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☆ Elon Musk says there could be a 20% chance AI destroys humanity — but we should do it anyway
▼ + stars: | 2024-03-31 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

He estimates there's a 10-20% chance AI could destroy humanity but that we should build it anyway. An AI safety expert told BI that Musk is underestimating the risk of potential catastrophe. AdvertisementElon Musk is pretty sure AI is worth the risk, even if there's a 1-in-5 chance the technology turns against humans. "One of the things I think that's incredibly important for AI safety is to have a maximum sort of truth-seeking and curious AI." Musk said his "ultimate conclusion" regarding the best way to achieve AI safety is to grow the AI in a manner that forces it to be truthful.

Persons: Elon Musk, —, Elon, recalculated, Geoff Hinton, Yamploskiy, Musk, Sam Altman, Hinton Organizations: Service, Cyber Security, University of Louisville, New York Times, Summit, Independent, CNN, Business

☆ Investors say underperforming Alphabet is a buying opportunity as it rights its AI missteps
▼ + stars: | 2024-03-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Alphabet needs to correct its artificial intelligence flubs and prove its monetization potential if it hopes to renew investors confidence. GOOGL YTD mountain Alphabet shares this year "There's uncertainty around the moat," said Jamie Meyers, an analyst at Laffer Tengler Investments. "It's an opportunity that is meaningfully underestimated by investors given everything that's happened," said Deepwater Asset Management's Gene Munster. Using the pullback as an opportunity Many investors, however, are finding the positive in Alphabet's recent troubles for their portfolios, and using the recent stock performance as a buying opportunity. Laffer Tengler's Meyers also noted that Alphabet's advantage in personal data, strong user base and dominant market position could give them and edge in AI once they correct their mistakes.

Persons: giant's, Jamie Meyers, It's, They're, Alphabet's, Gene Munster, OpenAI, Dan Hanson, Neuberger Berman, They've, Michael Sansoterra, they're, Hanna Howard, Brad Gerstner, CNBC's, Laffer Tengler's Meyers, Deepwater's Munster Organizations: Microsoft, Meta, Nvidia, Investments, Google, Investors, Silvant Locations: Munster

☆ America's 'deskless' hourly wage workers will reveal the most about how AI changes jobs
▼ + stars: | 2024-03-30 | by ( Rachel Curry | ) www.cnbc.com time to read: +7 min

In that majority lies a pressing question: How will the introduction of artificial intelligence impact hourly workers? 'Deskless workers' and technologyRegardless of the perspective, hourly workers and the people who manage them are actively seeking technology solutions to help streamline their workflow. For example, robotics-enabled sorting and small item picking is infiltrating the logistics industry, which is traditionally staffed by hourly workers on the warehouse floor. "This will be the decade of hourly workers that are focused on delivery of services that require human touch," she said. One thing that hourly workers, like all workers, aim for is a sense of meaning on the job.

Persons: Silvija Martincevic, Doug Hammond, Hammond, Martincevic, haven't, isn't, packer —, —, there's Organizations: Bureau of Labor Statistics, Industries, Randstad USA, Hardware, Bros, Organisation for Economic Co Locations: upskilling

These are accusations that the Justice Department leveled against a technology giant it accused of running an illegal monopoly. But they aren’t from this week’s antitrust lawsuit against Apple — they’re from the case the department brought against Microsoft in 1998. And federal prosecutors are explicitly connecting the Apple lawsuit to that earlier fight. “They’re really presenting this case as a successor to that: Microsoft 2.0,” said Gus Hurwitz, a senior fellow at the University of Pennsylvania Carey Law School. And it isn’t clear whether the Justice Department will be able to achieve here what it claims to have done by suing Microsoft.

Persons: Apple —, Department’s, Clinton, “ They’re, ”, Gus Hurwitz Organizations: Justice Department, Apple, Microsoft, Google, University of Pennsylvania Carey Law School

☆ A notorious stock-market bear who called the 2000 and 2008 declines warns that conditions are 'consistent with the risk of an abrupt air-pocket, panic, or crash' — and the S&P will fall 50%-70%
▼ + stars: | 2024-03-23 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Hussman FundsThese levels indicate the S&P 500 is likely to return around -5% annualized over the next 12 years, according to Hussman's math. AdvertisementBy the time the current market cycle bottoms out, the S&P 500 could well have fallen by 50%-70%, Hussman said. He predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 33% over the past year.

Persons: —, John Hussman's, Hussman, he's, we've, Jeremy Grantham, Grantham, There's, David Rosenberg, Merrill Lynch's, Gary Shilling Organizations: Service, Hussman Investment Trust, Business, Exchange, Federal Locations: Miami

☆ China keeps on finding ways to hurt USA Inc
▼ + stars: | 2024-03-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Beijing has asked domestic EV companies to ramp up spending with local chip makers, per Bloomberg. It has bruised Tesla too, as it battles for market share with domestic EV makers competing on price. AdvertisementApple, for instance, generated almost 20% of its revenue from sales in China last year. Nvidia reported $10.3 billion in revenue from China for its last fiscal year, up from $5.8 billion the year prior. Chinese EV makers like BYD are being asked to buy chips locally instead of from US firms.

Persons: —, Tesla, BYD, Orin, Fabrice Coffrini Organizations: Bloomberg, Service, China's Ministry of Industry, Information Technology, Huawei, Publishing, Getty, Nvidia Locations: China, Beijing, BYD, Hangzhou, chipmakers, Chinese, AFP

☆ Why ether's high price could be at risk despite strong supply and demand outlook
▼ + stars: | 2024-03-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The Ethereum network successfully completed its "Dencun" upgrade on Wednesday, which is meant to help it become faster and cheaper to use. The price of ether has been trading lower since then, which was expected based on the cryptocurrency's behavior following previous tech upgrades. "High activity on the Ethereum network has caused high transaction fees and, consequently, more fees burnt," Julio Moreno, CryptoQuant's head of research, said in a note Wednesday. High transaction activity causes network fees to spike, more fees being burnt and total supply to decrease." They're hoping that the combination of increased activity and the decrease in the supply of ether over time will push the token's price higher.

Persons: CryptoQuant, Julio Moreno, CryptoQuant's, William Ogden Moore Organizations: ETH, They're, bitcoin, Securities and Exchange Locations: Dencun, Solana, U.S

☆ A TikTok ban could be terrible news for Apple and Tesla
▼ + stars: | 2024-03-15 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

China could retaliate against Apple and Tesla via brand damage campaigns or stifling local ops. AdvertisementA potential TikTok ban in the US could spell trouble for Apple, Tesla, and other American companies operating in China. And on Wednesday, China's foreign ministry warned TikTok ban attempts would "eventually backfire on the US." Deepwater Asset Management managing partner Gene Munster told Business Insider he believes a TikTok ban has a 25% chance of materializing. In a world where there is a TikTok ban, Munster said, "Chinese leadership could expand its anti-iPhone campaign beyond the government."

Persons: TikTok, —, Gene, Munster, Dan Ives, Tesla Organizations: Apple, Service, Asset Management, Gene Munster, Business, Wedbush Securities, BI, Wynn Resorts, Las Vegas Sands, Texas Instruments, IPG Photonics, Financial Times, Huawei Locations: China, United States, Las Vegas, Qualcomm, Munster, —

☆ Steven Mnuchin says he's putting together a group to try and buy TikTok
▼ + stars: | 2024-03-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Former Treasury Secretary Steven Mnuchin said on Thursday that he's exploring assembling a group of investors to purchase TikTok, an attempt to assuage US national security concerns that the popular social media app should not be under Chinese ownership. It's a great business, and I'm going to put together a great group to buy TikTok," Mnuchin said during an interview on CNBC's "Squawk Box." Mnuchin, breaking with former President Donald Trump, said he supported a House bill that could force a ban on the popular social media app. While the bill explicitly mentions TikTok, the legislation could also apply to future companies. Trump's White House, led in part by Mnuchin, kicked off the US effort to ban the social media app.

Persons: Steven Mnuchin, It's, Mnuchin, Donald Trump, Joe Biden, Trump, Jeff Yass, Kellyanne Conway, let's Organizations: Service, Lawmakers, Politico, Trump White House, Club, Growth Locations: TikTok's Beijing, ByteDance, Yass

☆ India banned TikTok overnight but 200 million people learned to live without it
▼ + stars: | 2024-03-14 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

On Wednesday, the US House of Representatives passed a bill that could lead to a nationwide TikTok ban. While the Chinese-owned app is not disappearing from Americans’ phones anytime soon, many of its 170 million users in the country are deeply rattled. “[Former] US Secretary of State Mike Pompeo had welcomed the ban, saying it ‘will boost India’s sovereignty.’”While India’s abrupt decision shocked the country’s 200 million TikTok users, in the four years since, many have found other suitable alternatives. Within a week of the ban, Meta-owned Instagram cashed in by launching its TikTok copycat, Instagram Reels, in India. According to Ray, Indian content creators swiftly moved all the old content they had shot for TikTok to Instagram Reels and YouTube Shorts.

Persons: TikTok, ”, Nikhil Pahwa, Mike Pompeo, TikTokkers, Saptarshi Ray, Instagram, Moj, Ray, Clyde Fernandes, Vivan Sharan, ” Sharan, “ Organizations: New, New Delhi CNN, India, Google, YouTube, Oxford, Advisory Locations: New Delhi, United States, India, China, Delhi, American, Bengaluru, Opraahfx, Beijing

☆ I’m addicted to TikTok. What do I do now that the House has effectively voted to ban it?
▼ + stars: | 2024-03-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

The bill would prohibit TikTok from US app stores unless the social media platform is quickly spun off from ByteDance. Some TikTok users posted videos ahead of Wednesday’s vote showing them calling their representatives and threatening to vote for alternate candidates if they voted to pass the bill. “This process was secret and the bill was jammed through for one reason: it’s a ban,” a TikTok spokesperson said in a statement following the Wednesday House vote. That may be even more true after Biden’s likely opponent in November, former President Donald Trump, said he opposed a TikTok ban, a reversal from his stance as president. App stores that violate the legislation could be fined based on the number of users of a banned app.

Persons: …, Princess, Wales, TikTokkers, ByteDance, Chuck Schumer, “, ”, Dick Durbin, Joe Biden, ” Durbin, Donald Trump, TikTok, Dan Ives Organizations: New, New York CNN, Foreign, House Energy, Commerce, Senate, Apple, Google Locations: New York, ByteDance, It’s, Montana, United States

☆ The Princess of Wales is in the spotlight — for not being in the spotlight
▼ + stars: | 2024-03-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 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 the curious case of Kate Middleton's edited photo that's got the internet buzzing. The big storyPrincess problemsChris Jackson/Getty Images; Ian Vogler - WPA Pool/Getty Images; Chelsea Jia Feng/BIA picture is worth a thousand words. AdvertisementBut this time around, it's the Princess of Wales in the spotlight… for not being in the spotlight. She explained away the issue by saying she does "occasionally experiment with editing," but plenty of people weren't buying it .

Persons: —, we've, Kate Middleton's, that's, Chris Jackson, Ian Vogler, Chelsea Jia Feng, hasn't, Prince Andrew , Duke, York, Prince Harry, Meghan Markle, Duke, Duchess of Sussex, Wales, Kate, Insider's Kwan Wei Kevin Tan, Mikhaila Friel, Kensington, Kensington Palance, Patrick Witty's, Patrick, Kate Middleton, King Charles, Mikhaila, Easter, Katie Notopoulos, BI's Hasan Chowdhury, Beatrice Nolan, Chris Gash, Stephanie Pomboy, Max, Aravind Srinivas, Nvidia's, Artur Debat, Eric Boyd, Joe Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Royals, JPMorgan, Anadolu, Apple, Meta, New York Times, Tesla, Microsoft, OpenAI, International Brotherhood of Teamsters Locations: London, Kensington, British, China, Georgia , Mississippi, Washington, New York

☆ China is teaching the likes of Apple and Tesla a very painful business lesson
▼ + stars: | 2024-03-11 | by ( Hasan Chowdhury | Lina Batarags | ) 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 turn, sentiment toward Western business has soured. It's no wonder US companies that once banked on this being the "Chinese century" are having to learn a very painful lesson about doing business in China. According to The Wall Street Journal, a directive known as Document 79 is being ramped up to push out Western companies. AdvertisementHow Western companies respond will be closely watched, as China remains too valuable to lose a hold of.

Persons: —, Apple's, Tesla, Gene Munster, Wang Gang, Muster, BYD, It's, John Keeble, Li Qiang, Suzanne Clark Organizations: Service, Business, Research, Apple, Getty, Shanghai gigafactory, Bloomberg, China's Passenger Car Association, Deepwater Asset Management, Huawei, Volkswagen, Reuters, National People's Congress, Wall Street, US Chamber of Commerce Locations: China, Beijing, Shanghai

☆ A '$28 trillion opportunity': Ark Invest reveals its top AI plays right now
▼ + stars: | 2024-03-11 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Ark Invest — which has a particular focus on innovation — is invested in segments including autonomous vehicles, drones and robotics, energy storage, 3D printing, and space exploration through its Ark Autonomous Tech & Robotics ETF (ticker ARKQ). Autonomous cars: A $28 trillion opportunity Autonomous cars is one area related to AI that Keeney is "particularly excited about." "Autonomous cars are already driving in major cities today across the globe. Autonomous drones: A 'very hot topic' Beyond automakers, Keeney is looking to ride the autonomy wave through opportunities in drones. Keeney emphasized that drone technology can transcend military use cases and be applied across industries.

Persons: Tasha Keeney, CNBC's, Tesla, Keeney, — Organizations: Ark Autonomous Tech, Robotics ETF, Invest, Defense, Security Solutions, Walmart, Google Locations: Mar

☆ Biden projects a vision of strength that’s been missing from his presidency but will be needed in 2024 campaign
▼ + stars: | 2024-03-08 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

And in the most important moment of the 2024 election campaign so far, Biden appeared to succeed. “President Biden is clearly not on his A-game and I think that’s a charitable way to describe it. Republicans complain Biden politicized a great state eventSome Republicans faulted the president’s delivery and said he mistook loudness for strength. And in his speech on Thursday, Biden was advocating a different kind of strength – one rooted in democracy rather than in trying to destroy it. That debate about two vastly different visions of the meaning and the soul of the country will decide the fates of both Biden and Trump come November.

Persons: Joe Biden, Donald Trump, Biden, — Biden, Trump, ”, “, ” Biden, ” Trump, —, Alabama Sen, Katie Britt, Mike Johnson, ” Johnson, he’s, genuflecting, autocrats, Ronald Reagan’s, Mikhail Gorbachev, Putin, ’ ” Biden, Xi Jinping’s, hale, George W, Bush’s, Ari Fleischer mused, Dan Crenshaw, Rush Limbaugh, –, Viktor Orban, Orban cozies, Orban, CNN’s Betsy Klein, I’ve, let’s Organizations: CNN, State, Representatives, GOP, Republicans, Capitol, Trump, ”, Union, Alabama, Republican, Democratic, Republican National Convention, America, Biden Locations: Trump, Florida, year’s State, Ukraine, Russian, Xi Jinping’s China, China, Texas, American, Hungarian, Mar

☆ US military developing portable UFO detection kits as Pentagon says no evidence of alien tech found
▼ + stars: | 2024-03-08 | by ( Oren Liebermann | ) edition.cnn.com time to read: +3 min

CNN —The US military is developing portable UFO detection kits to collect better data on reports of sightings as the Pentagon says there is no evidence of alien technology found in any government investigation. The AARO office looked at US government investigations and efforts related to UFOs dating back to 1945. Some of the reported sightings of UFOs were people who unknowingly witnessed the testing or use of classified US technology. The AARO office is also collecting and investigating new reports and sightings of unidentified objects. In February, the office closed 122 cases, Phillips said, most of which was debris in the atmosphere.

Persons: Timothy Phillips, AARO, ” Phillips, Phillips, there’s, Sean Kirkpatrick, “, ” Organizations: CNN, Pentagon, United, United States Government Locations: Texas, Roswell , New Mexico, United States, China

☆ With Super Tuesday over, China and Xi may be praying for Trump to beat Biden
▼ + stars: | 2024-03-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

With Super Tuesday setting the US up for a Biden-Trump rematch, it looks like China has no good choices. But a rising perspective among experts on China posits that Beijing has good reason to hope Trump retakes the White House. Both President Joe Biden and Trump are expected to continue their aggression toward China, with Biden locking away US tech exports and Trump more recently threatening a 60% tariff on Chinese goods. Whichever way Beijing is betting, it's hard to say which man its preferred pick would be. AdvertisementWith close-to-clean sweeps across the board on Super Tuesday, both Biden and Trump are now all but confirmed to be their respective parties' nominees.

Persons: Trump, —, Xi Jinping, Donald Trump, Joe Biden, Biden, Chengxin, Pan, MAGA, skittish, Stanley Rosen, Agathe Demarais, Demarais, shelve, China that's, it's, Ian Ja Chong, they're Organizations: Biden, Trump, Service, China, Associated Press, University of Macau, University of Southern California's China Institute, geoeconomics, European Council, Foreign Relations, Foreign Policy, National University of Singapore, White Locations: China, Beijing, Shanghai, Ukraine, Russia, New York

☆ Apple hit with landmark $2 billion EU antitrust fine
▼ + stars: | 2024-03-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The European Union has fined Apple €1.84 billion ($2 billion) for breaking its competition laws. The bloc announced Monday that it would impose the fine — its first-ever antitrust penalty on the US tech giant — for preventing rival music streaming services such as Spotify from telling iPhone users that they could find cheaper ways to subscribe outside of Apple’s app store. The European Commission opened a formal antitrust investigation into Apple in 2020 after Spotify (SPOT) lodged a complaint against Apple the previous year, accusing it of unfairly disadvantaging its competitors. It said Apple required the Swedish music streamer and other content providers to pay a 30% fee on purchases made through Apple’s in-app payment system, while its own service, Apple Music, didn’t have to pay the fee. Spotify also said Apple prevented it from sharing information about subscription deals with customers who use iPhones.

Persons: Margrethe Vestager, ” Vestager Organizations: London CNN, European Union, Apple, Spotify, European Commission, Apple Music, Digital Markets, Big Tech Locations: Apple’s

☆ Stocks making the biggest moves after hours: Block, Carvana, Booking Holdings and more
▼ + stars: | 2024-02-22 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Intuit — Shares pulled back roughly 1% after the financial software company posted revenue of $3.39 billion in its fiscal second quarter. The result was in line with what analysts polled by LSEG had expected. Block — Shares of the payment company soared nearly 11% on the heels of a fourth-quarter revenue beat. Carvana posted a fourth-quarter loss of $1 per share on revenue of $2.42 billion, missing the estimates of analysts polled by LSEG. Operating income, excluding items, came in at $572 million, while analysts polled by FactSet called for $668.5 million.

Persons: LSEG, Block, Carvana, MercadoLibre, FactSet Organizations: Intuit —, Holdings, Booking Holdings, LSEG Locations: London, England

☆ A renowned market bear who called the dot-com bubble warns concentration in tech stocks now exceeds levels seen just before the 2000 crash — and cautions that the sector's earnings are not keeping up
▼ + stars: | 2024-02-17 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

For example, the tech sector’s valuations are generally lower than they were then, though still elevated. One is that the fundamentals of the tech sector are detached from its price action. While the sector’s earnings have performed better than the rest of the market on average, earnings expectations have been rising faster than actual subsequent earnings performance. Many parallels between the dot-com bubble and today’s market have been called to light in recent weeks. Only time will tell if tech stocks are in a bubble that's due to burst.

Persons: Albert Edwards, “, ” Edwards, Edwards, Michael Hartnett, Jeffrey Schulze, Adam Karr, ”, Quincy Krosby, Hartnett Organizations: Societe Generale, Nasdaq, Business, Generale, Bank of America, Orbis Investment Management, Artificial Intelligence, LPL Financial Locations: Japan

☆ Chinese tech startups quietly stop testing driverless cars on Californian roads
▼ + stars: | 2024-02-14 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Read previewChina’s leading ride-hailing firm has dropped out of a program that allows it to test self-driving vehicles on Californian public roads. Ride-hailing giant Didi has withdrawn from California’s autonomous vehicle testing program, according to the California Department of Motor Vehicles, as several rival Chinese firms also scaled back their self-driving operations in the state. Future Publishing/Getty imagesDidi is not the only Chinese company that appears to be scaling back autonomous vehicle testing in California, or pulling out entirely. That's a significant decline from the previous year, when Chinese autonomous vehicle companies conducted over 450,000 miles of testing. AdvertisementHe said that public backlash toward autonomous vehicles in cities like San Francisco had increased the risks of negative PR for companies testing the technology on public roads.

Persons: —, Didi, WeRide, AutoX —, That's, Sesame, Bob Latta, Cruise, that's, ” John Helveston, ” Helveston Organizations: Service, California Department of Motor Vehicles, Business, DMV, Baidu, Future Publishing, Pegasus Technology, NBC, Republican, Anadolu, Getty, George Washington University Locations: California, Shanghai, China, Jiaxing, San Francisco

Systems that let drivers take their eyes off the road and fully autonomous systems are coming in about two years. Shashua talked with The Associated Press about the next steps toward autonomous vehicles. A: When you talk about autonomous vehicles, what immediately comes in mind is Waymo, Cruise, robotaxis. Q: When do you see a lot of fully autonomous vehicles on the roads? The second story of an eyes-off system on highways is already in the works.

Persons: robotaxis, Amnon Shashua, Shashua, It’s, Uber, Mobileye Organizations: DETROIT, —, General Motors, Intel, Systems, Associated Press, Cruise, Volkswagen Locations: Arizona, San Francisco, Israeli, Los Angeles, China, Europe, U.S

☆ A notorious market bear who called the 2000 and 2008 crashes warns current market conditions are worse than in 99.9% of history — typically meaning stocks are ripe for a 10%-30% sell-off
▼ + stars: | 2024-02-10 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Read previewThe S&P 500 surpassed 5,000 for the first time on Friday, riding a wave of investor optimism about the health of the US economy. It's represented by the red line in the chart below, while the S&P 500 is shown in blue. Here's a chart from a regression analysis by Bank of America showing the impact that valuations have on long-term stock market returns. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 23% over the past year.

Persons: —, John Hussman, Hussman, It's, Tom Lee, Jeffrey Buchbinder, Adam Turnquist Organizations: Service, Hussman Investment Trust, Business, Hussman, Bank of America

☆ Storms in California hit homeowners already facing an insurance crisis
▼ + stars: | 2024-02-06 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The storms pummeling California this week hit a part of the US already being battered by a home insurance crisis. With insurers strained by climate change and inflation, many are demanding higher premiums, making it much harder to find affordable (or any) home and fire insurance. But it is not just California; homeowners in other areas prone to weather events like Florida, Louisiana, and Texas are also facing challenges. Meanwhile, in hurricane-battered Florida, Farmers Insurance deemed it too risky to continue insuring homes and pulled out of that market entirely. “This isn’t just climate change, it is climate-change-plus,” Bach said.

Persons: ”, Amy Bach, United, Michael Monaghan, Sellers, you’ve, Jennifer Branchini, Bach, Hurricane Andrew, ” Bach, mitigations Organizations: DC CNN, Allstate, Farmers Insurance, Coldwell, California Association of Realtors, National Oceanic, Atmospheric Administration, Hurricane, FAIR, California Department of Insurance Locations: Washington, California, Florida , Louisiana, Texas, San Francisco, California’s, Golden State, Florida, Vermont, Colorado, Pleasanton, United, “ Florida, Louisiana

☆ Stock futures are little changed ahead of busy week of corporate earnings: Live updates
▼ + stars: | 2024-02-04 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange during morning trading on January 31, 2024 in New York City. Stock futures were flat on Sunday evening as Wall Street looks to build on another positive week. Futures tied to the S&P 500 dipped less than 0.1%. Futures for the Dow Jones Industrial average ticked down 17 points, or less than 0.1%, while Nasdaq 100 futures slipped 0.1%. This week has another full slate of earnings, including McDonald's on Monday and Ford on Tuesday.

Persons: Jerome Powell, Tony Pasquariello, Goldman Sachs, Jake Sullivan Organizations: New York Stock Exchange, Stock, Dow, Nasdaq, Microsoft, Meta, Goldman, Ford, Tuesday, Traders, NBC Locations: New York City, U.S, Iraq, Syria, Iran

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