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☆ Hurricane Lee path: Vast stretches of coastal New England face hurricane and tropical storm watches ahead of storm's arrival
▼ + stars: | 2023-09-14 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +3 min

“Hurricane conditions, heavy rainfall, and coastal flooding are possible in portions of eastern Maine on Saturday,” the National Hurricane Center said. The area is under a hurricane watch, as is parts of New Brunswick and Nova Scotia. A tropical storm watch has also been issued for large swaths of coastal New England, including Nantucket and Martha’s Vineyard, Massachusetts. ET Thursday and was churning with maximum sustained winds of up to 100 mph, according to a hurricane center advisory. The storm is on track to sweep past Bermuda to its west Thursday, prompting an island-wide tropical storm warning.

Persons: Lee, Lee doesn’t, Josh Rannenberg, ” Rannenberg, CNN’s “ Erin Burnett Organizations: CNN, National Hurricane Center, National Oceanic, Atmospheric Administration Locations: New England, barreling, Maine, Atlantic Canada, Atlantic, New Brunswick, Nova Scotia, Massachusetts, Cape Cod, Nantucket, Vineyard , Massachusetts, Bermuda, New Hampshire, Rhode

☆ US economy will 'hit a wall' by the spring – and inflation could spike again, warns 'bond king' Jeffrey Gundlach
▼ + stars: | 2023-09-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The US economy is likely to "hit a wall" by next spring, Jeffrey Gundlach warned. The government may try to spend its way out of trouble, reigniting inflation, Gundlach said. They now face a "dangerous cocktail" of inflated living costs, steeper rents, larger interest payments on their credit cards, the resumption of student-loan repayments, and taxes coming due, he continued. Gundlach — whose nickname is the "bond king" — predicted the plethora of financial pressures would tank the economy. He emphasized that the government's interest payments are already exploding, and warned they could grow substantially in the coming years.

Persons: Jeffrey Gundlach, Gundlach, — Organizations: DoubleLine, Service, Fox Business, DoubleLine Capital, Federal Reserve Locations: Wall, Silicon

☆ Economist David Rosenberg says a recession will hit in 6 months. Here are his 7 best quotes from a new interview.
▼ + stars: | 2023-09-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Top economist David Rosenberg expects a US recession to hit within 6 months. The Fed's 11 interest rate hikes amount to one of the most aggressive tightening campaigns ever, and to the economist, that doesn't bode well for the coming months. "We've had the biggest interest rate shock since 1981, if I'm not mistaken. "Most of these recessions [since World War II] were not caused by a fiscal shock, but interest rate shocks. "We've had a massive interest rate shock, we haven't seen the full impact yet.

Persons: David Rosenberg, Blockworks, Blockwork's Jack Farley, doesn't bode, We've, I'm, impact's, we're, it's Organizations: Morning, Rosenberg Research, Associates, Fed Locations: China, Federal, happenstance

☆ US Atlantic hurricane activity picks up with five systems on watch
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Aug 20 (Reuters) - Tropical Storm Franklin over the eastern Caribbean and a disturbance in the Gulf of Mexico are expected to strengthen over the next two days as U.S. forecasters monitor three other weather systems in the Atlantic. In its latest advisory, the NHC said Tropical Depression Six, near the Leeward Islands was expected to become a remnant low on Sunday night. Next in line is Tropical Storm Emily in the central Atlantic, which could become a post-tropical cyclone in about 36 hours, the Miami-based forecaster said. Meanwhile, a tropical disturbance near the Cape Verde Islands has a 30% chance of becoming a cyclone over the next two days and a tropical depression is likely to form later this week. While the Atlantic has seen relatively mild activity this year, on the U.S. West Coast, the Tropical Storm Hilary unleashed furious flash floods east and west of Los Angeles on Sunday after barreling through Mexico's Baja California peninsula with deadly force.

Persons: Storm Franklin, Emily, Storm Hilary, Swati Verma, Robert Birsel Organizations: Storm, Atlantic . Franklin, U.S, National Hurricane Center, U.S ., Thomson Locations: Caribbean, Gulf, Mexico, Atlantic, Hispaniola, Puerto Rico, Leeward, Miami, Cape Verde, U.S . West Coast, Los Angeles, Mexico's Baja California, Bengaluru

☆ Hurricane Hilary to trigger floods in Baja California peninsula, southwestern US - NHC
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +3 min

[1/5] Caution tapes prevent the passage at El Medano beach, as Hurricane Hilary hits Mexico's Baja California peninsula, in Cabo San Lucas, Mexico August 19, 2023. REUTERS/Monserrat Zavala Acquire Licensing RightsMEXICO CITY, Aug 19 (Reuters) - Hurricane Hilary was barreling towards Mexico's Baja California peninsula on Saturday, a U.S. government agency said, warning that catastrophic and life-threatening flooding was likely on the peninsula and U.S. Southwest. The National Hurricane Center (NHC) said the hurricane was weakening on its path to the west-central coast of the peninsula this evening. It predicted it would lose more strength and turn into a tropical storm as it heads towards southern California during the day and evening on Sunday. In Mexico's Baja California peninsula, some school and other non-essential activities were canceled through Monday, and authorities in Mexico's second-largest city, Tijuana, urged people in high-risk zones to move to temporary shelters.

Persons: Hilary, Monserrat Zavala, Joe Biden, Drazen Jorgic, Steve Holland, Michael Martina, Cynthia Osterman, Deepa Babington Organizations: REUTERS, MEXICO CITY, Mexico's, Southwest, National Hurricane Center, NHC, San Diego International, Major League Baseball's, Dodgers, Angels, Los Angeles FC, LA Galaxy, Thomson Locations: El, Baja California, Cabo San Lucas, Mexico, MEXICO, Mexico's Baja California, U.S, United States, California, Miami, Nevada, Mexico's, Tijuana, Southwest . U.S, Major League Baseball's Los Angeles

Mexico warned the western state of Baja California on Saturday to brace for what could be life-threatening rain and floods from Hurricane Hilary, the Pacific storm barreling toward the peninsula and neighboring Southern California. State and federal authorities urged citizens to take precautions ahead of the storm, which was expected to make landfall early Sunday. Although Hilary weakened somewhat on Saturday, officials warned it remained lethally destructive. More than 6,500 soldiers were deployed Friday to the states of Baja California and Baja California Sur to help erect shelters, organize food banks and prepare for possible emergency rescues. Libia González, a meteorologist with Mexico’s national forecasting service, said that the storm would gradually decrease in strength and was expected to become a Category 1 by Sunday morning.

Persons: Hurricane Hilary, Hilary, Libia Organizations: Southern California ., Sunday Locations: Mexico, Baja California, Hurricane, Southern California, Southern California . State, Baja California Sur

☆ Virgin Galactic to launch first tourism mission after decades of promises
▼ + stars: | 2023-08-10 | by ( Jackie Wattles | Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —Virgin Galactic — the space tourism company founded by British billionaire Richard Branson — is finally prepared to launch its first space tourists to the edge of the cosmos, a major step toward delivering on decades of promises. Meet the crewThis mission comes on the heels of the success of Virgin Galactic’s first commercial mission, which launched in June. Goodwin was one of the earliest ticket holders on Virgin Galactic, which opened its first sales more than a decade ago. Virgin Galactic has sold about 800 tickets, including 600 at prices up to $250,000 and another couple hundred at $450,000 per ticket. In the lead-up to 2023, Virgin Galactic had been undergoing a lengthy “enhancement” process to upgrade its flight hardware.

Persons: Richard Branson —, Keisha Schahaff, Anastatia Mayers, Jon Goodwin, Goodwin, Virgin Galactic’s, Jeff Bezos, Galactic Schahaff, Mayers, “, ” Schahaff, Oliver Daemen, Bezos, don’t, ”, John McFall, What’s, Michael Colglazier, Virgin Galactic, Colglazier Organizations: CNN, Virgin Galactic, VSS Unity, Virgin, VSS, Galactic, Space, Humanity, University of Aberdeen, Blue, European Space Agency Locations: British, New Mexico, Antigua, American, Caribbean, Scotland

☆ Watch out: September's poor market track record is getting worse — especially for certain stocks
▼ + stars: | 2023-08-10 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wall Street is barreling toward what's historically been the worst month for stocks, according to CNBC PRO data. September is the weakest month for Apple, which dropped 2.82% on average, and Google-parent Alphabet, which fell an average 2.20%. For Amazon, September is the 11th weakest month, dropping 2.59%. And for Meta, it's the 10th worst month, as shares fall 1.96% on average. Meanwhile, September is historically the 9th worst month for this year's biggest AI beneficiary Nvidia, which is higher this year by nearly 200%.

Persons: Jeff Hirsch, it's, Almanac's Hirsch, Hirsch, Chris Hayes Organizations: CNBC, Nasdaq, that's, Apple, Google, Amazon, Meta, Nvidia Locations: That's

☆ A severe recession is on the horizon - and the Fed will axe interest rates to limit the fallout, DoubleLine's chief investor says
▼ + stars: | 2023-07-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

The US economy is barreling toward a serious recession, DoubleLine Capital's Jeffrey Sherman says. Sherman predicts an embattled Fed will cut interest rates by a whole percentage point in response. "A multitude of economic indicators we look at are flashing either warning or recessionary signals," Jeffrey Sherman told Bloomberg. "The bond market is telling the Fed that they've overtightened and they will have to cut rates," Sherman said. "I think one signal to watch now is the rising default rate within the loan market," Sherman noted.

Persons: DoubleLine Capital's Jeffrey Sherman, Sherman, Jeffrey Gundlach, DoubleLine, Jeffrey Sherman, He's Organizations: Service, Federal Reserve, Bloomberg, Fed Locations: Wall, Silicon

☆ Forget recessions and vibecessions, we're in the middle of a confused-as-hell-cession
▼ + stars: | 2023-07-21 | by ( Sirena Bergman | ) www.businessinsider.com time to read: +3 min

Elon Musk is confused as hell by the economy. It feels like a recession is coming, but the details are hard to understand for the average person. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. No wonder we're all spending less time doing our jobs, we're too exhausted from trying to figure this all out. It's a confused-as-hell-cession, and Elon Musk has never been more relatable.

Persons: Elon Musk, you've, you'll, Neil Dutta, who's, It's Organizations: Service, Elon, York Life Investments, Macro Locations: Wall, Silicon

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

☆ How an Olympic swimmer with a 9-to-5 engineering job schedules his day: ‘It may not be easy, but there is time for everything’
▼ + stars: | 2023-07-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Around the office, at his Atlanta-based engineering job, Nic Fink's coworkers call him "The Fish." It's an apt nickname for the 30-year-old who moonlights as a swimmer on the U.S. national team and has competed at Olympic tournaments. But for the average 9-to-5 worker, adding in a professional swim training schedule might seem nearly impossible — at least, without barreling toward burnout. Here are two tips he keeps in mind to make it happen:'There is time for everything'Fink typically starts his day at 5:30 a.m. to make it to his two-hour morning swim training. As he ping-pongs from the pool to the office back to the pool, Fink relies on to-do lists and strict scheduling to keep himself organized.

Persons: Nic Fink's, Fink, Melanie Margalis, Fink's, It's Organizations: U.S ., CNBC, Georgia Institute of Technology, U.S, Georgia Tech Locations: Atlanta, what's

☆ FTC is investigating ChatGPT-maker OpenAI for potential harm to consumers
▼ + stars: | 2023-07-13 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

OpenAI didn’t immediately respond to a request for comment. OpenAI CEO Sam Altman addresses a speech during a meeting, at the Station F in Paris on May 26, 2023. As the nation’s top consumer protection watchdog, the FTC is empowered to prosecute privacy abuses, untruthful marketing, and other harms. FTC Chair Lina Khan has argued that the agency’s existing congressional mandate provides ample authority for the FTC to prosecute abusive uses of AI. Some critics of OpenAI previously filed a complaint to the FTC claiming that algorithmic bias, privacy concerns and ChatGPT’s tendency to hallucinate may violate US consumer protection law.

Persons: Sam Altman, OpenAI, OpenAI didn’t, Joel Saget, Lina Khan, “ turbocharge, Khan, ” Khan, ” OpenAI Organizations: Washington CNN, Federal Trade Commission, FTC, The Washington, CNN, Getty, European Union, scammers, New York Times Locations: Paris, AFP, “

☆ What happens when ChatGPT tries to create crochet patterns
▼ + stars: | 2023-07-08 | by ( Aj Willingham | ) edition.cnn.com time to read: +11 min

ChatGPT, a publicly available language-learning AI, was not designed to create things like crochet or knitting patterns. Before we begin …A few notes on my methodology:For every crochet pattern I generated, I used the prompt “Create a crochet pattern for (blank).”I followed the crochet pattern exactly. At first glance, ChatGPT’s crochet patterns look and read exactly like a crochet pattern. In a traditional crochet pattern, instructions for assembly would note specific places and methods to attach pieces, along with photos or notes on particularly tricky steps. Theoretically, it would be possible to create AI that generated amazing crochet patterns, but that would require very specific training and programming.

Persons: ”, AJ Willingham, ChatGPT, ’ AJ Willingham, You’ll, Yoda ’ AJ Willingham, Yoda, Casey Miller, ” Miller, It’s, Antarctica ’ AJ Willingham, “, Al Arab ’ AJ Willingham, CNN I’ll, Khalifa, you’ve, Eliot, don’t Organizations: CNN, Antarctica, Burj Al, Burj Locations: Kennesaw , Georgia, Antarctica, Al Arab, Al, Arab, Dubai, Burj, Arab’s

☆ 'I've seen this show before': A renowned market bear who called the dot-com bubble warns a recession is still barreling toward the US economy — and stocks are due to suffer as misguided optimism fuels
▼ + stars: | 2023-07-08 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

There's a fairly simple way to characterize Societe Generale strategist Albert Edwards' latest note to clients. Bears are boys who cried wolf (recession), and investors are the shepherd who have become sick of the ongoing warnings and have stopped heeding their calls. Societe GeneraleAll of this optimism is likely a mistake, Edwards said as he doubled down on his recession call. In an May note, Edwards said "recession is a done deal," citing The Conference Board's Leading Economic Index, which has been at recessionary levels for months now. The indicators takes into account variables like manufacturing activity, stock performance, consumer confidence, housing market activity, and bond market activity.

Persons: Albert Edwards, Edwards, downgrades, —, I'm, Michelle Cluver, Jason Draho, Neil Dutta, Ian Shepherdson Organizations: Societe Generale, Bears, Generale All, Generale, Investors, Bureau of Labor Statistics, X, Federal Reserve, UBS, Macro

☆ These are the 3 biggest fears about AI — and here's how worried you should be about them
▼ + stars: | 2023-07-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Some AI experts say we're barreling headfirst toward the destruction of humanity. Current AI systems are not sentient but they are created to be humanlike. "We need to look at the lack of purpose that people would feel at the loss of jobs en masse," he told Insider. AI biasIf AI systems are used to help make wider societal decisions, systematic bias can become a serious risk, experts told Insider. There have already been several examples of bias in generative AI systems, including early versions of ChatGPT.

Persons: Sam Altman, OpenAI, we're, David Krueger, it's, I'm, Alan Turing, Janis Wong, Aaron Mok, Krueger, Abhishek Gupta, Arvind Krishna, Gupta, Wong Organizations: Center, AI Safety, Cambridge University, Montreal AI, IBM Locations: Montreal

☆ UBS shares 9 charts that show global stocks are barreling towards a sell-off as recession fears flare
▼ + stars: | 2023-07-03 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +2 min

But UBS analysts are expecting that global equity valuations will sell off later this year. Stocks may be riding the ongoing bull rally back to all-time highs, but that doesn't mean Wall Street's fears of an economic downturn have completely dissipated. In fact, even prominent investors such as Evercore founder Roger Altman have called for a recession by the end of 2023. And according to analysts at UBS investment bank, a potential market sell-off wouldn't be solely concentrated in the technology sector. In the note, Baweja and his team also shared nine "essential" charts showing why they expect equities to sell off this year.

Persons: Roger Altman, Joe Mazzola — Charles Schwab's, —, Bhano Baweja, Baweja Organizations: UBS

☆ The Supreme Court's rejection of Biden's student-loan-forgiveness plan will make a looming economic slowdown even worse
▼ + stars: | 2023-06-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The repayment poses risks to the economy, with consumer spending likely to be reduced. On Friday, the Supreme Court ruled that Biden's plan to cancel up to $20,000 in student debt will be struck down. But they're a weight, it's about 20 million student-loan borrowers that haven't been paying, they'll have to begin paying more or less in September," Zandi said. White House Principal Deputy Press Secretary Olivia Dalton was asked this week about how the student-loan payment resumption could impact consumer spending. And his concerns are broader than just a contraction in consumer spending.

Persons: —, Joe Biden's, Mark Zandi, haven't, Zandi, that's, Ethan Harris, Morgan Stanley, Olivia Dalton, Dalton, Marshall Steinbaum Organizations: Education Department, Service, Moody's, CNBC, Bank, Bank of, UBS, White, Politico, Family Institute, University of Utah Locations: Wall

☆ Kagan says the Supreme Court risks becoming 'a danger to a democratic order' after it axed Biden's student loan forgiveness plan
▼ + stars: | 2023-06-30 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Justice Elena Kagan slammed the Supreme Court for striking down Biden's student loan forgiveness plan. The high court, Kagan argued, is approaching a future that is "a danger to a democratic order." "That is no proper role for a court," Kagan wrote. "Congress knew that national emergencies would continue to arise," Kagan wrote. "From the first page to the last, today's opinion departs from the demands of judicial restraint," Kagan wrote.

Persons: Elena Kagan, Kagan, SCOTUS, —, John Roberts, Biden, Joe Biden, Roberts, Sonia Sotomayor, Ketanji Brown Jackson, Obama Organizations: Service, Education Department

☆ Virgin Galactic launches first paying customers to the edge of space
▼ + stars: | 2023-06-29 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Virgin Galactic, the venture founded by British billionaire Richard Branson, successfully launched its first paying customers to the edge of space — a milestone two decades in the making. (Future Virgin Galactic flights, however, are expected to include a range of high-profile customers.) Bennett’s role was to assess the comfort and function of the flight, using that information to inform future changes Virgin Galactic might make to its rocket-powered space plane, VSS Unity. Organizations such as NASA have routinely flown experiments on suborbital rockets, including Virgin Galactic and Blue Origin missions. In a tragic 2014 accident, Virgin Galactic’s space plane broke apart during flight, killing the mission’s copilot, Michael Alsbury.

Persons: Richard Branson, Virgin Galactic’s, Jeff Bezos’s, Walter Villadei, Angelo Landolfi, Colin Bennett, Pantaleone, Branson, Burt Rutan, Paul Allen, Hamish Harding, Michael Alsbury, — Organizations: CNN, Virgin Galactic, Italian Air Force, Virgin, SpaceX, Italy’s National Research Council, Branson, VSS, VSS Unity, NASA, International, National Research Council, Microsoft, Galactic, OceanGate, Scaled Composites, Origin, Congress, Federal Aviation Administration, FAA Locations: British, New Mexico, United States

☆ Opinion | It’s Not Too Late for the Republican Party
▼ + stars: | 2023-06-25 | by ( J. Michael Luttig | ) www.nytimes.com time to read: +2 min

He cynically calculated that his indictment would ensure that a riled-up Republican Party base would nominate him as its standard-bearer in 2024, and the last few weeks have proved that his political calculation was probably right. In a word, the Republicans are as responsible as Mr. Trump for this month’s indictment — and will be as responsible for any indictment and prosecution of him for Jan. 6. But by all appearances, it certainly hasn’t occurred to them yet that any reckoning is needed. Building the Republican campaign around the newly indicted front-runner is a colossal political miscalculation, as comedic as it is tragic for the country. No assemblage of politicians except the Republicans would ever conceive of running for the American presidency by running against the Constitution and the rule of law.

Persons: Donald Trump, Republicans ’, Mr, Trump, —, Jan, naïvely Organizations: Republican Party, Republicans, White, Capitol, Republican, White House, Mr

☆ Central banks around the world just made borrowing costs more expensive
▼ + stars: | 2023-06-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The central banks of the UK, Turkey, Norway, and Switzerland all raised interest rates yesterday. The Bank of England is the UK's central bank. Let's start with the Bank of England's decision to raise interest rates by 50 basis points and bring borrowing costs to 5%. Turkey's central bank, meanwhile, raised interest rates by 650 basis points to 15%, which was somehow less than markets expected. Just to cover our bases: Norway's central bank raised its core lending rate by half a percentage point, and Switzerland's policymakers hiked its benchmark rate by a quarter point.

Persons: Phil Rosen, Powell, Myron Jobson, Recep Tayyip Erdogan, Spencer Platt, Jerome Powell's, Goldman Sachs, David Rosenberg, it's, Warren Buffett, Jason Ma, Nathan Rennolds Organizations: Bank of England, Bank of, Interactive, New York Stock Exchange, U.S . House, Dow, Getty, Apogee Enterprises, Homeowners, Apple, Microsoft, Nvidia, S3 Partners, BMO Capital Markets, Berkshire Hathaway, Gates Foundation Locations: Manhattan, Turkey, Norway, Switzerland, Maremagnum, Turkey's, New York City, U.S, New York, Los Angeles, London

☆ These are the 3 biggest fears about AI. Do they really stack up?
▼ + stars: | 2023-06-17 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

An AI takeoverOne of the most commonly cited risks is that AI will get out of its creator's control. Current AI systems are not sentient but they are created to be humanlike. "We need to look at the lack of purpose that people would feel at the loss of jobs en masse," he told Insider. AI biasIf AI systems are used to help make wider societal decisions, systematic bias can become a serious risk, experts told Insider. There have already been several examples of bias in generative AI systems, including early versions of ChatGPT.

Persons: Sam Altman, OpenAI, we're, David Krueger, it's, I'm, Janis Wong, Alan Turing, Aaron Mok, Krueger, Abhishek Gupta, Arvind Krishna, Gupta, Wong Organizations: Center, AI Safety, Cambridge University, Alan Turing Institute, Montreal AI, IBM Locations: Montreal

Storm chaser Brian Emfinger tells CNN that Thursday's tornado cut through some of the main sections of Perryton, Texas. Emfinger said the worst he saw was in the northwest part of town. People there had little warning as the tornado touched down, barreling toward a mobile home park directly in its path, he said. “The storm produced a wall cloud very quickly, and that wall cloud tightened up very rapidly and then it just went to the ground very quickly,” Emfinger said. Usually with a strong tornado, there’s a lot of leeway time for people to prepare, he said.

Persons: Brian Emfinger, ” Emfinger, Emfinger Organizations: CNN Locations: Perryton , Texas, People

☆ 'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
▼ + stars: | 2023-06-10 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Historically, a median pullback in earnings would mean a 15-20% drop in the S&P 500. The Bureau of Labor Statistics announced on June 2 that the US labor market added 339,000 jobs in May — more than economists had expected. Historically, the Fed tightening cycle takes 18 – 24 months to impact the labor market." Madison Hoff/InsiderHistory shows a recession would mean a rough ride ahead for the stock market, Goodwin said. The median S&P 500 price target among major Wall Street strategists is 4,000, which is 7% lower than current levels.

Persons: Lauren Goodwin, Goodwin, Madison Hoff, Michael Kantrowitz, Piper Sandler, Piper Sandler Piper Sandler, it's, Kantrowitz, Morgan Stanley's Mike Wilson, David Rosenberg, —, Louis Organizations: York Life Investments, Labor Statistics, New York Life Investments, Rosenberg Research, Federal Reserve Bank of St

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