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☆ It's not just Nvidia: The AI boom could create semiconductor jobs across the US and reduce reliance on risky Taiwan
▼ + stars: | 2024-02-29 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

The demand for Nvidia's AI chips could bolster job growth across the semiconductor industry. It could also help bring more semiconductor chip manufacturing stateside and reduce the US's reliance on Taiwan — which remains vulnerable to Chinese invasion that would wreak havoc on the global economy. AdvertisementEven without the AI boom, the semiconductor industry was already poised for big job gains in the near future. Of the 115,000 US new semiconductor jobs the Semiconductor Industry Association is projecting by 2030, it said roughly 67,000 of these positions risk going unfilled given current college degree completion rates. In an effort to prevent a worker shortage, community colleges and universities across the country have partnered with semiconductor companies.

Persons: —, Pat Gelsinger, It's, who've, TSMC, Syed Alam, Ed Kaste, GlobalFoundries, Mark Muro, Muro, Jensen Huang, hasn't, Dylan Patel, SemiAnalysis, Patel, Accenture's Alam, Alam Organizations: Nvidia, TSMC, Service, Deloitte, Semiconductor Industry Association, Accenture, Meta, Intel, AMD, Brookings Institution, Samsung, Google, IBM, Lam Research, Materials, KLA Corporation Locations: Taiwan, Arizona

☆ Alibaba Cloud slashes prices by as much as 55% to fuel AI growth in China
▼ + stars: | 2024-02-29 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Alibaba 's cloud business on Thursday said it is cutting prices on a wide range of core cloud products by as much as 55%, in a bid to fuel AI growth in China. The move aims to make "cloud capabilities more inclusive and accessible in the era of AI," Alibaba Cloud said. "As the biggest cloud service provider in China and APAC, we see tremendous growth prospect of China's digital market," said Liu Weiguang, president of public cloud business at Alibaba Cloud Intelligence. "One is using cloud to support generative AI initiatives. With its massive calls on compute, storage, and networking, generative AI needs cloud to scale.

Persons: Alibaba, Liu Weiguang, Liu, OpenAI Organizations: Alibaba, Holding, Smart, Alibaba Cloud Intelligence, McKinsey Locations: Chongqing, China

☆ Home Equity Loan Alternative Could Revolutionize the Housing Market
▼ + stars: | 2024-02-28 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Like a lot of homeowners, Schummer was keen to convert some of his theoretical wealth into real cash. These kinds of deals, often referred to as home-equity-sharing agreements or home-equity investments, have existed on the fringes of housing finance for decades. The success or failure of home-equity investments could shape the future of homeownership in America. If the home's value has gone up, everyone wins; sell it for a loss, and the investor might share in that downside. "Over time for us, the customer becomes everybody," Eoin Matthews, the chief business officer and a cofounder of Point, told me recently.

Persons: Kennis Schummer, Schummer, Laurie Goodman, Goodman, he'd, Eoin Matthews, —, Hometap, Jim Riccitelli, Riccitelli, Adam Rust, Rust, Rust wasn't, I'm, Jordan Gilberti, Holly Bunting, Mayer Brown, Edwin Remsberg, Matthews, they'd, Jeffrey Glass, Glass, I've, he's Organizations: Consumer, Urban Institute, Federal Reserve, Bain Capital, Palisades Group, Redwood Trust, Getty, Consumer Federation of America Locations: Pensacola , Florida, California, homeownership, America, Connecticut, Maryland, Florida

☆ One New Yorker won $150,000 when she found out her landlord had been overcharging her. Now a bunch more tenants are using stabilization laws to get money back and pay cheaper rent.
▼ + stars: | 2024-02-28 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +13 min

AdvertisementAs TikTok becomes the new town square for all things economic transparency, the latest target of populist ire is New York City landlords. Several videos that have recently gone viral show viewers how to look into their rent histories and call out examples of potentially illegal hikes. Wait times for rent histories are now at 20 business days, up from 10 in late January, as a result of "social media activity." Klenkar has made TikToks about her old apartment and rent histories and has had "lots" of people reach out with their own rent histories. More may be on their way as New Yorkers seem to be requesting their rent histories en masse.

Persons: they've, —, Danielle —, Danielle, TikTok, it's, There's, they're, Allia Mohamed, She's, Mohamed, They've, he's, Carla —, Carla, Thomas Trutschel, Anna Klenkar, Klenkar, I've, Gothamist, DHCR, overcharge, Esteban Girón, shouldn't, It's Organizations: New York, Tenants, Service, Business, BI, Yorkers, New, US, Division, Housing, Community, Rent Administration, Rent, New York State Homes, Community Renewal, Tenant Union, Tenants PAC, Directors Locations: New York State, Cobble Hill, Brooklyn , New York, York City, New York, New York City, New, Washington Heights, Manhattan, Long Island City, Lower, Side, backpay

☆ Drugs like Ozempic and Wegovy could strengthen the US economy, Goldman Sachs predicts
▼ + stars: | 2024-02-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —The US economy is set to reap considerable benefits from Americans taking popular medications used for weight loss, including Ozempic and Wegovy, Goldman Sachs analysts wrote in a recent research report. Originally developed to treat type 2 diabetes, they proved to be highly effective at helping people shed weight in clinical trials. (Ozempic has not been approved for weight loss by regulators, though Wegovy, a similar drug, has.) Goldman Sachs argues that since poor health unambiguously weighs on the economy, improving health outcomes due to GLP-1s could lower costs and boost productivity, shoring up economic output. For some Americans who are obese but don’t have diabetes, obtaining those drugs has become difficult, if not impossible.

Persons: Goldman Sachs, Eli Lilly, Jody Dushay, Beth, Doug Langa, they’ve Organizations: DC CNN, Government, Novo Nordisk, Beth Israel Deaconess Medical, CNN Locations: Washington, United States, North America, Novo

☆ MrBeast brings in $700 million a year but says he's not rich: 'I've reinvested everything to the point of stupidity'
▼ + stars: | 2024-02-15 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

The YouTuber — real name Jimmy Donaldson — rakes in hundreds of millions of dollars from his YouTube channel and Feastables food brand. But despite bringing in revenue between $600 million and $700 million each year, Donaldson says he's not rich. His massive channel has 239 million subscribers, and his videos regularly get well over 100 million views. "Each video does a couple million in ad revenue, a couple million in brand deals," he told Time Magazine this week, which noted that brands pay between $2.5 million to $3 million for a shout-out in a video. "I've reinvested everything to the point of—you could claim—stupidity, just believing that we would succeed," he said.

Persons: Jimmy Donaldson, Donaldson, he's, doesn't, it's Organizations: YouTube, Time, New York

☆ AI is changing the cybersecurity industry. Why these two stocks look best positioned to capitalize
▼ + stars: | 2024-02-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

"As we move to cloud and generative AI, it opens up massive total addressable markets, where security just has to be done a different way." Palo Alto Networks and CrowdStrike have already surged more than 25% each only six weeks into the new year after proving among the best performers in the Nasdaq-100 in 2023. But arguably, companies offering all-in-one solutions to mounting cybersecurity threats are viewed as sitting in the most advantageous position. PANW YTD mountain Palo Alto Networks in 2024. This leading position is one reason Deepwater Asset Management's Doug Clinton retains a stake in Crowdstrike, along with Palo Alto Networks, in the core fund that he manages.

Persons: Ted Mortonson, Baird, Mortonson, Peter Weed, Bernstein, Morgan Stanley, Hamza Fodderwala, Hendi Susanto, Doug Clinton, JPMorgan's Brian Essex, CRWD, Essex, Michael Bloom Organizations: MGM Resorts, Caesars Entertainment, Microsoft, Palo Alto Networks, Nasdaq, Gamco Locations: cyberattacks, Palo, Crowdstrike

☆ 7 sex tips from a couple married for 42 years — including a lingerie budget and non-sexual intimacy
▼ + stars: | 2024-02-14 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +9 min

Rita Smith, 62, and her husband, Theodore Smith, Sr., 64, have been married for over 40 years. They shared their best sex tips, from investing in lingerie to bonding outside the bedroom. Rita Smith, a happily married 62-year-old woman, is here to dispel that myth. DROP THE TIKTOK LINKSSmith met her husband, Theodore Smith Sr., now 64, when they were in high school in New Orleans, Louisiana. Even after Theodore leaves for work, Rita said they call each other and talk all the time.

Persons: Rita Smith, Theodore Smith, —, Smith, lacy, Babe, ” Smith, Theodore Smith Sr, Rita, Theodore, endometriosis, “, ” Theodore, Bryan Tarnowski, ”, Smiths, ” Rita, ” Bryan Tarnowski, whisks, he’ll, ’, me, ’ ” Organizations: Service, Smiths, Invest Locations: New Orleans , Louisiana, ”

☆ Russia can sustain war effort ‘for another two or three years,’ say analysts
▼ + stars: | 2024-02-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +6 min

While this has meant trading “quality for quantity,” Russia has also been able to manufacture new vehicles. The authors concluded Russia could sustain its current rate of attrition for up to three years and maybe longer. Total military spending now represents one third of its national budget and will reach about 7.5% of GDP, signaling the focus on its war effort,” Giegerich said. Alexander Ermochenko/ReutersThe Royal United Services Institute (RUSI), another think tank, published its own report this week on Russia’s shifting military objectives and capacity. The report said Russia will seek to achieve its objective in three stages.

Persons: ” “, Mike Johnson, ” Bastian Giegerich, ”, Ukraine’s, ” Giegerich, Alexander Ermochenko, Kyiv “ Organizations: CNN, Ukraine “, Institute for Strategic Studies, West, United States Senate, NATO, European, Pentagon, “, Reuters, Royal United Services Institute, Russian, Services, Kyiv Locations: Russia, Ukraine, Ukraine’s, “ Russia, Olenivka, Donetsk region, Ukrainian, “

☆ History, by and of Women
▼ + stars: | 2024-02-14 | by ( Amanda Taub | ) www.nytimes.com time to read: +1 min

This week, I’ve been spending time in what I’ve come to think of as the Anne de Courcy extended universe. De Courcy, a British journalist and prolific author of popular history books, writes about the past through the stories of women of the era. But she often uses groups of lesser-known (though usually still very rich) women to tell the story of particular periods or events. “The Fishing Fleet” chronicles British colonialism through a group of women who were both privileged and oppressed. As young women, they faced lives of poverty and isolation if they did not manage to marry, and legal and social subjugation even if they did, thanks to the repressive patriarchal system of the time.

Persons: I’ve, Anne de Courcy, De, Diana Mosley, Coco Chanel, “ Debs, ”, Irene, Cynthia, Alexandra Curzon, Curzon, Mosley, Cynthia’s, Oswald, Chanel, Alexandra, Duke of Windsor Organizations: British, Marvel Locations: De Courcy, British, India

☆ With a low cocoa supply, this Valentine’s Day chocolate prices are up
▼ + stars: | 2024-02-12 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

Rising cocoa prices aren’t the only concern for customers this Valentine's Day. Last Thursday, Hershey Co. said it would cut 5% of its workforce after historic cocoa prices and inflation-weary consumers dampened fourth quarter earnings. “And it looks like it’s not necessarily going to subside anytime soon.”The Supreme Valentine’s Day SweetRoughly 92% of Americans say they plan to share chocolate and candy for Valentine’s Day this year, according to the National Confectioners Association. In 2023, Valentine’s Day chocolate and candy sales exceeded $4 billion, the NCA says. Issaka said that while high demand and low supply raise prices, cocoa farmers are getting squeezed.

Persons: ”, Michele Buck, Billy Roberts, ” Roberts, Lindsey Nicholson, Marnie Ives, Ives, ” Ives, “ It’s, Karl Schneider, Roberts’s, Issifu, Issaka, ” Issaka, “ I’m, Cote, Will Kletter, Sabi Ibarra Guerrero, Uwe Gneiting, Gneiting, Joke Aerts, Aerts, ” Aerts, Sia Kambou, Price, Tony’s, “, they’ve, CNN’s Eva Rothenberg Organizations: CNN, Hershey Co, National Confectioners Association, NCA, Cocoa, Oxfam America, Getty, Fairtrade, Cote d’Ivoire, “ Locations: West Africa, North America, Manhattan, Queens , New York, Neck, NY, Bloomfield , NJ, Ghana, North Region, Cote d’Ivoire, Silicon, Africa, Accra, Cote, Hermankono, AFP

☆ I quit my dream job at 32 and spent $34,000 to travel the world—here are my 4 biggest regrets
▼ + stars: | 2024-02-09 | by ( Helen Zhao | ) www.cnbc.com time to read: +4 min

I was 28 years old when I landed my dream video producer job at CNBC. After all, I'd spent most of my adult life focused on the future. So I quit my job at 32, bought a one-way ticket to Peru, and spent a year and a half — and $34,000 — exploring 18 countries across South America and Asia. I spent a lot of my life savings, delaying other goalsThe $34,000 I spent on my sabbatical was a significant portion of my life savings. Siem Reap, Cambodia Helen ZhaoI wish I'd continued investing throughout my travels, putting $200 each month into a large-cap index fund.

Persons: I'd, Helen Zhao, I'm, Roth, Cambodia Helen Zhao Organizations: CNBC, UCLA, Roth IRA Locations: Peru, South America, Asia, Rio De Janeiro, Buenos Aires, Argentina, Brazil, Rio, Bogotá, Colombia, Los Angeles, Siem Reap, Cambodia

☆ After Its $20 Billion Windfall Evaporated, a Start-Up Picks Up the Pieces
▼ + stars: | 2024-02-08 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

On Dec. 18, a $20 billion deal by Adobe, the software giant, to buy Figma, a San Francisco start-up darling, fell apart after more than a year of regulatory scrutiny. In a blog post that day, Dylan Field, Figma’s chief executive and co-founder, painted an optimistic picture of what would come next. Behind the scenes, the start-up, a design platform, is picking up the pieces. In recent weeks, Figma said it had reset its internal valuation to $10 billion — half of what Adobe planned to pay for it. Figma is also grappling with a tech industry that has been changed by a frenzy over artificial intelligence.

Persons: Dylan, “, ”, Figma, Michael Amodeo Organizations: Adobe Locations: San Francisco

☆ Average credit card balances jump 10% to a record $6,360 as more consumers fall behind on payments
▼ + stars: | 2024-02-08 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Americans now owe $1.13 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. In that case, credit cards are one of the most expensive ways to borrow money. The average credit card charges a record-high 20.74%, according to Bankrate. Millennials increasingly lean on creditStill, consumers often turn to credit cards, in part because they are more accessible than other types of loans. How to tackle credit card debt

Persons: Ted Rossman, Cardholders, Wise, that's Organizations: Federal Reserve Bank of New Locations: Federal Reserve Bank of New York, TransUnion

☆ The chief strategist at Citi Global Wealth shares his top growth investments for a resilient economy in 2024 — including his highest-conviction commodity that will triple its demand by 2030
▼ + stars: | 2024-02-07 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Inflation was certainly severe and very troubling for markets, but ultimately its sources were transitory, Wieting said. As other energy-based companies and commodities grapple with a transition to clean energy, copper is expected to reap the benefits. The transition to clean energy and the move toward electric vehicles means demand for copper will triple by 2030, according to Citi Global Wealth's 2024 outlook. He believes the Magnificent Seven will be a strong part of the economy going into 2024 once again. Therefore, investors should look for opportunities in mid-cap growth or those within the S&P 400, the benchmark for the US mid-cap stocks.

Persons: Steven Wieting, Wieting Organizations: Federal, Citi Global Wealth, Business, Housing, Citi Global

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Persons: You've, It's, You'll, We'll, you'll Organizations: Business, Venture, Business †, you've, Ink, Chase Travel, FDIC, Express, American Express, Dell Technologies, Adobe, American, Capital, One, Amex, FedEx, Grubhub, Supply, Walmart, Best, Dell, Air Canada Aeroplan, British Airways Executive Club, Marriott Bonvoy, Chase, Finance, — Locations: AmexTravel.com, U.S, Chevron

☆ Hosting the Super Bowl could be a $1 billion jackpot for these 4 cities
▼ + stars: | 2024-02-04 | by ( Cork Gaines | ) www.businessinsider.com time to read: +2 min

The estimated economic impact of recent Super Bowls in host cities has surged to over $1 billion. AdvertisementThe Super Bowl is heading to Sin City for the first time, and a lot of money is coming with it. The city typically sees about $300 million in gross economic impact during Super Bowl weekends. But this isn't the first time a Super Bowl has brought billions to a host city. According to Applied Analysis, this year's Super Bowl is expected to create 6,433 new jobs and $282 million in salaries and wages.

Persons: —, Jeremy Aguero, Aguero Organizations: Vegas, Service, Las, Las Vegas Convention, Visitors Authority, Business, Super, Arizona State University Locations: Sin City, Las Vegas, Vegas, Glendale , Arizona

☆ Can groundhogs or other animals predict the weather?
▼ + stars: | 2024-02-02 | by ( Jackie Wattles | ) edition.cnn.com time to read: +8 min

CNN —Punxatawney Phil, the central character of the annual rite of winter known as Groundhog’s Day, isn’t great at his job. Education Images/Universal Images Group/Getty ImagesThe Old Farmer’s Almanac has aggregated a couple dozen adages about insects, animals and their ability to predict weather patterns. Researchers in Germany also looked into whether various species of animals could detect an oncoming earthquake. Fact vs. folkloreOther tropes about animals’ ability to predict seasonal conditions, however, are wrong. But in reality, the “caterpillar’s coloring is based on how long (the) caterpillar has been feeding, its age, and species,” according to the National Weather Service.

Persons: CNN —, Phil, isn’t, Theresa Crimmins, phenology, ” Crimmins, “, ”, it’s, Max, Gordon Miller, ” Miller, Crimmins, Miller, Rachel Carson Organizations: CNN, National Phenology, United States —, USA National Phenology Network, University of Wisconsin -, Max Planck Society, Dolbear’s, Oceanic, Administration, Seattle University, National Weather Service Locations: United States, Germany, University of Wisconsin - Madison, North America, Mendota Heights , Minnesota, Tennessee

☆ Men benefit more from their looks at work than women do, new research shows
▼ + stars: | 2024-02-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

New research upends the trope that women use their looks to get ahead in their careers, showing that men actually reap greater benefits from being attractive in the workplace. A recent study of more than 11,000 Americans conducted over 20 years has found that good-looking men are more likely to attain better jobs and make more money than similarly attractive women. Alexi Gugushvili and Grzegorz Bulczak recorded participants' demographic information and socioeconomic status, then asked volunteers to rate the participants' physical attractiveness on a 4-point scale: Very attractive, attractive, unattractive, and very unattractive. Even with potential obstacles like coming from a low-income household or growing up in a dangerous neighborhood, attractive men still managed to achieve upward mobility. Good-looking women had a slight advantage in their careers over other women deemed less attractive, but men saw the greatest benefits from their physical appearance, according to the report.

Persons: Alexi Gugushvili, Grzegorz Bulczak, Bulczak, it's Organizations: University of Oslo, Polish Academy of Sciences, Adolescent Health

☆ Bitcoin could stay rangebound for several weeks more but Solana is poised for a breakout, says Wolfe Research
▼ + stars: | 2024-02-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin investors have high hopes for 2024 given the cryptocurrency's almost too-good-to-be-true setup , but they may have to wait a few weeks more for its next big ascent, according to Wolfe Research. BTC.CM= 1M mountain Bitcoin ended the month of January flat and is poised for more weakness, says Wolfe Research. "A breakout does not look likely in the near term. "Solana and other altcoins have come on strong in recent months and likely continue that outperformance near term." Ginsberg said the tokens tied to Cardano and Avalanche are also set to rise in the near term, and Chainlink could be poised for a breakout.

Persons: bitcoin, Wolfe, it's, Rob Ginsberg, Solana, Ginsberg, We're, they're, — CNBC's Michael Bloom Organizations: Wolfe Research, Solana, Securities and Exchange Commission, Avalanche Locations: U.S, bitcoin

A trio of lawsuits filed in state court in Las Vegas seek unspecified damages from TikTok, Snapchat and Meta Platforms, the owner of Instagram, Facebook and Messenger, on claims including deceptive trade practices and negligence. The lawsuits were filed just ahead of testimony in Congress on Wednesday by top executives of Meta, TikTok, Snap Inc. and other platforms. John Sadler, a spokesperson for Ford, declined to say whether the Nevada lawsuits were timed to coincide with the congressional hearing. But Sadler acknowledged the decision to file the cases in state court instead of joining other states in federal court follows a path the state took in opioid damages claims. “Social media platforms are a bottomless pit where users can spend an infinite amount of their time,” Nevada said in the Snapchat complaint.

Persons: Aaron Ford, Michael Hughes, “, Ashley Adams, ”, Meta, Mark Zuckerberg, Republican Sen, Josh Hawley's, ” Zuckerberg, John Sadler, Sadler, Snapchat, Mike Brooks Organizations: LAS VEGAS, —, Facebook, Meta, Inc, Republican, Ford, Democrat, Little, “ Locations: Las Vegas, TikTok, Nevada, California, Las Vegas , Dallas, Little Rock , Arkansas, ” Nevada

☆ These smaller stocks could see big gains in 2024, Bank of America says
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Against this backdrop, Bank of America on Monday released a list of best small- and mid-cap ideas for 2024. Strategist Jill Carey Hall added that this year's basket of 31 stocks has average 12-month potential upside of 29%, and is slightly tilted towards value stocks over growth. Shares of Bath & Body Works have trailed the market, rising 2.4% in 2023 and 0.4% so far in 2024. Bank of America also named United Airlines one of its top SMID ideas for 2024. Other names on Bank of America's list of SMID picks included e-commerce retailer Wayfair and aircraft leasing company Air Lease .

Persons: That's, Russell, Jill Carey Hall, Lorraine Hutchinson, Hutchinson, BofA, Geoff Meacham, Lou Gehrig's, Meacham, CyberArk, Tal Liani, Liani, Max, Andrew Didora, UAL, Didora, — CNBC's Michael Bloom Organizations: Wall, Bank of America, Monday, Body, Pharmaceuticals, TAM, United Airlines, Boeing, Bank of, Air Lease Locations: U.S, Amylyx, cybersecurity, CY26, Chicago

☆ Lenders are bailing out of commercial real estate as a wave of debt builds
▼ + stars: | 2024-01-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Roughly $2.1 trillion of debt connected to commercial real estate assets, including office properties, apartment buildings, hotels, and retail spaces, will come due between now and the end of 2025 in the US, according to the real estate services firm JLL. The wave of maturities and the enormous equity shortfalls have raised concerns that a growing number of commercial real estate debts will fall into distress, forcing banks and other lenders to suffer losses. His group tracked about $15 billion of commercial property debt sales during the year, roughly three times the volume from 2022. Commercial real estate loans differ from residential mortgages taken by homeowners in that most are interest-only or pay down their principal balance minimally and span a decade or less. More banks are exploring loan salesBanks and other lenders generally aren't eager to seize the real estate assets that collateralize their debt.

Persons: Jerry, Stephen Scouten, Piper Sandler, it's, Kevin Aussef, Aussef, David Tobin, Marcus, Millichap, Synovus, Tobin, David Frosh, they're, Frosh, Fitch, David Blumberg, we'd, Blumberg, Daniel Geiger, Rob Verrone, Banks, You've, Bliss Morris, Morris Organizations: Amerant Bank, Business, Banking, CIBC, Mission, PacWest, HSBC, Fidelity, Funding Inc, Blackstone, Bloomberg, Broadway, Aon Center, 601W Companies, Iron Hound Management, First Financial Locations: Coral Gables , Florida, Houston, Canadian, Brookfield, Los Angeles, Columbus, Manhattan, Midland, Chicago, Oklahoma City, New York

☆ Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit
▼ + stars: | 2024-01-28 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

In 2018, Anna-Lisa Miller was working with agricultural cooperatives in Hawaii, helping them reinvest in their communities through shared ownership. Then she came across an investor presentation from a different universe: KKR, one of the world’s largest private equity firms. In it, a KKR executive, Pete Stavros, discussed a model he had been developing to provide employees with an equity stake in companies it purchased, so the workers would reap some benefits if it was flipped for a profit. By that time, Mr. Stavros had decided to start an organization to promote his model more broadly, hoping to reach the 12 million people who work for companies that private equity firms own. Ms. Miller saw it as a way to move much faster.

Persons: Anna, Lisa Miller, Miller, Pete Stavros, Stavros Organizations: Project Equity, KKR, KKR doesn’t Locations: Hawaii

☆ Spotify CEO Daniel Ek says Apple's new App Store changes are a 'new low'
▼ + stars: | 2024-01-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Spotify chief executive Daniel Ek is unhappy about Apple's proposed App Store changes . Spotify chief executive Daniel Ek said in an X post on Friday that Apple's changes represent a "new low, even for them." Under Apple's new changes, apps with over one million downloads will need to pay a "core technology fee" for "each first annual install per year." Apple's App Store change not only falls short of that ideal, but "mocks the spirit of the law and the lawmakers who wrote it," Ek said. AdvertisementThe good news for him is that Apple's new changes aren't set in stone until they pass muster with the EU.

Persons: Daniel Ek, Apple's, Apple, Ek, —, — Daniel Ek, he's, doesn't Organizations: Spotify, Service, Apple, Digital, EU, European Union

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