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☆ Britain's Labour faces an uphill battle as it looks to rein in AI's key players
▼ + stars: | 2024-07-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

By taking aim at the most powerful AI models, Labour would impose tighter restrictions on companies such as OpenAI, Microsoft , Google , Amazon , and AI startups including Anthropic, Cohere and Mistral. Matthew Houlihan, senior director of government affairs at Cisco, said any AI rules would need to be "centered on a thoughtful, risk-based approach." Even so, a U.K. AI law would be a step above the U.S., which currently doesn't have federal AI legislation of any kind. Sirion's Liu said one thing he's hoping the government doesn't do, is restrict open-source AI models. Herman Narula, CEO of metaverse venture builder Improbable, agreed that restricting open-source AI innovation would be a bad idea.

Persons: Keir Starmer's, King Charles III, doesn't, Starmer's, Matt Calkins, Appian, Lewis Liu, Liu, Rishi Sunak, Peter Kyle, Kyle, Zahra Bahrololoumi, Matthew Houlihan, Bill, Chris Holmes, Holmes, Matthew Holman, Cripps, Holman, Sirion's Liu, Herman Narula, Narula Organizations: Future Publishing, Labour, European Union, Microsoft, Google, CNBC, Conservative, BBC, AI Safety Institute, Cisco, Authority, EU, AI Safety, Tech, London Tech Week Locations: Jiangsu province, China, Ireland, Salesforce, U.S

☆ Walmart has the advantage for back-to-school — and that's really bad news for this retail stock
▼ + stars: | 2024-07-19 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +10 min

Walmart shares have outperformed the market. Analysts remain overwhelmingly bullish on the stock with more than 80% of analysts rating shares a buy or overweight, according to FactSet. Target shares reflect the strain of the competition. And if Walmart continues to win over wealthier customers, that's more bad news for Target. On Tuesday, KeyBanc Capital Markets analyst Bradley Thomas reiterated that Walmart remains one of his top stock ideas.

Persons: Lindsay Rosner, Piper Sandler, Peter Keith, Keith, Daniel Kurnos, Kurnos, FactSet, Alexis Deladerriere, JLL, Christopher Horvers, JPMorgan's Horvers, Cowen, Oliver Chen, Chen, hasn't, Bradley Thomas, Thomas Organizations: Walmart, Target, Goldman Sachs Asset Management, Analysts, Keith, P Retail, Amazon, Microsoft, Apple, Adobe Analytics, Adobe, Amazon's, Costco, Amazon Prime, Sam's, Paramount, KeyBanc Capital Locations: Wednesday's

☆ Warner Bros Discovery (basically) admits its merger didn't work
▼ + stars: | 2024-07-18 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

That's basically the pitch the management of Warner Bros. Discovery is floating to investors today, via a story in the Financial Times: "A dramatic plan to split its digital streaming and studio businesses from its legacy television networks." And would the money from those declining networks be enough to service all that debt? Apple, most notably, inquired about buying HBO way back when its parent company was called Time Warner. If WBD can't split the company the way it's supposedly proposing now, it will end up selling off assets (maybe CNN?

Persons: That's, WBD, I've, hasn't, Pimple Popper, HBO hasn't, Jessica Reif Ehrlich, Rich Greenfield, you'll, it's, Time Warner, David Zaslav —, Donald Trump, he's, Zaslav Organizations: Service, Warner Bros, Financial, Business, HBO, Max, CNN, Netflix, Big Tech, Apple, Time, Sun, Paramount

Wolfe Research initiated coverage of Amazon with an outperform rating, calling for nearly 30% upside. 7:03 a.m.: Goldman Sachs increases Spotify price target Goldman Sachs thinks Spotify will surpass Wall Street's second-quarter earnings forecasts. The firm and increased its price target to $320 from $317 on shares while maintaining a neutral rating. The analyst upgraded the e-commerce stock to buy from neutral and raised his price target to $82 per share from $78. Analyst Alan Gould downgraded the forum social network stock to hold from buy and reiterated a $75 per share price target.

Persons: Wolfe, Goldman Sachs, Wall, Eric Sheridan, Brian Evans, Shopify, Brad Sills, Sills, — Brian Evans, Jefferies, Surinder Thind, Piper Sandler, Peter Keith, Keith, DLTR, Alan Gould, Gould, Shweta, Khajuria, Fred Imbert Organizations: CNBC, Wolfe Research, Bank of America, Spotify, Jefferies, EPAM, EPAM Systems, Trump, Biden, Democrat, Advertising, Cloud Computing, Health, Business, Amazon Logistics Locations: Reddit, Monday's

☆ Vivek Ramaswamy told BuzzFeed to change. It hasn't. Now what?
▼ + stars: | 2024-07-15 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Read previewHere's an update from Vivek Ramaswamy's attempt to take over, or at least influence, BuzzFeed: Nothing's happening. There's a reason the non-news is worth noting today, though: It's July 15, the deadline Ramaswamy set for BuzzFeed to expand its board of directors by adding three new members he proposed. AdvertisementLast month, Ramaswamy and two of his proposed directors met with BuzzFeed CEO Jonah Peretti via conference call, which people on both sides of the table described as cordial. And if Ramaswamy has any plans to ratchet up pressure on BuzzFeed, he has yet to disclose them. That is: We're still wondering if Ramaswamy has spent millions on BuzzFeed because he wants attention, or wants to make money, or maybe both.

Persons: —, Vivek Ramaswamy's, Ramaswamy, There's, Jonah Peretti, there's, Chris Balfe, podcaster Patrick Bet, Clay Travis, Vivek, Tricia McLaughlin, Ramaswamy's, he's Organizations: Service, Republican, Business

☆ This Elon Musk crackdown is starting to look ridiculous
▼ + stars: | 2024-07-12 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Everyone has complaints about the way Elon Musk runs Twitter. Add European regulators to that list: They don't like the way he's changed the service's "blue check" program for "verified users." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Elon Musk, — Organizations: Elon, Service, Business

☆ These new WhatsApp TV ads tell you a lot about the company's growth plans
▼ + stars: | 2024-07-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewTen years ago, Meta bought WhatsApp for some $21 billion. A few years ago, it announced that WhatsApp had 2 billion users around the world, and that's about it. That's where Meta has started running ads promoting the messaging platform, using the cast of "Modern Family," the long-running sitcom. This isn't the first time Meta has advertised WhatsApp on TV. I ran that thesis by Carl Woog, who runs comms for WhatsApp, and he … said I had it right: WhatsApp thinks middle America is a growth market.

Persons: —, Meta, Meta's, WhatsApp, Carl Woog, …, Woog Organizations: Service, Facebook, Business, Meta, Hulu, Prestige, NBA Locations: America, Miami , New York, Seattle

☆ Walmart: Here's why Piper Sandler is 'overweight' on the stock
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart: Here's why Piper Sandler is 'overweight' on the stockPeter Keith, Piper Sandler senior research analyst, and CNBC's Mellisa Repko join 'Power Lunch' to discuss which retailer is winning between Walmart and Target.

Persons: Piper Sandler, Peter Keith, Repko Organizations: Walmart, Target

☆ Warner Bros. Discovery CEO David Zaslav would like a new president, too
▼ + stars: | 2024-07-10 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Media and tech bosses hate Joe Biden's antitrust policies, which they think are holding them back from buying and selling each other. Not WBD CEO David Zaslav, though. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Discovery CEO David Zaslav has no opinion about who should win the US presidential election this fall. But he got plenty close Tuesday at Sun Valley, the annual media and tech mogul conference:Via Bloomberg:

Persons: Joe, David Zaslav, —, Joe Biden, didn't Organizations: Service, Warner Bros, Discovery, Bloomberg Locations: Sun

Goldman Sachs raised its price target on Tesla, but it still sees a a decline for the electric vehicle maker. Analyst Chris Pierce upgraded his rating to buy from hold and assigned a $160 price target on Carvana, implying shares could jump 27.3%. His $77 price target on Walmart suggests the stock could jump nearly 10.2% over the next 12 months. Analyst Peter Keith assumed coverage of the retailer with a neutral rating and $156 price target, suggesting shares can add 5.7% over the next year. LLY YTD mountain LLY year to date — Pia Singh 5:51 a.m.: Goldman raises Tesla price target, but still sees stock slide Don't expect Tesla's recent momentum to last, according to Goldman Sachs The bank raised its price target on the electric vehicle maker to $248 from $175.

Persons: Tesla, Goldman Sachs, Eli Lilly, Needham, Chris Pierce, Pierce, — Pia Singh, Jefferies, Corey Tarlowe, Tarlowe, Piper Sandler, Peter Keith, Keith, Carter Gould, Gould, Goldman, Mark Delaney, Fred Imbert Organizations: CNBC, Barclays, Jefferies, Walmart, Fox Robotics, EV, Tesla Locations: Tuesday's

☆ Paramount's new owner says he's building a tech company. Come again?
▼ + stars: | 2024-07-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

But he is definitely leaning on the idea that he's building a media company that is also a tech company. That's partly because David Ellison isn't a tech mogul. But this reminds me a bit of the 2015 era when digital publishers like BuzzFeed and Vox Media told investors they weren't media companies but tech companies that made media. The bigger problem with the tech + media pitch isn't that tech and media aren't intertwined. AdvertisementThe real problem that Paramount — and just about every other big media company — has these days isn't that its tech isn't good enough.

Persons: —, David Ellison, Ellison, he's, David Ellison's, Larry Ellison —, We've, David Ellison isn't, Steve Jobs, Jobs, John Lasseter, it's, He's, Lasseter, That's, Rich Greenfield, It's Organizations: Service, Hollywood, Paramount, Media, Technology Enterprise, Business, Oracle, Apple, Pixar, Disney, Vox Media, Netflix, YouTube, Lightshed

☆ Waymo's robotaxis are better than some San Francisco drivers
▼ + stars: | 2024-07-07 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +11 min

Waymo's autonomous driver is pretty damn smart, and aside from a few hesitations, the robotaxi offers a smooth, comfortable experience with competitive pricing against other ride-hailing apps. Lloyd Lee/Business InsiderWaymo's 5th generation autonomous driver could be best described as a safe but not an annoyingly cautious driver. It did the same thing to give itself more room when it detected a large parked bucket truck slightly in Waymo's lane. The expectation I had that the Waymo driver would be stiff, as the term "robot taxi" might suggest, was dispelled throughout the rides. The spokesperson said it's also possible I failed to notice something the Waymo car picked up.

Persons: —, San Francisco —, Uber, Lloyd Lee, Spokespeople, Lyft, Andrew Macdonald, Uber's, Waymo, Waymo's, BI's Peter Kafka, it's Organizations: Service, Business, Financial, SF, PACE, Jaguars Locations: San Francisco, Los Angeles, Austin, Pine

☆ Denmark to charge $100 per cow in world’s first carbon tax on farming
▼ + stars: | 2024-06-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Dairy farmers in Denmark face having to pay an annual tax of 672 krone ($96) per cow for the planet-heating emissions they generate. The country’s coalition government agreed this week to introduce the world’s first carbon emissions tax on agriculture. On average, Danish dairy cows, which account for much of the cattle population, emit 5.6 tonnes of CO2-equivalent per year, according to Concito, a green think tank in Denmark. Using the lower tax rate of 120 krone results in a charge of 672 krone per cow, or $96. With the tax break in place, that levy will rise to 1,680 krone per cow in 2035 ($241).

Persons: Lars Lokke Rasmussen, “, ”, Torsten Hasforth, Landbrug, Peter Kiær, ” Peder Tuborgh, Kristian Hundeboll Organizations: London CNN — Dairy, ”, United Nations, Food, Agriculture Organization, CNN, Arla Foods, DLG, Initiative Locations: Denmark, Danish, Europe

☆ Why Piper Sandler is bullish on Ollie's
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Piper Sandler is bullish on Ollie'sPeter Keith, Piper Sandler senior research analyst, joins 'The Exchange' to discuss why Piper Sandler believes Ollie's' stock has potential amid recent weather conditions.

Persons: Piper Sandler, Peter Keith, Ollie's

☆ Apple wants you to know it still doesn't like Meta
▼ + stars: | 2024-06-25 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Did Apple and Meta discuss an AI deal? Or is there no AI deal happening between Apple and Meta? download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNews: Apple has talked to Meta, its fierce rival, about an AI deal. Also news: Apple is not talking to Meta about an AI deal, because Meta is a fierce rival.

Persons: — Organizations: Apple, Meta, Wall Street Journal, Bloomberg, Service

☆ BuzzFeed really needs a 'Hot Ones' deal
▼ + stars: | 2024-06-24 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

BuzzFeed is trying to sell "Hot Ones," its hit video show. A deal would help BuzzFeed pay off some — but not all — of its $119 million debt obligation. This comes as Vivek Ramaswamy continues to scoop up BuzzFeed shares. 1: BuzzFeed has been trying to sell "Hot Ones," its hit viral video show, but has yet to make a deal. If BuzzFeed is successful at selling First We Feast, the company that owns "Hot Ones," then it will be in a better position to deal with Ramaswamy.

Persons: BuzzFeed, Vivek Ramaswamy, —, Jonah Peretti, Ramaswamy Organizations: Service, Business

☆ Elon Musk really wants advertisers' money. But he also wants to keep tweeting. He can't have both.
▼ + stars: | 2024-06-20 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

His anti-revenue campaign reached its peak/nadir last fall, when he literally told advertisers to "go fuck yourself." And that's where Musk explained that when he told advertisers to go fuck themselves last year, he didn't mean all advertisers. "It was with respect to freedom of speech," he told Read. AdvertisementMeanwhile, the exodus of big brand advertisers has pushed Twitter ad rates way, way down. And I do shoot myself in the foot from time to time," he told Read.

Persons: —, Elon Musk, Mark Read, Musk, Read, Oliver Darcy, Joe Biden's, Donald Trump, Barack Obama, Joe, Puck, there's, It's Organizations: Service, Elon, Business, Cannes, WPP, Twitter, YouTube, Facebook, CNN, Associated Press, Washington Post, Democratic Party, Republicans, Google, Media Locations: France, Mexico, Washington

☆ Pay TV is in so much trouble that even its one bright spot is dimming
▼ + stars: | 2024-06-18 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Pay TV just suffered its worst quarter in history — a stunning 6.9% drop. The TV industry used to hope that digital services like YouTube TV could make up for losses from regular TV. In fact, YouTube TV just had its first quarterly subscriber loss ever. AdvertisementIf you pay any attention to the TV business, you know that pay TV subscriptions have been falling for years. People who used to pay for TV are cutting the cord, and younger people aren't bothering to sign up for pay TV at all.

Persons: — Organizations: YouTube, Service, MoffettNathanson, Business

☆ Here's another reason for Elon Musk to support Trump
▼ + stars: | 2024-06-17 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

He also seems increasingly interested in Donald Trump, though he won't come out and say he's formally backing him. So here's another reason for him to move more firmly into the Trump camp: The US Securities and Exchange Commission, currently run by Biden appointee Gary Gensler, keeps dogging him. Caveats: The last time the SEC went after Musk, Trump was in the White House, and Trump appointee Jay Clayton was running the SEC. AdvertisementJust as important: The Journal piece includes lots of to-be-sures from legal experts about the difficulty of the SEC winning a case against Musk. But Musk would certainly prefer not having to go to court to find out.

Persons: —, Elon, Joe Biden, Donald Trump, he's, Trump, Biden, Gary Gensler, Tesla, Musk, Jay Clayton Organizations: Service, US Securities and Exchange Commission, Business, SEC, Twitter, SEC hasn't, Musk, Trump

☆ Did Apple just outthink everyone in AI? A chat with tech analyst Ben Thompson
▼ + stars: | 2024-06-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +9 min

When I try to get my head around big, complicated tech questions, I often rely on Ben Thompson, the influential tech analyst who writes the Stratechery newsletter. And that Apple gets the upside of AI without incurring many of the costs and risks other tech players are taking on. AdvertisementPeter Kafka: You seemed pretty enthusiastic about Apple's AI efforts before they announced them on Monday. One is some massive AI breakthrough, such that the phone becomes the commodity, as opposed to Apple making the AI the commodity. Peter Kafka: You've been speculating about whether Apple is paying OpenAI, or OpenAI is paying Apple.

Persons: —, Ben Thompson, Peter Kafka, They're, Tim Cook, Justin Sullivan, Who's, They've, Apple, You've, OpenAI, Sam Altman, Thompson, Mark Gurman Organizations: Service, Apple, Business, Washington Post, Bloomberg, OpenAI Locations: ChatGPT.com

The firm upgraded the ingredients maker to buy from neutral but lowered its price target to $48 per share from $50. "Though these items might not help earnings until 2025, we believe visibility surrounding them could improve in coming months and send the share price higher," he added. Lovallo has a $198 price target for Lennar, reflecting 30.1% in upside. Analyst Raimo Lenschow upgraded the marketing automation stock to overweight from equal weight and upped his price target by $4 to $29. Singlehurst raised her price target to $58 from $54.20, but the new forecast implies nearly 2% downside from Tuesday's close.

Persons: Goldman Sachs, Thomas Palmer, — Brian Evans, Edward Jones, Logan Purk, — Jesse Pound, John Lovallo, Lovallo, — Alex Harring, Oppenheimer, Colin Rusch, Rusch, Alex Bradley, Alex Harring, Raimo Lenschow, Lenschow, Wells, Steven Cahall, Wedbush, Michael Pachter, Pachter, Keith Gill, Piper Sandler, Valvoline Piper Sandler, Peter Keith, Keith, VVV's algo, hasn't, Will Gaertner, Gaertner, Morgan Stanley, Mark Murphy, Keith Weiss, Brent Bracelin, Louise Singlehurst, Singlehurst, Fred Imbert Organizations: CNBC, Analysts, Citi, Diamond Green Diesel, AMD, Devices, Nvidia, UBS, Lennar, KB, Barclays, Wells Fargo, Paramount, GameStop, Products, LSEG, Google, AI, JPMorgan, Oracle Locations: California, Tuesday's, VVV, reaccelerate, ORCL

☆ Is this 1987 video the origins of Apple Intelligence?
▼ + stars: | 2024-06-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: 1 min

There's a scary version of AI where AI takes your job and/or destroys the planet. Then there's the version that's much more chill: AI as a personal assistant who helps you with your tasks — remembers things for you, finds stuff for you, helps you create presentations for work. AdvertisementThe kinder, gentler version is the one Apple showed off yesterday, though we won't really know how it works till it goes live later this year. Right now, all we have to go on is Apple's pre-recorded demo video. This story is available exclusively to Business Insider subscribers.

Organizations: Business

☆ Elon Musk is going to try courting advertisers. Again.
▼ + stars: | 2024-06-11 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Elon Musk, who has a ... complicated relationship with advertisers, is going to appear at a big ad conference. It's pretty standard for tech companies to court advertisers at the Cannes Lions event in France. AdvertisementLast fall Elon Musk told advertisers to go fuck themselves. Maybe he has a different message now: The man who bought Twitter, turned it into "X," and saw his advertising revenue plummet, is heading to the Cannes Lions ad summit in France next week. WPP, one of the world's biggest ad companies, said Musk will appear at an event with WPP CEO Mark Read on June 18.

Persons: Elon Musk, —, Mark Read Organizations: Cannes Lions, Service, Twitter, WPP Locations: France

☆ Apple wants to put a friendlier spin on artificial intelligence, but many users could miss out
▼ + stars: | 2024-06-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at all the takeaways from Apple's big event , including its friendlier spin on artificial intelligence . Related VideoBut first, it's not AI; it's Apple Intelligence. Apple Intelligence — it's AI, just not that AI — is the company's first big swing in the space. Data is the name of the game when it comes to AI, and Apple's iPhones are full of it. However, the Apple Intelligence news and partnership with OpenAI is what really set the billionaire off.

Persons: —, we've, it's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook, Apple, Apple's, Insider's Jordan Hart, Katie Notopoulos, Pro Max, BI's Peter Kafka, Max —, wasn't, Elon Musk, Chelsea Jia Feng, Grzegorz Wajda, Elon, Bernstein, Toni Sacconaghi, Point72, Steve Cohen's, WallStreetBets, Tyler Le, OpenAI, Sarah Friar, Kevin Weil, who's, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Business, Tech, Apple Intelligence, Washington, Getty, Apple, Pro, Elon, OpenAI, Academy Investment, GameStop, Planet Labs, Oracle Locations: Apple's, Chelsea, Silicon, New York, London

☆ Apple is stepping up its Vision Pro pitch to Hollywood after soft sales and mixed response to the headset
▼ + stars: | 2024-06-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewApple is stepping up its efforts to get Hollywood to make content for the Vision Pro as it prepares to roll out the mixed-reality headset internationally to boost sales. Director Jon Favreau brought the dinosaurs on his Apple TV+ show "Prehistoric Planet" to life through a spinoff for Vision Pro. Apple is talking up Vision Pro to talent agencies, filmmakers, and producers to fill the pipeline. Apple TV+ produces some, but not all, of the immersive content that's available on Vision Pro. AdvertisementLike the rest of Apple TV+'s shows and movies, Apple doesn't want controversial content for the Vision Pro lest it undermine sales of its consumer electronics overall.

Persons: —, creatives, James Cameron raved, Jon Favreau, stampeded, Alicia Keys, Chris Parnell, David Manpearl, there's, Parnell, Peter Kafka Organizations: Service, Hollywood, Vision, Business, Apple, Vision Pro, Disney, Netflix, YouTube

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