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☆ BlackRock's Larry Fink says he's a 'major believer' in bitcoin, is worried about government deficits
▼ + stars: | 2024-07-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

BlackRock CEO Larry Fink told CNBC's " Squawk on the Street " that he sees a future for bitcoin after previously being a " proud skeptic " of the cryptocurrency. "I'm a major believer that there's a role for bitcoin in portfolios," Fink said Monday, calling it "digital gold." The firm's iShares Bitcoin Trust (IBIT) has raked in more than $18 billion since its launch in January, making it the biggest bitcoin exchange-traded fund. Fink said political risk and rising government debt are some of the reasons for investors to own bitcoin. Fink said even outside of bitcoin, he sees rising public spending as one of the biggest issues facing the world.

Persons: Bitcoin, Larry Fink, CNBC's, Fink, I'm, bitcoin Organizations: BlackRock, bitcoin, Nasdaq Locations: lockstep, bitcoin

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock CEO Larry Fink 'major believer' there's role for bitcoin in portfolios: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jason Hogg, former FBI special agent and founder of Matunuck Group, discusses the rise in crypto ATM scams.

Persons: Larry Fink, explainers, Jason Hogg Organizations: CNBC Crypto, CNBC, FBI, Matunuck

☆ Billionaire BlackRock CEO Larry Fink runs the world's largest asset manager. Here's how he became one of the most powerful people in finance.
▼ + stars: | 2024-07-13 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

In 1986, he took a hit when his department lost roughly $100 million from incorrectly predicting interest rates would rise when they in fact fell. A bad bet on interest rates cost Fink's department at First Boston $100 million in 1986. APYears later, in his 2016 commencement address to graduates of UCLA, Fink reflected on the loss. But I was even more upset with myself, because I had become complacent…too sure of what I thought I knew. "We probably should have been fired for the amount of risk we were taking during those times," he once told Crain's.

Persons: Fink, Crain's Organizations: Boston, AP, UCLA

☆ Welcome back to Wall Street earnings season
▼ + stars: | 2024-07-11 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +6 min

But for now, we're turning to Wall Street in our big story, as big banks gear up to report their earnings. The big storyEarnings to watchMomo Takahashi/BIJust like that, it's Wall Street earnings season once again. Wall Street banks have been waiting for M&A, IPOs, and other fee-generating corporate dealmaking to come roaring back for two years. In May, the CEO shocked Wall Street by saying he plans to step down in the next five years . Will banks start charging for everyday consumer products like checking accounts?

Persons: —, Joe Biden's, Sen, Peter Welch, Biden, Momo Takahashi, Wells, Goldman Sachs, Morgan Stanley, Kaja Whitehouse, Jamie Dimon's, Kaja, Jefferies, Jamie Dimon, Wall, Marianne Lake, We're, Larry Fink, Jenny Chang, Rodriguez, Neil Dutta, Tesla's, Elon Musk, Jeff Bezos, Rich Guy, Alyssa Powell, Andrei Cojocaru, David Zaslav, isn't, Joe, Zaslav, Jordan Parker Erb, Lisa Ryan, Joe Ciolli, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Democrat, Democratic, Hollywood, NATO, Business, showtime, JPMorgan, Citigroup, BlackRock, Bank of America, Getty, Warner Bros, Discovery, Air Lines, PepsiCo, Bureau of Labor Statistics Locations: New York, Chicago, London

☆ Americans Are Angry Because Prices Are Constantly Changing
▼ + stars: | 2024-07-10 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

A "good" price for something today may have seemed outlandish five years ago. A "good" price for something today may have seemed outlandish five years ago, and it's understandable to wonder whether today's price is just as fleeting. The whole idea of what's a good price for a 12-pack of carbonated soft drinks has changed dramatically over the past few years." Plenty of companies can move their prices, whether by using dynamic prices or downright raising prices, because they're the only game in town. The answer to getting accustomed to high prices is basically to forget what those numbers were in 2019.

Persons: Wendy's, they're, There's, Carly Fink, —, Fink, they'd, Jon Hauptman, Hauptman, Timothy Webb, University of Delaware who's, it's, Ravi Dhar, Taylor Swift, John Zhang, Webb, Dhar, Emily Stewart Organizations: Walmart, Price, University of Delaware, Center, Yale School of Management, Starbucks, Wharton, Business

Wall Street’s game theoryAs more leading Democrats say privately that President Biden should withdraw from the presidential race, some of the party’s most prominent backers on Wall Street spent the holiday weekend debating what to do next. If they favor calling for him to step back, they discussed what their next moves should be. Wall Street is taking a different approach than Hollywood. (Many are also reportedly irate at Jeffrey Katzenberg, Biden’s campaign co-chair.) And many donors want to maintain their influence within the Democratic Party.

Persons: Biden, Larry Fink, BlackRock, Robert Rubin, Jon Gray, Blackstone, Peter Orszag, Lazard, Blair Effron, Robert Wolf, Barack Obama —, DealBook, Reed Hastings, Barry Diller, Rob Reiner, Abigail Disney, Jeffrey Katzenberg Organizations: Wall, Treasury, Centerview Partners, UBS, Hollywood, Netflix, IAC, Democratic Party

☆ Elon Musk and Tesla are on the rise after a brutal start to the year
▼ + stars: | 2024-07-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .

Persons: —, I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London

☆ How a Trump-Beating, #MeToo Legal Legend Lost Her Firm
▼ + stars: | 2024-06-28 | by ( Katie J. M. Baker | ) www.nytimes.com time to read: +1 min

Last fall, senior partners at Kaplan Hecker & Fink, a New York law firm known for championing liberal causes, made a fateful decision: They were going to sideline their hard-charging and crusading founder, Roberta A. Kaplan. The reign of one of the country’s most prominent lawyers was coming to an end. Ms. Kaplan was already famous when she founded her law firm in 2017, having won a landmark Supreme Court case that paved the way for marriage equality for gay Americans. The firm soon gained national prominence because of her leadership in the #MeToo movement, and more recently for high-profile victories against white supremacists and former President Donald J. Trump. But those triumphs couldn’t overcome an uncomfortable reality, according to people familiar with the law firm’s internal dynamics.

Persons: Kaplan Hecker, Fink, Roberta A, Kaplan, Donald J, couldn’t, — Organizations: Kaplan, Trump Locations: New York

And they were everywhere, although, naturally, New York City was a magnet, as it has always been for L.G.B.T.Q.+ people looking for a place in which they can be themselves. New York City was where you lost your soul, and we wanted to be closer to the earth. I wore an eight-and-a-half-foot-tall Statue of Liberty costume to the Easter Parade in New York City, and Kirsten came along with me. By the time I turned 30, I’d been telling people I was older for years, because I’m not the type to bemoan the loss of my youth. Going to New York felt like this moment of emerging to a wider audience, and then I started to travel a lot.

Persons: André De Shields, Lady Bunny, Michael R, Jackson, Juliana Huxtable, Wong, J.D, Samson, Pat Oleszko, it’s, —, John Rechy, ”, Danez Smith, Trump, he’d, “, Jenna Lyons, Avram Finkelstein, Joe Mantello, …, Catherine Opie, you’re, Willie Norris, “ I’d, It’s, you’ve, ” — Mark Harris Read, De Shields, Justin French, Chuck Ashley, Anthony Cotsifas, William F, Robert O’Hara’s, Hermes, — Max Berlinger Jenna Lyons, Antonio Lopez, Jenna Lyons’s, Grace Jones ”, Juan Ramos, Antonio Lopez’s, Grace Jones, Tina Chow, Marisa Berenson, Pam Anderson, That’s, — Jason Chen Jayne County, Jayne County, Gus Stewart, Billy Idol, Wayne County, — M.B, Bill T, Jones, Arnie, Arnie Zane, Zane, Keith Haring, Lois Greenfield, Jack Mitchell, Peggy Jarrell Kaplan, Gertrude Stein, Alice B, we’d, Bill, Arnie ”, I’m, — Juan, Norris, Yael Malka, Tomas Abad, West, Black, I’d, — Colleen Hamilton B.D, New York’s Eugene, . Wong, David Henry Hwang’s, Richie, wasn’t, Wayne Barker, — John Wogan Edmund White, Edmund White, Horatio, Leonard Fink’s “, Barbara Confino, Leonard Fink, Joseph Rodriguez, Bleecker, You’d, Gosh, Michael Snyder Pat Oleszko, Chichi, Kirsten, who’d, she’d, — C.H, Brian Michael Smith, Gay, Smith, Kiki Ball, Josue Infante, Skyler Cruz, Jamison, — J.A.R, Agnes Denes’s “, Don Yowell, Finkelstein, Agnes Denes, Leslie Tonkonow, Don, Agnes Denes’s, JD Samson, Sia, Mark Hunter, Anthony Cotsifas I’d, Johanna Fateman, Tigre, Michael O’Neill, Obama, might’ve, — Kate Guadagnino Kristen Kish, Kish, Suzanne Kreiter, David Moir, Bravo, isn’t, — J.W, Stephen Spinella, Mantello, Joan Marcus, Photofest, Tony Kushner’s, Louis Ironson, Milton Glaser, he’s, David, Marshall Grant, Joe Pitt, Walter, Awards, Stephen, ” —, Freedia, Devon Hurst, Sissy Nobby, Barack Obama’s, Lyle Ashton Harris, Big, Bounce, ” — M.B, Thom Browne, Browne, Los Angeles’s Chateau Marmont, Malcolm Venville, Paul Fortune, Michèle Lamy —, — J.C, Catherine Opie’s “, Opie, Ian, Lehmann Maupin, Eileen Myles, Jenny Shimizu, I’ve, Nicole Acheampong Danez Smith, Juan Cordero, ” Womp, They’d, hookups, Who’s, We’ve, You’re, J.A.R, Linda Simpson, India, Little Louie Vega, who’s, — K.G, Alexander Chee, Alexander Chee’s, Marguerite Duras’s “, Jeongneung, King Jungjong, Eric McNatt, Chris Chee, — M.S, Sam Jay, Jay, Jonah, Kumail ”, hadn’t, K.G, Phillip Lim, Lim, Tourmaline, Sylvia Rivera, Luce Capco Lincoln, York’s, We’d, Marsha P, John Cameron Mitchell, Larry Kramer, Mitchell’s, Mitchell, Martha Swope, Billy Rose, Mark Tusk, ” Kramer’s, Larry, Ned Weeks, Ned, “ Hedwig, J.W, Joerg Lohse, Reena, there’s, Matt Bomer, Bomer, Simon Halls, Neal Caffrey, Tony Kushner, Terrence McNally —, — I’d, Hollywood, Wu Tsang, Neil Rasmus, Wildness, ’, Wildness ”, Roxane Gay, Mueller, Brandon Williams, Donna Gottschalk, Donna Gottschalk’s “, Duchess, Galerie Marcelle Alix, goddamn, Coco Romack Michael R, Aaron Kinney, Nova, “ I’m, Bob Damron’s, Sgt, Shirley, Waldorf, Harold’s, Jean ] Genet, Marcel, Proust Organizations: Pride, Stonewall, West, America’s, ACT UP, San, Playwrights Horizons, Odeon, New York’s TriBeCa, Electric, Getty, Police, Billy, New York Live Arts, Keith Haring Foundation, BAM Hamm, Liberation, Brooklyn Liberation, Brooklyn Museum, Fort, New York’s, New York’s Eugene O’Neill Theatre, Broadway, Equity, LGBT Community Center, Fulbright, Mudd, New, Bisexual, Transgender Community, Center, Transgender Community Center, “, Maxwell, Museum School, Farmers, Seattle, Boston Globe, Travel, New York Times, Rancho Mirage, Gay, Caesar’s, FEMA, Yale, York’s Webster Hall, Masters, Records, Pyramid, Work, ACT, Carpenters, Seymour, Edinburgh, Atlanta —, Ninja, Huntington, New York, Lesbian, Equal, Billy Rose Theatre Division, The New York Public Library, The New York Times, USA, Children’s Hospital of Los, MoMA, Whitney Biennial, University of Nebraska, Alamy, HarperCollins, of Engineering, Google, Division, Astor, Tilden Foundations, Pershing, University of Southern, Pershing Square Locations: New York, Berlin, “, America, San Francisco, Baltimore, New York’s, New York City, California, Atlanta, Europe, Wayne County, Dortmund, Germany, London, Amsterdam, Rotterdam, Rockland County, N.Y, ’, I’m, Brooklyn, West Dakota, Fort Greene, New, Leonard Fink’s “ Bars, Street, Rome, —, Aspen, Colo, Copenhagen, Danish, Peru, Los Angeles, Agnes Denes’s “ Wheatfield, Downtown Manhattan, North Moore, TriBeCa, Hoboken, N.J, Lower Manhattan, Manhattan, Boston, Williamsburg , Brooklyn, Vinnie’s, Bedford, Austin , Texas, Copley, Menton, Asian American, York, New Orleans, Houston, Los Angeles’s, L.A, Hong Kong, Seoul, Casa, Koreatown, Minneapolis, Grindr, East, India, Wigstock, Tompkins, Vershire, Chee, Iowa, Huntington Beach, Chelsea, Barneys, Madison, Miami, New York State, Washington, The, LA, Silver Lake, Missouri, Children’s Hospital of Los Angeles, Zurich, Central, American, Westlake, Los Angeles and New York, Lincoln, Alphabet City , New York, Lenox, United States, University of Southern California, Downtown Los Angeles

☆ Prominent Lawyer Roberta Kaplan Departs Firm After Clash With Colleagues
▼ + stars: | 2024-06-26 | by ( Katie J. M. Baker | David Enrich | ) www.nytimes.com time to read: +1 min

Roberta A. Kaplan, the celebrated lawyer who took on former President Donald J. Trump, and helped win marriage equality for gay Americans, is stepping down from the law firm she founded after clashing with her partners over her treatment of colleagues. Ms. Kaplan, a hard-charging civil rights lawyer, announced that she was leaving the firm, Kaplan Hecker & Fink, which she formed in 2017, to start a new one. Her departure followed months of internal frustration over Ms. Kaplan’s conduct toward other lawyers, according to people familiar with the matter. Those concerns led her colleagues to remove her from the firm’s management committee and precipitated her departure. Ms. Kaplan’s former firm will be renamed Hecker Fink effective Monday.

Persons: Roberta A, Kaplan, Donald J, Trump, Kaplan Hecker, Fink, Kaplan’s, Hecker Fink, “ Robbie Organizations: The New York Times

☆ The retirement Catch-22
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. Instead of making it easier for Americans to save for retirement and work as long (or as short) as they want, Fink is setting up a catch-22: The economy needs aging Americans to work longer, but many companies simply don't want them. One of Button's studies looked at "bridge jobs , " part-time jobs in administration or retail that many people use to ease into retirement and cushion their finances. The same year, Scripps Medical Clinic in San Diego was ordered to pay $6.9 million for setting a mandatory retirement age for physicians of 70, regardless of the doctors' interest or abilities. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult."

Persons: Larry Fink, behemoth BlackRock, Fink, Daniel Ross, Ross, he's, Emily Dickens, SHRM's, We've, Stacie Haller, Patrick Button, Button, ResumeBuilder.com, Gen, we've, Mother Jones, Lilly Organizations: Social Security, Lawyers, Society, Human Resources Management, US Chamber of Commerce, Tulane University, IBM, Employment, Commission, Scripps Medical Clinic, Employers Locations: Down, Texas, Austin, San Diego

☆ Retirement Crisis: Boomers Need to Work Longer, No One Will Hire Them
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

In order to avoid economic catastrophe, he argued, people should save more money and work longer. The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. For one, many older people cannot work because of a disability or because they need to care for someone else with a disability. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult." He's asking people who have not yet retired to work longer than their elders did and to save even more money, without changing the systematic barriers to either.

☆ Social media has gotten so bad that America's top doctor is intervening
▼ + stars: | 2024-06-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the surgeon general suggesting warning labels for social media . The big storyA solution for socialsAnna Moneymaker/Getty Images; Chesnot/Getty Images; Chelsea Jia Feng/BISocial media has gotten so bad that the country's top doctor is intervening. AdvertisementIn his piece, Murthy said social media is a key culprit of the mental health crisis young people are facing. Generative AI adds more fuel to the misinformation fire social media platforms have been battling for years. Many of them are making fast use of social media platforms like TikTok and investing heavily in AI.

Persons: —, Anna Moneymaker, Chelsea Jia Feng, Vivek Murthy, Geoff Weiss, Murthy, It's, Katie Notopoulos, isn't, Adam Kovacevich, Dan Whateley, Mark Zuckerberg, Zuckerberg, Danielle DiMartino Booth, Instagram, Larry Fink, Dave Calhoun, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, US, The New York Times, of Progress, Getty, Meta, Bank of America, AIM, Apple, Apple Watch, Adobe, Justice, Marketing's, District of Columbia, DC, Boeing Locations: China, Schonfeld, New York, London

☆ Jared Kushner's post-White House deal-making included badly timed bet on Amazon aggregator
▼ + stars: | 2024-06-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +16 min

Kushner started Affinity in 2021, shortly after leaving his advisory role in the White House alongside his wife, Ivanka Trump. Neumann, who was ultimately ousted from WeWork by top SoftBank execs, introduced Kushner to Unybrands early the following year. Affinity's investment in Unybrands, which hasn't previously been reported, was one of the private equity firm's earliest deals. Following a continued slide, the company laid off roughly 10% of its staff in November 2022, according to people familiar with the matter. The House Oversight Committee launched an investigation into the investment in 2022, looking into whether Kushner's financial interests influenced Trump's foreign policy.

Persons: Jared Kushner, Alex Brandon, Kushner, Weeks, Ivanka Trump, Trump, Saudi Crown Prince Mohammed bin Salman, Jamal Khashoggi, WeWork, Adam Neumann, Neumann, Unybrands, hasn't, —, Catterton, Jason Somerville, Somerville, it's, didn't, headcount, Donald Trump, Gary Cohn, Crown Prince, Mohammed bin Salman, Jonathan Ernst, Crown Prince Mohammed bin Salman, Carolyn Maloney, Ron Wyden, Kushner didn't, Ulrich Kratz, Goldman Sachs, Kratz, Kushner's, Ian Brekke, Asad Naqvi, Bret Pearlman, Roger McNamee, Max Fink, Neumann's, Brekke, Naqvi, Pearlman, Fink, Shahar Azran, Eugen Miropolski, Robyn Laguette, Mark Goldfinger, Joe Biden, Lex, Jeff Bezos, Sam Altman, Ye, I've Organizations: U.S . Capitol, Capitol, Reuters, Affinity Partners, Companies, White House, Affinity, Saudi Crown, Unybrands, WeWork, CNBC, Amazon, BlackRock, Khosla Ventures, GW Partners, Saudi Arabia's Public Investment Fund, United Arab, Saudi Arabia's, Crown, Ritz Carlton Hotel, Saudi, Republicans, Crayhill Capital Management, Barclays, Goldman, Kushner, Investments II, Blackstone, Partners, Financial Services, CNBC it's, Israeli American Council, IAC, Getty, Kanye Locations: Washington, Amazon's, South Florida, Miami, Silicon Valley, Saudi, Saudi Arabia, Unybrands, United Arab Emirates, Qatar, Riyadh, Yemen, American, Austin , Texas, Gulf, Israel

Former President Donald Trump will address some of the world's most powerful corporate leaders on Thursday, albeit with some notable absences. So here's what we know: Out of the 17 corporate spokespeople who replied to CNBC, four said their CEOs planned to attend: JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, Bank of America CEO Brian Moynihan and Edison International CEO Pedro Pizarro. BlackRock CEO Larry Fink and Microsoft CEO Satya Nadella, for instance, will reportedly be at the G7 summit in Italy. Representatives for Woods and Bastian did not reply to questions about why their chief executives won't be attending the meeting. Fox Corp. CEO Lachlan Murdoch, Best Buy CEO Corie Barry and Boeing CEO Dave Calhoun will also not be there, spokespeople told CNBC Thursday.

Persons: Donald Trump, Bank of America Brian Moynihan, Joe Biden's, Jeff Zients, —, Jamie Dimon, Jane Fraser ,, Brian Moynihan, Pedro Pizarro, Trump, Steve Schwarzman, Goldman Sachs, David Solomon, Sara Armbruster, Darren Woods, Ed Bastian, Morgan Stanley, Ted Pick, James Gorman, Lynn Good, Solomon, Larry Fink, Satya Nadella, Woods, Bastian, Fink, Nadella, Lachlan Murdoch, Corie Barry, Dave Calhoun, spokespeople Organizations: Bank of America, White, Business, CNBC, JPMorgan Chase, Citigroup, Jane Fraser , Bank of America, Edison International, Trump, Blackstone Group, ExxonMobil, Delta Air, Duke Energy, BlackRock, Microsoft, Fox Corp Locations: Washington , DC, Trump, Italy, Washington

☆ What’s BlackRock Without Larry Fink? Shareholders Fret About Future.
▼ + stars: | 2024-05-18 | by ( Maureen Farrell | ) www.nytimes.com time to read: +1 min

Laurence D. Fink built BlackRock into the world’s largest asset manager with a steely grip, a thick skin and a cleareyed vision of what the company could become. Today, it’s a caretaker of $10.5 trillion of investor money and a provider of sophisticated trading technology, and Mr. Fink has been an informal financial adviser to many governments, including the United States. They were on investors’ minds this week at BlackRock’s annual shareholder meeting, as they listened to Mr. Fink talk about the company’s performance and voted on ballot issues. Mr. Fink, BlackRock’s chief executive and chairman, exerts an unusual level of control for someone leading a firm of its size, with nearly 20,000 employees. From writing LinkedIn posts defending BlackRock’s policies to personally finding key deals, he has put his stamp all over the company, which he co-founded in 1988.

Persons: Laurence D, Fink, it’s, Robert F, Kennedy Jr, . Fink Organizations: BlackRock Locations: United States

☆ BlackRock's COO said he gave his staff a memo written by ChatGPT and they couldn't tell AI wrote it
▼ + stars: | 2024-05-17 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewEmployees at the investment behemoth BlackRock couldn't tell that a strategy memo they were reading was actually written by ChatGPT, the company's COO said on Thursday. BlackRock COO Robert Goldstein recounted the anecdote during an interview with Fortune's Lee Clifford. Goldstein said he'd worked with his team to prepare a memo on the company's generative AI strategy for a board meeting that took place "several months ago." But instead of drafting it themselves, Goldstein decided that the team should get ChatGPT to write the memo instead. Last month, BlackRock CEO Larry Fink said in an earnings call that the company's investments in AI would bolster productivity.

Persons: —, BlackRock, ChatGPT, Robert Goldstein, Fortune's Lee Clifford, Goldstein, he'd, BlackRock didn't, Larry Fink, Fink, Kristalina Georgieva, Georgieva Organizations: Service, BlackRock, Finance, Business, BI, IMF, Swiss Institute of International Studies Locations: New York, BlackRock, Zurich

☆ Corporate America Is Going Un-Woke: Reversing DEI, Sustainability Plan
▼ + stars: | 2024-05-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

Plenty of companies are reining in their rhetoric and in some cases action on issues such as sustainability and diversity. Over the past decade, many corporations have at least professed to take a more active role in social issues, under pressure from their customers and, more importantly, employees. After last year's Bud Light debacle, which was a real blow to its business, executives fear they'll be the next target of some anti-woke outcry. For the fourth quarter of 2020, 131 companies mentioned ESG, and 34 mentioned DEI or diversity and inclusion. This may be a great un-wokening, but maybe corporate America was actually never that committed to the idea in the first place.

Persons: Paul Polman, It's, Naomi Wheeless, Eventbrite, Donald Trump, Larry Fink, George Floyd's, ESG, Andrew Jones, there's, Bud Light, influencer Dylan Mulvaney, haven't, Philip Mirvis, Bud, they'll, they'd, Jones, it's, Fink, FactSet, — we're, wasn't, Alison Taylor, University's, we've, Roe, Wade, Taylor, isn't, Dylan Mulvaney, Bud Light's, Kenneth Pucker, Emily Stewart Organizations: Unilever, Unilever wasn't, Unilever isn't, Companies, Business, Sporting Goods, Conference Board's ESG, Morningstar, Babson, AIG, Amazon, ExxonMobil, University's Stern School of Business, Anheuser, Busch, Fletcher School, Tufts University Locations: Plenty, America, ESG, New, Charlottesville

☆ Structural labor shortages in Japan could be a 'game changer': Nikko AM
▼ + stars: | 2024-05-08 | 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 EmailStructural labor shortages in Japan could be a 'game changer': Nikko AMNaomi Fink of Nikko Asset Management says household participation in Japan's domestic recovery is not likely to occur until real wages start to rise.

Persons: Naomi Fink Organizations: Nikko Asset Management Locations: Japan, Nikko

☆ Americans ditch suffocating healthcare costs and divisive politics to retire in Italy: 'It's the way they approach life'
▼ + stars: | 2024-05-05 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +10 min

Some Americans are choosing to retire abroad because of healthcare costs and divisive politics. The US is no longer a desirable place to retireThere used to be a seemingly clear-cut path to retirement in the United States. According to Fidelity's 2023 Retiree Healthcare Cost Estimate, a single individual can spend an average of $157,000 on medical expenses and healthcare throughout retirement. Gregorio, 52, is an Italian-American who founded the international social network Expats Living in Rome in 2001. It also offers a community through Facebook groups like Expats Living in Rome and Expats Living in Italy, where people can ask questions and share updates on their journeys.

Persons: —, Eric, Christina Schwendeman's, Christina, Christina Schwendeman, Larry Fink, Micki Dukinfield, Micki, Dukinfield, Schwendemans, BUSS, It's, Donald Trump, Joe Biden, Colin Esaw, Ron DeSantis, Esaw, He's, Italy Patrizia Di Gregorio, Gregorio, Patrizia Di Gregorio, Expats Organizations: Service, US State Department, Social Security, BlackRock, AARP, Business, Trump, Republican, Facebook, BI, Super America Locations: Italy, Naples , Florida, United States, Clavesana, Italy's Piedmont, America, Minnesota, Vicenza, Venice, Vincenza, Florida, Ireland, Orlando, Scalea, Calabria, Italian, American, Rome

☆ Dating a celebrity is the ultimate fantasy. A PR expert and a therapist explain if it can actually work.
▼ + stars: | 2024-05-04 | by ( Olivia Singh | ) www.businessinsider.com time to read: +11 min

But being in a relationship with a celebrity isn't all it's hyped up to be in the movies. "It's not the people in the relationship," Anderson said. AdvertisementThis persistent surveillance can be exhausting and strain a relationship, Anderson said. To work, these relationships need time out of the spotlightEven though the odds might seem stacked against a celebrity and civilian couple, these relationships aren't necessarily doomed. AdvertisementIn a public setting, Anderson said that the normal person has to accept that they'll be sidelined by their famous partner.

Persons: —, Anna Scott, William Thacker, I'm, Julia Roberts, Hugh Grant, Tad Hamilton, Solène, Anne Hathaway, Hayes Campbell, Nicholas Galitzine, Robinne, Harry Styles, Matt Damon, Luciana Barroso, Taylor Lautner's, Tay, Edward, Jon Stewart, Tracey McShane, they're, Alisha Wetherill, Clay Cockrell, who's, — Cockrell, we've, Liza Anderson, Anderson, Taylor Swift, Travis Kelce, Jennifer Lopez, Ben Affleck, Cockrell, Danny Moder, Patrick Dempsey, Jillian Fink, Keanu Reeves, Alexandra Grant, He's, Reeves, he's, It's, they'll Organizations: Service, Disney, Business, Coachella, Anderson Group Public Relations Locations: Notting, Miami, Hollywood, LA, New York

☆ Arizona Rancher Accused of Killing Migrant Won’t Be Retried After Mistrial
▼ + stars: | 2024-04-29 | by ( Jesus Jiménez | More About Jesus Jiménez | ) www.nytimes.com time to read: +1 min

Prosecutors in Arizona said on Monday that they would not retry a rancher who was charged with murdering an unarmed migrant on his property last year after a mistrial was declared last week. Judge Thomas Fink of Santa Cruz County Superior Court declared a mistrial on April 22. The Santa Cruz District Attorney’s Office said in a statement on Monday that “because of the unique circumstances and challenges surrounding” the case, Mr. Kelly would not be retried. “However, our office’s decision in this case should not be construed as a position on future cases of this type,” the office said. “Our office is mandated by statute to prosecute criminal acts, and we take that statutory mandate seriously.”

Persons: George Kelly, Gabriel Cuen, Cuen, Buitimea, Judge Thomas Fink, Kelly, “, ” Organizations: Santa, Superior Court, Attorney’s Locations: Arizona, Kino Springs, Ariz, Mexico, Santa Cruz

☆ BlackRock wants to make it easier to get paycheck-like income from your retirement savings
▼ + stars: | 2024-04-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

BlackRock , the largest asset manager, has launched a new product to help workers their retirement savings into a regular income stream that mimics the paycheck they receive during their working years. "We're talking about a revolution in retirement," BlackRock CEO Larry Fink wrote of LifePath Paycheck in his recent annual letter to investors. While they receive that income, the rest of their retirement savings may continue to grow. A recent BlackRock survey found 60% of employees worry they may outlive their retirement savings. For now, the LifePath product is limited to plans offered through employers.

Persons: Larry Fink, Anne Ackerley Organizations: BlackRock, Finance, Security, Transamerica Center, Retirement Locations: BlackRock, New York

☆ Don't ignore threats like inflation, recession, and war, warn Wall Street's biggest bosses
▼ + stars: | 2024-04-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

If the 10-year bond rate goes up 2%, every asset on the planet, including real estate, is worth 20% less. Advertisement"If things stay where they are, we have the soft landing that seems to be embedded in the marketplace, the real estate will muddle through. They won't muddle through under higher rates with a recession. That would be tough for a lot of folks, not just real estate, if that happens." Jeenah Moon / Reuters"We're in a period that comes after financial repression, where we'll have some inflation and some real rates.

Persons: —, Wall, shouldn't, Jamie Dimon, I'm, David Solomon, Goldman Sachs, Jane Fraser, Julian Restrepo, Larry Fink, Stephen Schwarzman, Ted Pick, Morgan Stanley, Jeenah, Michael Santomassimo, Wells, Alistair Borthwick, that's Organizations: Service, Wall Street's, Business, titans, JPMorgan, Citigroup, AP, BlackRock, Blackstone, Bank of America Locations: East, Ukraine

☆ BlackRock's Larry Fink thinks AI will boost wages — and productivity
▼ + stars: | 2024-04-16 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Larry Fink, CEO of BlackRock, believes AI will increase productivity and wages. His firm has increased assets while keeping head count the same which Fink credits to AI advances. Although AI optimists hope it'll raise wages, others are more skeptical and fear job displacement. AdvertisementLarry Fink, CEO of BlackRock, said on a recent earnings call that the company's investments in AI will drive up productivity and raise wages. This is how it's going to have to be done, driven through technology, which will increase productivity," he said.

Persons: Larry Fink, Fink, — Organizations: Service, BlackRock, Business Locations: America

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