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Over the past year, Wall Street's largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. MS YTD mountain Morgan Stanley YTD AI use cases for key businesses Morgan Stanley was among the first on Wall Street to publicly embrace the technology, unveiling two AI assistants for financial advisors powered by OpenAI. Launched in September 2023, the AI @ Morgan Stanley Assistant gives advisors and their staff quick answers to questions regarding the market, investment recommendations, and various internal processes. If it does, that would be welcome news for shareholders after Morgan Stanley's wealth segment missed analysts' revenue expectations in the second quarter . However, As long as these costs don't outweigh return on investment (ROI), we're happy with Wells Fargo and Morgan Stanley's moves to innovate.
Persons: Goldman Sachs, Morgan Stanley, Wells, JPMorgan Chase — ramped, Jamie Dimon, Alexandra Mousavizadeh, OpenAI's ChatGPT, Jeff McMillan, Morgan, McMillan, It's, Morgan Stanley's, Evident's Mousavizadeh, Banks, Mousavizadeh, Tracy Kerrins, Morgan Stanley's McMillan, He's, Morgan Stanley's OpenAI, Teresa Heitsenrether, Jim Cramer's, Jim Cramer, Jim Organizations: Bank of America, JPMorgan, Citi, Microsoft, Nvidia, OpenAI, CNBC, Google, Deutsche Bank, BNP, Mistral, TD Bank Group, Big, Wall, New York Stock Exchange, Bloomberg, Getty Locations: Wells Fargo, Silicon, management's, Wells, New York
BOSTON — A Massachusetts man has been sentenced to 18 months in prison for threatening to kill a group of Asian Americans and repeatedly hitting one of them with his car. “This defendant targeted this man solely because he was Asian American. He yelled “go back to China” and threatened to kill them before repeatedly hitting one of them, a Vietnamese man, with his car. There had been a dramatic spike in verbal, physical and online attacks against Asian Americans and Pacific Islanders since the start of the coronavirus pandemic, which was thought to have originated in China. “There are bad people who do bad things and good people that do a bad thing,” the attorney wrote in the sentencing memorandum.
Persons: John Sullivan, Kristen Clarke, , Sullivan, , China ”, Jodi Cohen, ” Cohen, “ Jack Sullivan, Jack Organizations: BOSTON, Justice Department’s Civil Rights, American, Justice Department, Prosecutors, Asian Americans, Pacific Islanders, FBI, FBI Boston Field Office, NBC Asian Locations: A Massachusetts, Quincy, China, Massachusetts, NBC Asian America
Hemant Taneja, the CEO of top venture firm General Catalyst, cofounded the healthcare startup Commure in 2017, and launched it in 2020. AdvertisementIt's made six acquisitions in four years — a remarkable number for a healthcare startup. He hatched Commure inside General Catalyst in 2017 alongside former leaders from Google, Salesforce, and healthcare data analytics firm Health Catalyst. The Philadelphia-based health system co-created a startup with General Catalyst, patient engagement platform Tendo, in 2020. General Catalyst said HATCo will work closely with its more than 20 health system partners, including HCA Healthcare.
Persons: Hemant Taneja, Catalyst, PitchBook, Commure, It's, Augmedix, He's, Tyler Le, Taneja, Livongo, Teladoc, Glen Tullman, Ashwini Zenooz, CommureOS, Tanay Tandon, Rusty Russell, Strongline, Tandon, didn't, General Catalyst, it's, Axios, he's, HATCo, GABRIELLA AUDI, wasn't, Hemant Organizations: Catalyst, Business, Catalyst's, Google, NASDAQ, Jefferson Health, Healthcare, HCA Healthcare, Athelas, SMP Labs, SMP, Commure, BI, FCC, Labs, Strongline Pro, Strongline, Northern District of, Canopy, General, Health, Healthcare Assurance Transformation Corporation, Summa Health, Olive AI, Augmedix, HCA, Getty, Big Tech, Commure's Locations: Livongo, Philadelphia, Commure, PatientKeeper, Athelas, Strongline, Northern District, Northern District of California, Ohio, Augmedix
Walmart is taking dollar stores’ customers
  + stars: | 2024-09-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +6 min
Dollar Tree also owns the long-struggling Family Dollar chain. While dollar stores once expanded to reach a growing number of financially strapped Americans, they underestimated just how financially strapped many Americans would become. “They missed the fact in tough times the consumer would be looking for consumables.”Meanwhile, Dollar Tree has been weighed down by its purchase of Family Dollar. Earlier this year, Dollar Tree announced that Family Dollar will close more than 900 stores, and it subsequently said it will explore a sale or spinoff of Family Dollar. In previous times of financial stress, Dollar General has seen middle-income and slightly more affluent households trade down into Dollar General to save money.
Persons: Michael Lasser, , Todd Vasos, Vasos, Mike Creedon, aren’t, “ They’re, ” David D’Arezzo, , ” Neil Saunders, Organizations: New, New York CNN, Walmart, UBS, Dollar General, Dollar, CNN, Target Locations: New York
A group of Amazon delivery drivers hold a labor strike at the DAX7 Amazon Sortation Center in South Gate. Amazon should be considered a "joint employer" of some of its contracted delivery drivers, a regional director for the National Labor Relations Board said Wednesday. Amazon has fought to avoid being designated as a joint employer of its sprawling network of contracted delivery companies. Over the past year, the Teamsters has stepped up its efforts to organize Amazon delivery and warehouse workers. Since then, it's led a number of strikes at Amazon delivery facilities, while a labor group at an Amazon warehouse on New York's Staten Island opted to affiliate with the Teamsters in June.
Persons: it's, Kayla Blado, litigating Organizations: Amazon Sortation, National Labor Relations Board, NLRB, Amazon, MJB Logistics, Teamsters Locations: South Gate, Atlanta, Palmdale , California, New, Staten, Palmdale
Luis Di Como, Unilever's global media head, will leave the company after 33 years. Di Como is the company's executive vice president of global media and global head of media for Unilever's beauty and well-being division. He oversees the company's global media budget. In 2023, the company spent about 8.5 billion euros, or about $9.4 billion, on marketing, which included investments in media, ad production, and promotion. According to the latest figures from the Ad Age Datacenter, it was the ninth-biggest global ad spender in 2022.
Persons: Luis Di Como, Di Como's, Selina Sykes, Isabel Massey, , Como, spender Organizations: Service, Unilever, Business
New York CNN —The US Securities and Exchange Commission fined six major credit rating organizations a total of $49 million for their “significant failures” to keep electronic communications. Moody’s Investor Services and S&P Global Ratings agreed to pay the heftiest fines, a $20 million civil penalty each. Fitch Ratings agreed to pay $8 million, A.M. Best Rating Services agreed to pay $1 million, HR Ratings de México, S.A. de C.V. $250,000, and Demotech agreed to pay $100,000, respectively. That included an associate managing director making off-channel comments about credit rating clients. “Moody’s is fully committed to upholding our regulatory record-keeping obligations, and we are pleased to put this matter behind us,” a Moody’s spokesperson said in a statement.
Persons: Demotech, , Sanjay Wadhwa, A.M, Demotech “, Fitch, México, Organizations: New, New York CNN, US Securities and Exchange, Moody’s Investor Services, Fitch, S.A, SEC, Services, P Global, CNN Locations: New York, SEC’s
Reinhard parted ways with previous ad sales leader Peter Naylor in July, in Netflix's second ads leadership shake-up in two years. To get a sense of how Reinhard is approaching the hire, Business Insider spoke with 11 people who had inside knowledge about the search or who are close to Netflix's ad business. Others with those credentials who some insiders think could be in the mix include Pooja Midha, EVP and GM for Effectv, the ad sales arm of Comcast's cable division. "They view ad sales as having a lack of rigor and discipline," the first person who'd had conversations with Netflix said. Netflix also shook up its ad sales leadership twice, with its first ads leader Jeremi Gorman being replaced after a year, and then with Naylor's recent exit.
Persons: , Amy Reinhard, Reinhard, Peter Naylor, Lisa Valentino, WBD's Ryan Gould, Jim Keller, Pooja Midha, who'd, Naylor, Dimitrios Kambouris, Greg Peters, Peters, hadn't, Jon Whitticom, Whitticom, Netflix's, Jeremi Gorman, they're Organizations: Service, Madison, Business, Netflix, Warner Bros, Disney, Effectv, Hulu, Google, Big Tech, Insiders, Prime, Microsoft, Street Journal, NFL Locations: Madison
Read previewUpdate: After this article was published, Paramount Global confirmed to Business Insider that the company had sold VidCon to Informa. Paramount Global is selling its creator conference VidCon to the UK media and events company Informa, according to two people familiar with the matter. They spoke to Business Insider on the condition of anonymity as they were not allowed to discuss details around the deal. Adding VidCon, which centers on social-media stars rather than Hollywood and comic-book talent, could help broaden the fan base and advertiser roster of its events business. BI was unable to learn the terms of the VidCon deal between Paramount and Informa.
Persons: , VidCon, Informa, YouTubers Hank, John Green, São Paulo, Green, lanyards, Phillips, Adweek, David Ellison's Organizations: Service, Paramount Global, Business, Toronto Comicon, Cannes Lions, Paramount, Viacom, SXSW, Disney, Media, BI Locations: Anaheim , California, Baltimore, Mexico City, Anaheim
A worker prepares packages at an Amazon same-day delivery fulfillment center on Prime Day in the Bronx borough of New York, US, on Tuesday, July 16, 2024. Amazon.com Inc.'s Prime Day sales rose about 13% in the first six hours of the event compared with the same period last year, according to Momentum Commerce, which manages 50 brands in a variety of product categories. But the company's Amazon Web Services division was not reporting any technical issues while the checkout feature wasn't working. In the run-up to the long weekend in the U.S., Amazon has started promoting discounts on products as part of a Labor Day sale. Amazon has warned investors that technical incidents can lead to lower sales and a worse perception of the company's products and services.
Persons: Stephanie Keith, X, Mark Mahaney, Uber Organizations: Amazon.com Inc, Momentum Commerce, Bloomberg, Getty, Web Services, Amazon, Labor Locations: Bronx, New York, U.S
LONDON — Uber and British artificial intelligence startup Wayve announced a partnership Thursday that will see the two firms collaborate on autonomous driving technology. As part of the deal, Uber is also investing an undisclosed amount into Wayve for a minority stake, the companies said in a statement. He said that, together with Uber, Wayve is "excited to work with Automotive OEMs [original equipment makers] to bring autonomous driving technologies to consumers sooner." In the future, Uber intends to launch self-driving vehicles on its app equipped with Wayve's tech, the companies said. Uber has also offered rides in vehicles operated by Waymo, the Google self-driving spinoff, as part of a commercial tie-up.
Persons: Uber, Alex Kendall, Wayve's, Dara Khosrowshahi, Khosrowshahi, Cruise, Waymo Organizations: Uber, Nvidia, Microsoft, Automotive, SAE International, Aurora Technologies, General Motors, Waymo, Google, Lyft Locations: British, ., Aurora
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn March, Ziad Ahmed and Shaina Zafar made headlines when they sold their marketing agency, Juv Consulting, to United Talent Agency. Juv was known among many US-based influencers and brands as the "go-to expert on Gen Z", one creator told Business Insider. This story is available exclusively to Business Insider subscribers. AdvertisementFor the first time, Ahmed and Zafar share a peek into their work schedules as they grow UTA's Next Gen.
Persons: , Ziad Ahmed, Shaina Zafar, Juv, Ahmed, Zafar, ​ ​, it's Organizations: Service, Juv Consulting, United Talent Agency, influencers, Business, UTA Locations: America
Read previewA Colorado man was rescued after getting stranded overnight on a 14,230-foot mountain during a work retreat, local authorities said. Related storiesBy 9 p.m., Chaffee County Search and Rescue South said it had been alerted and activated two teams, a drone pilot, and a helicopter. Chaffee County Search and Rescue South posted this image from the search. Chaffee County Search and Rescue SouthBut just as those groups set out, the man regained cell service and managed to make a 911 call, the search and rescue team wrote. The man told rescuers he'd fallen more than 20 times and ended up in a gully, unable to get up.
Persons: , Shavano, Danny Andres, he'd Organizations: Service, Business, Employees, Industry Locations: Chaffee County, Chaffee
After I told him I didn't know any of them, he said they'd investigate and help me clear my name. But because I was a suspect, I needed to send daily updates about my whereabouts and activities to ensure I didn't flee. He agreed the next day but said I needed to send money for collateral to ensure I didn't escape while he was representing me. I feel like I'm the scammer because I scammed my family, in a sense, by lying to them. But it said sometimes clients neglect warnings, lie about the purposes of withdrawals, and proceed with the transactions anyway.
Persons: Wannapa Suprasert, I'd, Wannapa, they'd, scammers, , didn't, I'm, they're, haven't, Suprasert Organizations: Thai Embassy, police, Thai Consulate, Central Investigation Bureau, Thai, Hong Kong, Bank of, FBI, San Francisco police, Bank of America, Business, Bank, Royal Thai Embassy Locations: Thailand, San Francisco, Washington , DC, Bangkok, Washington ,, American, LA, Hong, Hong Kong
"I'm really passionate about changing the support around the sport," Richard told CNBC in an interview after the Olympics ended. That content hopefully is not only driving more eyeballs to the men's gymnastics, but participants as well. Men's gymnastics consistently lags in popularity behind women's at the collegiate level, where meets are regularly televised, and at the international level. There are only 12 Division I NCAA Men's Gymnastics programs, and more are at risk of cuts. "I don't think it's ever been a situation where that many people are watching men's gymnastics … and left feeling like it was worth it."
Persons: Frederick Richard, medaling, Richard, Kevin Harts, Dwayne, Simone Biles, women's Organizations: Paris Olympics, CNBC, University of Michigan, NBC, Paris Games, USA, AP, NCAA, NBC Olympics Locations: TikTok
QB Tiers rangesTier Tier 1 Tier 2 Tier 3 Tier 4 Movement Moved down Moved up New to Tiers Not in '23 Tiers Same tier Expand all Collapse all Loading Try changing or resetting your filters to see more. Photo: Ryan Kang / Getty Images Tiers over time Annual votes by tier Tier 1 Same tier 2 Joe Burrow Bengals Cincinnati 2024 Tier Voting Avg. Photo: Kathryn Riiley / Getty Images Tiers over time Annual votes by tier Tier 3 Same tier 18 Deshaun Watson Browns Cleveland 2024 Tier Voting Avg. Photo: Cooper Neill / Getty Images Tiers over time Annual votes by tier Tier 3 Same tier T20 Geno Smith Seahawks Seattle 2024 Tier Voting Avg. Photo: Chris Unger / Zuffa LLC / Getty Images Tiers over time Annual votes by tier Tier 4 Same tier T26 Anthony Richardson Colts Indianapolis 2024 Tier Voting Avg.
Persons: Patrick Mahomes, Lamar Jackson, Jordan Love, San Francisco 49ers ’ Brock Purdy, Houston Texans ’ C.J, Stroud, Mahomes, , Toney, , Tom Brady, , He’s, Brady, Ryan Kang, Joe Burrow, Burrow, Kirk Cousins, he’s, Cooper Neill, Josh Allen, Allen, Joe, Sam Howell —, Trevor Lawrence, Kathryn Riiley, Lamar, Jackson, Todd, Monken, Patrick Smith, Matthew Stafford, Stafford, recommitment, “ He’s, Matt Stafford, Sean, Rey Del, Justin Herbert, Herbert, “ Herbert, Aaron Rodgers, Jim Harbaugh, “ Harbaugh, I’ve, Rodgers, Achilles, it’ll, Tom Brady’s, Bobby Slowik, , Tim Warner, Prescott, Drew Brees, Ben Roethlisberger’s, Dan Marino, Peyton Manning, “ Dak, Jared Goff, It’s, Goff, “ They’ve, they’ve, Tua Tagovailoa, “ Goff, I’m, Junfu, Shane Steichen, Tua, Kellen Moore, Jason Kelce, Brock Purdy, Purdy, Colin Kaepernick, “ Purdy, it’s, “ I’m, Kurt Warner, ” Warner, Brock, Kyle Shanahan, Shanahan, Cousins, Kirk, ” Cousins, Michael Penix Jr, Michael Penix, Kevin C, Cox, ” Love, Squeaking, Mike McDaniel, Kyle Shanahan’s, ” Purdy, Tagovailoa, “ Tua, Lawrence, ” Lawrence, Lawrence —, I’d, Perry Knotts, Kyler, Murray, ‘ Kyler Murray, ” Murray, Marvin Harrison Jr, Deshaun Watson, Watson, Ken Dorsey, ” Watson, Nick Cammett, “ Baker, Baker, Mayfield, Mike Evans, moxie, Nic Antaya, Derek Carr Saints, Carr, Jon, Gruden, “ Gruden, Derek Carr, Smith, Russell Wilson, “ Trevor Lawrence, Justin Fields, Geno Smith, Wilson, Pete Carroll, Sean Payton, Mike Tomlin, Tomlin, “ Tomlin, Payton, Russ, Let’s, Joe Sargent, Daniel Jones, Jones, “ I’ve, Drew Lock, Daniel Jones ’, Malik Nabers, DK Metcalf, Jacoby Brissett, Peter Joneleit, Justin, you’ve, Justin K, Seattle’s Smith, “ Nobody, “ Gardner Minshew, Minshew, Aidan O’Connell, Chris Unger, Anthony Richardson, Richardson, marveled, Cam Newton, ’ ”, “ Shane Steichen, “ Richardson, Shane, Todd Rosenberg, ” Levis, “ I’ll, Carson Wentz, Mac Jones, Frank Reich, Dave Canales, Bryce Young, David Jensen, Sam Darnold, Darnold, J.J, McCarthy, Kevin, I’ll, ” Darnold, Stephen Maturen, Brissett, Kevin Stefanski, “ Jacoby, Alex Van Pelt, Drake Maye, Jaiden, David DeChant, Marc Mazzoni, Dan Goldfarb, John Bradford, Skye Gould, Ray Orr, Amy Cavenaile Organizations: NFL, Baltimore Ravens, Green Bay Packers, San Francisco 49ers, Houston Texans ’, Patrick Mahomes Chiefs Kansas, 0pts, Voters, Philly, Super, Chiefs, EPA, Joe Burrow Bengals, Burrow, , Josh Allen Bills Buffalo, Lamar Jackson Ravens, Ravens, Kansas City, Matthew Stafford Rams, Stafford, Rams, Rey Del Rio, Justin Herbert Chargers, Chargers, Aaron Rodgers Jets, Rodgers, Jets, . Stroud Texans, Stroud, Baltimore, Texans, Dak Prescott Cowboys, Niners, Packers, Cowboys ’, Prescott, , Jared Goff Lions, Eagles, Alabama, College Football, Brock, Brock Purdy 49ers San Francisco, 1.2pts, 49ers, Detroit, Purdy, Kirk Cousins Falcons, Falcons, Atlanta, Jordan Love Packers, Dallas, Green Bay, Cowboys, Tua Tagovailoa Dolphins, Miami, AFC East, Trevor Lawrence Jaguars Jacksonville, Jaguars, Kyler Murray Cardinals, Cardinals, Murray, Deshaun Watson Browns, Browns, Cleveland, Baker Mayfield Buccaneers Tampa, ” Voters, Derek Carr Saints New, Mayfield, NFC, Saints, Buccaneers, Geno Smith Seahawks Seattle, Seattle, Russell Wilson Steelers Pittsburgh, of Fame, Steelers, Daniel Jones Giants New, Giants, Justin Fields Steelers, Bears, Gardner Minshew Raiders, Indy, Colts, Minshew, Raiders, Anthony Richardson Colts, Health, Levis Titans, Titans, Levis, Bryce Young Panthers Carolina, Panthers, Jacoby Brissett Patriots, Patriots, Getty Images, USA Locations: San Francisco, Baltimore, Mahomes, Burrow, Matthew Stafford Rams Los, Tier, Justin Herbert Chargers Los, Green Bay, Stroud, , what’s, USA, Oklahoma, Cleveland, Atlanta, Jackson, Lawrence, Kyler Murray Cardinals Arizona, Arizona, Houston, Derek Carr Saints New Orleans, Seattle, Pittsburgh, Wilson, Denver, Cam, Levis, Carolina, Sam Darnold Vikings, New York, Minnesota, New England
The Education Department is assuring schools and students that its financial aid process is under control, after a botched overhaul over the past year that some colleges say has dented incoming classes. Education Secretary Miguel Cardona has vowed that the FAFSA process is being improved after recent missteps. I want to close up [the] Department of Education, move education back to the states. In May, Cardona announced a “full-scale review” of the Federal Student Aid office that oversees FAFSA and promised “transformational changes” at the division. I’ve taken a college and career readiness class from my high school, but it all sounded really confusing,” she said.
Persons: Miguel Cardona, he’s, We’ve, miguel cardona, “ We’ve, ” Cardona, , Peter G ., NAICU, couldn’t, ” Mark Becker, Donald Trump, disburses Pell, ” Trump, Elon, Cardona, “ We’re, they’re, ” “, falloff, Beth Maglione, Hanalise Yarbrough, Kristi Childs, Kristi Childs Kristi Childs, Childs, Mason Yarbrough, , ” Childs, Hanalise, John Jay, she’s “, I’ve, who’s “ Organizations: Department, Education, Federal Student Aid, NBC News, National Association of Independent Colleges, Universities, Education Department, Association of Public, Grant Universities, Department of Education, Republican, Federal, Aid, College, Network, National Association of Student Financial, Madison, Northwest Mississippi Community College, John, John Jay College of Criminal Locations: U.S, DeSoto County , Mississippi, New York City
With a stiff gait, a drone dog stomped up and down a makeshift minefield at a U.S. Army testing center in Virginia, shuddering when it neared a plate-size puck meant to simulate an anti-tank explosive. On its back was a stack of cameras, GPS devices, radios and thermal imaging technology that military developers hope will help it detect mines at close range, sparing humans from that dangerous task. For the most part, the dog appeared to know when to stay away from the mock mine, given the artificial intelligence embedded in its system to identify threats. “That’s something we’re working on currently.”The drone dog is among a handful of emerging technologies in anti-mine warfare — a field that, until now, experts say had not changed much in the past 50 years. But just as drones, which are generally defined as uncrewed machines, not exclusively aircraft, that are piloted remotely, have proved in Ukraine to be an important offensive weapon in modern fighting, they now may also provide defense, with new and safer ways to detect and clear land mines.
Persons: ” Kendall V, Johnson, Organizations: U.S . Army, Development Command Locations: Virginia, shuddering, Washington, Ukraine
In fiscal 2022 and 2023 combined, Disney's experiences unit, which houses the parks, generated 67.5% of the company's operating income. That represents a significant deceleration in growth from its first and second quarters, when operating income rose 8% and 12%, respectively. Nispel argued that negative sentiment around Disney's theme parks performance could be a reason to have less conviction on the stock in the near term. The more excitement around its movies, the more interest in everything from theme parks to streaming services to branded merchandise. Operating income, in particular, rose more than $350 million year over year to $254 million.
Persons: that's, Disney, we're, Jim Cramer, Jeff Marks, amortization —, Brandon Nispel, Nispel, Bob Iger, Goldman Sachs, Goldman, Jim, Romulus, King, KeyBanc's Nispel, Jim Cramer's, Mickey Mouse, Minnie Mouse, Gary Hershorn Organizations: Disney, Magic, Club, Magic Kingdom, DIS, Comcast, CNBC, KeyBanc, Universal, Americas, , Hulu, ESPN, Walt Disney World, Corbis, Getty Locations: California, Florida, Magic, Orlando , Florida, Orlando, Animal Kingdom
Here are some of their top tips for getting a good night's rest. Consider these 5 signs you might need a sleep divorceA sleep divorce is not as drastic as it sounds. Try a sleep expert's bedtime routineDr. Richard Schwab, chief of the division of sleep medicine at the University of Pennsylvania Perelman School of Medicine, shared his sleep routine with Make It in 2022. To get optimal sleep, Schwab recommended setting the ambience in your room by making sure it's your preferred temperature and light exposure. "Before taking magnesium or melatonin for sleep, it's important to establish proper sleep hygiene and habits."
Persons: Shelby Harris, Harris, Snore, Richard Schwab ,, Schwab, Rebecca Robbins, Robbins Organizations: CNBC, University of Pennsylvania Perelman School of Medicine, Harvard Medical School's Division, Sleep
Reuters —Cruise will offer its autonomous vehicles on Uber’s platform starting next year, the companies said on Thursday, as the General Motors-backed robotaxi firm attempts a comeback. The multi-year partnership will allow Uber riders to choose a trip using a Cruise autonomous vehicle, they said. Uber’s partnership with Cruise comes as Tesla CEO Elon Musk is set to unveil its delayed plans for a robotaxi product in October amid slowing demand for electric vehicles. Commercializing autonomous vehicles has been tougher than expected and taken longer than promised due to complex technology, soaring investments, tight regulatory scrutiny and federal investigations. Trips by self-driving vehicles on Uber’s platform rose six-fold in the June quarter year-on-year, helped by partnerships with companies including Waymo, as well as startup Waabi for freight services.
Persons: Reuters — Cruise, Uber, Alphabet’s, Cruise, Elon Musk, Dara Khosrowshahi Organizations: Reuters, General Motors Locations: Phoenix, U.S, San Francisco
Hailed as Britain's Bill Gates, Lynch sold Autonomy, his groundbreaking data-management company, to Hewlett-Packard for $11 billion. Shareholders and business commentators were puzzled about what HP, a hardware company, would do with Autonomy, a software company — and why the latter was worth $11 billion. A year after the acquisition, HP wrote down $8.8 billion of the purchase value and accused Lynch of lying about Autonomy's finances. Lynch said HP stifled Autonomy with mismanagement and bureaucracy that pushed out employees and stymied sales. "This verdict closes the book on a relentless 13-year effort to pin HP's well-documented ineptitude on Dr. Lynch," Morvillo said in a joint statement with his attorney colleague Brian Heberlig.
Persons: , Mike Lynch, Bill Gates, Lynch, Sushovan Hussain, Stephen Chamberlain, Chamberlain, Chris Morvillo, Léo Apotheker, Apotheker, Meg Whitman, James B, Stewart, Time Warner, Bryn Colton, Hussain, hadn't, Henry Nicholls, David Cameron, Cameron, Lynch —, Whitman, Apotheker's, Robert Hildyard, Hildyard hadn't, wasn't, that'd, Guglielmo Mangiapane Morvillo, Morvillo, Brian Heberlig, Angela Bacares, Hannah, Charles Morvillo Organizations: Service, Autonomy, Hewlett, Packard, HP, Business, Cambridge University, Cambridge, Oracle, Adobe, Cisco, Shareholders, New York Times, Time, FBI, Deloitte, Telegraph, The New York Times, KPMG, US Justice Department, Justice Department, High Court, REUTERS, BBC, British Museum, Politico, The Times, Times, Bacares Locations: San Francisco, London, California, Kenya, Sicily
Read previewGetting a job at Goldman Sachs is even harder than Havard, according to its CEO. In an episode of "The David Rubenstein Show," CEO David Solomon revealed that of over 300,000 applications last year for entry-level jobs out of undergraduate university, the bank hired around 2,500 people — less than 1%. AdvertisementWhile he listed off more classic desirable traits — people who are hardworking, smart, and "believe in excellence" — Solomon emphasized tenacity. In a letter to their 2024 summer internship cohort, Solomon advised them to "embrace your unique skills and experiences." AdvertisementThe investment bank received a record-breaking 315,126 applications for its 2024 internship program, admitting only 2,700 spots — slightly less than 0.9%.
Persons: , Goldman Sachs, Havard, David Rubenstein, David Solomon, Solomon, — Solomon, Rubenstein, Goldman, Robbie Stankard Organizations: Service, Business, Colombia University
New York CNN —Billionaire investor Carl Icahn and his firm Icahn Enterprises have settled charges for failing to disclose pledges of the company’s securities as collateral for billions of dollars in personal loans, US regulators said Monday. The investigation came after a report from short-seller Hindenburg Research sent shares in Icahn’s investment firm spiraling last year. Hindenburg wrote that “Icahn has been using money taken in from new investors to pay out dividends to old investors. The Securities and Exchange Commission said Icahn, who partially inspired Wall Street villain Gordon Gekko in the 1987 film “Wall Street,” pledged up to 82% of shares in his companies to secure billions of dollars of margin loans — but failed to disclose those details. “Hindenburg’s modus operandi, which is to publish scurrilous and unsupported allegations, did damage to IEP and its investors,” Icahn said Monday.
Persons: Carl Icahn, Hindenburg, “ Icahn, , Icahn, Gordon Gekko, Osman Nawaz, ” Icahn, Organizations: New, New York CNN, Icahn Enterprises, Hindenburg Research, Forbes, The Securities, Exchange Commission, SEC, Division’s, Unit Locations: New York, Beach , Florida
Read previewA Missouri woman was arrested Friday in connection to a scheme to defraud Elvis Presley's family by stealing their interest in Graceland and trying to extort them for millions of dollars. Lisa Jeanine Findley, 53, faces charges of mail fraud and aggravated identity theft, federal prosecutors in Missouri said. Keough had sued a company that claimed it owned the rights to Graceland, and a judge ruled in Keough's favor in May. AdvertisementFindley posed as three different individuals from a fictitious lender called Naussany Investments, prosecutors said Friday. She then falsely claimed that Lisa Marie Presley had borrowed $3.8 million from Naussany in 2018, putting up Graceland as collateral, but never repayed the debt, prosecutors said.
Persons: , Elvis Presley's, Lisa Jeanine Findley, Presley's, Riley Keough, Lisa Marie Presley, Keough, Findley, Lisa Marie Presley's, Nicole M, Argentieri, Presley, Keough —, Daisy Jones Organizations: Service, Business, Naussany Investments, Prosecutors, Department's Locations: Graceland, Missouri, Memphis, Keough's, Naussany, Los Angeles, Tennessee, Nigerian, Nigeria, Kansas City , Missouri
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