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☆ Music publishers ask court to halt AI company Anthropic's use of lyrics
▼ + stars: | 2023-11-17 | by ( Dawn Chmielewski | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Three music publishers are asking a federal court judge to issue a preliminary injunction that would prevent artificial intelligence company Anthropic from reproducing or distributing their copyrighted song lyrics. The three publishers filed a suit against Anthropic on Oct. 18, which accused the San Francisco company of "systematic and widespread" infringement of their copyrighted song lyrics. The publishers allege Anthropic "profits richly" from its infringement of their repertoires of copyrighted works, achieving a valuation of $5 billion while paying "nothing" to publishers or their songwriters. "Anthropic must not be allowed to flout copyright law," the publishers said in a court document supporting its request for a preliminary injunction. "If the court waits until this litigation ends to address what is already clear -- that Anthropic is improperly using publishers' copyrighted works -- then the damage will be done."

Persons: Dado Ruvic, ” Anthropic, Anthropic, Claude, Don McLean's, Buddy Holly, Dawn Chmielewski, Mary Milliken, Franklin Paul Organizations: REUTERS, Universal, Concord Music, ABKCO, Reuters, Anthropic, San, Franklin Paul Our, Thomson Locations: San Francisco, Los Angeles

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ China's not-so-special economic zone embodies a harsh new reality
▼ + stars: | 2023-11-16 | by ( David Kirton | ) www.reuters.com time to read: +9 min

REUTERS/David Kirton Acquire Licensing RightsSHENZHEN, China, Nov 16 (Reuters) - Tony Xiong is among the latest arrivals to the glitzy office towers in the newest part of Shenzhen, built to showcase China's economic miracle. Office workers are not the only ones grumbling about the unattractiveness of Qianhai, a special economic zone where Chinese dreams of global financial might and economic prosperity that once seemed inevitable are now darkened by half-empty skyscrapers and shopping malls as well as barely used motorways. And that's before China's tallest skyscraper of over 1,000 metres and a cluster of other towers are completed. With China entering a new era of sluggish growth, Qianhai may never reach the international status to which it aspires. The Qianhai Authority and China's State Council Information Office did not respond to Reuters requests for comment on the local and macro economic challenges.

Persons: David Kirton, Tony Xiong, Qianhai, Knight Frank, Antonio Fatas, Deng Xiaoping's, Xi Jinping, Xi, Zhiwu Chen, incentivised, Witman Hung, I've, Brian Miller, Klaus Zenkel, it's, Bill Deng, Zhang, James Pomfret, Marius Zaharia, David Crawshaw Organizations: REUTERS, Rights, Reuters, Authority, Communist Party, University of Hong, Qianhai Authority, HSBC, UBS, Standard Chartered, Chamber of Commerce, Greater, Thomson Locations: Shenzhen, Guangdong province, China, Rights SHENZHEN, Hong Kong, Beijing, Shanghai, China's, Qianhai, University of Hong Kong, Guangzhou, Hengqin, Macau, Nansha, South China, Greater Bay Area, . Hong Kong

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to industrials to drugs
▼ + stars: | 2023-11-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +12 min

(Anthony) Jim Cramer: There were some China statistics that showed that the consumer was doing slightly better. (David) Jim Cramer: The roadblock is that the money is at the state level. (Narayan) Jim Cramer: " Own, don't trade" is about trying to keep us in a stock that otherwise we would trade out of. (Jim) Jim Cramer: First, I think we have to remember Ford actually has a lot of money on its balance sheet — a lot of cash. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Estee Lauder, Anthony, Jim Cramer, Wynn, It's, David, I'm, Narayan, it's, Steve Jobs, John, Tom Jorden, That's, Capex, Paul, Procter, Jim Farley, Jim, Ford, Shawn Fain, Farley, Donald, Larry Culp, He's, GEHC, Eli Lily, Louis, Lilly, Zepbound, We've, Alzheimer's, tirzepatide, hasn't, Edmundo, we've, haven't, Linde, Theresa, Jim Cramer Rob Kim Organizations: Investing Club, Club, Caterpillar, Amazon, Nvidia, Apple, Web Services, Natural Resources, Exxon, Procter, Gamble, United Auto Workers, GE Healthcare, Electric, GE, General, Merck, Drug Administration, Novo Nordisk, Linde, LIN, Trust, Barrick, CNBC Locations: China, reaccelerate, GEHC

Nov 16 (Reuters) - Digital wealth management provider Wealthfront, a pioneer in automated investing, now oversees more than $50 billion in assets and is set to grow revenue by more than 140% this year, the company said on Thursday. Wealthfront was founded in 2008 by Andy Rachleff and Dan Carroll and launched automated investing services in 2011. It is a pioneer in using artificial intelligence to craft low-cost investment portfolios for Americans. The U.S. Securities and Exchange Commission (SEC) recently proposed a rule aimed at managing how AI is used to provide investment advice. "We're trying to take the best investment advice that we can through academic research and make that available at low cost to as many clients as we possibly can," he said.

Persons: Wealthfront, David Fortunato, Fortunato, Andy Rachleff, Dan Carroll, Hannah Lang, David Gregorio Our Organizations: Wealthfront, UBS, Reuters, U.S . Securities, Exchange Commission, SEC, Google, Thomson Locations: Washington

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - U.S. pharma company Eli Lilly (LLY.N) plans an investment in the single-digit billion dollar range in a new plant in western Germany, people familiar with the matter told Reuters after the company called a news conference for Friday. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates. The group's market value has ballooned to around $580 billion, up more than 65% so far this year.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Ludwig Burger, Thomas Escritt, Chizu Nomiyama, Jane Merriman Organizations: Company, REUTERS, Rights, . pharma, Reuters, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, Germany, Rhineland, Palatinate, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ Renault seeks to charge up investors for EV unit IPO
▼ + stars: | 2023-11-15 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

De Meo has targeted a valuation of 8-10 billion euros ($8.6-10.7 billion) for the initial public offering (IPO) of Ampere, which has already been delayed once and is now slated for spring 2024. Two of the sources said Renault was unlikely to go ahead with the IPO if the valuation falls below 7 billion euros, and one said the cut-off point could be closer to 6 billion euros. UBS analysts have valued Ampere at just 3-4 billion euros, and others have questioned the rationale of listing the EV business to raise funds. On Wednesday, De Meo will argue his case for what could be the first attempt by a traditional automaker to unlock value from an EV business via an IPO. Over the first nine months of 2023, Renault brand EV sales fell by around 5% in Europe, having been up 2.5% in the first half, weighed down by a limited line-up.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Renault, BEV, de Meo, Elon Musk's Tesla, Zoe, Silvia Aloisi, Mark Potter Organizations: Renault, Viva Technology, Porte de, REUTERS, Rights, Reuters, UBS, ICE, Jefferies, Nissan, Elon, EV, Thomson Locations: Porte, Paris, France, Europe

☆ AI's most doomsaying godfather sure would like you to believe his invention is godlike
▼ + stars: | 2023-11-14 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

However, overemphasizing the dangers of AI risks paralyzing debate at a pivotal moment. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"I'm not scared of A.I.," LeCun told the magazine. While Hinton and Meta's chief AI scientist LeCun have butted heads, fellow collaborator and third AI godfather Yoshua Bengio has stressed that this unknown is the real issue.

Persons: what's, Geoffrey Hinton, —, Hinton, Yan LeCun, Turing, LeCun, Yoshua Bengio, Yann, Joshua Rothman, it's Organizations: Service, Big Tech, Google, Yorker Locations: Hinton, Canadian

☆ Chevron takeover of Hess resurrects multi-billion dollar tax shield
▼ + stars: | 2023-11-14 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +5 min

“The tax benefits were definitely factored into how Chevron valued Hess,” said Donald Williamson, an accounting professor at American University’s Kogod School of Business. “When you combine the companies, we have the greater U.S. income, and we can use those net operating losses,” he said. The bottom line effect, when that loss limit is multiplied by the U.S. federal tax rate of 21%, is extra cash flow that could top $400 million a year. “There’s a strong and appropriate case to increase the corporate income tax rate.”Last year, corporate tax revenue totaled a record $425 billion, according to the Congressional Budget Office. Over the past decade, Chevron's current U.S. federal tax expense has averaged $40 million a year.

Persons: Dado Ruvic, Hess, ”, Donald Williamson, “, Pierre Breber, Williamson, Jim Seida, Jean Ross, Exxon, Darren Woods, ” Woods, Tim McLaughlin, Marguerita Choy Organizations: Chevron, Hess, REUTERS, Kogod School of Business, Internal Revenue Service, U.S, University of Notre Dame, Center for American Progress, Congressional, Graphics, Exxon Mobil, Pioneer Resources, Exxon, Reuters, Boston College, Thomson Locations: U.S, Chevron

☆ UniCredit CEO Orcel's 'bank of Europe' ambition tough to realise
▼ + stars: | 2023-11-14 | by ( Valentina Za | ) www.reuters.com time to read: +6 min

However, his aspirations to make UniCredit the "bank of Europe" are proving trickier to realise with the CEO setting a high bar for mergers and acquisitions in the euro zone's fractured capital markets, despite having what he describes as the biggest war chest among European lenders. UniCredit bought Greece's 9% stake in Alpha Bank (ACBr.AT) and struck a commercial partnership with the Athens-based lender, also acquiring most of its Romanian operations. The CEO works closely with a small M&A team he set up within UniCredit which constantly reviews potential deals in the markets and businesses where the bank operates, people with knowledge of the matter said. But uneven regulation across the euro zone, where progress towards a single banking market has stalled, complicates cross-border deals. Calling on Europe to follow his lead, Orcel says he has unlocked UniCredit's potential by giving it a unified strategy across its 13 markets.

Persons: Andrea Orcel, Merrill Lynch, Orcel, He's, Cole Smead, ALPHA Orcel, Siena, UniCredit, Smead, Jean, Pierre Mustier's, Mustier, it's, Carlo Franchini, Danilo Masoni, Kirsten Donovan Organizations: Discount, MILAN, UBS, Smead Capital Management, Fund, ALPHA, Banco, Alpha Bank, Alpha, Banca Ifigest, Thomson Locations: buybacks, Europe, Arizona, Ukraine, Athens, HVB, Berlin, Milan

The pay bumps could help win over some employees who balked at smaller bonuses last year that they blamed on losses from the retail operations. The firm's allocation for bonuses fell by as much as 40% in 2022, according to another source, after earnings slid 48%. Wall Street pay varies widely based on performance and market conditions, and bonuses account for a large share of compensation - in some cases more than double an employee’s annual salary. Goldman was involved in several major transactions in recent months that spurred optimism about a nascent market recovery. WALL STREET BONUS SLIDEThe potential compensation gains contrast with expectations for a broader industry slide.

Persons: Goldman Sachs, Stephen Biggar, Goldman, David Solomon, hasn't, we're, We're, Julian Salisbury, Dina Powell McCormick, They've, Christopher Connors, WALL, Thomas DiNapoli, Sheffield, Banks, Natalie Machicao, Lananh Nguyen, Saeed Azhar, Megan Davies, Matthew Lewis Organizations: Argus Research, Wall, Goldman, Sixth, MSD Partners, Bloomberg, Natural Resources, Exxon Mobil, Arm Holdings, Johnson Associates, York, Sheffield Haworth, Thomson Locations: Biggar, Sheffield Haworth, New York

☆ How to bet on a comeback in energy stocks, which look primed for a bounce
▼ + stars: | 2023-11-14 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

DMI (Directional Movement Index): DMI is composed of 3 lines, DI+ (green line), DI- (red line) and ADX (blue line). When the DI- (red line) is above the DI+ (green line), it indicates a downtrend which is what XLE is experiencing at the moment. Note that both DI- and DI+ are changing direction which provides further confirmation that XLE is turning around. THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: ”, XLE Organizations: SPDR Energy, Exxon Mobil, Natural Resources, Valero Locations: oversold, Chevron, XLE

☆ Exxon Mobil Plans to Produce Lithium in Arkansas
▼ + stars: | 2023-11-13 | by ( Clifford Krauss | More About Clifford Krauss | ) www.nytimes.com time to read: +1 min

Exxon Mobil said on Monday that it planned to set up a facility in Arkansas to produce lithium, a critical raw material for electric vehicles, which pose one of the biggest challenges to the company’s oil business. It could also open the door for southern Arkansas to emerge as a major source of lithium. Most of the metal today comes from Australia and South America and much of it is processed in China. “Electrification is going to be a major component of the energy transition and we bring highly relevant experience to the production of lithium,” Dan Ammann, president of Exxon Mobil Low Carbon Solutions and a former top executive at General Motors, said in an interview. “We see an opportunity to deploy that will be highly profitable.”

Persons: Dan Ammann, “ Organizations: Exxon Mobil, Exxon, Natural Resources, Carbon Solutions, General Motors Locations: Arkansas, Australia, South America, China, “

ATLANTIC CITY, N.J. (AP) — Steve Norton, who ran the first U.S. gambling facility outside Nevada — Resorts casino in Atlantic City — and gave advice around the world on how to set up and operate casinos, has died. His son, Rob, president of Cordish Gaming, said Norton died Sunday following an accident in his Oceanside, California, home. “Steve was an early and influential gaming executive in Atlantic City and at Resorts,” said the casino's current president, Mark Giannantonio. “He was an important leader in the Atlantic City market dating back to the 1970s. Norton used his experience as an Atlantic City casino pioneer to advise state governments — including in Louisiana, Illinois and Indiana — on how to adopt riverboat gambling, and in 1998 founded his own gambling consultancy company based in Indiana.

Persons: Steve Norton, Rob, Norton, Steve, ”, Mark Giannantonio, ” Norton, “, Sheldon Adelson’s, ___, Wayne Parry Organizations: CITY, Nevada — Resorts, Atlantic City —, Cordish, Resorts, Boardwalk, Associated Press, ” Resorts, Atlantic, Vegas Sands Corp, Gold River Gaming, Argosy Gaming, Indiana —, American Gaming Association Locations: N.J, Nevada, Atlantic City, Oceanside , California, Atlantic, New Jersey, Bahamas, Las Vegas, Louisiana , Illinois, Indiana, Singapore, South Korea, Kazakhstan, Andorra, Netherlands, www.twitter.com

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ Jo Ann Callis’ uncomfortable portrait of femininity has resonated for four decades
▼ + stars: | 2023-11-10 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +6 min

Though she made the image four and a half decades ago, “Woman with Blue Bow” seems strikingly contemporary — a timeless symbol on the strictures of femininity. Though Callis and her body of work fits neatly within this cohort, it’s not a label that Callis adopted, then or now. Callis' early color work explored restriction and desire at the height of the feminist art movement. Jo Ann Callis/Courtesy ROSEGALLERYThe red imprint on the model’s neck, alluding to discomfort, was not actually caused by the bow, Callis explained, but was rather an illusion thanks to makeup. It’s just one of the many nuances in her color work that she would not have been able to pull off in black and white.

Persons: Jo Ann Callis, Del Cielo, ” Callis, Callis, ”, “, Cindy Sherman, Hannah Wilke, Ana Mendieta, it’s, It’s, William Eggleston’s, Eggleston, David Lynch, Paul Outerbridge, That’s, Alfred Hitchcock, Sofia Coppola, ” Coppola, “ You’re Organizations: CNN, Museum of Modern Locations: Rosegallery, Santa Monica , California, China

☆ Nexi CEO: happy to help UniCredit on payments but contract is set
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

The logo of Italian payments group Nexi is pictured outside their headquarters in Milan, Italy, March 28, 2019. Italian payments infrastructure group SIA in 2016 signed a 10-year contract with UniCredit to manage cards and shop payments as well as cash withdrawal machines ahead of a being acquired by Nexi, which inherited the contract. Nexi finance chief Bernardo Mingrone told an analyst call on Thursday that the contract did not envisage the possibility of an early break-up. While the contract is "very solid" and runs over the long term, Nexi is "very keen to help UniCredit achieve their ambitions in payments, which are growing," Nexi CEO Paolo Bertoluzzo added. Asked whether UniCredit might dispose of its merchant acquiring business, Bertoluzzo said he would be "very surprised" if UniCredit did anything with it.

Persons: Alessandro Garofalo, Nexi, UniCredit, Andrea Orcel, Bernardo Mingrone, Mingrone, Paolo Bertoluzzo, Orcel, Jean Pierre Mustier, Bertoluzzo Organizations: REUTERS, SIA, Nexi, Thomson Locations: Milan, Italy

[1/5] Stephan Feldgoise, co-head of global M&A for of Goldman Sachs, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. This has fueled soul-searching among investment bankers about the prospects for their business. "I'm reasonably bullish that this will return, but obviously it will be in fits and starts." "Our (deal pipelines) are at one of the largest levels that you've seen in five-six years. Reporting by Anirban Sen in New York; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephan Feldgoise, Goldman Sachs, Brendan McDermid, Goldman, Steven Baronoff, Anu Aiyengar, Aiyengar, Anthony Kim, Kim, Michal Katz, Katz, Anirban Sen, Chizu Organizations: REUTERS, Goldman Sachs Group Inc, Reuters NEXT, Federal Reserve, Bank of America, Chevron Corp, Hess Corp, Exxon Mobil Corp, Natural Resources, JPMorgan Chase &, Microsoft Corp, Illumina Inc, Centerview Partners, Greenhill, Co Inc, Thomson Locations: New York City , New York, U.S, East, Ukraine, Americas, United States, New York

☆ Scientists detect oxygen in noxious atmosphere of Venus
▼ + stars: | 2023-11-08 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Data from NASA's Magellan spacecraft and Pioneer Venus Orbiter is used in an undated composite image of the planet Venus. Its thick and noxious atmosphere is dominated by carbon dioxide - 96.5% - with lesser amounts of nitrogen and trace gases. In fact, with Venus getting far less scientific attention than other planets such as Mars, the direct detection of its oxygen has remained difficult. They noted that this atomic oxygen, which consists of a single oxygen atom, differs from molecular oxygen, which consists of two oxygen atoms and is breathable. "The Venus atmosphere is very dense.

Persons: Heinz, Wilhelm Hübers, Hübers, Helmut Wiesemeyer, Max Planck, Wiesemeyer, Will Dunham, Rosalba O'Brien Organizations: NASA, JPL, Caltech, Handout, REUTERS, Rights, Venus, Boeing, German Aerospace Center, Nature Communications, Max Planck Institute for Radio Astronomy, Thomson Locations: SOFIA, Hawaii, Germany

☆ Legendary oil mogul Harold Hamm eyes the next stage in the US shale oil boom: 'Generation 3' rock
▼ + stars: | 2023-11-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Shale industry legend Harold Hamm is looking to pull crude from "Generation 3" rock. This is a tougher form of rock that was largely neglected earlier in the shale revolution. AdvertisementAdvertisementShale industry legend Harold Hamm is looking ahead to the next potential breakthrough in US crude production. Hamm made a name for himself by applying horizontal drilling techniques to unlock vast amounts of oil in North Dakota's Bakken shale region. According to Bloomberg's calculations, oil drillers need crude prices of $86 or more to make their costliest wells profitable, up 50% since March 2022.

Persons: Harold Hamm, —, Hamm Organizations: Service, Bloomberg, Continental Resources, Exxon, Natural Resources Locations: North, Oklahoma

☆ Read the email the CEO of WeWork sent to US-based members as the company filed for bankruptcy
▼ + stars: | 2023-11-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

WeWork filed for Chapter 11 bankruptcy protection in the US on Monday. WeWork CEO David Tolley assured US-based members in an email that its spaces remain open. AdvertisementAdvertisementOn Monday, WeWork CEO David Tolley wrote an email to the company's US-based members, writing that WeWork spaces will continue with their operations and that their membership agreements will not be affected by the filing. He added the bankruptcy protection filing will allow WeWork to continue to restructure its financial position while continuing day-to-day operations. Throughout this process, WeWork spaces will continue to be operated to the highest standard.

Persons: WeWork, David Tolley, —, Tolley, David Organizations: Service, U.S Locations: Canada

☆ Ryanair sees record annual profit, first regular dividend as fares soar
▼ + stars: | 2023-11-06 | by ( Conor Humphries | ) www.reuters.com time to read: +2 min

SummaryCompanies Fares up 24% during summer seasonProfit up 59% in six months to end-SeptemberFirst regular dividend of 400 mln eur due next yearDUBLIN, Nov 6 (Reuters) - Ryanair (RYA.I) on Monday forecast a record annual profit and promised to pay investors a regular dividend for the first time after fares soared 24% during the summer season. Europe's largest airline by passenger numbers said it expects an after-tax profit of between 1.85 billion and 2.05 billion euros for the year to end-March, easily beating its previous record of 1.45 billion euros in 2018. "We're pleased to report strong half year results ... due to a very strong Easter, record summer traffic," Group Chief Executive Michael O'Leary said in a video presentation. A maiden ordinary dividend of 400 million euros will be split between an interim payment of 200 million euros in February and a final dividend of 200 million euros in September next year. For subsequent financial years Ryanair plans to return approximately 25% of the after-tax profit posted the previous year by way of an ordinary dividend, the airline said.

Persons: We're, Michael O'Leary, Neil Sorahan, Sorahan, Conor Humphries, Simon Cameron, Moore, Kirsten Donovan Organizations: Ryanair, Europe's, Irish, Boeing, MAX, Thomson Locations: DUBLIN, Europe

☆ Ryanair forecasts record annual profit, promises regular dividend as fares soar
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 6 (Reuters) - Ryanair (RYA.I) on Monday forecast a record annual profit and promised to pay investors a regular dividend for the first time after fares soared 24% during its key summer season. Europe's largest airline by passenger numbers said it expects an after-tax profit of between 1.85 billion and 2.05 billion euros for the year to end-March, easily beating its previous record of 1.45 billion euros in 2018. The low-cost pioneer earned 2.18 billion euros in the six months to the end of September, the first half of its financial year, 59% ahead of its previous record for the period, set last year. The airline announced its maiden ordinary dividend of 400 million euros, split between an interim payment of 200 million euros in February and a final dividend of 200 million euros in September next year. For subsequent financial years under a new dividend policy, Ryanair plans to return approximately 25% of the after-tax profit posted the previous year by way of ordinary dividend, the airline said.

Persons: Conor Humphries, Simon Cameron, Moore Organizations: DUBLIN, Ryanair, Europe's, Thomson

It also touted a new version of its AI model called GPT-4 with vision, or GPT-4V, that enables the chatbot to analyze images. ChatGPT has more than 100 million weekly active users and 2 million developers, spread “entirely by word of mouth," Altman said. The conference comes a week after President Joe Biden signed an executive order that will set some of the first U.S. guardrails on AI technology. The order built on voluntary commitments set by the White House that leading AI developers made earlier this year. OpenAI also faces competition from developers of so-called open source models that publicly release their code and other aspects of the system for free.

Persons: ChatGPT, you’ll, ”, Sam Altman, Altman, Alyssa Hwang, Hwang, ” Hwang, OpenAI, DevDay, Joe Biden, Satya Nadella, Nadella, ” Altman, Microsoft's Bing, Bard, Claude, Tesla, Elon Musk, Musk, “ Elon's, Arun Chandrasekaran, Chandrasekaran, Goldman Sachs, — — O'Brien, — Organizations: FRANCISCO, Apple, Honda, University of Pennsylvania, Microsoft, Google, White, Twitter, ”, Associated Press Locations: OpenAI's, San Francisco, U.S, Providence , Rhode Island

☆ Parenting tips from a traditional British 'Mary Poppins' nanny — from handling tantrums to limiting tablet time
▼ + stars: | 2023-11-06 | by ( Lucy Handley | ) www.cnbc.com time to read: +9 min

For every nanny who graduates, there are around 8 to 10 permanent jobs available via the Norland Agency. Knowing that she wanted to work with children, Alice explored teaching via a school internship, but felt a less structured setting would better suit her. Students at Norland College, whose uniform has been likened to Mary Poppins' outfit. Prince George's nanny, Maria Teresa Turrion Borrallo, in a formal Norland uniform, talks to Queen Elizabeth II at the Christening of Princess Charlotte of Cambridge on July 5, 2015. "But really, you're you're saying [these are] the warm weather outfits that you can wear, so you're keeping them safe, while so allowing them to be in control," she added.

Persons: Princess Charlotte of, Prince, Princess, Wales, Maria Teresa Turrion Borrallo, Queen Elizabeth II, nannies —, —, Mary Poppins, Alice, Norland, Emily Ward, Friedrich Fröbel, Norland nannies, they're, Prince George's, Chris Jackson, that's, I'm, you've Organizations: Norland, Norland Agency, CNBC, Norland College, Princess Charlotte of Cambridge, Getty Locations: Bath, Princess Charlotte of Cambridge, London, Afghanistan, New York City

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