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What comes next could hinge on who gets to oversee labor relations after the election. The National Labor Relations Board — which polices unfair labor practices and mediates worker-management disputes — has become an aggressive union booster under Biden. While the agency’s policies typically shift depending on who’s in the White House, the change has been pronounced, labor experts and former NLRB staffers say. Before joining the law firm in 2022, White worked for a decade at a regional NLRB field office under the Obama, Trump and Biden administrations. Last year, the NLRB overturned a 50-year precedent, requiring employers to recognize a union if most workers sign authorization cards for one.
Persons: Joe Biden’s, , , Michael LeRoy, haven’t, Donald Trump, Kamala Harris, ” LeRoy, “ Biden, Joel White, Fox Rothschild, White, Trump, Peter Robb, Jennifer Abruzzo, “ It’s, Rebecca Leaf, Ballard Spahr, Obama, Leaf, ” White, Kate Bronfenbrenner Organizations: National Labor Relations Board, Biden, NLRB, School of Labor, Employment, University of Illinois, Fox, Obama, Trump, , Cornell University’s School of Industrial and Labor Relations, Hollywood, United Auto Workers Locations: Detroit, Hollywood, University of Illinois Urbana, Champaign, Biden’s, Buffalo , New York
The third pattern he looks for, which he picked up from Minervini, is the volatility contraction pattern (VCP). AdvertisementIntraday VCPThe VCP pattern can be spotted over multiple days or weeks. The spike in green volume bars parallel to the first price spike demonstrates this in the chart below. AdvertisementFor Gajjala, it's an easier pattern to trade because the contraction period is longer than other patterns he watches for. Below is an example of a trade Gajjala took on Syntec Optics Holdings (OPTX) on November 17.
Persons: aren't, Gajjala, Mark Minervini, Norman Zadeh Organizations: Service, US, Business, Syntec Optics Holdings Locations: Dallas, Minervini
Disney's classic baddies are getting their own theme park land at the Magic Kingdom in Orlando, Florida. This area will differ from the one at Disney California Adventure, D'Amaro told the audience, and will take place in the wilderness. As part of the Tropical America's land Disney is creating Pueblo Esperanza, which means village of hope. DisneylandThe world of "Avatar" will make its way to Disney's California Adventure, D'Amaro shared Saturday. The Walt Disney World Resort version of the ride opened in June.
Persons: Walt Disney, Mickey Mouse, Gary Hershorn, Disney, Josh D'Amaro, Parks, Rita Ora, D'Amaro, Shaboozey, Billy Crystal, Mike Wazowski, Crystal, Indiana Jones, Huy Quan, Josh, Quan, Madrigal, Antonio, Ash, Ali Rubinstein, Walt Disney Imagineering, Miguel, Deadpool, King Thanos, King, Scott Trowbridge Organizations: Magic, Walt Disney World, Corbis, Big, Honda Center, Disney, Walt Disney, Disney California, Hollywood Studios, Inc, Pirates, Defense, Stark, Disneyland, Walt Disney Imagineering, Marvel . Disney Cruises, Disney Cruise Locations: Orlando , Florida, Anaheim , California, California, Florida, Indiana, Orlando, Pueblo Esperanza, New York City, Disneyland Paris, Pride, Shanghai, Hong, Tokyo
Wealthy investors and family offices shied away from stocks leading up to market swings this week, but many saw the drop in prices as an opportunity for tax savings and estate planning, according to wealth advisors. When stocks tumbled Monday, with the S&P 500 and Nasdaq down 3%, wealthy investors neither panicked nor jumped in to buy, according to several advisors. The drop in prices last Friday and Monday also offered a chance for wealthy investors to take advantage of tax benefits and gift strategies. With the gift and estate exemption amount scheduled to expire at the end of next year, many wealthy investors are working to give away the maximum before the expiration. “Most family offices are so invested in alternatives, hedge funds, PE and real estate, that they aren’t moving their investments around anyway,” said Geoffrey von Kuhn, an advisor to several of the nation’s largest family offices.
Persons: , ’ ”, Sean Apgar, ” Apgar, BBR, , William Sinclair, ” Sinclair, , Jennifer Povlitz, Geoffrey von Kuhn, Richard Weintraub, ” Weintraub, Buffett, Michael Pelzar, ” Pelzar, , Jimmy Chang Organizations: UBS, Deloitte, Nasdaq, BBR Partners, Morgan Private Bank, Big Tech, , UBS Wealth Management, Americas, Citi Private Bank, Bank of America Private Bank, ” Advisors, Rockefeller Global Family Locations: U.S, J.P
Rather than developing its own AI models, JPMorgan designed LLM Suite to be a portal that allows users to tap external large language models — the complex programs underpinning generative AI tools — and launched it with ChatGPT maker OpenAI’s LLM, said the people. ChatGPT banThe bank is giving employees what is essentially OpenAI’s ChatGPT in a JPMorgan-approved wrapper more than a year after it restricted employees from using ChatGPT. The number of uses for generative AI are “exponentially bigger” than previous technology because of how flexible LLMs are, Heitsenrether said. Ultimately, the generative AI field may develop into “five or six big foundational models” that dominate the market, she said. Heitsenrether charted out three stages for the evolution of generative AI at JPMorgan.
Persons: ” Teresa Heitsenrether, , ChatGPT, Morgan Stanley, Jamie Dimon, Dimon, JPMorgan didn’t, Heitsenrether, , “ We’ve, ” Heitsenrether, it’s, — CNBC’s Leslie Picker Organizations: JPMorgan Chase, CNBC, JPMorgan, Apple, Accenture, Citigroup Locations: U.S
My first job out of university was at a tech PR firm. I've always liked wearing different hats, and these threads led me to join Playfair, a generalist VC fund. I was so surprised at how relevant my PR experience wasI was so surprised at how relevant my PR experience was because so much of VC is investor relations. If your background is generalist and diverse, that kind of VC fund would likely suit you. But if you started your career with a technical background, you'd perhaps be suited to a deep tech fund.
Persons: Lucia Polverino, , Piper Sandler, I've, I, Playfair, It's, it's, that's, grads Organizations: Service, Business, KKR, LexisNexis Locations: London, American
After years of starts and stops at the box office, Disney appears to have hit a groove in 2024. Its latest Pixar film, “Inside Out 2,” is now the highest-grossing animated film of all time, topping $1.5 billion at the global box office. And the box office hits aren’t expected to stop there. Disney has long been a box office champion, driving significant ticket sales domestically and globally. In the year before the pandemic, Disney had seven theatrical releases top $1 billion at the box office.
Persons: Disney, ” —, , Paul Dergarabedian, bemoaned, Shawn Robbins, We’re, Bob Iger, Covid lockdowns, Iger, Disney’s, Riley, ” Iger, Wednesday’s, , , America, we’re, Romulus ” “, King, Moana, Robbins, Organizations: Pixar, Disney, Comscore, Star, Marvel, Century Fox, Sony, Star Wars, Lucasfilm Locations: , Comscore, Anaheim , California
LONDON — E-commerce giant Amazon’s multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. Amazon completed in March a $4 billion investment in Anthropic. As part of the deal Amazon will make Anthropic’s powerful large language models available on its Bedrock platform for building generative AI applications. An Anthropic spokesperson told CNBC: “We are an independent company. The CMA is separately scrutinizing U.S. software giant Microsoft’s multibillion-dollar partnership and investment in AI giant OpenAI.
Persons: Anthropic, Anthropic “, , Matt Calkins, Appian, ” Calkins, you’ve, Organizations: Markets, CMA, Amazon, CNBC, Microsoft, U.S . Federal Trade Commission, Google, Big Tech Locations: U.S, Anthropic
Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media. Paramount has identified $500 million in cost savings, which include the head count reductions, as part of $2 billion in synergies related to its transaction with Skydance. Paramount agreed to a merger with Skydance Media last month. Meanwhile, earnings surged as the company's streaming division swung to an unexpected profit — the first time Paramount has announced a profitable quarter for its direct-to-consumer business. Here's how Paramount performed in the quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Persons: Organizations: Paramount, Skydance Media, LSEG
Financial-services firms risk the wrath of the Securities and Exchange Commission if their employees make campaign contributions to state or local officials such as Walz. Donating to the campaign would violate the regulator's "pay-to-play" rule, which keeps firms from trying to sway politicians for favors such as managing their state's pension fund. Those employees are also required to get permission to donate to the Harris-Walz campaign. It is possible to sidestep the pay-to-play rule by donating to PACs or Super PACs that aren't directly tied to the relevant candidate. "The Pay-to-Play Rule, although well-intentioned, imposes unique, unquantifiable costs on individuals by impeding their ability to participate in the political process."
Persons: , Joe Biden, Kamala Harris, Tim Walz, Walz, Harris, Donald Trump's, Wells, Mike Pence, Pershing, Patricia Crouse, Crouse, aren't, Hester Peirce Organizations: Service, Street, for Responsive, Democrat, Minnesota Gov, Financial, Securities and Exchange Commission, Business, Citigroup, Citi, JPMorgan, Bank of America, Trump, Pershing, SEC, University of New Locations: Wells Fargo, Indiana, Massachusetts, Tallahassee , Florida, University of New Haven
Chesnot | Getty ImagesLONDON — E-commerce giant Amazon's multibillion-dollar investment in the U.S. artificial intelligence firm Anthropic is formally being investigated by a U.K. competition regulator. As part of the deal Amazon will make Anthropic's powerful large language models available on its Bedrock platform for building generative AI applications. "By investing in Anthropic, Amazon, along with other companies, is helping Anthropic expand choice and competition in this important technology. Amazon's spokesperson added that the company will continue to make Anthropic's models available to customers via Bedrock. "We welcome the opportunity to cooperate with the CMA and provide them with a comprehensive understanding of Amazon's investment and our commercial collaboration."
Persons: Dario Amodei, Anthropic Organizations: Getty, Markets, CMA, Amazon, CNBC, Microsoft, U.S . Federal Trade Commission, Google Locations: Chesnot, U.S, Anthropic
PARIS — The second boxer at the center of a global debate over gender eligibility and fairness at the Paris Olympics won her semifinal match Wednesday, ascending to the featherweight gold medal bout. Lin and another female Olympic boxer, Imane Khelif of Algeria, continue to face intense scrutiny and false accusations about their gender and eligibility to compete with women. The Bulgarian Olympic Committee later confirmed that Staneva was boasting about having XX chromosomes in an attempt to mock Lin. "The opponent is a respectable one.”Algeria's Imane Khelif reacts after defeating Thailand's Janjaem Suwannapheng in a women's 66-kilogram semifinal boxing match at the Olympics on Tuesday. Some who initially criticized Khelif and Lin apologized as more information about them and the IBA’s legitimacy came to light.
Persons: Lin Yu, Esra Yildiz, Lin, Imane, Kahraman, Svetlana Staneva, Staneva, Turkey's, Peter Byrne, ” Lin, couldn't, Khelif, Thailand's Janjaem, Ariana Cubillos, Thailand’s Janjaem, Umar Kremlev —, Vladimir Putin —, Thomas Bach, ” Bach, Aijaz, , Mark Adams, ​ “, Lin’s, Khelif’s, Kremlev, Imane Khelif, Vadim Ghirda, Elon Musk, Harry Potter ”, J.K, Rowling, Donald Trump, ” Trump, Logan Paul, ” Riley Gaines, Nikki Hiltz, , ” Hiltz, it’s, ” Khelif, Yang Liu of, Julia Szeremeta, Garros, David K, Li, Matt Lavietes, Jiachuan Wu Organizations: PARIS, Paris Olympics, Bulgarian Olympic, Representatives, Turkish Olympic, Press, AP, Tokyo, Boxing Association, Olympic Committee, IOC, IBA, SNTV, USA, Olympics, X, Boston Globe, Roland Locations: Taipei, Turkey, Algeria, Paris, Russian, New Delhi, Russia, Hangzhou, China, Istanbul, , Yang Liu of China, Taiwan, New York
Disney reported weaker-than-expected results for its theme-parks division in its latest earnings. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDisney's theme parks are struggling in another warning signal for the US economy. The entertainment giant reported weaker-than-expected results in its theme-parks division as it announced third-quarter earnings on Wednesday, in another sign that consumers are reining in spending as economic storm clouds gather.
Persons: Organizations: Disney, Service, Business
Secret Service agents taped over a security camera and broke into a Massachusetts hair salon while securing the area for a Kamala Harris campaign event, according to the salon's owner. Advertisement(Business Insider blurred the face of a Secret Service agent in the video below.) The fourth person, wearing a dark suit and white shirt like a Secret Service officer, stood by the door. BI asked Secret Service spokesperson Melissa McKenzie whether the agency invited other people to use the bathroom. Brian Smith, the building's landlord, said he didn't give the Secret Service permission to use the property either.
Persons: , Kamala Harris, Harris's, Alicia Powers, Harris, Powers, Melissa McKenzie, Brian Smith, didn't, Smith, McKenzie, Bill Pickle, Pickle, Matthew Hill, she'd Organizations: Service, Secret Service, Democratic, Business, Colonial Theatre, Secret, BI, Pittsfield Police Locations: Massachusetts, Pittsfield , Massachusetts, Pittsfield, Boston
Disney's combined streaming business, which consists of Disney+, Hulu and ESPN+, turned a profit for the first time — and it happened a quarter earlier than the company had expected. Executives on Wednesday's earnings call touted the progress of Disney's streaming business toward profitability, a goal for all media companies as they look to chase customers switching to streaming. The combined streaming business posted an operating profit of $47 million compared with a loss of $512 million in the same quarter last year. Meanwhile, in May, Disney highlighted a slightly different metric, noting that Disney+ and Hulu together turned a profit, but when combined with ESPN+, the streaming businesses suffered a loss. "I feel very bullish about the future of this business," Iger said during the call.
Persons: Bob Iger, Hulu, Jaque Silva, Iger, We're, Hugh Johnston, Johnston Organizations: Disney, Hulu, ESPN, Getty, Total Hulu, Revenue, Netflix, Warner Bros . Discovery, Fox, Star India Locations: PARAGUAY, India
Here's a surprise: Disney 's media business isn't weighing down the company anymore. Disney's combined streaming businesses — Disney+, Hulu and ESPN+ — turned a quarterly profit for the first time ever, making $47 million. Meanwhile, Disney saw a "moderation of consumer demand towards the end of [fiscal] Q3 that exceeded our previous expectations" for its theme parks division. The company said last year it plans to invest $60 billion in its theme parks and cruise lines in the next decade. Disney shares dropped Wednesday, likely because investors were focused on the parks.
Persons: Here's, , Disney, Bob Iger, Iger, Captain America, we're, Hugh Johnson Organizations: Hulu, ESPN, Disney, Netflix
Here's how Sony did in the June quarter, versus LSEG consensus estimates:Revenue: 3.01 trillion Japanese yen ($20.5 billion), versus 2.8 trillion yen expected. Operating profit: 279.11 billion yen ($1.9 billion), versus 275.35 billion yen expected. Gaming, for which Sony is well-known thanks to its popular PlayStation consoles, banked revenues of 864.9 billion yen in the quarter, up 12% from 771.9 billion yen a year ago. For full-year 2024, Sony revised its forecast upward saying it now expects to hit 12.6 billion yen of sales. Sony also upped its operating profit forecast by 3%, noting it expects to reach 1.3 trillion yen in consolidated operating profit for the full year.
Persons: Carter Organizations: Sony, PlayStation
The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on Feb. 7, 2024. CVS Health on Wednesday slashed its full-year profit outlook again and announced a new plan to cut $2 billion in expenses over several years as higher medical costs squeeze the company and the broader U.S. insurance industry. CVS also cut its unadjusted earnings guidance to a range of $4.95 to $5.20 per share, down from at least $5.64 per share. Those ratings help Medicare patients compare the quality of Medicare health and drug plans. Medicare Advantage, a privately run health insurance plan contracted by the federal Medicare program, has long been a driver of growth and profits for the insurance industry.
Persons: Brian Kane, Karen Lynch, Thomas Cowhey, Katerina Guerraz, Lynch, LSEG, CVS, Cowhey, Caremark Organizations: CVS Health Corp, CVS Health, Aetna, CVS, Affordable, Medicare, UnitedHealth, Humana, Elevance, LSEG Locations: Las Vegas , Nevada
PARIS — Lighting the Olympic cauldron symbolically opened these Games — and, as much as possible, might have also taken a torch to some awful pandemic memories. The past two Games were staged in bubbles in and around Beijing and Tokyo as Covid was still a factor. And while some athletes have tested positive for Covid during the Paris Games, they have not upended competition. (NBC News is a division of NBCUniversal, which owns the U.S. media rights to the Olympic Games through 2032.) French fans have been wildly cheering for their athletes and team throughout these Games — so much so, that even Americans have taken notice.
Persons: we’ve, , Covid, Thomas Samson, , Keylle Fabrino, “ It’s, Selma Attie, ” Mark Lazarus, Katie Ledecky, they’ve, Léon Marchand, ” Ledecky Organizations: PARIS, Paris Games, Getty, Brasil, NBC, Olympic Games, NBC Universal Media Group, Los Angeles, Paris La Défense, U.S Locations: Taiwanese, London, Beijing, Tokyo, Paris, Brazil, France, NBCUniversal, Los Angeles, Inglewood
Dell is restructuring its sales division and cutting staff as part of its "modernization." Managers and senior managers were the main targets of layoffs, employees told Business Insider. Go to newsletter preferences Thanks for signing up! AdvertisementDell has laid off staff as part of a significant restructuring of its sales division. Sales divisions are being consolidated and a new AI Select Sales team created, the memo stated.
Persons: , Dell Organizations: Dell, Business Insider, Workers, Service, Business
Big Tech companies became less known for one particular product. Instead, Big Tech became obsessed with a series of half-baked boondoggles that seemed revolutionary, yet in practice, were either not reliable enough to be trusted or simply not that useful. Big Tech has become sullen, entitled, and lazy, believing that nobody else could snatch away its precious customers. Related storiesEven when tech companies aren't trying to shove AI down our throats, they fall into a similar trap. AdvertisementWhen the public eventually walks out, I don't believe Big Tech is even capable of making the adjustments necessary to win them back.
Persons: Smart, surly, Apple, Meta, Tesla, Elon Musk, Musk, , Goldman Sachs, Jim Covello, Sundar Pichai, it's, Tech's, Satya Nadella Organizations: Google, Microsoft, Apple, Big Tech, Siri, Amazon, Meta, Tech, Facebook, cryptocurrency, Porsche, Microsoft Windows Locations: America
But prosecutors had no direct evidence tying Black to the location of the murder, an Ohio appellate court later said. In many cases, prosecutors themselves don't even have access to the source code and haven't reviewed the underlying technology. Back in Akron, the judge in Rankin's case ordered the Cybercheck evidence excluded after prosecutors failed to turn over the source code. The Summit County Prosecutor's Office declined to comment when reached by BI. It's unclear how many others may be behind bars because of Cybercheck evidence that was never rigorously scrutinized.
Persons: Adarus Black, Black, Na'Kia Crawford, Crawford, Adam Mosher, Mosher, Cybercheck, Chris Ramsey, It's, That's, Donald Malarcik, Summit County who've, Javion Rankin, Tyraye Carter, Rankin, Malarcik, Eric Zale, Zale, Mr, Shara Munn, she'd, Freiheit, Meghan, Breck, Roesch, weren't, They've, who's, isn't, Phillip Mendoza, Kimberly Thompson, Brian James, Tyree Halsell, Mendoza, Mosher's, Steve Michniak, Michinaik, William Holland, Brian Stano, Katherine Long, Jack Newsham Organizations: Business, NBC News, Cybercheck, Prosecutors, Police, Fleming College, Technicians, Akron Police Department, University of Saskatchewan, Summit, Prosecutor's, BI Locations: America, Akron , Ohio, Ohio, Colorado , New York, Florida, New York, Philadelphia, Houston, Denver, Akron, Summit County , Ohio, Canada, Toronto, Summit County, Boulder , Colorado, New Brunswick, Calgary, Colorado, Nevada, Pennsylvania, Colorado , Ohio, East Akron , Ohio, Summit, Portage County, Lake Erie
Uber announced on Tuesday its ad business had hit a $1 billion annual run rate. Launched in 2022, Uber Ads offers formats on apps, emails, cartops, and in-car tablets. Uber Ads sees further growth potential in areas such as programmatic, measurement, and playable ads. Go to newsletter preferences Thanks for signing up! Uber launched its ads division in 2022 and sells a range of formats, from ads that appear on the Uber and Uber Eats apps, within emails, on cartops, and displayed on in-car tablets.
Persons: Uber, Organizations: Uber, Service, Business Locations: cartops
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDOJ's Kanter on Google antitrust ruling: We're interested in ensuring the competitive market worksJonathan Kanter, Assistant Attorney General for Justice Department’s Antitrust Division, joins 'Squawk on the Street' to discuss Google's antitrust lawsuit, what the ruling means for Google going forward, what the remedies should be, and more.
Persons: DOJ's Kanter, We're, Jonathan Kanter Organizations: Google, Justice Department’s Antitrust
Top NewsA rocket attack targeting U.S. personnel housed at a base in Iraq’s western desert injured several American troops late on Monday, according to U.S. defense officials. Initial reports were that at least five people were injured in Monday’s attack and that the wounded included both U.S. troops and contractors. Those Iraqi militants have typically attacked U.S. forces in Iraq and Syria and targeted Israel using longer-range rockets. The chief goal of Iran-backed groups in Iraq is to force the U.S. troops to leave the country entirely. There are about 2,500 American troops in Iraq, as well as 900 in Syria, where the Islamic State has once again become active.
Persons: Ismail Haniyeh, Fuad Shukr, Israel, Haniyeh’s, Biden, Kamala D, Harris, Asad, Organizations: Asad, Asad Air Base, U.S, Hamas, Mr, Iraqi, Iran’s Revolutionary Guards Corps, Revolutionary Guard, Al Asad, Al Asad Air Base, Pentagon, Islamic Locations: Ain, Asad Air, Iran, Gaza, U.S, Syria, Israel, Tehran, Beirut, Yemen, Iraq, Damascus, Al Asad Air, Islamic State, Jurf al, Baghdad
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