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Alphabet moonshots are ready for launch
  + stars: | 2023-08-29 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +4 min
Alphabet logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Aug 29 (Reuters Breakingviews) - Alphabet (GOOGL.O) is poised to welcome the autumn harvest. Verily boss Stephen Gillett told employees this month that it will cut its ties to several of Alphabet’s services next year. Such a financial services business strays from Alphabet’s wheelhouse, and with artificial intelligence demanding fresh attention, it’s wise to be prudent about capital allocation. Waymo, the autonomous vehicle technology business, secured a vote of approval this month from San Francisco to operate driverless rideshares in the city.
Persons: Dado Ruvic, Ruth Porat, Morgan Stanley, , Stephen Gillett, wheelhouse, Chris Hohn’s, Ford, Porat, Verily, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: REUTERS, Reuters, Life Sciences, Wall Street Journal, Temasek, TCI Fund Investments, Google, Sciences, Wall, Thomson Locations: San Francisco
And those jurors will, no doubt, face intense scrutiny, which for many is reason enough to not want to serve. In fact, a majority of Americans said they were not personally interested in serving on a jury for Mr. Trump. The demographics of those who have served also differ notably from those of the general public. Two thirds of those who have served on a jury are over 50, compared with less than half of the general public. Former jurors skew slightly more Democratic than all Americans, and men are more likely than women to have served.
Persons: Trump
THE DEADLINE: Essays, by Jill LeporeIn 1636, at the height of the Dutch economic hysteria known as Tulipomania, John Harvard helped found the first college of the American colonies. It’s a good thing I do not have Jill Lepore’s job. The phrase “historical framework” is insufficient when it comes to Lepore, who also provides the picture and the glass. Through these figures Lepore covers American consumerism, literary biography, journalism, intellectual property law and other cultural curiosities. But it’s her inclinations toward misfits and old narratives we have taken for granted that make “The Deadline” glow.
Persons: Jill Lepore, John Harvard, Jill Lepore’s, John Harvard’s, , Lepore, Jane Franklin, Lela, Robert L, Ripley, Who ”, Rachel Carson, Mary Shelley, “ Frankenstein, Fredrick Douglass, Joan Didion’s, Ruth Bader Ginsburg’s, , Karl Marx, Walt Whitman Organizations: Yorker, Magna Carta, Mattel, Affordable, Lepore
The week after devastating wildfires swept across Maui, Hōkūlani Holt walked to the center of a grassy courtyard about 12 miles from Lahaina, just over the island’s steep mountains. A kumu hula, or hula teacher, Ms. Holt gathered about 50 listeners into a half-circle, and exhorted them to “lift your voice.” They each held a cup of water, a connection between the body, soul and ʻāina, Hawaiians’ expansive idea of the land. Several men and women blew hollowed-out bamboo pipes called pū ʻohe, producing a deep, trumpetlike sound. Then, led by Ms. Holt’s voice, the group began to chant. After the country’s deadliest fire in more than a century — at least 115 people have been confirmed dead, with hundreds still missing — practical recovery responses were clicking into place: food distribution, debris cleanup, a visit from the president.
Persons: Hōkūlani Holt, Holt, , Holt’s Locations: Maui, Lahaina
Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsTo be sure, Japan and China are still forces to be reckoned with. But they don't bestride the Treasuries market like they once did, nor does the threat of them selling strike the same fear into bond investors, global markets at large, and even policymakers in Washington. China's Treasuries holdings fell a valuation-adjusted $34 billion in the first half of the year, although its U.S. agency debt holdings rose nearly $20 billion. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsWith U.S. bond yields at their highest since the late 2000s, the widening yield gap is pushing the yuan and yen to historically low levels against the dollar. Speculation is rising that Beijing or Tokyo could soon dip into their Treasuries holdings to fund dollar-selling intervention in the currency market.
Persons: Kim Hong, Brad Setser, Carol Bertaut, Ruth Judson, Judson, Jamie McGeever, Jonathan Oatis Organizations: South Korean, REUTERS, Rights, Treasuries, . Treasury, Federal Reserve, Reuters, of Foreign Relations, Treasury, U.S, Bank of America, Thomson Locations: Rights ORLANDO , Florida, Japan, China, Belgium, Britain, Washington, Foreign, U.S, Beijing, Tokyo
Net borrowing, excluding state-owned banks, stood at 4.3 billion pounds ($5.49 billion) last month, less than the median forecast of 5.0 billion pounds in a Reuters poll of economists. In the first four months of the financial year, borrowing stood at 56.6 billion pounds. "As inflation slows, it's vital that we don’t alter our course and continue to act responsibly with the public finances," Hunt said in a statement after the data. Interest costs rose by 1.5 billion pounds compared with July last year to 7.7 billion pounds, the highest for July since records began in April 1997. The public finances were boosted by inflows of self-assessed income tax receipts which are typically strong in July, which stood at 11.8 billion pounds, 2.5 billion pounds more than in July last year.
Persons: Jeremy Hunt, Jessica Taylor, Handout, Hunt, Rishi Sunak, Liz Truss's, Ruth Gregory, Gregory, Gabriella Dickens, William Schomberg, Sachin Ravikumar, Andrew Heavens, Tomasz Janowski Organizations: REUTERS Acquire, Reuters, Bank of England, Conservative Party, Treasury, Capital Economics, Senior, National Statistics, Britain's, Thomson Locations: London, Britain
One Black, one white. In 1995, Ruth J. Simmons, the elder of the two, became the first Black president of Smith, one of the largest of the Seven Sisters colleges. But that wasn’t her last first; in 2001, she left Smith to take the helm at Brown University, making history again by virtue of both her race and her gender — the first Black woman to lead an Ivy League institution, which she did until 2012. In 2007, Drew Gilpin Faust was named the first woman president of Harvard University, a post she held until 2018. As the youngest of 12 children, she had a comparatively easier time because she was the baby of the family.
Persons: Drew Gilpin, Ruth J, Simmons, , Smith, Drew Gilpin Faust, She’s, , Read, , ” Simmons Organizations: Seven, Brown University, Ivy League, M University, Harvard University, American Locations: Texas, East Texas
Interest payable on UK central government debt hoovered up £7.7 billion ($9.8 billion) last month alone, hitting a record for July, the Office for National Statistics said Tuesday. That’s double the share in Italy, whose dependence on inflation-linked debt comes second only to that of the UK among advanced economies, according to Fitch Ratings. According to Fitch, Britain now spends more to service its debt than any other developed economy, as a percentage of government revenue. In a statement Tuesday, Hunt said: “As inflation slows, it’s vital that we don’t alter our course and continue to act responsibly with the public finances. Only by sticking to our plan will we halve inflation, grow the economy and reduce debt.”
Persons: That’s, , Ellie Henderson, Fitch, ” Ruth Gregory, Jeremy Hunt “, Gregory, Hunt Organizations: London CNN, National Statistics, United, Fitch, , Investec, AAA, Capital Economics, CNN, Conservative Locations: Ukraine, United States, Italy, Fitch, Britain, London
Jeff Kowalsky | Bloomberg | Getty ImagesA string of Google executives have changed their roles in the span of several months, in a shift that has sidelined many of company's remaining old guard. The changes encompass high-profile executives such as CFO Ruth Porat, YouTube CEO Susan Wojcicki, and employee No. Some say they have left their roles for a new challenge and others have left to seek opportunities in AI. While she'll still be in an advisory role at Google, she said, she wanted to "start a new chapter." Google's AI head, Jeff Dean, who's been at Google since 1999, became a chief scientist as part of the change.
Persons: Ruth Porat, Jeff Kowalsky, Susan Wojcicki, Urs Hölzle, Susan Wojcicki —, Sergey Brin, Larry Page, she'll, Robert Kyncl, David Lawee, Hölzle, Morgan Stanley, Porat, Courtenay Mencini, who've, it's, OpenAI, Sundar Pichai, Google execs, Prabhakar Raghavan, HJ Kim, Geoffrey Hinton, Demis, James Manyika, Jeff Dean, who's, It's Organizations: Inc, Michigan Central Station, Bloomberg, Getty, Google, YouTube, Warner Music Group, CapitalG, CNBC, New York Times, McKinsey, Google Research Locations: Detroit , Michigan, Silicon Valley
Why Republicans say the U.S. is in danger of failingRepublican fatalists, much like Republican voters overall, overwhelmingly support Donald J. Trump. This group is largely older — two-thirds of Republicans over 65 say the country is on the verge of failure — and less educated. They are also more likely than Republican voters overall to get their news from non-Fox conservative media sources like Newsmax or The Epoch Times. Many of these gloomy Republican see the Biden administration’s policies as pushing the country to the verge of collapse. “The first day Biden became president he ripped up everything good that happened with Trump; he opened the border — let everyone and anyone in.
Persons: fatalists, Donald J, , Margo Creamer, , Biden, Trump, It’s, we’re Organizations: Republican, Trump, Fox, Epoch Times, Biden, Republicans Locations: Southern California
Google said in May that, starting in December, it would begin purging inactive accounts, a warning sign of sorts to people who use multiple logins. "I'm of the mind that email subject lines should be explicitly clear, especially if a consequence is attached to a customer's inaction," she wrote. Users commonly maintain multiple accounts, allowing them to use different email addresses for different purposes, and to store online photos and documents in separate places. But for Google, storage space on free accounts is a cost. The new policy doesn't apply to schools or businesses using Google accounts.
Persons: Ruth Porat, Sabrina Meherally, Meherally, aren't Organizations: Economic, Google, LinkedIn, Twitter Locations: Davos, Switzerland
Official data showed sales volumes last month were 1.2% lower than in June. Food stores sales volumes fell by a monthly 2.6% while non-food stores sales volumes fell by 1.7%. However, July's data represented only the second time that sales volumes fell on a month-to-month basis so far in 2023, suggesting resilience in consumer demand. Market research firm GfK reported last month that consumer confidence fell in July for the first time since January. Retail sales volumes were 3.2% lower than a year earlier, the ONS said, compared with economists' forecasts for a 2.1% decline.
Persons: Sterling, Heather Bovill, Ruth Gregory, GfK, Samuel Tombs, BoE, Tombs, Spencer, James Davey, Kate Holton, Susan Fenton Organizations: Reuters, Office, National Statistics, Department, Bank of England, Capital Economics, Macroeconomics, Thomson
is the nation’s largest Protestant denomination and serves as a bellwether for priorities among American evangelicals. The executive committee, which has more than 80 members, conducts business for the denomination between its annual meetings. His ascension even as an interim leader was touted as a historic milestone for the 178-year-old denomination, which was founded as a defender of slavery. Mr. McLaurin is the committee’s third leader in a row to step down in tumultuous circumstances. At a meeting in Dallas this spring, the executive committee rejected its own search committee’s recommendation for the next leader, assembling a new search committee whose work is ongoing.
Persons: McLaurin, Ronnie Floyd, Frank Page, , “ It’s, Lord Jesus Christ, McLaurin’s, Robertson, committee’s Organizations: Southern Locations: Dallas, Nashville
The ONS said falling gas and electricity prices were the biggest driver behind the drop in inflation, while food price inflation also eased. Despite the drop in the headline figure, Britain retains one of the highest rates of price growth in Western Europe, with only Iceland and Austria suffering higher inflation. The BoE is watching core inflation - which strips out volatile food and energy prices - and consumer services prices closely. Services inflation picked up to 7.4% from 7.2% in June. Financial markets on Wednesday showed a roughly two-thirds chance that the BoE's Bank Rate will hit 6% in February, up from 5.25% now.
Persons: Phil Noble, BoE, Sterling, Ruth Gregory, Jeremy Hunt, Andy Bruce, William Schomberg Organizations: REUTERS, Bank of, National Statistics, U.S, ONS, Bank, Capital Economics, Financial, Manufacturers, Thomson Locations: Altrincham, Britain, Bank of England, Western Europe, Iceland, Austria, BoE's
CFOs are stepping into a rapidly revolving door
  + stars: | 2023-08-14 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
NEW YORK, Aug 14 (Reuters Breakingviews) - Chief financial officers are stepping into an increasingly rapidly revolving door. loadingIn the first half of this year, 103 of the top 1,000 companies ranked by Fortune lost their CFO, according to executive search firm Heidrick & Struggles. CFOs are grappling with rising inflation and interest rates – in some cases, for the first time in their careers. High CFO turnover looks far from transitory. Follow @jennifersaba on TwitterCONTEXT NEWSTesla said on Aug. 7 that its Chief Financial Officer Zachary Kirkhorn was stepping down.
Persons: Elon Musk, Zachary Kirkhorn, Francois, Xavier Roger, Anna Manz, Fortune, Refinitiv, Ruth Porat, Morgan Stanley, Mike Cavanagh, NBCUniversal, Mike Lenz, Unilever’s, Graeme Pitkethly, Walt Disney’s, Christine McCarthy, James Kehoe, Crist Kolder, Tesla, Vaibhav Taneja, Kirkhorn, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, Finance, Walgreens Boots Alliance, London Stock Exchange, Reuters Graphics Reuters, Comcast, Walgreens, CFOs, Thomson Locations: Swiss
In "Barbie," Allan appears as a kind but lonely man who just wants to hang out with the Kens and Barbies. But in Mattel lore, Allan was actually married to Midge and had two children with the doll, despite him not interacting with her in the movie. A few months later, in early 1964, the toy company began producing a red-haired boyfriend for Midge, Allan Sherwood, named for Handler's son-in-law. "Allan shares wonderful adventures with Barbie and her friends," including going on double dates as Midge's partner with Barbie and Ken, a advert from 1964 proclaimed. Allan was the same size as Ken, meaning that he could share his clothes, as was the case with Barbie and Midge.
Persons: Barbie, Allan, Midge, Greta Gerwig's, Allan Sherwood, Handler's, Ken, Allan's, Michael Cera, bendable, Brad, Ruth Handler, Alan, Mattel, Ryan, Nikki –, nathanmychael Organizations: Service, Mattel, Families, Walmart Locations: Wall, Silicon, Gerwig's
Early on March 18, former President Donald J. Trump hit send on a social media post saying he would be “arrested on Tuesday of next week.”“Protest,” he wrote on his Truth Social website. “Take our nation back!”Mr. Trump’s prediction was based on media reports, according to his lawyers, and his timing was off by two weeks. Yet the statement set in motion events that profoundly altered the course of the Republican nominating contest. The party apparatus rushed to defend Mr. Trump. These series of falling dominoes — call it the indictment effect — can be measured in ways that reveal much about the state of the Republican Party.
Persons: Donald J, Trump, , Donors Organizations: Republican, Fox News, Mr, Republican Party, New York Times
Official data on Friday showed the economy grew 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists. The strong showing bolstered bets that the BoE would keep on raising interest rates, given the central bank stressed this month that resilience in the economy was one of the factors that would underpin its judgement. The central bank itself had pencilled in growth of 0.1% for the second quarter. "With much of the drag from higher interest rates still to come, we are sticking to our below-consensus forecast that the UK is heading for a mild recession later this year," said economist Ruth Gregory from consultancy Capital Economics. Reporting by Andy Bruce and David Milliken; editing by William James, Kate Holton and Christina FincherOur Standards: The Thomson Reuters Trust Principles.
Persons: Sterling, BoE, Neil Birrell, Jeremy Hunt, Ruth Gregory, Andy Bruce, David Milliken, William James, Kate Holton, Christina Fincher Organizations: Bank of England, U.S ., Reuters, Bank of, Miton, National Statistics, Manufacturing, Reuters Graphics, Capital Economics, Thomson Locations: Bank of England, Britain, Germany, France, Italy, United States
LONDON — The U.K. economy beat expectations with 0.2% growth in the second quarter, boosted by household consumption and manufacturing output, the Office for National Statistics said Friday. The economy expanded by 0.5% in June, beating a forecast of 0.2% growth. It follows monthly GDP growth of 0.1% in May and 0.2% in April. Output was bolstered by 1.6% growth in manufacturing and 0.7% in production in the second quarter, while services grew by 0.1%. In its most recent monetary policy report, it said it expects quarterly GDP growth to remain around 0.2% in the near term.
Persons: eking, King Charles III, Mike Coop, CNBC's, Coop, Jeremy Hunt, BoE, Ruth Gregory Organizations: National Statistics, Reuters, Bank of, ONS, Morningstar, Bank of England, of England, IMF, Finance, Capital Economics Locations: Germany, France, Italy
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Persons: Dow Jones, 78cb5842 Locations: oxford
It’s Not Whether You Can Afford a Home on Lake Como—It’s Whether You Can Find One The market for waterfront homes remains tight along the famous lake in Northern Italy, but deals are to be had depending on where and how close you can get
Organizations: Como Locations: Northern Italy
PinnedThe massacre of 11 worshipers at a Pittsburgh synagogue in 2018 is considered the deadliest antisemitic attack in U.S. history. “Finally, justice has been served,” said Leigh Stein, whose father, Dan Stein, was killed in the attack. Image Relatives of the victims of the Pittsburgh synagogue mass shooting spoke on Wednesday after jurors recommended that the gunman be sentenced to death. The defense called no witnesses in that part of the trial, as there was never any dispute that Mr. Bowers had carried out the attack. The police rushed to the synagogue and, after exchanging gunfire with Mr. Bowers, eventually cornered him in a classroom.
Persons: Robert Bowers, , , Leigh Stein, Dan Stein, Biden, ” Merrick, Garland, Robert Colville, Justin Merriman, Howard Fienberg, Joyce Fienberg, we’ve, ” Weeks, Bowers, Dor Hadash —, Cecil, David Rosenthal, Fienberg, Irving Younger, Sylvan Simon, Simon’s, Bernice, Rose Mallinger, Jerry Rabinowitz, Dor Hadash, Richard Gottfried, Stein, Melvin Wax, Judy Clarke, Satan, Ms, Clarke, ” Eric Olshan, “ It’s, that’s, Doris Dyen, Jon Moss Organizations: , Justice Department, The New York Times, Jewish Community Center of Greater, ., New, Prosecutors, Western, Western District of Locations: Pittsburgh, U.S, Jewish Community Center of Greater Pittsburgh, Western District, Western District of Pennsylvania
Mattel's Midge doll may have failed in the 1960s because she was "less glamorous" than Barbie, Ruth Handler once said. A pregnant version of the doll, referenced in Greta Gerwig's movie, was pulled from Walmart in 2002. A TV advert said that Barbie, Midge, and Ken "go everywhere together," including sunbathing on the beach, playing tennis, and attending school. Mattel released a pregnant version of Midge in 2002. Walmart pulled the sets, with a spokesperson telling CNN at the time that customers "were not happy" with the pregnant doll.
Persons: Midge, Barbie, Ruth Handler, Handler, Greta Gerwig's, Emerald Fennell, Ken, Allan, Michael Cera, didn't, Barbie's, Alan, Mattel, Lawrence Lucier, Ryan –, Ryan, Organizations: Walmart, Service, Mattel, PJ, University of Southern, CNN Locations: Wall, Silicon, University of Southern California
Mr. Smith is not the first special counsel to investigate Mr. Trump. Mr. Smith, by contrast, faces no such limits given that Mr. Trump is no longer in office. Mr. Mueller said little when faced with a barrage of falsehoods pushed publicly by Mr. Trump and his allies about him and his investigative team. During Mr. Trump’s arraignment in Miami in June, Mr. Smith sat in the gallery, closely watching the proceedings. Some in the courtroom suggested he stared at Mr. Trump for much of the hearing, sizing him up.
Persons: General Merrick B, Garland, Jack Smith’s, Donald J, Trump, Smith, Maddie McGarvey, The New York Times “, , Ryan Goodman, Trump’s, Robert S, Mueller, Smith —, , Goodman, Smith “, Edgar Hoover, Mueller III, Anna Moneymaker, Ted Stevens, , Robert McDonnell, Rick Renzi, James, Smith’s, Jay I, Bratt, Cooney, Robert Menendez, Greg Craig, Obama, Andrew G, McCabe, Roger J, Stone Jr, William P, Barr, Aaron Zelinsky, Thomas P, Windom, Peter Dejong Mr, John H ., Carlos F, legwork, sotto, intently, Alan Feuer Organizations: White, The New York Times, New York University School of Law, Capitol, Washington, Department, Just Security, Trump, U.S, New York Times, Justice Department, Justice, Republican, Supreme, Mr, Department of Justice, Democrats, Robert Menendez of New, Hague, Credit, House Republicans, U.S . Postal Inspection Service Locations: Washington, The Hague, Russia, Alaska, Virginia, Arizona, Robert Menendez of, Robert Menendez of New Jersey, U.S, Netherlands, John H . Durham, , Miami
So far, however, having reservations about Mr. Trump’s alleged wrongdoing does not appear to be leading Republican voters to reconsider their support for him. Views of Mr. Trump have long been remarkably stable, and the public’s views of his potential criminality are no exception. About half of all voters say they think he has committed serious federal crimes, nearly identical to the share that held that view last year. Much like the overall public, Democrats have held firm in their views on Mr. Trump: Nearly 90 percent of Democrats consistently say they think Mr. Trump has committed serious federal crimes. To be sure, nearly 75 percent of Republicans still say Mr. Trump did not commit any serious federal crimes.
Persons: Trump’s, Trump Organizations: Republican, Times, Democrats Locations: Manhattan, Siena, Iowa
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