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☆ DeSantis tourism board approves $17 billion development deal with Disney that could pave the way for a 5th theme park
▼ + stars: | 2024-06-13 | by ( Lauren Edmonds | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Read previewCentral Florida's tourism district unanimously approved a $17 billion development deal with Disney that could mean a new era for the company's profitable theme parks. Members of the Central Florida Tourism Oversight District's board of supervisors pushed through the landmark deal on Wednesday evening during a meeting at its Lake Buena Vista headquarters. "This agreement is a big win for central Florida and will lead to numerous jobs and improved guest experiences." It will also permit Disney to build a fifth major theme park and two minor theme parks — something Disney fans have fantasized about for years. The development deal also authorizes Disney to add more rooms to its Central Florida hotel and expand its retail and restaurant space.

Persons: —, Ron DeSantis, Joe Burbank, Brian Aungst, Charbel Barakat, DeSantis, Bryan Griffin, Disney hasn't, George Miliotes Organizations: Service, Disney, Central, Central Florida Tourism, Business, Florida Gov, Orlando Sentinel, Tribune, Getty, Walt Disney, Communications, Wine Bar Locations: Central Florida, Buena Vista, Disney, Florida, Disney Springs

☆ Tyson CFO and chicken family scion John Tyson arrested for DWI
▼ + stars: | 2024-06-13 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +1 min

New York CNN —Tyson Foods suspended its CFO John R. Tyson after he was arrested Thursday on charges of DWI and careless driving. Tyson, the great grandson of the founder of the meat processing company, was previously arrested in 2022 on charges of public intoxication and criminal trespass. The 34-year-old was booked early Thursday and has since been released, according to the Washington County, Arkansas, Detention Intake Report. “We are aware that John Randal Tyson, Chief Financial Officer of Tyson Foods, was arrested for an alleged DWI,” the company said in a statement Thursday. “Tyson Foods has suspended Mr. Tyson from his duties effective immediately and named Curt Calaway as interim Chief Financial Officer.”Back in 2022, Tyson was charged after he allegedly wandered into the wrong home and fell asleep.

Persons: New York CNN — Tyson, John R, Tyson, “, John Randal Tyson, “ Tyson, Curt Calaway, “ I’m, ”, Donnie King, —, Rebekah Riess, Parija Kavilanz Organizations: New, New York CNN, New York CNN — Tyson Foods, Tyson Foods, “ Tyson Foods Locations: New York, Washington County , Arkansas

“Hamas could have answered with a single word – yes,” he said. “It’s time for the haggling to stop and a ceasefire to start. Hamas submitted its reply to the multi-phased ceasefire and hostage release proposal to mediators on Tuesday. According to a senior State Department official, Blinken, who was in Amman at the time, dispatched two of the senior staff traveling with him to retrieve Hamas’ response from Egyptian Intelligence Chief Abbas Kamel, who was also in the Jordanian capital. Izzat al-Rishq, a member of the Hamas political bureau, described their response as “responsible, serious and positive.”CNN’s Becky Anderson, Hamdi Alkhshali and Benjamin Brown contributed to this report.

Persons: Antony Blinken, ” Blinken, ”, “ Israel, Benjamin Netanyahu, “, Jake Sullivan, ’, Israel, Blinken, Abbas Kamel, ” CNN’s Becky Anderson, Hamdi Alkhshali, Benjamin Brown Organizations: CNN, US National, UN, State Department, Egyptian Locations: Gaza, Doha, Israel, ”, Egypt, Jordan, Qatar, Amman, Jordanian, Izzat

☆ 66% of Americans give companies a failing grade for CEO pay
▼ + stars: | 2024-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Americans are fed up with massive CEO pay packages. Just 13% say companies are doing a good or excellent job at avoiding a major pay gap between CEOs and average employees. For the third year in a row, the vast majority – 66% — say companies are doing a “poor” job here. Politically, the majority of Democrats (96%), independents (83%) and Republicans (67%) agree that it’s important to avoid major pay gaps. The findings show how the issue of CEO pay strikes a chord among many Americans, some of whom are struggling to make ends meet in an increasingly expensive world.

Persons: Gallup, ”, Nell Minow, Elon Musk, Tesla, “, Cynthia Clark, Bernie Sanders, Elizabeth Warren, “ It’s, Bill George, Medtronic, Hock Tan, William Lansing, George, Dave Calhoun, Dodd, Frank, Clark, ” Minow, Minow Organizations: New, New York CNN, Bentley University, Gallup, CNN, ValueEdge Advisors, Associated Press, “, Democrats, Sens, Broadcom, Harvard Business School, Boeing, Congress Locations: New York, ”

☆ 6 sports-betting execs break down the biggest challenges facing the industry and how they're trying to solve them
▼ + stars: | 2024-06-11 | by ( Tiara White | Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLegal sports betting is becoming more mainstream in the US, and regulators and leagues are starting to scrutinize it more closely. The industry's evolution is creating new challenges in areas like player protection, responsible gaming, and product innovation. "They're really trying to squeeze out as much profit and as much margin as they can, and it's starting to feel that way," Doctor told BI, describing what he considers one of the biggest challenges facing the industry. "When it comes to responsible gaming and responsible betting," she said.

Persons: —, Tucupita Marcano, sportsbooks, Zach Doctor, They're, Joe Maloney, Ashley Cahill, Dave Foppert, DraftKings, Foppert, Christiana Yebra, Max, Yebra, we'll, Mark Nerenberg Organizations: Service, San Diego Padres, Major League Baseball, Business, PNC Bank VP, American Gaming Association, Sports, Netflix

☆ Another Tesla shareholder came out against Elon Musk's multibillion-dollar pay package, saying the billionaire should 'focus on going to Mars'
▼ + stars: | 2024-06-11 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Read previewAnother major Tesla shareholder is publicly opposing Elon Musk's multibillion-dollar pay package just days before investors are set to vote on the enormous figure ahead of the automaker's annual shareholder meeting on Thursday. AdvertisementDespite Musk's other endeavors, Tesla remains a car company — and the automaker's output and stock valuation should reflect that, Ailman said. He designed the cars," Ailman told the outlet. Proxy advisors are recommending investors vote no on the pay package, advice which Tesla's passive investors — about 20% of investors in total — are likely to follow, Bernstein analyst Toni Sacconaghi told BI. "He wants to go to Mars," Ailman told CNBC.

Persons: —, Elon Musk's, Christopher Ailman, Ailman, Tesla, Bernstein, Toni Sacconaghi, CalSTRS, Musk, Let's Organizations: Service, California State Teachers, CNBC, Business, Golden State, Tesla, Nvidia Locations: Delaware, California, Golden

☆ How to Save Tech Industry: Fire Managers, Put Tech People in Charge
▼ + stars: | 2024-06-11 | by ( Ed Zitron | ) www.businessinsider.com time to read: +11 min

This disastrous mindset has hollowed out Silicon Valley's ability to innovate and caused regular people to grow increasingly frustrated with everyday tech. The large platforms have generally ignored this feedback for one big reason: The tech industry has been taken over by career managers. Now Google Search is more profitable and worse, elevating spammy content and outright scams, a problem exacerbated by artificial intelligence. AdvertisementBut today's tech products feel built to sell a dream of the future rather than solve a customer's existing pains. As long as the tech industry is controlled by people who don't build things, it will continue to build products that help raise growth metrics rather than help consumers with tangible problems.

Persons: scammers hawking, Meta's, Hewlett Packard, Kevin Systrom, Mike Krieger, Adam Mosseri, Systrom, Krieger, Mosseri, Mark Zuckerberg, Instagram, Kylie Jenner, Kim Kardashian, Sundar Pichai, Prabhakar Raghavan, Raghavan, Ben Gomes, Gomes, it's, Sam Altman, Helen Toner, Ilya Sutskever, Larry Summers, Fidji Simo, Meta —, —, Steve Jobs, Steve Wozniak Organizations: Facebook, Google, Microsoft, Amazon, Oracle, Adobe, Meta, Builders, Apple, Xerox, HP, Department, Reuters Institute, Oxford University, Silicon Valley Locations: Silicon, Silicon Valley

☆ OpenAI hires new CFO and product chief, announces Apple deal to integrate ChatGPT
▼ + stars: | 2024-06-10 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

OpenAI on Monday hired two top executives and announced a partnership with Apple that includes a ChatGPT-Siri integration, the company announced in two blog posts. The company said Sarah Friar, previously CEO of Nextdoor and finance chief at Square, is joining as chief financial officer. OpenAI also hired Kevin Weil, an ex-president at Planet Labs , as its new chief product officer, according to the blog post. Weil's product team will be focused on "applying our research to products and services that benefit consumers, developers, and businesses," the company wrote. "Siri can also tap into ChatGPT's intelligence when helpful," OpenAI wrote.

Persons: OpenAI, Siri, Sarah Friar, Friar, Kevin Weil, Weill Organizations: Apple, Stanford Digital Economy, Planet Labs, Twitter, Facebook, Monday Locations: ChatGPT

☆ Israel thrust between far-right support and Gaza cease-fire, as Netanyahu rival quits war cabinet
▼ + stars: | 2024-06-10 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +6 min

Amir Levy | Getty Images News | Getty ImagesIsrael's war cabinet minister Benny Gantz resigned from the emergency government, dealing a decisive blow which is expected to entrench Prime Minister Benjamin Netanyahu deeper into a far-right support base that opposes a cease-fire in Gaza. A former chief of staff of the Israeli Defense Forces, centrist Gantz co-founded and led the National Unity party that joined Netanyahu's emergency government after the outbreak of the Gaza war. Israeli prime minister Benjamin Netanyahu and Cabinet minister Benny Gantz during a press conference in the Kirya military base in Tel Aviv , Israel , 28 October 2023. And the prime minister himself. Around 1,200 people were killed in Israel, Israeli official figures say, since the start of the Gaza conflict.

Persons: Benny Gantz, Amir Levy, Benjamin Netanyahu, Gantz, Netanyahu, Regrettably, Yoav, Gallant, entreat Gantz, Yair Lapid, Gadi Eisenkot, Lapid, Eran Etzion, Etzion, Jack Guez, Nimrod Goren, Goren, Itamar Ben Organizations: Getty, entrench, Israeli Defense Forces, National Unity, Gaza, Palestinian, Hamas, Reuters, Defense, Criminal, Gaza's Ministry of Health, Israel's National Security Council, CNBC, Ultra, Sheba Tel, HaShomer Medical Centre, Afp, Middle East Institute, U.S, Jewish Power Party Locations: Gaza, Tel Aviv, Israel, Rafah, Sheba, Ramat Gan, of Israel

☆ Barclays bank branches vandalized by pro-Palestinian, climate activists
▼ + stars: | 2024-06-10 | by ( Catherine Nicholls | Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Around 20 branches of Barclays have been vandalized by pro-Palestinian and climate activists who said they were protesting against the UK bank’s business dealings in Israel and its funding of polluting industries. “Frustration with Barclays’ limited progress towards stopping their genocidal and climate-destructive financing has helped spawn this new radical flank of activism,” Palestine Action said. “Shut the System and Palestine Action have taken radical direct action in frustration with Barclays’ paltry progress on changing their climate destroying and genocidal financing,” one post read. A number of pro-Palestinian groups have called for protests against Barclays, alleging that the bank invests billions of dollars in companies linked to Israel’s military. “The defense sector is fundamental to our national security and the UK government has been clear that supporting defense companies is compatible with (Environmental, Social and Governance) considerations.

Persons: “, Barclays “, ”, Guy Smallman, embargos Organizations: London CNN —, Barclays, CNN, BCS, Palestine Solidarity Campaign, Trade, NATO, Social, City of London Police Locations: Israel, London, Palestine, Edinburgh, Gaza, Croydon, City

☆ Iran OKs 6 candidates for presidential race, but again blocks Ahmadinejad
▼ + stars: | 2024-06-09 | by ( ) www.cnbc.com time to read: +5 min

He withdrew from the 2017 presidential campaign to support Raisi in his first failed presidential bid. Raisi won the 2021 election, which had the lowest turnout ever for a presidential vote in Iran, after every major opponent found themselves disqualified. Amirhossein Ghazizadeh Hashemi, Raisi's vice president, ran in the 2021 presidential elections and came in last with just under 1 million votes. Raisi, Iranian Foreign Minister Hossein Amirabdollahian and others were killed in the May 19 helicopter crash in the far northwest of Iran. Raisi was the second Iranian president to die in office.

Persons: Ebrahim Raisi, Hossein Amirabdollahian, Mahmoud Ahmadinejad, Ayatollah Ali Khamenei, Khamenei, Mohammad Bagher Qalibaf, Qalibaf, Raisi, Mahsa, Saeed Jalili, Alireza Zakani, Mostafa Pourmohammadi, Amirhossein Ghazizadeh Hashemi, Masoud Pezeshkian, Ahmadinejad, Ali Larijani, Hassan Rouhani, Larinjani, Abdolnasser Hemmati, Eshaq Jahangiri, Mohammad Ali Rajai Organizations: Iran's, firebrand, Raisi, Guardian Council, U.S, paramilitary Revolutionary Guard, Guard, Guardian, Former Iranian Central Bank, Iranian Locations: Qom, Iran, Israel, Tehran, Raisi, Russia, Ukraine, Red, Gaza

☆ Analysis: Why the departure of Israeli war cabinet member Benny Gantz does – and doesn’t – matter
▼ + stars: | 2024-06-09 | by ( Elliott Gotkine | ) edition.cnn.com time to read: +3 min

Benny Gantz is back where he was at the start of the war Hamas launched on October 7: an ex-defence minister, ex chief of staff – and Prime Minister Benjamin (Bibi) Netanyahu’s chief political rival. Perhaps the most important impact of Gantz’s departure is the one it won’t have: it won’t cause the government to collapse. “Benny Gantz is in a fix,” former Middle East negotiator Aaron David Miller told CNN on Sunday before Gantz’s resignation. Nor for that matter is the third member of the war cabinet, Defence Minister Yoav Gallant. With Gantz gone, that seems less likely – as does the likelihood of a hostage deal being consummated any time soon.

Persons: Benny Gantz, Benjamin, Bibi, Netanyahu didn’t, he’d, ” Gantz, “ Netanyahu, “ Benny Gantz, Aaron David Miller, Gantz’s, “, ” That’s, Netanyahu, Joe Biden’s –, Israel’s, Gantz, Miller, Deir, Abed Rahim Khatib, Yoav Gallant, Gallant, Gantz wouldn’t Organizations: CNN, Hamas, “, Anadolu, Getty Locations: Gaza, Israel, East

OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. The Federal Trade Commission and the Justice Department are set to open antitrust investigations into Microsoft , OpenAI and Nvidia , examining the powerful companies' influence on the artificial intelligence industry, a source familiar confirmed to CNBC. The FTC will take the lead on looking into Microsoft and OpenAI, while the DOJ will focus on Nvidia, and the investigations will focus on the companies' conduct, rather than mergers and acquisitions, according to the source. The news also follows the FTC's January decision to conduct an extensive study on AI industry heavyweights, including Amazon , Alphabet , Microsoft, Anthropic and OpenAI. Microsoft and OpenAI did not immediately respond to requests for comment.

Persons: Sam Altman, Kevin Scott, Anthropic, Claude chatbots, that's, Lina Khan, Khan, OpenAI, — CNBC's Eamon Javers Organizations: Microsoft Chief Technology, Artificial, Microsoft, Federal Trade Commission, Justice Department, Nvidia, CNBC, FTC, DOJ, New York Times, Google, Meta Locations: Redmond , Washington

☆ Opinion | Will A.I. Be a Creator or a Destroyer of Worlds?
▼ + stars: | 2024-06-05 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +4 min

— artificial intelligence — is spurring curiosity and fear. paper, Acemoglu contended that artificial intelligence has the potential to improve employment prospects rather than undermine them:It is quite possible to leverage generative A.I. as an informational tool that enables various different types of workers to get better at their jobs and perform more complex tasks. Think of a generative A.I. To turn generative A.I.

Persons: Will A.I, Daron Acemoglu, David Autor, Simon Johnson, Johnson, Acemoglu, ” Acemoglu, — Tyna Eloundou, Pamela Mishkin, Sam Manning, Daniel Rock Organizations: Machines, of, World Trade Association, A.I, OpenAI, Centre, University of Pennsylvania, Labor Locations: M.I.T, United States, Autor, China, A.I

☆ Elliott builds $2 billion position in SoftBank, pushes for buyback
▼ + stars: | 2024-06-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Investment firm Elliott Management has rebuilt its position in Japanese conglomerate SoftBank and is pushing the Masayoshi Son-led firm to begin a $15 billion share buyback, according to a person familiar with the matter. The news, first reported by the Financial Times, sent SoftBank shares up as much as 6.3%. SoftBank shares have surged in recent months largely off the back of its Arm investment. SoftBank's Japanese shares trade at their highest level in decades. SoftBank launched a $20 billion share buyback and asset disposal program in 2020 during Elliott's initial campaign.

Persons: Son, Elliott, SoftBank, Elliot, Nabeel Bhanji, unfriendliness, WeWork Organizations: SoftBank Group Corp, University of Tokyo, Investment, Elliott Management, Financial Times, Tokyo Stock Exchange, Mitsubishi Fudosan, Toshiba, Dai Nippon Printing, Vision Locations: Tokyo, Japan, SoftBank, China

☆ Space elevators could get us to Mars in record time — and Japan is planning one for 2050
▼ + stars: | 2024-06-05 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +8 min

The concept of space elevators isn't new, but engineering such a structure would be no easy feat, and many other issues besides technology stand in the way. Japan aims to build a space elevator by 2050Japan's Skytree Tower is tall, but it's nowhere near as big as a space elevator. AdvertisementAccording to some designs, space elevators would shuttle cargo to orbit on electromagnetic vehicles called climbers. Other estimates for space elevators in general have put the price at $227 per pound. For instance, a space elevator's tether would be under such incredible tension that it would be prone to snapping, Johnson said.

Persons: —, Yoji Ishikawa, Ishikawa, Christian Johnson, Johnson, Garlic, There's, Victor Habbick, Obayashi, haven't Organizations: Service, Business, Obayashi Corporation, Kyodo, Science, Getty, NASA, Obayashi Locations: Japan, Tokyo, Earth

☆ Texas is coming for Wall Street with a new BlackRock-backed stock exchange
▼ + stars: | 2024-06-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Texas’ famous longhorns are coming for Wall Street’s bulls. A new national stock exchange, based in Dallas, and backed by Wall Street heavyweights like BlackRock and Citadel, is looking to take on the world-famous New York Stock Exchange and Nasdaq. The newly formed TXSE Group announced its plans to file for registration with the US Securities and Exchange Commission later this year. “We’re thrilled to bring to fruition the long-held vision for a national stock exchange in Texas,” TXSE Group founder and CEO James Lee said in a statement on Wednesday. The problem with going publicAmerica has lost half its public companies since the 1990s.

Persons: Wall, “ We’re, James Lee, Lee, Wells, ”, Jamie Dimon, JPMorgan Chase, “, “ TXSE’s, TXSE Organizations: New, New York CNN — Texas ’, longhorns, Wall Street, BlackRock, Citadel, New York Stock Exchange, Nasdaq, TXSE Group, US Securities and Exchange Commission, SEC, TXSE, Wall Street Journal, Center for Research, “ Companies, JPMorgan Locations: New York, Dallas, Texas, “ Texas, America, Wells Fargo, ”, New York City, Philadelphia, Miami, United States

☆ SoftBank shares jump up to 6.3% on report that Elliott Management's pushing for $15 billion in buybacks
▼ + stars: | 2024-06-05 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

SoftBank Group Corp. is scheduled to announce its earnings figures on May 13. Elliott is lobbying for $15 billion worth of share buybacks, arguing that the buybacks will boost SoftBank's share price and "act as a sign of Son's confidence in his strategy," the Financial Times reported. SoftBank shares hit a high of 9,572 yen on Wednesday, 6.32% higher than its Tuesday closing price, according to LSEG data. Elliott had invested $2.5 billion in SoftBank in 2020 and sought share buybacks worth $20 billion along with governance changes, Financial Times reported that year. SoftBank Group declined to comment.

Persons: Toru Hanai, Elliott, SoftBank, Elliott's, Masayoshi Son Organizations: SoftBank Corp, SoftBank Group Corp, Bloomberg, Getty, SoftBank, Elliott Management, Financial Times, U.S Locations: Tokyo, Japan, SoftBank

☆ New Stock Exchange in Texas Takes Aim at N.Y.S.E. and Nasdaq
▼ + stars: | 2024-06-05 | by ( Joe Rennison | More About Joe Rennison | ) www.nytimes.com time to read: +1 min

A start-up stock exchange headquartered in Dallas and backed by the financial powerhouses BlackRock and Citadel Securities is set to challenge the dominance of the New York Stock Exchange and Nasdaq in the listing and trading of companies and funds. The Texas Stock Exchange, or TXSE, has raised roughly $120 million from more than two dozen investors, including BlackRock and Citadel Securities as well as some unnamed business leaders, according to a statement on Wednesday. The exchange has yet to register with the Securities and Exchange Commission, which will be its primary regulator, but intends to do so later this year. It cannot begin operating without the S.E.C.’s approval. The announcement of the exchange was first reported by The Wall Street Journal.

Persons: ’ Organizations: BlackRock, Citadel Securities, New York Stock Exchange, Nasdaq, Texas Stock Exchange, Securities and Exchange Commission, Wall Street Locations: Dallas, BlackRock

☆ Analysis: Voters reject Modi’s vision for one-party state in India’s 2024 election
▼ + stars: | 2024-06-05 | by ( Rhea Mogul | ) edition.cnn.com time to read: +7 min

According to most polls, India’s election was a foregone conclusion. Prime Minister Narendra Modi’s right-wing, Hindu-nationalist alliance was expected to secure a supermajority – and with it the power to enact radical change unopposed. To Modi’s critics and opponents, India was on the fast track to becoming a de-facto one-party state. Going into this election, Modi had set a goal of winning 400 seats in the lower house of parliament, or Lok Sabha. The BJP’s inability to secure an outright majority “pricks the bubble of Modi’s authority,” wrote political scientist Pratap Bhanu Mehta Tuesday night.

Persons: Narendra Modi’s, Modi, Bharatiya Janata Party wouldn’t, God, ”, Pratap Bhanu Mehta, “, Jawaharlal Nehru, Ritesh Shukla, Arathi Jerath, India’s, Arvind Kejriwal, Critics, –, ” Mehta, Sanjay Singh, “ Modi, Neelanjan Sircar Organizations: CNN, Bharatiya Janata Party, …, BJP, Aadmi Party, ‘, National Democratic Alliance, Center for Policy Research Locations: India, Lok Sabha, –, Ayodhya, New Delhi, Delhi

☆ Jacob Zuma has made a dramatic comeback in South Africa’s elections. Will he have the last laugh over Ramaphosa?
▼ + stars: | 2024-06-05 | by ( Sarah Dean | David Mckenzie | ) edition.cnn.com time to read: +10 min

Johannesburg, South Africa CNN —South Africa’s African National Congress (ANC) party faces a mammoth challenge as it needs to form a government with its political rivals after suffering a seismic blow in last week’s election. However, both parties believe in the primacy of South Africa’s constitution and both have promised to crack down on corruption. If the ANC decides to pursue coalition talks with MK, then Zuma will want Ramaphosa out, solidifying his revenge. However, if South Africa’s president maintains his grip on the ANC, a coalition with MK is unlikely. South Africa’s business community and middle class are broadly nervous about an EFF–ANC coalition and its effect on investor confidence.

Persons: Mahlengi, Motsiri, Jacob Zuma, Zuma, Cyril Ramaphosa –, –, ”, Tessa Dooms, ” Dooms, Ramaphosa, Gupta, Ramaphosa’s, Fikile Mbalula, “, John Steenhuisen, Steenhuisen, TK Pooe, Paul Mashatile, Zuma “ unapologetically, Melanie Verwoerd, Verwoerd, Julius Malema, Malema, Floyd Shivambu, Mandela, Klerk, Thabo Mbeki Organizations: South Africa CNN, National Congress, ANC, South, MK, who’ve, CNN, Sunday, Democratic Alliance, White South, DA, EFF, Fighters, Wits School, Governance, Empowerment, ANC’s, National Health Insurance, Freedom Party, IFP, Reserve Bank, Finance, GNU, FW Locations: Johannesburg, South Africa, Africa, Zulu

☆ It's all unraveling at OpenAI (again)
▼ + stars: | 2024-06-04 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

In a statement to Business Insider, an OpenAI spokesperson reiterated the company's commitment to safety, highlighting an "anonymous integrity hotline" for employees to voice their concerns and the company's safety and security committee. Safety second (or third)A common theme of the complaints is that, at OpenAI, safety isn't first — growth and profits are. (In a responding op-ed, current OpenAI board members Bret Taylor and Larry Summers defended Altman and the company's safety standards.) "I have been disagreeing with OpenAI leadership about the company's core priorities for quite some time, until we finally reached a breaking point." (Altman and OpenAI said he recused himself from these deals.)

Persons: —, Sam Altman, Daniel Kokotajlo, OpenAI, Altman, Helen Toner, Tasha McCauley, Toner, McCauley, Bret Taylor, Larry Summers, Kokotajlo, Jan Leike, Ilya Sutskever, Leike, Stuart Russell, NDAs, Scarlett Johansson, lawyered, Johansson, " Johansson, I've, Sam Altman — Organizations: Service, New York Times, Business, Times, Twitter, Microsoft, The New York Times, BI, Street, OpenAI, OpenAI's, Apple Locations: OpenAI, Russian, Reddit

☆ Current and former OpenAI employees warn of AI's 'serious risks' and lack of oversight
▼ + stars: | 2024-06-04 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

A group of current and former OpenAI employees published an open letter Tuesday describing concerns about the artificial intelligence industry's rapid advancement despite a lack of oversight and an absence of whistleblower protections for those who wish to speak up. "AI companies have strong financial incentives to avoid effective oversight, and we do not believe bespoke structures of corporate governance are sufficient to change this," the employees wrote. The letter also details the current and former employees' concerns about insufficient whistleblower protections for the AI industry, saying that without effective government oversight, employees are in a relatively unique position to hold companies accountable. "Ordinary whistleblower protections are insufficient because they focus on illegal activity, whereas many of the risks we are concerned about are not yet regulated." Four anonymous OpenAI employees and seven former ones, including Daniel Kokotajlo, Jacob Hilton, William Saunders, Carroll Wainwright and Daniel Ziegler, signed the letter.

Persons: OpenAI, they've, Daniel Kokotajlo, Jacob Hilton, William Saunders, Carroll Wainwright, Daniel Ziegler, Ramana Kumar, Neel Nanda, Geoffrey Hinton, Yoshua Bengio, Stuart Russell Organizations: Google, Microsoft, Meta, CNBC, Security Locations: Anthropic

☆ The scary secret behind the boom in data centers
▼ + stars: | 2024-06-04 | by ( Adam Rogers | ) www.businessinsider.com time to read: +10 min

Last year all the data centers in the world had room for 10.1 zettabytes of information — roughly 456 billion Wikipedias. And with the rise of artificial intelligence, which requires vast quantities of data and power, the global capacity of data centers is expected to double by 2027. Data centers are more than just vast digital warehouses. The more data centers those companies have, the more of those services they can offer, and the more storage and number-crunching capacity they can provide. Over time, economists warn, AI startups will inevitably lose out to the tech giants that control the data centers.

Persons: they're, Cecilia Rikap, Matthew Wansley, Jonas Jacobi, Jacobi, It's, Rikap, Bengt, Åke, There's, Lina Khan, Today's, Adam Rogers Organizations: Google, Microsoft, Amazon Web Services, Big Tech, Corporate, Regulators, Yeshiva University, Amazon, Venture, Aalborg University, Tech, Google Cloud, Federal Trade Commission, Business Locations: OpenAI, Hotel California, Denmark, Europe, lockstep

India's Prime Minister Narendra Modi flashes victory sign at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Completed vote counts by the Election Commission of India showed that Modi's BJP won just 240 seats. India's Parliament has 543 seats, and the party or coalition that wins at least 272 forms the government. Modi's decade-long ruleUnder Modi, India, home to 1.4 billion people, has witnessed robust economic growth. While India has seen robust economic growth under Modi, observers and critics have warned about the country's "democratic decline."

Persons: Narendra Modi, Money Sharma, Modi, Aiyar, CNBC's, Shilan Shah, Shah, Kranthi, Sensex, Samir Kapadia, that's, Malcolm Dorson Organizations: India's, Bharatiya Janata Party, BJP, Afp, Getty, Indian, Modi's BJP, National Democratic Alliance, Developmental Inclusive Alliance, Indian National Congress, Policy Research, Centre, Monitoring, Capital Economics, BSE, WealthMills Securities, Adani, Adani Enterprises, State Bank of India, ICICI Bank, Monetary Fund, India Index, Vogel, Dem, Global, Vogel Group, IMF Locations: New Delhi, India, INDIA, China, Sweden

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