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☆ From hours to seconds: A short demo on parallel computing shows why Nvidia is the world's most valuable company
▼ + stars: | 2024-11-15 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Increased availability of advanced chips has made parallel computing more accessible. By and large, they were nerding out on the possibilities of parallel computing. That speed comes from the parallel computing that the GPU enables. AdvertisementThe concept has been around since the 1980s, but until relatively recently, the capability to actually perform parallel computing was hard to access. This immense volume of computations is what has driven so much demand for Nvidia GPUs.

Persons: —, Rick Ratzel, Pydata, Ratzel Organizations: Service, Nvidia, Python Locations: Manhattan

☆ Internal Tesla salary database shows Elon Musk's strategy: Lower salaries, bigger stock grants
▼ + stars: | 2024-11-11 | by ( Grace Kay | Madison Hoff | ) www.businessinsider.com time to read: +12 min

Business Insider secured access to an internal Tesla pay database, covering nearly 100,000 employees as of December 2021. Tesla offers lower base salaries than its tech and automotive peers but offers substantial stock grants. Nine current and former people in engineering and sales said that Tesla's stock grants make it easier to accept lower base salaries. To get a sense of which employees were more likely to take home large grants, BI broke up stock grants based on job category. So far, stock grants have "proven to be better than cash in your pocket."

Persons: Elon Musk's, It's, Tesla, Donald Trump's, —, Zaheer Mohiuddin, ISOs, Greg Selker, Stanton Chase, Selker, Musk, we've, Harley Shaiken, Ford, Shaiken, Drew Baglino, Zachary Kirkhorn, Omead Afshar, Aaron Greenspan, it's Organizations: Business, CNBC, Securities and Exchange Commission, Nvidia, Ford, Meta, Amazon, Apple, Microsoft, BI, Companies, Google, US, Netflix, Big Tech, GM, Musk, Bloomberg Locations: Silicon Valley

☆ Citi needs a white knight. Donald Trump's second term might provide one.
▼ + stars: | 2024-11-07 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump's presidential victory and his promise of light regulation could help relieve one of Citi's biggest problems. Wells Fargo analyst Mike Mayo called Trump's win a "regulatory game changer" in a research note. For instance, the OCC has required Citi to submit plans each quarter to ensure they are allocating enough resources to the Transformation effort. AdvertisementSince the July fines, Citi has faced mounting pressure. A few weeks later, Fraser was dogged by questions in an earnings call about the bank's regulatory fate.

Persons: hasn't, Donald Trump's, bode, Jane Fraser, —, Wells, Mike Mayo, Trump, Michael Hsu, Jerome Powell, Stephen Biggar, Sen, Elizabeth Warren, Fraser, Vivek Juneja Organizations: Citi, Service, Wednesday, Federal Reserve, Currency, Trump's, OCC, Economic, of New, Republican, Argus Research Locations: of New York

☆ Data startup Matia just emerged from stealth with a $10.5 million seed round — check out its 11-slide pitch deck
▼ + stars: | 2024-10-29 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Miami-based data operations startup Matia has secured $10.5 million in seed funding. BI got an exclusive look at the 11-slide pitch deck Matia used to secure the fresh funding. AdvertisementMiami-based data management startup Matia has just come out of stealth with $10.5 million in seed funding. The startup's pitch deck, shared exclusively with BI, states that it has four early customers and 10 companies who are showing "strong interest." Check out the 11-slide pitch deck used to secure the fresh funding.

Persons: —, Benjamin Segal, Segal, Matia, Benjamin, Geva Organizations: BI, Service, Leaders Fund, Cerca Partners, Caffeinated Locations: Miami

☆ How the world’s largest tech event is forging a future AI economy
▼ + stars: | 2024-10-15 | by ( ) edition.cnn.com time to read: +6 min

A next generation agendaGITEX GLOBAL will span 40 halls across two locations, bringing together the entire international technology community to set the global agenda for the future AI economy. With the global AI market projected to reach $2.7 trillion by 2032, the event will showcase the latest advancements driving this remarkable growth. GITEX GLOBAL 2024 AGENDA MONDAY: TECH INVESTMENT DAY - Explore the latest investment trends that are reshaping global wealth. In addition, the World Future Economy Digital Leaders Summit will see global innovators and influential leaders address critical priorities shaping the future of technology. By bringing together diverse stakeholders from across the globe, the event is poised to shape the future of the AI economy and reinforce Dubai’s vision of becoming a global tech hub.

Persons: Martin Pfeiffer, Fabrizio del Maffeo, Alexander Zhavoronkov, Dr, Diane Janosek, Brett Johnson, Ekaterina Serban, Surinder Organizations: Dubai World Trade, Dubai Harbour, TECH, Tech, Google, Huawei, IBM, Microsoft, Nvidia, Oracle, European NVIDIA, ”, InSilico, supercomputing, UAE Cybersecurity Council, TCB, National Security Agency, Pentagon, Bosch, Paramount Locations: Dubai, European, Hong Kong

☆ Citi's regulatory nightmare still haunts CEO Jane Fraser
▼ + stars: | 2024-10-15 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Citi CEO Jane Fraser denied the prospect of an asset cap after being pressed by two analysts. CFO Mark Mason said Citi is reevaluating its budget and strategy to fix regulatory problems quicker. AdvertisementCiti topped Wall Street expectations this quarter, but CEO Jane Fraser was dogged by questions regarding the bank's regulatory fate. Fraser was asked three times for reassurances that Citi did not and would not have an asset cap before answering the question. "We do not have an asset cap and there are no additional measures other than what was announced in July in place and not expecting any."

Persons: Sen, Elizabeth Warren, Jane Fraser, Mark Mason, —, Fraser, Vivek Juneja, Warren's, Anand Selva, Wells, Mike Mayo —, I'm, Mayo, Mason, Tim Ryan Organizations: Citi, Service, OCC, Federal Reserve Locations: Selva

☆ What internet data brokers have on you — and how you can start to get it back
▼ + stars: | 2024-10-11 | by ( Barbara Booth | ) www.cnbc.com time to read: +17 min

Inside data brokers' massive vaultCybersecurity experts estimate that data brokers collect an average of 1,000 data points on each individual with an online presence. Little oversight around data privacyThe lack of comprehensive regulation around data privacy allows data brokers to operate with little oversight, unlike the General Data Protection Regulation (GDPR) in the European Union. Opt-out links and instructions are readily available for most of the major data brokers: ExperianTransUnionLexisNexisEpsilon But data privacy experts says reclaiming or deleting your data from brokers can be a deliberately complex process that is not only time-consuming but frustrating. "With AI, data brokers will create even more detailed and predictive profiles, incorporating everything from biometric data to behavioral tracking," Abed said. Until regulation steps in, data brokers will continue to collect as much data as possible.

Persons: Pew, Arjun Bhatnagar, Roger Grimes, Jeff Chester, Chester, I'm, Bruno Kurtic, Chris Henderson, Chelsea Magnant, Rob Hughes, Kurtic, Cloaked's Bhatnagar, Henderson, Javad Abed, Abed Organizations: Pew Research, Social, LexisNexis, Epsilon, OneRep, Center for Digital Democracy, D.C, Bedrock Security, National Security Agency, CNBC, Data Protection, European Union, NYU's Center for Global Affairs, Brunswick, RSA, U.S, Consumers, Consumer, Engage, Federal Trade Commission, FTC, Johns Hopkins Carey Business School Locations: Washington, California, U.S, Chester

☆ Ark Invest expects this tech stock to disrupt Big Tech firms
▼ + stars: | 2024-10-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Big Tech companies will face stiff competition over the coming years, with emerging players in software and data management taking market share, according to Ark Invest. Mega-cap U.S. firms such as Microsoft , Amazon , Google , and Oracle have led the charge in the rise of artificial intelligence. Palantir Palantir, a data analytics company, appears to be providing customized AI and data services to its customers, compared with off-the-shelf products from Big Tech giants. The value of Palantir's services becomes even more compelling when combined with AI capabilities, according to Ark's Bhushan. So Palantir goes in, and it consolidates all this data," Bhushan noted.

Persons: Rahul Bhushan, CNBC's, Bhushan, Palantir, Ark's Bhushan, PLTR Organizations: Big Tech, Invest, Microsoft, Google, Oracle, Ark Invest, Amazon Web Services, Ark Venture

☆ Neurable’s BCI ‘brain-reading’ headphones could stop you burning out
▼ + stars: | 2024-09-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

The MW75 Neuro comes in four colors, including silver. NeurableThe concept, says Alcaide, is to help users “build discipline and good habits” through rewarding good cognitive hygiene. Blackrock NeurotechThe MW75 Neuro is a "non-invasive" BCI. CNN’s Anna Stewart tries an early iteration of Neurable’s MW75 Neuro headphones with Deena Al Jassasi (right) at Healthspan Digital, a longevity clinic in Dubai. As more people wear the headphones, Alcaide says users can opt-in to share their anonymized data which can help improve functionality for new software features.

Persons: Ramses Alcaide, Woojin Lee, Neurable, Alcaide, you’re, ”, Miguel Nicolelis, Adam Molnar, ” Miguel Nicolelis, Neurobiologist, Duke University Nicolelis, Deena Al Jassasi, CNN’s Anna Stewart Organizations: CNN, University of Michigan’s, Interface, Dynamics, Duke University, Neurable, BCI, Blackrock, DCI Network, Institute of Neuroethics, Healthspan Locations: Boston, Alcaide, Blackrock Neurotech's Utah, Dubai

☆ Citi shakes up leadership after $136 million in fines for data quality issues. A memo to employees breaks down what you need to know.
▼ + stars: | 2024-09-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

In July, regulators fined the bank $136 million for failing to fix its data quality issues quickly enough. "Data and technology are intrinsically linked and the maturity and sustainability of our Data Transformation plan require that we leverage technology more," the memo reads. AdvertisementCiti is also appointing a new leader to run its Chief Data Office: Ashutosh Nawani, who previously led enterprise risk management. Nawani will report to Ryan and serve as head of enterprise data office and data transformation. Mehta became chief data officer the following month.

Persons: —, Tim Ryan, Anand Selva, Ryan, we've, Selva, We've, Ashutosh Nawani, Nawani, Japan Mehta, Jane Fraser, Kathleen Martin, Martin, Mehta Organizations: Service, Citigroup, Citi, Business, PricewaterhouseCoopers, Revlon, Data, PwC, OCC Locations: London, Japan, India, Asia, Singapore, New York, Selva

☆ Stocks making the biggest moves midday: Ally Financial, Southwest Airlines, Oracle and more
▼ + stars: | 2024-09-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings of 57 cents per share in its fiscal third quarter. That is more than the 43 cents per share that analysts were expecting, according to FactSet. Oracle — Shares of the database software company surged more than 11% after a fiscal first-quarter beat on the top and bottom lines. For the fiscal second quarter, the company saw growth of 4% in preliminary consolidated same-store sales.

Persons: Russell Hutchinson, LSEG, Piper Sandler, Hewlett Packard, Rubrik, FactSet, Patterson, Gary Kelly, Bob Jordan, Alibaba, Daniel Pinto, — CNBC's Brian Evans, Samantha Subin, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Ally, Mission, Calavo, Calavo Growers, Oracle —, Oracle, Amazon Web Services, Hewlett Packard Enterprise, Hewlett, Juniper Networks, UTI, Southwest Airlines —, Elliott Investment Management, Hong, Reuters, JPMorgan Locations: U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen

☆ Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
▼ + stars: | 2024-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral.

Persons: Piper Sandler, LSEG . Patterson, Alibaba, Morgan Stanley, Wells Fargo, —, Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li, Scott Schnipper Organizations: Growers, Oracle, LSEG, Apple, Hewlett Packard Enterprise, Juniper Networks, Revenue, UTI Energy, Hong, Reuters, Johnson, JPMorgan, Anheuser, Busch Inbev SA, Equity Locations: California, U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen, Wells

☆ AI won't kill your computer science degree, professors say
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewGetting a computer science degree used to be a stable path for any college student looking to secure a tech job right after graduation. And if that wasn't enough, computer science majors don't just have to compete amongst themselves, they need to watch out for AI too. Computer science professors that BI spoke to said that earning a degree in the field is just as, if not more, valuable in the age of AI. Related storiesThis, Kan said, is because computer science isn't so much about coding as it is an approach to solving problems. AdvertisementDavid Malan, a computer science professor at Harvard, told BI that AI won't displace software engineers in the near term and would instead amplify their productivity.

Persons: —, Aditya Swami, Hatcher, Kan Min Yen, Kan, David Malan, Malan, Adrian Goh Organizations: Service, Big Tech, Business, National University of Singapore, Harvard, Engineers, Software Locations: Asia

☆ In the age of AI, there's no future for workers content with being code monkeys — and they know it
▼ + stars: | 2024-07-30 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +7 min

"I think there will be a change in the way a software engineer works, and instead of five software engineers you might need four in future," she said. AdvertisementHe said that people who studied software engineering before the rise of AI tools have a stronger foundation because they have "written code from scratch." AdvertisementAn added that foundational knowledge in "algorithms, data structures, software engineering, and other critical areas" is essential for advancing AI technologies. David Malan, a computer science professor at Harvard, told BI that AI tools could be a plus for aspiring software engineers who know how to leverage them. Tejas Rajagopal, a recent computer science graduate from NTU, said he's been trying to expand his skillset to strengthen his chances of landing a job.

Persons: —, Arpita Kaushik, Aditya Swami, Hatcher, Swami, Kaushik, It's, hasn't, Adrian Goh, Goh, Kan Min Yen, Kan, Bo An, David Malan, Malan, he's, Rajagopal Organizations: Service, Google, Business, IBM, Rocket Mortgage, National University of Singapore, Nanyang Technological University, NTU, Harvard, Tejas Locations: Singapore, Hatcher, Asia

☆ Citi CEO Jane Fraser pledges to fix tech mess and appease regulators. Here's what she told analysts.
▼ + stars: | 2024-07-12 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDespite topping Wall Street's expectations, Citi CEO Jane Fraser kicked off Friday's quarterly earnings call by addressing the bank's failing attempts to fix regulatory issues. Two days prior, the bank was fined $135.6 million for not fixing its data quality management quickly enough. To address this, Citi plans to increase its annual spend on Transformation by about $250 million to $3.15 billion, according to chief financial officer Mark Mason. Citi is prioritizing data fixes that relate to 15 to 30 reports required by US regulators, he added.

Persons: —, Jane Fraser, Fraser, We've, Mark Mason, Mason, we've Organizations: Service, Citi, Business, Federal Reserve Board, Currency, OCC

☆ Citi has 12,000 employees dedicated to pleasing regulators and fixing the bank's broken tech. It is going terribly.
▼ + stars: | 2024-07-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In hopes of regaining compliance, CEO Jane Fraser bulked up a firm-wide initiative to overhaul the bank's technology. The head count for the so-called "Transformation" program has soared to 12,000 from some 3,000 since 2021, according to earnings reports. Citi's technology shortcomings are old news, according to Wells Fargo analyst Mike Mayo. Kathleen Martin, former interim data transformation chair, is suing the bank and Anand Selvakesari, the bank's chief operations officer who oversees Transformation.

Persons: —, Jane Fraser bulked, Wells, Mike Mayo, Mayo, Fraser, We're, We've, Jane Fraser, SAUL LOEB, Janney Montgomery Scott, Timothy Coffey, Kathleen Martin, Anand Selvakesari, Martin, Selva, Hayley Cuccinello Organizations: Service, Citigroup, Citi, Business, Federal Reserve Board, Revlon, OCC, Citi —, Federal Reserve, Reuters Locations: Wells Fargo, United States, Selva, hcuccinello@businessinsider.com

☆ Pressure is building on Wall Street’s most powerful woman to pull Citi out of the gutter
▼ + stars: | 2024-07-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Since September, when Fraser laid out her vision for a more streamlined Citigroup, the bank’s stock has shot up more than 50%. For the first time in nearly two decades, Wall Street appears to be feeling something almost like optimism about America’s third-largest bank. But speaking of Fraser’s tenure, Mayo sounded unusually sanguine about her progress in simplifying Citi’s notoriously labyrinthine corporate structure. Still, Mayo said the bank offers the “worst-in-class efficiency, returns and stock market valuation.”“I think she will pull it off. Of course, Fraser, who took over in March 2021, is still being haunted by the sins of Citi’s past.

Persons: CNN Business ’, Jane Fraser, —, Fraser, Revlon —, Jane Fraser’s, ”, Mike Mayo, “, ” Mayo, Mayo, “ It’s, I’m Organizations: CNN Business, New York CNN, Citigroup, Citi, Revlon, JPMorgan Chase, Bank of America, Wells Locations: New York, Wells Fargo

Meanwhile, Jefferies increased its price target on Ingersoll Rand. Nagel also lifted his price target by $10 to $120, which now suggests shares have upside of 25.6%. Analyst Jason Bednar kept his overweight rating on the dental health stock while slashing his price target by $45 to $330. — Alex Harring 5:56 a.m.: Jefferies raises Ingersoll Rand price target The outlook for Ingersoll Rand is looking brighter after a recent acquisition, according to Jefferies. Analyst Stephen Volkmann reiterated his buy rating on the industrial stock and raised his price target to $110 from $105.

Persons: D.A, Davidson, Jefferies, Ingersoll Rand, Oppenheimer, bullish, Brian Nagel, Nagel, — Alex Harring, Piper Sandler, Jason Bednar, Bednar, Howard Ma, Ma, Evercore ISI's Amit Daryanani, Stephen Volkmann, Fred Imbert, Rudy Kessinger, Kessinger, Palo, PANW, Alex Harring Organizations: CNBC, Palo Alto Networks, Nike, Technology, 2Q, Guggenheim, workloads, Jefferies, ILC, Palo, Network Security, Cloud Security, Security Locations: ILC Dover, Palo Alto, Palo

☆ Stocks making the biggest moves after hours: Oracle, Rentokil, Rubrik and more
▼ + stars: | 2024-06-11 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Oracle — The tech company's shares jumped nearly 9% after it announced cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results. Oracle posted adjusted earnings of $1.63 per share on revenue of $14.29 billion, while analysts expected earnings of $1.65 per share on $14.55 billion in revenue. Rubrik — Shares of the cloud data management company advanced 3% after beating first-quarter expectations on revenue. Rubrik reported $187 million in revenue for the period, while analysts polled by LSEG anticipated $172 million. Paramount — Shares slipped 0.4%, extending late-day losses.

Persons: LSEG, Rentokil, Nelson Peltz's Trian, Shari Redstone, Skydance, CNBC's David Faber Organizations: Oracle, Google, Nelson Peltz's Trian Partners, CNBC, Paramount, National

☆ This under-the-radar tech stock is a Gen AI 'enabler,' and analysts give it 40% upside
▼ + stars: | 2024-06-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Informatica , a U.S.-listed software developer, is well-positioned to benefit from the rise of artificial intelligence, according to analysts at Scotiabank. The California-headquartered firm last month launched its AI model — CLAIRE GPT — which is designed to help businesses use their data for generative AI applications. Generative AI, or GenAI, is the technology behind the hugely popular chatbot ChatGPT and other similar products. According to FactSet, the average price target of 16 analysts points to a 39% upside for the stock. RBC Capital analysts expect the stock to rise by 43% to $41 a share over the next 12 months.

Persons: CLAIRE GPT, Patrick Colville, FactSet, Matthew Hedberg, Salesforce Organizations: Scotiabank, The, RBC Capital, Microsoft, Data Management, RBC, Wall Street Journal Locations: Informatica, U.S, The California, Snowflake

☆ Stocks making the biggest moves before the bell: Robinhood, Nvidia, Lululemon, Five Below and more
▼ + stars: | 2024-06-06 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Five Below told investors to expect between $830 million and $850 million, while analysts polled by LSEG forecasted $883 million. Sprinklr — The business technology stock dove 21.1% in the wake of weak guidance for the current quarter and full year. StoneCo — The financial technology stock rose 2.6% following an upgrade to overweight from neutral by JPMorgan . Ultragenyx Pharmaceutical — The biopharma stock added nearly 4% following an upgrade to buy from neutral at Goldman Sachs. Shopify — The e-commerce technology stock slipped 1.6% on the back of a MoffettNathanson downgrade to neutral from buy.

Persons: Goldman Sachs, Smartsheet, LSEG, Sprinklr, Mizuho, there's, StoneCo, CH Robinson, Goldman, ISI's, Shopify, Guggenheim, —, Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Nvidia, LSEG, Revenue, Mizuho, JPMorgan, Ultragenyx Pharmaceutical, Goldman, eBay, Citi, UBS, BMO Capital, BMO, Viridian Therapeutics, ISI, Energy Locations: Americas

☆ ValueAct increases Salesforce stake to nearly $1 billion, sending shares up
▼ + stars: | 2024-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Mason Morfit, Salesforce board member and co-CEO of activist investor ValueAct, has increased his stake in Marc Benioff's software firm to just under $1 billion, acquiring $99 million worth of shares earlier this week, just days after the company reported its first revenue miss since 2006. The trade was disclosed in a regulatory filing Thursday, sending Salesforce shares up around 3.5% on the news in morning trading. The other activists eyeing Salesforce at the time included Elliott Management, Dan Loeb's Third Point, and Starboard Value. Earlier this year, Salesforce's widely reported pursuit of data management firm Informatica sent shares see-sawing before the putative target said it was not considering a sale. Salesforce shares briefly eclipsed their previous 2021 highs earlier this year, but have since given back those gains and are down 4% year-to-date.

Persons: Mason Morfit, ValueAct, Marc Benioff's, Morfit, Benioff's, eyeing Salesforce, Elliott, Dan Loeb's, Benioff, Salesforce's, Jeff Ubben, Bob Iger, Trian's Nelson Peltz, Ike Perlmutter, Salesforce Organizations: ValueAct, Elliott Management, Informatica, Microsoft, Marvel Locations: New York, U.S, Benioff

☆ Here's why privacy advocates say automakers are spying on drivers
▼ + stars: | 2024-06-05 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +3 min

Today's cars have an unprecedented capacity to surveil people inside and around them, and it's raising alarms with privacy advocates. A growing chorus of advocates and politicians say automakers aren't doing enough to protect consumer data from companies, criminals or even the government itself. "Our cars aren't a means of independence and privacy anymore," said Jen Caltrider, director of the Mozilla Foundation's Privacy Not Included program, in an interview with CNBC. GM, Nissan, Stellantis and BMW responded with statements saying they take customer privacy and data protection very seriously and comply with all applicable laws. In late April, two senators asked the Federal Trade Commission to investigate automakers for allegedly deceiving customers about the companies' data management practices.

Persons: Jen Caltrider, Caltrider, Nissan Organizations: General Motors, LexisNexis, GM, CNBC, Solutions, Mozilla Foundation, Mozilla, Nissan, BMW, Alliance, Automotive Innovation, Pew Research, Federal Trade Commission Locations: Florida

☆ Ericsson is shutting down its ad division, the latest in a long line of telco-adtech divorces
▼ + stars: | 2024-06-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Read previewSwedish telecommunications-equipment company Ericsson plans to shut down Emodo, the advertising business it launched in 2017, multiple people familiar with the matter told Business Insider. "Emodo was created in a strategic play for Ericsson to provide our telco customers with monetization opportunities through digital advertising," an Ericsson spokesperson said in a statement. Emodo had only this year brought on a new team to help it build AI-powered ad solutions for connected TV. The closure of Emodo marks the latest in a long line of telco-adtech collaborations that have bitten the dust. The Singaporean telecoms company Singtel divested its Amobee adtech division to the adtech company Tremor International, now known as Nexxen, in 2022.

Persons: —, Emodo, Andrew Rutledge —, DoubleClick, Matt Prohaska, Prohaska Organizations: Service, Ericsson, Business, CTV, Samsung, Verizon, Yahoo, AOL, Microsoft, Singtel, Prohaska Consulting Locations: Xandr

☆ Wells Fargo goes on quiet hiring spree to expand from lending. What it means for the stock
▼ + stars: | 2024-05-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

He added, "Wells Fargo could fetch a higher multiple in the market as a result." A Wells Fargo spokesperson declined to comment on the total number of CIB-related hires across all levels in the division. Wells Fargo and other banks have benefited in recent years as the Federal Reserve began hiking interest rates in March 2022. More recent data indicates that Wells Fargo's investment banking revenue share globally has jumped to No. A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.

Persons: Wells, Wells Fargo, JPMorgan Chase, Jeff Marks, Charlie Scharf, Scharf, Doug Braunstein, Braunstein, Fernando Rivas, Rivas, Jonathan Weiss, Weiss, Piper Sandler, Wells Fargo's Scharf, NII, Kroger, Scharf's, Scott Siefers, Siefers, Jim Cramer's, Jim Cramer, Jim Organizations: Wall, CNBC, JPMorgan, CIB, Wells, North American Investment Banking, Barclays, Deutsche Bank, Suisse —, Management, Federal Reserve, Fed, Albertson's, Federal Trade Commission, Currency Locations: Wells Fargo, Americas, U.S, IPOs, Wells, New York City

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