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☆ Wall Street titans including David Rosenberg and Rob Arnott sound off on AI: What they told us about the disruptive technology — from how it will lead to 'permanent displacement' of jobs, to why it's
▼ + stars: | 2023-06-28 | by ( William Edwards | ) www.businessinsider.com time to read: +11 min

AI's impact on the job marketRob Arnott"Every important disruption since the start of the industrial revolution has cost millions of people jobs. Millions of jobs will be lost to those who know how to use AI. "The implications of generative AI on the labor market will be one of upheaval and one of escalating job uncertainty. Are AI stocks in a bubble? Rosenberg"Advancements in AI technology, and its knock-on effects on profitability and productivity, is a legitimate investment thesis.

Persons: David Rosenberg, Rob Arnott, Savita Subramanian, Cam Harvey, Jawad Mian, Jobs, Merrill Lynch, aren't, Rosenberg, Harvey, Arnott, Brad Cornell, Aswath, There's, that's, Savita, –, capex, Mian Organizations: Industries, Investors, Research, Rosenberg Research, North, Bank of America Securities, Duke University, Microsoft, Nvidia, Google, Tech, Software, Services, Professional Services, IT Services Locations: North American, ChatGPT, Asia, Taiwan

☆ Report on Epstein’s Death Finds Errors and Mismanagement at Manhattan Jail
▼ + stars: | 2023-06-27 | by ( Glenn Thrush | Benjamin Weiser | ) www.nytimes.com time to read: +1 min

What they did find was a remarkable, and largely unexplained, succession of circumstances that made it easy for Mr. Epstein to kill himself. For reasons that remain unclear, the jail’s staff members allowed Mr. Epstein to hoard extra blankets, linens, bedding and clothing, despite the fact that he had tried to hang himself earlier. The inspector general’s report comes nearly four years after Mr. Epstein, 66, was found dead in his cell with a bedsheet tied around his neck. Mr. Epstein had been awaiting trial on federal sex trafficking and conspiracy charges, and if convicted, would have faced up to 45 years in prison. Two days after Mr. Epstein’s death, Attorney General William P. Barr said that there had been “serious irregularities” at the jail.

Persons: Epstein, —, Epstein’s, William P, Barr, ” Organizations: of Prisons, Wall Street titans

☆ 10 Things in Tech: Airbnb's Montana smackdown, Microsoft whining, Salesforce worrying, and Reddit rage
▼ + stars: | 2023-06-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

I'm Insider's global tech editor Alistair Barr, and I've been missing people a lot lately. Airbnb Montana smackdown: Life in the town of Bozeman is harder thanks to short-term rentals. That sparked a boom in Airbnb and Vrbo properties in the town, causing rents and property prices to surge. They are concerned about retaining talented colleagues, their future at Salesforce, and how leadership decisions adhere to the company's core values. Submit your nomination for Insider's 5th annual list recognizing first-time and newly named top marketers at consumer brands.

Persons: Alistair Barr, I've, I'd, we're, let's, Brian Chesky Mike Segar, Airbnb Montana, Dan Latu, Justin Sullivan, Read, Nassim Taleb, SoftBank, it's, that's, Bowties, India Narendra Modi, Mark Zuckerberg, Elon Musk, Kevin Dietsch, Dana White, Lisa Ryan, Jack Sommers Organizations: Bozeman Tenants United, Getty, Microsoft, Silicon Valley titans, White House, UFC, Insider's Locations: Bozeman, Airbnb, Seattle, Washington, Salesforce, Silicon, India, China, Silicon Valley, New York, London

☆ Sam Altman says he'd go watch Elon Musk cage fight Mark Zuckerberg
▼ + stars: | 2023-06-23 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Elon Musk and Mark Zuckerberg have taken digs at each other before. Now the two tech CEOs have seemingly agreed to a cage fight. OpenAI CEO Sam Altman told Bloomberg he "would go watch" if the two actually fight. "I would go watch if he and Zuck actually did that," OpenAI CEO Sam Altman told Bloomberg's Emily Chang on Thursday, though he said he doesn't think he would ever take Musk on in a physical fight. "He really cares about AI safety a lot," Altman told Bloomberg of Musk.

Persons: Elon Musk, Mark Zuckerberg, Sam Altman, Musk, Zuckerberg, Zuckerberg —, —, Zuck, Emily Chang, Altman, OpenAI, didn't Organizations: Bloomberg, Morning, Tech, Twitter, city's Apex, UFC, Musk

☆ UFC president Dana White said he talked to Elon Musk and Mark Zuckerberg on the phone for 1.5 hours — and that both are 'dead serious' about fighting
▼ + stars: | 2023-06-23 | by ( Will Gendron | ) www.businessinsider.com time to read: +2 min

UFC president Dana White says he spoke to both men and that they're "dead serious" about fighting. "Probably spent an hour and a half on the phone with both of them last night," UFC president Dana White told TMZ. White told TMZ that Zuckerberg was the first of the tech titans to reach out, asking if Musk "was serious." White claims he relayed the question to Musk, who said he was "dead serious." Representatives for the UFC, Zuckerberg and Musk did not immediately respond to Insider's request for comment.

Persons: Elon Musk, Mark Zuckerberg, Dana White, Musk, Zuckerberg, White, I've Organizations: Elon, UFC, TMZ, titans, Representatives Locations: South Africa

☆ JPMorgan Chase's drawn-out breakup with Jeffrey Epstein
▼ + stars: | 2023-06-23 | by ( Kaja Whitehouse | Emmalyse Brownstein | ) www.businessinsider.com time to read: +29 min

Several months later, in October 2006, JPMorgan categorized Epstein as a "high-risk" client, according to a transcript of Dimon's deposition in May. Today, banks have entire departments dedicated to tracking client activity and flagging suspicious behavior. Lots of questions'The fuss JPMorgan compliance officers raised about Epstein in 2011 was extensive. A 'faithless servant'One person who might know much more about the tangled relationship between Epstein and JPMorgan is Jes Staley. Staley sent Epstein internal JPMorgan documents and relied on him for guidance on an array of business and personal dealings, the JPMorgan internal report shows.

Persons: —, Morgan Stanley, Lehman Brothers —, Jamie Dimon, Jeffrey Epstein, Leon Black, Bill Clinton, Donald Trump, Epstein, Jes Staley, Staley, Jeffrey Epstein's, Michelle Licata, Courtney Wild, Stephanie Keith, Jane Doe, JP Morgan —, Epstein —, jes staley, Patricia Wexler, Wexler, Dimon, Barry Krischer, JPMorgan, Ghislaine Maxwell, Rod Stewart, Cipriani, Joe Schildhorn, Patrick McMullan, Frank Haberstroh, Haberstroh, Les Wexner, Wexner, Tom Williams, JP Morgan, Little, Little Saint James, Epstein's, Jim Spellman, Staley didn't, Morgan, James, Emily Michot, Bill Gates, Larry Summers, Woody Allen, Stephen Cutler, Cutler, Mary Erdoes, Erdoes, Youngbee Dale, Dale, JPMorgan Chase, Michael M, NYDFS, Bernie Madoff, Cecile de Jongh, Joe Shmoe, Jacob Shamsian Organizations: JPMorgan, Highbridge Capital Management, Citigroup, Lehman Brothers, titans, Apollo, US, US Virgin Islands, Bloomberg TV, Financial, US Department of, Treasury, Getty, BSA, Polaris Market Research, United Nations University Centre, M2C Model, Palm, JPMorgan Chase, Washington D.C, Inc, Apollo Global Management, The New York Times, Little Saint, Virgin, U.S ., Miami Herald, Tribune, Service, Microsoft, Columbia University, Mountain Capital, DOJ, New, Deutsche Bank, New York Department of Financial Services, Virgin Islands, Barclays, Authority, Wall Street Journal Locations: York, Manhattan, New York, US Virgin, dimon, Palm Beach , Florida, New York City, UN, Paris, Washington, Prague, thomas, Wexner, Little Saint, I'm, Little St, U.S, U.S . Virgin Islands, Staley, Dimon's, Virgin, British

☆ 'Lots of smoke. Lots of questions': Internal emails show JPMorgan Chase execs worried about the bank's ties to Jeffrey Epstein. So why did it take so long to cut him loose?
▼ + stars: | 2023-06-23 | by ( Kaja Whitehouse | Emmalyse Brownstein | ) www.businessinsider.com time to read: +29 min

That, of course, is the billion-dollar question: What did JPMorgan, America's largest bank, know about Epstein's alleged sex trafficking? Today, banks have entire departments dedicated to tracking client activity and flagging suspicious behavior. Lots of questions'The fuss JPMorgan compliance officers raised about Epstein in 2011 was extensive. Lots of questions," declared a senior JPMorgan compliance officer reviewing Epstein's accounts as part of that 2011 compliance review, according to court papers filed by the US Virgin Islands. Staley sent Epstein internal JPMorgan documents and relied on him for guidance on an array of business and personal dealings, the JPMorgan internal report shows.

☆ Bed Bath & Beyond poised to join the list of 'zombie brands' like Radio Shack and Toys R Us
▼ + stars: | 2023-06-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond has reached a deal to sell its primary brand assets to Overstock for $21.5 million. The agreement covers trademarks, business data, and e-commerce sites, but not stores or inventory. The sale will make the former housewares giant the latest retail "zombie brand." A shuttered Bed Bath & Beyond store in suburban Detroit. The survival of Bed Bath & Beyond on paper and online will make it the latest retail "zombie brand" — a list that includes former industry titans like Radio Shack, Lord & Taylor, and Toys R Us, whose new owners aim to cash in on the label's established credibility with customers.

Persons: —, Overstock.com, Leslie J, Allen, Taylor Organizations: Service, Bed, titans, Radio, New York Times, & $ Locations: New Jersey, Detroit

☆ BlackRock announces fresh layoffs impacting less than 1% of staff - memo
▼ + stars: | 2023-06-22 | by ( Anirudh Saligrama | ) www.reuters.com time to read: +1 min

June 22 (Reuters) - BlackRock (BLK.N) has announced layoffs that would impact less than 1% of its workforce as a result of budget reallocations to support critical priorities, according to a memo seen by Reuters on Thursday. The company's new round of job cuts followed a recent business review process, Chief Operating Officer Rob Goldstein and Global Head of Human Resources Caroline Heller said in a memo to staff. The departments impacted were not known immediately, but the asset manager's headcount will be higher at the end of 2023 than at the beginning of the year despite the job cuts, the memo said. On Wednesday, JPMorgan Chase cut around 20 investment banking jobs in Asia in a fresh round of layoffs, Reuters had reported, citing a source with direct knowledge of the matter. Reporting by Anirudh Saligrama in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Rob Goldstein, Caroline Heller, Anirudh, Devika Organizations: Reuters, BlackRock, Wall Street titans, Global, Human, Wednesday, JPMorgan Chase, Thomson Locations: BlackRock, Asia, Bengaluru

☆ Chris Christie lures big donors as he takes on Trump, while billionaire ally Cohen sits out
▼ + stars: | 2023-06-20 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

A person close to Cohen told CNBC that Cohen has yet to donate to either Christie's campaign or the allied super PAC called Tell It Like It Is. Cohen has no immediate plans to help Christie or get involved with the GOP primary at large, but his intentions could always change, this person added. Wall Street executive and former Trump communications director Anthony Scaramucci previously told Semafor he expected Cohen to support Christie. Colin Reed, a spokesman for the Christie super PAC, would not say who has donated to the group so far and only described the funding support as "overwhelming." The data also shows that Cohen later contributed $1 million toward Trump's inaugural celebration — at a time when Christie also publicly supported Trump.

Persons: Chris Christie, Donald Trump, Christie, Steve Cohen, Cohen, Anthony Scaramucci, Semafor, Scaramucci, CNBC's, Jeb Bush, Marco Rubio, Colin Reed, Reed, Joe Biden, Steve Schwarzman, Andy Sabin, Trump, Alexandra, Christie's Organizations: New, New Jersey Gov, GOP, Republican, Mets, CNBC, Wall Street, Trump, Christie, Gov, Republican Party, Blackstone, America Locations: New Jersey, Wall

Lockheed and Airbus will tout their LMXT tanker at the Paris Airshow this week, bringing U.S. reporters onboard the A330 Multi Role Tanker Transport on which the new plane is based. In 2011, Boeing won the first of a three-phase procurement to replace the Air Force's aging tanker fleet, securing a contract for 179 KC-46s. But Larry Gallogly, Lockheed’s director of LMXT business development, said Lockheed and Airbus "are most definitely still in this competition." Lockheed and Airbus sought a program of at least 120 aircraft, but “the business case can certainly close below that,” Gallogly said. Boeing Defense CEO Ted Colbert said the KC-46 "has proven to be highly capable" and is ready for the threats of the 2030s.

Persons: Lockheed Martin, Larry Gallogly, ” Gallogly, Ted Colbert, Jerry Carl, Carl, Valerie Insinna, Tim Hepher, Mark Potter Organizations: Pentagon, Aerospace titans Airbus, Boeing, Airbus, Lockheed, U.S, U.S . Air Force, Air, KC, Capitol, Air Force, General, Armed Services, Alabama Republican, Thomson Locations: WASHINGTON, PARIS, U.S, United States, Alabama, Georgia, American

☆ Whatever Happened to ‘Free’ News? - The New York Times
▼ + stars: | 2023-06-13 | by ( Lydia Polgreen | ) www.nytimes.com time to read: +3 min

Then Donald Trump won the presidential election, and I felt that maybe in that moment there was work to do elsewhere. With its clever, large-format headlines and populist sensibility, HuffPost had the feel of a left-of-center tabloid, like The New York Daily News in its heyday. In a way, this plan represented a very old model of paying for quality journalism, one that began in 1833, when a young businessman named Benjamin Day had an idea. The handsome profits they reaped enabled investments in high-quality journalism, including high-risk and expensive endeavors such as investigative reporting and international coverage. Local news cratered, and even titans like The New York Times faced existential threats.

Persons: Donald Trump, HuffPost, Benjamin Day, Tim Wu Organizations: The New York Daily News, Corporate America, The New York Sun, The New York Times Locations: New York, United States

☆ Andreessen Horowitz to open first office outside the U.S. in London in bet UK will become crypto hub
▼ + stars: | 2023-06-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

LONDON — Andreessen Horowitz is opening its first office outside of the U.S. in London, the venture capital firm announced Monday. Sriram Krishnan, an ex-Twitter employee who joined Andreessen Horowitz as a general partner, will relocate to London to head up the firm's office there, Quintenz said. Andreessen Horowitz also plans to launch its first crypto startup school in the U.K. in a bid to identify future talent in the crypto and Web3 space. Andreessen Horowitz has been one of the most active investors in crypto and Web3, backing startups ranging from the crypto-based sports collectibles trading game Dapper Labs to nonfungible token marketplace OpenSea. Andreessen Horowitz was not an investor, but several rival firms, including Sequoia, were.

Persons: Coinbase, Andreessen Horowitz, Brian Quintenz, Sriram Krishnan, Quintenz, ‘ Organizations: U.S, U.S . Securities, Exchange Commission, SEC, CNBC, Twitter Locations: Silicon, Airbnb, Coinbase, London, U.S, United States, FTX, Sequoia

☆ A top-1% fund manager over the past 3 years shares how he's consistently outperformed throughout wildly different markets — and 8 of his favorite places to invest right now
▼ + stars: | 2023-06-09 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are eight companies or areas of the market that Muhlenkamp said he's bullish on. Regardless of what's happened in the economy or markets, the veteran investor's namesake Muhlenkamp Fund (MUHLX) has found a way to dominate. Although energy stocks have since reversed to become the worst-performing sector of 2023, Muhlenkamp said he's stuck with the group while riding the broad rebound in technology stocks. Two other tech companies Muhlenkamp mentioned are semiconductor firms Broadcom (AVGO) and Microchip (MCHP). Outside of technology, Muhlenkamp said he continues to like stocks tied to housing and financials, including certain regional banks.

Persons: Jeff Muhlenkamp, Muhlenkamp, he's, I'd, Morningstar, Goldman Sachs, they've, they're, He's Organizations: Muhlenkamp, Apple, Microsoft, Apple Watch, Vision, Broadcom, Bank, Federal Locations: Regional

☆ Who wants to be a CEO right now?
▼ + stars: | 2023-06-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Let's be real: Being a CEO sucks right now. But 2023 has brought a level of scrutiny that makes being a CEO today a nightmare for even the toughest leader. CNN's former chief Chris Licht stepped down on Wednesday after less than a year, following intense criticism from inside and outside his newsroom. Meme stock company GameStop fired its CEO Matthew Furlong on the same day as Licht, also after a short tenure. At the low point of a boom-and-bust cycle where high interest rates and high expectations reign supreme, being a CEO sucks.

Persons: Let's, CNN's Chris Licht, —, Jack Welch, CNN's, Chris Licht, Licht, Matthew Furlong, Jeff Shell, Jack Bowles, Patience, Matt Turner, Raul Vargas Organizations: Corporate, Service, General Electric, Observers, GameStop, Google, Farmers Group Locations: freefall, British

☆ 'Jurassic Park' still has bite at 30, and here's why
▼ + stars: | 2023-06-09 | by ( Dan Heching | ) edition.cnn.com time to read: +4 min

CNN —It’s been 30 years since Steven Spielberg’s dinosaurs stampeded across the screen in the first “Jurassic Park,” but it feels more recent. Admittedly, I was the exact target audience for this creature feature, and even though I was already somewhat of a self-taught critic (note the aforementioned mouthiness), I was awed by what I saw that summer three decades ago, and my impressions of “Jurassic Park” remain to this day. Joseph Mazzello in "Jurassic Park." Laura Dern, Sam Neill and Joseph Mazzello in "Jurassic Park." Add to that the amazing and meme-worthy smaller performances from Samuel L. Jackson (“Hold onto your butts!”), Wayne Knight (“Ah ah ah!

Persons: CNN — It’s, Steven Spielberg’s, Rex, Martin Ferrero, ”, Joseph Mazzello, dino, Kong ”, Ian Malcolm, Jeff Goldblum, Michael Crichton’s, Spielberg, John Williams, Laura Dern, Sam Neill, Goldblum, there’s Laura Dern, Sigourney Weaver, Sam Neill –, Samuel L, Jackson, Wayne Knight, Bob Peck, “, you’ve Organizations: CNN, Titans, Marvel

"The first set and the second set were really, really intense and I started to cramp in my arm. Djokovic will play in his 34th Grand Slam final, his seventh at Roland Garros where he has lifted the Musketeers' Cup twice, in 2016 and 2021. With Mike Tyson watching from the stands, both players traded punches and Djokovic was on the ropes in the second set, with Alcaraz playing several spectacular shots. "Towards the end of the second set he was the better player. He's going for Grand Slam number 23 and I'm going for my first, so there's a big difference."

Persons: Novak Djokovic, Carlos Alcaraz, Casper Ruud, Alexander Zverev, Alcaraz, Djokovic, It's, Roland Garros, Carlos, ", Mike Tyson, RUUD ROLLS, Ruud, Rafa Nadal, Novak, Julien Pretot, Shrivathsa Sridhar, Christian Radnedge Organizations: Djokovic, U.S, cramp, Musketeers, Thomson Locations: Paris

☆ The 'mother of all melt-ups' in stocks could be quickly followed by a meltdown as the bubble in overvalued names pops, Ed Yardeni says
▼ + stars: | 2023-06-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks could face a meltdown as the bubble in firms riding the AI excitement pops, Ed Yardeni said. The current bull market in stocks is unusual, as they typically begin when valuations for firms are low, he said. But if stocks rise too quickly, it could spell trouble for the market as the bubble in overvalued names pops. That ratio is now around 18, largely due to the success of the eight mega-cap firms. High rates also risk tipping the economy into recession, experts warn, which is also likely to weigh on stocks.

Persons: Ed Yardeni, meltdowns, —, Yardeni Organizations: Service, Fox Business, Yardeni, Nvidia, Microsoft, & $

☆ How to land a job with Blackstone, Apollo, KRR, and other private equity titans
▼ + stars: | 2023-06-06 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +6 min

Private equity is often seen as the Holy Grail of finance jobs — but breaking in can be challenging. We also have data on private equity pay and the industry's top recruiters. Here is what we found about pay at private equity firms, including Blackstone, Apollo, and Bain Capital. Private equity recruiting has been starting earlier than ever Getty ImagesPrivate equity firms like to recruit young talent from investment banks. These days, the private equity recruiting process has started earlier than ever, resulting in middle-of-the-night interviews with offers being made — and blown up — all before Labor Day.

Persons: —, bymuratdeniz, Blackstone, Samantha Lee, Drew Angerer, Skye Gould, Jon Gray, Grace Koo, Read, Carlyle, Alex Crisses, Thoma Bravo, Warburg Pincus, Wharton's, Axel Springer Organizations: Blackstone, KKR, Service, Apax Partners, Oaktree, of Foreign Labor, Apollo, Bain Capital, Labor, General Atlantic, PJT Partners, Partners, dealmakers, Wall, University of Michigan Locations: Carlyle, Blackstone, Axel

☆ Why AI wasn't mentioned at all during Apple's big WWDC presentation
▼ + stars: | 2023-06-06 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Apple execs didn't mention AI once during the company's WWDC keynote. It was a deliberate choice and a stark contrast to other Big Tech companies that have embraced the term. During Microsoft, Meta, Alphabet, and Amazon's first quarter earnings calls in April, AI was cumulatively mentioned 168 times, for example. Most other Big Tech companies would likely tout these as "AI innovations" to appeal to the current enthusiasm around the term. The word wasn't mentioned one time during the entire keynote, even though many rivals would likely use the word to describe the Vision Pro headset.

Persons: —, Tim Cook, Apple execs, Amazon's, Cook, Apple, There's, Siri Organizations: Apple, Big Tech, Morning, Microsoft, Google Locations: Valley, Dutch

☆ Everyone is getting less productive, and that's a big problem for the economy
▼ + stars: | 2023-06-06 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +5 min

Even though the economy feels largely fine right now, such a decline has been a leading indicator of past recessions. Labor productivity has fallen for five straight quarters on a year-over-year basis, the longest such streak on record. Productivity is important to the economy because it's the primary input for a population's standard of living. As Insider reported in March, major retailers like Walmart, Target, and Kroger are locked in a labor-hoarding war over hourly employees that's pushed pay higher. In the meantime, the decline in productivity is setting off alarm bells for the economy.

Persons: —, Taylor Swift, they're, Larry Summers, Summers, Mark Zuckerberg, Marc Benioff, OpenAI's, there's, It's, Paul Tudor Jones, Ed Yardeni, Goldman Sachs Organizations: Service, Airlines, Bureau of Labor Statistics, Labor, Washington Post, Walmart, Target, Kroger, Stanford, MIT, Fortune, Brookings Institute

☆ The Many Cameos of Stan Lee
▼ + stars: | 2023-06-03 | by ( George Gene Gustines | ) www.nytimes.com time to read: +2 min

Distinguished CompetitionMr. Lee and Marvel are irrevocably linked, but he was no stranger to working with superhero industry rivals DC Comics. From 2001 to 2002, DC released a “Just Imagine” series of stories written by Mr. Lee in which he reinterpreted Superman, Batman, Wonder Woman and other heroes. A cartoon version of Mr. Lee also appeared in DC’s 2018 animated film “Teen Titans Go! In one story, Mr. Lee playfully admonishes the team for recent developments, including “Alcoholic Iron Men!” and the mohawk haircut for the X-Men’s Storm. But the original, unused photo was bolder: It was a nude picture of him with a strategically placed comic book.

Persons: Lee, ”, “ Stan Lee ”, “, Brad Meltzer, Lee’s, Eliot R, Brown, “ I’m Organizations: Marvel, DC Comics, DC, Marvel Comics, Entertainment, Hero Initiative

☆ C919: Why China's answer to Boeing and Airbus isn't as 'homegrown' as it seems
▼ + stars: | 2023-06-02 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China is claiming a historic win this week after its answer to Boeing and Airbus, the C919, took to the skies for its first commercial flight. But instead of boosting China’s global stature in technology innovation, experts say the C919 is a symbol of its continued reliance on the West. COMAC’s first commercial plane, by comparison, is a much smaller regional jet called the ARJ21, which can only fly up to 3,700 kilometers (2,300 miles) and accommodate up to 97 passengers. Technicians working on a COMAC C919 aircraft under assembly at the COMAC Shanghai Research and Development Center in 2017. Boeing and Airbus also depend on “high-quality global suppliers,” state-run newspaper China Daily said in an editorial Wednesday.

Persons: ”, Scott Kennedy, Scott, Shukor Yusof, it’s, Kennedy, “, Qilai Shen, Yusof, VCG, Parker, Rockwell Collins, America’s, COMAC, COMAC hasn’t, there’s, ” Yusof Organizations: Hong Kong CNN, Boeing, Airbus, Center for Strategic, International Studies, Commercial Aircraft Corporation of China, Endau, CNN, China Eastern Airlines, Shanghai Research, Development Center, Bloomberg, China, Global Times, GE, CFM, China Daily, America’s Boeing, US, TransNusa, “ Airlines Locations: Hong Kong, China, Beijing, North America, Europe, Washington, Shanghai, Russia, Ukraine, Russian, Asia, United States, European, Malaysia, Indonesia

The characters on the HBO show "Succession" often reference real events and billionaire figures. Here's what the Roys have said, done, and worn that capture the real-life world of the rich. Top editors give you the stories you want — delivered right to your inbox each weekday. The HBO drama, which has won awards for its acting and writing, is also incredibly well-researched. There are obvious nods: The Roys, like the Murdochs and the Arnaults, have succession drama that's made for TV.

☆ I drove the $180,000 Lucid Air and experienced the stunningly fast, screen-filled future of luxury cars
▼ + stars: | 2023-05-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +9 min

I drove the Lucid Air Grand Touring Performance, a $180,000 electric car. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance. The Lucid Air Grand Touring Performance.

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