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New York CNN —General Motors is cutting an unspecified number of white-collar jobs globally, part of its announced efforts to slash costs to remain competitive in the shift to electric vehicles. GM has 58,000 salaried US-based staff and 46,000 US unionized hourly workers, making up the majority of its 167,000 employees worldwide. GM has said it will invest $35 billion between now and 2025 in the shift to EVs. Both Ford (F) and GM (GM) face contract negotiations with the United Auto Workers union this fall on new labor deals for their US hourly workers. The union went on strike at GM (GM) for six weeks in 2019 before reaching a deal on its current contract.

☆ GM cutting hundreds of jobs as it looks to reduce costs
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

Feb 28 (Reuters) - General Motors Co (GM.N) is cutting hundreds of executive-level and salaried jobs as it looks to cut costs, a person briefed on the matter told Reuters. The global reductions are in the "low hundreds," the person said. GM Chief People Officer Arden Hoffman said in a letter to employees on Tuesday the Detroit automaker is "committed to $2 billion in cost savings in the next two years, which we’ll find by reducing corporate expenses, overhead, and complexity in all our products." The cuts were reported earlier by the Detroit News. Reporting by David Shepardson in Washington and Kannaki Deka; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ General Motors cuts 500 salaried employees
▼ + stars: | 2023-02-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors is cutting hundreds of salaried positions as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits. The cuts affect about 500 positions, according to a person familiar with the plans, which were announced internally Tuesday. The letter characterized the cuts, which follow performance evaluations, would impact a "small number of global executives and classified employees following our most recent performance calibration." The 500 job cuts make up less than 1% of GM's salaried workforce. Others such as Rivian Automotive also made salaried cuts, while Stellantis said it would idle a plant in Illinois.

☆ NHL roundup: William Nylander's OT goal lifts Leafs past Wild
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +4 min

Mandatory Credit: Dan Hamilton-USA TODAY SportsFebruary 25 - William Nylander scored at 1:05 of overtime and the Toronto Maple Leafs defeated the visiting Minnesota Wild 2-1 on Friday night. David Kampf also scored for the Maple Leafs, who have won two in a row. Brandon Duhaime scored for the Wild, who had won their fourth straight game 2-0 on Thursday against the Columbus Blue Jackets. Canadiens 5, Flyers 2Jesse Ylonen had one goal and one assist to lift Montreal past host Philadelphia. Compher and Nathan MacKinnon each had a goal and an assist for visiting Colorado in a win over Winnipeg.

☆ American Girl enters the 1990s with a new set of 'historical' dolls from the not-so-distant past
▼ + stars: | 2023-02-24 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

American Girl announced its first set of twin dolls since the company's founding in 1986. The sisters are historical characters from the year 1999, and their accessories are a blast from the past. American Girl has produced historical characters from each decade of the 20th century. The latest additions to the historical characters have people speculating what a doll from the 2000s will eventually look like. American Girl has had a historical character for each decade of the 20th century, and a few dolls from the 19th century.

☆ She's visited 63 countries by herself — and now coaches others on how to travel solo
▼ + stars: | 2023-02-23 | by ( Lucy Handley | Chris Dwyer | ) www.cnbc.com time to read: +7 min

She's visited 63 countries alone, she said, and now coaches others on how to go solo. She said people enjoy solo travel because they don't need to take anyone else's interests into account. Group toursGroup tours are another popular option for solo travelers. It has added more single-occupancy cabins with no single supplement, which are extra fees that solo travelers are sometimes charged to stay in a room by themselves. Solo travel tipsHoffman offered advice for people who are traveling alone.

☆ ChatGPT-maker OpenAI has hired tons of former Google and Meta employees, new data shows
▼ + stars: | 2023-02-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Last year, the company hired several Google staff to do "instrumental" work on ChatGPT. Data from LeadGenius and Punks & Pinstripes shows that a number of the company's 200-plus employees came from Alphabet, the parent company of Google and AI research lab DeepMind. OpenAI currently employs about 59 ex-Google employees and about 34 former Meta staff, according to the data. Data from Lead Genius and Punks & Pinstripes shows ex-Google staff make up a large portion of the company's staff. The Information previously reported that OpenAI hired several Google employees to do "instrumental" work on ChatGPT in the months leading up to its November launch.

☆ 'Unpredictable' election in Africa's largest economy is set to resonate around the world
▼ + stars: | 2023-02-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

After 24 years of uninterrupted democracy since ending military dictatorship in 1999, Africa's most populous nation and largest economy is conducting its seventh election. Muhammadu Buhari, Nigeria's president, speaks during the U.S.-Africa Business Forum in New York. Leena Koni Hoffmann, associate fellow of the Africa Programme at Chatham House, told CNBC on Monday that the presidential election will be the "most unpredictable" since the transition to civilian rule. Alongside the Covid-19 pandemic and war in Ukraine, Koni Hoffmann noted "missed opportunities" and "self-inflicted crises" under Buhari's regime. Economists panned the decision, which Koni Hoffmann suggested rendered Nigeria and its neighbors more vulnerable to the damage of the pandemic.

☆ OpenAI cofounder Elon Musk said the non-profit he helped create is now focused on 'maximum-profit,' which is 'not what I intended at all'
▼ + stars: | 2023-02-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk said OpenAI has become a "maximum-profit," closed-source firm "effectively controlled by Microsoft." The billionaire said this is not what he "intended" when he co-founded the company in 2015. Musk wrote in response: "OpenAI was created as an open source (which is why I named it "Open" AI), non-profit company to serve as a counterweight to Google, but now it has become a closed source, maximum-profit company effectively controlled by Microsoft. The company announced a partnership with Microsoft the same year and welcomed a $1 billion investment from the tech giant. Speaking at the 2023 World Government Summit in Dubai this week Musk said "we need to regulate AI Safety."

☆ Sam Altman is tech’s next household name — if we survive the killer robots
▼ + stars: | 2023-02-17 | by ( David Ingram | ) www.cnbc.com time to read: +11 min

Sam Altman, CEO of OpenAI, walks from lunch during the Allen & Company Sun Valley Conference on July 6, 2022, in Sun Valley, Idaho. Sam Altman may be tech's next household name, but many Americans probably haven't heard of him. To anyone outside San Francisco, Altman would probably seem like just another young tech CEO. That worldview flared up into controversy in 2017 when Altman wrote a blog post criticizing political correctness, saying tech entrepreneurs were leaving San Francisco over it. "I realized I felt more comfortable discussing controversial ideas in Beijing than in San Francisco," he wrote.

☆ Buy these 12 stocks to profit from higher-than-expected price growth, according to an inflation fund manager who beat 96% of his competitors last year
▼ + stars: | 2023-02-16 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Top fund manager Simon Lack shared 12 top stocks to buy while inflation remains hot. The news confirmed what Simon Lack, a 37-year market veteran who runs a leading inflation fund, has long suspected: that price growth will remain an issue for investors throughout 2023 — and possibly beyond. If high inflation is the new normal, the Fed will struggle to achieve its goal of stabilizing prices, Lack said — at least not without causing a recession. His Rational Inflation Growth Fund (IGOAX) finished in the top 4% of its category in 2022 after beating its index by 14 percentage points, according to Morningstar. By contrast, his fund goes on offense by owning stocks in sectors that benefit from high prices.

☆ After a bumper run, analysts say these 3 oil and gas stocks are set for another 50% rise
▼ + stars: | 2023-02-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

The oil and gas sector provided investors stellar returns in 2022 when the rest of the market failed to perform. The S & P Oil & Gas Exploration & Production Index was up 45% last year. Analysts and fund managers say several key factors may push up oil prices in the near future. Earthstone Energy Shares of Earthstone , a Texas-headquartered independent oil and gas company, are expected to go up by 85.8% by analysts over the next year. Meanwhile, the benchmark S & P Oil & Gas Exploration & Production Index has risen by 3% over the same period.

☆ NHL roundup: Adrian Kempe, Kings pound Penguins
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +10 min

Mika Zibanejad scored his 27th goal, Kaapo Kakko also found the net and Vincent Trocheck and Jimmy Vesey each added two assists. Carolina's Sebastian Aho saw his six-game goal streak end. Blues 6, Coyotes 5 (OT)Ryan O'Reilly scored the winning goal 1:02 into overtime to lift St. Louis past visiting Arizona. Scott Wedgewood made 28 saves in his first appearance since blanking the Los Angeles Kings 4-0 on Jan. 19. Jonatan Berggren scored two goals, Filip Hronek scored a goal, and Ben Chiarot had two assists for the Red Wings.

☆ Twilio executives scheduled an unusual Sunday meeting right before the Super Bowl, and now employees are worried about a reorg or layoffs
▼ + stars: | 2023-02-12 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

Twilio CEO Jeff Lawson scheduled a meeting with other top execs just before the Super Bowl. The meeting, and other developments, have stoked employee concern about a possible reorg and more layoffs. Twilio co-founder and CEO Jeff Lawson has an unusual meeting scheduled with other top executives of the tech company an hour or so before the Super Bowl starts on Sunday. The recently organized gathering has employees anticipating big changes, including a potential reorganization and maybe more layoffs. The employee said Twilio recently moved the results date back, although didn't know the reason.

☆ The ChatGPT AI hype cycle is peaking, but even tech skeptics don't expect a bust
▼ + stars: | 2023-02-11 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +18 min

Even the skeptics of the latest hype cycle recounted during the Town Hall numerous examples of how AI is already embedded in more efficient business processes. The arrival of ChatGPT and generative AI only a few years after the hype cycle over the metaverse has attracted both the AI bulls and bears as tech pursues its next big thing. Another executive who works with lawyers and accountants said the sentiment right now is that AI is not to replace lawyers, but "lawyers using AI are gonna replace lawyers." And what generative AI does, is really help you crunch, take your machine learning to, you know, the 'nth' level of the finite level. That may also place AI in the crosshairs of ESG investors, making sure that the ethics part is part of the mission of companies using it.

☆ Forbes deal scrutiny shows how aggressive U.S. regulators are, says Semafor's Hoffman
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailForbes deal scrutiny shows how aggressive U.S. regulators are, says Semafor's HoffmanLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss the scrutiny behind the Forbes deal, how Washington thinks about foreign investors, and more.

☆ The founder behind ChatGPT once gave a lecture on how to launch a startup. It's still required viewing 9 years later.
▼ + stars: | 2023-02-06 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +6 min

He gave a lecture at Stanford in 2014 explaining what it takes to build a successful startup. Aspiring founders today still find his advice on things like coming up with great ideas relevant. The best ideas are often the ones that seem like bad ideasAltman also told aspiring founders that good startup ideas are often considered seem like bad ideas for a while. "Most die because they themselves fail to make something users love; they spend their time on other things." Once you've gained those users, Altman said, it's important to listen to them and learn everything you can about them.

☆ ChatGPT introduced AI to the masses and it's already affecting us
▼ + stars: | 2023-02-02 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

ChatGPT is part of a growing field of AI known as generative AI. Funding for generative AI companies reached $1.37 billion in 2022 alone, according to Pitchbook. "Generative AI is very different. But generative AI still faces a number of challenges, including developing content that is inaccurate, biased or inappropriate. Watch the video to learn more about how generative AI like ChatGPT works and what the technology may mean for businesses and society as a whole.

☆ The end of superstar bankers: The changing face of Wall Street
▼ + stars: | 2023-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe end of superstar bankers: The changing face of Wall StreetLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss why the era of the super star banker may be no longer, the changing economic landscape for bankers and more.

☆ NHL roundup: Hurricanes storm back, edge Kings in OT
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

[1/3] FJan 31, 2023; Raleigh, North Carolina, USA; Carolina Hurricanes center Sebastian Aho (20) skates with the puck past Los Angeles Kings defenseman Mikey Anderson (44) during the first period at PNC Arena. The Hurricanes earned their sixth straight win while extending their point streak to nine games (8-0-1). The Kings appeared to take control in the second period; instead they wrapped up January with a 7-5-1 record. Anze Kopitar added a goal and two assists, Kevin Fiala also scored and Drew Doughty logged two assists. Johnny Gaudreau scored his 14th goal of the season for the Blue Jackets, who have lost four of their past five.

☆ Formula 1: Audi buys minority stake in Sauber ahead of 2026 F1 entry
▼ + stars: | 2023-01-31 | by ( Amar Mehta | ) www.cnbc.com time to read: +3 min

A show model Audi Formula 1 car on Aug. 26 2022 in Belgium after announcing its participation in the F1 Grand Prix of Belgium. Audi's entry into Formula 1 has moved a step closer after the German car manufacturer acquired a minority stake in Sauber. The purchase comes three months after Sauber confirmed they would become Audi's strategic partner when the German marque enters Formula 1 in 2026. On Jan. 14, Andreas Seidl replaced Vasseur as Sauber's chief executive after the latter joined Ferrari , and will oversee Audi's entry into F1. In a statement sent to Sky Sports, an Audi spokesperson said this is a "key milestone" for the German's F1 entry in 2026.

But to reach its ultimate destination - supermarket shelves - cultivated meat faces big obstacles, five executives told Reuters. California-based cultivated meat company GOOD Meat already has an application pending with the FDA, which has not been previously reported. Regulatory approval is just the first hurdle for making cultivated meat accessible to a broad swath of consumers, executives at UPSIDE, Mosa Meat, Believer Meats, and GOOD Meat told Reuters. But it will take hundreds of millions of dollars for GOOD Meat, for example, to build bioreactors of the size needed to make its meat at scale, Tetrick said. But cultivated meat companies have the advantage that they can claim their product is real meat, Tetrick said.

Five decades ago, Jim Ziglar witnessed the landmark Roe v. Wade decision take shape inside the Supreme Court chambers. Jim Ziglar, center left, clerked for Justice Harry Blackmun, center right, in 1972-1973, the session in which Blackmun wrote the landmark majority decision for Roe v. Wade. Blackmun, Frampton said, "really wanted to become an expert in the history of abortion and the history of abortion law." The Supreme Court clerks who served in the 1972-1973 session, in which the Roe v. Wade decision was handed down. Richard Hoffman and Rhesa Barksdale worked as clerks for Supreme Court Justice Byron White in the 1972-1973 session, in which White wrote the dissenting opinion in the landmark Roe v. Wade decision.

☆ Why the 4-day work week isn't the kind of perk most workers want: It's 'an upper-class issue'
▼ + stars: | 2023-01-20 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Four-day work week trials across the world have been successful for both employers and workers. But when it comes to the four-day work week, that's "an upper-class issue," Gennip said. "They're happy to do a 15-hour stretch, but they want an eight-hour break"Recent studies show that four-day work trials have been big successes. "We have Amazon workers who do four-day work weeks, but ten hours days, and they would prefer five eight-hour days." "Some people would rather have a five-day work week and have six weeks off," she said.

☆ A Dutch executive chides Americans for not taking more vacation
▼ + stars: | 2023-01-20 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

Some US workers aren't provided much vacation, while others are leaving unused days on the table. Including paid holidays as well as vacation days, the average American took over 20 days off between 1978 and 2000, but this has fallen to roughly 17 days in recent years. The fact that many vacation days are left unused is even more notable when one considers how few vacation days most Americans have to begin with when compared to the rest of the world. The US is the only country in the OECD, a group of 38 of the world's most developed nations, that does not require businesses to offer any paid vacation or paid holidays. For these people — many of whom are among the lowest-wage workers — choosing to not use all of their vacation days isn't even an option.

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