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A federal judge sentenced a former Army service member to prison for running a romance scam. Romance scams cost Americans $1.3 billion in 2022. AdvertisementA US soldier will spend more than three years in federal prison for a romance scam in which police say he impersonated military officials. Before his arrest, Frimpong was an active-duty Army service member stationed at Fort Bragg, the department said. "The fact that an Army service member was involved in romance scams while serving as a soldier is appalling."
Persons: , Sanda G, Frimpong, Kate Kleinert, Kleinart, Tom Tanner, Michael Easley Organizations: Army, Service, Department of Justice, Federal Trade Commission, Yahoo, Wired, Social Security, Justice Department, Business Locations: Fort, United States, Nigeria
It might be because he's a romance scammer called a "Yahoo Boy" who wants to steal your life savings. Once gaining the victims' trust, the scammers use a pretense to solicit money, like the need to pay an emergency medical expense. Last year alone, the FBI's Internet Crime Report estimated that Americans lost more than $650 million to romance scams. Kate Kleinert, a 69-year-old widow, previously told BI that she lost $39,000 to an online romance scam. Over the last two years, the Yahoo Boys started experimenting with deepfake video clips and video calls, according to Wired.
Persons: , Kate Kleinert, Kleinart, David Maimon, Trina Higgins, Higgins, haven't Organizations: Service, Yahoo, Yahoo Boys, Department of Justice, Business, Federal Trade Commission, Social Security, Wired, Georgia State University, CNN, Nigerian, Prosecutors, Justice Department Locations: Nigeria, Hong Kong, Salt Lake City, Utah
Have you, a relative, or a close friend ever been employed in the accounting or finance field? Have you, a relative, or a close friend ever been accused or convicted of committing a crime? Do you, a relative, or a close friend have a pending criminal case? Are you signed up for or have you ever been signed up for, subscribed to, or followed any newsletter or email lists run by or on behalf of Mr. Trump or the Trump Organization? The United States Constitution provides that a defendant has no burden to introduce any evidence or to testify in a criminal case.
Persons: Donald J, Trump, Donald Trump, Michael Cohen, Mark Pomerantz, Donald Trump ” Organizations: Prosecutors, New Yorker, Civil, New York Times, New York Daily, Huffington Post, CNN, MSNBC, Google, Street, The New, The New York Post, Newsday, Washington Post, Fox News, MSN, Yahoo, FBI, Attorney’s, Department of Correction, Trump, Mr, Trump Organization, Boogaloo, United, United States Constitution Locations: American, Manhattan, Side, Inwood, New, USA, The New York, New York, United States
Read previewToni Braxton, 56, is speaking up about how her lupus diagnosis has impacted her life and career. "I was told to hide I had lupus," Braxton said, adding that it was her management's idea. AdvertisementBraxton, who was diagnosed with lupus in 2008, added that being upfront about her illness hurt her career. "You would not get work, because the second I told I had it, I didn't get work at first. In April 2023, Braxton told Today that lupus "attacked" her heart and that she had narrowly avoided a deadly heart attack because she decided not to skip her doctor's appointment.
Persons: , Toni Braxton, Braxton —, Daniel Wallace —, Mary Alice Haney, Thaïs Aliabadi, Braxton, I'm, Braxton isn't, Selena Gomez, I've, could've, Gomez, Seal, lupus, traumatizing, Lupus Organizations: Service, OB, Business, Billboard, Yahoo, Lupus Foundation of America
Not even a six-figure fine can get Mark Cuban to change his leadership tactics. A year later, he was fined $100,000 by the league for his unconventional methods of team leadership, he tells CNBC Make It. At the time, Cuban was 41 and full of energy after buying his way into his dream job. He still leans on his interpersonal leadership approach today, often providing advice, building connections and offering mentorship to contestants on ABC's "Shark Tank." If you're struggling with your own leadership style, Cuban recommends figuring out what being a leader actually means to you.
Persons: Mark Cuban, he'd, Draymond, Cuban, David Stern, Stern Organizations: Cuban, Yahoo, NBA's Dallas Mavericks, CNBC, NBA, Mavericks, National Society of Leadership
Mark Cuban believes you're capable of greatness — as long as you stay open-minded enough to discover your strengths. "I'm a hardcore believer that everybody has something that they're really, really, really good at — that could be world-class great. "I [only] took one technology class in college, Fortran programming, and I cheated on it," Cuban said. "That's when I realized that I can be really, really good at technology." After getting fired from that sales job, Cuban started a software company called MicroSolutions, which he sold to CompuServe for $6 million in 1990.
Persons: Mark Cuban, Lex Fridman, he'd, Cuban Organizations: Cuban, Mellon Bank, Mellon, CompuServe, Yahoo, CNBC Locations: Pittsburgh, Dallas, Cuban
What's more important? AI or the election.
  + stars: | 2024-04-05 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today's big story, we're announcing the finalists for our business, tech, and innovation bracket. What's on deck:This story is available exclusively to Business Insider subscribers. If you're just catching up, a few weeks ago we identified eight of the biggest trends in business, tech, and innovation. And then there were two: the AI race vs the US presidential election. Dan Rosen, founder and partner, Commerce Ventures:Advertisement"As a fintech investor, AI strikes me as more important.
Persons: , we're, Chelsea Jia Feng, Readers, Bruce K, Lee, Dan Rosen, Ira Allen, Tracy Albert, Wendy Craft, Elle, Dodd, Frank, Zach Blank, Nick DiGiovanni, Adam Jeffery, Ian MacNicol, David Einhorn, Jesse Cohn, Greg Coffey, Goldman Sachs, Brian Robinson, Nelson Peltz's, James Park, would've, Justin Sullivan, Marissa Mayer's, Enrique Munoz Torres, Elon Musk, Musk, Lukas Schulze, it's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Keebeck Wealth, Commerce Ventures, CNBC, NBCU, Getty, Elliott Management, Sohn, Street Journal, Disney, UCLA, Yahoo, LinkedIn, Elon, Apple, Ford, Workers, Advertising Research, NCAA Locations: Europe, California, New York, London
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewApple's decision to cut more than 600 employees in California speaks to the challenges facing the technology titan and affecting its stock price — and why analysts are divided over its outlook. At the same time, reports suggest Apple is looking into building robots that help people with household tasks. Related storiesWorries that Apple has lost its way have weighed on its stock price. Even so, Apple is a mainstay of many stock portfolios and unlikely to fall much further, Craig Johnson, chief market technician at Piper Sandler, told Bloomberg.
Persons: , Gene Munster, Dan Ives, Cook, Apple, Craig Johnson, Piper Sandler, Warren Buffett, they've, Johnson Organizations: Service, Apple, Business, Deepwater Asset Management, CNBC, Big Tech, Microsoft, Bloomberg, Berkshire Hathaway, Yahoo Finance Locations: California, China, Europe, Berkshire
Marissa Mayer's company just launched Shine, a photo-sharing app. Enrique Munoz Torres, the cofounder, just quit the company. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen former Yahoo CEO Marissa Mayer tweeted about the launch of her new app, some people roasted Shine's outdated aesthetic and questioned the purpose of the photo-sharing app. Shine was the third app launched by Sunshine, a company Mayer co-founded with Enrique Munoz Torres, who had also worked with Mayer at Yahoo and Google before that.
Persons: Marissa Mayer's, Enrique Munoz Torres, , Marissa Mayer, Mayer Organizations: Service, Sunshine, Yahoo, Google, Business
On television, Mark Cuban is a savvy and patient negotiator. But when the entrepreneur was a newly minted billionaire with cash to spend, he used a different tactic to buy the NBA's Dallas Mavericks. "It was all about fun," Cuban, 65, told NBA player Draymond Green's podcast, "The Draymond Green Show," on Monday. The following year, Cuban — a self-proclaimed basketball junkie — acquired a majority stake in the Mavericks for $285 million, from real estate developer Ross Perot Jr. The moment the deal was signed, Cuban hit the ground running, he told Green: "It was done.
Persons: Mark Cuban, Draymond, , Ross Perot Jr, Green Organizations: Dallas Mavericks, Yahoo, Mavericks Locations: Cuban
BOSTON (AP) — In a scathing indictment of Microsoft corporate security and transparency, a Biden administration-appointed review board issued a report Tuesday saying “a cascade of errors” by the tech giant let state-backed Chinese cyber operators break into email accounts of senior U.S. officials including Commerce Secretary Gina Raimondo. It concluded that “Microsoft's security culture was inadequate and requires an overhaul" given the company's ubiquity and critical role in the global technology ecosystem. Three think tanks and four foreign government entities, including Britain's National Cyber Security Center, were among those compromised, it said. Separately, the board expressed concern about a separate hack disclosed by the Redmond, Washington, company in January — this one of email accounts including those of an undisclosed number of senior Microsoft executives and an undisclosed number of Microsoft customers and attributed to state-backed Russian hackers. The board lamented “a corporate culture that deprioritized both enterprise security investments and rigorous risk management.”The Chinese hack was initially disclosed in July by Microsoft in a blog post and carried out by a group the company calls Storm-0558.
Persons: Biden, Gina Raimondo, , Nicholas Burns, Alejandro Mayorkas, Redmond, Morgan Stanley Organizations: BOSTON, Microsoft, State Department, Microsoft Exchange, U.S, Cyber Security, Homeland, Storm, Google, Yahoo, Adobe, Dow Chemical Locations: China, Washington, Russian
But increasingly, the algorithms that undergird our digital lives are making questionable decisions that enrich the powerful and wreck the lives of average people. There's no reason to be scared of AI making decisions for you in the future — computers have already been doing so for quite some time. As human control diminished, the real-world consequences of these algorithms have piled up: Instagram's algorithm has been linked to a mental-health crisis in teenage girls. AdvertisementAcross the public and private sectors, we've handed the keys to a spiderweb of algorithms built with little public insight into how they make their decisions. While generative AI is just the newest extension of the algorithm, it poses a unique threat.
Persons: who's, They've, Matthew Gray, Sergey Brin, Larry Page, It's, Elon Musk, Cambridge Analytica, algorithmically, ProPublica, Quora, OpenAI's ChatGPT, you've, they'll, superintelligence, — simulacrums Organizations: Knight Capital, Companies, Yahoo, Stanford, Google, Spotify, Netflix, Revenue, Facebook, Twitter, Elon, European Union, Associated Press, Black, Microsoft, Eating Disorders Association Locations: Cambridge
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Related storiesHere are four questions I would ask at the end of my interviews. It is always nice to hear people ask questions about which team they'll join and how many peers they will have. For startups, this could be funding-related challenges; for tech companies, it could be shifting to new software.
Persons: Dhritiparna Dhar, , I've, they'll, shubhangigoel@insider.com Organizations: Service, Yahoo, Google, Dell Locations: Bengaluru, India
That same day, he took off his watch and threw it away, he said at a SXSW panel earlier this month. "This time wasn't spent to learn about what my dad did, but to learn that his job didn't have a future," Cuban said. "[Buying a private plane] was my all-time goal because the asset I value the most is time, and that bought me time," Cuban told told Money in 2017. Today, Cuban wears an Apple Watch to track his health metrics, he said at SXSW — but it hasn't changed his stance on time. "I wanted to make enough money so I didn't have to respond to anybody else," Cuban said in a recently released MasterClass course.
Persons: splurging, Mark Cuban, wasn't, Cuban's, Cuban, hasn't Organizations: CNBC, Yahoo, Guinness, World Records, Cuban, Apple Watch, SXSW, Dallas Mavericks, Cost Locations: Pittsburgh
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at results from our business, tech, and innovation bracket and voting on the semifinal matchups . In case you missed it, we created a bracket with eight of the biggest topics in business, tech, and innovation . But social media has been around so long, it's truly embedded in our DNA. Former employees are suing the social media agency that manages OnlyFans accounts for top influencers like Tana Mongeau and Abby Rao.
Persons: , it's, Chelsea Jia Feng, Let's, BlackRock's Larry Fink, Joe Biden, Donald Trump, We've, Ray Dalio, Xi Jinping, LEI, Julio Cortez, Marissa Mayer's, Sam Bankman, Fried, Lewis Kaplan, Tana Mongeau, Abby Rao, Cowboy Carter, Dan DeFrancesco, Grace Lett, Lisa Ryan Organizations: Service, Business, Boomers, Getty, Bridgewater Associates, Walmart, BI, Amazon, ChatGPT, Yahoo, didn't Locations: China, Bankman, New York, Chicago
Marissa Mayer, former Yahoo CEO, just announced a new app from her latest venture. It's called Shine, and it's a photo-sharing app where multiple people can upload photos to a shared album. Are you really trying to tell me that in the year 2024, people can't figure out how to share photos with each other? Shine, the new photo-sharing app ShineYes, there are some other things that could do this. Maybe, just maybe, Marissa Mayer will have another success on her hands here.
Persons: Marissa Mayer, It's, Mayer, , Aunt Carol Organizations: Service, Yahoo, TechCrunch, Business, DOJ, Flickr, Google
The Fed could cut rates five times in 2025, according to S&P Global Ratings' global chief economist. A slowing US economy will give the Fed the green light to cut, the firm predicted. That implies the Fed will lower rates by 2 full percentage points as inflation continues to cool. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Fed could cut rates as many as five times next year, as the US economy can't keep its hot pace of growth forever, according to Paul Gruenwald, S&P Global Ratings' global chief economist.
Persons: , Paul Gruenwald, Gruenwald Organizations: Service, Yahoo Finance, Business
CNN —After 48 games of the women’s tournament at March Madness, just four perfect brackets remain intact of more than four million entries,According to the NCAA, three brackets are left on ESPN while there is one on Yahoo. There were 1,300 perfect brackets heading into the second round and then just 18 after Monday’s games. 5 Utah – 18 perfect brackets became four. The men’s tournament resumes on Thursday, while the women’s tournament picks back up Friday. NCAA.com’s breakdown of the remaining perfect brackets in the women’s tournament, with the Final Four teams in bold:• “Courtney’s COURT 2” on ESPN — South Carolina, Oregon State, Texas, Stanford, Iowa, LSU, USC and UConn• “TarHeelsOnGod!!
Persons: , , NCAA.com Organizations: CNN, NCAA, ESPN, Yahoo, Utah –, South Carolina, Final, ESPN —, LSU, USC, UConn, Notre Dame, UCLA, NC, Warner Bros . Locations: , Connecticut, ESPN — South Carolina, Oregon State , Texas, Stanford , Iowa, Notre, Notre Dame , Texas, Yahoo — South Carolina, NC State , Iowa
Boeing named Stephanie Pope the new CEO of its commercial airlines division on Monday. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStephanie Pope knows Boeing well: a third-generation employee, she joined the company in 1994. Pope did not immediately respond to a request for comment from Business Insider sent outside regular business hours.
Persons: Stephanie Pope, , Pope, Stan Deal, Michelle Ryan, Elon Musk, Linda Yaccarino, Yaccarino, Carly Fiorina, Marissa Mayer, Sue Gove, Calhoun Organizations: Boeing, Service, BCA, Boeing Global Services, Twitter, HP, Yahoo, Bed, Business Insider
That’s because some Federal Reserve officials are reconsidering forecasts they made three months ago that called for three rate cuts this year. The stakes are high because there are consequences if the Fed cuts rates soon or if it leaves rates where they’ve been for the past eight months. First rate cut hinges on inflation dataIn February, Bostic told CNN that the first rate cut could come “sometime in the summertime.” That’s also Wall Street’s current expectation. He hasn’t specified — and is unlikely to signal — the number of rate cuts he believes are appropriate for this year. He has cheered inflation’s descent and said further improvement could open the door to rate cuts — if that actually bears out.
Persons: they’ve, Raphael Bostic, ” Bostic, Bostic, That’s, Powell hasn’t, Price, Nam, ” David Page, Powell, Rather, Jerome Powell, Chip Somodevilla, Lisa Cook, Austan Goolsbee, , we’ve, we’re, Goolsbee, Christopher Waller Organizations: CNN, Federal Reserve, Atlanta Fed, Index, AXA, Federal, , Harvard University, Chicago, Yahoo Finance, Fed, San Francisco Fed Locations: New York
At one point, Elon Musk might have seemed like a great candidate to buy TikTok. Turns out my boss Henry Blodget is suggesting we all band together to rustle up the money to buy TikTok. You might recall Elon Musk from 2022. And that Elon Musk would be a great candidate to buy the US operations of TikTok. The sales pitch would be simple: Elon Musk.
Persons: Elon, , Steven Mnuchin, doesn't, Bobby Kotick, Sam Altman, Henry Blodget, Henry, didn't, Joe Biden, ByteDance, that's, Steve Mnuchin, — Elon, Elon Musk, Guy Who, Esther Crawford, Musk, he's Organizations: Service, Activision, Street, Yahoo, Twitter, Elon Locations: TikTok, ByteDance
Read previewJapanese and Korean carmakers cracked the US market long ago — but don't expect Chinese EV seller BYD to repeat that feat. Advertisement"It'd be very difficult for a Chinese EV maker to enter the US market," Seth Goldstein, an equity strategist at Morningstar, told Business Insider. The bill, a key part of US President Joe Biden's economic agenda, offers tax credits worth up to $7,500 for EV makers, excluding any "Foreign Entity of Concern." BYD isn't the only company turning its back on the US EV market. Given that EV sales growth is stalling in US, it's perhaps little wonder companies like BYD are not too bothered.
Persons: , There's, Tesla, We're, Stella Li, BYD, Seth Goldstein, I'm, Suzuki, Jim Farley, Will Roberts, Goldstein, Roberts, Joe Biden's, Joe Biden, Demetrius Freeman, Rho Motion's Roberts, you'd, Li, carmakers Organizations: Service, Yahoo Finance, Business, Morningstar, Toyota, Motors, Nissan, Mazda, Lexus, Honda, Mitsubishi, Korea's Hyundai, Kia, North, Ford, EV, Rho, Energy, Treasury, Washington Post, Cox Automotive, Apple Locations: Korean, North America, , China, North American, Russia, Iran, North Korea, Brazil, Thailand, Americas, Asia, South America
New Delhi/Hong Kong CNN —Taiwan has swung into damage control mode after its labor minister made controversial comments about the skin color, religion and diets of some Indians ahead of a potential drive to recruit migrant workers to the island. In a separate apology, Taiwan’s labor ministry said Hsu implied “absolutely no discriminatory connotation when she mentioned ‘similar skin color’ in the interview. CNN has reached out to India’s Ministry of External Affairs for comments. In February, Taiwan said it will hire migrant workers from India to ease its labor shortage, but did not share any other details. Taipei currently allows migrant workers from Thailand, Vietnam, Indonesia and Philippines to work in the island, according to the labor ministry.
Persons: Hsu Ming, chun, , ” Hsu, Hsu, Hsu’s, Taiwan’s Foxconn, ” Young Liu, ” Liu, Padma Bhushan Organizations: Hong Kong CNN, Taiwan, Yahoo, Labor, CNN, India’s Ministry, Affairs, Padma, Bloomberg Locations: New Delhi, Hong Kong, Taiwan, India’s, India, China, Bangladesh, Myanmar, Covid, “ India, Japan, South Korea, Taipei, Thailand, Vietnam, Indonesia, Philippines
BYD, the world's top-selling EV seller, has launched a cheaper version of its Yuan Plus car. Rivals such as Xpeng and Tesla have also initiated price drops and incentives to entice buyersIt comes as EV sales have dropped in China. The price cut, which comes amid an accelerating EV price war and slowing sales in the world's biggest car market, was first reported by Reuters. As well as cornering the affordable EV market, it's also dabbling in the other end of the market with a $233,000 electric supercar. As a result, Shenzhen-based BYD is "not planning to come to the US," BYD Americas CEO Stella Li told Yahoo Finance last week.
Persons: Tesla, , Xpeng, Elon, Warren Buffett, BYD, it's, EVs, Stella Li Organizations: Service, Reuters, China Morning Post, Auto, L6, Yahoo Finance, EV Locations: China, Weibo, America, Shenzhen, West
What's on deckAdvertisementBut first, zombie, zombie, zombie-ie-ie-ie. AdvertisementThat's why zombie VCs pose such a problem for the industry. Sussing out the prudent investor from the penniless one takes time and effort, two things startups can't necessarily afford when times are tough. AdvertisementIs having a zombie VC as an investor the equivalent of a scarlet letter? If a partner jumps ship from a zombie VC, startups they backed will be in a tough spot.
Persons: , here's, Insider's Ben Bergman, Ben, it's, Alyssa Powell, Morgan Stanley, Goldman Sachs, Ray Dalio isn't, Sundar Pichai, Marissa Mayer, Yahoo's, Cory Doctorow, He's, Smashmallow, they've, Jack Teixeira, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, BI, Bridgewater, Bank of America, Trading, Google, Canadian, Singapore Locations: There's, Silicon Valley, British, Singapore, Israel, New York, London, Chicago
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