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☆ China's air force is far from ready for a crucial mission it needs to seize Taiwan
▼ + stars: | 2024-01-27 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

A key component will be close air support , or CAS, which the US Air Force defines as "air action by aircraft against hostile targets that are in close proximity to friendly forces." But air support became more responsive "as the ground forces became more motorized and mechanized, and PLAAF capabilities improved." But the biggest limitation for Chinese close air support remains command and control. AdvertisementWhile China is beginning to make strides here, the PLA's approach to close air support has key differences with America's. Chinese CAS also "appears to have a simpler and streamlined command and coordination system compared to U.S. close air support," wrote McCauley.

Persons: Kevin McCauley, McCauley, Ethan R, Jones, Brendan Mulvaney, Mulvaney Organizations: Service, Business, US Air Force, Air, Marine Corps, People's Liberation Army, People's Liberation Army Air Force, US, Foreign Military Studies, CAFS, US Army, US 9th Air Force, CAS, US Marine Corps, PLA, US Air, China Aerospace Studies Institute Locations: China, Taiwan, Ukraine, Russian, Soviet, Normandy, Britain, Korea, Vietnam, Afghanistan, Iraq

☆ China says US military makes region more dangerous after Navy ship sails through Taiwan Strait
▼ + stars: | 2024-01-26 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

Seoul, South Korea CNN —China accused the United States military of “abusing international law” and continuing a pattern of “dangerous provocations” in East Asia Thursday, after a US Navy destroyer made the service’s first transit of the Taiwan Strait of 2024. The USS John Finn (DDG 113) conducts routine operations in the East China Sea, on January 24, 2024. John Finn’s transit through the Taiwan Strait demonstrates the United States’ commitment to upholding freedom of navigation for all nations as a principle,” Greene said. While the John Finn’s transit of the Taiwan Strait was the first of 2024, US warships and warplanes regularly travel through and over the waterway. Aquilino told a defense forum in Hawaii that he expected a show of force from China against Taiwan in the wake of the election result.

Persons: ”, John Finn, Xi Jinping, reunify, Justin Stack, Cmdr, Meagan Greene, John Finn’s, ” Greene, John, Collin Koh, Washington, Wu Qian, “, John Aquilino, Aquilino, ” Aquilino, ” Koh Organizations: South Korea CNN, United, US Navy, Democratic Progressive Party, Party, Taiwan, Taiwan Relations, U.S . Navy US Navy 7th Fleet, Coast Guard, Rajaratnam, of International Studies, China’s Defense Ministry, Xinhua, China -, Defense, Pacific Command, Communist Party, Clinton, CNN, Pacific Locations: Seoul, South Korea, China, United States, East Asia, Taiwan Strait, Taiwan, Beijing, East China, State, States, Singapore, China - U.S, U.S, Hawaii, Honolulu ., Washington

BUDAPEST, Hungary (AP) — With Turkey completing its ratification of Sweden's bid to join NATO, Hungary is the last member of the military alliance not to have given its approval. Orbán has long promised that Hungary wouldn't be the last NATO member to ratify Sweden's request to join the alliance. Yet Orbán's critics say that there is no such schism within his party, and that when it comes to Hungary's approval of Sweden's NATO membership, Orbán alone is in control. Hungary's opposition parties, which favor Sweden's membership in NATO, have made several attempts over the past year to schedule a vote on the matter. “Anybody who believed that it’s in the hands of the governing party lawmakers was seriously mistaken,” she said.

Persons: Viktor Orbán, Orbán, Hungary wouldn't, —, Agnes Vadai, parliament's, It’s, ”, he'd, Ulf Kristersson, Kristersson hasn't, Tobias Billström, Budapest hasn't, he’d, Jens Stoltenberg, Dorka, Kristersson, “, ” Vadai, Vladimir Putin, Vadai, Orbán's Organizations: —, Turkey, NATO, Central European, Fidesz, European Union, Democratic Coalition, Ministry of Defense, Hungary, Centre, Integration Locations: BUDAPEST, Hungary, Budapest, Sweden, Turkey, Stockholm, Swedish, Ukraine, NATO

☆ Watch CNBC's full interview with Etsy CEO Josh Silverman
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Etsy CEO Josh SilvermanEtsy CEO Josh Silverman joins 'Money Movers' to discuss the company's new AI integration, how this new product will manifest itself in Etsy's marketing, and how it's different than what competitors offer.

Persons: Josh Silverman

☆ Etsy CEO on 'Gift Mode': Leverages AI to help find the perfect gift
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEtsy CEO on 'Gift Mode': Leverages AI to help find the perfect giftEtsy CEO Josh Silverman joins 'Money Movers' to discuss the company's new AI integration, how this new product will manifest itself in Etsy's marketing, and how it's different than what competitors offer.

Persons: Josh Silverman

☆ This Swiss auto parts maker's stock could soar by 75%, Vontobel says
▼ + stars: | 2024-01-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Switzerland-listed car parts manufacturer Autoneum's share price could increase by over 70% in the next year, according to Vontobel. The investment bank raised its price target on Autoneum to 215 Swiss francs ($248), representing a potential 74% upside from the current share price of 123.80 francs. However, Autoneum's organic sales grew only 7.2%, lagging the broader recovery, according to the car parts maker's full-year revenue results, released Monday. CHF= 1Y line When excluding negative currency effects that lowered sales by 7.2%, Autoneum's 2023 revenue was 2.43 billion Swiss francs, meeting the company's own guidance. In contrast to Vontobel's bullish outlook, Swiss bank UBS has a neutral view of the stock, with a price target of 110 CHF — 10% below the current share price.

Persons: Vontobel, Arben Hasanaj Organizations: BMW, Ford, Renault, Mercedes, GM, Volvo, UBS, — Locations: Switzerland, Zurich, Asia, Swiss

☆ Review: They Fly. They Spin. They Change How You See the Amazing.
▼ + stars: | 2024-01-24 | by ( Brian Seibert | ) www.nytimes.com time to read: +1 min

Inverted, they spin on one or both hands or on their heads, legs spiraling. Upright, they bound into the air, as if off trampolines, ball up their bodies and rapidly rotate in high-flying arcs. What for other dancers might be show-off steps are integrated into a poetic vision, a different way of being. Like all the works the company has performed in New York, this is very much an ensemble piece. For 75 minutes, its 18 dancers never leave the stage.

Persons: Koubi’s “ Sol Invictus, Van Cleef Organizations: Hervé, New York, Joyce Locations: Koubi’s, New, New York

☆ Spotify to begin in-app sales on iPhone in Europe after new EU law requires Apple to allow it
▼ + stars: | 2024-01-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Spotify said Wednesday it will update its iPhone app in Europe to allow users to buy in-app subscriptions and audiobooks. In most regions, Apple's App Store rules prohibit companies such as Spotify from billing users directly within the app. Apple says app makers should instead use Apple's App Store billing service, which takes a cut of up to 30%. Spotify said it will use the new regulation to allow users to subscribe to Spotify Premium, allow users to buy audiobooks, and run promotional campaigns, all within the app. The company will also allow iPhone users to directly download other Spotify apps from its website, such as Spotify for Artists, it said.

Persons: gatekeepers, Tim Cook, Morgan Stanley, Erik Woodring Organizations: Spotify, Apple, Markets, SEC, Artists, App Locations: Europe

☆ The B-21 Raider took its first flight just 2 months ago, but the Pentagon is already sure it wants more of its new stealth bomber
▼ + stars: | 2024-01-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The B-21 Raider, the US Air Force's newest bomber, has already entered production. AdvertisementProduction of the B-21 Raider is underway, a top Pentagon official revealed this week, a little more than two months after the US Air Force's newest bomber completed its maiden flight. AdvertisementThe B-21 Raider is seen in an undated photograph released on Dec. 2, 2022. Northrop Grumman unveils the B-21 Raider during an event in Palmdale, California on Dec. 2, 2022. The B-21 "Raider," a long-range stealth bomber that can be armed with nuclear weapons, takes off during its first flight in California on Nov. 10, 2023.

Persons: —, William LaPlante, LaPlante, David Swanson, Defense Lloyd Austin, Austin, Northrop Grumman Organizations: Raider, US Air Force's, Pentagon, Service, Business, Northrop Grumman, US Air Force, ., US, REUTERS, Defense Locations: Palmdale , California, California

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ Moody's is negative on Asia's sovereign creditworthiness in 2024 as China growth slows
▼ + stars: | 2024-01-22 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Moody's Investors Service has a negative outlook for sovereign creditworthiness in Asia-Pacific this year, due to China's slower economic growth as well as tight funding and geopolitical risks. China's rebound from the Covid-19 pandemic wasn't as fast as several economists had expected at the start of 2023. In a Jan. 15 report, Moody's predicted China's real GDP growth would slow to 4% this year and next, from an average of 6% between 2014 and 2023. The credit rating agency said the slowdown in China's growth "significantly influences" APAC economies because of its strong integration in global supply chains. Goldman Sachs and Morgan Stanley, among other major international investment banks, predict China's economy to grow at a slower pace of 4.6% in 2024, down from 5.2% expected for 2023.

Persons: Moody's, Goldman Sachs, Morgan Stanley Organizations: Moody's, National Bureau of Statistics Locations: Asia, Pacific

MILAN (AP) — AC Milan goalkeeper Mike Maignan says too many people are “complicit” in allowing racism to continue blighting soccer, and urged authorities to take stronger action after he suffered racist abuse on Saturday night. It's not the first time it's happened to me and I'm not the first person it's happened to,” Maignan wrote in French on X, formerly known as Twitter. “The fans in the stands, who saw everything, who heard everything but decided to stay quiet, you are complicit,” Maignan continued on X. Enough is enough.”Maignan, whose brilliant performances helped Milan win the Serie A title in 2022, praised those who helped him to cope. "We reaffirm our aversion to any form of discrimination and express our profound solidarity with the AC Milan player Mike Maignan in light of Saturday’s deplorable incident at our stadium.

Persons: Mike Maignan, Maignan, DAZN, “ It's, It's, I'm, ” Maignan, “ We've, ”, Prince Boateng, Mario Balotelli, Lukaku, Gianni Infantino, Kylian Mbappé, ” Mbappé, “ Organizations: MILAN, — AC Milan, Udinese, Serie, FIFA, Maignan, Milan, AC Milan, ” Udinese, “ Udinese Locations: Italy

☆ BYD and more: AllianceBernstein names top Asian stock picks for the next 6 months, gives one over 60% upside
▼ + stars: | 2024-01-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

"We also believe the demand for memories will remain strong thanks to the growing demand for generative AI and more broadly for compute," the bank's analysts wrote. AllianceBernstein expects the share price of Samsung to hit 92,000 Korean Won ($68.44) in the next 12 months, giving it potential upside of 29.4%. "BYD's unparalleled cost structure and vertical integration of powertrain will enable it to achieve a dominant market share in this segment," the bank's analysts wrote. AllianceBernstein's target price of 334 Hong Kong dollars ($42.71) gives it around 61.5% upside. AllianceBernstein gave the giant a price target of $170, giving it around 33% upside.

Persons: Bernstein, Ann Larson, AllianceBernstein, Tesla, Holdings AllianceBernstein, PDD, — CNBC's Michael Bloom Organizations: Street, Samsung Electronics, SK Hynix The South, Samsung, Won, SK Hynix, Hong, Holdings, PDD Holdings Locations: Asia, China, Hong Kong

☆ How much TikTok pays employees in the US, from data scientists to software engineers, according to salary data
▼ + stars: | 2024-01-19 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +109 min

Some examples of salary offers for corporate functions include:AdvertisementAccountant, Expense Management : $73,000: $73,000 HR Business Partner : $127,680 median; ranging from $90,000 to $182,880: $127,680 median; ranging from $90,000 to $182,880 HR Specialist: $114,000 median; ranging from $85,000 to $170,000DesignEmployees on the design team "shape the visual representation" of TikTok's products and business, creating "unique designs that are not just visually appealing, but also express the aesthetic of our brand," the company wrote. : $320,000: $320,000 Android Software Engineer, TikTok Monetization : $210,000: $210,000 Android Software Engineer, TikTok Privacy : $190,000: $190,000 Android Software Engineer, TikTok Social : $126,640 median; ranging from $65,000 to $288,000: $126,640 median; ranging from $65,000 to $288,000 Android Software Engineer, TikTok User Growth : $227,000 median; ranging from $221,000 to $233,000: $227,000 median; ranging from $221,000 to $233,000 Applied Machine Learning Engineer : $273,340 median; ranging from $180,000 to $306,000: $273,340 median; ranging from $180,000 to $306,000 Applied Machine Learning Engineer, Recommendation : $190,000: $190,000 AR Effects Interactive Engineer : $125,000: $125,000 AR Software Engineer : $125,000: $125,000 Audio Engineer : $75,000: $75,000 Backend Engineer : $128,000: $128,000 Backend Engineer, Ads Platform : $172,000 median; ranging from $125,000 to $240,000: $172,000 median; ranging from $125,000 to $240,000 Backend Engineer, Content Ecosystem : $222,360: $222,360 Backend Engineer, Lark Innovation : $160,000: $160,000 Backend Engineer, Machine Learning : $157,680 median; ranging from $157,680 to $175,000: $157,680 median; ranging from $157,680 to $175,000 Backend Engineer, Risk Systems : $295,000 median; ranging from $150,000 to $320,000: $295,000 median; ranging from $150,000 to $320,000 Backend Engineer, TikTok Ads Creative and Ecosystem : $250,000: $250,000 Backend Engineer, TikTok Ads Creativity and Ecosystem : $207,500 median; ranging from $175,000 to $240,000: $207,500 median; ranging from $175,000 to $240,000 Backend Engineer, TikTok Eng. : $220,000 median; ranging from $160,000 to $285,000 0 #NUM! Software Engineer, Computer Vision : $165,000 median; ranging from $165,000 to $200,000: $165,000 median; ranging from $165,000 to $200,000 Software Engineer, Computer Vision, Intelligent Creation : $200,000 median; ranging from $200,000 to $265,000: $200,000 median; ranging from $200,000 to $265,000 Software Engineer, Core Services : $204,000 median; ranging from $125,000 to $244,680: $204,000 median; ranging from $125,000 to $244,680 Software Engineer, Core Service, Application Security : $129,680: $129,680 Software Engineer, CRM : $175,000 median; ranging from $125,000 to $300,555: $175,000 median; ranging from $125,000 to $300,555 Software Engineer, Data Access Team : $230,000: $230,000 Software Engineer, Data Mining : $169,680: $169,680 Software Engineer, Data Mining USDS : $182,400: $182,400 Software Engineer, Data Platform : $186,000 median; ranging from $170,000 to $216,880: $186,000 median; ranging from $170,000 to $216,880 Software Engineer, Data Security and Compliance : $180,000: $180,000 Software Engineer, Database Kernel Development : $130,000 median; ranging from $128,000 to $220,000: $130,000 median; ranging from $128,000 to $220,000 Software Engineer, Distributed Storage System : $285,000 median; ranging from $180,000 to $285,000: $285,000 median; ranging from $180,000 to $285,000 Software Engineer, Engineering Productivity : $195,000: $195,000 Software Engineer, Front-End : $147,000: $147,000 Software Engineer, Front-End, Ads Technology : $125,000: $125,000 Software Engineer, Full Stack : $180,000: $180,000 Software Engineer, Full Stack, Ads Technology : $147,500 median; ranging from $125,000 to $170,000: $147,500 median; ranging from $125,000 to $170,000 Software Engineer, Full Stack, E-Commerce Engineering and Architecture : $205,000: $205,000 Software Engineer, Full Stack, Vertical Solutions : $220,000: $220,000 Software Engineer, Global E-Commerce Customer Business : $195,000 median; ranging from $133,240 to $225,000: $195,000 median; ranging from $133,240 to $225,000 Software Engineer, Global Payment : $161,000 median; ranging from $155,000 to $215,000: $161,000 median; ranging from $155,000 to $215,000 Software Engineer, Gov. and Experience, TikTok E-Commerce : $241,540 median; ranging from $219,680 to $263,400: $241,540 median; ranging from $219,680 to $263,400 Software Engineer, GPU Management : $128,000 $128,000 $128,000 0 #NUM!

Persons: —, It's, TikTok, it's, ByteDance, TikTok Eng, Tiktok Organizations: Service, Business, US, of Foreign Labor, Live, US Data Security, Security, US Department of Labor, Corporate, Employees, TikTok, Tech, Commerce, Marketing, Staff, Trust, Safety, Brand, Android Software, Computer, Global Agency Relations, Global Security Technology, Infrastructure Engineering, Android, Machine, Interactive, Systems, Data Systems, Engineer, Commerce Data Intelligence, Commerce Logistics, Chain, Logistics, Media, US Tech Services, Big, Business Intelligence, Protection, Network Security, Business Systems, Cash, Cloud, Networking Software, Public, Tech Service, Technology, Technology Systems, Infrastructure, Network Business, NA, Defense, US Tech Service, Analytics, Research, Mining, Solutions, Tech Services, Pico, Forensics, Development, Control, Financial, CRM, Global, Learning, Traffic, TCMS, Communications, Graphics, Monetization Technology, Management, Products, Resources, IDC Logistics, DevOps, IOS, GNE Global, Software, Procurement, Commerce Global, Strategic, Global Business, Merchant, Mobile Security, Mobile Software, Multimedia Research, Regional, Sound Engineering, Professional Services, Community, Relations, Real, Commerce Trading, Creative, Enterprise, Virtual Network, Storage, Data Security, Smart, Finance, ML Systems, Cloud Infrastructure, TikTok US Tech Services, Monetization Tech, Learning Systems, Core Services, Core Service, Data Mining, Engineering, Commerce Engineering, Mobile, Revenue Management Locations: ByteDance, TikTok, TikTok Commerce, America, Mexico, Americas, Commerce

☆ German Lawmakers Agree to Ease Path to Citizenship
▼ + stars: | 2024-01-19 | by ( Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

Lawmakers in Berlin approved legislation allowing shorter waiting periods before naturalization and the possibility of dual citizenship, ushering in changes that proponents say will draw more skilled workers to the country and that opponents warn will lessen the value of German citizenship. “Our reform is a commitment to a modern Germany,” Nancy Faeser, the country’s interior minister, said in a statement. “We are creating a modern immigration law that does justice to our diverse society,” she added, noting that it was high time for such a change. That waiting period can be reduced to three years for exemplary cases of integration or service to the German state. They will also allow dual citizenship, which currently is not widely allowed.

Persons: ” Nancy Faeser Organizations: Bundestag Locations: Berlin, Germany, Germany’s

☆ Arizona State students will get their own ChatGPT-powered tutors as OpenAI partners with the university
▼ + stars: | 2024-01-19 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewStudents at Arizona State University will soon have access to personalized OpenAI's ChatGPT Enterprise. This story is available exclusively to Business Insider subscribers. The university plans to build personalized AI tutors and avatars for students and expand its prompt engineering course. Representatives for OpenAI did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Lev Gonick, OpenAI, ChatGPT Organizations: Service, Arizona State University, Business, ASU, Universities Locations: OpenAI

☆ 2023's AI boom was about 'obvious' plays — here's how to invest in the next leg, according to Citi
▼ + stars: | 2024-01-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Here are four areas that are "clear beneficiaries from the coming integration of AI into everyday business and personal lives," according to Citi. AI infrastructure Key suppliers along the global semiconductor value chain are set to be big beneficiaries in 2024, Citi said. That will include chipmakers, semiconductor equipment and data centers. The continuing manufacturing and e-commerce boom will lead to the need for more automation and robotics, according to Citi. Cybersecurity Citi warned of a sinister side to the proliferation of AI: hackers using AI chatbots to write the code to carry out cyberattacks.

Persons: Kristen, there's, Cybersecurity Organizations: Nvidia, Citi, Citi Global Wealth, Semiconductor, FDA, Citi Research, Robotics, Cybersecurity Citi Locations: Singapore

☆ Amazon entertainment layoffs stir 4 big questions for insiders about the tech giant's Hollywood ambitions
▼ + stars: | 2024-01-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

The layoffs hit Prime Video and the Amazon MGM Studios division, with many of the cuts related to Amazon's $8.5 billion acquisition of MGM in 2022, the second biggest deal in the tech giant's history. The layoffs, combined with other factors straining the entertainment business — from strikes to content spending pullbacks — have heightened concerns about the future of the company's entertainment ambitions. These are the questions that came up the most about that future, according to conversations with six people close to Prime Video and Amazon MGM Studios. As part of the layoffs, two MGM teams were integrated under Chris Brearton, a business-side exec who joined Amazon with the MGM acquisition in 2022. How will sports impact original content spending?

Persons: what's, Jen Salke, Freevee, didn't, Who's, Chris Brearton, Salke, Mike Hopkins, What'll, there's Organizations: Amazon, Amazon MGM Studios, MGM, Amazon's, Hollywood Reporter, Hollywood, Diamond Sports, MLB, NHL, NBA Locations: Salke, Africa, MENA, Northern, Central

Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.

Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's

☆ UBS CEO says Swiss public 'indoctrinated' to worry about bank's balance sheet
▼ + stars: | 2024-01-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank's balance sheet are getting "indoctrinated" by academics and should "do their homework." The bank's share price has recovered from below 17 Swiss francs ($19.69) per share in the aftermath of the deal to over 25 Swiss francs as of Wednesday morning. However, the new entity's combined balance sheet is estimated to be around twice the size of the entire GDP of Switzerland, raising concerns about the concentration of risk in the Swiss economy. "If you look at risk-weighted assets as a percentage of GDP or as a percentage of our balance sheet, you will discover that the new UBS is de facto very low risk, very focused business model. The risk we have is in Swiss mortgages, in Lombard loans, in stuff that is very low risk," he said.

Persons: Sergio Ermotti, Ermotti Organizations: UBS, Credit Suisse, Swiss, CNBC, Economic Locations: Swiss, Switzerland, Davos, Lombard

☆ 2024's wave of elections predicted to derail food security progress
▼ + stars: | 2024-01-16 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

DAVOS, SWITZERLAND — The slew of upcoming global elections could derail international efforts to secure long-term food supplies, according to the International Fund for Agricultural Development (IFAD). Almost half of the governments in the world are going to go through elections," Lario said Monday at the World Economic Forum in Davos. Those include actions which enable more local food production, greater integration of regional markets and further crop diversification. "We thought after the Ukraine shock that [tackling the root causes] was going to be a given, and there was a lot of momentum. It is estimated that around one in 10 people globally suffer from food insecurity or reliable access to nutritious food, according to UNICEF.

Persons: Alvaro Lario, Lario, —, It's Organizations: International Fund for Agricultural Development, CNBC, Economic, UNICEF Locations: DAVOS, SWITZERLAND, Davos, Europe, Ukraine

☆ Microsoft's everyday AI companion Copilot is here to help – if you're willing to pay
▼ + stars: | 2024-01-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Read previewMicrosoft is ready to offer you a personal AI buddy — if you're willing to pay. The Redmond tech giant is rolling out its "everyday AI companion," called Copilot, to both individuals and small and medium-sized businesses through paid subscription services. On one level, Copilot is a generative AI tool integrated into Microsoft's suite of apps: think Word, Excel, PowerPoint, Outlook and Teams. Divya Kumar, Microsoft's search and AI marketing chief, told Business Insider there's a simple reason to pay: to get priority access to the best AI models. In a demo, Kumar used Outlook to show how Copilot could help save time on emails.

Persons: —, Bill Gates, Bennett Raglin, Gates, ChatGPT, Satya Nadella, Stephen Brashear, Divya Kumar, OpenAI, Kumar, It's Organizations: Service, Redmond, Business, Microsoft, Getty

☆ We're raising our Morgan Stanley price target despite the stock's post-earnings decline
▼ + stars: | 2024-01-16 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Morgan Stanley on Tuesday morning reported an adjusted earnings-per-share beat. MS 1Y mountain Morgan Stanley 1 year Shares of Morgan Stanley were on a five-session losing streak with Tuesday's post-earnings 5% decline. However, Morgan Stanley — and for that matter, Wells Fargo — saw their stocks surge into the end of 2023. Asset management revenue increased 6% from last year, reflecting higher asset levels and the impact of positive fee-based asset flows. Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023.

Persons: Morgan Stanley, Wells Fargo, Morgan Stanley's, Morgan Stanley —, Ted Pick, Morgan Staley, ROTCE, it's, Morgan, Morgan Stanley repurchased, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, Bloomberg, Federal Deposit Insurance Corporation, Silicon Valley Bank, Morgan, Wealth Management, Investment Banking, FDIC, Institutional Securities, Investment, Equity, Morgan Stanley's Wealth Management, Investment Management, Asset, Capital, CNBC, Bloomberg Television, Getty Locations: Silicon, Wells Fargo —, U.S, New York

☆ IMF warns AI to hit almost 40% of jobs worldwide and worsen overall inequality
▼ + stars: | 2024-01-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The IMF noted that about 60% of jobs could be impacted by AI in high-income nations, and roughly half of these may benefit from AI integration to boost productivity. Comparatively, AI exposure was estimated to come in at 40% in emerging markets and at 26% in low-income countries, respectively. The findings suggest that emerging markets and low-income countries face fewer disruptions from AI in the short-term. The IMF also flagged that AI could affect income and wealth inequality within countries, warning of "polarization within income brackets." The IMF report comes as business and political leaders from around the world gather at the World Economic Forum in Davos, Switzerland.

Persons: Hollie Adams, Kristalina Georgieva, Georgieva, Goldman Sachs, WEF Organizations: Economic, Bloomberg, Getty, Monetary Fund, D.C, IMF Locations: Davos, Switzerland, The Washington

☆ AI will affect about 40% of global jobs: IMF
▼ + stars: | 2024-01-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

IMF chief Kristalina Georgieva says AI will impact roughly 40% of global employment. She expects advanced economies to be more affected than emerging markets and developing economies. AdvertisementIMF Managing Director Kristalina Georgieva predicts that AI will affect roughly 40% of jobs worldwide. This is because of AI's "ability to impact high-skilled jobs," Georgieva said. In comparison, Georgieva expects emerging markets and developing economies to "face fewer immediate disruptions from AI."

Persons: Kristalina Georgieva, —, Georgieva, Goldman Sachs, Annesh Raman, Raman, Molly Wood Organizations: Service, IMF, Business Insider

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