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HarbourVest Global Private Equity , a diversified listed private equity investment company, could see its share price rise by more than 40%, according to analysts at investment banks Peel Hunt and Jefferies. Richard Hickman, the managing director of HVPE, describes it as the "most diversified, listed private equity investment company in London." "We're a global fully diversified portfolio covering buyout funds, the more established businesses from small cap through medium to large cap." NAV represents the value of an investment fund's assets per share. They estimate that share buybacks at the current discount could result in a 1.4% uplift in net asset value per share.
Persons: Peel Hunt, Jefferies, Richard Hickman, HVPE, Hickman, Alan Brierley, Ben Newell, Warren, Buffett Organizations: HarbourVest Global, Equity, Peel, London Stock Exchange, CNBC, NAV, Jefferies, Investec Locations: London
The thought of no longer existing is too painful and grim for many to bear and is frequently avoided, but one psychology expert thinks people need to face their fear of death head-on to live more fulfilling lives. "Most people like to count their money and I like to say how about we also count our Mondays?" This serves as a reminder of the scarcity of time, pushing people to take action in their lives. When you remember how many days you have left, you're more likely to book that tennis lesson. "If you were going to die tonight what would you wish you had taken action on?
Persons: Jodi Wellman, Wellman Organizations: CNBC, University of Pennsylvania
Microsoft is partnering with tutoring organization Khan Academy to provide a generative AI assistant to all teachers in the U.S. for free. Khanmigo for Teachers, which helps teachers prepare lessons for class, is free to all educators in the U.S. as of Tuesday, with the financial support of Microsoft. Microsoft and Khan Academy are also planning to provide more AI-powered math tutoring to students through a new open-source small language model from Microsoft's Phi-3 AI technology. The relationship between the tech giant and education nonprofit will also feed back into Microsoft's Copilot AI, with more Khan Academy content added, and Khan content brought into Microsoft Teams for Education, an existing free communication app for students and teachers. Microsoft co-founder Bill Gates recently recommended Khan's new book on AI in education.
Persons: Sal Khan, Sam Altman, Greg Brockman, zeroed, Khan, Nadia, Alan Turing's, Khanmigo, Bill Gates, Gates Organizations: Microsoft, Academy, Khan Academy, CNBC, Khan, CNBC's Technology, Phi, Microsoft Teams, Education Locations: U.S
And based on the internal math of the show, George Jetson, the dad, was born in 2022. There were a lot of future-trippers in the 1960s, and most of them would be pretty disappointed by how that future turned out. I’ve been spending a lot of time studying that decade in my work, trying to understand why America is so bad at building today. So Pethokoukis and I are asking similar questions and circling the same period, but from very different ideological vantages. “The two screamingly obvious things that we stopped doing is we stopped spending on science, research and development the way we did in the 1960s,” he tells me, “and we began to regulate our economy as if regulation would have no impact on innovation.”
Persons: , George Jetson, He’d, I’ve, James Pethokoukis, , Ezra Klein Organizations: Apple, Spotify, Amazon Music, YouTube, American Enterprise Institute, Conservative Locations: America
If you subscribe to Netflix's cheapest plan, and also get Peacock's cheapest plan, and also get Apple TV+, it will cost you $23 a month. So Peacock and Apple would benefit more from being in a bundle with Netflix, so they are more likely to discount their rates to make the bundle work. Digital distributors like Apple have made it very easy for subscribers to turn their streaming subscriptions on and off. Netflix, Comcast, and Apple all declined to comment about bundle economics. AdvertisementSo maybe all streaming subscriptions aren't equal.
Persons: it's, Ted Sarandos, I've Organizations: Service, Apple, Comcast, Business, Netflix, Verizon, Disney
This story is available exclusively to Business Insider subscribers. But PayPal went beyond just shutting down her account. Each jar of bathwater Delphine sold counted as a violation. A PayPal spokesperson said they could not comment on individual accounts but told Business Insider that PayPal dropped its policy on the $2,500 fines about a year ago. Advertisement"If I didn't have any [social media] following, they wouldn't have given my money back," Delphine contended to Business Insider.
Persons: , Belle Delphine, Delphine Organizations: Service, Business, PayPal
The Upshot last week updated one of its earliest and most popular projects: the Rent or Buy calculator. The new calculator takes into account the 2017 tax law that affected the mortgage-interest deduction and limited SALT deductions. Because our math takes into account the full cycle of owning — buying, annual costs and then selling — home price appreciation can vastly change your results. The same house might look like a great financial decision at 8 percent housing value growth, and a bad one at 4 percent. Give the calculator a whirl here, and take note that you can now save and share your results.
The Joint Program Office declined to comment to Military.com regarding the restriction. A spokesperson for the Marine Corps could not provide details on the restriction but said efforts are underway to return the aircraft to full operations. Pedro Caballero, a spokesperson for the Marine Corps, told Military.com when asked whether the restrictions applied to its roughly 350 Ospreys, the vast majority of the military's fleet. US Marine Corps MV-22B Ospreys take off at Port Darwin in Australia. An MV-22B Osprey conducts an external lift with US Marines during helicopter support team training at Marine Corps Air Station in Miramar, California.
Persons: , Military.com, Beth Teach, Cpl, Juan Torres, Capt, Pedro Caballero, Caballero, Colton Martin Lt, Rebecca Heyse, Amelia Kang, Brian Taylor, Taylor, Juan Paz Taylor Organizations: Service, Force, Marine Corps, Ospreys, Business, Navy, Naval Air Forces, Office, Naval Air Systems Command, Royal Australian Air Force Base, US Marine Corps, Corps, Port Darwin, Air Force Special Operations Command, Greyhound, House Armed Services, US Marines, Marine Corps Air, Services, Aviation, Air Force, Marines, Program Office, Marine, US Air National Guard, Staff Locations: Japan, Port, Australia, Miramar , California, Darwin, Washington ,, Lemonnier, Djibouti
Read previewWelcome to People's Exhibit 35, the single most important piece of evidence in the Donald Trump hush-money trial. People's 35 is the fulcrum for the entire case. What People's 35 does not have is Trump's fingerprints, a point that the defense is sure to press during closing arguments next week. AdvertisementProsecutors allege that Trump's payments to Cohen were falsified to conceal hush money paid to adult film star Stormy Daniels. "Yes," Cohen answered, as Trump watched from the defense table"And what, if anything, did Mr. Trump say at the time?"
Persons: , Donald Trump, Trump, Michael Cohen, Cohen, Stormy Daniels, we'll, Allen Weisselberg, Weisselberg, Cohen —, Reince, Jon Elswick, Susan Hoffinger, Daniels, Hoffinger, Todd Blanche, — Cohen, Keith Davidson, Davidson, Karen McDougal, Playboy Bunny, Trump's, Melania Trump, peddled, Charlie Sheen, Hulk Hogan, Lindsay Lohan, Tila, RedFinch, That's Allen Weisselberg's, Allen, — it's, Trump —, Mary Altaffer Organizations: Service, Business, Attorney's, Trump Organization, Trump, Prosecutors, AP, Manhattan, BI Prosecutors, Essential, Consultants, Tahoe, National Enquirer, RedFinch Solutions, RedFinch, People's, frick Locations: Manhattan, Virginia
His latest recommendation comes from the world of artificial intelligence — specifically, how the fast-advancing technology might improve the quality of education students receive around the world. The Microsoft co-founder recently took to social media to tout "Brave New Words: How AI Will Revolutionize Education (And Why That's a Good Thing)," which published last week. The book was written by Sal Khan, the founder and CEO of education nonprofit Khan Academy — which is developing an experimental AI chatbot tutor called Khanmigo. "If you're passionate about education, you need to read this book," Gates wrote on social media platform X. AI tutoring could help "close the education gap" with direct help for low-income students even in developing countries, Gates noted last year on his "Unconfuse Me" podcast, in an episode featuring Khan.
Persons: Bill Gates, Sal Khan, Gates, Sal, Khan, Khanmigo —, Melinda Gates, Tovah Klein Organizations: Microsoft, Khan Academy, Melinda Gates Foundation, Barnard College, CNBC
Senate Democrats (including independents who caucus with them) hold 23 seats up for election this year; Republicans hold 11. Positive signs for DemocratsBut is the race for the Senate really over if Republicans just win West Virginia? Democratic Senate candidates seem to be at least tied or ahead in Arizona, Michigan, Montana, Nevada, Ohio, Pennsylvania and Wisconsin. Of course, Democratic Senate candidates outrunning the top of the ticket is nothing new. For Democrats to have any chance of holding the Senate, Republicans would have to lose all these Senate races.
Persons: we’ve, Donald Trump, Trump, Democratic Sen, Joe Manchin, Simone Pathe, it’s, we’re, Joe Biden, Biden, Sens, Bob Casey of Pennsylvania, Tammy Baldwin, Kari Lake, Lake, Nevada’s, Missouri’s Todd Akin, Mehmet Oz, Mark Kelly, Larry Hogan, I’m, Organizations: CNN, White, Senate, Republicans, Democratic, Republican, Republican Senate, Democrats, Florida, GOP, West Virginia, New York Times, Siena College, Biden Locations: nonjudicial, West Virginia, Texas, West, Arizona , Michigan, Montana , Nevada , Ohio, Pennsylvania, Wisconsin, Arizona, Nevada , Pennsylvania, Senate, Maine, Arizona , Nevada , Montana and Ohio, Montana, Ohio, Michigan , Pennsylvania, Maryland –
Read previewFor working mothers, it can sometimes feel like even when there's good news, there's also bad news. Just this week, several stories drove home some of the things that parents and working women already have sensed. But it's a good signal for working moms. The chart shows that since 2015, the percentage of women working across all those groups has gone up in the last 10 years. It's that same mix for the state of working moms — not all good, but not all bad.
Persons: , there's, Emily McCrary, Ruiz, Esparza, Hewlett Packard, That's, it's, Rachel M, Cohen Organizations: Service, Business, Hewlett, Bloomberg, Free, New York Times Reading
Boaz Weinstein, the hedge fund investor on the winning side of JPMorgan Chase's $6.2 billion, "London Whale" trading loss in 2011, is now taking on index fund giant BlackRock . The hedge fund wants board control at three BlackRock funds and a minority slate at seven others. BlackRock, Saba says in the deck, "considers itself a leader in governance, but is crushing shareholder rights." At certain BlackRock funds, for example, if an investor doesn't submit their vote in a shareholder meeting, their shares will automatically go to support BlackRock. The index fund manager's rebuttal, "Defend Your Fund," describes Saba as an activist hedge fund seeking to "enrich itself."
Persons: Boaz Weinstein, Saba, Weinstein, doesn't Organizations: Saba Capital Management, Bloomberg, JPMorgan Chase's, Weinstein's, CNBC, BlackRock, affirmatively Locations: New York, BlackRock, Weinstein's Saba, Saba
Authorities said they executed their elaborate heist in April 2023, stealing $25 million from traders in just 12 seconds by fraudulently gaining access to pending transactions and altering the movement of cryptocurrency. “As we allege, the defendants’ scheme calls the very integrity of the blockchain into question,” U.S. Attorney Damian Williams said. An indictment charged them with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. Anton Peraire-Bueno was arrested in Boston, while James Peraire-Bueno was arrested in New York. Prosecutors said that after carrying out the heist, the brothers rejected requests to return the funds and instead took steps to launder and hide the stolen cryptocurrency.
Persons: Anton Peraire, James Peraire, , Damian Williams, Bueno Organizations: CNN, Massachusetts Institute of Technology, Authorities, MIT, Prosecutors Locations: Manhattan, U.S, Boston, New York, Cambridge , Massachusetts
Americans now owe $1.12 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. Keeping up with credit card debt is getting more difficult. "Rent, when you have it, auto loans, utilities, these are all things consumers prioritize ahead of credit cards." As a result, credit card delinquency rates are higher across the board, the New York Fed and TransUnion found. Over the last year, roughly 8.9% of credit card balances transitioned into delinquency, the New York Fed reported.
Persons: Charlie Wise, TransUnion's, Young, Wise, TransUnion, Kassandra Martinchek Organizations: Federal Reserve Bank of New, New York Fed, Finance, Fed, Urban Institute Locations: TransUnion, Federal Reserve Bank of New York, , New
The U.S. Department of Education is giving borrowers more time to meet a key student loan forgiveness deadline. "The Department is working swiftly to ensure borrowers get credit for every month they've rightfully earned toward forgiveness," U.S. Borrowers pursuing the popular Public Service Loan Forgiveness program can also receive additional credit from the payment count adjustment, as long as they certify their qualifying employment for those months. The payment count adjustment is an attempt to rectify longstanding issues for student loan borrowers. The Consumer Financial Protection Bureau also found borrowers were needlessly steered into expensive forbearances, during which interest accrues and credit toward forgiveness is paused.
Persons: , Biden, Education James Kvaal, weren't Organizations: U.S . Department of Education, Education, Finance, Public, Government, Office, Consumer Financial Locations: U.S, deferments
The Department of Justice on Wednesday announced the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds. DOJ called it a "first-of-its kind" fraud, detailing the seconds-long scheme where the brothers allegedly manipulated the Ethereum blockchain to redirect pending transactions and steal $25 million. "As we allege, the defendants' scheme calls the very integrity of the blockchain into question," said U.S. Attorney Damian Williams for the Southern District of New York in a statement. Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested on Tuesday for charges of wire fraud and money laundering. The Pepaire-Bueno brothers studied math and computer science "at one of the most prestigious universities in the country," according to the DOJ.
Persons: Damian Williams, Anton Peraire, James Pepaire, Bueno Organizations: Justice, Wednesday, DOJ, Southern, of Locations: cryptocurrency, of New York
In today's big story, everyone's talking — literally — about the big update for OpenAI's ChatGPT that could make your job a lot easier . AdvertisementOpenAI may have finally cracked the code on voice interactions with AI, though. OpenAI says GPT-4o's average response to audio inputs is 320 milliseconds, which is on par with a typical human-to-human conversation. "They've essentially made text input almost be the barbaric form of communicating with ChatGPT (or any AI) now," the developer said. ChatGPT, Tyler Le/BIOpenAI's big reveal shows the shockwaves the startup keeps sending through the tech world.
Persons: , Here's, ChatGPT Holger Scheibe, Tyler Le, OpenAI, Alex Bitter, They've, ChatGPT, Katie Notopoulos, Siri, it's, Apple that's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook's, Tesla, Mark Zuckerberg, he's, Nathan Congleton, Melinda, Gates, French Gates, she'd, Melinda Gates, Bill Gates, Doug McMillon, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Teen, Business, HAL, Hollywood, Apple, Apple's Worldwide, Conference, GPT, Google, Microsoft, Washington, Getty, Tesla, Melinda Gates Foundation, University of Arkansas, Depot, Sony, Disney, Cannes Locations: NBCU, New York, London
Read previewOpenAI unveiled its latest ChatGPT tech on Monday, presenting a new voice mode that can show and detect emotion in a sophisticated, conversational style. They also cautioned that most people have been reacting to a tech demo, which can often be highly tailored and might not necessarily reflect the product's true capability. pic.twitter.com/ZncytI234K — Allen T (@Mr_AllenT) May 13, 2024OpenAI also showed potential adopters new use cases, such as translation and teaching services. AdvertisementThe new video camera and voice features do wonders for ChatGPT's potential in roles like customer support, van Rossum added. But it's going to be much more difficult for ChatGPT to take over customer support, teaching, or negotiation, Leong said.
Persons: , Scarlett Johansson, OpenAI, — Allen, Mira Murati, ChatGPT, wpB6sGjA7E, Alex Kantrowitz, Siri, Alexa, Daan van Rossum, van Rossum, Leslie Teo, Teo, Ben Leong, it's, Leong, Simon Lucey, Lucey, We've Organizations: Service, Big, Business, AIs, Companies, Singapore, National University of Singapore, University of Adelaide's Australian Institute for Machine, Microsoft Locations: Big Tech, Singapore
That’s all that’s left until the combined Social Security accounts — the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund — are likely to run out of money and can no longer pay full scheduled benefits, according to the latest report of the Social Security trustees. (Even with no fix at all — highly unlikely — incoming payroll taxes would cover 83 percent of scheduled benefits.) What I do worry about is what Washington’s patch for Social Security will look like. The cold math shows that fixing Social Security in a lasting way will require a combination of tax increases and benefit cuts. And both parties’ leaders — President Biden and former President Donald Trump — have ruled benefit cuts off the table.
Persons: — President Biden, Donald Trump — Organizations: Security, Insurance Trust Fund, Disability Insurance Trust Fund, Social, Social Security,
The AI company basically planted a flag in the sand emblazoned with two words aimed at its Big Tech rivals: your move. The newest version of the AI chatbot, powered by OpenAI's new flagship AI model GPT-4o, can reason across audio, vision, and text in real time. AdvertisementAll the while, the voice assistant maintained a lighthearted and cheerful tone. In another instance, ChatGPT said the researcher was making it blush when he said he was talking about how "useful and amazing" ChatGPT was. Meanwhile, Amazon had plans to release an "Alexa Plus" paid version of the voice assistant that's powered by generative AI, Business Insider's Eugene Kim first reported.
Persons: , Sam Altman, Mira Murati, Scarlett Johansson, Spike, Mark, ChatGPT, OpenAI, Alexa, Apple's Siri, Siri, There's, Insider's Eugene Kim Organizations: Service, Big Tech, Business, Warner Bros, Google, Apple, Amazon Locations: ChatGPT
OpenAI unveils newest AI model, GPT-4o
  + stars: | 2024-05-13 | by ( Clare Duffy | ) edition.cnn.com   time to read: +5 min
The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched just over a year ago. Rivals including Google and Meta have been working to build increasingly powerful large language models that power chatbots and can be used to bring AI technology to various other products. The OpenAI event came one day ahead of Google’s annual I/O developer conference, at which it’s expected to announce updates to its Gemini AI model. OpenAI executives demonstrate the company's latest large language model, GPT-4o. Free ChatGPT users will have a limited number of interactions with the new GPT-4o model before the tool automatically reverts to relying on the old GPT-3.5 model; paid users will have access to a greater number of messages with the latest model.
Persons: OpenAI, Mira Murati, ” Murati, ChatGPT, “ You’re, Scarlett Johansson, , Sam Altman, it’s Organizations: New, New York CNN, Monday, San, Rivals, Google, Gemini, Apple, Worldwide Developers Conference, Microsoft Locations: New York, ChatGPT, San Francisco
ChatGPT may be about to make your job way easier
  + stars: | 2024-05-13 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +1 min
You'll soon be able to pull ChatGPT up on your screen and get real-time feedback on your work. ChatGPT was able to suggest fixes to errors in code in a live demo on Monday. OpenAI debuted the feature as part of ChatGPT-4o, the latest version of the AI tool. AdvertisementThe latest version of ChatGPT could turn the artificial-intelligence tool into a personal assistant — including at work. This story is available exclusively to Business Insider subscribers.
Persons: You'll, ChatGPT, OpenAI, Organizations: Service, Business Locations: ChatGPT
Opinion | Biden Is Doing It All Wrong
  + stars: | 2024-05-12 | by ( Mark Penn | ) www.nytimes.com   time to read: +2 min
I’ve spent decades looking at the behavior of swing voters and how candidates appeal to them, including for Bill Clinton’s re-election campaign in 1996. People usually assume that turning out so-called base voters in an election matters most, since swing voters are fewer in number. And it’s true that in today’s polarized environment, Mr. Biden and Mr. Trump each has about 40 percent of the country in their bases already and nothing will change those people’s minds. Take Michigan, a battleground state where Mr. Trump has led Mr. Biden by as many as three percentage points in the last month. Or Mr. Biden could switch just 125,000 swing voters and win.
Persons: Biden, I’ve, Bill Clinton’s, Trump, Clinton, George W, Bush, Barack Obama, Locations: Israel, America
Madi Lee says she lives comfortably in Medora earning $50,000 per year working at the Theodore Roosevelt Medora Foundation. Take Madi Lee, 24, who graduated in 2022 and found herself working in Medora, North Dakota — popoulation: 121. Medora is a tourist town near Theodore Roosevelt National Park where the busy season brings in thousands of visitors. Madi Lee, 24, moved to Medora, North Dakota, which has a year-round population of 121 people. Courtesy of Madi Lee
Persons: Madi Lee, Theodore Roosevelt Medora, Theodore Roosevelt, Lee, I'm, Roth, Medora, she's, she'll Organizations: Theodore Roosevelt Medora Foundation . New, D.C, Theodore Roosevelt Medora Foundation, Ford Bronco, University of Minnesota Duluth Locations: Theodore Roosevelt Medora Foundation . New York City, Washington, Salt Lake City, Medora , North Dakota, Theodore, Madi Lee, Medora, Dickinson, North Dakota, it's, Roseau , Minnesota, Madi
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