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☆ Drugmaker AbbVie trims profit forecasts on IPR&D expenses
▼ + stars: | 2023-04-05 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Brian Snyder(Reuters) -AbbVie Inc on Wednesday lowered its full-year and first-quarter profit expectations, citing a $150 million hit from acquired in-process research and development (IPR&D) and milestone expenses. The company estimated first-quarter adjusted earnings to be between $2.31 and $2.41 per share from an earlier range of $2.39 to $2.49. It now sees 2023 adjusted earnings to be between $10.62 and $11.02 per share, compared with its prior forecast of $10.70 to $11.10. Analysts on average were expecting full-year earnings of $11.07 per share, according to Refinitiv IBES data. AbbVie is scheduled to report first-quarter earnings on April 27.

☆ AbbVie signals Q1 hit from R&D expenses
▼ + stars: | 2023-04-05 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: A sign stands outside a Abbvie facility in Cambridge, Massachusetts, U.S., May 20, 2021. REUTERS/Brian Snyder(Reuters) - AbbVie Inc said on Wednesday it expects first-quarter earnings to be hit by acquired in-process research and development (IPR&D) and milestones expenses. The company expects first-quarter adjusted earnings, including the impact of acquired IPR&D and milestones expense, to be between $2.31 per share and $2.41 per share.

☆ Legal and finance jobs are among the most at risk from AI, while construction and trade jobs face minimal influence, studies suggest
▼ + stars: | 2023-04-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

While the studies predicted advances in AI tech could also improve labor productivity and create jobs, they said some industries would likely be more affected than others. The researchers used a benchmark that matched specific work tasks with AI capabilities to calculate the results. They estimated that about 46% of work tasks in the sector could be automated. FinanceBanks are already incorporating AI tech into their day-to-day business operations. The Goldman researchers estimated that about 29% of computing and mathematical tasks in the US and Europe could be automated.

☆ Analysis: Saudi crown prince acts to realign Mideast dynamics amid concern over US support
▼ + stars: | 2023-04-03 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +7 min

"Saudi Arabia is moving from disengagement towards engagement to allow it to focus on pushing ahead on Vision 2030," said Saudi analyst Abdulaziz Sager. A Saudi official said the United States and China are both very important partners for Riyadh. Washington and Riyadh are working on addressing common security challenges, he said. "The Saudis don’t want to be in a shooting war between Iran and the United States. Shadi Hamid of the Brookings Institution in Washington said Saudi Arabia's view that the U.S. is increasingly disengaged from the region is not entirely wrong.

☆ Peace, love, and Hitler: How Lex Fridman's podcast became a safe space for the anti-woke tech elite
▼ + stars: | 2023-04-03 | by ( Julia Black | ) www.businessinsider.com time to read: +26 min

Seemingly overnight, episodes of Fridman's podcast began racking up millions of views. YouTube/Lex FridmanIn his podcast, Fridman asks world-renowned scientists, historians, artists, and engineers a series of wide-eyed questions ("Who is God? But recently, "The Lex Fridman Podcast" has become a haven for a growing — and powerful — sector looking to dismantle years of "wokeness" and cancel culture. Twitter"The Lex Fridman Podcast" offered a rare opportunity to listen to four-hour conversations with luminaries of tech and science. Bhaskar Sunkara, the founder and publisher of the socialist magazine Jacobin who appeared on Fridman's podcast in December, praised Fridman's interviewing style.

☆ Big real estate landlords are finally starting to decarbonize, creating an $18 trillion market that this Blackstone portfolio company plans to profit from at every turn
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

The Blackstone portfolio company Legence wants to be a one-stop shop for landlords. A Real Estate Board of New York study found that the total penalties could top $213 million. Its ICS became the strategic planner, its CMTA, which designed the first net-zero school in the United States, designed the upgrades, and its Gilbert Mechanical installed the new heating, cooling, ventilation, and lighting hardware. How to do itIt may still be a challenge to coordinate decarbonization processes, which don't come naturally to large-scale real-estate operators, Boland said. Legence plans to grow the business's geographic scope and increase its depth in current markets, including Colorado and California, Sprau said.

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☆ Base10 Partners is offering its limited partners direct access to investing in unicorn startups in order to compete against VC firms with much bigger funds. Here's how.
▼ + stars: | 2023-03-31 | by ( April Joyner | ) www.businessinsider.com time to read: +5 min

Limited partners, the investors that back VC firms, are seeking out more direct deals in startups. But often LPs don't get in until long after the VC firms have invested, so they get smaller returns. VC firm Base10 Partners has launched a program to give LPs earlier access and more upside. As the exuberance in venture capital has crashed to a halt, the institutions that back VC firms, known as limited partners, have had plenty to grouse about. The VC firm Base10 Partners seeks to offer its own limited partners a remedy to this dilemma.

☆ Fetch.ai helps companies build and deploy autonomous smart agents. Check out the 19-slide pitch deck it used to raise $40 million.
▼ + stars: | 2023-03-30 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Check out the 19-slide deck it used to raise the fresh funds. A startup that uses AI to improve the autonomy of digital agents has raised $40 million as investors continue to pile in on the breakthrough tech. Cambridge-based Fetch.ai, founded in 2017, has developed technology that can help digital agents communicate with one another. Any transactions or activities between these various agents, who work with their own independent services, are recorded on the blockchain using Fetch.ai's native token, FET. With the fresh funds, Fetch.ai will develop and build out its technology.

☆ AI 'prompt engineer' jobs can pay up to $335,000 a year and don't always require a background in tech
▼ + stars: | 2023-03-29 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The rise in generative AI tools like ChatGPT has created a hot market for "prompt engineers." Sam Altman, the CEO of ChatGPT developer OpenAI, has spoken about the need for prompt engineers. Anna Bernstein, a prompt engineer at Copy.ai, was a freelance writer and historical research assistant before she started working with AI tools. Prompt marketplace PromptBase, which launched last June, allows people to hire prompt engineers or sell their prompts. Don't dwell too much on the current state of prompt engineering.

☆ 'It's honestly changed my life': Employees from one of the biggest 4-day-workweek trials say working less improved their lives but was a big adjustment
▼ + stars: | 2023-03-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

Employees working four-day weeks told Insider having the extra day off was an adjustment at first. "It's hard to overstate how good it's been," Jo Sims, a senior case manager at AKA Case Management, told Insider, adding: "It's honestly changed my life." Sims said the extra day off had improved her mental health, eased her stress levels, and left her with a new perspective. The study was led by academics from Boston College, the University of Cambridge, and the research organization Autonomy in partnership with the campaign groups 4 Day Week Global and 4 Day Week Campaign. A representative for the 4 Day Week Campaign put Insider in contact with the four employees that are referenced in this article.

☆ Elon Musk and other tech leaders call for pause on 'dangerous race' to make A.I. as advanced as humans
▼ + stars: | 2023-03-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Elon Musk and dozens of other technology leaders have called on AI labs to pause the development of systems that can compete with human-level intelligence. "Contemporary AI systems are now becoming human-competitive at general tasks, and we must ask ourselves: Should we let machines flood our information channels with propaganda and untruth?" The Future of Life Institute is a nonprofit organization based in Cambridge, Massachusetts, that campaigns for the responsible and ethical development of artificial intelligence. The institute has previously gotten the likes of Musk and Google-owned AI lab DeepMind to promise never to develop lethal autonomous weapons systems. The institute said it was calling on all AI labs to "immediately pause for at least 6 months the training of AI systems more powerful than GPT-4."

☆ The Fed should pause rate hikes and make sure financial contagion is behind us: Mohamed El-Erian
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed should pause rate hikes and make sure financial contagion is behind us: Mohamed El-ErianMohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss the Fed's next steps, how much banks will reel in their lending, and more.

☆ The No. 1 best U.S. city to live in is Cambridge, Massachusetts—see which other cities made the list
▼ + stars: | 2023-03-26 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Niche released its list of the best U.S. cities to live in 2023. This month, Niche released its ranking of the best cities to live in America in 2023. The list ranked 228 cities by using data from the U.S. Census, FBI, Bureau of Labor Statistics and CDC in combination with millions of resident reviews. Like Cambridge, the second city on the list, Arlington, Virginia, is home to top-class universities like Georgetown and George Washington University. Arlington, Virginia also ranks as one of the best cities to raise a family and retire.

☆ Cambridge do double on Oxford in boat race
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +1 min

[1/5] Rowing - University Boat Race - Oxford v Cambridge - River Thames, London, Britain - March 26, 2023 Cambridge in action ahead of Oxford on their way to winning the men's race Action Images via Reuters/Peter CziborraLONDON, March 26 (Reuters) - Cambridge's male and female rowers claimed a double over Oxford in the university boat race on the River Thames on Sunday. Earlier the women's crew were dominant as they beat Oxford for a sixth successive time. "The rush of emotions when we crossed the line, there's nothing like it," Cambridge men's cox Jasper Parish, whose brother Ollie was also part of the team, said. Cambridge's women's crew won by four and a half lengths although Oxford complained of encroachment. Cambridge lead the rivalry 47-30 in the women's event, while Cambridge men have won 86 times to Oxford's 81.

☆ Amazon, other retailers revamp 'free' shipping as costs soar
▼ + stars: | 2023-03-24 | by ( Lisa Baertlein | ) www.reuters.com time to read: +6 min

REUTERS/Alyssa PointerLOS ANGELES, March 24 (Reuters) - There is no such thing as free shipping. "The days of free delivery are numbered," Ken Morris, managing partner at Cambridge Retail Advisors, said of the fast-changing retail marketing tool. It is an open secret that most retailers raise product prices to subsidize free shipping. Postal Service hitting record levels, the industry where nearly three-quarters of e-commerce companies offer some sort of free shipping is rethinking the financial cost of habituating shoppers to free shipping. While retailers like Amazon and fashion purveyor Asos Plc (ASOS.L) have raised thresholds for fast shipping, others are dropping free shipping altogether or taking product prices up again.

☆ Locks of hair compose a symphony of genetic information on Beethoven
▼ + stars: | 2023-03-22 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Researchers said on Wednesday his genome showed the German composer was both genetically predisposed to liver disease and had hepatitis B virus infection. The new findings suggest there were multiple factors behind his liver disease including genetics, viral infection and alcohol consumption. "Prior to this study, alcohol was the only definitely known risk factor for Beethoven's liver disease." Beethoven experienced progressive hearing loss starting at age 29 and by 44 his hearing loss was complete, though he continued to compose masterpieces. There was no evidence found for conditions hypothesized by some experts such as otosclerosis or Paget's disease, Begg said.

☆ UBS acquiring Credit Suisse is 'no bailout' says Swiss finance minister — but top economist Mohamed El-Erian disagrees
▼ + stars: | 2023-03-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Switzerland's finance minister said UBS' $3.25 billion acquisition of Credit Suisse is not a bailout. The UBS and Credit Suisse deal — worth 3 billion Swiss francs, or $3.25 billion — comes with government guarantees and liquidity provisions. In particular, the Swiss government is guaranteeing UBS will get up to 9 billion Swiss francs if they incur losses from certain assets. The Swiss National Bank is also providing 100 billion Swiss francs in liquidity support to both banks. "The bankruptcy of Credit Suisse would have had a huge collateral damage - on the Swiss financial market also internationally," she said.

☆ College hopefuls have a new ultimate dream school — and it's not Harvard, Princeton or Yale
▼ + stars: | 2023-03-15 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Most of the colleges at the very top of students' wish lists are "perennial favorites," according to Robert Franek, The Princeton Review's editor-in-chief. They are also among the most competitive: Stanford's acceptance rate is also just below 4%; at Harvard, it's about 3%. The report found application volume jumped 30% since the 2019-20 school year, even as enrollment has slumped nationwide. At that point, they must pay a non-refundable deposit to secure their seat at the school of their choice. Tuition and fees plus room and board for a four-year private college averaged $53,430 in the 2022-2023 school year; at four-year, in-state public colleges, it was $23,250, according to the College Board.

☆ Zara is opening or revamping nearly 30 stores in the US by 2025 — here's where they're located
▼ + stars: | 2023-03-15 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Inditex is planning to open at least 10 new Zara stores across the US by 2025. At least a dozen other Zara locations will be revamped or enlarged, the retailer said. "This is a market in which for every $100 of fashion sold, we take less than $0.50 of that," García Maceiras said. Foot traffic is up at Zara stores around the world, and Inditex reported a 23% jump in store sales in 2022 across its portfolio of brands, which includes Zara, Bershka, and Massimo Dutti. Inditex plans to invest 1.6 billion euros, about $1.7 billion, in expanding its stores and warehouses worldwide, including a new Zara store on Paris' Champs Elysées, and at least 10 new locations across the US.

☆ Our bank deposits are safe, that is really important: Allianz's Mohamed El-Erian
▼ + stars: | 2023-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur bank deposits are safe, that is really important: Allianz's Mohamed El-ErianMohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss if we're starting a full-blown banking crisis, what the Federal Reserve should do at upcoming meetings, and more.

☆ AI Tech Like ChaptGPT, Bing, Bard Is a Bigger Threat Than Social Media
▼ + stars: | 2023-03-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +13 min

Nowadays, the promise of social media as a unifying force for good has all but collapsed, and Zuckerberg is slashing thousands of jobs after his company's rocky pivot to the metaverse. Much like social media in 2012, the AI industry is standing on the precipice of immense change. And as Altman and his cohort charge ahead, AI could fundamentally reshape our economy and lives even more than social media. If social media helped expose the worst impulses of humanity on a mass scale, generative AI could be a turbocharger that accelerates the spread of our faults. Social media amplified society's issues, as Wooldridge puts it.

☆ Mohamed El-Erian on SVB fallout: Depositors are fine, there's no need to worry anymore
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMohamed El-Erian on SVB fallout: Depositors are fine, there's no need to worry anymoreMohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins 'Squawk Box' to discuss his thoughts on the backstop provided to SVB, if other banks will have similar issues as SVB, and much more.

☆ Moderna to hire around 2,000 employees amid mRNA development push
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

Companies Moderna Inc FollowMarch 10 (Reuters) - Moderna Inc (MRNA.O) said on Friday it was planning to hire about 2,000 employees globally by 2023-end and set up new offices on the U.S. West Coast, as it aims to scale up development of new products amid declining COVID vaccine sales. The COVID vaccine maker said it will open new offices in California and Seattle, adding that its Genomics unit will expand to south San Francisco. Last month, Moderna forecast rising costs for 2023 and a decline in COVID vaccine sales, raising concerns that the company could post a loss this year. The firm had about 3,900 full-time employees as of Dec. 31, according to a regulatory filing. Reporting by Raghav Mahobe in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

He joins junior doctors across England who will go on strike on March 13 for three days, protesting over pay and burnout that risks driving staff out of the health service as it tackles record-high patient waiting lists. "We've reached a boiling point where we have had enough," said Wang - a council member of the British Medical Association (BMA), which represents doctors and medical students. Junior doctors are qualified physicians, often with several years of experience, who work under the guidance of senior doctors and represent a large part of the country's medical community. The BMA says junior doctors' take-home pay has been cut by more than a quarter over the last 15 years, when using the Retail Price Index (RPI) gauge of inflation. The walkouts by junior doctors will put more pressure on the state-funded National Health Service (NHS) which is experiencing waves of strike action by nurses, ambulance workers and other staff.

☆ These are the 20 safest U.S. cities for solo female travelers—6 are in California
▼ + stars: | 2023-03-08 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

TripIt, a travel organizing app, shared their list of the top 20 safest cities in the U.S. for women travelers exclusively to CNBC Make It. Using data from GeoSure, a platform that analyzes metadata to determine the safety of particular destinations, TripIt ranked the cities using a score from 1 to 100. The cities on the list were scored based on variables like:rights and libertiesenvironmental factorsopportunities to meet needs. All of the cities on the list landed a score of 71-80. Jen Moyse, VP of product at TripIt, tells CNBC Make It that the safest destinations in the U.S. have a few things in common.

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