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☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ Battle-tested bull: S&P 500 plows through obstacle course of worries to new high
▼ + stars: | 2024-02-03 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500' s latest run to a record high last week took it through an obstacle course of macroeconomic and company-specific hazards. Stocks are not at all cheap, with the S & P 500 at 20-times year-ahead earnings, which probably will mute multi-year returns. The median S & P 500 stock is flat year to date, is up 13% over the past three months, has gained 30% off its 52-week low and is within 8% of its 52-week high. On Friday, even as a majority of stocks fell with the S & P 500 gaining 1%, there were 175 NYSE new 52-week highs compared to 54 new lows. Here are the equal-weighted industrial and consumer-discretionary sectors compared to the equal-weight S & P 5600 since just after the bear-market low in October 2022.

Persons: Stocks, Craig Johnson, Piper Sandler, it's, Steve Deppe, Jobs, Jerome Powell, Friday's, Henry McVey, KKR's, Keith Lerner Organizations: Treasury, Wealth Management, Meta, Microsoft, Truist, Equity Locations: Meta, handicapping

SINGAPORE (AP) — After a U.S. senator grilled Singaporean TikTok CEO about his nationality and affiliation with the Chinese Communist Party, Singaporeans are complaining about ignorant — or even racist — views of their country. During the hearing, Chew was repeatedly questioned about his nationality and possible affiliations to the Chinese Communist Party by Sen. Tom Cotton, R-Ark. Chinese companies are required to set up Communist Party cells. “No Senator, again, I’m Singaporean,” Chew responded, visibly perplexed. Prior to joining TikTok, Chew worked for five years at Xiaomi, a Chinese smartphone company.

Persons: Shou Chew, Chew, Chinese Communist Party by Sen, Tom Cotton, ” Cotton, Cotton, “, ” Chew, “ McCarthy, Jojo Choo, ”, ” Choo, Fian Fazlie, “ He’s, ” Fazlie, Biden, Vivian Kao, Goldman Sachs Organizations: SINGAPORE, Chinese Communist Party, Chinese Communist Party by, Communist Party, Washington Post, Singapore, Straits Times, Fox News, U.S, “, DST Global Locations: America ., Singapore, China, Chinese, “ Singapore, TikTok, Xiaomi

The pay data includes salaries ranging from a data scientist position that offers $170,000 per year at Discord to a staff engineer role that earns $250,000 or more at Patreon. AdvertisementHere are the annual salaries for a job at FaZe Clan:Legal Counsel: $142,273 median starting range; from $133,308 to $194,437FaZe Clan did not respond to BI's request for comment. At LTK, a senior software engineer would make $130,000Courtesy of LTKLTK, formerly known as RewardStyle, is an affiliate-marketing and social-commerce platform used by influencers across Instagram, YouTube, and TikTok. At Teachable, a level II senior software engineer would make $190,000Teachable is a platform where creators can build and sell online courses and coaching programs. Here are annual salary ranges for several jobs at Teachable:Data Analyst : $69,826 to $85,000: $69,826 to $85,000 Senior Software Engineer : $160,000 to $180,000: $160,000 to $180,000 Senior Software Engineer - Core : $150,000 to $170,000: $150,000 to $170,000 Senior Software Engineer II : $190,000: $190,000 Software Engineer: $125,000 to $135,000Teachable did not respond to BI's request for comment.

Persons: upstarts, we're, Justin Kenna, they've, ByteDance, Teachable, Konstantin Savusia, James Nord, Brandon Brown, Ryan Brown, Brian Mechem, Warby Parker, Grin, Amanda Perelli, Anthony, Alex Zaccaria, Nick Humphreys, Linktree's, Amber Venz, Baxter, Read, Sydney Bradley, economy's, Patreon, Chris Best, Jason Henry Substack Organizations: YouTube, Business, FaZe, Safety, Software, Security, Enterprise Security, FaZe Clan, Fohr, Inc, Grin Technologies, Facebook, Keli Network Inc, Business Affairs, Jellysmack, Linktree, Ops, RewardStyle Inc, Networks, Mighty Networks, Mighty Software, Engineering, Sydney, Sydney Bradley One, BI, Staff, Social, Data Engineering, Trust, Quality Assurance, Hotmart, & $ Locations: California, New York, Texas, FaZe, Fohr, Jellysmack, Karat, Linktree, LTK, Instagram, Dallas , Texas, Teachable

☆ Dyson V15s Detect Submarine wet and dry vacuum review: this cordless stick vacuums and mops with finesse, but with a few caveats
▼ + stars: | 2024-02-02 | by ( Jaclyn Turner | Lauren Savoie | Senior Home Editor | ) www.businessinsider.com time to read: +17 min

The Dyson V15s Detect Submarine retails for a whopping $950, making it $200 more than the V15 Detect. Jaclyn Turner/ Business InsiderMany small parts and components are strategically placed within the Dyson V15s Detect Submarine's box. AdvertisementOur review of the Dyson V15s Detect SubmarineThe Dyson V15s Detect Submarine, pictured with the Digital Motorbar Cleaner Head, offers an in-depth and powerful clean. AdvertisementMopping performanceOn fresh spills and stains, the Dyson V15s Detect Submarine quickly scrubbed up sticky substances in a few back-and-forth passes. Jaclyn Turner/ Business InsiderA core part of the Dyson V15s Detect Submarine is its motorized mopping feature.

Persons: Dyson, Jaclyn Turner, you'll, It's, vacuuming, creamer Organizations: Business, Submarine, HEPA, Dyson

Elsewhere, Bank of America raised its price target on Nvidia, calling for more than 25% upside. 7:07 a.m.: Deutsche Bank deals latest blow to regional bank after earnings disappoint Deutsche Bank joined the post-earnings dogpile on New York Community Bank . Analyst Bernard von-Gizycki downgraded the regional bank to hold from buy and slashed to price target to $7 from $15. Analyst Alicia Yap upgraded the consumer internet stock to buy from neutral and raised her price target by $6 to $50. — Alex Harring 5:45 a.m.: Bank of America hikes Nvidia price target Don't expect Nvidia to lose momentum anytime soon, according to Bank of America.

Persons: Goldman Sachs, Bernard von, Gizycki, — Alex Harring, There's, Alicia Yap, Sea's, Shopee, Alex Harring, what's, Tim Cook, Brandon Nispel, AAPL's, AAPL, Morgan Stanley, Erik Woodring, we're, Tim Long, Piper Sandler, Harsh Kumar, Meta, Ross Sandler, Benjamin Black, Mark Kelley, Bernstein, Mark Shmulik, LSEG, Rufus, Eric Sheridan, Brian Nowak, outsized, Brad Erickson, Vivek Arya, Fred Imbert Organizations: CNBC, Apple, Bank of America, Nvidia, Deutsche Bank, New York Community Bank, von, Investors, Traders, Citi, Nasdaq, Conference, Barclays, Vision, Meta, Wall Street, Amazon, RBC Capital, Enterprise, SAP, VMWare, Dell Locations: Wall, New, Thursday's, Friday's premarket, China, genAI, CY25

☆ Tech execs are telling investors they have to spend money to make money on AI
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.

Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City

☆ It’s 50 Degrees in Minneapolis. Goodbye, Ice Shanties.
▼ + stars: | 2024-02-02 | by ( Patricia Leigh Brown | ) www.nytimes.com time to read: +1 min

It’s not every art installation that instructs visitors to take small steps like a penguin. Then again, there’s nothing quite like the Art Shanty Projects, in which intrepid Minnesota artists in insulated jumpsuits and ice cleats annually recreate traditional ice fishing huts, called shanties, in their own eccentric style on a frozen lake in Minneapolis. The idea that 19 artists’ shanties would rise on Lake Harriet — Bde’ Unma in the Dakota language — for this three-weekend event was never a foregone conclusion. Already this winter there have been four fatalities from people driving vehicles onto the ice. In late December, more than 100 people had to be rescued from an ice floe that broke free from a fishing area on a northern Minnesota lake.

Persons: It’s, Lake Harriet — Bde Organizations: Lake Harriet Locations: Minnesota, Minneapolis, Lake, Dakota

Tennessee is among 35 states, all five U.S. territories and four tribes that have opted into the Summer Electronic Benefits Transfer program, or Summer EBT, for this summer. "Established during the pandemic, Summer EBT was intended to supplement existing food assistance programs in extraordinary circumstances. “I think it is a mistake to not continue with Summer EBT in 2025 and beyond,” Anderson said in an interview. Under the federal program, some 644,000 Tennessee children can receive $77.3 million more in aid this summer, creating a multiplied economic impact, according to the USDA Food and Nutrition Service. All 50 states administer the existing Summer Food Service Program, which provides sites where kids can eat for free.

Persons: won’t, Joe Biden's, Bill Lee's, ”, Elizabeth Johnson, Lee, EBT, Signe Anderson, she's, ” Anderson, Jim Pillen, Tom Vilsack, he’s Organizations: —, . Tennessee, Republican, Republican Gov, “ Tennessee, Tennessee Justice Center, U.S . Department of Agriculture, USDA, Assistance, Nebraska Gov, USDA Food, Nutrition Service, Food Service Program, Associated Locations: Tenn, — Tennessee, ., Tennessee, “, Nebraska, ” Tennessee

☆ FBI: 'Financial sextortion' of teens is a 'rapidly escalating threat.' How parents can protect their kids
▼ + stars: | 2024-02-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Cavan Images | Cavan | Getty Images"Financial sextortion," a type of cybercrime that targets teens and tweens, is on the rise. "Sextortion is a rapidly escalating threat," FBI Director Christopher Wray told the Senate Judiciary Committee in December. Financial sextortion is the fastest-growing crime targeting children in North America and Australia, according to the Network Contagion Research Institute. Wealthy parents are more likely to be lenient about social media use. How to protect your kids from sextortion

Persons: Christopher Wray, Sen, Dick Durbin, Criminals, Tracy Kitten, Kitten, didn't, Oladosu, sextortion Organizations: Getty, FBI, Finance, Network, Research, Yahoo Boys, Meta, Strategy, U.S, YouTube Locations: Cavan, North America, Australia, African, U.S, Nigerian, bitcoin, sextortion

☆ Final Trades: Snap, Meta, Taiwan Semi and Diamondback Energy
▼ + stars: | 2024-02-01 | 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 EmailFinal Trades: Snap, Meta, Taiwan Semi and Diamondback Energy"Halftime Report" Investment Committee members Bryn Talkington, Josh Brown, Sarat Sethi and Steve Weiss give their top picks to watch for the second half.

Persons: Bryn Talkington, Josh Brown, Sarat Sethi, Steve Weiss Organizations: Taiwan Semi, Diamondback Energy, Investment Locations: Taiwan

☆ Your energy costs could become a lot more unpredictable
▼ + stars: | 2024-02-01 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

For more than a decade, Americans could rely on cheap natural-gas prices to heat their homes and power businesses. Prices shot up exponentially, and homeowners, renters, and businesses are still seeing the ripple effects on their utility bills — even though natural-gas prices have since fallen. Just six years later, the US surpassed Qatar to become the world's leading exporter of natural gas. Slocum added that natural-gas exports put upward pressure on prices, citing recent reports by the US Energy Information Administration and the Federal Energy Regulatory Commission . The higher costs between 2021 and late 2023 are due to the energy crisis in Europe and "cannot explicitly be linked" with greater US gas exports, the spokesperson said.

Persons: Joe Biden, Tyson Slocum, Goldman Sachs, Slocum, Mike Sommers Organizations: Service, Business, LNG, US Energy Information Administration, Federal Energy Regulatory, American Petroleum Institute, CNBC, Energy, Consumer Locations: Russia, Ukraine, Europe, Texas, New Mexico, Qatar

☆ Meta whistleblower Frances Haugen says Zuckerberg's apology to families a 'turning point'
▼ + stars: | 2024-02-01 | by ( Taylor Craig | In | ) www.cnbc.com time to read: +2 min

Meta whistleblower Frances Haugen felt co-founder and CEO Mark Zuckerberg's testimony before Congress was "powerful" on Wednesday — especially when he turned to apologize directly to families who blamed the toxicity of social media for the loss of a loved one. "That apology, I think, is a turning point because it's the first time he's actually had to visibly face the consequences of his choices," Haugen said on CNBC's Last Call. The hearing regarding child safety on social media featured several prominent tech CEOs from Discord, Snap , TikTok, and X, the platform formerly known as Twitter. Haugen, the former Facebook product manager turned whistleblower who leaked a trove of internal documents to the Wall Street Journal in 2021, said the apology was amplified by the many families in attendance. Many of the internal documents Haugen leaked detailed the company's knowledge of the potentially harmful impact social media platforms Facebook and Instagram may have on underage users.

Persons: Frances Haugen, Mark Zuckerberg's, he's, Haugen, Zuckerberg, Missouri Republican Sen, Josh Hawley, Hawley, You've Organizations: Missouri Republican, Facebook, Wall Street Locations: Missouri

Stroud in the Precision Passing skills challenge, helping the NFC build a 12-6 lead over the AFC on the opening night of the 2024 Pro Bowl Games. It’s the second year for a revamped format that replaced the traditional Pro Bowl tackle football game last winter in Las Vegas. Opening night skills winners each earned three points that count toward their team’s overall score. The Pro Bowl Games conclude Sunday with more skill events, as well as the flag game, which consists of four, 12-minute quarters played on a 50-yard field. Points accumulated during the game will be added to those earned in skill challenges to determine which conference wins the overall competition.

Persons: Tampa Bay’s Baker Mayfield, Houston’s C.J, Mayfield, Geno Smith, Miami’s Tua Tagovailoa, Gardner Minshew Organizations: NFC, AFC, Bowl Games, TV, Skills, University of Central, Pro Bowl, Buccaneers, Seattle Seahawks, Stroud, Texans, AFC South, Indianapolis Colts, Pro Bowl Games, ___, NFL Locations: ORLANDO, Fla, Tampa, Stroud, University of Central Florida, Las Vegas

☆ Meta to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Meta will report fourth-quarter earnings after the bell on Thursday. In Alphabet 's earnings report on Tuesday, the company said Google ad revenue increased 11% from a year earlier, slower expansion than analysts were expecting. Meta finance chief Susan Li most recently highlighted the significance of business from China in the company's third-quarter earnings report in October. Analysts expect Reality Labs to show revenue of $762.8 million for the quarter and an operating loss of $4.26 billion, according to StreetAccount. Apple and Amazon are also slated to report fourth-quarter results on Thursday, wrapping up earnings season for tech's mega-cap companies.

Persons: Mark Zuckerberg, Meta, Susan Li, Li, Zuckerberg Organizations: U.S, Capitol, LSEG, StreetAccount, Google, Facebook, Meta, Wednesday, Labs, Apple Locations: Washington , U.S, China

Nebraska is among more than a dozen states — all with Republican governors — that have opted out of receiving the funding. Kim Reynolds criticized the federal food program as doing “nothing to promote nutrition at a time when childhood obesity has become an epidemic. Statistics from the U.S. Department of Agriculture showing a steady increase in food insecurity among Nebraska families could help explain that flood of calls, Day said. “This places Nebraska above the national average and gives us the 11th highest food insecurity in the nation,” she said. “As many of you know, food is more expensive than ever, and it’s squeezing low-income Nebraska residents hardest."

Persons: Weeks, Jim Pillen, “, Omaha Sen, Jen Day, —, Kim Reynolds, Sen, Ray Aguilar, Aguilar, Day, Pillen Organizations: Republican Gov, Legislature's, Human Services Committee, SNAP, Democrat, Nebraska Legislature, Republican, Statistics, U.S . Department, Agriculture, Summer Food Service Program, U.S . Department of Agriculture Locations: Nebraska, Omaha, Iowa, Grand, U.S

☆ Senator tells Mark Zuckerberg his product is 'killing people' at child safety hearing
▼ + stars: | 2024-02-01 | by ( Jyoti Mann | Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg was grilled at a Senate hearing on online child safety on Wednesday. The Meta chief was told by Senator Lindsey Graham: "You have a product that's killing people." AdvertisementMark Zuckerberg was told that Meta's product is "killing people" at a tense Senate hearing on Wednesday. At one point, the Meta CEO was interrogated by Republican Senator Lindsey Graham during a fiery hearing on online child safety before the Senate Judiciary Committee. AdvertisementBig tech leaders from X, TikTok, Snap, and Discord were also called to testify and the child safety hearing.

Persons: Mark Zuckerberg, Lindsey Graham, —, Graham, Mr, Zuckerberg, General Raúl Torrez, Torrez, Meta didn't Organizations: Meta, Service, New, Guardian Locations: Nigeria, New Mexico

Co-founder and CEO of Snap Inc. Evan Spiegel attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, on January 31. In prepared testimony reviewed by CNN, Spiegel will say that on average, most Snapchat users connect directly with their friends. "We designed Snapchat to open into the camera, instead of a content feed, to encourage creativity instead of passive consumption," Spiegel will testify. "When people share their Story with friends on Snapchat there are no public likes or comments." A California judge recently ruled that Snap must face a lawsuit over children's fentanyl purchases linked to the app.

Persons: Evan Spiegel, Nathan Howard, Spiegel, Connecticut Democratic Sen, Richard Blumenthal, Tennessee Republican Sen, Marsha Blackburn Organizations: Snap Inc, U.S . Capitol, Reuters, CNN, Connecticut Democratic, Tennessee Republican Locations: Washington, California

☆ GOP senator asks TikTok's CEO over and over if he's Chinese. He's Singaporean.
▼ + stars: | 2024-01-31 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +2 min

During Wednesday's tense congressional testimony over online safety for children, Sen. Tom Cotton repeatedly asked Singaporean TikTok CEO Shou Zi Chew if he's ever been a part of the Chinese Communist Party. An increasingly agitated Chew, who's no stranger to US politicians' prodding, tried repeatedly to shut down the line of questioning by telling the conservative senator that he's Singaporean. "Senator, I'm Singaporean, no," Chew responded. Chew was joined by four other social media companies' CEOs Wednesday for a combative hearing on protecting children online in the Senate Judiciary Committee. Zaveri put it this way:The rhetoric at times seemed to paint the Chinese people with a broad brush and conflated people of Chinese ancestry with the will of the CCP.

Persons: Sen, Tom Cotton, Shou Zi Chew, he's, Chew, Cotton, Jamie MacEwan, MacEwan, Paayal Zaveri, Zaveri, bungled Organizations: Chinese Communist Party, Business, Enders Analysis, Committee, Energy, Commerce, CCP Locations: China, Beijing

☆ Senators Grilled Tech Executives on Child Safety
▼ + stars: | 2024-01-31 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

Five of the country’s most prominent tech executives appeared at a hearing today on Capitol Hill, where they were berated by lawmakers for creating “a crisis in America” by ignoring the spread of child sexual abuse material on their platforms. Members of the Senate Judiciary Committee spent almost four hours needling the chief executives of Meta, TikTok, X, Snap and Discord. Some said the companies had “blood on their hands” and that users “would “die waiting” for them to make changes. The senators pressured the executives to say on the record if they support the Kids Online Safety Act, a bipartisan bill backed by dozens of senators but opposed by the A.C.L.U. Only Evan Spiegel of Snap and Linda Yaccarino of X said yes.

Persons: Evan Spiegel, Linda Yaccarino, X, Mark Zuckerberg, ” Zuckerberg Organizations: Meta, Electronic Frontier Foundation, Facebook Locations: America

☆ US Receives Thousands of Reports of AI-Generated Child Abuse Content in Growing Risk
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

The NCMEC has not yet published the total number of child abuse content reports from all sources that it received in 2023, but in 2022 it received reports of about 88.3 million files. "We are receiving reports from the generative AI companies themselves, (online) platforms and members of the public. It's absolutely happening," said John Shehan, senior vice president at NCMEC, which serves as the national clearinghouse to report child abuse content to law enforcement. Content flagged as AI-generated is becoming "more and more photo realistic," making it challenging to determine if the victim is a real person, said Fallon McNulty, director of NCMEC's CyberTipline, which receives reports of online child exploitation. OpenAI, creator of the popular ChatGPT, has set up a process to send reports to NCMEC, and the organization is in conversations with other generative AI companies, McNulty said.

Persons: Sheila Dang, John Shehan, Fallon McNulty, NCMEC's, McNulty, Kylie MacLellan Organizations: U.S . National Center for, Reuters, Meta, Stanford Internet Observatory Locations: NCMEC, Austin

☆ Big Tech CEOs are headed to DC to face the Senate over child safety online
▼ + stars: | 2024-01-31 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +3 min

Congress is set to grill leaders from Meta, X, TikTok, and other tech companies in a hearing Wednesday. The session will cover efforts to protect children from sexual exploitation online. This will be X CEO Linda Yaccarino's first time testifying before Congress. AdvertisementTech leaders are arriving in Washington, DC, voluntarily or not, to answer for their platforms' efforts to protect kids from sexual exploitation. Over the weekend, X announced plans to hire 100 full-time workers for a yet-to-be-opened content moderation hub in Austin aimed at addressing child sexual exploitation on its platform.

Persons: Linda Yaccarino's, —, X —, Elon Musk, Axios, She'll, Mark Zuckerberg, Evan Spiegel, TikTok, Shou Zi Chew, Jason Citron, Meta, We're, X Organizations: Meta, Service, Tech, Elon, Wall, Journal, The New York Times, Times Locations: Washington , DC, Austin

☆ Silicon Valley Battles States Over New Online Safety Laws for Children
▼ + stars: | 2024-01-31 | by ( Natasha Singer | ) www.nytimes.com time to read: +1 min

Last summer, Ohio enacted a social media statute that would require Instagram, Snapchat, TikTok and YouTube to get a parent’s consent before permitting children under age 16 to use their platforms. The case is part of a sweeping litigation campaign by NetChoice to block new state laws protecting young people online — an anti-regulation effort likely to come under scrutiny on Wednesday as the Senate Judiciary Committee questions social media executives about child sexual exploitation online. The NetChoice lawsuits have rankled state officials and lawmakers who sought tech company input as they drafted the new measures. “I think it’s cowardly and disingenuous,” Jon Husted, the lieutenant governor of Ohio, said of the industry lawsuit, noting that either he or his staff had met with Google and Meta about the bill last year and had accommodated the companies’ concerns. “We tried to be as cooperative as we possibly could be — and then at the 11th hour, they filed a lawsuit.”

Persons: —, ” Jon Husted, “, ” Organizations: YouTube, Google, Federal, Court Locations: Ohio

☆ Meta, X, TikTok, Snap and Discord face growing appetite in Congress for tighter social media regulation
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

(L-R) Shou Zi Chew, CEO of TikTok, Linda Yaccarino, CEO of X, and Mark Zuckerberg, CEO of Meta testify before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Tillis and other lawmakers accused the tech executives of failing to protect children from sexual exploitation on their respective social media platforms. Growing appetite for regulationTo be sure, both Republican and Democratic senators were united in their conviction that social media firms are failing the American public and directly harming young people. Still, it takes time for bills to get passed, and all of these social media firms are still getting slammed for child-safety related issues, which could keep the topic fresh in the minds of politicians. Watch: Meta CEO Mark Zuckerberg apologizes to parents at online child safety Senate hearing.

Persons: Shou Zi Chew, Linda Yaccarino, Mark Zuckerberg, Meta, Alex Wong, Sen, Thom Tillis, Tillis, Josh Hawley, Zuckerberg, Tom Cotton, Chew Organizations: Dirksen, Facebook, Republican, Democratic, Meta, New, Apple, Lawmakers, Chinese Communist Party Locations: Washington , DC, Cambridge, China

☆ Lawmakers to grill CEOs of Meta, TikTok, X and other social media firms at hearing on child safety
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Mark Zuckerberg, Linda Yaccarino, Evan Spiegel and other leading social media executives face a grilling on Wednesday from lawmakers concerned about child exploitation and safety on their services. Lawmakers from both sides of the aisle have blasted the companies for failing to properly address what some have called a "plague of online child sexual exploitation" on social media apps. Wednesday's hearing is focused specifically on issues pertaining to child exploitation and the prevalence of child sexual abuse material on social media. The social media executives are expected to detail their efforts combating child exploitation on their platforms, which include working with law enforcement and tasks like proactively identifying potential predators. Watch: Early Meta platforms investor Brad Gerstner tackles big tech ahead of key earnings week

Persons: Mark Zuckerberg, Linda Yaccarino, Evan Spiegel, —, Shou Zi Chew, Jason Citron, Sen, Dick Durbin, Lindsey Graham, S.C, Citron, Meta, Brad Gerstner Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, TikTok, Spiegel, Google YouTube, Committee, Lawmakers, Electronic Frontier Foundation, American Civil Liberties Union Locations: Washington ,, Washington, . New

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