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☆ Rich parents want to give to charity and leave more money to their kids. Here's how billionaire families do it.
▼ + stars: | 2024-01-29 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +8 min

Read previewWhen the rich give to charity, they find a way to get the most bang for their buck. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.

Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, CLATs, Alice, Jim Walton, Rick T, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Walmart, Bank of America Private Bank Locations: Withersworldwide, CLTs, Fayetteville , Arkansas, Israel, Palestine

☆ Inside the Trust Women abortion clinic in Wichita, Kansas, which saw a spike in out-of-state patients after Roe was overturned
▼ + stars: | 2024-01-26 | by ( Maiya Focht | ) www.businessinsider.com time to read: +18 min

I met Kattie in the waiting room of the Trust Women abortion clinic. Finally, she looked north and found Trust Women in Wichita, Kansas, where I first met her on a drizzly November day. How Trust Women went from a catchphrase to a clinicTrust Women sits near a main road in Wichita, Kansas. 'Screw Texas'Kiernan, the director of nursing at Trust Women, has tattoos of plants that have been historically used as birth control. That has meant clinics like Trust Women receive a large number of out-of-state travelers, especially from southern neighbors like Oklahoma and Texas.

Persons: —, Kattie, she'd, Focht, Maiya, George Tiller, Tiller, Zack Gingrich, Gingrich, Gaylord, Roe, Wade, Kiernan, Texas, Dobbs, they're, I'm, telemedicine, Madison, Stormi, Kate Cox, Brittany Watts, Jennifer Kerns, Rachel O'Leary Carmona, Women's, Gaylor, Kerns, It's, O'Leary Carmona Organizations: Service, Business, Gaylord, Trust, Jackson, Health Organization, Trust Women, Texas Supreme, Centers for Disease Control, Women, University of California, OB Locations: Houston , Texas, Wichita , Kansas, Women's, Kansas, Oklahoma City, Oklahoma, State, Dobbs, Texas, Madison, Kansans, Texas . Wichita, Houston, Wichita, Kentucky, Ohio, San Francisco, UCSF, Kattie

☆ Jim Cramer says it's time for investors to take some profits, 'it's the disciplined thing to do'
▼ + stars: | 2024-01-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said the market's had a significant run, and it may be time to ring the register. Cramer reflected on the CNBC Investing Club's decision to sell all of the Charitable Trust's shares of Caterpillar . The trust bought Caterpillar stock in part due to the assumption the Fed would implement several rate cuts, which usually bodes well for industrials. According to Cramer, stock dips for PayPal and ServiceNow may signal losses for other stocks previously bolstered by AI initiatives. "It means you need to do some trimming, purely because your profits don't count until you ring the register."

Persons: CNBC's Jim Cramer, Cramer, Alex Chriss Organizations: CNBC, Caterpillar . Dupont, Caterpillar, PayPal

☆ A Colorado pastor accused of pocketing $1.3 million in cryptocurrency scam says the Lord encouraged him to use funds for a home remodel
▼ + stars: | 2024-01-24 | by ( Hannah Getahun | Jessica Orwig | ) www.businessinsider.com time to read: +6 min

Regalado also said the Lord told him to use investor funds to remodel his home. Related stories"It was last October '21 that the Lord brought this cryptocurrency to me," Regalado told his congregation over video broadcast, per court documents. AdvertisementRegalado addressed why he valued the coins at 10 times the amount: The Lord told him to. I really believe you're going to see a miracle in very short order," Regalado told investors in a video call, per the lawsuit. The lawsuit claims the Regalados told investors they were sowing this money into charitable causes.

Persons: Eli Regalado, Regalado, —, Kaitlyn Regalado, Tung Chan, Chan, God, Kaitlyn, Grace, Regalados, INDXcoin, …, David Goldberg Organizations: Service, Court, Colorado Securities, Colorado Department of Regulatory, IRS, Business, Wealth, Wealth Exchange, Rover Locations: Colorado, Denver, INDXcoin

☆ How the superrich, like Walmart's Waltons, get richer by using trusts to give to charity and save on tax
▼ + stars: | 2024-01-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

If the calculations predict that the trust's remainder interest is zero, the beneficiaries are exempt from estate tax even if the assets actually appreciate by a greater amount. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.

Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Bank of America Private Bank Locations: Withersworldwide, CLTs, Israel, Palestine

☆ Meet CenterBook Partners, the hedge fund powered by intel from dozens of other managers
▼ + stars: | 2024-01-22 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

That dozens of funds — the firm currently has 28 different partner funds that feed data into the strategy plus a waitlist of five other managers — would share their holdings is novel. The average hedge fund was up 7.5%, according to Hedge Fund Research. The managers who have partnered with CenterBook, Stemerman said, have a long time horizon — think months instead of days — on their trades, so the edge isn't lost if CenterBook also makes the same trade in its book. CenterBook, if assets grow as expected, aims to bring on another 10 partner funds this year, the source close to management tells Business Insider. While the manager has only 18 full-time employees, its partner funds have more than 100 investment analysts working at them.

Persons: David Stemerman, Steve Mandel's Lone, Conatus, CenterBook, Stemerman, —, tearsheet, hadn't Organizations: Business, Connecticut's, Alpha, CenterBook, Global Alpha, Fund, Citadel, Apple Locations: Charlotte, Lone

(AP) — A federal appeals court has ordered the appointment of an independent examiner in the bankruptcy case of FTX amid concerns about widespread fraud preceding the collapse of the multibillion-dollar cryptocurrency exchange. A three-judge panel in Philadelphia issued the ruling Friday in an appeal filed by the U.S. bankruptcy trustee, who serves as a government watchdog in Chapter 11 reorganizations. U.S. Bankruptcy Judge John Dorsey denied the trustee’s request last February. The appeals court reversed Dorsey’s ruling, agreeing with the trustee that the bankruptcy code mandates the appointment of an examiner. “Such is the case here.”Restrepo also noted that an examiner is required to make his or her findings public, whereas a debtor or creditors committee conducting an internal investigation has no such obligation.

Persons: John Dorsey, Dorsey, John Ray III, FTX, Sam Bankman, Fried, Prosecutors, ”, Luis Felipe Restrepo, ” Restrepo Organizations: —, U.S, FTX, Alameda Research Locations: Del, Philadelphia, FTX

☆ ‘America Is Under Attack’: Inside the Anti-D.E.I. Crusade
▼ + stars: | 2024-01-20 | by ( Nicholas Confessore | ) www.nytimes.com time to read: +44 min

‘America Is Under Attack’: Inside the Anti-D.E.I. “In support of ridding schools of C.R.T., the Right argues that we want nonpolitical education,” Mr. Klingenstein wrote in August 2021. In a 2023 exchange, Dr. Yenor and two associates discussed how to defend Amy Wax, a conservative law professor at the University of Pennsylvania. Dr. Yenor and his allies bristled at the conventions of academic life as overly solicitous toward female and nonwhite students. Samuel Ginn, Claremont donor“The president then told him, ‘Things will change,’” a Claremont fund-raiser wrote to Dr. Yenor and other officials there.

Persons: “ wokeism ”, Chancellor Sharp, Sam Ginn, DeSantis, !, Searle, Scott Yenor's, Alabama Jeff Sessions, peter thiel, thiel, Dan Patrick, Patrick, Texas Long, Claudine Gay, Harvard’s, Trump, Ron DeSantis, Peter Thiel, Heather Mac Donald, ”, Scott Yenor, “, ” Scott Yenor, Claremont, Critics, George Floyd, Donald J, Trump’s, Thomas D, Thomas Klingentstein, ” Mr, Klingenstein, Yenor, Christopher Rufo, fromScott Yenor, Floyd, Mao Zedong’s, Ryan P, Williams, Jack Miller, Ryan Williams, Miller, zealots, Mao Zedong's, ” Claremont, Taube, tothe, Arthur N, Chris Ross, Dockweiler, Elizabeth Ailes, Roger Ailes, Daniel C, Searles, fromChris Ross Ryan, I'd, Dorian Abbot, Mr, Ross, Dr, Amy Wax, Wax, Wax’s, David Azerrad, . Azerrad, fromScott, Azerrad, —, ’, Mac Donald, Mac Donald1 —, fromDavid Azerrad Heather, that's, Thiel —, Thiel’s, bristled, Riffing, Bill Burr, hadn’t, Burr, George W, Bush, ” Tennessee’s, Susan Kaestner, Jeff Sessions, Samuel Ginn, Christopher B, Roberts, Roberts “, Ginn, ” Bowdoin, Thomas Klingenstein, Janet Mills, Mills, ‘, Sarah Huckabee Sanders, Kevin Stitt, he’d, fromThomas, Glenn, sputtered, retool, didn’t, Jim Banks, Banks’s, Banks, Gay, Elise Stefanik Organizations: MIT, Trust, Texas, Claremont, Republicans, Senate, The New York Times, Republican, Claremont Institute, Gov, D.E.I, New, Manhattan Institute, Maine Policy Institute, ”, Texas Public Policy Foundation, Equity, Jack Miller Family, Jack Miller Family Foundation America, Capitol, Freedom Trust, Rupe Foundation, Scaife, Fox News, Massachusetts Institute of Technology, University of Pennsylvania, Hillsdale College, Boise State University, Boise, University of Wisconsin, Eau Claire, Trump, Boise State, University of Tennessee, Arkansas, Alabama, Auburn University, University of Alabama, Auburn, Bowdoin College in, NAS, Bowdoin, Democratic, Mr, Maine Public Radio, American, Association, Maine Department of Education, Indiana Republican, Education, Harvard, New York Republican Locations: Texas, Tennessee, North Carolina, Maine, Montana , Utah , Oklahoma , Texas, South Carolina , Florida, Louisiana, America, defund, Alabama, Tallahassee, Union, California, Florida, Maine , Tennessee, Idaho, New York, Florida , Louisiana, North Carolina , Oklahoma , Tennessee, Wisconsin, Darling, Dallas, Utah, C.R.T, United States, Hillsdale, Eau, India, Boise State, Boise, Manhattan, Canadian, Dixie, Maine —, Bowdoin College in Maine, Colonial America, ”, Maine’s, la, Portland, Northern Maine, Arkansas, Yenor, Indiana, Israel

☆ Indian Devotees Splurge on Jets, Gold Idols as Hindu Temple Opens
▼ + stars: | 2024-01-19 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

Indian Prime Minister Narendra Modi and Asia's richest man Mukesh Ambani are among the 8,000 or so attendees at Monday's inauguration event for the Ram Temple, which devotees believe is built on the birthplace of Lord Ram, a sacred Hindu deity. Officials estimate 100 private jets will descend on Jan. 22 on Ayodhya airport, filling it to capacity. Mehra did not disclose the price of the charters, but private jet booking website JetSetGo lists the price of a Mumbai-Gorakhpur flight on a Falcon 2000 jet with nine passengers on board at about $74,000. There is a waiting period of two weeks," said Baldev Singh, a manager at HS Jewellers in Lucknow city. "People are betting on economic prosperity but there's also emotional attachment to be part of the Ayodhya story."

Persons: Saurabh Sharma, Tanvi Mehta, Narendra Modi, Mukesh Ambani, Lord Ram, Modi, It's, Rajan Mehra, Mehra, Baldev Singh, Amitabh Bachchan, Abhinandan, Abhinandan Lodha, Aditya Kalra Organizations: Indian, Ram, Bharatiya Janata Party, Dassault, Reuters Locations: Tanvi Mehta AYODHYA, India, Ayodhya, Varanasi, Gorakhpur, Mumbai, Thailand, Lucknow city

☆ Julie and Jake flirted their way through Netflix's 'The Trust,' but did they actually date after filming? Here's what we know about their relationship today
▼ + stars: | 2024-01-19 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +3 min

Julie Theis and Jake Chocholous started to build a romantic rapport in the first several episodes of "The Trust." And in turn, it started to affect the game: In episode three, Julie chooses to vote to eliminate Simone, fearing that Jay is going to vote Jake out. Eventually, Julie chooses to disclose some of that information to Jake, leading the other women to begin to distrust her. Jake and Julie are playing coy about their relationship on InstagramBoth Jake and Julie still follow each other on Instagram ahead of the finale, but they're being coy about the status of their relationship. @jakechocholous/InstagramAnother follower explicitly asked him whether or not he had a relationship with Julie.

Persons: —, Julie Theis, Jake Chocholous, Jake, Julie, Simone, Jay, she's, Jake hasn't, coy, Jake nodded Organizations: Service, Business, coy, Netflix, Cosmopolitan

☆ Bryce Lee, the controversial millionaire contestant on Netflix's 'The Trust,' apparently went on the show not realizing he was competing for money
▼ + stars: | 2024-01-19 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +7 min

Bryce Lee, a real-estate agent, competed in Netflix's new reality show despite already being a millionaire. Lee told Business Insider he was unaware of the $250,000 prize when he signed up. Advertisement"The Trust" contestant Bryce Lee faced backlash from his fellow competitors after revealing midway through the season that he was already a millionaire. Lee told Business Insider that he was sought out by the casting team of "The Trust" but was not told about the conditions of the game. Courtesy of NetflixYou didn't reveal you were the secret millionaire until episode four.

Persons: Bryce Lee, Lee, —, Brooke Baldwin, they're, doesn't, Jake Chocolous, there's, I've, Julie Theis, Julie, Theis, didn't, that's, Netflix didn't Organizations: Business, Service, Netflix Locations: Washington

☆ What to know about Bryan Spears, the older brother of Britney Spears, and his relationship with the pop star
▼ + stars: | 2024-01-19 | by ( Esme Mazzeo | Palmer Haasch | ) www.businessinsider.com time to read: +6 min

AdvertisementWhen did Bryan Spears work for Britney Spears? Britney Spears with her father Jamie (left), brother Bryan, and mother Lynne at the Palms Casino Resort in Las Vegas in 2006. Did Bryan Spears make money off of Britney Spears' conservatorship? Britney Spears and Bryan Spears. What is Britney Spears' relationship with her brother Bryan like today?

Persons: —, Britney Spears, Bryan Spears, Jamie Spears, Britney, Bryan, Jamie, Lynne, Chris Farina, Corbis, Getty Images Bryan, Elizabeth Arden, Jamie Lynn Spears, Jamie Lynn's, Mathew Imaging, Christopher Polk, Lynne Spears, Jamie Lynn, She's, Sam Asghari, Little, He's, who's, Lexie, Jayden James, Sean Preston, ichael Buckner, Graciella Sanchez, Sophia, Spears, Sanchez, influencer Amber Lynn Conklin, Bryan Spears didn't Organizations: Service, Business, Getty Images, Nashville, NBC, Variety, Penske Media, Getty Locations: Palms, Las Vegas, Washington, Asghari, Los Angeles

☆ Biden downplays his disagreement with Netanyahu over possibility of a postwar Palestinian state
▼ + stars: | 2024-01-19 | by ( Kevin Liptak | Mj Lee | ) edition.cnn.com time to read: +7 min

“I’ll let you know when I get him to agree,” Biden told reporters. Biden suggested to reporters Friday that one solution would be the creation of a Palestinian state without its own military. “I think there’s ways in which this could work.”Biden raised the imperative of an eventual Palestinian state with Netanyahu during their telephone call earlier in the day. The administration simply did not believe that publicly shaming Netanyahu and his government, and their war decisions, would be constructive. On Friday, senior administration officials sought to downplay Netanyahu’s most recent rejection of the idea of a Palestinian state, insisting he had said as much publicly in the past.

Persons: Joe Biden, Benjamin Netanyahu, Biden, Netanyahu, “ I’ll, ” Biden, Antony Blinken, —, “, won’t, ”, Biden “, we’re, John Kirby, Gadi Eisenkot, ” Eisenkot, – Israel, shaming Netanyahu, Kirby, “ We’re, We’ve, ” Kirby Organizations: Washington CNN, American, UN, National Security, Hamas, Channel, United, US Locations: Gaza, Israel, Palestinian, Jordan, Tel Aviv, White, United States

(AP) — Many students at a historically Black college in Missouri returned from Christmas break this week dressed in black, mourning the suicide of a beloved administrator who had alleged bullying and racism by the school's white president. Today, a white president at an HBCU is a rarity, she said. Just 30 miles (50 kilometers) from Lincoln University, anti-racism protests erupted at the University of Missouri’s Columbia campus in 2015, forcing that school’s president to resign. One Black student at the overwhelmingly white campus went on a weeklong hunger strike. Friends of Candia-Bailey said Moseley was never a good fit to lead the historically Black university.

Persons: Antoinette Bonnie Candia, John Moseley, Moseley, ”, Xoe Binford, Victor Pasley, Monica Graham, Bailey, Graham, ” Candia, ” Moseley, Marybeth Gasman, of, Eric Malone, “, wasn’t, ” Kendra Perry, ” Perry, Candia, Pasley, ” Pasley, Cierra Tillman, ” Tillman, Perry, Bonnie, ” ___ Hollingsworth Organizations: JEFFERSON CITY, Lincoln University, University, Rutgers University, Bluefield, Harvard University, U.S, Supreme, University of Missouri’s Columbia, Lincoln, ”, Associated Press Locations: Mo, Missouri, Jefferson City, Lincoln, Candia, Black, Bluefield State, West Virginia, Mission , Kansas

☆ Thursday, Jan. 18, 2024: Cramer on why the Trust exited its position in this healthcare stock
▼ + stars: | 2024-01-18 | by ( Delon Thornton | ) www.cnbc.com time to read: 1 min

Thursday, Jan. 18, 2024: Cramer on why the Trust exited its position in this healthcare stockJim and Jeff discuss why the Investing Club is closely watching AI strategy among the 'Magnificent 7' companies. They also take a deep dive into streaming media stocks outlook. Finally, they discuss this health care stock that is down after 2023 Q4 warnings.

Persons: Cramer, Jeff

☆ Singapore transport minister resigns after being charged with corruption in a first for the city state
▼ + stars: | 2024-01-18 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —Singapore’s Transport Minister S. Iswaran has resigned after being charged with corruption on Thursday, the prime minister’s office said, confirming a historic development for a city state that prides itself on having a squeaky-clean government. The charges against Iswaran are part of the biggest corruption probe to engulf Singapore’s ruling People’s Action Party (PAP) in decades. Singapore’s anti-graft agency, the Corrupt Practices Investigation Bureau (CPIB), which reports directly to Prime Minister Lee Hsien Loong, has been leading investigations into Iswaran’s case. Lee is the eldest son of Lee Kuan Yew, Singapore’s first prime minister and founding father. The corruption probe into Ong and Iswaran comes at a sensitive time for Lee as he plans to step aside after nearly 20 years leading the country.

Persons: Iswaran, Tan Kiat Pheng, Ong Beng Seng, Ong, Lee Hsien Loong, Lee, ” Lee, Lee Kuan Yew, Singapore’s, ” Eugene Tan, ” Organizations: CNN, Singapore’s, Iswaran, Action Party, Singapore, Prix, Practices, Party, Government, Ong, Singapore Management University Locations: Singapore

Carroll is due to testify Wednesday in the second federal civil trial over her claims against Trump, who denies them all. Because the first jury found that Trump sexually abused Carroll in the 1990s and then defamed her in 2022, the new trial concerns only how much more — if anything — he'll be ordered to pay her for some other remarks. Political Cartoons View All 253 ImagesBut Carroll, an advice columnist and magazine writer, has said that Trump harmed her deeply. Trump asserts that nothing ever happened between him and Carroll, indeed that he has never even met her. The Associated Press typically does not name people who say they have been sexually assaulted unless they come forward publicly, as Carroll has done.

Persons: Donald Trump, E, Jean Carroll, Carroll, Trump, “, ”, ” Carroll, Jean ”, Elle, wasn’t, Shawn Crowley, Alina Habba, Habba, There's, ” Trump, Carroll hadn’t, Jennifer Peltz Organizations: Trump, Republican, Elle, Associated Press, Associated Locations: New Hampshire

☆ My secret to traveling on a budget costs $129 a year. I've used it to stay in waterfront homes and mansions for free.
▼ + stars: | 2024-01-15 | by ( Courtenay Rudzinski | ) www.businessinsider.com time to read: +5 min

I got my gigs with Trusted Housesitters, an international house-sitting platform that's $129 a year. The answer came to me when several avid travelers in my online groups suggested I try Trusted Housesitters, an international house-sitting and pet-sitting platform. Joining seemed like a great travel hack to stay almost anywhere for free. Now that I've done over 20 successful sits, owners often skip this step and book me based on my application alone. AdvertisementI'm thrilled I discovered Trusted Housesitters, and I plan to use it well into my retirement years.

Persons: —, Housesitters Courtenay Rudzinski, I'd, they'd, Courtenay, Courtenay Rudzinski, Jack Russell Terrier, I've, Courtenay Rudzinski I've, I'm Organizations: Service Locations: East Coast, penthouses, Texas, Maine, Houston, Freeport, East, Asheville, North Carolina, Virginia, New Jersey, New York City, Vermont

There was one answer, he said, that would always be acceptable in his class filled with second-year students at the U.S. Military Academy. President Joe Biden, in his first campaign address of the year, warned about Trump's rhetoric on the military and its leadership. With cadets and midshipmen drawn from across the United States, students at West Point and other service academies are aware of the national mood and the potential for political divisions to seep into the military. At West Point, the Constitution and the oaths are not only embedded throughout the curriculum, they also permeate the campus. Avoiding it would not be an option, said Reeves, whose family ties to West Point date to the 19th century.

Persons: Joe Amoroso quizzed, ”, ” Amoroso, It’s, Trump, Mark Milley, Joe Biden, Milley, Marybeth Ulrich, Darrell Miller, Democrat Biden, Miller, “, Bryan Agustin, Ulysses S, Grant, Dwight D, Eisenhower, Shane Reeves, Jan, Reeves, Biden, – Organizations: U.S . Military Academy, Hesitantly, Joint Chiefs of Staff, West, Trump, Air Force Academy, U.S . Capitol, Civil, Military Relations, Space Force, Buckley Space Force Base, Democrat, Republican Trump, Defense, Goodfellow Air Force Base, Union Army, 101st Airborne, Central High School, GOP, Associated Press, AP Locations: United States, Denver, Texas, West, Little Rock , Arkansas, Brig

☆ Media executives urge Congress to enact legislation to prevent AI models from training on ‘stolen goods’
▼ + stars: | 2024-01-10 | by ( Liam Reilly | ) edition.cnn.com time to read: +4 min

Roger Lynch, Condé Nast’s chief executive, told senators that current AI models were built using “stolen goods,” with chatbots scraping and displaying news articles from publishers without their permission or compensation. News organizations, Lynch said, seldom have a say in whether their content is used to train AI or is output by the models. To avoid the pilfering of news publishers’ content and, thereby, their coffers, Lynch proposed AI companies use licensed content and compensate publishers for content being used for training and output. Coffey also noted AI models have introduced inaccuracies and produced so-called hallucinations after scraping content from less-than-reputable sources — which runs the risk of misinforming the public or ruining a publication’s reputation. “The risk of low-quality [generative] AI content dominating the internet is amplified by the drastic economic decline of news publications over the past two decades,” Coffey said.

Persons: ChatGPT, Roger Lynch, Condé, Lynch, ”, they’ve, Sarah Silverman, Margaret Atwood, Dan Brown, Michael Chabon, Jonathan Franzen, George R, Martin, ” Lynch, Danielle Coffey, Coffey, ” Coffey, ” Curtis LeGeyt, ” LeGeyt Organizations: CNN, The New York Times, News Media Alliance, National Association of Broadcasters

☆ Shadow bank Zhongzhi files for bankruptcy as China's debt and property crisis deepens
▼ + stars: | 2024-01-08 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Shadow banks in China operate by pooling household and corporate savings to offer loans to invest in real estate, stocks, bonds, and commodities. Companies such as Zhongzhi have often financed many large Chinese property developers. Hong Kong listed shares of property firms including Logan Group, China Vanke, Sunac and Longfor Group dropped between 2% and 3.6%. More pain for shadow banks? China's government has in the last few years tried to limit the rapid growth of non-bank debt issued by shadow banks.

Persons: Zhongzhi, Commerzbank, Zerlina Zeng, CNBC's Organizations: Zhongzhi Enterprise, Reuters, Beijing, CSI, Logan Group, Longfor, CreditSights Locations: HANGZHOU, CHINA, Hangzhou City, Zhejiang Province, China, Hong Kong

☆ Salesforce markets itself as an AI company customers can trust. Customers aren't buying it yet.
▼ + stars: | 2023-12-18 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +5 min

Salesforce has moved slowly on AI, RBC Capital Markets managing director Rishi Jaluria told Insider — at least that's what the company's partners and customers told him. One said they were encouraging customers to start first with Einstein, the original AI product Salesforce launched in 2016, before adding new generative-AI services to their bills. The question was the first of many moments during the conference when a Salesforce executive brought up trust and safety when talking about generative AI. Despite that, Salesforce continues to invest in other companies via its venture arm, which includes a $500 million Generative AI fund. Jaluria said that with the exception of Microsoft, he doesn't expect software companies to see meaningful revenue gains from generative AI until at least 2025.

Persons: Salesforce, Rishi Jaluria, —, Jaluria, they've, Einstein, Matthew McConaughey, pensively, Patrick Stokes, Salesforce's, Stokes, it's, There's, John Somorjai, McKinsey's, Somorjai, Ellen Thomas Organizations: Company, Business, RBC Capital Markets, World, Salesforce Ventures, Microsoft Locations: New York, ethomas@insider.com

☆ Deloitte's Kwasi Mitchell on 2024: It's our job to make college students less nervous about the future of work
▼ + stars: | 2023-12-18 | by ( Josée Rose | ) www.businessinsider.com time to read: +8 min

I first spoke to Kwasi Mitchell, Deloitte's first chief purpose officer, in March about change in corporate America. For one, his role evolved from broadly touching on sustainability, equity, and social impact to overseeing all DEI — diversity, equity and inclusion — responsibilities at the consulting firm. Mitchell's insights are part of Business Insider's year-end leadership package, "Looking Ahead 2024," which digs into vision, strategy, and challenges across corporate America. I distinctly remember sitting across the table, starting to work with our collaborators on what actually could this be. Having a coalescing force with a few organizations to drive momentum could be really really interesting and impactful in the future.

Persons: Kwasi Mitchell, Deloitte's, Mitchell, there's, He's, we've Organizations: Service, DEI Institute, Deloitte, Economic, San Francisco Chamber of Commerce Locations: America, Business, San Francisco, Francisco, Ukraine, Israel, Palestine

☆ What it really means to work smarter, not harder
▼ + stars: | 2023-12-13 | by ( Henry Blodget | ) www.businessinsider.com time to read: +7 min

Read previewOne of the most common pieces of career advice is to "work hard." This advice is common because it's sound: You rarely meet successful people who don't work hard — or, at least, have never worked hard. AdvertisementSo you have to work smart in addition to hard. In a future article, I'll talk more about how to "work smart" in your current job. How to work smarter, not just harderLet's say you think you want to have a career in the restaurant business and the only job you can get is "dishwasher."

Persons: —, I've, you'll Organizations: Service, Business

☆ Morning Bid: Small caps pick up baton, China rating hit
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +6 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The likes of Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O) and Amazon (AMZN.O) fell back over 1%, pressured by a modest bounceback in U.S. Treasury yields. China's blue-chip stocks slumped to their lowest since February 2019 amid fears of a possible cut to China's sovereign credit rating cut after Moody's outlook reduction. By Mike Dolan, Editing by Bernadette Baum; <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>Our Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Russell, that's, Moody's, Isabel Schnabel, Michael Gibson, Christine Laggard, Mongo, Zero Fox, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Reserve, Microsoft, Apple, Nvidia, Treasury, Reserve Bank of Australia, Central Bank, Reuters, ECB, Barclays, Qatar, P Global, Federal, Division, Supervision, Financial Innovation, Descartes Systems, Health, Powell Industries, Dave, Buster's Entertainment, Reuters Graphics, Thomson Locations: New York City, U.S, Global, York, Treasuries, Europe

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