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FILE PHOTO-The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy August 16, 2018. Like peers, Monte dei Paschi (MPS) reaped the benefits of higher rates which have allowed banks to charge more for loans while what they pay out on deposits lags. To fund the voluntary staff exits by sending people into early retirement, Lovaglio oversaw a 2.5 billion euro ($2.7 billion) capital raise in tough markets last November. Shares in MPS traded 3.5% higher by late morning at 2.568 euros each. Core revenues jumped 10% on a quarterly basis to 941 million euros, leapfrogging expectations, with net interest income nearly doubling from last year and up 15% from the first quarter.
Persons: Max Rossi, Siena, Monte, Luigi Lovaglio, Lovaglio, Andrea Orcel, Valentina Za, Alvise Armellini, Keith Weir Organizations: REUTERS, STATE, MPS, Bankers, Thomson Locations: dei, Siena, Rome, Italy, MILAN
This week, the British coming-of-age drama “Heartstopper” returned to laptop screens all over the world. The first season of this fizzy, feel-good show amassed 24 million hours of views in its first week, according to Netflix, and received glowing reviews from critics. In “Heartstopper,” Charlie is outed as gay in eighth grade; Sahota, who identifies as pansexual, was also outed at school around the same age. “It wasn’t a pleasant experience,” she said, adding that seeing a similar ordeal depicted in “Heartstopper” has helped her feel less alone. “If they can get through it, and they’re living happily, so can I,” she said.
Persons: Heartstopper ”, Alice Oseman’s, Joe Locke, Nick, Kit Connor, Yasmin Finney, Tara, Corinna Brown, Darcy, Kizzy, “ It’s, , Sharan Sahota, Heartstopper, Charlie Organizations: Netflix Locations: British
How to Find Wedding Vendors That Celebrate Inclusion
  + stars: | 2023-08-04 | by ( Sadiba Hasan | ) www.nytimes.com   time to read: +1 min
Jove Meyer didn’t think he would become an activist when he started his career as a wedding planner 15 years ago. “I was like, ‘What is going on?’” said Mr. Meyer, who is based in Brooklyn. I was planning weddings — something that I myself couldn’t participate in.” Mr. Meyer, who is gay, was unable to marry at the time because same-sex unions were not yet legal nationwide. Since then, he has been advocating inclusivity in the wedding industry at events and on broadcast shows, pushing for wedding vendors to be more welcoming to all couples. rights and discrimination, Mr. Meyer said, many queer couples are conducting research in order to find inclusive vendors.
Persons: Jove Meyer didn’t, “ You’re, , ’ ”, Meyer, ” Mr Locations: New York, Brooklyn
There are a lot of things Sheryl Sandberg wishes she could tell her 20-year-old self. But she'd start with this: Don't be afraid to speak up at work. Sandberg left Meta in August 2022 after 14 years at the company. Sandberg's tech career didn't take off until 2001 when she joined Google as general manager of its business unit. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.
Persons: Sheryl Sandberg, Sandberg, Zuckerberg, didn't, Meta, We've, Warren Buffett, Organizations: Meta, LeanIn.org, CNBC, Harvard University, World Bank, Harvard, McKinsey & Co, Google, Lean Locations: Airbnb
AAPL YTD mountain Apple stock was trading lower after quarterly results. Apple doesn't provide official forward guidance and has not done so since 2020 over macroeconomic uncertainty. Morgan Stanley's Erik Woodring reiterated an overweight rating on Apple but lowered his price target to $215 from $220. Bank of America's Wamsi Mohan remained neutral on Apple, accompanied by a $210 price target that equates to roughly 10% upside. Rakers maintained an overweight rating on Apple stock with a $225 price target, or about 18% upside from Thursday.
Persons: Apple, Luca Maestri didn't, Apple doesn't, Morgan Stanley's Erik Woodring, Woodring, Morgan Stanley, America's Wamsi Mohan, Mohan, Citi's Atif Malik, Malik, Wells, Aaron Rakers, JPMorgan's Samik Chatterjee, Chatterjee, Goldman Sachs, Michael Ng, Apple's, Ng, — CNBC's Michael Bloom Organizations: Apple, America's
Some AI models that compete against Stack Overflow were partly trained on the company's data. Online communities, like Stack Overflow and Wikipedia, thrived as hubs for experts and curious browsers to come together and share information freely. In 2021, Prosus, a major backer of Chinese tech giant Tencent, bought Stack Overflow for $1.8 billion. However, Nat Friedman, the CEO of Github through 2021, expects tech companies to pay for training data in the future. Stack Overflow is also working on new ways to measure the impact of a human's answer on the platform.
Persons: Prashanth Chandrasekar, OpenAI, Chandrasekar, coders, OpenAI's GPT, Stack, Elon Musk, Andreessen Horowitz, Sam Altman, JASON REDMOND, Jaap Arriens, GitHub, it's, chatGPT, Nasim Uddin, we're, Nat Friedman, Nat Friedman GitHub Friedman, Friedman, Axel Springer, Semafor, Prashanth Organizations: Union Square Ventures, Getty, Twitter, Publishers, Microsoft, Associated Press Locations: GPT, Prosus, AFP
Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.
Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays Locations: Apple's, Tuesday's, Asia
“In Lisbon, I would like to see a seed for the world’s future,” Francis, 86, said in video remarks to young people ahead of World Youth Day, which he first attended in Brazil at the start of his papacy 10 years ago. The church, he warned, could not be a “club” for the elderly. The meeting will also be attended by more than 700 bishops and 20 cardinals, and comes as Portugal grapples with an exploding clerical sex abuse crisis. Francis is also preparing for a major meeting of the world’s bishops — and for the first time women and laypeople — to tackle divisive issues like the role of women and L.G.B.T.Q. Catholics in the church.
Persons: Pope Francis, , ” Francis, Francis ’, Francis, Organizations: Roman Catholic Church, Locations: Portugal, Lisbon, Brazil
Several analysts remain bullish, hiking their price targets in the weeks leading up to Apple's earnings report — despite the stock's 50% runup so far this year. His $220 price target suggests the stock can rally more than 12% from Tuesday's close. Bank of America remains neutral on the stock, but boosted its price target to $210 on July 19. His price target of $149 suggests nearly 24% downside. Her price target of $190 suggests roughly 3% downside from Tuesday's close.
Persons: Samik Chatterjee, Chatterjee, Morgan Stanley, Erik Woodring, Goldman Sachs, Michael Ng, Apple, Wamsi Mohan, Mohan, Tim Long, Grace Chen, Chen, Piper Sandler, TD Cowen, Baird, — CNBC's Michael Bloom, Kif Leswing Organizations: Apple, JPMorgan, Services, Bank of America, Barclays, UBS Locations: Apple's, Tuesday's, Asia
Jan Dvorkin had raised and nurtured his adopted son in Moscow for seven years until, one day in May, the Russian authorities notified him they were revoking custody. A woman Mr. Dvorkin knew had filed an official complaint, saying that because he was transgender and gay, he was an unfit parent. When Mr. Dvorkin asked the woman why she had reported him, she told him he had brought it on himself, and “that I could have easily avoided it by staying in the closet.”He managed to find another family to take the boy, who is deaf, so that the child would not be sent to an orphanage. Mr. Dvorkin’s experience underscores the increasingly repressive treatment gay and transgender people are subjected to across Russia — a hardship that seems certain to grow as the government leverages the war in Ukraine as justification for greater restrictions on L.G.B.T.Q.
Persons: Jan Dvorkin, Dvorkin Locations: Moscow, Russia, Ukraine
Opinion | The Radicalization of the Young Right
  + stars: | 2023-07-31 | by ( Michelle Goldberg | ) www.nytimes.com   time to read: +2 min
When Sitman condemned the right’s cruelty toward trans people, Hochman conceded some of his points. “Do I love the way that some people on the right talk about sensitive culture issues surrounding stuff like transgenderism always? “Could we use more empathy and humility in the way that we approach these questions? Absolutely.”In March, Hochman went to work for Ron DeSantis, who at the time still looked like the most viable standard-bearer for a post-Trump Republican Party. But whatever his motives, his trajectory from conservative intellectual wunderkind to disgraced troll tells us quite a bit about the culture of the young right.
Persons: , Nate Hochman, Sam Adler, Bell, Hochman, who’d, Matthew Sitman, Adler, Bell’s, Sitman, , Ron DeSantis, Axios, he’d, — Hochman, callow, wunderkind Organizations: National, New York Times, Trump Republican Party, Florida City Locations: Nazi
Mark Zuckerberg called it "ridiculous" to connect a new name to ongoing "Facebook Papers" coverage. Cox said the name change was successful, explaining his measure of success was the amount of press coverage of the name change compared to the whistleblower disclosures. "It was more than double the volume of the Facebook Papers coverage," Cox said on the call. "And it was a really big deal because Facebook Papers was a big story, especially inside the US." Are you a Meta employee or someone else with insight to share?
Persons: Meta's, Mark Zuckerberg, Chris Cox, revel, Frances Haugen, Cox, Sheryl Sandberg, Eric Schiffer, Kali Hays Organizations: Facebook, Morning, Meta, Wall Street Journal, Twitter Locations: khays
Gross domestic product (GDP) contracted by 0.3% on a quarterly basis between April and June and was up 0.6% year-on-year, national statistics bureau ISTAT said. ISTAT gave no numerical sector breakdown of its preliminary second-quarter GDP estimate, but said industry and agriculture output decreased whereas services grew marginally. The 0.3% contraction left Italy with so-called "carryover" growth of 0.8% this year, assuming GDP would be flat in the remaining two quarters. "Italy is an advanced industrial country and the weakness in industry is much more important than the tourism sector for the economy's health," said Lorenzo Codogno, head of LC Macro Advisors and former chief economist at Italy's Treasury. ISTAT also said annual inflation slowed to 6.4% in July from 6.7% in June, on a EU-harmonised consumer prices.
Persons: Giorgia Meloni, Franziska Palmas, Intesa, Lorenzo Codogno, Alvise Armellini, Elvira Pollina, Sharon Singleton, Alistair Bell Organizations: Gross, Reuters, Capital Economics, ISTAT, LC Macro Advisors, Italy's Treasury, Thomson Locations: ROME, Italy, Rome, Milan
Morning Bid: Beijing stimulus given benefit of the doubt
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +3 min
Yet that merely stoked wagers Beijing would have to dole up sizable stimulus at some point or risk social unrest, particularly with youth unemployment rising. So far, domestic investors seem to be giving Beijing the benefit of the doubt - foreign funds have been shunning Chinese stocks for a while. Any rise in Japan's paltry yields should, theoretically, be a plus for the yen and a negative for yen-funded carry trades. This in part reflects the still huge gulf between Japan rates and emerging markets and the fact that many carry trades are funded at one month rates and rolled over. Right now, investors can still borrow yen for one month at -0.1% to buy pesos and earn 11.1%.
Persons: Wayne Cole, China's, it's, That's, Austan Goolsbee, Sam Holmes Organizations: Beijing, Nikkei, Bank of Japan, Federal Reserve Bank of Chicago, Western Digital Corp, Aercap, Thomson Locations: Wayne, Beijing, Asia, Pacific, Japan, Chicago
The startup aims to develop a more affordable at-home alternative to IVF. A startup that has created an at-home fertility treatment device for consumers has just secured $3.2 million from Octopus Ventures. "A lot of options are out of alignment — so we've opened the fertility pathway and created a treatment that's more affordable." The startup is offering a medical device and treatment kit that delivers ICI. The startup is gearing up to launch a pilot program with the UK's National Health Service and enroll its users in a fertility treatment study.
Persons: Tess Cosad, we've, It's Organizations: Octopus Ventures, ICI, UK's National Institute of Health, National Health Service, UK, Vira Health, Forward Partners, Q Ventures, NHS Locations: COVID, Vira, JamJar
So?,” by Jane Coaston (Opinion, July 24):Ms. Coaston’s report reveals both a fearsome and an exciting new world for the L.G.B.T. This world could not be more different than most older gay Americans’ experience growing up. I recall the very day and hour, at age 6, that I knew I was gay, although I wouldn’t know what that meant for many years. Boys are cool!”Seeing another gay person, or hearing any speck of validation for gay people, would seemingly never come to me in my more-conservative-than-Mississippi community in South Jersey. But we are a community now with many, many straight allies, and no matter what the Marjorie Taylor Greenes of the world have to say about it, we are never going back to the closet darkness.
Persons: Jane Coaston, Coaston’s, speck, Marjorie Taylor Greenes Locations: Mississippi, South Jersey
The strange, improbable rise of Mark Zuckerberg 3.0
  + stars: | 2023-07-30 | by ( Kali Hays | ) www.businessinsider.com   time to read: +27 min
In early July, Mark Zuckerberg unveiled the latest and perhaps most consequential product in Meta's history: a new model of Mark Zuckerberg. Silicon Valley Zuck was a husband and father with a legacy to build and protect at all costs. Silicon Valley Zuck was suddenly faced with something he'd never dealt with before, shrinking revenue. Still clinging to his persona as Silicon Valley Zuck, Zuckerberg engaged in an all-out media blitz to hawk his vision for the metaverse. They were the sort of people Harvard Zuck would have scoffed at and Silicon Valley Zuck would have gently ignored.
Persons: Mark Zuckerberg, Elon Musk, Joe Rogan, Zuckerberg, Clark Kent, TikTok, Sheryl Sandberg, Mike Schroepfer, Wall, McKinsey Zuck, Rogan, Meta, Harvard Zuck, , Priscilla Chan, Ray's, pullover, Harvard Zuck —, Dianna, Mick, McDougall, Paul Sakuma, Zuckerberg's, Apple, Facebook, he'd, That's, Frances Haugen, Chris Cox, Zuck, Zach Gibson, Meta's, Sandberg, Marne Levine, who'd, Javier Olivan, he's, bode, Bain, Maher Saba, Lori Goler, He's, He'd, Katie Harbath, it's, Andrew Bosworth, Bosworth, Mark Zuckerberg McKinsey Zuck, Mark Shmulik, Bernstein, Augustus, Julius Caesar, Kali Hays Organizations: Meta, Menlo, Harvard, Apple, McKinsey, Business, Facebook, Cambridge, Capitol, Labs, Menlo Park, Q, Bain & Company, Reality Labs, Wall, Mark Zuckerberg McKinsey, Phillips Exeter Academy, Tech, Twitter Locations: California, Hawaii, United States, Davos, Silicon, contrition, Meta, verbiage, Harvard, Rome
GPS, or the Global Positioning System, is the oldest and most widely used satellite navigation system in the world with 6 billion users. But the U.S. is not the only country with its own global navigation satellite system. The latest entrant is China's Beidou constellation. But experts say China's Beidou system is about more than just military might. To find out more about China's Beidou satellite navigation system, what implications it may have for the world, and how the U.S. is working to bolster its own GPS constellation, watch the video.
Persons: Mikie Sherill, Galileo, Sarah Sewall, Sewall Organizations: GPS, U.S, Space Force, U.S . Air Force, House GPS Caucus, European Union, Galileo, State, Civilian Security, Human Locations: U.S, Russia, China, Taiwan
Aston Martin Wants to Win and to Sell Cars, Too
  + stars: | 2023-07-28 | by ( Lawrence Ulrich | ) www.nytimes.com   time to read: +1 min
Auto racing has helped sell products from Budweiser to Viagra, motor oil to Martini & Rossi, and seemingly every gasoline and cigarette brand. Now, with Formula 1 making huge inroads in the United States — supercharged by the hit Netflix documentary series “Drive to Survive” — we’ll see if it can sell Aston Martins. A “Drive to Survive” camera crew trailed behind Stroll, whose son, Lance, drives one of the team’s cars that are punching above their weight. The next trick for his father is to reverse the brand’s serially shaky fortunes and get out of Ferrari’s shadow with wealthy buyers. Outside the fancy showroom, framed by one of the largest plate-glass windows in New York City, passers-by wear out smartphones taking photos of a Valkyrie AMR Pro inside, a goblin-green alien at rest.
Persons: Rossi, Lawrence, Aston Martin Organizations: Budweiser, Martini, Formula, Netflix, Aston Martins, Aston, Aston Martin Formula, AMR Locations: United States, Manhattan, York, New York City
According to the Australian Strategic Policy Institute’s critical technology tracker, China appears to be lagging more in quantum computers — which perform many calculations in one pass, making them faster than today’s digital computers that perform each calculation separately — while narrowing the gap in quantum sensing for navigation, mapping and detection. Chinese scientists have even said they are building a quantum-based radar to find stealth aircraft with a small electromagnetic storm, though quantum specialists outside China have questioned their claims. He and his start-up, with offices in Sydney, Los Angeles, Berlin and Oxford, are among a cutting-edge group of global quantum leaders who see hyperbole and statecraft in many Chinese quantum announcements and hope to capitalize on what technology-sharing partnerships like the AUKUS security agreement represent. “AUKUS, for us, is exceptionally important,” said Professor Biercuk, noting that Q-CTRL works on sensors and quantum computing. The company’s main software product, which “stabilizes the hardware against everything that goes wrong in the field,” Professor Biercuk said, is already being used by quantum developers in the United States, Canada and Europe, where precise sensor technology is also advancing.
Persons: Michael Biercuk, “ AUKUS, , Biercuk Organizations: Australian, University of Sydney Locations: China, American, Australia, Sydney , Los Angeles, Berlin, Oxford, United States, Canada, Europe
Amazon recently rolled out a so-called "return-to-hub" policy that forces employees to work out of centrally assigned office locations, called hubs. That could apply even if the rest of the employee's team is in other cities. Amazon managers should have "empathy and positive intent" when having these difficult conversations with their staff. 'Be prepared'Perhaps in anticipation of sharp resistance from employees, the guidelines provide Amazon managers with several talking points and best-practice examples to follow. If an employee asks why someone else may have a remote work exemption, managers are to say "personal circumstances are confidential."
Persons: Brad Glasser, we've, Amazon's, Eugene Kim Organizations: Amazon, Amazon's, Employees
Palantir stock is headed to $25 a share as the company builds an AI "fortress," Wedbush said. The company will be a major player in the AI boom in the next decade, the firm said. "As we begin the 4th Industrial Revolution, Palantir is engaging in the widespread trend of various industries leveraging recent generative AI innovations to streamline operations and improve expense profiles," the Wedbush analysts wrote. "This is early innings on a sum-of-the-parts AI story just on the cusp on monetizing this massive green field AI opportunity," it predicted. Palantir CEO Alex Karp has been a vocal proponent of the rapid development of AI even in the face of risks associated with the technology.
Persons: Wedbush, Wedbush's Dan Ives, Palantir, Messi, Ives, Lionel Messi, Alex Karp Organizations: Service, Wedbush Securities, New York Times Locations: Wall, Silicon, Tel, Argentine
In forming a coalition government after last September’s elections, Ms. Meloni became the first far-right nationalist to lead Italy since Benito Mussolini. Like the former president, Ms. Meloni came to office with a long record of skepticism of Western alliances. But Ms. Meloni has shown that she is in charge when it comes to Ukraine. To Washington’s delight, Ms. Meloni has been drawing away from China. Valbona Zeneli, a senior fellow at the Atlantic Council’s Europe Center, said Western leaders misjudged Ms. Meloni after her election.
Persons: Brothers, Meloni, Benito Mussolini, Biden’s, Donald J, Trump, , Viktor Orban, Matteo Salvini, Silvio Berlusconi, ” Mr, Berlusconi, Vladimir V, Putin, Valbona Organizations: Conservative Political, Conference, Council’s Locations: Italy, Italian, United States, Germany, France, Russia, Moscow, Ukraine, China, Beijing
On the surface, Newport is what it appears to be: the glamorous “Sailing Capital of the World” with a new sailing museum to show for it. On the Narragansett Bay side, the harbor brims with America’s Cup boats and celebrity yachts. Recently, locals have been reframing Newport’s well-worn nautical narrative with additions like new art galleries and an L.G.B.T.Q. pride center, and by unveiling, if gradually, the town’s leading role in the trans-Atlantic slave trade. Lesser-known stories about Newport can be found off-the-beaten path, but with the city’s compact grid, free trolley system, and bike-friendly hotels, car-free wanderers are sure to capture the essence of both worlds.
Organizations: America’s Locations: Newport, Narragansett, United States
The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase. The Fed raised (the Fed funds target rate) by a quarter point and the vote was unanimous, and the move puts rates at a 22-year high." "We think recent data is consistent with the US policy rate peaking in July, as core CPI inflation slowed sharply in June. "Fed Chair Powell is going to suggest that for the time being that they need to assess more information for inflation. "Markets are for the most part becoming more confident the Fed won't have to raise rates in September.
Persons: GENNADIY GOLDBERG, J Powell, they've, They're, Powell, we've, ELLEN HAZEN, ” MICHAEL BROWN, JACK ABLIN, BRIAN JACOBSEN, MENOMONEE, ” PETER CARDILLO, Jackson, GURPREET GILL, GOLDMAN, QUINCY KROSBY, ” EDWARD MOYA, We'll, we'll Organizations: YORK, Federal Reserve, U.S, Treasury, Fed, Dow, Global Finance, Markets, Thomson Locations: U.S, WELLESLEY , MASSACHUSETTS, PALM BEACH , FLORIDA, WISCONSIN, GOLDMAN SACHS, CHARLOTTE, NORTH CAROLINA
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