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☆ Nearly 2 in 5 cardholders have maxed out a credit card or come close, report finds
▼ + stars: | 2024-10-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

As a result, many are using more of their available credit and now, nearly 2 in 5 credit cardholders — 37% — have maxed out or come close to maxing out a credit card since the Federal Reserve began raising rates in March 2022, according to a new report by Bankrate. Other reasons cardholders blame for maxing out a credit card or coming close include a job or income loss, an emergency expense, medical costs and too much discretionary spending. Generation X at riskwatch nowMore than any other generation, Gen Xers in their 40s and 50s are most likely to have maxed out a credit card or come close in the past two and a half years, according to Bankrate's report. Of Gen Xers, 27% have maxed out their credit cards compared to 23% of millennials and 17% of Baby Boomers. Young adults in Gen Z are the least likely to have maxed out a card, according to the survey, which polled more than 3,500 adults, including 3,015 who are credit cardholders and 1,104 who have either maxed out their credit cards or come close.

Persons: Bankrate, Sarah Foster, Xers, Gen X Organizations: Federal Reserve, Bankrate, Baby Boomers, Gen

☆ Auto giants launch a flurry of cheaper electric vehicles — taking the fight to China
▼ + stars: | 2024-10-17 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024. So, Citroen, Peugeot [and] Renault, they are all showing some smaller affordable models," Poliscanova said. The partly covered wheel of a BYD Co. electric vehicle at the Paris Motor Show in Paris, France, on Tuesday, Oct. 15, 2024. "This year in Europe, we did not have affordable models, so people are not buying those overpriced premium vehicles. Not that many full electric vehicles in Europe for less than that price," he added.

Persons: Carlos Tavares, Julia Poliscanova, Poliscanova, carmaker, Environment's Poliscanova, JATO, Denis Le Vot, CNBC's Charlotte Reed, Le Vot Organizations: Stellantis, Citroen, Paris, Bloomberg, Getty, Europe's, Transport & Environment, CNBC, Peugeot, Renault, carmaker Renault, Tech, Auto, Parc des, Chesnot, U.S, Beijing, Dacia, EV Locations: Paris, France, PARIS, Europe, China, Dacia, EVs, Parc, U.S

☆ Visa is undervalued considering its consistent growth, says Mike Khouw. How to trade it
▼ + stars: | 2024-10-17 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

As a global leader in digital payments, Visa has 4.2 billion credit and payment cards in circulation across more than 200 countries. Through its advanced transaction processing network, VisaNet, the company facilitates payment authorization, clearing, and settlement, and it is one of the most remarkable and consistent growth stories around — along with fellow payment processing company Mastercard. The following chart illustrates its remarkably consistent growth since the pandemic plunge (which naturally suspended considerable economic activity). While a 30 P/E is higher than the market's, the S & P trades closer to 26 times earnings; Visa should trade at a premium. The ability for consumer spending growth to continue apace is limited, so presumably, topline growth will slow somewhat.

Organizations: Visa, Mastercard, DOJ, Nvidia, United Health, Southwest Airlines, CNBC, NBC UNIVERSAL

☆ Hedge fund manager Daniel Loeb believes Trump's chances are increasing and he's betting accordingly
▼ + stars: | 2024-10-17 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Third Point's Daniel Loeb believes the odds are rising that former President Donald Trump will win the U.S. presidency this November over Vice President Kamala Harris and the influential hedge fund manager is increasing positions that would benefit under a Republican administration and Congress. But Loeb in his quarterly missive said he was increasing both "stock and option purchases" to bet on the Trump win scenario. Loeb is not alone on Wall Street in making those bets with JPMorgan most recently highlighting gains in bank stocks and the U.S. dollar as signs more investors see a Republican win. The fund gained 4% last quarter, according to the letter, also trailing the market. But he sees the improvement in market breadth that began in the third quarter continuing, especially under a Republican administration.

Persons: Point's Daniel Loeb, Donald Trump, Kamala Harris, ", Loeb, Harris, missive, Biden, CNBC's Scott Wapner Organizations: U.S, Republican, CNBC, Biden, NBC, Trump, JPMorgan Locations: U.S, Danish

☆ Federal judge blasts DeSantis administration for threats against TV stations
▼ + stars: | 2024-10-17 | by ( Liam Reilly | Brian Stelter | ) edition.cnn.com time to read: +4 min

New York CNN —“To keep it simple for the State of Florida: it’s the First Amendment, stupid.”That’s what a federal judge wrote Thursday as he sided with local TV stations in an extraordinary dispute over a pro-abortion rights television ad. “Florida has now banned abortions, even in cases like mine.”The state health department – part of Gov. John Wilson, the health department’s general counsel, sent cease-and-desist letters to multiple television stations airing the ad. The health department’s threats were so chilling that WINK, a CBS affiliate, pulled the ad from its broadcasts, Florida Politics reported. Other stations have continued to air the ad, some as recently as Thursday evening, according to the TVEyes video search service.

Persons: New York CNN —, Mark E, Walker, Caroline, ”, Ron DeSantis’s, –, John Wilson, Wilson, Joseph Ladapo, ” Wilson, “, ” Jae Williams, Jessica Rosenworcel Organizations: New, New York CNN, State of, Chief U.S, District, Northern, Northern District of, Gov, Tampa Bay Times, Miami Herald, CNN, Physicians for Human Rights, CBS, Florida Politics, Democratic, FCC Locations: New York, State of Florida, Northern District, Northern District of Florida, Florida

☆ Pakistani police fire tear gas at protesting students as anger spreads over alleged on-campus rape
▼ + stars: | 2024-10-17 | by ( Associated Press | ) edition.cnn.com time to read: +4 min

Lahore, Pakistan AP —Pakistani police fired tear gas and charged at student protesters who ransacked a college building Thursday, as anger spread over an alleged on-campus rape, prompting the government to shut schools, colleges and universities for two days. Tensions have been high on college campuses since reports of the alleged rape in the eastern city of Lahore spread on social media, and protests have broken out in four cities. Thursday’s violence started when hundreds of students demonstrated outside a campus in the city of Rawalpindi in Punjab province. They also arrested a man who is accused of spreading misinformation on social media about the alleged rape and inciting students to violence. But Punjab police on Thursday urged people to share any information about the alleged rape.

Persons: ransacking, Mohammad Afzal, Mauz Ullah, ”, Usman Ghani, don’t, Hasna Cheema, ” Cheema Organizations: Pakistan AP, Police, Wednesday . Police, Punjab Group, Colleges, Federal Investigation Agency, Aurat Foundation, Social Development Organization, Sindh province . Police Locations: Lahore, Pakistan, Rawalpindi, Punjab province, Gujrat, Punjab, Islami, Sindh province

☆ I spent a week 'bikepacking' over 330 miles from Pittsburgh to DC. The solo journey was challenging, but I'd absolutely do it again.
▼ + stars: | 2024-10-17 | by ( Tara Lerman | ) www.businessinsider.com time to read: +8 min

I spent a week riding my bike from Pittsburgh to Washington, DC. The road was rough at times, but the people I met made the journey worthwhile. AdvertisementWhen I set out to ride my bike from Pittsburgh to Washington, DC, I wasn't quite sure what to expect. "Bikepacking" — riding a bicycle carrying clothing, food, water, and camping gear and finding places to sleep outside along the journey — is not an easy endeavor. AdvertisementAbout halfway through my ride, I met a lovely woman who was born and raised in Meyersdale.

Persons: —, Tara Lerman, Mason, he'd, Bikepacking, Little Orleans , Maryland Tara Lerman, bikepack, I've, I'm Organizations: Service, Facebook, GAP, Chesapeake and, Baltimore and Ohio Railroad, Lake Erie Railroad, Union Railroad, Western Maryland Railway —, Dixon, Mason Locations: Pittsburgh, Washington, DC, Chesapeake and Ohio, Baltimore, Monongahela, Allegheny, Pennsylvania, Alabama, Texas, Maryland, Little Orleans , Maryland, Frostburg , Maryland, Meyersdale , Pennsylvania, Meyersdale

☆ How Amazon is taking a Hollywood-style approach to its marketing
▼ + stars: | 2024-10-17 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Amazon is looking for ways to market itself outside the traditional TV spot under exec Amy Powell. She also teased a new show with "Recess Therapy" creator Julian Shapiro-Barnum. AdvertisementOn Monday, Amazon is set to announce "Celebrity Substitute," a new show with Julian Shapiro-Barnum, the 25-year-old comedian and actor of the online hit "Recess Therapy." "It involves Julian, how Amazon gives back to the community, schools, teachers," Amy Powell, head of entertainment marketing at Amazon, said recently when describing the concept. The upcoming show is one of many ways Powell is working to integrate Amazon's brand into entertainment, drawing on her Hollywood background.

Persons: Amy Powell, Powell, Julian Shapiro, —, Barnum, Shapiro, they'll, Julian, we've, Jack Ryan, Nick Cannon, Powell wasn't, it's, What's Organizations: Paramount, Barnum, Service, Amazon, Paramount Television, Procter & Gamble, Marriott, Google, Walmart Locations: New York

☆ New York Liberty star Breanna Stewart and wife receive homophobic threats amid WNBA Finals
▼ + stars: | 2024-10-16 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Police are investigating a threatening, homophobic e-mail sent to WNBA power forward Breanna Stewart's wife as the New York Liberty compete in the finals. “Being in the Finals and everything like that it makes sense to file something formal,” Stewart said. The threat came after the Liberty lost in Game 1 of the WNBA finals against the Minnesota Lynx. Stewart told ESPN the threatening email came after the Game 1 loss. She said the league will meet with the players association, players and teams to address the matter using technology and prioritizing mental health and reinforcing security.

Persons: ” Stewart, “ don’t, Marta Xargay Casademont, Marta, Xargay, “, Stewart, ”, Cathy Engelbert, ” Engelbert Organizations: New York Liberty, Police, WNBA, Spanish National, Force, New, New York Post, Associated Press, “, Liberty, Minnesota Lynx, ESPN, NBC, Lynx Locations: New York

☆ Fulton County DA asks appeals court to restore three election subversion charges against Donald Trump
▼ + stars: | 2024-10-16 | by ( Holmes Lybrand | ) edition.cnn.com time to read: +2 min

CNN —Fulton County District Attorney Fani Willis has asked the state’s Court of Appeals to reinstate six counts in the election subversion case against Donald Trump and his co-defendants, including three specifically against the former president. The court filing brings the aftermath of the 2020 presidential election, and the effort to overturn Trump’s election defeat, back into the spotlight as early voting begins in Georgia in the 2024 election. The counts relate to Trump and his co-defendants’ alleged efforts to have state officials appoint a fake slate of electors for the state following his loss in the 2020 election. In his March decision, McAfee wrote that Willis failed to give the defendants “enough information” to prepare their defenses. “As written, these six counts contain all the essential elements of the crimes but fail to allege sufficient detail regarding the nature of their commission, i.e., the underlying felony solicited,” McAfee wrote at the time.

Persons: Fani Willis, Donald Trump, Scott McAfee, Trump, ’, McAfee, Willis, ” McAfee, ” Willis Organizations: CNN, Trump Locations: Fulton County, Georgia

☆ The solid-state batteries hype is fading – prompting auto giants to consider alternatives
▼ + stars: | 2024-10-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Solid-state batteries have long been billed as the "holy grail" of sustainable driving. As the name suggests, solid-state batteries contain a solid electrolyte, made from materials such as ceramics. Automakers have invested billions of dollars in solid-state battery research and teamed up with developers to produce their own versions for mass production. Tomohiro Ohsumi | Getty Images News | Getty ImagesJapan's Toyota, for instance, has said it is aiming to bring solid-state batteries into mass production between 2027 and 2028. Yet, despite growing hype over the potential rollout of solid-state batteries, analysts remain skeptical about when they will actually make it to market.

Persons: Tomohiro Ohsumi, Japan's Nissan, Germany's Mercedes, Max Reid, Wood Mackenzie, Reid, Wood Mackenzie's Reid, Julia Poliscanova, Poliscanova, Nio, Ganfeng, Environment's Poliscanova Organizations: Afp, Getty, Toyota Motor Corp, Benz Group, Stellantis, Hyundai, Kia, Environmental Defense Fund, CNBC, Transport, Environment, Paris, Show, Qingtao Energy Locations: Nanjing, China's, Jiangsu, PARIS, France, Tokyo, Japan, U.S, China

☆ AI sales startup Clay is raising a new funding round at a $1.3 billion valuation, sources say
▼ + stars: | 2024-10-16 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +3 min

The company last raised a $46 million Series B at a $500 million valuation led by Meritech in June. AdvertisementClay, the AI-powered sales startup, is set to be valued at $1.3 billion in a new insider funding round, two sources told Business Insider. Sequoia Capital, First Round Capital, Box Group, and Boldstart Ventures participated in that round. Clay's AI messaging tool can then help sales teams send tailored outbound messages to prospective customers. Apollo, a sales intelligence startup, raised a $100 million Series D round led by Bain Capital Ventures last year at a $1.6 billion valuation.

Persons: Clay, Meritech, —, Kareem Amin, Amin, Varun Anand Organizations: Service, Business, Meritech Capital, Sequoia Capital, Boldstart Ventures, Wall Street, Bain Capital Ventures

Amazon also announced a Kindle Scribe redesign, plus new generation models of the Kindle Paperwhite and base Kindle. Amazon Kindle Colorsoft Signature Edition The Kindle Colorsoft is Amazon's first color e-reader. Check price at AmazonAmazon Kindle Paperwhite (2024) Amazon's latest Kindle Paperwhite offers even faster performance than its predecessors in the same thin, waterproof form readers love. AdvertisementKindle Paperwhite (12th Generation)The new Kindle Paperwhite offers higher contrast than ever. AmazonAmazon’s fastest and most popular Kindle is about to get even faster with the 2024 Kindle Paperwhite.

Persons: It's, Scribe, It’s Organizations: Business, Kindle, Amazon hasn’t, Scribe Locations: Kindles

☆ 17 'unfairly punished' stocks to buy since history says a market leadership shift is near
▼ + stars: | 2024-10-16 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

However, the group has been left in the dust by large caps, which continue to thrive. Here are 17 stocks to buy as SMID caps make a major comeback. So-called SMID caps seemed poised to take the baton from large caps over the summer. Why a shift toward smaller stocks is comingCentral to BMO's bullish thesis for smaller stocks are the group's eye-grabbing relative performance and valuations. 17 stocks to buy before a market reversalAfter a series of false starts, Belski believes smaller stocks will finally lead the market higher.

Persons: —, BMO —, Brian Belski, Belski, BMO's, they've Organizations: Service, BMO Capital Markets, BMO, BMO Capital Locations: —, Central, US

☆ Holiday shopping season: An early look at how retail stores and e-commerce are getting ready for the rush
▼ + stars: | 2024-10-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The consumer continues to look healthy and the supply chain has regained stability as the holiday shopping season begins. "Across the board, we are seeing volumes very similar to what we've seen in past years, especially last year," said Kelleher. Amazon recently announced its plan to hire 250,000 additional workers for the holiday season, the same seasonal hiring level as last year. "This will achieve some cost efficiencies in getting that volume out because of inflation and cost," he said. "So typically, Cyber Monday is a heavy volume day," Kelleher said.

Persons: Patrick Kelleher, we've, Kelleher, " Kelleher Organizations: DHL Supply, North, CNBC, Freight, National Retail Federation Locations: North America

☆ The federal government just made it much easier to cancel your gym membership
▼ + stars: | 2024-10-16 | by ( Erika Tulfo | ) edition.cnn.com time to read: +4 min

The FTC unveiled its final “click-to-cancel” rule, which requires businesses provide a way for consumers to cancel their subscriptions that is just as easy as it is to sign up. That includes everything from gym memberships to digital streaming and e-commerce to cable TV service. “Too often, businesses make people jump through endless hoops just to cancel a subscription,” said Commission Chair Lina Khan in statement by the FTC. Other times they might’ve been able to sign up online, but in order to cancel they had to call and talk to a representative. Other kinds of memberships required them to actually show up in person to cancel their subscription,” Brett said.

Persons: ”, Lina Khan, Laura Brett, Brett, you’ve, ” Brett, Natnan, ABCmouse, Brian Fung, Nathaniel Meyersohn Organizations: CNN, Federal Trade Commission, FTC, Federal, National Advertising Division, BBB

☆ Amazon invests in nuclear energy, hot on the heels of Google and Microsoft
▼ + stars: | 2024-10-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand. Amazon's announcement follows recent investments in nuclear energy from Microsoft and Google amid the AI boom. Advertisement"We need smart solutions that can help us meet growing energy demands while also addressing climate change," Amazon's vice president of global data centers, Kevin Miller, said in a statement. The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand through partnerships with Energy Northwest and Dominion Energy, respectively. Constellation Energy has struck a deal to provide Microsoft with nuclear power by reopening the Three Mile Island plant.

Persons: —, Ken Griffin, Kevin Miller, – Organizations: Microsoft, Google, Service, Tech, Amazon, AWS, Citadel, Ares Management Corporation, NGP, University of Michigan, Energy Northwest, Dominion Energy, E, Constellation Energy, Susquehanna, Electric, IEEE Spectrum, Dow Locations: Washington, Virginia, Pennsylvania, New Jersey , Ohio, Texas

☆ Robots and AI-powered assistive tech are poised to transform accessibility and mobility
▼ + stars: | 2024-10-16 | by ( Jake Hall | ) www.businessinsider.com time to read: +8 min

She credited assistive technologies more broadly with saving her from "desperation and extremely dark thoughts." The Atalante X is made by Wandercraft, a company founded by a group of engineers in 2012 that develops mobility technologies. Kevin Piette, a Paralympic tennis player, carried the Olympic torch in the Atalante X, Wandercraft's robotic exoskeleton. Advancing rehabilitationDr. Laurent Metz, Wandercraft's global chief medical officer, described the Atalante X as a "walking robot full of sensors." Other assistive technologies are redefining accessibility and mobility.

Persons: there's, —, Esther Klang, Klang, Wandercraft, Kevin Piette, Laurent Metz, Metz, ReWalk, Elaine Schaertl, Short, Tatum, Dani Clode, neuroscientists, Clode, It's Organizations: Service, Robotics, Tufts University, Tatum Robotics, National Disability Institute Locations: Wandercraft's, Europe, Brazil

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Tesla, Starbucks, Disney, Microsoft, Cisco, Coinbase & more
▼ + stars: | 2024-10-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo reiterates Citi as overweight The firm said Citi remains a number one pick following earnings on Tuesday. Citi reiterates JB Hunt as a top pick Citi said the shipping giant remains a top pick following earnings on Tuesday. Citi upgrades Cisco to buy from neutral Citi says AI will play a bigger role in Cisco's future than investors assume. Bank of America upgrades Corteva to buy from neutral The firm said the ag chemical company has numerous tailwinds ahead. Citi reiterates Coinbase as buy The firm lowered its price target on the stock to $275 per share from $345.

Persons: Fargo, Goldman Sachs, Wells, Baird, Grainger, Jefferies, Rapid7, GTM, JB Hunt, JBHT, it's bullish, Bernstein, Tesla, it's, GOOG, TD Cowen, Yum, Cowen, Taco Bell, Morgan Stanley, Piper Sandler, Walt Disney, Guggenheim, HSBC downgrades Estee Lauder, Estee Lauder, Coinbase Organizations: Citi, FAST, BMO, Microsoft, Netflix, Autodesk, Nvidia, Barclays, Apple, DoJ, UBS, California Resources, CRC, Chord Energy, Yum Brands, Taco, Taco Bell, Disney, Walt, Cisco, HSBC downgrades, HSBC, Bank of America, Qualcomm Locations: China, Greater China

☆ Amazon announces first Kindle ever with color screen, retailing for $279
▼ + stars: | 2024-10-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: 1 min

Amazon on Wednesday announced a new Kindle e-reader, and for the first time ever it has a color display. The retailing giant introduced the Kindle in 2007, and every device since then has had a black-and-white screen. The new Kindle has a display that's designed to ensure colors don't appear washed out or pixelated, even when users zoom in on images. The $279 device, which Amazon is calling the Kindle Colorsoft, has "weeks of battery life," the company said. Amazon also unveiled a refreshed $399 Kindle Scribe with new note-taking features, an updated $159 Kindle Paperwhite and a 12th generation Kindle, which costs $109.

Persons: Panos Organizations: Wednesday, Amazon Locations: New York, Panos Panay

☆ Australia is going to more than double the size of Ukraine's Abrams tank force
▼ + stars: | 2024-10-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

AdvertisementAustralia plans to send Ukraine a large batch of M1A1 Abrams tanks, officials confirmed on Wednesday, in a move that will more than double the size of Kyiv's existing inventory. The planned transfer will significantly expand Ukraine's arsenal of Western-provided armored vehicles and help replace the Abrams lost in combat. An Australian M1A1 Abrams Main Battle Tank during a training exercise in August 2021. Related storiesVasyl Myroshnychenko, the Ukrainian ambassador to Australia, said that the Abrams tanks will be an "essential part" of Kyiv's land defenses. Since the Abrams are American-made tanks, Australia had to get the US to sign off on the transfer.

Persons: Abrams, —, Pat Conroy, Cpl, Sarah E, Conroy, Vasyl Myroshnychenko, we've, Myroshnychenko Organizations: Abrams, US, Ukraine, Service, Australia's Defense Industry, Bradley, Australian M1A1 Abrams, US Marine Corps, Ukrainian Armed Forces, Australian Broadcasting Corporation, NATO Defense, ABC, Canberra Locations: Australia, Ukraine, Canberra, Kyiv, Russia, London, Ukrainian

☆ Investor sentiment starting to enter into frothy territory with so much going well for stock market
▼ + stars: | 2024-10-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Fully 90% expect a "soft landing," or "no landing" at all (i.e. That's not the case here: the Fed is cutting rates going into, at worst, a soft landing, which is very unusual. The S & P 500 was up 2.0% in September and is higher by 0.9% so far in October. Historically, the S & P tends to rise beginning in the last week of October and through November and December. Goldman Sachs noted that, since 1928, the median S & P 500 return from October 15 to December 31 has been 5.17%.

Persons: That's, Alicia Levine, BNY, Goldman Sachs, Goldman, buybacks, Stocks, there's, AAII, BofA Organizations: America, Trump, Bank of America Global Fund, Survey, Fed, buybacks, American Association of Locations: U.S, frothy

☆ Bed Bath & Beyond is returning – at the Container Store
▼ + stars: | 2024-10-16 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Bed Bath & Beyond is coming back to a physical store near you after going out of business last year. As part of the investment, Bed Bath & Beyond branded kitchen, bath and bedroom products will soon be sold at the Container Store’s 102 locations. In May, the Container Store began a strategic review of its business as it struggles with slumping sales and hasn’t posted a profit in three years. For Bed Bath & Beyond (BYON), its rebirth from a bankrupt physical retailer to an e-commerce giant hasn’t lived up to its expectations. Shares of the Container Store (TCS) soared 40% in premarket trading Wednesday.

Persons: it’s, hasn’t, ”, Marcus Lemonis Organizations: New, New York CNN, Beyond Inc, Container, Overstock.com, “, Inc Locations: New York

☆ Alibaba's international arm says its new AI translation tool beats Google and ChatGPT
▼ + stars: | 2024-10-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese e-commerce giant Alibaba 's international arm on Wednesday launched an updated version of its artificial intelligence-powered translation tool that, it says, is better than products offered by Google, DeepL and ChatGPT. Alibaba's fast-growing international unit released the AI translation product as an update to one unveiled about a year ago, which it says already has 500,000 merchant users. Sellers based in one country can use the translation tool to create product pages in the language of the target market. Large language models power artificial intelligence applications such as OpenAI's ChatGPT, which can also translate text. Alibaba's translation tool is based on its own model called Qwen.

Persons: Marco MT, Sellers, Kaifu Zhang Organizations: Alibaba, Google, Flores, Alibaba International Digital Commerce Group, CNBC Locations: China, BEIJING

There is no indication that the officers knew McAlpin was deaf or had cerebral palsy before his arrest. Harris’ body camera video shows him attempting to arrest McAlpin within seconds of exiting his vehicle. Harris tells Sue, “I think I broke my hand” and Harris says McAlpin had bitten him, the body camera video shows. Much of the interaction is captured on Harris’ body camera. McAlpin's wife arrives on the scene minutes later and tells the officers that he is deaf and has cerebral palsy, the body camera video shows.

Persons: Tyron McAlpin, Benjamin Harris, Kyle Sue, Jesse Showalter, McAlpin, Rachel Mitchell, Mitchell, ”, “, Harris, Sue, McAlpin didn’t, McAlpin’s, McAlpin “, Harris ’, “ Tase, Harris Tases McAlpin, Showalter, they’ll, “ Tyron, Andre Miller Organizations: Phoenix, Phoenix Police Department, Justice Department, Maricopa County Attorney’s Office, NBC News, Indian, NBC, Professional, The Arizona NAACP, Arizona State Conference NAACP Locations: Maricopa County, ”

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