped in to save a couple’s wedding day
▼ + stars: | 2024-04-19 | by ( Aj Willingham | ) edition.cnn.com time to read: +5 min

Ezequiel Marcellini BodasOh, and there were tears. Then, the officiant asked for their wedding rings to seal the deal. Once they realized what was wrong, the Argentinian couple offered their own wedding rings without a second thought. Photographer Ezequiel Marcellini captured images of the unexpected wedding encounter. The two couples exchanged “thank yous” and “congratulations,” and posed for a few pictures that will undoubtedly have a special place in the Jackson’s wedding album.

Persons: Shannon Jackson, ” Calivé Jackson, “, vivre, —, “ Shannon, ” Jackson, Shannon, Calivé Jackson, Ezequiel Marcellini Bodas, Ezequiel Marcellini, “ We’ve, yous ”, ” Organizations: CNN, Jacksons Locations: Playa Del Carmen, Trinidad and Tobago, Mexico

☆ There is no loneliness epidemic
▼ + stars: | 2024-04-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +17 min

With the report, a steady trickle of headlines about the epidemic turned into a firehose: "Loneliness is at epidemic levels and it's killing Americans" (USA Today); "This Epidemic of Isolation Is as Harmful as Smoking" (Bloomberg); "America's Loneliness Epidemic Comes for the Restaurant" (The Atlantic). There's one problem: The loneliness epidemic doesn't exist. Even the authors caution in their meta-analysis that "the frequently used term 'loneliness epidemic' seems exaggerated." Calling it a "loneliness epidemic," then, may be a bit like calling COVID a "sneezing pandemic." "There are many, many surveys that are just making up questions about loneliness and are not using the UCLA Loneliness Scale or some other validated loneliness scale," she says.

Persons: Vivek Murthy, Murthy, Hillary Clinton, Donald Trump, Sen, Chris Murphy, Ruth, University of Michigan —, Eric Klinenberg, Julianne Holt, it's, Dave Sbarra, Holt, David Riesman, Lunstad, I've, —, Sbarra, Klinenberg, Adam Mastroianni, " Mastroianni, Mastroianni, Biden, isn't, Jill Lepore, voicemails, There's, Jerome Adams Organizations: Bloomberg, Business, York, Gallup, University of Michigan, New York University, Brigham Young University, University of Arizona, Bell, University of California Los, Commerce, UCLA, Republican, Democratic Locations: Connecticut, Brooklyn, University of California Los Angeles, America, Washington, DC, COVID

☆ Meet the billionaire 'king of subprime car loans' whose company underwrote Trump's $175 million civil fraud bond
▼ + stars: | 2024-04-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Billionaire Don Hankey's company underwrote a $175 million appeal bond for Donald Trump. The 80-year-old oversees Hankey Group, which employs over 3,400 people and whose assets are worth around $22.5 billion, per Forbes. Axos Bank CEO Greg Garrabrants has previously donated around $50,000 to Republican campaigns since 2012, with $9,600 in support of Trump, according to Federal elections records. Related storiesHankey's net worth is estimated at $7.4 billion, according to Forbes — and it's nearly doubled within the last three years. The mansion ended up auctioning for less than half of its expected $500 million worth.

Persons: Don Hankey's, Donald Trump, Hankey, —, Don Hankey swooped, It's, that's, Trump, refinanced, Greg Garrabrants, Forbes —, Ford, Westlake, Niami, David Sucsy, Niami's, Allen J, Schaben, Getty Hankey, Debbie Hankey Organizations: Bel, Service, Hankey Group, Forbes, Hankey's, Specialty Insurance, Bloomberg, Axos Bank, Axos, Trump, Westlake Financial Services, Hankey Investment, Bel Air, Los Angeles Business Journal, University of Southern Locations: Southern California, Bel Air Los, Bel, University of Southern California, Malibu

From 1985 to 2002, he worked at Goldman Sachs, one of the most storied — and criticized — investment banks on Wall Street. He famously swooped in to turn around the struggling IndyMac bank after its failure in the financial crisis of 2008. Earlier this month, Mnuchin jumped back into the headlines when his PE firm led a roughly $1 billion investment in embattled New York Community Bancorp. In 2009, OneWest Bank Group, where Mnuchin was chairman and CEO, bought the troubled IndyMac after federal regulators took over the bank. Mnuchin was Treasury secretary in 2020, when the Trump administration brokered a deal where Oracle and Walmart would take a large stake in TikTok.

Persons: Steven Mnuchin, Donald Trump’s, Goldman Sachs, Mnuchin, Max, Mnuchin's dealmaking, Robert Weissman, ” Weissman, Robert Rubin, Clinton, Weissman, couldn’t, NYCB, George Soros, John Paulson, OneWest, Kevin Kaiser, “, ” Kaiser, Maxine Waters, ”, Trump, doesn't, Chris Caulfield, ” Caulfield, ” ___ Rugaber Organizations: Trump, Public Citizen, Treasury, Treasury Department, Liberty Strategic Capital, Citizens, New York Community Bancorp, OneWest Bank Group, Federal, of Insurance Corp, FDIC, Wharton School, Oracle, Walmart, CNBC Locations: Wall, TikTok, Saudi Arabia, East, Washington, Congress, U.S, China, West Monroe, “

☆ Explainer-How the West Might Use Russia's Frozen Reserves
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

Here are some of the ideas that have been suggested:CONFISCATIONSome international policymakers and lawyers say the immobilised Russian reserves can simply be confiscated under a doctrine of international law known as "countermeasures". Some in the bloc are still wary, though, and the European Central Bank has warned that claiming the trapped Russian assets should only be done in tandem with G7 powers. The bondholders would not have a contractual claim on the Kremlin’s frozen reserves. Ukraine would have a plausible way to collect on any damages awarded up to the value of the reserves. If Moscow refused to pay the damages, the allies could then use Russia’s frozen assets to pay off the loan.

Persons: Marc Jones, Lee Buchheit, Daleep Singh, Mark Heinrich Organizations: Marc Jones LONDON, Emergency Economic, U.S, European Central Bank Locations: Ukraine, Russia, Kuwait, United States, EU, Russian, Brussels, Belgium, U.S, Britain, China, Hong Kong, Dubai, Moscow

JetBlue Airways and Spirit Airlines on Monday said they are ending their agreement to merge, weeks after losing a federal antitrust lawsuit that challenged the deal. A federal judge in January blocked JetBlue's attempted takeover of budget carrier Spirit after the Justice Department sued to bar the deal last year. The Justice Department alleged the acquisition would stifle competition in the airline industry and eliminate Spirit as a discount alternative for price-conscious travelers. JetBlue and Spirit appealed the judge's decision a couple of days later, but JetBlue noted the appeal was required under the terms of the merger agreement. Spirit shares tumbled 17% in premarket trading, while shares of JetBlue were up roughly 4%.

Persons: JetBlue's, Joanna Geraghty, Department of Justice's Organizations: JetBlue Airways, Fort, Hollywood International Airport, Spirit Airlines, Justice Department, JetBlue, Spirit, Analysts, Frontier, Department of Locations: Fort Lauderdale, Fort Lauderdale , Florida

☆ China’s coast guard has triggered ‘panic’ in Taiwan. That’s only part of Beijing’s plan
▼ + stars: | 2024-02-21 | by ( Nectar Gan | Wayne Chang | ) edition.cnn.com time to read: +7 min

“It’s super scary,” a passenger told Taiwan’s United Daily News in a video upon returning to shore under the escort of a Taiwanese coast guard ship on Monday. “(The Chinese coast guard) chose a tourist vessel because it’s high profile – you would expect lots of people on the boat with cameras and phones,” he said. The stakes are high, as the increased presence and closer proximity of Chinese and Taiwanese coast guard vessels raise the specter of miscalculations that could potentially spiral into open conflict. Speaking to reporters about the inspection by the Chinese coast guard, Taiwan’s Defense Minister Chiu Kuo-kcheng highlighted such risks, saying the defense ministry is “very concerned” about potential miscalculations. Taiwan's coast guard inspects a vessel that capsized during a chase off the coast of Kinmen on February 14, 2024.

Persons: King Xia, ” Kuan, Taiwan’s, Ian Chong, Chong, ”, “ They’re, Chiu Kuo, Lai Ching, China’s, Nancy Pelosi’s, Tian Feilong, It’s, Tian, “, Lai Organizations: Taipei CNN, Taiwan’s United Daily News, Taiwan’s Ocean Affairs Council, Democratic Progressive Party, National University of Singapore, South China, Taiwan’s, Taiwan Coast Guard Administration Locations: Hong Kong, Taipei, Taiwanese, Kinmen, China’s, Beijing, Taiwan, Xiamen, China, East, South, Taiwan's, Nauru, Taiwan Strait

BOSTON (AP) — Brandt Clarke scored on a breakaway with 27 seconds left in overtime for his first career goal and the Los Angeles Kings rallied to beat the slumping Boston Bruins 5-4 on Saturday. Photos You Should See View All 33 ImagesJames van Riemsdyk scored twice and added an assist for the Bruins, and Ullmark finished with 30 saves. Van Riemsdyk scored first-period goals on rebounds and Richard scored 13:04 in the second to put Boston up 3-1. Van Riemsdyk had an assist for his third point of the game. It was the second two-goal game for van Riemsdyk since he signed with the Bruins as a free agent last summer.

Persons: — Brandt Clarke, Clarke, David Pastrnak, Linus Ullmark, David Rittich, Anze Kopitar, Matt Roy, Vladislav Gavrikov, Alex Laferriere, Jim Hiller, Angeles, Todd McLellan, Pierre, Luc Dubois, James van Riemsdyk, Ullmark, Trent Frederic, Anthony Richard, Pastrnak, Van Riemsdyk, Richard, Gavrikov, Kevin Shattenkirk, Frederic swooped, Rittich, Morgan Geekie, van Riemsdyk, Andreas Englund, Trevor Lewis, Jake DeBrusk, Mikey Anderson, ___ Organizations: BOSTON, Los Angeles Kings, Boston Bruins, Boston, Kings, NHL, Bruins, Harvard, Nashville, Pittsburgh, Dallas Stars Locations: Boston

☆ Trump heads to Michigan with eyes on a Biden rematch but legal woes loom over campaign
▼ + stars: | 2024-02-17 | by ( Steve Contorno | Kristen Holmes | ) edition.cnn.com time to read: +8 min

A 2020 election denier’s tumultuous reign atop the Michigan Republican Party had only recently begun. Since then, the strike has ended and the top union representing Michigan autoworkers, United Auto Workers, has endorsed President Joe Biden. State party turmoilAhead of his visit, Trump and his allies sought to put an end to turmoil within the Michigan Republican Party, which has faced a reckoning over its readiness for the 2024 election. The state party ousted its chair, Kristina Karamo, last month in the face of internal strife and lackluster fundraising. The recent Fox News survey from Michigan found Biden leading Trump 53% to 41% among union households.

Persons: Donald Trump, Trump, Joe Biden, Nikki Haley –, Stormy Daniels, Friday’s, “, Biden, Hillary Clinton’s, Haley, Kristina Karamo, Pete Hoekstra, Hoekstra, Democratic Sen, Debbie Stabenow, ”, Jason Cabel Roe, it’s, – Trump, Trump’s, Shawn Fain, ” Trump, Fain, ” Fain, Cabel Roe, “ There’s Organizations: CNN, Michigan, Republican, GOP, Michigan Republican Party, Michigan autoworkers, United Auto Workers, Republicans, South Carolina Gov, Michigan GOP, Trump, Fox, Sneaker Con, South Carolina Army National Guard, Republican National, White House, Democratic, doesn’t, Republican Party, Biden, Big, Teamsters, UAW Locations: California, Michigan, New, York, ”, Georgia, Waterford Township, Detroit, Waterford, Trump’s Michigan, –, Philadelphia, South Carolina, State, Netherlands, Washington ,, Wisconsin, Pennsylvania

KANSAS CITY, Mo. (AP) — “Are you feeling good today, Chiefs Kingdom?” Kansas City Mayor Quinton Lucas shouted to a sea of football fans fresh from their town’s third Super Bowl victory in five years. At its highest moment of community pride, Kansas City experienced one of 21st-century American culture’s most traumatic events — a public mass shooting. “How," she asked, “can something go from this happy to this?”Everyone seemed to know someone who was there; that's the kind of town Kansas City is. “This is not Kansas City,” said Graves, who had stationed around 600 of her officers along the route in addition to 200 more from other agencies.

Persons: Quinton Lucas, Taylor Swift, Travis Kelce, breathlessly, Chiefs ’, Clark Hunt, “, Mike Parson, you’re, hadn't, Patrick Mahomes, Kelce, Garth Brooks, ” Kelce, ”, Gene Hamilton, couldn't, Hana Lee, ” Sarah Fox, texted, Stacey Graves, Graves, “ I’m, Lisa Lopez, Galvan, Michelle Hubbard, Andy Reid, Hubbard, Ashley Coderre, Coderre, Allie Tipton, Louis, Tipton Organizations: KANSAS CITY, Chiefs, Kansas City, Police, San Francisco 49ers, Schools, Low, Shawnee Mission, Super Locations: KANSAS, Mo, Kansas, Kansas City, Melbourne, Australia, ”, Missouri, Kansas City , Missouri, Wichita , Kansas, Prairie Village, “, Shawnee, Overland Park , Kansas, St, Tipton

☆ Olivia Culpo bought Christian McCaffrey's mom a Super Bowl suite because she couldn't afford it herself. Here's how much it might have cost.
▼ + stars: | 2024-02-03 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

San Francisco 49ers running back Christian McCaffrey's mother said his family couldn't afford a Super Bowl suite. A Super Bowl suite costs between $1,400,000 and $2,500,000 on average. AdvertisementSuper Bowl suites are so pricey that even the families of NFL players are struggling to afford them. So, how much does a Super Bowl suite cost? According to Suite Experience Group, which sells suites for the Super Bowl, suites cost between $1,400,000 and $2,500,000 on average.

Persons: Christian McCaffrey's, fianceé, Olivia Culpo, —, Lisa McCaffrey, Christian McCaffrey, Lisa, That's, Christian, Olivia Culpo —, Business Insider's Cork Gaines, Stefanie Keenan, Taylor, Olivia Culpo's Instagram, Culpo, Usher, Taylor Swift, Travis Kelce Organizations: San Francisco 49ers, Service, NFL, Allegiant, Kansas City Chiefs, Super, Miss Universe, Business, Bowl LIV, Roc Nation Locations: Vegas

☆ New York Community Bancorp, Winner in Last Year’s Crisis, Takes a Hit
▼ + stars: | 2024-01-31 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

Less than a year ago, New York Community Bancorp looked like one of the big beneficiaries of a crisis among its peers when it swooped in to take over most of the assets of ailing Signature Bank and catapulted to over $100 billion in assets. Its stock plummeted 38 percent to a 25-year low, dragging down shares of other regional banks 6 percent on average. New York Community Bancorp tried to put a brave face on the news — an accompanying release included the headline “Record Results for 2023,” true inasmuch as the bank is now much larger than before the Signature acquisition — but analysts and investors quickly zeroed in the weaknesses. It was an uneasy reminder of last March’s tumult, when problems at Silicon Valley Bank spilled over into the industry, felling among others Signature, a bank known for its real estate, legal and cryptocurrency lending. New York Community Bancorp bought much of Signature out of federal receivership.

Organizations: New York Community Bancorp, Signature Bank, Bank Locations: Silicon

☆ Danaher shares hit a 1-year high after earnings and we're increasing our price target
▼ + stars: | 2024-01-30 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

DHR 1Y mountain Danaher 1 year Shares of Danaher rose as much as 5% to a 52-week high of $245.40 each. Core sales, not shown on the table, were down 22.5%. Core sales were down 4% year over year as strength from academic and life science research customers was more than offset by weakness from pharma and biopharma customers. Core sales fell about the same as strength in clinical diagnostics, driven by Beckman Coulter Diagnostics was more than offset by lower respiratory revenue at Cepheid. In this photo illustration, Danaher Corporation logo is seen displayed on a smartphone and PC screen.

Persons: we've, Danaher, Beckman Coulter, Jim Cramer's, Jim Cramer, Jim, Pavlo Gonchar Organizations: Revenue, LSEG, JPMorgan Healthcare, Sciences, Diagnostics, Biotechnology, Management, pharma, Beckman Coulter Diagnostics, CNBC, Getty Locations: Danaher, China, Biotechnology, North America, Europe, Asia, Pacific, Cepheid

☆ Opinion | The Ogre Gorging on America
▼ + stars: | 2024-01-27 | by ( Maureen Dowd | ) www.nytimes.com time to read: 1 min

If you can imagine the lobby bar of the Manchester Marriott as an Anglo-Saxon mead hall, I can explain how it felt to cover the New Hampshire primary. I will need the help of the late Seamus Heaney, who described what it was like to be quaffing in Heorot Hall while Grendel lurked and swooped through the frost-stiffened north. In his lyrical translation of “Beowulf,” Heaney described Grendel as “the terror-monger,” the “captain of evil” and “the dread of the land.”He wrote that the fiend “ruled in defiance of right” and was “malignant by nature, he never showed remorse.”

Persons: Seamus Heaney, Grendel lurked, ” Heaney, Grendel, ” Organizations: Manchester Marriott Locations: Hampshire, Heorot

There’s an old saying about the news business: If you want to make a small fortune, start with a large one. As the prospects for news publishers waned in the past decade, billionaires swooped in to buy some of the country’s most fabled brands. Jeff Bezos, the founder of Amazon, bought The Washington Post in 2013 for about $250 million. Dr. Patrick Soon-Shiong, a biotechnology and start-up billionaire, purchased The Los Angeles Times in 2018 for $500 million. Marc Benioff, the founder of the software giant Salesforce, purchased Time magazine with his wife, Lynne, for $190 million in 2018.

Persons: Jeff Bezos, Patrick Soon, Marc Benioff, Lynne Organizations: Amazon, Washington Post, Los Angeles Times

☆ Ad industry veteran John Nardone and PE firm GTCR are hunting for acquisitions to build the next big adtech rollup
▼ + stars: | 2024-01-12 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

A little over two years after selling adtech company Flashtalking to Mediaocean for $500 million , John Nardone is on the hunt for his next big adtech exit, he confirmed to Business Insider. Private equity firm GTCR is poised to be the financial sponsor on such a deal. Nardone intends to become CEO of the roll-up company and expects to bring on his own management team. Days before the agreement closed, "Vista swooped in and stole the deal," Nardone said. Before Flashtalking, Nardone sold the adtech company [x+1] to fellow adtech firm Rocket Fuel for around $230 million , and he helped take the digital marketing and research company Modem Media public.

Persons: John Nardone, Mediaocean, GTCR, Nardone, Innovid, — Innovid, Stephen Master, GTCR's Organizations: Business, Vista Equity Partners, Media Locations: Mediaocean, —

☆ Heroes to zeroes in 12 months: How the two biggest crypto billionaire CEOs proved the critics right
▼ + stars: | 2023-12-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. Meanwhile, Solana is nearly 10x higher in the last 12 months, and bitcoin miner Marathon Digital has also skyrocketed. That same year, Bankman-Fried earned street cred in crypto circles for his bitcoin arbitrage trading strategy, dubbed the Kimchi swap. The relationship between Zhao and Bankman-Fried began to sour a few months after they met. In Nov. 2022, a fight between Bankman-Fried and CZ on Twitter, now known as X, pulled the mask off the scheme.

Persons: Sam Bankman, Zhao Changpeng, Bitcoin, Solana, Binance's, Zhao, FTX's Sam Bankman, Fried, JPMorgan Chase, Jamie Dimon, bitcoin, Bill Gates, Warren Buffett, Elizabeth Warren, execs, Renato Mariotti, Michael Lewis, Sam, gunning, Lewis, SBF, Binance, FTX, Goldman Sachs, General Merrick Garland, Garland, Amr Alfiky Organizations: Marathon, JPMorgan, Microsoft, Capitol, Department of Justice, U.S . Justice Department's Securities, Commodities, CZ, Alameda Research, Formula, Democratic, Twitter, Emergency Economic, U.S ., Futures Trading Commission, Treasury Department, Securities, Exchange Commission, Justice Department, DOJ, Reuters Locations: Hong Kong, Singapore, Bankman, FTX, Miami, Washington, Alameda, U.S, New York City

☆ Texas AG Ken Paxton is using his power to tell Texas courts to halt an abortion for a pregnant woman diagnosed with a fetal anomaly
▼ + stars: | 2023-12-09 | by ( Katie Balevic | ) www.businessinsider.com time to read: +5 min

He appealed the court order, which has been stayed, throwing Kate Cox's abortion in flux. Hours later, Paxton swooped in with an appeal to the Texas Supreme Court and an ominous threat to prosecute any doctor that provides an abortion to Cox. On Friday, the Texas Supreme Court put a temporary hold on the Travis County judge's order, preventing Cox's doctors from proceeding with the abortion. The Texas Supreme Court has yet to issue a ruling on the case. The Center for Reproductive Rights, which is representing Cox, released a statement saying they hope the Texas Supreme Court ultimately rules in Cox's favor.

Persons: Ken Paxton, Kate Cox's, —, Kate Cox, Cox, Paxton swooped, Kate, Molly Duane, Paxton, Debbie McNabb, McNabb, — hysterectomies Organizations: Service, Texas, Texas Supreme, Reproductive Rights, Center for Reproductive Rights, National Institute of Health, for Reproductive, NIH Locations: Texas, Travis

☆ EU watchdogs muck up Amazon’s messy iRobot cleanup
▼ + stars: | 2023-11-28 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

The concerns speak to ongoing worries over Amazon’s market clout – but if the deal collapses, it’s iRobot shareholders who will suffer more downward suction. The Commission, which is reviewing the deal alongside British and American merger cops, on Monday published its objections. If Amazon is thwarted, investors expect iRobot shares to fall to between $5 and $15. CONTEXT NEWSThe European Commission on Nov. 27 issued a statement of objections regarding Amazon.com’s proposed $1.4 billion acquisition of robot vacuum maker iRobot. iRobot shares fell more than 18% to close at $34.35 on Nov. 27.

Persons: Andrew Kelly, it’s, Carlyle, Amazon.com’s, Peter Thal Larsen, Aditya Sriwatsav Organizations: REUTERS, Reuters, iRobot, European Commission, British, EU, Amazon, Investors, Commission, Thomson Locations: Staten Island , New York City, U.S, American, Europe, United States, Seattle, iRobot

☆ Emmett Shear, who ran OpenAI for 72 hours before Sam Altman's return was confirmed, says he's 'deeply pleased' about the news
▼ + stars: | 2023-11-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Emmett Shear was CEO of OpenAI for 72 hours before Sam Altman's return was announced. Bloomberg reported that Shear had participated in talks between the OpenAI board and Altman. On Wednesday, Shear said he was "deeply pleased" with Altman's return. The company announced Altman's return in a Wednesday post on X, less than a week after its board ousted him. Shear indicated that those discussions led to Altman's return.

Persons: Emmett Shear, Sam Altman's, Shear, Altman, —, Sam Altman, Altman's, OpenAI, He'd, Satya Nadella, hadn't, he'd, Bret Taylor, Taylor, Larry Summers, Adam D'Angelo Organizations: Bloomberg, Service, Microsoft Locations: OpenAI, Twitch

☆ The Strange $55 Million Saga of a Netflix Series You’ll Never See
▼ + stars: | 2023-11-22 | by ( John Carreyrou | More About John Carreyrou | ) www.nytimes.com time to read: +1 min

He had directed only one movie, “47 Ronin.” It was a commercial and critical dud, and Mr. Rinsch’s tussles with its producers had raised eyebrows, even in an industry where such conflicts are the norm. Amid the feeding frenzy, the project that Mr. Rinsch was pitching — a science-fiction series about artificial humans — became a hot property. After a competitive auction, Mr. Rinsch and his representatives reached an informal eight-figure agreement with Amazon. The project with Mr. Rinsch has turned into a costly fiasco, a microcosm of the era of profligate spending that Hollywood studios now are scrambling to end. Netflix burned more than $55 million on Mr. Rinsch’s show and gave him near-total budgetary and creative latitude but never received a single finished episode.

Persons: Carl Erik Rinsch, Rinsch’s, Rinsch, Cindy Holland Organizations: Disney, Apple, Amazon, Netflix, Hollywood Locations: Hollywood

☆ ChatGPT's father Sam Altman was ousted by OpenAI's board then took a top job at Microsoft over the weekend. Here's how investors, analysts, and insiders reacted to the drama.
▼ + stars: | 2023-11-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Sam Altman was ousted from OpenAI then accepted a top job at Microsoft over the weekend. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOver the course of a whirlwind weekend, OpenAI cofounder Sam Altman was ousted from ChatGPT's parent company and promptly accepted a job running a new AI research team at Microsoft. [Microsoft CEO Satya] Nadella says they're still committed to OpenAI. (Ware predicted brain drain as other OpenAI employees follow Altman to Microsoft or join other rivals now he's no longer in charge.)

Persons: Sam Altman, OpenAI, —, Microsoft didn't, Dan Ives, Altman, — that's, Jason Ware, They've, Satya, Nadella, they're, They're, Ware, Ben Laidler, Emmett, Joshua Mahony, Jim, Fan, Satya swoops, I'm, Jason Calacanis, It's Organizations: Microsoft, Wall Street, Service, Nasdaq, Albion Financial, CNBC, Markets, Nvidia Locations: OpenAI

☆ After a year in FTX’s shadow, the crypto industry is deligting in Bankman-Fried’s conviction
▼ + stars: | 2023-11-04 | by ( Manav Tanneeru | Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —It took just under a year for Sam Bankman-Fried to go from crypto wunderkind to convicted felon. When Bankman-Fried’s crypto empire collapsed last November, it sent the fledgling industry back years. For the crypto faithful who are still standing and striving, the trial couldn’t be over soon enough. “A lot of folks in the crypto industry are delighted,” said Yesha Yadav, a law professor and associate dean at Vanderbilt University. “There’s definitely an element of ‘ding-dong the witch is dead,’” said Eric Soufer, a political adviser to major crypto companies, referring to Bankman-Fried’s conviction.

Persons: Sam Bankman, Fried, ”, Bobby Zagotta, “ SBF, Yesha Yadav, “, FTX, they’ll, Bernie Madoff, Elizabeth Holmes, Gary Gensler, “ There’s, ’ ”, Eric Soufer Organizations: New, New York CNN, Vanderbilt University, BlackRock, Fidelity, Justice Department, Securities and Exchange Commission, SEC Locations: New York, European

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