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☆ A US warship's Red Sea battle with the Houthis years ago helped the Navy ready for round two, its captain says
▼ + stars: | 2024-07-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Unlike some other ships, the Arleigh Burke-class destroyer battled the Houthis years before they started targeting merchant shipping lanes in what has become a monthslong campaign. The Mason's commanding officer says that earlier fight helped the Navy prepare for its latest clash with the Iran-backed rebels. AdvertisementDuring its exhausting deployment, the Mason intercepted a number of Houthi drones and missiles — including some fired at the destroyer. Though long in various arsenals, these weapons had never seen combat until the Houthis launched them in late 2023.

Persons: —, Mason, Arleigh Burke, Cmdr, Justin Smith, Dwight D, Blake Midnight, Smith, USS Mason, Steve Helber Smith, Marc Miguez, we'll Organizations: Service, US Navy, Houthi, Business, Eisenhower Carrier Strike, Navy, AP, Eisenhower Locations: Iran, Florida, Gulf, Aden, Mandeb, Norfolk , VA

☆ Amazon sellers lose coveted buy box ahead of Prime Day after Target discount snafu
▼ + stars: | 2024-07-13 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +7 min

Even though Fishman is the owner of the VitaCup brand, he said he lost the buy box to a reseller of his coffee products. That meant it was indexed by Amazon's pricing algorithms, Fishman said, causing him to lose the buy box. Angus Mordant | Bloomberg | Getty ImagesWinning the buy box is paramount to a seller's success on Amazon. Nearly 98% of sales made on Amazon go through the buy box button, the FTC alleged in its suit. "The only way to get back the Amazon buy box is to lower our price on Amazon," Arnold said.

Persons: Tom Williams, Brandon Fishman, Fishman, I've, David Zapolsky, Amazon's, Target, Angus Mordant, Mason Arnold's, Arnold, Sunwink, we're Organizations: Washington , D.C, Cq, Inc, Target, Amazon, Walmart, Federal Trade Commission, JPMorgan, Bloomberg, Getty, FTC Locations: Washington ,, Harriman , New York

☆ Citigroup CFO on the bank's transformation and beating Q2 expectations
▼ + stars: | 2024-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCitigroup CFO on the bank's transformation and beating Q2 expectationsMark Mason, Citigroup CFO, joins CNBC's Leslie Picker on 'The Exchange' to discuss Citi's business transformation, addressing regulator concerns, and more.

Persons: Mark Mason, Leslie Picker Organizations: Citigroup

☆ Scientists unveil prototype spacesuit system that recycles urine as drinking water
▼ + stars: | 2024-07-12 | by ( Amarachi Orie | ) edition.cnn.com time to read: +7 min

Now, such technology appears to be on the horizon, with scientists unveiling a prototype spacesuit system that turns urine into drinking water. When spending these long periods on spacewalks, astronauts currently wear the familiar white puffy EVA suits, which contain a maximum absorbency garment. Above is a side view of the whole system, worn as a backpack. ‘Dune’ systemTo “promote astronaut wellbeing,” the researchers have designed a novel in-suit urine collection and filtration system, or “Dune” system,” Etlin said. Luca BielskiThe liquid would then enter the filtration system, a two-step apparatus that removes water from urine into a salt solution, with a pump then separating pure water from salt.

Persons: “, Sofia Etlin, Weill Cornell Medical College’s, Karen Morales, ” Etlin, Luca Bielski, Spacesuits, Etlin, Artemis, ” Organizations: CNN, Cornell University, Space Technology, NASA, Collins Aerospace, Weill Cornell Medical, Astronauts Locations: New York, Houston, Mars

☆ Wall Street banks see investment banking improvement, with some caution
▼ + stars: | 2024-07-12 | by ( ) www.reuters.com time to read: +3 min

The results by three major U.S. banks kicked off the second-quarter earnings season. Maximize Item 1 of 2 Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files. REUTERS/File Photo [1/2] Signs of JP Morgan Chase Bank, Citibank and Wells Fargo & Co. bank are seen in this combination photo from Reuters files. Wells Fargo CFO Mike Santomassimo said on a call that the bank has seen good activity across the investment grade desk, capital markets and the leverage finance business. Goldman's earnings are expected to more than double versus the second quarter of 2023, when they dropped to a three-year low.

Persons: Wells, Goldman Sachs, Morgan Stanley, Mark Mason, Mason, JP Morgan, Jeremy Barnum, Mike Santomassimo, Moody's, Goldman, Noor Zainab Hussain, Manya Saini, Niket, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Megan Davies, Matthew Lewis Organizations: Citigroup, JPMorgan, Citi, Equity, JP Morgan Chase Bank, Citibank, Wells Fargo & Co, Chevron Chevron, Morgan, Thomson Locations: Chevron Chevron The U.S, U.S, Bengaluru, New York

☆ Citi CEO Jane Fraser pledges to fix tech mess and appease regulators. Here's what she told analysts.
▼ + stars: | 2024-07-12 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDespite topping Wall Street's expectations, Citi CEO Jane Fraser kicked off Friday's quarterly earnings call by addressing the bank's failing attempts to fix regulatory issues. Two days prior, the bank was fined $135.6 million for not fixing its data quality management quickly enough. To address this, Citi plans to increase its annual spend on Transformation by about $250 million to $3.15 billion, according to chief financial officer Mark Mason. Citi is prioritizing data fixes that relate to 15 to 30 reports required by US regulators, he added.

Persons: —, Jane Fraser, Fraser, We've, Mark Mason, Mason, we've Organizations: Service, Citi, Business, Federal Reserve Board, Currency, OCC

☆ Tampons contain lead, arsenic and potentially toxic chemicals, studies say. Here’s what to know
▼ + stars: | 2024-07-11 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

CNN —The average menstruating person will spend about five years of their total reproductive lifespan using an estimated 11,000 tampons, sanitary pads, panty liners and other menstrual products, experts say. What if some of those menstrual aids contain heavy metals or potentially toxic chemicals linked to chronic diseases and reproductive and developmental problems? “I do not want people to panic, but to be aware that heavy metals have been found in these menstrual products,” Schilling said. “However, there is no reason for people to be afraid to use menstrual products at this time,” she added. The team ran tests for 16 heavy metals: arsenic, barium, calcium, cadmium, cobalt, chromium, copper, iron, manganese, mercury, nickel, lead, selenium, strontium, vanadium and zinc.

Persons: Kathrin Schilling, ” Schilling, Amanda Hils, ” Hils, Anna Pollack, ”, Pollack, “, tampons Schilling, nonorganic tampons, hasn’t, Nancy King Reame, Reame Organizations: CNN, US Environmental Protection Agency, Columbia University’s Mailman, of Public Health, US Food and Drug Administration, George Mason University, US Geological Survey . Chemicals, Environmental Health, Institute for Green Science, Carnegie Mellon University, American Chemistry Council, “, for Disease Control, Prevention, FDA, School of Nursing, Columbia University Medical Center Locations: New York City, “, Fairfax , Virginia, United States, United Kingdom, Greece, tampons, Pittsburgh

☆ Mason Greenwood: Marseille mayor and fans rally against ‘unspeakable’ transfer, citing dropped domestic violence charges
▼ + stars: | 2024-07-10 | by ( Amy Woodyatt | Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —The Mayor of Marseille has urged his city’s main soccer club, Olympique de Marseille, not to sign former Manchester United striker Mason Greenwood, citing the dropped domestic violence and sexual assault charges against him. “The values of Marseille and the values of Olympique de Marseille are anything but that… It’s anything but… can you imagine, violence against women,” Payan said. And he wants to play for Olympique de Marseille, Greenwood? CNN has reached out to Olympique de Marseille and Greenwood, via Manchester United, for comment. Following the charges against Greenwood, Manchester United opened an investigation of their own, eventually making the decision to move Greenwood on citing “difficulties with him recommencing his career” at the club.

Persons: Mason Greenwood, Benoît Payan, …, ”, ” Payan, It’s, Greenwood, Alain Robert, SIPA, ” Greenwood hadn’t, Greenwood’s, – Organizations: CNN, Olympique de Marseille, Manchester United, Prosecution Service, CPS, Marseille, Greenwood, Red Devils, Spanish, Getafe, OM Locations: Marseille, Greenwood, Manchester

☆ Reliability of U.S. Economic Data Is in Jeopardy, Study Finds
▼ + stars: | 2024-07-09 | by ( Ben Casselman | ) www.nytimes.com time to read: +1 min

Federal Reserve officials use government data to help determine when to raise or lower interest rates. Congress and the White House use it to decide when to extend jobless benefits or send out stimulus payments. But a new study says the integrity of that data is in increasing jeopardy. But that could soon change, the study warns, citing factors including shrinking budgets, falling survey response rates and the potential for political interference. “We’re not there yet, but if we don’t do something, that threat could become a reality, and in the not-too-distant future.”

Persons: —, ”, Nancy Potok, “ We’re Organizations: Federal, American Statistical Association, George Mason University, Urban Institute Locations: United States

☆ Olympic diver Tom Daley uses a simple nutrition rule called '20-20-20' to stay energized
▼ + stars: | 2024-07-08 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +6 min

The British diver Tom Daley is preparing to compete at his fifth Olympics. Daley described the "20-20-20" post-workout nutrition rule he follows to support his training. With four Olympics and a gold medal under his belt, Tom Daley was set on retiring. "It's the best way of being able to restore you and get you ready to recover for the next training session," Daley said. "I'm a dad, I'm a husband, I'm a son, a brother, a friend.

Persons: Tom Daley, Daley, —, Daley —, Dietitians, he's, Dustin Lance Black —, Daley juggles, there's, I'm, Mykenna Maniece Organizations: Olympic, Service, —, Olympics, BI, Nutrition, Paris Games Locations: Paris, British, Tokyo

☆ Abolish HOAs: Homeowner Associations Make It Harder to Own a House
▼ + stars: | 2024-07-08 | by ( Ned Resnikoff | ) www.businessinsider.com time to read: +10 min

These private quasi-governments are called homeowner associations, or HOAs. While California has the most HOAs of any state (50,000), Florida has far more HOA residents as a percentage of its population. The association also provided its residents with "the usual privileges of a citizen in any free state," Tullock wrote. Readers will not be shocked to learn that Clarke and Freedman also found that HOA residents were more likely to be white or Asian than non-HOA residents. (Cashin observed that several states, including New Jersey and Texas, had laws allowing HOA residents to subtract the cost of privately provided infrastructure from their taxes.)

Persons: Norman Rockwell, Ron DeSantis, HOA, Quinn Slobodian, HOAs —, Gordon Tullock, Tullock, it's, Jim Crow, Wyatt Clarke, Matthew Freedman, Clarke, Freedman, Robert Reich, Sheryll Cashin, Cashin, HOAs Organizations: Gov, Guardian, HOAs, George Mason University, HOA Locations: An, HOA, Florida, While California, Rossmoor , California, America, Pima County, New Jersey, Texas, That's

☆ Spain 2 Germany 1: Mikel Merino’s late, late winner dumps out Euro 2024 hosts
▼ + stars: | 2024-07-05 | by ( Dermot Corrigan | ) www.nytimes.com time to read: +18 min

Spain thought they had beaten Germany after Dani Olmo’s 51st-minute finish to a fine team move. Having beaten the hosts in dramatic fashion, some will now consider Spain the favourites to win Euro 2024. Spain had never previously beaten a host nation in a knockout tie at either a World Cup or European Championship. What Germany had to remember was that De la Fuente’s Spain are far more versatile in the way they play. His final game in professional football was mixed.

Persons: Dani Olmo’s, Julian Nagelsmann’s, Florian Wirtz, Manuel Neuer, Mikel Merino, Dermot Corrigan, James McNicholas, Mark Carey, Sebastian Stafford, Bloor, They’d, Merino, tonight’s, Maximilian Mittelstadt, Toni Kroos, Carl Recine, Tom, Marc Cucurella, Kroos, Pedri, Lamine Yamal, …, Martin Rickett, Yamal Pedri, Luis de la Fuente, Anthony Taylor’s, Taylor, Antonio Rudiger, Robin Le Normand, Germany’s Emre, Rodri, Jamal Musiala, Le Normand, Dani Carvajal, Carvajal, Rudiger, Robert Andrich, Alvaro Morata, Unai Simon, Ilkay, Fabian Ruiz, Simon, Nico Williams —, Aymeric Laporte, Jonathan Tah, —, Olmo, Dani Olmo 🇪🇸 h, Bo, ove, Ger, abi l, hal f, sid, bac, dou, tod, tim e, Rea, bui, hal, ed pre, bea Organizations: European, Croatia, Georgia, Olmo, France, Barcelona, UEFA, Manchester City, la, Germany, Sunday, pla, DFB, cri, usu, Spa Locations: Spain, Germany, Stuttgart, tonight’s Portugal, Berlin, Bloor, Real Madrid, Yamal, It’s, Spain’s, goa, abo, Wil

☆ France scores late winner against Belgium in gritty victory to reach Euro 2024 quarterfinals
▼ + stars: | 2024-07-01 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —France scored a late winner to book its spot in the Euro 2024 quarterfinals thanks to a hard-fought 1-0 victory against Belgium on Monday. Franck Fife/AFP/Getty ImagesA tight affairFrance started more confidently in Düsseldorf, dominating possession early on, though Les Bleus was unable to meaningfully trouble Koen Casteels in the Belgium goal. Eventually Domenico Tedesco’s Belgium team was able to get a foothold in the game, with captain Kevin De Bruyne’s freekick almost sneaking in. France players celebrate with their fans after scoring the only goal of the game to beat Belgium and advance to the quarterfinals of Euro 2024. Nothing but respect for how that Slovakia team played tonight.”This story has been updated with additional information.

Persons: Randal Kolo, Jan Vertonghen, Kylian Mbappé –, Vertonghen, Kolo Muani’s, Kolo Muani's, Franck Fife, Les Bleus, Koen Casteels, Domenico Tedesco’s, Kevin De Bruyne’s, Marcus Thuram, Jules Koundé, Aurélien, Kenzo Tribouillard, Tchouaméni, Casteels, Thuram, Didier Deschamps’s, Belgium’s Yannick Carrasco, Mike Maignan, Theo Hernández, Romelu Lukaku, Maignan, Clive Mason, Jude Bellingham Organizations: CNN — France, Belgium, France’s, Getty, France, UEFA, Slovakia, Sunday, European, Slovakian Locations: Belgium, France, Portugal, Slovenia, Frankfurt, Vertonghen, AFP, Düsseldorf, Domenico Tedesco’s Belgium, England, Bellingham

☆ A Storied Harlem Church Has a New Leader. Its Members Have Questions.
▼ + stars: | 2024-06-28 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

When the Rev. Calvin O. Butts III, who presided over the church for three decades, died two years ago at the age of 73, his legacy was felt both at the level of spiritual inspiration and material advantage. As chairman of the Abyssinian Development Corporation, he delivered roughly $1 billion to residential and commercial projects in Harlem, brought a new high school to the neighborhood and worked to blunt the sharpest edges of gentrification. As former Mayor Michael Bloomberg put it when the pastor died, “Reverend Butts took the idea of building the kingdom of God literally.”Perhaps because of this outsize imprint, the process of naming his successor has been divisive, raising questions among some congregants around transparency and bias and whether the church, with a few thousand members, can sustain its prominence, or even stability. Over the past two years, the search for a new leader has been consuming.

Persons: Adam Clayton Powell Jr, ’, Calvin O, Butts III, Michael Bloomberg, “, Butts, Kevin R, Johnson, C, Vernon Mason, ” Organizations: Abyssinian, Abyssinian Development Corporation, Inc, Baptist Locations: New York, Harlem, Philadelphia

☆ How many alarms should you set in the morning?
▼ + stars: | 2024-06-28 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +6 min

If you are clogging your clock app with all those morning alarms, you’re setting yourself up for a groggy morning, experts say. He recommends setting one alarm, allowing for deep sleep to continue uninterrupted until you need to wake up in the morning. Most of the time, however, someone who needs multiple alarms to wake up in the morning is sleep deprived, she said. Goldstein recommends students use summer break to find how many hours of sleep they get naturally after a few weeks. Instead, Peters recommends trying to fall back asleep until it feels as though 15 to 20 minutes have passed.

Persons: CNN —, Brandon Peters, “, ” Peters, Cathy Goldstein, Goldstein, ”, Alicia Roth, a.m, Roth, Peters, ” Goldstein, you’re Organizations: CNN, Virginia Mason Franciscan Health, Disorders, University of Michigan Medical School Locations: Virginia, Seattle, Michigan, Ohio, ”

☆ Biden wants to paint Trump as a threat to democracy. But new swing-state polling shows voters think otherwise.
▼ + stars: | 2024-06-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewPresident Joe Biden has staked a major tenet of his reelection campaign on painting former President Donald Trump as one of the biggest political threats to democracy in the US. "We're often not faced with questions of whether the vote we cast will preserve democracy," he said at the time. In a survey conducted by The Washington Post and the Schar School of Policy and Government at George Mason University among registered voters from mid-April to late May, Trump led Biden 44 percent to 33 percent on the democracy issue.

Persons: —, Joe Biden, Donald Trump, Biden, Trump, — Trump Organizations: Service, GOP, Business, Senate, The Washington Post, Schar School of Policy, Government, George Mason University, Biden, White, Trump, Capitol, Republicans

☆ Ukraine exits Euro 2024 after goalless draw with Belgium as all four teams in Group E finish with four points
▼ + stars: | 2024-06-26 | by ( Matias Grez | ) edition.cnn.com time to read: +4 min

CNN —Belgium narrowly made it through to the knockout stages of Euro 2024 after a 0-0 draw with Ukraine, qualifying second behind Romania in a tight Group E that finished with all four teams on four points. It was a heartbreaking end to the tournament for Ukraine, which exits Euro 2024 after finishing bottom of the group, despite picking up more points than some of the teams that qualified third from other groups. Romanian midfielder Razvan Marin (L) celebrates scoring his team's first goal from the penalty spot during the Euro 2024 Group E football match against Slovakia at the Frankfurt Arena in Frankfurt am Main on June 26, 2024. Kevin De Bruyne of Belgium crosses the ball during the UEFA EURO 2024 group stage match against Ukraine at Stuttgart Arena on June 26, 2024 in Stuttgart, Germany. It was a cruel way for its Euro 2024 adventure to come to an end, making history but for all the wrong reasons.

Persons: Domenico Tedesco’s, Kevin De Bruyne, Trubin, Razvan Marin, Angelos Tzortzinis, Serhiy Rebrov, Oleksandr Zinchenko, Andriy Yarmolenko, Mykhailo Mudryk, Roman Yaremchuk, Koen Casteels, Artem Dobvik, De Bruyne, Lukaku, Clive Mason, Yannick Carrasco, Ruslan Malinovskyi, Casteels, Georgiy Sudakov Organizations: CNN —, Ukraine, Romania, Devils, France, Red Devils, Slovakia, Frankfurt, Getty, Chelsea, UEFA, Stuttgart Arena Locations: CNN — Belgium, Slovakia, France, Belgium, Ukraine, Frankfurt, AFP, Stuttgart, Germany, Romania, Trubin

☆ Who Was Harriet Tubman? A Historian Sifts the Clues.
▼ + stars: | 2024-06-26 | by ( Jennifer Szalai | ) www.nytimes.com time to read: +2 min

“Where others saw shut doors and unscalable brick walls, she dreamed into being tunnels and ladders,” the historian Tiya Miles writes in “Night Flyer,” a short biography of Tubman that is the first in a new series, called Significations and edited by Henry Louis Gates Jr., about notable Black figures. For decades after her death in 1913, Tubman’s extraordinary life was mostly relegated to books for children and young adults. Thorough, probing biographies by the historians Catherine Clinton and Kate Clifford Larson were published two decades ago. More recently, Tubman was the subject of a Hollywood biopic and “She Came to Slay,” an illustrated volume by the historian Erica Armstrong Dunbar, featuring a drawing of a pistol-toting Tubman on the cover. Perhaps inevitably, all the pop-cultural attention has been double-edged, commemorating Tubman’s formidable accomplishments while also making it harder to discern who she actually was.

Persons: Harriet Tubman, Tiya Miles Harriet Tubman, —, Tubman, Mason, Dixon, Tubman’s, Tiya Miles, Henry Louis Gates Jr, Catherine Clinton, Kate Clifford Larson, Erica Armstrong Dunbar, toting Tubman, Miles, Tubman “, “ resizes Tubman Organizations: Underground Railroad Locations: Canada, Chesapeake, Maryland, Pennsylvania

☆ The US Navy's turning to its third carrier strike group as its warships react to Middle East conflicts with no end in sight
▼ + stars: | 2024-06-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

The USS Theodore Roosevelt Carrier Strike Group is currently in South Korea, but it will soon depart for the US Central Command area of responsibility. US Navy photo via APA carrier strike group is a naval formation that includes a carrier, its air wing, and several other warships such as cruisers and destroyers. Eisenhower strike groupThe Dwight D. Eisenhower Carrier Strike Group first deployed to the Eastern Mediterranean in October, bringing in more firepower alongside the Ford. Roosevelt strike groupSlated to replace the Eisenhower is the USS Theodore Roosevelt Carrier Strike Group. As for the other crises, the incoming Roosevelt carrier strike group has its work cut out for it.

Persons: —, Theodore Roosevelt Carrier, Gerald R, Ford refuels, Arleigh Burke, Thomas Hudner, Ramage, USS Carney, Roosevelt, Carney, Eisenhower, Dwight D, Ike, Theodore Roosevelt, Kyung, Maj, Pat Ryder, Ryder, Israel Organizations: Service, US Navy, Theodore Roosevelt Carrier Strike, US Central Command, CSG, Business, Pentagon, Ford Carrier Strike Group, AP, Ford, Ticonderoga, Eisenhower Carrier Strike Group, Eisenhower, British, European Command Locations: —, Gaza, South Korea, Gulf of Aden, Israel, Lebanon, Laramie, Normandy, Iran, Persian, Gulf, Aden, Yemen, Busan

☆ Betting scandal inside the UK's ruling Conservative Party mars election race
▼ + stars: | 2024-06-24 | by ( April Roach | ) www.cnbc.com time to read: +2 min

LONDON — Britain's ruling Conservative party has become embroiled in a scandal concerning allegations that senior officials used inside knowledge to win bets on the date of the general election. Nick Mason, chief data officer for the Conservative Party, is the latest Tory official to be probed by the Gambling Commission, according to a report in The Sunday Times. CNBC was unable to immediately confirm this and the Conservative Party has not yet responded to a request for comment. Conservative MP for Montgomeryshire Craig Williams, who is also a close aide to the prime minister, was the first to face questions regarding a bet on the election date. The Conservative Party's campaign director Tony Lee, and his wife, Laura Saunders — the party's candidate in Bristol North West — are also being looked into by the Gambling Commission.

Persons: Rishi Sunak, Sunak, Nick Mason, Sunday Times . Mason, Montgomeryshire Craig Williams, Williams, Tony Lee, Laura Saunders —, Lee, Saunders Organizations: Conservative, Conservative Party, Tory, Gambling, Sunday Times, British, CNBC, Montgomeryshire, Bristol North, Commission, Independent, Metropolitan Police, Professional, Independent Office, Police

☆ AI stock frenzy resembles dot-com bubble and may explode disastrously, experts warn
▼ + stars: | 2024-06-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Experts say the AI mania has shades of the dot-com and housing bubbles and could end painfully. AdvertisementExperts say the frenzy around AI stocks resembles the last two major market bubbles — and could end in disaster if investors get spooked. "This is the goofiest and likely most dangerous concentration of overvaluation I've seen in 34 years investing and throughout financial history," Bloomstran said. Some experts have compared Nvidia to Cisco, the network hardware company whose stock ballooned during the dot-com bubble before ultimately crashing. No one can predict if the AI craze will end with a devastating crash like the dot-com and housing bubbles, or usher in a new market regime led by Nvidia and its kin.

Persons: —, Nathan Burks, Adetokunbo Fadahunsi, Ann Marie Hibbert, Burks, Hibbert, Chris Bloomstran, Semper Augustus, I've, Bloomstran, John Chambers, Robert Galbraith, it's Organizations: Service, George Mason University, Big Tech, Nvidia, Microsoft, Cisco, REUTERS, Wall Street Journal Locations: West Virginia

☆ I run a 7-figure online business and half my sales come from TikTok. Here's how I'm preparing for the worst if the app gets banned.
▼ + stars: | 2024-06-19 | by ( Krista Krumina | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Mason Kuhr, a 25-year-old business owner living in the US, about the potential TikTok ban. I'm skeptical about a TikTok ban in the US. But if it were to happen, I estimate that my $3.8 million business would be cut by half. Last year, I made $3.8 million in sales, with a third from TikTokMy company's revenue is evenly split between TikTok Shop, Amazon, and Shopify store sales. If you're freaking out about the TikTok ban, I'd suggest you choose a back-up platform and start to make yourself familiar with its users.

Persons: —, Mason Kuhr, I've, I'd, TikTok, doesn't, They've, I'm Organizations: Service, Business, The Stampede Network, TikTok, Stampede, YouTube

☆ The Supreme Court’s approach on ‘history and tradition’ is irking Amy Coney Barrett
▼ + stars: | 2024-06-19 | by ( Devan Cole | John Fritze | ) edition.cnn.com time to read: +10 min

Though Justice Clarence Thomas’ decision in a major trademark case last week was unanimous, it prompted a sharp debate led by Justice Amy Coney Barrett over the use of history to decide the case. “There definitely is the potential formation here of an alternative or several alternative approaches to history that ultimately draw a majority,” Wolf said. “What we could be seeing is a more nuanced approach to using that history,” said Elizabeth Wydra, president of the progressive Constitutional Accountability Center. But in a striking concurrence that captured support from both liberal and conservative justices, Justice Elena Kagan asserted that the court’s historic analysis need not end with the late-18th century. Barrett’s concurrence said the dispute could have been dealt with based on the court’s past precedent with trademark law and stressed that just leaning on the nation’s trademark history wasn’t good enough.

Persons: Clarence Thomas ’, Amy Coney Barrett, Barrett, Thomas, “, ”, Tom Wolf, Brennan, ” Wolf, Trump, Thomas ’, Antonin Scalia, Elizabeth Wydra, ” Wydra, Ilya Somin, there’s, Bruen, Sonia Sotomayor, … Bruen, –, Elena Kagan, Kagan, Brett Kavanaugh, Sotomayor –, Wolf, Roe, Wade, Vidal, . Elster, Sotomayor, ” Thomas, Kavanaugh, John Roberts, Samuel Alito, Neil Gorsuch, Ketanji Brown Jackson, Barrett’s Organizations: Washington CNN, Brennan Center for Justice, New York, Trump, George Mason University, “, Inc, CNN, Consumer Financial Protection Bureau Locations: New, Bruen, United States

☆ McDonald's to end AI drive-through test with IBM
▼ + stars: | 2024-06-17 | by ( Kate Rogers | ) www.cnbc.com time to read: +4 min

The drive-through menu at a McDonald's restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. The fast-food giant will end a test run of its AI drive-through technology partnership with IBM in more than 100 restaurants. In a statement, McDonald's told CNBC it is not ruling out potential AI drive-through plans in the future, even though it ended the IBM partnership. In statement, IBM said it will work with McDonald's on "a variety of other projects" as the test ends. While McDonald's AI plans for the future are unclear, all eyes will be on Alphabet 's Google.

Persons: Mason Smoot, McDonald's, Sundar Pichai, Peter Saleh, Saleh Organizations: IBM, CNBC, McDonald's, Yum Brands, Mastercard, Google Locations: Buttonwillow, Kern County , California, Del Taco, Barcelona

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 21 senior execs have left since his arrival.
▼ + stars: | 2024-06-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But the leadership of its ailing wealth unit is continuing to undergo major changes under its new boss Andy Sieg. Citi's wealth unit has seen at least 21 senior executives exit since Merrill Lynch veteran Sieg joined in September. The latest is Julia Carreon, global head of wealth platform and experiences. Sieg also plans to expand Citi's already successful wealth business in Asia. Here is our running list of senior departures from Citi Wealth.

Persons: —, Andy Sieg, Merrill Lynch, Sieg, Julia Carreon, Naz Vahid, Carreon, David Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merrill, Don Plaus, Hale Behzadi, Dawn Nordberg, Morgan Stanley, Citi David, Francesco Bertoni, Alfonso Camacho Bustillo, Hoyt, Paul Hodes, Robert Hoffman, Keith Lee Hong, Li, Liu, Fernando Lopez Munoz, Alex Marshall, Eduardo Martinez Campos, Luigi Pigorini, Fernando Senso, Jeff Sutton, Naz, Vahid, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Service, Citi, Citi Wealth, Business, Bankers, Citi Global Wealth, North America, Francesco Bertoni EMEA, Hoyt Gier Global, South, Asia, Fernando Lopez Munoz Head, Tate, Eduardo Martinez Campos Head, Mark Mills Regional, Fernando Senso Castilla Global, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Paul Hodes Asia, South Asia, Keith Lee Hong Kong, Asia Pacific, Shyam Sambamurthy South Asia, Fernando Senso Castilla, America, West China, hcuccinello@businessinsider.com

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