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☆ NYC mayor says his AI robocalls are so convincing that people are stopping him on the street to ask if he speaks Mandarin
▼ + stars: | 2023-10-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

NYC Mayor Eric Adams's office is using AI to clone his voice into languages like Mandarin for robocalls. People have even asked him if he speaks Mandarin, Adams said at a press conference on Monday. Since March 2022, Adams' office has reached over 4 million residents through these calls, a spokesperson for the mayor told Insider. Adams' office did not comment on the concern or specify how many languages the mayor speaks. AdvertisementAdvertisementNew York City also quietly rolled out AI surveillance technology at subway stations to track fare evaders earlier this year.

Persons: Eric Adams's, Adams, —, Eric Adams, it's, who's, they've, Annika Marlen Hinze, Caitlin Seeley George Organizations: Service, NYC Department of, Fordham University Locations: New York City, Haitian, New York, York City

☆ These money market funds have yields that top 5%
▼ + stars: | 2023-10-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

With yields at around 5%, money market funds have been attracting investors in droves — yet not all funds are the same. Right now, prime funds yield an average 5.18%, while the average government fund's yield is 4.98%, per iMoneyNet. The weighted average maturity of retail prime money market funds is around 32 days, said Shelly Antoniewicz, deputy chief economist at the Investment Company Institute. Correction: A table in an earlier version of this report incorrectly described the listed funds as government money market funds. They are prime money market funds.

Persons: Dave Lafferty, Deborah Cunningham, Shelly Antoniewicz, Hermes, Cunningham, Crane, Peter Crane Organizations: Crane Data, Schwab Asset Management, Federated Hermes, Investment Company Institute . Retail, Federal Reserve, ICI, Government, Fed

☆ AI is overhyped, Warren Buffett's right-hand man Charlie Munger says
▼ + stars: | 2023-10-10 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Berkshire Hathaway's vice chairman Charlie Munger is skeptical of the sudden hype around AI. AdvertisementAdvertisementWarren Buffett's right-hand man Charlie Munger is an AI skeptic and is not sold on the hype surrounding it, Fortune reported Friday . 99-year-old Munger, vice chairman of Berkshire Hathaway since 1978, spoke at Zoom's Zoomtopia conference on Thursday and said that AI is essentially overhyped. "I think it's getting a huge amount of hype," Munger said, per Fortune. Munger expressed similar sentiments about AI at his newspaper the Daily Journal's annual meeting earlier this year.

Persons: Charlie Munger, —, Warren Buffett's, Fortune, Munger, We've, we've, OpenAI, ChatGPT, It's, Buffett Organizations: Berkshire Hathaway's, Service, Berkshire Hathaway, Daily, Daily Journal, Berkshire

☆ I'm a 16-Year-Old Founder Who Raised $450K for My AI Startup
▼ + stars: | 2023-10-09 | by ( Ashley Couto | ) www.businessinsider.com time to read: +6 min

Pranjali Awasthi, 16, came up with her startup while interning in university research labs. Because of the pandemic, my high school had gone virtual, so I was able to intern for about 20 hours a week. In 2020, OpenAI released its ChatGPT-3 beta, and I knew we could use it to make extracting and summarizing research data easier. My parents told me I should take the opportunity – the network alone would be worth it, so I took an absence from high school. I wanted to get a GED, but we compromised on me finishing my high school credits online, which I completed in June 2023.

Persons: Pranjali Awasthi, —, OpenAI, Delv.AI, Lucy Guo, Dave Fontenot, I'd, Hunt, We've, We're, it's, I'm, I've Organizations: Service, Florida Internal University, Miami Locations: Florida, India, San Francisco, Miami, Deck

We are buying 50 shares of Starbucks (SBUX), at roughly $90 apiece. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 800 shares of SBUX, increasing its weighting in the portfolio to 2.62% from 2.46%. That's why we're adding to our position in Starbucks . One name we're warming to is Advanced Micro Devices (AMD), which we're adding to the Club's Bullpen . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, it's, we've, Nvidia, Goldman, Lisa Su, Su, Jim Cramer, Jim Organizations: Starbucks, SBUX, System, Devices, Broadcom, AMD, Goldman Sachs Communacopia Technology, CNBC Locations: Starbucks, China

The revolt by the players followed a kiss on the lips of player Jenni Hermoso by the country's football federation (RFEF) boss Luis Rubiales after Spain won the World Cup. She disputed his insistence the kiss was consensual, sparking a national debate about macho culture in the sport. Another source close to four other players told Reuters they were seeking legal advice to decide whether to report to the squad on Tuesday, afraid of the threat of punishment. "They come from being world champions, they love the profession and I know they will be here with us tomorrow." An original group of 81 players had called the boycott in the wake of the furore over Rubiales' kiss.

Persons: Montse Tome, Jenni Hermoso, Luis Rubiales, Hermoso, Mapi Leon, Patri Guijarro, Jorge Vilda, Tome, Jenni, Fernando Kallas, Emma Pinedo, David Latona, Andrei Khalip, Charlie Devereux, Philippa Fletcher, Ken Ferris Organizations: Players, Spain, Reuters, Sports, Sweden, UEFA Nations League, Thomson Locations: Spain, Sweden, Switzerland

☆ Pirates look make it 3 straight vs. Nationals
▼ + stars: | 2023-09-14 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

September 14 - The Pittsburgh Pirates will go for a series win while the visiting Washington Nationals look for a series split Thursday when the teams conclude a four-game set. Washington right-hander Josiah Gray (7-11, 4.13 ERA) is scheduled to start opposite Pittsburgh right-hander Mitch Keller (11-9, 4.23). Keller, who will be making his 100th big-league appearance, has had an uneven second half for the Pirates (68-78). "I'm trying to build off last year's innings," Keller said. Against the Nationals, Keller is 0-1 with a 10.57 ERA in two career starts, both last year.

Persons: Jackson Rutledge, Josiah Gray, Mitch Keller, Keller, he's, Derek Shelton, Shelton, Gray, Luis Arraez, Jacob Young, Gray fumed, Young, I've Organizations: Pittsburgh Pirates, Washington Nationals, Washington, Pittsburgh, Nationals, Pirates, Atlanta, Miami Marlins, Marlins, Thomson Locations: Washington, Pittsburgh

☆ How Kia pulled off a massive turnaround in the U.S.
▼ + stars: | 2023-08-31 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

When the automaker arrived in the U.S. in 1994, its cars were poorly reviewed, and it was seen mostly as a low-cost value brand. Now, Kia is winning awards and commanding higher markups than its peers. U.S. sales have gone from about 12,000 units in 1994 to almost 700,000 units in 2022. "We had a record in 2022," said Steve Center, chief operating officer of Kia America, adding that the first half of 2023 brought another sales record. But Kia believes it can take on electric as well as it took on internal combustion.

Persons: Kia, Steve Center, I've, Ivan Drury, Edmunds, We've, we'll Organizations: Kia America, ICS, BMW, Audi, U.S ., EV Locations: Korean, U.S, .

☆ Billionaire CEOs said working from home made them happier. Some now want to fire workers who don't show up to the office.
▼ + stars: | 2023-08-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.

Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California

☆ Stephen King won't forbid AI from training on his writing, and he's not afraid of AI ... yet
▼ + stars: | 2023-08-26 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

King said that he's not opposed to programmers using his works to teach AI about creativity. Thousands of other authors have objected to their work being used in AI without permission. Uploading the works of others to computers, or "state-of-the-art digital blenders" as he put it, can teach AI how to produce better art. AdvertisementAdvertisementKing said that forbidding programmers from using his to teach AI is essentially pointless. Or a Luddite trying to stop industrial progress by hammering a steam loom to pieces," King wrote.

Persons: Stephen King, King, he's, Margaret Atwood, James Patterson, Sam Altman, OpenAI, Mark Zuckerberg, Sundar Pichai, King Canute Organizations: The Atlantic, Morning, Authors, Apple

☆ Art therapy offers relief to Afghan women struggling with mental health
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +4 min

But she sank into depression since the Taliban closed tertiary institutions to women in December, requiring psychiatric treatment where she was recommended art therapy classes. But many women, particularly in urban areas, who gained opportunities in education and work during the 20-year presence of foreign troops and a Western-backed government are now struggling with a deep sense of despair and mental health challenges, Afghan women and mental health experts say. There are few reliable figures on mental health trends but anecdotally doctors and aid workers say more women are struggling with mental health in the wake of the orders restricting women's work and education. Not only did I make good friends here, I also receive art therapy," said a former university student at the class. Khushi said the art therapy gave her a respite from home and a little hope for the future.

Persons: Khushi, I'm, Charlotte Greenfield, Raju Gopalakrishnan Organizations: Health, Reuters, Thomson Locations: MAZAR, SHARIF, Afghanistan, Balkh province's, Islamic Emirate, Balkh's, Mazar

☆ CNBC Pro Talks: Warren Buffett disciple Guy Spier reveals how to invest right now
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: +1 min

Join CNBC's Tanvir Gill Wednesday as she quizzes renowned value investor Guy Spier on how to play the markets right now. Spier, who calls himself an "ardent disciple" of legendary investor Warren Buffett, manages the $350 million Aquamarine Fund. Spier closely follows Buffett's investing principles, and the Aquamarine Fund is inspired by the original 1950s Buffett Partnership era . That compares to the S & P 500 's 8.2%, the MSCI World 's 6.9%, and the FTSE 100 's 3.6%. Join CNBC Pro Talks on Wednesday, August 9, at 12 p.m. BST / 7 p.m. SGT / 7 a.m.

Persons: Tanvir Gill, Guy Spier, Spier, Warren Buffett Organizations: Aquamarine, Buffett, Bank of America, Micron Technology, Ferrari, Tech, Veteran, Dow Locations: U.S

☆ Forget the hype: Barclays identifies global 'A.I. winners' for the long term
▼ + stars: | 2023-07-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Barclays has named several global stocks that are expected to do well as the usage of artificial intelligence-related services evolves. The investment bank acknowledged that hardware and infrastructure giants, most notably Nvidia and Microsoft , are currently seeing the immediate benefits of the AI hype. Still, over the long term, it said businesses in the service sector could cash in significantly. The companies in Barclays' "Global AI Winners" basket include Canada-headquartered Telus and France's Capgemini . The below table highlights non-U.S. stocks in Barclays' basket of AI stocks.

Persons: FactSet, Emmanuel Cau, Capgemini, Goldman Sachs Organizations: Barclays, Nvidia, Microsoft, Telus, France's, Tech, Companies, Tokyo Electron, SoftBank Group, SAP, UK's Sage Group, ASM Locations: Canada, U.S, Taiwan, Tokyo, Europe, Amsterdam

☆ King apologises for Netherlands' historic role in slavery
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +2 min

[1/6] Dutch King Willem-Alexander speaks at an event to commemorate the anniversary of the abolition of slavery by the Netherlands, in Amsterdam, Netherlands, Saturday, July 1, 2023. The king apologised for the royal house's role in slavery and asked for forgiveness. Peter Dejong/Pool via REUTERSAMSTERDAM, July 1 (Reuters) - Dutch King Willem-Alexander on Saturday apologised for the Netherlands' historic involvement in slavery and the effects that it still has today. The apology comes amid a wider reconsideration of the Netherlands' colonial past, including involvement in both the Atlantic slave trade and slavery in its former Asian colonies. Willem-Alexander apologised in Indonesia in 2020 for "excessive violence" during Dutch colonial rule.

Persons: King Willem, Alexander, Peter Dejong, Keti, Willem, Mark Rutte, Rutte, Orange, Toby Sterling, Jason Neely, Louise Heavens Organizations: REUTERS, Dutch State, Royal House, Royal, Thomson Locations: Netherlands, Amsterdam, REUTERS AMSTERDAM, Caribbean, Amsterdam's, Indonesia, Dutch, East India

☆ Hedge funds piled into these A.I. stocks during the first quarter
▼ + stars: | 2023-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Securities filings released this week signaled that many hedge funds also appear to be catching the AI bug. Betting on AI heavyweights Alphabet popped up as one of the most common AI plays among big investors in the first quarter. Microsoft bet billions on AI capabilities, funneling another multibillion-dollar investment in January into ChatGPT maker OpenAI. Beyond Alphabet and Microsoft Outside heavyweight giants Alphabet and Microsoft, many hedge funds beefed up other AI-related holdings in the first quarter. His Nvidia bet equaled roughly $1.4 billion at the end of March.

WASHINGTON, May 4 (Reuters) - Philippines President Ferdinand Marcos Jr said on Thursday that granting U.S. access to Philippine military bases was a defensive step that would be "useful" if China attacked Taiwan. Marcos told Reuters the Enhanced Defense Cooperation Agreement (EDCA) reached with the United States in 2014 was originally conceived to improve disaster responses. Marcos said Washington "has not proposed any kind of action for the Philippines in terms of taking part in the defense of Taiwan." Biden said on Monday that the U.S. commitment to the defense of its ally was "ironclad," including in the South China Sea, and that the guidelines issued on Wednesday laid out treaty commitments if either side were attacked in the South China Sea. He said the patrols would help preserve freedom of navigation in the South China Sea, where China has a growing military presence.

☆ How The Legend of Zelda Changed the Game
▼ + stars: | 2023-05-04 | by ( Zachary Small | Rumsey Taylor | ) www.nytimes.com time to read: +17 min

More than six million people watched the preview for hints about the next video game in Nintendo’s beloved Legend of Zelda franchise. Tears of the Kingdom, the next entry in the Legend of Zelda franchise, will encourage players to manipulate and combine objects to fight enemies and explore Hyrule. The immersive gameplay of the Zelda franchise is bolstered by its deep mythology , convincing players they are unearthing ancient secrets. Retrieving the Master Sword often marks the point in a Zelda game when the difficulty spikes and the stakes are raised. Clockwise, from top left: The Legend of Zelda (1986), A Link to the Past (1991), Ocarina of Time (1998) and The Wind Waker (2002).

☆ This China ETF is a bullish bet with mitigated risk, options trader says
▼ + stars: | 2023-04-04 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

The iShares China Large-Cap ETF (FXI) could be a good bet for investors bullish on Beijing, according to Michael Khouw of Optimize Advisors. "I think this is sort of a risk-mitigated way to make a bullish bet if you're inclined to go that way," he said Tuesday on CNBC's "Fast Money." A call option gives the buyer the right but not the obligation to buy a security at a specified price and by a set date. A call spread strategy is a bet that an asset's price will rise within a specified range: An investor uses two call options, one with a lower strike price and one with a higher strike price, to create that range. The ETF has gained 3.4% this year, meaning it has underperformed the broader S & P 500 's 6.8% gain.

[1/5] Locals in the Chiradzulu district look at the damage on a road after mudslides and rockfalls in the area caused by the aftermath of Cyclone Freddy in Blantyre, Malawi, March 15, 2023. Most people heeded the warnings, knowing from bitter experience the damage such storms could inflict: 600 people had died in Cyclone Idai in 2019. The storm was far more deadly in neighbouring Malawi, where at least 447 were killed as Freddy tore through the country's southern tip and inundated the main commercial hub of Blantyre. Mozambique and Malawi are among the poorest 8% of countries in the world, according to United Nations data. In the case of Freddy, this extra energy allowed the storm to pick up strength again and circle back to strike again.

☆ Oakmark's Bill Nygren sees an opportunity in bank stocks amid sector turmoil
▼ + stars: | 2023-03-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Oakmark Select Fund's Bill Nygren said it is a good time to buy bank stocks, as attention shifts away from the failure of Silicon Valley Bank and toward financial names he believes are strong investments. "I think it's important for people to understand just how different SVB is or was compared to other bank stocks," Nygren said on CNBC's "Closing Bell." The fund manager said the tech-focused Silicon Valley Bank lacked a diversified source of depositors, almost all of them being uninsured, and also had a substantial investment in long-duration assets. The portfolio manager said that the bank stocks Oakmark owns trade at a multiple that is about six to eight times their earnings. It dropped by more than 12% on Monday after banking regulators seized Silicon Valley Bank and Signature Bank, the second- and third-largest bank failures , respectively, in U.S. history.

☆ As markets turn rocky, bond ETFs are giving stocks a run for their money
▼ + stars: | 2023-02-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

She inquired about buying Treasury bonds directly, which she has never once inquired about in the past. Asking about putting all your money into bonds and chucking the stock market is like the shoeshine boy talking about stock market tips at the top of the stock market. Individuals can of course buy Treasury bonds directly from the U.S. government through TreasuryDirect. Similar products, such as the Schwab Short-Term U.S. Treasury ETF and the SPDR Portfolio Short Term Treasury ETF, also have seen significant inflows in recent months. "ETFs for Treasurys are preferred by many, basically all because they trade like a stock," Morris told me.

☆ How big investors are playing the latest A.I. trend overtaking Wall Street
▼ + stars: | 2023-02-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

But not every company with AI in its title, or a stake in the race, may be worth investors' hard earned cash. Given these recent developments, many investors recommend staying long Microsoft, including Sid Choraria, a portfolio manager at SC Asia. Microsoft's AI developments and the reported blunder of Google's chatbot during a promotional video have fueled concerns in recent weeks that Alphabet may be losing the AI war . "Stay focused on Alphabet," he said, adding that more AI developments should create additional revenue opportunities. Integrating an AI tool into Alibaba's business and more AI content generation should improve efficiency and boost advertising effectiveness, he added.

☆ Factbox: Key ECB policymaker comments since Feb rate hike
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +4 min

By smoothing our policy rate hikes – that is, moving in small steps – we can ensure that we calibrate (policy) more precisely. Boris Vujcic, Croatian central bank governor, Feb. 10"I would agree that we are likely to see more rate action beyond March." Joachim Nagel, German central bank chief, Feb. 7"From where I stand today we need further, significant rate hikes." Pierre Wunsch, Belgian central bank chief, Feb. 3"I don’t think we're going to move from 50 basis points (in March) to zero. Gediminas Simkus, Lithuanian central bank chief, Feb. 3"The March rate hike is not the last one.

☆ Huawei turns to patents for a lifeline — including those in the U.S.
▼ + stars: | 2023-02-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2022, Huawei announced it signed more than 20 new or extended licensing agreements for its patents. But the sheer number of patents filed meant Huawei ranked fourth last year by the number of patent grants in the U.S., IFI said. For Huawei, licensing its patents to other companies has the potential to claw back a bit of that revenue. Huawei did not break down specific figures, and only said it met its intellectual property revenue expectations for 2021. "I don't think they had a choice in terms of sort of boosting their licensing revenue."

The party-line vote on Tuesday aims to do just that, setting up a "Select Subcommittee on the Weaponization of the Federal Government." The body is set to launch a wide-ranging probe of Democrat Biden's administration, which Republicans accuse of "weaponizing" the FBI against Trump. Among the federal agencies targeted are those looking into Trump's attempt to overturn his 2020 defeat and alleged mishandling of classified documents. On Monday the White House said that lawyers for Biden found classified documents at a Washington think tank affiliated with the president. That would create a situation where he could seek to oversee a federal investigation into himself.

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