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AdvertisementJPMorgan tech exec Teresa Heitsenrether talked about the bank's ongoing adoption of generative AI. And it certainly has helped with that," Heitsenrether, who is responsible for executing the bank's generative AI strategy, told a conference in New York on Thursday. AdvertisementDimon himself is a "tremendous user," she said, and is waiting for the ability to use the bank's tools on his phone. JPMorgan, America's largest bank, has now rolled out the LLM Suite, a generative AI assistant, to 200,000 of its employees. The wealth and asset management arm was the first division to use generative AI, piloting a generative AI "copilot" for its private bank this summer.
Persons: Teresa Heitsenrether, Heitsenrether, it's, Jamie Dimon, Dimon, He's, Keri Smith, What's, she'll, Sumitra Ganesh, Ganesh Organizations: JPMorgan, Accenture Locations: New York
Barack Obama was elected president, and the mood in the Republican Party picked up on the mood you’ve already described. But in the end, what he did electorally was not in that election to build the pan ethnic working class Republican Party. But at the very least, there was the conventional wisdom was that the Republican Party had to move substantially to the left on immigration. I just think that if the Republican Party is not the party of private property and wealth building, so I don’t think. Is there any chance that the Republican Party is about to not be the party of private property and wealth building No, no, I think you’re right.
Persons: I’m Ross Douthat, Donald Trump didn’t, Trump, I’ve, Reihan Salam, Reihan, George W, I’m, pry, Ross, Ross Douthat, let’s, Bill Kristol, Bush, Boomer, Giuliani, Ronald Reagan, wasn’t, Bill O’Reilly, Ross Reihan, Bush’s, Barack Obama, Obama, That’s, Mitt Romney, Paul Ryan, Ryan, Rush Limbaugh, notionally, Jeb Bush, Marco Rubio, Bill Clinton, Donald J, Let’s, it’s, It’s, , Donald Trump, Rudy Giuliani, Will, electorally, Romney, we’d, didn’t, Pat, John McCain, Frank, Kavanaugh, Trump’s, George Floyd, Biden, hadn’t, progressivism, premised, ender, New Party ”, ryan, neoliberals, Steve Bannon, Steve Moore, we’re, Moore, Bannon didn’t, COVID, JD Vance, Elon Musk, Musk, he’s, Vance, hasn’t, Clinton, Hillary Clinton, Margaret Thatcher’s, Reagan, Roosevelt, Republican policymaking, we’ve Organizations: New York, Republican Party, Manhattan Institute for Policy Research, New Party, New York Times, Harvard Institute of Politics, Harvard, The, Democratic, Great Society, Republicans, Republican, Reagan Democrats, Tribune, Trump, Perot, Tea Party, Party, Social Security, Grand New Party ”, Romney, Obama Trump voters, GOP, Amnesty, Reagan, Biden, American, America, romney, Infrastructure, Clinton Democrat, Uc Locations: Washington , DC, Northwestern, Washington ,, New York, Washington, Iraq, America, , China, American, United States, Clinton, it’s, Nevada
It is very unusual for Chinese businesspeople to take public aim at the government and those who have done so have often faced repercussions. In particular, Pinduoduo’s pricing system has done great harm to China’s brands and its industries,” he was quoted as saying by state-owned media outlet The Paper. In further remarks from the same press conference that were not widely reported by state media, Zhong singled out the Chinese government for not doing more to stop the trend. CNN has reached out to Nongfu Springs and PDD (PDD) for comment. A worker prepares to transfer packages after sorting at a warehouse for an e-commerce company in Beijing on November 11, 2024.
Persons: Hong Kong CNN —, Zhong Shanshan, Zhong, Pinduoduo, Alibaba, Jack Ma, Ma, Colin Huang, Wang Zhao, Zhong’s, Huang Organizations: Hong Kong CNN, PDD Holdings, Sina Technology, CNN, Ant Group, Alibaba, Getty, Bloomberg Locations: China, Hong Kong, Beijing, AFP
The deal includes an agreement for Anthropic to use Amazon's AI chips more. The goal of all this money is mainly to get Amazon's AI chips to be used more often to train and run large language models. It's also going to help Amazon design future Trainium chips and contribute to building out an Amazon AI model development platform called AWS Neuron. The Information reported recently that Anthropic prefers to use Nvidia GPUs, rather than Amazon AI chips. In May, Bernstein analyst Stacy Rasgon told Business Insider he wasn't aware of any companies using Amazon chips at scale.
Persons: Anthropic, It's, Dario Amodei, we've, Andy Jassy, Bernstein, Stacy Rasgon, Jassy, Amodei Organizations: Amazon, Nvidia, Business, Google, Locations: Anthropic, San Francisco
How the EV era is challenging leading engine maker Honda
  + stars: | 2024-11-22 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +3 min
Honda is the world's largest engine manufacturer, powering about 27 million cars, motorcycles, generators, yard tools, airplanes, and other items. But it is struggling in some key regions, especially China, and it's challenged by the era of electric vehicles. Honda has been relatively slow to release models, and it has depended heavily on partners to keep up. Honda does have an in-house EV plan and its own platform. It's sinking $65 billion into EVs and software globally, including $11 billion in Canada and $3.5 billion for upgrades to facilities in the United States.
Persons: it's, Karl Brauer, they'd, Jake Fisher, Honda's, Gregory Noble Organizations: Honda, Acura, Ferrari, Lamborghini, Porsche, McLaren, Consumer, U.S, General Motors, Detroit, Toyota, University of Tokyo's Institute of Social Science Locations: U.S, China, Canada, United States
The Trump trade showed its resilience this week
  + stars: | 2024-11-22 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
Small-cap stocks were one of the biggest winners on Wall Street this week, serving as a prime example that the Trump trade is alive and well after a brief pause . Small caps were not the only components of the Trump trade that had strong gains this week. According to Tom Fitzpatrick, managing director at R.J. O'Brien & Associates, all signs point toward the Trump trade staying strong. Tesla, other stock components of the Trump trade Electric vehicle stock Tesla advanced nearly 10% this week. "I believe energy still has a lot to prove and the Trump trade didn't work out as well as investors thought it supposed to over his first term."
Persons: Trump, Russell, Donald Trump, Tom Fitzpatrick, Fitzpatrick, Bitcoin, Gary Gensler, Tesla, Elon Musk, Vivek Ramaswamy, Halliburton, Jay Woods, Woods Organizations: Nasdaq, Dow Jones, Investors, Trump, Tesla, Trump Media & Technology Group, Halliburton, U.S . Steel, O'Brien & Associates, CNBC, U.S, Securities and Exchange Commission, Freedom Capital Markets . Energy
AdvertisementA bodybuilder said he stopped skipping warm-ups, and it's led to better results in the gym. Adding weights to a warm-up can lead to better performance, research suggests. A bodybuilder said a four-part warm-up with some weightlifting helps him get the most out of his workouts to build muscle and strength. AdvertisementAdams said taking even a few minutes to warm-up and working in a few sets of moderate weight can translate to better movement. Activate — priming the right muscle groups, often with bodyweight exercise.
Persons: it's, Andre Adams, Adams, I've, you'll, Igor Nasser Organizations: National Academy of Sports Medicine, International Federation of Bodybuilding pro, Business, Federal University of Rio Locations: Federal University of Rio de Janeiro
The revelations highlight the rising cyberthreats tied to geopolitics and nation-state actor rivals of the U.S., but inside the federal government, there's disagreement on how to fight back, with some advocates calling for the creation of an independent federal U.S. Cyber Force. Talent shortages, inconsistent training, and misaligned missions, are undermining CYBERCOM's capacity to respond effectively to complex cyber threats, it says. Known for his assertive national security measures, Trump's 2018 National Cyber Strategy emphasized embedding cyber capabilities across all elements of national power and focusing on cross-departmental coordination and public-private partnerships rather than creating a standalone cyber entity. Austin Berglas, a former head of the FBI's cyber program in New York who worked on consolidation efforts inside the Bureau, believes a separate cyber force could enhance U.S. capabilities by centralizing resources and priorities. "When I first took over the [FBI] cyber program … the assets were scattered," said Berglas, who is now the global head of professional services at supply chain cyber defense company BlueVoyant.
Persons: Ronald Reagan, Donald Trump, J.D, Vance, Mark Warner of Virginia, Paul Nakasone, Nakasone, Trump, Kristi Noem, Jen, John Cohen, Cohen, Austin Berglas, Berglas Organizations: Ronald Reagan Washington National Airport, Pentagon, U.S . Department of Defense, Senate Intelligence, New York Times, U.S . Cyber Force, Department of Defense, Foundation for Defense of Democracies, U.S . Cyber Command, Army, Navy, Air Force, Cyber Command, Department of Homeland Security, of Defense, of Homeland Security, Trump, Energy Department, Infrastructure Security Agency, Command, U.S, Center for Internet Security, CYBERCOM, Mission Force, Force Locations: ARLINGTON, VIRGINIA, Ronald Reagan Washington, Arlington , Virginia, China, U.S, America, Dakota, stovepipes, Russia, New York, Iran, North Korea
A lottery is being held on Monday to determine who will be the 16 people who get to witness what happens next in the case of the Menendez Brothers, who are serving life sentences for murdering their parents in 1989. The drawing will take place between 8 a.m. and 9 a.m. Pacific time, in front of the Van Nuys Courthouse West, the Superior Court of Los Angeles County said. The seats for 16 people, in a county of more than 10 million residents, will be allocated just one hour before the status hearing is set to begin at 10:30 a.m. The court occasionally holds public lotteries “when seating is limited and public interest is high,” a court spokesperson said in an email. Erik and Lyle Menendez killed their parents, Jose and Kitty Menendez, more than 35 years ago in their Beverly Hills mansion.
Persons: Menendez, Van, Erik, Lyle Menendez, Kitty Menendez Organizations: Court of, Netflix Locations: Los Angeles, Angeles County, Beverly
In an environment of high valuations, one of two "catalysts" could cause a market correction. It has a price-to-earnings ratio above 27, and some have described it as expensive by almost every measure. "We do think that a correction would be healthy, but you will need some type of catalyst for that correction to take place. [It is] still quite healthy, but it is slow, right? "If that continues to slow a bit more, if we were to see inflation tick up again, that could be a catalyst," Arcese said.
Persons: Brian Arcese, CNBC's, Arcese Organizations: Management Locations: Singapore, U.S
AdvertisementDina Winter-Robinson and her twin were homeless and constantly late for school at the age of 13. AdvertisementI suspect my 8th grade science teacher, Mrs. Falcoff, never knew what a gift she gave to me — a desperately shy teen who barely spoke at school — by making me feel heard. Related storiesEven though I admired Mrs. Falcoff, my shyness meant I hardly spoke to her. I'll never forget Mrs. FalcoffMom wrote the letter, which I gave to Mrs. Falcoff the next day. I've never forgotten Mrs. Falcoff and the important part she played in my life.
Persons: Dina Winter, Robinson, Falcoff, Gina, Auntie Marjorie, We'd, they'd, Dina, we'd, didn't, Falcoff Mom, Auntie Marjorie's, Mom, I've Organizations: New, Business Locations: New York City, Bronx, Brooklyn
Global citizenship firms said clients are especially concerned about LGBTQ+ rights and the economy. American interest in secondary passports has been on the rise over the last year — and global citizenship firms have reported another surge since President Donald Trump's reelection. AdvertisementThe firm said it saw a 392% increase in inquiries from US nationals during election week compared to the week prior. AdvertisementHe said people are concerned about Trump's promise to raise tariffs, and how that could impact the economy and the US dollar. Leading up to the 2020 election, Jafri said there was an increase in interest from his clientele's Republican contingent.
Persons: Donald Trump's, Judi Galst, Reaz Jafri, Dasein, Jafri, isn't, he's, Galst, Rose Emmett, she's, Emmett, Elizabeth Warren, they've, Galt Organizations: Global, Henley & Partners, New, CS Global Partners, Republican Locations: New York, Europe, London, United States
But with living costs pinching even high earners and the fact that more money almost always brings individuals more happiness , it's understandable that Americans say you need a substantial salary to be considered successful. While the average salary Americans say they need to be successful is high compared with what the average person is currently earning, Gen Z sets their sights even higher. The average salary adults between the ages of 18 and 27 say they need to be successful is $587,797, Empower found. That could be part of the reason they say they'd need such a high salary to feel accomplished, says Rebecca Rickert, head of communications at Empower. On average, Americans say you need a net worth of about $5.4 million to be considered successful, Empower reported.
Persons: Gen Z, Rebecca Rickert, boomers, Rickert Organizations: . Census, CNBC Locations: U.S
President-elect Donald Trump signaled Friday his intention to nominate hedge fund executive Scott Bessent as his Treasury secretary, in a move that puts a seasoned market pro and a close Trump loyalist in a critical economic position. As head of Treasury, Bessent, 62, will be both the U.S. fiscal watchdog as well as a key official to help Trump enact his ambitious economic agenda. Like Trump, Bessent favors gradual tariffs and deregulation to push American business and control inflation. The Treasury secretary is the lynchpin for the White House economic agenda. Others close to the president-elect think Bessent has not been rigorous enough in his support for tariffs, though Warsh also has made public statements against the levies.
Persons: Scott Bessent, Donald Trump, Kevin Warsh, Marc Rowan, Trump, Bessent, George Soros, Soros, Jerome Powell's, Warsh, Janet Yellen, Elon Musk, Cantor Fitzgerald, Howard Lutnick Organizations: Key, Trump, Group, Treasury, Wall, World's, Investors, Yale University, Rockefeller University, Preservation, Wall Street, Federal Reserve, Federal, National Economic Council, White Locations: Washington , DC, U.S, Bessent
Badhwar has lived in Delhi for 40 years and, despite pollution concerns, has not moved out. He told BI he values the melting pot community and family he has in the city. I've lived in Delhi my entire life — for four decades now — and I've seen it grow over the years into the melting pot that it is today. I bought my first air purifier in 2016, when people started talking more and more about the Air Quality Index (AQI). It's a melting pot, and especially after the tech boom in Gurugram, people come from all over the world.
Persons: Badhwar, Varun Badhwar, It's, I've, , purifier Organizations: Condé Nast Locations: Delhi, Condé, Condé Nast India, New Delhi, Punjab, Haryana, Canada, Gurugram
AdvertisementBarbara Corcoran says it's "disturbing" how young people are being locked out of the housing market. The "Shark Tank" investor pointed to first-time buyers getting older and losing out to cash buyers. High prices, steep mortgage rates, and fierce competition are locking young people out of becoming homeowners, Barbara Corcoran says. Plus, the median age of first-time buyers climbed from 35 to 38. Corcoran also dismissed concerns that the housing market is overheated and headed for a slump.
Persons: Barbara Corcoran, Corcoran, Trump, Sellers, , they're, Trump's Organizations: Fox Business Network, The Corcoran Group, National Association of Realtors
The interest rate outlook will come back into focus next week with key inflation data and Federal Reserve meeting minutes coming out ahead of Thanksgiving, as investors wrap up a major month for markets following President-elect Donald Trump's election victory. The October personal consumption expenditure (PCE) price index set to release Wednesday could dent already-dimming hopes for a December rate cut if it comes in hotter than expected. The inflation rate is expected to have increased 0.2% month over month and 2.3% year on year. Rosy expectations Even with the interest rate cut expectations coming in, investors are optimistic on the direction for stocks to close out the year and into 2025. Goldman Sachs' David Kostin this week said he expects the S & P 500 can end next year at 6,500.
Persons: Donald Trump's, , Luke O'Neill, Stocks, O'Neill, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Tom Hainlin, Jeff Cox Organizations: Federal Reserve, Alpha Fund, Nasdaq, Dow Jones, BMO, UBS, Bank Asset Management, Dell Technologies, Chicago, New, Richmond Fed, Devices, Autodesk, PCE Deflator, Chicago PMI Locations: U.S, Chicago
They named Planned Parenthood as something that could be targeted for cuts. Planned Parenthood is preparing to face off with Elon Musk's Department of Government Efficiency after it identified the reproductive health provider as fat to be trimmed. We fended off a number of these attacks during Trump's first term — and Planned Parenthood health centers are still there serving millions of patients across the nation." AdvertisementIn a press release, the organization said its health centers saw a surge in appointments following Trump's reelection, including a 1,200% increase in vasectomy appointments and a 760% in IUD appointments. Advertisement"Like any other healthcare provider or hospital, Planned Parenthood affiliates are reimbursed for services provided to patients at health centers.
Persons: Elon Musk, Vivek Ramaswamy, Ramaswamy, Alexis McGill Johnson, Donald Trump, McGill Johnson, We've, Trump's, Douglas Holtz, it's, Holtz, Eakin Organizations: of Government Efficiency, Elon, Elon Musk's Department, GOP, Planned Parenthood Federation of America, Congressional, Office, Management
The popularity of non-English shows has led Netflix to double down on them. In 2025, Netflix plans to release its own original Japanese historical drama. AdvertisementSeries like "Last Samurai Standing" highlight the streaming service's efforts to double down on non-English shows — especially as they gain popularity worldwide. In recent years, Netflix has also produced a stream of non-English shows. These shows are popular among the streaming giant's 282 million subscribers; in their latest engagement report, non-English shows comprised nearly a third of all viewing.
Persons: Junichi Okada, Kaata Sakamoto, Bela Bajaria, Hiroyuki Sanada, Bajaria, That's, Organizations: Netflix, Nikkei, FX, Disney, Business Locations: Japan, Nikkei Asia, Hulu
Why the U.S. is growing less food
  + stars: | 2024-11-22 | by ( Natalie Rice | ) www.cnbc.com   time to read: +3 min
Fruit production is down nearly 36% in 2024 from 2003, while vegetable production is down 6.3%, according to the USDA. Imports make up a growing share of fresh produce availability, with 60% of the total fruits and 38% of vegetables in the U.S. supplied by other countries in 2021, with Mexico as the largest supplier. The U.S. prioritizes growing commodities — like corn, soybeans, wheat and sugar. And that's a big sticking point for many small to midsize farmers growing fruits and vegetables. The 2018 farm bill extended into 2024 but expired in September.
Persons: Angela Huffman, Chip Kent, Tom Vilsack Organizations: United States Department of Agriculture, USDA, Imports, Environmental Locations: States, U.S, Mexico, Locust Grove, Milton , New York
Advertisement"Wicked," the movie, is based on "Wicked," the hit 2003 Broadway musical. Cynthia Erivo and Ariana Grande play Elphaba and Glinda, roles originated by Idina Menzel and Kristin Chenoweth. Here's what you need to know about how the movie pays homage to the musical. Jon M. Chu's "Wicked" film is a reboot of one of the longest-running Broadway shows of all time — and it pays its respects to that history through a long-rumored cameo. Idina Menzel, Cynthia Erivo, Ariana Grande, and Kristin Chenoweth posed together at the "Wicked" premiere.
Persons: Cynthia Erivo, Ariana Grande, Idina Menzel, Kristin Chenoweth, Jon M, Gregory Maguire's, Frank Baum's, Oz, Elphaba, Glinda, Menzel, Chenoweth, Glinda — Cynthia Erivo, Amy Sussman, Kristen Chenoweth, Madame Morrible, they're, — Menzel, Erivo, Grande, Cheekily, Kristin Organizations: Broadway, Emerald City, Shiz University, Entertainment Locations: Emerald, Emerald City, Erivo, Angeles
Caiaimage/Paul Bradbury | Caiaimage | Getty ImagesWhen is a dupe an appropriate gift? Alternatively, "if it seems appropriate in the situation — if it is a more light-hearted gift — you can definitely go the dupe route," she said. 'It's a dupe for a reason'While some shoppers take pride in buying dupes, roughly 86% of shoppers have been disappointed by their purchase of a dupe, CouponCabin found. Shopping secondhand this seasonConsumers should make the same value considerations when buying secondhand, which has also become more popular, even for gifting. The majority, or 83%, of shoppers are also open to receiving secondhand gifts this holiday season, the report found.
Persons: Paul Bradbury, Caiaimage, Ellyn Briggs, Melanie Lowe, Lowe, CouponCabin, Lauren Beitelspacher, it's, Beitelspacher Organizations: Morning, Babson College, Pew Research Center, Facebook Locations: dupes, U.S
CNN —A decision by the International Criminal Court to issue arrest warrants for Israeli officials was met with anger and annoyance at Jerusalem’s bustling Mahane Yehuda Market. Gil Siegal, a legal scholar at the Ono Academic College in Israel, said The Hague-based court’s decision has united Israelis. Most Israelis still support the war in Gaza, he said, seeing it as a just fight and the only means to keep their country safe. The ICC “is saying that Gallant and Netanyahu are equal to Mohammed Deif… this is something that Israelis truly cannot comprehend, truly, truly cannot comprehend,” Siegal said. “Israel’s war machine does not only destroy Gaza but also hurts Israelis – in body and in spirit,” he told CNN.
Persons: ” Sarita Katzin Sarfati, Benjamin Netanyahu, Yoav Gallant, “ Netanyahu, Bibi, ” Sarita, Netanyahu, Netanel Yehuda, , , Gil Siegal, Netanyahu –, Gallant, Mohammed Al, Masri, Mohammed Deif, Israel, ” Siegal, Yael Vias Gvirsman, Deif, Dreyfus, Alfred Dreyfus, Yair Lapid, Shurat HaDin, Behar Organizations: CNN, International, Court, Putin, Ono Academic College, ICC, Hamas, Israel Defense Forces, West Bank Locations: Mahane, Gaza, Israel, Hague, Tel Aviv, The Hague, Israeli
DON'T MISS: The ultimate guide to negotiating a higher salary If you want to have a smooth transition into a satisfying retirement life, there are many questions you can ask yourself — chief among them, "Do I have enough money saved?" Be honest: Would you say work is what you do, or who you are? Now think about the aspects of your pre-retirement self you'd like to carry over into your retirement life in some way. If you can do that honestly, you're more likely to find a satisfying retirement on the other side. Teresa received her Ph.D. in psychology from Stanford University, and she is the co-author of "Retiring: Creating a Life That Works for You."
Persons: , Irene, she'd, Victor, Jay, Teresa M, Amabile, Edsel Bryant Ford, Teresa Organizations: Harvard Business School, Edsel, Business Administration, Stanford University Locations: Cape Cod
AdvertisementBitcoin is hovering near $100,000 as Trump considers a new crypto chief for his administration. Charles Schwab's incoming CEO said he has not personally invested in crypto and prefers stocks. Schwab plans to enter spot crypto trading, pending regulatory changes under Trump's policies. "Well, I think what's holding me back is just a question around the true value of crypto," he said. Advertisement"We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change, and we're getting ready for that eventuality," Wurster said.
Persons: Charles Schwab's, Schwab, Crypto, they've, Rick Wurster, Wurster, he's, Donald Trump's, Bitcoin, Trump, I've, I'm, They've, Andreessen Horowitz, we're Organizations: Trump, Bloomberg, Biden, Fidelity Investments, Robinhood Locations: bitcoin
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