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☆ As interest rates drop, ultra-rich investors are giving up their cash for risk assets. Here's what they're buying.
▼ + stars: | 2024-09-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Citi Private Bank's latest Global Family Office survey showed that family offices had already been moving into risk assets well before the central bank began cutting. Citi Private Bank's latest Global Family Office survey. Related storiesSo far, the move toward equities has translated into a rush for big tech's AI, which remains a favorite among family offices. AdvertisementWhen it comes to real estate, family offices often prefer private investments. AdvertisementFixed incomeThe number one goal for any family office is the preservation of capital.

Persons: —, Richard Weintraub, Bank's, haven't, Weintraub, REITs Organizations: Service, Citi, Bank's, Business, Treasury Locations: American

☆ Adoption fraud was widespread for many South Koreans adopted into Western countries, AP finds
▼ + stars: | 2024-09-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +22 min

SEOUL, South Korea (AP) — As the plane descended into Seoul, Robert Calabretta swaddled himself in a blanket, his knees tucked into his chest like a baby in the womb. The South Korean government has accepted a fact-finding commission under pressure from adoptees, and hundreds have submitted their cases for review. Western governments turned a blind eye, sometimes even pressuring South Korea for children, while promoting the narrative that they were saving orphans with no other options. Robert Calabretta, right, and his biological father, Lee Sung-soo, during a visit in Daegu, South Korea, in August 2020. Laurie Bender was approached by a strange woman while playing in the front yard in South Korea in 1975.

Persons: Robert Calabretta swaddled, they’d, “, ”, —, doesn’t, Robert Calabretta, Lee Sung, Calabretta, “ You’re, Patricia Nye, ” Nye, Holt, weren’t, ” Michaela Dietz, Robyn Joy Park, Rae, hasn't, Jae, Lee, ” Lee, Lee Moo, wasn’t, David Goldman, she’d, Laurie Bender, Bender, Han Tae, Philsik Shin, Helen Noh, Noh, ” Noh, he’d, Susan Soonkeum Cox, Kim Jin Sook, Francis Carlin, ” Carlin, …, Carlin, ” Bender, you’ve, Han Organizations: The Associated Press, South, AP, Frontline, International Social Service, University of Minnesota, ISS, BBC, ”, Holt Children’s Services, Eastern Social Welfare Society, Korea Welfare Services, Korea Social Service, Records, Health Ministry, Red Cross Hospital, U.S, Korea’s Anyang University, Seoul’s Soongsil University, Holt International, Catholic Relief Services, South Korean, FRONTLINE, PBS Locations: SEOUL, South Korea, Seoul, United States, South, Western, adoptees, U.S, Australia, Daegu, Korean, West, Korea, Geneva, “, Asia, Europe, North America, Pasadena , Calif, Boryeong, American, New York, ”, Oregon, Holt, Holt Korea

☆ Zachary Quinto knows how to play the villain. Now, he gets to be the hero in ‘Brilliant Minds’
▼ + stars: | 2024-09-23 | by ( Max Gao | Max Gao Is A Freelance Entertainment | Sports Journalist Based In Toronto. He Has Written For Nbc News | ) www.nbcnews.com time to read: +9 min

While exploring the wonders of the human mind, Dr. Wolf and his team of young interns must grapple with their own mental health. Quinto had just come off making his West End debut in a play about the political debates between Gore Vidal and William F. Buckley Jr. “A big part of this season’s story is Dr. Wolf starting to live his life, and what that might look like romantically is an interesting question as well.”Zachary Quinto in "Brilliant Minds." Quinto was staggered to learn of Rodemeyer’s death and said he was forced to confront his own hypocrisy. “The legacy of storytelling with him, my connection to him, and the fact that he’s a part of this show is really, really moving and meaningful to me.”For more from NBC Out, sign up for our weekly newsletter.

Persons: Zachary Quinto, ”, “, Spock, Dr, Oliver Sacks, Michael Grassi, Quinto, Oliver Wolf, . Wolf, Sacks, ” Quinto, Oliver Sacks ’, we’ve, ” Sacks, Robin Williams, Greg Berlanti, ” Grassi, —, Chris McGrath, Grassi, Zach, he’s, Gore Vidal, William F, Buckley Jr, Sacks —, “ Dr, Wolf, ” Zachary Quinto, Teddy Sears, Ryan Murphy’s, ” Sears, Josh Nichols, Wolf’s, “ Oliver Wolf, cumulatively, Jamey Rodemeyer —, would’ve, Barack Obama, Kamala Harris, Leonard Nimoy, Nimoy's, Susan Bay Nimoy, Leonard’s Organizations: NBC, “, New York Times, Bronx General Hospital, NBC News, ”, Democratic National Convention Locations: “ NOS4A2, British, “ Riverdale, New York City, Hollywood, New York, America, “

☆ Octopuses seen hunting together with fish in rare video — and punching fish that don't cooperate
▼ + stars: | 2024-09-23 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +7 min

The Summary A new study found that some members of an octopus species hunt cooperatively in groups with fish. A new study shows that some members of the species Octopus cyanea maraud around the seafloor in hunting groups with fish, which sometimes include several fish species at once. It’s an indication that at least one octopus species has characteristics and markers of intelligence that scientists once considered common only in vertebrates. These hunting groups typically included several species of reef fish, such as grouper and goatfish. These are the ambush predators, the ones that don’t move, don’t look for prey,” Sampaio said.

Persons: aren’t, ”, Eduardo Sampaio, Simon Gingins, ” Sampaio, it’s, “, Martha, I’ve, ” It’s, Jonathan Birch, ” Birch, cyanea Organizations: Max Planck, Animal, London School of Economics Locations: Eilat, Israel

☆ Only 33% of millionaires consider themselves wealthy, report finds. Why it's so hard to feel rich
▼ + stars: | 2024-09-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

More borrowers are carrying debt from month to month and a growing number are falling behind on their monthly credit card payments. Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported for the second quarter of 2024. Nearly half, 44%, of Americans said credit card debt is the biggest threat to their ability to build wealth, according to Edelman Financial Engines. "High-interest rate credit card debt, more than other sorts of debt, is a savings killer, because when you have it, you have to feed the beast. Among millionaires, 68% said they would need at least $3 million and 40% said feeling wealthy would require $5 million of more.

Persons: Chatzky, — Organizations: Bureau of Labor Statistics, New York Fed, Edelman

☆ What a Blue Zone heart doctor eats every week for brain health — including 1 supplement
▼ + stars: | 2024-09-23 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

Not all of them make it to 100, but they do tend to enjoy relatively good health for longer than most people in the US. He has developed a two-part weekly plan for his own brain health based on his own research. AdvertisementThis doesn't mean that the average meat-eater's diet is a boon for brain health. Fatty fish, meat, and eggs are also rich in the nutrient choline. Plus, in addition to being good for bone health, there is some evidence that vitamin D is good for preserving brain function.

Persons: —, there's, Gary Fraser, Fraser, what's, it's, Anthony Fauci, you'd Organizations: Service, Business Locations: Linda , California, North America, Loma, California, Fraser

☆ The attitude towards wealth creation in China has changed, says Rockefeller's Ruchir Sharma
▼ + stars: | 2024-09-23 | 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 EmailThe attitude towards wealth creation in China has changed, says Rockefeller's Ruchir SharmaRuchi Sharma, Rockefeller International chairman and Breakout Capital founder and CIO, joins 'Squawk Box' to discuss why he believes it's dangerous now to get rich in China, state of the Chinese economy, attracting private capital in the country, and more.

Persons: Rockefeller's Ruchir Sharma Ruchi Sharma Organizations: Rockefeller International, Breakout Capital Locations: China

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Pinterest, Palantir, Microsoft, Nike, Meta & more
▼ + stars: | 2024-09-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are initiating coverage of enterprise planning and 'Office of the CFO' software provider OneStream (OS) with an Outperform rating and $38 target price." Deutsche Bank initiates Pinterest at buy Deutsche called Pinterest an "under-monetized, scaled, increasingly personalized 'digital catalog' that attracts an affluent, high purchase-intent user base." "We initiate coverage of Pinterest, Inc. with a Buy Rating and a $43 Price Target." "We initiate coverage on FLUT with a Buy Rating and $270 PT." JPMorgan adds Nike to negative catalyst watch list The bank is sticking with its neutral rating but is negative heading into earnings on October 1 for Nike.

Persons: Bernstein, it's bullish, Morgan Stanley, Piper Sandler, Piper, TD Cowen downgrades, Cowen, Goldman Sachs, Goldman, Raymond James downgrades Palantir, Raymond James, Dr Pepper, Wells, Tesla, it's, bullish, Coreweave, Davidson, Needham, Truist Organizations: Nvidia, Citi, Meta, Facebook, Apple, BMO, Bank of America, underperform Bank of America, Holding AG, Citigroup, Deutsche Bank, Deutsche, Barclays, Bank, New York Mellon, Bank of New York Mellon, Motors, Microsoft, Needham, JPMorgan, Nike, Technology Locations: North America

☆ How to eat carbs without spiking your blood sugar, according to a nutrition researcher
▼ + stars: | 2024-09-23 | by ( ) www.businessinsider.com time to read: +6 min

Read previewYou don't have to cut out carbs to balance your blood sugar for better health and energy, according to a top nutrition researcher. Choose high-fiber carbs like whole grains and berriesThe type of carbs you chose can also influence your blood sugar response. A recent ZOE study found that people had a more moderate response in blood sugar when they ate a meal for breakfast, but a larger blood sugar response to the same meal when they ate it later in the day. Take a short walk after mealsAnother way to manage your blood sugar is to get moving, since exercise helps use up stored energy and makes you more sensitive to insulin, the hormone that regulates blood sugar. Advertisement"If you have poor night's sleep, you have a higher blood sugar response compared to if you have a good night's sleep.

Persons: —, It's, Sarah Berry, Berry, dietitians, dietitian Bonnie Taub, Dix Organizations: Service, King's College, Business Locations: London

Learn moreI'm on a perpetual hunt for the perfect office-appropriate gym bag. Ever been stuck in an elevator with your company's higher-ups while carrying a banged-up gym bag? UPDATE: It's been over a year-and-a-half since I started using the Dagne Dover Landon Carryall, and I've tested many more gym bags in the meantime. Below you can see the interior of the size small carryall, which has less space, but a similar organizational structure. The bottom line:If you need a gym-to-office bag, the Landon Carryall is the one you should be looking at.

Persons: Dagne Dover's Landon Carryall, It's, —, Talia Ergas, Dover Landon Carryall, I've, Landon Carryall, Dagne, Dagne Dover, Ellen Hoffman, Landon, it's Organizations: Business, Service, packer, Dagne Dover Organization, Allyn Tote

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHarris vows to encourage innovation of digital assets during NYC fundraiser: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Rich Rines of Core DAO breaks down the latest price moves for bitcoin and ether, and where crypto markets could be headed by 2025.

Persons: Harris, explainers, Rich Organizations: CNBC Crypto, CNBC

Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. 7 a.m.: DA Davidson downgrades Microsoft, cites diminishing AI lead DA Davidson believes that Microsoft has lost its edge over competitors in artificial intelligence. The investment firm downgraded shares of the tech giant to neutral from buy, although analyst Gil Luria maintained his $475 price target. This could begin to have a material impact on the company's returns beginning in 2025, the analyst wrote. Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead.

Persons: Raymond James, Morgan Stanley, Bernstein, DA Davidson, Davidson, Gil Luria, Luria, GitHub Copilot, — Lisa Kailai Han, Daniel Roeska, Roeska, Lisa Kailai Han, Ronald Josey, Josey, Meta, Atif Malik, Malik, Raymond James downgrades, Brian Gesuale, Gesuale, David Arcaro, Arcaro, Wells, Neil Kalton, — Fred Imbert Organizations: CNBC, Constellation Energy, Motors, Microsoft, DA, Nvidia, Motors General Motors, General Motors, Hyundai, Citi Locations: Palantir, Friday's, U.S, 25e, GenAI

☆ Eating fish or meat could protect your brain as you age
▼ + stars: | 2024-09-23 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

Not all of them make it to 100, but they do tend to enjoy relatively good health for longer than most people in the US. He has developed a two-part weekly plan for his own brain health based on his own research. AdvertisementThis doesn't mean that the average meat-eater's diet is a boon for brain health. It doesn't tend to include much of any red meat or milk, but there are two core components he points to that are aimed at preserving brain health. Fatty fish, meat, and eggs are also rich in the nutrient choline.

Persons: —, there's, Gary Fraser, Fraser, what's, it's, Anthony Fauci, you'd Organizations: Service, Business Locations: Linda , California, North America, Loma, California, Fraser

“I know the story of my neighborhood town, and I know the plight that a lot of these people escaped. But I just wanted to set the record straight.”Bartolotta isn’t alone among Republicans fighting these narratives. They’ve pushed for the rhetoric to be toned down as the city deals with a series of bomb threat hoaxes at local schools. Springfield, Ohio, has found itself thrust into the national spotlight over lies about Haitian immigrants. Focus on the major issues that affect everybody.”In Springfield, Rue said he never could have foreseen this attention from the top of his party’s presidential ticket when he won his mayoral election in November.

Persons: Bartolotta, Donald Trump, Trump, Kamala Harris ”, ”, “, ” “, Rob Rue, Melanie Flax Wilt, Sen, JD Vance, Republicans haven’t, Vance, they’ve, They’ve, “ We’ve, ” Rue, Rich, Joseph Facun, ” Trump, Wilt, Rue, he’s, ” Laura Rosenberger, Flax Wilt, you’re, Mike DeWine, DeWine, ‘, ” Bartolotta, ” Sean Logue, Logue, Brian Hughes, Joe Manning, ” Manning, I’m, we’ve, “ I’m Organizations: Republican, Facebook, NBC News, Commission, Republicans, Democratic, Charleroi —, GOP, Springfield, Trump, Washington, Dayton ., NBC News Local, Clark County Republican Party, Ohio Gov, New York Times, Washington County GOP, Pittsburgh Post, Gazette Locations: Pennsylvania, America, Charleroi, ”, Springfield , Ohio, Clark, R, Ohio, Springfield, Arizona , Georgia, Washington County , Pennsylvania, Clark County , Ohio, Pittsburgh . Springfield, Columbus, Dayton, Clark County, Bartolotta, Butler , Pennsylvania, Western Pennsylvania, Mexico, Washington County, “

☆ This US man failed Spanish in school. Now he’s running a language school in Spain
▼ + stars: | 2024-09-22 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +11 min

Ted Purdom, from San Anselmo, California, graduated in 2011 with a bachelor’s degree in English and enrolled in an overseas language program, aiming to learn Spanish. He ended up in Mallorca, the capital of the Balearic islands off the east coast of Spain, for the nine-month program. A friend told him about another program that placed American “language coaches” in Spain, called “Auxiliares de Conversación,” (conversation assistants), run by the Spanish Ministry of Education. So that November he opened The Bridge English Academy in Manacor, converting a former wine store into classrooms to give English language courses to locals. Then there’s the fact that the islanders’ first language isn’t Spanish, but Mallorquin, a dialect of Catalan.

Persons: he’d, Ted Purdom, ”, Purdom, –, “, – Lluïsa, Apollonia, Neme Jimenez, iStock, ” Purdom, Llombards, Dennis Fischer Organizations: CNN, University of Oregon, Spanish Ministry of Education, Mallorca, English Academy, San Francisco Bay Area Locations: California, Mallorca, San Anselmo , California, Balearic, Spain, Spanish, Oviedo, Asturias, Mallorca’s, Palma, Manacor, American, kickstarting, San Francisco Bay, Francisco, Bay

☆ Insider Today: Nike's airball
▼ + stars: | 2024-09-22 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. AdvertisementAn internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work.

Persons: —, Matt Turner, Donald Trump, There's, It's, it's, Elliott Hill, John Donahue, Dre Waltizer, Jeff Chiu, Alyssa Powell, Larry, Wayne Osborne, Osborne, Wayne, Andy Jassy, David X Prutting, Paul Porter, Rebecca Zisser, Alexander brothers, Oren, Alon, Tal Alexander, iStock, — Mark Zuckerberg, Taylor Swift Organizations: Service, Fed, Nike, Business, Investors, Google Locations: China, The Oregon

☆ A new ETF uses AI to emulate Warren Buffett's investment style
▼ + stars: | 2024-09-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Investment startup Intelligent Alpha is working on launching the Intelligent Omaha ETF , with the ticker AIWB, that relies on AI to emulate the Berkshire Hathaway CEO's investment philosophy and create a portfolio of 25-30 stocks that it thinks Buffett might buy. It remains to be seen how deeply AI could understand Buffett's unique investing style that has evolved significantly over seven decades. All about AI Intelligent Alpha has been testing its Buffett strategy for six months and the portfolio AI puts together would overlap Berkshire's by anywhere between 30 to 60%. "The vision for Intelligent Alpha is to build the AI-powered BlackRock," Clinton said. "There are two big pillars, serving retail investors [through Registered Investment Advisors], and then there's serving institutional investors."

Persons: Warren Buffett, Buffett, Claude —, he's, Doug Clinton, Charlie Munger's, Clinton, Stanley Druckenmiller, David Tepper Organizations: Alpha, Berkshire Hathaway, Intelligent Alpha, Apple, Livermore, Nvidia, Advisors Locations: Omaha

☆ JD Vance says he's worried about a 'death spiral' in the US bond market. Here's what he's talking about.
▼ + stars: | 2024-09-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

JD Vance warned recently of a "death spiral" in the US bond market. "Do they try to take down the Trump presidency by spiking bond rates?" AdvertisementVice Presidential candidate JD Vance worries about soaring interest rates sparking a "death spiral" in the US bond market that could ultimately "take down the finances of this country." And the only thing that really makes that serviceable is the interest rates are still pretty low. As to where US interest rates seem to be going in the near future, the answer is lower.

Persons: Vance, Trump, JD Vance, —, Tucker Carlson, Liz Truss, Steve Sosnick, Sosnick Organizations: Service, Trump, Federal, Medicare, Social Security, Bank of England, Interactive Brokers, Business Locations: China, Japan

☆ Inside the island fortress of America's mega-billionaires
▼ + stars: | 2024-09-22 | by ( Guthrie Scrimgeour | ) www.businessinsider.com time to read: +21 min

An Israeli-designed radar system encircling the island can detect passersby, in low visibility, from half a mile away. Often described as "butlers with badges," the Indian Creek police force is unlike most of its counterparts. The Indian Creek radar can detect objects on the water and use artificial intelligence to classify them according to the risk they pose. With the new security system, the Indian Creek police appear to have turbocharged their enforcement of regulations in the surrounding waters. Properties in the neighborhood are also being bought up by opaquely named LLCs tied to Indian Creek residents.

Persons: —, I've, I'm, — they're, Norman Braman's, Tom Brady, Carl Icahn, Jeff Bezos, we've, Tiffany, William Henry Hoover, Frank Woolworth, Saratta, Gerardo Vildostegui, Vildostegui, it's, Irma Braman, Bernard Klepach —, Mike Bullman, Chandan Khanna, Justin Ross, who's, Ross, Gail Golden, Javier Holtz, Marko Gojanovic, Gojanovic, he's, Dina Goldentayer, Don Shula, opaquely, LLCs, Julio Iglesias, Surfside, Tim Will, Will, America's, Elon Musk, you'd, there's, Brian Daniel, Low, John Bernardo, Klepach, Guthrie Organizations: Public Space Research, City University of New, Indian, Jewish, Indian Creek Country, Security Solutions, Police, Getty, Biscayne, Indian Creek Police, Marquis Bank, Miami Dolphins, BI, CUNY Locations: Indian, Biscayne Bay, America, Miami, Qatar, Israeli, City University of New York, Florida, Surfside, Surfside's, York City, United Kingdom, Japan, Germany, India, stoke, Washington , DC

☆ Election experts raise alarms about vote counting delays in battleground states
▼ + stars: | 2024-09-22 | by ( Fredreka Schouten | Sara Murray | ) edition.cnn.com time to read: +14 min

Election observers worry that delays in counting mail ballots could give the public a false sense of who’s winning the election. In Wisconsin and Pennsylvania, election officials are still barred from beginning to process mail ballots before 7 a.m. on Election Day – even though election workers in both states have clamored for change. Georgia's State Election Board members discuss proposals for election rule changes at the State Capitol in Atlanta on September 20, 2024. The new law could delay by an hour or more – depending on the county – the posting of unofficial early results, state election officials have said. In Maricopa County, the general election ballot covers both sides of two pages – twice the length of the ballot voters encountered four years ago.

Persons: CNN —, Seth Bluestein, Ann Jacobs, “, Al Schmidt, Donald Trump, Chris McGrath, Joe Biden, Donald Trump baselessly, Rudy Giuliani, Biden, Trump, ” Jacobs, parroting, Daniel Acker, ” Schmidt, ”, Jacobs, David Becker, Sen, Jeremy Moss, Moss, Mike Stewart, Harris, “ It’s, Karen Brinson Bell, I’ll, won’t, Robyn Beck, Stephen Richer, ” Richer, Katie Hobbs, Jennifer Liewer, Liewer, “ We’ve, ” CNN’s Ethan Cohen, Marshall Cohen, Jason Morris Organizations: CNN, Republican, Democratic, Keystone State, ” Police, Philadelphia Convention Center, White, Democratic Milwaukee, Biden, Wisconsin State Assembly, Trump, Reuters, ”, Workers, US, Department, Election Innovation, Research, National Conference of State Legislatures, Democratic Detroit, Capitol, Michigan Senate, State Capitol, North Carolina State Board, Getty, Republicans, Gov, Democrat Locations: Pennsylvania, Philadelphia, “, Wisconsin, Georgia, Keystone, Democratic, Kenosha , Wisconsin, Michigan, Detroit, Atlanta, North Carolina, Phoenix, AFP, Arizona, Maricopa County, Maricopa

☆ Quad group expands maritime security cooperation at Biden's farewell summit
▼ + stars: | 2024-09-22 | by ( ) www.cnbc.com time to read: +5 min

US Secretary of State Antony Blinken (R) prepares to pose for a group photo with Australia's Foreign Minister Penny Wong (2nd R), Japan's Foreign Minister Yoko Kamikawa (2nd L) and India's Foreign Minister Subrahmanyam Jaishankar (L) at the start of their Quad Ministerial Meeting at the Iikura Guest House in Tokyo on July 29, 2024. The leaders announced joint coast guard operations next year that will include Australian, Japanese and Indian personnel spending time on a U.S. coast guard vessel. The leaders' joint statement included sharp language about North Korea, condemning its ballistic missile launches and "malicious cyber activity." "But I think China's recent maritime aggression could be changing the equation for India and could be prompting India to become a bit more open to the idea of Quad security cooperation," she said. Before the summit, Albanese met with Biden at his home and discussed bilateral cooperation between the two close allies across defense and security, including in the Indo-Pacific.

Persons: Antony Blinken, Penny Wong, Yoko Kamikawa, Subrahmanyam Jaishankar, Joe Biden, Biden, Fumio Kishida, Narendra Modi, Anthony Albanese, Xi Jinping, he's, Lisa Curtis, Kishida, Modi, Albanese, Donald Trump, Kamala Harris Organizations: Australia's Foreign, Japan's, India's, of, Indian, Australian, Pacific Partnership, Maritime Domain, House, Analysts, East China Seas, East China, U.S, China, Center, New, New American Security, congressional Locations: Tokyo, of Australia, India, Japan, United States, China, Delaware, U.S, Beijing, South China, South, East, Taiwan, Philippines, Brunei, Malaysia, Vietnam, North Korea, Islands, Southeast Asia, Asia, New American, Australia, Philadelphia

Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley's artificial intelligence darlings. In the past year, funding for AI companies by Middle-Eastern sovereigns has increased fivefold, according to data from Pitchbook. Few venture funds have deep enough pockets to compete with the multibillion-dollar checks coming from the likes of Microsoft and Amazon . MGX was launched as a dedicated AI fund in March, with Abu Dhabi's Mubadala and AI firm G42 as founding partners. For the U.S., having sovereign wealth funds invest in American companies, and not in global adversaries like China, has been a geopolitical priority.

Persons: Goldman Sachs, Prince Mohammed bin Salman's, Uber, LIV, UAE's Mubadala, MGX, Abu Dhabi's Mubadala, Anthropic, Andreessen Horowitz, Jamal Khashoggi, It's, Bpifrance, WeWork spiraled, Jared Cohen, there's Organizations: United, CNBC, Microsoft, Gulf Cooperation Council, Saudi Public Investment Fund, Abu, Abu Dhabi Investment Authority, Qatar Investment Authority, BlackRock, Global Infrastructure Partners, Saudi, U.S, Saudi Company, Artificial Intelligence, Washington Post, SoftBank, Goldman Sachs Global Institute Locations: Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Pitchbook, Abu Dhabi, Temasek, Singapore, China, UAE

☆ Rich Paul once worked in a convenience store—now he's an NBA super agent who represents LeBron James
▼ + stars: | 2024-09-22 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

NBA super agent and founder of Klutch Sports Group Rich Paul knows there are certain people who believe he's only achieved what he has today because of his more than 20-year friendship with LeBron James. But the 43-year-old says he has been building up to this success all his life. "Many people think, 'He was LeBron's friend, LeBron gave him a job,'" Paul said during an appearance at CNBC x Boardroom's Game Plan Summit. Instead, Paul told the audience, it took years of hard work with "a lot of sacrifices made" to get to where he is today. Paul credited his success to the example his dad set running a convenience store, working "for the lowest margins you could ever imagine."

Persons: Rich Paul, he's, LeBron James, LeBron, Paul Organizations: NBA, Klutch Sports, CNBC

☆ Google CEO Sundar Pichai says AI will advance humanity in these 4 key ways
▼ + stars: | 2024-09-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Google CEO Sundar Pichai spoke about AI's potential at the UN's Summit of the Future. Pichai said AI will help sustainable development, scientific discovery, and climate action. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBig Tech companies like Google are betting that AI technology will help them earn billions in profits, and they're funneling tons of resources toward the technology.

Persons: Sundar Pichai, Pichai, — Organizations: UN's, Google, Service, Big Tech, Business

☆ How rich Americans use life insurance to save on taxes and protect their kids' inheritance with this neat trick
▼ + stars: | 2024-09-22 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But there is an alternative to a fire sale: They can use life insurance to foot the bill with a neat trick. Instead of owning a life insurance policy directly, they take out a policy and put it inside a trust. The irrevocable life insurance trust (ILIT) collects the death benefit, pays the tax bill, and distributes whatever is left according to the insured individual's wishes. For an ultra-rich taxpayer with a $10 million life insurance policy, using an ILIT could save $4 million in taxes. Make sure you're getting a life insurance policy that makes financial sense.

Persons: —, Sam, Robert Strauss, Weinstock Manion, Dan Griffith, Griffith, Strauss, it's, ILITs, Kate Maier Organizations: Service, Business, Huntington Bank, IRS

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