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☆ Amazon CEO Andy Jassy says his letter to shareholders follows one of the toughest economic years in recent memory. Read it in full.
▼ + stars: | 2023-04-13 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +38 min

Further, as machine learning adoption has continued to accelerate, customers have yearned for lower-cost GPUs (the chips most commonly used for machine learning). While some areas of the economy have struggled over the past few years, Amazon Business has thrived. Some people have never heard of Amazon Business, but, our business customers love it. For years, Amazon customers had asked us when we'd offer them an online pharmacy as their frustrations mounted with current providers. More recently, a newer form of machine learning, called Generative AI, has burst onto the scene and promises to significantly accelerate machine learning adoption.

☆ First Citizens Won the SVB Auction. Can It Win Over SVB’s VC and Startup Clients?
▼ + stars: | 2023-04-12 | by ( Marc Vartabedian | ) www.wsj.com time to read: 1 min

While First Citizens Bancshares Inc. may not have the record of Silicon Valley Bank in serving the startup ecosystem, venture capitalists and entrepreneurs who are familiar with the Raleigh, N.C.-based bank say its emphasis on customer relations fits well with SVB’s flexible approach to serving clients. Venture and startup players had wondered about the fate of SVB since the Federal Deposit Insurance Corp. took ownership of it in March and put it up for auction. First Citizens has since taken on most of the assets and liabilities...

As Wall Street gears up for another earnings season, analysts see some stocks better positioned than others for gains. Against this backdrop, CNBC Pro used FactSet data to screen for stocks that Wall Street analysts think have the largest potential upside heading into a new earnings season. And more than half of analysts covering Booking Holdings still rate it a strong buy or buy, according to Refinitiv data. BKNG YTD mountain Shares of Booking Holdings Another stock expected to outperform during earnings season is Paccar . Salesforce's earnings per share are estimated to climb by 24% over the next six months.

NEW DELHI, April 6 (Reuters) - Singapore's imports of Russian naphtha nearly tripled in the first quarter of 2023, government data showed, after the European Union banned oil products imports from Russia. The Asia oil hub imported 741,000 tonnes of Russian naphtha in the period, accounting for about 23% of Singapore's total imports of the refined product, a Reuters calculation based on Enterprise Singapore data showed. The EU banned imports of Russian oil products from Feb. 5 and the Group of Seven Nations, EU and Australia imposed a $45 cap on Russian naphtha trade using western ships and insurance. The limitations, which have changed global oil trade flows, are aimed at curbing Moscow's revenues, while allowing Russian supplies to stay in the market and keep world oil prices low. The key buyers of naphtha from Singapore are South Korea, China, Taiwan and Japan, the data showed.

☆ How your business can leverage email marketing for closer customer relationships
▼ + stars: | 2023-03-31 | by ( Sponsor Post | Created Insider Studios With Mailchimp | ) www.businessinsider.com time to read: +6 min

In pursuit of this goal, email marketing can be a valuable and lucrative tool for these companies to leverage. Email marketing can be an effective and lucrative marketing channel for many businesses, with a remarkable return on investment of $43.60 for every dollar spent, according to the Data & Marketing Association. Leverage an email marketing strategy that is content-infusedMany middle-market companies have established an active content strategy, but what some overlook is creating an email marketing strategy to boost that content. A good email strategy allows you to address your business goals with potential campaigns, timing, audience demographics, and promotional tactics to get more signups. The bottom line: Email marketing is a powerful marketing channel and should be a key component of any mid-market business's marketing strategy.

☆ Newsletters are helping these companies save money and bring a personal touch into their marketing strategies
▼ + stars: | 2023-03-31 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +8 min

Small-business owners say email marketing is one of the most cost-effective ways to reach an audience. These growing companies share how they saved money and were able to make more personal connections through email marketing. According to eMarketer, 67% of marketing professionals are investing in email marketing, and 48% of millennial consumers prefer to receive deals from brands via email. It gives businesses a direct pipeline to their audienceCollecting customer information is one of the most valuable aspects of email marketing, McNair said. "If you're not doing email marketing, you're leaving really important money on the table."

☆ Want in on the AI boom? These 8 high-quality stocks are already ahead of the pack
▼ + stars: | 2023-03-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +13 min

AI-powered technology companies Microsoft Microsoft arguably pushed AI into the mainstream with its unexpected release of its new AI-powered search engine Bing. During its annual conference for developers earlier this month, Nvidia demonstrated the fundamental importance of its role in facilitating the usage AI applications. Also unveiled were four new chips designed specifically for inferencing , which are optimized for various new generative AI applications. To facilitate these operations, AMD provides machine learning and deep learning systems which offer higher-performance computing capabilities to accelerate AI applications. Qualcomm Qualcomm (QCOM) is focused on making AI technology on-device processing more efficient across different industries and products.

☆ Burger King is closing 26 locations in Michigan. See the full list.
▼ + stars: | 2023-03-28 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

26 Burger King locations are closing in Michigan by April 15, predominantly in the Detroit area. Burger King franchisee EYM King of Michigan said it failed to reach a deal with the fast-food giant. EYM began shuttering Burger King locations on March 17 and expects to shutter all locations by the middle of April. Leslie AllenThe news of over two dozen Burger King locations closing in Michigan comes as the chain, owned by Restaurant Brands International, undergoes a brand reset in the US. The parent company also named a new CEO of Burger King in Joshua Kobza, formerly the chain's COO.

☆ Why connectedness is the future of great customer experiences
▼ + stars: | 2023-03-21 | by ( Sponsor Post | Created Adobe With Insider Studios | ) www.businessinsider.com time to read: +6 min

For generations before digital, customer interactions were highly personal: Merchants talked directly with each person and learned pretty quickly why they were or were not completing transactions and deepening relationships. Connected customer experiencesEvery business wants to grow. But in order to connect a customer's experiences, brands first must connect with them, and do so with their privacy and preferences in mind. The same platform that enables connected customer experiences should be able to connect with and facilitate all of these business needs, leveraging properly gathered and governed customer data. Find out how Adobe can help you form a connected customer experience.

☆ The Evolving Payments Purchasing Chain: How Pressures Are Changing the Ecosystem
▼ + stars: | 2023-03-21 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

Insider IntelligenceThe changing economic landscape is leading to consolidation and a stronger focus on innovation. The rise of digitization and noncard payment methods could pose a large threat to issuers' transaction-based revenues. What is abundantly clear is that the diversification of the payments landscape paired with the threat of new regulation is creating more opportunities for the savvy consumer. Curious to learn more about the evolving payments purchasing chain? Click here to purchase The Payments Ecosystem collection.

Companies FTX Trading Limited FollowMarch 20 (Reuters) - Bankrupt crypto exchange FTX on Sunday sued the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, accusing them of wrongly claiming ownership of the exchange's assets. FTX called FTX DM a "fraudulent enterprise", initially set up only to be a "local service company", which did not own the FTX.com exchange or any of the cryptocurrency seized. FTX has been at odds with Bahamian officials ever since filing for bankruptcy protection on Nov. 11. The Securities Commission of the Bahamas began liquidation proceedings against FTX DM a day before the U.S. bankruptcy filing of FTX Trading and more than 100 affiliates, and the two sides have sparred over ownership of FTX assets and access to company data. FTX reported this month that Bankman-Fried took $2.2 billion in funds from the company during a period when the crypto exchange lost $8 billion of customer money.

☆ Taser maker Axon Enterprise shares are up for an eighth-straight year. Here's what's driving the gains
▼ + stars: | 2023-03-19 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

One stock that's bucking all macro concerns in 2023, and has been for years, is Taser maker Axon Enterprise . Axon shares are up nearly 30% this year, putting them on track for their eighth consecutive annual gain. While other smaller firms offer these products, Axon has been snatching up market share as it leverages its relationship with law enforcement. The Taser maker has a customer relationship with roughly 17,000 out 18,000 U.S. law enforcement agencies, according to a note this month from Goldman Sachs . The firm also has dedicated sales representatives for 1,200 for the largest agencies, which represent 70% of law enforcement patrol officers.

☆ How to Pick a Financial Advisor
▼ + stars: | 2023-03-17 | by ( ) www.wsj.com time to read: +12 min

Read on to get started:Types of financial advisorsMany financial professionals, including financial planners, securities brokers, investment managers, and insurance brokers call themselves financial advisors so it’s important to know exactly what services an advisor provides before hiring one. Financial advisor designationsThere are myriad designations for financial advisors but only a handful that indicate the expertise most consumers need. CPAs, or Certified Public Accountants, can be certified with a Personal Financial Specialist credential, which combines their tax expertise with personal financial planning knowledge. How to find a financial advisorFinding a financial advisor is not so different from finding any other specialized service you’re in the market for. The right financial advisor can help navigate your financial life, from budgeting everyday spending to fulfilling long-term financial goals over a lifetime including the purchase of a home and a comfortable retirement.

"Jamie Dimon knew in 2008 that his billionaire client was a sex trafficker," attorney Mimi Liu told Manhattan U.S. District Judge Jed Rakoff at a hearing late Thursday, referring to the year Epstein was first criminally charged with sex crimes. "If Staley is a rogue employee, why isn't Jamie Dimon?" The lawyer continued: "Staley knew, Dimon knew, JPMorgan Chase knew" about Epstein's criminal conduct. Simon Dawson | Bloomberg | Getty ImagesA lawyer for JPMorgan disputed those arguments, "in particular the point about Jamie Dimon having any specific knowledge." Wexler also said, "Jamie Dimon has no recollection of reviewing the Epstein accounts."

☆ The Evolving Payments Purchasing Chain: How Digitization and Economic Pressures Are Changing the Ecosystem
▼ + stars: | 2023-03-16 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

Insider IntelligenceThe changing economic landscape is leading to consolidation and a stronger focus on innovation. Both large and small players in the space can adapt their products to address current market needs and press on toward digitization. The rise of digitization and noncard payment methods could pose a large threat to issuers' transaction-based revenues. Curious to learn more about the evolving payments purchasing chain? Click here to purchase The Payments Ecosystem collection.

☆ Club holdings Estee Lauder and Honeywell made news Tuesday. Here are our takes
▼ + stars: | 2023-03-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Club holdings Estee Lauder (EL) and Honeywell (HON) are in the news Tuesday. Cowen initiates coverage of Estee Lauder EL 1Y mountain Estee Lauder's stock performance over the past 12 months. The news: Cowen started coverage of Club holding Estee Lauder Tuesday with an outperform rating and a price target of $280. The Club's take: Estee Lauder is one of the best consumer stocks to play the reopening of China after it ditched its zero-Covid policy. An Estee Lauder pop-up store is seen inside daimaru Department Store on Nanjing Road Pedestrian street in Shanghai, China, August 6, 2021.

☆ Enterprise Tech Firms Push Further Into Generative AI
▼ + stars: | 2023-03-08 | by ( Angus Loten | ) www.wsj.com time to read: +7 min

Generative AI, the technology underlying the viral ChatGPT chatbot, runs on algorithmic language models trained on vast amounts of online data. “We think 2023 will be the year that generative AI will become prevalent and a key component of modern office work,” he said. On Tuesday, the company launched a $250 million investing fund targeting generative AI startups. Yet despite assurances from the enterprise market’s biggest players, most corporate tech chiefs are taking a wait-and-see approach to ChatGPT-like generative AI technology, analysts said. Steve Santana, chief information officer at educational-testing company ETS, said he is more open to working with large enterprise-technology firms on generative AI capabilities, rather than small niche providers.

☆ Goldman Sachs says buy Taser maker Axon Enterprise, as greater oversight of police will drive demand
▼ + stars: | 2023-03-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to buy Axon Enterprise , Goldman Sachs said. "AXON's market leadership with TASER has resulted in deep customer relationships with state and local law enforcement (e.g., 17k of 18k US law enforcement agencies) and a highly valuable installed base of law enforcement personnel," Ng wrote to clients on Tuesday. Axon Enterprise shares are more than 33% higher this year, and outperformed with a more than 5% gain in 2022 as well. Amid growing calls for oversight of law enforcement, the analyst noted Axon should easily step in to meet greater demand for sensors such as body cameras, given its customer relationship with roughly 17,000 out 18,000 U.S. law enforcement agencies. The firm has dedicated sales representatives for 1,200 for the largest agencies representing 70% of law enforcement patrol officers, according to the note.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Carvana, Ulta, Meta, Alphabet & more
▼ + stars: | 2023-03-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Canaccord initiates Bowlero as buy Canaccord said the bowling company has a "unique growth and profitability story." Bank of America reiterates Meta as buy Bank of America said Meta is well positioned for "revenue acceleration." Deutsche Bank reiterates Ulta as buy Deutsche called Ulta "resilient." Bank of America reiterates On Semiconductor as a top pick Bank of America said the semiconductor company is a top autos pick that has the "right execution." Needham reiterates Alphabet as buy Needham said investors shouldn't be concerned about any legislative risks for Alphabet.

☆ A leaked draft of Salesforce's business plan focuses on Slack, Tableau, MuleSoft — and admits it's been too slow to integrate acquisitions into its main products
▼ + stars: | 2023-03-03 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +6 min

A draft of Salesforce's internal business plan discusses integrating Slack, Tableau, and MuleSoft with its main products. The draft plan shows how Salesforce aspires to fix "delays in M&A integration" and "siloed priorities." A leaked draft of Salesforce's annual business plan shows the company is focused on better integrating Slack, Tableau, and MuleSoft into its core products as it faces criticism about its acquisition strategy. Salesforce is using Slack, Tableau, and MuleSoft to help fight off activistsSalesforce appears to want to fix this perception, according to the draft document and recent public moves. Slack, Tableau, and MuleSoft — and their integration into Salesforce's other key products — feature heavily in a discussion in the plan on how Salesforce will reach its goal of over 30% margins.

☆ Why you’re about to see ChatGPT in more of your apps
▼ + stars: | 2023-03-01 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

OpenAI is opening up access to its ChatGPT tool to third-party businesses, paving the way for the viral AI chatbot to be integrated into numerous apps and services. Instacart, Snap and tutor app Quizlet are among the early partners experimenting with adding ChatGPT. The initial batch of companies tapping into OpenAI’s API each have slightly different visions for how to incorporate ChatGPT. Dating website OkCupid has already experimented with using ChatGPT to write matching questions. Some school systems, such as in New York and Seattle, banned the use of ChatGPT in the classroom over concerns about students cheating.

☆ Nobody likes negative customer reviews, but 3 small-business owners share why the feedback has actually been great for business
▼ + stars: | 2023-02-27 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +8 min

"These changes have helped me deliver a better product to my customers and avoid future negative reviews," Kuhl said. Negative reviews help companies learn where to improveOne of the biggest benefits of negative reviews is that they identify areas where companies can improve, Leff said. Showing you value feedback builds customer trustIt may be tempting to ignore or even delete negative customer reviews. Create a process to respond to negative reviewsTo help you handle the inevitable negative customer review, Leff recommends establishing a process. "We grow from the negative reviews and the feedback they provide, especially if the feedback is warranted.

☆ Mercedes-Benz cars to have 'supercomputers', unveils Google partnership
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +3 min

But the car companies also want to keep control over their customer relationships as well as valuable data generated by their cars. Mercedes-Benz is moving from a patchwork approach of integrating software from a range of suppliers to controlling the core of its software. Under the Google partnership, Google Maps will be Mercedes-branded and provide drivers with Google traffic information and automatic rerouting, as well as the ability to watch YouTube on the cars' entertainment system when the car is parked, or in Level 3 autonomous driving mode. Google and Mercedes-Benz also agreed to explore further collaboration with Google Cloud data and artificial intelligence capabilities. Others carmakers like General Motors, Renault (RENA.PA), Nissan (7201.T) and Ford (F.N) have embedded an entire package of Google services into their vehicles, offering features like Google Maps, Google Assistant and other applications.

☆ Fintech threat to big banks fizzled in 2022 as rates rose - report
▼ + stars: | 2023-02-15 | by ( Hannah Lang | ) www.reuters.com time to read: +2 min

Feb 15 (Reuters) - The competitive threat of financial technology companies to big banks diminished over the past year as rising interest rates constricted funding, a new report from Moody's Investor Service found. The report cited figures from CB Insights that showed global fintech funding fell 46% from 2021 to 2022. Banks have long recognized that technology could disrupt business models and allow technology conglomerates to enter banking, Moodys said. Fintech companies often face more regulatory obstacles than banks and may have encountered new requirements in certain jurisdictions in recent years, according to Moody’s. But although the current macroeconomic environment may pose challenges to fintech companies, the sector still has the potential to increase financial inclusion and lower costs to consumers, the report found.

☆ ChatGPT frenzy sweeps China as firms scramble for homegrown options
▼ + stars: | 2023-02-11 | by ( ) www.cnbc.com time to read: +3 min

Microsoft -backed OpenAI has kept its hit ChatGPT app off-limits to users in China, but the app is attracting huge interest in the country, with firms rushing to integrate the technology into their products and launch rival solutions. OpenAI or ChatGPT itself is not blocked by Chinese authorities but OpenAI does not allow users in mainland China, Hong Kong, Iran, Russia and parts of Africa to sign up. Dozens of bots rigged to ChatGPT technology have emerged on WeChat, with hobbyists using it to make programmes or automated accounts that can interact with users. ChatGPT supports Chinese language interaction and is highly capable of conversing in Chinese, which has helped drive its unofficial adoption in the country. SleekFlow, a Tiger Global-backed startup in Hong Kong, said it was integrating the AI into its customer relations messaging tools.

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