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Ackman's SPARC is seeking new deals with private companies
  + stars: | 2023-10-01 | by ( ) www.reuters.com   time to read: +1 min
Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo Acquire Licensing RightsOct 1 (Reuters) - Pershing Square SPARC Holdings Ltd, said that it will pursue business combinations with privately-held companies after receiving regulatory approval from U.S regulators for distributing special purpose acquisition rights. The SPARC, an affiliate of billionaire investor Bill Ackman's Pershing Square Tontine Holdings Ltd, is targeting companies that seek to raise a minimum of $1.5 billion of capital, it said in a regulatory filing on Friday. Ackman's SPARC is a variation of a special purpose acquisition company (SPAC), the market for which has cooled since its peak in 2021 as investors nursed losses on many deals. Ackman added that he has no idea if X is interested and would still need to determine whether or not a deal is doable.
Persons: Bill Ackman, Richard Brian, Bill Ackman's, Elon Musk's, Ackman, Elon Musk, Jose Joseph Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings Ltd, SPARC, Tontine Holdings, Wall, Elon, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru
In the years after Buffett sold IBM, he dramatically raised Berkshire's stake in Apple, becoming the largest shareholder outside of index and exchange-traded fund providers. As of the end of June, Berkshire's Apple stake was worth more than $177 billion, accounting for nearly half of Berkshire's entire equity portfolio. Buffett also admitted it was a mistake not being an early investor in Amazon , saying he underestimated the brilliance of founder Jeff Bezos. Some said that Buffett sold them too early and missed the subsequent rebound when the economy reopened. "It could've been worse, but it was a mistake," Buffett said during 1995 annual meeting .
Persons: Warren Buffett, he's, Buffett, Berkshire's, That's, Ben Graham, Jeff Bezos, Charlie Munger, we'll, I'd, Long, we'd, Richard Branson Organizations: Oracle, HP, Apple, Business Machines, IBM, Berkshire's Apple, Taiwan Semiconductor, Big Tech, Google, — United, Delta Air Lines, US Air, Virgin Atlantic Airways Locations: Omaha, Berkshire, Taiwan, U.S, American, Southwest
Feinstein was a Washington trailblazer who, among other accomplishments, became the first woman to head the influential Senate Intelligence Committee. Feinstein joined the Senate in 1992 after winning a special election and was reelected five times, including in 2018, along the way becoming the longest-serving woman senator ever. Health issues slowed Feinstein late in her career, when she was the oldest senator at the time. She ran for governor in 1990, winning the Democratic primary but losing to Republican Pete Wilson in the general election. Feinstein then ran in 1992 for the Senate seat that Wilson had previously held, easily defeating the Republican appointed to the seat.
Persons: Sen, Dianne Feinstein, William Barr, Department's, Feinstein, Dianne, Francisco’s, Nancy Pelosi, Pelosi, George Moscone, Harvey Milk, Milk, Dan White, Ramsay Hunt, al, Osama Bin Laden, John McCain of, Edward Snowden, Republican George W, Bush's, Lindsey Graham, Donald Trump's, Amy Coney Barrett, Trump, Joe Biden's, She, Francisco's, Republican Pete Wilson, Wilson, Feinstein's, Bertram Feinstein, Richard Blum, Will Dunham, Susan Heavey, Scott Malone, Diane Craft, Jonathan Oatis Organizations: Committee, Democratic U.S, Washington trailblazer, Intelligence, Senate, U.S, Francisco's, of Supervisors, Moscone, Republicans, Health, Republican, CIA, AMERICA, National Security Agency, NSA, Capitol, Stanford University, San, Supervisors, Democratic, Thomson Locations: Washington , U.S, WASHINGTON, California, Washington, San Francisco County, Connecticut, United States, al Qaeda, Pakistan, John McCain of Arizona, Vietnam, America, Iraq, San Francisco
Underwood Archives/Getty Images Feinstein gets her makeup touched up for a photo shoot in San Francisco in 1955. Bettmann Archive/Getty Images Feinstein attends a campaign event for her mayoral run in San Francisco in 1971. Clem Albers/San Francisco Chronicle/Getty Images Feinstein attends a memorial service for assassinated Supervisor Harvey Milk in San Francisco in 1978. Roger Ressmeyer/CORBIS/VCG/Getty Images Feinstein speaks at the signing of an anti-gun bill at San Francisco City Hall in 1982. Douglas Graham/CQ Roll Call/Getty Images Feinstein greets first lady Hillary Clinton at the 2000 Democratic National Convention in Los Angeles.
Persons: Washington CNN — Dianne Feinstein, Feinstein, Gavin Newsom, Newsom, NBC’s “, , Feinstein’s, Ramsay Hunt, I’m, , ” Feinstein, Lindsey Graham, Amy Coney Barrett, Leah Millis, Nancy Pelosi, Democratic Sen, Dick Durbin, Kevin McCarthy, Chuck Schumer, “ Dianne Feinstein, ” Schumer, Sen, Dianne Feinstein, Joe Biden, Celeste Sloman, Dianne Emiel Goldman, George Moscone, Harvey Milk, Duke Downey, Clem Albers, Janet Fries, Quentin Kopp, Sal Veder, Richard Blum, Walter Mondale, Georges, Roger Ressmeyer, Steve Ringman, Tony Bennett, Jeff Reinking, Neal Ulevich, Bishop Desmond Tutu, Eric Risberg, Willie Brown, Cecil Williams, Dr, Martin Luther King Jr, Paul Sakuma, Kim Komenich, Mark Reinstein, Barbara Boxer, Alan Greth, Ruth Bader Ginsburg, Carol Moseley, Braun, Doug Mills, Charles Tasnadi, Kathleen Brown, Bill Clinton, Dirck Halstead, Lisa Leslie, Gigi Goshko, Douglas Graham, Hillary Clinton, Clinton, Paul J, Richards, Orrin Hatch, Patrick J, Leahy, William H, Pryor Jr, Scott J, Ferrell, Arnold Schwarzenegger, Schwarzenegger, Tim Sloan, Rick Friedman, Condoleezza Rice, George W, Bush, Colin Powell, Chuck Kennedy, John Roberts, Mark Wilson, Eileen Mariano, Mariano, interning, Tom Williams, Carson, Jay L, Barack Obama, Ralf, Finn Hestoft, Hina Rabbani Khar, Brendan Smialowski, Jacquelyn Martin, AP Sen, Chuck Grassley, Christine Blasey Ford, Brett M, Kavanaugh, Ford, Donald Trump, Chip Somodevilla, Barrett, Bonnie Cash, Graham, Samuel Corum, Jonathan Ernst, Simone Biles, Larry Nassar, Aly Raisman, Maggie Nichols, McKayla Maroney, Bob Dole, Oliver Contreras, Kent Nishimura, Kevin Dietsch, Dianne Feinstein's, Moscone, Milk, CNN’s Dana Bash, Dan White, ‘ Dan, , Harvey, California’s, Bash, Richard Blumenthal, Bill Clark, Annette Bening, Donald Trump’s, South Carolina Republican Lindsey Graham’s Organizations: Washington CNN, Senate, California Democratic, Democratic, Press, Democrats, Democratic Party, Capitol, Senate Intelligence, California Democrat, Capitol Hill, CNN, Golden State ”, Illinois, Republican, New York Times, Underwood Archives, Getty, San Francisco City Hall, San Francisco, of Supervisors, Bettmann, San Francisco Chronicle, San Francisco Ice Company, White, Steiner, Forbidden, Democratic National Convention, United States Senate, United, United States women's, team, Convention, Washington Post, Circuit, Images California, McClatchy, Tribune, Service, Supreme, California, Rancho, Pakistan's, AP, Committee, White House, Los Angeles Times, Stanford University, San, Supervisors, Administration Committee, federal, Inc, South Carolina Republican, Judiciary, Intelligence, Appropriations Locations: Washington, California, San Francisco, America, ” San Francisco, Washington , DC, DC, Forbidden City, Beijing, China, Feinstein , California, Los Angeles, United States, New York, AFP, Boston, Rancho Bernardo, San Diego, San Francisco , California, Maryland, San Francisco County, Richard Blumenthal of Connecticut
Swift's blockbuster Eras Tour injected billions into the US economy, and so will her movie. A quick recap: The demand for Swift's Eras Tour was so momentous that it literally broke Ticketmaster's website, prompting a Congressional hearing into its dominance of the ticketing industry. Swifties previously told Insider that they were spending upwards of $20,000 to attend the Eras Tour this past summer. Glendale, Arizona — the first stop on the Eras Tour — went as far as renaming itself " Swift City " when the artist came to town. Swift's impact on local economies even led to a shoutout from the Federal Reserve, who said the Eras Tour helped boost hotel revenue in Philadelphia when she came through town.
Persons: Taylor Swift, Swift, , haven't, Richard Blumenthal, Joe Berchtold, QuestionPro, Swifties, Travis Kelce, Chiefs windbreaker Swift, Kelce, doesn't, Aaron Rodgers Organizations: Federal Reserve, Service, NFL, Democrats, Live, CNN, Philadelphia Federal Reserve, Hollywood, Football, Kansas City Chiefs, Chicago Bears, Chiefs, Kansas City, Front Office, Fox, Kansas City Chiefs Pro Shop, The New York Post, New York Jets, MetLife, NBC Locations: Connecticut, Glendale , Arizona, Philadelphia, American, New Jersey, New York
Sen. Elizabeth Warren led some Democratic colleagues in sending letters to four student-loan companies requesting information on the repayment restart. They also said a lack of funding is not a valid excuse for borrowers to be facing bad customer service. AdvertisementAdvertisementSenator Elizabeth Warren is worried that four federal student-loan companies aren't up to the task of transitioning millions of borrowers back into repayment in a few days. These letters come just days before pandemic relief for federal borrowers comes to an end. White House Press Secretary Karine Jean-Pierre said during a Monday press briefing that it would further strain Federal Student Aid's ability to assist borrowers over the next month.
Persons: Sen, Elizabeth Warren, , Warren, — Sens, Chris Van Hollen, Ed Markey, Richard Blumenthal —, servicers, Joe Biden's, Virginia Foxx, Bill Cassidy, Karine Jean, Pierre, Jean, Pierre said Organizations: Democratic, Service, Federal Services, servicer, Central Research Inc, Education Department, — House Republicans, Federal Student Aid, Consumer Financial, Republican, Office, Department, House Press, Education
CNN —Actor Michael Gambon, best known for playing Albus Dumbledore in most of the “Harry Potter” movies, has died at 82 following a “bout of pneumonia,” a statement issued on behalf of his family said on Thursday, PA Media news agency reported. I collect cars and guns, which are much more expensive, and much more difficult to store.”Michael Gambon in "Harry Potter and the Order of the Phoenix." Four years later, Gambon joined the Birmingham Repertory Company, finally playing title roles in his favorite Shakespearean plays. But it was as Hogwarts’ headmaster Dumbledore in the “Harry Potter” film series that Gambon will perhaps be best remembered, a role he took up following the death of Richard Harris in 2002. In all, Gambon was cast as Dumbledore for six of the eight “Harry Potter” films.
Persons: Michael Gambon, Albus Dumbledore, Harry Potter ”, , Sir Michael Gambon, Clair Dobbs, Michael, Anne, Fergus, ” Gambon, Gambon, toolmaker, “ I’ve, “ Richard Briers, Harry Potter, Murray, Laurence Olivier, Philip Marlow, , Dumbledore, Richard Harris Organizations: CNN, Media, Guardian, Warner Bros, Royal Academy of Dramatic, National Theatre Company, Birmingham Repertory Company, British Empire Locations: Cabra, Dublin, London, Irish, Camden, British
Cassidy Hutchinson said she was asked to make a "hit list" of the Republicans who voted to impeach Trump. Hutchinson said White House chief of staff Mark Meadows asked her to make a chart with their photos. Trump then kept the chart of the 10 House Republicans on the Resolute Desk. Hutchinson wrote that Trump then kept the list of the disloyal Republicans close by. In particular, he made it his mission to drive out the 10 House Republican lawmakers who voted to impeach him and the 7 Republican senators who later supported his conviction.
Persons: Cassidy Hutchinson, Trump, Hutchinson, Mark Meadows, , Donald Trump, Meadows, Mark, Joe Biden, David Valadao, Dan Newhouse, Mitch McConnell, Richard Burr of, Pat Toomey, Sen, Ben Sasse, Mitt Romney, Romney, Rather Organizations: Republicans, White, Service, Capitol, Republican, White House, GOP, Trump, Senate, Pennsylvania, University of Florida Locations: Sens, Richard Burr of North Carolina, Nebraska, Utah
An asteroid sample collected by NASA's OSIRIS-REx spacecraft landed in the Utah desert Sunday. The landing marked the end of NASA's first ever mission to collect an asteroid sample. The rocks and dust from asteroid Bennu will prove useful to scientists for centuries to come. It was carrying rock and dust samples collected by the spacecraft from the asteroid Bennu in 2020. The team had to pivot, storing the sample inside its return capsule straight away instead of weighing it first as planned.
Persons: NASA's OSIRIS, REx, NASA's, REx —, Noah Petro, Petro, Richard Burns, OSIRIS, " Burns, Dante Lauretta, hasn't, Lauretta Organizations: Service, NASA Locations: Utah, Wall, Silicon
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed's higher for longer surprised the market, but it shouldn't have: RBA's Michael ContopoulosMichael Contopoulos, Richard Bernstein Advisors director of fixed income, joins the 'Fast Money' traders at the desk talking rising rates, the Fed's next move, the state of the economy and more.
Persons: Michael Contopoulos Michael Contopoulos, Richard Bernstein Organizations: Richard Bernstein Advisors
Call it whatever you want, we're going to get that one and a half percent," the crown prince said. The Saudi Public Investment Fund (PIF), an entity controlled by Crown Prince Mohammed, has backed Saudi soccer clubs and LIV Golf. The LIV Golf merger with the PGA Tour has faced widespread scrutiny. Key U.S. lawmakers have criticized the pending golf merger as an attempt by the kingdom to distract from its human rights record. Prior to the deal, LIV Golf sued the PGA Tour for alleged anticompetitive practices, which prompted the PGA Tour to countersue, saying LIV Golf was stifling competition.
Persons: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud, Prince Mohammed bin Salman, sportswashing, I'm, Critics, Jamal Khashoggi, Cristiano Ronaldo, Dustin Johnson, Bryson DeChambeau, LIV Golf, Crown Prince Mohammed, LIV, Osama bin Laden, It's, Sen, Richard Blumenthal, Conn, Jimmy Dunne, Ron Price, Price, Benjamin Freeman, — CNBC's Lillian Rizzo, Chelsey Cox Organizations: Saudi, Saudi Arabian Crown, Partnership, Global Infrastructure, Fox News, Washington Post, Neymar, PGA Tour, Saudi Public Investment Fund, Crown, Reuters, PGA, Key U.S, Homeland Security, Governmental Affairs, Tour, Quincy Institute, Responsible Locations: Saudi Arabian, New Delhi, India, Saudi, Europe, Saudi Arabia, Key, Yemen
[1/2] A model of a new fighter jet of the Global Combat Air Programme (GCAP) led by Britain, Japan, and Italy, is seen at the DSEI defence event in London, Britain, September 12, 2023. Reuters/Sarah Young/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - Japan, Britain and Italy plan to choose Britain as the headquarters for their next-generation fighter program, four sources in Japan said, putting London at the forefront of a partnership that could expand to include other nations. "Discussion about the headquarters is ongoing and we are unable to comment on the location," Japan's defence procurement agency said in an email. "No final decisions have been made on the locations and we will not comment on speculation," a spokesperson at Britain's defence ministry said. Officials at the Italian defence ministry were unavailable for comment.
Persons: Sarah Young, Leonardo, LDOF.MI, Richard Berthon, Britain's, Tim Kelly, Nobuhiro Kubo, Paul Sandle, Angelo Amante, Gerry Doyle Organizations: Global Combat Air, Reuters, Rights, London, United, United Arab Emirates, Combat, Britain's Ministry of Defence, BAE Systems PLC, Mitsubishi Heavy Industries, Mitsubishi Electric Corp, Royce PLC, Japan's IHI Corp, Thomson Locations: Britain, Japan, Italy, London, Saudi Arabia, United Arab, GCAP, European
The only other U.S. high-speed line is Amtrak's Acela service between Boston and Washington, D.C., which began in 2000. Brightline began planning in 2012. A 2018 partnership with Richard Branson's Virgin Group to rebrand Brightline as Virgin Trains USA quickly soured. According to the lawsuit, Brightline says Virgin “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic." He said Brightline’s accommodations “compare really well to some of the best trains” he’s taken in Europe, where high-speed rail between cities is common.
Persons: Florida's Brightline, It's, Mike Reininger, John Renne, Brightline, ” Renne, Richard Branson's, Virgin “, hasn’t, Eric Flowers, , ” Brightline, Reininger, ” Reininger, Robert Barr, You’ve, Barr Organizations: MIAMI, Fortress Investment, West Palm Beach, D.C, Amtrak, Florida Atlantic University's Center for Urban, Environmental Solutions, Miami -, Richard Branson's Virgin Group, Virgin Trains USA, Virgin, Orlando Locations: United States, Miami, Orlando, West Palm, Southern California, Las Vegas, Boston, Washington, Florida, Tampa, Jacksonville, Miami - Orlando, London, U.S, West, County, We’re, Vero, Brightline’s Miami, South, Florida’s, Europe
LONDON (AP) — Prime Minister Rishi Sunak announced Wednesday that he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030, watering down climate goals that he said imposed “unacceptable costs” on ordinary people. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government’s change of plan. Ford U.K. head Lisa Brankin said the company had invested 430 million pounds ($530 million) to build electric cars in Britain.
Persons: Rishi Sunak, Sunak, , Boris Johnson, backtrack, Prince William —, Will McCallum, Lisa Brankin, Richard Burge, Tara, Hargreaves Lansdown, Clee, Sadiq Khan, Alok Sharma, Peter Cox Organizations: , Conservative Party, Former, United Nations General Assembly, Greenpeace, Ford, London Chamber of Commerce and Industry, Britain’s Conservatives, Labour, London’s Labour, BBC, Global Systems Institute, University of Exeter Locations: New York, Britain, London Uxbridge, Glasgow
Sept 19 (Reuters) - Shares of Rocket Lab USA (RKLB.O) slumped around 26% in premarket trading on Tuesday after the space company's latest mission ended about 2-1/2 minutes following launch due to an undisclosed issue. Mission failures weigh heavily on smaller rocket companies that carry payloads for space exploration startups. Virgin Orbit, founded by billionaire Richard Branson, filed for bankruptcy in April after its rocket failed to reach orbit in January. Its Electron rocket was carrying satellites for American space tech company Capella Space, which provides radar and Earth observation technology. Rocket Lab said last week it signed a deal for four launches with defense contractor Leidos (LDOS.N), scheduled across 2024 and 2025.
Persons: Richard Branson, Leidos, Zaheer Kachwala, Devika Organizations: Lab, FAA, Federal Aviation Administration, Orbit, Capella Space, Thomson Locations: Bengaluru
Congressman Stephen Buyer arrives for his insider trading trial at the United States Courthouse in the Manhattan borough of New York City, U.S., March 8, 2023. Congressman Stephen Buyer was sentenced to 22 months in prison on Tuesday for trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc (TMUS.O) ahead of its $23 billion merger with Sprint. U.S. District Judge Richard Berman in New York sentenced Buyer, who was found guilty on four counts of securities fraud at a trial in March. Buyer took the stand at trial and denied trading on inside information. Buyer asked to be sentenced to home confinement, citing his service in Congress and the U.S. military.
Persons: Stephen Buyer, Brendan McDermid, Richard Berman, Buyer, Prosecutors, Jody Godoy, Deepa Babington Organizations: U.S, United, Courthouse, REUTERS, Mobile, Former U.S, Mobile US Inc, Sprint, District, New York, Republican, U.S . House, Navigant Consulting, Guidehouse, U.S ., Court, Southern District of, Thomson Locations: Manhattan, New York City, U.S, Former, New, Indiana, Congress, Southern District, Southern District of New York, New York
Legendary golfer Gary Player thinks government and sports shouldn't mix, as the golf world goes through a major merger that has triggered antitrust concerns. He was an ambassador for Golf Saudi, an organization pushing to make the Kingdom of Saudi Arabia a more prominent force in the sport. Player also said he supports the proposed merger between Saudi-backed LIV Golf and the PGA Tour, which has drawn criticism and scrutiny from regulators and lawmakers, not to mention golfers. (Previously, Player has spoken out against players leaving the PGA Tour to join LIV Golf, saying it's for "guys that can't win one the regular tour any more.") Last week, a U.S. Senate subcommittee held its second hearing on the proposed merger.
Persons: Gary Player, We've, LIV Golf, Connecticut Sen, Richard Blumenthal Organizations: CNBC, Golf Saudi, Aramco, PGA Tour, U.S, Connecticut, Democratic, Saudi Public Investment Fund, soccer team Locations: Kingdom of Saudi Arabia, Saudi
The Maui Invitational will be held in Honolulu this year because of the wildfires that devastated Lahaina, where the tournament usually is played. “We appreciate everything the Maui Invitational is doing to help Maui and its residents.”Political Cartoons View All 1163 ImagesTickets purchased for the tournament in Maui will be honored. Also, the Maui Invitational has launched an online auction with all proceeds going directly to relief and recovery efforts. The Maui Invitational, one of college basketball's premier events, has long been a source of pride in Lahaina, also a major tourist destination. “The Maui Invitational is a great event that celebrates all of Hawaii,” Hawaii Governor Josh Green said in a statement.
Persons: Chaminade, Richard Bissen, Mike Krzyzewski, Bill Self, Tom Izzo, Josh Green, Organizations: Maui, Stan Sheriff Center, Kansas, Purdue, Gonzaga, Marquette . Syracuse, Chaminade, UCLA, NAIA, Virginia, Lahaina Civic Center, Maui Invitational, mauiinvitational.com, , Hawaii, Strong, surfboards Locations: Honolulu, Lahaina, Gonzaga , Tennessee, Marquette, Maui, Asheville , North Carolina, Las Vegas, Hawaii, Mike Krzyzewski , Kansas, Michigan, Oahu
With Arm IPO, Nasdaq Notches Win in NYSE Rivalry
  + stars: | 2023-09-14 | by ( ) www.wsj.com   time to read: 1 min
Nasdaq and the New York Stock Exchange compete fiercely for listings. (Richard B. Levine/Zuma Press)When British chip designer Arm starts trading on Nasdaq today, its initial public offering will mark a big win for the exchange in its decades-long rivalry with the New York Stock Exchange. Nasdaq and the NYSE compete fiercely for major listings, dangling incentives such as advertising time and lavish IPO parties at their headquarters to entice companies.
Persons: Richard B, Levine Organizations: Nasdaq, New York Stock Exchange, Zuma Press, NYSE Locations: British
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRichard Bernstein says there are other growth stories outside of the 'Magnificent 7'Richard Bernstein, Richard Bernstein Advisors CEO, joins 'Power Lunch' to discuss where to find opportunities in the non-Magnificent 7 stocks.
Persons: Richard Bernstein
Before the tourists came to marvel at the valley cradled in Morocco’s Atlas Mountains, with its arid red slopes splashed with lush green and its deep-blue lake, the only living to be made was in olive farming, and not much of a living at that. Then came the modest little hiking lodge and the luxury resort, and the quasi-palace owned by Richard Branson and the inns set up by the people of the Ouirgane Valley, many of whom are members of the Amazigh ethnic group, more commonly known as Berbers. As more and more tourists discovered over the last few decades that the area was only an hour’s drive from the city of Marrakesh, the residents of villages like Ouirgane got jobs as guides for mule riding and hiking, drivers, waiters, hoteliers, restaurateurs and more. Many were able to move back home from Moroccan cities like Marrakesh and Essaouira, where they had taken jobs to support families in their villages.
Persons: Richard Branson, Ouirgane Locations: Atlas, Marrakesh, Moroccan, Essaouira
Some of the world's biggest tech leaders gathered in Washington, DC for a closed-door forum on AI. Elon Musk, Mark Zuckerberg, Bill Gates, and other tech leaders all were scheduled to attend. The closed-door forum on Capitol Hill included almost two dozen tech executives, tech advocates, civil rights groups and labor leaders. Tech leaders outlined their views, with each participant getting three minutes to speak on a topic of their choosing. AdvertisementAdvertisementStill, some senators were critical of the private meeting, arguing that tech executives should testify in public.
Persons: Elon Musk, Mark Zuckerberg, Bill Gates, Musk, Chuck Schumer, Meta's Mark Zuckerberg, Tesla, OpenAI's Sam Altman, Schumer, Sen, Mike Rounds, Eric Schmidt, Zuckerberg, Arvind Krishna, Josh Hawley, Hawley, Richard Blumenthal, Conn Organizations: Service, Capitol, Microsoft, Tech, IBM Locations: Washington ,, Wall, Silicon
Artificial intelligence is again in focus this week in Washington, as leading tech executives — including Elon Musk, Mark Zuckerberg, Sundar Pichai, Satya Nadella and Sam Altman — as well as labor leaders and civil society groups meet on Wednesday with lawmakers behind closed doors. The gathering is the first of a series of Schumer’s listening sessions before lawmakers start writing rules. “This is an all-hands-on-deck moment for Congress—we need AI experts, ethicists, labor leaders, civil rights groups, the world of academia, defense and beyond helping us with the work ahead,” he wrote Tuesday on X, the social media platform formerly known as Twitter. Two separate Senate hearings devoted to A.I. It includes an independent office to oversee A.I., licensing and safety standards, and making executives liable for their tech.
Persons: Elon Musk, Mark Zuckerberg, Sundar Pichai, Satya Nadella, Sam Altman —, Chuck Schumer, , Richard Blumenthal, Josh Hawley Organizations: Elon, Democratic, Twitter Locations: Washington, New York, Connecticut, Republican, Missouri
The surprise deal, which would join the venerable PGA Tour and a rival Saudi-funded golf start-up, LIV, was announced in June. The Saudi sovereign wealth fund, called the Public Investment Fund, or PIF, is controlled by the Saudi government. The Saudi Embassy did not immediately respond to a request for comment on the subpoena, which names the Public Investment Fund's New York-based U.S. subsidiary, USSA International. This summer's announcement of the PGA-Saudi golf deal ended a legal battle between the two rivals. Blumenthal said available public records indicate the Saudi sovereign wealth fund has expanded its investments in the United States from $2 billion in 2018 to $35 billion now.
Persons: Sen, Richard Blumenthal's, al, LIV, ” Blumenthal, Blumenthal, , , Crown Prince Mohammed bin Salman Organizations: WASHINGTON, Saudi, PGA, Connecticut, Senate, PGA Tour, Public Investment Fund, Public Investment, United, Saudi Embassy, USSA, Crown Locations: United States, Saudi, York, San Francisco, Saudi Arabia
But he’s hoping that they will give senators some realistic direction as he tries to do what Congress hasn't done for many years — pass meaningful regulation of the tech industry. “It’s going to be a fascinating group because they have different points of view,” Schumer said in an interview with The Associated Press ahead of the forum. Many members of Congress agree that legislation will probably be needed in response to the quick escalation of artificial intelligence tools in government, business and daily life. In the United States, most major tech companies have expressed support for AI regulations, though they don’t necessarily agree on what that means. Blumenthal’s framework calls for a new “licensing regime” that would require tech companies to seek licenses for high-risk AI systems.
Persons: Chuck Schumer, Meta’s Mark Zuckerberg, Elon Musk, Bill Gates, Schumer, Republican Sen, Mike Rounds, “ It’s, ” Schumer, ” Rounds, , , Mark Warner, Democratic Sen, Martin Heinrich of, Todd Young, Indiana —, Sam Altman, Forrester, Sen, Young, ” Young, “ We’ve, Dana Rao, We’ve, Richard Blumenthal, Conn, Josh Hawley, ” Blumenthal, ___ O'Brien, Ali Swenson, Kelvin Chan Organizations: WASHINGTON, Capitol, Microsoft, Republican, Associated Press, AP, Democratic, European Union, Adobe Locations: South Dakota, Martin Heinrich of New Mexico, Indiana, U.S, United States, Europe, Josh Hawley of Missouri, Providence , Rhode Island, New York, London
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