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☆ Oppenheimer says bank stocks are ‘significantly undervalued’ and gives its top picks
▼ + stars: | 2024-01-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

It's time for investors to shake off the fear of bank stocks created by last year's deposit outflows and regional bank failures, according to Oppenheimer. Analyst Chris Kotowski said in a report to clients on Tuesday that bank stocks are "significantly undervalued," highlighting that the KBW Bank Index finished 2023 down 4.8% for the year, or 29 percentage points behind the S & P 500. That gap is too large to justify even with the collapse of a few regional banks such as Silicon Valley Bank, Kotowski said. The firm's top two bank stocks are Goldman Sachs and Jefferies , both of which can serve as a bet on a rebound in the capital markets business. Kotowski also recommended several other large bank stocks, including Bank of America , JPMorgan Chase and U.S. Bancorp .

Persons: Oppenheimer, Chris Kotowski, Kotowski, Goldman Sachs, David Solomon, Jefferies, Goldman, JPMorgan Chase, —, CNBC's Michael Bloom Organizations: KBW, Silicon Valley Bank, Jefferies, Goldman, LSEG, Bank of America, JPMorgan Chase, U.S . Bancorp, JPMorgan Locations: Silicon, LSEG

☆ Russian Shelling Kills Four in Northern Ukraine, One in Devastated Avdiivka
▼ + stars: | 2024-01-29 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Russian shelling in northern Ukraine killed four people in two villages in Sumy region near the Russian border, while a woman died in a fresh assault on the devastated eastern Ukrainian town of Avdiivka, local officials said. The local administration in Sumy region said three people died in mortar fire in the village of Znov-Novohorodske. Reuters could not verify the reports, but officials in Sumy region report daily attacks from Russian forces. It has remained in Ukrainian hands in Russia's slow drive through eastern Ukraine despite fierce onslaughts since mid-October. The General Staff of Ukraine's armed forces, in its evening report said Ukrainian forces had repelled 13 Russian attacks in and around Avdiivka in the past 24 hours.

Persons: Suspilne, Avdiivka, Natalia Humeniuk, Ron Popeski, Nick Starkov, Michael Perry Organizations: Reuters, General, Military Locations: Ukraine, Sumy, Russian, Avdiivka, Znov, Ukrainian, Dnipro, Russia, Kherson

For instance, the U.S. has blocked shipments of cotton coming from China, a top manufacturer of popular clothing brands, because it was produced by forced or prison labor. While prison labor seeps into the supply chains of some companies through third-party suppliers without them knowing, others buy direct. Cargill acknowledged buying goods from prison farms in Tennessee, Arkansas and Ohio, saying they constituted only a small fraction of the company’s overall volume. For instance, about a dozen state prison farms, including operations in Texas, Virginia, Kentucky and Montana, have sold more than $60 million worth of cattle since 2018. “What for?”FOLLOWING THE MONEYThe business of prison labor is so vast and convoluted that tracing the money can be challenging.

Persons: it’s, Willie Ingram, “ They’d, billy clubs, they’d, ”, Ingram, didn’t, they’re, don’t, Andrea Armstrong, Frank Dwayne Ellington, Ellington, Koch, “ It’s, it’s somebody’s, Alishia Powell, Clark, “, Bunge, Louis Dreyfus, Archer Daniels, Cargill, ” McDonald’s, Mills, ” Bunge, Burger, Jermaine Hudson, ” Hudson, Calvin Thomas, Thomas, Ken Pastorick, Pastorick, Jennifer Turner, Faye Jacobs, Jacobs, ’ ” David Farabough, they’ve, Joshua Sbicca, Cliff Johnson, Jimmy Dean, Sara Lee, Tyson, Brevard County Sheriff Wayne Ivey, that’s, ” Ivey, “ They’re, ’ ”, William “ Buck ” Saunders, Hickman’s, Brooke Counts, Counts, John’s, Jack Strain, Tammany Parish, Russell Stover, Curtis Davis, Robert Bumsted, Cody Jackson, Columbia University’s Ira A, Lipman Organizations: Louisiana State Penitentiary, The Associated Press, Walmart, Cargill, U.S, Kroger, Target, Aldi, Corrections, Loyola University New Orleans, Koch Foods, Occupational Safety, Health Administration, Washington, Archer Daniels Midland, Consolidated, AP, Foods, Dairy Farmers of, Big, Sam’s, Tyson Foods, U.S ., Civilian, OSHA, Fair Labor, American Civil Liberties, Colorado State University, MacArthur Justice Center, University of Mississippi, PepsiCo, Brevard County Sheriff, Arizona . Companies, Costco, Correctional, Prisons, Nut, Maine Foods, Taylor Farms, Transitional, Associated Press, Public Welfare Foundation, Columbia, Lipman Center for Journalism, Arnold Ventures Locations: ANGOLA, La, Southern, Louisiana, Texas, In Louisiana, Angola, United States, “, Ashland, U.S, China, Tennessee , Arkansas, Ohio, Dairy Farmers of America, Texas , Virginia, Kentucky, Montana, Baton Rouge, Mississippi, Manhattan, America, Alabama, American, Arkansas , Texas, Florida , Alabama, South Carolina, Georgia, Arkansas, In Alabama, Florida, Brevard County, Arizona, Wisconsin, California, Colorado, state’s St, Tammany, Idaho, In Kansas, Cal, St, Francisville , Louisiana, Feliciana, Investigative@ap.org

☆ China's luxury market is bouncing back with new areas of opportunity
▼ + stars: | 2024-01-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

The company's results showed that despite some resumption of overseas travel, more of China's consumers are buying luxury products at home. watch nowThe mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. "All of that data points to the importance of the Chinese luxury consumer and the China market," she told CNBC. Luxury brands have increasingly turned to online channels to ensure customer engagement, said Xing from Bain. As companies compete for a slice of the Chinese consumer market, one emerging segment is bedding and fine linen.

Persons: Louis Vuitton, they're, LVMH, Bernard Arnault, that's, Bain, Weiwei Xing, Cartier, Richemont, Burkhart Grund, Xing, Ding Shizhong, Ashley Dudarenok Organizations: Future Publishing, Getty, BEIJING, Bain & Company, CNBC, Consumers Locations: Shanghai, China, Hong Kong, Greater China, Macao, Bain

☆ Taylor Swift will need to time travel to attend the Super Bowl
▼ + stars: | 2024-01-29 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Read previewThe Kansas City Chiefs on Sunday won their playoff game against the Baltimore Ravens 17-10, taking them to the Super Bowl for the second year in a row. The concert, scheduled for 6 p.m. local time in Tokyo, starts at 1 a.m. Las Vegas time. "Let's say it's a five-hour concert, ends about 11 p.m. local, which is 6 a.m. Saturday in Las Vegas," Rapoport added. "Figure a 12-hour flight, maybe she leaves about an hour later, Taylor Swift could still get to the Super Bowl, to Vegas, about 7 or 8 p.m. Saturday night — just in time to party." Super Bowl LVIIIThe Detroit Lions and San Francisco 49ers are now facing off to see who takes the second slot at Super Bowl LVIII, which will, for the first time, be hosted in Las Vegas and is expected to rake in record levels of sports betting.

Persons: —, Taylor Swift, Swift, Travis Kelce, it's, she'll, Ian Rapoport, Rapoport, KMBC, Lewis Townes, Usher, Patrick Mahomes, they'll Organizations: Service, Kansas City Chiefs, Sunday, Baltimore Ravens, Super Bowl, Business, Chiefs, NFL, Super, Las Vegas, American Airlines, Las Vegas Operations, Detroit Lions, San Francisco 49ers, New England Patriots Locations: Japan, Vegas, Tokyo, Las Vegas, Kansas City

☆ You might be paying twice as much by ordering takeout food on DoorDash or Postmates, new study says
▼ + stars: | 2024-01-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Besides tips and service fees, restaurants often also charge higher menu prices for delivery orders. AdvertisementOrdering takeout food for delivery might cost you twice as much as picking it up yourself, depending on the delivery service you use, according to a new study. AdvertisementFinanceBuzz compiled its data by ordering food from various national restaurant chains on DoorDash, Grubhub, Postmates, and Uber Eats. Delivery orders from the fried chicken chain were between 82% and 149% more expensive than pickup, depending on which delivery service customers ordered from. AdvertisementDo you work for Instacart, DoorDash, Walmart Spark, or another delivery service and have a story idea?

Persons: —, FinanceBuzz, DoorDash, Grubhub, Uber, Gruhub Organizations: Service, Uber, Panda Express, Walmart Locations: Southern California, DoorDash

☆ China surrounding Taiwan would be enough to drag the US into military conflict, said the majority of 52 US experts
▼ + stars: | 2024-01-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

The US military is likely to intervene if China enacts a quarantine or blockade in China, experts say. Almost all of the surveyed experts — 96% — said the US would join the fight if China were to fully invade Taiwan. Experts aren't confident that US allies will get involvedHowever, the experts weren't as confident that US allies would jump into the conflict. Meanwhile, 60% of the experts were confident that US allies would assist militarily if China were to invade the island. CSIS also surveyed 35 experts and scholars from Taiwan, who were less optimistic about US intervention.

Persons: —, Joe Biden, Xi Jinping, William Lai Ching, Tsai Ing, Beijing's, Xi Organizations: CSIS, Pentagon, Service, Center, Strategic & International Studies, People's Liberation Army, APEC, Democratic Progressive Locations: China, Taiwan, Beijing, Washington, Taipei, San Francisco

☆ Austin experimented with giving people $1,000 a month. They said they spent the no-strings-attached cash mostly on housing.
▼ + stars: | 2024-01-28 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Read previewPeople who received guaranteed basic income in one of Texas' largest cities reported reduced rates of housing insecurity. Austin was the first city in Texas to launch a taxpayer-funded guaranteed-income program when the Austin Guaranteed Income Pilot kicked off in May 2022. On average, program participants said they spent more than half of the cash they received on housing. While Austin was the first city in Texas to test a guaranteed-income program, it's now not the only one. AdvertisementAnd in Denver, a basic-income program that gives some people up to $1,000 a month was recently extended after participants reported increased housing security .

Persons: —, Austin, Taniquewa Brewster, KXAN, it's, Sen, Paul Bettencourt, Bettencourt, Tonaeya Moore Organizations: Service, Business, Austin, Urban Institute, NBC, Houston Chronicle, Baltimore Young Locations: Texas, City of Austin, Washington, DC, Houston, Harris County, United States, Baltimore, Maryland, Denver

☆ A man opened a plane's emergency exit and walked onto its wing after his flight was delayed on the tarmac for 4 hours. His fellow passengers are now defending him: 'He saved our lives'
▼ + stars: | 2024-01-28 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

An Aeromexico passenger opened a plane's emergency exit and walked onto the wing on Thursday. AdvertisementAn Aeromexico passenger opened a plane's emergency exit and walked onto the wing, but his fellow travelers are defending — not criticizing — his actions. They added that the man who opened the emergency exit acted "to protect everyone, with the support of everyone." It's not the first time a passenger has ventured onto a plane's wing or opened an emergency exit in recent months. In July, a passenger tried to open an AirFrance emergency exit midair to ensure it worked properly.

Persons: —, Justin Sullivan, AM762, Aeromexico, It's Organizations: Service, Mexico International, Associated Press, AP, Passengers, Flightradar24, Business, Southwest Airlines Locations: Mexico, Mexico City, Guatemala, Louisiana

☆ Trump White House Pharmacy Improperly Provided Drugs and Misused Funds, Pentagon Report Says
▼ + stars: | 2024-01-28 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

By Ahmed AbouleneinWASHINGTON (Reuters) - The White House Medical Unit during the Trump administration provided prescription drugs, including controlled substances, to ineligible staff and spent tens of thousands of dollars more on brand-name drugs than what generic equivalents would have cost, a Pentagon report shows. The unit, part of the White House Military Office, did not comply with federal government and Department of Defense guidelines, the report, which was released on Jan. 8, found. Ineligible staffers received free specialty care and surgery at military medical facilities and were provided with prescription drugs including controlled substances, in violation of federal law, the report also found. "The White House Medical Unit's pharmaceutical management practices ineffectively used DoD funds by obtaining brand‑name medications instead of generic equivalents and increased the risk for the diversion of controlled substances," it said. Opioids and sleeping medications were not properly accounted for and were tracked using error-filled or unreadable handwritten records, the report said.

Persons: Ahmed Aboulenein WASHINGTON, Trump, ineffectively, Barack Obama, Donald Trump, Lester Martinez, Lopez, Ahmed Aboulenein, Leslie Adler Organizations: White, Medical Unit, Pentagon, Military Office, Department of Defense, Medical, Military Health

☆ Chinese stocks are starting to turn around. How to play it
▼ + stars: | 2024-01-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese stocks ended the week with four straight days of gains — a rare upswing after a dismal start to the year. "Investing in China, you have to have an active strategy," he said, emphasizing the need to focus on industries that receive policy support. All three are listed on mainland Chinese stock exchanges. In the past six months, foreign investors have pulled around $30 billion from mainland Chinese A shares, the report said. Citi analysts also include adidas and Kone in their basket of European stocks with China exposure.

Persons: David Chao, Chao, Pan Gongsheng, Edward Chan, Schelling Xie, Xie, CRRC, —, Peter Alexander, Alexander, — CNBC's Michael Bloom Organizations: Asia Pacific, People's Bank of China, PBOC, . Federal Reserve, Financial Regulatory Administration, CNBC, HSBC, Hong, Citi, adidas, Kone Locations: Asia, Japan, Invesco, China, Beijing, Hong Kong, Shanghai, U.S

☆ Baldur's Gate 3 made more than $650 million last year, proving video games don't need microtransactions to succeed
▼ + stars: | 2024-01-28 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Baldur's Gate 3 made more than $650 million on Steam last year. Games that don't rely on microtransactions, in fact, dominated the bestsellers list for 2023. AdvertisementBaldur's Gate 3 smashed expectations, raking in hundreds of millions of dollars last year, proving that not all top-selling games have to have a battle pass. AdvertisementBaldur's Gate 3 was the top-selling game on the platform, outselling its closest competitor — Hogwarts Legacy — by $316 million, according to the report. One of the top trends last year among the top-selling games on Steam was a "lack of microtransactions."

Persons: —, Fortnite Organizations: Steam, Service, Larian, Book, North Carolina Better Business, Epic Games Locations: Baldur's, North Carolina

LONDON (AP) — Climate activist Greta Thunberg joined a march in southern England on Saturday to protest the use of private jets and the expansion of an airport. Hundreds of local residents and activists holding banners and placards that read “Ban Private Jets" marched to Farnborough Airport, which mostly serves private aircraft. Groups working to fight climate change, including the organizer of Saturday's protest, Extinction Rebellion, say private jets are much more polluting than commercial passenger airliners. “It is clear that private jets are incompatible with ensuring present and future living conditions on this planet," Thunberg said in a video that Extinction Rebellion posted on social media. ___Follow AP's coverage of climate change at https://apnews.com/climate-and-environment.

Persons: Greta Thunberg, Thunberg, We're Organizations: —, Jets, Farnborough Airport, Farnborough, Energy Intelligence Locations: England, Hampshire County, London, Swedish

☆ Rudy Giuliani has claimed that Donald Trump could owe him 'unpaid legal fees' in a new filing
▼ + stars: | 2024-01-27 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Read previewDonald Trump's former lawyer, Rudy Giuliani, has suggested the former president has not paid some of his legal fees in a new bankruptcy filing. He listed a "possible claim for unpaid legal fees against Donald J. Trump" in response to a question about any potential outstanding claims but did not specify how much he might be owed. AdvertisementThe New York Times previously reported that Giuliani had repeatedly unsuccessfully appealed to Trump to pay his overdue legal fees. His recent efforts to raise money for legal fees resulted in him netting just $1 million from 13 donors. On Friday, a federal jury saddled Trump with $83.3 million in damages in the E. Jean Carroll's defamation trial against him.

Persons: —, Donald Trump's, Rudy Giuliani, Donald J, Trump, Giuliani, Jean Carroll's Organizations: Service, Business, Court, Southern, of, New York Times, Trump, Voting Systems Locations: Georgia, York

☆ Video appears to show Ukraine's new 'Ironclad' drone vehicle machine-gunning a Russian outpost
▼ + stars: | 2024-01-27 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Video footage appears to show Ukraine's new "Ironclad" combat drone in action. The video, which was shared by the Ukrainian Ministry of Defense. AdvertisementVideo footage released by the Ukrainian Ministry of Defense earlier this month appears to show Ukraine's new "Ironclad" combat drone vehicle in action against Russian forces. Ukrainian Ministry of DefenseThe Shablya system is a remotely operated "combat platform" designed to be attached to certain vehicles or objects, the manufacturer Roboneers says on its website. Everything gets smashed up by drones and artillery," Gleb Molchanov, a Ukrainian drone operator, told The Guardian.

Persons: —, Mykhailo Fedorov, Fedorov, Roboneers, Gleb Molchanov Organizations: Ukrainian Ministry of Defense, Service, Russian, Assault Brigade, Facebook, CNN, Guardian Locations: Russian, Russia, Ukraine, Iranian, Dnipro, Ukrainian

☆ What we know about Alabama execution of Kenneth Smith by nitrogen gas
▼ + stars: | 2024-01-26 | by ( Elizabeth Wolfe | Dakin Andone | ) edition.cnn.com time to read: +7 min

CNN —Alabama inmate Kenneth Smith was put to death Thursday night by nitrogen hypoxia, marking the nation’s first known execution to be carried out using that method. The execution process began at 7:53 p.m. CT Thursday, and Smith was pronounced dead at 8:25 p.m., according to Alabama Department of Corrections officials. Smith made a lengthy statement in front of the witnesses before the execution started, according to the pool reporters. A new method of capital punishmentAhead of Smith’s execution, a tense debate unfolded about whether America’s wholly new execution method is humane and whether the procedure would cause undue pain. The family has forgiven everyone involved in the killing, including Smith, Michael Sennett said at a news conference Thursday night.

Persons: Kenneth Smith, Smith, United Nations –, William C, John Hamm, gurney, “, writhed, Hamm, ” Hamm, Jeff Hood, who’d, ” Smith, gurney ”, Hood, ”, ’, Elizabeth Sennett's, Elizabeth Sennett, Sennett, Charles Sennett, Michael, ” Elizabeth Sennett’s, What’s, ” Chuck Sennett, “ He’s, Michael Sennett, CNN’s Devan Cole, Christina Maxouris, Isabel Rosales, Lauren Mascarenhas, Jamiel Lynch Organizations: CNN, United Nations, Holman Correctional, Alabama Department of Corrections, “ Locations: Alabama, Oklahoma, Mississippi, Atmore, Alta

☆ Commodity markets are in a 'super squeeze' — and higher prices could be here to stay
▼ + stars: | 2024-01-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

A commodity "super squeeze" is denoted by higher prices driven by supply constraints more than a robust growth in demand, he explained. "If it's a supply constraint that's driving high commodity prices, it's a very different story for global growth," he told CNBC via Zoom. Higher prices as a result of a super squeeze are "not as positive." The super squeeze could be deeper, or more prolonged if geopolitical, climate change or energy transition related supply disruptions are larger than expected. He highlighted that extreme weather events and geopolitics have also impacted the agricultural and energy commodity baskets.

Persons: Li Xin, Paul Bloxham, Bloxham, Brian Luke S, Dow, HSBC's Bloxham, Ian Waldie, Brian Luke, Matty Zhao Organizations: Technology, Getty, Visual China, HSBC, CNBC, Paul Bloxham HSBC, Energy, Commission, Commodities, Bloomberg, Dow Jones, of America Securities Locations: SUIXI, CHINA, Anhui, Suixi County, Huaibei City, Anhui Province, China, Israel, Gaza, Ukraine, Red, Australia, Asia, Pacific

ARLINGTON, Texas (AP) — Police in Texas said three people were killed in a shooting Thursday night at an apartment complex, a news report said. Authorities in Arlington said a shooting was reported around 8:30 p.m., KTVT-TV reported. Officers who responded to a home on Chatham Green Lane found three victims who had died of gunshot wounds, KTVT reported. Arlington is located abot 15 miles (24 kilometers) east of Forth Worth and about 20 miles (32 kilometers) west of Dallas. Political Cartoons View All 253 Images

Persons: Chatham Green Lane, KTVT Organizations: — Police, Authorities, Chatham, Police Locations: ARLINGTON , Texas, Texas, Arlington, Chatham Green, Forth Worth, Dallas

Its 18-month investigation found that Petr “Gara” Garabik had engaged in repeated sexual harassment and unwanted sexual contact with Reid. “New women on the team were warned about him,” Reid told the AP. Garabik told the AP in an email that the case against him was "complete nonsense from the start." By that I mean other team members.”Last May, six months after SafeSport concluded its investigation, U.S. Biathlon retroactively changed the criteria for being pre-qualified for the World Cup team — and Reid was bumped off. During the SafeSport investigation Reid underwent hours of questioning, a process that retraumatized her, she said.

Persons: Joanne Reid, Deedra Irwin, Reid, ” Irwin, Petr “ Gara ” Garabik, Wax, ”, Larry Nassar, Garabik “, “, Beth, Heiden, Eric Heiden, ” Reid, Garabik, SafeSport, —, Jack Gierhart, ” Gierhart, “ We’re, pats, Bernd Eisenbichler, Irwin, Lowell Bailey, Bailey, ’, Ju’Riese Colón, there's Organizations: Biathlon, Army National Guard, U.S . Center, SafeSport, The Associated Press, U.S, AP, World, U.S . Locations: Czech, U.S, Slovenia, ’ ”, Garabik, Austria

LOUISVILLE, Ky. (AP) — A 21-year-old Black man has filed a lawsuit accusing officers in the embattled police department of Kentucky's largest city of wrongful arrest and excessive force. The suit asserts that officers had “no reasonable suspicion or probable cause” to make the arrest in connection with the stolen vehicle and a stolen gun found nearby. “LMPD is committed to providing fair, equitable, and constitutional police services to the people of Louisville,” the statement said. The Justice Department report said the Louisville police department “discriminates against Black people in its enforcement activities,” uses excessive force and conducts searches based on invalid warrants. A consent decree between the Justice Department and Louisville Police, which would allow a federal judge to oversee policing reforms, has not been finalized.

Persons: Jahmael Benedict, “ LMPD, Benedict, Breonna Taylor, “ Organizations: Louisville Metro Police Department, Jefferson Circuit, Louisville Metro Police, U.S . Justice Department, The, Justice Department, Louisville Police Locations: LOUISVILLE, Ky, Kentucky's, Kentucky, Louisville

☆ UN Urges Measures to Stop Arms Trafficking Fueling Haiti's Gang Wars
▼ + stars: | 2024-01-25 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

By Sarah Morland(Reuters) - The head of the United Nation's drugs and crime office on Thursday warned of a "vicious cycle" of arms trafficking to increasingly powerful Haitian gangs, fueling an internal conflict and worsening violence across the Caribbean. "It's more important than ever to take every measure possible to prevent illicit flows," the UNODC's executive director, Ghada Waly, told a U.N. Security Council meeting, saying arms trafficking and gang activity were feeding off each other. A recent UNODC report found that most illegal firearms seized in Haiti came from the United States, notably Florida, Arizona, Georgia, Texas and California. After the Dominican Republic shut its border with Haiti, smugglers were turning to more remote routes including clandestine airstrips, the report said. No date has been set for deployment, which Haiti requested in October 2022.

Persons: Sarah Morland, Ghada Waly, U.N, Robert Wood, Kenya's, Tirana Hassan, Hassan, Jose de la, Michelle Nichols, Leslie Adler Organizations: Reuters, Security, Taurus, Glock, Beretta, Smith, Wesson, Kenyan, Rights Watch, Tirana Locations: Haiti, United States, Florida , Arizona, Georgia, Texas, California, Caribbean, U.S, Dominican Republic, Ecuador

☆ Meet the 'nones': More Americans are religiously unaffiliated. Who are they?
▼ + stars: | 2024-01-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

In 2023, Pew found 28% of Americans fell into the nones category, which includes people who, when asked about their religion, say they are atheists, agnostics, or "nothing in particular." Nones tend to be younger than the religiously affiliated, and they are more likely to identify as liberal. "Some 'nones' have a very negative view of religion, but 'nones' on the whole express mixed views rather than outright hostility," the report said. Pew researchers noted that the number of nones fell 3 percentage points last year from 31% in 2022. Pew conducted interviews with 3,317 respondents who were classified as religious nones.

Persons: —, Pew, nones, It's Organizations: Service, Business, Pew Research Center, Pew Locations: nones

☆ AI deepfakes threaten to wreak havoc with the world's year of elections
▼ + stars: | 2024-01-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementRecent advances in generative AI, spurred by OpenAI's ChatGPT , mean the technology is now a much bigger problem. In the UK, research by Fenimore Harper Communications found more than 100 deepfake video ads impersonating Prime Minister Rishi Sunak on Facebook. Though it's not clear exactly who is behind the deepfakes in the US and UK, the recent proliferation of AI means almost anyone with internet access and an AI tool can cause some havoc. Earlier this month, OpenAI unveiled its plans to prevent the misuse of AI ahead of this year's elections.

Persons: —, Ethan Mollick, OpenAI's ChatGPT, Joe Biden, Deepfake robocalls, Joe Biden's, Drew Angerer, Biden, Rishi Sunak, Leon Neal, Fenimore Harper's, Meta, it's, Mollick, OpenAI, Lisa Quest, Oliver Wyman, Spriha Srivastava Organizations: Service, Business, Voters, Wharton, NBC News, PLOS, Fenimore Harper Communications, Facebook, UK, Ireland Locations: Britain, India, Mexico, New Hampshire, Turkey, Malaysia, Philippines, United States, Davos

☆ China is ramping up stimulus to boost market confidence — but is it enough?
▼ + stars: | 2024-01-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Starting Feb. 5, the People's Bank of China will allow banks to hold smaller cash reserves, central bank governor Pan Gongsheng said at a press conference, his first in the role. Cutting the reserve requirement ratio (RRR) by 50 basis points is set to release 1 trillion yuan ($139.8 billion) in long-term capital, the central bank said. A 2 trillion yuan boost? Chinese Premier Li Qiang on Monday called for much stronger measures to boost market stability and confidence, according to an official readout. Chinese authorities in October already announced the issuance of 1 trillion yuan in government bonds, alongside a rare increase in the deficit.

Persons: Gongsheng, Pan Gongsheng, Tao Wang, Ting Lu, a, Lu, Wang, Stocks, Winnie Wu, That's, Li Qiang, Pan, Philip Yin, David Chao, Pan's Organizations: People's Bank of China, State Administration of Foreign Exchange, Financial, Getty, Visual China, People's Bank of, UBS Investment Bank, Wednesday, National Financial Regulatory Administration, UBS, Bank of America's, Bloomberg, PBOC, Citi, U.S, Asia Pacific, CNBC Locations: BEIJING, CHINA, Beijing, China, People's Bank of China, Asia, Hong Kong, capitulating, Japan, Invesco

☆ Saudi Arabia, a country where you can be publicly whipped for drinking alcohol, is opening its first liquor store: report
▼ + stars: | 2024-01-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Read previewSaudi Arabia is to open its first store serving alcohol, Reuters reported, catering exclusively to non-Muslim diplomats. The store will open in Riyadh, the Saudi capital, the report said. AdvertisementThe move comes as Saudi Arabia's ruler, Crown Prince Mohammed bin Salman, is seeking to liberalize the image of Saudi Arabia, whose laws derive from an ultra-conservative interpretation of Islam. Under Saudi law, alcohol is banned, and judges can hand out severe punishments including public flogging for those who violate them. Crown Prince Mohammed is trying to attract foreign tourism and billions in investment as he pivots the kingdom away from its reliance on fossil fuels as part of its Vision 2030 plan.

Persons: —, it'll, Prince Mohammed bin Salman, Prince Mohammed Organizations: Service, Reuters, Business, Saudi, Wall Street Locations: Saudi Arabia, Riyadh, Saudi

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