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Former Twitch CEO and cofounder, Emmett Shear, was named interim CEO of the company and Altman had joined former partner Microsoft. Altman was ousted from OpenAI in a shock board decisionAltman was immediately ousted from OpenAI in a dramatic board decision on Friday. According to a timeline provided by fellow OpenAI cofounder Greg Brockman, Altman received a text from board member Ilya Sutskever asking to talk at midday Friday. OpenAI board was 'optimistic' about getting Altman backInvestors, including Microsoft CEO Satya Nadella, were reportedly "blindsided" by the decision to remove Altman. Altman and Brockman join MicrosoftIn a final twist, Microsoft CEO Satya Nadella scooped up Altman and Brockman to lead "a new advanced AI research team" at Microsoft.
Persons: Sam Altman, kickstarting, Altman, , Emmett Shear, Greg Brockman, Ilya Sutskever, Brockman, Sutskever, OpenAI, Satya Nadella, Jason Kwon, Nadella, Shear, Mira Murati, Aleksander Madry, Szymon Sidor, Jakub Pachocki Organizations: Microsoft, Service, Twitch, OpenAI, Bloomberg, The
The GEP Global Supply Chain Volatility Index, produced by S&P Global and GEP, tracks supply chain orders which show rising spare supplier capacity as a result of a pullback in global demand. As President Biden meets with Chinese President Xi Jinping in San Francisco, the Asian manufacturing sector is experiencing a slowdown not seen since the 2020 peak of the Covid pandemic. The GEP index shows a depressed level of demand for raw materials, components, and commodities since manufacturing orders are down. A negative meeting would signal that firms may need to act faster to get in front of an evolving and changing U.S.-China relationship by adjusting their supply chain strategies." The NRF continues to call on the Biden Administration to restart a dialogue with China about the tariffs and ultimately remove them.
Persons: Biden, Xi Jinping, John Piatek, Piatek, Xi, Jon Gold Organizations: P, GEP's, International Monetary Fund, CNBC, Chain Survey, GEP, U.S, Biden, China, National Retail Federation, Biden Administration Locations: U.S, San Francisco, China, North America
RICHMOND, Va. (AP) — In a closing message to voters in this year's closely watched Virginia legislative elections, Republican Gov. Virginia is one of four states — the others are Louisiana, Mississippi and New Jersey — with legislative elections this year. The legislative candidates are running this year under maps redrawn during the last redistricting. He said he was “cautiously confident” about the possibility of a GOP trifecta — both legislative chambers as well as the governorship. Biden, who has not announced any plans to campaign in Virginia before Tuesday, recently sent a fundraising email on behalf of Virginia candidates and issued nearly two dozen endorsements.
Persons: Glenn Youngkin, Youngkin, , we'll, ” Youngkin, Youngkin's, Virginia's, It's, Roe, Wade, there's, ” Sen, Monty Mason, Danny Diggs, Democrat Joe Biden, Diggs, Virginia doesn't, , “ We're, ” Kay James, Rich Anderson, “ MAGA, “ MAGA Republicans ”, Donald Trump's “, Biden, , Heather Williams Organizations: Republican Gov, Republican, Democratic, Virginians, General Assembly, Supreme, Youngkin's PAC, GOP, Democrat, Republican Party of Virginia, Democrats, U.S . House, “ MAGA Republicans, Biden's, Republicans, Democratic Legislative Locations: RICHMOND, Va, Virginia, Louisiana , Mississippi, New Jersey, Southern, U.S, Richmond, Tidewater, Washington, Yorktown, Commonwealth
OpenAI CEO Sam Altman said he let his nerves get the better of him when he met Steve Jobs. In a resurfaced interview clip, Altman called Jobs his "childhood idol." The OpenAI CEO has more recently been compared to tech titans like Jobs. AdvertisementAdvertisementSam Altman once became deeply starstruck after meeting his idol, Steve Jobs. AdvertisementAdvertisementThe OpenAI CEO has become a star within the tech world after his company launched the viral chatbot ChatGPT.
Persons: Sam Altman, Steve Jobs, Altman, Organizations: Jobs, Service, Apple, Microsoft, Google, CNN Locations: Silicon Valley
Britain's anti-competition regulators have been tasked with investigating Microsoft and Amazon 's dominance of the cloud computing market. Media watchdog Ofcom on Thursday referred its inquiry for further investigation to the Competition and Markets Authority, kickstarting the process. "So, we're referring the market to the CMA for further scrutiny, to make sure business customers continue to benefit from cloud services." Ofcom is concerned that so-called "hyperscalers" like Amazon Web Services and Microsoft Azure are limiting competition in the cloud computing market. Combined, Amazon, Microsoft and Google generate roughly 81% of revenues in the U.K.'s cloud infrastructure services market, according to Ofcom, which estimates the market to be worth £15 billion ($18.2 billion).
Persons: Fergal Farragher Organizations: Ofcom, Microsoft, Media, Competition, Markets Authority, Amazon, CMA, Web Services, Google
Kevin McCarthy Ousted as House Speaker
  + stars: | 2023-10-03 | by ( Kaia Hubbard | Oct. | At P.M. | )   time to read: +6 min
The House narrowly voted to oust Kevin McCarthy on Tuesday, dooming the House speaker to a fate that seemed almost guaranteed since he took the gavel in January, with a group of rebels in his conference nipping at his heels. “The office of speaker of the House of the United States House of Representatives is hereby declared vacant,” the clerk announced as the vote concluded. A temporary speaker – Rep. Patrick McHenry of North Carolina – is expected to take over based upon a list of succession that McCarthy submitted in January, according to House rules . But in 2015, McCarthy’s speaker bid abruptly ended amid pushback from right-wing lawmakers who have long seen him as insufficiently conservative. I’m the 55th speaker of the House.”Without McCarthy at the helm, the House is expected to soon vote to elect another speaker.
Persons: Kevin McCarthy, McCarthy, Patrick McHenry of, Patrick McHenry of North Carolina –, McHenry, , McCarthy’s speakership, Washington ”, , Andy Biggs, Ken Buck, Tom Burchett, Eli Crane, Matt Gaetz, Bob Good, Nancy Mace, Matt Rosendale, Gaetz, motioned, it’s, ” Gaetz, ” McCarthy, ” McCarthy’s, McCarthy’s, Hakeem Jeffries Organizations: United States House, Democrats, Washington, Bakersfield, Republicans – Rep, GOP, Republican, California Republican, Florida Republican, Democratic, House Republican Locations: Patrick McHenry of North Carolina, California,
McCarthy Ouster Motion Advances to a Vote in the House
  + stars: | 2023-10-03 | by ( Kaia Hubbard | Oct. | At P.M. | )   time to read: +2 min
A motion to table a vote to oust Kevin McCarthy fell short on Tuesday, teeing up a vote to remove the speaker from his post and throwing the House into unprecedented territory. In a 218-208 vote, with 11 Republicans joining all Democrats, the motion to table did not pass, kickstarting debate on McCarthy’s fate, which was set to be determined by a vote later Tuesday. McCarthy, facing a motion to oust him from Rep. Matt Gaetz over his handling of the government shutdown threat, attempted to call the Florida Republican’s bluff on Tuesday as he requested the vote. Speculation for weeks has suggested that Democrats might throw McCarthy a lifeline in exchange for some unspecified concessions. “It is now the responsibility of the GOP members to end the House Republican Civil War,” Jeffries wrote in a letter to members of his caucus before the vote.
Persons: Kevin McCarthy, teeing, McCarthy, Matt Gaetz, , Bob Good, Gaetz, Hakeem Jeffries, ” Jeffries Organizations: Republicans, Democrats, GOP, House Republican Locations: Florida
Elon Musk expressed his disappointment in Ukraine's summer counteroffensive in an X post on Sunday. "So much death for so little," Musk wrote in his post. "So much death for so little," Musk wrote in a post on X, formerly Twitter, on Sunday. Musk, for his part, has weighed in many times on the war in Ukraine. Representatives for Musk did not immediately respond to a request for comment from Insider sent outside regular business hours.
Persons: Elon Musk, Musk, Elon, , David Sacks, Sacks, Andrii Melnyk, Anton Gerashchenko, Walter Isaacson, Jan Kallberg Organizations: Service, Sunday, NATO, SpaceX, Musk, Foreign Relations, Center for Locations: Wall, Silicon, Ukraine, Crimea, Russia
CNN —Abdulrahman Adesola Yusuf, the artist also known as Arclight, recalls growing up in a Lagos characterized largely by systemic issues and economic inequality. Artist Abdulrahman Adesola Yusuf uses vibrant colors and patterns in his artworks to depict what he sees as the contradictions of life in Lagos. Abdulrahman Adesola YusufFinding inspirationYusuf, 26, was destined to become an artist. "ORDER & LAGOS: (come on fly with a broken wing)" by artist Abdulrahman Adesola Yusuf, also known as Arclight. Abdulrahman Adesola YusufIn “ORDER & LAGOS: (come on fly with a broken wing),” Yusuf contrasts a bright blue sky as a backdrop with a Black man sitting with arrows piercing his wings.
Persons: Abdulrahman Adesola Yusuf, Lagos, Yusuf, , Magdiel Lopez, ” Yusuf Organizations: CNN, ART X Lagos, LAGOS, ORDER Locations: Lagos, Cuban, Nigeria
CNN —A fortnight ago, Motswedi Modiba was a South African singer showing signs of a promising career in her home country. Now she’s a breakout hit on one of China’s largest reality TV shows after wowing millions with her performance in Mandarin. Modiba, reported to be the first Black and African contestant on “Sing! Kickstarting a careerSouth African singer Motswedi Modiba, who goes by the stage name MOE. “Right now I’m in China, and I’m doing ‘Sing!
Persons: Motswedi Modiba, , Karen Mok, Modiba, Wilber Pan, Joker Xue, Kickstarting, Wethu, Tebs David, , Eli Zaleo, Modibe, she’s, ” Modibe, netizens, ” Modiba, I’m, “ I’m Organizations: CNN, Pretoria Chinese School, Yunnan Normal University, Metro FM Music, Manhattan School of Music, Rights Watch Locations: South African, China, Weibo, South, Tshwane, South Africa, Pretoria, Kunming, Manhattan School of Music , New York, TikTok, , Africa, Douyin, African
LAUNCESTON, Australia, Aug 1 (Reuters) - Bad news for China's economy appears to spell good news for commodities, with prices of copper and iron ore gaining on hopes for new stimulus measures after yet another weak indicator. Dalian Commodity Exchange contracts ended daytime trade 0.5% higher at 841.5 yuan per metric ton, snapping two sessions of declines. Imports are estimated at 101.39 million metric tons by commodity analysts Kpler and at 100.96 million by Refinitiv. If the official figure is in line with these estimates, it would be the strongest month for iron ore imports since January's 103.6 million metric tons. Inventories have dropped for five straight weeks and are now 10% below the 13.5 million metric tons for the same week in 2022.
Persons: Beijing's, Miral Organizations: PMI, London, Reuters Graphics, Singapore, Dalian, Exchange, Reuters, Thomson Locations: LAUNCESTON, Australia, Beijing, Shanghai
Women’s World Cup 2023: Live scores, fixtures, results, tables and top scorersCNN —The 2023 Women’s World Cup is now in full swing with teams entering the second round of fixtures from the group stage phase. Hinata Miyazawa scored a brace for the 2011 World Cup winner with Jun Endō, Mina Tanaka and Riko Ueki also kickstarting their Women’s World Cup goal tally. Spain vs. ZambiaOne of the early favorites for the 2023 Women’s World Cup is Spain, particularly after its strong showing against Costa Rica. The Iberian nation was totally in control of its World Cup opener and, despite winning 3-0, the result could have been even better. Canada vs. Republic of IrelandBoth Canada and the Republic of Ireland made disappointing starts to their 2023 Women’s World Cup campaigns.
Persons: Hinata Miyazawa, Jun Endō, Mina Tanaka, Riko Ueki, Maja Hitij, Roja, Spain's Esther González, Amanda Perobelli, Christine Sinclair, Steph Catley Organizations: CNN, Fox, Fox Sports, Telemundo, Peacock, Seven Network, Optus Sport, BBC, ITV, FIFA, Japan, Costa Rica Japan, Zambia, Costa, Reuters, Zambia –, Spain, Canada, Republic of Ireland, Sinclair Locations: Japan, Spain, Costa Rica, Zambia, Canada, Republic of Ireland, Australia, United Kingdom, Costa, Nigeria, Republic of
Hot Girl Walk is suing a company formerly known as Hot Girl Walk Miami for copyright infringement. The lawsuit claims that Hot Girl Walk Miami created confusion between the two brands. The Hot Girl Walk trend, which originated on TikTok, encourages four-mile outdoor walks for women. Hot Girl Walk asks that the pair be permanently banned from selling merch with the Hot Girl Walk Miami branding. The company also asks to recoup any profits made by their competitor while selling Hot Girl Walk Miami merchandise.
Persons: Monica Villegas, Lucia Di Tore, Lind, Amelia Lind, Villegas, Di Tore Organizations: Service, Miami, Walk Locations: Miami, Wall, Silicon, Delaware, Florida, Walk Miami
The Wagner rebellion weakened Russian President Vladimir Putin, experts say. His reduced standing could make him even less likely to order a nuclear strike in Ukraine. US officials stress that while Russia's occasional nuclear brinksmanship can be alarming, it appears to be purely rhetorical. "We haven't seen any change in Russia's nuclear posture," Secretary of State Antony Blinken told CBS in a June 25 appearance, a remark that comes not only after the Wagner revolt but Russia's decision to place some tactical nuclear weapons in Belarus. In recent weeks, Ukrainian officials have accused Russia of planning to sabotage the Zaporizhzhia nuclear power plant.
Persons: Wagner, Vladimir Putin, , hasn't, Russia wasn't, wasn't, Yevgeny Prigozhin, Wagner's, Putin, Hans Kristensen, hadn't, Kristensen, Antony Blinken, Volodymyr Zelenskyy, à, Pavel Podvig, Podvig Organizations: Service, Street Journal, Federation of American, CBS, United Nations ' Institute for Disarmament Research Locations: Russian, Ukraine, United States, Russia, nukes, Belarus, Ukrainian, Moscow
But rival European battery groups are still scarce, and global carmakers have more to gain than lose. Chinese battery suppliers like Contemporary Amperex Technology (CATL), SVOLT, Envision, and most recently EVE Energy (300014.SZ), are shaking up Europe’s e-mobility supply chains. At 4.5 billion euros, investments in projects to build new plants in Europe overtook spending on mergers and acquisitions. European battery makers will struggle to compete. Given the chance, Chinese battery makers can power up Europe’s own supply chains, and its auto companies too.
Persons: CATL, It’s, Bernstein, Emmanuel Macron, Tesla, Elon, Lisa Jucca, Thomas Shum Organizations: Reuters, Volkswagen, BMW, Volvo, Technology, EVE Energy, Shanghai Putailai, Energy Technology, Mineral Intelligence, Companies, Wall Street, LG, Samsung SDI, Union, Commission, EU, United, Mercedes, Benz, Elon Musk’s, Mercator Institute for China Studies, Thomson Locations: HONG KONG, China, People’s Republic, Europe, Shanghai, People’s, Sweden, United States, EU, Hungary, Spain
CNN —Priyanka Chopra Jonas’s journey in the limelight began in 2000 when she was crowned Miss World – thanks in part to a nudge from her younger brother, Siddharth Chopra. “We just had one guest room,” Chopra Jonas told Wallace, adding that their father said at the time, “‘She’s a young woman. “Technically, he got his room back.”The Miss World 2000 pageant put Chopra Jonas on an international stage that led her screen career we know today. Ultimately, she told Wallace, she wanted to “spread my wings” and began looking toward a move to America. (From left) Madhu Chopra, Priyanka Chopra Jonas and Siddharth Chopra in 2019 in Mumbai.
“I’m more concerned than I’ve been in a long time,” said Matt Anderson, managing director at Trepp, which provides data on commercial real estate. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp. Questions about the health of banks with sizable exposures to commercial real estate loans cause customers to pull deposits. That forces lenders to demand repayment — exacerbating the sector’s downturn and further damaging the banks’ financial position. The likeliest outcome is thought to be an uptick in defaults and reduced access to funding for the commercial real estate industry.
The lucky breaks that built Nike
  + stars: | 2023-04-08 | by ( Matthew Kish | )   time to read: +5 min
Fittingly as "Air" hits theaters, Nike will release an Air Jordan in "lucky green." "Luck plays a big role," Nike cofounder Phil Knight wrote in the closing of his 2016 memoir, "Shoe Dog." Athletes get lucky, poets get lucky, businesses get lucky." Knight wrote. Next Wednesday, Nike will release the "Black and Lucky Green" Air Jordan 1.
Elon Musk and other business leaders signed a letter urging a six-month pause in AI development. From the moment the public was allowed to start testing OpenAI's GPT-3 in November, there was no stopping the bullet train of generative AI development. And the power of market forces means that there's no stopping the pace of AI development, even if companies like OpenAI wanted to. The train has left the station, and there's no going backSince November, and arguably even before, generative AI has been the technology on everyone's lips. Even if we wanted to pause AI development, there's not a clear way to enforce itThere's also the problem of enforcement.
A decline in the annual inflation rate doesn't mean consumers saw deflation, which is when overall prices decrease. Categories with the largest changes in Decemberwatch nowWhile on the decline, the annual inflation rate remains at its highest since the early 1980s. Car and truck rental prices fell by 4.9%, while beef and veal prices fell by 3.1%, women's dresses by 2.3% and admission to sporting events by 1.5%. A decline in the inflation rate for electronics may seem counterintuitive when iPhones and other gadgets didn't necessarily come with steep discounts in 2022. Hourly wages have fallen by 1.7% in the past year, after accounting for inflation, according to the U.S. Department of Labor.
Disney’s next 100 years hinges on a metaverse
  + stars: | 2023-01-03 | by ( Jennifer Saba | )   time to read: +3 min
Walt Disney (DIS.N) in October will celebrate its 100th anniversary. In the past century, the Magic Kingdom’s theme parks have survived technological forces. Taking the real Disneyland as a blueprint for the metaverse that marries its brand and streaming ambitions is not hard to fathom. The idea expanded and now the company operates parks in Paris, Hong Kong, Shanghai, not to mention the Walt Disney World Resort in Orlando, Florida. In the year ending September 2018, the division had a chunky 25% operating margin and represented almost 40% of Disney’s total operating profit of $16 billion.
Walt Disney (DIS.N) in October will celebrate its 100th anniversary. In the past century, the Magic Kingdom’s theme parks have survived technological forces. The idea expanded and now the company operates parks in Paris, Hong Kong, Shanghai, not to mention the Walt Disney World Resort in Orlando, Florida. The theme parks, and their related consumer products, are an increasingly important part of the company. In the year ending September 2018, the division had a chunky 25% operating margin and represented almost 40% of Disney’s total operating profit of $16 billion.
"I never intended to create a robot of my own," Richard Chang, Roborock founder and CEO, said. Kickstarting an entrepreneurial journeyRoborockToday, Beijing-based Roborock is among the biggest robot vacuum manufacturers in the world. RoborockThe result was the launch in 2016 of the first Roborock robot vacuum cleaner the Mi Home Robot Vacuum Cleaner. Since then, Roborock has produced a steady stream of models that have continued to set the standard in robot vacuum technology, culminating in the Roborock S7 MaxV Ultra, which was featured on Time magazine's Best Inventions of 2022. It also allows users to operate their robot vacuum overnight, in complete darkness.
HKEX alum helps Macau take micro-step into finance
  + stars: | 2022-12-06 | by ( )   time to read: +2 min
HONG KONG, Dec 6 (Reuters Breakingviews) - Small is beautiful. Hong Kong’s former stock market Chief Executive Charles Li, key driver of the wildly successful bilateral Stock Connect programme between mainland Chinese bourses and Hong Kong, is kickstarting an asset exchange in Macau. Given Li’s experience running Hong Kong Exchanges and Clearing’s (0388.HK) HK$26 trillion ($3.35 trillion) securities market, his entry is a coup for Macau, which is increasingly desperate to diversify beyond gambling into finance. Talk of a yuan-based stock exchange has yet to bear fruit. Macau, which sits outside China’s capital controls like Hong Kong, may want to compete with its neighbour, but it has a long way to go.
European ministers to debate sharp increase in space funding
  + stars: | 2022-11-22 | by ( )   time to read: +3 min
[1/2] Logos of ArianeGroup and the ESA (European Space Agency) are seen on a rocket model at the entrance of the International Astronautical Congress (IAC) space exploration conference in Paris, France, September 19, 2022. Other initiatives include extending Europe’s global navigation system into low Earth orbit and kickstarting a new satellite mission, Harmony, to expand climate research. Ministers will seek to close a narrow funding gap for Ariane 6 rockets and discuss the future of emerging micro-launchers. In a recent interview, ESA Director General Josef Aschbacher urged rapid global action to tackle congestion in low Earth orbit including a ban on ASAT or anti-satellite weapons tests. Even without such threats, the sheer number of satellites and fragments of debris in low Earth orbit raises concerns.
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