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OnlyFans' CEO is tired of you calling it 'porn'
  + stars: | 2024-02-29 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +4 min
Read previewOnce again, executives at OnlyFans want to make it clear: the platform isn't a porn site. Calling OnlyFans a place for "adult content" is a more accurate description of the platform than a porn site, Blair said. The site hosts a variety of content outside porn that caters to people aged 18 and older and adheres to its terms of service. Amrapali Gan, the former CEO of OnlyFans who stepped down from the helm in July 2023, said in an interview that there have been plenty of misconceptions about the site being explicitly made for porn. Blair told FT the company is "doing well financially."
Persons: , Keily Blair, OnlyFans, Blair, didn't, Blair isn't, Amrapali Gan, Gan, bode, Rae Richmond Organizations: Service, Financial Times, Business,
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Market confidence can rebound if Beijing is less hesitant about implementing solutions, specifically those targeting its spanning property sector and domestic consumption. Lower rates would depreciate the yuan, some fear, but this risk would diminish alongside an economic support package, Wang said. Advertisement"The benefit of rate cuts is likely to far outweigh the negative impact of modestly widening the US-China rate gap," she noted.
Persons: Tao Wang, , Wang Organizations: UBS, FT, Service, Financial Times Locations: China, Beijing, Shanghai
AdvertisementThe drama playing out within the upper ranks of Goldman Sachs is continuing to unfold, and CEO David Solomon's troubles with senior partners don't appear to be over yet. (Garcia's co-head of European investment banking, Anthony Gutman, is also said to have been named to the committee.) Bloomberg reported this week that Beth Hammack — a longtime Goldman partner, co-head of the global financial group, member of the management committee, and former CEO of Goldman Sachs Bank USA — is set to step down. And when Esposito broke the news last month of his imminent departure in a note to partners and clients, he wrote, wistfully, that he planned to "bleed Goldman Sachs forever." Are you a Goldman Sachs or Wall Street insider?
Persons: Goldman Sachs, David Solomon's, who's, Mark Sorrell, Gonzalo Garcia, Joshua Franklin, Arash Massoudi, Kim Posnett, Sorrell —, Sir Martin Sorrell, Stephan Feldgoise, Anthony Gutman, Sorrell, Gutman, Garcia, Goldman, Alison Mass, George Lee, Jim Esposito —, , Solomon, Adebayo, Beth Hammack —, Esposito, wistfully, Reed Alexander Organizations: Financial, IB, Reading, Goldman, Bloomberg, Goldman Sachs Bank Locations: Miami
Reserves held by big banks as a buffer against loan losses dipped below the amount of delinquent commercial real estate debt, per the FT.Late payments on commercial mortgages have jumped in the past year. Commercial real estate loans at least 30 days delinquent soared to $9.3 billion among the top banks last year. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe volume of commercial mortgages at least 30 days late on payment soared past total reserves held by the largest US banks last year.
Persons: , Goldman Sachs, Morgan Stanley, Wells Fargo Organizations: Service, Federal Deposit Insurance Corporation, The Financial Times, Bank of America, JPMorgan Chase, Citigroup, Business Locations: Wells
The European Commission is set to fine Apple about 500 million euros ($539 million) over alleged breaches of EU competition law, the Financial Times reported on Sunday, citing unnamed sources with knowledge of the matter. Brussels first launched an investigation into allegations that Apple hindered third-party music services on its devices and favored its own Apple Music service, after Spotify filed a formal complaint to regulators in 2019. In most regions, Apple's App Store rules prohibit companies such as Spotify from billing users for subscriptions directly within the app, making them instead use Apple's App Store billing service, which takes a cut of up to 30%. The latest version of the probe focused on whether Apple had restricted apps from informing users about cheaper subscription alternatives outside of its native App Store and thus violated EU competition laws. If imposed, the fine would be one of the most substantial financial penalties the EU has imposed on a major technology company.
Persons: Apple Organizations: European, Apple, Financial Times, Apple Music, Spotify, EU, Google Locations: Brussels, France
Apple blocked rivals from telling users about cheaper options, the EU is expected to say next month. Apple is expected to be fined by the European Union for the first time, according to reports by the Financial Times and Bloomberg. The EU is set to impose a penalty of about 500 million euros ($539 million) in early March, the FT reported. AdvertisementThe EU is expected to find that Apple placed “unfair trading conditions” on rivals to its Apple Music service, per the reports. The streaming company claimed Apple’s App Store rules “purposely limit choice and stifle innovation” by imposing a 30% commission on app developers.
Persons: Daniel Ek, Apple didn’t Organizations: Apple, European Union, Financial Times, Bloomberg, EU, Apple Music, Spotify, Digital Markets, Business Locations: EU
(Reuters) - Brussels should incentivise Europe's defence industry to ramp up production and promote consolidation, European Commission President Ursula von der Leyen told the Financial Times in an interview on Thursday, warning that the "world has got rougher". Proposals in the commission's plan include using the EU budget to increase financing to supplement joint contracts for weapons signed by member states, as well as guaranteeing that production will be bought, EU officials told FT."We have a very fragmented defence market and that needs to change," FT quoted von der Leyen as saying. "What is the competence of the commission? It's industry. (Reporting by Disha Mishra in Bengaluru)Photos You Should See View All 22 Images
Persons: Ursula von der Leyen, der Leyen, Disha Mishra Organizations: Reuters, Financial Times, EU Locations: Brussels, Bengaluru
Japan Takes Another Shot at Next-Generation H3 Rocket Launch
  + stars: | 2024-02-14 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +5 min
The Japan Aerospace Exploration Agency (JAXA) plans to launch its second H3 on Saturday from its Tanegashima Space Center in southern Japan. The setbacks of the H3 and another small rocket, Epsilon, have caused widespread delays in Japanese satellite launches. Saturday's H3 launch carries a dumbbell-shaped 2.6-ton dummy mass simulating a satellite payload. Launch operator Mitsubishi Heavy hopes to launch six H3s a year once stable production is established. Another objective is to win orders from global clients, as satellite launch demands have skyrocketed thanks to affordable commercial vehicles such as SpaceX's reusable Falcon 9.
Persons: Kazuto Suzuki, Masayuki Eguchi, Lockheed Martin, Masashi Okada, Okada, Ko Ogasawara, Ogasawara, Kairos, Kantaro Komiya, Gerry Doyle Organizations: SLIM, University of Tokyo, Japan Aerospace Exploration Agency, JAXA, Mitsubishi Heavy Industries, Mitsubishi, Epsilon, Canon Electronics, U.S, European Space Agency, United Launch Alliance Vulcan, Boeing, Lockheed, Tokyo University of Science, Technologies Locations: TOKYO, Japan, United States, India, Tokyo
The European Union wants to sanction three Chinese companies for supporting Russia, according to reports. This would mark the first time the bloc has sanctioned Chinese and Indian businesses since the invasion of Ukraine. AdvertisementThe European Union wants to sanction three Chinese companies due to their ties to Russia, according to reports by Bloomberg and the Financial Times . In April 2023, European Commission president Ursula von der Leyen traveled to Beijing to warn China’s leader Xi Jinping not to support Russia’s war efforts. "This visit is taking place in a challenging and increasingly volatile context, in particular because of Russia's war of aggression against Ukraine," she said in a press conference .
Persons: , hasn’t, Ursula von der Leyen, China’s, Xi Jinping, von, Leyen Organizations: European Union, Bloomberg, Service, Union, Financial Times, EU, Kremlin, Moscow, European Locations: Russia, Hong Kong, India, Serbia, Turkey, Ukraine, Kazakhstan, Sri Lanka, Thailand, EU, China, Beijing
Read previewAs the second anniversary of Russia's unprovoked invasion approaches, the situation is beginning to look bleak for Ukraine. But the offensive failed to achieve a breakthrough, and Ukraine is now seeing crucial support from its allies bleed away. Ukraine has previously warned it may not be able to successfully defend itself against Russia without US help. The Senate on Tuesday passed a $95 billion emergency defense aid bill that could help Ukraine. According to reports, Ukraine is struggling to fight off Russian attacks, particularly around the city of Avdiivka, in Donetsk, east Ukraine.
Persons: , Volodymyr Zelenskyy, Valerii Zaluzhny, Valery Zaluzhny, Zaluzhny, Ryan Evans, I'm, Patrick Bury, Michael Kofman, Zelenskyy, Mykhailo Fedorov, they've, Grant Shapps, That's, Basil Germond, Putin, Kofman, Donald Trump, Tucker Carlson Organizations: Service, Business, Representatives, Bloomberg, CNN, Washington Post, UK's University of Bath, CNA Corporation, Associated Press, Reuters, Bury, Defense Intelligence, YouTube, UK's Defence, Black, Fleet, Lancaster University, Republican, Fox News, Ukraine, Trump Locations: Ukraine, Huliaipole, Russia, , Zelenskyy, Ukrainian, Avdiivka, Donetsk, Bury, Iran, North Korea, Al, NATO, Sevastopol, Crimea, Russian
In this article 981-HK Follow your favorite stocks CREATE FREE ACCOUNTA Chinese flag next to a printed circuit board with semiconductor chips. Florence Lo | ReutersChina's biggest chipmaker SMIC seems to have been manufacturing advanced chips in the last few months — defying U.S. sanctions designed to slow down Beijing's progress. But last week, the Financial Times reported that SMIC is setting up new production lines to make 5 nanometer chips for Huawei. So when the Huawei Mate 60 came out last year with a 7 nanometer chip, that raised a lot of eyebrows. One expert told CNBC at the time that SMIC is likely using older chipmaking tools to make more advanced chips.
Persons: Lo, SMIC, Paul Triolo, Albright Stonebridge Organizations: HK, Reuters China's, Huawei, Semiconductor Manufacturing, Co, Financial Times, China's, CNBC Locations: U.S
Tech layoffs have swept the nation since the start of 2024, with over 34,000 workers laid off. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Well, that's because they are — and they're showing no sign of stopping, according to a Jefferies analyst. Google CEO Sundar Pichai already warned staff that more layoffs are coming in a staff email last month, after several hundred layoffs so far this year.
Persons: Jeffries, , It's, Brent Thill, Sundar Pichai Organizations: Companies, Service, Jefferies
Named, JS Raigei (“Thunder Whale” in Japanese), the diesel-electric attack sub is the fourth boat of the Taigei-class , which translates to “big whale.”Its launch comes almost exactly one year after the launch of the third Taigei-class sub, JS Jingei (or “Swift Whale”). With a building time of about two years each, Japan has launched a new Taigei-class sub every year since 2020. China’s current sub fleet, numbering some 59 boats, includes approximately 10 improved Kilo-class , 12 Type 039-class , and 21 Type 039A-class diesel-electric attack subs. Japan is building a larger submarine fleet but it is still only about a third the size of China's. AdvertisementJapan has so far launched four Taigei-class submarines since 2018; JS Taigei, JS Hakugei, JS Jingei, and JS Raigei.
Persons: , JS, Japan’s, , Li Organizations: Service, Kawasaki Heavy Industries, JS Raigei, Jingei, Self, Defense Force, AIP, JS Ōryū, JS Tōryū, JS Taigei, US Navy, Center for Strategic, International Studies, JS Hakugei, JS Jingei Locations: Japan, Kobe, Soviet Union, Russia, China, Beijing, Taiwan, East, South China, Miyako Strait, Philippines, Australia, South
The most expensive home for sale in the U.S. hit the market this week for $295 million. Gordon Pointe, as it's called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal. The mega-listing includes a main house that spans about 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bring the estate's total interior living space to 22,800 square feet. The residence sits high atop 217 West 57th Street, overlooking Central Park, spanning three floors and over 17,500 square feet.
Persons: Gordon Pointe, Leighton Candler, Corcoran, Candler, Gordon, John, Rhodora Donahue, John Donahue, Hermes, Dawn McKenna, McKenna, she's, It's, Cody Boone, Ryan Serhant, Serhant, naysayers, Donna Olshan, Karen Winnick, Gary Winnick, Kurt Rappaport, that's, Jonathan Miller, Miller Samuel, Jeff Bezos, Clodagh Kilcoyne, Ken Griffin, Larry Ellison, Marc Andreessen, Jim Bartsch, Jerry Perenchio, Miller, Lachlan Murdoch, Rupert Murdoch Organizations: Royal, CNBC, U.S . Army Corps of Engineers, Dawn McKenna Group, Coldwell, Coldwell Banker Realty, St, SERHANT Studios, Encantada, U.S, Washington , D.C, Reuters, Amazon, Oracle, Bel Air, Fox Corp Locations: Gordon Pointe, U.S, Naples , Florida, Gulf, New York, of Mexico, Pittsburgh, Port Royal, America, New York City, Central, Manhattan, Los Angeles, Bel, Washington ,
CNBC Pro combed through Bank of America research to find attractive stocks heading into earnings. Global Payments Analyst Jason Kupferberg is doubling down on shares of the payment processing company heading into earnings on Feb. 14 . "If executed well, we still think integrations between ESPN's media app and ESPN Bet could drive sustainable high-single-digit market share," he said. "We are Buy rated on PENN given stable regional gaming trends and upside opportunity from ESPN Bet," Kelley wrote. … While disappointing at face, turnarounds are never a straight line and we think investor expectations for PENN & ESPN Bet remain low.
Persons: it's, there's, Jason Kupferberg, Kupferberg, GPN, Tal Liani, Liani, Shaun Kelley, that's, Kelley, Penn Organizations: Nvidia, Bank of America, CNBC, Arista Networks, Penn Entertainment, Global, Arista, Microsoft, TAM, Penn, ESPN, ESPN Bet, PENN, SG, Enterprise, SAP, VMWare, Dell, Penn Ent, Interactive, Locations: Bank, CY25, 2H24
Sam Altman is aiming to raise as much as $7 trillion to significantly increase the world's supply of semiconductor chips, The Wall Street Journal reported. The OpenAI chief has been talking to prospective investors including the United Arab Emirates government about his proposals to help solve the global chip shortage. One potential backer Altman's been courting is the UAE's Sheikh Tahnoun bin Zayed al Nahyan, with the pair meeting recently, the Journal reported, citing unnamed sources. Altman is said to be presenting his idea as a partnership with OpenAI, chip makers, and investors who can finance GPU chip plants. The facilities will then be run by established chip makers, the report says.
Persons: Sam Altman, Altman's, Tahnoun bin Zayed al Nahyan, Altman, CEO's, openai, OpenAI didn't Organizations: Street Journal, United Arab Emirates, OpenAI, Nvidia, Financial Times, Google, Business Locations: Silicon
CNN —Ben Affleck knows what everyone’s been saying about his many sad faces. At the start of the commercial, Affleck is watching footage of himself sitting with wife Jennifer Lopez at the event, with the headline, “Boredest Man in the World.”“Keep laughing,” Affleck says, holding a Dunkin’ coffee. I had this crazy dream, you’re going to laugh,” he says. “Who is TikTok?” Affleck asks. He then tries to pump himself up with some self-talk, saying, “They tell you you’re no good.
Persons: CNN — Ben Affleck, everyone’s, Affleck, Jennifer Lopez, , ” Affleck, Lopez, “ What’s, , , ” Dunkin, Ben Affleck, Charli, Charli D’Amelio Organizations: CNN Locations: Boston
(And in other places, like North America, the MG brand is known for tiny vintage sports cars and little else.) The 2024 MG MG4 XPower. Alex GoyMG decided to send me the MG4 XPower, the fastest one you can get, as I am a hooligan. The interior of the MG MG4 XPower. Driving the MG MG4 XPower on the road.
Persons: It's, MG4 XPower, Alex Goy MG, you'd, there's, XPower, Alex Goy, Apple CarPlay, Uber, MG's, it's Organizations: Service, SAIC, TF, Business, MG4, Audi, EV, MG Locations: North America, United Kingdom, it's, Europe, It's, America, London
Heating systems are breaking down in Russia's harsh winter, leaving many people freezing. Much of Russia's Soviet-era infrastructure needs modernizing. AdvertisementHeating systems are breaking down in Russia's harsh winter, leaving many people freezing as Moscow continues to spend on its war in Ukraine. The brutal conditions are made worse because Russia's infrastructure is poorly maintained, with many of its facilitates dating from the Soviet era, according to media reports. About 40% of the communal heating grid in the country needs to be replaced urgently, she added.
Persons: , Svetlana Razvorotneva, Vladimir Putin, Denis Volkov, Organizations: Service, Financial Times, Reuters, , Levada Center Locations: Russia, Moscow, Ukraine, Siberia, Soviet, St . Petersburg, The, Russian, Nizhny Novgorod
The rental car giant is pausing plans to buy 65,000 electric cars from EV pioneer Polestar, according to comments made by Polestar CEO Thomas Ingenlath in an interview with The Financial Times . Hertz's estimated $3 billion agreement with up-and-coming EV maker Polestar in 2022 was seen as a major moment for electric vehicle adoption. AdvertisementIt came after Hertz struck a similar deal with Tesla and agreed to buy 100,000 of its EVs in 2021. However, since then the global EV market has stalled , with demand for electric cars slumping and major automakers rolling back some of their investments . AdvertisementThe company said in January it plans to sell 20,000 EVs from its fleet , including Teslas, Chevrolet Bolts, and Volvos.
Persons: Hertz, Thomas Ingenlath, Tesla, Elon, Ingenlath, Stephen Scherr, Polestar, Mary Barra Organizations: Financial Times, Polestar, Hertz, Teslas, Chevrolet Bolts, Volvo, Swedish, General Motors, Business
The boss of Emirates criticized Boeing and called on its leaders to prioritize quality manufacturing over finances, in an interview with the Financial Times published Sunday. Last November, Emirates placed a huge $52 billion order for 95 Boeing 777 and 787 jets. The 737 Max 9, delivered 66 days earlier, lost a door plug in midair. AdvertisementThe Wall Street Journal reported that the plane left Boeing's factory missing key bolts designed to keep the door plug in place. And on Sunday night, several outlets reported that holes were misdrilled in 50 Boeing 737 Max fuselages, delaying deliveries.
Persons: Sir Tim Clark, Max, Max fuselages, Clark, Dave Calhoun, they've Organizations: Emirates, Boeing, Financial, Alaska Airlines, Street Journal Locations: Dubai, Emirates
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussia's frozen assets could finally have a role in funding Ukraine, used as collateral in a new debt scheme under Western consideration, sources told the Financial Times. "Of course, the Russian Federation will challenge such decisions, we will protect our interests and our assets illegally seized," spokesman Dmitry Peskov said. Meanwhile, US brinkmanship is keeping Washington sidelined, with further Ukraine funding unlikely ahead of the electionSome, such as former Treasury Secretary Larry Summers, have called to transfer Russia's reserves directly to Ukraine. The German government has instead supported seizing the returns generated by the assets, but leave the underlying reserves untouched.
Persons: , Dmitry Peskov, it's, Larry Summers Organizations: Service, Financial Times, Business, Russian Federation, Western, European Union, EU Locations: Ukraine, Moscow, Russia, Russian, Belgian, Washington
Grammy Awards winners list (updating live)
  + stars: | 2024-02-04 | by ( Lisa Respers France | ) edition.cnn.com   time to read: +5 min
CNN —Winners of the 66th Grammy Awards, the music industry’s top prize, are being presented on Sunday. The ceremony is taking place in rainy Los Angeles, where Trevor Noah is hosting the event for a fourth time. The nominees in several top fields can be found below. Winners are indicated in bold and are being updated live throughout the show. The full list of winners in all 94 Grammy categories can be found here.
Persons: Trevor Noah, SZA, Phoebe Bridgers, Billie Eilish, Barbie ”, “ Oppenheimer ”, Taylor Swift, , ” She’s, , Janelle Monáe, Jon Batiste, Lana Del Rey, Miley Cyrus, Olivia Rodrigo, Eilish, Bill ” Taylor Swift, Victoria, Coco Jones Gracie Abrams Fred, Noah Kahan Victoria Monét, Kelly Clarkson, Ed Sheeran, ” Taylor Swift, Brandi Carlile, Miles ” SZA, Karma, Jack Antonoff Dernst, ” Emile II, Daniel Nigro, Edgar Barrera Jessie Jo Dillon Shane McAnally Theron Thomas, Justin Tranter, Mike, “ Michael ”, ” Nas, Travis Scott, Kendrick Lamar, ” Drake, Rich, Osborne, “ Brothers Osborne ” Kelsea, ” Lainey Wilson, Tyler Childers, “ Rustin ’, Zach Bryan, Zach Bryan ”, Brandy Clark, Chris Stapleton, Dolly Parton, Luke Combs, Greta Van, Coco Jones, Emily King, Walker, Chris Brown, Robert Glasper, Alex Isley, Bill ” Victoria, ” PJ Harvey, Amapiano ” Burns, David, Ayra Starr, ” Tyla, “ Barbie, ” Mark Ronson, Andrew Wyatt, ” Ludwig Göransson, ” John Williams, “ Indiana Jones, “ Oppenheimer Organizations: CNN, , Swift, Hit Boy Metro, Drake, Metro Boomin, “ Scientists, Engineers, Queens, Pumas, Foo, Boys Locations: Los Angeles, Dua Lipa
Ukraine: Europe is braced for a showdown on funding
  + stars: | 2024-01-31 | by ( Luke Mcgee | ) edition.cnn.com   time to read: +7 min
Hungarian Prime Minister Viktor Orban says he doesn’t oppose European funding for Ukraine, but is insisting that the money should not come out of the EU’s budget. It is widely suspected that Orban is using his veto on the funds for Ukraine to force Brussels into unlocking the money for Hungary. Beyond Europe, there are also major concerns about what a second Donald Trump presidency would mean for Ukraine and European security as a whole. As the Ukraine crisis approaches the two-year mark it is becoming increasingly difficult for Europe to manage. On the other, the consequences of Ukraine losing the war could be unconscionable for the rest of Europe.
Persons: Viktor Orban, Orban, Critics, Balázs, , Jens Stoltenberg, Francois Mori, Vladimir Putin, Donald Trump, Trump, Putin Organizations: CNN —, European Union, Kyiv, EU, CNN, Financial Times, Ukraine, , NATO, Getty, Hungarian, European Council, Foreign Affairs Locations: Brussels, Ukraine, Hungary, Russian, United States, Washington, Hungarian, “ Brussels, there’s, Budapest, Kyiv, AFP, Russia, Israel, EU, Europe
Read previewConsulting giant EY is keeping track of how often staff attend its offices through turnstile access data as some teams disregard its return to office policies in the UK, the Financial Times reported first. This story is available exclusively to Business Insider subscribers. One person told the FT that some partners are being shown data that connects office attendance to mid-year performance ratings. Similarly, JPMorgan required employees to return to its office three to five days a week, depending on seniority. EY declined to comment when contacted by Business Insider.
Persons: , Kevin Ellis, PWC, EY Organizations: Service, Financial Times, Business, Partners, Citigroup, JPMorgan, Economic
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