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☆ Vera C. Rubin Observatory: World’s largest digital camera will be a ‘game-changer’ for astronomy
▼ + stars: | 2024-10-23 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +11 min

CNN —On a mountaintop in northern Chile, the world’s largest digital camera is preparing to power up. The expectation is that in this way, Vera Rubin will discover about 17 billion stars and 20 billion galaxies that we’ve never seen before — and that’s only the beginning. “We’re anticipating about 10 million alerts per night coming off the telescope,” Higgs says. “The Vera Rubin Observatory will enable astronomers to map the distribution of dark matter like never before, based on how dark matter bends the path of ordinary starlight — a process known as ‘gravitational lensing,’” Kaiser explains. “After all, it was her seminal work on the detection of dark matter in spiral galaxies in the 1970s that got this pursuit going,” says Natarajan.

Persons: Vera C, —, Vera Rubin, “, Rubin, ”, Clare Higgs, Higgs, Charles Simonyi, Bill Gates, it’s, Olivier Bonin, ” Higgs, “ We’re, There’s, David Kaiser, Kaiser, ” Kaiser, Rubin Obs, Konstantin Batygin, Kate Pattle, “ Rubin, Priyamvada Organizations: CNN, Rubin, Department of Energy’s, Science, US National Science Foundation, Accelerator Laboratory, Stanford University in, Accelerator, Survey, Netflix, Massachusetts Institute of Technology, Nine, California Institute of Technology, of Physics, Astronomy, University College London, Yale University Locations: Chile, Cerro Pachón, Chilean, Santiago, Stanford University in California, California

☆ Peru ex-President Toledo convicted of bribe-taking, sentenced to 20 years in prison
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +2 min

Toledo, a 78-year-old economist who holds a doctorate from Stanford University, governed the Andean nation between 2001 and 2006. Peruvian former President Alejandro Toledo was convicted of taking bribes from Brazilian construction giant Odebrecht and sentenced to 20 years and six months in prison on Monday. During the year-long trial, Toledo denied the money-laundering and collusion charges. The sentence was announced in a room set up in a small Lima prison where Toledo has been detained since last year. Prosecutors relied on testimony from former Odebrecht executive Jorge Barata as well as Toledo's ex-collaborator Josef Maiman, who said Toledo received bribes.

Persons: Alejandro Toledo, Roberto Su, Toledo, Pedro Castillo, Pedro Pablo Kuczynski, Ollanta Humala, Jorge Barata, Josef Maiman Organizations: Stanford University, Odebrecht Locations: Lima , Peru, Brazil, Toledo, Peruvian, Lima, United States, Peru

Elon Musk’s daily $1 million lottery for registered swing state voters who sign his super PAC’s petition falls into a legal gray area and could potentially violate election law, three experts told NBC News. Paying someone to vote or to register to vote is explicitly illegal under federal law. “This is at best very questionable legally,” said Michael Morse, an assistant professor of law at the University of Pennsylvania Carey Law School. But none of the experts who spoke with NBC News believed law enforcement is likely to stop the lottery or fine Musk before the election. “You can only register to vote in Pennsylvania until today.

Persons: “, ”, John Fortier, Elon Musk, Michael Swensen, Michael Morse, ” “ I’ve, Nate Persily, it’s, Musk, Rick Hasen, Hasen, Justice Department’s, it’s “, Josh Shapiro, Morse, Trump, Kristine Fishell, Penn Organizations: Elon, NBC News, Musk’s America PAC, America PAC, American Enterprise Institute, NBC, University of Pennsylvania Carey Law School, “, Stanford Law School, Musk’s PAC, UCLA School of, Democracy, Justice, ”, ” Pennsylvania Gov, Press Sunday, Department, Justice Department, Pennsylvania, Federal, Trump, Republican, New York Times Locations: Pittsburgh, ” Pennsylvania, Pennsylvania, Michigan

☆ Robinhood's cofounder has joined the rapidly growing commercial space race, and wants to beam solar power from satellites to earth
▼ + stars: | 2024-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +9 min

Aetherflux aims to launch a constellation of satellites to transmit solar power to Earth using infrared lasers. Bhatt told BI why he's joining the commercial space race and what Robinhood taught him about capitalism. AdvertisementAetherflux aims to create a constellation of satellites in low Earth orbit (LEO) that will collect solar power and beam it down to receptors on Earth using infrared lasers. Caltech's president, Thomas F. Rosenbaum, said the project had shown them that solar power beamed from space "is still a future prospect" but that it "should be an achievable future." The science has already been demonstrated; it's just going to be an engineering and economic feat to prove it can be done from space, Bhatt said.

Persons: Baiju Bhatt, Bhatt, Robinhood, —, Vlad Tenev, Elon, Baiju Bhatt Bhatt, Thomas F, Rosenbaum, it's, he'd, you'll, Spencer Platt, Matthew Weinzierl, Weinzierl, Einstein, Aetherflux Organizations: he's, Service, California Institute of Technology, NASA, Langley Research Center, Stanford, DARPA, Investment, Space Angels, McKinsey, Harvard Business School, SpaceX, Getty, Apex, Forbes Locations: India, Anadolu, Bay

☆ These tech investors are trawling UC Berkeley to fund the next Perplexity or Databricks
▼ + stars: | 2024-10-21 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

The University of California, Berkeley, is the top producer of alumni starting tech companies. Founded by Jeremy Fiance, The House Fund targets Berkeley-affiliated startups like Databricks. Related stories"I was learning more and more about what The House Fund is from the outside in," Hargreaves said. His move from Founders Fund to The House Fund hasn't been previously reported. The House Fund said it can write checks up to $10 million.

Persons: Jeremy Fiance, Zachary Hargreaves, —, Jeremy, Aravind Srinivas, Hargreaves, it's, Fund hasn't Organizations: University of California, Fund, Berkeley, House Fund, Service, College of Computing, Data Science, Society, The, SpaceX, Founders Fund, Investors, Stanford, Massachusetts Institute of Technology, Berkeley Endowment Management Company, UC Investments, Ahoy Locations: Berkeley

☆ Black patients less likely to receive certain pain relief post-surgery, new research suggests
▼ + stars: | 2024-10-20 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +10 min

Based on previously published work, we hypothesized that Black patients would receive less multimodal analgesia than White patients, and we found that as well,” Faraday said. Having data on each patient’s self-reported level of pain – and whether there was any difference in the amount of pain among Black and White patients – would have added to the findings, Carrillo said. The researchers also found that, among those with the highest pain scores recorded, Black patients were significantly less likely to receive painkillers than White patients. Research published in 2007 in the Journal of the National Medical Association found that physicians are twice as likely to underestimate pain in Black patients compared with all other ethnicities combined. However, the data showed that White patients were twice as likely to be airlifted compared with Black patients and almost two times more likely compared with Hispanics and other races.

Persons: Nauder Faraday, ” Faraday, “, Black, Faraday, ”, Eli Carrillo, Carrillo, ” Carrillo, Brown, there’s, ” Dr, Dionne Ibekie, ” Ibekie, Dr, Sanjay Gupta, American Society of Anesthesiologists, White Organizations: CNN, American Society of Anesthesiologists, Johns Hopkins University School of Medicine, Johns Hopkins Hospital, Johns Hopkins University, Stanford Medicine, ”, Stanford, JAMA, National Medical Association, National Academy of Science, Health, CNN Health, American Society of, Nationwide Children’s Hospital, Montefiore Medical Locations: Philadelphia, Illinois, White, Ohio, New York

☆ Philip Zimbardo, psychologist who led ‘Stanford Prison Experiment,’ dead at 91
▼ + stars: | 2024-10-19 | by ( Associated Press | ) edition.cnn.com time to read: +1 min

San Francisco CNN —Philip G. Zimbardo, the psychologist behind the controversial “Stanford Prison Experiment” that was intended to examine the psychological experiences of imprisonment, has died. Stanford University announced Friday that Zimbardo died Oct. 14 at his home in San Francisco. In the 1971 prison study, Zimbardo and a team of graduate students recruited college-aged males to spend two weeks in a mock prison in the basement of a building on the Stanford campus. The experiment is now used in psychology classes to study the psychology of evil and the ethics of psychological research with human subjects, Stanford said. Zimbardo is survived by his wife, Christina Maslach Zimbardo, three children and four grandchildren.

Persons: San Francisco CNN — Philip G, Zimbardo, –, Stanford, Christina Maslach Zimbardo Organizations: San Francisco CNN, Stanford, Stanford University Locations: San, San Francisco

☆ Here's how much remote workers say it would cost to get them back into the office
▼ + stars: | 2024-10-19 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Workers value remote work as much as a 7% to 8% pay increase, a new survey finds. Teleworking has increased, even as firms try to pull their workers back into the office. The push and pull between workers, their employers, and the office has been a years-long battle in the wake of the pandemic. And a new survey update shows how much remote workers value the ability to work from home — and what it may cost for firms to lure them back in. Remote jobs are becoming scarcer, and that's even led some workers to cling to roles they might not otherwise enjoy.

Persons: —, Nicholas Bloom, Bloom Organizations: Service, Stanford University, Labor Statistics

☆ Before buying a home, check this hidden financial risk
▼ + stars: | 2024-10-19 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

The climate crisis is an often-hidden financial risk when buying a house. AdvertisementThat's why it's important to take stock of the climate risks your home faces in the coming decades. Remember those estimates aren't a crystal ballClimate-science experts outside the company have some reservations about First Street's flood and wildfire estimates, though. Heatmap reported that First Street probably underestimates wildfire risk in wildfire-prone areas and that flood risk is very difficult to accurately model. You can try to cross-check flood risk with other sources like seeing if the town or city has flood maps available.

Persons: you'll, Jeff Gritchen, Jeremy Porter, Michael Wara, Heatmap, Porter, Marta Lavandier, that's, It's, Leslie Chapman, Henderson Organizations: Service, Coronado Pointe, MediaNews, Orange, Getty, Stanford Woods Institute for, Heatmap, AP, Federal Alliance, Safe Homes, Federal Emergency Management Agency Locations: Coronado, Laguna Niguel , California, Florida, California, Hurricane Milton

☆ Change the power dynamic in any room with one strategy, says communication expert—it'll make you influential at work
▼ + stars: | 2024-10-18 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

You have to use the strategy in moderation, and earnestly, for it to be effective, says Abrahams: "People can smell humblebrags." Think about your responsesThoughtfully responding to questions and compliments is an easy way to display humility, according to Abrahams. "When I say, 'I'm still working on my communication skills,' I'm really trying to take pressure off the other person and show that we're in this together," says Abrahams. Avoid being self-deprecating, or your colleagues will feel like you're fishing for compliments, he adds. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Matt Abrahams, Abrahams, Charlene Li, I'm, Andy Jassy, Jeff Bezos, Jassy, Bezos, you've, it's Organizations: Stanford University, CNBC, Duke University, Amazon

☆ I lived in 5 different US states. None of them had what I was looking for, so I moved my family to Finland, and I have no regrets.
▼ + stars: | 2024-10-18 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +8 min

I'm a Gen X child from the San Francisco Bay Area. Since that first move, I've lived in Alabama, Virginia, and Texas and returned to the Bay Area. The main difference was that the Bay Area was more diverse than Phoenix at that time. The Bay Area had changed so muchWe moved to Half Moon Bay in the San Francisco Bay Area, and in 2017, I got a job at UC Berkeley. People moved in and out of the Bay Area a lot, so it was hard to make lasting social connections.

Persons: Rosanna Guadagno, Guadagno, —, I've, I'd, Dallas, didn't, we'd Organizations: Service, San, Santa Clara University, US, University of Alabama, Alabama, National Science Foundation, University of Texas, Dallas, Big Tech, San Francisco Bay Area, UC Berkeley, Stanford, University of Oulu Locations: California, Alabama, Texas, Finland, San Francisco Bay Area, Phoenix, Alabama , Virginia, Bay, Arizona, Tuscaloosa, . Texas, Virginia, Washington ,, Dallas, Austin, Silicon Valley, San Francisco Bay, Oulu, Switzerland

☆ Wall Street is trying to make AI search sexy
▼ + stars: | 2024-10-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

Finance firms and fintech startups are trying to use generative AI to improve search capabilities. Perfecting search, down the line, could lead to more automation and more complex generative AI tools. It has already onboarded some-25 Wall Street firms onto its generative AI platform. AdvertisementMeanwhile, two Stanford grads came together to build Mako, a generative AI associate for the private-equity industry. The search tool is the bank's second such generative AI tool, the first being a generative AI developer co-pilot that helps software engineers code more efficiently.

Persons: Goldman Sachs, Blackstone, —, Goldman hoovered, Neema Raphael, Raphael, it's, Morgan Stanley's, Keri Smith, Smith, Jeff McMillan, Gabe Stengel, Stanford grads, It's, Peter Anderson, Familiarizing, Goldman Organizations: Service, Bloomberg, Nasdaq, Goldman, Blackstone, Google, Bank of America's, Accenture, Stanford, Balyasny Asset Management Locations: Wall, OpenAI

☆ Why some families will pay $500,000 for Ivy League admissions consulting: 'It’s worth the investment'
▼ + stars: | 2024-10-18 | by ( Jessica Dickler | ) www.cnbc.com time to read: +7 min

Loop Images | Getty ImagesAt the nation's top schools, including many in the Ivy League, acceptance rates hover near all-time lows. For those willing to pay for a four-year, private college, it should be worthwhile, the sentiment often goes. To get into this elite group of schools, many families look for outside help to get a leg up. The vast majority of students come from New York City private schools with household incomes over $1,500,000 according to Howell's account. However, the wealthiest students hailing form the country's top private schools are primarily competing amongst themselves as schools look to build a diversified class.

Persons: Thomas Howell, Howell, Ivy League — Brown, Hafeez Lakhani, Lakhani, they've, Christopher Rim, Covid, — Organizations: Ivy League, Princeton University, Forum Education, Cornell, Dartmouth, Harvard, University of Pennsylvania, Yale, University of Chicago, Massachusetts Institute of Technology, Stanford, Finance, Navy, Command, Rim, Command Education, Test, Christopher, Education, National Association for College, Counseling, National Bureau of Economic Research Locations: York, Columbia, Princeton, Duke, New York, New York City

☆ I'm a VC, and I hired my first staff after he offered to set up payroll for free. He showed me just how far people are willing to go for a VC job.
▼ + stars: | 2024-10-17 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Nichole Wischoff screened over 500 applications before making her first hire for her VC fund. AdvertisementThis as-told-to essay is based on a conversation with Nichole Wischoff, 34, founder of Wischoff Ventures. Business Insider previously published an essay about her first recruit at Wischoff Ventures, Neal Mintz, and his hiring experience. I spent most of my career working at startups and had to brute-force my way to starting Wischoff Ventures from scratch. Screening through 500 applications to find the perfect hireI started recruiting for my fund's first full-time hire earlier this year.

Persons: Nichole Wischoff, Wischoff, Neal Mintz, Mintz, —, Neal, Nichole Wischoff's, you've, Don't, you'd Organizations: Service, Wischoff Ventures, Venture, Stanford Locations: San Francisco, New York

☆ If your Apple Watch alerts you to sleep apnea, here’s what it means and what to do next
▼ + stars: | 2024-10-17 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

CNN —Already multitool smart devices, Apple Watches added another buzzworthy feature last month: an app to detect sleep apnea. The sleep apnea notification is available on the latest Series 10 Apple Watches and some older models after a software update. In order to detect sleep apnea, the watch measures breathing disturbances during sleep over 30 days. But the US Food and Drug Administration approved marketing of the sleep apnea feature on Apple Watches in mid-September. The Apple Watch has a few of these capabilities, but the company did not factor them into the sleep apnea feature.

Persons: It’s, ”, Robson Capasso, ” Capasso, Erring, Apple, Jing Wang, Wang, ” Wang, Eric Topol, –, ” Topol, Capasso, Dr, Sanjay Gupta, they’re Organizations: CNN, Apple, Stanford University School of Medicine, Food and Drug Administration, Apple Watch, Scripps, Research, Get CNN, CNN Health Locations: Sinai

The parents of a Massachusetts high school senior are suing his teacher, school district faculty members and a local school committee for punishments he received after he used artificial intelligence tools to research and create an outline for a history class essay. The lawsuit is one of the first of its kind in contesting school discipline over the use of AI to complete academic work. The complaint said the school’s AI policy was added to the Hingham High School student handbook only the year after the plaintiff’s son was punished. “It’s underregulated, especially in a school setting,” Peter Farrell, the family’s lawyer, said about AI in a phone interview. “AI is an output from a machine.”The student’s school district, Hingham Public Schools, said it was unable to provide further details during ongoing litigation and to respect the student’s privacy.

Persons: “ It’s, ” Peter Farrell, ”, ” Farrell, Farrell, Kareem Abdul, Jabbar, Dale, Jennifer Harris, He’s, ” Adam Nguyen, Ivy Link, Nguyen, Stanford Organizations: Ivy League, National Honor Society, Hingham High School, Hingham Public Schools, Stanford University, ACT, AP U.S, Artificial Intelligence, Ivy, Harvard Law School Locations: Massachusetts, Hingham

☆ Elon Musk's SpaceX sues California commission who blocked launches, accusing it of 'unconstitutional overreach'
▼ + stars: | 2024-10-16 | by ( Natalie Musumeci | Geoff Weiss | ) www.businessinsider.com time to read: +6 min

SpaceX has sued the California Coastal Commission. Legal experts said Musk will need to prove the commission would have granted the flights, if not for Musk's politics. In the lawsuit, filed in the US District Court for the Central District of California, Musk's SpaceX accused the commission of '"unconstitutional overreach" after members criticized his political leanings during a meeting about whether to approve more frequent SpaceX launches off the California coastline. "But if a court concludes that it's more likely than not that the result would have been different but for Musk's speech, then there would be a violation," said Volokh. AdvertisementNeither SpaceX nor the California Coastal Commission immediately responded to requests for comment from Business Insider.

Persons: —, Elon Musk, Gretchen Newsom, Musk, Caryl Hart, Eugene Volokh, David Driesen, Driesen, Volokh, Sarah Kreps, Kreps Organizations: SpaceX, California Coastal Commission, Service, Court, Central, Central District of, US Space Force, Vandenberg Space Force, UCLA, Hoover Institution, Stanford University, Syracuse University, Tech, Institute, Cornell University, California Coastal, Business Locations: California, Central District, Central District of California

☆ CEO of aerospace company cited in SpaceX's new lawsuit is siding with Elon Musk
▼ + stars: | 2024-10-16 | by ( Geoff Weiss | Natalie Musumeci | ) www.businessinsider.com time to read: +6 min

SpaceX compared itself to another space company in its lawsuit against a California agency. Phantom Space CEO Jim Cantrell, a longtime colleague of Elon Musk, supports SpaceX. AdvertisementCantrell told BI that the company got approval for 12 launches at a separate Space Launch Complex at the base. The space rocket company says in the lawsuit that the commission was trying to "unlawfully regulate space launch programs" at Vandenberg military base. Driesen pointed out that SpaceX's lawsuit emphasizes an administrative law claim that federal law prohibits the commission from interfering in the company's launch plan.

Persons: Jim Cantrell, Elon, —, Elon Musk, Vandenberg, Cantrell, Eugene Volokh, Volokh, David Driesen, Musk, Driesen Organizations: SpaceX, Phantom, Service, California Coastal Commission, Vandenberg Space Force Base, Business, United States Space Force, Vandenberg, FAA, Elon, California Coastal, UCLA, Hoover Institution, Stanford University, Syracuse University Locations: California

☆ Parents sue their son's school for punishing his AI use, heralding a messy future
▼ + stars: | 2024-10-16 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +5 min

Parents in Massachusetts are suing a school over their son being punished for using AI. AdvertisementThe parents of a Massachusetts teenager are suing his high school, claiming their son was unfairly punished for using AI, as educators grapple with how to handle the widespread use of AI. AdvertisementJennifer and Dale Harris filed the lawsuit last month against Hingham High School, its administrators, and the school district, in which they alleged the defendants imposed "arbitrary and capricious" discipline on their child. Harris said that she would like to see the school "put in place an AI policy that makes sense." Matthew Sag, a professor of law in AI, machine learning, and data science at Emory University Law School, told BI that the school handbook's outlined policy is "hopelessly vague and unfair."

Persons: —, they'd, Ryan Abbott, Jennifer, Dale Harris, Jennifer Harris, WCVB, WCBV, Harris, Matthew Sag, Sag, John Zerilli, Peter Farrell Organizations: Service, Study.com, University of Surrey, Hingham High School, National Honor Society, ACT, Stanford University, Stanford, Business, Artificial Intelligence, Emory University Law School, University of Edinburgh, Oxford Institute for Locations: Massachusetts, Hingham

☆ Fed Governor Waller says 'more caution' needed on rate cuts after data showing a hot economy
▼ + stars: | 2024-10-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Fed Governor Christopher Waller says recent data shows the Fed should ease more cautiously. The Fed cut rates by a50-basis points last month and is expected to make a smaller cut next month. AdvertisementWaller said recent data, though, shows an economy that's still hot. He pointed to recent data on employment, inflation, income and gross domestic product. Waller said he will be watching closely for any further data that shows the Fed should ease less aggressively.

Persons: Christopher Waller, Waller, —, Waller's Organizations: Service, Stanford University, Fed

☆ Fed Governor Waller sees need for 'more caution' ahead when lowering interest rates
▼ + stars: | 2024-10-14 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

Federal Reserve Governor Christopher Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September as he expressed concern that the economy could still be running at a hotter-than-desired pace. The Federal Open Market Committee at its September meeting took the unusual step of lowering its baseline interest rate by a half percentage point, or 50 basis points, to a target range of 4.75%-5.0%. Along with the cut, officials indicated the likelihood of another half point lopped off in the final two meetings of 2024, along with another full percentage point of cuts in 2025. In the final revision for second-quarter growth, the Commerce Department also punched up the level of gross domestic income gain to 3.4%, an adjustment of 2.1 percentage points from the previous estimate and closer in line with GDP. “These revisions suggest that the economy is much stronger than previously thought, with little indication of a major slowdown in economic activity,” Waller said.

Persons: Christopher Waller, ” Waller, Waller, ” Organizations: Federal, Stanford University, The, Fed, Commerce Department

☆ Stock market today: S&P 500 hits another record close as rally presses on amid earnings
▼ + stars: | 2024-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks hit record highs on Monday as investors get ready for a wave of earnings reports. Over 80 S&P 500 companies, including Netflix and Goldman Sachs, report earnings this week. Monday's close marked the S&P 500's 46th record close of the year, as investors continue to power the two-year-old bull market higher. More than 80 S&P 500 companies are scheduled to report third-quarter earnings results this week, with major names like Netflix, Goldman Sachs, and Morgan Stanley on deck. According to data from Fundstrat, 6% of S&P 500 companies have already reported their results.

Persons: Goldman Sachs, Fed Governor Waller, —, Monday's, Morgan Stanley, Adriana Kugler, Christopher Waller, Waller Organizations: Netflix, Fed, Service, Dow Jones, Dow, Federal, Stanford University's Hoover Institution Locations: Fundstrat, Here's

☆ Ratan Tata, who put India’s Tata Group on the global map, dies at 86
▼ + stars: | 2024-10-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. Ratan Tata "was a visionary business leader, a compassionate soul and an extraordinary human being," Indian Prime Minister Narendra Modi said on social media platform X. He founded telecommunications firm Tata Teleservices in 1996 and took IT firm Tata Consultancy Services, the group's cash cow, public in 2004. Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion. The Tata Group said Mistry had failed to turnaround poorly performing businesses while Mistry accused Ratan Tata, who was chairman emeritus of the conglomerate, of interfering and creating an alternate power center at the group.

Persons: Ratan Tata, Ratan, Narendra Modi, Telco, J.R.D, Tata, Tata Teleservices, Tetley, Ratan Tata's, Cyrus Mistry, Shapoorji Pallonji, Mistry, Ola Organizations: Tata Group, Ratan Naval Tata, Cornell University, Tata, Tata Motors Ltd, Tata Steel Ltd, National Radio & Electronics Company, Tata Consultancy Services, Stanford Graduate School of Business, Corus, Tata Motors, Rover, Ford Motor Co, India —, Tata Sons, Urban Company Locations: India, Dutch, Indian

☆ My homeowner nightmare
▼ + stars: | 2024-10-10 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +11 min

The moment I saw I had an email from my solar company, I knew my nightmare was about to take another unsettling turn. But he didn't know any more than I did about how much longer my solar panels would remain useless. Meanwhile, my solar panels have been sitting on my roof for four months, entirely unused, taunting me from above. AdvertisementI also reached out to California's Contractors State License Board, which regulates solar companies, asking what recourse SunPower's customers had. But it seems ludicrous to buy a solar system that I had no intention of buying in the first place.

Persons: I'd, SunPower, it's, —, Severin Borenstein, Ernst & Young, Gordon Johnson, Johnson, Forbes, David F, Larcker, Brian Tayan, Pavel Molchanov, Raymond James, There's, haven't, I'm, Vishal Persaud Organizations: Pacific Gas and, Berkeley's Haas School of Business, Nasdaq, GLJ Research, Stock, Industry, Sun Solar, California's Contractors, Board, Business Locations: Fresno , California, New York City, California, America, Fresno, —

☆ TD Bank hit with record $3 billion fine over drug cartel money laundering, source says
▼ + stars: | 2024-10-10 | by ( Jordan Valinsky | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —TD Bank will pay $3 billion to settle charges that it failed to properly monitor money laundering by drug cartels, regulators announced Thursday. TD also intends to pay $1.8 billion to the US Justice Department and plead guilty to resolve the US government’s investigation that the bank violated of the Bank Secrecy Act and allowed money laundering. The US Department of Justice said in a statement that TD Bank had “long-term, pervasive, and systemic deficiencies” in its procedures of monitoring transactions. TD Bank declined to comment on the fine, but the bank plans to hold a call with investors later on Thursday. TD Bank’s (TD) US-listed shares slumped 5% as investors brace for higher legal expenses and weaker growth.

Persons: FinCEN, TD Bank’s, ” John Aiken, “, Allen Stanford Organizations: New, New York CNN —, Bank, US Treasury Department’s, US Justice Department, US Department of Justice, Street Journal, TD Bank, Jefferies, ”, Justice, Treasury, CNN Locations: New York

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