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☆ Alibaba and Tencent: China’s internet giants snap up their own shares to boost flagging stock market value
▼ + stars: | 2024-04-03 | by ( Laura He | ) edition.cnn.com time to read: +4 min

That would mark the biggest share repurchase by a Chinese tech company in the past year. The tech giant’s move comes at a time when Chinese regulators have been asking listed companies to repurchase shares to stabilize market confidence. Overall, companies listed in Hong Kong spent 126 billion Hong Kong dollars ($16.1 billion) buying back shares in 2023, the highest on record, according to Chinese financial data provider Choice. Tencent alone accounted for about 40% of total share buybacks in the Hong Kong market. Additionally, the global selling of Chinese assets, driven by geopolitical tensions or concerns about regulatory uncertainties, has further pressured Chinese share prices.

Persons: Alibaba, “, ”, Stephen Innes, Tencent, Xiaomi, ” Innes Organizations: Hong Kong CNN, Alibaba, BABA, Hong Kong, CNN, “ Locations: China, Hong Kong, buybacks, Shanghai, Shenzhen, Hangzhou, Beijing

☆ The Taiwan earthquake is a stark reminder of the risks to the region’s chipmaking industry
▼ + stars: | 2024-04-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

Chipmakers and governments, including the US government, have in recent years invested billions in efforts to diversify chip production, but many experts worry that process is not happening fast enough. TSMC produces an estimated 90% of the world’s most advanced semiconductor chips, which power countless devices people rely on daily. Still, even an hours-long shutdown of certain chip production could take weeks to recover from. The race to diversify chipmakingWednesday’s earthquake will likely only add pressure to efforts underway for years to grow chipmaking capacity outside of Taiwan. Experts say it’s a sign that the diversification of the chip supply chain is not moving quickly enough to account for the risks of remaining concentrated in Taiwan.

Persons: chipmaker, TSMC, ” TSMC, ”, David Bader, ” Bader, facilites, wasn’t, Joe Unsworth, Foxconn —, Angelo Zino, Joe Biden Organizations: New, New York CNN, Taiwan Semiconductor Manufacturing Company, Apple, Qualcomm, Nvidia, AMD, Institute for Data Science, New Jersey Institute of Technology, Barclays, Tech, United Microelectronics Corporation, Micron Locations: New York, Taiwan, chipmaking, China, United, Japan, Germany, United States, Arizona

☆ Why NBC is the wild-card NBA bidder to watch as the league negotiates a new TV deal
▼ + stars: | 2024-04-02 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Why NBC could be a perfect fit for the NBABarring a major upset, ESPN and WBD will continue to broadcast NBA games. The network used to broadcast NBA games nationally starting in 1954, and Comcast still shows games on its regional-sports networks in five markets. Comcast-subsidiary Sky Sports also aired NBA games in the United Kingdom for four years starting in 2019. Moffett, the media analyst and MoffettNathanson cofounder, told BI he sees NBC entering the bidding war for NBA media rights if only to assist its streamer. Unlike ESPN and TNT, NBC doesn't necessarily need NBA games.

Persons: it's, supercharge Peacock, Peacock, Craig Moffett, Nielsen, That's, Will, Moffett, Joseph Bonner, WBD's, Bonner Organizations: NBA, ESPN, Warner Bros, TNT, Business, Apple, Netflix, NBC, Comcast, WBD, Diamond Sports, NFL, Premier League, Sky Sports, Moffett, BI, Argus Research, Disney, Fox, Google Locations: United Kingdom

☆ Exclusive: Electronic prescribing giant Surescripts is exploring a sale
▼ + stars: | 2024-04-02 | by ( Rebecca Torrence | Blake Dodge | ) www.businessinsider.com time to read: +1 min

Surescripts is up for sale and has hired a bank to search for potential buyers, including private equity firms. The company dominates electronic prescribing, processing 2.5 billion prescriptions in 2023. Surescripts, the healthcare technology company that facilitates most electronic prescribing in the US, is exploring a sale, Business Insider has learned. The privately-held company hired healthcare investment bank TripleTree and is looking for potential buyers, including private equity firms, according to two people with knowledge of the deal. Surescripts, formed by a merger in 2008, has long dominated e-prescribing, providing the connectivity that allows doctors to send prescriptions from their electronic health records to pharmacies.

Persons: Surescripts Organizations: CVS Health, Business

☆ India wants to become the top manufacturing alternative to China. But first it needs to beat Vietnam
▼ + stars: | 2024-04-02 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +6 min

The Biden administration has encouraged American companies to move electronics and technology manufacturing operations out of China and into friendlier countries, particularly Vietnam and India in Asia-Pacific. Vietnam's head startIndia and Vietnam are attractive manufacturing alternatives for foreign investors and companies, due in part to low labor costs. Import taxes remain highOne hurdle for India's manufacturing hub ambitions is the country's 10% import duty for information and communication technologies. India's import taxes were intended to protect domestic manufacturers, but lowering those duties will be part of the government's efforts to attract foreign firms to manufacture goods within the country. For example, India in January lowered import taxes for certain metal and plastic parts used in manufacturing mobile phones from 15% to 10%.

Persons: Biden, Mukesh Aghi, Samir Kapadia, Narendra Modi's, Aghi, Nari Viswanathan, Viswanathan, Tim Cook, Narendra Modi, Andy Ho, Modi, Kapadia, Pankaj Mahindroo, VinaCapital's Ho, Ho Organizations: Hindustan Times, Getty, Republicans, U.S ., India Strategic Partnership, India Index, Vogel Group, U.S, White House, Washington, Financial Times, Apple, Indian, Google, Dixon Technologies, Samsung, Motorola, India Cellular and Electronics Association, CNBC, corporates Locations: Noida, India, Asia, China, Vietnam, The U.S, U.S, United States, Singapore

☆ Another analyst is saying 'all AI roads' lead to this under-the-radar global chip stock
▼ + stars: | 2024-04-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The boom in demand for artificial intelligence leads back to this global chip supplier, according to Susquehanna. Analyst Mehdi Hosseini upped his estimates on the semiconductor manufacturer Taiwan Semiconductor Manufacturing as wafer average selling prices improve, saying that "all AI roads originate from TSM." The firm joins JPMorgan in asserting that "all AI roads" lead to the global chipmaker. Taiwan Semiconductor is coming off a strong start to 2024. Taiwan Semiconductor, a supplier to chip giants such as Nvidia , Advanced Micro Devices and Qualcomm , could rally another 27% based on the firm's $180 price target.

Persons: Mehdi Hosseini, TSM Organizations: Taiwan Semiconductor Manufacturing, Taiwan Semiconductor, JPMorgan, Susquehanna, Semiconductor, Nvidia, Devices, Qualcomm Locations: Susquehanna, TSM, U.S

☆ Wall Street is getting nervous about Tesla
▼ + stars: | 2024-04-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why Wall Street is getting nervous about Tesla . South China Morning PostEarnings season is approaching, and Wall Street's already ringing the alarm on a high-profile company. AdvertisementTesla won't report its full earnings until later this month, but Wall Street is preparing for trouble. One analyst called it a "nightmare" quarter for the company, while another firm labeled Tesla "a growth company with no growth." One strategy is getting more Tesla drivers subscribed to its Full Self-Driving software, which can run $199 monthly.

Persons: —, Wall, Insider's Beatrice Nolan, Tesla, It's, that's, Elon Musk, ANDERSEN, Alyssa Powell, Donald Trump's, Ken Griffin's, Claire Merchlinsky, MoviePass, Ted Farnsworth, Manoj Bhargava, Putin, Elvira Nabiullina's, Forbes, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tesla, China, Bloomberg, Nvidia, Meta, Microsoft, Apple, Getty, BI Trump Media, SEC, Citadel, BI, Street Journal, Authentic Brands, Energy, Bank of Russia, The Locations: China, Russia's, Connecticut , Delaware , New York, Rhode Island, Wisconsin, New York, London

☆ Fast-food chains like Burger King, Shake Shack, and KFC are doubling down on digital order kiosks — but watch out, you'll probably end up spending more
▼ + stars: | 2024-04-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Fast-food giants are rapidly deploying more order kiosks in the US. AdvertisementMajor US fast-food chains plan to aggressively add more digital order kiosks to their restaurants – and bring in bigger checks in the process. They make up "well over" half of its in-restaurant orders at these locations, CFO Katie Fogertey told investors in November. As well as labor savings, kiosk orders "tend to skew to dine-in" and thus use less packaging than other digital orders, she said. In the US, digital orders currently make up just 15% of Burger King's sales.

Persons: Patrick Doyle, —, Burger, Josh Kobza, Shack, Katie Fogertey, Chris Turner, Turner, Sharon Zackfia, William Blair, Fogertey, Grace Dean, Randy Garutti, cashiers, Fogerty, Andy Barish, Jon Tower, Kobza, Zackfia, Barish, Popeyes, Tim Hortons Organizations: Service, Restaurant Brands, Brands, Taco Bell, KFC, Business, Jefferies, Citi, Burger, Firehouse, North Star Locations: Taco, China, London, millennials

We've put together everything you need to know about the show's new season, including where to watch All American from anywhere. If you want to tune in live but don't have cable, we've got you covered with a great live TV package. ETWhere to watch All American live in the USAll American airs Mondays at 8 p.m. Starting at $76.99 a month, Hulu + Live TV comes with The CW and over 90 other live TV channels. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus.

Persons: It's, We've, Spencer James, Daniel Ezra, Spencer Paysinger, Spencer, Jordan, Michael Evans Behling, we've, Hulu's, ExpressVPN Organizations: Business, Beverly Hills, Giants, NFL, Hulu, CW, Disney, ESPN, Disney Plus, Netflix Locations: Riverdale, South Los Angeles, USA, ExpressVPN, Hulu

Starting Monday, fast-food workers in California at chains with more than 60 national locations earn $20 an hour, higher than the state's broader minimum wage of $16 per hour. California pay is already highwatch nowWhile the new fast-food minimum wage is among the highest in the U.S., California employers are used to paying more for their labor. Even when it is not mandated, restaurants usually find themselves paying more than the minimum wage to attract hourly workers. As a full-service restaurant chain, the company won't be obligated to pay its California workers $20 an hour. Advocates prepare to go biggerFrom start to finish, the California law, which was backed by the Service Employees International Union, has been controversial.

Persons: David Paul Morris, Gavin Newsom, Matthew Haller, Daniel Zhao, Zhao, Lauren Crabbe, she's, Crabbe, Matthew Clark, Jennifer B, Perez, I'm, it's, Newsom, Greg Flynn, Flynn Organizations: McDonald's Corp, Bloomberg, Getty, International Franchise Association, CNBC, Bureau of Labor Statistics, Service Employees International Union, Gov, SEIU Locations: Oakland , California, U.S, California, , California, Fresno, San Francisco, Long Beach

☆ Two industrial giants to complete spinoffs this week
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo industrial giants to complete spinoffs this weekStephanie Link, CIO at Hightower, joins CNBC's 'Halftime Report' to discuss the upcoming breakups of GE and 3M.

Persons: Stephanie Link, Hightower Organizations: GE

☆ I've been a tech recruiter for 19 years for giants like Google. These are the 4 questions you should ask at the end of an interview.
▼ + stars: | 2024-04-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

NEW LOOK 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 . Related storiesHere are four questions I would ask at the end of my interviews. It is always nice to hear people ask questions about which team they'll join and how many peers they will have. For startups, this could be funding-related challenges; for tech companies, it could be shifting to new software.

Persons: Dhritiparna Dhar, —, I've, they'll, shubhangigoel@insider.com Organizations: Service, Yahoo, Google, Dell Locations: Bengaluru, India

☆ Meme stocks are back in fashion. Here's how to find one.
▼ + stars: | 2024-04-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're breaking down how to identify a meme stock . Three years after GameStop upended things, meme stocks are back in fashion. But how does one find a meme stock? (Trump Media doesn't technically qualify as a meme stock under Sosnick's criteria due to the amount of low short interest. Maintaining long-term support for a meme stock remains a tough nut to crack.

Persons: —, Mark Zuckerberg, Satya Nadella, Jenny Chang, Rodriguez, There's, Steve Sosnick, Business Insider's Matthew Fox, David Becker, Chelsea Jia Feng, Donald Trump's, Trump, Bill Gross, BI's Peter Kafka, there's, it's, Pedro Ribeiro Simões, …, Matt Chase, they're, OpenAI's Sam Altman, Sora, Meta, Tyler Le, Jack Canfield's, Jay Marine, Amazon's, Jeff Bezos, Antony Blinken, Emmanuel Macron, Dan DeFrancesco, Hallam Bullock, Grace Lett, Lisa Ryan Organizations: Business, Service, Getty, GameStop, Interactive, Business Insider's, Trump Media, Technology Group, AMC Entertainment, Big Tech, Hollywood, Facebook, NBA, FOX Locations: YOLO, hodlers, Silicon, Paris, Ukraine, Gaza, New York, London, Chicago

☆ How Big Tech Companies Sabotage New Startups — From the Inside
▼ + stars: | 2024-04-01 | by ( Adam Rogers | ) www.businessinsider.com time to read: +14 min

They don't replace the tech giants — they just get bought by the tech giants. A new paper by two leading scholars suggests that these days, Big Tech doesn't have to resort to buyouts to crush aspiring startups. At this point, Big Tech looks at promising startups the way evil alien empires in science fiction look at helpless planets. The data that Big Tech shares — or doesn't share — can play an instrumental role in shaping a startup's work. Finally, the big companies use their clout on Capitol Hill in an effort to impose stricter regulations on the startups they're ostensibly trying to help.

Persons: that's, That's, Joe Biden, Mark Lemley, Matt Wansley, they're, Wansley, Who, Lemley, Sam Altman, Satya Nadella, Barbara Ortutay, Florian Ederer, Elon Musk, OpenAI, Marc Andreessen, watchdogs, Ederer, Anthropic, Adam Rogers Organizations: Apple, Meta, Microsoft, Federal Trade Commission, Justice Department, Big Tech, Stanford University, Cardozo School of Law, Google, Facebook, Star, Yale, London Business School, Tech, Boston University, titans, IBM, Dells, Business Locations: Silicon Valley, —

☆ Opinion | Deep-Sixing Pornographic Deepfakes for Good
▼ + stars: | 2024-03-31 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Deepfake Violations, Met With a Shrug,” by Nicholas Kristof (column, March 24):Mr. Kristof underscores the urgent need to address the distressing prevalence of nonconsensual A.I. sexual content online and in top search engine results, to protect individuals, particularly the women and girls overwhelmingly targeted, from exploitation and harm. I urge all readers to raise their voices by sending letters, emails or open letters tagged on social media and LinkedIn to Google and Microsoft Bing executives and social media teams. Our collective advocacy can amplify the call for these tech giants to take proactive measures in removing such content from their search results. ‘After school, I came home, and I told my mom we need to do something about this.’

Persons: Nicholas Kristof, Mr, Kristof, Microsoft Bing, Brittany Poley, Nicholas Kristof’s, ’ Francesca, ‘, ’ Organizations: Google, Microsoft Locations: ”, Brittany, Brittany Poley Washington

☆ A startup wants to build the world's largest cargo plane big enough to carry wind turbines the size of a football field — take a look
▼ + stars: | 2024-03-30 | by ( Lloyd Lee | Taylor Rains | ) www.businessinsider.com time to read: +7 min

Radia, a Colorado-based startup, wants to build the world's largest cargo plane. Billed the WindRunner, the plane's sole purpose is to carry oversized wind turbine blades. Its sole purpose: to deliver giant wind turbine blades. A rendering visualizes one of the obstacles of transporting a large wind turbine blade by ground. WindRunner joins the lucrative oversized cargo marketRadia joins the niche network of aerospace companies manufacturing giant planes to carry over-sized cargo, like heavy machinery, military tanks, helicopters, and satellites.

Persons: —, Mark Lundstrom —, Radia Radia, Antonov, GLEB GARANICH, Radia, Mark Lundstrom, WindRunner, Ruslan, Jens Schlueter, Robert Sorbo Organizations: Service, MIT, Office of Energy, Renewable Energy, Boeing, Business, Russian, Getty, Aircraft, Airbus, Airbus Beluga Transport Locations: Colorado, Russia, Soviet, Radia, Ukrainian

A significant chunk of that money was strategic, in that it came from tech companies rather than venture capitalists or other institutions. The company has refocused much of its product development on generative AI, and its newly rebranded Gemini model, adding features into search, documents, maps and elsewhere. Alphabet and Nvidia are also investors in Runway ML, a generative AI company known for its video-editing and visual effects tools. Microsoft has invested in many of the techniques underpinning generative AI through its Microsoft Research division. Apple researchers recently published details of their work on MM1, a family of small AI models that can take both text and visual input.

Persons: Satya Nadella, Sam Altman, Justin Sullivan, Claude, Fred Havemeyer, Havemeyer, that's, Anthropic, Gemini Ai, Michael M, It's, Amy Hood, dealmaking Daniel Newman, Mustafa Suleyman, Newman, Lina Khan Organizations: Getty, Getty Images Tech, aren't, GPT, Microsoft, Meta, Apple, Nvidia, Google, Web Services, Amazon, Santiago, AMD, Runway ML, Mistral, Big Tech, Microsoft Research, Baidu, Futurum, Anthropic, Federal Trade Commission Locations: San Francisco, Macquarie, Anthropic, New York City, Mistral, U.S, China

BEIJING (AP) — Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country's booming but crowded market for electric cars. The tech company will start taking orders for the SU7, a sporty four-door sedan, following a launch event with founder Lei Jun in Beijing on Thursday evening. Government subsides have helped make China the world's largest market for electric vehicles, and a bevy of new makers are locked in fierce competition. "I believe that one day, Xiaomi EVs will be a familiar sight on roads around the world,” he was quoted as saying in a company news release. “China is determined to dominate the future of the auto market, including by using unfair practices,” President Joe Biden said when the U.S. investigation was announced.

Persons: —, Lei Jun, Lei, Xiaomi, Le, ”, automaking, “, ” Le, Joe Biden, I’m Organizations: BEIJING, Analysts, Fitch, Sino, Insights, EU, U.S, Trade Organization, U.S . Defense Department, U.S . Locations: China, Beijing, American, U.S

☆ MLB Opening Day: 2024 regular season kicks off in full with Shohei Ohtani cloud looming
▼ + stars: | 2024-03-28 | by ( Ben Morse | ) edition.cnn.com time to read: +6 min

CNN —Although fans have been treated to a glimpse of MLB action, the 2024 season kicks off in full on Thursday with Opening Day. How to watchThe Opening Day slate of games takes place on Thursday, March 28, with 26 teams taking to the field. The Baltimore Orioles and the Los Angeles Angels kick off the day’s action at 3:05 PM ET at Camden Yards in Maryland. Ohtani cloud overshadows Dodgers startThe majority of the Los Angeles Dodgers offseason was dominated with optimism and talk of a World Series challenge after the acquisition of two-time MVP Shohei Ohtani and pitching phenom Yoshinobu Yamamoto. Ohtani prepares for a pitch during the Dodgers' preseason game against the Los Angeles Angels.

Persons: Tuesday’s Francis Scott Key, Shohei Ohtani, phenom Yoshinobu Yamamoto, Ohtani, Ippei, Mizuhara, Yamamoto, Mookie Betts, Freddie Freeman, Will Smith, Tyler Glasnow, Walker Buehler, Harry, Juan Soto, Soto, Aaron Judge, Giancarlo Stanton, Gerrit Cole, Stanton, Nathan Ray Seebeck, Ronald Acuña Jr, Acuña, Tim Nwachukwu, Wyatt Longford Organizations: CNN, Seoul, Los Angeles Dodgers, San Deigo Padres, MLB, Baltimore Orioles, Los Angeles Angels, Camden, Orioles, Dodgers, ESPN, Los Angeles Times, baseball’s, League, St, Louis Cardinals, Bronx Bombers, New York Yankees, Yankees, San Diego Padres, San, American League, Houston Astros, Judge, Atlanta Braves, Philadelphia Phillies, National League, Braves, NL, Phillies, National, Texas Rangers, Chicago Cubs, Washington Nationals, Cincinnati Reds, San Francisco Giants, Toronto Blue Jays, Tampa Bay Rays, Minnesota Twins, Kansas City Royals, Detroit Tigers, Chicago White Sox, Pittsburgh Pirates, Miami Marlins –, Cleveland Guardians, Oakland Athletics –, Colorado Rockies, Arizona Diamondbacks, Boston Red Sox, Seattle Mariners, Milwaukee Brewers, New York Mets, @ @ @ @ @ @ @ @ @ Locations: South Korea, Camden Yards, Maryland, Seoul, Ohtani, San Diego, Atlanta, Texas

☆ This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners
▼ + stars: | 2024-03-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Semiconductor stocks are off to another hot start to the year. The VanEck Semiconductor ETF (SMH) is up 28.5% in the first three months of 2024. That puts the SMH on pace for its biggest quarterly gain since the first quarter of 2023, when it jumped 30%. The stock is up more than 30% to start 2024. Shares have skyrocketed more than 39% to start 2024, helped by strong sales in high bandwidth memory necessary in AI infrastructure.

Persons: Ken Mahoney, Nvidia, Hendi, Management's Paul Meeks, Andrew Garthwaite cautioning Organizations: VanEck Semiconductor, Asset, Taiwan Semiconductor Manufacturing, Nvidia, Qualcomm, Apple, Devices, JPMorgan, PHLX Semiconductor, Intel, Micron Technology, Micron, UBS, Universal Locations: Taiwan

☆ What Home Depot’s $18 billion deal says about its strategy
▼ + stars: | 2024-03-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —In its largest acquisition ever, Home Depot is expanding its business targeting professional contractors and builders as the home fixer-upper market stalls. SRS, which will operate independently, Home Depot noted, has 760 warehouses and more than 4,000 trucks to deliver its goods. Home Depot in recent years has purchased other businesses targeting professionals who undertake both complex and simple housing projects. Home Depot’s push for pro customers comes as its DIY customers have slowed their spending. Home Depot expects the SRS acquisition, accomplished through a mix of cash and debt, to be completed by the end of the year, but it could face regulatory hurdles.

Persons: Billy Bastek, Lina Khan Organizations: New, New York CNN, Home Depot, Home, Depot, Federal Trade, Meta, Microsoft, Kroger Locations: New York

☆ Inside the AI talent-hiring frenzy
▼ + stars: | 2024-03-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe fight to hire the best AI talent is heating up as companies large and small compete in the race to create the best products in the booming sector. Last week, Mustafa Suleyman, the cofounder of Google's DeepMind, left his startup Inflection AI to lead tech giant Microsoft's consumer AI division as CEO. "AI talents are some of the most highly compensated in today's job market," Alex Libre, the cofounder and principal recruiter of Einstellen Talent, a service that matches job candidates with generative AI startups, told BI. Related stories"There is undoubtedly a shortage in AI talent," Libre says.

Persons: —, Mustafa Suleyman, Google's DeepMind, Aravind Srinivas, pricey, Sam Altman's, OpenAI, Salesforce, J.T, O'Donnell, Alex Libre, He's, They're, Ray, Flavien, Coronini Organizations: Service, Meta, Business, Big Tech, Companies, Tech, Libre, Big, . Workers, Microsoft

☆ Big changes could be coming to the way we pay for things
▼ + stars: | 2024-03-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're examining how a change in credit cards' behind-the-scenes fees impacts you… and your points . Under the settlement, merchants could charge customers more for using different cards despite being part of the same Visa or Mastercard network. AdvertisementTim Boyle/Getty Images; Jenny Chang-Rodriguez/BIThe agreement could ultimately reshape how consumers pay for things. AdvertisementPerhaps that's why one analyst told Business Insider's Alex Bitter he doesn't expect major retailers to pass swipe fees along to customers. But maybe, not unlike the fees the agreement targets, what seems small could eventually add up to something big.

Persons: —, Jenny Chang, Rodriguez, Insider's Grace Eliza Goodwin, Tim Boyle, David Morris, Alex Bitter, LUDOVIC MARIN, BlackRock's Larry Fink, Jeremy Grantham, Ian Shepherdson, That'll, We've, Meta, Mark Zuckerberg, Facebook execs, Francis Key Scott, Hunter Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Nickelodeon, Business, Mastercard, Visa, Getty, Fed, Amazon, BI Locations: Europe, LUDOVIC, Baltimore, Port, New York, London

A settlement that could scramble the credit card businessA long-running fight between the credit card giants Visa and Mastercard and retailers in the United States is nearing an end, with the promise of lower fees for merchants. But the proposed class-action settlement could have wider consequences, including for the lucrative business of high-end credit cards — and for retailers. What’s in the settlement: Visa and Mastercard said on Tuesday that they had agreed to reduce swipe fees, costs associated with the use of a credit card, for about five years. Perhaps more important, merchants will be able to raise their prices based on the kind of card. For example, buying groceries with a higher-fee card — typically a premium card like the Chase Sapphire Reserve — could become more expensive than paying with a lower-end one.

Organizations: Visa, Mastercard, Chase Locations: United States

The companies announced an initial $1.25 billion investment in September, and said at the time that Amazon would invest up to $4 billion. The deal was struck at the AI startup's last valuation, which was $18.4 billion, according to a source. Over the past year, Anthropic closed five different funding deals worth about $7.3 billion — and with the new Amazon investment, the total exceeds $10 billion. News of the Amazon investment comes weeks after Anthropic debuted Claude 3, its newest suite of AI models that it says are its fastest and most powerful yet. But multimodality, and increasingly complex AI models, also lead to more potential risks.

Persons: Claude, Anthropic, OpenAI's, what's, Swami Sivasubramanian, OpenAI's ChatGPT, OpenAI, Microsoft's OpenAI, Anthropic's Claude, Daniela Amodei, We've, Tesla, Brendan Burke, Bill Gurley, Gurley, Microsoft's, Lina Khan Organizations: Amazon, Google, CNBC, Fortune, Nvidia, Microsoft, Apple, U.S . Federal Trade Commission Locations: San Francisco, Anthropic, OpenAI

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