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☆ How Nvidia earnings could send ripples through Wall Street
▼ + stars: | 2023-08-23 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Nvidia is slated to post fiscal second-quarter earnings after the bell Wednesday. The report could also send ripples through the entire stock market . Nvidia is far and away the best-performing S & P 500 member this year, up more than 200% in that time. "There were a lot of investors who got nervous as Nvidia was selling off and correcting in July. There are also concerns that this may be an overly crowded trade, which could prime it for a decline if Wednesday's report underwhelms Wall Street.

Persons: Tom Lee, CNBC's, Lee, Goldman Sachs, hasn't, — CNBC's Michael Bloom Organizations: Nvidia, AMD, Marvell Technology, Taiwan Semiconductor

☆ Qantas unveils new livery in support for Indigenous referendum
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Aug 14 (Reuters) - Qantas (QAN.AX) on Monday unveiled plans for some aircraft to carry special livery supporting recognition of Aboriginal and Torres Straits Island people in Australia's constitution, stepping into the divisive debate on Indigenous rights. Australians will vote in a landmark referendum later this year on whether they support altering the constitution to include a "Voice to Parliament", an Indigenous committee to advise parliament on matters affecting First Nations people. Support for the proposal has been dipping in recent months, according to opinion polls. The national carrier said livery featuring a 'Yes23' logo, asking Australians to vote Yes in the referendum, will be carried on three aircraft: a Qantas Boeing 737, a QantasLink Dash 8 Turboprop and a Jetstar Airbus A320. In addition to the Yes livery, Qantas will support the Yes23 campaign teams with travel so they can engage with regional and remote Australians ahead of the referendum, the company said in a statement.

Persons: Alan Joyce, Anthony Albanese, Praveen Menon, Lincoln Organizations: SYDNEY, Qantas, Torres Straits, Qantas Boeing, Jetstar Airbus, Nations, Thomson Locations: Australia

☆ Retail investors flock to penny stocks WeWork, Amyris, Proterra
▼ + stars: | 2023-08-11 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

The three penny stocks, up in the range of 40% to 120%, were the most actively traded U.S. shares at 10:45 a.m. Amyris (AMRS.O) and WeWork (WE.N) were the second and third most traded stocks by retail investors, respectively, while Proterra (PTRA.O) was twelfth on the list at 10 a.m. Some of the latest speculative bets on the penny stocks were pinned on hopes of a merger and acquisition or a turnaround for the struggling businesses. Another set of retail traders are looking to capitalize on the volatility, especially by squeezing bearish investors on highly shorted stocks. Last week retail traders had piled into shares of Tupperware Brands (TUP.N) and trucking firm Yellow (YELL.O).

Persons: Kate Munsch, Amyris, Proterra, WeWork, Lucas Mantle, AJ Bell, Russ Mould, Matthew Tuttle, Medha Singh, Shounak Dasgupta Organizations: REUTERS, U.S, Biotech, Vanda Research, Hertz, Tuttle Capital Management, Tupperware Brands, Thomson Locations: San Francisco , California, U.S, Bengaluru

☆ Use this 3-step meditation to counter negative thoughts
▼ + stars: | 2023-08-11 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

Thoughts like these can turn a perfectly pleasant gathering into a source of anxiety or frustration for days to come. This tendency to focus more on the negative aspects of ourselves and others, as opposed to the positive or even neutral ones, is called negativity bias. One way to curb this is by meditating, Oren Jay Sofer said as a guest on the podcast "Ten Percent Happier." "Meditation can help us to balance that negativity bias by appreciating the goodness that is already here and available in life," Jay Sofer said. Here is a 3-step meditation that can help you build a more positive outlook.

Persons: Oren Jay Sofer, Jay Sofer

☆ Can These Three Much-Loved Musicals Ever Be Truly Revived?
▼ + stars: | 2023-08-08 | by ( Jesse Green | More About Jesse Green | ) www.nytimes.com time to read: +2 min

Like the movie, it was a blast, even if its satire, coming from all directions, seemed to have no target. (Much of what it pokes fun at are the conventions of musicals themselves.) Last year at Stratford, “The Rocky Horror Show” suffered from a similar problem — but recent Stratford productions of “Chicago,” “The Music Man” and “Guys and Dolls” (all directed and choreographed by Donna Feore) did not. (We’ll have a chance to find out with the arrival of a completely different “Spamalot” revival on Broadway this fall.) Maybe comedy needs to skip a few generations until minds that know nothing of migratory coconuts can test its enduring worth.

Persons: ”, Donna Feore, Lezlie Wade, Jesse Robb, “ Spamalot ” Organizations: “ Locations: Stratford, “, “ Chicago

Affirmative action supporters and counterprotesters shout at each other outside the U.S. Supreme Court building in Washington, D.C., June 29, 2023. Now that the Supreme Court has struck down race-conscious admissions, employers could face challenges in how they find diverse talent. A group of 13 Republican attorneys general suggested in the wake of the ruling that companies' diversity, equity and inclusion, or DEI, programs could be considered unlawful discrimination. In the wake of the ruling, many fear universities could become less reliable sources from which to recruit diverse talent. However, during the last year there has been a "step back" in terms of diversity hiring, said Reyhan Ayas, a senior economist at Revelio Labs, a workforce data and analytics firm.

Persons: Kent Nishimura, Jocelyn Samuels, Lorraine Hariton, Donald Harris, Stacy Hawkins, Kim Waller, Korn, Waller, Ahmad Thomas, Thomas, it's, We've, Alvin Tillery, Tillery, Carey Thompson, Adam Kovacevich, George Floyd, Russell, Reyhan Ayas, Northwestern's, Salesforce, Kovacevich, VI, Temple's Harris, " Harris Organizations: U.S, Supreme, Washington , D.C, Los Angeles Times, Apple, General Electric, Google, Starbucks, Harvard University, University of North, Democratic AGs, Employment, Commission, Catalyst, Temple University School of Law, University of California, University of Michigan, Urban Institute, Employers, Rutgers University . Companies, . Census, Temple University School of Law Business, Leadership Group, Corporate, Northwestern's Center, Diversity and Democracy, Gettysburg, of Progress, Economic, Revelio Labs, Silicon, Amazon, Microsoft, Civil Locations: Washington ,, University of North Carolina, U.S, Silicon Valley

☆ Here are Thursday's biggest analyst calls: Apple, Qualcomm, Roku, Etsy, Roblox, Robinhood, Sunrun and more
▼ + stars: | 2023-08-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

TD Cowen upgrades Ross to outperform from market perform TD Cowen said consensus is "underestimating [a] margin recovery" for Ross. TD Cowen downgrades Columbia to market perform from outperform TD Cowen said demand looks muted for Columbia Sportswear . Bernstein downgrades Etsy to market perform from outperform Bernstein said it's concerned about slowing growth. Piper Sandler reiterates Crocs as overweight Piper Sandler said the shoe company is "underpinned by +DD [double digit] earnings growth and compelling valuation." Citi reiterates Apple as buy Citi said it's standing by its buy rating heading into Apple earnings after the bell.

Persons: TD Cowen, Ross, Cowen, Bernstein, Etsy, it's, Piper Sandler, Crocs, CROX, QCOM, Jefferies, Simon, Telsey, Roblox, Morgan Stanley, Robinhood, Janney, Coke Organizations: TD Cowen downgrades Columbia, Columbia, Buyers, Citi, Deutsche Bank, Qualcomm, Apple, Simon, Bank of America, UBS, Costco Locations: underperform, Wingstop, 1Q22

Sheila Oliver, who made history as the first Black woman to hold statewide-elected office in the Garden State, has died, her family said. We will remember her commitment to the people of New Jersey and her tireless efforts to uplift the community.”On Monday, New Jersey Gov. Phil Murphy’s office said Oliver was receiving medical care and was unable to serve as acting governor while he was on vacation. New Jersey State Senate President Nicholas Scutari assumed the duties of acting governor as of Monday morning, Murphy’s office said. “When I selected her to be my running mate in 2017, Lieutenant Governor Oliver was already a trailblazer in every sense of the word,” Murphy said in a statement.

Persons: Gov, Sheila Oliver, Oliver, “ Sheila Y, ”, Phil Murphy’s, Nicholas Scutari, “, ‘, ” Oliver, Murphy, Governor Oliver, ” Murphy Organizations: Washington CNN —, Garden State, , New, , New Jersey Gov, Democrat, Columbia University, New, New Jersey General Assembly, Lincoln University, Community Organization, Planning, Administration, General Locations: Washington CNN — New Jersey, Garden, New Jersey, ,, , New Jersey, . New Jersey, ’, of New Jersey

☆ Subomi Plumptre: A woman on a mission to build prosperity in Africa
▼ + stars: | 2023-07-31 | by ( Susan Williams For Cnn | ) edition.cnn.com time to read: +6 min

However, one woman says she has made it her life’s mission to empower Africa’s squeezed middle class. She is the co-founder of Volition Cap, an investment cooperative that aims to help Africans build wealth and financial stability. But the middle class are the ones that create the most small and medium scale enterprises. So my focus on the middle class is actually very deliberate, because I realize that the middle class is the economic destiny of Africa,” Plumptre told CNN. That was what happened to my parents.”This tragedy made Subomi realize that she, like many middle class individuals, lacked a safety net when faced with critical emergencies.

Persons: Africa’s, Cap, Plumptre, ” Plumptre, “, ” Organizations: CNN, African Development Bank Group, International Labour Office, World Bank, SEC Locations: Nigeria, Africa, Europe, America

☆ Even with alpha strikeout, Steve Cohen scores
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 31 (Reuters Breakingviews) - Hedge fund mastermind Steve Cohen is best known for his savvy trades, but it doesn’t take an investing whizz to make money in baseball. His New York Mets are one of the worst teams in the league despite a record-setting $364 million payroll. Cohen bought full ownership of the club in 2020 for $2.4 billion and spent lavishly on the roster. Even so, the Mets are already worth $500 million more than Cohen paid, according to Forbes, a nice uplift for substandard performance. Dan Snyder just sold his woeful Washington Commanders for $6 billion; Snyder paid $800 million for the team and its stadium in 1999.

Persons: Steve Cohen, Cohen, Max Scherzer, Dan Snyder, Snyder, Michael Jordan, Jennifer Saba, ’, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, New York Mets, Mets, Forbes, SAC Capital Advisors, Charlotte Hornets, Twitter, Sequoia, Walmart, BT boss’s, Thomson

☆ The Federal Reserve just hiked interest rates to their highest level in 22 years. Here's how Wall Street is reacting, where the pros think investors should be putting their money, and why inflation is
▼ + stars: | 2023-07-27 | by ( Mark Reeth | ) www.businessinsider.com time to read: +7 min

The Federal Reserve hiked rates in July, and it could be the final rate hike of the cycle. But while the latest rate hike was all but certain, there are still plenty of questions about what lies ahead. In a note from Wednesday evening, Goldman Sachs chief economist Jan Hatzius pointed out that Powell made it clear any further hikes will depend on inflation data. But Bank of America analysts led by US economist Michael Gapen remain unconvinced that the rate hike cycle is truly over. As for equities, Wall Street widely expected this week's rate hike, so there are no major changes to their second-half investing recommendations.

Persons: Jerome Powell, Henry Allen, shouldn't, Allen, Goldman Sachs, Jan Hatzius, Powell, Hatzius, Gurpreet Gill, Gill, Peter Hooper, Michael Gapen, Gapen, Goldman's Gill, America's Gapen, Morgan Stanley, Mike Wilson Organizations: Federal, shouldn't, Deutsche Bank, Fed, Goldman Sachs Asset Management, Bank of America, Bank, America's Locations: Wall

☆ Goldman Sachs' second-quarter earnings bombed. Here are 5 numbers that best explain what went wrong and where the company is headed.
▼ + stars: | 2023-07-19 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

Wall Street earnings season has been challenging across the board, but perhaps none have had it as tough as Goldman Sachs. "This moment in the economic cycle creates meaningful headwinds for Goldman Sachs and our business mix. Here are the five numbers explaining the complex story of Goldman Sachs' second-quarter earnings and its shift from consumer banking to asset management fees. Goldman Sachs Earnings PresentationROE: Down to 4%The return on shareholders' equity fell to 4% this quarter, down from 11.6% last quarter. Goldman Sachs' 2Q23 Earnings Presentation Goldman Sachs' 2Q23 Earnings PresentationEquity underwriting: up 133%One bright spot was equity underwriting, or the process of helping companies raise money through the sale of stocks.

Persons: Goldman Sachs, David Solomon, it's, ROE, Goldman, Morgan Stanley, Goldman's, Solomon, Denis Coleman, Coleman, Solomon's, we've, Marcus, they've Organizations: Wall, Citigroup, JPMorgan, Wells, Global Banking, Goldman, Apple, GreenSky, Wealth Management, Investment Locations: Goldman, Wells Fargo

☆ 'Chaos' is fueling fights among Putin's top commanders. These are the players battling for power.
▼ + stars: | 2023-07-17 | by ( Jake Epstein | ) www.businessinsider.com time to read: +14 min

More than three weeks after the historic challenge to Russian President Vladimir Putin's authority, there's still internal power plays and high-level purges in motion. "We are seeing a lot of military formations and military figures that are pushing for their own objectives." For example, in Kadyrov's case, he may be pushing for control to shield his fighters from the battlefield in Ukraine and send conventional Russian forces instead. Consequences for disobedienceInsubordination against Moscow's military leadership, such as Teplinsky's criticisms or the Wagner's rebellion, has undermined Russian military leaders but has also come with consequences for members of the anti-Gerasimov camp. The instability increasingly endemic to the Russian military comes as the Ukrainians try to break through their defensive lines.

Persons: Wagner Group's, Vladimir Putin's, Wagner, Putin, doesn't, Yevgeny Prigozhin, Prigozhin, Alexander Lukashenko, Alexander Ermochenko, he's, Stepanenko, Valery Gerasimov, Sergei Shoigu, Ramzan Kadyrov, Kadyrov, there's, Gerasimov, Vladimir Putin, Staff Valery Gerasimov, Alexei Nikolsky, Gen, Mikhail Teplinsky, Russia's, Teplinsky, Sergei Surovikin, There's, Friedemann Kohler, hasn't, Russia's Aerospace Forces Sergei Surovikin, Russian Armed Forces Valery Gerasimov, Staff Sergei Rudskoi, Mikhail Metzel, Ivan Popov, Vladimir Seliverstov, Popov, vilely, Viktor Zolotov, it's, ISW, Vyacheslav Gladkov Organizations: Service, Institute for, Wagner Group, Kremlin, Southern Military, REUTERS, Russian Ministry of Defense, Russian Armed Forces, Russian Defense, Russian, Staff, AP, Russia's VDV Airborne Forces, Getty, Russia's Aerospace Forces, Armed Forces, Sputnik, Arms Army, 106th Guards Airborne, Russian MoD, National Guard, Russian National Guard Service, PMC Wagner Group Locations: Russian, Russia, Wall, Silicon, Ukraine, Moscow, Prigozhin, Belarus, Rostov, Don, Russia's Belgorod, Sputnik, Washington, Chechnya, Sochi, REUTERS Maj, Belgorod

☆ After a Great Flood, a Struggle Between Faith and Reason
▼ + stars: | 2023-07-17 | by ( Dwight Garner | More About Dwight Garner | ) www.nytimes.com time to read: +1 min

Translated by Leri Price. The Syrian writer Khaled Khalifa’s novels have cruel titles, of the sort Jean Genet might have composed for William S. Burroughs, or Verlaine for Rimbaud. Khalifa, who was born near Aleppo in 1964, has published six novels in Arabic. He can also resemble Chaucer, for whom smell was indicative of a person’s moral state. This sense, so intimately linked to memory and desire, matters in fiction as it does in life.

Persons: Khaled Khalifa, Leri Price, Khaled Khalifa’s, Jean Genet, William S, Burroughs, Verlaine, Rimbaud, Khalifa, ”, antic, Philip Roth, Dickens, Chaucer Locations: Syrian, Aleppo, Syria

☆ 'Undeniably vast' opportunity: Bank of America names generative A.I. global 'winners'
▼ + stars: | 2023-07-14 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Bank of America has dubbed global companies exposed to the demand for generative artificial intelligence solutions as "winners," picking stocks across the software and IT services sectors. It described the AI opportunity within the software industry as "undeniably vast" in a research note dated 12 July, and ranked European companies in the sector. "Huge quantities of data about a company's operations are held within a company's ERP system which makes the software vital in any generative AI integration," BofA's analysts stated. "We see gen AI as an opportunity for the Software industry to derive both potential revenue uplift via enhanced value proposition and data monetization, alongside productivity improvements," the bank said. BofA also looked at the effect of generative AI on the IT services industry and said implications "are the most polarised," noting concerns over drops in sales due to tasks being automated.

Persons: BofA, Frederic Boulan, — CNBC's Michael Bloom Organizations: of America, Dassault Systemes, SAP, Software, IT, International Data Corporation Locations: French, German

☆ Essence Magazine was meant to be a place for 'Black girl magic.' Internally, some employees say it was more like 'Black girl tragic.'
▼ + stars: | 2023-07-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +34 min

"Essence is the most deceptive Black media company in America. Essence Magazine was first published in 1970 at a time when Black business and civil rights leaders called for greater self-determination and empowerment. The magazine was the brainchild of a group of four Black businessmen who identified a lack of publications for Black women in America. "And that is to serve Black women deeply, to serve women of color in a way that no one else has thought about." Essence CEO Michelle Ebanks, Richelieu Dennis, and Essence chief content & creative officer Moana Luu at the 2020 13th Annual ESSENCE Black Women in Hollywood luncheon.

Persons: Richelieu Dennis, Dennis, Susan Taylor, Taylor, —, Jason Kempin, wasn't, Essence Communications Michelle Ebanks, Rich Dennis, Arturo Holmes, Margarita Corporan, Forbes, let's, Black, didn't, Sandra Okerulu, Michelle Ebanks, Luu, Moana, Rich Polk, Wears, Danielle Young, Julee Wilson, Candace Montgomery, Wilson, Montgomery, Martha, Martha Dennis, Rechelle, Sophia, Richelyna, Alan Lescht, bristled, Ebanks, Joy Collins Profet, Readers, Essence's, Collins Profet, Caroline Wanga, — it's, Wanga, unappreciated, Travis Montaque, cofounders, Lionel Hahn, Yesha Callahan, Rich, That's what's, Yoonji Han Organizations: Black, Essence Magazine, Time Inc, Vogue, Sports, Essence Communications, Entertainment, New York Times, Meredith Corporation, Brands, Ventures, Upfronts, Babson College, The, Depot, PepsiCo, Accenture, Unilever, Inc, Magazine, Magazine's, Penske Media, Getty, Essence Ventures, Afropunk, Vice Media, Black Entertainment Television, Digital, Sports Illustrated, Media, Fortress Investment, NASDAQ, Trace Media, texturism, Hamptons, Readers, Employees, Staff, BET, Culture, Democracy, Inkwell, Essence Locations: America, Black, Liberia, Queens, shea, Moana Luu, Martinique, France, Paris, Philippines, Hollywood, Industry City, Brooklyn, Cannes

[1/2] Demonstrators protest at a picket line outside of St Thomas' Hospital as junior doctors strike over pay and conditions, in London, Britain, June 14, 2023. REUTERS/Toby Melville/File PhotoSummary UK accepts independent pay recommendationsDecision follows widespread industrial reactionLONDON, July 13 (Reuters) - Britain's government has decided to accept recommendations for pay increases for millions of public sector workers, treasury minister John Glen said on Thursday, giving doctors and teachers at least 6% increases. Junior doctors will now get a 6% pay uplift and a lump-sum pay increase of 1,250 pounds ($1,633.25), while teachers would get 6.5%. He also announced pay increases for police (7%) and armed forces (5%). Glen said there would be no new borrowing or spending to fund the increases although teachers' pay rises would be funded by a reallocation of the existing education department budget.

Persons: Toby Melville, John Glen, Rishi Sunaks, Glen, Muvija M, David Milliken, William James, Kate Holton Organizations: St Thomas ' Hospital, REUTERS, Bank of England, Thomson Locations: St, London, Britain

☆ Final offer: UK's Sunak seeks to end strikes with new pay deals
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: +1 min

British Prime Minister Rishi Sunak speaks to the media during London Tech Week at the QEII centre on June 12, 2023. British Prime Minister Rishi Sunak on Thursday sought to end months of crippling public sector strikes by offering teachers, doctors and other workers pay increases of 6% and above, but warned it would cost billions that could mean cuts elsewhere. The Conservative leader said he had accepted the recommendations of independent pay review boards on wage rises for millions of public sector workers, stressing that it was a final offer intended to end months of industrial action. Junior doctors will now get a 6% pay uplift and a lump-sum pay increase of 1,250 pounds ($1,633.25), while teachers would get 6.5%. After more than a year of elevated inflation - which at its peak hit more than 11% - the government is struggling to balance the need to end strikes with rising public debt levels.

Persons: Rishi Sunak, Sunak Organizations: British, London Tech, Conservative, Education, Police

☆ Former Essence Magazine employees say they witnessed a 'hellish' and 'dehumanizing' culture at the leading publication for Black women in America
▼ + stars: | 2023-07-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +34 min

On June 28, 2020, a group of women using the name Black Females Anonymous published a damning public letter that shook Essence magazine, the leading publication for Black women in America, to the core. Essence magazine was launched in 1970 at a time when Black business and civil-rights leaders called for greater self-determination and empowerment. The magazine was the brainchild of a group of four Black businessmen who identified a lack of publications for Black women in America. "And that is to serve Black women deeply, to serve women of color in a way that no one else has thought about." Essence CEO Michelle Ebanks, Dennis, and Essence chief content and creative officer, Moana Luu, at the 2020 13th Annual Essence Black Women in Hollywood luncheon.

Persons: Richelieu Dennis, Dennis, haven't, Susan Taylor, Taylor, —, Jason Kempin, wasn't, Michelle Ebanks, Rich Dennis, Arturo Holmes, Margarita Corporan, Forbes, let's, didn't, Sandra Okerulu, Ebanks, Luu, Moana, Rich Polk, Wears, Danielle Young, Julee Wilson, Candace Montgomery, Wilson, Montgomery, Martha, Martha Dennis, Rechelle, Sophia, Richelyna, Alan Lescht, bristled, Joy Collins Profet, Readers, Essence's, Collins Profet, Caroline Wanga, — it's, Wanga, unappreciated, Travis Montaque, cofounders, Lionel Hahn, Yesha Callahan, Rich, That's what's, Yoonji Han Organizations: Black, Time Inc, Vogue, Sports, Essence Communications, Entertainment, New York Times, Meredith Corporation, Essence, Inc, Brands, Ventures, Upfronts, Babson College, The, Depot, PepsiCo, Accenture, Unilever, Magazine, Magazine's, Penske Media, Getty, Essence Ventures, Afropunk, Vice Media, Black Entertainment Television, Digital, Sports Illustrated, Media, Fortress Investment, NASDAQ, Trace Media, texturism, Readers, Employees, Staff, BET, Culture, Democracy, Inkwell Locations: America, Black, Liberia, Queens, shea, Moana Luu, Martinique, France, Paris, Philippines, Hollywood, Industry City, Brooklyn, Cannes

☆ UBS hikes Netflix price target ahead of earnings, says shares can jump nearly 20%
▼ + stars: | 2023-07-12 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors can expect a strong showing for Netflix during earnings season, UBS said. Netflix shares rose 0.6% in the premarket. NFLX 1D mountain Netflix shares 1-day "We are raising estimates following positive data on paid sharing. Checks on engagement, downloads & search interest were all constructive for the newly launched paid sharing markets," Hodulik wrote Tuesday. Netflix shares are already outperforming this year, up nearly 50%.

Persons: John Hodulik, Hodulik, — CNBC's Michael Bloom Organizations: Netflix, UBS Locations: Tuesday's, Canada

☆ How AI’s astonishing productivity gains could help curb inflation
▼ + stars: | 2023-07-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Experts say the technology will help address a steep and prolonged slowdown in productivity growth in many Western economies, which has kept businesses’ costs higher than they would otherwise be and made inflation harder to tame. “AI has huge potential to increase productivity,” BlackRock CEO Larry Fink said at the company’s Investor Day last month. Productivity gains in Europe could be similar, albeit slightly smaller, Brynjolfsson told CNN. In some cases, productivity gains could be achieved sooner. That’s because most generative AI tools live on the internet — “the technology we already have on our desks” — making them widely accessible, Brynjolfsson said.

Persons: chatbot, —, Smart, Hannes P Albert, Bill Gates, Larry Fink, Erik Brynjolfsson, ” David McMillan, ” McMillan, Hollie Adams, Neil Shearing, Martin Neil Baily, Anton Korinek, Brynjolfsson, Goldman Sachs, ” Organizations: London CNN, Microsoft, BlackRock, CNN, Stanford University, Organisation for Economic Cooperation, Development, OECD, University of Stirling, Bloomberg, Getty, “, National Statistics, IBM, Capital, Brookings Institute, University of Virginia’s Darden School of Business, America, Productivity, Google, SAP, Goldman Locations: East, Scotland, London, United Kingdom, United States, Europe, Wimbledon

☆ Singapore state investor Temasek posts negative annual return, its first since 2020
▼ + stars: | 2023-07-11 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This was just its fifth one-year total shareholder negative return since 2003. Singapore's state investment company Temasek recorded its first annual shareholder negative return since 2020, weighed by a challenging macroeconomic and geopolitical environment. Net portfolio value came in at $382 billion Singapore dollars ($284.77 billion), compared to S$403 billion a year ago. Still, Temasek's decline in annual shareholder return in 2022/23 compares relatively favorably with global stock market returns. Its three-year total shareholder return stood at 8%, while its 10-year return was at 6% and 20-year return at 9%.

Persons: Lim Boon Heng Organizations: Temasek Holdings, Temasek, Singapore Locations: Singapore, Asia, Japan, China, Russia, Ukraine

☆ Suspecting Clandestine Plots Behind Every Door
▼ + stars: | 2023-07-11 | by ( Elizabeth Williamson | More About Elizabeth Williamson | ) www.nytimes.com time to read: +1 min

UNDER THE EYE OF POWER: How Fear of Secret Societies Shapes American Democracy, by Colin DickeyThe Memorial Day pancake breakfast in Blue Hill, Maine, is hosted by the Oddfellows, an 18th-century craftsmen’s guild turned community service organization, related to the Freemasons. While there this spring, I pondered the elderly members pouring coffee and selling raffle tickets to fund college scholarships. How bizarre, even funny, that this group was once perceived as a threat to America. History bristles with examples of citizens and their elected leaders hijacking public discourse by tarring — sometimes literally — perceived enemies of the American project. Unfortunately, we have willfully forgotten most of this warped history, rendering us constantly surprised by the next imagined peril.

Persons: Colin Dickey The, ” Colin Dickey, Ben Franklin, —, ” Dickey, tarring —, McCarthy, zealotry Organizations: American, Freemasons Locations: Blue Hill , Maine, America

☆ 3D-printing takeover battle misses third dimension
▼ + stars: | 2023-07-10 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

Stratasys (SSYS.O) for now prefers a merger with peer Desktop Metal (DM.N), but a sweetened bid from Nano Dimension (2N5By.F) complicates matters. A simpler two-dimensional financial analysis suggests a snubbed offer from 3D Systems (DDD.N) may wind up the best option. The company’s nominees favor the Desktop Metal deal, while Nano’s back the alternative transaction. On May 25, Stratasys agreed to combine with Desktop Metal in an all-stock deal valued at $1.8 billion. On the same day, 3D Systems offered to buy Stratasys for $7.50 a share in cash and 1.3223 3D Systems shares for each Stratasys share.

Persons: Stratasys, Nano’s, Jeff Graves, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Systems, Desktop, Twitter, Thomson

☆ Goldman Sachs: These are the 20 stocks building AI tech, using it to turbocharge their businesses, and reaping the rewards as the artificial intelligence boom pushes the S&P 500 higher
▼ + stars: | 2023-07-09 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +3 min

Goldman Sachs' David Kostin estimated that the AI-induced upside for US equities could be over 14%. In a recent report, Goldman Sachs analysts shared 20 stocks with exposure to the rise of AI. Rising AI adoption could mean over 14% upside for US equitiesObviously, an AI-induced economic stimulus also means good news for the US equity market. "And the potential upside could be even larger if the uplift in GDP and revenue growth is also accompanied by an increase in corporate profit margins." 20 stocks poised to capitalize on the rise of AIIn the report, Goldman Sachs analysts shared 20 stocks across nine sectors that are exposed to the rising adoption of artificial intelligence.

Persons: Goldman Sachs, David Kostin, Joseph Briggs, Briggs, Goldman, Kostin, it's

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