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☆ UK AI Safety Summit: who will attend and what’s on the agenda?
▼ + stars: | 2023-10-31 | by ( Martin Coulter | ) www.reuters.com time to read: +4 min

LONDON, Oct 31 (Reuters) - Britain will host the world's first global artificial intelligence (AI) safety summit this week to examine the risks of the fast-growing technology and kickstart an international dialogue on regulation of it. The aim of the summit is to start a global conversation on the future regulation of AI. Currently there are no broad-based global regulations focusing on AI safety, although some governments have started drawing up their own rules. A recent Financial Times report said Sunak plans to launch a global advisory board for AI regulation, modeled on the Intergovernmental Panel on Climate Change (IPCC). When Sunak announced the summit in June, some questioned how well-equipped Britain was to lead a global initiative on AI regulation.

Persons: Olaf Scholz, Justin Trudeau –, Kamala Harris, Ursula von der Leyen, Wu Zhaohui, Antonio Guterres, James, Demis Hassabis, Sam Altman, OpenAI, Elon Musk, “, Stuart Russell, Geoffrey Hinton, Alan Turing, Rishi Sunak, Sunak, Joe Biden, –, Martin Coulter, Josephine Mason, Christina Fincher Organizations: Bletchley, WHO, Canadian, European, United Nations, Google, Microsoft, HK, Billionaire, Alan, Alan Turing Institute, Life, European Union, British, EU, UN, Thomson Locations: Britain, England, Beijing, British, Alibaba, United States, China, U.S

☆ Here are Tuesday's biggest analyst calls: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and more
▼ + stars: | 2023-10-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Baird downgrades ON Semiconductor to neutral from outperform Baird said it sees "pricing pressures" for the semiconductor maker. Morgan Stanley upgrades Chewy to overweight from equal weight Morgan Stanley said in its upgrade of the stock that share sell-off is overdone. " Morgan Stanley upgrades SoFi to equal weight from underweight Morgan Stanley said the risks to SoFi are more than priced in. Morgan Stanley initiates Celsius Holdings as equal weight Morgan Stanley said in its initiation of the stock that it sees a balanced risk/reward. Northcoast upgrades Boeing to buy from neutral Northcoast said in its upgrade of Boeing that it sees a "more promising long term earnings horizon."

Persons: Wells Fargo, Bernstein, Goldman Sachs, it's, Baird, Rowe Price, Tesla, Piper Sandler, Wells, Morgan Stanley, CHWY, Guggenheim, Tourmaline, AutoNation, Jefferies, underperform Jefferies, MoffettNathanson, D.A, Davidson, Northcoast, ABG, Wolfe, Phillips, PSX Organizations: Wells, MARA, Apple, Semiconductor, Citi, TROW, Deutsche Bank, Bank of America, of America, 4Q, Arista Networks, TAM, Lincoln Electric, Seaport, Guggenheim, JPMorgan, Susquehanna, WSM, D.A, Disney, Boeing, Boeing Company, Asbury Automotive Locations: Williams, Sonoma, CELH

☆ Ukrainian soldiers are burned out and worried they'll run out of troops as the war with Russia drags on
▼ + stars: | 2023-10-31 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

Ukrainian soldiers are burned out and worried they'll run out of troops in the war with Russia. "When will this fucking war end?" AdvertisementAdvertisementUkrainian soldiers are getting increasingly burned out and worried that they will run out of troops as the brutal war with Russia enters its 21st month. "I'm not scared of death," Anatoly, a 41-year-old infantryman in the 28th Separate Mechanized Brigade, told The Kyiv Independent. Indeed, Russia's war against Ukraine has taken a significant toll on both Russian and Ukrainian soldiers.

Persons: they'll, —, I'm, Anatoly Organizations: Kyiv, Service, Mechanized Brigade, Russia Locations: Russia, Bakhmut, Ukraine

☆ Israel's name is conspicuously absent from maps on the Chinese internet, report says
▼ + stars: | 2023-10-31 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +4 min

Israel's name is omitted on digital maps by Chinese tech companies, the Wall Street Journal reported. AdvertisementAdvertisementIsrael's name is conspicuously absent from maps on the Chinese internet, according to the Wall Street Journal. Internet users in China observed that Chinese tech companies Alibaba and Baidu removed the name Israel from their online maps despite still showing its internationally recognized borders, the report said. But in a statement to The Telegraph, Baidu spokesman Jing Meng denied deliberately omitting Israel from the platform's maps. "Users can find corresponding countries or areas on Baidu Maps by simply using the map's search function," he added.

Persons: —, Jing Meng, Wang Yi, Wang, Zhai Jun, Matthew Loh Organizations: Wall Street Journal, Baidu, Service, Wall Street, Alibaba, Associated Press, Palestinian, AP, Weibo, Palestine, Xinhua Locations: Israel, China, Cyprus, Jordan, Iraq, Beijing, Palestine, United States

☆ CIMB, J Trust among suitors for Indonesia's Bank Commonwealth -sources
▼ + stars: | 2023-10-31 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

REUTERS/Bazuki Muhammad/File Photo Acquire Licensing RightsSINGAPORE, Oct 31 (Reuters) - Malaysian bank CIMB (CIMB.KL) and Japanese finance company J Trust (8508.T) are among firms vying to buy Indonesia's PT Bank Commonwealth, a deal that could value the lender at $400-$500 million, two sources with knowledge of the matter said. Bank Commonwealth, which is 99% owned by Australia's biggest lender Commonwealth Bank of Australia (CBA) (CBA.AX), focuses on retail lending as well as corporate banking services for small and medium enterprises. 2 bank, and J Trust have expressed interest and are looking at submitting binding bids, the sources said. CIMB, J Trust, CBA and Morgan Stanley declined to comment. Bank Commonwealth did not respond to a Reuters request seeking comment.

Persons: Bazuki Muhammad, Morgan Stanley, Yantoultra Ngui, Anton Bridge, Kane Wu, Edwina Gibbs Organizations: CIMB, REUTERS, Rights, J Trust, Indonesia's PT Bank Commonwealth, Bank Commonwealth, Australia's, Commonwealth Bank of Australia, CBA, Bank International Indonesia, China's, China's Bank of, SS, Thomson Locations: Kuala Lumpur, Rights SINGAPORE, Malaysian, Indonesia, Southeast, Southeast Asia, China's Bank, China's Bank of Hangzhou, Hangzhou, Singapore, Tokyo

☆ New York Times tech workers to strike over return-to-office rules
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

The New York Times building is seen in Manhattan, New York, U.S., August 3, 2020. REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsOct 30 (Reuters) - Tech workers at the New York Times (NYT.N) plan to strike for half a day on Monday, accusing the publisher of attempting to unilaterally force them back to the office. ET and the nearly 700 workers will hold demonstrations on Zoom and outside the company's headquarters in Manhattan, where some will wear Halloween costumes, said the Times Tech Guild (TTG). The New York Times issued its return-to-office policy before the tech guild was recognized early last year, when workers voted 404-88 to join the NewsGuild of New York, making TTG the largest tech union in the U.S. with bargaining rights. Tech workers at the union have been in contract talks with the company for more than a year.

Persons: Shannon Stapleton, Kathy Zhang, Akash Sriram, Arun Koyyur Organizations: New York Times, REUTERS, Tech, Times Tech Guild, The New York Times, U.S . National Labor Relations Board, Bloomberg, Times, Thomson Locations: Manhattan , New York, U.S, Manhattan, New York, Bengaluru

[1/2] U.S. Attorney General Merrick Garland gives a brief statement at the Justice Department in Washington, U.S., August 11, 2023. That puts the Biden administration's second year of corporate enforcement on par with the second year of the Trump administration's - the fifth-lowest corporate prosecutions on record. The new safe harbor program also "directly undermines" the Biden Administration's anti-monopoly efforts, they said. The Justice Department and Federal Trade Commission have mounted an unprecedented number of legal challenges to mergers since Biden took office. A recently-departed DOJ official told Reuters in August that more big corporate settlements were coming.

Persons: General Merrick Garland, Bonnie Cash, Joe Biden, Merrick Garland, Lisa Monaco, Monaco, Elizabeth Warren, Biden, Chris Prentice, Rod Nickel Organizations: U.S, Justice Department, REUTERS, U.S . Justice Department, Public Citizen, Democratic, Department of Justice, Public, Biden, Trump, The Justice Department, Federal Trade Commission, DOJ, Reuters, Thomson Locations: Washington , U.S, Monaco

BEIRUT (AP) — A watchdog group advocating for press freedom said that the strikes that hit a group of journalists in southern Lebanon earlier this month, killing one, were targeted rather than accidental and that the journalists were clearly identified as press. The first strike killed Abdallah, and the second hit a vehicle belonging to an Al Jazeera team, injuring journalists standing next to it. Both came from the direction of the Israeli border, the report said, but it did not explicitly name Israel as being responsible. The Lebanese army accused Israel of attacking the group of journalists. When asked to comment on the RSF report, the military referred back to an Oct. 15 statement.

Persons: Reuters videographer Issam Abdallah, Al Jazeera, Abdallah, Jonathan Dagher, Issam Abdallah, ” Dagher, Carmen Joukhadar, ” Joukhadar, Israel, Heather Carpenter, ”, Julia Frankel, Josef Federman Organizations: Reuters, AFP, Al, Associated Press, Israeli Apache, AP, Hamas Locations: BEIRUT, Lebanon, Al, Lebanese, Al Jazeera, Israel, Israeli, Palestinian, Gaza, Jerusalem

☆ Dispossessed Kenyans demand compensation ahead of King Charles' visit
▼ + stars: | 2023-10-30 | by ( Aaron Ross | ) www.reuters.com time to read: +5 min

Before Elizabeth could make it to Lake Victoria, word came that her father, King George VI, had died. More than 70 years later, Elizabeth's son, King Charles, will visit Kenya this week on a state visit. Buckingham Palace has said Charles' visit, which begins on Tuesday, will acknowledge "painful aspects of the UK and Kenya's shared history". The colonial administration took hundreds of square kilometres of land that communities in western Kenya had lived on for generations and handed it to British settlers. The British government has not been receptive in the past to requests by the Kipsigis and Talai to discuss compensation.

Persons: Britain's King Charles ', Camilla's, King Charles, Princess Elizabeth, Kibore Cheruiyot Ngasura, Elizabeth, King George VI, Elizabeth's, Ngasura, Charles, Kenya's, Joel Kimetto, “, Talai, Aaron Ross, Michael Holden, Alison Williams Organizations: Reuters, Kenyan, British, Foreign, Commonwealth, Development Office, Thomson Locations: Britain's, Kenya, Tugunon, Kericho County, KERICHO, Lake Victoria, Gwassi, London, Buckingham, British, Kericho, Nairobi, Mombasa

☆ Israel stopped monitoring Hamas' radio comms a year ago because they thought it was a waste of time: New York Times
▼ + stars: | 2023-10-30 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

Israel stopped monitoring Hamas' radio communications last year, NYT reported. AdvertisementAdvertisementIsrael's signals intelligence agency stopped monitoring Hamas' radio communications last year because they believed it was a waste of time, according to a report from The New York Times. But that assessment might have been different had they continued monitoring Hamas' hand-held radio communications, the report said. Militants also kidnapped 239 people and took them across the border to Gaza, Israeli authorities have said. Israel has carried out a devastating counterassault in response to Hamas' attacks.

Persons: Israel, —, Shani Louk Organizations: Service, The New York Times, The Times, Hamas, Gaza Health Ministry, ABC News Locations: Israel, Gaza, Palestinian

☆ Scottish council buys 18th century bust for $6. Now it could sell for $3 million
▼ + stars: | 2023-10-30 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —An 18th century bust bought for £5 ($6) nearly 100 years ago by a Scottish town council could sell for more than £2.5 million ($3 million). The bust of landowner and lawmaker John Gordon was sculpted by noted French artist Edmé Bouchardon. Now, local politicians on Invergordon Town Council are weighing up whether to sell the item, described by Sotheby’s as “brilliant in execution,” according to a council report. Despite its illustrious creator, there are few details publicly available about where the bust has been since it was purchased by the council. I found the robes and there was this bust just propping the door open,” she said.

Persons: John Gordon, Edmé Bouchardon, Sotheby’s, Gordon, Invergordon, Bouchardon, Louis XV, Maxine Smith, “, ” Organizations: CNN, Invergordon, Concorde, Louvre Museum, Getty Center, Inverness Museum, Art Locations: Scottish, Edinburgh, Rome, Paris, Los Angeles, Scotland

☆ Educated Gen Zers in China are choosing not to work. It could be a problem for the US economy.
▼ + stars: | 2023-10-29 | by ( Ayelet Sheffey | Huileng Tan | ) www.businessinsider.com time to read: +8 min

Youth unemployment in China hit a record high of 21% in May. It's a problem not only for China's economy — it could hurt the US, as well. China's economy is on shaky ground as it emerges from very strict lockdown pandemic measures. That's compared to the US youth unemployment rate of 7.4% in May. "The stakes are high for correcting these imbalances, given how important the youth population is to China's economy," the note said.

Persons: There's, —, China —, it's, China's, China — Benn Steil, Steil, Victoria University of Wellington Christian Yao, Alfred Wu, National University of Singapore's Lee, Wu, Goldman Sachs, they're, it'll Organizations: Service, Trade, National Bureau of Statistics, Weibo, China, Council, Foreign Relations, Victoria University of Wellington, China Macroeconomy, New York Times, National University of Singapore's, National University of Singapore's Lee Kuan Yew, of Public, NBC News Locations: China, decouple, Japan, United States

☆ Kanye West drew a swastika at a Yeezy meeting with Adidas and told a Jewish manager to kiss a photo of Hitler, report says
▼ + stars: | 2023-10-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

More details of Kanye West's conduct during his partnership with Adidas were revealed by The New York Times. The rapper drew a swastika on a shoe design and told a Jewish employee to kiss a photo of Hitler, per the Times. In another detail of his troubling antisemitic behaviour, Ye told one Jewish manager at the company to kiss a picture of Hitler every day. The last Adidas Yeezy restock AdidasAdidas CEO Bjørn Gulden has defended Ye, saying that the rapper had been misunderstood. The company told the Times it had "no tolerance for hate speech and offensive behavior, which is why the company terminated the Adidas Yeezy partnership."

Persons: Kanye, Hitler, Ye, —, Adidas Yeezy, Bjørn Gulden Organizations: Adidas, The New York Times, Times, Service, New York Times, Adidas Adidas Locations: Germany

☆ Chinese consumer stocks that analysts like for their global potential
▼ + stars: | 2023-10-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"We expect Miniso to report another strong quarter in 1QFY24," Jefferies analysts wrote in an Oct. 24 report. Xiaomi shares are up more than 20% so far this year despite a more than 10% slump in the broader Hong Kong stock market. "We believe good shipment momentum and resilient margins could support a strong 3Q23," the Morgan Stanley report said. The analysts have an overweight rating on Xiaomi shares with a 15 Hong Kong dollar price target — up 11% from Friday's close. Shares of Transsion, not covered in the Morgan Stanley report, are up nearly 70% so far this year.

Persons: Miniso, Jefferies, Xiaomi, Morgan Stanley, Canalys, Morgan, Andre Chang, Chang, —, JD.com —, — CNBC's Michael Bloom Organizations: Hong Kong Locations: 1QFY24, China, New York, Hong Kong, Canalys, Friday's, Shanghai, Shenzhen, Africa, India, Morgan China

Political Cartoons View All 1223 ImagesNow the agency is aiming to further reduce lead levels in drinking water and tighten a rule that failed to prevent recent drinking water crises in cities like Flint, Michigan and Newark, New Jersey. Bernstein said he is hopeful “that as we remove lead pipes, we’re going to see the numbers continue to fall. “CDC’s work was used in other cities with elevated water lead levels to dampen citizen concerns,” the congressional report said. Joe Cotruvo, a former director of the Drinking Water Standards Division at EPA, said the existing regulations work and should be credited with significantly reducing lead in drinking water, they just aren’t properly enforced. Lead pipes in both cities were rapidly removed and lead levels dropped.

Persons: Ronnie Levin, ” Levin, Joe Biden, ”, Levin, Flint, Aaron Bernstein, Bernstein, Mark Powell, Yanna Lambrinidou, “, Mary Jean Brown, Marc Edwards, wouldn't, Joe Cotruvo, Michael Schock, Schock, we’ve Organizations: Environmental Protection Agency, EPA, Harvard, Centers for Disease Control, Washington , D.C, D.C, Virginia Tech, CDC, Agency, Associated Press, Walton Family Foundation, AP Locations: Flint , Michigan, Newark , New Jersey, U.S, Boston, WASHINGTON, Washington ,, Washington, The Washington, Flint, Benton Harbor , Michigan, Newark, Benton, Benton Harbor

☆ Volkswagen plans job cuts, further launch delays at software unit -manager magazin
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBERLIN, Oct 27 (Reuters) - Volkswagen (VOWG_p.DE) wants to cut 2,000 jobs at its troubled software unit Cariad as part of a restructuring plan which will see its long-awaited new software architectures delayed even further, news outlet manager magazin reported on Friday. There is no concrete information on where positions should be cut in terms of structure and tasks," a Volkswagen works council spokesperson said. A Cariad spokesperson declined to comment on the article, but said Cariad CEO Peter Bosch has been working on a "comprehensive transformation plan" for "repositioning" the company since the summer. Volkswagen appointed Bosch, formerly Bentley production chief, as head of the unit earlier this year in an effort to get Cariad back on track.

Persons: Brendan McDermid, magazin, Peter Bosch, Herbert Diess, Miranda Murray, Friederike Heine, Kirsten Donovan Organizations: New York, REUTERS, Rights, Audi, Porsche, VW, Volkswagen, Bosch, Bentley, Thomson Locations: Manhattan , New York City, U.S

☆ The Kremlin plans to raffle off houses and holidays to shore up support for Putin ahead of an election: report
▼ + stars: | 2023-10-27 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

The Kremlin is reportedly launching a nationwide raffle ahead of next year's presidential election. The project aims to support Putin amid Russia's challenges with Western sanctions, the report said. AdvertisementAdvertisementThe Kremlin plans to shore up support for Russian President Vladimir Putin ahead of next year's election by launching a nationwide raffle, according to the independent Russian outlet Meduza. The prizes up for grabs include 300 trips across Russia and 30 housing certificates, which are vouchers that can exchanged for real estate, Meduza reported. Meduza reported that more than 400,000 people have already entered the raffle and that Russian news outlets and regional media have been instructed to promote the event.

Persons: Putin, —, Vladimir Putin, Meduza Organizations: Service, Russian, Kremlin, United, Levada Center, CNN, Freedom Locations: Russia, United Russia, US, Ukraine

☆ Ukrainian soldiers are worried about running out of combat-capable recruits: report
▼ + stars: | 2023-10-27 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Ukrainian soldiers told the Kyiv Independent they are feeling burned out by the war. Many are concerned that they're running out of combat-capable fighters, the report said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUkrainian soldiers told the Kyiv Independent they're worried about running out of combat-capable people to continue fighting against Russia as the war rages on. "If combat-capable people like us run out, we could only be replaced by people who don't know anything," Roman, who has been serving since 2016, told the Kyiv Independent.

Persons: —, Oleksandr Maroshnyk, Odesa, Maroshnyk, he's, Anatoly Organizations: Kyiv Independent, Service, Kyiv, Separate Assault Brigade, New York Times, 93rd, Mechanized Brigade Locations: Kyiv, Russia, Ukraine's, Donetsk Oblast, Bakhmut, Ukraine

Taken as a whole, the figures the government issued Friday show a still-surprisingly resilient consumer, willing to spend briskly enough to power the economy even in the face of persistent inflation and high interest rates. Income growth slowed. Adjusted for inflation, income actually fell slightly. In Friday’s report on inflation, the government also said that consumer spending last month jumped a robust 0.7%. A solid job market has helped fuel consumer spending, with wages and salaries having outpaced inflation for most of this year.

Persons: ”, Michael Pearce, Friday's, Jerome Powell, — Organizations: WASHINGTON, Federal Reserve, Commerce Department, Oxford Economics, Fed

☆ Forget Threads, it's LinkedIn and YouTube that Elon Musk wants to do battle with
▼ + stars: | 2023-10-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Elon Musk seems to be over the threat from Threads. Musk, who owns X, joined CEO Linda Yaccarino in singling out LinkedIn and YouTube as "future competitors" in a company-wide meeting on Thursday, Bloomberg reported. AdvertisementAdvertisementSince his $44 billion takeover, Musk has frequently talked about turning it into an "everything app." It's helping LinkedIn in turn: its revenue increased 8% in the three months to the end of September. Video seems to be just about everywhere online too, making Musk and Yaccarino's focus on YouTube an understandable one.

Persons: Elon Musk, —, He's, Linda Yaccarino, Musk, Mark Zuckerberg, That's, Lara O'Reilly, Yaccarino, Sundar Pichai Organizations: YouTube, Bloomberg, Service, Ebiquity, LinkedIn

☆ Linda Yaccarino follows up her car-crash interview by pretending everything's just fine at X
▼ + stars: | 2023-10-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

In a Thursday blog post, CEO Linda Yaccarino ignored all the chaos and said X's "future is bright." User numbers are reportedly down, regulators are probing the platform over disinformation, and competitors have popped up around every corner. AdvertisementAdvertisementX's CEO Linda Yaccarino also made headlines in September after giving a car-crash interview, where she seemed not to have a grasp on precise user numbers and couldn't answer questions about a paywall. Yaccarino also flagged the platform's user numbers as a point of success, pointing to new signups and time spent on the platform as potential indicators. Representatives for X and Yaccarino did not immediately respond to Insider's request for comment, made outside normal working hours.

Persons: It's, Elon Musk, Linda Yaccarino, —, Yaccarino, X Organizations: Elon, Twitter, Service, Ebiquity, Wall Street

☆ Hedge fund billionaire Steve Cohen expects a recession to come and go quickly before a stock market rally in 2024
▼ + stars: | 2023-10-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Billionaire hedge fund boss Steve Cohen doesn't expect a deep recession or a prolonged market downturn. Cohen said his hedge fund, Point72, maintains a "pretty positive" outlook on the economy. AdvertisementAdvertisementSteve Cohen, the billionaire chief of hedge fund Point72 and the owner of the New York Mets, has an upbeat outlook for the US economy and financial markets. AdvertisementAdvertisementEarlier this week, investing pioneer Rob Arnott shared a contrasting outlook for the economy this week. Recessions always start with an economy that's been booming.

Persons: Steve Cohen doesn't, Cohen, —, Steve Cohen, Rob Arnott, Arnott, Jerome Powell, CME's, Powell Organizations: Service, New York Mets, CNBC

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsLONDON, Oct 27 (Reuters) - The steepest jump in interest rates in decades will spark a domino effect on corporate defaults in the years ahead, asset manager Janus Henderson Investors said in a report on Friday. Rising borrowing costs are back in stark focus following a rout in government bonds since September as investors adjust to the prospect of interest rates staying persistently high, which has also raised corporate bond yields. "The credit cycle tends to turn only if three conditions are present: high debt loads, lack of access to capital, and an exogenous shock to cash flow. These conditions ... are all present today," Janus' global head of fixed income Jim Cielinski said. But as inflation starts slowing and higher rates are here to stay, headwinds are mounting, and the risk is that the increase in borrowing costs could outpace revenue growth, it added.

Persons: Wolfgang Rattay, Janus Henderson, Janus, Jim Cielinski, ”, Chiara Elisei, Yoruk Bahceli, Mark Potter Organizations: European Central Bank, European Union, REUTERS, Janus Henderson Investors, P Global Market Intelligence, Thomson Locations: Frankfurt, Germany

The U.S. economy is on a roll, expanding at a 4.9% annual clip in the third quarter, the Bureau of Economic Analysis reported on Thursday. Analysts are looking for the overall index to show prices increased at a 3.4% annual rate and the core index at 3.7%, down from 3.5% and 3.9%, respectively. On Wednesday, Adobe Analytics issued its monthly measure of online prices showing they continue to fall, hitting a 41-month low in September. “Online prices fell for the majority of Adobe’s tracked categories (12 of 18) on an annual basis. On a month-over-month basis, online prices were down 0.6%.”

Persons: ” Joseph Brusuelas, ”, Steve Rick, Raymond James, Eugenio Aleman, “ Organizations: Economic, RSM US, Federal Reserve, TruStage, Labor Department, Adobe Analytics, “ Locations: U.S

☆ US lawmakers question tax prep companies on sharing of taxpayer data with Big Tech platforms
▼ + stars: | 2023-10-26 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

“Americans should be able to file their taxes without fear that their sensitive data will be shared with Big Tech companies,” said the letters, copies of which were obtained by CNN. The letters — led by Massachusetts Democratic Sen. Elizabeth Warren — focus on the use of tracking technology developed by tech platforms and embedded within the tax prep companies’ websites that quietly transferred users’ personal information to Meta and Google, allegedly without their consent. Of the five tax prep companies, Intuit was not a major focus of the initial congressional probe because it did not use tracking pixels to the same extent as the others, the investigation found. They also asked the same question of each of the four other tax prep companies, as well as requesting a commitment to abide by the FTC’s warning not to use customer data in ways consumers did not expressly approve. The lawmakers requested that the tax prep firms respond by Nov. 8.

Persons: ”, Massachusetts Democratic Sen, Elizabeth Warren —, Warren, Meta, — Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Vermont Independent Bernie Sanders, Sheldon Whitehouse, Katie Porter Organizations: CNN, Federal Trade Commission, Big Tech, Massachusetts Democratic, Meta, Google, FTC, Intuit, Ramsey Solutions, Oregon Democrat, Connecticut Democrat, Vermont Independent, Rhode, Rhode Island Democrat, House Democratic Locations: Oregon, Connecticut, Vermont, Rhode Island, California

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