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☆ The inmate accused of stabbing Derek Chauvin 22 times was nearing the end of his current sentence
▼ + stars: | 2023-12-02 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

An inmate was charged Friday with stabbing ex-Minneapolis police Officer Derek Chauvin. Chauvin was convicted of murdering George Floyd and was serving his sentence in a federal prison in Arizona. The inmate, who nearing the end of a 30-year sentence, was accused of planning the attack. John Turscak stabbed Chauvin 22 times at the Federal Correctional Institution in Tucson and said he would have killed Chauvin had correctional officers not responded so quickly, federal prosecutors said. He became an FBI informant in 1997, providing information about the gang and recordings of conversations he had with other Mexican Mafia members and associates.

Persons: Derek Chauvin, Chauvin, George Floyd, —, John Turscak, Turscak, Eric Nelson, Nelson, Floyd, Black Organizations: Service, FBI, Federal Correctional Institution, Mexican Mafia, Prisons, FCI Tucson, Mafia Locations: Minneapolis, Arizona, Tucson, Minnesota, Los Angeles

☆ FDIC Faces Internal Reckoning Over Toxic-Culture Allegations
▼ + stars: | 2023-12-01 | by ( Rebecca Ballhaus | ) www.wsj.com time to read: 1 min

FDIC Chairman Martin Gruenberg appearing before a House committee last month. Photo: saul loeb/Agence France-Presse/Getty ImagesThe Federal Deposit Insurance Corp. is facing an internal reckoning over allegations of widespread harassment and discrimination, with many employees left skeptical about the agency’s commitment to overhaul its culture. In the weeks since a Wall Street Journal investigation revealed that a toxic culture at the FDIC had prompted many female bank examiners to quit over the years, there have been internal debates over who should oversee an external investigation and blowback from employees on multiple division-wide calls.

Persons: Martin Gruenberg, saul loeb Organizations: Agence France, Federal Deposit Insurance Corp, Street, FDIC

☆ Chinese hot pot chain Haidilao puts viral dance on menu
▼ + stars: | 2023-12-01 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —What is better than a warming meal of hot pot? A catchy dance routine to go with the Chinese cuisine, according to hot pot chain Haidilao. Haidilao, China’s largest hot pot chain, has recently offered a new dance performance as part of the dining experience across its 1,400 branches. It all started with a comment on a local Chinese online forum. And since hot pot is considered a communal experience, the restaurants sometimes offer plush toys as companions for solo diners.

Persons: ”, “, Haidilao, ” Haidilao Organizations: Hong Kong CNN, Jimu, CNN, Staff Locations: Hong Kong, Guangxi, Weibo, Britain

☆ PwC’s China and Hong Kong Units Fined in Training Exam Cheating Probe
▼ + stars: | 2023-12-01 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

More than 1,000 workers at PwC China and PwC Hong Kong engaged in training-exam misconduct from 2018 to 2020, according to the PCAOB. Photo: Alyssa Schukar for The Wall Street JournalThe Public Company Accounting Oversight Board fined PricewaterhouseCoopers’s China and Hong Kong units over training exam misconduct from hundreds of employees as part of its first set of enforcement settlements with audit firms in the region since it gained full access to inspect them late last year. PwC Hong Kong and PwC China agreed to pay a combined $7 million to settle claims that they failed to detect or prevent extensive and improper answer sharing on tests for mandatory internal training courses, the U.S. auditing watchdog said Thursday.

Persons: Alyssa Schukar Organizations: Wall Street, Company Locations: China, Hong Kong, PwC Hong Kong, U.S

☆ OpenAI delays launch of custom GPT store to early 2024
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsDec 1 (Reuters) - ChatGPT maker OpenAI has delayed the launch of its custom GPT store until early 2024, according to an internal memo seen by Reuters on Friday. During its first developer conference in November, OpenAI introduced the custom GPTs and store, which were set to be launched later that month. The company is continuing to "make improvements" to GPTs based on customer feedback, the memo said. The GPTs are early versions of AI assistants that perform real-world tasks such as booking flights on behalf of a user. It is also expected to allow users to share their GPTs and earn money based on the number of users.

Persons: Dado Ruvic, OpenAI, Sam Altman, Arsheeya, Shailesh Kuber, Arun Koyyur Organizations: REUTERS, Reuters, Thomson Locations: Bengaluru

☆ Russian lender Sovcombank eyes valuation of up to $2.5 bln post-IPO
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

A view shows a board with the logo of Sovcombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov Acquire Licensing RightsMOSCOW, Dec 1 (Reuters) - Russian lender Sovcombank said on Friday it expects a market capitalisation of 200-219 billion roubles ($2.24-$2.46 billion)after its initial public offering (IPO) on Moscow Exchange later this month, the latest in a small flurry of Russian market debuts. Sovcombank said it has already received offers for half of the expected overall offer size from a number of major Russian institutional investors to participate in the IPO. Russian companies have raised around 29 billion roubles this year through IPOs, with listings characterised by small volumes and the presence of domestic retail investors. Pawn broker Mosgorlombard also announced its intention to list on Friday, expecting a free float of 36% after an early-December debut.

Persons: Maxim Shemetov, Sovcombank, Dmitry Gusev, Mosgorlombard, Elena Fabrichnaya, Alexander Marrow, Guy Faulconbridge, Susan Fenton Organizations: St ., Economic, REUTERS, Rights, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Moscow, Ukraine, IPOs

☆ ChatGPT just turned one, and even some OpenAI employees can't believe the way its first year has played out
▼ + stars: | 2023-12-01 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

When it was first launched, OpenAI leaders framed it as a "low-key research preview." AdvertisementChatGPT turned one today, and if you're surprised by its impact, you're not alone — so are some OpenAI employees. Today, the term "low-key research preview" has become something of a meme among OpenAI's employees. OpenAI employees have even used the phrase as laptop stickers, per the Atlantic. "The outside world probably thinks we're all joking, but this actually was our 'low-key research preview,'" wrote Fedus.

Persons: ChatGPT, —, OpenAI, Google's Bard, Goldman Sachs, Greg Brockman, William Fedus Organizations: Service, UBS, Meta, Bloomberg

☆ Maker of Wegovy, Ozempic showers money on U.S. obesity doctors
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +23 min

Novo spent at least $25.8 million over the past decade on U.S. medical professionals to promote its two obesity drugs, Wegovy and Saxenda, the analysis found. Jastreboff has also worked on clinical trials of obesity drugs for Eli Lilly, which markets a Wegovy competitor. Some doctors said Novo’s payments exemplify how the flood of industry money can dominate decision-making about care and coverage. Government pharmacy officer Solaru said her agency concluded that the new obesity drugs could be cost-effective by preventing other weight-related diseases and boosting workplace productivity. In January, the personnel office told its health plans they must cover at least one GLP-1 obesity drug for 8 million workers, retirees and family members.

Persons: Lee Kaplan, Kaplan, ”, gastroenterologist, He’s, Novo, Donna Ryan, Ryan, “, ” Kaplan, ” Novo, Robert Lustig, “ I’m, Lustig, They’re, Ania, ” Jastreboff, Jastreboff, Eli Lilly, Lilly’s Zepbound, Lilly, ” Lilly, Novo’s, Ayana, Sanders, Arthur Kellermann, ” Kellermann, mouthpieces, ’ ”, “ I'm, Jamy Ard, Ard, Dele, ” Solaru, ” Ryan, Scott Kahan, Kahan, Solaru, Christine Gallagher, Wegovy, Rebekah Carl, Carl, Jen Wexler, gaunt, Wexler Organizations: Novo Nordisk, Dartmouth, Nutrition Institute, Massachusetts General Hospital, Harvard Medical School, Reuters, Cambridge, Obesity Society, U.S ., Management, Reuters . Pharmaceutical, ”, U.S, United, National Health Service, University of California, U.S . Food, Drug Administration, Doctors, Wegovy’s, BMI, Yale University’s Center, Weight Management, Wall Street, American Medical Association, Rutgers University’s School of Public Health, Affordable, . Pharmaceutical, Companies, Uniformed Services University of Health Sciences, Wake Forest University, Wake Forest Baptist Health Weight Management, Obesity, Pennington Biomedical Research, U.S . National Institutes of Health, Personnel Management, Coalition, STOP, George Washington University, Novo Locations: CAMBRIDGE, Massachusetts, Boston, U.S, Novo, Danish, United States, Louisiana, San Francisco, Wegovy, Pennington, Baton Rouge , Louisiana, Government, New Columbia , Pennsylvania, Florida

This case requires us to determine whether the same rule applies to police encounters that take place on a bus. The mere fact that Bostick did not feel free to leave the bus does not mean that the police seized him. This court is not empowered to forbid law enforcement practices simply because it considers them distasteful. We therefore believe the district court erred in relying on whether the conduct ‘seriously affect plaintiff's psychological well-being’ ... As for the victims, the government now has license to transfer property from those with fewer resources to those with more.

Persons: Sandra Day O'Connor, Bostick, —, James Acton, Bollinger, ”, Rumsfeld, ’, James Madison, impartially Organizations: Florida Supreme, Systems, Law, Ritz, Carlton Locations: Florida, Hudson, New York, Harris, Davis, Vernonia, Acton, America, Hamdi, City of New London, ‘

☆ At failed Gen Z underwear startup Parade, employee firings were often announced to the entire staff on Slack
▼ + stars: | 2023-12-01 | by ( Melkorka Licea | ) www.businessinsider.com time to read: +3 min

Underwear brand Parade, once valued at $200 million, sold to a lingerie manufacturer for "peanuts." AdvertisementIn August, the Gen Z favorite underwear startup Parade sold to lingerie manufacturer Ariela & Associates International for what one former employee described as "peanuts." Some former staffers said the way founder and ex-CEO Cami Téllez ran Parade contributed to its downfall. Staffers told Business Insider that some of leadership's tactics were particularly harsh, such as announcing employee firings to the entire staff on Slack. In its first year Parade exploded, reaching nearly 100,000 customers and making nearly $9 million in sales, Téllez said.

Persons: Cami, —, Cami Téllez, Slack, Kerry Steib, we've, Steib, Téllez, I'm, she'd Organizations: Service, Ariela, Associates International, AAI

☆ The world is splitting between those who use ChatGPT to get better, smarter, richer — and everyone else
▼ + stars: | 2023-12-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

There is growing evidence that artificial intelligence tools such as ChatGPT can make you more efficient and capable at work. And the effect will be particularly noticeable if no one else in the company is using AI in this way. All said that outsourcing time-consuming, small jobs to AI tools freed up their time. AI at work still needs careful handlingThere are obvious caveats to using AI to do your work for you. Some companies also have specific rules for AI tools due to fears around copyright or data security.

Persons: ChatGPT, —, OpenAI's, techies, Google's, Matt Calkins, Appian, It's, Shakespeare, Shona Ghosh Organizations: Service, Harvard Business School, Boston Consulting, Developers, Microsoft, Workers

☆ Please don't: People keep trying to open the exits on South Korean planes in mid-air, and airlines are asking them to stop
▼ + stars: | 2023-12-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

There have been three incidents with emergency exits on South Korean airlines in the last six months. There will be a pre-flight warning telling passengers not to open the emergency exits mid-flight, per JoongAng Daily. AdvertisementAfter three incidents in the last six months, South Korean airlines will have to warn passengers not to open the emergency exits mid-flight, according to local outlet JoongAng Daily. According to South Korea's Aviation Security Act, tampering with emergency exits is punishable by up to 10 years in prison. AdvertisementIt's not the first measure that South Korea has introduced to try to prevent further incidents.

Persons: —, hyperventilation Organizations: Service, JoongAng Daily, South Korea's Aviation Security, Korea Times, Asiana Airlines, Guardian, Korean Locations: Korea, Philippines, South Korea, New York, Incheon

☆ CNBC Daily Open: U.S. economy is cooling, but may not fall off a cliff
▼ + stars: | 2023-12-01 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Clearer brand messagingNew Gap CEO Richard Dickson said the apparel firm's products had got "lost in the message" in its discount-heavy online communication. [PRO] Top holiday pickThe Dow is nearing a major milestone — and certain members may lead the blue-chip average over the finish line. CNBC Pro screened for the Dow members with the largest upsides to average price targets among Wall Street analysts.

Persons: Korea's Kospi, Hong, Nelson Peltz, Ike Perlmutter, Morgan Stanley, James Gorman, Jeremy Darroch, Francis deSouza, Josh Kushner's, Richard Dickson, Dickson, Dow Organizations: CNBC, Nikkei, underperform, Dow Jones Industrial, Disney, Marvel, Sky, Peltz, CNBC Pro, Dow, Wall Street Locations: Asia, Pacific, underperform Asia

☆ AWS VP tells employees that the departures of senior engineers are 'making us better,' leaked transcript shows
▼ + stars: | 2023-12-01 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Some Amazon Web Services employees are concerned about a large number of departures among its senior engineers. At last month's internal staff meeting for AWS, VP of infrastructure services Prasad Kalyanaraman answered an employee question about turnover among senior engineers, according to a transcript of the meeting obtained by Business Insider. It is one of the many challenges AWS employees are currently dealing with, alongside slowing growth and a more bureaucratic culture, as BI previously reported . As we've previously told Insider, attrition among AWS employees has declined in recent years and to suggest anything otherwise is inaccurate. Amazon unveiled Amazon Q this week, an AI chatbot for businesses, and previously launched CodeWhisperer, a coding assistant for developers.

Persons: Prasad Kalyanaraman, Kalyanaraman, Rob Munoz, we've, Prasad, Munoz, Peter DeSantis, DeSantis, Charlie Bell, Rachel Thornton, Chris Vonderhaar Organizations: Web Services, Business, Amazon's, AWS

CNN —Veteran NHL forward Corey Perry apologized on Thursday for the “inappropriate behavior” which saw him waived by the Chicago Blackhawks. Corey Perry in a Thursday statement regarding his release from the Blackhawks. He was signed to a one-year deal in July and played in 16 games, scoring four goals and assisting on five others. “In the event Mr. Perry clears waivers, we intend to terminate his contract effective immediately,” the team stated. Perry has played in 1,273 NHL games while scoring 421 career goals.

Persons: Corey Perry, Perry “, Perry, “, ”, ” Corey Perry, Perry’s, Ethan Miller, Luke Richardson, ” – Organizations: CNN — Veteran NHL, Chicago Blackhawks, Blackhawks, “, CNN, Vegas Golden Knights, Columbus Blue Jackets, ‘ Hawks, NHL, Anaheim Ducks Locations: Perry’s Chicago

☆ Trump’s avalanche of dishonesty: Fact-checking 102 of his false claims from this fall
▼ + stars: | 2023-12-01 | by ( Daniel Dale | ) edition.cnn.com time to read: +111 min

Below is a fact check of 102 of Trump’s false claims from the 12 speeches. But contrary to Trump’s claim, it’s not true that people had been attempting for decades to create such an initiative. Trump’s aid to farmersIn speech after speech, Trump claimed that he had given US farmers $28 billion from China. Even if the poll result is off, it’s clear that Trump’s claim that “nobody wants them” is not true. He said he was an airline pilot.”Facts First: Trump made a false claim while mocking Biden for making false claims.

Persons: Donald Trump, –, Trump, Joe Biden, Biden, Ron DeSantis, Nikki Haley, “, ”, Mexico’s, ‘ Trump, Defense Department –, ” Theresa Cardinal Brown, CNN’s Priscilla Alvarez, ” Trump, I’ve, Todd Harrison, Harrison, It’s, Trump’s, ” Ben Cahill, Nobody, Jimmy Carter’s, Barack Obama, isn’t, El Salvador –, Obama, we’d, Obama’s, Webster, Covid, Wuhan ”, They’d, they’d, you’d, Scott Gottlieb, ” Gottlieb, Trump Trump, it’s, Abraham, Aaron David Miller, Miller, Dana El Kurd, Qasem Soleimani, they’ve, we’re, We’re, ’, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Kpler, Biden Trump, Iran “, Democrats ”, that’s, Jimmy Carter, Carter “, Carter, ‘, Hillary Clinton, Kari Lake, Bill Gates, Gates, ” Chris Wallace, Chris Wallace, Hunter Biden, “ Chris Wallace, ‘ He’s, ‘ ” Trump, Wallace, “ you’re, “ Biden, ‘ You’re, Wallace interjected, Rather, you’ve, ’ ” Pavel Molchanov, Raymond James &, ” Molchanov, Tim Woody, Woody, autoworkers, CNN’s Ella Nilsen, Joe Biden’s, Erin Mellon, Gavin Newsom, Mellon, ” Vonette Fontaine, Biden “, CNN’s Matt Egan, Egan, ” Biden, Europe Trump, United Kingdom “, Brent, Pavel Molchanov, Raymond James, Patrick De Haan, GasBuddy, De Haan, Matt Smith, Matt Egan, Afghanistan Trump, we’ve, Krista Wiegand, Wiegand, ” Netanyahu, Benjamin Netanyahu, Israel, Qasem, Bibi, Netanyahu, Soleimani, Asad, Mark Milley, Hezbollah Trump, Steven Cheung, John Kirby, Cheung, Kirby, Iran’s, ” Ali Vaez, Joseph Amon, Washington –, Faiq Zidan, Zidan’s, Zidan, Abu Mahdi al, China Trump, Ukraine Trump, Letitia James, James, Attorney Alvin Bragg, Matthew Colangelo, You’re, Bragg, Colangelo, Tanya Chutkan, I’m, Jack Smith, Bill Clinton, That’s, everybody’s, Letitia James –, Al Capone’s, Al Capone, Capone, Brad Schwartz, CNN couldn’t, Schwartz, Eliot Ness, MAGA, “ MAGA, …, White, CNN’s Fareed Zakaria, Inflation Trump, Bacon, Joe, PolitiFact, Trump . Howard Gleckman Organizations: Washington CNN —, CNN, Republican, Trump Trump, Republican Jewish Coalition, Department, ISIS, Trump’s, Democratic, Congress, Defense Department, former Defense Department, Center, US Customs, Trump, American Enterprise Institute, Air Force, Army, Navy, Marine Corps, Strategic Petroleum Reserve, Energy Security, Center for Strategic, International Studies, US, IHS, Islamic, The State Department, Customs Enforcement, Policy Institute, ICE, El Salvador, ”, Merriam, The New York Times, Food and Drug Administration, FDA, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, State Department, Carnegie Endowment, International, Arab Center Washington DC, Islamic Revolutionary Guards Corps Quds Force, Obama, US International Trade Commission, Washington Post, U.S . International Trade Commission, New England lobstermen, England lobstermen, Americas, Crisis, government’s Energy, Administration, Washington Free Beacon, Energy Information Administration, Democrats, Biden, Electoral, Georgia, Michigan, Carter, Democrats can’t, Republicans, Alabama, Arizona, Fox News, ” Energy, Oceanic, Atmospheric Administration, NOAA, Wildlife, Alaska Industrial Development, Export Authority, Raymond James & Associates, Wilderness Society, Cox Automotive, Pew Research Center, New York Times, National Oceanic, California Gov, California, American Petroleum Institute, Union, West, Energy, American Automobile Association, AAA, GasBuddy, New Hampshire, Houston, Keystone XL, Obama administration’s State Department, –, Foreign, Military, DoD, Afghan, Defense, Policy, Taiwan News, “, University of Tennessee’s Center for National Security, Foreign Affairs, Israeli, NBC, Jerusalem Post, Yahoo, Pentagon, ” CNN, Joint Chiefs, Staff, Post, National Security, Group, US government’s Defense Intelligence Agency, Narcotics Bureau, Global Health, Drexel University Dornsife School of Public Health, Justice Department, Washington, Judicial, Popular Mobilization Forces, Customs and, Middle East, Customs, Protection, CBP, Border Protection, Kiel Institute, European Union, New York, New, ExxonMobil, Trump University, Trump Foundation, Manhattan, Attorney, federal Justice Department, Department of Justice, Washington DC, Presidential Records, Presidential, Mar, Biden White, MAGA Republicans, Inflation, Heritage Foundation, Trump ., Brookings Tax, Urban Institute Locations: New Hampshire, New York City, Saudi, Florida, al Qaeda, New York, Texas, Iowa, Mexico, “, U.S, Houston, Iraq, Israel, Tel Aviv, Jerusalem, Nord, Germany, Russian, Trump’s, Russia, Ukraine, Europe, Guatemala, Honduras, El Salvador, El, Washington, ”, ” In Texas, Covid, China, Wuhan, Italy, France, Abraham, Bahrain, Morocco, Sudan, Gaza, Lebanon, Syria, Iran, Yemen, Libya, Palestine, Afghanistan, Somalia, Pakistan, New England, England, Kpler, Malaysia, Oregon, Alabama, Maricopa County, Arizona, Arizona’s, Moscow, Alaska, East, South Carolina, California, “ California, West Virginia, Virginia, United Kingdom, West Texas, “ U.S, Los Angeles, Venezuela, Mississippi , Louisiana, Canada, United States, Paris, Taiwan, “ China, Iranian, that’s, –, Singapore, Iraqi, San Diego, Kiel, York, Manhattan, York’s, Chicago, Philadelphia, Georgia, Qaeda

☆ Amazon broke federal labor law by calling Staten Island union organizers 'thugs,' interrogating workers
▼ + stars: | 2023-12-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Senator Bernie Sanders, an Independent from Vermont, left, speaks next to Christian Smalls, founder of the Amazon Labor Union (ALU), during an ALU rally in the Staten Island borough of New York, U.S., on Sunday, April 24, 2022. Amazon and consultants for the company violated federal labor law by interrogating and threatening employees regarding their union activities, and racially disparaging organizers who were seeking to unionize a Staten Island warehouse, a National Labor Relations Board judge ruled. In April 2022, employees voted to join the Amazon Labor Union, a grassroots group of current and former workers, becoming the first unionized Amazon facility in the U.S. The judge in New York heard testimony from Amazon employees, managers and labor consultants in virtual hearings that went on for almost a year. Amazon continues to challenge the JFK8 election results, as well as the NLRB and the union's conduct during the drive.

Persons: Bernie Sanders, Christian Smalls, Judge Lauren Esposito, Esposito, Daequan Smith, Bradley Moss, Moss, Smith, Natalie Monarrez, Monarrez, Monarrez . Moss, Chris Smalls, David Zapolsky, Amazon's, Smalls Organizations: Amazon Labor Union, National Labor Relations, NLRB, Amazon, Huffington, Department of Labor, BHM1, Retail, Wholesale, Department Store Union Locations: Vermont, Staten Island, New York, U.S, JFK8, unionizing, Bessemer , Alabama, Monarrez

☆ Amazon holds an exclusive meeting at its cloud conference to give 'XXL' customers like Salesforce a forum to air grievances
▼ + stars: | 2023-12-01 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

One in particular is open only to very important cloud customers: a meeting for "XXL" or "extra-extra-large" AWS users. Roughly 50 people attended the meeting, they said, including about a dozen AWS representatives and employees from eight large AWS customers, including Salesforce and Adobe. Not all of the largest AWS customers attended the meeting. Though the meeting is for important customers, AWS CEO Adam Selipsky did not attend, the people said. Do you have information or insight to share about AWS or other large cloud providers?

Persons: Adam Selipsky, Ellen Thomas Organizations: Web Services, AWS, Business, Venetian Convention, Expo, Adobe, FinOps Foundation, Microsoft, Google Locations: Las Vegas, ethomas@insider.com

Tom Werner | Digitalvision | Getty ImagesIf you elected not to participate in your company's 401(k) plan, your employer may have other ideas. The concept of 401(k) plan "reenrollment" has been gaining traction. Most companies, about 85%, direct workers' savings into target-date funds if they're automatically enrolled, according to PSCA data. Workers receive a notification from their employer ahead of reenrollments and have the chance to opt out or reduce their contribution. Employers' hope is that inertia will cause workers to stay in the plan rather than opt out.

Persons: Tom Werner, Digitalvision, reenrollments, Sean Deviney, they're Organizations: of America, Workers, Employers Locations: Fort Lauderdale , Florida, reenrollments

☆ BNY Mellon to raise minimum wage, add mental health benefits
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Dec 1 (Reuters) - BNY Mellon (BK.N) will increase its minimum wage next year to $22.50 an hour from $20 and expand mental health benefits for employees, the bank said in a statement on Friday. Bank of America (BAC.N) raised its minimum hourly wage to $23 in October, heading toward a goal of $25 by 2025. BNY Mellon will also expand its mental health benefits to cover 12 therapy sessions a year, expanding from five currently. "We want our employees to feel valued and know that they are being compensated competitively," said Sharyn Jones, BNY Mellon's global head of talent.

Persons: Brendan McDermid, BNY Mellon, Sharyn Jones, Lananh Nguyen, Sharon Singleton Organizations: REUTERS, BNY, Bank of America, Thomson Locations: New, U.S

☆ US manufacturing stays depressed in November-ISM
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Kamil Krzaczynski/File Photo Acquire Licensing RightsWASHINGTON, Dec 1(Reuters) - U.S. manufacturing remained subdued in November, according to a survey on Friday that also showed factory employment declining. The Institute for Supply Management (ISM) said that its manufacturing PMI was unchanged at 46.7 last month. According to the ISM, a PMI reading below 48.7 over a period of time generally indicates a contraction of the overall economy. This measure has not been a reliable predictor of manufacturing payrolls in the government's closely watched employment report. Manufacturing payrolls are expected to have rebounded in November as about 33,000 striking United Auto Workers union members returned to work.

Persons: Kamil Krzaczynski, payrolls, Lucia Mutikani, Chizu Organizations: REUTERS, Rights, Institute for Supply Management, PMI, Reuters, United Auto Workers, Thomson Locations: Normal , Illinois, U.S

☆ Linda Yaccarino doubles down on her support for Elon Musk in a new memo to staff: 'Our principles do not have a price tag'
▼ + stars: | 2023-12-01 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

X CEO Linda Yaccarino reminded employees of X's principles in a memo on Thursday. AdvertisementElon Musk — who in an interview on Wednesday told advertisers who fled X to "go fuck yourself" — has the full support of X CEO Linda Yaccarino. "Our principles do not have a price tag, nor will they be compromised — ever," she wrote. AdvertisementYaccarino, an ad world veteran, is reportedly being urged by ad executives to resign from the CEO position in order to save her reputation. Though, according to reporting, she is holding firm in the position — and doubling down her support for Musk.

Persons: Linda Yaccarino, Yaccarino, Elon Musk, Musk, —, Elon Organizations: Service, Wednesday, Bloomberg, Disney, Apple Locations: Wednesday's

☆ Competition will make obesity drugs successful
▼ + stars: | 2023-12-01 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

In an interview with the Financial Times, he proposed spreading reimbursements over time if the medication proves to be successful. There’s some practical grounding in that solution, but the path of other similar drugs suggests that a competitive market is a better way to make it successful. Snag is, the drugs cost several thousand dollars per patient annually, even after discounts. Medicare, which covers 66 million seniors, can’t pay for weight loss drugs under current law. While it makes more sense for insurers or governments to pay over time if the drugs benefits last, schemes like the one that Jørgensen suggests can only do so much.

Persons: Lars Fruergaard Jørgensen, Jørgensen, “, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, Novo Nordisk, Financial Times, Centers for Disease Control, Prevention, North Carolina, The New England, of Medicine, Employers, Thomson Locations: U.S, The, United States, Danish

CHARLESTON, W.Va. (AP) — A West Virginia coalition that helps support a network of anti-abortion pregnancy centers in the state is receiving $1 million in taxpayer dollars to distribute to organizations committed to encouraging people not to end their pregnancies. The West Virginia Pregnancy Center Coalition has been selected to manage the new West Virginia Mothers and Babies Support Program, the state department of health and human resources announced this week. Jim Justice earlier this year, officials said the program is intended to help support pregnant women and families following the passage of the state's near-total abortion ban in September 2022. As the West Virginia program's management agency, the West Virginia Pregnancy Center Coalition will be required by law to establish qualification requirements for organizations to receive funding, advertise the program and contract with organizations for services. The West Virginia Pregnancy Center Coalition will need to establish reporting requirements and an auditing procedure.

Persons: Jim Justice, Jenny Entsminger, ”, Matthew Christiansen Organizations: West Virginia, Virginia Pregnancy Center Coalition, GOP, Republican Gov, Pregnancy Center Coalition, Democratic, West Locations: CHARLESTON, W.Va, Virginia, West Virginia

☆ The No. 1 'desirable' trait CEOs look for in employees, says Harvard career expert: It's 'a huge currency'
▼ + stars: | 2023-12-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

The best employees aren't always the smartest or most confident people in the room. There's a different quality that helps high performers stand out, says Harvard Business School professor Ranjay Gulati: They're trustworthy. "Trustworthiness is the most desirable trait CEOs tell me they look for in their employees," he explains. "Trust is a huge currency in organization, it's the quality on which all professional relationships are built and how they thrive." You might instinctively understand what trust is, but two types are crucial in the workplace, according to Gulati: character-based trust, and competency-based trust.

Persons: aren't, Ranjay, Gulati Organizations: Harvard Business School

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