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☆ Rollback in IRA's EV incentives would benefit China, says GM board member
▼ + stars: | 2024-05-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Any significant reduction or a rollback of the Inflation Reduction Act's support for electric vehicles would benefit China, according to General Motors board member Jon McNeill. "I think we risk losing the auto manufacturing share to China. The IRA of 2022 includes incentives for consumers to purchase EVs as well as significant support for carmakers and suppliers to produce all-electric vehicles and their components in North America rather than overseas. The expansion of Chinese automakers has been a growing concern for companies from Detroit to Germany. Global automakers are worried that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.

Persons: Jon McNeill, McNeill, Donald Trump Organizations: General Motors, DVx Ventures, CNBC, Global, Biden Locations: China, North America, Detroit, Germany

☆ Things are about to get a lot tougher for Jensen Huang's Nvidia
▼ + stars: | 2024-05-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

The 61-year-old Silicon Valley veteran running Nvidia has overseen a $2 trillion surge in its value since the start of last year. Justin Sullivan/Getty ImagesThe hype behind Nvidia's chips is no joke. But competitors have been busy developing AI chips of their own to reduce reliance on Nvidia's increasingly expensive offerings. AMD CEO Lisa Su, who's Huang's cousin, is aiming to pry Nvidia customers away with a chip named the MI300X that costs between $10,000 and $15,000. If they succeed in using Triton, they could be one step closer to a future in which alternatives to Nvidia's chips are easier to use.

Persons: —, Jensen Huang, Sam Altman, Mark Zuckerberg, Matt Bryson, Huang, isn't, Justin Sullivan, Taylor Swift, Nvidia's, Blackwell, Zuckerberg, Lisa Su, who's, Jensen, AMD, CUDA, OpenAI Organizations: Service, Silicon, Nvidia, Microsoft, Apple, Business, GTC, AMD, Google, Meta, Financial Times Locations: San Jose , California, Woodstock

☆ Adams vs. Adams: A Power Struggle in New York City Turns Ugly
▼ + stars: | 2024-05-21 | by ( Dana Rubinstein | ) www.nytimes.com time to read: +1 min

Amid growing public dissatisfaction with Mayor Eric Adams’s job performance, the New York City Council speaker, Adrienne Adams, was about to make a power play. Ms. Adams was preparing to introduce legislation on Thursday that would require the mayor to obtain Council approval on 21 commissioner-level appointments, according to a draft of the bill that the speaker’s office shared with The New York Times. The move would significantly curtail the mayor’s authority by adding a level of Council oversight. It would require a citywide voter referendum, because it proposes to curb the power of the mayor. Only one member was named; other names, the release said, would be forthcoming.

Persons: Eric Adams’s, Adrienne Adams, Adams Organizations: New, New York City Council, The New York Times, Times, Commission Locations: New York City

☆ Here's how Disney’s streaming business can work toward Netflix-like profitability
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +14 min

Disney's streaming margins, while still negative due to losses and nowhere near Netflix's, have improved significantly in recent quarters and are now on the doorstep of an important milestone. Disney's streaming overview Disney+ is its flagship streaming service across the globe. The ARPU discrepancy on Disney+ core helps explain why Netflix is much more profitable than Disney's streaming business. Given that Disney's streaming business has rolled out pretty much everywhere across the globe, Cruetz said moving forward "it's about driving more penetration in those markets." The latest is a matchup with Disney and HBO's parent Warner Bros Discovery , whose flagship streaming service is called Max.

Persons: Bob Iger, Disney, Iger, Covid, Morgan Stanley, It's, That's, Cowen, Doug Creutz, Hulu's, Cowen's Cruetz, Brandon Nispel, Cruetz, TD Cowen, Max, Creutz, cannibalization, it's, KeyBanc's Nispel, Wells Fargo, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Disney, Netflix, ESPN, Reliance Industries, Century Fox, CNBC, Comcast, Capital, Warner Bros Discovery, Getty Locations: Netflix's, Hulu, India, Malaysia, Philippines, Thailand, U.S, Canada, Europe, Africa, West Asia, Los Angeles

A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement. CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. "This restructuring is the best path forward for Red Lobster," Tibus said in a statement late Sunday.

Persons: — Jonathan Tibus, Alvarez, Marsal, Tibus, Red, we've, General Mills, Darden, Kim Lopdrup, Paul Kenny's, Kenny Organizations: CNBC, Golden, Darden, Food, General, Thai Union Group, Thai Union, Red Lobster, Seafood Alliance, Thai Locations: Rohnert Park , California, U.S, Canada, Orlando , Florida, Olive, Thai

☆ DJT: Trump Media reports $770,500 revenue for first quarter, net loss of $327.6 million
▼ + stars: | 2024-05-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Trump Media & Technology Group, the parent company of Donald Trump's Truth Social platform, disclosed a net loss of $327.6 million in the first quarter of the year, with total revenue at $770,500, according to its earnings report, filed Monday with the Securities and Exchange Commission. "We are particularly excited to move forward with live TV streaming by developing our own content delivery network, which we believe will be a major enhancement of the platform," Nunes added. In April, the company announced that Truth Social would launch a TV streaming platform in three phases, the first for Android, iOS, and Web. In its Q1 report, TMTG said it has signed contracts with its first data center partner, which would host the TV platform, and a hardware vendor to provide equipment.

Persons: Donald Trump, Donald Trump's, Devin Nunes, Nunes, TMTG Organizations: Trump Media & Technology Group, Securities and Exchange Commission, Nasdaq, Android, SEC, BF Locations: Washington ,

☆ Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
▼ + stars: | 2024-05-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

It was the upstart athletic brand that was making real inroads against Nike, the dominant name in the industry. People saw it as a company that actually could break through and take market share from Nike among the hardcore athletes,” Swartz said. String of controversiesThe period from 2016 onward is when “things really started to fall apart” at Under Armour, Swartz said. A bulk of Under Armour products are sold through sporting goods retailers and department stores, including Macy’s and Kohl’s, and online. The basketball superstar Curry, arguably the best shooter in history, famously signed with Under Armour instead of Nike in 2013.

Persons: Armour, Stephen Curry, Jordan Spieth, Kevin Plank, Howard Schultz’s, Bob Iger’s, Plank, ”, David Swartz, Morningstar, ” Swartz, Justin Sullivan, Tommy Gilligan, ” Plank, Swartz, “, —, Stephanie Linnartz, ” Schwartz, Andrew Kelly, Merrell, Zak Stambor, Stambor, Plank’s, Noel Celis, Eric Smallwood, Dwayne Johnson, Johnson, ” Smallwood, Smallwood, Curry, Joel Embiid, Embiid, Skechers, Caitlin Clark Organizations: New, New York CNN, Nike, Starbucks, Disney, CNN, Sports, North, Maryland Terrapins, Southern Methodist Mustangs, Capital, Maryland, Reuters, —, Armour, Sports Authority, Sporting Goods, UCLA, US Securities and Exchange Commission, Footwear News, Adidas, NBA Golden State Warriors, UA Curry II, Getty, Apex Marketing, United Football League, NBA, WNBA Locations: New York, San Rafael , California, North America, College Park , Maryland, Manhattan , New York, Petaluma , California, Manila, AFP

☆ These stocks, including Nvidia, are still cheap and compelling, Bank of America says
▼ + stars: | 2024-05-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

The other buy-rated stocks are Raymond James Financial , S & P Global , Monster Beverage and Topgolf Callaway Brands. The analyst said he's bullish on each of Raymond James' individual businesses including asset management, capital markets and brokerage services. Further, Raymond James offers a steady stream of organic growth and a "cheap valuation," McLaughlin said. Raymond James is also in a place to take advantage of the current high rate environment, he added. Raymond James Financial "Reiterate Buy; cheap valuation + overlooked qualities.

Persons: Raymond James Financial, Raymond James, Mark McLaughlin, he's, RJF, McLaughlin, Peter Galbo, Galbo, MNST, Topgolf, Alexander Perry, Topgolf Callaway, Perry, … MODG Organizations: of America, Nvidia, CNBC, Bank of, P, Monster Beverage, Topgolf Callaway Brands, Raymond James Financial, Beverage, …, IHS Locations: comps, Topgolf

☆ Target's Pride looks a lot different after last year's backlash — and some LGBTQ+ insiders are disappointed
▼ + stars: | 2024-05-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewOn Tuesday, members of Target's LGBTQ+ employee resource group logged on for a much-anticipated virtual meeting to preview the 2024 Pride collection, two council members told Business Insider. Last year, Pride products had already been on sale online for weeks by mid-May, and each of the retailer's nearly 2,000 US stores was busy setting up displays near their front entrances. But late last May, conservative protesters took aim at Target's Pride collection, falsely claiming the merchandise was "Satanic" and sexualized minors. However, the two Pride Council members and multiple LGBTQ+ vendors who worked on past Pride collections told BI they feel the company hasn't done enough to rebuild its relationship with its LGBTQ+ partners over the past year. AdvertisementOne of the employees involved in the Pride Council told BI that a lot of LGBTQ+ people, herself included, joined Target specifically because of its stated support for trans and queer rights.

Persons: —, Brand Management Carlos Saavedra, Eager, Dominick Reuter, Erik Carnell, hasn't, Hayley Marzullo, Marzullo, Leslie Garrard, Garrard Organizations: Service, Business, Brand Management, Pride +, Council, Target, Pride Council, Christian Right, BI Locations: —

☆ World’s biggest waste-to-energy facility will power more than 100,000 homes
▼ + stars: | 2024-05-17 | by ( Ana De Oliva | ) edition.cnn.com time to read: +4 min

Much of it ends up at a plant operated by the Warsan Waste Management Company. “Around 45% percent of Dubai’s total waste comes to this facility,” says Tim Clarke, the company’s CEO. Operational since March of this year, the Warsan plant will use 2 million metric tons of trash annually to produce electricity, enough to power approximately 135,000 homes, according to the company. However, since the plant produces power, replacing the burning of fossil fuels, Warsan Waste Management believes the overall result is positive. But some environmental groups, such as Zero Waste Europe, argue that burning waste to generate electricity discourages efforts to cut waste and initiatives to increase recycling.

Persons: ”, Tim Clarke, Clarke, “, Bryan Staley, Staley Organizations: Dubai CNN, CNN, Warsan Waste Management Company, “, United Nations Environment, Waste Management, Energy, Research, Education Foundation Locations: Dubai, Europe, Japan, China, UAE

☆ In a white-collar recession where $100,000 jobs are hard to find, women are winning out
▼ + stars: | 2024-05-17 | by ( Emily Mccrary-Ruiz-Esparza | ) www.businessinsider.com time to read: +7 min

Fewer women apply for 6-figure positionsAccording to iCIMS's analysis, women have made up 41% to 44% of applicants for six-figure jobs across Asia, Europe, the Middle East, South America, and the US since 2020. In other words, though they constitute less than half of applications for six-figure jobs, they are often hired for more than half of those jobs. "The fact that they are applying for these six-figure jobs does not imply that the gender pay gap is narrowing," says Njuki. "This would require a comparison between the women in those six-figure jobs and the men in those six-figure jobs." "A big reason for the gender pay gap is not enough women in the higher-paid managerial and leadership positions.

Persons: —, Hewlett Packard, Jemimah Njuki, Yana Rodgers, Rodgers, Njuki, It's Organizations: Service, Business, Vanguard, Hewlett, UN, Center for Women, Rutgers University, McKinsey Locations: Asia, Europe, East, South America, United States

☆ Vietnam reportedly forfeits billions of dollars in foreign aid amid anti-graft freeze
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: +2 min

Vietnam forfeited at least $2.5 billion in foreign aid over the last three years and may lose another $1 billion because of administrative paralysis, the United Nations, the World Bank and Western donors told the government in a letter seen by Reuters. Vietnam forfeited at least $2.5 billion in foreign aid over the last three years and may lose another $1 billion because of administrative paralysis, the United Nations, the World Bank and Western donors told the government in a letter seen by Reuters. Two senior foreign officials interviewed by Reuters directly linked the administrative hurdles to the "blazing furnace" anti-graft drive, echoing similar comments from other diplomats and officials in recent months. The anti-graft drive has created a sort of paralysis, in which bureaucrats are slow to approve or advance initiatives because they fear accidentally violating complex regulations. The U.N. and the World Bank said they kept working closely with the government on projects, with the U.N. acknowledging in a statement to Reuters that there were "challenges" for the use of funding.

Persons: Pham Minh Chinh Organizations: United Nations, World Bank, Reuters, European Union, Japan, Asian Development Bank Locations: Vietnam, Communist, United States

☆ Former Facebook and Nike diversity manager gets 5 years in prison for $5 million fraud
▼ + stars: | 2024-05-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

A former diversity manager at Facebook and Nike was sentenced to five years and three months in prison for stealing more than $5 million from those companies that had been earmarked for DEI initiatives, federal prosecutors said. Georgia resident Barbara Furlow-Smiles, who pleaded guilty to wire fraud in the case in December, stole more than $4.9 million from Facebook "utilizing a scheme involving fraudulent vendors, fake invoices, and cash kickbacks," Atlanta U.S. Attorney Ryan Buchanan said in a statement. "After being terminated from Facebook, she brazenly continued the fraud as a DEI leader at Nike, where she stole another six-figure sum from their diversity program," Buchanan said. Furlow-Smiles, 38, used the money she stole "to fund a luxury lifestyle in California, Georgia and Oregon," according to Buchanan's office, which had asked a judge to sentence her to 6½ years. She was a lead strategist and global head of employee resource groups and diversity engagement at Facebook, the subsidiary of Meta.

Persons: Barbara Furlow, Ryan Buchanan, brazenly, Buchanan Organizations: Facebook, Nike, Atlanta U.S, Meta, Prosecutors, PayPal Locations: Georgia, California , Georgia, Oregon

☆ Harrison Butker speech: The biggest mistake he made in his controversial commencement comments
▼ + stars: | 2024-05-16 | by ( Aj Willingham | ) edition.cnn.com time to read: +10 min

CNN —The NFL is distancing itself from controversial comments by Kansas City Chiefs kicker Harrison Butker during a recent commencement address. However, plenty of women (and Taylor Swift fans) have made their feelings plainly known. Harrison Butker of the Kansas City Chiefs speaks to the media ahead of Super Bowl LVIII on February 5, 2024, in Las Vegas. Conservative voices have praised Butker’s speech for being “100% correct” and for reflecting his self-professed deep Catholic faith. Feminists and Taylor Swift fans have fired backButker, 28, has been with the Chiefs for seven seasons.

Persons: Harrison Butker, Butker, –, Taylor Swift, “ Harrison Butker, ”, Jonathan Beane, “, —, ” Butker, Isabelle, Robin Alam, Sam McDowell, Swift, Travis Kelce, Taylor, ’ ” Butker, Travis, ” Taylor Swift, Ezra Shaw, Harrison, I’ll, influencers, Elizabeth Keller Butker, Emory University’s, Vicki Chan, Kelce, Roger Goodell, Lisa Guerrero, • Butker, Joe Biden, Andrea Williams, Patrick Mahomes, “ Harrison Butker doesn’t, doesn’t, Yvette Walker, CNN’s Kevin Dotson Organizations: CNN, Kansas City Chiefs, Pride, Benedictine College, NFL, Chiefs, Super Bowl, Kansas City Star, Conservative, San Francisco 49ers, Getty, Emory, Emory University’s Winship Cancer Institute, Smith College, Football, Catholic, America Locations: Atchison , Kansas, Las Vegas, Atlanta, Massachusetts

☆ China's Baidu beats quarterly revenue estimates on ad recovery, cloud
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: +1 min

China's Baidu beat analysts' estimates for first-quarter revenue on Thursday, driven by a recovery in advertising sales and higher demand for its AI-powered cloud products. The company, China's largest search engine provider, reported revenue of 31.51 billion yuan ($4.37 billion) for the three months ended March 31, compared to analysts' average estimate of 31.21 billion yuan as per LSEG data. "Baidu Core's online marketing revenue remained stable, while the end-to-end optimization of our AI technology stack continued to propel the growth of our AI Cloud revenue during the quarter," said co-founder and CEO Robin Li in an earnings release. Revenue from Baidu Core, which includes its search-based ad sales, cloud offerings and autonomous driving initiatives, grew 4% to 23.8 billion yuan. Baidu reported adjusted net income of 7 billion yuan for the quarter, beating the analysts' average estimate of 5.57 billion yuan, according to LSEG data.

Persons: ERNIE Bot, Baidu, Robin Li Organizations: Baidu Locations: ZHEJIANG, CHINA

☆ Royal Caribbean and Norwegian have serious sustainable-food-supply-chain goals — here's how they compare
▼ + stars: | 2024-05-16 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Royal Caribbean Group and Norwegian Cruise Line Holdings aim to source their foods more sustainably. In 2023, the cruise giants Royal Caribbean Group and Norwegian Cruise Line Holdings accommodated more than 10.3 million travelers. Both companies have been increasingly shopping localBoth Norwegian and Royal Caribbean want to be net zero emissions by 2050. Royal Caribbean did not respond to an inquiry about its beef initiatives or plans to expand its plant-based offerings. That's not to mention all the heat that cruise companies already take for operating ships that are bad for the environment.

Persons: —, Brittany Chang, Linken D'Souza, Royal Caribbean's, Bambi Semroc, it's, Ravi Anupindi, Anupindi, Royal, Semroc Organizations: Royal Caribbean Group, Cruise Line Holdings, Chain Management, Service, Norwegian, Royal, Business, Royal Caribbean's, Conservation, University of Michigan's Ross School of Business, Marine Stewardship Council, Aquaculture, Council, Global Animal Partnership, Regent Seven Locations: buffets, Royal Caribbean, Europe, Seattle, Vancouver, Florida, California, New York City, Norwegian, Oceania

☆ China teases plan to buy unsold homes to fix property crisis. Markets are loving it
▼ + stars: | 2024-05-16 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The index has rallied nearly 30% from its January low, having entered a bull market earlier this month. Longfor Group, the ninth largest homebuilder in China, surged 11%, becoming the top performing stock on the Hang Seng Index. “We think this is a largely symbolic move to show support for the sector with a ‘national team’ for the housing market,” said Citi analysts. “We are cautiously optimistic about the ‘government-led buying on unsold units’ as it’s still being rolled out in more cities, “ said Jeff Zhang, an equity analyst at Morningstar. Nasdaq Golden China Index, which tracks Chinese companies listed on Wall Street, has gained 11% since the start of April.

Persons: ”, “, Jeff Zhang Organizations: Hong Kong CNN, Longfor, China Holdings, National Development, Reform Commission, ’, Citi, ING Group, Morningstar, homebuyers, Communist Party, Nasdaq Locations: China, Hong Kong, Beijing, Hangzhou, Xi’an, Chengdu, Shanghai

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCreator-economy startup Jellysmack has sold its catalog-licensing business, JellyFi, a company spokesperson told Business Insider. "Jellysmack's team has been extremely professional, and we hope to continue collaborating with them on many other opportunities," Copyright Capital's CEO Jack Ojalvo told BI in a statement. AdvertisementThe company entered the catalog-licensing business in early 2022, saying it would set aside $500 million for the effort. The company chose to deprioritize JellyFi in favor of more profitable core initiatives.

Persons: —, Frederic Porcherot, Jack Ojalvo, Jellysmack, Sean Atkins, deprioritize, X, it's Organizations: Service, Copyright, BI, Business, Keli Network, YouTube, Facebook, Creative, Jellysmack, Productions, Network Media LLC, Crime Network Locations: SoftBank

☆ Another top OpenAI exec just announced he's out, hours after Ilya Sutskever said he's leaving the company
▼ + stars: | 2024-05-15 | by ( Meghan Morris | ) www.businessinsider.com time to read: +3 min

Jan Leike, the co-lead of OpenAI's superalignment group, announced his resignation on Tuesday. Leike's exit follows the departure of Ilya Sutskever, OpenAI cofounder and chief scientist. Leike co-led OpenAi's superalignment group, a team that focuses on making its artificial intelligence systems align with human interests. Leike announced his departure hours after Ilya Sutskever, the other superalignment leader, said he was exiting. In a post on X, OpenAI cofounder Sam Altman said, "Ilya and OpenAI are going to part ways.

Persons: Jan Leike, OpenAI's, Ilya Sutskever, —, shakeup, Leike, OpenAi's, OpenAI, Sutskever, Sutskever's, Sam Altman, Ilya, Altman, Diane Yoon, Chris Clark, Yoon, Clark, Leopold Aschenbrenner, Pavel Izmailov, Daniel Kokotajlo, William Saunders Organizations: Service, Business Locations: OpenAI

☆ Instagram co-founder Mike Krieger joins Amazon-backed Anthropic
▼ + stars: | 2024-05-15 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

Instagram co-founder Mike Krieger will join artificial intelligence firm Anthropic as chief product officer, the company announced Wednesday. He and Instagram's other co-founder, Kevin Systrom, most recently built the personalized news app Artifact and sold it to Yahoo. Around this time last year, Anthropic had only rolled out the first version of its chatbot without any consumer access or major fanfare. News of Krieger's hiring follows Anthropic's debut of its first enterprise offering and iOS app earlier this month. And in March, Anthropic announced Claude 3, a suite of AI models that it says are its fastest and most powerful yet.

Persons: Instagram, Mike Krieger, Anthropic, Krieger, Kevin Systrom, OpenAI's, Claude, Mike, Daniela Amodei, It's, it's Organizations: Meta, Yahoo, Google, CNBC

☆ Is meme trading back? These 4 stocks could benefit from a retail investor boom
▼ + stars: | 2024-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Whether retail investors profit from their bets on GameStop and AMC Entertainment or not, one group of companies looks set to cash in from the frenzied trading: stock exchanges. So-called meme stocks, which gained popularity through social media platforms like Reddit and Twitter (or X), have attracted retail investors looking to make a quick profit. Through this new innovative offer, we will offer retail investors a true one-stop-shop experience for equity trading," he said in May 2023. "The rise of retail options trading is another secular trend we're excited to build on with more platforms coming online for index options trading later this year, giving retail investors expanded access to our products," Howson said on an earnings call to analysts this month. ICE, which owns the New York Stock Exchange and several other exchanges, offers trading in stocks, bonds, commodities, currencies and derivatives.

Persons: Eric Leupold, Deutsche Boerse, Benjamin Goy, Stéphane Boujna, FactSet, David Howson, Howson, Oppenheimer, Hannah Gooch, Peters, Marco Iachini , Organizations: GameStop, AMC Entertainment, Twitter, Deutsche Borse AG Deutsche Börse, Frankfurt Stock Exchange, Corona, Deutsche Börse, DB1, Deutsche Bank, Global Equity, Cboe, Wall Street, Intercontinental Exchange, Sanlam Investments, ICE, New York Stock Exchange, Vanda Locations: Germany, U.S, Switzerland, Italy, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, Paris, France, Portugal, Europe

☆ News publishers sound alarm on Google’s new AI-infused search, warn of ‘catastrophic’ impacts
▼ + stars: | 2024-05-15 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

In other words, users will soon no longer have to click on the links displayed in search results to find the information they are seeking. Why spend time clicking on a link when Google has already scoured the internet and harvested the relevant information with its A.I.? Coffey, whose organization represents more than 2,000 news publishers and has taken an aggressive posture toward A.I. This time with a product that directly competes with our content, using our content to fuel it. Most recently, it drew scorn after temporarily blocking some California news outlets from search results in response to a bill that would force it to pay publishers.

Persons: —, ” Danielle Coffey, Coffey, newsrooms, OpenAI, ChatGPT, Mark Zuckerberg, “, we’ll, ” Marc McCollum Organizations: New York CNN, Google, News / Media Alliance, Big Tech, The New York Times Locations: New York, California

☆ King Charles’ first official portrait by Jonathan Yeo unveiled
▼ + stars: | 2024-05-15 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

CNN —Buckingham Palace revealed the first official portrait of King Charles III since his coronation on Tuesday, and it’s proving to be divisive with its lurid red brushstrokes. The 8.5 by 6.5-foot painting is by British artist Jonathan Yeo, who has painted high-profile subjects throughout his career including former British Prime Minister Tony Blair, actor Nicole Kidman and education activist Malala Yousafzai. Artist Jonathan Yeo's oil on canvas portrait of Britain's King Charles III. It’s what Yeo captures here.”While the celebrated artist works mainly in oils, he has dabbled in another medium: collage. The King is an artist himself, and a collection of his watercolors went on show in London in 2022.

Persons: Buckingham, King Charles III, Jonathan Yeo, Tony Blair, Nicole Kidman, Malala Yousafzai, Yeo, Charles, Prince, Wales, ”, ” Yeo, Jonathan Yeo's, Britain's King Charles III, Wales's, Charles ’, Philip Mould, — Yeo, Camilla, you’ve, “, Richard Morris, George W, Bush, Arnold Schwarzenegger, Sarah Palin, Silvio Berlusconi, Mary Whitehouse Organizations: CNN, British, Welsh Guards, Company, ’, CNN’s Royal Locations: British, “, London

☆ Despite Billions in Investments, Biden Trails in Arizona and Georgia
▼ + stars: | 2024-05-15 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

President Biden’s economic policies have helped spur billions of dollars in new investments in Arizona and Georgia, two crucial battleground states in the 2024 election. Yet so far, Mr. Biden’s policies appear to have done little to lift his support in either region. Arizona and Georgia have been major beneficiaries of the Biden administration’s key policy initiatives — the Inflation Reduction Act, the CHIPS and Science Act and the bipartisan infrastructure law. Georgia has been a big beneficiary of Mr. Biden’s clean energy and infrastructure laws. Still, former President Donald J. Trump has maintained a significant lead over Mr. Biden in both states, according to new polls by The New York Times and Siena College.

Persons: Biden, Donald J, Trump Organizations: Semiconductor Industry Association . Georgia, Mr, The New York Times, Siena College Locations: Arizona, Georgia

☆ 5G and 6G are among 'the most strategic sectors' in the AI age, a national security advisor says
▼ + stars: | 2024-05-14 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +4 min

The US is strengthening its 5G infrastructure, according to a National Security Council official. She said the US must improve its telecom infrastructure. This article is part of "5G and Connectivity Playbook," a series exploring some of our time's most important tech innovations. The US is bolstering its 5G infrastructure in the age of AI. Anne Neuberger, the deputy national security advisor for cyber and emerging tech, said that 5G and 6G were some of "the most strategic sectors," especially since telecom and data-center infrastructure houses the data required to train artificial-intelligence models.

Persons: —, Anne Neuberger, Niloofar Razi Howe, Neuberger, It's Organizations: National Security Council, Service, Conference, Capitol Meridian Partners, Huawei, Telecom, Biden, Wireless, Chain Innovation, White House, Strategy Locations: San Francisco, China, India, Japan, Europe, Ukraine, Russia

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