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☆ What Wall Street bosses from Goldman Sachs to JPMorgan are saying about the jobs outlook for 2024 in investment banking, wealth management, and more
▼ + stars: | 2024-01-16 | by ( Emmalyse Brownstein | Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +11 min

Last year, banks opened 2023 by forecasting layoffs, including for the investment bankers who suddenly had nothing to do following the pandemic-era M&A and IPO boom. Citigroup kicked off 2024 ominously, warning that it will lay off as many as 20,000 employees by 2026. The bank expects 2024 expenses to increase further to total $90 billion, up $2.8 billion from 2023, and much of that will be focused on hiring. CFO Barnum on Friday said the bank is gearing up for a "rebound in the investment banking wallet." Headcount declined 3% to 80,006 from 82,427, while compensation expenses rose to $24.5 billion from $23 billion.

Persons: It's, it's, Jane Fraser, Jeremy Barnum, JPMorgan Chase Jamie Dimon, JPMorgan Chase, Alex Wroblewski, JPMorgan's headcount, Barnum, Friday, Patrick T, Fallon, —, Fraser, Q, Goldman Sachs Goldman Sachs, David Solomon, BRENDAN MCDERMID, Goldman Sachs, Denis Coleman, Coleman, Goldman, Bank of America Brian Moynihan, Robert Galbraith, headcount, BofA, Alastair Borthwick, execs, they've, Brian Moynihan, Wells Fargo Charles Scharf, Lucy Nicholson Wells Fargo, Michael Santomassimo, Charlie Scharf, Santomassimo, BlackRock Larry Fink, Fink, Kapito, Morgan Stanley Ted Pick, Morgan Stanley, Jeenah, Headcount, Morgan, Ted Pick, Sharon Yeshaya, Blackstone Steven Schwarzman, Blackstone, Gonzalo Fuentes Organizations: Business, Citigroup, JPMorgan, Citi, BlackRock, Blackstone, Getty, AlphaSense, Citigroup Citigroup, Bank of America, REUTERS, Robert, Robert Galbraith Bank of America's, Reuters, AP BlackRock, Global Infrastructure Partners Locations: Wall, headcount, Wells Fargo

☆ Opinion: Trump bests DeSantis and Haley. How their backers see his Iowa win
▼ + stars: | 2024-01-16 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +8 min

That explains why Trump got about half of all the Republican votes in Iowa, leaving DeSantis far behind. That should tell you a lot about Iowa voters, but enough of them also voted for DeSantis and Haley. When I spoke to the Haley campaign early Monday morning, before the Iowa caucuses had begun, they said they were shifting toward Trump, seemingly writing DeSantis off as their closest threat. DeSantis himself said last week that his finish in Iowa could “upend” Trump’s lead in the GOP primary. Join us on Twitter and FacebookAnd as one DeSantis campaign committee member said, “a close second would be a successful outcome,” and “third place is not good.”Needless to say, DeSantis did not win.

Persons: Donald Trump’s, Ron DeSantis, Patrick T, Brown, Donald Trump, Michael Brendan Dougherty, Christopher Rufo, DeSantis didn’t, I’d, Elon Musk, Semafor’s David Weigel, dinging Trump, It’s, Trump, Nikki Haley, Haley, George W, she’s, Nikki Haley wasn’t, They’re, Ron DeSantis ’, MAGA, Joe Biden’s, ”, She’ll, DeSantis, Kim Reynolds, “, it’s Haley Organizations: CNN, Florida Gov, Republican, Manhattan Institute, Twitter, Elon, Trump, Republican Party, Public Policy Center, South Carolina Gov, Iowa Republicans, Iowa, DeSantis, Iowa Caucus, Iowa Gov, GOP, Facebook, New Hampshire Locations: Iowa, Florida, America, New Hampshire, Washington ,, New

☆ Supreme Court steps into a minefield
▼ + stars: | 2024-01-07 | by ( Richard Galant | ) edition.cnn.com time to read: +15 min

“First in war — first in peace — and first in the hearts of his countrymen,” Lee wrote of Washington. Joe Biden is 81, the oldest president ever and one who is struggling with John Adams-level unpopularity. On Friday afternoon the US Supreme Court announced it would hear arguments on the case February 8. Trump responded by accusing Biden of “pathetic fearmongering.”It’s been three years since Trump supporters stormed the Capitol on January 6. The name came from a letter Gordon sent to a friend explaining “how she, as a 350-pound woman, would like to be addressed.”“Just say fat,” Gordon reads from her essay in the film.

Persons: George Washington, Henry “, Harry ” Lee, “, —, ” Lee, ”, John Adams, Adams, Joe Biden, Clay Jones, Donald Trump, George W, Bush, Biden, Trump, ” It’s, Harry Dunn, ” Dunn, Black, Cupp, won’t, Trump Lisa Benson, Nikki Haley, Ron DeSantis, Mary, DeSantis, Patrick T, Brown, “ Haley, Julian Zelizer, ” Zelizer, John Avlon, ” David Horsey, Laura Belin, Haley, Iowa David Mark, Rob Davidson, Peter Bergen, Archduke Franz Ferdinand, Frida Ghitis, Benjamin Netanyahu “, ‘ We’re, ’, Netanyahu, Israel, ” Claudine Gay, Bill Bramhall, Claudine Gay, Jeremi Suri, Gay, ” Suri, Nick Anderson, OpenAI, Seán O’Connor, Mona Lisa ” —, O’Connor, ” “, ” Don’t, Dean Obeidallah, Dave Chappelle, J, Barber, Will Leitch, Sophia A, Nelson, Hollywood William Wallace, Tess Taylor, Jill Filipovic, Keir Giles, Aubrey Gordon, Sara Stewart, Gordon, Jeanie Finlay, ” Gordon, incredulously, ” Stewart Organizations: CNN, Washington, Supreme Court, Continental Army, Trump, Capitol, Capitol Police, Police, Biden, Republicans, New, GOP, Florida Gov, Twitter, Agency, ISIS, Hamas, New York Times, University of Texas, Ivy League, “, Harvard, MIT, University of Pennsylvania, Tribune, Microsoft Corp, West Locations: Washington, Florida, Valley Forge , Pennsylvania, Maryland, Iowa, New Hampshire, America, Beirut, Israel, Lebanese, Iran, Red, Sarajevo, Bergen, Gaza, Austin, Tokyo, Hollywood

SpaceX has said it employed more than 1,800 people at Starbase, jobs that supported thousands of others, and that it was proud to be an active part of the community. It didn’t respond to requests for comment. Workers prepare the SpaceX Starship ahead of a launch on April 18, 2023. Photo: Patrick T. Fallon/AFP/Getty

Persons: Patrick T, Fallon Organizations: SpaceX, Workers, Getty Locations: Starbase, AFP

☆ SEC, FASB Take Closer Look at Companies’ Statement of Cash Flows
▼ + stars: | 2023-12-04 | by ( Mark Maurer | ) www.wsj.com time to read: +1 min

Supermarket chain Sprouts Farmers Market is among the U.S. companies that made a revision to their cash-flow statements this year. Photo: Patrick T. Fallon/Bloomberg NewsU.S. regulators and standard setters are taking a closer look at cash-flow statements, particularly how such corporate disclosures may lag behind other financial statements in terms of usefulness for investors and the quality of the information that companies provide. The cash-flow statement helps investors figure out where a company is getting its money, how it is using it and if it has enough runway to operate and even survive. The Securities and Exchange Commission is reviewing how companies treat errors in these statements. In an unrelated move, the Financial Accounting Standards Board, which sets accounting rules for U.S. companies, is considering whether to require expanded disclosure on the cash-flow statement for financial institutions.

Persons: Patrick T Organizations: Fallon, Bloomberg News U.S, Securities, Exchange Commission, Board

☆ AT&T Drops Nokia for Ericsson in $14 Billion Deal
▼ + stars: | 2023-12-04 | by ( Drew Fitzgerald | ) www.wsj.com time to read: 1 min

AT&T said its shift to Ericsson will fast-track its network overhaul and allow it to buy hardware and software from a broader range of suppliers in future years. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesAT&T struck a deal with Ericsson to buy up to $14 billion of its hardware and services after the Swedish equipment supplier pledged to open up its software to competing systems. The five-year agreement would move virtually all of AT&T’s new purchases of certain cell-tower equipment to Ericsson, replacing existing machinery from Finnish rival Nokia in many markets. The Dallas-based telecom giant said it plans to start the swap next year and aims to have 70% of its wireless network traffic passing through open platforms by late 2026.

Persons: patrick Organizations: Ericsson, fallon, Agence France, Getty, Nokia Locations: Swedish, Dallas

☆ The Race to Save Ketchup: Building a Tomato for a Hotter World
▼ + stars: | 2023-12-03 | by ( Patrick Thomas | Photographs Max Whittaker For The Wall Street Journal | ) www.wsj.com time to read: 1 min

In the heart of one of the world’s top vegetable-growing regions in California, scientists are on a mission to save ketchup. Plant breeders at the Woodland, Calif., facility of German pharmaceutical and agriculture giant Bayer are testing whether tomatoes meant for processing into pizza sauces and ketchup can survive on a fraction of their traditional water needs, without sacrificing taste or juiciness.

Locations: California, Calif

☆ Opinion: Taylor Swift has it. Elon Musk and George Santos don’t
▼ + stars: | 2023-12-03 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

Exit George SantosVideo Ad Feedback SE Cupp: Trump didn't pave the way for George Santos. In the week that Americans said goodbye to Rosalynn Carter, Henry Kissinger and Sandra Day O’Connor, it was jarring that Santos occupied our minds. But as SE Cupp argued, in a more rational world, Santos would have resigned from Congress long ago. • Join us on Twitter and Facebook“Many Republicans just don’t care,” wrote Zelizer. Ron Edmonds/APAs a 12-year-old girl in 1981, Traci Lovitt was riveted by the appointment of Sandra Day O’Connor as the first woman on the Supreme Court.

Persons: William James, “, James, Webster, — Taylor Swift, Elon Musk, Taylor, Jeff Yang, aplomb, Swift, Ariana Grande, Tay, bestie, ”, ” Yang, Holly Thomas, ‘, Emma Chamberlain, we’re, we’ll, We’ll, Exit George Santos, George Santos, Rosalynn Carter, Henry Kissinger, Sandra Day O’Connor, Santos, New Jersey Sen, Bob Menendez, Cupp, Mercedes, ” Santos, Menendez “, Menendez, Donald Trump, Trump, Bill Clinton, ” Clay Jones Liz Cheney’s, Liz Cheney, ” Cheney, Julian Zelizer, Cheney, Kevin McCarthy, McCarthy, ” “, craven, — Cheney, Wade, Patrick T, Brown, ’ Trump, ” Brown, Sen, John McCain, ” Nick Anderson, Agency Nikki Haley’s, Nikki Haley, Koch, Haley, Geoff Duncan, ” Duncan, Joe Biden’s, Biden, Barack Obama, ” “ Haley, Nicole Hemmer, Bill Carter, Hannity, Newsom, Henry Kissinger’s, Henry “ Kissinger, Fareed Zakaria, Kissinger, Stalin, reread Spinoza, ” Kissinger, Zakaria, ” Jeremi Suri, ” “ Kissinger, Peter Bergen, Christopher Hitchens, Henry Kissinger David Andelman, Joe Biden, Phil Hands, Frida Ghitis, it’s, Netanyahu, Ghitis, Hani Almadhoun, Almadhoun, ” Elon, Jill Filipovic, X, Dean Obeidallah, Keith Magee, Lisa Benson, GoComics.com, Dominic Erdozain, Ronald Reagan, ’, Walt Handelsman, Will Leitch, William Faulkner, Robert Frost, John Steinbeck, Leitch, … I’d, ” Don’t, Dana Summers, Agency Amy Klein, Stuart E, Carter, Carmen Cusido, Sandra Day, Sandra Day O'Connor, Ron Edmonds, Traci Lovitt, O’Connor, Lovitt, Antonin Scalia, — Organizations: CNN, Oxford, Merriam, Exit, Trump, White House, Republican, Democrat, Independent, Mar, Twitter, Facebook, Republicans, Affordable, “, Tribune, Agency, New York Times, Biden, United Nations Relief, Works Agency, Musk’s, Islamic State, America “, National Commission, Illustrated, Sports, AP, Stanford Law, Potomac Locations: Merriam, New York, New Jersey, Roe, Georgia, Siena, optimists, European, Nazi Germany, Vietnam, Cambodia, Gaza, Israel, America, America “ America, United States, Arizona

☆ McCarthy, Laboring to Adjust to Life After the Speakership, Eyes Exiting Congress
▼ + stars: | 2023-12-02 | by ( Annie Karni | More About Annie Karni | ) www.nytimes.com time to read: +2 min

“His life has been building the Republican majority and attaining the third-highest office in the land. Many colleagues still consider him a skillful convener of people with institutional knowledge about the workings of a Republican majority he helped build. But his inexperienced successor, Speaker Mike Johnson of Louisiana, has not sought him out for any advice on managing the fractious Republican conference. Mr. McCarthy has labored to acclimate. “After any stressful situation, it takes a while for the body to normalize,” Mr. McHenry said of the former speaker.

Persons: ”, Patrick T, McHenry, McCarthy’s, “, McCarthy, Mike Johnson of, Johnson, Mr Organizations: Republican, Capitol, Oxford Union, New York Times Locations: McHenry of North Carolina, Mike Johnson of Louisiana

☆ TikTok’s recent court victories show just how hard it might be to ban the app
▼ + stars: | 2023-12-02 | by ( Brian Fung | Catherine Thorbecke | ) edition.cnn.com time to read: +8 min

The lawsuit in Indiana sought court-ordered fines and restrictions on TikTok for allegedly violating state consumer protection laws. Both cases reflected concerns expressed by government officials at all levels in the United States about TikTok’s ties to China through its parent company, ByteDance. Calls for a TikTok ban in the US first arose during the Trump administration and have waxed and waned in the years since, but most attempts to ban the app have been challenged in court. What comes nextUltimately, the state-level efforts in Indiana and Montana failed for many reasons, Goldman said, and policymakers should take note of this. The Indiana decision is less likely to have a nationwide impact, Goldman added, simply due to the typical obscurity of state court rulings and how state laws differ from one jurisdiction to another.

Persons: TikTok, ” Eric Goldman, ’, Trump, Donald Molloy, Molloy, Patrick Toomey, “, ” Molloy, ”, Jennifer DeGroote, DeGroote, Goldman, Blake Reid, Reid Organizations: CNN, TikTok, Santa Clara University, American Civil Liberties, Security, University of Colorado Locations: Indiana, Montana, United States, China

PITTSBURGH (AP) — The momentary bliss-fueled blackouts that used to consume T.J. Watt after every big play still come. So maybe it's best to let others — like older brother J.J. Watt — serve as his hype men. Steelers head coach Mike Tomlin called Watt “the best defensive player on the planet” on Tuesday. Pittsburgh safety Minkah Fitzpatrick — himself a three-time All-Pro — laughed when asked if he took Tomlin's praise of Watt personally. “I just want to continue to be the best player I can be for myself and for this team.”___

Persons: Watt, It's, Bud Dupree, ” Watt, “, “ I’ve, I’m, ”, Matt Canada's, Alex Highsmith, Will Levis, J.J, Watt —, Mike Tomlin, Minkah Fitzpatrick —, —, Fitzpatrick, Tomlin, ” Fitzpatrick, James Conner, Conner, “ TJ, line’s, Cole Holcomb, It’s, Teryl Austin, Derek, He's, Nick Herbig, pang, I've, “ You've, Broderick Jones, you’re, Reggie White, hasn't Organizations: PITTSBURGH, Pittsburgh Steelers, NFL, Steelers, Pittsburgh, Cleveland, Baltimore, Tennessee, Titans, Steeler, of Fame Locations: Pittsburgh, Arizona, Wisconsin

☆ Who is Patrick Clark? The 'pioneer of the American bistro' who broke barriers for Black chefs
▼ + stars: | 2023-11-29 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +7 min

In 1994, he became the first Black chef to win the James Beard Foundation's Best Chef Award. The famed chef touched on his ideology during a 1994 interview shared on YouTube by the African American Chefs Hall of Fame. Patrick's remarks weren't a knock against Black American cuisine. Instead, it was an unapologetic declaration that Black chefs can't — and won't — be pigeonholed. Black chefs at that time were fighting stereotypes that they could only excel at making soul food.

Persons: Patrick Clark's, James Beard Foundation's, Patrick, —, Patrick Clark, collard, weren't, Netflix Patrick, Preston, reminisced, Stephen Satterfield, Melvin, Idella Clark, Patrick's, Michel Guerard, Michel Guérard, Guérard, Gregory Hines, Ron Galella, Keith McNally, Odeon's, Bill Clinton, Brooks Kraft, Hilary Clinton, Hay, Patrick cinched, James Beard, Danielle Reed Rivera, WaPo Organizations: Service, YouTube, African American Chefs Hall of Fame, Adams, Black, Netflix, African American Chefs Hall, Fame's, New York City Technical College —, Great Britain's Bournemouth Technical College, New York Times, Time, American Chefs Hall, Fame, Odeon, Cafe, Metro, White, Getty, White House, Washington Post, James, Columbia, Presbyterian Medical Center Locations: Hay, Washington , DC, New York City, Europe, Brooklyn , New York, New York, Great, Braganza, London, France, AFP, Britain, Cafe Luxembourg, Beverly Hills, Washington, East Coast, DC

☆ 3 reasons why electric cars will soon get a lot cheaper
▼ + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Some automakers are slowing down EV production, saying electric vehicles are too expensive. Auto execs have pointed to high prices as a big reason why demand for electric cars has slumped this year. AdvertisementHere's three reasons why electric cars are getting more affordable. Cheaper battery packsBy far the most expensive part of any EV is the battery, and spiking battery prices have hit automakers hard. "You have to get to a certain scale to really start to make money on electric cars and for the costs to go down," Valdez Streaty said.

Persons: —, Kelley, Tesla, Goldman Sachs, EVs, David Browne, Patrick T, Fallon, Browne, Matthias Preindl, Stephanie Valdez Streaty, it's, Valdez Streaty, Elon, you've Organizations: Service, Ford, General Motors, EV, Atlas Public, EVs, Bloomberg, Department of Energy, Smart, Toyota, Manufacturers, ICE, Columbia University, Smith, Cox, Chicago Tribune, Getty Locations: China, Germany, Los Angeles

☆ Sam Altman's return to OpenAI doesn't necessarily mean a return to normalcy
▼ + stars: | 2023-11-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at Sam Altman returning to the helm of OpenAI. Less than five days after his shocking ouster, Sam Altman is set to return to OpenAI as its CEO. Microsoft's CEO Satya Nadella, a key figure in the past few days' drama, comes out a winner. By helping to reinstall Altman at OpenAI, he stabilizes a key piece of Microsoft's AI strategy.

Persons: —, NASA's James Webb, Sam Altman, JACK GUEZ, OpenAI, Altman, we're, Bret Taylor, Larry Summers, Taylor, Adam D'Angelo, Greg Brockman, OpenAI's confounder, They've, Tim Paradis, Satya Nadella, Kevin Scott, Insider's Ashley Stewart, Julie Bort, Darrin Zammit Lupi, Patrick T, Fallon Rivian, Elon Musk's, Jack Dorsey, Amr Bo Shanab, Madison, they're, Vladimir Putin, Billie Jean King, Jamie Lee Curtis, Scarlett Johansson, Hailey Bieber, John Deere, LongeviQuest's Ben Meyers, Yumi Yamamoto, Fabrizio Villatoro, Jack SteerLo, Fusa Tatsumi, they've, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NASA's James Webb Space Telescope, Getty, Silicon, Business, Microsoft, REUTERS, Elon, Madison Ave Locations: OpenAI, AFP, OpenAI's, India, New York City, San Diego, London, New York

☆ Sam Altman Will Not Return as CEO of OpenAI
▼ + stars: | 2023-11-20 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Sam Altman Will Not Return as CEO of OpenAISam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him did not agree to the proposed terms of his reinstatement. Emmett Shear, former CEO of Twitch, was named interim CEO, according to people with knowledge of the matter. Photo: Patrick T. Fallon/Agence France-Presse/Getty Images

Persons: Sam Altman, Sam Altman’s, OpenAI, Emmett Shear, Patrick T Organizations: Fallon, Agence France

Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday with the board that fired him declining to agree to the proposed terms of his reinstatement. Microsoft Chief Executive Satya Nadella posted on X (formerly Twitter) late Sunday that Altman and Greg Brockman , OpenAI’s president and co-founder who resigned Friday in protest over Altman’s ouster, will lead its team alongside unspecified colleagues. Nadella said Microsoft was committed to its partnership with OpenAI and that it would move quickly to provide Altman and Brockman with “the resources needed for their success.”

Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman, Satya Nadella, Altman, Greg Brockman, Nadella, Brockman, ” Organizations: Fallon, Agence France, Microsoft, OpenAI

Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO— Sam Altman ’s bid to return to OpenAI after being ousted Friday faltered late Sunday, as the board that fired him refused to agree to the proposed terms of his reinstatement and quietly found someone else to take Altman’s spot. Emmett Shear, former chief executive of Twitch, was named interim CEO, according to people with knowledge of the matter. Altman was shocked by the decision, previously feeling confident he would be able to return to the company he co-founded, according to a person familiar with his thinking.

Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman ’, Emmett Shear, Altman Organizations: Fallon, Agence France

Former OpenAI Chief Executive Sam Altman has told allies that he wants a new board and governance structure if he returns to the company. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Two days after Sam Altman was ousted from OpenAI, he was back at the company’s office, trying to negotiate his return. The former chief executive officer entered with a guest badge on Sunday and posted on X: “first and last time i ever wear one of these.”

Persons: Sam Altman, patrick, ” Organizations: OpenAI, fallon, Agence France

☆ Starship's first liftoff toward space created the equivalent of a volcanic eruption in the launchpad, physicist finds
▼ + stars: | 2023-11-17 | by ( Morgan Mcfall-Johnsen | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

AdvertisementDebris litters the Starship launchpad, with damaged fuel tanks visible in the background. PATRICK T. FALLON / Contributor / Getty Images"What we found was that it's comparable to a volcanic explosion," Metzger told WMFE's Brendan Byrne. Members of the public walk through a debris field around the Starship launchpad at SpaceX's facilities near Boca Chica, Texas. SpaceX plans to launch Starship again this weekend, minus the volcano-like explosionThat first space-bound Starship launch ultimately ended with the rocket itself exploding in mid-air. "I think they've completely solved the problem," Metzger told WMFE.

Persons: —, Philip Metzger, Joe Skipper, PATRICK T, FALLON, Metzger, WMFE's Brendan Byrne, That's, Elon Musk, Ashlee Vance, X, Musk, Vance, WMFE, Wednesday Musk Organizations: SpaceX, Service, University of Central, Reuters, Getty, Business, Wednesday Locations: University of Central Florida, Texas, Florida, Boca Chica , Texas

☆ Mira Murati is OpenAI's new interim CEO. Here's what we know about the exec who replaces Sam Altman.
▼ + stars: | 2023-11-17 | by ( Jordan Hart | Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

OpenAI CEO Sam Altman is out, the company's board said late Friday. Mira Murati, OpenAI's chief technology officer, will replace Altman as the interim CEO. "A member of OpenAI's leadership team for five years, Mira has played a critical role in OpenAI's evolution into a global AI leader. Murati joined OpenAI as a researcher in 2018 when the company had just 40 to 50 employees, she told Fortune. "Our goal is to get to AGI, and we want to get there in a way that makes sure that AGI goes well for humanity," Murati told Fortune.

Persons: Sam Altman, Mira Murati, Altman, —, Mira, OpenAI, PATRICK T, FALLON, Murati, ChatGPT, Tesla, Eugene Gologursky, She's, AGI, Getty, Rainer Maria Rilke Organizations: Service, Albania who's, Murati, Dartmouth, OpenAI, Time Magazine, Radiohead Locations: Albania, Murati, AGI, Silicon Valley, Vancouver

☆ Your Thanksgiving Costs, Broken Down
▼ + stars: | 2023-11-16 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

There is no avoiding relatives this year. Thanksgiving gatherings are expected to look a lot more like they did prepandemic, as prices for turkey and travel moderate. Inflation is easing overall. American families are expected to gather in pre-Covid-size crowds of nine people on average, according to turkey seller Butterball—as big as or bigger than last year’s Thanksgiving.

☆ Why Nvidia's outlook will command the spotlight during next week's earnings report
▼ + stars: | 2023-11-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Wall Street expects Nvidia (NVDA) to deliver another strong quarterly report Tuesday, as its cutting-edge artificial intelligence chips remain a hot, hard-to-get commodity. The recent trading in Nvidia's stock reflects that optimism, with shares up nearly 20% in November alone. "I don't like the so-called setup," Jim Cramer said, referring to the huge run-up in shares ahead of earnings. It's one piece of evidence behind investors' belief that Nvidia's upcoming earnings report will clear the high bar that's been set. Microsoft hasn't officially disclosed how the Maia 100's performance compares with Nvidia's top-end AI chip and AMD's MI300.

Persons: Jim Cramer, Jim, he's, —, Goldman Sachs, LSEG daa, Goldman, Morgan Stanley, workloads, Maia, Microsoft hasn't, BofA, Jim Cramer's, Hsun Huang, Patrick T Organizations: Nvidia, LSEG, Investor, Microsoft, Big Tech, Goldman, Street, Financial Times, Micro Devices, Wednesday, Google, Web Services, Bank of America, AMD, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California

☆ Opinion: Marjorie Taylor Greene botches the explanation
▼ + stars: | 2023-11-12 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —On the day after Republicans lost pivotal races in Kentucky, Ohio and Virginia last week, Rep. Marjorie Taylor Greene offered a diagnosis for her party’s ills. On Tuesday, Ohio voters passed an amendment to the state constitution that guarantees abortion rights. The disconnect may or may not cost Trump votes in 2024, but it’s hurting Republicans up and down the ballot. “Democrats will win in 2024 by making the election a choice, not just a referendum on Biden’s performance in office.

Persons: Marjorie Taylor Greene, CNN’s Manu Raju, Donald Trump, Roe, Wade, Trump, ”, Kate Bedingfield, Joe Biden’s, Youngkin, ” Bill Bramhall, Bedingfield, They’ll, Julian Zelizer, Biden, ” Clay Jones, ” Clay Jones Republican Lanhee Chen, — don’t, Chen, “, ” Mary Ziegler, Davis, Republicans don’t, Comstock, Nikki Haley, Ana Marie Cox, Ron DeSantis, Vivek Ramaswamy, Dick Cheney, ’ Haley, Haley, Ramaswamy, ‘, Haley “, ” Patrick T, Brown, ” Roxanne Jones, DeSantis, Todd Graham, Bill Bramhall, Mary Ellen O’Connell, ” “, ” John Spencer, he’s, Al Qaeda, Peter Bergen, Israel, Hani Almadhoun, Suzanne Nossel, Frida Ghitis, Walt Handlesman, Ivanka Trump, Elliot Williams, Letitia James, Williams, ” Williams, Nick Anderson, Ian Berry, Bob Dylan, Anna Lee, I’d, William, I’ll, Bethany McLean, Joe Nocera, Dr, Kent Sepkowitz, ” Sepkowitz, ” Don’t, Corey Mintz, DoorDash, Paul Rieckhoff, Jill Filipovic, Shannon Watts, Jade McGlynn, Keith Magee, King Charles, Sara Stewart, Priscilla ’, Barbra Streisand, CHANEL, Presley Ann, Patrick McMullan, Holly Thomas, James Brolin, Barbra’s, Thomas Organizations: CNN, Republicans, Trump, “, White House, State Senate, Biden, ” Clay Jones Republican, University of California, Department of Justice, Florida Gov, Republican, Senate, Content Agency Israel, Hamas, University of Notre Dame, Modern War, Twitter, Facebook, ISIS, Content Agency Trump, New York, Trump Organization, “ Trump, —, Tribune, Agency, College of, Getty, BBC Locations: Kentucky , Ohio, Virginia, Georgia, “, Mexico, Ohio, State, Michigan, Pennsylvania, Arizona, Kentucky, Mississippi, Florida, Miami, Hialeah , Florida, Trump, Israel, Gaza, Hamas, West, Mosul, Raqqa, Manhattan, New York City, Ukraine, Malibu , California, Greenwich Village

☆ How WeWork Went From $47 Billion Unicorn to Bankrupt Penny Stock
▼ + stars: | 2023-11-08 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

How WeWork Went From $47 Billion Unicorn to Bankrupt Penny StockWeWork, once a venture-capital darling, has filed for chapter 11 bankruptcy. WSJ breaks down how the desk-rental giant co-founded by Adam Neumann went from highflying startup to bankrupt penny stock. Photo: Patrick T. Fallon/AFP/Getty Images

Persons: Penny Stock WeWork, Adam Neumann, Patrick T, Fallon Organizations: Penny, Getty Locations: AFP

☆ WeWork, once valued at $47 billion, files for bankruptcy
▼ + stars: | 2023-11-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. The bankruptcy filing is limited to WeWork's locations in the U.S. and Canada, the company said in a press release. The company reported liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing. Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago. The company leases millions of square feet of office space in 777 locations around the world, according to its regulatory filings.

Persons: WeWork, Patrick T, Fallon, PATRICK T, FALLON, David Tolley, Masayoshi Son's SoftBank, Adam Neumann, Neumann, Kirkland, Ellis, Cole Schotz, PJT, CNBC's Ari Levy Organizations: Securities and Exchange Commission, SEC, Getty, New York Stock Exchange, CNBC, PJT Partners, C Street Advisory Group, Alvarez, Marsal Locations: Los Angeles , California, AFP, New Jersey, U.S, Canada

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