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☆ South Africa’s Young Democracy Leaves Its Young Voters Disillusioned
▼ + stars: | 2024-05-28 | by ( Lynsey Chutel | Joao Silva | ) www.nytimes.com time to read: +1 min

At the dawn of South Africa’s democracy after the fall of the racist apartheid government, millions lined up before sunrise to cast their ballots in the country’s first free and fair election in 1994. South Africa is now heading into a pivotal election on Wednesday, in which voters will determine which party — or alliance — will pick the president. This downward curve has mirrored the support for South Africa’s governing party, the African National Congress, or A.N.C., which was a liberation movement before becoming a political machine. A new generation of voters do not have the lived experience of apartheid nor the emotional connection that their parents and grandparents had to the party. as a governing party is all young people know, and they blame it for their joblessness, rampant crime and an economy blighted by electricity blackouts.

Persons: Nelson Mandela Organizations: South, African National Congress Locations: South Africa

☆ As Putin and Xi meet, the power dynamics between Russia and China keep the West guessing
▼ + stars: | 2024-05-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Pedro Pardo | Afp | Getty ImagesRussia's close relationship with superpower China is under close scrutiny as Russian President Vladimir Putin meets his Chinese counterpart Xi Jinping on Thursday. "Neither Putin nor Xi can achieve what they want to achieve, both domestically and internationally, without the support of the other. Russian President Vladimir Putin and China's President Xi Jinping leave after a reception following their talks at the Kremlin in Moscow on March 21, 2023. Russian President Vladimir Putin and Chinese President Xi Jinping during a welcome ceremony at the third Belt and Road Forum in Beijing on Oct. 17, 2023. Russian President Vladimir Putin and Chinese President Xi Jinping attend a welcome ceremony before Russia-China talks in Moscow, Russia, on March 21, 2023.

Persons: Xi Jinping, Vladimir Putin, Pedro Pardo, Putin, Sam Greene, they've, " Greene, Xi, It's, Pavel Byrkin, it's, —, Natasha Kuhrt, Russia's, Kuhrt, Sergei Savostyanov, Greene, Liu Pengyu, Mikhail Tereshchenko Organizations: Forum, International Cooperation, of, People, Afp, Getty, Xinhua, Democratic, Center for, CNBC, Analysts, Kremlin, Putin, King's College London, Russia, U.S, Reuters, Sputnik Locations: Beijing, China, Ukraine, Russia, Moscow, Central Asia, Russian, U.S, Washington

☆ Stocks making the biggest moves midday: Walgreens, GameStop, Intel, Robinhood and more
▼ + stars: | 2024-05-13 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

GameStop — Shares in the video game retailer soared more than 65% on Monday after "Roaring Kitty," the man who fueled the 2021 GameStop mania, posted online on Reddit for the first time in roughly three years. Reddit , Robinhood — Shares of the two companies that were involved with the meme stock mania in 2021 rose on Monday as GameStop surged. Reddit rose more than 9%, hitting its highest level since March, while retail brokerage stock Robinhood gained about 6.2%. Intel — The chipmaker gained nearly 4% after The Wall Street Journal reported that it is in talks for an $11 billion deal with Apollo Global Management to build a factory in Ireland. Airlines — American Airlines gained 4.4%, while United Airlines and Delta Air Lines added 2.9% and 1.7%, respectively, after HSBC initiated coverage with buy ratings.

Persons: Incyte, Morgan Stanley, —, Alex Harring, Brian Evans, Hakyung Kim, Jesse Pound Organizations: Walgreens, Alliance, Bloomberg, GameStop, Arm Holdings, Nikkei, Nexstar Media Group, CW, Intel, Street Journal, Apollo Global Management, Technologies, Susquehanna, Airlines — American Airlines, United Airlines, Delta Air Lines, HSBC, Delta Locations: Irving, Texas, Ireland

☆ In India’s 2024 election, BJP’s main opposition appears increasingly weak in face of Modi juggernaut
▼ + stars: | 2024-04-20 | by ( Helen Regan | Rhea Mogul | ) edition.cnn.com time to read: +21 min

Supporters of India's opposition party, Indian National Congress, during an election rally in Puducherry on April 15, 2024 R. Satish Babu/AFP/Getty ImagesDemocracy under threat? Dipam Bhachech/Hulton Archive/Getty Images Modi worked his way through the ranks of the BJP, establishing himself as a respected politician. Tobias Schwarz/AFP/Getty Images Modi hugs French President Emmanuel Macron after a ceremony at the Arc de Triomphe in Paris, on June 3, 2017. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023. Pedro Ugarte/AFP/Getty Images Modi offers a toast during a State Dinner with President Joe Biden at the White House in Washington, on June 22, 2023.

Persons: ”, Narendra Modi, Mallikarjun Kharge, Indira Gandhi, Gandhi, ” Hazari Lal Rajput, Satish Babu, Modi, Modi’s, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Arati Jerath, “, it’s, Rahul Gandhi, Rajiv Gandhi, Indira, India’s, Jawaharlal Nehru, gunning, ” Modi, shouldn’t, Mohammad Irfan, —, Arvind Kejriwal, Altaf Qadri, Kejriwal, Atishi, you’re, Jerath, Gandhi ‘, ’ Modi, Christophe Jaffrelot, CNN Modi, Rasheed Kidwai, Rahul, Diptendu Dutta, Mamata Banerjee, Muthuvel Karunanidhi Stalin, ” Kidwai, ” Jerath Organizations: CNN, Bharatiya Janata Party, BJP, Indian National Congress, Getty, Democracy, Modi’s BJP, Pew, New York Times, Rashtriya Swayamsevak Sangh, Modi, Hospital, Narendra, India Today, AP, India's, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Developmental Inclusive Alliance, Indian, Aadmi Party, Delhi, AAP, Aam Aadmi Party, All, Trinamool, West, All India, Congress, “, “ Democracy Locations: India, Uttar Pradesh, Ramlila, Puducherry, Modi’s, Sydney, Australia, Gujarat, Ahmedabad, Ahmadabad, Varanasi, New Delhi, United States, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Abu Dhabi, United Arab, INDIA, Delhi, India’s, Lok Sabha, Atishi, ”, Manipur, Siliguri, West Bengal, Tamil

☆ Stocks making the biggest moves premarket: Netflix, Paramount, Sunnova Energy & more
▼ + stars: | 2024-04-19 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Intuitive Surgical — Shares of the robotic surgery firm popped 3% after posting a first quarter earnings and revenue beat. Western Alliance — Shares slipped 2% after the firm missed earnings expectations in its latest quarter. Western Alliance reported earnings of $1.60 per share, while FactSet had estimated this at $1.64 per share. The company slightly missed revenue expectations, however, posting $20.20 billion, while analysts expected $20.41 billion. American Express — Shares slid 1.5% despite the financial services company posting a first-quarter earnings and revenue beat above FactSet estimates.

Persons: Ashley Helgans, Sephora, Shopify, Morgan Stanley, Wells, Biden, SLB, LSEG, FactSet, Proctor, Gamble, — CNBC's Hakyung, Jesse Pound, Samantha Subin Organizations: Jefferies, Netflix, Energy, Western, Western Alliance, Paramount, New York Times, Bloomberg, Sony Pictures Entertainment, Apollo Global Management, Skydance Media, Bentley Systems, Schneider Electric, American, American Express Locations: Canada, Wells, North America, — CNBC's Hakyung Kim, Tanana

☆ Stocks making the biggest moves after hours: Netflix, Intuitive Surgical, Western Alliance and more
▼ + stars: | 2024-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Intuitive Surgical — Shares of the provider of robotic-assisted surgical solutions rose 1% after the company posted stronger-than-expected results. Western Alliance — The regional bank stock fell less than 1% in extended trading after the firm posted disappointing earnings. Western Alliance posted an EPS of $1.60 for the latest quarter, 4 cents below a FactSet estimate. KB Home – The homebuilder advanced nearly 2% after announcing that its board of directors authorized a new $1 billion share repurchase. KB Home also hiked its dividend to 25 cents a share from 20 cents, payable on May 23.

Organizations: Netflix, Western Alliance, PPG Industries, KB

☆ An Uneasy Arab-Israeli Alliance
▼ + stars: | 2024-04-18 | by ( David Leonhardt | ) www.nytimes.com time to read: +1 min

To understand the current confrontation between Iran and Israel, it helps to think about three recent phases of Middle East geopolitics. Phase 1: Before Oct. 7 of last year, Iran was arguably the most isolated power in the region. Israel, Iran’s longtime enemy, had signed a diplomatic deal during the Trump administration with Bahrain, Morocco and the U.A.E. Together, these developments pointed to the emergence of a broad alliance — among Arab countries, Israel, the U.S. and Western Europe — to check Iranian influence and aggression. Arab leaders condemned Israel, while the U.S. and other countries pressured Israeli leaders to reduce suffering in Gaza and devise an end to the war.

Persons: Biden, Iran’s, Trump Locations: Iran, Israel, East, Saudi Arabia, Bahrain, Morocco, . Iran, U.S, Europe, Gaza

☆ The New Great-Power Politics
▼ + stars: | 2024-04-12 | by ( David Leonhardt | ) www.nytimes.com time to read: +1 min

The Houthis, the Iran-backed militia that controls much of Yemen, have disrupted the global economy by firing on commercial ships traveling through the Red Sea. But the Houthis have made some exceptions: Ships from China and Russia are allowed to pass without being attacked. This policy, formalized with a diplomatic agreement last month, is the latest sign that the world has entered a new period of great power politics. On the other side are China, Russia, Iran and North Korea as well as Iran-backed groups like the Houthis. These authoritarian powers “are more and more aligned,” Jens Stoltenberg, the head of NATO, the Western alliance, told the BBC this week.

Persons: ” Jens Stoltenberg Organizations: NATO, BBC Locations: Iran, Yemen, China, Russia, United States, Japan, South Korea, Western Europe, Soviet Union, North Korea

☆ Stocks making the biggest moves premarket: Walgreens Boots Alliance, Estee Lauder, RH and more
▼ + stars: | 2024-03-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Walgreens Boots Alliance — Shares dipped 1.6% after the company's fiscal second quarter report was released. Walgreens generated $37.05 billion in revenue for the quarter, topping the LSEG forecast of $35.86 billon. Estee Lauder — Shares rose more than 3% after a Bank of America upgrade to buy from neutral. Management is guiding for full-year revenue growth to fall between 8% to 10%, while analysts polled by FactSet had forecasted 6.4%. Vornado Realty Trust — Shares gained 1.2% after Morgan Stanley upgraded the office building REIT to equal weight from underweight.

Persons: Estee Lauder, Vikram Gandhi, RH, FactSet, Morgan Stanley, Vornado, —, Jesse Pound, Sarah Min, Michelle Fox Organizations: Walgreens, Bank of America, Allstate, HSBC, Management, Apollo Global Management, Securities and Exchange Commission, U.S, Attorney's, Vornado Realty Locations: New York, West Coast

☆ Buy these 10 bank stocks now before the Federal Reserve cuts interest rates, according to Bank of America
▼ + stars: | 2024-03-24 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Plus, falling interest rates and continued economic growth would be tailwinds. The aforementioned catalysts are still in place — including interest rate cuts, as investors discovered a day earlier. Until then, the firm believes bank stocks can outperform into the first-quarter earnings season. 6 regional bank stocks worth buyingThe continued rally in financials will be powered in large part by regional banks, BofA believes. "We see the capital markets momentum continuing into 2025, which should drive investor interest in both stocks," Poonawala wrote.

Persons: Financials, Ebrahim Poonawala, Poonawala, BofA, Goldman Sachs, Morgan Stanley, Wells Fargo, Charlie Scharf, Jamie Dimon Organizations: of America, Business, Federal Reserve, Investors, Bank of America, First Bancorp, FNB Corp, Truist, US Bancorp, Western Alliance, JPMorgan, Wall, titans Locations: financials, Wells Fargo

☆ It may look like Trump scared NATO back into readiness — but it's probably all down to Putin
▼ + stars: | 2024-02-23 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +7 min

NATO states' increased defense spending in recent years has little to do with Trump, experts told BI. NATO spending has indeed accelerated since Trump entered politics. It ain't what you do, it's the way that you do itTrump's demands of NATO allies also weren't a departure from existing US policy. Threatening partners is "bananas"Trump's transactional take on NATO collective defense is ultimately reasonable, Bury said — but encouraging other countries to attack NATO allies is "bananas." AdvertisementIf US allies are spending more money on NATO defense, it's not because Trump is goading them, but because they're concerned about increasing global instability.

Persons: Trump, it's, —, Kaja Kallas, Mark Rutte, Edward Hunter Christie, Hunter Christie, William Alberque, Russia hadn't, hadn't, Alberque, Patrick Bury, Barack Obama, didn't, Joe Biden, Bury, Vladimir Putin Organizations: NATO, Trump, Service, Estonia's, Dutch, Finnish Institute of International Affairs, International Institute for Strategic Studies, UK's University of Bath Locations: Russia, ”, NATO, Crimea, Trump, South Korea, Japan, United States, Ukraine

☆ Turkey is back in from the cold with NATO and F-16 moves, but thorny issues remain
▼ + stars: | 2024-02-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Turkey spent nearly two years — along with Hungary — holding up Sweden's accession to NATO. Within hours of Ankara's decision, the U.S. approved a $23 billion sale for F-16 fighter jets to Turkey that had been delayed since 2021. It's worth noting that Hungary has yet to approve Sweden's NATO bid, and remains the only member of the alliance standing in the way of the Nordic country's accession. Turkey seemingly has a unique position that allows it to push the envelope and cross lines with its NATO allies. "My approval of Turkey's request to purchase F-16 aircraft has been contingent on Turkish approval of Sweden's NATO membership.

Persons: Turkey Recep Erdogan, It's, Recep Tayyip Erdogan, it's, Victoria Nuland, David Lepeska, Ben Cardin Organizations: NATO, Conference, Hungary —, UAE, Democratic, Senate Foreign Relations Locations: Turkey, Vilnius, Lithuania, Hungary, Sweden, Washington, Russian, Turkish, Eastern

☆ Stocks making the biggest moves premarket: Nvidia, SolarEdge, Teladoc, Palo Alto Networks and more
▼ + stars: | 2024-02-21 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

SolarEdge Technologies — Shares dropped more than 20% after the company posted mixed quarterly results. However, revenue guidance for the first quarter was well below analyst expectations . Teladoc — Shares dropped 20% the morning after the online health-care company posted worse-than-expected revenue and guidance. The company posted a loss of 17 cents per share, smaller than the 21-cent figure anticipated by analysts surveyed. Palo Alto Networks topped earnings and revenue expectations for the recent quarter, but said it anticipates slower growth for the full year.

Persons: Teladoc, RingCentral, LSEG, Brandon Oglenski, Alan Shaw, HSBC's, Noel Quinn, Wingstop, — CNBC's Michelle Fox, Alexander Harring, Fred Imbert, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nvidia, SolarEdge, LSEG, Palo Alto Networks, Alto Networks, Toll, JPMorgan, Norfolk Southern, Barclays, Amazon, Dow Jones, Walgreens, Alliance, HSBC —, Wall Street, FactSet Locations: Palo, billings

☆ Stocks making the biggest moves midday: Nvidia, SolarEdge, Teladoc, Wingstop and more
▼ + stars: | 2024-02-21 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

First-quarter revenue is expected to be $175 million to $215 million, far below the $406 million forecast. Teladoc posted $661 million in revenue, below the $671 million consensus forecast from LSEG, formerly known as Refinitiv. Wingstop — The restaurant chain slipped 4% despite reporting fourth-quarter earnings and revenue that topped analysts' estimates. However, total revenue growth came down for the fourth consecutive quarter. Wix.com reported fourth-quarter earnings of $1.22 per share, more than the consensus estimate from StreetAccount of earnings of 96 cents per share.

Persons: SolarEdge, Teladoc, Alan Shaw, —, Dow, Wingstop, Wix.com, CNBC's Hakyung Kim, Michelle Fox, Lisa Kailai Han, Jesse Pound, Samantha Subin, Yun Li, Sarah Min Organizations: Nvidia, Wall, Palo Alto Networks, Toll, Norfolk Southern, Barclays, Walgreen Boots, Dow Jones, Walgreens, Alliance, Dow Jones Industrial, Walgreens Boots Alliance, HSBC —, HSBC, Bank of Communications, Garmin —, Garmin Locations: Palo, billings, LSEG, U.S, China

☆ Sweden’s Leader Says He Will Meet With Orban to Advance NATO Bid
▼ + stars: | 2024-01-25 | by ( Andrew Higgins | More About Andrew Higgins | ) www.nytimes.com time to read: +1 min

Bowing to a Hungarian demand for negotiations over the expansion of NATO, the prime minister of Sweden on Thursday agreed to hold talks with Hungary’s leader, Viktor Orban, the last obstacle blocking the Nordic nation’s admission to the military alliance. A vote by Turkey’s parliament on Tuesday to accept Sweden as a member of the alliance, however, left Hungary as the only holdout and strengthened Mr. Orban’s leverage. It also intensified accusations abroad that he was effectively holding Sweden’s membership for ransom. In a sign that Mr. Orban intended to use his leverage, Laszlo Kover, a close ally of the Hungarian prime minister and the speaker of Parliament, indicated Thursday that he was in no hurry to put the matter to a vote. Parliament is in recess and is not scheduled to return until Feb. 15.

Persons: Viktor Orban, Ulf Kristersson, Orban, —, Laszlo Kover Organizations: NATO, Nordic, Budapest Locations: Sweden, Swedish, United States, Hungary

Political Cartoons View All 253 ImagesThe Arakan Army is a member of the armed ethnic group alliance that recently gained strategic territory in the country’s northeast. The Arakan Army is the well-trained and well-armed military wing of the Rakhine ethnic minority movement, which seeks autonomy from Myanmar’s central government. The Arakan Army first said late Sunday night that it gained complete control of Paletwa township. Paletwa, whose location on the border gives it strategic importance, is where the Arakan Army first established a foothold in 2015 to fight the against the army. However, the Chin have been a major force in the resistance against the military since the army seized power in 2021, so they now share a common enemy with the Arakan Army.

Persons: Khaing, Khaing Thukha, Aung, Suu Kyi, hasn't, Paletwa, Chin Organizations: Arakan Army, Associated Press, Military, Army, Myanmar National Democratic Alliance Army, National Liberation Army —, Paletwa Locations: BANGKOK, Rakhine, India, Bangladesh, Arakan, Paletwa, Chin, Shan, China, Suu

These two diverging camps — the open and the closed — disagree about whether to build AI in a way that makes the underlying technology widely accessible. "So it’s not like a thing that is locked in a barrel and no one knows what they are.”Political Cartoons View All 1277 ImagesWHAT'S OPEN-SOURCE AI? Part of the confusion around open-source AI is that despite its name, OpenAI — the company behind ChatGPT and the image-generator DALL-E — builds AI systems that are decidedly closed. An increasingly public debate has emerged over the benefits or dangers of adopting an open-source approach to AI development. Weights are numerical parameters that influence how an AI model performs.

Persons: they’re, That's, ”, Darío Gil, Alliance —, ” Gil, OpenAI, Ilya Sutskever, there's, David Evan Harris, Harris, “, Oppenheimer ’, Camille Carlton, Yann LeCun, LeCun, fearmongering, ” LeCun, Chris Padilla, Joe Biden's, Gina Raimondo Organizations: Tech, Meta, IBM, Alliance, Google, Microsoft, Dell, Sony, AMD, Intel, Associated Press, Stanford University, University of California, for Humane Technology, Frontier Model, Windows, Commerce, European Locations: Berkeley

☆ Meta and IBM launch alliance advocating 'open science' approach to AI, putting them at odds with rivals like Google and OpenAI
▼ + stars: | 2023-12-05 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Meta and IBM have launched an alliance that's calling for an "open science" approach to AI development. Facebook parent Meta and IBM on Tuesday launched a new group called the AI Alliance that's advocating for an "open science" approach to AI development that puts them at odds with rivals Google, Microsoft and ChatGPT-maker OpenAI. AdvertisementPart of the confusion around open-source AI is that despite its name, OpenAI — the company behind ChatGPT and the image-generator DALL-E — builds AI systems that are decidedly closed. An increasingly public debate has emerged over the benefits or dangers of adopting an open-source approach to AI development. Biden's order described open models with the technical name of "dual-use foundation models with widely available weights" and said they needed further study.

Persons: —, they're, That's, Darío Gil, Alliance —, Gil, OpenAI, Ilya Sutskever, there's, David Evan Harris, Harris, Oppenheimer, Camille Carlton, Yann LeCun, LeCun, fearmongering, Chris Padilla, Joe Biden's, Gina Raimondo Organizations: Meta, IBM, Google, Microsoft, Service, Tech, Alliance, Dell, Sony, AMD, Intel, Associated Press, Stanford University, University of California, for Humane Technology, Frontier Model, Windows, Commerce, European Locations: Berkeley

☆ Some student-loan borrowers are surprised to find their accounts are suddenly in forbearance. Here's why that might be happening.
▼ + stars: | 2023-11-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Some student-loan borrowers are logging into their accounts and seeing it in forbearance. AdvertisementAdvertisementIf you recently logged into your student-loan account and were surprised to see it placed in forbearance, you're not alone. Over the past few days, student-loan borrowers primarily serviced by MOHELA have logged into their accounts to see their loans were no longer in active repayment. Still, the borrower's account continues to show a payment due with interest accruing, according to documents reviewed by Insider. AdvertisementAdvertisementWas your student-loan account placed on administrative forbearance without any notice?

Persons: servicer, —, MOHELA, servicers, forbearance, Scott Buchanan, Elizabeth Warren, Ed Markey, Chris Van Hollen, Richard Blumenthal, Scott Giles Organizations: Department, Service, Public, Student Loan, — Locations: forbearance, MOHELA, Sens

☆ A government shutdown in 12 days could make student-loan borrowers' repayment and customer service struggles even worse
▼ + stars: | 2023-11-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A shutdown could worsen the repayment challenges student-loan borrowers are experiencing. AdvertisementAdvertisementA government shutdown is once again looming, and it's threatening an already precarious return to repayment for student-loan borrowers. Thousands of federal workers would be furloughed, meaning Americans could face delays with customer service in programs like Social Security, along with student-loan repayment assistance. Even before federal student-loan payments officially resumed in October, borrowers were experiencing severe delays getting help from their student-loan servicers due to hours-long hold times and issues processing paperwork. Further limiting the number of customer service representatives available in the event of a shutdown would place a greater strain on borrowers.

Persons: —, Mike Johnson, Johnson, Rosa DeLauro, Scott Buchanan Organizations: Service, Washington, Democratic, Social Security, Management, Education, Education Department, Federal, Aid, Student Loan, —

☆ Student-loan borrowers struggling with repayment need more help than what the Education Department has offered — and they might not get it
▼ + stars: | 2023-11-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Education Department is strengthening oversight by withholding pay from one servicer, MOHELA. AdvertisementAdvertisementPresident Joe Biden's Education Department made one thing very clear this past week: Student-loan companies cannot get away with bad behavior. It's unclear at this point how withholding pay from a servicer would impact its operations, and whether the impact would trickle down to borrowers. AdvertisementAdvertisementWith Republicans holding a majority in the House, it's unlikely Federal Student Aid will see boosted funding in the upcoming year. Buchanan noted that he's still determining how exactly withholding pay would impact operations and added that he's "not making any excuses for the mistakes here."

Persons: —, Joe Biden's, MOHELA, Scott Buchanan, Jared Bass, Bass, servicers, Buchanan, he's, It's, it'll Organizations: Education Department, Service, Joe Biden's Education Department, Department, Federal Student Aid, Student Loan, —, Education, Center, American Progress, Federal, Aid

☆ AI Chatbots are scraping news reporting and copyrighted contented, News Media Alliance says
▼ + stars: | 2023-11-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

technology companies for scraping news material to train their chatbots. In August, a Reliable Sources review found that a dozen major media companies have inserted code into their websites to safeguard their content from A.I. The action would do nothing to address the prior scraping of their reporting, which the News Media Alliance — and others — said have been used to train A.I. To solve for that problem, the News Media Alliance outlined recommendations for news publishers to protect them from going extinct in this brave new world. The recommendations include policymakers recognizing that the unauthorized use of copyrighted material to train A.I.

Persons: we’ve, ”, Danielle Coffey, ” Coffey, News Media Alliance —, — Organizations: CNN, The News Media Alliance, Google, News Media Alliance, ” Publishers Locations: U.S

☆ A major student-loan company is transitioning millions of borrowers' accounts to a new platform — and it could mean up to 30-day delays posting payments
▼ + stars: | 2023-10-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan company MOHELA said on its website that it's transitioning borrowers to a new platform. The switch could mean up to 30-day delays in posting new payments. MOHELA borrowers will have to establish a new account on the platform, and its mobile app will no longer be available once the transition is complete. The announcement of this change comes less than a month after federal student-loan payments resumed following an over three-year pause. For borrowers on auto debit with their payments, MOHELA also said it'll have a new name on its new platform: auto pay.

Persons: MOHELA, —, Joe Biden's, Scott Buchanan, servicers —, it'll, Nelnet —, Nelnet Organizations: Service, Joe Biden's Education Department, Student Loan, —, The Education Department

☆ Stocks making the biggest moves premarket: Chevron, Apple, Walgreens Boots Alliance and more
▼ + stars: | 2023-10-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Chevron , Hess — Chevron shares slumped more than 2% after the oil giant said its buying smaller rival Hess in an all-stock deal totaling $53 billion, or $171 a share. Hess shares moved slightly higher. Walgreens Boots Alliance — The pharmacy operator rose nearly 3% after JPMorgan upgraded Walgreens Boots Alliance shares to overweight from neutral. Salesforce — The software giant lost nearly 2% after Piper Sandler downgraded shares to neutral from overweight, citing heightened execution and M & A risks. Bank of America downgraded Alcoa to a neutral rating and slashed its price target, citing concerns of a near-term earnings decline.

Persons: Hess, Stonepeak, Piper Sandler, Roche, —, Jesse Pound Organizations: Hess, Chevron, Apple, Global Times, Walgreens, Alliance, JPMorgan, Roivant Sciences, Pfizer, Telavant Holdings, Citi, Evercore, Alcoa, Bank of America Locations: Chevron, China

☆ Stocks making the biggest moves midday: Chevron, Okta, Walgreens, Spirit AeroSystems and more
▼ + stars: | 2023-10-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Chevron — Chevron shares fell 3% after the energy giant agreed to buy Hess in a $53 billion all-stock deal , or $171 per share. Walgreens Boots Alliance — Shares popped 5.4% on Monday after JPMorgan upgraded shares to overweight from neutral and raised its price target. Beauty — Shares added 5% after Raymond James upgraded shares to strong buy from outperform in a Monday note. Spirit AeroSystems — The aerospace company's shares gained 4.8% after Bernstein raised its rating on shares to outperform from market perform. FMC Corp — The insecticide company's shares tumbled 12% after FMC issued third-quarter guidance that's lower than what it originally called for.

Persons: Hess, Okta, Pinterest, Raymond James, Olivia Tong, Tong, Bernstein, Pat Shanahan, EngageSmart, Stonepeak, CNBC's Pia Singh, Samantha Subin, Alex Harring, Sarah Min Organizations: Chevron — Chevron, Chevron, Exxon Mobil, Natural Resources, Citi, Evercore, Stifel, Walgreens, JPMorgan, Vista Equity Partners, Textainer, Clean Holdings, FMC Corp, FMC Locations: Guyana, U.S, America

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