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A number of Big Tech companies have laid off staff this year, including Google, Tesla, Apple, and dozens more. Ironically, companies haven't been slowing down on innovation, with many releasing a constant stream of AI updates and product launches. Mark Zuckerberg shared his theory on the first round of industry-wide layoffs in an interview with "Morning Brew Daily" in February. AdvertisementSalesforce CEO and cofounder Mark Benioff also relayed the same sentiment in a letter to employees announcing layoffs in 2023. But for the moment, tech companies don't seem to be slowing down on AI advancement.
Persons: , Mark Zuckerberg, Jason Citron, Sundar Pichai, Mark Benioff, Zuckerberg, Emily Chang, Wayfair's cofounders, Niraj Shah, Steve Conine, Jobs, Satya Nadella, Arvind Krishna, Drew Houston Organizations: Service, Big Tech, Google, Apple, Business, Bloomberg, ARM, IBM, Dropbox Locations: Zuckerberg's
Former President Donald Trump, left, and President Joe Biden take part in the CNN presidential debate on Thursday, June 27. Austin Steele/CNN Trump and Biden were debating each other for the first time since 2020. Austin Steele/CNN Biden's campaign won a coin toss before the debate to choose which side he would stand on. Austin Steele/CNN Biden addresses Trump directly during the debate. Austin Steele/CNN Biden answers an early question.
Persons: Joe Biden, Donald Trump ., Biden, Trump, , ” Trump, he’d, it’s, ” Biden, Biden’s, Hunter, Stormy Daniels, Trump’s, Jake Tapper, Dana Bash, Roe, , Tristen Rouse, Joe, – Biden flailed, Austin Steele, We’d, Herbert Hoover, David, “ I’ve, Beau, Daniels, Trump “, Wade, “ It’s, Israel, , Donald Trump, Will Lanzoni, Jill Biden, Adam Rose, CNN US Sen, Marco Rubio, CNN Trump, CNN Biden, CNN Tapper, Robert F, Kennedy Jr, Kennedy, CNN MJ Lee, Mandel Ngan, Megan Varner, Reuters Kennedy, Burk Stringfellow, Vladimir Putin, Putin, we’ve, I’m, Hillary Clinton –, South Carolina Republican Sen, Tim Scott, – Biden, freefall ”, Tapper – Organizations: CNN, Biden, Trump, Democratic, ABC, , Atlantic, Capitol, Capitol Hill, US Supreme Court, CNN US, House, CNN Biden's, CNN Biden, Atlanta, White House, Getty, Reuters, NATO, Ukraine, Western Europe, South Carolina Republican, Blacks, Trump – Locations: Atlanta, Washington ,, America, Iraq, United States, Israel, Gaza, Palestinian, Georgia, CNN's, AFP, Afghanistan, Russian, Ukraine, Iran, Wisconsin , Michigan, Pennsylvania, North Carolina, South, freefall, Covid
"The country is today facing an attempted coup d'etat," Arce said, according to a CNBC translation. All of the units," Zuniga said during the military movement, according to a CNBC translation. Asked whether the coup forces were seeking to take over the Bolivian presidential residence, the general confirmed "yes." "Spain strongly condemns the military movements in Bolivia," Spain's Prime Minister Pedro Sanchez said on social media platform X, according to a CNBC translation. he said on social media, according to a CNBC translation.
Persons: Luis Arce Catacora, Juan Jose Zuniga, Luis Arce, " Arce, Maria Nela Prada, Jose Wilson Sanchez, Edmundo Novillo, Zuniga, Ivan Lima, Eduardo del Castillo, Juan Arnez Salvador, Zuniga —, Evo Morales —, Josep Borrell, Pedro Sanchez, Arce Organizations: Murillo, Bolivian, CNBC, de Murillo, Soldiers, Associated Press, Defense, Government, U.S, Monetary Fund, European Union, South Locations: Bolivia, La Paz, Spain, Venezuela, Paraguay, Cuba, Chile, Bolivian
Indianapolis has the highest birth rate among major US cities, per SmartAsset analysis. It used US Census data from 2021-2022 to compare birth rates in 37 large cities. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIndianapolis is the US city with the highest birth rate, according to a new analysis by the financial technology company SmartAsset. SmartAsset analyzed the most recently available US Census data for 37 of the largest US cities to determine where birth rates and family sizes are the highest and lowest.
Persons: , SmartAsset Organizations: Indianapolis, Service, Business Locations: Indianapolis
EToro surveyed 10,000 retail investors in 12 countries to see what they're holding in their portfolios, collecting data from the period of May 15 to June 5, 2024. Thirty-eight percent and 32% of retail investors in these countries, respectively, own cryptocurrency, compared to 27% in the US. Top stock market picksEquities remain popular among retail investors, coming in second only to cash. Unsurprisingly, technology was a top pick for retail investors eager to take advantage of the tech-driven market rally of this year. Other areas of interest include real estate, communications, and healthcare, with 30% or more of retail investors indicating that they were invested in these sectors.
Persons: , eToro, Cash, Sam North, Cryptocurrency Organizations: Service, Business, ECB Locations: EToro, Spain, Germany
Read previewAs companies and startups race to implement artificial intelligence into their products, Airbnb CEO Brian Chesky and OpenAI co-founder Sam Altman have a word of caution: Don't leave society behind. "I think that if everyone here could feel like they could participate and they could have their input into it, then I don't think there's a huge thing to fear," Chesky said. A few former board members accused Altman of lying to colleagues and creating a toxic culture through "psychological abuse." While researchers fear that AI will exacerbate the loneliness epidemic, Chesky believes the tool will "help bring people together." "At the end of the day, it's not the technology; it's the people with the technology," Chesky said, referring to those who are building with AI.
Persons: , Brian Chesky, Sam Altman, Chesky, NBC News's Lester Holt, Altman, OpenAI's ChatGPT, ethicists, Sam didn't, Helen Toner, Jan Leike, Leike, it's Organizations: Service, NBC, Aspen Ideas, Business, OpenAI, Rhode Island School of Design
Climate advocates and business groups are closely watching the US Supreme Court this week. The court could issue a ruling that sharply curtails the federal government's power to regulate the environment, including President Joe Biden's climate policies. Legal experts say the Supreme Court, with its conservative majority, is likely to overturn or significantly limit the Chevron doctrine. Meanwhile, he added, administrative lawyers have been preparing for this very scenario at the Supreme Court. Biden's EPA hasn't relied on the Chevron doctrine to defend its climate rules.
Persons: Joe Biden's, Charles Koch, Chevron, Biden, isn't, Ronald Reagan, David Doniger, Reagan, Doniger, Obama, Neil Gorsuch, Elena Kagan, Trump Organizations: Service, Business, Action Institute, Environmental, Agency, Natural Resources Defense Council, Chevron, Trump, EPA, Republican, Supreme Locations: Chevron
My fiancée and I spend about $40 buying groceries at Aldi each week. 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 . Two years ago, we could get by on a grocery budget of $20 a week, but rising inflation changed all that. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Aldi, Service, Business
Forty-seven percent of millennials were willing to take on debt to fund summer travel. Gen Z trailed close behind, with 42%, while Gen X and boomers were 31% and 22%, respectively. AdvertisementMeanwhile, Credit Karma's survey found that nearly 40% of Gen Z and millennials said they'll prioritize summer travel over their finances. Funding a summer of funNearly a quarter of Gen Z and millennials anticipate going into almost $2,000 in debt across the summer, according to Credit Karma's survey. For 11% of Gen Z and 8% of millennials, that summer debt forecast surpasses $4,000.
Persons: , Taylor Swift, Credit Karma, Zers, Gen Z, Gen X, millennials, Gen, they're, X Organizations: Service, Credit, Bank of America, Business Locations: Europe, Southeast Asia, Florida, California
Read previewThe Supreme Court dealt a blow to the US Securities and Exchange Commission in a ruling Thursday, sharply limiting the way it pursues financial fraud cases. Until Thursday, the SEC had two ways of pursuing fraud cases. Or it could bring an "administrative proceeding" in its own in-house court, where it appoints its own judges and the cases have no juries. They handle all sorts of cases, not just financial fraud. Justice Sonia Sotomayor, who wrote the dissenting opinion, wrote that the majority decision disrespected the separation of powers between the different branches of government.
Persons: , John Roberts, Roberts, Dodd, Frank, George Jarkesy Jr, Justice Sonia Sotomayor, Sotomayor Organizations: Service, US Securities and Exchange Commission, SEC, Business, US Senate, Department of Labor, Occupational Safety, Health Administration Locations: United States
The workplace drama I'm now highly invested in is from the Mohawk Chevrolet dealership in Ballston Spa, New York. The three-person marketing team in charge of posting on social media would sometimes try to jump on a TikTok trend or some other kind of lighthearted fare. So far, nothing out of the ordinary for a car dealership, this one founded in 1919 with the slogan "We go out of our way to please you." But then, somehow, they made a masterpiece — a mockumentary about the dealership in the style of "The Office." But is a viral video from a local car dealership actually good for sales?
Persons: , I'm, Nathanael Greklek, Ben Bushen, Grace Kerber, Bushen, Guy Fieri, Kerber, They've Organizations: Service, Mohawk Chevrolet, Business, Chevy, Chevrolet, Honda, BMW Locations: Ballston Spa , New York, Saratoga
Japan's Olympic teams will wear infrared-proof uniforms at the Paris Olympics. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA brand-new innovation is coming to the Paris Olympics this summer: uniforms that creeps can't see through with infrared cameras. Japan's volleyball, track and field, table tennis, and other teams will wear uniforms made of a cutting-edge new fabric that absorbs infrared light, preventing infrared cameras from seeing through to athletes' underwear or bodies underneath, Le Monde first reported. This story is available exclusively to Business Insider subscribers.
Persons: Mizuno, , Le Monde Organizations: Olympic, Paris, Service, Le, Business
Discounted Russian gas is hitting European markets, the Center for European Policy Analysis said. AdvertisementRussia has unleashed discounted gas onto European markets, working to keep countries hooked on its energy supply, the Center for European Policy Analysis said. Although the Ukrainian route has continued supplying Western markets through the war, its January expiration would likely be enough to risk a Gazprom bankruptcy. Slovakia, Hungary, and Austria are among examples CEPA cited as customers for Russian gas. AdvertisementAlready, Southern European traders are profiting by buying cheap Russian gas pumped through a Turkish pipeline and then selling it at a premium in Western European markets, she suggested.
Persons: , It's, Aura Sabadus, CEPA, Sabadus Organizations: Center for, Kremlin, Service, Ukraine —, Moscow, Gazprom Locations: Ukraine, Russia, Ukrainian, Eastern, Slovakia, Hungary, Austria, Gazprom's, Southern, Turkish, Poland
Brimming with entrepreneurs and around 1,000 startup companies, it embodies France's exciting tech industry. So if you could rank Europe's tech hubs, what would be your top three? But I'm really excited about Lisbon actually, I know the Mayor of Lisbon pretty well, have been hearing really positive things. I mean things like that could just be completely deprioritized, which is essentially what has been helping us move things forward in France. Under Macron what have been for you the big positives that have come out of his presidency and tech push more broadly.
Persons: Tom Chitty, Roxanne Varza, Bruno Le Maire, Tom Chitty The, you'll, Arjun, I've, Roxanne, Macron, we'd, we've, Tom Chitty Let's, Xavier Niel, he's, Roxanne Varza That's, we're, I'm, Roxanne Varza Paris, Tom Chitty Arjun, Arjun Kharpal, What's, There's, you've, haven't, They're, Roxanne Varza Big, Tom Chitty U.S, Arjun Kharpal It's, who's, that's, there's, they've, we'll, Tom, Tom Chitty We'll Organizations: Meta, Google, CNBC, Uber, Accel, Dealroom, Mistral, Viva Tech, Sequoia Capital, Big Tech, Microsoft, French Finance, London Stock Exchange, London . Locations: Paris, France, French, Europe, beyondthevalley@cnbc.com, London, Berlin, U.S, Silicon Valley, Palo Alto, Bay, Amsterdam, Lisbon, Old, Shoreditch, London . Tel Aviv
The news industry just gained a powerful ally in its effort to take on OpenAI. The Center for Investigative Reporting, the country's oldest nonprofit newsroom, sued OpenAI and lead backer Microsoft in federal court on Thursday for alleged copyright infringement, following similar suits from publications including The New York Times , Chicago Tribune and the New York Daily News. In December, The New York Times filed a suit against Microsoft and OpenAI, alleging intellectual property violations related to its journalistic content appearing in ChatGPT training data. Martin and Jodi Picoult, sued OpenAI last year, alleging copyright infringement in using their work to train ChatGPT. Reddit also announced in May that it will partner with OpenAI, allowing the company to train its AI models on Reddit content.
Persons: Sam Altman, OpenAI, OpenAI's, chatbot, Defendants, Monika Bauerlein, Bauerlein, Mother Jones, ChatGPT, Microsoft didn't, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult, Reddit Organizations: Softbank Ventures, Center, Investigative, Microsoft, New York Times, Chicago Tribune, New York Daily News, of, The New York Times, Times, Southern, The Chicago Tribune, OpenAI, Time, News Corp, Wall Street, Barron's, New York Post, Apple Locations: Softbank Ventures Asia, Seoul, South Korea, Southern, of New York, U.S
Investors should consider using the pullback in Micron Technology to snatch up shares, according to several Wall Street analysts. His $175 price target implies upside of more than 22% from Wednesday's close. Goldman Sachs analyst Toshiya Hari also viewed the drop as a buying opportunity, citing expectations for growth in AI compute and high-bandwidth memory market share gains. Hari has a price target of $158, signaling 11% upside over the next 12 months. MU 1D mountain Micron shares fall on in-line guidance Wells Fargo's Aaron Rakers reiterated his overweight rating and $190 price target, implying more than 33% upside.
Persons: Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Harlan Sur, Bernstein, Mark Li, Timothy Arcuri, Wells Fargo's Aaron Rakers, Vivek Arya Organizations: Micron Technology, MU, Micron, UBS, Bank of Locations: Wednesday's, CY25, ramping HBM
General Mills will boost product flavors to attract price-conscious customers amid inflation. 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 . The snack and cereal maker said it will improve the taste of some of its biggest products to boost sales as inflation continues to hit consumers. This story is available exclusively to Business Insider subscribers.
Persons: Mills, , Jeff Harmening Organizations: Service, Business
Stocks edged higher on Thursday ahead of PCE inflation data set to be released on Friday. Jobless claims rose less that expected last week, with 233,000 people seeking unemployment benefits. AdvertisementUS stocks edged higher on Thursday as traders assessed corporate earnings and waited on new inflation data to help inform rate-cut bets heading into the second half of 2024. AdvertisementOn the macro front, jobless claims were lower than expected, declining by 6,000 to 233,000 for the week ending June 22. Finally, traders are preparing to digest the latest personal consumption expenditures data, which is the Fed preferred inflation measure.
Persons: Walgreen, , they've, Chris Zaccarelli Organizations: Micron, Service, Nvidia, Walgreens, Federal Reserve, Here's
"The stock price has lagged but we don't see any other catalysts medium term, hence we are moving to the sidelines." Micron shares were down 5% in the premarket. The analyst reiterated a buy rating on Micron stock with a $175 per share price target, implying nearly 23% upside from Wednesday's $142.36 close. He raised his price target to $158 per share price from $138, calling for 11% upside. Arya maintained a buy rating on Micron stock with a $170 per share price target, or about 19% upside moving forward.
Persons: Vivek Juneja, — Brian Evans, TD Cowen, Cowen, John Blackledge, Keefe, David Konrad, Brian Evans, Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Vivek Arya, Arya, Caio Ribeiro, Ribeiro, Fred Imbert Organizations: CNBC, Micron Technology, Bank of America, Petrobras, JPMorgan downgrades U.S, Bancorp, JPMorgan, U.S . Bancorp, New York Mellon, Bank of New, Bank of New York Mellon, BK, Mellon, Micron, MU, Citi Locations: Brazil, U.S, Bank of New York, CY2025
Beijing Meteorological Observatory issued the first yellow alert for high temperatures in 2024, with the highest temperature in the city reaching 35 degrees Celsius. New Delhi topped the list of hottest cities, recording 4,222 days above 35 degrees Celsius in the past three decades – more than any other city analyzed. In 2018, Seoul saw 21 days over 35 degrees Celsius — more than the previous 10 years combined. Beijing’s number of days over 35 degrees has increased by 309% since 1994. In October 2023, Jakarta experienced 30 consecutive days over 35 degrees Celsius — more days than during the entire period between 1994 and 2003.
Persons: , , Tucker Landesman, there’s, “ We’ve, Kalyani Saha, , Anthony Wallace, CNN he’d, Sagar, Young, Parveen Kumar Organizations: Hong Kong CNN, International Institute for Environment, Development, Egypt’s, , Palace Museum, Beijing Meteorological Observatory, CNN, Getty, NGO Centre, Health Development India, Hindustan Times, Dartmouth Locations: Hong Kong, Asia, Buenos Aires, Argentina, Paris, Egypt’s Cairo, Beijing, China, Southeast Asia, India, New Delhi, Delhi, Lajpat Nagar, South East Delhi, Seoul, AFP, Jakarta, South Korea, rehydrate, Gurugram
CNN —A posted sign in a kitchen reads “Every Second Counts,” but “The Bear” is clearly in no hurry during its third season, proceeding at the slow-cooked pace of a show simmered in accolades and Emmys. The latest season’s first episode nicely sets the table for the nine episodes to come, playing almost like a visual poem while reintroducing the characters. Ricky Staffieri, Jeremy Allen White and Matty Matheson in "The Bear." What “The Bear” has lost is the element of surprise that greeted its arrival. “The Bear” launched its third season June 26 on Hulu.
Persons: CNN —, “ Barry ”, , Jackie ”, “ Ted Lasso, , Christopher Storer, Ricky Staffieri, Jeremy Allen White, Matty Matheson, Chuck Hodes, Carmy, Calvin Klein, Storer Organizations: CNN, Hulu Locations:
Chewy and Petco shares spiked briefly on Thursday after Keith Gill posted a dog on his X account. Chewy shares were up as much as 28%, while Petco shares surged as much as 13%. The petcare stocks spiked around 1:00 p.m. as Gill posted the image. Shares soared again when the famous retail trader posted screenshots on his Reddit account, which revealed he owned 5 million shares of GameStop stock. He's since nearly doubled his stake to 9 million shares and is among the top holders of the video game retailer's stock.
Persons: Keith Gill, , Gill, Chewy, Petco Organizations: Service, Petco, Wellness Company, GameStop
Singapore Airlines won the 2024 Skytrax award for the world's best first-class service. The airline's Airbus A380 planes sport a hotel-like suites that can convert into double rooms. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It fought Doha-based competitor Qatar Airways for Skytrax's 2024 title of world's best airline, winning in 2023 but losing to Qatar this year. However, one Skytrax awards category Singapore has consistently won since 2018 is Best First Class for the hotel-like suites on its Airbus A380s.
Persons: Organizations: Singapore Airlines, Airbus, Service, Qatar Airways, Qatar, Singapore, Business Locations: Doha
The median home price in May was $442,500, up from $441,000 in 2023, according to Realtor.com. Still, several big US cities saw home prices drop in May compared to the same time period in 2023. Miami saw the biggest decline — home prices fell by 11.2% year-over-year to $439,000. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: Realtor.com, Organizations: Miami, Service, Business
If gymnastics is your jam, we'll show you everything you need to know about where to watch the US Olympic Gymnastics Trials this week, including when you can expect to see Simone Biles compete. Whether you're just hoping to see Simone Biles or you want to watch the entirety of the US Olympic Gymnastics Trials, we've got you covered. Where to watch US Olympic Gymnastics Trials in the USThe US Olympic Gymnastics Trials take place from June 27 to June 30 across the NBCUniversal umbrella of viewing options. Peacock Premium (Monthly Plan) Peacock is a convenient streaming source for hit NBC TV shows, Universal movies, and select sports like Sunday Night Football. Check price at FuboHow to watch US Olympic Gymnastics Trials from anywhereIf you'll be traveling outside the US during any of the trials, you can still keep up with your subscriptions via VPN (virtual private network).
Persons: Simone Biles, Gabby Douglas, Sunisa Lee, Brody Malone, Frederick Richard, we've, Peacock, Fubo, ExpressVPN Organizations: Business, Paris Olympics, NBC, Olympics, USA, Sling Locations: Paris, USA, Peacock
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