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☆ A.I. is on a collision course with white-collar, high-paid jobs — and with unknown impact
▼ + stars: | 2023-07-31 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

And it has had various effects on the workplace, by displacing, changing, enhancing or creating jobs, experts said. "It is reaching up from the factory floors into the office spaces where white-collar, higher-paid workers tend to be." About 1 in 5 American workers have 'high exposure' to AIwatch nowwatch nowConversely, 23% of American workers have low exposure to AI, according to the Pew report. The remaining share of jobs — 58% — have varying AI exposure. It will also create new challenges and needs like retraining or reskilling; those may have knock-on effects, like child care needs for disadvantaged workers, Holzer said.

Persons: it's, Rakesh Kochhar, Kochhar, Harry Holzer, Holzer, Gene Kindberg, Hanlon, " Holzer, — Organizations: Pew Research Center, Department of Labor, Occupational Information, Georgetown University, federal Labor Department, Technology, World Bank, Pew Research, Business Locations: U.S

☆ Mattel's Barbie is a hit. Retailers and restaurants want in
▼ + stars: | 2023-07-29 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

Around that time, it started planning Barbie parties: Celebrations with themed cocktails, pink food and plenty of opportunities to show off Barbiecore outfits in the Instagram-friendly venue, including life-size hot pink Barbie and Ken boxes. By marketing Barbie products to adults, large retailers may be able to get them to buy similar products for kids. With Barbie products that appeal to grown-ups, marketers are “getting that interactivity between adults and children, that bonding,” which can also be used as a selling point. The clothing retailer offers a Barbie line that includes Gap and Barbie branded t-shirts, jackets and more, for both kids and adults. Nordhielm pointed to Cold Stone Creamery’s Barbie pink cotton candy ice cream as a standout.

Persons: Barbie ”, “ Barbie ”, Moshe Isaacian, Isaacian, Richard Drew, “, ”, Tim Calkins, Barbie, Ken, Leana Chavez, cabana, Lauren McCord, Christie Nordhielm, Richard Dickson, Richard B, Levine, Levine Roberts, “ Barbie, Oppenheimer, David Canales, David Reibstein, University of Pennsylvania’s Wharton, we’re, Mike Blake, ” Reibstein, “ it’s, Northwestern’s Calkins, Mattel, Chrissy Teigen Organizations: New, New York CNN, Twitter, Mattel, Warner Bros, CNN, Warner Bros ., Northwestern University’s Kellogg School of Management, Wunder, Georgetown University’s McDonough School of Business, Press, University of Pennsylvania’s, Reuters, Creamery Locations: New York, Wunder Garten, Washington , DC, Zara, Gran Via, Madrid, Malibu, Malibu , California

Wesleyan University, a liberal arts college in Connecticut, announced two weeks ago that it was ending legacy admissions. Many elite schools say legacy admissions are important for maintaining relationships with alumni, which can help universities raise money that is then available for financial aid to needy students. In a June 2018 legal filing in the case that led to the Supreme Court’s affirmative action decision, Harvard argued that “there would be substantial costs” to ending legacy admissions. Legacy students may donate more. In the American Sociological Review study, legacy students were about half as likely to apply for financial aid as admitted students who weren’t related to alumni.

Persons: Johns Hopkins, ”, Mickey Munley, “ It’s, “, Richard D Organizations: Wesleyan University, Carnegie Mellon, Harvard, American Sociological Review, Council, Advancement, Wesleyan, American Sociological, Georgetown University Locations: Connecticut, Amherst, Iowa, ”

The rule, which would implement a 2017 agreement by global regulators, aims to overhaul how banks gauge their riskiness, and in turn how much money they must keep on hand. Industry opponents have already begun to criticize the plan as banks seek to soften, delay, or otherwise derail the government's long-planned effort. The proposal would see U.S. regulators implement a previous global agreement via the Basel Committee on Banking Supervision. "Bank capital is critical," said Dennis Kelleher, president and CEO of Better Markets, which advocates for tougher financial rules. "However, maximizing Wall Street’s bonuses depends on minimizing capital and that’s why Wall Street fights to prevent regulators from requiring them to have enough capital."

Persons: it’s, Ian Katz, JPMorgan Chase, Morgan Stanley, Michael Barr, Barr, Joe Biden, Dennis Kelleher, Pete Schroeder, Susan Heavey Organizations: Federal Deposit Insurance Corporation, Federal, Industry, Washington, Capital Alpha Partners, JPMorgan, Banking Supervision, Citizens Financial, Bank, Better, Thomson Locations: U.S, Basel, Huntington, that’s

[1/3] FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File PhotoNEW YORK, July 25 (Reuters) - U.S. banking giants may take up to four years to set aside profits to meet new capital rules, according to a report by Morgan Stanley. U.S. banking regulators will on Thursday unveil a sweeping proposal for stricter bank capital requirements known as the "Basel III endgame" aimed at ensuring the stability of big banks under international rules rolled out after the 2008 financial crisis. Holding more RWA will require banks to set aside more capital under the new standards. Most of the need to raise capital would come from assessments of the bank's operational risks and their trading books.

Persons: Morgan Stanley, Lucas Jackson, Betsy Graseck, Goldman Sachs, JPMorgan Chase, Morgan, Michael Barr, Tatiana Bautzer, Pete Schroeder, Lananh Nguyen, Chris Reese Organizations: New York U.S, REUTERS, Citigroup, JPMorgan, Bank of America, Federal, Federal Reserve, Federal Deposit Insurance Corporation, Thomson Locations: New York, Basel, Washington

☆ Why big banks like JPMorgan and Citi want to put Wall Street on a blockchain
▼ + stars: | 2023-07-26 | by ( Jordan Smith | ) www.cnbc.com time to read: +1 min

Banking titans such as JPMorgan and Citi want to supercharge Wall Street by borrowing a tool from crypto — tokenizing assets on a blockchain. The firm projects $5 trillion in assets could be tokenized on blockchains over the next five years. It takes time to transfer ownership of an asset on Wall Street. U.S. agencies like the Securities and Exchange Commission are cracking down on crypto companies. Watch the video above to learn why big banks are spending millions on tokenization.

Persons: Elliot Han, Cantor Fitzgerald, Bernstein, Banks, James Angel, Gary Gensler Organizations: Banking, JPMorgan, Citi, Georgetown University, Securities and Exchange Commission Locations: U.S

That special fee, which the FDIC proposed in May, would be assessed based on their uninsured deposits at the end of 2022. The regulator said some banks were "not reporting estimated uninsured deposits in accordance with the instructions." A July 6 report by S&P Global noted 55 banks restated their fourth-quarter uninsured deposits in FDIC reports, more than twice the norm. Specifically, the FDIC reminded banks they must report uninsured deposits backed by pledged assets as well as uninsured deposits held at their own subsidiaries. “Earlier this year, we identified certain internal or intra-bank accounts that shouldn’t have been reported,” Bank of America spokesman Bill Halldin said.

Persons: Zions, Paul Burdiss, Bill Halldin, Bank spokespeople, Niket, Pete Schroeder, Tatiana Bauzer, Shweta Agarwal, Megan Davies Organizations: U.S, Federal Deposit Insurance Corporation, Valley Bank, FDIC, P Global, Bank of America, ” Bank of America, P, Huntington National Bank, Bank, Bank Policy Institute, Thomson Locations: Bengaluru, Washington

☆ The US economy's brief moment of slowing inequality might be on its way out
▼ + stars: | 2023-07-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Income inequality has narrowed in the US, with low-wage workers receiving raises during the pandemic. This trend has been tapering off, though labor market competition has benefited wage growth. This was thanks to pre-pandemic minimum wage legislation, coupled with higher raises for lower wage workers in the tumultuous years that followed. Although low-wage workers have slightly narrowed the gap, corporate profits have boomed, allowing those at the very top to stay separated from the rest. In June 2022, low-wage workers saw 7.2% wage growth from the prior year, falling to 6.5% in June 2023.

Persons: It's, David Autor, Ford, Autor, Harry Holzer, John LaFarge Jr, SJ, Georgetown University's, Holzer, Biden, " Holzer Organizations: Service, National Bureau of Economic Research, Federal Reserve Bank, Dallas, MIT Department of Economics, American Bar Association, Public, Georgetown, Georgetown University's McCourt School of Public, Federal Reserve Bank of, Economic Policy Institute Locations: Wall, Silicon, Federal Reserve Bank of Atlanta

The legal push comes just weeks before the Centers for Medicare & Medicaid Services is scheduled to publish a long-awaited list of the first 10 drugs that will be subject to negotiations. Earlier this month, the chamber asked a federal judge in Ohio to issue an injunction that would block any negotiations while its case is being heard. Lawrence O. Gostin, an expert in public health law at Georgetown University, said the Supreme Court might be sympathetic to some of the industry’s arguments. The president and Democrats have long campaigned on reducing drug prices and plan to make it a central theme of their 2024 campaigns. The White House press secretary, Karine Jean-Pierre, said in a statement that Mr. Biden was confident the administration would win in court.

Persons: Lawrence O, “, Mr, Gostin, Biden, Karine Jean, Pierre Organizations: Medicare, Medicaid Services, Georgetown University, Supreme, White Locations: Ohio

The proposal, which will kick off an ambitious agenda for Barr, plans to fully implement the globally agreed Basel bank capital agreement. BANKING OPPOSITIONThe banking industry is not waiting for details before trying to disrupt the effort, arguing it could hinder economic activity, curb lending, and kill lines of business. The criticism is also emerging among some Republican bank regulators, who appear likely to oppose the plans. Regulators will have to digest numerous and voluminous comments from the banking industry dissecting their plans. And in the meantime, banks are expected to continue hammering that higher capital requirements means a smaller economic role for banks and are not needed.

Persons: Michael Barr, Barr, Michael Barr's, Isaac Boltansky, Spokespeople, Kevin Fromer, Jerome Powell, Powell, Republican Andy Barr, Bill Foster, Tim Scott, Michelle Bowman, Barr's, Morgan Stanley, James Gorman, Pete Schroeder, Megan Davies, Andrea Ricci Organizations: Banking, Fed, Federal Deposit Insurance Corporation, Office, FDIC, Financial Services, Financial Services Committee, Republican, Senate, Committee, Regulators, White, Thomson Locations: Basel

WASHINGTON, July 19 (Reuters) - The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186 million for failing to sufficiently address money laundering and other shortcomings flagged by the U.S. central bank. The Fed identified the previous issues in 2015 and 2017 consent orders, which stemmed from deficient controls in Deutsche's relationship with the Estonian branch of Danske Bank which ended in 2015. In December, Danske Bank pleaded guilty to a bank fraud conspiracy and agreed to forfeit $2 billion to settle a long-running Department of Justice probe into billions of dollars of illicit payments. In its latest order, the Fed said it found a "significant portion" of the $276 billion in transactions Deutsche cleared for Danske involved "high-risk non-resident customers." Shortcomings in Deutsche's policies on money laundering persisted after its relationship with Danske ended in 2015, the Fed said.

Persons: Biden, Danske, Pete Schroeder, Richard Chang Organizations: Federal, Deutsche Bank, U.S, Fed, Danske Bank, of Justice, Danske, Thomson Locations: Estonian, Estonia, Russia

☆ Medicare proposes removing limit on PET scans used to help diagnose Alzheimer's disease
▼ + stars: | 2023-07-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Right now, the program for seniors will only cover one PET scan per lifetime for patients participating in clinical trials. The Medicare proposal would allow regional organizations, called Medicare Administrative Contractors, to decide whether to cover the diagnostic tool. It is still unclear when the decision on PET scans will be finalized. PET scans are a crucial diagnostic tool that detect an amyloid protein on the brain that is associated with Alzheimer's disease. People on Medicare generally pay 20% of the cost of a PET scan after meeting their deductible.

Persons: Jay Reinstein, Chiquita Brooks, LaSure Organizations: Georgetown University Hospital, Contractors, Centers, Medicare, Services Locations: Washington , DC, U.S

☆ Why college is getting more expensive
▼ + stars: | 2023-07-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

After adjusting for currency inflation, college tuition has increased 747.8% since 1963, the Education Data Initiative found. But the net price of college — that’s the amount that students and their families are actually shelling out — has been decreasing. The average student at a private four-year college paid $32,800 for tuition and room and board last year. When adjusted for inflation, the actual price paid for private college has dropped by 11% over the past five years, according to College Board data. In a 6-3 decision the Supreme Court struck down the Biden administration's student debt forgiveness program in Biden v. Nebraska.

Persons: Brian Snyder, ”, Megan Brenan, Catharine Hill, “, —, couldn’t, ’ ”, they’ve, Kevin Dietsch, Joe Biden’s, Biden Organizations: New, New York CNN, College, US News, Harvard University, Harvard, Reuters, Education Data Initiative, Georgetown University Center, Education, Gallup, Vassar College, “, ”, National Education Association, Foreign Relations, Economic, Institute, luxe, ” Colleges, American, of Trustees, NEA, College Board, U.S, Supreme, Biden, . Nebraska Locations: New York, Cambridge , Massachusetts, United States, “, Washington , DC, .

☆ I was a scholarship kid at an elite boarding school. It changed my life, but I'd never send my own kids away.
▼ + stars: | 2023-07-14 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

Kelly Johnson-Arbor said boarding school stabilized her life and helped her overcome shyness. While she had a positive experience, she decided not to send her own children to boarding school. The school gave me extra confidence and a great education, but I don't think boarding school is the right fit for everyone. She had friends who sent their kids to boarding schools, and she wanted me to have that experience. My children are 10 and 12, and given their more comfortable upbringing, I couldn't picture sending them away to boarding school.

Persons: Kelly Johnson, Arbor, Phillips, didn't, Phillips Exeter, I'd, I'm, weren't, Exeter, I've Organizations: Phillips Exeter, Service, Capital Poison Center, MedStar Georgetown University Hospital, Phillips Exeter Academy, Niche, East Coast, Andover, Harvard Locations: Wall, Silicon, Washington , DC, America, Anchorage , Alaska, Exeter , New Hampshire, Alaska, Exeter

☆ I went to Phillips Exeter, one of the most elite boarding schools in America. It changed my life, but I wouldn't send my kids there.
▼ + stars: | 2023-07-14 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

While she had a positive experience, she decided not to send her own children to boarding school. I went to Phillips Exeter Academy , which is ranked by Niche as the third-best boarding high school in America . The school gave me extra confidence and a great education, but I don't think boarding school is the right fit for everyone. She had friends who sent their kids to boarding schools, and she wanted me to have that experience. My children are 10 and 12, and given their more comfortable upbringing, I couldn't picture sending them away to boarding school.

Persons: Kelly Johnson, Arbor, Phillips, didn't, Phillips Exeter, I'd, I'm, weren't, Exeter, I've Organizations: Service, Capital Poison Center, MedStar Georgetown University Hospital, Phillips Exeter Academy, Niche, East Coast, Andover, Harvard Locations: Wall, Silicon, Washington , DC, America, Anchorage , Alaska, Exeter , New Hampshire, Alaska, Exeter

May enroll in U.S. Bank Smart Rewards if you meet certain requirements Cons Dash icon A dash. Savings Account 3.75 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY) 0.03% Minimum Deposit Amount $25 Fees $1 Start savingSantander® Bank, N.A. Savings Account 3.75 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY) 0.03% Minimum Deposit Amount $25 Fees $1 View Full Details Start saving On Santander Bank's site. Low APY Dash icon A dash. $5 maintenance fee per quarter if you don't have at least $5 in your account Dash icon A dash.

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☆ A Great, Destructive Migrant Mess
▼ + stars: | 2023-07-13 | by ( Daniel Henninger | ) www.wsj.com time to read: 1 min

Daniel Henninger's weekly column, “Wonder Land,” appears in The Wall Street Journal each Thursday. Mr. Henninger was a finalist for a Pulitzer Prize in editorial writing in 1987 and 1996, and shared in the Journal's Pulitzer Prize in 2002 for the paper's coverage of the attacks on September 11. In 2004, he won the Eric Breindel Journalism Award for his weekly column. He has won the Gerald Loeb Award for commentary, the Scripps Howard Foundation's Walker Stone Award for editorial writing and the American Society of Newspaper Editors' Distinguished Writing Award for editorial writing. He is a weekly panelist on the "Journal Editorial Report" on Fox News.

Persons: Daniel Henninger's, ”, Henninger, Eric Breindel, Gerald Loeb, Scripps Howard Foundation's Walker Organizations: Scripps, American Society of Newspaper, Fox News, Georgetown University’s School of Foreign Service Locations: Cleveland

☆ Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds
▼ + stars: | 2023-07-12 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Some of the tax-prep companies still do not know whether the data they shared continues to be held by the tech platforms, the report said. The Warren aide told CNN it was unclear whether Meta knew it was inappropriately using taxpayer data at the time. The investigation found that all three tax-prep companies had discontinued their use of Meta’s pixel after The Markup’s report last November. “The scope of ‘taxpayer information’ is broad by design,” Rosenthal said, adding that tax-prep companies can be sued for “knowingly” or “recklessly” leaking that information. Depending on the strength of the allegations, the tax-prep companies could quickly be forced into a binding settlement, said a former FTC official who requested anonymity in order to speak more freely.

Persons: “, ”, David Vladeck, Vladeck, Democratic Sen, Elizabeth Warren, Meta, Warren, ‘, Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Sheldon Whitehouse, Sen, Bernie Sanders, Katie Porter, TIGTA didn’t, Block, TaxSlayer didn’t, TaxAct, TaxSlayer, TurboTax, Steven Rosenthal, ” Rosenthal Organizations: CNN, Meta, Google, Georgetown University, Federal Trade Commission, Democratic, FTC, Internal Revenue Service, Justice Department, Tax Administration, Intuit, IRS, Urban, Brookings Tax Locations: United States, Google’s

☆ How the generative A.I. boom could forever change online advertising
▼ + stars: | 2023-07-08 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +10 min

Meta, Alphabet and Amazon , the leaders in online advertising, are all betting generative AI will eventually be core to their businesses. In May, Meta announced its AI Sandbox testing suite for companies to more easily use generative AI software to create background images and experiment with different advertising copy. However, Shaked said he's "not sold on the creative piece yet," regarding Meta's nascent foray into providing generative AI tools for advertisers. Jay Pattisall, an analyst at Forrester, said several major hurdles prevent generative AI from having a major immediate impact on the online ad industry. Stacy Reed, an online advertising and Facebook ads consultant, is currently incorporating generative AI into her daily work.

Persons: Sebastien Bozon, ChatGPT, Shane Rasnak, Rasnak, Cristina Lawrence, Lawrence, Mark Zuckerberg, Andrew Caballero, Reynolds, Yarden Shaked, Shaked, Jay Pattisall, Forrester, Pattisall, Reddit, Scott McKelvey, OpenAI, McKelvey, that's, Meta, Stacy Reed, it's, Reed, they've, Ryan Reynolds Organizations: AFP, Getty, Facebook, Twitter, CNBC, Meta, Meta's, Georgetown University, Bloomberg News, Mint Mobile, Social Locations: Utah, San Francisco, Washington

Wagner leader Yevgeny Prigozhin is not even in Belarus, Lukashenko told CNN – he is in Russia, Lukashenko claimed. Available satellite imagery has also not shown any signs of the kind of preparations and security that would be standard at a Russian nuclear facility. Russia has the world’s largest arsenal of nuclear weapons, with 4,477 deployed and reserve nuclear warheads, including around 1,900 tactical nuclear weapons, according to the Federation of American Scientists. “Putin does not need tactical nuclear weapons in Belarus to use those weapons,” Bergmann added. “But it is concerning to the US that tactical nuclear weapons could potentially be co-located in Belarus with Wagner fighters.

Persons: Wagner, Alexander Lukashenko, Yevgeny Prigozhin, Lukashenko, CNN –, Alexander Zemlianichenko, Vladimir Putin, Putin, ”, Max Bergmann, “ Putin, ” Bergmann, Lukashenko’s, Alexander Nemenov, Angela, Prigozhin, Leonid Kasinsky, ” Lukashenko Organizations: CNN, Wagner Group, Wagner PMC, Federation of American Scientists, Center for Strategic, International Studies, Directorate of, Ministry of Defense, Soviet Union, Experts, NATO, European Union, Lithuanian President’s Communication, Georgetown University, Kremlin, Wagner, Russian Ministry of Defense Locations: Russia, Europe, Belarus, Russian, Minsk, Belarusian, Tsel, Soviet, Vilnius, Lithuania, AFP, Poland, Belarus US, St . Petersburg

☆ Sales of Alzheimer’s drug Leqembi may be slow initially but could pick up in 2024
▼ + stars: | 2023-07-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Sales of the Alzheimer's drug Leqembi may be slow initially due to logistical requirements but could pick up in 2024, analysts said after the groundbreaking treatment won approval in the U.S.Wall Street is chewing over the Food and Drug Administration's Thursday approval of Leqembi – a milestone in the treatment of the disease, even though the drug isn't a cure. Leqembi, from drugmakers Eisai and Biogen , is the first medicine proven to slow the progression of Alzheimer's in people at the early stages of the memory-robbing disease. Yee added that the firm's channel checks suggest doctors see the registry requirement "as a potential real-world challenge – at least in the initial phase." That includes navigating Medicare's registry requirement and coordinating PET scans and MRIs to screen for dangerous side effects of the drug. But Goodman, like other analysts, also noted that "we continue to expect a slow ramp in 2023 and acceleration moving into 2024."

Persons: Jay Reinstein, drugmakers, Yatin Suneja, Jefferies, Michael Yee, Yee, Paul Matteis, Marc Goodman, Goodman Organizations: Georgetown University Hospital, Wall, Food, Leqembi, FDA, National Institute, Aging, ARIA, SVB Securities Locations: Washington , DC, U.S

☆ Scapegoating the Supreme Court
▼ + stars: | 2023-07-06 | by ( Daniel Henninger | ) www.wsj.com time to read: 1 min

REUTERS/Bobby Yip/File PhotoHONG KONG, July 3 (Reuters) - Hong Kong police on Monday accused eight overseas-based activists of serious national security offences including foreign collusion and incitement to secession and offered rewards for information leading to any arrest. "They have encouraged sanctions ... to destroy Hong Kong and to intimidate officials," Steve Li, an officer with the police's national security department, told reporters. Chinese and Hong Kong authorities say the law has restored the stability necessary for preserving Hong Kong's economic success. "I miss Hong Kong but as things stand, no rational person would be going back." British-based rights group Hong Kong Watch said in a statement Britain, the U.S. and Australia should issue statements "guaranteeing the safety of those activists named and the wider Hong Kong community living overseas".

Persons: Nathan Law, Bobby Yip, Anna Kwok, Finn Lau, Dennis Kwok, Ted Hui, Kevin Yam, Mung Siu, Yuan Gong, Steve Li, Hong Kong, Yam, Li, James Pomfret, Jessie Pang, Robert Birsel Organizations: REUTERS, HK, Hong, Reuters, Georgetown University's Center, Asian Law, Police, Kong's Security, Hong Kong Watch, Thomson Locations: Hong Kong, China, HONG KONG, United States, Britain, Australia, Beijing, British, Hong, Asia, U.S

☆ Mark Zuckerberg reportedly wants to follow in Elon Musk and Tim Cook's footsteps, and sell products in China — but his past criticisms of China could haunt him
▼ + stars: | 2023-07-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Meta is in talks with Chinese tech company Tencent to bring its VR headsets to the country, WSJ reported. But CEO Mark Zuckerberg's past criticisms of China's policies may pose a challenge to his plans. Mark Zuckerberg will likely not be getting a royal welcome in China — like the one Elon Musk got in May — anytime soon. Meta is reportedly in talks with Chinese tech giant Tencent Holdings to bring its Quest virtual-reality headsets to the country, The Wall Street Journal first reported. In that same speech, Zuckerberg said he was worried that China's values could spread to other parts of the world.

Persons: Mark Zuckerberg's, Zuckerberg, Mark Zuckerberg, Elon Musk, Meta, Tencent didn't Organizations: Morning, Elon, Holdings, Street Journal, Apple, Georgetown University, Facebook, Quest Locations: China, —, Hong Kong, TikTok

☆ Supreme Court's affirmative action decision sets 'race-neutral' standard in college admission decisions
▼ + stars: | 2023-07-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +8 min

CNN —When the Supreme Court cut affirmative action out of college admissions programs Thursday, it did not outlaw the goal of achieving diversity, but it set a new “race-neutral” standard for considering applicants. Justice Clarence Thomas, who wrote his own concurring opinion, uses the term “race neutral” repeatedly, offering it as an antidote to affirmative action. For more on this view, read this piece in The Atlantic by scholars Uma Jayakumar and Ibram Kendi: “‘Race Neutral’ Is the New ‘Separate but Equal.’”What have race-neutral admissions policies accomplished? They can, presumably, still utilize affirmative action even though they are the higher learning institutions over which the federal government has the most control. Multiple corporations – from Apple to IKEA – asked the Supreme Court to allow affirmative action to continue so that their potential workforce is more diverse.

Persons: John Roberts, Roberts, they’ve, Clarence Thomas, Thomas, Sonia Sotomayor, ”, Uma Jayakumar, Laura Coates, CNN’s Nicquel Terry Ellis, Zack Mabel, Terry Ellis, CNN’s Leah Asmelash, Ronald Brownstein Organizations: CNN, Public, Institute of California, University of California’s, UC, UC enrollees, UC Berkeley, Harvard University, Georgetown University Center, Education, Workforce, Georgetown’s Center for Education, IKEA –, Republican Locations: California, Michigan, Thomas, California In California, enrollees, UC enrollees, American, America, Apple

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