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During his tenure as CEO, Grove transformed the chip company into a giant of Silicon Valley that, during the 1990s, was as important to the PC market as Microsoft. Pat Gelsinger, who has led Intel as CEO since 2021, has enacted a sweeping set of new initiatives to turn the chip company around. Its Gaudi 3 AI chip, unveiled as a rival to offerings from Nvidia and AMD, is expected to generate just $500 million in sales this year. Meanwhile, Alvin Nguyen, senior analyst at Forrester, told Business Insider that this is a big public win for Intel. Gelsinger's second headline announcement was that the company is establishing Intel Foundry as a separate subsidiary within Intel, with its own new operating board and independent directors.
Persons: , Andrew Grove, he'd, Grove, Grove —, Pat Gelsinger, Gordon Moore, Gelsinger, HWA CHENG, Patrick Moorhead, Moorhead, Alvin Nguyen, Forrester, Gelsinger's, It's, Forrester's Nguyen, Bernstein Organizations: Service, Microsoft, Intel, Business, Nvidia, Gaudi, AMD, Revenue, HWA, Getty, Amazon Web Services, Intel Foundry, Reuters Locations: Silicon, Japan, Moore's, AFP, Poland, Germany, Arizona , Oregon, New Mexico, Ohio
AdvertisementThat included 120 pallets containing 500 wet and moldy tactical vests and "3,000 mildewed body armor plates," the watchdog said. AdvertisementWithout facilities to store or protect the equipment and ammo, they were exposed to the bad weather, the report added. AdvertisementAdditionally, the shipments to Taiwan included six M240B machine guns from the National Guard in Clovis, New Mexico, that were dumped in a cardboard box without any wrapping. The OIG said the six machine guns were found in a cardboard box without any wrapping or packaging. AdvertisementThe Pentagon did not immediately respond to a request for comment sent outside regular business hours by Business Insider.
Persons: , OIG, Pete Nguyen, Nguyen, Joe Biden Organizations: Service, Business, The Defense Department, Travis Air Force Base, US Army, National Guard, Pentagon, Defense Department, Taipei Times, Democratic Progressive Party Locations: Taiwan, Taipei, Clovis , New Mexico, Beijing, China
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, we've, Stanley Black, Decker, Jim, Hock Tan, Stocks, Jim Cramer's Organizations: CNBC, TJX Companies, Depot, Microsoft, Management, Excel, Broadcom, Intel, Hewlett Packard Enterprise, Devices
This month, he'll start building a long-short equity division called Longaeva Partners inside Balyasny and exclusively managing the multistrategy hedge fund's capital, according to people familiar with the matter. "He was very coachable and progressed at a much faster rate than a lot of other, newer portfolio managers," Boyle said. "Peter was good at keeping his emotions out of his portfolio," Boyle said. At Balyasny, Goodwin will effectively have his own unit, though he'll be under the flagship Atlas Enhanced umbrella and operate on BAM's platform, including access to its technology, risk management, hiring, and human resources capabilities. The allure of such a setup is more time to spend on investing, which Longaeva will do exclusively with Balyasny money for now.
Persons: , Peter Goodwin, Dmitry Balyasny's, Jeff Runnfeldt, Gustav Rydbeck, Goodwin, he'll, it's, they've, Point72, Point72 Goodwin, Peter, Korn, Scott Goodwin, Shaw, Perry Boyle, Boyle, delegating, he's Organizations: Service, Management, Business, Longaeva Partners, Millennium Management, Korn Ferry, JPMorgan, Lehman Brothers, Ziff Capital Locations: D.E
Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He may not have known it at the time, but in 2005 Sam Altman took a risk that changed the trajectory of his career. It "seemed like a really fun thing to try," Altman, 39, told students during an interview at his alma mater, the St. Louis-area John Burroughs School. On the other hand, a one-way door risk is harder to undo. The risky thing is to not go try the things that might really work out.
Persons: Sam Altman, That's, Altman, OpenAI Altman, Jeff Bezos, Lex, Bezos Organizations: Economic, John Burroughs School Locations: Davos, Switzerland, Stanford, Louis
Companies can face data-security challenges with cloud storage and access management. Dan Benjamin, the senior director of product management at Prisma Cloud, a cloud-security platform made by Palo Alto Networks, said that incorporating data-security posture management into cybersecurity strategies could help solve many of these problems. This is crucial, as an IBM report published in 2023 estimated that 82% of data breaches involved data stored in the cloud. Organizations also often use several cloud systems and sometimes lack a solid security strategy for maintaining, updating, and securing data. Liat Hayun, the vice president of product management and research of cloud security at the cybersecurity company Tenable, said cloud environments' flexibility makes them attractive to companies.
Persons: , Dan Benjamin, Benjamin said, Liat Hayun, Tenable, they're, Hayun, haven't, Benjamin, DSPM, Julie Madhusoodanan, Madhusoodanan Organizations: Service, Palo Alto Networks, LinkedIn, Companies Locations: DSPM, Normalyze
Alaska Airlines, Hawaiian can close merger deal, DOT says
  + stars: | 2024-09-17 | by ( ) edition.cnn.com   time to read: +1 min
The U.S. Transportation Department said on Tuesday it had agreed to allow Alaska Airlines to close on its $1.9 billion acquisition of Hawaiian Airlines, after the carriers agreed to maintain key Hawaiian routes and adopt consumer protections. The Justice Department in August opted not to block the deal that was announced in December by Alaska, the fifth-largest domestic U.S. airline, to Hawaiian, the 10th-largest carrier. The carriers said on Tuesday that they expect to close the deal in the coming days. DOT said Alaska and Hawaiian agreed to protect the value of frequent flyer rewards, maintain existing service on key Hawaiian routes to the continental United States and inter-island regions, ensure competitive access at the Honolulu airport and provide travel credits or frequent flyer miles for disruptions that are the fault of the airline. The agreement came after weeks of discussions between Alaska and DOT, which had sought wide-ranging concessions that went beyond what is in the agreement announced on Tuesday.
Organizations: U.S . Transportation Department, Alaska Airlines, Hawaiian Airlines, Justice Department, U.S Locations: Alaska, United States, Honolulu, Alaska’s
Apple is in discussions with JPMorgan Chase for the bank to take over the tech giant's flagship credit card program from Goldman Sachs , a person with knowledge of the negotiations said. But the move shows the extent to which Apple's choices were limited when Goldman Sachs decided to pivot from its ill-fated retail banking strategy. There are only a few card issuers in the U.S. with the scale and appetite to take over the Apple Card program, which had saddled Goldman with losses and regulatory scrutiny. JPMorgan is the country's biggest credit card issuer by purchase volume, according to the Nilson Report, an industry newsletter. Apple and JPMorgan declined to comment on the negotiations, which were reported earlier by the Wall Street Journal.
Persons: JPMorgan Chase, Goldman Sachs, Goldman, Nilson Organizations: Apple, JPMorgan, Apple Card, Wall Street Locations: U.S
Boeing 737-790 aircraft belonging to Alaska Airlines is seen flying at Anchorage Ted Stevens International Airport in Anchorage, Alaska, United States on July 2, 2024. Alaska Airlines and Hawaiian Airlines can go through with their planned merger, but they must maintain the value of their airline reward systems and preserve several key routes, the U.S. Department of Transportation said Tuesday. The two carriers' $1.9 billion merger agreement cleared the U.S. Justice Department's review last month. That put it in the hands of the Transportation Department, which must also review airline mergers. The Department of Transportation noted that the airlines can begin the process of closing the merger, but still need approval for a transfer application, which allows them to combine and operate international routes under one certificate.
Persons: Anchorage Ted, Department's, Transportation Pete Buttigieg Organizations: Boeing, Alaska Airlines, Anchorage, International, Hawaiian Airlines, U.S . Department of Transportation, U.S ., Transportation Department, Transportation, Department Locations: Alaska, Anchorage , Alaska, United States, U.S
The Iran-backed militant group said the wireless devices began to explode around 3:30 p.m. local time in a targeted Israeli attack on Hezbollah operatives. Experts say the explosions, unprecedented in their scale and nature, underscore Hezbollah’s vulnerability as its communication network was compromised to deadly effect. CNN could not geolocate the image, but has verified it was published Tuesday, the same day as the explosions. Hostilities are at an all-time high between Israel and Hezbollah following Hamas’ October 7 attack on Israel. US Secretary of Defense Lloyd Austin spoke twice with his Israeli counterpart, Israeli Defense Minister Yoav Gallant, according to two US defense officials.
Persons: Israel, , Hassan Nasrallah, , Avi Melamed, ” Melamed, David Kennedy, I’ve, John Miller, Amos Yadlin, Nasrallah, Yahya, ” Yadlin, Kim Ghattas, Ahmad Kaddoura, Miller, Ismail Haniyeh, Mohamed Azakir, , Defense Lloyd Austin, Yoav Gallant Organizations: CNN, Hamas, Middle, GPS, New York Times, Times, US National Security Agency, Intelligence, Getty, American University of, American University of Beirut Medical Center, Reuters, Global, Defense, Israeli Locations: Lebanon, Iran, Gaza, East, Israel, Lebanese, Israeli, Sidon, Anadolu, United States, Iranian, Tehran, American University of Beirut
My family of four had dinner at Shula's Steak House, a chain with a location at Disney World. Go to newsletter preferences Thanks for signing up! AdvertisementOn a recent trip to Disney World, my family and I decided we'd try a new restaurant — Shula's Steak House. The steak house, which is owned by Shula's Restaurant Group, is named after former Miami Dolphins coach Don Shula. The chain aims to carry on Shula's legacy, so each location has a loose football theme.
Persons: mignon, crème, , we'd, Don Shula Organizations: Disney, Service, Daily, Shula's Restaurant, Miami Dolphins, Business Locations: America, Florida, Chicago, Houston, Richmond , Virginia
Bloomberg | Bloomberg | Getty ImagesThe aviation industry still sees so-called "sustainable aviation fuel" (SAF) as the only viable way to meet its decarbonization targets, even as opposition and the potential for higher costs for passengers pose obstacles to the fast-growing sector. SAF is a broad term describing fuel that is burned by an aircraft engine, but instead of using kerosene is derived from more sustainable sources. The planemaker said it is collaborating with producer HIF Global on the development of methane-based fuels, and investing in alcohol-to-jet fuel producer LanzaJet. But IATA's own forecast for SAF production to triple in 2024 to 1.9 billion liters would cover just 0.53% of aviation fuel demand for the year. "The truth is, it's going to be more expensive, you can't really sugarcoat that," said HIF Global's Clara Bowman.
Persons: Neste, HIF, Buzz, Lauren Riley, Riley, Rick Nagel, You've, Clara Bowman, Bowman, United's Lauren Riley, HIF Global's Clara Bowman Organizations: SAF, Bloomberg, Getty, United Airlines, Chicago O'Hare International, Labour, Airbus, Farnborough Air, CNBC, International Air Transport Association, Acorn Capital Management, Porsche, HIF, Union's Renewable Energy Directive, Biden, Boeing, Google, Embraer Locations: Singapore, Chile, Texas, U.S, America
Are trampolines safe for kids? A doctor explains
  + stars: | 2024-09-17 | by ( Katia Hetter | ) edition.cnn.com   time to read: +8 min
The American Academy of Pediatrics issued a statement in 2012 to strongly recommend against the use of recreational trampolines in kids. Jumpers on the same apparatus increases injury risk, especially for the smallest individuals, according to the AAP. The report also found that injuries from full-size trampolines had a six times higher risk of requiring surgery compared with injuries from mini-size trampolines. Stay close to your child and instruct them not to try dangerous maneuvers like flips. If our kids do go to a home that has trampolines, we try to steer them away from the trampoline.
Persons: pediatricians, Leana Wen, Wen Organizations: CNN, American Academy of Pediatrics, George Washington University, Care, AAP
A Business Insider reporter found out by enlisting in the city's 'elite squad of anti-rat activists.' What's on deck:This story is available exclusively to Business Insider subscribers. In February 2023, it announced plans to require most office workers to show up in-person three days a week. And in the hyper competitive world of Big Tech, other tech giants might follow suit rather than risk getting bad-mouthed by rivals to their clients. How can insert Big Tech company really serve you best when its people are home half the time?
Persons: , RTO Nickilford, Maria Ivanova, Getty, Tyler Le, Andy Jassy, Slack, It's, Miranda Jones, Donald Trump, Trump, Fundstrat's Tom Lee, Elon Musk, Joe Biden, Kamala Harris, Apple's, TikTok, Chris Williams, We're, Stephen Nedoroscik, Anna Delvey, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, New York, Business, Amazon, Big Tech, Employees, McKinsey, Trump Media, Vanguard, Anadolu, Getty, Elon, Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, DOJ, Microsoft, Open, It's Locations: New, North America, New York, London
The meeting wraps up Wednesday afternoon, with the release of the Fed's rate decision coming at 2 p.m. "I hope they cut 50 basis points, but I suspect they'll cut 25. Here's a breakdown of what's on tap:The rate waitThe FOMC has been holding its benchmark fed funds rate in a range between 5.25%-5.5% since it last hiked in July 2023. The 'dot plot'Perhaps just as important as the rate cut will be the signals meeting participants send about where they expect rates to go from here. In June, FOMC members penciled in just one rate cut through the end of the year.
Persons: Jerome Powell, William McChesney Martin Jr, Andrew Harnik, they'll, Mark Zandi, that's, Tom Simons, Zandi, Robert Kaplan, There'll, Seema Shah, FOMC, Moody's, Goldman Sachs, Powell presser, Goldman, Simons Organizations: Federal Reserve, Committee, Moody's, Wall, Jefferies, Dallas Fed, CNBC, Asset Management Locations: Washington , DC
Diddy,’ aka ‘Diddy,’ aka ‘PD,’ aka ‘Love,’ the defendant, abused, threatened, and coerced women and others around him to fulfill his sexual desires, protect his reputation, and conceal his conduct,” the indictment states. The indictment lists eight purposes for Combs Enterprise, including the above-board businesses of operating a media, entertainment, and lifestyle business. Victims and sex workers participated in ‘Freak Offs’The indictment alleges Combs held what he called “Freak Offs,” or elaborate sex performances in which he drugged and coerced victims into extended sex acts with male sex workers. Further, Diddy kept videos he took of his victims engaging in sex acts, sometimes without their knowledge, the indictment states. Meanwhile, the sex trafficking charge is based on allegations against a single, unnamed “Victim-I” from about 2009 up to about 2018, the indictment states.
Persons: Sean “ Diddy ” Combs, Sean Combs, , , ‘ Diddy, Combs, , Diddy, “ Combs, Sean, Casandra Ventura, Cassie, Combs “, Ventura, , Damian Williams, Shannon Stapleton, ’ ” Organizations: CNN, US, Office, of, Bad Boy Entertainment, Combs Enterprise, Reuters Locations: Southern, of New York, Los Angeles, Miami
Gentle parenting — which I define as an approach that centers kids' social-emotional needs — started off with the best of intentions, I believe. I think a lot of them would be better served by another parenting approach, one that educators love: structured parenting. While it's different from so-called gentle parenting, structured parenting is still gentle, kind, and individualized. Structured parenting means moms and dads don't lose themselvesParents are more self-critical these days than they ever have been. Structured parenting lets you deliver love and empathy, not only to your children but to yourself.
Persons: , Pam Allyn, Dewey, I've, what's, shouldn't Organizations: Service, Business
I started my career as a solicitor and worked at PwC as part of their legal team in the UK. From my early days at PwC, I felt Big Four businesses operate super efficiently and do fantastic work. We work with organizations to support their early career talent, providing them with training on navigating uncertainties around personal financial literacy and how businesses work. When you're working at Big Four companies, there are all sorts of rules and regulations about the types of investments you're allowed to make because of audit restrictions. I recommend that early career professionals talk to their peers about what works for them from a personal finance position.
Persons: , Carla Hoppe, I've, who've, overspending, PwC, I'd, isn't, Gen Zers Organizations: Service, Big, Business, EY Locations: PwC
This has renewed focus on China's homegrown efforts to rival Nvidia and create semiconductors that can underpin the world's second-largest economy's own AI industry. Huawei then sells these chips as a part of servers that go into data centers to train AI models. Alibaba and BaiduAlibaba and Baidu both buy Nvidia chips but they are also designing their own semiconductors for AI processes. Inference is the process that follows the training of AI models, as it refers to the actual application of AI in the real world, such as a chatbot responding to user queries. Moore ThreadsMoore Threads, founded in 2020, is developing GPUs designed to train large AI models.
Persons: Paul Triolo, Albright Stonebridge, Baidu Alibaba, Wei Sun, Moore, KUAE, ByteDance Organizations: Istock, Getty, Nvidia, CNBC, Huawei Huawei, Huawei, Wall, Alibaba, Baidu, Counterpoint Research, Biren, Technologies, China Morning, Cambricon Technologies, U.S, Sequoia, GGV Locations: China, U.S, Beijing, Washington, Shenzhen, Biren's
Read previewOpenAI just announced the members of its revamped Safety and Security Committee, and CEO Sam Altman is not on the list. When the group was announced, Altman, Taylor, and five OpenAI technical and policy experts were named to the committee, alongside the independent board members. AdvertisementThe safety committee will "exercise oversight over model launches, including having the authority to delay a release until safety concerns are addressed," the blog post said. OpenAI's troublesLast month, the company battled to stop an AI safety bill in California, saying it would stifle progress and drive companies out of the state. Weeks before that, nine current and former OpenAI employees signed an open letter pointing out the risks of generative AI.
Persons: , Sam Altman, Bret Taylor, OpenAI's, Altman, Taylor, Zico Kolter, Adam D'Angelo, Paul Nakasone, Nicole Seligman, William Saunders, Daniel Kokotajlo, Weeks Organizations: Service, Security Committee, Business, Carnegie Mellon University, US Army, Sony Corporation, o1, OpenAI, Securities and Exchange Commission Locations: California, NDAs
Von der Leyen names European Commission's new top team
  + stars: | 2024-09-17 | by ( ) www.cnbc.com   time to read: +2 min
European Commission President Ursula von der Leyen attends a press conference, on the day of a European Union leaders summit, in Brussels, Belgium March 22, 2024. EU Commission President Ursula von der Leyen on Tuesday named Spain's ecological transition minister Teresa Ribera as the bloc's next antitrust commissioner while Estonia's Kaja Kallas will be in charge of foreign policy. All commissioners will report to German conservative von der Leyen, who this summer was handed a second term as EU chief executive by member states after her political camp won the most votes in EU elections. A second Trump presidency could sharply alter Western unity on supporting Ukraine against Russia's invasion and up-end EU trade relations with the world's biggest economy. There was some drama on Monday on the next Commission's line-up, when France picked Foreign Minister Stephane Sejourne as its new candidate after the incumbent, Thierry Breton, abruptly quit with tough words for von der Leyen.
Persons: Ursula von der Leyen, Teresa Ribera, Estonia's Kaja, Andrius, Stephane Sejourne, Slovakia's Maros Sefcovic, Ribera, Denmark's, Margrethe Vestager, der Leyen, Trump, Thierry Breton, von der Leyen Organizations: European Union, EU, French, Big Tech, U.S, Ukraine Locations: Brussels, Belgium, China, France
CNN —US military aid packages for Ukraine have been smaller in recent months, as the stockpiles of weapons and equipment that the Pentagon is willing to send Kyiv from its own inventory have dwindled. The shift comes amid concerns about US military readiness being impacted as US arms manufacturers play catchup to the huge demand created by the war against Russia. In April, Congress gave the Biden administration an additional $13.4 billion to use specifically to send Ukraine weapons and equipment drawn from US stockpiles. There are also limits, the official added, to how quickly Ukraine can absorb the equipment and distribute it effectively. Austin acknowledged at the meeting that the US is working to ramp up production and “speed up deliveries” to Ukraine.
Persons: Biden, , Pat Ryder, It’s, won’t, Volodymyr Zelensky, Zelensky, Defense Department hasn’t, Defense Lloyd Austin, Austin, ” Austin, Organizations: CNN, Pentagon, Russia, Russia’s, Patriot, National Security Council, Ukraine Defense Contact Group, Defense Department, Congress, , Defense Locations: Ukraine, Germany, Kyiv
Read previewWhen former President Donald Trump spoke to the National Association of Black Journalists in July, he sparked outrage and said his opponent "happened to turn Black." In particular, their responses to questions about economic plans were hazy, all as the economy remains a key issue for many voters. Between questioning Harris' racial identity and whether she passed her bar exam —she did — Trump fielded questions about how he would support Black voters economically. When pressed on his exact plans, Trump redirected the conversation to President Joe Biden's debate performance, immigration policy, and plans for electric vehicles. A similar dynamic played out during the debate — Trump spewed racist rhetoric about Haitian migrants in Ohio, while Harris remained on message.
Persons: , Donald Trump, Kamala Harris, Harris, — Trump, Trump, Joe Biden's, she's Organizations: Service, National Association of Black Journalists, Business Locations: Gaza, Ohio
Your next Pizza Hut delivery may come with a side order of employment. "Who could possibly ignore a resume when it is delivered as a delicious pizza?" Pizza Hut will then review the submissions and select 25 winners whose resumes will "be hand delivered via custom Pizza Hut ResZAme pizza box to their desired employers." If selected, applicants will be responsible for getting permission from their chosen company to deliver the pizza box resume. While Pizza Hut can't guarantee that the hot and cheesy resume will work, pizza has in the past been shown to be an attention grabber.
Persons: Pizza, Melissa Friebe, Friebe, Matthew Parkhurst, Parkhurst, There's Organizations: CNBC Locations: New York City, Pizza, New York, San Francisco and New York
AP —Suspicious packages were sent to election officials in at least six states on Monday, but there were no reports that any of the packages contained hazardous material. Powder-containing packages were sent to secretaries of state and state election offices in Iowa, Kansas, Nebraska, Tennessee, Wyoming and Oklahoma, officials in those states confirmed. It marked the second time in the past year that suspicious packages were mailed to election officials in multiple state offices. Several of the states reported a white powder substance found in envelopes sent to election officials. Wyoming officials have not yet said if the material sent there was hazardous.
Organizations: FBI, U.S . Postal Service Locations: Iowa , Kansas , Nebraska , Tennessee , Wyoming, Oklahoma, Wyoming, Iowa
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