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☆ Why are luxury brands waging war on the ‘upcycled’ clothing market?
▼ + stars: | 2024-05-13 | by ( Sarah Kent | ) edition.cnn.com time to read: +10 min

Editor’s Note: This article was originally published by The Business of Fashion, an editorial partner of CNN Style. The design was upcycled from vintage Chanel scarves by stylist Logan Horne, whose brand, J. Logan Home, specializes in refashioning heritage luxury accessories. Fashion brands' legal claims are varied but ultimately boil down to concerns that third parties are free-riding on brands’ valuable IP in ways that could risk confusing consumers, eroding primary sales and tarnishing or diluting carefully cultivated marks. Some big brands, like Prada, Gucci and indeed Levi’s, have already dabbled with upcycling collections and programs of their own. These days, she says she’s having about a conversation a week with brands interested in exploring collaboration, but the industry moves slowly.

Persons: Travis Kelce, Logan Horne, Logan, Webster, They’ve, Chanel, Horne, ”, Susan Scafidi, J, Logan Home’s, Christian Vierig, Louis Vuitton, Levi’s, Jeremy Moeller, Irene Calboli, ” Chanel, des, Batsheva Hay, Monica Schipper, “, Hay, upcycling, I’m, Prada, Gucci, Anna Foster, Gabriela Hearst Organizations: The, Fashion, CNN, NFL, Dua, Law, Paris Fashion, Business of, “, Getty, Logan Home, Texas, M University, Fashion Trust, Business of Fashion, Industry Locations: New York, Texas, Beverly Hills , California, India, Europe

“It was Michael Cohen,” Davidson responded. Cohen is the only witness who will testify about Trump’s alleged involvement in both the decision to pay Daniels and the plan to reimburse Cohen for advancing the money. Prosecutors allege that during the February meeting, Trump and Cohen agreed how Cohen would be paid back. Arguably the most negative assessment of Cohen came from Davidson, who negotiated the hush money deal with Cohen on Daniels’ behalf in 2016. “There were times where Mr. Cohen did things that you felt were not helpful to what you were trying to accomplish, right?” Bove asked Trump’s 2016 campaign press secretary.

Persons: Michael Cohen, Donald Trump’s, Cohen, Stormy Daniels, David Pecker, Hope Hicks, “, Daniels, Keith Davidson, Daniels ’, Gina Rodriguez –, “ Gina, Keith, ’ ” Davidson, ”, Joshua Steinglass, ” Davidson, Trump, Trump’s, Pecker, ” Steinglass, Todd Blanche, Elie Honig, Cohen’s, antagonizing Trump, Juan Merchan, Merchan, Cohen ’, Emil Bove, ” Pecker, Bove, Gary Farro, ” Farro, Davidson, ” Cohen, Christ, I’m, I’ve, ’ ”, Jeff McConney, ” McConney, Matthew Colangelo, Hicks, –, ” Bove, ” Hicks Organizations: CNN, Trump, National Enquirer, American Media Inc, Prosecutors, Office, Daniels, Trump Organization Locations: Manhattan, Trump’s New York, Moscow, thedirty.com, Washington

☆ Amazon hired an ex-Trader Joe's employee to access company secrets and replicate products from the grocer: WSJ
▼ + stars: | 2024-04-15 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

According to the Journal, Amazon appeared to have a model it wanted to replicate for Wickedly Prime: Trader Joe's. AdvertisementAccording to the report, Amazon wanted to replicate the top 200 items sold at Trader Joe's. The Amazon manager also pressed the ex-Trader Joe's employee for data on the margins for each product. The former Trader Joe's employee's experience gives an inside look at Amazon's broader, aggressive efforts to compete with other grocers. Trader Joe's established a cult following with its customers partly by developing snacks and foods through its private label.

Persons: —, Joe's, Nakia Rohde Organizations: Service, Street Journal, Amazon, Business, Wickedly Prime, The, Foods

☆ Microsoft begins blocking some terms that caused its AI tool to create violent, sexual images
▼ + stars: | 2024-03-08 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

The AI tool now also blocks requests to generate images of teenagers or kids playing assassins with assault rifles — a marked change from earlier this week — stating, "I'm sorry but I cannot generate such an image. There is also a warning about multiple policy violations leading to suspension from the tool, which CNBC had not encountered before Friday. Microsoft has started to make changes to its Copilot artificial intelligence tool after a staff AI engineer wrote to the Federal Trade Commission Wednesday regarding his concerns about Copilot's image-generation AI. Shane Jones, the AI engineering lead at Microsoft who initially raised concerns about the AI, has spent months testing Copilot Designer, the AI image generator that Microsoft debuted in March 2023, powered by OpenAI's technology. All of those scenes, generated in the past three months, were recreated by CNBC this week using the Copilot tool, originally called Bing Image Creator.

Persons: Shane Jones, OpenAI's DALL, Jones, lacy, Elsa, Lina Khan Organizations: CNBC, Microsoft, Federal Trade, Disney, Palestinian, Israeli Defense Forces, Commerce, Science, Transportation, FTC Locations: Gaza

☆ Microsoft engineer warns company's AI tool creates violent, sexual images, ignores copyrights
▼ + stars: | 2024-03-06 | by ( Hayden Field | ) www.cnbc.com time to read: +11 min

Jones was noodling with Copilot Designer, the AI image generator that Microsoft debuted in March 2023, powered by OpenAI's technology. "It was an eye-opening moment," Jones, who continues to test the image generator, told CNBC in an interview. watch nowMicrosoft's legal department told Jones to remove his post immediately, he said, and he complied. Jones said the risk "has been known by Microsoft and OpenAI prior to the public release of the AI model last October." "I am certainly convinced that this is not just a copyright character guardrail that's failing, but there's a more substantial guardrail that's failing," Jones told CNBC.

Persons: Jakub Porzycki, Shane Jones, Jones, OpenAI's DALL, Lina Khan, Khan, deepfakes, he's, Satya Nadella, Sam Altman, Justin Sullivan, Darth Vader, Elsa, Mickey Mouse, guardrail that's Organizations: Microsoft, Nurphoto, Copilot, CNBC, Commerce, Science, Transportation, Federal Trade, Google, Getty, pitchfork, Disney, Wars, Palestinian, Israel Defense Forces Locations: Krakow, Poland, Redmond , Washington, San Francisco, hoodies, Gaza

☆ Microsoft AI employee warns FTC the company’s Copilot Designer AI tool is prone to creating harmful images
▼ + stars: | 2024-03-06 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

Shane Jones, a Microsoft principal software engineering lead, claimed that the company’s AI text-to-image generator Copilot Designer has “systemic issues” that cause it to frequently produce potentially offensive or inappropriate images, including sexualized images of women. He said he spent months testing Microsoft’s tool — as well as OpenAI’s DALL-E 3, the technology that Microsoft’s Copilot Designer is built on — and attempted to raise concerns internally before he alerted the FTC. He said he found more than 200 examples of “concerning images” created by Copilot Designer. Jones’ letter comes amid growing concerns that AI image generators — which are increasingly capable of producing convincing, photorealistic images — can cause harm by spreading offensive or misleading images. In his letter to Microsoft’s board of directors, Jones called on the company to take similar action.

Persons: Shane Jones, Jones, ” Jones, Lina Khan, “, OpenAI’s DALL, Microsoft “, OpenAI, Jones ’, Taylor Swift, Gemini, Bob Ferguson Organizations: New, New York CNN, Microsoft, US Federal Trade Commission, FTC, Copilot, Google, Washington, US, Commerce, Science, Transportation Locations: New York, United States, White

☆ Your company knows you’re reading this story at work
▼ + stars: | 2024-03-04 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

But experts say that while AI tools might be new, watching, reading and tracking employee conversations is far from novel. A Chevron spokesperson told CNN the company is using Aware to help monitor public comments and interactions on its internal Workplace platform, where employees can post updates and comments. Cybersecurity company Proofpoint uses similar technology to help monitor cyber risks, such as incoming phishing scams or if an employee is downloading and sending sensitive work data to their personal email account. This would prevent employees from not sharing sensitive company data with an AI model, which could resurface in future responses. Even when employees are not on a secure work network, companies are able to monitor activity through browsers.

Persons: ”, David Johnson, “, Johnson, Slack, Reece Hayden, ” Hayden, Hayden Organizations: CNN, Walmart, Starbucks, Chevron, Forrester Research, Microsoft, Warner Brothers Discovery, Fortune, ABI Research, Meta Locations: Delta

☆ Gig workers explain how they got their accounts reactivated on Instacart and Uber Eats
▼ + stars: | 2024-02-16 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Gig workers often have their accounts deactivated, even if they've done nothing wrong. Here are the top tips for getting reactivated from people who deliver for Instacart and Uber Eats. But some gig workers have had success getting their accounts — and an income — back. Business Insider spoke with two gig workers who successfully got apps to overturn their deactivations. AdvertisementDo you work for Instacart, Uber Eats, DoorDash, or another gig delivery service?

Persons: Uber, —, Instacart, could've Organizations: Service, Walmart, Companies, Business, Trust, Safety, Instacart Locations: South Dakota, Instacart, Oregon

☆ Trump is fighting back after a court monitor report that suggested he evaded taxes
▼ + stars: | 2024-01-30 | by ( Hannah Getahun | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

A letter from Donald Trump's court monitor in his fraud trial suggests he lied about a $48 million loan. The team also provided a memo from the Trump Org's legal department stating that the loan was paid off. AdvertisementDonald Trump is fighting back after a court monitor's footnote indicated that the former president may have committed tax fraud. The Daily Beast first reported on Sunday the note from Jones is a clue Trump used a fake $48 million loan as a vessel to avoid paying income taxes. Advertisement"It would appear, assuming Judge Jones' letter is accurate, that this amounts to tax evasion," Martin Lobel, a tax lawyer, told The Daily Beast.

Persons: Donald Trump's, —, Donald Trump, Barbara Jones, Arthur Engoron, Donald J, Trump, Jones, Judge Jones, Martin Lobel, Clifford S, Robert, Christopher Kise, , Jason Flemmons, Kise Organizations: Trump, Service, Trump Organization, Manhattan Supreme, Chicago, Daily Beast, Daily, Business, Government, Trump Org, Mezz Venture

☆ This startup wants to be the leading clean energy provider to businesses. Check out the 12-slide pitch deck Reel used to raise $5.4 million.
▼ + stars: | 2024-01-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Businesses can currently purchase certificates or credits to say they have used renewable energy, representing the output from a renewable energy project that's already supplying the grid. The startup's platform aggregates smaller companies' energy demands so they can sign PPAs, which locks in a fixed price. It will also expand into new European markets and grow its 15-strong team across tech, energy, commercial, and operations. With its eye on becoming the leading B2B energy provider, the startup plans to build energy storage and demand response capabilities down the line.

Persons: —, David, Jon Sigvert, Sigvert, Daniel Nathan Organizations: Service, Business, Energy, International Energy Agency . Companies, Fortune, UVC Partners, Firm Locations: Copenhagen, Ukraine, Finland

☆ Microsoft says Russian hackers attacked it to find information about themselves
▼ + stars: | 2024-01-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Microsoft said on Friday that its security systems were breached by a Russian hacking group. Microsoft identified the group as Midnight Blizzard, which was behind the SolarWinds cyberattack. AdvertisementMicrosoft said Friday that its systems were breached by Russian hackers who accessed a "very small percentage" of corporate email accounts. The attack was launched by Midnight Blizzard — the seasoned Russian hacking group behind the massive 2020 attack on US information technology firm SolarWinds, which exposed sensitive information in the US federal government. But federal investigators said they found evidence the hackers accessed Microsoft Office 365.

Persons: — Organizations: Microsoft, Midnight, Service, Midnight Blizzard, Initiative Locations: Russian, China

☆ Microsoft says Russian hacking group accessed email accounts of senior leaders
▼ + stars: | 2024-01-19 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —A Russian hacking group gained access to some email accounts of Microsoft senior leaders, the software giant disclosed in a regulatory filing Friday afternoon. “Microsoft has identified the threat actor as Midnight Blizzard, the Russian state-sponsored actor also known as Nobelium.”Nobelium, notably, is the same group responsible for the infamous SolarWinds breach back in 2020. Microsoft said it is in the process of notifying employees whose email was accessed. There is currently no evidence that the hackers had any access to customer environments or AI systems, Microsoft said. Microsoft systems have been the target of multiple recent high-profile hacking efforts.

Persons: ” Nobelium, SolarWinds, — Organizations: CNN, Microsoft, Midnight Blizzard, Hackers, Midnight, Federal Bureau of Investigation, Infrastructure Security Agency Locations: Russian

☆ New York City Major Eric Adams named as defendant under state’s Adult Survivor Act
▼ + stars: | 2023-11-23 | by ( Nicki Brown | ) edition.cnn.com time to read: +2 min

CNN —New York City Mayor Eric Adams has been accused of a 1993 sexual assault under a New York law that’s set to expire this week, according to a court document filed Wednesday. The “plaintiff was sexually assaulted by Defendant Eric Adams in New York, New York in 1993 while they both worked for the City of New York,” according to a summons filed in New York County Supreme Court. But he would never do anything to physically harm another person and vigorously denies any such claim.”The three-page summons also lists the City of New York, the New York Police Department’s Transit Bureau and the New York City Police Department Guardians Association as defendants. The claims are being brought under New York’s Adult Survivors Act, which is set to expire after Thanksgiving. The city’s legal department and the NYPD referred CNN to City Hall.

Persons: Eric Adams, that’s, “ Organizations: CNN, New, New York City, City, New York Police Department’s Transit, New York City Police Department Guardians Association, NYPD, City Hall, Guardians Association Locations: New York, York, New York , New York, City of New York, New York County, ”, of New York

☆ Inflection AI's Mustafa Suleyman tells OpenAI staff 'come run with us' after 'utterly insane' weekend
▼ + stars: | 2023-11-21 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Mustafa Suleyman told OpenAI staff "come run with us" after a "utterly insane" weekend. The Inflection AI cofounder and CEO used an X post to promote his own firm and its progress. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe cofounder of Inflection AI weighed in on the "utterly insane" weekend experienced by its rival OpenAI and told workers to "come run with us." It's now the 2nd best LLM in the world ... & we're scaling MUCH further," Suleyman said in an X post .

Persons: Mustafa Suleyman, OpenAI, —, who's, It's, Suleyman, — Mustafa Suleyman, @mustafasuleyman, OpenAI's ChatGPT, Sam Altman, reinstates Altman, Kelsey Laymon, Marc Benioff, Eric Schmidt, Bill Gates, Reid Hoffman, DeepMind Organizations: Service, Microsoft, Nvidia, Forbes, TechCrunch, Paypal, Google, Business

An Alabama police chief said he believes department policies were violated when officers shot and killed a man during a dispute with a tow truck driver, but did not elaborate on what those policies were. Decatur Police Chief Todd Pinion wrote in a statement Friday that the department has completed an internal investigation into the Sept. 29 shooting of Steve Perkins. The fatal shooting of the Black man in front of his own home has drawn regular protests in the north Alabama city. Perkins, 39, was killed by a police officer as officers accompanied a tow truck driver trying to repossess Perkins’ truck. Police said that the man, identified as Perkins, later threatened the driver and “turned the gun toward one of the officers.” Perkins' family has disputed the police version of events.

Persons: Todd, Steve Perkins, repossess Perkins, Perkins, “, ” Perkins, WAFF, Perkins ’, Nick Perkins, We’ve Organizations: Alabama, Decatur Police, Decatur Police Department, Police, Legal Department, “ Police, Associated Press, Agency, Decatur Locations: Alabama, Perkins

Authorities have not disclosed any of Hale's journals or writings that were collected after the March 27 shooting at the Covenant School in Nashville. Police then reversed course, saying that because of the lawsuits they would await the direction of the court on whether to release Hale’s writings. “I am deeply concerned with the safety, security, and well-being of the Covenant families and all Nashvillians who are grieving," O’Connell said. Attorneys representing families with the Covenant School have repeatedly said they have not seen Hale's writings. Authorities’ refusal to release Hale’s writings has fueled further speculation and conspiracy theories about what they might reveal about Hale’s motive or influences.

Persons: Freddie O'Connell, Steven Crowder, Audrey Hale's, MNPD, O’Connell, Wally Dietz, Brent Leatherwood, Crowder, Leatherwood, it’s, Hale, haven’t, Evelyn Dieckhaus, Hallie Scruggs, William Kinney, Katherine Koonce, Mike Hill, Cynthia Peak, Adrian Sainz Organizations: Nashville, Metro Nashville Police Department, Tennessee Bureau of, Covenant School, Police, Covenant, Associated Press, AP, Authorities Locations: Tenn, Nashville, Tennessee, Memphis , Tennessee

☆ What to know about Donald Trump Jr.’s expected fraud trial testimony
▼ + stars: | 2023-11-01 | by ( Lauren Del Valle | ) edition.cnn.com time to read: +3 min

New York CNN —Donald Trump’s eldest son, Don Jr., is expected to begin testifying in the civil fraud trial against the family and their business on Wednesday. In a deposition taken last year, Trump Jr. distanced himself from the financial statements Judge Arthur Engoron has already ruled to be fraudulent in a summary judgment before the trial began. “I had no real involvement in the preparation of the Statement of Financial Condition and don’t really remember ever working on it with anyone,” Trump Jr. said. Donald Trump Jr. has worked in commercial leasing for the Trump Org., including the company’s 40 Wall Street property at issue in the lawsuit. Trump Jr. became a trustee of his father’s revocable trust when he took office and certified the statements of financial condition in 2017, 2018 and 2019.

Persons: New York CNN — Donald Trump’s, Don Jr, Donald Trump Jr, Trump, Eric, Arthur Engoron, “, ” Trump, ”, Eric Trump, Ivanka Trump, Letitia James Organizations: New, New York CNN, Trump Jr, “, Trump, Trump Org, New York Locations: New York, Seven, Briarcliff, New

Kevin Hodges, a partner at law firm Williams & Connolly, was the first member of Amazon's defense team identified in a court document in the case. Amazon General Counsel David Zapolsky, a 24-year veteran of the company's legal department, can turn to a stable of top outside law firms that already represent it. Thomas Barnett, co-chair of the firm’s antitrust practice and a former senior Justice Department official, was involved in the effort. A Covington spokesperson did not respond to a request for comment on whether the firm is defending Amazon in the FTC antitrust case. Amazon has also turned to U.S. law firm Paul, Weiss, Rifkind, Wharton & Garrison to navigate government scrutiny.

Persons: Jim Vondruska, Kevin Hodges, Williams, Connolly, Hodges, John Schmidtlein, David Zapolsky, Lina Khan, Thomas Barnett, Covington, Paul, Weiss, Garrison, Paul Weiss, Andrew Goudsward, Mike Scarcella, David Bario, Matthew Lewis Organizations: Amazon Logistics, REUTERS, U.S . Federal Trade, Amazon.com, Amazon, Williams, U.S . Justice, Microsoft, BP, Big Tech, Alphabet's, Google, FTC, Burling, Department, D.C, Covington, Thomson Locations: Chicago . Illinois, U.S, WASHINGTON, Washington, Mexico, Covington, Rifkind, Wharton

☆ US sanctions authority delayed KFC's Russia exit -franchise owner
▼ + stars: | 2023-09-25 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +3 min

It's OFAC office issued compliance guidance to the industry regarding the exit tax in the form of FAQs, or frequently asked questions, on Feb. 24, 2023, while negotiations on KFC's exit deal were still ongoing. The deal included all its Russian KFC restaurants, operating system and the trademark for the Rostic's brand. Once the buyers were approved, taking this new requirement into account, another one appeared - the budget contribution termed an "exit tax" by Washington - Levin said. "The closure was delayed again, the correct procedure on paying the exit tax was agreed," Levin said. Former KFC restaurants began opening in April as Rostic's, reviving a brand born soon after the collapse of the Soviet Union.

Persons: Maxim, Sergei Levin, Levin, McDonald's, It's, Konstantin Kotov, Andrey Oskolkov, Elena Fabrichnaya, Alexander Marrow, Matt Scuffham, Timothy Gardner Organizations: Brands Inc, KFC, REUTERS, U.S . Office, Foreign Assets Control, Brands, Treasury, Smart Service, Russian KFC, Washington, Soviet Union, Rostic's, Thomson Locations: Russia, Moscow, Ukraine MOSCOW, U.S, Unirest, KFC's U.S, Ukraine, Russian, Soviet

☆ Jennifer Williams-Alvarez — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-12 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: 1 min

Jennifer Williams-AlvarezJennifer Williams-Alvarez is a reporter on The Wall Street Journal’s CFO Journal team. Based in New York, she writes about auditing, pensions and corporate finance and governance. Before joining the Journal, she covered public company boards at Agenda, a Financial Times publication. She was previously a reporter at American Lawyer Media’s Corporate Counsel, covering in-house legal departments. Jennifer has been a journalist covering corporate news for 10 years, since she graduated from New York Law School.

Persons: Jennifer Williams, Alvarez Jennifer Williams, Alvarez, Media’s, Jennifer Organizations: Financial Times, New York Law School, M University Locations: New York, Texas

☆ A Texas judge has declared unconstitutional a law championed by Gov. Greg Abbott that limits the power of Democrat-led cities
▼ + stars: | 2023-08-30 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +3 min

A Texas judge declared a law that prevented cities from passing some local ordinances unconstitutional. Greg Abbott, a Republican, signed a bill into law in June that prohibited cities from passing certain local ordinances. "I am thrilled that Houston, our legal department, and sister cities were able to obtain this victory for Texas cities," Houston Mayor Sylvester Turner wrote in a statement. "While the judge declared HB 2127 unconstitutional, she did not enjoin enforcement of the law by Texans who are harmed by local ordinances, which HB 2127 preempts," Willey wrote to Insider. "This is a HUGE win for the working people of Texas, local govs, and communities across our state," the Texas AFL-CIO posted in response to the decision.

Persons: Greg Abbott, Maya Guerra Gamble, Sylvester Turner, Gamble's, Paige Willey, Willey Organizations: Republican Gov, Democrat, Service, Republican, Houston, Legislature, Texans, Texas AFL Locations: Texas, Wall, Silicon, Houston

A screengrab from the website of U.S. company Extreme Networks shows Russian manager Sergey Gusakov. The IT equipment sold in Russia by Gusakov's company Vektor-T is assembled in China and contains U.S. microprocessors, according to the people familiar with the matter and photographs seen by Reuters. "These violations will lead to a heavy strike to the reputation of the Extreme company against the background of the war in Ukraine," the complaint said. The photographs obtained by Reuters of the insides of switches sold by DCN and Vektor-T clearly show one of each. "The U.S. technology proportion of DCN products is very small," he said.

Persons: Sergey Gusakov, Gusakov, haven't, Sergey Gusakov’s, spokespeople, DCN, Marvell, Lattice, David Gauthier, Aram Roston, Daniel Flynn Organizations: Marvell Technology Inc, Lattice Semiconductor Corp, Reuters, Handout, REUTERS, Extreme Networks Inc, U.S ., Extreme Networks, Extreme, CIS, China Information Technology Ltd, Marvell, Lattice, U.S, Thomson Locations: China, U.S, Russia, Ukraine, Soviet, Moscow, Gusakov, Kazakhstan, Russian, Oryol, Wilmington , DE, Hillsboro, Villars, Istanbul, Washington

☆ Thomson Reuters to acquire legal AI firm Casetext for $650 mln
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Thomson Reuters (TRI.TO) said on Monday it had agreed to acquire Casetext, a legal startup with an artificial intelligence-powered assistant for law professionals, in a $650 million all-cash deal. One of Casetext's key products is CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes, Thomson Reuters said in a statement. California-based Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments. The acquisition of Casetext is another step towards bringing generative AI solutions to customers, said Steve Hasker, president and CEO of Thomson Reuters. Generative AI is a type of artificial intelligence that generates new content or data in response to a prompt, or question, by a user.

Persons: Thomson, Michael Eastwood, Casetext, Steve Hasker, Bharat Govind Gautam, Rashmi Organizations: Thomson Reuters, Thomson Locations: California, Casetext, Bengaluru

☆ Thomson Reuters to acquire legal tech provider Casetext for $650 mln
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Thomson Reuters Corporation (TRI.TO) said on Monday it had agreed to acquire Casetext, a California-based company that provides technology solutions for legal professionals, in a $650 million all-cash deal. Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments, Thomson Reuters said on Monday. The acquisition of Casetext is another step towards bringing generative AI solutions to customers, said Steve Hasker, president and CEO of Thomson Reuters. Casetext was granted early access to OpenAI's GPT-4 large language model, allowing it to develop solutions with the new technology and refine use cases for legal professionals. Reporting by Bharat Govind Gautam in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomson, Michael Eastwood, Casetext, Steve Hasker, Bharat Govind Gautam, Rashmi Organizations: Thomson Reuters Corporation, Thomson Reuters, Thomson Locations: California, Casetext, Bengaluru

☆ Dimon may have ordered JPMorgan's review of Epstein ties, Virgin Islands says
▼ + stars: | 2023-06-20 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

NEW YORK, June 20 (Reuters) - JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon may have ordered a 2019 review of the bank's relationship with the late financier and sex offender Jeffrey Epstein, the U.S. Virgin Islands said. The U.S. Virgin Islands lawsuit is scheduled for an Oct. 23 trial in Manhattan federal court. It referred to a 22-page summary of emails primarily between and among Epstein, Staley and others. A spokesperson for the Virgin Islands said the bank's senior executives "ignored the evidence of Jeffrey Epstein's crimes." JPMorgan is suing Staley to cover its losses in the U.S. Virgin Islands' and Epstein victims' lawsuits.

Persons: JPMorgan Chase, Jamie Dimon, Jeffrey Epstein, Epstein, Jes Staley, Dimon, Staley, Jed Rakoff, Lehman Brothers, Jeffrey Epstein's, Luc Cohen, Nupur Anand, Matthew Lewis Organizations: YORK, JPMorgan, U.S . Virgin, Jeep, Virgin Islands, Barclays, Thomson Locations: U.S, Manhattan, U.S . Virgin Islands, Florida, New York

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