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☆ The real reason behind Hollywood's miserable weekend
▼ + stars: | 2024-05-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewThis weekend my family went to the movies, twice. This past holiday weekend was the worst Memorial Day showing Hollywood has seen in decades, with ticket sales down a staggering 40% from last year. One thing Hollywood is very good at is generating explanations for a flop — or in this case, multiple flops. (I paid $44.76 for the two Furiousa tickets I bought over the weekend at my local Alamo Drafthouse. I don't think movies or movie theaters are going away.

Persons: —, Max, Matthew Ball, Barbie, Oppenheimer, Tom Rothman Organizations: Service, Garfield, Hollywood, Business, Sony

☆ Vivek Ramaswamy has a plan for BuzzFeed. There's just one problem.
▼ + stars: | 2024-05-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Former Republican presidential candidate Vivek Ramaswamy announced last week he had been buying up shares in BuzzFeed. Which led to the obvious question: Why is Vivek Ramaswamy buying up shares in BuzzFeed? Related storiesHe's laid it out in a letter to BuzzFeed's board, but if you're in a hurry I can summarize it for you: Ramaswamy wants BuzzFeed to pull an Elon Musk. Another option would be for Ramaswamy to play this out a while longer and watch BuzzFeed shares shoot up based on his saber-rattling. BuzzFeed shares closed at $3 today, up 20% from May 22, when Ramaswamy first disclosed his stake.

Persons: Vivek Ramaswamy, Ramaswamy, BuzzFeed —, Elon, Musk, Tucker Carlson, Bill Maher, There's, Jonah Peretti, Peretti, Donald, he's Organizations: Service, Republican, Twitter Locations: BuzzFeed, MAGA

☆ Porsche reveals a new hybrid 911 as more consumers embrace hybrids over electric vehicles
▼ + stars: | 2024-05-28 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

They have become increasingly popular in the United States even as sales of purely electric models have started to slow. The German automaker Porsche, a division of Volkswagen AG, already sells plug-in hybrid models like the Cayenne e-Hybrid SUV and Panamera e-Hybrid four-door car, but a hybrid 911 is another matter. Initially, hybrid power will be available in only one version of the car, the high performance 911 Carrera GTS. In another major change for Porsche, this car will not be a plug-in hybrid, as other Porsche hybrid models have been. Besides hybrids, Porsche also sells fully electric cars, the Taycan and the new Macan Electric SUV.

Persons: CNN —, didn’t, Ferdinand Porsche Sr, Ferdinand “ Ferry, Ferry’s, Ferdinand “ Butzi Organizations: CNN, CNN — Porsche, Porsche, Volkswagen AG, Carrera, Volkswagen Locations: United States, Cayenne

☆ The Delivery Business Shows Why Unions Are Struggling to Expand
▼ + stars: | 2024-05-27 | by ( Peter Eavis | ) www.nytimes.com time to read: +1 min

Last year, two unions representing workers at three large automakers and UPS negotiated new labor contracts that included big raises and other gains. Leaders of the unions — the United Automobile Workers and the Teamsters — hoped the wins would help them organize workers across their industry. The Teamsters have made even less progress at UPS’s big nonunion rivals in the delivery business, Amazon and FedEx. Polling shows that public support for unions is the highest it has been in decades. Many of the workers doing deliveries for Amazon and FedEx work for contractors, typically small and medium-size businesses that can be hard to organize.

Persons: Teamsters — Organizations: UPS, United Automobile Workers, Teamsters, Volkswagen, Mercedes, Benz, Amazon, FedEx, Polling Locations: Tennessee, Alabama

☆ No, Americans Aren’t Completely Stupid About Inflation - The New York Times
▼ + stars: | 2024-05-27 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Stefanie Stantcheva was 11 years old in 1997 when annual inflation in Bulgaria, the country from which she and her family had emigrated, surpassed 2,000 percent. “The episode helped shape her eventual decision to study economics,” according to a profile in the International Monetary Fund’s Finance & Development magazine. Inflation and how people perceive it still fascinate Stantcheva, now a professor of political economy at Harvard and the founder and director of its Social Economics Lab. This year she released a pair of papers on the topic, the first about why people dislike inflation and the second, with a pair of co-authors, about how they understand it. Some people will take this as evidence that ordinary Americans are simply wrong.

Persons: Stefanie Stantcheva, we’re, Tom Jensen Organizations: Monetary Fund’s Finance, Development, Harvard, Social, Econ, Public, Democratic Locations: Bulgaria

☆ We live in Hong Kong and are returning to the US to retire. We don't have a credit score and our Social Security is minimal.
▼ + stars: | 2024-05-27 | by ( Peter Maize | ) www.businessinsider.com time to read: +3 min

After 35 years of living and working in Hong Kong, my wife, Wendy, and I are returning home to the US. Setting aside concerns of whether we are jumping from a frying pan into a fire (ongoing crackdown on freedoms in Hong Kong versus political ruptures in the US), we have many other issues to grapple with. We don't have credit scores or credit cardsTake, for example, our credit score: we don't have one. In Hong Kong we have always paid our bills on time and are conscientious consumers. For us, that won't be a significant amount since most of my prime employment years were spent overseas working for Hong Kong companies.

Persons: Wendy, it's, We've Organizations: Service, Social Security, Department of Motor Vehicles Locations: Hong Kong, America, LA, Pacific, United States

☆ Opinion | Debating the Best Way to Fix Social Security
▼ + stars: | 2024-05-26 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Want to Fix Social Security? The Well-Off Must Accept Smaller Checks,” by Peter Coy (Opinion, nytimes.com, May 13):I find it maddening that the only solution to the Social Security Trust Fund difficulties offered by conservatives is reducing benefits. There are a number of acceptable increases that could solve the funding problems of Social Security and Medicare. Let me suggest a few: The Social Security tax stops at a relatively low income level, $168,600 annually, this year. Speaking of all of a person’s income, why is it that only “earned” income is taxed for Social Security?

Persons: Peter Coy, stiffs Organizations: Social Security Trust Fund, Social Security

☆ Opinion: Alito’s second red flag
▼ + stars: | 2024-05-26 | by ( Kirsi Goldynia | ) edition.cnn.com time to read: +18 min

This is not the first time Alito has found himself in hot water over displaying a controversial flag on his property. The upside-down flag, a signal of distress, was adopted by Trump supporters who believed the false claim that the election had been stolen. (Alito said his wife had raised the upside-down flag in response to a disagreement with a neighbor. The discovery also comes at a time when the Supreme Court will be making a decision about Trump’s claims of sweeping presidential immunity, his get-out-of-jail-free card for the federal cases he faces. “The notion that the Supreme Court can be trusted to be an arbiter above partisan politics has suffered major blows in recent years.

Persons: ”, Scott Peck, Samuel Alito, “, Alito, Joe Biden’s, Trump, Julian Zelizer, Walt Handelsman, Michael J, Broyde, Ruth Bader Ginsburg, Donald Trump, ‘, ’, ” Nikki Haley’s, Nikki Haley’s, Nikki Haley, Haley, Nancy Pelosi, She’s, Joe Biden ‘, I’ve, ” Clay Jones, Drew Sheneman, Judge Juan Merchan, Robert Costello, Michael Cohen, Norm Eisen, Costello, ’ Merchan, cautioning, …, Eisen, Sunak, Rishi Sunak, Henry Nicholls, Holly Thomas, Sunak —, Thomas, Joel Pett, Adolf Hitler, Ruth Ben, Hitler, Benito Mussolini, Said Ben, Anna Sauerbrey, Sauerbrey, Biden, America —, Richard Curtis ’, Julia Roberts, Hugh Grant, Laura Beers, it’s, —, Ebrahim Raisi, Frida Ghitis, Ali Khamenei, Peter Kuper, Cagle, “ I’m, What’s, Benjamin Netanyahu, Yoav Gallant, Yahya Sinwar, Mohammed Diab Ibrahim al, Masri, Ismail Haniyeh, Peter Bergen, ” Netanyahu, Israel’s, Netanyahu, Kerri Kennedy, Biden “, Israel, ” Don’t, Agency Carrie Sheffield, Noah Berlatsky, Singleton, Biden’s Morehouse, Jill Filipovic, Diddy, Cassie Ventura, Catherine Tan, Shanahan, Brian Castrucci, Frank Luntz, Mark Zandi, Trump Will Cathcart, Joyce M, Davis, Bill Maher, Jimmy Kimmel, Randy Holmes, Bill, ” Nicole Hemmer, Said Will, Maher, Hemmer, ” “ Maher, It’s Organizations: CNN, New York Times, Agency, Trump, South Carolina Gov, Republican, NHS, Labour, Tory, Social, Italiana, European Union, ”, Islamic, Education, Workforce, Harvard, University of California, Columbia University, Columbia, Criminal Court, ICC, Israeli, International Court of Justice, United Nations Security, American Friends Service Committee, RFK, Disney, Entertainment, Democrats Locations: Alito’s Virginia, New Zealand, AFP, ”, England, Trump’s America, America, Italian, Germany, Poland, France, Berlin, Hill, American, British, London, Notting Hill, Iran, Republic of Iran, Islamic Republic, University of California Los Angeles, Gaza, United Kingdom, Rafah, Georgia’s, Moscow, Africa

☆ Here’s why we eat popcorn at the movies
▼ + stars: | 2024-05-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

But the perfect (and very profitable) pairing of today wasn’t always the case: For many years, movie theaters wanted nothing to do with the snack. People watch movies in a newly reopened AMC River East theater on Aug. 20, 2020, in Chicago. Popular movies often bring collectible cups and popcorn buckets, or, in industry-speak, Collectible Concession Vehicles (CCVs). The cinema business will continue to evolve, but one thing will remain constant, said Gil of Queen’s University. “Theaters will stop playing movies before they will actually stop selling popcorn.”

Persons: “, Fred Astaire, Ginger Rogers, ” Paul Dergarabedian, Andrew F, ” Smith, Cracker Jack, ”, Smith, ’ ” Smith, hawkers, Peter Stackpole, John Aitkin, John Sr, Aitkin, Alicia Wallace, CNN It’s, Loren Williams, Alicia Reese, Ricard Gil, Jason Wambsgans, Gil, Wedbush’s Reese, Red Robin, ” Nels Storm, Garfield ”, Cory Ryan, Heather Morgan, Alamo’s, ” Andrew Sherburne, Christian Meoli, Camilla Meoli, ” Gil Organizations: Minneapolis CNN, CNN, AMC, Exposition, Bettmann, Riverview, “, Riverview Theater, Wedbush, Queen’s University, Chicago Tribune, Tribune, Service, Waffle, AMC Theatres ’, Walmart, Kroger, Alamo, University of Iowa’s, Cinemas Locations: Minneapolis, America, New England, South America, Philadelphia, Texas, South Minneapolis, Riverview, “ Kingdom, Canada, Chicago, Brooklyn , New York, Iowa City , Iowa, Seattle, Emerald, California

☆ Rome is building an eight-story underground museum – but treasures keep getting in the way
▼ + stars: | 2024-05-24 | by ( Barbie Nadeau | ) edition.cnn.com time to read: +6 min

Pope Francis opens the "Holy Doors" at St. Peter's Basilica to mark the start of the Jubilee Year of Mercy. Now the hope is to have the line’s showcase Piazza Venezia stop, featuring an eight-story underground museum, ready in 10 years, according to engineer Andrea Sciotti, who is in charge of the metro museum complex. Each will be placed exactly where it was found inside the metro museum, which is being dug some 85 meters (280 feet) deep, encompassing eight stories below the modern city of Rome. The Venezia station museum stop is not the only treasure on the new line. In 2025, the new Colosseo-Fori station, complete with a four-level underground museum to showcase artifacts including 25 archaic wells unearthed when it was built, will also open after activation tests, meant to begin in October, are completed.

Persons: Rome, it’s, wasn’t, Pope Francis, Mercy, VINCENZO PINTO, Emperor Hadrian’s, Andrea Sciotti, Jesus Christ, “, ” Sciotti, Emperor Hadrian's, Stefano Montesi, Sciotti, It’s, ” Organizations: Rome CNN —, San, Vatican, AFP, Piazza Venezia, CNN, Corbis, Roman, Palazzo Venezia, Colosseum Locations: Rome CNN — Rome, San Giovanni Cathedral, Peter’s, St, AFP, Rome, San Giovanni, Italy, London ., Venezia

☆ Educating workplaces about AI will lead to better outcomes, say business leaders
▼ + stars: | 2024-05-24 | by ( Leila Jordan | ) www.businessinsider.com time to read: +5 min

I think I use generative AI every day, and it's taken me a year to become comfortable with that intervention and interface," he said. "It's going to lead to better outcomes for them and ultimately and more importantly, better outcomes for our customers." JLL recently launched multiple AI initiatives, including an HVAC energy-optimization platform to help reduce energy and service costs, and JLL GPT, a generative AI project built for the commercial-real-estate industry. AdvertisementFor Dr. Mozziyar, AI's greatest potential in the medical field is its ability to assess patients' conditions. "We want the interaction with AI, or the use of AI, to paradoxically remove the barriers between, in our case physician and the computer," said Dr. Mozziyar.

Persons: Matt Baker, Baker, Mozziyar Etemadi, Etemadi, Peter Miscovich, Miscovich, Mozziyar, JLL, They're Organizations: Service, Efficiency, Dell Technologies, Business, Northwestern Medicine, Dell

☆ What the Downfall of Red Lobster Tells Us About America - The New York Times
▼ + stars: | 2024-05-24 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

In his article for a 1945 issue of The Journal of Farm Economics, he settled on just five foods based on their August 1939 prices, in these quantities per year: 370 pounds of wheat flour, 57 cans of evaporated milk, 111 pounds of cabbage, 23 pounds of spinach and 285 pounds of dried navy beans. Stigler hastened to say that this was purely an academic exercise, not a diet recommendation. “It would be the height of absurdity to practice extreme economy at the dinner table in order to have an excess of housing or recreation or leisure,” he wrote. Still, I thought of the Stigler diet this week when the news came out that Red Lobster, the seafood restaurant chain, had cracked under pressure and filed for Chapter 11 bankruptcy protection. One source of its problems — not the biggest, but the easiest for customers to grasp — was an every-day-all-you-can-eat shrimp promotion last year that got too popular and was a key reason for an $11 million quarterly operating loss.

Persons: George Stigler, ”, — Organizations: Farm Economics

☆ What Living in a SpaceX Company Town Tells Us About Elon Musk - The New York Times
▼ + stars: | 2024-05-24 | by ( Christopher Hooks | Mike Osborne | ) www.nytimes.com time to read: +1 min

He woke as if Elon Musk himself had grabbed him by the shoulders. Mr. Musk spent $44 billion of mostly other people’s money to buy Twitter, rebrand it to X and guarantee that he could continue to irritate people on a global scale. For Mr. Rangel, what was figurative for others had become literal: When a tycoon stomps, the earth shakes. Mr. Musk’s company SpaceX had launched a new iteration of its Starship rocket about 25 miles away. But Mr. Rangel still couldn’t go back to sleep.

Persons: Noel Rangel, Elon Musk, Peter Thiel, Donald Trump —, —, Jeff Bezos, Musk, Rangel, stomps, couldn’t Organizations: Twitter, SpaceX Locations: Gulf of Mexico, Brownsville , Texas, West Texas

☆ Here's how U.S. health officials are responding to bird flu in humans after second case
▼ + stars: | 2024-05-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Brandon Bell | Getty ImagesU.S. health officials are monitoring and preparing to combat bird flu in humans, even as they stress that the risk to the general public remains low. An Australian child was also recently infected with bird flu, the country announced on Tuesday. In rare cases, bird flu viruses spread to humans and can cause mild to severe symptoms that can require hospitalization. The Food and Drug Administration would need to approve bird flu vaccines before they roll out. Potential mRNA shotsU.S. health officials are also in talks with messenger RNA vaccine makers about potential bird flu shots for humans.

Persons: Brandon Bell, Andrew Pekosz, Pekosz, Peter Chin, That's, Hong Organizations: Getty, Disease Control, U.S ., Human Services Department, CNBC, Johns Hopkins Bloomberg School of Public Health, CDC, HHS, NBC News, UCSF Health, Drug Administration, FDA, Pfizer, Moderna Locations: Quemado , Texas, Michigan, Australian, U.S

☆ Why Google is (probably) stuck giving out AI answers that may or may not be right
▼ + stars: | 2024-05-24 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

And that most people don't know or care about search answers that tell people how many rocks to eat. Many of the examples we've seen have been uncommon queries, and we've also seen examples that were doctored or that we couldn't reproduce. What happens if people keep finding Bad Answers on Google and Google can't whac-a-mole them fast enough? Because that would be a really, really big problem. And the thing that's very different between the old Google results and the new ones is the responsibility and authority Google is shouldering.

Persons: —, we've, Katie Notopoulos, Katie, it's, Lara Levin, I've, We've, they'd Organizations: Service, Google, Business Locations: ChatGPT

☆ This Memorial Day kicks off a buyer’s market for new cars
▼ + stars: | 2024-05-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The new car market is finally a buyer’s market again. The Volkswagen ID.4 and Kia Niro EV, for instance, are selling at average discounts of more than 13%, according to Edmunds.com. Vehicles from the outgoing 2023 model year now account for 6.8% of all new vehicles on dealers’ lots, according to Edmunds.com. Dealers for Stellantis brands – Dodge, Chrysler, Jeep and Ram – are offering the biggest discounts, according to Edmunds.com.

Persons: Covid, Cox, ”, Eric Barbosa, we’ve, “, Barbosa, –, Ram –, Edmunds, Ivan Drury, Brian Finkelmeyer, Brian Moody, Kelley Organizations: CNN, Toyota, Ford, Ford Bronco, Cox Automotive, GMC, Volkswagen, Kia Niro, Cavender Auto Group, Vehicles, Dealers, – Dodge, Chrysler, Jeep, Dodge, Lincoln Nautilus, Consumers, Honda, Kia, Autotrader Locations: San Antonio , Texas, Edmunds

☆ UN’s top court orders Israel to ‘immediately’ halt its operation in Rafah
▼ + stars: | 2024-05-24 | by ( Abbas Al Lawati | ) edition.cnn.com time to read: +7 min

CNN —The United Nations’ top court has ordered Israel to immediately halt its controversial military operation in the southern Gaza city of Rafah, further increasing international pressure on Israel over its war against Hamas. Israel began a limited ground offensive in Rafah on May 7, defying calls from the international community, including the United States, not to proceed. More than a million Palestinians were taking shelter there before Israel started its operation, but the court noted that around 800,000 have since been displaced. Ambassador of the Republic of South Africa to the Netherlands, Vusimuzi Madonsela, waits for judges to enter the International Court of Justice in The Hague, Netherlands on Friday. The development comes as Israel faces mounting international and domestic pressure to end the war in Gaza.

Persons: “, Nawaf Salam, ”, Israel, Vusimuzi, Peter Dejong, International Law Gilad Noam, Benjamin Netanyahu, Yoav Gallant, Netanyahu, Biden, Joe Biden, ” Israel, Israel’s, Israel ‘, ” Yossi Mekelberg, Eliav, Neve Gordon, Gali, Amit Aisman, Gordon Organizations: CNN, United Nations ’, Hamas, International Court of Justice, Israel, Court of Justice, International Law, Criminal Court, ICC, Israel Defense Forces, ICJ, Health Ministry, North Africa, Chatham House, Tel Aviv University, Queen Mary University of London, Times Locations: Israel, Gaza, Rafah, “ Israel, United States, Egypt, South Africa, Pretoria, Republic of South Africa, Netherlands, The Hague, Washington, Palestinian, East, London, Gali Baharav

☆ Inflation isn’t keeping Americans from having fun this Memorial Day weekend
▼ + stars: | 2024-05-24 | by ( Alicia Wallace | Krystal Hur | ) edition.cnn.com time to read: +5 min

And this Memorial Day weekend could be a case in point: Travelers are expected to come out in record-setting droves. Three-plus years of high inflation have taken their toll on Americans’ budgets and, especially, their mindsets. Inflation has slowed during the past couple of years, pulling back significantly from its peak of 9.1% in June 2022. Americans, especially lower-income consumers, have pulled back spending at retailers as goods inflation outpaces wage growth. Pandemic-era savings have been spent while sticky inflation and high inflation rates eat into household budgets.

Persons: ” Gus Faucher, Price, ” Faucher, Taylor, it’s, ”, Ed Bastian, Swift, Delta, Taylor Swift’s, That’s, Kathleen Oberg, “, Peter Kern Organizations: New, New York CNN, Transportation Security, TSA, PNC Financial Services, CNN, Consumer, Mickey Consumer, Commerce Department, Disney, Delta Air, ” United Airlines, Mastercard, Institute, Marriott International, Marriott, Expedia Group Locations: New York, United States, Hong Kong, Europe

☆ Their Nissan SUV was parked in the driveway. Then it caught fire and exploded
▼ + stars: | 2024-05-24 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

The loud bangs, she learned later, had come from the airbags of the family’s SUV, a 2015 Nissan Murano that was parked in the driveway. A Nissan Murano, which was parked in Phillip Hill’s driveway when it caught fire. A search on NHTSA’s website indicated there was an outstanding unrepaired recall on the Hills’ Murano. Philip Hill had been fixing the garage, so the couple’s two cars were parked in the driveway. “As you can see from the video, that vehicle is so close to the house,” Philip Hill told CNN.

Persons: Vicki Hill, ”, Nissan, Phillip Hill’s, Phillip Hill “, Murano, Philip Hill, ” Philip Hill, “, Mercedes Organizations: CNN, Nissan, Administration, National Fire Protection Association, Vehicle Locations: Bethesda , Maryland, Nissan Murano, Murano, Phillip, United States

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☆ FEC lets Peter Thiel-funded super PAC off the hook
▼ + stars: | 2024-05-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Super PACs, which can accept unlimited donations, are legally barred from coordinating with or donating directly to politicians' campaigns. Advertisement"I'm gratified that a bipartisan group at the FEC has rightly rejected this baseless, headline-seeking complaint," Luke Thompson, the executive director of the super PAC, told Business Insider. "This super PAC was keeping him afloat as a candidate with research, messaging ideas, and all of the stuff that basically allowed him to remain viable." In recent years, it's become increasingly common for campaigns and super PACs to use public websites to get around existing campaign finance laws. Those materials had been funded by Never Back Down, a super PAC supporting the Florida governor.

Persons: —, Republican Sen, JD Vance's, Peter Thiel, Donald Trump, Vance, Ellen Weintraub, Luke Thompson, Jonas Edwards, Jenks, Saurav Ghosh, they're, Ghosh, who's, Tim Ryan, Thiel, David Sacks, Rebekah Mercer, it's, Ron DeSantis's Organizations: Service, Commission, Republican, PAC, Campaign, Citizens United, Business, Legal, Citizens, Democratic, FEC, End Citizens, GOP Senate, Florida Gov, Florida Locations: Ohio, Florida

☆ Gildan's board abruptly resigns ahead of annual meeting, handing control to activist
▼ + stars: | 2024-05-23 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The activist firm later claimed Gildan's board was showing a "complete disregard for sound corporate governance." The last time an entire board resigned during an activist battle was in 2012, when Canadian Pacific's board yielded to Bill Ackman hours before the railroad's annual meeting. "We are deeply grateful for the outpouring of support that Browning West's slate and plan have received from our fellow shareholders, Gildan employees, and leading proxy advisory firms," Browning West's Usman Nabi and Peter Lee said in a statement. Browning West, based in Los Angeles, accused Gildan's board of leaking an allegedly non-existent sale process to the media and hiring private investigators to look into one of the firm's nominees. Other major shareholders, including Anson Funds and Janus Henderson, backed Browning West's push.

Persons: Gildan Activewear, Browning West's, Glenn Chamandy, Browning, Vince Tyra, Bill Ackman, Browning West's Usman Nabi, Peter Lee, Gildan's, Gildan, Chamandy, Tyra, Michael Kneeland, Janus Henderson, Glass Lewis, Ancora Organizations: Houchens Industries, Amazon, Target, United Rentals, Anson Funds, Norfolk Southern Locations: Montreal, Gildan, Los Angeles

☆ OpenAI's defense: We're not liars; we're just incompetent. Yikes!
▼ + stars: | 2024-05-23 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Earlier this week, the consensus around OpenAI was that the company was a lying, rapacious soul stealer. A company that wanted to use Scarlett Johansson to promote its product — and when she declined, went ahead and did it anyway, using a fake Scarlett Johansson. Here's the problem: The second version of reality is the one OpenAI itself is pushing. And OpenAI is a relatively young company, with a particularly chaotic history, which includes a foundational fight with Elon Musk and last year's well-publicized Thanksgiving coup-that-wasn't. Now they're telling us they can't handle the most basic stuff, like telling the left hand what the right hand is doing.

Persons: OpenAI, Scarlett Johansson, —, Scarlett Johansson —, Sam Altman, Johansson —, Altman, Joanne Jang, Jang, Mira Murati, Elon Musk, It's Organizations: Washington Post, bumblers, Apple, Microsoft Locations: Washington

☆ Sales of newly built homes tank in April, as prices and interest rates rise
▼ + stars: | 2024-05-23 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Sales of newly built homes dropped 4.7% in April compared with March, and dropped a larger 7.7% from the prior year, the U.S. Census said Thursday. Higher mortgage rates are clearly hampering sales. Some of that is due to the mix of homes selling, which is mostly on the higher end of the market. Those buyers are not as influenced by mortgage rates, as they often use all cash. The big production builders have been buying down mortgage rates to help boost sales, but they are able to do that because of their size.

Persons: Peter Boockvar, Robert Dietz, NAHB's Organizations: Spring Barbera Homes, Builders, Toll Brothers, Bleakley Financial, CNBC, National Association of Home Builders, Wells Fargo . Locations: Loudonville , New York, U.S, Horton, Wells Fargo

☆ A flight attendant was burned by boiling water, and an elderly woman didn't know where she was after massive turbulence on a Singapore flight, passenger says
▼ + stars: | 2024-05-23 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Read previewSingapore Airlines cabin crew were burned by boiling water when the plane encountered severe turbulence, a passenger told Sky News. "I'm looking around, you're seeing blood, you're seeing the ceilings falling through. On Wednesday, the airline said 74 passengers and six crew members remained in Bangkok. "This includes those receiving medical care, as well as their family members and loved ones who were on the flight," it added. "I assure all passengers and crew members who were on board the aircraft that we are committed to supporting them during this difficult time," he added.

Persons: —, SQ321, Josh Silverstone, Silverstone, Peter Seah Organizations: Service, Singapore, Sky News, Business, Boeing, Silverstone, Singapore Airlines Board Locations: London, Singapore, Bangkok

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