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The Hugging Face website on a laptop arranged in New York, US, on Thursday, Aug. 17, 2023. "We should encourage all companies to build on disruption-proof AI technology that only open source can offer." To be clear, big bets made on open source AI pre-date last Friday when news first broke of Sam Altman's removal as OpenAI CEO, and those bets include an open source AI model controlled by one dominant tech company, Meta Platforms ' Llama. Open source and AI governanceFormer Google CEO Eric Schmidt is behind Mistral AI, another open source rival to OpenAI's ChatGPT. A third open source AI startup, Poolside AI, recently pulled in $126 million co-led by French telecom and internet billionaire Xavier Niel and U.S. VC firm Felicis Ventures.
Persons: Gabby Jones, Eric Schmidt, Sam Altman, Microsoft —, Mike Gualtieri, Forrester, Marc Benioff, Delip Rao, Sam Altman's, Thomas Wolf, We've, Wolf, Linus Torvalds, Paul Drews, OpenAI's, Arthur Mensch, Mistral, Xavier Niel Organizations: Nvidia, Bloomberg, Getty Images Tech, Salesforce, Qualcomm, Microsoft, Twitter, Google, Meta, IBM, Intel, Sequoia Capital, Salesforce Ventures, Mistral, alums, Lightspeed Venture Partners, French, . VC, Felicis Ventures Locations: New York, France
Abercrombie & Fitch on Tuesday blew past estimates as it posted a 20% jump in sales thanks to a strong back-to-school shopping season and growth at both its namesake brand and Hollister. For its fourth quarter, Abercrombie expects net sales growth to be up low double-digits compared to the prior year, which is in line with the 11.6% growth analysts had expected, according to LSEG. The expected uptick is driven by a higher gross profit rate, lower freight costs and higher sales prices. Abercrombie CEO Fran Horowitz told analysts the company has seen an "encouraging" start to the holiday shopping season. During the quarter, Abercrombie saw sales at its namesake brand grow by 30% to $548 million and revenue at Hollister grow by 11% to $509 million.
Persons: Fitch, Abercrombie, Fran Horowitz, " Horowitz, Horowitz, we've Organizations: Abercrombie, LSEG, Eagle Locations: Hollister
The day after Thanksgiving historically has marked the start of the holiday shopping rush. This matters because the November-December gift-buying months combined can account for about 20%, or a sizable chunk, of retailers’ sales for the full year. Retailers this year trotted out early Black Friday-like deals weeks ahead of the annual day-after-Thanksgiving shopping bonanza. “It is a lengthier shopping season because retailers were rolling out early Black Friday deals as early as October. Walmart’s first round of early Black Friday deals included a 50-inch TV house brand for $148.
Persons: New York CNN —, , , Marshal Cohen, Cohen, Yuki Iwamura, Adam Davis, Wells, they’ll, Cohen doesn’t, doorbusters, Julie Ramhold, ” Ramhold, Charlie Riedel, Walmart’s, “ I’m, Chromebooks Organizations: New, New York CNN, National Retail Federation, Getty, Retailers, , , Shoppers, Apple, Valentine’s Locations: New York, AFP, Wells Fargo
AMZN mountain 2021-01-01 Amazon's stock performance since the start of 2021. CRM mountain 2021-01-01 Salesforce's stock performance since the start of 2021. DHR mountain 2021-01-01 Danaher's stock performance since the start of 2021. DIS mountain 2021-01-01 Disney's stock performance since 2021. SWK mountain 2021-01-01 Stanley Black & Decker's stock performance since the start of 2021.
Persons: It's, Eli Lilly, Salesforce, Bob Iger's, Emerson, Lal Karsanbhai, hasn't, tanked, Laxman Narasimhan, Stanley Black, Decker, , Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Federal Reserve, Dow Jones Industrial, Nvidia, Microsoft, Linde, LIN, Broadcom, Web Services, Walt Disney, Paramount, Warner Bros Discovery, Disney, Emerson, Emerson Electric, National Instruments, Google, Honeywell, Honeywell International, Technologies, Solutions, Meta, Reality Labs, Starbucks, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, Seattle, Danaher's, China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHealthcare services have pricing power and earnings growth, says Trivariate's Adam ParkerAdam Parker, Trivariate Research founder, joins 'Closing Bell' to discuss his year-end playbook and market outlook.
Persons: Trivariate's Adam Parker Adam Parker Organizations: Healthcare, Trivariate Research
We understand the pain,” said Jason Straziuso, a spokesman for the Red Cross. It’s not possible.”The Red Cross has about 130 employees in Gaza, he said, giving it some ability to deliver humanitarian aid and to visit the scenes of destruction from the war. Mr. Straziuso said Red Cross officials were talking to Hamas, Israel, the United States and other nations about the condition of the hostages. Warring nations have blocked the Red Cross from visiting hostages or prisoners of war in previous conflicts. In 2022, eight months into the war between Ukraine and Russia, the Red Cross still had little access to prisoners held by either side.
Persons: , Jason Straziuso, , Straziuso, Cross, Osama Hamdan, Liz Hirsh Naftali, Abigail Idan, Abigail, “ Abigail, ” Ms, Naftali, Lester Holt, Rachel Goldberg, Polin, Goldberg, Jon Polin, Rachel Goldberg’s, Hersch Organizations: Red, NBC News, NBC Locations: Gaza, Israel, United States, Egypt, Qatar, Lebanon, Jihad, Ukraine, Russia, Richmond , Va
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with CIC Wealth Malcolm Ethridge and Big Technology's Alex KantrowitzMalcolm Ethridge, CIC Wealth Executive Vice President, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss their year-end playbook, market outlook, and tech sector.
Persons: Malcolm Ethridge, Alex Kantrowitz Malcolm Ethridge, Alex Kantrowitz Organizations: Big Technology
Rosalynn Carter was a paragon of strength and resilience in a marriage that was in all ways a true partnership. Her death was announced by the Carter Center on Sunday, which said she had passed away with loved ones at her bedside. It was different however, when she visited her neighbor’s house and saw a photo of Jimmy Carter on the bedroom wall. Former President Jimmy Carter kisses former first lady Rosalynn Carter after they received the Presidential Medal of Freedom from President Bill Clinton in 1999. In Jimmy Carter’s post-presidency, the Carters have championed democracy and political stability, traveling to hot spots including Cuba, Sudan and North Korea.
Persons: Kate Andersen Brower, , , Obama, Biden, Jill Biden, Jimmy, Rosalynn Carter, , Jimmy —, Kate Andersen Brower katebrower.com, Carter, Rosalynn, “ Rosalynn, ” Carter, Jimmy Carter, Ruth — Carter’s, ” Carter’s, Walter Mondale, Gerald Rafshoon, Bill Clinton, Tami Chappell, Reuters “, Hamilton Jordan, we’d, ” Rafshoon, Jordan, Ronald Reagan, Erin Schaff, Jill Stuckey, that’s, ” Rosalynn, Jimmy ”, Jimmy Carter’s, They’ve, ” Stuckey Organizations: , Bloomberg News, CNN, CNN —, paragon, Carter, Atlanta, Carter Center, Methodist, Democratic, Peanut Brigade, White, Reuters, Republican, New York Times, The New York Times, Maranatha Baptist Church, Los Angeles Times, Ethiopian, Eritrean Locations: Plains , Georgia, Georgia, Tijuana , Mexico, Plains , Ga, Atlanta, Cuba, Sudan, North Korea, Africa, Asia
It's rare for Disney Chief Executive Bob Iger to acknowledge his company has had creative missteps. At the time, Disney's animation and live-action studio divisions had struggled with a string of failed movies, including including "The Alamo," and "Home on the Range" and "Pooh's Heffalump Movie." He also acquired Pixar, giving Disney an immediate infusion of quality movies and a brand of storytelling that rubbed off on Disney's traditional animation studio. In 2006, acquiring Pixar quickly improved Disney's film quality and box office results. Iger noted the Disney animation studio's next release, "Wish," which stars Ariana DeBose and debuts in theaters on Wednesday, could begin a run of sustainable hits for Disney.
Persons: Bob Iger, it's, I've, Iger, , Alan Bergman, Ariana DeBose, Ralph, Coco Organizations: Disney, Pixar, Marvel, Star, Trian Partners Locations: Comscore
Every day, we're exploring how we can use AI to work better and how all marketing jobs are changing. How AI is changing marketingIt's often said that content is king, and today AI is super-charging content. Because, we recently asked a GenAI tool to show us "a group of disabled people" and what it delivered was imagery of only people in wheelchairs. The research shows that marketing jobs are among the occupational groups with the highest exposure to GenAI. We need to ensure that humans control and edit AI outputs to fully represent and empower all people in society.
Persons: Jessica Jensen, , let's, Jessice Jensen, we've, we're Organizations: Service
Israeli Prime Minister Benjamin Netanyahu said at the weekend that the PA in its current form should not take charge of Gaza. In the wake of Netanyahu's comments, Israeli officials have insisted that Israel does not intend to occupy the Gaza Strip. Dahlan has the backing of the influential United Arab Emirates to lead a post-war administration in Gaza, according to diplomats and Arab officials. So far, the U.S. and its allies have not seen any clear roadmap from Israel for its exit strategy from Gaza beyond the declared aim of eradicating Hamas, diplomats say. Not since the U.S. invasion of Iraq in 2003 has there been such widespread concern about military action raging across the Middle East, according to Arab officials and diplomats.
Persons: Israel tightens, Gaza's, Mahmoud Abbas, Fatah, Benjamin Netanyahu, Mohammed Dahlan, Israel, Dahlan, Joe Biden, Netanyahu, Gaza –, , Abu Mohammad, We're, Biden, Jonathan Panikoff, government's, Biden's, Antony Blinken, Blinken, Abbas –, Abbas, Mohammad Shtayyeh, Abu Dhabi, Marwan Barghouti, Washington, Joost R, John Kirby, Nidal al, Humeyra Pamuk, Matt Spetalnick, Andrew Mills, James Mackenzie, Crispian Balmer, John Irish, Aidan Lewis, Alexander Cornwell, Samia Nakhoul, Daniel Flynn Organizations: Palestinian, Hamas, Israel Defense Forces, REUTERS, Authority, Palestinian Authority, West Bank, United, Israel, U.S, policymaking, Reuters, Atlantic Council, Gaza, Western, Israel ., UAE, North Africa, Crisis, House, Thomson Locations: Gaza, Israel, Gaza Israel, Iraq, Afghanistan, Palestinian, U.S, United States, Washington, Hamas, Abu Dhabi, United Arab Emirates, America, Egypt, Jordan, UAE, Saudi Arabia, Qatar, Tokyo, Oslo, European, technocrats, United Nations, Middle East, Iran, GAZA, Doha, Jerusalem, Paris, Cairo, Dubai
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJay Powell wants to be remembered as Paul Volcker not Arthur Burns: Former Fed Governor KrosznerRandy Kroszner, former Federal Reserve governor, joins 'Squawk on the Street' to discuss his thoughts on the latest economic data, the Federal Reserve's upcoming playbook, and whether the Fed will weigh the weaker economic data even more.
Persons: Jay Powell, Paul Volcker, Arthur Burns, Kroszner Randy Kroszner Organizations: Former, Federal Reserve, Federal
Building a private 5G network for your business could be beneficial if you need fast data transfers. But 5G is more expensive than 4G or WiFi, so it may not be worth it for every business. McKinsey has estimated that mobile operators will spend more than $650 billion from 2022 to 2025 to make 5G networks the norm. If you're considering adding 5G to your business, here's what you need to know. "At present, there are very few 5G business networks deployed, and many are still in a trial phase.
Persons: , Keith Brownsword, Brownsword, William Webb, Webb, who's, Fabio Giust, Giust, it's, Samantha Kight Organizations: Service, Mobile, McKinsey, 4G, Institute of Electrical, Electronics Engineers, Access, 5G's
A new CNN documentary releasing on Thursday sheds light on the strained, complex relationship between former NFL player Michael Oher and the Tuohy family. This narrative is captured in “The Blind Side,” which followed a 2006 book of the same name by Michael Lewis. Oher sits on the beach during an NFL game between the Baltimore Ravens and the Buffalo Bills in 2010. A Tennessee judge terminated the Tuohy’s conservatorship over Oher in September. Tuohy sold his company for $220 million.” Oher declined to be interviewed for the CNN documentary, citing pending litigation, while the Tuohy family also declined an interview.
Persons: Michael Oher’s, , Max, Michael Oher, Sean, Leigh Anne Tuohy, I’m, ” Quinterio Franklin, Oher, ” Anthony Burrow, ” Burrow, , Michael Lewis, Sandra Bullock, Oscar, SJ, ” Quinton Aaron, ” Oher, don’t, Jim Rome, Nick Wass, Joseph Crone, Oher’s Briarcrest, Nate Hale, Oher’s, ” Hale, Tuohy Organizations: CNN, NFL, Hollywood, Bowl, Briarcrest Christian School, Baltimore Ravens, Buffalo Bills, Tennessee Titans, Carolina Panthers Locations: Memphis , Tennessee, Eads, Memphis, , Hollywood, Tennessee, Oher
KKR's Paula Campbell talks her private equity investing playbook
  + stars: | 2023-11-16 | 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 EmailKKR's Paula Campbell talks her private equity investing playbookPaula Campbell Roberts, KKR chief investment strategist for global wealth, joins 'Closing Bell Overtime' to discuss why the 60/40 portfolio isn't working in today's market.
Persons: KKR's Paula Campbell, playbook Paula Campbell Roberts Organizations: KKR
Nikki Haley says anonymous social media accounts and bots pose a "national security threat." AdvertisementGOP presidential hopeful Nikki Haley says people need to use their true identities on social media. AdvertisementNEW - Nikki Haley: "Every person on social media should be verified by their name" because of "national security." "The truth is, if you look at social media, the misinformation and the dramatic sides of social media are instigating this. Haley said this was why her proposals would be necessary to counter the "national security threat" posed by anonymous social media accounts and social media bots.
Persons: Nikki Haley, Haley, , It's, Vivek Ramaswamy sidestepped, Ramaswamy, Nikki Organizations: Fox News, Service, United Nations, GOP, Democrats, Business Locations: Russia, China, Iran, North Korea, Social, Ramaswamy
The key to those predictions is the Federal Reserve and the monetary policy Jerome Powell will enact next year as he fights to get inflation down to a target of 2%. Clearly, anticipating the Fed's next move is far from simple, even for Wall Street pros. While government data is clearly an important source of data for central bankers, a less-understood resource is academia. Understanding which of these resources central bankers rely on can provide insight into upcoming monetary policy moves. That way they could find the signal in all the noise and focus only on the academic journals really driving public monetary policy.
Persons: Jerome Powell, Morgan Stanley, Goldman Sachs Organizations: Wall, Business, Federal Reserve, UBS, Fed, Bank of International
After Russia invaded Ukraine in 2022, Germany went through a period of uncomfortable soul-searching about the close ties that some of its political and business leaders had to Moscow. That self-examination spilled into the country’s journalistic establishment this week after published reports revealed that an award-winning television broadcaster and author who has extensively covered Russia’s president, Vladimir V. Putin, had received hundreds of thousands of euros in undisclosed payments from businesses linked to a billionaire ally of Mr. Putin. The reports, by a consortium of publishing outlets including Germany’s Der Spiegel and The Guardian of Britain, were based on what the consortium said was a leaked cache of offshore financial records. They said that the broadcaster, Hubert Seipel, had been paid about 600,000 euros (about $651,000) in installments from accounts connected to Alexei A. Mordashov, a prominent Russian businessman, who was placed under sanctions by the United States last year as a way to punish Mr. Putin for his war in Ukraine. The payments were to support Mr. Seipel’s books about Mr. Putin, the reports said.
Persons: Vladimir V, Putin, Mr, Der Spiegel, Hubert Seipel, Alexei A Organizations: Guardian, United Locations: Russia, Ukraine, Germany, Moscow, Britain, Russian, United States
New York CNN —Robinhood is trying hard to lure customers fed up with traditional banks that pay little to no interest on savings. To attract deposits, the stock trading app made famous by the GameStop craze is offering fatter and fatter interest rates. That’s far higher than traditional banks and among the highest in the industry. We see an opportunity to correct that,”Tenev argued this has long been part of the “playbook” of traditional banks. The Robinhood rate of 5% applies to new and existing customers of Robinhood Gold, a subscription service that costs $5 a month.
Persons: New York CNN — Robinhood, , Vlad Tenev, ” Tenev, Robinhood, Roth, , Tenev, We’re Organizations: New, New York CNN, GameStop, CNN, Federal Reserve, American Bankers Association, Bank, AMC, of America, ” Bank of America Locations: New York
China’s property boost has to sway wary banks
  + stars: | 2023-11-15 | by ( Chan Ka Sing | ) www.reuters.com   time to read: +4 min
That didn’t work because lenders balked at increasing their exposure to over-leveraged real estate groups. Xi needs to articulate a broader plan to restore banks’ confidence in the troubled property sector. Beijing’s problem is that the cash it doles out may not reach the intended targets because banks are reluctant to pass it on to property developers. Chinese banks heeded the strong signal coming from Beijing. Still, simply throwing money at reluctant banks won’t help heal the current real estate wounds.
Persons: Aly, homebuyers, Xi, shantytown redevelopments, , Francesco Guerrera, Thomas Shum Organizations: REUTERS, Reuters, People’s Bank of China, Authorities, Bloomberg, Financial Times, Reuters Graphics Reuters, Thomson Locations: Guangfuli, Shanghai, China, HONG KONG, Beijing, shantytown
Antitrust trials are full of long stretches of detailed, often tedious testimony punctuated by telling moments. In the two-month Google antitrust trial that is nearing its conclusion, one of those moments came in a brief exchange in October. The barriers to competition in search today, Mr. Schmidtlein said, are less daunting than Microsoft’s stranglehold on personal computer software. “Let’s move on,” said Judge Amit P. Mehta, who wrote in an opinion earlier in the year that he would use the Microsoft case as a guiding framework. “I think I can figure out what the Microsoft case was about.”The antitrust fight against Microsoft in the 1990s has loomed over the government’s showdown with Google.
Persons: John Schmidtlein, Google’s, Schmidtlein, , , Amit P, Mehta Organizations: Justice Department, Microsoft, Google
Nov 14 (Reuters) - Singapore-based Sea (SE.N) reported a surprise third-quarter loss as the Southeast Asian tech giant prioritized growth over profits by pouring money into its e-commerce business, sending its shares more than 17% lower on Tuesday. The company also expects to boost investments, it said, ahead of the key holiday shopping season in the fourth quarter. Sea has spent heavily in what is called "e-commerce live streaming", where products are sold over live videos, a model popular in China. The company posted a loss of 26 cents per share for the quarter ended Sept. 30, ending its streak of three straight profitable quarters. However, a global economic slowdown hit e-commerce and digital entertainment, forcing Sea to undertake hefty cost cuts including laying off thousands of employees.
Persons: Alibaba Group's, ByteDance's, Forrest Li, Chavi Mehta, Devika Organizations: HK, Thomson Locations: Singapore, China, Bengaluru
These two hopeless loners are the only people in the bar in this Off Broadway revival of John Patrick Shanley’s “Danny and the Deep Blue Sea,” at the Lucille Lortel Theater. Though modest in scale, the show is one of the fall’s hottest thanks to its stars, Aubrey Plaza and Christopher Abbott. Shanley’s writing sometimes devolves into hard-boiled mannerisms, but it also has a sharp pugnaciousness. Similarly, Abbott and Plaza’s performances move beyond histrionics and gain confidence as their characters start letting themselves feel. When Danny and Roberta finally strike up a conversation, it immediately reveals their combustible approaches to life itself.
Persons: Danny, Roberta, Oates’s slinky, You’ve, John Patrick Shanley’s “ Danny, Lucille Lortel, Aubrey Plaza, Christopher Abbott, Plaza, Emily, Abbott, Allison Williams’s Locations: Bronx, , histrionics
Professional investors are flocking to bonds in a stampede not seen since the end of the financial crisis, according to the latest Bank of America Global Fund Manager Survey. "The big change in the November FMS was not the macro outlook, but rather the conviction in lower inflation, rates, and yields," Bank of America investment strategist Michael Hartnett wrote in a summary of the results. The move was "evidenced by the 3rd largest overweight in bonds in the last two decades (only in Mar'09 and Dec'08 were investors more overweight bonds)." Expectations for a bond reversal dominated the November survey, with a record 61% saying they expect lower yields over the next 12 months. The "investor playbook for 2024 is soft landing, lower rates, weaker US$, large cap tech and pharma bull continues, avoid China and leverage," Hartnett said.
Persons: Michael Hartnett, playbook, Hartnett Organizations: Bank of America Global Fund, Survey, Wall Street, Bank of America, Mar, Federal Reserve, pharma Locations: China
CNN —Donald Trump is promising a second presidency that would be an aberration in American history. And Trump’s ambitions should be taken seriously because one year from the election, President Joe Biden’s reelection hopes are far from secure. He dehumanizes his political enemies, has discredited the legal, political and electoral system, has demonized the press and has targeted vulnerable members of society, minorities and immigrants, as scapegoats. With questionable historic comparisons, Trump’s critics only fuel his bid to provoke the outrage that is essential to his political appeal. Nikki Haley have only criticized Trump obliquely, understanding there’s no market in the modern Republican Party for confronting Trump’s lawlessness.
Persons: Donald Trump, Trump, Joe Biden’s, , ” Trump, , “ Donald Trump parroted, Adolf Hitler, Benito Mussolini, Ammar Moussa, he’s, he’ll, else’s, Biden, , Bill Clinton, Barack Obama, there’s, Bob Dole, Mitt Romney, institutionalists, Republican Party isn’t reining, Trump’s, Mike Pence, Chris Christie, Asa Hutchinson, Ron DeSantis, Nikki Haley, South Carolina Sen, Tim Scott, Susie Wiles, Chris LaCivita, , Mark Milley, who’s, Jack Smith’s, , Abraham Lincoln’s, George Washington’s, ” Smith Organizations: CNN, White, Veterans, Trump, New York Times, Republican, Democratic, Capitol, Republican Party, GOP, Florida Gov, South Carolina Gov, Justice Department, Conservative Political, Conference, Univision, Joint Chiefs, Staff, NBC News, MSNBC, Abraham Lincoln’s Gettysburg Locations: New Hampshire, Gaza, Ukraine, China, Russia, Europe, America, South Carolina
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