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"Google is a monopolist, and it has acted as one to maintain its monopoly," the judge wrote. It was accused of spending billions to be the default search engine on Apple devices and beyond. Go to newsletter preferences Thanks for signing up! AdvertisementGoogle violated antitrust law with its online search, a federal judge ruled Monday, striking a major blow against one of the titans of the tech industry. District Judge Amit Mehta said Google's billions in payments to keep its search engine as the default on web browsers violated US law.
Persons: , Judge Amit Mehta, Mehta Organizations: Google, Service, titans, Business
Top brokerages had some outages on Monday morning, according to Downdetector. Fidelity told Business Insider that the issues had been resolved. Go to newsletter preferences Thanks for signing up! AdvertisementSome top brokerage firms were hit by online outages Monday as the global market continued its melt down, according to user reports. This story is available exclusively to Business Insider subscribers.
Persons: , Charles Schwab Organizations: Fidelity, Business, Service, Vanguard, Interactive
Trade Tracker: Steve Weiss bought and sold Meta this morning
  + stars: | 2024-08-05 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrade Tracker: Steve Weiss bought and sold Meta this morningSteve Weiss, founder and managing partner at Short Hills Capital Partners joins CNBC’s “Halftime Report” to explain his latest tactical Meta trade.
Persons: Steve Weiss Organizations: Short Hills Capital Partners
Wall Street to Big Tech: Is AI ever going to make money?
  + stars: | 2024-08-02 | by ( Clare Duffy | ) edition.cnn.com   time to read: +7 min
New York CNN —There’s been one big question on the minds of Wall Streeters this tech earnings season: When will anyone start making actual money from artificial intelligence? But Big Tech still has relatively little to show for all their billions spent in terms of significant revenue gains from AI or profitable new products, and investors are starting to get antsy. Shares of both Google and Microsoft dipped following their earnings reports, a sign of investors’ discontent that their huge AI investments hadn’t led to far-better-than-expected results. She added: “Gen AI is where we’re much earlier … We don’t expect our gen AI products to be a meaningful driver of revenue in ’24. As an example of just how long it can take AI products to come to fruition, take Tesla’s AI-based “full self-driving” technology.
Persons: New York CNN — There’s, ChatGPT, , Morgan Stanley, Keith Weiss, Steven Ju, Sundar Pichai, Goldman Sachs, , ” D.A, Davidson, Gil Luria, Meta, Amy Hood, , Susan Li, that’s, ” Luria, we’re, Jim Covello, Tesla, FSD, Google’s Pichai, Mark Zuckerberg, — Luria Organizations: New, New York CNN, Big Tech, UBS, Google, Microsoft, CNN, Meta Locations: New York, Silicon Valley
CNN —Hunter Biden is set to be sentenced on his gun crime convictions days after the 2024 election. Federal Judge Maryellen Noreika has scheduled the sentencing proceeding in Delaware’s federal court for November 13, according to an order from the court on Friday. Hunter Biden faces a maximum sentence of up to 25 years in prison and a fine of up to $750,000 at sentencing. He also faces an upcoming second federal criminal trial, on tax charges in California, that could complicate his sentencing. In Delaware’s federal court, a jury unanimously voted to convict Hunter Biden in June on three felony gun charges intended to prevent drug addicts from possessing firearms.
Persons: CNN — Hunter Biden, Maryellen Noreika, Hunter, Joe Biden, Hunter Biden, Hunter Biden’s, Noreika, Donald Trump, , David Weiss, Biden Organizations: CNN, Federal Locations: California
AdvertisementBig tech companies are forecast to spend $1 trillion on data centers, real estate, chips and other gear to build AI models, tools and products. AdvertisementSome big tech companies have already whittled away a large chunk of their cash reserves chasing this AI trend. For more than a year, the assumption has been that generative AI will stoke a massive wave of new demand. What if that demand turns out to be weaker than expected? A major piece of evidence he shared was about demand for Microsoft's 365 Copilot service.
Persons: , Ashley Stewart, I've, Ashley, Keith Weiss, Morgan Stanley, Weiss, Andy Jassy, Sundar Pichai, Satya Nadella, BI's Ashley Stewart, Nadella Organizations: Service, Business, pharma, Big, Microsoft, stoke, Amazon, Google, CIO
Olympians finally swam in the Seine after months of hype and speculation. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFollowing a $1.5 billion investment that's been met with some suspicion, Olympians finally swam in the Seine on Wednesday — after the men's event was postponed because of high E. coli levels. Some athletes said they prepped with probiotics, while others complained about the inevitable gulps they got.
Persons: , that's Organizations: Wall Street, Service, Business Locations: Seine
Read previewIn May, Ryan Salame was sentenced to 7½ years in prison for his role in Sam Bankman-Fried's multi-billion-dollar cryptocurrency fraud. In May, US District Judge Lewis Kaplan — who also oversaw Bankman-Fried's trial — sentenced Salame to 7.5 years in prison, higher than what prosecutors recommended. AdvertisementSalame says without evidence that a key witness in Bankman-Fried's trial liedSalame pleaded guilty to charges against him in September, shortly before the start of Bankman-Fried's criminal trial in Manhattan. At the trial, Singh said he initially cared about the political donations, but later just did whatever Salame told him to. In social media posts, Salame said Singh wasn't being truthful about his role in the use of FTX customer funds.
Persons: , Ryan Salame, Sam Bankman, Salame, Fried, SBF, Trump, Donald Trump, RyAN, Lewis Kaplan —, Kaplan, ANGELA WEISS, weren't, German Shepherd, Caroline Ellison, Gary Wang, Nashad Singh —, Wang, Singh, Ellison hasn't, Salame didn't, didn't, Nishad Singh, FTX, Ellison, Singh wasn't, Nishad, I've, Guy, hasn't, he's, Joe Biden, Bitcoin, Gary Gensler, Biden, Kamala Harris Organizations: Service, Business, Alameda Research, US Bureau of Prisons, US, Mega, FTX, Circle Trade, CPA, HK, Republican Party, Twitter, Alamada Research, Prosecutors, Getty, FTX's, Office, Southern, of, Bankman, Republican, Alameda, SEC, Trump Card Locations: Bankman, FTX, Alameda, Bahamas, America, Nashville, Manhattan, Washington ,, United States, German, of New York, York
Amazon just gave a bleak sign about the economy
  + stars: | 2024-08-01 | by ( Geoff Weiss | ) www.businessinsider.com   time to read: +1 min
Amazon says that deal-seeking shoppers dented its sales. Amazon is presenting a bleak picture of the economy as rising prices batter American wallets. 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 . AdvertisementAmazon said deal-hungry shoppers dented sales in the second quarter, presenting a bleak picture of the economy as prices continue to batter American wallets.
Persons: , Brian Olsavsky Organizations: Service, Amazon, Business
Einat Weiss has been the CMO of Nice for the last four years, and she tells us how the role has evolved and what it takes to be an effective marketer. "I really believe that at the end of the day marketing needs to be not just eye catching but also data-driven," Weiss tells Business Insider. "And this is something that I feel is extremely, extremely important in order to be an effective CMO is really having the ability to understand data and make data-driven decisions."
Persons: Einat Weiss, Weiss Locations: Nice
Apart from Biles, Skinner said the team 'isn't like what it used to be'Skinner won silver on vault at the Tokyo Games. Laurence Griffiths/Getty ImagesIn a since-deleted YouTube video also captured on X, Skinner said of this year's team: "Besides Simone, I feel like the talent and the depth just isn't like what it used to be." She added, "A lot of girls don't work as hard." In the deleted video, Skinner said SafeSport had forced coaches to be careful about how they speak to athletes. While she noted that's a "really good" thing, she also said it's necessary to be "a little aggressive and a little intense" in order to win.
Persons: Skinner, Laurence Griffiths, Simone, Larry Nassar, SafeSport Organizations: Tokyo Games, US Center, SafeSport
Virgin Atlantic ordered seven Airbus A330-900neos to complete a $17-billion fleet transformation. The airline has been flying the type since 2022, complete with its exclusive new "Retreat Suite." 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 . AdvertisementEnglish airline Virgin Atlantic Airways revealed the final part of its $17-billion fleet transformation at the Farnborough Airshow in July with an order for seven new Airbus A330-900neos.
Persons: , Shai Weiss, Virgin's Organizations: Virgin Atlantic, Airbus, Service, Virgin Atlantic Airways, Farnborough, Boeing, Business
Read previewDonald Trump is again railing against Big Tech, accusing both Meta and Google of censoring content about him in "another attempt at RIGGING THE ELECTION!!!" In a post Tuesday on Truth Social, Trump referenced a photo taken after his assassination attempt that a Facebook communications exec previously acknowledged had been mistakenly fact-checked across the social network. The New York Post also reported Monday that after asking about the assassination attempt, Meta's AI assistant had responded that the event had never happened. Still, Trump urged his followers on Truth Social Tuesday to "GO AFTER META AND GOOGLE. Zuckerberg had called Trump a "badass" for surviving his assassination attempt, but that didn't stop Trump from threatening to send the Facebook cofounder to prison if he's elected.
Persons: , Donald Trump, Trump, Dani Lever, Lever, Mark Zuckerberg, Zuckerberg, he's, Elon Musk, Elon Musk —, Harris • Donald Trump, Donald Trump Jr, Ted Cruz — Organizations: Service, Big Tech, Social, Facebook, Business, New York Post, Trump, Google
Read previewOn Monday night, a group calling itself "White Dudes for Harris" hosted an online fundraiser aimed at … white dudes who support Kamala Harris. Organizers said thousands joined the call, and that the event raised more than $4 million for the Harris presidential campaign. But good luck understanding why Musk makes any decisions at Twitter about content moderation or anything else. AdvertisementAnd in cases like White Dudes for Harris, when it's unclear if he's done anything at all, people will be that much more inclined to believe he has done something. That includes Nellis, who says he'll continue to use the platform to promote White Dudes For Harris.
Persons: , Harris, Kamala Harris, Mike Nellis, Nellis, @elonmusk, we've, we're, , Elon Musk, Donald Trump, I've, Twitter, haven't, Musk, Bari Weiss, Matt Taibbi, Trump's, he'll, We're Organizations: Service, Twitter, Business, Nellis, Meta, Trump PAC, Trump
Hermès descendant Nicolas Puech planned to leave billions to his former gardener. Now he says his fortune is gone, alleging fraud by his former wealth manager. 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 . AdvertisementNicolas Puech, a descendant of Hermès founder Thierry Hermès — who made headlines last year after he reportedly planned to leave half his fortune to his former gardener — is now claiming his billions have disappeared.
Persons: Nicolas Puech, , Hermès, Thierry Hermès —, Eric Freymond Organizations: Bloomberg, Service, Business Locations: Gotham
Athletes and team officials are no fans of the cuisine at the Paris Olympics. With a lack of protein and raw meat, Great Britain said it was flying in another private chef. The CEO of Paris 2024 acknowledged 'adjustments' — including a lot more eggs and meat. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The UK team has had to resort to flying in another private chef to Paris due to a lack of protein and raw meat being served at the Olympic Village, Andy Anson, the CEO of the British Olympic Association, told The Times.
Persons: , Olympics hasn't, Andy Anson Organizations: Paris, Service, Paris Olympics, Olympics, British Olympic Association, Times, Business Locations: Great Britain, Germany, Paris
The Justice Department arrested two cartel leaders Thursday. One, El Chapo's son, worked with authorities to trick the second, leader El Mayo, onto a plane, according to CNN. At his trial, El Chapo argued El Mayo was the real boss behind the cartel. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Cofounder Ismael Zambada Garcia, also known as "El Mayo," and Joaquin Guzman Lopez — the son of the cartel's other jailed cofounder, Joaquin "El Chapo" Guzman — were arrested in Texas and are facing multiple charges related to manufacturing and trafficking fentanyl, Garland said.
Persons: El Chapo's, El Mayo, El Chapo, , Merrick Garland, Ismael Zambada Garcia, El, Joaquin Guzman Lopez —, Joaquin, Guzman —, Garland Organizations: Department, CNN, Service, , Business Locations: El, Sinaloa, El Mayo, Texas
If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.
Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest
Tech is already making this Olympics a mess
  + stars: | 2024-07-25 | by ( Geoff Weiss | ) www.businessinsider.com   time to read: +1 min
Errant drones and soccer refereeing tech are already sparking chaos at this year's Olympics. Canada women's soccer coaches apologized after flying a drone over a New Zealand practice session. 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 . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.
Persons: , Paris —, they've Organizations: Service, Canadian Olympic Committee, New Zealand Football, Business Locations: Canada, New Zealand, Paris
Cold storage leader Lineage just had the biggest IPO of 2024. Once obscure, cold storage has grown in demand in recent years. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCold-storage leader Lineage just clinched the largest public offering of the year. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Bloomberg, Service, Business Locations: Michigan, North America, Europe
On Tuesday, Elon Musk floated the idea of Tesla investing $5 billion into xAI. But shareholders in the past have bought into Musk's whole entrepreneurial vision — rather than just its parts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementShould Elon Musk spend money from one company he controls to invest in another? On Tuesday night on X, Elon Musk floated the idea, polling users whether Tesla should invest $5 billion into his burgeoning AI startup, xAI.
Persons: Elon Musk, Musk's, , Elon, Musk, Tesla Organizations: Service, Business
Anu Duggal, a founding partner of Female Founders Fund, launched the event during the pandemic to assuage some of the loneliness founders felt. AdvertisementEmily Middleton and Anu Duggal of Female Founders Fund share a laugh onstage during their opening remarks. Yumi Matsuo StudioSince its pandemic beginnings, Camp FFF has evolved into a rare and necessary sanctuary where female founders can connect and sometimes commiserate. Yumi Matsuo StudioIn the tasting room, guests set down cups of cold brew and picked up notebooks before taking their seats. Anu Duggal of Female Founders Fund traded the venture capital uniform of a Patagonia fleece vest for a flamingo-pink pantsuit.
Persons: , Candace Bushnell, Anu Duggal, Lydia Fenet, Emily Middleton, Yumi Matsuo, Middleton, ChatGPT, Poppy Harlow, Kyle Leahy, Glossier's, Emily Weiss, Leahy, Taylor Swift, Matsuo, Arey, Allison Conrad, Melanie Goldey, Amanda E, J Morrison, Julie Products, Hayley Barna, Barna, Birchbox, Christie Horvath, Horvath, Stephanie Horton, Marina Organizations: Service, Fund, FFF, Business, Tally Health, Google Locations: Southampton , New York, Patagonia
U.S. Vice President and Democratic presidential candidate Kamala Harris arrives to boards Air Force Two at Joint Base Andrews in Maryland, U.S. on July 24, 2024. Vice President Kamala Harris' allies on Wall Street huddled on a private Zoom call Wednesday to strategize how to defeat former President Donald Trump, according to people familiar with the matter. The call featured dozens of major financiers backing Harris, and lasted over an hour. Those who spoke to CNBC did so anonymously in order to speak freely about private matters. "We need to raise a ton of money," said someone on the call, describing the first portion of the conversation.
Persons: Kamala Harris, Donald Trump, Harris, Marc Lasry, Blair Effron, Ray McGuire, Robert Rubin, Tony Coles, Paul, Weiss, Brad Karp, Robert Wolf, Brian Mathis, Jon Henes, Joe Biden, Rufus Gifford Organizations: Democratic, Air Force, Joint Base Andrews, Avenue Capital, Centerview Partners, Lazard, C, Advisory, CNBC Locations: Maryland, U.S
Beyoncé Knowles has given Kamala Harris permission to campaign to one of her beloved anthems. Harris will be able to use 2016's "Freedom" throughout her presidential bid, CNN reports. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Vice President Kamala Harris, the likely Democratic nominee, walked out to "Freedom" — a popular anthem by Beyoncé Knowles — during a visit to her campaign headquarters Monday night. Knowles' reps gave Harris permission to use the song hours before the appearance, CNN reported, adding Harris has also gotten the okay to use the song throughout her campaign.
Persons: Beyoncé Knowles, Kamala Harris, Harris, Knowles hasn't, , Knowles Organizations: CNN, Service, Democratic, Business
Read previewSome parents say they were left scrambling to help their stranded kids after Delta Air Lines suddenly changed its policies as it grapples with extended delays and cancellations that stretched into the fourth day. "It was about three hours of sheer panic," one of the parents, Cecilia Stone, told Business Insider. AdvertisementAfter the outage, Delta barred unaccompanied minors from traveling, a move its competitors have not implemented. AdvertisementDonald had a regular ticket, but as a minor was still not allowed to fly, Stone told BI. AdvertisementDelta told Business Insider in a statement that it stopped unaccompanied kids from traveling "to protect minors from being separated from their families and caregivers in the event of flight disruptions or cancellations."
Persons: , Cecilia Stone, Transportation Pete Buttigieg, Joel Fortney, wasn't, Fortney, Donald, Stone, Delta didn't, hasn't Organizations: Service, Delta Air Lines, Delta, Business, Transportation, The New York Times, Navy, Delta Airlines Locations: Iowa, Maine, Chicago, Salt Lake City, San Diego
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