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☆ Dakhla Atlantic Port: How a small, windy city could become a gateway for trade
▼ + stars: | 2024-05-28 | by ( Nell Lewis | ) edition.cnn.com time to read: +4 min

Spanning 1,650 hectares, the complex will include a trade port with an oil terminal, a fishing port and a shipyard. “We’re constructing an ecosystem,” Nisrine Iouzzi, the director of construction for the Dakhla Atlantic Port, tells CNN. Gateway to AfricaThe project is part of Morocco’s national port strategy, which aims to modernize and strengthen port infrastructure by 2030, in order to enhance its role in global supply chains. Video Ad Feedback Dakhla Atlantic Port aims to boost trade across West Africa 02:26 - Source: CNNWith the implementation of Africa’s continental free trade agreement, which aims to create a single market for goods and services, the port could encourage the processing of raw materials within the continent. “Local disputes can make developing port infrastructure and reliable logistics much more challenging,” says Mooney.

Persons: CNN —, Nisrine Iouzzi, “, ”, Mounir Houari, Houari, ” Turloch Mooney, Mooney Organizations: CNN, United, United Arab Emirates, Dakhla’s Regional Investment Center, Port, P Global Market Intelligence Locations: Western Sahara, Morocco, Tangier, Mauritania, West Africa, East, Europe, North America, South America, United Arab, Gateway, Africa, Casablanca, Tanger, Med, Agadir, West, Mali, Chad, Niger, Burkina Faso, Sahara, ”, “

☆ Some Asian American and Pacific Islander women face a $1 million salary shortfall due to the pay gap
▼ + stars: | 2024-05-28 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

For Asian American, Native Hawaiian and Pacific Islander women, they'll have to work until April 3 to make the same pay white men earned the year before. Together, AAPI women are typically paid just 93 cents for every dollar paid to white men, although the pay gap varies significantly for some AAPI communities. For example, Bhutanese women working full time earn just 49 cents for every dollar white men earn. The lifetime wage gap totals more than $1.4 million for Bhutanese women. There are other groups of AANHPI women working full time who make more than white men, including Chinese women, Indian women, Malaysian women and Taiwanese women; however, these women still make less than men in their respective communities, the report also found.

Persons: Sarah Javaid, AAPI —, Biden, Javaid, they've Organizations: Pacific, National Women's Law, Malaysian Locations: Hawaiian, U.S

☆ It turns out that empathy is contagious, so try to pay it forward
▼ + stars: | 2024-05-28 | by ( Dr. Katie Hurley | ) edition.cnn.com time to read: +6 min

A new study that tracked 184 people (99 females and 85 males) for two decades starting at age 13 found that empathy is catching. When we practice empathy with our teens, we literally pay it forward for the next generation. “These mothers showed parental warmth with their teens, and these teens learned empathy in the moment. Handle your own stressStress can be contagious in families, and you can’t help your teens if you are feeling compromised. Empathy development doesn’t occur within the context of a single monologue, rather a series of chats over time.

Persons: Katie Hurley, Strong, Fiona McPhee, ”, it’s, Michele Borba, “, Borba, ” Borba, that’s, you’re Organizations: CNN, University of Virginia, “ Research

☆ OpenAI's former executive Jan Leike joins its rival Anthropic days after quitting over safety concerns
▼ + stars: | 2024-05-28 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Ex-OpenAI exec Jan Leike joined rival AI company Anthropic days after he quit over safety concerns. Leike, who co-led OpenAI's Superalignment team, left less than two weeks ago. AdvertisementOpenAI's former executive Jan Leike announced he's joining its competitor Anthropic. Leike co-led OpenAI's Superalignment team alongside cofounder Ilya Sutskever, who also resigned. The team was tasked with ensuring superintelligence doesn't go rogue and has since been dissolved, with remaining staffers joining the core research team.

Persons: Jan Leike, OpenAI's, OpenAI, —, he's, Leike, Ilya Sutskever, superintelligence, @AnthropicAI Organizations: Service, Amazon, Business

☆ UAE ATRC chief: We want to have our own footprint in artificial intelligence
▼ + stars: | 2024-05-28 | 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 EmailUAE ATRC chief: We want to have our own footprint in artificial intelligenceFaisal Al Bannai, secretary general of the Advanced Technology Research Council in Abu Dhabi, discusses the United Arab Emirates' plans to expand its artificial intelligence capabilities.

Persons: Faisal Al Bannai Organizations: UAE ATRC, Advanced Technology Research, United Arab Locations: Abu Dhabi, United Arab Emirates

☆ Target slashed this year's Pride collection after last year's backlash, leaving some LGBTQ+ insiders feeling alienated
▼ + stars: | 2024-05-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewOn Tuesday, May 14th, members of Target's LGBTQ+ employee resource group logged on for a much-anticipated virtual meeting to preview the 2024 Pride collection, two council members told Business Insider. Target's online Pride collection on May 28. But late last May, conservative protesters took aim at Target's Pride collection, falsely claiming the merchandise was "Satanic" and sexualized minors. However, the two Pride Council members and multiple LGBTQ+ vendors who worked on past Pride collections told BI they feel the company hasn't done enough to rebuild its relationship with its LGBTQ+ partners over the past year. AdvertisementOne of the employees involved in the Pride Council told BI that a lot of LGBTQ+ people, herself included, joined Target specifically because of its stated support for trans and queer rights.

Persons: —, Brand Management Carlos Saavedra, Dominick Reuter, Erik Carnell, hasn't, Hayley Marzullo, Marzullo, Leslie Garrard, Garrard Organizations: Service, Business, Brand Management, Pride +, Council, Target, Pride Council, Christian Right, BI Locations: —

☆ Upward pressures on inflation will not go away anytime soon, says Strategas' Jason Trennert
▼ + stars: | 2024-05-28 | 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 EmailUpward pressures on inflation will not go away anytime soon, says Strategas' Jason TrennertJason Trennert, Strategas Research Partners chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, the Fed's rate path, and more.

Persons: Strategas, Jason Trennert Jason Trennert Organizations: Strategas Research

☆ Elon Musk runs successful companies. That doesn't mean he's doing it very well, HR experts say.
▼ + stars: | 2024-05-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +6 min

Advertisement"Desperate times call for desperate measures," Musk told CNBC's David Faber in May 2023. On top of Tesla and X, Musk also runs SpaceX, Neuralink, AI startup xAI, and an underground tunnel company. AdvertisementAt Tesla, Musk told his employees that he would personally approve all new hires, according to an email obtained by Business Insider. Musk is also known to have fired employees who disagreed with his decisions. AdvertisementOther former Twitter employees and executives have sued Musk, accusing him of unpaid severance pay.

Persons: —, Elon Musk, Tesla, Musk, CNBC's David Faber, Lex Fridman, Walter Isaacson, Musk's, Alec Levenson, " Levenson, Spencer Platt, that's, Weeks, Kali Hays, Levenson Organizations: Service, EV, Bloomberg, Twitter, Business, SpaceX, University of Southern California Marshall Center, Getty, New York Times, National Labor Relations, BI, NLRB, Musk's SpaceX, Twitter's Locations: York

☆ The S&P 500 was up more than 10% in the first 100 trading days of 2024. Here's what typically happens next
▼ + stars: | 2024-05-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The S & P 500 's strong first 100 trading days of 2024 is a good omen for the rest of the year, according to Bank of America technical research strategist Stephen Suttmeier. As of May 23, the 100th trading day of 2024, the S & P 500 rallied more than 10% for the year. .SPX YTD mountain S & P 500 year to date Historically, when the S & P 500 rises 10% or more in the first 100 days of any year, the index is higher the rest of the year 76% of the time, the strategist said. In this case, the average return comes in at 7.1%, with a higher median return of 9.3%. If 2024 followed that pattern, the S & P 500 would stand at 5650 shortly before Labor Day, based on the May 23 close, Bank of America said.

Persons: Stephen Suttmeier, Suttmeier, — CNBC's Michael Bloom Organizations: Bank of America, Labor

☆ This is the word of the summer on Wall Street
▼ + stars: | 2024-05-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Bifurcation is the word of the summer. Or it’s the word of the summer among investors, at least. It’s a word that the market gets hung up on and then all you do is hear that word. But I think that’s nearing an end, and so I would expect a slowdown in consumer spending. I’m not so sure that’s going to happen this time because their balance sheets and cash flows aren’t as strong.

Persons: Bell, Scott Wren, I’ve, We’ve, You’ve, you’ve, they’ve, That’s, hasn’t, you’re, I’m, Elon Musk’s, Elon Musk, Anna Cooban, Andreesen Horowitz, Saudi Prince Alwaleed Bin Talal, xAI, Musk, Grok, Laura He, Xi Jinping’s Organizations: CNN Business, Bell, New York CNN, Nvidia, Fed, Elon, Investors, Sequoia Capital, xAI, Worth, China Construction Bank, China Integrated Circuit Industry Investment Fund, National Enterprise Locations: New York, United States, Wells Fargo, Silicon, Saudi, OpenAI, China, ICBC, Beijing

☆ What a generative AI iPhone could look like
▼ + stars: | 2024-05-28 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

Although artificial intelligence has powered some of the iPhone’s experiences for years, such as Live Text and improved autocorrect, generative AI could unlock new levels of interaction and personalization. The debut of an AI iPhone could also entice consumers to upgrade at a time when they’ve been holding onto older models longer. Now all eyes shift to Apple for its take on generative AI. Expediting AIBehind the scenes, Apple reportedly has been working on its on-device generative AI capabilities and acquiring companies for awhile, such as Canadian startup DarwinAI. But now it needs to show it’s going all in on artificial intelligence to stay relevant in a rapidly evolving industry.

Persons: Apple’s Siri, Siri, ”, Tim Cook, they’ve, Paul Schell, ” Schell, Thomas Husson, Forrester, Apple, Nabila, doesn’t, ” Popal, “, “ It’s, it’s Organizations: CNN, Developers Conference, Google, Samsung, ” Apple, Apple, ABI Research, Microsoft, Meta, IDC, Bloomberg, Huawei Locations: China

☆ McDonald's might never expand CosMc's. But the spinoff could still pay dividends
▼ + stars: | 2024-05-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Nearly six months since McDonald's opened its first CosMc's location, the hours-long drive-thru lines have died down, but the chain is just getting started. Since opening the initial location in the Chicago suburb of Bolingbrook, McDonald's has opened three more CosMc's restaurants, all in Texas. In another sign of the new brand's expansion, it will launch its own mobile app and loyalty program, called CosMc's Club, on Tuesday. And loyalty program members earn 10 points for every dollar they spend; once they rack up 400 points, they can redeem them for $2 rewards. CosMc's buzz dies downAt McDonald's December investor presentation, Kempczinski downplayed the short-term effect of CosMc's.

Persons: McDonald's, Chris Kempczinski, Katie Belflower, CosMc's, Mark Kalinowski, Kempczinski, we're, Frappes, Weeks, Kalinowski, Amelia Lucas Organizations: Lone Star State, CosMc's, Kalinowski Equity Research, CNBC, Intouch Locations: Chicago, Bolingbrook, Texas, McDonald's, Illinois

☆ OPEC+ meeting: Here's what to expect
▼ + stars: | 2024-05-28 | 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 EmailOPEC+ meeting: Here's what to expectFrancisco Blanch, BofA Securities head of global commodity and derivatives research, joins 'Squawk on the Street' to discuss what to expect from OPEC this weekend, if Chinese oil demand is rising, and more.

Persons: Francisco Blanch Organizations: BofA Securities

☆ Inside Amazon's struggle to crack Nvidia's AI chip dominance
▼ + stars: | 2024-05-28 | by ( Eugene Kim | ) www.businessinsider.com time to read: +14 min

The in-house AI chip efforts have yet to make a major dent in Nvidia's grip on the market. 'Parity with CUDA'Internally at Amazon, Nvidia's CUDA platform is repeatedly cited as the biggest roadblock for the AI chip initiative. AdvertisementAn obvious response to this would be to have cloud customers use Amazon's own AI chips instead. AdvertisementFor example, AWS's AI chips still have "compatibility gaps" in certain open-source frameworks, making Nvidia GPUs a more popular option. Don't count Amazon outDespite Amazon's AI chip struggles, the effort seems to have caught the attention of Nvidia's CEO Jensen Huang.

Persons: —, Bernstein, Stacy Rasgon, I'm, Rasgon, Adam Selipsky, Jensen Huang, Andy Jassy, Inferentia, Trainium, We're, Snowflake's, Sridhar Ramaswamy, Eóin Noonan, Ramaswamy, James Hamilton, Jassy, Gartner, Amazon's, Huang Organizations: Service, Microsoft, Google, Business, Nvidia, Intel, Amazon, BI, Annapurna, NVIDIA CUDA, Netflix, Neuron, AWS, Amazon VP, James Hamilton Amazon, Amazon SVP Locations: Inferentia, Toronto, Canada, CUDA

Miss Kim brought in $1.89 million in sales in 2023 and made a net profit of $101,553 for the fiscal year from August 2022 to July 2023. "I started wondering, if I had Korean food or Asian food and I was able to tell this story…what would that look like?" In the fiscal year from August 2016 to July 2017, Miss Kim brought in $699,877 in sales, according to Kim. Doing away with tippingToday, Miss Kim is profitable and thriving, with total sales of $1.89 million in 2023. When Miss Kim first opened, "we decided that we're going to do away with tipped credit and pay people living wage."

Persons: Ji Hye Kim, Kim, Ann Arbor, Miss Kim, Young Kim, Hye Kim Kim, Paul Saginaw, Ari Weinzweig, Zingerman's, Hye Kim, she'd, It's, Kim didn't, Zach Green, Marisa Forziati Organizations: CNBC, U.S, University of Michigan, Dancing Sandwich Enterprises, Miss Locations: South Korea, New Jersey, Ann, Zingerman's, Ann Arbor, Michigan, New York, Saginaw, Korea, Ann Arbor , Michigan, gochujang, U.S, United States, Miss

☆ Nvidia and more: Citi names global stocks to play the semiconductor boom
▼ + stars: | 2024-05-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The global semiconductor industry is set to experience "groundbreaking changes," Citi said, naming stocks to play the theme. Here are six stocks from Citi's list, which stand out for having substantial upside potential, according to FactSet's consensus price targets. Nvidia Among Citi's list of top stocks is investor darling Nvidia . Samsung Electronics and SK Hynix South Korean tech giants Samsung Electronics and SK Hynix also made Citi's list. Citi also noted that SK Hynix is looking forward to stronger supplies of HBM3E chips through to 2025, "in line with the customer's roadmap."

Persons: Atif Malik, ASMPT, Kevin Chen, Takayuki Naito, Ibiden, Hynix, Peter Lee, — CNBC's Michael Bloom Organizations: Citi, Nvidia, Tokyo Stock Exchange, Franklin FTSE, Franklin FTSE Hong Kong ETF, BlackRock Future Tech ETF, Samsung Electronics, SK Hynix South, SK Hynix, Korea ETF, Franklin FTSE South Korea ETF Locations: Hong Kong, Franklin FTSE Hong, SK Hynix South Korean, Korea, Franklin FTSE South

☆ Some college graduates only need to make a $50,000 salary for a decade for their degrees to be worth it
▼ + stars: | 2024-05-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

College degrees are under fire given the pain of student debt and political and economic troubles. Some public university graduates only need to earn over $50,000 for a decade to make a return. Graduates pay more to live in popular states but they can win due to better job markets there. AdvertisementCrushing debt, political furor, and a brutal economic backdrop of historic inflation and higher borrowing costs have fueled fresh skepticism about the value of a college degree. Yet, stumping up the cash for one may still be worth it financially if it results in significantly higher earnings.

Persons: — Organizations: Service, Street Journal, Strada Education, Business

☆ Stock splits are bullish signals for companies, says Bank of America's Jared Woodard
▼ + stars: | 2024-05-28 | 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 EmailStock splits are bullish signals for companies, says Bank of America's Jared WoodardJared Woodard, head of research investment committee at Bank of America, joins CNBC's 'The Exchange' to discuss recent stock splits, which companies might be next to consider splits, and more.

Persons: America's Jared Woodard Jared Woodard Organizations: America's, Bank of America

☆ Why Walmart, Walgreens, CVS retail health clinic experiment is struggling
▼ + stars: | 2024-05-28 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

But the business experience in the retail health clinic space has largely disappointed. Walmart and the problem of volume vs. priceIn 2019, Walmart announced a bold initiative to open 4,000 in-store health clinics by 2029. "Primary health care is a low margin business," said Arielle Trzcinski, a principal analyst covering health care at research firm. "Compared to what they see in traditional retail, health care is a fundamentally different business," Trzcinski said, citing the challenges of navigating insurance companies and administrative burdens that health care brings. In-store health clinics can be profitable and viable, and retailers are experimenting with piecemeal approaches tailored to the local market.

Persons: Bobbi Radford, Radford, haven't, CVS's MinuteClinic, Karla Lemon, CVS's, I've, That's, Timothy Hoff, Hoff, didn't, Colleen Sanders, Sanders, Arielle Trzcinski, Forrester, Trzcinski, America Sanders, Virgil Brantz, Brantz Organizations: CVS, Walmart, Walgreens, Northeastern University, Insurance, Washington , D.C, Aetna, Retailers, Washington, Hartford HealthCare, Health Clinic, Arizona State University, Little Clinics, Kroger Locations: Batavia , Ohio, VillageMD, Southern California, New England, Conway , South Carolina, Washington ,, MinuteClinic, USA, America, Connecticut, Hartford, Phoenix, Atlanta, Little

☆ Former World Bank executive on how to close the global gender finance gap
▼ + stars: | 2024-05-28 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Against this backdrop, Mary Ellen Iskenderian of Women's World Banking decided to jump in to help. Women's World Banking has focused much of its research on Ukrainian refugees, in particular, since they have overwhelmingly been women and their dependents, given the country's conscription requirements. "There's a tremendous opportunity with blockchain, finance, and digital ID," Iskenderian said. The World Bank estimates that 850 million people globally don't have proof of legal identity — that is, no birth certificate, passport, driver's license, or national ID. World Bank survey data has found that in low-income countries, 44% of women do not have an ID, versus 28% of men.

Persons: Mary Ellen Iskenderian, We've, Iskenderian Organizations: Banking, Bank, CNBC Locations: Ukraine, Ukrainian, masse

☆ OpenAI former safety leader Jan Leike joins rival AI startup Anthropic
▼ + stars: | 2024-05-28 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

Jan Leike, one of the lead safety researchers at OpenAI who resigned from the artificial intelligence company earlier this month, said on Tuesday that he's joined rival AI startup Anthropic. Leike announced his resignation from OpenAI on May 15, days before the company dissolved the superalignment group that he co-led. "I'm excited to join @AnthropicAI to continue the superalignment mission," Leike wrote on X. AI safety has gained rapid importance across the tech sector since OpenAI introduced ChatGPT in late 2022, ushering in a boom in generative AI products and investments. The committee will recommend "safety and security decisions for OpenAI projects and operations" to the company's board.

Persons: Jan Leike, he's, Leike, OpenAI, Ilya Sutskever, @AnthropicAI, Sam Altman, Dario Amodei, Daniela Amodei, Claude Organizations: OpenAI, Amazon, Microsoft, Google Locations: OpenAI

☆ FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison
▼ + stars: | 2024-05-28 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

Ryan Salame, a former top lieutenant of FTX founder Sam Bankman-Fried, has been sentenced to 90 months, or seven and a half years, in prison, followed by three years of supervised release. In September, Salame pleaded guilty to conspiracy to make unlawful political contributions, defraud the Federal Election Commission, and conspiracy to operate an unlicensed money-transmitting business. Judge Lewis Kaplan sentenced Sam Bankman-Fried to 25 years in prison in March. Salame spent millions of dollars on real estate and campaign donations during his tenure. Meanwhile, data from the Federal Election Commission shows that Salame gave more than $24 million to Republican candidates and causes in the 2022 election cycle.

Persons: Ryan Salame, Sam Bankman, Salame, Judge Lewis Kaplan Organizations: FTX Digital Markets, Commission, Alameda Research, FTX's, FTX, New Providence, Federal, Republican Locations: New York, Bankman, New, U.S

☆ Melinda French Gates’s Philanthropy Will Include Abortion Rights - The New York Times
▼ + stars: | 2024-05-28 | by ( Melinda French Gates | ) www.nytimes.com time to read: +1 min

That’s why, next week, I will leave the Bill & Melinda Gates Foundation, of which I was a co-founder almost 25 years ago, to open a new chapter in my philanthropy. The second the global agenda gets crowded, women and girls fall off. Decades of research on economics, well-being and governance make it clear that investing in women and girls benefits everyone. We know that economies with women’s full participation have more room to grow. That reducing the time women spend in poor health could add as much as $1 trillion to the global economy by 2040.

Persons: ” I’ve, Melinda Gates, it’s Organizations: Melinda Gates Foundation Locations: United States

☆ Musk’s A.I. Firm Raises $6 Billion in Race With Rivals
▼ + stars: | 2024-05-27 | by ( Jason Karaian | More About Jason Karaian | ) www.nytimes.com time to read: +1 min

Elon Musk’s artificial intelligence company, xAI, said on Sunday that it has raised $6 billion, helping to close the funding gap with OpenAI, Anthropic and other rivals in the red-hot industry. Mr. Musk, who founded xAI in July, said in a social media post the funding round valued the company at $18 billion, not including the new money. Investors included the Silicon Valley heavyweights Andreessen Horowitz and Sequoia Capital, along with Saudi Arabia’s Prince Alwaleed bin Talal. Investors and large tech companies like Google, Meta and Microsoft have poured billions into the businesses developing A.I. systems, which require huge amounts of processing power to generate text, sounds and images.

Persons: Musk, Andreessen Horowitz, Prince Alwaleed bin Talal Organizations: Elon, xAI, Sequoia Capital, Saudi, Investors, Google, Meta, Microsoft

☆ Ozempic doesn't make everyone thin. That opens up an opportunity for some stocks
▼ + stars: | 2024-05-27 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +7 min

Or, in other cases, it can open the door to new options for the treatment of obstructive sleep apnea. Treating obesity and addressing sleep apnea Sleep apnea is a serious sleep disorder that results in interrupted breathing, preventing patients — and even their sleeping partners — from getting restful and restorative sleep. Obstructive sleep apnea, the most common form, occurs when muscles in the throat relax and collapse preventing air flow. Before qualifying for the device, patients usually need to have tried treatment with a CPAP machine and an oral device and been unsuccessful. He downgraded Inspire shares to hold at the beginning of the year due to this uncertainty he was anticipating.

Persons: Eli Lilly's Zepbound, Anthony Petrone, Medical's, Eli Lilly, Tim Herbert, Zepbound, Herbert, FactSet, Petrone, UnitedHealth, Jonathan Block Organizations: Novo Nordisk's, Mizuho Securities, CNBC, Systems, Inspire, American Diabetes Association, Drug Administration, National Institutes of Health, BMI Locations: U.S

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