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☆ Musk’s X cashes in on ‘superspreaders’ of Israel-Hamas misinformation, new report finds
▼ + stars: | 2023-10-19 | by ( Donie O'Sullivan | ) edition.cnn.com time to read: +3 min

NewsGuard identified seven accounts it describes as “misinformation superspreaders,” which have shared widely debunked claims about the conflict. Verified users are also eligible to receive payments from the platform, financially incentivizing posts from the users who are actively spreading misinformation. The group said 186 of the 250 posts were sent by premium X accounts. Soon after NewsGuard published its report Thursday, Musk posted on X that the company “should be disbanded immediately.” CNN has reached out to X and Musk for further comment. In May, there was a brief dip in the stock market after verified accounts on X shared fake images of a purported “explosion” near the Pentagon.

Persons: NewsGuard, ” NewsGuard, Musk, ”, Linda Yaccarino Organizations: CNN, Elon, Twitter, Hamas, ” CNN, European Union, EU, Meta, X, Pentagon Locations: Israel

☆ There's a Catch If You Wait to Buy Your EV Until 2024
▼ + stars: | 2023-10-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

The rules for how electric car buyers receive federal tax credits have changed. But there are caveats that EV shoppers should be aware of, experts say. Throughout 2023, car shoppers have been able to take advantage of revised EV tax credits incentivizing them to buy plug-in. But instead of receiving a rebate, they'd lose whatever amount of the used EV tax credit they were owed, if they owed fewer taxes than that. But shoppers should also beware that dealers could drive used EV prices up next year, given that the discount rules might incentivize shoppers to buy.

Persons: —, you'd, Liz Najman, Akshay Honnatti Organizations: Service, EV you've, Dealers, IRS, Tesla, Shoppers Locations: EY Americas

☆ World Bank governors endorse 'liveable planet' vision - German minister
▼ + stars: | 2023-10-12 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

MARRAKECH, Morocco, Oct 12 (Reuters) - World Bank shareholders on Thursday endorsed further reforms and a new vision statement committing the multilateral development bank to work for "a world free of poverty on a liveable planet," German Development Minister Svenja Schulze said. "With the reform, we will make the World Bank into a better bank that uses its funds in a more targeted way," she said. "The World Bank will be able to provide more funds for poverty reduction and climate action." The World Bank would begin piloting this option for small states that are particularly affected by climate change, she said. Schulze said the bank's shareholders would push on to enact reforms and improvements at other development banks.

Persons: Svenja Schulze, Schulze, Ajay Banga, Banga, Andrea Shalal, Andrew Cawthorne, Jan Harvey, Mark Porter Organizations: World Bank, IMF, International Monetary Fund, Bank, MasterCard, Thomson Locations: MARRAKECH, Morocco, United States, Germany, France, Canada, Netherlands

☆ Valerie Rivera, CFP, on how to help more Americans succeed as first generation wealth builders
▼ + stars: | 2023-10-10 | by ( Kiley Lambert | ) www.cnbc.com time to read: +5 min

Rivera recently shared her thoughts and expertise on several topics ahead of the CNBC FA Summit on October 12. Prior to FirstGen Wealth, Rivera previously worked at primarily large wealth-management firms including AllianceBernstein, Merrill Lynch and TIAA, serving clients with $5-10 million of net worth. CNBC: What advice would you give financial advisors who are trying to find more clients among what could be considered traditionally underserved communities? This isn't just about numbers; it's about creating a financial foundation that supports the life you want to live. Rivera: The financial planning space has been this rigid system of serving a specific demographic in a box.

Persons: Rivera, Merrill Lynch, It's, I've, let's Organizations: CNBC, Summit, AllianceBernstein, CNBC's Locations: Latina, TIAA, ShoreBank

☆ Social media has never felt more dangerous
▼ + stars: | 2023-10-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Social media should, by now, be a more reliable place to follow world events. AdvertisementAdvertisementOver the course of the last two days, millions have witnessed the Middle East's most sensitive conflict take its latest violent turn through social media. It's actually footage from the Syrian War posted online in 2020, per Sardarizadeh and a Community Notes response to the post. Thread: Online misinformation about the conflict between Hamas and Israel - day threeThis video doesn't show a salvo of rockets fired by Hamas towards Israel. X is almost 20 years old, older than some of the media outlets covering the conflict right now.

Persons: Elon Musk, —, Shayan, Mario Nawfal, It's, — David Aaronovitch, Elon Organizations: Service, Hamas, BBC, Twitter, Elon Locations: Israel, Gaza, Chicago

☆ Q&A With the Sustainability Chief of Oilfield-Services Firm SLB
▼ + stars: | 2023-10-05 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +9 min

The German native joined SLB, formerly known as Schlumberger , in 2021 as its chief strategy and sustainability officer. Katharina Beumelburg, chief strategy and sustainability officer of SLB. Beumelburg: This push toward lowering carbon emissions in the oil-and-gas industry is a major change. The other side is our transition technology portfolio that focuses on bringing the carbon emissions at our customers down. Carbon capture and storage is the obvious short-term solution to reduce carbon emissions, one where the technology is ready, where we know what to do.

Persons: Katharina Beumelburg, SLB, Beumelburg, SLB Beumelburg, Johan Rockström, Rochelle Toplensky Organizations: Sustainability, Siemens, SLB, Schlumberger, Pro, WSJ, Potsdam Institute, Business, Microsoft, Saudi Aramco, Linde, Rochelle, rochelle.toplensky@wsj.com Locations: Greenland, Paris, Texas, Europe, Australia, Japan, South Korea, Davos

The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.

Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas

☆ 5 ways China's trying to get people to have more babies — from cash incentives to cracking down on the 'bride price'
▼ + stars: | 2023-10-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

In 2022, China's population started shrinking for the first time in six decades. The push for marriage and babies comes after China last year saw a record low of 6.83 million marriages registered. Here's how China has tried to get its people to have more babies over the past two years. Wenzhou, a city in southeast China, is offering would-be parents up to 3,000 yuan in subsidies per child. In August, a county in eastern China started offering couples 1,000 yuan in cash if the bride was 25 years old or younger, according to a post on its official WeChat account.

Persons: —, Trip.com Organizations: Service, United Nations, Technology, QiaoYin City Management, China Women's Federation, Authorities, Bloomberg Locations: China, Hangzhou, East China, Wenzhou, Shanghai, Shanxi, Beijing, Zhejiang, Provinces, skewing, Jiangxi, Hebei —, Sichuan, Western China

☆ How an end-to-end payments solution could be your business' secret weapon
▼ + stars: | 2023-10-03 | by ( Sponsor Post | Created Insider Studios With Paypal | ) www.businessinsider.com time to read: +8 min

By investing in a full suite of integrated payment solutions, businesses can become more agile and improve the buying experience for customers. Through effective targeting, businesses can help customers discover their product or service by showing up where they already are, like on social media platforms. Quick Tip: Watch the video below to see how an integrated payments platform can help you strengthen your payments ecosystem and drive revenue. Consumers crave transparency, so ensure a frictionless customer experience at checkout by offering all purchase costs up front. 1Forrester Consulting survey commissioned by PayPal, PayPal Evolution of commerce insights 2023. n=5,036, 5 markets: the US, UK, Australia, Germany and France.

Persons: it's, — Organizations: Forrester Consulting, PayPal, Insider Studios, 1Forrester Consulting Locations: UK, Australia, Germany, France

☆ Biden's top economist says the key to ending the housing crisis is giving cities and developers monetary incentives to build more affordable homes
▼ + stars: | 2023-10-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Biden's top economist says high housing costs are a big part of economic pessimism in the US. A severe housing shortage is the main culprit for steep housing costs. In May, Biden unveiled a "Housing Supply Action Plan," which includes efforts to incentivize denser development and more affordable housing construction. The second way Biden is working to lower housing costs is helping developers with costs by expanding tax credits. The low-income housing tax credit subsidizes purchasing, building, and renovating affordable housing — and it's broadly popular among a variety of interests.

Persons: Jared Bernstein, —, We've, Bernstein, Biden Organizations: US, Council, Economic, Service, of Economic Advisers, Institute, Biden Locations: Washington, Congress

☆ 'Just shut your mouth:' Populist Republicans back UAW workers' demands while slamming union leadership
▼ + stars: | 2023-09-26 | by ( Bryan Metzger | Nora Naughton | ) www.businessinsider.com time to read: +11 min

Hawley and Vance support striking auto workers, but they're not on the same page as union leadership. AdvertisementAdvertisementAs strikes at auto manufacturing plants continue across the country, some populist-minded Republicans are breaking from their party's long-standing orthodoxies and backing the United Auto Workers' demands. Last week, Fain even slammed Donald Trump as part of the "billionaire class" following the news that the former president would address union workers in Michigan this week. So far, the only company that has figured out how to squeeze consistent profits out of electric cars is Tesla, which does not use more union labor. The union is now aiming to rebuild its reputation and influence in automotive labor and the labor movement writ large.

Persons: Hawley, Vance, they're, It's, —, what's, Sen, JD Vance, Ohio, Josh Hawley, Biden, Shawn Fain, They've, Fain, Donald Trump, Sherrod Brown, Brown, we've, Detroit's Ford, Matt Wegener, Wegener, EVs, Charmonique Demings, Trump —, Trump Organizations: PRO, Service, United Auto Workers, Republicans, UAW, GM, Stellantis, Biden's, Democrat, Michigan Assembly, Ford's Michigan, Trump, US, Detroit —, National Labor Relations Board, Supreme, Bloomberg, Biden, Battery, EV, Volkswagen, Tesla, Republican, Ford, Democratic, Democratic Party, American Locations: Josh Hawley of Missouri, China, Wentzville , Missouri, Michigan, Ohio, Detroit, Trump's Michigan, States, Mexico, Canada, Missouri

Medicaid, the federal and state health insurance program for the poor, requires states to provide dental coverage for children but not adults. While dental care often is seen as routine, the poor often go without any care for years or even decades. In New Hampshire, the state is spending $33.4 million over 12 months to provide dental care to its 88,000 Medicaid recipients. Andy Beshear pressed ahead with emergency regulations ensuring that about 900,000 Kentuckians would continue having access to dental care after the Republican-led legislature rejected his proposal. A mother of five, she figured dental care would take away from spending on her children.

Persons: Carlton Clemons, ”, Cindy, Victor Wu, don’t, Rhonda Switzer, ” Switzer, Nadasdi, Joe Schapiro, can’t, Andy Beshear, Heather Taylor, Richard M, “, Ryan O’Neill, ” O'Neill, Danielle Wilkes, Renee Pentecost, Wilkes, I’m, Jasmine Webb, Pentecost, “ I’m, Bruce Schreiner, Robert Wood Johnson Organizations: Social Security, Meharry Medical College School of Dentistry, M University, for Disease Control, Interfaith Dental, CareQuest Institute, Oral Health, New Hampshire Democratic, Democratic, Republican, Rhode, American Dental Association . Illinois, Fairbanks School of Public Health, Indiana University, Tennessee Family Dental, Medicaid, ”, Associated Press, Associated Press Health, Science Department, Robert Wood Johnson Foundation, AP Locations: Tenn, Nashville , Tennessee, Tennessee, Texas, United States, Nashville, Murfreesboro , Tennessee, Hawaii , Tennessee , Kentucky, Michigan, Maryland, New Hampshire, Kentucky, Virginia, Kansas, Texas , Alabama , Mississippi , Utah, Louisiana, New Jersey, American Dental Association . Illinois , New York , Ohio, Oregon, Alaska, North Dakota, Delaware, Ashland , Tennessee, Frankfort , Kentucky

☆ Ukraine's new defense minister says he wants to rebuild the country's military industrial complex
▼ + stars: | 2023-09-23 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

Ukraine's new defense minister says the country is focusing on increasing local arms production. In the meantime, the US has announced another boost to artillery shell production to aid Ukraine. Now, two weeks into the job, Umerov said one of his top priorities is to rebuild Ukraine's cache of ammunition by ramping up local production, using local manufacturers whenever possible, The Economist reported. Umerov said he plans to boost local production by reforming state enterprises and incentivizing private arms manufacturers, which make up between 20% and 30% of local production, according to The Economist. Under Umerov, those private manufacturers could eventually account for as much as 80% of local output within five years, Oleksandr Kamyshin, Ukraine's minister of strategic industries, told the outlet.

Persons: Rustem Umerov, Umerov, Bill LaPlante, Oleksandr Kamyshin Organizations: US, Service Locations: Ukraine, Wall, Silicon, Russia

☆ New York City's mayor is proposing major policy changes to lower housing costs and build 100,000 new homes
▼ + stars: | 2023-09-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

New York City Mayor Eric Adams announced his plans for major new housing policy reforms. The proposal aims to create 100,000 new homes, addressing the housing shortage and sky-high costs. Over the last decade alone, New York City has created 800,000 new jobs, but just 200,000 new units of housing, he said. Another key reason New York City has failed to build enough housing for decades: community opposition. Kathy Hochul failed to get her own housing reforms passed by the state legislature this year.

Persons: Eric Adams, we're, Adams, Kathy Hochul Organizations: York City, Service, Manhattan Community College, New, Local, New York Gov Locations: York, Wall, Silicon, New York City

MIDDLETOWN, N.J. (AP) — Governments, organizations and businesses have set ambitious goals to combat climate change. Shawn LaTourette, New Jersey's environmental protection commissioner, hesitates to use the word “mandate” in describing the state's plans. Many of the world's countries signed the Paris climate accords, obligating them to reduce greenhouse gas emissions to certain levels. Anjuli Ramos, New Jersey director of the Sierra Club, agreed that meeting climate goals requires urgent action. A document released Tuesday said that by 2050, at least 90% of the state's residential and commercial buildings must be electrified to meet New Jersey's clean energy and climate goals.

Persons: Shawn LaTourette, ”, —, John Burzichelli, ” Ray Cantor, Rishi Sunak, Anjuli Ramos, “ It's, “, ‘ We’re, Wayne Parry Organizations: —, Democrat, New, New Jersey Business, Industry Association, British, Sierra Club, San Francisco and New, Twitter Locations: MIDDLETOWN, N.J, New Jersey, Shawn LaTourette ,, Jersey, California, Paris, China, India, U.S, Vermont, Rhode Island , Massachusetts , Connecticut, Maine, Michigan, Anjuli Ramos , New Jersey, San Francisco and, San Francisco and New York City, www.twitter.com

But expediting work permits isn’t so easy, either legally or bureaucratically, experts in the process say. It would take an act of Congress to shorten a mandatory, six-month waiting period before asylum-seekers can apply for work permits. Maura Healey, who declared a state of emergency over the migrant influx, wrote Mayorkas that work permits represent “an opportunity to meet employer needs, support our economy, and reduce dependency among new arrivals.” And 19 Democratic state attorneys general wrote Mayorkas that work permits would reduce the strain on government to provide social services. Custom and Border Protection online app have applied for work permits, according to the White House. After he got his temporary work authorization, his boss gave him an extra dollar per hour.

Persons: Eric Adams, Kathy Hochul, Joe Biden, Biden, Hochul, Gilberto Pozo Ortiz, ” Ortiz, “, Brandon Johnson, J.B, Pritzker, Alejandro Mayorkas, Maura Healey, Andre Vasquez, Adams, ” Adams, “ We’re, Muzaffar Chishti, noncitizens, Elden Roja, honked, Roja, Jose Vacca, Elliot Spagat Organizations: Gov, Democratic, Homeland Security Department, Illinois Gov, Homeland, Massachusetts Gov, City Council’s, Refugee Rights, New, Republicans, Migration Policy Institute, Nationwide, Custom, Protection, Federal, U.S, CBP, Associated Press Locations: ALBANY, N.Y, New York City, Mexico, Cuba, New York, Chicago, City, U.S, Venezuelan, Colombia, Texas

☆ DeSantis Slams Biden Climate Policy: ‘An Agenda to Control You’
▼ + stars: | 2023-09-20 | by ( Anjali Huynh | More About Anjali Huynh | ) www.nytimes.com time to read: +2 min

Steven Cheung, a Trump spokesman, used expletives in calling Mr. DeSantis a “candidate that just steals from President Trump’s policy book” in a post on X, formerly known as Twitter, during the governor’s remarks. In a lengthy, six-pronged policy outline, Mr. DeSantis promised to remove subsidies for electric vehicles, take the U.S. out of global climate agreements — including the Paris accords — and cancel net-zero emission promises. He also vowed to increase American oil and natural gas production and “replace the phrase climate change with energy dominance” in policy guidance. His remarks — delivered above the sounds of heavy machinery — paired standard Republican energy policy, blasting foreign energy dependence and blue state regulations, with criticism of the Biden administration’s focus on reducing carbon emissions and incentivizing clean energy. The Biden campaign criticized Mr. DeSantis’s plan.

Persons: Steven Cheung, DeSantis, Trump’s, ”, George W, Bush, —, Biden, DeSantis’s, ” Ammar Moussa, Mr, autoworkers Organizations: Trump, Twitter, —, MAGA Republican Party, United Auto Workers Locations: Paris

Loved ones, some holding small American flags, enveloped them in hugs and exchanged greetings in English and Farsi, the main language of Iran. Iranian Foreign Ministry spokesman Nasser Kanaani said two of the Iranian prisoners will stay in the U.S. Meanwhile, Nour News, a website believed to be close to Iran’s security apparatus, said two of the Iranian prisoners were in Doha for the swap. In his statement, Biden demanded more information on what happened to Bob Levinson, an American who went missing years ago. The Biden administration also announced fresh sanctions on former Iranian President Mahmoud Ahmadinejad and the Iranian Ministry of Intelligence.

Persons: Joe Biden, Siamak Namazi, ”, Babak, Baquer, “, Biden, Iran’s, Ebrahim Raisi, ” Raisi, — Siamak, Emad, Tahbaz —, Timmy Davis, Namazi, Effie Namazi, Vida Tahbaz, Nasser Kanaani, Nour, Mehrdad Ansari, Reza Sarhangpour Kafrani, Donald Trump, Mitch McConnell, ” Biden, Bob Levinson, Mahmoud Ahmadinejad, Neda, ___ Gambrell, Jo, Nasser Karimi, Amir Vahdat, Matthew Lee, Paul Haven, Aamer Madhani, Michelle Phillips, Eric Tucker, Farnoush Amiri Organizations: WASHINGTON, Republican, Democratic, United Nations General Assembly, U.S, South, Iranian Foreign Ministry, Nour News, Mideast, Social, Iranian Ministry of Intelligence, Embassy, Associated Press Locations: Iran, Fort Belvoir , Virginia, Tehran, Doha, Qatar, New York, America, Persian, U.S, Strait, Hormuz, United States, South Korea, Iranian, Korea, Islamic Republic, American, British, Dubai, United Arab Emirates, Washington

☆ Why so many buildings in Singapore are covered in plants
▼ + stars: | 2023-09-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Singapore is trying to fight rising temperatures partly by making its buildings greener, literally. One central strategy is to literally make the city greener by covering rooftops and the facades of buildings with plants. Under its Skyrise Greenery Incentive Scheme, Singapore pays property owners up to 50% of the cost of installing green rooftops and facades. And the green buildings can attract tourists looking to patronize eco-friendly businesses. Toronto passed a law in 2009 requiring that buildings of a certain size have green roofs.

Organizations: Service, Nanyang Technological University Locations: Singapore, Sands, Basel, Switzerland, Toronto

☆ Vision 2030 is Saudi Arabia's grand plan to future-proof its oil-based economy. Experts say it's a huge risk.
▼ + stars: | 2023-08-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +9 min

Vision 2030 is Saudi Arabia's grand plan to transform its economy and reduce its reliance on oil. The centerpiece of Vision 2030 is Neom, which includes a $1 trillion megacity known as The Line. But time is ticking: Seven years after announcing Vision 2030, Saudi Arabia has reached the midway point of its timeline, with just seven years left to the finish line. That said, much of this is being financed by the Public Investment Fund, Saudi Arabia's powerful sovereign wealth fund, which manages assets worth about $700 billion. NeomA key factor that could determine this project's success involves Saudi Arabia's changing appeal to the West.

Persons: Saud, who's, Simon Mabon, Prince Mohammed Bin Salman, Saudi Crown Prince Mohammed bin Salman, McKinsey —, —, Gerald Feierstein, Barack Obama, Feierstein, Richard Callis, Prince Mohammed, Yasir Othman al, Mabon, Prince Mohammed's, there's, Muslimi, they're Organizations: Foreign Policy Center, Saudi Royal Court, REUTERS, Saudi Crown, McKinsey, Middle East Institute, Public Investment Fund, Saudi, SoftBank's Vision, Newcastle United soccer, Newcastle United FC, Saudi Aramco, International Monetary Fund, Chatham House, Neom, United, Bloomberg, Amnesty International Locations: Saudi, Dhahran, Saudi Arabia, London, NEOM, Bandar, Yemen, Ukraine, Riyadh, Jeddah, they're, United Arab Emirates, Neom

☆ Inside Tampa's plan to build more affordable housing as the city's popularity explodes
▼ + stars: | 2023-08-24 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Those worries are pushing the city to look for ways to get developers to build more housing — including affordable units, Tampa Mayor Jane Castor told Insider. In order to ease the hardships that some residents are facing, Castor said the city is incentivizing developers to increase housing supply generally. An influx of residents has helped drive up housing prices Tampa. Typically, such arrangements let builders move ahead with projects if development plans include affordable or workforce housing.

Persons: Jane Castor, somethings, Castor, it's, Walter Bibikow Organizations: Service, Tampa, Getty Images Locations: Tampa, Florida, Wall, Silicon, Austin , Texas, San Francisco, Rent.com, Clearwater Beach, Ixefra, Getty Images Tampa

☆ Malaysia eyes more investments to enlarge EV footprint after landmark Tesla deal
▼ + stars: | 2023-08-23 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Tesla's groundbreaking move with Malaysia is a boost to Southeast Asia's place in the EV supply chain and the first deal under the country's Battery Electric Vehicle Global Leaders initiative. There are also plans for Tesla to embark on EV battery manufacturing in Malaysia. Anwar said Malaysia is open to more EV investments, including from Chinese automakers. Tesla Inc. signage during a launch of company's Model Y electric vehicle in Kuala Lumpur, Malaysia, on Thursday, July 20, 2023. Building readinessStill, Anwar was hesitant to say a full electric vehicle assembly line is in the pipeline.

Persons: Tesla, Anwar Ibrahim, CNBC's Martin Soong, Anwar, Elon Organizations: country's, Vehicle Global, U.S, EV, Bumiputeras, CNBC, Tesla Inc, Bloomberg, Getty, IT, Zhejiang, Infineon Technologies, Proton Locations: Malaysia, Southeast Asia, Putrajaya, Kuala Lumpur, China, Shanghai, Selangor, Malay, Tanjong Malim, Perak, Kedah, Geely

☆ Biden's climate law has led to 86,000 new jobs and $132 billion in investments, new report says
▼ + stars: | 2023-08-14 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

More than 270 new clean energy projects have been announced since the passage of the Inflation Reduction Act (IRA), with private investments totaling $132 billion, according to the report. These investments are expected to be accompanied by more than 86,000 jobs, including 50,000 jobs related to electric vehicles. The Inflation Reduction Act “is not only working to strengthen supply chains but also to boost domestic manufacturing and create new jobs,” Bank of America said in the report. The nearly $370 billion clean energy and climate package, which passed on a party-line vote, was the largest climate investment in US history. The law is driving the most clean energy job growth in Georgia, South Carolina, Nevada and Tennessee.

Persons: it’s, Joe Biden, Biden, ” Organizations: New, New York CNN, of America, ” Bank of America, White, Bank of America, Washington Post Locations: New York, EVs, Georgia , South Carolina , Nevada, Tennessee, Wisconsin

☆ AI is going to eliminate way more jobs than anyone realizes
▼ + stars: | 2023-08-14 | by ( Emil Skandul | ) www.businessinsider.com time to read: +16 min

We didn't see the internet coming, but AI is within viewThe adoption of groundbreaking technology is often hard to predict. The World Economic Forum estimated 83 million jobs worldwide would be lost over the next five years because of AI, with 69 million jobs created — that leaves 14 million jobs that will cease to exist during that timeframe. In the US, the knowledge-worker class is estimated to be nearly 100 million workers, one out of three Americans. The small and large compounding effects of productivity growth across many industries are central to the growth trajectory and the long-run effects of AI. This is an alarmingly trivial amount for an economy of $25 trillion GDP and over 150 million workers.

Persons: Goldman Sachs, Joseph Schumpeter, Bill Gates, David Letterman, Paul Krugman, Erik Brynjolfsson, —, Brynjolfsson, Robert Solow, Robert Gordon, provocatively, It's, Gordon, David Autor, Maria Flynn, Flynn, –, Georgia –, Emil Skandul, Tony Blair Organizations: McKinsey, Newsweek, Stanford University, Microsoft, Amazon, Cisco, Economic, International Labor Organization, Organization for Economic Co, Development, MIT, Congressional, Office, Department of Labor, Tony Blair Institute Locations: Washington, Singapore, New York, Georgia

☆ Chinese online retailer Pinduoduo has a 'hyper-aggressive' culture with hours surpassing a '996' schedule, analysts write
▼ + stars: | 2023-08-11 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Temu's sister company Pinduoduo may have a "9127" culture, Bernstein analysts wrote. This is a play on "996" work culture, which encourages work from 9 a.m. to 9 p.m., six days a week. Temu sister company Pinduoduo is known for having an exceptionally intense workplace culture, Bernstein analysts wrote in a note published this week. "996" is a reference to a work culture that encourages tech employees to work from 9 a.m. to 9 p.m., six days a week. While Shein remains ahead of Temu in terms of buyer awareness, Temu sees high buyer retention rates, the Bernstein analysts noted.

Persons: Temu's, Bernstein, Temu, Jack Ma, Richard Liu Qiangdong, Robin Zhu, Pinduoduo, Shein Organizations: Morning, PDD Holdings, Pinduoduo, Representatives, Local Locations: China, Shanghai

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