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☆ How Serious is No Labels? - The New York Times
▼ + stars: | 2023-07-20 | by ( Katherine Miller | ) www.nytimes.com time to read: +3 min

No Labels is this last refuge, a resting place inside and outside the two parties and a half-finished Washington dreamscape. This fact is the firm but vibrating floor beneath the No Labels project and the panic it has produced — the recognition that we’re approaching a 2024 election that will make American voters unhappy. Unhappy enough to vote for a mystery unity ticket, only on the principle of their unhappiness? I don’t know that the electoral effects of No Labels are as clear as people say. And No Labels is here to take advantage of that sadness with a half-finished idea.

Persons: Brad Schneider of, “, Brad Schneider, ”, Huntsman, I’ve, They’re, That’s, ’, ‘ I’ve, there’s, Manchin, Larry Hogan, Biden Organizations: U.S . Rep, Washington dreamscape, Republican, Republican Party, Biden, Trump, Mr Locations: Brad Schneider of Illinois, China, Russia, New Hampshire, Atlanta, Colorado, Maryland, America

[1/2] A view shows a cooked piece of cultivated chicken breast created at the Upside Foods plant, where lab-grown meat is cultivated, in Emeryville, California, U.S. January 11, 2023. Difficulty competing with conventional meat on price has plagued the plant-based meat sector, which has failed to meet market share expectations. To be price competitive, cultivated meat must reach a production cost of $2.92 per pound, Goncalves said. Last year, governments spent about $635 million on alternative proteins, about $167 million of which was for cultivated meat, according to the group. China Chilcano's chefs said the product behaved very similarly to conventional chicken and offered some improvements, like rapid absorption of marinades.

Persons: Peter DaSilva, Matthew Walker, Leticia Goncalves, Goncalves, Andrew Noyes, Jose Andres's, Gustavo Burger, Believer, Steve Cahillane, Alan Grublauskas, Noyes, chefs, Leah Douglas, Tom Polansek, Josie Kao Organizations: REUTERS, WASHINGTON, U.S . Department of Agriculture, Food and Drug Administration, S2G Ventures, Daniels, Midland, Washington , D.C, Food Institute, Kellogg, Reuters, Food Forum, Thomson Locations: Emeryville , California, U.S, Jose Andres's China, Washington ,, Chicago, China, San Francisco, Washington

☆ A Year of Upheaval on Abortion’s Front Lines
▼ + stars: | 2023-07-20 | by ( Kate Kelly | Marisa Schwartz Taylor | ) www.nytimes.com time to read: +14 min

Erica’s pilots that day were volunteers with Elevated Access, a nonprofit set up last year to help people obtain abortions, often across state lines. In North Carolina, an anti-abortion, church-backed pregnancy center called Mountain Area Pregnancy Services confronted a harassment incident. Before Dobbs, the group’s abortion services operated on a budget of $20,000 per month. But the dearth of pharmacies willing to offer abortion medication meant that Honeybee soon became the main provider of the online-ordered, home-delivered pills. Abortion medication — which now accounts for more than half of abortions in the United States — produces roughly 40 percent of Honeybee’s revenue.

Persons: Wade, Health “, ”, Maren Hurley, Hey Jane, Jenice Fountain, Julia Rendleman, The New York Times Erica, ” Erica, Erica, Andy, “, Gabriela Bhaskar, Dobbs, Kelsea McLain, Roe, —, McLain, Yellowhammer, Fountain, Mike Belleme, Court’s Dobbs, Jeff Porter, Porter, ” Michelle Fenton, Ms, Fenton, Sharon Chischilly, Paddy, Rachael Lorenzo, Tracy Nguyen, Honeybee, Jessica Nouhavandi, Nouhavandi Organizations: Jackson, Health, Private, Yellowhammer Fund, The New York Times, Maryland —, D.C, Cessna, Fund, Birmingham, Pregnancy Services, The New York, Services, The New York Times Indigenous, Roe, Los Angeles Locations: Dobbs v, North Carolina, Hurley’s, Alabama, Louisiana, America, Minnesota, Twin Cities, Illinois, Maryland, Washington, Wisconsin, Birmingham, Ala, Asheville, N.C, Waynesville, New Mexico, Oklahoma , Texas, North Dakota, South Dakota, Culver City, Calif, Roe United States, United States

☆ Coinbase is a crypto conundrum, squared
▼ + stars: | 2023-07-20 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +7 min

Shares in Coinbase got a major boost after money management behemoth BlackRock (BLK.N) applied to launch a bitcoin-backed exchange-traded fund this month with Coinbase as its custodian. Coinbase shares are up nearly 54% in July, handily beating the tech-heavy Nasdaq Composite Index (.IXIC), which rose 4%. Price targets range widely: analysts polled by Refinitiv think Coinbase is worth anywhere from $8 billion to nearly $50 billion. Coinbase investors would therefore be unwise to count on a judge delivering Coinbase a win. Given bitcoin’s current $584 billion market capitalization, that suggests $74 billion of ETFs would not be much of a stretch.

Persons: Brian Armstrong, Coinbase, behemoth BlackRock, –, Gary Gensler, there’s, Goldman Sachs, Cowen, Refinitiv, Armstrong, Sam Bankman, Larry Fink, Charles Schwab, doubters, Ripple, John Foley, Streisand Neto Organizations: YORK, Reuters, Securities and Exchange, Nasdaq, SEC, Citigroup, Commodity Futures, BlackRock, Bank, New York Mellon, Interactive, Securities and Exchange Commission, Thomson Locations: Washington, United States, U.S

Netflix’s focus on streaming has also helped it dodge some of the other problems bedeviling its peers, including weaker-than-expected box office results for expensive blockbusters. (That was also evident in China, which some in Hollywood had hoped could make up for underperformance at home.) While the company will save on content spending in 2023, it will have to pay for American productions at some point. “This strike is not an outcome that we wanted,” Ted Sarandos, the company’s co-C.E.O., told analysts yesterday. In more strike news: Film production in Los Angeles during the second quarter fell to lows not seen since the middle of the pandemic.

Persons: Hollywood, underperformance, Disney’s Robert Iger, Ted Sarandos, Elon Musk Organizations: Netflix Locations: China, Hollywood, Los Angeles

A strike could be one of the costliest in at least a century, with the impact of a 10-day strike topping $7 billion, according to one think tank. UPS pilots, who belong to a different union, would also stop flying in solidarity with the striking workers. The Teamsters have been holding "practice pickets" in major cities around the country to keep pressure on UPS. On the other hand, UPS is the largest employer of Teamsters at a time when unions are fighting to grow. "We believe an August 1 strike at UPS remains possible but not yet probable," Susquehanna analyst Bascome Majors said in a client note.

Persons: Mike Blake, Sean O'Brien, Joe Biden, Bascome Majors, Lisa Baertlein, Priyamvada, David Shepardson, Chris Reese, Josie Kao Organizations: teamsters, UPS, REUTERS, United Parcel Service, Teamsters, International Brotherhood of Teamsters, Twitter, Reuters, Thomson Locations: L.A, Los Angeles , California, U.S, United States, Susquehanna, Los Angeles, Bengaluru, Washington

☆ With the rise of AI, social media platforms could face perfect storm of misinformation in 2024
▼ + stars: | 2023-07-17 | by ( Clare Duffy | ) edition.cnn.com time to read: +13 min

Experts, and even some executives overseeing AI companies, say these tools risk spreading false information to mislead voters, including ahead of the 2024 US election. But they now face a perfect storm of factors that could make it harder than ever to keep up with the next wave of election misinformation. Experts worry that the proliferation of generative AI tools, like ChatGPT, could make it easier for bad actors to create election misinformation. OpenAI, the maker of the popular AI chatbot ChatGPT, issued a stark warning about the risk of AI-generated misinformation in a recent research paper. The platforms largely use a mix of human and automated review to identify misinformation and manipulated media.

Persons: Ron DeSantis ’, Donald Trump, Anthony Fauci, Trump, “, ”, “ We’ve, I’m, David Evan Harris, Bhaskar Chakravorti, it’s, Harris, Margaret Mitchell, Andrew Angelov, incentivized, Mitchell, OpenAI, chatbot ChatGPT, Joe Biden’s, Ivy Choi, Meta, Twitter, Elon Musk Organizations: New, New York CNN, Twitter, Florida Gov, ”, University of Washington, Center, Social, of Technology Institute, Facebook, CNN, The Fletcher School, Tufts University, Google, Pentagon, Republican National Committee, RNC, Democratic, Federal, Commission, YouTube, “, Meta Locations: New York, meddle, United States, Washington

July 15 (Reuters) - Rare twin strikes by Hollywood actors and film and television writers are casting a pall over British Columbia's creative industry, which has become a hub for American film and TV production. Film production in British Columbia is down to "a trickle," said Gemma Martini, Chair of the Motion Picture Production Industry Association and CEO of Martini Film Studios. TAKING A TOLLReverberations that started on May 2 with the writers' strike grew in British Columbia, where most productions have American components. First the business was hit by the writers' strike: "Because no scripts are being written, people aren't coming to scout our locations." The Hollywood strike could affect the Toronto International Film Festival (TIFF), set to open in early September.

Persons: Gemma Martini, Synnove Godeseth, Godeseth, Martini, Oscar, Anna Mehler Paperny, Divya, Denny Thomas, Grant McCool Organizations: Hollywood, Industry Association, Martini Film Studios, Creative, Vancouver Economic, Toronto, Film, Thomson Locations: Canadian, Vancouver, North America, British Columbia, Los Angeles, British

☆ Threads, Twitter, and The Future of Social Media - The New York Times
▼ + stars: | 2023-07-15 | by ( Sriram Krishnan | ) www.nytimes.com time to read: +2 min

As interest rates started to rise, social media companies discovered they weren’t immune to macroeconomic forces. While many were blown away by their possibilities, they forced social media websites to re-evaluate how their data is used externally. assistant for the names of San Francisco’s best restaurants, it could well use that Reddit discussion to generate its answer. Whether or not you agree with Mr. Musk’s moves after he bought Twitter, they have sparked a chain reaction. While it’s early days to see how this plays out, it is clear the social media landscape has shifted quickly and profoundly.

Persons: C.E.O.s, you’re, hoover, Reddit, Elon Musk’s, Musk’s, Reddit’s C.E.O, Instagram Organizations: Google, San, Twitter, Facebook Locations: Francisco, Reddit, San Francisco, Silicon Valley

“I’m getting to know how to live in South Korea at Hanawon.”A Hanawon instructor in an IT education center for North Korean defectors on July 10, 2023. This approach is “outdated,” ineffective and overly restrictive, said Sokeel Park, South Korea country director for international nonprofit Liberty in North Korea (LINK), which helps North Koreans resettle in the South. North Korean defectors attend a computer class at the Hanawon facility on July 10, 2023. In 2022, the remains of a North Korean woman wrapped in winter coats found in her Seoul home. After their arduous journey, he said, North Korean defectors should have the chance to begin this new chapter on their own terms – with the freedom they risked their lives to seek.

Persons: ”, “, “ I’ve, “ I’m, Jeon Heon, Seokyong Lee, Hanawon, SeongJoon Cho, Kim, Kwon Young, ” B, Park, they’d, Kwon, he’d, she’d Organizations: South Korea CNN, South Korea –, Unification, National Intelligence Service, Liberty, CNN, Bloomberg, Getty, North, NIS, Hanawon, Authorities, South Locations: Seoul, South Korea, North Korea, Korea, China, Hanawon, North, Anseong, South, Pyongyang, North Korean, Korean

That estimate from Michigan-based Anderson Economic Group (AEG) includes UPS customer losses of $4 billion and lost direct wages of more than $1 billion. A 15-day UPS strike in 1997 disrupted the supply of goods, cost the world's biggest parcel delivery firm $850 million and sent some customers to rivals like FedEx (FDX.N). Roughly 340,000 union-represented UPS workers handle about a quarter of U.S. parcel deliveries and serve virtually every city and town in the nation. A strike could delay millions of daily deliveries, including Amazon.com (AMZN.O) orders, electronic components and lifesaving prescription drugs, shipping experts warned. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike that shut down its profitable U.S. operations.

Persons: Patrick Anderson, Anderson, GM's, Bruce Chan, Chan, Lisa Baertlein, Priyamvada, Pooja Desai, Jonathan Oatis, David Gregorio Our Organizations: United Parcel Service, Anderson Economic Group, AEG, UPS, FedEx, stoke, International Brotherhood of Teamsters, Teamsters, Consumers, UAW, Teamster, Thomson Locations: U.S, Michigan, Los Angeles, Bengaluru

☆ Potential UPS strike could cost customers over $4 bln - report
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: 1 min

July 13 (Reuters) - A potential strike by about 340,000 workers of The Teamsters Union against United Parcel Service (UPS.N) could cause its customers to incur losses in excess of $4 billion, according to an analysis released by a consulting firm on Thursday. A 10-day strike would likely furlough those workers who are currently earning annual wages of about $90,000 per year (excluding benefits), resulting in wage losses of $1.1 billion, Anderson Economic Group said. Reporting by Priyamvada C in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Priyamvada, Pooja Desai Organizations: The Teamsters Union, United Parcel Service, Anderson Economic, Thomson Locations: Bengaluru

☆ Strike at Canada's Pacific ports ends with tentative, 4-year deal
▼ + stars: | 2023-07-13 | by ( Chris Helgren | ) www.reuters.com time to read: +3 min

[1/5] Union members with the International Longshore and Warehouse Union Canada (ILWU) remove strike signs from a picket line outside the despatch hall in Vancouver, British Columbia, Canada July 13, 2023. REUTERS/Chris HelgrenVANCOUVER, British Columbia, July 13 (Reuters) - Dock workers at ports along Canada's Pacific coast and their employers accepted a tentative wage deal on Thursday, ending a 13-day strike that disrupted trade at the country's busiest ports and risked worsening inflation. "The British Columbia Maritime Employers Association (BCMEA) and International Longshore and Warehouse Union (ILWU) Canada are pleased to advise that the parties have reached a tentative agreement on a new 4-year deal," the BCMEA said in a statement. The union had made demands including wage increases and expansion of their jurisdiction to regular maintenance work on terminals. He offered terms drafted by a federal mediator and gave the union and employers 24 hours to decide if they were satisfied.

Persons: Chris Helgren, of Prince Rupert, Seamus O'Regan, Omar Alghabra, O'Regan, Ismail Shakil, Steve Scherer, Deepa Babington, Alexandra Hudson Organizations: Warehouse Union, REUTERS, British Columbia Maritime Employers Association, Bank of Canada, Labour, Port, Canadian Federation of Independent Business, Canadian Manufacturers, Alexandra Hudson Our, Thomson, & ' $ Locations: Vancouver , British Columbia, Canada, Chris Helgren VANCOUVER, British Columbia, British, Port of Vancouver, of, Vancouver, Ottawa

☆ US economy shifts into disinflation mode; consumer prices rise modestly
▼ + stars: | 2023-07-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

That was the smallest year-on-year increase since March 2021 and followed a 4.0% rise in May. The year-on-year CPI is slowing in part as last year's large rises drop out of the calculation. It was the first time in six months that the so-called core CPI did not post monthly gains of at least 0.4%. Services prices rose 0.3%, matching May's gain. Economists view the ISM services prices paid measure as a good predictor of personal consumption expenditures (PCE) inflation.

Persons: Christopher Rupkey, Joe Biden, Chris Zaccarelli, Sarah Silbiger, Michael Gregory, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Federal Reserve, Labor Department, Fed, Reuters Graphics, CPI, Reuters, Independent, Treasury, El Progreso Market, Washington , D.C, REUTERS, Institute, Supply, BMO Capital Markets, Thomson Locations: WASHINGTON, U.S, New York, Charlotte , North Carolina, Mount Pleasant, Washington ,, Toronto

☆ How 'Birkin Bandit' George Mickum Infiltrated NYC Society
▼ + stars: | 2023-07-12 | by ( Kate Taylor | Anna Silman | ) www.businessinsider.com time to read: +52 min

"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.

Persons: George Mickum strode, Carlyle, Patty Hearst, He'd, Mickum, Birkin, swilling, Patty's, Gillian Hearst, Mr, George Mickum, Gillian Hearst's, George, Sally Painter, who'd, Peter Davis, Jackie O, Barbara Walters, Alessia Fendi, influencer Hannah Stella, Nick Hissom, Steve Wynn, Hearst, they'd, Prince Charles, Anna Delvey, Patty Hearst's, Rumor, he'd, wasn't, Met Breuer, Peter Poopat, George Santos, Trinity, Elisabeth Thieriot, Thieriot, Hermes, —, Painter, Paul Mickum, George Mickum III, Sally, Painter's, Poopat, PJ Pascual, Patrick McMullan, Ramona Singer, Lauren Lawrence, Lawrence, Van Cleef, Nicole Salmasi, Trudy, Mike Vitelli, Eric Schmidt, Schmidt, Eric, R, Couri Hay, They're, Astor, William Randolph Hearst, Orson Welles, Kane, Gillian's, Bill Clinton, Patty, Bernard Shaw, Gillian, Lydia —, Shaw, Maxim, Lydia, Kane we're, Christian Simonds, Pierre, Krista Corl, Dee Dee, Scott Buccheit, Naeem Delbridge, Pascual, who's, We're, buttering, Simonds, Matthew Kehoe, England, — Hearst, Delbridge, Hearst's, Mario Glen Coco, Hearsts, Astrid Stawiarz, Tiger Woods, Ernie Els, Justin Timberlake, Joe Lewis, Buccheit, Mary McCarthy, Lillian Hellman, Mickum's, Christie Grimm, Steve, Kameron Ramirez, Hissom, Ramirez, Nick, Hunt, Damien Hirst, Douglas Elliman, Harry Winston, David Fiszel, invitees, Fiszel, Darian, Winston, Martha Stewart's, Mendel minks, Vacheron Constantin, Tao, Melinda French Gates, Shawn Mendes, Bill, Hillary Clinton, Neiman Marcus, Damien Hirst's, Damien, weren't, Kelly, Alexis Clarbour, Clarbour, Paul Wharton, you've, Wharton, Sean Zanni, Michael Coste, Hannah Stella, Coste's, Stella, Scott Fitzgerald, Coste, Goodman, Courroies Birkin, didn't, Aman, Cartier, Mickum's bluster, skeptically, satchel, Clarbour's, He's, We've, Sider, Philippe, Buccheit texted Pascual, he's, Hay, Café Carlyle, Alexander Hankin, Burisma, Hunter Biden, Mickum hasn't, There's, They've, Amy X, Wang, King Charles, Tracey Amon, Amon, GEORGE MICKUM Organizations: Hearst, Blue, Potomac, Hamptons, East, Met, University of Delaware, Southampton Bathing Corporation, Fields School, Georgetown Law, DC, Town &, New York Daily News, The New York Times, Google, Carnegie, Rockefeller, Cosmopolitan, Symbionese Liberation Army, Hearst Corporation, Vogue, Society of Memorial Sloan Kettering, Stockbridge Golf, New, Tiger, Tottenham, Douglas, Martha Stewart's Hamptons, Mickum, Projects, Madison, Getty, Antibes, Nike, Rue du Faubourg Saint, Couture, US, UN, New Yorkers, Avenue Couture, Hermès, Republican, Justice Department, Blue Star, Town, New York Times Magazine Locations: Bemelmans, Clinton, York, Palm, New, London, Manhattan, Dalton, Bay, Windsor Castle, Haute, Washington , DC, New York, Baccarat, The, San Francisco, Wilton , Connecticut, Side, Wyntoon, California, Buccheit, woodsy Stockbridge , Massachusetts, Stockbridge, Bahamas, Albany, Nobu, Martha, Peking, Paris, Istanbul, St, Georgetown, China, Italy, Hermès, Amalfi Coast, du, Midtown, brunch, Rue, Central Park, Mickum, Turkey, La, Café, Ukrainian, Ukraine

MONTPELIER, Vermont, July 11 (Reuters) - A Vermont reservoir threatened to overwhelm a dam protecting the state's capital on Tuesday and exacerbate "catastrophic" flooding that has already shut roadways leading out of town and trapped people in their homes. The North Branch converges with a second, larger branch of the Winooski near the Vermont statehouse. "Make no mistake, the devastation and flooding we're experiencing across Vermont is historic and catastrophic," Vermont Governor Phil Scott said at a briefing Tuesday. [1/8]People paddle a kayak down a street flooded by recent rain storms in Montpelier, Vermont, U.S., July 11, 2023. The city's topography - bordered by hills with the downtown in a valley - increases the potential for flooding, Montpelier City Council member Conor Casey said.

Persons: Phil Scott, William Fraser, Brian Snyder, Jack McCullough, McCullough, Mike Cannon, Irene, Conor Casey, Casey, Janet Boyd, Boyd, Brendan O'Brien, Rich McKay, Rachel Nostrant, Daniel Trotta, Devika Syamnath, Bill Berkrot, Sandra Maler Organizations: Branch, National Weather Service, Vermont statehouse, REUTERS, CNN, Thomson Locations: MONTPELIER , Vermont, Vermont, Montpelier, United States, Florida , Texas, California, U.S, New York , Massachusetts, Connecticut, Montpelier City, Montpelier , Vermont, New England, Wilmington , Vermont, Chicago, Atlanta

☆ Tech execs are stressed out. Half are heavy drinkers and 45% take painkillers, a new study says.
▼ + stars: | 2023-07-07 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Half of tech executives reported heavy drinking in a new survey. The study polled 501 tech executives at companies with at least 1,000 employees. The survey, titled "2023 Mental Health in Tech Report," was taken between April 27, 2023 and May 15, 2023. Along with long-term fears of job loss, some tech executives reported struggling day to day. Steven Tweedie/Business InsiderAlong with controlled substances, heavy alcohol use was reported by tech executives.

Persons: Steven Tweedie Organizations: Morning, Health, Mental Health Services Locations: Colorado

☆ US bank stocks fall as investors turn jittery ahead of Q2 results
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

July 6 (Reuters) - U.S. bank stocks fell and a key regional index hit a near two-week low on Thursday amid lingering worries about the health of the lenders in the aftermath of the crisis in regional banks and ahead of second-quarter results that start next week. The KBW Regional Banking Index (.KRX) fell 3% to its lowest since June 23, adding to its year-to-date loss of 25.9%. The S&P 500 Banks Index (.SPXBK) slipped nearly 2.8%. Regional lender PacWest Bancorp (PACW.O) dropped 8.1% after KBW analysts cut the price target on the stock to $9 from $14. Last week, shares rose after the Federal Reserve's annual health checks showed lenders could weather an economic slump.

Persons: Raymond James, Goldman, Morgan Stanley, Banks, Manya Saini, Arun Koyyur Organizations: Banks, U.S, PacWest Bancorp, Comerica, U.S . Bancorp, Bank, Federal, JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America, Thomson Locations: U.S . Federal, U.S, Wells Fargo, Bengaluru

☆ One of the US's largest racial-justice organizations is slashing its budget and laying off staff after overspending on lavish perks
▼ + stars: | 2023-07-05 | by ( Sean Campbell | ) www.businessinsider.com time to read: +17 min

Color of Change recently announced significant cuts to its budget and staff. Color of Change dramatically increased its spending in 2020, and it continued burning through its cash even as revenue declined. Their post, published June 22, served as the first official communication to most staff members that budget and staff cuts were imminent. A week later, 49 staffers were laid off, according to staff and a list of eliminated positions reviewed by Insider. Medium/Color of Change board chairsIn a written statement, Color of Change also claimed Insider's reporting contained inaccuracies.

Persons: —, Jordan Neely, George Floyd, Airbnb, Rashad Robinson, Oprah, hasn't, we've, Andre Banks, Banks, Ben O'Keefe, O'Keefe, It's, Salaah Muhammad, Muhammad, Robinson, Heather McGhee's, Bryan Bedder, I've, Berlin Rosen, Ryan Senser, Rashad, Senser Organizations: Service, New York City, The Recording Academy, Forbes, Staff, Education, New York's Office, Labor, YouTube, Miami's Art, Fund, Fashion, NAACP, Fenton Communications, Berlin, Insider Locations: Hollywood, New York, Oakland , California, New York City, Washington, Miami's Art Basel, Minneapolis, Manhattan

☆ Why Iran and Cuba Turned Their Back on the U.S. - The New York Times
▼ + stars: | 2023-07-03 | by ( Peter Beinart | ) www.nytimes.com time to read: +3 min

One reason Cuba still needs Beijing’s money is that the Biden administration has kept key Trump sanctions in place. When the two countries signed the 2015 nuclear deal, Iran’s foreign minister at the time, Mohammad Javad Zarif, called it “not a ceiling but a solid foundation. We must now begin to build on it.” Iran’s leaders, like Cuba’s, hoped better relations with the United States would spur Western investment. Mr. Trump canceled the nuclear deal and reimposed harsh sanctions. This isn’t the first time the United States has driven smaller nations into the arms of its superpower adversaries.

Persons: Obama, Conan O’Brien, Andrew Cuomo, Steve Nash, Michael J, Bustamante, ’, Donald Trump, Evan Ellis, Biden, Mohammad Javad Zarif, ”, Zarif, Hassan Rouhani, Trump, ” Fredrik Logevall, Ho, Ho Chi Minh, Viet Minh Organizations: University of Miami, White, Wall Street, Cuban, U.S . Army, College, Trump, National Security, Strategic Services, Japan Locations: Cuban, Havana, University of Miami Cuba, Cuba, America, China, Iran, United States, Moscow, Russia, Ho Chi, France, Viet

☆ The cofounder of Iconiq-backed fintech Primer is stepping down as CEO, leaked memo shows
▼ + stars: | 2023-07-03 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Paul Anthony, the cofounder of Iconiq-backed fintech Primer, is stepping down as co-CEO. The company's cofounder Gabriel Le Roux will assume the role of sole CEO. Le Roux confirmed the organizational restructure and said it was a "reflection of the state of the business today." Le Roux insisted that there was no major disagreement to prompt this decision. In a message to staff Anthony said the move was a "real big change on my side."

Persons: Paul Anthony, Gabriel Le Roux, Le Roux, Anthony, We've Organizations: Accel, Iconiq Capital, Apple, PayPal, Braintree Locations: Cocoa

☆ Canada has officially banned testing cosmetics on animals
▼ + stars: | 2023-07-02 | by ( Zoe Sottile | ) edition.cnn.com time to read: +2 min

CNN —Canada has moved to ban the testing of cosmetics on animals, joining a number of other countries and American states to outlaw the practice. Bill C-47 amends the Food and Drugs Act to ban both the testing of cosmetic products on animals and the sale of products relying on animal testing data, according to the news release. The news release noted animal testing for cosmetics was “rarely conducted in Canada.”Canada will join the ranks of the European Union, Australia, the United Kingdom, and South Korea, which have all moved to ban cosmetic testing on animals, according to the release. A total of 44 countries have passed laws banning cosmetic animal testing, according to the Humane Society International. The amendment banning cosmetic testing on animals in one of a package of amendments included in the measure.

Persons: Bill C, ”, Health Jean, Yves Duclos Organizations: CNN, Canada, Canadian, Drugs, European Union, Humane Society, Health, Commons Locations: Canada, Australia, United Kingdom, South Korea, New York, Virginia , California , Louisiana , New Jersey , Maine, Hawaii , Nevada , Illinois, Maryland

Under the "stress test" exercise, the Fed tests big banks' balance sheets against a hypothetical severe economic downturn, the elements of which change annually. WHY DOES THE FED 'STRESS TEST' BANKS? It announces the size of each bank's stress capital buffer in the subsequent months. For example, the 2022 stress test envisioned a 5.8 percentage point jump in unemployment under a "severely adverse" scenario. This extra test will not count towards banks' capital requirements but will allow the Fed to explore applying multiple adverse scenarios in future.

Persons: Banks, Wells, Goldman Sachs, Morgan Stanley, Michael Barr, Pete Schroeder, Michelle Price, Andrea Ricci Organizations: U.S . Federal, Big, Fed, Citigroup, Bank of America, JPMorgan Chase &, Goldman Sachs, Deutsche Bank's U.S, JPMorgan Citigroup, Wells Fargo & Co, Bank, U.S, Treasury, Thomson Locations: Big U.S, Silicon

☆ Despite 'doom and gloom' reports, 64% of C-suite leaders plan to hire more as a result of generative A.I.
▼ + stars: | 2023-06-27 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

Headlines have been ablaze about the proliferation of generative AI tools like ChatGPT, many predicting the new tech will replace workers in various fields. As many as 300 million jobs worldwide could be affected, according to a recent Goldman Sachs report. But it turns out many in the C-suite have other plans. A majority, 64% of C-suite leaders say they will hire more workers as a result of generative AI, according to a new study of 1,400 U.S. business leaders by work marketplace Upwork. Here's why experts believe generative AI isn't replacing millions of workers anytime soon.

Persons: Goldman Sachs, Kelly Monahan

Under the "stress test" exercise, the Fed tests banks' balance sheets against a hypothetical severe economic downturn, the elements of which change annually. WHY DOES THE FED "STRESS TEST" BANKS? It typically publishes aggregate industry losses, and individual bank losses including details on how specific portfolios - like credit cards or mortgages - fared. It announces the size of each bank's stress capital buffer in the subsequent months. For example, the 2022 stress test envisioned a 5.8 percentage point jump in unemployment under a "severely adverse" scenario.

Persons: Banks, Wells, Goldman Sachs, Morgan Stanley, Michael Barr, Pete Schroeder, Michelle Price, Andrea Ricci Organizations: U.S . Federal, Fed, Citigroup, Bank of America, JPMorgan Chase &, Goldman Sachs, Deutsche Bank's U.S, JPMorgan Citigroup, Wells Fargo & Co, Bank, U.S, Treasury, Thomson Locations: Silicon

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