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☆ From expanding screens to see-through displays: How tech giants are trying to jazz up their gadgets
▼ + stars: | 2024-02-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Motorola's "adaptive display concept" was on display at Mobile World Congress in Barcelona. See-through screens, phones that wrap around your wrist and expandable displays — these are all concept tech that gadget makers showed off this week, in a bid to stand out from competitors in a cut-throat hardware market. At the world's largest mobile trade show, the Mobile World Congress in Barcelona, some of the biggest companies in the world showed off some unusual screen technology. "As a result we are seeing a proliferation of weird and wonderful new designs such as wrist worn phones, rollable screens, virtual 3D displays and more." Here's some of the screen tech on display at MWC:

Persons: Ben Wood Organizations: Mobile, MWC, Apple, Samsung, CCS Insight, CNBC Locations: Barcelona

☆ Cramer gives the portfolio's core holdings a makeover — 4 are booted, 6 are added including a trio of tech giants
▼ + stars: | 2024-02-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +12 min

COST 5Y mountain Costco's stock performance over the past five years. DHR 5Y mountain Danaher's stock performance over the past five years. ETN 5Y mountain Eaton Corp.'s stock performance over the past five years. "The megatrends are real serious, and [Eaton] is a real serious company," Jim said. TJX 5Y mountain TJX Companies' stock performance over the past five years.

Persons: Jim Cramer, Jeff Marks, Morgan Stanley, Wall, Beijing's, Jim, Eaton, Linde, Lilly's, Eli Lilly, We've, Zepbound, Mark Zuckerberg's, Mark Zuckerberg, OpenAI, Copilot, management's, Nvidia, TJ Maxx, TikTok, Gen Zers, TJX, Jim Cramer's, Satya Narayana Nadella, Lucas Jackson Organizations: GE Healthcare, Meta, Microsoft, Johnson, Natural Resources, Starbucks, Apple, Apple Music, Services, Amazon, Amazon Web Services, Prime, Costco, Danaher, Eaton Corp, Investors, GE, LIN, Novo Nordisk's Wegovy, Novo Nordisk, Management, Nvidia, TJX Companies, Marshalls, CNBC Locations: Eaton, China, Manhattan, New York City

☆ This Big Tech stock has an 'absolutely compelling' valuation, top fund manager says
▼ + stars: | 2024-02-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, the company's revenues and profits have surged since then, and one outperforming fund manager sees the current valuation as a buying opportunity. Alibaba shares are traded in the U.S., Hong Kong and Germany. BABA 1Y line The slump in the company's share price came amid concerns of an economic slowdown in China and increased regulation of the internet sector by authorities in Beijing. Alibaba's cheap share buyback Lapping also pointed to the impact of Alibaba's share buyback program as distinct compared to many richly valued U.S. tech darlings. However, with its share price now 65% off its peak, Alibaba's compensation costs have dwindled dramatically.

Persons: Sean Peche, BABA, It's, Andrew Organizations: Ranmore Fund Management, Wall Street, Tech, Ranmore Global Equity Fund Locations: China, U.S, Hong Kong, Germany, Beijing

☆ Viking Therapeutics' weight loss drug showed faster results in clinical trials than Ozempic or Wegovy. Here's how it works.
▼ + stars: | 2024-02-28 | by ( ) www.businessinsider.com time to read: +3 min

Biotech company Viking Therapeutics saw stock prices double after a report on weight loss drug VK2735. The new drug could lead to even more weight loss at a faster pace than Ozempic or Mounjaro. Viking Therapeutics, a small California-based biotech company, shared the topline results from a mid-stage trial of its drug VK2735 on February 27. AdvertisementHowever, the early results of clinical trials suggest it could be on par to offer even more weight loss in less time than its competitors. How Viking Therapeutics' weight-loss drug worksVK2735 mimics two hormones that affect weight control.

Persons: —, Eli Lilly, GIP, VK2735 Organizations: Biotech, Viking Therapeutics, Service, Novo Nordisk, Washington Post, Therapeutics, Viking Locations: California

☆ Here’s why a SCOTUS ruling on social media rules matters to so many people
▼ + stars: | 2024-02-27 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

It’s obvious enough that the legislation would affect those social media giants, who are challenging the laws’ constitutionality through industry trade associations. But in scrutinizing the laws’ scope and First Amendment impacts, justices from both sides of the ideological spectrum worried Monday that the legislation’s effects could spill far beyond major social media platforms. “We’re talking about the classic social media platforms, but it looks to me like it could cover Uber. Social media applications are seen on an iPhone in this photo illustration taken on 10 November, 2023 in Warsaw, Poland. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) Andrew Caballero-Reynolds/AFP/Getty ImagesThat law permits social media users to try to sue platforms for violations.

Persons: CNN — Uber, —, Henry Whitaker, “, ”, Amy Coney Barrett, Sonia Sotomayor, Whitaker, Jaap Arriens, ” Whitaker, Sotomayor, Ketanji Brown Jackson, “ I’m, ” Jackson, Uber, Aaron Nielson, Barrett, ” Sotomayor, ” Nielson, ” Chris Marchese, ANDREW CABALLERO, REYNOLDS, Andrew Caballero, Reynolds, Neilson, ” Barrett, you’ve, Elena Kagan, you’re, Kagan Organizations: CNN, Facebook, YouTube, Web, LinkedIn, NetChoice Litigation, AFP, Getty, Texans, PayPal Locations: Texas, Florida, Warsaw, Poland, ” Texas, ”, Washington , DC, AFP, El Paso

☆ Premarket stocks: This rally is nearly unprecedented. Can it last?
▼ + stars: | 2024-02-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Just last week the S&P 500 hit a new all-time high and notched its best showing in a year. But this nearly unprecedented surge in the markets is sparking some concern over what’s driving the rally and whether it can continue. The S&P 500 and Dow last week each reached record levels after blockbuster earnings from the chipmaker set off a broad market rally. The S&P 500 is up more than 6% for the year, but when you equally weigh all of the stocks in the index, it’s up just 2.5%. Last year, the S&P 500 rose by 24.2%, but the equally-weighted index was up by just 11.6%.

Persons: Sam Stovall, Tesla, Jamie Dimon, ” Dimon, CNBC’s Leslie Picker, That’s, ”, What’s, Warren Buffett, Berkshire Hathaway, Eva Rothenberg, Buffett, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla Organizations: CNN Business, Bell, New York CNN —, Nvidia, Dow, Nasdaq, Health, Tech, Deutsche Bank, Microsoft, Apple, Amazon, Google, JPMorgan, Federal Reserve, Traders, PCE, Berkshire, CNBC Locations: New York, Berkshire, Omaha , Nebraska, Omaha, United States

☆ These stocks were analysts' top picks for 2024. How they are doing nearly 3 months in
▼ + stars: | 2024-02-27 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Now, we're tracking how well the analysts' picks have performed just three months into the new year. About 93% of analysts surveyed by LSEG hold a buy rating on Nvidia and have an average price target of $832.52. Warner Bros. Shares of Warner Bros. are down nearly 25% in the new year, and have lost about 45% over the past 12 months. Further, Warner Bros. did not give free cash flow guidance for 2024.

Persons: drugmaker Viatris, David Einhorn, Einhorn, Max Organizations: Dow Jones Industrial, CNBC, Nvidia, drugmaker, Pfizer, Warner Bros, APA Corp, Halliburton, Caesars Entertainment Locations: LSEG

☆ Blocking Kroger’s mega-merger with Albertsons won’t save your local grocery store
▼ + stars: | 2024-02-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

High grocery prices helped scuttle the dealInflation at the grocery store loomed over the proposed merger. Over the past four years, grocery prices have risen significantly,” the FTC said in its lawsuit. Kroger had committed to invest $500 million in lower prices and $1.3 billion to improve Albertsons’ stores if the merger cleared. Yet consolidation in the grocery sector is growing, and small grocery stores are struggling. Traditional grocery stores have also lost ground to Walmart, Costco, dollar stores and online retailers during that span.

Persons: it’s, Kroger, Ash, “, ” Greg Ferrara, Joe Biden, Lina Khan, Khan, Marc Perrone, ” Sen, Elizabeth Warren, ” Joe Feldman Organizations: New, New York CNN, Kroger, Albertsons ’, Albertsons, Walmart, FTC, Bureau of Labor Statistics, Albertsons Cos, Safeway, Bloomberg, Getty, Agriculture Department, Costco, Independent, National Grocers Association, Meta, Microsoft, Unions, Democrats, Food, Commercial Workers ’, ”, Top Democratic, Twitter, Aldi, Activision, Telsey Advisory Locations: New York, Scottsdale , Arizona

☆ Angry farmers once forced India’s hardline leader into a rare retreat. As the election looms, they’re back
▼ + stars: | 2024-02-27 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

Modi promised “a fresh start,” agreeing to meet the farmers’ demands and work with them to move forward. Police fire teargas to disperse farmers marching towards New Delhi during a protest at the Haryana-Punjab state border on February 21, 2024. It was a massive victory for the farmers, who pushed the Indian leader into a rare and uncharacteristic climbdown. The abject poverty and debt faced by many of India’s farmers has forced some to take extreme measures. “About 86% of Indian farmers are dependent on the markets.

Persons: Narendra Modi, Modi, “, ”, Narinder Nanu, Devinder Sharma, Gurpreet, Prakash Singh, Arjun Munda, Sharma, ” Sharma, ’ Modi, Arati Jerath, Jerath, ” X Organizations: CNN, Police, Getty, Bharatiya Janata Party, BJP, Rapid Action Force, Bloomberg, Agriculture, India Brand Equity Foundation, country’s Department of Commerce, Farmers, “ Farmers, Roads Locations: New Delhi, Punjab, Haryana, AFP, Uttar Pradesh, China, India, Brazil, BJP, Pakistan, Bangladesh, Afghanistan, Shambhu, Patiala district

☆ The two-letter word helping this lender buck the delinquency storm
▼ + stars: | 2024-02-27 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But that’s not an accident,” Max Levchin, Affirm’s CEO and a co-founder of PayPal, told CNN in a recent interview. Levchin credits a willingness to say a two-letter word, one that’s not exactly associated with the surging BNPL industry, N-O. It’s that we are honest when we tell them, ‘Hey, we don’t think you should borrow right now.’”Affirm started saying “no” more often in the spring of 2022. That’s when Levchin started observing signs of “financial stress” as inflation surged and gas prices approached record highs. “Say you’re asking to borrow to buy an $800 TV and we really don’t think it’s healthy for you, financially…We can say, ‘That’s too much now.

Persons: “ We’re, that’s, ” Max Levchin, Levchin, “ It’s, ’ ”, ”, “, Max Levchin, Gross, we’ll, ” Levchin, it’s, BNPL, There’s Organizations: New, New York CNN, PayPal, CNN, New York Fed, Target, Walmart, Royal, American Airlines, NY Fed, Federal Reserve, Biden, Trump Locations: New York, Helsinki, Finland, Royal Caribbean, Covid

☆ An Emboldened F.T.C. Bolsters Biden’s Efforts to Address Inflation
▼ + stars: | 2024-02-27 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

The Federal Trade Commission filed a lawsuit on Monday, joined by several state attorneys general, to challenge a merger between the supermarket giants Kroger and Albertsons. The agency’s rationale in many ways echoed Mr. Biden’s renewed attempts to blame corporate greed for rising prices and shrinking portions in grocery aisles. Because grocery prices have risen significantly in recent years, they added, “the stakes for Americans are exceptionally high.”That is true for consumers, and it is true for the president. More Americans disapprove of his handling of the economy than approve of it. Consumer confidence, while improved in recent months, remains relatively weak for an economy with low unemployment and solid growth like the one Mr. Biden is presiding over.

Persons: Biden’s, Biden Organizations: White, Federal Trade Commission, Kroger, Albertsons

☆ The 11 GRANOLAS stocks power Europe to record highs, drawing Magnificent Seven comparisons
▼ + stars: | 2024-02-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 19, 2024. Staff | ReutersOver the last 12 months, just 11 stocks made up half of the gains that powered the pan-European Stoxx 600 stock index to a record-high close on Friday. "From a Global point of view, the GRANOLAS have even outperformed the so-called Magnificent 7 over the past two years. Their (out)performance is even more impressive on a risk-adjusted basis: with a volatility 2x lower than for the Magnificent 7, the GRANOLAS help to boost the Sharpe ratio." "This suggests that, in Europe, nearly all revenue growth of the STOXX 600 will come from the GRANOLAS.

Persons: Goldman Sachs, Sanofi —, Goldman, Tim Hayes, Ned Davis, Hayes Organizations: Staff, Reuters, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Street, Ned, Ned Davis Research, CNBC Locations: Frankfurt, Germany, Europe

☆ Inside the rocky marriage of hedge funds and top AI talent
▼ + stars: | 2024-02-27 | by ( Bianca Chan | ) www.businessinsider.com time to read: +11 min

AI researchers have struggled with hedge funds' culture around proprietary secrets, which goes against the open-source philosophy foundational to AI and academia. Some recruiters, including Michael Stover, are seeing double- and triple-digit growth in AI hiring among hedge funds and prop-trading firms. For heads of AI, he said, hedge funds are dishing out a minimum of $1.5 million in total comp. But perhaps the top reason hedge funds are interested in the technology is that AI capabilities are bait in the war for investing talent. It's one of the few large US hedge funds without an executive or centralized team dedicated to AI or machine learning.

Persons: Ken Griffin's Citadel, Li Deng, Deng, Ken, Ken Griffin, Michael Stover, Stover, ExodusPoint, Balyasny, Agni Ghosh, Stott, isn't, Sumeet Chabria, Conor Twomey, Tim Mace, Mace, May's Ghosh, it's, They're, Peter Finter, Finter, That's, Ghosh, you've Organizations: Microsoft, Business, Citadel, Milken Institute, Reuters, Millennium Management, Bloomberg, Balyasny Asset Management, Man, Bank of America, Wall, Wall Street, Tech, Google Locations: Chicago, Seattle, Beverly Hills , California, London, San Francisco, Silicon Valley, Wall

☆ How America’s once great department stores became a dying breed
▼ + stars: | 2024-02-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

But department stores, focused on America’s middle class, are fading. The victims of shifting consumer tastes were not the department stores that anchored the local mall, it was the small, locally owned stores along downtown shopping districts that were closing their doors. And possibly even more than the big box competitors, department stores have suffered from consumers shifting to buying items online rather than in person. The steady closing of the department stores that once served as “anchors” of malls across suburban America has been another nail in the coffin of many malls, hurting the department stores that remained in hollowed-out malls with a fraction of their earlier traffic. Saunders said one of the primary problem for Macy’s is that its holding company, formerly known as Federated Department Stores, spent much of its resources on buying other department store brands, such May’s Department Stores, and Filene’s, rather than investing in the stores its held.

Persons: New York CNN —, Neil Sauders, ”, JC Penney, It’s, “, Neil Saunders, Shannon Stapleton, Saunders, ” Saunders, Al Bello, Sunny Zheng, Macy’s, Tony Spring, Taylor, Brian Snyder, Eddie Lambert, Michael Brown, Kearney, ” Brown, Mike Segar, Richard W, Sears, Alvah Roebuck, Sears Roebuck, Bettmann, PhotoQuest, Jack Manning, Frank Scherschel, Owen, Lucille Jagusch, Arlene Hardt, Martin Luther King Jr, Michael Ochs, Ron Frehm, Ralf, Finn Hestoft, Mark Peterson, Seth Meyers, Hugh Jackman, NBCUniversal, Kaylin Wilson, Jim Cole, Rene Johnston, Maria Alejandra Cardona, Scott Olson, Cesar Villasenor, Mel Melcon, Sarah Blesener, Paul Hennessy, Patti Naleck, Naleck, Stacey Wescott, Brown Organizations: New, New York CNN, American, Walmart, Company, Department, Sears, Target, GlobalData, JCPenney, Research, RadioShack, Reuters Sears, Federated Department Stores, May’s, Reuters, Chicago History, Sears Roebuck, Roebuck, Hulton, AP, AP Soldiers, Michael Ochs Archives, Getty, Bettmann, Kmart, Bloomberg, Toronto Star, Reuters Residents, Los Angeles Times, New York Times, Chicago Tribune, Tribune, Service Locations: New York, GlobalData, America, Nanuet , New York, North Redwood , Minnesota, Chicago, El Paso , Texas, Jackson , Mississippi, Tucson , Arizona, Caracas, Venezuela, Niles , Illinois, Morton Grove , Illinois, Baltimore, White Plains , New York, Woodfield , Illinois, Hicksville , New York, Nashua , New Hampshire, Mentor , Ohio, Mississauga , Ontario, Hialeah , Florida, Janesville , Wisconsin, Santa Monica , California, Rockaway , New Jersey, Leesburg , Florida, Schaumburg , Illinois

☆ Sony to lay off 900 at PlayStation as tough times for the games industry persist
▼ + stars: | 2024-02-27 | by ( Michael Nam | ) edition.cnn.com time to read: +2 min

New York CNN —Electronics giant Sony announced on Tuesday that it will be cutting 900 jobs, or 8%, in PlayStation’s global workforce. The layoffs will impact all regions for Sony Interactive Entertainment, according to the PlayStation press release, with its in-house London studio, responsible for the competitive singing video game “Singstar,” closing entirely. “These are incredibly talented people who have been part of our success, and we are very grateful for their contributions,” wrote Jim Ryan, president and CEO of Sony Interactive Entertainment. Ryan had already announced in September plans to retire in March as Sony Group Corporation president. Specifically, the video game industry has been seeing jobs hemorrhage from 2023 into this year as well, with Epic Games cutting 830 jobs last September and Tencent’s Riot Games laying off 11% of its workforce in January.

Persons: ”, Jim Ryan, Naomi Matsuouka, Ryan, Hiroki Totoki Organizations: New, New York CNN — Electronics, Sony, Sony Interactive Entertainment, PlayStation, London, Bloomberg, Sony Group Corporation, Epic Games, Riot Games, SONY Locations: New York

☆ Is it too late to buy Nvidia shares? Here's what Wall Street says
▼ + stars: | 2024-02-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The bank increased its price target for Nvidia to $820 from $575 in a Feb. 22 note. TD Cowen said in a Feb. 21 note that the company is likely to maintain strong data center growth in the coming years. It raised its price target for Nvidia from $800 to $925. Luria only has a neutral rating for Nvidia, giving it a $410 price target — implying a 47% downside. Bottomline: According to FactSet, analysts covering Nvidia gave it a 93% buy rating, with an average price target of $850.97, implying upside of 8.4%.

Persons: Jeff Pu, CNBC's, TD Cowen, BofA, Gil Luria, D.A, Davidson, Luria, — CNBC's Michael Bloom Organizations: Nvidia, Citi, Haitong, Apple, NVIDIA, Microsoft, Google, AMD, Intel Locations: BofA

☆ US government sues to block largest supermarket merger in history
▼ + stars: | 2024-02-26 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN —The Federal Trade Commission on Monday sued to block the $25 billion deal between Kroger and Albertsons, alleging the largest supermarket merger in US history would lead to higher prices for consumers. The merger, announced in 2022, sought to combine the fifth and tenth largest retailers in the country. “This supermarket mega merger comes as American consumers have seen the cost of groceries rise steadily over the past few years. With the FTC’s blessing, Haggen, a small supermarket chain in the Northwest with just 18 locations, bought 146 of the former Albertsons and Safeway stores. She criticized the FTC’s handling of Albertsons’ deal with Safeway, pointing to it as a prime example of the limitations of divestitures.

Persons: Harris Teeter, Fred Meyer, Kroger, Rodney McMullen, Henry Liu, Piggly, Khan, Lina Khan, Haggen, ” Khan, “ Organizations: New, New York CNN, Federal Trade Commission, Kroger, Albertsons, Safeway, Vons, Bureau of Labor Statistics, FTC, Walmart, Amazon, Costco, Competition, S Wholesale Grocers, Democrats, Republicans, Capitol Locations: New York, United States, Aldi, FTC’s, Northwest

☆ China’s Oppo unveils prototype augmented reality glasses with voice assistant as AI hype hits gadgets
▼ + stars: | 2024-02-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Since they are AR glasses, users can see digital content imposed over the real-world view they see in front of them. Oppo, a Chinese firm and one of the world's biggest smartphone makers, announced the Oppo Air Glass 3 at the Mobile World Congress in Barcelona. BARCELONA – Oppo on Monday unveiled a prototype set of augmented reality (AR) glasses with a voice assistant, underscoring how electronics giants are trying to infuse artificial intelligence across their products to stand out. The Air Glass 3 needs to be tethered to an Oppo smartphone. Oppo said that its latest AR glasses are equipped with a voice assistant which is powered by the Chinese tech giant's own large language model (LLM) called AndesGPT.

Persons: Oppo, Alibaba — Organizations: Mobile, BARCELONA, Oppo, Baidu, Tech, Apple, IDC Locations: Barcelona, China

☆ White dwarf star has metal scar after gobbling planetary fragment
▼ + stars: | 2024-02-26 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —Astronomers have spotted an unusual sign that a dead star feasted on a fragment of a planet orbiting it: a metal scar on the star’s surface. The observation revealed a metallic feature on the star’s surface that the researchers determined was related to a change detected in the star’s magnetic field. The strength of the metal detection also synced with changes observed in the star’s magnetic field, which led the team to determine that the metal scar was located on one of the star’s magnetic poles. The star’s magnetic field pulled the metals toward the star, which led to the presence of the scar, the finding has suggested. But WD 0816-310 presents an entirely different scenario orchestrated by the star’s magnetic field.

Persons: ”, Dr, Stefano Bagnulo, Jay Farihi, John Landstreet, Landstreet Organizations: CNN —, Southern, Planetarium, University College London, Western University, NASA Locations: Chile, Armagh, Northern Ireland, Swiss, Canada

☆ Big Tech’s Latest Power Grab: the Constitution - The New York Times
▼ + stars: | 2024-02-26 | by ( Tim Wu | ) www.nytimes.com time to read: +2 min

And some percentage — the numbers are unclear — are taken down for violating the content rules set by the platforms. Texas a few years back wrote its own law to govern big tech companies, barring them from discriminating on the basis of viewpoint when they take posts off their social media platforms. I can’t say I like the law Texas passed — but that isn’t the point, for the cure is worse than the disease. If the justices strike down the Texas law, they would be jeopardizing our ability to control our own future using democratic means. It is important to understand what the tech companies are asking for.

Organizations: Facebook, Google, Twitter Locations: Texas, Paxton

☆ Xiaomi bets big on its new electric vehicle — targets 20 million premium users
▼ + stars: | 2024-02-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. Xiaomi revealed its SU7 electric car in China in late December but has yet to announce a specific price. Building on its tech capabilities as a telecommunications and smartphone company, Huawei has swiftly become a player in China's electric car market. Apple has yet to formally enter the electric car market despite reports it has been working on one. But the system is due for rollout in the coming months to appliances and the forthcoming car, Lu said.

Persons: Xiaomi, Evelyn Cheng, it's, Weibing Lu, Lu, That's, Lu Xiaomi Organizations: CNBC, Mobile, Apple, Samsung, Porsche –, Huawei, Baic Group, Xiaomi Locations: Evelyn Cheng BEIJING, China, Barcelona, Beijing, Xiaomi, Canalys

☆ Warren Buffett: Berkshire’s boom days may be over as his company approaches $1 trillion in value
▼ + stars: | 2024-02-26 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Berkshire Hathaway neared a $1 trillion market valuation Monday after a record-breaking year, but CEO Warren Buffett warned in his annual letter to investors that more skyrocketing performances are likely a thing of the past. Berkshire Hathaway (BRK.B) saw its shares jump nearly 2%, to $429, on Monday morning after closing with a market cap of $905 billion on Friday. Only a handful of companies worldwide has ever reached the $1 trillion milestone, among them tech giants Amazon, Apple and Microsoft. Berkshire has about $167.6 billion in cash and equivalents, breaking last quarter’s record-high $157.2 billion. For the year, operating earnings rose to $37.3 billion, after setting a record of $30.8 billion in 2022.

Persons: Berkshire Hathaway, Warren Buffett, ”, Buffett, “ Organizations: New, New York CNN, Berkshire, Apple, Microsoft, Mitsubishi, Mitsui, Sumitomo Locations: New York, Omaha , Nebraska, Berkshire, Omaha, United States, ”

Here are the key takeaways from the courtroom:How far does the First Amendment reach when it comes to social media? Online platforms engage in censorship when they silence certain users’ speech, the states argued to the court. In fact, the tech industry argued, government requirements that social media not moderate content would violate the platforms’ own First Amendment freedoms from government meddling. Section 230 features prominently in argumentsOne question kept coming up during the arguments, just as it has in lower courts: What these state laws could mean for Americans’ overall ability to sue social media companies over content moderation. The state laws explicitly allow users to sue tech platforms for alleged censorship.

Persons: Donald Trump, Samuel Alito, Biden, ” Alito, Brett Kavanaugh, ’, ” Kavanaugh, Elena Kagan, Elon Musk, ” Kagan, –, – that’s, Kagan, Uber, you’re, Amy Coney Barrett, ” Organizations: CNN, Meta, ”, X, Elon, YouTube, Communications Locations: Texas, Florida

☆ This biotech startup wants to prevent unhappiness. Here's the pitch deck Matter Bioscience used to raise $26 million.
▼ + stars: | 2024-02-26 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Read previewAxel Bouchon cofounded Matter Neuroscience in 2019 after leading the venture arms of pharma giants Moderna and Bayer. AdvertisementMatter has emerged from stealth with $26 million from ARCH Venture Partners, Polaris Partners, Exor Ventures, and Collaborative Fund, Business Insider has learned exclusively. That $26 million includes an initial seed round led by Polaris Partners and a Series A round led by ARCH Venture Partners. The startup views itself now as a consumer biotech startup, Bouchon said. Here's the 17-slide pitch deck Matter used to raise $26 million.

Persons: —, Axel Bouchon, Bouchon Organizations: Service, pharma, Moderna, Bayer, Business, Venture Partners, Polaris Partners, Exor Ventures, Fund, Brain Imaging, Icahn School of Medicine Locations: Maastricht, Netherlands, Mount Sinai, Seoul, South Korea

☆ ‘Fourteen Days’ is a ‘collaborative novel’ from 36 literary giants. But who wrote what?
▼ + stars: | 2024-02-26 | by ( Zara Khan | ) edition.cnn.com time to read: +8 min

From left: the authors Diana Gabaldon, R. L. Stine, Celeste Ng, John Grisham and Margaret Atwood, all of whom contributed to "Fourteen Days." Though some readers will draw connections between the latter work and “Fourteen Days,” Preston notes there are many differences. Perhaps most notably, “Fourteen Days” follows those left behind amid a pandemic — people without “the financial wherewithal to escape,” he told CNN. In "Fourteen Days," residents of New York apartment building begin gathering on the rooftop during Covid-19 lockdowns. Read: “The Interestings” (2014)The tenth novel from author Meg Wolitzer — who also contributed to “Fourteen Days” — follows a group of close-knit friends that meet at an arts summer camp in the 1970s from adolescence through to middle age.

Persons: —, Margaret Atwood, ’, John Grisham, Celeste Ng, Diana Gabaldon, Stine, Atwood, Douglas Preston, Yessie, Preston, Emma Donoghue, “, ”, ” Giovanni Boccaccio’s, ” Preston, Donoghue, Tess Gerritsen, Gerritsen, Harper Collins, Ah Poh, ” Donoghue, Pier Pasolini, Steven Soderbergh’s, Gwyneth Paltrow, Matt Damon, Jude Law, Marion Cotillard, Kate Winslet, Martin Short, Steve Martin, Selena Gomez, Craig Blankenhorn, Meg Wolitzer — Organizations: CNN, British, Guardian, Agence France, Presse, Hulu Watch Locations: New York, —, Chaucer’s “, Covid, York City

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