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Search resuls for: "— CNN’s Nicole Goodkind"


4 mentions found


☆ Charlie Munger death: Warren Buffett’s business partner in Berkshire Hathaway passes away, aged 99
  + stars: | 2023-11-28 | by ( Paul R. La Monica | Krystal Hur | ) edition.cnn.com   time to read: +3 min
New York CNN —Billionaire investor Charlie Munger, the long-time friend and business partner of Warren Buffett, has died. Berkshire Hathaway, the investment firm where Munger served as vice chairman, said in a press release that Munger passed “peacefully” on Tuesday morning in a California hospital. Charles Thomas Munger, known by his nickname, “Charlie,” was born on January 1, 1924, in Omaha, Nebraska. Buffett told CNBC in 2021 that after their first meeting, he knew “I’m not going to find another guy like this …. “If people weren’t so often wrong, we wouldn’t be so rich,” Munger said during a 2015 Berkshire Hathaway annual shareholders meeting.
Persons: Charlie Munger, Warren Buffett, Berkshire Hathaway, Munger, Charles Thomas Munger, “ Charlie, ”, Wall, Munger’s, “ Berkshire Hathaway, Charlie, Mohamed El, ” Whitney Tilson, Buffett, “, ” Munger, “ I’m, CNN Munger, — CNN’s Nicole Goodkind Organizations: New, New York CNN, Berkshire, US Army, University of Michigan, Harvard Law School, Berkshire Hathaway, Erian, Allianz, CNN, Forbes, CNBC, Xerox, Daily Journal Locations: New York, “, ”, California, Omaha , Nebraska, Southern California, Japan, Omaha, Berkshire, Munger, Los Angeles
☆ US inflation cooled in June for the 12th straight month
  + stars: | 2023-07-12 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +7 min
US annual inflation slowed to 3% last month, according to the latest Consumer Price Index released Wednesday by the Bureau of Labor Statistics. The June annual rate is down from 4% in May and landed slightly below economists’ expectations for a 3.1% increase, according to Refinitiv. Starting in March 2022, the central bank rolled out 10 consecutive interest rate hikes to tame inflation, finally hitting pause last month. And June of last year was monumental: Annual inflation soared to 9.1%, the highest in more than 40 years largely because of record-high energy costs. So the Fed and economists have been keyed in on what’s happening with core inflation, particularly core services.
Persons: Olivia Newton, ” William Ferguson, “, Joe Biden, ” Sung Won Sohn, Lael Brainard, ” Brainard, Brainard, ” Julia Pollak, ZipRecruiter, Sohn, ”, —, Nicole Goodkind Organizations: Minneapolis CNN, Bureau of Labor Statistics, CPI, Grinnell College, CNN, Federal Reserve, Loyola Marymount University, SS Economics, Core PCE, National Economic Council, Economic, of New, BLS, Kansas City Fed Locations: Minneapolis, Iowa, of New York
☆ ChatGPT and AI automation: 300 million jobs could be affected globally, says Goldman Sachs
  + stars: | 2023-03-29 | by ( Michelle Toh | ) edition.cnn.com   time to read: +3 min
Hong Kong CNN —As many as 300 million full-time jobs around the world could be automated in some way by the newest wave of artificial intelligence that has spawned platforms like ChatGPT, according to Goldman Sachs economists. If generative artificial intelligence “delivers on its promised capabilities, the labor market could face significant disruption,” the economists wrote. ChatGPT, which can answer prompts and write essays, has already prompted many businesses to rethink how people should work every day. Further use of such AI will likely lead to job losses, the Goldman Sachs economists wrote. While workplaces may shift, widespread adoption of AI could ultimately increase labor productivity — and boost global GDP by 7% annually over a 10-year period, according to Goldman Sachs.
☆ Happy Fed Year: What’s on deck for the central bank in 2023
  + stars: | 2022-12-30 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +6 min
Minneapolis CNN —America’s central bank found itself in a glaring spotlight for much of this past year, as Federal Reserve Chairman Jerome Powell wielded blunt tools of interest rate hikes and quantitative tightening to curb surging inflation. That means the Fed, with its “laser focus on the job market,” could be “continually hawkish” at the start of 2023, said Ross Mayfield, investment strategy analyst at Baird. “This latent strength in the job market could be the reason that the Fed over-tightens,” he told CNN. Jerome Powell, chairman of the US Federal Reserve, from right, Lael Brainard, vice chair of the board of governors for the Federal Reserve System, and John Williams, president and chief executive officer of the Federal Reserve Bank of New York, during a break at the Jackson Hole economic symposium in Moran, Wyoming, on Aug. 26, 2022. That’s 0.2 percentage points higher than the 4.4% rate they were expecting in September and significantly higher than the current 3.7% rate.
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