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Solari wasn't the only American to veer wildly between frugality and all-out spending sprees during the pandemic. In particular, younger people — Gen Z and millennials — have seen the early parts of their careers and critical years of their financial lives defined by the shifting sands of the pandemic economy. The strange pandemic-savings paradoxThe pandemic recession did not actually mean people had no money. The Fed found that the top quartile of earners added nearly $1.5 trillion to their savings through spending reductions, even as the pandemic consumed millennials and Gen Z's savings. If the mantra of the pandemic recession was giving everyday Americans money, the reaction is now to yank that back.

OAKLAND, California, March 28 (Reuters) - Artificial intelligence chip startup Cerebras Systems on Tuesday said it released open source ChatGPT-like models for the research and business community to use for free in an effort to foster more collaboration. Silicon Valley-based Cerebras released seven models all trained on its AI supercomputer called Andromeda, including smaller 111 million parameter language models to a larger 13 billion parameter model. Cerebras said the smaller models can be deployed on phones or smart speakers while the bigger ones run on PCs or servers, although complex tasks like large passage summarization require larger models. Most of the AI models today are trained on Nvidia Corp's (NVDA.O) chips, but more and more startups like Cerebras are trying to take share in that market. The models trained on Cerebras machines can also be used on Nvidia systems for further training or customization, said Feldman.

☆ A Delta passenger was arrested after he opened the plane door, activated the emergency slide, and slid down it as the plane was preparing for takeoff
▼ + stars: | 2023-03-27 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +2 min

A Delta passenger was arrested after he opened the emergency plane door right before takeoff. He slid down the emergency slide and later hopped onto a luggage cart. —New York Post (@nypost) March 26, 2023At around 10 a.m. Eastern Standard Time, the passenger pushed open the plane's emergency door and triggered the emergency exit slide, the Los Angeles Airport Police told CBS News. "Due to the circumstances, FBI has been notified," Los Angeles Airport Police Captain Karla Rodriguez said to CBS News. Representatives for the Federal Aviation Administration, the Los Angeles Police Department, and Delta did not immediately respond to Insider's requests for comment sent outside regular business hours.

☆ Fact Check-Viral clip shows tree catkins, not ‘rain of worms’ in China - scientists
▼ + stars: | 2023-03-17 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

A viral clip online likely shows the catkins, or flower spikes, of poplar trees covering cars in northern China, not a “rain of worms” as social media posts and some news reports have claimed, experts told Reuters. One tweet saying: “China citizens told to find shelter after it looked like it started to rain worms” has been viewed more than 18 million times at the time of writing (here). There can be thousands of poplar catkins per tree, Claire Thomas Federici, a botanist and plant geneticist at the University of California, Riverside (here), said by email. China has a “distinctively rich” variety of trees in the poplar family, particularly in northern China, according to the U.N. Food and Agriculture Organization (here), (here). Experts say the video from China likely shows catkins from poplar trees instead of a “rain” of worms or caterpillars.

☆ In the Whirl of ChatGPT, Startups See an Opening for Their AI Chips
▼ + stars: | 2023-02-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

Generative AI and large language models like OpenAI’s ChatGPT require massive amounts of computing power to run, and typically rely on chips like Nvidia’s graphics-processing units, or GPUs, that are specialized for these types of calculations. Graphcore sells primarily to AI startups looking to build and train models at lower cost, he said, and the company is benefiting from the proliferation of those startups. Shane Rau, who leads International Data Corp.’s semiconductor research, said chip startups are increasingly pivoting to focus their products on supporting large language models. Still, he added, “you’re going to see a combination of real adaptation and marketing.”“There will be the pressure to say: ‘Hey, we’re already relevant, our AI chip technology’s already relevant to generative AI’,” said Mr. Rau. Some chip makers say they expect yet another surge in demand once businesses more widely adopt generative AI.

☆ Digital video is set to top traditional TV this year. How Wall Street says to play it
▼ + stars: | 2023-02-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

As of Thursday's close, Netflix shares were up 9% year to date, while Disney , Paramount and Warner Bros. NFLX YTD mountain Netflix shares since the start if 2023 During the pandemic, the streaming industry challenged cable TV as customers cut the cord. Shares of Netflix struggled Thursday following a report from The Wall Street Journal that the company was cutting prices in over 30 countries. Disney represents another clear-cut behemoth in the space, and boasts one of the higher number of buy ratings on Wall Street. The Trade Desk is another advertising stock Wall Street is bullish on, with more than 60% of analysts giving a buy rating on the stock.

☆ Household budgets are shredded: These stocks will benefit as consumers trade down to store brands
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

Shoppers are largely creatures of habit, but after two years of rising prices, a broader shift to private label brands is underway. 'A tailwind' for private label That is good news for store brands, otherwise known as private label. Yet the biggest pure play on private label brands is Treehouse Foods , Chappell said. "That's where you're going to see them lean into store brands," said Mary Ellen Lynch, principal of IRI's center store solutions. Americans forced to trade down due to supply chain constraints found store brands they enjoyed, she said.

☆ Goldman Sachs says these stocks have major upside following earnings
▼ + stars: | 2023-02-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs analysts said this week there is a slate of stocks coming out of earnings that are just too attractive to ignore. CNBC Pro combed through Goldman Sachs' research to find the firm's top ideas for companies exiting quarterly reports. They include Tractor Supply, Charter Communications , Exxon Mobil , General Motors and Caterpillar. Tractor Supply The farm supply retailer continues to impress, according to Goldman analyst Kate McShane. The firm came away even more positive on the name after Tractor Supply's robust late January earnings report.

☆ ‘Today’ Co-Anchor Savannah Guthrie Lists New York Condo for $7.1 Million
▼ + stars: | 2023-01-30 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. “Today” show co-anchor Savannah Guthrie and her husband, strategic communications consultant Michael Feldman, are listing their New York apartment for $7.1 million.

A provision in the Inflation Reduction Act that allows Medicare to negotiate prices on the costliest prescription drugs each year will likely save the U.S. billions of dollars — as long as the drug industry doesn't interfere, according to a study published Friday in JAMA Health Forum. They identified 40 drugs that would have been selected by Medicare for drug pricing negotiation under the Inflation Reduction Act's provision. The researchers simulated negotiated prices by using a so-called ceiling price, which is at least 25% off the average price drug manufacturers charge to nongovernment entities, like private health insurance providers. The researchers found that the Medicare drug negotiation provision would have saved the U.S. $26.5 billion, or 5% of all drug spending, during those three years. It plans to release a list of the first 10 drugs it will target for drug pricing negotiation by September.

WASHINGTON — The Supreme Court on Monday belatedly issued the first ruling of its nine-month term that started in October, more than a month behind its normal schedule. Conservative Justice Amy Coney Barrett wrote the court's first opinion, with the justices ruling unanimously against Navy veteran Adolfo Arellano in a technical dispute over disability benefits. The court dismissed a second case concerning the scope of attorney-client privilege without issuing a written ruling. With the court term running from October to June, the first opinions are usually released in November or December. Adam Feldman, who tracks Supreme Court statistics, found that this term is the first since 1917 that the court had not released a ruling by the beginning of December.

☆ Amazon, Facing Questions Over Workplace Safety, Also Probed on Bank Dealings
▼ + stars: | 2023-01-21 | by ( Richard Vanderford | ) www.wsj.com time to read: +4 min

The office has deployed the 1989 law at the same time the Labor Department presses a workplace safety investigation of Amazon that has already led to several citations. The office also wants video surveillance footage of Amazon facilities and has served subpoenas to take testimony from Amazon employees, including high-level executives, according to Ms. Ahmad. Amazon in court papers in the case in Seattle said the information demands are “unrealistic” and the U.S. Attorney’s Office stretched to assert jurisdiction under Firrea. Any fraud case against Amazon would turn on whether the company had made misrepresentations to lenders and whether those misrepresentations impacted their decision-making, he said. A spokesman for the U.S. Attorney’s Office in Manhattan didn’t respond to a request for information on the identities of the financial institutions whose dealings with Amazon are under scrutiny.

☆ California has been hammered with rain. It may not be enough to reverse its drought.
▼ + stars: | 2023-01-12 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com time to read: +6 min

California counts on a system of about 1,400 human-made surface reservoirs and thousands upon thousands of miles of levees to manage surface water. During the recent storms, extreme drought has buffered some impacts of intense rainfall with plenty of space in the state’s largest reservoirs, which have withered under drought. Before the series of atmospheric rivers, it was storing less than 1 million acre-feet of water. In the Central Valley, Californians extract about 2 million acre-feet more than what returns to the ground, on average, every year, Lund said. California legislators in 2014 passed the Sustainable Groundwater Management Act, which requires local agencies to reach groundwater sustainability by 2042.

☆ Justice Ketanji Brown Jackson dominated oral arguments and challenged conservative thinking in her first months on the Supreme Court, observers say
▼ + stars: | 2022-12-26 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +10 min

Justice Ketanji Brown Jackson has sat on the Supreme Court for a little more than two months. The Supreme Court of the United States on Thursday, Oct. 6, 2022 in Washington, DC. Justices of the U.S. Supreme Court during a formal group photograph at the Supreme Court in Washington, D.C. on Friday, Oct. 7, 2022. Some court observers say oral arguments can potentially be an opportunity for justices to sway their colleagues' thinking – though that doesn't happen often. During the three hours of oral arguments, Jackson frequently threw cold water on the idea.

☆ Goth clowns, Ted Lasso, and Cold War: Twitter's trending topics from 2022 reveal pop culture fads alongside global political unrest
▼ + stars: | 2022-12-26 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

Software engineer Brian Feldman created an archive of topics that trended on Twitter this year. The project revealed themes of global political unrest alongside memes and pop culture trends. The list of 457 different trending topics each highlighted a moment that Twitter showed Feldman users commenting en masse about a singular topic. From "Adidas" to "Ted Lasso," the trending topics revealed pop culture fads and memes that moved Twitter users to conversation — and often argument — about their preferences and opinions. Internationally, trends like "Cold War," "Russian Warship," and "Taiwan" also demonstrated how political unrest is being felt around the globe.

☆ Divestitures could create dealmaking value in 2023, says Wharton's Emilie Feldman
▼ + stars: | 2022-12-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDivestitures could create dealmaking value in 2023, says Wharton's Emilie FeldmanEmilile Feldman, professor of management at the Wharton School of Business, joins 'The Exchange' to discuss creating shareholder value through divestitures, and using divestitures to generate liquidity and realigning business priorities.

☆ ChatGPT got all the buzz, but beneath it is a $1B developer framework that's quietly fueling the new era of lifelike AI at OpenAI and beyond
▼ + stars: | 2022-12-16 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +7 min

Beneath the buzz, the next-generation developer framework Ray was key in the viral model's training. "ChatGPT combined a lot of the previous work on large language models with reinforcement as well. Before deploying Ray, OpenAI used a hodgepodge set of custom tools built on top of "neural programmer-interpreter" model. All these tools, Ray and JAX included, are in service to a new generation of combustion engines for the internet called large language models. Multiple companies, both startups and giants, are building their own large language models including Meta, Hugging Face, OpenAI, and Google.

☆ Former Rep. David Rivera of Florida is arrested in Venezuela probe
▼ + stars: | 2022-12-06 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

David Rivera, a Republican who served from 2011 to 2013, was arrested at Atlanta’s airport, said Marlene Rodriguez, a spokesperson for the U.S. Attorney’s Office in Miami. To justify the large payments, PDV USA allegedly created “phony contracts” backdated to March 20, 2017 — the day before the consulting agreement took effect. Rivera’s consulting contract had all the hallmarks of a sham, according to PDV USA, which since 2019 has been run by directors appointed by the U.S.-backed opposition. Rivera never met in person with anyone from Citgo or PDV USA while supposedly working on its behalf. “The written record is bereft of any evidence that Interamerican performed any of the contracted services,” PDV USA argues in the new filings.

☆ The 11 most expensive cities in the world
▼ + stars: | 2022-12-06 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Singapore and New York are the most expensive cities among the 172 analyzed in the survey. 1 most expensive cities in a recent ranking from EIU. Feldman said it "can be seen due to expensive prices in groceries, personal care, domestic help, and fashion." On the other side of the US from New York, Los Angeles and San Francisco in California are considered expensive cities. Below are the most expensive cities per the new report.

☆ ‘Emerald City Nights: Live at the Penthouse’ by Ahmad Jamal Review: A Minimalist Pianist Lets Loose
▼ + stars: | 2022-12-01 | by ( Will Friedwald | ) www.wsj.com time to read: +1 min

“Ahmad is one of my favorites,” he told Hentoff in a different interview. “I live until he makes another record. For some, it was a distinct echo of when Louis Armstrong had spoken of his own love for Guy Lombardo a few decades earlier. What Davis—and since then, several generations of jazz players and listeners—loved most about Mr. Jamal becomes crystal clear in two new sets of live recordings from a Seattle nightclub being released on the Jazz Detective label. “Emerald City Nights: Live at the Penthouse 1963-1964” and “Emerald City Nights: Live at the Penthouse 1965-1966” have both been produced by Zev Feldman .

Nov 29 (Reuters) - Deal-hungry Americans snapped up everything from toys to electronics during the five-day long Thanksgiving through Cyber Monday shopping bonanza lured by steep discounts, sales data showed. Online toy sales on Cyber Monday jumped nearly eight-fold compared to an average day in October 2022, according to Adobe. Electronics sales rose about five-fold, while sporting goods, appliances and books also saw increases over 400%. Reuters Graphics Reuters GraphicsCyber Monday sales rose 5.8%, said Adobe, which analyzes purchases at 85% of the top 100 internet retailers in the United States. Overall global online sales for the cyber week hit an all-time high of $281 billion, according to data from Salesforce (CRM.N), while U.S. online sales gained 9% to $68 billion.

The estimate from Adobe Analytics predicts an increase of up to 8.5% from a year earlier. Adobe Analytics measures e-commerce performance by analyzing purchases at 85% of the top 100 internet retailers in the United States. Both Adobe and MasterCard Spending Pulse are expected to release their updated Cyber Monday spending estimates on Tuesday. Americans have put off holiday shopping for weeks in the hopes of finding deeper post-Thanksgiving markdowns. Last year, Cyber Monday sales fell 1.4%, according to Adobe Analytics, as retailers kicked off holiday promotions early to avoid product shortages amid a global shipping crisis.

Reuters GraphicsMelissa Benhaim, a 32-year old publicist in Miami, started her holiday shopping slightly later than usual this year. A Saturday shopping day between Thanksgiving and Christmas this year gives shoppers extra time to hold out for better bargains. Holiday shopping is expected to slow broadly. Reuters GraphicsBut toy prices, even with discounts, are up about 2.4%, DataWeave found. Shoppers are paying $16.99 for the toy this year at Kohl's, after discounts, compared to $11.54 last year, according to DataWeave.

☆ Fear is mounting that slumping retail earnings may fall lower still
▼ + stars: | 2022-11-17 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Another leg down for retail earnings? But it doesn't negate the main story for retailers this year: earnings estimates have been coming down hard since the summer. Beginning in June and July, analysts began aggressively cutting retail earnings estimates for the all-important holiday season. The assumption: the Fed's aggressive rate hikes would, by the end of the year, significantly slow consumer spending and likely start a recession. Indeed, yesterday's retail sales numbers were strong, and other recent reports by Mastercard also indicate the consumer is strong.

☆ Home Depot gives 'mixed signals' with quarterly beat, dim holiday view
▼ + stars: | 2022-11-15 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - Home Depot Inc (HD.N) tapped higher prices to override a drop in customer transactions for the third quarter and left its annual forecasts unchanged, signaling a weak holiday season amid a housing market slowdown. The fourth quarter will be the weakest of the year for comparable sales, it said, amid mounting uncertainties around the housing market. Home Depot saw customer transactions fall 4.3%, but higher prices of lumber, copper and other building materials helped drive average ticket - or the average amount of sales per customer - 8.8% higher, offsetting some pressure. Net earnings increased to $4.34 billion, or $4.24 per share, while analysts on average expected a profit of $4.12 per share. Shares of the company reversed course to gain about 2%, after Walmart Inc (WMT.N) raised its annual sales and profit forecasts, sending retail stocks higher.

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