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☆ AI helped decipher a philosopher's musings about 'pleasure' after they were buried by Vesuvius' eruption 2,000 years ago
▼ + stars: | 2024-02-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

An ancient Greek philosopher's musings about "pleasure" have been rediscovered thanks to AI. The passage is part of an ancient set of scrolls known as the Herculaneum papyri. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn ancient Greek philosopher's never-before-seen musings on life's pleasures have been rediscovered with the help of AI. The passage is part of a set of ancient scrolls known as the Herculaneum papyri.

Persons: —, philosopher's, Julius Caesar's Organizations: Service, Business Locations: Mount

☆ Can AI carry on this fashion designer’s legacy?
▼ + stars: | 2024-02-06 | by ( Marc Bain | ) edition.cnn.com time to read: +11 min

A few years back, she began thinking about AI after working on a fashion game tied to a line she designed for Walmart. The tagged imagery is fed into the AI model to train it. “It took us about a month to get it to the right point,” said Cyril Foiret, founder and creative director of Maison Meta. Foiret said they essentially had to develop a mini AI model just for that. Last year, she contacted Maison Meta, which was creating a name for itself through projects like organizing the first AI Fashion Week with Revolve.

Persons: Norma Kamali isn’t, Norma Kamali, Lynn Karlin, ”, “, hasn’t, ” Kamali isn’t, She’s, Hillary Taymour, Julius Juul, Heliot Emil, Laverne Cox, Jennifer Lopez, Kamali, Jamie McCarthy, Helmut Lang, Ann Demeulemeester, Alice Bouleau, Bouleau, Maison Meta, Cyril Foiret, Maison, Iman, Nick Elgar, Corbis, Foiret, they’ve, it’s, ” Kamali, “ I’m, Nima Abbasi, Vivienne Westwood, Francesco Da Vinci, ” Abbasi Organizations: The, Fashion, CNN CNN —, New, Maison Meta, Penske Media, Northwest Airlines, Walmart, NBC, Sterling International, Kamali’s, Maison, Getty, Meta, Designers, CNN Locations: New York

☆ 'This stock could double': Fund manager loads up on shares of two banks amid the volatility
▼ + stars: | 2024-02-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

There are opportunities in the banking sector despite a rise in volatility and concern over steep losses at some lenders, according to fund manager Cole Smead. The stock makes up 1.36% of the Smead Value Fund . He believes UniCredit's share buybacks while the shares trade below book value will drive book value growth higher than the current 8% return on equity. "When you buy back shares below book, there is a multiplier effect on book value growth," Smead explained. The fund manager expects UniCredit will trade above book value over the next 12-18 months and use its stock to pursue further acquisitions.

Persons: Cole Smead, Switzerland's, Julius Baer, Smead, CNBC's, RoE, UniCredit Organizations: Smead Capital, Western Alliance Bank, KBW, New York Community Bancorp, Investors, Western Alliance Bank's, CNBC Pro Locations: Europe, U.S

NEW YORK (AP) — Kawhi Leonard and Paul George of the Los Angeles Clippers were chosen as All-Star reserves Thursday, while the Minnesota Timberwolves and New York Knicks also had two players selected. Anthony Edwards and Karl-Anthony Towns of the Western Conference-leading Timberwolves will be going to the Feb. 18 game in Indianapolis. Stephen Curry is an All-Star for the 10th time, while the Lakers' Anthony Davis and Devin Booker of Phoenix rounded out the West reserves. Jalen Brunson was selected for the first time and was joined by teammate Julius Randle from the Knicks, who went 14-2 in January. They had to choose three frontcourt players, two guards and two other players, regardless of position.

Persons: — Kawhi Leonard, Paul George, Anthony Edwards, Karl, Anthony Towns, Stephen Curry, Anthony Davis, Devin Booker, Jalen Brunson, Julius Randle, Philadelphia's Tyrese Maxey, Orlando's Paolo Banchero, Cleveland's Donovan Mitchell, Boston's Jaylen Brown, Curry, of Famer Paul Arizin’s, Davis, George —, Leonard, Milwaukee’s Giannis Antetokounmpo, Damian Lillard, Philadelphia’s Joel Embiid, Boston’s Jayson Tatum, Tyrese, LeBron James, Denver’s Nikola Jokic, Kevin Durant, Shai Gilgeous, Alexander of, Luka Doncic, That's, Trae, Domantas Sabonis, De'Aaron Fox, Boston's Derrick White, Rudy Gobert, Jimmy Butler, Adam Silver, Randle, ___ Organizations: Los Angeles Clippers, Star, Minnesota Timberwolves, New York Knicks, Western Conference, Timberwolves, Lakers, Knicks, of Famer, of Famer Paul Arizin’s Warriors, NBA, Indiana, Alexander of Oklahoma City, Luka, Celtics, Wolves Locations: Indianapolis, Indiana, Tyrese Haliburton, Phoenix, Dallas, Sacramento, Minnesota, Towns

☆ Banks are being rocked again as real estate losses mount
▼ + stars: | 2024-02-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

The regional lender set aside $552 million in the fourth quarter to absorb loan losses, up from $62 million in the previous quarter. The increase was driven partly by expected losses on a loan used to finance an office building, it said. ET as shares in NYCB, as well as other regional banks, suffered sharp losses. Much bigger players are girding themselves for losses linked to commercial real estate. Europe’s benchmark Stoxx Europe 600 Banks index, which tracks 42 big EU and UK banks, is up 23% since a low in late March.

Persons: Thomas Cangemi, Brendan McDermid, Julius Baer, Philipp Rickenbacher, Arnd Wiegmann, Reuters Philip Lawlor, ”, “, ” Lawlor, CNN’s Matt Egan Organizations: London CNN, Credit Suisse, New York Community Bancorp, New York Stock Exchange, Japan’s Aozora Bank, Federal Reserve, ”, CNN, Signa Group, Chrysler, Reuters, Deutsche Bank, Bank, Suisse —, UBS, Wilshire Indexes, KBW Locations: Europe, New York, Tokyo, Zurich, California, Republic, NYCB, Banc, Swiss, Austrian, Switzerland

☆ Top wealth manager Julius Baer caught in property write-off storm as CEO steps down
▼ + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Group Chair Romeo Lacher said he and the board "deeply regret" net credit losses of 606 million Swiss francs ($701 million), well above consensus expectations, which include a loan loss allowance of 586 million francs. Julius Baer in November announced its exposure to the struggling Austrian company, which has been hit by the higher interest rate environment. It further said Thursday it would exit its private debt businesses, winding down its remaining private debt book of 800 million million Swiss francs, 2% of its total loan book. The bank reported net profit attributable to shareholders of 454 million Swiss francs for the full-year 2023, down 52%, with earnings per share of 2.21 francs.

Persons: Julius Baer, Philipp Rickenbacher, Romeo Lacher, Rickenbacher, Nic Dreckmann, Anke Reingen Organizations: Julius Baer Group, Signa, Austrian, CNBC, Swiss, RBC Locations: Zurich, Switzerland, Swiss

NEW YORK (AP) — Jalen Brunson scored 40 points and shook off an apparent eye injury to make the go-ahead basket with 1:46 remaining as the New York Knicks beat the Indiana Pacers 109-105 on Thursday night for their ninth straight victory. Hours after being voted an All-Star for the first time in his career, Brunson scored 11 in the fourth quarter to rally the Knicks in a game they trailed by 15 points. The Knicks, playing without injured starting forwards Julius Randle and OG Anunoby, were coming off a 14-2 January. Photos You Should See View All 45 ImagesRandle will be out through the All-Star break with his dislocated right shoulder, while Anunoby missed his third straight game with right elbow inflammation. Bennedict Mathurin missed his second straight game with a sprained toe for Indiana, which lost its second straight after a three-game winning streak.

Persons: — Jalen Brunson, Brunson, Andrew Nembhard, Jalen Smith, Donte DiVincenzo, DiVincenzo, Deuce McBride, Isaiah Hartenstein, Achiuwa, Julius Randle, Randle, Anunoby, Quentin Grimes, Smith, Pascal Siakam, Obi Toppin, McBride, Hartenstein, Bennedict Mathurin, ___ Organizations: New York Knicks, Indiana Pacers, Knicks, Pacers, Indiana, UP NEXT, Sacramento, Friday, Los Angeles Lakers Locations: Obi Toppin . Indiana, New York

GENEVA (AP) — Julius Baer says its CEO is resigning and the Swiss bank is quitting the private debt business as well as setting aside more than a half-billion Swiss francs (dollars) reportedly over its exposure to bankrupt Austrian asset manager Signa. Zurich-based Julius Baer said it was exiting the private debt business and the annual results reflected net credit losses of 606 million Swiss francs (about $702 million) — 586 million francs of which included a loan-loss allowance for unspecified private debt exposure. Photos You Should See View All 45 ImagesShares of Julius Baer were up nearly 6% to 50.02 Swiss francs in midmorning trading Thursday on the SIX Swiss Exchange following the news. Media reports said the bank's troubles were linked to Signa, but Julius Baer didn't specify. The bank announced the exposure to private debt issues in November, comprised of three loans to different entities at a “European conglomerate” active in commercial real estate and luxury retail.

Persons: — Julius Baer, Romeo Lacher, Julius Baer, Philipp Rickenbacher, Nic Dreckmann, Julius Baer didn't Organizations: GENEVA, Signa, SIX Swiss Exchange, Media, Credit Suisse, UBS Locations: Swiss, Austrian, Zurich, Vienna

☆ It could be time for investors to take some profits on Netflix after earnings, according to the charts
▼ + stars: | 2024-01-23 | by ( Todd Gordon | ) www.cnbc.com time to read: +6 min

Netflix has recently been crowned the unofficial king of streaming services and it's scheduled to report earnings this evening. The earnings report could be another good one, but the stock technicals are flashing some warning signs for long-term investors. From a fundamental standpoint, NFLX has been anointed 'the one' in the streaming space after delivering on multiple initiatives. Combined that with such strong projected growth rates creating a stretched forward valuation making investors even more cautious. At the current price of $486.50 and an expectation of $15.94 in earnings, that puts NFLX at 30.50 times 2024 earnings.

Persons: NFLX, Julius de Kempenaer, Hope, you'll, Gordon Organizations: Netflix, Tactical Alpha, Edge, candlestick Locations: I'm

☆ Migration of Alaska’s earliest people linked to woolly mammoth’s movements
▼ + stars: | 2024-01-18 | by ( Jenna Schnuer | ) edition.cnn.com time to read: +6 min

The tusk belonged to a woolly mammoth later named Élmayųujey’eh or, for short, Elma. Karen Spaleta, one of the new study's coauthors, takes a sample from a mammoth tusk found at Alaska's Swan Point archaeological site. Woolly mammoth tusks grew at a consistent daily rate, with the earliest days of the animal’s life recorded in the tip of the tusks. “The US Geological Survey has done a pretty darn good job mapping rocks in Alaska,” Rowe said. Changing the picture of hunter-gatherersThe new evidence advances more than an understanding of the early relationship between woolly mammoths and humans.

Persons: Audrey Rowe, Matthew Wooller, Wooller, Karen Spaleta, Rowe, ” Rowe, “, ” Wooller, ”, Love Dalén, Dalén, ” Dalén, Julius Csotonyi, Hunter, Jenna Schnuer Organizations: CNN, University of Alaska, university’s College of Fisheries, Ocean Sciences, Geological Survey, Palaeogenetics Locations: Alaska, Canada, United States, Elma, University of Alaska Fairbanks, Swan, Stockholm, Sweden, Anchorage , Alaska

Embiid got the better of Jokic late, buoyed by a three-point play that stretched the Sixers’ lead. Embiid gave the Sixers a scare when he fouled Michael Porter Jr. on a 3-point attempt with 26.6 seconds left. Jokic won two straight NBA MVP awards and was beat out last season by Embiid for the honor. Embiid had his 18th straight 30-point game, tying Hall of Famer Elgin Baylor for the sixth-longest streak in NBA history. Embiid scored 23 points and the 76ers shot 67% from the floor.

Persons: — Joel Embiid, Nikola Jokic, Jokic, Tyrese Maxey, Tobias Harris, Embiid, Michael Porter Jr, Porter, Hall, Hall of Famer Elgin, ”, Nick Nurse, “, Julius Erving, Maxey, Murray, Nurse barked, Kelly Oubre Jr, Harris, ” Nurse, Philly, Hope, ___ Organizations: PHILADELPHIA, Philadelphia 76ers, Denver Nuggets, NBA, Sixers, Denver, Hall of Famer, Hall of Famer Elgin Baylor, ” 76ers, 76ers, Nuggets, Philadelphia . 76ers, Orlando Locations: tipoff, Serbian, Boston

☆ Bitcoin’s post-ETF launch sell-off could continue, but all-time high levels are in sight, chart analysts say
▼ + stars: | 2024-01-12 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Many investors and analysts have expressed confidence that bitcoin can reach and even surpass its all-time high level of $69,000. BTC.CM= 1Y line Bitcoin's 1-year performance per Coin Metrics He said $40,000, a level bitcoin hasn't seen since early December, would be another potential stopping point. Julius de Kempenaer, a senior technical analyst at StockCharts.com, is watching a slightly higher support level at $45,000. "While bitcoin's price is coming off a new cycle high, RSI made a lower high and was unable to get above the 70 level," Wald said. Bitcoin reached its all-time high near $69,000 in November 2021.

Persons: bitcoin, Oppenheimer, Ari Wald, Bitcoin, Julius de Kempenaer, Wald, it's oversold, de Kempenaer, Wolfe, Rob Ginsberg, Ginsberg Organizations: U.S, CNBC, Metrics, RSI Locations: Wald

MILWAUKEE (AP) — Giannis Antetokounmpo had 35 points and 10 assists, Damian Lillard added 28 points, and the Milwaukee Bucks beat the New York Knicks 146-122 on Tuesday night to reach the semifinals of the NBA's inaugural In-Season Tournament. Milwaukee is 5-0 in tournament play and extended its home winning streak to nine games. Julius Randle scored a season-high 41 points for the Knicks, whose three-game winning streak was snapped. He eventually limped up the court but stayed in the game and tallied 10 of the Bucks' first 13 points. The Knicks had gone 10-3 since losing to the Bucks in Milwaukee on Nov. 3 in the opener of tournament group play.

Persons: — Giannis Antetokounmpo, Damian Lillard, Julius Randle, Jalen Brunson, Barrett, Antetokounmpo, Adrian Griffin, Thanasis, Robin Lopez, Brook Lopez, Lillard, ___ Organizations: MILWAUKEE, Milwaukee Bucks, New York Knicks, Bucks, Indiana, Milwaukee, Knicks, Brook, UP NEXT, Boston, Pacers Locations: Las Vegas, New York, Milwaukee

☆ Sanofi CEO under pressure to woo investors after spending shock
▼ + stars: | 2023-12-05 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

[1/2] Paul Hudson, chief executive officer of Sanofi, speaks during the annual results news conference at the company's headquarters in Paris, France, February 4, 2022. The market's shock reaction, compounded by a lack of details of the spending push, overshadowed Sanofi's plan to list its consumer unit, in line with an industry trend. David Song, a portfolio manager and investment partner at Tema ETF, said: "The narrative of Sanofi has been a margin expansion, earnings-driven story for a lot of investors." "Shouldn't investors give credit to managements who care about long-term shareholder value creation?," said Song. ($1 = 0.9206 euros)Reporting by Ludwig Burger; Editing by Josephine Mason and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hudson, Sanofi, Benoit Tessier, Hudson, Dan Lyons, Janus Henderson, Markus Manns, David Song, Fabian Wenner, Julius Baer, Union's Manns, Janus Henderson's Lyons, Johnson, Song, Ludwig Burger, Josephine Mason, Emelia Organizations: REUTERS, Reuters, Janus Henderson Investors, Germany's Union Investment, Tema, Thomson Locations: Paris, France, British, Hudson, Denver, Swiss, Tema

☆ Swiss Banque Pictet pays $123 mln for helping clients evade US taxes
▼ + stars: | 2023-12-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

According to prosecutors, U.S. taxpayers with Pictet accounts in Switzerland and elsewhere evaded about $50.6 million in taxes between 2008 and 2014. As part of the agreement, Banque Pictet agreed to pay $122.9 million to the U.S. Treasury. As part of the agreement, Pictet, which oversees 632 billion Swiss francs ($724 billion) in client assets, will implement remedial measures and cooperate with the authorities' investigation. U.S. authorities have long accused Swiss banks of helping wealthy Americans evade taxes, and Pictet signalled it had been in contact with the U.S. for more than a decade. Credit Suisse in 2014 agreed to pay a $2.5 billion fine for helping Americans evade taxes in a conspiracy that spanned decades.

Persons: Andrew Kelly, Banque Pictet, Jim Lee, Pictet, Julius Baer, Renaud de Planta, Marc Pictet, Luc Cohen, Noele, Jan Harvey, Bill Berkrot, Christina Fincher Organizations: Internal Revenue Service, Washington , D.C, REUTERS, Banque Pictet, Justice Department, Banque, U.S . Treasury, U.S, Credit Suisse, UBS, Prosecutors, Noele Illien, Thomson Locations: Washington ,, Swiss, Switzerland, Pictet, New York, Zurich

☆ Geely’s stalled IPO discounts global expansion
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 1 (Reuters Breakingviews) - Electric-car marque Zeekr, controlled by China’s largest private auto group Zhejiang Geely, has hit a roadblock. It is putting on hold its New York initial public offering because of a mismatch in valuation expectations, Reuters reported on Thursday. It was hoped the listing would break the ice and encourage a resurgence in Chinese volumes in U.S. capital markets. Its prospectus was published in November, when global stocks recorded their best performance since 2020. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Xi Jinping, Joe Biden, Katrina Hamlin, Julius Baer’s, Una Galani, Thomas Shum Organizations: Reuters, Zhejiang, American, Tata Technologies, X, Barclays, Thomson Locations: HONG KONG, York, Mumbai, Europe, United States, China

☆ What one Swiss bank's troubles can tell us about market vulnerabilities — and social media
▼ + stars: | 2023-11-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. The share price of Julius Baer plummeted after the Swiss private bank disclosed 606 million Swiss francs ($692.7 million) of loan exposure to a single conglomerate client. The 606 million Swiss franc exposure to one client — via three loans to different entities within a European conglomerate — is collateralized by commercial real estate and luxury retail, the company revealed. The bank last week booked provisions of 70 million Swiss francs to cover the risk of a single borrower in its private loan book. The European Central Bank recently examined the commercial real estate sector and the provisioning methods and capital buffers of European banks.

Persons: Julius Baer, Signa, Julius Baer's CET1, DBRS Morningstar, Vitaline Yeterian, Elisabeth Rudman, Julius Baer's Organizations: Julius Baer Group, Austrian, DBRS, CNBC, European Central Bank, Swiss Locations: Zurich, Switzerland, Swiss

☆ ASML’s new CEO has tricky path to a 1,000% return
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

On Thursday the Dutch group said Chief Executive Peter Wennink is retiring after a decade at the helm. The Veldhoven-based group dominates the market for lithography equipment, a key tool for making microchips used to power everything from smartphones to cars. Demand for its kit has seen ASML’s revenue quadruple and its shares deliver a 1,000% total return since Wennink took over in July 2013. But ASML’s current market power makes it harder for his successor to do deals without inviting antitrust scrutiny. The next 1,000% return is likely to take longer than 10 years.

Persons: Peter Wennink, Christophe Fouquet, ASML, microchips, Wennink, Fouquet, Karen Kwok, Julius Baer’s, Neil Unmack, Oliver Taslic Organizations: Reuters, X, Barclays, Thomson Locations: U.S, China

NEW YORK (AP) — Jalen Brunson scored 42 points, Julius Randle had 29 points and 10 rebounds, and the New York Knicks sent the Detroit Pistons to their franchise-record 16th consecutive loss with a 118-112 victory Thursday night. Cade Cunningham scored 31 points and Killian Hayes chipped 23 in for the Pistons. DiVincenzo hit back-to-back 3-pointers within a span of 45 seconds in the fourth quarter to put the Knicks ahead 109-103. Brunson scored 16 points in the opening period to help the Knicks take a 31-17. The Pistons fell behind by 16 points to start the second quarter but closed out the half with back-to-back 3-pointers from Cunningham to make it 54-all.

Persons: — Jalen Brunson, Julius Randle, RJ Barrett, Donte DiVincenzo, Cade Cunningham, Killian Hayes, Marvin Bagley’s, DiVincenzo, Cunningham, Randle, Brunson, ___ Organizations: New York Knicks, Detroit Pistons, Pistons, Chicago, Knicks, New, Charlotte, NBA, Detroit, UP NEXT, Cleveland Cavaliers, Toronto Raptors

☆ Ferrovial ends bumpy Heathrow ride on a high
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 29 (Reuters Breakingviews) - Ferrovial (FERF.AS) may be relieved to be exiting one of the world’s busiest airports. The Spanish infrastructure giant has sold its final stake in Heathrow, left over after its 2006 acquisition of BAA, which owned the hub along with Stansted and Gatwick. Regulators forced BAA to sell airports like Gatwick on competition concerns, and Ferrovial later trimmed its stake to just 25%. In 2020 Covid-19 struck, and Heathrow has since been locked in disputes with airlines like British Airways, who accuse it of overcharging. The price paid by Ardian and Saudi Arabia’s Public Investment Fund values Heathrow including debt, at 25 billion pounds, a 27% premium to its regulated asset base.

Persons: –, Aimee Donnellan, Julius Baer’s, Lisa Jucca, Streisand Neto Organizations: Reuters, BAA, Stansted, Regulators, Gatwick, Heathrow, British Airways, Saudi Arabia’s Public Investment Fund, Jefferies, X, Barclays, Thomson Locations: Spanish, Heathrow, Gatwick, It’s

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

☆ Julius Baer declines to confirm Signa exposure
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Nov 29 (Reuters) - Julius Baer's Chief Executive declined to confirm on Wednesday whether the private bank's 606 million Swiss franc ($693 million) exposure it disclosed earlier this week is to toppled property giant Signa. The CEO said it was too early to say what specific lessons could be learned relating to the large exposure in its private debt business. Troubled property group Signa, which owns scores of high-profile projects and department stores, declared insolvency on Wednesday. Signa, controlled by an Austrian magnate, has borrowed heavily from banks including Julius Baer, which on Monday disclosed it had an exposure of more than 600 million Swiss francs, the largest in its private debt loan book, to a European conglomerate. "I believe Julius Baer will be able to continue its risk appetite and its risk capacity as we have on average in the last few years."

Persons: Julius Baer's, Philipp Rickenbacher, Julius Baer, Rickenbacher, Noele Illien, Elaine Hardcastle, Tomasz Janowski Organizations: Financial Times, Global Banking, Thomson Locations: ZURICH, Austrian

☆ Opinion: What the Sports Illustrated AI debacle is telling us
▼ + stars: | 2023-11-29 | by ( Opinion Will Leitch | ) edition.cnn.com time to read: +9 min

(Full disclosure: I briefly hosted a television show for Sports Illustrated a few years back that no one watched.) But the only difference between those sports sites using AI writers and other sports sites using AI writers is that people actually used to enjoy Sports Illustrated and Deadspin; Yahoo, for example, has been contracted with a company called “Automated Insights” to write AI sport stories for years. Another game I like to play in my downtime is NBA2K, the wildly popular NBA video game. But in the game, Aldridge is not real; he’s just some pixels synced to audio the real Aldridge recorded years ago. Sports writers insist, as we fight back against a creeping AI world, that we can always do our jobs better than a robot can.

Persons: Will Leitch, ”, it’s, I’m, —, William Faulkner, Robert Frost, John Steinbeck, AdVon, Richard Johnson, Emma Baccellieri, Pat Forde, Tom Verducci, you’ve, It’s, Fox, Charissa Thompson, I’ve, Hall, Hall of Famer Andrea Kremer, Thompson, “, can’t, Curt Gowdy, David Aldridge, Aldridge, Video Aldridge, Julius Randle, Randle, … I’d Organizations: New York Magazine, CNN, Park Baseball, MLB, Sports, The Arena Group, The, Group, Sports Illustrated, Yahoo, Amazon, Hall of Famer, New York Times, NBA, Video Knicks

☆ Barclays strategic fix will entrench low valuation
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters Breakingviews) - Barclays (BARC.L) is looking for a valuation cure. Cutting into the investment bank and reallocating to the more stable retail operations may look enticing but is hard to do without upending short-term returns. Still, the currently favoured suggestion of cutting less profitable investment bank clients sounds equally tricky, and might only shave at most a tenth off Barclays’ 219 billion pounds of corporate and investment bank risk-weighted assets. At Credit Suisse-inflated UBS (UBSG.S), which trades near book value, investment bank RWAs are 25%. Even getting Barclays’ corporate and investment RWAs back to 50% of the total would involve shrinking them by over a fifth.

Persons: Venkatakrishnan, Aimee Donnellan, Julius Baer’s, Warren Buffett, George Hay, Streisand Neto Organizations: Reuters, Barclays, Barclays ’, Deutsche Bank, Credit Suisse, UBS, X, Thomson Locations: reallocating

NEW YORK (AP) — Julius Randle had 25 points and 20 rebounds, RJ Barrett scored 16 points, and the New York Knicks advanced to the quarterfinals of the NBA In-Season Tournament with a 115-91 victory over the Charlotte Hornets on Tuesday night. The Knicks missed their chance to win Group B when the Milwaukee Bucks beat the Miami Heat to finish unbeaten in pool play. But the Knicks took the wild-card spot in the Eastern Conference by tiebreaker because of their point differential in the preliminary round. Reserves Immanuel Quickley scored 23 points and Josh Hart chipped in 17 as the New York bench outscored Charlotte’s 50-35. Randle and Barrett combined for 28 points to lead the Knicks to a 53-44 lead at halftime.

Persons: — Julius Randle, RJ Barrett, Immanuel Quickley, Josh Hart, Brandon Miller, Mark Williams, LaMelo Ball, Miles Bridges, Randle, Barrett Organizations: New York Knicks, NBA, Charlotte Hornets, Knicks, Milwaukee Bucks, Miami Heat, Eastern Conference, Bucks, Charlotte’s, Hornets, Brooklyn Nets, Detroit Pistons Locations: New York, York

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