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☆ The personal cybersecurity concierge is a new perk, and need, among the wealthy
▼ + stars: | 2024-07-26 | by ( Ellen Sheng | ) www.cnbc.com time to read: +4 min

Cybercriminals are increasingly targeting wealthy individuals, making cybersecurity concierges a new must-have for the rich and their families, including executives. While companies are spending heavily on cybersecurity, personal and home devices are generally less protected, making them easier to crack. And despite their sizeable assets and growing threat of cyberattacks, family offices and wealthy families don't think of themselves as targets because hackings are rarely publicized. JPMorgan Private Bank offers cybersecurity help to its ultra-high net worth clients, along with lifestyle and travel services. "I think one of the misconceptions is that — particularly for family offices — 'we're small and nobody notices us.'

Persons: Bill Roth, Jeff Bezos, Saudi Crown Prince Mohammed bin Salman, Lauren Sanchez, Bill Gates, Elon Musk, It's, Bobby Stover, Ernst & Young, They're, Anwar Visram, HardTarget, Ileana Van Der Linde, I've, Visram Organizations: Saudi Crown, Ernst &, JPMorgan, JPMorgan Private Bank, Asset, Wealth Management, CNBC Locations: WhatsApp, Tinder

☆ Inside the rocky marriage of hedge funds and top AI talent
▼ + stars: | 2024-02-27 | by ( Bianca Chan | ) www.businessinsider.com time to read: +11 min

AI researchers have struggled with hedge funds' culture around proprietary secrets, which goes against the open-source philosophy foundational to AI and academia. Some recruiters, including Michael Stover, are seeing double- and triple-digit growth in AI hiring among hedge funds and prop-trading firms. For heads of AI, he said, hedge funds are dishing out a minimum of $1.5 million in total comp. But perhaps the top reason hedge funds are interested in the technology is that AI capabilities are bait in the war for investing talent. It's one of the few large US hedge funds without an executive or centralized team dedicated to AI or machine learning.

Persons: Ken Griffin's Citadel, Li Deng, Deng, Ken, Ken Griffin, Michael Stover, Stover, ExodusPoint, Balyasny, Agni Ghosh, Stott, isn't, Sumeet Chabria, Conor Twomey, Tim Mace, Mace, May's Ghosh, it's, They're, Peter Finter, Finter, That's, Ghosh, you've Organizations: Microsoft, Business, Citadel, Milken Institute, Reuters, Millennium Management, Bloomberg, Balyasny Asset Management, Man, Bank of America, Wall, Wall Street, Tech, Google Locations: Chicago, Seattle, Beverly Hills , California, London, San Francisco, Silicon Valley, Wall

Some are sentenced to hard labor and forced to work – or face punishment – and are sometimes paid pennies an hour or nothing at all. While prison labor seeps into the supply chains of some companies through third-party suppliers without them knowing, others buy direct. The AP reached out for comment to the companies it identified as having connections to prison labor, but most did not respond. Corrections officials and other proponents note that not all work is forced and that prison jobs save taxpayers money. They also aren’t learning skills that will help them when they are released,” said law professor Andrea Armstrong, an expert on prison labor at Loyola University New Orleans.

Persons: They’re, they’ve, Russell Stover, Bunge, Louis Dreyfus, Archer Daniels, Cargill, ” McDonald’s, Mills, ” Bunge, they’re, ”, David Farabough, don’t, Andrea Armstrong, Columbia University’s Ira A, Lipman Organizations: Associated Press, Kroger, Target, Aldi, U.S, Walmart, Costco –, Washington, American Civil Liberties Union, AP, Maine Foods, Taylor Farms, Archer Daniels Midland, Consolidated, Foods, Corrections, Loyola University New Orleans, Public Welfare Foundation, Columbia, Lipman Center for Journalism, Arnold Ventures Locations: U.S, Idaho, In Kansas, Cal, Arizona, Tennessee , Arkansas, Ohio, Arkansas, Investigative@ap.org

For instance, the U.S. has blocked shipments of cotton coming from China, a top manufacturer of popular clothing brands, because it was produced by forced or prison labor. While prison labor seeps into the supply chains of some companies through third-party suppliers without them knowing, others buy direct. Cargill acknowledged buying goods from prison farms in Tennessee, Arkansas and Ohio, saying they constituted only a small fraction of the company’s overall volume. For instance, about a dozen state prison farms, including operations in Texas, Virginia, Kentucky and Montana, have sold more than $60 million worth of cattle since 2018. “What for?”FOLLOWING THE MONEYThe business of prison labor is so vast and convoluted that tracing the money can be challenging.

Persons: it’s, Willie Ingram, “ They’d, billy clubs, they’d, ”, Ingram, didn’t, they’re, don’t, Andrea Armstrong, Frank Dwayne Ellington, Ellington, Koch, “ It’s, it’s somebody’s, Alishia Powell, Clark, “, Bunge, Louis Dreyfus, Archer Daniels, Cargill, ” McDonald’s, Mills, ” Bunge, Burger, Jermaine Hudson, ” Hudson, Calvin Thomas, Thomas, Ken Pastorick, Pastorick, Jennifer Turner, Faye Jacobs, Jacobs, ’ ” David Farabough, they’ve, Joshua Sbicca, Cliff Johnson, Jimmy Dean, Sara Lee, Tyson, Brevard County Sheriff Wayne Ivey, that’s, ” Ivey, “ They’re, ’ ”, William “ Buck ” Saunders, Hickman’s, Brooke Counts, Counts, John’s, Jack Strain, Tammany Parish, Russell Stover, Curtis Davis, Robert Bumsted, Cody Jackson, Columbia University’s Ira A, Lipman Organizations: Louisiana State Penitentiary, The Associated Press, Walmart, Cargill, U.S, Kroger, Target, Aldi, Corrections, Loyola University New Orleans, Koch Foods, Occupational Safety, Health Administration, Washington, Archer Daniels Midland, Consolidated, AP, Foods, Dairy Farmers of, Big, Sam’s, Tyson Foods, U.S ., Civilian, OSHA, Fair Labor, American Civil Liberties, Colorado State University, MacArthur Justice Center, University of Mississippi, PepsiCo, Brevard County Sheriff, Arizona . Companies, Costco, Correctional, Prisons, Nut, Maine Foods, Taylor Farms, Transitional, Associated Press, Public Welfare Foundation, Columbia, Lipman Center for Journalism, Arnold Ventures Locations: ANGOLA, La, Southern, Louisiana, Texas, In Louisiana, Angola, United States, “, Ashland, U.S, China, Tennessee , Arkansas, Ohio, Dairy Farmers of America, Texas , Virginia, Kentucky, Montana, Baton Rouge, Mississippi, Manhattan, America, Alabama, American, Arkansas , Texas, Florida , Alabama, South Carolina, Georgia, Arkansas, In Alabama, Florida, Brevard County, Arizona, Wisconsin, California, Colorado, state’s St, Tammany, Idaho, In Kansas, Cal, St, Francisville , Louisiana, Feliciana, Investigative@ap.org

Stover is one of the leaders who helped design two generative AI tools for GE Appliance's SmartHQ app, including the SmartHQ Assistant and a recipe-generating tool called Flavorly AI. When using Flavorly AI, users can select a breakfast, lunch, appetizer, dinner, or dessert option for generating a recipe. Stover sees generative AI continuing to change the appliance industry, by making appliances more personalized for users. He also thinks there's an opportunity for generative AI in appliances to cross over into the wellness space. "I think there are teachable moments with generative AI.

Persons: Shawn Stover, Stover, there's Organizations: SmartHome Solutions, GE, GE Appliances SmartHome, GE Appliances, GE Appliance's, Google, Consumers

3 Ohio State rout Purdue 41-7 on Saturday. Purdue (2-4, 1-3) has lost two straight and four of five, this one against a severely short-handed Ohio State offense. McCord opened the scoring with a 14-yard TD pass to Marvin Harrison Jr., Brown added a 2-yard TD run on Ohio State's second series. After Brown fumbled the ball away at the goal line, McCord hooked up with Cade Stover on a 4-yard scoring pass to make it 20-0. ... Ohio State rushed for 4.2 yards per carry one week after averaging 1.9 against Maryland.

Persons: — Kyle McCord, Dallan Hayden, Ade, TreVeyon Henderson, Miyan Henderson, Emeka, Chip Trayanum, Hayden, Xavier Johnson, Devin Brown, McCord, Marvin Harrison Jr, Brown, Cade Stover, Deion Burks, Harrison, Stover, Devin Mockobee, Ryan Walters, Purdue's, Luke Griffin, Ryan Day, Burks Organizations: WEST LAFAYETTE, Ohio State, Purdue, Buckeyes, Ross, Ohio, Boilermakers didn't, Hudson Card, Boilermakers, . Ohio State, Maryland, Penn State, Division, AP Locations: Ind, Ohio, Georgia, Michigan, ., Nebraska

☆ Stripe, Shopify, H&M spend $7 million on carbon removal from a dozen new companies
▼ + stars: | 2023-09-07 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +6 min

Stripe, Shopify and H&M Group announced Thursday they are spending $7 million on carbon removal from a dozen carbon removal startups. Stripe, Shopify and H&M are three of the member companies of Frontier, and together, they spent $7 million on carbon removal purchases from 12 companies: Airhive, Alkali Earth, Banyu Carbon, Carbon Atlantis, CarbonBlue, CarbonRun, EDAC Labs, Holocene, Mati, Planetary Technologies, Spiritus Technologies and Vaulted Deep. Frontier facilitates carbon removal purchases for its member companies via multiple pathways, including pre-purchase agreements and offtake agreements. Zoom In Icon Arrows pointing outwards Mati is one of the dozen companies Frontier has facilitated carbon removal purchases from on behalf of Stripe, Shopify and H&M. Zoom In Icon Arrows pointing outwards CarbonBlue is one of the dozen companies Frontier has facilitated carbon removal purchases from on behalf of Stripe, Shopify and H&M.

Persons: Mati, Charm, stover, Joanna Klitzke, Klitzke, that's Organizations: M, Frontier, EDAC Labs, Planetary Technologies, Spiritus Technologies, Autodesk, JPMorgan Chase, McKinsey, Meta, CNBC, United Nations, & $ Locations: Mati, India, Gulf of Mexico

☆ JPMorgan agrees to purchase $200 million worth of carbon removal
▼ + stars: | 2023-05-23 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

JPMorgan Chase announced Tuesday that it has agreed to spend more than $200 million on a combination of carbon removal technologies. The investment in carbon removal and long-term contracts with carbon removal companies is both a move to support the still nascent carbon removal industry and will enable the bank to remove the equivalent of the carbon emissions that are otherwise hard to abate from its direct operations by 2030, JPMorgan said. Climeworks is one of the market leaders in direct air capture, a process akin to vacuuming carbon dioxide out of the air. The deal with Charm aims to remove and store the equivalent of approximately 28,500 metric tons of carbon dioxide over five years. The carbon removal and storage deliveries from Charm for JPMorgan have already started, the bank said.

☆ Charm gets $53 million to turn corn leftovers into oil and inject it into abandoned oil and gas wells
▼ + stars: | 2023-05-18 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

The 112,000 tons of carbon dioxide that Charm will remove is more than ten times the total quantity of carbon dioxide that has been removed so far with human techniques. "It's sort of a brilliant, but accidental, discovery," Reinhardt told CNBC. "It's a little it's a little odd or unusual, but uniquely American, in that we're basically pumping barbecue sauce into old oil and gas wells," Reinhardt told CNBC. There are about 2 million abandoned oil and gas wells in the U.S., and owner-operators are eager to find another use for them, Reinhardt told CNBC. We will run out of waste biomass long before we before we exhaust the subsurface capacity," Reinhardt told CNBC.

☆ Rich families skimp when it comes to cybersecurity, and it can cost them millions
▼ + stars: | 2023-04-01 | by ( Paige Hagy | Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

More than one-third of North American family offices experienced at least one cyberattack in the past 12 months in 2022, per Campden. It comes down to three problems, said Bobby Stover, who leads family office and enterprise services at Ernst & Young. When it comes to cybersecurity, family office principals are cheap, uneducated, and "don't want to deal with it," he told Insider. They cost anywhere from $25,000 to $65,000, and family offices often struggle to understand the benefit, according to Stover. One survey found an incident that cost a family office more than $10 million.

☆ Some brands are 'slack-filling' to cleverly disguise how much product you actually get
▼ + stars: | 2023-03-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

There's a name for that empty part of the packaging: slack-fill. Dworsky suggested that some brands used slack-fill to deliberately mislead shoppers into thinking they're getting more product than they really are. The firm noted that these lawsuits are generally dismissed, in part because it's hard to prove that slack fill is nonfunctional. Halo Top and Mondelez have been unsuccessfully sued over slack-fill, too, lawsuits viewed by Insider show. But slack-fill lawsuits aren't always dismissed.

☆ Valentine's Day chocolate boxes look big, but have more plastic than ever
▼ + stars: | 2023-02-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +5 min

Dworsky said his research shows the over-sized boxes deceive consumers into believing there’s more chocolate inside when there isn’t. Dworsky bought a 9.3-inches wide and 10-inches high Whitman's Sampler heart-shaped chocolate box, with 11 pieces of chocolate inside. Dworsky said a reader alerted him to the chocolate boxes a few days ago and sent him evidence of a heart-shaped Whitman’s chocolate sampler box. Swiss chocolate company Lindt & Sprüngli, which owns Russell Stover, Whitman’s and Ghirardelli brands, referred requests for comment to Russell Stover Chocolates. He said Dworsky had reached about to him about his most report looking at the Russell Stover and Whitman’s chocolate candy boxes.

☆ Overpacking, shrinkflation may mean you get less for your money for Valentine's Day gifts this year
▼ + stars: | 2023-02-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

That heart-shaped box of chocolates may be only half full this Valentine's Day. The issue was brought to Dworsky's attention this week when a reader who bought a box of chocolates wrote to express his outrage about the contents. Upon further investigation, Dworsky found Russell Stover and Whitman's Sampler chocolates, which sell for around $7.99, only contained between nine and 11 candy pieces, in the 9-inch-by-10-inch-size box. That leaves about two-thirds of the box seemingly empty, according to Dworsky. Whitman's and Russell Stover brands are sold by the Russell Stover Chocolates company, which did not immediately respond to a request for comment.

☆ You might not find as many chocolates in that last-minute Valentine's Day gift box as you did last year — blame 'slack-filling'
▼ + stars: | 2023-02-11 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +3 min

Federal regulations prohibit slack filling, but some claim its happening with Valentine's Day candy, the Washington Post reported. Valentine's Day candy prices have gone up nearly 10%, according to the Post. Federal regulations prohibit companies from over-packaging goods, and even refer to the practice of slack-filling by name. Still, some consumers say the practice of slack-filling chocolates seems to continue unabated in the Valentine's Day candy aisles of grocery and convenience stores. "You used to get a box of candy and it was packed with the candy, one right next to the other."

☆ Review: The $23,000 Hyundai Venue Denim compact SUV is an absolute steal for the price
▼ + stars: | 2021-09-09 | by ( Alanis King | ) www.businessinsider.com time to read: +12 min

But when a 2021 Hyundai Venue Denim recently showed up at my door for a two-week test drive, I realized maybe the Denim wasn't the ugly one. The Hyundai Venue Denim. Hyundai Venue Denim ($22,050): adds LED headlights as well as "Denim" appearance package with blue body, white roof, and blue interior. Blue, blue, blue. The Hyundai Venue Denim.

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