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☆ More on the Stifled Hunter Biden Probe
▼ + stars: | 2023-10-31 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

Review and Outlook: Attorney General Merrick Garland demonstrates why appointing a special counsel to investigate Hunter Biden was a bad idea. Images: Reuters/Zuma Press Composite: Mark KellyHouse Republicans continue to unpack the Justice Department’s botched Hunter Biden probe, and evidence is mounting of interference from the top. The latest testimony comes from an Oct. 23 Judiciary Committee interview with former U.S. Attorney Scott Brady . In January 2020, then Attorney General Bill Barr tapped Mr. Brady to vet information related to Ukrainian corruption, and to pass along credible material to offices with ongoing investigations. Mr. Brady says in the transcript we’ve reviewed that FBI headquarters and Mr. Weiss’s office made this very difficult.

Persons: General Merrick Garland, Hunter Biden, Mark Kelly, Department’s, Scott Brady, Bill Barr, Brady, David Weiss Organizations: Zuma, Republicans, U.S, Delaware U.S Locations: Delaware, Ukrainian

☆ Tesla's enduring power is even clearer after the EV competition in Detroit falls flat
▼ + stars: | 2023-10-31 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe traditional auto industry has had more than a decade to build viable electric vehicle businesses. Again, maybe the traditional auto companies get a pass. WeWork-level lossesFord's EV business lost $1.3 billion, before interest and taxes, in the third quarter of 2023 – on just $1.8 billion of revenue. Detroit has responded with EV price cuts to try to compete with Tesla. Its auto business had a gross profit margin of more than 16% in Q3.

Persons: Tesla, —, Ford, Elon, haven't, China's BYD, Goldman Sachs, Kelley, Mercedes, Price Organizations: Ford, GM, Service, General Motors, Toyota, Honda, Wall Street, EV, Detroit, Mercedes, Benz, Tesla, LG Energy, Auto Locations: Detroit

☆ Trump gag order reinstated in Jack Smith federal election case
▼ + stars: | 2023-10-30 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A federal judge reimposed a gag order on Donald Trump in his criminal election interference case, rejecting Trump's arguments that the restrictions on his speech were unconstitutional. Trump called Barr "dumb" and "weak" and a "loser," in response to Barr's remarks at the University of Chicago's Institute of Politics last week. A spokesman for special counsel Jack Smith, whose team is prosecuting the case, declined to comment on whether Trump's latest attack on Barr violated the gag order. Lawyers for Trump had asked for a longer stay of the gag order while they appealed it in a higher court. Trump has already violated that gag order twice, drawing a total of $15,000 in penalties.

Persons: Donald Trump, Tanya Chutkan, Chutkan, Trump, Mark Meadows, William Barr, Barr, Jack Smith, Smith, Joe Biden, Neal Katyal, Obama Organizations: Trump, Republican, White, University of Chicago's Institute, Politics, Lawyers Locations: Washington, Meadows, U.S, New York

☆ The startup extinction wave is rising and it's beginning to wash over the cloud industry
▼ + stars: | 2023-10-25 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

Startup shutdowns will continue at an elevated pace for the next 2 to 3 quarters, according to Peter Walker, head of insights at Carta. There's one big caveat to these concernsThe generative AI boom is firing up demand for AI cloud services. And they're using some of that new money to spend on AI cloud services. The company's cloud growth was healthy in the third quarter, helped by demand for new AI services. The company has been rolling out a slew of AI cloud offerings lately.

Persons: It's, —, Carta, Peter Walker, Bernstein, Ruth Porat, Amy Hood, they're, we'll Organizations: Service, Carta, Services, Google, Amazon, Microsoft

☆ Mark Meadows quietly testified that he told Trump the election wasn't being stolen, reports say. But his book still pushed election fraud claims.
▼ + stars: | 2023-10-25 | by ( Sarah Gray | Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Unnamed sources familiar with the situation told ABC News and Bloomberg that Meadows testified before a federal grand jury hearing evidence in the election interference probe. It was not clear what Terwilliger told ABC News was inaccurate. Both ABC News and Bloomberg reported that Meadows told the grand jury he had informed Trump in the immediate aftermath of the 2020 election that claims of mass election fraud were baseless. AdvertisementAdvertisementMeadows also doubled down on the election fraud claims well after he and Trump left the White House, despite what the recent reporting says he told the grand jury. CNN noted that Meadows wrote in the book he did try to explain to Trump how he lost the election.

Persons: Mark Meadows, Jack Smith's, Meadows, Trump, —, Donald Trump's, Bloomberg —, George Terwilliger, Terwilliger, Bill Barr, who's, Alfred Hitchcock, Jenna Ellis, Sidney Powell, Kenneth Chesebro Organizations: ABC News, Bloomberg, Service, White House, CBS, ABC, White, CNN, Trump Locations: Georgia

☆ Google considers subscription business models for its new AI offerings
▼ + stars: | 2023-10-25 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

The CEO said subscription business models are "a possible path" for Google's AI products. AdvertisementAdvertisementGoogle CEO Sundar Pichai suggested the company could embrace subscription business models for some of its new AI products. With AI, the CEO said there's an opportunity to evolve Search and the Google Assistant service over the next decade. Wall Street is nervous about any big changes to Google Search because Search ads are so lucrative. Google's "other" revenue rose 21% year-on-year in the third quarter, led by strong growth in YouTube subscription revenue.

Persons: Pichai, Bard, —, Sundar Pichai, Morgan Stanley, Brian Nowak, Nowak, Google Bard, there's, they're Organizations: Service, Google, YouTube, NFL, NFL Sunday

☆ In a world of infinite AI, the new luxury item will be humans
▼ + stars: | 2023-10-25 | by ( Alistair Barr | ) www.businessinsider.com time to read: +11 min

The same inevitable supply-and-demand dynamic is about to wash over us again with large language models and generative AI. AI models are trained on masses of data from the past. Humans are good at learning quickly from a small amount of data, while AI models need mountains of information to train on. Soon, human content creators will be vying for attention with content generated by AI models. 'Utility, value and signaling'Hartz, a venture capitalist who now chairs Eventbrite's board, says successful technologists will continue to spend heavily on human experiences.

Persons: —, Kevin Hartz, Eventbrite, Taylor Swift, Marc Andreessen, Hartz, John Barone, you'll, Sal Khan, That's, Gates, Michael Larson, Elon Musk's, Morgan Stanley, Jared Birchall, Noam Brown, He's, Mark Zuckerberg, Zuckerberg Organizations: Service, Khan Academy, Menlo School, Sigma, Bloomberg, Meta, OpenAI, Google, Amazon Locations: GPT, Fiji, Palo Alto, Silicon, Menlo

☆ Rising Treasury yields are impacting you regardless of where your money is invested. Here's how.
▼ + stars: | 2023-10-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementIf you've paid even a bit of attention to the market over the past few months, chances are you've heard the commotion over US Treasury yields. (Prices and yields are inversely related; the more people sell Treasurys, the higher their yields go, and vice versa.) But even if you have zero interest in the market, Treasury volatility impacts you. So yes, Treasury yields could fall.

Persons: —, you've, Insider's Jennifer Sor, Uncle Sam, Treasurys, Alistair Barr, Bill Ackman, Ackman, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Treasury, Federal Locations: New York City, San Diego, London, New York

WASHINGTON, Oct 24 (Reuters) - U.S. regulators will begin grading banks on which communities and geographies they service via online lending under tougher new rules modernizing fair lending standards to be finalized on Tuesday. The changes to 1977 Community Reinvestment Act (CRA) regulations draw a line under a contentious multiyear effort that was delayed amid fierce lobbying by community groups and lenders, as well as by a change of presidential administrations. Conceived to prevent red lining, CRA regulations are central to banks' overall supervisory performance. Historically, CRA grades focused on how well banks serviced low-income communities where banks have branches. Banks on Tuesday said they supported fair lending but flagged concerns with the final rule.

Persons: Michael Barr, Michelle Bowman, Banks, Randy Benjenk, Lindsey Johnson, Pete Schroeder, Andrea Ricci, Michelle Price, Marguerita Choy Organizations: Federal, Fed, Federal Deposit Insurance Corporation, Office, Covington, Consumer Bankers Association, Thomson Locations: U.S, Burling

☆ These redistricting fights could determine which party controls the House
▼ + stars: | 2023-10-22 | by ( Fredreka Schouten | ) edition.cnn.com time to read: +16 min

Before the court action, Alabama – which is 27% Black – had only one Black-majority congressional district out of seven seats. The case is expected to land before the all-Republican state Supreme Court, where DeSantis appointees hold most seats. A separate federal case in Georgia challenges the congressional map on constitutional grounds and is slated to go to trial next month. UtahThe state Supreme Court, in a case it heard in July, is considering whether it even has the authority to weigh in on map-drawing decisions by the GOP-controlled state legislature. Advocacy groups and a handful of voters are challenging a congressional map that further carved up Democratic-leaning Salt Lake County between four decidedly Republican districts.

Persons: “, ”, David Wasserman, Amy Walter, Wasserman, Adam Kincaid, Kincaid, it’s, Nick Seabrook, –, John Roberts, Brett Kavanaugh, Ron DeSantis, Al Lawson, Steve Jones, Jones preliminarily, Andy Barr, Amy McGrath, Barr, Kareem Crayton, Brennan, Gabe Vasquez –, Chris Cooper, Jeff Jackson, Wiley Nickel, Kathy Manning, Don Davis, Valerie Foushee –, Davis, Roy Cooper, Nancy Mace, Kevin McCarthy Organizations: CNN, Democratic, Republicans, The, Republican, Black, National Republican Redistricting Trust, University of North, House, US, Gov, Black Democrat, Georgia Republicans, – Democratic, Congressional, Republican –, GOP, Louisiana Republicans, Appeals, Brennan Center for Justice . New, Brennan Center for Justice . New Mexico Republicans, New, New York Republicans, North Carolina, Democrats, Western Carolina University, Foushee, North, Democratic Gov, Supreme, Republican Rep, House GOP Locations: North Carolina, New York , Louisiana, Georgia, Alabama, New York, University of North Florida, America, Louisiana, Florida, Black, North Florida, Atlanta, Peach, . Kentucky, Kentucky, Frankfort, Democratic, Brennan Center for Justice . New Mexico, New Mexico, Mexico, Empire, “, Charlotte, Raleigh, Greensboro, state’s, Carolina, Charleston, Utah, Salt Lake County, Salt, Texas, Tennessee

☆ Morning Bid: To 5% and beyond, bond yields soar
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +5 min

The company earnings picture, meantime, was mixed to sour over the past 24 hours in both the U.S. and Europe. Despite decent demand at a typically awkward 20-year bond auction on Wednesday, yields continued to spiral higher overnight and ahead of Fed Chair Jerome Powell's key speech later on Thursday. The upshot of all factors has seen Treasury yields climb ever higher through the night - with two-year and 20-year yields , now both above 5.25%, the latter at a record high and the former the highest since 2006. Ten and five-year tenors also saw yields soar to within a hair's breadth of 5% early on Thursday too. The ructions in the bond market and incoming earnings saw Wall St indexes (.SPX), (.NDX) hit their lowest in 10 days on Wednesday and futures were in the red again ahead of the open today.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Republican Jim Jordan, Blackstone, Philip Morris, Jerome Powell, Philip Jefferson, Michael Barr, Lorie Logan, Austan Goolsbee, Raphael Bostic, Patrick Harker, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Federal Reserve, U.S, Netflix, Republican, Bank of Japan, Mortgage Bankers Association, HK, Fifth Third Bancorp, Philip Morris , Union Pacific, CSX, Truist Financial, American Airlines, Alaska Air, Philadelphia Fed, U.S . Federal, Dallas, Chicago Fed, Atlanta Fed, Treasury, Housing, Reuters, Thomson Locations: New York City, U.S, Washington, Venezuela, Europe, Frankfurt, Freeport, McMoRan, China

☆ Exclusive: Tech billionaire Peter Thiel was an FBI informant
▼ + stars: | 2023-10-19 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +12 min

Another source close to Thiel told Insider that while they could not confirm that Thiel was a CHS, Thiel did speak to Buma occasionally. "[They] will be either an 'FBI source' or a 'former FBI source' and, in turn, his or her conduct or misconduct will reflect upon the FBI." Drew Angerer/Getty ImagesAs a CHS, Thiel was assigned a code name and an internal serial number to track his reporting. Thiel, Johnson said, was directed by the FBI not to report on his interactions with Donald Trump or other US political figures. Johnson told Insider that he brokered an introduction between Thiel and the FBI special agent who would become his handler.

Persons: Peter Thiel, Trump, Thiel, Johnathan Buma, Charles Johnson, Johnson, MAGA, Donald Trump, Drew Angerer, Scott Horton, Buma, Sen, J.D, Vance of, Blake Masters, —, Vance, Joe Biden's, Vance of Ohio, Anna Moneymaker, Masters, Mithril's, Matt Gaetz, Gaetz's, Ginger Gaetz, Bill Barr, Rudy Giuliani, Alex Wong, Jeffrey Epstein, Enrique Tarrio, Tarrio, Mattathias Schwartz Organizations: FBI, Buma, CHS, Trump, Trump Tower, Republican National Convention, Joe Biden's Department, Getty Masters, Mar, Masters, Pentagon, CIA, National Security Agency, US Army, NSO Group, Forbes, Mithril, Clearview's, Committee, Capitol, Founders Fund, Boys Locations: Los Angeles, Germany, United States, New Zealand, Malta, Silicon, Vance of Ohio, Arizona, Palantir, American, Russian, Atlantic City, schwartz79@protonmail.com

☆ 3 law students from Harvard and Columbia lost their job offers over their student organizations' statements on the Israel-Hamas war
▼ + stars: | 2023-10-17 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Davis Polk has pulled job offers to three law students from Harvard and Columbia. The firm said the students were part of statements on the Israel-Hamas war that went against the firm's values. The move comes after an NYU law student also had a job offer revoked over a statement on Israel. AdvertisementAdvertisementThe law firm Davis Polk & Wardwell has rescinded job offers to three students from Columbia University and Harvard University due to their involvement in student organizations whose statements on the Israel-Hamas war ran counter to the firm's values. The law firm Winston & Strawn withdrew its job offer to a New York University law student who also published a statement on the Hamas attacks on Israel.

Persons: Davis Polk, —, Neil Barr, Winston, Strawn, Israel Organizations: Harvard, Columbia, Service, Wardwell, Columbia University, Harvard University, law.com, Hamas, Israel Defense Forces, Ministry of Health, New York University, NYU Student Bar Association Locations: Israel, launchcounterattacks, Gaza, Europe

☆ Why Fed officials aren’t addressing the Israel-Hamas war the way they did with Ukraine
▼ + stars: | 2023-10-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Emma Jones, a spokesperson for the Fed, declined to comment on why many Fed officials, who in the past moved swiftly to acknowledge the war in Ukraine, weren’t addressing the war in Israel. There are some Fed officials who are starting to talk about it, though — albeit only when asked questions. Fed officials see little immediate threat to the US economyAtlanta Fed President Raphael Bostic was the first to speak about the war, at the American Bankers Association’s annual conference last Tuesday. That’s probably why more Fed officials were quicker to acknowledge the war in Ukraine, Dorn said. “I don’t think the Fed wants to look like they’re taking sides,” Dorn added — but said Fed officials could easily talk about it without looking partial.

Persons: Chris Waller, ” Waller, Michael Barr, Philip Jefferson, Michelle Bowman, Lorie Logan, Emma Jones, James Dorn, “, ”, Raphael Bostic, Bostic, Neel Kashkari didn’t, aren't, they're, Al Drago, Susan Collins, ” Collins, Patrick Harker, we’ve, Harker, JPMorgan Chase, Jamie Dimon, ” Dorn, Dorn, There’s, Gregory Daco, Daco Organizations: New, New York CNN, Federal Reserve, ”, Dallas Fed, Fed, Cato Institute, CNN, Atlanta Fed, American Bankers, Minot State University, Minneapolis, Federal, Bloomberg, Getty, ” Boston, Wellesley College, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Rystad Energy Locations: New York, Ukraine, Russia, Israel, Waller’s, North Dakota, Delaware, Iran, Lebanon, Syria, United States, That’s, Gaza, Hormuz, EY

☆ A Prestigious Law Firm Rescinded Job Offers for Columbia and Harvard Students, but It May Reverse Itself
▼ + stars: | 2023-10-17 | by ( Maureen Farrell | More About Maureen Farrell | ) www.nytimes.com time to read: +1 min

Davis Polk, one of the country’s most prestigious law firms, recently rescinded employment offers made to three students who the firm believed led organizations at Harvard and Columbia that issued statements blaming Israel for the Oct. 7 attack by Hamas that left more than 1,400 Israelis dead. On Tuesday, the firm said it was reconsidering that decision for two of the three students, who fought their dismissals and said that they did not authorize the letters, which did not have any individual signatories. The New York law firm said two of the students held leadership roles in the Students for Justice in Palestine group at Columbia and one was affiliated with the Harvard Palestine Solidarity Groups, which jointly wrote a letter that held the “Israeli regime” responsible for the deadly violence. The Columbia students’ letter expressed “full solidarity with Palestinian resistance.”The firm did not identify the students or which two of the offers it was reconsidering. “The views expressed in certain of the statements signed by law school student organizations in recent days are in direct contravention of our firm’s value system,” Davis Polk said in a statement.

Persons: Davis Polk, Israel, ” Davis Polk, Neil Barr Organizations: Harvard, New, Students for Justice, Columbia, Harvard Palestine Solidarity Groups Locations: Columbia, New York, Palestine

☆ AI models can analyze thousands of words at a time. A Google researcher has found a way to increase that by millions.
▼ + stars: | 2023-10-16 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

A recent research paper revealed a new way to help AI models ingest way more data. Soon, you'll be able to put millions of words into context windows of AI models, researchers say. Bigger AI models can handle more, but only up to about 75,000. Massive context windowsThis Ring Attention method means that we should be able to put millions of words into the context windows of AI models, not just tens of thousands. AdvertisementAdvertisementThis chart shows some of the results of tests from the "Ring Attention" AI research paper.

Persons: you'll, —, Matei Zaharia, Pieter Abbeel, Claude, That's, OpenAI's, Hao Liu, Liu Organizations: Service, Google, UC Berkeley, Databricks, Nvidia Locations: GPT

The gag order fight underscores the unprecedented complexities of prosecuting the former president as he tries to retake the White House while fighting criminal charges in four cases. The defense had claimed Chutkan's comments about Trump in other cases raised questions about whether she had prejudged his guilt. But Chutkan said her comments were mischaracterized and there was no need for her to step aside. Prosecutors noted in a recent motion that Trump's incendiary rhetoric has continued even after their initial gag order request. Prosecutors have said their proposal would not impact Trump's ability to campaign or prevent him from publicly declaring his innocence.

Persons: Tanya Chutkan, Jack Smith’s, ”, Chutkan, Trump, Joe Biden, Barack Obama, William Barr —, Mark Milley, “, Donald J, ___ Richer Organizations: Republican, House, Trump, Prosecutors, Joint Chiefs of Staff Locations: New York, Boston

☆ Donald Trump gag order imposed by judge: Trump 'does not have the right to say and do exactly what he pleases,' Judge Chutkan says
▼ + stars: | 2023-10-16 | by ( Hannah Rabinowitz Katelyn Polantz | Holmes Lybrand | Hannah Rabinowitz | ) edition.cnn.com time to read: +10 min

“This is not about whether I like the language Mr. Trump uses,” Judge Tanya Chutkan said. Trump will appeal Chutkan’s order, he said in a post on his social media website Truth Social. Following the two federal indictments against the former president, Trump has lashed out against prosecutors, potential witnesses and the judge overseeing the election subversion case in Washington. “When you start to use a word like ‘thug’ to describe a prosecutor doing their job, that wouldn’t be allowed by any other criminal defendant,” Chutkan said. Limited gag order issued in NY fraud trialIf Chutkan does decide to place restrictions on what the former president can say, she won’t be the first judge to do so.

Persons: Donald Trump, Jack, Trump, ”, Tanya Chutkan, ” “, Chutkan, “, WITCH HUNT, Jack Smith’s, Mr, ” Chutkan, John Lauro, Joe Biden, Lauro, Judge ”, Smith, ’, Smith Chutkan, ” Lauro, Molly Gaston, ” Gaston, Mike Pence, Bill Barr –, won’t, Arthur Engoron, Chuck Schumer’s, ” Engoron Organizations: CNN, Justice Department, Prosecutors, Trump Locations: Washington, York

☆ Israel-Hamas war risks further deglobalization and inflation
▼ + stars: | 2023-10-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —The global economy is facing tremendous uncertainty from the war between Hamas and Israel in the Middle East, on top of the ongoing war between Russia and Ukraine. They say Israel’s declaration of war against Hamas could be yet another catalyst for deglobalization, though the extent of that is still up in the air. If deglobalization does get exacerbated, what would that mean for inflation and monetary policy, globally? With deglobalization, you get a global economic environment that’s less competitive, and when there’s less competition, that is ultimately inflationary, causing prices to rise. Over the Covid era, China shut down production, disrupting the global supply chain, so deglobalization would bring some production back within US borders.

Persons: Wells, Bell, Brendan McKenna, that’s, Trump, there’s, Hanna Ziady, we’ve, ”, Avi Hasson, Patrick Harker, John Williams, Tom Barkin, Michelle Bowman, Tesla, Christopher Waller, Lisa Cook, Jerome Powell, Austan Goolsbee, Michael Barr, Raphael Bostic, Loretta Mester Organizations: CNN Business, Bell, DC CNN, Trump, Hamas, Nation Central, Philadelphia Fed, US Commerce Department, Federal Reserve, National Association of Home Builders, China’s National Bureau of Statistics, Procter & Gamble, United Kingdom’s, National Statistics, American Airlines, US Labor Department, Federal, Fed Locations: Washington, Israel, Russia, Ukraine, China, Wells Fargo, Gaza, deglobalization, United States, Mexico, US, Tel Aviv, New York

Party lawmakers were due to hear from candidates Republicans at 1 p.m. Hardline conservative Jim Jordan said he would seek the gavel, after narrowly losing to Scalise in a nominating vote on Wednesday. But he faced skepticism from Scalise allies, who were angry that lawmakers had failed to unite behind his bid. A successful candidate would need to secure 217 votes from the splintered 221-212 Republican majority to win the job. Republicans considered and rejected a rule that would require any nominee to lock up 217 of their votes before moving to a public vote on the House floor.

Persons: Jim Jordan, Steve Scalise, Kevin McCarthy, McCarthy, Patrick McHenry, Kevin Hern, Tom Cole, Roger Williams, Patrick McHenry’s, Dan Meuser, Scalise, Andy Barr, Don Bacon, Jordan, John Boehner, Paul Ryan, David Morgan, Moria Warburton, Richard Cowan, Andy Sullivan, Scott Malone, Gerry Doyle, Jonathan Oatis Organizations: U.S . House, Representatives, House Republican Conference, U.S ., Republican, Republicans, Scalise, ”, Thomson Locations: WASHINGTON, U.S, Israel, East, Russia, Ukraine

☆ Republican infighting returns US House speaker race to square one
▼ + stars: | 2023-10-13 | by ( David Morgan | ) www.reuters.com time to read: +4 min

Many expected that pick to be House Judiciary Committee Chairman Jim Jordan, whom Scalise had bested in a secret ballot on Wednesday. His departure from the race angered Republican lawmakers and raised doubts about whether Jordan could drum up the necessary votes. Some lawmakers hope to revive a proposal requiring any candidate to secure 217 Republican votes to become the nominee. 'REWARDING BAD BEHAVIOR'Representative Don Bacon, a Republican centrist, said he and other lawmakers are withholding support for Jordan for now. Given a slim 221-212 House Republican majority, the next speaker can afford to lose support from no more than four Republicans and be elected speaker over Democratic opposition.

Persons: Nancy Pelosi, John Boehner, Steve Scalise, Jim Jordan, Scalise, Kevin McCarthy, Jordan, Andy Barr, Don Bacon, Bacon, Jim, Steve, McCarthy, Dusty Johnson, Greg Murphy, Patrick McHenry, David Morgan, Moria Warburton, Richard Cowan, Scott Malone, Gerry Doyle Organizations: U.S . House, Democratic, Republican, 112th United States Congress, Republicans, Thomson Locations: WASHINGTON

Insider spoke with startup founders and VCs who are managing companies while aiding the war effort. Startup founders and employees have traveled back to Israel from their homes abroad to take up arms and defend their country. The call to serveIn Israel, military service is mandatory for all citizens over 18. These startup founders and employees are using the skills they use every day like problem solving, multitasking and leading during the war effort. "I'm lucky to be a cofounder not a sole founder, so I'm relying on my cofounder," Kandel explained.

Persons: Israel, VCs, —, Oren Kandel, I'm, We're, Munch, Kandel, Isaac Gili, Jon Medved, David, Noy, Danielle Eisenberg, Leyb, Eisenberg, I've, Medved, Oren Kandel Kandel, that's, Ben Yellin, Ofer Sharon, Itamar Friedman, " Eisenberg, Tasmin Lockwood Organizations: Palestinian, Hamas, Service, Wednesday, Israeli Defense Forces, Startup, Israel Relief, Microsoft, Israel, Tel, Lightspeed Venture Partners, GGV, Insight Partners Locations: Gaza, Israel, Gedera, New York, cyberintelligence, Tel Aviv, Binyamina

☆ Meta made its Llama 2 AI model open-source because 'Zuck has balls,' a former top Facebook engineer says
▼ + stars: | 2023-10-13 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

Meta released Llama 2 as a mostly open-source AI model in July. Replit CEO Amjad Masad said Mark Zuckerberg took a big risk making the model open-source. AdvertisementAdvertisementSince Meta released Llama 2 as a (mostly) open-source project in July, the AI model has become a huge hit. The AI community has embraced the opportunity, giving Meta CEO Mark Zuckerberg his next potentially huge platform. There's the latest Falcon open-source AI model.

Persons: Meta, Amjad Masad, Mark Zuckerberg, —, Zuckerberg, Eric Newcomer, Clem Delangue, Eric Newcomer Masad, Masad, he's, Zuck, didn't Organizations: Service, Google, Facebook, Meta, United Arab Emirates

The AI boom has triggered a surge in spending on data centers. The AI boom has supercharged a wave of spending on data centers. AdvertisementAdvertisementThe data center boom is set to double or triple the amount of energy consumed by these data centers. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume.

Persons: —, ChatGPT, it's, Jonathan Gray, Cowen, Marc Ganzi, Shaolei Ren, Tom Keane, Keane, Bernstein, Mark Moerdler, Jahi, Matt McCollister, Pena Popo, Blackstone, Karla Moran, Moran Organizations: Service, McKinsey, Nvidia, UC Riverside, Microsoft, Washington, Getty, Lincoln Property Company, Harrison Street, Google, Meta, Amazon, Blackstone, Income Trust, QTS Realty Trust, Amazon Web Services, AP, Phoenix Locations: America, Rural America, Loudoun Meadows, Aldie , VA, Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Washington, DC, Virginia, New York City, Salt

A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange, October 16, 2012. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Oct 13 (Reuters) - Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written, but said they were hopeful they could win some changes. Citi Chief Financial Officer Mark Mason said the proposal would lead to a 16% to 20% increase in the bank's capital. The bank is reviewing products and operations, he said, highlighting equity investments, which will also be deemed much riskier under the rules. Citi is also reviewing credit products and where they may need to reprice those, and whether they need to restructure any of their markets positions.

Persons: Brendan McDermid, Jeremy Barnum, Barnum, Michael Barr, Banks, Mark Mason, Mason, Wells, Michael Santomassimo, Santomassimo, Tatiana Bautzer Organizations: Citi, Citigroup, New York Stock Exchange, REUTERS, Rights, Big, JPMorgan, . Federal, Basel III, Thomson Locations: Wells Fargo, Basel

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