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☆ OpenAI investors pushing to reinstate Sam Altman as OpenAI's CEO after he was booted from the role: reports
▼ + stars: | 2023-11-19 | by ( Lloyd Lee | Hannah Getahun | ) www.businessinsider.com time to read: +3 min

OpenAI investors are pushing to reinstate Sam Altman, according to Bloomberg and The Wall Street Journal. On Friday, Altman, co-founder of OpenAI, was abruptly removed from his role as CEO. People familiar with the discussions told Bloomberg and The Journal that investors are pressuring the OpenAI's board to reinstall Altman. On Friday, Altman, co-founder of OpenAI, was removed from his role as CEO, blindsiding many within the company and its biggest investor, Microsoft. With Altman out of the company, Mira Murati, OpenAI's chief technology officer and a former Tesla employee, was appointed interim CEO.

Persons: Sam Altman, Altman, Greg Brockman, —, Mira Murati, Sam, Brockman Organizations: Bloomberg, Street, Service, Business, Microsoft, OpenAI, Tesla, New York Times

OpenAI investors are pushing to bring back Sam Altman as CEO one day after he was ousted by the board, according to people familiar with the matter. Sequoia Capital has also been in contact with Altman, a person familiar with knowledge of the matter told CNBC. Sequoia also informed Microsoft that it would back efforts to bring back Altman and Brockman, the person said. The Verge first reported on the talks to bring back Altman. In addition to ousting Altman, the company removed Brockman, the chairman, from his board leadership position but said he would remain as president.

Persons: Sam Altman, Altman, Greg Brockman, it's, Sequoia, Brockman, Altman didn't, Mira Murati Organizations: Microsoft, Tiger Global, Sequoia Capital, CNBC, Sequoia Locations: Silicon Valley, OpenAI

☆ The tech community says Altman's ouster is a 'hostile takeover' and a 'coup.' Here's what we know.
▼ + stars: | 2023-11-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

OpenAI sent shockwaves through the tech world Friday when its board ousted Sam Altman as CEO. NEW LOOK 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 . When Altman logged on to the Google Meet link on Friday, he was joined by the entirety of OpenAI's board, Brockman said. Altman's departure has thrown Cerebral Valley , the moniker for San Francisco's booming AI enclave, into a state of uncertainty.

Persons: OpenAI, Sam Altman, —, It's, Altman, Kevin Roose, Roose, OpenAI's, Greg Brockman —, Greg Brockman, Brockman, Ilya Sutskever, Sutskever, Mira Murati, " Brockman, it's, Annie Wright, Wright Organizations: Service, Microsoft, New York Times, OpenAI, Google, Sheriff Locations: Silicon Valley, OpenAI, Bay

☆ Mira Murati is OpenAI's new interim CEO. Here's what we know about the exec who replaces Sam Altman.
▼ + stars: | 2023-11-17 | by ( Jordan Hart | Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

OpenAI CEO Sam Altman is out, the company's board said late Friday. Mira Murati, OpenAI's chief technology officer, will replace Altman as the interim CEO. "A member of OpenAI's leadership team for five years, Mira has played a critical role in OpenAI's evolution into a global AI leader. Murati joined OpenAI as a researcher in 2018 when the company had just 40 to 50 employees, she told Fortune. "Our goal is to get to AGI, and we want to get there in a way that makes sure that AGI goes well for humanity," Murati told Fortune.

Persons: Sam Altman, Mira Murati, Altman, —, Mira, OpenAI, PATRICK T, FALLON, Murati, ChatGPT, Tesla, Eugene Gologursky, She's, AGI, Getty, Rainer Maria Rilke Organizations: Service, Albania who's, Murati, Dartmouth, OpenAI, Time Magazine, Radiohead Locations: Albania, Murati, AGI, Silicon Valley, Vancouver

☆ Sam Altman, CEO of ChatGPT parent company Open AI, is out after board found he was ‘not consistently candid’
▼ + stars: | 2023-11-17 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

CNN —OpenAI, the company behind the viral chatbot ChatGPT, fired its CEO and founder, Sam Altman, on Friday. The company, in a statement, said an internal investigation found that Altman was not always truthful with the board. ChatGPT launched late last year, making Altman an overnight quasi-celebrity and the face of a new crop of AI tools that can generate images and texts in response to simple user prompts. Google has a rival called “Bard,” and other generative AI tools have been developed in recent months. “I am sure the OpenAI board took this decision after a lot of deliberation,” he said.

Persons: CNN — OpenAI, Sam Altman, shockwaves, Altman, Mr, ” OpenAI, Mira Murati, “, ”, what’s, ChatGPT, “ Bard, Kamala Harris, Joe Biden, OpenAI, Elon Musk, Arun Chandrasekaran, he’s, Murati, Mira, Eric Schmidt, ” Schmidt, ” Reece Hayden, ” Hayden, CNN’s Clare Duffy Organizations: CNN, Fortune, Microsoft, Google, “, White House, Gartner Research, Dartmouth, OpenAI, Tesla, ABI Research Locations: openai, San Francisco, Albania

☆ The tech world reacts in shock to Sam Altman's departure from OpenAI
▼ + stars: | 2023-11-17 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Ex-CEO Sam Altman has left OpenAI — and the tech community is freaking out. AdvertisementOpenAI just sent shockwaves through the tech industry by announcing that Sam Altman is out as CEO — and members of the tech community are freaking out. In response to Altman's departure, members of the tech community are turning to X, formerly known as Twitter, to express their shock. Some techies are even reacting to Altman's departure in sheer disbelief. OpenAI referred Insider to its announcement of Altman's departure when reached for comment.

Persons: Sam Altman, —, Mira Murati, OpenAI, ChatGPT, Altman —, Altman, Pietro Schirano, Matt Wolfe, Eric Schmidt, Kara Swisher, may've, Kambha Organizations: Tech, Service, Google, Arizona State University

☆ David DePape found guilty in Paul Pelosi hammer attack
▼ + stars: | 2023-11-16 | by ( Jeffrey Kopp | Piper Hudspethblackburn | ) edition.cnn.com time to read: +4 min

CNN —A jury has found David DePape guilty on two counts in the violent attack on Paul Pelosi, the husband of former House Speaker Nancy Pelosi, last year in the couple’s San Francisco home. Then-House Speaker Nancy Pelosi ultimately factored the attack into her decision to step down from her leadership post. DePape recalled that he was focused on Nancy Pelosi and that her husband, Paul, was not on his list of targets. He later came to in a pool of blood after being violently struck in the head following a struggle with DePape, Pelosi said. A state case against DePape that includes charges of attempted murder, burglary and assault is expected to go to trial later this month.

Persons: David DePape, Paul Pelosi, Nancy Pelosi, DePape, Pelosi, Nancy Pelosi ”, ”, Jodi, David, Nancy Pelosi’s, “, Paul, I’ll, ” DePape, “ She’s, ” Pelosi, “ I’ve, CNN’s Piper Hudspeth Blackburn, Jack Forrest, Paul LeBlanc, Veronica Miracle Organizations: CNN, San, Prosecutors, San Francisco, FBI, United States Capitol Police Locations: San Francisco, Washington

☆ ECB backs global rules for bonds wiped out in Credit Suisse rescue
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker//File Photo Acquire Licensing RightsFRANKFURT, Nov 16 (Reuters) - The European Central Bank's chief supervisor on Thursday supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS (UBSG.S) earlier this year. The Basel Committee said in a report last month it would review the features of AT1 bonds, including the "loss-absorbing hierarchy". But Credit Suisse's bonds contained a clause allowing authorities the write down those bonds without winding down the bank. This clause is not a feature in bonds issued by European Union banks and the ECB has made clear that it would impose losses on shareholders first.

Persons: Heiko Becker, Andrea Enria, Enria, Pablo Hernández de Cos, Francesco Canepa, Balazs Koranyi, Toby Chopra Organizations: European Central Bank, REUTERS, Rights, Central Bank's, UBS, ECB, Banking Supervision, Basel, Committee, European Union, Thomson Locations: Frankfurt, Germany, Swiss, Basel

☆ David DePape was convicted of attacking Nancy Pelosi's husband in less than a day
▼ + stars: | 2023-11-16 | by ( Olga R. Rodriguez | Associated Press | ) www.businessinsider.com time to read: +6 min

The man who was accused of attacking Nancy Pelosi's husband with a hammer was convicted on Thursday. The October 2022 attack on 82-year-old Paul Pelosi was captured on police body camera footage. The attack on then-82-year-old Paul Pelosi that was captured on police body camera video just days before last year's midterm elections sent shockwaves through the political world. A state trial date will be set during a Nov. 29 hearing, said Randy Quezada, a spokesperson for the San Francisco District Attorney's Office. DePape testified that his plan was to get Nancy Pelosi to admit that she had been lying to the American people.

Persons: Nancy Pelosi's, David Depape, Paul Pelosi, —, David DePape, Nancy Pelosi, bludgeoning Paul Pelosi, DePape, Angela Chuang, Helen Gilbert, Randy Quezada, Detectives, Gavin Newsom, Tom Hanks, Joe Biden's, Hunter Biden, Nancy, Pelosi, Donald Trump Organizations: Service, FRANCISCO, San Francisco, Defense, U.S . Department of Justice, San, San Francisco District Attorney's, Prosecutors Locations: Francisco, California, Canadian, San Francisco District, Washington

LONDON (AP) — Russia's State Duma took a step forward Wednesday towards approving its biggest-ever federal budget which will increase spending by around 25% in 2024, with record amounts going on defense. Part of the Russian budget is secret as the Kremlin tries to conceal its military plans and sidestep scrutiny of its war in Ukraine. Analysts suggest Russia is in third place globally for defense spending behind China and the United States, which spends around $850 billion a year. The main driver of that growth is Russia's war in Ukraine, which is now as important to the Kremlin economically as it is politically. If there is a reduction in military spending, or a need to reduce spending which impacts living standards, it could send shockwaves through the Russian economy and significantly impact ordinary people.

Persons: Vladimir Putin, ”, Richard Connolly, Farida Rustamova, Maksim Tovkaylo, Alexandra Prokopenko, Anton Siluanov, “, Connolly, they’ve, ” Prokopenko, Prokopenko, — — David McHugh Organizations: —, Duma, Kremlin, Royal United Services Institute, Independent, Carnegie Russia Eurasia Center, Russian Central Bank, Finance, Defense, Central Bank Locations: — Russia's, Russia, Ukraine, London, China, United States, Russian, West, India, Berlin, Frankfurt

☆ Want to know what Jerome Powell will do next? Here are the 10 academic journals the Federal Reserve pulls its inflation playbook from.
▼ + stars: | 2023-11-15 | by ( Mark Reeth | ) www.businessinsider.com time to read: +4 min

The key to those predictions is the Federal Reserve and the monetary policy Jerome Powell will enact next year as he fights to get inflation down to a target of 2%. Clearly, anticipating the Fed's next move is far from simple, even for Wall Street pros. While government data is clearly an important source of data for central bankers, a less-understood resource is academia. Understanding which of these resources central bankers rely on can provide insight into upcoming monetary policy moves. That way they could find the signal in all the noise and focus only on the academic journals really driving public monetary policy.

Persons: Jerome Powell, Morgan Stanley, Goldman Sachs Organizations: Wall, Business, Federal Reserve, UBS, Fed, Bank of International

☆ Man arrested on suspicion of manslaughter after UK ice hockey player death
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Ice Hockey - Memorial for Nottingham Panthers' Adam Johnson - Motorpoint Arena, Nottingham, Britain - November 4, 2023 General view during a minutes silence following the passing of former Nottingham Panthers' Adam Johnson REUTERS/Isabel Infantes Acquire Licensing RightsLONDON, Nov 14 (Reuters) - A man has been arrested on suspicion of manslaughter following the death of Nottingham Panthers ice hockey player Adam Johnson who died after suffering serious injuries during a match last month, British police said on Tuesday. Johnson, 29, suffered a fatal injury when his neck was cut by the blade of another player during the match against Sheffield Steelers in Sheffield, northern England. "Adam's death has sent shockwaves through many communities, from our local residents here in Sheffield to ice hockey fans across the world," Horsfall said. Nottingham Panthers will host an "Adam Johnson Memorial Game” on Nov. 18 when members of the team will wear a specially commissioned "AJ47" memorial jersey. The club also paid tribute to Johnson by painting a message on the ice at their home ground reading: "Adam Johnson Forever our 47".

Persons: Adam Johnson, Adam Johnson REUTERS, Isabel Infantes, Johnson, Adam, Becs Horsfall, Horsfall, Farouq Suleiman, Muvija, Frank Pingue, Amy Tennery, William James, Angus MacSwan, Ken Ferris Organizations: Hockey, Nottingham Panthers, Motorpoint, . Police, Sheffield Steelers, United States, National Hockey League, NHL, Thomson Locations: Nottingham, Britain, Sheffield, England, Germany, Sweden, United

☆ Adam Johnson: Man arrested on suspicion of manslaughter over death of ice hockey player, police say
▼ + stars: | 2023-11-14 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —A man has been arrested on suspicion of manslaughter following the death of ice hockey player Adam Johnson last month, South Yorkshire Police said in a statement on Tuesday. Johnson died after sustaining a cut to the neck while playing for the Nottingham Panthers against the Sheffield Steelers in England on October 28. “Adam’s death has sent shockwaves through many communities, from our local residents here in Sheffield to ice hockey fans across the world,” Horsfall said. Born in Hibbing, Minnesota, Johnson started his professional career in the American Hockey League before progressing to the National Hockey League (NHL). Police said on Tuesday that officers are supporting Johnson’s family while the investigation into his death remains ongoing.

Persons: Adam Johnson, Johnson, ”, “, Adam, Becs Horsfall, ” Horsfall, Johnson’s Organizations: CNN, South Yorkshire Police, Nottingham Panthers, Sheffield Steelers, Sheffield, Sheffield City Council, Panthers, American Hockey League, National Hockey League, Pittsburgh Penguins, Police Locations: England, Sheffield, Hibbing , Minnesota, Sweden, Germany, Nottingham

☆ Moody's warning on the massive U.S. debt burden has turned into a nonevent
▼ + stars: | 2023-11-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | Getty ImagesThere was a time when bad news about U.S. debt would send markets into a tailspin, but not this month. Markets on Monday shrugged at a warning Friday from Moody's Investor's Service that it was lowering its ratings outlook on Treasurys. But with the domestic fiscal and political mess seemingly old news, the ratings service saber-rattling just doesn't seem to have the same impact. "There's no piercing insight from Moody's that they have proprietary information that nobody knows about the U.S. government. watch nowIndeed, no one has to tell investors about the $33.7 trillion U.S. debt and the $1.7 trillion deficit in fiscal 2023.

Persons: Michael M, Fitch, There's, Michael Reynolds Organizations: New York Stock, Santiago, Moody's Investor's, Poor's, U.S, Glenmede Investment Management, . Locations: New York City, Washington, Wall

☆ Inside the ‘pressure cooker’: 4 current and former LA sheriff’s employees die by suicide in less than 24 hours
▼ + stars: | 2023-11-12 | by ( Emma Tucker | ) edition.cnn.com time to read: +9 min

How to get help • Help is available if you or someone you know is struggling with suicidal thoughts or mental health matters. So far this year, 86 police officers nationwide have died by suicide, according to the website Blue H.E.L.P., which tracks US officer suicides. But the number is underreported by at least 25% due to the stigma in police departments around reporting mental health issues, according to Karen Solomon, who cofounded the organization. I need help,’” Delgado told CNN. “Is there a way to maybe slowly let the steam out of that pressure cooker, maybe quarterly, maybe yearly?” Delgado said.

Persons: Omar Delgado, ” Delgado, “, ”, Robert Luna, Richard Pippin, Pippin, ” Pippin, Myung J, Chun, George Floyd, John Mann, Mann, John Violanti, Charles Ramsey, Ramsey, it’s, ” Ramsey, Michael Harrison, “ They’re, ” Harrison, Jeff Thompson, Karen Solomon, Phelan M, Delgado, ‘, I’m, ’ ” Delgado Organizations: CNN, Angeles County Sheriff’s Department, LA, Association for Los Angeles, Sheriffs, “, Los Angeles Times, . Police, Police, Columbia University, New, Psychiatric Institute, University, Buffalo School of Public Health, Health Professions, International Association for Suicide Prevention, Befrienders, Metropolitan Police Department, Philadelphia Police Department, Columbia University Medical Center, Eatonville Police, Lake, Eatonville Police Department, ” CNN Locations: Angeles, Orlando, Los Angeles County, Washington , DC, Baltimore, New Orleans

☆ Tens of thousands protest across Spain at proposed Catalan amnesty
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

MADRID, Nov 12 (Reuters) - Tens of thousands of people protested across Spain on Sunday against acting prime minister Pedro Sanchez's plans to grant amnesty to Catalan separatists in exchange for support for another term in office. The government secured a deal with Catalan separatist party Junts on Thursday which includes passing a contentious law granting amnesty to those convicted over Catalonia's attempt to secede from Spain in 2017. "He (Sanchez) has betrayed coexistence, democracy...he can't keep governing," said banker Tomas Perez, 38, holding a sign reading "Sanchez traitor". After an inconclusive July 23 election, the Socialists spent weeks negotiating with smaller parties including far-left platform Sumar and Catalan, Galician and Basque nationalist parties. Reporting by Miguel Gutierrez and Guillermo Martinez; Writing by Jessica Jones; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Sanchez's, Junts, Alberto Nunez Feijoo, Puerta, amnesties, Catalonia's, Sanchez, Tomas Perez, Inmaculada Herranz Castro, Miguel Gutierrez, Guillermo Martinez, Jessica Jones, Kirsten Donovan Organizations: People's Party, Authorities, Popular Party, Spain's, Socialists, Basque Nationalist Party, Thomson Locations: MADRID, Spain, Sol, Madrid, Spanish, EU, Barcelona, Granada, Seville, Malaga, Palma, Valencia, Galician, Basque

Just holding the deal together through a full four-year parliamentary term will be a tough challenge, many predict. "The next legislative term will be very tough for the PSOE, it is likely it won't finish the whole term," said Catalan political analyst Joan Esculies. Spaniards have also been called to show their ire in town square demonstrations across the country on Sunday. For Andoni Ortuzar, the Basque Nationalist Party leader who also struck a deal with the Socialists on Friday, whether the government could hold would be a test of Spain's plurality. "We are different - we consider ourselves a different nation - and the question is whether we can live together comfortably," he said.

Persons: Sanchez, Pedro Sanchez, Francisco Franco, Junts, Carles Puigdemont, Joan Esculies, Alberto Nunez Feijoo, Andoni Ortuzar, Susana Vera, Emiliano Garcia, Puigdemont, Lluis Orriols, Ortuzar, Belen Carreno, Joan Faus, Emma Pinedo, Aislinn Laing, Alex Richardson Organizations: Deal, Spain's Socialists, Socialist, PSOE, People's Party, Socialists, Basque Nationalist Party, REUTERS, Catalan Socialist, Carlos III University, Thomson Locations: MADRID, BARCELONA, Catalan, Belgium, Catalonia, Spain, Madrid, Castilla, La Mancha, Spanish, Catalunya

SAN FRANCISCO (AP) — The man accused of breaking into former House Speaker Nancy Pelosi’s San Francisco home, bludgeoning her husband with a hammer and seeking to kidnap her goes on trial Thursday. Where’s Nancy?” DePape asked, standing over Paul Pelosi around 2 a.m. holding a hammer and zip ties, according to court records. Nancy Pelosi was in Washington and under the protection of her security detail, which does not extend to family members. Nancy Pelosi’s husband of 60 years later underwent surgery to repair a skull fracture and injuries to his right arm and hands. After his arrest, DePape, 43, allegedly told a San Francisco detective that he wanted to hold Nancy Pelosi hostage.

Persons: Nancy Pelosi’s, bludgeoning, David DePape, Paul Pelosi, DePape, Gypsy Taub, Gene DePape, Taub, “ Where’s Nancy, Where’s Nancy, ” DePape, Nancy Pelosi, Jacqueline Scott Corley, Angela Chuang, Corley, it's, ”, Katherine Keneally, ” Keneally, Keneally, “, Gavin Newsom, Tom Hanks, Joe Biden's, Hunter ., Daniel Bernal, Elizabeth Yates, Catherine Goulet Organizations: FRANCISCO, Canadian, Bay Area, San Francisco Police, Institute, Strategic, San Francisco Locations: Francisco, United States, Berkeley, Bay, Washington, San Francisco, Bay Area, Richmond, California, San

☆ Bob Iger's return as Disney's CEO once sparked hope inside the company. Now, insiders are anxious and losing faith.
▼ + stars: | 2023-11-07 | by ( Lucia Moses | Reed Alexander | ) www.businessinsider.com time to read: +15 min

"There was a lot of excitement and hope at the return of Bob Iger a year ago," a current Disney staffer told Insider. Uncertainty about the company's future and about who's deciding what on the creative side has left execs in a state of inertia, according to an entertainment lawyer with knowledge of Disney's business. The declining linear TV business culminated in a standoff with Charter Communications over terms for a new contract for carrying Disney's cable channels. And Disney's streaming business, which was supposed to make up for the decline in cable revenues, has lost $11 billion since Disney+ launched in 2019. Churn is a top concern in Disney streaming, some employees said.

Persons: Goofy, what's, Bob Iger, Bob Chapek, He's, confidants, Zenia Mucha, Alan Braverman, Alan Horn, Jayne Parker, Christine McCarthy —, Mickey, Ariel, grumbled, Iger's, It's, he's, Iger, Paul Verna, Chapek, Bob, it's, Ron DeSantis —, Iger —, Nelson Peltz, he'd, hasn't, Verna, Disney, Ike Perlmutter, Peltz, Perlmutter, Ike, Disney's, Paul Singer, Kevin Mayer, Tom Staggs, Puck, Stagg's Blackstone, Intelligence's Verna Organizations: Walt Disney Co, Disney, ABC, Hollywood, CNBC, Writers Guild of America, Wall, Insider Intelligence, Marvel, Lucasfilm, Century Fox, Google, Facebook, Netflix, Communications, Florida Gov, Hulu, ESPN Iger, FX, Geographic, ESPN, Apple, Electronic, Elliott Investment Management, Bloomberg, Mayer Locations: Burbank, Hollywood, Florida's, Iger

And his appeal among Black and Latino voters, groups that have been foundational within the Democratic Party, seemed to suffer the deepest loss of support, especially among younger voters. The survey results suggest that an unnamed, generic Democrat would fare better than Biden in 2024, leading Trump by 8 points while Biden trails by 4 – a formidable 12-point swing. Political Cartoons View All 1234 ImagesThe survey captures a moment in time – albeit not a very good moment for Biden. “If he continues to run, he will be the nominee of the Democratic Party,” Axelrod wrote. Though the poll surveyed how Kamala Harris would fare in a hypothetical matchup against Trump, who performed only slightly better than Biden, other possible Democratic nominees – like California Gov.

Persons: shockwaves, Donald Trump, Joe Biden, scatterer, Biden, Trump, it’s, –, hasn’t, Barack Obama, Mitt Romney, Obama, David Axelrod, ” Axelrod, Bill Kristol, ” “, ” Kristol, Dean Phillips, Biden’s, he’s, Pramila Jayapal, ”, Jasmine Crockett, Kamala Harris, Gavin Newsom, Gretchen Whitmer –, Harris, Pete Buttigieg, Phillips Organizations: The New York Times, White, Democratic Party, Trump, Democratic, Rep, Dean Phillips of, Congressional Progressive Caucus, MSNBC, Biden, Jasmine Crockett , Texas Democrat, CNN, Capitol Hill, Michigan Locations: Siena, Gaza, Dean Phillips of Minnesota, Jasmine Crockett , Texas, California, lockstep

☆ Real-estate agents may be forced to charge home buyers less, thanks to a new $1.8 billion verdict
▼ + stars: | 2023-11-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

On Tuesday afternoon at a courthouse in Kansas City, Missouri, the collective nightmare of the real-estate industry became reality. For decades, the basic structure of how real-estate agents get paid when they help someone buy or sell their home has remained roughly the same. Here's how it works: When you list your home for sale on an MLS, you're required to offer a commission to the buyer's agent. The good buyer's agents who can prove their value will be fine, Brobeck predicted. Buyers might also start making offers on the condition that the seller agrees to pay both agents' commissions — otherwise, no deal.

Persons: Burnett, —, Stephen Brobeck, Brobeck, Mike Rosenthal, Rosenthal, Sellers, Saul Klein, you've, Klein, Keller Williams, Bob Goldberg, Inman, Opendoor, James Rodriguez Organizations: National Association of Realtors, NAR, MLS, Consumer Federation of America, Consumer, nab, New York Times, Justice Department Locations: Kansas City , Missouri, Missouri , Illinois, Kansas, California

☆ A $1.8 billion earthquake just hit the real estate industry
▼ + stars: | 2023-11-05 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

On Tuesday afternoon at a courthouse in Kansas City, Missouri, the collective nightmare of the real-estate industry became reality. For decades, the basic structure of how real-estate agents get paid when they help someone buy or sell their home has remained roughly the same. Here's how it works: When you list your home for sale on an MLS, you're required to offer a commission to the buyer's agent. The good buyer's agents who can prove their value will be fine, Brobeck predicted. The wild thing is, the decision could be just the beginning of tumult for the real-estate industry.

Russian President Vladimir Putin chairs a meeting with members of the Security Council via video link at the Kremlin in Moscow, Russia October 27, 2023. Washington expressed deep concern about Russia's decision and it was a step in the wrong direction. Moscow says its deratification of the Comprehensive Nuclear Test Ban Treaty (CTBT) is merely designed to bring Russia into line with the United States, which signed but never ratified the treaty. But some Western arms control experts are concerned that Russia may be inching towards a nuclear test to intimidate and evoke fear amid the Ukraine war. Post-Soviet Russia has not carried out a nuclear test.

Persons: Vladimir Putin, Antony Blinken, Putin, Robert Floyd, Floyd, Andrey Baklitskiy, Russia's, Andrew Osborn, Guy Faulconbridge, Gareth Jones, Grant McCool Organizations: Security, Kremlin, Sputnik, U.S, Moscow, Comprehensive, Washington, Treaty Organization, Russian Federation, Twitter, Soviet Union, United Nations Institute for Disarmament Research, Thomson Locations: Moscow, Russia, United States, Ukraine, Washington, Russian, Soviet Russia, North Korea

CNN —A Palestine TV correspondent and 11 members of his family were killed Thursday in southern Gaza, according to the Palestinian Authority-run television network, in what it described as an Israeli airstrike. Palestine TV has not published evidence linking it directly to an Israeli strike. Hattab’s death sent shockwaves through his newsroom, with Palestine TV journalist Salman Al Bashir making an emotional on-air report that reduced a television anchor to tears. Palestine TV journalist Salman Al Bashir takes off his vest and helmet while giving an emotional on-air report on Thursday after the death of fellow Palestine TV correspondent, Mohammad Abu Hattab, in Gaza. Al Bashir also said Israel’s weeks-long bombardment of the enclave had become unbearable for Palestinians in Gaza.

Persons: Mohammad Abu Hattab, Nasser, WAFA, Hattab’s, shockwaves, Salman Al Bashir, ”, ” Al Bashir, Al Bashir, “, Gazans, Khan Younis Organizations: CNN, Palestinian Authority, Palestine, Palestine TV, Palestinian Ministry of Health, Israel Defense Forces, Hamas, Protect Journalists Locations: Gaza, Palestine, Ramallah, Israel, Hattab’s, Al Jazeera’s Gaza, Israeli

☆ China Evergrande faces winding-up challenge in Hong Kong court
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +2 min

An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsHONG KONG, Oct 30 (Reuters) - China Evergrande Group's (3333.HK) fate will be tested on Monday as Hong Kong's High Court hears a winding-up petition against the embattled property developer, nearly two years after it defaulted on its debts. Evergrande had been working on an offshore debt restructuring proposal for more than a year-and-a-half, but its plans were thrown off course last month when billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities. The world's most indebted property developer with more than $300 billion of total liabilities, Evergrande defaulted its offshore debt in late 2021 and became the poster child of a debt crisis that has since engulfed China's property sector. Top Shine, an investor in Evergrande unit Fangchebao, filed the winding-up petition in June 2022 because it said Evergrande had not honoured an agreement to repurchase shares the investor bought in the unit.

Persons: Florence, Evergrande, Hui Ka Yan, Clare Jim, Lincoln Organizations: REUTERS, HK, Thomson Locations: Beijing, China, HONG KONG, Evergrande

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