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“This will be the first Olympics, since Sydney, where the total costs are coming in under $10 billion,” said Victor Matheson, a College of the Holy Cross professor of economics who has researched the financial costs of the Olympics. Workmen adjust banners on the 3x3 basketball venue located at La Concorde, in Paris, ahead of the 2024 Olympic Games. Additionally, the Paris Olympic Village will be converted into offices and housing in a historically impoverished neighborhood. Still, economists say, it may take more drastic moves in the future for the Olympics to be truly sustainable and economically sound. “I love the Olympics, and I love sporting events, but I just really do not think that the way the Olympics works now is a viable business model,” Phalin said.

Persons: ”, Victor Matheson, “, “ It’s, David Gray, Andrew Zimbalist, ” Zimbalist, Michael Kappeler, it’ll, Fabrice Coffrini, Zimbalist, ‘, Amanda Phalin, Christian Petersen, I’m, ” Phalin, you’ve, it’s, Andrew Medichini, shuttlecocks, Matheson, Phalin Organizations: CNN, Olympic, Paralympic Games, Paris Games, of, IOC, La Concorde, Getty, Mexico City Games, Montreal Games, Smith College, Olympics, Oxford University, Audit Board, Tokyo, Eiffel, Paris, University of Florida’s Warrington College of Business, Games, of Investment, Development Authority, French, ” Workers, Palais, AP Paris Locations: Paris, Sydney, La, AFP, Mexico, Munich, ” Los Angeles, Tehran, Beijing, Sochi, France, “, Lake Placid , New York, Lake Placid, ”, Los Angeles, Oklahoma

☆ Why the Paris Olympics cost so much less than in Rio, London or Tokyo
▼ + stars: | 2024-07-25 | by ( Darren Geeter | ) www.cnbc.com time to read: +1 min

About 10,000 athletes, a record 8.6 million tickets sold and billions of television viewers worldwide: That's the Olympics, and they are set to start on Friday in Paris. Since the 1960s, every city hosting the Olympics exceeded its initial budget by a large margin, according to an Oxford University study. Spending at the 2024 Paris Olympics is expected to come in at under $10 billion — only about 25% over the initial budget, according to an S&P Global Ratings report. About 95% of the venues slated for use during the Paris Olympics existed prior to the city's winning bid to host the Games, according to the S&P Global Ratings report. Watch the video to learn more about how Paris is poised to pull off one of the cheapest Olympics in modern history.

Organizations: Oxford University, Aquatics Locations: Paris, Rio de Janeiro, Tokyo

“When I got on scene, I started to cry,” said Rochester Hills Mayor Bryan Barnett Saturday night. “Because I know what a splash pad is supposed to be. The scene of a shooting at the Brooklands Plaza Splash Pad in Rochester Hills, Michigan, on Saturday, June 15, 2024. Police respond to the scene of a shooting at the Brooklands Plaza Splash Pad in Rochester Hills, Michigan, on Saturday, June 15, 2024. “I am heartbroken to learn about the shooting in Rochester Hills,” she wrote.

Persons: Oakland County Sheriff Michael Bouchard, ”, John James, Bouchard, “, Bryan Barnett, ” Bouchard, “ We’re, WDIV, Gretchen Whitmer Organizations: CNN — Police, Oakland County Sheriff, Michigan, Rochester Hills, Michigan State University, CNN, Brooklands, Rochester, Police, Investigators, Authorities, Oxford, Gov Locations: Rochester Hills , Michigan, Brooklands, Oakland County, Rochester, Oxford , Michigan, Oxford, Rochester Hills

☆ Black creators were instrumental in building TikTok. Now they fear they'll be hit the hardest by a ban.
▼ + stars: | 2024-05-01 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +10 min

But largely, TikTok is a place Black creators found where they could thrive and reach new audiences and customers for their growing businesses. It wasn't that the content wasn't good, Ford said, it was that Instagram "just wasn't a place for Black creators, minority creators, to excel." Some Black creators suspected their Black Lives Matter content was suppressed in 2020 after George Floyd's death ignited a wave of protests. AdvertisementBlack TikTokers have also expressed an "undertone of anti-Blackness" in the platform's algorithm, where white creators benefited from the trends started by Black creators. AdvertisementThis is disheartening, Black creators told BI, because so many top trends and ideas come from their community.

Persons: —, Joe Biden, TikTok, Tenyse Williams, It's, Funmi Ford, Ford, Nya, I've, Étienne, Keith Lee, entrepreneurialism, Kahlil Dumas, Dumas, George Floyd's, Jalaiah Harmon, Black TikTokers, Williams, Imani Bashir, Bashir, We're, isn't Organizations: Service, Senate, Business, Consulting, University of Central, Columbia University, George Washington University, Pew Research Center, An, Free, Black, New York Times, Forbes, YouTube, BI Locations: University of Central Florida, Instagram, An Oxford, Atlanta

☆ TikTok creators fear for their livelihoods after U.S. lawmakers pass bill that could lead to ban
▼ + stars: | 2024-04-24 | by ( Zach Vallese | ) www.cnbc.com time to read: +7 min

"TikTok allows small businesses and creators to find their people in their community," Nichols told CNBC, ahead of the bill's signing. watch nowNichols joined a number of other TikTok creators in traveling to the Capitol to oppose a potential ban. TikTok creators and influencers, living far out of the realm of politics, have a very different concern. Tony Youn, a plastic surgeon with 8.4 million TikTok followers, said finding a big audience is difficult. WATCH: Senator Markwayne Mullin talks passage of Tiktok ban

Persons: Craig Hudson, Ophelia Nichols, Nichols, Biden, TikTok didn't, Shou Zi Chew, TikTok, Markwayne Mullin, CNBC's, Mullin, they'll, Zi Chew, Sen, John Fetterman, Anna Moneymaker, livestreams, Adam Mosseri, Tony Youn, Youn Organizations: Foreign, Capitol, Washington , D.C, CNBC, Oxford, TikTok, America Survey, Lawmakers, Communist Party, Russell Senate, ByteDance, Getty, YouTube, Meta, Facebook Locations: Washington , U.S, Alabama, Washington ,, Israel, Ukraine, Taiwan, It's, American, U.S, TikTok, United States

☆ Fashion designer Roberto Cavalli, renowned for fierce animal prints and riviera chic, dies at 83
▼ + stars: | 2024-04-12 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +5 min

CNN —Roberto Cavalli, the Italian fashion designer who made his mark on the fashion world with distinctive, glamorous animal prints, has died at the age of 83. Roberto Cavalli walks the runway after a fashion show showcasing his label's designs in Budva, Montenegro on June 10, 2013. Along with animal prints and intarsia leather, denim became a core element of his signature style, leading to the establishment of a more youthful offshoot brand, Just Cavalli, in 1998. Flanked by models in quintessential Cavalli florals and animal prints, Roberto Cavalli takes his bow after his label's Spring-Summer 2015 menswear show at Milan Fashion Week on June 24, 2014. “Dear Roberto, you may not be physically here with us anymore but I know I will feel your spirit with me always.

Persons: CNN — Roberto Cavalli, ” Roberto Cavalli, Francois Guillot, Roberto Cavalli’s, ” Cavalli, Giuseppe Rossi, Cavalli, Pierre Cardin, ” ’ Cavalli, ”, Roberto Cavalli, Savo Prelevic, Eva Maria Düringer, Düringer, Miss Austria, — Cavalli, —, Sandra Nilsson, animalism, Daniele Venturelli, Peter Dundas, Dundas, Paul Surridge, Fausto Puglisi, Puglisi, “, Roberto, ” Puglisi Organizations: CNN, Milan, Getty, Florence’s Academy of Art, Miss, Oxford University, Metropolitan Museum of Art Locations: AFP, Florence, Hermès, Paris, Milan, Saint, Budva, Montenegro, Austrian, New York, Dubai

☆ Enhanced Games Are Olympics With Steroids, Pay; Meet the Founder
▼ + stars: | 2024-03-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +14 min

Several countries pay bonuses to medal winners, and high-profile athletes may get brand deals and sponsorships, but many Olympic athletes live quiet lives. AdvertisementD'Souza suggested he received funding for the Enhanced Games in the "single-digit millions" but declined to specify the amount. So far, it's unclear what kind of talent Enhanced Games will attract. He said that at the Enhanced Games, athletes would get comprehensive health checkups to monitor the effects of "whatever enhancement protocols" they're on and ensure they're fit to compete. D'Souza said he planned to announce more details about the Enhanced Games this summer — right around the Paris Olympics.

Persons: Aron D'Souza, gymgoers, D'Souza, Thomas Bach, Bach, Uber, Christian, Christian Angermayer, Balaji Srinivasan, Coinbase's, Peter Thiel, Angermayer, Srinivasan, Thiel, Hulk, Charles Harder, Harder, didn't, Sargon, Peter, VCs, Thiel hasn't, he's, James Magnussen, James, he'd, Marta Nawrocka, BI's Gabby Landsverk, Jim Walden, Grigory Rodchenkov, it's, who'd Organizations: International, Olympic, IOC, West Germany's Olympic, The New York Times, Business, Apeiron Investment, University of Melbourne, Gawker Media, BuzzFeed, Gawker, Abrams, Australian Financial, US, Doping Agency, UFC, Drug Free, NFL, NBA, MLB, Testing Agency, ITA, CNN, FBI, Sports, Gaming Initiative, Paris Locations: Miami, Lausanne, Switzerland, Oxford, Australian, Russia

☆ Inside the Garrick, the Elite Men-Only London Club Rocked by Criticism
▼ + stars: | 2024-03-27 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

On a side street in Covent Garden stands an imposing palazzo-style building, strangely out of place amid the burger joints and neon marquees of London’s theater district. It houses the Garrick Club, one of Britain’s oldest men’s clubs, and on any given weekday, a lunch table in its baronial dining room is one of the hottest tickets in town. A visitor lucky enough to cadge an invitation from a member might end up in the company of a Supreme Court justice, the master of an Oxford college or the editor of a London newspaper. Women are excluded from membership in the Garrick and permitted only as guests, a long-simmering source of tension that has recently erupted into a full-blown furor. Mr. Moore’s membership seemed at odds with his efforts to bring more racial and gender diversity to the British spy agency, known as MI6.

Persons: Garrick, Richard Moore, Simon Case, Case, derisory Organizations: Garrick Club, Oxford, Guardian, Secret Intelligence Service Locations: Covent, London, British, ”

☆ Rose Dugdale, Heiress Turned Irish Independence Fighter, Dies at 82
▼ + stars: | 2024-03-22 | by ( Clay Risen | ) www.nytimes.com time to read: +1 min

Rose Dugdale, an Oxford-educated Englishwoman who left a life of wealth to become a partisan activist fighting for Irish independence, in a career that included bomb making, hijacking and art theft, died on March 18 in Dublin. Her death, in a nursing home, was confirmed by Aengus O Snodaigh, a friend and a member of the Irish Parliament. Throughout the 1970s, Ms. Dugdale, whose family owned a large share of the insurance company Lloyd’s of London, captivated the British and Irish news media with her exploits. She and an accomplice were arrested in 1973 for stealing thousands of dollars in art and silverware from her parents’ home, with plans to sell it and give the proceeds to the Irish Republican Army. Her father, Eric, appeared as a witness at her trial, and under British law she was allowed to cross-examine him herself — an opportunity she used to make political statements.

Persons: Rose Dugdale, Aengus O, Dugdale, Patricia Hearst, ’, Eric, — Organizations: Irish, Irish Republican Army Locations: Oxford, Dublin, London, United States

☆ Why Zyn nicotine pouches are all the rage among workers looking for a boost
▼ + stars: | 2024-03-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why Zyn nicotine pouches are becoming the go-to alternative for workers looking for a boost . Zyn, a brand of nicotine pouch, has quickly gained a loyal following among some workers looking for a boost during the day. There was a 62% year-over-year bump in the amount of flavored nicotine pouches shipped in the US in 2023. Containers of "Zyn" nicotine pouches. He said the nicotine pouches were too accessible and gave him migraines.

Persons: —, Michael M, Jenny Chang, Rodriguez, Sarah Jackson, Tim Paradis, Sarah, Tim, it's, Zyn, Tim he'll, vaping, Mark Spitznagel, Spitznagel, Samantha Lee, Stanley, Max, Bob Jordan, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Getty, Wall Street, Republican, New York Stock Exchange, UBS, Electronic Arts, Verizon, Ford, Reading, Airlines, Boeing Locations: Copenhagen, New, Wall St , New York, USA, Oxford, New York, London

☆ If You Liked ‘Saltburn,’ Consider This Much Better Movie
▼ + stars: | 2024-02-19 | by ( Beatrice Loayza | ) www.nytimes.com time to read: 1 min

I was at my mom’s house in the suburbs when I watched Barry Keoghan make love to his bestie’s grave in Emerald Fennell’s “Saltburn.”“Promising Young Woman,” Fennell’s previous film, a rape-revenge thriller for the girlboss generation, was a toothless bid at provocation. “Saltburn” seemed to promise a similar blend of all style, no substance, but the online hype had piqued my curiosity. So, there I was, watching Keoghan as an Oxford student named Oliver become one with the soil, my mother snoozing beside me. The moment brought back memories from adolescence of the dozens of times she’d walk into my teenage bedroom — or the same living room where I was watching “Saltburn” — to find me slack-jawed in the middle of “Basic Instinct” or “A Clockwork Orange.” Naturally, she always seemed to waltz in during the most morally compromised or sexually bewildering scenes.

Persons: Barry Keoghan, ” “, ”, Saltburn ”, Oliver, “, — Locations: Oxford

☆ Everyone needs an editor. Lyft just learned it the hard way
▼ + stars: | 2024-02-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

That goes for MBAs as much as MFAs, and it’s a lesson Lyft executives learned the hard way on Tuesday, when an errant zero sent its stock (briefly) to the stratosphere. The Lyft typo came in an earnings report that stated, incorrectly, that the company’s estimated gross margin would expand by 500 basis points, which would amount to a stunning five-percentage-point bump. The stock shot up more than 60% before Lyft’s CFO corrected the error on a call with analysts, bringing the stock back to Earth. With the error in the rear view, Lyft shares were up up 30% Wednesday, bolstered by stronger-than-expected earnings and a rosy outlook for future cash flows. “Look, it was a bad error, and that’s on me,” Lyft CEO David Risher told CNBC on Wednesday.

Persons: CNN Business ’, History’s, —, Arthur C, Clarke, Galena Biopharma, King Charles I, ”, David Risher Organizations: CNN Business, New York CNN, MBAs, Citibank, Citi, Mizuho Securities, NASA, New York Times, Bangladesh Bank, Reuters, Maine, SEC, CNBC Locations: New York, Mizuho, Galena

☆ Opinion: The Jennifer Crumbley verdict is a powerful warning to parents
▼ + stars: | 2024-02-07 | by ( Opinion Jennifer Tucker | ) edition.cnn.com time to read: +9 min

Prosecutors alleged that the Crumbley parents willfully disregarded warning signs that their son was in crisis, did not heed concerns of school administrators, bought him a gun days before the shooting and failed to lock it up. Yet, research shows that even parents who think their guns are inaccessible to minors are mistaken. Distributed responsibilityMost parents want their children to be safe, yet many continue to enable household access to loaded guns. In fact, a recent study shows that states often loosened gun laws after mass shootings, especially states with Republican legislatures. This case opens the door for parents to be held legally accountable, and reminds all parents of their responsibilities when it comes to gun safety.

Persons: Jennifer Tucker, Jennifer Crumbley, Ethan Crumbley, She’ll, Jennifer Tucker Olivia Drake, Shannon Smith, ”, Sig Sauer, James Crumbley, “, it’s, Payton Gendron, Robert Crimo Organizations: Wesleyan University, Wesleyan’s Center, Guns and Society, Brennan Center for Justice, NYU Law School, CNN, Prosecutors, RMA Armament, Buffalo, Buffalo News, Giffords Law Center, “, District of Columbia, American Medical Association, National Rifle Association Locations: Oxford, Michigan, Buffalo , New York, Buffalo, Chicago, Highland Park , Illinois, Illinois, Virginia, American

☆ Jennifer Crumbley, mother of school shooter, found guilty of manslaughter in test of who’s responsible for a mass shooting
▼ + stars: | 2024-02-06 | by ( Eric Levenson | Lauren Del Valle | ) edition.cnn.com time to read: +8 min

Jennifer Crumbley looked down at her clasped hands as the verdict was read. Live updates: Jury reaches verdict in Jennifer Crumbley trialJennifer Crumbley exits from the courtroom in shackles on Tuesday after her guilty verdict. Over a week of testimony, law enforcement officials, school employees, shooting victims and those who knew Jennifer Crumbley testified for the prosecution. Jennifer Crumbley took the stand in her own defense and, in a remarkable moment, expressed no regret for her actions. Jennifer Crumbley testified the school meeting was “nonchalant” and “brief.”“We agreed that it might stress him out more to do his school remotely the rest of the day.

Persons: Jennifer Crumbley, Bill Pugliano, it’s, we’ve, ” Craig Shilling, Justin Shilling, ”, James, Jennifer Crumbley’s, James Crumbley’s, Ethan, “, Karen McDonald, Ethan himself, Shannon Smith, ” Smith, “ I’ve, Hana St, Juliana, Madisyn Baldwin, Tate Myre, Prosecutors, Crumbley, Ethan “, ” McDonald, Tate, Madisyn, Justin Organizations: CNN, Oxford High School, WXYZ, Defense Locations: Oxford , Michigan, Detroit, Oakland

☆ Malaysia's new king is a billionaire with a collection of 300 luxury cars, his own private army, and family ties to Hitler
▼ + stars: | 2024-01-31 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Malaysia has a new billionaire king who has his own army, a fleet of private jets, and 300 luxury cars, including one apparently gifted by Adolf Hitler. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony. AdvertisementAccording to Bloomberg, the Johor family is worth an estimated $5.7 billion. In a resurfaced 2013 interview posted to YouTube in 2017, Sultan Ibrahim said Hitler was a friend of his great-grandfather. AdvertisementSultan Ibrahim's wife, Raja Zarith Sofiah, is from another royal family, an Oxford graduate, and a children's books author, according to the Associated Press.

Persons: Adolf Hitler, Sultan Ibrahim Iskandar, Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, MOHD RASFAN, Sultan Ibrahim —, Yang di, Pertuan, Sultan Ibrahim, Hitler, Harley, Sultan Ibrahim's, HASNOOR HUSSAIN, couldn't, Mahathir Mohamad, Mohamad, Raja Zarith Sofiah Organizations: Malaysia's, Singapore Straits Times, Business, Bloomberg, Ferrari, Getty, Reuters, U Mobile, ABC News, YouTube, Davidson, Guardian, Sydney Morning Herald, Associated Press Locations: Malaysia, Malaysia Sultan, Johor, Singapore, Great Britain, England, Kuala Lumpur, Malaysian, Oxford

☆ Oxford, Michigan, school shooter’s parents on trial: Cases will test limits of who’s responsible for a mass shooting
▼ + stars: | 2024-01-25 | by ( Eric Levenson | ) edition.cnn.com time to read: +9 min

CNN —The parents of Ethan Crumbley, the teenager who in 2021 opened fire at his high school in Oxford, Michigan, are set to go on trial for manslaughter in a case that will test the limits of who is responsible for a mass shooting. Opening statements in Jennifer Crumbley’s trial are set for Thursday, and James Crumbley’s trial is tentatively scheduled to start March 5. They also say the parents did not mention the gun to school officials in a meeting to discuss Ethan’s disturbing drawings just hours before the fatal shooting. According to a prosecution filing from last year, Jennifer Crumbley “placed blame” on her husband in the shooting, leading to the split. Jennifer Crumbley later posted on her social media, “mom and son day testing out his new Christmas present,” prosecutors said.

Persons: Ethan Crumbley, James, Jennifer Crumbley, Jennifer Crumbley’s, James Crumbley’s, “ It’s, ”, Misty Marris, it’s, “, Marris, James Crumbley, Jennifer Crumbley “, Ethan, Jennifer Crumbley texted, Robert Crimo Jr, Frank Vandervort, ” Vandervort, you’ve, Joey Jackson, don’t Organizations: CNN, University of Michigan Law School Locations: Oxford , Michigan, Oxford, Chicago, Highland Park , Illinois, Illinois, Virginia

Neither of the weekend’s top new releases — “Wish” and Ridley Scott’s “Napoleon” — could keep up with Lionsgate's “Hunger Games” prequel. With an estimated budget of $200 million, “Napoleon” may still have a long road to reach profitability for Apple, which partnered with Sony to distribute “Napoleon” theatrically. “Wish," at least, is faring better than Disney’s Thanksgiving release last year: 2022's “Strange World" bombed with a five-day $18.9 million opening. Alexander Payne's film starring Paul Giamatti as a boarding school instructor made $3.8 million over the five-day weekend. Ticket sales overall reached $172 million in U.S. and Canada theaters over the five-day holiday weekend, according to Comscore.

Persons: ”, Ridley Scott’s “ Napoleon ” —, Lionsgate's, Panem, Napoleon ”, Joaquin Phoenix, Vanessa Kirby, Joséphine de Beauharnais, Napoleon, Martin Scorsese’s, “ Napoleon ”, “ Ralph, Coco ”, Chris Buck, Jennifer Lee, Ariana DeBose, Chris Pine, Critics weren't, ’, Paul Dergarabedian, We're, “, Barry Keoghan, Jacob Elordi, Bradley Cooper's, Maestro ”, Alexander Payne's, Paul Giamatti, Comscore, “ Napoleon, “ Taylor Swift Organizations: Walt Disney Co, Rotten, Apple Studios, Apple, Sony, Disney, Marvel, DreamWorks, Universal Pictures, Amazon, MGM, Netflix, it's, “ Locations: Waterloo, Oxford, Canada

☆ At 40, J. Crew Shakes Off a Midlife Crisis
▼ + stars: | 2023-11-22 | by ( Maggie Bullock | ) www.nytimes.com time to read: +2 min

Since 2021, when her bosses asked her to make her Instagram account public, her following has gone from under 1,000 to 148,000. She’s not on TikTok, yet a search of her name there pulls up 2.2 million views. The selfies Ms. Gayot casually shoots in the full-length mirror of her office of herself wearing J. Crew with enviable ease — topped by her trademark mane of Botticelli curls — are starting to fill that Jenna Lyons cult-of-personality void without getting exactly personal, as Ms. Lyons is wont to do. Ms. Gayot started her new job in the very early days of the pandemic, pregnant with her second child and coming into the office daily, long before a vaccine was on the horizon.

Persons: She’s, Gayot, —, Jenna Lyons, Lyons, “, ”

Fourteen months between a deadly high school shooting and another at MSU. Ossege was severely wounded during the Nov. 30, 2021, attack on Oxford High School, about 40 miles (60 kilometers) north of Detroit. On the day of the Oxford shooting, a bullet traveled through Ossege’s clavicle and ribs and exited her back, causing a concussion of the spinal cord that left her briefly paralyzed. An Oakland County sheriff’s deputy who befriended Ossege during the Oxford shooting drove to MSU, picked her up and took her home. When Ossege is home from school, she makes the 30-minute drive north from Oxford to Mayfield Township, where Blaze is boarded.

Persons: Kylie Ossege, Blaze, ” Ossege, “, ”, Ossege, Hana St, Juliana, Justin Shilling, Madisyn Baldwin, Tate, Ethan Crumbley, Marita, Uber, Daniel Sciubba, Sciubba, ” Sciubba, “ I’m, “ He’s, Robert Bumsted Organizations: Oxford High School, Michigan State University, MSU, Oxford, Oxford Elementary School, East, Northwell Health, Lenox Hill, Oakland County sheriff’s Locations: MAYFIELD, Mich, Michigan, Detroit, Pontiac, Oxford, East Lansing, New York City, U.S, Oakland County, Mayfield Township, New York

☆ Asset manager GMO's first ETF will focus on 'quality' companies
▼ + stars: | 2023-11-13 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Nicholas Roberts/File Photo Acquire Licensing RightsNov 13 (Reuters) - GMO LLC, the asset management firm co-founded by veteran investor Jeremy Grantham, will launch its first exchange-traded fund (ETF) on Wednesday. Holdings in GMO's quality stock-focused mutual funds include companies like Microsoft (MSFT.O), Johnson & Johnson (JNJ.N) and Apple (AAPL.O). About 22% of all inflows into ETFs this year have been to active ETFs, which represent only 7% of total ETF assets, according to Todd Sohn, an ETF analyst at Strategas. The fund will be managed by Tom Hancock, who has been running a $7.9 billion mutual fund with a similar focus, the GMO Quality III , since 2009. The GMO launch is the second steered to market by the Goldman Sachs ETF Accelerator, which offers asset managers consulting advice on each stage of the launch process.

Persons: Jeremy Grantham, Nicholas Roberts, Johnson, Todd Sohn, Tom Hancock, Goldman Sachs, Hancock, Suzanne McGee, Ira Iosebashvili, Lisa Shumaker Organizations: Pace University, REUTERS, Quality, Holdings, Microsoft, Apple, CFRA Research, Goldman, Thomson Locations: Oxford, New York

☆ 10 ways artificial intelligence is changing the workplace, from writing performance reviews to making the 4-day workweek possible
▼ + stars: | 2023-07-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +13 min

Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."

Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford

☆ ChatGPT creator says AI advocates are fooling themselves if they think the technology is only going to be good for workers: 'Jobs are definitely going to go away'
▼ + stars: | 2023-07-25 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

But OpenAI CEO Sam Altman says some jobs are "definitely going to go away." New jobs could be created in their place, but not all displaced workers will benefit. In March, Goldman Sachs forecasted that 300 million full-time jobs across the globe could be disrupted — not necessarily replaced — by AI. Altman told The Atlantic that he expects better — perhaps higher-paying jobs — will be created in place of the ones that are disrupted. The question, however, is whether displaced workers will be able to navigate their way to these new gigs.

Persons: Sam Altman, Altman, he's, it'd, Jobs, Goldman Sachs, Carl Benedikt Frey, Ethan Mollick, — Organizations: Service, OpenAI, ChatGPT, Columbia Business School, University of Pennsylvania's Wharton School Locations: Wall, Silicon, Oxford

☆ Want to know how to get ready for the rise of AI? Dig into the past.
▼ + stars: | 2023-07-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

It's why top researchers are looking to the past as a guide to predict how generative AI could affect workers' jobs in the years and decades to come. "It's possible that in the end, we get better jobs, but in the short term, there's a lot of disruption," Mollick said. But Raymond warned that AI could produce some less-desirable outcomes for customer-service workers, particularly if customer-support chatbots become much more capable and advanced. The extent to which AI displaces jobs will depend on how quickly it scales what Mollick calls the "three levels" of work: tasks, jobs, and systems. Instead, what I would be thinking about is: How do you figure out how to use it to do your job better?"

Persons: Ethan Mollick, Mollick, Carl Benedikt Frey —, Frey, Lindsey Raymond —, —, Raymond, that's, chatbots, Oded, There's Organizations: Service, University of Pennsylvania's Wharton School, MIT Sloan School of Management, White, National Bureau of Economic Research Locations: Wall, Silicon, Oxford, COVID, Columbia

☆ AI can pick top-performing private equity funds better than many institutional investors, Oxford study finds
▼ + stars: | 2023-07-04 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

AI can pick private equity firms to back better than many investors, per an Oxford study. Artificial intelligence can pick out top-performing private equity (PE) funds better than many institutional investors, according to research from the University of Oxford. Researchers trained an AI model to identify high-performing PE funds by reading 400 fundraising prospectuses and factoring in long sections that are often overlooked by investors, for a study by the Saïd Business School. Ludovic Phalippou, the lead researcher and a professor of financial economics at Oxford Saïd. But only a limited number of investors have the resources to take advantage of AI, so Phalippou expects to see consultants add it to their services.

Persons: Ludovic Phalippou, Oxford Saïd, Phalippou Organizations: University of Oxford, Saïd Business School, Oxford, Oxford Saïd, Coller Locations: Oxford

☆ AI could supercharge the Gen Z takeover
▼ + stars: | 2023-07-01 | by ( Alexandra York | Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Experts told Insider that Gen Z was well positioned to capitalize on the AI boom. That could supercharge Gen Z careers, as generative AI is expected to affect millions of jobs, and companies are already seeking talent to help navigate those changes. "From that perspective, Gen Z should be in a good position to capitalize on the AI boom." Gen Zers are using AI for research and brainstormingLais Silva, a Gen Z content manager at a social-media startup, said she'd essentially replaced Google with ChatGPT. Older generations could have a competitive edge over Gen Z because of experience — if they're open to learning AI toolsThe AI revolution isn't guaranteed to be a boon for Gen Z workers.

Persons: Z, —, AJ Eckstein, He's, He'll, Eckstein isn't, they'd, Gen Zers, ChatGPT, Carl Benedikt Frey, Eckstein, Lais Silva, she'd, Morgan Young, chatbots, She'll, Oxford's Frey, Columbia's Netzer, Gen Organizations: Service, Fortune, Columbia Business School, Pew, Oxford University, Google

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