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☆ People are loving BuzzFeed's AI-generated quizzes more than their human-generated ones: report
▼ + stars: | 2023-05-16 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

People spent 40% more time with BuzzFeed's AI quizzes than human-generated ones, per Bloomberg. AI is the new Golden Child, and BuzzFeed's quizzes help prove the point. People spent 40% more time with BuzzFeed's AI quizzes than its traditional, human-generated ones, the company said in an online investor forum, per a May 12 Bloomberg report. Under the "quizzes" tab of its homepage, BuzzFeed now has entire section devoted to AI quizzes. As Futurism reported, BuzzFeed has not made a detailed breakdown of engagement numbers on its quizzes available.

☆ Elizabeth Holmes is going to prison, but the fate of her favorite accessory — the iconic black turtleneck — still hangs in the balance
▼ + stars: | 2023-05-11 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

There's a "new" Elizabeth Holmes in town, at least according to The New York Times. But did her teardown kill the black turtleneck? In March 2015, Glamour magazine asked Elizabeth Holmes about her style and ran a story about her called "Meet the $9 Billion Woman: Career Advice From Theranos Founder Elizabeth Holmes." Posters of Hulu's "The Dropout" feature Amanda Seyfried as Elizabeth Holmes, clad, of course, in the signature turtleneck look. Deep down, I don't think Homes killed the black turtleneck — not really.

☆ People are nervous AI will take their job. But they're fine with AI taking part of their job.
▼ + stars: | 2023-05-10 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

While 49% of respondents are worried AI will replace jobs, more would delegate work to AI to lessen their workloads. 80% of respondents even said they are looking for AI tools to help them summarize meetings. Amid concerns about AI replacing jobs, the data revealed an unexpected insight: Employees are afraid of losing their jobs to AI, yes. More interesting findings from the report: Not only did three in four people surveyed say they're ok with using AI for administrative tasks, 73% even said they would be comfortable using an AI tool for creative jobs. And 80% of the respondents said they are looking for AI tools to help them summarize their meetings and action items.

☆ Corporate defaults are at their highest level in years, and it's poised to get even worse. Here are the 5 biggest players who went broke in March.
▼ + stars: | 2023-05-09 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

Corporate default rates are at the highest level in years, according to a bankruptcy report released on April 14 by ratings agency Moody's. In the first quarter of the year, 33 companies rated by Moody's were unable to pay their debts. That's the highest number since the last quarter of 2020, when 47 companies defaulted on their debt, the agency said in the report. The ratings giant expects junk bond defaults could rise to 4.9% by March 2024, thanks to higher interest rates and slower economic growth. This list has been curated to highlight the biggest companies — by impact — that went broke and were unable to honor their debt obligations.

☆ Meet the 'new' Elizabeth Holmes: She's ditched the turtlenecks, abandoned the weird voice, and wants you to call her Liz
▼ + stars: | 2023-05-08 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Elizabeth Holmes gave a series of pre-prison interviews to the New York Times. There's a new Elizabeth Holmes in town, at least according to The New York Times — but no one's really falling for it. New York Times Helps Elizabeth Holmes Launder Her Reputation Before Prison" to people putting the story on blast on Twitter. "God forbid I get in any more back and forth on here today but I…..didn't hate the Elizabeth Holmes profile? Elizabeth Holmes did not immediately respond to Insider's request for comment sent via her legal representative Lance Wade after regular business hours.

☆ India working to rein in inflation- finance minister
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, May 6 (Reuters) - Inflation in India is slightly above the "tolerance limit", and the government is taking steps to control it, Indian Finance Minister Nirmala Sitharaman said on Saturday. "Because we took a very calibrated approach, today we have an inflation which is slightly above the tolerance limit, but which is constantly being worked at so it can be brought down," she said. India's annual retail inflation for March rose at the slowest pace in nearly 15 months and was below the central bank's upper tolerance level for the first time this year, on the back of softer food prices. Reporting by Nidhi Verma and P JayshreeOur Standards: The Thomson Reuters Trust Principles.

☆ It will be 'really tough' for trucking companies to stay in business if things don't pick up by Memorial Day, says an American trucking association
▼ + stars: | 2023-05-05 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Executives at trucking giant JB Hunt recently sounded the alarm about a freight recession. OOIDA, an American trucking association, is echoing the sentiment. Even industry gauges are signaling a slowdown: The American Trucking Association's for-hire contract truck tonnage index dropped by about 6% month-on-month to 95.8 in March, hitting the lowest level since August 2021. Higher inventory levels and overstocked warehouses are one of the key reasons truckers are facing a freight recession. Chappell, however, has a pragmatic outlook on the lingering effects of a freight recession on trucking companies: "Capacity will certainly leave the market, but trucking is cyclical."

☆ The U.S. Is Running Out of Research Monkeys
▼ + stars: | 2023-05-04 | by ( Nidhi Subbaraman | ) www.wsj.com time to read: 1 min

Macaques used in scientific research played an important role in Covid vaccine testing. Photo: kathleen flynn/ReutersAmerica’s monkey shortage is getting worse. The pandemic has exacerbated a continuing supply crunch, throttling research and threatening the country’s ability to respond to public health disasters, including the next pandemic. That is according to a new report published Thursday by the National Academies of Sciences, Engineering and Medicine that noted that new ways of studying biology, using artificial-intelligence models or cells in culture, aren’t ready to replace testing in monkeys.

☆ Dr. ChatGPT? Physicians Are Sending Patients Advice Using AI
▼ + stars: | 2023-04-28 | by ( Nidhi Subbaraman | ) www.wsj.com time to read: 1 min

UC San Diego Health began testing an AI tool in April. Photo: mike blake/ReutersBehind every physician’s medical advice is a wealth of knowledge, but soon, patients across the country might get advice from a different source: artificial intelligence. In California and Wisconsin, OpenAI’s “GPT” generative artificial intelligence is reading patient messages and drafting responses from their doctors. The operation is part of a pilot program in which three health systems test if the AI will cut the time that medical staff spend replying to patients’ online inquiries.

☆ ChatGPT Will See You Now: Doctors Using AI to Answer Patient Questions
▼ + stars: | 2023-04-28 | by ( Nidhi Subbaraman | ) www.wsj.com time to read: 1 min

Behind every physician’s medical advice is a wealth of knowledge, but soon, patients across the country might get advice from a different source: artificial intelligence. In California and Wisconsin, OpenAI’s “GPT” generative artificial intelligence is reading patient messages and drafting responses from their doctors. The operation is part of a pilot program in which three health systems test if the AI will cut the time that medical staff spend replying to patients’ online inquiries.

☆ Jamie Dimon's 'tone deaf' return to office mandate is getting pushback from JPMorgan staffers, who are complaining about being stuck on Zoom calls even while in the office: Reuters
▼ + stars: | 2023-04-28 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

JPMorgan is now mandating all managing directors work from the office five days a week. But that rubbed some workers the wrong way, who vented on an internal messaging system, per Reuters. They griped about being stuck in virtual meetings despite being in the office, long commutes, and family responsibilities. In the same video, Clarke even lauded one employee's work ethic who he said "sold their family dog" to improve work performance. Read the JPMorgan return to office memo in full here.

☆ Mark Zuckerberg, whose Meta laid off thousands of people, is now the 12th richest person on the planet after his wealth surged to $87 billion
▼ + stars: | 2023-04-28 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Zuckerberg's wealth shot up by $10 billion to top $87 billion on Thursday. Meta has laid off thousands of staffers, which likely impacted the company's productivity and dented employee morale. Because of that, Zuckerberg's wealth shot up by $10 billion to top $87 billion, the highest it's been in over a year. He is now the 12th richest person on the planet, per the Bloomberg Billionaire Index. These cuts are on top of the 11,000 jobs Meta already axed in November, part of the company's broader play to make 2023 its "year of efficiency."

☆ Business travel spending in the US and Europe could bounce back to pre-pandemic levels by 2024, but inflation may shrink the spending pie: Deloitte
▼ + stars: | 2023-04-27 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Business travel could recover to pre-pandemic levels by the end of 2024, per a Deloitte survey. But travel spending might be 10% to 20% lower than pre-pandemic levels due to inflation, per Deloitte. There's good and bad news for those hoping for a full recovery in business travel to pre-pandemic levels. Of the 106 US-based respondents, 71% told Deloitte they expected companies to revert to 2019 travel spending levels by the end of 2024. In comparison, 68% of the 228 European respondents said business travel could recover to pre-pandemic levels by the end of next year.

☆ Mark Zuckerberg says people spent 24% more time on Instagram after Meta launched AI-powered Reels
▼ + stars: | 2023-04-27 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Meta reported revenue growth in the first quarter, reversing three consecutive quarters of decline. Mark Zuckerberg is crediting higher engagement in Instagram Reels for part of this growth. Zuckerberg said time spent on Instagram has risen by 24% since the company launched the product. On an earnings call on Wednesday, Zuckerberg said that time spent on Instagram had risen by 24% since the company launched its short-form video product Reels — a TikTok challenger. Meta also reported a net profit of $5.7 billion during the quarter, a 24% drop year-over-year — partly due to the company's restructuring.

☆ Retailers bought so much stuff during the pandemic that it's overburdening warehouses — and it may be causing a 'freight recession,' analyst says
▼ + stars: | 2023-04-26 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Executives at trucking giant JB Hunt recently sounded the alarm about a freight recession. Over-buying during the pandemic is depressing the demand for goods, which is impacting freight and transport. Executives at trucking giant JB Hunt sounded the alarm over a "freight recession" at a first-quarter conference call last week. A freight recession basically means there are fewer trucks delivering goods across America. Notably, the freight recession is not a US-only problem.

☆ He bought a budget airline for 30 cents in 2001 and turned it into one of Asia's top budget airlines. Now, he's ready to walk away.
▼ + stars: | 2023-04-26 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

In September 2001, Fernandes bought the AirAsia brand from a Malaysian government-owned conglomerate for the equivalent of 30 cents at the time. And he's ready to walk away: "Good leadership is to know when to go," he told Bloomberg in an interview published Tuesday. And though he's already talking about plans to replace him, Fernandes doesn't know "exactly when I press the button." Newly privatized carrier Air India appointed an executive of Scoot, the low-cost arm of Singapore Airlines, as CEO in June. There were also airline executive reshuffling at American Airlines and Southwest Airlines in December.

☆ The Warren Buffett of China, whose company just posted a 95% dip in annual profits, is selling billions of dollars of assets — but he says it's 'only pathetic if no one wants what we offer'
▼ + stars: | 2023-04-25 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

The company posted a 95% year-on-year dip in annual 2022 profits. "It's not pathetic that we are selling assets," he said at an entrepreneur forum in March, per Bloomberg. Hong Kong stock exchange-listed Fosun International's shares have rebounded to 5.4 Hong Kong dollars, or $0.7, apiece on Tuesday, from a low of 4.6 Hong Kong dollars in September. They're still down from about 7.8 Hong Kong dollars in late January. Fosun International's market capitalization is around 44 billion Hong Kong dollars now.

☆ Analysts are torn on how Fox News' ratings will be affected after Tucker Carlson's ousting craters the company's stock
▼ + stars: | 2023-04-25 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

Tucker Carlson's exit from Fox News wiped $962 million from the network's market value on Monday. But analysts are torn about the long-term impact of the host's ouster on Fox Corp stock. But financial analysts are torn about the impact Carlson's departure will have on Fox Corporation's stock — which lost about $962 million in market value on Monday after news broke of the departure. Matthew Tuttle, the CEO and CIO of Tuttle Capital Management, told Bloomberg that Carlson's exit is "definitely going to leave a mark on Fox." But not all analysts shared the gloomy projection for Fox Corp stock in the long term.

☆ Russian oil slashes OPEC's share of Indian market to 22-year low
▼ + stars: | 2023-04-24 | by ( Nidhi Verma | ) www.reuters.com time to read: +3 min

OPEC's share shrank as India, which in the past rarely bought Russian oil due to high freight costs, is now the top oil client for Russian seaborne oil, rejected by Western nations following Moscow's invasion of Ukraine in February 2022. India's oil importsIndia shipped in about 1.6 million barrels per day (bpd) of Russian oil in 2022/23, the data showed, about 23% of its overall 4.65 million bpd imports. Higher intake of Russian oil boosted the share of Commonwealth of Independent States (C.I.S.) India's oil imports from various regionsIn March, India shipped in nearly 5 million bpd of oil, marginally higher than the previous month, with Russian oil accounting for about 36% of overall imports, the data showed. "OPEC's output cut decision is helping Russia as well," said Haq, adding the planned supply cut has lifted global oil prices and at the same time narrowed the discounts for Russian oil against Brent and Dubai benchmarks.

☆ Indian cos sometimes face delays in paying for Russian oil above $60/bbl - oil secretary
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, April 24 (Reuters) - Indian companies "sometimes" face delays in paying for Russian oil priced above the $60 cap per barrel fixed by the Western nations, India's oil secretary Pankaj Jain said on Monday. "Nobody stops us from buying Russian oil at above the price cap level provided. In case of Russian oil priced above the cap, the companies on their own manage to find alternative mechanisms to settle payments, he said, adding most Russian oil supplies to India are made at below the price cap level. He also said India is seeking to buy oil at discounts from other countries depending on grades. India has significantly increased oil imports from Russia since the beginning of the conflict in Ukraine.

HOUSTON/NEW DELHI, April 21 (Reuters) - South America's fastest growing oil producer has turned down the Indian government's request for discounted crude oil purchases during trade discussions, Guyana Vice President Bharrat Jagdeo said on Thursday. Guyana's oil production in total has tripled from a year ago to about 380,000 barrels of oil per day. "Any sale of our crude will have to be on commercial terms, not a discounted terms," Jagdeo said at a briefing. Indian buyers have sought a discount to compensate for high freight costs to send its oil to the Asian country, Jagdeo said. "Guyana crude is costly for us because of high freight.

☆ Workers in the US now want at least $76,000 to start a new job as minimum wage expectations continue to rise in a red-hot job market
▼ + stars: | 2023-04-19 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Employees' wage expectations have risen to $76,000 a year, according to a New York Fed survey. The rise in expected salary levels comes at a time of historically low unemployment rates in America. Those with a college degree raised their reservation wage expectations by about $5,000 to over $97,000. The rise in expected salary levels makes sense, as it comes at a time of historically low unemployment rates in America. This, in turn, leads to employees upping their salary expectations to combat inflation's erosive effects.

☆ Pacific Ocean Garbage Patch Is Bursting With Life
▼ + stars: | 2023-04-17 | by ( Nidhi Subbaraman | ) www.wsj.com time to read: 1 min

An 80,000-ton cloud of plastic and trash floating in the Pacific Ocean is an environmental disaster. It is also teeming with life. Biologists who fished toothbrushes, rope and broken bottle shards from the Great Pacific Garbage Patch found them studded with gooseneck barnacles and jet-black sea anemones glistening like buttons. All told, they found 484 marine invertebrates from 46 species clinging to the detritus, they reported Monday in the journal Nature Ecology & Evolution.

☆ India, Russia in talks on free trade deal
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] Indian Foreign Minister Subrahmanyam Jaishankar attends a news conference following talks with his Russian counterpart Sergei Lavrov in Moscow, Russia, November 8, 2022. Maxim Shipenkov/Pool via REUTERSNEW DELHI, April 17 (Reuters) - India and Russia are discussing a free trade agreement, ministers said on Monday, a move that would further deepen bilateral commercial ties that have flourished since war broke out in Ukraine. Russia, a traditional defence equipment supplier, also displaced Iraq last month to become India's top supplier of crude oil. Moscow was looking to increase machinery imports from India to improve the trade balance, Manturov said. India too aims to narrow its growing trade deficit with Russia, which has been India's largest supplier of military equipment for decades and is the fourth-biggest market for Indian pharmaceuticals.

☆ Russia's Gazprombank deepens ties with Indian banks for bilateral trade
▼ + stars: | 2023-04-17 | by ( Nidhi Verma | ) www.reuters.com time to read: +1 min

Trade between India and Russia has surged since the West imposed sanctions against Russia for its invasion last year of Ukraine, which has altered flows of oil and other goods. "Now we have infrastructure, we have payments from banks ... it is much better than it was three months ago," she added. Gazprombank is Russia's third-largest lender by assets and a key conduit of the Russian energy trade. Due to higher purchases of oil, the trade balance is tilted increasingly in favour of Russia. India last year implemented a broader framework to facilitate overseas trade in rupees and since then many foreign banks, including Gazprombank and other Russian institutions, have opened vostro accounts with Indian banks.

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