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☆ Cybersecurity professionals say generative AI can be exploited in cyberattacks — but it can also be a powerful defense
▼ + stars: | 2024-05-07 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +5 min

Generative AI is revolutionizing cybersecurity in connected networks. Generative AI has become a double-edged sword for the security of connected networks. On one hand, generative AI can speed up cybersecurity problems, making it easier and cheaper for bad actors to conduct identity attacks. Business Insider spoke with several cybersecurity professionals who attended the annual RSA conference this week in San Francisco about how generative AI is increasingly used in cybersecurity for 5G devices and networks. Now that mobile and Internet of Things devices have become more ubiquitous, they're using even more data, which generative AI can help filter and secure.

Persons: —, David Cooper, Cooper, Shaun McAlmont, Chris Novak, David Aviv, Steve Wilson, Ev Kontsevoy, It's, Rohit Ghai, Ghai, Wilson Organizations: Service, Accenture Security, RSA, Verizon Business Locations: cybersecurity, San Francisco

☆ How AI is changing OnlyFans and adult content creation, from chatting to 'AI twins,' and where the future is headed
▼ + stars: | 2024-05-07 | by ( Marta Biino | ) www.businessinsider.com time to read: +12 min

Many AI adult influencers have turned to OnlyFans competitor Fanvue to monetize their content. MySentient has been investing in creating "sentient" AI chatbots based on people that range from adult creators like Amouranth to Jesus. Elaina St James has used different AI tools to generate images of herself in different contexts and outfits. To create these characters, they use a variety of AI tools, including Unstable Diffusion, an AI image generator that focuses on NSFW content. Others see the power of AI but also the issues it could create for the adult industry as a whole.

Persons: Riley Reid, Ana Levy, Isla Moon, Jada Sparks, Fanvue, it's, OnlyFans, Fortune, Riley Reid's Clona, immortalize, Riley, MySentient, Amouranth, Jesus, Reese Leysen, Leysen, We've, Robert Weiss, that's, she'd, James, Elaina, James Level, —, Eva AI, MyClub.ai, Eva, MyClub, Jessica Moore, Elaina St James, St James, Zoe Fox, Aika Kittie, Margot Robbie, Influencer Sophie Annaston, she's, Sophie Annaston, who's, It's, Charles Lyle Organizations: Business, MyClub, AVN, Media Locations: Philippines, India, Pakistan, Canada, Spanish, Fanvue, Lipa

Learn moreMbappe and PSG are starting tonight's Champions League semi-final second leg on the backfoot after a defeat to the Germans last week. As mentioned in our regular guide to free Champions League live streams for every round, there are multiple free options for tonight's game at Parc des Princes. Then get stuck in and enjoy this free Champions League live stream. How to watch PSG vs. Dortmund live stream with a VPNSign up for a VPN if you don't have one. Where to watch PSG vs. Dortmund in AustraliaThe Champions League is a Stan Sport exclusive in Australia and you can watch every game there.

Persons: They're, you'll, Stan, Stan Sport, ExpressVPN, you've, Stan Sport's, You'll Organizations: Business, PSG, Champions League, Parc des Princes, Real Madrid, Bayern, Dortmund, League, RTL Club, AWST ., BT Sport, TNT Sport, BT, TNT, Discovery, Amazon, Amazon Prime, Champions, Stan Sport, Sport, country's Champions League, Paramount Plus, Paramount, CBS Locations: Barcelona, Dortmund, Paris, Parc, RTE2, Ireland, RTL2, Luxembourg, Belgium, Italy, AWST, Australia, USA

☆ As high-paying jobs become harder to get, more Americans are looking to Uber and Lyft for extra income
▼ + stars: | 2024-05-07 | by ( Jacob Zinkula | Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Gig work, in particular ride-hailing for companies like Uber and Lyft, is getting more popular. AdvertisementMore and more Americans are taking up gig work for companies like Uber and Lyft — in part because some have fewer options to land high-paying jobs. Additionally, BofA found that people with ride-hailing income earned, on average, more a month than those who did delivery gig work. Vacation rental was the highest-earning gig BofA measured, but this is only accessible to people with a home to rent out. While some young people could value the supplementary income gig work can provide — particularly if they're struggling to pay the bills — others may end up disappointed.

Persons: Uber, —, Lyft, BofA, it's, they've, Kate Bahn, X, Gen, they're Organizations: Service, Bank of America, Bank of America Institute, Bureau of Labor Statistics, Institute for Women's, Research, Atlanta Fed, millennials

☆ I test-drove the 2024 Ford F-150 Raptor. The $84,000 price tag is worth it, especially for off-roading.
▼ + stars: | 2024-05-07 | by ( Jules Rogers | ) www.businessinsider.com time to read: +6 min

Automotive journalist Jules Rogers test-drove the 2024 Ford F-150 Raptor priced at $83,665 and loved it. AdvertisementIn a group of similar trucks, the 2024 Ford F-150 Raptor immediately stands out from the crowd. AdvertisementThe 2024 F-150 Raptor starts at $77,980, and the model I tested was listed at $83,665 with its optional upgrades. Interior and aestheticsThe interior of the 2024 Ford F-150 Raptor. The 2024 Ford F-150 Raptor.

Persons: Jules Rogers, —, Ford Organizations: Service, Raptors, Ford, Audi, Oregon, Raptor

☆ A 93-year-old who started running marathons in his 50s goes to spin class every morning. He does 3 things to stay healthy.
▼ + stars: | 2024-05-07 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

Read previewAt 93, John Starbrook competes in water polo games, hits the gym up to twice a day, and only stopped running marathons five years ago. As average life spans rise and an aging population becomes a global reality, interest in staying healthy for longer is growing. But a healthy lifestyle appeared to offset the effects of genes linked to a shorter lifespan by 62%. But he really amped things up at age 53 when he got into running marathons. Research suggests social bonds are an important part of a long, healthy life.

Persons: —, John Starbrook, Starbrook, Judy Organizations: Service, UK, Guardian, Business, McKinsey, US News, University of Bergen, US Health Department, Department, London, Research Locations: Norway, London

☆ These bond funds offering yields upward of 5% could take off as Fed policy becomes uncertain
▼ + stars: | 2024-05-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

That shakiness around when the cuts are coming, as well as the expectation that rates could remain higher for longer creates an opportunity for active managers. Rick Rieder, BlackRock's global chief investment officer of fixed income, told CNBC in a phone interview. Indeed, core bond funds were among the winners in the 2008 crisis. For starters, they should think about the role they want a given bond fund to play within their portfolio: Is it to offset equity risk or to boost returns? "You're not investing in bond funds to shoot the lights out and build your wealth pile," said Morningstar's Jacobson.

Persons: Rick Rieder, Rieder, Eric Jacobson, Morningstar, John Croke ,, Morningstar's Jacobson, Jaime Quinones, they're, Quinones Organizations: Federal Reserve, Barclays, Bank of America, Citigroup, CNBC, Bloomberg, SEC, Morningstar, Vanguard, Stockade Wealth Management, Mutual Locations: Marlboro , N.J

☆ AI 'pilots' are getting so good they're sometimes beating humans in dogfights
▼ + stars: | 2024-05-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Some AI-controlled fighter jets are outperforming human pilots in dogfights, per the AP. The outlet witnessed an hourlong experimental flight at the Edwards Air Force Base in California. The Air Force is reportedly planning a fleet of more than 1,000 AI-enabled unmanned warplanes. AdvertisementSome AI-controlled F-16 fighter jets are already outperforming human pilots in dogfights, according to a report from the Associated Press. The US Air Force has been actively exploring AI, which has been cited as a transformative technology for military action globally.

Persons: —, Frank Kendall, Kendall Organizations: Edwards Air Force Base, The Air Force, Service, Associated Press, AP, Air Force, Business, US Air Force, Industry, IDF Locations: dogfights, California, Israel

☆ Abortion bans drive away up to half of young talent, new CNBC/Generation Lab youth survey finds
▼ + stars: | 2024-05-07 | by ( Jason Gewirtz | ) www.cnbc.com time to read: +7 min

"These numbers on abortion have gigantic implications for just about every large company in America," said Cyrus Beschloss, the CEO of The Generation Lab. The CNBC/Generation Lab survey was conducted between April 26 and May 2, and has a margin of error +/- 3.1%. Sour on the economyThe survey also found that respondents had a negative opinion of an economy many would consider robust. The survey showed that 54% of respondents feel inflation impacts them the most in "the cost of food." Offered two options of how the government should proceed with TikTok, a large majority — 70% — of survey respondents said it should "allow TikTok to keep operating as usual."

Persons: Elijah Nouvelage, Cyrus Beschloss, they're, Roe, Wade, Jerome Powell, Powell, Delano Saporu, Saporu, Joe Biden, Steve Cohen, workweek, Kennedy, Biden, Donald Trump, Daniel Steinle Organizations: Emory University, AFP, Getty, CNBC, U.S, Federal Reserve, New Street Advisors, Congress, New York Mets, Biden, Trump, Bloomberg Locations: Atlanta , Georgia, USA, America, Washington, U.S, Waukesha, Waukesha , Wisconsin

☆ Amateur archaeologists found a mysterious 12-sided object from the Roman Empire that experts can't explain
▼ + stars: | 2024-05-07 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +5 min

An amateur archaeology group found a mysterious dodecahedron near an ancient Roman villa. Amateur archaeologists with the Norton Disney History and Archaeology Group have been excavating its remains, including a bathhouse, gatehouse, and ancient tiled mosaic floors for the last few years when they made a miraculous discovery. Though he'd never seen one in person, Rob Evershed, a member of the group, recognized the hollow, rounded object as a Roman dodecahedron. No one knows the purpose of the dodecahedronThe Norton Disney History and Archaeology Group on the day they discovered the dodecahedron. Dodecahedrons may have been custom-madeParker thinks it would've taken an expert to make the dodecahedron that the Norton Disney group found.

Persons: —, Richard Parker, Richard Watts, they've, Norton, we'd, Parker, he'd, Rob Evershed, Frances McIntosh, McIntosh, haven't, dodecahedrons Organizations: Service, Norton Disney, Group, BBC, Lincoln Museum, English Heritage, Washington Post Locations: London, Hertfordshire, England, England's Midlands, British, Britain, Roman, Belgium, Croatia, France, Germany, Great Britain, Hungary, Luxemburg, Netherlands, Switzerland, Italy, Spain, Africa, Turkey

☆ John Leguizamo on His Best Movie Roles: 'Carlito's Way,' 'Encanto'
▼ + stars: | 2024-05-07 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +11 min

Before John Leguizamo was an acclaimed writer, director, and film star, he was a young Latino actor just trying to get into audition rooms. On turning down 'Carlito's Way' multiple times and becoming a leading man(L-R) Al Pacino and John Leguizamo in "Carlito's Way." UniversalYou've spoken before about turning down "Carlito's Way" a few times before you eventually made the call to sign on. John Leguizamo as Luigi in "Super Mario Bros." (1993) Warner BrosOn doing too many 'ice movies' and feeling dissed by 'Mr. On 'Sigma male' Bruno and getting a bonus for 'Encanto'Maribel and Bruno (voiced by John Leguizamo) in "Encanto."

Persons: John Leguizamo, Leguizamo, Brando, James Dean, Shakespeare, William Goldman, Benny Blanco, Luigi, Mario, he's, He's, Al Pacino, I've, Benicio, Annabel Jankel, Rocky Morton, Mr, Smith, you've, Wears, Stanley Tucci, Robin Williams, Vince Vaughn, Sid, Sloth, Fox, —, Mike Berg, Peter Ackerman, Chris Wedge, Philip Seymour Hoffman, Ben Stiller, Ray Romano, Denis Leary, Michael Keaton, would've, hadn't, Bruno, Coco, that's, Lin, Manuel Miranda, Spike Lee, Sam, Mel Blanc, I'd Organizations: Broadway, New York Daily News, Warner Bros, Marvel, Sigma, Walt Disney Animation, Disney, Cannes, HBO Locations: Jackson Heights , Queens, Toro, Puerto Rican

☆ Russia is raising a stink about F-16s in Ukraine by saying they're nuclear-capable, even though the types of warplanes already deployed there can carry nukes
▼ + stars: | 2024-05-07 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Russia said on Monday that it would treat F-16s in Ukraine as an escalation because they're nuclear-capable. AdvertisementRussia warned on Monday against the expected arrival of F-16s in Ukraine, saying the US warplanes would be treated as an escalation given their potential as nuclear weapons platforms. AdvertisementMeanwhile, Russia has for months said the delivery of the F-16s is a provocation from NATO because they can be fitted to carry nuclear weapons. In any case, Ukraine does not possess any nuclear weapons in its arsenal, having surrendered them in 1994 when it gained independence. It is subject to the Treaty on the Non-Proliferation of Nuclear Weapons.

Persons: —, Sergey Lavrov, Ukraine's Su, it's, They're, Jake Epstein, Epstein Organizations: Foreign Ministry, Service, NATO, Russian Foreign Ministry, North Atlantic Treaty Organization, Russia, Soviet, British Storm Shadow, Nuclear Weapons, US Navy Locations: Russia, Ukraine, United States, North, Belgium, Denmark, Norway, Netherlands, Kyiv, Russian, Belarus, Minsk, Moscow

Indeed, starting at $499, the Pixel 8a is less expensive than the base $699 Pixel 8 and $999 Pixel 8 Pro. AdvertisementGoogle Pixel 8a: FeaturesThe Google Pixel 8a in "Aloe" (left) and "Bay" (right). The Pixel 8a's cameras aren't the same as the Pixel 8's — they're actually the identical cameras from the Pixel 7a. AdvertisementGoogle Pixel 8a: PriceThere are two storage options for the Pixel 8a models, 128GB and 256GB, with the higher storage option only available in the "Obsidian" colorway. Storage Pixel 8a 128GB $499 256GB $559AdvertisementThe Google Pixel 8a is available for preorder now from the online Google Store, Best Buy, Amazon, and carriers like Verizon.

Persons: It's, they're, we're Organizations: Business, preorder, Google, Verizon Locations: 120Hz

Apple revealed new iPad Air and iPad Pro models at its "Let Loose" event on Tuesday. The iPad Pro models are the first to feature OLED displays with deeper contrast. AdvertisementApple overhauled its iPad lineup on Tuesday during its "Let Loose" event in California — including fancy new screens for its top-of-the-line "Pro" models. AppleThe iPad Air comes in four colors: a new blue, a new purple, and the usual Starlight and Space Gray. Related storiesBut the standout feature is the new screens, which are the first OLED displays in the iPad lineup.

Persons: Apple, —, Tim Cook Organizations: Service, Apple, Gray, Apple Apple Locations: California

☆ The market tries to extend its winning streak. Here's what working for and against stocks
▼ + stars: | 2024-05-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Jerome Powell, Jim Cramer's, Stanley Black, Decker, Cramer, Jim, That's, there's, Nelson Peltz, Peltz, We've, we'll Organizations: CNBC, Federal, Logitech, After West Texas, Energy Department, Strategic Petroleum Reserve, Susquehanna, Disney, Developers, Apple, Wynn Resorts, Arista Networks, Rivian, Occidental Petroleum, Bros, Reddit, Emerson Electric, Jim Cramer's Charitable Locations: FirstSource, After, Macao, Las Vegas, Occidental, Lyft

☆ A recession in early 2025 could send the stock market tumbling 30%, strategist says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

A recession by early next year could send stocks down 30%, says BCA strategist Roukaya Ibrahim. AdvertisementThere are two factors signaling a recession by year-end or early 2025, and a downturn could spark a 30% correction in stocks, according to BCA strategist Roukaya Ibrahim. "But eventually, the unemployment rate is going to take higher and that's going to lead to concerns about a recession." Ibrahim isn't alone in calling a recession and a steep plunge in the stock market. Wall Street veteran Gary Shilling, known for predicting the mid-2000s mortgage bubble, is also forecasting a 30% stock market crash by the end of this year, with a recession likely to crush speculative bets that have piled up in recent years.

Persons: Roukaya Ibrahim, Gary Shilling, —, Ibrahim, Ibrahim isn't Organizations: Wall Street, Service, Bloomberg Locations: Friday's, China, Europe

☆ Uber and Instacart just formed an alliance, and they're taking aim at Doordash
▼ + stars: | 2024-05-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Instacart is now offering restaurant delivery through Uber Eats on its app. The partnership represents "a threat to DoorDash," Uber CEO Dara Khosrowshahi told Bloomberg. AdvertisementYou can now get restaurant takeout through Instacart thanks to a new partnership with Uber Eats. Restaurant orders placed through Instacart will be picked up and delivered by Uber Eats gig workers. Users of Instacart+, the company's paid subscription service, will get free delivery on restaurant orders over $35.

Persons: Instacart, Uber, Dara Khosrowshahi, It's, — Organizations: Bloomberg, Service, Business

☆ Emily Blunt has 'definitely not enjoyed' kissing some of her costars: 'I've had chemistry with people I haven't liked'
▼ + stars: | 2024-05-07 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Emily Blunt said she has "absolutely" felt sick having to kiss some of her male costars on set. Blunt didn't mention anyone specifically but joked she could have chemistry "with a water bottle." AdvertisementEmily Blunt said she hasn't enjoyed having to kiss some of her male co-stars during her career, but she knows how to build chemistry for a romantic scene. Related storiesBut when Stern asked the actor if she'd ever felt "sick" having to kiss some of her male costars, Blunt told the podcast per People: "Absolutely, absolutely. Blunt also said she hasn't always liked her costars, but audiences wouldn't be able to pick up on that.

Persons: Emily Blunt, Blunt, —, hasn't, Howard Stern, Guy, Jody, Ryan Gosling's, Colt, Tom Cruise, Dwayne, Johnson, Matt Damon, Tom Hanks, Stern, she'd, costars, I've, wouldn't, haven't, Kirsten Dunst, Anne Hathaway Organizations: Service, Sirius, Hollywood Locations: British

☆ As a college professor, I'm seeing more Gen X and Baby Boomer students than ever before. They're changing the way I teach.
▼ + stars: | 2024-05-07 | by ( Lisa Chilcote Bacco | ) www.businessinsider.com time to read: +5 min

I've been a college professor for 20 years, and I'm seeing more Gen X and Baby Boomer students. I no longer lecture to the class and instead let the older students take the lead. An increasing number of college students aren't kids anymore; they're older — many of whom are my generational peers. It's changed the way students learn and the way I teach. I quickly realized they learn differentlyI've noticed that older learners engage in ways that are different from traditional college students.

Persons: I've, Baby Boomer, —, there's, Gen Xers, It's, reboots, diversifies Organizations: Service, Boomers

☆ Apple wants to give the iPad a boost
▼ + stars: | 2024-05-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The tech giant's event will reportedly showcase a new family of… iPads and iPad accessories. But Apple's event , which kicks off at 10 a.m. EST, is looking to give the iPad a boost. iPhone sales have noticeably dipped, which is why you're hearing Apple tout its "services" business , writes BI's Peter Kafka. And the new product Apple wants you to be excited about — the Vision Pro — hasn't lived up to the hype. a16z joins the Big Tech "fake work" debate.

Persons: —, Tyler Le, they're, iPads, Antonio Villas, Boas, BI's Peter Kafka, Peter, hasn't, Katie Notopoulos, Wall, Lauren DeCicca, Tim Cook, Katie, aren't, I'd, we'll, I'm, Alyssa Powell, Danielle DiMartino Booth, James Devaney, Roger Kisby, Jack Dorsey's, Elon, Dorsey, Elon Musk, Satya Nadella, OpenAI, Jeff Bezos, Mark Zuckerberg, Warren Buffett, Berkshire Hathaway, a16z, Emily Sundberg, Andreessen Horowitz, David Ulevitch, Vladimir Putin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Apple, Google, Getty, US Treasury, National Bureau of Economic Research, Images, Penske Media, Microsoft, Tech, Paramount, Berkshire, Big Tech, Walt Disney Company Locations: BREIT, New York, London

☆ Will China's comeback stock rally last? Wall Street weighs in and shares stock picks
▼ + stars: | 2024-05-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.

Persons: Bernstein, it's, —, Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong

☆ Tesla must provide NHTSA with Autopilot recall data by July or face up to $135 million in fines
▼ + stars: | 2024-05-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Since the recall, at least 20 Tesla vehicles have been involved in crashes in which the system was thought to be in use, according to a filing on the NHTSA's website. The "recall remedy" probe follows a three-year investigation by the agency that found safety issues with Tesla Autopilot contributed to at least 467 collisions and 14 deaths from January 2018 through August 2023. The NHTSA is seeking detailed crash data from the electric vehicle maker since the agency issued the recall update on Autopilot, including data and video stored in or streamed from its cars and retained by the company. The company hasn't disclosed how many jobs in its Autopilot and vehicle-safety engineering teams may have been cut. For about a decade, CEO Elon Musk has been promising that Tesla is on the cusp of a self-driving breakthrough.

Persons: Tesla, Autosteer, They're, Elon Musk, Musk Organizations: Traffic, Administration, NHTSA Locations: U.S

☆ How a strained consumer 'plays right into' the hands of this discount retailer
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

"That all really kind of plays right into Ollie's hands." Her $92 price target implies about 17%% upside from Monday's close. The average analyst has a buy rating and target for shares suggesting upside of more than 12%, according to LSEG. Ollie's shares are lagging the broader market in 2024 with a gain of almost 5% versus the S & P 500's 9% gain. OLLI 1Y mountain Ollie's shares over the past 12 months.

Persons: Anthony Chukumba, it's, Price, Melanie Nuñez, Ollie's, Nuñez, Chukumba, OLLI, Truist's Scot Ciccarelli, Ciccarelli, TJ Maxx, BofA's Nuñez, Chukumba's, FirstCash Organizations: Capital, Federal, Amazon, Walmart, Bank of America, Wall, Ross Locations: McDonald's, Harrisburg , Pennsylvania, Monday's, Ollie's

☆ Inside the Growing Alarm Over Blackstone's BREIT Real-Estate Fund
▼ + stars: | 2024-05-07 | by ( Bethany Mclean | ) www.businessinsider.com time to read: +23 min

Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.

Persons: Blackstone, —, BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres

☆ A soft landing will be tough to achieve, and inflation has hit lower-income Americans hard, Citi CEO Jane Fraser says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

A "soft landing" scenario is unlikely for the US economy, Citi CEO Jane Fraser said. "We're seeing a much more cautious low-income consumer," Fraser said. AdvertisementIt's going to be tough for the US to stick an economic soft landing, and rampant inflation is hitting lower-income Americans hard, Citi CEO Jane Fraser said. "It's hard to get a soft landing," Fraser told CNBC on Monday. Yet, Fraser cautioned against declaring a soft landing was a done deal.

Persons: Jane Fraser, Fraser, —, Gary Shilling, Roukaya Ibrahim Organizations: Citi, Service, CNBC, Federal Reserve

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