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☆ Tiger Global-backed Productboard conducts third round of layoffs in two years, sources say
▼ + stars: | 2024-01-26 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Now, Productboard has begun another round of layoffs, the scale of which is unknown as yet, the former staffers said. Startups and Big Tech companies alike have slashed their wage bills as the high-interest rate environment encourages businesses to prioritize sustainability over growth. AdvertisementIn January alone, 76 tech companies have laid off 21,370 employees, according to tracker site Layoffs.fyi.

Persons: —, Productboard, Daniel Hejl, Hubert Palan, Kleiner Perkins, Palan, Productboard's headcount Organizations: Service, Business, Tiger Global, Dragoneer, Microsoft, Volkswagen, Sequoia, Bessemer Venture Partners, Index Ventures, Big Tech, Bloomberg, LinkedIn Locations: San Francisco, Czech Republic, Silicon Valley, Sequoia Capital, Productboard

Political Cartoons View All 253 ImagesThe action brings the state's total of preliminarily approved offshore wind projects to three — the same level it was at before Danish wind developer Orsted scrapped its two wind farms proposed for the state's southern coast in October. (Phil) Murphy are back on our front foot in terms of offshore wind,” he said. “New Jersey’s selection of an American-led project is a tremendous step forward for the growth of the domestic offshore wind industry,” the companies said in a statement. “Today’s NJBPU award brings the reality of offshore wind off the Jersey Shore one step closer, and it will build a future where wind can power our state’s economy and help us to transition off fossil fuels,” said Doug O'Malley, director of Environment New Jersey. The state plans to solicit another round of wind farm proposals in the first half of this year.

Persons: Christine Guhl, Sadovy, Damian Bednarz, ”, Tim Sullivan, Phil, Murphy, Today’s, Doug O'Malley, Anjuli Ramos, William Sproule, “, ___, Wayne Parry Organizations: CITY, of Public Utilities, New, New Jersey Economic Development Authority, Gov, Jersey Shore, Environment, Jersey, New Jersey Sierra Club, Eastern Atlantic States Regional, of Carpenters Locations: N.J, New Jersey, Seaside, , New Jersey, Atlantic Shores, Chicago, New York, Long, “, American, Environment New Jersey, Jersey Shore, New

☆ A 28-year market vet breaks down why the risk of a recession is 'higher than thought' — and warns 73 years of market history shows stocks are likely in for a terrible year
▼ + stars: | 2024-01-20 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

"However, the decline in full-time employment suggests recession risks are higher than thought." Here's the drop in wage growth Roberts mentions. At the moment, CEO confidence isn't great, Roberts pointed out, which could mean further trouble ahead for employment growth. AdvertisementA warning sign for stocksWhile it will take time for the labor market outlook to become clear, Roberts said stocks are already flashing signs of trouble. But that view became less popular in the second half of 2023 as the labor market proved resilient month after month amid Federal Reserve rate hikes, and inflation dropped to under 4%.

Persons: —, Lance Roberts, Roberts, St, Louis Fed, it's Organizations: Service, RIA, Business, Bureau of Labor Statistics, Conference, Federal Reserve

☆ SpaceX is trying to take down the NLRB after a group of employees wrote an open letter denouncing Elon Musk's embarrassing behavior
▼ + stars: | 2024-01-14 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Elon Musk's SpaceX has filed suit against the NLRB, arguing its proceedings are unconstitutional. The suit follows an NLRB accusation that SpaceX illegally fired employees who complained about Musk. SpaceX's suit could have wide-reaching impacts on federal agencies if successful, an expert told BI. Eight SpaceX employees were wrongfully terminated for their involvement in drafting and posting the letter, the NLRB alleged in its complaint against the billionaire's spacecraft manufacturing company. AdvertisementThe NLRB, in response to SpaceX's suit, has argued the case should be heard in California.

Persons: Elon, —, Musk, Musk's, SpaceX's, David Wimmer, Jerry Cutler, Cutler, Wimmer, they've Organizations: SpaceX, Service, National Labor Relations Board, Court, Southern, Southern District of Texas, Musk ., NLRB, Business Insider, Elon, Twitter, SpaceX Microsoft, CBS, United States, Supreme, Circuit, Columbia University, National Labor Relations Act, Federalist Society Locations: Brownsville, Southern District, Texas, California

☆ A famed economist who called the 2008 recession warns stocks look 'eerily similar' to how they did before their 25% drop in 2022 — and says the US economy is still heading for a downturn
▼ + stars: | 2024-01-13 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

He is the founder of Rosenberg Research and the former chief economist at Merrill Lynch — and he called the 2008 recession. Rosenberg ResearchRosenberg's model takes into account stock valuations, investor sentiment, market technicals, investor positioning, and macro fundamentals. Here's The Conference Board's Leading Economic Index, which bundles together manufacturing data, bond and stock market performance, housing market activity, and consumer sentiment data. The economy doesn't jump from a tight labor market to layoffs," Rosenberg said in a note on Friday. Labor market and inflation data in the months ahead will tell the story for the US economy.

Persons: David Rosenberg, Merrill Lynch —, Rosenberg, It's, —, Louis, GMO's Jeremy Grantham, Societe Generale's Albert Edwards Organizations: Rosenberg Research, Business, Research, Federal Reserve Bank of St, CNN, National Federation of Independent Businesses, Rosenberg, Societe Generale's, Federal, Labor, CPI

☆ Larry Fink just kicked off the last chapter of his BlackRock reign
▼ + stars: | 2024-01-12 | by ( Michelle Abrego | Rebecca Ungarino | ) www.businessinsider.com time to read: +6 min

This all comes as Larry Fink, 71, is entering what is likely the last chapter of a successful career as cofounder and chief executive of $10 trillion BlackRock. Here's everything you need to know:BlackRock is set to buy Global Infrastructure Partners in its biggest deal in 15 yearsThroughout 2023, Fink signaled that a "transformational deal" was on the cards. He found his target in private equity firm and infrastructure investor Global Infrastructure Partners, the firm announced on Friday. Jessica Tan, head of BlackRocks' sustainability and transitions strategy, will head the global product solutions team in the Americas. Charles Hatami, global head of the financial and strategic investor group that focuses on relationships with large investors like insurers and sovereign wealth funds, will join BlackRock's global executive committee.

Persons: Larry Fink, Fink, Rob Kapito, BlackRock iShares, GIP, Kapito, Goldman Sachs, Goldman, David Solomon's, Ogunlesi, Wells, Mike Mayo, Larry, Stephen Cohen, Salim Ramji, Jessica Tan, Jane Sloan, GIP's, Edwin Conway, Conway, Rachel Lord, Lord, Charles Hatami Organizations: Business, BlackRock, Global Infrastructure Partners, GIP, London Gatwick, Wall Street, Asia Pacific, Securities, Exchange Commission Locations: Sydney, Bayo, Ogunlesi, BlackRock, Americas, Europe, East, India, Asia, Pacific

WASHINGTON (AP) — The Supreme Court on Friday agreed to hear an appeal from Starbucks in a dispute with the National Labor Relations Board over efforts by workers to unionize at a store in Memphis, Tennessee. The case has been among the most closely watched in the more than 2-year-old effort to unionize Starbucks' company-owned U.S. stores. Workers United, the union organizing Starbucks workers, said the company is trying to weaken the labor board's ability to hold companies accountable. “There’s no doubt that Starbucks broke federal law by firing workers in Memphis for joining together in a union,” Workers United said. “The district court determined that, and the decision was affirmed by one of the most conservative courts in the nation.”The Memphis store did eventually vote to unionize.

Persons: —, “ Organizations: WASHINGTON, Starbucks, National Labor Relations Board, NLRB, Sixth U.S, Circuit, Appeals, Supreme, . Workers United, ” Workers Locations: Memphis , Tennessee, Memphis, Seattle

Here are 6 signals investment bankers are watching as they pray for an M&A rebound in 2024. By contrast, activity from private equity firms "was off almost 40%," he said. In 2021, private equity firms transacted $1.5 trillion across 2,869 deals, according to Dealogic. Last year, private equity M&A made up 40% of total activity, according to Goldman Sachs. AI companies, many of which are only now being formed, need to mature, and the winners and losers need to come into focus, bankers said.

Persons: Wall, LSEG, Goldman Sachs, Vito Sperduto, Sperduto, we've, Stephan Feldgoise, Hess, Anthony J, Carfang, Cash, Goldman, Goldman's Feldgoise, Feldgoise, Mark Sorrell, I'm, Harold M, Lambert, Jerome Powell, Greg McBride, McBride, Jonathan Gray, dealmaking, Gray, Rob Chisholm, Chisholm Organizations: Fed, London Stock Exchange, Business, RBC Capital Markets, Conference Board, Conference, Federal, Goldman, Federal Reserve, Private, Bankers, DOJ, FTC, Federal Reserve Board, Bankrate, of Labor Statistics, Cisco, LSEG, Qatalyst Partners, Citi, & $ Locations: LSEG, Ukraine

☆ Inflation has created a dark cloud over how everyday Americans view the economy
▼ + stars: | 2023-12-25 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

There's rising hope that monetary policymakers have successfully cooled inflation without tipping the economy into a recession. Yet closely watched survey data from the University of Michigan shows consumer sentiment, while improving, is a far cry from pre-pandemic levels. Inflation vs. the job marketContinued strength in the labor market is something economists expected to sweeten everyday Americans' views of the economy. While the Michigan index compiles questions focused on financial conditions and purchasing power, the Conference Board's more closely gauges one's feelings about the job market. A hot job market can be a double-edged sword for sentiment, Michigan's Hsu noted.

Persons: Scott Olson, Kyle Connolly, Connolly, she's, Joanne Hsu, we're, Hsu, That's, Camelia, Kuhnen, Michigan's Hsu, UNC's Kuhnen, Karen Dynan, Marissa Lyda, Lyda, She's, there's, There's, Harvard's, Dynan, Jerome Powell, Kevin Lamarque Organizations: Toyota, Facebook, Federal Reserve, University of Michigan, Bureau of Labor Statistics, Labor Department, Conference, University of North, U.S . Treasury Department, Walmart, Federal, Committee Locations: Chicago , Illinois, Florida's panhandle, Michigan, University of North Carolina, Harvard, Phoenix, Portland, Kroger, Washington , U.S

☆ OpenAI's nonprofit arm showed revenue of $45,000 last year, even though company is worth billions
▼ + stars: | 2023-12-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +6 min

That's from the nonprofit parent's 990 filing with the Internal Revenue Service, a form that has to be filled out by organizations wishing to maintain their tax-exempt status. Thad Calabrese, a professor of public and nonprofit financial management at New York University, said OpenAI's current status is confusing, and is unlike anything he has seen in the nonprofit world. He said OpenAI could give up its nonprofit status, and he cited the Blue Cross Blue Shield Association, which in 1994 allowed associated nonprofit medical insurance plans to switch into for-profit entities. An OpenAI spokesperson didn't respond to a question about whether the organization is considering giving up its nonprofit status. Unlike OpenAI, Mozilla never raised money from venture and corporate investors, who expect returns on their investments.

Persons: Sam Altman, OpenAI's financials, OpenAI, That's, PlainSite, Altman, Helen Toner, Tasha McCauley, Ilya Sutskever, Thad Calabrese, Calabrese, didn't, Mark Surman, Surman, Altman's, hasn't, Bret Taylor Organizations: Internal Revenue Service, CNBC, New York University, Shield Association, Mozilla Foundation, Mozilla Corporation, Mozilla, Microsoft, Duke University Locations: California

Read previewThe firing and rehiring of OpenAI CEO Sam Altman has undone months of effort by Microsoft to avoid antitrust regulators probing its massive investment in the startup. It's tough to keep a huge business partnership like this out of what can be intense scrutiny from antitrust regulators. Nadella agreed to give Altman and Brockman their own research arm at Microsoft, if he couldn't negotiate their return to OpenAI. Another interpretation is that Microsoft is keen to show antitrust regulators that OpenAI is an independent company, and not controlled by the software giant. AdvertisementDo you work for OpenAI or Microsoft, or are you someone with a tip or insight to share?

Persons: —, Sam Altman, Lina Khan, OpenAI, Altman, Satya Nadella, Kevin Scott didn't, Kevin, Satya, Microsoft's, Brad Smith, Frank Shaw, Sam, Nadella, Altman's, Greg Brockman, Brockman, Amy Hood, ChatGPT, doesn't, Kali Hays, Ashley Stewart, Darius Rafieyan Organizations: Service, Microsoft, Business, FTC, OpenAI, Activision, Blizzard, Markets, Bloomberg, Chief Locations: OpenAI, khays@insider.com, astewart@insider.com

☆ Facing fines, cluttered aisles and late-night mockery, Dollar General's returning CEO tries to drive a turnaround
▼ + stars: | 2023-12-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

The exterior of a Dollar General convenience store is seen in Austin, Texas, on March 16, 2023. Dollar General has gotten hit by steep fines for safety violations, slammed on late-night TV and even overruled by its own shareholders. Dollar General may have topped Wall Street's fiscal third-quarter expectations, but it has had a tough year. Shares of Dollar General closed Wednesday at $133.92, down by about 46% so far this year. On a recent episode of HBO's "Last Week Tonight with John Oliver," the comedian ridiculed Dollar General and its rival, Dollar Tree .

Persons: Todd Vasos, Vasos, Jeff Owen, Michael Calbert, John Oliver, I've, whittle Organizations: Dollar, LSEG, federal, Safety, Health Administration, OSHA, CNBC PRO Locations: Austin , Texas

☆ Mariah Carey is the de facto ruler of Christmas, but a new rival is coming for her holiday throne
▼ + stars: | 2023-12-05 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

"Rockin' Around the Christmas Tree" finally hit number 1 on Billboard's Hot 100 singles charts. Singer Brenda Lee told Billboard a "conglomerate of a lot of people" helped make the song a hit. "Rockin' Around the Christmas Tree," the 65-year-old Brenda Lee holiday staple, finally hit number 1 on Billboard's Hot 100 singles charts, Billboard reported on Monday. Lee told The Tennessean in 2015 that she had no idea why Marks was so adamant about her singing the song. Carey's Christmas hit, of course.

Persons: Singer Brenda Lee, —, Mariah Carey, Carey, Brenda Lee, Lee, Tanya Tucker, Trisha Yearwood, Johnny Marks, Holly Jolly, Marks Organizations: Billboard, Service, Roll Hall of Famer, Tennessean Locations: American

☆ We now have more details on what the heck happened at OpenAI
▼ + stars: | 2023-12-01 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

A new report described in more detail why the OpenAI board initially pushed out Sam Altman. Altman reportedly tried to get a board member, Helen Toner, kicked out, but it backfired. The report cited an unnamed source who said Altman tried to play board members against each other. Here's what the outlet wrote in part (emphasis added):Some members of the OpenAI board had found Altman an unnervingly slippery operator. Read here: The Inside Story of Microsoft's Partnership With OpenAI (The New Yorker)

Persons: Sam Altman, Altman, Helen Toner, —, Sam Altman —, Kevin Scott, Mira Murati, he'd, OpenAI, Toner Organizations: Service, Yorker, Microsoft, New York Times, Center for Security, Emerging Technology, Georgetown University, Microsoft's Locations: Turkey, New, Yorker

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 29 (Reuters) - Microsoft will take a non-voting, observer position on OpenAI's board, CEO Sam Altman said in his first official missive after taking back the reins of the company on Wednesday. The observer position means Microsoft's representative can attend OpenAI's board meetings and access confidential information, but it does not have voting rights on matters including electing or choosing directors. The new OpenAI board is on an active search for six new members with expertise in fields from technology to safety and policy. OpenAI's chief scientist Ilya Sutskever will no longer be part of the board, Altman said. Apart from Altman, Brockman, Sutskever, D'Angelo, OpenAI's previous board consisted of entrepreneur Tasha McCauley, Helen Toner, director of strategy at Georgetown's Center for Security and Emerging Technology.

Persons: Dado Ruvic, Sam Altman, Satya Nadella, Altman, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Mira Murati, Greg Brockman, Greg, Ilya Sutskever, Sutskever, Ilya, Brockman, D'Angelo, OpenAI's, Tasha McCauley, Helen Toner, Akanksha, Krystal Hu, Sayantani Ghosh, Stephen Coates Organizations: REUTERS, Microsoft, U.S . Treasury, Reuters, Georgetown's Center for Security, Emerging Technology, Thomson Locations: OpenAI, Bengaluru, New York, San Francisco

☆ A former OpenAI board member says Sam Altman's firing wasn't 'motivated by a desire to slow down OpenAI's work'
▼ + stars: | 2023-11-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Former OpenAI board member Helen Toner has announced her resignation. Toner said that the board wasn't trying to slow down OpenAI's work by firing CEO Sam Altman. AdvertisementFormer OpenAI board member Helen Toner says the board wasn't trying to stifle the company's progress by removing CEO Sam Altman. Though there has been speculation, we were not motivated by a desire to slow down OpenAI’s work. AdvertisementAside from bringing back Altman, OpenAI welcomed a new initial board comprising Bret Taylor, Larry Summers, and Adam D'Angelo.

Persons: Helen Toner, Toner, Sam Altman, Altman, —, wasn't, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Taylor, Tasha McCauley, Ilya Sutskever . Organizations: Service, Georgetown University's Center for Security, Emerging Technology, Microsoft, Business Insider Locations: OpenAI's

☆ Some OpenAI employees are still feeling uneasy and looking for other jobs despite Sam Altman's return, report says
▼ + stars: | 2023-11-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Altman is back in charge of OpenAI but some employees are still feeling nervous, per Semafor. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementOpenAI's CEO Sam Altman may be back in charge but some employees are still feeling uneasy. According to one of the outlet's sources, rival AI company Cohere has received several inquiries from OpenAI employees in recent days. AdvertisementAI companies Hugging Face and Cohere told CNBC they've had more customer inquiries following Altman's ousting and reinstatement as CEO.

Persons: Sam Altman, —, Semafor, Altman, We've, Sam, Cohere, Marc Benioff, Salesforce's Einstein, CNBC they've, Clément Delangue, OpenAI Organizations: Service, Salesforce's, CNBC Locations: OpenAI

NEW YORK (AP) — Most drivers would pay $15 to enter Manhattan’s central business district under a plan released by New York officials Thursday. Officials say that in addition to funding needed transit improvements, congestion pricing will result in improved air quality and reduced traffic. Opponents include taxi drivers, who had pushed for a full exemption. Phil Murphy criticized the traffic mobility board's proposal after some news organizations reported on it Wednesday ahead of its official release. The MTA board will vote on the plan after a series of public hearings scheduled for February 2024.

Persons: ” Carl Weisbrod, Bhairavi Desai, Phil Murphy, George Washington, Murphy Organizations: New, Revenue, Traffic, Metropolitan Transportation Authority, Government, MTA, New York City Taxi Workers Alliance, ” New, ” New Jersey Gov, George Washington Bridge Locations: New Jersey, United States, Manhattan, London, Stockholm, New York City, U.S, New York, ”, ” New Jersey

☆ The hidden expense that's sucking $74 billion out of the economy
▼ + stars: | 2023-11-30 | by ( Bartie Scott | ) www.businessinsider.com time to read: +14 min

They said rising costs kept the board from expanding amenities residents wanted, such as a shared composting system. jhorrocks/Getty ImagesRising price for peace of mindIn the constellation of household costs, insurance is often one of the lesser-noticed line items. But recently the rising cost of repairs and the frequency of damaging weather events have made the deal go sour. Rising insurance costs could inflict more pain on another bruised area of the economy: housing affordability. For this reason, insurance companies could decline to cover them or require costly upgrades before agreeing to a policy.

Persons: that'd, Mark Pauly, Tim Quinlan, you'll, Quinlan, it's, Francesco D'Acunto, D'Acunto, Pauly, they've, Nature, John Coletti, That's, Bartie Scott Organizations: Insurance, Research, Bank of America, Global, American, Casualty Insurance Association, University of Pennsylvania's Wharton School of Business, Insurance Information Institute, Georgetown University's McDonough School of Business, Social Security, National Flood Insurance, Business Insider's Locations: Logan, Chicago, Florida, Wells Fargo, California

☆ Bob Iger says Disney made too many sequels but he won't apologize for making them
▼ + stars: | 2023-11-30 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Quantity has diluted quality at Disney, CEO Bob Iger says. "I don't want to apologize for making sequels," he said. AdvertisementDisney CEO Bob Iger delivered a candid critique of his company during an interview at The New York Times DealBook Summit on Wednesday. And quantity, in our case, diluted quality, and Marvel has suffered greatly from that," Iger said. AdvertisementIn November 2022, Iger emerged from retirement to return to Disney as its CEO, a position he had previously held for 15 years.

Persons: Bob Iger, —, Iger, they've, Bob Chapek Organizations: Disney, Service, The New York Times, Summit, Marvel Locations: Kingdom, Disney's

☆ Sam Altman says he harbors 'zero ill will' towards former OpenAI board member Ilya Sutskever
▼ + stars: | 2023-11-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

OpenAI's Sam Altman says he has "zero ill will" towards cofounder Ilya Sutskever. Sutskever, a former OpenAI board member, had previously voted to fire Altman as CEO. AdvertisementOpenAI CEO Sam Altman says he has no hard feelings towards former board member Ilya Sutskever. Besides reinstating Altman, OpenAI welcomed a new initial board comprising Bret Taylor, Larry Summers, and Adam D'Angelo. Taylor, who is OpenAI's new board chair, said on Wednesday that OpenAI backer Microsoft would be given a non-voting board observer seat.

Persons: OpenAI's Sam Altman, Ilya Sutskever, Altman, Sutskever, —, Sam Altman, Ilya, Sutskever didn't, Sam, Alex Weingarten, OpenAI, Bret Taylor, Larry Summers, Adam D'Angelo, Taylor Organizations: Service, New York Times, The Times, Microsoft, Business Insider Locations: OpenAI

☆ OpenAI doesn't plan to offer Microsoft or other outside investors a board seat: reports
▼ + stars: | 2023-11-29 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI doesn't plan to give board seats to investors like Microsoft, per Reuters and The Information. AdvertisementSome of OpenAI's biggest backers are unlikely to gain board seats even after the company's management shakeup, Reuters and The Information reported on Tuesday. OpenAI's new board is not planning to offer board seats to outside investors, such as Microsoft, Thrive Capital, and Khosla Ventures, Reuters reported, citing a source familiar with the matter. AdvertisementOpenAI cofounder and CEO Sam Altman was fired by his company's board on November 17, before staging a dramatic comeback five days later. OpenAI, Microsoft, Thrive Capital, and Khosla Ventures did not immediately respond to requests for comment from Business Insider, sent outside regular business hours.

Persons: OpenAI, Satya Nadella, —, shakeup, Thomas Hayes, Sam Altman, Altman's, Larry Summers, Bret Taylor, Adam D'Angelo, Altman, Nadella, Kara Swisher, Swisher Organizations: Microsoft, Reuters, Service, OpenAI's, The, Khosla Ventures, Hill Capital, Business Locations: OpenAI

☆ Goldman Sach's David Solomon says he still DJs as a 'hobby' — but won't let his 'passion' distract from his day job
▼ + stars: | 2023-11-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Goldman Sachs boss David Solomon told the Financial Times that DJing was still his "passion." His gigs at music festivals sparked internal unrest at the Wall Street bank. "But if my doing it publicly in any way is distracting to Goldman Sachs, my number one focus is Goldman Sachs," he added. Solomon's decision to stop came amid increasing discontent at the Wall Street giant over a number of issues, including his high-profile gigs. Goldman Sachs declined to comment when contacted by Insider.

Persons: Goldman Sachs, David Solomon, —, Goldman, It's, Solomon, DJ'ing Organizations: Financial Times, Service, Hamptons, New York Times, Wall

☆ We see a 'short & shallow' recession in the first half of 2024: The Conference Board's Dana Peterson
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe see a 'short & shallow' recession in the first half of 2024: The Conference Board's Dana PetersonDana Peterson, The Conference Board chief economist, joins 'Squawk Box' to discuss the state of the economy, health of the consumer, revised Q3 GDP data, and more.

Persons: Dana Peterson Dana Peterson Organizations: The Conference Board

☆ Bedrock exec questions, without evidence, if a former OpenAI board member is a Chinese agent
▼ + stars: | 2023-11-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

After Sam Altman's ouster, many are wondering why OpenAI board members booted him. Bedrock Capital's founder, an OpenAI investor, is more concerned with a board member's background. Geoff Lewis said, without offering evidence, he thinks an ex-board member's ties to China should be examined. Instead of debating Toner's reason to oust Altman, Lewis said the "right set of questions" should be aimed at her background. AdvertisementToner, along with Tasha McCauley, the only two female board members of OpenAI, were removed from the board following their votes to vacate Altman from his role as CEO.

Persons: Sam Altman's, Geoff Lewis, —, Sam Altman, Altman, Helen Toner, Lewis, Toner, CNBC's Rebecca Quick, Tasha McCauley Organizations: Service, Chinese Communist Party, CNBC, Oxford University's Center, Twitter, US Social, Foreign Affairs, Bedrock, Business, The New York Times, Microsoft Locations: China, OpenAI, Beijing

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