DIRS.INFO The most relevant business & tech news

☆ Argentina’s economy: What Milei’s chainsaw approach has delivered in a year
▼ + stars: | 2024-12-10 | by ( Hanna Ziady | Stefano Pozzebon | ) edition.cnn.com time to read: +9 min

London/Bogota/Buenos Aires CNN —Javier Milei swept to power in Argentina a year ago on a ticket to tackle chronic hyperinflation and overhaul the long-suffering economy. In one regard — slashing the size of the state — he has proven so successful that Donald Trump’s government efficiency tsars want to replicate his approach. Homeless people at the gates of the closed Retiro train station during a general strike on May 9, 2024, in Buenos Aires. But the adjustment has proved painful in a country where roughly every 10th person is employed in the public sector. But capital controls, which limit the flow of foreign currency into and out of the country, are giving investors pause.

Persons: Buenos Aires CNN — Javier Milei, Donald Trump’s, Natalia Burone, Lucas Aguayo, ”, Hans, Dieter Holtzmann, Friedrich Naumann, it’s, Milei —, Holtzmann, Milei “, Matteo Maffia, Milei, “, you’d, ” Maffia, I’m, Elon Musk, Vivek Ramaswamy, Donald Trump, Carlos Barria, Kimberley Sperrfechter, ” Milei, Luiz Inacio Lula da Silva, Luis Lacalle Pou, Ursula von der Leyen, Santiago Pena, Eitan Abramovich, European Union —, Flor Maffia, Diego Fenoglio, “ There’s Organizations: Buenos Aires CNN, International Monetary Fund, Investors, CNN, Monetary Fund, Friedrich, Freedom, Milei, “, of Government, America, KNG Securities, Capital Economics, South, Friedrich Naumann Foundation, Paraguay's, Mercosur, European Union, Bolivia — Locations: Bogota, Buenos Aires, Argentina, Latin America, Retiro, Brazil, Paraguay, Uruguay, German, United States, Palm Beach , Florida, Argentine, Spain, Montevideo, Bolivia, Europe

☆ 5 Citi lifers who made managing director on getting ahead at work and navigating the bank's massive 'transformation'
▼ + stars: | 2024-12-10 | by ( Emmalyse Brownstein | Reed Alexander | ) www.businessinsider.com time to read: +11 min

What would you say is the biggest change at the bank/your field since you joined? What is the biggest impact the bank's transformation has had on your approach to your job? What is the biggest impact the bank's transformation has had on your approach to your job? What would you say is the biggest change at the bank/your field since you joined? What is the biggest impact the bank's transformation has had on your approach to your job?

Persons: Jane Fraser, Fraser, Bridget Griffin Bridget Griffin, CAO, Supriya Ramamurthy, John Hogue John Hogue, It's, I've, Juan Francisco Orrego Echeverri Juan Francisco Orrego Echeverri, Darwin Yoanna Darwin Organizations: Citigroup, Citi, Business, Global, York, Supriya Ramamurthy Citi, Banking, New York, Citi Head, Citi Wealth, Juan Francisco Orrego Echeverri Juan Francisco Orrego Echeverri Citi, Costa Rica, Darwin Yoanna Darwin Citi Asia South Treasury, Trade Solutions, Corporate, Public Sector Locations: Hong Kong, Asia, New, Sydney, Australia, Singapore, Costa, Costa Rica, Spanish, Indonesia

☆ DOGE's Musk, Ramaswamy want Congress to pass huge spending cuts. That's a tough sell
▼ + stars: | 2024-12-06 | by ( Emily Wilkins | ) www.cnbc.com time to read: +6 min

watch nowWASHINGTON, D.C. — Entrepreneurs Elon Musk and Vivek Ramaswamy have an ambitious agenda to cut federal spending with the help of their outside advisory council, the Department of Government Efficiency (DOGE). Crisscrossing Capitol Hill together on a marathon day of meetings with lawmakers, Musk and Ramaswamy got warm welcomes from Republicans. Anna Moneymaker | Getty ImagesBut there was also an elephant in the rooms they visited: An unspoken understanding that Musk's stated goal of slashing federal spending by $2 trillion is already D.O.A. "Those are the kinds of things that we're also going to be looking at," Scalise told reporters after his meeting with Musk and Ramaswamy. Benoit Tessier | ReutersOnly when Republican President-elect Donald Trump takes office in January, and Senate Republicans take control of their chamber, can plans really begin to move ahead.

Persons: Elon Musk, Vivek Ramaswamy, Ramaswamy, Kat Cammack, Anna Moneymaker, Musk's, Steve Womack, Womack, M1A2 Abrams, Sean Gallup, Steve Scalise, we're, Scalise, Mike Johnson, Donald Trump's, Benoit Tessier, Donald Trump, Sen, John Cornyn, Susan Collins, we've, Collins, Joni Ernst, telework, Tom Williams Organizations: D.C, —, Department of Government Efficiency, Republicans, Government Efficiency, U.S, Capitol, Government, Congress, Social, FEMA, NASA, Customs, Border Patrol, CNBC, M1A2, U.S . Army, British Amphibious Engineer Battalion, NATO, Getty, Social Security, Ramaswamy, Department of Government, Reuters, Republican, Caucus, CQ, Inc Locations: WASHINGTON, Washington , DC, Gniew, Poland, La, U.S, Washington , U.S, Texas, Maine, Iowa

☆ The classic retirement model is dead, says self-made millionaire who retired at 34: 'You just have to count on yourself'
▼ + stars: | 2024-12-05 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

In 2012, the now 47-year-old self-made millionaire was earning enough in passive and portfolio income to retire from his 9-to-5 at age 34. Leg 1: Tax-advantaged savingsA vestige from the traditional model, a tax-advantaged retirement account, such as a 401(k), is still an essential tool for retirement savers, Dogen says. That could contribute to an early retirement, if that's your goal, or it could lift some of the burden off your tax-advantaged accounts for providing retirement income. If possible, Dogen says to contribute even more to these accounts than your maximum retirement contributions — an admittedly tall ask for many employees. But if you can, aim for this portion of your portfolio to double or triple your retirement accounts in value by the time you're 60 years old, he says.

Persons: Uncle Sam, Sam Dogen, Dogen, Roth Organizations: Social Security, of Labor Statistics, Roth IRA

☆ Democrats are urging Biden to cancel student debt for thousands of borrowers before Trump takes office
▼ + stars: | 2024-12-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

AdvertisementDemocratic lawmakers urged Biden to cancel student debt for defrauded borrowers before Trump takes office. Miguel Cardona urging him to discharge unprocessed borrower defense applications, which are applications student-loan borrowers can submit if they believe they were defrauded by the school they attended. AdvertisementWith President-elect Donald Trump taking office in under two months, the lawmakers said debt relief would become a lot more uncertain under his leadership. However, thousands of borrowers are still waiting for their borrower defense applications to be processed, and time is running out. AdvertisementThe Education Department did not immediately respond to a request for comment from Business Insider regarding where it stands with processing borrower defense claims.

Persons: Biden, Joe Biden, it's, Dick Durbin, Ed Markey, Maxine Waters, Miguel Cardona, Donald Trump, Biden's, Trump, Markey, Bobby Scott, Durbin, Preston Cooper, Cooper Organizations: Trump, Democratic, Sens, Sec, Department, Education, Biden, Education Department, Public, Biden's, Trump Administration, American Enterprise Institute, Department of Education, Business

☆ Okta shares pop 18% on earnings beat, strong guidance
▼ + stars: | 2024-12-03 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Todd McKinnon, CEO and co-founder of Okta, speaks during the BoxWorks 2019 Conference in San Francisco, California, on Oct. 3, 2019. Shares of Okta popped more than 18% in extended trading on Tuesday after the identity management company released third-quarter results that beat analysts' estimates and offered rosy guidance. Revenue: $665 million vs. $650 million expected by LSEG. "Our solid Q3 results were underpinned by continued strong profitability and cash flow," Okta CEO Todd McKinnon said in a statement. WATCH: CNBC's full interview with Okta CEO Todd McKinnon

Persons: Todd McKinnon, Okta Organizations: Okta, LSEG, LSEG ., Revenue, Nasdaq Locations: San Francisco , California

☆ Wisconsin Judge Strikes Down Limits on Public Sector Unions
▼ + stars: | 2024-12-02 | by ( Mitch Smith | ) www.nytimes.com time to read: +1 min

A Wisconsin judge on Monday struck down portions of a 2011 law that stripped most government workers in the state of collective bargaining rights and set off fierce demonstrations. The ruling by Judge Jacob Frost of the Dane County Circuit Court is certain to be appealed. “Restoring union freedoms to Wisconsin workers will strengthen Wisconsin’s middle class, lift up the voices of workers and lead to better public services for our communities,” said Stephanie Bloomingdale, the president of the Wisconsin AFL-CIO, in a statement. Republicans passed the law, known as Act 10, shortly after winning control of state government in the 2010 elections, arguing that limits on public sector unions were necessary to balance the budget and attract business investments. They advanced the legislation despite large-scale protests at the State Capitol in Madison and an attempt by Democratic lawmakers to scuttle the vote by fleeing to Illinois.

Persons: Judge Jacob Frost, ”, Stephanie Bloomingdale Organizations: Dane, Circuit, Democrats, Wisconsin AFL, State Capitol, Democratic Locations: Wisconsin, Madison, Illinois

☆ 'The data is very clear': One key element leads to increased happiness in retirement—3 ways to get it
▼ + stars: | 2024-11-29 | by ( Ryan Ermey | ) www.cnbc.com time to read: +7 min

"The data is very clear that public sector workers have better outcomes than private sector workers for that reason," she says. "There's a lot of indicators pointing to guaranteed income playing a big part in retirement confidence." The problem for many American workers: Forms of guaranteed income are getting rarer. If you have a well-diversified portfolio of high-quality dividend stocks, Dogen contends, you can essentially ignore the ups and downs of the stocks in your portfolio and focus on raking in the steady cash. Real estateUnder the right circumstances, owning rental properties can be a terrific way to earn steady income in retirement, Dogen says.

Persons: Bridget Bearden, It's, —, they've, it's, EBRI, Sam Dogen, Dogen, You'll Organizations: Research, of Labor Statistics, Social Security, CNBC

☆ When to quit working, take Social Security, and focus on yourself: Older Americans share their regrets about navigating retirement.
▼ + stars: | 2024-11-28 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

Many had regrets about retiring too early, taking Social Security prematurely, and draining savings. Regrets included retiring too early, taking Social Security benefits prematurely, and draining retirement savings too quickly. Kathleen RuddAt 62, she retired from a job paying almost $60,000 a year and opted to take Social Security early. Cashing out Social Security too fastSharon, 77, took Social Security too early, prompting her to unretire to cover expenses. Advertisement"If only someone had just said, do not take Social Security early, do not invest your money this way," Sharon said.

Persons: boomer, they've, Kathleen Rudd, Rudd, wasn't, David John, John, Misty Miller, Miller, it's, Sharon, Cindy Kohli, Kohli, reprioritize Organizations: Social, Social Security, AARP, Security, Social Security Disability Insurance, Veterans Affairs Locations: Colorado, Sacramento, Atlanta, Arizona

☆ Swiss Re: Majority of flood risks can be avoided using green infrastructure
▼ + stars: | 2024-11-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSwiss Re: Majority of flood risks can be avoided using green infrastructureVeronica Scotti, chairperson of public sector solutions at Swiss Re, discusses key developments from the COP-29 climate conference and explains the reinsurer's global risk analysis of flooding.

Persons: Veronica Scotti Organizations: Swiss, Swiss Re

☆ The financial path to the president's cabinet: Going from private to public sector
▼ + stars: | 2024-11-22 | by ( Pippa Stevens | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe financial path to the president's cabinet: Going from private to public sectorCNBC's Pippa Stevens joins 'Squawk on the Street' to discuss how people go from the private to public sector.

Persons: Pippa Stevens

☆ Parts of Russia are canceling New Year's parties to redirect funds to the war in Ukraine
▼ + stars: | 2024-11-21 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

AdvertisementOfficials in two Russian regions have said public bodies won't be holding New Year's parties this year. The regions said that they're planning to redirect funds to the war in Ukraine instead, per reports. The governments of several Russian regions have decided not to hold New Year's parties, with many proposing to allocate savings to funding the war in Ukraine, according to multiple reports. The Buryatia region's Telegram account proposed using the saved funds for those participating in the war, and encouraged others to do the same. There are signs that Russia's public sector is under strain, with large layoffs planned in 2025.

Persons: Leningrad's, Vladimir Putin Organizations: New, Moscow Times, Telegraph, Church, Russian Kommersant, Atlantic Council Locations: Ukraine, Russia, Buryatia, Sakha, Ulan, Ude, Russia's, Tomsk, Saint Petersburg, Yaroslavl, Nizhny Novgorod, Russian

☆ Wall Street awaits Nvidia's earning report for clues about the chip giant's future
▼ + stars: | 2024-11-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, all eyes are on Nvidia's earnings report after the bell and what it says about the chip giant's future. As the world's top provider of AI chips, demand for Blackwell is a bellwether for the industry's appetite for continued investment in AI. Reports of Blackwell chips overheating spooked the market earlier this week. AdvertisementIt's another cost companies investing in AI chips need to consider in addition to the energy required to fuel them, which has been a headache for tech giants . Barclays trimmed earning estimates next year by as much as 10% for some of the biggest buyers of AI chips, like Meta, Amazon, and Alphabet.

Persons: Jocko, we've, Getty, Tyler Le, It's, Matthew Fox, Blackwell, Jensen Huang, —, BI's Emma Cosgrove, There's, hasn't, Howard Lutnick ANGELA WEISS, Howard Lutnick, Cantor Fitzgerald, Julian Robertson, Tiger hasn't, Goldman, Vivek Bantwal, Goldman Sachs, Rebecca Zisser, Rob Kim, Arturo Holmes, Chelsea Jia Feng, Trump's, Elon, colluding, Gary Wang, Sam Bankman, Gina Raimondo, Antony Blinken, Bill Hwang, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Retired Navy, Nvidia, Blackwell, Barclays, Getty, Trump, New, Tiger Management, Partners, Companies, Alexa, Uber, Ticketmaster, Apple, Google, DOJ, International Network of AI, Archegos Capital Management Locations: New York, Silicon, San Francisco, Chicago, London

☆ Federal jobs are known for their stability. Now they could be in jeopardy as Musk pushes for deep spending cuts.
▼ + stars: | 2024-11-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Tech: We're in the middle of a white-collar recession, and tech workers are shouldering much of it . We're in the middle of a white-collar recession, and tech workers . AdvertisementElon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Tech jobs are mired in a recession. White collar hiring is in a huge slump, and tech workers are some of the hardest hit .

Persons: Trump hasn't, Tesla, Chelsea Jia Feng, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Allison Robbert, Scott Bessent, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Kevin Warsh, Trump, Goldman Sachs, Morgan Stanley, Natalie Ammari, Uber, Verily, —, Rebecca Zisser, Elon Musk, Bluesky —, Jake Paul's, Netflix's Jake Paul, Mike Tyson, wasn't, Donald Trump's, Satya Nadella, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Google, Trump, Tech, Getty, Elon, Department of Education, Veterans Affairs, Department of Government, Social Security, Medicare, Twitter, Getty Government, Allison, Treasury, BCA Research, Goldman, BI, LinkedIn, Microsoft, China Economic, Security, Walmart Locations: Washington , DC, China, Brazilian, New York, Chicago, London

☆ Government workers who want a new job amid Elon Musk's efficiency plans may have to tap the 'hidden job market'
▼ + stars: | 2024-11-19 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

AdvertisementWith the threat of cutbacks, some government workers might look to shift to the private sector. Experts advise networking and making résumé adjustments for transitioning to private sector roles. She said she's already seen an uptick in inquiries from federal workers looking to beef up their résumés and explore life in the private sector. Stepped-up job growth in the private sector could worsen problems that some government agencies have had in attracting people, according to Poulson, the attorney. He said he would advise public sector workers who have a choice to consider how careers in government often span many power shifts in politics.

Persons: Donald Trump, Ayanna Jackson texted, revamps résumés, Jackson, she's, Elon Musk, Vivek Ramaswamy, —, Laura Labovich, Labovich, You've, haven't, Richard Poulson, Willig, they've, Lisa Simon, Simon, it's, Poulson Organizations: White, AEJ Consulting, Department of Government, Williams, Davidson, Revelio Labs, Trump Locations: Washington, DC, Philadelphia

☆ Gen Z fell in love with government jobs. Elon Musk's budget cuts might upend them.
▼ + stars: | 2024-11-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

Elon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Business Insider's Ayelet Sheffey and Madison Hoff have a breakdown of the number of employees and salaries at different government departments . Veterans Affairs was the largest employer — 486,522 workers — and more than double the second-biggest department (Homeland Security's 222,539 employees). AdvertisementGovernment jobs' potential reckoning is happening after the public sector got a ton of attention this year. Pay in the public sector largely lags behind private-sector jobs, but that's somewhat offset by good benefits, retirement plans, and job stability.

Persons: Elon, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Department of Education, Veterans Affairs, Department of Government, Social, Medicare, Twitter Locations: Washington , DC, Elon Musk's, New York, Chicago, London

☆ Russia is locking up butter as inflation crisis reaches new heights
▼ + stars: | 2024-11-18 | by ( Analysis Tim Lister | ) edition.cnn.com time to read: +8 min

But price rises in Russia are eye-watering by comparison – and just one symptom of an economy that is overheating. “Prices are rising because of the war,” Alexandra Prokopenko at the Carnegie Russia Eurasia Center in Berlin told CNN. The military budget will rise by nearly a quarter in 2025, amounting to one-third of all state spending and 6.3 per cent of gross domestic product. Analysts don’t see the Russian economy as tumbling over a precipice but instead as a slowly gathering crisis. Russia has traditionally turned to central Asia for unskilled labor, and Putin recently suggested more foreign workers are needed.

Persons: ” Alexandra Prokopenko, Vladimir Putin, Putin, ”, Anton Vaganov, ” Prokopenko, Natalia Kolesnikova, Vladislav Inozemtsev, Prokopenko Organizations: CNN, Carnegie Russia Eurasia Center, “, Reuters, Russia’s Alfa Bank, Alfa, Monetary Fund, Russia’s State Statistics Service, Getty, Central, United Nations, UK Defense Ministry, Atlantic Council Locations: Russia, Ukraine, Berlin, Saint Petersburg, United States, Asia, Turkey, Russian, India, China, AFP, Moscow, Central Asia, East, South Korea, Dubai

☆ What the next Trump presidency could mean for US education
▼ + stars: | 2024-11-17 | by ( Katie Lobosco | Devan Cole | ) edition.cnn.com time to read: +12 min

Here are some of the things Trump has pledged and how or whether they could become reality:Abolishing the Department of EducationPledge: Trump has repeatedly said he will close the federal Department of Education, sending authority over education back to the states and saving taxpayer dollars. Trump has distanced himself from the policy paper, but a CNN review found that at least 140 people who worked in the first Trump administration were involved. How it could be done: It’s not clear how the Trump administration could achieve these goals. But the new Trump administration could set certain requirements that schools must meet to receive federal funding. The Trump administration could decide to rescind the repayment plan, which was created by a regulatory process.

Persons: Donald Trump, ”, “, Trump, Joe Biden, Betsy DeVos, Robert Enlow, Brian Snyder, ” Trump, Derrell Bradford, Biden, it’s, It’s, Vanessa Kelly, Thomas Toch, Georgetown University’s, ” Toch, Gene J, –, doesn’t, Congress –, Trump’s, Obama Organizations: Washington CNN —, ”, Department of Education, of Education, Education, Labor, Department of Health, Human Services, Heritage Foundation, CNN, of Education’s, Civil Rights, Department of Justice, Department of Treasury, Base Andrews, Reuters Universal, Trump, Vance, “, Fox Business, Republican, Children, IX, GOP, Biden, Department, Justice, Georgetown, Georgetown University’s McCourt School of Public, Penn State University, 8th, Public, Congress Locations: Maryland, Washington

“President Trump is going to hit the Justice Department with a blowtorch, and Matt Gaetz is that torch,” Steve Bannon, Trump’s former White House strategist, told NBC News. Sen. Lisa Murkowski, R-Alaska, said she didn't think Gaetz was "a serious nomination for the attorney general." From bitter experience, Trump knows that he needs an attorney general he can trust implicitly, and it might be worth the political capital to battle for Gaetz's confirmation. Little happened in Trump’s first term that angered him as much as Attorney General Jeff Sessions’ decision to recuse himself and appoint a special counsel to investigate whether there were links between his 2016 campaign and Russia. In Gaetz, Trump would get an attorney general who has said Trump won the election that year, as well as an iconoclast who shares his willingness to upset the status quo.

Persons: Donald Trump, Trump, Matt Gaetz, Steve Bannon, Trump’s, Pete Hegseth, Tulsi Gabbard, Tom Homan, Kristi Noem, Mount Rushmore, James Mattis, Mattis, John Kelly, Kelly, who'd, Hegseth, Donald J, ”, Max Stier, Gaetz, Kamala Harris, Sen, Lisa Murkowski, Kevin Cramer, Jeff Sessions, I’m, ” Trump, Robert Mueller, William Barr Organizations: WASHINGTON, Justice Department, Defense, Justice, White, Department, White House, NBC News, Fox News, Democrat, Trump, South Dakota Gov, National Guard, Partnership for Public Service, Senate, Republicans, FBI, CDC, ATF, DOJ, NBC, Washington Locations: Afghanistan, Iraq, Alaska, Russia

☆ Under strain from war, Russia plans a massive layoff in its public sector: report
▼ + stars: | 2024-11-12 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +3 min

Russia will resume public sector layoffs, affecting up to at least 40,000 workers, per Kommersant. Layoffs were paused due to COVID-19 and Russia's invasion of Ukraine. The cuts would also allow more people to enter Russia's labor market which is experiencing a worker shortage. The cuts would also allow more people to enter Russia's labor market which is experiencing a widespread shortage of workers amid Russia's invasion of Ukraine. Workers have been pulled into the Ukraine war or forced to flee after Putin enacted a major mobilization to increase wartime recruitment.

Persons: —, Vladimir Putin, Putin, Harley Balzer, Russian Central Bank Governor Elvira Nabiullina Organizations: Service, Russian Kommersant, Kommersant, Russian Academy of Science's Institute of Economics, Workers, Georgetown University, Russian Central Bank Governor Locations: Russia, Ukraine, Russian

☆ Meta's stock drop tells the wrong story on earnings — so, we're boosting our price target
▼ + stars: | 2024-10-30 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Don't let the after-hours stock action fool you, Meta Platforms delivered one heck of a strong third quarter and a current quarter revenue guide above expectations. Ok, now that the "bad" is out of the way, let's look at what investors should really be focused on as they consider what to do with Meta stock. Meta Platforms Why we own it : We value Meta Platforms for its targeted advertising dominance. Notably, Meta AI, the company's version of a ChatGPT-type generative artificial intelligence search/answer engine, now has over 500 million monthly active users. Looking ahead to 2025, the team noted on the release, "We continue to expect significant capital expenditures growth in 2025.

Persons: biggie, that's, China's ByteDance, Mark Zuckerberg, Jensen Huang, Zuckerberg, we're, Meta, it's, haven't, Jim Cramer's, Jim Cramer, Jim, Andrej Sokolow Organizations: LSEG, Meta, People, Management, China's, Reality Labs, Nvidia, ., Facebook, CNBC, Getty Locations: Ray, capex

☆ Britain's Labour government to deliver debut Budget this week, settling weeks of uncertainty
▼ + stars: | 2024-10-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

UK Finance Minister Rachel Reeves makes a speech during the Labour Party Conference that is held at the ACC Liverpool Convention Center in Liverpool, UK on September 23, 2024. LONDON — U.K. Finance Minister Rachel Reeves will deliver the government's hotly awaited debut budget on Wednesday, putting to bed weeks of uncertainty over potential tax hikes and spending cuts. Reports suggest that the Treasury could target public sector net financial liabilities (PSNFL) in the U.K.'s measure of debt, rather than public sector net debt. The PSNFL measure takes in a wider account of the government's balance sheet, including financial assets and liabilities, than public sector net debt. In a note Friday, Goldman Sachs estimated that the changes could increase the government's fiscal headroom by around £50 billion ($65 billion).

Persons: Rachel Reeves, — Labour's, —, Keir Starmer, Reeves, Goldman Sachs, Goldman sachs Organizations: Labour Party Conference, ACC Liverpool Convention Center, LONDON, Finance, Sky News, Financial Times, Treasury Locations: Liverpool

☆ Alleging ‘Russian special operation,’ Georgian president calls for protests over disputed election
▼ + stars: | 2024-10-27 | by ( Jill Dougherty | ) edition.cnn.com time to read: +4 min

Ivanishvili had vowed to ban the opposition if his party won the election, and his opponents are taking him at his word. On Saturday, as Georgians cast their ballots, thousands of Georgian and international election observers fanned out to voting precincts across the country, from urban centers to poor, remote villages in the Caucasus mountains, trying to evaluate whether the vote was free and fair. Throughout election day, video of violations, some of them egregious, like a man boldly jamming ballots into a ballot box, spread quickly. “She is on the right side of history,” said opposition politician Nika Gvaramia. The illiberal leader has found common cause with Georgia’s ruling party and was the first international leader to congratulate them after the election – even before the votes were officially tallied.

Persons: Georgia CNN —, Salome Zourabichvili, “, Georgia …, ”, oligarch Bidzina Ivanishvili, Ivanishvili, ISFED, John Shimkus, Margareta Cederfelt, Zourabichvili, Nika Gvaramia, Elene Khoshtaria, isn’t, Viktor Orban Organizations: Georgia CNN, Georgian, International Republican Institute, National Democratic Institute, International Society for Fair Elections, Democracy, “ Coalition Locations: Tbilisi, Georgia, Georgian, Russian, “, Gvaramia, Russia, ” Moscow, Hungarian

☆ Google, Adobe and IBM are aiming to help millions gain AI skills—here’s what to know
▼ + stars: | 2024-10-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

On Oct. 16, Google announced that it will award $15 million in new grants to two nonprofit organizations: The Partnership for Public Service and InnovateUS. The grants are part of Google.org's $75 million AI Opportunity Fund, an initiative aimed at helping upskill the U.S. workforce. The Partnership for Public Service will receive a $10 million grant to open the Center for Federal AI in the spring of 2025, according to a press release. The center plans to offer a federal artificial intelligence leadership program to help further educate government workers on how to evaluate potential use cases for AI and increase AI literacy. In September, Google also committed to investing $25 million in nonprofits focused on training educators and students around the U.S. on AI literacy and generative AI tools.

Organizations: Google, Public Service, Opportunity Fund, Federal AI Locations: Google.org's

☆ Iceland embraced a shorter work week. Here’s how it turned out
▼ + stars: | 2024-10-25 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Iceland’s economy is outperforming most European peers after the nationwide introduction of a shorter working week with no loss in pay, according to research released Friday. In two large trials between 2015 and 2019, public sector employees in Iceland worked 35-36 hours per week, with no reduction in pay. The trials involved 2,500 people — more than 1% of Iceland’s working population at the time — and were aimed at maintaining or increasing productivity while improving work-life balance. Following the trials, Icelandic trade unions negotiated reductions in working hours for tens of thousands of their members across the country. That is much higher than the country’s average growth rate of almost 2% in the decade between 2006 and 2015.

Persons: Alda Organizations: London CNN, Autonomy Institute, Iceland’s Association for Sustainability, Democracy, Iceland …, International Monetary Locations: Iceland, Europe, United Kingdom, Malta, United States, Ireland

Search resuls for: "Public Sector"

25 mentions found