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☆ Megabus, Coach USA Bankruptcy: Wall Street Wrecked Discount Bus Option
▼ + stars: | 2024-09-11 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Stagecoach Group, a UK-based travel company, first launched Megabus in the UK in 2003 and then brought it to the US in 2006. Along with Greyhound, Megabus became one of the two mega-carriers in the United States. The intercity bus industry is not in complete disarray, but things are not going great there. Bus industry insiders also note that they're often treated as an afterthought by policymakers even though they carry tens of millions of people each year. He emphasized that bus travel can be environmentally sustainable, too, compared to everyone driving their own cars or flying.

Persons: Megabus, Andrew Savikas, Peter Pan, John Stepovy, FlixBus, Joseph Schwieterman, Schwieterman, hadn't, Scott Michael, it's, Michael, Kai Boysan, BoltBus, Fred Ferguson, who's, Ferguson, It's, They've, They're, I'd, Wanderu, Stepovy, Emily Stewart Organizations: Coach USA, Equity, USA, Stagecoach Group, Greyhound, North America, DePaul University, Stagecoach, Fullington Trailways, US, United Motorcoach Association, FlixMobility, Flix, American Bus Association, Lake Holdings, Alden Global Capital, Atlantic City, Day, Labor, Business Locations: Los Angeles, Chinatown, Busbud, United States, Asia, Flix North America, Wanderu, Philadelphia, Dallas, Chicago, Cleveland, Boston, New York, FlixBus

☆ Visiting China in 2024: A guide to visas, mobile payments and more
▼ + stars: | 2024-09-10 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +20 min

We’ve put together a guide to some of the most frequently asked questions regarding China travel. China travel FAQsDo you need a visa to go to China? However, travelers visiting under these visa-free transit programs have more restrictions in terms of places they can visit. Exploring the country via China’s vast high-speed railway network is not an option for those entering under the two transit visa schemes. Beijing, China's capital city, accepts international travelers visiting under the 144-hour visa-free transit program.

Persons: it’s, ”, Denny Tian, Gabriela Correia, Correia, Tian, Greg Baker, Correira, ” Gabriela Correia, David Tucker, We’ve, John Seaton Callahan, China ’, Kevin Frayer, –, ” Correira, you’ve, Didi, Uber, Yan Cong, China’s Organizations: CNN, Immigration Administration, China, Google, Getty, “, Service, Shanghai Hongqiao, Hong Kong, Hong, Hong Kong Immigration, Travelers, Facebook, ”, Publishing, United, US, Baidu, Apple, China Railway, Bloomberg Locations: China, Beijing, Portugal, Shanghai, AFP, “, Hunan, Singapore, Thailand, Austria, Australia, Belgium, France, Germany, Hungary, Ireland, Italy, Luxembourg, Malaysia, Netherlands, New Zealand, Poland, Spain, Switzerland, New York, Japan, South Korea, United Kingdom, United States, Hong Kong, Macau, Jiangsu, Zhejiang, Asia, Tibet, Tibet Autonomous Region, Hainan, China's, Hawaii, ”, Canada

☆ Apple upgrades will be meaningful but not super cycle, says AT&T CEO John Stankey
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple upgrades will be meaningful but not super cycle, says AT&T CEO John StankeyJohn Stankey, AT&T CEO, joins CNBC's 'Squawk on the Street' to discuss Apple's upgrade cycle, what the cycle means for AT&T, and more.

Persons: John Stankey John Stankey

☆ Apple relies on carriers to drive iPhone sales. What to expect this upgrade cycle
▼ + stars: | 2024-09-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Among the offers at AT & T for new and existing customers: a free iPhone 16 or up to $830 off the iPhone 16 Plus if they meet a few eligibility requirements. Apple's list price for the Phone 16 and iPhone 16 Plus start at $799 and $899, respectively. Now consider that despite inflation, Apple left the prices of iPhone 16 models the same as the prior generation while adding AI capabilities and improved battery life, among others. "All of these things will be incremental, just enough to eventually convince millions" to upgrade their devices, Jim said. Apple CEO Tim Cook delivers remarks before the start of an Apple event at Apple headquarters on September 09, 2024 in Cupertino, California.

Persons: –, Max, Jim Cramer, Tim Cook, Cook, Bernstein, John Stankey, Stankey, aren't, Jim, Jeff Marks, Jim Cramer's, Justin Sullivan Organizations: Verizon, Mobile, Apple, Consumer Intelligence Research Partners, UBS, CNBC, Club, Markets, Apple Intelligence, Barclays Locations: U.S, China, Europe, Cupertino , California

☆ Analysis: Is Kamala Harris a good debater? Here’s what we know
▼ + stars: | 2024-09-09 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

Unlike with Biden, Harris won’t have to go back to the 1970s to come up with lines of attack. One speaker at a timeWhile Harris will have plenty to say about Trump, she won’t have the benefit of his interruptions. Prep can fall flatNot all of Harris’ planned takedowns work quite as well as the busing attack on Biden. In another 2019 debate, Harris targeted Sen. Elizabeth Warren on the subject of Warren’s plan to break up tech companies. Lines of attack against HarrisWhich brings us to a third telling Harris debate exchange from 2019.

Persons: Donald Trump, Kamala Harris, – Harris, Harris eviscerated Joe Biden, ” Harris, Biden, Strom Thurmond, John Stennis, “, Harris, unsparing, Trump Harris, Trump, Harris won’t, won’t, ’, Hillary Clinton, Mike Pence, “ Mr, Harris ’, Sen, Elizabeth Warren, Warren, Elon Musk, ” Warren, Tulsi Gabbard, Gabbard, – Organizations: CNN, Democratic, ABC News, Trump, Twitter, Capitol, Elon, White, Rep, Democratic Party, New York Times, Siena Locations: Sens, South Carolina, John Stennis of Mississippi, California, Pennsylvania, Pittsburgh, Harris, Trump, New York

☆ The US Navy sacked a destroyer captain after a persistent steering problem led to a Middle East near-miss
▼ + stars: | 2024-09-06 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

Read previewThe US Navy sacked the captain of a deployed warship after an unresolved steering problem resulted in a near-miss incident in the Middle East, according to a command investigation reviewed by Business Insider. But the command investigation said Yaste was relieved after the McCain lost steering during a July fuel replenishment that damaged a Navy oiler. The troubled destroyer remained at sea, and the command investigation said there was no evidence any notable troubleshooting efforts occurred after July 9. The August command investigation found that McCain crewmembers made a variety of mistakes, including failing to follow loss-of-steering procedures or communicating sufficiently between controlling stations. AdvertisementThe Navy has not publicly disclosed what happened with the McCain or acknowledged the steering issues during the deployment.

Persons: —, Theodore Roosevelt Carrier, Cmdr, Cameron Yaste, Arleigh Burke, John S, McCain, Yaste, it's, Ryo Isobe, Declan Barnes, It's, Horn, Kevin Tang Organizations: Service, US Navy, Business, Theodore Roosevelt Carrier Strike Group, Navy, McCain, BI, Iranian, US, Engineers, Big, United Arab Locations: Bahrain, Big, Big Horn, United Arab Emirates

☆ Trump's lawyers say an accuser's sexual-assault testimony should have been tossed because the incident was aboard an airplane
▼ + stars: | 2024-09-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Leeds' allegations weren't part of Carroll's accusations, but the trial judge allowed her testimony because they demonstrated what Carroll's lawyers argued was a pattern of behavior by Trump. "It's very hard to overturn a jury verdict for evidentiary grounds," he said. Sauer argued that Trump's case was "a textbook example" of a case wrongly propped up by propensity evidence rather than Trump's actual conduct. LEONARDO MUNOZ/AFP via Getty ImagesShe also jabbed at Habba's earlier claims that she might have some kind of conflict of interest with the trial judge, US District Judge Lewis Kaplan. Presidential immunity played a role in earlier court fights in the Carroll case.

Persons: —, Donald Trump, Jean Carroll, John Sauer, Jessica Leeds, Trump, Sauer, Denny Chin, Roberta Kaplan, Leeds, defaming Carroll, Alina Habba, Kaplan, Carroll, Todd Blanche, Emil Bove, Boris Epshteyn, Joshua Katz, CHARLY TRIBALLEAU, Getty Images Carroll, Bergdorf Goodman, Blanche, Bove —, Harvey Weinstein's, Susan Carney mused, Marci Hamilton, LEONARDO MUNOZ, Lewis Kaplan, Kamala Harris, Bove, Juan Merchan, she'd Organizations: Service, Republican, Business, Leeds, Circuit, Trump, Getty Images, US, University of Pennsylvania, Getty, Democratic Locations: Manhattan, Leeds, AFP, New York, Washington, DC, New, United States

☆ Massachusetts driver who repeatedly hit an Asian American man gets 18 months in prison
▼ + stars: | 2024-09-05 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

BOSTON — A Massachusetts man has been sentenced to 18 months in prison for threatening to kill a group of Asian Americans and repeatedly hitting one of them with his car. “This defendant targeted this man solely because he was Asian American. He yelled “go back to China” and threatened to kill them before repeatedly hitting one of them, a Vietnamese man, with his car. There had been a dramatic spike in verbal, physical and online attacks against Asian Americans and Pacific Islanders since the start of the coronavirus pandemic, which was thought to have originated in China. “There are bad people who do bad things and good people that do a bad thing,” the attorney wrote in the sentencing memorandum.

Persons: John Sullivan, Kristen Clarke, ”, Sullivan, “, China ”, Jodi Cohen, ” Cohen, “ Jack Sullivan, Jack Organizations: BOSTON, Justice Department’s Civil Rights, American, Justice Department, Prosecutors, Asian Americans, Pacific Islanders, FBI, FBI Boston Field Office, NBC Asian Locations: A Massachusetts, Quincy, China, Massachusetts, NBC Asian America

☆ Trump will mimic Harvey Weinstein's successful appeal to fight his own sexual-assault verdict Friday. It won't be as easy.
▼ + stars: | 2024-09-05 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

The judge who oversaw the trial later said: "Trump 'raped' her as many people commonly understand the word 'rape.'" AdvertisementBut the lawyers who won Weinstein's appeal told Business Insider that what worked for their client probably wouldn't work for Trump. In the May 2023 verdict, the jury found Trump liable for sexual abuse and defamation and awarded Carroll $5 million in damages. In the second trial, earlier this year, a separate jury said Trump owed Carroll an additional $83 million in defamation damages. AdvertisementInstead, it needed to find it was "more probable than not" that Trump sexually assaulted Carroll, a standard far more common in civil cases.

Persons: —, Donald Trump, Trump, Jean Carroll, Harvey Weinstein, John Sauer, he'll, Carroll, Sauer, It's, Weinstein, Barry Kamins, Kamins, Marci Hamilton, Goodman, Lewis Kaplan, Jessica Leeds, Natasha Stoynoff, Brittainy Newman, Diane Kiesel, Stoynoff, you've, Kaplan, Roberta Kaplan, Roberta Kaplan's, Jane Rosenberg Trump's, Arthur Aidala, shouldn't Organizations: Service, Business, Appeals, 2nd, Mar, New York state's, Trump, Hollywood, Child USA, New, Leeds, York state's, Stoynoff, New York Law School, REUTERS Locations: Manhattan, Lago, New York, Los Angeles, Brooklyn, Aidala, York, Leeds, Bergdorf's, Carroll, Carroll's, Hamilton

☆ Why 'fake heiress' Anna Sorokin, quietly released from house arrest, can compete in 'Dancing With the Stars' with an ankle monitor
▼ + stars: | 2024-09-04 | by ( Caralynn Matassa | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

On Wednesday, ABC announced that Sorokin — who in 2019 was convicted of conning banks, hotels, and individuals out of money by posing as a European heiress named Anna Delvey — would join the cast of "Dancing With the Stars" season 33. Sorokin finished her prison sentence (which she previously called "a huge waste of time") for her crimes in February 2021. Shortly after she was released from prison, an immigration judge put her under house arrest in New York and banned her from using social media. Related storiesAnna Delvey having to wear an ankle monitor in her #DWTS promo photo is absolute perfection. Advertisement"Dancing With the Stars" season 33 airs September 17 on ABC and Disney+ and streams on Hulu the next day.

Persons: —, Anna Sorokin, Sorokin, Anna Delvey —, Jenn Tran, Tran's, Joey Graziadei, Phaedra Parks, Anna Delvey, Anna, John Sandweg —, Sandweg, She's, Pornhub, Kelly Cutrone Organizations: Service, ABC, Business, Netflix, Customs Enforcement, ICE, Barack, New, Disney, Hulu Locations: European, York, Immigration, United States, New York

☆ A US Navy warship commander was relieved of duty over a 'loss of confidence' 4 months after he was photographed firing a rifle with a backward scope
▼ + stars: | 2024-09-04 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Cameron Yaste was ridiculed when he was photographed firing his rifle with a backward scope. Yaste was relieved of duty on Friday, just four months after the photo was published. The US Navy said Yaste was removed "due to a loss of confidence in his ability." AdvertisementA US Navy warship commander who was ridiculed online for firing a rifle with the scope mounted backward has been relieved of duty, the Navy said Friday. Cameron Yaste was the captain of the USS John S. McCain, a Navy destroyer that has been stationed in the Middle East since April.

Persons: Cameron Yaste, Yaste, —, Cmdr, John S, McCain Organizations: US Navy, Service, Navy, Business

For Disney fans, this summer has been a roller coaster of emotions. The evolution of reactions has largely taken place inside the thriving online community of adult Disney fans, including Disney influencers, journalists and content creators, whom the company has increasingly marketed to as repeat visitors. The new planned attractions at Disney parks around the world were presented with great fanfare. “I feel like I can allow myself to get excited and feel optimistic about the future of the Disney Parks again,” Gustin posted the next day. Magic Kingdom: 1/3 Destroyed,” posted one Disney content creator and former Disney employee.

Persons: ”, Tom Sawyer, Walt, Disney influencers, Scott Gustin, ” Gustin, Gustin, John Stamos, Darren Criss, Ke Huy Quan, Meghan Trainor, Josh D’Amaro, “, Tom Sawyer ”, Mark Twain, Tom Bricker, “ It’s, Jenny Nicholson, America ”, Encanto, Indiana Jones, hasn’t, Deshawn Warr, they’ve, ” Warr Organizations: Disney, Inc, Hollywood Studios, Nexstar, Disney Parks, Magic, “ Pirates Locations: Florida, Rivers, America, Magic Kingdom, Magic, North Carolina, “ Rivers, Animal, Orlando, Caribbean

☆ It’s never been harder to be Mister Softee
▼ + stars: | 2024-08-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Once, there were more than 2,000 Mister Softee trucks in 38 states during the company’s peak in the 1960s. Now, there are only around 630 Mister Softee trucks looping around neighborhoods and parks in 21 states. A Mister Softee truck during a spring training baseball game in Goodyear, Arizona, in 2013. A freshly made cup of Mister Softee ice cream is displayed during a bicycle safety event held in Evesham Township, New Jersey, in 2024. As goes the nation, so goes Mister SofteeThe Mister Softee business is a window into changes in neighborhoods, family sizes and children’s habits.

Persons: New York CNN — It’s, Softee, ” Mike Conway, Mister Softee, Mister, James, William Conway, John Sleezer, ” William Conway, Carlos Vazquez, Alexi Rosenfeld, Vazquez, ”, “, Chris Lachall, Graeme Pitkethly, Conway, They’re, ” Carlos Vazquez Organizations: New, New York CNN, Mister, CNN, Kansas City Star, Tribune, Service, Getty, USA, Unilever, Census Bureau Locations: New York, Runnemede , New Jersey, Philadelphia, United States, Goodyear , Arizona, New York City, Van Leeuwen, Maine, California, Evesham Township , New Jersey, Europe

☆ Danny Jansen to join Red Sox’s lineup at start of suspended game vs. Blue Jays, play for both teams
▼ + stars: | 2024-08-23 | by ( Jen Mccaffrey | Kaitlyn Mcgrath | ) www.nytimes.com time to read: +2 min

The Boston Red Sox and Toronto Blue Jays will resume a June 26 game that was suspended for rain in what will be the first game of a doubleheader on Monday. Back in June, Jansen, then playing for the Blue Jays, was at the plate with one out and one on in the top of the second when the game was suspended. “I don’t even know how this works,” Jansen said when asked about the suspended game after he’d been traded to Boston. The Blue Jays will have some funky developments in the game, too. Though the suspended game will end on Aug. 26, it will be officially recorded as having taken place on June 26 in the record books.

Persons: Danny Jansen, Jansen, Alex Cora, ” Jansen, he’d, “ I’ve, Jayson Stark, John Schneider, Jose Berríos, Yariel Rodríguez, Berríos, Rodríguez, Paul Rutherford Organizations: Major League Baseball, Fenway, Boston Red Sox, Toronto Blue Jays, Blue Jays, Red Sox, Jays, Getty Locations: Boston

☆ 'Not surprised' by what Fed Chair Powell said today, says Oppenheimer's John Stoltzfus
▼ + stars: | 2024-08-23 | 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 Email'Not surprised' by what Fed Chair Powell said today, says Oppenheimer's John StoltzfusJohn Stoltzfus, Oppenheimer Asset Management, joins 'Fast Money' to talk today's Fed speak, the impact of possible cuts on the markets and more.

Persons: Powell, Oppenheimer's John Stoltzfus John Stoltzfus Organizations: Oppenheimer Asset Management

☆ Game of inches: Lobster fishermen say tiny change in legal sizes could disrupt imperiled industry
▼ + stars: | 2024-08-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +6 min

Lobster fishing is a game of inches, and the number of inches is about to change. Fishing regulators are instituting a new rule that lobster fishermen must abide by stricter minimum sizes for crustaceans they harvest. The changes do not apply in Canada, which has an even larger lobster fishing industry than the U.S. Some scientists who study the fishery have supported the minimum size change. But the lobster industry sees a different story, said Patrice McCarron, executive director of the Maine Lobstermen’s Association, the oldest and largest fishing industry association on the East Coast.

Persons: Gerry Cushman, ” Cushman, ”, Caitlin Starks, Robert F, Erica Fuller, ” Fuller, “, Barre Campbell, Geoff Irvine, ” Irvine, John Sackton, Sackton, Richard Wahle, Patrice McCarron, lobsterman, Jared Golden, Golden Organizations: Associated Press, Atlantic States Marine Fisheries Commission, Conservation Law Foundation, Scientists, Atlantic, Fisheries, Oceans, Lobster Council of Canada, University of Maine, Maine Lobstermen’s Association, Democratic Locations: PORTLAND, Maine, New England, Port Clyde, Canada, Head , Maine, of Maine, Gulf of Maine, U.S, Oceans Canada, China, East Coast

☆ Strategist on tech and the risk of a tech bubble
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: 1 min

As tech stocks continue to surge higher, John Stoltzfus of Oppenheimer Asset Management discusses what's driving that run-up, and compares it to rallies in the past.

Persons: John Stoltzfus Organizations: Oppenheimer Asset Management

☆ The US naval presence around the Middle East is getting a firepower boost. Here are the warships already there and what's on the way.
▼ + stars: | 2024-08-13 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Facing this possibility, the Pentagon has deployed a number of military assets to the Middle East this month to defend Israel and US troops in the region. When these forces arrive on station, they will join a wide range of existing naval capabilities in the Middle East and Eastern Mediterranean that were already deployed in response to various conflicts and crises. AdvertisementAdditionally, two destroyers — USS Bulkeley and USS Roosevelt — have been in the area for several weeks. Warships in transitA MH-60S Sea Hawk helicopter flies next to the aircraft carrier USS Abraham Lincoln on August 2. The coming Lincoln strike group consists of the aircraft carrier USS Abraham Lincoln and the destroyers USS Spruance, USS Stockdale, USS Frank E. Petersen, and USS O'Kane.

Persons: —, Israel —, Defense Lloyd Austin, Sydney Milligan, Bulkeley, Roosevelt —, Laboon, Cole, Aden —, Theodore Roosevelt, Theodore Roosevelt Carrier, Dwight D, Michael Murphy, John S, McCain, Daniel Inouye, Russell —, Abraham Lincoln, Daniel Kimmelman, Roosevelt, USS Stockdale, Frank E, Petersen, USS O'Kane, Austin, Pat Ryder Organizations: Service, US Navy, Business, Pentagon, Defense, Sydney, Ready Group, US European Command, 24th Marine Expeditionary Unit, US Central Command, Oman Sailors, Hornet, Theodore Roosevelt Carrier Strike Group, Eisenhower Carrier Strike, Warships, Communication, US, Abraham Lincoln Carrier Strike Group, Lincoln, Pentagon Press, Air Force Locations: Israel, Iran, Tehran, East, American, Gibraltar, Lebanon, New York, Souda, Crete, Yemen, Red, Gulf, Aden, Oman, CENTCOM, Gulf of Oman, Beirut, Philippine, Georgia, The Ohio

☆ People making $200,000 or more are flocking to these 10 states: Florida is No. 1
▼ + stars: | 2024-08-12 | by ( Jade Thomas | ) www.cnbc.com time to read: +2 min

Florida had the biggest net gain of high-earning households, according to a recent SmartAsset study . Using $200,000 of adjusted gross income as a threshold, the study examined the number of high-income households moving into and out of each state to determine the net inflow. More high-income households have left California and New York than moved in, but some states saw the opposite. "I would say that's a little unique, that these smaller-population states are really pulling their weight in attracting or pulling above their weight in attracting high-earning households," DeJohn says. Here are the states that saw the biggest net inflow of high-earning households:

Persons: SmartAsset, Jaclyn DeJohn, SmartAsset's, DeJohn, David Tinsley, Charlie Dougherty, Dougherty, There's Organizations: New Hampshire —, Bank of America Institute, Wells, Wells Fargo Economics Group Locations: North, South Carolina, Arizona . Florida, California, New York, Florida , Texas , Tennessee , Nevada, New Hampshire, Southern, Wells Fargo, Texas, Florida, Area, Los Angeles, Portland, Seattle, Austin, , Texas, United States, Tinsley

☆ 2 cofounders whose last company sold to Amazon have raised $5 million to turbocharge a new comic-book startup. Read their pitch deck.
▼ + stars: | 2024-08-09 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Steinberger cofounded the comic-book platform Comixology in 2007, where Mosher would later serve as head of content. The pair joined Amazon in 2014 after it acquired the upstart, helping to shape the tech giant's digital comics and manga content experience. That background gave the pair a leg up when it came time to fundraise for Dstlry, Steinberger told Business Insider. "We spent a lot of time on the deck trying to really refine the storytelling," Steinberger said.

Persons: —, Dstlry, Chip Mosher, David Steinberger, Mosher, Steinberger, Lorenzo di Bonaventura, Mike Vorhaus, John Schappert, It's Organizations: Service, Business, Amazon, 1AM Gaming, Kodansha, Warner Bros

☆ In an oversaturated market for AI companies, these startups have the best shot at surviving
▼ + stars: | 2024-08-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .

Persons: —, Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London

☆ Japanese yen carry trade: A very popular trading strategy just blew up in investors’ faces
▼ + stars: | 2024-08-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

When you hear commentators talking this week about the “yen carry trade” or the “great unwind,” they’re referring to a popular trading strategy that is, suddenly, blowing up in investors’ faces. The carry trade, explainedPut simply: A carry trade is when you borrow money in a place where interest rates are low and use it to invest elsewhere in assets that generate some kind of return. “That is bonkers.”The yen carry trade proved especially popular in the last four years, because Japan was the only major economy in the world offering essentially free money. The carry trade relies on borrowing, which means it’s a leveraged position. “The carry trade unwind… is somewhere between 50%-60% complete.”In other words: Buckle up, and don’t panic.

Persons: CNN Business ’, ”, John Authers, “, it’s, John Sedunov, Kit Juckes, ” Sedunov, Arindam Sandilya, JPMorgan Chase, Buckle Organizations: CNN Business, New York CNN, Wall, ” Bloomberg, Treasury, Villanova School of Business, Bank of Japan, Federal Reserve, Societe Generale, JPMorgan, Bloomberg Locations: New York, Japan, Europe

☆ The core crew that helped Sam Altman start OpenAI has dwindled from 10 to 2
▼ + stars: | 2024-08-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

"We're grateful for John's contributions as a founding team member at OpenAI and his dedicated efforts in advancing alignment research," OpenAI said in a statement to TechCrunch. (I first met John in a cafe in Berkeley in… — Sam Altman (@sama) August 6, 2024This makes Schulman the eighth cofounder who has left OpenAI since its founding in 2015. — Greg Brockman (@gdb) August 6, 2024Besides Schulman, OpenAI has seen multiple exits among its leadership ranks in recent months. In May, OpenAI co-founder and chief scientist Ilya Sutskever announced his resignation from the company. To be sure, not everyone has left OpenAI on such acrimonious terms.

Persons: —, John Schulman, Schulman, Altman, OpenAI, John, … — Sam Altman, — Altman, Wojciech Zaremba, Greg Brockman, Brockman, Ilya Sutskever, he'd, OpenAI's, Jan Leike, Leike, Elon Musk, Musk, Roboticist Trevor Blackwell, Vicki Cheung, Durk Kingma, Pamela Vagata, Andrej Karpathy, Karpathy, Tesla, OpenAI didn't Organizations: Service, Business, Superintelligence Inc, OpenAI, Microsoft, Google, ChatGPT, EV giant's, Business Insider Locations: OpenAI, Berkeley, …

☆ OpenAI co-founder John Schulman says he will leave and join rival Anthropic
▼ + stars: | 2024-08-06 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI co-founder John Schulman said in a Monday X post that he would leave the Microsoft -backed company and join Anthropic, an artificial intelligence startup with funding from Amazon . In June, OpenAI said Schulman, as head of alignment science, would join a safety and security committee that would provide advice to the board. Schulman has only worked at OpenAI since receiving a Ph.D. in computer science in 2016 from the University of California, Berkeley. The leaders of the superalignment team, Jan Leike and company co-founder Ilya Sutskever, both left this year. Also on Monday, Greg Brockman, another co-founder of OpenAI and its president, announced that he was taking a sabbatical for the rest of the year.

Persons: ChatGPT, OpenAI, John Schulman, Schulman, OpenAI's, Jan Leike, Ilya Sutskever, Leike, Sutskever, Sam Altman, Altman, Tasha McCauley, Helen Toner, Toner, WilmerHale, Greg Brockman Organizations: Darktrace Plc, Microsoft, Amazon, OpenAI, University of California, Anthropic, Superintelligence Inc, Google, Employees, AI Safety Locations: Brooklyn, New York, British, Berkeley, Francisco

☆ 'Babies tossed out with the bath water': Why top strategists aren't scared during the wildest market since March 2020
▼ + stars: | 2024-08-06 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Related storiesWhile those concerns served as the kindling, it was the July jobs report that sparked terror. A closer look at the jobs report reveals that while job additions underwhelmed, jobless claims were also minimal. AdvertisementSecond-quarter earnings growth has been impressive so far and seems set to rise by low single digits, according to UBS GWM. The bullish strategy chief remarked in a note Monday that six of the 11 market sectors have enjoyed double-digit earnings growth this quarter, while only three have seen declines. "Such sell-offs can offer an opportunity to 'catch babies tossed out with the bath water,'" Stoltzfus wrote.

Persons: —, Oppenheimer, Jonathan Golub, Oppenheimer Jason Draho, Americas Solita Marcelli, Marcelli, Beryl, Draho, That's, David Lefkowitz, John Stoltzfus, Stoltzfus Organizations: Service, Business, UBS, UBS Global Wealth Management, Labor, UBS GWM Locations: Americas

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