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MIT economist warns AI infrastructure investments may not meet investor profit expectations. Only 5% of jobs are likely to be significantly impacted by AI in the next decade, according to the economist. That's according to MIT Economist Daron Acemoglu, who told Bloomberg in an interview that the hype surrounding AI may not meet its lofty expectations. The most optimistic scenario, according to Acemoglue, is that AI hype cools and some applications of the technology take hold. In such a scenario, investors and tech executives would become disenchanted with AI, leading to a "AI spring followed by AI winter."
Persons: MIT's Daron Acemoglu, , Daron Acemoglu, Acemoglu, Acemoglue Organizations: Bloomberg, Service, MIT, Microsoft, Technology
New York CNN —A married New Jersey couple that was in a severe accident during an Uber ride can’t sue the company because they and their daughter agreed to arbitration when they accepted the terms of service for a separate Uber Eats order, a court has ruled. Georgia sustained several fractures throughout her body, including cervical, lumbar, spine and rib fractures and other physical injuries that required surgeries and other procedures. They tried taking Uber to court for a jury trial, but an appellate court recently ruled they can’t because they previously agreed to Uber’s updated terms and conditions requiring arbitration, which are the same in the Uber Eats and Uber ride app. The McGinty’s attorneys told CNN they’re reviewing the decision and will “likely” petition the New Jersey Supreme Court. Anger over arbitrationIt’s the latest case that highlights the intricacies of the terms of services having binding arbitration agreements that users agree to with many companies.
Persons: New York CNN —, John McGinty, Georgia McGinty, , John, Uber, ’ ” Uber, Georgia McGinty “, ’ ”, McGintys, they’re “, we’ve, ” Uber, Jeffrey Piccolo, Kanokporn Tangsuan, Disney, Piccolo, ” Josh D’Amaro Organizations: New, New York CNN, CNN, Uber, New Jersey Supreme, Disney, Locations: New York, New Jersey, Georgia
He criticizes the US for high debt and low growth, leading a fragile financial system. He highlighted the four categories of debt-based countries: those with low growth and high or low debt, and those with high growth and high or low debt. The US is in the category of low growth and high debt. However, if a country accumulates high debt, then continued growth is required to absorb it, he noted. At present, Taleb doesn't believe that the ballooning debt could be solved politically or by increased demand for US bonds.
Persons: Nassim Taleb, , Nassim Nicholas Taleb, Scott Patterson, Patterson, Taleb, It's, Brandon Yarckin, isn't, Mark Spitznagel Organizations: Service, Universa Investments, Bank Locations: Russia, US
The move, experts say, isn’t based on medical science but instead on ongoing efforts from anti-abortion advocates to restrict access to abortion medications in states with near-total bans, like Louisiana. During a medication abortion, mifepristone is given first, followed by misoprostol one to two days later. According to the new law, it’s not a crime for a patient to possess the medications if they were prescribed to them. Hospitals don’t need to remove misoprostol from hemorrhage carts, the spokesperson added, or hesitate to administer misoprostol to patients experiencing health emergencies. The testimony “illustrated that easy access to these drugs can be dangerous to pregnant women,” Murrill said in the statement.
Persons: — mifepristone, misoprostol, Jennifer Avegno, , Greg Caudill, ” Avegno, , mifepristone, it’s, Tamika Thomas, Magee, ” Thomas, “ We’re, Avegno, don’t, Liz Murrill, ” Murrill, Roe, Wade, Kaitlyn Joshua, , ’ ” Joshua, Joshua —, , ” Joshua, Lisa Boothby, , ” Boothby, They’ll, Boothby, You’re Organizations: New, New Orleans Health Department, NBC, Louisiana Society of Addiction, Gynecology, Louisiana Department of Health, Louisiana Society of Health, System, Physicians, Louisiana Legislature Locations: Louisiana, New Orleans, America, Baton Rouge
How consulting lost its cool
  + stars: | 2024-09-30 | by ( Lakshmi Varanasi | Tim Paradis | Kelsey Vlamis | ) www.businessinsider.com   time to read: +9 min
Consulting firms have faced increased employee turnover after layoffs and delayed start dates. For decades, business students and MBAs looked to consulting because the work was high in pay and prestige. AdvertisementThe lure of other industriesThe declining appeal of the consulting industry is most evident in the number of employees leaving. That's different from when he left in 2022, when there was a pandemic-fueled boom for consulting work. "When I was transitioning out of consulting, consulting was actually still all the rage.
Persons: , MBAs, Jason Saltzman, Lightbank, Ezra Gershanok, Gershanok, Gorick Ng, Ng, Matt Sternberg, Sternberg, he's, who've, Consulting hasn't, Ernst, Young, Irmgard Naudin, Cate, Atli Thorkelsson, Thorkelsson Organizations: Service, Accenture, Technologies, McKinsey, Harvard University, Boston Consulting Group, BI, Big, Consulting, Redpoint Ventures, Business Locations: , London
As a new month looms, Wall Street expects its favorite stocks to outperform — no matter what October might bring. Against this backdrop, CNBC Pro screened for Wall Street's favorite names that analysts believe could rally from here. Read's $150 price target is way above the consensus $137, and about 43% higher than where ConocoPhillips closed Friday. Analysts are also bullish on fellow energy producer Diamondback Energy , with the stock's upside to average price target coming in at 30%. Other stocks on Wall Street's list of favorites include casino operator MGM Resorts International and biotechnology firm Biogen .
Persons: Janney Montgomery, Dan Wantrobski, Wall, Goldman Sachs, Toshiya Hari, Wells, Roger Read, Read's, Piper Sandler, Mark Lear Organizations: Federal Reserve, November's U.S, CNBC Pro, Semiconductor, Micron Technology, Micron, Wall Street, ConocoPhillips, Diamondback Energy, Diamondback, Endeavor, MGM Resorts International Locations: November's, Friday's, Wells Fargo, Houston, Midland, 3Q24
MANTEO, N.C. — Multiple people died after a single-engine plane crashed Saturday afternoon in a wooded area at Wright Brothers National Memorial’s First Flight Airport, the National Park Service said. The crash occurred at 5 p.m. as, according to eyewitnesses, the airplane was trying to land at the airport, the park service said in a news release. The airplane caught fire after the crash, the park service said. The airport is closed until further notice, the park service said. The Wright Brothers National Memorial will be closed Sunday, the park service said.
Organizations: Wright, National Park Service, Hills Fire Department, National Transportation, Federal Aviation Administration, Wright Brothers Locations: N.C
David Tuckett, an uncertainty researcher, told BI that dismissing doubt eventually "leads over a cliff." He said the success of elite investors like Warren Buffett may be largely down to luck, not skill. AdvertisementEven the smartest minds in finance and tech don't know for sure what the future holds, and even the most successful investors may have gotten lucky, one expert says. Elon Musk responded on X that "Buffett is already preparing for this outcome," ostensibly suggesting Warren Buffett will offload stocks too if Donald Trump secures a second term. AdvertisementThat applies to even the best investors like Warren Buffett, he told BI.
Persons: it's Elon Musk, John Paulson, David Tuckett, Warren Buffett, , John Paulson —, Kamala Harris, Elon Musk, Buffett, Donald Trump, Paulson, Musk, David Tuckett Lucking, Tuckett Organizations: Service, Centre, University College London, HSBC Locations: Berkshire, Tuckett
Shifting to live selling changed everything. She shadowed a friend who was also starting to do live Whatnot shows. After just one month on Whatnot, Zapata says she did enough in sales to quit her insurance job in September 2022. Her advice to any online or brick-and-mortar store owner is to develop the skill of live selling. They're doing intros, they're interacting, they're really getting creative with the things that they're giving to their community.
Persons: Val Zapata, Zapata, , We've, We're, they're, They're, She's, Holly, Kobe Bryant Organizations: Service, Facebook, Business, YouTube, Twitter, eBay, Zapata's, BI, Kobe Locations: Houston, Nevada
AdvertisementJohn Hussman, the president of the Hussman Investment Trust who called the 2000 and 2008 market crashes, isn't shy about his characterization of the current market environment. The first piece of evidence Hussman cites is valuation, specifically the total market cap of non-financial stocks to total value added of those stocks. He predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up about 32% over the past year.
Persons: John Hussman, , It's, Mike Wilson, Michael Kantrowitz, Lance Armstrong, Hussman, Armstrong, David Walsh Organizations: Service, Hussman Investment Trust, Tour de France, Hussman, Intelligence, Labor Locations: Irish
SoftBank founder Masayoshi Son has spent his life putting bold bets on the future of technology. SoftBank, the media-technology conglomerate Son founded two decades prior, was riding high on the glory it attained in the dot-com boom. He was told he was special," Barber told BI. "He wants to be seen as the great modernizer transforming this petrostate into a truly modern economy where technology is at the forefront," Barber told BI. But as previous cycles in Son's life dictate, the flurry of enthusiasm is typically followed by failure.
Persons: Masayoshi Son, Lionel Barber, , Son, Bill Gates, Masa —, Uber, Barber, Vladimir Putin, Barack Obama, — he's, Jack Ma's Alibaba, Wang, he's, Napoleon Bonaparte, Genghis Khan, Qin Shi Huang, Emperor of, Microsoft's Gates, Jordan Strauss, Mitsunori, SoftBank, Rupert Murdoch, Larry Ellison, Jack Welch, Steve Jobs, Masayoshi, Justin Sullivan, Rajeev Misra, Nikesh Arora, Phil McCarten, Abu Dhabi's Mubadala, Mohammed bin Salman, Saudi, Michael Moritz, Kim Jong, Adam Neumann, Donald Trump, Wirecard, Jesus, NurPhoto, He's, Allen Lane Organizations: Service, Financial Times, Kremlin, Yahoo, Popular Electronics, Vision, Deutsche Bank, Google, Reuters, Saudi Arabia's Public Investment Fund, Vision Fund, Valley's, Sequoia Capital, Greensill, Nvidia, Signal Publishers Locations: Tokyo's Roppongi, Japan, Masayoshi, Washington, Wayne, Emperor of China, Kyushu, United States, Riyadh, Berkeley, Las Vegas
It was obvious to me that I wanted to do the inverse and build an all-female hacker house that created the same dynamic but with women." Cantillon, who has lived in several hacker houses over the years, saw a need for a space dedicated exclusively to women. That's why she co-founded HackHer House, the first all-female hacker house in the San Francisco Bay Area. Hacker houses aren't new to the Bay Area or cities like New York and London. In a city renowned for tech advancements, hacker houses are viewed as critical for driving the next wave of innovation.
Persons: Molly Cantillon, Cantillon, Jennifer Li, Andreessen Horowitz, Zoya Garg, Anna Monaco, Anne Brandes, Li Organizations: HackHer, Stanford University, . Venture, U.S Locations: San Francisco Bay, Silicon, North Beach, Bay, New York, London
In Catawba County, North Carolina, a 4-year-old who lit up every room she walked into was killed in a head-on car crash on a rainy road. And in Charlotte, North Carolina, a tree fell on a home, killing a resident. Leon Davis via FacebookOn Thursday morning, Davis’ brother, James Carlas Davis, who lives in Mississippi, texted Davis, their two sisters and other family members in a group text chat and asked whether they were ready for Helene. In North Carolina, officials said a resident of Charlotte was pronounced dead early Friday after wind and rain caused a tree to topple onto their home. Gaddis, who lives in Iredell County, North Carolina, added that her faith has helped her through the tragedy of losing Luna.
Persons: Hurricane Helene, Vernon Leon Davis, Christopher Wright, Davis, Wright, Blackshear, ” Wright, , ” Leon Davis, Leon Davis, James Carlas Davis, texted Davis, Helene, emoji, James Davis, Shirley, ” Davis, Rellina Davis Lester, , Luna Jade Gaddis, Luna, Lyndsey Nicole Gaddis, Tiffany Miner Sipe, Elizabeth Gaddis, Gaddis, Him, Vernon Leon Davis ’, Lester, ” Lester Organizations: Blackshear Police, Facebook, North Carolina, Patrol, NBC News, Locations: Blackshear , Georgia, Hurricane, Catawba County , North Carolina, Charlotte , North Carolina, Florida , Georgia, Virginia, Carolinas, In Georgia, Mississippi, North Carolina, Charlotte, Catawba, Claremont, Iredell County , North Carolina, Georgia, Ware, Culloden , Georgia, Germany, Fort Knox , Kentucky, Fort Hood , Texas
Hurricane Helene killed at least 22 people and left millions without power across the Southeast before weakening on its way north Friday morning, officials said. Hurricane-felled trees caused two deaths in Anderson County, South Carolina, officials said. Debris left by Hurricane Helene in Cedar Key, Fla., on Friday. Miguel J. Rodriguez Carrillo / AFP - Getty ImagesMeanwhile, more than 4.3 million people are experiencing power outages in South Carolina, Georgia, Florida, North Carolina and Virginia, according to poweroutage.us, which tracks utility data. At 11 a.m., the storm was 30 miles southwest of Bryson City, North Carolina, moving northward with maximum sustained winds of 45 mph.
Persons: Helene, Floridians, Jamie Cruse, “ We’re, , , Bruce Rector, NBC’s, Megan Varner, Brian Kemp, Ron DeSantis, Roy Cooper, Hurricane, Miguel J, Rodriguez Carrillo, Ana Gibbs, Ronda Bell, Mike Stewart, Joe Biden, Deanne Criswell Organizations: National Hurricane Center, NBC, ” Clearwater, Georgia Gov, Florida Gov, Gov, North Carolina, Highway Patrol, AFP, Getty, Florida, & Light Company, Duke Energy Florida, Duke Energy, Federal Emergency Management Locations: Big Bend, Florida’s, Perry , Florida, Clearwater, Gulf Coast, Atlanta, Georgia, Pinellas County , Florida, Florida, Dixie County, North Carolina, Catawba County, Charlotte, Anderson County , South Carolina, Cedar Key, Fla, South Carolina , Georgia, Virginia, Valdosta, Ga, Carolinas, Charleston, Wilmington, Raleigh, Norfolk, Bryson City , North Carolina, Georgia , Florida , Alabama, South Carolina
With this in mind, CNBC PRO screened for some safe-haven stocks that investors can look toward for some calm during the rocky times. Rate-sensitive utilities stocks have outperformed in recent weeks as investors look toward a lower interest rate environment. Two-thirds of analysts covering the stock rate it a buy or a strong buy, according to LSEG. To be sure, the stock is already trading 0.3% above its consensus price target, meaning it could be due for a pullback soon. Although more than half of analysts covering the company rate it a hold, the consensus price target implies more than 9% upside potential from Thursday's close, per LSEG.
Organizations: CNBC PRO, NextEra Energy, Electric Power, PPL, American Electric, Truist
This signal comes as the S & P 500 trades at all-time highs, boosted by a shift in Federal Reserve policy. The Fed earlier this month cut interest rates by a half percentage point, the first easing of policy in more than four years. Wall Street sees further reductions ahead, too. The Cboe Volatilty Index spiked north of 23 earlier this month, as worries over the U.S. economy weighed on sentiment. Elsewhere on Wall Street this morning , Morgan Stanley upgraded Wynn Resorts to overweight from equal weight.
Persons: Wolfe, Janney Montgomery Scott, Dan Wantrobski, Wantrobski, Morgan Stanley, WYNN's Organizations: Federal, Wynn Resorts Locations: U.S
Dalton, Georgia CNN —The face of a new era in American manufacturing is here, just off Interstate 75, tucked into this northwest corner of Georgia. That’s where you’ll find the Qcells plant that pumps out 32,000 solar panels a day and has a total panel production capacity of 5.1 gigawatts. They’re contributing back into the local community, paying taxes,” Nash said. The Qcells solar panel plant in Dalton, Georgia CNNTrump strikes a chordLocated in the congressional district represented by GOP firebrand Marjorie Taylor Greene, Dalton is Trump country. “You want to ask me that after November?” Nash, the Qcells plant manager, responded when asked about the future for the industry.
Persons: Dalton, , Lisa Nash, , didn’t, it’s, ” Nash, Biden, “ We’ve, Scott Moskowitz, Kamala Harris, Andi Rice, she’s, Kimberly Richardson, Harris, Richardson, Qcells, ” Richardson, Donald Trump, ” Kasey Carpenter, Dalton , Georgia CNN Trump, Marjorie Taylor Greene, ” Carpenter, Trump, George, Kasey Carpenter CNN, Brian Kemp –, can’t, Matt Santini, CNN's Phil Mattingly, “ It’s, ” Santini, Carpenter, , there’s, Mattingly, It’s, ‘ Don’t Organizations: Georgia CNN, CNN, Bloomberg, Getty, Republican, Dalton , Georgia CNN, GOP, Republican Gov, Biden, Trump, Oakwood Locations: Georgia, That’s, Dalton, Qcells, Dalton , Georgia, United States, Trump, Cartersville , Georgia, Atlanta
Spitznagel thinks they should focus instead on lagging drivers that could spur a sharp stock downturn. Advertisement"Black Swan" investor Mark Spitznagel thinks that the stock market's streak of record highs is distracting from a more jarring reality that could come by year-end. In a recent interview with Bloomberg TV, he said investors are currently enjoying a market that's in a "Goldilocks zone." "When the yield curve disinverts and then unverts, the clock starts ticking and that's when you enter black swan territory," Spitznagel told Bloomberg. He has warned of a stock market crash since January 2023, and back in July, he said the market's yearslong rally has become the "greatest bubble in human history," and its bursting would make for a recession.
Persons: Stocks, they've, Mark Spitznagel, Spitznagel, , That's, capitalizes Organizations: Service, Bloomberg TV, Bloomberg, Universa Investments
SKIP AHEAD Methodology | How we tested Hoka walking shoes | The best Hoka walking shoes | What’s so great about Hoka sneakers? How we tested Hoka walking shoesWhile testing Hoka walking shoes, we considered the following factors:Activity: We wore each sneaker while walking varying distances and for varying periods. Arch support : There are two main categories that shoes fall into: cushioning shoes and stability shoes. Material : We tested Hoka walking shoes between July and September to see how well they regulated our feet’s temperature. The best Hoka walking shoesAll the Hoka walking shoes we tested and recommend below are available in men’s and women’s sizes, as well as standard and wide widths.
Persons: I’ve, Hoka, it’s, Dr, Anne Sharkey, North Austin Foot, Sharkey, they’re, Cory Fernandez, Fernandez, , , Zoe Malin, There’s, Jordan Bowman, Bowman, wasn’t, That’s, Hoka’s, Nikki Brown, ” Brown, Mili Godio, Brown, Lindsay Schneider, “ They’re, Schneider, Bianca Alvarez, ” Alvarez, Alvarez, Hokas Rebecca Rodriguez, Rodriguez, Rodriguez’s, Zoe Malin What’s, “ Hoka, Brooks, Max, Glycerin Max, there’s, TikTok Organizations: NBC, North Austin, Institute, Zappos, Hoka Clifton, Clifton, Bondi, Transports, Brooks, Nike, Facebook, Twitter Locations: New York City, cushioning, men’s, New York
Comedy Wildlife Photography Awards finalists announced
  + stars: | 2024-09-26 | by ( Jack Guy | ) edition.cnn.com   time to read: +2 min
CNN —A smiling elephant seal, a stuck squirrel and a contemplative chimpanzee are among the images shortlisted for this year’s Comedy Wildlife Photography Awards. Each year, the competition supports a sustainable conservation organization and the Whitley Fund for Nature has been selected for 2024. The UK-based charity supports conservation leaders from around the global south. “It’s a privilege to be part of this exciting journey, making us all laugh and raising our awareness of animal conservation,” Sullam said. The overall, category and highly commended winners will be announced at an awards ceremony in London on December 10.
Persons: , Stefan Maier, Tom Sullam, , ” Sullam Organizations: CNN, Nikon, Fund for Nature Locations: London
Sharon Kim partnered with her oldest brother and his wife to purchase a home in the suburbs of New York City for around $750,000. Mickey Todiwala | CNBC Make ItKim and her brother weren't very close growing up, thanks to a seven-year age gap. Mickey Todiwala | CNBC Make ItThe increased down payment gave them the leverage they needed. Kim, her brother and his wife decided to complete the majority of renovations to the home themselves to cut down on costs. Mickey Todiwala | CNBC Make ItKim estimates they've spent around $40,000 on renovations so far.
Persons: Sharon Kim, Mickey Todiwala, Kim, weren't, homeownership, they've Organizations: CNBC, Parsons School of Design, YouTube, Parsons, Spotify, Amazon Prime, Apple Locations: New York City, Manhattan, Queens, New Jersey, South Korea
Read previewA nutrition researcher said that switching up her breakfast routine has helped her beat the 4 o' clock crash. Berry found out that her blood sugar was crashing every afternoon when she had a high-carb breakfast, which helped explain the exhaustion she'd been feeling. A high-protein breakfast can provide lasting fuelPrior to checking out her blood sugar response, Berry might have a pastry or white toast for breakfast. "An increase in circulating blood sugar is a normal physiological response to eating carbohydrate," she said. For instance, there's some evidence that eating late at night can prompt a bigger blood sugar response, but Berry said it's worth it to have dinner with her family.
Persons: , Sarah Berry, ZOE, Berry hadn't, Berry, she's, it's Organizations: Service, King's College, Business Locations: London
But as other pandemic Zoomtowns continue to see increases in prices and rents, Austin stands alone in its change of fortune. Housing in Austin has been through so many extreme distortions that nobody really knows what "normal" even means anymore. All told, Austin's housing stock has ballooned by more than 76,000 units since 2020, an 8.34% increase that includes single-family homes, condos, and townhomes. Considering the size of the Austin market, moving the stock of homes by nearly 10% is a colossal feat. Related storiesNobody watching the Austin market should be having flashbacks to the Great Recession.
Persons: Austin, homebuyers, homebuilders, Zillow, Elon Musk, Joe Rogan, Homebuyers, Keith Hughes, I'd, That's, Jason Lewris, Lewris, Doreen Sidney, Austin wasn't, Austin's homebuilders, Freddie, Sean Kelly, Rand, Freddie Mac, Jenny Schuetz, homebuilding, Kelly, he's Organizations: Austin, Oracle, Facebook, Google, Elon, Census, Parcl Labs, Federal Reserve, San Antonio —, Austin ., Freddie Mac, Brookings Institution Locations: California, Austin, Real, Texas, Francisco, San Francisco, San Antonio, Boston
A woman was rescued after a crash left a Porsche SUV dangling from the third floor of a parking garage in Coral Gables, Florida, on Monday, officials said. Coral Gables Fire Rescue officials said the crash sent the SUV through a concrete barrier. A Porsche SUV dangles from the third floor of a parking garage in Coral Gables, Fla., on Monday. Emergency personnel respond to a Porsche SUV accident as it dangles from the third floor of a parking garage in Coral Gables, Fla., on Monday. I heard a really hard crash, so I thought it was a car crash between two cars,” Katiana Polanco said.
Persons: Xavier Jones, WTVJ, Katiana Polanco Organizations: Porsche, Gables Fire Rescue, NBC South Florida's, Rescue Division, Emergency Locations: Coral Gables , Florida, Remo, Coral Gables, Fla
Many new programmers who start in Gaba's shoes turn to free YouTube videos or their pricey counterpart, programming courses. "I started learning programming very late in my life, around 25, and I was completely confused at the time," Gaba told Business Insider. In the search for alternative resources, Gaba discovered ways to access Google's programming courses for free. AdvertisementAuditing a Google programming course allows you to enroll without receiving credit or a certification. Gaba recommends Google's Machine Learning Crash Course as a great way to dabble in machine learning without being overwhelmed by every algorithm out there.
Persons: , Sahil Gaba, Gaba, SQL Gaba, GitHub Gaba, It's, Tess Martinelli Organizations: Service, Google, Business, Gaba, Amazon, Trade, Linux, SQL, Big Tech, Cybersecurity Locations: tmartinelli
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