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☆ New CFPB rule caps banks' credit card late fees at $8
▼ + stars: | 2024-03-05 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

The Consumer Financial Protection Bureau unveiled a new rule on Tuesday that it said would cap late fees that banks charge customers at $8 per incident. By cutting late fees to $8 from an average of around $32, more than 45 million card users would save an average of $220 annually, the CFPB said in a release. Regulations tied to that law granted issuers the ability to charge ever-increasing amounts of late fees. "For over a decade, credit card giants have been exploiting a loophole to harvest billions of dollars in junk fees from American consumers," CFPB Director Rohit Chopra said in the release. "Today's rule ends the era of big credit card companies hiding behind the excuse of inflation when they hike fees on borrowers and boost their own bottom lines."

Persons: Rohit Chopra Organizations: Banking, Housing, Urban Affairs Committee, Consumer Financial, Bureau

The Dells contributed nearly $976 million to their charitable funds, which distribute gifts to a wide array of charities. Together, the 50 donors on the list contributed a total of $11.9 billion to charity in 2023. Only 23 of the richest Americans on the Forbes 400 list donated enough to appear on the Philanthropy rankings. 13 on the list, they contributed $210 million to the Institute for Protein Innovation, which shares its data with scientists for free. _____Maria Di Mento is a senior reporter and Jim Rendon is a senior writer at the Chronicle of Philanthropy, where you can read the full article.

Persons: Michael Bloomberg, Phil Knight, Penny, Michael Dell, Susan, Bill Gates, Melinda French Gates, Bernie Marcus, Ken Langone, Arthur Blank, “, ”, Renee Kaplan, — Franklin Antonio, Hugh Hoffman, —, Tim Springer, Chafen Lu, Diego’s Jay Kahn, Lauder, Sergey Brin’s, Michael J, Robert Kraft, Lucia Woods, David, Kathleen LaCross, Pierre Omidyar, Pam, They’re, John, Laura Arnold, Laura, ” Laura Arnold, Wendy Schmidt, Eric Schmidt, “ Younger, Kaplan, Jeff Sobrato, _____ Maria Di Mento, Jim Rendon, Kay Dervishi Organizations: New, New York City, Nike, Bloomberg, Knights, University of Oregon, Dells, Forbes, Forward, Qualcomm, Summer Science, SETI Institute, ALS Association , University of Cincinnati Foundation, Cincinnati Zoo, Botanical, Nature Center, Yale University, Institute for Protein Innovation, Price Club, Apple, San Diego Foundation, Discovery Foundation, Google, Fox Foundation, Parkinson’s Research, New England Patriots, Foundation, Combat, Ms, Foundation for Women, Chicago Foundation for Women, University of Virginia Darden School of Business, eBay, District of Columbia, Associated Press, Philanthropy Locations: New York, Portland , Oregon, Ohio, Moderna, California, Florida, Texas, Virginia, Washington, Hawaii, Massachusetts

☆ For years, I dreamed of overwater bungalows in destinations like the Maldives and Tahiti. Then, I found one just a 6-hour flight away in Belize.
▼ + stars: | 2024-03-05 | by ( Monica Humphries | ) www.businessinsider.com time to read: +7 min

I dreamed of overwater bungalows in places like the Maldives but dreaded the long flight there. And I believed the best place to create that experience would be in an overwater bungalow — the epitome of a luxury tropical vacation. Levente Bodo/Getty ImagesThere's a reason overwater bungalows aren't as popular in the CaribbeanOverwater bungalow resorts are more than 55 years old. And Ra'iātea's calm waters made it the ideal place for an overwater bungalow, Kelley said. My first overwater bungalow stay reminded me I don't need to hop on an all-day flight to experience the accommodation.

Persons: —, Levente Bodo, — Jay Carlisle, Hugh Kelley, Donald McCallum —, Hugh Kelley's, Vaihiria Kelley, Kelley, Condé, hasn't, Monica Humphries Organizations: Service, Levente, Muy'Ono Locations: Maldives, Central America, Caribbean, Belize, Tahiti, Polynesia, Moorea, Bali, Ra'iātea, South Pacific, Montego Bay, Jamaica, Aruba, Panama, Antigua, Mexico, St, Lucia, Vincent, Turks, Caicos, Denver , Colorado

☆ Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again
▼ + stars: | 2024-03-04 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Late Friday, Moody's Investors Service cut the deposit rating of NYCB's main banking subsidiary by four notches, to Ba3 from Baa2, putting it three levels below investment grade. The downgrade could trigger contractual obligations from business clients of NYCB who require the bank to maintain an investment grade deposit rating, according to analysts who track the company. But the figures are from the day before Moody's began slashing the bank's ratings, sparking speculation about possible flight of deposits since then. For instance, while Fitch Ratings cut NYCB's credit ratings to junk last week, it kept the bank's long-term uninsured deposits at BBB-, one level above junk. To replace deposits, NYCB could raise brokered deposits, issue new debt or borrow from the Federal Reserve's facilities, but that would all probably come at a higher cost, McGratty said.

Persons: NYCB, Moody's, Keith Horowitz, Horowitz, John Pinto, Chris McGratty, NYCB didn't, McGratty Organizations: New York Community Bank, New, Community Bank, Moody's, Citigroup, Fitch, BBB, Federal, CNBC PRO Locations: New, Yonkers , New York, Baa2, Moody's

☆ ‘The Regime’ review: Kate Winslet’s streak of award-worthy miniseries fizzles with HBO’s political satire
▼ + stars: | 2024-03-01 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

Alas, they’ve come a little too close to that with “The Regime,” a political satire that’s weird but not very good, other than savoring Winslet’s over-the-top antics as an autocratic leader. When the story begins, Vernham is already engaging in odd behavior that leaves her ministers (who assemble in “Dr. Matthias Shoenaerts and Kate Winslet in "Regime." Lustily sneering her dialogue in an exaggerated accent, Winslet throws her all into the character, but to what end? But after watching “The Regime,” consider this an offer they probably should have refused.

Persons: “ Mildred Pierce ”, Kate Winslet, they’ve, Will Tracy, Stephen Frears, Jessica Hobbs, ”, Winslet’s Chancellor Elena Vernham, Martha Plimpton, –, Vernham, Dr, Strangelove ”, Herbert Zubak, Matthias Schoenaerts, Herbert, Matthias Shoenaerts, Elena, Andrea Riseborough, Guillaume Gallienne, Herbert isn’t, clouding, Hugh Grant, can’t, Lustily, Winslet Organizations: CNN, HBO, lunacy, Warner Bros . Locations: “, Easttown, Central Europe, “ Amsterdam

☆ Wall Street is worried about NYCB's loan losses and deposit levels as stock sinks below $4
▼ + stars: | 2024-03-01 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Mike Segar | ReutersRegional lender New York Community Bank finds itself in an apparently worsening predicament just as the anniversary of last year's banking turmoil nears. "The disclosures add to our concern about NYCB's interest-only multi-family portfolio, which may require a long workout period unless interest rates decline." Days later, ratings agency Moody's cut the bank's credit ratings two notches to junk on concerns over the bank's risk management capabilities after the departure of NYCB's chief risk officer and chief audit executive. The bank's stock was briefly buoyed by a flurry of insider purchases indicating executives' confidence in the bank. Most of those deposits were insured, and it had ample resources to tap if uninsured deposits left the bank, it said.

Persons: Mike Segar, NYCB, Raymond James, Steve Moss, Moody's, Alessandro DiNello, DiNello, D.A, Davidson, Peter Winter Organizations: New York Community Bank, Reuters Regional, New, Community Bank, Silicon Valley Bank, Signature Bank Locations: Yonkers , New York, U.S, NYCB

☆ There are growing calls for Google CEO Sundar Pichai to step down
▼ + stars: | 2024-03-01 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

The slip-up was so bad it sent the company's stock tumbling, and had CEO Sundar Pichai address the troops, calling the situation "completely unacceptable." The debacle has strengthened the narrative that Google is suddenly behind in the AI race, and now there's a growing chorus of voices calling for CEO Sundar Pichai to be replaced. Pichai, who was appointed CEO of Google in 2015, and Alphabet in 2019, has proven a strong peace-time CEO for the company. He's been an effective and steady hand who protects Google's prized search business and deals diplomatically with regulators. Responding to a tweet by Color Health CEO Othman Laraki, who said Google as facing an "unsolvable problem," Mayer defended Google somewhat.

Persons: —, Sundar Pichai, Ben Thompson, Googlers, Mark Shmulik, chatbot, He's, Pichai, Aravind Srinivas, Sundar, Srinivas, Marissa, Marissa Mayer, Othman Laraki, Mayer, They've, Hugh Langley Organizations: Service, Google, Business, Color, Gartner Locations: Silicon Valley

☆ How Google lost its way
▼ + stars: | 2024-02-29 | by ( Hugh Langley | Lara O'Reilly | ) www.businessinsider.com time to read: +17 min

Just two months after Google launched Gemini, its flashy new AI model, the company revealed that it had already built a better version. AdvertisementThen, days later, Google scrambled to explain why its image generation tool spit out racially inaccurate depictions of historical figures. Users have long bemoaned — and researchers recently found — a decline in the quality of Google Search results. The fact that Google is not far and away the self-driving-car leader, it's, like, a total joke," the former Google director said, adding that the problem of Google's lost supremacy is "maybe impossible to solve, frankly." Google now is reminiscent of the Steve Ballmer-era Microsoft, which missed the smartphone, search, and cloud waves and was overtaken by Apple, Google, and Amazon.

Persons: OpenAI, Sora, Sam Altman, Sundar Pichai's, Pichai, —, Larry Page, Sergey Brin, Lea Suzuki, Getty Brin, Page, Google, Googlers, Axel Springer, Diane von Furstenberg, Giovanni Giannoni, Michael Avrukin, Vuk Valcic, wouldn't, Patrick Mork, Eric Lehman, Lehman, ChatGPT, Caesar Sengupta, Sengupta, Alexa, Google's, Steve Ballmer, Satya Nadella, Hugh Langley, Lara O'Reilly Organizations: Google, Hollywood, Industry, San Francisco Chronicle, Business, Penske Media, Microsoft, Amazon, The New York Times, Oracle, YouTube, Apple, IBM, Meta Locations: Silicon Valley, Silicon, —

☆ Memes about a disastrous Willy Wonka-themed event are taking over the internet
▼ + stars: | 2024-02-29 | by ( Olivia Singh | ) www.businessinsider.com time to read: +8 min

AdvertisementUnsuspecting children attended a Willy Wonka-inspired event in Glasglow, Scotland with high hopes, but found themselves in a world of pure horror. Paul Connell, an actor hired to play Willy Wonka at the event, told The Independent that the script supplied was "15 pages of AI-generated gibberish." Since photos and videos surfaced online, X (formerly known as Twitter) has become inundated with memes about the catastrophic event. AdvertisementThe interactive lab area drew comparisons to a meth lab“Is that the-”“The meth lab from the Glasgow Willy Wonka Experience? This photo from the Willy wonka experience is single handedly the photo of the year.

Persons: Willy Wonka, —, it's, Roald Dahl, Paul Connell, Kirsty Paterson, Glasgow Willy Wonka, k9jdz3CWH0 — Adam, @adamgreattweet, Loompa, Hugh Grant, Willy wonka, twitter.com/tmc, kes, Kate Middl, aga, witt, r.com, ady, lanning their H, dre, anne Organizations: Service, Warner Bros, Independent, Glasgow, nk Locations: Glasgow, Glasglow, Scotland, erie, ves

☆ Google is starting to feel like any other business, and staging a comeback won't be easy
▼ + stars: | 2024-02-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how Google has gone from the tech industry's vanguard of cool to just another boring company . AdvertisementGoogle has long stayed atop Silicon Valley's volatile popularity contest — but the best place to work in tech is starting to feel like any other business , Business Insider's Hugh Langley and Lara O'Reilly write. Bureaucracy, an aversion to risk, and deference to Wall Street over employees — things Google long eschewed — have become the norm. The latest example is the debacle surrounding Gemini — its flashy new AI model that faced backlash for being too "woke."

Persons: —, Rebecca Zisser, Hugh Langley, Lara O'Reilly, Alistair Barr, Sundar Pichai, Hugh, Lara, Mateusz Wlodarczyk, BI's Peter Kafka, it's, David Rosenberg, Gary Shilling, Snowflake's Frank Slootman, Ozgur Hakan Aslan Toyota, Boxabl, Elon Musk, Tesla, Hewlett Packard, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Google, Business, Gemini, Meta, Big Tech, OpenAI, Corporations, Nvidia, SEC, Universal Music Group, Universal, BI Locations: —, New York, London

☆ The smart ring era is here and tech companies are fighting for your finger. Will you wear one?
▼ + stars: | 2024-02-29 | by ( Hugh Langley | ) www.businessinsider.com time to read: +6 min

The smart ring era is here. Honor, the mobile business spun out of Huawei, also announced this week that it's working on a smart ring. Avi Greengart, president and lead analyst at Techsponential, told Business Insider at MWC that Samsung's Galaxy Ring "validates the smart ring category." Rumors of an Apple smart ring have been simmering for over a decade — mostly due to a string of patents the company has filed for. There's another good reason tech companies are eyeing smart rings right now, according to IDC analyst Francisco Jeronimo: subscriptions.

Persons: —, Prince Harry, Mark Zuckerberg, Jack Dorsey, Jennifer Anniston, Jimmy Kimmel, Smart, they've, Oura, Avi Greengart, Apple, Bloomberg's Mark Gurman, Jeremy Liew, Liew Apple, Greengart, Francisco Jeronimo, Jeronimo Organizations: Samsung, Service, Mobile, Congress, MWC, Huawei, IDC, Apple, Venture, Business Locations: Barcelona, Cupertino

☆ Kate Winslet is a blast in 'The Regime' — but critics say it's not the next 'Succession'
▼ + stars: | 2024-02-28 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +6 min

"The Regime'" is HBO's latest bet on Kate Winslet, who helped carry miniseries like "Mare of Easttown" to critical acclaim. But according to critics, the series doesn't entirely live up to Winslet's excellent performance. But while critics praised Winslet's acting, many noted that if you're looking for more "Succession," this isn't quite it. Matthias Schoenaerts and Kate Winslet in "The Regime." Miya Mizuno/HBOThe show's ensemble cast is underusedIn addition to Winslet and Schoenaerts, "The Regime" has an ensemble cast with several acclaimed actors.

Persons: —, Kate Winslet, Winslet, Elena Vernham, she's, — Vernham, Herbert Zubak, Matthias Schoenaerts, Will Tracy, Winslet's, Daniel Fienberg, Beast's Coleman Spilde, Gregory Lawrence, Miya Mizuno, Judy Berman, Marina Fang, Carly Lane, Lawrence, elucidations, Alexandre Desplat's, Fienberg, Stephen Frears, Jessica Hobbs, Alexandre Desplat, Caryn James, Oscar, Spilde, HuffPost's Fang, Andrea Riseborough, Schoenaerts, Agnes, Hugh Grant, Martha Plimpton, Judith Holt, Guillaume Gallienne, Danny Webb, David Bamber, Henry Goodman, Paste's Elijah Gonzalez, Andrea Riseborough's Organizations: Service, The, French Dispatch, Budapest Hotel, Daily, HBO, State Locations: Austria

☆ Google chief says the company got it wrong after Gemini gave 'completely unacceptable' responses and sparked a bitter backlash
▼ + stars: | 2024-02-28 | by ( Beatrice Nolan | Hugh Langley | ) www.businessinsider.com time to read: +1 min

Google CEO Sundar Pichai says the company got it wrong as controversy swirls over its Gemini AI. Pichai made the comments in a memo sent to staff and obtained by Business Insider. Google faced backlash after users complained Gemini was generating historically inaccurate images. AdvertisementGoogle CEO Sundar Pichai says the company "got it wrong" after its flagship AI system Gemini showed bias, which sparked backlash from some users. In a memo sent to employees, which Business Insider obtained, Pichai acknowledged the recent controversy over Gemini.

Persons: Sundar Pichai, Pichai, Gemini, —, Semafor, Bard Organizations: Gemini, Business, Google, Service

☆ Rebecca Ferguson says she asked 'idiot' costar to be replaced with a tennis ball after they screamed abuse at her on set
▼ + stars: | 2024-02-28 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +3 min

Rebecca Ferguson said she once asked for an "absolute idiot" costar to be replaced with a tennis ball after they screamed abuse at her, reducing her to tears on set. The actor did not name the individual but did confirm it was not her "Mission Impossible" costar Tom Cruise. The next day on set, Ferguson decided to challenge her costar and put an end to his unacceptable behavior. I'm going to work toward a tennis ball. Using a tennis ball attached to a stick as a focal point for the actors to look at is common in movies when CGI is involved.

Persons: Rebecca Ferguson, Josh Smith, couldn't, Tom Cruise, Ferguson, Hugh Jackman, It's, Hugh, Hercules, Dwayne Johnson, Rebecca, — Dwayne Johnson, wouldn't Organizations: Business, Mondadori

☆ Rebecca Ferguson praised by former costars for speaking out against ‘idiot’ castmate
▼ + stars: | 2024-02-28 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —Rebecca Ferguson may use “the Voice” while playing her powerful “Dune” character, but she also knows how powerful her own voice can be in real life. While Ferguson ruled out two former costars in the podcast interview – namely, Hugh Jackman and Tom Cruise – speculation has run rampant as to whom she might have been talking about. One of her previous scene partners surfaced on social media to praise the actress for her bravery – Dwayne Johnson, who wrote on X, “Hate seeing this but love seeing her stand up to bulls–t. “I remember being so scared and I looked at this person and I said, ‘You can F off. “I’m not scared of the consequences of saying what I think,” Ferguson said.

Persons: Rebecca Ferguson, Josh Smith, ”, –, “, Ferguson, Hugh Jackman, Tom Cruise, – Dwayne Johnson, Rebecca, ” Johnson, Emily Blunt, couldn’t, Ferguson –, ’ ”, “ I’m, ” Ferguson Organizations: CNN

☆ Google chief says the company got it wrong after Gemini's responses sparked a bitter backlash. Read the full memo.
▼ + stars: | 2024-02-28 | by ( Beatrice Nolan | Hugh Langley | ) www.businessinsider.com time to read: +2 min

Google CEO Sundar Pichai says the company got it wrong after its flagship AI system Gemini showed bias, which sparked backlash from some users. In a memo sent to employees, which Business Insider obtained, Pichai acknowledged the recent controversy over Gemini. Pichai said in the memo: "I want to address the recent issues with problematic text and image responses in the Gemini app (formerly Bard). Pichai appeared to acknowledge some of this criticism in the memo sent to staff. Read the full memo that Pichai sent to staffers:

Persons: Sundar Pichai, Pichai, Semafor, Bard, Elon Musk, Adolf Hitler, Gemini, Hitler Organizations: Google, BI, Tesla, Business

☆ As AI takes hold of your smartphone, the end of the app era could be in sight
▼ + stars: | 2024-02-28 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

Smartphone makers flooded Mobile World Congress to show off new AI features. More AI tools are moving on to devices, which would make them faster and cheaper to run. Now, as the industry looks to capitalize on the AI boom and galvanize a stagnating mobile market, phone makers want the AI tools to run locally on the phone itself. The company attended MWC to tout how it's helping phone makers such as Samsung and Honor run more AI tools on their phones. Samsung was also there, previewing some of the AI tools it's begun to roll out on its phones, including a nifty live-translation feature.

Persons: —, chipmakers, it's, Morgan Stanley, Francisco Cheng, Hugh Langley, Cheng, Siri, Francisco Jeronimo, Jeronimo Organizations: Congress, Service, Mobile, Companies, Qualcomm, Samsung, Hugh Langley Qualcomm, MWC, Google, Motorola, IDC, Insider, Deutsche Telekom, Brain.ai Locations: Barcelona

☆ How America’s once great department stores became a dying breed
▼ + stars: | 2024-02-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

But department stores, focused on America’s middle class, are fading. The victims of shifting consumer tastes were not the department stores that anchored the local mall, it was the small, locally owned stores along downtown shopping districts that were closing their doors. And possibly even more than the big box competitors, department stores have suffered from consumers shifting to buying items online rather than in person. The steady closing of the department stores that once served as “anchors” of malls across suburban America has been another nail in the coffin of many malls, hurting the department stores that remained in hollowed-out malls with a fraction of their earlier traffic. Saunders said one of the primary problem for Macy’s is that its holding company, formerly known as Federated Department Stores, spent much of its resources on buying other department store brands, such May’s Department Stores, and Filene’s, rather than investing in the stores its held.

Persons: New York CNN —, Neil Sauders, ”, JC Penney, It’s, “, Neil Saunders, Shannon Stapleton, Saunders, ” Saunders, Al Bello, Sunny Zheng, Macy’s, Tony Spring, Taylor, Brian Snyder, Eddie Lambert, Michael Brown, Kearney, ” Brown, Mike Segar, Richard W, Sears, Alvah Roebuck, Sears Roebuck, Bettmann, PhotoQuest, Jack Manning, Frank Scherschel, Owen, Lucille Jagusch, Arlene Hardt, Martin Luther King Jr, Michael Ochs, Ron Frehm, Ralf, Finn Hestoft, Mark Peterson, Seth Meyers, Hugh Jackman, NBCUniversal, Kaylin Wilson, Jim Cole, Rene Johnston, Maria Alejandra Cardona, Scott Olson, Cesar Villasenor, Mel Melcon, Sarah Blesener, Paul Hennessy, Patti Naleck, Naleck, Stacey Wescott, Brown Organizations: New, New York CNN, American, Walmart, Company, Department, Sears, Target, GlobalData, JCPenney, Research, RadioShack, Reuters Sears, Federated Department Stores, May’s, Reuters, Chicago History, Sears Roebuck, Roebuck, Hulton, AP, AP Soldiers, Michael Ochs Archives, Getty, Bettmann, Kmart, Bloomberg, Toronto Star, Reuters Residents, Los Angeles Times, New York Times, Chicago Tribune, Tribune, Service Locations: New York, GlobalData, America, Nanuet , New York, North Redwood , Minnesota, Chicago, El Paso , Texas, Jackson , Mississippi, Tucson , Arizona, Caracas, Venezuela, Niles , Illinois, Morton Grove , Illinois, Baltimore, White Plains , New York, Woodfield , Illinois, Hicksville , New York, Nashua , New Hampshire, Mentor , Ohio, Mississauga , Ontario, Hialeah , Florida, Janesville , Wisconsin, Santa Monica , California, Rockaway , New Jersey, Leesburg , Florida, Schaumburg , Illinois

☆ Jamie Dimon on Capital One's $35.3 billion Discover acquisition: 'Let them compete’
▼ + stars: | 2024-02-26 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. JPMorgan Chase CEO Jamie Dimon isn't worried about the added competition from a bulked-up Capital One if its $35.3 billion takeover of Discover Financial gets approved. Dimon, speaking to CNBC's Leslie Picker from a Miami conference, acknowledged that if regulators approve the Capital One-Discover deal, his bank will be eclipsed as the nation's biggest credit-card lender. The deal has two major components: the credit card business and the payment network, Dimon noted. It's unclear if Capital One can create a true alternative to the dominant card networks in Visa and Mastercard with this deal, Dimon said.

Persons: Jamie Dimon, JPMorgan, JPMorgan Chase, Jamie Dimon isn't, Dimon, CNBC's Leslie Picker, Richard Fairbank, Richard Organizations: JPMorgan Chase, JPMorgan, Discover Financial, Capital, Visa, Mastercard, American Locations: Davos, Switzerland, Miami

☆ Google DeepMind CEO addresses the Gemini debacle and says image generator could be back in a 'couple of weeks'
▼ + stars: | 2024-02-26 | by ( Hugh Langley | ) www.businessinsider.com time to read: +1 min

Google DeepMind CEO Demis Hassabis addressed the Gemini debacle at Mobile World Conference. He said the company hopes to have the image generator online again in a "couple of weeks." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle DeepMind CEO Demis Hassabis said the company hopes to relaunch its artificial intelligence image generator as soon as the next "couple of weeks." Google paused access to its image generator last week after users found that the tool would produce historically inaccurate images, including racially diverse images of the US Founding Fathers and Nazis.

Persons: Demis Hassabis, — Organizations: Google, Mobile World Conference, Service, Business

☆ 'I hate losing money' — Jim Cramer says he will vote to put Nelson Peltz on Disney's board
▼ + stars: | 2024-02-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

As a Disney shareholder for the Club, Jim Cramer has decided to support activist investor Nelson Peltz's fight for seats on the board of the entertainment and theme parks giant. It means he's going to vote to put the Trian Partners founder Peltz and former Disney CFO Jay Rasulo on the Disney board. Jim believes Peltz and Rasulo will hold Disney's board and management accountable for making changes to fix the business and turn around the company's underperforming stock. "It is ridiculous to me that Netflix has crushed Disney," Jim said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Nelson Peltz's, Jim, Peltz, Jay Rasulo, Ike Perlmutter, Perlmutter, Mondelez, Kraft Heinz, Bob Iger, Iger, Nelson Peltz, Hugh Johnston, Jim —, Jim Cramer's Organizations: Club, Trian Partners, Disney, Marvel Entertainment, Marvel, Netflix, Procter & Gamble, CNBC Locations: New York City, PepisCo

☆ Pivotal, the flying-car company backed by Google cofounder Larry Page, lays off 10% of staff
▼ + stars: | 2024-02-23 | by ( Hugh Langley | ) 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 previewPivotal, the flying car company backed by Google cofounder Larry Page, announced this week it had laid off nine employees, or 10% of its staff, according to the company and a memo seen by Business Insider. It went on sale in January starting at $190,000, and the company says the units will ship in June. His early prototyping caught the attention of Page, who agreed to financially back the company and move it to Palo Alto, California in 2014. Page initially planned to merge Opener with Kittyhawk, his other flying car venture, but tensions between leaders kept the two operations apart.

Persons: —, Larry Page, Ken Karklin, Karklin, Marcus Leng, Page, Kittyhawk, Leng Organizations: Service, Business, Karklin, Kittyhawk, Boeing Locations: Canadian, Palo Alto , California, Wisk

☆ Sam Waterston says goodbye to ‘Law & Order’
▼ + stars: | 2024-02-23 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Sam Waterston’s Jack McCoy has appeared in his final episode of “Law & Order.”His character announced the departure on the Feb. 22 show, with McCoy saying to ADA Nolan, played by Hugh Dancy, that it is time he leaves the job. The McCoy character has also appeared on “Law & Order: SVU” and “Law & Order: Trial by Jury” and the movie, “Exited: A Law & Order Movie.”Outside of the show, Waterston released a statement about his exit, saying the time had come for him to move on. It’s a pleasure to talk directly like this to the backbone of Law & Order’s absolutely amazing audience,” he wrote. “The time has come for me to move on and take Jack McCoy with me. I hope to see you all on the flip side.”The new district attorney will be played by Tony Goldwyn, who will appear in a March 14 episode.

Persons: Sam Waterston’s Jack McCoy, ”, McCoy, Nolan, Hugh Dancy, “ I’ve, “ It’s, ” Waterston, Jury ”, “, Waterston, Jack McCoy, I’m, doesn’t, Dick Wolf, Tony Goldwyn Organizations: CNN, “, Law

☆ Capital One’s acquisition has $1.4 billion breakup fee if rival bid emerges, but none if regulators kill deal
▼ + stars: | 2024-02-22 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Capital One 's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter told CNBC. Capital One said late Monday it had an agreement to purchase rival credit card player Discover in an all-stock transaction valued at $35.3 billion. Watchers of the Capital One agreement are taking particular interest in whether U.S. banking regulators will allow it to happen. Neither side will owe the other a breakup fee if regulators block the acquisition, which is said to be typical for bank deals. The deal happened after Capital One approached Discover, and didn't include a wide search for all possible bidders, according to one of the people.

Persons: Richard Fairbank, — CNBC's Alex Sherman Organizations: Discover Financial, CNBC, Capital, Discover, Mobile, U.S . Department of Justice, Regulators, Bank, Federal Reserve, Currency, The Justice

☆ Google employees are posting internal memes poking fun at how many AI models and names the company launched
▼ + stars: | 2024-02-21 | by ( Hugh Langley | ) www.businessinsider.com time to read: +1 min

Google just launched another AI model, named Gemma. Even some Google staff are losing track of all the new models and names. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The company just announced yet another new family of AI models called Gemma. In the last three months, Google has launched Gemini, killed Bard and renamed it Gemini, launched a better version called Gemini Advanced (not to be confused with Gemini Ultra, which is the name of the model), launched another improved version called Gemini 1.5, launched Gemini for Workspace, and given employees access to an internal version of Gemini trained on Google data, named Goose.

Persons: Gemma, —, Bard Organizations: Google, Service, Gemini, Business

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