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☆ US says it has no evidence that Huawei can make advanced smartphones ‘at scale’
▼ + stars: | 2023-09-20 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Commerce Secretary Gina Raimondo says the US government has no evidence that Huawei can produce smartphones with advanced chips “at scale,” as it continues to investigate how the sanctioned Chinese manufacturer made an apparent breakthrough with its latest flagship device. On Tuesday, Raimondo told US lawmakers that she was “upset” by news of the launch of Huawei’s Mate 60 Pro during her visit to China last month. “The only good news, if there is any, is we don’t have any evidence that they can manufacture 7-nanometer [chips] at scale,” she told a US House of Representatives hearing. That surprised many because SMIC, a partially state-owned Chinese company, has also been subject to US export restrictions for years. The following year, the US government expanded on those curbs by seeking to cut Huawei off from chip suppliers that use US technology.

Persons: Gina Raimondo, Raimondo, China’s, TechInsights, Ivan Lam, Kevin Frayer, Toby Zhu, Zhu, Lam, — Rashard Rose, Mengchen Zhang Organizations: Hong Kong CNN —, Huawei, Kirin, Semiconductor Manufacturing International Corporation, CNN, SK Hynix, Huawei ”, Research, IT, Eurasia Group Locations: China, Hong Kong, Korean, Beijing, Shenzhen, Apple’s

☆ 3 ways the generative AI boom is upending the advertising agency business
▼ + stars: | 2023-09-19 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Here are some of the newest challenges agency leadership teams are discovering as they race to lead AI in advertising. Productivity gains from AI risk undercutting agency feesMany agency bosses have touted the productivity efficiencies AI presents to their companies — from creating lists of search keywords to making tedious work like cataloging invoices less time-consuming. Agencies haven't figured out what to do with the AI talent they've hiredMuch like heads of digital, heads of mobile, and heads of programmatic before them, agency heads of AI are now having their time in the sun. But once such AI talent is sourced, agencies are presented with another dilemma: Where in the organization should a "head of AI" sit? Most businesses have started with this being part of the chief technology officer or the IT department's responsibilities, said Ruben Schreurs, chief strategy officer at the marketing consultancy Ebiquity.

Persons: Nick Coronges, Coronges, waitlists, Lewis Smithingham, Smithingham, Ryan Kangisser, Forrester, Jay Pattisal, haven't, they've, Ruben Schreurs, Richard Robinson Organizations: Google, Nvidia, OpenAI, Microsoft, Big Tech, Productivity, Forrester, Xeim Engage

☆ Ukraine is firing up to 7,000 rounds a day, a fraction of the 60,000 shells Russia was firing earlier this year: report
▼ + stars: | 2023-09-18 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Ukraine lags far behind Russia in its use and production of artillery shells, according to CNN. Russia fired 60,000 shells a day earlier this year, while Ukraine now fires about 7,000, per CNN. The Ukrainian military wants to fire more than 10,000 rounds a day, according to CNN, which would still remain far below Russia's artillery efforts. AdvertisementAdvertisementAs of July, the US had committed to sending more than two million artillery rounds to Ukraine, while the EU has approved plans to send a quarter of a million rounds. However, it remains unclear how fast European weapon manufacturers can catch up with Russia's production rates.

Persons: Oleksandra Ustinova, Armin Papperfer, Papperfer, Bill LaPlante, Douglas Bush, Bush, Ukraine's Organizations: CNN, Artillery, Service, Rheinmetall, EU, New York Times, Kremlin Locations: Ukraine, Russia, Wall, Silicon, Ukrainian, Kyiv, Estonian, Europe, Scandinavian

☆ Some startup founders say VC influence is 'debilitating.' Here's why they are turning down outside funding and bootstrapping instead.
▼ + stars: | 2023-09-14 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +6 min

But when it comes to his current startup, an AI platform for businesses called Iterate, Nordmark is staunchly against relying on outside funding. Nordmark is part of a growing league of founders who are opting for bootstrapping, which means growing startups without relying on outside funding from investors. Six startup founders interviewed by Insider also say that in some cases, they're actively turning down opportunities for funding to keep maximum control of their business plans. Founders who have eschewed VC funding say that bootstrapping allows them to go — and grow — at their own pace. To be sure, some startup founders are still taking big checks from VCs when the timing is right.

Persons: Jon Nordmark, Samsonite, Nordmark, they're, it's, MailChimp, Brooke LeBlanc, VCs, Dr, Bobbi Wegner, SVB, Evan Jager, we're, Dori Yona, Jason Burke, – Burke Organizations: Insider, VCs, Apple, Oracle, Intuit, Founders Locations: VCs, Boston

☆ Twenty years after euro "No" vote, Swedes fret over weak crown
▼ + stars: | 2023-09-14 | by ( Simon Johnson | ) www.reuters.com time to read: +6 min

Think Sweden, where a nosedive in the local crown currency over the past 18 months is proving a blessing for used-car dealers and other exporters. Companies like KP Energy, which imports solar panels to sell to trade buyers, cite the damaging effects of higher purchase costs and rising interest rates, which hit household spending. "It impacts us a huge amount when the crown weakens against the euro and when the demand picture changes," its CEO Filip Wiqvist said. A Demoskop poll this week showed 42% would vote "No" to joining the euro, while 34% would support it. Believing the crown is around 20% undervalued, the Riksbank has hedged its own foreign currency exposure in anticipation of future strengthening.

Persons: Joachim Agren, Registradores, Espania, Filip Wiqvist, Wiqvist, Jan Soderstrom, Annika Winsth, SEB, Robert Bergqvist, Martin Floden, Floden, Catherine Evans Organizations: STOCKHOLM, BCA, Reuters, Companies, KP Energy, European Union, Technologies, KPMG, European, NATO, Thomson Locations: Stockholm, Sweden, Swedish, Spain, EU, Ukraine, Turkey

☆ Russian manufacturers are making up to 7 times as much ammunition as Western arms makers, Estonian defense official says
▼ + stars: | 2023-09-14 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Russian military production is exceeding pre-war levels thanks to smuggling tactics. The US and other Western countries have tried to slash Russia's military strength with sanctions. Western officials worry increased Russian artillery could mean a dark and cold winter for Ukraine. Such smuggling has allowed Russian military production to not only recover but increase beyond pre-war levels. Before the country invaded Ukraine, a senior Western defense official told The Times that Russia could make 100 tanks a year; now they're averaging 200.

Persons: Matthew S, Axelrod, Russia's Organizations: Service, New York Times, The Times, Times, Estonian, ., Commerce Locations: Ukraine, Wall, Silicon, Russia, Kyiv, Moscow, Western, Europe, West, North Korea

☆ As China’s economy hits turbulence, a top Treasury official heads to Hong Kong to deepen ties with Beijing
▼ + stars: | 2023-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —A top US Treasury official is heading to Hong Kong as the White House continues its quest to ease tensions with Beijing and avoid a destabilizing crisis. During the trip, Neiman — the highest-ranking Treasury official to visit Hong Kong since 2019 — plans to meet with government officials, private sector economists and executives from the financial and legal sectors. He is also set to meet with US companies that are members of the American Chamber of Commerce in Hong Kong as well as with students. “Neiman will stress the United States’ focus on securing and advancing our economic and national security interests, along with those of our allies, and protecting human rights,” the Treasury official told CNN. Hong Kong is a semi-autonomous Chinese territory that is also the country’s international financial center.

Persons: Brent Neiman, Neiman, ”, “ Neiman, Ilaria Mazzocco, Joe Biden, Antony Blinken, John Kerry, Janet Yellen, Gina Raimondo, Yellen’s, Biden, Raimondo’s, can’t, Mazzocco, Yellen, Raimondo, “, ’, ” Clayton Allen, ” Allen, ” Nikki Haley, Nikki Haley, CNN’s Jake Tapper, Wally Adeyemo, it’s, ” Adeyemo, CNN’s Poppy Harlow, Andrew King Organizations: New, New York CNN, US Treasury, US, Treasury, CNN, American Chamber of Commerce, Center for Strategic & International Studies, Washington, Apple, Huawei, Eurasia Group, Republican, Future Union Locations: New York, Hong Kong, Beijing, China, States, Washington, West, United States, “ China

☆ Insider Today: Automating away CEOs
▼ + stars: | 2023-09-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

Today is always a difficult day, particularly here in New York, as we remember the innocent lives lost 22 years ago. But the group that seems immune to those concerns — CEOs — is primed for being usurped by robots, writes Ed Zitron. Ed's argument is straightforward: CEOs get paid a lot despite not providing much value for their companies. For all the talk of CEOs being transformational leaders full of business ingenuity, many are nothing more than figureheads. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Rick Rescorla, Morgan Stanley, Rescorla, — Dan DeFrancesco, Arantza Pena Popo, —, Ed Zitron, Ed, they're, STAN HONDA, Bill Ackman, foresees, Elon Musk's, Sam Altman, Kevin Dietsch, Ryan Petersen, Flexport's, Apple's, Microsoft's, Chris Williams, he's, Joe Biden, Damar Hamlin, Joe's, Wilson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, TED, LinkedIn, nab, Bank, America, Wynn Resorts, Broadcom, Sun, Pentagon, & Museum, The New York Jets, Buffalo Bills, Bills, Oracle, Bovis Homes Locations: Wall, Silicon, New York, China, Alaska, Savanna, New York City, San Diego, London

☆ Hip-hop stars and financial luminaries: Ritholtz Wealth Management redesigns the investment conference
▼ + stars: | 2023-09-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Surf City USA —for a financial conference. A financial conference on a beach? Reinventing the financial conferenceWelcome to FutureProof, billed as "the largest gathering of top-tier wealth management professionals, CEOs, CTOs, COOs, and fast-growing financial advisors." It's the brainchild of Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, and CEO Josh Brown. "Coming out of the pandemic, it was obvious to us that the traditional financial conference was past its sell-by date," Ritholtz told me.

Persons: Tang, Redman, They're, Jeremy Siegel, Jeff Kleintop, Charles Schwab, Emily Roland, John Hancock, Cliff Asness, Jeff Gundlach, maven Jan van Eck, Barry Ritholtz, Josh Brown, Ritholtz, FutureProof, You'll, Goldman, Goldman Sachs, Morgan Stanley, JP Morgan, RIAs, Dan Ives, Scott Wapner, Siegel, Morningstar, Christine Benz, Jeffrey Ptak, Ben Johnson, podcasters Michael Batnick, Ben Carlson, Wu, Tang Clan Organizations: Wharton, Ritholtz Wealth Management, Chiropractic, Health, Investment Advisors, CNBC, Financial Locations: Huntington Beach , CA, Huntington Beach , California, Surf, Huntington Beach, AQR, DoubleLine, FutureProof, COOs, Wells, Wedbush, Young

☆ Tech sector leads US stocks higher after bullish upgrade to Tesla
▼ + stars: | 2023-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US tech stocks surged on Monday after Tesla received a bullish upgrade from Morgan Stanley. Tesla stock jumped as much as 10% after Morgan Stanley highlighted the company's Dojo supercomputer initiative. Also helping stocks on Monday was the biggest decline in the US dollar in two weeks. Shares of Tesla jumped as much as 10% after Morgan Stanley said the company's Dojo supercomputer initiative could add $500 billion to its market value. "The more we looked at Dojo, the more we realized the potential for underappreciated value in the stock," Morgan Stanley said.

Persons: Tesla, Morgan Stanley, Stocks Organizations: Dojo, Service, Technology, US, Federal, Market, Dow Jones Locations: Wall, Silicon, Here's

Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. IPHONE SLOWDOWNChina has been a bright spot for Apple in an otherwise tough period for iPhone sales.

Persons: chipmaker SMIC, Jake Sullivan, Sullivan, Thomas Peter, Biden, Mike Gallagher, Gallagher, Mark Warner, Rick Meckler, Susannah Streeter, Hargreaves Lansdown, Streeter, Aditya Soni, Jaspreet Singh, Shristi Achar, Diane Bartz, David Gaffen, Shounak Dasgupta, Devika Organizations: Apple, Street, Washington, Huawei, HK, U.S . Commerce Department, National, Air Force, BofA Global Research, Qualcomm, REUTERS, Beijing, Communist Party, People's, Republican, Reuters, U.S, Senate Intelligence Committee, planemaker Boeing, Micron, Broadcom, Texas, Nasdaq, Cherry Lane Investments, Hargreaves, Thomson Locations: Beijing, US, China, U.S, Kirin, People's Republic of China, Bengaluru

☆ Apple's $200 billion valuation wipeout may foreshadow a post-US tech future
▼ + stars: | 2023-09-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Apple experience a $200 billion market cap drop amid investor concerns about China. A new phone from Huawei has been built mostly with equipment from China. Apple generated almost a fifth of its $394.3 billion net sales from the region in its last fiscal year . This week, Apple's main competition in China, Huawei launched a new 5G smartphone, the Mate 60 Pro. Other tech companies may be next.

Persons: Tim Cook, Cook, Joe Biden Organizations: Apple, Huawei, Service, Xiaomi, China's Semiconductor Manufacturing International Corporation, Bloomberg, Jefferies Locations: China, Wall, Silicon, Taiwan, Washington, Beijing, Guangzhou

☆ Norges Bank: Norway's $1.4 trillion investment fund is shutting its China office
▼ + stars: | 2023-09-08 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The firm, which manages Norway’s $1.4 trillion government pension fund, is the world’s biggest single investor in the stock market. The decision to close its Shanghai office was driven by “operational considerations” and doesn’t affect the fund’s investments or its investment strategy in China, NBIM said in a statement on Thursday. There are currently eight people in the Shanghai office, the firm said. Norges Bank is the central bank of Norway. Ontario Teachers’ Pension Plan, one of the world’s largest pension funds, closed its Hong Kong-based China equity investment team earlier this year.

Persons: NBIM, Odin Jaeger Organizations: Hong Kong CNN — Norges Bank Investment Management, Norges Bank, Bloomberg, Getty, Ontario, CNN, Forrester Research, Consulting Locations: China, Hong Kong, Shanghai, Asia, Singapore, Oslo, Norway, Norwegian

☆ SMIC stock plunges as US calls for further sanctions of China's top chipmaker over Huawei smartphone
▼ + stars: | 2023-09-07 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Shares in SMIC, China’s largest contract chipmaker, plunged on Thursday, after two US congressmen called on the White House to further restrict export sales to the company. The comments came after Huawei Technologies introduced the Mate 60 Pro, a Chinese smartphone powered by an advanced chip that is believed to have been made by SMIC. TechInsights, a research organization based in Canada specializing in semiconductors, revealed shortly after the launch that the smartphone contained a new 5G Kirin 9000s processor developed specifically for Huawei by SMIC. Gallagher was quoted as saying SMIC may have violated US sanctions, as this chip likely could not be produced without US technology. Hua Hong Semiconductor, China’s second largest chip foundry, tumbled 4.8%.

Persons: SMIC, ” Jefferies, Qilai Shen, Mike Gallagher, Gallagher, ”, Texas Republican Michael McCaul, “, Gina Raimondo, Raimondo, SMIC’s, Biden Organizations: Hong Kong CNN —, House, Huawei Technologies, Kirin, Huawei, SMIC, Semiconductor Manufacturing International Corp, Bloomberg, Getty, US Commerce Department, Reuters, Semiconductor Manufacturing International Corporation, Hua Hong Semiconductor, Texas Republican, Foreign Affairs Committee, US, US Commerce, Huahong Semiconductor, CNN, Jefferies Locations: China, Hong Kong, SMIC, China’s, Chinese, Shanghai, United States, Canada

☆ Startup investors are fueling a boom in U.S. defense tech as China standoff opens doors at home
▼ + stars: | 2023-09-07 | by ( Lauren Feiner | ) www.cnbc.com time to read: +11 min

Louie added that he doesn't "know of a single major fund out there that isn't thinking about disruptive tech investing in the U.S., investing in defense tech, investing in microelectronics and AI in the next generation and next iteration." Stephen McCarthy | Sportsfile | Getty ImagesVC funding in aerospace and defense tech has shot up in recent years, according to data compiled by PitchBook for CNBC. The poster child for U.S.-focused defense tech is Anduril Industries, co-founded in 2017 by Oculus Rift designer Palmer Luckey. They can just look at the untapped potential in defense tech. "The government's becoming a better customer," said Shah, who previously served as managing partner of the Defense Department's Defense Innovation Unit, which seeks to accelerate the use of emerging technologies.

Persons: Hadrian, Chris Power Hadrian, Joe Biden, Gilman Louie, Alsop, Louie Partners, He's, Louie, Biden, Lindsay Gorman, she's, Gorman, Chris Power, Power, Hadrian's, Peter Thiel's, Palmer Luckey, Stephen McCarthy, Sportsfile, Anduril, Richard Jenkins, Bilal Zuberi, Lux, Zuberi, Jenkins, Saildrone didn't, Paul Kwan, Catalyst, What's, Kwan, Kyle Harrison, Saul Loeb, Raj Shah, Josh Wolfe, There's, Shah, Wolfe Organizations: Chris Power Hadrian Automation, America's Frontier, U.S, Marshall Fund's Alliance, Securing Democracy, Lux Capital, Fund, Andutil Industries, Enercare Center, Getty, PitchBook, CNBC, Industries, Oculus, Blue Force Technologies, Oceanic, Atmospheric Administration, Navy, Coast Guard, Google, Intel, AFP, Shield, Lux, Defense Department's Defense Innovation Unit, Power, YouTube, China Locations: China, U.S, America, Torrance , California, Los Angeles, Toronto, Canada, Ukraine, New Albany , Ohio, Silicon

☆ Stripe, Shopify, H&M spend $7 million on carbon removal from a dozen new companies
▼ + stars: | 2023-09-07 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +6 min

Stripe, Shopify and H&M Group announced Thursday they are spending $7 million on carbon removal from a dozen carbon removal startups. Stripe, Shopify and H&M are three of the member companies of Frontier, and together, they spent $7 million on carbon removal purchases from 12 companies: Airhive, Alkali Earth, Banyu Carbon, Carbon Atlantis, CarbonBlue, CarbonRun, EDAC Labs, Holocene, Mati, Planetary Technologies, Spiritus Technologies and Vaulted Deep. Frontier facilitates carbon removal purchases for its member companies via multiple pathways, including pre-purchase agreements and offtake agreements. Zoom In Icon Arrows pointing outwards Mati is one of the dozen companies Frontier has facilitated carbon removal purchases from on behalf of Stripe, Shopify and H&M. Zoom In Icon Arrows pointing outwards CarbonBlue is one of the dozen companies Frontier has facilitated carbon removal purchases from on behalf of Stripe, Shopify and H&M.

Persons: Mati, Charm, stover, Joanna Klitzke, Klitzke, that's Organizations: M, Frontier, EDAC Labs, Planetary Technologies, Spiritus Technologies, Autodesk, JPMorgan Chase, McKinsey, Meta, CNBC, United Nations, & $ Locations: Mati, India, Gulf of Mexico

☆ US lawmaker calls for ending Huawei, SMIC exports after chip breakthrough
▼ + stars: | 2023-09-06 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

The phone contains a chip that analysts believe was made with a technology breakthrough by Semiconductor International Manufacturing Corp (SMIC) (0981.HK). "This chip likely could not be produced without US technology and thus SMIC may have violated the Department of Commerce’s Foreign Direct Product Rule," Gallagher said in a statement. SMIC was added to the so-called entity list in December 2020, over fears it could divert advanced technology to military users. The trade restrictions imposed on Huawei and SMIC include the Foreign Direct Product Rule meant to bar any company anywhere in the world from using tools from the United States to manufacture a chip for Huawei. But suppliers to Huawei and SMIC have received billions of dollars' worth of licenses to sell U.S. technology to the companies despite their being on the trade lists, Reuters has previously reported.

Persons: Mike Gallagher, Biden, Gallagher, SMIC, Stephen Nellis, Leslie Adler Organizations: U.S . Commerce, Huawei, Representatives, Republican, Semiconductor International Manufacturing Corp, HK, of Commerce’s, SMIC, Foreign, Reuters, U.S, Commerce Department's, Thomson Locations: China, United States, San Francisco

☆ I'm a 'grumpy stayer' at my tech job. I'm not happy with the pay but I stick around because leaving one mediocre job for another feels pointless.
▼ + stars: | 2023-09-04 | by ( Kaila Yu | ) www.businessinsider.com time to read: +5 min

An LA-based tech worker told Insider they stay at their job because it's convenient. The job is convenient because I can work remotely from my home in LA, but otherwise, I'm a "grumpy stayer" because I'm not completely happy with my work situation. HR and the executive team don't like that I'm an advocate and likely see me as grumpy or difficult, but I don't care. Leaving one mediocre job for another feels pointless, and I don't expect better working conditions. I'm a grumpy stayer because the economy is too crazy to return to full-time freelance.

Persons: I've, I'm, doesn't, we've, didn't, It's, — she's, they're Organizations: Management, Morning Locations: LA, New York

Col. Yurii Ihnat, Ukraine’s air force spokesman, believes that two squadrons, each of 12 planes, would begin to turn the tables. Mads Claus Rasmussen/Ritzau Scanpix/ReutersBut the F-16 has never gone up against Russian air defenses in the real world. “Russian air defenses are very formidable.”Rapid trainingTraining programs are getting underway for the first batches of Ukrainian pilots – in Denmark, Romania and the United States. Ihnat says about 30 Ukrainian air force pilots have adequate English, the absolute minimum required to stand up two squadrons. The Ukrainian Air Force has long been working on improving and protecting airfields that would accommodate the F-16s.

Persons: Volodymyr Zelensky, Piroschka van de Wouw, Yurii, Volodymyr Zelenskiy, Mette Frederiksen, Mads Claus Rasmussen, Ritzau Scanpix, ”, Mark Cancian, ” Ihnat, Oleksii Reznikov, Ihnat, Cancian, ” Cancian, James B, Hecker, ” Hecker, Frank Kendall, it’s, Mykola Oleshchuk, Su, Kendall, Biden Organizations: CNN, Air Force, Reuters, Denmark's, Center for Strategic, International Studies, Rapid, Reuters Ukrainian Defense, Ukrainian, Air Missiles, Radiation, CSIS, NATO, US, Accounting, US Air Force, US Air Forces Europe, SA, Ukrainian Air Force Locations: Danish, Russian, Netherlands, Denmark, Norway, Ukraine, Romania, United States, Greece, Israeli, Russia

☆ The Fed is ‘flying blind’ on the economy. Will this week’s jobs data help?
▼ + stars: | 2023-08-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

The Bureau of Labor Statistics kicks things off on Tuesday with the Job Openings and Labor Turnover Survey report for July. But the pace of job creation and demand by employers for flexible labor, temporary, contract and full time jobs, while still strong, has definitely slowed. Tell me about the ASA Staffing Index, which tracks weekly changes in temporary and contract employment. The ASA Staffing Index is a real-time snapshot of employment. So I think we may have seen a trough in terms of temporary employment and we could be seeing now the beginning of the upturn.

Persons: Bell, Richard Wahlquist, Jackson, Jerome Powell, Powell’s Jackson, we’ve, We’ve, they’ve, upticks, Alicia Wallace, ”, Janelle Griffith, Marsh, Brian Fung Organizations: CNN Business, Bell, New York CNN, Labor Statistics, Labor, ADP, Reserve, American Staffing Association, Fed, ASA, Panama Canal Authority, Amazon, Apple, Google, Meta, Microsoft, Companies Locations: New York, Jackson Hole , Wyoming, Panama, North American

☆ Large US tech companies face new EU regulations
▼ + stars: | 2023-08-25 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Although the European Union’s Digital Services Act (DSA) passed last year, companies have had until now to prepare for its enforcement. Friday marks the arrival of a key compliance deadline — after which tech platforms with more than 45 million EU users will have to meet the obligations laid out in the law. But the list finalized in April includes the most powerful tech companies in the world, and, for those firms, violations can be expensive. The DSA permits EU officials to issue fines worth up to 6% of a very large platform’s global annual revenue. In a statement, a Microsoft spokesperson told CNN the DSA deadline “is an important milestone in the fight against illegal content online.

Persons: “, TikTok, “ We’ve, ”, Nick Clegg, Meta, Snap, Apple, Pinterest, Robert Grosvenor, Alvarez, ” Grosvenor, Thierry Breton, Breton, X, Agustin Reyna, Court’s, ” TikTok Organizations: CNN, Amazon, Apple, Google, Meta, Microsoft, Union’s Digital Services, EU, DSA, Companies, Facebook, European Commission, X Locations: Europe, London, “, BEUC

☆ The CEO who brutally fired hundreds of the people on Zoom is taking his startup public in a move that could make or break him
▼ + stars: | 2023-08-24 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

Vishal Garg is taking Better, a mortgage startup, public through a long-delayed SPAC deal. Read what he said about making strategic acquisitions and the millions in company loans that stand to be forgiven. But CEO Vishal Garg, known for brutally laying off hundreds of employees via Zoom, insists he has a plan. One former employee told Insider that the move seems like a "Hail Mary," both for Garg personally and for the business more broadly. Here is what Garg said about his vision for the company and how he will spend the money Better receives from the IPO.

Persons: Vishal Garg, Garg, SPACs, Mary, refinancings, it's, SoftBank, indemnifying, —, It'll Organizations: & Finance, Aurora Acquisition Corp, Nasdaq, World Trade Center, Federal Reserve, Silicon, Better, Mortgage, SEC, Scotsman, Aurora, Insider Locations: Garg, refinancings, Queens , NY

☆ Big Tech salaries revealed: This is what developers, engineers, and product managers make at Google, Apple, Meta, and Amazon
▼ + stars: | 2023-08-23 | by ( Business Insider | ) www.businessinsider.com time to read: +1 min

Insider analyzed salary data for thousands of workers to reveal how much large tech companies pay. We crunched the numbers for companies including Amazon, Apple, Facebook, Google, and Microsoft. The data from US companies report in foreign workers' visa applications sheds light on compensation. In March, the tech-industry association CompTIA reported that the projected rate for tech jobs over the next decade is nearly twice the national jobs rate. It projected over 270,000 net new tech jobs this year.

Organizations: Amazon, Apple, Facebook, Google, Microsoft, Companies, of Foreign Labor

☆ How Russia is using US tech to build cruise missiles to devastate Ukraine, despite sanctions meant to stop it
▼ + stars: | 2023-08-22 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Russia has found new ways of obtaining US tech for its cruise missiles. Officials, experts, and media reports have laid out the routes Russia is using to import the banned or restricted technology. Ukrainian officials last Tuesday said that Russian K-100 cruise missiles used in recent attacks were built in 2023, using more than 30 foreign components, meaning that Western sanctions weren't working. The Kazakhstan back door for tech suppliesThe US sanctions include a ban on the sale of technology that could be used by Russia to build weapons. According to the Economist report, logic boards from California-made Altera Flex have been used in building the KH-100 cruise missiles Russia has used in attacks on Ukrainian cities and infrastructure.

Persons: Andriy Yermak, STRINGER, Gary Sommerville, we've, Sommerville, Mykola Danilyuk, Danilyuk Organizations: US, Service, Getty, Royal United Services Institute, Kazakhstan's, National, Russia, Kazakh, Russian, Silverado, New York Times, Free Russia Foundation, eBay, Amazon Locations: Russia, Wall, Silicon, Ukraine, Russian, Kazakhstan, Kazakh, US, Armenia, Ukrainian, California

☆ Goldman Sachs names 6 stocks set to beat 'intense competition' in the EV industry
▼ + stars: | 2023-08-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

The second comprises companies that tap opportunities leveraging new tech and business, said Goldman, naming stocks such as Panasonic, Toyota Industries and Hon Hai Precision Industry. Tesla : Goldman noted that Tesla is ramping up its in-house battery manufacturing capabilities — in addition to its partnerships with battery suppliers. Goldman gave Toyota a buy rating, and 12-month target price of 2,800 Japanese yen ($19.25), representing about 19% potential upside. Toyota Industries : Last year, Toyota Industries developed a bipolar nickel-metal hydride battery for hybrid vehicles. Goldman gave Toyota Industries a neutral rating, and 12-month target price of 9,200 Japanese yen, representing about 7% potential downside.

Persons: Price, Goldman Sachs, Goldman, Hon Hai, Hai, Tesla, BYD, — CNBC's Michael Bloom Organizations: BYD, Toyota Motor, Panasonic, Toyota Industries, Hai Precision Industry, ICT, New, Toyota, EV Locations: Chinese, New Taiwan, EVs

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