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☆ Deutsche Bank's chief innovation officer lifts the hood on the German bank's AI strategy as it hires hundreds and runs dozens of pilots
▼ + stars: | 2023-09-11 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

Deutsche Bank is aggressively experimenting with AI capabilities to transform the bank. Then they cut to black before text came into focus to provide intel on Cymbal, a hypothetical corporate client of Deutsche Bank. Deutsche Bank is aiming to transform the business and work of banking. There's a lot of assumptions," Gil Perez, Deutsche Bank's chief innovation officer, told Insider. The bank will need to compete for in-demand AI tech talent, a market that is only set to heat up.

Persons: Gil Perez, Perez, Tamara Bitticks, Bitticks, There's Organizations: Deutsche Bank, DB, intel, Google, Deutsche, Bankers, Wall, genAI Locations: San Francisco, Washington

☆ UAW union embraces social media as labor talks toughen ahead of deadline
▼ + stars: | 2023-09-09 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +4 min

United Auto Workers President Shawn Fain greets UAW autoworkers, at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 9 (Reuters) - The United Auto Workers union is leveraging the power of social media to attract public support in demanding substantial wage increases for hourly workers as a deadline looms with the Detroit Three automakers. On Friday, he said the UAW was prepared to strike all three companies if no deals are reached. "What we've seen is the new president of the UAW taking an offer from the automakers and throwing it in a wastebasket on social media. This week, the UAW released a video in an effort to save a shuttered Stellantis plant in the northern Illinois town of Belvidere.

Persons: Shawn Fain, Rebecca Cook, Shawn Fain hasn't, Daniel Ives, Fain, He's, Harley Shaiken, Brian Rothenberg, Tesla, there's, Matt Frantzen, he's, Bianca Flowers, Leslie Adler Organizations: United Auto Workers, UAW, Sterling Heights Assembly, REUTERS, Detroit Three, Motors, Ford, Facebook, Twitter, University of California, Auto, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Berkeley, Illinois, Belvidere, Stellantis, Chicago

This is because blast furnaces operate around the clock and need more workers. Goncalves is also betting that producing iron ore in-house for blast furnaces, rather than sourcing scrap steel for electric arc furnaces, will give Cliffs a competitive edge. While a few carmakers use aluminum for automotive bodies, most prefer high-grade steel from blast furnaces. Cliffs' devotion to blast furnaces, which are unionized unlike some electric arc furnaces, won it the support of United Steelworkers. The union's international president Thomas Conway said it's backing Cliffs' bid for U.S. Steel because of Goncalves' commitment to blast furnaces.

Persons: Lawrence Bryant, Lourenco Goncalves, Goncalves, Josh Spoores, Donald Trump, Phil Gibbs, Thomas Conway, Joe Biden's, Isla Binnie, Bianca Flowers, Greg Roumeliotis, Daniel Wallis Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, Cliffs Inc, U.S, U.S . Steel Corp, AK Steel, CRU Group, Steel Dynamics, Steel, Reuters, United Steelworkers, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, CHICAGO, United States, Cleveland, North America, Asia, Toledo , Ohio, New York, Chicago

☆ How private equity giants like Apollo and EQT are using the cloud to improve dealmaking, boost portfolio companies, and tap into AI
▼ + stars: | 2023-09-05 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Here's how Apollo and EQT use Google Cloud to improve themselves and their portfolio companies. The cloud represents big cost savings and efficiency gains among portfolio companies; for example, buyout firm THL migrated one of its portfolio companies to the cloud to save 50% on annual IT infrastructure costs. PE firms benefit from having their data — and their portfolio companies' data — in one place to gain better business insights and check out opportunities. Using cloud to improve portfolio companies and investment firms themselvesBoosting employee productivity with the cloud and AI is top of mind for Apollo's Mahidhar. Google Cloud's tech talent has also helped Swedish PE giant EQT speed up cloud projects among portfolio companies.

Persons: Vikram Mahidhar, THL, Mahidhar, Carl, Magnus Hallberg, execs, Adaire Fox, Martin, Hallberg, Apollo's Mahidhar, it's, —, Zac Maufe, Maufe, it'll, Fox Organizations: Apollo Global Management, Apollo, Google, KKR Locations: EQT, Swedish

☆ AllianceBernstein is using AI on everything from research to operations. Here's how it's helping the $704 billion asset manager save hundreds of thousands of dollars.
▼ + stars: | 2023-09-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Here's how AB uses AI to get an edge, save analysts hours of work, and improve risk management. Seven years ago, the massive money manager AllianceBernstein set out on a mission to transform itself with AI and data science. The move would save AB hundreds of thousands of dollars and help its investors seek an edge with the $704 billion assets they manage. Chin lifted the hood on the asset manager's AI strategy and use cases. For instance, one signal compares regulatory filings for differences in company strategy or management.

Persons: AllianceBernstein, Andrew Chin, Chin, Larry Fink, terminations, It's Organizations: Wall Street, Vanguard, Fidelity Locations: BlackRock

☆ Here's who's leading Morgan Stanley's cloud initiatives after the bank's lead departs for Microsoft
▼ + stars: | 2023-08-31 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Allison Gorman Nachtigal was previously the head of Morgan Stanley's cloud program. Allison Gorman Nachtigal, the former head of Morgan Stanley's cloud program, has departed the bank for the tech giant, Insider has learned. Microsoft's cloud computing program Azure is Morgan Stanley's primary cloud partner. As Morgan Stanley's new head of cloud engineering, Nam handles the plumbing behind Morgan Stanley's cloud efforts. Meanwhile, Brosnan, head of technology architecture and modernization, absorbed Morgan Stanley's cloud architecture and business enablement responsibilities.

Persons: Allison Gorman Nachtigal, Morgan, Yunchi Nam, Trevor Brosnan, Morgan Stanley, Gorman Nachtigal, Morgan Stanley's, Nam, Brosnan, Michael Poser Organizations: Microsoft

☆ Here’s what it takes to become an ‘It Girl’ today
▼ + stars: | 2023-08-29 | by ( Diana Pearl | ) edition.cnn.com time to read: +8 min

Today, it’s a job in and of itself — one that, to do successfully, requires a team behind you. Richie Grainge had been working as a model for years, and was also known as the little sister of 2000s It girl Nicole Richie. Madison McGaw/BFA.com/ShutterstockGetty has all the makings of a classic It girl — famous family, beautiful looks, a distinct sense of style. “It takes a different kind of confidence to be a little more quiet and still be noticed,” said Baruch. “Even if you have the tools and are following all the calculations of what it takes to be an It girl, it still might not pop,” said Delmonte.

Persons: aren’t, they’re, Clara Bow —, it’s, Andy Warhol, Edie Sedgwick, Bianca Jagger, Carolyn Bessette, Kennedy, Alexa Chung, Jagger, ”, Jeni Rose, That’s, Sofia Richie Grainge, she’s, Jo Malone, Richie Grainge’s nuptials, Liat Baruch, Richie Grainge’s, that’s, We’ve, Anne Hathaway, Erin Walsh, Valentino minidress, Richie Grainge, Nicole Richie, Robyn DelMonte, Ivy Getty, J, Paul Getty, Madison McGaw, Shutterstock Getty, Savannah Engel, —, “, ” Getty, Engel, Federica Parruccini, ” Parruccini, Getty, Hailey Bieber, Rose, John Springer, It’s, influencers, Baruch Organizations: The, Fashion, CNN, Cannes Film, Vogue, San, &, Cannes, Rhode Locations: South, France, Maybelline, Los Angeles, San Francisco, Savi, “

Insider asked more than 30 top fintech investors to nominate the most promising startups. VCs highlighted startups that haven't raised more than a Series C.Here are the 54 most promising fintechs. Insider surveyed 34 early-stage investors — including Bain Capital Ventures, Point72 Ventures, and Index Ventures — about the hottest fintechs to watch. As was the case last year, fintechs that sell to businesses, as opposed to those that serve consumers directly, dominated the list. Check out the 54 fintechs identified as most promising by top investors.

Persons: VCs, we'll, Mark Peter Davis Organizations: Bain Capital Ventures, Point72 Ventures, Ventures, Interplay

☆ Larry Rudolph, dentist who killed wife on safari, sentenced to life in prison
▼ + stars: | 2023-08-22 | by ( Jamiel Lynch | ) edition.cnn.com time to read: +3 min

A jury last year found Lawrence Rudolph guilty of murdering his wife, Bianca, while they were on a hunting trip in the southern African country. Rudolph then filed over $4 million in fraudulent life insurance claims after returning to the US, the release said. I would not murder my wife,” Rudolph told jurors when he took the stand in his own defense. The Phoenix couple shared a passion for big-game hunting and had traveled to Zambia in September 2016 so Bianca Rudolph could add a leopard to her collection of animal trophies. Rudolph killed his wife for insurance money and to be with his girlfriend, Lori Milliron, prosecutors argued.

Persons: Lawrence Rudolph, Bianca, Rudolph, “, Bianca Rudolph, ”, Mark Michalek, ” Rudolph, “ Larry, David Oscar Markus, Margot Moss, Lauren Doyle, Lori Milliron, Milliron, John Dill, ” Dill, “ Lori Milliron, ” Markus Organizations: CNN, US, Office, District of, FBI, DOJ, Denver FBI, Department of Justice Locations: American, Zambia, District of Colorado, Denver, Pittsburgh

☆ Citadel is rebuilding a core tech platform to transform how the hedge fund uses data. 2 tech leaders take us inside the multi-year project.
▼ + stars: | 2023-08-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Citadel is completely rebuilding a new platform for all of the hedge fund's reference data. The platform is currently being rolled out and will let the fund move into new asset classes faster. Now, the migration to a new reference-data platform is underway. With the new solution, Citadel says, it will be able to move into new asset classes much faster. With the new platform, Citadel can respond when new asset classes come into the market.

Persons: Rituraj Deb Nath, Deb Nath, Robert Tan, Tan, It's, Goldman Sachs, There's Organizations: Citadel, Citadel Securities, Google, Bank of America

☆ Dentist Sentenced to Life for Murdering His Wife on Hunting Trip
▼ + stars: | 2023-08-21 | by ( Livia Albeck-Ripka | More About Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

A wealthy dentist who was found guilty of fatally shooting his wife on a hunting trip in Zambia in 2016 has been sentenced to life in prison for murder, the Justice Department said on Monday. “Larry is innocent,” the lawyers, David O. Markus and Margot Moss, said in a statement. “He did not murder his wife.”Image Larry Rudolph’s lawyers, David Oscar Markus, left, and his co-counsel, Margot Moss, outside court on Monday after the sentencing. Credit... David Zalubowski/Associated PressDr. Rudolph, formerly of Paradise Valley, Ariz., collected nearly $4.9 million in life insurance benefits after his wife died during a trip to Kafue National Park in western Zambia. His wife, Bianca Rudolph, a big game hunter, had been hoping to add a leopard to her trophy collection, according to court documents.

Persons: Lawrence Rudolph, Rudolph, “ Larry, David O, Markus, Margot Moss, “, Larry Rudolph’s, David Oscar Markus, David Zalubowski, Bianca Rudolph Organizations: Justice, District of Locations: Zambia, U.S, District of Colorado, Paradise Valley, Ariz

☆ Coco Gauff continues excellent preparation for US Open with third title victory of the season
▼ + stars: | 2023-08-21 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —Coco Gauff continued her excellent preparation for this month’s US Open with victory at the Western & Southern Open on Sunday. “I’m really happy with how I was able to manage this week,” Gauff said after becoming the tournament’s youngest ever winner. I wasn’t really serving as good as I did against Iga. I’m glad I was able to push through.”Gauff is still searching for her maiden grand slam title having reached the final of the French Open last year. She won in Auckland in January and Washington two weeks ago, and victory in Cincinnati on Sunday was her fifth career title.

Persons: Coco Gauff, Karolína, “ I’m, ” Gauff, “, she’s, It’s, I’m, Gauff, Matthew Stockman, Muchová, Bianca Andreescu, Caroline Wozniacki, Gauff –, – Organizations: CNN, & Southern, Sunday, Western & Southern, Women’s Tennis Association, Wimbledon Locations: Flushing Meadows , New York, Auckland, Washington, Cincinnati, Czech

The Moline, Illinois-based company posted a 60% rise in quarterly profit, yet investors were seemingly unimpressed as shares slumped for the world's largest farm equipment maker. While it easily beat profit expectations, Deere's stock slump is consistent with other cyclical companies that have outperformed estimates. Deere expects 2023 net income between $9.75 billion and $10.00 billion, up from its previous outlook of $9.25 billion to $9.50 billion. Construction and forestry equipment sales increased 14% on solid demand backdrop fueled by U.S. President Joe Biden administration's $1 trillion infrastructure deal. Sales from equipment operations rose about to $14.28 billion compared to $13 billion a year ago.

Persons: Bianca Flowers, Deere, Kristen Owen, Owen, Jerry Revich, Goldman Sachs, Joshua Jepsen, Joe Biden administration's, Vinay Dwivedi, Elaine Hardcastle, Marguerita Choy Organizations: Deere, Co, REUTERS, Oppenheimer, Co Inc, Goldman, Deere's, U.S, Thomson Locations: Bondurant , Iowa, U.S, Moline , Illinois, Chicago, Bengaluru

☆ US Senator Vance asks US Steel to rule out foreign buyer
▼ + stars: | 2023-08-18 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +2 min

[1/2] Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. Vance on Thursday asked U.S. Steel (CLF.N) to rule out a foreign buyer, in a sign that the emerging bidding war for the iconic steel producer could run into political headwinds. Vance, a Republican, said potential U.S. buyers for the Pittsburgh-based company should have priority because domestic steel production is an important aspect of national security. "It appears to be political grandstanding from somebody out making a name for themselves more than any national security interest, said Spoores, principal analyst at CRU Group. Vance was elected to the Senate in 2022 after winning the endorsement of former President Donald Trump, a Republican who also pushed for greater domestic steel production.

Persons: Lawrence Bryant, J.D, Vance, David Burritt, David Sutherland, Josh Spoores, Spoores, Donald Trump, Bianca Flowers, Andy Sullivan Organizations: Steel, U.S . Steel, U.S . Steel Granite City, REUTERS, Thursday, Republican, . Steel, Reuters, Industry, CRU Group, The United Steelworkers Union, Senate, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Pittsburgh, Cleveland, Luxembourg, Ohio, Chicago

☆ Here's how the Bloomberg Terminal is integrating AI to automate tasks for traders and analysts
▼ + stars: | 2023-08-17 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

The data giant has been using AI to help traders and analysts automate tasks and better use data. Bloomberg is making upgrades to its terminal, a ubiquitous piece of technology that traders and analysts use to access the troves of data that underpin Wall Street. The company has been investing in AI to automate tasks for users of its terminal, making it easier to parse through the mountains of information at their disposal. It has updated its widely popular messenger Instant Bloomberg (IB) to automatically suggest relevant research, order forms, or pricing quotes when a user messages specific keywords like "pricing," "research," or "order information." Bloomberg goes all-in on AIBloomberg has been expanding its data empire, from investing in AI to making alternative data more mainstream.

Persons: Mark Flatman, Goldman Sachs, you've, Flatman, they've Organizations: Bloomberg, CNBC, JPMorgan, Citibank, Disney Locations: Wall

☆ Union leader: Cleveland-Cliffs is the best strategic buyer of U.S. Steel
▼ + stars: | 2023-08-14 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +1 min

Steel workers at U.S. Steel Granite City Works in Granite City, Illinois, U.S., May 24, 2018. REUTERS/Lawrence Bryant/File PhotoCHICAGO, Aug 14 (Reuters) - The United Steelworkers (USW) international president said on Monday that the union supports North American steel producer Cleveland-Cliffs' bid to acquire rival, United States Steel Corp (X.N), adding that the company is the best strategic buyer. "Cliffs is committed to the blast furnace segment of the steel market and U.S. Steel is not," the union's international president, Thomas Conway told Reuters in an interview. The United Steelworker's collective bargaining agreement with U.S. Steel outlines that the company has to take union leadership voices into account for acquisition bids. U.S. Steel has said that it received "multiple unsolicited proposals."

Persons: Lawrence Bryant, Thomas Conway, Conway, Bianca Flowers, Tomasz Janowski Organizations: U.S . Steel, U.S . Steel Granite City, REUTERS, United Steelworkers, United States Steel Corp, Steel, U.S, Reuters, Thomson Locations: U.S . Steel Granite, Granite City , Illinois, U.S, Cleveland, Chicago

☆ PayPal taps Intuit exec Alex Chriss as its new CEO
▼ + stars: | 2023-08-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Alex Chriss will become the new CEO of PayPal on September 27. Current CEO Dan Schulman announced in February he would retire at the end of 2023. Chriss will come from Intuit, where he is the EVP of small business and self-employed group. Alex Chriss, the executive vice president of small business and self-employed group at Intuit, has been tapped to lead PayPal, the firm announced Monday. The move comes as current PayPal CEO Dan Schulman announced on February 9 that he will retire at the end of the year.

Persons: Alex Chriss, Dan Schulman, Chriss, Schulman, Elliott Management, Intuit's, Alex, John Donahoe Organizations: PayPal, Intuit, Morning

☆ Gun laws or second amendment is a 'false choice,' Harris says in Chicago
▼ + stars: | 2023-08-11 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +4 min

Harris, who has embraced a more combative role as President Joe Biden's re-election campaign kicks into gear, took a swipe at Republicans who have blocked Democrats' proposed gun safety laws, saying such changes are no threat to Americans' constitutional gun rights. Gun rights groups have fought any legislative attempt to curb those rights, calling them an infringement on the Constitution, even as most Americans say they favor stronger gun laws. Harris was speaking at Everytown's "Gun Sense University" in Chicago, an annual event where activists and survivors of gun violence, many of them members of the 10 million-strong "Moms Demand Action" group, gather for training and political organizing. On Thursday, four major gun safety groups, including Everytown, endorsed Biden's 2024 re-election bid, which unlocks donations by the interest groups' political action groups. Makayla Jordan, a 19-year-old member of Students Demand Action, said mass shootings are just one part of the country's "everyday" gun violence epidemic.

Persons: Kamala Harris, Oyun, Kevin Wurm, Harris, Joe Biden's, Biden, Biden's, Michael Bloomberg, Makayla Jordan, Bianca Flowers, Trevor Hunnicutt, Heather Timmons, Rosalba O'Brien Organizations: Mongolia’s, White, REUTERS, Everytown, Safety, United, New, New York City, Democratic, Thomson Locations: Washington , U.S, Chicago, United States, New York

☆ Bridgewater's tech chief is leaving the hedge fund giant for Microsoft to focus on the 'relentless tide of cyber threats'
▼ + stars: | 2023-08-10 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

He told Insider he's making the move to help combat cybersecurity on a broader scale. Igor Tsyganskiy, chief technology officer and president, is leaving the world's largest hedge fund after seven years, Insider has learned. Prior to Bridgewater, Tsyganskiy ran database.com, a division of Salesforce.com, and was the cofounder of Tealeaf Technologies, which was sold to IBM. Bell recently told Insider that AI would give Microsoft the upper hand to "finally turn the tables on the attackers." "Basically, end-to-end strategy on how Microsoft approaches the cybersecurity sector is my job," Tsyganskiy told Insider.

Persons: Igor Tsyganskiy, Tsyganskiy, Greg Jensen, Bridgewater's, Oliver Radwan, Kevin Brennan, Ray Dalio, Nir Bar Dea, Bridgewater, Charlie Bell, Bell Organizations: Bridgewater, Microsoft, LinkedIn, Tealeaf Technologies, IBM, Web Services Locations: Bridgewater, Bay Area, Connecticut, Westport , Connecticut, Salesforce.com

☆ Fintech VCs are readying their checkbooks as cash-strapped startup founders run out of options
▼ + stars: | 2023-08-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Fintech funding has been on a decline from 2021's peak levels, but VCs see signs of a rebound. VCs are itching to get back to dealmaking as they see early signs of a rebound in the fintech industry. Cash-strapped founders who didn't want to fundraise in a down market and get valuations slashed are running out of options and time. They dominated the fintech market in the past several years, but the shine is wearing off, Shriner said. Fintech VCs will get to spend more time on due diligence, looking beyond so-called "vanity metrics," Fernandez said.

Persons: Cash, didn't, Mark Peter Davis, Davis, We're, Tripp Shriner, Robert Ruark, Ruark, B2C, VCs, Shriner, — crowdedness, Stephanie Choo, Marcos Fernandez, KPMG's Ruark, Fintech, Fernandez Organizations: Interplay, Investors, Point72 Ventures, KPMG, Tiger, Portage Ventures, Fiat Ventures Locations: dealmaking, VCs, overvaluations

How to watch WWE Summerslam live streams from anywhereYou can use a VPN to watch Summerslam live if you don't live in a country with cable access or streaming plans that include WWE Network events. How to watch WWE Summerslam in the UKTNT Sports Box Office will show Summerslam in the UK via providers Sky, Virgin Media, and BT TV. How to watch WWE Summerslam in CanadaSummerslam will stream over the WWE Network via Sportsnet in Canada. How to watch WWE Summerslam in AustraliaBinge is the primary destination for Summerslam in Australia. WWE Summerslam match cardAhead, we list a schedule of all the matches taking place at Summerslam in Detroit, MI.

Persons: Peacock, Roman, We'll, Seth, Freakin, Rollins, Finn Balor, Cody Rhodes, Brock Lesnar, Canada's, It's, ExpressVPN, CEST, NBC Peacock, Brock Lesnar Asuka, Bianca Belair, Charlotte Flair, Logan Paul Gunther, Drew Mcintyre, Shayna Organizations: Ford, WWE, Universal, Tribal, WWE Network, Canada's Sportsnet, NBC, TNT, Sky, Virgin Media, BT, TNT Sports, Sportsnet, Triple, Ronda Locations: United States, Australia, Canada, Detroit , MI

☆ Investing platform eToro is bullish on generative AI. The US CEO breaks down its areas of experimentation, like making disclosures more fun to read and translating marketing material.
▼ + stars: | 2023-08-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Since ChatGPT's splashy debut in November 2022, generative AI has captured people's and corporations' imaginations. Generative AI is a subset of AI designed to ingest copious amounts of information and create new content. Finance, an industry that runs on data, has been exploring ways to leverage generative AI. At the retail-investing fintech eToro, work is underway to see how generative AI can be deployed to employees and customers. Using generative AI with guardrailsAs the company thinks about opportunities that come with generative AI, it can't ignore the risks.

Persons: Lule, ChatGPT's, Demmissie, hadn't, eToro, ChatGPT Organizations: Morning, Finance, Financial Industry, guardrails Locations: bitcoin

☆ Here's the 14-page pitch deck that 40Seas, a fintech looking to bring "buy now pay later" to the trade industry, used to raise $16 million
▼ + stars: | 2023-08-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

It raised an $11 million seed round in January and raised an additional $6 million in an extension. Here's the pitch deck the startup used to fundraise, which attracted investors like QED Investors. Even though his startup 40Seas only launched seven months ago, for Eyal Moldovan, the business has been decades in the making. 40Seas raised its seed round in January as investors funneled $11 million into the fledgling startup. Here's the 14-page pitch deck 40Seas used to raise its seed and seed extension.

Persons: Eyal, Igor Zaks, Gil Shiff, Suki Gao, Camila, Saruhashim, 40Seas Organizations: QED, Eyal Moldovan, Moldovan, ZIM, Eminence Ventures Locations: Israel, China, India, Tel Aviv, Canada, Europe, Asia Pacific, Australia, New Zealand, Moldovan

☆ Caterpillar warns of lower sales, margins in third quarter
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Caterpillar Inc (CAT.N) warned of a fall in third-quarter sales and margins on Tuesday as dealer inventories rose again, stoking worries that demand for its heavy machinery used in everything from construction to mining may have peaked. Caterpillar, seen as a proxy for global economic activity, said on Tuesday it was expecting third-quarter sales and operating profit margin to be higher than in the previous year, but lower compared to the second quarter. The manufacturer reported a $600 million increase in dealer inventory in the second quarter from a year earlier, primarily in its energy and transportation business, as drilling at North American rigs shows signs of weakening. Meanwhile, Caterpillar reported an adjusted profit of $5.55 per share in the second quarter, beating analysts' expectations of $4.58 per share. Sales rose 21.6% to $17.32 billion, above Wall Street estimates of $16.49 billion.

Persons: stoking, Ryan Keeney, Bianca Flowers, Shivansh, Anil D'Silva Organizations: Caterpillar Inc, Caterpillar, Thomson

☆ I'm an engineer on one of the most innovative teams at Ken Griffin's Citadel. Here are 7 lessons that have been critical to my rise at the $59 billion hedge fund.
▼ + stars: | 2023-07-30 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Kristofer Baxter leads a team of about 20 UI engineers at Citadel, a $59 billion hedge fund. Now I work at Citadel, leading user interface (UI) on the Citadel X team. But it's really important to be quick. We work really closely with front-office partners and investment professionals so we know what to build. The really important thing there is that you can't be afraid of scale, or even failure.

Persons: Kristofer Baxter, Bianca Chan, Ken Griffin, I've, iterating Organizations: Citadel, Citadel X, Netflix, LinkedIn, Google Locations: Miami

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