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☆ Summer heat will likely bring higher electric bills amid rising temperatures
▼ + stars: | 2024-06-03 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Many Americans may get hot under the collar when they open their electric bills this summer, but for some, the consequences of rising utility costs can be a lot more serious. He pointed to the National Weather Service’s prediction that much of the country will probably have above-normal temperatures this summer. The difference in projections stems from the association assuming higher rates of usage because of hotter temperatures, Wolfe said. The Low Income Home Energy Assistance Program, known as LIHEAP, has $4.1 billion to help consumers with heating and cooling costs, down from $6.1 billion in the prior fiscal year. “Because of the lack of a coherent policy to address summer cooling, people will die this summer from heatstroke,” Wolfe said.

Persons: Mark Wolfe, ”, Wolfe, Diana Hernandez, Hernandez, “, ” Hernandez, arrearages, ” Wolfe Organizations: CNN, National Energy Assistance, Association, Center for Energy, US Energy Information Administration, Department of Health, Human Services, Energy, Columbia University, Income, Energy Assistance, US Census Bureau, District, Columbia, National Weather Service Locations: Pacific, Chicago, heatstroke

☆ The bounce in long-suffering solar stocks could be for real, according to the charts
▼ + stars: | 2024-06-03 | by ( Katie Stockton | ) www.cnbc.com time to read: +6 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: TAN, Katie Stockton Organizations: Fairlead, CNBC Pro, Securities Locations: TAN

☆ $9.2 billion fintech Navan appoints ex-NYSE exec as CFO ahead of anticipated IPO
▼ + stars: | 2024-06-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Navan has hired a former New York Stock Exchange executive as its new chief financial officer, ahead of the anticipated IPO of the $9.2 billion travel and expense management platform. Amy Butte, who was NYSE's CFO between 2004 and 2006, will join Navan as its new CFO in June. Founded by entrepreneur Ariel Cohen, Navan is a platform that helps employees at companies big and small to manage their expenses and travel bookings. Last month, Cohen, Navan's CEO, told CNBC the firm is "not far" from an IPO, adding that the company expects to hit profitability this year. Navan was named as a CNBC Disruptor 50 company in May.

Persons: Amy Butte, Butte's, Ariel Cohen, Cohen Organizations: Navan, New York Stock Exchange, SAP, American Express, CNBC Locations: Navan

☆ Here's everything you need to know about Big Tech's AI models and tools but were too afraid to ask
▼ + stars: | 2024-06-02 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +8 min

The in-house AI model called MAI-1 is said to be trained using a public dataset and text from ChatGPT, a source told The Information. AdvertisementThe company has a text-to-image generator called Microsoft Designer, which launched last year after being tested in December 2022. MetaMeta has an AI assistant called Meta AI. NurPhoto/Getty ImagesMeta has an AI assistant called Meta AI, which is run on its open-source LLM, Llama. It also has an AI image generator called Imagine, which launched in December and was trained on public Facebook and Instagram photos.

Persons: —, Microsft, OpenAI, it's, Mustafa Suleyman, Shane Jones, VASA, Satya Nadella, OpenAI OpenAI, Sundar Pichai, OpenAI might've, Scarlett Johansson, OpenAI's chatbot, Sam Altman, Meta Meta Organizations: Service, Microsoft, Google, Apple, Business, Microsoft Microsoft, Microsft Microsoft, Federal Trade Commission, MAI, Lumiere Meta, Google Google, Meta, Facebook, Titan, Anadolu Amazon's, Olympus, Web Services, Amazon Locations: ChatGPT, Anthropic

☆ Tesla investor accuses Elon Musk of insider trading that banked him $7.5 billion
▼ + stars: | 2024-06-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewA Tesla investor accused Elon Musk of using insider information on his company to sell $7.5 billion worth of Tesla stock in 2022, according to a lawsuit filed Thursday in Delaware Chancery Court. "Musk's insider profits for his November and December sales were approximately $3 billion based on the January 3, 2023 closing price of $108.10 per share," the lawsuit alleged. AdvertisementPerry also accused Musk of misleading shareholders about what to expect in the fourth quarter of that year in an October 2022 earnings call. "So, Q4 is looking extremely good," Musk said in the call, according to a transcript published by The Motley Fool. AdvertisementMcCormick's ruling has caused Musk to sour on Delaware and has been pitching a move for Tesla to be incorporated in Texas.

Persons: —, Elon Musk, Michael Perry, Tesla, Perry, Musk, Larry Ellison, Ellison, James Park, Kathaleen McCormick, McCormick Organizations: Service, Business, Oracle, New York Times, University of California, Investors Locations: Delaware Chancery, Los Angeles, Delaware, Texas

☆ Top proxy advisor ISS recommends against Elon Musk's $56 billion Tesla pay package
▼ + stars: | 2024-05-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Taylor Hill | Getty ImagesTop proxy advisor Institutional Shareholder Services on Friday recommended Tesla shareholders vote against the re-approval of CEO Elon Musk's $56 billion pay package and withhold their support from the re-election of News Corp . Tesla's shareholder meeting is on June 13. Tesla's board is seeking shareholder approval to reinstate Musk's pay after a Delaware court voided the package earlier this year. The proxy advisor recommended support for some shareholder proposals that Tesla management opposes, including one that would declassify Tesla's board. Pay package pushTesla has been courting shareholder support in both time-tested and novel ways.

Persons: Elon Musk, Elon Musk's, James Murdoch, Glass Lewis, Tesla, Innisfree, Robyn Denholm, Leo KoGuan, KoGuan, Go Nakamura Organizations: Academy Museum of Motion Pictures, Getty, Services, News Corp, CNBC, ISS, FGS Global Locations: Los Angeles , California, Taylor, Delaware, Texas, Austin, Austin , Texas, U.S

☆ Advisory firms urge Tesla shareholders to reject Elon Musk’s ‘excessive’ pay package
▼ + stars: | 2024-05-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —Two influential advisory firms have urged shareholders to vote against Elon Musk’s contentious $51 billion pay package and raised concerns about the CEO’s numerous side projects. On Friday, Institutional Shareholder Services called the package “excessive” and noted that shareholder concerns “have not been sufficiently mitigated” since the package was first approved in 2018. The move to Texas, where Musk also operates SpaceX, was proposed shortly after a Delaware Chancery Court judge sided with Tesla shareholders who challenged the legality of the 2018 pay package. Those shareholders also argued that the directors on Tesla’s board were not truly independent and were too close to Musk to protect shareholders’ interests. The board is putting the same 2018 package up for a revote at Tesla’s annual shareholder meeting on June 13.

Persons: “, — “, Glass Lewis, Tesla, Musk Organizations: New, New York CNN, Elon, Services, Twitter, SpaceX Locations: New York, Texas, Delaware

☆ OpenAI board members brush off warning from ex-directors and defend Sam Altman as 'highly forthcoming'
▼ + stars: | 2024-05-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewThis has been the week of dueling op-eds from former and current OpenAI board members. Current OpenAI board members Bret Taylor and Larry Summers issued a response to AI safety concerns on Thursday, stating that "the board is taking commensurate steps to ensure safety and security." In the last six months, the two current board members said they had found Altman "highly forthcoming on all relevant issues and consistently collegial with his management team." She also said that the old OpenAI board found out about ChatGPT's release on Twitter. OpenAI dissolved the superalignment safety team before later announcing the formation of a new safety committee.

Persons: —, Bret Taylor, Larry Summers, Helen Toner, Tasha McCauley, Sam Altman, Taylor, Summers, Altman, OpenAI, WilmerHale, Toner, Openai, he's, Jan Leike, Ilya Sutskever, Gretchen Krueger, Leike, Krueger Organizations: Service, Business, Twitter, World, Summit

☆ Gaby Hoffmann on Her Movies & TV Shows: 'Now and Then,' 'Field of Dreams,' 'Eric'
▼ + stars: | 2024-05-30 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +11 min

But I was really a kid when I wasn't on set," Hoffmann tells Business Insider. To have a partner in crime, saying, 'We don't really know what we're doing. On the paternal energy on the 'Field of Dreams' set and working with child actors as an adultHoffmann played Kevin Costner's daughter in "Field of Dreams." Christina and I met and we became really, really, really close. And after a decade of feeling like I didn't know what the hell I was doing, that was such a profound relief.

Persons: Gaby Hoffmann, —, Hoffmann, Warhol, Viva, Anthony Herrera, Kevin Costner's, Uncle Buck, Macaulay Culkin, Michael Cera, Adam Driver's, Lena Dunham's, Eric, Vincent, Benedict Cumberbatch, Cassie, Edgar disappears, Eric whom he's, Edgar, Cumberbatch, Ray Liotta, Christina Ricci, Ivan Morris Howe, Ivan —, isn't, they're, Ivan, Benedict, Ray, Amy Madigan, Kevin Costner, We'll, Ashleigh Aston Moore, Thora Birch, You've, Christina, Lesli Linka Glatter, Demi Moore, you've, I, I've, I'd, Sebastián Silva Organizations: Chelsea Hotel, Business, Sundance, Lena Dunham's HBO, Netflix, Hollywood, New York Times Locations: Hollywood

☆ False right-wing reports about Trump trial jury instructions fuel threats against judge
▼ + stars: | 2024-05-30 | by ( Ryan J. Reilly | ) www.cnbc.com time to read: +4 min

False reports about the jury instructions in former President Donald Trump's hush money trial have been spreading across right-wing media, leading to threats against the judge overseeing the case. Those "unlawful means" aren't charges themselves and would not result in separate convictions, so jurors do not have to unanimously agree on them. The jury instruction was complex and nuanced and some right-wing accounts ran with false reports. On X, after a right-wing influencer asked followers who among them wanted to see Merchan locked up for treason. In August, Trump supporters posted the names and addresses of the Fulton County grand jurors who indicted Trump and 18 of his co-defendants.

Persons: Juan Merchan, Donald Trump's, Stormy Daniels, Donald, Trump, That's, Merchan, influencer, Alice, Wonderland, Rickey Walter Shiffer, Trump's, Joe Biden, General Merrick Garland, Biden Organizations: Republican, Fox News, Federal, System, Democratic Socialist Elites, Fox, Trump, FBI Locations: Manhattan, New York City, U.S, Fulton, Cincinnati

☆ New York Mets look to shift off-field narrative with new content deal
▼ + stars: | 2024-05-30 | by ( Ian Thomas | ) www.cnbc.com time to read: +5 min

Mr. Met poses before the game between the Chicago Cubs and the New York Mets at Citi Field. To that end, the Mets will be working on development, production and distribution with Range Sports, a division of entertainment management firm Range Media Partners. Mets owner and hedge fund manager Steve Cohen is a minority investor in Range through his Point72 Ventures fund. The Mets will be focused on a variety of content, Havens said, from players talking about fashion or what they do in the offseason to storytelling around the culture of Mets fans. "That opens up a bunch of new opportunities to engage Mets fans and non-Mets fans," Havens said.

Persons: it's, Steve Cohen, John Malone's Liberty, David Bonderman, Scott Havens, Havens, Pete Alonso, Jorge Lopez, Will Funk, Greg Luckman, Bradley Cooper, Jack Harlow, Brock Purdy, LIV, WWE's, Cohen Organizations: Chicago Cubs, New York Mets, Citi Field, The New York Mets, Major League Baseball, NBA, NFL, Mets, Sports, Range Media Partners, Point72 Ventures, John, John Malone's Liberty Global, TPG, Business, Bloomberg Media, San Francisco 49ers, CW, LIV Golf, ACC football, WWE's NXT Locations: Queens , New York

☆ Disney's Bob Iger may be celebrating today after Nelson Peltz's latest move
▼ + stars: | 2024-05-30 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

Billionaire Nelson Peltz is no longer an investor in Disney. Peltz fought a pricey proxy battle with Disney CEO Bob Iger over its board but lost. He's now sold all his Disney shares, which marks the likely end of the power struggle. AdvertisementBillionaire hedge fund founder Nelson Peltz has sold his stake in The Walt Disney Company after losing a pricey proxy battle with CEO Bob Iger. Peltz, the activist investor who founded Trian Partners, once controlled about $3.5 billion in Disney stock.

Persons: Nelson Peltz, Peltz, Bob Iger, He's, —, Jay Rasulo Organizations: Disney, Service, Billionaire, Walt Disney Company, Trian Partners, The New York Times, Business

☆ Stocks making the biggest moves after hours: Salesforce, UiPath, Capri, Pure Storage and more
▼ + stars: | 2024-05-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Okta's second-quarter revenue guidance range of $631 million to $633 million also beat the consensus estimate for $616 million, according to LSEG data. Capri reported adjusted earnings of 42 cents a share, while analysts had estimated 65 cents, according to LSEG. American Eagle Outfitters reported $1.14 billion in revenue, lower than the average analyst estimate of $1.15 billion, according to LSEG data. Earnings beat estimates, but full-year revenue guidance was in a range of 2% to 4%, compared to forecasts for 3.4%. Revenue guidance was also pulled back to between $6.42 billion and $6.50 billion, compared to prior guidance in a range of $6.71 billion to $6.81 billion.

Persons: Rob Enslin, Daniel Dines, LSEG, Okta's, Versace, Jimmy Choo, Agilent, —, Darla Mercado Organizations: HP Inc, HP, Capri, Management, American Eagle Outfitters, Technologies Locations: New York City, LSEG, Asia, FactSet

☆ Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leader
▼ + stars: | 2024-05-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A Goldman Sachs executive and finance industry veteran will take over as the new president of the Cleveland Federal Reserve. The central bank district announced Wednesday that Beth M. Hammack, 52, will take over when Loretta Mester steps down June 30. In the interim, Cleveland Fed First Vice President Mark S. Meder will serve as the president. As the Fed contemplates its next moves with monetary policy, the Cleveland president plays an important role this year as a voter on the rate-setting Federal Open Market Committee. Hammack comes to the Cleveland Fed after serving with Goldman Sachs since 1993 in multiple roles, having been a partner since 2010 after being named managing director in 2003.

Persons: Goldman Sachs, Beth M, Loretta Mester, Hammack, Mark S, Beth, Heidi Gartland Organizations: Cleveland Federal Reserve, Cleveland Fed, Fourth, Cleveland, Market, Stanford University, University Hospitals

☆ For some millennials, the reality of their retirement plans is that they're a fantasy
▼ + stars: | 2024-05-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The documentary chronicles the rise and fall of the movie-ticket-subscription company MoviePass, and is based on award-winning reporting from Business Insider . The big storyRetirement mathGetty Images;Alyssa Powell/BIFor some millennials, the reality of their retirement plans is that they're a fantasy. AdvertisementIt's not the first time we've gotten troubling data about millennials' retirement plans. But it's not just a lack of savings working against millennials' plans of riding off into the retirement sunset. AdvertisementAnd if you're hoping for a Hail Mary in the form of a fat inheritance to jumpstart your retirement plans, that's not looking great either.

Persons: —, MovieCrash, Alyssa Powell, Jacob Zinkula, William Edwards, we've, it's, millennials, Hail Mary, that's, Juliana Kaplan, It's, Johannes Simon, Neel Kashkari, Sam Altman, Justin Sullivan, Oliver Mulherin, Scarlett Johansson, Altman, Jensen Huang, Adam Neumann, Neumann, WeWork, Moviegoing, there's, BI's Peter Kafka, Sheryl Sandberg, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Max, Business, Hail, Reserve Survey, Consumer, Wall, Minneapolis, UBS, Google, Nvidia, BI, Hollywood, HP Locations: Swiss, BI Denmark, New York, London

☆ OpenAI's board learned about ChatGPT's release on Twitter, ex-board member says
▼ + stars: | 2024-05-29 | by ( Sarah Jackson | Jyoti Mann | ) www.businessinsider.com time to read: +1 min

OpenAI's board was as surprised as the public was by ChatGPT's 2022 release, a former member says. Helen Toner said the board "was not informed in advance" and actually learned about it on Twitter. AdvertisementThe release of ChatGPT took the world by surprise in 2022 — and a former OpenAI board member says that was the case for the company's board of directors, too. On November 30, 2022, OpenAI CEO Sam Altman tweeted a link to the chatbot, writing: "today we launched ChatGPT. But Helen Toner said the board wasn't given a heads-up about the release and learned about it from Twitter, now X.

Persons: Helen Toner, Sam Altman, —, ChatGPT Organizations: Twitter, Service, Business

☆ Activist Investor Nelson Peltz Is Said to Sell His Disney Stake
▼ + stars: | 2024-05-29 | by ( Lauren Hirsch | More About Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Nearly two months after losing an epic corporate battle to get on the board of the Walt Disney Company, Nelson Peltz is no longer an investor in the entertainment company. Mr. Peltz, the billionaire head of the hedge fund Trian Fund Management, controlled about $3.5 billion in Disney stock, a vast majority of it owned by Ike Perlmutter, a former chairman of Marvel Entertainment. Mr. Peltz has now sold his portion of those shares, a person familiar with the investment said, requesting anonymity to discuss confidential matters. By selling his shares, Mr. Peltz is seemingly removing a thorn in Disney’s side. Mr. Peltz, an activist investor, began criticizing Disney’s management under Robert A. Iger, the chief executive, early last year, pointing to the company’s streaming strategy, lagging stock price and succession planning.

Persons: Nelson Peltz, Peltz, Ike Perlmutter, Robert A, Trian Organizations: Walt Disney Company, Fund Management, Disney, Marvel Entertainment

☆ Vivek Ramaswamy is waging an expensive trolling campaign on BuzzFeed
▼ + stars: | 2024-05-29 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

In a letter to BuzzFeed’s board, a copy of which Ramaswamy posted online, the MAGA hardliner and former Republican presidential candidate recommended laying off large swaths of the company’s existing staff. He encouraged BuzzFeed’s board to transform the outlet into a creator-driven platform, suggesting it hire personalities akin to fellow radicals Candace Owens and Tucker Carlson. “Address your audience directly and candidly admit: We failed in our obligation to tell you the truth,” Ramaswamy encouraged BuzzFeed. But it was apparent that he does not view the right-wing entrepreneur’s ideas for the future of BuzzFeed as compelling. “I’m very skeptical it makes business sense to turn BuzzFeed into a creator platform for inflammatory political pundits.

Persons: Vivek Ramaswamy —, —, Ramaswamy, MAGA hardliner, BuzzFeed’s, Candace Owens, Tucker Carlson, BuzzFeed, Donald Trump, ” Ramaswamy, Jonah Peretti, MAGA, ” Jeffrey A Sonnenfeld, “, Vivek, Vivek Ramaswamy, Peretti, ” Peretti, ”, Sonnenfeld Organizations: New York CNN, Republican, “, Yale School of Management, Facebook, Huffington Locations: New York, Covid, BuzzFeed

☆ BuzzFeed Clashes With Vivek Ramaswamy
▼ + stars: | 2024-05-28 | by ( Benjamin Mullin | ) www.nytimes.com time to read: 1 min

BuzzFeed’s newest activist investor, the former Republican presidential candidate Vivek Ramaswamy, wants the company to consider moves like hiring the former Fox News host Tucker Carlson and the N.B.A. Jonah Peretti, BuzzFeed’s founder and chief executive, has already rejected some of Mr. Ramaswamy’s requests out of hand, setting up a clash between the two men. Mr. Ramaswamy, an investor who has amassed an 8.3 percent stake in BuzzFeed, sent a letter to the company’s board of directors Monday criticizing its business practices and journalistic efforts. Though he has been steadily buying up stock for months, his intentions for the company didn’t become clear until this week. Before his brief run for president, Mr. Ramaswamy made a fortune in the pharmaceutical business, selling his company’s stake in promising firms to the Japanese conglomerate Sumitomo.

Persons: Vivek Ramaswamy, Tucker Carlson, Charles Barkley, Jonah Peretti, BuzzFeed’s, Ramaswamy’s, Ramaswamy Organizations: Republican, Fox News, Sumitomo Locations: BuzzFeed

☆ Adam Neumann Gives Up on Buying Back WeWork
▼ + stars: | 2024-05-28 | by ( Bernhard Warner | More About Bernhard Warner | ) www.nytimes.com time to read: +1 min

Adam Neumann has officially admitted defeat in his quest to buy back WeWork, ending his bid to acquire the co-working company that he helped found in 2010 and built into a global enterprise valued at $47 billion before it fell into bankruptcy last year. “For several months, we tried to work constructively with WeWork to create a strategy that would allow it to thrive,” Mr. Neumann said in a statement to the DealBook newsletter. Mr. Neumann stepped down as WeWork’s chief executive in 2019 under pressure from directors and investors, after the company failed to go public amid questions about its business model and corporate governance. It marked a stunning fall for Mr. Neumann, the company’s charismatic frontman. But in February, DealBook reported that Mr. Neumann was planning an audacious move to buy back the company.

Persons: Adam Neumann, WeWork, Mr, Neumann, DealBook Organizations: Mr

☆ OpenAI sets up safety and security committee and starts training 'next frontier model'
▼ + stars: | 2024-05-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

OpenAI has set up a new safety committee to advise the board on critical decisions. Sam Altman's company also said it had begun training a new flagship AI model. The move comes amid scrutiny over OpenAI's commitment to AI safety. AdvertisementOpenAI said it has set up a safety and security committee to make recommendations to the board on "critical safety and security decisions." The company also said it had begun training a new flagship AI model to succeed GPT-4.

Persons: OpenAI, Sam Altman's, —, Bret Taylor, Adam D'Angelo, Nicole Seligman, Sam Altman, GPT Organizations: Service

☆ OpenAI creates oversight team with Sam Altman on board, begins training new model
▼ + stars: | 2024-05-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

OpenAI on Tuesday said it created a Safety and Security Committee led by senior executives, after disbanding its previous oversight board in mid-May. The formation of a new oversight team comes after OpenAI dissolved a previous team that was focused on the long-term risks of AI. AI safety has been at the forefront of a larger debate, as the huge models that underpin applications like ChatGPT get more advanced. Bret Taylor, Adam D'Angelo, Nicole Seligman, who are all on OpenAI's board of directors, now sit on the new safety committee alongside Altman. Leike this month wrote that OpenAI's "safety culture and processes have taken a backseat to shiny products."

Persons: Sam Altman, OpenAI, Ilya Sutskever, Jan Leike, AGI, Bret Taylor, Adam D'Angelo, Nicole Seligman, Altman, CNBC's Hayden Field Organizations: Microsoft, Security Locations: Redmond , Washington

☆ Should Elon Musk be paid $56 billion? Tesla shareholders get to vote
▼ + stars: | 2024-05-27 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Several investors released a joint letter this month urging fellow shareholders to vote down the package as excessive. Tesla shareholders approved the pay package in 2018, with compensation tied to Tesla's performance including its market value. And he still has time to meet goals he hasn't reached, including on revenue, because the pay package had a 10-year term. In the 440-page proxy statement explaining the vote, a committee of the Tesla board noted the "novel circumstances." Some people began sharing screenshots of their votes in April, shortly after the Tesla board announced the vote, and the deadline to vote online is June 12.

Persons: Elon Musk, The Beverly Hilton, Tesla, James Park, Musk, He's, Judge Kathaleen McCormick, McCormick, Nadya Malenko, hasn't, Ann Lipton, Lipton, — I'm, Musk's, there's, —, Rowe Price, didn't, Brad Lander Organizations: SpaceX, Tesla, The Beverly, Wall Street, University of California, CNBC, Bloomberg, Reuters, Boston College's, Tulane University, Disney, New York, Amalgamated Bank . Locations: Beverly Hills , California, U.S, Delaware, Austin , Texas, —, Los Angeles, Texas, New York City

☆ Netflix chief doesn't think AI programs are going to replace writers, actors, and directors
▼ + stars: | 2024-05-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMovie creatives and actors aren't going to lose their jobs to an AI program just yet, says Netflix co-CEO Ted Sarandos, 59. For several decades, the studios wouldn't license movies to television," Sarandos told The Times. Representatives for Netflix didn't immediately respond to a request for comment from BI sent outside regular business hours. AdvertisementMembers for both groups believed that cost-conscious studios could use AI to supplant writers and actors in their productions.

Persons: —, aren't, Ted Sarandos, Sarandos, Reed Hastings, Hastings, Greg Peters, Netflix didn't, AFTRA, OpenAI, Tyler Perry, Sora Organizations: Service, Netflix, New York Times, Business, Times, BI, Hollywood, Writers Guild of America, WGA, SAG

☆ How a global seafood giant broke Red Lobster
▼ + stars: | 2024-05-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +15 min

Former Red Lobster employees say that while the pandemic, inflation and rent costs impacted Red Lobster, Thai Union’s ineptitude was the pivotal factor in Red Lobster’s decline. Kenny criticized Red Lobster employees at meetings and made derogatory comments about them, according to former Red Lobster leaders who worked closely with Kenny. Red Lobster’s annual customer count has dropped by 30% since 2019, Red Lobster said in its bankruptcy filing. Red Lobster employees say they were pressured by Thai Union representatives to buy more seafood from Thai Union. Thai Union representatives also began sitting in on meetings between Red Lobster and seafood suppliers, said one of the former Red Lobster employees who witnessed these conversations.

Persons: “, Ludovic Garnier, Jorge Silva, Red Lobster’s, ”, Les Foreman, Red, Thiraphong Chansiri, Angel, Feng shui, Chansiri, Amanda Mustard, Paul Kenny, Kenny, ’, Kenny’s, Bill Darden, General Mills, Darden, Kelli Valade, Valade, Trin, Tapanya, Kevin Lamarque, Barry Fulghum, Lobster, Leah Millis Organizations: New, New York CNN, Thai Union Group, Red, Lobster, Thai Union, CNN, Red Lobster, John West Foods, longtime, Reuters, Thai, West Coast, Lobster’s, Bloomberg, Getty, Minor, Thai Union —, Union, Darden, Gate, Golden, Capital, Facebook, Thai Union . Thai Union, ” Thai Union Locations: New York, Thai, Thailand, Thai Union, United States, Orlando, Australian, Dallas, America, United, Texas, Spring , Maryland

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