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☆ There's a catch in OpenAI's $6.6 billion funding deal that no one is talking about
▼ + stars: | 2024-10-04 | by ( Natalie Musumeci | Alex Bitter | ) www.businessinsider.com time to read: +6 min

There's an important stipulation on OpenAI's historic $6.6 billion funding round. AdvertisementOpenAI's historically large $6.6 billion funding round is bringing in checks from some of the biggest technology and venture capital investors. If the ChatGPT-maker doesn't complete its transition to a for-profit company within two years, investors in the latest round could ask for their money back, multiple outlets have said. But "if there's disagreement within the entity, then it's much harder for the regulators to approve it," he said. AdvertisementStill, the legal experts said that though OpenAI's transition to a for-profit company is a complicated one, it's doable.

Persons: —, there's, doesn't, OpenAI, Jill Horwitz, Horwitz, Alexander Reid, Reid, doable, Elon Musk, Sam Altman, Greg Brockman, Musk, Altman Organizations: Service, University of California, Los Angeles School of Law, Internal, SEC, IRS, Employees Locations: OpenAI, Delaware, California

☆ One change I made to my social media use made a big difference on my mood
▼ + stars: | 2024-10-04 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

“It also makes you a lot nicer to be around.”Cutting out social media and screen time altogether may be too much to ask. And because social media algorithms are designed to hold your attention, negative content that grabs you will keep getting pushed to you, Armitage said. On the other hand, if you are getting sucked into email, social media or news, you are getting rolling before you’ve had a chance to plan your day mentally, Rutledge said. By starting the day without social media, you might also get a boost from increasing your sense of agency over the kinds of content you are consuming — rather than letting social media pull you into a mindless scroll, Rutledge said. “By doing these things you are taking control of your phone rather than your phone controlling you,” Armitage added.

Persons: CNN —, cohost Zach Kornfeld, didn’t, Pamela Rutledge, “, ” Rutledge, Charlotte Armitage, ” Armitage, Armitage, Rutledge, you’ve, ”, Organizations: CNN, Media Psychology Research Center, ”, “ Locations: Newport Beach , California

☆ Beyond Novo: Fund manager likes this under-the-radar pharma stock with a weight loss drug in the works
▼ + stars: | 2024-10-04 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

"Maybe that weight loss product (by United Laboratories) works, maybe it doesn't. United Laboratories' price-to-earnings of 5.8 times is a fraction of the 34.3 times that Novo Nordisk is trading at, Peche added. [United Laboratories] is making smooth progress in R & D and targets to launch Liraglutide in 2024. Their comments follow United Laboratories' "faster than expected earnings" growth in the first half of the year. Analysts' average price target on United Laboratories is 12.95 Hong Kong dollars, giving it 28.2% potential upside.

Persons: Sean Peche, it's, Peche, there's, that's, Eli Lilly, Amgen, Carol Dou, Sunny Chen, UOB Kay Hian, bode Organizations: Novo Nordisk, Ranmore Fund Management, United Laboratories, Pfizer, AstraZeneca, Global Equity Fund, Hong, Hong Kong bourse, HK Locations: Hong Kong, Novo, Europe, U.S

☆ I'm a computer science professor at UC Berkeley. Tech jobs are drying up and graduates are no longer guaranteed a role.
▼ + stars: | 2024-10-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

James O'Brien is a UC Berkeley professor who says tech graduates struggle to secure top jobs. O'Brien says we need to embrace universal basic income as AI shrinks the job market. AdvertisementThis as-told-to essay is based on a transcribed conversation with James O'Brien, a professor at the University of California, Berkeley. There's still demand for people, and some people are getting jobs, but not across the entire industry. AdvertisementThere are also people coming from other schools that don't have quite the strong reputation that Berkeley does, and they're not getting job offers at all.

Persons: James O'Brien, O'Brien, —, I've, It's, it's, they're, that's Organizations: UC Berkeley, Service, University of California Locations: Berkeley

The September jobs report came in stronger than expected, with 254,000 jobs added. AdvertisementThe latest jobs report might be just what Vice President Kamala Harris needs. The latest jobs report could change that — taking away some of former President Donald Trump's ammunition to hammer Harris on the economy. AdvertisementRecent days have included not only a stellar jobs report but also the end for now of the dockworkers' strike at East Coast ports. "With today's report, we've created 16 million jobs, unemployment remains low, and wages are growing faster than prices," the statement said.

Persons: Kamala Harris, Trump, Harris, Biden, —, Joe Biden, Donald Trump's, Matt Colyar, Colyar, Pew, leaners, they're, we've, Labor Julie Su, We've, we're Organizations: Service, Moody's, University of Michigan's, Consumers, Pew Research Center, Democratic, Republican, The New York Times, Siena College, Pew Research, Labor Locations: East Coast

☆ Israel’s economy is paying a high price for its widening war
▼ + stars: | 2024-10-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.

Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, ‘, Menahem Kahana, ”, “ Israel, “, Smotrich —, Flug, Ahmad Gharabli, Fitch, —, Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism

☆ The best Kitchenaid stand mixer attachments and accessories
▼ + stars: | 2024-10-03 | by ( Cory Fernandez | Cory Fernandez Is A Commerce Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +14 min

If you own a Kitchenaid stand mixer, then you know they’re a prized possession among home bakers and cooks. To further customize your cooking experience, there are tons of different accessories and attachments that you can use with your stand mixer. Below, I rounded up some of the best Kitchenaid-compatible stand mixer attachments and accessories that’ll streamline all of your culinary projects. How I picked the best Kitchenaid stand mixer attachments and accessoriesHere’s what I recommend prioritizing when looking for a Kitchenaid stand mixer attachment or accessory, based on my experience as a home cook and insight from Dan Langan, a food content creator and author. This fitted stand mixer cover helps prevent your appliance from collecting dust when you’re not using it and shields your mixer from accidental spills or splashes.

Persons: Stanley, they’ve, Dan Langan, Langan, ”, “, Zoe Malin, who’s, ” Malin, you’re, TikTok Organizations: NBC, Metro Design, ., Facebook, Twitter Locations: it’s, cheddar

☆ Drone deliveries, slow to take flight, come to Silicon Valley
▼ + stars: | 2024-10-03 | by ( Mike Gagliardi | Mike Gagliardi Is A Researcher With The Nbc News Network Desk. | ) www.nbcnews.com time to read: +2 min

Samaras said his research indicated that drone delivery, compared to fossil-fuel truck delivery, consumes up to 90% less energy per package. Zipline, the world’s largest drone delivery service, is among the companies that have received that permission in several states. The company plans to go nationwide with drone delivery in 2026. A spokesperson for Amazon’s Prime Air drone-delivery program told NBC News it hopes to be delivering 500 million packages per year by the end of this decade. The FAA told NBC News that there are currently more than 383,000 drones registered for commercial purposes.

Persons: Samaras, ” Eric Watson, Watson, Yanfeng Ouyang, “, ” Ouyang, ” Organizations: Federal Aviation Administration, NBC, Amazon’s Prime, FAA, NBC News, University of Illinois Locations: Arkansas, Utah, Dallas, University of Illinois Urbana, Champaign

Housing is one of many issues Vance, the Republican nominee, believes are rooted in the arrival of undocumented migrants in America. But many economists caution that connecting rising numbers of immigrants to housing costs is no simple thing. Other economists have noted links between immigrants and increased housing costs. Vance later shared two studies on housing and immigration that showed a link between increased immigration and rising housing costs — though each offered various caveats, including noting that the impact changes over time. Indeed, Zillow data shows a clear upward trend in Springfield rents this year compared with 2023.

Persons: America’s, Sen, JD Vance, Tim Walz, Vance, you’ve, ” Vance, Donald Trump, Walz, ”, ” Walz, Kamala Harris, Ernie Tedeschi, Joe Biden, Vance’s, Michelle Bowman, Chris Herbert, Herbert, Sharon Cornelissen, Bryan Heck, Democratic Sen, Sherrod Brown, Heck, ” Heck Organizations: Minnesota Gov, Republican, CBS, Democratic, NBC, White House, Federal, Cato Institute, Harvard University’s, for Housing Studies, Consumer Federation of America, NBC Boston Locations: Ohio, America, Springfield , Ohio, U.S, New York City, Los Angeles, Dearborn, Hamtramck, Detroit, Brockton , Massachusetts, Haiti, Cape Verde, Central, South America, Springfield, Washington

Best Credit Card Sign-Up Bonuses of 2024Compare the Top Credit Card Sign-Up BonusesChase Sapphire Preferred® Card Insider’s Rating Info icon Business Insider's Ratings are decided by our editorial team. Other credit cards offer higher rewards in certain categories of spending Insider’s Take If you want an easy, no-fuss travel rewards credit card, the Capital One Venture Rewards Credit Card is a great fit. Credit Card Sign-Up Bonus ReviewsThe sign-up bonus is one of the best perks anyone can get from a new credit card. Other credit cards offer higher rewards in certain categories of spending Insider’s Take If you want an easy, no-fuss travel rewards credit card, the Capital One Venture Rewards Credit Card is a great fit. But before you apply for a new credit card, make sure you understand how credit card applications affect your credit score.

Persons: Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, Rose Gold, you'll, Miles, Chase, it's, Cash, Read, It's, You'll, cardholders, Wells, Jasmin Baron, Angela Fung Organizations: Business Insider, Citi, Premier, Marriott, Chase, Chase Travel, Sapphire, Express, American Express, Hilton, Saks, American, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, TSA, Global, Saks Fifth, AmexTravel.com, Capital, CitiTravel.com, EV, Citi Strata Premier, Business, United, Amex, Resorts, British Airways, Miles, Card Citi, Citi Premier, Finance Locations: Hulu, U.S, ThankYou.com, Canada

☆ I'm an American mom living in Spain. When we visit the US, my son is surprised by the 'fancy' cars and how sugary breakfast is.
▼ + stars: | 2024-10-03 | by ( Jennifer Fernández Solano | ) www.businessinsider.com time to read: +6 min

He's surprised by how much junk food and sugary breakfast options there are in the US. AdvertisementThis as-told-to essay is based on a conversation with Jennison Grigsby, an American mom and yoga teacher who lives in Valencia, Spain. Related storiesLiving in Spain, he's used to seeing buses in front of our house every day, and we often take the bus together. Luca's usual breakfast in Spain is fruit and sometimes cereal, but not the sugary kinds I had growing up in the US. Plus, getting out of that cold water and feeling freezing isn't something he's used to, especially compared to the warm, inviting beaches in Spain.

Persons: Luca, He's, —, Jennison Grigsby, It's, we've, he's, There's Organizations: Service, Ford, Ferraris Locations: American, Spain, Valencia, Los Angeles, California

☆ Everyone wants to know what AI is worth. One investor looked to the past for the $20 trillion answer.
▼ + stars: | 2024-10-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Miller's team compared AI's growth with past tech waves, finding consistent growth rates. In fact, the generative-AI wave looks a lot more like past tech waves than its revolutionary capabilities would suggest. That "rule of three" theory puts the value of the AI wave at about $20 trillion. Miller likened the AI wave to the mobile wave in about 2009, when there were few applications for the iPhone. "So the question is if compute is the primary underlying driver of economic activity, economic growth, economic opportunity, then there's an argument that it's actually bigger."

Persons: Ben Miller, Miller, Nvidia wouldn't, —, Jensen Huang, Everybody's, Anthropic's Claude, Fundrise, shortsighted, it's, We'll, they're Organizations: Nvidia, Service, Cisco, Intel, Business, Adobe, AMD, Meta, Microsoft, Bloomberg, IDC

☆ One of Iran's most advanced missiles made an appearance in its massive attack on Israel
▼ + stars: | 2024-10-03 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Iran said it fired its new Fattah missile during the attack against Israel on Tuesday. The medium-range ballistic missile is one of the most advanced in Iran's arsenal. AFP via Getty ImagesThe Fattah-1 is a medium-range ballistic missile considered one of the most advanced in Iran's arsenal. In April, Iran launched a much larger barrage overall with around 170 attack drones, 30 cruise missiles, and 120 ballistic missiles. Still, some of the Iranian missiles managed to impact on land, although they did not appear to cause significant damage.

Persons: —, Hassan Nasrallah, Ismail Haniyeh, Shaan Shaikh, Farzin, Chen Junqing, Shaikh Organizations: Israel, Service, Islamic Revolutionary Guard Corps, Business, Getty, Missle, Center for Strategic, International Studies, The Washington Institute for Near East, Getty Images, Institute for, AP, American, Iranian Locations: Iran, Tehran, Israel, Iranian, AFP, Jerusalem, Xinhua

☆ AI turned a two-month task into hours, says JLL CMO Siddharth Taparia
▼ + stars: | 2024-10-03 | by ( Julia Hood | Will Wei | ) www.businessinsider.com time to read: +3 min

Siddharth Taparia: When it comes to marketing, I think one of the things that is top of mind for everybody is artificial intelligence. Siddharth Taparia, I'm the global chief marketing officer for JLL, which is a Fortune 200 commercial real estate company. So our AI journey really started when Chat GPT was first launched, I believe it was November of 2022. So we started talking and experimenting and playing with all the different tools that were becoming available in the marketplace. The whole process from start to finish would've taken anywhere from four to six weeks.

Persons: Siddharth Taparia, GPT, would've Organizations: Fortune

Latina women working full time, year-round earn 58 cents for every dollar paid to white, non-Hispanic men, according to data collected by the National Women's Law Center. That gap in pay translates to a loss of nearly $1.3 million over a 40-year career. Break that down further and Latinas lose $32,070 in wages per year, or $2,672 every month, compared with the dominant cohort. "The increase in lifetime losses and widening of the wage gap for all Latina workers, including part-time workers, is likely because white men's wages are increasing at a faster rate than other demographic groups," said Ashir Coillberg, NWLC senior research analyst. Despite the narrow improvement for full-time workers, the gap actually widens for part-time and part-year Latina workers, falling to 51 cents on the dollar compared with 52 cents last year.

Persons: NWLC, Ashir Coillberg Organizations: National Women's Law, Latina Locations: San Diego, San Diego , CA

☆ CNBC's Inside India newsletter: The 'sticky' outsourcing firms on the rise
▼ + stars: | 2024-10-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Over the years, the services sector of the Indian economy has grown to account for 45% of total exports, up from 30% a decade ago. The Indian government, meanwhile, has been eager to support the manufacturing sector in creating mass employment, a key economic and political challenge that the services sector alone hasn't been able to address. These companies also boast moats that make them unique compared to the large BPO firms of the last three decades. Perhaps it could also address some of the risks to employment created in the BPO sector from artificial intelligence.

Persons: hasn't, Cyient isn't, Peers, Larsen, Toubro's, Kunal Desai, Desai Organizations: Capital Economics, nab, Microsoft, Siemens, GIB Asset Management, CNBC Locations: India, London, Philippines, Mexico, Brazil, Poland, Malaysia

☆ Supply chain disruptions could benefit these stocks, Goldman Sachs says
▼ + stars: | 2024-10-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Trade tensions, too, have resulted in tariffs and affected world trade in certain goods. The market for companies in this space is driven by the volume of global trade, and this so-called supply chain "complexity," Goldman noted. It sees some stocks as being able to benefit from higher supply chain "complexity." Freight-forwarding firms such as DSV , DHL Forwarding and Kuehne+Nagel are "well-placed to help their clients navigate higher complexity and shocks," Goldman said. Container lines such as Cosco, Maersk and Hapag-Lloyd are less directly exposed to the higher supply chain complexity, said Goldman.

Persons: Goldman Sachs, Goldman, deglobalization, Nagel, Lloyd, — CNBC's Michael Bloom Organizations: U.S ., Logistics & Shipping, Logistics, DHL, Goldman, Express, Fedex, UPS, Maersk, Hapag Locations: U.S . East Coast, Gulf Coast

☆ Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley
▼ + stars: | 2024-10-03 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Morgan Stanley estimates Amazon can cut 13,834 managers and save roughly $3 billion next year. Morgan Stanley assumed that the cost per manager was $200,000 to $350,000 a year. Based on those numbers, Amazon would stand to save $2.1 billion to $3.6 billion next year if it cut those 13,834 manager roles. Morgan Stanley estimated that the savings would account for roughly 3% to 5% of Amazon's projected operating profit for 2025. AdvertisementStill, Morgan Stanley sees a huge opportunity for Amazon to make itself more efficient with these big moves.

Persons: Morgan Stanley, Andy Jassy, —, Jassy, Morgan Organizations: Service, Amazon, Business

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☆ Nvidia stock jumps after CEO Jensen Huang says 'demand for Blackwell is insane'
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock rose as much as 5% on Thursday after CEO Jensen Huang noted strong demand for its Blackwell GPU. AdvertisementNvidia stock jumped as much as 5% on Thursday following comments from CEO Jensen Huang about the strong demand the company is experiencing for its next-generation Blackwell GPU chips. "Demand for Blackwell is insane," Huang said in an interview with CNBC on Wednesday after the market close. Advertisement"Blackwell is in full production, Blackwell is as planned," Huang said. Huang emphasized in the interview that Nvidia has its fingerprints all over various layers of the computing stack, from GPU chips to software to networking components.

Persons: Jensen Huang, Huang, Blackwell, —, Larry Ellison, Ellison, Elon Musk, Hopper, we're Organizations: Blackwell, Nvidia, Service, CNBC, Oracle

KYIV, Ukraine — Russian troops on Wednesday took charge of the eastern Ukrainian town of Vuhledar, a bastion that had resisted intense attacks since Russia launched its full-scale assault in 2022. Russian Telegram channels, however, published video of troops waving the Russian tricolor flag over shattered buildings. Russia has been using pincer tactics to trap and then constrict Ukrainian strongholds. Russian bloggers said Russia could now try to push towards Velyka Novosilka, just over 20 miles to the west. Russian forces currently control 98.5% of the Luhansk region and 60% of the Donetsk region.

Persons: Vladimir Putin, Ukrainsk, Novosilka Organizations: Russian, 72nd Mechanized Brigade, Facebook, Russian Telegram, Vuhledar, Armed Forces of Locations: KYIV, Ukraine, Ukrainian, Vuhledar, Russia, Donetsk, Luhansk, Moscow, Russian, Kyiv, Crimea, Russia’s Kursk, Pokrovsk, “, Armed Forces of Ukraine

☆ Here are the big things pulling the stock market in all different directions
▼ + stars: | 2024-10-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Apple Intelligence : Club stock Apple turned positive Wednesday, despite more analysts trimming their 2024 iPhone 16 estimates. Interestingly, Apple Intelligence is the sixth top reason someone would buy a new iPhone, according to a recent survey by JPMorgan analysts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, payrolls, Jensen Huang, Levi Strauss, Michelle Gass, Jim Cramer's, Jim Organizations: CNBC, ., U.S, Israel . Semiconductor, Broadcom, Nvidia, Accenture, Financial Times, Amazon, Apple Intelligence, Apple, JPMorgan, Club, Constellation Brands, Modelo, Jim Cramer's Charitable Locations: Iran, Israel, Corona, Pacifico

☆ No need to sell this AI data center play ahead of earnings — and updates on 3 more industrial stocks
▼ + stars: | 2024-10-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Deutsche Bank is striking a cautious tone on Dover 's stock ahead of the industrial conglomerate's upcoming earnings report. Late Tuesday, Deutsche Bank listed Dover as a short-term sell idea, suggesting the company will report underwhelming results that may pressure shares later this month. Other industrial stocks in our portfolio received price target increases this week, including Eaton, Stanley Black & Decker and Honeywell . Both firms raised their price target on the DeWalt owner's stock to $100 a share from $96 while maintaining hold or hold-equivalent ratings. Honeywell's price target was increased only slightly at Deutsche Bank — up merely $1 to $226 a share — and left unchanged at Barclays.

Persons: Jim Cramer, industrials, Barclays –, Stanley Black, Decker, Jim, Dover, Richard Tobin, there's, DOV YTD, DOV, It's, Eaton, Vimal Kapur, Jim Cramer's, SWK Organizations: Deutsche Bank, Federal Reserve, Barclays, Environmental Solutions, Wednesday, Honeywell, Deutsche Bank —, Barclays . Deutsche Bank, CNBC, Luza Locations: Dover, Eaton

☆ These 3 indicators are pointing to a healthy labor market similar to the pre-pandemic boom, according to Goldman Sachs
▼ + stars: | 2024-10-02 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Investors are worried that labor market weakness could thwart a soft landing. AdvertisementAs inflation creeps downward, investors are increasingly turning their attention to the labor market to look for clues of a soft landing. Labor market fundamentals remain strong, according to Joseph Briggs, co-lead of Goldman Sachs' global economics team and a former Federal Reserve senior economist. "If we take a broad assessment across a number of different labor market indicators, they are still roughly where they were from 2017 to 2019, and that was a pretty healthy labor market," Briggs said. AdvertisementIn Briggs' view, the following three indicators point to a normalizing late-cycle labor market, and in turn, a strong economy.

Persons: Goldman Sachs, Joseph Briggs doesn't, Briggs, —, shouldn't, Joseph Briggs, We're Organizations: Service, Labor, Federal Reserve, Real

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